Document:

Exhibit
10.24

 

From:      Ronagold Limited

Bedford House

69-79 Fuham High Street

London SW6 3JW

 

To:           19 Recordings Limited

33 Ransome’s Dock

35-37 Parkgate Road

London SW11 4NP

 

14 October, 2004

 

Dear Sirs:

 

Pop Idol/Idols

 

We refer to the option agreement between you and us dated 8 February 2002
(“the Agreement”).

 

In consideration of the sum of one pound (£l) now paid by us to you and
the mutual promises contained herein you and we have mutually agreed to vary
the Agreement as follows:-

 

1.             INTENTIONALLY
DELETED

 

2.              Clause
3.1 of the Agreement shall be deemed amended with effect from the date of
signature thereof by the deletion from the seventh line of the words “BMG/Bertelsmann
group of companies” and the substitution therefor of the words “Sony BMG Music
Entertainment group of companies or such group’s customary licensee in the
Relevant Territory”.

 

3.             19
consents to Simon Cowell being present at recording sessions in addition to the
representative of the US Licensee pursuant to clause 3.2 of the US Licence attached
to the Agreement as Exhibit A. Ronagold shall obtain the consent of the US
Designee to the presence of Simon Cowell at such recording sessions.

 

4.             (a)            It is agreed that BMG
Records Africa PTY Limited (“BMG Africa”) has been designated by Ronagold as
the ROW Designee in respect of the first and second Series for the Relevant
Territory of South Africa.

 

(b)           Ronagold
agrees that BMG Africa shall have the right to make up to two recordings by
each of the 11 Finalists of the first and second Series in South Africa (making
a total of up to 22 recordings in respect of each Series) for release as ‘Idols’
compilation albums, the first of which was released in South Africa on 11th July 2002.
The recordings shall be treated as Override Masters and the compilation albums
shall be treated as albums of Override Masters. Ronagold agrees to procure that
BMG Africa pays to 19 on Ronagold’s behalf an advance of £5,000 in relation to
each such compilation album (to the extent not already paid prior to the date
hereof) and Ronagold shall account and, subject to recoupment of the said
advance, pay Override Royalties to 19 calculated at the rates set out in 

 

 

paragraph Al of Schedule 2
to the Agreement on all sales of the said compilation albums. For the avoidance
of doubt, Ronagold’s liability to pay Override Royalties to 19 in respect of
records embodying the said albums shall be limited to the foregoing sentence,
so that Ronagold shall not be liable to pay 19 a double royalty in respect
thereof.

 

(c)           Ronagold
agrees to procure the payment by BMG Africa of an advance of ZAR 150,000 to the
Winner of the Competition within 14 days after the final episode of the first
Series. 19 acknowledges that Ronagold has complied with the said obligation.
Ronagold agrees to procure the payment by BMG Africa (if not already made prior
to the date hereof) of an advance of ZAR 150,000 (less ZAR 22,500 payable to
the management designee in South Africa) to the Winner of the Competition
within 14 days after the final episode of the second Series.

 

5.             (a)            It is agreed that BMG
Poland Ltd (“BMG Poland”) shall be the ROW Designee in respect of the first,
second and third Series for the Relevant Territory of Poland.

 

(b)           19
agrees that BMG Poland shall have the right to make up to two recordings by
each of the 10 Finalists of each Series in Poland (making a total of up to 20
recordings in respect of each Series) for release on ‘Idols’ compilation
albums, the first of which was released in Poland in August 2002. The
recordings shall be treated as Override Masters and each compilation shall be
treated as an album of Override Masters. Ronagold agrees to procure that BMG
Poland pays to 19 on Ronagold’s behalf an advance of £5,000 within 14 days
after the date hereof in relation to the compilation album for the first Series
(receipt of which is hereby acknowledged) and Ronagold shall account for and,
subject to recoupment of such advance, pay Override Royalties to 19 at the
rates set out in paragraph Al of Schedule 2 to the Agreement on all sales
of the compilation albums. There shall be no advance for the compilation album
for the second Series. For the avoidance of doubt, Ronagold’s liability to pay
Override Royalties to 19 in respect of records embodying the said albums shall
be limited to the foregoing sentence, so that Ronagold shall not be liable to
pay 19 a double royalty in respect thereof.

 

(c)           INTENTIONALLY
DELETED.

 

6.             (a)            In Clause 3.3 the
second sentence (beginning “The form of ...........” and ending “............ country
concerned”) shall be deemed deleted in respect of Series commencing after the
date of signature hereof and replaced with:

 

“Ronagold shall ensure that the form of and terms
contained in the Recording Agreements shall comply with clause 3.18 below but
Ronagold shall not be in breach of the Agreement if its choice as to the Local
Record Company refuses to contract on all such terms”.

 

(b)           A
new clause 3.18 shall be deemed added to the Agreement in respect of recording
agreements entered into after the date of signature hereof in the following
terms:

 

 

“3.18 The Recording Agreement to be entered into by
the Winning Artist and any Finalist pursuant to clause 3.3 above:

 

(i)            shall
be based on the ROW Designee’s usual exclusive recording agreement;

 

(ii)           shall
provide for an initial firm recording commitment of a minimum of one album;

 

(iii)          shall
provide for advances, creative controls, royalties and approvals commensurate
with such terms available in ROW Designee’s agreements to an artist who has
already had one ‘platinum’ selling album prior to signature in the country
concerned;

 

(iv)          shall
provide a commitment to release the first album in the country concerned within
a reasonable time following delivery of the completed album;

 

(v)           shall
not attempt to obtain any merchandising (it being acknowledged and agreed that
for the purposes of this sub-clause (v) the term ‘merchandising’ shall exclude
so-called “electronic ‘merchandising’ e.g. ringtones whether they do or do not
embody master recordings), sponsorship, advertising or endorsement rights from
the artist concerned;

 

(vi)          shall
not restrict the artist’s ability to perform live concerts (provided no
recording of such concert is to be made by any party whatsoever (including but
not limited to 19 and any other company within the 19 group of companies) other
than the ROW Designee and other than to satisfy local series TV broadcast
obligations (but not in any event on a pay-per-view basis or subscription
basis));

 

(vii)         shall
not attempt to obtain the songwriting services of the artist, obtain assignment
or licence of rights in musical compositions written by the artist (other than
normal warranties concerning so-called ‘controlled compositions’) or require
the artist to grant such rights to any third party;

 

(viii)        shall
PROVIDED ALWAYS THAT 19 have served the relevant notice upon Ronagold pursuant
to sub-clause 3.2 above be supplied to 19 promptly following 19’s request
therefor solely in order to enable 19 to check that the same complies with this
sub-clause 3.18; and

 

(ix)           shall
be executed by the ROW Designee promptly following execution of the agreement
by each Finalist.

 

7.             In
the first line of clause 3.4 of the Agreement the word ‘BMG’ shall be deemed
deleted with effect from signature of the Agreement and replaced with the word ‘Ronagold’.

 

 

8.             (a)           In the event that
Ronagold exercises its option to be the Local Record Company in respect of the
Third Series in the

Relevant Territory of the United Kingdom
pursuant to clause 4.12 of the Agreement, 19 hereby grants to Ronagold an
exclusive irrevocable option (‘the Third Series Compilation Option’) to enter
into a licence agreement with 19 for the Third Series compilation album and any
and all proposed single releases (‘Group Singles’) embodying recordings by
predominantly all of the Finalists (‘Group Recordings’). 19 shall not make more
than one such compilation album in relation to the Third Series without
Ronagold’ s prior written consent.

 

(b)           Ronagold
shall have the right to exercise the Third Series Compilation Option pursuant
to sub-clause 8(a) above by notice in writing served on 19 within 21 days after
receipt by Ronagold of notice from 19 complying with the provisions of
sub-clause (c) below confirming:

 

(i)            that
19 intends to make a compilation album (and, if applicable, one or more Group
Recordings) featuring recordings by the Finalists of the Third Series in the
Relevant Territory of the United Kingdom;

 

(ii)           19’s
bona fide estimate of the recording costs and the producer advances to be
incurred by 19 in making the compilation album (and any applicable Group
Recordings) (which the parties do not intend should exceed £25,000 per track in
aggregate);

 

(iii)          the
bona fide amount payable directly to the Finalists by way of advances against
royalties in respect of tracks for the compilation album (and any Group
Recordings);

 

(iv)          the
proposed release date(s);

 

(v)           the
proposed track listing(s);

 

(vi)          any
restriction upon, or dilution of, the Artist Rights (as defined in sub-clause
(c) below.

 

(c)           19
shall serve such notice no earlier than seven (7) days after broadcast in the
UK of the first programme following selection of all of the Finalists, and no
later than six (6) weeks prior to the broadcast in the UK of the last programme
in the series (the period between the said two (2) dates being hereinafter
referred to as ‘the Notice Period’)). 19 shall use its commercial endeavours to
secure from the Finalists the necessary rights to enable 19 to enter into the
applicable compilation album licence agreement with Ronagold (‘the Artist
Rights’). If 19 is unable to secure the Artist Rights,  19 shall notify Ronagold to that effect
within the Notice Period, and if 19 (prior to, during or after the Notice
Period) acquires the Artist Rights it shall then serve a notice on Ronagold in
accordance with sub-clause (b) above and Ronagold shall have the Third Series
Compilation Album Option on the terms set out above. If Ronagold exercises its
option pursuant to sub-clause 8(a) above, 19 and Ronagold will promptly
thereafter execute an agreement (‘the 

 

 

Third Series Compilation
Licence’) on the terms contained in the agreement of even date herewith between
19 and Ronagold regarding the compilation album for the second Series in the
United Kingdom mutatis mutandis save that it is acknowledged and agreed that if
the Profit (as defined therein) is a negative amount, i.e. a loss has been made
by Ronagold, 19 shall have no liability to make a contribution to Ronagold in
respect of such loss.

 

(d)           For
the avoidance of doubt, no additional advances or royalties will be payable by
Ronagold in respect of the making or exploitation of the recordings comprised
on the Third Series Compilation Album and any Group Recordings other than
pursuant to the Third Series Compilation Licence (for example, Ronagold will
not be obliged to pay any advances and/or royalties for such recordings under
any Licence Agreement entered into in respect of the Winning Artist or any
other Finalist in respect of whom Ronagold has exercised its option to be the
Local Record Company in the United Kingdom).

 

(e)           INTENTIONALLY
DELETED

 

(f)            If
Ronagold so wishes, Ronagold may create and maintain a website relating to the
Third Series Compilation Album, the costs of which shall be subject to 19’s
approval (such approval not to be unreasonably withheld or delayed) and shall
be a Cost within the meaning of sub-clause (vi) above. 19 shall supply to
Ronagold all materials (at cost price) and co-operation reasonably required by
Ronagold in connection therewith.

 

(g)           19
shall not release a long-form video (whether in VHS format, DVD format or any
other format) featuring the Finalists which is substantially similar, in terms
of musical content, to the Third Series Compilation Album.

 

8A.          If
Ronagold exercises its option pursuant to clause 4.19 of the Option Agreement
to enter into a Licence Agreement with 19 for the Winning Artist of the fourth
Series in the Relevant Territory of the United Kingdom, 19 hereby grants to
Ronagold an exclusive irrevocable option to enter into an agreement with 19 for
the compilation album to be released in association with the fourth Series in
the UK on the same terms and conditions as apply in respect of the compilation
album to be released in association with the third Series in the UK.

 

8B.          The
following sentence shall be deemed added with effect from the date of signature
hereof to sub-clauses 3.2, 4.13 and 4.20 of the Agreement:-

 

 

‘19 shall serve such
confirmatory notice on Ronagold by no later than 30 days prior to first
transmission of the first programme in the Series in question, whether or not
any formal agreement in respect of the relevant Television Rights has yet been
concluded, and if 19 fails to serve such notice prior to 90 days prior to first
transmission of the first programme in the Series in question, Ronagold shall
be entitled (but not obliged) to treat such notice as having been served. In
any event, 19 shall send to Ronagold all available information regarding the
Series as soon as the same is available without prejudice to Ronagold’s right
to proceed as aforesaid.’

 

8C.          The
words ‘if available’ shall be deemed inserted with effect from the date hereof
in sub-clauses 3.2(b),4.13(b) and 4.20(b) of the Agreement, in each case after
the word ‘same’ and before the parenthesis.

 

9.             (a)            For the avoidance of
doubt Ronagold and/or Ronagold’s ROW Designee shall be entitled in relation to
any compilation album and Group Single(s) to which it acquires rights hereunder
to (i) refer to the title of the Series on the packaging of Records embodying
the same and in all promotional and marketing materials therefor and (ii) to
incorporate the Series logo on the packaging of all Records embodying such
compilation album/Group Single, and in all promotional and marketing materials
therefor.

 

(b)           In
the event that Ronagold does not exercise its rights to acquire the Third
Series compilation album or the Fourth Series compilation album in the UK then
19 may offer rights in the applicable compilation album to third parties but 19
may not grant rights in respect of any such album to any third party on terms
which are less favourable to 19 in any respect unless it first gives Ronagold
(by notice in writing) the opportunity to match the terms upon which it
proposes to grant the said rights, and in the event that Ronagold (by notice in
writing) so matches such terms within 10 days of receipt of 19’s notice 19
shall promptly enter into an agreement with Ronagold pursuant to which 19 shall
grant such rights to Ronagold upon such terms. In the event that Ronagold
declines to match such terms, 19 shall procure that the release of the
applicable compilation shall not take place within the period commencing on the
date 3 months prior to, and ending on the date 3 months after, any release by
Ronagold of an album embodying performances by the winner from the applicable
Series; 19 shall procure that neither the applicable compilation album nor any
Group Single shall be released in the week of release of any single embodying
performances by the winner of the applicable Series; and 19 shall procure that
the names and likenesses of artists in respect of whom Ronagold exercises its
option pursuant to the Agreement shall not, in the packaging and marketing of
the applicable compilation, be given more prominence than the other artists
featured thereon.

 

 

10.           INTENTIONALLY
DELETED.

 

11.           INTENTIONALLY
DELETED.

 

12.           INTENTIONALLY
DELETED.

 

13.           With
effect from signature hereof, a new clause 14 shall be deemed inserted into the
Agreement as follows:

 

‘It is acknowledged and agreed that all option notices
to be served by 19 upon all ROW Designees shall be served by 19 upon the
applicable ROW Designee but with a copy of each notice being simultaneously
sent to Ronagold, and that the applicable ROW Designee shall be the entity
which serves the applicable notice (rather than Ronagold) on 19 to exercise the
applicable option, which 19 agrees shall be a valid exercise thereof.’

 

14.           Save
as varied hereby the Agreement shall remain in full force and effect.

 

15.           This
agreement shall be governed by the laws of England whose courts shall have
exclusive jurisdiction.

 

If the above correctly reflects your understanding of our agreement
please sign where indicated below.

 

 

	
  Yours faithfully

  	
  Accepted and
  Agreed

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ 

  	
   

  	
  /s/ 

  	
   

  
	
  For and on
  behalf of Ronagold Limited

  	
  For and on behalf
  of 19 Recordings LimitedEXHIBIT 4.5

 

FIRST
UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS

 

TO

 

[Name
of Indenture Trustee]

 

Indenture
Trustee

 

 

Indenture

 

Dated
as of                 ,
       

 

 

Debt
Securities

 

 

CROSS-REFERENCE
TABLE*

 

	
  Trust Indenture

  	
   

  	
   

  
	
  Act Section

  	
   

  	
  Indenture Section

  
	
   

  	
   

  	
   

  
	
  310(a)(1)

  	
   

  	
   

  	
  6.07

  
	
  (a)(2)

  	
   

  	
   

  	
  6.07

  
	
  (a)(3)

  	
   

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
   

  	
  N.A.

  
	
  (a)(5)

  	
   

  	
   

  	
  6.07

  
	
  (b)

  	
   

  	
   

  	
  6.04, 6.07, 6.08

  
	
  (c)

  	
   

  	
   

  	
  N.A.

  
	
  311(a)

  	
   

  	
   

  	
  6.04

  
	
  311(b)

  	
   

  	
   

  	
  6.04

  
	
  311(c)

  	
   

  	
   

  	
  N.A.

  
	
  312(a)

  	
   

  	
   

  	
  7.04

  
	
  (b)

  	
   

  	
   

  	
  7.01

  
	
  (c)

  	
   

  	
   

  	
  7.01

  
	
  313(a)

  	
   

  	
   

  	
  7.02

  
	
  (b)

  	
   

  	
   

  	
  7.02

  
	
  (c)

  	
   

  	
   

  	
  7.02

  
	
  (d)

  	
   

  	
   

  	
  7.02

  
	
  314(a)

  	
   

  	
   

  	
  7.03, 10.09

  
	
  (b)

  	
   

  	
   

  	
  N.A.

  
	
  (c)(1)

  	
   

  	
   

  	
  1.02

  
	
  (c)(2)

  	
   

  	
   

  	
  1.02

  
	
  (c)(3)

  	
   

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
   

  	
  1.02

  
	
  (f)

  	
   

  	
   

  	
  N.A.

  
	
  315(a)

  	
   

  	
   

  	
  3.03, 6.02

  
	
  (b)

  	
   

  	
   

  	
  6.01, 6.02

  
	
  (c)

  	
   

  	
   

  	
  6.02

  
	
  (d)

  	
   

  	
   

  	
  6.02

  
	
  (e)

  	
   

  	
   

  	
  5.15

  
	
  316(a) (last
  sentence)

  	
   

  	
   

  	
  1.01
  (Outstanding)

  
	
  (a)(1)(A)

  	
   

  	
   

  	
  5.02, 5.12

  
	
  (a)(1)(B)

  	
   

  	
   

  	
  5.13

  
	
  (a)(2)

  	
   

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
   

  	
  5.08

  
	
  (c)

  	
   

  	
   

  	
  1.04

  
	
  317(a)(1)

  	
   

  	
   

  	
  5.03

  
	
  (a)(2)

  	
   

  	
   

  	
  5.04

  
	
  (b)

  	
   

  	
   

  	
  10.03

  
	
  318(a)

  	
   

  	
   

  	
  1.11

  
	
  318(b)

  	
   

  	
   

  	
  N.A.

  
	
  318(c)

  	
   

  	
   

  	
  1.11

  

 

2

 

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

 

N.A. mean not applicable.

 

Attention should also be
directed to Section 318(c) of the Trust Indenture Act, which provides
that the provisions of Sections 310 to and including 317 of the Trust Indenture
Act are a part of and govern every qualified indenture, whether or not
physically contained therein.

 

3

 

TABLE OF CONTENTS

 

	
  ARTICLE I

  	
  DEFINITIONS
  AND OTHER PROVISIONS OF GENERAL APPLICATION

  	
   

  
	
  Section 1.01.

  	
  Definitions

  	
   

  
	
  Section 1.02.

  	
  Compliance
  Certificates and Opinions

  	
   

  
	
  Section 1.03.

  	
  Form of
  Documents Delivered to Indenture Trustee

  	
   

  
	
  Section 1.04.

  	
  Acts
  of Holders

  	
   

  
	
  Section 1.05.

  	
  Notices,
  Etc., to Indenture Trustee and Company

  	
   

  
	
  Section 1.06.

  	
  Notice
  to Holders; Waivers

  	
   

  
	
  Section 1.07.

  	
  Counterparts: Effect of Headings and
  Table of Contents

  	
   

  
	
  Section 1.08.

  	
  Successors and Assigns

  	
   

  
	
  Section 1.09.

  	
  Severability Clause

  	
   

  
	
  Section 1.10.

  	
  Benefits of Indenture

  	
   

  
	
  Section 1.11.

  	
  Governing Law

  	
   

  
	
  Section 1.12.

  	
  Legal Holidays

  	
   

  
	
  Section 1.13.

  	
  Immunity of Shareholders, Trustees,
  Officers and Agents of the Company

  	
   

  
	
  Section 1.14.

  	
  Incorporation by Reference of Trust
  Indenture Act; Conflict with Trust Indenture Act

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  SECURITIES
  FORMS

  	
   

  
	
  Section 2.01.

  	
  Forms
  of Securities

  	
   

  
	
  Section 2.02.

  	
  Form of
  Indenture Trustee’s Certificate of Authentication

  	
   

  
	
  Section 2.03.

  	
  Securities
  Issuable in Global Form

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  THE
  SECURITIES

  	
   

  
	
  Section 3.01.

  	
  Amount
  Unlimited; Issuable in Series

  	
   

  
	
  Section 3.02.

  	
  Denominations

  	
   

  
	
  Section 3.03.

  	
  Execution,
  Authentication, Delivery and Dating

  	
   

  
	
  Section 3.04.

  	
  Temporary
  Securities

  	
   

  
	
  Section 3.05.

  	
  Registration,
  Registration of Transfer and Exchange

  	
   

  
	
  Section 3.06.

  	
  Mutilated, Destroyed, Lost and
  Stolen Securities

  	
   

  
	
  Section 3.07.

  	
  Payment of Interest: Interest Rights
  Preserved

  	
   

  
	
  Section 3.08.

  	
  Persons Deemed Owners

  	
   

  
	
  Section 3.09.

  	
  Cancellation

  	
   

  
	
  Section 3.10.

  	
  Computation of Interest

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  SATISFACTION
  AND DISCHARGE

  	
   

  
	
  Section 4.01.

  	
  Satisfaction and Discharge of
  Indenture

  	
   

  
	
  Section 4.02.

  	
  Application of Trust Funds

  	
   

  
				

 

4

 

	
  ARTICLE V

  	
  REMEDIES

  	
   

  
	
  Section 5.01.

  	
  Events of Default

  	
   

  
	
  Section 5.02.

  	
  Acceleration of Maturity: Rescission
  and Annulment

  	
   

  
	
  Section 5.03.

  	
  Collection of Indebtedness and Suits
  for Enforcement by Indenture Trustee

  	
   

  
	
  Section 5.04.

  	
  Indenture Trustee May File
  Proofs of Claim

  	
   

  
	
  Section 5.05.

  	
  Indenture Trustee May Enforce
  Claims Without Possession of Securities or Coupons

  	
   

  
	
  Section 5.06.

  	
  Application of Money Collected

  	
   

  
	
  Section 5.07.

  	
  Limitation on Suits

  	
   

  
	
  Section 5.08.

  	
  Unconditional Right of Holders to
  Receive Principal, Premium, if any, Interest and Additional Amounts

  	
   

  
	
  Section 5.09.

  	
  Restoration of Rights and Remedies

  	
   

  
	
  Section 5.10.

  	
  Rights and Remedies Cumulative

  	
   

  
	
  Section 5.11.

  	
  Delay or Omission Not Waiver

  	
   

  
	
  Section 5.12.

  	
  Control by Holders of Securities

  	
   

  
	
  Section 5.13.

  	
  Waiver of Past Defaults

  	
   

  
	
  Section 5.14.

  	
  Waiver of Usury, Stay or Extension
  Laws

  	
   

  
	
  Section 5.15.

  	
  Undertaking for Costs

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
  THE INDENTURE TRUSTEE

  	
   

  
	
  Section 6.01.

  	
  Notice of Defaults

  	
   

  
	
  Section 6.02.

  	
  Certain Rights of Indenture Trustee

  	
   

  
	
  Section 6.03.

  	
  Not Responsible for Recitals or
  Issuance of Securities

  	
   

  
	
  Section 6.04.

  	
  May Hold Securities

  	
   

  
	
  Section 6.05.

  	
  Money Held in Trust

  	
   

  
	
  Section 6.06.

  	
  Compensation and Reimbursement

  	
   

  
	
  Section 6.07.

  	
  Corporate Indenture Trustee Required;
  Eligibility; Conflicting Interests.

  	
   

  
	
  Section 6.08.

  	
  Resignation and Removal; Appointment
  of Successor

  	
   

  
	
  Section 6.09.

  	
  Acceptance of Appointment by
  Successor

  	
   

  
	
  Section 6.10.

  	
  Merger, Conversion, Consolidation or
  Succession to Business

  	
   

  
	
  Section 6.11.

  	
  Appointment of Authenticating Agent

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
  HOLDERS’ LISTS AND REPORTS BY
  INDENTURE TRUSTEE AND COMPANY

  	
   

  
	
  Section 7.01.

  	
  Disclosure of Names and Addresses of
  Holders

  	
   

  
	
  Section 7.02.

  	
  Reports by Indenture Trustee

  	
   

  
	
  Section 7.03.

  	
  Reports by Company

  	
   

  
	
  Section 7.04.

  	
  Company to Furnish Indenture Trustee
  Names and Addresses of Holders

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
  CONSOLIDATION, MERGER, SALE,
  LEASE OR CONVEYANCE

  	
   

  
	
  Section 8.01.

  	
  Consolidations and Mergers of Company
  and Sales, Leases and Conveyances Permitted Subject to Certain Conditions

  	
   

  
	
  Section 8.02.

  	
  Rights and Duties of Successor
  Corporation

  	
   

  
	
  Section 8.03.

  	
  Officers’ Certificate and Opinion of
  Counsel

  	
   

  
				

 

5

 

	
  ARTICLE IX

  	
  SUPPLEMENTAL INDENTURES

  	
   

  
	
  Section 9.01.

  	
  Supplemental Indentures Without
  Consent of Holders

  	
   

  
	
  Section 9.02.

  	
  Supplemental Indentures with Consent
  of Holders

  	
   

  
	
  Section 9.03.

  	
  Execution of Supplemental Indentures

  	
   

  
	
  Section 9.04.

  	
  Effect of Supplemental Indentures

  	
   

  
	
  Section 9.05.

  	
  Conformity with Trust Indenture Act

  	
   

  
	
  Section 9.06.

  	
  Reference in Securities to
  Supplemental Indentures

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE X 

  	
  COVENANTS

  	
   

  
	
  Section 10.01.

  	
  Payment of Principal, Premium, if
  any; Interest and Additional Amounts

  	
   

  
	
  Section 10.02.

  	
  Maintenance of Office or Agency

  	
   

  
	
  Section 10.03.

  	
  Money for Securities Payments to Be
  Held in Trust

  	
   

  
	
  Section 10.04.

  	
  Existence

  	
   

  
	
  Section 10.05.

  	
  Maintenance of Properties

  	
   

  
	
  Section 10.06.

  	
  Insurance

  	
   

  
	
  Section 10.07.

  	
  Payment of Taxes and Other
  Claims

  	
   

  
	
  Section 10.08.

  	
  Provision of Financial
  Information

  	
   

  
	
  Section 10.09.

  	
  Statement as to Compliance

  	
   

  
	
  Section 10.10.

  	
  Additional Amounts

  	
   

  
	
  Section 10.11.

  	
  Waiver of Certain Covenants

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI

  	
  REDEMPTION OF SECURITIES

  	
   

  
	
  Section 11.01.

  	
  Applicability of Article

  	
   

  
	
  Section 11.02.

  	
  Election to Redeem; Notice to
  Indenture Trustee

  	
   

  
	
  Section 11.03.

  	
  Selection by Indenture
  Trustee of Securities to Be Redeemed

  	
   

  
	
  Section 11.04.

  	
  Notice of Redemption

  	
   

  
	
  Section 11.05.

  	
  Deposit of Redemption Price

  	
   

  
	
  Section 11.06.

  	
  Securities Payable on
  Redemption Date

  	
   

  
	
  Section 11.07.

  	
  Securities Redeemed in Part

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XII

  	
  SINKING FUNDS

  	
   

  
	
  Section 12.01.

  	
  Applicability of Article

  	
   

  
	
  Section 12.02.

  	
  Satisfaction of Sinking Fund
  Payments with Securities

  	
   

  
	
  Section 12.03.

  	
  Redemption of Securities for
  Sinking Fund

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XIII

  	
  REPAYMENT AT THE OPTION OF
  HOLDERS

  	
   

  
	
  Section 13.01.

  	
  Applicability of Article

  	
   

  
	
  Section 13.02.

  	
  Repayment of Securities

  	
   

  
	
  Section 13.03.

  	
  Exercise of Option

  	
   

  
	
  Section 13.04.

  	
  When Securities Presented for
  Repayment Become Due and Payable

  	
   

  
	
  Section 13.05.

  	
  Securities Repaid in Part

  	
   

  
				

 

6

 

	
  ARTICLE XIV

  	
  DEFEASANCE AND COVENANT
  DEFEASANCE

  	
   

  
	
  Section 14.01.

  	
  Applicability of Article;
  Company’s Option to Effect Defeasance or Covenant Defeasance

  	
   

  
	
  Section 14.02.

  	
  Defeasance and Discharge

  	
   

  
	
  Section 14.03.

  	
  Covenant Defeasance

  	
   

  
	
  Section 14.04.

  	
  Conditions to Defeasance or
  Covenant Defeasance

  	
   

  
	
  Section 14.05.

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

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XV

  	
  MEETINGS OF HOLDERS OF
  SECURITIES

  	
   

  
	
  Section 15.01.

  	
  Purposes for Which Meetings May Be
  Called

  	
   

  
	
  Section 15.02.

  	
  Call, Notice and Place of
  Meetings

  	
   

  
	
  Section 15.03.

  	
  Persons Entitled to Vote at
  Meetings

  	
   

  
	
  Section 15.04.

  	
  Quorum; Action

  	
   

  
	
  Section 15.05.

  	
  Determination of Voting
  Rights; Conduct and Adjournment of Meetings

  	
   

  
	
  Section 15.06.

  	
  Counting Votes and Recording
  Action of Meetings

  	
   

  
				

 

7

 

INDENTURE, dated as of              ,
  , between FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS,
an unincorporated association in the form of a business trust organized under
the laws of the State of Ohio (hereinafter called the “Company”), having its
principal office at 7 Bulfinch Place, Suite 500, Boston,
Massachusetts  02114, and [NAME OF
INDENTURE TRUSTEE], a corporation organized under the laws of               
as Indenture Trustee hereunder (hereinafter called the “Indenture Trustee”),
having its Corporate Trust Office at                    .

 

RECITALS
OF THE COMPANY

 

The
Company deems it necessary to issue from time to time for its lawful purposes
debt securities (hereinafter called the “Securities”) evidencing its
indebtedness, and has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of the Securities, to
be issued in one or more Series as provided in this Indenture.

 

This
Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended, that are deemed to be incorporated into this Indenture and shall, to
the extent applicable, be governed by such provisions.

 

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

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

For
and in consideration of the premises and the purchase of the Securities by the
Holders thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all Holders of the Securities, as follows:

 

ARTICLE I

 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION

 

Section 1.01.                         Definitions.

 

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

 

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

 

(2) all
other terms used herein which are defined in the TIA (as defined), either
directly or by reference therein, have the meanings assigned to them therein,
and the terms “cash transaction” and “self-liquidating paper,” as used in TIA Section 311,
shall have the meanings assigned to them in the rules of the Commission
adopted under the TIA;

 

8

 

(3) all
accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP; and

 

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

 

“Act,” when used with respect to any Holder, has the meaning
specified in Section 1.04.

 

“Additional Amounts” means any additional amounts which are
required by a Security or by or pursuant to a Board Resolution, under
circumstances specified therein, to be paid by the Company in respect of
certain taxes imposed on certain Holders and which are owing to such Holders.

 

“Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.

 

“Authenticating Agent” means any Person authorized by the
Indenture Trustee pursuant to Section 6.11 hereof to act on behalf of the
Indenture Trustee to authenticate Securities.

 

“Authorized Newspaper” means a newspaper, printed in the
English language or in an official language of the country of publication,
customarily published on each Business Day, whether or not published on
Saturdays, Sundays or holidays, and of general circulation in each place in
connection with which the term is used or in the financial community of each
such place.  Whenever successive
publications are required to be made in Authorized Newspapers, the successive
publications may be made in the same or in different Authorized Newspapers in
the same city meeting the foregoing requirements and in each case on any
Business Day.

 

“Bankruptcy Law” has the meaning specified in Section 5.01.

 

“Bearer Security” means any Security established pursuant to Section 2.01
which is payable to bearer.

 

“Board of Trustees” means the board of trustees of the
Company or any committee of that board duly authorized to act hereunder.

 

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

 

“Business Day,” when used with respect to any Place of
Payment or any other particular location referred to in this Indenture or in
the Securities, means, unless otherwise specified with respect to any
Securities pursuant to Section 3.01, any day, other than a Saturday or
Sunday, that is not a day on which banking institutions in that Place of
Payment or particular location are authorized or required by law, regulation or
executive order to close.

 

9

 

“CEDEL” means Centrale de Livraison de Valeurs Mobilieres, S.A.,
or its successor.

 

“Commission” means the Securities and Exchange Commission, as
from time to time constituted, created under the Securities Exchange Act of
1934, or, if at any time after execution of this instrument such Commission is
not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties on such date.

 

“Common Shares” means, with respect to any Person, all shares
of capital stock or beneficial interest, as applicable, issued by such Person
other than Preferred Stock or Preferred Shares, as applicable, or Excess Stock
or Excess Shares, as applicable.

 

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

 

“Company Request” and “Company Order” mean, respectively, a
written request or order signed in the name of the Company by its Chairman of
the Board, President or a Vice President, and by its Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and
delivered to the Indenture Trustee.

 

“Conversion Event” means the cessation of use of (i) a Foreign
Currency both by the government of the country which issued such currency and
for the settlement of transactions by a central bank or other public
institutions of or within the international banking community, (ii) the
ECU both within the European Monetary System and for the settlement of
transactions by public institutions of or within the European Communities or (iii) any
currency unit (or composite currency) other than the ECU for the purposes for
which it was established.

 

“Corporate Trust Office” means the office of the Indenture
Trustee at which, by any particular time, its corporate trust business shall be
principally administered, which office at the date hereof is located at               .

 

“corporation” includes corporations, associations, limited
liability companies, partnerships, trusts, business trusts, statutory trusts
and real estate investment trusts.

 

“coupon” means any interest coupon appertaining to a Bearer
Security.

 

“Custodian”
has the meaning specified in Section 5.01.

 

“Defaulted
Interest” has the meaning specified in Section 3.07.

 

“Dollar”
or “$” means a dollar or other equivalent
unit in such coin or currency of the United States of America as at the time
shall be legal tender for the payment of public and private debts.

 

“DTC” has the meaning specified in Section 3.04.

 

“ECU” means the European Currency Unit as defined and revised
from time to time by the Council of the European Communities.

 

“Euroclear” means Morgan Guaranty Trust Company of New York,
Brussels office, or its successor as operator of the Euroclear System.

 

10

 

“European Communities” means the European Economic Community,
the European Coal and Steel Community and the European Atomic Energy Community.

 

“European
Monetary System” means the
European Monetary System established by the Resolution of December 5, 1978
of the Council of the European Communities.

 

“Event of Default” has the meaning specified in Section 5.01.

 

“Foreign Currency” means any currency, currency unit or
composite currency, including, without limitation, the ECU issued by the
government of one or more countries other than the United States of America or
by any recognized confederation or association of such governments.

 

“GAAP” means generally accepted accounting principles, as in
effect from time to time, as used in the United States applied on a consistent
basis.

 

“Global Security” means a Security evidencing all or a part
of a series of Securities issued to and registered in the name of the depositary for such
series, or its nominee, in accordance with Section 3.05, and bearing the
legend prescribed in Section 2.03.

 

“Government Obligations” means securities which are (i) direct
obligations of the United States of America or the government which issued the
Foreign Currency in which the Securities of a particular series are payable,
for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America or such government which issued
the Foreign Currency in which the Securities of such series are payable, the
payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America or such other government, which, in
either case, are not callable or redeemable at the option of the issuer
thereof, and shall also include a depository receipt issued by a bank or trust
company as custodian with respect to any such Government Obligation or a
specific payment of interest on or principal of any such Government Obligation
held by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the Government
Obligation or the specific payment of interest on or principal of the
Government Obligation evidenced by such depository receipt.

 

“Holder” means, in the case of a Registered Security, the
Person in whose name a Security is registered in the Security Register and, in
the case of a Bearer Security, the bearer thereof and, when used with respect
to any coupon, shall mean the bearer thereof.

 

“Indenture” means this instrument as originally executed or
as it may be supplemented or amended from time to time by one or more
indentures supplemental hereto entered into pursuant to the applicable
provisions hereof, and shall include the terms of particular series of
Securities established as contemplated by Section 3.01; provided, however,
that, if at any time more than one Person is acting as Indenture Trustee under
this instrument, “Indenture” shall mean, with respect to any one or more series
of Securities for which such Person is Indenture Trustee, this instrument as
originally executed or as it may be supplemented or amended from time to time
by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and shall include the terms of the or those
particular series of

 

11

 

Securities for which such
Person is Indenture Trustee established as contemplated by Section 3.01,
exclusive, however, of any provisions or terms which relate solely to other
series of Securities for which such Person is Indenture Trustee, regardless of
when such terms or provisions were adopted, and exclusive of any provision or
terms adopted by means of one or more indentures supplemental hereto executed
and delivered after such Person had become such Indenture Trustee but to which
such Person, as such Indenture Trustee, was not a party.

 

“Indexed Security” means a Security the terms of which
provide that the principal amount thereof payable at Stated Maturity may be
more or less than the principal face amount thereof at original issuance.

 

“Interest,” when used with respect to an Original Issue
Discount Security which by its terms bears interest only after Maturity, shall
mean interest payable after Maturity, and, when used with respect to a Security
which provides for the payment of Additional Amounts pursuant to Section 10.10,
includes such Additional Amounts.

 

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

 

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

 

“Officers’ Certificate” means a certificate signed by the
Chairman of the Board of Trustees, the President or a Vice President and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, and delivered to the Indenture Trustee.

 

“Opinion of Counsel” means a written opinion of counsel, who
may be counsel for the Company or who may be an employee of or other counsel
for the Company and who shall be reasonably satisfactory to the Indenture
Trustee.

 

“Original
Issue Discount Security”
means any Security which provides for an amount less than the principal amount
thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 5.02.

 

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

 

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

 

(ii) Securities,
or portions thereof, for whose payment or redemption (including repayment at
the option of the Holder) money in the necessary amount has been theretofore
deposited with the Indenture Trustee or any Paying Agent (other than the
Company) in trust or set aside and segregated in trust by the Company (if the
Company shall act as its own Paying Agent) for the Holders of such Securities
and any coupons appertaining thereto; provided, however, that, if such
Securities are to be redeemed, notice of such redemption has been duly given
pursuant to this Indenture or provision therefor satisfactory to the Indenture
Trustee has been made;

 

12

 

(iii) Securities,
except to the extent provided in Sections 14.02 and 14.03, with respect to
which the Company has effected defeasance and/or covenant defeasance as
provided in Article XIV;

 

(iv) Securities
which have been paid pursuant to Section 3.06 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant
to this Indenture, other than any such Securities in respect of which there
shall have been presented to the Indenture Trustee proof satisfactory to it
that such Securities are held by a protected purchaser in whose hands such
Securities are valid obligations of the Company; and

 

(v) Securities
converted into Common Shares or Preferred Shares pursuant to or in accordance
with this Indenture if the terms of such Securities provide for convertibility
pursuant to Section 3.01;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of the Outstanding
Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder or are present at a meeting of Holders for quorum
purposes, and for the purpose of making the calculations required by TIA Section 3.03,
(i) the principal amount of an Original Issue Discount Security that may
be counted in making such determination or calculation and that shall be deemed
to be Outstanding for such purpose shall be equal to the amount of principal
thereof that would be (or shall have been declared to be) due and payable, at
the time of such determination, upon a declaration of acceleration of the
maturity thereof pursuant to Section 5.02, (ii) the principal amount
of any Security denominated in a Foreign Currency that may be counted in making
such determination or calculation and that shall be deemed Outstanding for such
purpose shall be equal to the Dollar equivalent, determined pursuant to Section 3.01
as of the date such Security is originally issued by the Company, of the principal
amount (or, in the case of an Original Issue Discount Security, the Dollar
equivalent as of such date of original issuance of the amount determined as
provided in clause (i) above) of such Security, (iii) the principal
amount of any Indexed Security that may be counted in making such determination
or calculation and that shall be deemed outstanding for such purpose shall be
equal to the principal face amount of such Indexed Security at original
issuance, unless otherwise provided with respect to such Security pursuant to Section 3.01,
and (iv) Securities owned by the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether
the Indenture Trustee shall be protected in making such calculation or in
relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which the Indenture Trustee knows to be
owned shall be so disregarded. Securities owned as provided in clause (iv) above
which have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the reasonable satisfaction of the Indenture Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee
is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor. In case of a dispute as to such right,
the advice of counsel shall be full protection in respect of any decision made
by the Indenture Trustee in accordance with such advice.

 

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

 

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

 

13

 

“Place of Payment,” when used with respect to the Securities
of or within any series, means the place or places where the principal of (and
premium, if any) and interest on such Securities are payable as specified as
contemplated by Sections 3.01 and 10.02.

 

“Predecessor Security” of any particular Security means every
previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this
definition, any Security authenticated and delivered under Section 3.06 in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Security or a
Security to which a mutilated, destroyed, lost or stolen coupon appertains
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or
stolen Security or the Security to which the mutilated, destroyed, lost or
stolen coupon appertains.

 

“Preferred Shares” means, with respect to any Person, all
shares of beneficial interest or capital stock, as applicable, issued by such
Person that is entitled to a preference or priority over any other shares of
beneficial interest or capital stock, as applicable, issued by such Person with
respect to any distribution of such Person’s assets, whether by dividend or
upon any voluntary or involuntary liquidation, dissolution or winding up.

 

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

 

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

 

“Registered Security” shall mean any Security which is
registered in the Security Register.

 

“Regular Record Date” for the interest payable on any
Interest Payment Date on the registered Securities of or within any series
means the date specified for that purpose as contemplated by Section 3.01,
whether or not a Business Day.

 

“Repayment Date” means, when used with respect to any
Security to be repaid at the option of the Holder, the date fixed for such
repayment by or pursuant to this Indenture.

 

“Repayment Price” means, when used with respect to any
Security to be repaid at the option of the Holder, the price at which it is to
be repaid by or pursuant to this Indenture.

 

“Responsible Officer,” when used with respect to the
Indenture Trustee, means the chairman or vice-chairman of the board of
directors, the chairman or vice-chairman of the executive committee of the
board of directors, the president, any vice president (whether or not
designated by a number or a word or words added before or after the title “vice
president”), assistant cashier, any financial services officer or assistant
financial services officer, the controller or any other officer of the
Indenture Trustee customarily performing functions similar to those performed
by any of the above designated officers and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is
referred because of such officer’s knowledge and familiarity with the
particular subject.

 

“Security” has the meaning stated in the first recital of
this Indenture and, more particularly, means any Security or Securities
authenticated and delivered under this Indenture;

 

14

 

provided, however, that, if
at any time there is more than one Person acting as Indenture Trustee under
this Indenture, “Securities” with respect to the Indenture as to which such Person
is Indenture Trustee shall have the meaning stated in the first recital of this
Indenture and shall more particularly mean Securities authenticated and
delivered under this Indenture, exclusive, however, of Securities of any series
as to which such Person is not Indenture Trustee.

 

“Security Register” and “Security Registrar”
have the respective meanings specified in Section 3.05.

 

“Significant Subsidiary” means any Subsidiary which is a “significant
subsidiary” (as defined in Article I, Rule 1-02 of Regulation
S-X, promulgated under the Securities Act of 1933) of the Company.

 

“Special Record Date” for the payment of any Defaulted
Interest on the Registered Securities of or within any Series means a date
fixed by the Indenture Trustee pursuant to the provisions of Section 3.07.

 

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

 

“Subsidiary” means a corporation a majority of the
outstanding voting equity securities of which is owned, directly or indirectly,
by the Company or by one or more other Subsidiaries of the Company. For the
purposes of this definition, “equity securities” means stock or shares having
voting power for the election of directors or trustees, as applicable, whether
at all times or only so long as no senior class of stock or shares has such
voting power by reason of any contingency.

 

“Trust Indenture Act” or “TIA”
means the Trust Indenture Act of 1939, as amended and as in force at the date
as of which this Indenture was executed, except as provided in Section 9.05.

 

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

 

“United States” means, unless otherwise specified with
respect to any Securities pursuant to Section 3.01, the United States of
America (including the states and the District of Columbia), its territories,
its possessions and other areas subject to its jurisdiction.

 

“United States Person” means, unless otherwise specified with
respect to any Securities pursuant to Section 3.01, an individual who is a
citizen or resident of the United States, a corporation, partnership or other
entity created or organized in or under the laws of the United States or an
estate or trust the income of which is subject to United States Federal income
taxation regardless of its source.

 

15

 

“Yield to Maturity” means the yield to maturity, computed at
the time of issuance of a Security (or, if applicable, at the most recent
redetermination of interest on such Security) and as set forth in such Security
in accordance with generally accepted United States bond yield computation
principles.

 

Section 1.02.                         Compliance
Certificates and Opinions.

 

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

 

Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (including certificates delivered pursuant to Section 10.09)
shall include:

 

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

 

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

 

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

 

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

 

Section 1.03.                         Form of
Documents Delivered to Indenture Trustee.

 

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

 

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

 

16

 

by, an officer or officers
of the Company stating that the information as to such factual matters is in
the possession of the Company, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to such matters are erroneous.

 

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

 

Section 1.04.                         Acts
of Holders.

 

(a)                                  Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of the
Outstanding Securities of all series or one or more series, as the case may be, may be embodied in and evidenced
by one or more instruments of substantially similar tenor signed by such
Holders in person or by agents duly appointed in writing. If Securities of a
series are issuable as Bearer Securities, any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture
to be given or taken by Holders of Securities of such series may,
alternatively, be embodied in and evidenced by the record of Holders of
Securities of such series voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders of Securities of
such series duly called and held in accordance with the provisions of Article XV,
or a combination of such instruments and any such record. Except as herein
otherwise expressly provided, such action shall become effective when such
instrument or instruments or record or both are delivered to the Indenture
Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments and any such record (and the action embodied therein
and evidenced thereby) are herein sometimes referred to as the “Act” of the
Holders signing such instrument or instruments or so voting at any such
meeting. Proof of execution of any such instrument or of a writing appointing
any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and conclusive in favor of the
Indenture Trustee and the Company and any agent of the Indenture Trustee or the
Company, if made in the manner provided in this Section 1.04. The record
of any meeting of Holders of Securities shall be proved in the manner provided
in Section 15.06.

 

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

 

(c)                                  The ownership of Registered Securities shall
be proved by the Security Register. As to any matter relating to beneficial
ownership interests in any Global Security, the appropriate depository’s
records shall be dispositive for purposes of this Indenture.

 

(d)                                 The ownership of Bearer Securities may be
proved by the production of such Bearer Securities or by a certificate
executed, as depository, by any trust company, bank, banker or other
depository, wherever situated, if such certificate shall be deemed by the
Indenture

 

17

 

Trustee to be satisfactory,
showing that at the date therein mentioned such Person had on deposit with such
depository, or exhibited to it, the Bearer Securities therein described; or
such facts may be proved by the certificate or affidavit of the Person holding
such Bearer Securities, if such certificate or affidavit is deemed by the
Indenture Trustee to be satisfactory. The Indenture Trustee and the Company may
assume that such ownership of any Bearer Security continues until (1) another
certificate or affidavit bearing a later date issued in respect of the same
Bearer Security is produced, or (2) such Bearer Security is produced to
the Indenture Trustee by some other Person, or (3) such Bearer Security is
surrendered in exchange for a Registered Security, or (4) such Bearer
Security is no longer Outstanding. The ownership of Bearer Securities may also
be proved in any other manner which the Indenture Trustee deems sufficient.

 

(e)                                  If the Company shall solicit from the Holders
of Registered Securities any request, demand, authorization, direction, notice,
consent or waiver or other Act, the Company may, at its option, in or pursuant
to a Board Resolution, fix in advance a record date for the determination of
Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation
to do so. Notwithstanding TIA Section 316(c), such record date shall be
the record date specified in or pursuant to such Board Resolution, which shall
be a date not earlier than the date 15 days prior to the first solicitation of
Holders generally in connection therewith and not later than the date such
solicitation is completed. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent or waiver or other Act may be
given before or after such record date, but only the Holders of record at the
close of business on such record date shall be deemed to be Holders for the
purposes of determining whether Holders of the requisite proportion of
outstanding Securities have authorized or agreed or consented to such request,
demand, authorization, direction, notice, consent, waiver or other Act, and for
that purpose the Outstanding Securities shall be computed as of such record
date; provided that no such authorization, agreement or consent by the Holders
on such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than eleven months after
the record date.

 

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

 

Section 1.05.                         Notices,
Etc., to Indenture Trustee and Company.

 

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

 

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

 

(2)                                  the Company by the Indenture Trustee or by
any Holder shall be sufficient for every purpose hereunder (unless otherwise
herein expressly provided) if in writing and mailed, first class postage
prepaid, to the Company addressed to it at the address of its principal office

 

18

 

specified in the first
paragraph of this Indenture or at any other address previously furnished in
writing to the Indenture Trustee by the Company, Attention: President (with a
copy to the Company’s counsel), or

 

(3)                                  either the Indenture Trustee or the Company,
by the other party, shall be sufficient for every purpose hereunder if given by
facsimile transmission, receipt confirmed by telephone followed by an original
copy delivered by guaranteed overnight courier; if to the Indenture Trustee at
facsimile number (   )              ;
and if to the Company at facsimile number (   )              .

 

Section 1.06.                         Notice
to Holders; Waivers.

 

When this Indenture
provides for notice of any event to Holders of Registered Securities by the
Company or the Indenture Trustee, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each such Holder affected by such event, at his
address as it appears in the Security Register, not later than the latest date,
if any, and not earlier than the earliest date, if any, prescribed for the
giving of such notice. In any case where notice to Holders of Registered
Securities is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders of Registered
Securities or the sufficiency of any notice to Holders of Bearer Securities
given as provided herein. Any notice mailed to a Holder in the manner herein
prescribed shall be conclusively deemed to have been received by such Holder,
whether or not such Holder actually receives such notice.

 

If
by reason of the suspension of or irregularities in regular mail service or by
reason of any other cause it shall be impracticable to give such notice by
mail, then such notification to Holders of Registered Securities as shall be
made with the approval of the Indenture Trustee shall constitute a sufficient
notification to such Holders for every purpose hereunder.

 

Except
as otherwise expressly provided herein or otherwise specified with respect to
any Securities pursuant to Section 3.01, where this Indenture provides for
notice to Holders of Bearer Securities of any event, such notice shall be
sufficiently given if published in an Authorized Newspaper in The City of New
York and in such other city or cities as may be specified in such Securities on
a Business Day, such publication to be not later than the latest date, if any,
and not earlier than the earliest date, if any, prescribed for the giving of
such notice. Any such notice shall be deemed to have been given on the date of
such publication or, if published more than once, on the date of the first such
publication.

 

If
by reason of the suspension of publication of any Authorized Newspaper or
Authorized Newspapers or by reason of any other cause it shall be impracticable
to publish any notice to Holders of Bearer Securities as provided above, then
such notification to Holders of Bearer Securities as shall be given with the
approval of the Indenture Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither the failure to give notice by
publication to any particular Holder of Bearer Securities as provided above,
nor any defect in any notice so published, shall affect the sufficiency of such
notice with respect to other Holders of Bearer Securities or the sufficiency of
any notice to Holders of Registered Securities given as provided herein.

 

19

 

Any
request, demand, authorization, direction, notice, consent or waiver required
or permitted under this Indenture shall be in the English language, except that
any published notice may be in an official language of the country of
publication.

 

Where
this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after
the event, and such waiver shall be the equivalent of such notice. Waivers of
notice by Holders shall be filed with the Indenture Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

 

Section 1.07.                         Counterparts:
Effect of Headings and Table of Contents.

 

This Indenture may be
executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute
but one and the same Indenture. The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect
the construction thereof.

 

Section 1.08.                         Successors
and Assigns.

 

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

 

Section 1.09.                         Severability
Clause.

 

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

 

Section 1.10.                         Benefits
of Indenture.

 

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

 

Section 1.11.                         Governing
Law.

 

This
Indenture and the Securities and coupons shall be governed by and construed in
accordance with the internal law of the State of New York without regard to the
principles of the conflict of laws thereof. This Indenture is subject to the
provisions of the TIA that are required to be part of this Indenture and shall,
to the extent applicable, be governed by such provisions.

 

Section 1.12.                         Legal
Holidays.

 

In
any case where any Interest Payment Date, Redemption Date, Repayment Date,
sinking fund payment date, Stated Maturity or Maturity of any Security or the
last date on which a Holder has the right to convert or exchange a Security
shall not be a Business Day at any Place of Payment, then (notwithstanding any
other provision of this Indenture or any Security or coupon other than a
provision in the Securities of any series which specifically states that such
provision shall apply in lieu hereof), payment of interest or any Additional
Amounts or principal (and premium, if any) or conversion or exchange of such
security need not be made at such Place

 

20

 

of Payment on such date, but
(except as otherwise provided in the supplemental indenture with respect to
such Security) may be made on the next succeeding Business Day at such Place of
Payment with the same force and effect as if made on the Interest Payment Date,
Redemption Date, Repayment Date or sinking fund payment date, or at the Stated
Maturity or Maturity, or on such last day for conversion or exchange, provided
that no interest shall accrue on the amount so payable for the period from and
after such Interest Payment Date, Redemption Date, Repayment Date, sinking fund
payment date, Stated Maturity or Maturity, as the case may be.

 

Section 1.13.                         Immunity
of Shareholders, Trustees, Officers and Agents of the Company.  

 

No
recourse under or upon any obligation, covenant or agreement contained in this
Indenture, or in any Security, or because of any indebtedness evidenced
thereby, shall be had against any past, present or future shareholder,
beneficial owner, employee, officer or trustee, as such, of the Company or of
any successor, either directly or through the Company or any successor, under
any rule of law, statute or constitutional provision or by the enforcement
of any assessment or by any legal or equitable proceeding or otherwise, all
such liability being expressly waived and released by the acceptance of the
Securities by the Holders and as part of the consideration for the issue of the
Securities.

 

Section 1.14.                         Incorporation
by Reference of Trust Indenture Act; Conflict with Trust Indenture Act.

 

Whenever
this Indenture refers to a provision of the Trust Indenture Act, the provision
is incorporated by reference in and made a part of this Indenture. If any
provision hereof limits, qualifies or conflicts with another provision hereof
which is required or deemed to be included in this Indenture by any of the
provisions of the Trust Indenture Act, such required provision shall control.
If any provision of this Indenture modifies or excludes any provision of the
Trust Indenture Act that may be so modified or excluded, the latter provision
shall be deemed to apply to this Indenture as so modified or to be excluded, as
the case may be.

 

ARTICLE II

 

SECURITIES FORMS

 

Section 2.01.                         Forms
of Securities.

 

The
Registered Securities, if any, of each series and the Bearer Securities, if
any, of each series and related coupons shall be substantially in the form of Exhibit A
hereto or in such other form as shall be established in one or more indentures
supplemental hereto or approved from time to time by or pursuant to a Board
Resolution in accordance with Section 3.01, shall have such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture or any indenture supplemental hereto, and may have
such letters, numbers or other marks of identification or designation and such
legends or endorsements placed thereon as the Company may deem appropriate and
as are not inconsistent with the provisions of this Indenture, or as may be
required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any stock exchange on
which the Securities may be listed, or to conform to usage.

 

21

 

Unless
otherwise specified as contemplated by Section 3.01, Bearer Securities
shall have interest coupons attached.

 

The
definitive Securities and coupons shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or
steel engraved borders or mechanically reproduced on safety paper or may be
produced in any other manner, all as determined by the officers executing such
Securities or coupons, as evidenced by their execution of such Securities or
coupons.

 

Section 2.02.                         Form of
Indenture Trustee’s Certificate of Authentication.

 

Subject
to Section 6.11, the Indenture Trustee’s certificate of authentication
shall be in substantially the following form:

 

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

 

	
   

  	
  [NAME OF
  INDENTURE TRUSTEE]

  	
   

  
	
   

  	
  as Indenture Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  
					

 

Section 2.03.                         Securities
Issuable in Global Form.

 

If
Securities of or within a series are issuable in the form of one or more Global
Securities, then, notwithstanding clause (8) of Section 3.01 and the
provisions of Section 3.02, any such Global Security or Securities may
provide that it or they shall represent the aggregate amount of all Outstanding
Securities of such series (or such lesser amount as is permitted by the terms
thereof) from time to time endorsed thereon and may also provide that the
aggregate amount of Outstanding Series of such series represented thereby
may from time to time be increased or decreased to reflect exchanges.  Any endorsement of any Global Security to
reflect the amount, or any increase or decrease in the amount, or changes in
the rights of Holders thereof, of Outstanding Securities represented thereby
shall be made by the Indenture Trustee in such manner or by such Person or
Persons as shall be specified therein or in the Company Order to be delivered
to the Indenture Trustee pursuant to Section 3.03 or 3.04. Subject to the
provisions of Section 3.03 and, if applicable, Section 3.04, the
Indenture Trustee shall deliver and redeliver any Global Security in permanent
global form in the manner and upon instructions given by the Person or Persons
specified therein or in the applicable Company Order. If a Company Order pursuant
to Section 3.03 or 3.04 has been, or simultaneously is, delivered, any
instructions by the Company with respect to endorsement or delivery or
redelivery of a Global Security shall be in writing but need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel.

 

The
provisions of the last sentence of Section 3.03 shall apply to any
Security represented by a Global Security if such Security was never issued and
sold by the Company and the Company delivers to the Indenture Trustee the
Global Security together with written instructions (which need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel) with regard to the
reduction in the principal amount of Securities represented thereby, together
with the written statement contemplated by the last sentence of Section 3.03.

 

22

 

Notwithstanding
the provisions of Section 3.07, unless otherwise specified as contemplated
by Section 3.01, payment of principal of and premium, if any, and interest
on any Global Security in permanent global form shall be made to the registered
Holder thereof.

 

Notwithstanding
the provisions of Section 3.08 and except as provided in the next
preceding paragraph, the Company, the Indenture Trustee and any agent of the
Company and the Indenture Trustee shall treat as the Holder of such principal
amount of Outstanding Securities represented by a permanent Global Security (i) in
the case of a permanent Global Security in registered form, the Holder of such
permanent Global Security in registered form, or (ii) in the case of a
permanent Global Security in bearer form, Euroclear or CEDEL.

 

Any
Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form:

 

“This Security is a Global Security within the
meaning set forth in the Indenture hereinafter referred to and is registered in
the name of a Depository or a nominee of a Depository. This Security is
exchangeable for Securities registered in the name of a person other than the
Depository or its nominee only in the limited circumstances described in the
Indenture, and may not be transferred except as a whole by the Depository to a
nominee of the Depository or by a nominee of the Depository to the Depository
or another nominee of the Depository or by the Depository or its nominee to a
successor Depository or its nominee.”

 

ARTICLE III

 

THE SECURITIES

 

Section 3.01.                         Amount
Unlimited; Issuable in Series.

 

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

 

The
Securities may be issued in one or more series.  There shall be established in one or more
Board Resolutions or pursuant to authority granted by one or more Board
Resolutions and, subject to Section 3.03, set forth in an Officers’
Certificate, or established in one or more indentures supplemental hereto,
prior to the issuance of Securities of any series:

 

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

 

(2) any
limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Series authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Securities of the series pursuant to Sections 3.04, 3.05, 3.06, 9.06,
11.07 or 13.05);

 

(3) the
date or dates, or the method by which such date or dates will be determined, on
which the principal of the Securities of the series shall be payable;

 

23

 

(4) the
rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or
dates from which such interest shall accrue or the method by which such date or
dates shall be determined, the Interest Payment Dates on which such interest
will be payable and the Regular Record Date, if any, for the interest payable
on any Registered Security on any Interest Payment Date, or the method by which
such date shall be determined, and the basis upon which interest shall be
calculated if other than that of a 360-day year of twelve 30-day
months;

 

(5) the
place or places where the principal of (and premium, if any), interest, if any,
on, and Additional Amounts, if any, payable in respect of Securities of the
series shall be payable, any Registered Securities of the series may be
surrendered for registration of transfer, exchange or conversion and notices or
demands to or upon the Company in respect of the Securities of the series and
this Indenture may be served;

 

(6) the
period or periods within which, the price or prices at which, the currency or
currencies, currency unit or units or composite currency or currencies in
which, and other terms and conditions upon which Securities of the series may
be redeemed, in whole or in part, at the option of the Company, if the Company
is to have the option;

 

(7) the
obligation, if any, of the Company to redeem, repay or purchase Securities of
the series pursuant to any sinking fund or analogous provision or at the option
of a Holder thereof, and the period or periods within which or the date or
dates on which, the price or prices at which, the currency or currencies,
currency unit or units or composite currency or currencies in which, and other
terms and conditions upon which Securities of the series shall be redeemed,
repaid or purchased, in whole or in part, pursuant to such obligation;

 

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

 

(9) if
other than the Indenture Trustee, the identity of each Security Registrar
and/or Paying Agent;

 

(10) if
other than the principal amount thereof, the portion of the principal amount of
Securities of the series that shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 5.02 or, if applicable, the
portion of the principal amount of Securities of the series that is convertible
in accordance with the provisions of this Indenture, or the method by which
such portion shall be determined;

 

(11)
if other than Dollars, the Foreign Currency or Currencies in which payment of
the principal of (and premium, if any) and interest or Additional Amounts, if
any, on the Securities of the series shall be payable or in which the
Securities of the series shall be denominated and the manner of determining the
equivalent thereof in Dollars for purposes of the definition of “Outstanding”
in Section 1.01;

 

(12)
whether the amounts of payments of principal of (and premium, if any) or
interest, if any, on the Securities of the series may be determined with
reference to an index, formula or other method (which index, formula or method
may be based, without limitation, on one or more currencies, currency units,
composite currencies, commodities, equity indices or other indices), and the
manner in which such amounts shall be determined;

 

24

 

(13)
whether the principal of (and premium, if any) or interest or Additional
Amounts, if any, on the Securities of the series are to be payable, at the
election of the Company or a Holder thereof, in a currency or currencies,
currency unit or units, or composite currency or currencies other than that in
which such Securities are denominated or stated to be payable, the period or
periods within which, and the terms and conditions upon which, such election may
be made, and time and manner of, and identity of the exchange rate agent with
responsibility for, determining the exchange rate between the currency or
currencies, currency unit or units or composite currency or currencies in which
such Securities are denominated or stated to be payable and the currency or
currencies, currency unit or units or composite currency or currencies in which
such Securities are to be so payable;

 

(14)
provisions, if any, granting special rights to the Holders of Securities of the
series upon the occurrence of such events as may be specified;

 

(15)
any deletions from, modifications of or additions to the Events of Default or
covenants of the Company with respect to Securities of the series, whether or
not such Events of Default or covenants are consistent with the Events of
Default or covenants set forth herein;

 

(16)
whether Securities of the series are to be issuable as Registered Securities,
Bearer Securities (with or without coupons) or both, any restrictions
applicable to the offer, sale or delivery of Bearer Securities and the terms
upon which Bearer Securities of the series may be exchanged for Registered
Securities of the series and vice versa (if permitted by applicable laws and
regulations), whether any Securities of the series are to be issuable initially
in temporary global form and whether any Securities of the series are to be
issuable in permanent global form with or without coupons and, if so, whether
beneficial owners of interests in any such permanent global Security may
exchange such interests for Securities of such series and of like tenor of any
authorized form and denomination and the circumstances under which any such
exchanges may occur, if other than in the manner provided in Section 3.05,
and, if Registered Securities of the series are to be issuable as a Global
Security, the identity of the depository for such series;

 

(17)
the date as of which any Bearer Securities of the series and any temporary
Global Security representing Outstanding Securities of the series shall be
dated if other than the date of original issuance of the first Security of the
series to be issued;

 

(18)
the Person to whom any interest on any Registered Security of the series shall
be payable, if other than the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, the manner in which, or the Person to
whom, any interest on any Bearer Security of the series shall be payable, if
otherwise than upon presentation and surrender of the coupons appertaining
thereto as they severally mature, and the extent to which, or the manner in
which, any interest payable on a temporary Global Security on an Interest
Payment Date will be paid if other than in the manner provided in Section 3.04;

 

(19)
the applicability, if any, of Sections 14.02 and/or 14.03 to the Securities of
the series and any provisions in modification of, in addition to or in lieu of
any of the provisions of Article XIV;

 

(20)
if the Securities of such series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such series)
only upon receipt of

 

25

 

certain certificates or
other documents or satisfaction of other conditions, then the form and/or terms
of such certificates, documents or conditions;

 

(21)
if the Securities of the series are to be issued upon the exercise of warrants,
the time, manner and place for such Securities to be authenticated and
delivered;

 

(22)
whether and under what circumstances the Company will pay Additional Amount as
contemplated by Section 10.10 on the Securities of the series to any
Holder who is not a United States person (including any modification to the
definition of such term) in respect of any tax, assessment or governmental
charge and, if so, whether the Company will have the option to redeem such
Securities rather than pay such Additional Amounts (and the terms of any such
option);

 

(23)
the obligation, if any, of the Company to permit the conversion of the
Securities of such series into the Company’s Common Shares or Preferred Shares,
as the case may be, and the terms and conditions upon which such conversion
shall be effected (including, without limitation, the initial conversion price
or rate, the conversion period, any adjustment of the applicable conversion
price and any requirements relative to the reservation of such shares for
purposes of conversion); and

 

(24)
any other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture).

 

All
Securities of any one series and the coupons appertaining to any Bearer
Securities of such series shall be substantially identical except, in the case
of Registered Securities, as to denomination and except as may otherwise be
provided in or pursuant to such Board Resolution (subject to Section 3.03)
and set forth in such Officers’ Certificate or in any such indenture
supplemental hereto.  All Securities of
any one series need not be issued at the same time and, unless otherwise
provided, a series may be reopened, without the consent of the Holders, for
issuance of additional Securities of such series.

 

If
any of the terms of the Securities of any series are established by action
taken pursuant to one or more Board Resolutions, a copy of an appropriate
record of such action(s) shall be certified by the Secretary or an Assistant
Secretary of the Company and delivered to the Indenture Trustee at or prior to
the delivery of the Officers’ Certificate setting forth the terms of the
Securities of such series.

 

Section 3.02.                         Denominations.

 

The
Securities of each series shall be issuable in such denominations as shall be
specified as contemplated by Section 3.01. With respect to Securities of
any series denominated in Dollars, in the absence of any such provisions with
respect to the Securities of any series, the Securities of such series, other
than Global Securities (which may be of any denomination), shall be issuable in
denominations of $1,000 and any integral multiple thereof.

 

Section 3.03.                         Execution,
Authentication, Delivery and Dating.

 

The
Securities and any coupons appertaining thereto shall be executed on behalf of
the Company by its Chairman of the Board, its President or one of its Vice
Presidents, under its corporate seal reproduced thereon, and attested by its
Secretary or one of its Assistant

 

26

 

Secretaries. The signature
of any of these officers on the Securities and coupons may be manual or
facsimile signatures of the present or any future such authorized officer and
may be imprinted or otherwise reproduced on the Securities.

 

Securities
or coupons bearing the manual or facsimile signatures of individuals who were
at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities or coupons.

 

At
any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series, together with any
coupon appertaining thereto, executed by the Company to the Indenture Trustee
for authentication, together with a Company Order for the authentication and
delivery of such Securities, and the Indenture Trustee in accordance with the
Company Order shall authenticate and deliver such Securities; provided,
however, that, in connection with its original issuance, no Bearer Security
shall be mailed or otherwise delivered to any location in the United States;
and provided, further that, unless otherwise specified with respect to any
series of Securities pursuant to Section 3.01, a Bearer Security may be
delivered in connection with its original issuance only if the Person entitled
to receive such Bearer Security shall have furnished a certificate to Euroclear
or CEDEL, as the case may be, in the form set forth in Exhibit B-1
to this Indenture or such other certificate as may be specified with respect to
any series of Securities pursuant to Section 3.01, dated no earlier than
15 days prior to the earlier of the date on which such Bearer Security is
delivered and the date on which any temporary Security first becomes
exchangeable for such Bearer Security in accordance with the terms of such
temporary Security and this Indenture. If any Security shall be represented by
a permanent global Bearer Security, then, for purposes of this Section and
Section 3.04, the notation of a beneficial owner’s interest therein upon
original issuance of such Security or upon exchange of a portion of a temporary
Global Security shall be deemed to be delivery in connection with its original
issuance of such beneficial owner’s interest in such permanent Global Security.
Except as permitted by Section 3.06, the Indenture Trustee shall not
authenticate and deliver any Bearer Security unless all appurtenant coupons for
interest then matured have been detached and canceled.

 

If
all the Securities of any series are not to be issued at one time and if the
Board Resolution or supplemental indenture establishing such series shall so
permit, such Company Order may set forth procedures acceptable to the Indenture
Trustee for the issuance of such Securities and determining the terms of
particular Securities of such series, such as interest rate or formula,
maturity date, date of issuance and date from which interest shall accrue. In
authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Indenture Trustee
shall be entitled to receive, and (subject to TIA Section 315(a) through
315(d)) shall be fully protected in relying upon,

 

(i) 
an Opinion of Counsel stating that

 

(a) the form or forms
of such Securities and any coupons have been established in conformity with the
provisions of this Indenture;

 

(b) the terms of such
Securities and any coupons have been established in conformity with the
provisions of this Indenture; and

 

27

 

(c) such Securities,
together with any coupons appertaining thereto, when completed by appropriate
insertions and executed and delivered by the Company to the Indenture Trustee
for authentication in accordance with this Indenture, authenticated and
delivered by the Indenture Trustee in accordance with this Indenture and issued
by the Company in the manner and subject to any conditions specified in such
Opinion of Counsel, will constitute legal, valid and legally binding
obligations of the Company, enforceable in accordance with their terms, subject
to applicable bankruptcy, insolvency, fraudulent transfer, reorganization and
other laws of general applicability relating to or affecting the enforcement of
creditors’ rights generally and to general equitable principles; and

 

(ii) an
Officers’ Certificate stating that all conditions precedent provided for in
this Indenture relating to the issuance of the Securities have been complied
with and that, to the best of the knowledge of the signers of such certificate,
that no Event of Default with respect to any of the Securities shall have
occurred and be continuing.

 

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

 

Notwithstanding
the provisions of Section 3.01 and of the preceding paragraph, if all the
Securities of any series are not to be issued at one time it shall not be
necessary todeliver an Officers’ Certificate otherwise required pursuant to Section 3.01
or a Company Order, or an Opinion of Counsel or an Officers’ Certificate
otherwise required pursuant to the next preceding paragraph at the time of
issuance of each Security of such series, but such order, opinion and
certificates, with appropriate modifications to cover such future issuances,
shall be delivered at or before the time of issuance of the first Security of
such series.

 

Each
Registered Security shall be dated the date of its authentication and each
Bearer Security shall be dated as of the date specified as contemplated by Section 3.01.

 

No
Security or coupon shall be entitled to any benefit under this Indenture or be
valid or obligatory for any purpose unless there appears on such Security or
Security to which such coupon appertains a certificate of authentication
substantially in the form provided for herein duly executed by the Indenture
Trustee by manual signature of an authorized signatory, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that
such Security has been duly authenticated and delivered hereunder and is
entitled to the benefit of this Indenture. Notwithstanding the foregoing, if
any Security (including a Global Security) shall have been authenticated and
delivered hereunder but never issued and sold by the Company, and the Company
shall deliver such Security to the Indenture Trustee for cancellation as
provided in Section 3.09 together with a written statement (which need not
comply with Section 1.02 and need not be accompanied by an Opinion of
Counsel) stating that such Security has never been issued and sold by the
Company, for all purposes of this Indenture such Security shall be deemed never
to have been authenticated and delivered hereunder and shall never be entitled
to the benefits of this Indenture.

 

28

 

Section 3.04.                         Temporary
Securities.

 

Pending
the preparation of definitive Securities of any series, the Company may
execute, and upon Company Order the Indenture Trustee shall authenticate and
deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued, in registered form, or, if authorized, in bearer form with one or
more coupon or without coupon, and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Series may
determine, as conclusively evidenced by their execution of such Securities. In
the case of Securities of any series, such temporary Securities may be in
global form.

 

Except
in the case of temporary Global Securities (which shall be exchanged as otherwise
provided herein or as otherwise provided in or pursuant to a Board Resolution),
if temporary Securities or any series are issued, the Company will cause
definitive Securities of that series to be prepared without unreasonable delay.
After the preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive Securities of
such series upon surrender of the temporary Securities of such series at the
office or agency of the company in a Place of Payment for that series, without
charge to the Holder. Upon surrender for cancellation of any one or more
temporary Securities of any series (accompanied by any non-matured coupons
appertaining thereto), the Company shall execute and the Indenture Trustee
shall authenticate and deliver in exchange therefor a like principal amount of
definitive Securities of the same series of authorized denominations; provided
however, that no definitive Bearer Security shall be delivered in exchange for
a temporary Registered Security, and provided, further that a definitive Bearer
Security shall be delivered in exchange for a temporary Bearer Security only in
compliance with the conditions set forth in Section 3.03. Until so
exchanged, the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of
such series.

 

Unless
otherwise provided in or pursuant to a Board Resolution, the following
provisions of this Section 3.04 shall govern the exchange of temporary
Securities other than through the facilities of The Depository Trust Company (“DTC”).
If any such temporary Security is issued in global form, then such temporary
Global Security shall, unless otherwise provided therein, be delivered to the
London office of a depository or common depository (the “Common Depository”),
for the benefit of Euroclear and CEDEL, for credit to the respective accounts
of the beneficial owners of such Securities (or to such other accounts as they
may direct).

 

Without
unnecessary delay but in any event not later than the date specified in, or
determined pursuant to the terms of, any such temporary Global Security (the “Exchange
Date”), the Company shall deliver to the Indenture Trustee definitive
Securities, in aggregate principal amount equal to the principal amount of such
temporary Global Security, executed by the Company. On or after the Exchange
Date, such temporary Global Security shall be surrendered by the Common
Depository to the Indenture Trustee, as the Company’s agent for such purpose,
to be exchanged, in whole or from time to time in part, for definitive
Securities without charge, and the Indenture Trustee shall authenticate and
deliver in exchange for each portion of such temporary Global Security, an equal
aggregate principal amount of definitive Securities of the same series of
authorized denominations and of like tenor as the portion of such temporary
Global Security to be exchanged. The definitive Securities to be delivered in
exchange for any such temporary Global Security shall be in bearer form,
registered form, permanent global bearer form or permanent global registered
form, or any combination thereof, as specified as contemplated by Section 3.01,
and, if any combination thereof is so specified, as requested by

 

29

 

the beneficial owner
thereof; provided, however, that, unless otherwise specified in such temporary
Global Security, upon such presentation by the Common Depository, such
temporary Global Security is accompanied by a certificate dated the Exchange
Date or a subsequent date and signed by Euroclear as to the portion of such
temporary Global Security held for its account then to be exchanged and a
certificate dated the Exchange Date or a subsequent date and signed by CEDEL as
to the portion of such temporary Global Security held for its account then to
be exchanged, each in the form set forth in Exhibit B-2 to this
Indenture or in such other form as may be established pursuant to Section 3.01;
and provided further that definitive Bearer Securities shall be delivered in
exchange for a portion of a temporary Global Security only in compliance with
the requirements of Section 3.03.

 

Unless
otherwise specified in such temporary Global Security, the interest of a
beneficial owner of Securities of a series in a temporary Global Security shall
be exchanged for definitive Securities of the same series and of like tenor
following the Exchange Date when the account holder instructs Euroclear or
CEDEL, as the case may be, to request such exchange on his behalf and delivers
to Euroclear or CEDEL, as the case may be, a certificate in the form set forth
in Exhibit B-1 to this Indenture (or in such other form as may be
established pursuant to Section 3.01), dated no earlier than 15 days prior
to the Exchange Date, copies of which certificate shall be available from the
offices of Euroclear and CEDEL, the Indenture Trustee, any Authenticating Agent
appointed for such series of Securities and each Paying Agent. Unless otherwise
specified in such temporary Global Security, any such exchange shall be made
free of charge to the beneficial owners of such Temporary Global Security,
except that a Person receiving definitive Securities must bear the cost of
insurance, postage, transportation and the like unless such Person takes
delivery of such definitive Securities in person at the offices of Euroclear or
CEDEL. Definitive Securities in bearer form to be delivered in exchange for any
portion of a temporary Global Security shall be delivered only outside the
United States.

 

Until
exchanged in full as hereinabove provided, the temporary Securities of any
series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of the same series and of like tenor
authenticated and delivered hereunder, except that, unless otherwise specified
as contemplated by Section 3.01, interest payable on a temporary Global
Security on an Interest Payment Date for Securities of such series occurring
prior to the applicable Exchange Date shall be payable to Euroclear and CEDEL
on such Interest Payment Date upon delivery by Euroclear and CEDEL to the
Indenture Trustee of a certificate or certificates in the form set forth in Exhibit B-2
to this Indenture (or in such other forms as may be established pursuant to Section 3.01),
for credit without further interest on or after such Interest Payment Date to
the respective accounts of Persons who are the beneficial owners of such
temporary Global Security on such Interest Payment Date and who have each
delivered to Euroclear or CEDEL, as the case may be, a certificate dated no
earlier than 15 days prior to the Interest Payment Date occurring prior to such
Exchange Date in the form set forth as Exhibit B-1 to this Indenture
(or in such other forms as may be established pursuant to Section 3.01).
Notwithstanding anything to the contrary herein contained, the certifications
made pursuant to this paragraph shall satisfy the certification requirements of
the preceding two paragraphs of this Section 3.04 and of the third
paragraph of Section 3.03 of this Indenture and the interests of the
Persons who are the beneficial owners of the temporary Global Security with
respect to which such certification was made will be exchanged for definitive
Securities of the same series and of like tenor on the Exchange Date or the
date of certification if such date occurs after the Exchange Date, without further
act or deed by such beneficial owners. Except as otherwise provided in this paragraph,
no payments of principal or interest owing with respect to a beneficial
interest in a

 

30

 

temporary Global Security
will be made unless and until such interest in such temporary Global Security
shall have been exchanged for an interest in a definitive Security. Any
interest so received by Euroclear and CEDEL and not paid as herein provided
shall be returned to the Indenture Trustee prior to the expiration of two years
after such Interest Payment Date in order to be repaid to the Company.

 

Section 3.05.                         Registration,
Registration of Transfer and Exchange.

 

The
Company shall cause to be kept at the Corporate Trust Office of the Indenture
Trustee or in any office or agency of the Company in a Place of Payment a
register for each series of Securities (the registers maintained in such office
or in any such office or agency of the Company in a Place of Payment being
herein sometimes referred to collectively as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of Registered Securities and of transfers of
Registered Securities. The Security Register shall be in written form or any
other form capable of being converted into written form within a reasonable
time. The Indenture Trustee, at its Corporate Trust Office, is hereby initially
appointed “Security Registrar” for the purpose of registering Registered
Securities and transfers of Registered Securities on such Security Register as
herein provided. In the event that the Indenture Trustee shall cease to be
Security Registrar, it shall have the right to examine the Security Register at
all reasonable times.

 

Subject
to the provisions of this Section 3.05, upon surrender for registration of
transfer of any Registered Security of any series at any office or agency of
the Company in a Place of Payment for that series, the Company shall execute,
and the Indenture Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Registered Securities of
the same series, of any authorized denominations and of a like aggregate
principal amount, bearing a number not contemporaneously outstanding, and
containing identical terms and positions.

 

Subject
to the provisions of this Section 3.05, at the option of the Holder,
Registered Securities of any series may be exchanged for other Registered
Securities of the same series, of any authorized denomination or denominations
and of a like aggregate principal amount, containing identical terms and
provisions, upon surrender of the Registered Securities to be exchanged at any
such office or agency. Whenever any such Registered Securities are so
surrendered for exchange, the Company shall execute, and the Indenture Trustee
shall authenticate and deliver, the Registered Securities which the Holder
making the exchange is entitled to receive. Unless otherwise specified with
respect to any series of Securities as contemplated by Section 3.01,
Bearer Securities may not be issued in exchange for Registered Securities.

 

                If (but only if) permitted by the applicable Board
Resolution and (subject to Section 3.03) set forth in the applicable
Officers’ Certificate, or in any indenture supplemental hereto, delivered as
contemplated by Section 3.01, at the option of the Holder, Bearer
Securities of any series may be exchanged for Registered Securities of the same
series of any authorized denominations and of a like aggregate principal amount
and tenor, upon surrender of the Bearer Securities to be exchanged at any such
office or agency, with all unmatured coupons and all matured coupons in default
thereto appertaining. If the Holder of a Bearer Security is unable to produce
any such unmatured coupon or coupons or matured coupon or coupons in default,
any such permitted exchange may be effected if the Bearer Securities are
accompanied by payment in funds acceptable to the Company in an amount equal to
the face amount of such missing coupon or

 

31

 

 

coupons, or the surrender of
such missing coupon or coupons may be waived by the Company and the Indenture
Trustee if there is furnished to them such security or indemnity as they may
require to save each of them and any Paying Agent harmless. If thereafter the
Holder of such Security shall surrender to any Paying Agent any such missing
coupon in respect of which such a payment shall have been made, such Holder
shall be entitled to receive the amount of such payment; provided, however,
that, except as otherwise provided in Section 10.02, interest represented
by coupons shall be payable only upon presentation and surrender of those
coupons at an office or agency located outside the United States.
Notwithstanding the foregoing, in case a Bearer Security of any series is
surrendered at any such office or agency in a permitted exchange for a
Registered Security of the same series and like tenor after the close of
business at such office or agency on (i) any Regular Record Date and
before the opening of business at such office or agency on the relevant
Interest Payment Date, or (ii) any Special Record Date and before the
opening of business at such office or agency on the related proposed date for
payment of Defaulted Interest, such Bearer Security shall be surrendered
without the coupon relating to such Interest Payment Date or proposed date for
payment, as the case may be, and interest or Defaulted Interest, as the case
may be, will not be payable on such Interest Payment Date or proposed date for
payment, as the case may be, in respect of the Registered Security issued in
exchange for such Bearer Security, but will be payable only to the Holder of
such coupon when due in accordance with the provisions of this Indenture.
Whenever any Securities are so surrendered for exchange, the Company shall
execute, and the Indenture Trustee shall authenticate and deliver, the
Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section 3.01,
any permanent Global Security shall be exchangeable only as provided in this
paragraph. If the depository for any permanent Global Security is DTC, then,
unless the terms of such Global Security expressly permit such Global Security
to be exchanged in whole or in part for definitive Securities, a Global
Security may be transferred, in whole but not in part, only to a nominee of
DTC, or by a nominee of DTC to DTC, or to a successor to DTC for such Global
Security selected or approved by the Company or to a nominee of such successor
to DTC. If at any time DTC notifies the Company that it is unwilling or unable
to continue as depository for the applicable Global Security or Securities or
if at any time DTC ceases to be a clearing agency registered under the
Securities Exchange Act of 1934 if so required by applicable law or regulation,
the Company shall appoint a successor depository with respect to such Global
Security or Securities. If (x) a successor depository for such Global Security
or Securities is not appointed by the Company within 90 days after the Company
received such notice or becomes aware of such unwillingness, inability or
ineligibility, (y) an Event of Default has occurred and is continuing and the
beneficial owners representing a majority in principal amount of the applicable
series of Securities represented by such Global Security or Securities advise
DTC to cease acting as depository for such Global Security or Securities or (z)
the Company, in its sole discretion, determines at any time that all
Outstanding Securities (but not less than all) of any series issued or issuable
in the form of one or more Global Securities shall no longer be represented by
such Global Security or Securities, then the Company shall execute, and the Indenture
Trustee shall authenticate and deliver definitive Securities of like series,
rank, tenor and terms in definitive form in an aggregate principal amount equal
to the principal amount of such beneficial owner’s interest in such permanent
Global Security. On or after the earliest date on which such interests may be
so exchanged, such permanent Global Security shall be surrendered for exchange
by DTC or such other depository as shall be specified in the Company Order with
respect thereto to the Indenture Trustee, as the Company’s agent for such
purpose;

 

32

 

provided, however, that no
such exchanges may occur during a period beginning at the opening of business
15 days before any selection of Securities to be redeemed and ending on the
relevant Redemption Date if the Security for which exchange is requested may be
among those selected for redemption; and provided further that no Bearer
Security delivered in exchange for a portion of a permanent Global Security
shall be mailed or otherwise delivered to any location in the United States. If
a Registered Security is issued in exchange for any portion of a permanent
Global Security after the close of business at the office or agency where such
exchange occurs on (i) any Regular Record Date and before the opening of
business at such office or agency on the relevant Interest Payment Date, or (ii) any
Special Record Date and the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, interest or Defaulted
Interest, as the case may be, will not be payable on such Interest Payment Date
or proposed date for payment, as the case may be, in respect of such Registered
Security, but will be payable on such Interest Payment Date or proposed date
for payment, as the case may be, only to the Person to whom interest in respect
of such portion of such permanent Global Security is payable in accordance with
the provisions of this Indenture.

 

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

 

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

 

No
service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 3.04, 9.06, 11.07 or 13.05 not involving any transfer.

 

The
Company or the Indenture Trustee, as applicable, shall not be required (i) to
issue, register the transfer of or exchange any Security if such Security may
be among those selected for redemption during a period beginning at the opening
of business 15 days before selection of the Securities to be redeemed under Section 11.03
and ending at the close of business on (A) if such Securities are issuable
only as Registered Securities, the day of the mailing of the relevant notice of
redemption and (B) if such Securities are issuable as Bearer Securities,
the day of the first publication of the relevant notice of redemption or, if
such Securities are also issuable as Registered Securities and there is no
publication, the mailing of the relevant notice of redemption, or (ii) to
register the transfer of or exchange any Registered Security so selected for
redemption in whole or in part, except, in the case of any Registered Security
to be redeemed in part, the portion thereof not to be redeemed, or (iii) to
exchange any Bearer Security so selected for redemption except that such a
Bearer Security may be exchanged for a Registered Security of that series and
like tenor, provided that such Registered Security shall be simultaneously
surrendered for redemption, or (iv) to issue, register the transfer of or
exchange any Security which has been surrendered for repayment at the option of
the Holder, except the portion, if any, of such Security not to be so repaid.

 

33

 

Section 3.06.                         Mutilated,
Destroyed, Lost and Stolen Securities.

 

If
any mutilated Security or a Security with a mutilated coupon appertaining to it
is surrendered to the Indenture Trustee or the Company, together with, in
proper cases, such security or indemnity as may be required by the Company or
the Indenture Trustee to save each of them or any agent of either of them
harmless, the Company shall execute and the Indenture Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series
and principal amount, containing identical terms and provisions and bearing a
number not contemporaneously outstanding, with coupons corresponding to the
coupons, if any, appertaining to the surrendered Security.

 

If
there shall be delivered to the Company and the Indenture Trustee (i) evidence
to their satisfaction of the destruction, loss or theft of any Security or
coupon, and (ii) such security or indemnity as may be required by them to
save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Indenture Trustee that such Security or
coupon has been acquired by a protected purchaser, the Company shall execute
and upon its request the Indenture Trustee shall authenticate and deliver, in
lieu of any such destroyed, lost or stolen Security or in exchange for the
Security to which a destroyed, lost or stolen coupon appertains (with all
appurtenant coupons not destroyed, lost or stolen), a new Security of the same
series and principal amount, containing identical terms and provisions and
bearing a number not contemporaneously outstanding, with coupons corresponding
to the coupons, if any, appertaining to such destroyed, lost or stolen Security
or to the Security to which such destroyed, lost or stolen coupon appertains.

 

Notwithstanding
the provisions of the previous two paragraphs, in case any such mutilated,
destroyed, lost or stolen Security or coupon has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new
Security, with coupons corresponding to the coupons, if any, appertaining to
such destroyed, lost or stolen Security or to the Security to which such
destroyed, lost or stolen coupon appertains, pay such Security or coupon;
provided, however, that payment of principal of (and premium, if any), any
interest on and any Additional Amounts with respect to, Bearer Securities
shall, except as otherwise provided in Section 10.02, be payable only at
an office or agency located outside the United States and, unless otherwise
specified as contemplated by Section 3.01, any interest on Bearer
Securities shall be payable only upon presentation and surrender of the coupons
appertaining thereto.

 

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

 

Every
new Security of any series with its coupons, if any, issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security, or in exchange for a Security
to which a destroyed, lost or stolen coupon appertains, shall constitute an
original additional contractual obligation of the Company, whether or not the
destroyed, lost or stolen Security and its coupons, if any, or the destroyed,
lost or stolen coupon shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of that series and their coupons, if any, duly
issued hereunder.

 

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

 

34

 

Section 3.07.                         Payment
of Interest: Interest Rights Preserved.

 

Except
as otherwise specified with respect to a series of Securities in accordance
with the provisions of Section 3.01, interest on any Registered Security
that is payable, and is punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest at the office or agency of the Company
maintained for such purpose pursuant to Section 10.02; provided, however,
that each installment of interest on any Registered Security may at the Company’s
option be paid by (i) mailing a check for such interest, payable to or
upon the written order of the Person entitled thereto pursuant to Section 3.08,
to the address of such Person as it appears on the Security Register or (ii) transfer
to an account maintained by the payee located inside the United States.

 

Unless
otherwise provided as contemplated by Section 3.01 with respect to the
Securities of any series, payment of interest may be made, in the case of a
Bearer Security, by transfer to an account maintained by the payee with a bank
located outside the United States.

 

Unless
otherwise provided as contemplated by Section 3.01, every permanent global
Security will provide that interest, if any, payable on any Interest Payment
Date will be paid by DTC, Euroclear and/or CEDEL, as the case may be, with
respect to that portion of such permanent global Security held for its account
by Cede & Co. or the Common Depository, as the case may be, for the
purpose of permitting such party to credit the interest received by it in
respect of such permanent global Security to the accounts of the beneficial
owners thereof.

 

In
case a Bearer Security of any series is surrendered in exchange for a
Registered Security of such series after the close of business (at an office or
agency in a Place of Payment for such series) on any Regular Record Date and
before the opening of business (at such office or agency) on the next
succeeding Interest Payment Date, such Bearer Security shall be surrendered
without the coupon relating to such Interest Payment Date and interest will not
be payable on such Interest Payment Date in respect of the Registered Security
issued in exchange for such Bearer Security, but will be payable only to the
Holder of such coupon when due in accordance with the provisions of this
Indenture.

 

Except
as otherwise specified with respect to a series of Securities in accordance
with the provisions of Section 3.01, any interest on any Registered Security
of any series that is payable, but is not punctually paid or duly provided for,
on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the registered Holder thereof on the relevant
Regular Record Date by virtue of having been such Holder, and such Defaulted
Interest may be paid by the Company, at its election in each case, as provided
in clause (1) or (2) below:

 

(1)                                  The Company may elect to make payment of any
Defaulted Interest to the Persons in whose names the Registered Securities of
such series (or their respective Predecessor Securities) are registered at the
close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall
notify the Indenture Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each Registered Security of such series and the date of
the proposed payment (which shall not be less than 20 days after such notice is
received by the Indenture Trustee), and at the same time the Company shall
deposit with the Indenture Trustee an amount of money in the currency or
currencies, currency unit or units

 

35

 

or composite currency or currencies in which the
Securities of such series are payable (except as otherwise specified pursuant
to Section 3.01 for the Securities of such series) equal to the aggregate
amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Indenture Trustee for such deposit on or prior
to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in
this clause provided. Thereupon the Indenture Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date of the proposed
payment and not less than 10 days after the receipt by the Indenture Trustee of
the notice of the proposed payment. The Indenture Trustee shall promptly notify
the Company of such Special Record Date and, in the name and at the expense of
the Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be mailed, first-class postage prepaid,
to each Holder of Registered Securities of such series at his address as it
appears in the Security Register not less than 10 days prior to such Special
Record Date. The Indenture Trustee may, in its discretion, in the name and at
the expense of the Company, cause a similar notice to be published at least
once in an Authorized Newspaper in each Place of Payment, but such publications
shall not be a condition precedent to the establishment of such Special Record
Date. Notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor having been mailed as aforesaid, such Defaulted Interest
shall be paid to the Persons in whose names the Registered Securities of such
series (or their respective Predecessor Securities) are registered at the close
of business on such Special Record Date and shall no longer be payable pursuant
to the following clause (2). In case a Bearer Security of any series is surrendered
at the office or agency in a Place of Payment for such series in exchange for a
Registered Security of such series after the close of business at such office
or agency on any Special Record Date and before the opening of business at such
office or agency on the related proposed date for payment of Defaulted
Interest, such Bearer Security shall be surrendered without the coupon relating
to such proposed date of payment and Defaulted Interest will not be payable on
such proposed date of payment in respect of the Registered Security issued in
exchange for such Bearer Security, but will be payable only to the Holder of
such coupon when due in accordance with the provisions of this Indenture.

 

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

 

Subject
to the foregoing provisions of this Section and Section 3.05, each
Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other
Security.

 

36

 

Section 3.08.                         Persons
Deemed Owners.

 

Prior
to due presentment of a Registered Security for registration of transfer, the
Company, the Indenture Trustee and any agent of the Company or the Indenture
Trustee may treat the Person in whose name such Registered Security is
registered as the owner of such Security for the purpose of receiving payment
of principal of (and premium, if any) and (subject to Sections 3.05 and 3.07)
interest on, such Registered Security and for all other purposes whatsoever,
whether or not such Registered Security be overdue, and neither the Company,
the Indenture Trustee nor any agent of the Company or the Indenture Trustee
shall be affected by notice to the contrary. All such payments so made to any
such Person, or upon such Person’s order, shall be valid, and, to the extent of
the sum or sums so paid, effectual to satisfy and discharge the liability for
money payable upon any such Security.

 

Title
to any Bearer Security and any coupons appertaining thereto shall pass by
delivery. The Company, the Indenture Trustee and any agent of the Company or
the Indenture Trustee may treat the Holder of any Bearer Security and the
Holder of any coupon as the absolute owner of such Security or coupon for the
purpose of receiving payment thereof or on account thereof and for all other
purposes whatsoever, whether or not such Security or coupon be overdue, and
neither the Company, the Indenture Trustee nor any agent of the Company or the
Indenture Trustee shall be affected by notice to the contrary.

 

Title
to any Bearer Security and any coupons appertaining thereto shall pass by
delivery. The Company, the Indenture Trustee and any agent of the Company or
the Indenture Trustee may treat the Holder of any Bearer Security and the Holder
of any coupon as the absolute owner of such Security or coupon for the purpose
of receiving payment thereof or on account thereof and for all other purposes
whatsoever, whether or not such Security or coupon be overdue, and neither the
Company, the Indenture Trustee, nor any agent of the Company or the Indenture
Trustee shall be affected by notice to the contrary.

 

No
Holder of any beneficial interest in any Global Security held on its behalf by
a depository shall have any rights under this Indenture with respect to such
Global Security and such depository shall be treated by the Company, the
Indenture Trustee, and any agent of the Company or the Indenture Trustee as the
owner of such Global Security for all purposes whatsoever. None of the Company,
the Indenture Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interests of a Global Security
or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.

 

Notwithstanding
the foregoing, with respect to any Global Security, nothing herein shall
prevent the Company, the Indenture Trustee, or any agent of the Company or the
Indenture Trustee, from giving effect to any written certification, proxy or
other authorization furnished by any depository, as a Holder, with respect to
such Global Security or impair, as between such depository and owners of
beneficial interests in such Global Security, the operation of customary
practices governing the exercise of the rights of such depository (or its
nominee) as Holder of such Global Security.

 

37

 

Section 3.09.                         Cancellation.

 

All
Securities and coupons surrendered for payment, redemption, repayment at the
option of the Holder, registration of transfer or exchange or conversion or for
credit against any sinking fund payment shall, if surrendered to any Person
other than the Indenture Trustee, be delivered to the Indenture Trustee, and
any such Securities and coupons surrendered directly to the Indenture Trustee
for any such purpose shall be promptly cancelled by it. The Company may at any
time deliver to the Indenture Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have
acquired in any manner whatsoever, and may deliver to the Indenture Trustee (or
to any other Person for delivery to the Indenture Trustee) for cancellation any
Securities previously authenticated hereunder which the Company has not issued
and sold, and all Securities so delivered shall be promptly cancelled by the
Indenture Trustee. If the Company shall so acquire any of the Securities,
however, such acquisition shall not operate as a redemption or satisfaction of
the indebtedness represented by such Securities unless and until the same are
surrendered to the Indenture Trustee for cancellation. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture.
Cancelled Securities and coupons held by the Indenture Trustee shall be
destroyed by the Indenture Trustee and the Indenture Trustee shall deliver a
certificate of such destruction to the Company, unless the Indenture Trustee is
otherwise directed by a Company Order.

 

Section 3.10.                         Computation
of Interest.

 

Except
as otherwise specified as contemplated by Section 3.01 with respect to
Securities of any series, interest on the Securities of each series shall be
computed on the basis of a 360-day year consisting of twelve 30-day
months.

 

ARTICLE IV

 

SATISFACTION AND DISCHARGE 

 

Section 4.01.                         Satisfaction
and Discharge of Indenture.

 

This
Indenture shall upon Company Request cease to be of further effect with respect
to any series of Securities specified in such Company Request (except as to any
surviving rights of registration of transfer or exchange of Securities of such
series herein expressly provided for and any right to receive Additional
Amounts, as provided in Section 10.10), and the Indenture Trustee, upon
receipt of a Company Order, and at the expense of the Company, shall execute
instruments in form and substance reasonably satisfactory to the Indenture
Trustee and the Company acknowledging satisfaction and discharge of this
Indenture as to such series when

 

(1) 
either

 

(A)   all Securities of such series theretofore
authenticated and delivered and all coupons, if any, appertaining thereto
(other than (i) coupons appertaining to Bearer Securities surrendered for
exchange for Registered Securities and maturing after such exchange, whose
surrender is not required or has been waived as provided in Section 3.05, (ii) Securities
and coupons of

 

38

 

such series which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 3.06, (iii) coupons
appertaining to Securities called for redemption and maturing after the
relevant Redemption Date, whose surrender has been waived as provided in Section 11.06,
and (iv) Securities and coupons of such series for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 10.03) have been delivered to the Indenture Trustee
for cancellation; or

 

(B) all Securities of
such series and, in the case of (i) or (ii) below, any coupons
appertaining thereto not theretofore delivered to the Indenture Trustee for
cancellation

 

(i)  have become due
and payable, or

 

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

 

(iii)  if redeemable at
the option of the Company, are to be called for redemption within one year
under arrangements satisfactory to the Indenture Trustee for the giving of
notice of redemption by the Indenture Trustee in the name, and at the expense,
of the Company.

 

and the Company, in the case
of (i), (ii) or (iii) above, has irrevocably deposited or caused to
be deposited with the Indenture Trustee as trust funds in trust for the purpose
an amount in the currency or currencies, currency unit or units or composite
currency or currencies in which the Securities of such series are payable, sufficient
to pay and discharge the entire indebtedness on such Securities and such
coupons not theretofore delivered to the Indenture Trustee for cancellation,
for principal (and premium, if any) and interest, and any Additional Amounts
with respect thereto, to the date of such deposit (in the case of Securities
which have become due and payable) or to the Stated Maturity or Redemption
Date, as the case may be;

 

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

 

(3)  the Company has
delivered to the Indenture 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 as to such series
have been complied with.

 

Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Company to
the Indenture Trustee and any predecessor Indenture Trustee under Section 6.06,
the obligations of the Company to any Authenticating Agent under Section 6.11
and, if money shall have been deposited with and held by the Indenture Trustee
pursuant to subclause (B) of clause (1) of this Section, the
obligations of the Indenture Trustee under Section 4.02 and the last
paragraph of Section 10.03 shall survive.

 

Section 4.02.                         Application
of Trust Funds.

 

Subject
to the provisions of the last paragraph of Section 10.03, all money
deposited with the Indenture Trustee pursuant to Section 4.01 shall be
held in trust and applied by it, in accordance with the provisions of the
Securities, the coupons and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent)
as the Indenture Trustee may determine, to the Persons entitled thereto, of the
principal

 

39

 

(and premium, if any), and
any interest and Additional Amounts for whose payment such money has been
deposited with or received by the Indenture Trustee, but such money need not be
segregated from other funds except to the extent required by law.

 

ARTICLE V

 

REMEDIES

 

Section 5.01.                         Events
of Default.

 

“Event
of Default,” wherever used herein with respect to any particular series of
Securities, means any one of the following events (whatever the reason for such
Event of Default and whether or not it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of
any court or any order, rule or regulation of any administrative or governmental
body):

 

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

 

(2)   default in the payment of the principal of (or
premium, if any, on) any Security of that series when it becomes due and
payable at its Maturity; or

 

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

 

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

 

(5)   default under any bond, debenture, note or
other evidence of indebtedness for money borrowed by the Company or any of its
Subsidiaries (including obligations under leases required to be capitalized on
the balance sheet of the lessee under generally accepted accounting principles,
but not including any indebtedness or obligations for which recourse is limited
to property purchased) in an aggregate principal amount in excess of $30,000,000
or under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any indebtedness for money
borrowed by the Company or any of its Subsidiaries (including such leases, but
not including such indebtedness or obligations for which recourse is limited to
property purchased) in an aggregate principal amount in excess of $30,000,000 by

 

40

 

the Company, whether such indebtedness now exists or
shall hereafter be created with such obligations being accelerated and not
rescinded or annulled; or

 

(6)   the Company or any Significant Subsidiary
pursuant to or within the meaning of any 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

 

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

 

(A)  is for relief
against the Company or any Significant Subsidiary in an involuntary case,

 

(B) appoints a
Custodian of the Company or any Significant Subsidiary or for all or
substantially all of either of its property, or

 

(C) orders the
liquidation of the Company or any Significant Subsidiary, and the order or
decree remains unstayed and in effect for 90 days; or

 

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

 

As
used in this Section 5.01, the term “Bankruptcy Law” means title 11, U.S.
Code or any similar Federal or state law for the relief of debtors and the term
“Custodian” means any receiver, trustee, assignee, liquidator or other similar
official under any Bankruptcy Law.

 

Section 5.02.                         Acceleration
of Maturity: Rescission and Annulment.

 

If
an Event of Default with respect to Securities of any series at the time
Outstanding occurs and is continuing, then and in every such case the Indenture
Trustee or the Holders of not less than 25% in principal amount of all the
Securities of that series will have the right to declare the principal amount
(or, if the Securities of that series are Original Issue Discount Securities or
Indexed Securities, such portion of the principal as may be specified in the
terms thereof) to be due and payable immediately, by a notice in writing to the
Company (and to the Indenture Trustee if given by the Holders), and upon any
such declaration such principal or specified portion thereof shall become
immediately due and payable.

 

At
any time after such a declaration of acceleration with respect to Securities of
any series has been made and before a judgment or decree for payment of the
money due has been obtained by the Indenture Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series, by written notice to the

 

41

 

Company and the Indenture
Trustee, may rescind and annul such declaration of acceleration and its
consequences if:

 

(1)   the Company has paid or deposited with the
Indenture Trustee a sum sufficient to pay in the currency, currency unit or
composite currency in which the Securities of such series are payable (except
as otherwise specified pursuant to Section 3.01 for the Securities of such
series):

 

(A) all overdue
installments of interest on and any Additional Amounts payable in respect of
all Outstanding Securities of that series and any related coupons,

 

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

 

(C)  to the extent that
payment of such interest is lawful, interest upon overdue installments of
interest and any Additional Amounts at the rate or rates borne by or provided
for in such Securities, and

 

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

 

(2)   all Events of Default with respect to
Securities of that series, other than the nonpayment of the principal of (or
premium, if any) or interest on Securities of that series which have become due
solely by such declaration of acceleration, have been cured or waived as
provided in Section 5.13.

 

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

 

Section 5.03.                         Collection
of Indebtedness and Suits for Enforcement by Indenture Trustee.

 

The
Company covenants that if:

 

(1)  default is made in
the payment of any installment of interest or Additional Amounts, if any, on
any Security of any series and any related coupon when such interest or
Additional Amount becomes due and payable and such default continues for a
period of 30 days, or

 

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

 

then the Company will, upon
demand of the Indenture Trustee, pay to the Indenture Trustee, for the benefit
of the Holders of such Securities of such series and coupons, the whole amount
then due and payable on such Securities and coupons for principal (and premium,
if any) and interest and Additional Amounts, with interest upon any overdue
principal (and premium, if any) and, to the extent that payment of such
interest shall be legally enforceable, upon any overdue installments of
interest or Additional Amounts, if

 

42

 

any, at the rate or rates
borne by or provided for in such Securities, and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Indenture Trustee, its agents and counsel.

 

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

 

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

 

Section 5.04.                         Indenture
Trustee May File Proofs of Claim.

 

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

 

(i)  to file and prove
a claim for the whole amount, or such lesser amount as may be provided for in
the Securities of such series, of principal (and premium, if any) and interest
and Additional Amounts, if any, owing and unpaid in respect of the Securities
and to file such other papers or documents as may be necessary or advisable in
order to have the claims of the Indenture Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Indenture
Trustee, its agents and counsel) and of the Holders allowed in such judicial
proceeding, and

 

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

 

and any custodian, receiver,
assignee, trustee, liquidator, sequestrator (or other similar official) in any
such judicial proceeding is hereby authorized by each Holder of Securities of
such series and coupons to make such payments to the Indenture Trustee, and in
the event that the Indenture Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Indenture Trustee any amount
due to it for the reasonable compensation, expenses, disbursements and advances
of the Indenture Trustee and any predecessor Indenture Trustee,

 

43

 

their agents and counsel,
and any other amounts due the Indenture Trustee or any predecessor Indenture
Trustee under Section 6.06.

 

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

 

In
any proceedings brought by the Indenture Trustee (and also any proceedings involving
the interpretation of any provision of this Indenture to which the Indenture
Trustee shall be a party) the Indenture Trustee shall be held to represent all
the Holders of the Securities, and it shall not be necessary to make any
Holders of the Securities parties to any such proceedings.

 

Section 5.05.                         Indenture
Trustee May Enforce Claims Without Possession of Securities or Coupons.

 

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

 

Section 5.06.                         Application
of Money Collected.

 

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

 

FIRST:   To the
payment of all amounts due the Indenture Trustee and any predecessor Indenture
Trustee under Section 6.06;

 

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

 

THIRD:  To the payment of the remainder, if any, to
the Company.

 

44

 

Section 5.07.                         Limitation
on Suits.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 5.08.                         Unconditional
Right of Holders to Receive Principal, Premium, if any, Interest and Additional
Amounts.

 

Notwithstanding
any other provision in this Indenture, the Holder of any Security or coupon
shall have the right which is absolute and unconditional to receive payment of
the principal of (and premium, if any) and (subject to Sections 3.05 and 3.07)
interest on, and any Additional Amounts in respect of, such Security or payment
of such coupon on the respective due dates expressed in such Security or coupon
(or, in the case of redemption, on the Redemption Date) and to institute suit
for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

 

Section 5.09.                         Restoration
of Rights and Remedies.

 

If
the Indenture Trustee or any Holder of a Security or coupon has instituted any
proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Indenture Trustee or to such Holder, then and in
every such case, the Company, the Indenture Trustee and the Holders of
Securities and coupons shall, subject to any determination in such proceeding, be
restored severally and respectively to their former positions hereunder and
thereafter all rights

 

45

 

and remedies of the
Indenture Trustee and the Holders shall continue as though no such proceeding
had been instituted.

 

Section 5.10.                         Rights
and Remedies Cumulative.

 

Except
as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities or coupons in the last paragraph of Section 3.06,
no right or remedy herein conferred upon or reserved to the Indenture Trustee
or to the Holders of Securities or coupons is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

 

Section 5.11.                         Delay
or Omission Not Waiver.

 

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

 

Section 5.12.                         Control
by Holders of Securities.

 

The
Holders of not less than a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Indenture
Trustee or exercising any trust or power conferred on the Indenture Trustee
with respect to the Securities of such series, provided that

 

(1)  such direction
shall not be in conflict with any rule of law or with this Indenture,

 

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

 

(3)  the Indenture
Trustee need not take any action which might involve it in personal liability
or be unduly prejudicial to the Holders of Securities of such series not
joining therein.

 

Nothing
in this Indenture shall impair the right of the Indenture Trustee in its
discretion to take any action deemed proper by the Indenture Trustee and which
is not inconsistent with such direction by Holders.

 

Section 5.13.                         Waiver
of Past Defaults.

 

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

 

46

 

(1)  in the payment of
the principal of (or premium, if any) or interest on or Additional Amounts
payable in respect of any Security of such series or any related coupons, or

 

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

 

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 Event of Default or impair any right consequent thereon.

 

Section 5.14.                         Waiver
of Usury, Stay or Extension Laws.

 

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

 

Section 5.15.                         Undertaking
for Costs.

 

All
parties to this Indenture agree, and each Holder of any Security by his
acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Indenture Trustee for any
action taken or omitted by it as Indenture Trustee, the filing by any party
litigant in such suit of an undertaking to pay the costs of such suit, and that
such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant in such suit having due regard to
the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit
instituted by the Indenture Trustee, to any suit instituted by any Holder, or
group of Holders, holding in the aggregate more than 10% in principal amount of
the Outstanding Securities of any series, or to any suit instituted by any
Holder for the enforcement of the payment of the principal of (or premium, if
any) or interest on any Security on or after the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on or after the
Redemption Date).

 

ARTICLE VI

 

THE INDENTURE TRUSTEE

 

Section 6.01.                         Notice
of Defaults.

 

Within
90 days after the occurrence of any default hereunder with respect to the
Securities of any series, the Indenture Trustee shall transmit in the manner
and to the extent provided in TIA Section 313(c), notice of such default
hereunder known to the Indenture Trustee, unless such default shall have been
cured or waived; provided, however, that, except in

 

47

 

the case of a default in the
payment of the principal of (or premium, if any) or interest on or any
Additional Amounts with respect to any Security of such series, or in the
payment of any sinking fund installment with respect to the Securities of such
series, the Indenture Trustee shall be protected in withholding such notice if
and so long as Responsible Officers of the Indenture Trustee in good faith
determine that the withholding of such notice is in the interests of the
Holders of the Securities and coupons of such series; and provided further that
in the case of any default or breach of the character specified in Section 5.01(4) with
respect to the Securities and coupons of such series, no such notice to Holders
shall be given until at least 60 days after the occurrence thereof. For the
purpose of this Section, the term “default” means any event which is, or after
notice or lapse of time or both would become, an Event of Default with respect
to the Securities of such series.

 

Section 6.02.                         Certain
Rights of Indenture Trustee.

 

Subject
to the provisions of TIA Section 315(a) through 315(d):

 

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

 

(2)  any request or
direction of the Company mentioned herein shall be sufficiently evidenced by a
Company Request or Company Order (other than delivery of any Security, together
with any coupons appertaining thereto, to the Indenture Trustee for
authentication and delivery pursuant to Section 3.03 which shall be
sufficiently evidenced as provided therein) and any resolution of the Board of
Trustees may be sufficiently evidenced by a Board Resolution;

 

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

 

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

 

(5)  the Indenture
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 of Securities of any series or any related coupons pursuant to this
Indenture, unless such Holders shall have offered to the Indenture Trustee
security or indemnity reasonably satisfactory to the Indenture Trustee against
the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction;

 

(6)  the Indenture
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument,

 

48

 

opinion, report, notice, request, direction,
consent, order, bond, debenture, note, coupon or other paper or document,
unless requested in writing so to do by the Holders of not less than a majority
in aggregate principal amount of the Outstanding Securities of any series;
provided that, if the payment within a reasonable time to the Indenture Trustee
of the costs, expenses or liabilities likely to be incurred by it in the making
of such investigation is, in the opinion of the Indenture Trustee, not
reasonably assured to the Indenture Trustee by the security afforded to it by
the terms of this Indenture, the Indenture Trustee may require reasonable indemnity
against such expenses or liabilities as a condition to proceeding; the
reasonable expenses of every such examination shall be paid by the Holders or,
if paid by the Indenture Trustee, shall be repaid by the Holders upon demand.
The Indenture Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the
Indenture Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises
of the Company, relevant to the facts or matters that are the subject of its
inquiry, personally or by agent or attorney;

 

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

 

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

 

The
Indenture Trustee shall not be required to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

 

Except
during the continuance of an Event of Default, the Indenture Trustee undertakes
to perform only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture
against the Indenture Trustee.

 

Section 6.03.                         Not
Responsible for Recitals or Issuance of Securities.

 

The
recitals contained herein and in the Securities, except the Indenture Trustee’s
certificate of authentication, and in any coupons shall be taken as the
statements of the Company, and neither the Indenture Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The
Indenture Trustee makes no representations as to the validity or sufficiency of
this Indenture or of the Securities or coupons, except that the Indenture
Trustee represents that it is duly authorized to execute and deliver this
Indenture, authenticate the Securities and perform its obligations hereunder.
Neither the Indenture Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Company of Securities or the proceeds
thereof.

 

49

 

Section 6.04.                         May Hold
Securities.

 

The
Indenture Trustee, any Paying Agent, Security Registrar, Authenticating Agent
or any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and coupons and, subject to TIA
Sections 310(b) and 311, may otherwise deal with the Company with the same
rights it would have if it were not Indenture Trustee, Paying Agent, Security
Registrar, Authenticating Agent or such other agent.

 

Section 6.05.                         Money
Held in Trust.

 

Money
held by the Indenture Trustee in trust hereunder need not be segregated from
other funds except to the extent required by law. The Indenture Trustee shall
be under no liability for interest on any money received by it hereunder except
as otherwise agreed with the Company.

 

Section 6.06.                         Compensation
and Reimbursement.

 

The
Company agrees:

 

(1) to pay to the
Indenture Trustee from time to time reasonable compensation for all services
rendered by it hereunder (which compensation shall not be limited by any
provision of law in regard to the compensation of an Indenture Trustee of an
express trust);

 

(2) except as otherwise
expressly provided herein, to reimburse each of the Indenture Trustee and any
predecessor Indenture Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Indenture Trustee in
accordance with any provision of this Indenture (including the reasonable
compensation and the reasonable expenses and disbursements of its agents and
counsel), except any such expense, disbursement or advance as may be
attributable to its negligence or bad faith; and

 

(3) to indemnify each
of the Indenture Trustee and any predecessor Indenture Trustee for, and to hold
it harmless against, any loss, liability or expense incurred without negligence
or bad faith on its part, arising out of or in connection with the acceptance
or administration of the trust or trusts hereunder, including the costs and
expenses of defending itself against any claim or liability in connection with
the exercise or performance of any of its powers or duties hereunder.

 

When
the Indenture Trustee incurs expenses or renders services in connection with an
Event of Default specified in Section 5.01(5) or Section 5.01(6),
the expenses (including the reasonable charges and expenses of its counsel) and
the compensation for the services are intended to constitute expenses of
administration under any applicable Federal or state bankruptcy, insolvency or
other similar law.

 

As
security for the performance of the obligations of the Company under this Section,
the Indenture Trustee shall have a lien prior to the Securities upon all
property and funds held or collected by the Indenture Trustee as such, except
funds held in trust for the payment of principal of (or premium, if any) or
interest on particular Securities or any coupons.

 

The
provisions of this Section shall survive the termination of this
Indenture.

 

50

 

Section 6.07.                         Corporate
Indenture Trustee Required; Eligibility; Conflicting Interests.

 

There
shall at all times be an Indenture Trustee hereunder which shall be eligible to
act as Indenture Trustee under TIA Section 310(a)(1) and shall have a
combined capital and surplus of at least $50,000,000. If such corporation
publishes reports of condition at least annually, pursuant to law or the
requirements of Federal, state, territorial or District of Columbia supervising
or examining authority, then for the purposes of this Section, the combined
capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so
published. If at any time the Indenture Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article. Neither
the Company nor any Person directly or indirectly controlling, controlled by,
or under common control with the Company shall serve as Indenture Trustee.

 

Section 6.08.                         Resignation
and Removal; Appointment of Successor.

 

(a) 
No resignation or removal of the Indenture Trustee and no appointment of a
successor Indenture Trustee pursuant to this Article shall become
effective until the acceptance of appointment by the successor Indenture Trustee
in accordance with the applicable requirements of Section 6.09.

 

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

 

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

 

(d) 
If at any time:

 

(1) the Indenture
Trustee shall fail to comply with the provisions of TIA Section 310(b) after
written request therefor by the Company or by any Holder of a Security who has
been a bona fide Holder of a Security for at least six months, or

 

(2) the Indenture
Trustee shall cease to be eligible under Section 6.07 and shall fail to
resign after written request therefor by the Company or by any Holder of a
Security who has been a bona fide Holder of a Security for at least six months,
or

 

(3) the Indenture
Trustee shall become incapable of acting or shall be adjudged bankrupt or
insolvent or a receiver of the Indenture Trustee or of its property shall be
appointed or any public officer shall take charge or control of

 

51

 

the Indenture Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation,

 

then, in any such case, (i) the
Company by or pursuant to a Board Resolution may remove the Indenture Trustee
and appoint a successor Indenture Trustee with respect to all Securities, or (ii) subject
to TIA Section 315(e), any Holder of a Security who has been a bona fide
Holder of a Security for at least six months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the
removal of the Indenture Trustee with respect to all Securities and the
appointment of a successor Indenture Trustee or Indenture Trustees.

 

(e) 
If the Indenture Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Indenture Trustee for any
cause with respect to the Securities of one or more series, the Company, by or
pursuant to a Board Resolution, shall promptly appoint a successor Indenture
Trustee or Indenture Trustees with respect to the Securities of that or those
series (it being understood that any such successor Indenture Trustee may be
appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Indenture Trustee with respect to
the Securities of any particular series). If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a
successor Indenture Trustee with respect to the Securities of any series shall
be appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring
Indenture Trustee, the successor Indenture Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor
Indenture Trustee with respect to the Securities of such series and to that
extent supersede the successor Indenture Trustee appointed by the Company. If
no successor Indenture Trustee with respect to the Securities of any series
shall have been so appointed by the Company or the Holders of Securities and
accepted appointment in the manner hereinafter provided, any Holder of a
Security who has been a bona fide Holder of a Security of such series for at
least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor
Indenture Trustee with respect to Securities of such series.

 

(f) 
The Company shall give notice of each resignation and each removal of the
Indenture Trustee with respect to the Securities of any series in the manner
provided for notices to the Holders of Securities in Section 1.06. Each
notice shall include the name of the successor Indenture Trustee with respect
to the Securities of such series and the address of its Corporate Trust Office.

 

Section 6.09.                         Acceptance
of Appointment by Successor.

 

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

 

52

 

all property and money held
by such retiring Indenture Trustee hereunder, subject nevertheless to its
claim, if any, provided for in Section 6.06.

 

(b) 
In case of the appointment hereunder of a successor Indenture Trustee with
respect to the Securities of one or more (but not all) series, the Company, the
retiring Indenture Trustee and each successor Indenture Trustee with respect to
the Securities of one or more series shall execute and deliver an indenture
supplemental hereto, pursuant to Article IX hereof, wherein each successor
Indenture Trustee shall accept such appointment and which (1) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor Indenture Trustee all the rights,
powers, trusts and duties of the retiring Indenture Trustee with respect to the
Securities of that or those series to which the appointment of such successor
Indenture Trustee relates, (2) if the retiring Indenture Trustee is not
retiring with respect to all Securities, shall contain such provisions as shall
be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the retiring Indenture Trustee with respect to the Securities of
that or those series as to which the retiring Indenture Trustee is not retiring
shall continue to be vested in the retiring Indenture Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Indenture Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Indenture Trustees co-trustees of
the same trust and that each such Indenture Trustee shall be trustee of a trust
or trusts hereunder separate and apart form any trust or trusts hereunder
administered by any other such Indenture Trustee; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Indenture Trustee shall become effective to the extent provided
therein and each such successor Indenture Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and
duties of the retiring Indenture Trustee with respect to the Securities of that
or those series to which the appointment of such successor Indenture Trustee
relates; but, on request of the Company or any successor Indenture Trustee,
such retiring Indenture Trustee shall duly assign, transfer and deliver to such
successor Indenture Trustee all property and money held by such retiring
Indenture Trustee hereunder with respect to the Securities of that or those
series to which the appointment of such successor Indenture Trustee relates.

 

(c) 
Upon request of any such successor Indenture Trustee, the Company shall execute
any and all instruments for more fully and certainly vesting in and confirming
to such successor Indenture Trustee all such rights, powers and trusts referred
to in paragraph (a) or (b) of this Section 6.09, as the case may
be.

 

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

 

Section 6.10.                         Merger,
Conversion, Consolidation or Succession to Business.

 

Any
corporation into which the Indenture Trustee may be merged or converted or with
which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Indenture Trustee shall be a party, or
any corporation succeeding to all or substantially all of the corporate trust
business of the Indenture Trustee, shall be the successor of the Indenture
Trustee hereunder, provided such corporation shall be otherwise qualified and
eligible under this Article, without the execution or filing of any paper or
any further act on the part of any of the parties hereto. In case any
Securities or coupons shall have

 

53

 

been authenticated, but not
delivered, by the Indenture Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Indenture Trustee may adopt
such authentication and deliver the Securities or coupons so authenticated with
the same effect as if such successor Indenture Trustee had itself authenticated
such Securities or coupons. In case any Securities or coupons shall not have
been authenticated by such predecessor Indenture Trustee, any such successor
Indenture Trustee may authenticate and deliver such Securities or coupons, in
either its own name or that of its predecessor Indenture Trustee, with the full
force and effect which this Indenture provides for the certificate of
authentication of the Indenture Trustee.

 

Section 6.11.                         Appointment
of Authenticating Agent.

 

At
any time when any of the Securities remain Outstanding, the Indenture Trustee
may appoint an Authenticating Agent or Agents with respect to one or more
series of Securities which shall be authorized to act on behalf of the
Indenture Trustee to authenticate Securities of such series issued upon
exchange, registration of transfer or partial redemption or repayment thereof,
and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Indenture Trustee hereunder. Any such appointment shall be
evidenced by an instrument in writing signed by a Responsible Officer of the
Indenture Trustee, a copy of which instrument shall be promptly furnished to
the Company. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Indenture Trustee or the Indenture Trustee’s
certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the Indenture Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Indenture Trustee by an Authenticating Agent. Each Authenticating Agent
shall be acceptable to the Company and shall at all times be a bank or trust
company or corporation organized and doing business and in good standing under
the laws of the United States of America or of any state or the District of
Columbia, authorized under such laws to act as Authenticating Agent, having a
combined capital and surplus of not less than $50,000,000 and subject to
supervision or examination by Federal or state authorities. If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to laws or the requirements of the aforesaid supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such Authenticating Agent shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published.
In case at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, such Authenticating Agent shall
resign immediately in the manner and with the effect specified in this Section.

 

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

 

An
Authenticating Agent for any series of Securities may at any time resign by
giving written notice of resignation to the Indenture Trustee for such series
and to the Company. The Indenture Trustee for any series of Securities may at
any time terminate the agency of an Authenticating Agent by giving written
notice of termination to such Authenticating Agent and to the Company. Upon
receiving such a notice of resignation or upon such a termination, or in any
case at any time such Authenticating Agent shall cease to be eligible in
accordance with the

 

54

 

provisions of this Section,
the Indenture Trustee for such series may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall give notice of such
appointment to all Holders of Securities of the series with respect to which
such Authenticating Agent will serve in the manner set forth in Section 1.06.
Any successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent
herein. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

 

The
Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation including reimbursement of its reasonable expenses for its
services under this Section.

 

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

 

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

 

	
   

  	
  [NAME OF
  INDENTURE TRUSTEE]

  
	
   

  	
  as Indenture Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  as Authenticating Agent

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  

 

ARTICLE VII

 

HOLDERS’ LISTS AND REPORTS BY INDENTURE
TRUSTEE AND COMPANY

 

Section 7.01.                         Disclosure
of Names and Addresses of Holders.

 

Every
Holder of Securities or coupons, by receiving and holding the same, agrees with
the Company and the Indenture Trustee that neither the Company nor the
Indenture Trustee nor any Authenticating Agent nor any Paying Agent nor any
Security Registrar shall be held accountable by reason of the disclosure of any
information as to the names and addresses of the Holders of Securities in accordance
with TIA Section 312, regardless of the source from which such information
was derived, and that the Indenture Trustee shall not be held accountable by
reason of mailing any material pursuant to a request made under TIA Section 312(b).

 

55

 

Section 7.02.                         Reports
by Indenture Trustee.

 

Within
60 days after May 15 of each year commencing with the first [ DATE ] after
the first issuance of Securities pursuant to this Indenture, the Indenture
Trustee shall transmit by mail to all Holders of Securities as provided in TIA Section 313(c) a
brief report dated as of [ DATE ] if required by TIA Section 313(a). The
Indenture Trustee also shall comply with TIA Sections 313(b) and 313(c).

 

A
copy of each report at the time of its mailing to Holders shall be delivered to
the Company and filed by the Indenture Trustee with the Commission and each
national securities exchange on which the Securities are listed. The Company
agrees to notify the Indenture Trustee of each national securities exchange on
which the Securities are listed.

 

Section 7.03.                         Reports
by Company.

 

The
Company will:

 

(1) file with the
Indenture Trustee, within 15 days after the Company is required to file the
same with the Commission, copies of the annual reports and of the information,
documents and other reports (or copies of such portions of any of the foregoing
as the Commission may from time to time by rules and regulations
prescribe) which the Company may be required to file with the Commission pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of
1934; or, if the Company is not required to file information, documents or
reports pursuant to either of such Sections, then it will file with the
Indenture Trustee and the Commission, in accordance with rules and
regulations prescribed from time to time by the Commission, such of the
supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Securities Exchange Act of 1934 in
respect of a security listed and registered on a national securities exchange
as may be prescribed from time to time in such rules and regulations;

 

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

 

(3) transmit by mail to
the Holders of Securities, within 30 days after the filing thereof with the
Indenture Trustee, in the manner and to the extent provided in TIA Section 313(c),
such summaries of any information, documents and reports required to be filed by
the Company pursuant to paragraphs (1) and (2) of this Section as
may be required by rules and regulations prescribed from time to time by
the Commission.

 

Section 7.04.                         Company
to Furnish Indenture Trustee Names and Addresses of Holders.

 

The
Company will furnish or cause to be furnished to the Indenture Trustee:

 

(a) 
semiannually, not later than 15 days after the Regular Record Date for interest
for each series of Securities, a list, in such form as the Indenture Trustee
may reasonably require, of

 

56

 

the names and addresses of
the Holders of Registered Securities of such series as of such Regular Record
Date, or if there is no Regular Record Date for interest for such series of
Securities, semiannually, upon such dates as are set forth in the Board
Resolution or indenture supplemental hereto authorizing such series, and

 

(b) 
at such other times as the Indenture Trustee may request in writing, within 30
days after the receipt by the Company of any such request, a list of similar
form and content as of a date not more than 15 days prior to the time such list
is furnished, provided, however, that, so long as the Indenture Trustee is the
Security Registrar, no such list shall be required to be furnished.

 

ARTICLE VIII

 

CONSOLIDATION, MERGER, SALE,  LEASE OR CONVEYANCE

 

Section 8.01.                         Consolidations
and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to
Certain Conditions.

 

Without
the consent of any Holders of Securities, the Company may consolidate with, or
sell, lease or convey all or substantially all of its assets to, or merge with
or into any other corporation, provided that in any such case, (1) either
the Company shall be the continuing corporation, or the successor corporation
shall be a corporation organized and existing under the laws of the United
States or a State thereof and such successor corporation shall expressly assume
the due and punctual payment of the principal of (and premium, if any) and any
interest (including all Additional Amounts, if any, payable pursuant to Section 10.10)
on all of the Securities, according to their tenor, and the due and punctual
performance and observance of all of the covenants and conditions of this
Indenture to be performed by the Company by supplemental indenture, complying
with Article IX hereof, satisfactory to the Indenture Trustee, executed
and delivered to the Indenture Trustee by such corporation and (2) immediately
after giving effect to such transaction and treating any indebtedness which
becomes an obligation of the Company or any Subsidiary as a result thereof as
having been incurred by the Company or such Subsidiary at the time of such
transaction, no Event of Default, and no event which, after notice or the lapse
of time, or both, would become an Event of Default, shall have occurred and be
continuing.

 

Section 8.02.                         Rights
and Duties of Successor Corporation.

 

In
case of any such consolidation, merger, sale, lease or conveyance and upon any
such assumption by the successor corporation, such successor corporation shall
succeed to and be substituted for the Company, with the same effect as if it
had been named herein as the party of the first part, and the predecessor
corporation, except in the event of a lease, shall be relieved of any further
obligation under this Indenture and the Securities. Such successor corporation
thereupon may cause to be signed, and may issue either in its own name or in
the name of the Company, any or all of the Securities issuable hereunder which
theretofore shall not have been signed by the Company and delivered to the
Indenture Trustee; and, upon the order of such successor corporation, instead
of the Company, and subject to all the terms, conditions and limitations in
this Indenture prescribed, the Indenture Trustee shall authenticate and shall
deliver any Securities which previously shall have been signed and delivered by
the officers of the

 

57

 

Company to the Indenture
Trustee for authentication, and any Securities which such successor corporation
thereafter shall cause to be signed and delivered to the Indenture Trustee for
that purpose. All the Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all
of such Securities had been issued at the date of the execution hereof.

 

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

 

Section 8.03.                         Officers’
Certificate and Opinion of Counsel.

 

Any
consolidation, merger, sale, lease or conveyance permitted under Section 8.01
is also subject to the condition that the Indenture Trustee receive an Officers’
Certificate and an Opinion of Counsel to the effect that any such
consolidation, merger, sale, lease or conveyance, and the assumption by any
successor corporation, complies with the provisions of this Article and
that all conditions precedent herein provided for relating to such transaction
have been complied with.

 

ARTICLE IX

 

SUPPLEMENTAL INDENTURES

 

Section 9.01.                         Supplemental
Indentures Without Consent of Holders.

 

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

 

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

 

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

 

(3) to add any
additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such Events of Default are to be for the benefit
of less than all series of Securities, stating that such Events of Default are
expressly being included solely for the benefit of such series); provided,
however, that in respect of any such additional Events of Default such supplemental
indenture may provide for a particular period of grace after default (which
period may be shorter or longer than that allowed in the case of other
defaults) or may provide for an immediate enforcement upon such default or may
limit the

 

58

 

remedies available to the Indenture Trustee upon
such default or may limit the right of the Holders of a majority in aggregate
principal amount of that or those series of Securities to which such additional
Events of Default apply to waive such default; or

 

(4) to add to or change
any of the provisions of this Indenture to provide that Bearer Securities may
be registrable as to principal, to change or eliminate any restrictions on the
payment of principal of or any premium or interest on Bearer Securities, to
permit Bearer Securities to be issued in exchange for Registered Securities, to
permit Bearer Securities to be issued in exchange for Bearer Securities of
other authorized denominations or to permit or facilitate the issuance of
Securities in uncertificated form, provided that any such action shall not
adversely affect the interests of the Holders of Securities of any series or
any related coupons in any material respect; or

 

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

 

(6) to secure one or
more series of the Securities; or

 

(7) to establish the
form or terms of Securities of any series and any related coupons as permitted
by Sections 2.01 and 3.01, including the provisions and procedures relating to
Securities convertible into Common Shares or Preferred Shares, as the case may
be; or

 

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

 

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

 

(10) to supplement any
of the provisions of this Indenture to such extent as shall be necessary to
permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Sections 4.01, 14.02 and 14.03; provided that any such action shall
not adversely affect the interests of the Holders of Securities of such series
and any related coupons or any other series of Securities in any material
respect.

 

59

 

Section 9.02.                         Supplemental
Indentures with Consent of Holders.

 

With
the consent of the Holders of not less than a majority in principal amount of all
Outstanding Securities affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Indenture Trustee, the Company, when
authorized by or pursuant to a Board Resolution, and the Indenture Trustee may
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities and any related coupons under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the
Holder of each Outstanding Security affected thereby:

 

(1) change the Stated
Maturity of the principal of (or premium, if any, on) or any installment of
principal of or interest on, any Security; or reduce the principal amount
thereof or the rate or amount of interest thereon or any Additional Amounts
payable in respect thereof, or any premium payable upon the redemption thereof,
or change any obligation of the Company to pay Additional Amounts pursuant to Section 10.10
(except as contemplated by Section 8.01(1) and permitted by Section 9.01(1)),
or reduce the amount of principal of an Original Issue Discount Security that
would be due and payable upon a declaration of acceleration of the Maturity
thereof pursuant to Section 5.02 or the amount thereof provable in
bankruptcy pursuant to Section 5.04, or adversely affect any right of
repayment at the option of the Holder of any Security, or change any Place of
Payment where, or the currency or currencies, currency unit or units or
composite currency or currencies in which, any Security or any premium or the
interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in
the case of redemption or repayment at the option of the Holder, on or after
the Redemption Date or the Repayment Date, as the case may be), or

 

(2) reduce the
percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or
the consent of whose Holders is required for any waiver with respect to such
series (or compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture, or
reduce the requirements of Section 15.04 for quorum or voting, or

 

(3) modify any of the
provisions of this Section, Section 5.13 or Section 10.11, except to
increase the required percentage to effect such action or to provide that
certain other provisions of this Indenture cannot be modified or waived without
the consent of the Holder of each Outstanding Security affected thereby.

 

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

 

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

 

60

 

respect to such covenant or
other provision, shall be deemed not to affect the rights under this Indenture
of the Holders of Securities of any other series.

 

Section 9.03.                         Execution
of Supplemental Indentures.

 

In
executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modification thereby of the
trusts created by this Indenture, the Indenture Trustee shall be entitled to
receive, and shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture. The Indenture Trustee may, but shall not be
obligated to, enter into any such supplemental indenture which affects the
Indenture Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

 

Section 9.04.                         Effect
of Supplemental Indentures.

 

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

 

Section 9.05.                         Conformity
with Trust Indenture Act.

 

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

 

Section 9.06.                         Reference
in Securities to Supplemental Indentures.

 

Securities
of any series authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article may, and shall, if
required by the Indenture Trustee, bear a notation in form approved by the
Indenture Trustee as to any matter provided for in such supplemental indenture.
If the Company shall so determine, new Securities of any series so modified as
to conform, in the opinion of the Indenture Trustee and the Company, to any
such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Indenture Trustee in exchange for
Outstanding Securities of such series.

 

ARTICLE X

 

COVENANTS

 

Section 10.01.                  Payment
of Principal, Premium, if any; Interest and Additional Amounts.

 

The
Company covenants and agrees for the benefit of the Holders of each series of
Securities that it will duly and punctually pay the principal of (and premium,
if any) and interest on and any Additional Amounts payable in respect of the
Securities of that series in accordance with the terms of such series of
Securities, any coupons appertaining thereto and this Indenture. Unless
otherwise specified as contemplated by Section 3.01 with respect to any
series of Securities, any interest due on and any Additional Amounts payable in
respect of Bearer Securities on or before Maturity, other than Additional
Amounts, if any, payable as provided in Section 10.10 in respect of
principal of (or premium, if any, on) such a Security, shall be payable

 

61

 

only upon presentation and
surrender of the several coupons for such interest installments as are
evidenced thereby as they severally mature. Unless otherwise specified with
respect to Securities of any series pursuant to Section 3.01, at the
option of the Company, all payments of principal may be paid by check to the
registered Holder of the Registered Security or other Person entitled thereto
against surrender of such Security.

 

Section 10.02.                  Maintenance
of Office or Agency.

 

If
Securities of a series are issuable only as Registered Securities, the Company
shall maintain in each Place of Payment for any series of Securities an office
or agency where Securities of that series may be presented or surrendered for
payment or conversion, where Securities of that series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may
be served. If Securities of a series are issuable as Bearer Securities, the
Company will maintain: in the Borough of Manhattan, The City of New York, an
office or agency where any Registered Securities of that series may be
presented or surrendered for payment or conversion, where any Registered
Securities of that series may be surrendered for registration of transfer,
where Securities of that series may be surrendered for exchange, where notices
and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be served and where Bearer Securities of that series and
related coupons may be presented or surrendered for payment or conversion in
the circumstances described in the following paragraph (and not otherwise);
subject to any laws or regulations applicable thereto, in a Place of Payment
for that series which is located outside the United States, an office or agency
where Securities of that series and related coupons may be presented and
surrendered for payment (including payment of any Additional Amounts payable on
Securities of that series pursuant to Section 10.10) or conversion;
provided, however, that if the Securities of that series are listed on any
stock exchange located outside the United States and such stock exchange shall
so require, the Company will maintain a Paying Agent for the Securities of that
series in any required city located outside the United States, as the case may
be, so long as the Securities of that series are listed on such exchange; and
subject to any laws or regulations applicable thereto, in a Place of Payment
for that series located outside the United States an office or agency where any
Registered Securities of that series may be surrendered for registration of
transfer, where Securities of that series may be surrendered for exchange and
where notices and demands to or upon the Company in respect of the Securities
of that series and this Indenture may be served. The Company will give prompt
written notice to the Indenture Trustee of the location, and any change in the
location, of each such office or agency. If at any time the Company shall fail
to maintain any such required office or agency or shall fail to furnish the
Indenture Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Indenture Trustee, except that Bearer Securities of that series and the related
coupons may be presented and surrendered for payment (including payment of any
Additional Amounts payable on Bearer Securities of that series pursuant to Section 10.10)
or conversion at the offices specified in the Security, in London, England, and
the Company hereby appoints the same as its agent to receive such respective
presentations, surrenders, notices and demands, and the Company hereby appoints
the Indenture Trustee its agent to receive all such presentations, surrenders,
notices and demands.

 

Unless
otherwise specified with respect to any Securities pursuant to Section 3.01,
no payment of principal, premium or interest on or Additional Amounts in
respect of Bearer Securities shall be made at any office or agency of the
Company in the United States or by check

 

62

 

mailed to any address in the
United States or by transfer to an account maintained with a bank located in
the United States; provided, however, that, if the Securities of a series are
payable in Dollars, payment of principal of and any premium and interest on any
Bearer Security (including any Additional Amounts payable on Securities of such
series pursuant to Section 10.10) shall be made at the office of the
Company’s Paying Agent in the Borough of Manhattan, The City of New York, if
(but only if) payment in Dollars of the full amount of such principal, premium,
if any, interest or Additional Amounts, as the case may be, at all offices or
agencies outside the United States maintained for the purpose by the Company in
accordance with this Indenture, is illegal or effectively precluded by exchange
controls or other similar restrictions.

 

The
Company may from time to time designate one or more other offices or agencies
where the Securities of one or more series may be presented or surrendered for
any or all of such purposes, and may from time to time rescind such
designations; provided, however, that no such designation or rescission shall
in any manner relieve the Company of its obligation to maintain an office or
agency in accordance with the requirements set forth above for Securities of
any series for such purposes. The Company will give prompt written notice to
the Indenture Trustee of any such designation or rescission and of any change
in the location of any such other office or agency. Unless otherwise specified
with respect to any Securities pursuant to Section 3.01 with respect to a
series of Securities, the Company hereby designates as a Place of Payment for
each series of Securities the office or agency of the Company in the Borough of
Manhattan, The City of New York, and initially appoints the Indenture Trustee
at its Corporate Trust Office as Paying Agent in The City of New York and as
its agent to receive all such presentations, surrenders, notices and demands.

 

Unless
otherwise specified with respect to any Securities pursuant to Section 3.01,
if and so long as the Securities of any series (i) are denominated in a
Foreign Currency or (ii) may be payable in a Foreign Currency, or so long
as it is required under any other provision of the Indenture, then the Company
will maintain with respect to each such series of Securities, or as so required,
at least one exchange rate agent.

 

Section 10.03.                  Money
for Securities Payments to Be Held in Trust.

 

If
the Company shall at any time act as its own Paying Agent with respect to any
series of any Securities and any related coupons, it will, on or before each
due date of the principal of (and premium, if any), or interest on or
Additional Amounts in respect of, any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled thereto a
sum in the currency or currencies, currency unit or units or composite currency
or currencies in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 3.01 for the Securities of such
series) sufficient to pay the principal (and premium, if any) or interest or
Additional Amounts so becoming due until such sums shall be paid to such
Persons or otherwise disposed of as herein provided, and will promptly notify
the Indenture Trustee of its action or failure so to act.

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities
and any related coupons, it will, on or before each due date of the principal
of (and premium, if any), or interest on or Additional Amounts in respect of,
any Securities of that series, deposit with a Paying Agent a sum (in the
currency or currencies, currency unit or units or composite currency or
currencies described in the preceding paragraph) sufficient to pay the
principal (and premium, if any) or interest or Additional Amounts, so becoming
due, such sum to be held in trust for the benefit of the Persons entitled to
such principal, premium or interest or

 

63

 

Additional
Amounts and (unless such Paying Agent is the Indenture Trustee) the Company
will promptly notify the Indenture Trustee of its action or failure so to act.

 

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

 

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

 

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

 

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

 

The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Indenture Trustee all
sums held in trust by the Company or such Paying Agent, such sums to be held by
the Indenture Trustee upon the same trusts as those upon which such sums were
held by the Company or such Paying Agent; and, upon such payment by any Paying
Agent to the Indenture Trustee, such Paying Agent shall be released from all
further liability with respect to such sums.

 

Except as otherwise provided in the Securities of any series, any money
deposited with the Indenture Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of (and premium, if any) or
interest on, or any Additional Amounts in respect of, any Security of any
series and remaining unclaimed for one year after such principal (and premium,
if any), interest or Additional Amounts has become due and payable shall be
paid to the Company upon Company Request or (if then held by the Company) shall
be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Company for
payment of such principal of (and premium, if any) or interest on, or any
Additional Amounts in respect of, any Security, without interest thereon, and
all liability of the Indenture Trustee or such Paying Agent with respect to
such trust money, and all liability of the Company as trustee thereof, shall
thereupon cease; provided, however, that the Indenture Trustee or such Paying
Agent, before being required to make any such repayment, may at the expense of
the Company cause to be published once, in an Authorized Newspaper, 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 publication, any unclaimed
balance of such money then remaining will be repaid to the Company.

 

Section 10.04.                  Existence.

 

Subject to Article Eight, the Company will do or cause to be done
all things necessary to preserve and keep in full force and effect its trust
existence, all material rights (by trust

 

64

 

agreement,
by-laws and statute) and material franchises, provided, however, that the
Company shall not be required to preserve any such right or franchise if the
Board of Trustees shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company.

 

Section 10.05.                  Maintenance
of Properties. 

 

The Company will cause all of its material properties used or useful in
the conduct of its business or the business of any Subsidiary to be maintained
and kept in good condition, repair and working order and supplied with all
necessary equipment and will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of
the Company may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided,
however, that the Company and its Subsidiaries shall not be prevented from
selling or otherwise disposing of their properties for value in the ordinary
course of business.

 

Section 10.06.                  Insurance.

 

The Company will cause each of its and its Subsidiaries’ insurable
properties to be insured against loss or damage in an amount at least equal to
their then full insurable value with insurers of recognized responsibility.

 

Section 10.07.                  Payment
of Taxes and Other Claims. 

 

The Company will pay or discharge or cause to be paid or discharged,
before the same shall become delinquent, (1) all taxes, assessments and
governmental charges levied or imposed upon it or any Subsidiary or upon the
income, profits or property of the Company or any Subsidiary, and (2) all
lawful claims for labor, materials and supplies which, if unpaid, might by law
become a lien upon the property of the Company or any Subsidiary; provided,
however, that the Company shall not be required to pay or discharge or cause to
be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings.

 

Section 10.08.                  Provision
of Financial Information. 

 

Whether or not the Company is subject to Section 13 or 15(d) of
the Securities Exchange Act of 1934, the Company will prepare the annual
reports, quarterly reports and other documents within 15 days of each of the
respective dates by which the Company would have been required to file such
annual reports, quarterly reports and other documents with the Commission
pursuant to such Section 13 or 15(d) and will (i) transmit by
mail to all Holders, as their names and addresses appear in the Security
Register, without cost to such Holders copies of the annual reports, quarterly
reports and other documents which the Company would have been required to file
with the Commission pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 if the Company were subject to such Sections, and (ii) file
with the Indenture Trustee copies of the annual reports, quarterly reports and
other documents which the Company would have been required to file with the
Commission pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 if the Company were subject to such Sections and (iii) promptly
upon written request and payment of the reasonable cost of duplication and
delivery, supply copies of such documents to any prospective Holder.

 

65

 

Section 10.09.                  Statement
as to Compliance. 

 

The Company will deliver to the Indenture Trustee, within 120 days
after the end of each fiscal year, a brief certificate from the principal
executive officer, principal financial officer or principal accounting officer
as to his or her knowledge of the Company’s compliance with all conditions and
covenants under this Indenture and, in the event of any noncompliance,
specifying such noncompliance and the nature and status thereof. For purposes
of this Section 10.09, such compliance shall be determined without regard
to any period of grace or requirement of notice under this Indenture.

 

Section 10.10.                  Additional
Amounts. 

 

If any Securities of a series provide for the payment of Additional
Amounts, the Company will pay to the Holder of any Security of such series or any
coupon appertaining thereto Additional Amounts as may be specified as
contemplated by Section 3.01. Whenever in this Indenture there is
mentioned, in any context except in the case of Section 5.02(1), the
payment of the principal of or any premium or interest on, or in respect of,
any Security of any series or payment of any related coupon or the net proceeds
received on the sale or exchange of any Security of any series, such mention
shall be deemed to include mention of the payment of Additional Amounts
provided by the terms of such series established pursuant to Section 3.01
to the extent that, in such context, Additional Amounts are, were or would be
payable in respect thereof pursuant to such terms and express mention of the
payment of Additional Amounts (if applicable) in any provisions hereof shall
not be construed as excluding Additional Amounts in those provisions hereof
where such express mention is not made.

 

Except as otherwise specified as contemplated by Section 3.01, if
the Securities of a series provide for the payment of Additional Amounts, at
least 10 days prior to the first Interest Payment Date with respect to that
series of Securities (or if the Securities of that series will not bear
interest prior to Maturity, the first day on which a payment of principal and
any premium is made), and at least 10 days prior to each date of payment of
principal and any premium or interest if there has been any change with respect
to the matters set forth in the below-mentioned Officers’ Certificate, the
Company will furnish the Indenture Trustee and the Company’s principal Paying
Agent or Paying Agents, if other than the Indenture Trustee, with an Officers’
Certificate instructing the Indenture Trustee and such Paying Agent or Paying
Agents whether such payment of principal of any premium or interest on the
Securities of that series shall be made to Holders of Securities of that series
or any related coupons who are not United States persons without withholding
for or on account of any tax, assessment or other governmental charge described
in the Securities of the series. If any such withholding shall be required,
then such Officers’ Certificate shall specify by country the amount, if any,
required to be withheld on such payments to such Holders of Securities of that
series or related coupons and the Company will pay to the Indenture Trustee or
such Paying Agent the Additional Amounts required by the terms of such
Securities. In the event that the Indenture Trustee or any Paying Agent, as the
case may be, shall not so receive the above-mentioned certificate, then the
Indenture Trustee or such Paying Agent shall be entitled (i) to assume
that no such withholding or deduction is required with respect to any payment
of principal or interest with respect to any Securities of a series or related
coupons until it shall have received a certificate advising otherwise and (ii) to
make all payments of principal and interest with respect to the Securities of a
series or related coupons without withholding or deductions until otherwise
advised. The Company covenants to indemnify the Indenture Trustee and any
Paying Agent for, and to hold them harmless against, any loss, liability or
expense reasonably incurred without negligence or bad faith on their part

 

66

 

arising
out of or in connection with actions taken or omitted by any of them or in
reliance on any Officers’ Certificate furnished pursuant to this Section or
in reliance on the Company’s not furnishing such an Officers’ Certificate.

 

Section 10.11.                  Waiver
of Certain Covenants. 

 

The Company may omit in any particular instance to comply with any
term, provision or condition set forth in Sections 10.04 to 10.08, inclusive,
if before or after the time for such compliance the Holders of at least a
majority in principal amount of all outstanding Securities of such series, by
Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such covenant or condition, but no such waiver shall
extend to or affect such covenant or condition except to the extent so
expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Indenture Trustee in respect
of any such term, provision or condition shall remain in full force and effect.

 

ARTICLE XI

 

REDEMPTION OF SECURITIES

 

Section 11.01.                  Applicability
of Article. 

 

Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.01 for Securities of any
series) in accordance with this Article.

 

Section 11.02.                  Election
to Redeem; Notice to Indenture Trustee. 

 

The election of the Company to redeem any Securities shall be evidenced
by or pursuant to a Board Resolution. In case of any redemption at the election
of the Company of less than all of the Securities of any series, the Company
shall, at least 45 days prior to the giving of the notice of redemption in Section 11.04
(unless a shorter notice shall be satisfactory to the Indenture Trustee),
notify the Indenture Trustee of such Redemption Date and of the principal
amount of Securities of such series to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Indenture Trustee with an Officers’
Certificate evidencing compliance with such restriction.

 

Section 11.03.                  Selection
by Indenture Trustee of Securities to Be Redeemed. 

 

If less than all the Securities of any series issued on the same day
with the same terms are to be redeemed, the particular Securities to be
redeemed shall be selected not more than 60 days prior to the Redemption Date
by the Indenture Trustee, from the Outstanding Securities of such series issued
on such date with the same terms not previously called for redemption, by such
method as the Indenture Trustee shall deem fair and appropriate and which may
provide for the selection for redemption of portions (equal to the minimum
authorized denomination for Securities of that series or any integral multiple
thereof) of the principal amount of Securities of such series of a denomination
larger than the minimum authorized denomination for Securities of that series.

 

67

 

The Indenture Trustee shall promptly notify the Company and the
Security Registrar (if other than itself) in writing of the Securities selected
for redemption and, in the case of any Securities selected for partial
redemption, the principal amount thereof to be redeemed.

 

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

 

Section 11.04.                  Notice
of Redemption. 

 

Notice of redemption shall be given in the manner provided in Section 1.06,
not less than 15 days nor more than 60 days prior to the Redemption Date,
unless a shorter period is specified by the terms of such series established
pursuant to Section 3.01, to each Holder of Securities to be redeemed, but
failure to give such notice in the manner herein provided to the Holder of any
Security designated for redemption as a whole or in part, or any defect in the
notice to any such Holder, shall not affect the validity of the proceedings for
the redemption of any other Security or portion thereof.

 

Any notice that is mailed to the Holders of Registered Securities in
the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the Holder receives the notice.

 

All notices of redemption shall state:

 

(1) the
Redemption Date,

 

(2) the
Redemption Price, accrued interest to the Redemption Date payable as provided
in Section 11.06, if any, and Additional Amounts, if any,

 

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

 

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

 

(5) that
on the Redemption Date, the Redemption Price and accrued interest to the
Redemption Date payable as provided in Section 11.06, if any, will become
due and payable upon each such Security, or the portion thereof, to be redeemed
and, if applicable, that interest thereon shall cease to accrue on and after
said date,

 

(6) the
Place or Places of Payment where such Securities, together in the case of
Bearer Securities with all coupons pertaining thereto, if any, maturing after
the Redemption Date, are to be surrendered for payment of the Redemption Price
and accrued interest, if any, or for conversion,

 

68

 

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

 

(8) that,
unless otherwise specified in such notice, Bearer Securities of any series, if
any, surrendered for redemption must be accompanied by all coupons maturing
subsequent to the date fixed for redemption or the amount of any such missing
coupon or coupons will be deducted from the Redemption Price, unless security
or indemnity satisfactory to the Company, the Indenture Trustee for such series
and any Paying Agent is furnished,

 

(9) if
Bearer Securities of any series are to be redeemed and any Registered
Securities of such series are not to be redeemed, and if such Bearer Securities
may be exchanged for Registered Securities not subject to redemption on this
Redemption Date pursuant to Section 3.05 or otherwise, the last date, as
determined by the Company, on which such exchanges may be made,

 

(10) the
CUSIP number of such Security, if any, and

 

(11)
if applicable, that a Holder of Securities who desires to convert Securities
for redemption must satisfy the requirements for conversion contained in such
Securities, the then existing conversion price or rate, the place or places
where such Securities may be surrendered for conversion, and the date and time
when the option to convert shall expire.

 

Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company’s request, by the
Indenture Trustee in the name and at the expense of the Company.

 

Section 11.05.                  Deposit
of Redemption Price. 

 

On or prior to any Redemption Date, the Company shall deposit with the
Indenture Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, which it may not do in the case of a sinking fund payment
under Article Twelve, segregate and hold in trust as provided in Section 10.03)
an amount of money in the currency or currencies, currency unit or units or
composite currency of currencies in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 3.01 for the
Securities of such series) sufficient to pay on the Redemption Date the
Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) accrued interest on, all the Securities or portions thereof which
are to be redeemed on that date.

 

If any Securities called for redemption are converted, any money
deposited with the Indenture Trustee or with any Paying Agent or so segregated
and held in trust for the redemption of such Security shall be paid to the
Company upon Company Request or, if then held by the Company, shall be
discharged from such trust.

 

Section 11.06.                  Securities
Payable on Redemption Date. 

 

Notice of redemption having been given as aforesaid, the Securities so
to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified in the currency or currencies, currency unit
or units of composite currency or currencies in which the Securities of such
series are payable (except as otherwise specified

 

69

 

pursuant
to Section 3.01 for the Securities of such series) (together with accrued
interest, if any, to the Redemption Date), and from and after such date (unless
the Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall, if the same were interest-bearing, cease to
bear interest and the coupons for such interest appertaining to any Bearer
Securities so to be redeemed, except to the extent provided below, shall be
void. Upon surrender of any such Security for redemption in accordance with
said notice, together with all coupons, if any, appertaining thereto maturing
after the Redemption Date, such Security shall be paid by the Company at the
Redemption Price, together with accrued interest, if any, to the Redemption
Date; provided, however, that installments of interest on Bearer Securities
whose Stated Maturity is on or prior to the Redemption Date shall be payable
only at an office or agency located outside the United States (except as
otherwise provided in Section 10.02) and, unless otherwise specified as
contemplated by Section 3.01, only upon presentation and surrender of
coupons for such interest; and provided further that, except as otherwise
provided with respect to Securities convertible into Common Shares or Preferred
Shares, installments of interest on Registered Securities whose Stated Maturity
is on or prior to the Redemption Date shall be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the
close of business on the relevant Record Dates according to their terms and the
provisions of Section 3.07.

 

If any Bearer Security surrendered for redemption shall not be
accompanied by all appurtenant coupons maturing after the Redemption Date, such
Security may be paid after deducting from the Redemption Price an amount equal
to the face amount of all such missing coupons, or the surrender of such
missing coupon or coupons may be waived by the Company and the Indenture
Trustee if there be furnished to them such security or indemnity as they may
require to save each of them and any Paying Agent harmless. If thereafter the
Holder of such Security shall surrender to the Indenture Trustee or any Paying
Agent any such missing coupon in respect of which a deduction shall have been
made from the Redemption Price, such Holder shall be entitled to receive the
amount so deducted; provided, however, that interest represented by coupons
shall be payable only at an office or agency located outside the United States
(except as otherwise provided in Section 10.02) and, unless otherwise
specified as contemplated by Section 3.01, only upon presentation and
surrender of those coupons.

 

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

 

Section 11.07.                  Securities
Redeemed in Part. 

 

Any Registered Security which is to be redeemed only in part (pursuant
to the provisions of this Article or of Article XII) shall be
surrendered at a Place of Payment therefor (with, if the Company or the
Indenture Trustee so requires, due endorsement by, or a written instrument of
transfer in form satisfactory to the Company and the Indenture Trustee duly
executed by, the Holder thereof or his attorney duly authorized in writing) and
the Company shall execute and the Indenture Trustee shall authenticate and
deliver to the Holder of such Security without service charge a new Security or
Securities of the same series, of any authorized denomination as requested by
such Holder in aggregate principal amount equal to and in exchange for the
unredeemed portion of the principal of the Security so surrendered. If a Global
Security is so surrendered, the Company shall execute and the Indenture Trustee
shall authenticate and deliver to the depository, without service charge, a new
Global Security in a denomination equal to and in exchange for the unredeemed
portion of the principal of the Global Security so surrendered.

 

70

 

ARTICLE XII

 

SINKING FUNDS

 

Section 12.01.                  Applicability
of Article. 

 

The provisions of this Article shall be applicable to any sinking
fund for the retirement of Securities of a series except as otherwise specified
as contemplated by Section 3.01 for Securities of such series.

 

The minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a “mandatory sinking
fund payment,” and any payment in excess of such minimum amount provided for by
the terms of such Securities of any series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of any Securities of any
series, the cash amount of any mandatory sinking fund payment may be subject to
reduction as provided in Section 12.02. Each sinking fund payment shall be
applied to the redemption of Securities of any series as provided for by the
terms of Securities of such series.

 

Section 12.02.                  Satisfaction
of Sinking Fund Payments with Securities. 

 

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

 

Section 12.03.                  Redemption
of Securities for Sinking Fund. 

 

Not less than 60 days prior to each sinking fund payment date for
Securities of any series, the Company will deliver to the Indenture Trustee an
Officers’ Certificate specifying the amount of the next ensuing mandatory
sinking fund payment for that series pursuant to the terms of that series, the
portion thereof, if any, which is to be satisfied by payment of cash in the
currency or currencies, currency unit or units or composite currency or
currencies in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 3.01 for the Securities of such
series) and the portion thereof, if any, which is to be satisfied by delivering
and crediting Securities of that series pursuant to Section 12.02, and the
optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and will also deliver to the Indenture Trustee any
Securities to be so delivered and credited. If such Officers’ Certificate shall
specify an optional amount to be added in cash to the next ensuing mandatory
sinking fund payment, the Company shall thereupon be obligated to pay the
amount therein specified. Not less than 30 days before each such sinking fund
payment date the Indenture Trustee shall select the Securities to be

 

71

 

redeemed
upon such sinking fund payment date in the manner specified in Section 11.03
and cause notice of the redemption thereof to be given in the name of and at
the expense of the Company in the manner provided in Section 11.04. Such
notice having been duly given, the redemption of such Securities shall be made
upon the terms and in the manner stated in Sections 11.06 and 11.07.

 

ARTICLE XIII

 

REPAYMENT AT THE OPTION OF HOLDERS

 

Section 13.01.                  Applicability
of Article. 

 

Repayment of Securities of any series before their Stated Maturity at
the option of Holders thereof shall be made in accordance with the terms of
such Securities, if any, and (except as otherwise specified by the terms of
such series established pursuant to Section 3.01) in accordance with this
Article.

 

Section 13.02.                  Repayment
of Securities. 

 

Securities of any series subject to repayment in whole or in part at
the option of the Holders thereof will, unless otherwise provided in the terms
of such Securities, be repaid at a price equal to the principal amount thereof,
together with interest, if any, thereon accrued to the Repayment Date specified
in or pursuant to the terms of such Securities. The Company covenants that on
or prior to the Repayment Date it will deposit with the Indenture Trustee or
with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 10.03) an amount of
money in the currency or currencies, currency unit or units or composite
currency or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 3.01 for the Securities
of such series) sufficient to pay the principal (or, if so provided by the
terms of the Securities of any series, a percentage of the principal) of, and
(except if the Repayment Date shall be an Interest Payment Date) accrued
interest on, all the Securities or portions thereof, as the case may be, to be
repaid on such date.

 

Section 13.03.                  Exercise
of Option. 

 

Securities of any series subject to repayment at the option of the Holders
thereof will contain an “Option to Elect Repayment” form on the reverse of such
Securities. In order for any Security to be repaid at the option of the Holder,
the Indenture Trustee must receive at the Place of Payment therefor specified
in the terms of such Security (or at such other place or places of which the
Company shall from time to time notify the Holders of such Securities) not
earlier than 60 days nor later than 30 days prior to the Repayment Date (1) the
Security so providing for such repayment together with the “Option to Elect
Repayment” form on the reverse thereof duly completed by the Holder (or by the
Holder’s attorney duly authorized in writing) or (2) a telegram, telex,
facsimile transmission or a letter from a member of a national securities
exchange, or the National Association of Securities Dealers, Inc. (“NASD”),
or a commercial bank or trust company in the United States setting forth the
name of the Holder of the Security, the principal amount of the Security, the
principal amount of the Security to be repaid, the CUSIP number, if any, or a
description of the tenor and terms of the Security, a statement that the option
to elect repayment is being exercised thereby and a guarantee that the Security
to be repaid, together with the duly completed form entitled “Option to Elect
Repayment” on the

 

72

 

reverse
of the Security, will be received by the Indenture Trustee not later than the
fifth Business Day after the date of such telegram, telex, facsimile
transmission or letter; provided, however, that such telegram, telex, facsimile
transmission or letter shall only be effective if such Security and form duly
completed are received by the Indenture Trustee by such fifth Business Day. If
less than the entire principal amount of such Security is to be repaid in
accordance with the terms of such Security, the principal amount of such
Security to be repaid, in increments of the minimum denomination for Securities
of such series, and the denomination or denominations of the Security or
Securities to be issued to the Holder for the portion of the principal amount
of such Security surrendered that is not to be repaid, must be specified. The
principal amount of any Security providing for repayment at the option of the
Holder thereof may not be repaid in part if, following such repayment, the
unpaid principal amount of such Security would be less than the minimum
authorized denomination of Securities of the series of which such Security to
be repaid is a part. Except as otherwise may be provided by the terms of any
Security providing for repayment at the option of the Holder thereof, exercise
of the repayment option by the Holder shall be irrevocable unless waived by the
Company.

 

Section 13.04.                  When
Securities Presented for Repayment Become Due and Payable. 

 

If Securities of any series providing for repayment at the option of
the Holders thereof shall have been surrendered as provided in this Article and
as provided by or pursuant to the terms of such Securities, such Securities or
the portions thereof, as the case may be, to be repaid shall become due and
payable and shall be paid by the Company on the Repayment Date therein
specified, and on and after such Repayment Date (unless the Company shall default
in the payment of such Securities on such Repayment Date) such Securities
shall, if the same were interest-bearing, cease to bear interest and the
coupons for such interest appertaining to any Bearer Securities so to be
repaid, except to the extent provided below, shall be void. Upon surrender of
any such Security for repayment in accordance with such provisions, together
with all coupons, if any, appertaining thereto maturing after the Repayment
Date, the principal amount of such Security so to be repaid shall be paid by
the Company, together with accrued interest, if any, to the Repayment Date;
provided, however, that coupons whose Stated Maturity is on or prior to the
Redemption Date shall be payable only at an office or agency located outside
the United States (except as otherwise provided in Section 10.02) and,
unless otherwise specified pursuant to Section 3.01, only upon
presentation and surrender of such coupons; and provided further that, in the
case of Registered Securities, installments of interest, if any, whose Stated
Maturity is on or prior to the Repayment Date shall be payable (but without
interest thereon, unless the Company shall default in the payment thereof) to
the Holders of such Securities, or one or more Predecessor Securities, registered
as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 3.07.

 

If any Bearer Security surrendered for repayment shall not be
accompanied for all appurtenant coupons maturing after the Repayment Date, such
Security may be paid after deducting from the amount payable therefor as
provided in Section 13.02 an amount equal to the face amount of all such
missing coupons, or the surrender of such missing coupon or coupons may be
waived by the Company and the Indenture Trustee if there be furnished to them
such security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to the Indenture Trustee or any Paying Agent any such missing coupon
in respect of which a deduction shall have been made as provided in the
preceding sentence, such Holder shall be entitled to receive the amount so
deducted; provided, however, that interest represented by coupons shall be
payable only at an

 

73

 

office
or agency located outside the United States (except as otherwise provided in Section 10.02)
and, unless otherwise specified as contemplated by Section 3.01, only upon
presentation and surrender of those coupons.

 

If the principal amount of any Security surrendered for repayment shall
not be so repaid upon surrender thereof, such principal amount (together with
interest, if any, thereon accrued to such Repayment Date) shall, until paid, bear
interest from the Repayment Date at the rate of interest or Yield to Maturity
(in the case of Original Issue Discount Securities) set forth in such Security.

 

Section 13.05.                  Securities
Repaid in Part. 

 

Upon surrender of any Registered Security which is to be repaid in part
only, the Company shall execute and the Indenture Trustee shall authenticate
and deliver to the Holder of such Security, without service charge and at the
expense of the Company, a new Registered Security or Securities of the same series,
of any authorized denomination specified by the Holder, in an aggregate
principal amount equal to and in exchange for the portion of the principal of
such Security so surrendered which is not to be repaid.

 

ARTICLE XIV

 

DEFEASANCE AND COVENANT DEFEASANCE 

 

Section 14.01.                  Applicability
of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. 

 

If, pursuant to Section 3.01, provision is made for either or both
of (a) defeasance of the Securities of or within a series under Section 14.02
or (b) covenant defeasance of the Securities of or within a series under Section 14.03,
then the provisions of such Section or Sections, as the case may be,
together with the other provisions of this Article (with such
modifications thereto as may be specified pursuant to Section 3.01 with
respect to any Securities), shall be applicable to such Securities and any
coupons appertaining thereto, and the Company may at its option by Board
Resolution, at any time, with respect to such Securities and any coupons
appertaining thereto, elect to have Section 14.02 (if applicable) or Section 14.03
(if applicable) be applied to such Outstanding Securities and any coupons
appertaining thereto upon compliance with the conditions set forth below in
this Article.

 

Section 14.02.                  Defeasance
and Discharge. 

 

Upon the Company’s exercise of the above option applicable to this Section with
respect to any Securities of or within a series, the Company shall be deemed to
have been discharged from its obligations with respect to such Outstanding
Securities and any coupons appertaining thereto on the date the conditions set
forth in Section 14.04 are satisfied (hereinafter, “defeasance”). For this
purpose, such defeasance means that the Company shall be deemed to have paid
and discharged the entire indebtedness represented by such Outstanding
Securities and any coupons appertaining thereto, which shall thereafter be
deemed to be “Outstanding” only for the purposes of Section 14.05 and the
other Sections of this Indenture referred to in clauses (A) and (B) below,
and to have satisfied all of its other obligations under such Securities and
any coupons appertaining thereto and this Indenture insofar as such Securities
and any coupons appertaining thereto are concerned (and the Indenture Trustee,
at the expense of the Company,

 

74

 

shall
execute proper instruments acknowledging the same), except for the following
which shall survive until otherwise terminated or discharged hereunder: (A) the
rights of Holders of such Outstanding Securities and any coupons appertaining
thereto to receive, solely from the trust fund described in Section 14.04
and as more fully set forth in such Section, payments in respect of the
principal of (and premium, if any) and interest, if any, on such Securities and
any coupons appertaining thereto when such payments are due, (B) the
Company’s obligations with respect to such Securities under Sections 3.05,
3.06, 10.02 and 10.03 and with respect to the payment of Additional Amounts, if
any, on such Securities as contemplated by Section 10.10, (C) the
rights, powers, trusts, duties and immunities of the Indenture Trustee
hereunder and (D) this Article. Subject to compliance with this Article XIV,
the Company may exercise its option under this Section notwithstanding the
prior exercise of its option under Section 14.03 with respect to such
Securities and any coupons appertaining thereto.

 

Section 14.03.                  Covenant
Defeasance. 

 

Upon the Company’s exercise of the above option applicable to this Section with
respect to any Securities of or within a series, the Company shall be released
from its obligations under Sections 10.04 to 10.08, inclusive, and, if
specified pursuant to Section 3.01, its obligations under any other
covenant, with respect to such Outstanding Securities and any coupons
appertaining thereto on and after the date the conditions set forth in Section 14.04
are satisfied (hereinafter, “covenant defeasance”), and such Securities and any
coupons appertaining thereto shall thereafter be deemed to be 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 Sections 10.04
to 10.08, inclusive, or such other covenant, but shall continue to be deemed “Outstanding”
for all other purposes hereunder. For this purpose, such covenant defeasance
means that, with respect to such Outstanding Securities and any coupons
appertaining thereto, the Company may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any Section or
such other covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such Section or such other covenant or by reason
of reference in any such Section or such other 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 5.01(4) or
5.01(8) or otherwise, as the case may be, but, except as specified above,
the remainder of this Indenture and such Securities and any coupons
appertaining thereto shall be unaffected thereby.

 

Section 14.04.                  Conditions
to Defeasance or Covenant Defeasance. 

 

The following shall be the conditions to application of Section 14.02
or Section 14.03 to any Outstanding Securities of or within a series and
any coupons appertaining thereto:

 

(a)  The Company shall irrevocably have deposited or caused to be
deposited with the Indenture Trustee (or another trustee satisfying the
requirements of Section 6.07 who shall agree to comply with the provisions
of this Article XIV applicable to it) as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefit of the Holders of such Securities and any
coupons appertaining thereto, (1) an amount in such currency, currencies
or currency unit in which such Securities and any coupons appertaining thereto
are then specified as payable at Stated Maturity, or (2) Government
Obligations applicable to such securities and coupons appertaining thereto
(determined on the basis of the currency, currencies or currency unit in which
such Securities and coupons appertaining thereto are then specified as payable
at Stated Maturity) which through the

 

75

 

scheduled
payment of principal and interest in respect thereof in accordance with their
terms will provide, not later than the due date of any payment of principal of
(and premium, if any) and interest, if any, on such Securities and any coupons
appertaining thereto, money in an amount, or (3) a combination thereof, in
any case, in an amount, sufficient, without consideration of any reinvestment
of such principal and interest, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof
delivered to the Indenture Trustee, to pay and discharge, and which shall be
applied by the Indenture Trustee (or other qualifying trustee) to pay and
discharge, (i) the principal of (and premium, if any) and interest, if
any, on such Outstanding Securities and any coupons appertaining thereto on the
Stated Maturity of such principal or installment of principal or interest and (ii) any
mandatory sinking fund payments or analogous payments applicable to such
Outstanding Securities and any coupons appertaining thereto on the day on which
such payments are due and payable in accordance with the terms of this
Indenture and of such Securities and any coupons appertaining thereto.

 

(b)  Such defeasance or covenant defeasance shall not result in a
breach or violation of, or constitute a default under, this Indenture or any
other material agreement or instrument to which the Company is a party or by
which it is bound.

 

(c)  No Event of Default or event which with notice or lapse of
time or both would become an Event of Default with respect to such Securities
and any coupons appertaining thereto shall have occurred and be continuing on
the date of such deposit or, insofar as Sections 5.01(6) and 5.01(7) are
concerned, at any time during the period ending on the 91st day after the date
of such deposit (it being understood that this condition shall not be deemed
satisfied until the expiration of such period).

 

(d)  In the case of an election under Section 14.02, the
Company shall have delivered to the Indenture Trustee an Opinion of Counsel
stating that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling, or (ii) since the
date of execution of this Indenture, there has been a change in the applicable
Federal income tax law, in either case to the effect that, and based thereon
such opinion shall confirm that, the Holders of such Outstanding Securities and
any coupons appertaining thereto will not recognize income, gain or loss for
Federal income tax purposes as a result of such defeasance and will be subject
to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such defeasance had not occurred.

 

(e)  In the case of an election under Section 14.03, the
Company shall have delivered to the Indenture Trustee an Opinion of Counsel to
the effect that the Holders of such Outstanding Securities and any coupons
appertaining thereto 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.

 

(f)  The Company shall have delivered to the Indenture Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance under Section 14.02 or the covenant
defeasance under Section 14.03 (as the case may be) have been complied
with and an Opinion of Counsel to the effect that either (i) as a result
of a deposit pursuant to subsection (a) above and the related exercise
of the Company’s opinion under Section 14.02 or Section 14.03 (as the
case may be), registration is not required under the Investment Company Act of
1940, as amended, by the Company, with respect to the trust funds representing

 

76

 

such
deposit or by the Indenture Trustee for such trust funds or (ii) all
necessary registrations under said Act have been effected.

 

(g)  Notwithstanding any other provisions of this Section, such
defeasance or covenant defeasance shall be effected in compliance with any
additional or substitute terms, conditions or limitations with may be imposed
on the Company in connection therewith pursuant to Section 3.01.

 

Section 14.05.                  Deposited Money and Government Obligations to
Be Held in Trust; Other Miscellaneous Provisions. 

 

Subject to the provisions of the last paragraph of Section 10.03,
all money and Government Obligations (or other property as may be provided
pursuant to Section 3.01) (including the proceeds thereof) deposited with
the Indenture Trustee (or other qualifying trustee, collectively for purposes
of this Section 14.05, the “Indenture Trustee”) pursuant to Section 14.04
in respect of any Outstanding Securities of any series and any coupons
appertaining thereto shall be held in trust and applied by the Indenture
Trustee, in accordance with the provisions of such Securities and any coupons
appertaining thereto and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent)
as the Indenture Trustee may determine, to the Holders of such Securities and
any coupons appertaining thereto of all sums due and to become due thereon in
respect of principal (and premium, if any) and interest and Additional Amounts,
if any, but such money need not be segregated from other funds except to the
extent required by law.

 

(a)  Unless otherwise specified with respect to any Security
pursuant to Section 3.01, if, after a deposit referred to in Section 14.04(a) has
been made, the Holder of a Security in respect of which such deposit was made
is entitled to, and does, elect pursuant to Section 3.01 or the terms of
such Security to receive payment in a currency or currency unit other than that
in which the deposit pursuant to Section 14.04(a) has been made in
respect of such Security, or a Conversion Event occurs in respect of the
currency or currency unit in which the deposit pursuant to Section 14.04(a) has
been made, the indebtedness represented by such Security and any coupons
appertaining thereto shall be deemed to have been, and will be, fully
discharged and satisfied through the payment of the principal of (and premium,
if any), and interest, if any, on such Security as the same becomes due out of
the process yielded by converting (from time to time as specified below in the
case of any such election) the amount or other property deposited in respect of
such Security into the currency or currency unit in which such Security become
payable as a result of such election or Conversion Event based on the
applicable market exchange rate for such currency or currency unit in effect on
the second Business Day prior to each payment date, except, with respect to a
Conversion Event, for such currency or currency unit in effect (as nearly as
feasible) at the time of the Conversion Event.

 

The Company shall pay and indemnify the Indenture Trustee against any
tax, fee or other charge imposed on or assessed against the Government
Obligations deposited pursuant to Section 14.04 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 such Outstanding
Securities and any coupons appertaining thereto.

 

Anything in this Article to the contrary notwithstanding, subject
to Section 6.06, the Indenture Trustee shall deliver or pay to the Company
from time to time upon Company Request any money or Government Obligations (or
other property and any proceeds therefrom) held by it

 

77

 

as
provided in Section 14.04 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification
thereof delivered to the Indenture Trustee, are in excess of the amount thereof
which would then be required to be deposited to effect a defeasance or covenant
defeasance, as applicable, in accordance with this Article.

 

ARTICLE XV

 

MEETINGS OF HOLDERS OF SECURITIES 

 

Section 15.01.                  Purposes
for Which Meetings May Be Called. 

 

A meeting of Holders of Securities of any series may be called at any
time and from time to time pursuant to this Article to make, give or take
any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be made, given or taken by Holders of
Securities of such series.

 

Section 15.02.                  Call,
Notice and Place of Meetings.

 

(a)  The Indenture Trustee may at any time call a meeting of
Holders of Securities of any series for any purpose specified in Section 15.01,
to be held at such time and at such place as the Indenture Trustee shall
determine. Notice of every meeting of Holders of Securities of any series,
setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting, shall be given, in the manner
provided in Section 1.06, not less than 20 nor more than 180 days prior to
the date fixed for the meeting.

 

(b)  In case at any time the Company, pursuant to a Board
Resolution or the Holders of at least 25% in principal amount of the
Outstanding Securities of any series shall have requested the Indenture Trustee
to call a meeting of the Holders of Securities of such series for any purpose
specified in Section 15.01, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Indenture
Trustee shall not have made the first publication of the notice of such meeting
within 20 days after receipt of such request or shall not thereafter proceed to
cause the meeting to be held as provided herein, then the Company or the
Holders of Securities of such series in the amount above specified, as the case
may be, may determine the time and the place for such meeting and may call such
meeting for such purposes by giving notice thereof as provided in subsection (a) of
this Section.

 

Section 15.03.                  Persons
Entitled to Vote at Meetings. 

 

To be entitled to vote at any meeting of Holders of Securities of any
series, a Person shall be (1) a Holder of one or more Outstanding
Securities of such series, or (2) a Person appointed by an instrument in
writing as proxy for a Holder or Holders of one or more Outstanding Securities
of such series by such Holder or Holders. The only Persons who shall be
entitled to be present or to speak at any meeting of Holders of Securities of
any series shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Indenture Trustee and its counsel and any
representatives of the Company and its counsel.

 

78

 

Section 15.04.                  Quorum;
Action. 

 

The Persons entitled to vote a majority in principal amount of the
Outstanding Securities of a series shall constitute a quorum for a meeting of
Holders of Securities of such series; provided, however, that if any action is
to be taken at such meeting with respect to a consent or waiver which this
Indenture expressly provides may be given by the Holders of not less than a
specified percentage in principal amount of the Outstanding Securities of a
series, the Persons entitled to vote such specified percentage in principal
amount of the Outstanding Securities of such series shall constitute a quorum.
In the absence of a quorum within 30 minutes after the time appointed for any
such meeting, the meeting shall, if convened at the request of Holders of
Securities of such series, be dissolved. In any other case the meeting may be
adjourned for a period of not less than 10 days as determined by the chairman
of the meeting prior to the adjournment of such meeting. In the absence of a
quorum at the reconvening of any such adjourned meeting, such adjourned meeting
may be further adjourned for a period of not less than 10 days; at the
reconvening of any meeting adjourned or further adjourned for lack of a quorum,
the persons entitled to vote 25% in aggregate principal amount of the then
Outstanding Securities shall constitute a quorum for the taking of any action
set forth in the notice of the original meeting. Notice of the reconvening of
any adjourned meeting shall be given as provided in Section 15.02(a),
except that such notice need be given only once not less than five days prior
to the date on which the meeting is scheduled to be reconvened.

 

Except as limited by the proviso to Section 9.02, any resolution
presented to a meeting or adjourned meeting duly reconvened at which a quorum
is present as aforesaid may be adopted by the affirmative vote of the Persons
entitled to vote a majority in aggregate principal amount of the Outstanding
Securities represented at such meeting; provided, however, that, except as
limited by the proviso to Section 9.02, any resolution with respect to any
request, demand, authorization, direction, notice, consent, waiver or other
action which this Indenture expressly provides may be made, given or taken by
the Holders of a specified percentage, which is less than a majority, in
principal amount of the Outstanding Securities of a series may be adopted at a
meeting or an adjourned meeting duly reconvened and at which a quorum is present
as aforesaid by the affirmative vote of the Holders of such specified
percentage in principal amount of the Outstanding Securities of that series.

 

Any resolution passed or decision taken at any meeting of Holders of
Securities of any series duly held in accordance with this Section shall
be binding on all the Holders of Securities of such series and the related
coupons, whether or not present or represented at the meeting.

 

Notwithstanding the foregoing provisions of this Section 15.04, if
any action is to be taken at a meeting of Holders of Securities of any series
with respect to any request, demand, authorization, direction, notice, consent,
waiver or other action that this Indenture expressly provides may be made,
given or taken by the Holders of a specified percentage in principal amount of
all Outstanding Securities affected thereby, or of the Holders of such series
and one or more additional series:

 

(i) there
shall be no minimum quorum requirement for such meeting; and

 

(ii) the
principal amount of the Outstanding Securities of such series that vote in
favor of such request, demand, authorization, direction, notice, consent,
waiver or other action shall be taken into account in determining whether such
request, demand, authorization, direction, notice, consent, waiver or other
action has been made, given or taken under this Indenture.

 

79

 

Section 15.05.                  Determination
of Voting Rights; Conduct and Adjournment of Meetings. 

 

(a)  Notwithstanding any provisions of this Indenture, the
Indenture Trustee may make such reasonable regulations as it may deem advisable
for any meeting of Holders of Securities of a series in regard to proof of the
holding of Securities of such series and of the appointment of proxies and in
regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote,
and such other matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding
of Securities shall be proved in the manner specified in Section 1.04 and
the appointment of any proxy shall be proved in the manner specified in Section 1.04
or by having the signature of the Person executing the proxy witnessed or
guaranteed by any trust company, bank or banker authorized by Section 1.04
to certify to the holding of Bearer Securities. Such regulations may provide
that written instruments appointing proxies, regular on their face, may be
presumed valid and genuine without the proof specified in Section 1.04 or
other proof.

 

(b) The Indenture Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been
called by the Company or by Holders of Securities as provided in Section 15.02(b),
in which case the Company or the Holders of Securities of the series calling
the meeting, as the case may be, shall in like manner appoint a temporary
chairman. A permanent chairman and a permanent secretary of the meeting shall
be elected by vote of the Persons entitled to vote a majority in principal
amount of the Outstanding Securities of such series represented at the meeting.

 

(c)  At any meeting each Holder of a Security of such series or
proxy shall be entitled to one vote for each $1,000 principal amount (or other
such denomination issuable as determined by a Board Resolution pursuant to Section 3.01(8))
of the Outstanding Securities of such series held or represented by him;
provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security challenged as not Outstanding and ruled by the chairman
of the meeting to be not Outstanding. The chairman of the meeting shall have no
right to vote, except as a Holder of a Security of such series or proxy.

 

(d)  Any meeting of Holders of Securities of any series duly
called pursuant to Section 15.02 at which a quorum is present may be
adjourned from time to time by Persons entitled to vote a majority in principal
amount of the Outstanding Securities of such series represented at the meeting,
and the meeting may be held as so adjourned without further notice.

 

Section 15.06.                  Counting
Votes and Recording Action of Meetings. 

 

The vote upon any resolution submitted to any meeting of Holders of
Securities of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Securities of such series or of
their representatives by proxy and the principal amounts and serial numbers of
the Outstanding Securities of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in
duplicate, of the proceedings of each meeting of Holders of Securities of any Series shall
be prepared by the secretary of the meeting and there shall be attached to said
record the original reports of the inspectors of votes on any vote by ballot
taken thereat and affidavits by one or

 

80

 

more
persons having knowledge of the fact, setting forth a copy of the notice of the
meeting and showing that said notice was given as provided in Section 15.02
and, if applicable, Section 15.04. Each copy shall be signed and verified
by the affidavits of the permanent chairman and secretary of the meeting and
one such copy shall be delivered to the Company and another to the Indenture
Trustee to be preserved by the Indenture Trustee, the latter to have attached
thereto the ballots voted at the meeting. Any record so signed and verified
shall be conclusive evidence of the matters therein stated.

 

81

 

SIGNATURES

 

 

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

 

 

	
   

  	
  FIRST
  UNION REAL ESTATE EQUITY AND

  MORTGAGE INVESTMENTS

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [NAME
  OF INDENTURE TRUSTEE]

  	
   

  
	
   

  	
  as
  Indenture Trustee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
						

 

82

 

EXHIBIT A

 

FORM OF
REDEEMABLE OR NON-REDEEMABLE SECURITY

[Face
of Security]

 

 

[If
the Holder of this Security (as indicated below) is The Depository Trust
Company (“DTC”) or a nominee of DTC, this Security is a Global Security and the
following two legends apply:

 

Unless
this Security is presented by an authorized representative of The Depository
Trust Company (“DTC”), 55 Water Street, New York, New York to the Issuer or its
agent for registration of transfer, exchange or payment, and such Security
issued is registered in the name of CEDE & CO., or such other name as
requested by an authorized representative of DTC, ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, since the
registered owner hereof, CEDE & CO., has an interest herein.

 

This
Security is a Global Security within the meaning set forth in the Indenture
hereinafter referred to and is registered in the name of DTC or a nominee of
DTC. This Security is exchangeable for Securities registered in the name of a
person other than DTC or its nominee only in the limited circumstances
described in this Indenture, and may not be transferred except as a whole by
DTC to a nominee of DTC or by a nominee of DTC to DTC or another nominee of DTC
or by DTC or its nominee to a successor depository or its nominee.

 

[If
this Security is an Original Issue Discount Security, insert — FOR PURPOSES OF SECTION 1273
AND 1275 OF THE UNITED STATES INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL
ISSUE DISCOUNT ON THIS SECURITY IS        %
OF ITS PRINCIPAL AMOUNT, THE ISSUE DATE IS                      ,
20       [AND] THE YIELD TO MATURITY IS       %.
[THE METHOD USED TO DETERMINE THE AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE
TO THE SHORT ACCRUAL PERIOD OF                        ,
20        TO                        ,
20      , IS        %
OF THE PRINCIPAL AMOUNT OF THIS SECURITY.]

 

FIRST
UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS

 

[Designation
of Series]

 

 

No.           
$         

 

FIRST
UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS, an unincorporated
association in the form of a business trust organized under the laws of the
State of Ohio (therein referred to as the “Company,” which term includes any
successor corporation under the Indenture referred to on the reverse hereof),
for value received, hereby promises to pay to                            
or registered assigns the principal sum of               
Dollars on

 

A-1

 

                            (the “Stated Maturity Date”) [or insert date
fixed for earlier redemption (the “Redemption Date,” and together with the
Stated Maturity Date with respect to principal repayable on such date, the “Maturity
Date.”)]

 

[If
the Security is to bear interest prior to Maturity, insert — and to pay
interest thereon from                       
or from the most recent Interest Payment Date to which interest has been paid
or duly provided for, semi-annually on                       
and                       
in each year (each, an “Interest Payment Date”), commencing                       ,
at the rate of         % per annum,
until the principal hereof is paid or duly provided for. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Holder in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest, which shall be the                       
or                       
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date at the office or agency of the Company maintained for
such purpose; provided, however, that such interest may be paid, at the Company’s
option, by mailing a check to such Holder at its registered address or by
transfer of funds to an account maintained by such Holder within the United
States. Any such interest not so punctually paid or duly provided for shall forthwith
cease to be payable to the Holder on such Regular Record Date, and may be paid
to the Holder in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Indenture Trustee,
notice whereof shall be given to Holders of Securities of this series not less
than 10 days prior to such Special Record Date, or may be paid at any time in
any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully
provided in the Indenture. Interest will be computed on the basis of a 360-day
year of twelve 30-day months.]

 

[If
the Security is not to bear interest prior to Maturity, insert — The principal
of this Security shall not bear interest except in the case of a default in
payment of principal upon acceleration, upon redemption or at the [Stated]
Maturity Date and in such case the overdue principal of this Security shall
bear interest at the rate of        % per
annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to
the date payment of such principal has been made or duly provided for. Interest
on any overdue principal shall be payable on demand. Any such interest on any
overdue principal that is not so paid on demand shall bear interest at the rate
of        % per annum (to the extent that
the payment of such interest shall be legally enforceable), which shall accrue
from the date of such demand for payment to the date payment of such interest
has been made or duly provided for, and such interest shall also be payable on
demand.]

 

The
principal of this Security payable on the Stated Maturity Date [or the
principal of, premium, if any, and, if the Redemption Date is not an Interest
Payment Date, interest on this Security payable on the Redemption Date] will be
paid against presentation of this Security at the office or agency of the
Company maintained for that purpose in                         ,
in such coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

Interest
payable on this Security on any Interest Payment Date and on the [Stated]
Maturity Date [or Redemption Date, as the case may be,] will include interest
accrued from and including the next preceding Interest Payment Date in respect
of which interest has been paid or duly provided for (or from and including                          ,
if no interest has been paid on this Security) to but

 

A-2

 

excluding
such Interest Payment Date or the [Stated] Maturity Date [or Redemption Date,
as the case may be.] If any Interest Payment Date or the [Stated] Maturity Date
or [Redemption Date] falls on a day that is not a Business Day, as defined
below, principal, premium, if any, and/or interest payable with respect to such
Interest Payment Date or [Stated] Maturity Date [or Redemption Date, as the
case may be,] will be paid on the next succeeding Business Day with the same
force and effect as if it were paid on the date such payment was due, and no
interest shall accrue on the amount so payable for the period from and after
such Interest Payment Date or [Stated] Maturity Date [or Redemption Date, as
the case may be.] “Business Day” means any day, other than a Saturday or Sunday,
on which banks in                          
are not required or authorized by law or executive order to close.

 

[If
this Security is a Global Security, insert — All payments of principal,
premium, if any, and interest in respect of this Security will be made by the
Company in immediately available funds.]

 

Reference
is hereby made to the further provisions of this Security set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.

 

Unless
the Certificate of Authentication hereon has been executed by the Indenture
Trustee by manual signature of one of its authorized signatories, this Security
shall not be entitled to any benefit under the Indenture, or be valid or
obligatory for any purpose.

 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its facsimile corporate seal.

 

 

	
  Dated:

  	
   

  	
   

  	
  FIRST
  UNION REAL ESTATE EQUITY AND

  
	
   

  	
  MORTGAGE
  INVESTMENTS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Secretary

  	
   

  

 

A-3

 

[Reverse
of Security]

 

FIRST
UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS

 

 

This
Security is one of a duly authorized issue of securities of the Company (herein
called the “Securities”), issued and to be issued in one or more series under
an Indenture, dated as of                         ,
200   (herein called the “Indenture”) between the Company and                         ,
as Indenture Trustee (herein called the “Indenture Trustee,” which term
includes any successor trustee under the Indenture with respect to the series
of which this Security is a part), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Indenture Trustee and the Holders of the Securities, and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This
Security is one of the duly authorized series of Securities designated on the
face hereof (collectively, the “Securities”), [if applicable, insert — and the
aggregate principal amount of the Securities to be issued under such series is
limited to $              
(except for Securities authenticated and delivered upon transfer of, or in
exchange for, or in lieu of other Securities).] All terms used in this Security
which are defined in the Indenture shall have the meanings assigned to them in
the Indenture.

 

If
an Event of Default, as defined in the Indenture, shall occur and be
continuing, the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.

 

[If
applicable, insert — The Securities are subject to redemption [(i) (If
applicable, insert — on                      in any year commencing with the year             
and ending with the year                  
through operation of the sinking fund for this series at a Redemption Price
equal to 100% of the principal amount, and (2)] [If applicable, insert — at any
time [on or after                     ],
as a whole or in part, at the election of the Company, at the following
Redemption Prices (expressed as a percentage of the principal amount):

 

If
redeemed on or before                         ,
       % and if redeemed during the 12-month
period beginning                     
of the years indicated at the Redemption Prices indicated below.

 

	
  Year

  	
   

  	
  Redemption Price

  	
   

  	
  Year

  	
   

  	
  Redemption Price

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

and
thereafter at a Redemption Price equal to        %
of the principal amount, together in the case of any such redemption [If
applicable, insert — (whether through operation of the sinking fund or
otherwise)] with accrued interest to the Redemption Date; provided, however,
that installments of interest on this Security whose Stated Maturity is on or
prior to such Redemption Date will be payable to the Holder of this Security,
or one or more Predecessor Securities, of record at the close of business on
the relevant Record Dates referred to on the face hereof, all as provided in
the Indenture.]

 

A-4

 

[If
applicable, insert — The Securities are subject to redemption (1) on               
in any year commencing with the year                
and ending with the year                
through operation of the sinking fund for this series at the Redemption Prices
for redemption through operation of the sinking fund (expressed as percentages
of the principal amount) set forth in the table below, and (2) at any time
[on or after                ],
as a whole or in part, at the election of the Company, at the Redemption Prices
for redemption otherwise than through operation of the sinking fund (expressed
as percentages of the principal amount) set forth in the table below: If
redeemed during the 12-month period beginning                   
of the years indicated,

 

	
  Year

  	
   

  	
  Redemption Price for Redemption

  Through Operation

  of the Sinking Fund

  	
   

  	
  Redemption Price for Redemption

  Otherwise Than Through

  Operation of the Sinking Fund

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

and
thereafter at a Redemption Price equal to         %
of the principal amount, together in the case of any such redemption (whether
through operation of the sinking fund or otherwise) with accrued interest to
the Redemption Date; provided, however, that installments of interest on this
Security whose Stated Maturity is on or prior to such Redemption Date will be
payable to the Holder of this Security, or one or more Predecessor Securities,
of record at the close of business on the relevant Record Dates referred to on
the face hereof, all as provided in the Indenture.]

 

[If
applicable, insert — The sinking fund for the Securities provides for the
redemption on                 
in each year, beginning with the year          
and ending with the year          ,
of [not less than] $         ] [(“mandatory
sinking fund”) and not more than $         ]
aggregate principal amount of the Securities. [The Securities acquired or
redeemed by the Company otherwise than through [mandatory] sinking fund payments
may be credited against subsequent [mandatory] sinking fund payments otherwise
required to be made in the [describe order] order in which they become due.]]

 

Notice
of redemption will be given by mail to Holders of Securities, not less than 15
nor more than 60 days prior to the Redemption Date, all as provided in the
Indenture.

 

In
the event of redemption of this Security in part only, a new Security or
Securities for the unredeemed portion hereof shall be issued in the name of the
Holder hereof upon the cancellation hereof.

 

[If
applicable, insert conversion provisions set forth in any Board Resolution or
indenture supplemental to the Indenture.]

 

The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Holders of the Securities under the Indenture at any time by
the Company and the Indenture Trustee with the consent of the Holders of not
less than a majority of the aggregate principal amount of all Securities issued
under the Indenture at the time Outstanding and affected thereby. The Indenture
also contains provisions permitting the Holders of not less than a majority of
the aggregate principal amount of the Outstanding Securities, on behalf of the
Holders of all such Securities, to waive compliance by the Company with certain
provisions of the Indenture. Furthermore, provisions in the Indenture permit
the Holders of not less than a majority of the aggregate principal amount, in
certain instances, of the Outstanding Securities of any series to waive, on

 

A-5

 

behalf
of all of the Holders of Securities of such series, certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and other Securities issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

No
reference herein to the Indenture and no provision of this Security or of the
Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Security at the times, places and rate, and in the coin or
currency, herein prescribed.

 

As
provided in the Indenture and subject to certain limitations therein [and
herein] set forth, the transfer of this Security is registrable in the Security
Register of the Company upon surrender of this Security for registration of
transfer at the office or agency of the Company in any place where the
principal of (and premium, if any) and interest on this Security are payable,
duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or by his attorney duly authorized in writing, and thereupon one
or more new Securities, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

 

As
provided in the Indenture and subject to certain limitations therein [and
herein] set forth, this Security is exchangeable for a like aggregate principal
amount of Securities of different authorized denominations but otherwise having
the same terms and conditions, as requested by the Holder hereof surrendering
the same.

 

The
Securities of this series are issuable only in registered form [without
coupons] in denominations of $              
and any integral multiple thereof.

 

No
service charge shall be made for any such registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

 

Prior
to due presentment of this Security for registration of transfer, the Company,
the Indenture Trustee and any agent of the Company or the Indenture Trustee may
treat the Person in whose name this Security is registered as the owner hereof
for all purposes, whether or not this Security be overdue, and neither the
Company, the Indenture Trustee nor any such agent shall be affected by notice
to the contrary.

 

No
recourse shall be had for the payment of the principal of or premium, if any,
or the interest on this Security, or for any claim based hereon, or otherwise
in respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any past, present or future shareholder,
beneficial owner, employee, officer or director, as such, of the Company or of
any successor, either directly or through the Company or any successor, whether
by virtue of any constitution, statute or rule of law or by the
enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as party of the consideration for the issue
hereof, expressly waived and released.

 

A-6

 

The
Indenture and the Securities and coupons shall be governed by and construed in
accordance with the internal laws of the State of New York without regard to
the principles of the conflicts of laws thereof.

 

A-7

 

EXHIBIT B

 

FORMS
OF CERTIFICATION

 

 

EXHIBIT B-1

 

FORM OF
CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO RECEIVE BEARER SECURITY OR TO
OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE

 

DATE

 

 

CERTIFICATE

 

 

[Insert title or sufficient description of Securities to be delivered]

 

This is to certify that, as of the date hereof, and except as set forth
below, the above-captioned Securities held by you for your account (i) are
owned by person(s) that are not citizens or residents of the United States,
domestic partnerships, domestic corporations or any estate or trust the income
of which is subject to United States Federal income taxation regardless of its
source (“United States person(s)”), (ii) are owned by United States
person(s) that are (a) foreign branches of United States financial
institutions (financial institutions, as defined in the United States Treasury
Regulations Section 2.165-12(c)(1)(v) are herein referred to as
“financial institutions”) purchasing for their own account or for resale, or (b) United
States person(s) who acquired the Securities through foreign branches of United
States financial institutions and who hold the Securities through such United
States financial institutions on the date hereof (and in either case (a) or
(b), each such United States financial institution hereby agrees, on its own
behalf or through its agent, that you may advise First Union Real Estate Equity
and Mortgage Investments or its agent that such financial institution will
comply with the requirements of Section 165(j)(3)(A), (B) or (C) of
the United States Internal Revenue Code of 1986, as amended, and the
regulations thereunder), or (iii) are owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period
(as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)),
and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii) above (whether or not also described
in clause (i) or (ii), this is to further certify that such financial
institution has not acquired the Securities for purposes of resale directly or
indirectly to a United States person or to a person within the United States or
its possessions.

 

As used herein, “United States” means the United States of America
(including the States and the District of Columbia); and its “possessions”
include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island
and the Northern Mariana Islands.

 

We undertake to advise you promptly by tested telex or electronic
transmission on or prior to the date on which you intend to submit your
certification relating to the above-captioned

 

B-1

 

Securities
held by you for our account in accordance with your Operating Procedures if any
applicable statement herein is not correct on such date, and in the absence of
any such notification it may be assumed that this certification applied as of
such date.

 

This certificate excepts and does not relate to [U.S.$] of such
interest in the above-captioned Securities in respect of which we are not able
to certify and as to which we understand an exchange for an interest in a
permanent Global Security or an exchange for and delivery of definitive
Securities (or, if relevant, collection of any interest) cannot be made until
we do so certify.

 

We understand that this certificate may be required in connection with
certain tax legislation in the United States. If administrative or legal
proceedings are commenced or threatened in connection with which this
certificate is or would be relevant, we irrevocably authorize you to produce
this certificate or a copy thereof to any interested party in such proceedings.

 

Dated:                         ,
         

 

[To
be dated no earlier than the 15th day prior to (i) the Exchange Date or (ii) the
relevant Interest Payment Date occurring prior to the Exchange Date, as
applicable]

 

 

	
   

  	
  [Name
  of Person Making Certification]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (Authorized
  Signature)

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

B-2

 

EXHIBIT B-2

 

FORM OF
CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CEDEL S.A. IN CONNECTION WITH THE
EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL SECURITY OR TO OBTAIN INTEREST
PAYABLE PRIOR TO THE EXCHANGE DATE CERTIFICATE

 

[Insert title or sufficient description of Securities to be delivered]

 

This is to certify that, based solely on written certifications that we
have received in writing, by tested telex or by electronic transmission from
each of the persons appearing in our records as persons entitled to a portion
of the principal amount set forth below (our “Member Organizations”)
substantially in the form attached hereto, as of the date hereof, [U.S.$]
principal amount of the above-captioned Securities (i) is owned by
person(s) that are not citizens or residents of the United States, domestic
partnerships, domestic corporations or any estate or trust the income of which
is subject to United States Federal income taxation regardless of its source (“United
States person(s)”), (ii) is owned by United States person(s) that are (a) foreign
branches of United States financial institutions (financial institutions, as
defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(v) are
herein referred to as “financial institutions”) purchasing for their own
account or for resale, or (b) United States person(s) who acquired the
Securities through foreign branches of United States financial institutions and
who hold the Securities through such United States financial institutions on
the date hereof (and in either case (a) or (b), each such financial
institution has agreed, on its own behalf or through its agent, that we may
advise First Union Real Estate Equity and Mortgage Investments or its agent
that such financial institution will comply with the requirements of Section 165(j)(3)(A),
(B) or (C) of the Internal Revenue Code of 1986, as amended, and the
regulations thereunder), or (iii) is owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period
(as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)),
and, to the further effect, that financial institutions described in clause (iii) above
(whether or not also described in clause (i) or (ii)) have certified that
they have not acquired the Securities for purposes of resale directly or
indirectly to a United States person or to a person within the United States or
its possessions.

 

As used herein, “United States” means the United States of America (including
the States and the District of Columbia); and its “Possessions” include Puerto
Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the
Northern Mariana Islands.

 

We further certify that (i) we are not making available herewith
for exchange (or, if relevant, collection of any interest) any portion of the
temporary Global Security representing the above-captioned Securities excepted
in the above-referenced certificates of Member Organizations and (ii) as
of the date hereof we have not received any notification from any of our Member
Organizations to the effect that the statements made by such Member
Organizations with respect to any portion of the part submitted herewith for
exchange (or, if relevant, collection of any interest) are no longer true and
cannot be relied upon as of the date hereof.

 

We understand that this certification is required in connection with
certain tax legislation in the United States. If administrative or legal
proceedings are commenced or threatened in connection with which this
certificate is or would be relevant, we irrevocably authorize you to produce
this certificate or a copy thereof to any interested party in such proceedings.

 

B-3

 

Dated:                      ,
           

 

[To
be dated no earlier than the 15th day prior to (i) the Exchange Date or (ii) the
relevant Interest Payment Date occurring prior to the Exchange Date, as
applicable]

 

	
   

  	
  [Morgan
  Guaranty Trust Company of New York,

  
	
   

  	
  Brussels
  Office,] as Operator of the Euroclear

  
	
   

  	
  System
  [CEDEL S.A.]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  

 

B-4

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