Document:

exv10w4

EXHIBIT 10.4

 

FORM
OF

ADMINISTRATION AGREEMENT

among

BANC OF AMERICA AUTO SECURITIES TRUST 20[ ]-[ ],

as Issuer

BANK OF AMERICA, NATIONAL ASSOCIATION,

as Administrator

and

[      ],

as Indenture Trustee

Dated
as of [           ]

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	1. Duties of the Administrator
	 	 	1	 
	 
	 	 	 	 
	2. Records
	 	 	3	 
	 
	 	 	 	 
	3. Compensation; Payment of Fees and Expenses
	 	 	3	 
	 
	 	 	 	 
	4. Independence of the Administrator
	 	 	3	 
	 
	 	 	 	 
	5. No Joint Venture
	 	 	3	 
	 
	 	 	 	 
	6. Other Activities of the Administrator
	 	 	3	 
	 
	 	 	 	 
	7. Representations and Warranties of the Administrator
	 	 	3	 
	 
	 	 	 	 
	8. Administrator Replacement Events; Termination of the Administrator
	 	 	4	 
	 
	 	 	 	 
	9. Action upon Termination or Removal
	 	 	6	 
	 
	 	 	 	 
	10. Liens
	 	 	6	 
	 
	 	 	 	 
	11. Notices
	 	 	6	 
	 
	 	 	 	 
	12. Amendments
	 	 	6	 
	 
	 	 	 	 
	13. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	 	 	8	 
	 
	 	 	 	 
	14. Headings
	 	 	9	 
	 
	 	 	 	 
	15. Counterparts
	 	 	9	 
	 
	 	 	 	 
	16. Severability of Provisions
	 	 	9	 
	 
	 	 	 	 
	17. Not Applicable to BANA in Other Capacities
	 	 	9	 
	 
	 	 	 	 
	18. Benefits of the Administration Agreement
	 	 	9	 
	 
	 	 	 	 
	19. Assignment
	 	 	9	 
	 
	 	 	 	 
	20. Nonpetition Covenant
	 	 	9	 
	 
	 	 	 	 
	21. Limitation of Liability
	 	 	10	 
	 
	 	 	 	 
	22. [Limitation of Rights]
	 	 	10	 

i

 

     THIS ADMINISTRATION AGREEMENT (this “Agreement”) dated as of [ ], is among
BANK OF AMERICA AUTO SECURITIES TRUST 20[      ]-[ ], a Delaware statutory trust (the
“Issuer”), BANK OF AMERICA, NATIONAL ASSOCIATION, a national banking association, as
administrator (“BANA” or in its capacity as administrator, the “Administrator”),
and [            ], a [            ], as indenture trustee (the “Indenture Trustee”). Capitalized terms
used herein and not otherwise defined herein shall have the meanings assigned such terms in
Appendix A to the Sale and Servicing Agreement dated as of [            ] (the “Sale
and Servicing Agreement”) by and among BAS Securitization LLC, as seller, the Issuer, BANA, as
servicer, and the Indenture Trustee.

W I T N E S S E T H :

     WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate
pursuant to the Trust Agreement and has entered into certain agreements in connection therewith,
including, (i) the Sale and Servicing Agreement, (ii) the Indenture, (iii) the Note Depository
Agreement, [(iv) the Interest Rate Swap Agreement] and (v) the Trust Agreement (each of the
agreements referred to in clauses (i) through (v) are referred to herein
collectively as the “Issuer Documents”);

     WHEREAS, to secure payment of the Notes, the Issuer has pledged the Collateral to the
Indenture Trustee pursuant to the Indenture;

     WHEREAS, pursuant to the Issuer Documents, the Issuer and the Owner Trustee are required to
perform certain duties;

     WHEREAS, the Issuer and the Owner Trustee desire to have the Administrator perform certain of
the duties of the Issuer and the Owner Trustee (in its capacity as owner trustee under the Trust
Agreement), and to provide such additional services consistent with this Agreement and the Issuer
Documents as the Issuer may from time to time request;

     WHEREAS, the Administrator has the capacity to provide the services required hereby and is
willing to perform such services for the Issuer and the Owner Trustee on the terms set forth
herein;

     NOW, THEREFORE, in consideration of the mutual terms and covenants contained herein, and other
good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
parties agree as follows:

     1. Duties of the Administrator.

     (a) Duties with Respect to the Issuer Documents. The Administrator shall
perform all of its duties as Administrator under this Agreement and the Issuer Documents and
the duties and obligations of the Issuer and the Owner Trustee (in its capacity as owner
trustee under the Trust Agreement) under the Issuer Documents; provided, however, except as
otherwise provided in the Issuer Documents, that the Administrator shall have no obligation
to make any payment required to be made by the Issuer under any Issuer Document; provided,
further, however, that the Administrator shall have no obligation, and the Owner Trustee
shall be required to fully perform its duties, with

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respect to the obligations of the Owner Trustee under Sections 11.12,
11.13, 11.14 and 11.15 of the Trust Agreement and to otherwise
comply with the requirements of the Owner Trustee pursuant to or related to Regulation AB.
In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding
its duties and obligations under the Issuer Documents. The Administrator shall monitor the
performance of the Issuer and the Owner Trustee and shall advise the Issuer and the Owner
Trustee when action is necessary to comply with the Issuer’s and the Owner Trustee’s duties
and obligations under the Issuer Documents. The Administrator shall perform such
calculations, and shall prepare for execution by the Issuer or the Owner Trustee or shall
cause the preparation by other appropriate Persons of all such documents, reports, filings,
instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner
Trustee (in its capacity as owner trustee under the Trust Agreement) to prepare, file or
deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the
Administrator shall take all appropriate action that is the duty of the Issuer or the Owner
Trustee (in its capacity as owner trustee under the Trust Agreement) to take pursuant to the
Issuer Documents, and shall prepare and execute on behalf of the Issuer or the Owner Trustee
all such documents, reports, filings, instruments, certificates and opinions as it shall be
the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to the
Issuer Documents or otherwise by law.

     (b) No Action by Administrator. Notwithstanding anything to the contrary in
this Agreement, the Administrator shall not be obligated to, and shall not, take any action
that the Issuer directs the Administrator not to take nor which would result in a violation
or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer
Documents.

     (c) Non-Ministerial Matters; Exceptions to Administrator Duties.

     (i) Notwithstanding anything to the contrary in this Agreement, with respect to
matters that in the reasonable judgment of the Administrator are non-ministerial,
the Administrator shall not take any action unless, within a reasonable time before
the taking of such action, the Administrator shall have notified the Issuer of the
proposed action and the Issuer shall not have withheld consent or provided an
alternative direction. For the purpose of the preceding sentence, “non-ministerial
matters” shall include, without limitation:

     (A) the initiation of any claim or lawsuit by the Issuer and the compromise of
any action, claim or lawsuit brought by or against the Issuer;

     (B) the appointment of successor Note Registrars, successor Paying Agents,
successor Indenture Trustees, successor Administrators or successor Servicers, or
the consent to the assignment by the Note Registrar, the Paying Agent or the
Indenture Trustee of its obligations under the Indenture; and

     (C) the removal of the Indenture Trustee.

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     (ii) Notwithstanding anything to the contrary in this Agreement, the
Administrator shall not be obligated to, and shall not, (x) make any payments to the
Noteholders under the Transaction Documents, (y) except as provided in the
Transaction Documents, sell the Trust Estate or (z) take any other action that the
Issuer directs the Administrator not to take on its behalf.

     2. Records. The Administrator shall maintain appropriate books of account and records
relating to services performed hereunder, which books of account and records shall be accessible
for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee
at any time during normal business hours.

     3. Compensation; Payment of Fees and Expenses. As compensation for the performance of
the Administrator’s obligations under this Agreement and as reimbursement for its expenses related
thereto, the Administrator shall be entitled to receive $[ ] annually which shall be solely an
obligation of the Servicer. The Administrator shall pay all expenses incurred by it in connection
with its activities hereunder.

     4. Independence of the Administrator. For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to the supervision of the
Issuer with respect to the manner in which it accomplishes the performance of its obligations
hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority to
act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not
otherwise be deemed an agent of the Issuer.

     5. No Joint Venture. Nothing contained in this Agreement (i) shall constitute the
Administrator and the Issuer as members of any partnership, joint venture, association, syndicate,
unincorporated business or other separate entity, (ii) shall be construed to impose any liability
as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or
apparent authority to incur any obligation or liability on behalf of the other.

     6. Other Activities of the Administrator. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from
acting in a similar capacity as an Administrator for any other Person even though such Person may
engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture
Trustee.

     7. Representations and Warranties of the Administrator. The Administrator represents
and warrants to the Issuer and the Indenture Trustee as follows:

     (a) Existence and Power. The Administrator is a corporation validly existing
and in good standing under the laws of its state of organization and has, in all material
respects, all power and authority to carry on its business as now conducted. The
Administrator has obtained all necessary licenses and approvals in each jurisdiction where
the failure to do so would materially and adversely affect the ability of the Administrator
to perform its obligations under the Transaction Documents or affect the enforceability or
collectibility of the Receivables or any other part of the Collateral.

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     (b) Authorization and No Contravention. The execution, delivery and
performance by the Administrator of the Transaction Documents to which it is a party (i)
have been duly authorized by all necessary action on the part of the Administrator and (ii)
do not contravene or constitute a default under (A) any applicable law, rule or regulation,
(B) its organizational documents or (C) any material agreement, contract, order or other
instrument to which it is a party or its property is subject (other than violations which do
not affect the legality, validity or enforceability of any of such agreements and which,
individually or in the aggregate, would not materially and adversely affect the transactions
contemplated by, or the Administrator’s ability to perform its obligations under, the
Transaction Documents).

     (c) No Consent Required. No approval or authorization by, or filing with, any
Governmental Authority is required in connection with the execution, delivery and
performance by the Administrator of any Transaction Document other than (i) UCC filings,
(ii) approvals and authorizations that have previously been obtained and filings that have
previously been made and (iii) approvals, authorizations or filings which, if not obtained
or made, would not have a material adverse effect on the enforceability or collectibility of
the Receivables or any other part of the Collateral or would not materially and adversely
affect the ability of the Administrator to perform its obligations under the Transaction
Documents.

     (d) Binding Effect. Each Transaction Document to which the Administrator is a
party constitutes the legal, valid and binding obligation of the Administrator enforceable
against the Administrator in accordance with its terms, except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership,
conservatorship or other similar laws affecting the enforcement of creditors’ rights
generally and, if applicable, the rights of creditors of corporations from time to time in
effect or by general principles of equity.

     8. Administrator Replacement Events; Termination of the Administrator.

     (a) Subject to clauses (d) and (e) below, the Administrator may resign its duties
hereunder by providing the Issuer with at least sixty (60) days’ prior written notice.

     (b) Subject to clauses (d) and (e) below, the Issuer may remove the Administrator
without cause by providing the Administrator with at least sixty (60) days’ prior written
notice; provided, that, for so long as any Notes are Outstanding, the Rating Agency
Condition shall have been satisfied in connection therewith.

     (c) The occurrence of any one of the following events (each, an “Administrator
Replacement Event”) shall also entitle the Issuer, subject to Section 19 hereof, to
terminate and replace the Administrator:

     (i) any failure by the Administrator to deliver or cause to be delivered any
required payment to the Indenture Trustee for distribution to the Noteholders, which
failure continues unremedied for ten business days after discovery thereof by a
Responsible Officer of the Administrator or receipt by the Administrator of

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       20[  ]-[ ]

4

 

written notice thereof from the Indenture Trustee or Noteholders evidencing at
least a majority of the Outstanding Note Balance, voting together as a single class;

     (ii) any failure by the Administrator to duly observe or perform in any
material respect any other of its covenants or agreements in this Agreement, which
failure materially and adversely affects the rights of the Issuer or the
Noteholders, and which continues unremedied for 90 days after discovery thereof by a
Responsible Officer of the Administrator or receipt by the Administrator of written
notice thereof from the Indenture Trustee or Noteholders evidencing at least a
majority of the Outstanding Note Balance, voting together as a single class;

     (iii) any representation or warranty of the Administrator made in any
Transaction Document to which the Administrator is a party or by which it is bound
or any certificate delivered pursuant to this Agreement proves to have been
incorrect in any material respect when made, which failure materially and adversely
affects the rights of the Issuer or the Noteholders, and which failure continues
unremedied for 90 days after discovery thereof by a Responsible Officer of the
Administrator or receipt by the Administrator of written notice thereof from the
Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding
Note Balance, voting together as a single class (it being understood that any
repurchase of a Receivable by BANA pursuant to Section 3.3 of the Purchase
Agreement, by the Seller pursuant to Section 2.3 of the Sale and Servicing
Agreement or by the Servicer pursuant to Section 3.6 of the Sale and
Servicing Agreement shall be deemed to remedy any incorrect representation or
warranty with respect to such Receivable); or

     (iv) the Administrator suffers a Bankruptcy Event;

provided, however, that a delay in or failure of performance referred to under clauses
(i), (ii) or (iii) above for a period of 150 days will not constitute an
Administrator Replacement Event if such delay or failure was caused by force majeure or
other similar occurrence.

     (d) If an Administrator Replacement Event shall have occurred, the Issuer may, subject
to Section 19 hereof, by notice given to the Administrator and the Owner Trustee, terminate
all or a portion of the rights and powers of the Administrator under this Agreement,
including the rights of the Administrator to receive the annual fee for services hereunder
for all periods following such termination; provided, however, that such termination shall
not become effective until such time as the Issuer, subject to Section 19 hereof, shall have
appointed a successor Administrator in the manner set forth below. Upon any such
termination, all rights, powers, duties and responsibilities of the Administrator under this
Agreement shall vest in and be assumed by any successor Administrator appointed by the
Issuer, subject to Section 19 hereof, pursuant to a management agreement between the
Issuer and such successor Administrator, containing substantially the same provisions as
this Agreement (including with respect to the compensation of such successor Administrator),
and the successor Administrator is hereby irrevocably authorized and empowered to execute
and deliver, on behalf of the

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Administrator, as attorney-in-fact or otherwise, all documents and other instruments,
and to do or accomplish all other acts or things necessary or appropriate to effect such
vesting and assumption. Further, in such event, the Administrator shall use its
commercially reasonable efforts to effect the orderly and efficient transfer of the
administration of the Issuer to the new Administrator.

     (e) The Issuer, subject to Section 19 hereof, may waive in writing any Administrator
Replacement Event by the Administrator in the performance of its obligations hereunder and
its consequences. Upon any such waiver of a past Administrator Replacement Event, such
Administrator Replacement Event shall cease to exist, and any Administrator Replacement
Event arising therefrom shall be deemed to have been remedied for every purpose of this
Agreement. No such waiver shall extend to any subsequent or other Administrator Replacement
Event or impair any right consequent thereon.

     9. Action upon Termination or Removal. Promptly upon the effective date of
termination of this Agreement pursuant to Section 8, or the removal of the Administrator
pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all
fees and reimbursable expenses accruing to it to the date of such termination or removal.

     10. Liens. The Administrator will not directly or indirectly create, allow or suffer
to exist any Lien on the Collateral other than Permitted Liens.

     11. Notices. All demands, notices and communications hereunder shall be in writing
and shall be delivered or mailed by registered or certified first-class United States mail, postage
prepaid, hand delivery, prepaid courier service, or by facsimile, and addressed in each case as
specified on Schedule II to the Sale and Servicing Agreement or at such other address as
shall be designated by any of the specified addressees in a written notice to the other parties
hereto. Delivery shall occur only upon receipt or reported tender of such communication by an
officer of the recipient entitled to receive such notices located at the address of such recipient
for notices hereunder.

     12. Amendments.

     (a) Any term or provision of this Agreement may be amended by the Administrator without
the consent of the Indenture Trustee, any Noteholder, the Issuer, [the Swap Counterparty],
the Owner Trustee, the Seller, BANA or any other Person subject to Section 12(e) and the
satisfaction of one of the following conditions:

     (i) the Administrator delivers an Opinion of Counsel to the Indenture Trustee
to the effect that such amendment will not materially and adversely affect the
interests of the Noteholders;

     (ii) the Administrator delivers an Officer’s Certificate of the Administrator
to the Indenture Trustee to the effect that such amendment will not materially or
adversely affect the interests of the Noteholders; or

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     (iii) the Administrator delivers to the Indenture Trustee written confirmation
from each Rating Agency that such amendment will not cause it to downgrade, qualify
or withdraw its rating assigned to any of the Notes;

     (b) Subject to Section 12(e), any term or provision of this Agreement may be amended by
the Administrator but without the consent of the Indenture Trustee, any Noteholder, the
Issuer, the Owner Trustee or any other Person to add, modify or eliminate any provisions as
may be necessary or advisable in order to enable the Seller, the Servicer, BANA or any of
their Affiliates to comply with or obtain more favorable treatment under any law or
regulation or any accounting rule or principle (whether now or in the future), it being a
condition to any such amendment that the Rating Agency Condition shall have been satisfied.

     (c) Subject to Section 12(e), this Agreement may also be amended from time to time by
the Issuer, the Administrator and the Indenture Trustee, with the consent of the Holders of
Notes evidencing not less than a majority of the Outstanding Note Balance, voting as a
single class, for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any manner the rights
of the Noteholders. It will not be necessary for the consent of Noteholders to approve the
particular form of any proposed amendment or consent, but it will be sufficient if such
consent approves the substance thereof. The manner of obtaining such consents (and any
other consents of Noteholders provided for in this Agreement) and of evidencing the
authorization of the execution thereof by Noteholders will be subject to such reasonable
requirements as the Indenture Trustee may prescribe, including the establishment of record
dates pursuant to the Note Depository Agreement.

     (d) Prior to the execution of any such amendment, the Administrator shall provide
written notification of the substance of such amendment to each Rating Agency and the Owner
Trustee; and promptly after the execution of any such amendment or consent, the
Administrator shall furnish a copy of such amendment or consent to each Rating Agency, the
Owner Trustee and the Indenture Trustee.

     (e) Prior to the execution of any amendment to this Agreement, the Issuer, the Owner
Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an
Opinion of Counsel stating that the execution of such amendment is authorized or permitted
by this Agreement and that all conditions precedent to the execution and delivery of such
amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall
not be obligated to, enter into any such amendment which materially and adversely affects
the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges,
indemnities, duties or obligations under this Agreement, the Transaction Documents or
otherwise.

     (f) Notwithstanding anything to the contrary herein, (i) this Agreement may not be
amended in any way that would materially and adversely affect the Owner Trustee’s or the
Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties, or
obligations under this Agreement, the Transaction Documents or otherwise without prior
written consent of such Person; [(ii) this Agreement may not be amended in

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any way that would materially and adversely affect the rights or obligations of the
Swap Counterparty unless the Swap Counterparty shall have consented in writing to such
amendment (and such consent shall be deemed to have been given if the Swap Counterparty does
not object in writing within ten (10) Business Days after receipt of a written request for
such consent)]; and (iii) this Agreement may not be amended in any way that would
significantly change the permitted activities or powers of the Issuer even if such amendment
would not have an adverse effect on the Holders of the Notes without the consent of the
Holders of at least a majority of the Outstanding Notes.

     13. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

     (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL,
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO
CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED
IN ACCORDANCE WITH SUCH LAWS.

     (b) Each of the parties hereto hereby irrevocably and unconditionally:

     (i) submits for itself and its property in any legal action or Proceeding
relating to this Agreement or any documents executed and delivered in connection
herewith, or for recognition and enforcement of any judgment in respect thereof, to
the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and
appellate courts from any thereof;

     (ii) consents that any such action or Proceeding may be brought in such courts
and waives any objection that it may now or hereafter have to the venue of such
action or Proceeding in any such court or that such action or Proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;

     (iii) agrees that service of process in any such action or Proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to such Person at its address
determined in accordance with Section 11 of this Agreement;

     (iv) agrees that nothing herein shall affect the right to effect service of
process in any other manner permitted by law or shall limit the right to sue in any
other jurisdiction; and

     (v) to the extent permitted by applicable law, each party hereto irrevocably
waives all right of trial by jury in any action, Proceeding or counterclaim based
on, or arising out of, under or in connection with this Agreement, any other
Transaction Document, or any matter arising hereunder or thereunder.

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     14. Headings. The section headings hereof have been inserted for convenience of
reference only and shall not be construed to affect the meaning, construction or effect of this
Agreement.

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

     16. Severability of Provisions. If any one or more of the covenants, agreements,
provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such
covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants,
agreements, provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement.

     17. Not Applicable to BANA in Other Capacities. Nothing in this Agreement shall
affect any obligation BANA may have in any other capacity.

     18. Benefits of the Administration Agreement. Nothing in this Agreement, expressed or
implied, shall give to any Person other than the parties hereto and their successors hereunder, the
Owner Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the
Indenture[, the Swap Counterparty] and the Noteholders, any benefit or any legal or equitable
right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a
third party beneficiary of this Agreement and is entitled to the rights and benefits hereunder and
may enforce the provisions hereof as if it were a party hereto.

     19. Assignment. Each party hereto hereby acknowledges and consents to the mortgage,
pledge, assignment and Grant of a security interest by the Issuer to the Indenture Trustee pursuant
to the Indenture for the benefit of the Noteholders of all of the Issuer’s rights under this
Agreement. In addition, the Administrator hereby acknowledges and agrees that for so long as any
Notes are outstanding, the Indenture Trustee will have the right to exercise all waivers and
consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement.

     20. Nonpetition Covenant. Each party hereto agrees that, prior to the date which is
one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in
respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize
any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other
Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy
Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in
effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver,
liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any
substantial part of its property or to consent to any such relief or to the appointment of or
taking possession by any such official in an involuntary case or other Proceeding commenced against
such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its creditors
generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) none of
the parties hereto shall commence or join with any other Person in commencing any Proceeding
against such Bankruptcy Remote Party under any bankruptcy,

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reorganization, liquidation or insolvency law or statute now or hereafter in effect in any
jurisdiction.

     21. Limitation of Liability. Notwithstanding anything contained herein to the
contrary, this Agreement has been executed and delivered by [           ], not in its individual capacity
but solely as Owner Trustee, and in no event shall it have any liability for the representations,
warranties, covenants, agreements or other obligations of the Issuer hereunder or under the Notes
or any of the other Transaction Documents or in any of the certificates, notices or agreements
delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the
Issuer. Under no circumstances shall the Owner Trustee be personally liable for the payment of any
indebtedness or expense of the Issuer or be liable for the breach or failure of any obligations,
representation, warranty or covenant made or undertaken by the Issuer under the Transaction
Documents. For the purposes of this Agreement, in the performance of its duties or obligations
hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and
provisions of Articles VI, VII and VIII of the Trust Agreement.

     22. [Limitation of Rights]. [All of the rights of the Swap Counterparty in, to and
under this Agreement, if any, shall terminate upon the termination of the Interest Rate Swap
Agreement in accordance with the terms thereof and the payment in full of all amounts owing to the
Swap Counterparty under such Interest Rate Swap Agreement.]

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

	 	 	 
	 

	BANC OF AMERICA AUTO SECURITIES TRUST 20[ ]-[ ]
	 
	 	 
	 

	By: 	 [
           ],
not in its individual capacity but solely as Owner Trustee

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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S-1

 

	 	 	 	 	 
	 	
BANK OF AMERICA, NATIONAL ASSOCIATION, as Administrator

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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S-2

 

	 	 	 	 	 
	 	
[       ], not in its individual capacity but solely as

Indenture Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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Joinder of Servicer:

Bank of America, National Association, as Servicer, joins in this Agreement solely for purposes of
Section 3.

	 	 	 	 	 
	 	
BANK OF AMERICA, NATIONAL ASSOCIATION, as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

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S-4exv4w1

Exhibit 4.1

EXECUTION COPY

EIGHTH SUPPLEMENTAL INDENTURE

     THIS EIGHTH SUPPLEMENTAL INDENTURE, dated as of December 11, 2009 (this “Supplemental
Indenture”), is between Goodrich Corporation, a New York corporation (the “Issuer”), and The Bank
of New York Mellon Trust Company, N.A., a national banking association duly organized and existing
under the laws of the United States, as trustee (the “Trustee”).

WITNESSETH

     WHEREAS, pursuant to the Indenture, dated as of May 1, 1991, between the Issuer and the
Trustee, as successor trustee (the “Indenture”), the Issuer may from time to time issue and sell
debt securities in one or more series;

     WHEREAS, the Issuer desires to create and authorize a series of 4.875% Notes due 2020 limited
initially to $300,000,000 in aggregate principal amount (the “Notes”), and to provide the terms and
conditions upon which the Notes are to be executed, registered, authenticated, issued and
delivered, the Issuer has duly authorized the execution and delivery of this Supplemental
Indenture;

     WHEREAS, the Notes are a series of Securities (as that term is defined in the Indenture) and
are being issued under the Indenture, as supplemented by this Supplemental Indenture, and are
subject to the terms contained therein and herein;

     WHEREAS, the Notes are to be substantially in the form attached hereto as Exhibit A;

     WHEREAS, the Issuer and the Trustee may enter into this Supplemental Indenture without the
consent of the holders of the Securities Outstanding (as that term is defined in the Indenture) as
of the date hereof pursuant to Sections 7.1(f) and 7.1(g) of the Indenture;

     WHEREAS, all acts and things necessary to make the Notes, when executed by the Issuer and
authenticated and delivered by or on behalf of the Trustee as provided in this Supplemental
Indenture, the valid, binding and legal obligations of the Issuer, and to make this Supplemental
Indenture a legal, binding and enforceable agreement, have been done and performed;

     NOW, THEREFORE, in order to declare the terms and conditions upon which the Notes are
executed, registered, authenticated, issued and delivered, and in consideration of the foregoing
premises and the purchase of such Notes by the holders thereof, the Issuer and the Trustee mutually
covenant and agree, for the equal and proportionate benefit of the holders from time to time of the
Notes, as follows:

     Section 1. Definitions. Terms used in this Supplemental Indenture and not defined
herein shall have the respective meanings given such terms in the Indenture. As used in this
Supplemental Indenture, unless a different meaning clearly appears from the context, the following
terms shall have the meanings indicated below:

 

 

     “Book-Entry Notes” means those Notes for which a Securities Depository or its nominee
is the holder.

     “Letter of Representations” means (i) the Blanket Letter of Representations dated
December 6, 2002, executed by the Issuer and delivered to the Securities Depository and any
amendments thereto, (ii) any successor blanket agreements between the Issuer and any successor
Securities Depository, relating to a book-entry system to be maintained by the Securities
Depository with respect to any bonds, notes or other obligations issued by the Issuer, including
the Book-Entry Notes, or (iii) any successor agreements between the Issuer and the Trustee and any
successor Securities Depository, relating to a book-entry system to be maintained by the Securities
Depository with respect to the Notes.

     “Securities Depository” means a Person that is registered as a clearing agency under
Section 17A of the Securities Exchange Act of 1934 or whose business is confined to the performance
of the functions of a clearing agency with respect to exempted securities, as defined in Section
3(a)(12) of such Act for the purposes of Section 17A thereof.

     Section 2. Creation and Authorization of Series. There is hereby created and
authorized the series of Notes entitled the “4.875% Notes Due 2020,” which shall be a series
limited initially to $300,000,000 in aggregate principal amount. Notwithstanding the foregoing
initial aggregate principal amount, the Issuer may, without the consent of the holders of the
Notes, reopen this series of Notes and issue an unlimited amount of additional notes having the
same ranking, interest rate, maturity and other terms as the Notes; provided, that, the
Issuer may reopen this series of Notes only if the additional notes issued will be fungible with
the Notes for United States federal income tax purposes. Any such additional notes, together with
the Notes, will be consolidated with and constitute a single series of Securities under the
Indenture.

     Section 3. Certain Provisions Applicable to the Notes.

     (a) Except as otherwise set forth herein and in the Notes, the terms of the Notes shall be as
set forth in the Indenture, including those made part of the Indenture by reference to the Trust
Indenture Act of 1939. Holders are referred to the Indenture and the Trust Indenture Act of 1939
for a statement of such terms.

     (b) The Notes shall include all of the terms in the form of the Notes attached hereto as
Exhibit A.

     (c) The provisions of Section 10.5 of the Indenture entitled “Mandatory and Optional Sinking
Funds” shall not be applicable to the Notes.

     Section 4. Securities Depository Provisions. The Notes shall be issued initially as
Book-Entry Notes. All Book-Entry Notes shall be registered in the name of Cede & Co., as nominee of
The Depository Trust Company (“DTC”). The Issuer has executed and delivered a Letter of
Representations to DTC. All payments of principal of, redemption premium, if any, and interest on
the Book-Entry Notes and all notices with respect thereto, including notices of full or partial
redemption, shall be made and given at the times and in the manner set out in the Letter of
Representations. The terms and provisions of the Letter of

2

 

Representations shall govern in the event of any inconsistency between the provisions of the
Indenture and the Letter of Representations. The Letter of Representations may be amended without
consent of the holders of the Notes.

     The book-entry registration system for all of the Book-Entry Notes may be terminated and
certificates delivered to and registered in the name of the beneficial owners of the Book- Entry
Notes, under either of the following circumstances:

	 	(a)	 	DTC notifies the Issuer and the Trustee that it is no longer willing or able to
act as Securities Depository for the Book-Entry Notes and a successor Securities
Depository for the Book-Entry Notes is not appointed by the Issuer within 90 days; or
	 
	 	(b)	 	The Issuer determines that the Book-Entry Notes are exchangeable.

     If a successor Securities Depository is appointed by the Issuer, the Book-Entry Notes will be
registered in the name of such successor Securities Depository or its nominee. If certificates are
required to be issued to beneficial owners of the Book-Entry Notes, the Trustee and the Issuer
shall be fully protected in relying upon a certificate of DTC or any DTC participant as to the
identity of and the principal amount of Book-Entry Notes held by such beneficial owners.

     The beneficial owners of the Book-Entry Notes will not receive physical delivery of
certificates except as provided in this Supplemental Indenture. For so long as there is a
Securities Depository for the Notes, all of such Notes shall be registered in the name of the
nominee of the Securities Depository, all transfers of beneficial ownership interests in such Notes
will be made in accordance with the rules of the Securities Depository, and no investor or other
party purchasing, selling or otherwise transferring beneficial ownership of such Notes is to
receive, hold or deliver any certificate. The Issuer and the Trustee shall have no responsibility
or liability for transfers of beneficial ownership interests in such Notes.

     The Issuer and the Trustee will recognize the Securities Depository or its nominee as the
holder of the Book-Entry Notes for all purposes, including receipt of payments, notices and voting;
provided the Trustee may recognize votes by or on behalf of beneficial owners as if such votes were
made by holders of a related portion of the Notes when such votes are received in compliance with
an omnibus proxy of the Securities Depository or otherwise pursuant to the rules of the Securities
Depository or the provisions of the Letter of Representations or other comparable evidence
delivered to the Trustee by the holders of the Notes.

     With respect to a Book-Entry Note, the Issuer and the Trustee shall be entitled to treat the
Person in whose name such Note is registered as the absolute owner of such Note for all purposes of
the Indenture, and neither the Issuer nor the Trustee shall have any responsibility or obligation
to any beneficial owner of such Note. Without limiting the immediately preceding sentence, neither
the Issuer nor the Trustee shall have any responsibility or obligation with respect to (a) the
accuracy of the records of any Securities

3

 

Depository or any other Person with respect to any ownership interest in Book-Entry Notes, (b)
the delivery to any Person, other than a holder of the Notes, of any notice with respect to
Book-Entry Notes, including any notice of redemption or refunding, (c) the selection of the
particular Notes or portions thereof to be redeemed or refunded in the event of a partial
redemption or refunding of part of the Notes Outstanding or (d) the payment to any Person, other
than a holder of the Notes, of any amount with respect to the principal of, redemption premium, if
any, or interest on the Book-Entry Notes.

     Notwithstanding the provisions of Section 10.2 of the Indenture, in the event of a partial
redemption of the Notes in accordance with the Indenture and this Supplemental Indenture, the
Securities Depository for Book-Entry Notes shall select Notes for redemption according to its
stated procedures. In selecting Book-Entry Notes for redemption, each Note shall be considered as
representing that number of Notes which is obtained by dividing the principal amount of such Note
by the minimum authorized denomination.

     Section 5. Effect of Supplemental Indenture. The provisions of this Supplemental
Indenture are intended to supplement those of the Indenture as in effect immediately prior to the
execution and delivery hereof. The Indenture shall remain in full force and effect except to the
extent that the provisions of the Indenture are expressly modified by the terms of this
Supplemental Indenture.

     Section 6. Governing Law. This Supplemental Indenture shall be deemed to be a contract
under the laws of the State of New York, and for all purposes shall be construed in accordance with
the laws of such State, except as may otherwise be required by mandatory provisions of law.

     Section 7. Trustee Not Responsible for Recitals or Issuance of Notes. The recitals
contained herein shall be taken as statements of the Issuer, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Supplemental Indenture or of the Notes other than with respect to the Trustee’s
authentication and execution. The Trustee shall not be accountable for the use or application by
the Issuer of the Notes or the proceeds thereof.

     Section 8. Conflict with Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with a provision of the Trust Indenture Act of 1939 that is required under
such Act to be a part of and govern this Supplemental Indenture, the latter provisions shall
control. If any provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act of 1939 that may be so modified or excluded, the latter provision shall be deemed to
apply to this Supplemental Indenture as so modified or to be excluded, as the case may be.

     Section 9. Counterparts. This Supplemental Indenture may be executed in any number of
counterparts, each of which shall be deemed to be an original for all purposes; and all such
counterparts shall together constitute but one and the same instrument.

[The remainder of this page is left blank intentionally.]

4

 

     IN WITNESS WHEREOF, the parties hereto have caused this Eighth Supplemental Indenture to be
duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of
the day and year first above written.

	 	 	 	 	 
	 	GOODRICH CORPORATION

 	 
	 	By:  	 	 
	 	 	Michael McAuley 	 
	 	 	Vice President and Treasurer 	 
	 
	 	THE BANK OF NEW YORK MELLON

TRUST COMPANY, N.A.

 	 
	 	By:  	 	 
	 	 	Christie Leppert 	 
	 	 	Vice President 	 
	 

5

 

EXECUTION COPY

Exhibit A

GLOBAL GOODRICH NOTE

			
	 	 	 
	REGISTERED	 	 
	No.
	 	Principal Amount:                    

CUSIP: 382388 AW6

     Unless this certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to the issuer or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any payment is made to Cede
& Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

GOODRICH CORPORATION

4.875% NOTES DUE 2020

     GOODRICH CORPORATION, a corporation duly organized and existing under the laws of the State of
New York (herein called the “Company”), for value received, hereby promises to pay to Cede & Co.,
or registered assigns, the principal sum of $      , on March 1, 2020, and to pay
interest thereon semi-annually on March 1 and September 1 (the “Interest Payment Dates”) in each
year, commencing September 1, 2010, at the rate of 4.875 percent per annum until the principal
hereof is paid or made available for payment. Notwithstanding the foregoing, this note (this
“Security”) shall bear interest from the most recent Interest Payment Date to which interest in
respect hereof has been paid or duly provided for, unless (i) the date hereof is such an Interest
Payment Date, in which case from the date hereof, or (ii) no interest has been paid on this
Security, in which case from December 11, 2009; provided, however, that if the Company shall
default in the payment of interest due on the date hereof, then this Security shall bear interest
from the next preceding Interest Payment Date to which Interest has been paid or, if no interest
has been paid on this Security, from December 11, 2009. Notwithstanding the foregoing, if the date
hereof is after the February 15 or August 15 (whether or not a Business Day) (the “Record Date”),
as the case may be, next preceding an Interest Payment Date and before such Interest Payment Date,
this Security shall bear interest from such Interest Payment Date; provided, however, that if the
Company shall default in the payment of interest due on such Interest Payment Date, then this
Security shall bear interest from the next preceding Interest Payment Date to which interest has
been paid or, if no interest has been paid on this Security, from December 11, 2009. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to
certain exceptions provided in the Indenture referred to on the reverse hereof, be paid to the
Person in whose name this Security is registered at the close of business on the Record Date next
preceding such Interest Payment Date.

A-1

 

     Payment of the principal of and any such interest on this Security will be made at the office
or agency of the Company maintained for that purpose in New York City in such coin or currency of
the United States of America as at the time is legal tender for the payment of public and private
debts; provided, however, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the
Security register.

     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 Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

[The remainder of this page is left blank intentionally.]

A-2

 

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

	 	 	 	 	 
	DATED: 	GOODRICH CORPORATION

 	 
	 	By:  	 	 
	 	 	Michael McAuley 	 
	 	 	Vice President and Treasurer 	 
	 

Attest:

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Sally L. Geib 

Secretary
	 	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

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

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Christie Leppert
	 	 
	 

	 	Vice President	 	 

A-3

 

REVERSE OF SECURITY

GOODRICH CORPORATION

4.875% NOTES DUE 2020

     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 May
1, 1991, between the Company and The Bank of New York Mellon Trust Company, N.A., as successor
trustee (herein called the “Trustee”) and the Eighth Supplemental Indenture, dated as of December
11, 2009, between the Company and the Trustee (collectively, the “Indenture”), to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, obligations, duties and immunities thereunder of the Company, the
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 a series designated on the face hereof
limited initially to $300,000,000 in aggregate principal amount. The separate series of Securities
may be issued in various aggregate principal amounts, may mature at different times, may bear
interest, if any, at different rates, may be subject to different redemption provisions (if any),
may be subject to different sinking or purchase funds (if any), may be subject to different
repayment provisions (if any), may be subject to different covenants and Events of Default and may
otherwise vary as provided in the Indenture. The Indenture further provides that the Securities of
a single series may be issued at various times, with different maturity dates, may bear interest,
if any, at different rates, may be subject to different redemption provisions (if any), may be
subject to different sinking or purchase funds (if any) and may be subject to different repayment
provisions (if any).

     Any payment required to be made with respect to this Security on a day that is not a Business
Day need not be made on such day, but may be made on the next succeeding Business Day with the same
force and effect as if made on such day, and no interest shall accrue for the period from and after
such date to the date of payment.

     This Security is redeemable, in whole or in part, at any time from time to time, at the option
of the Company, at a redemption price equal to the greater of (1) 100% of the principal amount of
the Security and (2) the sum of the present values of the remaining scheduled payments of principal
and interest thereon (not including any portion of any payment of interest accrued to the
redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus, in each case,
accrued and unpaid interest thereon to the redemption date.

     “Comparable Treasury Issue” means the United States Treasury security selected by the
Reference Treasury Dealer as having a maturity comparable to the remaining term of the Securities
of the series to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Securities.

A-4

 

     “Comparable Treasury Price” means, with respect to any redemption date for the Securities of
this series, (i) the average of the Reference Treasury Dealer Quotations for such redemption date,
after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the
Trustee obtains fewer than four Reference Treasury Dealer Quotations, the average of all Reference
Treasury Deal Quotations.

     “Reference Treasury Dealer” means (i) Citigroup Global Markets Inc., Deutsche Bank Securities
Inc., Calyon Securities (USA) Inc. (or their respective affiliates which are Primary Treasury
Dealers (as defined below)) and the respective successors of each of the foregoing; provided,
however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer
in the United States of America (a “Primary Treasury Dealer”), the Company will substitute another
Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Company.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City
time, on the third Business Day preceding such redemption date.

     “Treasury Rate” means, with respect to any redemption date for the Securities of this series,
the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury
Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury
Rate shall be calculated on the third Business Day preceding the redemption date.

     In the event of redemption of this Security in part only, a new Security or Securities of this
series for the unredeemed portion hereof having the same interest rate and maturity as this
Security will be issued in the name of the holder hereof upon the cancellation hereof.

     Except as set forth above, the Securities of this series will not be redeemable by the Company
prior to maturity and will not be entitled to the benefit of any sinking fund.

     If a Change of Control Triggering Event occurs, unless the Company has exercised its option to
redeem this Security as described above, the Company will be required to make an offer (the “Change
of Control Offer”) to each holder of Securities to repurchase all or any part (equal to $2,000 or
an integral multiple of $1,000 in excess thereof) of that holder’s Securities on the terms set
forth herein. In the Change of Control Offer, the Company will be required to offer payment in cash
equal to 101% of the aggregate principal amount of Securities repurchased, plus accrued and unpaid
interest, if any, on the Securities repurchased to the date of repurchase (the “Change of Control
Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s
option, prior to the date of the consummation of any Change of Control, but after public
announcement of the transaction that constitutes or may constitute the Change of Control, the
Company will be required to mail a notice to holders of Securities, with a copy to the Trustee,
describing the

A-5

 

transaction or transactions that constitute or may constitute the Change of Control Triggering
Event and offering to repurchase the Securities on the date specified in the notice, which date
will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the
“Change of Control Payment Date”) pursuant to the procedures described in such notice and in
conformity with the Indenture.

     The notice shall, if mailed prior to the date of the consummation of the Change of Control,
state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring
on or prior to the payment date specified in the notice.

     On the Change of Control Payment Date the Company will be required, to the extent lawful, to:
(a) accept for payment all Securities or portions of Securities properly tendered pursuant to the
Change of Control Offer; (b) deposit with the paying agent an amount equal to the Change of Control
Payment in respect of all Securities or portions of Securities properly tendered; and (c) deliver
or cause to be delivered to the Trustee the Securities properly accepted together with an Officers’
Certificate stating the aggregate principal amount of Securities or portions of Securities being
repurchased.

     The paying agent will promptly mail or electronically deliver to each holder of Securities
properly tendered the purchase price for the Securities, and the Trustee will promptly authenticate
and mail (or cause to be transferred by book-entry) to each holder a new Security equal in
principal amount to any unpurchased portion of any Securities surrendered; provided that each new
Security will be in a principal amount of U.S. $2,000 or an integral multiple of U.S. $1,000 in
excess thereof.

     The Company will not be required to make the Change of Control Offer upon a Change of Control
Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in
compliance with the requirements for an offer made by the Company and such third party purchases
all Securities properly tendered and not withdrawn under its offer. In addition, the Company will
not repurchase any Securities if there has occurred and is continuing on the Change of Control
Payment Date an Event of Default under the Indenture, other than a default in the payment of the
Change of Control Payment upon a Change of Control Triggering Event.

     The Company must comply with the requirements of Rule 14e-1 under the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the
Securities as a result of a Change of Control Triggering Event. To the extent that the provisions
of any securities laws or regulations conflict with the Change of Control Triggering Event
provisions of the Securities, the Company will comply with those securities laws and regulations
and will not be deemed to have breached its obligations under the Indenture or the Change of
Control Offer provisions of the Securities by virtue of any such conflicts.

A-6

 

     For purposes of the Change of Control Offer provisions, the following terms are applicable:

     “Change of Control” means the occurrence of any of the following: (1) the consummation of any
transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than the
Company or one of its subsidiaries) becomes the beneficial owner (as defined in Rules 13d-3 and
13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s Voting
Stock or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated,
exchanged or changed, measured by voting power rather than number of shares; (2) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or more series of related transactions, of all or substantially all of the
Company’s assets and the assets of its subsidiaries, taken as a whole, to one or more “Persons” (as
that term is defined in the Indenture) (other than the Company or one of its subsidiaries); or (3)
the first day on which a majority of the members of the Company’s Board of Directors are not
Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to involve a
Change of Control if (1) the Company becomes a direct or indirect wholly-owned subsidiary of a
holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding
company immediately following that transaction are substantially the same as the holders of the
Company’s Voting Stock immediately prior to that transaction or (B) immediately following that
transaction no Person (other than a holding company satisfying the requirements of this sentence)
is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such
holding company.

     “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Rating Event.

     “Continuing Directors” means, as of any date of determination, any member of the Company’s
Board of Directors who (1) was a member of such Board of Directors on the date the Securities were
issued or (2) was nominated for election, elected or appointed to such Board of Directors with the
approval of a majority of the Continuing Directors who were members of such Board of Directors at
the time of such nomination, election or appointment (either by a specific vote or by approval of
the Company’s proxy statement in which such member was named as a nominee for election as a
director, without objection to such nomination).

     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from
any additional rating agency or rating agencies selected by us.

     “Moody’s” means Moody’s Investors Service Inc.

     “Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P
ceases to rate the Securities or fails to make a rating of the Securities

A-7

 

publicly available for
reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the
Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of
Directors) as a replacement agency for Moody’s or S&P, or both of them, as the case may be.

     “Rating Event” means the rating on the Securities is lowered by each of the Rating Agencies
and the Securities are rated below an Investment Grade Rating by each of the Rating Agencies on any
day within the 60-day period (which 60-day period will be extended so long as the rating of the
Securities is under publicly announced consideration for a possible downgrade by any of the Rating
Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of
the occurrence of a Change of Control or the Company’s intention to effect a Change of Control;
provided, however, that a Rating Event otherwise arising by virtue of a particular reduction in
rating will not be deemed to have occurred in respect of a particular Change of Control (and thus
will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering
Event) if the Rating Agencies making the reduction in rating to which this definition would
otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Company
or its request that the reduction was the result, in whole or in part, of any event or circumstance
comprised of or arising as a result of, or in respect of the applicable Change of Control (whether
or not the applicable Change of Control has occurred at the time of the Rating Event).

     “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc.

     “Voting Stock” means, with respect to any specified “person” (as that term is used in Section
13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time
entitled to vote generally in the election of the board of directors or similar governing body of
such person.

     If an Event of Default with respect to Securities of this series shall occur and be
continuing, then the Trustee or the holders of not less than 25% in aggregate principal amount
(calculated as provided in the Indenture) of the Securities of this series then Outstanding may
declare the principal of the Securities of this series and accrued interest thereon, if any, to be
due and payable in the manner and with the effect provided in the Indenture.

     The Indenture permits, with certain exceptions as therein provided, the amendment or
supplementing thereof and the modification of the rights and obligations of the Company and the
rights of the holders of the Securities of each series to be affected under the Indenture at any
time by the Company and the Trustee with the consent of the holders of not less than a majority in
aggregate principal amount (calculated as provided in the Indenture) of the Securities at the time
Outstanding of all series to be affected (all such series voting as a single class). The Indenture
also contains provisions permitting the holders of not less than a majority in aggregate principal
amount (calculated as provided in the Indenture) of the Securities of each series at the time
Outstanding, on behalf of the holders of all Securities of

A-8

 

such series, to waive certain past
defaults or Events of Default under the Indenture and the
consequences of any such defaults or Events of Default. Any such consent or waiver by the
holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and
binding upon such holder and upon all future holders of this Security and of any Security 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 interest, if any, on this Security at the times, place, and rate, if any, and
in the coin or currency, herein prescribed.

     The Securities of this series are being issued by means of a book-entry system with no
physical distribution of note certificates to be made except as provided in the Indenture. As
provided in the Indenture and subject to certain limitations set forth therein, the transfer of
this Security is registrable in the Security register, upon due presentment of this Security for
registration of transfer at the office or agency of the Company in any place where the principal of
and interest, if any, 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 his attorney duly authorized in writing, and thereupon one or more new
Securities of this series, having the same interest rate and maturity and bearing interest from the
same date as this Security, of any authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $2,000 and whole multiples of $1,000. As provided in the Indenture and subject to
certain limitations set forth therein, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series of a different authorized denomination
having the same interest rate and maturity and bearing interest from the same date as such
Securities, as requested by the holder surrendering the same.

     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
Trustee and any agent of the Company or the 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 notwithstanding any notation of ownership or other writing thereon, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary. All payments
made to or upon the order of such registered holder, shall, to the extent of the sum or sums paid,
effectually satisfy and discharge liability for monies payable on this Security.

     No recourse for the payment of the principal of or interest, if any, on this Security, or for
any claim based hereon or otherwise in respect hereof, and no recourse under or upon

A-9

 

any
obligation, covenant or agreement of the Company in the Indenture or any indenture
supplement thereto or in any Security, or because of the creation of any indebtedness
represented thereby, shall be had against any incorporator, stockholder, official or director, as
such, past, present, or future, of the Company or of any successor entity, either directly or
through the Company or any successor corporation, 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 part of the consideration for the issue hereof, expressly
waived and released.

     All terms used in this Security and not otherwise defined herein which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

     This Security shall be governed by and construed in accordance with the laws of the State of
New York.

A-10

 

 

     FOR VALUE RECEIVED,                                          the undersigned hereby sells, assigns and
transfers unto

[PLEASE INSERT SOCIAL SECURITY OR

TAX IDENTIFICATION NUMBER OF ASSIGNEE]

!

!

!

 

 

 

[PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING ZIP CODE, OR ASSIGNEE]

the within Security and all rights thereunder, and hereby irrevocably constitutes and appoints
                     attorney to transfer the within Security on the books kept for registration
thereof, with full power of substitution in the premises.

Dated:                                         

	 	 	 	 	 
	NOTICE:
	 	 	 	 
	 

	 	 

The signature to this assignment must correspond with the name as
it appears upon the face of the within Security in every
particular, without alteration or enlargement or any change
whatever.
	 	 

A-11

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