Document:

exv10w2

Exhibit 10.2

GUARANTY AND SECURITY AGREEMENT

Dated as of November 10, 2011

by

RENTECH NITROGEN, LLC,

RENTECH NITROGEN PARTNERS, L.P. AND

THE OTHER GRANTORS

FROM TIME TO TIME PARTY HERETO

in favor of

GENERAL ELECTRIC CAPITAL CORPORATION,

as Agent

 

 

 

ANNEXES AND SCHEDULES

	 	 	 

	Annex 1
	 	Form of Pledge Amendment
	Annex 2
	 	Form of Joinder Agreement
	Annex 3
	 	Form of Intellectual Property Security Agreement
	 
	 	 
	Schedule 1
	 	Commercial Tort Claims
	Schedule 2
	 	Filings
	Schedule 3
	 	Location of Inventory, Equipment and Books and Records
	Schedule 4
	 	Pledged Collateral
	Schedule 5
	 	Intellectual Property

 

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GUARANTY AND SECURITY AGREEMENT, dated as of November 10, 2011, by RENTECH NITROGEN, LLC
(“Borrower”) and each of the other entities listed on the signature pages hereof or that
becomes a party hereto pursuant to Section 8.6 (together with Borrower, each a “Grantor”
and collectively, the “Grantors”), in favor of General Electric Capital Corporation
(“GE Capital”), as agent (in such capacity, together with its successors and permitted
assigns, “Agent”) for the Lenders, the L/C Issuers and each other Secured Party (each as
defined in the Credit Agreement referred to below).

RECITALS

A. Pursuant to the Credit Agreement dated as of November 10, 2011 (as the same may be amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by
and among Borrower, Rentech Nitrogen Partners, L.P., a Delaware limited partnership, the other
Persons party thereto that are designated as a “Credit Party”, Agent and Lenders.

B. Each Grantor (other than Borrower) has agreed to guaranty the Obligations (as defined in
the Credit Agreement) of Borrower.

C. Each Grantor will derive substantial direct and indirect benefits from the making of the
extensions of credit under the Credit Agreement.

D. It is a condition precedent to the obligation of the Lenders and the L/C Issuers to make
their respective extensions of credit to Borrower under the Credit Agreement that Grantors shall
have executed and delivered this Agreement to Agent.

AGREEMENT

NOW, THEREFORE, in consideration of the premises and to induce the Lenders, the L/C Issuers
and Agent to enter into the Credit Agreement and to induce the Lenders and the L/C Issuers to make
their respective extensions of credit to Borrower thereunder, each Grantor hereby agrees with Agent
as follows:

ARTICLE 1

DEFINED TERMS

1.1 Definitions.

(a) Capitalized terms used herein without definition are used as defined in the Credit
Agreement.

(b) The following terms have the meanings given to them in the UCC and terms used herein
without definition that are defined in the UCC have the meanings given to them in the UCC (and, if
defined in more than one Article of the UCC, shall have the meaning given in Article 9 thereof and
such meanings to be equally applicable to both the singular and plural forms of the terms defined):
“account,” “account debtor,” “as-extracted collateral,” “certificated
security,” “chattel paper,” “commercial tort claim,” “commodity
contract,” “deposit account,” “document,” “electronic chattel paper,”
“equipment,” “farm products,” “fixture,”
“general intangible,” “goods,” “health-care-insurance receivable,”
“instruments,” “inventory,” “investment property,” “letter-of-credit
right,” “proceeds,” “record,” “securities account,” “security,”
“supporting obligation” and “tangible chattel paper.”

 

 

(c) The following terms shall have the following meanings:

“Agreement” means this Guaranty and Security Agreement.

“Applicable IP Office” means the United States Patent and Trademark Office, the United
States Copyright Office or any similar office or agency within or outside the United States.

“Cash Collateral Account” means a deposit account or securities account subject, in
each instance, to a Control Agreement, other than accounts established to cash collateralize L/C
Reimbursement Obligations.

“Collateral” has the meaning specified in Section 3.1.

“Controlled Securities Account” means each securities account (including all financial
assets held therein and all certificates and instruments, if any, representing or evidencing such
financial assets) that is the subject of an effective Control Agreement.

“Excluded Deposit Accounts” means the following deposit accounts: (a) specifically and
exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of any Grantor’s employees; provided, that the funds on deposit in such deposit account
shall at no time exceed the actual payroll, payroll taxes and other employee wage and benefit
payments then owing by such Grantor; and (b) specifically and exclusively held by Grantor in trust
as permitted under the Credit Agreement.

“Excluded Equity” means any Stock of any Excluded Subsidiary, other than 65% of the
voting Stock and 100% of the non-voting Stock of a First-Tier Foreign Stock Subsidiary. For the
purposes of this definition, “voting stock” means, with respect to any issuer, the issued
and outstanding shares of each class of Stock of such issuer entitled to vote (within the meaning
of Treasury Regulations § 1.956-2(c)(2)).

“Excluded Property” means, collectively, (i) Excluded Equity, (ii) any permit or
license or any Contractual Obligation entered into by any Grantor or any of Grantor’s rights or
interests thereunder (A) that prohibits or requires the consent of any Person other than Borrower
and its Affiliates which has not been obtained as a condition to the creation by such Grantor of a
Lien on any right, title or interest in such permit, license or Contractual Obligation or any Stock
or Stock Equivalent related thereto or (B) to the extent that any Requirement of Law applicable
thereto prohibits the creation of a Lien thereon or (C) to the extent that creation by such Grantor
of a Lien thereon shall constitute or result in the unenforceability of any right of such Grantor
therein or a breach or termination pursuant to the terms of, or a default under, such permit,
license or Contractual Obligationbut only, with respect to the prohibition in (A) (B) and (C), to
the extent, and for as long as, such prohibition is not terminated or rendered unenforceable or
otherwise deemed ineffective by the UCC or any other Requirement of Law, (iii) Property owned by
any Grantor that is subject to a

 

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 purchase money Lien or a Capital Lease permitted
under the Credit Agreement if the Contractual Obligation pursuant to which such Lien is
granted (or in the document providing for such Capital Lease) prohibits or requires the consent of
any Person other than Borrower and its Affiliates which has not been obtained as a condition to the
creation of any other Lien on such equipment, (iv) any “intent to use” Trademark applications for
which a statement of use has not been filed (but only until such statement is filed), (v) the
equity interests in any Person that is not the Borrower, another Grantor, or a Subsidiary of
Borrower or a Guarantor, to the extent and for so long as the grant of the Lien shall constitute or
result in a breach of, or default under, the terms of such Person’s joint venture agreement,
limited liability company agreement, joint operating agreement or similar document (other than to
the extent that any such term would be rendered unenforceable or otherwise deemed ineffective by
the UCC or any other Requirement of Law, and (vi) any carbon credits or similar allowances owned by
any Grantor; provided, that “Excluded Property” shall not include any proceeds,
products, substitutions or replacements of Excluded Property (unless such proceeds, products,
substitutions or replacements would otherwise constitute Excluded Property).

“Guaranteed Obligations” has the meaning set forth in Section 2.1.

“Guarantor” means each Grantor other than Borrower. For the avoidance of doubt, no
Excluded Subsidiary shall be a Guarantor.

“Guaranty” means the guaranty of the Guaranteed Obligations made by the Guarantors as
set forth in this Agreement.

“Internet Domain Name” means all right, title and interest (and all related IP
Ancillary Rights) arising under any Requirement of Law in or relating to Internet domain names.

“Material Intellectual Property” means Intellectual Property that is owned by or
licensed to a Grantor and material to the conduct of any Grantor’s business.

“Pledged Certificated Stock” means all certificated securities and any other Stock or
Stock Equivalent of any Person evidenced by a certificate, instrument or other similar document (as
defined in the UCC), in each case owned by any Grantor, and any distribution of property made on,
in respect of or in exchange for the foregoing from time to time, including all Stock and Stock
Equivalents listed on Schedule 4. Pledged Certificated Stock excludes any Excluded
Property and any Cash Equivalents that are not held in Controlled Securities Accounts to the extent
permitted by Section 5.9.

“Pledged Collateral” means, collectively, the Pledged Stock and the Pledged Debt
Instruments.

“Pledged Debt Instruments” means all right, title and interest of any Grantor in
instruments evidencing any Indebtedness owed to such Grantor or other obligations owed to such
Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing
from time to time, including all Indebtedness described on Schedule 4, issued by the
obligors named therein. Pledged Debt Instruments excludes any Cash Equivalents that are not held
in Controlled Securities Accounts to the extent permitted by Section 5.9.

 

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“Pledged Investment Property” means any investment property of any Grantor, and any
distribution of property made on, in respect of or in exchange for the foregoing from time to time,
other than any Pledged Stock or Pledged Debt Instruments. Pledged Investment Property excludes any
Cash Equivalents that are not held in Controlled Securities Accounts to the extent permitted by
Section 5.9.

“Pledged Stock” means all Pledged Certificated Stock and all Pledged Uncertificated
Stock.

“Pledged Uncertificated Stock” means any Stock or Stock Equivalent of any Person that
is not Pledged Certificated Stock, including all right, title and interest of any Grantor as a
limited or general partner in any partnership not constituting Pledged Certificated Stock or as a
member of any limited liability company not constituting Pledged Certificated Stock, all right,
title and interest of any Grantor in, to and under any Organization Document of any partnership or
limited liability company to which it is a party, and any distribution of property made on, in
respect of or in exchange for the foregoing from time to time, including in each case those
interests set forth on Schedule 4, in each case to the extent such interests do not
constitute Pledged Certificated Stock. Pledged Uncertificated Stock excludes any Excluded Property
and any Cash Equivalents that are not held in Controlled Securities Accounts to the extent
permitted by Section 5.9.

“Software” means (a) all computer programs, including source code and object code
versions, (b) all data, databases and compilations of data, whether machine readable or otherwise,
and (c) all documentation, training materials and configurations related to any of the foregoing.

“UCC” means the Uniform Commercial Code as from time to time in effect in the State of
New York; provided, that, in the event that, by reason of mandatory provisions of any
applicable Requirement of Law, any of the attachment, perfection or priority of Agent’s security
interest in any Collateral is governed by the Uniform Commercial Code of a jurisdiction other than
the State of New York, “UCC” shall mean the Uniform Commercial Code as in effect in such
other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or
priority and for purposes of the definitions related to or otherwise used in such provisions.

“Vehicles” means all vehicles covered by a certificate of title law of any state.

1.2 Certain Other Terms. The meanings given to terms defined herein shall be equally
applicable to both the singular and plural forms of such terms. The terms “herein,” “hereof” and
similar terms refer to this Agreement as a whole and not to any particular Article, Section or
clause in this Agreement. References herein to an Annex, Schedule, Article, Section or clause
refer to the appropriate Annex or Schedule to, or Article, Section or clause in this Agreement.
Where the context requires, provisions relating to any Collateral when used in relation to a
Grantor shall refer to such Grantor’s Collateral or any relevant part thereof.

 

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1.3 Other Interpretive Provisions.

(a) Defined Terms. Unless otherwise specified herein or therein, all terms defined in
this Agreement shall have the defined meanings when used in any certificate or other document made
or delivered pursuant hereto.

(b) The Agreement. The words “hereof,” “herein,” “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement.

(c) Certain Common Terms. The term “including” is not limiting and means “including
without limitation.”

(d) Performance; Time. Whenever any performance obligation hereunder (other than a
payment obligation) shall be stated to be due or required to be satisfied on a day other than a
Business Day, such performance shall be made or satisfied on the next succeeding Business Day. In
the computation of periods of time from a specified date to a later specified date, the word “from”
means “from and including”; the words “to” and “until” each mean “to but excluding,” and the word
“through” means “to and including.” If any provision of this Agreement refers to any action taken
or to be taken by any Person, or which such Person is prohibited from taking, such provision shall
be interpreted to encompass any and all means, direct or indirect, of taking, or not taking, such
action.

(e) Contracts. Unless otherwise expressly provided herein, references to agreements
and other contractual instruments, including this Agreement and the other Loan Documents, shall be
deemed to include all subsequent amendments, thereto, restatements and substitutions thereof and
other modifications and supplements thereto which are in effect from time to time, but only to the
extent such amendments and other modifications are not prohibited by the terms of any Loan
Document.

(f) Laws. References to any statute or regulation are to be construed as including
all statutory and regulatory provisions related thereto or consolidating, amending, replacing,
supplementing or interpreting the statute or regulation.

ARTICLE 2

GUARANTY

2.1 Guaranty. To induce the Lenders to make the Loans, the L/C Issuers to Issue
Letters of Credit and each other Secured Party to make credit available to or for the benefit of
one or more Grantors, each Guarantor hereby, jointly and severally, absolutely, unconditionally and
irrevocably guarantees, as primary obligor and not merely as surety, the full and punctual payment
when due, whether at stated maturity or earlier, by reason of acceleration, mandatory prepayment or
otherwise in accordance with any Loan Document, of all the Obligations of Borrower whether existing
on the date hereof or hereinafter incurred or created (the “Guaranteed Obligations”). This
Guaranty by each Guarantor hereunder constitutes a guaranty of payment and not of collection.

 

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2.2 Limitation of Guaranty. Any term or provision of this Guaranty or any other Loan
Document to the contrary notwithstanding, the maximum aggregate amount for which any Guarantor
shall be liable hereunder shall not exceed the maximum amount for which such
Guarantor can be liable without rendering this Guaranty or any other Loan Document, as it
relates to such Guarantor, subject to avoidance under applicable Requirements of Law relating to
fraudulent conveyance or fraudulent transfer (including the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act and Section 548 of title 11 of the United States Code or any
applicable provisions of comparable Requirements of Law) (collectively, “Fraudulent Transfer
Laws”). Any analysis of the provisions of this Guaranty for purposes of Fraudulent Transfer
Laws shall take into account the right of contribution established in Section 2.3 and, for purposes
of such analysis, give effect to any discharge of intercompany debt as a result of any payment made
under the Guaranty.

2.3 Contribution. To the extent that any Guarantor shall be required hereunder to pay
any portion of any Guaranteed Obligation exceeding the greater of (a) the amount of the value
actually received by such Guarantor and its Subsidiaries from the Loans and other Obligations and
(b) the amount such Guarantor would otherwise have paid if such Guarantor had paid the aggregate
amount of the Guaranteed Obligations (excluding the amount thereof repaid by Borrower) in the same
proportion as such Guarantor’s net worth on the date enforcement is sought hereunder bears to the
aggregate net worth of all the Guarantors on such date, then such Guarantor shall be reimbursed by
such other Guarantors for the amount of such excess, pro rata, based on the respective net worth of
such other Guarantors on such date.

2.4 Authorization; Other Agreements. The Secured Parties are hereby authorized,
without notice to or demand upon any Guarantor and without discharging or otherwise affecting the
obligations of any Guarantor hereunder and without incurring any liability hereunder, from time to
time, to do each of the following:

(a) subject to compliance, if applicable, with Section 9.1 of the Credit Agreement, (i)
modify, amend, supplement or otherwise change, (ii) accelerate or otherwise change the time of
payment or (iii) waive or otherwise consent to noncompliance with, any Guaranteed Obligation or any
Loan Document;

(b) apply to the Guaranteed Obligations any sums by whomever paid or however realized to any
Guaranteed Obligation in such order as provided in the Loan Documents;

(c) refund at any time any payment received by any Secured Party in respect of any Guaranteed
Obligation;

(d) sell, exchange, enforce, waive, substitute, liquidate, terminate, release, abandon, fail
to perfect, subordinate, accept, substitute, surrender, exchange, affect, impair or otherwise alter
or release any Collateral for any Guaranteed Obligation or any other guaranty therefor in any
manner, (ii) receive, take and hold additional Collateral to secure any Guaranteed Obligation,
(iii) add, release or substitute any one or more other Guarantors, makers or endorsers of any
Guaranteed Obligation or any part thereof and (iv) otherwise deal in any manner with Borrower or
any Guarantor, maker or endorser of any Guaranteed Obligation or any part thereof; and

(e) settle, release, compromise, collect or otherwise liquidate the Guaranteed Obligations.

 

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2.5 Guaranty Absolute and Unconditional. Each Guarantor hereby waives and agrees not
to assert any defense, whether arising in connection with or in respect of any of the following or
otherwise, and hereby agrees that its obligations under this Guaranty are irrevocable, absolute and
unconditional and shall not be discharged as a result of or otherwise affected, other than
indefeasible payment in full of the Guaranteed Obligations, by any of the following (which may not
be pleaded and evidence of which may not be introduced in any proceeding with respect to this
Guaranty, in each case except as otherwise agreed in writing by Agent):

(a) the invalidity or unenforceability of any obligation of Borrower or any Guarantor under
any Loan Document or any other agreement or instrument relating thereto (including any amendment,
consent or waiver thereto), or any security for, or other guaranty of, any Guaranteed Obligation or
any part thereof, or the lack of perfection or continuing perfection or failure of priority of any
security for the Guaranteed Obligations or any part thereof;

(b) the absence of (i) any attempt to collect any Guaranteed Obligation or any part thereof
from Borrower or any Guarantor or other action to enforce the same or (ii) any action to enforce
any Loan Document or any Lien thereunder;

(c) the failure by any Person to take any steps to perfect and maintain any Lien on, or to
preserve any rights with respect to, any Collateral;

(d) any workout, insolvency, bankruptcy proceeding, reorganization, arrangement, liquidation
or dissolution by or against Borrower, any Guarantor or any of their respective Subsidiaries or any
procedure, agreement, order, stipulation, election, action or omission thereunder, including any
discharge or disallowance of, or bar or stay against collecting, any Guaranteed Obligation (or any
interest thereon) in or as a result of any such proceeding;

(e) any foreclosure, whether or not through judicial sale, and any other sale or other
disposition of any Collateral or any election following the occurrence of an Event of Default by
any Secured Party to proceed separately against any Collateral in accordance with such Secured
Party’s rights under any applicable Requirement of Law; or

(f) any other defense, setoff, counterclaim or any other circumstance that might otherwise
constitute a legal or equitable discharge of Borrower or any Guarantor, in each case other than the
payment in full of the Guaranteed Obligations.

2.6 Waivers. Each Guarantor hereby unconditionally and irrevocably waives and agrees
not to assert any claim, defense, setoff or counterclaim based on diligence, promptness,
presentment, requirements for any demand or notice hereunder including any of the following: (a)
any demand for payment or performance and protest and notice of protest; (b) any notice of
acceptance; (c) any presentment, demand, protest or further notice or other requirements of any
kind with respect to any Guaranteed Obligation (including any accrued but unpaid interest thereon)
becoming immediately due and payable; and (d) any other notice in respect of any

 

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Guaranteed
Obligation or any part thereof, and any defense arising by reason of any disability or other defense of Borrower or any Guarantor. Until the Guaranteed Obligations have been
indefeasibly paid in full, each Guarantor further unconditionally and irrevocably agrees not to (x)
enforce or otherwise exercise any right of subrogation or any right of reimbursement or
contribution or similar right against Borrower or any Guarantor by reason of any Loan Document or
any payment made thereunder or (y) assert any claim, defense, setoff or counterclaim it may have
against any other Credit Party or set off any of its obligations to such other Credit Party against
obligations of such Credit Party to such Guarantor. No obligation of any Guarantor hereunder shall
be discharged other than by complete performance.

2.7 Reliance. Each Guarantor hereby assumes responsibility for keeping itself
informed of the financial condition of Borrower, each Guarantor and any other guarantor, maker or
endorser of any Guaranteed Obligation or any part thereof, and of all other circumstances bearing
upon the risk of nonpayment of any Guaranteed Obligation or any part thereof that diligent inquiry
would reveal, and each Guarantor hereby agrees that no Secured Party shall have any duty to advise
any Guarantor of information known to it regarding such condition or any such circumstances. In
the event any Secured Party, in its sole discretion, undertakes at any time or from time to time to
provide any such information to any Guarantor, such Secured Party shall be under no obligation to
(a) undertake any investigation not a part of its regular business routine, (b) disclose any
information that such Secured Party, pursuant to accepted or reasonable commercial finance or
banking practices, wishes to maintain confidential or (c) make any future disclosures of such
information or any other information to any Guarantor.

ARTICLE 3

GRANT OF SECURITY INTEREST

3.1 Collateral. For the purposes of this Agreement, all of the following property now
owned or at any time hereafter acquired by a Grantor or in which a Grantor now has or at any time
in the future may acquire any right, title or interests is collectively referred to as the
“Collateral”:

(a) all accounts, chattel paper, deposit accounts, documents, equipment, general intangibles,
instruments, inventory, investment property, letter of credit rights and any supporting obligations
related to any of the foregoing;

(b) the commercial tort claims described on Schedule 1 and on any supplement thereto
received by Agent pursuant to Section 5.8;

(c) all books and records pertaining to the other property described in this Section 3.1;

(d) all property of such Grantor held by any Secured Party, including all property of every
description, in the custody of or in transit to such Secured Party for any purpose, including
safekeeping, collection or pledge, for the account of such Grantor or as to which such Grantor may
have any right or power, including but not limited to cash;

(e) all other goods (including but not limited to fixtures) and personal property of such
Grantor, whether tangible or intangible and wherever located; and

(f) to the extent not otherwise included, all proceeds of the foregoing;

 

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3.2 Grant of Security Interest in Collateral. Each Grantor, as collateral security
for the prompt and complete payment and performance when due (whether at stated maturity, by
acceleration or otherwise) of the Obligations of such Grantor (the “Secured Obligations”),
hereby grants and pledges to Agent for the benefit of the Secured Parties a Lien on and security
interest in, all of its right, title and interest in, to and under the Collateral of such Grantor;
provided, that notwithstanding the foregoing, no Lien or security interest is hereby
granted on or attaches to, and Collateral shall not include, any Excluded Property;
provided further, that if and when any property shall cease to be Excluded
Property, a Lien on and security in such property shall be deemed granted therein.

ARTICLE 4

REPRESENTATIONS AND WARRANTIES

To induce the Lenders, the L/C Issuers and Agent to enter into the Loan Documents, each
Grantor hereby represents and warrants each of the following to Agent, the Lenders, the L/C Issuers
and the other Secured Parties:

4.1 Title; No Other Liens. Except for the Lien granted to Agent pursuant to this
Agreement or under any other Loan Document and other Permitted Liens (except for those Permitted
Liens not permitted to exist on any Collateral), such Grantor owns each item of the Collateral free
and clear of any and all Liens. Such Grantor (a) is the record and beneficial owner of the
Collateral pledged by it hereunder constituting instruments or certificates and (b) has rights in
or the power to transfer each other item of Collateral in which a Lien is granted by it hereunder,
free and clear of any other Lien (other than Permitted Liens).

4.2 Perfection and Priority. The security interest granted pursuant to this Agreement
constitutes a legal and valid perfected security interest in favor of Agent in the following
Collateral, subject to the occurrence of the following: (i) in the case of all Collateral in which
a security interest may be perfected by filing a financing statement under the UCC or filings and
recordings with the United States Copyright Office or the United States Patent and Trademark Office
upon the completion of the filings and other actions specified on Schedule 2 (which, in the
case of all filings and other documents referred to on such schedule, have been delivered to Agent
in completed and duly authorized form); (ii) with respect to any deposit account, the execution of
Control Agreements; (iii) in the case of letter-of-credit rights that are not supporting
obligations of Collateral, the execution of a Contractual Obligation granting control to Agent over
such letter-of-credit rights; and (iv) in the case of electronic chattel paper, the completion of
all steps necessary to grant control to Agent over such electronic chattel paper. Such security
interest shall be prior to all other Liens on the Collateral except for Permitted Liens having
priority over Agent’s Lien by operation of law or permitted pursuant to Section 5.1(a), 5.1(e),
5.1(g), 5.1(h), 5.1(i) or 5.1(k) of the Credit Agreement upon (i) in the case of all Pledged
Certificated Stock, Pledged Debt Instruments and Pledged Investment Property, the delivery thereof
to Agent of such Pledged Certificated Stock, Pledged Debt Instruments and Pledged Investment
Property consisting of instruments and certificates, in each case properly endorsed for transfer to
Agent or in blank, (ii) in the case of all Pledged Investment Property not in certificated form,
the execution of Control Agreements with respect to

 

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such
investment property and (iii) in the case of all other instruments and tangible chattel paper that are not Pledged
Certificated Stock, Pledged Debt Instruments or Pledged Investment Property, the delivery thereof
to Agent of such instruments and tangible chattel paper. All actions required herein or in the
Credit Agreement have been taken by each Grantor necessary or desirable to protect and perfect the
Lien granted hereunder on the Collateral have been duly taken, including (a) establish the Agent’s
“control” within the meaning of Section 9-104 of the UCC over all Deposit Accounts other than
Excluded Deposit Accounts, (b) establish the Agent’s “control” (within the meaning of Section 9-107
of the UCC) over all letter of credit rights that are not supporting obligations of Collateral and
with an aggregate value in excess of $500,000, and (c) establish the Agent’s control (within the
meaning of Section 9-105 of the UCC) over all electronic chattel paper with an aggregate value in
excess of $500,000.

4.3 Locations of Inventory, Equipment and Books and Records. On the date hereof, such
Grantor’s inventory and equipment and books and records concerning the Collateral are kept at the
locations listed on Schedule 3.

4.4 Pledged Collateral.

(a) The Pledged Stock pledged by such Grantor hereunder (a) is listed on Schedule 4
and constitutes that percentage of the issued and outstanding equity of all classes of each issuer
thereof as set forth on Schedule 4, (b) has been duly authorized, validly issued and is
fully paid and nonassessable (other than Pledged Stock in limited liability companies and
partnerships) and (c) constitutes the legal, valid and binding obligation of the obligor with
respect thereto, enforceable in accordance with its terms except as enforceability may be limited
by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’
rights generally or by equitable principles relating to enforceability.

(b) As of the Closing Date, all certificates and instruments evidencing any Pledged Collateral
and all Pledged Investment Property has been delivered to Agent in accordance with Section 5.2(a).

(c) Upon the occurrence and during the continuance of an Event of Default, Agent shall be
entitled to exercise all of the rights of Grantor granting the security interest in any Pledged
Stock, and a transferee or assignee of such Pledged Stock by Agent shall become a holder of such
Pledged Stock to the same extent as such Grantor and be entitled to participate in the management
of the issuer of such Pledged Stock and, upon the transfer of the entire interest of such Grantor,
such Grantor shall, by operation of law, cease to be a holder of such Pledged Stock.

4.5 Instruments and Tangible Chattel Paper Formerly Accounts. No amount payable to
such Grantor under or in connection with any account in excess of $500,000 is evidenced by any
instrument or tangible chattel paper that has not been delivered to Agent, properly endorsed for
transfer, to the extent delivery is required by Section 5.5(a).

 

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4.6 Intellectual Property.

(a) Schedule 5 sets forth, as of the Closing Date, a true and complete list of (i) all
Intellectual Property of such Grantor that (A) is registered or subject to applications for
registration or (B) constitutes licensed Material Intellectual Property, and (ii) all IP
Licenses of such Grantor but excluding any off-the-shelf or “shrink wrap” software.

(b) On the Closing Date, all Material Intellectual Property owned by such Grantor is valid, in
full force and effect, subsisting, unexpired and enforceable, and no Material Intellectual Property
has been abandoned. No breach or default of any material IP License shall be caused by any of the
following, and none of the following shall limit or impair the ownership, use, validity or
enforceability of, or any rights of such Grantor in, any Material Intellectual Property: (i) the
consummation of the transactions contemplated by any Loan Document or (ii) any holding, decision,
judgment or order rendered by any Governmental Authority. There are no pending (or, to the
knowledge of such Grantor, threatened) actions, investigations, suits, proceedings, audits, claims,
demands, orders or disputes challenging the ownership, use, validity, enforceability of, or such
Grantor’s rights in, any Material Intellectual Property of such Grantor. To such Grantor’s
knowledge, no Person has been or is infringing, misappropriating, diluting, violating or otherwise
impairing any Intellectual Property of such Grantor. Such Grantor, and to such Grantor’s knowledge
each other party thereto, is not in material breach or default of any material IP License.

4.7 Commercial Tort Claims. The only commercial tort claims of any Grantor that it is
aware of as of the Closing Date (regardless of whether the amount, defendant or other material
facts can be determined and regardless of whether such commercial tort claim has been asserted,
threatened or has otherwise been made known to the obligee thereof or whether litigation has been
commenced for such claims) with an expected recovery value in excess of $500,000 are those listed
on Schedule 1, which sets forth such information separately for each Grantor.

4.8 Specific Collateral. None of the Collateral is or is proceeds or products of farm
products, as-extracted collateral, health-care-insurance receivables or timber to be cut.

4.9 Enforcement. No Permit, notice to or filing with any Governmental Authority or
any other Person or any consent from any Person is required for the exercise by Agent of its rights
(including voting rights) provided for in this Agreement or the enforcement of remedies in respect
of the Collateral pursuant to this Agreement, including the transfer of any Collateral, except as
may be required in connection with the disposition of any portion of the Pledged Collateral by laws
affecting the offering and sale of securities generally or any approvals that may be required to be
obtained from any bailees or landlords to collect the Collateral.

ARTICLE 5

COVENANTS

Each Grantor agrees with Agent to the following, as long as any Obligation or Commitment
remains outstanding (other than contingent indemnification Obligations to the extent no claim
giving rise thereto has been asserted):

5.1 Maintenance of Perfected Security Interest; Further Documentation and Consents.

(a) Such Grantor shall not use or permit any Collateral to be used unlawfully or in violation
of any provision of any Loan Document, any Related Agreement, any Requirement of Law or any policy
of insurance covering the Collateral.

 

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(b) Such Grantor shall maintain the security interest created by this Agreement as a perfected
security interest having at least the priority described in Section 4.2 and shall defend such
security interest and such priority against the claims and demands of all Persons.

(c) to the extent required hereunder or under the Credit Agreement Such Grantor shall furnish
to Agent from time to time statements and schedules further identifying and describing the
Collateral and such other documents in connection with the Collateral as Agent may reasonably
request, all in reasonable detail and in form and substance satisfactory to Agent.

(d) At any time and from time to time, upon the written request of Agent, such Grantor shall,
for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights
and powers herein granted, (i) promptly and duly execute and deliver, and have recorded, such
further documents, including an authorization to file (or, as applicable, the filing) of any
financing statement or amendment under the UCC (or other filings under similar Requirements of Law)
in effect in any jurisdiction with respect to the security interest created hereby and (ii) only to
the extent required hereunder, take such further action as Agent may reasonably request, including
(A) using its best efforts to secure all approvals necessary or appropriate for the assignment to
or for the benefit of Agent of any Contractual Obligation, including any IP License, held by such
Grantor and to enforce the security interests granted hereunder and (B) executing and delivering
any Control Agreements with respect to deposit accounts and securities accounts.

(e) If requested by Agent after the occurrence and during the continuance of an Event of
Default, Grantor shall arrange for Agent’s first priority security interest to be noted on the
certificate of title of each Vehicle and shall file any other necessary documentation in each
jurisdiction that Agent shall deem advisable to perfect its security interests in any Vehicle.

(f) To ensure that a Lien and security interest is granted on any of the Excluded Property set
forth in clause (ii) of the definition of “Excluded Property,” such Grantor shall use its
commercially reasonable efforts to obtain any required consents from any Person other than Borrower
and its Affiliates with respect to any material permit or license or any material Contractual
Obligation with such Person entered into by such Grantor that requires such consent as a condition
to the creation by such Grantor of a Lien on any right, title or interest in such permit, license
or Contractual Obligation or any Stock or Stock Equivalent related thereto.

5.2 Pledged Collateral.

(a) Delivery of Pledged Collateral. Such Grantor shall (i) deliver to Agent, in
suitable form for transfer and in form and substance satisfactory to Agent, (A) all Pledged
Certificated Stock, (B) all Pledged Debt Instruments and (C) all certificates and instruments
evidencing Pledged Investment Property, with a value in excess of $500,000, and (ii) maintain any
securities account with a value in excess of $100,000 as a Controlled Securities Account.

(b) Event of Default. During the continuance of an Event of Default, Agent shall have
the right, at any time in its discretion and without notice to Grantor, to (i) transfer to or to
register in its name or in the name of its nominees any Pledged Collateral or any Pledged
Investment Property and (ii) exchange any certificate or instrument representing or evidencing
any Pledged Collateral or any Pledged Investment Property for certificates or instruments of
smaller or larger denominations.

 

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(c) Cash Distributions with respect to Pledged Collateral. Except as provided in
Article 6 and subject to the limitations set forth in the Credit Agreement, such Grantor shall be
entitled to receive all cash distributions paid in respect of the Pledged Collateral.

(d) Voting Rights. Except as provided in Article 6, such Grantor shall be entitled to
exercise all voting, consent and corporate, partnership, limited liability company and similar
rights with respect to the Pledged Collateral; provided, that no vote shall be cast,
consent given or right exercised or other action taken by such Grantor that would impair the
Agent’s Lien on the Pledged Collateral or result in any violation of any provision of any Loan
Document.

5.3 Accounts.

(a) Such Grantor shall not, other than in the Ordinary Course of Business or with the consent
of the Agent, (i) grant any extension of the time of payment of any account, (ii) compromise or
settle any account for less than the full amount thereof, (iii) release, wholly or partially, any
Person liable for the payment of any account, (iv) allow any credit or discount on any account or
(v) amend, supplement or modify any account in any manner that would materially and adversely
affect the value thereof.

(b) After the occurrence of an Event of Default, Agent shall have the right to make test
verifications of the Accounts in any manner and through any medium that it reasonably considers
advisable, and such Grantor shall furnish all such assistance and information as Agent may
reasonably require in connection therewith.

5.4 Commodity Contracts. Such Grantor shall use its commercially reasonable efforts
to grant “control” (within the meaning of such term under Article 9-106 of the UCC) to Agent with
respect to any commodity contract (including any Commodity Agreement) or commodity account, in each
case included in the Collateral, in a manner reasonably acceptable to Agent; provided, that
the requirement under this Section 5.4 shall not apply to any commodity contract (including any
Commodity Agreement) or commodity account, as the case may be, having funds or other assets
accredited thereto with a value of less than $250,000 in the aggregate for all Grantors.

5.5 Delivery of Instruments and Tangible Chattel Paper and Control of Investment Property,
Letter-of-Credit Rights and Electronic Chattel Paper.

(a) If any amount in excess of $500,000 payable under or in connection with any Collateral
owned by such Grantor shall be or become evidenced by an instrument or tangible chattel paper
(other than such instrument delivered in accordance with Section 5.2(a)), such Grantor shall mark
any such instrument and tangible chattel paper with the following legend: “This writing and the
obligations evidenced or secured hereby are subject to the security interest of General Electric
Capital Corporation, as Agent” and, at the request of Agent, shall immediately deliver such
instrument or tangible chattel paper to Agent, duly indorsed in a manner satisfactory to Agent.

 

13

 

(b) Such Grantor shall not grant “control” (within the meaning of such term under Article
9-106 of the UCC) over any investment property to any Person other than Agent.

(c) If such Grantor is or becomes the beneficiary of a letter of credit that is (i) not a
supporting obligation of any Collateral and (ii) in excess of $500,000, such Grantor shall
promptly, and in any event within 5 Business Days after becoming a beneficiary, notify Agent
thereof and, at the request and option of the Agent, such Grantor shall use its commercially best
efforts, to enter into a Contractual Obligation in form and substance reasonably satisfactory to
Agent with Agent, the issuer of such letter of credit or any nominated person with respect to the
letter-of-credit rights under such letter of credit pursuant to which the issuer and any nominated
person of such letter of credit shall consent to an assignment to the Agent of the proceeds of such
letter of credit. Such Contractual Obligation shall also direct all payments thereunder to a Cash
Collateral Account. The provisions of such Contractual Obligation shall be in form and substance
reasonably satisfactory to Agent.

(d) If any amount in excess of $500,000 payable under or in connection with any Collateral
owned by such Grantor shall be or become evidenced by electronic chattel paper, such Grantor shall
take all steps necessary to grant Agent control of all such electronic chattel paper for the
purposes of Section 9-105 of the UCC (or any similar section under any equivalent UCC) and all
“transferable records” as defined in each of the Uniform Electronic Transactions Act and
the Electronic Signatures in Global and National Commerce Act.

5.6 Intellectual Property.

(a) Within 30 days after any change to Schedule 5 for any Grantor, such Grantor shall
provide Agent notification thereof and the short-form intellectual property agreements and
assignments as described in this Section 5.6 and any other documents that Agent reasonably requests
with respect thereto.

(b) Such Grantor shall (and shall use commercially reasonable efforts to cause all its
licensees to) (i)(1) continue to use each Trademark included in the Material Intellectual Property
in order to maintain such Trademark in full force and effect with respect to each class of goods
for which such Trademark is currently used, free from any claim of abandonment for non-use, (2)
maintain at least the same standards of quality of products and services offered under such
Trademark as are currently maintained, (3) use such Trademark with the appropriate notice of
registration and all other notices and legends required by applicable Requirements of Law, (4) not
adopt or use any other Trademark that is confusingly similar or a colorable imitation of such
Trademark unless Agent shall obtain a perfected security interest in such other Trademark pursuant
to this Agreement and (ii) not do any act or omit to do any act whereby (w) any Trademark (or any
goodwill associated therewith) may become destroyed, invalidated, impaired or harmed in any way,
(x) any Patent included in the Material Intellectual Property may become forfeited, misused,
unenforceable, abandoned or dedicated to the public, (y) any portion of the Copyrights included in
the Material Intellectual Property may become invalidated, otherwise impaired or fall into the
public domain or (z) any Trade Secret that is Material Intellectual Property may become publicly
available or otherwise unprotectable, in each case except as could not be expected to have a
Material Adverse Effect.

 

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(c) Such Grantor shall notify Agent immediately if it knows that any application or
registration relating to any Material Intellectual Property may become forfeited, misused,
unenforceable, abandoned or dedicated to the public, or of any adverse determination or development
regarding the validity or enforceability or such Grantor’s ownership of, interest in, right to use,
register, own or maintain any Material Intellectual Property (including the institution of, or any
such determination or development in, any proceeding relating to the foregoing in any Applicable IP
Office). Such Grantor shall take all actions that are necessary or reasonably requested by Agent
to maintain and pursue each application (and to obtain the relevant registration or recordation)
and to maintain each registration and recordation included in the Material Intellectual Property.

(d) Such Grantor shall not knowingly do any act or omit to do any act to infringe,
misappropriate, dilute, violate or otherwise impair the Intellectual Property of any other Person.
In the event that any Material Intellectual Property of such Grantor is or has been infringed,
misappropriated, violated, diluted or otherwise impaired by a third party, such Grantor shall take
such action as it reasonably deems appropriate under the circumstances in response thereto,
including promptly bringing suit and recovering all damages therefor.

(e) To the extent necessary to perfect Agents security interest in the Intellectual Property
Collateral, such Grantor shall execute and deliver to Agent in form and substance reasonably
acceptable to Agent and suitable for (i) filing in the Applicable IP Office the short-form
intellectual property security agreements in the form attached hereto as Annex 3 for all
Copyrights, Trademarks, Patents and IP Licenses of such Grantor and (ii) recording with the
appropriate Internet domain name registrar, a duly executed form of assignment for all Internet
Domain Names of such Grantor (together with appropriate supporting documentation as may be
requested by Agent).

5.7 Notices. Such Grantor shall promptly notify Agent in writing of its acquisition
of any interest hereafter in property with a value in excess of $500,000 that is of a type where a
security interest or lien must be or may be registered, recorded or filed under, or notice thereof
given under, any federal statute or regulation.

5.8 Notice of Commercial Tort Claims. Such Grantor agrees that, if it shall become
aware of its acquisition of any interest in any commercial tort claim with a expected recovery
value in excess of $500,000 (whether from another Person or because such commercial tort claim
shall have come into existence), (i) such Grantor shall, within 5 Business Days upon such
acquisition, deliver to Agent, in each case in form and substance satisfactory to Agent, a notice
of the existence and nature of such commercial tort claim and a supplement to Schedule 1
containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to
such commercial tort claim and (iii) such Grantor shall execute and deliver to Agent, in each case
in form and substance satisfactory to Agent, any document, and take all other action, deemed by
Agent to be reasonably necessary or appropriate for Agent to obtain, on behalf of the Lenders, a
perfected security interest having at least the priority set forth in Section 4.2 in all such
commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this
Section 5.8 shall, after the receipt thereof by Agent, become part of Schedule 1
for all purposes hereunder other than in respect of representations and warranties made prior to
the date of such receipt.

 

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ARTICLE 6

REMEDIAL PROVISIONS

6.1 Code and Other Remedies.

(a) UCC Remedies. During the continuance of an Event of Default, Agent may exercise,
in addition to all other rights and remedies granted to it in this Agreement and in any other
instrument or agreement securing, evidencing or relating to any Secured Obligation, all rights and
remedies of a secured party under the UCC or any other applicable law.

(b) Disposition of Collateral. Without limiting the generality of the foregoing,
Agent may, without demand of performance or other demand, presentment, protest, advertisement or
notice of any kind (except any notice required by Requirements of Law) to or upon any Grantor or
any other Person (all and each of which demands, defenses, advertisements and notices are hereby
waived), during the continuance of any Event of Default (personally or through its agents or
attorneys), (i) enter upon the premises where any Collateral is located, without any obligation to
pay rent, through self-help, without judicial process, without first obtaining a final judgment or
giving any Grantor or any other Person notice or opportunity for a hearing on Agent’s claim or
action, (ii) collect, receive, appropriate and realize upon any Collateral and (iii) sell, assign,
convey, transfer, grant option or options to purchase and deliver any Collateral (enter into
Contractual Obligations to do any of the foregoing), in one or more parcels at public or private
sale or sales, at any exchange, broker’s board or office of any Secured Party or elsewhere upon
such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash
or on credit or for future delivery without assumption of any credit risk. Agent shall have the
right, upon any such public sale or sales and, to the extent permitted by the UCC and other
applicable Requirements of Law, upon any such private sale, to purchase the whole or any part of
the Collateral so sold, free of any right or equity of redemption of any Grantor, which right or
equity is hereby waived and released.

(c) Management of the Collateral. Each Grantor further agrees, that, during the
continuance of any Event of Default, (i) at Agent’s request, it shall assemble the Collateral and
make it available to Agent at places that Agent shall reasonably select, whether at such Grantor’s
premises or elsewhere, (ii) without limiting the foregoing, Agent also has the right to require
that each Grantor store and keep any Collateral pending further action by Agent and, while any such
Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary
to protect the same and to preserve and maintain such Collateral in good condition, (iii) until
Agent is able to sell, assign, convey or transfer any Collateral, Agent shall have the right to
hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving
the Collateral or its value and (iv) Agent may, if it so elects, seek the appointment of a receiver
or keeper to take possession of any Collateral and to enforce any of Agent’s remedies (for the
benefit of the Secured Parties), with respect to such appointment without prior notice or hearing
as to such appointment. Agent shall not have any obligation to any Grantor to maintain or preserve
the rights of any Grantor as against third parties with respect to any Collateral while such
Collateral is in the possession of Agent.

 

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(d) Application of Proceeds. Agent shall apply the cash proceeds of any action taken
by it pursuant to this Section 6.1, after deducting all reasonable costs and expenses
of every kind incurred in connection therewith or incidental to the care or safekeeping of any
Collateral or in any way relating to the Collateral or the rights of Agent and any other Secured
Party hereunder, including reasonable attorneys’ fees and disbursements, to the payment in whole or
in part of the Secured Obligations, as set forth in the Credit Agreement, and only after such
application and after the payment by Agent of any other amount required by any Requirement of Law,
need Agent account for the surplus, if any, to any Grantor.

(e) Direct Obligation. Neither Agent nor any other Secured Party shall be required to
make any demand upon, or pursue or exhaust any right or remedy against, any Grantor, any other
Credit Party or any other Person with respect to the payment of the Obligations or to pursue or
exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect
guaranty thereof. All of the rights and remedies of Agent and any other Secured Party under any
Loan Document shall be cumulative, may be exercised individually or concurrently and not exclusive
of any other rights or remedies provided by any Requirement of Law. To the extent it may lawfully
do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage
of, and covenants not to assert against Agent or any other Secured Party, any valuation, stay,
appraisement, extension, redemption or similar laws and any and all rights or defenses it may have
as a surety, now or hereafter existing, arising out of the exercise by them of any rights
hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be
required by law, such notice shall be deemed reasonable and proper if given at least 10 days before
such sale or other disposition.

(f) Commercially Reasonable. To the extent that applicable Requirements of Law impose
duties on Agent to exercise remedies in a commercially reasonable manner, each Grantor acknowledges
and agrees that it is not commercially unreasonable for Agent to do any of the following:

(i) fail to incur significant costs, expenses or other Liabilities reasonably deemed as
such by Agent to prepare any Collateral for disposition or otherwise to complete raw
material or work in process into finished goods or other finished products for disposition;

(ii) fail to obtain Permits, or other consents, for access to any Collateral to sell or
for the collection or sale of any Collateral, or, if not required by other Requirements of
Law, fail to obtain Permits or other consents for the collection or disposition of any
Collateral;

(iii) fail to exercise remedies against account debtors or other Persons obligated on
any Collateral or to remove Liens on any Collateral or to remove any adverse claims against
any Collateral;

(iv) advertise dispositions of any Collateral through publications or media of general
circulation, whether or not such Collateral is of a specialized nature, or to contact other
Persons, whether or not in the same business as any Grantor, for expressions of interest in
acquiring any such Collateral;

 

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(v) exercise collection remedies against account debtors and other Persons obligated on
any Collateral, directly or through the use of collection agencies or other collection
specialists, hire one or more professional auctioneers to assist in the disposition of any
Collateral, whether or not such Collateral is of a specialized nature, or, to the extent
deemed appropriate by Agent, obtain the services of other brokers, investment bankers,
consultants and other professionals to assist Agent in the collection or disposition of any
Collateral, or utilize Internet sites that provide for the auction of assets of the types
included in the Collateral or that have the reasonable capacity of doing so, or that match
buyers and sellers of assets to dispose of any Collateral;

(vi) dispose of assets in wholesale rather than retail markets;

(vii) disclaim disposition warranties, such as title, possession or quiet enjoyment; or

(viii) purchase insurance or credit enhancements to insure Agent against risks of loss,
collection or disposition of any Collateral or to provide to Agent a guaranteed return from
the collection or disposition of any Collateral.

Each Grantor acknowledges that the purpose of this Section 6.1 is to provide a non-exhaustive list
of actions or omissions that are commercially reasonable when exercising remedies against any
Collateral and that other actions or omissions by the Secured Parties shall not be deemed
commercially unreasonable solely on account of not being indicated in this Section 6.1. Without
limitation upon the foregoing, nothing contained in this Section 6.1 shall be construed to grant
any rights to any Grantor or to impose any duties on Agent that would not have been granted or
imposed by this Agreement or by applicable Requirements of Law in the absence of this Section 6.1.

(g) IP Licenses. For the purpose of enabling Agent to exercise rights and remedies
under this Section 6.1 (including in order to take possession of, collect, receive, assemble,
process, appropriate, remove, realize upon, sell, assign, convey, transfer or grant options to
purchase any Collateral) at such time as Agent shall be lawfully entitled to exercise such rights
and remedies, each Grantor hereby grants to Agent, for the benefit of the Secured Parties, (i) an
irrevocable, nonexclusive, worldwide license (exercisable without payment of royalty or other
compensation to such Grantor), including in such license the right to sublicense, use and practice
any Intellectual Property now owned or hereafter acquired by such Grantor and access to all media
in which any of the licensed items may be recorded or stored and to all Software and programs used
for the compilation or printout thereof and (ii) an irrevocable license (without payment of rent or
other compensation to such Grantor) to use, operate and occupy all real Property owned, operated,
leased, subleased or otherwise occupied by such Grantor; in each case only to the extent required
for the Agent to exercise its rights and remedies under this Section 6.1 or under the Credit
Agreement.

 

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6.2 Accounts and Payments in Respect of General Intangibles.

(a) In addition to, and not in substitution for, any similar requirement in the Credit
Agreement, if required by Agent at any time during the continuance of an Event of
Default, any payment of accounts or payment in respect of general intangibles, when collected
by any Grantor, shall be promptly (and, in any event, within 2 Business Days) deposited by such
Grantor in the exact form received, duly indorsed by such Grantor to Agent, in a Cash Collateral
Account, subject to withdrawal by Agent as provided in Section 6.4. Until so turned over, such
payment shall be held by such Grantor in trust for Agent, segregated from other funds of such
Grantor. Each such deposit of proceeds of accounts and payments in respect of general intangibles
shall be accompanied by a report identifying in reasonable detail the nature and source of the
payments included in the deposit.

(b) At any time during the continuance of an Event of Default:

(i) each Grantor shall, upon Agent’s request, deliver to Agent all original and other
documents evidencing, and relating to, the Contractual Obligations and transactions that
gave rise to any account or any payment in respect of general intangibles, including all
original orders, invoices and shipping receipts and notify account debtors that the accounts
or general intangibles have been collaterally assigned to Agent and that payments in respect
thereof shall be made directly to Agent;

(ii) Agent may, without notice, at any time during the continuance of an Event of
Default, limit or terminate the authority of a Grantor to collect its accounts or amounts
due under general intangibles or any thereof and, in its own name or in the name of others,
communicate with account debtors to verify with them to Agent’s satisfaction the existence,
amount and terms of any account or amounts due under any general intangible. In addition,
Agent may at any time enforce such Grantor’s rights against such account debtors and
obligors of general intangibles to the extent permitted by law; and

(iii) each Grantor shall take all actions, deliver all documents and provide all
information necessary or reasonably requested by Agent to ensure any Internet Domain Name is
registered.

(c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under
each account and each payment in respect of general intangibles to observe and perform all the
conditions and obligations to be observed and performed by it thereunder, all in accordance with
the terms of any agreement giving rise thereto. No Secured Party shall have any obligation or
liability under any agreement giving rise to an account or a payment in respect of a general
intangible by reason of or arising out of any Loan Document or the receipt by any Secured Party of
any payment relating thereto, nor shall any Secured Party be obligated in any manner to perform any
obligation of any Grantor under or pursuant to any agreement giving rise to an account or a payment
in respect of a general intangible, to make any payment, to make any inquiry as to the nature or
the sufficiency of any payment received by it or as to the sufficiency of any performance by any
party thereunder, to present or file any claim, to take any action to enforce any performance or to
collect the payment of any amounts that may have been assigned to it or to which it may be entitled
at any time or times.

 

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6.3 Pledged Collateral.

(a) Voting Rights. During the continuance of an Event of Default, upon notice by
Agent to the relevant Grantor or Grantors, Agent or its nominee may exercise (A) any voting,
consent, corporate and other right pertaining to the Pledged Collateral at any meeting of
shareholders, partners or members, as the case may be, of the relevant issuer or issuers of Pledged
Collateral or otherwise and (B) any right of conversion, exchange and subscription and any other
right, privilege or option pertaining to the Pledged Collateral as if it were the absolute owner
thereof (including the right to exchange at its discretion any Pledged Collateral upon the merger,
amalgamation, consolidation, reorganization, recapitalization or other fundamental change in the
corporate or equivalent structure of any issuer of Pledged Stock, the right to deposit and deliver
any Pledged Collateral with any committee, depositary, transfer agent, registrar or other
designated agency upon such terms and conditions as Agent may determine), all without liability
except to account for property actually received by it; provided, however, that
Agent shall have no duty to any Grantor to exercise any such right, privilege or option and shall
not be responsible for any failure to do so or delay in so doing.

(b) Proxies. In order to permit Agent to exercise the voting and other consensual
rights that it may be entitled to exercise pursuant hereto and to receive all dividends and other
distributions that it may be entitled to receive hereunder, (i) each Grantor shall promptly execute
and deliver (or cause to be executed and delivered) to Agent all such proxies, dividend payment
orders and other instruments as Agent may from time to time reasonably request and (ii) without
limiting the effect of clause (i) above, such Grantor hereby grants to Agent an irrevocable proxy
to vote all or any part of the Pledged Collateral and to exercise all other rights, powers,
privileges and remedies to which a holder of the Pledged Collateral would be entitled (including
giving or withholding written consents of shareholders, partners or members, as the case may be,
calling special meetings of shareholders, partners or members, as the case may be, and voting at
such meetings), which proxy shall be effective, automatically and without the necessity of any
action (including any transfer of any Pledged Collateral on the record books of the issuer thereof)
by any other person (including the issuer of such Pledged Collateral or any officer or agent
thereof) during the continuance of an Event of Default and which proxy shall only terminate upon
the payment in full of the Secured Obligations (other than contingent indemnification obligations
to the extent no claim giving rise thereto has been asserted).

(c) Authorization of Issuers. Each Grantor hereby expressly and irrevocably
authorizes and instructs, without any further instructions from such Grantor, each issuer of any
Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by
it from Agent in writing that states that an Event of Default is continuing and is otherwise in
accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully
protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly
permitted hereby or the Credit Agreement, each issuer of any Pledged Collateral to pay any dividend
or make any other payment with respect to the Pledged Collateral directly to Agent.

6.4 Proceeds to be Turned over to and Held by Agent. Unless otherwise expressly
provided in the Credit Agreement or this Agreement, all proceeds of any Collateral received by any
Grantor hereunder in cash or Cash Equivalents shall be held by such Grantor in trust for Agent and
the other Secured Parties, segregated from other funds of such Grantor, and shall,
promptly upon receipt by any Grantor, be turned over to Agent in the exact form received (with
any necessary endorsement). All such proceeds of Collateral and any other proceeds of any
Collateral received by Agent in cash or Cash Equivalents shall be held by Agent in a Cash
Collateral Account. All proceeds being held by Agent in a Cash Collateral Account (or by such
Grantor in trust for Agent) shall continue to be held as collateral security for the Secured
Obligations and shall not constitute payment thereof until applied as provided in the Credit
Agreement.

 

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6.5 Sale of Pledged Collateral.

(a) Each Grantor recognizes that Agent may be unable to effect a public sale of any Pledged
Collateral by reason of certain prohibitions contained in the Securities Act and applicable state
or foreign securities laws or otherwise or may determine that a public sale is impracticable, not
desirable or not commercially reasonable and, accordingly, may resort to one or more private sales
thereof to a restricted group of purchasers that shall be obliged to agree, among other things, to
acquire such securities for their own account for investment and not with a view to the
distribution or resale thereof. Each Grantor acknowledges and agrees that any such private sale
may result in prices and other terms less favorable than if such sale were a public sale and,
notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been
made in a commercially reasonable manner. Agent shall be under no obligation to delay a sale of
any Pledged Collateral for the period of time necessary to permit the issuer thereof to register
such securities for public sale under the Securities Act or under applicable state securities laws
even if such issuer would agree to do so.

(b) Each Grantor agrees to use its best efforts to do or cause to be done all such other acts
as may be necessary to make such sale or sales of any portion of the Pledged Collateral pursuant to
Section 6.1 and this Section 6.5 valid and binding and in compliance with all applicable
Requirements of Law. Each Grantor further agrees that a breach of any covenant contained herein
will cause irreparable injury to Agent and other Secured Parties, that Agent and the other Secured
Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each
and every covenant contained herein shall be specifically enforceable against such Grantor, and
such Grantor hereby waives and agrees not to assert any defense against an action for specific
performance of such covenants except for a defense that no Event of Default has occurred under the
Credit Agreement. Each Grantor waives any and all rights of contribution or subrogation upon the
sale or disposition of all or any portion of the Pledged Collateral by Agent.

6.6 Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds
of any sale or other disposition of any Collateral are insufficient to pay the Secured Obligations
and the fees and disbursements of any attorney employed by Agent or any other Secured Party to
collect such deficiency.

 

21

 

ARTICLE 7

AGENT

7.1 Agent’s Appointment as Attorney-in-Fact.

(a) Each Grantor hereby irrevocably constitutes and appoints Agent and any Related Person
thereof, with full power of substitution, as its true and lawful attorney-in-fact with full
irrevocable power and authority in the place and stead of such Grantor and in the name of such
Grantor or in its own name, for the purpose of carrying out the terms of the Loan Documents, to
take any appropriate action and to execute any document or instrument that may be necessary or
desirable to carry out the terms of the Loan Documents at any time after and during the continuance
of an Event of Default, and, without limiting the generality of the foregoing, each Grantor hereby
gives Agent and its Related Persons the power and right, on behalf of such Grantor, without notice
to or assent by such Grantor, to do any of the following when an Event of Default shall be
continuing:

(i) in the name of such Grantor, in its own name or otherwise, take possession of and
indorse and collect any check, draft, note, acceptance or other instrument for the payment
of moneys due under any account or general intangible or with respect to any other
Collateral and file any claim or take any other action or proceeding in any court of law or
equity or otherwise deemed appropriate by Agent for the purpose of collecting any such
moneys due under any account or general intangible or with respect to any other Collateral
whenever payable;

(ii) in the case of any Intellectual Property owned by or licensed to Grantors,
execute, deliver and have recorded any document that Agent may request to evidence, effect,
publicize or record Agent’s security interest in such Intellectual Property and the goodwill
and general intangibles of such Grantor relating thereto or represented thereby;

(iii) pay or discharge taxes and Liens levied or placed on or threatened against any
Collateral, effect any repair or pay any insurance called for by the terms of the Credit
Agreement (including all or any part of the premiums therefor and the costs thereof);

(iv) execute, in connection with any sale provided for in Section 6.1 or 6.5, any
document to effect or otherwise necessary or appropriate in relation to evidence the sale of
any Collateral; or

(v) (A) direct any party liable for any payment under any Collateral to make payment of
any moneys due or to become due thereunder directly to Agent or as Agent shall direct, (B)
ask or demand for, and collect and receive payment of and receipt for, any moneys, claims
and other amounts due or to become due at any time in respect of or arising out of any
Collateral, (C) sign and indorse any invoice, freight or express bill, bill of lading,
storage or warehouse receipt, draft against debtors, assignment, verification, notice and
other document in connection with any Collateral, (D) commence and prosecute any suit,
action or proceeding at law or in equity in any court of competent jurisdiction to collect
any Collateral and to enforce any other right in respect of any Collateral, (E) defend any
actions, suits, proceedings, audits, claims, demands, orders or disputes brought against
such Grantor with respect to any Collateral, (F) settle, compromise or adjust any such
actions, suits, proceedings, audits, claims, demands, orders or disputes and, in connection
therewith, give such discharges or releases as Agent
may deem appropriate, (G) assign any Intellectual Property owned by Grantors or any IP
Licenses of Grantors throughout the world on such terms and conditions and in such manner as
Agent shall in its sole discretion determine, including the execution and filing of any
document necessary to effectuate or record such assignment and (H) generally, sell, assign,
convey, transfer or grant a Lien on, make any Contractual Obligation with respect to and
otherwise deal with, any Collateral as fully and completely as though Agent were the
absolute owner thereof for all purposes and do, at Agent’s option, at any time or from time
to time, all acts and things that Agent deems necessary to protect, preserve or realize upon
any Collateral and the Secured Parties’ security interests therein and to effect the intent
of the Loan Documents, all as fully and effectively as such Grantor might do.

(vi) If any Grantor fails to perform or comply with any Contractual Obligation
contained herein, Agent, at its option, but without any obligation so to do, may perform or
comply, or otherwise cause performance or compliance, with such Contractual Obligation.

 

22

 

(b) The expenses of Agent incurred in connection with actions undertaken as provided in this
Section 7.1, together with interest thereon at a rate set forth in subsection 1.3(c) of the
Credit Agreement, from the date of payment by Agent to the date reimbursed by the relevant Grantor,
shall be payable by such Grantor to Agent on demand.

(c) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue of this Section 7.1. All powers, authorizations and agencies contained in this Agreement
are coupled with an interest and are irrevocable until this Agreement is terminated and the
security interests created hereby are released.

7.2 Authorization to File Financing Statements. Each Grantor authorizes Agent and its
Related Persons, at any time and from time to time, to file or record financing statements,
amendments thereto, and other filing or recording documents or instruments with respect to any
Collateral in such form and in such offices as Agent reasonably determines appropriate to perfect
the security interests of Agent under this Agreement, and such financing statements and amendments
may described the Collateral covered thereby as “all assets of the debtor” or such other
description of similar meaning. A photographic or other reproduction of this Agreement shall be
sufficient as a financing statement or other filing or recording document or instrument for filing
or recording in any jurisdiction. Such Grantor also hereby ratifies its authorization for Agent to
have filed any initial financing statement or amendment thereto under the UCC (or other similar
laws) in effect in any jurisdiction if filed prior to the date hereof.

7.3 Authority of Agent. Each Grantor acknowledges that the rights and
responsibilities of Agent under this Agreement with respect to any action taken by Agent or the
exercise or non-exercise by Agent of any option, voting right, request, judgment or other right or
remedy provided for herein or resulting or arising out of this Agreement shall, as between Agent
and the other Secured Parties, be governed by the Credit Agreement and by such other agreements
with respect thereto as may exist from time to time among them, but, as between Agent and Grantors,
Agent shall be conclusively presumed to be acting as agent for the Secured
Parties with full and valid authority so to act or refrain from acting, and no Grantor shall
be under any obligation or entitlement to make any inquiry respecting such authority.

 

23

 

7.4 Duty; Obligations and Liabilities.

(a) Duty of Agent. Agent’s sole duty with respect to the custody, safekeeping and
physical preservation of the Collateral in its possession shall be to deal with it in the same
manner as Agent deals with similar property for its own account. The powers conferred on Agent
hereunder are solely to protect Agent’s interest in the Collateral and shall not impose any duty
upon Agent to exercise any such powers. Agent shall be accountable only for amounts that it
receives as a result of the exercise of such powers, and neither it nor any of its Related Persons
shall be responsible to any Grantor for any act or failure to act hereunder, except for their own
gross negligence or willful misconduct as finally determined by a court of competent jurisdiction.
In addition, Agent shall not be liable or responsible for any loss or damage to any Collateral, or
for any diminution in the value thereof, by reason of the act or omission of any warehousemen,
carrier, forwarding agency, consignee or other bailee if such Person has been selected by Agent in
good faith.

(b) Obligations and Liabilities with respect to Collateral. No Secured Party and no
Related Person thereof shall be liable for failure to demand, collect or realize upon any
Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise
dispose of any Collateral upon the request of any Grantor or any other Person or to take any other
action whatsoever with regard to any Collateral. The powers conferred on Agent hereunder shall not
impose any duty upon any other Secured Party to exercise any such powers. The other Secured
Parties shall be accountable only for amounts that they actually receive as a result of the
exercise of such powers, and neither they nor any of their respective officers, directors,
employees or agents shall be responsible to any Grantor for any act or failure to act hereunder,
except for their own gross negligence or willful misconduct as finally determined by a court of
competent jurisdiction.

ARTICLE 8

MISCELLANEOUS

8.1 Reinstatement. Each Grantor agrees that, if any payment made by any Credit Party
or other Person and applied to the Secured Obligations is at any time annulled, avoided, set aside,
rescinded, invalidated, declared to be fraudulent or preferential or otherwise required to be
refunded or repaid, or the proceeds of any Collateral are required to be returned by any Secured
Party to such Credit Party, its estate, trustee, receiver or any other party, including any
Grantor, under any bankruptcy law, state or federal law, common law or equitable cause, then, to
the extent of such payment or repayment, any Lien or other Collateral securing such liability shall
be and remain in full force and effect, as fully as if such payment had never been made. If, prior
to any of the foregoing, (a) any Lien or other Collateral securing such Grantor’s liability
hereunder shall have been released or terminated by virtue of the foregoing or (b) any provision of
the Guaranty hereunder shall have been terminated, cancelled or surrendered, such Lien, other
Collateral or provision shall be reinstated in full force and effect and such prior release,
termination, cancellation or surrender shall not diminish, release, discharge, impair or otherwise
affect the obligations of any such Grantor in respect of any Lien or other Collateral securing
such obligation or the amount of such payment.

 

24

 

8.2 Release of Collateral.

(a) At the time provided in Section 8.10(b)(iii) of the Credit Agreement, the Collateral shall
be released from the Lien created hereby and this Agreement and all obligations (other than those
expressly stated to survive such termination) of Agent and each Grantor hereunder shall terminate,
all without delivery of any instrument or performance of any act by any party, and all rights to
the Collateral shall revert to Grantors. Each Grantor is hereby authorized to file UCC amendments
at such time evidencing the termination of the Liens so released. At the request of any Grantor
following any such termination, Agent shall deliver to such Grantor any Collateral of such Grantor
held by Agent hereunder and execute and deliver to such Grantor such documents as such Grantor
shall reasonably request to evidence such termination.

(b) If Agent shall be directed or permitted pursuant to subsection 8.10(b) of the Credit
Agreement to release any Lien or any Collateral, such Collateral shall be released from the Lien
created hereby to the extent provided under, and subject to the terms and conditions set forth in,
subsection 8.10(b). In connection therewith, Agent, at the request of any Grantor, shall execute
and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence
such release.

(c) At the time provided in subsection 8.10(b) of the Credit Agreement and at the request of
Borrower, a Grantor shall be released from its obligations hereunder in the event that all the
Stock and Stock Equivalents of such Grantor shall be sold to any Person that is not an Affiliate of
Holdings, Borrower or the Subsidiaries of Borrower in a transaction permitted by the Loan
Documents. In connection therewith, Agent, at the request of such Grantor, shall execute and
deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such
release.

8.3 Independent Obligations. The obligations of each Grantor hereunder are
independent of and separate from the Secured Obligations and the Guaranteed Obligations. If any
Secured Obligation or Guaranteed Obligation is not paid when due, or upon any Event of Default,
Agent may, at its sole election, proceed directly and at once, without notice, against any Grantor
and any Collateral to collect and recover the full amount of any Secured Obligation or Guaranteed
Obligation then due, without first proceeding against any other Grantor, any other Credit Party or
any other Collateral and without first joining any other Grantor or any other Credit Party in any
proceeding.

8.4 No Waiver by Course of Conduct. No Secured Party shall by any act (except by a
written instrument pursuant to Section 8.5), delay, indulgence, omission or otherwise be deemed to
have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default.
No failure to exercise, nor any delay in exercising, on the part of any Secured Party, any right,
power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of
any right, power or privilege hereunder shall preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. A waiver by any Secured Party of
any right or remedy hereunder on any one occasion shall not be construed as a bar to any right
or remedy that such Secured Party would otherwise have on any future occasion.

 

25

 

8.5 Amendments in Writing. None of the terms or provisions of this Agreement may be
waived, amended, supplemented or otherwise modified except in accordance with Section 9.1 of the
Credit Agreement; provided, however, that annexes to this Agreement may be supplemented (but no
existing provisions may be modified and no Collateral may be released) through Pledge Amendments
and Joinder Agreements, in substantially the form of Annex 1 and Annex 2,
respectively, in each case duly executed by Agent and each Grantor directly affected thereby.

8.6 Additional Grantors; Additional Pledged Collateral.

(a) Joinder Agreements. If, at the option of Borrower or as required pursuant to
Section 4.13 of the Credit Agreement, Borrower shall cause any Subsidiary that is not a Grantor to
become a Grantor hereunder, such Subsidiary shall execute and deliver to Agent a Joinder Agreement
substantially in the form of Annex 2 and shall thereafter for all purposes be a party
hereto and have the same rights, benefits and obligations as a Grantor party hereto on the Closing
Date.

(b) Pledge Amendments. To the extent any Pledged Collateral has not been delivered as
of the Closing Date, such Grantor shall deliver a pledge amendment duly executed by Grantor in
substantially the form of Annex 1 (each, a “Pledge Amendment”). Such Grantor
authorizes Agent to attach each Pledge Amendment to this Agreement.

8.7 Notices. All notices, requests and demands to or upon Agent or any Grantor
hereunder shall be effected in the manner provided for in Section 9.2 of the Credit Agreement;
provided, however, that any such notice, request or demand to or upon any Grantor shall be
addressed to Borrower’s notice address set forth in Section 9.2 of the Credit Agreement.

8.8 Successors and Assigns. This Agreement shall be binding upon the successors and
assigns of each Grantor and shall inure to the benefit of each Secured Party and their successors
and assigns; provided, however, that no Grantor may assign, transfer or delegate any of its rights
or obligations under this Agreement without the prior written consent of Agent.

8.9 Counterparts. This Agreement may be executed in any number of counterparts and by
different parties in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. Signature
pages may be detached from multiple separate counterparts and attached to a single counterpart.
Delivery of an executed signature page of this Agreement by facsimile transmission or by Electronic
Transmission shall be as effective as delivery of a manually executed counterpart hereof.

8.10 Severability. Any provision of this Agreement being held illegal, invalid or
unenforceable in any jurisdiction shall not affect any part of such provision not held illegal,
invalid or unenforceable, any other provision of this Agreement or any part of such provision in
any other jurisdiction.

 

26

 

8.11 Governing Law. This Agreement and the rights and obligations of the parties
hereto shall be governed by, and construed and interpreted in accordance with, the law of the State
of New York.

8.12 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES TRIAL BY JURY
IN ANY SUIT, ACTION OR PROCEEDING WITH RESPECT TO, OR DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER
OR IN CONNECTION WITH, ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREIN OR RELATED
THERETO (WHETHER FOUNDED IN CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES
THAT NO OTHER PARTY AND NO RELATED PERSON OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8.12.

EACH GRANTOR AGREES TO BE BOUND BY THE PROVISIONS OF SECTIONS 9.18(b) AND 9.18(c) OF THE
CREDIT AGREEMENT.

8.13 No Recourse. The parties hereto hereby acknowledge and agree that neither the GP
nor any director, officer, employee, limited partner or shareholder of the Partnership or the GP
shall have any liability in respect of the obligations of the Grantors under this Agreement and the
other Loan Documents by reason of his, her or its status.

[signature pages follow]

 

27

 

IN WITNESS WHEREOF, each of the undersigned has caused this Guaranty and Security Agreement to
be duly executed and delivered as of the date first above written.

	 	 	 	 	 
	 	“Grantors”

RENTECH NITROGEN, LLC

 	 
	 	By:  	/s/ Dan J. Cohrs
 	 
	 	 	Name:  	Dan J. Cohrs 	 
	 	 	Title:  	Vice President & Treasurer 	 
	 
	 	RENTECH NITROGEN PARTNERS, L.P.

 	 
	 	By:  	Colin M. Morris
 	 
	 	 	Name:  	Colin M. Morris 	 
	 	 	Title:  	Senior Vice President & General
Counsel 	 

ACCEPTED AND AGREED

“Agent”

GENERAL ELECTRIC CAPITAL CORPORATION

	 	 	 	 	 

	By:

	 	/s/ Scott James Lorimer
 

Name: Scott James Lorimer
	 	 
	 

	 	Title:   Duly Authorized Signatory	 	 

[Signature Page to Guaranty and Security Agreement]

 

2

 

ANNEX 1

TO

GUARANTY AND SECURITY AGREEMENT1

FORM OF PLEDGE AMENDMENT

This Pledge Amendment, dated as of_____, 20_____, is delivered pursuant to Section
8.6 of the Guaranty and Security Agreement, dated as of November [_____], 2011, by RENTECH
NITROGEN, LLC (the “Borrower”), the undersigned Grantor and the other Persons from time to
time party thereto as Grantors in favor of General Electric Capital Corporation, as Agent for the
Secured Parties referred to therein (s such agreement may be amended, restated, supplemented or
otherwise modified from time to time, the “Guaranty and Security Agreement”). Capitalized
terms used herein without definition are used as defined in the Guaranty and Security Agreement.

The undersigned hereby agrees that this Pledge Amendment may be attached to the Guaranty and
Security Agreement and that the Pledged Collateral listed on Annex 1-A to this Pledge
Amendment shall be and become part of the Collateral referred to in the Guaranty and Security
Agreement and shall secure all Obligations of the undersigned.

The undersigned hereby represents and warrants that each of the representations and warranties
contained in Sections 4.1, 4.2, 4.3 and 4.8 of the Guaranty and
Security Agreement is true and correct and as of the date hereof as if made on and as of such date.

	 	 	 	 	 
	 	[GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

	 	 	 
	 	 	To be used for pledge of Additional Pledged Collateral by existing Grantor.

 

A1-1

 

Annex 1-A

 PLEDGED STOCK

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NUMBER OF	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	SHARES,	 
	 	 	 	 	 	 	CERTIFICATE	 	 	 	 	 	 	UNITS OR	 
	ISSUER	 	CLASS	 	 	NO(S).	 	 	PAR VALUE	 	 	INTERESTS	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 PLEDGED DEBT INSTRUMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	DESCRIPTION	 	 	CERTIFICATE	 	 	FINAL	 	 	PRINCIPAL	 
	ISSUER	 	OF DEBT	 	 	NO(S).	 	 	MATURITY	 	 	AMOUNT	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

A1-2

 

ACKNOWLEDGED AND AGREED

“Agent”

GENERAL ELECTRIC CAPITAL CORPORATION

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

A1-3

 

ANNEX 2

TO

GUARANTY AND SECURITY AGREEMENT

FORM OF JOINDER AGREEMENT

This JOINDER AGREEMENT, dated as of_____, 20_____, is delivered pursuant to Section
8.6 of the Guaranty and Security Agreement, dated as of November [_____], 2011, by RENTECH
NITROGEN, LLC (the “Borrower”) and the other Persons from time to time party thereto as
Grantors in favor of the General Electric Capital Corporation, as Agent for the Secured Parties
referred to therein (s such agreement may be amended, restated, supplemented or otherwise modified
from time to time, the “Guaranty and Security Agreement”). Capitalized terms used herein
without definition are used as defined in the Guaranty and Security Agreement.

By executing and delivering this Joinder Agreement, the undersigned, as provided in
Section 8.6 of the Guaranty and Security Agreement, hereby becomes a party to the Guaranty
and Security Agreement as a Grantor thereunder with the same force and effect as if originally
named as a Grantor therein and, without limiting the generality of the foregoing, as collateral
security for the prompt and complete payment and performance when due (whether at stated maturity,
by acceleration or otherwise) of the Secured Obligations of the undersigned, hereby mortgages,
pledges and hypothecates to Agent for the benefit of the Secured Parties, and grants to Agent for
the benefit of the Secured Parties a lien on and security interest in, all of its right, title and
interest in, to and under the Collateral of the undersigned and expressly assumes all obligations
and liabilities of a Grantor thereunder. The undersigned hereby agrees to be bound as a Grantor
for the purposes of the Guaranty and Security Agreement.

The information set forth in Annex 1-A is hereby added to the information set forth in
Schedules 1, 2, 3, 4 and 5 to the Guaranty and Security
Agreement and Schedules 3.9, 3.16, 3.20, 3.21 and 3.22 to the Credit Agreement. By acknowledging
and agreeing to this Joinder Agreement, the undersigned hereby agree that this Joinder Agreement
may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed on
Annex 1-A to this Joinder Amendment shall be and become part of the Collateral referred to
in the Guaranty and Security Agreement and shall secure all Secured Obligations of the undersigned.

The undersigned hereby represents and warrants that each of the representations and warranties
contained in Article IV of the Guaranty and Security Agreement applicable to it is true and
correct on and as the date hereof as if made on and as of such date.

 

A2-1

 

IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly executed and
delivered as of the date first above written.

	 	 	 	 	 
	 	[ADDITIONAL GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

A2-2

 

ACKNOWLEDGED AND AGREED

[EACH GRANTOR PLEDGING

ADDITIONAL COLLATERAL]

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

“Agent”

GENERAL ELECTRIC CAPITAL CORPORATION

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

A2-3

 

ANNEX 3

TO

GUARANTY AND SECURITY AGREEMENT

FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT1

THIS [COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT, dated as of_____, 20_____, is
made by each of the entities listed on the signature pages hereof (each a “Grantor” and,
collectively, the “Grantors”), in favor of General Electric Capital Corporation (“GE
Capital”), as agent (in such capacity, together with its successors and permitted assigns,
“Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below).

RECITALS

A. Pursuant to the Credit Agreement, dated as of November [_____], 2011 (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), by and among Borrower, the other Credit Parties, the Lenders and the L/C Issuers
from time to time party thereto and GE Capital, as Agent, the Lenders and the L/C Issuers have
severally agreed to make extensions of credit to Borrower upon the terms and subject to the
conditions set forth therein;

B. Each Grantor has agreed, pursuant to a Guaranty and Security Agreement of even date
herewith in favor of Agent (as such agreement may be amended, restated, supplemented or otherwise
modified from time to time, the “Guaranty and Security Agreement”), to guarantee the
Obligations (as defined in the Credit Agreement) of Borrower; and

C. All of Grantors are party to the Guaranty and Security Agreement pursuant to which Grantors
are required to execute and deliver this [Copyright] [Patent] [Trademark] Security Agreement;

AGREEMENT

NOW, THEREFORE, in consideration of the premises and to induce the Lenders, the L/C Issuers
and Agent to enter into the Credit Agreement and to induce the Lenders and the L/C Issuers to make
their respective extensions of credit to Borrower thereunder, each Grantor hereby agrees with Agent
as follows:

Section 1. Defined Terms. Capitalized terms used herein without
definition are used as defined in the Guaranty and Security Agreement.

 

	 	 	 
	1	 	Separate agreements should be executed
relating to each Grantor’s respective Copyrights, Patents, and Trademarks.

 

A3-1

 

Section 2. Grant of Security Interest in [Copyright] [Trademark]
[Patent] Collateral. Each Grantor, as collateral security for the prompt and complete payment
and performance when due (whether at stated maturity, by acceleration or otherwise) of the Secured
Obligations of such Grantor, hereby mortgages, pledges and hypothecates to Agent for the benefit of
the Secured Parties, and grants to Agent for the benefit of the Secured Parties a Lien on and
security interest
in, all of its right, title and interest in, to and under the following Collateral of such
Grantor (the “[Copyright] [Patent] [Trademark] Collateral”):

(a) [all of its Copyrights and all IP Licenses providing for Grant by or to such Grantor of
any right under any Copyright, including, without limitation, those referred to on Schedule
1 hereto;

(b) all renewals, reversions and extensions of the foregoing; and

(c) all income, royalties, proceeds and Liabilities at any time due or payable or asserted
under and with respect to any of the foregoing, including, without limitation, all rights to sue
and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]

or

(d) [all of its Patents and all IP Licenses providing for Grant by or to such Grantor of any
right under any Patent, including, without limitation, those referred to on Schedule 1
hereto;

(e) all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals
and extensions of the foregoing; and

(f) all income, royalties, proceeds and Liabilities at any time due or payable or asserted
under and with respect to any of the foregoing, including, without limitation, all rights to sue
and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]

or

(g) [all of its Trademarks and all IP Licenses providing for Grant by or to such Grantor of
any right under any Trademark, including, without limitation, those referred to on Schedule
1 hereto;

(h) all renewals and extensions of the foregoing;

(i) all goodwill of the business connected with the use of, and symbolized by, each such
Trademark; and

(j) all income, royalties, proceeds and Liabilities at any time due or payable or asserted
under and with respect to any of the foregoing, including, without limitation, all rights to sue
and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.]

 

A3-2

 

Section 3. Guaranty and Security Agreement. The security interest
granted pursuant to this [Copyright] [Patent] [Trademark] Security Agreement is granted in
conjunction with the security interest granted to Agent pursuant to the Guaranty and Security
Agreement and each
Grantor hereby acknowledges and agrees that the rights and remedies of Agent with respect to
the security interest in the [Copyright] [Patent] [Trademark] Collateral made and granted hereby
are more fully set forth in the Guaranty and Security Agreement, the terms and provisions of which
are incorporated by reference herein as if fully set forth herein.

Section 4. Grantor Remains Liable. Each Grantor hereby agrees that,
anything herein to the contrary notwithstanding, such Grantor shall assume full and complete
responsibility for the prosecution, defense, enforcement or any other necessary or desirable
actions in connection with their [Copyrights] [Patents] [Trademarks] and IP Licenses subject to a
security interest hereunder.

Section 5. Counterparts. This [Copyright] [Patent] [Trademark]
Security Agreement may be executed in any number of counterparts and by different parties in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. Signature pages may be detached
from multiple separate counterparts and attached to a single counterpart.

Section 6. Governing Law. This [Copyright] [Patent] [Trademark]
Security Agreement and the rights and obligations of the parties hereto shall be governed by, and
construed and interpreted in accordance with, the law of the State of New York.

[signature pages follow]

 

A3-3

 

IN WITNESS WHEREOF, each Grantor has caused this [Copyright] [Patent] [Trademark] Security
Agreement to be executed and delivered by its duly authorized officer as of the date first set
forth above.

	 	 	 	 	 
	 	Very truly yours,

“Grantor”

[GRANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

ACCEPTED AND AGREED

“Agent”

GENERAL ELECTRIC CAPITAL CORPORATION

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

[signature page to [copyright] [patent] [trademark] security agreement]

 

A3-4

 

ACKNOWLEDGMENT OF GRANTOR

	 	 	 	 	 	 	 	 	 

	State of

	 	                                                            )
	 	 		 	 	 
	 

	 	)	 	ss. 		 	 	
	County of

	 	                                                            )
	 	 		 	 	 

On
this _____ day of ____  _____, 20_____ before me personally appeared _____,
proved to me on the basis of satisfactory evidence to be the person who executed the foregoing
instrument on behalf of _____, who being by me duly sworn did depose and say that he is
an authorized officer of said corporation, that the said instrument was signed on behalf of said
corporation as authorized by its Board of Directors and that he acknowledged said instrument to be
the free act and deed of said corporation.

	 	 	 	 	 

	 

	 	 

Notary Public
	 	 

[acknowledgement of grantor for [copyright] [patent] [trademark] security agreement]

 

A3-5

 

SCHEDULE I

TO

[COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT

[Copyright] [Patent] [Trademark] Registrations

	1.	 	REGISTERED [COPYRIGHTS] [PATENTS] [TRADEMARKS]

	 	 	 	[Include Registration Number and Date]

	2.	 	[COPYRIGHT] [PATENT] [TRADEMARK] APPLICATIONS

	 	 	 	[Include Application Number and Date]

	3.	 	IP LICENSES

	 	 	 	[Include complete legal description of agreement (name of agreement, parties
and date)]exv4w1

Exhibit 4.1

Execution Version

WPX ENERGY, INC.

AND

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

Trustee

 

INDENTURE

Dated as of November 14, 2011

5.250% Senior Notes due 2017

6.000% Senior Notes due 2022

 

 

Reconciliation and tie between

Trust Indenture Act of 1939, as amended,

and the Indenture

	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	(S)310(a)(1)
	 	608
	(a)(2)
	 	608
	(b)
	 	609
	(S)312(a)
	 	205, 701
	(b)
	 	702
	(c)
	 	702
	(S)313(a)
	 	703
	(b)(2)
	 	703
	(c)
	 	703
	(d)
	 	703
	(S)314(a)
	 	704
	(c)(1)
	 	102
	(c)(2)
	 	102
	(e)
	 	102
	(f)
	 	102
	(S)316(a) (last sentence)
	 	101
	(a)(1)(A)
	 	502, 512
	(a)(1)(B)
	 	513
	(b)
	 	508
	(S)317(a)(1)
	 	503
	(a)(2)
	 	504
	(b)
	 	1003
	(S)318(a)
	 	108

Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of this
Indenture.

 

 

TABLE
OF CONTENTS

	 	 	 	 	 
	 
	 	 	Page	 

	ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	 
	 	 	 	 
	Section 101 Definitions; Rules of Construction
	 	 	1	 
	Section 102 Compliance Certificates and Opinions
	 	 	19	 
	Section 103 Form of Documents Delivered to Trustee
	 	 	19	 
	Section 104 Acts of Holders
	 	 	20	 
	Section 105 Notices, etc. to Trustee and Company
	 	 	21	 
	Section 106 Notice to Holders of Securities; Waiver
	 	 	22	 
	Section 107 Language of Notices
	 	 	22	 
	Section 108 Incorporation by Reference of Trust Indenture Act; Trust Indenture Act Controls
	 	 	22	 
	Section 109 Effect of Headings and Table of Contents
	 	 	23	 
	Section 110 Successors and Assigns
	 	 	23	 
	Section 111 Separability Clause
	 	 	23	 
	Section 112 Benefits of Indenture
	 	 	23	 
	Section 113 Governing Law; Waiver of Trial by Jury
	 	 	23	 
	Section 114 Legal Holidays
	 	 	24	 
	Section 115 Counterparts
	 	 	24	 
	Section 116 Limitation on Individual Liability
	 	 	24	 
	 
	 	 	 	 
	ARTICLE TWO THE SECURITIES
	 	 	25	 
	 
	 	 	 	 
	Section 201 Form and Dating
	 	 	25	 
	Section 202 Execution and Authentication
	 	 	26	 
	Section 203 Registrar and Paying Agent
	 	 	26	 
	Section 204 Paying Agent to Hold Money in Trust
	 	 	27	 
	Section 205 Holder Lists
	 	 	27	 
	Section 206 Transfer and Exchange
	 	 	27	 
	Section 207 Replacement Securities
	 	 	41	 
	Section 208 Temporary Securities
	 	 	42	 
	Section 209 Cancellation
	 	 	42	 
	Section 210 Defaulted Interest
	 	 	42	 
	Section 211 Persons Deemed Owners
	 	 	43	 
	Section 212 Computation of Interest
	 	 	43	 
	Section 213 CUSIP and ISIN Numbers
	 	 	43	 
	 
	 	 	 	 
	ARTICLE THREE [RESERVED]
	 	 	44	 
	 
	 	 	 	 
	ARTICLE FOUR SATISFACTION AND DISCHARGE OF INDENTURE
	 	 	44	 
	 
	 	 	 	 
	Section 401 Satisfaction and Discharge
	 	 	44	 
	Section 402 Legal Defeasance and Covenant Defeasance
	 	 	45	 
	Section 403 Application of Trust Money
	 	 	48	 
	Section 404 Qualifying Trustee
	 	 	48	 

i 

 

TABLE
OF CONTENTS
(continued)

	 	 	 	 	 
	 
	 	 	Page	 

	ARTICLE FIVE REMEDIES
	 	 	48	 
	 
	 	 	 	 
	Section 501 Events of Default
	 	 	48	 
	Section 502 Acceleration of Maturity; Rescission and Annulment
	 	 	49	 
	Section 503 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	50	 
	Section 504 Trustee May File Proofs of Claim
	 	 	51	 
	Section 505 Trustee May Enforce Claims without Possession of Securities
	 	 	52	 
	Section 506 Application of Money Collected
	 	 	52	 
	Section 507 Limitations on Suits
	 	 	52	 
	Section 508 Unconditional Right of Holders to Receive Principal and any Premium and Interest
	 	 	53	 
	Section 509 Restoration of Rights and Remedies
	 	 	53	 
	Section 510 Rights and Remedies Cumulative
	 	 	53	 
	Section 511 Delay or Omission Not Waiver
	 	 	54	 
	Section 512 Control by Holders of Securities
	 	 	54	 
	Section 513 Waiver of Past or Existing Defaults
	 	 	54	 
	Section 514 Waiver of Stay or Extension Laws
	 	 	55	 
	Section 515 Undertaking for Costs
	 	 	55	 
	 
	 	 	 	 
	ARTICLE SIX THE TRUSTEE
	 	 	55	 
	 
	 	 	 	 
	Section 601 Certain Duties and Responsibilities
	 	 	55	 
	Section 602 Certain Rights of Trustee
	 	 	56	 
	Section 603 Notice of Defaults
	 	 	58	 
	Section 604 Not Responsible for Recitals or Issuance of Securities
	 	 	58	 
	Section 605 May Hold Securities
	 	 	59	 
	Section 606 Money Held in Trust
	 	 	59	 
	Section 607 Compensation and Reimbursement
	 	 	59	 
	Section 608 Corporate Trustee Required; Eligibility; Conflicting Interests
	 	 	60	 
	Section 609 Resignation and Removal; Appointment of Successor
	 	 	61	 
	Section 610 Acceptance of Appointment by Successor
	 	 	62	 
	Section 611 Merger, Conversion, Consolidation or Succession to Business
	 	 	63	 
	Section 612 Appointment of Authenticating Agent
	 	 	64	 
	 
	 	 	 	 
	ARTICLE SEVEN HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	65	 
	 
	 	 	 	 
	Section 701 Company to Furnish Trustee Names and Addresses of Holders
	 	 	65	 
	Section 702 Preservation of Information; Communications to Holders
	 	 	65	 
	Section 703 Reports by Trustee
	 	 	66	 
	Section 704 Reports by Company
	 	 	66	 
	 
	 	 	 	 
	ARTICLE EIGHT CONSOLIDATION, MERGER AND SALES
	 	 	67	 
	 
	 	 	 	 
	Section 801 Company May Consolidate, etc., Only on Certain Terms
	 	 	67	 
	Section 802 Successor Person Substituted for Company
	 	 	68	 

ii 

 

TABLE
OF CONTENTS
(continued)

	 	 	 	 	 
	 
	 	 	Page	 

	ARTICLE NINE SUPPLEMENTAL INDENTURES
	 	 	68	 
	 
	 	 	 	 
	Section 901 Without Consent of Holders
	 	 	68	 
	Section 902 With Consent of Holders
	 	 	70	 
	Section 903 Execution of Amended and Supplemental Indentures
	 	 	71	 
	Section 904 Effect of Amended or Supplemental Indentures
	 	 	71	 
	Section 905 Reference in Securities to Amended or Supplemental Indentures
	 	 	71	 
	Section 906 Conformity with Trust Indenture Act
	 	 	71	 
	Section 907 Notice of Amended or Supplemental Indenture
	 	 	71	 
	 
	 	 	 	 
	ARTICLE TEN COVENANTS
	 	 	72	 
	 
	 	 	 	 
	Section 1001 Payment of Principal, any Premium, and Interest
	 	 	72	 
	Section 1002 Maintenance of Office or Agency
	 	 	72	 
	Section 1003 Money for Securities Payments to Be Held in Trust
	 	 	73	 
	Section 1004 Limitation on Liens
	 	 	74	 
	Section 1005 Company Statement as to Compliance
	 	 	74	 
	Section 1006 Offer to Repurchase Upon Change of Control
	 	 	75	 
	 
	 	 	 	 
	ARTICLE ELEVEN REDEMPTION OF SECURITIES
	 	 	76	 
	 
	 	 	 	 
	Section 1101 Optional Redemption
	 	 	76	 
	Section 1102 Election or Obligation to Redeem; Notice to Trustee
	 	 	76	 
	Section 1103 Selection by Trustee of Securities to be Redeemed
	 	 	77	 
	Section 1104 Notice of Redemption
	 	 	77	 
	Section 1105 Deposit of Redemption Price
	 	 	78	 
	Section 1106 Securities Payable on Redemption Date
	 	 	78	 
	Section 1107 Securities Redeemed in Part
	 	 	78	 
	Section 1108 Repurchases on the Open Market
	 	 	79	 
	 
	 	 	 	 
	ARTICLE TWELVE MEETINGS OF HOLDERS OF SECURITIES
	 	 	79	 
	 
	 	 	 	 
	Section 1201 Purposes for Which Meetings May Be Called
	 	 	79	 
	Section 1202 Call, Notice and Place of Meetings
	 	 	79	 
	Section 1203 Persons Entitled to Vote at Meetings
	 	 	80	 
	Section 1204 Quorum; Action
	 	 	80	 
	Section 1205 Determination of Voting Rights; Conduct and Adjournment of Meetings
	 	 	81	 
	Section 1206 Counting Votes and Recording Action of Meetings
	 	 	81	 
	 
	 	 	 	 
	EXHIBIT A-1 FORM OF SENIOR NOTE DUE 2017 

EXHIBIT A-2 FORM OF SENIOR NOTE DUE 2022

EXHIBIT B     FORM OF CERTIFICATE OF TRANSFER 

EXHIBIT C     FORM OF CERTIFICATE OF EXCHANGE 

EXHIBIT D     FORM OF CERTIFICATE FROM ACQUIRING INSTITUTIONAL INVESTOR
	 	 	 	 

iii 

 

     INDENTURE, dated as of November 14, 2011, between WPX ENERGY, INC., a Delaware
corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
national banking association, duly organized and validly existing under the laws of the United
States of America, as trustee (the “Trustee”).

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its 5.250% Senior Notes due 2017 (the “2017 Notes”) and its 6.000% Senior
Notes due 2022 (the “2022 Notes” and, together with the 2017 Notes, the
“Securities”) and the Company and the Trustee agree as follows for the benefit of each
other and for the equal and ratable benefit of the Holders (as defined herein) of the Securities or
of any series thereof.

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 101 Definitions; Rules of Construction.

     Except as otherwise expressly provided in or pursuant to this Indenture or unless the context
otherwise requires, for all purposes of this Indenture:

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

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

     (3) 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 terms “generally accepted accounting principles” or “GAAP” with respect to any
computation required or permitted hereunder shall mean such accounting principles as are generally
accepted at the date of such computation;

     (4) the words “herein,” “hereof,” “hereto” 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;

     (5) the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B
or both,” not “either A or B but not both”);

 

 

     (6) provisions apply to successive events and transactions;

     (7) any reference to gender includes the masculine, feminine and the neuter, as the case may
be;

     (8) references to agreements and other instruments include subsequent amendments thereto and
restatements thereof;

     (9) “including” means “including without limitation”;

     (10) all exhibits are incorporated by reference herein and expressly made a part of this
Indenture;

     (11) all references to articles, sections and exhibits (and subparts thereof) are to this
Indenture; and

     (12) any transaction or event shall be considered “permitted by” or made “in accordance with”
or “in compliance with” this Indenture or any particular provision thereof if such transaction or
event is not expressly prohibited by this Indenture or such provision, as the case may be.

     Certain terms used principally in certain Articles hereof are defined in those Articles.

     “144A Global Security” means a Global Security substantially in the form of Exhibit
A-1 or Exhibit A-2 hereto bearing the Global Security Legend and the Private Placement Legend and
deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that
will be issued in a denomination equal to the outstanding principal amount of the applicable series
of Securities sold in reliance on Rule 144A.

     “2017 Notes” has the meaning assigned to it in the preamble to this Indenture. The
Initial 2017 Notes, the Exchange 2017 Notes and any Additional 2017 Notes shall be treated as a
single class for all purposes under this Indenture, and unless the context otherwise requires, all
references to the 2017 Notes shall include the Initial 2017 Notes, the Exchange 2017 Notes and any
Additional 2017 Notes.

     “2022 Notes” has the meaning assigned to it in the preamble to this Indenture. The
Initial 2022 Notes, the Exchange 2022 Notes and any Additional 2022 Notes shall be treated as a
single class for all purposes under this Indenture, and unless the context otherwise requires, all
references to the 2022 Notes shall include the Initial 2022 Notes, the Exchange 2022 Notes and any
Additional 2022 Notes.

     “Act,” when used with respect to any Holders, has the meaning specified in Section
104.

     “Additional Interest” means all additional interest then owing to the Holders of
Securities of any series pursuant to the Registration Rights Agreement.

2

 

     “Additional 2017 Notes” means additional 2017 Notes (other than the Initial 2017 Notes
and the Exchange 2017 Notes) issued under this Indenture in accordance with Section 202 hereof, as
part of the same series as the Initial 2017 Notes and the Exchange 2017 Notes.

     “Additional 2022 Notes” means additional 2022 Notes (other than the Initial 2022 Notes
and the Exchange 2022 Notes) issued under this Indenture in accordance with Section 202 hereof, as
part of the same series as the Initial 2022 Notes and the Exchange 2022 Notes.

     “Additional Securities” means the Additional 2017 Notes and the Additional 2022 Notes.

     “Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per
annum equal to the semi-annual equivalent yield to maturity of the applicable Comparable Treasury
Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the related Comparable Treasury Price for that Redemption Date.

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

     “Agent” means any Authenticating Agent, Registrar, co-registrar or Paying Agent.

     “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Security, the rules and procedures of the Depositary, Euroclear,
and Clearstream that apply to such transfer or exchange at the relevant time.

     “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section
612 to act on behalf of the Trustee to authenticate the Securities of one or more series.

     “Authentication Order” has the meaning specified in Section 202.

     “Authorized Newspaper” means a newspaper, in an official language of the place of
publication or in the English language, customarily published on each day that is a Business Day in
the place of publication, whether or not published on days that are Legal Holidays in the place of
publication, and of general circulation in each place in connection with which the term is used or
in the financial community of each such place. Where successive publications are required to be
made in Authorized Newspapers, the successive publications may be made in the same or in different
newspapers in the same city meeting the foregoing requirements and in each case on any day that is
a Business Day in the place of publication. If it shall be impractical in the opinion of the
Trustee to make any publication of any notice required hereby in an Authorized Newspaper, any
publication or other notice in lieu thereof which is made or given with the approval of the Trustee
shall constitute a sufficient publication of such notice.

     “Board of Directors” means:

3

 

     (1) with respect to any corporation, the board of directors of the corporation or any
authorized committee thereof;

     (2) with respect to a limited liability company, the managing member or managing members or
board of directors, as applicable, of such limited liability company or any authorized committee
thereof;

     (3) with respect to any partnership, the board of directors of the general partner of the
partnership or any authorized committee thereof; and

     (4) with respect to any other Person, the board or committee of such Person serving a similar
function.

     “Board Resolution” means a copy of one or more resolutions (which may be standing
resolutions), certified by the Secretary or an Assistant Secretary of the Company to have been duly
adopted by the Board of Directors of the Company and to be in full force and effect on the date of
such certification, and delivered to the Trustee.

     “Business Day” means each day that is not a Saturday, Sunday or other day on which
banking institutions in New York, New York or another Place of Payment are authorized or required
by law, regulation or executive order to close.

     “Business Entity” has the meaning assigned to it in the definition of “Non-Recourse
Subsidiary” in this Section 101.

     “Capital Stock” means:

     (1) in the case of a corporation, corporate stock;

     (2) in the case of an association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of corporate stock;

     (3) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited); and

     (4) any other interest or participation that confers on a Person the right to receive a share
of the profits and losses of, or distributions of assets of, the issuing Person.

     “Change of Control” means:

     (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets (including Capital Stock of the Subsidiaries of the
Company) of the Company and its Subsidiaries taken as a whole, to any “person” (as that term is
used in Section 13(d)(3) of the Exchange Act);

     (2) the adoption of a plan relating or the liquidation or dissolution of the Company;

4

 

     (3) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act, but excluding any employee benefit plan of such person or its subsidiaries, and any
person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of
any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act except that a person or group shall be deemed to have “beneficial ownership” of all
securities that such person or group has the right to acquire, whether such right is exercisable
immediately or only after the passage of time (such right, an “option right”)), directly or
indirectly, of 50% or more of the equity securities of the Company entitled to vote for members of
the Board of Directors or equivalent governing body of the Company on a fully-diluted basis (and
taking into account all such securities that such person or group has the right to acquire pursuant
to any option right); or

     (4) a majority of the members of the Board of Directors or equivalent governing body of the
Company ceases to be composed of individuals (i) who were members of that board or equivalent
governing body on the date the Securities were originally issued, (ii) whose election or nomination
to that board or equivalent governing body was approved by individuals referred to in clause (i)
above constituting at the time of such election or nomination at least a majority of that board or
equivalent governing body or (iii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clauses (i) and (ii) above constituting
at the time of such election or nomination at least a majority of that board or equivalent
governing body (excluding, in the case of both clause (ii) and clause (iii), any individual whose
initial nomination for, or assumption of office as, a member of that board or equivalent governing
body occurs as a result of an actual or threatened solicitation of proxies or consents for the
election or removal of one or more directors by any person or group other than a solicitation for
the election of one or more directors by or on behalf of the Board of Directors).

          Notwithstanding the foregoing, none of an initial public offering of Capital Stock of the
Company, the restructuring transactions described in the summary section of the Offering Memorandum
or any change to the Board of Directors or equivalent governing body of the Company in connection
with either of the foregoing shall constitute a Change of Control.

     “Change of Control Offer” has the meaning specified in Section 1006(2).

     “Change of Control Payment” has the meaning specified in Section 1006(2)(A).

     “Change of Control Payment Date” has the meaning specified in Section 1006(2)(B).

     “Change of Control Triggering Event” has the meaning specified in Section 1006(1).

     “Clearstream” means Clearstream Banking, S.A.

     “Commission” means the U.S. Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act or any successor agency.

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

5

 

     “Company Request” and “Company Order” mean, respectively, a written request or
order, as the case may be, signed in the name of the Company by an Officer of the Company, and
delivered to the Trustee.

     “Comparable Treasury Issue” means the United States Treasury security or securities
selected by the Quotation Agent as having an actual or interpolated maturity comparable to the
remaining term of the Securities of the series being redeemed that would be utilized, at the time
of selection and in accordance with customary financial practice, in pricing new issues of
corporate notes of comparable maturity to the remaining term of the Securities of such series.

     “Comparable Treasury Price” means, with respect to any Redemption Date:

     (1) the average of the Reference Treasury Dealer Quotations for that Redemption Date, after
excluding the highest and lowest of such Reference Treasury Dealer Quotations, or

     (2) if the Quotation Agent obtains fewer than three Reference Treasury Dealer Quotations, the
average of all Reference Treasury Dealer Quotations so received.

     “Consolidated Net Tangible Assets” means at any date of determination, the total
amount of assets of the Company and its Subsidiaries (less applicable reserves and other properly
deductible items but including investments in non-consolidated persons) after deducting therefrom:

     (1) all current liabilities (excluding (A) any current liabilities that by their terms are
extendable or renewable at the option of the obligor thereon to a time more than 12 months after
the time as of which the amount thereof is being computed, and (B) current maturities of long-term
debt); and

     (2) the value of all goodwill, trade names, trademarks, patents and other like intangible
assets,

all as set forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of
the Company for the Company’s most recently completed fiscal quarter, prepared in accordance with
GAAP.

     “Corporate Trust Office” means the designated office of the Trustee at which the
corporate trust business of the Trustee shall at any particular time be administered, which office
at the date of original execution of this Indenture is located at 601 Travis Street,
16th Floor, Houston, Texas, 77002, Attention: Corporate Finance.

     “Corporation” includes corporations and limited liability companies and, except for
purposes of Article Eight, associations, companies (other than limited liability companies) and
business trusts.

     “CUSIP number” means the alphanumeric designation assigned to a Security by Standard &
Poor’s Corporation, CUSIP Service Bureau.

6

 

     “Definitive Security” means a certificated Security registered in the name of the
Holder thereof (other than a Depositary or its nominee) and issued in accordance with Section 206
hereof, substantially in the form of Exhibit A-1 or Exhibit A-2 hereto except that such Security
shall not bear the Global Security Legend and shall not have the “Schedule of Adjustments” attached
thereto.

     “Depositary” means, with respect to the Securities of any series issuable or issued in
whole or in part in global form, the Person specified in Section 203 hereof as the Depositary with
respect to the Securities of such series, and any and all successors thereto appointed as
depositary hereunder with respect to the Securities of such series and having become such pursuant
to the applicable provisions of this Indenture.

     “Dollars” or “$” means a dollar or other equivalent unit of legal tender for
payment of public or private debts in the United States of America.

     “Domestic Subsidiary” means any Subsidiary of the Company that is incorporated or
organized under the laws of the United States of America, any State thereof or the District of
Columbia.

     “DTC” has the meaning specified in Section 203.

     “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

     “Event of Default” has the meaning specified in Section 501.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
thereto, in each case as amended from time to time.

     “Exchange Offer Registration Statement” has the meaning specified in the Registration
Rights Agreement.

     “Exchange 2017 Notes” means the 2017 Notes issued in the Registered Exchange Offer
pursuant to Section 206(6) hereof.

     “Exchange 2022 Notes” means the 2022 Notes issued in the Registered Exchange Offer
pursuant to Section 206(6) hereof.

     “Exchange Securities” means the Exchange 2017 Notes and the Exchange 2022 Notes.

     “GAAP” means generally accepted accounting principles in the United States, as such
are in effect on the date of this Indenture.

     “Global Security” means, individually and collectively, each of the Restricted Global
Securities and the Unrestricted Global Securities deposited with or on behalf of and registered in
the name of the Depositary or its nominee, substantially in the form of Exhibit A-1 or Exhibit A-2
hereto and that bears the Global Security Legend and that has the “Schedule of Adjustments”
attached thereto, issued in accordance with Section 201, 206(2)(C), 206(2)(D), 206(4)(B) or

7

 

206(6) hereof. As of the date of this Indenture all of the Securities are represented by
Global Securities.

     “Global Security Legend” means the legend set forth in Section 206(7)(B) hereof, which
is required to be placed on all Global Securities issued under this Indenture.

     “Government Obligations” means securities which are (1) direct obligations of the
United States of America where the payment or payments thereunder are supported by the full faith
and credit of the United States or (2) obligations of a Person controlled or supervised by and
acting as an agency or instrumentality of the United States of America where the timely payment or
payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the
United States of America, and which, in the case of (1) or (2), are not callable or redeemable at
the option of the issuer or issuers thereof, and shall also include a Depositary receipt issued by
a bank or trust company as custodian with respect to any such Government Obligation or a specific
payment of interest on or principal of or other amount with respect to any such Government
Obligation held by such custodian for the account of the holder of a Depositary 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 Depositary receipt from any amount received
by the custodian in respect of the Government Obligation or the specific payment of interest on or
principal of or other amount with respect to the Government Obligation evidenced by such Depositary
receipt.

     “Holder” means, in the case of any Security, the Person in whose name such Security is
registered in the Security Register.

     “IAI Global Security” means a Global Security substantially in the form of Exhibit A-1
or Exhibit A-2 hereto bearing the Global Security Legend and the Private Placement Legend and
deposited with or on behalf of and registered in the name of the Depositary or its nominee that
will be issued in a denomination equal to the outstanding principal amount of the applicable series
of Securities sold to Institutional Accredited Investors.

     “Indebtedness” means, with respect to any specified Person, any obligation created or
assumed by such Person, whether or not contingent, for the repayment of money borrowed from others
or any guarantee thereof.

     “Indenture” means this Indenture, as amended or supplemented from time to time,
pursuant to the applicable provisions hereof.

     “Independent Registered Public Accounting Firm” means a firm of accountants that, with
respect to the Company and any other obligor under any series of Securities, is an independent
registered public accounting firm within the meaning of the Securities Act and the rules and
regulations promulgated by the Commission thereunder, who may be the independent registered public
accounting firm regularly retained by the Company or who may be another independent registered
public accounting firm. Such firm shall be entitled to rely upon any Opinion of Counsel as to the
interpretation of any legal matters relating to this Indenture or certificates required to be
provided hereunder.

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     “Indirect Participant” means a Person who holds a beneficial interest in a Global
Security through a Participant.

     “Initial 2017 Notes” means the first $400,000,000 aggregate principal amount of 2017
Notes issued under this Indenture on the date hereof.

     “Initial 2022 Notes” means the first $1,100,000,000 aggregate principal amount of 2022
Notes issued under this Indenture on the date hereof.

     “Initial Securities” means the Initial 2017 Notes and the Initial 2022 Notes issued
under this Indenture on the date hereof.

     “Institutional Accredited Investor” means an institution that is an “accredited
investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also
QIBs.

     “interest” means any interest specified in any Security as being payable with respect
to that Security, and, where applicable, shall include Additional Interest. All references to
“interest” in this Indenture shall be deemed to include any such Additional Interest, if any, that
may be payable on the Securities of any series.

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

     “International Subsidiary” means each Subsidiary of the Company other than a
Domestic Subsidiary.

     “Investment Grade Rating” means a rating equal to or higher than: (i) Baa3
(or the equivalent) by Moody’s; or (ii) BBB- (or the equivalent) by S&P, or, if either such entity
ceases to rate a series of the Securities for reasons outside of the Company’s control, the
equivalent investment grade credit rating from any other Rating Agency.

     “Joint Venture” means any Person that is not a direct or indirect Subsidiary of the
Company in which the Company or any of its Subsidiaries owns any Capital Stock.

     “Legal Holidays” has the meaning specified in Section 114.

     “Letter of Transmittal” means the letter of transmittal to be prepared by the Company
and sent to all Holders of Securities for use by such Holders in connection with the Registered
Exchange Offer.

     “Lien” means any mortgage, pledge, lien, security interest or other similar
encumbrance.

     “Maturity” means, with respect to any Security, the date on which the principal of
such Security or an installment of interest becomes due and payable as provided in or pursuant to
this Indenture, whether at the Stated Maturity or by declaration of acceleration, notice of
redemption or repurchase, notice of option to elect repayment or otherwise, and includes the
Redemption Date.

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     “Moody’s” means Moody’s Investors Service, Inc. or, if Moody’s Investors Service, Inc.
shall cease rating notes having a maturity at original issue of at least one year and such ratings
business shall have been transferred to a successor Person, such successor Person; provided,
however, that if there is no successor Person, then “Moody’s” shall mean any other national
recognized rating agency, other than S&P, that rates notes having a maturity at original issuance
of at least one year and that shall have been designated by the Company.

     “Non-Recourse Indebtedness” means any Indebtedness incurred by any Joint Venture or
Non-Recourse Subsidiary which does not provide for recourse against the Company or any of its
Subsidiaries (other than a Non-Recourse Subsidiary) or any property or assets of the Company or any
of its Subsidiaries (other than the Capital Stock or the properties or assets of a Joint Venture or
Non-Recourse Subsidiary).

     “Non-Recourse Subsidiary” means any Subsidiary of the Company (1) whose principal
purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets
financed thereby, or to become a direct or indirect partner, member or other equity participant or
owner in a partnership, limited partnership, limited liability partnership, corporation (including
a business trust), limited liability company, unlimited liability company, joint stock company,
trust, unincorporated association or joint venture created for such purpose (collectively, a
“Business Entity”), (2) who is not an obligor or otherwise bound with respect to any
Indebtedness other than Non-Recourse Indebtedness, (3) substantially all the assets of which
Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed),
or the operation of which is being financed (or to be financed), in whole or in part by
Non-Recourse Indebtedness, or (y) Capital Stock in, or Indebtedness or other obligations of, one or
more other Non-Recourse Subsidiaries or Business Entities, and (4) any Subsidiary of a Non-Recourse
Subsidiary; provided that such Subsidiary shall be considered to be a Non-Recourse
Subsidiary only to the extent that and for so long as each of the above requirements are met.

     “Non-U.S. Person” means a Person who is not a U.S. Person.

     “Offering Memorandum” means the offering memorandum, dated as of November 7, 2011,
prepared in connection with the initial sale and distribution of the Securities.

     “Office” or “Agency” means, with respect to any Securities, an office or
agency of the Company maintained or designated in a Place of Payment for such Securities pursuant
to Section 1002 or any other office or agency of the Company maintained or designated for such
Securities pursuant to Section 1002 or, to the extent designated or required by Section 1002 in
lieu of such office or agency, the Corporate Trust Office of the Trustee.

     “Officer” means, with respect to any Person, the Chairman of the Board of Directors, a
Vice Chairman, the Chief Executive Officer, the President, any Vice President (without regard to
qualifiers such as “Executive” or “Senior”), the Chief Operating Officer, the Chief Financial
Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant
Secretary of such Person, or other Person authorized by resolution of the Board of Directors of
such Person.

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     “Officer’s Certificate” means a certificate signed by an Officer of the Company,
which, if applicable, complies with the requirements of Section 314(e) of the Trust Indenture Act
and is delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or
counsel for the Company or an affiliate thereof or other counsel that, if applicable, complies with
the requirements of Section 314(e) of the Trust Indenture Act.

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

     (1) any such Security theretofore cancelled by the Trustee or accepted by the Trustee for
cancellation including Securities tendered and exchanged for other securities of the Company, or
any reductions in the interest in a Global Security effected by the Trustee in accordance with the
provisions of this Indenture;

     (2) any such Security of any series for which payment at the Maturity thereof money in the
necessary amount has been theretofore deposited pursuant hereto (other than pursuant to Section
402) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and
segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the
Holders of such series of Securities; provided that, if such Securities are to be redeemed,
notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made;

     (3) any such Security of any series with respect to which the Company has effected defeasance
or covenant defeasance pursuant to the terms hereof, except to the extent provided in Section 402;
and

     (4) any such Security which has been paid pursuant to Section 207 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this Indenture,
unless there shall have been presented to the Trustee proof satisfactory to it that such Security
is held by a “protected purchaser” (as such term is defined in the New York Uniform Commercial
Code) in whose hands such Security is a valid obligation of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of Outstanding Securities of any series have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or are present at a meeting of
Holders of Securities of such series for quorum purposes, Securities owned by the Company or any
other obligor upon the Securities of such series or any Affiliate of the Company or such other
obligor, shall be disregarded and deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in making any such determination or relying upon any such request,
demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible
Officer actually knows to be so owned shall be so disregarded. Securities so owned which shall
have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of a Responsible Officer (A) the pledgee’s right so to act with respect to such

11

 

Securities and (B) that the pledgee is not the Company or any other obligor upon the
Securities of such series or an Affiliate of the Company or such other obligor.

     “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a
Person who has an account with the Depositary (and, with respect to DTC, shall include Euroclear or
Clearstream).

     “Paying Agent” has the meaning specified in Section 203.

     “Permitted International Debt” means Indebtedness of any International
Subsidiary for which neither the Company nor any Domestic Subsidiary, directly or indirectly,
provides any guarantee or other credit support and which is secured, if at all, only by pledges of
or liens on assets (i) held by an International Subsidiary on the date of this Indenture, (ii)
acquired by an International Subsidiary from a Person not constituting an Affiliate or (iii)
acquired by an International Subsidiary from the Company, any Domestic Subsidiary or other
Affiliate on terms that, in the good faith judgment of the Company’s Board of Directors, are no
less favorable to the Company or the relevant Domestic Subsidiary or other Affiliate than those
that would have been obtained in a comparable transaction by the Company or such Domestic
Subsidiary or other Affiliate with an unrelated Person or, if in the good faith judgment of the
Company’s Board of Directors, no comparable transaction is available with which to compare such
transaction, such transaction is otherwise fair to the Company or the relevant Domestic Subsidiary
or other Affiliate from a financial point of view.

     “Permitted Liens” means:

     (1) any Lien existing on any property at the time of the acquisition thereof and not created
in contemplation of such acquisition by the Company or any of its Subsidiaries, whether or not
assumed by the Company or any of its Subsidiaries;

     (2) any Lien existing on any property of a Subsidiary of the Company at the time it becomes a
Subsidiary of the Company and not created in contemplation thereof and any Lien existing on any
property of any Person at the time such Person is merged or liquidated into or consolidated with
the Company or any Subsidiary thereof and not created in contemplation thereof;

     (3) purchase money and analogous Liens incurred in connection with the acquisition (including
through merger, consolidation or other reorganization), development, construction, improvement,
repair or replacement of property (including such Liens securing Indebtedness incurred within 12
months of the date on which such property was acquired, developed, constructed, improved, repaired
or replaced); provided that all such Liens attach only to the property acquired, developed,
constructed, improved, repaired or replaced and the principal amount of the Indebtedness secured by
such Lien shall not exceed the gross cost of the property;

     (4) Liens on accounts receivable and related proceeds thereof arising in connection with a
receivables financing and any Lien held by the purchaser of receivables derived from property or
assets sold by the Company or any Subsidiary thereof and securing such receivables resulting from
the exercise of any rights arising out of defaults on such receivables;

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     (5) leases constituting Liens existing on the date of this Indenture or thereafter existing
and any renewals or extensions thereof;

     (6) any Lien securing industrial development, pollution control or similar revenue bonds;

     (7) Liens existing on the date hereof;

     (8) Liens in favor of the Company or any of its Subsidiaries;

     (9) Liens securing Indebtedness incurred to refund, extend, refinance or otherwise replace
Indebtedness (“Refinanced Indebtedness”) secured by a Lien permitted to be incurred under
this Indenture; provided that the principal amount of such Refinanced Indebtedness does not
exceed the principal amount of Indebtedness refinanced (plus the amount of penalties, premiums,
fees, accrued interest and reasonable expenses incurred therewith) at the time of refinancing;

     (10) Liens on any assets or properties, or pledges of the Capital Stock, of (a) any Joint
Venture owned by the Company or any of its Subsidiaries or (b) any Non-Recourse Subsidiary, in each
case only to the extent securing Non-Recourse Indebtedness of such Joint Venture or Non-Recourse
Subsidiary;

     (11) Liens on the products and proceeds (including insurance, condemnation and eminent domain
proceeds) of and accessions to, and contract or other rights (including rights under insurance
policies and product warranties) derivative of or relating to, property permitted by this Indenture
to be subject to Liens but subject to the same restrictions and limitations set forth in this
Indenture as to Liens on such property (including the requirement that such Liens on products,
proceeds, accessions, and rights secure only obligations that such property is permitted to
secure);

     (12) any Liens securing Indebtedness neither assumed nor guaranteed by the Company or a
Subsidiary of the Company nor on which the Company or a Subsidiary of the Company customarily pays
interest, existing upon real estate or rights in or relating to real estate (including
rights-of-way and easements) acquired by the Company or such Subsidiary, which mortgage Liens do
not materially impair the use of such property for the purposes for which it is held by the Company
or such Subsidiary;

     (13) any Lien existing or hereafter created on any office equipment, data processing equipment
(including computer and computer peripheral equipment), or transportation equipment (including
motor vehicles, aircraft, and marine vessels);

     (14) undetermined Liens and charges incidental to construction or maintenance;

     (15) any Lien created or assumed by the Company or a Subsidiary of the Company on oil, gas,
coal, or other mineral or timber property owned or leased by the Company or a Subsidiary of the
Company to secure loans to the Company or a Subsidiary of the Company, for the purpose of
developing such properties;

13

 

     (16) any Lien created by the Company or a Subsidiary of the Company on any contract (or any
rights thereunder or proceeds therefrom) providing for advances by the Company or such Subsidiary
to finance oil, natural gas, hydrocarbon or other mineral exploration or development, which Lien is
created to secure Indebtedness incurred to finance such advances; and

     (17) any Lien granted in connection with a cash collateralization or similar arrangement to
secure obligations of the Company or of any of the Company’s Subsidiaries to issuing banks in
connection with letters of credits issued at the request of the Company or any Subsidiary of the
Company;

     (18) Liens on cash deposits in the nature of a right of setoff, banker’s lien, counterclaim or
netting of cash amounts owed arising in the ordinary course of business on deposit accounts;

     (19) Liens arising under or from farm-out or farm-in agreements, carried working interest
arrangements or agreements, joint operating agreements, unitization and pooling arrangements and
agreements, royalties, overriding royalties, contracts for sales of oil, gas or other mineral
interests, area of mutual interest agreements, division orders, joint ventures, partnerships and
similar agreements relating to the exploration or development of, or production from, oil and gas
properties incurred in the ordinary course of business;

     (20) Liens occurring in, arising from, or associated with Specified Escrow Arrangements;

     (21) Liens securing Permitted International Debt;

     (22) Liens not otherwise permitted so long as the aggregate outstanding principal amount of
the Indebtedness secured thereby does not exceed $10,000,000 at any time; and

     (23) Liens in respect of production payments, forward sales and similar arrangements arising
in connection with Indebtedness that is payable solely out of the proceeds of the sale of oil,
natural gas, hydrocarbon or other minerals produced from the properties to which such Lien
attaches.

     Each of the foregoing paragraphs (1) through (23) shall also be deemed to permit (i)
appropriate Uniform Commercial Code and other similar filings to perfect the Liens permitted by
such paragraph and (ii) Liens on the products and proceeds (including insurance, condemnation and
eminent domain proceeds) of and accessions to, and contract or other rights (including rights under
insurance policies and product warranties) derivative of or relating to, the property permitted to
be encumbered under such paragraph, but subject to the same restrictions and limitations herein set
forth as to Liens on such property (including the requirement that such Liens on products,
proceeds, accessions and rights secure only the specified obligations, and in the amount, that such
property is permitted to secure).

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

14

 

     “Place of Payment” means, with respect to any Security, the place or places where the
principal of, or any premium or interest on, such Security are payable as provided in or pursuant
to this Indenture.

     “Primary Treasury Dealer” has the meaning assigned to it in the definition of
“Reference Treasury Dealers” in this Section 101.

     “Private Placement Legend” means the legend set forth in Section 206(7)(A)(i) hereof
to be placed on all Securities issued under this Indenture except where otherwise permitted by the
provisions of this Indenture.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

     “Quotation Agent” means the Reference Treasury Dealer appointed as such agent by the
Company.

     “Rating Agencies” means Moody’s and S&P, or if S&P or Moody’s or both shall not make a
rating on a series of the Securities publicly available (other than as a result of voluntary
action, or inaction, on the part of the Company), a nationally recognized statistical rating agency
or agencies, as the case may be, selected by the Company (as certified by a resolution of the
Company’s Board of Directors) which shall be substituted for S&P or Moody’s, or both, as the case
may be.

     “Rating Decline” means a decrease in the ratings of a series of the Securities by one
or more gradations (including gradations within categories as well as between rating categories) by
each of the Rating Agencies on any date from the date of the public notice of an arrangement that
could result in a Change of Control until the end of the 30-day period following public notice of
the occurrence of the Change of Control (which 30-day period will be extended so long as the rating
of such series of the Securities is under publicly announced consideration for possible downgrade
by either of the Rating Agencies and the other Rating Agency has either downgraded, or publicly
announced that it is considering downgrading, such series of the Securities). Notwithstanding the
foregoing, if such series of the Securities has an Investment Grade Rating by each of the Rating
Agencies, then “Ratings Decline” means a decrease in the ratings of such series of the Securities
by one or more gradations (including gradations within categories as well as between rating
categories) by each of the Rating Agencies such that the rating of such series of the Securities by
each of the Rating Agencies falls below an Investment Grade Rating on any date from the date of the
public notice of an arrangement that could result in a Change of Control until the end of the
30-day period following public notice of the occurrence of the Change of Control (which 30-day
period will be extended so long as the rating of such series of the Securities is under publicly
announced consideration for possible downgrade by either of the Rating Agencies and the other
Rating Agency has either downgraded, or publicly announced that it is considering downgrading, such
series of the Securities).

     “Redemption Date” means, with respect to any Security or portion thereof to be
redeemed, each date fixed for such redemption by or pursuant to this Indenture or such Security.

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     “Redemption Price” means, with respect to any Security or portion thereof to be
redeemed, the price at which it is to be redeemed including, if applicable, accrued and unpaid
interest as determined by or pursuant to this Indenture or such Security.

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

     “Reference Treasury Dealers” means (1) each of Barclays Capital Inc., Citigroup Global
Markets Inc. and J.P. Morgan Securities LLC and their successors, unless any of such entities
ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury
Dealer”), in which case the Company shall substitute another Primary Treasury Dealer; and (2)
any two other Primary Treasury Dealers selected by the Company.

     “Refinanced Indebtedness” has the meaning assigned to it in the definition of
“Permitted Liens” in this Section 101.

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of
the date hereof, among the Company, Citigroup Global Markets Inc., Barclays Capital Inc. and J.P.
Morgan Securities LLC, as such agreement may be amended, modified or supplemented from time to
time, and, with respect to any Additional Securities, one or more registration rights agreements
among the Company and the other parties thereto, as such agreement(s) may be amended, modified or
supplemented from time to time, relating to rights given by the Company to the purchasers of
Additional Securities of any series to register such Additional Securities under the Securities
Act.

     “Regulation S Global Security” means a Global Security substantially in the form of
Exhibit A-1 or Exhibit A-2 hereto bearing the Global Security Legend and the Private Placement
Legend and deposited with or on behalf of and registered in the name of the Depositary or its
nominee, issued in a denomination equal to the outstanding principal amount of the applicable
series of Securities sold in reliance on Rule 903 of Regulation S.

     “Regulation S” means Regulation S promulgated under the Securities Act.

     “Registered Exchange Offer” has the meaning set forth in the Registration Rights
Agreement.

     “Registrar” has the meaning specified in Section 203.

     “Regular Record Date” for the interest payable on any Security on any Interest Payment
Date therefor means the date, if any, specified in or pursuant to this Indenture or such Security
as the “Regular Record Date.”

     “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office
with direct responsibility for the administration of this Indenture, and also, with respect to a
particular

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corporate trust matter, any other officer of the Trustee to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject.

     “Restricted Definitive Security” means a Definitive Security bearing the Private
Placement Legend.

     “Restricted Global Security” means a Global Security bearing the Private Placement
Legend.

     “Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S.

     “Rule 144” means Rule 144 promulgated under the Securities Act.

     “Rule 144A” means Rule 144A promulgated under the Securities Act.

     “Rule 903” means Rule 903 promulgated under the Securities Act.

     “Rule 904” means Rule 904 promulgated under the Securities Act.

     “Securities Act” means the Securities Act of 1933, as amended.

     “Security” or “Securities” has the meaning assigned to it in the preamble to
this Indenture. For purposes of this Indenture, all references to the Securities to be issued or
authenticated upon transfer, replacement or exchange shall be deemed to refer to Securities of the
applicable series. In addition, unless the context otherwise requires, all references to the
Securities shall include the Initial Securities, the Exchange Securities and any Additional
Securities. The 2017 Notes and the 2022 Notes are separate series of Securities.

     “Security Register” has the meaning specified in Section 203.

     “series” means a series of Securities established under this Indenture.

     “Shelf Registration Statement” means the Shelf Registration Statement as defined in
the Registration Rights Agreement.

     “Specified Escrow Arrangements” means cash deposits at one or more financial
institutions for the purpose of funding any potential shortfall in the daily net cash position of
the Company or any of its Subsidiaries.

     “Stated Maturity” means the date established by or pursuant to this Indenture or the
applicable series of Securities as the fixed date on which the principal of the Securities of such
Series or any installment of interest is due and payable.

     “Subsidiary” means, with respect to any specified Person:

     (1) any corporation, association or other business entity (other than a partnership or limited
liability company) of which more than 50% of the total voting power of Voting Stock is

17

 

at the time owned or controlled, directly or indirectly, by that Person or one or more of the
other Subsidiaries of that Person (or a combination thereof); and

     (2) any partnership (whether general or limited) or limited liability company (a) the sole
general partner or member of which is such Person or a Subsidiary of such Person, or (b) if there
is more than a single general partner or member, either (x) the only managing general partners or
managing members of which are such Person or one or more Subsidiaries of such Person (or any
combination thereof) or (y) such Person owns or controls, directly or indirectly, a majority of the
outstanding general partner interests, member interests or other Voting Stock of such partnership
or limited liability company, respectively.

     “S&P” means Standard & Poor’s Ratings Service or, if Standard & Poor’s Ratings Service
shall cease rating notes having a maturity at original issue of at least one year and such ratings
business shall have been transferred to a successor Person, such successor Person; provided,
however, that if there is no successor Person, then “S&P” shall mean any other national recognized
rating agency, other than Moody’s, that rates notes having a maturity at original issuance of at
least one year and that shall have been designated by the Company.

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and any
reference herein to the Trust Indenture Act or a particular provision thereof shall mean such Act
or provision, as the case may be, as amended or replaced from time to time or as supplemented from
time to time by rules or regulations adopted by the Commission under or in furtherance of the
purposes of such Act or provision, as the case may be.

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

     “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from
time to time.

     “United States” means, except as otherwise provided in or pursuant to this Indenture,
the United States of America (including the states thereof and the District of Columbia), its
territories and possessions and other areas subject to its jurisdiction.

     “Unrestricted Definitive Security” means a Definitive Security that does not bear and
is not required to bear the Private Placement Legend.

     “Unrestricted Global Security” means a Global Security that does not bear and is not
required to bear the Private Placement Legend.

     “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the
Securities Act.

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     “Vice President” means, when used with respect to the Company or the Trustee, any vice
president, whether or not designated by a number or a word or words added before or after the title
“Vice President.”

     “Voting Stock” of any Person as of any date means the Capital Stock of such Person
that is at the time entitled (without regard to the occurrence of any contingency) to vote in the
election of the Board of Directors of such Person.

Section 102 Compliance Certificates and Opinions.

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

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate delivered pursuant to Section 1005) shall include:

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

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

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

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

Section 103 Form of Documents Delivered to Trustee.

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

     Any certificate or opinion of an Officer of the Company may be based, insofar as it relates to
legal matters, upon an Opinion of Counsel, unless such Officer knows that the opinion

19

 

with respect to the matters upon which his certificate or opinion is based are erroneous. Any
such Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate
or opinion of, or representations by, an Officer or Officers of the Company stating that the
information with respect to such factual matters is in the possession of the Company unless such
counsel knows that the certificate or opinion or representations with respect to such matters are
erroneous. Any certificate, statement or opinion of an Officer of the Company or any Opinion of
Counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of
or representations by an accountant or firm of accountants in the employ of the Company, unless
such Officer or counsel, as the case may be, knows that the certificate or opinion or
representations with respect to the accounting matters upon which his certificate, statement or
opinion may be based as aforesaid are erroneous.

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

Section 104 Acts of Holders.

     (1) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by or pursuant to this Indenture to be given or taken by Holders of Securities of any
series may be embodied in and evidenced by one or more instruments (including instruments in
electronic, digital or other machine-readable form) of substantially similar tenor signed by such
Holders (whether in person or through signatures in electronic, digital or other machine-readable
form) or by an agent duly appointed in writing (including writings in electronic, digital or other
machine-readable form) or may be embodied in and evidenced by the record of Holders voting in favor
thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders duly
called and held in accordance with the provisions of Article Twelve, or a combination of such
instruments or record. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Company. Such instrument or instruments or record or
both (and the action embodied therein and evidenced thereby) are herein sometimes referred to as
the “Act” of the Holders signing such instrument or instruments or so voting at any such
meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or
of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture
and (subject to Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee and the
Company and any agent of the Trustee or the Company, if made in the manner provided in this Section
104. The record of any meeting of Holders of Securities of any series shall be proved in the
manner provided in Section 1206.

     Without limiting the generality of this Section 104, unless otherwise provided in or pursuant
to this Indenture, a Holder of a Security of any series, including a Depositary that is a Holder of
a Global Security of such series, may make, give or take, by a proxy or proxies, duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver or other Act
provided in or pursuant to this Indenture or the Securities of such series to be made, given or
taken by Holders of Securities of such series, and a Depositary that is a Holder of a Global
Security of such series may provide its proxy or proxies to the beneficial owners of

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interests in any such Global Security through such Depositary’s standing instructions and
customary practices.

     The Trustee may fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any Global Security held by a Depositary entitled under the
procedures of such Depositary to make, give or take, by a proxy or proxies duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver or other Act
provided in or pursuant to this Indenture to be made, given or taken by Holders.

     (2) The fact and date of the execution by any Person of any such instrument or writing
referred to in this Section 104 may be proved in any reasonable manner which the Trustee deems
sufficient and in accordance with such reasonable rules as the Trustee may determine; and the
Trustee may in any instance require further proof with respect to any of the matters referred to in
this Section 104.

     (3) The ownership, principal amount and serial numbers of the Securities of each series held
by any Person, and the date of the commencement and the date of the termination of holding the
same, shall be proved by the Security Register.

     (4) If the Company shall solicit from the Holders of any Securities of any series any request,
demand, authorization, direction, notice, consent, waiver or other Act, the Company may at its
option (but is not obligated to), by Board Resolution, fix in advance a record date for the
determination of Holders of the Securities of such series entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other Act. If such a record date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or other Act may be given
before or after such record date, but only the Holders of the Securities of such series 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 Outstanding Securities of such series
have authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other Act, and for that purpose the Outstanding Securities of such series shall
be computed as of such record date; provided that no such authorization, agreement or
consent by the Holders of the Securities of such series shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the
record date.

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

Section 105 Notices, etc. to Trustee and Company.

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

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     (1) the Trustee by any Holder or the Company shall be sufficient for every purpose hereunder
if made, given, furnished or filed in writing (which may be via facsimile) to or with the Trustee
at its Corporate Trust Office, or

     (2) the Company by the Trustee or any Holder shall be sufficient for every purpose hereunder
(unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid
or airmail postage prepaid if sent from outside the United States, to the Company addressed to the
attention of its Treasurer (with a copy to the General Counsel) at the address of its principal
office specified in the first paragraph of this instrument or at any other address previously
furnished in writing to the Trustee by the Company.

Section 106 Notice to Holders of Securities; Waiver.

     Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture
provides for notice to Holders of Securities of any series of any event, such notice shall be
sufficiently given to Holders of the Securities of such series if in writing and mailed,
first-class postage prepaid, to each Holder of a Security affected by such event, at his address as
it appears in the Security Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where notice to Holders of
the Securities of any series is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Holder of a Security of such series shall affect
the sufficiency of such notice with respect to other Holders of the Securities of such series given
as provided herein. Any notice which is mailed in the manner herein provided shall be conclusively
presumed to have been duly given or provided. In the case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice by mail,
then such notification as shall be made with the approval of the Trustee shall constitute a
sufficient notification for every purpose hereunder.

     Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders of Securities 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.

Section 107 Language of Notices.

     Any request, demand, authorization, direction, notice, consent, election or waiver required or
permitted under this Indenture shall be in the English language, except that, if the Company so
elects, any published notice may be in an official language of the country of publication (with a
copy in English to be provided to the Trustee).

Section 108 Incorporation by Reference of Trust Indenture Act; Trust Indenture Act Controls.

     (1) If any provision hereof limits, qualifies or conflicts with the duties that would be
imposed by any of Sections 310 to 317 of the Trust Indenture Act through operation of Section
318(c) thereof on any person, such imposed duties shall control. The following Trust Indenture Act
terms have the following meanings:

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          “indenture securities” means the Securities;

          “indenture security holder” means a Holder;

          “indenture to be qualified” means this Indenture;

          “indenture trustee” or “institutional trustee” means the Trustee; and

          “obligor” on the indenture securities means the Company and any other obligor on the indenture
securities.

          All other Trust Indenture Act terms used in this Indenture that are defined by the Trust
Indenture Act, defined in the Trust Indenture Act by reference to another statute or defined by
Commission rule have the meanings assigned to them by such definitions.

     (2) If any provision of this Indenture limits, qualifies or conflicts with another provision
which is required to be included in this Indenture by the Trust Indenture Act, the provision
required by the Trust Indenture Act shall control.

Section 109 Effect of Headings and Table of Contents.

     The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

Section 110 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 111 Separability Clause.

     In case any provision in this Indenture or any Security 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 112 Benefits of Indenture.

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

Section 113 Governing Law; Waiver of Trial by Jury.

     This Indenture and the Securities of each series shall be governed by and construed in
accordance with the laws of the State of New York applicable to agreements made or instruments
entered into and, in each case, performed in said state. Each of the Company and the Trustee
hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all

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right to trial by jury in any legal proceeding arising out of or relating to this Indenture,
the Securities or the transactions contemplated hereby.

Section 114 Legal Holidays.

     Unless otherwise specified in or pursuant to this Indenture or the Securities of any series,
in any case where any Interest Payment Date, Stated Maturity or Maturity of any Security shall not
be a Business Day (a “Legal Holiday”) at any Place of Payment, then (notwithstanding any
other provision of this Indenture or the Securities of such series) payment need not be made at
such Place of Payment on such date, but such payment may be made on the next succeeding day that is
a Business Day at such Place of Payment with the same force and effect as if made on the Interest
Payment Date or at the Stated Maturity or Maturity, and no interest shall accrue on the amount
payable on such date or at such time for the period from and after such Interest Payment Date,
Stated Maturity, or Maturity, as the case may be, to the next succeeding Business Day.

Section 115 Counterparts.

     This Indenture may be executed in several counterparts, each of which shall be an original and
all of which shall constitute but one and the same instrument.

Section 116 Limitation on Individual Liability.

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

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ARTICLE TWO

THE SECURITIES

Section 201 Form and Dating.

     (1) General. The 2017 Notes and the Trustee’s certificate of authentication with respect
thereto will be substantially in the form of Exhibit A-1 hereto. The 2022 Notes and the Trustee’s
certificate of authentication with respect thereto will be substantially in the form of Exhibit A-2
hereto. The Securities of each series may have notations, legends or endorsements required by law,
stock exchange rule or usage. Each Security of each series will be dated the date of its
authentication. The principal of, and any premium or interest on, the Securities of each series
shall be payable in Dollars. The Securities of each series shall be in denominations of $2,000 and
integral multiples of $1,000 in excess thereof.

     The terms and provisions contained in the Securities of each series will constitute, and are
hereby expressly made, a part of this Indenture and the Company and the Trustee, by their execution
and delivery of this Indenture, and the Trustee, by its authentication and delivery of the
Securities, expressly agree to such terms and provisions and to be bound thereby. However, to the
extent any provision of any Security of any series conflicts with the express provisions of this
Indenture, the provisions of this Indenture shall govern and be controlling.

     (2) Global Securities. Securities issued in global form will be substantially in the form of
Exhibit A-1 or Exhibit A-2 hereto (including the Global Security Legend thereon and the “Schedule
of Adjustments” attached thereto). Securities issued in definitive form will be substantially in
the form of Exhibit A-1 or Exhibit A-2 hereto (but without the Global Security Legend thereon and
without the “Schedule of Adjustments” attached thereto). Each Global Security will represent such
of the outstanding Securities of any series as will be specified therein and each shall provide
that it represents the aggregate principal amount of Outstanding Securities of such series from
time to time endorsed thereon and that the aggregate principal amount of Outstanding Securities of
such series represented thereby may from time to time be reduced or increased, as appropriate, to
reflect exchanges and redemptions. Any endorsement of a Global Security to reflect the amount of
any increase or decrease in the aggregate principal amount of Outstanding Securities represented
thereby will be made by the Trustee or the custodian for the Depositary, at the direction of the
Trustee, in accordance with instructions given by the Holder thereof as required by Section 206
hereof. Securities offered and sold to a QIB in reliance on Rule 144A shall be issued initially in
the form of one or more applicable 144A Global Securities and numbered from 1 upward with the
prefix “RA”, Securities offered and sold in reliance on Regulation S shall be issued initially in
the form of one or more applicable Regulation S Global Securities and numbered from 1 upward with
the prefix “RS”, Securities offered and sold to Institutional Accredited Investors shall be issued
initially in the form of one or more applicable IAI Global Securities and numbered from 1 upward
with the prefix “RI” and Exchange Securities shall be issued initially in the form of one or more
permanent Global Securities with the Global Legend and numbered from 1 upward with the prefix “R”,
which in each case shall be deposited with the Trustee, as custodian for the Depositary (or with
such other custodian as the Depositary may direct), and registered in the name of the Depositary or
a nominee of the Depositary, duly executed by the Company and

25

 

authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the
Global Securities may from time to time be increased or decreased by adjustments made on the
records of the Trustee and the Depositary or its nominee as hereinafter provided.

     (3) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating
Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the
“General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will
be applicable to transfers of beneficial interests in a Regulation S Global Security that are held
by Participants through Euroclear or Clearstream.

Section 202 Execution and Authentication.

     The Securities shall be executed on behalf of the Company by any Officer of the Company. The
signature of any such Officer on the Securities may be by manual or facsimile signature.

     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.

     A Security will not be valid until authenticated by the manual signature of an authorized
signatory of the Trustee. The signature will be conclusive evidence that the Security has been
authenticated under this Indenture.

     The Trustee will, upon receipt of a written order of the Company signed by an Officer (an
“Authentication Order”), authenticate Securities for original issue that may be validly
issued under this Indenture, including any Additional Securities. The aggregate principal amount
of Securities Outstanding of any series at any time may not exceed the aggregate principal amount
of Securities of such series authorized for issuance by the Company pursuant to one or more
Authentication Orders, except as provided in Section 207 hereof.

     The Trustee may appoint an Authenticating Agent acceptable to the Company to authenticate
Securities. An Authenticating Agent may authenticate Securities whenever the Trustee may do so.
Each reference in this Indenture to authentication by the Trustee includes authentication by such
Authenticating Agent. An Authenticating Agent has the same rights as an Agent to deal with Holders
or an Affiliate of the Company.

Section 203 Registrar and Paying Agent.

     The Company will maintain an office or agency with respect to the Securities of each series
where such Securities may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where such Securities may be presented for payment
(“Paying Agent”). The Registrar will keep a register of such Securities (the “Security
Register”) and of their transfer and exchange. The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any
co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may
change any Paying Agent or Registrar without notice to any Holder. The Company will notify the
Trustee in

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writing of the name and address of any Agent not a party to this Indenture. If the Company
fails to appoint or maintain a Registrar or Paying Agent with respect to the Securities of any
series, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying
Agent or Registrar.

     The Company initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Securities of each series.

     The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act
as custodian for the Depositary with respect to the Global Securities of each series.

Section 204 Paying Agent to Hold Money in Trust.

     The Company will require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent will hold in trust for the benefit of Holders of the Securities of the applicable
series or the Trustee all money held by the Paying Agent for the payment of principal, premium, if
any, or interest on the Securities of such series, and will notify the Trustee of any default by
the Company in making any such payment. While any such default continues, the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary) will have no further liability for the
money. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a
separate trust fund for the benefit of the Holders of the Securities of the applicable series all
money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to
the Company, the Trustee will serve as Paying Agent for the Securities.

Section 205 Holder Lists.

     The Trustee will preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with
Section 312(a) of the Trust Indenture Act. If the Trustee is not the Registrar, the Company will
furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such
other times as the Trustee may request in writing, a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of the Holders of Securities and the
Company shall otherwise comply with Section 312(a) of the Trust Indenture Act.

Section 206 Transfer and Exchange.

     (1) Transfer and Exchange of Global Securities. A Global Security may not be transferred
except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary
to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee
to a successor Depositary or a nominee of such successor Depositary. All Global Securities of any
series will be exchanged by the Company for Definitive Securities if:

     (A) the Company delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary for such series or that it is no longer a
clearing agency registered under the Exchange Act and, in either case, a successor

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Depositary is not appointed by the Company within 90 days after the date of such notice
from the Depositary;

     (B) the Company in its sole discretion, and subject to all the requirements of the
Depositary, determines that the Global Securities of such series (in whole but not in part)
should be exchanged for Definitive Securities and delivers a written notice to such effect
to the Trustee; provided, however, that in no event shall a Regulation S
Global Security be exchanged for Definitive Securities prior to (i) the expiration of the
Restricted Period and (ii) the receipt of any applicable certificates required under the
provisions of this Indenture; or

     (C) there has occurred and is continuing a default or an Event of Default with respect
to the Securities of such series, and the Depositary notifies the Trustee of its decision to
exchange such Global Securities for Definitive Securities.

     Upon the occurrence of any of the preceding events in (A), (B) or (C) above, Definitive
Securities shall be issued in such names as the Depositary shall instruct the Trustee. Global
Securities of any series also may be exchanged or replaced, in whole or in part, as provided in
Sections 207 and 208 hereof. Every Security authenticated and delivered in exchange for, or in
lieu of, a Global Security or any portion thereof, pursuant to this Section 206 or Section 207 or
208 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Security.
A Global Security may not be exchanged for another Security other than as provided in this Section
206(1), however, beneficial interests in a Global Security may be transferred and exchanged as
provided in Section 206(2), (3) or (6) hereof.

     (2) Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and
exchange of beneficial interests in the Global Securities will be effected through the Depositary,
in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Securities will be subject to restrictions on transfer
comparable to those set forth herein to the extent required by the Securities Act. Transfers of
beneficial interests in the Global Securities also will require compliance with either subparagraph
(A) or (B) below, as applicable, as well as one or more of the other following subparagraphs, as
applicable:

     (A) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests
in any Restricted Global Security may be transferred to Persons who take delivery thereof in
the form of a beneficial interest in the same Restricted Global Security in accordance with
the transfer restrictions set forth in the Private Placement Legend; provided,
however, that prior to the expiration of the Restricted Period, transfers of
beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or
for the account or benefit of a U.S. Person (other than an Initial Purchaser).

     (B) Transfer of Beneficial Interests in Unrestricted Global Security. Beneficial
interests in any Unrestricted Global Security of any series may be transferred to Persons
who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Security of such series. No written orders or instructions shall be required to be
delivered to the Registrar to effect the transfers described in this Section 206(2)(B).

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     (C) All Other Transfers and Exchanges of Beneficial Interests in Global Securities. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 206(2)(A) and (B) above, the transferor of such beneficial interest must deliver to
the Registrar either:

               (i) both:

          (a) a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with the Applicable Procedures directing the
Depositary to credit or cause to be credited a beneficial interest in
another Global Security in an amount equal to the beneficial interest to be
transferred or exchanged; and

          (b) instructions given in accordance with the Applicable Procedures
containing information regarding the Participant account to be credited with
such increase; or

     (ii) both:

          (a) a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with the Applicable Procedures directing the
Depositary to cause to be issued a Definitive Security in an amount equal to
the beneficial interest to be transferred or exchanged; and

          (b) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Security
shall be registered to effect the transfer or exchange referred to in (A)
above.

Upon consummation of a Registered Exchange Offer by the Company in accordance with Section 206(6)
hereof, the requirements of this Section 206(2)(C) shall be deemed to have been satisfied upon
receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by
the Holder of such beneficial interests in the Restricted Global Securities. Upon satisfaction of
all of the requirements for transfer or exchange of beneficial interests in Global Securities
contained in this Indenture and the Securities or otherwise applicable under the Securities Act,
the Trustee shall adjust the principal amount of the relevant Global Securities pursuant to Section
206(8) hereof.

     (D) Transfer of Beneficial Interests to Another Restricted Global Security. A
beneficial interest in any Restricted Global Security of any series may be transferred to a
Person who takes delivery thereof in the form of a beneficial interest in another Restricted
Global Security of such series if the transfer complies with the requirements of Section
206(2)(C) above and the Registrar receives the following:

     (i) if the transferee will take delivery in the form of a beneficial interest
in a 144A Global Security, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (1) thereof;

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     (ii) if the transferee will take delivery in the form of a beneficial interest
in a Regulation S Global Security, then the transferor must deliver a certificate in
the form of Exhibit B hereto, including the certifications in item (2) thereof; and

     (iii) if the transferee will take delivery in the form of a beneficial interest
in an IAI Global Security, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3) thereof, if applicable.

     If any such transfer is effected pursuant to subparagraph (iii) above at a time when an IAI
Global Security of such series has not yet been issued, the Company shall issue and, upon receipt
of an Authentication Order in accordance with Section 202 hereof, the Trustee shall authenticate
one or more IAI Global Securities of such series in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to subparagraph (iii)
above.

     (E) Transfer and Exchange of Beneficial Interests in a Restricted Global Security for
Beneficial Interests in an Unrestricted Global Security. A beneficial interest in any
Restricted Global Security of any series may be exchanged by any holder thereof for a
beneficial interest in an Unrestricted Global Security of such series or transferred to a
Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Security of such series if the exchange or transfer complies with the requirements of
Section 206(2)(C) above and:

     (i) such exchange or transfer is effected pursuant to the Registered Exchange
Offer in accordance with the Registration Rights Agreement and the holder of the
beneficial interest to be transferred, in the case of an exchange, or the
transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Securities or (iii) a Person who is an affiliate (as
defined in Rule 144) of the Company;

     (ii) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (iii) such transfer is effected by a Broker-Dealer pursuant to the Registered
Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

     (iv) the Registrar receives the following:

     (a) if the holder of such beneficial interest in a Restricted Global
Security of such series proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Security of such series, a
certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof; or

30

 

     (b) if the holder of such beneficial interest in a Restricted Global
Security of such series proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest
in an Unrestricted Global Security of such series, a certificate from such
holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof;

and, in each such case set forth in this subparagraph (iv), if the Company so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Company to the effect that such exchange or transfer is
in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     If any such transfer is effected pursuant to subparagraph (ii) or (iv) above at a time when an
Unrestricted Global Security of such series has not yet been issued, the Company shall issue and,
upon receipt of an Authentication Order in accordance with Section 202 hereof, the Trustee shall
authenticate one or more Unrestricted Global Securities of such series in an aggregate principal
amount equal to the aggregate principal amount of beneficial interests transferred pursuant to
subparagraph (ii) or (iv) above.

     Beneficial interests in an Unrestricted Global Security of any series cannot be exchanged for,
or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a
Restricted Global Security of such series.

     (3) Transfer or Exchange of Beneficial Interests for Definitive Securities.

     (A) Beneficial Interests in Restricted Global Securities to Restricted Definitive
Securities. If any holder of a beneficial interest in a Restricted Global Security of any
series proposes to exchange such beneficial interest for a Restricted Definitive Security of
such series or to transfer such beneficial interest to a Person who takes delivery thereof
in the form of a Restricted Definitive Security of such series, then, upon receipt by the
Registrar of the following documentation:

     (i) if the holder of such beneficial interest in a Restricted Global Security
of any series proposes to exchange such beneficial interest for a Restricted
Definitive Security of such series, a certificate from such holder in the form of
Exhibit C hereto, including the certifications in item (2)(a) thereof;

     (ii) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (1) thereof;

     (iii) if such beneficial interest is being transferred to a Non-U.S. Person in
an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to
the effect set forth in Exhibit B hereto, including the certifications in item (2)
thereof;

31

 

     (iv) if such beneficial interest is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(a) thereof;

     (v) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable;

     (vi) if such beneficial interest is being transferred to the Company or any of
its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof; or

     (vii) if such beneficial interest is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Security to be
reduced accordingly pursuant to Section 206(8) hereof, and the Company shall execute and the
Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive
Security of the appropriate series in the appropriate principal amount. Any Definitive Security
issued in exchange for a beneficial interest in a Restricted Global Security pursuant to this
Section 206(3) shall be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest shall instruct the Registrar through
instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall
deliver such Definitive Securities to the Persons in whose names such Securities are so registered.
Any Definitive Security issued in exchange for a beneficial interest in a Restricted Global
Security pursuant to this Section 206(3)(A) shall bear the Private Placement Legend and shall be
subject to all restrictions on transfer contained therein.

     (B) Beneficial Interests in Restricted Global Securities to Unrestricted Definitive
Securities. A holder of a beneficial interest in a Restricted Global Security of any series
may exchange such beneficial interest for an Unrestricted Definitive Security of such series
or may transfer such beneficial interest to a Person who takes delivery thereof in the form
of an Unrestricted Definitive Security of such series only if:

     (i) such exchange or transfer is effected pursuant to the Registered Exchange
Offer in accordance with the Registration Rights Agreement and the holder of such
beneficial interest, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the applicable Letter of Transmittal that it is not (a) a
Broker-Dealer, (b) a Person participating in the distribution of the Exchange
Securities, or (c) a Person who is an affiliate (as defined in Rule 144) of the
Company;

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     (ii) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (iii) such transfer is effected by a Broker-Dealer pursuant to the Registered
Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

     (iv) the Registrar receives the following:

     (a) if the holder of such beneficial interest in a Restricted Global
Security of such series proposes to exchange such beneficial interest for an
Unrestricted Definitive Security of such series, a certificate from such
holder in the form of Exhibit C hereto, including the certifications in item
(1)(b) thereof; or

     (b) if the holder of such beneficial interest in a Restricted Global
Security of such series proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted
Definitive Security of such series, a certificate from such holder in the
form of Exhibit B hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (iv), if the Company so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Company to the effect that such exchange or transfer is
in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     (C) Beneficial Interests in Unrestricted Global Securities to Unrestricted Definitive
Securities. If any holder of a beneficial interest in an Unrestricted Global Security of
any series proposes to exchange such beneficial interest for a Definitive Security of such
series or to transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Definitive Security of such series, then, upon satisfaction of the conditions set
forth in Section 206(2)(C) hereof, the Trustee will cause the aggregate principal amount of
the applicable Global Security to be reduced accordingly pursuant to Section 206(8) hereof,
and the Company will execute and the Trustee will authenticate and deliver to the Person
designated in the instructions a Definitive Security of such series in the appropriate
principal amount. Any Definitive Security issued in exchange for a beneficial interest
pursuant to this Section 206(3)(C) will be registered in such name or names and in such
authorized denomination or denominations as the holder of such beneficial interest requests
through instructions to the Registrar from or through the Depositary and the Participant or
Indirect Participant. The Trustee will deliver such Definitive Securities to the Persons in
whose names such Securities are so registered. Any Definitive Security issued in exchange
for a beneficial interest pursuant to this Section 206(3)(C) will not bear the Private
Placement Legend.

     (4) Transfer and Exchange of Definitive Securities for Beneficial Interests.

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     (A) Restricted Definitive Securities to Beneficial Interests in Restricted Global
Securities. If any Holder of a Restricted Definitive Security of any series proposes to
exchange such Security for a beneficial interest in a Restricted Global Security of such
series or to transfer such Restricted Definitive Securities to a Person who takes delivery
thereof in the form of a beneficial interest in a Restricted Global Security of such series,
then, upon receipt by the Registrar of the following documentation:

     (i) if the Holder of such Restricted Definitive Security proposes to exchange
such Security for a beneficial interest in a Restricted Global Security of such
series, a certificate from such Holder in the form of Exhibit C hereto, including
the certifications in item (2)(b) thereof;

     (ii) if such Restricted Definitive Security is being transferred to a QIB in
accordance with Rule 144A, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (1) thereof;

     (iii) if such Restricted Definitive Security is being transferred to a Non-U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904, a
certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (2) thereof;

     (iv) if such Restricted Definitive Security is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(a) thereof;

     (v) if such Restricted Definitive Security is being transferred to an
Institutional Accredited Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (ii)
through (iv) above, a certificate to the effect set forth in Exhibit B hereto,
including the certifications, certificates and Opinion of Counsel required by item
(3) thereof, if applicable;

     (vi) if such Restricted Definitive Security is being transferred to the Company
or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof; or

     (vii) if such Restricted Definitive Security is being transferred pursuant to
an effective registration statement under the Securities Act, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(c)
thereof,

the Trustee will cancel the Restricted Definitive Security of such series, increase
or cause to be increased the aggregate principal amount of, in the case of clause
(i) above, the appropriate Restricted Global Security, in the case of clause (ii)
above, the appropriate 144A Global Security, and in the case of clause (iii) above,
the appropriate Regulation S Global Security, and in all other cases, the
appropriate IAI Global Security.

34

 

     (B) Restricted Definitive Securities to Beneficial Interests in Unrestricted Global
Securities. A Holder of a Restricted Definitive Security of any series may exchange such
Security for a beneficial interest in an Unrestricted Global Security of such series or
transfer such Restricted Definitive Security to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security of such series only if:

     (i) such exchange or transfer is effected pursuant to the Registered Exchange
Offer in accordance with the Registration Rights Agreement and the Holder, in the
case of an exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (a) a Broker-Dealer, (b) a Person
participating in the distribution of the Exchange Securities, or (c) a Person who is
an affiliate (as defined in Rule 144) of the Company;

     (ii) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (iii) such transfer is effected by a Broker-Dealer pursuant to the Registered
Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

     (iv) the Registrar receives the following:

     (a) if the Holder of such Definitive Securities proposes to exchange
such Securities for a beneficial interest in an Unrestricted Global Security
of such series, a certificate from such Holder in the form of Exhibit C
hereto, including the certifications in item (1)(c) thereof; or

     (b) if the Holder of such Definitive Securities proposes to transfer
such Securities to a Person who shall take delivery thereof in the form of a
beneficial interest in an Unrestricted Global Security of such series, a
certificate from such Holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (iv), if the Company so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form
reasonably acceptable to the Company to the effect that such exchange or transfer is
in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act.

     Upon satisfaction of the conditions of any of the subparagraphs in this Section 206(4)(B), the
Trustee will cancel the Definitive Securities and increase or cause to be increased the aggregate
principal amount of the appropriate Unrestricted Global Security.

     (C) Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global
Securities. A Holder of an Unrestricted Definitive Security of any series may exchange such
Security for a beneficial interest in an Unrestricted Global Security of

35

 

such series or transfer such Definitive Securities to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Security of such
series at any time. Upon receipt of a request for such an exchange or transfer, the Trustee
will cancel the applicable Unrestricted Definitive Security and increase or cause to be
increased the aggregate principal amount of one of the Unrestricted Global Securities of
such series.

     If any such exchange or transfer from a Definitive Security of any series to a
beneficial interest is effected pursuant to subparagraphs (B)(ii), (B)(iv) or (C) above at a
time when an Unrestricted Global Security of such series has not yet been issued, the
Company will issue and, upon receipt of an Authentication Order in accordance with Section
202 hereof, the Trustee will authenticate one or more Unrestricted Global Securities of such
series in an aggregate principal amount equal to the principal amount of Definitive
Securities so transferred.

     (5) Transfer and Exchange of Definitive Securities for Definitive Securities. Upon request by
a Holder of Definitive Securities and such Holder’s compliance with the provisions of this Section
206(5), the Registrar will register the transfer or exchange of Definitive Securities. Prior to
such registration of transfer or exchange, the requesting Holder must present or surrender to the
Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney,
duly authorized in writing. In addition, the requesting Holder must provide any additional
certifications, documents and information, as applicable, required pursuant to the following
provisions of this Section 206(5).

     (A) Restricted Definitive Securities to Restricted Definitive Securities. Any
Restricted Definitive Security of any series may be transferred to and registered in the
name of Persons who take delivery thereof in the form of a Restricted Definitive Security of
such series if the Registrar receives the following:

     (i) if the transfer will be made pursuant to Rule 144A, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (1) thereof;

     (ii) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and

     (iii) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable.

     (B) Restricted Definitive Securities to Unrestricted Definitive Securities. Any
Restricted Definitive Security of any series may be exchanged by the Holder thereof for an
Unrestricted Definitive Security of such series or transferred to a Person or Persons who
take delivery thereof in the form of an Unrestricted Definitive Security of such series if:

36

 

     (i) such exchange or transfer is effected pursuant to the Registered Exchange
Offer in accordance with the Registration Rights Agreement and the Holder, in the
case of an exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (a) a Broker-Dealer, (b) a Person
participating in the distribution of the Exchange Securities, or (c) a Person who is
an affiliate (as defined in Rule 144) of the Company;

     (ii) any such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (iii) any such transfer is effected by a Broker-Dealer pursuant to the
Registered Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

     (iv) the Registrar receives the following:

     (a) if the Holder of such Restricted Definitive Securities proposes to
exchange such Securities for an Unrestricted Definitive Security of such
series, a certificate from such Holder in the form of Exhibit C hereto,
including the certifications in item (1)(d) thereof; or

     (b) if the Holder of such Restricted Definitive Securities proposes to
transfer such Securities to a Person who shall take delivery thereof in the
form of an Unrestricted Definitive Security of such series, a certificate
from such Holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (iv), if the Company so
requests, an Opinion of Counsel in form reasonably acceptable to the Company to the
effect that such exchange or transfer is in compliance with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities
Act.

     (C) Unrestricted Definitive Securities to Unrestricted Definitive Securities. A Holder
of Unrestricted Definitive Securities of any series may transfer such Securities to a Person
who takes delivery thereof in the form of an Unrestricted Definitive Security of such
series. Upon receipt of a request to register such a transfer, the Registrar shall register
the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof.

     (6) Registered Exchange Offer. Upon the occurrence of the Registered Exchange Offer in
accordance with the Registration Rights Agreement, the Company will issue and, upon receipt of an
Authentication Order in accordance with Section 202 hereof, the Trustee will authenticate:

     (A) one or more Unrestricted Global Securities of each series in an aggregate principal
amount equal to the principal amount of the beneficial interests in the Restricted

37

 

Global Securities of such series accepted for exchange in the Registered Exchange Offer
by Persons that certify in the applicable Letters of Transmittal that (i) they are not
Broker-Dealers, (ii) they are not participating in a distribution of the Exchange Securities
of such series and (iii) they are not affiliates (as defined in Rule 144) of the Company;
and

     (B) Unrestricted Definitive Securities of each series in an aggregate principal amount
equal to the principal amount of the Restricted Definitive Securities of such series
accepted for exchange in the Registered Exchange Offer by Persons that certify in the
applicable Letters of Transmittal that (i) they are not Broker-Dealers, (ii) they are not
participating in a distribution of the Exchange Securities of such series, and (iii) they
are not affiliates (as defined in Rule 144) of the Company.

     Concurrently with the issuance of such Securities, the Trustee will cause the aggregate
principal amount of the applicable Restricted Global Securities of the applicable series to be
reduced accordingly, and the Company will execute and the Trustee will authenticate and deliver to
the Persons designated by the Holders of Definitive Securities of such series so accepted
Unrestricted Definitive Securities of such series in the appropriate principal amount.

     (7) Legends. The following legends will appear on the face of all Global Securities and
Definitive Securities issued under this Indenture unless specifically stated otherwise in the
applicable provisions of this Indenture.

     (A) Private Placement Legend.

     (i) Except as permitted by subparagraph (ii) below, each Global Security and
each Definitive Security (and all Securities issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following form:

“THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933,
AS AMENDED, AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE
UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE
NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER:

(1) REPRESENTS THAT (A) IT IS A QUALIFIED INSTITUTIONAL BUYER, AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT, (B) IT HAS ACQUIRED THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS
DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) (AN “IAI”);

(2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY, EXCEPT (A) TO WPX ENERGY,
INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE

38

 

ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(C) IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 OF THE SECURITIES ACT, (D) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) TO AN IAI THAT,
PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS
AND AGREEMENTS RELATING TO THE REGISTRATION OF THE TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER
CAN BE OBTAINED FROM THE TRUSTEE), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN
EACH OF THE CASES, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER APPLICABLE JURISDICTION;

(3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; AND

(4) AGREES THAT, BEFORE THE HOLDER OFFERS, SELLS, OR OTHERWISE TRANSFERS THIS SECURITY, WPX ENERGY,
INC. MAY REQUIRE THE HOLDER OF THIS SECURITY TO DELIVER A WRITTEN OPINION, CERTIFICATIONS AND/OR
OTHER INFORMATION THAT IT REASONABLY REQUIRES TO CONFIRM THAT SUCH PROPOSED TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES. AS USED IN THIS
SECURITY, THE TERMS “OFFSHORE TRANSACTION,” “U.S. PERSON” AND “UNITED STATES” HAVE THE MEANINGS
GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.”

     (ii) Notwithstanding the foregoing, any Global Security or Definitive Security
issued pursuant to subparagraphs (2)(E), (3)(B), (3)(C), (4)(B), (4)(C), (5)(B),
(5)(C) or (6) of this Section 206 (and all Securities issued in exchange therefor or
substitution thereof) will not bear the Private Placement Legend.

     (B) Global Security Legend. Each Global Security will bear a legend in substantially
the following form:

“THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT
BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND
DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY
SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.

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UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO WPX ENERGY, INC. OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNED HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (8) Cancellation and/or Adjustment of Global Securities. At such time as all beneficial
interests in a particular Global Security have been exchanged for Definitive Securities or a
particular Global Security has been redeemed, repurchased or cancelled in whole and not in part,
each such Global Security shall be returned to or retained and cancelled by the Trustee in
accordance with Section 209 hereof. At any time prior to such cancellation, if any beneficial
interest in a Global Security is exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Security or for Definitive
Securities, the principal amount of Securities represented by such Global Security shall be reduced
accordingly and an endorsement shall be made on such Global Security by the Trustee or by the
Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who will take delivery thereof in the
form of a beneficial interest in another Global Security, the principal amount of Securities
represented by such other Global Security shall be increased accordingly and an endorsement shall
be made on such Global Security by the Trustee or by the Depositary at the direction of the Trustee
to reflect such increase.

     (9) General Provisions Relating to Transfers and Exchanges.

     (A) To permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Securities and Definitive Securities upon receipt of an
Authentication Order in accordance with Section 202 hereof or at the Registrar’s request.

     (B) No service charge shall be made to a Holder of a beneficial interest in a Global
Security or to a Holder of a Definitive Security for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any transfer tax
or similar governmental charge payable in connection therewith (other than any such transfer
taxes or similar governmental charge payable upon exchange or transfer pursuant to Section
208, Section 905, and Section 1107).

     (C) The Registrar will not be required to register the transfer of or exchange of any
Security selected for redemption in whole or in part, except the unredeemed portion of any
Security being redeemed in part.

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

     (E) Neither the Registrar nor the Company will be required:

     (i) to issue, to register the transfer of, or to exchange any Securities during
a period beginning at the opening of business 15 days before the day of any
selection of Securities for redemption under Section 1103 hereof and ending at the
close of business on the day of selection; or

     (ii) to register the transfer of or to exchange any Security selected for
redemption in whole or in part, except the unredeemed portion of any Security being
redeemed in part.

     (F) Prior to due presentment for the registration of a transfer of any Security, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Security
is registered as the absolute owner of such Security for the purpose of receiving payment of
principal of and interest on such Securities and for all other purposes, and none of the
Trustee, any Agent or the Company shall be affected by notice to the contrary.

     (G) The Trustee will authenticate Global Securities and Definitive Securities in
accordance with the provisions of Section 202 hereof.

     (H) All certifications, certificates and Opinions of Counsel required to be submitted
to the Registrar pursuant to this Section 206 to effect a registration of transfer or
exchange may be submitted by facsimile, with an original of such document to be sent
promptly thereafter.

Section 207 Replacement Securities.

     If any mutilated Security is surrendered to the Trustee or the Company and the Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any Security, the
Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a
replacement Security if the Trustee’s requirements are met. If required by the Trustee or the
Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the
Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent
from any loss that any of them may suffer if a Security is replaced. The Company may charge for
its expenses in replacing a Security.

     Notwithstanding the foregoing provisions of this Section 207, in case any 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.

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     Every replacement Security is an additional obligation of the Company and shall be entitled to
all the benefits of this Indenture equally and proportionately with all other Securities duly
issued hereunder.

     The provisions of this Section 207 shall be 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 208 Temporary Securities.

     Until certificates representing Securities are ready for delivery, the Company may prepare and
the Trustee, upon receipt of an Authentication Order, will authenticate temporary Securities.
Temporary Securities will be substantially in the form of Definitive Securities but may have
variations that the Company considers appropriate for temporary Securities and as may be reasonably
acceptable to the Trustee. Without unreasonable delay, the Company will prepare and the Trustee
will authenticate Definitive Securities in exchange for temporary Securities.

     Holders of temporary Securities will be entitled to all of the benefits of this Indenture.

Section 209 Cancellation.

     All Securities surrendered for payment, redemption, registration of transfer or exchange
shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any
such Securities, as well as Securities surrendered directly to the Trustee for any such purpose,
shall be cancelled promptly by the Trustee. 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 cancelled promptly
by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
cancelled as provided in this Section, except as expressly permitted by or pursuant to this
Indenture. All cancelled Securities held by the Trustee shall be disposed of by the Trustee in
accordance with its customary procedures.

Section 210 Defaulted Interest.

     If the Company defaults in a payment of interest on the Securities of any series, it will pay
the defaulted interest in any lawful manner to the Persons who are Holders on a subsequent special
record date, in each case at the rate provided in the Securities of such series and in this
Indenture. The Company will notify the Trustee in writing of the amount of defaulted interest
proposed to be paid on each Security and the date of the proposed payment. The Company will fix or
cause to be fixed each such special record date and payment date; provided that no such
special record date may be less than 10 days prior to the related payment date for such defaulted
interest. At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) will mail or
cause to be mailed to Holders a notice that states the special record date, the related payment
date and the amount of such interest to be paid.

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Section 211 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 such Security is
registered in the Security Register as the owner of such Security for the purpose of receiving
payment of the principal of, any premium, and (subject to Section 201, Section 206, Section 210 and
Section 1001) any interest on, such Security and for all other purposes whatsoever, whether or not
any payment with respect to such Security shall be overdue, and none of the Company, the Trustee or
any agent of the Company or the Trustee shall be affected by notice to the contrary.

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

Section 212 Computation of Interest.

     Except as otherwise provided in or pursuant to this Indenture, or in any Security, interest on
the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day
months.

Section 213 CUSIP and ISIN Numbers.

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

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ARTICLE THREE

[RESERVED]

ARTICLE FOUR

SATISFACTION AND DISCHARGE OF INDENTURE

Section 401 Satisfaction and Discharge.

     Upon the direction of the Company by a Company Order, this Indenture shall cease to be of
further effect with respect to the Securities of any series specified in such Company Order, and
the Trustee, on receipt of a Company Order, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture with respect to the
Securities of such series, when

     (1) either:

     (A) all Securities of such series theretofore authenticated and delivered have been
accepted by the Trustee for cancellation (other than (i) Securities of such series which
have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 207 and (ii) Securities of such series the payment of money for which has
theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section
1003); or

     (B) all such Securities of such series not theretofore delivered to the Trustee for
cancellation:

     (i) have become due and payable, or

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

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

and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be
deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of
the Securities of such series, such purpose, (x) money in an amount or (y) Government
Obligations, that 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, in the opinion of a nationally recognized Independent Registered Public Accounting
Firm expressed in a written certification thereof delivered to the Trustee, which opinion
need be given only if Government Obligations have been so deposited, money in the amount, or
(z) a combination of (x) and (y) in an amount in Dollars sufficient without consideration of
any reinvestment to pay and discharge the entire

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indebtedness on such Securities not theretofore delivered to the Trustee for cancellation,
including the principal of, and any premium and interest on, such Securities, to the date of
such deposit (in the case of Securities which have become due and payable) or to the
Maturity thereof, as the case may be;

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

     (3) the Company has delivered to the Trustee an Officer’s 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.

     Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 607, the obligations of the
Trustee under Section 403, if money, Government Obligations, or a combination thereof shall have
been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 401, and
the obligations of the Company and the Trustee with respect to the Securities of such series under
Section 203, Section 206, Section 207, Section 208, Section 1002 and Section 1003, shall survive
such satisfaction and discharge.

Section 402 Legal Defeasance and Covenant Defeasance.

     (1) Legal defeasance of the Securities of any series under clause (2) of this Section 402 and
covenant defeasance of the Securities of any series under clause (3) of this Section 402 shall be
applicable to the Securities of each series, and the Company may at its option by Board Resolution,
at any time, with respect to such Securities, elect to have Section 402(2) or Section 402(3) be
applied to the Outstanding Securities of any series upon compliance with the conditions set forth
below in this Section 402.

     (2) Upon the Company’s exercise of the above option applicable to this Section 402(2) with
respect to the Securities of any series, the Company shall be deemed to have been discharged from
its obligations with respect to the Outstanding Securities of such series on the date the
conditions set forth in clause (4) of this Section 402 are satisfied (hereinafter,
“defeasance”). For this purpose, such defeasance means that the Company shall be deemed to
have paid and discharged the entire indebtedness represented by the Outstanding Securities of such
series, which shall thereafter be deemed to be “Outstanding” only for the purposes of the Sections
of this Indenture referred to in clauses (A) and (B) below, and to have satisfied all of its other
obligations under such Securities and this Indenture insofar as such Securities are concerned (and
the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the
same), except for the following which shall survive until otherwise terminated or discharged
hereunder: (A) the rights of Holders of the Outstanding Securities of such series to receive,
solely from the trust fund described in clause (4) of this Section 402 and as more fully set forth
in such Section, payments in respect of the principal of (and premium, if any) and interest, if
any, on the Securities of such series when such payments are due, (B) the obligations of the
Company and the Trustee under Section 203, Section 206, Section 207, Section 208, Section 1002 and
Section 1003 with respect to the Securities of such series, (C) the

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rights, powers, trusts, duties and immunities of the Trustee hereunder, and (D) this Section
402. The Company may exercise its option under this Section 402(2) notwithstanding the prior
exercise of its option under clause (3) of this Section 402 with respect to the Securities of such
series.

     (3) Upon the Company’s exercise of the above option applicable to this Section 402(3) with
respect to the Securities of any series, the Company shall be released from its obligations with
respect to the Securities of such series to comply with any term, provision or condition under
Section 801 and Section 1004 on and after the date the conditions set forth in clause (4) of this
Section 402 are satisfied (hereinafter, “covenant defeasance”), and the Securities of such
series shall thereafter be deemed to be not “Outstanding” for the purposes of any direction,
waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in
connection with any such covenant, but shall continue to be deemed “Outstanding” for all other
purposes hereunder. For this purpose, such covenant defeasance means that, with respect to the
Outstanding Securities of such series 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, whether
directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by
reason of reference in any such covenant to any other provision herein or in any other document and
such omission to comply shall not constitute a default or an Event of Default under Section 501(3)
or otherwise with respect to the Securities of such series, as the case may be, insofar as it
relates to Section 801 and Section 1004, but, except as specified above, the remainder of this
Indenture and the Securities of such series shall be unaffected thereby; provided that
notwithstanding a covenant defeasance with respect to Section 801, any Person to whom a sale,
assignment, transfer, lease, conveyance or other disposition is made pursuant to Section 801, shall
as a condition to such sale, assignment, transfer, lease, conveyance or other disposition, assume
by an indenture supplemental hereto in form satisfactory to the Trustee, executed by such successor
Person and delivered to the Trustee, the obligations of the Company to the Trustee under Section
607 and the second to the last paragraph of Section 402.

     (4) The following shall be the conditions to application of clause (2) or (3) of this Section
402 to the Outstanding Securities of any series:

     (A) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 608 who shall agree to
comply with the provisions of this Section 402 applicable to it) as trust funds in trust
solely for the benefit of the Holders of the Securities of such series for the purpose of
making the following payments, (i) an amount in Dollars, (ii) Government Obligations, which
through the scheduled payment of principal and interest in respect thereof in accordance
with their terms will provide, not later than one day before the due date of any payment of
principal of (and premium, if any) and interest, if any, on the Securities of such series
money in an amount, without consideration of any reinvestment of such principal and
interest, in the opinion of a nationally recognized Independent Registered Public Accounting
Firm expressed in a written certification thereof delivered to the Trustee or (iii) a
combination of (i) and (ii) in an amount in Dollars sufficient, to pay and discharge, and
which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge the
principal of (and premium, if any) and interest on such Outstanding Securities to the
Maturity of such principal or the due date of such

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installment of interest; provided that the Company shall specify whether such
Outstanding Securities are being defeased to Stated Maturity or to the Redemption Date.

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

     (C) No Event of Default with respect to the Securities of such series 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
(other than an Event of Default resulting from non compliance with any covenant from which
the Company is released upon effectiveness of such defeasance or covenant defeasance, as
applicable).

     (D) In the case of an election under clause (2) of this Section 402, the Company shall
have delivered to the Trustee an Opinion of Counsel stating that

     (i) the Company has received from the Internal Revenue Service a letter ruling,
or there has been published by the Internal Revenue Service a Revenue Ruling, or

     (ii) since the date of execution of this Indenture, there has been a change in
the applicable federal income tax law,

in either case to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities of such series will not recognize income, gain or loss
for federal income tax purposes as a result of such defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such defeasance had not occurred.

     (E) In the case of an election under clause (3) of this Section 402, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the
Outstanding Securities of such series will not recognize income, gain or loss for federal
income tax purposes as a result of such covenant defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as would have been
the case if such covenant defeasance had not occurred.

     (F) The Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant
defeasance under clause (2) or (3) of this Section 402 (as the case may be) have been
complied with.

     (G) If the Securities of such series are to be redeemed prior to Stated Maturity,
notice of such redemption shall have been duly given pursuant to this Indenture or provision
therefor satisfactory to the Trustee shall have been made.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge, imposed
on or assessed against the Government Obligations deposited pursuant to this Section

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402 or the principal or 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 of any
series.

     Anything in this Section 402 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in clause (4) of this Section 402
which, in the opinion of a nationally recognized Independent Registered Public Accounting Firm
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect a defeasance or covenant defeasance,
as applicable, in accordance with this Section 402.

Section 403 Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 1003, all money and Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee
(solely for purposes of this Section 403, the Trustee and any such other trustee are referred to
collectively as the “Trustee”) pursuant to Section 401 or Section 402 in respect of the Outstanding
Securities of any series shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine,
to the Persons entitled thereto, of the principal, premium, if any, and interest for whose payment
such money has or Government Obligations have been deposited with or received by the Trustee; but
such money and Government Obligations need not be segregated from other funds except to the extent
required by law.

Section 404 Qualifying Trustee.

     Any trustee appointed pursuant to Section 402 for the purpose of holding trust funds deposited
pursuant to that Section shall be appointed under an agreement in form acceptable to the Trustee
and shall provide to the Trustee a certificate of such trustee, upon which certificate the Trustee
shall be entitled to conclusively rely, that all conditions precedent provided for herein to the
related defeasance or covenant defeasance have been complied with. In no event shall the Trustee
be liable for any acts or omissions of said trustee.

ARTICLE FIVE

REMEDIES

Section 501 Events of Default.

     “Event of Default” means 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) with respect to the Securities of any series:

     (1) a default in the payment of any interest in respect of the Securities of such series when
due that continues for 30 days;

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     (2) a default in the payment of the principal of or any premium, if any, on the Securities of
such series when due at their Stated Maturity, upon redemption, or otherwise;

     (3) failure on the part of the Company duly to observe or perform any other of the covenants
or agreements (other than those described in clause (1) or (2) above) in this Indenture, which
failure shall continue for a period of 60 days, or in the case of Section 704, 90 days, after the
date on which written notice of such failure, requiring the same to be remedied and stating that
such notice is a “Notice of Default” shall have been given to the Company by the Trustee, upon
direction of Holders of at least 25% in principal amount of the Outstanding Securities of such
series; provided, however, that if such failure is not capable of cure within such
60-day or 90-day period, as the case may be, such 60-day or 90-day period, as the case may be,
shall be automatically extended by an additional 60 days so long as (i) such failure is subject to
cure, and (ii) the Company is using commercially reasonable efforts to cure such failure;

     (4) a decree or order by a court having jurisdiction in the premises shall have been entered
adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking
liquidation or reorganization of the Company under any applicable bankruptcy, insolvency,
reorganization or other similar law, and such decree or order shall have continued unvacated and
unstayed for a period of 90 days; an involuntary case shall be commenced under any applicable
bankruptcy, insolvency, reorganization or other similar law in respect of the Company and shall
continue undismissed for a period of 90 days or an order for relief in such case shall have been
entered and such order shall have remained in force unvacated and unstayed for a period of 90 days;
or a decree or order of a court having jurisdiction in the premises shall have been entered for the
appointment on the ground of insolvency or bankruptcy of a receiver, custodian, liquidator, trustee
or assignee in bankruptcy or insolvency of the Company or of its property, or for the winding up or
liquidation of its affairs, and such decree or order shall have remained in force unvacated and
unstayed for a period of 90 days; or

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

Section 502 Acceleration of Maturity; Rescission and Annulment.

     If (A) upon the occurrence and continuance of an Event of Default specified in clause (1) or
(2) of the definition thereof with respect to the Securities of any series, the Company and the
Trustee receive notice in writing that Holders of not less than 25%, or (B) upon the occurrence and
continuance of an Event of Default specified in clause (3) of the definition thereof with respect
to the Securities of any series, the Company and the Trustee receive notice in writing that Holders
of not less than a majority, in aggregate principal amount of the Outstanding Securities of such
series have declared the principal of all Outstanding Securities of such series to be due and
payable immediately, then upon any such declaration the same shall become and shall be immediately
due and payable, anything contained in this Indenture or in the Securities of such

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series to the contrary notwithstanding. If an Event of Default described in clause (4) or (5)
above shall occur and be continuing then the principal amount of all the Securities of such series
then Outstanding under this Indenture shall be and become due and payable immediately, without
notice or other action by any Holder or the Trustee, to the full extent permitted by law.

     At any time after a declaration of acceleration or automatic acceleration with respect to the
Securities of any series has been made and before a judgment or decree for payment of the money due
has been obtained by the Trustee as hereafter in this Article Five provided, the Holders of not
less than a majority in principal amount of the Outstanding Securities of such series by written
notice to the Company and the Trustee, may rescind and annul the declaration or automatic
acceleration and its consequences if:

     (1) the Company has paid or deposited with the Trustee a sum of money sufficient to pay (A)
all overdue installments of interest on the Securities of such series, (B) the principal of, and
any premium on, the Securities of such series which have become due otherwise than by the
declaration of acceleration or automatic acceleration and interest thereon, (C) interest upon
overdue interest on the Securities of such series at the rate then borne by the Securities of such
series and (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and

     (2) all Events of Default, other than the non-payment of the principal of, and any premium and
interest on, the Securities of such series which shall have become due solely by the acceleration,
shall have been cured or waived as provided in Section 513.

Section 503 Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Company covenants that if

     (1) default is made in the payment when due of any interest on the Securities of any series
and such default continues for 30 days; or

     (2) default is made in the payment of the principal of or any premium on the Securities of any
series when the principal or premium becomes due and payable at Maturity;

the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders
of the Securities of such series the whole amount of money then due and payable with respect to the
Securities of such series with interest upon the overdue principal, any premium and, to the extent
that payment of such interest shall be legally enforceable, upon any overdue installments of
interest at the rate then borne by the Securities of such series and, in addition thereto, such
further amount of money 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 to the Trustee under Section 607.

     If the Company fails to pay the money it is required to pay the Trustee pursuant to the
preceding paragraph forthwith upon the demand of the Trustee, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the money 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

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collect the monies adjudged or decreed to be payable in the manner provided by law out of the
property of the Company or any other obligor upon the Securities of such series wherever situated.

     If an Event of Default occurs and is continuing with respect to the Securities of any series,
the Trustee may, and if (A) an Event of Default specified in clause (1), (2), (4) or (5) of the
definition thereof occurs and is continuing with respect to the Securities of any series, and
Holders of not less than 25%, or (B) an Event of Default specified in clause (3) of the definition
thereof occurs and is continuing with respect to the Securities of any series, and Holders of not
less than a majority, in aggregate principal amount of the Outstanding Securities of such series
direct, so long as such Holders shall have provided the Trustee with such indemnity as it shall
require and subject to the provisions of Section 512, the Trustee shall, proceed to protect and
enforce its rights and the rights of the Holders of the 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 the Securities of such series or in aid of the exercise of any power granted herein or
therein, or to enforce any other proper remedy.

Section 504 Trustee May File Proofs of Claim.

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

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

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder of Securities of such series to
make such payments to the Trustee and, in the event that the Trustee shall consent to the making of
such payments directly to the Holders of Securities of such series, to pay to the Trustee any
amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel and any other amounts due the Trustee under Section 607.

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

Section 505 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 or judgment, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, shall be for the ratable benefit
of each and every Holder of a Security of such series in respect of which such judgment has been
recovered.

Section 506 Application of Money Collected.

     Any money collected by the Trustee pursuant to this Article Five with respect to the
Securities of any series shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal, or any premium or
interest, upon presentation of such Securities of any series, and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee and any predecessor Trustee under Section
607;

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

     THIRD: The balance, if any, to the Company.

Section 507 Limitations 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

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

     (2) (A) in the case of an Event of Default specified in clause (1), (2), (4) or (5) of the
definition thereof with respect to Securities of such series, Holders of not less than 25%, or (B)
in the case of an Event of Default specified in clause (3) of the definition thereof with respect
to

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Securities of such series, Holders of not less than a majority, in aggregate 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;

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

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

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

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture or any Security of
such series to affect, disturb or prejudice the rights of any other such Holders, 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 ratable benefit of all
such Holders.

Section 508 Unconditional Right of Holders to Receive Principal and any Premium and Interest.

     Notwithstanding any other provision in this Indenture, the Holder of any Security of any
series shall have the right, which is absolute and unconditional, to receive payment of the
principal of, and any premium and (subject to Section 206, Section 210, and Section 1001) interest
on, such Security of such series, on the Stated Maturity therefor specified in such Security (or,
in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any
such payment, and such right shall not be impaired without the consent of such Holder.

Section 509 Restoration of Rights and Remedies.

     If the Trustee or any Holder of a Security has instituted any proceeding to enforce any right
or remedy under this Indenture and such proceeding has been discontinued or abandoned for any
reason, or has been determined adversely to the Trustee or to such Holder, then and in every such
case the Company, the Trustee and each such Holder 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 each such Holder shall continue as though no
such proceeding had been instituted.

Section 510 Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 207, no right or remedy
herein conferred upon or reserved to the Trustee or to each and every Holder of a Security is
intended to be exclusive of any other right or remedy, and every right and remedy, to the extent
permitted by

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law, shall 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, to the extent permitted by law, prevent the
concurrent assertion or employment of any other appropriate right or remedy.

Section 511 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 Five or by law to the Trustee or to any Holder of a Security may be exercised from
time to time, and as often as may be deemed expedient, by the Trustee or by such Holder, as the
case may be.

Section 512 Control by Holders of Securities.

     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

     (1) such direction shall not be in conflict with any rule of law or with this Indenture or
with the Securities of such series and would not involve the Trustee in personal liability,

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

     (3) such direction is not unduly prejudicial to the rights of the other Holders of Securities
of such series not joining in such action.

Section 513 Waiver of Past or Existing Defaults.

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

     (1) in the payment of the principal of, any premium or interest on the Securities of such
series, or

     (2) in respect of a covenant or provision hereof which under Article Nine 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 or Event of 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.

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Section 514 Waiver of Stay or Extension Laws.

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

Section 515 Undertaking for Costs.

     All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any
undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 515 shall not apply to any suit instituted by
the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate
more than 10% in principal amount of Outstanding Securities of any series or to any suit instituted
by any Holder for the enforcement of the payment of the principal of (or premium, if any) or
interest on any Security on or after the Stated Maturity expressed in such Security (or, in the
case of redemption, on or after the Redemption Date, and, in the case of repayment, on or after the
date for repayment).

ARTICLE SIX

THE TRUSTEE

Section 601 Certain Duties and Responsibilities.

     The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture
Act. Except during the continuance of an Event of Default with respect to the Securities of a
series of which a Responsible Officer has actual knowledge, the Trustee undertakes to perform such
duties and only such duties as are specifically set forth in this Indenture with respect to such
Securities, and no implied covenants or obligations shall be read into this Indenture with respect
to such Securities against the Trustee. In case an Event of Default of which a Responsible Officer
has actual knowledge with respect to the Securities of a series has occurred (which has not been
cured or waived), the Trustee shall exercise the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in their exercise, with respect to such
Securities, as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs. Notwithstanding the foregoing, no provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any financial liability in
the performance of any of its duties hereunder, or in the exercise of any of its rights or powers.

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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 601.

Section 602 Certain Rights of Trustee.

     Subject to the provisions of Section 601:

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

     (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or a Company Order (in each case, other than delivery of any Security to the
Trustee for authentication and delivery pursuant to Section 202 which shall be sufficiently
evidenced as provided therein) and any resolution of the Board of Directors of the Company may be
sufficiently evidenced by a Board Resolution;

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

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

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

     (6) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, coupon, note, other evidence of indebtedness or other paper or
document, but the Trustee, in its discretion, may but shall not be obligated to 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, during business hours and upon reasonable notice, the books, records and premises of the
Company, personally or by agent or attorney at the expense of the Company and shall incur no
liability or additional liability of any kind by reason of such inquiry or investigation;

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

     (8) the Trustee shall not be liable in its individual capacity for any action taken or
suffered to be taken, unless it shall be proved that the Trustee was negligent, acted in bad faith
or engaged in willful misconduct;

     (9) the Authenticating Agent, Paying Agent, and Registrar shall have the same protections as
the Trustee set forth hereunder;

     (10) the Trustee shall not be liable in its individual capacity with respect to any action
taken, suffered or omitted to be taken by it in good faith in accordance with this Indenture, and,
to the extent not so provided herein, with respect to any act requiring the Trustee to exercise its
own discretion, relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this
Indenture or any Securities, unless it shall be proved that, in connection with any such action
taken, suffered or omitted or any such act, the Trustee was negligent, acted in bad faith or
engaged in willful misconduct;

     (11) no provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder, or in
the exercise of any of its rights or powers;

     (12) the Trustee shall not be charged with knowledge or required to take notice of any default
or Event of Default with respect to the Securities of any series unless either (A) a Responsible
Officer shall have actual knowledge of such default or Event of Default or (B) written notice of
such default or Event of Default, which references the Securities of such series and this
Indenture, shall have been given to a Responsible Officer by the Company or other obligor on the
Securities of such series or by any Holder of the Securities of such series;

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

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

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

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     (16) the permissive rights of the Trustee to take certain actions under or perform any
discretionary act enumerated in this Indenture shall not be construed as a duty unless so specified
herein, and the Trustee shall not be answerable for other than its negligence or willful misconduct
in the performance of such action or act;

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

     (18) in no event shall the Trustee be liable for special, indirect or consequential loss or
damage of any kind whatsoever (including but not limited to lost profits) even if the Trustee has
been advised of the likelihood of such loss or damage and regardless of the form of action; and

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

Section 603 Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series of which a Responsible Officer has actual knowledge, the Trustee shall give the Holders
of the Securities of such series notice of such default hereunder actually known to a Responsible
Officer, unless such default shall have been cured or waived; provided, however,
that, except in the case of a default in the payment of the principal of (or premium, if any), or
interest on any Security 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 in good faith determine that the withholding of such notice is in the
best interest of the Holders of the Securities of such series; and provided,
further, that in the case of any default of the character specified in Section 501(3), no
such notice to Holders of the Securities of such series shall be given until at least 30 days after
the occurrence thereof. For the purpose of this Section 603, the term “default” means any
event which is, or after notice or lapse of time or both would become, an Event of Default.

Section 604 Not Responsible for Recitals or Issuance of Securities.

     The recitals contained herein and in the Securities of each series, except the Trustee’s
certificate of authentication, shall be taken as the statements of the Company, and neither the
Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee
makes no representations as to the validity, sufficiency or priority of this Indenture or of

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the
Securities of any series. Neither the Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Company of the Securities of any series or the proceeds thereof.
Except with respect to the authentication of Securities pursuant to Section 202, the Trustee shall
not be responsible for the legality or the validity of this Indenture or any Securities issued or
to be issued hereunder.

Section 605 May Hold Securities.

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

Section 606 Money Held in Trust.

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

Section 607 Compensation and Reimbursement.

     The Company agrees:

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

     (2) except as otherwise expressly provided herein, to reimburse 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 arising out of or in connection with the acceptance
or administration of the trust or trusts hereunder (including the reasonable compensation and the
expenses and disbursements of its agents and counsel), except any such expense, disbursement or
advance as may be caused by the Trustee’s own negligence or willful misconduct; and

     (3) to fully indemnify each of the Trustee and any predecessor Trustee and its agents,
officers, directors and employees for, and to hold them harmless against, any loss, liability,
damage, claim or expense (including reasonable legal fees and expenses), including taxes (other
than taxes based on the income of the Trustee), incurred without negligence or willful
misconduct on their part, arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder, including the reasonable costs and expenses of
defending themselves against any claim or liability (whether asserted by the Company, a Holder of
Securities, or any other Person) in connection with the exercise or performance of any of their
powers or duties hereunder.

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     As security for the performance of the payment obligations of the Company under this Section
607, the Trustee shall have a lien prior to the Securities of each series upon all property and
funds held or collected by the Trustee as such, except funds held in trust for the payment of
principal of, and premium or interest on, particular Securities. Such lien shall survive the
resignation or removal of the Trustee and the satisfaction and discharge of this Indenture.
Without prejudice to any other rights available to the Trustee under applicable law, when the
Trustee incurs expenses or renders services after a default or Event of Default specified in
Section 501(4) or Section 501(5) hereof occurs, the expenses and the compensation for the services
(including the fees and expense of its agents and counsel) are intended to constitute expense of
administration under U.S. Code, Title 11 or any other similar foreign, federal or state law for the
relief of debtors.

     Without prejudice to any other rights available to the Trustee under applicable law, to the
extent permitted by law any compensation or expense incurred by the Trustee after a default
specified in or pursuant to Section 501 is intended to constitute an expense of administration
under any then applicable bankruptcy or insolvency law. “Trustee” for purposes of this Section 607
shall include any predecessor Trustee but the negligence or willful misconduct of any Trustee shall
not affect the rights of any other Trustee under this Section 607.

     Notwithstanding any other provision of this Indenture to the contrary, in no event shall the
Trustee be liable for special, indirect or consequential damages of any kind whatsoever (including
but not limited to lost profits) even if the Trustee had been advised of the likelihood of such
loss or damage and regardless of the form of action.

     The provisions of this Section 607 shall survive the satisfaction and discharge of this
Indenture or the earlier resignation or removal of the Trustee and shall apply with equal force and
effect to the Trustee in its capacity as Authenticating Agent, Paying Agent or Registrar.

Section 608 Corporate Trustee Required; Eligibility; Conflicting Interests.

     There shall at all times be a Trustee hereunder that is a Corporation or a national banking
association, organized and doing business under the laws of the United States of America, any state
thereof or the District of Columbia, eligible under Section 310(a)(1) of the Trust Indenture Act to
act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined
capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of
at least $50,000,000 subject to supervision or examination by federal or state authority. If at
any time the Trustee shall cease to be eligible in accordance with the provisions of this Section
608, it shall resign immediately in the manner and with the effect hereinafter specified in this
Article Six.

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

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Section 609 Resignation and Removal; Appointment of Successor.

     (1) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article Six shall become effective until the acceptance of appointment by the
successor Trustee pursuant to Section 610.

     (2) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 610 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to such series.

     (3) The Trustee may be removed with respect to the Securities of any series at any time by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series,
delivered to the Trustee and the Company. If the instrument of acceptance by a successor Trustee
required by Section 610 shall not have been delivered to the Trustee within 30 days after the
giving of such notice of removal, the Trustee being removed may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series. The Trustee for one or more series of Securities may be
removed by the Company, so long as no default or Event of Default with respect to the Securities of
such series has occurred and is continuing.

     (4) If at any time:

     (A) the Trustee shall fail to comply with the obligations imposed upon it under Section
310(b) of the Trust Indenture Act with respect to the Securities of any series after written
request therefor by the Company or any Holder of a Security of such series who has been a
bona fide Holder of a Security of such series for at least six months, or

     (B) the Trustee shall cease to be eligible under Section 608 and shall fail to resign
after written request therefor by the Company or any such Holder, or

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

then, in any such case,

     (i) the Company, by or pursuant to a Company Order, may remove the Trustee with
respect to all Securities or the Securities of such series, or

     (ii) subject to Section 515, any Holder of a Security who has been a bona fide
Holder of a Security of such series for at least six months may, on behalf of
himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee.

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     (5) If, with respect to the Securities of any series, the Trustee shall resign, be removed or
become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause with
respect to the Securities of any series, the Company, by or pursuant to a Company Order, shall
promptly appoint a successor Trustee or Trustees with respect to the Securities of such series (it
being understood that any such successor Trustee may be appointed with respect to the Securities of
one or more or all of such series and that at any time there shall be only one Trustee with respect
to the Securities of any particular series) and shall comply with the applicable requirements of
Section 610. If, within one year after such resignation, removal or incapacity, or the occurrence
of such vacancy, a successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of
such series delivered to the Company and the retiring Trustee, the successor Trustee with respect
to the Securities of such series so appointed shall, forthwith upon its acceptance of such
appointment in accordance with the applicable requirements of Section 610, become the successor
Trustee with respect to the Securities of such series and to that extent supersede the successor
Trustee with respect to the Securities of such series appointed by the Company. If no successor
Trustee shall have been so appointed with respect to the Securities of such series by the Company
or the Holders of Securities of such series and accepted appointment in the manner required by
Section 610, any Holder of a Security of such series who has been a bona fide Holder of a Security
of such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of any series.

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

     (7) In no event shall any retiring Trustee be liable for the acts or omissions of any
successor Trustee hereunder.

Section 610 Acceptance of Appointment by Successor.

     (1) Upon the appointment hereunder of any successor Trustee with respect to all Securities,
such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties hereunder of the retiring Trustee; but, on the request of the Company or such
successor Trustee, such retiring Trustee, upon payment of its charges, shall execute and deliver an
instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee and, subject to Section 1003, shall duly assign, transfer and deliver to such successor
Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its
lien, if any, provided for in Section 607.

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     (2) Upon the appointment hereunder of any successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee
shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall
accept such appointment and which (1) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, such successor Trustee all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is
not retiring with respect to all Securities, shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series as to which the retiring Trustee is
not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any
of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall
be responsible for any notice given to, or received by, or any act or failure to act on the part of
any other Trustee hereunder, and, upon the execution and delivery of such supplemental indenture,
the resignation or removal of the retiring Trustee shall become effective to the extent provided
therein, such retiring Trustee shall have no further responsibility for the exercise of rights and
powers or for the performance of the duties and obligations vested in the Trustee under this
Indenture with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates other than as hereinafter expressly set forth, and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates; but, on request of the Company
or such successor Trustee, such retiring Trustee, upon payment of its charges with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates and
subject to Section 1003 shall duly assign, transfer and deliver to such successor Trustee, to the
extent contemplated by such supplemental indenture, the property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to which the appointment
of such successor Trustee relates, subject to its lien, if any, provided for in Section 607.

     (3) Upon request of any Person appointed hereunder as a 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.

     (4) No Person shall accept its appointment hereunder as a successor Trustee unless at the time
of such acceptance such successor Person shall be qualified and eligible under this Article Six.

Section 611 Merger, Conversion, Consolidation or Succession to Business.

     Any Corporation or national banking association into which the Trustee may be merged or
converted or with which it may be consolidated, or any Corporation or national banking association
resulting from any merger, conversion or consolidation to which the Trustee shall be

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a party, or
any Corporation or national banking association succeeding to all or substantially all of the
corporate trust business of the Trustee by sale or otherwise, shall be the successor of the Trustee
hereunder, provided such Corporation or national banking association shall otherwise be qualified
and eligible under this Article Six 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 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 612 Appointment of Authenticating Agent.

     The Trustee may appoint one or more Authenticating Agents acceptable to the Company with
respect to one or more series of Securities which shall be authorized to act on behalf of the
Trustee to authenticate Securities of that or those series issued upon original issue, exchange,
registration of transfer, partial redemption or partial repayment or pursuant to Section 207, 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 must be acceptable to the Company and, except as provided in or
pursuant to this Indenture, shall at all times be a Corporation or national banking association
that would be permitted by the Trust Indenture Act to act as trustee under an indenture qualified
under the Trust Indenture Act, is authorized under applicable law and by its charter to act as an
Authenticating Agent and has a combined capital and surplus (computed in accordance with Section
310(a)(2) of the Trust Indenture Act) of at least $50,000,000. If at any time an Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section 612, it shall
resign immediately in the manner and with the effect specified in this Section 612.

     Any Corporation or national banking association into which an Authenticating Agent may be
merged or converted or with which it may be consolidated, or any Corporation or national banking
association resulting from any merger, conversion or consolidation to which such Authenticating
Agent shall be a party, or any Corporation or national banking association succeeding to all or
substantially all of the corporate agency or corporate trust business of an
Authenticating Agent, shall be the successor of such Authenticating Agent hereunder, provided
such Corporation or national banking association shall be otherwise eligible under this Section
612, 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 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 the Company. Upon receiving such a
notice of resignation or upon such a termination, or in case at

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any time such Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section 612, the Trustee 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 the
Securities of the series with respect to which such Authenticating Agent shall 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 if originally named as an Authenticating Agent. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section 612.

     The Company agrees to pay each Authenticating Agent from time to time reasonable compensation
for its services under this Section 612.

     The provisions of Section 202, Section 601, Section 604 and Section 605 shall be applicable to
each Authenticating Agent.

     If the Trustee does not have an office capable of authenticating Securities upon original
issuance located in a Place of Payment where the Company wishes to have the Securities of a series
authenticated upon original issuance, the Trustee, if so requested by Company Request (which
writing need not be accompanied by or contained in an Officer’s Certificate), shall appoint in
accordance with this Section 612 (and subject to such procedures as shall be acceptable to the
Trustee) an Authenticating Agent having an office in a Place of Payment designated by the Company
with respect to the Securities of such series.

ARTICLE SEVEN

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 701 Company to Furnish Trustee Names and Addresses of Holders.

     In accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or
cause to be furnished to the Trustee

     (1) semi-annually not later than 15 days after each Regular Record Date in respect of the
Securities of each series, a list, in each case in such form as the Trustee may reasonably require,
of the names and addresses of Holders of such Securities as of the applicable date, and

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

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

Section 702 Preservation of Information; Communications to Holders.

     The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the
Trust Indenture Act.

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     Every Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company, the Trustee, any Paying Agent or any Registrar shall be held
accountable by reason of the disclosure of any such information as to the names and addresses of
the Holders of Securities in accordance with Section 312 of the Trust Indenture Act, regardless of
the source from which such information was derived, and that the Trustee shall not be held
accountable by reason of mailing any material pursuant to a request made under Section 312(b) of
the Trust Indenture Act.

Section 703 Reports by Trustee.

     (1) Within 60 days after May 15 of each year commencing with the first May 15 following the
first issuance of the Securities, if required by Section 313(a) of the Trust Indenture Act, the
Trustee shall transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report dated
as of such May 15 with respect to any of the events specified in Section 313(a) of the Trust
Indenture Act which may have occurred since the later of the immediately preceding May 15 and the
date of this Indenture.

     (2) The Trustee shall transmit any reports required by Section 313(a) of the Trust Indenture
Act at the times specified therein.

     (3) A copy of each report, if any, described in Section 703(1) and Section 703(2) shall, at
the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any,
upon which the Securities of any series are listed, with the Commission and with the Company. The
Company will promptly notify the Trustee when the Securities of any series are listed on any stock
exchange and of any delisting thereof.

Section 704 Reports by Company.

     The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:

     (1) file with the Trustee, within 30 days after the Company has filed the same with the
Commission, unless such reports are available on the Commission’s EDGAR filing system (or any
successor thereto), copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time to time
by rules and regulations prescribe) which the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the
Company is not required to file information, documents or reports pursuant to either of
Section 13 or Section 15(d) of the Exchange Act, then it shall file with the Trustee and the
Commission, in accordance with rules and regulations prescribed from time to time by the
Commission, such of the supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered
on a national securities exchange as may be prescribed from time to time in such rules and
regulations;

     (2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and reports
with respect to compliance by the Company with the conditions and

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covenants of this Indenture as
may be required from time to time by such rules and regulations; and

     (3) transmit to the Holders of Securities within 30 days after the filing thereof with the
Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act,
such summaries of any information, documents and reports required to be filed by the Company
pursuant to paragraphs (1) and (2) of this Section 704 as may be required by rules and regulations
prescribed from time to time by the Commission.

     In addition to the foregoing, as long as any Securities remain Outstanding, the Company will
make available to all Holders of Securities and to securities analysts and prospective investors in
the Securities of any series, upon request, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act unless such information is available on the Commission’s
EDGAR filing system (or any successor thereto).

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

ARTICLE EIGHT

CONSOLIDATION, MERGER AND SALES

Section 801 Company May Consolidate, etc., Only on Certain Terms.

     The Company shall not directly or indirectly consolidate with or merge with or into, or sell,
assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets and
properties and the assets and properties of its Subsidiaries (taken as a whole) in one or more
related transactions to another Person, unless:

     (1) either: (A) the Company is the survivor; or (B) the Person formed by or surviving any such
consolidation or merger (if other than the Company) or to which such sale, assignment, transfer,
lease, conveyance or other disposition has been made is a Person formed, organized or existing
under the laws of the United States, any state of the United States or the District of Columbia;

     (2) the Person formed by or surviving any such consolidation or merger (if other than the
Company) or the Person to which such sale, assignment, transfer, lease, conveyance or other
disposition has been made shall expressly assume, by an indenture (or indentures if at such time
there is more than one Trustee) supplemental hereto, in form reasonably satisfactory to the
Trustee, executed by the successor Person and delivered to the Trustee, the due and punctual
payment of the principal of, and any premium and interest on, all the Securities and the
performance of every obligation of the Company in this Indenture and the Securities of each series,
and, if applicable, the Registration Rights Agreement;

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     (3) either the Company or the successor Person shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger,
sale, assignment, transfer, lease, conveyance or other disposition and, if a supplemental indenture
is required in connection with such transaction, such supplemental indenture comply with this
Article Eight and that all conditions precedent herein provided for relating to such transaction
have been complied with; and

     (4) 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 occurred and
be continuing.

Section 802 Successor Person Substituted for Company.

     Upon any consolidation by the Company with or merger of the Company into any other Person or
Persons where the Company is not the survivor or any sale, assignment, transfer, lease, conveyance
or other disposition of all or substantially all of the properties and assets of the Company and
the properties and assets of its Subsidiaries (taken as a whole) to any Person or Persons in
accordance with Section 801, the successor Person formed by such consolidation or into which the
Company is merged or to which such sale, assignment, transfer, lease, conveyance or other
disposition 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 Person had
been named as the Company herein; and thereafter, except in the case of a lease, the predecessor
Person shall be released from all obligations and covenants under this Indenture and the
Securities.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

Section 901 Without Consent of Holders.

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

     (1) to evidence the succession of another Person to the Company, and the assumption by any
such successor of the covenants of the Company contained herein and contained in the Securities of
such series, and, if applicable, the Registration Rights Agreement; or

     (2) to add to the covenants of the Company for the benefit of the Holders of all or any series
of Securities (as shall be specified in such supplemental indenture or indentures) or to surrender
any right or power conferred upon the Company pursuant to this Indenture or the Securities of such
series; provided that in respect of any such additional covenant, such supplemental
indenture may provide for a particular period of grace after default (which period may be shorter
or longer than that allowed in the case of other defaults) or may provide for an immediate
enforcement upon such an Event of Default or may limit the remedies available to the

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Trustee upon
such an Event of Default or may limit the right of the Holders of a majority in aggregate principal
amount of the Securities of such series, to waive such an Event of Default; or

     (3) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee
with respect to the Securities of one or more series and to add or change any of the provisions of
this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
under this Indenture by more than one Trustee, pursuant to the requirements of Section 610; or

     (4) to add any additional Events of Default with respect to all or any series of Securities
(as shall be specified in such supplemental indenture); or

     (5) to supplement any of the provisions of this Indenture to such extent as shall be necessary
for the defeasance and discharge of any series of Securities pursuant to Article Four;
provided that any such action shall not adversely affect the interests of any Holder of an
Outstanding Security of such series or any other Security in any material respect; or

     (6) to add guarantees in respect of the Securities of one or more series and to provide for
the terms and conditions of the release thereof; or

     (7) to convey, transfer, assign, mortgage or pledge to the Trustee as security for the
Securities of one or more series any property or assets and to provide for the terms and conditions
of any release thereof; or

     (8) to provide for Definitive Securities in addition to or in place of Global Securities; or

     (9) to qualify this Indenture under the Trust Indenture Act; or

     (10) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, to conform the text of this Indenture or
the Securities of any series to any provision of the section entitled “Description of Notes” in the
Offering Memorandum to the extent that such provision in the section entitled “Description of
Notes” was intended to be a verbatim recitation of a provision of this Indenture or the Securities
of such series, or to make any other provisions with respect to matters or questions arising under
this Indenture; provided that no action pursuant to this clause (10) shall adversely affect
the interests of the Holders of Securities of such series then Outstanding in any material respect;
or

     (11) to provide for the issuance of Additional Securities of such series in accordance with
the limitations set forth in this Indenture; or

     (12) to make any other change that does not adversely affect the rights of Holders of
Outstanding Securities in any material respect.

     The Trustee is hereby required to join with the Company and any guarantors in the execution of
any such supplemental indenture, to make any further appropriate agreements and stipulations which
may be therein contained and to accept the conveyance, transfer, assignment,

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mortgage or pledge of
any property thereunder, but the Trustee shall not be obligated to enter into any such or
supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

Section 902 With Consent of Holders.

     With the consent of the Holders of a majority in aggregate principal amount of the Outstanding
Securities of each series affected by such supplemental indenture (including consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Securities of such series) by
Act of said Holders delivered to the Company and the Trustee, the Company (when authorized by or
pursuant to a Board Resolution) and the Trustee may enter into an indenture supplemental hereto for
the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities
of such series under this Indenture or under the Securities of such series; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of
each Security affected thereby,

     (1) change the Stated Maturity of the principal of, or a scheduled date for the payment of any
interest on, the Securities of such series, or reduce the principal amount thereof, or reduce the
rate or extend the time of payment of interest thereon, or reduce any premium payable on redemption
thereof or otherwise, or change the Place of Payment or currency in which the principal of, or any
premium or interest with respect to the Securities of such series, is payable, or impair or affect
the right of any Holder to institute suit for the enforcement of any payment of principal, premium,
or interest on or with respect to any Security of such series after the date that such payment has
become due and payable;

     (2) change the provisions of Section 1006; or

     (3) reduce the percentage in principal amount of the Outstanding Securities of such series,
the consent of the Holders of which is required for any such supplemental indenture, or the consent
of whose Holders is required for any waiver of certain defaults hereunder and their consequences
provided for in this Indenture, or reduce the requirements of Section 1204 for quorum or voting.

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

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

     Upon the request of the Company, accompanied by a copy of a Board Resolution authorizing the
execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of
the consent of Holders of Securities as aforesaid, the Trustee shall join with the Company and any
guarantors in the execution of such supplemental indenture unless

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such supplemental indenture
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which
case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

Section 903 Execution of Supplemental Indentures.

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

Section 904 Effect of Supplemental Indentures.

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

Section 905 Reference in Securities to Supplemental Indentures.

     Securities authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article Nine 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 such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding Securities.

Section 906 Conformity with Trust Indenture Act.

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

Section 907 Notice of Supplemental Indenture.

     Promptly after the execution by the Company and the Trustee of any supplemental indenture with
respect to the Securities of any series pursuant to Section 902, the Company shall
transmit to the Holders of Outstanding Securities of such series a notice setting forth the
substance of such supplemental indenture; provided that any failure to provide, or any
defect in any such notice, shall not impair the validity of any such supplemental indenture.

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ARTICLE TEN

COVENANTS

Section 1001 Payment of Principal, any Premium, and Interest.

     The Company covenants and agrees for the benefit of the Holders of the Securities of each
series that it will duly and punctually pay the principal of, and any premium, and interest on, the
Securities of such series in accordance with the terms thereof and this Indenture. Interest on the
Initial Securities of each series will accrue from the date of original issuance thereof.

     Unless otherwise provided in or pursuant to this Indenture, any interest on any Security of
any series which shall be payable, and is punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor
Securities) is registered as of the close of business on the Regular Record Date for such interest.

     The Company shall notify the Trustee within one Business Day after each day on which an event
occurs in respect of which Additional Interest is required to be paid.

Section 1002 Maintenance of Office or Agency.

     The Company shall maintain in each Place of Payment for the Securities of each series an
Office or Agency where the Securities of such series may be presented or surrendered for payment,
where the Securities of such series may be surrendered for registration of transfer or exchange,
and where notices and demands to or upon the Company in respect of the Securities of such series
and this Indenture may be served. The Company will give prompt written notice to the Trustee of
the location, and any change in the location, of such Office or Agency. If at any time the Company
shall fail to maintain any such required Office or Agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent
to receive all such presentations, surrenders, notices and demands.

     The Company may also from time to time designate one or more other Offices or Agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided, however, that no
such designation or rescission shall in any manner relieve the Company of its obligation to
maintain an Office or Agency in each Place of Payment for the Securities of each series for such
purposes. The Company shall give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other Office or Agency.

     Unless otherwise provided in or pursuant to this Indenture, the Company hereby designates as
the Place of Payment for each series of the Securities the Borough of Manhattan, The City of New
York, and initially appoints the Corporate Trust Office of The Bank of New York Mellon Trust
Company, N.A., acting through the corporate trust office of its affiliate, The Bank of New York
Mellon, located at 101 Barclay Street, New York, New York 10286, as the Office or Agency of the
Company in the Borough of Manhattan, The City of New York for such

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purpose. The Company may subsequently appoint a different Office or Agency in the Borough of
Manhattan, The City of New York for the Securities of any series.

Section 1003 Money for Securities Payments to Be Held in Trust.

     If the Company shall at any time act as its own Paying Agent with respect to the Securities of
any series, it shall, on or before each due date of the principal of or any premium or interest on
the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum in Dollars sufficient to pay the principal or any premium or interest so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and
shall promptly notify the Trustee of its failure so to act.

     Whenever the Company shall have one or more Paying Agents, it shall, on or prior to each due
date of the principal of, any premium or interest on the Securities of such series, deposit with
any Paying Agent a sum in Dollars sufficient to pay the principal or any premium or interest so
becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto, and
(unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its
failure so to act.

     The Company shall cause each Paying Agent with respect to the Securities of any series (other
than the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent
shall agree with the Trustee, subject to the provisions of this Section 1003, that such Paying
Agent shall:

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

     (2) 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 payment of principal, or any premium or interest on
the Securities of such series; and

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

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

     Except as otherwise provided herein or pursuant hereto, any money deposited with the Trustee
or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, or
any premium or interest on, any Security of any series and remaining unclaimed for two years after
such principal or any such premium or interest shall have become due and payable shall be paid to
the Company on Company Request, or (if then held by the Company)

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shall be discharged from such trust; and the Holder of such Security shall thereafter, as an
unsecured general creditor, look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the expense of the Company
either cause to be published once, in an Authorized Newspaper in each Place of Payment, or may
cause to be mailed once to Holders of the Securities of such series, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less than 30 days from the
date of such publication or mailing nor later than two years after such principal and any premium
or interest shall have become due and payable, any unclaimed balance of such money then remaining
will be repaid to the Company.

Section 1004 Limitation on Liens.

     The Company shall not, and shall not permit any Subsidiary of the Company to, issue, assume,
or guarantee any Indebtedness secured by a Lien, other than Permitted Liens, upon any of the
Company’s or any of the Company’s Subsidiaries’ property, now owned or hereafter acquired, unless
the Securities are equally and ratably secured with such Indebtedness until such time as such
Indebtedness is no longer secured by a Lien.

     Notwithstanding the preceding paragraph, the Company may, and may permit any Subsidiary of the
Company to, issue, assume or guarantee any Indebtedness secured by a Lien, other than a Permitted
Lien, without securing the Securities, provided that the aggregate principal amount of all
Indebtedness of the Company and any Subsidiary of the Company then outstanding secured by any such
Liens (other than Permitted Liens) does not exceed 15% of Consolidated Net Tangible Assets.

Section 1005 Company Statement as to Compliance.

     (1) If any Securities of any series are Outstanding under this Indenture, the Company shall
deliver to the Trustee, within 120 days after the end of each fiscal year, a written statement
(which need not be contained in or accompanied by an Officer’s Certificate) signed by the principal
executive officer, the principal financial officer or the principal accounting officer of the
Company, stating that

     (A) in the course of the performance of his or her duties as an Officer of the Company
he or she would normally have knowledge of any default by the Company in the performance of
the covenants contained in this Indenture, and

     (B) to his or her knowledge, the Company has complied with all the conditions and
covenants imposed on it under this Indenture throughout such year, or, if there has been a
noncompliance in the fulfillment of any such condition or covenant, specifying each such
noncompliance known to him or her and the nature and status thereof.

     (2) The Trustee shall have no duty to monitor the Company’s compliance with the covenants
contained in this Indenture other than to receive written notices described in Section 1005(1).

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Section 1006 Offer to Repurchase Upon Change of Control.

     (1) Upon the occurrence of a Change of Control that is accompanied by a Rating Decline with
respect to a series of Securities (together, a “Change of Control Triggering Event”), each
Holder of the Securities of such series will have the right to require the Company to offer to
repurchase all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof,
provided that the unpurchased portion of any Securities must be in a minimum denomination of
$2,000) of such Holder’s Securities of such series at a purchase price in cash equal to 101% of the
principal amount of such Securities plus accrued and unpaid interest, if any, to the date of
purchase.

     (2) Within 30 days following any Change of Control Triggering Event, the Company will mail a
notice (the “Change of Control Offer”) to each Holder of Securities of such series with a
copy to the Trustee stating:

     (A) that a Change of Control Triggering Event has occurred and that such Holder has the
right to require the Company to purchase such Holder’s Securities at a purchase price in
cash equal to 101% of the principal amount of such Securities plus accrued and unpaid
interest, if any, to the date of purchase (the “Change of Control Payment”);

     (B) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed and which may be up to five days after the expiration of
the Change of Control Offer) (the “Change of Control Payment Date”); and

     (C) the procedures determined by the Company, consistent with this Indenture, that a
Holder must follow in order to have its Securities repurchased.

     (3) On the Change of Control Payment Date the Company will, to the extent lawful:

     (A) accept for payment all Securities or portions thereof (in integral multiples of
$1,000 or an integral multiple of $1,000 in excess thereof; provided that the unpurchased
portion of any Security must be in a minimum denomination of $2,000) properly tendered and
not withdrawn under the Change of Control Offer;

     (B) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Securities or portions thereof so tendered; and

     (C) deliver or cause to be delivered to the Trustee the Securities so accepted together
with an Officer’s Certificate stating the aggregate principal amount of such Securities or
portions thereof being purchased by the Company.

     (4) The Paying Agent will promptly mail or otherwise deliver to each Holder of Securities so
tendered the Change of Control Payment for such Securities, and the Trustee will promptly
authenticate and mail (or cause to be transferred by book entry) to each Holder a new Security of
the applicable series equal in principal amount to any unpurchased portion of the Securities of the
applicable series surrendered, if any; provided that each such new Security of

75

 

the applicable series will be in a principal amount of $2,000 or an integral multiple of
$1,000 in excess thereof.

     (5) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Securities as a result of a Change in Control.
To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 1006, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under this Section 1006 by
virtue of such compliance.

     (6) If the Change of Control Payment Date is on or after an interest record date and on or
before the related Interest Payment Date for the Securities of a series, accrued and unpaid
interest, if any, will be paid to the Person in whose name such Security is registered at the close
of business on such record date, and no additional interest will be payable to Holders who tender
pursuant to the Change of Control Offer.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

Section 1101 Optional Redemption.

     (1) The Securities of any series may be redeemed, in whole or in part, at the option of the
Company pursuant to the terms set forth in the first paragraph of Section 2 of the Securities of
such series. The Company shall give the Trustee notice of the related Redemption Price promptly
after the determination thereof and the Trustee shall have no responsibility for determining such
Redemption Price.

     (2) The Company may, at any time on or after October 15, 2021, redeem the 2022 Notes, in whole
or in part, at a Redemption Price equal to 100% of the principal amount to be redeemed, plus
accrued and unpaid interest thereon to but excluding the Redemption Date.

Section 1102 Election or Obligation to Redeem; Notice to Trustee.

     The election pursuant to Section 1101 of the Company to optionally redeem the Securities of
any series shall be evidenced by or pursuant to a Board Resolution. In case of any redemption of
the Securities of any series, the Company shall, at least 45 days prior to the Redemption Date
fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date and of the principal amount of the Securities of such series to be
redeemed. In the case of any redemption of Securities of any series that is subject to, or is
required to occur upon compliance with, a condition specified in the terms of the Securities of
such series or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s
Certificate evidencing compliance with such condition.

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Section 1103 Selection by Trustee of Securities to be Redeemed.

     If less than all of 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; provided, however, that no such
partial redemption shall reduce the portion of the principal amount of a Security not redeemed to
less than $2,000.

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

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

Section 1104 Notice of Redemption.

     Notice of redemption shall be given in the manner provided in Section 106, not less than 30
nor more than 60 days prior to the Redemption Date, to the Holders of Securities to be redeemed.
Failure to give notice by mailing in the manner herein provided to the Holder of any Securities
designated for redemption as a whole or in part, or any defect in the notice to any such Holder,
shall not affect the validity of the proceedings for the redemption of any other Securities or
portion thereof.

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

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

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

77

 

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

     (6) the place or places where such Securities are to be surrendered for payment of the
Redemption Price and any accrued interest pertaining thereto, and

     (7) the CUSIP number (or any other numbers used by a Depositary to identify such Securities).

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

Section 1105 Deposit of Redemption Price.

     At or prior to 10:00 a.m., New York City time, on any Redemption Date, the Company shall
deposit, with respect to the Securities of any series called for redemption pursuant to Section
1104, with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of money in Dollars
sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) any accrued interest on all such Securities or portions thereof which are to be
redeemed on that date.

Section 1106 Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities of any series 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 and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such Security for redemption in accordance with said notice, such Security shall
be paid by the Company at the Redemption Price, together with any accrued interest to the
Redemption Date; provided, however, that, installments of interest on Securities of
such series whose Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities registered as such at the close of business on the Regular Record Dates
therefor according to their terms and the provisions of Article Ten.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium, until paid, shall bear interest from the Redemption Date
at the rate prescribed therefor in the Security of such series.

Section 1107 Securities Redeemed in Part.

     Any Security which is to be redeemed only in part shall be surrendered at any Office or Agency
for such Security (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

78

 

without service charge, a new Security or Securities of the same series, containing identical
terms and provisions, of any authorized denomination as requested by such Holder in aggregate
principal amount equal to and in exchange for the unredeemed portion of the principal amount of the
Security so surrendered. If a Global Security is so surrendered, the Company shall execute, and
the Trustee shall authenticate and deliver to or on behalf of the Depositary for such Global
Security as shall be specified in the Company Order with respect thereto to the Trustee, without
service charge, a new Global Security in a denomination equal to and in exchange for the unredeemed
portion of the principal of the Global Security so surrendered.

Section 1108 Repurchases on the Open Market.

     The Company or any Affiliate of the Company may at any time or from time to time repurchase
any of the Securities in the open market or otherwise. Such Securities may, at the option of the
Company or the relevant Affiliate of the Company, be held, resold or surrendered to the Trustee for
cancellation.

ARTICLE TWELVE

MEETINGS OF HOLDERS OF SECURITIES

Section 1201 Purposes for Which Meetings May Be Called.

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

Section 1202 Call, Notice and Place of Meetings.

     (1) The Trustee may at any time call a meeting of Holders of Securities of any series for any
purpose specified in Section 1201, to be held at such time and at such place in the Borough of
Manhattan, The City of New York. Notice of every meeting of Holders of Securities of any series
setting forth the time and the place of such meeting and in general terms the action proposed to be
taken at such meeting, shall be given, in the manner provided in Section 106, not less than 21 nor
more than 180 days prior to the date fixed for the meeting.

     (2) In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of
at least 10% in principal amount of the Outstanding Securities of any series shall have requested
the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified
in Section 1201, by written request setting forth in reasonable detail the action proposed to be
taken at the meeting, and the Trustee shall not have mailed notice of such meeting within 21 days
after receipt of such request or shall not thereafter proceed to cause the meeting to be held as
provided herein, then the Company or the Holders of Securities of such series in the amount above
specified, as the case may be, may determine the time and the place in the Borough of Manhattan,
The City of New York for such meeting and may call such meeting for such purposes by giving notice
thereof as provided in clause (1) of this Section 1202.

79

 

Section 1203 Persons Entitled to Vote at Meetings.

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

Section 1204 Quorum; Action.

     The Persons entitled to vote a majority in principal amount of the Outstanding Securities of
any series shall constitute a quorum for a meeting of Holders of Securities of such series;
provided, however, that if any action is to be taken at such meeting with respect
to a consent or waiver which this Indenture expressly provides may be given by the Holders of a
different percentage in principal amount of the Outstanding Securities of such series, the Persons
entitled to vote such percentage in principal amount of the Outstanding Securities of such series
shall constitute a quorum. In the absence of a quorum within 30 minutes after the time appointed
for any such meeting, the meeting shall, if convened at the request of Holders of Securities of
such series, be dissolved. In any other case the meeting may be adjourned for a period of not less
than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting.
In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior
to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting
shall be given as provided in Section 1202(1), except that such notice need be given only once not
less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice
of the reconvening of an adjourned meeting with respect to any series of Securities shall state
expressly the percentage, as provided above, of the principal amount of the Outstanding Securities
of such series which shall constitute a quorum.

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

     Any resolution passed or decision taken at any meeting of Holders of Securities of a
particular series duly held in accordance with this Section 1204 shall be binding on all the
Holders of Securities of such series whether or not such Holders were present or represented at the
meeting.

80

 

Section 1205 Determination of Voting Rights; Conduct and Adjournment of Meetings.

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

     (2) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of Securities as
provided in Section 1202(2), in which case the Company or the Holders of Securities calling the
meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled
to vote a majority in principal amount of the Outstanding Securities of each series represented at
the meeting.

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

     (4) Any meeting of Holders of Securities of any series duly called pursuant to Section 1202 at
which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority
in principal amount of the Outstanding Securities of such series represented at the meeting; and
the meeting may be held as so adjourned without further notice.

Section 1206 Counting Votes and Recording Action of Meetings

     The vote upon any resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the permanent secretary of
the meeting their verified written reports in triplicate of all votes cast at the meeting. A
record, at least in triplicate, of the proceedings of each meeting of Holders of Securities of such
series shall be prepared by the permanent secretary of the meeting and there shall be attached to
said record the original reports of the inspectors of votes on any vote by ballot taken thereat and
affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice
of the meeting and showing that said notice was given as provided in

81

 

Section 1202 and, if applicable, Section 1204. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such copy shall be
delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to
have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be
conclusive evidence of the matters therein stated.

82

 

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

	 	 	 	 	 
	 	WPX ENERGY, INC.

 	 
	 	By:  	/s/ Rodney J. Sailor
 	 
	 	 	Name:  	Rodney J. Sailor 	 
	 	 	Title:  	Treasurer and Deputy Chief Financial Officer 	 
	 

Signature Page to Indenture

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST 

COMPANY, N.A., as Trustee

 	 
	 	By:  	/s/ Rafael Martinez
 	 
	 	 	Name:  	Rafael Martinez 	 
	 	 	Title:  	Senior Associate 	 
	 

Signature Page to Indenture

 

 

EXHIBIT A-1

[Form of Face of 2017 Note]

 

CUSIP/CINS ____________

5.250% Senior Note due 2017

			
	 	 	 
	No. ___
	 	$____________

WPX ENERGY, INC.

promises to pay to [CEDE & Co.]1 or registered assigns,

the principal sum of __________________________ DOLLARS [or such greater or lesser amount as is
indicated on the Schedule of Adjustments attached hereto] 2 on January 15,
2017.

Interest Payment Dates: January 15 and July 15

Regular Record Dates: January 1 and July 1

Dated: _______________

	 	 	 	 	 
	 	WPX ENERGY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

This is one of the 2017 Notes referred to

in the within-mentioned Indenture:

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

   as Trustee

 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 
	 

 

 

			
	1	 	Insert in Global Securities only
	 
	2	 	Insert in Global Securities only

A1-1

 

[THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933,
AS AMENDED, AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE
UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE
NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: (1)
REPRESENTS THAT (A) IT IS A QUALIFIED INSTITUTIONAL BUYER, AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT, (B) IT HAS ACQUIRED THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS
DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) (AN “IAI”);
(2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY, EXCEPT (A) TO WPX ENERGY,
INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 OF THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) TO AN IAI THAT, PRIOR TO SUCH TRANSFER,
FURNISHES TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING
TO THE REGISTRATION OF THE TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE
TRUSTEE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH OF THE CASES, IN
ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION; (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN
INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; AND (4) AGREES
THAT, BEFORE THE HOLDER OFFERS, SELLS, OR OTHERWISE TRANSFERS THIS SECURITY, WPX ENERGY, INC. MAY
REQUIRE THE HOLDER OF THIS SECURITY TO DELIVER A WRITTEN OPINION, CERTIFICATIONS AND/OR OTHER
INFORMATION THAT IT REASONABLY REQUIRES TO CONFIRM THAT SUCH PROPOSED TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES. AS USED IN THIS
SECURITY, THE TERMS “OFFSHORE TRANSACTION,” “U.S. PERSON” AND “UNITED STATES” HAVE THE MEANINGS
GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]3

[THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY
MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY
PERSON OTHER THAN THE DEPOSITARY OR A

 

			
	3	 	Insert in Restricted Global Securities or
Restricted Definitive Securities only.

A1-2

 

NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF
TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL SECURITY
SUBJECT OT THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.

UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO WPX ENERGY, INC. OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNED HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]4

 

			
	4	 	Insert in Global Securities only.

A1-3

 

[Form of Reverse of 2017 Note]

WPX ENERGY, INC.

5.250% Senior Note due 2017

     1. GENERAL

     This note is one of a duly authorized issue of 5.250% Senior Notes due 2017 (the “2017
Notes”) of the WPX Energy, Inc. (the “Company”, which term includes any successor
Person under the Indenture hereinafter referred to), issued under an Indenture, dated as of
November 14, 2011 (the “Indenture”), between the Company and The Bank of New York Mellon
Trust Company, N.A., as trustee (the “Trustee,” which term includes any successor trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is
hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of 2017 Notes and of the terms upon which
the 2017 Notes are, and are to be, authenticated and delivered. Terms defined in the Indenture
which are not defined herein are used with the meanings assigned to them in the Indenture. This
2017 Note is one of the series designated on the face hereof.

     The Company promises to pay interest on the principal amount of this 2017 Note at the rate of
5.250% per annum from November 14, 2011 until the Maturity of such principal. The Company will pay
interest semiannually on January 15 and July 15 of each year (each an “Interest Payment
Date”). Interest on the 2017 Notes will accrue from the most recent Interest Payment Date on
which interest has been paid or duly provided for or, if no interest has been paid or duly provided
for, from November 14, 2011; provided that if there is no existing default in the payment
of interest, and if this 2017 Note is authenticated between a regular record date set forth on the
face hereof (each a “Regular Record Date”) and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; provided,
further, that the first Interest Payment Date shall be July 15, 2012 and interest accrued
from November 14, 2011 shall be payable on such date. Further, the Company shall pay interest on
overdue principal and premium, if any, from time to time on demand at a rate equal to the interest
rate then in effect; it shall pay interest on overdue installments of interest (without regard to
any applicable grace periods) from time to time on demand at the same rate to the extent lawful.
Interest will be computed on the basis of a 360-day year of twelve 30-day months.

     If an Interest Payment Date, the Stated Maturity or a Redemption Date falls on a day that is
not a Business Day, payment of principal, premium, if any, and interest due on that date shall be
made on the next following day that is a Business Day and no interest shall accrue for the period
from and after the Interest Payment Date, Stated Maturity or such Redemption Date, as the case may
be, on the payment so deferred.

     2. OPTIONAL REDEMPTION

     Prior to Maturity, the 2017 Notes are subject to redemption upon not less than 30 or more than
60 days’ notice to the Holders of such 2017 Notes to be redeemed as provided in the Indenture, at
any time or from time to time, as a whole or in part, at the election of the Company, at a
redemption price (the “Redemption Price”) equal to the greater of: (i) 100% of the

A1-4

 

principal amount of the 2017 Notes being redeemed, plus accrued and unpaid interest to but
excluding the Redemption Date and (ii) as determined by the Quotation Agent, the sum of the present
values of the remaining scheduled payments of principal of and interest on the 2017 Notes to be
redeemed (not including any portion of payments of interest accrued as of the Redemption Date)
discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Adjusted Treasury Rate, plus 50 basis points plus accrued and unpaid
interest to but excluding the Redemption Date (provided that interest payments due on or prior to
the Redemption Date will be paid to the Holders of such 2017 Notes on the relevant record date). If
less than all the 2017 Notes are to be redeemed, selection of 2017 Notes for redemption will be
made by the Trustee by such method as the Trustee shall deem fair and appropriate. Unless the
Company defaults in payment of such Redemption Price, from and after the Redemption Date, the 2017
Notes or portions thereof called for redemption will cease to bear interest, and the Holders
thereof will have no right in respect of such 2017 Notes except the right to receive the Redemption
Price thereof. [In the event of redemption of this 2017 Note in part only, the Trustee will reduce
the Principal Amount hereof by endorsement on Schedule A hereto such that the Principal Amount
shown on Schedule A after such endorsement will reflect only the unredeemed portion
hereof.]5

     3. CHANGE OF CONTROL OFFER

     If a Change of Control occurs and is accompanied by a Rating Decline with respect to the 2017
Notes (together, a “Change of Control Triggering Event”), each Holder of such 2017 Notes will have
the right to require the Company to offer to repurchase all or any part (equal to $1,000 or an
integral multiple of $1,000 in excess thereof, provided that the unpurchased portion of any 2017
Note must be in a minimum denomination of $2,000) of such Holder’s 2017 Notes at a purchase price
in cash equal to 101% of the principal amount of such 2017 Notes plus accrued and unpaid interest,
if any, to the date of purchase. Within 30 days following any Change of Control Triggering Event,
the Company will mail a notice containing the information required by Section 1006(2) of the
Indenture to each Holder of 2017 Notes with a copy to the Trustee.

     4. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire indebtedness of this 2017
Note and (b) certain restrictive covenants upon compliance by the Company with certain conditions
set forth therein.

     5. DEFAULTS AND REMEDIES

     If an Event of Default with respect to the 2017 Notes shall occur and be continuing, the
principal of the 2017 Notes may be declared due and payable, or in the circumstances described in
the Indenture, shall automatically become due and payable, in the manner and with the effect
provided in the Indenture. At any time after such declaration of acceleration or automatic
acceleration with respect to the 2017 Notes has been made or has

 

			
	5	 	Insert in Global Securities only.

A1-5

 

occurred, but before a judgment or decree for payment of money has been obtained by the
Trustee as provided in the Indenture, if all Events of Default with respect to the 2017 Notes have
been cured or waived (other than the non-payment of principal of the 2017 Notes which has become
due solely by reason of such declaration of acceleration or automatic acceleration) then and in
every such case, the Holders of a majority in aggregate principal amount of the Outstanding 2017
Notes may, by written notice to the Company and to the Trustee, rescind and annul such declaration
or automatic acceleration and its consequences on behalf of all of the Holders of 2017 Notes, but
no such rescission or annulment shall extend to or affect any subsequent default or impair any
right consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holders of this 2017 Note
shall not have the right to institute any proceeding, judicial or otherwise, with respect to the
Indenture, or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless (a) such Holder shall have previously given the Trustee written notice of a continuing Event
of Default with respect to the 2017 Notes, (b) (i) in the case of an Event of Default specified in
clause (1), (2), (4) or (5) of Section 501 of the Indenture, Holders of not less than 25%, or (ii)
in the case of an Event of Default specified in clause (3) of Section 501 of the Indenture, Holders
of not less than a majority, in aggregate principal amount of the Outstanding 2017 Notes 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 Holders shall have offered the Trustee indemnity
satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in
compliance with such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of the 2017 Notes at the time Outstanding under the Indenture a
direction inconsistent with such request, and (e) the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity shall have failed to institute any such proceeding. The
foregoing shall not apply to certain suits described in the Indenture, including any suit
instituted by the Holder of this 2017 Note for the enforcement of any payment of principal hereof
or any premium or interest hereon on or after the respective due dates expressed or provided for
herein.

     6. NONIMPAIRMENT

     No reference herein to the Indenture and no provision of this 2017 Note or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of (and premium, if any) and interest, if any, on this 2017 Note at the times, place
and rate, and in the coin or currency, herein prescribed.

     7. DENOMINATIONS; TRANSFER AND EXCHANGE

     The 2017 Notes are in registered form in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. The transfer of 2017 Notes may be registered and 2017 Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The
Company need not exchange or register the transfer of any 2017 Note or portion of a 2017 Note
selected for redemption, except for the unredeemed portion of any 2017 Note being redeemed in part.

A1-6

 

     8. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the 2017 Notes and the
Indenture in accordance with the terms of the Indenture, the predecessor will be released from
those obligations, except in the case of a lease.

     9. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity, may become the owner
or pledgee of 2017 Notes and may otherwise deal with the Company, its Subsidiaries or their
respective Affiliates as if it were not the Trustee.

     10. AUTHENTICATION

     This 2017 Note will not be valid until authenticated by the manual signature of the Trustee or
the Authenticating Agent.

     11. NO RECOURSE AGAINST OTHERS

     Neither the Company nor any Affiliate, director, officer, partner, employee, incorporator,
manager or owner of Capital Stock of the Company, as such, will have any liability for any of the
Company’s obligations under the 2017 Notes, the Indenture, or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of a 2017 Note by accepting a
2017 Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the 2017 Notes.

     12. ADDITIONAL RIGHTS OF HOLDERS

     In addition to the rights provided to Holders of 2017 Notes under the Indenture, Holders of
this 2017 Note will have all the rights set forth in the Registration Rights Agreement dated as of
November 14, 2011, among the Company and the other parties named on the signature pages thereof,
including the right to Additional Interest as set forth therein, or, in the case of Additional 2017
Notes, Holders thereof will have the rights set forth in one or more registration rights
agreements, if any, among the Company and the other parties thereto, relating to rights given by
the Company to the purchasers of any Additional 2017 Notes (collectively, the “Registration
Rights Agreement”).

     13. CUSIP NUMBERS

     Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company will cause CUSIP numbers to be printed on the 2017 Notes as a convenience
to the Holders of 2017 Notes.

     14. GOVERNING LAW

     This 2017 Note shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made or instruments entered into and, in each case, performed in
said state.

A1-7

 

     15. AMENDMENT, SUPPLEMENT AND WAIVER

     Subject to certain exceptions, the Indenture or the 2017 Notes may be supplemented by an
indenture or indentures supplemental to the Indenture with the consent of the Holders of not less
than a majority in aggregate principal amount of the Outstanding 2017 Notes (including consents
obtained in connection with a purchase of, or tender offer or exchange offer for, 2017 Notes) and
any existing default or Event of Default may be waived with the consent of the Holders of not less
than a majority in aggregate principal amount of the Outstanding 2017 Notes. Without the consent
of any Holder of 2017 Notes, the Company and the Trustee, at any time and from time to time, may
enter into one or more supplemental indentures for any of the following purposes: (a) to evidence
the succession of another Person to the Company, and the assumption by any such successor of the
covenants of the Company contained in the Indenture, the 2017 Notes and the Registration Rights
Agreement, if applicable; or (b) to add to the covenants of the Company for the benefit of the
Holders of 2017 Notes (as shall be specified in such supplemental indenture or indentures) or to
surrender any right or power conferred upon the Company pursuant to the Indenture or the 2017
Notes; provided that in respect of any such additional covenant, such supplemental
indenture may provide for a particular period of grace after default (which period may be shorter
or longer than that allowed in the case of other defaults) or may provide for an immediate
enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon
such an Event of Default or may limit the right of the Holders of a majority in aggregate principal
amount of the 2017 Notes, to waive such an Event of Default; or (c) to evidence and provide for the
acceptance of appointment hereunder by a successor Trustee with respect to the 2017 Notes and to
add or change any of the provisions of the Indenture as shall be necessary to provide for or
facilitate the administration of the trusts under the Indenture by more than one Trustee, pursuant
to the requirements of Section 610 of the Indenture; or (d) to add any additional Events of Default
with respect to the 2017 Notes (as shall be specified in such supplemental indenture); or (e) to
supplement any of the provisions of the Indenture to such extent as shall be necessary for the
defeasance and discharge of the 2017 Notes pursuant to Article Four of the Indenture;
provided that any such action shall not adversely affect the interests of any Holder of an
Outstanding 2017 Notes in any material respect; or (f) to add guarantees in respect of the 2017
Notes and to provide for the terms and conditions of the release thereof; or (g) to convey,
transfer, assign, mortgage or pledge to the Trustee as security for the 2017 Notes any property or
assets and to provide for the terms and conditions of any release thereof; or (h) to provide for
Definitive Securities in addition to or in place of Global Securities; or (i) to qualify the
Indenture under the Trust Indenture Act; or (j) to cure any ambiguity, to correct or supplement any
provision in the Indenture which may be defective or inconsistent with any other provision
Indenture, to conform the text of the Indenture or the 2017 Notes to any provision of the section
entitled “Description of Notes” in the Offering Memorandum to the extent that such provision in
the section entitled “Description of Notes” was intended to be a verbatim recitation of a provision
of the Indenture or the 2017 Notes, or to make any other provisions with respect to matters or
questions arising under the Indenture; provided that no action pursuant to this clause (j)
shall adversely affect the interests of the Holders of the 2017 Notes then Outstanding in any
material respect; or (k) to provide for the issuance of Additional 2017 Notes in accordance with
the limitations set forth in the Indenture; or (l) to make any other change that does not adversely
affect the rights of Holders of Outstanding 2017 Notes in any material respect.

A1-8

 

SCHEDULE A

[SCHEDULE OF ADJUSTMENTS]6

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal Amount	 	 	Notification Made	 
	 	 	Principal Amount	 	 	Principal Amount	 	 	Following	 	 	on Behalf of the	 
	Date Adjustment Made	 	Increase	 	 	Decrease	 	 	Adjustment	 	 	Trustee	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	6	 	Insert in Global Securities only

A1-9

 

EXHIBIT A-2

[Form of Face of 2022 Note]

 

CUSIP/CINS ____________

6.000% Senior Note due 2022

			
	No. ___
	 	$____________

WPX
ENERGY, INC.

promises to pay to [CEDE &
Co.]7
or registered assigns, the principal sum of __________________________ DOLLARS [or such greater or lesser amount as is
indicated on the Schedule of Adjustments attached
hereto]8 on January 15,
2022.

Interest Payment Dates: January 15 and July 15

Regular Record Dates: January 1 and July 1

Dated: _______________

	 	 	 	 	 
	 	WPX ENERGY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

This is one of the 2022 Notes referred to in the within-mentioned Indenture:

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

   as Trustee

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 
	 

 

 

			
	7	 	Insert in Global Securities only
	 
	8	 	Insert in Global Securities only

A2-1

 

[THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933,
AS AMENDED, AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE
UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE
NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: (1)
REPRESENTS THAT (A) IT IS A QUALIFIED INSTITUTIONAL BUYER, AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT, (B) IT HAS ACQUIRED THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS
DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) (AN “IAI”);
(2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY, EXCEPT (A) TO WPX ENERGY,
INC. OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 OF THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) TO AN IAI THAT, PRIOR TO SUCH TRANSFER,
FURNISHES TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING
TO THE REGISTRATION OF THE TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE
TRUSTEE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH OF THE CASES, IN
ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION; (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN
INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; AND (4) AGREES
THAT, BEFORE THE HOLDER OFFERS, SELLS, OR OTHERWISE TRANSFERS THIS SECURITY, WPX ENERGY, INC. MAY
REQUIRE THE HOLDER OF THIS SECURITY TO DELIVER A WRITTEN OPINION, CERTIFICATIONS AND/OR OTHER
INFORMATION THAT IT REASONABLY REQUIRES TO CONFIRM THAT SUCH PROPOSED TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES. AS USED IN THIS
SECURITY, THE TERMS “OFFSHORE TRANSACTION,” “U.S. PERSON” AND “UNITED STATES” HAVE THE MEANINGS
GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES
ACT.]9

[THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY
MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY
PERSON OTHER THAN THE DEPOSITARY OR A

 

			
	9	 	Insert in Restricted Global Securities or
Restricted Definitive Securities only.

A2-2

 

NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF
TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL SECURITY
SUBJECT OT THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.

UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO WPX ENERGY, INC. OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNED HEREOF, CEDE & CO., HAS AN
INTEREST
HEREIN.]10

 

			
	10	 	Insert in Global Securities only.

A2-3

 

[Form of Reverse of 2022 Note]

WPX ENERGY, INC.

6.000% Senior Note due 2022

     1. GENERAL

     This note is one of a duly authorized issue of 6.000% Senior Notes due 2022 (the “2022
Notes”) of WPX Energy, Inc. (the “Company”, which term includes any successor Person under the
Indenture hereinafter referred to), issued under an Indenture, dated as of November 14, 2011 (the
“Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as
trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of 2022 Notes and of the terms upon which the 2022 Notes are, and are to
be, authenticated and delivered. Terms defined in the Indenture which are not defined herein are
used with the meanings assigned to them in the Indenture. This 2022 Note is one of the series
designated on the face hereof.

     The Company promises to pay interest on the principal amount of this 2022 Note at the rate of
6.000% per annum from November 14, 2011 until the Maturity of such principal. The Company will pay
interest semiannually on January 15 and July 15 of each year (each an “Interest Payment
Date”). Interest on the 2022 Notes will accrue from the most recent Interest Payment Date on
which interest has been paid or duly provided for or, if no interest has been paid or duly provided
for, from November 14, 2011; provided that if there is no existing default in the payment
of interest, and if this 2022 Note is authenticated between a regular record date set forth on the
face hereof (each a “Regular Record Date”) and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; provided,
further, that the first Interest Payment Date shall be July 15, 2012 and interest accrued
from November 14, 2011 shall be payable on such date. Further, the Company shall pay interest on
overdue principal and premium, if any, from time to time on demand at a rate equal to the interest
rate then in effect; it shall pay interest on overdue installments of interest (without regard to
any applicable grace periods) from time to time on demand at the same rate to the extent lawful.
Interest will be computed on the basis of a 360-day year of twelve 30-day months.

     If an Interest Payment Date, the Stated Maturity or a Redemption Date falls on a day that is
not a Business Day, payment of principal, premium, if any, and interest due on that date shall be
made on the next following day that is a Business Day and no interest shall accrue for the period
from and after the Interest Payment Date, Stated Maturity or such Redemption Date, as the case may
be, on the payment so deferred.

     2. OPTIONAL REDEMPTION

     Prior to October 15,2021, the 2022 Notes are subject to redemption upon not less than 30 or
more than 60 days’ notice to the Holders of such 2022 Notes to be redeemed as provided in the
Indenture, at any time or from time to time, as a whole or in part, at the election of the Company,
at a redemption price (the “Redemption Price”) equal to the greater of: (i) 100%

A2-4

 

of the principal amount of the 2022 Notes being redeemed, plus accrued and unpaid interest to
but excluding the Redemption Date and (ii) as determined by the Quotation Agent, the sum of the
present values of the remaining scheduled payments of principal of and interest on the 2022 Notes
to be redeemed (not including any portion of payments of interest accrued as of the Redemption
Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting
of twelve 30-day months) at the Adjusted Treasury Rate, plus 50 basis points plus accrued and
unpaid interest to but excluding the Redemption Date (provided that interest payments due on or
prior to the Redemption Date will be paid to the Holders of such 2022 Notes on the relevant record
date). The Company may redeem the 2022 Notes, at any time on or after October 15, 2021, in whole
or in part, at a Redemption Price equal to 100% of the principal amount of the 2022 Notes to be
redeemed, plus accrued and unpaid interest thereon to but excluding the Redemption Date. If less
than all the 2022 Notes are to be redeemed, selection of 2022 Notes for redemption will be made by
the Trustee by such method as the Trustee shall deem fair and appropriate. Unless the Company
defaults in payment of such Redemption Price, from and after the Redemption Date, the 2022 Notes or
portions thereof called for redemption will cease to bear interest, and the Holders thereof will
have no right in respect of such 2022 Notes except the right to receive the Redemption Price
thereof. [In the event of redemption of this 2022 Note in part only, the Trustee will reduce the
Principal Amount hereof by endorsement on Schedule A hereto such that the Principal Amount shown on
Schedule A after such endorsement will reflect only the unredeemed portion
hereof.]11

     3. CHANGE OF CONTROL OFFER

     If a Change of Control occurs and is accompanied by a Rating Decline with respect to the 2022
Notes (together, a “Change of Control Triggering Event”), each Holder of such 2022 Notes will have
the right to require the Company to offer to repurchase all or any part (equal to $1,000 or an
integral multiple of $1,000 in excess thereof, provided that the unpurchased portion of any 2022
Note must be in a minimum denomination of $2,000) of such Holder’s 2022 Notes at a purchase price
in cash equal to 101% of the principal amount of such 2022 Notes plus accrued and unpaid interest,
if any, to the date of purchase. Within 30 days following any Change of Control Triggering Event,
the Company will mail a notice containing the information required by Section 1006(2) of the
Indenture to each Holder of 2022 Notes with a copy to the Trustee.

     4. DEFEASANCE

     The Indenture contains provisions for defeasance of (a) the entire indebtedness of this 2022
Note and (b) certain restrictive covenants upon compliance by the Company with certain conditions
set forth therein.

     5. DEFAULTS AND REMEDIES

     If an Event of Default with respect to the 2022 Notes shall occur and be continuing, the
principal of the 2022 Notes may be declared due and payable, or in the

 

			
	11	 	Insert in Global Securities only.

A2-5

 

circumstances described in the Indenture, shall automatically become due and payable, in the
manner and with the effect provided in the Indenture. At any time after such declaration of
acceleration or automatic acceleration with respect to the 2022 Notes has been made or has
occurred, but before a judgment or decree for payment of money has been obtained by the Trustee as
provided in the Indenture, if all Events of Default with respect to the 2022 Notes have been cured
or waived (other than the non-payment of principal of the 2022 Notes which has become due solely by
reason of such declaration of acceleration or automatic acceleration) then and in every such case,
the Holders of a majority in aggregate principal amount of the Outstanding 2022 Notes may, by
written notice to the Company and to the Trustee, rescind and annul such declaration or automatic
acceleration and its consequences on behalf of all of the Holders of 2022 Notes, but no such
rescission or annulment shall extend to or affect any subsequent default or impair any right
consequent thereon.

     As provided in and subject to the provisions of the Indenture, the Holders of this 2022 Note
shall not have the right to institute any proceeding, judicial or otherwise, with respect to the
Indenture, or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless (a) such Holder shall have previously given the Trustee written notice of a continuing Event
of Default with respect to the 2022 Notes, (b) (i) in the case of an Event of Default specified in
clause (1), (2), (4) or (5) of Section 501 of the Indenture, Holders of not less than 25%, or (ii)
in the case of an Event of Default specified in clause (3) of Section 501 of the Indenture, Holders
of not less than a majority, in aggregate principal amount of the Outstanding 2022 Notes 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 Holders shall have offered the Trustee indemnity
satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in
compliance with such request, (d) the Trustee shall not have received from the Holders of a
majority in principal amount of the 2022 Notes at the time Outstanding under the Indenture a
direction inconsistent with such request, and (e) the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity shall have failed to institute any such proceeding. The
foregoing shall not apply to certain suits described in the Indenture, including any suit
instituted by the Holder of this 2022 Note for the enforcement of any payment of principal hereof
or any premium or interest hereon on or after the respective due dates expressed or provided for
herein.

     6. NONIMPAIRMENT

     No reference herein to the Indenture and no provision of this 2022 Note or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of (and premium, if any) and interest, if any, on this 2022 Note at the times, place
and rate, and in the coin or currency, herein prescribed.

     7. DENOMINATIONS; TRANSFER AND EXCHANGE

     The 2022 Notes are in registered form in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. The transfer of 2022 Notes may be registered and 2022 Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or

A2-6

 

permitted by the Indenture. The Company need not exchange or register the transfer of any
2022 Note or portion of a 2022 Note selected for redemption, except for the unredeemed portion of
any 2022 Note being redeemed in part.

     8. SUCCESSOR OBLIGORS

     When a successor assumes all the obligations of its predecessor under the 2022 Notes and the
Indenture in accordance with the terms of the Indenture, the predecessor will be released from
those obligations, except in the case of a lease.

     9. TRUSTEE DEALINGS WITH THE COMPANY

     The Trustee under the Indenture, in its individual or any other capacity, may become the owner
or pledgee of 2022 Notes and may otherwise deal with the Company, its Subsidiaries or their
respective Affiliates as if it were not the Trustee.

     10. AUTHENTICATION

     This 2022 Note will not be valid until authenticated by the manual signature of the Trustee or
the Authenticating Agent.

     11. NO RECOURSE AGAINST OTHERS

     Neither the Company nor any Affiliate, director, officer, partner, employee, incorporator,
manager or owner of Capital Stock of the Company, as such, will have any liability for any of the
Company’s obligations under the 2022 Notes, the Indenture, or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of a 2022 Note by accepting a
2022 Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the 2022 Notes.

     12. ADDITIONAL RIGHTS OF HOLDERS

     In addition to the rights provided to Holders of 2022 Notes under the Indenture, Holders of
this 2022 Note will have all the rights set forth in the Registration Rights Agreement dated as of
November 14, 2011, among the Company and the other parties named on the signature pages thereof,
including the right to Additional Interest as set forth therein, or, in the case of Additional 2022
Notes, Holders thereof will have the rights set forth in one or more registration rights
agreements, if any, among the Company and the other parties thereto, relating to rights given by
the Company to the purchasers of any Additional 2022 Notes
(collectively, the “Registration
Rights Agreement”).

     13. CUSIP NUMBERS

     Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company will cause CUSIP numbers to be printed on the 2022 Notes as a convenience
to the Holders of 2022 Notes.

A2-7

 

     14. GOVERNING LAW

     This 2022 Note shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made or instruments entered into and, in each case, performed in
said state.

     15. AMENDMENT, SUPPLEMENT AND WAIVER

     Subject to certain exceptions, the Indenture or the 2022 Notes may be supplemented by an
indenture or indentures supplemental to the Indenture with the consent of the Holders of not less
than a majority in aggregate principal amount of the Outstanding 2022 Notes (including consents
obtained in connection with a purchase of, or tender offer or exchange offer for, 2022 Notes) and
any existing default or Event of Default may be waived with the consent of the Holders of not less
than a majority in aggregate principal amount of the Outstanding 2022 Notes. Without the consent
of any Holder of 2022 Notes, the Company and the Trustee, at any time and from time to time, may
enter into one or more supplemental indentures for any of the following purposes: (a) to evidence
the succession of another Person to the Company, and the assumption by any such successor of the
covenants of the Company contained in the Indenture, the 2022 Notes and the Registration Rights
Agreement, if applicable; or (b) to add to the covenants of the Company for the benefit of the
Holders of 2022 Notes (as shall be specified in such supplemental indenture or indentures) or to
surrender any right or power conferred upon the Company pursuant to the Indenture or the 2022
Notes; provided that in respect of any such additional covenant, such supplemental
indenture may provide for a particular period of grace after default (which period may be shorter
or longer than that allowed in the case of other defaults) or may provide for an immediate
enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon
such an Event of Default or may limit the right of the Holders of a majority in aggregate principal
amount of the 2022 Notes, to waive such an Event of Default; or (c) to evidence and provide for the
acceptance of appointment hereunder by a successor Trustee with respect to the 2022 Notes and to
add or change any of the provisions of the Indenture as shall be necessary to provide for or
facilitate the administration of the trusts under the Indenture by more than one Trustee, pursuant
to the requirements of Section 610 of the Indenture; or (d) to add any additional Events of Default
with respect to the 2022 Notes (as shall be specified in such supplemental indenture); or (e) to
supplement any of the provisions of the Indenture to such extent as shall be necessary for the
defeasance and discharge of the 2022 Notes pursuant to Article Four of the Indenture;
provided that any such action shall not adversely affect the interests of any Holder of an
Outstanding 2022 Notes in any material respect; or (f) to add guarantees in respect of the 2022
Notes and to provide for the terms and conditions of the release thereof; or (g) to convey,
transfer, assign, mortgage or pledge to the Trustee as security for the 2022 Notes any property or
assets and to provide for the terms and conditions of any release thereof; or (h) to provide for
Definitive Securities in addition to or in place of Global Securities; or (i) to qualify the
Indenture under the Trust Indenture Act; or (j) to cure any ambiguity, to correct or supplement any
provision in the Indenture which may be defective or inconsistent with any other provision
Indenture, to conform the text of the Indenture or the 2022 Notes to any provision of the section
entitled “Description of Notes” in the Offering Memorandum to the extent that such provision in
the section entitled “Description of Notes” was intended to be a verbatim recitation of a provision
of the Indenture or the 2022 Notes, or to make any other provisions with respect to matters or
questions arising

A2-8

 

under the Indenture; provided that no action pursuant to this clause (j) shall
adversely affect the interests of the Holders of the 2022 Notes then Outstanding in any material
respect; or (k) to provide for the issuance of Additional 2022 Notes in accordance with the
limitations set forth in the Indenture; or (l) to make any other change that does not adversely
affect the rights of Holders of Outstanding 2022 Notes in any material respect.

A2-9

 

SCHEDULE A

[SCHEDULE OF ADJUSTMENTS]12

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 	Notification Made
	 	 	Principal Amount	 	Principal Amount	 	Following	 	on Behalf of the
	Date Adjustment Made	 	Increase	 	Decrease	 	Adjustment	 	Trustee
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 

 

			
	12	 	Insert in Global Securities only

A2-10

 

EXHIBIT
B

FORM OF
CERTIFICATE OF TRANSFER

WPX Energy, Inc.

     One Williams Center

     Tulsa, Oklahoma 74172

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

     601 Travis Street, 16th Floor

     Houston, Texas, 77002

			
	Re:	 	[5.250% Senior Notes due 2017]

[6.000% Senior Notes due 2022]

     Reference is hereby made to the Indenture, dated as of November 14, 2011 (the
“Indenture”), between WPX Energy, Inc., as issuer (the “Company”) and The Bank of
New York Mellon Trust Company, N.A., as trustee. Capitalized terms used but not defined herein
shall have the meanings given to them in the Indenture.

     ___________________, (the “Transferor”) owns and proposes to transfer the 20[ ]
Note[s] or interest in such 20[ ]_ Note[s] specified in Annex A hereto, in the principal amount of
$___________ in such 20[ ] Note[s] or interests (the “Transfer”), to
___________________________ (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that:

[CHECK ALL THAT APPLY]

     1. Check if Transferee will take delivery of a beneficial interest in a 144A Global
Security or a Restricted Definitive Security pursuant to Rule 144A. The Transfer is being
effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Security is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Security for its own
account, or for one or more accounts with respect to which such Person exercises sole investment
discretion, and such Person and each such account is a “qualified institutional buyer” within the
meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is
in compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Security will be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the applicable 144A Global Security
and/or the Restricted Definitive Security and in the Indenture and the Securities Act.

     2. Check if Transferee will take delivery of a beneficial interest in a Regulation S
Global Security or a Restricted Definitive Security pursuant to Regulation S. The Transfer is
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act
and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made
to a Person in the United States and (x) at the time the buy order was originated, the Transferee
was outside the United States or such Transferor and any Person acting on its behalf reasonably
believed and believes that the Transferee was outside the United States or (y) the transaction was
executed in, on or through the facilities of a designated offshore securities market and neither
such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with
a buyer in the United States, (ii) no directed selling efforts have been made in contravention of
the requirements of Rule 903(b) or Rule 904(b) of Regulation

B-1

 

S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act and (iv) if the proposed transfer is being made
prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person
or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Security will be subject to the restrictions on
Transfer enumerated in the Private Placement Legend printed on the appropriate Regulation S Global
Security and/or the Restricted Definitive Security and in the Indenture and the Securities Act.

     3. Check and complete if Transferee will take delivery of a beneficial interest in an
IAI Global Security or a Restricted Definitive Security pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with
the transfer restrictions applicable to beneficial interests in Restricted Global Securities and
Restricted Definitive Securities and pursuant to and in accordance with the Securities Act and any
applicable blue sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one):

     (a) such Transfer is being effected pursuant to and in accordance with Rule 144 under
the Securities Act;

or

     (b) such Transfer is being effected to the Company or a subsidiary thereof;

or

     (c) such Transfer is being effected pursuant to an effective registration statement
under the Securities Act and in compliance with the prospectus delivery requirements of
the Securities Act;

or

     (d) such Transfer is being effected to an Institutional Accredited Investor and
pursuant to an exemption from the registration requirements of the Securities Act other
than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further
certifies that it has not engaged in any general solicitation within the meaning of
Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Security or
Restricted Definitive Securities and the requirements of the exemption claimed, which
certification is supported by (1) a certificate executed by the Transferee in the form of
Exhibit D to the Indenture and (2) an Opinion of Counsel provided by the Transferor or the
Transferee (a copy of which the Transferor has attached to this certification), to the
effect that such Transfer is in compliance with the Securities Act. Upon consummation of
the proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Security will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the appropriate IAI Global Security
and/or the Restricted Definitive Securities and in the Indenture and the Securities Act.

     4. Check if Transferee will take delivery of a beneficial interest in an Unrestricted
Global Security or of an Unrestricted Definitive Security.

B-2

 

     (a) Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant
to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any state of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Security will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Securities, on Restricted Definitive Securities and in the Indenture.

     (b) Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance
with the transfer restrictions contained in the Indenture and any applicable blue sky securities
laws of any state of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with
the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Security will no longer be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Global Securities, on Restricted Definitive Securities and in the Indenture.

     (c) Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected
pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Security will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities or
Restricted Definitive Securities and in the Indenture.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	[Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: _______________________

B-3

 

ANNEX A TO CERTIFICATE OF TRANSFER

1. The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

     (a) a beneficial interest in the:

     (i) 144A Global Security (CUSIP _________), or

     (ii) Regulation S Global Security (CUSIP _________); or

     (iii) IAI Global Security (CUSIP _________); or

     (b) a Restricted Definitive Security.

2. After the Transfer the Transferee will hold:

[CHECK ONE]

     (a) a beneficial interest in the:

     (i) 144A Global Security (CUSIP _________), or

     (ii) Regulation S Global Security (CUSIP _________), or

     (iii) IAI Global Security (CUSIP _________); or

     (iv) Unrestricted Global Security (CUSIP _________); or

     (b) a Restricted Definitive Security; or

     (c) an
Unrestricted Definitive Security, in accordance with the terms of the Indenture.

B-4

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

WPX Energy, Inc.

     One Williams Center

      Tulsa, Oklahoma 74172

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

     601 Travis Street, 16th Floor

      Houston, Texas, 77002

			
	Re: 	  [5.250% Senior Notes due 2017]

  [6.000% Senior Notes due 2022]	 

     Reference is hereby made to the Indenture, dated as of November 14, 2011 (the
“Indenture”), between WPX Energy, Inc., as issuer (the “Company”) and The Bank of
New York Mellon Trust Company, N.A., as trustee. Capitalized terms used but not defined herein
shall have the meanings given to them in the Indenture.

     __________________________, (the “Owner”) owns and proposes to exchange the 20[ ]
Note[s] or interest in such 20[ ] Note[s] specified herein, in the principal amount of
$____________ in such 20[ ] Note[s] or interests (the “Exchange”). In connection with
the Exchange, the Owner hereby certifies that:

     1. Exchange of Restricted Definitive Securities or Beneficial Interests in a Restricted
Global Security for Unrestricted Definitive Securities or Beneficial Interests in an Unrestricted
Global Security

     (a) Check if Exchange is from beneficial interest in a Restricted Global Security to
beneficial interest in an Unrestricted Global Security. In connection with the Exchange of the
Owner’s beneficial interest in a Restricted Global Security for a beneficial interest in an
Unrestricted Global Security in an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the Global
Securities and pursuant to and in accordance with the Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act
and (iv) the beneficial interest in an Unrestricted Global Security is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States.

     (b) Check if Exchange is from beneficial interest in a Restricted Global Security to
Unrestricted Definitive Security. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Security for an Unrestricted Definitive Security, the Owner hereby
certifies (i) the Definitive Security is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Securities and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act and (iv)
the Definitive Security is being acquired in compliance with any applicable blue sky securities
laws of any state of the United States.

C-1

 

     (c) Check if Exchange is from Restricted Definitive Security to beneficial interest in an
Unrestricted Global Security. In connection with the Owner’s Exchange of a Restricted Definitive
Security for a beneficial interest in an Unrestricted Global Security, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii)
such Exchange has been effected in compliance with the transfer restrictions applicable to
Restricted Definitive Securities and pursuant to and in accordance with the Securities Act, (iii)
the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the beneficial interest
is being acquired in compliance with any applicable blue sky securities laws of any state of the
United States.

     (d) Check if Exchange is from Restricted Definitive Security to Unrestricted Definitive
Security. In connection with the Owner’s Exchange of a Restricted Definitive Security for an
Unrestricted Definitive Security, the Owner hereby certifies (i) the Unrestricted Definitive
Security is being acquired for the Owner’s own account without transfer, (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to Restricted Definitive
Securities and pursuant to and in accordance with the Securities Act, (iii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Security is being
acquired in compliance with any applicable blue sky securities laws of any state of the United
States.

     2. Exchange of Restricted Definitive Securities or Beneficial Interests in Restricted
Global Securities for Restricted Definitive Securities or Beneficial Interests in Restricted Global
Securities

     (a) Check if Exchange is from beneficial interest in a Restricted Global Security to
Restricted Definitive Security. In connection with the Exchange of the Owner’s beneficial interest
in a Restricted Global Security for a Restricted Definitive Security with an equal principal
amount, the Owner hereby certifies that the Restricted Definitive Security is being acquired for
the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance
with the terms of the Indenture, the Restricted Definitive Security issued will continue to be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Definitive Security and in the Indenture and the Securities Act.

     (b) Check if Exchange is from Restricted Definitive Security to beneficial interest in a
Restricted Global Security. In connection with the Exchange of the Owner’s Restricted Definitive
Security for a beneficial interest in the [CHECK ONE] 144A Global Security, Regulation S Global
Security IAI Global Security with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the
Restricted Global Securities and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the relevant Restricted Global Security and in the Indenture and the Securities
Act.

C-2

 

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	[Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: ______________________

C-3

 

EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

WPX Energy, Inc.

     One Williams Center

      Tulsa, Oklahoma 74172

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

     601 Travis Street, 16th Floor

      Houston, Texas, 77002

			
	 Re: 	   [5.250% Senior Notes due 2017 (CUSIP
____________)]

   [6.000% Senior Notes due 2022 (CUSIP ____________)]	 

     Reference is hereby made to the Indenture, dated as of November 14, 2011 (the
“Indenture”), between WPX Energy, Inc., as issuer (the “Company”) and The Bank of
New York Mellon Trust Company, N.A., as trustee. Capitalized terms used but not defined herein
shall have the meanings given to them in the Indenture.

     In connection with our proposed purchase of $____________ aggregate principal amount of:

     (a) a beneficial interest in a Global Security, or

     (b) a Definitive Security,

     we confirm that:

     1. We understand that any subsequent transfer of the 20[ ] Note[s] or any interest therein
is subject to certain restrictions and conditions set forth in the Indenture and the undersigned
agrees to be bound by, and not to resell, pledge or otherwise transfer the 20[ ] Note[s] or any
interest therein except in compliance with, such restrictions and conditions and the Securities Act
of 1933, as amended (the “Securities Act”).

     2. We understand that the offer and sale of the 20[ ] Note[s] have not been registered under
the Securities Act, and that the 20[ ] Note[s] and any interest therein may not be offered or sold
except as permitted in the following sentence. We agree, on our own behalf and on behalf of any
accounts for which we are acting as hereinafter stated, that if we should sell the 20[ ] Note[s]
or any interest therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in
accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined
therein), (C) to an institutional “accredited investor” (as defined below) that, prior to such
transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the
Company a signed letter substantially in the form of this letter and an Opinion of Counsel in form
reasonably acceptable to the Company to the effect that such transfer is in compliance with the
Securities Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the
Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant
to an effective registration statement under the Securities Act, and we further agree to provide to
any Person purchasing the Definitive Security or beneficial interest in a Global Security from us
in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice
advising such purchaser that resales thereof are restricted as stated herein.

D-1

 

     3. We understand that, on any proposed resale of the 20[ ] Note[s] or beneficial interest
therein, we will be required to furnish to you and the Company such certifications, legal opinions
and other information as you and the Company may reasonably require to confirm that the proposed
sale complies with the foregoing restrictions. We further understand that the 20[ ] Note[s]
purchased by us will bear a legend to the foregoing effect.

     4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
20[ ] Note[s], and we and any accounts for which we are acting are each able to bear the economic
risk of our or its investment.

     5. We are acquiring the 20[ ] Note[s] or beneficial interest therein purchased by us for our
own account or for one or more accounts (each of which is an institutional “accredited investor”)
as to each of which we exercise sole investment discretion.

     You and the Company are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 
	 	[Insert Name of Accredited Investor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: _______________________

D-2

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