Document:

slr_ex43

 

 

 

Exhibit 4.3

 

SOLITARIO
ZINC CORP.

TO

 

 

Trustee

Indenture

Dated
as of
            ,
20    

Subordinated
Debt Securities

 

TABLE
OF CONTENTS

 

	
 

	
 

	
 

	
 

	
 

	
 

	

  

	
 

	

  

	

Page

	
 

	
 

	

ARTICLE
ONE - DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION

	

  

	

1

	

SECTION 101.

	

  

	

Definitions

	

  

	

1

	

SECTION 102.

	

  

	

Compliance
Certificates and Opinions

	

  

	

11

	

SECTION 103.

	

  

	

Form of
Documents Delivered to Trustee

	

  

	

12

	

SECTION
104.

	

  

	

Acts of
Holders

	

  

	

13

	

SECTION
105.

	

  

	

Notices,
etc., to Trustee and Company

	

  

	

14

	

SECTION
106.

	

  

	

Notice
to Holders; Waiver

	

  

	

15

	

SECTION
107.

	

  

	

Counterparts;
Effect of Headings and Table of Contents

	

  

	

16

	

SECTION
108.

	

  

	

Successors
and Assigns

	

  

	

16

	

SECTION
109.

	

  

	

Severability
Clause

	

  

	

16

	

SECTION
110.

	

  

	

Benefits
of Indenture

	

  

	

16

	

SECTION
111.

	

  

	

Governing
Law

	

  

	

16

	

SECTION
112.

	

  

	

Legal
Holidays

	

  

	

16

	

SECTION
113.

	

  

	

Limited
Liability; Immunity of Stockholders, Directors, Officers and Agents
of the Company

	

  

	

16

	

SECTION
114.

	

  

	

Conflict
with Trust Indenture Act

	

  

	

17

	
 

	
 

	

ARTICLE
TWO - SECURITIES FORMS

	

  

	

17

	

SECTION
201.

	

  

	

Forms
of Securities

	

  

	

17

	

SECTION
202.

	

  

	

Form of
Trustee's Certificate of Authentication

	

  

	

18

	

SECTION
203.

	

  

	

Securities
Issuable in Global Form

	

  

	

18

	
 

	
 

	

ARTICLE
THREE - THE SECURITIES

	

  

	

19

	

SECTION
301.

	

  

	

Amount
Unlimited; Issuable in Series

	

  

	

19

	

SECTION
302.

	

  

	

Denominations

	

  

	

22

	

SECTION
303.

	

  

	

Execution,
Authentication, Delivery and Dating

	

  

	

22

	

SECTION
304.

	

  

	

Temporary
Securities

	

  

	

25

	

SECTION
305.

	

  

	

Registration,
Registration of Transfer, Conversion and Exchange

	

  

	

27

	

SECTION
306.

	

  

	

Mutilated,
Destroyed, Lost and Stolen Securities

	

  

	

31

	

SECTION
307.

	

  

	

Payment
of Interest; Interest Rights Preserved

	

  

	

32

	

SECTION
308.

	

  

	

Persons
Deemed Owners

	

  

	

34

	

SECTION
309.

	

  

	

Cancellation

	

  

	

34

	

SECTION
310.

	

  

	

Computation
of Interest

	

  

	

35

	

SECTION
311.

	

  

	

CUSIP
Numbers

	

  

	

35

	
 

	
 

	

ARTICLE
FOUR - SATISFACTION AND DISCHARGE

	

  

	

35

	

SECTION
401.

	

  

	

Satisfaction
and Discharge of Indenture

	

  

	

35

	

SECTION
402.

	

  

	

Application
of Trust Funds

	

  

	

36

 

(i)

 

 

 

 

	
 

	
 

	
 

	
 

	
 

	

ARTICLE
FIVE - REMEDIES

	

  

	

37

	

SECTION
501.

	

  

	

Events
of Default

	

  

	

37

	

SECTION
502.

	

  

	

Acceleration
of Maturity; Rescission and Annulment

	

  

	

38

	

SECTION
503.

	

  

	

Collection
of Indebtedness and Suits for Enforcement by Trustee

	

  

	

39

	

SECTION
504.

	

  

	

Trustee
May File Proofs of Claim

	

  

	

40

	

SECTION
505.

	

  

	

Trustee
May Enforce Claims Without Possession of Securities or
Coupons

	

  

	

41

	

SECTION
506.

	

  

	

Application
of Money Collected

	

  

	

41

	

SECTION
507.

	

  

	

Limitation
on Suits

	

  

	

41

	

SECTION
508.

	

  

	

Unconditional
Right of Holders to Receive Principal, Premium or Make-Whole
Amount, if any, and Interest

	

  

	

42

	

SECTION
509.

	

  

	

Restoration
of Rights and Remedies

	

  

	

42

	

SECTION
510.

	

  

	

Rights
and Remedies Cumulative

	

  

	

42

	

SECTION
511.

	

  

	

Delay
or Omission Not Waiver

	

  

	

43

	

SECTION
512.

	

  

	

Control
by Holders of Securities

	

  

	

43

	

SECTION
513.

	

  

	

Waiver
of Past Defaults

	

  

	

43

	

SECTION
514.

	

  

	

Waiver
of Usury, Stay or Extension Laws

	

  

	

43

	

SECTION
515.

	

  

	

Undertaking
for Costs

	

  

	

44

	
 

	
 

	

ARTICLE
SIX - THE TRUSTEE

	

  

	

44

	

SECTION
601.

	

  

	

Notice
of Defaults

	

  

	

44

	

SECTION
602.

	

  

	

Certain
Rights of Trustee

	

  

	

44

	

SECTION
603.

	

  

	

Not
Responsible for Recitals or Issuance of Securities

	

  

	

46

	

SECTION
604.

	

  

	

May
Hold Securities

	

  

	

47

	

SECTION
605.

	

  

	

Money
Held in Trust

	

  

	

47

	

SECTION
606.

	

  

	

Compensation
and Reimbursement

	

  

	

47

	

SECTION
607.

	

  

	

Corporate
Trustee Required; Eligibility; Conflicting Interests

	

  

	

48

	

SECTION
608.

	

  

	

Resignation
and Removal; Appointment of Successor

	

  

	

48

	

SECTION
609.

	

  

	

Acceptance
of Appointment by Successor

	

  

	

49

	

SECTION
610.

	

  

	

Merger,
Conversion, Consolidation or Succession to Business

	

  

	

50

	

SECTION
611.

	

  

	

Appointment
of Authenticating Agent

	

  

	

51

	

SECTION
612.

	

  

	

Certain
Duties and Responsibilities of the Trustee

	

  

	

52

	
 

	
 

	

ARTICLE
SEVEN - HOLDERS' LISTS AND REPORTS BY TRUSTEE AND
COMPANY

	

  

	

53

	

SECTION
701.

	

  

	

Disclosure
of Names and Addresses of Holders

	

  

	

53

	

SECTION
702.

	

  

	

Reports
by Trustee

	

  

	

54

	

SECTION
703.

	

  

	

Reports
by Company

	

  

	

54

	

SECTION
704.

	

  

	

Company
to Furnish Trustee Names and Addresses of Holders

	

  

	

54

 

(ii)

 

 

 

 

	
 

	
 

	
 

	
 

	
 

	

ARTICLE
EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR
CONVEYANCE

	

  

	

55

	

SECTION
801.

	

  

	

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

	

  

	

55

	

SECTION
802.

	

  

	

Rights
and Duties of Successor Corporation

	

  

	

55

	

SECTION
803.

	

  

	

Officers'
Certificate and Opinion of Counsel

	

  

	

56

	
 

	
 

	

ARTICLE
NINE - SUPPLEMENTAL INDENTURES

	

  

	

56

	

SECTION
901.

	

  

	

Supplemental
Indentures Without Consent of Holders

	

  

	

56

	

SECTION
902.

	

  

	

Supplemental
Indentures with Consent of Holders

	

  

	

57

	

SECTION
903.

	

  

	

Execution
of Supplemental Indentures

	

  

	

58

	

SECTION
904.

	

  

	

Effect
of Supplemental Indentures

	

  

	

59

	

SECTION
905.

	

  

	

Conformity
with Trust Indenture Act

	

  

	

59

	

SECTION
906.

	

  

	

Reference
in Securities to Supplemental Indentures

	

  

	

59

	
 

	
 

	

ARTICLE
TEN - COVENANTS

	

  

	

59

	

SECTION
1001.

	

  

	

Payment
of Principal, Premium or Make-Whole Amount, if any; and
Interest

	

  

	

59

	

SECTION
1002.

	

  

	

Maintenance
of Office or Agency

	

  

	

59

	

SECTION
1003.

	

  

	

Money
for Securities Payments to Be Held in Trust

	

  

	

61

	

SECTION
1004.

	

  

	

Existence

	

  

	

62

	

SECTION
1005.

	

  

	

Maintenance
of Properties

	

  

	

62

	

SECTION
1006.

	

  

	

Insurance

	

  

	

63

	

SECTION
1007.

	

  

	

Payment
of Taxes and Other Claims

	

  

	

63

	

SECTION
1008.

	

  

	

Statement
as to Compliance

	

  

	

63

	

SECTION
1009.

	

  

	

Waiver
of Certain Covenants

	

  

	

63

	
 

	
 

	

ARTICLE
ELEVEN - REDEMPTION OF SECURITIES

	

  

	

63

	

SECTION
1101.

	

  

	

Applicability
of Article

	

  

	

63

	

SECTION
1102.

	

  

	

Election
to Redeem; Notice to Trustee

	

  

	

63

	

SECTION
1103.

	

  

	

Selection
by Trustee of Securities to Be Redeemed

	

  

	

64

	

SECTION
1104.

	

  

	

Notice
of Redemption

	

  

	

64

	

SECTION
1105.

	

  

	

Deposit
of Redemption Price

	

  

	

65

	

SECTION
1106.

	

  

	

Securities
Payable on Redemption Date

	

  

	

66

	

SECTION
1107.

	

  

	

Securities
Redeemed in Part

	

  

	

66

	
 

	
 

	

ARTICLE
TWELVE - SINKING FUNDS

	

  

	

67

	

SECTION
1201.

	

  

	

Applicability
of Article

	

  

	

67

	

SECTION
1202.

	

  

	

Satisfaction
of Sinking Fund Payments with Securities

	

  

	

67

	

SECTION
1203.

	

  

	

Redemption
of Securities for Sinking Fund

	

  

	

67

	
 

	
 

	

ARTICLE
THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS

	

  

	

68

	

SECTION
1301.

	

  

	

Applicability
of Article

	

  

	

68

	

SECTION
1302.

	

  

	

Repayment
of Securities

	

  

	

68

	

SECTION
1303.

	

  

	

Exercise
of Option

	

  

	

68

 

(iii)

 

 

 

 

	
 

	
 

	
 

	
 

	
 

	

SECTION
1304.

	

  

	

When
Securities Presented for Repayment Become Due and
Payable

	

  

	

69

	

SECTION
1305.

	

  

	

Securities
Repaid in Part

	

  

	

70

	
 

	
 

	

ARTICLE
FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE

	

  

	

70

	

SECTION
1401.

	

  

	

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

	

  

	

70

	

SECTION
1402.

	

  

	

Defeasance
and Discharge

	

  

	

70

	

SECTION
1403.

	

  

	

Covenant
Defeasance

	

  

	

71

	

SECTION
1404.

	

  

	

Conditions
to Defeasance or Covenant Defeasance

	

  

	

71

	

SECTION
1405.

	

  

	

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

	

  

	

73

	
 

	
 

	

ARTICLE
FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES

	

  

	

74

	

SECTION
1501.

	

  

	

Purposes
for Which Meetings May Be Called

	

  

	

74

	

SECTION
1502.

	

  

	

Call,
Notice and Place of Meetings

	

  

	

74

	

SECTION
1503.

	

  

	

Persons
Entitled to Vote at Meetings

	

  

	

74

	

SECTION
1504.

	

  

	

Quorum;
Action

	

  

	

74

	

SECTION
1505.

	

  

	

Determination
of Voting Rights; Conduct and Adjournment of Meetings

	

  

	

76

	

SECTION
1506.

	

  

	

Counting
Votes and Recording Action of Meetings

	

  

	

76

	
 

	
 

	

ARTICLE
SIXTEEN - SUBORDINATION OF SECURITIES

	

  

	

77

	

SECTION
1601.

	

  

	

Agreement
to Subordinate

	

  

	

77

	

SECTION
1602.

	

  

	

Payment
Over of Proceeds upon Dissolution, Etc

	

  

	

77

	

SECTION
1603.

	

  

	

No
Payment When Senior Indebtedness in Default

	

  

	

78

	

SECTION
1604.

	

  

	

Reliance
by Senior Indebtedness on Subordination Provisions

	

  

	

79

	

SECTION
1605.

	

  

	

Subrogation
to Rights of Holders of Senior Indebtedness

	

  

	

79

	

SECTION
1606.

	

  

	

Provisions
Solely to Define Relative Rights

	

  

	

80

	

SECTION
1607.

	

  

	

Trustee
to Effectuate Subordination

	

  

	

80

	

SECTION
1608.

	

  

	

No
Waiver of Subordination Provisions

	

  

	

81

	

SECTION
1609.

	

  

	

Notice
to Trustee

	

  

	

81

	

SECTION
1610.

	

  

	

Reliance
on Judicial Order or Certificate of Liquidating Agent

	

  

	

82

	

SECTION
1611.

	

  

	

Trustee
Not Fiduciary for Holders of Senior Indebtedness

	

  

	

82

	

SECTION
1612.

	

  

	

Rights
of Trustee as Holder of Senior Indebtedness; Preservation of
Trustee's Rights

	

  

	

82

	

SECTION
1613.

	

  

	

Article
Applicable to Paying Agents

	

  

	

82

	
 

	
 

	

ARTICLE
SEVENTEEN - CONVERSION OF SECURITIES

	

  

	

83

	

SECTION
1701.

	

  

	

Applicability
of Article; Conversion Privilege and Conversion Price

	

  

	

83

	

SECTION
1702.

	

  

	

Exercise
of Conversion Privilege

	

  

	

84

	

SECTION
1703.

	

  

	

Fractions
of Shares

	

  

	

85

	

SECTION
1704.

	

  

	

Adjustment
of Conversion Price

	

  

	

85

 

(iv)

 

 

 

 

	
 

	
 

	
 

	
 

	
 

	

SECTION
1705.

	

  

	

Notice
of Adjustments of Conversion Price

	

  

	

88

	

SECTION
1706.

	

  

	

Notice
of Certain Corporate Action

	

  

	

89

	

SECTION
1707.

	

  

	

Company
to Reserve Common Stock

	

  

	

89

	

SECTION
1708.

	

  

	

Taxes
on Conversion

	

  

	

89

	

SECTION
1709.

	

  

	

Covenants
as to Common Stock

	

  

	

89

	

SECTION
1710.

	

  

	

Cancellation
of Converted Securities

	

  

	

90

	

SECTION
1711.

	

  

	

Provisions
in Case of Consolidation, Merger or Sale of Assets; Special
Distributions

	

  

	

90

	

SECTION
1712.

	

  

	

Trustee
Adjustment Disclaimer; Company Determination Final

	

  

	

91

	

SECTION
1713.

	

  

	

When No
Adjustment Required

	

  

	

92

	

SECTION
1714.

	

  

	

Equivalent
Adjustments

	

  

	

92

 

(v)

 

 

 

 

 

SOLITARIO
ZINC CORP.

 

Reconciliation and
tie between the Trust Indenture Act of 1939, as amended (the "Trust
Indenture Act" or "TIA") and the Indenture, dated as of
                ,
20 .

 

	
 

	
 

	
 

	

Trust Indenture Act Section

 

	
 

	

Indenture Section

 

	
 

	
 

	
 

	

§
310(a)(1)

	
 

	

607

	

(a)(2)

	
 

	

607

	

(b)

	
 

	

607, 608

	

§
312(c)

	
 

	

701

	

§
313(a)

	
 

	

702

	

(c)

	
 

	

702

	

§
314(a)

	
 

	

703

	

(a)(4)

	
 

	

 1008

	

(c)(1)

	
 

	

102

	

(c)(2)

	
 

	

102

	

(e)

	
 

	

102

	

§
315(b)

	
 

	

601

	

§
316(a) (last sentence)

	
 

	

101("Outstanding")

	

(a)(1)(A)

	
 

	

502,
512

	

(a)(1)(B)

	
 

	

513

	

(b)

	
 

	

508

	

§
317(a)(1)

	
 

	

503

	

(a)(2)

	
 

	

504

	

§
318(a)

	
 

	

111

	

(c)

	
 

	

111

 

 

NOTE:
This reconciliation and tie shall not, for any purpose, be deemed
to be a part of the Indenture.

 

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

 

(vi)

 

 

 

 

 

INDENTURE, dated as
of
            ,
20__, between SOLITARIO ZINC CORP., a corporation organized under
the laws of the State of Colorado (hereinafter called the
"Company"), having its principal office at 4251 Kipling Street,
Suite 390, Wheat Ridge, Colorado 80033, and
                    ,
as Trustee hereunder (hereinafter called the "Trustee"), having a
Corporate Trust Office at
                    .

 

RECITALS
OF THE COMPANY

 

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

 

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

 

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

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

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

 

ARTICLE
ONE - DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION

 

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

 

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

 

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

 

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

 

(4) any
reference to an "Article" or a "Section" refers to an Article or
Section, as the case may be, of this Indenture; and

 

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

 

 

 

 

 

"Act," when used with respect to
any Holder, has the meaning specified in
Section 104.

 

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

 

"Authenticating Agent" means any
Person authorized by the Trustee pursuant to Section 611
hereof to act on behalf of the Trustee to authenticate Securities
of one or more Series.

 

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

 

"Bankruptcy Law" has the meaning
specified in Section 501.

 

"Bearer Security" means any
Security established pursuant to Section 201 which is payable
to the bearer.

 

"Board of Directors" when used
with reference to the Company, means the board of directors of the
Company, or any committee of that board duly authorized to act
hereunder, or any director or directors and/or officer or officers
of the Company, to whom the board or committee shall have duly
delegated its authority.

 

"Board Resolution" means a copy
of (1) a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of
Directors or a duly authorized committee of the Board of Directors
and to be in full force and effect on the date of such
certification, or (2) a certificate signed by the director or
directors and/or officer or officers to whom the Board of Directors
shall have duly delegated its authority, together with 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 authorizing
such delegation, and, in each case, delivered to the
Trustee.

 

"Business Day," when used with
respect to any Place of Payment or any other particular location
referred to in this Indenture or in the Securities, means, unless
otherwise specified with respect to any Securities issued pursuant
to Section 301, any day, other than a Saturday or Sunday, that
is neither a legal holiday nor a day on which banking institutions
in that Place of Payment or particular location are authorized or
required by law, regulation or executive order to
close.

 

"Capital Stock" means, with
respect to any Person, any capital stock (including preferred
stock), shares, interests, participations or other ownership
interests (however designated) of such Person and any rights (other
than debt securities convertible into or exchangeable for corporate
stock), warrants or options to purchase any thereof.

 

2

 

 

 

 

 

"Clearstream" means Clearstream
Banking Luxembourg, société anonyme, or its
successor.

 

"Closing Price" means the
closing price of a share of Common Stock of the Company as reported
on the NYSE Amex Equities.

 

"Code" means the Internal
Revenue Code of 1986, as amended, and the regulations
thereunder.

 

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

 

"Common Depository" has the
meaning specified in Section 304.

 

"Common Stock" means, with
respect to any Person, all shares of capital stock issued by such
Person other than Preferred Stock.

 

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

 

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

 

"Constituent Person" has the
meaning specified in Section 1711.

 

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

 

"Conversion Price" has the
meaning specified in Section 1701.

 

"Corporate Trust Office" means
the office of the Trustee at which, at any particular time, its
corporate trust business shall be principally administered, which
office at the date hereof is located at
[                    ].

 

"corporation" includes
corporations, associations, companies and business
trusts.

 

3

 

 

 

 

 

"coupon" means any interest
coupon appertaining to a Bearer Security.

 

"Covenant Defeasance" has the
meaning specified in Section 1403.

 

"Custodian" has the meaning
specified in Section 501.

 

"Defaulted Interest" has the
meaning specified in Section 307.

 

"Defeasance" has the meaning
specified in Section 1402.

 

"Distribution Record Date" has
the meaning specified in Section 1711.

 

"Dividend Record Date" has the
meaning specified in Section 1704.

 

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

 

"DTC" means The Depository Trust
Company and any successor to DTC in its capacity as depository for
any Securities.

 

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

 

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

 

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

 

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

 

"Event of Default" has the
meaning specified in Article Five.

 

"Exchange Act" means the
Securities Exchange Act of 1934, as amended, as in force at the
date as of which this Indenture was executed; provided, however, that in the event the
Exchange Act is amended after such date, "Exchange Act" means to
the extent required by any such amendment, the Exchange Act as so
amended.

 

"Exchange Date" has the meaning
specified in Section 304.

 

"FINRA" means the Financial
Industry Regulatory Authority, Inc.

 

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

 

4

 

 

 

 

 

"GAAP" means, except as
otherwise provided herein, generally accepted accounting
principles, as in effect from time to time, as used in the United
States applied on a consistent basis.

 

"Global Security" means a
Security evidencing all or a part of a series of Securities issued
to and registered in the name of the depository for such series, or
its nominee, in accordance with Section 305, and bearing the
legend prescribed in Section 203.

 

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

 

"Guaranty" by any Person means
any Obligation, contingent or otherwise, of such Person
guaranteeing any Indebtedness of any other Person (the "primary
obligor") in any manner, whether directly or indirectly, and
including, without limitation, every Obligation of such Person
(i) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness or to purchase (or to
advance or supply funds for the purchase of) any security for the
payment of such Indebtedness, (ii) to purchase property,
securities or services for the purpose of assuring the holder of
such Indebtedness of the payment of such Indebtedness or
(iii) to maintain working capital, equity capital or other
financial statement condition or liquidity of the primary obligor
so as to enable the primary obligor to pay such Indebtedness;
provided,
however, that a
Guaranty by any Person shall not include endorsements by such
Person for collection or deposit, in either case in the ordinary
course of business. The terms "Guaranteed," "Guaranteeing" and "Guarantor" shall have meanings
correlative to the foregoing.

 

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

 

"Indebtedness" means, with
respect to any Person, without duplication, (i) any Obligation
of such Person relating to any indebtedness of such Person
(A) for borrowed money (whether or not the recourse of the
lender is to the whole of the assets, of such person or only to a
portion thereof), (B) evidenced by notes, debentures or
similar instruments (including purchase money obligations) given in
connection with the acquisition of any property or assets (other
than trade

 

5

 

 

 

 

 

accounts
payable for inventory or similar property acquired in the ordinary
course of business), including securities, for the payment of which
such Person is liable, directly or indirectly, or the payment of
which is secured by a lien, charge or encumbrance on property or
assets of such Person, (C) for goods, materials or services
purchased in the ordinary course of business (other than trade
accounts payable arising in the ordinary course of business),
(D) with respect to letters of credit or bankers acceptances
issued for the account of such Person or performance, surety or
similar bonds, (E) for the payment of money relating to a
capitalized lease Obligation or (F) under interest rate swaps,
caps or similar agreements and foreign exchange contracts, currency
swaps or similar agreements; (ii) any liability of others of
the kind described in the preceding clause (i), which such Person
has Guaranteed or which is otherwise its legal liability; and
(iii) any and all deferrals, renewals, extensions and
refunding of, or amendments, modifications or supplements to, any
liability of the kind described in any of the preceding clauses
(i) or (ii).

 

"Indenture" means this
instrument as originally executed or as it may be supplemented or
amended from time to time by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof,
and shall include the terms of particular series of Securities
established as contemplated by Section 301; provided, however, that, if at any time
more than one Person is acting as Trustee under this instrument,
"Indenture" shall mean, with respect to any one or more series of
Securities for which such Person is Trustee, this instrument as
originally executed or as it may be supplemented or amended from
time to time by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include
the terms of the or those particular series of Securities for which
such Person is Trustee established as contemplated by
Section 301, exclusive, however, of any provisions or terms
which relate solely to other series of Securities for which such
Person is Trustee, regardless of when such terms or provisions were
adopted, and exclusive of any provisions or terms adopted by means
of one or more indentures supplemental hereto executed and
delivered after such Person had become such Trustee but to which
such Person, as such Trustee, was not a party.

 

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

 

"Interest," when used with
respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, shall mean interest payable
after Maturity.

 

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

 

"Make-Whole Amount," when used
with respect to any Security, means the amount, if any, in addition
to principal (and accrued interest thereon, if any) which is
required by a Security, under the terms and conditions specified
therein or as otherwise specified as contemplated by
Section 301, to be paid by the Company to the Holder thereof
in connection with any optional redemption or accelerated payment
of such Security.

 

"mandatory sinking fund payment"
has the meaning specified in Section 1201.

 

"Market Value of the
Distribution" has the meaning specified in
Section 1704.

 

6

 

 

 

 

 

"Maturity," when used with
respect to any Security, means the date on which the principal (or,
if the context so requires, in the case of an Original Issue
Discount Security, or lesser amount or, in the case of an Indexed
Security, an amount determined in accordance with the specified
terms of that Security) of such Security or an installment of
principal becomes due and payable as therein or herein provided,
whether at the Stated Maturity or by declaration of acceleration,
notice of redemption, notice of option to elect repayment or
otherwise.

 

"Obligation" of any Person with
respect to any specified Indebtedness means any obligation of such
Person to pay principal, premium, interest (including interest
accruing on or after the filing of any petition in bankruptcy or
for reorganization relating to such Person, whether or not a claim
for such post-petition interest is allowed in such proceeding),
penalties, reimbursement or indemnification amounts, fees, expenses
or other amounts relating to such Indebtedness.

 

"Officers' Certificate" means a
certificate signed by the Chairman of the Board of Directors, the
Chief Executive Officer, the President, or a Vice President
(whether or not designated by a number or word or words added
before or after the title "Vice President"), and by the Treasurer,
an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, and delivered to the Trustee.

 

"Opinion of Counsel" means a
written opinion of counsel, who may be counsel for the Company or
who may be an employee of or other counsel for the
Company.

 

"optional sinking fund payment"
has the meaning specified in Section 1201.

 

"Original Issue Discount
Security" means any Security which provides for an amount
(excluding any amounts attributable to accrued but unpaid interest
thereon) less than the principal amount thereof to be due and
payable upon a declaration of acceleration of the Maturity thereof
pursuant to Section 502.

 

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

 

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

 

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

 

(iii)
Securities, except to the extent provided in Sections 1402 and
1403, with respect to which the Company has effected Defeasance
and/or Covenant Defeasance as provided in Article Fourteen;
and

 

7

 

 

 

 

 

(iv)
Securities which have been paid pursuant to Section 306 or in
exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than
any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such
Securities are held by a bona fide purchaser in whose hands such
Securities are valid obligations of the Company.

 

provided, however, that in determining
whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or
are present at a meeting of Holders for quorum purposes, and for
the purpose of making the calculations required by TIA
Section 313, (i) the principal amount of an Original
Issue Discount Security that may be counted in making such
determination or calculation and that shall be deemed to be
Outstanding for such purpose shall be equal to the amount of
principal thereof that would be (or shall have been declared to be)
due and payable, at the time of such determination, upon a
declaration of acceleration of the maturity thereof pursuant to
Section 502, (ii) the principal amount of any Security
denominated in a Foreign Currency that may be counted in making
such determination or calculation and that shall be deemed
Outstanding for such purpose shall be equal to the Dollar
equivalent, determined pursuant to Section 301 as of the date
such Security is originally issued by the Company, of the principal
amount (or, in the case of an Original Issue Discount Security, the
Dollar equivalent as of such date of original issuance of the
amount determined as provided in clause (i) above) of such
Security, (iii) the principal amount of any Indexed Security
that may be counted in making such determination or calculation and
that shall be deemed outstanding for such purpose shall be equal to
the principal face amount of such Indexed Security at original
issuance, unless otherwise provided with respect to such Security
pursuant to Section 301, and (iv) Securities owned by the
Company or any other obligor upon the Securities or any Affiliate
of the Company or of such other obligor shall be disregarded and
deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in making such calculation or in
relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which a Responsible
Officer of the Trustee actually knows to be so owned shall be so
disregarded. Securities owned as provided in clause (iv) above
which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee's right so to act with respect to such
Securities and that the pledgee is not the Company or any other
obligor upon the Securities or any Affiliate of the Company or of
such other obligor. In case of a dispute as to such right, the
advice of counsel shall be full protection in respect of any
decision made by the Trustee in accordance with such
advice.

 

"Paying Agent" means any Person
authorized by the Company to pay the principal of (and premium or
Make-Whole Amount, if any) or interest on any Securities or coupons
on behalf of the Company.

 

"Payment Blockage Notice" and
"Payment Blockage
Period" have the respective meanings specified in
Section 1603.

 

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

 

8

 

 

 

 

 

"Place of Payment," when used
with respect to the Securities of or within any series, means the
place or places where the principal of (and premium or Make-Whole
Amount, if any) and interest on such Securities are payable as
specified as contemplated by Sections 301 and 1002.

 

"Predecessor Security" of any
particular Security means every previous Security evidencing all or
a portion of the same debt as that evidenced by such particular
Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 306 in exchange for
or in lieu of a mutilated, destroyed, lost or stolen Security or a
Security to which a mutilated, destroyed, lost or stolen coupon
appertains shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Security or the Security to
which the mutilated, destroyed, lost or stolen coupon
appertains.

 

"Preferred Stock" means, with
respect to any Person, all capital stock issued by such Person that
is entitled to a preference or priority over any other capital
stock issued by such Person with respect to any distribution of
such Person's assets, whether by dividend or upon any voluntary or
involuntary liquidation, dissolution or winding up.

 

"Proceeding" has the meaning
specified in Section 1602.

 

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

 

"Redemption Price," when used
with respect to any Security to be redeemed, means the price
specified in the related Officers' Certificate or supplemental
indenture contemplated by and pursuant to Section 301, at
which it is to be redeemed pursuant to this Indenture.

 

"Reference Date" has the meaning
specified in Section 1704.

 

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

 

"Regular Record Date" for the
interest payable on any Interest Payment Date on the Registered
Securities of or within any series means the date specified for
that purpose as contemplated by Section 301, whether or not a
Business Day.

 

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

 

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

 

"Responsible Officer," when used
with respect to the Trustee, means any Vice President (whether or
not designated by a number or a word or words added before or after
the title "Vice President"), Assistant Vice President, Trust
Officer or Assistant Trust Officer working in its Corporate Trust
Department, or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above
designated officers and working in its Corporate Trust Department,
and also means, with respect to a particular corporate trust
matter,

 

9

 

 

 

 

 

any
other officer to whom such matter is referred because of such
officer's knowledge and familiarity with the particular subject and
who shall have direct responsibility for the administration of this
Indenture.

 

"Rights" has the meaning
specified in Section 1704.

 

"Rights Record Date" has the
meaning specified in Section 1704.

 

"Securities Payment" has the
meaning specified in Section 1602.

 

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

 

"Security Register" and
"Security
Registrar" have the respective meanings specified in
Section 305.

 

"Senior Indebtedness" means
Indebtedness of the Company, whether outstanding on the date of
this Indenture or thereafter created, incurred, assumed or
guaranteed by the Company, other than the following: (1) any
Indebtedness as to which, in the instrument evidencing such
Indebtedness or pursuant to which such Indebtedness was issued, it
is expressly provided that such Indebtedness is subordinate in
right of payment to all Indebtedness of the Company not expressly
subordinated to such Indebtedness; (2) any Indebtedness which
by its terms refers explicitly to the Securities and states that
such Indebtedness shall not be senior, shall be pari passu or shall be
subordinated in right of payment to the Securities; and
(3) with respect to any series of Securities, any Indebtedness
of the Company evidenced by Securities of the same or of another
series. Notwithstanding anything to the contrary in the foregoing,
Senior Indebtedness shall not include: (a) Indebtedness of or
amounts owed by the Company for compensation to employees, or for
goods, materials or services purchased in the ordinary course of
business, or (b) Indebtedness of the Company to a Subsidiary
of the Company.

 

A
"Series" of
Securities means all securities denoted as part of the same series
authorized by or pursuant to a particular Board
Resolution.

 

"Short Term Rights" has the
meaning specified in Section 1704.

 

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

 

"Special Record Date" for the
payment of any Defaulted Interest on the Registered Securities of
or within any series means a date fixed by the Company pursuant to
Section 307.

 

10

 

 

 

 

 

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

 

"Subsidiary" means, with respect
to any Person, any corporation, limited liability company,
partnership or other entity of which a majority of (i) the
voting power of the voting equity securities or (ii) the
outstanding equity interests are owned, directly or indirectly, by
such Person. For the purposes of this definition, "voting equity
securities" means equity securities having voting power for the
election of directors, whether at all times or only so long as no
senior class of security has such voting power by reason of any
contingency.

 

"Trading Day" means any day on
which the NYSE Amex Equities is open for business.

 

"Trigger Events" has the meaning
specified in Section 1704.

 

"Trust Indenture Act" or
"TIA" means the
Trust Indenture Act of 1939, as amended and as in force at the date
as of which this Indenture was executed, except as provided in
Section 905.

 

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

 

"Unadjusted Distribution" has
the meaning specified in Section 1704.

 

"United States" means, unless
otherwise specified with respect to any Securities pursuant to
Section 301, the United States of America (including the
states and the District of Columbia), its territories, its
possessions and other areas subject to its
jurisdiction.

 

"United States Person" means,
unless otherwise specified with respect to any Securities pursuant
to Section 301, an individual who is a citizen or resident of
the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States or
an estate or trust the income of which is subject to United States
Federal income taxation regardless of its source.

 

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

 

SECTION
102. Compliance
Certificates and Opinions. Upon any application or request
by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the
Trustee an Officers' Certificate stating that all
conditions

 

11

 

 

 

 

 

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

 

Every
certificate or opinion with respect to compliance with a condition
or covenant provided for in this Indenture (including certificates
delivered pursuant to Section 1008) shall
include:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

12

 

 

 

 

 

SECTION
104. Acts of
Holders

 

(a) Any
request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by
Holders of the Outstanding Securities of all series or one or more
series, as the case may be, may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such
Holders in person or by agents duly appointed in writing. If
Securities of a series are issuable as Bearer Securities, any
request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by
Holders of Securities of such series may, alternatively, be
embodied in and evidenced by the record of Holders of Securities of
such series voting in favor thereof, either in person or by proxies
duly appointed in writing, at any meeting of Holders of Securities
of such series duly called and held in accordance with the
provisions of Article Fifteen, or a combination of such instruments
and any such record. Except as herein otherwise expressly provided,
such action shall become effective when such instrument or
instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Company. Such
instrument or instruments and any such record (and the action
embodied therein and evidenced thereby) are herein sometimes
referred to as the "Act" of the Holders signing such instrument or
instruments or so voting at any such meeting. Proof of execution of
any such instrument or of a writing appointing any such agent, or
of the holding by any Person of a Security, shall be sufficient for
any purpose of this Indenture and conclusive in favor of the
Trustee and the Company and any agent of the Trustee or the
Company, if made in the manner provided in this Section. The record
of any meeting of Holders of Securities shall be proved in the
manner provided in Section 1506.

 

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

 

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

 

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

 

13

 

 

 

 

 

(e) If
the Company shall solicit from the Holders of Registered Securities
any request, demand, authorization, direction, notice, consent,
waiver or other Act, the Company may, at its option, in or pursuant
to a Board Resolution, fix in advance a record date for the
determination of Holders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other Act, but
the Company shall have no obligation to do so. Notwithstanding TIA
Section 316(c), such record date shall be the record date
specified in or pursuant to such Board Resolution, which shall be a
date not earlier than the date 30 days prior to the first
solicitation of Holders generally in connection therewith and not
later than the date such solicitation is completed. If such a
record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other Act may be given before
or after such record date, but only the Holders of record at the
close of business on such record date shall be deemed to be Holders
for the purposes of determining whether Holders of the requisite
proportion of Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction,
notice, consent, waiver or other Act, and for that purpose the
Outstanding Securities shall be computed as of such record date;
provided that no
such authorization, agreement or consent by the Holders on such
record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later
than eleven months after the record date.

 

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

 

SECTION
105. Notices, etc., to
Trustee and Company. Any request, demand, authorization,
direction, notice, consent, waiver or Act of Holders or other
document provided or permitted by this Indenture to be made upon,
given or furnished to, or filed with,

 

(1) the
Trustee by any Holder or by the Company shall be sufficient for
every purpose hereunder if made, given, furnished or filed in
writing to or with the Trustee at
[                                        ]
or at any other address previously furnished in writing to the
Company by the Trustee, Attention:
[                    ];
or

 

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

 

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

 

14

 

 

 

 

 

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

 

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

 

Except
as otherwise expressly provided herein or otherwise specified with
respect to any Securities pursuant to Section 301, where this
Indenture provides for notice to Holders of Bearer Securities of
any event, such notice shall be sufficiently given if published in
an Authorized Newspaper in The City of New York and in such other
city or cities as may be specified in such Securities on a Business
Day, such publication to be not later than the latest date, if any,
and not earlier than the earliest date, if any, prescribed for the
giving of such notice. Any such notice shall be deemed to have been
given on the date of such publication or, if published more than
once, on the date of the first such publication.

 

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

 

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

 

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

 

15

 

 

 

 

 

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

 

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

 

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

 

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

 

SECTION
111. Governing Law.
This Indenture and the Securities and coupons shall be governed by
and construed in accordance with the laws of the State of New York.
This Indenture is subject to the provisions of the TIA that are
required to be part of this Indenture and shall, to the extent
applicable, be governed by such provisions.

 

SECTION
112. Legal
Holidays. In any case where any Interest Payment Date,
Redemption Date, Repayment Date, sinking fund payment date, Stated
Maturity or Maturity of any Security or the last date on which a
Holder has the right to convert or exchange a Security shall not be
a Business Day at any Place of Payment, then (notwithstanding any
other provision of this Indenture or any Security or coupon other
than a provision in the Securities of any series which specifically
states that such provision shall apply in lieu hereof), payment of
interest or principal (and premium or Make-Whole Amount, if any) or
conversion or exchange of such Security need not be made at such
Place of Payment on such date, but (except as otherwise provided in
the supplemental indenture with respect to such Security) may be
made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment
Date, Redemption Date, Repayment Date or sinking fund payment date,
or at the Stated Maturity or Maturity, or on such last day for
conversion or exchange, provided that no interest shall accrue on
the amount so payable for the period from and after such Interest
Payment Date, Redemption Date, Repayment Date, sinking fund payment
date, Stated Maturity or Maturity, as the case may be.

 

SECTION
113. Limited Liability;
Immunity of Stockholders, Directors, Officers and Agents of the
Company. Notwithstanding any other provision of this
Indenture or of the Securities of any series to the contrary, no
recourse under or upon any obligation, covenant or agreement
contained in this Indenture or in any Security, or for the payment
of any sums due on

 

16

 

 

 

 

 

account
of any indebtedness evidenced thereby, including without limitation
principal, premium or interest, if any, or for any claim based on
this Indenture or any Security or otherwise in respect of this
Indenture or any Security, shall be had, whether by levy or
execution or otherwise, against any past, present or future
stockholder, employee, officer, director or agent, as such, of the
Company or any successor, either directly or through the Company or
any successor, under any rule of law, statute, constitutional
provision or by the enforcement of any assessment or penalty, or by
any legal or equitable proceeding or otherwise, nor shall any such
parties be personally liable for any such amounts, obligations or
claims, or liable for any deficiency judgment based thereon or with
respect thereto, it being expressly understood that the sole
remedies hereunder or under any other document with respect to the
Securities against such parties with respect to such amounts,
obligations or claims shall be against the Company and that all
such liability of and recourse against such parties is expressly
waived and released by the acceptance of the Securities by the
Holders and as part of the consideration for the issue of the
Securities.

 

SECTION
114. Conflict with Trust
Indenture Act. If any provision hereof limits, qualifies or
conflicts with another provision hereof which is required or deemed
to be included in this Indenture by any of the provisions of the
Trust Indenture Act, such required provision shall control. If any
provision of this Indenture modifies or excludes any provision of
the Trust Indenture Act that may be so modified or excluded, the
latter provision shall be deemed to apply to this Indenture as so
modified or to be excluded, as the case may be.

 

ARTICLE
TWO - SECURITIES FORMS

 

SECTION
201. Forms of
Securities. The Registered Securities, if any, of each
series and the Bearer Securities, if any, of each series and
related coupons shall be substantially in the form of Exhibit A hereto or in such
other form as shall be established in one or more indentures
supplemental hereto or approved from time to time by or pursuant to
a Board Resolution in accordance with Section 301, shall have
such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture or any
indenture supplemental hereto, and may have such letters, numbers
or other marks of identification or designation and such legends or
endorsements placed thereon as the Company may deem appropriate and
as are not inconsistent with the provisions of this Indenture, or
as may be required to comply with any law or with any rule or
regulation made pursuant thereto or with any rule or regulation of
any over-the-counter market or securities exchange, on which the
Securities may be quoted or listed, or to conform to
usage.

 

Unless
otherwise specified as contemplated by Section 301, Bearer
Securities shall have interest coupons attached.

 

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

 

17

 

 

 

 

 

SECTION
202. Form of Trustee's
Certificate of Authentication. Subject to Section 611,
the Trustee's certificate of authentication shall be in
substantially the following form:

 

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

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

,

 

	
 

	
 

	

    as Trustee

 

	
 

	
 

	
 

	
 

	
 

	

Dated:
                    

 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	
 

	
 

	

Authorized
Signatory

 

	
 

	
 

 

SECTION
203. Securities Issuable
in Global Form. If Securities of or within a series are
issuable in the form of one or more Global Securities, then,
notwithstanding clause (8) of Section 301 and the
provisions of Section 302, any such Global Security or
Securities may provide that it or they shall represent the
aggregate amount of all Outstanding Securities of such series (or
such lesser amount as is permitted by the terms thereof) from time
to time endorsed thereon and may also provide that the aggregate
amount of Outstanding Securities of such series represented thereby
may from time to time be increased or decreased to reflect
exchanges. Any endorsement of any Global Security to reflect the
amount, or any increase or decrease in the amount, or changes in
the rights of Holders thereof, of Outstanding Securities
represented thereby shall be made (or caused to be made) by the
Trustee in such manner or by such Person or Persons as shall be
specified therein or in the Company Order to be delivered to the
Trustee pursuant to Section 303 or 304. Subject to the
provisions of Section 303 and, if applicable,
Section 304, the Trustee shall deliver and redeliver any
Global Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in
the applicable Company Order. If a Company Order pursuant to
Section 303 or 304 has been, or simultaneously is, delivered,
any instructions by the Company with respect to endorsement or
delivery or redelivery of a Global Security shall be in writing but
need not comply with Section 102 and need not be accompanied
by an Opinion of Counsel.

 

The
provisions of the last sentence of Section 303 shall apply to
any Security represented by a Global Security if such Security was
never issued and sold by the Company and the Company delivers to
the Trustee the Global Security together with written instructions
(which need not comply with Section 102 and need not be
accompanied by an Opinion of Counsel) with regard to the reduction
in the principal amount of Securities represented thereby, together
with the written statement contemplated by the last sentence of
Section 303.

 

Notwithstanding the
provisions of Section 307, unless otherwise specified as
contemplated by Section 301, payment of principal of and any
premium or Make-Whole Amount, if any, and interest on any Global
Security in permanent global form shall be made to the registered
Holder thereof.

 

Notwithstanding the
provisions of Section 308 and except as provided in the
preceding paragraph, the Company, the Trustee and any agent of the
Company and the Trustee shall treat as the Holder of such principal
amount of Outstanding Securities represented by a permanent Global
Security (i) in the case of a permanent Global Security in
registered form, the Holder of such permanent Global Security in
registered form, or (ii) in the case of a permanent Global
Security in bearer form, Euroclear or Clearstream.

 

18

 

 

 

 

 

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

 

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

 

ARTICLE
THREE - THE SECURITIES

 

SECTION
301. Amount Unlimited;
Issuable in Series. The aggregate principal amount of
Securities which may be authenticated and delivered under this
Indenture is unlimited.

 

The
Securities may be issued in one or more series, each of which shall
be authorized pursuant to Board Resolutions of the Company. There
shall be established in one or more Board Resolutions or pursuant
to authority granted by one or more Board Resolutions and, subject
to Section 303, set forth in an Officers' Certificate, or
established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series:

 

(1) The
title of the Securities of the series, including "CUSIP" numbers
(which shall distinguish the Securities of such series from all
other series of Securities);

 

(2) Any
limit upon the aggregate principal amount of the Securities of the
series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon
registration of transfer of, or upon conversion of, or in exchange
for, or in lieu of, other Securities of the series pursuant to
Section 304, 305, 306, 906, 1107 or 1305) and the minimum
authorized denominations with respect to the Securities of such
series;

 

(3) The
price (expressed as a percentage of the principal amount thereof)
at which such Securities will be issued and, if other than the
principal amount thereof, the portion of the principal amount
thereof payable upon declaration of acceleration of the maturity
thereof or (if applicable) the portion of the principal amount of
such Securities that is convertible into Common Stock or the method
by which any such portion shall be determined.

 

(4) If
convertible, the terms on which such Securities are convertible,
including the initial conversion price or rate and the conversion
period and any applicable limitations on the ownership or
transferability of Common Stock or Preferred Stock receivable on
conversion;

 

(5) The
date or dates, or the method for determining such date or dates, on
which the principal of such Securities will be
payable;

 

19

 

 

 

 

 

(6) The
rate or rates (which may be fixed or variable), or the method by
which such rate or rates shall be determined, at which such
Securities will bear interest, if any;

 

(7) The
date or dates, or the method for determining such date or dates,
from which any such interest will accrue, the Interest Payment
Dates on which any such interest will be payable, the Regular
Record Dates for such Interest Payment Dates, or the method by
which such dates shall be determined, the Persons to whom such
interest shall be payable, and the basis upon which interest shall
be calculated if other than that of a 360-day year of twelve 30-day
months;

 

(8) The
Make-Whole Amount, if any, or method for determining the Make-Whole
Amount, if any, payable with respect to such Securities, and the
terms upon which such amount, if any, will be payable;

 

(9) The
place or places where the principal of (and premium or Make-Whole
Amount, if any) and interest, if any, on such Securities will be
payable, where such Securities may be surrendered for registration
of transfer or conversion or exchange and where notices or demands
to or upon the Company in respect of such Securities and this
Indenture may be served;

 

(10)
The period or periods, if any, within which, the price or prices at
which and the other terms and conditions upon which such Securities
may, pursuant to any optional or mandatory redemption provisions,
be redeemed, as a whole or in part, at the option of the
Company;

 

(11)
The obligation, if any, of the Company to redeem, repay or purchase
such Securities pursuant to any sinking fund or analogous provision
or at the option of a Holder thereof, and the period or periods
within which, the price or prices at which and the other terms and
conditions upon which such Securities will be redeemed, repaid or
purchased, as a whole or in part, pursuant to such
obligation;

 

(12) If
other than Dollars, the currency or currencies in which such
Securities are denominated and payable, which may be a foreign
currency or units of two or more foreign currencies or a composite
currency or currencies, the manner of determining the equivalent
thereof in Dollars for purposes of the definition of "Outstanding"
in Section 101, and the terms and conditions relating
thereto;

 

(13)
Whether the amount of payments of principal of (and premium or
Make-Whole Amount, if any, including any amount due upon
redemption, if any) or interest on such Securities may be
determined with reference to an index, formula or other method
(which index, formula or method may, but need not be, based on the
yield on or trading price of other securities, including United
States Treasury securities or on a currency, currencies, currency
unit or units, or composite currency or currencies) and the manner
in which such amounts shall be determined;

 

(14)
Whether the principal of (and premium or Make-Whole Amount, if any)
or interest on the Securities of the series are to be payable, at
the election of the Company or a Holder thereof, in a currency or
currencies, currency unit or units or composite currency or
currencies other than that in which such Securities are denominated
or stated to be payable, the period or periods within which, and
the terms and conditions upon which, such election may be made, and
the time and manner of, and identity of the

 

20

 

 

 

 

 

exchange rate agent
with responsibility for, determining the exchange rate between the
currency or currencies, currency unit or units or composite
currency or currencies in which such Securities are denominated or
stated to be payable and the currency or currencies, currency unit
or units or composite currency or currencies in which such
Securities are to be so payable;

 

(15)
Provisions, if any, granting special rights to the Holders of
Securities of the series upon the occurrence of such events as may
be specified;

 

(16)
Any deletions from, modifications of or additions to the Events of
Default or covenants of the Company with respect to Securities of
the series, whether or not such Events of Default or covenants are
consistent with the Events of Default or covenants set forth
herein;

 

(17)
Whether and under what circumstances the Company will pay any
additional amounts on such Securities in respect of any tax,
assessment or governmental charge and, if so, whether the Company
will have the option to redeem such Securities in lieu of making
such payment;

 

(18)
Whether Securities of the series are to be issuable as Registered
Securities, Bearer Securities (with or without coupons) or both,
any restrictions applicable to the offer, sale or delivery of
Bearer Securities and the terms upon which Bearer Securities of the
series may be exchanged for Registered Securities of the series and
vice versa (if permitted by applicable laws and regulations),
whether any Securities of the series are to be issuable initially
in temporary global form and whether any Securities of the series
are to be issuable in permanent global form with or without coupons
and, if so, whether beneficial owners of interests in any such
permanent global Security may, or shall be required to, exchange
such interests for Securities of such series and of like tenor of
any authorized form and denomination and the circumstances under
which any such exchanges may, or shall be required to, occur, if
other than in the manner provided in the Indenture, and, if
Registered Securities of the series are to be issuable as a Global
Security, the identity of the depository for such
series;

 

(19)
The date as of which any Bearer Securities of the series and any
temporary Global Security representing outstanding Securities of
the series shall be dated if other than the date of original
issuance of the first Security of the series to be
issued;

 

(20)
The Person to whom any interest on any Registered Security of the
series shall be payable, if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such
interest the manner in which, or the Person to whom, any interest
on any Bearer Security of the series shall be payable, if otherwise
than upon presentation and surrender of the coupons appertaining
thereto as they severally mature, and the extent to which, or the
manner in which, any interest payable on a temporary Global
Security on an Interest Payment Date will be paid if other than in
the manner provided herein; provided, however, in each case, that the
manner of determining such Person or making such payment shall be
acceptable to the Trustee (as not imposing on it any undue
administrative burden or risk of liability);

 

21

 

 

 

 

 

(21)
The applicability, if any, of the Defeasance and Covenant
Defeasance provisions of Article Fourteen hereof to the Securities
of the series;

 

(22)
The obligation, if any, of the Company to permit the conversion of
the Securities of such series into Common Stock or Preferred Stock,
as the case may be, and the terms and conditions upon which such
conversion shall be effected (including, without limitation, the
initial conversion price or rate, the conversion period, any
adjustment of the applicable conversion price and any requirements
relative to the reservation of such shares for purposes of
conversion);

 

(23) If
the Securities of such series are to be issuable in definitive form
(whether upon original issue or upon exchange of a temporary
Security of such series) only upon receipt of certain certificates
or other documents or satisfaction of other conditions, then the
form and/or terms of such certificates, documents or
conditions;

 

(24)
Designation of the Trustee, if different from the Trustee under the
Indenture, with respect to such series and the terms applicable to
such Trustee (which shall be accepted by such Trustee by its
execution and delivery of a supplemental indenture as provided
therein); and

 

(25)
Any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture).

 

All
Securities of any one series and the coupons appertaining to any
Bearer Securities of such series shall be substantially identical
except, in the case of Registered Securities, as to denomination
and except as may otherwise be provided in or pursuant to such
Board Resolution (subject to Section 303) and set forth in
such Officers' Certificate or in any such indenture supplemental
hereto. All Securities of any one series need not be issued at the
same time and, unless otherwise provided, a series may be reopened,
without the consent of the Holders, for issuances of additional
Securities of such series.

 

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

 

SECTION
302. Denominations.
The Securities of each series shall be issuable in such
denominations as shall be specified as contemplated by
Section 301. With respect to Securities of any series
denominated in Dollars, in the absence of any such provisions with
respect to the Securities of any series, the Securities of such
series, other than Global Securities (which may be of any
denomination), shall be issuable in denominations of $1,000 and any
integral multiple thereof or the equivalent amounts thereof in the
case of Securities denominated in the Foreign Currency or currency
unit.

 

SECTION
303. Execution,
Authentication, Delivery and Dating. The Securities and any
coupons appertaining thereto shall be executed on behalf of the
Company by its Chairman of the Board, its Chief Executive Officer,
its President, or one of its Vice Presidents, under its corporate
seal reproduced thereon, and attested by its Secretary or one of
its Assistant Secretaries. The signature of any of these officers
on the Securities and coupons may be manual or facsimile signatures
of the present or any future such authorized officer and may be
imprinted or otherwise reproduced on the Securities.

 

22

 

 

 

 

 

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

 

At any
time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series,
together with any coupon appertaining thereto, executed by the
Company to the Trustee for authentication, together with a Company
Order for the authentication and delivery of such Securities
(accompanied by a copy of the Board Resolution and the Officers'
Certificate or supplemental indenture contemplated by
Section 301), and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities; provided, however, that, in connection
with its original issuance, no Bearer Security shall be mailed or
otherwise delivered to any location in the United States; and
provided
further that,
unless otherwise specified with respect to any series of Securities
pursuant to Section 301, a Bearer Security may be delivered in
connection with its original issuance only if the Person entitled
to receive such Bearer Security shall have furnished a certificate
to Euroclear or Clearstream, as the case may be, in the form set
forth in Exhibit
B-1 to this Indenture or such other certificate as may be
specified by the Company with respect to any series of Securities
pursuant to Section 301, dated no earlier than 15 days prior
to the earlier of the date on which such Bearer Security is
delivered and the date on which any temporary Security first
becomes exchangeable for such Bearer Security in accordance with
the terms of such temporary Security and this Indenture. If any
Security shall be represented by a permanent Global Security, then,
for purposes of this Section and Section 304, the notation of
a beneficial owner's interest therein upon original issuance of
such Security or upon exchange of a portion of a temporary Global
Security shall be deemed to be delivery in connection with its
original issuance of such beneficial owner's interest in such
permanent Global Security. Except as permitted by Section 306,
the Trustee shall not authenticate and deliver any Bearer Security
unless all appurtenant coupons for interest then matured have been
detached and canceled.

 

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

 

(i) an
Opinion of Counsel stating that

 

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

 

23

 

 

 

 

 

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

 

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

 

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

 

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

 

Notwithstanding the
provisions of Section 301 and of the preceding paragraph, if
all the Securities of any series are not to be issued at one time,
it shall not be necessary to deliver an Officers' Certificate
otherwise required pursuant to Section 301 or a Company Order,
or an Opinion of Counsel or an Officers' Certificate otherwise
required pursuant to the preceding paragraph at the time of
issuance of each Security of such series, but such order, opinion
and certificates, with appropriate modifications to cover such
future issuances, shall be delivered at or before the time of
issuance of the first Security of such series.

 

Each
Registered Security shall be dated the date of its authentication
and each Bearer Security shall be dated as of the date specified as
contemplated by Section 301.

 

No
Security or coupon shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there
appears on such Security or Security to which such coupon
appertains a certificate of authentication substantially in the
form provided for herein duly executed by the Trustee (subject to
Section 611) by manual signature of an authorized signatory,
and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder and is entitled to the
benefits of this Indenture. Notwithstanding the foregoing, if any
Security (including a Global Security) shall have been
authenticated and delivered hereunder but never issued and sold by
the Company, and the Company shall deliver such Security to the
Trustee for cancellation as

 

24

 

 

 

 

 

provided
in Section 309 together with a written statement (which need
not comply with Section 102 and need not be accompanied by an
Opinion of Counsel) stating that such Security has never been
issued and sold by the Company, for all purposes of this Indenture
such Security shall be deemed never to have been authenticated and
delivered hereunder and shall never be entitled to the benefits of
this Indenture.

 

SECTION
304. Temporary
Securities.

 

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

 

Except
in the case of temporary Global Securities (which shall be
exchanged as otherwise provided herein or as otherwise provided in
or pursuant to a Board Resolution or supplemental indenture
pursuant to Section 301), if temporary Securities of any
series are issued, the Company will cause definitive Securities of
that series to be prepared without unreasonable delay. After the
preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary
Securities of such series at the office or agency of the Company in
a Place of Payment for that series, without charge to the Holder.
Upon surrender for cancellation of any one or more temporary
Securities of any series (accompanied by any non-matured coupons
appertaining thereto), the Company shall execute (in accordance
with a Company Order delivered at or prior to the authentication of
the first definitive security to such series) and the Trustee shall
authenticate and deliver in exchange therefor a like principal
amount of definitive Securities of the same series of authorized
denominations; provided, however, that no definitive
Bearer Security shall be delivered in exchange for a temporary
Registered Security; and provided further that a definitive
Bearer Security shall be delivered in exchange for a temporary
Bearer Security only in compliance with the conditions set forth in
Section 303. Until so exchanged, the temporary Securities of
any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of such
series.

 

(b)
Unless otherwise provided in or pursuant to a Board Resolution or
supplemental indenture pursuant to Section 301, the following
provisions of this Section 304(b) shall govern the exchange of
temporary Securities other than through the facilities of the DTC.
If any such temporary Security is issued in global form, then such
temporary Global Security shall, unless otherwise provided therein,
be delivered to the London office of a depository or common
depository upon and pursuant to written direction of the Company
(the "Common Depository"), for the benefit of Euroclear and
Clearstream, for credit to the respective accounts of the
beneficial owners of such Securities (or to such other accounts as
they may direct).

 

25

 

 

 

 

 

Without
unnecessary delay but in any event not later than the date
specified in, or determined pursuant to the terms of, any such
temporary Global Security (the "Exchange Date"), the Company shall
deliver to the Trustee definitive Securities, in aggregate
principal amount equal to the principal amount of such temporary
Global Security, executed by the Company. On or after the Exchange
Date, such temporary Global Security shall be surrendered by the
Common Depository to the Trustee, as the Company's agent for such
purpose, to be exchanged, in whole or from time to time in part,
for definitive Securities without charge, and the Trustee shall
authenticate and deliver, in exchange for each portion of such
temporary Global Security, an equal aggregate principal amount of
definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such temporary
Global Security to be exchanged. The definitive Securities to be
delivered in exchange for any such temporary Global Security shall
be in bearer form, registered form, permanent global bearer form or
permanent global registered form, or any combination thereof, as
specified as contemplated by Section 301, and, if any
combination thereof is so specified, as requested by the beneficial
owner thereof (as directed by or pursuant to information provided
by the Common Depository); provided, however, that, unless otherwise
specified in such temporary Global Security, upon such presentation
by the Common Depository, such temporary Global Security shall be
accompanied by a certificate dated the Exchange Date or a
subsequent date and signed by Euroclear as to the portion of such
temporary Global Security held for its account then to be exchanged
and a certificate dated the Exchange Date or a subsequent date and
signed by Clearstream as to the portion of such temporary Global
Security held for its account then to be exchanged, each in the
form set forth in Exhibit
B-2 to this Indenture or in such other form as may be
established pursuant to Section 301; and provided further that
definitive Bearer Securities shall be delivered in exchange for a
portion of a temporary Global Security only in compliance with the
requirements of Section 303.

 

Unless
otherwise specified in such temporary Global Security, the interest
of a beneficial owner of Securities of a series in a temporary
Global Security shall be exchanged for definitive Securities of the
same series and of like tenor following the Exchange Date when the
account holder instructs Euroclear or Clearstream, as the case may
be, to request such exchange on his behalf and delivers to
Euroclear or Clearstream, as the case may be, a certificate in the
form set forth in Exhibit
B-1 to this Indenture (or in such other form as may be
established pursuant to Section 301), dated no earlier than 15
days prior to the Exchange Date, copies of which certificate shall
be available from the offices of Euroclear and Clearstream, the
Trustee, any Authenticating Agent appointed for such series of
Securities and each Paying Agent. Unless otherwise specified in
such temporary Global Security, any such exchange shall be made
free of charge to the beneficial owners of such temporary Global
Security, except that a Person receiving definitive Securities must
bear the cost of insurance, postage, transportation and the like
unless such Person takes delivery of such definitive Securities in
person at the offices of Euroclear or Clearstream. Definitive
Securities in bearer form to be delivered in exchange for any
portion of a temporary Global Security shall be delivered only to
an address located outside the United States.

 

Until
exchanged in full as hereinabove provided, the temporary Securities
of any series shall in all respects be entitled to the same
benefits under this Indenture as definitive Securities of the same
series and of like tenor authenticated and delivered hereunder,
except that, unless otherwise specified as contemplated by
Section 301, interest payable on a temporary
Global

 

26

 

 

 

 

 

Security
on an Interest Payment Date for Securities of such series occurring
prior to the applicable Exchange Date shall be payable to Euroclear
and Clearstream on such Interest Payment Date upon delivery by
Euroclear and Clearstream to the Trustee of a certificate or
certificates in the form set forth in Exhibit B-2 to this Indenture
(or in such other forms as may be established pursuant to
Section 301), for credit without further interest on or after
such Interest Payment Date to the respective accounts of Persons
who are the beneficial owners of such temporary Global Security on
such Interest Payment Date and who have each delivered to Euroclear
or Clearstream, as the case may be, a certificate dated no earlier
than 15 days prior to the Interest Payment Date occurring prior to
such Exchange Date in the form set forth as Exhibit B-1 to this Indenture
(or in such other forms as may be established pursuant to
Section 301). Notwithstanding anything to the contrary herein
contained, the certifications made pursuant to this paragraph shall
satisfy the certification requirements of the preceding two
paragraphs of this Section 304(b) and of the third paragraph
of Section 303 of this Indenture and the interests of the
Persons who are the beneficial owners of the temporary Global
Security with respect to which such certification was made will be
exchanged for definitive Securities of the same series and of like
tenor on the Exchange Date or the date of certification if such
date occurs after the Exchange Date, without further act or deed by
such beneficial owners. Except as otherwise provided in this
paragraph, no payments of principal or interest owing with respect
to a beneficial interest in a temporary Global Security will be
made unless and until such interest in such temporary Global
Security shall have been exchanged for an interest in a definitive
Security. Any interest so received by Euroclear and Clearstream and
not paid as herein provided shall be returned to the Trustee prior
to the expiration of two years after such Interest Payment Date in
order to be repaid to the Company.

 

With
respect to Exhibit B-1 or B-2 to this Indenture, the Company may,
in its discretion and if required or desirable under applicable
law, substitute one or more other forms of such exhibits for such
exhibits, eliminate the requirement that any or all certificate be
provided, or change the time that any certificate may be required,
provided
that such
substitute form or forms or notice of elimination or change of such
certification requirement have theretofore been delivered to the
Trustee with a Company Request and such form or forms, elimination
or change is reasonably acceptable to the Trustee.

 

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

 

27

 

 

 

 

 

Subject
to the provisions of this Section 305, upon surrender for
registration of transfer of any Registered Security of any series
at any office or agency of the Company in a Place of Payment for
that series, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Registered Securities of the same
series, of any authorized denominations and of a like aggregate
principal amount, bearing a number not contemporaneously
outstanding, and containing identical terms and
provisions.

 

Subject
to the provisions of this Section 305, at the option of the
Holder, Registered Securities of any series may be exchanged for
other Registered Securities of the same series, of any authorized
denomination or denominations and of a like aggregate principal
amount, containing identical terms and provisions, upon surrender
of the Registered Securities to be exchanged at any such office or
agency. Whenever any such Registered Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Registered Securities which the
Holder making the exchange is entitled to receive. Unless otherwise
specified with respect to any series of Securities as contemplated
by Section 301, Bearer Securities may not be issued in
exchange for Registered Securities.

 

If (but
only if) permitted by the applicable Board Resolution and (subject
to Section 303) set forth in the applicable Officers'
Certificate, or in any indenture supplemental hereto, delivered as
contemplated by Section 301, at the option of the Holder,
Bearer Securities of any series may be exchanged for Registered
Securities of the same series of any authorized denominations and
of a like aggregate principal amount and tenor, upon surrender of
the Bearer Securities to be exchanged at any such office or agency,
with all unmatured coupons and all matured coupons in default
thereto appertaining. If the Holder of a Bearer Security is unable
to produce any such unmatured coupon or coupons or matured coupon
or coupons in default, any such permitted exchange may be effected
if the Bearer Securities are accompanied by payment in funds
acceptable to the Company (or to the Trustee for the Security in
case of matured coupons in default) in an amount equal to the face
amount of such missing coupon or coupons, or the surrender of such
missing coupon or coupons may be waived by the Company and the
Trustee if there is furnished to them such security or indemnity as
they may require to save each of them and any Paying Agent
harmless. If thereafter the Holder of such Security shall surrender
to any Paying Agent any such missing coupon in respect of which
such a payment shall have been made, such Holder shall be entitled
to receive the amount of such payment; provided, however, that, except as
otherwise provided in Section 1002, interest represented by
coupons shall be payable only upon presentation and surrender of
those coupons at an office or agency located outside the United
States. Notwithstanding the foregoing, in case a Bearer Security of
any series is surrendered at any such office or agency in a
permitted exchange for a Registered Security of the same series and
like tenor after the close of business at such office or agency on
(i) any Regular Record Date and before the opening of business
at such office or agency on the relevant Interest Payment Date, or
(ii) any Special Record Date and before the opening of
business at such office or agency on the related proposed date for
payment of Defaulted Interest, such Bearer Security shall be
surrendered without the coupon relating to such Interest Payment
Date or proposed date for payment, as the case may be, and interest
or Defaulted Interest, as the case may be, will not be payable on
such Interest Payment Date or proposed date for payment, as the
case may be, in respect of the Registered Security issued in
exchange for such Bearer Security, but will be payable only to the
Holder of such coupon when due in accordance with the

 

28

 

 

 

 

 

provisions
of this Indenture. Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making
the exchange is entitled to receive.

 

Notwithstanding the
foregoing, except as otherwise specified as contemplated by
Section 301, any permanent Global Security shall be
exchangeable only as provided in this paragraph. If the depository
for any permanent Global Security is DTC, then, unless the terms of
such Global Security expressly permit such Global Security to be
exchanged in whole or in part for definitive Securities, a Global
Security may be transferred, in whole but not in part, only to a
nominee of DTC, or by a nominee of DTC to DTC, or to a successor to
DTC for such Global Security selected or approved by the Company or
to a nominee of such successor to DTC. If at any time DTC notifies
the Company that it is unwilling or unable to continue as
depository for the applicable Global Security or Securities or if
at any time DTC ceases to be a clearing agency registered under the
Exchange Act if so required by applicable law or regulation, the
Company shall appoint a successor depository with respect to such
Global Security or Securities. If (w) a successor depository
for such Global Security or Securities is not appointed by the
Company within 90 days after the Company receives such notice or
becomes aware of such unwillingness, inability or ineligibility,
(x) the Company delivers to the Trustee for Securities of such
series in registered form a Company Order stating that the
Securities of such series shall be exchangeable, (y) an Event
of Default has occurred and is continuing and the beneficial owners
representing a majority in principal amount of the applicable
series of Securities represented by such Global Security or
Securities advise DTC to cease acting as depository for such Global
Security or Securities or (z) the Company, in its sole
discretion, determines at any time that all Outstanding Securities
(but not less than all) of any series issued or issuable in the
form of one or more Global Securities shall no longer be
represented by such Global Security or Securities, then the Company
shall execute, and the Trustee shall authenticate and deliver
definitive Securities of like series, rank, tenor and terms in
definitive form in an aggregate principal amount equal to the
principal amount of such Global Security or Securities. If any
beneficial owner of an interest in a permanent global Security is
otherwise entitled to exchange such interest for Securities of such
series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by
Section 301 and provided that any applicable notice provided
in the permanent Global Security shall have been given, then
without unnecessary delay but in any event not later than the
earliest date on which such interest may be so exchanged, the
Company shall execute, and the Trustee shall authenticate and
deliver definitive Securities in aggregate principal amount equal
to the principal amount of such beneficial owner's interest in such
permanent Global Security. On or after the earliest date on which
such interests may be so exchanged, such permanent Global Security
shall be surrendered for exchange by DTC or such other depository
as shall be specified in the Company Order with respect thereto to
the Trustee, as the Company's agent for such purpose; provided, however, that no such exchanges
may occur during a period beginning at the opening of business 15
days before any selection of Securities to be redeemed and ending
on the relevant Redemption Date if the Security for which exchange
is requested may be among those selected for redemption; and
provided
further that no
Bearer Security delivered in exchange for a portion of a permanent
Global Security shall be mailed or otherwise delivered to any
location in the United States. If a Registered Security is issued
in exchange for any portion of a permanent Global Security after
the close of business at the office or agency where such exchange
occurs on (i) any Regular Record Date and before the opening
of business at such office or agency on the relevant Interest
Payment Date, or (ii) any Special

 

29

 

 

 

 

 

Record
Date and the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, interest
or Defaulted Interest, as the case may be, will not be payable on
such Interest Payment Date or proposed date for payment, as the
case may be, in respect of such Registered Security, but will be
payable on such Interest Payment Date or proposed date for payment,
as the case may be, only to the Person to whom interest in respect
of such portion of such permanent Global Security is payable in
accordance with the provisions of this Indenture.

 

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

 

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

 

No
service charge shall be made to the Holder for any registration of
transfer or conversion or exchange of Securities, but the Company
may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any
registration of transfer or conversion or exchange of Securities,
other than exchanges pursuant to Section 304, 906, 1107 or
1305 not involving any transfer.

 

The
Company or the Trustee, as applicable, shall not be required
(i) to issue, register the transfer of or exchange any
Security if such Security may be among those selected for
redemption during a period beginning at the opening of business 15
days before selection of the Securities to be redeemed under
Section 1103 and ending at the close of business on
(A) if such Securities are issuable only as Registered
Securities, the day of the mailing of the relevant notice of
redemption and (B) if such Securities are issuable as Bearer
Securities, the day of the first publication of the relevant notice
of redemption or, if such Securities are also issuable as
Registered Securities and there is no publication, the mailing of
the relevant notice of redemption, or (ii) to register the
transfer of or exchange any Registered Security so selected for
redemption in whole or in part, except, in the case of any
Registered Security to be redeemed in part, the portion thereof not
to be redeemed, or (iii) to exchange any Bearer Security so
selected for redemption except that such a Bearer Security may be
exchanged for a Registered Security of that series and like tenor,
provided that such
Registered Security shall be simultaneously surrendered for
redemption, or (iv) to issue, register the transfer of or
exchange any Security which has been surrendered for repayment at
the option of the Holder, except the portion, if any, of such
Security not to be so repaid.

 

Furthermore,
notwithstanding any other provision of this Section 305, the
Company will not be required to exchange any Securities if, as a
result of the exchange, the Company would suffer adverse
consequences under any United States law or
regulation.

 

30

 

 

 

 

 

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

 

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

 

Notwithstanding the
provisions of the previous two paragraphs, in case any such
mutilated, destroyed, lost or stolen Security or coupon has become
or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, with coupons
corresponding to the coupons, if any, appertaining to such
destroyed, lost or stolen Security or to the Security to which such
destroyed, lost or stolen coupon appertains, pay such Security or
coupon if the applicant for such payment shall furnish to the
Company and the Trustee for such Security such security or
indemnity as may be required by them to save each of them harmless,
and in the case of destruction, loss or theft, evidence
satisfactory to the Company and Trustee and any agent of any of
them of the destruction, loss or theft of such Security and the
ownership thereof; provided, however, that payment of
principal of (and premium or Make-Whole Amount, if any), and
interest, if any, on, Bearer Securities shall, except as otherwise
provided in Section 1002, be payable only at an office or
agency located outside the United States and, unless otherwise
specified as contemplated by Section 301, any interest on
Bearer Securities shall be payable only upon presentation and
surrender of the coupons appertaining thereto.

 

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

 

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

 

31

 

 

 

 

 

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

 

SECTION
307. Payment of Interest;
Interest Rights Preserved. Except as otherwise specified
with respect to a series of Securities in accordance with the
provisions of Section 301, interest on any Registered Security
that is payable, and is punctually paid or duly provided for, on
any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such
interest payment at the office or agency of the Company maintained
for such purpose pursuant to Section 1002; provided, however, that each installment
of interest on any Registered Security may at the Company's option
be paid by (i) mailing a check for such interest, payable to
or upon the written order of the Person entitled thereto pursuant
to Section 308, to the address of such Person as it appears on
the Security Register or (ii) transfer to an account
maintained by the payee located inside the United
States.

 

Unless
otherwise provided as contemplated by Section 301 with respect
to the Securities of any series, payment of interest may be made,
in the case of a Bearer Security, by transfer to an account
maintained by the payee with a bank located outside the United
States.

 

Unless
otherwise provided as contemplated by Section 301, every
permanent Global Security will provide that interest, if any,
payable on any Interest Payment Date will be paid to DTC, Euroclear
and/or Clearstream, as the case may be, with respect to that
portion of such permanent Global Security held for its account by
Cede & Co. or the Common Depository, as the case may be,
for the purpose of permitting such party to credit the interest
received by it in respect of such permanent Global Security to the
accounts of the beneficial owners thereof.

 

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

 

32

 

 

 

 

 

Except
as otherwise specified with respect to a series of Securities in
accordance with the provisions of Section 301, any interest on
any Registered Security of any series that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date
(herein called "Defaulted Interest") shall forthwith cease to be
payable to the registered Holder thereof on the relevant Regular
Record Date by virtue of having been such Holder, and such
Defaulted Interest may be paid by the Company, at its election in
each case, as provided in clause (1) or
(2) below:

 

(1) The
Company may elect to make payment of any Defaulted Interest to the
Persons in whose names the Registered Securities of such series (or
their respective Predecessor Securities) are registered at the
close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner.
The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each Registered Security
of such series and the date of the proposed payment (which shall
not be less than 20 days after such notice is received by the
Trustee), and at the same time the Company shall deposit with the
Trustee an amount of money in the currency or currencies, currency
unit or units or composite currency or currencies in which the
Securities of such series are payable (except as otherwise
specified pursuant to Section 301 for the Securities of such
series) equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit on or prior to the
date of the proposed payment, such money when deposited to be held
in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall
fix a Special Record Date for the payment of such Defaulted
Interest which shall be not more than 15 days and not less than 10
days prior to the date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed
payment. The Trustee shall promptly notify the Company of such
Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor to be
mailed, first-class postage prepaid, to each Holder of Registered
Securities of such series at his address as it appears in the
Security Register not less than 10 days prior to such Special
Record Date. The Trustee may, in its discretion, in the name and at
the expense of the Company, cause a similar notice to be published
at least once in an Authorized Newspaper in each Place of Payment,
but such publications shall not be a condition precedent to the
establishment of such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special Record Date
therefor having been mailed as aforesaid, such Defaulted Interest
shall be paid to the Persons in whose names the Registered
Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the
following clause (2). In case a Bearer Security of any series is
surrendered at the office or agency in a Place of Payment for such
series in exchange for a Registered Security of such series after
the close of business at such office or agency on any Special
Record Date and before the opening of business at such office or
agency on the related proposed date for payment of Defaulted
Interest, such Bearer Security shall be surrendered without the
coupon relating to such proposed date of payment and Defaulted
Interest will not be payable on such proposed date of payment in
respect of the Registered Security issued in exchange for such
Bearer Security, but will be payable only to the Holder of such
coupon when due in accordance with the provisions of this
Indenture.

 

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

 

33

 

 

 

 

 

Subject
to the foregoing provisions of this Section and Section 305,
each Security delivered under this Indenture upon registration of
transfer of or upon conversion of or in exchange for or in lieu of
any other Security shall carry the rights to interest accrued and
unpaid, and to accrue, which were carried by such other
Security.

 

SECTION
308. Persons Deemed
Owners. Prior to due presentment of a Registered Security
for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the Person in whose
name such Registered Security is registered as the owner of such
Security for the purpose of receiving payment of principal of (and
premium or Make-Whole Amount, if any), and (subject to Sections 305
and 307) interest on, such Registered Security and for all other
purposes whatsoever, whether or not such Registered Security be
overdue, and neither the Company, the Trustee nor any agent of the
Company or the Trustee shall be affected by notice to the contrary.
All such payments so made to any such Person, or upon such Person's
order, shall be valid, and, to the extent of the sum or sums so
paid, effectual to satisfy and discharge the liability for money
payable upon any such Security.

 

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

 

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

 

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

 

SECTION
309. Cancellation.
All Securities and coupons surrendered for payment, redemption,
repayment at the option of the Holder, registration of transfer or
conversion or exchange or for credit against any sinking fund
payment shall, if surrendered to any Person other than the Trustee,
be delivered to the Trustee, and any such Securities and coupons
and Securities and coupons surrendered directly to the Trustee for
any such purpose, upon direction by the

 

34

 

 

 

 

 

Company,
shall be promptly cancelled by it. The Company may at any time
deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have
acquired in any manner whatsoever, and may deliver to the Trustee
(or to any other Person for delivery to the Trustee) for
cancellation any Securities previously authenticated hereunder
which the Company has not issued and sold, and all Securities so
delivered shall be promptly cancelled by the Trustee. If the
Company shall so acquire any of the Securities, however, such
acquisition shall not operate as a redemption or satisfaction of
the indebtedness represented by such Securities unless and until
the same are surrendered to the Trustee for cancellation. No
Securities shall be authenticated in lieu of or in exchange for any
Securities cancelled as provided in this Section, except as
expressly permitted by this Indenture. Cancelled Securities and
coupons held by the Trustee shall be disposed of by the Trustee in
accordance with its customary practices (subject to the record
retention requirements of the Exchange Act).

 

SECTION
310. Computation of
Interest. Except as otherwise specified as contemplated by
Section 301 with respect to Securities of any series, interest
on the Securities of each series shall be computed on the basis of
a 360-day year consisting of twelve 30-day months.

 

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

 

ARTICLE
FOUR - SATISFACTION AND DISCHARGE

 

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

 

(1)
either

 

(A) all
Securities of such series theretofore authenticated and delivered
and all coupons, if any, appertaining thereto (other than
(i) coupons appertaining to Bearer Securities surrendered for
exchange for Registered Securities and maturing after such
exchange, whose surrender is not required or has been waived as
provided in Section 305, (ii) Securities and coupons of
such series which have been destroyed, lost or stolen and which
have been replaced or paid as provided in Section 306,
(iii) coupons appertaining to Securities called for redemption
and maturing after the relevant Redemption Date, whose surrender
has been waived as provided in Section 1106, and
(iv) Securities and coupons of such series for

 

35

 

 

 

 

 

whose
payment money has theretofore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the
Company or discharged from such trust, as provided in
Section 1003) have been delivered to the Trustee for
cancellation; or

 

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

 

(i)
have become due and payable, or

 

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

 

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

 

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

 

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

 

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

 

Notwithstanding
the satisfaction and discharge of this Indenture, the obligations
of the Company to the Trustee and any predecessor Trustee under
Section 606, the obligations of the Company to any
Authenticating Agent under Section 611 and, if money shall
have been deposited with and held by the Trustee pursuant to
subclause (B) of clause (1) of this Section, the
obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive such satisfaction and
discharge.

 

SECTION
402. Application of Trust
Funds. Subject to the provisions of the last paragraph of
Section 1003, all money deposited with the Trustee pursuant to
Section 401 shall be held in trust and applied by it, in
accordance with the provisions of the Securities, the coupons and
this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of
the principal (and premium or Make-Whole Amount, if any), and any
interest for whose payment such money has been deposited with or
received by the Trustee, but such money need not be segregated from
other funds except to the extent required by law.

 

36

 

 

 

 

 

ARTICLE
FIVE - REMEDIES

 

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

 

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

 

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

 

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

 

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

 

(5)
default under any bond, debenture, note, mortgage, indenture or
instrument under which there may be issued or by which there may be
secured or evidenced any indebtedness for money borrowed by the
Company (or by any Subsidiary, the repayment of which the Company
has guaranteed or for which the Company is directly responsible or
liable as obligor or guarantor), having an aggregate principal
amount outstanding of at least $30,000,000, whether such
indebtedness now exists or shall hereafter be created, which
default shall have resulted in such indebtedness becoming or being
declared due and payable prior to the date on which it would
otherwise have become due and payable, without such indebtedness
having been discharged, or such acceleration having been rescinded
or annulled, within a period of 30 days after there shall have been
given, by registered or certified mail, to the Company by the
Trustee or to the Company and the Trustee by the Holders of at
least 10% in principal amount of the Outstanding Securities of that
series a written notice specifying such default and requiring the
Company to cause such indebtedness to be discharged or cause such
acceleration to be rescinded or annulled and stating that such
notice is a "Notice of

 

37

 

 

 

 

 

Default" hereunder;
provided,
however, that,
subject to the provisions of Sections 601 and 602, the Trustee
shall not be deemed to have knowledge of such default unless either
(A) a Responsible Officer of the Trustee shall have knowledge
of such default or (B) the Trustee shall have received written
notice thereof from the Company, from any Holder, from the holder
of any such indebtedness or from the trustee under any such
mortgage, indenture or other instrument; or

 

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

 

(A)
commences a voluntary case,

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

As used
in this Section 501, the term "Bankruptcy Law" means title 11,
U.S. Code or any similar Federal or state law for the relief of
debtors and the term "Custodian" means any receiver, trustee,
assignee, liquidator or other similar official under any Bankruptcy
Law.

 

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

 

38

 

 

 

 

 

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

 

(1) the
Company has paid or deposited with the Trustee a sum sufficient to
pay in the currency, currency unit or composite currency in which
the Securities of such series are payable (except as otherwise
specified pursuant to Section 301 for the Securities of such
series):

 

(A) all
overdue installments of interest on all Outstanding Securities of
that series and any related coupons,

 

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

 

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

 

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

 

(2) all
Events of Default with respect to Securities of that series, other
than the nonpayment of the principal of (or premium or Make-Whole
Amount, if any) or interest on Securities of that series which have
become due solely by such declaration of acceleration, have been
cured or waived as provided in Section 513.

 

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

 

SECTION
503. Collection of
Indebtedness and Suits for Enforcement by Trustee. The
Company covenants that if:

 

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

 

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

 

then
the Company will, upon demand of the Trustee, pay to the Trustee,
for the benefit of the Holders of such Securities of such series
and coupons, the whole amount then due and payable on such
Securities and coupons for principal (and premium or Make-Whole
Amount, if any) and interest, with interest upon any overdue
principal (and premium or Make-Whole Amount, if any) and, to the
extent that payment of such interest shall be legally enforceable,
upon any overdue installments of interest at the rate or rates
borne by or provided for in such Securities, and, in

 

39

 

 

 

 

 

addition
thereto, such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

 

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

 

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

 

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

 

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

 

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

 

and any
custodian, receiver, assignee, trustee, liquidator, sequestrator
(or other similar official) in any such judicial proceeding is
hereby authorized by each Holder of Securities of such series and
coupons to make such payments to the Trustee, and in the event that
the Trustee shall consent to the making of such payments directly
to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of
the Trustee and any predecessor Trustee, their agents and counsel,
and any other amounts due the Trustee or any predecessor Trustee
under Section 606.

 

40

 

 

 

 

 

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

 

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

 

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

 

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

 

FIRST:
To the payment of all amounts due the Trustee and any predecessor
Trustee under Section 606;

 

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

 

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

 

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

 

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

 

41

 

 

 

 

 

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

 

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

 

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

 

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

 

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

 

SECTION
508. Unconditional Right
of Holders to Receive Principal, Premium or Make-Whole Amount, if
any, and Interest. Notwithstanding any other provision in
this Indenture, the Holder of any Security or coupon shall have the
right which is absolute and unconditional to receive payment of the
principal of (and premium or Make-Whole Amount, if any) and
(subject to Sections 305 and 307) interest on such Security or
payment of such coupon on the respective due dates expressed in
such Security or coupon (or, in the case of redemption, on the
Redemption Date) and to institute suit for the enforcement of any
such payment, and such rights shall not be impaired without the
consent of such Holder.

 

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

 

SECTION
510. Rights and Remedies
Cumulative. Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen
Securities or coupons in the last paragraph of Section 306, no
right or remedy herein conferred upon or reserved to the Trustee or
to the Holders of Securities or coupons is intended to be exclusive
of any other right or remedy, and every right and remedy shall, to
the extent permitted by law, be cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right
or remedy.

 

42

 

 

 

 

 

SECTION
511. Delay or Omission Not
Waiver. No delay or omission of the Trustee or of any Holder
of any Security or coupon to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article or by law to
the Trustee or to the Holders may be exercised from time to time,
and as often as may be deemed expedient, by the Trustee or by the
Holders of Securities or coupons, as the case may be.

 

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

 

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

 

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

 

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

 

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

 

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

 

(1) in
the payment of the principal of (or premium or Make-Whole Amount,
if any) or interest on any Security of such series or any related
coupons, or

 

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

 

(3) in
respect of a covenant or provision hereof for the benefit or
protection of the Trustee, without its express written
consent.

 

Upon
any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured,
for every purpose of this Indenture; but no such waiver shall
extend to any subsequent or other default or Event of Default or
impair any right consequent thereon.

 

SECTION
514. Waiver of Usury, Stay
or Extension Laws. The Company covenants (to the extent that
it may lawfully do so) that it will not at any time insist upon,
or

 

43

 

 

 

 

 

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

 

SECTION
515. Undertaking for
Costs. All parties to this Indenture agree, and each Holder
of any Security by his acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit
for the enforcement of any right or remedy under this Indenture, or
in any suit against the 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 Holder, or group of Holders, holding in
the aggregate more than 10% in principal amount of the Outstanding
Securities of any series, or to any suit instituted by any Holder
for the enforcement of the payment of the principal of (or premium
or Make-Whole Amount, if any) or interest on any Security on or
after the respective Stated Maturities expressed in such Security
(or, in the case of redemption, on or after the Redemption
Date).

 

ARTICLE
SIX - THE TRUSTEE

 

SECTION
601. Notice of
Defaults. Within 90 days after the occurrence of any default
hereunder with respect to the Securities of any series, the Trustee
shall transmit in the manner and to the extent provided in TIA
Section 313(c), notice of such default hereunder known to the
Trustee, unless such default shall have been cured or waived;
provided,
however, that,
except in the case of a default in the payment of the principal of
(or premium or Make-Whole Amount, if any) or interest on any
Security of such series, or in the payment of any sinking or
purchase fund installment with respect to the Securities of such
series, the Trustee shall be protected in withholding such notice
if and so long as the board of directors, the executive committee,
or a trust committee of directors 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 the Securities and
coupons of such series; and provided further that in the case of any
default or breach of the character specified in Section 501(4)
with respect to the Securities and coupons of such series, no such
notice to Holders shall be given until at least 60 days after the
occurrence thereof. For the purpose of this Section, the term
"default" means any event which is, or after notice or lapse of
time or both would become, an Event of Default with respect to the
Securities of such series.

 

SECTION
602. Certain Rights of
Trustee. Subject to the provisions of TIA
Section 315(a) through 315(d):

 

(1) the
Trustee may conclusively rely and shall be fully protected in
acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion,

 

44

 

 

 

 

 

report,
notice, request, direction, consent, order, bond, debenture, note,
coupon or other paper or document (whether in its original or
facsimile form) reasonably believed by it to be genuine and to have
been signed or presented by the proper party or
parties;

 

(2) any
request or direction of the Company mentioned herein shall be
sufficiently evidenced by a Company Request or Company Order (other
than delivery of any Security, together with any coupons
appertaining thereto, to the Trustee for authentication and
delivery pursuant to Section 303 which shall be sufficiently
evidenced as provided therein) and any resolution of the Board of
Directors may be sufficiently evidenced by a Board
Resolution;

 

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

 

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

 

(5) the
Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request or
direction of any of the Holders of Securities of any series or any
related coupons pursuant to this Indenture, unless such Holders
shall have offered to the Trustee security or indemnity reasonably
satisfactory to the Trustee against the costs, expenses and
liabilities which might be incurred by it in compliance with such
request or direction;

 

(6) the
Trustee shall not be bound to make any investigation into the facts
or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture, note, coupon or other paper or document,
unless requested in writing so to do by the Holders of not less
than a majority in aggregate principal amount of the Outstanding
Securities of any series; provided that, if the payment
within a reasonable time to the 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 expenses or liabilities as a condition to proceeding;
the reasonable expenses of every such examination shall be paid by
the Holders or, if paid by the Trustee, shall be repaid by the
Holders upon demand. The Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it
may see fit, and, if the Trustee shall determine to make such
further inquiry or investigation, it shall be entitled to examine
the books, records and premises of the Company, relevant to the
facts or matters that are the subject of its inquiry, personally or
by agent or attorney at the expense of the Company and shall incur
no liability or additional liability of any kind by reason of such
inquiry or investigation;

 

(7) 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;

 

45

 

 

 

 

 

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

 

(9) any
permissive right or power available to the Trustee under this
Indenture or any supplement hereto shall not be construed to be a
mandatory duty or obligation;

 

(10)
the Trustee shall not be charged with knowledge of any matter
(including any default, other than as described in
Section 501(1), (2) or (3)) unless and except to the
extent actually known to a Responsible Officer of the Trustee or to
the extent written notice thereof is received by the Trustee at the
Corporate Trust Office;

 

(11)
the Trustee shall have no liability for any inaccuracy in the books
and records of, or for any actions or omissions of, DTC, Euroclear
or Clearstream or any depository acting on behalf of any of
them;

 

(12)
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 by the Trustee to act
hereunder; and

 

(13)
the Trustee may request that the Company deliver an Officers'
Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant
to this Indenture, which Officers' Certificate may be signed by any
person authorized to sign an Officers' Certificate, including any
person specified as so authorized in any such certificate
previously delivered and not superseded.

 

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

 

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

 

SECTION
603. Not Responsible for
Recitals or Issuance of Securities. The recitals contained
herein and in the Securities, except the Trustee's certificate of
authentication, and in any coupons shall be taken as the statements
of the Company, and neither the Trustee nor any Authenticating
Agent assumes any responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this
Indenture or of the Securities or coupons, except that the Trustee
represents that it is duly authorized to execute and deliver this
Indenture, authenticate the Securities and perform its obligations
hereunder. Neither the Trustee nor any Authenticating Agent shall
be accountable for the use or application by the Company of
Securities or the proceeds thereof. The Trustee shall have no
responsibility with respect to any information, statement or
recital in any offering prospectus or other disclosure materials
prepared or distributed with respect to the
Securities.

 

46

 

 

 

 

 

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

 

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

 

SECTION
606. Compensation and
Reimbursement. The Company agrees:

 

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

 

(2)
except as otherwise expressly provided herein, to reimburse each of
the Trustee and any predecessor Trustee upon its request for all
reasonable expenses, and disbursements incurred by the Trustee in
accordance with any provision of this Indenture (including the
reasonable compensation and the reasonable expenses and
disbursements of its agents and counsel), except any such expense
or disbursement as shall be determined to have been caused by its
own negligence, willful misconduct or bad faith; and

 

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

 

When
the Trustee incurs expenses or renders services in connection with
an Event of Default specified in Section 501(7) or
Section 501(8), the expenses (including the reasonable charges
and expenses of its counsel) and the compensation for the services
are intended to constitute expenses of administration under any
applicable Federal or state bankruptcy, insolvency or other similar
law.

 

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

 

The
provisions of this Section shall survive the termination of this
Indenture and the resignation or removal of the
Trustee.

 

47

 

 

 

 

 

SECTION
607. Corporate Trustee
Required; Eligibility; Conflicting Interests. There shall at
all times be a Trustee hereunder which shall be eligible to act as
Trustee under TIA Section 310(a)(1) and shall have at all
times a combined capital and surplus of at least $50,000,000 (or
which shall have a combined capital and surplus of at least
$10,000,000 and whose ultimate parent holding company shall have a
combined capital and surplus of at least $50,000,000. If the
Trustee publishes reports of condition at least annually, pursuant
to law or the requirements of Federal, state, territorial or
District of Columbia supervising or examining authority, then for
the purposes of this Section, the combined capital and surplus of
the Trustee shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published.
If at any time the Trustee shall cease to be eligible in accordance
with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this
Article. Neither the Company nor any Person directly or indirectly
controlling, controlled by, or under common control with the
Company shall serve as Trustee.

 

SECTION
608. Resignation and
Removal; Appointment of Successor.

 

(a) No
resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee in
accordance with the applicable requirements of
Section 609.

 

(b) The
Trustee may resign at any time with respect to the Securities of
one or more series by giving written notice thereof to the Company.
If an instrument of acceptance by a successor Trustee shall not
have been delivered to the Trustee within 60 days after the giving
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.

 

(c) The
Trustee may be removed at any time with respect to the Securities
of any series by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series delivered to
the Trustee and to the Company. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the Trustee
within 60 days after the giving 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.

 

(d) If
at any time:

 

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

 

(2) the
Trustee shall cease to be eligible under Section 607 and shall
fail to resign after written request therefor by the Company or by
any Holder of a Security who has been a bona fide Holder of a
Security for at least six months, or

 

(3) the
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,

 

48

 

 

 

 

 

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

 

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

 

(f) The
Company shall give notice of each resignation and each removal of
the Trustee with respect to the Securities of any series and each
appointment of a successor Trustee with respect to the Securities
of any series in the manner provided for notices to the Holders of
Securities in Section 106. Each notice shall include the name
of the successor Trustee with respect to the Securities of such
series and the address of its Corporate Trust Office.

 

SECTION
609. Acceptance of
Appointment by Successor.

 

(a) In
case of the appointment hereunder of a successor Trustee with
respect to all Securities, every such successor Trustee so
appointed shall execute, acknowledge and deliver to the Company and
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
request of the Company or the successor Trustee, such retiring
Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor Trustee all the rights,
powers and trusts of the retiring Trustee, and shall duly assign,
transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder, subject nevertheless
to its claim, if any, provided for in
Section 606.

 

49

 

 

 

 

 

(b) In
case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and each successor Trustee with
respect to the Securities of one or more series shall execute and
deliver an indenture supplemental hereto, pursuant to Article Nine
hereof, wherein each successor Trustee shall accept such
appointment and which (1) shall contain such provisions as
shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring
with respect to all Securities, shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the
retiring Trustee is not retiring shall continue to be vested in the
retiring Trustee, and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for
or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in
such supplemental indenture shall constitute such Trustees
co-trustees of the same trust and that each such Trustee shall be
trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee;
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 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 all property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those
series to which the appointment of such successor Trustee
relates.

 

(c)
Upon request of any such successor Trustee, the Company shall
execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such
rights, powers and trusts referred to in paragraph (a) or
(b) of this Section 609, as the case may be.

 

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

 

SECTION
610. Merger, Conversion,
Consolidation or Succession to Business. Any corporation
into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Trustee shall be a party,
or any corporation succeeding to all or substantially all of the
corporate trust business of the Trustee, shall be the successor of
the Trustee hereunder, provided such corporation shall
be otherwise qualified and eligible under this Article, without the
execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities or coupons shall
have 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 or coupons so authenticated with the same
effect as if such successor Trustee had itself authenticated such
Securities or coupons. In case any Securities or coupons shall not
have been authenticated by such predecessor Trustee, any such
successor Trustee may authenticate and deliver such Securities or
coupons, in either its own name or that of its predecessor Trustee,
with the full force and effect which this Indenture provides for
the certificate of authentication of the Trustee.

 

50

 

 

 

 

 

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

 

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

 

An
Authenticating Agent for any series of Securities may at any time
resign by giving written notice of resignation to the Trustee for
such series and to the Company. The Trustee for any series of
Securities may at any time terminate the agency of an
Authenticating Agent by giving written notice of termination to
such Authenticating Agent and to the Company. Upon receiving such a
notice of resignation or upon such a termination, or in case at any
time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustee for
such series may appoint a successor Authenticating Agent which
shall be acceptable to the Company and shall give notice of such
appointment to all Holders of Securities of the series with respect
to which such Authenticating Agent will serve in the manner set
forth in Section 106. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with
all the rights, powers and duties of its predecessor

 

51

 

 

 

 

 

hereunder,
with like effect as if originally named as an Authenticating Agent
herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section.

 

The
Company agrees to pay to each Authenticating Agent from time to
time reasonable compensation including reimbursement of its
reasonable expenses for its services under this Section, subject to
Section 606.

 

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

 

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

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

as
Trustee

 

	
 

	
 

	
 

	
 

	

Dated:
                    

 

	
 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

as
Authenticating Agent

 

	
 

	
 

	
 

	
 

	

Dated:
                    

 

	
 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

as
Authenticating Agent

 

 

SECTION
612. Certain Duties and
Responsibilities of the Trustee.

 

(a)
With respect to the Securities of any series, except during the
continuance of an Event of Default with respect to the Securities
of such series:

 

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

 

(2) in
the absence of bad faith on its part, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates or opinions furnished
to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be
furnished to the Trustee, the Trustee shall be under a duty to
examine the same to determine whether or not they conform to the
requirements of this Indenture, but shall not be under any duty to
verify the contents or accuracy thereof.

 

(b) In
case an Event of Default with respect to the Securities of any
series has occurred and is continuing, the Trustee shall, with
respect to Securities of such series, exercise such of the rights
and powers vested in it by this Indenture, and use the same degree
of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own
affairs.

 

52

 

 

 

 

 

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

 

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

 

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

 

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

 

(4) no
provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in
the performance of any of its duties hereunder, or in the exercise
of any of its rights or powers, if it shall have reasonable grounds
for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it;
and, the Trustee shall be under no obligation to exercise any of
its rights and powers under this Indenture at the request of any
Holder, unless such Holder shall have offered to the Trustee
security and indemnity satisfactory to it against any loss,
liability or expense.

 

(d)
Whether or not therein expressly so provided, every provision of
this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the
provisions of this Section 612.

 

(e) The
Trustee shall not be liable for interest on any money or assets
held by it except to the extent the Trustee may agree in writing
with the Company. Assets held in trust by the Trustee need not be
segregated from other assets except to the extent required by
law.

 

ARTICLE
SEVEN - HOLDERS' LISTS AND REPORTS BY TRUSTEE AND
COMPANY

 

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

 

53

 

 

 

 

 

SECTION
702. Reports by
Trustee. The Trustee shall transmit to Holders such reports
concerning the Trustee and its actions under this Indenture as may
be required by TIA Section 313 at the times and in the manner
provided by the TIA, which shall initially be not less than every
twelve months commencing on
                ,
20    . A copy of each such report shall, at
the time of such transmission to Holders, be filed by the Trustee
with each over-the-counter market or securities exchange, if any,
upon which any Securities are quoted or listed, with the Commission
and with the Company. The Company will notify the Trustee when any
Securities are quoted or listed on any over-the-counter market or
securities exchange or delisted therefrom.

 

SECTION
703. Reports by
Company. The Company will:

 

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

 

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

 

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

 

(4)
delivery of such reports, information and documents to the Trustee
is for informational purposes only and the Trustee's receipt of
such shall not constitute constructive notice of any information
contained therein or determinable from information contained
therein, including the Company's compliance with any of its
covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers' Certificates).

 

SECTION
704. Company to Furnish
Trustee Names and Addresses of Holders. The Company will
furnish or cause to be furnished to the Trustee:

 

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

 

54

 

 

 

 

 

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

 

(b) at
such other times as the Trustee may request in writing, within 30
days after the receipt by the Company of any such request, a list
of similar form and content as of a date not more than 15 days
prior to the time such list is furnished,

 

provided, however, that, so long as the
Trustee is the Security Registrar, no such list shall be required
to be furnished.

 

ARTICLE
EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR
CONVEYANCE

 

SECTION
801. Consolidations and
Mergers of Company and Sales, Leases and Conveyances Permitted
Subject to Certain Conditions. The Company may consolidate
with, or sell, lease or convey all or substantially all of its
assets to, or merge with or into any other corporation, provided
that in any such case, (1) either the Company shall be the
continuing corporation, or the successor corporation shall be a
corporation organized and existing under the laws of the United
States or a State thereof and such successor corporation shall
expressly assume the due and punctual payment of the principal of
(and premium or Make-Whole Amount, if any) and any interest on all
of the Securities, according to their tenor, and the due and
punctual performance and observance of all of the covenants and
conditions of this Indenture to be performed by the Company by
supplemental indenture, complying with Article Nine hereof,
satisfactory to the Trustee, executed and delivered to the Trustee
by such corporation, (2) immediately after giving effect to
such transaction and treating any indebtedness which becomes an
obligation of the Company or any Subsidiary as a result thereof as
having been incurred by the Company or such Subsidiary at the time
of such transaction, no Event of Default, and no event which, after
notice or the lapse of time, or both, would become an Event of
Default, shall have occurred and be continuing and (3) the
Company shall have delivered to the Trustee the Officer's
Certificate and Opinion of Counsel required pursuant to
Section 803 below.

 

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

 

55

 

 

 

 

 

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

 

SECTION
803. Officers' Certificate
and Opinion of Counsel. Any consolidation, merger, sale,
lease or conveyance permitted under Section 801 is also
subject to the condition that the Trustee receive an Officers'
Certificate and an Opinion of Counsel to the effect that any such
consolidation, merger, sale, lease or conveyance, and the
assumption by any successor corporation, complies with the
provisions of this Article and that all conditions precedent herein
provided for relating to such transaction have been complied
with.

 

ARTICLE
NINE - SUPPLEMENTAL INDENTURES

 

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

 

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

 

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

 

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

 

(4) to
add to or change any of the provisions of this Indenture to provide
that Bearer Securities may be registrable as to principal, to
change or eliminate any restrictions on the payment of principal of
or premium or Make-Whole Amount, if any, or interest on Bearer
Securities, to permit Bearer Securities to be issued in exchange
for Registered Securities, to permit Bearer Securities to be issued
in exchange for Bearer

 

56

 

 

 

 

 

Securities of other
authorized denominations or to permit or facilitate the issuance of
Securities in uncertificated form, provided that any such action
shall not adversely affect the interests of the Holders of
Securities of any series or any related coupons in any material
respect; or

 

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

 

(6) to
secure the Securities; or

 

(7) to
establish the form or terms of Securities of any series and any
related coupons as permitted or contemplated by Sections 201 and
301; or

 

(8) to
evidence and provide for the acceptance of appointment hereunder by
a successor Trustee with respect to the Securities of one or more
series 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;
or

 

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

 

(10) to
supplement any of the provisions of this Indenture to such extent
as shall be necessary to permit or facilitate the Defeasance and
discharge of any series of Securities pursuant to Sections 401,
1402 and 1403; provided that any such action
shall not adversely affect the interests of the Holders of
Securities of such series and any related coupons or any other
series of Securities in any material respect; or

 

(11) to
make provisions with respect to Holders' rights of conversion with
respect to any series of Securities pursuant to Article
Seventeen.

 

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

 

(1)
change the Stated Maturity of the principal of (or premium or
Make-Whole Amount, if any, on) or any installment of principal of
or interest on, any Security; or reduce the principal amount
thereof or the rate or amount of interest thereon, or any premium
or Make-Whole Amount payable upon the redemption thereof, or reduce
the

 

57

 

 

 

 

 

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 502 or the amount thereof
provable in bankruptcy pursuant to Section 504, or adversely
affect any right of repayment at the option of the Holder of any
Security, or change any Place of Payment where, or the currency or
currencies, currency unit or units or composite currency or
currencies in which, any Security or any premium or Make-Whole
Amount or the interest thereon is payable, or impair the right to
institute suit for the enforcement of any such payment on or after
the Stated Maturity thereof (or, in the case of redemption or
repayment at the option of the Holder, on or after the Redemption
Date or the Repayment Date, as the case may be), or (if Securities
of such series are convertible) adversely affect the right of the
Holder to convert any Security as provided in Article Seventeen, or
modify the provisions of this Indenture with respect to the
subordination of the Securities in a manner materially adverse to
the Holders; or

 

(2)
reduce the percentage in principal amount of the Outstanding
Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose
Holders is required for any waiver with respect to such series (or
compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this
Indenture, or reduce the requirements of Section 1504 for
quorum or voting, or

 

(3)
modify any of the provisions of this Section, Section 513 or
Section 1009, except to increase the required percentage to
effect such action or to provide that certain other provisions of
this Indenture cannot be modified or waived without the consent of
the Holder of each Outstanding Security affected thereby,
provided,
however, that this
clause shall not be deemed to require the consent of any Holder
with respect to changes in the references to "the Trustee" and
concomitant changes in this Section 902 and Section 1009,
or the deletion of this proviso, in accordance with the
requirements of Sections 609(b) and 901(11).

 

It
shall not be necessary for any Act of Holders under this
Section 902 to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

 

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

 

SECTION
903. Execution of
Supplemental Indentures. In executing, or accepting the
additional trusts created by, any supplemental indenture permitted
by this Article or the modification thereby of the trusts created
by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 612) shall be fully protected in relying
upon, an Opinion of Counsel stating that the execution of such
supplemental indenture is authorized or permitted by this
Indenture. The Trustee may, but 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.

 

58

 

 

 

 

 

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

 

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

 

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

 

ARTICLE
TEN - COVENANTS

 

SECTION
1001. Payment of
Principal, Premium or Make-Whole Amount, if any; and
Interest. The Company covenants and agrees for the benefit
of the Holders of each series of Securities that it will duly and
punctually pay the principal of (and premium or Make-Whole Amount,
if any) and interest on the Securities of that series in accordance
with the terms of such series of Securities, any coupons
appertaining thereto and this Indenture. Unless otherwise specified
as contemplated by Section 301 with respect to any series of
Securities, any interest due on Bearer Securities on or before
Maturity shall be payable only upon presentation and surrender of
the several coupons for such interest installments as are evidenced
thereby as they severally mature. Unless otherwise specified with
respect to Securities of any series pursuant to Section 301,
at the option of the Company (upon written notice to the Trustee),
all payments of principal may be paid by check to the registered
Holder of the Registered Security or other Person entitled thereto
against surrender of such Security.

 

SECTION
1002. Maintenance of
Office or Agency. If Securities of a series are issuable
only as Registered Securities, the Company shall maintain in each
Place of Payment for any series of Securities an office or agency
where Securities of that series may be presented or surrendered for
payment or conversion, where Securities of that series may be
surrendered for registration of transfer or conversion or exchange
and where notices and demands to or upon the Company in respect of
the Securities of that series and this Indenture may be served. If
Securities of a series are issuable as Bearer Securities, the
Company will maintain: (A) in the Borough of Manhattan, The
City of New York, an office or agency where any Registered
Securities of that series may be presented or surrendered for
payment or conversion, where any Registered Securities of that
series may be surrendered for registration of transfer, where
Securities of that series may be surrendered for conversion or
exchange, where notices and demands to or upon the Company in
respect of the Securities of that series and this Indenture may be
served and where Bearer Securities of that series and related
coupons may be presented

 

59

 

 

 

 

 

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

 

Unless
otherwise specified with respect to any Securities pursuant to
Section 301, no payment of principal, premium or Make-Whole
Amount or interest on Bearer Securities shall be made at any office
or agency of the Company in the United States or by check mailed to
any address in the United States or by transfer to an account
maintained with a bank located in the United States; provided, however, that, if the
Securities of a series are payable in Dollars, payment of principal
of and any premium or Make-Whole Amount and interest on any Bearer
Security shall be made at the office of the Company's Paying Agent
in the Borough of Manhattan, The City of New York, if (but only if)
payment in Dollars of the full amount of such principal, premium or
Make-Whole Amount, or interest, as the case may be, at all offices
or agencies outside the United States maintained for the purpose by
the Company in accordance with this Indenture, is illegal or
effectively precluded by exchange controls or other similar
restrictions.

 

The
Company may from time to time designate one or more other offices
or agencies (in or outside the Place of Payment) where the
Securities of one or more series may be presented or surrendered
for any or all of such purposes, and may from time to time rescind
such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in accordance
with the requirements set forth above for Securities of any series
for such purposes. The Company will give prompt written notice to
the Trustee of any such designation or rescission and of any change
in the location of any such other office or agency. Unless
otherwise specified with respect to any Securities pursuant to
Section 301 with respect to a series of Securities, the
Company hereby designates as a Place of Payment for each series of
Securities, each of (i) the office or agency of the Company in
the Borough of Manhattan, The City of New York, and (ii) the
Corporate Trust

 

60

 

 

 

 

 

Office
of the Trustee (as Paying Agent); and the Company hereby initially
appoints the Trustee at its Corporate Trust Office as Paying Agent
in such city; and the Company hereby initially appoints as its
agent to receive all such presentations, surrenders, notices and
demands each of the Trustee, at its Corporate Trust
Office.

 

Unless
otherwise specified with respect to any Securities pursuant to
Section 301, if and so long as the Securities of any series
(i) are denominated in a Foreign Currency or (ii) may be
payable in a Foreign Currency, or so long as it is required under
any other provision of the Indenture, then the Company will
maintain with respect to each such series of Securities, or as so
required, at least one exchange rate agent (of which it shall give
written notice to the Trustee).

 

SECTION
1003. Money for Securities
Payments to Be Held in Trust. If the Company shall at any
time act as its own Paying Agent with respect to any series of any
Securities and any related coupons, it will, on or before each due
date of the principal of (and premium or Make-Whole Amount, if
any), or interest on any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled
thereto a sum in the currency or currencies, currency unit or units
or composite currency or currencies in which the Securities of such
series are payable (except as otherwise specified pursuant to
Section 301 for the Securities of such series) sufficient to
pay the principal (and premium or Make-Whole Amount, if any) or
interest so becoming due until such sums shall be paid to such
Persons or otherwise disposed of as herein provided, and will
promptly notify the Trustee of its action or failure so to
act.

 

Whenever the
Company shall have one or more Paying Agents for any series of
Securities and any related coupons, it will, on or before each due
date of the principal of (and premium or Make-Whole Amount, if
any), or interest on any Securities of that series, deposit with a
Paying Agent a sum (in the currency or currencies, currency unit or
units or composite currency or currencies described in the
preceding paragraph) sufficient to pay the principal (and premium
or Make-Whole Amount, 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 Make-Whole Amount, if any, 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.

 

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

 

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

 

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

 

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

 

61

 

 

 

 

 

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

 

Except
as otherwise provided in the Securities of any series, and subject
to applicable laws, any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment
of the principal of (and premium or Make-Whole Amount, if any) or
interest on any Security of any series and remaining unclaimed for
two years after such principal (and premium or Make-Whole Amount,
if any) or interest has become due and payable shall be paid to the
Company upon Company Request or (if then held by the Company) shall
be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to
the Company for payment of such principal of (and premium or
Make-Whole Amount, if any) or interest on any Security, without
interest thereon, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published
once, in an Authorized Newspaper, notice that such money remains
unclaimed and that, after a date specified therein, which shall not
be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to
the Company.

 

SECTION
1004. Existence.
Subject to Article Eight, the Company will do or cause to be done
all things necessary to preserve and keep in full force and effect
its corporate existence, all material rights (by articles of
incorporation, by-laws and statute) and material franchises;
provided,
however, that the
Company shall not be required to preserve any such right or
franchise if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the
business of the Company.

 

SECTION
1005. Maintenance of
Properties. The Company will cause all of its material
properties used or useful in the conduct of its business or the
business of any Subsidiary to be maintained and kept in good
condition, repair and working order, normal wear and tear, casualty
and condemnation excepted, and supplied with all necessary
equipment and will cause to be made all necessary repairs,
renewals, replacements, betterments and improvements thereof (and
the Company may take out of service for a period of time, any of
its properties that have been condemned or suffered any loss due to
casualty in order to make such repairs, betterments and
improvements), all as in the judgment of the Company may be
necessary so that the business carried on in connection therewith
may be properly and advantageously conducted at all times;
provided,
however, that the
Company and its Subsidiaries shall not be prevented from
(i) removing permanently any property that has been condemned
or suffered a loss due to casualty based on the Company's
reasonable judgment that such removal is in the best interest of
the Company, or (ii) selling or otherwise disposing of their
properties for value in the ordinary course of
business.

 

62

 

 

 

 

 

SECTION
1006. Insurance.
The Company will cause each of its and its Subsidiaries' insurable
properties to be insured against loss or damage in an amount deemed
reasonable by the Board of Directors with insurers of recognized
responsibility.

 

SECTION
1007. Payment of Taxes and
Other Claims. The Company will pay or discharge or cause to
be paid or discharged, before the same shall become delinquent,
(1) all taxes, assessments and governmental charges levied or
imposed upon it or any Subsidiary or upon the income, profits or
property of the Company or any Subsidiary, and (2) all lawful
claims for labor, materials and supplies which, if unpaid, might by
law become a lien upon the property of the Company or any
Subsidiary; provided, however, that the Company shall
not be required to pay or discharge or cause to be paid or
discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by
appropriate proceedings.

 

SECTION
1008. Statement as to
Compliance. The Company will deliver to the Trustee, within
120 days after the end of each fiscal year, a brief certificate
from the principal executive officer, principal financial officer
or principal accounting officer as to his or her knowledge of the
Company's compliance with all conditions and covenants under this
Indenture and, in the event of any noncompliance, specifying such
noncompliance and the nature and status thereof. For purposes of
this Section 1008, such compliance shall be determined without
regard to any period of grace or requirement of notice under this
Indenture.

 

SECTION
1009. Waiver of Certain
Covenants. The Company may omit in any particular instance
to comply with any term, provision or condition set forth in
Sections 1004 to 1008, inclusive, if before or after the time for
such compliance the Holders of at least a majority in principal
amount of all outstanding Securities of such series, by Act of such
Holders, either waive such compliance in such instance or generally
waive compliance with such covenant or condition, but no such
waiver shall extend to or affect such covenant or condition except
to the extent so expressly waived, and, until such waiver shall
become effective, the obligations of the Company and the duties of
the Trustee in respect of any such term, provision or condition
shall remain in full force and effect.

 

ARTICLE
ELEVEN - REDEMPTION OF SECURITIES

 

SECTION
1101. Applicability of
Article. Securities of any series which are redeemable
before their Stated Maturity shall be redeemable in accordance with
their terms and (except as otherwise specified as contemplated by
Section 301 for Securities of any series) in accordance with
this Article.

 

SECTION
1102. Election to Redeem;
Notice to Trustee. The election of the Company to redeem any
Securities shall be evidenced by or pursuant to a Board Resolution.
In case of any redemption at the election of the Company of less
than all of the Securities of any series, the Company shall, at
least 45 days prior to the giving of the notice of redemption in
Section 1104 (unless a shorter notice shall be satisfactory to
the Trustee), notify the Trustee of such Redemption Date and of the
principal amount of Securities of such series to be redeemed. In
the case of any redemption of Securities prior to the expiration of
any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers' Certificate evidencing
compliance with such restriction.

 

63

 

 

 

 

 

SECTION
1103. Selection by Trustee
of Securities to Be Redeemed. If less than all the
Securities of any series issued on the same day with the same terms
are to be redeemed, the particular Securities to be redeemed shall
be selected not more than 60 days prior to the Redemption Date by
the Trustee, from the Outstanding Securities of such series issued
on such date with the same terms not previously called for
redemption, by such method as the Trustee shall deem fair and
appropriate and which may provide for the selection for redemption
of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the
principal amount of Securities of such series of a denomination
larger than the minimum authorized denomination for Securities of
that series.

 

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

 

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

 

SECTION
1104. Notice of
Redemption. Notice of redemption shall be given in the
manner provided in Section 106, not less than 30 days nor more
than 60 days prior to the Redemption Date, unless a shorter period
is specified by the terms of such series established pursuant to
Section 301, to each Holder of Securities to be redeemed, but
failure to give such notice in the manner herein provided to the
Holder of any Security designated for redemption as a whole or in
part, or any defect in the notice to any such Holder, shall not
affect the validity of the proceedings for the redemption of any
other such Security or portion thereof.

 

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

 

All
notices of redemption shall state:

 

(1) the
Redemption Date,

 

(2) the
Redemption Price, accrued interest to the Redemption Date payable
as provided in Section 1106, if any,

 

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

 

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

 

64

 

 

 

 

 

(5)
that on the Redemption Date the Redemption Price and accrued
interest to the Redemption Date payable as provided in
Section 1106, if any, will become due and payable upon each
such Security, or the portion thereof, to be redeemed and, if
applicable, that interest thereon shall cease to accrue on and
after said date,

 

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

 

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

 

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

 

(9) if
Bearer Securities of any series are to be redeemed and any
Registered Securities of such series are not to be redeemed, and if
such Bearer Securities may be exchanged for Registered Securities
not subject to redemption on this Redemption Date pursuant to
Section 305 or otherwise, the last date, as determined by the
Company, on which such exchanges may be made,

 

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

 

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

 

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

 

SECTION
1105. Deposit of
Redemption Price. On or prior to any Redemption Date, the
Company shall deposit with the Trustee or with a Paying Agent (or,
if the Company is acting as its own Paying Agent, which it may not
do in the case of a sinking fund payment under Article Twelve,
segregate and hold in trust as provided in Section 1003) an
amount of money in the currency or currencies, currency unit or
units or composite currency or currencies in which the Securities
of such series are payable (except as otherwise specified pursuant
to Section 301 for the Securities of such series) sufficient
to pay on the Redemption Date the Redemption Price of, and (except
if the Redemption Date shall be an Interest Payment Date) accrued
interest on, all the Securities or portions thereof which are to be
redeemed on that date.

 

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

 

65

 

 

 

 

 

SECTION
1106. Securities Payable
on Redemption Date. Notice of redemption having been given
as aforesaid, the Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price
therein specified in the currency or currencies, currency unit or
units or composite currency or currencies in which the Securities
of such series are payable (except as otherwise specified pursuant
to Section 301 for the Securities of such series) (together
with accrued interest, if any, to the Redemption Date), and from
and after such date (unless the Company shall default in the
payment of the Redemption Price and accrued interest) such
Securities shall, if the same were interest-bearing, cease to bear
interest and the coupons for such interest appertaining to any
Bearer Securities so to be redeemed, except to the extent provided
below, shall be void. Upon surrender of any such Security for
redemption in accordance with said notice, together with all
coupons, if any, appertaining thereto maturing after the Redemption
Date, such Security shall be paid by the Company at the Redemption
Price, together with accrued interest, if any, to the Redemption
Date; provided,
however, that
installments of interest on Bearer Securities whose Stated Maturity
is on or prior to the Redemption Date shall be payable only at an
office or agency located outside the United States (except as
otherwise provided in Section 1002) and, unless otherwise
specified as contemplated by Section 301, only upon
presentation and surrender of coupons for such interest; and
provided
further that except
as otherwise provided with respect to Securities convertible into
the Company's Common Stock or Preferred Stock, installments of
interest on Registered Securities whose Stated Maturity is on or
prior to the Redemption Date shall be payable to the Holders of
such Securities, or one or more Predecessor Securities, registered
as such at the close of business on the relevant Record Dates
according to their terms and the provisions of
Section 307.

 

If any
Bearer Security surrendered for redemption shall not be accompanied
by all appurtenant coupons maturing after the Redemption Date, such
Security may be paid after deducting from the Redemption Price an
amount equal to the face amount of all such missing coupons, or the
surrender of such missing coupon or coupons may be waived by the
Company and the Trustee if there be furnished to them such security
or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security
shall surrender to the Trustee or any Paying Agent any such missing
coupon in respect of which a deduction shall have been made from
the Redemption Price, such Holder shall be entitled to receive the
amount so deducted; provided, however, that interest
represented by coupons shall be payable only at an office or agency
located outside the United States (except as otherwise provided in
Section 1002) and, unless otherwise specified as contemplated
by Section 301, only upon presentation and surrender of those
coupons.

 

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

 

SECTION
1107. Securities Redeemed
in Part. Any Registered Security which is to be redeemed
only in part (pursuant to the provisions of this Article or of
Article Twelve) shall be surrendered at a Place of Payment therefor
(with, if the Company or the Trustee so requires, due endorsement
by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his
attorney duly authorized in writing) and the Company shall execute
and the Trustee shall authenticate and deliver to the Holder of
such Security without service charge a new Security or Securities
of the same series, of any authorized

 

66

 

 

 

 

 

denomination
as requested by such Holder in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the
Security so surrendered. If a Global Security is so surrendered,
the Company shall execute and the Trustee shall authenticate and
deliver to the depository, without service charge, a new Global
Security in a denomination equal to and in exchange for the
unredeemed portion of the principal of the Global Security so
surrendered.

 

ARTICLE
TWELVE - SINKING FUNDS

 

SECTION
1201. Applicability of
Article. The provisions of this Article shall be applicable
to any sinking fund for the retirement of Securities of a series
except as otherwise specified as contemplated by Section 301
for Securities of such series.

 

The
minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a
"mandatory sinking fund payment," and any payment in excess of such
minimum amount provided for by the terms of such Securities of any
series is herein referred to as an "optional sinking fund payment."
If provided for by the terms of any Securities of any series, the
cash amount of any mandatory sinking fund payment may be subject to
reduction as provided in Section 1202. Each sinking fund
payment shall be applied to the redemption of Securities of any
series as provided for by the terms of Securities of such
series.

 

SECTION
1202. Satisfaction of
Sinking Fund Payments with Securities. The Company may, in
satisfaction of all or any part of any mandatory sinking fund
payment with respect to the Securities of a series,
(1) deliver Outstanding Securities of such series (other than
any previously called for redemption) together in the case of any
Bearer Securities of such series with all unmatured coupons
appertaining thereto and (2) apply as a credit Securities of
such series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to
the terms of such Securities, as provided for by the terms of such
Securities, or which have otherwise been acquired by the Company;
provided that such
Securities so delivered or applied as a credit have not been
previously so credited. Such Securities shall be received and
credited for such purpose by the Trustee at the applicable
Redemption Price specified in such Securities for redemption
through operation of the sinking fund and the amount of such
mandatory sinking fund payment shall be reduced
accordingly.

 

SECTION
1203. Redemption of
Securities for Sinking Fund. Not less than 60 days prior to
each sinking fund payment date for Securities of any series, the
Company will deliver to the Trustee an Officers' Certificate
specifying the amount of the next ensuing mandatory sinking fund
payment for that series pursuant to the terms of that series, the
portion thereof, if any, which is to be satisfied by payment of
cash in the currency or currencies, currency unit or units or
composite currency or currencies in which the Securities of such
series are payable (except as otherwise specified pursuant to
Section 301 for the Securities of such series) and the portion
thereof, if any, which is to be satisfied by delivering and
crediting Securities of that series pursuant to Section 1202,
and the optional amount, if any, to be added in cash to the next
ensuing mandatory sinking fund payment, and will also deliver to
the Trustee any Securities to be so delivered and credited. If such
Officers' Certificate shall specify an optional amount to be
added

 

67

 

 

 

 

 

in cash
to the next ensuing mandatory sinking fund payment, the Company
shall thereupon be obligated to pay the amount therein specified.
Not less than 30 days before each such sinking fund payment date
the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in
Section 1103 and cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the
manner provided in Section 1104. Such notice having been duly
given, the redemption of such Securities shall be made upon the
terms and in the manner stated in Sections 1106 and
1107.

 

ARTICLE
THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS

 

SECTION
1301. Applicability of
Article. Repayment of Securities of any series before their
Stated Maturity at the option of Holders thereof shall be made in
accordance with the terms of such Securities, if any, and (except
as otherwise specified by the terms of such series established
pursuant to Section 301) in accordance with this
Article.

 

SECTION
1302. Repayment of
Securities. Securities of any series subject to repayment in
whole or in part at the option of the Holders thereof will, unless
otherwise provided in the terms of such Securities, be repaid at a
price equal to the principal amount thereof, together with
interest, if any, thereon accrued to the Repayment Date specified
in or pursuant to the terms of such Securities. The Company
covenants that on or prior to the Repayment Date it will deposit
with the Trustee or with a Paying Agent (or, if the Company is
acting as its own Paying Agent, segregate and hold in trust as
provided in Section 1003) an amount of money in the currency
or currencies, currency unit or units or composite currency or
currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the
Securities of such series) sufficient to pay the principal (or, if
so provided by the terms of the Securities of any series, a
percentage of the principal) of, and (except if the Repayment Date
shall be an Interest Payment Date) accrued interest on, all the
Securities or portions thereof, as the case may be, to be repaid on
such date.

 

SECTION
1303. Exercise of
Option. Securities of any series subject to repayment at the
option of the Holders thereof will contain an "Option to Elect
Repayment" form on the reverse of such Securities. In order for any
Security to be repaid at the option of the Holder, the Trustee must
receive at the Place of Payment therefor specified in the terms of
such Security (or at such other place or places of which the
Company shall from time to time notify the Holders of such
Securities) not earlier than 60 days nor later than 30 days prior
to the Repayment Date (1) the Security so providing for such
repayment together with the "Option to Elect Repayment" form on the
reverse thereof duly completed by the Holder (or by the Holder's
attorney duly authorized in writing) or (2) a telegram, telex,
facsimile transmission or a letter from a member of a national
securities exchange, or the FINRA, or a commercial bank or trust
company in the United States setting forth the name of the Holder
of the Security, the principal amount of the Security, the
principal amount of the Security to be repaid, the CUSIP number, if
any, or a description of the tenor and terms of the Security, a
statement that the option to elect repayment is being exercised
thereby and a guarantee that the Security to be repaid, together
with the duly completed form entitled "Option to Elect Repayment"
on the reverse of the Security, will be received by the Trustee not
later than the fifth Business Day after the date of such telegram,
telex, facsimile transmission or letter; provided, however, that such telegram,
telex, facsimile transmission or letter shall only be effective if
such Security and form duly completed are

 

68

 

 

 

 

 

received
by the Trustee by such fifth Business Day. If less than the entire
principal amount of such Security is to be repaid in accordance
with the terms of such Security, the principal amount of such
Security to be repaid, in increments of the minimum denomination
for Securities of such series, and the denomination or
denominations of the Security or Securities to be issued to the
Holder for the portion of the principal amount of such Security
surrendered that is not to be repaid, must be specified. The
principal amount of any Security providing for repayment at the
option of the Holder thereof may not be repaid in part if,
following such repayment, the unpaid principal amount of such
Security would be less than the minimum authorized denomination of
Securities of the series of which such Security to be repaid is a
part. Except as otherwise may be provided by the terms of any
Security providing for repayment at the option of the Holder
thereof, exercise of the repayment option by the Holder shall be
irrevocable unless waived by the Company.

 

SECTION
1304. When Securities
Presented for Repayment Become Due and Payable. If
Securities of any series providing for repayment at the option of
the Holders thereof shall have been surrendered as provided in this
Article and as provided by or pursuant to the terms of such
Securities, such Securities or the portions thereof, as the case
may be, to be repaid shall become due and payable and shall be paid
by the Company on the Repayment Date therein specified, and on and
after such Repayment Date (unless the Company shall default in the
payment of such Securities on such Repayment Date) such Securities
shall, if the same were interest-bearing, cease to bear interest
and the coupons for such interest appertaining to any Bearer
Securities so to be repaid, except to the extent provided below,
shall be void. Upon surrender of any such Security for repayment in
accordance with such provisions, together with all coupons, if any,
appertaining thereto maturing after the Repayment Date, the
principal amount of such Security so to be repaid shall be paid by
the Company, together with accrued interest, if any, to the
Repayment Date; provided, however, that coupons whose
Stated Maturity is on or prior to the Repayment Date shall be
payable only at an office or agency located outside the United
States (except as otherwise provided in Section 1002) and,
unless otherwise specified pursuant to Section 301, only upon
presentation and surrender of such coupons; and provided further
that, in the case of Registered Securities, installments of
interest, if any, whose Stated Maturity is on or prior to the
Repayment Date shall be payable (but without interest thereon,
unless the Company shall default in the payment thereof) to the
Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record
Dates according to their terms and the provisions of
Section 307.

 

If any
Bearer Security surrendered for repayment shall not be accompanied
by all appurtenant coupons maturing after the Repayment Date, such
Security may be paid after deducting from the amount payable
therefor as provided in Section 1302 an amount equal to the
face amount of all such missing coupons, or the surrender of such
missing coupon or coupons may be waived by the Company and the
Trustee if there be furnished to them such security or indemnity as
they may require to save each of them and any Paying Agent
harmless. If thereafter the Holder of such Security shall surrender
to the Trustee or any Paying Agent any such missing coupon in
respect of which a deduction shall have been made as provided in
the preceding sentence, such Holder shall be entitled to receive
the amount so deducted; provided, however, that interest
represented by coupons shall be payable only at an office or agency
located outside the United States (except as otherwise provided in
Section 1002) and, unless otherwise specified as contemplated
by Section 301, only upon presentation and surrender of those
coupons.

 

69

 

 

 

 

 

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

 

SECTION
1305. Securities Repaid in
Part. Upon surrender of any Registered Security which is to
be repaid in part only, the Company shall execute and the Trustee
shall authenticate and deliver to the Holder of such Security,
without service charge and at the expense of the Company, a new
Registered Security or Securities of the same series, of any
authorized denomination specified by the Holder, in an aggregate
principal amount equal to and in exchange for the portion of the
principal of such Security so surrendered which is not to be
repaid.

 

ARTICLE
FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE

 

SECTION
1401. Applicability of
Article; Company's Option to Effect Defeasance or Covenant
Defeasance. If, pursuant to Section 301, provision is
made for either or both of (a) Defeasance of the Securities of
or within a series under Section 1402 or (b) Covenant
Defeasance of the Securities of or within a series under
Section 1403, then the provisions of such Section or Sections,
as the case may be, together with the other provisions of this
Article (with such modifications thereto as may be specified
pursuant to Section 301 with respect to any Securities), shall
be applicable to such Securities and any coupons appertaining
thereto, and the Company may at its option by Board Resolution, at
any time, with respect to such Securities and any coupons
appertaining thereto, elect to have Section 1402 (if
applicable) or Section 1403 (if applicable) be applied to such
Outstanding Securities and any coupons appertaining thereto upon
compliance with the conditions set forth below in this
Article.

 

SECTION
1402. Defeasance and
Discharge. Upon the Company's exercise of the above option
applicable to this Section with respect to any Securities of or
within a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Outstanding
Securities and any coupons appertaining thereto on the date the
conditions set forth in Section 1404 are satisfied
(hereinafter, "Defeasance"). For this purpose, such Defeasance
means that the Company shall be deemed to have paid and discharged
the entire indebtedness represented by such Outstanding Securities
and any coupons appertaining thereto, which shall thereafter be
deemed to be "Outstanding" only for the purposes of
Section 1405 and the other Sections of this Indenture referred
to in clauses (A) and (B) below, and to have satisfied
all of its other obligations under such Securities and any coupons
appertaining thereto and this Indenture insofar as such Securities
and any coupons appertaining thereto are concerned (and the
Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following which
shall survive until otherwise terminated or discharged hereunder:
(A) the rights of Holders of such Outstanding Securities and
any coupons appertaining thereto to receive, solely from the trust
fund described in Section 1404 and as more fully set forth in
such Section, payments in respect of the principal of (and premium
or Make-Whole Amount, if any) and interest, if any, on such
Securities and any coupons appertaining thereto when
such

 

70

 

 

 

 

 

payments
are due, (B) the Company's obligations with respect to such
Securities under Sections 305, 306, 1002 and 1003, and the
Company's obligations under Section 606 hereof (C) the
rights, powers, trusts, duties and immunities of the Trustee
hereunder and (D) this Article. Subject to compliance with
this Article Fourteen, the Company may exercise its option under
this Section notwithstanding the prior exercise of its option under
Section 1403 with respect to such Securities and any coupons
appertaining thereto.

 

SECTION
1403. Covenant
Defeasance. Upon the Company's exercise of the above option
applicable to this Section with respect to any Securities of or
within a series, the Company shall be released from its obligations
under Sections 1004 to 1009, inclusive, and, if specified pursuant
to Section 301, its obligations under any other covenant
contained herein or in any indenture supplemental hereto, with
respect to such Outstanding Securities and any coupons appertaining
thereto on and after the date the conditions set forth in
Section 1404 are satisfied (hereinafter, "Covenant
Defeasance"), and such Securities and any coupons appertaining
thereto shall thereafter be deemed to be not "Outstanding" for the
purposes of any direction, waiver, consent or declaration or Act of
Holders (and the consequences of any thereof) in connection with
Sections 1004 to 1009, inclusive, or such other covenant, but shall
continue to be deemed "Outstanding" for all other purposes
hereunder. For this purpose, such Covenant Defeasance means that,
with respect to such Outstanding Securities and any coupons
appertaining thereto, the Company may omit to comply with and shall
have no liability in respect of any term, condition or limitation
set forth in any such Section or such other covenant, whether
directly or indirectly, by reason of any reference elsewhere herein
to any such Section or such other covenant or by reason of
reference in any such Section or such other covenant to any other
provision herein or in any other document and such omission to
comply shall not constitute a default or an Event of Default under
Section 501(4) or 501(8) or otherwise, as the case may be,
but, except as specified above, the remainder of this Indenture and
such Securities and any coupons appertaining thereto shall be
unaffected thereby.

 

SECTION
1404. Conditions to
Defeasance or Covenant Defeasance. The following shall be
the conditions to application of Section 1402 or
Section 1403 to any Outstanding Securities of or within a
series and any coupons appertaining thereto:

 

(a) The
Company shall irrevocably have deposited or caused to be deposited
with the Trustee (or another trustee satisfying the requirements of
Section 607 who shall agree to comply with the provisions of
this Article Fourteen applicable to it) as trust funds in trust for
the purpose of making the following payments, specifically pledged
as security for, and dedicated solely to, the benefit of the
Holders of such Securities and any coupons appertaining thereto,
(1) an amount in such currency, currencies or currency unit in
which such Securities and any coupons appertaining thereto are then
specified as payable at Stated Maturity, or (2) Government
Obligations applicable to such Securities and coupons appertaining
thereto (determined on the basis of the currency, currencies or
currency unit in which such Securities and coupons appertaining
thereto are then specified as payable at Stated Maturity) which
through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than
the due date of any payment of principal of (and premium or
Make-Whole Amount, if any) and interest, if any, on such Securities
and any coupons appertaining thereto, money in an amount, or
(3) a combination thereof, in any case, in an amount,
sufficient, without consideration of any reinvestment of such
principal and interest, in the opinion of a nationally

 

71

 

 

 

 

 

recognized
firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and
discharge, and which shall be applied by the Trustee (or other
qualifying trustee) to pay and discharge, (i) the principal of
(and premium or Make-Whole Amount, if any) and interest, if any, on
such Outstanding Securities and any coupons appertaining thereto on
the Stated Maturity of such principal or installment of principal
or interest and (ii) any mandatory sinking fund payments or
analogous payments applicable to such Outstanding Securities and
any coupons appertaining thereto on the day on which such payments
are due and payable in accordance with the terms of this Indenture
and of such Securities and any coupons appertaining
thereto.

 

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

 

(c) No
Event of Default or event which with notice or lapse of time or
both would become an Event of Default with respect to such
Securities and any coupons appertaining thereto shall have occurred
and be continuing on the date of such deposit or, insofar as
Sections 501(6) and 501(7) are concerned, at any time during the
period ending on the 91st day after the date of such deposit (it
being understood that this condition shall not be deemed satisfied
until the expiration of such period).

 

(d) In
the case of an election under Section 1402, the Company shall
have delivered to the Trustee an Opinion of Counsel stating that
(i) the Company has received from, or there has been published
by, the Internal Revenue Service a ruling, or (ii) since the
date of execution of this Indenture, there has been a change in the
applicable Federal income tax law, in either case to the effect
that, and based thereon such opinion shall confirm that, the
Holders of such Outstanding Securities and any coupons appertaining
thereto will not recognize income, gain or loss for Federal income
tax purposes as a result of such Defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such Defeasance had
not occurred.

 

(e) In
the case of an election under Section 1403, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect
that the Holders of such Outstanding Securities and any coupons
appertaining thereto will not recognize income, gain or loss for
Federal income tax purposes as a result of such Covenant Defeasance
and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case
if such Covenant Defeasance had not occurred.

 

(f) The
Company shall have delivered to the Trustee an Officers'
Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the Defeasance under Section 1402 or
the Covenant Defeasance under Section 1403 (as the case may
be) have been complied with and an Opinion of Counsel to the effect
that either (i) as a result of a deposit pursuant to
subsection (a) above and the related exercise of the Company's
option under Section 1402 or Section 1403 (as the case
may be), registration is not required under the Investment Company
Act of 1940, as amended, by the Company, with respect to the trust
funds representing such deposit or by the Trustee for such trust
funds or (ii) all necessary registrations under said Act have
been effected.

 

72

 

 

 

 

 

(g)
Notwithstanding any other provisions of this Section, such
Defeasance or Covenant Defeasance shall be effected in compliance
with any additional or substitute terms, conditions or limitations
which may be imposed on the Company in connection therewith
pursuant to Section 301.

 

(h) The
payment of amounts payable to the Trustee pursuant to this
Indenture shall be paid or provided for to the reasonable
satisfaction of the Trustee.

 

SECTION
1405. Deposited Money and
Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions. Subject to the provisions of the last paragraph
of Section 1003, all money and Government Obligations (or
other property as may be provided pursuant to Section 301)
(including the proceeds thereof) deposited with the Trustee (or
other qualifying trustee, collectively for purposes of this
Section 1405, the "Trustee") pursuant to Section 1404 in
respect of any Outstanding Securities of any series and any coupons
appertaining thereto shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and
any coupons appertaining thereto and this Indenture, to the
payment, either directly or through any Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may
determine, to the Holders of such Securities and any coupons
appertaining thereto of all sums due and to become due thereon in
respect of principal (and premium or Make-Whole Amount, if any) and
interest, but such money need not be segregated from other funds
except to the extent required by law.

 

Unless
otherwise specified with respect to any Security pursuant to
Section 301, if, after a deposit referred to in
Section 1404(a) has been made, (a) the Holder of a
Security in respect of which such deposit was made is entitled to,
and does, elect pursuant to Section 301 or the terms of such
Security to receive payment in a currency or currency unit other
than that in which the deposit pursuant to Section 1404(a) has
been made in respect of such Security, or (b) a Conversion
Event occurs in respect of the currency or currency unit in which
the deposit pursuant to Section 1404(a) has been made, the
indebtedness represented by such Security and any coupons
appertaining thereto shall be deemed to have been, and will be,
fully discharged and satisfied through the payment of the principal
of (and premium or Make-Whole Amount, if any), and interest, if
any, on such Security as the same becomes due out of the proceeds
yielded by converting (from time to time as specified below in the
case of any such election) the amount or other property deposited
in respect of such Security into the currency or currency unit in
which such Security becomes payable as a result of such election or
Conversion Event based on the applicable market exchange rate for
such currency or currency unit in effect on the second Business Day
prior to each payment date, except, with respect to a Conversion
Event, for such currency or currency unit in effect (as nearly as
feasible) at the time of the Conversion Event.

 

The
Company shall pay and indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against the Government
Obligations deposited pursuant to Section 1404 or the
principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of
the Holders of such Outstanding Securities and any coupons
appertaining thereto.

 

Anything in this
Article to the contrary notwithstanding, subject to
Section 606, the Trustee shall deliver or pay to the Company
from time to time upon Company Request any

 

73

 

 

 

 

 

money
or Government Obligations (or other property and any proceeds
therefrom) held by it as provided in Section 1404 which, in
the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered
to the Trustee, are in excess of the amount thereof which would
then be required to be deposited to effect a Defeasance or Covenant
Defeasance, as applicable, in accordance with this
Article.

 

ARTICLE
FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES

 

SECTION
1501. Purposes for Which
Meetings May Be Called. A meeting of Holders of Securities
of any series may be called at any time and from time to time
pursuant to this Article to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be made, given or taken by Holders of
Securities of such series.

 

SECTION
1502. Call, Notice and
Place of Meetings.

 

(a) The
Trustee may at any time call a meeting of Holders of Securities of
any series for any purpose specified in Section 1501, to be
held at such time and at such place as the Trustee shall determine.
Notice of every meeting of Holders of Securities of any series,
setting forth the time and the place of such meeting and in general
terms the action proposed to be taken at such meeting, shall be
given, in the manner provided in Section 106, not less than 20
nor more than 180 days prior to the date fixed for the
meeting.

 

(b) In
case at any time the Company, pursuant to a Board Resolution, or
the Holders of at least 25% in principal amount of the Outstanding
Securities of any series shall have requested the Trustee to call a
meeting of the Holders of Securities of such series for any purpose
specified in Section 1501, by written request setting forth in
reasonable detail the action proposed to be taken at the meeting,
and the Trustee shall not have made the first publication of the
notice of such meeting within 20 days after receipt of such request
or shall not thereafter proceed to cause the meeting to be held as
provided herein, then the Company or the Holders of Securities of
such series in the amount above specified, as the case may be, may
determine the time and the place for such meeting and may call such
meeting for such purposes by giving notice thereof as provided in
subsection (a) of this Section.

 

SECTION
1503. Persons Entitled to
Vote at Meetings. To be entitled to vote at any meeting of
Holders of Securities of any series, a Person shall be (1) a
Holder of one or more Outstanding Securities of such series, or
(2) a Person appointed by an instrument in writing as proxy
for a Holder or Holders of one or more Outstanding Securities of
such series by such Holder or Holders. The only Persons who shall
be entitled to be present or to speak at any meeting of Holders of
Securities of any series shall be the Persons entitled to vote at
such meeting and their counsel, any representatives of the Trustee
and its counsel and any representatives of the Company and its
counsel.

 

SECTION
1504. Quorum;
Action. The Persons entitled to vote a majority in principal
amount of the Outstanding Securities of a series shall constitute a
quorum for a meeting of Holders of Securities of such series;
provided,
however, that if
any action is to be taken at such meeting with respect to a consent
or waiver which this Indenture expressly provides may
be

 

74

 

 

 

 

 

given
by the Holders of not less than a specified percentage in principal
amount of the Outstanding Securities of a series, the Persons
entitled to vote such specified percentage in principal amount of
the Outstanding Securities of such series shall constitute a
quorum. In the absence of a quorum within 30 minutes after the time
appointed for any such meeting, the meeting shall, if convened at
the request of Holders of Securities of such series, be dissolved.
In any other case the meeting may be adjourned for a period of not
less than 10 days as determined by the chairman of the meeting
prior to the adjournment of such meeting. In the absence of a
quorum at the reconvening of any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less
than 10 days; at the reconvening of any meeting adjourned or
further adjourned for lack of a quorum, the Persons entitled to
vote 25% in aggregate principal amount of the then Outstanding
Securities shall constitute a quorum for the taking of any action
set forth in the notice of the original meeting. Notice of the
reconvening of any adjourned meeting shall be given as provided in
Section 1502(a), except that such notice need be given only
once not less than five days prior to the date on which the meeting
is scheduled to be reconvened.

 

Except
as limited by the proviso to Section 902, any resolution
presented to a meeting or adjourned meeting duly reconvened at
which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Persons entitled to vote a majority in
aggregate principal amount of the Outstanding Securities
represented at such meeting; provided, however, that, except as
limited by the proviso to Section 902, any resolution with
respect to any request, demand, authorization, direction, notice,
consent, waiver or other action which this Indenture expressly
provides may be made, given or taken by the Holders of a specified
percentage, which is less than a majority, in principal amount of
the Outstanding Securities of a series may be adopted at a meeting
or an adjourned meeting duly reconvened and at which a quorum is
present as aforesaid by the affirmative vote of the Holders of such
specified percentage in principal amount of the Outstanding
Securities of that series.

 

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

 

Notwithstanding the
foregoing provisions of this Section 1504, if any action is to
be taken at a meeting of Holders of Securities of any series with
respect to any request, demand, authorization, direction, notice,
consent, waiver or other action that this Indenture expressly
provides may be made, given or taken by the Holders of a specified
percentage in principal amount of all Outstanding Securities
affected thereby, or of the Holders of such series and one or more
additional series:

 

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

 

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

 

75

 

 

 

 

 

SECTION
1505. Determination of
Voting Rights; Conduct and Adjournment of
Meetings.

 

(a)
Notwithstanding any provisions of this Indenture, the Trustee may
make such reasonable regulations as it may deem advisable for any
meeting of Holders of Securities of a series in regard to proof of
the holding of Securities of such series and of the appointment of
proxies and in regard to the appointment and duties of inspectors
of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters
concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations,
the holding of Securities shall be proved in the manner specified
in Section 104 and the appointment of any proxy shall be
proved in the manner specified in Section 104 or by having the
signature of the Person executing the proxy witnessed or guaranteed
by any trust company, bank or banker authorized by Section 104
to certify to the holding of Bearer Securities. Such regulations
may provide that written instruments appointing proxies, regular on
their face, may be presumed valid and genuine without the proof
specified in Section 104 or other proof.

 

(b) The
Trustee shall, by an instrument in writing appoint a temporary
chairman of the meeting, unless the meeting shall have been called
by the Company or by Holders of Securities as provided in
Section 1502(b), in which case the Company or the Holders of
Securities of the series calling the meeting, as the case may be,
shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected
by vote of the Persons entitled to vote a majority in principal
amount of the Outstanding Securities of such series represented at
the meeting.

 

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

 

(d) Any
meeting of Holders of Securities of any series duly called pursuant
to Section 1502 at which a quorum is present may be adjourned
from time to time by Persons entitled to vote a majority in
principal amount of the Outstanding Securities of such series
represented at the meeting, and the meeting may be held as so
adjourned without further notice.

 

SECTION
1506. Counting Votes and
Recording Action of Meetings. The vote upon any resolution
submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the
signatures of the Holders of Securities of such series or of their
representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or
represented by them. The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at
the meeting for or against any resolution and who shall make and
file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at
least in duplicate, of the proceedings of each meeting of Holders
of Securities of any Series shall be prepared by the secretary of
the meeting and there shall be attached to said record the
original

 

76

 

 

 

 

 

reports
of the inspectors of votes on any vote by ballot taken thereat and
affidavits by one or more persons having knowledge of the fact,
setting forth a copy of the notice of the meeting and showing that
said notice was given as provided in Section 1502 and, if
applicable, Section 1504. Each copy shall be signed and
verified by the affidavits of the permanent chairman and secretary
of the meeting and one such copy shall be delivered to the Company
and another to the Trustee to be preserved by the Trustee, the
latter to have attached thereto the ballots voted at the meeting.
Any record so signed and verified shall be conclusive evidence of
the matters therein stated.

 

ARTICLE
SIXTEEN - SUBORDINATION OF SECURITIES

 

SECTION
1601. Agreement to
Subordinate. Notwithstanding anything in this Indenture to
the contrary (other than Article Four of this Indenture), the
Company covenants and agrees, and each Holder of a Security, by his
acceptance thereof, likewise covenants and agrees, that, to the
extent and in the manner hereinafter set forth in this Article, the
Indebtedness represented by the Securities and the payment of any
Obligations with respect to each and all of the Securities are
hereby expressly made subordinate and subject in right of payment
to the prior payment in full of all Senior
Indebtedness.

 

SECTION
1602. Payment Over of
Proceeds upon Dissolution, Etc. In the event of (a) any
insolvency or bankruptcy case or Proceeding, or any receivership,
liquidation, reorganization or other similar case or Proceeding in
connection therewith, relative to the Company or to its creditors,
as such, or to its assets, or (b) any liquidation, dissolution
or other winding up of the Company, whether voluntary or
involuntary and whether or not involving insolvency or bankruptcy,
or (c) any assignment for the benefit of creditors or any
other marshaling of assets and liabilities of the Company, then and
in any such event specified in (a), (b) or (c) above
(each such event, if any, herein sometimes referred to as a
"Proceeding")

 

(1) the
holders of Senior Indebtedness shall first be entitled to receive
payment in full of all Obligations due or to become due on or in
respect of all Senior Indebtedness, or provision shall be made for
such payment in cash or cash equivalents or otherwise in a manner
satisfactory to the holders of Senior Indebtedness, before the
Holders of the Securities are entitled to receive any payment or
distribution on account of principal of or premium, if any, or
interest on or other Obligations in respect of the Securities or on
account of any purchase, redemption or other acquisition of
Securities by the Company or any Subsidiary (individually and
collectively, a "Securities Payment"), and

 

(2) any
payment or distribution of assets of the Company of any kind or
character, whether in cash, property or securities (other than
Capital Stock or securities of the Company as reorganized or
readjusted, or securities of the Company or any other corporation
provided for by a plan of reorganization or readjustment, the
payment of which is subordinate, at least to the extent provided in
this Article Sixteen with respect to the Securities, to the
payment in full, without diminution or modification by such plan,
of all Senior Indebtedness), to which the Holders would be entitled
except for the provisions of this Article Sixteen, shall be
paid by the liquidating trustee or agent or other person making
such a payment or distribution, directly to the holders of Senior
Indebtedness) (or their representative(s) or trustee(s) acting on
their behalf), ratably according to the

 

77

 

 

 

 

 

aggregate amounts
remaining unpaid on account of the principal of or interest on and
other amounts due on the Senior Indebtedness held or represented by
each, to the extent necessary to make payment in full of all Senior
Indebtedness remaining unpaid, after giving effect to any
concurrent payment or distribution to the holders of such Senior
Indebtedness.

 

In the
event that, notwithstanding the foregoing provisions of this
Section 1602, the Trustee or the Holder of any Security shall
have received any payment or distribution of assets of the Company
of any kind or character, whether in cash, property or securities
(other than Capital Stock or securities of the Company as
reorganized or readjusted, or securities of the Company or any
other corporation provided for by a plan of reorganization or
readjustment, the payment of which is subordinate, at least to the
extent provided in this Article with respect to the Securities, to
the payment in full, without diminution or modification by such
plan, of Senior Indebtedness), before all Senior Indebtedness is
paid in full or payment thereof provided for in cash or cash
equivalents or otherwise in a manner satisfactory to the holders of
Senior Indebtedness, such payment or distribution shall be held in
trust for the benefit of, and be paid over to, the holders of the
Senior Indebtedness remaining unpaid (or their representative(s) or
trustee(s) acting on their behalf), ratably as aforesaid, for
application to the payment of such Senior Indebtedness until such
Senior Indebtedness shall have been paid in full, after giving
effect to any concurrent payment or distribution to the holders of
such Senior Indebtedness.

 

The
consolidation of the Company with, or the merger of the Company
into, another Person or the liquidation or dissolution of the
Company following the conveyance or transfer of all or
substantially all of its properties and assets as an entirety to
another Person upon the terms and conditions set forth in Article
Eight shall not be deemed a Proceeding for the purposes of this
Section 1602 if the Person formed by such consolidation or
into which the Company is merged or the Person which acquires by
conveyance or transfer such properties and assets as an entirety,
as the case may be, shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions set forth in
Article Eight.

 

SECTION
1603. No Payment When
Senior Indebtedness in Default. Anything in this Indenture
to the contrary notwithstanding, no payment on account of principal
of or redemption of, interest on or other amounts due on the
Securities, and no redemption, purchase, or other acquisition of
the Securities, shall be made by or on behalf of the Company
(i) unless full payment of amounts then due for principal and
interest and of all other obligations then due on all Senior
Indebtedness has been made or duly provided for pursuant to the
terms of the instrument governing such Senior Indebtedness,
(ii) if, at the time of such payment, redemption, purchase or
other acquisition, or immediately after giving effect thereto,
there shall exist under any Senior Indebtedness, or any agreement
pursuant to which any Senior Indebtedness is issued, any default,
which default shall not have been cured or waived and which default
shall have resulted in the full amount of such Senior Indebtedness
being declared due and payable or (iii) if, at the time of
such payment, redemption, purchase or other acquisition, the
Trustee shall have received written notice from the holder or
holders of any Senior Indebtedness or their representative or
representatives (a "Payment Blockage Notice") that there exists
under such Senior Indebtedness, or any agreement pursuant to which
such Senior Indebtedness is issued, any default, which default
shall not have been cured or waived, permitting the holders thereof
to declare the full amount of such Senior Indebtedness due and
payable, but only for the period (the

 

78

 

 

 

 

 

"Payment
Blockage Period") commencing on the date of receipt of the Payment
Blockage Notice and ending (unless earlier terminated by notice
given to the Trustee by the Holders of such Senior Indebtedness) on
the earlier of (A) the date on which such event of default
shall have been cured or waived or (B) 180 days from the
receipt of the Payment Blockage Notice. Upon termination of a
Payment Blockage Period, payments on account of principal of or
interest on the Securities and redemptions, purchases or other
acquisitions may be made by or on behalf of the Company.
Notwithstanding anything herein to the contrary, (A) only one
Payment Blockage Notice may be given during any period of 360
consecutive days with respect to the same event of default and any
other events of default on the same issue of Senior Indebtedness
existing and known to the person giving such notice at the time of
such notice and (B) no new Payment Blockage Period may be
commenced by the holder or holders of the same issue of Senior
Indebtedness or their representative or representatives during any
period of 360 consecutive days unless all events of default which
were the object of the immediately preceding Payment Blockage
Notice, and any other event of default on the same issue of Senior
Indebtedness existing and known to the person giving such notice at
the time of such notice, have been cured or waived.

 

In the
event that, notwithstanding the provisions of this
Section 1603, payments are made by or on behalf of the Company
in contravention of the provisions of this Section 1603, such
payments shall be held by the Trustee, any Paying Agent or the
Holders, as applicable, in trust for the benefit of, and shall be
paid over to and delivered to, the holders of Senior Indebtedness
or their representative or the trustee under the indenture or other
agreement (if any), pursuant to which any instruments evidencing
any Senior Indebtedness may have been issued, as their respective
interests may appear, for application to the payment of all Senior
Indebtedness remaining unpaid to the extent necessary to pay all
Senior Indebtedness in full in accordance with the terms of such
Senior Indebtedness, after giving effect to any concurrent payment
or distribution to or for the holders of Senior
Indebtedness.

 

The
provisions of this Section shall not apply to any payment with
respect to which Section 1602 would be
applicable.

 

SECTION
1604. Reliance by Senior
Indebtedness on Subordination Provisions. Each Holder of any
Security by his acceptance thereof acknowledges and agrees that the
foregoing subordination provisions are, and are intended to be, an
inducement and a consideration for each holder of any Senior
Indebtedness, whether such Senior Indebtedness was created or
acquired before or after the issuance of the Securities, to acquire
and continue to hold, or to continue to hold, such Senior
Indebtedness, and such holder of Senior Indebtedness shall be
deemed conclusively to have relied on such subordination provisions
in acquiring and continuing to hold or in continuing to hold such
Senior Indebtedness.

 

SECTION
1605. Subrogation to
Rights of Holders of Senior Indebtedness. Subject to the
payment in full of all Obligations due or to become due on or in
respect of Senior Indebtedness, or the provision for such payment
in cash or cash equivalents or otherwise in a manner satisfactory
to the holders of Senior Indebtedness, the Holders of the
Securities shall be subrogated to the extent of the payments or
distributions made to the holders of such Senior Indebtedness
pursuant to the provisions of this Article Sixteen to the
rights of the holders of such Senior Indebtedness to receive
payments and distributions of cash, property and
securities

 

79

 

 

 

 

 

applicable
to the Senior Indebtedness until the principal of and premium, if
any, and interest on the Securities shall be paid in full. For
purposes of such subrogation, no payments or distributions to the
holders of the Senior Indebtedness of any cash, property or
securities to which the Holders of the Securities or the Trustee
would be entitled except for the provisions of this
Article Sixteen, and no payments over pursuant to the
provisions of this Article Sixteen to the holders of Senior
Indebtedness by Holders of the Securities or the Trustee, shall, as
among the Company, its creditors other than holders of Senior
Indebtedness and the Holders of the Securities, be deemed to be a
payment or distribution by the Company to or on account of the
Senior Indebtedness.

 

SECTION
1606. Provisions Solely to
Define Relative Rights. The provisions of this
Article Sixteen are and are intended solely for the purpose of
defining the relative rights of the Holders of the Securities on
the one hand and the holders of Senior Indebtedness on the other
hand. Nothing contained in this Article or elsewhere in this
Indenture or in the Securities is intended to or shall
(a) impair, as among the Company, its creditors other than
holders of Senior Indebtedness and the Holders of the Securities,
the obligation of the Company, which is absolute and unconditional
(and which, subject to the rights under this Article Sixteen
of the holders of Senior Indebtedness, is intended to rank equally
with all other general obligations of the Company), to pay to the
Holders of the Securities the principal of and premium, if any, and
interest on the Securities as and when the same shall become due
and payable in accordance with their terms; or (b) affect the
relative rights against the Company of the Holders of the
Securities and creditors of the Company other than the holders of
Senior Indebtedness; or (c) prevent the Trustee or the Holder
of any Security from exercising all remedies otherwise permitted by
applicable law upon default under this Indenture, subject to the
rights, if any, under this Article of the holders of Senior
Indebtedness to receive cash, property and securities otherwise
payable or deliverable to the Trustee or such Holder.

 

SECTION
1607. Trustee to
Effectuate Subordination. Each Holder of a Security by his
acceptance thereof authorizes and directs the Trustee on his behalf
to take such action as may be necessary or appropriate to
effectuate, as between the Holders of the Securities and the
holders of Senior Indebtedness, the subordination provided in this
Article Sixteen and appoints the Trustee his attorney-in-fact
for any and all such purposes, including, in the event of any
dissolution, winding up or liquidation or reorganization under any
applicable bankruptcy law of the Company (whether in bankruptcy,
insolvency or receivership Proceedings or otherwise), the timely
filing of a claim for the unpaid balance of such Holder's
Securities in the form required in such Proceedings and the causing
of such claim to be approved. If the Trustee does not file a claim
or proof of debt in the form required in such Proceedings prior to
30 days before the expiration of the time to file such claims or
proofs, then the holders of Senior Indebtedness, jointly, or their
representatives shall have the right to file an appropriate claim
for and on behalf of the Holders and to demand, sue for, collect,
receive and receipt for the payments and distributions in respect
of the Securities which are required to be paid or delivered to the
holders of Senior Indebtedness as provided in this Article Sixteen
and to take all such other action in the name of the Holders or
otherwise, as such holder of Senior Indebtedness or representative
thereof may determine to be necessary or appropriate for the
enforcement of the provisions of this
Article Sixteen.

 

80

 

 

 

 

 

SECTION
1608. No Waiver of
Subordination Provisions. No right of any present or future
holder of any Senior Indebtedness to enforce subordination as
herein provided shall at any time in any way be prejudiced or
impaired by any act or failure to act on the part of the Company or
by any act or failure to act, in good faith, by any such holder or
any representative or trustee therefor, or by any non-compliance by
the Company with the terms, provisions and covenants of this
Indenture, regardless of any knowledge thereof any such holder may
have or be otherwise charged with.

 

Without
in any way limiting the generality of the foregoing paragraph, the
holders of Senior Indebtedness may, at any time from time to time,
without the consent of or notice to the Trustee or the Holders of
the Securities, without incurring responsibility to the Holders of
the Securities and without impairing or releasing the subordination
provided in this Article Sixteen or the obligations hereunder
of the Holders of the Securities to the holders of Senior
Indebtedness, do any one or more of the following: (i) change
the manner, place or terms of payment or extend the time of payment
of, or renew or alter, Senior Indebtedness, or otherwise amend or
supplement in any manner Senior Indebtedness or any instrument
evidencing the same or any agreement under which Senior
Indebtedness is outstanding; (ii) sell, exchange, release or
otherwise deal with any property pledged, mortgaged or otherwise
securing Senior Indebtedness; (iii) release any Person liable
in any manner for the collection of Senior Indebtedness and settle
or compromise Senior Indebtedness (which, to the extent so settled
and compromised, shall be deemed to have been paid in full for all
purposes hereof); (iv) apply any amounts received to any
liability of the Company owing to holders of Senior Indebtedness;
and (v) exercise or refrain from exercising any rights against
the Company and any other Person.

 

SECTION
1609. Notice to
Trustee. The Company shall give prompt written notice to the
Trustee of any default or event of default with respect to any
Senior Indebtedness or of any fact known to the Company which would
prohibit the making of any payment to or by the Trustee in respect
of the Securities pursuant to the provisions of this
Article Sixteen. Notwithstanding the provisions of this
Article Sixteen or any other provision of this Indenture, the
Trustee shall not be charged with knowledge of the existence of any
facts which would prohibit the making of any payment to or by the
Trustee in respect of the Securities, unless and until the Trustee
shall have received written notice thereof from the Company or a
holder of Senior Indebtedness or from any representative or trustee
acting on their behalf; and, prior to the receipt of any such
written notice, the Trustee, subject to the provisions of
Section 612, shall be entitled in all respects to assume that
no such facts exist; provided, however, that if the Trustee
shall not have received the notice provided for in this Section at
least three Business Days prior to the date upon which by the terms
hereof any money may become payable for any purpose (including,
without limitation, the payment of the principal of and premium, if
any, or interest on any Security), then, anything herein contained
to the contrary notwithstanding, the Trustee shall have full power
and authority to receive such money and to apply the same to the
purpose for which such money was received and shall not be affected
by any notice to the contrary which may be received by it within
three Business Days prior to such date. Nothing contained in this
Article Sixteen or any other Article of this Indenture or in any of
the Securities shall prevent (a) the Company, at any time
except during the pendency of any Proceeding, or under the
conditions described in Section 1603, from making payments at
any time in respect of the Securities, or (b) the application
by the Trustee of any money deposited with it hereunder to the
payment of or on account of the Securities, or the retention
thereof by any Holder, if the Trustee did not have notice, as
provided in this Section 1609, that such payment would have
been prohibited by the provisions of this
Article Sixteen.

 

81

 

 

 

 

 

Subject
to the provisions of Section 612, the Trustee shall be
entitled to rely on the delivery to it of a written notice by a
Person representing himself to be a holder of Senior Indebtedness
(or a representative or trustee therefor) to establish that such
notice has been given by a holder of Senior Indebtedness (or a
trustee therefor). In the event that the Trustee determines in good
faith that further evidence is required with respect to the right
of any Person as a holder of Senior Indebtedness to participate in
any payment or distribution pursuant to this Article Sixteen,
the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness held by such Person, the extent to which such Person
is entitled to participate in such payment or distribution and any
other facts pertinent to the rights of such Person under this
Article Sixteen, and if such evidence is not furnished, the
Trustee may defer any payment to such Person pending judicial
determination as to the right of such Person to receive such
payment.

 

SECTION
1610. Reliance on Judicial
Order or Certificate of Liquidating Agent. Upon any payment
or distribution of assets of the Company referred to in this
Article Sixteen, the Trustee, subject to the provisions of
Section 612, and the Holders of the Securities shall be
entitled to rely upon any order or decree entered by any court of
competent jurisdiction in which any Proceeding is pending, or a
certificate of the trustee in bankruptcy, receiver, liquidating
trustee, custodian, assignee for the benefit of creditors, agent or
other Person making such payment or distribution, delivered to the
Trustee or to the Holders of Securities, for the purpose of
ascertaining the Persons entitled to participate in such payment or
distribution, the holders of the Senior Indebtedness and other
indebtedness of the Company, the amount thereof or payable thereon,
the amount or amounts paid or distributed thereon and all other
facts pertinent thereto or to this Article.

 

SECTION
1611. Trustee Not
Fiduciary for Holders of Senior Indebtedness. The Trustee
shall not be deemed to owe any fiduciary duty to the holders of
Senior Indebtedness. Nothing contained in this Article Sixteen
or elsewhere in this Indenture, or in any of the Securities, shall
prevent the application by the Trustee of any moneys which were
deposited with it hereunder, prior to its receipt of written notice
of facts which would prohibit such application, for the purpose of
the payment of or on account of the principal of or interest on,
the Securities unless, prior to the date on which such application
is made by the Trustee, the Trustee shall be charged with notice
under Section 1609 hereof of the facts which would prohibit
the making of such application.

 

SECTION
1612. Rights of Trustee as
Holder of Senior Indebtedness; Preservation of Trustee's
Rights. The Trustee in its individual capacity shall be
entitled to all the rights set forth in this Article Sixteen
with respect to any Senior Indebtedness which may at any time be
held by it, to the same extent as any other holder of Senior
Indebtedness, and nothing in this Indenture shall deprive the
Trustee of any of its rights as such holder. Nothing in this
Article shall apply to claims of, or payments to, the Trustee under
or pursuant to Section 606.

 

SECTION
1613. Article Applicable
to Paying Agents. In case at any time any Paying Agent other
than the Trustee shall have been appointed by the Company and be
then

 

82

 

 

 

 

 

acting
hereunder, the term "Trustee" as used in this Article Sixteen
shall in such case (unless the context otherwise requires) be
construed as extending to and including such Paying Agent within
its meaning as fully for all intents and purposes as if such Paying
Agent were named in this Article in addition to or in place of the
Trustee; provided,
however, that
Section 1612 shall not apply to the Company or any Affiliate
of the Company if it or such Affiliate acts as Paying
Agent.

 

ARTICLE
SEVENTEEN - CONVERSION OF SECURITIES

 

SECTION
1701. Applicability of
Article; Conversion Privilege and Conversion Price.
Securities of any series which are convertible shall be convertible
in accordance with their terms and (except as otherwise specified
as contemplated by Section 301 for Securities of any series)
in accordance with this Article Seventeen. Subject to and upon
compliance with the provisions of this Article Seventeen, at
any time during the period specified in the Securities, at the
option of the Holder thereof, any Security or any portion of the
principal amount thereof which is $1,000 or an integral multiple of
$1,000 may be converted at the principal amount thereof, or of such
portion thereof, into fully paid and nonassessable shares
(calculated as to each conversion to the nearest 1/100 of a share)
of Common Stock of the Company, at the Conversion Price, determined
as hereinafter provided, in effect at the time of conversion. In
case a Security or portion thereof is called for redemption, such
conversion right in respect of the Security or portion so called
shall expire at the close of business on the Business Day
immediately preceding the Redemption Date, unless the Company
defaults in making the payment due upon redemption, in which case
such conversion right shall terminate on the date such default is
cured.

 

The
price at which shares of Common Stock shall be delivered upon
conversion (herein called the "Conversion Price") of Securities of
any series shall be specified in such Securities. The Conversion
Price shall be adjusted in certain instances as provided in
Section 1704.

 

In case
the Company shall, by dividend or otherwise, declare or make a
distribution on its Common Stock referred to in paragraph
(4) of Section 1704, the Holder of each Security, upon
the conversion thereof pursuant to this Article Seventeen
subsequent to the close of business on the date fixed for the
determination of stockholders entitled to receive such distribution
and prior to the effectiveness of the Conversion Price adjustment
in respect of such distribution pursuant to paragraph (4) of
Section 1704, shall be entitled to receive for each share of
Common Stock into which such Security is converted, the portion of
the evidence of indebtedness, shares of Capital Stock or assets so
distributed applicable to one share of Common Stock; provided, however, that, at the election
of the Company (whose election shall be evidenced by a Board
Resolution filed with the Trustee) with respect to all Holders so
converting, the Company may, in lieu of distributing to such Holder
any portion of such distribution not consisting of cash or
securities of the Company, pay such Holder an amount in cash equal
to the fair market value thereof (as determined in good faith by
the Board of Directors, whose determination shall be conclusive and
described in a Board Resolution filed with the Trustee). If any
conversion of a Security entitled to the benefits described in the
immediately preceding sentence occurs prior to the payment date for
a distribution to holders of Common Stock which the Holder of the
Security so converted is entitled to receive in accordance with the
immediately preceding sentence, the Company may elect (such
election to be evidenced by a Board Resolution filed with the
Trustee) to distribute to such Holder a due bill for the evidences
of indebtedness, shares of Capital Stock or assets to

 

83

 

 

 

 

 

which
such Holder is so entitled, provided that such due bill
(i) meets any applicable requirements of the principal
over-the-counter market or national securities exchange or other
market on which the Common Stock is then traded, and
(ii) requires payment or delivery of such evidences of
indebtedness or assets no later than the date of payment or
delivery thereof to holders of Common Stock receiving such
distribution.

 

SECTION
1702. Exercise of
Conversion Privilege. In order to exercise the conversion
privilege, the Holder of any Security to be converted shall
surrender such Security, duly endorsed or assigned to the Company
or in blank, at any office or agency maintained by the Company
pursuant to Section 1002, accompanied by written notice to the
Company at such office or agency that the Holder elects to convert
such Security or, if less than the entire principal amount thereof
is to be converted, the portion thereof to be converted and shall
comply with any additional requirements set forth in such Security.
Securities surrendered for conversion during the period from the
close of business on any Regular Record Date next preceding any
Interest Payment Date to the opening of business on such Interest
Payment Date shall (except for Securities the Maturity of which is
prior to such Interest Payment Date) be accompanied by payment in
funds acceptable to the Company of an amount equal to the interest
payable on such Interest Payment Date on the principal amount of
Securities being surrendered for conversion and such interest shall
be paid on such Interest Payment Date as provided in
Section 307. Except as provided in the preceding sentence, no
payment or adjustment shall be made upon any conversion on account
of any interest accrued on the Securities surrendered for
conversion or on account of any dividends on the Common Stock
issued upon conversion.

 

The
Company's delivery to the Holder of the fixed number of shares of
the Common Stock of the Company (and any cash in lieu of any
fractional share of Common Stock) into which the Security is
convertible shall be deemed to satisfy the Company's obligation to
pay the principal amount of the Security and all accrued interest
and original issue discount that has not previously been paid. The
shares of Common Stock of the Company so delivered shall be treated
as issued first in payment of accrued interest and original issue
discount and then in payment of principal. Thus, accrued interest
and original issue discount shall be treated as paid, rather than
canceled, extinguished or forfeited.

 

Securities shall be
deemed to have been converted immediately prior to the close of
business on the day of surrender of such Securities for conversion
in accordance with the foregoing provisions, and at such time the
rights of the Holders of such Securities as Holders shall cease,
and the Person or Persons entitled to receive the Common Stock
issuable upon conversion shall be treated for all purposes as the
record holder or holders of such Common Stock at such time. As
promptly as practicable on or after the conversion date, the
Company shall issue and shall deliver at such office or agency a
certificate or certificates for the number of full shares of Common
Stock issuable upon conversion, together with payment in lieu of
any fraction of a share, as provided in
Section 1703.

 

In the
case of any Security which is converted in part only, as promptly
as practicable on or after the conversion date the Company shall
execute and the Trustee shall authenticate and make available for
delivery to the Holder thereof (or the Depositary in the case of a
Global Security), at the expense of the Company, a new Security or
Securities, of authorized denominations in aggregate principal
amount equal to the unconverted portion of the principal amount of
such Security.

 

84

 

 

 

 

 

SECTION
1703. Fractions of
Shares. No fractional shares of Common Stock shall be issued
upon conversion of Securities. If more than one Security shall be
surrendered for conversion at one time by the same Holder, the
number of full shares of Common Stock which shall be issuable upon
conversion thereof shall be computed on the basis of the aggregate
principal amount of the Securities (or specified portions thereof)
so surrendered. Instead of any fractional share of Common Stock
which would otherwise be issuable upon conversion of any Security
or Securities (or specified portions thereof), the Company shall
pay a cash adjustment (rounded to the nearest cent) in respect of
such fraction in an amount equal to the same fraction of the
Closing Price per share of the Common Stock on the day of
conversion (or, if such day is not a Trading Day, on the Trading
Day immediately preceding such day).

 

SECTION
1704. Adjustment of
Conversion Price. The Conversion Price shall be subject to
adjustment from time to time as follows:

 

(1) If
the Company pays or makes a dividend or other distribution
(a) on its Common Stock exclusively in Common Stock or
(b) on any other class of Capital Stock of the Company, which
dividend or distribution includes Common Stock of the Company, the
Conversion Price in effect at the opening of business on the day
following the date fixed for the determination of stockholders
entitled to receive such dividend or other distribution (the
"Dividend Record Date") shall be reduced by multiplying such
Conversion Price by a fraction of which the numerator shall be the
number of shares of Common Stock of the Company outstanding at the
close of business on the Dividend Record Date and the denominator
shall be the sum of such number of shares and the total number of
shares constituting such dividend or other distribution. Such
reduction shall become effective immediately after the opening of
business on the day following the date fixed for such
determination. For the purposes of this paragraph (1), the number
of shares of Common Stock of the Company at any time outstanding
shall not include shares held in the treasury of the Company, but
shall include shares issuable in respect of scrip certificates
issued in lieu of fractions of shares of Common Stock. The Company
shall not pay any dividend or make any distribution on shares of
Common Stock held in the treasury of the Company.

 

(2)
Subject to paragraph (6) of this Section, if the Company pays
or makes a dividend or other distribution on its Common Stock
consisting exclusively of Short Term Rights (as defined below), or
otherwise issues Short Term Rights to all holders of its Common
Stock, the Conversion Price in effect at the opening of business on
the day following the record date for the determination of holders
of Common Stock entitled to receive such Short Term Rights (the
"Rights Record Date") shall be reduced by multiplying such
Conversion Price by a fraction of which the numerator shall be the
number of shares of Common Stock of the Company outstanding at the
close of business on the Rights Record Date plus the number of
shares of Common Stock of the Company which the aggregate of the
offering price of the total number of shares of Common Stock so
offered for subscription or purchase would purchase at such current
market price and the denominator shall be the number of shares of
Common Stock of the Company

 

85

 

 

 

 

 

outstanding at the
close of business on the Rights Record Date plus the number of
shares of Common Stock so offered for subscription or purchase.
Such reduction shall become effective immediately after the opening
of business on the day following the Rights Record Date. For the
purposes of this paragraph (2), the number of shares of Common
Stock of the Company at any time outstanding shall not include
shares held in the treasury of the Company, but shall include
shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock of the Company. The Company
shall not issue any rights, options or warrants in respect of
shares of its Common Stock held in the treasury of the Company.
When used in this Section 1704, the term "Short Term Rights"
shall mean rights, warrants or options entitling the holders
thereof (for a period commencing no earlier than the Rights Record
Date and expiring not more than 45 days after the Rights Record
Date) to subscribe for or purchase shares of Common Stock of the
Company at a price per share less than the current market price per
share (determined as provided in paragraph (7) of this
Section 1704) of the Common Stock of the Company on the Rights
Record Date.

 

(3) In
case outstanding shares of Common Stock of the Company shall be
subdivided into a greater number of shares of Common Stock, the
Conversion Price in effect at the opening of business on the day
following the day upon which such subdivision becomes effective
shall be proportionately reduced, and, conversely, in case
outstanding shares of Common Stock of the Company shall be combined
into a smaller number of shares of Common Stock, the Conversion
Price in effect at the opening of business on the day following the
day upon which such combination becomes effective shall be
proportionately increased, such reduction or increase, as the case
may be, to become effective immediately after the opening of
business on the day following the day upon which such subdivision
or combination becomes effective.

 

(4)
Subject to the last sentence of this paragraph (4) of this
Section, if the Company, by dividend or otherwise,
(a) distributes to all holders of its Common Stock evidences
of its indebtedness, shares of any class of Capital Stock of the
Company or other assets (other than cash dividends out of current
or retained earnings), or (b) distributes to substantially all
holders of Common Stock rights or warrants to subscribe for
securities (other than Short Term Rights to which
paragraph (2) of this Section 1704 applies), the
Conversion Price shall be reduced by multiplying such Conversion
Price by a fraction of which the numerator shall be the current
market price per share (determined as provided in paragraph
(7) of this Section 1704) of the Common Stock of the
Company on the Reference Date (as defined below) less the fair
market value (as determined in good faith by the Board of
Directors, whose determination shall be conclusive and described in
a Board Resolution filed with the Trustee), on the Reference Date,
of the portion of the evidences of indebtedness and other assets so
distributed or of such subscription rights or warrants applicable
to one share of Common Stock (collectively, the "Market Value of
the Distribution") and the denominator shall be such current market
price per share of the Common Stock of the Company. Such reduction
shall become effective immediately prior to the opening of business
on the day (the "Reference Date") following the later of
(a) the date fixed for the payment of such distribution and
(b) the date 20 days after notice relating to such
distribution is required to be given pursuant to
Section 1706(a). If the Board of Directors determines the fair
market value of any distribution for purposes of this paragraph
(4) by reference to the

 

86

 

 

 

 

 

actual
or when issued trading market for any securities comprising such
distribution, it must in doing so consider the prices in such
market over the same period used in computing the current market
price per share pursuant to paragraph (7) of this
Section 1704. In the event that, with respect to any
distribution to which this paragraph (4) of Section 1704
would otherwise apply, the Market Value of the Distribution is
greater than the current market price per share of the Common Stock
(such distribution being referred to herein as an "Unadjusted
Distribution"), then the adjustment provided by this paragraph
(4) shall not be made and in lieu thereof the provisions of
Section 1711 shall apply with respect to such Unadjusted
Distribution.

 

(5) The
Company may, but shall not be required to, make such reductions in
the Conversion Price, in addition to those required by paragraphs
(1), (2), (3), and (4) of this Section 1704, as it
considers to be advisable in order that any event treated for
federal income tax purposes as a dividend of stock or stock rights
shall not be taxable to the recipients. In addition, the Company,
from time to time, may decrease the Conversion Price by any amount
and for any reason, temporarily or otherwise, including situations
where the Board of Directors determines such decrease to be fair
and appropriate with respect to transactions in which holders of
Common Stock have the right to participate.

 

(6)
Rights or warrants issued or distributed by the Company to all
holders of its Common Stock entitling the holders thereof to
subscribe for or purchase shares of Common Stock or Preferred
Stock, which rights or warrants (i) are deemed to be
transferred with such shares of Common Stock, (ii) are not
exercisable and (iii) are also issued or distributed in
respect of future issuances of Common Stock, in each case in
clauses (i) through (iii) until the occurrence of a
specified event or events ("Trigger Events"), shall for purposes of
this Section 1704 not be deemed issued or distributed until
the occurrence of the earliest Trigger Event. Each share of Common
Stock issued upon conversion of Securities pursuant to this Article
Seventeen shall be entitled to receive the appropriate number of
Common Stock purchase rights (the "Rights"), if any, and the
certificates representing the Common Stock issued upon conversion
shall bear such legends, if any. Notwithstanding anything to the
contrary in this Article Seventeen, there shall not be any
adjustment to the Conversion Price as a result of (i) the
distribution of separate certificates representing the Rights;
(ii) the occurrence of certain events entitling holders of
Rights to receive, upon exercise thereof, Common Stock or other
securities of the Company or other securities of another
corporation; or (iii) the exercise of such Rights. No
adjustment in the Conversion Price need be made for rights to
purchase or the sale of Common Stock pursuant to a Company plan
providing for reinvestment of dividends or interest.

 

(7) For
the purpose of any computation under paragraph (2), (4) or
(5) of this Section 1704, the "current market price" per
share of Common Stock of the Company on any date shall be deemed to
be the average of the daily Closing Prices for the 15 consecutive
Trading Days selected by the Company commencing not more than 30
Trading Days before, and ending not later than, the date in
question.

 

(8) No
adjustment in the Conversion Price shall be required unless such
adjustment would require an increase or decrease of at least 1% in
the Conversion Price; provided, however, that any adjustments
which by reason of this paragraph (8) are not

 

87

 

 

 

 

 

required to be made
shall be carried forward and taken into account in any subsequent
adjustment. All calculations under this Article Seventeen shall be
made to the nearest cent or to the nearest one-hundredth of a share
of Common Stock, as the case may be.

 

(9)
Anything herein to the contrary notwithstanding, in the event the
Company shall declare any dividend or distribution requiring an
adjustment in the Conversion Price hereunder and shall, thereafter
and before the payment of such dividend or distribution to
stockholders, legally abandon its plan to pay such dividend or
distribution, the Conversion Price then in effect hereunder, if
changed to reflect such dividend or distribution, shall upon the
legal abandonment of such plan be changed to the Conversion Price
which would have been in effect at the time of such abandonment
(after giving effect to all other adjustments not so legally
abandoned pursuant to the provisions of this Article Seventeen) had
such dividend or distribution never been declared.

 

(10)
Notwithstanding any other provision of this Section 1704, no
adjustment to the Conversion Price shall reduce the Conversion
Price below the then par value per share of the Common Stock of the
Company, and any such purported adjustment shall instead reduce the
Conversion Price to such par value. Notwithstanding the foregoing
sentence, the Company hereby covenants that it will from time to
time take all such action as may be required to assure that the par
value per share of the Common Stock is at all times equal to or
less than the Conversion Price.

 

(11) In
the event that this Article Seventeen requires adjustments to the
Conversion Price under more than one of paragraphs (1), (2),
(3) or (4) of this Section 1704, and the record or
effective dates for the transaction giving rise to such adjustments
shall occur on the same date, then such adjustments shall be made
by applying (to the extent they are applicable), first, the
provisions of paragraph (3) of this Section 1704, second,
the provisions of paragraph (1) of this Section 1704,
third, the provisions of paragraph (4) of this
Section 1704 and, fourth, the provisions of paragraph (2)
of this Section 1704. Anything herein to the contrary
notwithstanding, no single event shall require or result in
duplicative adjustments in the Conversion Price pursuant to this
Section 1704. After an adjustment to the Conversion Price
under this Article Seventeen, any subsequent event requiring
an adjustment under this Article Seventeen shall cause an
adjustment to the Conversion Price as so adjusted. If, after an
adjustment, a Holder of a Security upon conversion of such Security
receives shares of two or more classes of Capital Stock of the
Company, the Conversion Price shall thereafter be subject to
adjustment upon the occurrence of an action taken with respect to
any such class of Capital Stock as is contemplated by this Article
Seventeen with respect to the Common Stock in this Article
Seventeen.

 

SECTION
1705. Notice of
Adjustments of Conversion Price. Whenever the Conversion
Price is adjusted as herein provided:

 

(1) the
Company shall compute the adjusted Conversion Price in accordance
with Section 1704 or Section 1711 and shall prepare an
Officer's Certificate setting forth the adjusted Conversion Price
and showing in reasonable detail the facts upon which such
adjustment is based, and such certificate shall forthwith be filed
(with a copy to the Trustee) at each office or agency maintained
for the purpose of conversion of any Securities pursuant to
Section 1002; and

 

88

 

 

 

 

 

(2) a
notice stating that the Conversion Price has been adjusted and
setting forth the adjusted Conversion Price shall forthwith be
required, and as soon as practicable after it is required, such
notice shall be mailed by the Company to all Holders at their last
addresses as they shall appear in the Security
Register.

 

SECTION
1706. Notice of Certain
Corporate Action. In case:

 

(1) the
Company shall take any action that would require a Conversion Price
adjustment pursuant to Section 1704 or Section 1711;
or

 

(2)
there shall occur any reclassification of the Common Stock of the
Company (other than a subdivision or combination of its outstanding
shares of Common Stock), or any consolidation or merger to which
the Company is a party, or the sale, transfer or lease of all or
substantially all of the assets of the Company and for which
approval of any stockholders of the Company is required;
or

 

(3)
there shall occur the voluntary or involuntary dissolution,
liquidation or winding up of the Company, then the Company shall
cause to be filed at each office or agency maintained for the
purpose of conversion of Securities pursuant to Section 1002,
and shall cause to be mailed to all Holders at their last addresses
as they shall appear in the Security Register, at least 10 days
prior to the applicable record, effective or expiration date
hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of any dividend,
distribution or granting of rights, warrants or options, or, if a
record is not to be taken, the date as of which the holders of
Common Stock of record to be entitled to such dividend,
distribution, rights, options or warrants are to be determined, or
(y) the date on which such reclassification, consolidation,
merger, sale, transfer, dissolution, liquidation or winding up is
expected to become effective, and, if applicable, the date as of
which it is expected that holders of Common Stock of record shall
be entitled to exchange their shares of Common Stock for
securities, cash or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up.

 

SECTION
1707. Company to Reserve
Common Stock. The Company shall at all times reserve and
keep available, free from preemptive rights, out of its authorized
but unissued Common Stock, for the purpose of effecting the
conversion of Securities, a number of shares of Common Stock for
the conversion of all outstanding Securities of any series which is
convertible into Common Stock.

 

SECTION
1708. Taxes on
Conversion. The Company will pay any and all taxes that may
be payable in respect of the issue or delivery of shares of Common
Stock on conversion of Securities pursuant hereto. The Company
shall not, however, be required to pay any tax which may be payable
in respect of any transfer involved in the issue and delivery of
shares of Common Stock in a name other than that of the Holder of
the Security or Securities to be converted, and no such issue or
delivery shall be made unless and until the Person requesting such
issue has paid to the Company the amount of any such tax, or has
established to the satisfaction of the Company that such tax has
been paid.

 

SECTION
1709. Covenants as to Common Stock. The Company covenants that all
shares of Common Stock which may be issued upon conversion of
Securities will upon issue be

 

89

 

 

 

 

 

duly
and validly issued, fully paid and nonassessable, free of
preemptive or any similar rights, and, except as provided in
Section 1708, the Company will pay all taxes, liens and
charges with respect to the issue thereof.

 

The
Company will endeavor promptly to comply with all Federal and state
securities laws regulating the offer and delivery of shares of
Common Stock upon conversion of Securities, if any, and will list
or cause to have quoted such shares of Common Stock on each
national securities exchange or in the over-the-counter market or
such other market on which the Common Stock is then listed or
quoted.

 

SECTION
1710. Cancellation of
Converted Securities. All Securities delivered for
conversion shall be delivered to the Trustee to be cancelled by or
at the direction of the Trustee, which shall dispose of the same as
provided in Section 309.

 

SECTION
1711. Provisions in Case
of Consolidation, Merger or Sale of Assets; Special
Distributions. If any of the following shall occur, namely:
(i) any reclassification or change of outstanding shares of
Common Stock issuable upon conversion of Securities (other than a
change in par value, or from par value to no par value, or from no
par value to par value, or as a result of a subdivision or
combination), (ii) any consolidation or merger to which the
Company is a party other than a merger in which the Company is the
continuing corporation and which does not result in any
reclassification of, or change (other than a change in name, or par
value, or from par value to no par value, or from no par value to
par value or as a result of a subdivision or combination) in,
outstanding shares of Common Stock or (iii) any sale or
conveyance of all or substantially all of the property or business
of the Company as an entirety, then the Person formed by such
consolidation or resulting from such merger or which acquires such
properties or assets, as the case may be, shall as a condition
precedent to such transaction execute and deliver to the Trustee a
supplemental indenture providing that the Holder of each Security
then outstanding shall have the right thereafter, during the period
such Security shall be convertible as specified in
Section 1701, to convert such Security only into the kind and
amount of securities, cash and other property receivable, if any,
upon such consolidation, merger, sale, transfer or lease by a
holder of the number of shares of Common Stock of the Company into
which such Security might have been converted immediately prior to
such consolidation, merger, sale, transfer or lease; provided that
the kind and amount of securities, cash and other property so
receivable shall be determined on the basis of the following
assumptions. The holder of Common Stock referred to in the
foregoing sentence:

 

(1) is
not (a) a Person with which the Company consolidated,
(b) a Person into which the Company merged or which merged
into the Company, or (c) a Person to which such sale, transfer
or lease was made (any Person described in the foregoing clauses
(a), (b), or (c), hereinafter referred to as a "Constituent
Person"), or (d) an Affiliate of a Constituent Person;
and

 

(2)
failed to exercise his rights of election, if any, as to the kind
or amount of securities, cash and other property receivable upon
such consolidation, merger, sale, transfer or lease (provided that
if the kind or amount of securities, cash and other property
receivable upon such consolidation, merger, sale transfer or lease
is not the same for each share of Common Stock of the Company in
respect of which such rights of election shall

 

90

 

 

 

 

 

not
have been exercised, then for the purpose of this Section 1711
the kind and amount of securities, cash and other property
receivable upon such consolidation, merger, sale, transfer or lease
shall be deemed to be the kind and amount so receivable per share
by a plurality of such shares of Common Stock).

 

Such
supplemental indenture shall provide for adjustments which, for
events subsequent to the effective date of such supplemental
indenture, shall be as nearly equivalent as may be practicable to
the adjustments provided for in this Article Seventeen. If, in
the case of any such consolidation, merger, sale transfer or lease
the stock or other securities and property (including cash)
receivable thereupon by a holder of Common Stock includes shares of
stock or other securities and property of a corporation other than
the successor or purchasing corporation, as the case may be, in
such consolidation, merger, sale, transfer or lease then such
supplemental indenture shall also be executed by such other
corporation and shall contain such additional provisions to protect
the interests of the Holders of the Securities as the Board of
Directors of the Company shall reasonably consider necessary by
reason of the foregoing. The above provisions of this
Section 1711 shall similarly apply to successive
consolidations, mergers, sales, transfers or leases.

 

In the
event the Company shall execute a supplemental indenture pursuant
to this Section 1711, the Company shall promptly file with the
Trustee an Officers' Certificate briefly stating the reasons
therefor, the kind or amount of shares of stock or securities or
property (including cash) receivable by Holders of the Securities
upon the conversion of their Securities after any such
reclassification, change, consolidation, merger, sale, transfer or
lease and any adjustment to be made with respect
thereto.

 

If the
Company makes a distribution to all holders of its Common Stock
that constitutes an Unadjusted Distribution pursuant to the last
sentence of paragraph (4) of Section 1704, then, from and
after the record date for determining the holders of Common Stock
entitled to receive such distribution (the "Distribution Record
Date"), a Holder of a Security who converts such Security in
accordance with the provisions of this Indenture shall, upon
conversion, be entitled to receive, in addition to the shares of
Common Stock into which the Security is convertible, the kind and
amount of evidences of indebtedness, shares of Capital Stock, or
other assets or subscription rights or warrants, as the case may
be, comprising the distribution that such Holder would have
received if such Holder had converted the Security immediately
prior to the Distribution Record Date.

 

SECTION
1712. Trustee Adjustment
Disclaimer; Company Determination Final. The Trustee has no
duty to determine when an adjustment under this Article Seventeen
should be made, how it should be made or what it should be. The
Trustee has no duty to determine whether a supplemental indenture
under Section 1711 need be entered into or whether any
provisions of any supplemental indenture are correct. The Trustee
shall not be accountable for and makes no representation as to the
validity or value of any securities or assets issued upon
conversion of Securities. The Trustee shall not be responsible for
the Company's failure to comply with this Article Seventeen. Any
determination that the Company or the Board of Directors must make
pursuant to this Article Seventeen is conclusive, absent
manifest error.

 

91

 

 

 

 

 

SECTION
1713. When No Adjustment
Required. Except as expressly set forth in
Section 1704, no adjustment in the Conversion Price shall be
made because the Company issues, in exchange for cash, property or
services, shares of its Common Stock, or any securities convertible
into or exchangeable for shares of its Common Stock, or securities
(including warrants, rights and options) carrying the right to
subscribe for or purchase shares of its Common Stock or such
convertible or exchangeable securities.

 

(1)
Notwithstanding anything herein to the contrary, no adjustment in
the Conversion Price shall be made pursuant to Section 1704 in
respect of any dividend or distribution if the Holders may
participate therein (on a basis to be determined in good faith by
the Board of Directors) and receive the same consideration they
would have received if they had converted the Securities
immediately prior to the record date with respect to such dividend
or distribution.

 

SECTION
1714. Equivalent
Adjustments. In the event that, as a result of an adjustment
made pursuant to Section 1704 above, the holder of any
Security thereafter surrendered for conversion shall become
entitled to receive any shares of Capital Stock of the Company
other than shares of its Common Stock, thereafter the Conversion
Price of such other shares so receivable upon conversion of any
Securities shall be subject to adjustment from time to time in a
manner and on terms as nearly equivalent as practicable to the
provisions with respect to Common Stock contained in this
Article Seventeen.

 

92

 

 

 

 

 

SIGNATURES

 

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

 

	
 

	
 

	
 

	
 

	
 

	

SOLITARIO
ZINC CORP.

 

	
 

	
 

	
 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	

Name:

 

	
 

	
 

	
 

	
 

	

Title:

 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

,

 

	

as
Trustee

 

	
 

	
 

	
 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	

Name:

 

	
 

	
 

	
 

	
 

	

Title:

 

	
 

	
 

	
 

	
 

 

93

 

 

 

 

 

EXHIBIT
A

 

FORM OF
REDEEMABLE OR NON-REDEEMABLE SUBORDINATED SECURITY

 

[Face
of Security]

 

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

 

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

 

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

 

Unless and until this Security is exchanged in whole or in part for
Securities in certificated form, this Security may not be
transferred except as a whole by DTC to a nominee thereof or by a
nominee thereof to DTC or another nominee of DTC or by DTC or any
such nominee to a successor of DTC or a nominee of such
successor.]

 

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

 

SOLITARIO
ZINC CORP.

 

[Designation
of Series]

 

	
 

	
 

	
 

	

No.                    

	

  

	

$                    

 

CUSIP
No.                     

 

SOLITARIO
ZINC CORP., a Colorado corporation (herein referred to as the
"Company," which term includes any successor corporation under the
Indenture referred to on the reverse hereof), for value received,
hereby promises to pay to
            or
registered assigns the principal sum of
            Dollars
on
            (the
"Stated Maturity Date") [or insert date fixed for earlier
redemption (the "Redemption Date," and together with the
Stated Maturity Date with respect to principal repayable on such
date, the "Maturity Date.")]

 

[If
the Security is to bear interest prior to Maturity, insert
— and to pay interest thereon from
            or
from the most recent Interest Payment Date to which interest has
been paid or

 

A-1

 

 

 

 

 

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

 

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

 

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

 

Interest
payable on this Security on any Interest Payment Date and on the
[Stated] Maturity Date [or Redemption Date, as the case may be,]
will include interest accrued from and including the next preceding
Interest Payment Date in respect of which interest has been paid or
duly provided for (or from and including
            ,
if no interest has been paid on this Security) to but excluding
such Interest Payment Date or the [Stated] Maturity Date [or
Redemption Date, as the case may be.] If any Interest Payment Date
or the [Stated] Maturity Date or [Redemption Date] falls on a day
that is not a Business Day, as defined below, principal, premium or
Make-Whole

 

A-2

 

 

 

 

 

Amount,
if any, and/or interest payable with respect to such Interest
Payment Date or [Stated] Maturity Date [or Redemption Date, as the
case may be,] will be paid on the next succeeding Business Day with
the same force and effect as if it were paid on the date such
payment was due, and no interest shall accrue on the amount so
payable for the period from and after such Interest Payment Date or
[Stated] Maturity Date [or Redemption Date, as the case may be.]
"Business Day" means any day, other than a Saturday or Sunday, that
is neither a legal holiday nor a day on which banking institutions
in The City of New York are required or authorized by law,
regulation or executive order to close.

 

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

 

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

 

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

 

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

 

Dated:
                    

 

	
 

	
 

	
 

	

SOLITARIO
ZINC CORP.

 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	

Name:

 

	
 

	
 

	

Title:

 

 

	
 

	

Attest:

 

	
 

	
 

	

Secretary

 

 

A-3

 

 

 

 

 

[Reverse
of Security]

 

SOLITARIO
ZINC CORP.

 

This
Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued
in one or more series under an

 

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

 

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

 

[If
applicable, insert — The Securities may not be
redeemed prior to the Stated Maturity Date.]

 

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

 

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

 

	
Year

	
 
Redemption Price

 

	
 
Year

 

	
 
Redemption Price

 

	
 

	
     

	
     

	
     

 

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

 

A-4

 

 

 

 

 

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

 

	
Year

	
 
Redemption Price for
Redemption Through
Operation of the Sinking  Fund

 

	
 
Redemption Price for
Redemption Otherwise ThanThrough Operation of the Sinking
Fund

 

	
 

	
     

	
     

 

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

 

[If applicable, insert —
Notwithstanding the foregoing, the Company may not, prior to
            ,
redeem any Securities as contemplated by [Clause (2) of] the
preceding paragraph as a part of, or in anticipation of, any
refunding operation by the application, directly or indirectly, of
moneys borrowed having an interest cost to the Company (calculated
in accordance with generally accepted financial practice) of less
than
            %
per annum.]

 

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

 

Notice
of redemption will be given by mail to Holders of Securities, not
less than 30 nor more than 60 days prior to the Redemption Date,
all as provided in the Indenture.

 

A-5

 

 

 

 

 

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

 

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

 

The
Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the
Securities under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of not less than a majority
of the aggregate principal amount of all Securities issued under
the Indenture at the time Outstanding and affected thereby. The
Indenture also contains provisions permitting the Holders of not
less than a majority of the aggregate principal amount of the
Outstanding Securities, on behalf of the Holders of all such
Securities, to waive compliance by the Company with certain
provisions of the Indenture. Furthermore, provisions in the
Indenture permit the Holders of not less than a majority of the
aggregate principal amount, in certain instances, of the
Outstanding Securities of any series to waive, on behalf of all of
the Holders of Securities of such series, certain past defaults
under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this
Security and other Securities issued upon the registration of
transfer hereof or conversion or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made
upon this Security.

 

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

 

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

 

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

 

This
Security is subordinated to the prior payment in full in cash of
Senior Indebtedness to the extent set forth in Article Sixteen of
the Indenture.

 

A-6

 

 

 

 

 

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

 

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

 

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

 

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

 

The
Indenture and the Securities shall be governed by and construed in
accordance with the laws of the State of New York applicable to
agreements made and to be performed entirely in such
State.

 

A-7

 

 

 

 

 

EXHIBIT
B

 

FORMS
OF CERTIFICATION

 

EXHIBIT
B-1

 

FORM OF
CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO RECEIVE
BEARER

SECURITY
OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE
DATE

 

CERTIFICATE

 

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

 

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

 

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

 

We
undertake to advise you promptly by tested telex or by telecopy on
or prior to the date on which you intend to submit your
certification relating to the above-captioned Securities held by
you for our account in accordance with your operating procedures if
any applicable statement herein is not correct on such date, and in
the absence of any such notification it may be assumed that this
certification applies as of such date.

 

This
certificate excepts and does not relate to [U.S.$] of such interest
in the above-captioned Securities in respect of which we are not
able to certify and as to which we

 

B-1

 

 

 

 

 

understand
an exchange for an interest in a permanent Global Security or an
exchange for and delivery of definitive Securities (or, if
relevant, collection of any interest) cannot be made until we do so
certify.

 

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

 

Dated:
                    

 

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

 

	
 

	

[Name
of Person Making Certification]

 

	
 

	
 

	

(Authorized
Signature)

 

	

Name:

 

	

Title:

 

 

B-2

 

 

 

 

 

EXHIBIT
B-2

 

FORM OF
CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM S.A.
IN

CONNECTION
WITH THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL

SECURITY
OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE
DATE

 

CERTIFICATE

 

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

 

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

 

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

 

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

 

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

 

B-3

 

 

 

 

 

Dated:
                    

 

[To be
dated no earlier than the Exchange Date or the relevant Interest
Payment Date occurring prior to the Exchange Date, as
applicable]

 

[Morgan
Guaranty Trust Company of New York, Brussels Office, as Operator of
the Euroclear System Clearstream Banking Luxembourg]

 

	
 

	
 

	
 

	

By:

 

	
 

	
 

	
 

	
 

	

Name:

 

	
 

	
 

	

Title:

 

 

B-4Exhibit
4.1

 

THE
SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND SUCH STATE SECURITIES LAWS, OR AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

PROMISSORY
NOTE

 

	$3,500,000.00	Scottsdale,
    Arizona
	 	September
    23, 2020

 

FOR
VALUE RECEIVED, the undersigned, ENLIGHT GROUP II, a Delaware limited liability company whose principal address is 7681 East Gray
Road, Scottsdale, Arizona (“EGII”), and AMMO, INC., a Delaware corporation whose principal address is 7681
East Gray Road, Scottsdale, Arizona 85260 (“AMMO”) (EGII and AMMO are individually and together referred to
herein as “Borrower”, as the context shall permit or allow), hereby promises to pay to the order of Forest
Street, LLC, an Arizona limited liability company, whose principal address is 7681 E. Gray Road, Scottsdale, Arizona 85260 (“Lender”),
the principal sum of Three Million Five Hundred & 00/100 Dollars ($3,500,000.00), plus interest thereon as set forth below,
on or prior to the Maturity Date (as defined in Section 1) to the account of Lender for operational deployment consistent with
the Use of Proceeds, in accordance with the terms and definitions set forth below.

 

1.       Definitions.
As used in this Promissory Note (“Note”), the following terms shall have the following meanings:

 

“Bankruptcy
Default” means any Event of Default described in Sections 7.1(d), 7.1(e) or 7.1(f).

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which banks in Scottsdale, Arizona are required to
close.

 

“Closing
Date” shall mean September 23, 2020.

 

“Default”
means any act, event, condition or omission which, with the giving of notice or lapse of time, would constitute an Event of Default
if uncured or unremedied.

 

“Dollars”
means the lawful currency of the United States.

 

“Event
of Default” means the occurrence of any of the events described in Section 6.1 of this Note.

 

    	 

     

    

 

“Governmental
Authority” means any foreign, federal, state, municipal or other government, or any department, commission, board, bureau,
agency, public authority or instrumentality thereof or any court or arbitrator.

 

“Use
of Proceeds” means expenditure of loan proceeds as capital expenditures by Borrower to acquire machinery, equipment
and other assets necessary to enhance production capacity and meet current and forecasted order fulfillment needs.

 

“Loan”
means the extension of credit made by Lender to Borrower evidenced by this Note.

 

“Maturity
Date” means September 23, 2022, or such earlier date on which the obligations under this Note become due and payable
pursuant to the terms hereof.

 

“Payment
Date” means the 23rd day of each month of each fiscal year of Borrower; provided that if the 23rd day of a month is
not a Business Day, the payment due on such date shall be due on the immediately preceding Business Day.

 

“Person”
means any natural person, corporation, limited liability company, joint venture, limited liability partnership, partnership, association,
trust or other entity or any Governmental Authority.

 

“Related
Documents” means this Note, any General Business Security Agreement thereafter executed, all as amended, restated, replaced,
supplemented or otherwise modified from time to time.

 

2.       Interest
Rate; Default Rate; Late Fee.

 

2.1       Interest
Rate. The interest rate to be applied to the unpaid principal balance of the Loan will be a per annum rate equal to 12.0 percent
per annum. Interest on this Note is computed on an Actual 360 basis; that is, by applying the ratio of the interest rate over
a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance
is outstanding. All interest payable under this Note is computed using this method.

 

2.2       Default
Rate. Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default, the unpaid principal
balance of the Loan and any accrued and unpaid interest shall bear interest at an annual rate (the “Default Rate”)
equal to the rate otherwise in effect under Section 2.1 plus 3.0 percentage points, payable upon demand. On and after the Maturity
Date, the unpaid principal balance of the Loan and all accrued interest thereon shall bear interest at the Default Rate, payable
upon demand.

 

2.3       Late
Fee. If a payment is not made on or before the 15th day after its due date, Borrower will be charged 5.00% of the
unpaid portion of the regularly scheduled payment.

 

    	Page 2 of 8

     

    

 

2.4       Maximum
Rate of Interest. Nothing herein contained shall be deemed to require Borrower to pay or be liable for the payment of interest
upon the Loan in excess of the maximum legal rate of interest (if there be any maximum) allowable under the laws of the State
of Arizona. If for any reason interest in excess of the amount as limited in the foregoing sentence shall have been paid hereunder,
whether by reason of acceleration of this Note, payment of any penalty or premium, or otherwise, then and in that event, any such
excess interest shall constitute and be treated as a payment of principal hereunder and shall operate to reduce the principal
balance of the Loan by the amount of such excess, or if in excess of the then outstanding principal balance of the Loan, such
excess shall be refunded.

 

3.       Payments.

 

3.1       Interest
Only. Borrower shall pay Lender all accrued interest (only) on a monthly basis, commencing on October 23, 2020 and each thirty
(30) days thereafter (“Payment Date”), provided, that any remaining outstanding principal balance of the Loan, together
with all unpaid accrued interest thereon, shall be repaid in full on the Maturity Date.

 

3.2       Application
of Payments. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest;
then to principal then to any unpaid collection costs; and then to any late charges. Borrower will pay Lender at Lender’s
address shown above or at such other place as Lender may designate in writing.

 

3.3       Early
Payment. Borrower may pay all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed
to by Lender in writing, relieve the Borrower of its obligation to continue to make payments on this Note. Rather, early payments
will reduce the principal balance due and may result in Borrower making fewer payments. Borrower agrees not to send Lender payments
marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Lender
may accept it without communications concerning disputed amounts, including any check or other payment instrument that indicates
that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations
or as full satisfaction of a disputed amount must be mailed or delivered to: Forest Street, LLC, 7681 E. Gray Road, Scottsdale,
Arizona 85260.

 

4.       Prepayment.
Borrower may prepay the Loan together with any accrued and unpaid interest thereon at any time in whole or in part without premium
or penalty.

 

5.       Quarterly
Monitoring Fee. One percent (1%) of the principal amount and then accrued interest paid quarterly during the Term of this
Agreement.

 

6.       Representations
and Warranties. To induce Lender to make the Loan, Borrower represents and warrants to Lender that:

 

6.1       Organization;
Subsidiaries; Corporate Power. Borrower is a corporation or limited liability company, as applicable, duly organized and validly
existing under the laws of the State of Delaware.

 

    	Page 3 of 8

     

    

 

6.2       Authorization
and Binding Effect. The execution and delivery by Borrower of the Related Documents, and the performance by Borrower of its
obligations thereunder: (a) are within its power as a limited liability company and/or corporation, as applicable, (b) have been
duly authorized by proper action on the part of the governing body of Borrower, (c) are not in violation of any Requirement of
Law, the organizational or charter documents of Borrower or the terms of any agreement, restriction or undertaking to which Borrower
is a party or by which Borrower is bound, and (d) do not require the approval or consent of the holders of the equity interests
of Borrower, any Governmental Authority or any other Person, other than those obtained and in full force and effect. The Related
Documents, when executed and delivered, will constitute the valid and binding obligations of Borrower enforceable in accordance
with their terms, except as limited by bankruptcy, insolvency or similar laws of general application affecting the enforcement
of creditors’ rights and except to the extent that general principles of equity might affect the specific enforcement of
such Related Documents.

 

6.3       Accuracy
of Information. All information, certificates or statements given to Lender pursuant to this Note shall be true and complete
when given.

 

7.       Events
of Default, Acceleration and Remedies.

 

7.1       Events
of Default. The occurrence of any of the following shall constitute an Event of Default under this Note:

 

(a)       Borrower
fails to pay all or any portion of any amount due hereunder when the same becomes due and payable, whether at a stated payment
date or by acceleration, and such failure continues for ten days following Borrower’s receipt of Lender’s written
notice of such failure; or

 

(b)       any
representation or warranty made herein is false in any material respect on the date as of which it is made or as of which the
same is to be effective; or

 

(c)       Borrower
fails to comply with any term, covenant or agreement contained herein subject to any applicable grace period or cure period; or

 

(d)       Borrower
becomes insolvent or fails generally to pay debts as they become due; or

 

(e)       the
taking of action by Borrower to become the subject of proceedings under the United States Bankruptcy Code; or the execution by
Borrower of a petition to become a debtor under the United States Bankruptcy Code; or the entry of an order for relief under the
United States Bankruptcy Code against Borrower; or Borrower making an assignment for the benefit of creditors; or Borrower consenting
to the appointment of a custodian, receiver, trustee or other officer with similar powers for it, or for any substantial part
of its property; or adjudicating of Borrower as insolvent; or

 

    	Page 4 of 8

     

    

 

(f)       if
any Governmental Authority of competent jurisdiction shall enter an order appointing, without consent of Borrower, as applicable,
a custodian, receiver, trustee or other officer with similar powers with respect to Borrower, or with respect to any substantial
part of Borrower’s property, or if an order for relief relating to Borrower shall be entered in any case or proceeding for
liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of Borrower, or if any petition for any such relief shall be filed against Borrower
and such petition shall not be dismissed or stayed within 60 days; or

 

(g)       Any
breach, violation, or default shall occur under any of the other Related Documents and shall continue beyond any applicable notice
and cure period set forth therein.

 

7.2       Acceleration.
Upon the occurrence of:

 

(a)       any
Bankruptcy Default, the unpaid principal balance of the Loan and all accrued and unpaid interest thereon at that time outstanding
automatically shall mature and become due, and

 

(b)       any
other Event of Default, Lender, at any time, at its option, and without notice or demand, may declare the outstanding principal
amount of the Loan and all accrued and unpaid interest thereon, due and payable, whereupon such amounts immediately shall mature
and become due and payable, all without presentment, protest or notice, all of which hereby are waived.

 

7.3       Remedies.
Upon the occurrence of any Event of Default, Lender, at its option, may enforce or cause to be enforced any of the rights or remedies
accorded to Lender at equity or law, by virtue of this Note, the other Related Documents, by statute or otherwise.

 

8.       Miscellaneous.

 

8.1       Waivers.
Borrower expressly hereby waives presentment for payment, protest and demand and notice of protest, demand, dishonor, nonpayment,
intent to accelerate and acceleration of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended
from time to time before, at or after maturity, without in any way affecting the liability of Borrower.

 

8.2       Modifications.
This Note may only be amended by an instrument in writing signed by the party against whom enforcement of the change or amendment
is sought.

 

8.3       Successors
and Assigns. This Note shall be binding upon Borrower and upon Borrower’s successors and assigns, and shall inure to
the benefit of Lender and its successors and assigns; provided that Borrower’s rights under this Note are not assignable
without the prior written consent of Lender.

 

    	Page 5 of 8

     

    

 

8.4       Severability.
In the event that any provision of this Note is deemed to be invalid by reason of the operation of any law or by reason of the
interpretation placed thereon by any Governmental Authority, the validity, legality and enforceability of the remaining terms
and provisions of this Note shall not in any way be affected or impaired thereby, all of which shall remain in full force and
effect, and the affected term or provision shall be modified to the minimum extent permitted by law so as to achieve most fully
the intention of this Note.

 

8.5       Time
of the Essence. Time for the performance of the obligations under this Note is of the essence.

 

8.6       Expenses.
Borrower agrees to pay on demand (i) all out-of-pocket expenses incurred by Lender in connection with the administration, amendment
or enforcement of this Note and the other Related Documents including the reasonable fees and expenses of Lender’s counsel,
(ii) any taxes (including any interest and penalties relating thereto) payable by Lender on or with respect to the transactions
contemplated by this Note (Borrower hereby agreeing to indemnify Lender with respect thereto) and (iii) all out-of-pocket expenses,
including the reasonable fees and expenses of Lender’s counsel, incurred by Lender in connection with any litigation, proceeding
or dispute in any way related to Lender’s relationship with Borrower, whether arising hereunder or otherwise. The obligations
of Borrower under this paragraph will survive payment of this Note.

 

8.7       Governing
Law. This Note shall be construed in accordance with and governed by the laws and decisions of the State of Arizona.

 

8.8       Setoff.
No security is provided for this Note upon execution. However, Borrower represents, warrants and agrees that it shall provide
commercially reasonable collateral promptly upon the payment of that certain JSC Promissory Note A and JSC’s contemporaneous
release of security supporting that financial accommodation. In addition, Borrower agrees that Lender may, at any time after the
occurrence of an Event of Default, without prior notice, set off against any such credit balance or other money all or any part
of this Note, irrespective of whether Lender shall have made demand under this Note and although such obligations may be contingent
or unmatured.

 

8.9       Notices.
All notices provided for herein shall be in writing and shall be (a) personally delivered or (b) sent by express or first class
mail; and, if to Lender, addressed to it at 7681 E. Gray Road, Scottsdale, Arizona 85260, attention: Fred Wagenhals, Manager and,
if to Borrower, addressed to it at 7681 East Gray Road, Scottsdale, Arizona 85260, attention: Rob Wiley (CFO) and John Flynn,
or to such other address with respect to any party as such party shall notify the others in writing; such notices shall be deemed
given when delivered, mailed or so transmitted.

 

    	Page 6 of 8

     

    

 

8.10       Joint
and Several. If Borrower is comprised of more than one Person, the obligations of such Persons under this Note and the other
Related Documents shall be joint and several.

 

8.11       Jury
Waiver. BORROWER AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE
ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN BORROWER
AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE, ANY OTHER RELATED DOCUMENT OR ANY RELATIONSHIP BETWEEN LENDER AND
BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED HEREIN.

 

8.12       Submission
to Jurisdiction; Service of Process. ALL JUDICIAL PROCEEDINGS IN ANY MANNER RELATING TO OR ARISING OUT OF THIS NOTE OR ANY
OBLIGATIONS HEREUNDER MAY BE BROUGHT ONLY IN COURTS OF THE STATE OF WISCONSIN LOCATED IN MARICOPA COUNTY OR THE FEDERAL COURT
FOR THE DISTRICT OF ARIZONA (PHOENIX). BY EXECUTING AND DELIVERING THIS NOTE, BORROWER IRREVOCABLY:

 

(a)       ACCEPTS
GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS;

 

(b)       WAIVES
ANY DEFENSE OF FORUM NON CONVENIENS;

 

(c)       AGREES
THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT
REQUESTED, TO BORROWER AT ITS ADDRESS SET FORTH IN THE INTRODUCTORY PARAGRAPH OF THIS NOTE;

 

(d)       AGREES
THAT SERVICE AS PROVIDED IN CLAUSE (c) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER BORROWER IN ANY SUCH PROCEEDING
IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND

 

(e)       AGREES
THAT LENDER RETAINS THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST BORROWER IN
THE COURTS OF ANY OTHER JURISDICTION.

 

    	Page 7 of 8

     

    

 

IN
WITNESS WHEREOF, this Note has been executed and delivered by Borrower as of the date first set forth above.

 

	 	BORROWER:
	 	 	 
	 	ENLIGHT
    GROUP II, LLC
	 	 	 
	 	BY	/s/
    Robert Wiley
	 	Name:	Robert
    Wiley
	 	Title:	AMMO,
    Inc. Chief Financial Officer
	 	 	 
	 	AMMO,
    INC.
	 	 	 
	 	BY	/s/
    Robert Wiley
	 	Name:	Robert
    Wiley
	 	Title:	Chief
    Financial Officer

 

    	Page 8 of 8

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