Document:

Mobile application agreement

EXHIBIT 10.1

MOBILE APPLICATION DEVELOPMENT AND INTELLECTUAL PROPERTY ASSIGNMENT AGREEMENT

MOBILE APPLICATION DEVELOPMENT AND INTELLECTUAL PROPERTY ASSIGNMENT AGREEMENT (“Agreement”) is made and entered into as of the 22nd day of August, 2013 (the “Effective Date”) by and between Overtech Corp. (“Company”) and Murad Guseinov (“Developer”).  Intending to be legally bound, Company and Developer agree as follows:

WHEREAS, Developer is in the business of providing certain technological services, including but not limited to application development and technical solutions for his clients; and

WHEREAS, Company desires to enter into this Agreement with Developer for certain services and the development of certain applications, as described further under this Agreement.

NOW, THEREFORE, in consideration of the mutual promises and covenants, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. SERVICES. Developer will perform for Company, as a “work made for hire”, the services doe the development of a mobile game software application for iOS devices and Android OS devices, that are more particularly described in any schedules, invoices, purchase order or statements of work (“hereinafter all referenced as “Schedules”) that the parties have executed, or may execute from time to time, which shall be and are hereby incorporated by reference and made a part of this Agreement. Any and all services and/or Schedules performed by Developer (hereinafter referred to as “Work”), may include, but are not limited to, the development and/or delivery of any software, applications, technologies, materials, inventions, ideas, designs, concepts, techniques, discoveries, or improvements created by Developer. Developer is not obligated to perform any Work, and Company has not contracted for any Work, unless and until a Schedule is executed by both parties. Both parties agree the requirement of a written signed Schedule is satisfied upon either (a) Developer and Company’s signing a Schedule, or (b) Developer’s commencing Work described in an electronic Schedule or purchase order transmitted by an authorized and designated Company employee. In the event that Developer performs and Company pays for any services without having executed a Schedule or any other written agreement applying to such services, then such services will constitute Work under this Agreement and will be governed by the terms and conditions of this Agreement. Developer agrees to deliver final software applications (and all source code and object code related thereto) to Company no later than 6 months after receiving the $5,000 payment, described in Section 5, to commence activities related to the Work described in the Schedule.

2. ACCEPTANCE PROCESS. Unless provided otherwise in the applicable Schedule, Company will have forty-five (45) days following delivery of any Work in which to evaluate the Work and any portion thereof and submit a written notice of acceptance or rejection to Developer, or such other longer time as is reasonable under the circumstances. Company may accept or reject Work based on its failure to conform to any Schedule, specifications or warranties or its being unfit for Company’s intended purpose. No Work shall be deemed accepted absent Company’s written acknowledgement of its acceptance to Developer and shall therefore constitute Developer’s rejection of Work. In the event of Developer’s rejection of any Work, Developer will promptly correct the Work. If Developer fails to correct the Work within fifteen (15) days after notice of rejection or other reasonable period agreed to by the parties, Company may terminate the applicable Work to this Agreement, or the applicable portion thereof, and receive a full refund of amounts paid under such Schedule for the rejected Work.

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3. SUBCONTRACTING. Developer may not subcontract the Work or any portion of the Work under this Agreement to any third party (including without limitation any independent contractor) without the prior written consent of Company. In the event that Company consents to the use of a subcontractor, then (a) Developer guarantees the subcontractor’s performance, (b) Developer remains obligated under this Agreement and the applicable Schedule for the performance of the subcontracted Work, notwithstanding Company’s consent to the use of a subcontractor, (c) Developer will, prior to the subcontractor begins to perform any of the subcontracted Work, enter into a written agreement with the subcontractor obligating the subcontractor to comply with Developer’s obligations under this Agreement and the applicable Schedule, (d) Company will have no obligation or liability to the subcontractor under this Agreement or any Schedule or otherwise and the subcontractor will have no rights or remedies against Company under this Agreement or any Schedule or otherwise, and (e) Company will have the right but not the obligation to directly pay the subcontractor for any Work it performs under this Agreement and to offset the amount of such payment against any amounts owed Developer. Developer may not impose on Company a surcharge for any subcontractor fees.

4. COMPANY MATERIALS. For purposes of this Agreement: “Company Materials” means any equipment or other tangible materials, software, documentation, methodologies, know how, processes, techniques, ideas, concepts, technologies, data and/or any other information that are provided by Company to Developer in connection with any Schedule. If Company provides Developer any Company Materials in connection with any Schedule, then Company hereby grants Developer a non-exclusive, personal, non-transferable, non-assignable license to (during the term of such Schedule and subject to any additional terms and conditions in any license or other agreement provided by Company with such Company Materials) internally use, modify and create derivative works of such Company Materials for the sole purpose of, and solely to the extent strictly necessary for, performing the Work under such Schedule. Any modifications, enhancements, and/or derivative works Developer makes of Company Materials will constitute Work assigned to Company under this Agreement. Company retains all right, title and interest in the Company Materials. The Company Materials constitute Company Confidential Information and are subject to Section 7 of this Agreement. Developer assumes the risk of loss, damage, unauthorized access and/or use, theft and/or disappearance of Company Materials in Developer’s care, custody or control. Developer will not remove, alter or obscure any markings identifying Company Materials as Company property or proprietary or confidential to Company. Developer acknowledges that Company Materials consisting of Company software are subject to U.S. export jurisdiction and may be of U.S. origin. Developer agrees to comply with all applicable international and national laws that apply to the Company Materials, including without limitation the U.S. Export Administration Regulations, as well as end-user, end-use and destination restrictions issued by U.S. and other governments.

5. PAYMENT TERMS. Company will pay Developer the fees for the Work as set forth in the applicable Schedule for such Work (“Fees”), in accordance with such Schedule and the payment terms in this Section 5. Unless otherwise agreed upon in any Schedule, Company will pay Developer (i) US$5,000 prior to commencement of Work described in the Schedule, and (ii) US$10,000 within sixty (60) days from Company’s acceptance of the Work and receipt of a correct and undisputed invoice from Developer.  Unless otherwise agreed in the Schedule, in no event will Company be obligated to pay any invoice received from Developer more than sixty (60) days from the date the Work was accepted. Developer will bear sole responsibility for all expenses incurred in connection with the performance of the Work, unless otherwise agreed to in advance and in writing by Company.

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5.1 Company Invoice. Developer will invoice Company for all amounts due under this Agreement in accordance with any Schedule, this Agreement or as otherwise agreed upon in writing by the parties. Developer’s invoices will set forth all amounts due from Company to Developer and will contain sufficient detail to allow Company to determine the accuracy of the amount(s) billed. 

5.2 Payment Method. Payments by Company will be made, within Company’s discretion, according to Company’s then-current payment policies or as agreed upon in the applicable Schedule. Company will be entitled to offset any amounts that Developer owes to Company against any amounts Company owes to Developer.

5.3 Disputed Amounts. Company may dispute any payable amount by notice to Developer orally or in writing within sixty (60) calendar days of Company’s receipt of the invoice, which claim of dispute may concern not only the accuracy of the charge itself, but also any claim of deficient services or performance, or any other claim of breach of this Agreement that relates to the specific charges in the invoice. Any partial payment of an invoice will be deemed notice by Company of the disputed amount, unless such partial payment is in accordance with payment terms contained in the applicable Schedule for Work. All disputed amounts that Company subsequently agrees in writing to pay, or that are required to be paid pursuant to a proper court order or award from any mutually submitted arbitration, will be paid on the payment terms set forth in Section 5 above. Payment of an invoice without asserting a dispute is not a waiver of any claim or right. Failure by Company to dispute any invoiced amount within the periods set forth above will not be deemed a waiver of any claims that were unknown to Company at the time.

		
	6.

	INTELLECTUAL PROPERTY RIGHTS AND OWNERSHIP OF WORK

For purposes of this agreement, “Intellectual Property Rights” means any and all (i) copyrights and other rights associated with works of authorship throughout the world, including neighboring rights, moral rights, and mask works, (ii) trade secrets and other confidential information, (iii) patents, patent disclosures and all rights in inventions (whether patentable or not), (iv) trademarks, trade names, Internet domain names, and registrations and applications for the registration thereof together with all of the goodwill associated therewith, (v) all other intellectual and industrial property rights of every kind and nature throughout the world and however designated, whether arising by operation of law, contract, license, or otherwise, and (vi) all registrations, applications, renewals, extensions, continuations, divisions, or reissues thereof now or hereafter in effect.

6.1 Work Made for Hire. The Work (including, without limitation, any works of authorship, documents, records, notes, inventions (whether or not reduced to practice), methods, materials, ideas, designs, models, concepts, techniques, discoveries, and improvements created, conceived or reduced to practice by Developer in connection with Work or by use of or exposure to Company Confidential Information) has been specially ordered and commissioned by Company, may be incorporated in existing Company works as a compilation or collective work, and constitutes work made for hire for Company under applicable copyright law to the extent it qualifies as such. Developer agrees that Company will own all Intellectual Property Rights in the Work and that the Work is a “work made for hire” for copyright purposes. 

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6.2 Assignment. Developer hereby assigns to Company, its successors and assigns, all rights, title and Intellectual Property Rights interests in and to the Work including, without limitation, the following:

(a) any Intellectual Property Rights that Developer may possess or acquire in the Work that do not qualify as a work made for hire, and all copyrights and equivalent rights in the Work, throughout the world, including without limitation all renewals and extensions of such rights that may be secured under the laws now or hereafter in force and effect in the United States of America or in any other country or countries;

(b) all rights in and to any inventions, ideas, designs, concepts, techniques, discoveries, or improvements, whether or not patentable, embodied in the Work or developed in the course of Developer’s creation of the Work, including, but not limited to, all trade secrets, utility and design patent rights and equivalent rights in and to such inventions and designs throughout the world, regardless of whether or not legal protection for the Work is sought;

(c) any documents, magnetically or optically encoded media, or other materials created by Developer under this Agreement; and

 

(d) the right to sue for infringements (including, without limitation, any infringements that may occur before the date of this Agreement), and to collect and retain damages from any such infringements.

6.3 Assignment in Perpetuity & Worldwide. For the avoidance of doubt: (a) the assignment set forth in Section 6.2 above is in perpetuity and worldwide; and (b) notwithstanding anything contained in any applicable law of any jurisdiction, the assigned rights will not revert to Developer if not exercised at any time whatsoever.

6.4 Further Assurances; Other Rights. At Company’s expense, Developer will execute and deliver such documents and take such other action as may be requested by Company to evidence, perfect or protect Company’s rights in the Work and to carry out the assignments and waivers contemplated in this Section 6. In this regard, Developer will cooperate with Company in the filing and prosecution of any copyright, trademark or patent applications that Company may elect to file on the Work or inventions and designs relating to the Work. Developer hereby appoints Company as Developer’s attorney-in-fact (this appointment being irrevocable and coupled with an interest) to execute such documents on Developer’s behalf. Developer will not challenge, oppose or interfere with such applications and will not file any such applications on its own behalf. To the extent Developer has any rights in the Work not subject to assignment, including without limitation any moral rights; Developer waives and agrees not to assert such rights and enforcement thereof to the maximum extent permitted by law.

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	7.

	NON-DISCLOSURE

7.1 Non-Disclosure Generally. At all times during and after the term of this Agreement, Developer will hold in strictest confidence, and will not use or disclose to any third party, any Company Confidential Information. The term “Company Confidential Information” means all non-public information that Company designates as being confidential or which under the circumstances of disclosure ought to be treated as confidential. “Company Confidential Information” includes, without limitation, Company Materials, the Work, the existence of this Agreement and/or any Schedules, terms and conditions of this Agreement and/or any Schedules, information relating to released or unreleased Company software or hardware products, marketing or promotion of any Company product, business policies or practices of Company, customers or suppliers of Company, “Personal Information” (as defined in Section 8.1 below), or information received from others that Company is obligated to treat as confidential. If Developer has any questions as to what constitutes Company Confidential Information, Developer will consult with Company. “Company Confidential Information” does not include information that, through no fault or breach of Developer or any third party: (a) was known to Developer prior to Company’s disclosure to Developer; or (b) becomes publicly available.

7.2 Press Releases and Publicity. Absent Company’s written authorization, which shall only apply to each specific instance or request by Developer, Developer will not issue press releases or publicity in any form that relates to this Agreement. Developer will not use the Company’s name or any Company trademarks in any brochures, advertisements, websites or other marketing materials, except as may be expressly permitted in the applicable Schedule or other Company agreement, and then only if such use complies with guidelines designated by Company from time to time, and only if such use has been reviewed and approved in advance by Company as to its compliance with the applicable Schedule or agreement and with Company guidelines. Provided that Developer requests and obtains Company’s prior written consent, Developer may use the Company’s name in client presentations or in written response to requests for client lists as part of requests for proposals or requests for information.

 

		
	8.

	PERSONAL INFORMATION

8.1 Personal Information Defined. For the purposes of this section, “Personal Information” means any information provided by Company or collected by Developer in connection with this Agreement (a) that identifies or can be used to identify, contact, or locate the person to whom such information pertains, or (b) from which identification or contact information of an individual person can be derived. Personal Information includes, but is not limited to, name, address, phone number, fax number, email address, social security number or other government-issued identifier, and credit card information. Additionally, to the extent any other information (such as, but not necessarily limited to, a personal profile, unique identifier, biometric information, and/or Internet Protocol address) is associated or combined with Personal Information, then such information also will be considered Personal Information.

8.2 Collection and Access. Developer will not collect or access any Personal information except to the extent such collection or access is strictly necessary to perform the Work or to fulfill any legal requirements in the performance of the Work. If the Work involves the collection of Personal Information directly from individuals, such as through a webpage, Developer will provide a clear and conspicuous notice regarding the uses of the Personal Information and comply with Company’s notices, policies and procedures for the collection and use of Personal Information. 

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8.3 Use of Personal Information. Developer will use Personal Information only as necessary to perform the Work in accordance with this Agreement and the applicable Schedule and not for any other purpose whatsoever. Developer will maintain such Personal Information as Company Confidential Information under Section 7. Developer will not share any Personal Information that is collected or possessed by Developer with any third parties for any reason except as necessary to carry out the Work, and only under terms and conditions substantially similar to those contained in this Section 8. If Developer is served with a court order compelling disclosure of any Personal Information or receives notice of proceedings for such an order, Developer will oppose the order, will promptly notify Company of the order or notice, and will provide Company the opportunity to intervene before Developer files any response to the order or notice.

8.4 Handling of Personal Information. Developer will take reasonable steps to protect Personal Information in Developer’s possession from unauthorized use, access, disclosure, alteration or destruction. Security measures will include, without limitation, access controls, encryption or other means, where appropriate. Developer must immediately notify Company of any known security breach that may result in the unauthorized use, access, disclosure, alteration or destruction of Personal Information. Developer will conduct an audit on at least an annual basis to evaluate the security of Personal Information in Developer’s possession and to verify that the terms of this Agreement with respect to Personal Information are being followed. Upon request from Company, Developer will provide Company with all audit results and all Personal Information in Developer’s possession.

		
	 
	

9. DEVELOPER REPRESENTATIONS AND WARRANTIES

Developer represents and warrants that:

(a) Developer has full and exclusive right and power to enter into and perform according to the terms of this Agreement;

(b) The Work as delivered to Company does not infringe or misappropriate any copyright, patent, trade secret, trademark, or other proprietary right held by any third party and is free of any lien, claim, security interest or encumbrance;

 

(c) The Work will meet the specifications described in the applicable Schedule, will be complete and accurate, and will comply with all applicable laws and regulations;

(d) Developer will have all necessary rights to the Work to transfer ownership to Company as required by Section 6.2 above. Work created by Developer employees will be created within the scope of their employment and pursuant to written obligation to assign to Developer all right, title and interest in the Work, including without limitation the rights enumerated and assigned to Company in Section 6.2 above. If Company provides consent under Section 3 for a subcontractor to perform Work, such subcontractor will be bound by written obligation to assign all right, title and interest in the Work to Developer including without limitation the rights enumerated and assigned to Company in Section 6.2 above;

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(e) Developer will not incorporate into the Work any product, software, or other materials for which the intellectual property rights are not owned solely by Developer without the express written permission of Company;

(f) The Work will be performed in a professional manner and will be of a high grade, nature, and quality;

(g) The Work is not, and when delivered to Company will not be, in whole or in part, governed by an Excluded License. An Excluded License is any license that requires, as a condition of use, modification and/or distribution of software subject to the Excluded License, that such software and/or other software combined and/or distributed with such software be (a) disclosed or distributed in source code form; (b) licensed for the purpose of making derivative works; or (c) redistributable at no charge.

(h) The software component of any Work as delivered to Company will not contain any viruses or other applications or executables that will degrade or infect any Work product or any other software or Company’s network or systems, including without limitation any “trap doors,” “worms” and “time bombs.”

(i) Developer will dedicate appropriate facilities, skilled employees, and resources to complete Work.

(j) Company Materials will be used for the sole purpose of performing the Work under the Schedule for which Company provides the Company Materials to Developer. Company Materials will not be disclosed to or used for the benefit of any third party.

(k) Developer will comply with all applicable laws and treaties in performing the Work, including without limitation all applicable employment, health and safety, environmental and immigration laws.

Developer agrees that any breach, or threatened breach, of this Agreement by Developer could cause irreparable damage and that in the event of such breach, or threatened breach, the Company shall have, in addition to any and all remedies of law, the right to an injunction, specific performance as well as all other equitable relief to prevent the violation of Developer’s obligations hereunder without the necessity of any proof of actual damages or the posting of a bond or other security.

		
	10.

	INDEMNITY

10.1 Indemnification Obligation. Developer will indemnify, hold harmless and upon written request defend Company and its affiliates and the respective officers, directors, employees, agents and successors of Company and its affiliates (collectively, “Indemnified Parties”) from and against any and all actions,

suits, proceedings, claims, demands, investigations, liabilities, damages, penalties, fines, judgments, settlements, costs and expenses (including, without limitation, any attorneys’ and experts’ fees and expenses) arising out of or relating to (a) any claim that the Work, or any name or mark furnished by Developer under this Agreement, infringes or misappropriates any confidential information, trade secret, patent, copyright, trademark, trade name, or any other legal right of any third party, (b) any claim that, if true, would constitute a breach of Developer’s warranties set forth in Section 9 of this Agreement, and/or (c) Developer’s negligence, malfeasance, violation of law, or any other breach of or default under this Agreement (collectively, “Claims”).

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10.2 Indemnification Procedure. If any action is brought against any Indemnified Party for which Developer is obligated to provide a defense under Section 10.1, Company or the Indemnified Party will promptly notify Developer in writing. Company will cooperate with Developer at Developer’s request and expense in all reasonable respects in connection with the defense of any such action. Developer may upon written notice thereof to the applicable Indemnified Parties undertake to conduct all proceedings or negotiations in connection therewith and assume the defense thereof, and if it so undertakes, it will also undertake all other required steps or proceedings to settle or defend any such action, including without limitation the employment of counsel satisfactory to the applicable Indemnified Parties and payment of all expenses as they come due. Company and the Indemnified Parties will have the right to employ separate counsel and participate in the defense thereof at their own expense. Developer will reimburse the applicable Indemnified Parties upon demand for any payments made or loss suffered by them in connection with any Claim. Developer will keep the applicable Indemnified Parties informed of and consult with them concerning defense or settlement of each Claim. Developer will not have any right, without the applicable Indemnified Parties’ prior written consent, to agree or consent to any stipulation, admission or acknowledgment of any fault, guilt, wrongdoing or liability on the part of any Indemnified Party or to any settlement, judgment or order.

10.3 Infringing Work. If the Work furnished hereunder is in any action held to constitute an infringement and its use is enjoined, Developer will, in addition to its obligations under Section 10.1 and Section 10.2, immediately and at its expense either (a) procure for Company the right to continue use, sale, and marketing of the Work or (b) replace or modify the Work with a version of the Work that is non- infringing. If options (a) and (b) are not available to Developer, Developer will refund to Company all amounts paid to Developer by Company hereunder.

11. LIMITATIONOF LIABILITY

NOTWITHSTANDING ANYTHING ELSE HEREIN, EXCEPT FOR ANY LIABILITY  OR  DAMAGES  ARISING  OUT  OF SECTIONS  6, 7, 8 AND 9  OR GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, IN NO  EVENT  WILL  EITHER  PARTY  BE  LIABLE  TO  THE  OTHER PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT UNDER ANY CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR ANY OTHER LEGAL OR EQUITABLE THEORY FOR (A) ANY SPECIAL, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, (B) ANY AMOUNT IN THE AGGREGATE IN EXCESS OF THE  FEES  PAID  (PLUS  AMOUNTS  PAYABLE)  TO  TOPTAL  IN  THE  SIX  (6)  MONTH PERIOD PRIOR TO THE DATE THE CAUSE OF ACTION AROSE.

		
	12.

	TERM AND TERMINATION

12.1 Term. This Agreement will commence as of the Effective Date and will remain in effect until terminated. Either party may terminate this Agreement if the other party is in material breach or default of any obligation that is not cured within thirty (30) calendar days’ notice of such breach. Notwithstanding the foregoing, Company may terminate this Agreement upon three (3) days written notice to Developer, in the event Developer has breached or Company reasonably believes Developer to have breached its obligations under this Agreement in relation to any of the following: non-disclosure and confidentiality, compliance with applicable laws and regulations, Company’s or a third party’s proprietary and intellectual property rights, or any lawsuits, actions, claims, assertions or other legal proceedings against Developer. 

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12.2 Termination of Agreement. This Agreement will terminate upon ninety (90) days’ prior written notice by either party, provided that Developer must complete and deliver to Company all Work pursuant to any Schedules in effect. 

12.3 Termination Effect. The sole effect of terminating this Agreement will be to terminate the ability of either party to enter into subsequent Schedules that incorporate the terms of this Agreement. Termination of the Agreement will not, by itself, result in the termination of any Schedules previously entered into (or extensions of the same) that incorporate the terms of this Agreement, and the terms of this Agreement will continue in effect for purposes of such Schedules unless and until the schedule itself is terminated or expires.

 

12.4 Termination of Schedule. The term of any Schedules may be set forth in an applicable schedule. Company will have the right to cancel any Schedule with or without cause upon written notice to Developer. Upon receipt of such notice, Developer will discontinue all Work under the applicable Schedule. Except in cases of cancellation for cause under this Agreement, Company will pay for all Work performed by Developer under the applicable Schedule up until the earlier of: (a) the date of Developer’s receipt of the cancellation notice; or (b) the date five (5) days after Company sends the cancellation notice.

12.5 Delivery of Materials. Within ten (10) days following completion of or cancellation of a Schedule or termination of this Agreement, or upon Company’s request, Developer will (a) deliver to Company all tangible materials constituting, containing or embodying Work, Company Confidential Information, Personal Information and Company Materials (including, without limitation, all drawings, blue prints, notes, memoranda, specifications, software, electronic media, designs, devices, documents, documentation and any other materials), and (b) irretrievably delete all Work, Company Confidential Information, Personal Information and Company Materials that Developer possesses in electronic or other intangible form, except to the extent that Company may in its sole discretion provides its prior written consent to Developer retaining any of the foregoing, and except that, unless Company provides contrary instructions, Developer may retain any Work, Company Confidential Information, Personal Information and Company Materials necessary to complete Work under Schedules that have not been completed or cancelled. At Company’s request, Developer will provide Company with a certificate signed by an officer of Developer certifying Developer’s compliance with the foregoing.

12.6 Survival. Sections 5,6, 7, 8, 9 and 10 and all of the respective subsections of each of those sections will survive any expiration or termination of this Agreement.

		
	13.

	INSURANCE

13.1 In General. Developer will maintain sufficient insurance coverage to enable it to meet its obligations created by this Agreement and by law. Without limiting the foregoing, Developer will obtain the following lines of coverage to the extent this Agreement creates exposures generally covered by these insurance policies: Commercial General Liability with minimum limits of USD $500,000.00 (or its equivalent) per occurrence, Workers’ Compensation (statutory limits), and Employer’s Liability with minimum limits of USD$100,000.00 (or its equivalent) per occurrence. Developer will name Company, its subsidiaries, and the respective directors, officers and employees of Company and its subsidiaries as additional insured’s under such policy to the extent of contractual liability assumed by Developer under this Agreement.

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13.2 Professional Liability/Errors & Omissions Liability Insurance. Developer will maintain Professional Liability/Errors & Omissions Liability insurance with policy limits of not less than USD$1,000,000 or its equivalent for each claim. Such insurance will include coverage for infringement of the proprietary rights of any third party, to the extent reasonably available, including without limitation copyright, trade secret and trademark infringement as related to Developer performance under this Agreement. In addition, such insurance will include coverage for the following personal injuries, unless covered, and not in any way excluded or restricted, by Developer’s general liability insurance: invasion of privacy and advertising injury. Such insurance will include coverage for third party loss of use arising from recall, removal, or withdrawal of products due to Developer’s errors, omissions, or negligent acts. Such insurance will not contain limitations of coverage for claims arising from unauthorized/exceeded access to systems/data or for services rendered over public/private networks. Throughout the term of this Agreement, the Professional Liability/Errors & Omissions Liability insurance’s retroactive coverage date will be no later than the Effective Date of this Agreement. Upon expiration or termination of this Agreement and all Schedules, Developer will either continue to maintain an active insurance policy, or purchase an extended reporting period providing coverage for claims first made and reported to the insurance company within 12 months after the end of this Agreement and all Schedules.

13.3 Waive of Insurance. Company may waive the insurance requirement as provided in Section13 at its sole discretion.

		
	14.

	TAXES

14.1 Developer Responsibility for Taxes. The amounts to be paid by Company to Developer herein do not include any value-added tax, business tax or any other indirect and direct taxes arising as a result of or in connection with the transactions contemplated under this Agreement. To the extent applicable, Developer agrees to pay all applicable taxes levied on it by a duly constituted and authorized taxes authority on the transactions covered under this Agreement. To the extent required by any such taxing authority , Developer may collect such taxes, if any, from Company solely based on the amounts payable under this Agreement (such taxes the “Collected Taxes”), and in such case, company shall remit to Company official tax certificates indicating that such taxes have been collected by Developer and submitted to the appropriate tax authorities. Developer will take such steps as are requested by Company to minimize such Collected Taxes in accordance with all relevant laws and to cooperate with and assist Company, at Company’s request, in challenging the validity of any Collected Taxes or taxes otherwise paid by Company. Developer will equally share the cost of any successful Company-initiated ruling and/or appeal or other determination that concludes that the Collected Taxes are not owed in whole or in part under this Agreement. When Developer receives the payment from Company, Developer should issue formal tax receipts for Company income tax deduction purpose. Developer will indemnify and hold Company harmless from any Collected Taxes, penalties, interest, or additions to tax arising from amounts paid by Company to Developer under this Agreement, that are asserted or assessed against Company to the extent such amounts relate to amounts that are paid to or collected by Developer from Company under this section. If any taxing authority refunds any tax to Developer which Company originally paid to Developer, or Developer otherwise becomes aware that any tax was incorrectly and/or erroneously collected from Company, or Developer otherwise receives an economic benefit (including an audit offset) as the result of incorrectly and/or erroneously receiving Collected Taxes from Company, then Developer will promptly remit to Company an amount equal to such refund, incorrect collection or tax benefit as the case may be, plus any interest thereon.

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14.2 Withholding. If taxes are required to be withheld on any amounts otherwise to be paid by Company to Developer, Company may deduct such taxes from the amount otherwise owed and pay them to the appropriate taxing authority. At Developer’s written request and expense, Company will use reasonable efforts to cooperate with and assist Developer in obtaining tax certificates or other appropriate documentation, evidencing such payment, provided, however, that the responsibility for such documentation will remain with Developer.

14.3 Developer Employees. The parties agree that any workers who are engaged by Developer and perform Work (“Workers”) will be employees of Developer and not of Company or its subsidiaries for all purposes, including without limitation workers’ compensation, taxes, compensation and employee benefits. Developer will make all applicable employment and payroll tax withholdings and payments with respect to such Workers’ compensation, and Company will not be responsible to provide the Workers with any compensation or employee benefits. 

 

		
	15.

	MISCELLANEOUS

15.1 Independent Contractor. Developer is an independent contractor for Company. Nothing in this Agreement will be construed as creating an employer-employee relationship, partnership or joint venture, as a guarantee of future employment or projects, as a limitation upon Company’s sole discretion to terminate this Agreement at any time without cause, or as creating an exclusive relationship or minimum commitment. Developer is not authorized to assume, create or incur any liability on behalf of Company.

15.2 Notices. All notices and requests in connection with this Agreement will be deemed given as of the day they are received either by messenger, delivery service, or in the United States of America mails, postage prepaid, certified or registered, return receipt requested, and addressed to those contained in this Agreement or such other address as the party to receive the notice or request so designates by written notice to the other.

15.3 Assignment. Developer may not assign this Agreement, or any rights or obligations hereunder, whether by operation of contract, law or otherwise, except with the express written consent of Company, and any attempted assignment by Developer in violation of this section will be void. For purposes of this Agreement, an “assignment” by Developer under this section will be deemed to include, without limitation, each of the following: (a) a change in beneficial ownership of Developer of greater than twenty percent (20%) (whether in a single transaction or series of transactions) if Developer is a partnership, trust, limited liability company or other like entity; (h) a merger of Developer with another party, whether or not Developer is the surviving entity; (c) the acquisition of more than twenty percent (20%) of any class of Developer’s voting stock (or any class of non-voting security convertible into voting stock) by another party (whether in a single transaction or series of transactions); and (d) the sale or other transfer of more than fifty percent (50%) of Developer’s assets (whether in a single transaction or series of transactions). In the event of such assignment or attempted assignment by Developer, Company will have the right to immediately terminate this Agreement.

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15.4 Governing Law and Forum. This Agreement will be construed and controlled by the laws of the State of New York, United States of America, without reference to the conflicts of law provisions thereof. All disputes arising out of this Agreement will be subject to the exclusive jurisdiction of either the state or federal courts located in New York, New York, United States of America.  

15.5 Construction. This Agreement does not constitute an offer by Company and it will not be effective until signed by both parties. This Agreement (including any Schedules) constitutes the entire agreement between the parties with respect to the Work and all other subject matter hereof and merges all prior and contemporaneous communications. It may not be modified except by a written agreement signed on behalf of Developer and Company by their respective duly authorized representatives. Any party’s delay or failure to require performance of any provision of this Agreement will not in any way diminish or prejudice the right of such party to require performance of that provision, and any waiver by a party of a breach of any provision of this Agreement will not be construed as a waiver of any subsequent breach of this Agreement. If any provision of this Agreement is found to be invalid or unenforceable, then it will be enforced to the maximum extent permitted to effectuate its original purpose, and the remainder of this Agreement will remain in full force and effect.

IN WITNESS WHEREOF, intending to be legally bound by the terms of this Agreement, have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date.

OVERTECH CORP.

MURAD GUSEINOV

By: /s/ Pavel Rozum    

            /s/ Murad Guseinov

Name:  Pavel Rozum                                      Name:  Muras Gusinov

Title: President

Date: August 22, 2013

Date: August 22, 2013

12Exhibit 4.1

 

 

EXECUTION COPY

 

 

 

 

 

 

 

UNITED STATES CELLULAR CORPORATION

 

AND

 

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

 

AS TRUSTEE

 

-------

 

INDENTURE 

for
Subordinated Debt Securities

 

Dated as of September 16, 2013

 

 

 

 

	
  TABLE OF CONTENTS

  
	
    

  	
    

  	
    

  
	
  CROSS-REFERENCE TABLE

  
	
    

  	
    

  	
    

  
	
  Section of Trust Indenture Act of 1939,
  as amended

  	
    

  	
  Section of Indenture

  
	
  310(a) 

  	
    

  	
  7.09 

  
	
  310(b) 

  	
    

  	
  7.08 

  
	
  310(b)

  	
    

  	
  7.10 

  
	
  311(a) 

  	
    

  	
  7.13 

  
	
  311(b) 

  	
    

  	
  7.13 

  
	
  312(a) 

  	
    

  	
  5.01 

  
	
  312(a)

  	
    

  	
  5.02(a) 

  
	
  312(b) 

  	
    

  	
  5.05 

  
	
  312(c) 

  	
    

  	
  5.05 

  
	
  313(a) 

  	
    

  	
  5.04(a) 

  
	
  313(b) 

  	
    

  	
  5.04(a) 

  
	
  313(c) 

  	
    

  	
  5.04(a) 

  
	
  313(d) 

  	
    

  	
  5.04(b)  

  
	
  314(a) 

  	
    

  	
  5.03 

  
	
  314(b) 

  	
    

  	
  Inapplicable 

  
	
  314(c) 

  	
    

  	
  13.06(a) 

  
	
  314(d) 

  	
    

  	
  Inapplicable 

  
	
  314(e) 

  	
    

  	
  13.06(b) 

  
	
  314(f) 

  	
    

  	
  Inapplicable

  
	
  315(a) 

  	
    

  	
  7.01(a)

  
	
  315(a)

  	
    

  	
  7.02 

  
	
  315(b) 

  	
    

  	
  6.07 

  
	
  315(c) 

  	
    

  	
  7.01(a)

  
	
  315(d) 

  	
    

  	
  7.01(b)

  
	
  315(e) 

  	
    

  	
  6.08 

  
	
  316(a) 

  	
    

  	
  6.06 

  
	
  316(a)

  	
    

  	
  8.04 

  
	
  316(b) 

  	
    

  	
  6.04 

  
	
  316(c) 

  	
    

  	
  8.01 

  
	
  317(a) 

  	
    

  	
  6.02 

  
	
  317(b) 

  	
    

  	
  4.03 

  
	
  318(a) 

  	
    

  	
  13.08 

  

 

 

 

  

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  This Table of
  Contents does not constitute part of the Indenture and should not have any
  bearing upon the interpretation of any of its terms or provisions.

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
  ARTICLE I.
  DEFINITIONS

  	
    

  	
  2 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 1.01.
  Certain defined terms

  	
    

  	
  2 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE II.
  ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

  	
    

  	
  7 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.01.
  Designation, Terms, Amount, Authentication and Delivery of Securities

  	
    

  	
  7 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.02.
  Form of Security and Trustee’s Certificate

  	
    

  	
  10 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.03.
  Date and Denominations of Securities, and Provisions for Payment of
  Principal, Premium and Interest

  	
    

  	
  10 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.04.
  Execution of Securities

  	
    

  	
  12 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.05.
  Exchange of Securities

  	
    

  	
  13 

  
	
    

  	
    

  	
  (a)

  	
  Registration
  and Transfer of Securities

  	
    

  	
  13 

  
	
    

  	
    

  	
  (b)

  	
  Security
  Register; Securities to be Accompanied by Proper Instruments of Transfer

  	
    

  	
  13 

  
	
    

  	
    

  	
  (c)

  	
  Charges upon
  Exchange, Transfer or Registration of Securities

  	
    

  	
  13 

  
	
    

  	
    

  	
  (d)

  	
  Restrictions on
  Transfer or Exchange at Time of Redemption

  	
    

  	
  13 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.06.
  [Reserved]

  	
    

  	
  14 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.07.
  Mutilated, Destroyed, Lost or Stolen Securities

  	
    

  	
  14 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.08.
  Cancellation of Surrendered Securities

  	
    

  	
  15 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.09.
  Provisions of Indenture and Securities for Sole Benefit of Parties and
  Securityholders

  	
    

  	
  15 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.10.
  [Reserved]

  	
    

  	
  15 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.11.
  Global Security

  	
    

  	
  15 

  
	
    

  	
    

  	
  (a)

  	
  Authentication
  and Delivery; Legend

  	
    

  	
  15 

  
	
    

  	
    

  	
  (b)

  	
  Transfer of
  Global Security

  	
    

  	
  15 

  
	
    

  	
    

  	
  (c)

  	
  Issuance of
  Securities in Definitive Form

  	
    

  	
  16 

  
	
    

  	
    

  	
  (d)

  	
  Grant of
  Proxies by Holder of Global Note

  	
    

  	
  16 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.12.
  Payment in Proper Currency

  	
    

  	
  16 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 2.13.
  Identification of Securities

  	
    

  	
  17 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE III.
  REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

  	
    

  	
  17 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 3.01.
  Redemption of Securities

  	
    

  	
  17 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 3.02.
  Action to Redeem Securities

  	
    

  	
  17 

  
	
    

  	
    

  	
  (a)

  	
  Notice of
  Redemption

  	
    

  	
  17 

  
	
    

  	
    

  	
  (b)

  	
  Notice to
  Trustee of Securities to be Redeemed

  	
    

  	
  18 

  

ii 

 

 

 

 

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
    

  	
  SECTION 3.03.
  Payment of Securities Called for Redemption

  	
    

  	
  18 

  
	
    

  	
    

  	
  (a)

  	
  When Securities
  Called for Redemption become Due and Payable

  	
    

  	
  18 

  
	
    

  	
    

  	
  (b)

  	
  Receipt of New
  Security upon Partial Payment

  	
    

  	
  19 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 3.04.
  Sinking Fund for Securities

  	
    

  	
  19 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 3.05.
  Satisfaction of Sinking Fund Payments with Securities

  	
    

  	
  19 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 3.06.
  Redemption of Securities for Sinking Fund

  	
    

  	
  19 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE IV. PARTICULAR
  COVENANTS OF THE COMPANY

  	
    

  	
  20 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.01.
  Payment of Principal (and Premium if any) and Interest on Securities

  	
    

  	
  20 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.02.
  Maintenance of Office or Agency for Payment, Registration, Transfer and Exchange
  of Securities

  	
    

  	
  20 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.03.
  Paying Agent

  	
    

  	
  20 

  
	
    

  	
    

  	
  (a)

  	
  Duties of
  Paying Agent

  	
    

  	
  20 

  
	
    

  	
    

  	
  (b)

  	
  Company as
  Paying Agent

  	
    

  	
  21 

  
	
    

  	
    

  	
  (c)

  	
  Holding Sums in
  Trust

  	
    

  	
  21 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.04.
  Appointment to Fill Vacancy in Office of Trustee

  	
    

  	
  21 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.05.
  Restriction on Consolidation, Merger of the Company

  	
    

  	
  21 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 4.06.
  Original Issue Discount Security

  	
    

  	
  21 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE V.
  SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  	
    

  	
  22 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 5.01.
  Company to Furnish Trustee Information as to Names and Addresses of
  Securityholders

  	
    

  	
  22 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 5.02.
  Responsibilities of Trustee Relating to Securityholder Information

  	
    

  	
  22 

  
	
    

  	
    

  	
  (a)

  	
  Trustee to
  Preserve Information as to Names and Addresses of Securityholders

  	
    

  	
  22 

  
	
    

  	
    

  	
  (b)

  	
  Trustee may
  Destroy List of Securityholders on Certain Conditions

  	
    

  	
  22 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 5.03.
  Delivery Obligations of Company

  	
    

  	
  22 

  
	
    

  	
    

  	
  (a)

  	
  Annual and Other
  Reports to be Filed by Company with Trustee

  	
    

  	
  22 

  
	
    

  	
    

  	
  (b)

  	
  Additional
  Information and Reports to be Filed with Trustee and Securities and Exchange
  Commission

  	
    

  	
  23 

  
	
    

  	
    

  	
  (c)

  	
  Summaries of
  Information and Reports to be Transmitted by Company to Securityholders

  	
    

  	
  23 

  
	
    

  	
    

  	
  (d)

  	
  Annual
  Certificate to be Furnished to Trustee

  	
    

  	
  23 

  
	
    

  	
    

  	
  (e)

  	
  Effect of
  Delivery to Trustee

  	
    

  	
  23 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 5.04.
  Delivery Obligations of Trustee

  	
    

  	
  23 

  
	
    

  	
    

  	
  (a)

  	
  Trustee to
  Transmit Annual Report to Securityholders

  	
    

  	
  23 

  
	
    

  	
    

  	
  (b)

  	
  Copies of
  Reports to be Filed with Stock Exchanges and Securities and Exchange
  Commission

  	
    

  	
  23 

  

iii 

 

 

 

 

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
    

  	
  SECTION 5.05.
  Communication between Holders

  	
    

  	
  24 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE VI. REMEDIES
  OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

  	
    

  	
  24 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.01.
  Events of Default

  	
    

  	
  24 

  
	
    

  	
    

  	
  (a)

  	
  Events of
  Default Defined

  	
    

  	
  24 

  
	
    

  	
    

  	
  (b)

  	
  Acceleration of
  Maturity upon Event of Default

  	
    

  	
  25 

  
	
    

  	
    

  	
  (c)

  	
  Waiver of
  Default and Rescission of Declaration of Maturity

  	
    

  	
  25 

  
	
    

  	
    

  	
  (d)

  	
  Restoration of
  Former Position and Rights upon Curing Default

  	
    

  	
  26 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.02.
  Rights of Trustee upon Default

  	
    

  	
  26 

  
	
    

  	
    

  	
  (a)

  	
  Covenant of
  Company to Pay to Trustee Whole Amount due on Securities on Default in
  Payment of Interest or Principal (and Premium, if any)

  	
    

  	
  26 

  
	
    

  	
    

  	
  (b)

  	
  Trustee may
  Recover Judgment for Whole Amount due on Securities on Failure of Company to
  Pay

  	
    

  	
  26 

  
	
    

  	
    

  	
  (c)

  	
  Proof of Claim
  by Trustee in Bankruptcy, Reorganization or Receivership Proceeding

  	
    

  	
  26 

  
	
    

  	
    

  	
  (d)

  	
  Rights of
  Action and of Asserting Claims may be Enforced by Trustee without Possession
  of Securities

  	
    

  	
  27 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.03.
  Application of Monies Collected by Trustee

  	
    

  	
  27 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.04.
  Limitation on Suits by Holders of Securities

  	
    

  	
  28 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.05.
  Remedies; Delay or Omission in Exercise of Rights

  	
    

  	
  28 

  
	
    

  	
    

  	
  (a)

  	
  Remedies
  Cumulative

  	
    

  	
  28 

  
	
    

  	
    

  	
  (b)

  	
  Delay or
  Omission in Exercise of Rights not Waiver of Default

  	
    

  	
  28 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.06.
  Rights of Holders of Majority in Principal Amount of Securities to Direct
  Trustee and to Waive Defaults

  	
    

  	
  29 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.07.
  Notice of Known Defaults

  	
    

  	
  29 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 6.08.
  Undertaking to Pay Costs in Certain Suits under Indenture or Against Trustee

  	
    

  	
  30 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE VII.
  CONCERNING THE TRUSTEE

  	
    

  	
  30 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.01.
  Certain Duties and Responsibilities of Trustee

  	
    

  	
  30 

  
	
    

  	
    

  	
  (a)

  	
  Upon Event of
  Default

  	
    

  	
  30 

  
	
    

  	
    

  	
  (b)

  	
  Negligence or
  Willful Misconduct by Trustee

  	
    

  	
  30 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.02.
  Certain Rights of Trustee

  	
    

  	
  31 

  
	
    

  	
    

  	
  (a)

  	
  Trustee
  Reliance on Documents

  	
    

  	
  31 

  
	
    

  	
    

  	
  (b)

  	
  Evidence
  Provided for Certain Instruments

  	
    

  	
  32 

  
	
    

  	
    

  	
  (c)

  	
  Trustee may
  Consult with Counsel and Act on Advice or Opinion of Counsel

  	
    

  	
  32 

  
	
    

  	
    

  	
  (d)

  	
  Trustee may
  Require Indemnity from Securityholders

  	
    

  	
  32 

  
	
    

  	
    

  	
  (e)

  	
  Trustee not
  Liable for Actions in Good Faith Believed to be Authorized

  	
    

  	
  32 

  

iv 

 

 

 

 

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
    

  	
    

  	
  (f)

  	
  Trustee not
  Bound to Investigate Facts or Matters

  	
    

  	
  32 

  
	
    

  	
    

  	
  (g)

  	
  Trustee may
  Perform Duties Directly or through Agents or Attorneys

  	
    

  	
  32 

  
	
    

  	
    

  	
  (h)

  	
  Permissive
  Rights of Trustee

  	
    

  	
  33 

  
	
    

  	
    

  	
  (i)

  	
  Trustee Not
  Responsible or Liable for Special, Indirect or Consequential Losses or
  Damages

  	
    

  	
  33 

  
	
    

  	
    

  	
  (j)

  	
  Enforcement by
  Trustee

  	
    

  	
  33 

  
	
    

  	
    

  	
  (k)

  	
  Certificate of
  Authorized Persons

  	
    

  	
  33 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.03.
  Limitations in Liability of Trustee

  	
    

  	
  33 

  
	
    

  	
    

  	
  (a)

  	
  Trustee not
  Liable for Recitals in Indenture or in Securities

  	
    

  	
  33 

  
	
    

  	
    

  	
  (b)

  	
  No
  Representations by Trustee as to Validity or Indenture or of Securities

  	
    

  	
  33 

  
	
    

  	
    

  	
  (c)

  	
  Trustee not
  Accountable for Use of Securities or Proceeds

  	
    

  	
  33 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.04.
  Trustee, Paying Agent or Security Registrar may Own Securities

  	
    

  	
  33 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.05.
  Monies Received by Trustee to be Held in Trust without Interest

  	
    

  	
  33 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.06.
  Compensation and Reimbursement of Trustee

  	
    

  	
  34 

  
	
    

  	
    

  	
  (a)

  	
  Trustee
  Entitled to Compensation, Reimbursement and Indemnity

  	
    

  	
  34 

  
	
    

  	
    

  	
  (b)

  	
  Obligations to
  Trustee to be Secured by Lien prior to Securities

  	
    

  	
  34 

  
	
    

  	
    

  	
  (c)

  	
  Nature of
  Expenses

  	
    

  	
  34 

  
	
    

  	
    

  	
  (d)

  	
  Survival of
  Obligations

  	
    

  	
  34 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.07.
  Trustee May Rely on Certificate of Officers of Company

  	
    

  	
  34 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.08.
  Trustee Must Eliminate Conflict or Resign

  	
    

  	
  35 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.09.
  Requirements for Eligibility of Trustee

  	
    

  	
  35 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.10.
  Trustee

  	
    

  	
  35 

  
	
    

  	
    

  	
  (a)

  	
  Resignation of
  Trustee and Appointment of Successor

  	
    

  	
  35 

  
	
    

  	
    

  	
  (b)

  	
  Removal of
  Trustee by Company or by Court on Securityholders’ Application

  	
    

  	
  35 

  
	
    

  	
    

  	
  (c)

  	
  Removal of
  Trustee by Holders of Majority in Principal Amount of Securities

  	
    

  	
  36 

  
	
    

  	
    

  	
  (d)

  	
  Time when
  Resignation or Removal of Trustee Effective

  	
    

  	
  36 

  
	
    

  	
    

  	
  (e)

  	
  One Trustee for
  each Series

  	
    

  	
  36 

  
	
    

  	
    

  	
  (f)

  	
  Removal of
  Trustee by the Company

  	
    

  	
  36 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.11.
  Successor Trustee

  	
    

  	
  36 

  
	
    

  	
    

  	
  (a)

  	
  Acceptance by
  Successor Trustee

  	
    

  	
  36 

  
	
    

  	
    

  	
  (b)

  	
  Trustee with
  Respect to Less than all Series

  	
    

  	
  37 

  
	
    

  	
    

  	
  (c)

  	
  Company to
  Confirm Trustee’s Rights

  	
    

  	
  37 

  
	
    

  	
    

  	
  (d)

  	
  Successor
  Trustee to be Qualified

  	
    

  	
  37 

  
	
    

  	
    

  	
  (e)

  	
  Notice of
  Succession

  	
    

  	
  37 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.12.
  Successor to Trustee by Merger, Consolidation of Succession to Business

  	
    

  	
  38 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 7.13.
  Limitations on Rights of Trustee as a Creditor to Obtain Payment of Certain
  Claims

  	
    

  	
  38 

  

v 

 

 

 

 

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
  ARTICLE VIII.
  CONCERNING THE SECURITYHOLDERS

  	
    

  	
  38 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 8.01.
  Evidence of Action by Securityholders

  	
    

  	
  38 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 8.02.
  Proof of Execution of Instruments and of Holding of Securities

  	
    

  	
  39 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 8.03.
  Who may be Deemed Owners of Securities

  	
    

  	
  39 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 8.04.
  Securities Owned by Company or Affiliated Persons Disregarded for Certain
  Purposes

  	
    

  	
  39 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 8.05.
  Instruments Executed by Securityholders Binding on Future Holders

  	
    

  	
  40 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE IX.
  SUPPLEMENTAL INDENTURES

  	
    

  	
  40 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 9.01.
  Supplemental Indenture Without Consent of Securityholders

  	
    

  	
  40 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 9.02.
  Supplemental Indenture with Consent of Securityholders

  	
    

  	
  43 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 9.03.
  Effect of Supplemental Indentures

  	
    

  	
  44 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 9.04.
  Securities may Bear Notation of Changes by Supplemental Indentures

  	
    

  	
  44 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 9.05.
  Opinion of Counsel and Officers’ Certificate

  	
    

  	
  44 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE X. CONSOLIDATION,
  MERGER AND SALE

  	
    

  	
  44 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 10.01.
  Consolidations or Mergers of Company and Sales or Conveyances of Property of
  Company

  	
    

  	
  44 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 10.02.
  Successor to Company

  	
    

  	
  45 

  
	
    

  	
    

  	
  (a)

  	
  Rights and
  Duties of Successor Company

  	
    

  	
  45 

  
	
    

  	
    

  	
  (b)

  	
  Appropriate
  Changes may be made in Phraseology and Form of Securities

  	
    

  	
  45 

  
	
    

  	
    

  	
  (c)

  	
  Company may
  Consolidate or Merge into Itself or Acquire Properties of Other Corporations

  	
    

  	
  45 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 10.03.
  Opinion of Counsel

  	
    

  	
  45 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE XI.
  DEFEASANCE AND CONDITIONS TO DEFEASANCE; UNCLAIMED MONIES

  	
    

  	
  46 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 11.01.
  Defeasance and Conditions to Defeasance

  	
    

  	
  46 

  
	
    

  	
    

  	
  (a)

  	
  Securities may
  be Defeased

  	
    

  	
  46 

  
	
    

  	
    

  	
  (b)

  	
  Covenant and
  Legal Defeasance

  	
    

  	
  46 

  
	
    

  	
    

  	
  (c)

  	
  Conditions for
  Defeasance

  	
    

  	
  46 

  
	
    

  	
    

  	
  (d)

  	
  Event of
  Default Following Covenant Defeasance

  	
    

  	
  47 

  
	
    

  	
    

  	
  (e)

  	
  Effect of
  Defeasance

  	
    

  	
  47 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 11.02.
  Application by Trustee of Funds Deposited for Payment of Securities

  	
    

  	
  47 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 11.03.
  Repayment of Monies held by Paying Agent

  	
    

  	
  47 

  

vi 

 

 

 

 

	
  TABLE OF CONTENTS

  
	
  (Continued)

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
  Page

  
	
    

  	
  SECTION 11.04.
  Repayment of Monies held by Trustee

  	
    

  	
  47 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 11.05.
  Delivery of Officer’s Certificate and Opinion of Counsel

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE XII.
  IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 12.01.
  Incorporators, Stockholders, Officers and Directors of Company Exempt from
  Individual Liability

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE XIII.
  MISCELLANEOUS PROVISIONS

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.01.
  Successors and Assigns of Company Bound by Indenture

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.02.
  Acts of Board, Committee or Officer of Successor Company

  	
    

  	
  48 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.03.
  Headings

  	
    

  	
  49 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.04.
  Notices

  	
    

  	
  49 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.05.
  Governing Law

  	
    

  	
  49 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.06.
  Officers’ Certificate and Opinion of Counsel

  	
    

  	
  49 

  
	
    

  	
    

  	
  (a)

  	
  When Required

  	
    

  	
  49 

  
	
    

  	
    

  	
  (b)

  	
  Statements to
  be Included in each Certificate or Opinion

  	
    

  	
  49 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.07.
  Payments Due on Non-Business Days

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.08.
  Provisions Required by Trust Indenture Act of 1939

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.09.
  Execution in Counterparts

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.10.
  Separability of Indenture Provisions

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.11.
  Successors and Assigns

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.12.
  Securities in Foreign Currencies

  	
    

  	
  50 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.13.
  Treatment of the Securities as Debt

  	
    

  	
  51 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.14.
  Waiver of Jury Trial

  	
    

  	
  51 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 13.15.
  Force Majeure

  	
    

  	
  51 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
  ARTICLE XIV.
  SUBORDINATION OF SECURITIES

  	
    

  	
  51 

  
	
    

  	
    

  	
    

  	
    

  	
    

  	
    

  
	
    

  	
  SECTION 14.01.
  Subordination Terms

  	
    

  	
  51 

  

vii 

 

 

 

INDENTURE

 

THIS
INDENTURE, dated as of the 16th day of September, 2013, between UNITED STATES
CELLULAR CORPORATION, a corporation duly organized and existing under the laws
of the State of Delaware (hereinafter sometimes referred to as the “Company”),
and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. a national banking
association, as trustee (hereinafter sometimes referred to as the “Trustee”): 

 

WHEREAS,
for its lawful corporate purposes, the Company has duly authorized the
execution and delivery of this Indenture to provide for the issuance of
unsecured promissory notes or other evidences of indebtedness (hereinafter referred
to as the “Securities”), in an unlimited aggregate principal amount to be
issued from time to time in one or more series as in this Indenture provided,
as registered Securities without coupons, to be manually authenticated by the
certificate of the Trustee, and which will be subordinated to the extent set
forth in an indenture supplemental hereto relating to such Securities; 

 

WHEREAS,
to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the
execution of this Indenture; 

 

WHEREAS,
the Securities and the certificate of authentication to be borne by the
Securities (the “Certificate of Authentication”) are to be substantially in
such forms as may be approved by a Company Order (as defined below), or set
forth in this Indenture or in any indenture supplemental to this Indenture; 

 

AND
WHEREAS, all acts and things necessary to make the Securities issued pursuant
hereto, when executed by the Company and authenticated and delivered by the
Trustee as in this Indenture provided, the valid, binding and legal obligations
of the Company, and to constitute these presents a valid indenture and
agreement according to its terms, have been done and performed or will be done
and performed prior to the issuance of such Securities, and the execution of
this Indenture has been and the issuance hereunder of the Securities has been
or will be prior to issuance in all respects duly authorized, and the Company,
in the exercise of the legal right and power in it vested, executes this
Indenture and proposes to make, execute, issue and deliver the Securities; 

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 

 

That
in order to declare the terms and conditions upon which the Securities are and
are to be authenticated, issued and delivered, and in consideration of the
premises, of the purchase and acceptance of the Securities by the holders
thereof and of the sum of one dollar ($1.00) to it duly paid by the Trustee at
the execution of these presents, the receipt whereof is hereby acknowledged,
the Company covenants and agrees with the Trustee, for the equal and
proportionate benefit (subject to the provisions of this Indenture) of the
respective holders from time to time of the Securities, without any
discrimination, preference or priority of any one Security over any other by
reason of priority in the time of issue, sale or negotiation thereof, or
otherwise, except as provided herein, as follows: 

 

 

 

 

 

ARTICLE I.

DEFINITIONS 

 

SECTION
1.01.  Certain defined terms. The terms defined in this Section (except
as in this Indenture otherwise expressly provided or unless the context
otherwise requires) for all purposes of this Indenture, any Company Order, any
Board Resolution, and any indenture supplemental hereto shall have the
respective meanings specified in this Section.  All other terms used in this
Indenture which are defined in the Trust Indenture Act of 1939, as amended, or
which are by reference in such Act defined in the Securities Act of 1933, as
amended (except as herein otherwise expressly provided or unless the context
otherwise requires), shall have the meanings assigned to such terms in said
Trust Indenture Act and in said Securities Act as in force at the date of the
execution of this instrument.  

 

Affiliate 

The term “Affiliate” shall have the meaning set forth
in the Securities Act of 1933, as amended.  

 

Authorized Officer

The term “Authorized Officer” shall mean the Chairman,
the President, any Vice President, the Treasurer or any other officer or agent
of the Company duly authorized by the Board of Directors to act in respect of
matters relating to this Indenture.

 

Board of Directors or Board

The term “Board of Directors” or “Board” shall mean
the Board of Directors of the Company, or any duly authorized committee of such
Board.

 

Board Resolution

The term “Board Resolution” shall mean 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 Directors and to be in full force and
effect on the date of such certification.

 

Business Day

The term “Business Day”, with respect to any Security,
shall mean any day that (a) in the Place of Payment (or in any of the Places of
Payment, if more than one) in which amounts are payable as specified in the
form of such Security and (b) in the city in which the Trustee administers its
corporate trust business, is not a day on which banking institutions are
authorized or required by law or regulation to close.

 

Certificate

The term “Certificate” shall mean a certificate signed
by an Authorized Officer.   The Certificate need not comply with the provisions
of Section 13.06.

2 

 

 

 

 

Commission

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

 

Company

The term “Company” shall mean United States Cellular
Corporation, a corporation duly organized and existing under the laws of
Delaware, and, subject to the provisions of Article Ten, shall also include its
successors and assigns.

 

Company Order

The term “Company Order” shall mean a written order
signed in the name of the Company by an Authorized Officer and the Secretary or
an Assistant Secretary of the Company, pursuant to a Board Resolution
establishing a series of Securities.

 

Corporate Trust Office

The term “Corporate Trust Office” shall mean an office
of the Trustee at which at any particular time its corporate trust business
shall be administered, which office at the date of the execution of this
Indenture is located at 2 North LaSalle Street, Suite 1020, Chicago, IL 60602,
or such other address as the Trustee may designate from time to time by notice
to the Holders and the Company, or the principal corporate trust office of any
successor Trustee. 

 

Default

The term “Default” shall mean any event, act or
condition which with notice or lapse of time, or both, would constitute an
Event of Default.

 

Depository

The term “Depository” shall mean, with respect to
Securities of any series, for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company,
New York, New York, another clearing agency, or any successor registered as a
clearing agency under the Exchange Act or other applicable statute or
regulation, which, in each case, shall be designated by the Company pursuant to
either Section 2.01 or 2.11.

 

Dollar

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

 

3 

 

 

 

 

Eligible Obligations

The term “Eligible Obligations” means (a) with respect
to Securities denominated in Dollars, Governmental Obligations; or (b) with
respect to Securities denominated in a currency other than Dollars or in a
composite currency, such other obligations or instruments as shall be specified
with respect to such Securities, as contemplated by Section 2.01.

 

Event of Default

The term “Event of Default” with respect to Securities
of a particular series shall mean any event specified in Section 6.01,
continued for the period of time, if any, therein designated.

 

Global Security

The term “Global Security” shall mean, with respect to
any series of Securities, a Security executed by the Company and authenticated
and delivered by the Trustee to the Depository or pursuant to the Depository’s
instruction, all in accordance with the Indenture, which shall be registered in
the name of the Depository or its nominee.

 

Governmental Authority

The term “Governmental Authority” means the government
of the United States or of any State or Territory thereof or of the District of
Columbia or of any county, municipality or other political subdivision of any
of the foregoing, or any department, agency, authority or other instrumentality
of any of the foregoing.

 

Governmental Obligations

The term “Governmental Obligations” shall mean
securities that are (i) direct obligations of the United States of America 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, the payment of which is unconditionally
guaranteed as a full faith and credit obligation by the United States, which,
in either case, are not callable or redeemable at the option of the issuer
thereof, and shall also include a depository receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as
custodian with respect to any such Governmental Obligation or a specific
payment of principal of or interest on any such Governmental Obligation held by
such custodian for the account of the holder of such depository receipt;
provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depository
receipt from any amount received by such custodian in respect of the
Governmental Obligation or the specific payment of principal of or interest on
the Governmental Obligation evidenced by such depository receipt.

 

Indenture

The term “Indenture” shall mean this instrument as
originally executed, or, if amended or supplemented as herein provided, as so
amended or supplemented, and shall include the terms of a particular series of
Securities established as contemplated by Section 2.01.

 

4 

 

 

 

 

Instructions

The term “Instructions” shall mean instructions
acceptable to the Trustee issued pursuant to a Company Order in connection with
a Periodic Offering and signed by an Authorized Officer. 

 

Interest

The term “interest” when used with respect to
non-interest bearing Securities shall mean interest payable after maturity
(whether at stated maturity, upon acceleration or redemption or otherwise) or
after the date, if any, on which the Company becomes obligated to acquire a
Security, whether by purchase or otherwise.

 

Interest Payment Date

The term “Interest Payment Date” when used with
respect to any installment of interest on a Security of a particular series
shall mean the date specified in such Security or in a Board Resolution, Company
Order or an indenture supplemental hereto with respect to such series as the
fixed date on which an installment of interest with respect to Securities of
that series is due and payable.

 

Officers’ Certificate

The term “Officers’ Certificate” shall mean a
certificate signed by an Authorized Officer and by the Secretary or Assistant
Secretary of the Company.  Each such certificate shall include the statements
provided for in Section 13.06, if and to the extent required by the provisions
hereof.

 

Opinion of Counsel

The term “Opinion of Counsel” shall mean an opinion in
writing signed by legal counsel, who may be the General Counsel of or counsel
for the Company.  Each such opinion shall include the statements provided for
in Section 13.06, if and to the extent required by the provisions hereof.

 

Original Issue Discount Security

The term “Original Issue Discount Security” means any
Security which (i) is issued at a price lower than the amount payable upon the
maturity thereof and (ii) provides for an amount less than the principal amount
thereof to be due and payable upon a declaration of acceleration of the
maturity thereof pursuant to Section 6.01(b).

 

Outstanding

The term “outstanding”, when used with reference to
Securities of any series, shall, subject to the provisions of Section 8.04,
mean, as of any particular time, all Securities of that series theretofore
authenticated and delivered by the Trustee under this Indenture, except (a)
Securities theretofore canceled by the Trustee or any paying agent, or delivered
to the Trustee or any paying agent for cancellation or which have previously
been canceled; (b) Securities or portions thereof for the payment or redemption
of which monies or Eligible Obligations in the 

5 

 

 

 

 

necessary
amount shall have been deposited in trust with the Trustee or with any paying
agent (other than the Company) or shall have been set aside and segregated in
trust by the Company (if the Company shall act as its own paying agent);
provided, however, that if such Securities or portions of such Securities are
to be redeemed prior to the maturity thereof, notice of such redemption shall
have been given as in Article Three provided, or provision satisfactory to the
Trustee shall have been made for giving such notice; and (c) Securities in lieu
of or in substitution for which other Securities shall have been authenticated
and delivered pursuant to the terms of Section 2.07.  The principal amount of
an Original Issue Discount Security that shall be deemed to be Outstanding for
purposes of this Indenture shall be the amount of the principal thereof that
would be due and payable as of the date of such determination upon a
declaration of acceleration of the maturity thereof.

 

Periodic Offering

The term “Periodic Offering” means an offering of
Securities of a series from time to time, during which any or all of the
specific terms of the Securities, including without limitation the rate or
rates of interest, if any, thereon, the maturity or maturities thereof and the
redemption provisions, if any, with respect thereto, are to be determined by
the Company or its agents upon the issuance of such Securities.

 

Person

The term “person” means any individual, corporation,
partnership, limited liability company, joint venture, trust or unincorporated organization
or any Governmental Authority.

 

Place of Payment

The term “Place of Payment” shall mean the place or
places where the principal of and interest, if any, on the Securities of any
series are payable as specified in accordance with Section 2.01.

 

Predecessor Security

The term “Predecessor Security” of any particular
Security shall mean every previous Security evidencing all or a portion of the
same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 2.07
in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the
same debt as the lost, destroyed or stolen Security.

 

Responsible Officer

The term “Responsible Officer” when used with respect
to the Trustee shall mean the chairman, the president, any vice president, the
secretary, the treasurer, any trust officer, any corporate trust officer or any
other officer or assistant officer of the Trustee customarily performing
functions similar to those performed by the persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred
because of his or her knowledge of and familiarity with the particular subject
and who shall have direct responsibility for the administration of this
Indenture.

 

6 

 

 

 

 

Security or Securities

The term “Security” or “Securities” shall mean any
Security or Securities, as the case may be, authenticated and delivered under
this Indenture.

 

Securityholder

The term “Securityholder”, “holder of Securities” or
“registered holder” shall mean the person or persons in whose name or names a
particular Security shall be registered on the books of the Company kept for
that purpose in accordance with the terms of this Indenture.

 

series

The term “series” means a series of Securities
established pursuant to this Indenture and includes, if the context so
requires, each Tranche thereof.

 

Tranche

The term “Tranche” means Securities which (a) are of
the same series and (b) have identical terms except as to terms that may vary
as specified in a Company Order or supplemental indenture.

 

Trustee

The term “Trustee” shall mean The Bank of New York
Mellon Trust Company, N.A., and, subject to the provisions of Article Seven,
shall also include its successors and assigns, and, if at any time there is
more than one person acting in such capacity hereunder, “Trustee” shall mean
each such person.  The term “Trustee” as used with respect to a particular
series of the Securities shall mean the trustee with respect to that series.

 

Trust Indenture Act

The term “Trust Indenture Act”, subject to the
provisions of Sections 9.01, 9.02, and 10.01, shall mean the Trust Indenture
Act of 1939, as amended and in effect at the date of execution of this
Indenture.

 

United States

The term “United States” means the United States of
America, its territories, its possessions and other areas subject to its
political jurisdiction.

 

 

ARTICLE II.

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

 

SECTION
2.01.  Designation, Terms, Amount,
Authentication and Delivery of Securities. The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is unlimited.

7 

 

 

 

 

The Securities may be issued from time to time in one
or more series and in one or more Tranches thereof.  Each series shall be
authorized by a Company Order or Orders and/or one or more indentures
supplemental hereto, which shall specify whether the Securities of such series
shall be subject to a Periodic Offering.  The Company Order or Orders or
supplemental indenture and, in the case of a Periodic Offering, Instructions or
other procedures acceptable to the Trustee specified in such Company Order or
Orders, shall establish the terms of the series, which may include the
following: 

 

(a)           the title and designation of the Securities and the
series (which shall distinguish the Securities of the series from all other
Securities and which shall include the word “subordinated” or a word of like
meaning);

 

(b)           limitations on the aggregate principal
amount of the Securities to be authenticated and delivered under this Indenture
as part of such series (except for Securities authenticated and delivered upon
registration of transfer of, in exchange for or in lieu of other Securities of
that series); 

 

(c)           the stated maturity or maturities of
such series; 

 

(d)           the date or dates from which interest
shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates and the record
date for the determination of holders to whom interest is payable on any such
Interest Payment Date; 

 

(e)           the interest rate or rates (which may be
fixed or variable), or method of calculation of such rate or rates, for such
series; 

 

(f)            the terms, if any, regarding the
redemption, purchase or repayment of such series (whether at the option of the
Company or a holder of the Securities of such series and whether pursuant to a
sinking fund or analogous provisions, including payments made in cash in
anticipation of future sinking fund obligations), including redemption,
purchase or repayment date or dates of such series, if any, and the price or
prices and other terms and conditions applicable to such redemption, purchase
or repayment (including any premium); 

 

(g)           whether or not the Securities of such
series shall be issued in whole or in part in the form of a Global Security
and, if so, the Depositary for such Global Security and the related procedures
with respect to transfer and exchange of such Global Security; 

 

(h)           the form of the Securities of such
series; 

 

(i)            the maximum annual interest rate, if
any, of the Securities permitted for such series; 

 

(j)            whether the Securities of such series
shall be subject to Periodic Offering; 

 

(k)           the currency or currencies, including
composite currencies, in which payment of the principal of (and premium, if
any) and interest on the Securities of such series shall be payable, if other
than Dollars; 

 

8 

 

 

 

 

(l)            any other information necessary to
complete the Securities of such series; 

 

(m)          the establishment of any office or agency
pursuant to Section 4.02 hereof and any other place or places which the
principal of and interest, if any, on Securities of that series shall be
payable; 

 

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

 

(o)           the obligations or instruments, if any,
which shall be considered to be Eligible Obligations in respect of the
Securities of such series denominated in a currency other than Dollars or in a
composite currency; 

 

(p)           whether or not the Securities of such
series shall be issued as Original Issue Discount Securities and the terms
thereof, including the portion of the principal amount thereof which shall be
payable upon declaration of acceleration of the maturity thereof pursuant to
Section 6.01(b); 

 

(q)           if the principal of and premium, if any,
or interest, if any, on such Securities are to be payable, at the election of
the Company or the holder thereof, in coin or currency, including composite
currencies, other than that in which the Securities are stated to be payable,
the period or periods within which, and the terms and conditions upon which,
such election shall be made; 

 

(r)            if the amount of payment of principal
of and premium, if any, or interest, if any, on such Securities may be
determined with reference to an index, formula or other method, or based on a
coin or currency other than that in which the Securities are stated to be
payable, the manner in which such amount shall be determined; 

 

(s)            any addition to, or modification or
deletion of, any covenants or terms herein, including restrictive covenants or
Events of Default provided for with respect to the Securities of the series;

 

(t)            the terms and conditions, if any,
pursuant to which the Securities of the series are secured;

 

(u)           whether the Securities of the series
will be exchangeable into other securities (including Securities that will be
convertible into other Company securities) and, if so, the terms and conditions
upon which such Securities will be so exchangeable, including whether exchange
is mandatory, at the option of the holder, or at the option of the Company, the
exchange price, the exchange period and any provisions pursuant to which the 
securities to be received by the holders of such series of Securities would be
subject to adjustment; and 

 

(v)           any other terms of such series not
inconsistent with this Indenture, including but not limited to:

 

(A)          the
right, if any, to extend the interest payment periods and the duration of such
extension, 

 

9 

 

 

 

 

(B)          the
subordination terms of the Securities of that series and relative rankings in
priority of payment, 

 

(C)          whether
the Company will have the option to redeem such Securities upon the occurrence
of certain events, including tax events or credit rating agency events, and the
terms of any such option, and

 

(D)          any
deletions from, modifications or additions to the provisions of this Indenture
in respect of the Securities of such series.

 

All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise
be provided in or pursuant to any such Company Order or in any indentures
supplemental hereto.

 

If any of the terms of the series are established by
action taken pursuant to a Company Order, a copy of an appropriate record of
the applicable Board Resolution shall be certified by the Secretary or an
Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Company Order setting forth the terms of that series.

 

SECTION
2.02.  Form of Security and Trustee’s Certificate. The Securities of any
series shall be substantially of the tenor and purport (i) as set forth in one
or more indentures supplemental hereto or as provided in a Company Order, or
(ii) with respect to any Tranche of Securities of a series subject to Periodic
Offering, to the extent permitted by any of the documents referred to in clause
(i) above, in Instructions, and by other procedures acceptable to the Trustee
specified in such Company Order or Orders, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks
of identification or designation and such legends or endorsements printed,
lithographed or engraved 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 Securities of that
series may be listed or of the Depository, or to conform to usage.

 

The Trustee’s Certificate of Authentication shall be
in substantially the following form: 

 

“This is one of the Securities of the series
designated in accordance with, and referred to in, the within-mentioned
Indenture.

 

Dated: 

 

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

 

By:___________________________ 

 

                Authorized Signatory” 

 

SECTION 2.01.   

            SECTION 2.03.  

Date
and Denominations of Securities, and Provisions for Payment of Principal,
Premium and Interest.
Except as otherwise specified as contemplated by Section 2.01, 

 

 

10 

 

 

 

 

the Securities shall be issuable as
registered Securities and in the denominations of $1,000 or any integral
multiple thereof.  Except as otherwise specified as contemplated by Section
2.01, the principal of and the interest on the Securities of any series, as
well as any premium thereon in case of redemption thereof prior to maturity, shall
be payable in Dollars at the office or agency of the Company maintained for
that purpose.  Each Security shall be dated the date of its authentication.

 

The interest installment on any Security which is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date for Securities of that series shall be paid to the person in whose name
said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment,
except that interest payable on redemption or maturity shall be payable as set
forth in the Company Order or indenture supplemental hereto establishing the
terms of such series of Securities.  Except as otherwise specified as
contemplated by Section 2.01, interest on Securities will be computed on the
basis of a 360-day year of twelve 30-day months.

 

Any interest on any Security which is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date for
Securities of the same series (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the registered holder on the relevant regular
record date by virtue of having been such holder; and such Defaulted Interest
shall be paid by the Company, at its election, as provided in clause (1) or
clause (2) below: 

 

(1)           The Company may make payment of any
Defaulted Interest on Securities to the persons in whose names such Securities
(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
Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each such Security and the date of the proposed payment, and at the same time
the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the persons entitled to such Defaulted Interest as in this
clause provided.  Thereupon the Trustee shall fix a special record date for the
payment of such Defaulted Interest which shall not be more than 15 nor less
than 10 days prior to the date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed payment. 
The Trustee shall promptly notify the Company of such special record date and,
in the name and at the expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first class postage prepaid, to each Securityholder at
his or her address as it appears in the Security Register (as hereinafter
defined), not less than 10 days prior to such special record date.  Notice of
the proposed payment of such Defaulted Interest and the special record date
therefor having been mailed as aforesaid, such Defaulted Interest shall be paid
to the persons in whose names such Securities (or their respective Predecessor
Securities) are registered on such special record date and shall be no longer
payable pursuant to the following clause (2).

 

(2)           The Company may make payment of any
Defaulted Interest on any Securities 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, 

11 

 

 

 

 

after notice given by the
Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee.

 

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

 

SECTION 2.04.  Execution
of Securities. The Securities shall be printed or fully or partially
engraved, or legibly typed, as the proper officer of the Company may determine,
and shall be signed on behalf of the Company by an Authorized Officer.  The
signature of such Authorized Officer upon the Securities may be in the form of
a facsimile signature of a present or any future Authorized Officer and may be
imprinted or otherwise reproduced on the Securities and for that purpose the
Company may use the facsimile signature of any person who shall have been an
Authorized Officer, notwithstanding the fact that at the time the Securities
shall be authenticated and delivered or disposed of such person shall have
ceased to be an Authorized Officer.

 

Only such Securities as shall bear thereon a
Certificate of Authentication substantially in the form established for such
Securities, executed manually by an authorized signatory of the Trustee, shall
be entitled to the benefits of this Indenture or be valid or obligatory for any
purpose.  Such certificate executed by the Trustee upon any Security executed
by the Company shall be conclusive evidence that the Security so authenticated
has been duly authenticated and delivered hereunder and that the registered
holder thereof is entitled to the benefits of this Indenture.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any
series executed by the Company to the Trustee for authentication, together with
an indenture supplemental hereto or a Company Order for the authentication and
delivery of such Securities and the Trustee, in accordance with such
supplemental indenture or Company Order, shall authenticate and deliver such
Securities.

 

In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall receive and (subject to Section 7.01) shall be
fully protected in relying upon, (i) an Opinion of Counsel and (ii) an
Officers’ Certificate, each stating that the form and terms thereof have been
established in conformity with the provisions of this Indenture.  Each Opinion
of Counsel and Officers’ Certificate delivered pursuant to this Section 2.04
shall include all statements prescribed in Section 13.06(b).  Such Opinion of
Counsel shall also be to the effect that when such Securities have been
executed by the Company and authenticated by the Trustee in accordance with the
provisions of this Indenture and delivered to and duly paid for by the
purchasers thereof, they will be valid and legally binding obligations of the
Company, enforceable in accordance with their terms (subject to customary
exceptions) and will be entitled to the benefits of this Indenture.

 

The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will
affect the Trustee’s own rights, duties or immunities 

12 

 

 

 

 

under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the
Trustee.

 

SECTION
2.05.  Exchange of Securities.

 

(a)           Registration
and Transfer of Securities. Securities of any series may be exchanged upon
presentation thereof at the office or agency of the Company designated for such
purpose, for other Securities of such series of authorized denominations, and
for a like aggregate principal amount, upon payment of a sum sufficient to
cover any tax or other governmental charge in relation thereto, all as provided
in this Section.  In respect of any Securities so surrendered for exchange, the
Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in exchange therefor the Security or Securities of the same
series which the Securityholder making the exchange shall be entitled to
receive, bearing numbers not contemporaneously outstanding.

 

(b)           Security Register; Securities to be Accompanied by
Proper Instruments of Transfer. The
Company shall keep, or cause to be kept, at its office or agency designated for
such purpose in the Borough of Manhattan, the City and State of New York, or
such other location designated by the Company a register or registers (herein
referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall register the Securities and
the transfers of Securities as in this Article provided and which at all
reasonable times shall be open for inspection by the Trustee.  The registrar
for the purpose of registering Securities and transfer of Securities as herein
provided shall initially be the Trustee or such other person as may be
subsequently appointed as authorized by Board Resolution or Company Order (the
“Security Registrar”).

Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose in the Borough of
Manhattan, the City and State of New York, or other location as aforesaid, the
Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in the name of the transferee or transferees a new Security or
Securities of the same series as the Security presented for a like aggregate
principal amount.

 

All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied
(if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or
the Security Registrar, duly executed by the registered holder or by his duly
authorized attorney in writing.

 

(c)           Charges upon Exchange, Transfer or Registration of
Securities. Except as provided in the
first paragraph of Section 2.07, no service charge shall be made for any
exchange or registration of transfer of Securities, or issue of new Securities
in case of partial redemption of any series, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, other than exchanges pursuant to Section 3.03(b) and Section
9.04 not involving any transfer.

(d)           Restrictions on Transfer or Exchange at Time of
Redemption. The Company shall neither
be required (i) to issue, exchange or register the transfer of any Securities 

13 

 

 

 

 

during a period beginning at the opening of business
15 days before the day of the mailing of a notice of redemption of less than
all the outstanding Securities of the same series and ending at the close of
business on the day of such mailing, nor (ii) to register the transfer of or
exchange any Securities of any series or portions thereof called for redemption
or as to which the holder thereof has exercised its right, if any, to require
the Company to repurchase such Security in whole or in part, except that
portion of such Security not required to be repurchased.  The provisions of
this Section 2.05 are, with respect to any Global Security, subject to Section
2.11 hereof.

 

SECTION 2.06.  [Reserved] 

 

SECTION
2.07.  Mutilated, Destroyed, Lost or Stolen Securities. In case any
temporary or definitive Security shall become mutilated or be destroyed, lost
or stolen, the Company (subject to the next succeeding sentence) shall execute,
and upon its request the Trustee (subject as aforesaid) shall authenticate and
deliver, a new Security of the same series bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in
lieu of and in substitution for the Security so destroyed, lost or stolen.  In
every case the applicant for a substituted Security shall furnish to the
Company and to the Trustee such security or indemnity as may be required by
them to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and to the Trustee
evidence to their satisfaction of the destruction, loss or theft of the
applicant’s Security and of the ownership thereof.  The Trustee may
authenticate any such substituted Security and deliver the same upon the
written request or authorization of any officer of the Company.  Upon the issuance
of any substituted Security, 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
Trustee) connected therewith.  In case any Security which has matured or is
about to mature shall become mutilated or be destroyed, lost or stolen, the
Company may, instead of issuing a substitute Security, pay or authorize the
payment of the same (without surrender thereof except in the case of a
mutilated Security) if the applicant for such payment shall furnish to the
Company and to the Trustee such security or indemnity as they may require to
save them harmless, and, in case of destruction, loss or theft, evidence to the
satisfaction of the Company and the Trustee of the destruction, loss or theft
of such Security and of the ownership thereof.

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

 

14 

 

 

 

 

SECTION 2.08.  Cancellation
of Surrendered Securities. All Securities surrendered for the purpose of
payment, redemption, exchange or registration of transfer, or for credit
against a sinking fund, shall, if surrendered to the Company or any paying
agent, be delivered to the Trustee for cancellation, or, if surrendered to the
Trustee, shall be canceled by it, and no Securities shall be issued in lieu
thereof except as expressly required or permitted by any of the provisions of
this Indenture.  On request of the Company, the Trustee shall deliver to the
Company canceled Securities held by the Trustee.  In the absence of such
request the Trustee may dispose of canceled Securities in accordance with its
standard procedures.  If the Company shall otherwise 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 delivered to the Trustee for cancellation.

 

SECTION
2.09.  Provisions of Indenture and Securities for Sole Benefit of Parties
and Securityholders. Nothing in this Indenture or in the Securities,
express or implied, shall give or be construed to give to any person, firm or
corporation, other than the parties hereto and the holders of the Securities,
any legal or equitable right, remedy or claim under or in respect of this
Indenture, or under any covenant, condition or provision herein contained; all
such covenants, conditions and provisions being for the sole benefit of the
parties hereto and of the holders of the Securities.

SECTION 2.10.  [Reserved] 

 

SECTION
2.11.  Global Security. 

 

(a)           Authentication
and Delivery; Legend. If the Company shall establish pursuant to Section
2.01 that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee shall, in accordance
with Section 2.04, authenticate and deliver, a Global Security which (i) shall
represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all of the Outstanding Securities of such series, (ii)
shall be registered in the name of the Depository or its nominee, (iii) shall be
delivered to the Trustee as the custodian for such Depository or pursuant to
the Depository’s instruction and (iv) shall bear a legend substantially to the
following effect:  “Except as otherwise provided in Section 2.11 of the
Indenture, this Security may be transferred, in whole but not in part, only to
another nominee of the Depository or to a successor Depository or to a nominee
of such successor Depository.”  Members of, or participants in, the Depository
(“Participants”) shall have no rights under this Indenture with respect to any
Global Note held on their behalf by the Depository, or the Trustee as its
custodian, or under the Global Note, and the Depository may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute
owner of the Global Note for all purposes whatsoever.  Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Trustee or any agent
of the Company or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by the Depository or impair, as between
the Depository and Participants, the operation of customary practices governing
the exercise of the rights of a Holder or beneficial owner of any Note.

 

(b)           Transfer
of Global Security. Notwithstanding the provisions of Section 2.05, the
Global Security of a series may be transferred, in whole but not in part and in
the manner provided in Section 2.05, only to another nominee of the Depository
for such series, or to 

15 

 

 

 

 

a
successor Depository for such series selected or approved by the Company or to
a nominee of such successor Depository.

 

(c)           Issuance
of Securities in Definitive Form. If at any time the Depository for a
series of Securities notifies the Company that it is unwilling or unable to
continue as Depository for such series or if at any time the Depository for
such series shall no longer be registered or in good standing under the
Exchange Act, or other applicable statute or regulation and a successor
Depository for such series is not appointed by the Company within 90 days after
the Company receives such notice or becomes aware of such condition, as the
case may be, this Section 2.11 shall no longer be applicable to the Securities
of such series and the Company will execute, and subject to Section 2.05, the
Trustee will authenticate and deliver Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an
aggregate principal amount equal to the principal amount of the Global Security
of such series in exchange for such Global Security.  In addition, the Company
may at any time determine that the Securities of any series shall no longer be
represented by a Global Security and that the provisions of this Section 2.11
shall no longer apply to the Securities of such series.  In such event the
Company will execute, and subject to Section 2.05, the Trustee, upon receipt of
an Officers’ Certificate and an Opinion of Counsel evidencing such
determination by the Company, will authenticate and deliver Securities of such
series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global
Security.  Upon the exchange of the Global Security for such Securities in
definitive registered form without coupons, in authorized denominations, the
Global Security shall be canceled by the Trustee.  Such Securities in
definitive registered form issued in exchange for the Global Security pursuant
to this Section 2.11(c) shall be registered in such names and in such
authorized denominations as the Depository, pursuant to instructions from its
direct or indirect participants or otherwise, shall instruct the Security Registrar. 
The Trustee shall deliver such Securities to the Depository for delivery to the
persons in whose names such Securities are so registered.

 

(d)           Grant
of Proxies by Holder of Global Note. The Holder of any Global Note may
grant proxies and otherwise authorize any Person, including Participants and
Persons that may hold interests through Participants, to take any action which
a Holder is entitled to take under this Indenture or the Notes.

 

SECTION
2.12.  Payment in Proper Currency. In the case of the Securities of any
series denominated in any currency other than Dollars or in a composite
currency (the “Required Currency”), except as otherwise specified with respect
to such Securities as contemplated by Section 2.01, the obligation of the
Company to make any payment of the principal thereof, or the premium or
interest thereon, shall not be discharged or satisfied by any tender by the
Company, or recovery by the Trustee, in any currency other than the Required
Currency, except to the extent that such tender or recovery shall result in the
Trustee timely holding the full amount of the Required Currency then due and
payable.  If any such tender or recovery is in a currency other than the
Required Currency, the Trustee may take such actions as it considers
appropriate to exchange such currency for the Required Currency.  The costs and
risks of any such exchange, including, without limitation, the risks of delay
and exchange rate fluctuation, shall be borne by the Company, the Company shall
remain fully liable for any shortfall or delinquency in the full 

16 

 

 

 

 

amount
of Required Currency then due and payable, and in no circumstances shall the
Trustee be liable therefor except in the case of its negligence or willful
misconduct.

 

SECTION 2.13.  Identification
of Securities. The Company in issuing Securities may use “CUSIP” numbers
(if then generally in use) and, if so used, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to holders of Securities;
provided that any such notice may state that no representation is made as to
the correctness of such numbers either as printed on the Securities or
contained in any notice of redemption and that reliance may be placed only on
the other identification numbers printed on the Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers. 
The Company shall promptly notify the Trustee of any change in the CUSIP
numbers.

 

ARTICLE III.

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

 

SECTION 3.01.  Redemption of
Securities. The Company may redeem
the Securities of any series issued hereunder on and after the dates and in
accordance with the terms established for such series pursuant to Section 2.01
hereof.

 

SECTION 3.02.   

SECTION
3.02.  Action to Redeem Securities.   

 

(a)           Notice
of Redemption.  In case the Company shall desire to exercise such right to
redeem all or, as the case may be, a portion of the Securities of any series in
accordance with the right reserved so to do, it shall give notice of such
redemption to holders of the Securities of such series to be redeemed (in the
case of physical notes) by mailing, first class postage prepaid, or by
transmitting a notice of such redemption not less than 30 days and not more
than 60 days before the date fixed for redemption of that series to such
holders at their last addresses as they shall appear upon the Security
Register.  Any notice which is (in the case of physical notes) mailed or
transmitted in the manner herein provided shall be conclusively presumed to
have been duly given, whether or not the registered holder receives the
notice.  In any case, failure duly to give such notice to the holder of any
Security of any series designated for redemption in whole or in part, or any
defect in the notice, shall not affect the validity of the proceedings for the
redemption of any other Securities of such series or any other series.  In the
case of any redemption of Securities prior to the expiration of any restriction
on such redemption or subject to compliance with certain conditions provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with
any such restriction or condition.

 

Unless otherwise so provided as to a particular series
of Securities, if at the time of mailing of any notice of redemption the
Company shall not have deposited with the paying agent an amount in cash
sufficient to redeem all of the Securities called for redemption, including
accrued interest to the date fixed for redemption, such notice shall state that
it is subject to the receipt of redemption moneys by the paying agent on or
before the date fixed for redemption (unless such redemption is mandatory) and
such notice shall be of no effect unless such moneys are so received on or
before such date.

 

17 

 

 

 

 

Each such notice of redemption shall identify the
Securities to be redeemed (including CUSIP numbers, if any), specify the date
fixed for redemption and the redemption price at which Securities of that
series are to be redeemed, and shall state that payment of the redemption price
of such Securities to be redeemed will be made at the office or agency of the
Company, upon presentation and surrender of such Securities, that interest
accrued to the date fixed for redemption will be paid as specified in said
notice, that from and after said date interest will cease to accrue and that
the redemption is for a sinking fund, if such is the case.  If less than all
the Securities of a series are to be redeemed, the notice to the holders of
Securities of that series to be redeemed in whole or in part shall specify the
principal amount thereof to be redeemed.

 

(b)           Notice
to Trustee of Securities to be Redeemed.  If less than all the Securities
of a series are to be redeemed, the Company shall give the Trustee at least 45
days’ notice in advance of the date fixed for redemption (unless the Trustee
shall agree to a shorter period) as to the aggregate principal amount of
Securities of the series to be redeemed, and thereupon the Trustee shall
select, by lot or in such other manner as it shall deem appropriate and fair
and shall thereafter promptly notify the Company in writing of the numbers of
the Securities to be redeemed, in whole or in part, and so long as any
securities are represented by Global Notes, in accordance with the procedures
of the Depository.  So long as the securities are represented by Global Notes
registered in the name of The Depository Trust Company or its nominee, neither
the Trustee nor any of its agents shall have any responsibility for any actions
taken or not taken by the Depository.

 

The Company may, if and whenever it shall so elect, by
delivery of instructions signed on its behalf by an Authorized Officer,
instruct the Trustee or any paying agent to call all or any part of the
Securities of a particular series for redemption and to give notice of
redemption in the manner set forth in this Section, such notice to be in the
name of the Company or its own name as the Trustee or such paying agent may deem
advisable.  In any case in which notice of redemption is to be given by the
Trustee or any such paying agent, the Company shall deliver or cause to be
delivered to the Trustee notice of redemption information at least 5 days prior
to the giving of such notice (unless the Trustee shall agree to a shorter
period).

 

SECTION 3.03.  Payment
of Securities Called for Redemption.  

 

(a)           When
Securities Called for Redemption become Due and Payable.  If the giving of
notice of redemption shall have been completed as above provided, the
Securities or portions of Securities of the series to be redeemed specified in
such notice shall become due and payable on the date and at the place stated in
such notice at the applicable redemption price, together with, subject to the
Company Order or supplemental indenture hereto establishing the terms of such
series of Securities, interest accrued to the date fixed for redemption and
interest on such Securities or portions of Securities shall cease to accrue on
and after the date fixed for redemption, unless the Company shall default in
the payment of such redemption price and accrued interest with respect to any
such Security or portion thereof.  On presentation and surrender of such
Securities on or after the date fixed for redemption at the place of payment
specified in the notice, said Securities shall be paid and redeemed at the
applicable redemption price for such series, together with, subject to the
Company Order or supplemental indenture hereto establishing the terms of such series
of Securities, interest accrued thereon to the date fixed for redemption.

 

18 

 

 

 

 

(b)           Receipt
of New Security upon Partial Payment.  Upon presentation of any Security of
such series which is to be redeemed in part only, the Company shall execute and
the Trustee shall authenticate and the office or agency where the Security is
presented shall deliver to the holder thereof, at the expense of the Company, a
new Security or Securities of the same series, of authorized denominations in
principal amount equal to the unredeemed portion of the Security so presented.

 

SECTION 3.04.  Sinking
Fund for Securities.  The provisions of this Section 3.04 and Sections 3.05
and 3.06 shall be applicable to any sinking fund for the retirement of
Securities of a series, except as otherwise specified as contemplated by
Section 2.01 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 Securities of any series is herein referred
to as an “optional sinking fund payment”.  If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 3.05.  Each sinking fund payment
shall be applied to the redemption of Securities of such series as provided for
by the terms of Securities of such series.

 

SECTION 3.05.  Satisfaction
of Sinking Fund Payments with Securities.  The Company (i) may deliver
Outstanding Securities of a series (other than any previously called for
redemption) and (ii) may apply as a credit Securities of a series which have
been redeemed either at the election of the Company pursuant to the terms of
such Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Securities, in each case in satisfaction
of all or any part of any mandatory sinking fund payment; provided that such
Securities have not been previously so credited.  Such Securities shall be
received and credited for such purpose by the Trustee at the redemption price
specified in such Securities for redemption through operation of the mandatory
sinking fund and the amount of such mandatory sinking fund payment shall be
reduced accordingly.

 

SECTION 3.06.  Redemption
of Securities for Sinking Fund.  Not less than 45 days prior to each
sinking fund payment date for any series of Securities, the Company will
deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing sinking fund payment for that series pursuant to the terms of that
series, the portion thereof, if any, which is to be satisfied by delivering and
crediting Securities of that series pursuant to Section 3.05 and the basis for
such credit and will, together with such Officers’ Certificate, deliver to the
Trustee any Securities to be so delivered.  Not less than 30 days before each
such sinking fund payment date the Securities to be redeemed upon such sinking
fund payment date shall be selected in accordance with the procedures of the
Depository in the manner specified in Section 3.02 and the Company shall give
or cause the Trustee to give notice of the redemption thereof in the name of
and at the expense of the Company in the manner provided in Section 3.02,
except that the notice of redemption shall also state that the Securities of
such series are being redeemed by operation of the sinking fund and the sinking
fund payment date.  Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Section
3.03.

19 

 

 

 

 

 

ARTICLE IV.

PARTICULAR COVENANTS OF THE COMPANY 

 

The Company covenants and agrees for each series of
the Securities as follows: 

 

SECTION 4.01.   

SECTION 4.01.  Payment
of Principal (and Premium if any) and Interest on Securities.  The Company
will duly and punctually pay or cause to be paid the principal of (and premium,
if any) and interest on the Securities of that series at the time and place and
in the manner provided herein and established with respect to such Securities.

 

SECTION 4.02.   

SECTION 4.02.  Maintenance
of Office or Agency for Payment, Registration, Transfer and Exchange of
Securities.  So long as any series of the Securities remain outstanding,
the Company agrees to maintain an office or agency with respect to each such
series, which shall be in the Borough of Manhattan, the City and State of New
York or at such other location or locations as may be designated as provided in
this Section 4.02, where (i) Securities of that series may be presented for
payment, (ii) Securities of that series may be presented as hereinabove
authorized for registration of transfer and exchange, and (iii) notices and
demands to or upon the Company in respect of the Securities of that series and
this Indenture may be given or served, such designation to continue with
respect to such office or agency until the Company shall, by written notice
signed by an Authorized Officer and delivered to the Trustee, designate some
other office or agency for such purposes or any of them.  If at any time the
Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations, notices
and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such
presentations, notices and demands.  The Trustee or its agent will initially
act as paying agent for the Securities.

 

The Company may also from time to time, by written
notice signed by an Authorized Officer and delivered to the Trustee, designate
one or more other offices or agencies for the foregoing purposes within or
outside the Borough of Manhattan, City of New York, 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 obligations to maintain
an office or agency in the Borough of Manhattan, City of New York for the
foregoing purposes.  The Company will give prompt written notice to the Trustee
of any change in the location of any such other office or agency.

 

SECTION 4.03.  Paying
Agent. 

 

(a)           Duties
of Paying Agent.  If the Company shall appoint one or more paying agents
for all or any series of the Securities, other than the Trustee, the Company
will cause each such paying agent to execute and deliver to the Trustee an
instrument in which such agent shall agree with the Trustee, subject to the
provisions of this Section: 

 

(1)                
that it will hold all sums held by
it as such agent for the payment of the principal of (and premium, if any) or
interest on the Securities of that series (whether such sums have been paid to
it by the Company or by any other obligor of such Securities) in trust for the
benefit of the persons entitled thereto; 

20 

 

 

 

 

 

(2)                
that it will give the Trustee
prompt notice of any failure by the Company (or by any other obligor of such
Securities) to make any payment of the principal of (and premium, if any) or
interest on the Securities of that series when the same shall be due and
payable; 

 

(3)                
that it will, at any time during
the continuance of any failure referred to in the preceding paragraph (a)(2)
above, upon the written request of the Trustee, forthwith pay to the Trustee
all sums so held in trust by such paying agent; and 

 

(4)                
that it will perform all other
duties of paying agent as set forth in this Indenture.

 

(b)           Company
as Paying Agent.  If the Company shall act as its own paying agent with
respect to any series of the Securities, it will on or before each due date of
the principal of (and premium, if any) or interest on Securities of that
series, set aside, segregate and hold in trust for the benefit of the persons
entitled thereto a sum sufficient to pay such principal (and premium, if any)
or interest so becoming due on Securities of that series until such sums shall
be paid to such persons or otherwise disposed of as herein provided and will
promptly notify the Trustee of such action, or any failure (by it or any other
obligor on such Securities) to take such action.  Whenever the Company shall
have one or more paying agents for any series of Securities, it will, prior to
each due date of the principal of (and premium, if any) or interest on any
Securities of that series, deposit with the paying agent a sum sufficient to
pay the principal (and premium, if any) or interest so becoming due, such sum
to be held in trust for the benefit of the persons entitled to such principal,
premium or interest, and (unless such paying agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act.

 

(c)           Holding
Sums in Trust.  Anything in this Section to the contrary notwithstanding,
(i) the agreement to hold sums in trust as provided in this Section is subject
to the provisions of Section 11.04, and (ii) 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 direct any paying agent to pay, to the Trustee
all sums held in trust by the Company or such paying agent, such sums to be
held by the Trustee upon the same terms and conditions 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 Trustee, such paying agent shall be released from all
further liability with respect to such money.

 

SECTION 4.04.  Appointment
to Fill Vacancy in Office of Trustee.  The Company, whenever necessary to
avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
provided in Section 7.10, a Trustee, so that there shall at all times be a
Trustee hereunder.  

 

SECTION 4.05.  Restriction
on Consolidation, Merger of the Company.  The Company will not, while any
of the Securities remain outstanding, consolidate with, or merge into, or merge
into itself, or sell or convey all or substantially all of its property to any
other Person unless the provisions of Article Ten hereof are complied with.

 

SECTION 4.06.  Original
Issue Discount Security.  In the event that the Company issues an Original
Issue Discount Security, the Company shall file with the Trustee at or prior to
the 

21 

 

 

 

 

time
of the authentication of such Original Issue Discount Security a written
notice, in such form as mutually agreed upon by the Company and the Trustee,
specifying the amount of original issue discount that will be accrued on such
Original Issue Discount Security in each calendar year from the date of
issuance to the maturity thereof.

 

ARTICLE V.

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

 

SECTION 5.01.  Company
to Furnish Trustee Information as to Names and Addresses of Securityholders. 
The Company will furnish or cause to be furnished to the Trustee (a) on each
regular record date (as defined in Section 2.03) for the Securities of each
Tranche of a series a list (at intervals of at least every six months), in such
form as the Trustee may reasonably require, of the names and addresses of the
holders of such Tranche of Securities as of such regular record date, provided,
that the Company shall not be obligated to furnish or cause to be furnished
such list at any time that the list shall not differ in any respect from the
most recent list furnished to the Trustee by the Company and (b) at such other
times as the Trustee may request in writing within 30 days after the receipt by
the Company of any such request, a list of similar form and content as of a
date not more than 15 days prior to the time such list is furnished; provided,
however, no such list need be furnished for any series for which the Trustee
shall be the Security Registrar.

 

SECTION 5.02.  Responsibilities
of Trustee Relating to Securityholder Information. 

 

(a)           Trustee
to Preserve Information as to Names and Addresses of Securityholders.  The
Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the holders of Securities
contained in the most recent list furnished to it as provided in Section 5.01
and as to the names and addresses of holders of Securities received by the
Trustee in its capacity as Security Registrar (if acting in such capacity).

 

(b)           Trustee
may Destroy List of Securityholders on Certain Conditions.  The Trustee may
destroy any list furnished to it as provided in Section 5.01 upon receipt of a
new list so furnished.

 

SECTION 5.03.  Delivery
Obligations of Company. 

  

(a)           Annual
and Other Reports to be Filed by Company with Trustee.  The Company
covenants and agrees to file with the Trustee, within 30 days after the Company
has filed the same with the Commission, a copy of the annual reports and of the
information, documents and other reports (or a copy of such portions of any of
the foregoing as the Commission may from time to time by rules and regulations
prescribe) which the Company may be required to file with the Commission pursuant
to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not
required to file information, documents or reports pursuant to either of such
sections, then to file with the Trustee and, unless the Commission shall not
accept such information, documents or reports, the Commission, in accordance
with the rules and regulations prescribed from time to time by the Commission,
such of the supplementary and 

22 

 

 

 

 

periodic
information, documents and reports which may be required pursuant to Section 13
of the Exchange Act, in respect of a security listed and registered on a
national securities exchange as may be prescribed from time to time in such
rules and regulations.

 

(b)           Additional
Information and Reports to be Filed with Trustee and Securities and Exchange
Commission.  The Company covenants and agrees to file with the Trustee and
the Commission, in accordance with the 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 provided for in this Indenture as may be required from time to time
by such rules and regulations.

 

(c)           Summaries
of Information and Reports to be Transmitted by Company to Securityholders. 
The Company covenants and agrees to transmit to the Securityholders, as their
names and addresses appear upon the Security Register, within 30 days after the
filing thereof with the Trustee, such summaries of any information, documents
and reports required to be filed by the Company pursuant to subsections (a) and
(b) of this Section as may be required by rules and regulations prescribed from
time to time by the Commission.

 

(d)           Annual
Certificate to be Furnished to Trustee.  The Company covenants and agrees
to furnish to the Trustee, on or before May 15 in each calendar year in which
any of the Securities are outstanding, commencing in May 2014, a 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 if the Company
shall not be in compliance, specifying such non-compliance and the nature and
status thereof of which such signer may have knowledge.  For purposes of this
subsection (d), such compliance shall be determined without regard to any
period of grace or requirement of notice provided under this Indenture.

 

(e)           Effect
of Delivery to Trustee.  Delivery of such information, documents or reports
to the Trustee is for informational purposes only and the Trustee’s receipt
thereof shall not constitute constructive notice of any information contained
therein or determinable from information contained therein.

 

SECTION 5.04.  Delivery
Obligations of Trustee. 

 

(a)           Trustee
to Transmit Annual Report to Securityholders.  The Trustee shall transmit
to Holders such reports concerning the Trustee and its actions under this
Indenture as may be required pursuant to the Trust Indenture Act at the times
and in the manner provided pursuant thereto.  If required by Section 313(a) of
the Trust Indenture Act, the Trustee shall, within sixty days after May 15 in
each year following the date of the initial issuance of Securities under this
Indenture deliver to Holders a brief report, dated on or prior to May 15 in
each year, which complies with the provisions of such Section 313(a).  The
Trustee shall also comply with Trust Indenture Act Section 313(b) and shall
transmit all reports as required by Trust Indenture Act Section 313(c).

 

(b)           Copies of
Reports to be Filed with Stock Exchanges and Securities and Exchange Commission.  A copy of each such reports shall, at
the time of such transmission to 

23 

 

 

 

 

Holders,
be filed by the Trustee with each stock exchange, if any, upon which the
Securities are listed, with the Commission and with the Company.  The Company
will promptly notify the Trustee in writing when the Securities are listed on
any stock exchange and of any delisting thereof.

 

SECTION 5.05.  Communication between Holders.  Holders
may communicate pursuant to Trust Indenture Act Section 312(b) with other
Holders with respect to their rights under this Indenture or the Notes. 
The Company, the Trustee, the Security Registrar and anyone else shall have the
protection of Trust Indenture Act Section 312(c).  

 

ARTICLE VI.

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 

 

SECTION 6.01.  Events
of Default. 

 

(a)           Events
of Default Defined.  Whenever used herein with respect to Securities of a
particular series, “Event of Default” means any one or more of the following
events which has occurred and is continuing: 

 

(1)                
default in the payment of any
installment of interest upon any of the Securities of that series, as and when
the same shall become due and payable, and continuance of such default for a
period of 30 days; 

 

(2)                
default in the payment of the
principal of (or premium, if any, on) any of the Securities of that series as
and when the same shall become due and payable whether at maturity, upon
redemption, pursuant to any sinking fund obligation, by declaration or
otherwise, and continuance of such default for a period of three Business Days;

 

(3)                
failure on the part of the Company
duly to observe or perform any other of the covenants or agreements on the part
of the Company with respect to that series contained in such Securities or
otherwise established with respect to that series of Securities pursuant to
Section 2.01 hereof or contained in this Indenture (other than a covenant or
agreement which has been expressly included in this Indenture solely for the
benefit of one or more series of Securities other than such series) for a
period of 90 days after the date on which written notice of such failure,
requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by
registered or certified mail, or to the Company and the Trustee by the holders
of at least 33% in principal amount of the Securities of that series at the
time outstanding; 

 

(4)                
a decree or order by a court
having jurisdiction in the premises shall have been entered adjudging the
Company as bankrupt or insolvent, or approving as properly filed a petition
seeking liquidation or reorganization of the Company under the Federal Bankruptcy
Code or any other similar applicable Federal or State law, and such decree or 

24 

 

 

 

 

order shall have continued unvacated and unstayed for
a period of 90 consecutive days; or an involuntary case shall be commenced
under such Code in respect of the Company and shall continue undismissed for a
period of 90 consecutive days or an order for relief in such case shall have
been entered; or a decree or order of a court having jurisdiction in the
premises shall have been entered for the appointment on the ground of
insolvency or bankruptcy of a receiver or custodian or liquidator or trustee or
assignee in bankruptcy or insolvency of the Company or of its property, or for
the winding up or liquidation of its affairs, and such decree or order shall
have remained in force unvacated and unstayed for a period of 90 consecutive
days; 

 

(5)                
the Company shall institute
proceedings to be adjudicated a voluntary bankrupt, or shall consent to the
filing of a bankruptcy proceeding against it, or shall file a petition or
answer or consent seeking liquidation or reorganization under the Federal Bankruptcy
Code or any other similar applicable Federal or State law, or shall consent to
the filing of any such petition, or shall consent to the appointment on the
ground of insolvency or bankruptcy of a receiver or custodian or liquidator or
trustee or assignee in bankruptcy or insolvency of it or of its property, or
shall make an assignment for the benefit of creditors; or 

 

(6)                
the occurrence of any other Event
of Default with respect to Securities of such series, as contemplated by
Section 2.01 hereof.

 

(b)           Acceleration
of Maturity upon Event of Default.  The Company shall file with the Trustee
written notice of the occurrence of any Event of Default within five Business
Days of the Company’s becoming aware of any such Event of Default.  In each and
every such case, unless the principal of all the Securities of that series
shall have already become due and payable, either the Trustee or the holders of
not less than 33% in aggregate principal amount of the Securities of that
series then outstanding hereunder, by notice in writing to the Company (and to
the Trustee if given by such Securityholders), may declare the principal (or,
if any of such Securities are Original Issue Discount Securities, such portion
of the principal amount thereof as may be specified by their terms as
contemplated by Section 2.01) of all the Securities of that series to be due
and payable immediately, and upon any such declaration the same shall become
and shall be immediately due and payable, anything contained in this Indenture
or in the Securities of that series or established with respect to that series
pursuant to Section 2.01 hereof to the contrary notwithstanding.

 

(c)           Waiver
of Default and Rescission of Declaration of Maturity.  Section 6.01(b),
however, is subject to the condition that if, at any time after the principal
of the Securities of that series shall have been so declared due and payable,
and before any judgment or decree for the payment of the monies due shall have
been obtained or entered as hereinafter provided, the Company shall pay or
shall deposit with the Trustee a sum sufficient to pay all matured installments
of interest upon all the Securities of that series and the principal of (and
premium, if any, on) any and all Securities of that series which shall have
become due otherwise than by acceleration (with interest upon such principal
and premium, if any, and, to the extent that such payment is enforceable under
applicable law, upon overdue installments of interest, at the rate per annum
expressed in the Securities of that series to the date of such payment or
deposit) and the amount payable to the Trustee under Section 7.06, and any and
all defaults 

25 

 

 

 

 

under
the Indenture, other than the nonpayment of principal on Securities of that
series which shall not have become due by their terms, shall have been remedied
or waived as provided in Section 6.06, then and in every such case the holders
of a majority in aggregate principal amount of the Securities of that series
then outstanding, by written notice to the Company and to the Trustee, may
rescind and annul such declaration and its consequences with respect to that
series of Securities; but no such rescission and annulment shall extend to or
shall affect any subsequent default, or shall impair any right consequent thereon.

 

(d)           Restoration
of Former Position and Rights upon Curing Default.  In case the Trustee
shall have proceeded to enforce any right with respect to Securities of that
series under this Indenture and such proceedings shall have been discontinued
or abandoned because of such rescission or annulment or for any other reason or
shall have been determined adversely to the Trustee, then and in every such
case the Company and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Company and the Trustee shall continue as though no such proceedings had been
taken.

 

SECTION 6.02.  Rights
of Trustee upon Default.  

 

(a)           Covenant
of Company to Pay to Trustee Whole Amount due on Securities on Default in
Payment of Interest or Principal (and Premium, if any).  The Company
covenants that in case an Event of Default described in subsection 6.01(a)(1)
or (a)(2) shall have occurred and be continuing, upon demand of the Trustee,
the Company will pay to the Trustee, for the benefit of the holders of the
Securities of that series, the whole amount that then shall have become due and
payable on all such Securities for principal (and premium, if any) or interest,
or both, as the case may be, with interest upon the overdue principal (and
premium, if any) and (to the extent that payment of such interest is
enforceable under applicable law and without duplication of any other amounts
paid by the Company in respect thereof) upon overdue installments of interest
at the rate per annum expressed in the Securities of that series; and, in
addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, and the amount payable to the Trustee under Section
7.06.

 

(b)           Trustee
may Recover Judgment for Whole Amount due on Securities on Failure of Company
to Pay.  In case the Company shall fail forthwith to pay such amounts upon
such demand, the Trustee, in its own name and as trustee of an express trust,
shall be entitled and empowered to institute any action or proceedings at law
or in equity for the collection of the sums so due and unpaid, and may
prosecute any such action or proceeding to judgment or final decree, and may
enforce any such judgment or final decree against the Company or other obligor
upon the Securities of that series and collect in the manner provided by law
out of the property of the Company or other obligor upon the Securities of that
series wherever situated the monies adjudged or decreed to be payable.

 

(c)           Proof
of Claim by Trustee in Bankruptcy, Reorganization or Receivership Proceeding. 
In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or other judicial
proceedings affecting the Company, any other obligor on such Securities, or the
creditors or property of either, the Trustee shall have power to intervene in
such proceedings and take any action therein that may be permitted by the court
and shall (except as may be otherwise provided by law) be entitled to file such
proofs of 

26 

 

 

 

 

claim
and other papers and documents as may be necessary or advisable in order to
have the claims of the Trustee and of the holders of Securities of such series
allowed for the entire amount due and payable by the Company or such other
obligor under this Indenture at the date of institution of such proceedings and
for any additional amount which may become due and payable by the Company or
such other obligor after such date, and to collect and receive any monies or
other property payable or deliverable on any such claim, and to distribute the
same after the deduction of the amount payable to the Trustee under Section
7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is
hereby authorized by each of the holders of Securities of such series to make
such payments to the Trustee, and, in the event that the Trustee shall consent
to the making of such payments directly to such Securityholders, to pay to the
Trustee any amount due it under Section 7.06.

 

(d)           Rights
of Action and of Asserting Claims may be Enforced by Trustee without Possession
of Securities.  All rights of action and of asserting claims under this
Indenture, or under any of the terms established with respect to Securities of
that series, may be enforced by the Trustee without the possession of any of
such Securities, or the production thereof at any trial or other proceeding
relative thereto, and any such suit or proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for payment to the Trustee of any
amounts due under Section 7.06, be for the ratable benefit of the holders of
the Securities of such series.

 

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

 

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

 

SECTION 6.03.  Application
of Monies Collected by Trustee.  Any monies collected by the Trustee
pursuant to Section 6.02 with respect to a particular series of Securities
shall be applied in the order following, at the date or dates fixed by the
Trustee and, in case of the distribution of such monies on account of principal
(or premium, if any) or interest, upon presentation of the several Securities
of that series, and stamping thereon the payment, if only partially paid, and
upon surrender thereof if fully paid: 

 

FIRST: To the payment of costs and expenses of collection
and of all amounts payable to the Trustee under Section 7.06; 

 

SECOND: To the payment of the amounts then due and
unpaid upon Securities of such series for principal (and premium, if any) and
interest, in respect of which or for the benefit of 

27 

 

 

 

 

which such money has been
collected, ratably, without preference or priority of any kind, according to
the amounts due and payable on such Securities for principal (and premium, if
any) and interest, respectively; and 

 

THIRD: To the Company.

 

SECTION 6.04.  Limitation
on Suits by Holders of Securities.  No holder of any Security of any series
shall have any right by virtue or by availing of any provision of this
Indenture to institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Indenture or for the appointment of a receiver
or trustee, or for any other remedy hereunder, unless such holder previously
shall have given to the Trustee written notice of an Event of Default and of
the continuance thereof with respect to Securities of such series specifying
such Event of Default, as hereinbefore provided, and unless also the holders of
not less than 33% in aggregate principal amount of the Securities of such
series then outstanding shall have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as trustee hereunder
and shall have offered to the Trustee indemnity reasonably satisfactory to it
against the costs, expenses and liabilities to be incurred therein or thereby,
and the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity, shall have failed to institute any such action, suit or
proceeding; it being understood and intended, and being expressly covenanted by
the taker and holder of every Security of such series with every other such
taker and holder and the Trustee, that no one or more holders of Securities of
such series shall have any right in any manner whatsoever by virtue or by
availing of any provision of this Indenture to affect, disturb or prejudice the
rights of the holders of any other of such Securities, or to obtain or seek to
obtain priority over or preference to any other such holder, or to enforce any
right under this Indenture, except in the manner herein provided and for the
equal, ratable and common benefit of all holders of Securities of such series. 
For the protection and enforcement of the provisions of this Section, each and
every Securityholder and the Trustee shall be entitled to such relief as can be
given either at law or in equity.

 

Notwithstanding any other provisions of this
Indenture, however, the right of any holder of any Security to receive payment
of the principal of (and premium, if any) and interest on such Security, as
therein provided, on or after the respective due dates expressed in such
Security (or in the case of redemption, on the redemption date), or to
institute suit for the enforcement of any such payment on or after such
respective dates or redemption date, shall not be impaired or affected without
the consent of such holder.

 

SECTION 6.05.  Remedies;
Delay or Omission in Exercise of Rights. 

 

(a)           Remedies
Cumulative.  All powers and remedies given by this Article to the Trustee
or to the Securityholders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any others thereof or of any other powers and
remedies available to the Trustee or the holders of the Securities, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants
and agreements contained in this Indenture or otherwise established with
respect to such Securities.

 

(b)           Delay
or Omission in Exercise of Rights not Waiver of Default.  No delay or
omission of the Trustee or of any holder of any of the Securities to exercise
any right or power 

28 

 

 

 

 

accruing
upon any Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such
default or an acquiescence therein; and, subject to the provisions of Section
6.04, every power and remedy given by this Article or by law to the Trustee or
to the Securityholders may be exercised from time to time, and as often as
shall be deemed expedient, by the Trustee or by the Securityholders.

 

SECTION 6.06.  Rights
of Holders of Majority in Principal Amount of Securities to Direct Trustee and
to Waive Defaults.  The holders of a majority in aggregate principal amount
of the Securities of any series at the time outstanding, determined in
accordance with Section 8.04, shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred on the Trustee with respect to such
series; provided, however, that such direction shall not be in conflict with
any rule of law or with this Indenture or unduly prejudicial to the rights of
holders of Securities of any other series at the time outstanding determined in
accordance with Section 8.04 not parties thereto.  Subject to the provisions of
Section 7.01, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer or
Officers of the Trustee, determine that the proceeding so directed might
involve the Trustee in personal liability.  The holders of a majority in
aggregate principal amount of the Securities of any series at the time
outstanding affected thereby, determined in accordance with Section 8.04, may
on behalf of the holders of all of the Securities of such series waive any past
default in the performance of any of the covenants contained herein or
established pursuant to Section 2.01 with respect to such series and its consequences,
except a default in the payment of the principal of, or premium, if any, or
interest on, any of the Securities of that series as and when the same shall
become due by the terms of such Securities otherwise than by acceleration
(unless such default has been cured and a sum sufficient to pay all matured
installments of interest and principal otherwise than by acceleration and any
premium has been deposited with the Trustee (in accordance with Section
6.01(c))) or a call for redemption of Securities of that series.  Upon any such
waiver, the default covered thereby shall be deemed to be cured for all
purposes of this Indenture and the Company, the Trustee and the holders of the
Securities of such series shall be restored to their former positions and rights
hereunder, respectively; but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon.

 

SECTION 6.07.  Notice
of Known Defaults.  The Trustee shall, within 90 days after the occurrence
of a default with respect to a particular series, transmit to the holders of
Securities of that series, as their names and addresses appear upon the
Security Register, notice of all defaults with respect to that series known to
the Trustee, unless such defaults shall have been cured or waived before the
giving of such notice (the term “defaults” for the purposes of this Section
being hereby defined to be the events specified in subsections (1), (2), (3),
(4), (5), (6) and (7) of Section 6.01(a), not including any periods of grace
provided for therein and irrespective of the giving of notice provided for by
subsection (4) of Section 6.01(a)); provided, that, except in the case of
default in the payment of the principal of (or premium, if any) or interest on
any of the Securities of that series or in the payment of any sinking or
analogous fund installment established with respect to that series, the Trustee
shall be protected in withholding such notice if and so long as a trust
committee of directors and/or Responsible Officers, of the Trustee in good
faith determine that the withholding of such notice is in the interests of the
holders of Securities of that series; provided further, that in the case of any
default of the character specified in 

29 

 

 

 

 

Section
6.01(a)(4) with respect to Securities of such series no such notice to the
holders of the Securities of that series shall be given until at least 30 days
after the occurrence thereof.

 

The Trustee shall not be deemed to have knowledge of
any default, except (i) a default under subsection (a)(1), (a)(2) or (a)(3) of
Section 6.01 as long as the Trustee is acting as paying agent for such series
of Securities or (ii) any default as to which a Responsible Officer charged
with the administration of this Indenture shall have received written notice.

 

SECTION 6.08.  Undertaking
to Pay Costs in Certain Suits under Indenture or Against Trustee.  All
parties to this Indenture agree, and each holder of any Securities by his or
her acceptance thereof shall be deemed to have agreed, that any court may in
its discretion require, in any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Trustee for any action taken
or omitted by it as Trustee, the filing by any party litigant in such suit of
an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in such suit, having due regard to the
merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section shall not apply to any suit instituted by
the Trustee, to any suit instituted by any Securityholder, or group of
Securityholders, holding more than 10% in aggregate principal amount of the
outstanding Securities of any series, or to any suit instituted by any
Securityholder for the enforcement of the payment of the principal of (or
premium, if any) or interest on any Security of such series, on or after the
respective due dates expressed in such Security or established pursuant to this
Indenture.

 

ARTICLE VII.

CONCERNING THE TRUSTEE 

 

SECTION 7.01.  Certain
Duties and Responsibilities of Trustee. 

 

(a)           Upon Event of Default.  The Trustee, prior to the occurrence of an Event of
Default with respect to Securities of a series and after the curing of all
Events of Default with respect to Securities of that series which may have
occurred, shall undertake to perform with respect to Securities of such series
such duties and only such duties as are specifically set forth in this
Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee.  In case an Event of Default with respect to
Securities of a series has occurred (which has not been cured or waived), the
Trustee shall exercise with respect to Securities of that series such of the
rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.

 

(b)           Negligence
or Willful Misconduct by Trustee.  No provision of this Indenture shall be
construed to relieve the Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that: 

 

(1)                
prior to the occurrence of an
Event of Default with respect to Securities of a series and after the curing or
waiving of all such Events of Default with respect to that series which may
have occurred: 

30 

 

 

 

 

 

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

 

(ii)                
in the absence of bad faith on the
part of the Trustee, the Trustee may with respect to Securities of such series
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case
of any such certificates or opinions which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be
under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture (but need not confirm or investigate the
accuracy of mathematical calculations or other facts stated therein); 

 

(2)                
the Trustee shall not be liable
for any error of judgment made in good faith by a Responsible Officer or
Responsible Officers of the Trustee, unless it shall be proved that the Trustee
was negligent in ascertaining the pertinent facts; 

 

(3)                
the Trustee shall not be liable
with respect to any action taken or omitted to be taken by it in good faith in
accordance with the written direction of the holders of not less than a
majority in principal amount of the Securities of any series at the time
outstanding relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee under this Indenture with respect to the Securities
of that series; and 

 

(4)                
none of the provisions contained
in this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur or risk personal financial liability in the performance of any
of its duties or in the exercise of any of its rights or powers, if the Trustee
reasonably believes that the repayment of such funds or liability is not
reasonably assured to it under the terms of this Indenture or adequate
indemnity against such risk is not reasonably assured to it.

 

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

 

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

 

(a)           Trustee
Reliance on Documents.  The Trustee may conclusively rely and shall be
fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, demand, approval, bond, security or other paper or
document believed by it (i) to be genuine and (ii) to have been signed or
presented by the proper party or parties; 

 

31 

 

 

 

 

(b)           Evidence
Provided for Certain Instruments.  Any request, direction, order or demand
of the Company mentioned herein shall be sufficiently evidenced by a Board
Resolution or an Officers’ Certificate (unless other evidence in respect
thereof is specifically prescribed herein); 

 

(c)           Trustee
may Consult with Counsel and Act on Advice or Opinion of Counsel.  The
Trustee may consult with counsel of its selection and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken or suffered or omitted hereunder in
good faith and in reliance thereon; 

 

(d)           Trustee
may Require Indemnity from Securityholders.  The Trustee shall be under no
obligation to exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the Securityholders,
pursuant to the provisions of this Indenture, unless such Securityholders shall
have offered to the Trustee security or indemnity satisfactory to it against
the costs, expenses and liabilities which may be incurred therein or thereby; 

 

(e)           Trustee
not Liable for Actions in Good Faith Believed to be Authorized.  The
Trustee shall not be liable for any action taken or omitted to be taken by it
in good faith and believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Indenture; 

 

(f)            Trustee
not Bound to Investigate Facts or Matters.  The Trustee shall not be bound
to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent,
direction, order, demand, approval, bond, security, or other papers or
documents, unless requested in writing so to do by the holders of not less than
a majority in principal amount of the outstanding Securities of the particular
series affected thereby (determined as provided in Section 8.04); provided,
however, that if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of
such investigation is, in the opinion of the Trustee, not reasonably assured to
the Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require reasonable indemnity against such costs, expenses or
liabilities as a condition to so proceeding.  The reasonable expense of every
such examination shall be paid by the Company or, if paid by the Trustee, shall
be repaid by the Company upon demand.  Notwithstanding the foregoing, the
Trustee, in its direction, may make such further inquiry or investigation into
such facts or matters as it may see fit.  In making any investigation required
or authorized by this subparagraph, the Trustee shall be entitled to examine
books, records and premises of the Company, personally or by agent or attorney
at the expense of the Company and shall incur no liability of any kind by
reason of such inquiry or investigation; 

 

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

 

32 

 

 

 

 

(h)           Permissive
Rights of Trustee.  The permissive right of the Trustee to do things
enumerated in this Indenture shall not be construed as a duty;

 

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

 

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

 

(k)           Certificate
of Authorized Persons.  The Trustee may request that the Company deliver a
certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture.

 

 

SECTION 7.03.  Limitations
in Liability of Trustee.  

 

(a)           Trustee
not Liable for Recitals in Indenture or in Securities.  The recitals
contained herein and in the Securities (other than the Certificate of
Authentication on the Securities) shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the
same.

 

(b)           No
Representations by Trustee as to Validity or Indenture or of Securities.  The
Trustee makes no representations as to the validity or sufficiency of this Indenture
or of the Securities.

 

(c)           Trustee
not Accountable for Use of Securities or Proceeds.  The Trustee shall not
be accountable for the use or application by the Company of any of the
Securities or of the proceeds of such Securities, or for the use or application
of any monies paid over by the Trustee in accordance with any provision of this
Indenture or established pursuant to Section 2.01, or for the use or
application of any monies received by any paying agent other than the Trustee.

 

SECTION 7.04.  Trustee,
Paying Agent or Security Registrar may Own Securities.  The Trustee or any
paying agent or Security Registrar, in its individual or any other capacity,
may become the owner or pledgee of Securities with the same rights it would
have if it were not Trustee, paying agent or Security Registrar.

 

SECTION 7.05.  Monies
Received by Trustee to be Held in Trust without Interest.  Subject to the
provisions of Section 11.04, all monies received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which
they were received, but need not be segregated from other funds except to the
extent required by law.  The Trustee shall be under no liability for interest
on any monies received by it hereunder except such as it may agree in writing
with the Company to pay thereon.

 

33 

 

 

 

 

SECTION 7.06.  Compensation
and Reimbursement of Trustee. 

 

(a)           Trustee
Entitled to Compensation, Reimbursement and Indemnity.  The Company
covenants and agrees to pay to the Trustee from time to time, and the Trustee
shall be entitled to, reasonable compensation (which shall not be limited by
any provision of law in regard to the compensation of a trustee of an express
trust) for all services rendered by it in the execution of the trusts hereby created
and in the exercise and performance of any of the powers and duties hereunder
of the Trustee, and the Company will pay or reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or
made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the reasonable expenses and
disbursements of its counsel and agents and of all persons not regularly in its
employ) except any such expense, disbursement or advance as shall be determined
to have been caused by its own negligence, willful misconduct or bad faith. 
The Company also covenants to indemnify the Trustee (and its officers, agents,
directors and employees) for, and to hold it harmless against, any loss,
liability or expense incurred without negligence, willful misconduct or bad
faith on the part of the Trustee and arising out of or in connection with the
acceptance or administration of this trust, including the reasonable 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.

 

(b)           Obligations
to Trustee to be Secured by Lien prior to Securities.  The obligations of
the Company under this Section to compensate and indemnify the Trustee and to
pay or reimburse the Trustee for expenses, disbursements and advances shall
constitute additional indebtedness hereunder.  Such additional indebtedness
shall be secured by a lien prior to that of the Securities upon all property
and funds held or collected by the Trustee as such, except funds held in trust
for the benefit of the holders of particular Securities.

 

(c)           Nature
of Expenses.  Without prejudice to any other rights available to the
Trustee under applicable law, when the Trustee incurs expenses or renders
services in connection with an Event of Default, the expenses (including
reasonable charges and expenses of its counsel) and compensation for its
services are intended to constitute expenses of administration under applicable
federal or state bankruptcy, insolvency or similar law.

 

(d)           Survival
of Obligations.  The provisions of this Section 7.06 shall survive the
satisfaction and discharge of this Indenture or the appointment of a successor
trustee.

 

SECTION 7.07.  Trustee
May Rely on Certificate of Officers of Company.  Except as otherwise
provided in Section 7.01, whenever in the administration of the provisions of
this Indenture the Trustee shall deem it necessary or desirable that a matter
be proved or established prior to taking or suffering or omitting to take any
action hereunder, such matter (unless other evidence in respect thereof be
herein specifically prescribed) may, in the absence of bad faith on the part of
the Trustee, be deemed to be conclusively proved and established by an
Officers’ Certificate delivered to the Trustee and such certificate, in the
absence of bad faith on the part of the Trustee, shall be full warrant to the
Trustee for any action taken, suffered or omitted to be taken by it under the
provisions of this Indenture upon the faith thereof.

 

34 

 

 

 

 

SECTION 7.08.  Trustee
Must Eliminate Conflict or Resign.  If the Trustee has acquired or shall
acquire a conflicting interest within the meaning of the Trust Indenture Act,
the Trustee shall either eliminate such interest or resign, to the extent and
in the manner provided by, and subject to the provisions of, the Trust
Indenture Act and this Indenture.

 

SECTION 7.09.  Requirements
for Eligibility of Trustee.  There shall at all times be a Trustee with
respect to the Securities issued hereunder which shall at all times be a
corporation organized and doing business under the laws of the United States of
America or any State or Territory thereof or of the District of Columbia, or a corporation
or other person permitted to act as trustee by the Commission, authorized under
such laws to exercise corporate trust powers, having a combined capital and
surplus of at least 50 million dollars, and subject to supervision or
examination by Federal, State, Territorial, or District of Columbia authority. 
If such corporation publishes reports of condition at least annually, pursuant
to law or to the requirements of the aforesaid 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.  The
Company may not, nor may any person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee.  In
case at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, the Trustee shall resign immediately in the manner
and with the effect specified in Section 7.10.

 

SECTION 7.10.  Trustee.
 

 

(a)           Resignation
of Trustee and Appointment of Successor.  The Trustee or any successor
hereafter appointed, may at any time resign with respect to the Securities of
one or more series by giving written notice thereof to the Company and by
transmitting notice of resignation by mail, first class postage prepaid, to the
Securityholders of such series, as their names and addresses appear upon the
Security Register.  Upon receiving such notice of resignation, the Company
shall promptly appoint a successor trustee with respect to Securities of such
series by written instrument, in duplicate, executed by order of the Board of
Directors, one copy of which instrument shall be delivered to the resigning
Trustee and one copy to the successor trustee.  If no successor trustee shall
have been so appointed and have accepted appointment within 30 days after the
mailing of such notice of resignation, the resigning Trustee may petition at
the expense of the Company any court of competent jurisdiction for the
appointment of a successor trustee with respect to Securities of such series,
or any Securityholder of that series who has been a bona fide holder of a
Security or Securities for at least six months may, subject to the provisions
of Section 6.08, on behalf of himself and all others similarly situated,
petition any such court for the appointment of a successor trustee.  Such court
may thereupon after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.

 

(b)           Removal
of Trustee by Company or by Court on Securityholders’ Application.  In case
at any time any of the following shall occur: 

 

(1)           the
Trustee shall fail to comply with the provisions of Section 7.08 after written
request therefor by the Company or by any Securityholder who has been a bona
fide holder of a Security or Securities for at least six months; or 

35 

 

 

 

 

 

(2)           The
Trustee shall cease to be eligible in accordance with the provisions of Section
7.09 and shall fail to resign after written request therefor by the Company or
by any such Securityholder; or 

 

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

 

then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and
one copy to the successor trustee, or, subject to the provisions of Section
6.08, unless, with respect to subsection (b)(1) above, the Trustee’s duty to
resign is stayed as provided in Section 310(b) of the Trust Indenture Act, any
Securityholder who has been a bona fide holder of a Security or Securities for
at least six months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor trustee.  Such court may thereupon
after such notice, if any, as it may deem proper and prescribe, remove the
Trustee and appoint a successor trustee.

 

(c)           Removal
of Trustee by Holders of Majority in Principal Amount of Securities.  The
holders of a majority in aggregate principal amount of the Securities of any
series at the time outstanding may at any time remove the Trustee with respect
to such series and appoint a successor trustee.

 

(d)           Time
when Resignation or Removal of Trustee Effective.  Any resignation or
removal of the Trustee and appointment of a successor trustee with respect to
the Securities of a series pursuant to any of the provisions of this Section
shall become effective upon acceptance of appointment by the successor trustee
as provided in Section 7.11.

 

(e)           One
Trustee for each Series.  Any successor trustee appointed pursuant to this
Section may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with
respect to the Securities of any particular series.

 

(f)            Removal
of Trustee by the Company.  So long as no Event of Default has occurred and
is continuing with respect to the Securities of a series, the Company may at
any time remove the Trustee with respect to such series and appoint a successor
trustee. 

 

SECTION 7.11.  Successor
Trustee.  

 

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

36 

 

 

 

 

its
charges, execute and deliver an instrument transferring to such successor
trustee all the rights, powers, and trusts of the retiring Trustee and shall
duly assign, transfer and deliver to such successor trustee all property and
money held by such retiring Trustee hereunder, subject to any prior lien
provided for in Section 7.06(b).

 

(b)           Trustee
with Respect to Less than all Series.  In case of the appointment hereunder
of a successor trustee with respect to the Securities of one or more (but not
all) series, the Company, the retiring Trustee and each successor trustee with
respect to the Securities of one or more series shall execute and deliver an
indenture supplemental hereto wherein each successor trustee shall accept such
appointment and which (1) shall contain such provisions as shall be necessary
or desirable to transfer and confirm to, and to vest in, each successor trustee
all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such
successor trustee relates, (2) shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be
vested in the retiring Trustee, and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, it being
understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust, that each such Trustee
shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee and that no
Trustee shall be responsible for any act or failure to act on the part of any
other Trustee hereunder; and upon the execution and delivery of such
supplemental indenture the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein, such retiring Trustee shall
with respect to the Securities of that or those series to which the appointment
of such successor trustee relates have no further responsibility for the
exercise of rights and powers or for the performance of the duties and
obligations vested in the Trustee under this Indenture, and each such successor
trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such
successor trustee relates; but, on request of the Company or any successor
trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor trustee, to the extent contemplated by such supplemental indenture,
the property and money held by such retiring Trustee hereunder with respect to
the Securities of that or those series to which the appointment of such
successor trustee relates.

 

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

 

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

 

(e)           Notice
of Succession.  Upon acceptance of appointment by a successor trustee as
provided in this Section, the Company shall transmit notice of the succession
of such 

37 

 

 

 

 

trustee
hereunder to the Securityholders, as their names and addresses appear upon the
Security Register.  If the Company fails to transmit such notice within ten
days after acceptance of appointment by the successor trustee, the successor
trustee shall cause such notice to be transmitted at the expense of the
Company.

 

SECTION 7.12.  Successor
to Trustee by Merger, Consolidation of Succession to Business.  Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be qualified under the provisions of the Trust Indenture Act
and eligible under the provisions of Section 7.09, without the execution or
filing of any paper or any further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding.  In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee
may adopt such authentication and deliver the Securities so authenticated with
the same effect as if such successor Trustee had itself authenticated such
Securities.

 

SECTION 7.13.  Limitations
on Rights of Trustee as a Creditor to Obtain Payment of Certain Claims.  If
and when the Trustee shall become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of
the Trust Indenture Act regarding collection of claims against the Company (or
any other obligor upon the Securities).

 

ARTICLE VIII.

CONCERNING THE SECURITYHOLDERS 

 

SECTION 8.01.  Evidence
of Action by Securityholders.  Whenever in this Indenture it is provided
that the holders of a majority or specified percentage in aggregate principal
amount of the Securities of a particular series may take any action (including
the making of any demand or request, the giving of any notice, consent or
waiver or the taking of any other action), the fact that at the time of taking
any such action the holders of such majority or specified percentage of that
series have joined therein may be evidenced by any instrument or any number of
instruments of similar tenor executed by such holders of Securities of that
series in person or by agent or proxy appointed in writing.

 

If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent,
waiver or other action, the Company may, at its option, as evidenced by an
Officers’ Certificate, fix in advance a record date for such series for the
determination of Securityholders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the
Company shall have no obligation to do so.  If such a record date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or
other action may be given before or after the record date, but only the
Securityholders of record at the close of business on the record date shall be
deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of outstanding Securities of that
series have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that
purpose the 

38 

 

 

 

 

outstanding Securities of that
series shall be computed as of the record date; provided that no such
authorization, agreement or consent by such Securityholders on the record date
shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than six months after the record date.

 

In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred
in any direction, consent or waiver under this Indenture, the principal amount
of an Original Issue Discount Security that shall be deemed to be outstanding
for such purposes shall be the amount of the principal thereof that would be
due and payable as of the date of such determination upon a declaration of acceleration
of the maturity thereof pursuant to Section 6.01.

 

SECTION 8.02.  Proof
of Execution of Instruments and of Holding of Securities.  Subject to the
provisions of Section 7.01, proof of the execution of any instrument by a
Securityholder (such proof will not require notarization) or his agent or proxy
and proof of the holding by any person of any of the Securities shall be
sufficient if made in the following manner: 

 

(a)           The fact and date of the execution by any such person of
any instrument may be proved in any reasonable manner acceptable to the
Trustee.

 

(b)           The ownership of Securities shall be proved by the
Security Register of such Securities or by a certificate of the Security
Registrar thereof.

 

(c)           The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.

 

SECTION 8.03.  Who
may be Deemed Owners of Securities.  Prior to the due presentment for
registration of transfer of any Security, the Company, the Trustee, any paying
agent and any Security Registrar may deem and treat the person in whose name
such Security shall be registered upon the books of the Company as the absolute
owner of such Security (whether or not such Security shall be overdue and
notwithstanding any notice of ownership or writing thereon made by anyone other
than the Security Registrar) for the purpose of receiving payment of or on
account of the principal of and premium, if any, and (subject to Section 2.03)
interest on such Security and for all other purposes; and neither the Company
nor the Trustee nor any paying agent nor any Security Registrar shall be
affected by any notice to the contrary.

 

SECTION 8.04.  Securities
Owned by Company or Affiliated Persons Disregarded for Certain Purposes.  In
determining whether the holders of the requisite aggregate principal amount of
Securities of a particular series have concurred in any direction, consent or
waiver under this Indenture, Securities of that series which are owned by the
Company or any other obligor on the Securities of that series or by any person
directly or indirectly controlling or controlled by or under common control
with the Company or any other obligor on the Securities of that series shall be
disregarded and deemed not to be outstanding for the purpose of any such
determination, except that for the purpose of determining whether the Trustee
shall be protected in relying on any such direction, consent or waiver, only
Securities of such series which the Trustee actually knows are so owned shall
be so disregarded.  Securities so owned which have been pledged in good faith
may be regarded as outstanding for the purposes of this Section, if the 

39 

 

 

 

 

pledgee
shall establish to the satisfaction of the Trustee the pledgee’s right so to
act with respect to such Securities and that the pledgee is not a person
directly or indirectly controlling or controlled by or under direct or indirect
common control with the Company or any such other obligor.  In case of a
dispute as to such right, any decision by the Trustee taken upon the advice of
counsel shall be full protection to the Trustee.

SECTION 8.05.  Instruments
Executed by Securityholders Binding on Future Holders.  At any time prior
to (but not after) the evidencing to the Trustee, as provided in Section 8.01,
of the taking of any action by the holders of the majority or percentage in
aggregate principal amount of the Securities of a particular series specified
in this Indenture in connection with such action, any holder of a Security of
that series which is shown by the evidence to be included in the Securities the
holders of which have consented to such action may, by filing written notice
with the Trustee, and upon proof of holding as provided in Section 8.02, revoke
such action so far as concerns such Security.  Except as aforesaid any such
action taken by the holder of any Security shall be conclusive and binding upon
such holder and upon all future holders and owners of such Security, and of any
Security issued in exchange therefor, on registration of transfer thereof or in
place thereof, irrespective of whether or not any notation in regard thereto is
made upon such Security.  Any action taken by the holders of the majority or
percentage in aggregate principal amount of the Securities of a particular
series specified in this Indenture in connection with such action shall be
conclusively binding upon the Company, the Trustee and the holders of all the
Securities of that series.

 

ARTICLE IX.

SUPPLEMENTAL INDENTURES 

 

SECTION 9.01.  Supplemental
Indenture Without Consent of Securityholders.  In addition to any
supplemental indenture otherwise authorized by this Indenture, the Company,
when authorized by a Board Resolution, and the Trustee may from time to time
and at any time enter into an indenture or indentures supplemental hereto
(which shall conform to the provisions of the Trust Indenture Act as then in
effect), without the consent of the Securityholders, for one or more of the
following purposes: 

 

(a)           to evidence the succession of another person to the
Company or a successor to the Company, and the assumption by any such successor
of the covenants of the Company contained herein or otherwise established with
respect to the Securities; or 

 

(b)           to add to the covenants of the Company such further
covenants, restrictions, conditions or provisions for the protection of the
holders of the Securities of all or any series, and to make the occurrence, or
the occurrence and continuance, of a default in any of such additional
covenants, restrictions, conditions or provisions a default or an Event of
Default with respect to such series permitting the enforcement of all or any of
the several remedies provided in this Indenture as herein set forth; provided,
however, that in respect of any such additional covenant, restriction,
condition or provision such supplemental indenture may provide for a particular
period of grace after default (which period may be shorter or longer than that
allowed in the case of other defaults) or may provide for an immediate
enforcement upon such default or may limit the remedies available to the
Trustee upon such default or may limit the 

40 

 

 

 

 

right of the holders of a majority in aggregate
principal amount of the Securities of such series to waive such default; or 

 

(c)           to cure any ambiguity or to correct or supplement any
provision contained herein or in any supplemental indenture which may be
defective or inconsistent with any other provision contained herein or in any
supplemental indenture, or to make such other provisions in regard to matters
or questions arising under this Indenture as shall not be inconsistent with the
provisions of this Indenture and shall not adversely affect the rights of the holders
of the Securities of any series which are outstanding in any material respect;
or 

 

(d)           to change or eliminate any of the provisions of this
Indenture or to add any new provision to this Indenture; provided, however,
that such change, elimination or addition shall become effective only as to
Securities issued pursuant to or subsequent to such supplemental indenture
except to the extent such change, elimination or addition does not adversely
affect the rights of any Securityholder of Outstanding Securities in any
material respect; or 

 

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

 

(f)            to add any additional Events of Default with respect to
all or any series of outstanding Securities; or 

 

(g)           to add guarantees with respect to debt securities or to
release a guarantor from guarantees in accordance with the terms of the
applicable series of Securities; or

 

(h)           to secure a series of Securities by conveying, assigning,
pledging or mortgaging property or assets to the Trustee as collateral security
for such series of Securities; or 

 

(i)            to provide for uncertificated Securities in addition to
or in place of certificated Securities; or

 

(j)            to provide for the authentication and delivery of bearer
securities and coupons appertaining thereto representing interest, if any,
thereon and for the procedures for the registration, exchange and replacement
thereof and for the giving of notice to, and the solicitation of the vote or
consent of, the holders thereof, and for any other matters incidental thereto;
or 

 

(k)           evidence and provide for the acceptance of appointment
hereunder by a separate or successor 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 Trustee, pursuant to the requirements
of Article Seven; or 

 

(l)            to change any place or places where (1) the principal of
and premium, if any, and interest, if any, on all or any series of Securities
shall be payable, (2) all or any series of Securities may be surrendered for
registration of transfer, (3) all or any series of Securities may be
surrendered for exchange and (4) notices and demands to or upon the Company in
respect of 

41 

 

 

 

 

all or any series of Securities and this Indenture may
be served; provided, however, that any such place shall be located in New York,
New York or be the principal office of the Company; or 

 

(m)          to provide for the payment by the Company of additional
amounts in respect of certain taxes imposed on certain holders and for the
treatment of such additional amounts as interest and for all matters incidental
thereto; or 

 

(n)           to provide for the issuance of Securities denominated in
a currency other than Dollars or in a composite currency and for all matters
incidental thereto; or

 

(o)           to comply with any requirements of the Commission or the
Trust Indenture Act of 1939, as amended.

 

Without limiting the generality of the foregoing, if
the Trust Indenture Act as in effect at the date of the execution and delivery
of this Indenture or at any time thereafter shall be amended and 

 

(x)           if any such amendment shall require one
or more changes to any provisions hereof or the inclusion herein of any
additional provisions, or shall by operation of law be deemed to effect such
changes or incorporate such provisions by reference or otherwise, this
Indenture shall be deemed to have been amended so as to conform to such
amendment to the Trust Indenture Act, and the Company and the Trustee may,
without the consent of any Securityholders, enter into a supplemental indenture
hereto to effect or evidence such changes or additional provisions; or 

 

(y)           if any such amendment shall permit one
or more changes to, or the elimination of, any provisions hereof which, at the
date of the execution and delivery hereof or at any time thereafter, are
required by the Trust Indenture Act to be contained herein, this Indenture
shall be deemed to have been amended to effect such changes or elimination, and
the Company and the Trustee may, without the consent of any Securityholders,
enter into a supplemental indenture hereto to effect such changes or
elimination; or 

 

(z)           if, by reason of any such amendment, one
or more provisions which, at the date of the execution and delivery hereof or
at any time thereafter, are required by the Trust Indenture Act to be contained
herein shall be deemed to be incorporated herein by reference or otherwise, or
otherwise made applicable hereto, and shall no longer be required to be
contained herein, the Company and the Trustee may, without the consent of any
Securityholders, enter into a supplemental indenture hereto to effect the
elimination of such provisions.

 

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

 

Any supplemental indenture authorized by the
provisions of this Section may be executed by the Company and the Trustee
without the consent of the holders of any of the Securities at the time
outstanding, notwithstanding any of the provisions of Section 9.02.

 

42 

 

 

 

 

SECTION 9.02.  Supplemental
Indenture with Consent of Securityholders.  With the consent (evidenced as
provided in Section 8.01) of the holders of not less than a majority in
aggregate principal amount of the Securities of each series affected by such
supplemental indenture or indentures at the time outstanding, the Company, when
authorized by a Board Resolution, and the Trustee may from time to time and at
any time enter into an indenture or indentures supplemental hereto (which shall
conform to the provisions of the Trust Indenture Act as then in effect) for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner the rights of the holders of the Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall (i) extend the fixed maturity of any Securities of any series,
or reduce the principal amount thereof, or reduce the rate or extend the time
of payment of interest thereon, or reduce any premium payable upon the redemption
thereof, or reduce the amount of the principal of an Original Issue Discount
Security that would be due and payable upon a declaration of acceleration of
the maturity thereof pursuant to Section 6.01, without the consent of the
holders of each Security then outstanding and affected, (ii) reduce the
aforesaid percentage of Securities, the holders of which are required to
consent to any such supplemental indenture, or reduce the percentage of
Securities, the holders of which are required to waive any default and its
consequences, without the consent of the holder of each Security then
outstanding and affected thereby, or (iii) modify any provision of Section
6.01(c) (except to increase the percentage of principal amount of securities
required to rescind and annul any declaration of amounts due and payable under
the Securities) without the consent of the holders of each Security then
outstanding and affected thereby.

 

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

 

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

 

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

 

Promptly after the execution by the Company and the
Trustee of any supplemental indenture pursuant to the provisions of this
Section, the Trustee shall transmit by mail, first class postage prepaid, a
notice, setting forth in general terms the substance of such supplemental
indenture, to the Securityholders of all series affected thereby as their names
and addresses appear upon the Security Register.  Any failure of the Trustee to
mail such notice, or any defect 

43 

 

 

 

 

therein, shall not, however, in
any way impair or affect the validity of any such supplemental indenture.

 

SECTION 9.03.  Effect
of Supplemental Indentures.  Upon the execution of any supplemental
indenture pursuant to the provisions of this Article or of Section 10.01, this
Indenture shall, with respect to such series, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of
rights, obligations, duties and immunities under this Indenture of the Trustee,
the Company and the holders of Securities of the series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

 

SECTION 9.04.  Securities
may Bear Notation of Changes by Supplemental Indentures.  Securities of any
series, affected by a supplemental indenture, authenticated and delivered after
the execution of such supplemental indenture pursuant to the provisions of this
Article, Article Two or Article Seven or of Section 10.01, may bear a notation
in form approved by the Company, provided such form meets the requirements of
any exchange upon which such series may be listed, as to any matter provided
for in such supplemental indenture.  If the Company shall so determine, new
Securities of that series so modified as to conform, in the opinion of the
Board of Directors, to any modification of this Indenture contained in any such
supplemental indenture may be prepared by the Company, authenticated by the
Trustee and delivered in exchange for the Securities of that series then
outstanding.

 

SECTION 9.05.  Opinion
of Counsel and Officers’ Certificate.  The Trustee, subject to the
provisions of Section 7.01, shall receive, and shall be fully protected in
relying upon, an Opinion of Counsel and Officers’ Certificate stating that
any supplemental indenture executed pursuant to this Article is authorized or permitted
by, and conforms to, the terms of this Article and that it is proper for the
Trustee under the provisions of this Article to join in the execution thereof.

 

ARTICLE X.

CONSOLIDATION, MERGER AND SALE 

 

SECTION 10.01.  Consolidations
or Mergers of Company and Sales or Conveyances of Property of Company.  Nothing
contained in this Indenture or in any of the Securities shall prevent any
consolidation or merger of the Company with or into any other corporation or
corporations (whether or not affiliated with the Company), or successive
consolidations or mergers in which the Company or its successor or successors
shall be a party or parties, or shall prevent any sale, conveyance, transfer or
other disposition of all or substantially all of the property of the Company or
its successor or successors as an entirety, or substantially as an entirety, to
any other corporation (whether or not affiliated with the Company or its
successor or successors) authorized to acquire and operate the same; provided,
however, the Company hereby covenants and agrees that, upon any such
consolidation, merger, sale, conveyance, transfer or other disposition, the due
and punctual payment of the principal of (premium, if any) and interest on all
of the Securities of all series in accordance with the terms of each series,
according to their tenor, and the due and punctual performance and observance
of all the covenants and conditions 

44 

 

 

 

 

of
this Indenture with respect to each series or established with respect to such
series pursuant to Section 2.01 to be kept or performed by the Company, shall
be expressly assumed, by supplemental indenture (which shall conform to the
provisions of the Trust Indenture Act as then in effect) satisfactory in form
to the Trustee executed and delivered to the Trustee by the entity formed by
such consolidation, or into which the Company shall have been merged, or by the
entity which shall have acquired such property.

 

SECTION 10.02.  Successor
to Company. 

 

(a)           Rights
and Duties of Successor Company.  In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition and upon the assumption
by the successor corporation, by supplemental indenture, executed and delivered
to the Trustee and satisfactory in form to the Trustee, of the due and punctual
payment of the principal of and premium, if any, and interest on all of the
Securities of all series outstanding and the due and punctual performance of
all of the covenants and conditions of this Indenture or established with
respect to each series of the Securities pursuant to Section 2.01 to be kept or
performed by the Company with respect to each series, 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
thereupon (provided, that in the case of a lease, the term of the lease is at
least as long as the longest maturity of any Securities outstanding at such
time) the predecessor corporation shall be relieved of all obligations and
covenants 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 or any other predecessor obligor on the Securities, any
or all of the Securities issuable hereunder which theretofore shall not have
been signed by the Company and delivered to the Trustee; and, upon the order of
such successor company, instead of the Company, and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver any Securities which previously shall have been
signed and delivered by the officers of the predecessor Company to the Trustee
for authentication, and any Securities which such successor corporation
thereafter shall cause to be signed and delivered to the 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.

 

(b)           Appropriate
Changes may be made in Phraseology and Form of Securities.  In case of any
such consolidation, merger, sale, conveyance, transfer or other disposition
such changes in phraseology and form (but not in substance) may be made in the
Securities thereafter to be issued as may be appropriate.

 

(c)           Company
may Consolidate or Merge into Itself or Acquire Properties of Other Corporations. 
Nothing contained in this Indenture or in any of the Securities shall prevent
the Company from merging into itself or acquiring by purchase or otherwise all
or any part of the property of any other corporation (whether or not affiliated
with the Company).

 

SECTION 10.03.  Opinion
of Counsel.  The Trustee, subject to the provisions of Section 7.01, shall
receive an Opinion of Counsel as conclusive evidence that any such
consolidation, 

45 

 

 

 

 

merger,
sale, conveyance, transfer or other disposition, and any such assumption,
comply with the provisions of this Article.

 

ARTICLE XI.

DEFEASANCE AND CONDITIONS TO DEFEASANCE; UNCLAIMED MONIES 

 

SECTION 11.01.  Defeasance
and Conditions to Defeasance. 

 

(a)           Securities
may be Defeased.  Securities of a series may be defeased in accordance with
their terms and, unless the Company Order or supplemental indenture
establishing the series otherwise provides, in accordance with this Article.

 

(b)           Covenant
and Legal Defeasance.  The Company at any time may terminate as to a series
its obligations, if any, under any restrictive covenants which may be
applicable to a particular series, to the extent provided for in a Company
order or supplemental indenture relating to such series (“covenant
defeasance”).  The Company at any time may terminate as to a series all of its
obligations for such series under this Indenture (“legal defeasance”), except
that the Company’s obligations in Sections 2.05, 2.07, 4.02, 7.06, 7.10 and
11.04 shall survive until the Securities of the series are no longer
outstanding and, thereafter, the Company’s obligations in Sections 7.06, 7.10
and 11.04 shall survive.  The Company may exercise its legal defeasance option
notwithstanding its prior exercise of its covenant defeasance option. 

 

(c)           Conditions
for Defeasance.  The Company shall exercise as to a series its legal
defeasance option or its covenant defeasance option if: 

 

(1)                
The Company irrevocably deposits
in trust with the Trustee or another trustee (x) money in an amount which shall
be sufficient; or (y) Eligible Obligations the principal of and the interest on
which when due, without regard to reinvestment thereof, will provide moneys,
which, together with the money, if any, deposited or held by the Trustee or
such other trustee, shall be sufficient; or (z) a combination of money and
Eligible Obligations which shall be sufficient, to pay the principal of and
premium, if any, and interest, if any, due and to become due on such Securities
on or prior to maturity; 

 

(2)                
the Company delivers to the
Trustee a Certificate to the effect that the requirements set forth in clause
(1) above have been satisfied; 

 

(3)                
immediately after the deposit no
Default exists; and 

 

(4)                
the Company delivers to the
Trustee an Opinion of Counsel to the effect that holders of the series will not
recognize income, gain or loss for Federal income tax purposes as a result of
the defeasance but will realize income, gain or loss on the Securities,
including payments of interest thereon, in the same amounts and in the same manner
and at the same time as would have been the case if such defeasance had not
occurred and which, in the case of legal defeasance, shall be (x) accompanied
by a ruling 

46 

 

 

 

 

of the Internal Revenue Service issued to the Company
or (y) based on a change in law or regulation occurring after the date hereof;
and 

 

(5)                
the deposit specified in paragraph
(1) above shall not result in the Company, the Trustee or the trust created in
connection with such defeasance being deemed an “investment company” under the
Investment Company Act of 1940, as amended.

 

(d)           Event
of Default Following Covenant Defeasance.  In the event (i) the Company
exercises its option to effect a covenant defeasance with respect to the
Securities of any series, (ii) the Securities of that series are thereafter
declared due and payable pursuant to Section 6.01(b) hereof because of the
occurrence of any Event of Default that results from an event, act or condition
which does not arise from any covenant that has been defeased, and (iii) the
amount of money and securities on deposit with the Trustee are not sufficient
to pay amounts due on the Securities of that series at the time of the
acceleration resulting from such Event of Default, the Company shall be liable
for any such deficiency. 

 

(e)           Effect
of Defeasance.  Upon the satisfaction of each of the foregoing conditions,
the obligations of the Company under the restrictive covenants defeased (in the
case of covenant defeasance), and all obligations of the Company except as set
forth in paragraph (b) of this Section 11.01 (in the case of legal defeasance),
shall be terminated with respect to such series.  

 

SECTION 11.02.  Application
by Trustee of Funds Deposited for Payment of Securities.  All monies or
Eligible Obligations deposited with the Trustee pursuant to Section 11.01 shall
be held in trust and shall be available for payment as due, either directly or
through any paying agent (including the Company acting as its own paying
agent), to the holders of the particular series of Securities for the payment
or redemption of which such monies or Eligible Obligations have been deposited
with the Trustee.

 

SECTION 11.03.  Repayment
of Monies held by Paying Agent.  In connection with the satisfaction and
discharge of this Indenture all monies or Eligible Obligations then held by any
paying agent under the provisions of this Indenture shall, upon demand of the
Company, be paid to the Trustee and thereupon such paying agent shall be
released from all further liability with respect to such monies or Eligible
Obligations.

 

SECTION 11.04.  Repayment
of Monies held by Trustee.  Any monies or Eligible Obligations deposited
with any paying agent or the Trustee, or then held by the Company, in trust for
payment of principal of or premium or interest on the Securities of a
particular series that are not applied but remain unclaimed by the holders of
such Securities for at least two years after the date upon which the principal
of (and premium, if any) or interest on such Securities shall have respectively
become due and payable, upon the written request of the Company and unless otherwise
required by mandatory provisions of applicable escheat or abandoned or
unclaimed property law, shall be repaid to the Company on May 31 of each year
or (if then held by the Company) shall be discharged from such trust; and
thereupon the paying agent and theTrustee shall be released from all further
liability with respect to such monies or Eligible 

47 

 

 

 

 

Obligations,
and the holder of any of the Securities entitled to receive such payment shall
thereafter, as an unsecured general creditor, look only to the Company for the
payment thereof.

 

SECTION 11.05.  Delivery
of Officers’ Certificate and Opinion of Counsel.  In connection with any
satisfaction and discharge of this Indenture pursuant to this Article Eleven,
the Company shall deliver to the Trustee an Officers’ Certificate and an
Opinion of Counsel to the effect that all conditions precedent in this
Indenture provided for relating to such satisfaction and discharge have been
complied with.

 

ARTICLE XII.

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  

SECTION 12.01.  Incorporators,
Stockholders, Officers and Directors of Company Exempt from Individual
Liability.  No recourse under or upon any obligation, covenant or agreement
of this Indenture, or of any Security, or for any claim based thereon or otherwise
in respect thereof, shall be had against any incorporator, stockholder, officer
or director, past, present or future as such, of the Company or of any
predecessor or successor corporation, either directly or through the Company or
any such predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment
or penalty or otherwise; it being expressly understood that this Indenture and
the obligations issued hereunder are solely corporate obligations, and that no
such personal liability whatever shall attach to, or is or shall be incurred
by, the incorporators, stockholders, officers or directors as such, of the
Company or of any predecessor or successor corporation, or any of them, because
of the creation of the indebtedness hereby authorized, or under or by reason of
the obligations, covenants or agreements contained in this Indenture or in any
of the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against,
every such incorporator, stockholder, officer or director as such, because of
the creation of the indebtedness hereby authorized, or under or by reason of
the obligations, covenants or agreements contained in this Indenture or in any
of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this
Indenture and the issuance of such Securities.

 

ARTICLE XIII.

MISCELLANEOUS PROVISIONS 

 

SECTION 13.01.  Successors
and Assigns of Company Bound by Indenture.  All the covenants,
stipulations, promises and agreements in this Indenture contained by or on behalf
of the Company shall bind its successors and assigns, whether so expressed or
not.

 

SECTION 13.02.  Acts
of Board, Committee or Officer of Successor Company.  Any act or proceeding
by any provision of this Indenture authorized or required to be done or
performed by any board, committee or officer of the Company shall and may be
done and performed with like force and effect by the corresponding board,
committee or officer of any corporation that shall at the time be the lawful
sole successor of the Company.

 

48 

 

 

 

 

SECTION 13.03.  Headings. 
The Article and Section Headings in this Indenture and the Table of Contents
are for convenience only and shall not affect the construction hereof.

 

SECTION 13.04.  Notices. 
Except as otherwise expressly provided herein any notice or demand which by any
provision of this Indenture is required or permitted to be given or served by
the Trustee or by the holders of Securities to or on the Company may be given
or served by being deposited first class postage prepaid in a post office
letter box addressed (until another address is filed in writing by the Company
with the Trustee), as follows: United States Cellular Corporation, 8410 W. Bryn
Mawr, Chicago, Illinois 60631, Attention: Chairman, with a copy to Sidley
Austin LLP, One South Dearborn Street, Chicago, Illinois, 60603, Attention: Stephen
P. Fitzell, Esq.  Any notice, election, request or demand by the Company or any
Securityholder to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate
Trust Office of the Trustee.  

 

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

 

SECTION 13.05.  Governing
Law.  THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THIS INDENTURE AND THE SECURITIES, INCLUDING WITHOUT LIMITATION,
SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK
CIVIL PRACTICE LAWS AND RULES 327(B).

 

SECTION 13.06.  Officers’
Certificate and Opinion of Counsel. 

 

(a)           When
Required.  Upon any application or demand by the Company to the Trustee to
take any action under any of the provisions of this Indenture, the Company
shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent provided for in this Indenture relating to the proposed
action have been complied with and an Opinion of Counsel stating that in the
opinion of such counsel all such conditions precedent have been complied with.

 

(b)           Statements
to be Included in each Certificate or Opinion.  Each certificate or opinion
provided for in this Indenture and delivered to the Trustee with respect to
compliance 

49 

 

 

 

 

with
a condition or covenant in this Indenture (other than the certificate provided
pursuant to Section 5.03(d) of this Indenture) shall include (1) a statement
that the person making such certificate or opinion has read such covenant or
condition; (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 such
person, he or she has made such examination or investigation as is necessary to
enable him or her to express an informed opinion as to whether or not such
covenant or condition has been complied with; and (4) a statement as to whether
or not, in the opinion of such person, such condition or covenant has been
complied with.

 

SECTION 13.07.  Payments
Due on Non-Business Days.  Except as provided pursuant to Section 2.01
pursuant to a Company Order, or established in one or more indentures
supplemental to this Indenture, in any case where the date of maturity of
principal or an Interest Payment Date of any Security or the date of
redemption, purchase or repayment of any Security shall not be a Business Day
then payment of interest or principal (and premium, if any) may be made on the
next succeeding Business Day with the same force and effect as if made on the
nominal date of maturity or redemption, and no interest shall accrue for the
period after such nominal date.

 

SECTION 13.08.  Provisions
Required by Trust Indenture Act of 1939.  If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with the duties
imposed by the Trust Indenture Act, such imposed duties shall control.

 

SECTION 13.09.  Execution
in Counterparts.  This Indenture may be executed in any number of
counterparts, each of which shall be an original; but such counterparts shall
together constitute but one and the same instrument.

 

SECTION 13.10.  Separability
of Indenture Provisions.  In case any one or more of the provisions
contained in this Indenture or in the Securities of any series shall for any reason
be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other
provisions of this Indenture or of such Securities, but this Indenture and such
Securities shall be construed as if such invalid or illegal or unenforceable
provision had never been contained herein or therein.

 

SECTION 13.11.  Successors
and Assigns.  The Company will have the right at all times to assign any of
its rights or obligations under the Indenture to a direct or indirect wholly
owned subsidiary of the Company; provided that, in the event of any such
assignment, the Company will remain liable for all such obligations.  Subject
to the foregoing, this Indenture is binding upon and inures to the benefit of the
parties thereto and their respective successors and assigns.  This Indenture
may not otherwise be assigned by the parties thereto.

 

SECTION 13.12.  Securities
in Foreign Currencies.  Whenever this Indenture provides for any action by,
or the determination of any rights of, holders of Securities of any series in
which not all of such Securities are denominated in the same currency, in the
absence of any provision to the contrary in the form of Security of any
particular series, any amount in respect of any Security denominated in a
currency other than Dollars shall be treated for any such action or
determination of rights as that amount of Dollars that could be obtained for
such amount on such 

50 

 

 

 

 

reasonable
basis of exchange and as of the record date with respect to Securities of such
series (if any) for such action or determination of rights (or, if there shall
be no applicable record date, such other date reasonably proximate to the date
of such action or determination of rights) as the Company may specify in a
written notice to the Trustee. 

 

SECTION 13.13.  Treatment
of the Securities as Debt.  It is intended that the Securities will be
treated as indebtedness and not as equity for federal income tax purposes.  The
provisions of this Indenture shall be interpreted to further this intention. 

 

SECTION 13.14.  Waiver
of Jury Trial.  EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

SECTION 13.15.  Force
Majeure.  In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including,
without limitation, strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent
with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.

 

ARTICLE XIV.

SUBORDINATION OF SECURITIES

 

SECTION 14.01.  Subordination
Terms.  The payment by the Company of the principal of, premium, if any,
and interest on any series of Securities issued hereunder shall be subordinated
to the extent set forth in an indenture supplemental hereto relating to such
Securities.

51 

 

 

 

  

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

  
	
    

  	
    

  	
    

  	
    

  
	
  UNITED STATES
  CELLULAR CORPORATION

  	
    

  
	
    

  	
    

  	
    

  	
    

  
	
  By:

  	
  /s/ LeRoy T.
  Carlson,
  Jr.                        

  	
    

  
	
    

  	
  Name:

  	
  LeRoy T.
  Carlson, Jr.

  	
    

  
	
    

  	
  Title:

  	
  Chairman

  	
    

  
	
    

  	
    

  	
    

  	
    

  
	
  By:

  	
  /s/ Kenneth R. Meyers                             

  	
    

  
	
    

  	
  Name:

  	
  Kenneth R.
  Meyers

  	
    

  
	
    

  	
  Title:

  	
  President and
  Chief Executive Officer

  	
    

  
	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

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

  
	
    

  	
    

  	
    

  	
    

  
	
  By:

  	
  /s/ Lawrence M.
  Kusch                         

  	
    

  
	
    

  	
  Name:

  	
  Lawrence M.
  Kusch

  	
    

  
	
    

  	
  Title:

  	
  Vice President 

  	
    

  
	
    

  	
    

  	
    

  	
    

  
	
    

  	
    

  	
    

  	
    

  
	
  SIGNATURE PAGE TO INDENTURE

  
	
  RE SUBORDINATED DEBT

  

 

52

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