Document:

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                                                                    Exhibit 10.1

                                CCO HOLDINGS, LLC

                                       and

                           CCO HOLDINGS CAPITAL CORP.,

                                   as Issuers

                                       and

                             Wells Fargo Bank, N.A.,

                                   as Trustee

                                      ----

                                    INDENTURE

                          Dated as of December 15, 2004

                       Senior Floating Rate Notes due 2010

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                                TABLE OF CONTENTS

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ARTICLE 1  DEFINITIONS AND INCORPORATION BY REFERENCE............................................          1

         Section 1.01.     Definitions...........................................................          1

         Section 1.02.     Other Definitions.....................................................         25

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

         Section 1.04.     Rules of Construction.................................................         26

ARTICLE 2  THE NOTES.............................................................................         26

         Section 2.01.     Form and Dating.......................................................         26

         Section 2.02.     Execution and Authentication..........................................         27

         Section 2.03.     Registrar,Paying Agent and Calculation Agent..........................         28

         Section 2.04.     Paying Agent to Hold Money in Trust...................................         28

         Section 2.05.     Holder Lists..........................................................         29

         Section 2.06.     Transfer and Exchange.................................................         29

         Section 2.07.     Replacement Notes.....................................................         42

         Section 2.08.     Outstanding Notes.....................................................         42

         Section 2.09.     Treasury Notes........................................................         43

         Section 2.10.     Temporary Notes.......................................................         43

         Section 2.11.     Cancellation..........................................................         43

         Section 2.12.     Defaulted Interest....................................................         43

ARTICLE 3  REDEMPTION AND PREPAYMENT.............................................................         44

         Section 3.01.     Notices to Trustee....................................................         44

         Section 3.02.     Selection of Notes to Be Redeemed.....................................         44

         Section 3.03.     Notice of Redemption..................................................         44

         Section 3.04.     Effect of Notice of Redemption........................................         45

         Section 3.05.     Deposit of Redemption Price...........................................         45
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         Section 3.06.     Notes Redeemed in Part................................................         46

         Section 3.07.     Optional Redemption...................................................         46

         Section 3.08.     Mandatory Redemption..................................................         47

         Section 3.09.     Offer to Purchase by Application of Excess Proceeds...................         47

ARTICLE 4  COVENANTS.............................................................................         49

         Section 4.01.     Payment of Notes......................................................         49

         Section 4.02.     Maintenance of Office or Agency.......................................         49

         Section 4.03.     Reports...............................................................         50

         Section 4.04.     Compliance Certificate................................................         50

         Section 4.05.     Taxes.................................................................         51

         Section 4.06.     Stay, Extension and Usury Laws........................................         51

         Section 4.07.     Restricted Payments...................................................         52

         Section 4.08.     Investments...........................................................         55

         Section 4.09.     Dividend and Other Payment Restrictions Affecting Subsidiaries........         55

         Section 4.10.     Incurrence of Indebtedness and Issuance of Preferred Stock............         57

         Section 4.11.     Limitation on Asset Sales.............................................         59

         Section 4.12.     Sale and Leaseback Transactions.......................................         61

         Section 4.13.     Transactions with Affiliates..........................................         61

         Section 4.14.     Liens.................................................................         62

         Section 4.15.     Existence.............................................................         63

         Section 4.16.     Repurchase at the Option of Holders upon a Change of Control..........         63

         Section 4.17.     Limitations on Issuances of Guarantees of Indebtedness................         65
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         Section 4.18.     Payments for Consent..................................................         65

         Section 4.19.     Application of Fall-Away Covenants....................................         65

ARTICLE 5  SUCCESSORS............................................................................         66

         Section 5.01.     Merger, Consolidation, or Sale of Assets..............................         66

         Section 5.02.     Successor Corporation Substituted.....................................         67

ARTICLE 6  DEFAULTS AND REMEDIES.................................................................         67

         Section 6.01.     Events of Default.....................................................         67

         Section 6.02.     Acceleration..........................................................         68

         Section 6.03.     Other Remedies........................................................         69

         Section 6.04.     Waiver of Existing Defaults...........................................         69

         Section 6.05.     Control by Majority...................................................         69

         Section 6.06.     Limitation on Suits...................................................         69

         Section 6.07.     Rights of Holders of Notes to Receive Payment.........................         70

         Section 6.08.     Collection Suit by Trustee............................................         70

         Section 6.09.     Trustee May File Proofs of Claim......................................         70

         Section 6.10.     Priorities............................................................         71

         Section 6.11.     Undertaking for Costs.................................................         71

ARTICLE 7  TRUSTEE...............................................................................         72

         Section 7.01.     Duties of Trustee.....................................................         72

         Section 7.02.     Rights of Trustee.....................................................         73

         Section 7.03.     Individual Rights of Trustee..........................................         74

         Section 7.04.     Trustee's Disclaimer..................................................         74

         Section 7.05.     Notice of Defaults....................................................         74

         Section 7.06.     Reports by Trustee to Holders of the Notes............................         74
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         Section 7.07.     Compensation and Indemnity............................................         74

         Section 7.08.     Replacement of Trustee................................................         75

         Section 7.09.     Successor Trustee by Merger, etc......................................         76

         Section 7.10.     Eligibility; Disqualification.........................................         76

         Section 7.11.     Preferential Collection of Claims Against the Issuers.................         77

ARTICLE 8  LEGAL DEFEASANCE AND COVENANT DEFEASANCE..............................................         77

         Section 8.01.     Option to Effect Legal Defeasance or Covenant Defeasance..............         77

         Section 8.02.     Legal Defeasance and Discharge........................................         77

         Section 8.03.     Covenant Defeasance...................................................         78

         Section 8.04.     Conditions to Legal or Covenant Defeasance............................         78

         Section 8.05.     Deposited Money and Government Securities to Be Held in
                           Trust; Other Miscellaneous Provisions.................................         80

         Section 8.06.     Repayment to Issuers..................................................         80

         Section 8.07.     Reinstatement.........................................................         81

ARTICLE 9  AMENDMENT, SUPPLEMENT AND WAIVER......................................................         81

         Section 9.01.     Without Consent of Holders of Notes...................................         81

         Section 9.02.     With Consent of Holders of Notes......................................         82

         Section 9.03.     Compliance with Trust Indenture Act...................................         83

         Section 9.04.     Revocation and Effect of Consents.....................................         83

         Section 9.05.     Notation on or Exchange of Notes......................................         83

         Section 9.06.     Trustee to Sign Amendments, etc.......................................         83

ARTICLE 10 MISCELLANEOUS.........................................................................         84

         Section 10.01.    Trust Indenture Act Controls..........................................         84

         Section 10.02.    Notices...............................................................         84
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         Section 10.03.    Communication by Holders of Notes with Other Holders of Notes.........         85

         Section 10.04.    Certificate and Opinion as to Conditions Precedent....................         85

         Section 10.05.    Statements Required in Certificate or Opinion.........................         85

         Section 10.06.    Rules by Trustee and Agents...........................................         86

         Section 10.07.    No Personal Liability of Directors, Officers, Employees,
                           Members and Stockholders..............................................         86

         Section 10.08.    Governing Law.........................................................         86

         Section 10.09.    No Adverse Interpretation of Other Agreements.........................         86

         Section 10.10.    Successors............................................................         87

         Section 10.11.    Severability..........................................................         87

         Section 10.12.    Counterpart Originals.................................................         87

         Section 10.13.    Table of Contents, Headings, etc......................................         87

ARTICLE 11 SATISFACTION AND DISCHARGE............................................................         87

         Section 11.01.    Satisfaction and Discharge of Indenture...............................         87

         Section 11.02.    Application of Trust Money............................................         88
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                                                                  EXECUTION COPY

INDENTURE dated as of December 15, 2004 among CCO Holdings, LLC, a Delaware
limited liability company (as further defined below, the "Company"), CCO
Holdings Capital Corp., a Delaware corporation (as further defined below,
"Capital Corp" and together with the Company, the "Issuers"), and Wells Fargo
Bank, N.A., as trustee (the "Trustee").

         The Issuers and the Trustee agree as follows for the benefit of each
other and for the equal and ratable benefit of the Holders of the Notes:

                                    ARTICLE 1

                   DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.01. Definitions.

         "Acquired Debt" means, with respect to any specified Person:

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

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

         "Additional Notes" means the Issuers' Senior Floating Rate Notes due
2010 issued under this Indenture in addition to the Original Notes (other than
any Notes issued in respect of Original Notes pursuant to Section 2.06, 2.07,
2.10, 3.06, 3.09, 4.16 or 9.05).

         "Affiliate" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For purposes of this definition, "control,"
as used with respect to any Person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or
policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise; provided that beneficial ownership of 10% or more of the
Voting Stock of a Person shall be deemed to be control. For purposes of this
definition, the terms "controlling, "controlled by" and "under common control
with" shall have correlative meanings.

         "Agent" means any Registrar, Paying Agent or Calculation Agent.

         "Applicable Procedures" means, with respect to any transfer or
transaction involving a Global Note or beneficial interest therein, the rules
and procedures of the Depositary, Euroclear and Clearstream, in each case to the
extent applicable to such transaction and as in effect from time to time.

         "Asset Acquisition" means (a) an Investment by the Company or any of
its Restricted Subsidiaries in any other Person pursuant to which such Person
shall become a Restricted Subsidiary of the Company or any of its Restricted
Subsidiaries or shall be

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merged with or into the Company or any of its Restricted Subsidiaries, or (b)
the acquisition by the Company or any of its Restricted Subsidiaries of the
assets of any Person which constitute all or substantially all of the assets of
such Person, any division or line of business of such Person or any other
properties or assets of such Person other than in the ordinary course of
business.

         "Asset Sale" means:

         (1) the sale, lease, conveyance or other disposition of any assets or
rights, other than sales of inventory in the ordinary course of the Cable
Related Business consistent with applicable past practices; provided that the
sale, conveyance or other disposition of all or substantially all of the assets
of the Company and its Subsidiaries, taken as a whole, shall be governed by
Section 4.16 and/or Section 5.01 and not by the provisions of Section 4.11; and

         (2) the issuance of Equity Interests by any Restricted Subsidiary of
the Company or the sale of Equity Interests in any Restricted Subsidiary of the
Company.

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

         (1) any single transaction or series of related transactions that: (a)
involves assets having a fair market value of less than $100 million; or (b)
results in net proceeds to the Company and its Restricted Subsidiaries of less
than $100 million;

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

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

         (4) any Restricted Payment that is permitted by Section 4.07, any
Restricted Investment that is permitted by Section 4.08 or a Permitted
Investment;

         (5) the incurrence of Liens not prohibited by this Indenture and the
disposition of assets related to such Liens by the secured party pursuant to a
foreclosure; and

         (6) any disposition of cash or Cash Equivalents.

         "Attributable Debt" in respect of a sale and leaseback transaction
means, at the time of determination, the present value of the obligation of the
lessee for net rental payments during the remaining term of the lease included
in such sale and leaseback transaction including any period for which such lease
has been extended or may, at the option of the lessee, be extended. Such present
value shall be calculated using a discount rate equal to the rate of interest
implicit in such transaction, determined in accordance with GAAP.

         "Bankruptcy Law" means Title 11, U.S. Code or any similar Federal or
state law of any jurisdiction relating to bankruptcy, insolvency, winding up,
liquidation, reorganization or relief of debtors.

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         "Beneficial Owner" has the meaning assigned to such term in Rule 13d-3
and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial
ownership of any particular "person" (as such term is used in Section 13(d)(3)
of the Exchange Act), such "person" shall be deemed to have beneficial ownership
of all securities that such "person" has the right to acquire, whether such
right is currently exercisable or is exercisable only upon the occurrence of a
subsequent condition.

         "Board of Directors" means the board of directors or comparable
governing body of CCI or the Company, as the case may be, in either case as
constituted as of the date of any determination required to be made, or action
required to be taken, pursuant to this Indenture.

         "Business Day" means any day other than a Legal Holiday.

         "Cable Related Business" means the business of owning cable television
systems and businesses ancillary, complementary and related thereto.

         "Calculation Agent" means initially Wells Fargo Bank, N.A. until a
successor replaces Wells Fargo Bank, N.A. in accordance with Section 2.03 hereof
and thereafter means the successor serving hereunder.

         "Capital Corp" means CCO Holdings Capital Corp., a Delaware
corporation, and any successor Person thereto.

         "Capital Lease Obligation" means, at the time any determination thereof
is to be made, the amount of the liability in respect of a capital lease that
would at that time be required to be capitalized on a balance sheet in
accordance with GAAP.

         "Capital Stock" means:

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

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

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

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

         "Capital Stock Sale Proceeds" means the aggregate net cash proceeds
(including the fair market value of the non-cash proceeds, as determined by an
independent appraisal firm) received by the Company or its Restricted
Subsidiaries from and after November 10, 2003, in each case

         (x) as a contribution to the common equity capital or from the issue or
sale of Equity Interests (other than Disqualified Stock and other than issuances
or sales to a Subsidiary of the Company) of the Company from and after November
10, 2003, or

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         (y) from the issue or sale of convertible or exchangeable Disqualified
Stock or convertible or exchangeable debt securities of the Company that have
been converted into or exchanged for such Equity Interests (other than Equity
Interests (or Disqualified Stock or debt securities) sold to a Subsidiary of the
Company).

         "Cash Equivalents" means:

         (1) United States dollars;

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

         (3) certificates of deposit and eurodollar time deposits with
maturities of twelve months or less from the date of acquisition, bankers'
acceptances with maturities not exceeding six months and overnight bank
deposits, in each case, with any domestic commercial bank having combined
capital and surplus in excess of $500 million and a Thompson Bank Watch Rating
at the time of acquisition of "B" or better;

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

         (5) commercial paper having a rating at the time of acquisition of at
least "P-1" from Moody's or at least "A-1" from S&P and in each case maturing
within twelve months after the date of acquisition;

         (6) corporate debt obligations maturing within twelve months after the
date of acquisition thereof, rated at the time of acquisition at least "Aaa" or
"P-1" by Moody's or "AAA" or "A-1" by S&P;

         (7) auction-rate Preferred Stocks of any corporation maturing not later
than 45 days after the date of acquisition thereof, rated at the time of
acquisition at least "Aaa" by Moody's or "AAA" by S&P;

         (8) securities issued by any state, commonwealth or territory of the
United States, or by any political subdivision or taxing authority thereof,
maturing not later than six months after the date of acquisition thereof, rated
at the time of acquisition at least "A" by Moody's or S&P; and

         (9) money market or mutual funds at least 90% of the assets of which
constitute Cash Equivalents of the kinds described in clauses (1) through (8) of
this definition.

         "CCH I" means CCH I, LLC, a Delaware limited liability company, and any
successor Person thereto.

         "CCH II" means CCH II, LLC, a Delaware limited liability company, and
any successor Person thereto.

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         "CCH II Indentures" means, collectively, the indenture entered into by
CCH II and CCH II Capital Corp., a Delaware corporation, with respect to their
10.25% Senior Notes due 2010 and any indentures, note purchase agreements or
similar documents entered into by CCH II and CCH II Capital Corp. for the
purpose of incurring Indebtedness in exchange for, or the proceeds of which are
used to refinance, any of the Indebtedness described above, in each case,
together with all instruments and other agreements entered into by CCH II and
CCH II Capital Corp. in connection therewith, as any of the foregoing may be
refinanced, replaced, amended, supplemented or otherwise modified from time to
time.

         "CCI" means Charter Communications, Inc., a Delaware corporation, and
any successor Person thereto.

         "CCI Indentures" means, collectively, the indentures entered into by
CCI with respect to its 5.75% Convertible Senior Notes due 2005, its 4.75%
Convertible Senior Notes due 2006, its 5.875% Convertible Senior Notes due 2009
and any indentures, note purchase agreements or similar documents entered into
by CCI after the Issue Date for the purpose of incurring Indebtedness in
exchange for, or the proceeds of which are used to refinance, any of the
Indebtedness described above, in each case, together with all instruments and
other agreements entered into by CCI in connection therewith, as any of the
foregoing may be refinanced, replaced, amended, supplemented or otherwise
modified from time to time.

         "Change of Control" means the occurrence of any of the following:

         (1) the sale, transfer, conveyance or other disposition (other than by
way of merger or consolidation), in one or a series of related transactions, of
all or substantially all of the assets of the Company and its Subsidiaries,
taken as a whole, or of a Parent and its Subsidiaries, taken as a whole, to any
"person" (as such term is used in Section 13(d)(3) of the Exchange Act) other
than Paul G. Allen and the Related Parties;

         (2) the adoption of a plan relating to the liquidation or dissolution
of the Company or a Parent (except a liquidation of any Parent into any other
Parent);

         (3) the consummation of any transaction, including, without limitation,
any merger or consolidation, the result of which is that any "person" (as
defined above) other than Paul G. Allen and Related Parties becomes the
Beneficial Owner, directly or indirectly, of more than 35% of the Voting Stock
of the Company or a Parent, measured by voting power rather than the number of
shares, unless Paul G. Allen or a Related Party Beneficially Owns, directly or
indirectly, a greater percentage of Voting Stock of the Company or such Parent,
as the case may be, measured by voting power rather than the number of shares,
than such person;

         (4) after the Issue Date, the first day on which a majority of the
members of the Board of Directors of CCI are not Continuing Directors;

         (5) the Company or a Parent consolidates with, or merges with or into,
any Person, or any Person consolidates with, or merges with or into, the Company
or a Parent, in any such event pursuant to a transaction in which any of the
outstanding Voting Stock of the Company or such Parent is converted into or
exchanged for cash, securities or other property, other than any such
transaction where the Voting Stock of the Company or such

                                     - 5 -
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Parent outstanding immediately prior to such transaction is converted into or
exchanged for Voting Stock (other than Disqualified Stock) of the surviving or
transferee Person constituting a majority of the outstanding shares of such
Voting Stock of such surviving or transferee Person immediately after giving
effect to such issuance; or

         (6) (i) Charter Communications Holding Company, LLC shall cease to own
beneficially, directly or indirectly, 100% of the Capital Stock of Charter
Holdings and (ii) Charter Holdings shall cease to own beneficially, directly or
indirectly, 100% of the Capital Stock of the Company.

         "Charter Holdings" means Charter Communications Holdings, LLC, a
Delaware limited liability company, and any successor Person thereto.

         "Charter Holdings Indentures" means, collectively (a) the indentures
entered into by Charter Holdings and Charter Communications Holdings Capital
Corporation in connection with the issuance of each 8.250% Senior Notes Due 2007
dated March 1999, 8.625% Senior Notes Due 2009 dated March 1999, 9.920% Senior
Discount Notes Due 2011 dated March 1999, 10.000% Senior Notes Due 2009 dated
January 2000, 10.250% Senior Notes Due 2010 dated January 2000, 11.750% Senior
Discount Notes Due 2010 dated January 2000, 10.750% Senior Notes Due 2009 dated
January 2001, 11.125% Senior Notes Due 2011 dated January 2001, 13.500% Senior
Discount Notes Due 2011 dated January 2001, 9.625% Senior Notes Due 2009 dated
May 2001, 10.000% Senior Notes Due 2011 dated May 2001, 11.750% Senior Discount
Notes Due 2011 dated May 2001, 9.625% Senior Notes Due 2009 dated January 2002,
10.000% Senior Notes Due 2011 dated January 2002, and 11.750% Senior Discount
Notes Due 2011 dated January 2002, and (b) any indentures, note purchase
agreements or similar documents entered into by Charter Holdings and/or Charter
Communications Holdings Capital Corporation after the Issue Date for the purpose
of incurring Indebtedness in exchange for, or proceeds of which are used to
refinance, any of the Indebtedness described in the foregoing clause (a), in
each case, together with all instruments and other agreements entered into by
Charter Holdings or Charter Communications Holdings Capital Corporation in
connection therewith, as the same may be refinanced, replaced, amended,
supplemented or otherwise modified from time to time.

         "Charter Refinancing Indebtedness" means any Indebtedness of a Charter
Refinancing Subsidiary issued in exchange for, or the net proceeds of which are
used within 90 days after the date of issuance thereof to extend, refinance,
renew, replace, defease, purchase, acquire or refund (including successive
extensions, refinancings, renewals, replacements, defeasances, purchases,
acquisitions or refunds), Indebtedness initially incurred under any one or more
of the Charter Holdings Indentures, the CCI Indentures, the CCH II Indentures or
this Indenture; provided that:

         (1) the principal amount (or accreted value, if applicable) of such
Charter Refinancing Indebtedness does not exceed the principal amount of (or
accreted value, if applicable) plus accrued interest and premium, if any, on the
Indebtedness so extended, refinanced, renewed, replaced, defeased, purchased,
acquired or refunded (plus the amount of reasonable fees, commissions and
expenses incurred in connection therewith); and

         (2) such Charter Refinancing Indebtedness has a final maturity date
later than the

                                     - 6 -
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final maturity date of, and has a Weighted Average Life to Maturity equal to or
greater than the Weighted Average Life to Maturity of, the Indebtedness being
extended, refinanced, renewed, replaced, defeased or refunded.

         "Charter Refinancing Subsidiary" means CCH I, CCH II or any other
directly or indirectly wholly owned Subsidiary (and any related corporate
co-obligor if such Subsidiary is a limited liability company or other
association not taxed as a corporation) of CCI or Charter Communications Holding
Company, LLC, which is or becomes a Parent.

         "Clearstream" means Clearstream Banking, societe anonyme (formerly
Cedelbank).

         "Commission" or "SEC" means the Securities and Exchange Commission.

         "Company" means CCO Holdings, LLC, a Delaware limited liability
company, and any successor Person thereto.

         "Consolidated EBITDA" means with respect to any Person, for any period,
the net income of such Person and its Restricted Subsidiaries for such period
plus, to the extent such amount was deducted in calculating such net income:

         (1) Consolidated Interest Expense;

         (2) income taxes;

         (3) depreciation expense;

         (4) amortization expense;

         (5) all other non-cash items, extraordinary items, nonrecurring and
unusual items and the cumulative effects of changes in accounting principles
reducing such net income, less all non-cash items, extraordinary items,
nonrecurring and unusual items and cumulative effects of changes in accounting
principles increasing such net income, all as determined on a consolidated basis
for such Person and its Restricted Subsidiaries in conformity with GAAP; and

         (6) amounts actually paid during such period pursuant to a deferred
compensation plan; and

         (7) for purposes of Section 4.10 only, Management Fees;

provided, that Consolidated EBITDA shall not include:

         (x) the net income (or net loss) of any Person that is not a Restricted
Subsidiary ("Other Person"), except (i) with respect to net income, to the
extent of the amount of dividends or other distributions actually paid to such
Person or any of its Restricted Subsidiaries by such Other Person during such
period and (ii) with respect to net losses, to the extent of the amount of
investments made by such Person or any Restricted Subsidiary of such Person in
such Other Person during such period;

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         (y) solely for the purposes of calculating the amount of Restricted
Payments that may be made pursuant to clause (3) of Section 4.07 (and in such
case, except to the extent includable pursuant to clause (x) above), the net
income (or net loss) of any Other Person accrued prior to the date it becomes a
Restricted Subsidiary or is merged into or consolidated with such Person or any
Restricted Subsidiaries or all or substantially all of the property and assets
of such Other Person are acquired by such Person or any of its Restricted
Subsidiaries; and

         (z) the net income of any Restricted Subsidiary of the Company to the
extent that the declaration or payment of dividends or similar distributions by
such Restricted Subsidiary of such net income is not at the time permitted by
the operation of the terms of such Restricted Subsidiary's charter or any
agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to such Restricted Subsidiary (other than any agreement or
instrument evidencing Indebtedness or Preferred Stock (i) outstanding on the
Issue Date, or (ii) incurred or issued thereafter in compliance with Section
4.10, provided that (a) the terms of any such agreement or instrument
restricting the declaration and payment of dividends or similar distributions
apply only in the event of a default with respect to a financial covenant or a
covenant relating to payment (beyond any applicable period of grace) contained
in such agreement or instrument, (b) such terms are determined by such Person to
be customary in comparable financings and (c) such restrictions are determined
by the Company not to materially affect the Issuers' ability to make principal
or interest payments on the Notes when due).

         "Consolidated Indebtedness" means, with respect to any Person as of any
date of determination, the sum, without duplication, of:

         (1) the total amount of outstanding Indebtedness of such Person and its
Restricted Subsidiaries, plus

         (2) the total amount of Indebtedness of any other Person that has been
Guaranteed by the referent Person or one or more of its Restricted Subsidiaries,
plus

         (3) the aggregate liquidation value of all Disqualified Stock of such
Person and all Preferred Stock of Restricted Subsidiaries of such Person, in
each case, determined on a consolidated basis in accordance with GAAP.

         "Consolidated Interest Expense" means, with respect to any Person for
any period, without duplication, the sum of:

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

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

                                     - 8 -
<PAGE>

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

excluding, however, any amount of such interest of any Restricted Subsidiary of
the referent Person if the net income of such Restricted Subsidiary is excluded
in the calculation of Consolidated EBITDA pursuant to clause (z) of the
definition thereof (but only in the same proportion as the net income of such
Restricted Subsidiary is excluded from the calculation of Consolidated EBITDA
pursuant to clause (z) of the definition thereof) in each case, on a
consolidated basis and in accordance with GAAP.

         "Continuing Directors" means, as of any date of determination, any
member of the Board of Directors of CCI who:

         (1) was a member of the Board of Directors of CCI on the Issue Date; or

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

         "Corporate Trust Office of the Trustee" shall be at the address of the
Trustee specified in Section 10.02 or such other address as to which the Trustee
may give notice to the Issuers.

         "Credit Facilities" means, with respect to the Company and/or its
Restricted Subsidiaries, one or more debt facilities or commercial paper
facilities, in each case with banks or other lenders (other than a Parent of the
Issuers) providing for revolving credit loans, term loans, receivables financing
(including through the sale of receivables to such lenders or to special purpose
entities formed to borrow from such lenders against such receivables) or letters
of credit, in each case, as amended, restated, modified, renewed, refunded,
replaced or refinanced in whole or in part from time to time.

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

         "Definitive Note" means a certificated Note registered in the name of
the Holder thereof and issued in accordance with Section 2.06, substantially in
the form of Exhibit A hereto, except that such Note shall not bear the Global
Note Legend and shall not have the "Schedule of Exchanges of Interests in the
Global Note" attached thereto.

         "Depositary" means, with respect to the Global Notes, the Person
specified in Section 2.03 as the Depositary with respect to the Notes, and any
and all successors thereto appointed as depositary hereunder and having become
such pursuant to the applicable provision of this Indenture.

         "Determination Date" means, with respect to any Interest Period, the
second London Banking Day preceding the first day of the Interest Period.

                                     - 9 -
<PAGE>

         "Disposition" means, with respect to any Person, any merger,
consolidation or other business combination involving such Person (whether or
not such Person is the surviving Person) or the sale, assignment, transfer,
lease or conveyance or other disposition of all or substantially all of such
Person's assets or Capital Stock.

         "Disqualified Stock" means any Capital Stock that, by its terms (or by
the terms of any security into which it is convertible, or for which it is
exchangeable, in each case at the option of the holder thereof), or upon the
happening of any event, matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, or redeemable at the option of the holder
thereof, in whole or in part, on or prior to the date that is 91 days after the
date on which the Notes mature. Notwithstanding the preceding sentence, any
Capital Stock that would constitute Disqualified Stock solely because the
holders thereof have the right to require the Company to repurchase such Capital
Stock upon the occurrence of a change of control or an asset sale shall not
constitute Disqualified Stock if the terms of such Capital Stock provide that
the Company may not repurchase or redeem any such Capital Stock pursuant to such
provisions unless such repurchase or redemption complies with Section 4.07.

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

         "Equity Offering" means any private or underwritten public offering of
Qualified Capital Stock of the Company or a Parent of which the gross proceeds
to the Company or received by the Company as a capital contribution from such
Parent (directly or indirectly), as the case may be, are at least $25 million.

         "Euroclear" means Morgan Guaranty Trust Company of New York, Brussels
office, as operator of the Euroclear system.

         "Exchange Act" means the Securities Exchange Act of 1934, as amended.

         "Exchange Notes" means the Issuers' Senior Floating Rate Notes due
2010, containing terms substantially identical to the Initial Notes or any
Initial Additional Notes (except that (i) such Exchange Notes shall not contain
terms with respect to transfer restrictions and shall be registered under the
Securities Act and (ii) certain provisions relating to an increase in the stated
rate of interest thereon shall be eliminated), that are issued and exchanged for
(a) the Initial Notes, as provided for in the Registration Rights Agreement
relating to such Initial Notes and this Indenture or (b) such Initial Additional
Notes, as may be provided in any Registration Rights Agreement relating to such
Initial Additional Notes and this Indenture (including any amendment or
supplement thereto).

         "Exchange Offer" means an offer to exchange Initial Notes or Initial
Additional Notes, if any, for Exchange Notes pursuant to a Registration Rights
Agreement.

         "Exchange Offer Registration Statement" means a registration statement
relating to an Exchange Offer as may be provided in any Registration Rights
Agreement.

                                     - 10 -
<PAGE>

         "Existing Indebtedness" means Indebtedness of the Company and its
Restricted Subsidiaries in existence on the Issue Date, until such amounts are
repaid.

         "GAAP" means generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the accounting
profession, which are in effect on the Issue Date.

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

         "Global Notes" means, individually and collectively, each of the
Restricted Global Notes and the Unrestricted Global Notes.

         "Government Securities" means direct obligations of, or obligations
guaranteed by, the United States of America, and the payment for which the
United States pledges its full faith and credit.

         "Guarantee" or "guarantee" means a guarantee other than by endorsement
of negotiable instruments for collection in the ordinary course of business,
direct or indirect, in any manner including, without limitation, by way of a
pledge of assets or through letters of credit or reimbursement agreements in
respect thereof, of all or any part of any Indebtedness, measured as the lesser
of the aggregate outstanding amount of the Indebtedness so guaranteed and the
face amount of the guarantee.

         "Hedging Obligations" means, with respect to any Person, the
obligations of such Person under:

         (1) interest rate swap agreements, interest rate cap agreements and
interest rate collar agreements;

         (2) interest rate option agreements, foreign currency exchange
agreements, foreign currency swap agreements; and

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

         "Helicon Preferred Stock" means the preferred limited liability company
interest of Charter-Helicon LLC with an aggregate liquidation value of $25
million.

         "Holder" means a holder of the Notes.

         "Indebtedness" means, with respect to any specified Person, any
indebtedness of such Person, whether or not contingent:

         (1) in respect of borrowed money;

                                     - 11 -
<PAGE>

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

         (3) in respect of banker's acceptances;

         (4) representing Capital Lease Obligations;

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

         (6) representing the notional amount of any Hedging Obligations,

if and to the extent any of the preceding items (other than letters of credit
and Hedging Obligations) would appear as a liability upon a balance sheet of the
specified Person prepared in accordance with GAAP. In addition, the term
"Indebtedness" includes all Indebtedness of others secured by a Lien on any
asset of the specified Person (whether or not such Indebtedness is assumed by
the specified Person) and, to the extent not otherwise included, the guarantee
by such Person of any indebtedness of any other Person.

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

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

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

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

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

         "Initial Additional Notes" means Additional Notes issued in an offering
not registered under the Securities Act.

         "Initial Notes" means the Issuers' Senior Floating Rate Notes due 2010,
issued on the Issue Date (and any Notes issued in respect thereof pursuant to
Section 2.06, 2.07, 2.10, 3.06, 3.09, 4.16 or 9.05).

         "Institutional Accredited Investor" means an institution that is an
"accredited investor" as defined in Rule 501(a)(1), (2), (3) or (7) under the
Securities Act that is not also a QIB.

         "Interest Period" means the period commencing on and including an
interest payment date and ending on and including the day immediately preceding
the next succeeding interest payment date, with the exception that the first
Interest Period shall commence on and include the Issue Date and end on and
include March 14, 2005.

                                     - 12 -
<PAGE>

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

         "Investments" means, with respect to any Person, all investments by
such Person in other Persons, including Affiliates, in the forms of direct or
indirect loans (including guarantees of Indebtedness or other obligations),
advances or capital contributions (excluding commission, travel and similar
advances to officers and employees made in the ordinary course of business) and
purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities, together with all items that are or would be
classified as investments on a balance sheet prepared in accordance with GAAP.

         "Issue Date" means December 15, 2004.

         "Issuers" has the meaning assigned to it in the preamble to this
Indenture.

         "Legal Holiday" means a Saturday, a Sunday or a day on which banking
institutions in The City of New York or at a place of payment are authorized by
law, regulation or executive order to remain closed. If a payment date is a
Legal Holiday at a place of payment, payment may be made at that place on the
next succeeding day that is not a Legal Holiday, and no interest shall accrue on
such payment for the intervening period.

         "Letter of Transmittal" means the letter of transmittal to be prepared
by the Issuers and sent to all Holders of the Initial Notes or any Initial
Additional Notes for use by such Holders in connection with any Exchange Offer.

         "Leverage Ratio" means, as to the Company, as of any date, the ratio
of:

         (1) the Consolidated Indebtedness of the Company on such date to

         (2) the aggregate amount of Consolidated EBITDA for the Company for the
most recently ended fiscal quarter for which internal financial statements are
available multiplied by four (the "Reference Period").

         In addition to the foregoing, for purposes of this definition,
"Consolidated EBITDA" shall be calculated on a pro forma basis after giving
effect to

         (1) the issuance of the Notes;

         (2) the incurrence of the Indebtedness or the issuance of the
Disqualified Stock or other Preferred Stock (and the application of the proceeds
therefrom) giving rise to the need to make such calculation and any incurrence
or issuance (and the application of the proceeds therefrom) or repayment of
other Indebtedness, Disqualified Stock or Preferred Stock, other than the
incurrence or repayment of Indebtedness for ordinary working capital purposes,
at any time subsequent to the beginning of the Reference Period and on or prior
to the date of determination, as if such incurrence (and the application of the
proceeds thereof), or the repayment, as the case may be, occurred on the first
day of the Reference Period; and

         (3) any Dispositions or Asset Acquisitions (including, without
limitation, any Asset Acquisition giving rise to the need to make such
calculation as a result of such Person

                                     - 13 -
<PAGE>

or one of its Restricted Subsidiaries (including any person that becomes a
Restricted Subsidiary as a result of such Asset Acquisition) incurring, assuming
or otherwise becoming liable for or issuing Indebtedness, Disqualified Stock or
Preferred Stock) made on or subsequent to the first day of the Reference Period
and on or prior to the date of determination, as if such Disposition or Asset
Acquisition (including the incurrence, assumption or liability for any such
Indebtedness, Disqualified Stock or Preferred Stock and also including any
Consolidated EBITDA associated with such Asset Acquisition, including any cost
savings adjustments in compliance with Regulation S-X promulgated by the
Commission) had occurred on the first day of the Reference Period.

         "LIBOR" means, with respect to an Interest Period, the rate (expressed
as a percentage per annum) for deposits in United States dollars for a
three-month period beginning on the second London Banking Day after the
Determination Date that appears on either Telerate Page 3750 or Bloomberg page
BBAM 1 as of 11:00 a.m., London time, on the Determination Date. If Telerate
Page 3750 and Bloomberg page BBAM 1 do not include such a rate or are
unavailable on a Determination Date, the Calculation Agent will request the
principal London office of each of four major banks in the London interbank
market, as selected by the Calculation Agent, to provide such bank's offered
quotation (expressed as a percentage per annum), as of approximately 11:00 a.m.,
London time, on such Determination Date, to prime banks in the London interbank
market for deposits in a Representative Amount in United States dollars for a
three-month period beginning on the second London Banking Day after the
Determination Date. If at least two such offered quotations are so provided,
LIBOR for the Interest Period will be the arithmetic mean of such quotations. If
fewer than two such quotations are so provided, the Calculation Agent will
request each of three major banks in New York City, as selected by the
Calculation Agent, to provide such bank's rate (expressed as a percentage per
annum), as of approximately 11:00 a.m., New York City time, on such
Determination Date, for loans in a Representative Amount in United States
dollars to leading European banks for a three-month period beginning on the
second London Banking Day after the Determination Date. If at least two such
rates are so provided, LIBOR for the Interest Period will be the arithmetic mean
of such rates. If fewer than two such rates are so provided, then LIBOR for the
Interest Period will be LIBOR in effect with respect to the immediately
preceding Interest Period.

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

         "London Banking Day" means any day in which dealings in United States
dollars are transacted or, with respect to any future date, are expected to be
transacted in the London interbank market.

    "Management Fees" means the fees payable to CCI pursuant to the management
and mutual services agreements between any Parent of the Company and/or Charter
Communications Operating, LLC and between any Parent of the Company and other

                                     - 14 -
<PAGE>

Restricted Subsidiaries of the Company and pursuant to the limited liability
company agreements of certain Restricted Subsidiaries as such management, mutual
services or limited liability company agreements exist on the Issue Date (or, if
later, on the date any new Restricted Subsidiary is acquired or created),
including any amendment or replacement thereof, provided, that any such new
agreements or amendments or replacements of existing agreements is not more
disadvantageous to the holders of the Notes in any material respect than such
management agreements existing on the Issue Date and further provided, that such
new, amended or replacement management agreements do not provide for percentage
fees, taken together with fees under existing agreements, any higher than 3.5%
of CCI's consolidated total revenues for the applicable payment period.

         "Moody's" means Moody's Investors Service, Inc. or any successor to the
rating agency business thereof.

         "Net Proceeds" means the aggregate cash proceeds received by the
Company or any of its Restricted Subsidiaries in respect of any Asset Sale
(including, without limitation, any cash received upon the sale or other
disposition of any non-cash consideration received in any Asset Sale), net of
the direct costs relating to such Asset Sale, including, without limitation,
legal, accounting and investment banking fees, and sales commissions, and any
relocation expenses incurred as a result thereof or taxes paid or payable as a
result thereof (including amounts distributable in respect of owners', partners'
or members' tax liabilities resulting from such sale), in each case after taking
into account any available tax credits or deductions and any tax sharing
arrangements and amounts required to be applied to the repayment of
Indebtedness.

         "Non-Recourse Debt" means Indebtedness:

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

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

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

         "Non-U.S. Person" means a Person who is not a U.S. Person.

         "Note" or "Notes" means the Initial Notes, any Additional Notes and the
Exchange Notes.

                                     - 15 -
<PAGE>

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

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

         "Officers' Certificate" means a certificate signed on behalf of the
Company or Capital Corp, as the case may be, by two Officers of the Company or
Capital Corp, as the case may be, one of whom must be the principal executive
officer, the chief financial officer or the treasurer of the Company or Capital
Corp, as the case may be, that meets the requirements of Section 10.05.

         "Opinion of Counsel" means an opinion from legal counsel that that is
reasonably acceptable to the Trustee and meets the requirements of Section
10.05. The counsel may be an employee of or counsel to the Company or any
Subsidiary of the Company.

         "Original Notes" means the Initial Notes and any Exchange Notes issued
in exchange therefor.

         "Parent" means CCH II, CCH I, Charter Holdings, Charter Communications
Holding Company, LLC, CCI and/or any direct or indirect Subsidiary of the
foregoing 100% of the Capital Stock of which is owned directly or indirectly by
one or more of the foregoing Persons, as applicable, and that directly or
indirectly beneficially owns 100% of the Capital Stock of the Company, and any
successor Person to any of the foregoing.

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

         "Permitted Investments" means:

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

         (2) any Investment in Cash Equivalents;

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

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

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

                                     - 16 -
<PAGE>

         (4) any Investment made as a result of the receipt of non-cash
consideration from an Asset Sale that was made pursuant to and in compliance
with Section 4.11;

         (5) any Investment made out of the net cash proceeds of the issue and
sale after November 10, 2003 (other than to a Subsidiary of the Company) of
Equity Interests (other than Disqualified Stock) of the Company to the extent
that such net cash proceeds have not been applied to make a Restricted Payment
or to effect other transactions pursuant to Section 4.07 hereof;

         (6) other Investments in any Person (other than any Parent) having an
aggregate fair market value, when taken together with all other Investments in
any Person made by the Company and its Restricted Subsidiaries (without
duplication) pursuant to this clause (6) from and after the Issue Date, not to
exceed $750 million (initially measured on the date each such Investment was
made and without giving effect to subsequent changes in value, but reducing the
amount outstanding by the aggregate amount of principal, interest, dividends,
distributions, repayments, proceeds or other value otherwise returned or
recovered in respect of any such Investment, but not to exceed the initial
amount of such Investment) at any one time outstanding; and

         (7) Investments in customers and suppliers in the ordinary course of
business which either (A) generate accounts receivable or (B) are accepted in
settlement of bona fide disputes.

         "Permitted Liens" means:

         (1) Liens on the assets of the Company securing Indebtedness and other
Obligations under any of the Credit Facilities;

         (2) Liens in favor of the Company;

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

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

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

         (6) purchase money mortgages or other purchase money Liens (including,
without limitation, any Capital Lease Obligations) incurred by the Company upon
any fixed or capital assets acquired on or after the Issue Date or purchase
money mortgages (including without limitation Capital Lease Obligations) on any
such assets, whether or not assumed, existing at the time of acquisition of such
assets, whether or not assumed, so long as

                                     - 17 -
<PAGE>

                  (i) such mortgage or Lien does not extend to or cover any of
         the assets of the Company, except the asset so developed, constructed,
         or acquired, and directly related assets such as enhancements and
         modifications thereto, substitutions, replacements, proceeds (including
         insurance proceeds), products, rents and profits thereof, and

                  (ii) such mortgage or Lien secures the obligation to pay all
         or a portion of the purchase price of such asset, interest thereon and
         other charges, costs and expenses (including, without limitation, the
         cost of design, development, construction, acquisition, transportation,
         installation, improvement, and migration) and is incurred in connection
         therewith (or the obligation under such Capital Lease Obligation) only;

         (7) Liens existing on the Issue Date (other than in connection with the
Credit Facilities) and replacement Liens therefor that do not encumber
additional property;

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

         (9) statutory and common law Liens of landlords and carriers,
warehousemen, mechanics, suppliers, materialmen, repairmen or other similar
Liens arising in the ordinary course of business and with respect to amounts not
yet delinquent or being contested in good faith by appropriate legal proceedings
promptly instituted and diligently conducted and for which a reserve or other
appropriate provision, if any, as shall be required in conformity with GAAP
shall have been made;

         (10) Liens incurred or deposits made in the ordinary course of business
in connection with workers' compensation, unemployment insurance and other types
of social security;

         (11) Liens incurred or deposits made to secure the performance of
tenders, bids, leases, statutory or regulatory obligation, bankers' acceptance,
surety and appeal bonds, government contracts, performance and return-of-money
bonds and other obligations of a similar nature incurred in the ordinary course
of business (exclusive of obligations for the payment of borrowed money);

         (12) easements, rights-of-way, municipal and zoning ordinances and
similar charges, encumbrances, title defects or other irregularities that do not
materially interfere with the ordinary course of business of the Company or any
of its Restricted Subsidiaries;

         (13) Liens of franchisors or other regulatory bodies arising in the
ordinary course of business;

         (14) Liens arising from filing Uniform Commercial Code financing
statements regarding leases or other Uniform Commercial Code financing
statements for precautionary purposes relating to arrangements not constituting
Indebtedness;

                                     - 18 -
<PAGE>

         (15) Liens arising from the rendering of a final judgment or order
against the Company or any of its Restricted Subsidiaries that does not give
rise to an Event of Default;

         (16) Liens securing reimbursement obligations with respect to letters
of credit that encumber documents and other property relating to such letters of
credit and the products and proceeds thereof;

         (17) Liens encumbering customary initial deposits and margin deposits,
and other Liens that are within the general parameters customary in the industry
and incurred in the ordinary course of business, in each case, securing
Indebtedness under Hedging Obligations and forward contracts, options, future
contracts, future options or similar agreements or arrangements designed solely
to protect the Company or any of its Restricted Subsidiaries from fluctuations
in interest rates, currencies or the price of commodities;

         (18) Liens consisting of any interest or title of licensor in the
property subject to a license;

         (19) Liens on the Capital Stock of Unrestricted Subsidiaries;

         (20) Liens arising from sales or other transfers of accounts receivable
which are past due or otherwise doubtful of collection in the ordinary course of
business;

         (21) Liens incurred in the ordinary course of business of the Company
and its Restricted Subsidiaries with respect to obligations which in the
aggregate do not exceed $50 million at any one time outstanding;

         (22) Liens in favor of the Trustee arising under the provisions of
Section 7.07 of this Indenture and similar provisions in favor of trustees or
other agents or representatives under indentures or other agreements governing
debt instruments entered into after the date hereof;

         (23) Liens in favor of the Trustee for its benefit and the benefit of
Holders as their respective interests appear; and

         (24) Liens securing Permitted Refinancing Indebtedness, to the extent
that the Indebtedness being refinanced was secured or was permitted to be
secured by such Liens.

         "Permitted Refinancing Indebtedness" means any Indebtedness of the
Company or any of its Restricted Subsidiaries issued in exchange for, or the net
proceeds of which are used, within 60 days after the date of issuance thereof,
to extend, refinance, renew, replace, defease or refund, other Indebtedness of
the Company or any of its Restricted Subsidiaries (other than intercompany
Indebtedness); provided that unless permitted otherwise by this Indenture, no
Indebtedness of any Restricted Subsidiary may be issued in exchange for, nor may
the net proceeds of Indebtedness be used to extend, refinance, renew, replace,
defease or refund, Indebtedness of the direct or indirect parent of such
Restricted Subsidiary; provided, further, that:

         (1) the principal amount (or accreted value, if applicable) of such
Permitted Refinancing Indebtedness does not exceed the principal amount of (or
accreted value, if

                                     - 19 -
<PAGE>

applicable), plus accrued interest and premium, if any, on the Indebtedness so
extended, refinanced, renewed, replaced, defeased or refunded (plus the amount
of reasonable expenses incurred in connection therewith), except to the extent
that any such excess principal amount would be then permitted to be incurred by
other provisions of Section 4.10;

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

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

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

         "Preferred Stock," as applied to the Capital Stock of any Person, means
Capital Stock of any class or classes (however designated) which, by its terms,
is preferred as to the payment of dividends, or as to the distribution of assets
upon any voluntary or involuntary liquidation or dissolution of such Person,
over shares of Capital Stock of any other class of such Person.

         "Private Placement Legend" means the legend set forth in Section
2.06(g)(i)(A) to be placed on all Notes issued under this Indenture except where
otherwise permitted by the provisions of this Indenture.

         "Productive Assets" means assets (including assets of a referent Person
owned directly or indirectly through ownership of Capital Stock) of a kind used
or useful in the Cable Related Business.

         "QIB" means a "qualified institutional buyer" as defined in Rule 144A.

         "Qualified Capital Stock" means any Capital Stock that is not
Disqualified Stock.

         "Rating Agencies" means Moody's and S&P.

         "Registration Rights Agreement" means (a) the Exchange and Registration
Rights Agreement dated as of the Issue Date among the Issuers and the initial
purchasers named therein with respect to the Initial Notes and (b) any
registration rights agreement among the Issuers and the initial purchasers named
therein with respect to any Initial Additional Notes.

         "Regulation S" means Regulation S promulgated under the Securities Act.

                                     - 20 -
<PAGE>

         "Regulation S Global Note" means a global note substantially in the
form of Exhibit A hereto bearing the Global Note Legend and the Private
Placement Legend and deposited with or on behalf of, and registered in the name
of, the Depositary or its nominee that will be issued in an initial denomination
equal to the outstanding principal amount of the Initial Notes or any Initial
Additional Notes, in each case, initially sold in reliance on Rule 903 of
Regulation S.

         "Related Party" means:

         (1) the spouse or an immediate family member, estate or heir of Paul G.
Allen; or

         (2) any trust, corporation, partnership or other entity, the
beneficiaries, stockholders, partners, owners or Persons beneficially holding an
80% or more controlling interest of which consist of Paul G. Allen and/or such
other Persons referred to in the immediately preceding clause (1).

         "Representative Amount" means a principal amount of not less than U.S.
$1,000,000 for a single transaction in the relevant market at the relevant time.

         "Responsible Officer," when used with respect to the Trustee, means any
officer within the Corporate Trust Administration of the Trustee (or any
successor group of the Trustee) with direct responsibility for the
administration of this Indenture and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular subject.

         "Restricted Definitive Note" means a Definitive Note bearing the
Private Placement Legend.

         "Restricted Global Note" means a Global Note bearing the Private
Placement Legend.

         "Restricted Investment" means an Investment other than a Permitted
Investment.

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

         "Rule 144" means Rule 144 promulgated under the Securities Act.

         "Rule 144A" means Rule 144A promulgated under the Securities Act.

         "Rule 144A Global Note" means a global note substantially in the form
of Exhibit A hereto bearing the Global Note Legend and the Private Placement
Legend and deposited with or on behalf of, and registered in the name of, the
Depositary or its nominee that will be issued in an initial denomination equal
to the outstanding principal amount of the Initial Notes or any Initial
Additional Notes, in each case initially sold in reliance on Rule 144A.

         "Rule 903" means Rule 903 promulgated under the Securities Act.

         "Rule 904" means Rule 904 promulgated under the Securities Act.

                                     - 21 -
<PAGE>

         "S&P" means Standard & Poor's Ratings Service, a division of the
McGraw-Hill Companies, Inc. or any successor to the rating agency business
thereof.

         "Securities Act" means the Securities Act of 1933, as amended.

         "Shelf Registration Statement" means a "shelf" registration statement
providing for the registration and the sale on a continuous or delayed basis of
the Initial Notes or any Initial Additional Notes as may be provided in any
Registration Rights Agreement.

         "Significant Subsidiary" means (a) with respect to any Person, any
Restricted Subsidiary of such Person which would be considered a "Significant
Subsidiary" as defined in Rule 1-02(w) of Regulation S-X under the Securities
Act and (b) in addition, with respect to the Company, Capital Corp.

         "Special Interest" means special or additional interest in respect of
the Notes that is payable by the Issuers as liquidated damages upon specified
registration defaults pursuant to any Registration Rights Agreement.

         "Stated Maturity" means, with respect to any installment of interest or
principal on any series of Indebtedness, the date on which such payment of
interest or principal was scheduled to be paid in the documentation governing
such Indebtedness on the Issue Date, or, if none, the original documentation
governing such Indebtedness, and shall not include any contingent obligations to
repay, redeem or repurchase any such interest or principal prior to the date
originally scheduled for the payment thereof.

         "Subsidiary" means, with respect to any Person:

         (1) any corporation, association or other business entity of which at
least 50% of the total voting power of shares of Capital Stock entitled (without
regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries
of that Person (or a combination thereof) and, in the case of any such entity of
which 50% of the total voting power of shares of Capital Stock is so owned or
controlled by such Person or one or more of the other Subsidiaries of such
Person, such Person and its Subsidiaries also have the right to control the
management of such entity pursuant to contract or otherwise; and

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

         "Tax" shall mean any tax, duty, levy, impost, assessment or other
governmental charge (including penalties, interest and any other liabilities
related thereto).

         "Telerate Page 3750" means the display designated as "Page 3750" on the
Moneyline Telerate service (or such other page as may replace Page 3750 on that
service or a successor service).

                                     - 22 -
<PAGE>

         "TIA" means the Trust Indenture Act of 1939 (15 U.S.C. ss.ss.
77aaa-77bbbb) as in effect on the date on which this Indenture is qualified
under the TIA; provided, however, that in the event the Trust Indenture Act of
1939 is amended after such date, then "TIA" means, to the extent required by
such amendment, the Trust Indenture Act of 1939 as so amended.

         "Trustee" means Wells Fargo Bank, N.A. until a successor replaces Wells
Fargo Bank, N.A. in accordance with the applicable provisions of this Indenture
and thereafter means the successor serving hereunder.

         "Unrestricted Definitive Note" means one or more Definitive Notes that
do not bear and are not required to bear the Private Placement Legend.

         "Unrestricted Global Note" means a permanent global note substantially
in the form of Exhibit A attached hereto that bears the Global Note Legend and
that has the "Schedule of Exchanges of Interests in the Global Note" attached
thereto, and that is deposited with or on behalf of and registered in the name
of the Depositary, representing a series of Notes that do not bear the Private
Placement Legend.

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

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

         (2) is not party to any agreement, contract, arrangement or
understanding with the Company or any Restricted Subsidiary thereof unless the
terms of any such agreement, contract, arrangement or understanding are no less
favorable to the Company or any Restricted Subsidiary than those that might be
obtained at the time from Persons who are not Affiliates of the Company unless
such terms constitute Investments permitted under Section 4.08, Permitted
Investments, Asset Sales permitted under Section 4.11 or sale and leaseback
transactions permitted under Section 4.12;

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

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

         (5) has at least one director on its board of directors or comparable
governing body that is not a director or executive officer of the Company or any
of its Restricted Subsidiaries, or has at least one executive officer that is
not a director or executive officer of the Company or any of its Restricted
Subsidiaries; and

         (6) does not own any Capital Stock of any Restricted Subsidiary of the
Company.

                                     - 23 -
<PAGE>

         Any designation of a Subsidiary of the Company as an Unrestricted
Subsidiary shall be evidenced to the Trustee by filing with the Trustee a
certified copy of the board resolution giving effect to such designation and an
Officers' Certificate certifying that such designation complied with the
preceding conditions and was permitted by Section 4.08. If, at any time, any
Unrestricted Subsidiary would fail to meet the preceding requirements as an
Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted
Subsidiary for purposes of this Indenture and any Indebtedness of such
Subsidiary shall be deemed to be incurred by a Restricted Subsidiary of the
Company as of such date and, if such Indebtedness is not permitted to be
incurred as of such date under Section 4.10, the Company shall be in default of
such covenant. The Board of Directors of the Company may at any time designate
any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that such
designation shall be deemed to be an incurrence of Indebtedness by a Restricted
Subsidiary of any outstanding Indebtedness of such Unrestricted Subsidiary and
such designation shall only be permitted if:

         (1) such Indebtedness is permitted under Section 4.10 calculated on a
pro forma basis as if such designation had occurred at the beginning of the
four-quarter reference period; and

         (2) no Default or Event of Default would be in existence immediately
following such designation.

         "U.S. Person" means a U.S. person as defined in Rule 902(k) under the
Securities Act.

         "Voting Stock" of any Person as of any date means the Capital Stock of
such Person that is at the time entitled to vote in the election of the board of
directors or comparable governing body of such Person.

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

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

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

         "Wholly Owned Restricted Subsidiary" of any Person means a Restricted
Subsidiary of such Person all of the outstanding common equity interests or
other ownership interests of which (other than directors' qualifying shares)
shall at the time be owned by such Person and/or by one or more Wholly Owned
Restricted Subsidiaries of such Person.

                                     - 24 -
<PAGE>

Section 1.02. Other Definitions.

<TABLE>
<CAPTION>
                                                                     Defined in
Term                                                                  Section
----                                                                 ----------
<S>                                                                  <C>
"Affiliate Transaction"..................................               4.13
"Asset Sale Offer".......................................               3.09
"Authentication Order"...................................               2.02
"Change of Control Offer"................................               4.16
"Change of Control Payment"..............................               4.16
"Change of Control Payment Date".........................               4.16
"Covenant Defeasance"....................................               8.03
"DTC"....................................................               2.03
"Event of Default".......................................               6.01
"Excess Proceeds"........................................               4.11
"incur"..................................................               4.10
"Legal Defeasance".......................................               8.02
"Offer Amount"...........................................               3.09
"Offer Period"...........................................               3.09
"Paying Agent"...........................................               2.03
"Payment Default"........................................               6.01
"Permitted Debt".........................................               4.10
"Preferred Stock Financing"..............................               4.10
"Purchase Date"..........................................               3.09
"Registrar"..............................................               2.03
"Restricted Payments"....................................               4.07
"Subordinated Debt Financing"............................               4.10
"Subordinated Notes".....................................               4.10
"Subsidiary Guarantee"...................................               4.17
"Suspended Covenants"....................................               4.19
</TABLE>

Section 1.03. Incorporation by Reference of Trust Indenture Act.

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

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

         "indenture securities" means the Notes;

         "indenture security Holder" means a Holder of a Note;

         "indenture to be qualified" means this Indenture;

         "indenture trustee" or "institutional trustee" means the Trustee; and

         "obligor" on the Notes means the Issuers and any successor obligor upon
the Notes.

                                     - 25 -
<PAGE>

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

Section 1.04. Rules of Construction.

         Unless the context otherwise requires:

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

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

                           (iii) "or" is not exclusive;

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

                           (v) provisions apply to successive events and
                  transactions;

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

                           (vii) references to any statute, law, rule or
                  regulation shall be deemed to refer to the same as from time
                  to time amended and in effect and to any successor statute,
                  law, rule or regulation; and

                           (viii) references to any contract, agreement or
                  instrument shall mean the same as amended, modified,
                  supplemented or amended and restated from time to time, in
                  each case, in accordance with any applicable restrictions
                  contained in this Indenture.

                                    ARTICLE 2

                                    THE NOTES

Section 2.01. Form and Dating.

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

         The terms and provisions contained in the Notes shall constitute, and
are hereby expressly made, a part of this Indenture and the Issuers and the
Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound

                                     - 26 -
<PAGE>

thereby. However, to the extent any provision of any Note conflicts with the
express provisions of this Indenture, the provisions of this Indenture shall
govern and be controlling.

         (b) Global Notes. Notes issued in global form shall be substantially in
the form of Exhibit A attached hereto (including the Global Note Legend thereon
and the "Schedule of Exchanges of Interests in the Global Note" attached
thereto). Notes issued in definitive form shall be substantially in the form of
Exhibit A attached hereto (but without the Global Note Legend thereon and
without the "Schedule of Exchanges of Interests in the Global Note" attached
thereto). Each Global Note shall represent such of the outstanding Notes as
shall be specified therein and each shall provide that it shall represent the
aggregate principal amount of outstanding Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented
thereby may from time to time be reduced or increased, as appropriate, to
reflect exchanges and redemptions. Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby shall be made by the Trustee or the
custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as required by Section 2.06.

         (c) Euroclear and Clearstream Procedures Applicable. The Applicable
Procedures shall apply to transfers of beneficial interests in the Regulation S
Global Notes that are held by Participants through Euroclear or Clearstream.

Section 2.02. Execution and Authentication.

         Two Officers shall sign the Notes for each Issuer by manual or
facsimile signature.

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

         A Note shall not be valid until authenticated by the manual signature
(which may be by facsimile) of the Trustee. The signature shall be conclusive
evidence that the Note has been authenticated under this Indenture.

         At any time and from time to time after the execution and delivery of
this Indenture, the Issuers may deliver Notes executed by the Issuers to the
Trustee for authentication; and the Trustee shall authenticate and deliver (i)
Initial Notes for original issue in the aggregate principal amount of
$550,000,000, (ii) Additional Notes from time to time for original issue in
aggregate principal amount specified by the Issuers and (iii) Exchange Notes
from time to time for issue in exchange for a like principal amount of Initial
Notes or Initial Additional Notes, in each case specified in clauses (i) through
(iii) above, upon a written order of the Issuers signed by an Officer of each of
the Issuers (an "Authentication Order"). Such Authentication Order shall specify
the amount of Notes to be authenticated and the date on which the Notes are to
be authenticated, whether such notes are to be Initial Notes, Additional Notes
or Exchange Notes and whether the Notes are to be issued as one or more Global
Notes and such other information as the Issuers may include or the Trustee may
reasonably request. The aggregate principal amount of Notes which may be
authenticated and delivered under this Indenture is unlimited.

                                     - 27 -
<PAGE>

         On the Issue Date, the Issuers will issue $550,000,000 aggregate
principal amount of Initial Notes. Initial Notes and any Initial Additional
Notes offered and sold in reliance on the exemption from registration under the
Securities Act provided by Section 4(2) thereunder or Rule 144A shall be issued
as one or more Rule 144A Global Notes. Initial Notes and any Initial Additional
Notes offered and sold in offshore transactions in reliance on Regulation S
shall be issued as one or more Regulation S Global Notes.

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

Section 2.03. Registrar, Paying Agent and Calculation Agent.

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

         The Issuers initially appoint The Depository Trust Company ("DTC") to
act as Depositary with respect to the Global Notes.

         The Issuers initially appoint the Trustee to act as the Registrar,
Paying Agent and Calculation Agent and to act as Custodian with respect to the
Global Notes.

Section 2.04. Paying Agent to Hold Money in Trust.

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

                                     - 28 -
<PAGE>

Section 2.05. Holder Lists.

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

Section 2.06. Transfer and Exchange.

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

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

                  (ii) the Issuers in their sole discretion determine that the
         Global Notes (in whole but not in part) should be exchanged for
         Definitive Notes and deliver a written notice to such effect to the
         Trustee; or

                  (iii) there shall have occurred and be continuing a Default or
         Event of Default with respect to the Notes.

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

         (b) Transfer and Exchange of Beneficial Interests in the Global Notes.
The transfer and exchange of beneficial interests in the Global Notes shall be
effected through the Depositary, in accordance with the provisions of this
Indenture and the Applicable Procedures. Beneficial interests in the Restricted
Global Notes shall be subject to restrictions on transfer comparable to those
set forth herein to the extent required by the Securities Act. Prior to the
expiration of the 40-day distribution compliance period set forth in Regulation
S, beneficial interests in any Regulation S Global Notes may be held only

                                     - 29 -
<PAGE>

through Euroclear or Clearstream unless transferred in accordance with Section
2.06(b)(iii)(A). Transfers of beneficial interests in the Global Notes also
shall require compliance with either subparagraph (i) or (ii) below, as
applicable, as well as one or more of the other following subparagraphs, as
applicable:

                  (i) Transfer of Beneficial Interests in the Same Global Note.
         Beneficial interests in any Restricted Global Note may be transferred
         to Persons who take delivery thereof in the form of a beneficial
         interest in the same Restricted Global Note in accordance with the
         transfer restrictions set forth in the Private Placement Legend.
         Beneficial interests in any Unrestricted Global Note may be transferred
         to Persons who take delivery thereof in the form of a beneficial
         interest in an Unrestricted Global Note. No written orders or
         instructions shall be required to be delivered to the Registrar to
         effect the transfers described in this Section 2.06(b)(i).

                  (ii) All Other Transfers and Exchanges of Beneficial Interests
         in Global Notes. In connection with all transfers and exchanges of
         beneficial interests that are not subject to Section 2.06(b)(i) above,
         the transferor of such beneficial interest must deliver to the
         Registrar either:

                           (A) a written order from a Participant or an Indirect
                  Participant given to the Depositary in accordance with the
                  Applicable Procedures directing the Depositary to credit or
                  cause to be credited a beneficial interest in another Global
                  Note in an amount equal to the beneficial interest to be
                  transferred or exchanged; and

                           (B) instructions given in accordance with the
                  Applicable Procedures containing information regarding the
                  Participant account to be credited with such increase; or

                           (C) a written order from a Participant or an Indirect
                  Participant given to the Depositary in accordance with the
                  Applicable Procedures directing the Depositary to cause to be
                  issued a Definitive Note in an amount equal to the beneficial
                  interest to be transferred or exchanged; and

                           (D) instructions given by the Depositary to the
                  Registrar containing information regarding the Person in whose
                  name such Definitive Note shall be registered to effect the
                  transfer or exchange referred to in (A) above.

Upon consummation of an Exchange Offer by the Issuers in accordance with Section
2.06(f), the requirements of this Section 2.06(b)(ii) shall be deemed to have
been satisfied upon receipt by the Registrar of the instructions contained in
the Letter of Transmittal delivered by the holder of such beneficial interests
in the Restricted Global Notes. Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this
Indenture and the Notes or otherwise applicable under the Securities Act, the
Trustee shall adjust the principal amount of the relevant Global Note(s)
pursuant to Section 2.06(h).

                  (iii) Transfer of Beneficial Interests to Another Restricted
         Global Note. A beneficial interest in any Restricted Global Note may be
         transferred to a Person who

                                     - 30 -
<PAGE>

         takes delivery thereof in the form of a beneficial interest in another
         Restricted Global Note if the transfer complies with the requirements
         of Section 2.06(b)(ii) above and the Registrar receives the following:

                           (A) if the transferee will take delivery in the form
                  of a beneficial interest in the Rule 144A Global Note, then
                  the transferor must deliver a certificate in the form of
                  Exhibit B hereto, including the certifications in item (1)
                  thereof; and

                           (B) if the transferee will take delivery in the form
                  of a beneficial interest in the Regulation S Global Note, then
                  the transferor must deliver a certificate in the form of
                  Exhibit B hereto, including the certifications in item (2)
                  thereof.

                  (iv) Transfer and Exchange of Beneficial Interests in a
         Restricted Global Note for Beneficial Interests in an Unrestricted
         Global Note. A beneficial interest in any Restricted Global Note may be
         exchanged by any holder thereof for a beneficial interest in an
         Unrestricted Global Note or transferred to a Person who takes delivery
         thereof in the form of a beneficial interest in an Unrestricted Global
         Note if the exchange or transfer complies with the requirements of
         Section 2.06(b)(ii) above and:

                           (A) such exchange or transfer is effected pursuant to
                  an Exchange Offer in accordance with a Registration Rights
                  Agreement and the holder of the beneficial interest to be
                  transferred, in the case of an exchange, or the transferee, in
                  the case of a transfer, certifies in the applicable Letter of
                  Transmittal that it is not (1) a broker- dealer, (2) a Person
                  participating in the distribution of the relevant Exchange
                  Notes or (3) a Person who is an affiliate (as defined in Rule
                  144) of the Issuers;

                           (B) such transfer is effected pursuant to a Shelf
                  Registration Statement in accordance with a Registration
                  Rights Agreement;

                           (C) such transfer is effected by a broker- dealer
                  pursuant to the Exchange Offer Registration Statement in
                  accordance with a Registration Rights Agreement; or

                           (D) such exchange or transfer is effected after the
                  expiration of the 40-day distribution compliance period set
                  forth in Regulation S and the Registrar receives the
                  following:

                                    (1) if the holder of such beneficial
                           interest in a Restricted Global Note proposes to
                           exchange such beneficial interest for a beneficial
                           interest in an Unrestricted Global Note, a
                           certificate from such holder in the form of Exhibit C
                           hereto, including the certifications in item (1)(a)
                           thereof; or

                                    (2) if the holder of such beneficial
                           interest in a Restricted Global Note proposes to
                           transfer such beneficial interest to a Person

                                     - 31 -
<PAGE>

                           who shall take delivery thereof in the form of a
                           beneficial interest in an Unrestricted Global Note, a
                           certificate from such holder in the form of Exhibit B
                           hereto, including the certifications in item (4)
                           thereof;

                  and, in each such case set forth in this subparagraph (D), if
                  the Registrar so requests or if the Applicable Procedures so
                  require, an Opinion of Counsel in form reasonably acceptable
                  to the Registrar to the effect that such exchange or transfer
                  is in compliance with the Securities Act and that the
                  restrictions on transfer contained herein and in the Private
                  Placement Legend are no longer required in order to maintain
                  compliance with the Securities Act.

                  If any such transfer is effected pursuant to subparagraph (B)
         or (D) above at a time when an Unrestricted Global Note has not yet
         been issued, the Issuers shall issue and, upon receipt of an
         Authentication Order in accordance with Section 2.02, the Trustee shall
         authenticate one or more Unrestricted Global Notes in an aggregate
         principal amount equal to the aggregate principal amount of beneficial
         interests transferred pursuant to subparagraph (B) or (D) above.

         Beneficial interests in an Unrestricted Global Note cannot be exchanged
for, or transferred to Persons who take delivery thereof in the form of, a
beneficial interest in a Restricted Global Note.

         (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

                  (i) Beneficial Interests in Restricted Global Notes to
         Restricted Definitive Notes. If any holder of a beneficial interest in
         a Restricted Global Note proposes to exchange such beneficial interest
         for a Restricted Definitive Note or to transfer such beneficial
         interest to a Person who takes delivery thereof in the form of a
         Restricted Definitive Note, then, upon receipt by the Registrar of the
         following documentation:

                           (A) if the holder of such beneficial interest in a
                  Restricted Global Note proposes to exchange such beneficial
                  interest for a Restricted Definitive Note, a certificate from
                  such holder in the form of Exhibit C hereto, including the
                  certifications in item (2)(a) thereof (provided that any such
                  beneficial interest in Regulation S Global Note shall not be
                  so exchangeable until after the expiration of the 40-day
                  distribution compliance period set forth in Regulation S);

                           (B) if such beneficial interest is being transferred
                  to a QIB in accordance with Rule 144A under the Securities
                  Act, a certificate to the effect set forth in Exhibit B
                  hereto, including the certifications in item (1) thereof;

                           (C) if such beneficial interest is being transferred
                  to a Non- U.S. Person in an offshore transaction in accordance
                  with Rule 903 or Rule 904 under the Securities Act, a
                  certificate to the effect set forth in Exhibit B hereto,
                  including the certifications in item (2) thereof;

                                     - 32 -
<PAGE>

                           (D) if such beneficial interest is being transferred
                  pursuant to an exemption from the registration requirements of
                  the Securities Act in accordance with Rule 144 under the
                  Securities Act, a certificate to the effect set forth in
                  Exhibit B hereto, including the certifications in item (3)(a)
                  thereof;

                           (E) if such beneficial interest is being transferred
                  to an Institutional Accredited Investor in reliance on an
                  exemption from the registration requirements of the Securities
                  Act other than those listed in subparagraphs (B) through (D)
                  above, a certificate to the effect set forth in Exhibit B
                  hereto, including the certifications, certificates and Opinion
                  of Counsel required by item (3)(d) thereof, if applicable;

                           (F) if such beneficial interest is being transferred
                  to the Issuers or any of their Subsidiaries, a certificate to
                  the effect set forth in Exhibit B hereto, including the
                  certifications in item (3)(b) thereof; or

                           (G) if such beneficial interest is being transferred
                  pursuant to an effective registration statement under the
                  Securities Act, a certificate to the effect set forth in
                  Exhibit B hereto, including the certifications in item (3)(c)
                  thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global
Note to be reduced accordingly pursuant to Section 2.06(h), and the Issuers
shall execute and the Trustee shall authenticate and deliver to the Person
designated in the instructions a Definitive Note in the appropriate principal
amount. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be registered in
such name or names and in such authorized denomination or denominations as the
holder of such beneficial interest shall instruct the Registrar through
instructions from the Depositary and the Participant or Indirect Participant.
The Trustee shall deliver such Definitive Notes to the Persons in whose names
such Notes are so registered. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section
2.06(c)(i) shall bear the Private Placement Legend and shall be subject to all
restrictions on transfer contained therein.

                  (ii) Beneficial Interests in Restricted Global Notes to
         Unrestricted Definitive Notes. A holder of a beneficial interest in a
         Restricted Global Note may exchange such beneficial interest for an
         Unrestricted Definitive Note or may transfer such beneficial interest
         to a Person who takes delivery thereof in the form of an Unrestricted
         Definitive Note only if:

                           (A) such exchange or transfer is effected pursuant to
                  an Exchange Offer in accordance with a Registration Rights
                  Agreement and the holder of such beneficial interest, in the
                  case of an exchange, or the transferee, in the case of a
                  transfer, certifies in the applicable Letter of Transmittal
                  that it is not (1) a broker- dealer, (2) a Person
                  participating in the distribution of the relevant Exchange
                  Notes or (3) a Person who is an affiliate (as defined in Rule
                  144) of the Issuers;

                                     - 33 -
<PAGE>

                           (B) such transfer is effected pursuant to a Shelf
                  Registration Statement in accordance with a Registration
                  Rights Agreement;

                           (C) such transfer is effected by a broker- dealer
                  pursuant to the Exchange Offer Registration Statement in
                  accordance with a Registration Rights Agreement; or

                           (D) such exchange or transfer is effected after the
                  expiration of the 40-day distribution compliance period set
                  forth in Regulation S and the Registrar receives the
                  following:

                                    (1) if the holder of such beneficial
                           interest in a Restricted Global Note proposes to
                           exchange such beneficial interest for a Definitive
                           Note that does not bear the Private Placement Legend,
                           a certificate from such holder in the form of Exhibit
                           C hereto, including the certifications in item (1)(b)
                           thereof; or

                                    (2) if the holder of such beneficial
                           interest in a Restricted Global Note proposes to
                           transfer such beneficial interest to a Person who
                           shall take delivery thereof in the form of a
                           Definitive Note that does not bear the Private
                           Placement Legend, a certificate from such holder in
                           the form of Exhibit B hereto, including the
                           certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in
form reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

                  (iii) Beneficial Interests in Unrestricted Global Notes to
         Unrestricted Definitive Notes. If any holder of a beneficial interest
         in an Unrestricted Global Note proposes to exchange such beneficial
         interest for a Definitive Note or to transfer such beneficial interest
         to a Person who takes delivery thereof in the form of a Definitive
         Note, then, upon satisfaction of the conditions set forth in Section
         2.06(b)(ii), the Trustee shall cause the aggregate principal amount of
         the applicable Global Note to be reduced accordingly pursuant to
         Section 2.06(h), and the Issuers shall execute and the Trustee shall
         authenticate and deliver to the Person designated in the instructions a
         Definitive Note in the appropriate principal amount. Any Definitive
         Note issued in exchange for a beneficial interest pursuant to this
         Section 2.06(c)(iii) shall be registered in such name or names and in
         such authorized denomination or denominations as the holder of such
         beneficial interest shall instruct the Registrar through instructions
         from the Depositary and the Participant or Indirect Participant. The
         Trustee shall deliver such Definitive Notes to the Persons in whose
         names such Notes are so registered. Any Definitive Note issued in
         exchange for a beneficial interest pursuant to this Section
         2.06(c)(iii) shall not bear the Private Placement Legend.

                                     - 34 -
<PAGE>

         (d) Transfer and Exchange of Definitive Notes for Beneficial Interests
in Global Notes.

                  (i) Restricted Definitive Notes to Beneficial Interests in
         Restricted Global Notes. If any Holder of a Restricted Definitive Note
         proposes to exchange such Note for a beneficial interest in a
         Restricted Global Note or to transfer such Restricted Definitive Notes
         to a Person who takes delivery thereof in the form of a beneficial
         interest in a Restricted Global Note, then, upon receipt by the
         Registrar of the following documentation:

                           (A) if the Holder of such Restricted Definitive Note
                  proposes to exchange such Note for a beneficial interest in a
                  Restricted Global Note, a certificate from such Holder in the
                  form of Exhibit C hereto, including the certifications in item
                  (2)(b) thereof;

                           (B) if such Restricted Definitive Note is being
                  transferred to a QIB in accordance with Rule 144A under the
                  Securities Act, a certificate to the effect set forth in
                  Exhibit B hereto, including the certifications in item (1)
                  thereof;

                           (C) if such Restricted Definitive Note is being
                  transferred to a Non- U.S. Person in an offshore transaction
                  in accordance with Rule 903 or Rule 904 under the Securities
                  Act, a certificate to the effect set forth in Exhibit B
                  hereto, including the certifications in item (2) thereof;

                           (D) if such Restricted Definitive Note is being
                  transferred pursuant to an exemption from the registration
                  requirements of the Securities Act in accordance with Rule 144
                  under the Securities Act, a certificate to the effect set
                  forth in Exhibit B hereto, including the certifications in
                  item (3)(a) thereof;

                           (E) if such Restricted Definitive Note is being
                  transferred to an Institutional Accredited Investor in
                  reliance on an exemption from the registration requirements of
                  the Securities Act other than those listed in subparagraphs
                  (B) through (D) above, a certificate to the effect set forth
                  in Exhibit B hereto, including the certifications,
                  certificates and Opinion of Counsel required by item (3)
                  thereof, if applicable;

                           (F) if such Restricted Definitive Note is being
                  transferred to the Company or any of its Subsidiaries, a
                  certificate to the effect set forth in Exhibit B hereto,
                  including the certifications in item (3)(b) thereof; or

                           (G) if such Restricted Definitive Note is being
                  transferred pursuant to an effective registration statement
                  under the Securities Act, a certificate to the effect set
                  forth in Exhibit B hereto, including the certifications in
                  item (3)(c) thereof,

the Trustee shall cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause (A) above,
the appropriate Restricted

                                     - 35 -
<PAGE>

Global Note, in the case of clause (B) above, the Rule 144A Global Note, in the
case of clause (C) above, the Regulation S Global Note.

                  (ii) Restricted Definitive Notes to Beneficial Interests in
         Unrestricted Global Notes. A Holder of a Restricted Definitive Note may
         exchange such Note for a beneficial interest in an Unrestricted Global
         Note or transfer such Restricted Definitive Note to a Person who takes
         delivery thereof in the form of a beneficial interest in an
         Unrestricted Global Note only if:

                           (A) such exchange or transfer is effected pursuant to
                  an Exchange Offer in accordance with a Registration Rights
                  Agreement and the Holder, in the case of an exchange, or the
                  transferee, in the case of a transfer, certifies in the
                  applicable Letter of Transmittal that it is not (1) a broker-
                  dealer, (2) a Person participating in the distribution of the
                  relevant Exchange Notes or (3) a Person who is an affiliate
                  (as defined in Rule 144) of the Issuers;

                           (B) such transfer is effected pursuant to a Shelf
                  Registration Statement in accordance with a Registration
                  Rights Agreement;

                           (C) such transfer is effected by a broker- dealer
                  pursuant to the Exchange Offer Registration Statement in
                  accordance with a Registration Rights Agreement; or

                           (D) such exchange or transfer is effected after the
                  expiration of the 40-day distribution compliance period set
                  forth in Regulation S and the Registrar receives the
                  following:

                                    (1) if the Holder of such Definitive Notes
                           proposes to exchange such Notes for a beneficial
                           interest in the Unrestricted Global Note, a
                           certificate from such Holder in the form of Exhibit C
                           hereto, including the certifications in item (1)(c)
                           thereof; or

                                    (2) if the Holder of such Definitive Notes
                           proposes to transfer such Notes to a Person who shall
                           take delivery thereof in the form of a beneficial
                           interest in the Unrestricted Global Note, a
                           certificate from such Holder in the form of Exhibit B
                           hereto, including the certifications in item (4)
                           thereof;

         and, in each such case set forth in this subparagraph (D), if the
         Registrar so requests or if the Applicable Procedures so require, an
         Opinion of Counsel in form reasonably acceptable to the Registrar to
         the effect that such exchange or transfer is in compliance with the
         Securities Act and that the restrictions on transfer contained herein
         and in the Private Placement Legend are no longer required in order to
         maintain compliance with the Securities Act.

Upon satisfaction of the conditions of any of the subparagraphs in this Section
2.06(d)(ii), the Trustee shall cancel the Definitive Notes and increase or cause
to be increased the aggregate principal amount of the Unrestricted Global Note.

                                     - 36 -
<PAGE>

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

                  If any such exchange or transfer from a Definitive Note to a
         beneficial interest is effected pursuant to subparagraphs (ii)(B),
         (ii)(D) or (iii) above at a time when an Unrestricted Global Note has
         not yet been issued, the Issuers shall issue and, upon receipt of an
         Authentication Order in accordance with Section 2.02, the Trustee shall
         authenticate one or more Unrestricted Global Notes in an aggregate
         principal amount equal to the principal amount of Definitive Notes so
         transferred.

         (e) Transfer and Exchange of Definitive Notes for Definitive Notes.
Upon request by a Holder of Definitive Notes and such Holder's compliance with
the provisions of this Section 2.06(e), the Registrar shall register the
transfer or exchange of Definitive Notes. Prior to such registration of transfer
or exchange, the requesting Holder shall present or surrender to the Registrar
the Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by its attorney, duly authorized in writing. In addition, the requesting Holder
shall provide any additional certifications, documents and information, as
applicable, required pursuant to the following provisions of this Section
2.06(e).

                  (i) Restricted Definitive Notes to Restricted Definitive
         Notes. Any Restricted Definitive Note may be transferred to and
         registered in the name of Persons who take delivery thereof in the form
         of a Restricted Definitive Note if the Registrar receives the
         following:

                           (A) if the transfer will be made pursuant to Rule
                  144A under the Securities Act, then the transferor must
                  deliver a certificate in the form of Exhibit B hereto,
                  including the certifications in item (1) thereof;

                           (B) if the transfer will be made pursuant to Rule 903
                  or Rule 904, then the transferor must deliver a certificate in
                  the form of Exhibit B hereto, including the certifications in
                  item (2) thereof; and

                           (C) if the transfer will be made pursuant to any
                  other exemption from the registration requirements of the
                  Securities Act, then the transferor must deliver a certificate
                  in the form of Exhibit B hereto, including the certifications,
                  certificates and Opinion of Counsel required by item (3)
                  thereof, if applicable.

                  (ii) Restricted Definitive Notes to Unrestricted Definitive
         Notes. Any Restricted Definitive Note may be exchanged by the Holder
         thereof for an

                                     - 37 -
<PAGE>

         Unrestricted Definitive Note or transferred to a Person or Persons who
         take delivery thereof in the form of an Unrestricted Definitive Note
         if:

                           (A) such exchange or transfer is effected pursuant to
                  an Exchange Offer in accordance with a Registration Rights
                  Agreement and the Holder, in the case of an exchange, or the
                  transferee, in the case of a transfer, certifies in the
                  applicable Letter of Transmittal that it is not (1) a broker-
                  dealer, (2) a Person participating in the distribution of the
                  relevant Exchange Notes or (3) a Person who is an affiliate
                  (as defined in Rule 144) of the Issuers;

                           (B) any such transfer is effected pursuant to a Shelf
                  Registration Statement in accordance with a Registration
                  Rights Agreement;

                           (C) any such transfer is effected by a broker-dealer
                  pursuant to an Exchange Offer Registration Statement in
                  accordance with a Registration Rights Agreement; or

                           (D) such exchange or transfer is effected after the
                  expiration of the 40-day distribution compliance period set
                  forth in Regulation S and the Registrar receives the
                  following:

                                    (1) if the Holder of such Restricted
                           Definitive Notes proposes to exchange such Notes for
                           an Unrestricted Definitive Note, a certificate from
                           such Holder in the form of Exhibit C hereto,
                           including the certifications in item (1)(d) thereof;
                           or

                                    (2) if the Holder of such Restricted
                           Definitive Notes proposes to transfer such Notes to a
                           Person who shall take delivery thereof in the form of
                           an Unrestricted Definitive Note, a certificate from
                           such Holder in the form of Exhibit B hereto,
                           including the certifications in item (4) thereof;

         and, in each such case set forth in this subparagraph (D), if the
         Registrar so requests, an Opinion of Counsel in form reasonably
         acceptable to the Issuers to the effect that such exchange or transfer
         is in compliance with the Securities Act and that the restrictions on
         transfer contained herein and in the Private Placement Legend are no
         longer required in order to maintain compliance with the Securities
         Act.

                  (iii) Unrestricted Definitive Notes to Unrestricted Definitive
         Notes. A Holder of Unrestricted Definitive Notes may transfer such
         Notes to a Person who takes delivery thereof in the form of an
         Unrestricted Definitive Note. Upon receipt of a request to register
         such a transfer, the Registrar shall register the Unrestricted
         Definitive Notes pursuant to the instructions from the Holder thereof.

         (f) Exchange Offer. Upon the occurrence of an Exchange Offer in
accordance with a Registration Rights Agreement, the Issuers shall issue and,
upon receipt of an Authentication Order in accordance with Section 2.02, the
Trustee shall authenticate (i) one or more Unrestricted Global Notes in an
aggregate principal amount equal to the principal amount of the beneficial
interests in the Restricted Global Notes tendered for acceptance by

                                     - 38 -
<PAGE>

Persons that certify in the applicable Letters of Transmittal that (x) they are
not broker- dealers, (y) they are not participating in a distribution of the
relevant Exchange Notes and (z) they are not affiliates (as defined in Rule 144)
of the Issuers, and accepted for exchange in the relevant Exchange Offer and
(ii) Definitive Notes in an aggregate principal amount equal to the principal
amount of the Restricted Definitive Notes accepted for exchange in the relevant
Exchange Offer. Concurrently with the issuance of such Notes, the Trustee shall
cause the aggregate principal amount of the applicable Restricted Global Notes
to be reduced accordingly, and the Issuers shall execute and the Trustee shall
authenticate and deliver to the Persons designated by the Holders of Definitive
Notes so accepted Definitive Notes in the appropriate principal amount.

         (g) Legends. The following legends shall appear on the face of all
Global Notes and Definitive Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture.

                  (i) Private Placement Legend.

                           (A) Except as permitted by subparagraph (B) below,
                  each Global Note and each Definitive Note (and all Notes
                  issued in exchange therefor or substitution thereof) shall
                  bear the legend in substantially the following form:

         "THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
         STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR
         PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
         PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
         REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
         TO, SUCH REGISTRATION."

         "THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER,
         SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE
         "RESALE RESTRICTION TERMINATION DATE") WHICH IS TWO YEARS AFTER THE
         LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE
         COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY
         (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY
         OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS
         BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS
         THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
         SECURITIES ACT ("RULE 144A"), TO A PERSON IT REASONABLY BELIEVES IS A
         "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A THAT PURCHASES
         FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
         BUYER TO WHOM

                                     - 39 -
<PAGE>

         NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
         144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR
         OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
         SECURITIES ACT, (E) TO AN "ACCREDITED INVESTOR" WITHIN THE MEANING OF
         RULE 501(A)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN
         INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN
         ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED
         INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES
         OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR
         OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE
         SECURITIES ACT OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM
         THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
         COMPANY'S AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
         TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF
         AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
         SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE
         REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE."

                           (B) Notwithstanding the foregoing, any Global Note or
                  Definitive Note issued pursuant to subparagraphs (b)(iv),
                  (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f)
                  to this Section 2.06 (and all Notes issued in exchange
                  therefor or substitution thereof) shall not bear the Private
                  Placement Legend.

                  (ii) Global Note Legend. Each Global Note shall bear a legend
         in substantially the following form:

         "THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
         INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
         BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
         PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE
         SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF
         THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT
         IN PART PURSUANT TO SECTION 2.06(A) OF THE INDENTURE, (III) THIS GLOBAL
         NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO
         SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
         TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF
         THE ISSUERS."

                                     - 40 -
<PAGE>

                  (ii) Regulation S Legend. Each temporary Regulation S Global
         Note should bear a legend in substantially the following form:

         "THE ISSUERS HAVE REQUESTED THE DEPOSITORY TRUST COMPANY NOT TO
         TRANSFER ANY INTEREST IN THIS GLOBAL NOTE BY EFFECTING BOOK-ENTRY
         DELIVERIES UNTIL JANUARY 24, 2005 EXCEPT TO A NON-U.S. PERSON IN
         COMPLIANCE WITH REGULATION S OR TO A QUALIFIED INSTITUTIONAL BUYER IN
         ACCORDANCE WITH RULE 144A UNDER THE SECURITIES ACT, IN EACH CASE IN
         ACCORDANCE WITH THE TRANSFER PROVISIONS SET FORTH IN SECTION 2 OF THE
         INDENTURE."

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

         (i) General Provisions Relating to Transfers and Exchanges.

                  (i) To permit registrations of transfers and exchanges, the
         Issuers shall execute and the Trustee shall authenticate Global Notes
         and Definitive Notes upon the Issuers' order or at the Registrar's
         request.

                  (ii) No service charge shall be made to a holder of a
         beneficial interest in a Global Note or to a Holder of a Definitive
         Note for any registration of transfer or exchange, but the Issuers may
         require payment of a sum sufficient to cover any transfer tax or
         similar governmental charge payable in connection therewith (other than
         any such transfer taxes or similar governmental charge payable upon
         exchange or transfer pursuant to Sections 2.10, 3.09, 4.11, 4.16 and
         9.05).

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

                  (iv) All Global Notes and Definitive Notes issued upon any
         registration of transfer or exchange of Global Notes or Definitive
         Notes shall be the valid obligations of the Issuers, evidencing the
         same debt, and entitled to the same benefits

                                     - 41 -
<PAGE>

         under this Indenture, as the Global Notes or Definitive Notes
         surrendered upon such registration of transfer or exchange.

                  (v) The Issuers shall not be required to register the transfer
         of or to exchange a Note between a record date and the next succeeding
         Interest Payment Date.

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

                  (vii) The Trustee shall authenticate Global Notes and
         Definitive Notes in accordance with the provisions of Section 2.02.

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

Section 2.07. Replacement Notes.

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

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

Section 2.08. Outstanding Notes.

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

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

                                     - 42 -
<PAGE>

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

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

Section 2.09. Treasury Notes.

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

Section 2.10. Temporary Notes.

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

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

Section 2.11. Cancellation.

         The Issuers at any time may deliver Notes to the Trustee for
cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The
Trustee and no one else shall cancel all Notes surrendered for registration of
transfer, exchange, payment, replacement or cancellation and shall dispose of
such canceled Notes in its customary manner. The Issuers may not issue new Notes
to replace Notes that they have paid or that have been delivered to the Trustee
for cancellation.

Section 2.12. Defaulted Interest.

         If the Issuers default in a payment of interest on the Notes, they
shall pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are
Holders on a subsequent special record date, in each case at the rate provided
in the Notes and in Section 4.01. The Issuers shall notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and
the date of the proposed payment. The Issuers shall fix or cause to be fixed
each such special record date and payment date; provided that no such special
record date shall be less than 10 days prior to the related payment date for
such defaulted interest. At least 15 days

                                     - 43 -
<PAGE>

before the special record date, the Issuers (or, upon the written request of the
Issuers, the Trustee in the name and at the expense of the Issuers) shall mail
or cause to be mailed to Holders a notice that states the special record date,
the related payment date and the amount of such interest to be paid.

                                    ARTICLE 3

                            REDEMPTION AND PREPAYMENT

Section 3.01. Notices to Trustee.

         If the Issuers elect to redeem Notes pursuant to the optional
redemption provisions of Section 3.07, they shall furnish to the Trustee, at
least 30 days but not more than 60 days before a redemption date, an Officers'
Certificate setting forth (i) the clause of this Indenture pursuant to which the
redemption shall occur, (ii) the redemption date, (iii) the principal amount of
Notes to be redeemed and (iv) the redemption price.

Section 3.02. Selection of Notes to Be Redeemed.

         If less than all of the Notes are to be redeemed or purchased in an
offer to purchase at any time, the Trustee shall select the Notes to be redeemed
or purchased among the Holders of the Notes in compliance with the requirements
of the principal national securities exchange, if any, on which the Notes are
listed or, if the Notes are not so listed, on a pro rata basis, by lot or in
accordance with any other method the Trustee considers fair and appropriate. In
the event of partial redemption by lot, the particular Notes to be redeemed
shall be selected, unless otherwise provided herein, not less than 30 nor more
than 60 days prior to the redemption date by the Trustee from the outstanding
Notes not previously called for redemption.

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

Section 3.03. Notice of Redemption.

         Subject to the provisions of Section 3.09, at least 30 days but not
more than 60 days before a redemption date, the Issuers shall mail or cause to
be mailed, by first class mail, a notice of redemption to each Holder whose
Notes are to be redeemed at its registered address.

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

                  (a) the redemption date;

                                     - 44 -
<PAGE>

                  (b) the redemption price;

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

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

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

                  (f) that, unless the Issuers default in making such redemption
         payment, interest on Notes called for redemption ceases to accrue on
         and after the redemption date;

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

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

         At the Issuers' request, the Trustee shall give the notice of
redemption in the Issuers' name and at their expense; provided, however, that
each of the Issuers shall have delivered to the Trustee, at least 45 days prior
to the redemption date, an Officers' Certificate requesting that the Trustee
give such notice and setting forth the information to be stated in such notice
as provided in the preceding paragraph.

Section 3.04. Effect of Notice of Redemption.

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

Section 3.05. Deposit of Redemption Price.

         At or prior to 10:00 a.m., New York City time, on the redemption date,
the Issuers shall deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption price of and accrued interest on all Notes to
be redeemed on that date. The Trustee or the Paying Agent shall promptly return
to the Issuers any money deposited with the Trustee or the Paying Agent by the
Issuers in excess of the amounts necessary to pay the redemption price of, and
accrued interest on, all Notes to be redeemed.

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

                                     - 45 -
<PAGE>

because of the failure of the Issuers to comply with the preceding paragraph,
interest shall be paid on the unpaid principal, from the redemption date until
such principal is paid, and to the extent lawful on any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in
Section 4.01.

Section 3.06. Notes Redeemed in Part.

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

Section 3.07. Optional Redemption.

                  (a) Except as set forth in clause (b) of this Section 3.07,
         the Issuers shall not have the option to redeem the Notes pursuant to
         this Section 3.07 prior to December 15, 2006. Thereafter, the Issuers
         shall have the option to redeem the Notes, in whole or in part, upon
         not less than 30 nor more than 60 days' notice, at the redemption
         prices (expressed as percentages of principal amount) set forth below
         plus accrued and unpaid interest thereon, if any, to the applicable
         redemption date, if redeemed during the twelve-month period beginning
         on December 15 of the years indicated below:

<TABLE>
<CAPTION>
      Year                                     Percentage
      ----                                     ----------
<S>                                            <C>
2006                                            102.000%
2007                                            101.000%
2008 and thereafter                             100.000%
</TABLE>

                  (b) Notwithstanding the provisions of clause (a) of this
         Section 3.07, at any time prior to December 15, 2006, the Issuers may,
         on any one or more occasions, redeem up to 35% of the original
         aggregate principal amount of the Notes (including the principal amount
         of any Additional Notes) issued under this Indenture on a pro rata
         basis (or nearly as pro rata as practicable) at a redemption price of
         100.00% of the principal amount thereof, plus a premium equal to the
         interest rate per annum applicable to the Notes on the date the notice
         of redemption is given, plus accrued and unpaid interest to the
         redemption date, with the net cash proceeds of one or more Equity
         Offerings; provided that:

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

                           (ii) the redemption must occur within 60 days of the
                  date of the closing of such Equity Offering.

                                     - 46 -
<PAGE>

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

Section 3.08. Mandatory Redemption.

         Except as otherwise provided in Section 4.11 or Section 4.16 below, the
Issuers shall not be required to make mandatory redemption payments with respect
to the Notes.

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

         In the event that the Issuers shall be required to commence an offer to
all Holders to purchase Notes pursuant to Section 4.11 (an "Asset Sale Offer"),
they shall follow the procedures specified below.

         The Asset Sale Offer shall remain open for a period of 20 Business Days
following its commencement and no longer, except to the extent that a longer
period is required by applicable law (the "Offer Period"). No later than five
Business Days after the termination of the Offer Period (the "Purchase Date"),
the Issuers shall purchase the principal amount of Notes required to be
purchased pursuant to Section 4.11 (the "Offer Amount") or, if less than the
Offer Amount has been tendered, all Notes tendered in response to the Asset Sale
Offer. Payment for any Notes so purchased shall be made in the same manner as
interest payments are made. Unless the Issuers default in making such payment,
any Note accepted for payment pursuant to the Asset Sale Offer shall cease to
accrue interest after the Purchase Date.

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

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

                  (a) that the Asset Sale Offer is being made pursuant to this
         Section 3.09 and Section 4.11 and the length of time the Asset Sale
         Offer shall remain open;

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

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

                  (d) that, unless the Issuers default in making such payment,
         any Note accepted for payment pursuant to the Asset Sale Offer shall
         cease to accrue interest after the Purchase Date;

                                     - 47 -
<PAGE>

                  (e) that Holders electing to have a Note purchased pursuant to
         an Asset Sale Offer or may elect to have Notes purchased in integral
         multiples of $1,000 only;

                  (f) that Holders electing to have a Note purchased pursuant to
         any Asset Sale Offer shall be required to surrender the Note, with the
         form entitled "Option of Holder to Elect Purchase" on the reverse of
         the Note completed, or transfer by book-entry transfer, to the Issuers,
         a depositary, if appointed by the Issuers, or a Paying Agent at the
         address specified in the notice at least three days before the Purchase
         Date;

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

                  (h) that, if the aggregate principal amount of Notes
         surrendered by Holders exceeds the Offer Amount, the Issuers shall
         select the Notes to be purchased on a pro rata basis (with such
         adjustments as may be deemed appropriate by the Issuers so that only
         Notes in denominations of $1,000, or integral multiples thereof, shall
         be purchased); and

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

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

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

                                     - 48 -
<PAGE>

                                    ARTICLE 4

                                    COVENANTS

Section 4.01. Payment of Notes.

         The Issuers shall pay or cause to be paid the principal, premium, if
any, and interest on the Notes on the dates and in the manner provided in the
Notes. Principal, premium, if any, and interest shall be considered paid on the
date due if the Paying Agent, if other than the Issuers or a Subsidiary thereof,
holds as of 10:00 a.m. New York City time on the due date money deposited by the
Issuers in immediately available funds and designated for and sufficient to pay
all principal, premium, if any, and interest then due. The Issuers shall pay all
Special Interest, if any, in the same manner on the dates and in the amounts set
forth in any Registration Rights Agreement.

         The Issuers shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue principal at the rate equal to
2% per annum in excess of the then applicable interest rate on the Notes to the
extent lawful; they shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest
(without regard to any applicable grace period) at the same rate to the extent
lawful.

Section 4.02. Maintenance of Office or Agency.

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

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

         The Issuers hereby designate Wells Fargo Bank, N.A., at Corporate Trust
Services, MAC N9303-120, Sixth and Marquette Avenue, Minneapolis, MN 55479, as
one such office or agency of the Issuers in accordance with Section 2.03.

                                     - 49 -
<PAGE>

Section 4.03. Reports.

         Whether or not required by the Commission, so long as any Notes are
outstanding, the Issuers shall furnish to the Holders of Notes and the Trustee,
within the time periods specified in the Commission's rules and regulations:

         (1) all quarterly and annual financial information that would be
required to be contained in a filing with the Commission on Forms 10-Q and 10-K
if the Issuers were required to file such forms, including a "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
section and, with respect to the annual information only, a report on the annual
consolidated financial statements of the Company by its independent public
accountants; and

         (2) all current reports that would be required to be filed with the
Commission on Form 8-K if the Issuers were required to file such reports.

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

         In addition, after the consummation of the Exchange Offer, whether or
not required by the Commission, the Issuers shall file a copy of all of the
information and reports referred to in clauses (1) and (2) above with the
Commission for public availability within the time periods specified in the
Commission's rules and regulations, unless the Commission will not accept such a
filing, and make such information available to securities analysts and
prospective investors upon request.

Section 4.04. Compliance Certificate.

                  (a) The Issuers shall deliver to the Trustee, within 90 days
         after the end of each fiscal year, an Officers' Certificate stating
         that a review of the activities of the Issuers and their Subsidiaries
         during the preceding fiscal year have been made under the supervision
         of the signing Officers with a view to determining whether the Issuers
         have kept, observed, performed and fulfilled their obligations under
         this Indenture, and further stating, as to each such Officer signing
         such certificate, that to the best of his or her knowledge the Issuers
         have kept, observed, performed and fulfilled each and every covenant
         contained in this Indenture and are not in default in the performance
         or observance of any of the terms, provisions and conditions of this
         Indenture (or, if a Default or Event of Default shall have occurred,
         describing all such Defaults or Events of Default of which he or she
         may have knowledge and what action the Issuers are taking or propose to
         take with respect thereto) and that to the best of his or her knowledge
         no event has occurred and remains in existence by reason of which
         payments on account of the principal of or interest, if any, on the

                                     - 50 -
<PAGE>

         Notes is prohibited or if such event has occurred, a description of the
         event and what action the Issuers are taking or propose to take with
         respect thereto.

                  (b) So long as not contrary to the then current
         recommendations of the American Institute of Certified Public
         Accountants, the year-end financial statements delivered pursuant to
         Section 4.03 above shall be accompanied by a written statement of the
         Company's independent public accountants (each of whom shall be a firm
         of established national reputation) that in making the examination
         necessary for certification of such financial statements, nothing has
         come to their attention that would lead them to believe that either of
         the Issuers has violated any provisions of Article 4 or Article 5 or,
         if any such violation has occurred, specifying the nature and period of
         existence thereof, it being understood that such accountants shall not
         be liable directly or indirectly to any Person for any failure to
         obtain knowledge of any such violation. In the event that, after the
         Issuers have used their reasonable best efforts to obtain the written
         statement of the Company's independent public accountants required by
         the provisions of this paragraph, such statement cannot be obtained,
         the Issuers shall deliver, in satisfaction of their obligations under
         this Section 4.04, an Officers' Certificate (i) certifying that they
         have used their reasonable best efforts to obtain such required
         statement but were unable to do so and (ii) attaching the written
         statement of the Company's accountants that the Company received in
         lieu thereof.

                  (c) The Issuers shall, so long as any of the Notes are
         outstanding, deliver to the Trustee, forthwith upon any Officer
         becoming aware of any Default or Event of Default, an Officers'
         Certificate specifying such Default or Event of Default and what action
         the Issuers are taking or propose to take with respect thereto.

Section 4.05. Taxes.

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

Section 4.06. Stay, Extension and Usury Laws.

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

                                     - 51 -
<PAGE>

Section 4.07. Restricted Payments.

         The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly:

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

                  (b) purchase, redeem or otherwise acquire or retire for value
         (including, without limitation, in connection with any merger or
         consolidation involving the Company or any of its Restricted
         Subsidiaries) any Equity Interests of the Company or any direct or
         indirect Parent of the Company or any Restricted Subsidiary of the
         Company (other than, in the case of the Company and its Restricted
         Subsidiaries, any such Equity Interests owned by the Company or any of
         its Restricted Subsidiaries); or

                  (c) make any payment on or with respect to, or purchase,
         redeem, defease or otherwise acquire or retire for value, any
         Indebtedness of the Company that is subordinated to the Notes, except a
         payment of interest or principal at the Stated Maturity thereof,

(all such payments and other actions set forth in clauses (a) through (c) above
being collectively referred to as "Restricted Payments"), unless, at the time of
and after giving effect to such Restricted Payment:

         (1) no Default or Event of Default shall have occurred and be
continuing or would occur as a consequence thereof; and

         (2) the Company would, at the time of such Restricted Payment and after
giving pro forma effect thereto as if such Restricted Payment had been made at
the beginning of the applicable quarter period, have been permitted to incur at
least $1.00 of additional Indebtedness pursuant to the Leverage Ratio test set
forth in the first paragraph of Section 4.10; and

         (3) such Restricted Payment, together with the aggregate amount of all
other Restricted Payments made by the Company and its Restricted Subsidiaries
from and after the Issue Date (excluding Restricted Payments permitted by
clauses (2), (3), (4), (5), (6), (7) and (8) of the next succeeding paragraph),
shall not exceed, at the date of determination, the sum of:

                  (a) an amount equal to 100% of the Consolidated EBITDA of the
         Company for the period beginning on the first day of the fiscal quarter
         commencing

                                     - 52 -
<PAGE>

         October 1, 2003 to the end of the Company's most recently ended full
         fiscal quarter for which internal financial statements are available,
         taken as a single accounting period, less the product of 1.3 times the
         Consolidated Interest Expense of the Company for such period, plus

                  (b) an amount equal to 100% of Capital Stock Sale Proceeds
         less any amount of such Capital Stock Sale Proceeds used in connection
         with an Investment made on or after the Issue Date pursuant to clause
         (5) of the definition of "Permitted Investments," plus

                  (c) $100 million.

         So long as no Default has occurred and is continuing or would be caused
thereby, the preceding provisions shall not prohibit:

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

         (2) the redemption, repurchase, retirement, defeasance or other
acquisition of any subordinated Indebtedness of the Company in exchange for, or
out of the net proceeds of, the substantially concurrent sale (other than to a
Subsidiary of the Company) of Equity Interests of the Company (other than
Disqualified Stock); provided that the amount of any such net cash proceeds that
are utilized for any such redemption, repurchase, retirement, defeasance or
other acquisition shall be excluded from clause (3) (b) of the preceding
paragraph;

         (3) the defeasance, redemption, repurchase or other acquisition of
subordinated Indebtedness of the Company or any of its Restricted Subsidiaries
with the net cash proceeds from an incurrence of Permitted Refinancing
Indebtedness;

         (4) regardless of whether a Default then exists, the payment of any
dividend or distribution to the extent necessary to permit direct or indirect
beneficial owners of shares of Capital Stock of the Company to pay federal,
state or local income tax liabilities that would arise solely from income of the
Company or any of its Restricted Subsidiaries, as the case may be, for the
relevant taxable period and attributable to them solely as a result of the
Company (and any intermediate entity through which the holder owns such shares)
or any of its Restricted Subsidiaries being a limited liability company,
partnership or similar entity for federal income tax purposes;

         (5) regardless of whether a Default then exists, the payment of any
dividend by a Restricted Subsidiary of the Company to the holders of its common
Equity Interests on a pro rata basis;

         (6) the payment of any dividend on the Helicon Preferred Stock or the
redemption, repurchase, retirement or other acquisition of the Helicon Preferred
Stock in an amount not in excess of its aggregate liquidation value;

                                     - 53 -
<PAGE>

         (7) the repurchase, redemption or other acquisition or retirement for
value, or the payment of any dividend or distribution to the extent necessary to
permit the repurchase, redemption or other acquisition or retirement for value,
of any Equity Interests of the Company or a Parent of the Company held by any
member of the Company's or such Parent's management pursuant to any management
equity subscription agreement or stock option agreement entered into in
accordance with the policies of the Company or any Parent; provided that the
aggregate price paid for all such repurchased, redeemed, acquired or retired
Equity Interests shall not exceed $10 million in any fiscal year of the Company;

         (8) payment of fees in connection with any acquisition, merger or
similar transaction in an amount that does not exceed an amount equal to 1.25%
of the transaction value of such acquisition, merger or similar transaction; and

         (9) additional Restricted Payments directly or indirectly to the
Company or any Parent (i) regardless of whether a Default (other than a Default
under Section 6.01(1), (2), (7) or (8)) exists, for the purpose of enabling
Charter Holdings, CCH II and/or any Charter Refinancing Subsidiary to pay
interest when due on Indebtedness under the Charter Holdings Indentures, the CCH
II Indentures and/or any Charter Refinancing Indebtedness, (ii) for the purpose
of enabling CCI and/or any Charter Refinancing Subsidiary to pay interest when
due on Indebtedness under the CCI Indentures and/or any Charter Refinancing
Indebtedness and (iii) so long as the Company would have been permitted, at the
time of such Restricted Payment and after giving pro forma effect thereto as if
such Restricted Payment had been made at the beginning of the applicable quarter
period, to incur at least $1.00 of additional Indebtedness pursuant to the
Leverage Ratio test set forth in the first paragraph of Section 4.10,
(A)consisting of dividends or distributions to the extent required to enable CCH
II, Charter Holdings, CCI, or any Charter Refinancing Subsidiary to defease,
redeem, repurchase, prepay, repay, discharge or otherwise acquire or retire for
value Indebtedness under the CCH II Indentures, the Charter Holdings Indentures,
the CCI Indentures or any Charter Refinancing Indebtedness (including any
expenses incurred by any Parent in connection therewith)or (B) consisting of
purchases, redemptions or other acquisitions by the Company or its Restricted
Subsidiaries of Indebtedness under the CCH II Indentures, the Charter Holdings
Indentures, the CCI Indentures or any Charter Refinancing Indebtedness
(including any expenses incurred by the Company and its Restricted Subsidiaries
in connection therewith) and the distribution, loan or investment to any Parent
of Indebtedness so purchased, redeemed or acquired.

         The amount of all Restricted Payments (other than cash) shall be the
fair market value on the date of the Restricted Payment of the asset(s) or
securities proposed to be transferred or issued by the Company or any of its
Restricted Subsidiaries pursuant to the Restricted Payment. The fair market
value of any assets or securities that are required to be valued by this
covenant shall be determined by the Board of Directors of the Company, whose
resolution with respect thereto shall be delivered to the Trustee. Such Board of
Directors' determination must be based upon an opinion or appraisal issued by an
accounting, appraisal or investment banking firm of national standing if the
fair market value exceeds $100 million.

         Not later than the date of making any Restricted Payment involving an
amount or fair market value in excess of $10 million, the Issuers shall deliver
to the Trustee an

                                     - 54 -
<PAGE>

Officers' Certificate stating that such Restricted Payment is permitted and
setting forth the basis upon which the calculations required by this Section
4.07 were computed, together with a copy of any fairness opinion or appraisal
required by this Indenture.

Section 4.08. Investments.

         The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly:

         (1) make any Restricted Investment; or

         (2) allow any of its Restricted Subsidiaries to become an Unrestricted
Subsidiary,

unless, in each case:

                  (a) no Default or Event of Default shall have occurred and be
         continuing or would occur as a consequence thereof; and

                  (b) the Company would, at the time of, and after giving effect
         to, such Restricted Investment or such designation of a Restricted
         Subsidiary as an Unrestricted Subsidiary, have been permitted to incur
         at least $1.00 of additional Indebtedness pursuant to the Leverage
         Ratio test set forth in the first paragraph of Section 4.10.

         An Unrestricted Subsidiary may be redesignated as a Restricted
Subsidiary if such redesignation would not cause a Default.

Section 4.09. Dividend and Other Payment Restrictions Affecting Subsidiaries.

         The Company shall not, directly or indirectly, create or permit to
exist or become effective any encumbrance or restriction on the ability of any
of its Restricted Subsidiaries to:

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

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

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

         However, the preceding restrictions shall not apply to encumbrances or
restrictions existing under or by reason of:

         (1) Existing Indebtedness as in effect on the Issue Date (including,
without limitation, Indebtedness under any of the Credit Facilities) and any
amendments,

                                     - 55 -
<PAGE>

modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings thereof, provided that such amendments,
modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings are no more restrictive, taken as a whole, with
respect to such dividend and other payment restrictions than those contained in
the most restrictive Existing Indebtedness, as in effect on the Issue Date;

         (2) this Indenture and the Notes;

         (3) applicable law;

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

         (5) customary non-assignment provisions in leases, franchise agreements
and other commercial agreements entered into in the ordinary course of business
and consistent with past practices;

         (6) purchase money obligations for property acquired in the ordinary
course of business that impose restrictions on the property so acquired of the
nature described in clause (3) of the preceding paragraph;

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

         (8) Permitted Refinancing Indebtedness; provided that the restrictions
contained in the agreements governing such Permitted Refinancing Indebtedness
are no more restrictive, taken as a whole, than those contained in the
agreements governing the Indebtedness being refinanced;

         (9) Liens securing Indebtedness or other obligations otherwise
permitted to be incurred under Section 4.14 that limit the right of the Company
or any of its Restricted Subsidiaries to dispose of the assets subject to such
Lien;

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

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

         (12) restrictions contained in the terms of Indebtedness permitted to
be incurred under Section 4.10; provided that such restrictions are no more
restrictive, taken as a whole,

                                     - 56 -
<PAGE>

than the terms contained in the most restrictive, together or individually of
the Credit Facilities as in effect on the Issue Date; and

         (13) restrictions that are not materially more restrictive, taken as a
whole, than customary provisions in comparable financings and that the
management of the Company determines, at the time of such financing, will not
materially impair the Issuers' ability to make payments as required under the
Notes.

Section 4.10. Incurrence of Indebtedness and Issuance of Preferred Stock.

         The Company shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee
or otherwise become directly or indirectly liable, contingently or otherwise,
with respect to (collectively, "incur") any Indebtedness (including Acquired
Debt) and the Company shall not issue any Disqualified Stock and shall not
permit any of its Restricted Subsidiaries to issue any shares of Disqualified
Stock or Preferred Stock, provided that the Company or any of its Restricted
Subsidiaries may incur Indebtedness, the Company may issue Disqualified Stock
and subject to the final paragraph of this covenant below, Restricted
Subsidiaries of the Company may incur Preferred Stock if the Leverage Ratio of
the Company and its Restricted Subsidiaries would have been not greater than 4.5
to 1.0 determined on a pro forma basis (including a pro forma application of the
net proceeds therefrom), as if the additional Indebtedness had been incurred, or
the Disqualified Stock or Preferred Stock had been issued, as the case may be,
at the beginning of the most recently ended fiscal quarter.

         So long as no Default shall have occurred and be continuing or would be
caused thereby, the first paragraph of this covenant shall not prohibit the
incurrence of any of the following items of Indebtedness (collectively,
"Permitted Debt"):

         (1) the incurrence by the Company and its Restricted Subsidiaries of
Indebtedness under the Credit Facilities; provided that the aggregate principal
amount of all Indebtedness of the Company and its Restricted Subsidiaries
outstanding under this clause (1) for all Credit Facilities of the Company and
its Restricted Subsidiaries after giving effect to such incurrence does not
exceed an amount equal to $9.75 billion less the aggregate amount of all Net
Proceeds from Asset Sales applied by the Company or any of its Restricted
Subsidiaries to repay Indebtedness under a Credit Facility pursuant to Section
4.11.

         (2) the incurrence by the Company and its Restricted Subsidiaries of
Existing Indebtedness (other than under the Credit Facilities);

         (3) the incurrence on the Issue Date by the Company and its Restricted
Subsidiaries of Indebtedness represented by the Notes (other than any Additional
Notes);

         (4) the incurrence by the Company or any of its Restricted Subsidiaries
of Indebtedness represented by Capital Lease Obligations, mortgage financings or
purchase money obligations, in each case, incurred for the purpose of financing
all or any part of the purchase price or cost of construction or improvement
(including, without limitation, the cost of design, development, construction,
acquisition, transportation, installation, improvement, and migration) of
Productive Assets of the Company or any of its Restricted

                                     - 57 -
<PAGE>

Subsidiaries, in an aggregate principal amount not to exceed $75 million at any
time outstanding pursuant to this clause (4);

         (5) the incurrence by the Company or any of its Restricted Subsidiaries
of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of
which are used to refund, refinance or replace, in whole or in part,
Indebtedness (other than intercompany Indebtedness) that was permitted by this
Indenture to be incurred under this clause (5), the first paragraph of this
covenant or clauses (2) or (3) of this paragraph;

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

                  (a) if the Company is the obligor on such Indebtedness, such
         Indebtedness must be expressly subordinated to the prior payment in
         full in cash of all Obligations with respect to the Notes; and

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

         (7) the incurrence by the Company or any of its Restricted Subsidiaries
of Hedging Obligations that are incurred for the purpose of fixing or hedging
interest rate risk with respect to any floating rate Indebtedness that is
permitted by the terms of this Indenture to be outstanding;

         (8) the guarantee by the Company or any of its Restricted Subsidiaries
of Indebtedness of a Restricted Subsidiary of the Company that was permitted to
be incurred by another provision of this Section 4.10;

         (9) the incurrence by the Company or any of its Restricted Subsidiaries
of additional Indebtedness in an aggregate principal amount at any time
outstanding under this clause (9), not to exceed $300 million; and

         (10) the accretion or amortization of original issue discount and the
write up of Indebtedness in accordance with purchase accounting.

         For purposes of determining compliance with this Section 4.10, any
Indebtedness under Credit Facilities outstanding on the Issue Date shall be
deemed to have been incurred pursuant to clause (1) above and, in the event that
an item of proposed Indebtedness (other than any Indebtedness initially deemed
on the Issue Date to be incurred under clause (1) above) (a) meets the criteria
of more than one of the categories of Permitted Debt described in clauses (1)
through (10) above or (b) is entitled to be incurred pursuant to the first
paragraph of this covenant, the Company shall be permitted to classify and from
time to time to reclassify such item of Indebtedness in any manner that complies
with this covenant. Once any item of Indebtedness is so reclassified, it shall
no longer be deemed outstanding

                                     - 58 -
<PAGE>

under the category of Permitted Debt, where initially incurred or previously
reclassified. For avoidance of doubt, Indebtedness incurred pursuant to a single
agreement, instrument, program, facility or line of credit may be classified as
Indebtedness arising in part under one of the clauses listed above or under the
first paragraph of this covenant, and in part under any one or more of the
clauses listed above, to the extent that such Indebtedness satisfies the
criteria for such classification.

         Notwithstanding the foregoing, in no event shall any Restricted
Subsidiary of the Company consummate a Subordinated Debt Financing or a
Preferred Stock Financing. A "Subordinated Debt Financing" or a "Preferred Stock
Financing," as the case may be, with respect to any Restricted Subsidiary of the
Company shall mean a public offering or private placement (whether pursuant to
Rule 144A under the Securities Act or otherwise) of Subordinated Notes or
Preferred Stock (whether or not such Preferred Stock constitutes Disqualified
Stock), as the case may be, of such Restricted Subsidiary to one or more
purchasers (other than to one or more Affiliates of the Company). "Subordinated
Notes" with respect to any Restricted Subsidiary of the Company shall mean
Indebtedness of such Restricted Subsidiary that is contractually subordinated in
right of payment to any other Indebtedness of such Restricted Subsidiary
(including, without limitation, Indebtedness under the Credit Facilities). The
foregoing limitation shall not apply to

                  (a) any Indebtedness or Preferred Stock of any Person existing
         at the time such Person is merged with or into or becomes a Subsidiary
         of the Company; provided that such Indebtedness or Preferred Stock was
         not incurred or issued in connection with, or in contemplation of, such
         Person merging with or into, or becoming a Subsidiary of, the Company,
         and

                  (b) any Indebtedness or Preferred Stock of a Restricted
         Subsidiary issued in connection with, and as part of the consideration
         for, an acquisition, whether by stock purchase, asset sale, merger or
         otherwise, in each case involving such Restricted Subsidiary, which
         Indebtedness or Preferred Stock is issued to the seller or sellers of
         such stock or assets; provided that such Restricted Subsidiary is not
         obligated to register such Indebtedness or Preferred Stock under the
         Securities Act or obligated to provide information pursuant to Rule
         144A under the Securities Act.

Section 4.11. Limitation on Asset Sales.

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

         (1) the Company or such Restricted Subsidiary receives consideration at
the time of such Asset Sale at least equal to the fair market value of the
assets or Equity Interests issued or sold or otherwise disposed of;

         (2) such fair market value is determined by the Board of Directors of
the Company and evidenced by a resolution of such Board of Directors set forth
in an Officers' Certificate delivered to the Trustee; and

                                     - 59 -
<PAGE>

         (3) at least 75% of the consideration therefor received by the Company
or such Restricted Subsidiary is in the form of cash, Cash Equivalents or
readily marketable securities.

         For purposes of this Section 4.11, each of the following shall be
deemed to be cash:

                  (a) any liabilities (as shown on the Company's or such
         Restricted Subsidiary's most recent balance sheet) of the Company or
         any Restricted Subsidiary thereof (other than contingent liabilities
         and liabilities that are by their terms subordinated to the Notes) that
         are assumed by the transferee of any such assets pursuant to a
         customary novation agreement that releases the Company or such
         Restricted Subsidiary from further liability;

                  (b) any securities, notes or other obligations received by the
         Company or any such Restricted Subsidiary from such transferee that are
         converted by the recipient thereof into cash, Cash Equivalents or
         readily marketable securities within 60 days after receipt thereof (to
         the extent of the cash, Cash Equivalents or readily marketable
         securities received in that conversion); and

                  (c) Productive Assets.

         Within 365 days after the receipt of any Net Proceeds from an Asset
Sale, the Company or a Restricted Subsidiary thereof may apply an amount equal
to such Net Proceeds at its option:

         (1) to repay debt under the Credit Facilities or any other Indebtedness
of the Restricted Subsidiaries of the Company (other than Indebtedness
represented solely by a guarantee of a Restricted Subsidiary of the Company); or

         (2) to invest in Productive Assets; provided that any such amount of
Net Proceeds which the Company or a Restricted Subsidiary thereof has committed
to invest in Productive Assets within 365 days of the applicable Asset Sale may
be invested in Productive Assets within two years of such Asset Sale.

         The amount of any Net Proceeds received from Asset Sales that are not
applied or invested as provided in the preceding paragraph shall constitute
"Excess Proceeds." When the aggregate amount of Excess Proceeds exceeds $25
million, the Company shall make an Asset Sale Offer to all Holders of Notes and
all holders of other Indebtedness that is of equal priority with the Notes
containing provisions requiring offers to purchase or redeem with the proceeds
of sales of assets to purchase the maximum principal amount of Notes and such
other Indebtedness of equal priority that may be purchased out of the Excess
Proceeds, which amount includes the entire amount of the Net Proceeds. The offer
price in any Asset Sale Offer shall be payable in cash and equal to 100% of the
principal amount of the subject Notes plus accrued and unpaid interest, if any,
to the date of purchase. If the aggregate principal amount of Notes and such
other Indebtedness of equal priority tendered into such Asset Sale Offer exceeds
the amount of Excess Proceeds, the Trustee shall select the Notes and such other
Indebtedness of equal priority to be purchased on a pro rata basis.

                                     - 60 -
<PAGE>

         If any Excess Proceeds remain after consummation of an Asset Sale
Offer, then the Company or any Restricted Subsidiary thereof may use such
remaining Excess Proceeds for any purpose not otherwise prohibited by this
Indenture. Upon completion of any Asset Sale Offer, the amount of Excess
Proceeds shall be reset at zero.

         In the event that the Company shall be required to commence an offer to
Holders to purchase Notes pursuant to this Section 4.11, it shall follow the
procedures specified in Sections 3.01 through 3.09.

Section 4.12. Sale and Leaseback Transactions.

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

         (1) the Company or such Restricted Subsidiary could have

                  (a) incurred Indebtedness in an amount equal to the
         Attributable Debt relating to such sale and leaseback transaction under
         the Leverage Ratio test in the first paragraph of Section 4.10 and

                  (b) incurred a Lien to secure such Indebtedness pursuant to
         Section 4.14 or the definition of Permitted Liens; and

         (2) the transfer of assets in that sale and leaseback transaction is
permitted by, and the Company or such Restricted Subsidiary applies the proceeds
of such transaction in compliance with, Section 4.11.

         The foregoing restrictions shall not apply to a sale and leaseback
transaction if the lease is for a period, including renewal rights, of not in
excess of three years.

Section 4.13. Transactions with Affiliates.

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

         (1) such Affiliate Transaction is on terms that are no less favorable
to the Company or the relevant Restricted Subsidiary than those that would have
been obtained in a comparable transaction by the Company or such Restricted
Subsidiary with an unrelated Person; and

         (2) the Company delivers to the Trustee:

                  (a) with respect to any Affiliate Transaction or series of
         related Affiliate Transactions involving aggregate consideration given
         or received by the Company or any such Restricted Subsidiary in excess
         of $15 million, a resolution of the Board of

                                     - 61 -
<PAGE>

         Directors of the Company or CCI set forth in an Officers' Certificate
         certifying that such Affiliate Transaction complies with this Section
         4.13 and that such Affiliate Transaction has been approved by a
         majority of the members of such Board of Directors; and

                  (b) with respect to any Affiliate Transaction or series of
         related Affiliate Transactions involving aggregate consideration given
         or received by the Company or any Restricted Subsidiary in excess of
         $50 million, an opinion as to the fairness to the Holders of such
         Affiliate Transaction from a financial point of view issued by an
         accounting, appraisal or investment banking firm of national standing.

         The following items shall not be deemed to be Affiliate Transactions
and, therefore, shall not be subject to the provisions of the prior paragraph:

         (1) any existing employment agreement entered into by the Company or
any of its Subsidiaries and any employment agreement entered into by the Company
or any of its Restricted Subsidiaries in the ordinary course of business and
consistent with the past practice of the Company or any Parent or such
Restricted Subsidiary;

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

         (3) payment of reasonable directors fees to Persons who are not
otherwise Affiliates of the Company and customary indemnification and insurance
arrangements in favor of directors, regardless of affiliation with the Company
or any of its Restricted Subsidiaries;

         (4) payment of Management Fees;

         (5) Restricted Payments that are permitted by Section 4.07 and
Restricted Investments that are permitted by Section 4.08;

         (6) Permitted Investments; and

         (7) transactions pursuant to agreements existing on the Issue Date, as
in effect on the Issue Date, or as subsequently modified, supplemented, or
amended, to the extent that any such modifications, supplements or amendments
complied with the applicable provisions of the first paragraph of this Section
4.13.

Section 4.14. Liens.

         The Company shall not, directly or indirectly, create, incur, assume or
suffer to exist any Lien of any kind securing Indebtedness, Attributable Debt or
trade payables on any asset of the Company, whether owned on the Issue Date or
thereafter acquired, except Permitted Liens.

                                     - 62 -
<PAGE>

Section 4.15. Existence.

         Subject to Article 5, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect (i) its limited
liability company existence, and the corporate, partnership or other existence
of each of its Subsidiaries, in accordance with the respective organizational
documents (as the same may be amended from time to time) of the Company or any
such Subsidiary and (ii) the rights (charter and statutory), licenses and
franchises of the Company and its Subsidiaries; provided, however, that the
Company shall not be required to preserve any such right, license or franchise,
or the corporate, partnership or other existence of any of its Subsidiaries
(other than Capital Corp), if the Board of Directors of the Company shall
determine that the preservation thereof is no longer desirable in the conduct of
the business of the Company and its Subsidiaries, taken as a whole, and that the
loss thereof is not adverse in any material respect to the Holders of the Notes.

Section 4.16. Repurchase at the Option of Holders upon a Change of Control.

         If a Change of Control occurs, each Holder of Notes shall have the
right to require the Issuers to repurchase all or any part (equal to $1,000 or
an integral multiple thereof) of that Holder's Notes pursuant to a "Change of
Control Offer." In the Change of Control Offer, the Issuers shall offer a
"Change of Control Payment" in cash equal to 101% of the aggregate principal
amount of Notes repurchased plus accrued and unpaid interest thereon, if any, to
the date of purchase.

         Within ten days following any Change of Control, the Issuers shall mail
a notice to each Holder (with a copy to the Trustee) describing the transaction
or transactions that constitute the Change of Control and stating:

         (1) the purchase price and the purchase date, which shall not exceed 30
Business Days from the date such notice is mailed (the "Change of Control
Payment Date");

         (2) that any Note not tendered shall continue to accrue interest;

         (3) that, unless the Issuers default in the payment of the Change of
Control Payment, all Notes accepted for payment pursuant to the Change of
Control Offer shall cease to accrue interest after the Change of Control Payment
Date;

         (4) that Holders electing to have any Notes purchased pursuant to a
Change of Control Offer shall be required to surrender the Notes, with the form
entitled "Option of Holder to Elect Purchase" on the reverse of the Notes
completed, to the Paying Agent at the address specified in the notice prior to
the close of business on the third Business Day preceding the Change of Control
Payment Date;

         (5) that Holders shall be entitled to withdraw their election if the
Paying Agent receives, not later than the close of business on the second
Business Day preceding the Change of Control Payment Date, a telegram, telex,
facsimile transmission or letter setting forth the name of the Holder, the
principal amount of Notes delivered for purchase, and a statement that such
Holder is withdrawing his election to have the Notes purchased; and

                                     - 63 -
<PAGE>

         (6) that Holders whose Notes are being purchased only in part shall be
issued new Notes equal in principal amount to the unpurchased portion of the
Notes surrendered, which unpurchased portion must be equal to $1,000 in
principal amount or an integral multiple thereof.

         The Issuers shall comply with the requirements of Rule 14e-1 under the
Exchange Act (or any successor rules) and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in
connection with the repurchase of the Notes as a result of a Change of Control.
To the extent that the provisions of any securities laws or regulations conflict
with the provisions of this Section 4.16, the Issuers' compliance with such laws
and regulations shall not in and of itself cause a breach of their obligations
under this Section 4.16.

         On the Change of Control Payment Date, the Issuers shall, to the extent
lawful:

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

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

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

         The Paying Agent shall promptly pay to each Holder of Notes so tendered
the Change of Control Payment for such Notes, and the Trustee shall promptly
authenticate and mail (or cause to be transferred by book entry) to each Holder
a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided that each such new Note shall be in a principal
amount of $1,000 or an integral multiple thereof. The Issuers shall publicly
announce the results of the Change of Control Offer on or as soon as practicable
after the Change of Control Payment Date.

         The provisions described above that require the Issuers to make a
Change of Control Offer following a Change of Control shall be applicable
regardless of whether or not any other provisions in this Indenture are
applicable. Except as described above with respect to a Change of Control, this
Indenture does not contain provisions that permit the Holders of the Notes to
require that the Issuers repurchase or redeem the Notes in the event of a
takeover, recapitalization or similar transaction.

         Notwithstanding any other provision of this Section 4.16, the Issuers
shall not be required to make a Change of Control Offer upon a Change of Control
if a third party makes the Change of Control Offer in the manner, at the times
and otherwise in compliance with the requirements set forth in this Indenture
applicable to a Change of Control Offer made by the Issuers and purchases all
Notes validly tendered and not withdrawn under such Change of Control Offer.

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Section 4.17. Limitations on Issuances of Guarantees of Indebtedness.

         The Company shall not permit any of its Restricted Subsidiaries,
directly or indirectly, to Guarantee or pledge any assets to secure the payment
of any other Indebtedness of the Company except in respect of the Credit
Facilities (the "Guaranteed Indebtedness") unless:

         (1) such Restricted Subsidiary simultaneously executes and delivers a
supplemental indenture providing for the Guarantee (a "Subsidiary Guarantee") of
the payment of the Notes by such Restricted Subsidiary and

         (2) until one year after all the Notes have been paid in full in cash,
such Restricted Subsidiary waives and will not in any manner whatsoever claim or
take the benefit or advantage of, any rights of reimbursement, indemnity or
subrogation or any other rights against the Company or any other Restricted
Subsidiary thereof as a result of any payment by such Restricted Subsidiary
under its Subsidiary Guarantee; provided that this paragraph shall not be
applicable to any Guarantee or any Restricted Subsidiary that existed at the
time such Person became a Restricted Subsidiary and was not incurred in
connection with, or in contemplation of, such Person becoming a Restricted
Subsidiary.

         If the Guaranteed Indebtedness is subordinated to the Notes, then the
Guarantee of such Guaranteed Indebtedness shall be subordinated to the
Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is
subordinated to the Notes.

Section 4.18. Payments for Consent.

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

Section 4.19. Application of Fall-Away Covenants.

         During any period of time that (a) the Notes have Investment Grade
Ratings from both Rating Agencies and (b) no Default or Event of Default has
occurred and is continuing, the Company and its Restricted Subsidiaries shall
not be subject to the provisions of Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.12,
4.13 and clause (D) of the first paragraph of Section 5.01 (collectively, the
"Suspended Covenants").

         If the Company and its Restricted Subsidiaries are not subject to the
Suspended Covenants for any period of time as a result of the previous sentence
and, subsequently, one, or both of the Rating Agencies withdraws its ratings or
downgrades the ratings assigned to the Notes below the required Investment Grade
Ratings or a Default or Event of Default occurs and is continuing, then the
Company and its Restricted Subsidiaries shall thereafter again be subject to the
Suspended Covenants. The ability of the Company and its Restricted Subsidiaries
to make Restricted Payments after the time of such withdrawal, downgrade,
Default or Event of Default shall be calculated in accordance with the terms of
Section 4.07

                                     - 65 -
<PAGE>

as though such covenant had been in effect during the entire period of time from
the Issue Date.

                                    ARTICLE 5

                                   SUCCESSORS

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

         Neither of the Issuers may, directly or indirectly: (1) consolidate or
merge with or into another Person or (2) sell, assign, transfer, convey or
otherwise dispose of all or substantially all of its properties or assets, in
one or more related transactions, to another Person; unless:

         (A) either:

                  (i) such Issuer is the surviving Person; or

                  (ii) the Person formed by or surviving any such consolidation
or merger (if other than such Issuer) or to which such sale, assignment,
transfer, conveyance or other disposition shall have been made is a Person
organized or existing under the laws of the United States, any state thereof or
the District of Columbia, provided that if the Person formed by or surviving any
such consolidation or merger with such Issuer is a limited liability company or
a Person other than a corporation, a corporate co-issuer shall also be an
obligor with respect to the Notes;

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

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

         (D) such Issuer or the Person formed by or surviving any such
consolidation or merger (if other than such Issuer) will, on the date of such
transaction after giving pro forma effect thereto and any related financing
transactions as if the same had occurred at the beginning of the applicable
period,

                  (x) be permitted to incur at least $1.00 of additional
         Indebtedness pursuant to the Leverage Ratio test set forth in the first
         paragraph of Section 4.10; or

                  (y) have a Leverage Ratio immediately after giving effect to
         such consolidation or merger no greater than the Leverage Ratio
         immediately prior to such consolidation or merger.

         In addition, CCO Holdings may, directly or indirectly, lease all or
substantially all of its properties or assets, in one or more related
transactions, to any other Person. The foregoing clause (D) shall not apply to a
sale, assignment, transfer, conveyance or other

                                     - 66 -
<PAGE>

disposition of assets between or among CCO Holdings and any of its Wholly Owned
Restricted Subsidiaries.

Section 5.02. Successor Corporation Substituted.

         Upon any consolidation or merger, or any sale, assignment, transfer,
lease, conveyance or other disposition of all or substantially all of the assets
of either Issuer in accordance with Section 5.01, the successor Person formed by
such consolidation or into which either Issuer is merged or to which such
transfer is made shall succeed to and (except in the case of a lease) be
substituted for, and may exercise every right and power of, such Issuer under
this Indenture with the same effect as if such successor Person had been named
therein as such Issuer, and (except in the case of a lease) such Issuer shall be
released from the obligations under the Notes and this Indenture, except with
respect to any obligations that arise from, or are related to, such transaction.

                                    ARTICLE 6

                              DEFAULTS AND REMEDIES

Section 6.01. Events of Default.

         Each of the following is an "Event of Default" with respect to the
Notes:

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

         (2) default in payment when due of the principal of or premium, if any,
on the Notes;

         (3) failure by the Company or any of its Restricted Subsidiaries to
comply with the provisions of Sections 4.16 or 5.01;

         (4) failure by the Company or any of its Restricted Subsidiaries for 30
consecutive days after written notice thereof has been given to the Issuers by
the Trustee or to the Issuers and the Trustee by Holders of at least 25% of the
aggregate principal amount of the Notes outstanding to comply with any of their
other covenants or agreements in this Indenture;

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

                  (a) is caused by a failure to pay at final stated maturity the
         principal amount on such Indebtedness prior to the expiration of the
         grace period provided in such Indebtedness on the date of such default
         (a "Payment Default"); or

                                     - 67 -
<PAGE>

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

and, in each case, the principal amount of any such Indebtedness, together with
the principal amount of any other such Indebtedness under which there has been a
Payment Default or the maturity of which has been so accelerated, aggregates
$100 million or more;

         (6) failure by the Company or any of its Restricted Subsidiaries to pay
final judgments which are non-appealable aggregating in excess of $100 million,
net of applicable insurance which has not been denied in writing by the insurer,
which judgments are not paid, discharged or stayed for a period of 60 days; and

         (7) the Company or any of its Significant Subsidiaries pursuant to or
within the meaning of Bankruptcy Law:

                  (a) commences a voluntary case,

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

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

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

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

                  (a) is for relief against the Company or any of its
         Significant Subsidiaries in an involuntary case;

                  (b) appoints a custodian of the Company or any of its
         Significant Subsidiaries or for all or substantially all of the
         property of the Company or any of its Significant Subsidiaries; or

                  (c) orders the liquidation of the Company or any of its
         Significant Subsidiaries;

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

Section 6.02. Acceleration.

         In the case of an Event of Default arising from clause (7) or (8) of
Section 6.01 with respect to the Company, all outstanding Notes shall become due
and payable immediately without further action or notice. If any other Event of
Default occurs and is continuing, the Trustee by notice to the Issuers or the
Holders of at least 25% in principal amount of the then outstanding Notes by
notice to the Issuers and the Trustee may declare all the Notes to be due and
payable immediately. The Holders of a majority in aggregate principal amount of
the Notes then outstanding by written notice to the Trustee may on behalf of all
of the

                                     - 68 -
<PAGE>

Holders rescind an acceleration and its consequences if the rescission would not
conflict with any judgment or decree and if all existing Events of Default
(except nonpayment of principal, interest or premium that has become due solely
because of the acceleration) have been cured or waived.

Section 6.03. Other Remedies.

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

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

Section 6.04. Waiver of Existing Defaults.

         Holders of not less than a majority in aggregate principal amount of
the then outstanding Notes by notice to the Trustee may on behalf of the Holders
of all of the Notes waive an existing Default or Event of Default and its
consequences hereunder, except a continuing Default or Event of Default in the
payment of the principal of, premium, if any, or interest on, the Notes
(including in connection with an offer to purchase) (provided, however, that the
Holders of a majority in aggregate principal amount of the then outstanding
Notes may rescind an acceleration and its consequences, including any related
payment default that resulted from such acceleration). Upon any such waiver,
such Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

Section 6.05. Control by Majority.

         Holders of a majority in principal amount of the then outstanding Notes
may direct the time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee or exercising any trust or power
conferred on it. However, the Trustee may refuse to follow any direction that
conflicts with law or this Indenture that the Trustee determines may be
prejudicial to the rights of other Holders of Notes or that may involve the
Trustee in personal liability. The Trustee may take any other action which it
deems proper that is not inconsistent with any such directive.

Section 6.06. Limitation on Suits.

         A Holder of a Note may pursue a remedy with respect to this Indenture
or the Notes only if:

                  (a) the Holder of a Note gives to the Trustee written notice
         of a continuing Event of Default;

                                     - 69 -
<PAGE>

                  (b) the Holders of at least 25% in principal amount of the
         then outstanding Notes make a written request to the Trustee to pursue
         the remedy;

                  (c) such Holder of a Note or Holders of Notes offer and, if
         requested, provide to the Trustee indemnity satisfactory to the Trustee
         against any loss, liability or expense;

                  (d) the Trustee does not comply with the request within 60
         days after receipt of the request and the offer and, if requested, the
         provision of indemnity; and

                  (e) during such 60-day period the Holders of a majority in
         principal amount of the then outstanding Notes do not give the Trustee
         a direction inconsistent with the request.

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

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

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

Section 6.08. Collection Suit by Trustee.

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

Section 6.09. Trustee May File Proofs of Claim.

         The Trustee is authorized to file such proofs of claim and other papers
or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and the
Holders of the Notes allowed in any judicial proceedings relative to the Issuers
(or any other obligor upon the Notes), their creditors or their property and
shall be entitled and empowered to collect, receive and distribute any money or
other property payable or deliverable on any such claims and any custodian in
any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any
amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.07. To the extent that the payment

                                     - 70 -
<PAGE>

of any such compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section 7.07
out of the estate in any such proceeding, shall be denied for any reason,
payment of the same shall be secured by a Lien on, and shall be paid out of, any
and all distributions, dividends, money, securities and other properties that
the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein
contained shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

Section 6.10. Priorities.

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

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

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

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

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

Section 6.11. Undertaking for Costs.

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

                                     - 71 -
<PAGE>

                                    ARTICLE 7

                                     TRUSTEE

Section 7.01. Duties of Trustee.

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

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

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

                  (b) 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 required to be furnished to the Trustee hereunder and
         conforming to the requirements of this Indenture. However, the Trustee
         shall examine the certificates and opinions to determine whether or not
         they conform to the requirements of this Indenture (but need not
         confirm or investigate the accuracy of any mathematical calculations or
         other facts stated therein).

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

                  (a) this paragraph does not limit the effect of paragraph (2)
         of this Section;

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

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

         (4) Whether or not therein expressly so provided, every provision of
this Indenture that in any way relates to the Trustee is subject to paragraphs
(1), (2), and (3) of this Section 7.01.

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

                                     - 72 -
<PAGE>

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

         (7) 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 or
other paper or documents.

Section 7.02. Rights of Trustee.

         (1) The Trustee may conclusively rely upon any document (whether in its
original or facsimile form) believed by it to be genuine and to have been signed
or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

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

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

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

         (5) Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from either of the Issuers shall be
sufficient if signed by an Officer of such Issuer.

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

         (7) The Trustee shall not be charged with knowledge of any Default or
Event of Default unless either (a) a Responsible Officer of the Trustee shall
have actual knowledge of such Default or Event of Default or (b) written notice
of such Default or Event of Default shall have been given to and received by a
Responsible Officer of the Trustee by the Issuers or any Holder.

                                     - 73 -
<PAGE>

Section 7.03. Individual Rights of Trustee.

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

Section 7.04. Trustee's Disclaimer.

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

Section 7.05. Notice of Defaults.

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

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

         By May 15th of each year, and for so long as Notes remain outstanding,
the Trustee shall mail to the Holders of the Notes a brief report dated as of
such reporting date that complies with TIA ss. 313(a) (but if no event described
in TIA ss. 313(a) has occurred within the twelve months preceding the reporting
date, no report need be transmitted). The Trustee also shall comply with TIA ss.
313(b)(2). The Trustee shall also transmit by mail all reports as required by
TIA ss. 313(c).

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

Section 7.07. Compensation and Indemnity.

         The Issuers shall pay to the Trustee from time to time reasonable
compensation for its acceptance of this Indenture and services hereunder. The
Trustee's compensation shall not be limited by any law on compensation of a
trustee of an express trust. The Issuers shall

                                     - 74 -
<PAGE>

reimburse the Trustee promptly upon request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation for
its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee's agents and counsel.

         The Issuers shall, jointly and severally, indemnify the Trustee against
any and all losses, liabilities, claims, damages or expenses (including
reasonable legal fees and expenses) incurred by it arising out of or in
connection with the acceptance or administration of its duties under this
Indenture, including the costs and expenses of enforcing this Indenture against
the Issuers (including this Section 7.07) and defending itself against any claim
(whether asserted by the Issuers or any Holder or any other person) or liability
in connection with the exercise or performance of any of its powers or duties
hereunder, except to the extent any such loss, liability or expense may be
attributable to its gross negligence or willful misconduct. The Trustee shall
notify the Issuers promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of
their obligations hereunder. The Issuers shall defend the claim and the Trustee
shall cooperate in the defense. The Trustee may have separate counsel and the
Issuers shall pay the reasonable fees and expenses of such counsel. The Issuers
need not pay for any settlement made without their consent, which consent shall
not be unreasonably withheld.

         The obligations of the Issuers this Section 7.07 shall survive
resignation or removal of the Trustee and the satisfaction and discharge of this
Indenture.

         To secure the Issuers' payment obligations in this Section, the Trustee
shall have a Lien prior to the Notes on all money or property held or collected
by the Trustee, except that held in trust to pay principal and interest on
particular Notes. Such Lien shall survive the resignation or removal of the
Trustee and the satisfaction and discharge of this Indenture.

         When the Trustee incurs expenses or renders services after an Event of
Default specified in Section 6.01(7) or (8) occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents and
counsel) are intended to constitute expenses of administration under any
Bankruptcy Law.

         The Trustee shall comply with the provisions of TIA ss. 313(b)(2) to
the extent applicable.

Section 7.08. Replacement of Trustee.

         A resignation or removal of the Trustee and appointment of a successor
Trustee shall become effective only upon the successor Trustee's acceptance of
appointment as provided in this Section.

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

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

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

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

                  (d) the Trustee becomes incapable of acting.

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

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

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

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

Section 7.09. Successor Trustee by Merger, etc.

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

Section 7.10. Eligibility; Disqualification.

         There shall at all times be a Trustee hereunder that is a corporation
organized and doing business under the laws of the United States of America or
of any state thereof that is authorized under such laws to exercise corporate
trustee power, that is subject to supervision or examination by federal or state
authorities and that has a combined capital and surplus of at least $100 million
as set forth in its most recent published annual report of condition.

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

Section 7.11. Preferential Collection of Claims Against the Issuers.

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

                                    ARTICLE 8

                    LEGAL DEFEASANCE AND COVENANT DEFEASANCE

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

         The Issuers may, at the option of their respective boards of directors
or the Board of Directors of CCI evidenced by a resolution set forth in an
Officers' Certificate of each of the Issuers, at any time, elect to have either
Section 8.02 or 8.03 be applied to all outstanding Notes upon compliance with
the conditions set forth below in this Article 8.

Section 8.02. Legal Defeasance and Discharge.

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

                  (a) the rights of Holders of outstanding Notes to receive
         payments in respect of the principal of, premium, if any, and interest
         on such Notes when such payments are due from the trust referred to
         below;

                  (b) the Issuers' obligations with respect to the Notes
         concerning issuing temporary Notes, registration of Notes, mutilated,
         destroyed, lost or stolen Notes and the maintenance of an office or
         agency for payment and money for security payments held in trust;

                  (c) the rights, powers, trusts, duties and immunities of the
         Trustee and the Issuers' obligations in connection therewith; and

                  (d) the Legal Defeasance provisions of this Indenture.

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<PAGE>

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

Section 8.03. Covenant Defeasance.

         Upon the Issuers' exercise under Section 8.01 of the option applicable
to this Section 8.03, the Issuers shall, subject to the satisfaction of the
conditions set forth in Section 8.04, be released from their obligations under
the covenants contained in Article 5 and Sections 4.03, 4.07, 4.08, 4.09, 4.10,
4.11, 4.12, 4.13, 4.14, 4.16, 4.17 and 4.19 with respect to the outstanding
Notes on and after the date the conditions set forth in Section 8.04 are
satisfied (hereinafter, "Covenant Defeasance"), and the Notes shall thereafter
be deemed not "outstanding" for the purposes of any direction, waiver, consent
or declaration or act of Holders (and the consequences of any thereof) in
connection with such covenants, but shall continue to be deemed "outstanding"
for all other purposes hereunder (it being understood that such Notes shall not
be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes, the Issuers may
omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such covenant or
by reason of any reference in any such covenant to any other provision herein or
in any other document and such omission to comply shall not constitute a Default
or an Event of Default under Section 6.01, but, except as specified above, the
remainder of this Indenture and such Notes shall be unaffected thereby. In
addition, upon the Issuers' exercise under Section 8.01 of the option applicable
to this Section 8.03, subject to the satisfaction of the conditions set forth in
Section 8.04, Sections 6.01(3) through 6.01(6) shall not constitute Events of
Default.

Section 8.04. Conditions to Legal or Covenant Defeasance.

         The following shall be the conditions to the application of either
Section 8.02 or 8.03 to the outstanding Notes:

         In order to exercise either Legal Defeasance or Covenant Defeasance:

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

         (2) in the case of Legal Defeasance, the Issuers shall have delivered
to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that

                  (a) the Issuers have received from, or there has been
         published by, the Internal Revenue Service a ruling or

                  (b) since the Issue Date, there has been a change in the
         applicable federal income tax law,

                                     - 78 -
<PAGE>

in either case to the effect that, and based thereon such Opinion of Counsel
shall confirm that, the Holders of the outstanding Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such Legal
Defeasance and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such Legal
Defeasance had not occurred;

         (3) in the case of Covenant Defeasance, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the
Trustee confirming that the Holders of the outstanding Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such
Covenant Defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if
such Covenant Defeasance had not occurred;

         (4) no Default or Event of Default shall have occurred and be
continuing either:

                  (a) on the date of such deposit (other than a Default or Event
         of Default resulting from the borrowing of funds to be applied to such
         deposit); or

                  (b) insofar as Events of Default from bankruptcy or insolvency
         events are concerned, at any time in the period ending on the 91st day
         after the date of deposit;

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

         (6) the Issuers must have delivered to the Trustee an Opinion of
Counsel to the effect that after the 91st day, assuming no intervening
bankruptcy, that no Holder is an insider of either of the Issuers following the
deposit and that such deposit would not be deemed by a court of competent
jurisdiction a transfer for the benefit of either Issuer in its capacity as
such, the trust funds will not be subject to the effect of any applicable
bankruptcy, insolvency, reorganization or similar laws affecting creditors'
rights generally;

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

         (8) the Issuers must deliver to the Trustee an Officers' Certificate
and an Opinion of Counsel, each stating that all conditions precedent relating
to the Legal Defeasance or the Covenant Defeasance have been complied with.

         Notwithstanding the foregoing, the Opinion of Counsel required by
clause (2) above with respect to a Legal Defeasance need not be delivered if all
Notes not theretofore delivered to the Trustee for cancellation

                  (a) have become due and payable or

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<PAGE>

                  (b) will become due and payable on the maturity date within
         one year, by their terms or under arrangements satisfactory to the
         Trustee for the giving of notice of redemption by the Trustee in the
         name, and at the expense, of the Issuers.

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

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

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

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

Section 8.06. Repayment to Issuers.

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

                                     - 80 -
<PAGE>

Section 8.07. Reinstatement.

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

                                    ARTICLE 9

                        AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01. Without Consent of Holders of Notes.

         Notwithstanding Section 9.02 of this Indenture, the Issuers and the
Trustee may amend or supplement this Indenture or the Notes without the consent
of any Holder of a Note:

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

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

         (3) to provide for or confirm the issuance of Additional Notes;

         (4) to provide for the assumption of either Issuer's obligations to
Holders of Notes in the case of a merger or consolidation or sale of all or
substantially all of the assets of such Issuer pursuant to Article 5;

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

         (6) to comply with requirements of the SEC in order to effect or
maintain the qualification of this Indenture under the TIA or otherwise as
necessary to comply with applicable law.

         Upon the request of the Issuers accompanied by a resolution of their
respective boards of directors or the Board of Directors of CCI authorizing the
execution of any such amended or supplemental Indenture, and upon receipt by the
Trustee of the documents described in Section 7.02, the Trustee shall join with
the Issuers in the execution of any amended or supplemental Indenture authorized
or permitted by the terms of this Indenture and to make any further appropriate
agreements and stipulations that may be therein

                                     - 81 -
<PAGE>

contained, but the Trustee shall not be obligated to enter into such amended or
supplemental Indenture that affects its own rights, duties or immunities under
this Indenture or otherwise.

Section 9.02. With Consent of Holders of Notes.

         Except as provided below in this Section 9.02, this Indenture
(including Sections 4.11 and 4.16) or the Notes may be amended or supplemented
with the consent of the Holders of at least a majority in aggregate principal
amount of the Notes then outstanding (including, without limitation, consents
obtained in connection with a purchase of, or a tender offer or exchange offer
for, Notes) and, subject to Sections 6.04 and 6.07, any existing Default or
compliance with any provision of this Indenture or the Notes may be waived with
the consent of the Holders of a majority in aggregate principal amount of the
Notes then outstanding (including, without limitation, consents obtained in
connection with a purchase of, or a tender offer or exchange offer for, Notes).
Section 2.08 shall determine which Notes are considered to be "outstanding" for
purposes of this Section 9.02.

         Upon the request of the Issuers accompanied by a resolution of their
respective boards of directors or the Board of Directors of CCI authorizing the
execution of any such amended or supplemental Indenture, and upon the filing
with the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents
described in Section 10.04, the Trustee shall join with the Issuers in the
execution of such amended or supplemental Indenture unless such amended or
supplemental Indenture directly affects the Trustee's own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion, but shall not be obligated to, enter into such amended or
supplemental Indenture.

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

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

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

         (2) reduce the principal of or change the fixed maturity of any Note or
alter the payment provisions with respect to the redemption of the Notes (other
than provisions relating to Sections 4.11 and 4.16);

         (3) reduce the rate of or extend the time for payment of interest on
any Note;

                                     - 82 -
<PAGE>

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

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

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

         (7) waive a redemption payment with respect to any Note (other than a
payment required by Section 4.11 or 4.16); or

         (8) make any change in this Section 9.02.

Section 9.03. Compliance with Trust Indenture Act.

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

Section 9.04. Revocation and Effect of Consents.

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

Section 9.05. Notation on or Exchange of Notes.

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

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

Section 9.06. Trustee to Sign Amendments, etc.

         The Trustee shall sign any amended or supplemental Indenture authorized
pursuant to this Article 9 if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee. The Issuers
may not sign an amendment or supplemental Indenture until their respective
Boards of Directors approve it. In executing any amended or supplemental
indenture, the Trustee shall be entitled to receive and (subject

                                     - 83 -
<PAGE>

to Section 7.01) shall be fully protected in relying upon, in addition to the
documents required by Section 10.04, an Officer's Certificate and an Opinion of
Counsel, in each case from each of the Issuers, stating that the execution of
such amended or supplemental indenture is authorized or permitted by this
Indenture.

                                   ARTICLE 10

                                  MISCELLANEOUS

Section 10.01. Trust Indenture Act Controls.

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

Section 10.02. Notices.

         Any notice or communication by the Issuers or the Trustee to the others
is duly given if in writing and delivered in Person or mailed by first class
mail (registered or certified, return receipt requested), telex, telecopier or
overnight air courier guaranteeing next day delivery, to the others' address:

         If to the Issuers:

         CCO Holdings, LLC
         CCO Holdings Capital Corp.
         c/o Charter Communications, Inc.
         12405 Powerscourt Drive, Suite 100
         St. Louis, Missouri 63131
         Telecopier No.: (314) 965-8793
         Attention: Secretary

         With a copy to:

         Irell & Manella LLP
         1800 Avenue of the Stars
         Suite 900
         Los Angeles, California 90067
         Telecopier No.: (310) 556-5393
         Attention: Meredith Jackson, Esq.

         If to the Trustee:

         Wells Fargo Bank, N.A.
         Corporate Trust Services
         MAC N9303-120
         Sixth and Marquette Avenue
         Minneapolis, MN 55479
         Telecopier No.: 612-667-9825
         Attention: Timothy P. Mowdy

                                     - 84 -
<PAGE>

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

         All notices and communications (other than those sent to Holders) shall
be deemed to have been duly given: at the time delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when answered back, if telexed; when receipt acknowledged,
if telecopied; and the next Business Day after timely delivery to the courier,
if sent by overnight air courier guaranteeing next day delivery.

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

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

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

Section 10.03. Communication by Holders of Notes with Other Holders of Notes.

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

Section 10.04. Certificate and Opinion as to Conditions Precedent.

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

                           (i) an Officers' Certificate in form and substance
                  reasonably satisfactory to the Trustee (which shall include
                  the statements set forth in Section 10.05) stating that, in
                  the opinion of the signers, all conditions precedent and
                  covenants, if any, provided for in this Indenture relating to
                  the proposed action have been satisfied; and

                           (ii) an Opinion of Counsel in form and substance
                  reasonably satisfactory to the Trustee (which shall include
                  the statements set forth in Section 10.05) stating that, in
                  the opinion of such counsel, all such conditions precedent and
                  covenants have been satisfied.

Section 10.05. Statements Required in Certificate or Opinion.

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

                                     - 85 -
<PAGE>

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

                           (ii) 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;

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

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

Section 10.06. Rules by Trustee and Agents.

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

Section 10.07. No Personal Liability of Directors, Officers, Employees, Members
               and Stockholders.

         No director, officer, employee, incorporator, member or stockholder of
the Issuers, as such, shall have any liability for any obligations of the
Issuers under the Notes, this Indenture or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. The waiver and release
are part of the consideration for issuance of the Notes.

Section 10.08. Governing Law.

         THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS INDENTURE AND THE NOTES AND ANY SUBSIDIARY GUARANTEE WITHOUT
GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT
THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE OR THE NOTES OR ANY SUBSIDIARY GUARANTEE.

Section 10.09. No Adverse Interpretation of Other Agreements.

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

                                     - 86 -
<PAGE>

Section 10.10. Successors.

         All agreements of the Issuers in this Indenture and the Notes, as the
case may be, shall bind their respective successors. All agreements of the
Trustee in this Indenture shall bind its successors.

Section 10.11. Severability.

         In case any provision in this Indenture or the Notes, as the case may
be, 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 10.12. Counterpart Originals.

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

Section 10.13. Table of Contents, Headings, etc.

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

                                   ARTICLE 11

                           SATISFACTION AND DISCHARGE

Section 11.01. Satisfaction and Discharge of Indenture.

         This Indenture shall cease to be of further effect (except as to any
surviving rights of registration of transfer or exchange of Notes herein
expressly provided for), and the Trustee, on demand of and at the expense of the
Issuers, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when

         (1) either

                  (a) all Notes theretofore authenticated and delivered (other
         than (i) Notes which have been destroyed, lost or stolen and which have
         been replaced or paid as provided in Section 2.07 and (ii) Notes for
         whose payment money has theretofore been deposited in trust or
         segregated and held in trust by the Issuers and thereafter repaid to
         the Issuers or discharged from such trust,) have been delivered to the
         Trustee for cancellation; or

                  (b) all such Notes not theretofore delivered to the Trustee
         for cancellation

                           (i) have become due and payable, or

                                     - 87 -
<PAGE>

                           (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 by the Trustee in the name, and at the
                  expense, of the Issuers,

         and the Issuers, in the case of (i), (ii) or (iii) above, have
         deposited or caused to be deposited with the Trustee as trust funds in
         trust for the purpose an amount sufficient to pay and discharge the
         entire indebtedness on such Notes 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 Notes which have
         become due and payable) or to the maturity or redemption thereof, as
         the case may be;

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

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

Notwithstanding the satisfaction and discharge of this Indenture pursuant to
this Article 11, the obligations of the Issuers to the Trustee under Section
7.07, and, if money shall have been deposited with the Trustee pursuant to
subclause (b) of clause (1) of this Section, the obligations of the Trustee
under Section 11.02 shall survive.

Section 11.02. Application of Trust Money.

         All money deposited with the Trustee pursuant to Section 11.01 shall be
held in trust and applied by it, in accordance with the provisions of the Notes
and this Indenture, to the payment, either directly or through any Paying Agent
as the Trustee may determine, to the Persons entitled thereto, of the principal
(and premium, if any) and interest for whose payment such money has been
deposited with the Trustee.

                         [Signatures on following page]

                                     - 88 -
<PAGE>

                                   SIGNATURES

Dated as of December 15, 2004

                                             CCO HOLDINGS, LLC, as an Issuer

                                             By ________________________________
                                                Name: Eloise E. Schmitz
                                                Title: Vice President

                                             By ________________________________
                                                Name: Derek Chang
                                                Title: Executive Vice President

                                             CCO HOLDINGS CAPITAL CORP., as an
                                             Issuer

                                             By ________________________________
                                                Name: Eloise E. Schmitz
                                                Title: Vice President

                                             By ________________________________
                                                Name: Derek Chang
                                                Title: Executive Vice President

                                             Wells Fargo Bank, N.A.,
                                             as Trustee

                                             By ________________________________
                                                Name:
                                                Title:

SIGNATURE PAGE FOR INDENTURE

<PAGE>

                                                                       EXHIBIT A

                                 [Face of Note]

                              CUSIP NO. [_________]

                       Senior Floating Rate Notes due 2010

No.

                                 $[____________]

                                CCO HOLDINGS, LLC

                                       and

                           CCO HOLDINGS CAPITAL CORP.

promise to pay to  _________________________________________________________

or registered assigns,

the principal amount of  _____________________________________________ Dollars

($______________________________) on December 15, 2010.

Interest Payment Dates:  March 15, June 15, September 15 and December 15

Record Dates:  March 1, June 1, September 1 and December 1

Subject to Restrictions set forth in this Note.

                                      A-1
<PAGE>

IN WITNESS WHEREOF, each of CCO HOLDINGS, LLC and CCO HOLDINGS Capital Corp. has
caused this instrument to be duly executed.

Dated:  December 15, 2004

                                                  CCO HOLDINGS, LLC

                                                  By ___________________________
                                                     Name:
                                                     Title:

                                                  By ___________________________
                                                     Name:
                                                     Title:

                                                  CCO HOLDINGS CAPITAL CORP.

                                                  By ___________________________
                                                     Name:
                                                     Title:

                                                  By ___________________________
                                                     Name:
                                                     Title:

                                      A-2
<PAGE>

This is one of the Notes referred to
in the within-mentioned Indenture:

WELLS FARGO BANK, N.A.,
as Trustee

By: __________________________________
    Authorized Signatory

                                      A-3
<PAGE>

                                 [Back of Note]

                       Senior Floating Rate Notes due 2010

"THE ISSUERS HAVE REQUESTED THE DEPOSITORY TRUST COMPANY NOT TO TRANSFER ANY
INTEREST IN THIS GLOBAL NOTE BY EFFECTING BOOK-ENTRY DELIVERIES UNTIL JANUARY
24, 2005 EXCEPT TO A NON-U.S. PERSON IN COMPLIANCE WITH REGULATION S OR TO A
QUALIFIED INSTITUTIONAL BUYER IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES
ACT, IN EACH CASE IN ACCORDANCE WITH THE TRANSFER PROVISIONS SET FORTH IN
SECTION 2 OF THE INDENTURE."(1)

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

"THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION."(3)

"THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION
TERMINATION DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF AND THE LAST DATE ON

--------------------
         (1) This paragraph should be included only for temporary Regulation S
Global Notes.

         (2) This paragraph should be included only if the Notes are issued in
global form.

         (3) This paragraph should be removed upon the exchange of Notes for
Exchange Notes in an Exchange Offer or upon the registration of the Notes
pursuant to the terms of a Registration Rights Agreement.

                                      A-4
<PAGE>

WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY
(OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY OF ITS
SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE
144A"), TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER"
AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS
BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO
NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN "ACCREDITED INVESTOR" WITHIN
THE MEANING OF RULE 501(A)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS
AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT
OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN
A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT
PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANY OTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,
SUBJECT TO THE COMPANY'S AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER, SALE
OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH
OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE
RESALE RESTRICTION TERMINATION DATE."(4)

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

1. INTEREST. CCO Holdings, LLC, a Delaware limited liability company (the
"Company"), and CCO Holdings Capital Corp., a Delaware corporation ("Capital
Corp" and, together with the Company, the "Issuers"), promise to pay interest on
the principal amount of this Note at the rate per annum, reset quarterly, equal
to LIBOR plus 4.125%, as determined by the Calculation Agent from the Issue Date
until maturity. The interest rate on the Notes is subject to increase pursuant
to the provisions of the Registration Rights

-------------------
         (4) This paragraph should be removed upon the exchange of Notes for
Exchange Notes in an Exchange Offer or upon the registration of the Notes
pursuant to the terms of a Registration Rights Agreement.

                                      A-5
<PAGE>

Agreement. The Issuers will pay interest quarterly in arrears on March 15, June
15, September 15 and December 15 of each year (each an "Interest Payment Date"),
or if any such day is not a Business Day, on the next succeeding Business Day.
Interest on the Notes will accrue from the most recent date to which interest
has been paid or, if no interest has been paid, from the date of issuance;
provided that if there is no existing Default in the payment of interest, and if
this Note is authenticated between a record date referred to on the face and the
next succeeding Interest Payment Date, interest shall accrue from such next
succeeding Interest Payment Date; provided, further, that the first Interest
Payment Date shall be March 15, 2005. The Issuers shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at a rate that is 2%
per annum in excess of the rate then in effect to the extent lawful; they shall
pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace periods) from time to time on demand at the same rate to the
extent lawful. Interest will be computed on the basis of a 360-day year of
twelve 30-day months for the actual number of days elapsed. The amount of
interest for each day that the Notes are outstanding (the "Daily Interest
Amount") will be calculated by dividing the interest rate in effect for such day
by 360 and multiplying the result by the principal amount of the Notes. The
amount of interest to be paid on the Notes for each Interest Period will be
calculated by adding the Daily Interest Amounts for each day in the Interest
Period. All percentages resulting from any of the above calculations will be
rounded, if necessary, to the nearest one hundred-thousandth of a percentage
point, with five one-millionths of a percentage point being rounded upwards and
all dollar amounts used in or resulting from such calculations will be rounded
to the nearest cent (with one-half cent being rounded upwards). The interest
rate on the Notes will in no event be higher than the maximum rate permitted by
New York law as such rate may be modified by United States law of general
application.

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

         3. PAYING AGENT, REGISTRAR AND CALCULATION AGENT. Initially, Wells
Fargo Bank, N.A., the Trustee under the Indenture, will act as Paying Agent,
Registrar and Calculation Agent. The Issuers may change any Paying Agent,
Registrar or Calculation Agent without notice to any Holder. The Company or any
of its Subsidiaries may act as Paying Agent or Registrar.

                                      A-6
<PAGE>

         4. INDENTURE. The Issuers issued the Notes under an Indenture dated as
of December 15, 2004 (the "Indenture") between the Issuers and the Trustee. The
terms of the Notes include those stated in the Indenture and those made part of
the Indenture by reference to the Trust Indenture Act of 1939, as amended (15
U.S. Code ss. 77aaa-77bbbb). The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling.

         5. OPTIONAL REDEMPTION.

                                    (i) Except as set forth in clause (b) of
                  this paragraph 5, the Issuers shall not have the option to
                  redeem the Notes pursuant to this paragraph 5 prior to
                  December 15, 2006. Thereafter, the Issuers shall have the
                  option to redeem the Notes, in whole or in part, at the
                  redemption prices (expressed as percentages of principal
                  amount) set forth below plus accrued and unpaid interest
                  thereon, if any, to the applicable redemption date, if
                  redeemed during the twelve-month period beginning on December
                  15 of the years indicated below:

<TABLE>
<CAPTION>
        Year                                     Percentage
        ----                                     ----------
<S>                                              <C>
2006                                               102.00%
2007                                               101.00%
2008 and thereafter                                100.00%
</TABLE>

                                    (ii) Notwithstanding the provisions of
                  clause (a) of this Paragraph 5, at any time prior to December
                  15, 2006, the Issuers may, on any one or more occasions,
                  redeem up to 35% of the original aggregate principal amount of
                  the Notes (including the principal amount of any Additional
                  Notes) issued under the Indenture on a pro rata basis (or
                  nearly as pro rata as practicable), at a redemption price of
                  100.00% of the principal amount thereof, plus a premium equal
                  to the interest rate per annum applicable to the Notes on the
                  date notice of redemption is given, plus accrued and unpaid
                  interest to the redemption date, with the net cash proceeds of
                  one or more Equity Offerings; provided that:

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

                           (2) the redemption must occur within 60 days of the
         date of the closing of such Equity Offering.

         6. MANDATORY REDEMPTION.

                                      A-7
<PAGE>

         Except as otherwise provided in Paragraph 7 below, the Issuers shall
not be required to make mandatory redemption payments with respect to the Notes.

         7. REPURCHASE AT OPTION OF HOLDER.

                  (a) If there is a Change of Control, the Issuers shall make an
         offer (a "Change of Control Offer") to repurchase all or any part
         (equal to $1,000 or an integral multiple thereof) of each Holder's
         Notes at a purchase price equal to 101% of the aggregate principal
         amount thereof plus accrued and unpaid interest thereon, if any, to the
         date of purchase (the "Change of Control Payment"). Within 10 days
         following any Change of Control, the Issuers shall mail a notice to
         each Holder describing the transaction or transactions that constitute
         the Change of Control and offering to repurchase Notes on the Change of
         Control Payment Date specified in such notice, pursuant to the
         procedures required by the Indenture and described in such notice.

                  (b) If the Company or a Restricted Subsidiary thereof
         consummates any Asset Sale, when the aggregate amount of Excess
         Proceeds exceeds $25.0 million, the Company shall commence an offer (an
         "Asset Sale Offer") pursuant to Section 4.11 of the Indenture to all
         Holders of Notes and all holders of other Indebtedness that is of equal
         priority with the Notes containing provisions requiring offers to
         purchase or redeem with the proceeds of sales of assets to purchase the
         maximum principal amount of Notes and such other Indebtedness of equal
         priority that may be purchased out of the Excess Proceeds (which amount
         includes the entire amount of the Net Proceeds). The offer price in any
         Asset Sale Offer will be payable in cash and equal to 100% of principal
         amount plus accrued and unpaid interest, if any, to the date of
         purchase. If any Excess Proceeds remain after consummation of an Asset
         Sale Offer, the Company or any Restricted Subsidiaries thereof may use
         such remaining Excess Proceeds for any purpose not otherwise prohibited
         by the Indenture. If the aggregate principal amount of Notes and such
         other Indebtedness of equal priority tendered into such Asset Sale
         Offer exceeds the amount of Excess Proceeds, the Trustee shall select
         the Notes and such other Indebtedness of equal priority to be purchased
         on a pro rata basis. Upon completion of each Asset Sale Offer, the
         amount of Excess Proceeds shall be reset at zero. Holders of Notes that
         are the subject of an offer to purchase will receive an Asset Sale
         Offer from the Issuers prior to any related purchase date and may elect
         to have such Notes purchased by completing the form entitled "Option of
         Holder to Elect Purchase" on the reverse of the Notes.

         8. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form
without coupons in denominations of $1,000 and integral multiples of $1,000. The
transfer of Notes may be registered and Notes may be exchanged as provided in
the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and the
Issuers may require a Holder to pay any taxes and fees required by law or
permitted by the Indenture. The Issuers need not exchange or register the
transfer of any Note or portion of a Note selected for redemption, except for
the unredeemed portion of any Note being redeemed in part. Also, the Issuers
need not exchange or register the transfer of any Notes for a period of 15 days

                                      A-8
<PAGE>

before a selection of Notes to be redeemed or during the period between a record
date and the corresponding Interest Payment Date.

         9. PERSONS DEEMED OWNERS. The registered Holder of a Note may be
treated as its owner for all purposes.

         10. AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions,
the Indenture or the Notes may be amended or supplemented with the consent of
the Holders of at least a majority in aggregate principal amount of the Notes
then outstanding (including, without limitation, consents obtained in connection
with a purchase of, or tender offer or exchange offer for, Notes), and any
existing default or compliance with any provision of the Indenture or the Notes
may be waived with the consent of the Holders of a majority in aggregate
principal amount of the Notes then outstanding (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange
offer for, Notes). Without the consent of any Holder of a Note, the Issuers and
the Trustee may amend or supplement the Indenture or the Notes to cure any
ambiguity, defect or inconsistency, to provide for uncertificated Notes in
addition to or in place of certificated Notes, to provide for the assumption of
an Issuers' obligations to Holders of Notes in the case of a merger or
consolidation or sale of all or substantially all of the assets of either
Issuer, to make any change that would provide any additional rights or benefits
to the Holders of Notes or that does not adversely affect the legal rights under
the Indenture of any such Holder, or to comply with the requirements of the SEC
in order to effect or maintain the qualification of the Indenture under the TIA
or otherwise as necessary to comply with applicable law.

         11. DEFAULTS AND REMEDIES. Each of the following is an Event of
Default: (i) default for 30 consecutive days in the payment when due of interest
on the Notes, (ii) default in payment when due of the principal of or premium,
if any, on the Notes, (iii) failure by the Company or any of its Restricted
Subsidiaries to comply with Sections 4.16 and 5.01 of the Indenture, (iv)
failure by the Company or any of its Restricted Subsidiaries for 30 consecutive
days after written notice thereof has been given to the Issuers by the Trustee
or to the Issuers and the Trustee by the Holders of at least 25% of the
principal amount of the Notes outstanding to comply with any of their other
covenants or agreements in the Indenture, (v) default under any mortgage,
indenture or instrument under which there may be issued or by which there may be
secured or evidenced any Indebtedness for money borrowed by the Company or any
of its Restricted Subsidiaries (or the payment of which is guaranteed by the
Company or any of its Restricted Subsidiaries), whether such Indebtedness or
guarantee now exists or is created after the date of the Indenture, if that
default: (a) is caused by a failure to pay at final stated maturity the
principal amount of such Indebtedness prior to the expiration of the grace
period provided in such Indebtedness on the date of such default (a "Payment
Default"); or (b) results in the acceleration of such Indebtedness prior to its
express maturity, and, in each case, the principal amount of any such
Indebtedness, together with the principal amount of any other such Indebtedness
under which there has been a Payment Default or the maturity of which has been
so accelerated, aggregates $100 million or more, (vi) failure by the Company or
any of its Restricted Subsidiaries to pay final judgments which are
non-appealable aggregating in excess of $100 million (net of applicable
insurance which has not been denied in writing by the insurer), which judgments
are not paid, discharged or stayed for a period of 60 days or (vii) certain

                                      A-9
<PAGE>

events of bankruptcy or insolvency with respect to the Company or any of its
Significant Subsidiaries. In the case of an Event of Default arising from
certain events of bankruptcy or insolvency with respect to the Company, all
outstanding Notes will become due and payable without further action or notice.
If any other Event of Default occurs and is continuing, the Trustee by notice to
the Issuers or the Holders of at least 25% in principal amount of the then
outstanding Notes by notice to the Issuers and the Trustee may declare all the
Notes to be due and payable. Holders may not enforce the Indenture or the Notes
except as provided in the Indenture. Subject to certain limitations, Holders of
a majority in aggregate principal amount of the then outstanding Notes may
direct the Trustee in its exercise of any trust or power. The Trustee may
withhold from Holders of the Notes notice of any continuing Default or Event of
Default (except a Default or Event of Default relating to the payment of
principal or interest) if it determines that withholding notice is in their
interest. The Holders of a majority in aggregate principal amount of the Notes
then outstanding by notice to the Trustee may on behalf of the Holders of all of
the Notes waive any existing Default or Event of Default and its consequences
under the Indenture except a continuing Default or Event of Default in the
payment of interest on, premium, if any, or the principal of, the Notes. The
Issuers are required to deliver to the Trustee annually a statement regarding
compliance with the Indenture. Upon becoming aware of any Default or Event of
Default, the Issuers are required to deliver to the Trustee a statement
specifying such Default or Event of Default.

         12. TRUSTEE DEALINGS WITH ISSUERS. The Trustee, in its individual or
any other capacity, may make loans to, accept deposits from, and perform
services for the Issuers or their Affiliates, and may otherwise deal with the
Issuers or their Affiliates, as if it were not the Trustee.

         13. NO RECOURSE AGAINST OTHERS. A director, officer, employee,
incorporator, member or stockholder of either of the Issuers, as such, shall not
have any liability for any obligations of the Issuers under the Notes or the
Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and
releases all such liability. The waiver and release are part of the
consideration for the issuance of the Notes.

         14. GOVERNING LAW. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL
GOVERN AND BE USED TO CONSTRUE THIS NOTE AND THE INDENTURE WITHOUT GIVING EFFECT
TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THAT THE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. EACH
OF THE PARTIES HERETO AND THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS NOTE.

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

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

                                      A-10
<PAGE>

         17. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND
RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of
Notes under the Indenture, Holders of Restricted Global Notes and Restricted
Definitive Notes shall have all the rights set forth in any Registration Rights
Agreement.

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

                  The Issuers will furnish to any Holder upon written request
and without charge a copy of the Indenture and/or the Registration Rights
Agreement. Requests may be made to:

         CCO Holdings, LLC
         CCO Holdings Capital Corp.
         c/o Charter Communications, Inc.
         12405 Powerscourt Drive
         Suite 100
         St. Louis, Missouri 63131
         Attention: Secretary
         Telecopier No.: (314) 965-8793

                                      A-11
<PAGE>

                                 ASSIGNMENT FORM

         To assign this Note, fill in the form below:

(i) or (we) assign and transfer this Note to: __________________________________
                                                (Insert assignee's legal name)

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

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

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

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

Date:_______________________

         Your Signature:________________________________________________________
                           (Sign exactly as your name appears on the face of
                                             this Note)

         Signature Guarantee*:__________________________________________________

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

                                      A-12
<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

         If you want to elect to have this Note purchased by the Issuers
pursuant to Section 4.11 or 4.16 of the Indenture, check the appropriate box
below:

         [ ] Section 4.11      [ ] Section 4.16

         If you want to elect to have only part of the Note purchased by the
Issuers pursuant to Section 4.11 or Section 4.16 of the Indenture, state the
amount you elect to have purchased:

$ _______________________

Date:____________________

         Your Signature: _______________________________________________________
                         (Sign exactly as your name appears on the face of this
                                                 Note)

         Tax Identification No.: _______________________________________________

         Signature Guarantee*:  ________________________________________________

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

                                      A-13
<PAGE>

             SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

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

<TABLE>
<CAPTION>
                                             Principal
              Amount of      Amount of       Amount of
             decrease in    increase in     this Global
              Principal      Principal         Note
              Amount of      Amount of       following        Signature of authorized
 Date of     this Global    this Global    such decrease    officer of Trustee or Note
Exchange         Note          Note        (or increase)             Custodian
--------     -----------    -----------    -------------    --------------------------
<S>          <C>            <C>            <C>              <C>
</TABLE>

                                      A-14
<PAGE>

                                                                       EXHIBIT B

                         FORM OF CERTIFICATE OF TRANSFER

CCO Holdings, LLC
CCO Holdings Capital Corp.
c/o Charter Communications, Inc.
12405 Powerscourt Drive, Suite 100
St. Louis, Missouri 63131

Wells Fargo Bank, N.A.
Corporate Trust Services
MAC N9303-120
Sixth and Marquette Avenue
Minneapolis, MN 55479
Telecopier No.: (612) 667-9825
Attention: Timothy P. Mowdy

         Re: Senior Floating Rate Notes due 2010

         Reference is hereby made to the Indenture, dated as of December 15,
2004 (the "Indenture"), among CCO Holdings, LLC (the "Company") and CCO Holdings
Capital Corp. ("Capital Corp" and, together with the Company, the "Issuers"),
and Wells Fargo Bank, N.A., as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

         ___________________ (the "Transferor") owns and proposes to transfer
the Note[s] or interest in such Note[s] specified in Annex A hereto, in the
principal amount of $_____________________________ in such Note[s] or interests
(the "Transfer"), to ___________________________ (the "Transferee"), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor
hereby certifies that:

[CHECK ALL THAT APPLY]

         1. Check if Transferee will take delivery of a beneficial interest in
the Rule 144A Global Note or a Definitive Note Pursuant to Rule 144A. The
Transfer is being effected pursuant to and in accordance with Rule 144A under
the United States Securities Act of 1933, as amended (the "Securities Act"),
and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believed and believes is purchasing the beneficial interest or
Definitive Note for its own account, or for one or more accounts with respect to
which such Person exercises sole investment discretion, and such Person and each
such account is a "qualified institutional buyer" within the meaning of Rule
144A in a transaction meeting the requirements of Rule 144A and such Transfer is
in compliance with any applicable blue sky securities laws of any state of the
United States. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note
will be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the Rule 144A Global Note and/or the Definitive Note
and in the Indenture and the Securities Act.

                                      B-1
<PAGE>

         2. Check if Transferee will take delivery of a beneficial interest in
the Regulation S Global Note or a Definitive Note pursuant to Regulation S. The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule
904 under the Securities Act and, accordingly, the Transferor hereby further
certifies that (i) the Transfer is not being made to a person in the United
States and (x) at the time the buy order was originated, the Transferee was
outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United
States or (y) the transaction was executed in, on or through the facilities of a
designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in
the United States, (ii) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S
under the Securities Act and (iii) the transaction is not part of a plan or
scheme to evade the registration requirements of the Securities Act. Upon
consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on Transfer enumerated in the Private Placement
Legend printed on the Regulation S Global Note and/or the Definitive Note and in
the Indenture and the Securities Act. If the Transfer of the beneficial interest
occurs prior to the expiration of the 40-day distribution compliance period set
forth in Regulation S, the transferred beneficial interest will be held
immediately thereafter through Euroclear or Clearstream.

         3. Check and complete if Transferee will take delivery of a beneficial
interest in a Definitive Note pursuant to any provision of the Securities Act
other than Rule 144A or Regulation S. The Transfer is being effected in
compliance with the transfer restrictions applicable to beneficial interests in
Restricted Global Notes and Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act and any applicable blue sky securities laws
of any state of the United States, and accordingly the Transferor hereby further
certifies that (check one):

                  (a) such Transfer is being effected pursuant to and in
         accordance with Rule 144 under the Securities Act; or

                  (b) such Transfer is being effected to the Company or a
         subsidiary thereof; or

                  (c) such Transfer is being effected pursuant to an effective
         registration statement under the Securities Act and in compliance with
         the prospectus delivery requirements of the Securities Act; or

                  (d) such Transfer is being effected to an Institutional
         Accredited Investor and pursuant to an exemption from the registration
         requirements of the Securities Act other than Rule 144A, Rule 144 or
         Rule 904, and the Transferor hereby further certifies that it has not
         engaged in any general solicitation within the meaning of Regulation D
         under the Securities Act and the Transfer complies with the transfer
         restrictions applicable to beneficial interests in a Restricted Global
         Note or Restricted Definitive Notes and the requirements of the
         exemption claimed, which certification is supported by (1) a
         certificate executed by the Transferee in the form of Exhibit D to the
         Indenture and (2) an Opinion of Counsel provided by the Transferor or
         the

                                      B-2
<PAGE>

         Transferee (a copy of which the Transferor has attached to this
         certification), to the effect that such Transfer is in compliance with
         the Securities Act. Upon consummation of the proposed transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will be subject to the restrictions on
         transfer enumerated in the Private Placement Legend printed on the
         Restricted Global Note and/or the Definitive Notes and in the Indenture
         and the Securities Act.

         4. Check if Transferee will take delivery of a beneficial interest in
an Unrestricted Global Note or of an Unrestricted Definitive Note.

                  (a) Check if Transfer is pursuant to Rule 144. (i) The
         Transfer is being effected pursuant to and in accordance with Rule 144
         under the Securities Act and in compliance with the transfer
         restrictions contained in the Indenture and any applicable blue sky
         securities laws of any state of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will no longer be subject to the
         restrictions on transfer enumerated in the Private Placement Legend
         printed on the Restricted Global Notes, on Restricted Definitive Notes
         and in the Indenture.

                  (b) Check if Transfer is Pursuant to Regulation S. (i) The
         Transfer is being effected pursuant to and in accordance with Rule 903
         or Rule 904 under the Securities Act and in compliance with the
         transfer restrictions contained in the Indenture and any applicable
         blue sky securities laws of any state of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will no longer be subject to the
         restrictions on transfer enumerated in the Private Placement Legend
         printed on the Restricted Global Notes, on Restricted Definitive Notes
         and in the Indenture.

                  (c) Check if Transfer is Pursuant to Other Exemption. (i) The
         Transfer is being effected pursuant to and in compliance with an
         exemption from the registration requirements of the Securities Act
         other than Rule 144, Rule 903 or Rule 904 and in compliance with the
         transfer restrictions contained in the Indenture and any applicable
         blue sky securities laws of any State of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will not be subject to the restrictions on
         transfer enumerated in the Private Placement Legend printed on the
         Restricted Global Notes or Restricted Definitive Notes and in the
         Indenture.

                                      B-3
<PAGE>

         This certificate and the statements contained herein are made for your
benefit and the benefit of the Issuers.

___________________________________
    [Insert Name of Transferor]

By:________________________________
   Name:
   Title:

Dated: ____________________________

                                      B-4
<PAGE>

                       ANNEX A TO CERTIFICATE OF TRANSFER

         1. The Transferor owns and proposes to transfer the following:

         [CHECK ONE OF (a) OR (b)]

                  (a) a beneficial interest in the:

                           (i) Rule 144A Global Note (CUSIP __________), or

                           (ii) Regulation S Global Note (CUSIP _________), or

                  (b) a Restricted Definitive Note.

         2. After the Transfer the Transferee will hold:

         [CHECK ONE]

                  (a) a beneficial interest in the:

                           (i) Rule 144A Global Note (CUSIP __________), or

                           (ii) Regulation S Global Note (CUSIP _________), or

                           (iii) Unrestricted Global Note (CUSIP _________); or

                  (b) a Restricted Definitive Note; or

                  (c) an Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

                                      B-5
<PAGE>

                                                                       EXHIBIT C

                         FORM OF CERTIFICATE OF EXCHANGE

CCO Holdings, LLC
CCO Holdings Capital Corp.
c/o Charter Communications, Inc.
12405 Powerscourt Drive, Suite 100
St. Louis, Missouri 63131

Wells Fargo Bank, N.A.
Corporate Trust Services
MAC N9303-120
Sixth and Marquette Avenue
Minneapolis, MN 55479
Telecopier No.: (612) 667-9825
Attention: Timothy P. Mowdy

         Re: Senior Floating Rate Notes due 2010

                                (CUSIP [_______])

         Reference is hereby made to the Indenture, dated as of December 15,
2004 (the "Indenture"), among CCO Holdings, LLC (the "Company") and CCO Holdings
Capital Corp. ("Capital Corp" and, together with the Company, the "Issuers"),
and Wells Fargo Bank, N.A., as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

         __________________________ (the "Owner") owns and proposes to exchange
the Note[s] or interest in such Note[s] specified herein, in the principal
amount of $____________________________ in such Note[s] or interests (the
"Exchange"). In connection with the Exchange, the Owner hereby certifies that:

         1. Exchange of Restricted Definitive Notes or Beneficial Interests in a
Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests
in an Unrestricted Global Note

                  (a) Check if Exchange is from beneficial interest in a
         Restricted Global Note to beneficial interest in an Unrestricted Global
         Note. In connection with the Exchange of the Owner's beneficial
         interest in a Restricted Global Note for a beneficial interest in an
         Unrestricted Global Note in an equal principal amount, the Owner hereby
         certifies (i) the beneficial interest is being acquired for the Owner's
         own account without transfer, (ii) such Exchange has been effected in
         compliance with the transfer restrictions applicable to the Global
         Notes and pursuant to and in accordance with the United States
         Securities Act of 1933, as amended (the "Securities Act"), (iii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act and (iv) the beneficial interest in an Unrestricted
         Global Note is being acquired in compliance with any applicable blue
         sky securities laws of any state of

                                      C-1
<PAGE>

         the United States. If the Exchange is from beneficial interest in a
         Regulation S Global Note to beneficial interest in an Unrestricted
         Global Note, the Owner further certifies that it is either (x) a
         non-U.S. Person to whom Notes would be transferred in accordance with
         Regulation S or (y) a U.S. Person who purchased Notes in a transaction
         that did not require registration under the Securities Act.

                  (b) Check if Exchange is from beneficial interest in a
         Restricted Global Note to Unrestricted Definitive Note. In connection
         with the Exchange of the Owner's beneficial interest in a Restricted
         Global Note for an Unrestricted Definitive Note, the Owner hereby
         certifies (i) the Definitive Note is being acquired for the Owner's own
         account without transfer, (ii) such Exchange has been effected in
         compliance with the transfer restrictions applicable to the Restricted
         Global Notes and pursuant to and in accordance with the Securities Act,
         (iii) the restrictions on transfer contained in the Indenture and the
         Private Placement Legend are not required in order to maintain
         compliance with the Securities Act and (iv) the Definitive Note is
         being acquired in compliance with any applicable blue sky securities
         laws of any state of the United States.

                  (c) Check if Exchange is from Restricted Definitive Note to
         beneficial interest in an Unrestricted Global Note. In connection with
         the Owner's Exchange of a Restricted Definitive Note for a beneficial
         interest in an Unrestricted Global Note, the Owner hereby certifies (i)
         the beneficial interest is being acquired for the Owner's own account
         without transfer, (ii) such Exchange has been effected in compliance
         with the transfer restrictions applicable to Restricted Definitive
         Notes and pursuant to and in accordance with the Securities Act, (iii)
         the restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act and (iv) the beneficial interest is being acquired
         in compliance with any applicable blue sky securities laws of any state
         of the United States. If the Exchange is from beneficial interest in a
         Regulation S Global Note to an Unrestricted Definitive Note, the Owner
         further certifies that it is either (x) a non-U.S. Person to whom Notes
         could be transferred in accordance with Regulation S or (y) a U.S.
         Person who purchased Notes in a transaction that did not require
         registration under the Securities Act.

                  (d) Check if Exchange is from Restricted Definitive Note to
         Unrestricted Definitive Note. In connection with the Owner's Exchange
         of a Restricted Definitive Note for an Unrestricted Definitive Note,
         the Owner hereby certifies (i) the Unrestricted Definitive Note is
         being acquired for the Owner's own account without transfer, (ii) such
         Exchange has been effected in compliance with the transfer restrictions
         applicable to Restricted Definitive Notes and pursuant to and in
         accordance with the Securities Act, (iii) the restrictions on transfer
         contained in the Indenture and the Private Placement Legend are not
         required in order to maintain compliance with the Securities Act and
         (iv) the Unrestricted Definitive Note is being acquired in compliance
         with any applicable blue sky securities laws of any state of the United
         States.

                                      C-2
<PAGE>

         2. Exchange of Restricted Definitive Notes or Beneficial Interests in
Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests
in Restricted Global Notes.

                  (a) [ ] Check if Exchange is from beneficial interest in a
         Restricted Global Note to Restricted Definitive Note. In connection
         with the Exchange of the Owner's beneficial interest in a Restricted
         Global Note for a Restricted Definitive Note with an equal principal
         amount, the Owner hereby certifies that the Restricted Definitive Note
         is being acquired for the Owner's own account without transfer. If the
         Exchange is from beneficial interest in a Regulation S Global Note to a
         Restricted Definitive Note, the Owner further certifies that it is
         either (x) a non-U.S. Person to whom Notes could be transferred in
         accordance with Regulation S or (y) a U.S. Person who purchased Notes
         in a transaction that did not require registration under the Securities
         Act. Upon consummation of the proposed Exchange in accordance with the
         terms of the Indenture, the Restricted Definitive Note issued will
         continue to be subject to the restrictions on transfer enumerated in
         the Private Placement Legend printed on the Restricted Definitive Note
         and in the Indenture and the Securities Act.

                  (b) Check if Exchange is from Restricted Definitive Note to
         beneficial interest in a Restricted Global Note. In connection with the
         Exchange of the Owner's Restricted Definitive Note for a beneficial
         interest in the [CHECK ONE] [ ] Rule 144A Global Note or [ ] Regulation
         S Global Note with an equal principal amount, the Owner hereby
         certifies (i) the beneficial interest is being acquired for the Owner's
         own account without transfer and (ii) such Exchange has been effected
         in compliance with the transfer restrictions applicable to the
         Restricted Global Notes and pursuant to and in accordance with the
         Securities Act, and in compliance with any applicable blue sky
         securities laws of any state of the United States. Upon consummation of
         the proposed Exchange in accordance with the terms of the Indenture,
         the beneficial interest issued will be subject to the restrictions on
         transfer enumerated in the Private Placement Legend printed on the
         relevant Restricted Global Note and in the Indenture and the Securities
         Act.

                                      C-3
<PAGE>

         This certificate and the statements contained herein are made for your
benefit and the benefit of the Issuers.

______________________________________________
                   [Insert Name of Transferor]

By:_________________________________________
   Name:
   Title:

 Dated: ____________________________________

                                      C-4
<PAGE>

                                                                       EXHIBIT D

                            FORM OF CERTIFICATE FROM
                   ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

CCO Holdings, LLC
CCO Holdings Capital Corp.
c/o Charter Communications, Inc.
12405 Powerscourt Drive, Suite 100
St. Louis, Missouri 63131

Wells Fargo Bank, N.A.
Corporate Trust Services
MAC N9303-120
Sixth and Marquette Avenue
Minneapolis, MN 55479
Telecopier No.: (612) 667-9825
Attention: Timothy P. Mowdy

         Re: Senior Floating Rate Notes due 2010

         Reference is hereby made to the Indenture, dated as of December 15,
2004 (the "Indenture"), among CCO Holdings, LLC (the "Company") and CCO Holdings
Capital Corp. ("Capital Corp" and, together with the Company, the "Issuers"),
and Wells Fargo Bank, N.A., as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

         In connection with our proposed purchase of $____________ aggregate
principal amount of:

                  (i) [ ] a beneficial interest in a Global Note, or

                  (ii)  [ ] a Definitive Note,

we confirm that:

         1. We understand that any subsequent transfer of the Notes or any
interest therein is subject to certain restrictions and conditions set forth in
the Indenture and the undersigned agrees to be bound by, and not to resell,
pledge or otherwise transfer the Notes or any interest therein except in
compliance with, such restrictions and conditions and the United States
Securities Act of 1933, as amended (the "Securities Act").

         2. We understand that the offer and sale of the Notes have not been
registered under the Securities Act, and that the Notes and any interest therein
may not be offered or sold except as permitted in the following sentence. We
agree, on our own behalf and on behalf of any accounts for which we are acting
as hereinafter stated, that if we should sell the Notes or any interest therein,
we will do so only (a) to the Company or any subsidiary thereof, (b) in
accordance with Rule 144A under the Securities Act to a "qualified institutional
buyer" (as defined therein), (c) to an institutional "accredited investor" (as
defined below) that, prior to such transfer, furnishes (or has furnished on its
behalf by a U.S. broker-dealer) to you and to the Company a signed letter
substantially in the form of this

<PAGE>

letter and an Opinion of Counsel in form reasonably acceptable to the Company to
the effect that such transfer is in compliance with the Securities Act, (d)
outside the United States in accordance with Rule 904 of Regulation S under the
Securities Act, (e) pursuant to the provisions of Rule 144(k) under the
Securities Act or (f) pursuant to an effective registration statement under the
Securities Act, and we further agree to provide to any person purchasing the
Definitive Note or beneficial interest in a Global Note from us in a transaction
meeting the requirements of clauses (a) through (e) of this paragraph a notice
advising such purchaser that resales thereof are restricted as stated herein.

         3. We understand that, on any proposed resale of the Notes or
beneficial interest therein, we will be required to furnish to you and the
Issuers such certifications, legal opinions and other information as you and the
Issuers may reasonably require to confirm that the proposed sale complies with
the foregoing restrictions. We further understand that the Notes purchased by us
will bear a legend to the foregoing effect.

         4. We are an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have
such knowledge and experience in financial and business matters as to be capable
of evaluating the merits and risks of our investment in the Notes, and we and
any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

         5. We are acquiring the Notes or beneficial interest therein purchased
by us for our own account or for one or more accounts (each of which is an
institutional "accredited investor") as to each of which we exercise sole
investment discretion.

         You and the Issuers are entitled to rely upon this letter and are
irrevocably authorized to produce this letter or a copy to any interested party
in any administrative or legal proceedings or official inquiry with respect to
the matters covered hereby.

___________________________________________
                [Insert Name of Transferor]

By: _______________________________________
    Name:
    Title:

Dated: ____________________________________

                                       D-2<PAGE>

                                                                    EXHIBIT 10.2

                                CCO HOLDINGS, LLC
                           CCO HOLDINGS CAPITAL CORP.

                                  $550,000,000

                       SENIOR FLOATING RATE NOTES DUE 2010

                   EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

                                                               December 15, 2004

Credit Suisse First Boston LLC
Citigroup Global Markets Inc.
As representatives ("Representatives") of the Several Purchasers
     c/o Credit Suisse First Boston LLC
     Eleven Madison Avenue
     New York, New York 10010-3629

Ladies and Gentlemen:

         CCO Holdings, LLC, a Delaware limited liability company (the
"Company"), and CCO Holdings Capital Corp., a Delaware corporation ("CCO
Holdings Capital" and, together with the Company, the "Issuers"), propose,
subject to the terms and conditions stated herein, to issue and sell to the
Purchasers (as defined herein) upon the terms set forth in the Purchase
Agreement (as defined herein) $550,000,000 aggregate principal amount of their
Senior Floating Rate Notes due 2010, issued on December 15, 2004. As an
inducement to the Purchasers to enter into the Purchase Agreement and in
satisfaction of a condition to the obligations of the Purchasers thereunder, the
Issuers agree with the Purchasers for the benefit of holders (as defined herein)
from time to time of the Registrable Securities (as defined herein) as follows:

         1. Certain Definitions. For purposes of this Exchange and Registration
Rights Agreement, the following terms shall have the following respective
meanings:

         "Agreement" shall mean this Exchange and Registration Rights Agreement.

         "Base Interest" shall mean the interest that would otherwise accrue on
the Notes under the terms thereof and the Indenture, without giving effect to
the provisions of this Exchange and Registration Rights Agreement.

         The term "broker-dealer" shall mean any broker or dealer registered
with the Commission under the Exchange Act.

         "Closing Date" shall mean December 15, 2004.

         "Commission" shall mean the United States Securities and Exchange
Commission, or any other federal agency at the time administering the Exchange
Act or the Securities Act, whichever is the relevant statute for the particular
purpose.

         "Effective Time," in the case of (i) an Exchange Offer Registration,
shall mean the time and date as of which the Commission declares the Exchange
Offer Registration Statement

<PAGE>

effective or as of which the Exchange Offer Registration Statement otherwise
becomes effective and (ii) a Shelf Registration, shall mean the time and date as
of which the Commission declares the Shelf Registration Statement effective or
as of which the Shelf Registration Statement otherwise becomes effective.

         "Electing Holder" shall mean any holder of Registrable Securities that
has returned a completed and signed Notice and Questionnaire to the Issuers in
accordance with Section 3(e)(ii) or 3(e)(iii) hereof.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, or any
successor thereto, and the rules, regulations and forms promulgated thereunder,
all as the same shall be amended from time to time.

         "Exchange Notes" shall have the meaning assigned thereto in Section
2(a) hereof.

         "Exchange Offer" shall have the meaning assigned thereto in Section
2(a) hereof.

         "Exchange Offer Registration" shall have the meaning assigned thereto
in Section 3(c) hereof.

         "Exchange Offer Registration Statement" shall have the meaning assigned
thereto in Section 2(a) hereof.

         "Exchanging Dealer" shall have the meaning assigned thereto in Section
6(a) hereof.

         The term "holder" shall mean, unless the context otherwise indicates,
each of the Purchasers and other persons who acquire Registrable Securities from
time to time (including, without limitation, any successors or assigns), in each
case for so long as such person is a registered holder of any Registrable
Securities.

         "Indenture" shall mean the Indenture governing the Notes, dated as of
December 15, 2004 between the Issuers and Wells Fargo Bank, N.A., as Trustee, as
the same shall be amended from time to time.

         "Losses" shall have the meaning assigned thereto in Section 6(d)
hereof.

         "Notes" shall mean, collectively, the Senior Floating Rate Notes due
2010 of the Issuers to be issued and sold to the Purchasers pursuant to the
Purchase Agreement, and Notes issued in exchange therefor or in lieu thereof,
pursuant to the Indenture.

         "Notice and Questionnaire" means a Notice of Registration Statement and
Selling Securityholder Questionnaire substantially in the form of Exhibit A
hereto.

         The term "person" shall mean a corporation, association, partnership,
organization, limited liability company, business, individual, government or
political subdivision thereof or governmental agency.

         "Purchase Agreement" shall mean the Purchase Agreement, dated December
1, 2004, between the Purchasers and the Issuers relating to the Notes.

         "Purchasers" shall mean the Purchasers named in Schedule I to the
Purchase Agreement.

                                       2
<PAGE>

         "Registrable Securities" shall mean the Notes (and to the extent set
forth in clause (i) of this paragraph and in Section 2(d), certain Exchange
Notes); provided, however, that a Note or Exchange Note shall cease to be a
Registrable Security when (i) in the circumstances contemplated by Section 2(a)
hereof, such Note has been exchanged for an Exchange Note in an Exchange Offer
as contemplated in Section 2(a) hereof (provided that any Exchange Note that,
pursuant to the penultimate sentence of Section 2(a), is included in a
prospectus for use in connection with resales by broker-dealers shall be deemed
to be a Registrable Security with respect to Sections 5, 6 and 9 hereof until
resale of such Registrable Security has been effected within the 180-day period
referred to in Section 2(a)(y)); (ii) in the circumstances contemplated by
Section 2(b) hereof, a Shelf Registration Statement registering such Note or
Exchange Note under the Securities Act has been declared or becomes effective
and such Note or Exchange Note has been sold or otherwise transferred by the
holder thereof pursuant to and in a manner contemplated by such effective Shelf
Registration Statement; (iii) such Note or Exchange Note is sold pursuant to
Rule 144 under circumstances in which any legend borne by such Note or Exchange
Note relating to restrictions on transferability thereof, under the Securities
Act or otherwise, is removed by the Issuers or pursuant to the Indenture; (iv)
such Note or Exchange Note is eligible to be sold pursuant to paragraph (k) of
Rule 144; or (v) such Note or Exchange Note shall cease to be outstanding.

         "Registration Default" shall have the meaning assigned thereto in
Section 2(c) hereof.

         "Registration Default Period" shall have the meaning assigned thereto
in Section 2(c) thereof.

         "Registration Expenses" shall have the meaning assigned thereto in
Section 4 hereof.

         "Resale Period" shall have the meaning assigned thereto in Section 2(a)
hereof.

         "Restricted Holder" shall mean (i) a holder that is an affiliate of the
Issuers within the meaning of Rule 405, (ii) a holder who acquires Exchange
Notes outside the ordinary course of such holder's business, (iii) a holder who
has arrangements or understandings with any person to participate in the
Exchange Offer for the purpose of distributing Exchange Notes and (iv) a holder
that is a broker-dealer, but only with respect to Exchange Notes received by
such broker-dealer pursuant to an Exchange Offer in exchange for Registrable
Securities acquired by the broker-dealer directly from the Issuers.

         "Rule 144," "Rule 405" and "Rule 415" shall mean, in each case, such
rule promulgated under the Securities Act (or any successor provision), as the
same shall be amended from time to time.

         "Securities Act" shall mean the Securities Act of 1933, or any
successor thereto, and the rules, regulations and forms promulgated thereunder,
all as the same shall be amended from time to time.

         "Shelf Registration" shall have the meaning assigned thereto in Section
2(b) hereof.

         "Shelf Registration Statement" shall have the meaning assigned thereto
in Section 2(b) hereof.

         "Special Interest" shall have the meaning assigned thereto in Section
2(c) hereof.

                                       3
<PAGE>

         "Transfer Restricted Notes" shall have the meaning assigned thereto in
Section 2(c) hereof.

         "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, or
any successor thereto, and the rules, regulations and forms promulgated
thereunder, all as the same shall be amended from time to time.

         Unless the context otherwise requires, any reference herein to a
"Section" or "clause" refers to a Section or clause, as the case may be, of this
Exchange and Registration Rights Agreement, and the words "herein," "hereof" and
"hereunder" and other words of similar import refer to this Exchange and
Registration Rights Agreement as a whole and not to any particular Section or
other subdivision.

         2. Registration Under the Securities Act.

                  (a) Except as set forth in Section 2(b) below, the Issuers
agree to file under the Securities Act, as soon as practicable, but no later
than 90 days after the Closing Date, a registration statement relating to an
offer to exchange (such registration statement, the "Exchange Offer Registration
Statement", and such offer, the "Exchange Offer") any and all of the Notes for a
like aggregate principal amount of notes issued by the Issuers, which notes are
substantially identical in all material respects to the Notes (and are entitled
to the benefits of the Indenture which has been qualified under the Trust
Indenture Act), except that they have been registered pursuant to an effective
registration statement under the Securities Act and do not contain provisions
for the additional interest contemplated in Section 2(c) below (such notes
hereinafter called "Exchange Notes"). The Issuers agree to use their reasonable
best efforts to cause the Exchange Offer Registration Statement to become or be
declared effective under the Securities Act as soon as practicable, but no later
than 210 days after the Closing Date. The Exchange Offer will be registered
under the Securities Act on the appropriate form and will comply with the
Exchange Act. The Issuers further agree to use their reasonable best efforts to
complete the Exchange Offer promptly, but no later than 30 business days or
longer, if required by the federal securities laws, after such registration
statement has become effective, hold the Exchange Offer open for at least 20
business days (calculated in accordance with the Exchange Act) and exchange
Exchange Notes for all Registrable Securities that have been properly tendered
and not withdrawn on or prior to the expiration of the Exchange Offer. The
Exchange Offer will be deemed to have been completed only if the Exchange Notes
received by holders, other than Restricted Holders, in the Exchange Offer in
exchange for Registrable Securities are, upon receipt, transferable by each such
holder without restriction under the Securities Act and the Exchange Act and
without material restrictions under the blue sky or securities laws of a
substantial majority of the States of the United States of America. The Exchange
Offer shall be deemed to have been completed upon the earlier to occur of (i)
the Issuers having exchanged the Exchange Notes for all outstanding Registrable
Securities pursuant to the Exchange Offer and (ii) the Issuers having exchanged,
pursuant to the Exchange Offer, Exchange Notes for all Registrable Securities
that have been properly tendered and not withdrawn before the expiration of the
Exchange Offer. The Issuers agree (x) to include in the Exchange Offer
Registration Statement a prospectus for use in any resales by any holder of
Exchange Notes that is a broker-dealer and (y) to keep such Exchange Offer
Registration Statement effective for a period (the "Resale Period") beginning
when Exchange Notes are first issued in the Exchange Offer and ending upon the
earlier of the expiration of the 180th day after the Exchange Offer has been
completed or such time as such broker-dealers no longer own any Registrable
Securities. With respect to such Exchange Offer Registration Statement, such
holders shall have the benefit of the rights of indemnification and contribution
set forth in Sections 6(a), (c), (d) and (e) hereof.

                                       4
<PAGE>

                  (b) If (i) on or prior to the time the Exchange Offer is
completed existing law or Commission policy or interpretations are changed such
that the Exchange Notes received by holders, other than Restricted Holders, in
the Exchange Offer in exchange for Registrable Securities are not or would not
be, upon receipt, transferable by each such holder without restriction under the
Securities Act, (ii) the Exchange Offer Registration Statement has not been
declared effective under the Securities Act within 210 days following the
Closing Date, or completed within 30 business days after the effectiveness of
the Exchange Offer Registration Statement, or longer, if required by the federal
securities laws, (iii) any Purchaser so requests with respect to Registrable
Securities that are not eligible to be exchanged for Exchange Notes in the
Exchange Offer and that are held by it following the consummation of the
Exchange Offer, or (iv) the Exchange Offer is not available to any holder (other
than a Purchaser), the Issuers shall, in lieu of (or, in the case of clause
(iii) or (iv), in addition to) conducting the Exchange Offer contemplated by
Section 2(a), file a "shelf" registration statement in accordance with the
remainder of this Section 2(b) below, under the Securities Act. The Issuers
shall, on or prior to 30 business days after the time such obligation to file
arises, file a "shelf" registration statement providing for the registration of,
and the sale on a continuous or delayed basis by the holders of, all the
Registrable Securities, pursuant to Rule 415 or any similar rule that may be
adopted by the Commission (such filing, the "Shelf Registration" and such
registration statement, the "Shelf Registration Statement"). The Issuers agree
to use their reasonable best efforts (x) to cause the Shelf Registration
Statement to become or be declared effective by the Commission no later than 90
days after such obligation to file arises and to keep such Shelf Registration
Statement continuously effective for a period ending on the earlier of (i) the
second anniversary of the Effective Time or (ii) such time as there are no
longer any Registrable Securities outstanding; provided, however, that no holder
(other than a Purchaser) shall be entitled to be named as a selling
securityholder in the Shelf Registration Statement or to use the prospectus
forming a part thereof for resales of Registrable Securities unless such holder
is an Electing Holder, and (y) after the Effective Time of the Shelf
Registration Statement, promptly upon the request of any holder of Registrable
Securities that is not then an Electing Holder, to take any action reasonably
necessary to enable such holder to use the prospectus forming a part thereof for
resales of Registrable Securities, including, without limitation, any action
necessary to identify such holder as a selling securityholder in the Shelf
Registration Statement, provided, however, that nothing in this clause (y) shall
relieve any such holder of the obligation to return a completed and signed
Notice and Questionnaire to the Issuers in accordance with Section 3(e)(iii)
hereof. The Issuers further agree to supplement or make amendments to the Shelf
Registration Statement, as and when required by the rules, regulations or
instructions applicable to the registration form used by the Issuers for such
Shelf Registration Statement or by the Securities Act for shelf registration,
and the Issuers agree to furnish to each Electing Holder copies of any such
supplement or amendment prior to its being used or promptly following its filing
with the Commission.

                  (c) In the event that (i) the Issuers have not filed the
Exchange Offer Registration Statement or Shelf Registration Statement on or
before the date on which such registration statement is required to be filed
pursuant to Section 2(a) or 2(b), respectively, or (ii) such Exchange Offer
Registration Statement or Shelf Registration Statement has not become effective
or been declared effective by the Commission on or before the date on which such
registration statement is required to become or be declared effective pursuant
to Section 2(a) or 2(b), respectively, or (iii) the Exchange Offer has not been
completed within 30 business days after the initial effective date of the
Exchange Offer Registration Statement relating to the Exchange Offer (if the
Exchange Offer is then required to be made) or (iv) any Exchange Offer
Registration Statement or Shelf Registration Statement required by Section 2(a)
or 2(b) hereof is filed and becomes or is declared effective but shall
thereafter either be withdrawn by the Issuers or shall become subject to an
effective stop order issued pursuant to Section 8(d) of the Securities

                                       5
<PAGE>

Act suspending the effectiveness of such registration statement (except as
specifically permitted herein) without being succeeded immediately by an
additional registration statement filed and declared effective (each such event
referred to in clauses (i) through (iv), a "Registration Default" and each
period during which a Registration Default has occurred and is continuing, a
"Registration Default Period"), then, as liquidated damages for such
Registration Default, subject to the provisions of Section 9(b), special
interest ("Special Interest"), in addition to the Base Interest, shall accrue on
the aggregate principal amount of the outstanding Transfer Restricted Notes (as
defined below) affected by such Registration Default at a per annum rate of
0.25% for the first 90 days of the Registration Default Period, at a per annum
rate of 0.50% for the second 90 days of the Registration Default Period, at a
per annum rate of 0.75% for the third 90 days of the Registration Default Period
and at a per annum rate of 1.00% thereafter for the remaining portion of the
Registration Default Period. All accrued Special Interest shall be paid in cash
by the Issuers on each Interest Payment Date (as defined in the Indenture).
Notwithstanding the foregoing and anything in this Agreement to the contrary, in
the case of an event referred to in clause (ii) above, a "Registration Default"
shall be deemed not to have occurred so long as the Issuers have used and are
continuing to use their reasonable best efforts to cause such Exchange Offer
Registration Statement or Shelf Registration Statement, as the case may be, to
become or be declared effective. For purposes of this Agreement, "Transfer
Restricted Notes" shall mean, with respect to any Registration Default, any
Notes or Exchange Notes which have not ceased being Registrable Securities
pursuant to the definition thereof in Section 1 of this Agreement.

                  (d) If any Purchaser determines that it is not eligible to
participate in the Exchange Offer with respect to the exchange of Registrable
Securities constituting any portion of an unsold allotment, at the request of
such Purchaser, then, subject to any prohibitions or restrictions imposed by any
applicable law or regulations, the Issuers shall use their commercially
reasonable efforts to issue and deliver to such Purchaser, in exchange for such
Registrable Securities, a like principal amount of Exchange Notes. Such issuance
shall not be deemed to be part of the Exchange Offer. The Issuers shall use
their commercially reasonable efforts to cause the CUSIP Service Bureau to issue
the same CUSIP number for Exchange Notes described in this Section 2(d) as for
Exchange Notes issued pursuant to the Exchange Offer. Any such Exchange Notes
shall, at the time of issuance, and subject to the limitations set forth in
Section 1 hereof, constitute Registrable Securities for purposes of this
Agreement (other than Section 2(a) hereof).

                  (e) The Issuers shall use their reasonable best efforts to
take all actions necessary or advisable to be taken by them to ensure that the
transactions contemplated herein are effected as so contemplated in Section 2(a)
or 2(b) hereof.

                  (f) Any reference herein to a registration statement as of any
time shall be deemed to include any document incorporated, or deemed to be
incorporated, therein by reference as of such time and any reference herein to
any post-effective amendment to a registration statement as of any time shall be
deemed to include any document incorporated, or deemed to be incorporated,
therein by reference as of such time.

         3. Registration Procedures.

         If the Issuers file a registration statement pursuant to Section 2(a)
or Section 2(b), the following provisions shall apply:

                  (a) At or before the Effective Time of the Exchange Offer or
the Shelf Registration, as the case may be, the Issuers shall cause the
Indenture to be qualified under the Trust Indenture Act of 1939.

                                       6
<PAGE>

                  (b) In the event that such qualification would require the
appointment of a new trustee under the Indenture, the Issuers shall appoint a
new trustee thereunder pursuant to the applicable provisions of the Indenture.

                  (c) In connection with the Issuers' obligations with respect
to the registration of Exchange Notes as contemplated by Section 2(a) (the
"Exchange Offer Registration"); if applicable, the Issuers shall, as soon as
practicable (or as otherwise specified):

                           (i) prepare and file with the Commission, as soon as
                  practicable but no later than 90 days after the Closing Date,
                  an Exchange Offer Registration Statement on any form which may
                  be utilized by the Issuers and which shall permit the Exchange
                  Offer and resales of Exchange Notes by broker-dealers during
                  the Resale Period to be effected as contemplated by Section
                  2(a), and use their reasonable best efforts to cause such
                  Exchange Offer Registration Statement to become or be declared
                  effective as soon as practicable thereafter, but no later than
                  210 days after the Closing Date;

                           (ii) as soon as practicable prepare and file with the
                  Commission such amendments and supplements to such Exchange
                  Offer Registration Statement and the prospectus included
                  therein as may be necessary to effect and maintain the
                  effectiveness of such Exchange Offer Registration Statement
                  for the periods and purposes contemplated in Section 2(a)
                  hereof and as may be required by the applicable rules and
                  regulations of the Commission and the instructions applicable
                  to the form of such Exchange Offer Registration Statement, and
                  promptly provide each broker-dealer holding Exchange Notes
                  with such number of copies of the prospectus included therein
                  (as then amended or supplemented), in conformity in all
                  material respects with the requirements of the Securities Act
                  and the Trust Indenture Act, as such broker-dealer reasonably
                  may request prior to the expiration of the Resale Period, for
                  use in connection with resales of Exchange Notes;

                           (iii) promptly notify the Purchasers, and each
                  broker-dealer that has requested or received copies of the
                  prospectus included in such registration statement, and
                  confirm such advice in writing, (A) when such Exchange Offer
                  Registration Statement or the prospectus included therein or
                  any prospectus amendment or supplement or post-effective
                  amendment has been filed, and, with respect to such Exchange
                  Offer Registration Statement or any post-effective amendment,
                  when the same has become effective, (B) of any comments by the
                  Commission and by the blue sky or securities commissioner or
                  regulator of any state with respect thereto, or any request by
                  the Commission for amendments or supplements to such Exchange
                  Offer Registration Statement or prospectus or for additional
                  information, (C) of the issuance by the Commission of any stop
                  order suspending the effectiveness of such Exchange Offer
                  Registration Statement or the initiation or, to the knowledge
                  of the Issuers, threatening of any proceedings for that
                  purpose, (D) if at any time the representations and warranties
                  of the Issuers contemplated by Section 5 hereof cease to be
                  true and correct in all material respects, (E) of the receipt
                  by the Issuers of any notification with respect to the
                  suspension of the qualification of the Exchange Notes for sale
                  in any jurisdiction or the initiation or, to the knowledge of
                  the Issuers, threatening of any proceeding for such purpose,
                  or (F) at any time during the Resale Period when a prospectus
                  is required to be delivered under the Securities Act, that
                  such

                                       7
<PAGE>

                  Exchange Offer Registration Statement, prospectus, prospectus
                  amendment or supplement or post-effective amendment does not
                  conform in all material respects to the applicable
                  requirements of the Securities Act and the Trust Indenture
                  Act, or contains an untrue statement of a material fact or
                  omits to state any material fact required to be stated therein
                  or necessary to make the statements therein not misleading in
                  light of the circumstances then existing;

                           (iv) in the event that the Issuers would be required,
                  pursuant to Section 3(c)(iii)(F) above, to notify the
                  Purchasers and any broker-dealers holding Exchange Notes, the
                  Issuers shall prepare and furnish to each such holder a
                  reasonable number of copies of a prospectus supplemented or
                  amended so that, as thereafter delivered to purchasers of such
                  Exchange Notes during the Resale Period, such prospectus
                  conforms in all material respects to the applicable
                  requirements of the Securities Act and the Trust Indenture Act
                  and shall not contain an untrue statement of a material fact
                  or omit to state a material fact required to be stated therein
                  or necessary to make the statements therein not misleading in
                  light of the circumstances then existing;

                           (v) use their reasonable best efforts to obtain the
                  withdrawal of any order suspending the effectiveness of such
                  Exchange Offer Registration Statement or any post-effective
                  amendment thereto as soon as practicable;

                           (vi) use their reasonable best efforts to (A)
                  register or qualify the Exchange Notes under the securities
                  laws or blue sky laws of such jurisdictions as are
                  contemplated by Section 2(a) no later than the commencement of
                  the Exchange Offer, (B) keep such registrations or
                  qualifications in effect and comply with such laws so as to
                  permit the continuance of offers, sales and dealings therein
                  in such jurisdictions until the expiration of the Resale
                  Period and (C) take any and all other actions as may be
                  reasonably necessary or advisable to enable each broker-dealer
                  holding Exchange Notes to consummate the disposition thereof
                  in such jurisdictions; provided, however, that neither of the
                  Issuers shall be required for any such purpose to (1) qualify
                  as a foreign corporation or limited liability company, as the
                  case may be, in any jurisdiction wherein it would not
                  otherwise be required to qualify but for the requirements of
                  this Section 3(c)(vi), (2) consent to general service of
                  process in any such jurisdiction or (3) make any changes to
                  its certificate of incorporation or by-laws (or other
                  organizational document) or any agreement between it and
                  holders of its ownership interests;

                           (vii) use their reasonable best efforts to obtain the
                  consent or approval of each governmental agency or authority,
                  whether federal, state or local, which may be required to
                  effect the Exchange Offer Registration, the Exchange Offer and
                  the offering and sale of Exchange Notes by broker-dealers
                  during the Resale Period;

                           (viii) provide a CUSIP number for all Exchange Notes,
                  not later than the applicable Effective Time;

                           (ix) comply with all applicable rules and regulations
                  of the Commission, and make generally available to their
                  securityholders as soon as practicable but no later than
                  eighteen months after the effective date of such

                                       8
<PAGE>

                  Exchange Offer Registration Statement, an earning statement of
                  the Company and its subsidiaries complying with Section 11(a)
                  of the Securities Act (including, at the option of the
                  Company, Rule 158 thereunder);

                           (x) mail to each holder a copy of the prospectus
                  forming part of the Exchange Offer Registration Statement,
                  together with an appropriate letter of transmittal and related
                  documents;

                           (xi) utilize the services of a depositary for the
                  Exchange Offer with an address in the Borough of Manhattan in
                  New York City, which may be the Trustee, any new trustee under
                  the Indenture, or an affiliate of any of them;

                           (xii) permit holders to withdraw tendered Notes at
                  any time prior to the close of business, New York time, on the
                  last business day on which the Exchange Offer is open;

                           (xiii) prior to the Effective Time, provide a
                  supplemental letter to the Commission (i) stating that the
                  Issuers are conducting the Exchange Offer in reliance on the
                  position of the Commission in Exxon Capital Holdings
                  Corporation (pub. avail. May 13, 1988), Morgan Stanley and
                  Co., Inc. (pub. avail. June 5, 1991); and (ii) including a
                  representation that the Issuers have not entered into any
                  arrangement or understanding with any person to distribute the
                  Exchange Notes to be received in the Exchange Offer and that,
                  to the best of the Issuers' information and belief, each
                  holder participating in the Exchange Offer is acquiring the
                  Exchange Notes in the ordinary course of business and has no
                  arrangement or understanding with any person to participate in
                  the distribution of the Exchange Notes;

                           (xiv) provide the Representatives, in advance of
                  filing thereof with the Commission, a draft of such Exchange
                  Offer Registration Statement substantially in the form to be
                  filed with the Commission, each prospectus included therein or
                  filed with the Commission and each amendment or supplement
                  thereto (including any documents incorporated by reference
                  therein after the initial filing), and shall use their
                  commercially reasonable efforts to reflect in each such
                  document, when so filed with the Commission, such comments as
                  are reasonably proposed;

                           (xv) if requested by a Purchaser, promptly
                  incorporate in the prospectus contained in the Exchange Offer
                  Registration Statement such information as is required by the
                  applicable rules and regulations of the Commission, and as
                  such Purchaser specifies should be included therein relating
                  to the terms of the sale of such Registrable Securities,
                  including, without limitation, information (i) with respect to
                  the principal amount of Registrable Securities being sold by
                  such Purchaser, the name and description of such Purchaser,
                  agent or underwriter, the offering price of such Registrable
                  Securities, and any discount, commission or other compensation
                  payable in respect thereof and the purchase price being paid
                  therefor by such underwriters and (ii) with respect to any
                  other material terms of the offering of the Registrable
                  Securities to be sold by such Purchaser; and make all required
                  filings of such prospectus supplement or post-effective
                  amendment upon notification of the matters to be incorporated
                  in such prospectus supplement or post-effective amendment; and

                                       9
<PAGE>

                           (xvi) for a reasonable period prior to the filing of
                  such Exchange Offer Registration Statement, make available at
                  reasonable times at the Issuers' principal place of business,
                  or such other reasonable place for inspection by Purchasers
                  such financial and other relevant information and books and
                  records of the Issuers, each of their subsidiaries and, as
                  relevant, Parent Companies (as defined herein), and cause each
                  of their officers, employees, counsel and independent
                  certified public accountants, to supply all relevant
                  information and to respond to such inquiries, as shall be
                  reasonably necessary, in the judgment of the Purchasers'
                  counsel, to conduct a reasonable investigation within the
                  meaning of Section 11 of the Securities Act; provided,
                  however, that each such party shall be required to maintain in
                  confidence and not to disclose to any other person any
                  information or records reasonably designated by the Issuers as
                  being confidential, until such time as (A) such information
                  becomes a matter of public record (whether by virtue of its
                  inclusion in such registration statement or otherwise, except
                  as a result of a breach of this or any other obligation of
                  confidentiality to the Issuers), or (B) such person shall be
                  required so to disclose such information pursuant to a
                  subpoena or order of any court or other governmental agency or
                  body having jurisdiction over the matter (subject to the
                  requirements of such order, and only after such person shall
                  have given the Issuers prompt prior written notice of such
                  requirement), or (C) such information is required to be set
                  forth in such Exchange Offer Registration Statement or the
                  prospectus included therein or in an amendment to such
                  Exchange Offer Registration Statement or an amendment or
                  supplement to such prospectus in order that such Exchange
                  Offer Registration Statement, prospectus, amendment or
                  supplement, as the case may be, complies with applicable
                  requirements of the federal securities laws and the rules and
                  regulations of the Commission and does not contain an untrue
                  statement of a material fact or omit to state therein a
                  material fact required to be stated therein or necessary to
                  make the statements therein not misleading in light of the
                  circumstances then existing, provided further, however, that
                  notwithstanding anything to the contrary in this clause (xvi),
                  any such person (and each employee, representative, or other
                  agent of such person) may disclose to any and all persons,
                  without limitation, the U.S. tax treatment and any facts that
                  may be relevant to the tax structure of the matters covered by
                  and relating to this Agreement (including opinions or other
                  tax analysis that are provided to such party relating to such
                  tax treatment and tax structure); provided, however, that no
                  person (and no employee, representative, or other agent of any
                  person) shall disclose any other information that is not
                  relevant to understanding the tax treatment and tax structure
                  of the matters covered by and relating to this Agreement
                  (including the identity of any party and any information that
                  could lead another to determine the identity of any party), or
                  any other information to the extent that such non-disclosure
                  is reasonably necessary in order to comply with applicable
                  securities law.

                  (d) As soon as practicable after the close of the Exchange
Offer, the Issuers shall:

                           (i) accept for exchange all Registrable Securities
                  tendered and not validly withdrawn pursuant to the Exchange
                  Offer;

                           (ii) deliver to the Trustee for cancellation all
                  Notes so accepted for exchange; and

                                       10
<PAGE>

                           (iii) cause the Trustee promptly to authenticate and
                  deliver to each holder a principal amount of Exchange Notes
                  equal to the principal amount of the Registrable Securities of
                  such Holder so accepted for exchange.

                  (e) In connection with the Issuers' obligations with respect
to the Shelf Registration, if applicable, the Issuers shall, as soon as
practicable (or as otherwise specified):

                           (i) prepare and file with the Commission within the
                  time periods specified in Section 2(b), a Shelf Registration
                  Statement on any form which may be utilized by the Issuers and
                  which shall register all the Registrable Securities for resale
                  by the holders thereof in accordance with such method or
                  methods of disposition as may be specified by such of the
                  holders as, from time to time, may be Electing Holders and use
                  their reasonable best efforts to cause such Shelf Registration
                  Statement to become or be declared effective within the time
                  periods specified in Section 2(b);

                           (ii) not less than 30 calendar days prior to the
                  Effective Time of the Shelf Registration Statement, mail the
                  Notice and Questionnaire to the holders of Registrable
                  Securities; no holder shall be entitled to be named as a
                  selling securityholder in the Shelf Registration Statement as
                  of the Effective Time, and no holder shall be entitled to use
                  the prospectus forming a part thereof for resales of
                  Registrable Securities at any time, unless such holder has
                  returned a completed and signed Notice and Questionnaire to
                  the Issuers by the deadline for response set forth therein;
                  provided, however, holders of Registrable Securities shall
                  have at least 28 calendar days from the date on which the
                  Notice and Questionnaire is first mailed to such holders to
                  return a completed and signed Notice and Questionnaire to the
                  Issuers;

                           (iii) after the Effective Time of the Shelf
                  Registration Statement, upon the request of any holder of
                  Registrable Securities that is not then an Electing Holder,
                  promptly send a Notice and Questionnaire to such holder;
                  provided that the Issuers shall not be required to take any
                  action to name such holder as a selling securityholder in the
                  Shelf Registration Statement or to enable such holder to use
                  the prospectus forming a part thereof for resales of
                  Registrable Securities until such holder has returned a
                  completed and signed Notice and Questionnaire to the Issuers;

                           (iv) as soon as practicable prepare and file with the
                  Commission such amendments and supplements to such Shelf
                  Registration Statement and the prospectus included therein as
                  may be necessary to effect and maintain the effectiveness of
                  such Shelf Registration Statement for the period specified in
                  Section 2(b) and as may be required by the applicable rules
                  and regulations of the Commission and the instructions
                  applicable to the form of such Shelf Registration Statement,
                  and furnish to the Electing Holders copies of any such
                  supplement or amendment simultaneously with or prior to its
                  being used or filed with the Commission;

                           (v) comply with the provisions of the Securities Act
                  with respect to the disposition of all the Registrable
                  Securities covered by such Shelf Registration Statement in
                  accordance with the intended methods of disposition by the
                  Electing Holders provided for in such Shelf Registration
                  Statement;

                                       11
<PAGE>

                           (vi) provide (A) the Electing Holders, (B) the
                  underwriters (which term, for purposes of this Exchange and
                  Registration Rights Agreement, shall include a person deemed
                  to be an underwriter within the meaning of Section 2(a)(11) of
                  the Securities Act), if any, thereof, (C) any sales or
                  placement agent therefor, (D) counsel for any such underwriter
                  or agent, (E) not more than one counsel for all the Electing
                  Holders and (F) the Representatives, in advance of filing
                  thereof with the Commission, a draft of such Shelf
                  Registration Statement, each prospectus included therein or
                  filed with the Commission and each amendment or supplement
                  thereto (including any documents incorporated by reference
                  therein after the initial filing), in each case in
                  substantially the form to be filed with the Commission, and
                  shall use their commercially reasonable efforts to reflect in
                  each such document, when so filed with the Commission, such
                  comments as are reasonably proposed;

                           (vii) for a reasonable period prior to the filing of
                  such Shelf Registration Statement, and throughout the period
                  specified in Section 2(b), make available at reasonable times
                  at the Issuers' principal place of business, or such other
                  reasonable place for inspection by the persons referred to in
                  Section 3(e)(vi) who shall certify to the Issuers that they
                  have a current intention to sell the Registrable Securities
                  pursuant to the Shelf Registration such financial and other
                  relevant information and books and records of the Issuers,
                  each of their subsidiaries and, as relevant, Parent Companies,
                  and cause each of their officers, employees, counsel and
                  independent certified public accountants to supply all
                  relevant information and to respond to such inquiries, as
                  shall be reasonably necessary, in the judgment of the
                  respective counsel referred to in such Section, to conduct a
                  reasonable investigation within the meaning of Section 11 of
                  the Securities Act; provided, however, that each such party
                  shall be required to maintain in confidence and not to
                  disclose to any other person any information or records
                  reasonably designated by the Issuers as being confidential,
                  until such time as (A) such information becomes a matter of
                  public record (whether by virtue of its inclusion in such
                  registration statement or otherwise, except as a result of a
                  breach of this or any other obligation of confidentiality to
                  the Issuers), or (B) such person shall be required so to
                  disclose such information pursuant to a subpoena or order of
                  any court or other governmental agency or body having
                  jurisdiction over the matter (subject to the requirements of
                  such order, and only after such person shall have given the
                  Issuers prompt prior written notice of such requirement), or
                  (C) such information is required to be set forth in such Shelf
                  Registration Statement or the prospectus included therein or
                  in an amendment to such Shelf Registration Statement or an
                  amendment or supplement to such prospectus in order that such
                  Shelf Registration Statement, prospectus, amendment or
                  supplement, as the case may be, complies with applicable
                  requirements of the federal securities laws and the rules and
                  regulations of the Commission and does not contain an untrue
                  statement of a material fact or omit to state therein a
                  material fact required to be stated therein or necessary to
                  make the statements therein not misleading in light of the
                  circumstances then existing, provided further, however, that
                  notwithstanding anything to the contrary in this clause (vii),
                  any such person (and each employee, representative, or other
                  agent of such person) may disclose to any and all persons,
                  without limitation, the U.S. tax treatment and any facts that
                  may be relevant to the tax structure of the matters covered by
                  and relating to this Agreement (including opinions or other
                  tax analysis that are provided to such party relating to such
                  tax treatment and tax

                                       12
<PAGE>

                  structure); provided, however, that no person (and no
                  employee, representative, or other agent of any person) shall
                  disclose any other information that is not relevant to
                  understanding the tax treatment and tax structure of the
                  matters covered by and relating to this Agreement (including
                  the identity of any party and any information that could lead
                  another to determine the identity of any party), or any other
                  information to the extent that such non-disclosure is
                  reasonably necessary in order to comply with applicable
                  securities law;

                           (viii) promptly notify each of the Purchasers, the
                  Electing Holders, any sales or placement agent therefor and
                  any underwriter thereof (which notification may be made
                  through any managing underwriter that is a representative of
                  such underwriter for such purpose) and confirm such advice in
                  writing, (A) when such Shelf Registration Statement or the
                  prospectus included therein or any prospectus amendment or
                  supplement or post-effective amendment has been filed, and,
                  with respect to such Shelf Registration Statement or any
                  post-effective amendment, when the same has become effective,
                  (B) of any comments by the Commission and by the blue sky or
                  securities commissioner or regulator of any state with respect
                  thereto, or any request by the Commission for amendments or
                  supplements to such Shelf Registration Statement or prospectus
                  or for additional information, (C) of the issuance by the
                  Commission of any stop order suspending the effectiveness of
                  such Shelf Registration Statement or the initiation or, to the
                  knowledge of the Issuers, threatening of any proceedings for
                  that purpose, (D) if at any time the representations and
                  warranties of the Issuers contemplated by Section 3(e)(xvii)
                  or Section 5 hereof cease to be true and correct in all
                  material respects, (E) of the receipt by the Issuers of any
                  notification with respect to the suspension of the
                  qualification of the Registrable Securities for sale in any
                  jurisdiction or the initiation or, to the knowledge of the
                  Issuers, threatening of any proceeding for such purpose, or
                  (F) if at any time when a prospectus is required to be
                  delivered under the Securities Act, that such Shelf
                  Registration Statement, prospectus, prospectus amendment or
                  supplement or post-effective amendment does not conform in all
                  material respects to the applicable requirements of the
                  Securities Act and the Trust Indenture Act, or contains an
                  untrue statement of a material fact or omits to state any
                  material fact required to be stated therein or necessary to
                  make the statements therein not misleading in light of the
                  circumstances then existing;

                           (ix) use their reasonable best efforts to obtain the
                  withdrawal of any order suspending the effectiveness of such
                  Shelf Registration Statement or any post-effective amendment
                  thereto as soon as practicable;

                           (x) if requested by any managing underwriter or
                  underwriters, any placement or sales agent or any Electing
                  Holder, promptly incorporate in a prospectus supplement or
                  post-effective amendment such information as is required by
                  the applicable rules and regulations of the Commission, and as
                  such managing underwriter or underwriters, such agent or such
                  Electing Holder specifies should be included therein relating
                  to the terms of the sale of such Registrable Securities,
                  including, without limitation, information (i) with respect to
                  the principal amount of Registrable Securities being sold by
                  such Electing Holder or agent or to any underwriters, the name
                  and description of such Electing Holder, agent or underwriter,
                  the offering price of such Registrable Securities, and any
                  discount, commission or other compensation payable in respect
                  thereof

                                       13
<PAGE>

                  and the purchase price being paid therefor by such
                  underwriters and (ii) with respect to any other material terms
                  of the offering of the Registrable Securities to be sold by
                  such Electing Holder or agent or to such underwriters; and
                  make all required filings of such prospectus supplement or
                  post-effective amendment upon notification of the matters to
                  be incorporated in such prospectus supplement or
                  post-effective amendment;

                           (xi) furnish to each Electing Holder, each placement
                  or sales agent, if any, therefor, each underwriter, if any,
                  thereof and the respective counsel referred to in Section
                  3(e)(vi) hereof an executed copy (or, in the case of an
                  Electing Holder, a conformed copy) of such Shelf Registration
                  Statement, each such amendment and supplement thereto (in each
                  case including all exhibits thereto (in the case of an
                  Electing Holder of Registrable Securities, upon request) and
                  documents incorporated by reference therein) and such number
                  of copies of such Shelf Registration Statement (excluding
                  exhibits thereto and documents incorporated by reference
                  therein unless specifically so requested by such Electing
                  Holder, agent or underwriter, as the case may be) and of the
                  prospectus included in such Shelf Registration Statement
                  (including, without limitation, each preliminary prospectus
                  and any summary prospectus), in conformity in all material
                  respects with the applicable requirements of the Securities
                  Act and the Trust Indenture Act, and such other documents, as
                  such Electing Holder, agent, if any, and underwriter, if any,
                  may reasonably request in order to facilitate the offering and
                  disposition of the Registrable Securities owned by such
                  Electing Holder, offered or sold by such agent or underwritten
                  by such underwriter and to permit such Electing Holder, agent
                  and underwriter to satisfy the prospectus delivery
                  requirements of the Securities Act; and the Issuers hereby
                  consent to the use of such prospectus (including, without
                  limitation, such preliminary and summary prospectus) and any
                  amendment or supplement thereto by each such Electing Holder
                  and by any such agent and underwriter, in each case in the
                  form most recently provided to such person by the Issuers, in
                  connection with the offering and sale of the Registrable
                  Securities covered by the prospectus (including, without
                  limitation, such preliminary and summary prospectus) or any
                  supplement or amendment thereto;

                           (xii) use their reasonable best efforts to (A)
                  register or qualify the Registrable Securities to be included
                  in such Shelf Registration Statement under such securities
                  laws or blue sky laws of such jurisdictions as any Electing
                  Holder and each placement or sales agent, if any, therefor and
                  underwriter, if any, thereof shall reasonably request, (B)
                  keep such registrations or qualifications in effect and comply
                  with such laws so as to permit the continuance of offers,
                  sales and dealings therein in such jurisdictions during the
                  period the Shelf Registration is required to remain effective
                  under Section 2(b) above and for so long as may be necessary
                  to enable any such Electing Holder, agent or underwriter to
                  complete its distribution of Notes pursuant to such Shelf
                  Registration Statement and (C) take any and all other actions
                  as may be reasonably necessary or advisable to enable each
                  such Electing Holder, agent, if any, and underwriter, if any,
                  to consummate the disposition in such jurisdictions of such
                  Registrable Securities; provided, however, that none of the
                  Issuers shall be required for any such purpose to (1) qualify
                  as a foreign corporation or limited liability company, as the
                  case may be, in any jurisdiction wherein it would not
                  otherwise be required to qualify but for the requirements of
                  this Section 3(d)(xii), (2) consent to general

                                       14
<PAGE>

                  service of process in any such jurisdiction or (3) make any
                  changes to its certificate of incorporation or by-laws (or
                  other organizational document) or any agreement between it and
                  holders of its ownership interests;

                           (xiii) use their reasonable best efforts to obtain
                  the consent or approval of each governmental agency or
                  authority, whether federal, state or local, which may be
                  required to effect the Shelf Registration or the offering or
                  sale in connection therewith or to enable the selling holder
                  or holders to offer, or to consummate the disposition of,
                  their Registrable Securities;

                           (xiv) unless any Registrable Securities shall be in
                  book-entry only form, cooperate with the Electing Holders and
                  the managing underwriters, if any, to facilitate the timely
                  preparation and delivery of certificates representing
                  Registrable Securities to be sold, which certificates, if so
                  required by any securities exchange upon which any Registrable
                  Securities are listed, shall be penned, lithographed or
                  engraved, or produced by any combination of such methods, on
                  steel engraved borders, and which certificates shall not bear
                  any restrictive legends; and, in the case of an underwritten
                  offering, enable such Registrable Securities to be in such
                  denominations and registered in such names as the managing
                  underwriters may request at least two business days prior to
                  any sale of the Registrable Securities;

                           (xv) provide a CUSIP number for all Registrable
                  Securities, not later than the applicable Effective Time;

                           (xvi) enter into one or more underwriting agreements,
                  engagement letters, agency agreements, "best efforts"
                  underwriting agreements or similar agreements, as appropriate,
                  including customary provisions relating to indemnification and
                  contribution (but no less favorable than those set forth in
                  Section 6 with respect to all parties indemnified under
                  Section 6), unless such provisions are acceptable to Electing
                  Holders of at least 50% in aggregate principal amount and any
                  managing underwriters, and take such other actions in
                  connection therewith as any Electing Holders of at least 20%
                  in aggregate principal amount of the Registrable Securities at
                  the time outstanding shall request in order to expedite or
                  facilitate the disposition of such Registrable Securities;

                           (xvii) whether or not an agreement of the type
                  referred to in Section 3(e)(xvi) hereof is entered into, and
                  whether or not any portion of the offering contemplated by the
                  Shelf Registration is an underwritten offering or is made
                  through a placement or sales agent or any other entity, (A)
                  make such representations and warranties to the Electing
                  Holders and the placement or sales agent, if any, therefor and
                  the underwriters, if any, thereof in form, substance and scope
                  as are customarily made in connection with an offering of debt
                  securities pursuant to any appropriate agreement or to a
                  registration statement filed on the form applicable to the
                  Shelf Registration; (B) obtain an opinion of counsel to the
                  Issuers in customary form, subject to customary limitations,
                  assumptions and exclusions, and covering such matters, of the
                  type customarily covered by such an opinion, as the managing
                  underwriters, if any, or as any Electing Holders of at least
                  20% in aggregate principal amount of the Registrable
                  Securities at the time outstanding may reasonably request,
                  addressed to such Electing Holder or

                                       15
<PAGE>

                  Electing Holders and the placement or sales agent, if any,
                  therefor and the underwriters, if any, thereof and dated the
                  date of the Effective Time of such Shelf Registration
                  Statement (and if such Shelf Registration Statement
                  contemplates an underwritten offering of a part or all of the
                  Registrable Securities, dated the date of the closing under
                  the underwriting agreement relating thereto) (it being agreed
                  that the matters to be covered by such opinion shall include
                  the matters set forth in paragraphs (b), (c) and (d) of
                  Section 7 of the Purchase Agreement to the extent applicable
                  to an offering of this type); (C) obtain a "cold comfort"
                  letter or letters from the independent certified public
                  accountants of the Issuers addressed to the selling Electing
                  Holders, the placement or sales agent, if any, therefor or the
                  underwriters, if any, thereof, dated (i) the effective date of
                  such Shelf Registration Statement and (ii) the effective date
                  of any prospectus supplement to the prospectus included in
                  such Shelf Registration Statement or post-effective amendment
                  to such Shelf Registration Statement which includes unaudited
                  or audited financial statements as of a date or for a period
                  subsequent to that of the latest such statements included in
                  such prospectus (and, if such Shelf Registration Statement
                  contemplates an underwritten offering pursuant to any
                  prospectus supplement to the prospectus included in such Shelf
                  Registration Statement or post-effective amendment to such
                  Shelf Registration Statement which includes unaudited or
                  audited financial statements as of a date or for a period
                  subsequent to that of the latest such statements included in
                  such prospectus, dated the date of the closing under the
                  underwriting agreement relating thereto), such letter or
                  letters to be in customary form and covering such matters of
                  the type customarily covered by letters of such type; (D)
                  deliver such documents and certificates, including, without
                  limitation, officers' certificates, as may be reasonably
                  requested by any Electing Holders of at least 20% in aggregate
                  principal amount of the Registrable Securities at the time
                  outstanding or the placement or sales agent, if any, therefor
                  and the managing underwriters, if any, thereof to evidence the
                  accuracy of the representations and warranties made pursuant
                  to clause (A) above or those contained in Section 5(a) hereof
                  and the compliance with or satisfaction of any agreements or
                  conditions contained in the underwriting agreement or other
                  similar agreement entered into by the Issuers pursuant to
                  Section 3(e)(xvi); and (E) undertake such obligations relating
                  to expense reimbursement, indemnification and contribution as
                  are provided in Section 6 hereof;

                           (xviii) notify in writing each holder of Registrable
                  Securities of any proposal by the Issuers to amend or waive
                  any provision of this Exchange and Registration Rights
                  Agreement pursuant to Section 9(h) hereof and of any amendment
                  or waiver effected pursuant thereto, each of which notices
                  shall contain the substance of the amendment or waiver
                  proposed or effected, as the case may be;

                           (xix) in the event that any broker-dealer registered
                  under the Exchange Act shall underwrite any Registrable
                  Securities or participate as a member of an underwriting
                  syndicate or selling group or "assist in the distribution"
                  (within the meaning of the Conduct Rules (the "Conduct Rules")
                  of the National Association of Securities Dealers, Inc.
                  ("NASD") or any successor thereto, as amended from time to
                  time) thereof, whether as a holder of such Registrable
                  Securities or as an underwriter, a placement or sales agent or
                  a broker or dealer in respect thereof, or otherwise, assist
                  such broker-dealer in complying with the

                                       16
<PAGE>

                  requirements of such Conduct Rules, including, without
                  limitation, by (A) if such Conduct Rules shall so require,
                  engaging a "qualified independent underwriter" (as defined in
                  such Conduct Rules) to participate in the preparation of the
                  Shelf Registration Statement relating to such Registrable
                  Securities, to exercise usual standards of due diligence in
                  respect thereto and, if any portion of the offering
                  contemplated by such Shelf Registration Statement is an
                  underwritten offering or is made through a placement or sales
                  agent, to recommend the yield of such Registrable Securities,
                  (B) indemnifying any such qualified independent underwriter to
                  the extent of the indemnification of underwriters provided in
                  Section 6 hereof (or to such other customary extent as may be
                  requested by such underwriter), and (C) providing such
                  information to such broker-dealer as may be required in order
                  for such broker-dealer to comply with the requirements of the
                  Conduct Rules; and

                           (xx) comply with all applicable rules and regulations
                  of the Commission, and make generally available to its
                  securityholders as soon as practicable but in any event not
                  later than eighteen months after the effective date of such
                  Shelf Registration Statement, an earning statement of the
                  Company and its subsidiaries complying with Section 11(a) of
                  the Securities Act (including, at the option of the Company,
                  Rule 158 thereunder).

                  (f) In the event that the Issuers would be required, pursuant
to Section 3(e)(viii)(F) hereof, to notify the Electing Holders, the placement
or sales agent, if any, therefor and the managing underwriters, if any, thereof,
the Issuers shall prepare and furnish to each of the Electing Holders, to each
placement or sales agent, if any, and to each such underwriter, if any, a
reasonable number of copies of a prospectus supplemented or amended so that, as
thereafter delivered to purchasers of Registrable Securities, such prospectus
conforms in all material respects to the applicable requirements of the
Securities Act and the Trust Indenture Act, and shall not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing. Each Electing Holder agrees that upon
receipt of any notice from the Issuers pursuant to Section 3(e)(viii)(F) hereof,
such Electing Holder shall forthwith discontinue the disposition of Registrable
Securities pursuant to the Shelf Registration Statement applicable to such
Registrable Securities until such Electing Holder shall have received copies of
such amended or supplemented prospectus, and if so directed by the Issuers, such
Electing Holder shall deliver to the Issuers (at the Issuers' expense) all
copies, other than permanent file copies, then in such Electing Holder's
possession of the prospectus covering such Registrable Securities at the time of
receipt of such notice.

                  (g) In the event of a Shelf Registration, in addition to the
information required to be provided by each Electing Holder in its Notice and
Questionnaire, the Issuers may require such Electing Holder to furnish to the
Issuers such additional information regarding such Electing Holder and such
Electing Holder's intended method of distribution of Registrable Securities as
may be required in order to comply with the Securities Act. Each such Electing
Holder agrees to notify the Issuers as promptly as practicable of any inaccuracy
or change in information previously furnished by such Electing Holder to the
Issuers or of the occurrence of any event in either case as a result of which
any prospectus relating to such Shelf Registration contains or would contain an
untrue statement of a material fact regarding such Electing Holder or such
Electing Holder's intended method of disposition of such Registrable Securities
or omits to state any material fact regarding such Electing Holder or such
Electing Holder's intended method of disposition of such Registrable Securities
required to be stated therein or necessary to

                                       17
<PAGE>

make the statements therein not misleading in light of the circumstances then
existing, and promptly to furnish to the Issuers any additional information
required to correct and update any previously furnished information or required
so that such prospectus shall not contain, with respect to such Electing Holder
or the disposition of such Registrable Securities, an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the
circumstances then existing.

         4. Registration Expenses.

         The Issuers agree, subject to the last sentence of this Section 4, to
bear and to pay or cause to be paid promptly all expenses incident to the
Issuers' performance of or compliance with this Exchange and Registration Rights
Agreement, including, without limitation, (a) all Commission and any NASD
registration, filing and review fees and expenses including, without limitation,
fees and disbursements of counsel for the placement or sales agent or
underwriters in connection with such registration, filing and review, (b) all
fees and expenses in connection with the qualification of the Notes for offering
and sale under the securities laws and blue sky laws referred to in Section
3(e)(xii) hereof and determination of their eligibility for investment under the
laws of such jurisdictions as any managing underwriters or the Electing Holders
may designate, including, without limitation, any fees and disbursements of
counsel for the Electing Holders or underwriters in connection with such
qualification and determination, (c) all expenses relating to the preparation,
printing, production, distribution and reproduction of each registration
statement required to be filed hereunder, each prospectus included therein or
prepared for distribution pursuant hereto, each amendment or supplement to the
foregoing, the expenses of preparing the Notes for delivery and the expenses of
printing or producing any underwriting agreements, agreements among
underwriters, selling agreements and blue sky or legal investment memoranda and
all other documents in connection with the offering, sale or delivery of Notes
to be disposed of (including, without limitation, certificates representing the
Notes), (d) messenger, telephone and delivery expenses relating to the offering,
sale or delivery of Notes and the preparation of documents referred in clause
(c) above, (e) fees and expenses of the Trustee under the Indenture, any agent
of the Trustee and any reasonable fees and expenses for counsel for the Trustee
and of any collateral agent or custodian, (f) internal expenses (including,
without limitation, all salaries and expenses of the Issuers' officers and
employees performing legal or accounting duties), (g) fees, disbursements and
expenses of counsel and independent certified public accountants of the Issuers
(including, without limitation, the expenses of any opinions or "cold comfort"
letters required by or incident to such performance and compliance), (h) fees,
disbursements and expenses of any "qualified independent underwriter" engaged
pursuant to Section 3(e)(xix) hereof, (i) reasonable fees, disbursements and
expenses of one counsel for the Electing Holders retained in connection with a
Shelf Registration, as selected by the Electing Holders of at least a majority
in aggregate principal amount of the Registrable Securities held by Electing
Holders (which counsel shall be reasonably satisfactory to the Issuers), (j) any
fees charged by securities rating services for rating the Notes, and (k)
reasonable fees, expenses and disbursements of any other persons, including,
without limitation, special experts, retained by the Issuers in connection with
such registration (collectively, the "Registration Expenses"). To the extent
that any Registration Expenses are incurred, assumed or paid by any holder of
Registrable Securities or any placement or sales agent therefor or underwriter
thereof, the Issuers shall reimburse such person for the full amount of the
Registration Expenses so incurred, assumed or paid promptly after receipt of a
request therefor. Notwithstanding the foregoing, the holders of the Registrable
Securities being registered shall pay all agency fees and commissions and
underwriting discounts and commissions attributable to the sale of such
Registrable Securities

                                       18
<PAGE>

and the fees and disbursements of any counsel or other advisors or experts
retained by such holders (severally or jointly), other than the counsel and
experts specifically referred to above.

         5. Representations, Warranties and Covenants.

         Except with respect to clauses (a) and (b) below, the Issuers represent
and warrant to, and agree with, each Purchaser and each of the holders from time
to time of Registrable Securities the information set forth in this Section 5.

         With respect to clauses (a) and (b) below, the Issuers covenant that:

                  (a) Each registration statement covering Registrable
Securities and each prospectus (including, without limitation, any preliminary
or summary prospectus) contained therein or furnished pursuant to Section 3(e)
or Section 3(c) hereof and any further amendments or supplements to any such
registration statement or prospectus, when it becomes effective or is filed with
the Commission, as the case may be, and, in the case of an underwritten offering
of Registrable Securities, at the time of the closing under the underwriting
agreement relating thereto, will conform in all material respects to the
requirements of the Securities Act and the Trust Indenture Act and will not
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading; and at all times subsequent to the Effective Time when a prospectus
would be required to be delivered under the Securities Act, other than from (i)
such time as a notice has been given to holders of Registrable Securities
pursuant to Section 3(e)(viii)(F) or Section 3(c)(iii)(F) hereof until (ii) such
time as the Issuers furnishes an amended or supplemented prospectus pursuant to
Section 3(f) or Section 3(c)(iv) hereof, each such registration statement, and
each prospectus (including, without limitation, any preliminary or summary
prospectus) contained therein or furnished pursuant to Section 3(e) or Section
3(c) hereof, as then amended or supplemented, will conform in all material
respects to the requirements of the Securities Act and the Trust Indenture Act
and will not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing;
provided, however, that this covenant shall not apply to any statements or
omissions made in reliance upon and in conformity with information furnished in
writing to the Issuers by a holder of Registrable Securities expressly for use
therein.

                  (b) Any documents incorporated by reference in any prospectus
referred to in Section 5(a) hereof, when they become or became effective or are
or were filed with the Commission, as the case may be, will conform or conformed
in all material respects to the requirements of the Securities Act or the
Exchange Act, as applicable, and none of such documents will contain or
contained an untrue statement of a material fact or will omit or omitted to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading; provided, however, that this covenant shall
not apply to any statements or omissions made in reliance upon and in conformity
with information furnished in writing to the Issuers by a holder of Registrable
Securities expressly for use therein.

                  (c) The compliance by the Issuers with all the provisions of
this Exchange and Registration Rights Agreement and the consummation of the
transactions herein contemplated will not conflict with or result in a material
breach of any of the terms or provisions of, or constitute a default under, any
indenture, mortgage, deed of trust, loan agreement, lease, license, franchise
agreement, permit or other material agreement or instrument to which either of
the Issuers or any of Charter Communications, Inc. ("CCI"), Charter
Communications Holding

                                       19
<PAGE>

Company, LLC ("CCH LLC"), Charter Communications Holdings, LLC ("Holdings"), CCH
I, LLC ("CCH I") and CCH II, LLC (collectively with CCI, CCH LLC, Holdings and
CCH I, the "Parent Companies") or the Issuers' subsidiaries is a party or by
which either of the Issuers or any of their Parent Companies or the Issuers'
subsidiaries is bound or to which any of the property or assets of the Issuers
or any of their Parent Companies or the Issuers' subsidiaries is subject, nor
will such action result in any violation of the provisions of the certificate of
formation or limited liability company agreement of the Company or the
certificate of incorporation or bylaws of CCO Holdings Capital or any statute or
any order, rule or regulation of any court or governmental agency or body,
including without limitation, the Communications Act of 1934, as amended, the
Cable Communications Policy Act of 1984, as amended, the Cable Television
Consumer Protection and Competition Act of 1992, as amended, and the
Telecommunications Act of 1996 (collectively, the "Cable Acts") or any order,
rule or regulation of the Federal Communications Commission (the "FCC"), having
jurisdiction over the Issuers or any of their Parent Companies or the Issuers'
subsidiaries or any of their properties, except for any such violation which
would not materially impair the Issuers' ability to comply herewith; and no
consent, approval, authorization, order, registration or qualification of or
with any such court or governmental agency or body is required, including,
without limitation, under the Cable Acts or any order, rule or regulation of the
FCC, for the consummation by the Issuers of the transactions contemplated by
this Exchange and Registration Rights Agreement, except the registration under
the Securities Act of the Notes, qualification of the Indenture under the Trust
Indenture Act and such consents, approvals, authorizations, registrations or
qualifications as may be required under State Notes or blue sky laws in
connection with the offering and distribution of the Notes.

                  (d) This Exchange and Registration Rights Agreement has been
duly authorized, executed and delivered by the Issuers.

         6. Indemnification.

                  (a) The Issuers, jointly and severally, agree to indemnify and
hold harmless each holder of Registrable Securities or Exchange Notes, as the
case may be, covered by any Exchange Offer Registration Statement or Shelf
Registration Statement (including each Purchaser and, with respect to any
prospectus delivery as contemplated in Section 3(c)(ii) or (iv) hereof, each
holder (which may include any Purchaser) that is a broker-dealer and elects to
exchange for Exchange Notes any Registrable Securities that it acquired for its
own account as a result of market-making activities or other trading activities
(but not directly from the Issuers or any affiliate of the Issuers) for Exchange
Notes) (each an "Exchanging Dealer"), the affiliates, directors, officers,
employees and agents of each such holder and each person who controls any such
holder within the meaning of either the Securities Act or the Exchange Act
against any and all losses, claims, damages or liabilities, joint or several, to
which they or any of them may become subject under the Securities Act, the
Exchange Act or other Federal or state statutory law or regulation, at common
law or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue statement
or alleged untrue statement of a material fact contained in the Exchange Offer
Registration Statement or Shelf Registration Statement as originally filed or in
any amendment thereof, or in any preliminary prospectus or the prospectus
included in any registration statement, or in any amendment thereof or
supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and agrees to reimburse
each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any
such loss, claim, damage, liability or action; provided, however,

                                       20
<PAGE>

that the Issuers will not be liable in any case to the extent that any such
loss, claim, damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made
therein in reliance upon and in conformity with written information furnished to
the Issuers by or on behalf of any such holder specifically for inclusion
therein. This indemnity agreement will be in addition to any liability which the
Issuers may otherwise have.

                  The Issuers, jointly and severally, also agree to indemnify or
contribute as provided in Section 6(d) to Losses of any underwriter of
Registrable Securities or Exchange Notes, as the case may be, registered under a
Shelf Registration Statement, their directors, officers, employees or agents and
each person who controls such underwriter within the meaning of either the
Securities Act or the Exchange Act, on substantially the same basis as that of
the indemnification of the Purchasers and the selling Holders provided in this
Section 6(a) and shall, if requested by any holder, enter into an underwriting
agreement reflecting such agreement, as provided in Section 3(e)(xvi) hereof.

                  (b) Each holder of Registrable Securities or Exchange Notes
covered by an Exchange Offer Registration Statement or Shelf Registration
Statement (including each Purchaser and, with respect to any prospectus delivery
as contemplated in Section 3(c)(ii or iv) or Section 3(f) hereof, each
Exchanging Dealer) severally agrees to indemnify and hold harmless the Issuers
and each of their affiliates, directors, employees, members, managers and agents
and each Person who controls the Issuers within the meaning of either the
Securities Act or the Exchange Act, to the same extent as the foregoing
indemnity from the Issuers to each such holder, but only with reference to
written information relating to such holder furnished to the Issuers by or on
behalf of such holder specifically for inclusion in the documents referred to in
the foregoing indemnity. This indemnity agreement will be in addition to any
liability which any such holder may otherwise have.

                  (c) Promptly after receipt by an indemnified party under this
Section 6 or notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party
under this Section 6, notify the indemnifying party in writing of the
commencement thereof; but the failure so to notify the indemnifying party (i)
will not relieve it from liability under paragraph (a) or (b) above unless and
to the extent such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses; and (ii) will not, in any
event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (a) or (b)
above. The indemnifying party shall be entitled to participate therein and, to
the extent that it shall wish, jointly with any other indemnifying party
similarly notified, to assume the defense thereof, with counsel satisfactory to
such indemnified party (who shall not, except with the consent of the
indemnified party, be counsel to the indemnifying party), and, except as
provided in the next sentence, after notice from the indemnifying party to such
indemnified party of its election to so assume the defense thereof, the
indemnifying party shall not be liable to such indemnified party for any legal
expenses of other counsel or any other expenses, in each case subsequently
incurred by such indemnified party, in connection with the defense thereof other
than reasonable costs of investigation. Notwithstanding the indemnifying party's
rights in the prior sentence, the indemnified party shall have the right to
employ its own counsel (and one local counsel), and the indemnifying party shall
bear the reasonable fees, costs and expenses of such separate counsel if (i) the
use of counsel chosen by the indemnifying party to represent the indemnified
party would present such counsel with a conflict of interest; (ii) the actual or
potential defendants in, or targets of, any such action include both the
indemnified party and the indemnifying party and the indemnified party shall
have reasonably concluded that there may be

                                       21
<PAGE>

legal defenses available to it and/or other indemnified parties which are
different from or additional to those available to the indemnifying party; (iii)
the indemnifying party shall not have employed counsel satisfactory to the
indemnified party to represent the indemnified party within a reasonable time
after notice of the institution of such action; or (iv) the indemnifying party
shall authorize the indemnified party to employ separate counsel at the expense
of the indemnifying party. No indemnifying party shall, in connection with any
one action or separate but substantially similar or related actions in the same
jurisdiction arising out of the same general circumstances or allegations, be
liable for the fees and expenses of more than one separate firm of attorneys (in
addition to any local counsel) for all indemnified parties. An indemnifying
party shall not be liable under this Section 6 to any indemnified party
regarding any settlement or compromise or consent to the entry of any judgment
with respect to any pending or threatened claim, action, suit or proceeding in
respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified parties are actual or potential parties to such
claim or action) unless such settlement, compromise or consent is consented to
by such indemnifying party, which consent shall not be unreasonably withheld.

                  (d) In the event that the indemnity provided in paragraph (a)
or (b) of this Section 6 is unavailable to or insufficient to hold harmless an
indemnified party for any reason, then each applicable indemnifying party agrees
to contribute to the aggregate losses, claims, damages and liabilities
(including, without limitation, legal or other expenses reasonably incurred in
connection with investigating or defending same) (collectively "Losses") to
which such indemnifying party may be subject in such proportion as is
appropriate to reflect the relative benefits received by the indemnifying party
on the one hand and by the indemnified party on the other from the offering of
the Notes. If, however, the allocation provided by the immediately preceding
sentence is not permitted by applicable law or if the indemnified party failed
to give the notice required under subsection (c) above, then each indemnifying
party shall contribute to such amount paid or payable by such indemnified party
in such proportion as is appropriate to reflect not only such relative benefits
but also the relative fault of the indemnifying party on the one hand and the
indemnified party on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in
respect thereof), as well as any other relevant equitable considerations.
Benefits received by the Issuers shall be deemed to be equal to the sum of (x)
the total net proceeds from the initial placement of the Notes (before deducting
expenses) reflected in the Purchase Agreement and (y) the total amount of
Special Interest which the Issuers were not required to pay as a result of
registering the securities covered by the Exchange Offer Registration Statement
or Shelf Registration Statement which resulted in such Losses. Benefits received
by the Purchasers shall be deemed to be equal to the total purchase discounts
and commissions as reflected in the Purchase Agreement, and benefits received by
any other holders shall be deemed to be equal to the proceeds received from the
sale of the Registrable Securities or Exchange Notes, as applicable. Benefits
received by any underwriter shall be deemed to be equal to the total
underwriting discounts and commissions, as set forth in the prospectus forming a
part of the Exchange Offer Registration Statement or Shelf Registration
Statement which resulted in such Losses. The relative fault shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the indemnifying party on the
one hand or the Indemnified party on the other and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The parties agree that it would not be just and equitable
if contribution pursuant to this subsection (d) were determined by pro rata
allocation (even if the holders or any agents or underwriters or all of them
were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to above in this subsection (d). The amount paid or payable by an indemnified
party as a result of the losses,

                                       22
<PAGE>

claims, damages or liabilities (or actions in respect thereof) referred to above
in this subsection (d) shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this
subsection (d), no holder shall be required to contribute any amount in excess
of the amount by which the dollar amount of the proceeds received by such holder
from the sale of Registrable Securities (after deducting any fees, discounts and
commissions applicable thereto) exceeds the amount of any damages which such
holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission, and no underwriter shall be
required to contribute any amount in excess of the amount by which the total
price of the Registrable Securities underwritten by it and distributed to the
public exceeds the amount of any damages which such underwriter has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. The holders' and any underwriters' obligations in
this subsection (d) to contribute are several in proportion to the principal
amount of Registrable Securities registered or underwritten, as the case may be,
by them, and not joint. Notwithstanding the provisions of this paragraph (d), no
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. For purposes of this
Section 6, each person who controls any holder, agent or underwriter within the
meaning of either the Securities Act or the Exchange Act and each director,
officer, employee and agent of a holder, agent or underwriter shall have the
same rights to contribution as such holder, agent or underwriter, and each
person who controls the Issuers within the meaning of either the Securities Act
or the Exchange Act and each officer and director of the Issuers shall have the
same rights to contribution as the Issuers, subject in each case to the
applicable terms and conditions of this paragraph (d).

                  (e) The provisions of this Section will remain in full force
and effect, regardless of any investigation made by or on behalf of any holder
or the Issuers or any of the officers, directors or controlling persons referred
to in this Section hereof, and will survive the sale by a holder of securities
covered by an Exchange Offer Registration Statement or Shelf Registration
Statement.

         7. Underwritten Offerings.

                  (a) Selection of Underwriters. If any of the Registrable
Securities covered by the Shelf Registration are to be sold pursuant to an
underwritten offering, the managing underwriter or underwriters thereof shall be
designated by Electing Holders holding at least a majority in aggregate
principal amount of the Registrable Securities to be included in such offering,
provided that such designated managing underwriter or underwriters is or are
reasonably acceptable to the Issuers.

                  (b) Participation by Holders. Each holder of Registrable
Securities hereby agrees with each other such holder that no such holder may
participate in any underwritten offering hereunder unless such holder (i) agrees
to sell such holder's Registrable Securities on the basis provided in any
underwriting arrangements approved by the persons entitled hereunder to approve
such arrangements and (ii) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements.

         8. Rule 144.

                                       23
<PAGE>

         Each of the Issuers covenants to the holders of Registrable Securities
that to the extent it shall be required to do so under the Exchange Act, it
shall timely file the reports required to be filed by it under the Exchange Act
or the Securities Act (including, without limitation, the reports under Section
13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144
adopted by the Commission under the Securities Act), and shall take such further
action as any holder of Registrable Securities may reasonably request, all to
the extent required from time to time to enable such holder to sell Registrable
Securities without registration under the Securities Act within the limitations
of the exemption provided by Rule 144 under the Securities Act, or any similar
or successor rule or regulation hereafter adopted by the Commission. Upon the
request of any holder of Registrable Securities in connection with that holder's
sale pursuant to Rule 144, the Issuers shall deliver to such holder a written
statement as to whether it has complied with such requirements.

         9. Miscellaneous.

                  (a) No Inconsistent Agreements. The Issuers represent,
warrant, covenant and agree that they have not granted, and shall not grant,
registration rights with respect to Registrable Securities or any other Notes
which would be inconsistent with the terms contained in this Exchange and
Registration Rights Agreement.

                  (b) Specific Performance. The parties hereto acknowledge that
there would be no adequate remedy at law if the Issuers fail to perform any of
their obligations hereunder and that the Purchasers and the holders from time to
time of the Registrable Securities may be irreparably harmed by any such
failure, and accordingly agree that the Purchasers and such holders, in addition
to any other remedy to which they may be entitled at law or in equity, shall be
entitled to compel specific performance of the obligations of the Issuers under
this Exchange and Registration Rights Agreement in accordance with the terms and
conditions of this Exchange and Registration Rights Agreement, in any court of
the United States or any State thereof having jurisdiction.

                  (c) Notices. All notices, requests, claims, demands, waivers
and other communications hereunder shall be in writing and shall be deemed to
have been duly given (i) when delivered by hand, if delivered personally or by
courier, (ii) when sent by facsimile (with written confirmation of receipt),
provided that a copy is mailed by registered or certified mail, return receipt
requested or (iii) three days after being deposited in the mail (registered or
certified mail, postage prepaid, return receipt requested) as follows: If to the
Issuers, c/o CCO Holdings, LLC, 12405 Powerscourt Drive, St. Louis, Missouri,
63131, Attention: Secretary, and if to a holder, to the address of such holder
set forth in the security register or other records of the Issuers, or to such
other address as the Issuers or any such holder may have furnished to the other
in writing in accordance herewith, with a copy in like manner c/o Credit Suisse
First Boston LLC Attn: [_____________], Eleven Madison Avenue, New York, New
York 10010 (fax: (212) [________]). Notices of change of address shall be
effective only upon receipt.

                  (d) Parties in Interest. All the terms and provisions of this
Exchange and Registration Rights Agreement shall be binding upon, shall inure to
the benefit of and shall be enforceable by the parties hereto and the holders
from time to time of the Registrable Securities and the respective successors
and assigns of the parties hereto and such holders. In the event that any person
shall acquire Registrable Securities, in any manner, whether by gift, bequest,
purchase, operation of law or otherwise, such transferee shall, without any
further writing or action of any kind, be deemed a beneficiary hereof for all
purposes and such Registrable Securities shall be held subject to all the terms
of this Exchange and Registration Rights

                                       24
<PAGE>

Agreement, and by taking and holding such Registrable Securities such transferee
shall be entitled to receive the benefits, and be conclusively deemed to have
agreed to be bound by all the applicable terms and provisions, of this Exchange
and Registration Rights Agreement. If the Issuers shall so request, any such
successor, assign or transferee shall agree in writing to acquire and hold the
Registrable Securities subject to all the applicable terms hereof.

                  (e) Survival. The respective indemnities, agreements,
representations, warranties and each other provision set forth in this Exchange
and Registration Rights Agreement or made pursuant hereto shall remain in full
force and effect regardless of any investigation (or statement as to the results
thereof) made by or on behalf of any holder of Registrable Securities, any
director, officer or partner of such holder, any agent or underwriter or any
director, officer or partner thereof, or any controlling person of any of the
foregoing, and shall survive delivery of and payment for the Registrable
Securities pursuant to the Purchase Agreement and the transfer and registration
of Registrable Securities by such holder and the consummation of an Exchange
Offer.

                  (f) GOVERNING LAW. THIS EXCHANGE AND REGISTRATION RIGHTS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.

                  (g) Headings. The descriptive headings of the several Sections
and paragraphs of this Exchange and Registration Rights Agreement are inserted
for convenience only, do not constitute a part of this Exchange and Registration
Rights Agreement and shall not affect in any way the meaning or interpretation
of this Exchange and Registration Rights Agreement.

                  (h) Entire Agreement; Amendments. This Exchange and
Registration Rights Agreement and the other writings referred to herein
(including, without limitation, the Indenture and the form of Notes) or
delivered pursuant hereto which form a part hereof contain the entire
understanding of the parties with respect to its subject matter. This Exchange
and Registration Rights Agreement supersedes all prior agreements and
understandings between the parties with respect to its subject matter. This
Exchange and Registration Rights Agreement may be amended and the observance of
any term of this Exchange and Registration Rights Agreement may be waived
(either generally or in a particular instance and either retroactively or
prospectively) only by a written instrument duly executed by the Issuers and the
holders of at least a majority in aggregate principal amount of the Registrable
Securities at the time outstanding. Each holder of any Registrable Securities at
the time or thereafter outstanding shall be bound by any amendment or waiver
effected pursuant to this Section 9(h), whether or not any notice, writing or
marking indicating such amendment or waiver appears on such Registrable
Securities or is delivered to such holder.

                  (i) Inspection. For so long as this Exchange and Registration
Rights Agreement shall be in effect, this Exchange and Registration Rights
Agreement and a complete list of the names and addresses of all the holders of
Registrable Securities shall be made available for inspection and copying, upon
reasonable prior notice, on any business day during normal business hours by any
holder of Registrable Securities for proper purposes only (which shall include
any purpose related to the rights of the holders of Registrable Securities under
the Notes, the Indenture and this Exchange and Registration Rights Agreement) at
the offices of the Issuers at the address thereof set forth in Section 9(c)
above and at the office of the Trustee under the Indenture.

                                       25
<PAGE>

                  (j) Counterparts. This agreement may be executed by the
parties in counterparts, each of which shall be deemed to be an original, but
all such respective counterparts shall together constitute one and the same
instrument.

                  (k) Severability. In the event that any one of more of the
provisions contained herein, or the application thereof in any circumstances, is
held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired
or affected thereby, it being intended that all of the rights and privileges of
the parties shall be enforceable to the fullest extent permitted by law.

                  (l) Securities Held by the Issuers, etc. Whenever the consent
or approval of holders of a specified percentage of principal amount of
Registrable Securities or Exchange Notes is required hereunder, Registrable
Securities or Exchange Notes, as applicable, held by the Issuers or their
affiliates (other than subsequent holders of Registrable Securities or Exchange
Notes if such subsequent holders are deemed to be affiliates solely by reason of
their holdings of such Registrable Securities or Exchange Notes) shall not be
counted in determining whether such consent or approval was given by the holders
of such required percentage.

                                       26
<PAGE>

         SIGNATURE PAGE TO THE REGISTRATION RIGHTS AGREEMENT If the foregoing is
in accordance with your understanding, please sign and return to us counterparts
hereof, and upon the acceptance hereof by you, on behalf of each of the
Purchasers, this letter and such acceptance hereof shall constitute a binding
agreement between each of the Purchasers and the Issuers. It is understood that
your acceptance of this letter on behalf of each of the Purchasers is pursuant
to the authority set forth in a form of Agreement among Purchasers, the form of
which shall be submitted to the issuers for examination upon request, but
without warranty on your part as to the authority of the signers thereof.

                                              Very truly yours,

                                              CCO HOLDINGS, LLC,
                                                  as an Issuer

                                              By:_______________________________
                                                 Name:
                                                 Title:

                                              CCO HOLDINGS CAPITAL CORP.,
                                                  as an Issuer

                                              By:_______________________________
                                                 Name:
                                                 Title:

               SIGNATURE PAGE TO THE REGISTRATION RIGHTS AGREEMENT

<PAGE>

Accepted as of the date hereof:

CREDIT SUISSE FIRST BOSTON LLC
Citigroup Global Markets Inc.
as Representatives of the Several Purchasers

By: CREDIT SUISSE FIRST BOSTON LLC

By:___________________________________________
   Name:
   Title:

               SIGNATURE PAGE TO THE REGISTRATION RIGHTS AGREEMENT

<PAGE>

                                                                       EXHIBIT A

                                CCO HOLDINGS, LLC
                           CCO HOLDINGS CAPITAL CORP.

                         INSTRUCTION TO DTC PARTICIPANTS

                                (Date of Mailing)

                     URGENT - IMMEDIATE ATTENTION REQUESTED

                        DEADLINE FOR RESPONSE: [DATE](a)

         The Depository Trust Company ("DTC") has identified you as a DTC
Participant through which beneficial interests in the CCO Holdings, LLC (the
"Company") and CCO Holdings Capital Corp. (together with the Company, the
"Issuers'") Senior Floating Rate Notes due 2010 issued on December 15, 2004 (the
"Notes") are held.

         The Issuers are in the process of registering the Notes under the
Securities Act of 1933, as amended, for resale by the beneficial owners thereof.
In order to have their Notes included in the registration statement, beneficial
owners must complete and return the enclosed Notice of Registration Statement
and Selling Securityholder Questionnaire.

         It is important that beneficial owners of the Notes receive a copy of
the enclosed materials as soon as possible as their rights to have the Notes
included in the registration statement depend upon their returning the Notice
and Questionnaire by [Deadline For Response]. Please forward a copy of the
enclosed documents to each beneficial owner that holds interests in the Notes
through you. If you require more copies of the enclosed materials or have any
questions pertaining to this matter, please contact the Issuers c/o CCO
Holdings, LLC, 12405 Powerscourt Drive, St. Louis, Missouri, 63131, Attention:
Secretary.

         (a) Not less than 28 calendar days from date of mailing.

                                      A-1
<PAGE>

                                CCO HOLDINGS, LLC
                        CCO HOLDINGS CAPITAL CORPORATION

                        Notice of Registration Statement
                                       and
                      Selling Securityholder Questionnaire

                                     (Date)

         Reference is hereby made to the Exchange and Registration Rights
Agreement (the "Exchange and Registration Rights Agreement") between CCO
Holdings, LLC and CCO Holdings Capital Corp. (together, the "Issuers"), and the
Purchasers named therein. Pursuant to the Exchange and Registration Rights
Agreement, the Issuers have filed with the United States Securities and Exchange
Commission (the "Commission") a registration statement on Form S-1 (the "Shelf
Registration Statement") for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the "Securities Act"), of the Issuers'
Senior Floating Rate Notes due 2010 issued on December 15, 2004 (the "Notes"). A
copy of the Exchange and Registration Rights Agreement is attached hereto. All
capitalized terms not otherwise defined herein shall have the meanings ascribed
thereto in the Exchange and Registration Rights Agreement.

         Each beneficial owner of Registrable Securities is entitled to have the
Registrable Securities beneficially owned by it included in the Shelf
Registration Statement. In order to have Registrable Securities included in the
Shelf Registration Statement, this Notice of Registration Statement and Selling
Securityholder Questionnaire ("Notice and Questionnaire") must be completed,
executed and delivered to the Issuers' counsel at the address set forth herein
for receipt ON OR BEFORE [Deadline for Response]. Beneficial owners of
Registrable Securities who do not complete, execute and return this Notice and
Questionnaire by such date (i) will not be named as selling securityholders in
the Shelf Registration Statement and (ii) may not use the Prospectus forming a
part thereof for resales of Registrable Securities.

         Certain legal consequences arise from being named as a selling
securityholder in the Shelf Registration Statement and related prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are advised
to consult their own securities law counsel regarding the consequences of being
named or not being named as a selling securityholder in the Shelf Registration
Statement and related prospectus.

                                      A-2
<PAGE>

                                    ELECTION

         The undersigned holder (the "Selling Securityholder") of Registrable
Securities hereby elects to include in the Shelf Registration Statement the
Registrable Securities beneficially owned by it and listed below in Item (3).
The undersigned, by signing and returning this Notice and Questionnaire, agrees
to be bound with respect to such Registrable Securities by the terms and
conditions of this Notice and Questionnaire and the Exchange and Registration
Rights Agreement, including, without limitation, Section 6 of the Exchange and
Registration Rights Agreement, as if the undersigned Selling Securityholder were
an original party thereto.

         Upon any sale of Registrable Securities pursuant to the Shelf
Registration Statement, the Selling Securityholder will be required to deliver
to the Issuers and the Trustee the Notice of Transfer Pursuant to Registration
Statement set forth in Exhibit B to the Exchange and Registration Rights
Agreement.

         The Selling Securityholder hereby provides the following information to
the Issuers and represents and warrants that such information is accurate and
complete:

                                  QUESTIONNAIRE

(1)     (a) Full Legal Name of Selling Securityholder:

         (b) Full Legal Name of Registered Holder (if not the same as in (a)
above) of Registrable Securities Listed in Item (3) below:

         (c) Full Legal Name of DTC Participant (if applicable and if not the
same as (b) above) Through Which Registrable Securities Listed in Item (3) below
are Held:

(2)      Address for Notices to Selling Securityholder:

         _______________________________

         _______________________________

         _______________________________

         Telephone:      _______________________________

         Fax:            _______________________________

         Contact Person: _______________________________

                                      A-3
<PAGE>

(3)      Beneficial Ownership of Notes:

         Except as set forth below in this Item (3), the undersigned does not
beneficially own any Notes.

         (a)      Principal amount of Registrable Securities beneficially owned:

                  ______________________________________________________________

                  CUSIP No(s). of such Registrable Securities: _________________

         (b)      Principal amount of Notes other than Registrable Securities
                  beneficially owned:

                  ______________________________________________________________

                  CUSIP No(s). of such other Notes: ____________________________

         (c)      Principal amount of Registrable Securities which the
                  undersigned wishes to be included in the Shelf Registration
                  Statement: ___________________________________________________

                  CUSIP No(s). of such Registrable Securities to be included in
                  the Shelf Registration Statement: ____________________________

(4)      Beneficial Ownership of Other Securities of the Issuers:

         Except as set forth below in this Item (4), the undersigned Selling
         Securityholder is not the beneficial or registered owner of any other
         securities of the Issuers other than the Notes listed above in Item
         (3).

         State any exceptions here:

(5)      Relationships with the Issuers:

         Except as set forth below, neither the Selling Securityholder nor any
         of its affiliates, officers, directors or principal equity holders (5%
         or more) has held any position or office or has had any other material
         relationship with the Issuers (or their respective predecessors or
         affiliates) during the past three years.

         State any exceptions here:

(6)      Plan of Distribution:

         Except as set forth below, the undersigned Selling Securityholder
         intends to distribute the Registrable Securities listed above in Item
         (3) only as follows (if at all): Such Registrable Securities may be
         sold from time to time directly by the undersigned Selling
         Securityholder or, alternatively, through underwriters, broker-dealers
         or agents. Such Registrable Securities may be sold in one or more
         transactions at fixed prices, at prevailing market prices at the time
         of sale, at varying prices determined at the time of sale, or at
         negotiated prices. Such sales may be effected in transactions (which
         may involve crosses or block transactions) (i) on any national
         securities exchange or quotation service on which the Registered Notes
         may be listed or quoted at the time of sale, (ii) in the
         over-the-counter market, (iii) in transactions otherwise than on such
         exchanges or

                                      A-4
<PAGE>

         services or in the over-the-counter market, or (iv) through the writing
         of options. In connection with sales of the Registrable Securities or
         otherwise, the Selling Securityholder may enter into hedging
         transactions with broker-dealers, which may in turn engage in short
         sales of the Registrable Securities in the course of hedging the
         positions they assume. The Selling Securityholder may also sell
         Registrable Securities short and deliver Registrable Securities to
         close out such short positions, or loan or pledge Registrable
         Securities to broker-dealers that in turn may sell such Notes.

         State any exceptions here:

By signing below, the Selling Securityholder acknowledges that it understands
its obligation to comply, and agrees that it will comply, with the provisions of
the Exchange Act including, without limitation, Regulation M.

In the event that the Selling Securityholder transfers all or any portion of the
Registrable Securities listed in Item (3) above after the date on which such
information is provided to the Issuers, the Selling Securityholder agrees to
notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire and the Exchange and
Registration Rights Agreement.

By signing below, the Selling Securityholder consents to the disclosure of the
information contained herein in its answers to Items (1) through (6) above and
the inclusion of such information in the Shelf Registration Statement and
related Prospectus. The Selling Securityholder understands that such information
will be relied upon by the Issuers in connection with the preparation of the
Shelf Registration Statement and related Prospectus.

In accordance with the Selling Securityholder's obligation under Section 3(e) of
the Exchange and Registration Rights Agreement to provide such information as
may be required by law for inclusion in the Shelf Registration Statement, the
Selling Securityholder agrees to promptly notify the Issuers of any inaccuracies
or changes in the information provided herein which may occur subsequent to the
date hereof at any time while the Shelf Registration Statement remains in
effect. All notices hereunder and pursuant to the Exchange and Registration
Rights Agreement shall be made in writing, by hand-delivery, first-class mail,
or air courier guaranteeing overnight delivery as follows:

         (i) To the Issuers:

         _________________________

         _________________________

         _________________________

         _________________________

         _________________________

                                      A-5
<PAGE>

         (ii) With a copy to:

         _________________________

         _________________________

         _________________________

         _________________________

         _________________________

Once this Notice and Questionnaire is executed by the Selling Securityholder and
received by the Issuers' counsel, the terms of this Notice and Questionnaire,
and the representations and warranties contained herein, shall be binding on,
shall inure to the benefit of and shall be enforceable by the respective
successors, heirs, personal representatives, and assigns of the Issuers and the
Selling Securityholder (with respect to the Registrable Securities beneficially
owned by such Selling Securityholder and listed in Item (3) above). This
Agreement shall be governed in all respects by the laws of the State of New York
without giving effect to any provisions relating to conflicts of laws.

IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this
Notice and Questionnaire to be executed and delivered either in person or by its
duly authorized agent.

Dated: ____________________

________________________________________________________________________________
         Selling Securityholder
         (Print/type full legal name of beneficial owner of Registrable
         Securities)

         By ______________________________________
            Name:
            Title:

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON
OR BEFORE [DEADLINE FOR RESPONSE] TO THE ISSUERS' COUNSEL AT:

         _________________________

         _________________________

         _________________________

         _________________________

         _________________________

                                      A-6
<PAGE>

                                                                       EXHIBIT B

              NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT

Wells Fargo Bank, N.A.
CCO Holdings, LLC
CCO Holdings Capital Corp.
c/o Wells Fargo Bank, N.A.
[Address]
[Address]
Attention: Trust Officer

         Re: CCO Holdings, LLC
         and CCO Holdings Capital Corp.
         (together, the "Issuers") Senior Floating Rate Notes due 2010 issued
         on December 15, 2004

Dear Sirs:

Please be advised that ________________ has transferred $___________ aggregate
principal amount of the above-referenced Notes pursuant to an effective
Registration Statement on Form S-1 (File No. 333-____) filed by the Issuers.

We hereby certify that the prospectus delivery requirements, if any, of the
Securities Act of 1933, as amended, have been satisfied and that the above-named
beneficial owner of the Notes is named as a "Selling Holder" in the prospectus
dated [date] or in supplements thereto, and that the aggregate principal amount
of the Notes transferred are the Notes listed in such prospectus opposite such
owner's name.

Dated:

         Very truly yours,

         __________________________________
                  (Name)

         By: ______________________________
                 (Authorized Signature)

                                       B-1

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