Document:

exv4w3

Exhibit 4.3

FORM OF INDENTURE TO BE ENTERED INTO

BETWEEN THE COMPANY AND A TRUSTEE TO BE NAMED

 

LAKES ENTERTAINMENT, INC.

and

                                        , as Trustee

INDENTURE

Dated as of                     , 20___

Providing for the Issuance of Debt Securities

 

i

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture	 	 
	Act Section	 	Indenture Section
	310(a)
	 	(1)	 	6.09
	(a)
	 	(2)	 	6.09
	(a)
	 	(3)	 	N.A.
	(a)
	 	(4)	 	N.A.
	(a)
	 	(5)	 	6.08
	(b)
	 	 	 	6.08
	(c)
	 	 	 	N.A.
	311(a)
	 	 	 	6.13
	(b)
	 	 	 	6.13
	(c)
	 	 	 	N.A.
	312(a)
	 	 	 	7.01
	(b)
	 	 	 	7.02
	(c)
	 	 	 	7.02
	313(a)
	 	 	 	7.03
	(b)
	 	(2)	 	7.03
	(c)
	 	 	 	7.03
	(d)
	 	 	 	7.03
	314(a)
	 	 	 	7.04; 1.02
	(c)
	 	(1)	 	1.02
	(c)
	 	(2)	 	1.02
	(c)
	 	(3)	 	N.A.
	(e)
	 	 	 	1.02
	(f)
	 	 	 	N.A.
	315(a)
	 	 	 	6.01
	(b)
	 	 	 	6.02; 1.06
	(c)
	 	 	 	6.01
	(d)
	 	 	 	6.01
	(e)
	 	 	 	5.14
	316(a)
	 	(last sentence)	 	1.01
	(a)
	 	(1)(A)	 	5.12
	(a)
	 	(1)(B)	 	5.02
	(a)
	 	(2)	 	N.A.
	(b)
	 	 	 	5.08
	(c)
	 	 	 	3.07
	317(a)
	 	(1)	 	5.03
	(a)
	 	(2)	 	5.04
	(b)
	 	 	 	4.06
	318(a)
	 	 	 	1.07
	(b)
	 	 	 	N.A.
	(c)
	 	 	 	1.07

 

			
	N.A. means not applicable.
	 
	*	 	This Cross Reference Table is not part of the Indenture.

ii

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 	1	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Officers’ Certificates and Opinions
	 	 	5	 
	Section 1.03 Form of Documents Delivered to Trustee
	 	 	6	 
	Section 1.04 Acts of Securityholders
	 	 	6	 
	Section 1.05 Notices, etc., to Trustee and Company
	 	 	7	 
	Section 1.06 Notice To Securityholders; Waiver
	 	 	7	 
	Section 1.07 Conflict with Trust Indenture Act
	 	 	8	 
	Section 1.08 Effect of Headings and Table of Contents
	 	 	8	 
	Section 1.09 Successors and Assigns
	 	 	8	 
	Section 1.10 Separability Clause
	 	 	8	 
	Section 1.11 Benefits Of Indenture
	 	 	8	 
	Section 1.12 Governing Law
	 	 	8	 
	Section 1.13 Counterparts
	 	 	8	 
	Section 1.14 [Reserved]
	 	 	8	 
	Section 1.15 Legal Holidays
	 	 	8	 
	 
	 	 	 	 
	ARTICLE II SECURITY FORMS
	 	 	8	 
	Section 2.01 Forms Generally
	 	 	8	 
	Section 2.02 Forms of Securities
	 	 	8	 
	Section 2.03 Securities in Global Form
	 	 	9	 
	Section 2.04 Form of Trustee’s Certificate of Authentication
	 	 	9	 
	 
	 	 	 	 
	ARTICLE III THE SECURITIES
	 	 	9	 
	Section 3.01 General Title; General Limitations; Issuable in Series; Terms of Particular Series
	 	 	9	 
	Section 3.02 Denominations and Currency
	 	 	12	 
	Section 3.03 Execution, Authentication and Delivery, and Dating
	 	 	12	 
	Section 3.04 Temporary Securities
	 	 	14	 
	Section 3.05 Registration, Transfer and Exchange
	 	 	14	 
	Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities
	 	 	16	 
	Section 3.07 Payment of Interest; Interest Rights Preserved
	 	 	16	 
	Section 3.08 Persons Deemed Owners
	 	 	17	 
	Section 3.09 Cancellation
	 	 	17	 
	Section 3.10 Computation of Interest
	 	 	17	 
	 
	 	 	 	 
	ARTICLE IV SATISFACTION AND DISCHARGE
	 	 	18	 
	Section 4.01 Satisfaction and Discharge of Indenture
	 	 	18	 
	Section 4.02 Discharge and Defeasance
	 	 	19	 
	Section 4.03 Covenant Defeasance
	 	 	19	 
	Section 4.04 Conditions To Defeasance Or Covenant Defeasance
	 	 	19	 
	Section 4.05 Application of Trust Money; Excess Funds
	 	 	21	 
	Section 4.06 Paying Agent to Repay Moneys Held
	 	 	21	 
	Section 4.07 Return of Unclaimed Amounts
	 	 	21	 
	 
	 	 	 	 
	ARTICLE V REMEDIES
	 	 	21	 
	Section 5.01 Events of Default
	 	 	21	 
	Section 5.02 Acceleration of Maturity; Rescission, and Annulment
	 	 	22	 
	Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	23	 
	Section 5.04 Trustee May File Proofs of Claim
	 	 	24	 

iii

 

	 	 	 	 	 
	 	 	PAGE	 
	Section 5.05 Trustee May Enforce Claims Without Possession of Securities
	 	 	24	 
	Section 5.06 Application of Money Collected
	 	 	24	 
	Section 5.07 Limitation on Suits
	 	 	25	 
	Section 5.08 Unconditional Right of Securityholders to Receive Principal, Premium, and Interest
	 	 	25	 
	Section 5.09 Restoration of Rights and Remedies
	 	 	25	 
	Section 5.10 Rights and Remedies Cumulative
	 	 	25	 
	Section 5.11 Delay or Omission Not Waiver
	 	 	26	 
	Section 5.12 Control by Securityholders
	 	 	26	 
	Section 5.13 Waiver of Past Defaults
	 	 	26	 
	Section 5.14 Undertaking for Costs
	 	 	26	 
	Section 5.15 Waiver of Stay or Extension Laws
	 	 	26	 
	 
	 	 	 	 
	ARTICLE VI THE TRUSTEE
	 	 	27	 
	Section 6.01 Certain Duties and Responsibilities of Trustee
	 	 	27	 
	Section 6.02 Notice of Defaults
	 	 	27	 
	Section 6.03 Certain Rights of Trustee
	 	 	27	 
	Section 6.04 Not Responsible for Recitals or Issuance of Securities
	 	 	28	 
	Section 6.05 May Hold Securities
	 	 	28	 
	Section 6.06 Money Held in Trust
	 	 	28	 
	Section 6.07 Compensation and Reimbursement
	 	 	28	 
	Section 6.08 Disqualification; Conflicting Interests
	 	 	29	 
	Section 6.09 Corporate Trustee Required; Eligibility
	 	 	29	 
	Section 6.10 Resignation and Removal; Appointment of Successor
	 	 	29	 
	Section 6.11 Acceptance of Appointment by Successor
	 	 	30	 
	Section 6.12 Merger, Conversion, Consolidation or Succession to Business
	 	 	31	 
	Section 6.13 Preferential Collection of Claims Against Company
	 	 	31	 
	Section 6.14 Appointment of Authenticating Agent
	 	 	31	 
	 
	 	 	 	 
	ARTICLE VII SECURITYHOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	32	 
	Section 7.01 Company to Furnish Trustee Names and Addresses of Securityholders
	 	 	32	 
	Section 7.02 Preservation of Information; Communications to Securityholders
	 	 	33	 
	Section 7.03 Reports by Trustee
	 	 	33	 
	Section 7.04 Reports by Company
	 	 	33	 
	 
	 	 	 	 
	ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER 	34	 
	Section 8.01 Company May Consolidate, etc., Only on Certain Terms
	 	 	34	 
	Section 8.02 Successor Corporation Substituted
	 	 	34	 
	 
	 	 	 	 
	ARTICLE IX SUPPLEMENTAL INDENTURES 	35	 
	Section 9.01 Supplemental Indentures Without Consent of Securityholders
	 	 	35	 
	Section 9.02 Supplemental Indentures With Consent of Securityholders
	 	 	35	 
	Section 9.03 Execution of Supplemental Indentures
	 	 	36	 
	Section 9.04 Effect of Supplemental Indentures
	 	 	37	 
	Section 9.05 Conformity With Trust Indenture Act
	 	 	37	 
	Section 9.06 Reference in Securities to Supplemental Indentures
	 	 	37	 
	 
	 	 	 	 
	ARTICLE X COVENANTS
	 	 	37	 
	Section 10.01 Payment of Principal, Premium and Interest
	 	 	37	 
	Section 10.02 Maintenance of Office or Agency
	 	 	37	 
	Section 10.03 Money or Security Payments to Be Held in Trust
	 	 	37	 
	Section 10.04 Certificate to Trustee
	 	 	38	 
	Section 10.05 Corporate Existence
	 	 	38	 

iv

 

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE XI REDEMPTION OF SECURITIES
	 	 	38	 
	Section 11.01 Applicability of Article
	 	 	38	 
	Section 11.02 Election to Redeem; Notice to Trustee
	 	 	38	 
	Section 11.03 Selection by Trustee of Securities to be Redeemed
	 	 	38	 
	Section 11.04 Notice of Redemption
	 	 	39	 
	Section 11.05 Deposit of Redemption Price
	 	 	39	 
	Section 11.06 Securities Payable on Redemption Date
	 	 	39	 
	Section 11.07 Securities Redeemed in Part
	 	 	40	 
	Section 11.08 Provisions with Respect to any Sinking Funds
	 	 	40	 
	 
	 	 	 	 
	ARTICLE XII REPAYMENT AT OPTION OF HOLDERS
	 	 	41	 
	Section 12.01 Applicability of Article
	 	 	41	 
	Section 12.02 Repayment of Securities
	 	 	41	 
	Section 12.03 Exercise of Option
	 	 	41	 
	Section 12.04 When Securities Presented for Repayment Become Due and Payable
	 	 	41	 
	Section 12.05 Securities Repaid in Part
	 	 	41	 

v

 

INDENTURE

     THIS INDENTURE, between Lakes Entertainment, Inc., a Minnesota corporation (hereinafter called
the “Company”) having its principal office at 130 Cheshire Lane, Suite 101, Minnetonka, Minnesota
55305, and,                                         , a                     , as trustee (hereinafter called the
“Trustee”), is made and entered into as of this
___ day of
                    ,
20     .

Recitals of the Company

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its unsecured debentures, notes, bonds, and other evidences of indebtedness, to be
issued in one or more fully registered series.

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

Agreements of the Parties

     To set forth or to provide for the establishment of the terms and conditions upon which the
Securities (as hereinafter defined) are and are to be authenticated, issued, and delivered, and in
consideration of the premises thereof, and the purchase of Securities by the Holders (as
hereinafter defined) thereof, it is mutually covenanted and agreed as follows, for the equal and
proportionate benefit of all Holders from time to time of the Securities or of any series thereof,
as the case may be:

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Section 1.01 Definitions. For all purposes of this Indenture and of any indenture
supplemental hereto, except as otherwise expressly provided or unless the context otherwise
requires:

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

     (b) all other terms used herein which are defined in the Trust Indenture Act (as
hereinafter defined), either directly or by reference therein, have the meanings assigned
to them therein;

     (c) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles and, except as otherwise
herein expressly provided, the term “generally accepted accounting principles” with respect
to any computation required or permitted hereunder shall mean such accounting principles as
are generally accepted in the United States of America at the date of such computation; and

     (d) all references in this instrument to designated “Articles”, “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this
instrument as originally executed. 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.

     (e) the following terms will have the meanings set forth below:

     “Act”, when used with respect to any Securityholder (as hereinafter defined), has the meaning
specified in Section 1.04.

     “Affiliate” of any specified Person (as hereinafter defined) 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 to authenticate Securities
of one or more series under Section 6.14.

     “Authentication Order” has the meaning specified in Section 3.03.

     “Board of Directors” means the board of directors of the Company, or any executive or any
committee of that board of directors duly authorized to act in respect thereof.

     “Board Resolution” means a copy of a resolution certified by the secretary or an assistant
secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day” when used with respect to any Place of Payment, means any day which is not a
Saturday or Sunday and which is not a legal holiday or a day on which banking institutions or trust
companies in that Place of Payment are authorized or obligated by law 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 or exchangeable for corporate stock),
warrants or options to purchase any thereof.

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

     “Company” means the party named as such in this Indenture, unless and 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”, “Company Order”, and “Company Consent” mean, respectively, a written
request, order, or consent signed in the name of the Company by the chairman of the Board of
Directors, the chief executive officer, the president, the chief financial officer, the treasurer,
the controller, or by any other officer or officers of the Company pursuant to an applicable Board
Resolution, and delivered to the Trustee.

     “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                                         .

     “Covenant Defeasance” has the meaning specified in Section 4.03.

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

     “Defeasance” has the meaning specified in Section 4.02.

     “Depositary” means with respect to the Securities of any series issuable or issued in whole or
in part in global form, the Person designated as Depositary by the Company pursuant to Section
3.01, unless and until a successor Depositary shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter “Depositary” shall mean or include each Person who is
then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as
used with respect to the Securities of any such series shall mean the “Depositary” with respect to
the Securities of that series.

2

 

     “Equivalent Government Securities” means, in relation to Securities denominated in a currency
other than U.S. dollars, securities of the government that issued the currency in which such
Securities are denominated or securities of government agencies backed by the full faith and credit
of such government.

     “Event of Default” has the meaning specified in ARTICLE V.

     “Holder”, “Securityholder” and “Holder of Securities” means a Person in whose name a Security
is registered in the Security Register (as hereinafter defined).

     “Indenture” or “this Indenture” means this instrument as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental hereto entered into
pursuant to the applicable provisions hereof and shall include the terms of any particular series
of Securities established as contemplated by Section 3.01.

     “Interest Payment Date”, when used with respect to any series of Securities, means any date on
which an installment of interest on those Securities is scheduled to be paid.

     “Maturity”, when used with respect to any Security, means the date on which the principal
amount outstanding under such Security or an installment of principal amount outstanding under such
Security becomes due and payable, as therein or herein provided, whether on the Scheduled Maturity
Date (as hereinafter defined), by declaration of acceleration, call for redemption, or otherwise.

     “Officers’ Certificate” means a certificate signed by the chairman of the Board of Directors,
the chief executive officer, the president, the chief financial officer, any vice president, the
treasurer or by any other officer or officers of the Company pursuant to an applicable Board
Resolution, and delivered to the Trustee.

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

     “Original Issue Discount Security” means any Security which is initially sold at a discount
from the principal amount thereof and the terms of which provide that upon redemption or
acceleration of the Maturity thereof, an amount less than the principal amount thereof would become
due and payable.

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

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

     (ii) such Securities, or portions thereof, for whose payment or redemption money in
the necessary amount has been theretofore deposited in trust with the Trustee or with any
Paying Agent (as hereinafter defined) other than the Company, or, if the Company shall act
as its own Paying Agent, has been set aside and segregated in trust by the Company;
provided, in any case, that if such Securities are to be redeemed prior to their Scheduled
Maturity Date, notice of such redemption has been duly given pursuant to this Indenture or
provision therefor satisfactory to the Trustee has been made; and

     (iii) such Securities in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, or which shall have been paid, in
each case, pursuant to the terms of Section 3.06 (except with respect to any such Security
as to which proof satisfactory to the Trustee is presented that such Security is held by a
Person in whose hands such Security is a legal, valid, and binding obligation of the
Company).

     In determining whether the Holders of the requisite principal amount of such Securities
Outstanding have given any request, demand, authorization, direction, notice, consent or waiver
hereunder, the principal amount of
any Original Issue Discount Security that shall be deemed to be Outstanding shall be the
amount of the principal

3

 

thereof that would be due and payable as of the date of such determination
upon a declaration of acceleration of the Maturity thereof. In determining whether the Holders of
the requisite principal amount of such Securities Outstanding have given a direction concerning the
time, method, and place of conducting any proceeding for any remedy available to the Trustee, or
concerning the exercise of any trust or power conferred upon the Trustee under this Indenture, or
concerning a consent on behalf of the Holders of any series of Securities to the waiver of any past
default and its consequences, Securities owned by the Company, any other obligor upon the
Securities, or any Affiliate of the Company or such other obligor shall be disregarded and deemed
not to be Outstanding. In determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent, or waiver, only Securities which a
Responsible Officer assigned to the corporate trust department of the Trustee knows to be owned by
the Company or any other obligor upon the Securities or any Affiliate of the Company or such other
obligor shall be so disregarded. Securities so owned 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 to act as owner 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 such other obligor.

     “Paying Agent” means, with respect to any Securities, any Person appointed by the Company to
distribute amounts payable by the Company on such Securities. If at any time there shall be more
than one such Person, “Paying Agent” as used with respect to the Securities of any particular
series shall mean the Paying Agent with respect to Securities of that series.

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

     “Place of Payment” means with respect to any series of Securities issued hereunder the city or
political subdivision so designated with respect to the series of Securities in question in
accordance with the provisions of Section 3.01.

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

     “Record Date” means any date as of which the Holder of a Security will be determined for any
purpose described herein, such determination to be made as of the close of business on such date by
reference to the Security Register.

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

     “Repayment Date”, when used with respect to any Security to be repaid, means the date fixed
for such repayment pursuant to such Security.

     “Repayment Price”, when used with respect to any Security to be repaid, means the price at
which it is to be repaid pursuant to such Security.

     “Responsible Officer”, when used with respect to the Trustee, shall mean an officer or
assistant officer of the Trustee in the Corporate Trust Office, having direct responsibility for
the administration of this Indenture, and also, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of such officer’s knowledge of
and familiarity with the particular subject.

     “Scheduled Maturity Date”, when used with respect to any Security, means the date specified in
such Security as the date on which all outstanding principal and interest will be due and payable.

4

 

     “Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or
any other evidences of indebtedness, as the case may be, of any series authenticated and delivered
from time to time under this Indenture.

     “Security Register” shall have the meaning specified in Section 3.05.

     “Security Registrar” means the Person who maintains the Security Register, which Person shall
be the Trustee unless and until a successor Security Registrar is appointed by the Company.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.07.

     “Specified Currency” has the meaning specified in Section 3.01.

     “Subsidiary” means any Person of which at the time of determination the Company owns or
controls directly or indirectly more than 50% of the outstanding shares of Voting Stock or
equivalent interest.

     “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as in force as of the
date hereof, except as provided in Section 9.05.

     “Trustee” means the party named as such above until a successor becomes such pursuant to this
Indenture and thereafter means or includes each party who is then a trustee hereunder, and if at
any time there is more than one such party, “Trustee” as used with respect to the Securities of any
series means the Trustee with respect to Securities of that series. If Trustees with respect to
different series of Securities are trustees under this Indenture, nothing herein shall constitute
the Trustees co-trustees of the same trust, and each Trustee shall be the trustee of a trust
separate and apart from any trust administered by any other Trustee with respect to a different
series of Securities.

     “U.S. Government Obligations” means (i) securities that are direct obligations of the United
States of America, the payment of which is unconditionally guaranteed by the full faith and credit
of the United States of America and (ii) securities that are obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States of America, the
payment of which is unconditionally guaranteed by the full faith and credit of the United States of
America, and also includes depository receipts issued by a bank or trust company as custodian with
respect to any of the securities described in the preceding clauses (i) and (ii), and any payment
of interest or principal payable under any of the securities described in the preceding clauses (i)
and (ii) that is 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, or from any amount received by
the custodian in respect of such securities, or from any specific payment of interest or principal
payable under the securities evidenced by such depository receipt.

     “Voting Stock”, as applied to the stock of any corporation, means stock of any class or
classes (however designated), the outstanding shares of which have, by the terms thereof, ordinary
voting power to elect a majority of the members of the board of directors (or other governing body)
of such corporation, other than stock having such power only by reason of the happening of a
contingency.

     Section 1.02 Officers’ Certificates and Opinions. Every Officers’ Certificate, Opinion of
Counsel, and other certificate or opinion to be delivered to the Trustee under this Indenture with
respect to any action to be taken by the Trustee (except for the Officers’ Certificate required by
Section 10.04) shall include the following:

     (a) a statement that each individual signing such certificate or opinion has read all
covenants and conditions of this Indenture relating to such proposed action, including the
definitions herein relating thereto;

     (b) 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;

5

 

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

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

     Section 1.03 Form of Documents Delivered to 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 the 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 a certificate or opinion of, or representations by, legal counsel, unless such
officer knows that any such certificate, opinion, or representation is erroneous. Any opinion of
counsel for the Company 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, unless such counsel
knows that any such certificate, opinion, or representation is 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, such
instruments may, but need not, be consolidated and form a single instrument.

     Section 1.04 Acts of Securityholders.

     (a) Any request, demand, authorization, direction, notice, consent, waiver, or other
action provided by this Indenture to be given or taken by Securityholders may be embodied
in and evidenced by one or more instruments of substantially similar tenor signed by such
Securityholders in person or by an agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and (if expressly required by the applicable terms
of this Indenture) to the Company. If any Securities are denominated in coin or currency
other than that of the United States, then for the purposes of determining whether the
Holders of the requisite principal amount of Securities have taken any action as herein
described, the principal amount of such Securities shall be deemed to be that amount of
United States dollars that could be obtained for such principal amount on the basis of the
spot rate of exchange into United States dollars for the currency in which such Securities
are denominated (as evidenced to the Trustee by a certificate provided by a financial
institution, selected by the Company, that maintains an active trade in the currency in
question, acting as conversion agent) as of the date the taking of such action by the
Holders of such requisite principal amount is evidenced to the Trustee as provided in the
immediately preceding sentence. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the
Securityholders signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any purpose of
this Indenture and (subject to Section 6.01) conclusive in favor of the Trustee and the
Company, if made in the manner provided in this Section.

     (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 to such execution or by the certificate of any
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 an officer of a corporation or a member of a
partnership, on behalf of such corporation or partnership, 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 manner which the Trustee deems sufficient.

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     (c) The ownership of Securities shall for all purposes be determined by reference to
the Security Register, as such register shall exist as of the applicable date.

     (d) If the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other action, the Company may, at its option, by
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
action, but the Company shall have no obligation to do so. If such Record Date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or other action 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 purpose of determining
whether Holders of the requisite proportion of Securities Outstanding have authorized or
agreed or consented to such request, demand, authorization, direction, notice, consent,
waiver or other action, and for that purpose the Securities Outstanding 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 six months after such Record
Date.

     (e) Any request, demand, authorization, direction, notice, consent, waiver or other
action by the Holder of any Security shall bind each subsequent Holder of such Security,
and each Holder of any Security issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof, with respect to anything done or suffered to be done
by the Trustee or the Company in reliance upon such action, whether or not notation of such
action is made upon such Security.

     Section 1.05 Notices, etc., to Trustee and Company. Any request, order, authorization,
direction, consent, waiver, or other action to be taken by the Trustee, the Company, or the
Securityholders hereunder (including any Authentication Order), and any notice to be given to the
Trustee or the Company with respect to any action taken or to be taken by the Trustee, the Company,
or the Securityholders hereunder, shall be sufficient if made in writing and

     (a) (if to be furnished or delivered to or filed with the Trustee by the Company or
any Securityholder) delivered to the Trustee at its Corporate Trust Office, or

     (b) (if to be furnished or delivered to the Company by the Trustee or any
Securityholder, and except as otherwise provided in Section 5.01(d) and, in the case of a
request for repayment, except as specified in the Security carrying the right to repayment)
mailed to the Company, first-class postage prepaid, at its principal office (as specified
in the first paragraph of this instrument), to the attention of its chief financial
officer, or at any other address hereafter furnished in writing by the Company to the
Trustee.

     Section 1.06 Notice To Securityholders; Waiver. Where this Indenture or any Security provides
for notice to Securityholders of any event, such notice shall be sufficiently given (unless
otherwise expressly provided herein or in such Security) if in writing and mailed, first-class
postage prepaid, to each Securityholder affected by such event, at his or her address as it appears
in the Security Register as of the applicable Record Date, not later than the latest date or
earlier than the earliest date prescribed by this Indenture or such Security for the giving of such
notice. In any case where notice to Securityholders is given by mail, neither the failure to mail
such notice nor any defect in any notice so mailed to any particular Securityholder shall affect
the sufficiency of such notice with respect to other Securityholders. Where this Indenture or any
Security 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 Securityholders 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.

     In case, by reason of the suspension of regular mail service as a result of a strike, work
stoppage or otherwise, it shall be impractical to mail notice of any event to any Securityholder
when such notice is required to be given pursuant to any provision of this Indenture or the
applicable Security, then any method of notification as shall be satisfactory to the Trustee and
the Company shall be deemed to be sufficient for the giving of such notice.

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     Section 1.07 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or
conflicts with another provision hereof which is required to be included in this Indenture by any
of the provisions of the TIA, such required provision shall control.

     Section 1.08 Effect of Headings and Table of Contents. The Article and Section headings
herein and the Table of Contents hereof are for convenience only and shall not affect the
construction of any provision of this Indenture.

     Section 1.09 Successors and Assigns. All covenants and agreements in this Indenture by the
Company shall bind its successors and assigns, whether so expressed or not.

     Section 1.10 Separability Clause. In case any provision in this Indenture or in the
Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

     Section 1.11 Benefits Of Indenture. Nothing in this Indenture or in any Securities, express
or implied, shall give to any Person, other than the parties hereto, their successors hereunder,
the Authenticating Agent, the Security Registrar, any Paying Agent, and the Holders of Securities
(or such of them as may be affected thereby), any benefit or any legal or equitable right, remedy
or claim under this Indenture.

     Section 1.12 Governing Law. This Indenture shall be governed by and construed in accordance
with the laws of the State of New York, without regard to the principles of conflict of laws.

     Section 1.13 Counterparts. This instrument may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original, but all of which shall together
constitute but one and the same instrument.

     Section 1.14 [Reserved].

     Section 1.15 Legal Holidays. In any case where any Interest Payment Date, Redemption Date,
Repayment Date or Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of the Securities) payment of
interest or principal (and premium, if any) need not be made at such Place of Payment on such date,
but 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 at Maturity,
provided, that no interest shall accrue for the period from and after such Interest Payment Date,
Redemption Date, Repayment Date or Maturity, as the case may be.

ARTICLE II

SECURITY FORMS

     Section 2.01 Forms Generally. The Securities of each series shall have such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this
Indenture and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon, as may be required to comply with the rules of any securities
exchange, or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. Any portion of the text of any
Security may be set forth on the reverse thereof, with an appropriate reference thereto on the face
of the Security.

     The definitive Securities, if any, shall be printed, lithographed or engraved or produced by
any combination of these methods on steel engraved borders or may be produced in any other manner
permitted by the rules of any securities exchange, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

     Section 2.02 Forms of Securities. Each Security shall be in one of the forms approved from
time to time by or pursuant to any Board Resolution, or established in one or more indentures
supplemental hereto. Prior to the delivery to the Trustee for authentication of any Security in
any form approved by or pursuant to a Board Resolution, the Company shall deliver to the Trustee a
copy of such Board Resolution, together with a true and

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correct copy of the form of Security which
has been approved thereby, or, if a Board Resolution authorizes a specific officer or officers to
approve a form of Security, together with a certificate of such officer or officers approving the
form of Security attached thereto, provided, however, that with respect to all Securities issued
pursuant to the same Board Resolution, the required copy of such Board Resolution, together with
the appropriate attachment, need be delivered only once. Any form of Security approved by or
pursuant to a Board Resolution must be acceptable as to form to the Trustee, such acceptance to be
evidenced by the Trustee’s authentication of Securities in that form or by a certificate signed by
a Responsible Officer of the Trustee and delivered to the Company.

     Section 2.03 Securities in Global Form. If Securities of a series are issuable in whole or in
part in global form, the global security representing such Securities may provide that it shall
represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and may
also provide that the aggregate amount of Outstanding Securities represented thereby may from time
to time be reduced to reflect exchanges or increased to reflect the issuance of additional
Securities. Any endorsement of a Security in global form to reflect the amount (or any increase or
decrease in the amount) of Outstanding Securities represented thereby shall be made in such manner
and by such Person or Persons as shall be specified therein or in the Authentication Order
delivered to the Trustee pursuant to Section 3.03 hereof.

     Section 2.04 Form of Trustee’s Certificate of Authentication. The form of Trustee’s
Certificate of Authentication for any Security issued pursuant to this Indenture shall be
substantially as follows:

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

	 	 	 	 	 
	 

	 	 	, as Trustee,
	 	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Authorized Officer:	 	 

ARTICLE III

THE SECURITIES

     Section 3.01 General Title; General Limitations; Issuable in Series; Terms of Particular
Series.

     (a) The aggregate principal amount of Securities that may be authenticated, delivered,
and Outstanding at any time under this Indenture is not limited.

     (b) The Securities may be issued in one or more series in such aggregate principal
amount as may from time to time be authorized by the Board of Directors. All Securities of
a series issued under this Indenture shall in all respects be equally and ratably entitled
to the benefits hereof, without preference, priority, or distinction on account of the
actual time of the authentication and delivery or Scheduled Maturity Date thereof.

     (c) Each series of Securities shall be created either by or pursuant to one or more
Board Resolutions, by an Officers’ Certificate or by one or more indentures supplemental
hereto. Any such Board Resolution or supplemental indenture (or, in the case of a series
of Securities created pursuant to a Board Resolution, any officer or officers authorized by
such Board Resolution) shall establish the terms of any such series of Securities,
including the following (as and to such extent as may be applicable):

     (1) the title of such series;

     (2) the limit, if any, upon the aggregate principal amount or issue price of
the Securities of such series;

     (3) the issue date or issue dates of the Securities of such series;

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     (4) the date or dates on which the principal and premium, if any, of the
Securities of such series are payable;

     (5) the place or places where the principal, premium, if any, interest, if
any, and additional amounts, if any, payable with respect to the Securities of
such series shall be payable;

     (6) whether the Securities of such series will be issued at par or at a
premium over or a discount from their face amount;

     (7) the rate or rates (which may be fixed or variable) at which the
Securities of such series shall bear interest, if any, and, if applicable, the
method by which such rate or rates may be determined;

     (8) the date or dates (or the method by which such date or dates may be
determined) from which interest, if any, shall accrue, and the Interest Payment
Dates on which such interest shall be payable;

     (9) the rights, if any, to defer payments of interest on the Securities by
extending the interest payment periods and the duration of such extension;

     (10) the period or periods within which, the Redemption Price(s) or Repayment
Price(s) at which, and any other terms and conditions upon which the Securities of
such series may be redeemed or repaid, in whole or in part, by the Company;

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

     (12) the issuance of the Securities of such series in whole or in part in
global form and, if so, the identity of the Depositary for such global security
and the terms and conditions, if any, upon which interests in the Securities
represented by such global security may be exchanged, in whole or in part, for the
individual Securities represented thereby (if other than as provided in Section
3.05);

     (13) whether such securities are subordinated securities and if so, the
provisions for such subordination;

     (14) the denominations in which the Securities of such series will be issued
(which may be any denomination as set forth in the terms of such Securities) if
other than U.S. $1,000 or an integral multiple thereof;

     (15) whether and under what circumstances additional amounts on the
Securities of such series shall be payable in respect of any taxes, assessments,
or other governmental charges withheld or deducted and, if so, whether the Company
will have the option to redeem such Securities rather than pay such additional
amounts;

     (16) the basis upon which interest shall be calculated;

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

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     (18) the exchange or conversion of the Securities of that series, whether or
not at the option of the Holders thereof, for or into new Securities of a
different series or for or into any other securities which may include shares of
Capital Stock of the Company or any Subsidiary of the Company or securities
directly or indirectly convertible into or exchangeable for any such shares or
securities of entities unaffiliated with the Company or any Subsidiary of the
Company;

     (19) if other than U.S. dollars, the foreign or composite currency or
currencies (each such currency a “Specified Currency”) in which the Securities of
such series shall be denominated and in which payments of principal, premium, if
any, interest, if any, or additional amounts, if any, payable with respect to such
Securities shall or may be payable;

     (20) if the principal, premium, if any, interest, if any, or additional
amounts, if any, payable with respect to the Securities of such series are to be
payable in any currency other than that in which the Securities are stated to be
payable, whether at the election of the Company or of a Holder thereof, the period
or periods within which, and the terms and conditions upon which, such election
may be made;

     (21) if the amount of any payment of principal, premium, if any, interest, if
any, or other sum payable with respect to the Securities of such series may be
determined by reference to the relative value of one or more Specified Currencies,
commodities, securities, or instruments, the level of one or more financial or
non-financial indices, or any other designated factors or formulas, the manner in
which such amounts shall be determined;

     (22) the exchange of Securities of such series, at the option of the Holders
thereof, for other Securities of the same series of the same aggregate principal
amount of a different authorized kind or different authorized denomination or
denominations, or both;

     (23) the appointment by the Trustee of an Authenticating Agent in one or more
places other than the Corporate Trust Office of the Trustee, with power to act on
behalf of the Trustee, and subject to its direction, in the authentication and
delivery of the Securities of such series;

     (24) any trustees, depositaries, paying agents, transfer agents, exchange
agents, conversion agents, registrars, or other agents with respect to the
Securities of such series if other than the Trustee, Paying Agent and Security
Registrar named herein;

     (25) the portion of the principal amount of Securities of such series, if
other than the principal amount thereof, that shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 5.02 or provable in
bankruptcy pursuant to Section 5.04;

     (26) any Event of Default with respect to the Securities of such series, if
not set forth herein, or any modification of any Event of Default set forth herein
with respect to such series;

     (27) any covenant solely for the benefit of the Securities of such series;

     (28) the inapplicability of Section 4.02 and Section 4.03 of this Indenture
to the Securities of such series and if Section 4.03 is applicable, the covenants
subject to Covenant Defeasance under Section 4.03; and

     (29) any other terms of the securities of such series (which terms shall not
be inconsistent with the provisions of this Indenture, but which may modify or
delete any provision of this Indenture insofar as it applies to such series).

     If all of the Securities issuable by or pursuant to any Board Resolution are not to be issued
at one time, it shall not be necessary to deliver the Officers’ Certificate and Opinion of Counsel
required by Section 3.03 hereof at the time of issuance of each such Security, but such Officers’
Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the
first such Security.

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     If any series of Securities shall be established by action taken pursuant to any Board
Resolution, the execution by the officer or officers authorized by such Board Resolution of an
Authentication Order (as defined in Section 3.03 below) with respect to the first Security of such
series to be issued, and the delivery of such Authentication Order to the Trustee at or before the
time of issuance of the first Security of such series, shall constitute a sufficient record of such
action. Except as otherwise permitted by Section 3.03, if all of the Securities of any such series
are not to be issued at one time, the Company shall deliver an Authentication Order with respect to
each subsequent issuance of Securities of such series, but such Authentication Orders may be
executed by any authorized officer or officers of the Company, whether or not such officer or
officers would have been authorized to establish such series pursuant to the aforementioned Board
Resolution.

     Unless otherwise provided by or pursuant to the Board Resolution or supplemental indenture
creating such series (i) a series may be reopened for issuances of additional Securities of such
series, and (ii) all Securities of the same series shall be substantially identical, except for the
initial Interest Payment Date, issue price, initial interest accrual date and the amount of the
first interest payment.

     The form of the Securities of each series shall be established in a supplemental indenture or
by or pursuant to the Board Resolution creating such series. The Securities of each series shall
be distinguished from the Securities of each other series in such manner as the Board of Directors
or its authorized representative or representatives may determine.

     Unless otherwise provided with respect to Securities of a particular series, the Securities of
any series may only be issuable in registered form, without coupons.

     Section 3.02 Denominations and Currency. The Securities of each series shall be issuable in
such denominations and currency as shall be provided in the provisions of this Indenture or by or
pursuant to the Board Resolution or supplemental indenture creating such series. In the absence of
any such provisions with respect to the Securities of any series, the Securities of that series
shall be issuable only in fully registered form in denominations of U.S. $1,000 and any integral
multiple thereof.

     Section 3.03 Execution, Authentication and Delivery, and Dating. The Securities shall be
executed on behalf of the Company by the president, any vice president, the treasurer or any
assistant treasurer and attested by the secretary or any one of its assistant secretaries, under
its corporate seal. The signature of any of these officers on the Securities may be manual or
facsimile. The seal of the Company, if set forth thereon, may be in the form of a facsimile
thereof and may be impressed, affixed, imprinted, or otherwise reproduced on the Securities.
Typographical and other minor errors or defects in any such reproduction of the seal or any such
signature shall not affect the validity or enforceability of any Security that has been duly
authenticated and delivered by the Trustee.

     Unless otherwise provided in the form of Security for any series, all Securities shall be
dated the date of their authentication.

     Securities 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.

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities to the Trustee for authentication, together with a Company Order for
authentication and delivery (such Company Order an “Authentication Order”) with respect to such
Securities, and the Trustee shall, upon receipt of such Authentication Order, in accordance with
procedures acceptable to the Trustee set forth in the Authentication Order, and subject to the
provisions hereof, authenticate and deliver such Securities to such recipients as may be specified
from time to time pursuant to such Authentication Order. The material terms of such Securities
shall be determinable by reference to such Authentication Order and procedures. If provided for in
such procedures, such Authentication Order may authorize authentication and delivery of such
Securities pursuant to oral

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instructions from the Company or its duly authorized agent, which
instructions shall be promptly confirmed in writing. 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 the provisions of Section 6.01 hereof) shall
be fully protected in relying upon:

     (1) an executed supplemental indenture, if any;

     (2) an Officers’ Certificate, certifying as to the authorized form or forms and terms
of such Securities; and

     (3) an Opinion of Counsel, stating that:

     (b) the form or forms and terms of such Securities have been established by and in conformity
with the provisions of this Indenture; provided, that if all such Securities are not to be issued
at the same time, such Opinion of Counsel may state that such terms will be established in
conformity with the provisions of this Indenture, subject to any conditions specified in such
Opinion of Counsel; and

     (c) such Securities, when authenticated and delivered by the Trustee and issued by the Company
in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute
valid and legally binding obligations of the Company, enforceable in accordance with their terms,
subject to bankruptcy, insolvency, moratorium, reorganization, and other laws of general
applicability relating to or affecting the enforcement of creditors’ rights and to general
principles of equity;

provided, however, that if all Securities issuable by or pursuant to a Board Resolution or
supplemental indenture are not to be originally issued at one time, it shall not be necessary to
deliver the Officers’ Certificate or Opinion of Counsel otherwise required pursuant to this
paragraph at or prior to the time of authentication of each such Security if such documents are
delivered at or prior to the time of authentication upon original issuance of the first such
Security to be issued. After the original issuance of the first such Security to be issued, any
separate request by the Company that the Trustee authenticate such Securities for original issuance
will be deemed to be a certification by the Company that it is in compliance with all conditions
precedent provided for in this Indenture relating to the authentication and delivery of such
Securities.

     The Trustee shall not be required to authenticate such Securities if the issue thereof will
adversely affect the Trustee’s own rights, duties, or immunities under the Securities and this
Indenture.

     If the Company shall establish pursuant to Section 3.01 that Securities of a series may be
issued in whole or in part in global form, then the Company shall execute, and the Trustee shall
(in accordance with this Section 3.03 and the Authentication Order with respect to such series)
authenticate and deliver, one or more Securities in global form that (i) shall represent and shall
be denominated in an aggregate amount equal to the aggregate principal amount of the Outstanding
Securities of such series to be represented by such one or more Securities in global form, (ii)
shall be registered, in the name of the Depositary for such Security or Securities in global form,
or in the name of a nominee of such Depositary, (iii) shall be delivered to such Depositary or
pursuant to such Depositary’s instruction, and (iv) shall bear a legend substantially as follows:
“Unless and until it is exchanged in whole or in part for Securities in certificated form, this
Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary,
or by a nominee of the Depositary to the Depositary or another nominee of the Depositary, or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor
Depositary.” Each Depositary designated pursuant to Section 3.01 for a Security in global form
must, at the time of
its designation and at all times while it serves as Depositary, be a clearing agency
registered under the Securities Exchange Act of 1934 and any other applicable statute or
regulation.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature of an authorized
officer, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder.

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     Section 3.04 Temporary Securities. Pending the preparation of definitive Securities of any
series, the Company may execute, and, upon receipt of the documents required by Section 2.02,
Section 3.01 and Section 3.03, together with an Authentication Order, the Trustee shall
authenticate and deliver, temporary Securities of such series that 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, without
coupons, and with such appropriate insertions, omissions, substitutions, and other variations as
the officers executing such Securities may determine, as evidenced by their execution of such
Securities. In the case of Securities of any series for which a temporary Security may be issued
in global form, such temporary global security shall represent all of the Outstanding Securities of
such series and tenor.

     Except in the case of temporary Securities in global form, which shall be exchanged in
accordance with the provisions thereof, if temporary Securities of any series are issued, the
Company will cause definitive Securities of such series to be prepared without unreasonable delay.
After the preparation of definitive Securities, the temporary Securities of such series shall be
exchangeable, at the Corporate Trust Office of the Trustee, or at such other office or agency as
may be maintained by the Company in a Place of Payment pursuant to Section 10.02 hereof, for
definitive Securities of such series having identical terms and provisions, upon surrender of the
temporary Securities of such series, at the Company’s own expense and without charge to the Holder;
and upon surrender for cancellation of any one or more temporary Securities of any series, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of definitive Securities of such series in authorized denominations containing
identical terms and provisions. Unless otherwise specified as contemplated by Section 3.01 with
respect to a temporary Security in global form, until so exchanged, the temporary Securities of
such series shall in all respects be entitled to the same benefits under this Indenture as
definitive Securities of such series.

     Section 3.05 Registration, Transfer and Exchange. With respect to the Securities of each
series, the Trustee shall keep a register (herein sometimes referred to as the “Security Register”)
which shall provide for the registration of Securities of such series, and for transfers of
Securities of such series, in accordance with information to be provided to the Trustee by the
Company, subject to such reasonable regulations as the Trustee may prescribe. Such register shall
be in written form or in any other form capable of being converted into written form within a
reasonable time. At all reasonable times the information contained in such register or registers
shall be available for inspection at the Corporate Trust Office of the Trustee or at such other
office or agency to be maintained by the Company pursuant to Section 10.02 hereof.

     Upon due presentation for registration of transfer of any Security of any series at the
Corporate Trust Office of the Trustee or at any other office or agency maintained by the Company
with respect to that series pursuant to Section 10.02 hereof, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees,
one or more new Securities of such series of any authorized denominations, of like aggregate
principal amount, tenor, terms and Scheduled Maturity Date.

     Any other provision of this Section 3.05 notwithstanding, unless and until it is exchanged in
whole or in part for the individual Securities represented thereby, in definitive form, a Security
in global form representing all or a portion of the Securities of a series may not be transferred
except as a whole by the Depositary for such series to a nominee of such Depositary, or by a
nominee of such Depositary to such Depositary or another nominee of such Depositary, or by such
Depositary or any such nominee to a successor Depositary for such series or a nominee of such
successor Depositary.

     At the option of the Holder, Securities of any series may be exchanged for other Securities of
such series of any authorized denominations, of like aggregate principal amount, tenor, terms and
Scheduled Maturity Date, upon surrender of the Securities to be exchanged at such office or agency.
Whenever any Securities are so surrendered for exchange, the Company shall execute, and the
Trustee shall authenticate and deliver, the Securities which the Securityholder making the exchange
is entitled to receive.

     If at any time the Depositary for the Securities of a series represented by one or more
Securities in global form notifies the Company that it is unwilling or unable to continue as
Depositary for the Securities of such series, or if at any time the Depositary for the Securities
of such series shall no longer be eligible under Section 3.03 hereof, the Company, by Company
Order, shall appoint a successor Depositary with respect to the Securities of such series. If a
successor Depositary for the Securities of such series is not appointed by the Company within 90
days after the

14

 

Company receives such notice or becomes aware of such ineligibility, the Company’s
election pursuant to Section 3.01 that such Securities be represented by one or more Securities in
global form shall no longer be effective with respect to the Securities of such series and the
Company will execute, and the Trustee, upon receipt of an Authentication Order for the
authentication and delivery of definitive Securities of such series, will authenticate and deliver
Securities of such series in definitive form, in authorized denominations, in an aggregate
principal amount, and of like terms and tenor, equal to the principal amount of the Security or
Securities in global form representing such series, in exchange for such Security or Securities in
global form.

     The Company may at any time and in its sole discretion and subject to the procedures of the
Depositary determine that individual Securities of any series issued in global form shall no longer
be represented by such Security or Securities in global form. In such event the Company will
execute, and the Trustee, upon receipt of an Authentication Order for the authentication and
delivery of definitive Securities of such series and of the same terms and tenor, will authenticate
and deliver Securities of such series in definitive form, in authorized denominations, and in
aggregate principal amount equal to the principal amount of the Security or Securities in global
form representing such series in exchange for such Security or Securities in global form.

     If specified by the Company pursuant to Section 3.01 with respect to a series of Securities
issued in global form, the Depositary for such series of Securities may surrender a Security in
global form for such series of Securities in exchange in whole or in part for Securities of such
series in definitive form and of like terms and tenor on such terms as are acceptable to the
Company and such Depositary. Thereupon, the Company shall execute, and the Trustee upon receipt of
an Authentication Order for the authentication and delivery of definitive Securities of such
series, shall authenticate and deliver, without service charge:

     (a) to each Person specified by such Depositary, a new definitive Security or Securities of
the same series and of the same tenor and terms, in authorized denominations, in aggregate
principal amount equal to and in exchange for such Person’s beneficial interest in the Security in
global form; and

     (b) to such Depositary, a new Security in global form in a denomination equal to the
difference, if any, between the principal amount of the surrendered Security in global form and the
aggregate principal amount of the definitive Securities delivered to Holders pursuant to clause (a)
above.

     Upon the exchange of a Security in global form for Securities in definitive form, such
Security in global form shall be canceled by the Trustee or an agent of the Company or the Trustee.
Securities issued in definitive form in exchange for a Security in global form pursuant to this
Section 3.05 shall be registered in such names and in such authorized denominations as the
Depositary for such Security in global form, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee or an agent of the Company or the Trustee in
writing. The Trustee or such agent shall deliver such Securities to or as directed by the Persons
in whose names such Securities are so registered or to the Depositary.

     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.

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

     Every Security presented or surrendered for registration of transfer, exchange, redemption or
payment shall (if so required by the Company or the Trustee) 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.

     Unless otherwise provided in the Security to be transferred or exchanged, no service charge
shall be imposed for any registration of transfer or exchange of Securities, but the Company may
(unless otherwise provided in such Security) require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection with any transfer or exchange of
Securities, other than exchanges pursuant to Section 3.04, Section 3.06, Section 9.06 and Section
11.07 hereof not involving any transfer.

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     The Company shall not be required to (i) issue, register the transfer of, or exchange any
Security of any series during a period beginning at the opening of business 15 days before the day
of the mailing of a notice of redemption of Securities of such series selected for redemption under
Section 11.03 and ending at the close of business on the date of such mailing, or (ii) register the
transfer of or exchange any Security so selected for redemption in whole or in part, except in the
case of any Security to be redeemed in part, the portion thereof not to be redeemed.

     Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities. If (i) any mutilated Security
is surrendered to the Trustee, or the Company and the Trustee receive evidence to their
satisfaction of the destruction, loss or theft of any Security, and (ii) there is delivered to the
Company and the Trustee such security or indemnity as may be required by them to save each of them
harmless, then, in the absence of notice to the Company or the Trustee that such Security has been
acquired by a bona fide purchaser, the Company may in its discretion execute and upon request of
the Company the Trustee shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Security, a new Security of like tenor, terms, series,
Scheduled Maturity Date, and principal amount, bearing a number not contemporaneously outstanding.

     In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

     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 issued pursuant to this Section in lieu of any destroyed, lost or stolen
Security shall constitute an original additional contractual obligation of the Company, whether or
not the destroyed, lost or stolen Security 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 the same series duly issued hereunder.

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

     Section 3.07 Payment of Interest; Interest Rights Preserved. Interest on any Security which
is payable and is punctually paid or duly provided for on any Interest Payment Date shall, if so
provided in such Security, 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 applicable Record Date,
notwithstanding any transfer or exchange of such Security subsequent to such Record Date and prior
to such Interest Payment Date (unless such Interest Payment Date is also the date of Maturity of
such Security).

     Any interest on any Security which 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 on the applicable Record Date by virtue of his having been such
Holder; and, except as hereinafter provided, such Defaulted Interest may be paid by the Company, at
its election in each case, as provided in clause (a) or clause (b) below:

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names any such Securities (or their respective Predecessor Securities) are registered
at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such
Security and the date of the proposed payment, and at the same time the Company shall
deposit with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the
Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date
for the payment of such Defaulted Interest which shall be not more than 15 nor less than 10
days prior to the date of the proposed payment and not less than 10 days after the receipt

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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 the Holder of each such
Security at his address as it appears in the Security Register, not less than 10 days prior
to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and
the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest
shall be paid to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on such Special Record Date
and shall no longer be payable pursuant to the following clause (b).

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

     Interest on Securities of any series that bear interest may be paid by mailing a check to the
address of the Person entitled thereto at such address as shall appear in the Securities Register
for such series or by such other means as may be specified in the form of such Security.

     Subject to the foregoing provisions of this Section 3.07 and the provisions of Section 3.05
hereof, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and
unpaid, and to accrue, which were carried by such other Security.

     Section 3.08 Persons Deemed Owners. Prior to due presentment of a 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 any Security is registered on the applicable Record Date(s) as the owner of
such Security for the purpose of receiving payment of principal, premium, if any, interest, if any
(subject to Section 3.05 and Section 3.07 hereof), and any additional amounts payable with respect
to such Security, and for all other purposes whatsoever, whether or not such 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.

     None of the Company, the Trustee, any Authenticating Agent, 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 Security in global form or for
maintaining, supervising or reviewing any records relating to such beneficial ownership interests
and each of them may act or refrain from acting without liability on any information relating to
such records provided by the Depositary.

     Section 3.09 Cancellation. All Securities surrendered for payment, redemption, registration
of transfer, exchange, or credit against a sinking or analogous fund shall, if surrendered to any
Person other than the Trustee, be delivered to the Trustee and, if not already canceled, shall be
promptly canceled 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 all Securities so delivered shall be promptly canceled by the Trustee.
Acquisition of such Securities by the Company shall not operate as a redemption or satisfaction of
the indebtedness represented by such Securities unless and until the same are delivered to the
Trustee for cancellation. No Security shall be authenticated in lieu of or in exchange for any
Securities canceled as provided in this Section, except as expressly permitted by this Indenture.
The Trustee shall dispose of all canceled Securities in accordance with its customary procedures
and deliver a certificate of such disposition to the Company.

     Section 3.10 Computation of Interest. Unless otherwise provided as contemplated in Section
3.01, interest on the Securities shall be calculated on the basis of a 360-day year of twelve
30-day months.

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ARTICLE IV

SATISFACTION AND DISCHARGE

     Section 4.01 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of
further effect with respect to any series of Securities (except as to any surviving rights of
conversion or transfer or exchange of Securities of such series expressly provided for herein or in
the form of Security for such series and obligations described as surviving below), and the
Trustee, on demand of and at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture as to such series, when

     (a) either

     (i) all Securities of that series theretofore authenticated and delivered
(other than (A) Securities of such series which have been destroyed, lost, or
stolen and which have been replaced or paid as provided in Section 3.06, and (B)
Securities of such series for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the
Company or discharged from such trust, as provided in Section 4.07) have been
delivered to the Trustee canceled or for cancellation; or

     (ii) all such Securities of that series not theretofore delivered to the
Trustee canceled or for cancellation

     (A) have become due and payable, or

     (B) will, in accordance with their Scheduled Maturity Date, become
due and payable within one year, or

     (C) 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, in any of the cases described in subparagraphs (A), (B), or(C) above, the
Company has irrevocably deposited or caused to be deposited with the Trustee, as
trust funds in trust for the purpose, (x) an amount in money sufficient, (y) U.S.
Government Obligations or Equivalent Government Securities which through the
payment of interest and principal in respect thereof in accordance with their terms
will provide, not later than one day before the due date of any payment, money
sufficient, or (z) a combination of (x) and (y) sufficient, in the opinion with
respect to (y) and (z) of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee,
to pay and discharge the entire indebtedness on such Securities with respect to
principal, premium, if any, and interest, if any, to the date of such deposit (in
the case of Securities which have become due and payable), or to the Scheduled
Maturity Date or Redemption Date, as the case may be; provided, however, that if
such U.S. Government Obligations or Equivalent Government Securities are callable
or redeemable at the option of the issuer thereof, the amount of such money, U.S.
Government Obligations, and Equivalent Government Securities deposited with the
Trustee must be sufficient to pay and
discharge the entire indebtedness referred to above if such issuer elects to
exercise such call or redemption provisions at any time prior to the Scheduled
Maturity Date or Redemption Date, as the case may be, and the Company, but not the
Trustee, shall be responsible for monitoring any such call or redemption provision;
and

     (b) the Company has paid or caused to be paid all other sums payable hereunder by the
Company with respect to the Securities of such series; and

     (c) 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 with respect to the Securities of such series
have been complied with.

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     Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company under paragraph (a) of this Section 4.01 and its
obligations to the Trustee with respect to that series under Section 6.07 shall survive, and the
obligations of the Trustee under Section 4.05, Section 4.07, and Section 10.03 shall survive.

     Section 4.02 Discharge and Defeasance. The provisions of this Section and Section 4.04
(insofar as relating to this Section) shall apply to the Securities of each series unless
specifically otherwise provided in an indenture supplemental hereto provided pursuant to Section
3.01. In addition to discharge of this Indenture pursuant to Section 4.01, in the case of any
series of Securities with respect to which the exact amount described in subparagraph (a) of
Section 4.04 can be determined at the time of making the deposit referred to in such subparagraph
(a), the Company shall be deemed to have paid and discharged the entire indebtedness on all the
Securities of such a series as provided in this Section on and after the date the conditions set
forth in Section 4.04 are satisfied, and the provisions of this Indenture with respect to the
Securities of such series shall no longer be in effect (except as to (i) rights of registration of
transfer and exchange of Securities of such series, (ii) substitution of mutilated, destroyed, lost
or stolen Securities of such series, (iii) rights of Holders of Securities of such series to
receive, solely from the trust fund described in subparagraph (a) of Section 4.04, payments of
principal thereof, premium, if any, and interest, if any, thereon upon the original stated due
dates or upon the Redemption Dates therefor (but not upon acceleration), and remaining rights of
the Holders of Securities of such series to receive mandatory sinking fund payments, if any, (iv)
the rights, obligations, duties and immunities of the Trustee hereunder, (v) this Section 4.02,
Section 4.07, Section 10.02 and Section 10.03 and (vi) the rights of the Holders of Securities of
such series as beneficiaries hereof with respect to the property so deposited with the Trustee
payable to all or any of them) (hereinafter called “Defeasance”), and the Trustee at the cost and
expense of the Company, shall execute proper instruments acknowledging the same.

     Section 4.03 Covenant Defeasance. The provisions of this Section and Section 4.04 (insofar as
relating to this Section) shall apply to the Securities of each series unless specifically
otherwise provided in an indenture supplemental hereto provided pursuant to Section 3.01. In the
case of any series of Securities with respect to which the exact amount described in subparagraph
(a) of Section 4.04 can be determined at the time of making the deposit referred to in such
subparagraph (a), the Company shall be released from its obligations under any covenants specified
in or pursuant to Section 3.01 as being subject to Covenant Defeasance with respect to such series
(except as to (i) rights of registration of transfer and exchange of Securities of such series and
rights under Section 4.07, Section 10.02 and Section 10.03, (ii) substitution of mutilated,
destroyed, lost or stolen Securities of such series, (iii) rights of Holders of Securities of such
series to receive, from the Company pursuant to Section 10.01, payments of principal thereof and
interest, if any, thereon upon the original stated due dates or upon the Redemption Dates therefor
(but not upon acceleration), and remaining rights of the Holders of Securities of such series to
receive mandatory sinking fund payments, if any, (iv) the rights, obligations, duties and
immunities of the Trustee hereunder and (v) the rights of the Holders of Securities of such series
as beneficiaries hereof with respect to the property so deposited with the Trustee payable to all
or any of them), and the occurrence of any event specified in Section 5.01(d) (with respect to any
of the covenants specified in or pursuant to Section 3.01 as being subject to Covenant Defeasance
with respect to such series) shall be deemed not to be or result in a default or an Event of
Default, in each case with respect to the Outstanding Securities of such series as provided in this
Section on and after the date the conditions set forth in Section 4.04 are satisfied (hereinafter
called “Covenant Defeasance”), and the Trustee at the cost and expense of the Company, shall
execute proper instruments acknowledging the same. For this purpose, such Covenant Defeasance
means that 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 covenant (to the extent so specified in the case of Section
5.01(d)), whether directly or indirectly by reason of any reference elsewhere herein to any such
covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document, but the remainder of this Indenture and the Securities of such series shall be
unaffected thereby.

     Section 4.04 Conditions To Defeasance Or Covenant Defeasance. The following shall be the
conditions to application of either Section 4.02 or Section 4.03 to the Outstanding Securities:

     (a) with reference to Section 4.02 or Section 4.03, the Company has irrevocably
deposited or caused to be irrevocably deposited with the Trustee as funds in trust,
specifically pledged as security for, and dedicated solely to, the benefit of the Holders
of Securities of such series (i) money in an amount, or (ii) U.S. Government Obligations or
Equivalent Government Securities which through the payment of

19

 

interest and principal in
respect thereof in accordance with their terms will provide, not later than one day before
the due date of any payment, money in an amount, or (iii) a combination of (i) and (ii),
sufficient, in the opinion (with respect to (ii) and (iii)) of a nationally recognized firm
of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge each installment of principal (including mandatory
sinking fund payments) of, premium, if any, and interest on, the Outstanding Securities of
such series on the dates such installments of interest, premium or principal are due,
including upon redemption; provided, however, that if such U.S. Government Obligations and
Equivalent Government Securities are callable or redeemable at the option of the issuer
thereof, the amount of such money, U.S. Government Obligations, and/or Equivalent
Government Securities deposited with the Trustee must be sufficient to pay and discharge
the entire indebtedness referred to above if the issuer of any such U.S. Government
Obligations or Equivalent Government Securities elects to exercise such call or redemption
provisions at any time prior to the Scheduled Maturity Date or Redemption Date of such
Securities, as the case may be. The Company, but not the Trustee, shall be responsible for
monitoring any such call or redemption provision.

     (b) in the case of Defeasance under Section 4.02, the Company has delivered to the
Trustee an Opinion of Counsel based on the fact that (x) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling or (y) since the date
hereof, there has been a change in the applicable United States federal income tax law, in
either case to the effect that, and such opinion shall confirm that, the Holders of the
Securities of such series will not recognize income, gain or loss for federal income tax
purposes as a result of such deposit, defeasance and discharge and will be subject to
federal income tax on the same amount and in the same manner and at the same times, as
would have been the case if such deposit, Defeasance and discharge had not occurred;

     (c) in the case of Covenant Defeasance under Section 4.03, the Company has delivered
to the Trustee an Opinion of Counsel to the effect that, and such opinion shall confirm
that, the Holders of the Securities of such series will not recognize income, gain or loss
for federal income tax purposes as a result of such deposit and Covenant Defeasance and
will be subject to federal income tax on the same amount and in the same manner and at the
same times, as would have been the case if such deposit and Covenant Defeasance had not
occurred;

     (d) no Event of Default or event which, with notice or lapse of time or both, would
become an Event of Default with respect to the Securities of such series shall have
occurred and be continuing on the date of such deposit, after giving effect to such deposit
or, in the case of a Defeasance under Section 4.02, no Event of Default specified in
Section 5.01(e) or Section 5.01(f) shall have occurred, at any time during the period
ending on the 91st day after the date of such deposit or, if longer, ending on the day
following the expiration of the longest preference period applicable to the Company in
respect of such deposit (it being understood that this condition shall not be deemed
satisfied until the expiration of such period);

     (e) such Defeasance or Covenant Defeasance will not cause the Trustee to have a
conflicting interest within the meaning of the TIA, assuming all Securities of a series
were in default within the meaning of the TIA;

     (f) such Defeasance or Covenant Defeasance will not result in a breach or violation
of, or constitute a default under, any agreement or instrument to which the Company is a
party or by which it is bound;

     (g) such Defeasance or Covenant Defeasance will not result in the trust arising from
such deposit constituting an investment company within the meaning of the Investment
Company Act of 1940, as amended, unless the trust is registered under such Act or exempt
from registration;

     (h) if the Securities of such series are to be redeemed prior to their Stated Maturity
Date (other than from mandatory sinking fund payments or analogous payments), notice of
such redemption shall have been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee shall have been made; and

20

 

     (i) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for herein relating
to such Defeasance or Covenant Defeasance, as the case may be, have been complied with.

     Section 4.05 Application of Trust Money; Excess Funds. All money and U.S. Government
Obligations or Equivalent Government Securities (including the proceeds thereof) deposited with the
Trustee pursuant to Section 4.01 or Section 4.04 hereof shall be held in trust and applied by it,
in accordance with the provisions of this Indenture and of the series of Securities in respect of
which it was deposited, 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, premium, if any, and interest, if any, for whose payment such money has
been deposited with the Trustee; but such money need not be segregated from other funds except to
the extent required by law.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or U.S. Government Obligations or Equivalent Government Securities
deposited pursuant to Section 4.01 or Section 4.04 hereof or the principal and interest received in
respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the Outstanding Securities.

     Anything in this Article IV to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money or U.S. Governmental Obligations or
Equivalent Government Securities held by it as provided in Section 4.01 or Section 4.04 which, in
the opinion of a nationally recognized investment bank, appraisal firm or firm of independent
public accountants, expressed in a written certification thereof delivered to the Trustee, (which
may be the opinion delivered under Section 4.01 or Section 4.04, as applicable), are in excess of
the amount thereof that would then be required to be deposited to effect an equivalent satisfaction
and discharge, Covenant Defeasance or Defeasance of the applicable series.

     Section 4.06 Paying Agent to Repay Moneys Held. Upon the satisfaction and discharge of this
Indenture, all moneys then held by any Paying Agent of the Securities (other than the Trustee)
shall, upon demand of the Company, be repaid to it or paid to the Trustee, and thereupon such
Paying Agent shall be released from all further liability with respect to such moneys.

     Section 4.07 Return of Unclaimed Amounts. Any amounts deposited with or paid to the Trustee
or any Paying Agent or then held by the Company, in trust for payment of the principal of, premium,
if any, or interest, if any, on the Securities and not applied but remaining unclaimed by the
Holders of such Securities for two years after the date upon which the principal of, premium, if
any, or interest, if any, on such Securities, as the case may be, shall have become due and
payable, shall be repaid to the Company by the Trustee on Company Request or (if then held by the
Company) shall be discharged from such trust; and the Holder of any of such Securities shall
thereafter look only to the Company for any payment
which such Holder may be entitled to collect (until such time as such unclaimed amounts shall
escheat, if at all, to the State of New York) 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. Notwithstanding the foregoing, the Trustee or Paying Agent, before being required
to make any such repayment, may at the expense of the Company cause to be published once a week for
two successive weeks (in each case on any day of the week) in a newspaper printed in the English
language and customarily published at least once a day at least five days in each calendar week and
of general circulation in the Borough of Manhattan, in the City and State of New York, a notice
that said amounts have not been so applied and that after a date named therein any unclaimed
balance of said amounts then remaining will be promptly returned to the Company.

ARTICLE V

REMEDIES

     Section 5.01 Events of Default. “Event of Default”, wherever used herein, means with respect
to any series of Securities any one of the following events (whatever the reason for such Event of
Default and whether 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), unless such event is either inapplicable to a particular
series or it is specifically deleted or modified in the manner contemplated by Section 3.01:

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

     (b) default in the payment of the principal amount of (or premium, if any, on) any
Security of such series as and when the same shall become due, at Maturity; or

     (c) default in the payment of any sinking or purchase fund or analogous obligation
when the same becomes due by the terms of the Securities of such series and continuance of
such default for a period of 30 days; or

     (d) default in the performance or breach of any covenant or warranty of the Company in
this Indenture in respect of the Securities of such series (other than a covenant or
warranty in respect of the Securities of such series a default in the performance of which
or the breach of which is elsewhere in this Section specifically dealt with), and
continuance of such default or breach for a period of 60 days after there has been given,
by registered or certified mail, to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least 25% in the principal amount of the Outstanding
Securities of such 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

     (e) the entry of an order for relief against the Company under the Federal Bankruptcy
Act by a court having jurisdiction in the premises or a decree or order by a court having
jurisdiction in the premises adjudging the Company a bankrupt or insolvent under any other
applicable Federal or State law, or the entry of a decree or order approving as properly
filed a petition seeking reorganization, arrangement, adjustment or composition of or in
respect of the Company under the Federal Bankruptcy Code or any other applicable Federal or
State law, or appointing a receiver, liquidator, assignee, trustee, sequestrator (or other
similar official) of the Company or of any substantial part of its property, or ordering
the winding up or liquidation of its affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 90 consecutive days; or

     (f) the consent by the Company to the institution of bankruptcy or insolvency
proceedings against it, or the filing by it of a petition or answer or consent seeking
reorganization or relief under the Federal Bankruptcy Code or any other applicable Federal
or State law, or the consent by it to the filing of any such petition or to the appointment
of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of
the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability
to pay its debts
generally as they become due, or the taking of corporate action by the Company in
furtherance of any such action; or

     (g) any other Event of Default provided for with respect to the Securities of such
series in accordance with Section 3.01.

     A default under any indebtedness of the Company other than the Securities will not constitute
an Event of Default under this Indenture, and a default under one series of Securities will not
constitute a default under any other series of Securities. The Trustee shall not be charged with
knowledge of an Event of Default unless a Responsible Officer at the Corporate Trust Office has
actual knowledge thereof.

     Section 5.02 Acceleration of Maturity; Rescission, and Annulment. If any Event of Default
described in Section 5.01 above (other than Event of Default described in Section 5.01(e) and
Section 5.01(f)) shall have occurred and be continuing with respect to any series, then and in each
and every such case, unless the principal of all the Securities of such series shall have already
become due and payable, either the Trustee or the Holders of not less than 51% in aggregate
principal amount of the Securities of such series then Outstanding hereunder, by notice in writing
to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if
the Securities of such series are Original Issue Discount Securities, such portion of the principal
amount as may be

22

 

specified in the terms of that series) of all the Securities of such series and
any and all accrued interest thereon to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and payable, any provision of this
Indenture or the Securities of such series to the contrary notwithstanding. If an Event of Default
specified in Section 5.01(e) or Section 5.01(f) occurs, the principal amount of the Securities of
such series and any and all accrued interest thereon shall immediately become and be due and
payable without any declaration or other act on the party of the Trustee or any Holder. No
declaration of acceleration by the Trustee with respect to any series of Securities shall
constitute a declaration of acceleration by the Trustee with respect to any other series of
Securities, and no declaration of acceleration by the Holders of at least 51% in aggregate
principal amount of the Outstanding Securities of any series shall constitute a declaration of
acceleration or other action by any of the Holders of any other series of Securities, in each case
whether or not the Event of Default on which such declaration is based shall have occurred and be
continuing with respect to more than one series of Securities, and whether or not any Holders of
the Securities of any such affected series shall also be Holders of Securities of any other such
affected series.

     At any time after such a declaration of acceleration has been made with respect to the
Securities of any series 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 not less than a
majority of the aggregate principal amount of the Outstanding Securities of such series, by written
notice to the Company and the Trustee, may rescind and annul such declaration and its consequences
if all Events of Default with respect to such series of Securities, other than the nonpayment of
the principal of the Securities of such series which have become due solely by such acceleration,
have been cured or waived as provided in Section 5.13, if such cure or waiver does not conflict
with any judgment or decree set forth in Section 5.01(e) and Section 5.01(f) and if all sums paid
or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel have been paid.

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

     Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. The Company
covenants that if:

     (a) default is made in the payment of any installment of interest on any Security of
any series when such interest becomes due and payable, or

     (b) default is made in the payment of the principal of (or premium, if any, on) any
Security at the Maturity thereof, or

     (c) default is made in the payment of any sinking or purchase fund or analogous
obligation when the same becomes due by the terms of the Securities of any series, and

     (d) any such default continues for any period of grace provided in relation to such
default pursuant to Section 5.01, then, with respect to the Securities of such series, the
Company will, upon demand of the Trustee, pay to it, for the benefit of the Holder of any
such Security (or the Holders of any such series in the case of clause (c) above), the
whole amount then due and payable on any such Security (or on the Securities of any such
series in the case of clause (c) above) for principal (and premium, if any) and interest,
if any, with interest (to the extent that payment of such interest shall be legally
enforceable) upon the overdue principal (and premium, if any) and upon overdue installments
of interest, if any, at such rate or rates as may be prescribed therefor by the terms of
any such Security (or of Securities of any such series in the case of clause (c) above);
and, in addition thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel and all other amounts due the Trustee under
Section 6.07.

     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 the Securities of such series and
collect the money 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, wherever situated.

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

     Section 5.04 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 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 or interest) shall be entitled and empowered, by
intervention in such proceedings or otherwise,

     (a) to file and prove a claim for the whole amount of principal (or, with respect to
Original Discount Securities, such portion of the principal amount as may be specified in
the terms of such Securities), premium, if any, and interest, if any, owing and unpaid in
respect of the Securities, and to file such other papers or documents as may be necessary
and 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 all other amounts due the Trustee under Section 6.07) and of the
Securityholders allowed in such judicial proceedings, and

     (b) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same; and any receiver, assignee, trustee, liquidator,
sequestrator (or other similar official) in any such judicial proceeding is hereby
authorized by each Securityholder 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
Securityholders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee and its agent and
counsel, and any other amounts due the Trustee under Section 6.07 hereof.

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

     Section 5.05 Trustee May Enforce Claims Without Possession of Securities. All rights of
action and claims under this Indenture or the Securities of any series may be prosecuted and
enforced by the Trustee without the possession of any of the Securities of such series 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 and its agents and counsel, be for the ratable benefit of
the Holders of the Securities, of the series in respect of which such judgment has been recovered.

     Section 5.06 Application of Money Collected. Any money collected by the Trustee with respect
to a series of Securities 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, premium, if any, or interest, if any, upon presentation of the Securities of such series
and the notation thereon of the payment, if only partially paid, and upon surrender thereof, if
fully paid:

24

 

     First: To the payment of all amounts due the Trustee under Section 6.07 hereof;

     Second: To the payment of the amounts then due and unpaid upon the Securities of that series
for principal, premium, if any, interest, if any, and additional amounts, if any, in respect of
which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind; and

     Third: The balance, if any, to the Person or persons entitled thereto.

     Section 5.07 Limitation on Suits. No Holder of any Security of any series 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

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

     (b) the Holders of not less than 51% in principal amount of the Outstanding Securities
of such 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;

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

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

     (e) 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 such series;

it being understood and intended that no one or more Holders of Securities of such series
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 Holders of
Securities of such series, or to obtain or to seek to obtain priority or preference over
any other such Holders or to enforce any right under this Indenture, except in the manner
herein provided and for the equal and proportionate benefit of all the Holders of all
Securities of such series.

     Section 5.08 Unconditional Right of Securityholders to Receive Principal, Premium, and
Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal, premium, if
any, and (subject to Section 3.07) interest, if any, (and additional amounts, if any) on such
Security on or after the respective payment dates expressed in such Security (or, in the case of
redemption or repayment, on the Redemption Date or Repayment Date, as the case may be) and to
institute suit for the enforcement of any such payment on or after such respective date, and such
right shall not be impaired or affected without the consent of such Holder.

     Section 5.09 Restoration of Rights and Remedies. If the Trustee or any Securityholder has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding
has been discontinued or abandoned for any reason, then and in every such case the Company, the
Trustee and the Securityholders 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 Securityholders shall continue as though no such proceeding had
been instituted.

     Section 5.10 Rights and Remedies Cumulative. No right or remedy herein conferred upon or
reserved to the Trustee or to the Securityholders is intended to be exclusive of any other right or
remedy, and every right or 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.

25

 

     Section 5.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any
Holder of any Security 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 Securityholders may be exercised from time to time, and as often as may be deemed expedient, by
the Trustee or by the Securityholders, as the case may be.

     Section 5.12 Control by Securityholders. The Holders of 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

     (a) the Trustee shall have the right to decline to follow any such direction if the
Trustee, being advised by counsel, determines that the action so directed may not lawfully
be taken or would conflict with this Indenture or if the Trustee in good faith shall, by a
Responsible Officer, determine that the proceedings so directed would involve it in
personal liability or be unjustly prejudicial to the Holders not taking part in such
direction, and

     (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

     Section 5.13 Waiver of Past Defaults. The Holders of not less than a majority in principal
amount of the Outstanding Securities of any series may, on behalf of the Holders of all the
Securities of such series, waive any past default hereunder with respect to such series and its
consequences, except a default not theretofore cured:

     (a) in the payment of principal, premium, if any, or interest, if any, on any Security
of such series, or in the payment of any sinking or purchase fund or analogous obligation
with respect to the Securities of such series, or

     (b) in respect of a covenant or provision in this Indenture which, under ARTICLE IX
hereof, cannot be modified or amended without the consent of the Holder of each Outstanding
Security of such series.

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

     Section 5.14 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, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or
defenses made by such party litigant; but the provisions of this Section shall not apply to any
suit instituted by the Trustee, to any suit instituted by any Securityholder or group of
Securityholders holding in the aggregate more than 25% in principal amount of the Outstanding
Securities of any series to which the suit relates, or to any suit instituted by any Securityholder
for the enforcement of the payment of principal, premium, if any, or interest, if any, on any
Security on or after the respective payment dates expressed in such Security (or, in the case of
redemption or repayment, on or after the Redemption Date or Repayment Date).

     Section 5.15 Waiver of Stay or Extension Laws. The Company covenants (to the extent that it
may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law (other than any bankruptcy
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.

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ARTICLE VI

THE TRUSTEE

     Section 6.01 Certain Duties and Responsibilities of Trustee.

     (a) Except during the continuance of an Event of Default with respect to any series of
Securities,

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

     (ii) in the absence of bad faith on its part, the Trustee may, with respect
to Securities of such series, conclusively rely 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 on their face to
the requirements of this Indenture (but need not confirm or investigate the
accuracy of calculations or other facts stated therein).

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

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

     Section 6.02 Notice of Defaults. Within 90 days after receipt of notice of the occurrence of
any default hereunder with respect to Securities of any series, the Trustee shall transmit by mail
to all Securityholders of such series, as their names and addresses appear in the Security
Register, 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, premium, if any, or interest, if any, on any Security of such series or in the
payment of any sinking or purchase fund installment or analogous obligation with respect to
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 Securityholders of such series and; provided, further, that, in the case of
any default of the character specified in Section 5.01(d) with respect to Securities of such
series, no such notice to Securityholders of such series shall be given until at least 60 days
after the occurrence thereof. For the purpose of this Section, the term “default”, with respect to
Securities of any series, means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Securities of such series.

     Section 6.03 Certain Rights of Trustee. Except as otherwise provided in Section 6.01 above:

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

     (b) any request, direction or order of the Company mentioned herein shall be
sufficiently evidenced by a Company Request or Company Order and any resolution of the
Board of Directors may be sufficiently evidenced by a Board Resolution;

27

 

     (c) 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 or Opinion
of Counsel or both, and shall not be liable for any action it takes or omits to take in
good faith reliance on such certificate or opinion;

     (d) the Trustee may consult with counsel of its selection and the advice or opinion of
such counsel as to matters of law shall be full and complete authorization and protection
from liability in respect of any action taken, suffered or omitted by it hereunder in good
faith and in reliance thereon;

     (e) 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 Securityholders
pursuant to this Indenture, unless such Securityholders 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;

     (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture or other paper or document, but 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, personally or by agent or attorney; and

     (g) 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.

     Section 6.04 Not Responsible for Recitals or Issuance of Securities. The recitals contained
herein and in the Securities, except the certificates of authentication, shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities. The Trustee shall not be accountable for the use or application by the Company of
Securities or the proceeds thereof.

     Section 6.05 May Hold Securities. The Trustee or any Paying Agent, Security Registrar, or
other agent of the Company, in its individual or any other capacity, may become the owner or
pledgee of Securities and, subject to Section 6.08 and Section 6.13 hereof, may otherwise deal with
the Company with the same rights it would have if it were not Trustee, Paying Agent, Security
Registrar, or such other agent.

     Section 6.06 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 with the
Company.

     Section 6.07 Compensation and Reimbursement. The Company covenants and agrees:

     (a) to pay the Trustee from time to time, and the Trustee shall be entitled to,
reasonable compensation for all services rendered by it hereunder which shall have been
from time to time separately agreed by the Company and the Trustee in writing (which
compensation shall not be limited by any provision of law in regard to the compensation of
a trustee of an express trust);

     (b) except as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made 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, disbursement or advance as may be attributable to its negligence
or bad faith; and

28

 

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

     Without prejudice to any other rights available to the Trustee under applicable law, when the
Trustee incurs expenses or renders services in connection with an Event of Default specified in
Section 5.01(e) and Section 5.01(f) above, such expenses (including the reasonable charges and
expenses of its counsel) and compensation for such services are intended to constitute expenses of
administration under any applicable Federal or State bankruptcy, insolvency, reorganization, or
other similar law.

     To secure the Company’s payment obligations in this Section, the Trustee shall have a senior
claim to which the Securities are hereby made subordinate upon all property and funds held or
collected by the Trustee for any amount owing to it or any predecessor Trustee pursuant to this
Section, except with respect to funds held in trust for the benefit of the Holders of particular
Securities.

     The provisions of this Section shall survive the satisfaction and discharge of this Indenture.

     Section 6.08 Disqualification; Conflicting Interests. If the Trustee has or shall acquire any
conflicting interest within the meaning of the Trust Indenture Act, it shall either eliminate such
interest or resign as Trustee with respect to one or more series of Securities, to the extent and
in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this
Indenture. To the extent permitted by such Trust Indenture Act, the Trustee shall not be deemed to
have a
conflicting interest by virtue of being a trustee under this Indenture with respect to
Securities of more than one series.

     Section 6.09 Corporate Trustee Required; Eligibility. There shall at all times be a Trustee
hereunder with respect to each series of Securities that shall be a corporation organized and doing
business under the laws of the United States of America or of any State or Territory thereof or of
the District of Columbia, authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least $50,000,000, and subject to supervision or examination by
Federal or State authority and having its principal office and place of business in the City of New
York, if there be such a corporation having its principal office and place of business in said City
and willing to act as Trustee on customary and usual terms. If such corporation publishes reports
of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising
or examining authority, then for the purposes of this Section, the combined capital and surplus of
such corporation shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time the Trustee with respect to any series of
Securities 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.

     Section 6.10 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 under Section 6.11.

     (b) The Trustee may resign with respect to any one or more series of Securities at any
time by giving at least 60 days’ written notice thereof to the Company. If an instrument
of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30
days after the giving of such notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor Trustee.

     (c) The Trustee may be removed with respect to any series of Securities at any time by
Act of the Holders of 66 2/3% in principal amount of the Outstanding Securities of that
series, delivered to the Trustee and to the Company.

     (d) If at any time:

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     (i) the Trustee shall fail to comply with Section 6.08 above with respect to
any series of Securities after written request therefor by the Company or by any
Securityholder who has been a bona fide Holder of a Security of that series for at
least six months, or

     (ii) the Trustee shall cease to be eligible under Section 6.09 above with
respect to any series of Securities and shall fail to resign after written request
therefor by the Company or by any such Securityholder, or

     (iii) the Trustee shall become incapable of acting with respect to any series
of Securities, or

     (iv) the Trustee 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,

     (v) then, in any such case (A) the Company may remove the Trustee, with
respect to the series or, in the case of clause (iv), with respect to all series,
or (B) subject to Section 5.14, any Securityholder 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 removal of the Trustee and the appointment of
a successor Trustee with respect to the series or, in the case of clause (iv),
with respect to all series.

     (e) If the Trustee shall resign, be removed or become incapable of acting with respect
to any series of Securities, or if a vacancy shall occur in the office of Trustee with
respect to any series of Securities for any cause, the Company shall promptly appoint a
successor Trustee for that series of Securities. If, within one year after such
resignation, removal or incapacity, or the occurrence of such vacancy, a successor Trustee
with respect to such series of Securities shall be appointed by Act of the Holders of
66-2/3% 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 such
series and supersede the successor Trustee appointed by the Company with respect to such
series. If no successor Trustee with respect to such series shall have been so appointed
by the Company or the Securityholders of such series and accepted appointment in the manner
hereinafter provided, any Securityholder who has been bona fide Holder of a Security of
that 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 such series.

     (f) The Company shall give notice of each resignation and each removal of the Trustee
with respect to any series and each appointment of a successor Trustee with respect to any
series by mailing written notice of such event by first-class mail, postage prepaid, to the
Holders of Securities of that series as their names and addresses appear in the Security
Register. Each notice shall include the name of the successor Trustee and the address of
its principal Corporate Trust Office.

     Section 6.11 Acceptance of Appointment by Successor. Every successor Trustee appointed
hereunder with respect to all series of Securities shall execute, acknowledge and deliver to the
Company and to the predecessor Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the predecessor 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 predecessor Trustee with respect to any such series; but, on
request of the Company or the successor Trustee, such predecessor Trustee shall, upon payment of
its reasonable charges, if any, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the predecessor Trustee, and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such predecessor
Trustee hereunder.

     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 predecessor Trustee and each successor Trustee
with respect to the Securities

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of any applicable series shall execute and deliver an indenture
supplemental hereto which (1) shall contain such provisions as shall be deemed necessary or
desirable to transfer and to conform to, and to vest in, each successor Trustee all the rights,
powers, trusts and duties of the predecessor Trustee with respect to the Securities of any series
as to which the appointment of such successor Trustee relates and (2) if the predecessor 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 predecessor
Trustee with respect to the Securities of any series as to which the predecessor Trustee is not
being succeeded shall continue to be vested in the predecessor 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; and, 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.

     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 the first or second preceding paragraph, as the case may be.

     No successor Trustee with respect to any series of Securities shall accept its appointment
unless at the time of such acceptance such successor Trustee shall be qualified and eligible with
respect to that series under this Article.

     Notwithstanding replacement of the Trustee pursuant to this Section, the Company’s obligations
under Section 6.07 hereof shall continue for the benefit of the retiring Trustee.

     Section 6.12 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, that 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 shall
have been authenticated, but not delivered, by the Trustee then in office, any successor Trustee by
merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.

     Section 6.13 Preferential Collection of Claims Against Company. If and when the Trustee shall
be or shall become a creditor, of the Company (or of any other obligor upon the Securities), the
Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of
claims against the Company (or against any such other obligor, as the case may be).

     Section 6.14 Appointment of Authenticating Agent. At any time when any of the Securities
remain Outstanding the Trustee, with the approval of the Company, 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 exchange,
registration of transfer or partial redemption thereof or pursuant to Section 3.06, 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. 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 corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized

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under such laws to act as an 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 authority. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or to the requirements of said 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. If 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 any further act on the part of the Trustee or the
Authenticating Agent.

     An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and, if other than the Company, to the Company. The Trustee may at any time terminate the agency
of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and, if
other than the Company, 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, with the approval of the Company, may
appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail
written notice of such appointment by first-class mail, postage prepaid, to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve, as their names
and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance
of its appointment hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as originally named as an Authenticating Agent. 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 for its services under this Section.

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

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

	 	 	 	 	 	 	 
	 

	 	 	, as Trustee	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	As Authenticating Agent:	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Authorized Officer:	 	 

ARTICLE VII

SECURITYHOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

     Section 7.01 Company to Furnish Trustee Names and Addresses of Securityholders. The Company
will furnish or cause to be furnished to the Trustee:

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     (a) semiannually, not more than 15 days after January 1 and July 1 in each year, in
such form as the Trustee may reasonably require, a list of the names and addresses of the
Holders of Securities of each series as of such date, 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, that if the
Trustee shall be the Security Registrar for such series, such list shall not be required to
be furnished.

     Section 7.02 Preservation of Information; Communications to Securityholders.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of Holders of Securities contained in the most recent list furnished to
the Trustee as provided in Section 7.01 and the names and addresses of Holders of
Securities received by the Trustee in its capacity
as Security Registrar. The Trustee may destroy any list furnished to it as provided
in Section 7.01 upon receipt of a new list so furnished.

     (b) The rights of the Holders to communicate with other Holders with respect to their
rights under this Indenture or in connection with the Securities, and the corresponding
rights, priviledges and obligations of the Trustee with respect thereto, shall be as
provided in the Trust Indenture Act.

     (c) Every Holder of Securities, by receiving and holding the same, agrees with the
Company and the Trustee that neither the Company nor the Trustee shall be held accountable
by reason of the disclosure of any information as to the names and addresses of the Holders
of Securities made in accordance with the Trust Indenture Act.

     Section 7.03 Reports by Trustee.

     (a) The Trustee shall transmit to Holders such reports concerning the Trustee and its
actions under this Indenture as may be required pursuant to the Trust Indenture Act at the
times and in the manner provided pursuant thereto. If required by Section 313(a) of the
Trust Indenture Act, the Trustee shall, within 60 days after each June 1 following the date
of this Indenture, deliver to each Holder, as provided in Trust Indenture Act Section
313(c), a brief report dated as of such June 1, which complies with the provisions of such
Section 313(a).

     (b) A copy of each such report shall, at the time of such transmission to Holders, be
filed by the Trustee with each stock exchange upon which any Securities are listed, with
the Commission and with the Company as required by Trust Indenture Act Section 313(d). The
Company will promptly notify the Trustee when any Securities are listed on any stock
exchange.

     Section 7.04 Reports by Company. The Company will:

     (a) file with the Trustee, within 30 days after the Company is required to file the
same with the Commission, copies of the annual reports and of the information, documents
and other reports (or copies of such portions of any of the foregoing as the Commission may
from time to time by rules and regulations prescribe) which the Company may be required to
file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934; or, if the Company is not required to file information, documents or reports
pursuant to either of said 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 Securities Exchange Act of 1934 in respect of a
security listed and registered on a national securities exchange as may be prescribed from
time to time in such rules and regulations;

     (b) 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

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respect to compliance by the Company with the conditions and covenants of this
Indenture as may be required from time to time by such rules and regulations; and

     (c) transmit by mail to all Securityholders, as their names and addresses appear in
the Security Register, within 30 days after the filing thereof with the Trustee, such
summaries of any information, documents and reports required to be filed by the Company
pursuant to paragraphs (a) and (b) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission.

ARTICLE VIII

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

     Section 8.01 Company May Consolidate, etc., Only on Certain Terms. The Company shall not
consolidate with or merge into any other corporation or convey or transfer all or substantially all
of its properties and assets and the properties and assets of the Subsidiaries, taken as a whole,
to any Person, unless;

     (a) either the Company shall be the continuing corporation, or the corporation formed
by such consolidation or into which the Company is merged or the Person which acquires by
conveyance or transfer all or substantially all of the properties and assets of the Company
and the Subsidiaries, taken as a whole, shall be a corporation organized and existing under
the laws of the United States of America or any State thereof or the District of Columbia,
and shall expressly assume, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the
principal, premium, if any, and interest, if any, on all the Securities and the performance
of every covenant of this Indenture on the part of the Company to be performed or observed;

     (b) immediately after giving effect to such transaction, no Event of Default, or event
which, after notice or lapse of time, or both, would become an Event of Default, shall have
happened and be continuing; and

     (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel to the effect that any such consolidation, merger, conveyance or transfer and
any assumption permitted or required by this Article complies with the provisions of this
Article.

     Section 8.02 Successor Corporation Substituted. Upon any consolidation or merger, or any
conveyance or transfer of all or substantially all of the properties and assets of the Company and
its Subsidiaries in accordance with Section 8.01, the successor corporation formed by such
consolidation or into which the Company is merged or the Person to which such conveyance or
transfer is made shall succeed to, and be substituted for, and may exercise every right and power
of, the Company under this Indenture with the same effect as if such successor corporation had been
named as the Company herein and the Company shall thereupon be released from all obligations
hereunder and under the Securities. Such successor corporation thereupon may cause to be signed
and may issue 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 of the Securities so issued shall in all
respects have the same legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all of such Securities
had been issued at the date of the execution hereof.

     In case of any such consolidation, merger, sale 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.

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ARTICLE IX

SUPPLEMENTAL INDENTURES

     Section 9.01 Supplemental Indentures Without Consent of Securityholders. Without the consent
of the Holders of any Securities, the Company and the Trustee, at any time and from time to time,
may enter into one or more indentures supplemental hereto (which shall conform to the provisions of
the Trust Indenture Act as in force at the date of execution thereof), in form satisfactory to the
Trustee, for any of the following purposes:

     (a) to evidence the succession of another corporation to the Company, or successive
successions, and the assumption by any such successor of the covenants, agreements and
obligations of the Company pursuant to ARTICLE VIII hereof; or

     (b) to add to the covenants of the Company such further covenants, restrictions or
conditions for the protection of the Holders of the Securities of any or all series as the
Company and the Trustee shall consider to be for the protection of the Holders of the
Securities of any or all series or to surrender any right or power herein conferred upon
the Company (and if such covenants or the surrender of such right or power are to be for
the benefit of less than all series of Securities, stating that such covenants are
expressly being included or such surrenders are expressly being made solely for the benefit
of one or more specified series); or

     (c) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein or in any supplemental indenture, or to make
any other provisions with respect to matters or questions arising under this Indenture that
do not adversely affect the interests of the Holders of Securities of any series in any
material respect; or

     (d) to add to this Indenture such provisions as may be expressly permitted by the
Trust Indenture Act, excluding, however, the provisions referred to in Section 316(a)(2) of
the Trust Indenture Act as in effect at the date as of which this instrument is executed or
any corresponding provision in any similar federal statute hereafter enacted; or

     (e) to add guarantors or co-obligors with respect to any series of Securities; or

     (f) to secure any series of Securities; or

     (g) to establish any form of Security, as provided in ARTICLE II hereof, and to
provide for the issuance of any series of Securities, as provided in ARTICLE III hereof,
and to set forth the terms thereof, and/or to add to the rights of the Holders of the
Securities of any series; or

     (h) to evidence and provide for the acceptance of appointment by another corporation
as a successor Trustee hereunder with respect to one or more series of Securities and to
add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to Section 6.11 hereof; or

     (i) to add any additional Events of Default in respect of the Securities of any or all
series (and if such additional Events of Default are to be in respect of less than all
series of Securities, stating that such Events of Default are expressly being included
solely for the benefit of one or more specified series); or

     (j) to comply with the requirements of the Commission in connection with the
qualification of this Indenture under the Trust Indenture Act; or

     (k) to make any change in any series of Securities that does not adversely affect in
any material respect the interests of the Holders of such Securities.

     Section 9.02 Supplemental Indentures With Consent of Securityholders. With the consent of the
Holders of not less than a majority in principal amount of the Outstanding Securities of each
series affected by such supplemental indenture or indentures, by Act of said Holders delivered to
the Company and the Trustee, the Company and the Trustee may from time to time and at any time
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

35

 

this Indenture or of any
supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of
each such series under this Indenture; provided, however, that no such supplemental indenture
shall, without the consent of the Holder of each Outstanding Security affected thereby:

     (a) change the Scheduled Maturity Date or the stated payment date of any payment of
premium or interest payable on any Security, or reduce the principal amount thereof, or any
amount of interest or premium payable thereon, or

     (b) change the method of computing the amount of principal of any Security or any
interest payable thereon on any date, or change any Place of Payment where, or the coin or
currency in which, any Security or any payment of premium or interest thereon is payable,
or

     (c) impair the right to institute suit for the enforcement of any payment described in
clauses (a) or (b) on or after the same shall become due and payable, whether at Maturity
or, in the case of redemption or repayment, on or after the Redemption Date or the
Repayment Date, as the case may be; or

     (d) change or waive the redemption or repayment provisions of any series;

     (e) 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 of compliance with certain
provisions of this Indenture or certain defaults hereunder and their consequences, provided
for in this Indenture; or

     (f) modify any of the provisions of this Section or Section 5.13, except to increase
any such percentage 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, or the deletion of this proviso, in accordance with the
requirements of Section 6.11 and Section 9.01(h); or

     (g) adversely affect the ranking or priority of any series;

     (h) release any guarantor or co-obligor from any of its obligations under its
guarantee of the Securities or this Indenture, except in compliance with the terms of this
Indenture; or

     (i) waive any Event of Default pursuant to Section 5.01(a), Section 5.01(b) or Section
5.01(c) hereof with respect to such Security.

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

     It shall not be necessary for any Act of Securityholders under this Section 9.02 to approve
the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

     Section 9.03 Execution of Supplemental Indentures. Upon request of the Company and upon
filing with the Trustee of evidence of an Act of Securityholders as aforementioned, the Trustee
shall join with the Company in the execution of such supplemental indenture unless such
supplemental indenture affects the Trustee’s own rights, powers, trusts, duties or immunities under
this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be
obligated to, enter into such supplemental indenture. In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 6.01) 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.

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     Section 9.04 Effect of Supplemental Indentures. Upon the execution of any supplemental
indenture under this Article, this Indenture shall be and be deemed to be modified and amended in
accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and the respective rights, limitation of rights, duties, powers, trusts and immunities
under this Indenture of the Trustee, the Company, and every Holder of Securities theretofore or
thereafter
authenticated and delivered hereunder shall be determined, exercised and enforced thereunder
to the extent provided therein.

     Section 9.05 Conformity With Trust Indenture Act. Every supplemental indenture executed
pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in
effect.

     Section 9.06 Reference in Securities to Supplemental Indentures. Securities of any series
authenticated and delivered after the execution of any supplemental indenture pursuant to this
Article may, and shall if required by the 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 so modified as to conform, in the opinion of the Trustee and the Company, to any
modification of this Indenture contained in any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding
Securities.

ARTICLE X

COVENANTS

     Section 10.01 Payment of Principal, Premium and Interest. With respect to each series of
Securities, the Company will duly and punctually pay or cause to be paid the principal, premium, if
any, and interest, if any, on such Securities in accordance with their terms and this Indenture,
and will duly comply with all the other terms, agreements and conditions contained in the Indenture
for the benefit of the Securities of such series.

     Section 10.02 Maintenance of Office or Agency. So long as any of the Securities remain
outstanding, the Company will maintain an office or agency in each Place of Payment where
Securities may be presented or surrendered for payment, where Securities may be surrendered for
registration of transfer or exchange, and where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served. The Company will give prompt written
notice to the Trustee of the location, and of any change in the location, of such office or agency.
If at any time the Company shall fail to maintain such 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, and the Company hereby appoints the
Trustee its agent to receive all such presentations, surrenders, notices and demands.

     Section 10.03 Money or Security Payments to Be Held in Trust. If the Company shall at any
time act as its own Paying Agent for any series of Securities, it will, on or before each due date
of the principal, premium, if any, or interest, if any, on any of the Securities of such series,
segregate and hold in trust for the benefit of the Holders of the Securities of such series a sum
sufficient to pay such principal, premium, or interest so becoming due until such sums shall be
paid to such Holders of such Securities 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, it
will, on or prior to each due date of the principal, premium, if any, or interest, if any, on any
Securities of such series, deposit with a Paying Agent a sum sufficient to pay such principal,
premium, or interest so becoming due, such sum to be held in trust for the benefit of the Holders
of the Securities entitled to the same 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 other than the Trustee for any series of Securities
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:

37

 

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

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

     (c) 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.

     The Company may, at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture with respect to any series of Securities 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 in respect of each and every series of Securities as to which it seeks to
discharge this Indenture or, if for any other purpose, all sums so held in trust by the Company in
respect of all Securities, 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 money.

     Section 10.04 Certificate to Trustee. The Company will deliver to the Trustee within 120 days
after the end of each fiscal year, an Officers’ Certificate, one of whose signatories shall be the
Company’s principal executive, accounting or financial officer, stating that in the course of the
performance by the signers of their duties as officers of the Company they would normally have
knowledge of any default by the Company in the performance of any of its covenants, conditions or
agreements contained herein (without regard to any period of grace or requirement of notice
provided hereunder), stating whether or not they have knowledge of any such default and, if so,
specifying each such default of which the signers have knowledge and the nature thereof.

     Section 10.05 Corporate Existence. Subject to ARTICLE VIII, the Company will do or cause to
be done all things necessary to preserve and keep in full force and effect its corporate existence.

ARTICLE XI

REDEMPTION OF SECURITIES

     Section 11.01 Applicability of Article. The Company may reserve the right to redeem and pay
before the Scheduled Maturity Date all or any part of the Securities of any series, either by
optional redemption, sinking or purchase fund or analogous obligation or otherwise, by provision
therefor in the form of Security for such series established and approved pursuant to Section 2.02
and Section 2.03 or as otherwise provided in Section 3.01, and on such terms as are specified in
such form or in the indenture supplemental hereto with respect to Securities of such series as
provided in Section 3.01. Redemption of Securities of any series shall be made in accordance with
the terms of such Securities and, to the extent that this Article does not conflict with such
terms, the succeeding Sections of this Article.

     Section 11.02 Election to Redeem; Notice to Trustee. In case of any redemption at the
election of the Company, the Company shall, at least 60 days prior to the Redemption Date fixed by
the Company (unless a shorter notice shall be satisfactory to the Trustee) notify the Trustee in
writing 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 (a) prior to the expiration of any
restriction on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified
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 or condition.

     Section 11.03 Selection by Trustee of Securities to be Redeemed. If fewer than all the
Securities of any series 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 not previously called for redemption, by such method as the Trustee shall
deem fair and appropriate, which may include provision for the selection for redemption of portions
of
the principal of Securities of such series of a denomination larger than the

38

 

minimum
authorized denomination for Securities of that series. Unless otherwise provided in the terms of a
particular series of Securities, the portions of the principal of Securities so selected for
partial redemption shall be equal to the minimum authorized denomination of the Securities of such
series, or an integral multiple thereof, and the principal amount which remains outstanding shall
not be less than the minimum authorized denomination for Securities of such series.

     The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Security 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 of such Security which has been or is to
be redeemed.

     Section 11.04 Notice of Redemption. Notice of redemption shall be given by first-class mail,
postage prepaid, mailed not fewer than 30 nor more than 60 days prior to the Redemption Date, to
each Holder of Securities to be redeemed, at his or her address appearing in the Security Register
on the applicable Record Date.

     All notices of redemption shall state:

     (1) the Redemption Date;

     (2) the Redemption Price, or if not then ascertainable, the manner of calculation
thereof;

     (3) if fewer than all Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the respective principal amounts)
of the Securities to be redeemed, from the Holder to whom the notice is given and that on
and after the date fixed for redemption, upon surrender of such Security, a new Security
or Securities of the same series in the aggregate principal amount equal to the unredeemed
portion thereof will be issued in accordance with Section 11.07;

     (4) that on the Redemption Date the Redemption Price will become due and payable upon
each such Security, and that interest, if any, thereon shall cease to accrue from and
after said date;

     (5) the place where such Securities are to be surrendered for payment of the
Redemption Price, which shall be the office or agency maintained by the Company in the
Place of Payment pursuant to Section 10.02 hereof; and

     (6) that the redemption is on account of a sinking or purchase fund, or other
analogous obligation, if that be the case.

     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, made at least five Business Days prior to the
date on which notice is to be given, by the Trustee in the name and at the expense of the Company.

     Section 11.05 Deposit of Redemption Price. On or prior to any Redemption Date, the Company
shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money, in
immediately available funds, sufficient to pay the Redemption Price of all the Securities which are
to be redeemed on that date.

     Section 11.06 Securities Payable on Redemption Date. Notice of Redemption having been given
as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified and from and after such date (unless the Company
shall default in the payment of the Redemption Price) such Securities shall cease to bear interest.
Upon surrender of such Securities for redemption in accordance with the notice, such
Securities shall be paid by the Company at the Redemption Price. Any installment of interest
due and payable on or prior to the Redemption Date shall be payable to the Holders of such
Securities registered as such on the relevant Record Date according to the terms and the provisions
of Section

39

 

3.07 above; unless, with respect to an Interest Payment Date that falls on a Redemption
Date, such Securities provide that interest due on such date is to be paid to the Person to whom
principal is payable.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal shall, until paid, bear interest from the Redemption Date at the rate
borne by the Security, or as otherwise provided in such Security.

     Section 11.07 Securities Redeemed in Part. Any Security that is to be redeemed only in part
shall be surrendered at the office or agency maintained by the Company in the Place of Payment
pursuant to Section 10.02 hereof with respect to that series (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 and at the expense of the Company, a new Security or
Securities of the same series, tenor, terms and Scheduled Maturity Date, of any authorized
denomination as requested by such Holders in aggregate principal amount equal to and in exchange
for the unredeemed portion of the principal of the Security so surrendered.

     Section 11.08 Provisions with Respect to any Sinking Funds. Unless the form or terms of any
series of Securities shall provide otherwise, in lieu of making all or any part of any mandatory
sinking fund payment with respect to such series of Securities in cash, the Company may at its
option (a) deliver to the Trustee for cancellation any Securities of such series theretofore
acquired by the Company, or (b) receive credit for any Securities of such series (not previously so
credited) acquired or redeemed by the Company (other than through operation of a mandatory sinking
fund) and theretofore delivered to the Trustee for cancellation, and if it does so then (i)
Securities so delivered or credited shall be credited at the applicable sinking fund Redemption
Price with respect to Securities of such series, and (ii) on or before the 60th day next preceding
each sinking fund Redemption Date with respect to such series of Securities, the Company will
deliver to the Trustee (A) an Officers’ Certificate specifying the portions of such sinking fund
payment to be satisfied by payment of cash and by the delivery or credit of Securities of such
series acquired or redeemed by the Company, and (B) such Securities, to the extent not previously
surrendered. Such Officers’ Certificate shall also state the basis for any such credit and that
the Securities for which the Company elects to receive credit have not been previously so credited
and were not acquired by the Company through operation of the mandatory sinking fund, if any,
provided with respect to such Securities and shall also state that no Event of Default with respect
to Securities of such series has occurred and is continuing. All Securities so delivered to the
Trustee shall be canceled by the Trustee and no Securities shall be authenticated in lieu thereof.

     If the sinking fund payment or payments (mandatory or optional) with respect to any series of
Securities made in cash plus any unused balance of any preceding sinking fund payments with respect
to Securities of such series made in cash shall exceed $50,000 (or a lesser sum if the Company
shall so request), unless otherwise provided by the terms of such series of Securities, that cash
shall be applied by the Trustee on the sinking fund Redemption Date with respect to Securities of
such series next following the date of such payment to the redemption of Securities of such series
at the applicable sinking fund Redemption Price with respect to Securities of such series, together
with accrued interest, if any, to the date fixed for redemption, with the effect provided in
Section 11.06. The Trustee shall select, in the manner provided in Section 11.03, for redemption
on such sinking fund Redemption Date a sufficient principal amount of Securities of such series to
utilize that cash and shall thereupon cause notice of redemption of the Securities of such series
for the sinking fund to be given in the manner provided in Section 11.04 (and with the effect
provided in Section 11.06) for the redemption of Securities in part at the option of the Company.
Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Securities
of such series shall be added to the next cash sinking fund payment with respect to Securities of
such series received by the Trustee and, together with such payment, shall be applied in accordance
with the provisions of this Section 11.08. Any and all sinking fund moneys with respect to
Securities of any series held by the Trustee at the Maturity of Securities of such series, and not
held for the payment or redemption of particular Securities of such series, shall be applied by the
Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose, to
the payment of the principal of the Securities of such series at Maturity.

     On or before each sinking fund Redemption Date provided with respect to Securities of any
series, the Company shall pay to the Trustee in cash a sum equal to all accrued interest, if any,
to the date fixed for redemption on Securities to be redeemed on such sinking fund Redemption Date
pursuant to this Section 11.08.

40

 

     The Trustee shall not redeem any Securities with sinking fund moneys or give any notice of
redemption of Securities by operation of the applicable sinking fund during the continuance of a
default in payment of interest on Securities of such series or of any Event of Default with respect
to such series, except that if the notice of redemption of any Securities shall theretofore have
been mailed in accordance with the provisions hereof, the Trustee shall redeem such Securities if
cash sufficient for that purpose shall be deposited with the Trustee for that purpose in accordance
with the terms of this ARTICLE XI. Except as aforesaid, any moneys in the sinking fund with
respect to Securities of any series at the time when any such default or Event of Default with
respect to such series shall occur, and any moneys thereafter paid into such sinking fund shall,
during the continuance of such default or Event of Default with respect to such series, be held as
security for the payment of all Securities of such series; provided, however, that in case such
default or Event of Default with respect to such series shall have been cured or waived as provided
herein, such moneys shall thereafter be applied on the next sinking fund payment date on which such
moneys may be applied pursuant to the provisions of this Section 11.08.

ARTICLE XII

REPAYMENT AT OPTION OF HOLDERS

     Section 12.01 Applicability of Article. Repayment of Securities of any series which are
repayable before their Scheduled Maturity Date at the option of Holders thereof shall be made in
accordance with the terms of such Securities and (except as otherwise specified as contemplated by
Section 3.01 for Securities of any series) in accordance with this Article.

     Section 12.02 Repayment of Securities. Securities of any series subject to repayment in whole
or in part at the option of the Holders thereof will, unless otherwise provided in the terms of
such Securities, be repaid at a price equal to the principal amount thereof, together with interest
thereon accrued to the Repayment Date specified in the terms of such Securities. On or before the
Repayment Date, the Company 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
10.03) an amount of money, in immediately available funds, sufficient to pay the Repayment Price of
all the Securities which are to be repaid on such date.

     Section 12.03 Exercise of Option. Securities of any series subject to repayment at the option
of the Holders thereof will contain an “Option to Elect Repayment” form on the reverse of such
Securities. To be repaid at the option of the Holder, any Security so providing for such
repayment, with the “Option to Elect Repayment” form on the reverse of such Security duly completed
by the Holder, must be received by the Company 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 45 days nor later than 30 days prior
to the Repayment Date. 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 $1,000 unless otherwise specified in the terms of such Security, 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 12.04 When Securities Presented for Repayment Become Due and Payable. If Securities
of any series providing for repayment at the option of the Holders thereof shall have been
surrendered as provided in this
Article and as provided by 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) interest on such
Securities or the portions thereof, as the case may be, shall cease to accrue.

     Section 12.05 Securities Repaid in Part. Upon surrender of any 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,

41

 

without service charge and at the expense of the Company, a new Security
or Securities of the same series, tenor, terms and Scheduled Maturity Date, 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.

(signature page follows)

42

 

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

	 	 	 	 	 	 	 	 	 
	 	 	LAKES ENTERTAINMENT, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	TRUSTEE	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	   	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

43exv10w1

Exhibit 10.1

17 August 2009

Zachary S. Gibler

3744 Phillips Road

Granville, OH 43023

Dear Zach,

The Board of Directors and the Compensation Committee of the Board of Directors of Lighting Science
Group Corporation (the “Company”) are pleased to present the following offer of employment to you
for your new role as Chief Executive Officer.

Prior Agreements. This offer supersedes all prior oral and written agreements as of the
start date specified below with the exception that any and all restricted stock and stock
options previously conveyed to you, whether or not vested, shall remain conveyed to you.

Start Date. Your employment by the Company in your new position of Chief Executive
Officer shall be considered to have commenced on 11 June 2009.

Position, Responsibilities & Duties. Your position will be Chief Executive Officer.
You will report to the Company’s Board of Directors (the “Board”) and will have such duties and
responsibilities as are customarily exercised by a person holding the position of Chief
Executive Officer. During your employment with the Company and except as otherwise agreed by
the Board, you will devote your full employable time, attention and best efforts to the business
affairs of the Company (except during vacations or illness) and will not actively engage in
outside business activities, whether or not such activity is pursued for gain, profit or other
pecuniary advantage unless such activity (and the amount thereof) is approved by the Board.
Notwithstanding the foregoing, you will be entitled to devote a reasonable amount of time to
civic and community affairs and the management of your personal investments.

Base Compensation. Your annual salary will be two hundred seventy five thousand United
States dollars (US$275,000.00), less standard payroll deductions and all required withholdings,
and paid in accordance with the Company’s payroll policies. An adjustment retroactive to 11
June 2009 will be made to reconcile your prior base
salary to the base salary specified herein. In addition, at the end of the year, the
Compensation Committee will consider an increase to your base salary.

Lighting
Science Group Corporation      www.lsgc.com

	 	 	 	 	 	 	 
	 
	Headquarters
	 	Administration & Accounting
	 	Display Technology Center
	 	Illumination Technology Center
	120 Hancock Lane
	 	Suite 1515
	 	Suite 800
	 	Building 2A
	Westhampton, NJ 08060 USA
	 	2100 McKinney Avenue
	 	11390 Sunrise Gold Circle
	 	1227 South Patrick Drive
	v 609.265.1401
	 	Dallas, Texas 75201 USA
	 	Rancho Cordova, CA 95742 USA
	 	Satellite Beach, FL 32937 USA
	f 609.265.9905
	 	v 214.382.3630
	 	v 916. 852.1719
	 	v 321.779.5520
	800.808.5822
	 	f 214.382.3631
	 	f 916.852.1740
	 	f 321.779.5521
	 

											
	North America
	 	Australia
	 	Asia
	 	Japan
	 	Europe
	 	Netherlands

 

 

Car Allowance. The Company shall pay you or reimburse you a car allowance of one
thousand two hundred (US$1,200.00) per month. The car allowance shall cease immediately upon
the termination of your employment by the Company.

Initial Stock & Option Grants. Subject to approval by the Company’s Board of Directors,
you will be granted a number of shares of restricted stock and/or stock options, in addition to
the restricted stock and options previously granted to you, the number to be determined. The
issuance of the restricted stock and the stock options will be subject to standard written
Company agreements that will be presented to you in due course.

Performance Bonus. You will be eligible to participate in the Company’s performance
bonus plan(s) up to forty percent (40%) of your base salary, based on a combination of Company
performance and personal achievements as determined by the Board of Directors and/or the
Compensation Committee.

Long Term Incentive Plan. You will be eligible to participate in the Company’s long
term incentive plans for executives.

Benefits. The Company currently offers a suite of benefits for you and your qualified
dependents including medical, dental, vision and life insurance options. Eligibility for these
benefits will be the first of the month after you begin employment. Additionally, you are
eligible for paid sick time off and paid holidays. You will initially be eligible for twenty
(20) days of paid vacation per year of employment and you will accrue an additional five (5)
days of vacation for each year of employment, up to a maximum of thirty (30) days of paid
vacation per year. Additional details regarding benefits will be provided by the Company’s
human resources department in due course. Benefits shall cease immediately upon the termination
of your employment by the Company except as provided by law or as the Company’s policies may
allow.

At Will Employment. Please understand the Company is an employment-at-will company.
This means that you or the Company may terminate your employment at any time, for any reason or
for no reason, with or without notice. Accordingly, this letter is not a contract or commitment
for continued employment. The Company also reserves the right to amend its benefits, plans or
programs at any time.

General Termination. If your employment by the Company or its successor is terminated
by the Company or its successor for other than cause, you will receive a severance payment equal
to twelve (12) months of your salary, paid out, at the discretion of the Company or its
successor, in a lump sum within thirty (30) days of termination or paid out in equal
installments over twelve (12) months. The severance payment will be conditional upon your first
executing (and not revoking) a valid waiver and release of all claims that you may have against
the Company and/or its successor.

Termination For Cause. If your employment by the Company or its successor is terminated
for “cause,” you will not be entitled to a severance payment. “Cause” means: (a) a
misrepresentation of your education, work experience, and/or any matter upon which the Company
relied in considering and offering you employment; (b)willful breach of your employment
obligations, which, if curable, you fail to cure within (30) days after receipt of a written
notice of such breach; (c) gross negligence or recklessness in the performance of, or
intentional non-performance of, your duties to the Company; (d) commission of a felony or a
crime of moral turpitude; (e) commission of a material act of deceit, fraud, perjury or
embezzlement that involves or directly or indirectly causes harm to

Page 2 of 4

 

the Company or any of its
affiliates; or (f) repeatedly (i.e., on more than one occasion) being under the influence of
drugs or alcohol (other than over-the-counter or prescription medicine or other
medically-related drugs to the extent they are taken in accordance with their directions or
under the supervision of a physician) during the performance of your duties for the Company, or,
while under the influence of such drugs or alcohol, engaging in grossly inappropriate conduct
during the performance of your duties for the Company.

Resignation For Good Reason. If you resign for “good reason,” you will receive a
severance payment equal to twelve (12) months of your salary, paid out, at the discretion of the
Company or its successor, in a lump sum within thirty (30) days of termination or paid out in
equal installments over twelve (12) months. The severance payment will be conditional upon your
first executing (and not revoking) a valid waiver and release of all claims that you may have
against the Company and/or its successor. “Good reason” means the occurrence, without your
prior written consent, of any of the following events: (a) any material breach by the Company
of the terms and conditions set forth in this letter that the Company does not cure within a
reasonable time; (b) a reduction in your base salary that is greater than ten percent (10%) or
greater proportionally than an across-the-board reduction in the base salaries of all officers
of LSG); (c) a material reduction by the Company in the kind or level of employee benefits to
which you are entitled immediately prior to such reduction that is not generally applicable to
all executive level employees of the Company; or (d) a material reduction by the Company of your
duties and responsibilities, including a material change in job title; provided, that any such
event described in (a) through (d) above will not constitute good reason unless you deliver to a
member of the Compensation Committee of the Company a written notice of termination for good
reason within thirty (30) days after you first learn of the existence of the circumstances
giving rise to good reason, and within thirty (30) days following the delivery of such notice,
the Company LSG has failed to cure the circumstances giving rise to good reason.

Additional Terms & Conditions Of Employment. The Company requires its employees to sign
and comply with additional terms and conditions of employment concerning confidentiality,
assignment of inventions and works of authorship, non-competition, and non-recruitment. The
additional terms and conditions of employment will be presented to you for your review,
consideration and signature in due course and must be signed by within ten (10) days of receipt
by you.

Governing Law & Jurisdiction. In the event a dispute arises concerning your employment
or the terms and conditions of this letter, this letter, the terms and conditions of this letter
and your employment and any such dispute shall be governed by and construed in accordance with
the substantive laws of the State of New York. Jurisdiction for resolution of any disputes
shall be solely in New York and you and the Company hereby consent to the jurisdiction of the
federal and state courts located in New York.

If you wish to accept employment under the terms described above, please sign and date a copy of
this letter and return the signed and dated copy to me no later than 10 July 2009.

By signing this letter, you acknowledge that, except as expressly specified in this letter, the
terms and conditions set forth in this letter supersede any other offer, agreement, or promises
made to you by anyone, whether oral or written, and comprise the complete agreement between you and
the Company concerning the offer of employment by the Company or your role as Chief Executive
Officer.

If you have any questions regarding this offer, please do not hesitate to contact Richard Weinberg
of the Compensation Committee or John Mitchell.

Page 3 of 4

 

I look forward to your favorable reply and to a productive and enjoyable work relationship.

Sincerely,

John D. Mitchell, Jr.

Corporate Secretary

On behalf of the Board of Directors and the Compensation Committee

Agreed and Accepted:

	 	 	 
	/s/ Zachary S. Gibler
 

Zachary S. Gibler

	 	 

Date:
August 19, 2009                                        

Page 4 of 4

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