Document:

EXHIBIT 4.1

                            SYSCO INTERNATIONAL, CO.,
                                    as Issuer

                               SYSCO CORPORATION,
                                  as Guarantor

                                       AND

                      WACHOVIA BANK, NATIONAL ASSOCIATION,

                                   as Trustee

                                    INDENTURE

                            DATED AS OF MAY 23, 2002

<PAGE>

                            SYSCO INTERNATIONAL, CO.
                                SYSCO CORPORATION

           RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939
                     AND INDENTURE, DATED AS OF MAY 23, 2002

                              --------------------
<TABLE>
<CAPTION>
<S>                                                                                          <C>
Section of
Trust Indenture                                                                              Section(s) of
Act of 1939                                                                                  Indenture

Sect. 310  (a)(1).......................................................................     6.9
           (a)(2).......................................................................     6.9
           (a)(3).......................................................................     Not Applicable
           (a)(4).......................................................................     Not Applicable
           (a)(5).......................................................................     6.9
           (b)..........................................................................     6.9, 6.10
Sect. 311  (a)..........................................................................     6.6
           (b)..........................................................................     6.6
           (c)..........................................................................     Not Applicable
Sect. 312  (a)..........................................................................     4.1
           (b)..........................................................................     4.1
           (c)..........................................................................     4.1
Sect. 313  (a)..........................................................................     4.3
           (b)..........................................................................     4.3
           (c)..........................................................................     4.3
           (d)..........................................................................     4.3
Sect. 314  (a)..........................................................................     3.5, 4.2
           (b)..........................................................................     Not Applicable
           (c)(1).......................................................................     11.5
           (c)(2).......................................................................     11.5
           (c)(3).......................................................................     Not Applicable
           (d)..........................................................................     Not Applicable
           (e)..........................................................................     1.1 ("Officer
                                                                                             Certificate"); 11.5
Sect. 315  (a)..........................................................................     6.1(b)
           (b)..........................................................................     5.11
           (c)..........................................................................     6.1
           (d)..........................................................................     6.1
           (d)(1).......................................................................     6.1
           (d)(2).......................................................................     6.1
           (d)(3).......................................................................     6.1
           (e)..........................................................................     6.10
Sect. 316  (a)(1)(A)....................................................................     5.9
           (a)(1)(B)....................................................................     5.10
           (a)(2).......................................................................     Not Applicable
           (a)(last sentence)...........................................................     7.4
           (b)..........................................................................     5.7
Sect. 317  (a)(1).......................................................................     5.4
           (a)(2).......................................................................     5.2
           (b)..........................................................................     3.4
Sect. 318  (a)..........................................................................     11.7
------------
</TABLE>

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

                                       i
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
<S>        <C>                                                                             <C>
                                                                                           PAGE
                                                                                           ----
ARTICLE I  DEFINITIONS........................................................................1

   1.1     Certain Terms Defined..............................................................1

ARTICLE II SECURITIES.........................................................................9

   2.1     Forms Generally....................................................................9
   2.2     Form of Trustee's Certificate of Authentication...................................11
   2.3     Amount Unlimited; Issuable in Series..............................................11
   2.4     Authentication and Delivery of Securities.........................................14
   2.5     Execution of Securities...........................................................16
   2.6     Certificate of Authentication.....................................................17
   2.7     Denomination and Date of Securities; Payments of Interest.........................17
   2.8     Registration, Transfer and Exchange...............................................18
   2.9     Mutilated, Defaced, Destroyed, Lost and Stolen Securities.........................21
   2.10    Cancellation of Securities; Destruction Thereof...................................22
   2.11    Temporary Securities..............................................................22
   2.12    CUSIP Numbers.....................................................................23
   2.13    Certain Restrictive Legends.......................................................23
   2.14    Transfer Restrictions and Other Transfer Provisions...............................25

ARTICLE III CERTAIN COVENANTS OF THE ISSUER AND THE GUARANTOR................................31

   3.1     Payment of Principal and Interest.................................................31
   3.2     Offices for Payments, etc.........................................................31
   3.3     Appointment to Fill a Vacancy in Office of Trustee................................32
   3.4     Paying Agents.....................................................................32
   3.5     Written Statement to Trustee......................................................33
   3.6     Luxembourg Publications...........................................................33
   3.7     Certain Covenants Applicable to the Securities; Limitations on Liens..............33
   3.8     Limitations on Sale and Lease-Back Transactions...................................35
   3.9     Corporate Existence...............................................................35
   3.10    Waiver of Stay, Extension or Usury Laws...........................................35

ARTICLE IV SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER, GUARANTOR AND
           THE TRUSTEE.......................................................................36

   4.1     Issuer to Furnish Trustee Information as to Names and Addresses of
           Securityholders...................................................................36
   4.2     Reports by the Issuer and the Guarantor...........................................36
   4.3     Reports by the Trustee............................................................36

ARTICLE V  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT...................37

   5.1     Event of Default Defined; Acceleration of Maturity; Waiver of Default.............37
   5.2     Collection of  Indebtedness by Trustee; Trustee May Prove Debt....................39

                                       ii
<PAGE>

   5.3     Application of Proceeds...........................................................41
   5.4     Suits for Enforcement.............................................................42
   5.5     Restoration of Rights on Abandonment of Proceedings...............................42
   5.6     Limitations on Suits by Securityholders...........................................42
   5.7     Unconditional Right of Securityholder to Institute Certain Suits..................43
   5.8     Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default...........43
   5.9     Control by Holders of Securities..................................................43
   5.10    Waiver of Past Defaults...........................................................44
   5.11    Trustee to Give Notice of Default, But May Withhold in Certain Circumstances......44
   5.12    Right of Court to Require Filing of  Undertaking to Pay Costs.....................45

ARTICLE VI CONCERNING THE TRUSTEE............................................................45

   6.1     Duties and Responsibilities of the Trustee; Prior to Default......................45
   6.2     Certain Rights of the Trustee.....................................................46
   6.3     Trustee Not Responsible for Recitals, Disposition of Securities or Application
           of Proceeds Thereof...............................................................48
   6.4     Trustee and Agents May Hold Securities or Coupons, Collections, etc...............48
   6.5     Moneys Held by Trustee............................................................48
   6.6     Compensation and Indemnification of Trustee and Its Prior Claim...................48
   6.7     Right of Trustee to Rely on Officers' Certificate, etc............................49
   6.8     Indentures Not Creating Potential Conflicting Interests for the Trustee...........49
   6.9     Persons Eligible for Appointment as Trustee.......................................49
   6.10    Resignation and Removal; Appointment of Successor Trustee.........................49
   6.11    Acceptance of Appointment by Successor Trustee....................................51
   6.12    Merger, Conversion, Consolidation or Succession to Business of Trustee............52
   6.13    Appointment of Authenticating Agent...............................................53

ARTICLE VII CONCERNING THE SECURITYHOLDERS...................................................54

   7.1     Evidence of Action Taken by Securityholders.......................................54
   7.2     Proof of Execution of Instruments and of Holding of Securities....................54
   7.3     Holders to be Treated as Owners...................................................55
   7.4     Securities Owned by Issuer Deemed Not Outstanding.................................56
   7.5     Right of Revocation of Action Taken...............................................56
   7.6     Record Date for Consents and Waivers..............................................56

ARTICLE VIII SUPPLEMENTAL INDENTURES.........................................................57

   8.1     Supplemental Indentures Without Consent of Securityholders........................57
   8.2     Supplemental Indentures With Consent of Securityholders...........................58
   8.3     Effect of Supplemental Indenture..................................................60
   8.4     Documents to Be Given to Trustee..................................................60
   8.5     Notation on Securities in Respect of Supplemental Indentures......................60

ARTICLE IX CONSOLIDATION, MERGER, SALE OR CONVEYANCE.........................................60

   9.1     Limitations on Mergers and Consolidations of the Guarantor........................60
   9.2     Successor Person Substituted......................................................61
   9.3     Assignment by and Substitution of the Issuer......................................61

                                       iii
<PAGE>

ARTICLE X  SATISFACTION AND DISCHARGE OF  INDENTURE; UNCLAIMED MONEYS........................61

   10.1    Satisfaction and Discharge of Indenture...........................................61
   10.2    Application by Trustee of Funds Deposited for Payment of Securities...............66
   10.3    Repayment of Moneys Held by Paying Agent..........................................66
   10.4    Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years.........66
   10.5    Indemnity for U.S. Government Obligations.........................................66

ARTICLE XI MISCELLANEOUS PROVISIONS..........................................................67

   11.1    Incorporators, Stockholders, Officers, Directors and Employees of Issuer and
           Guarantor Exempt from Individual Liability........................................67
   11.2    Provisions of Indenture for the Sole Benefit of Parties and Holders of
           Securities and Coupons............................................................67
   11.3    Successors and  Assigns of  Issuer and Guarantor Bound by Indenture...............67
   11.4    Notices and Demands on Issuer, Guarantor, Trustee and Holders of Securities
           and Coupons.......................................................................67
   11.5    Officers' Certificates and Opinions of Counsel; Statements to Be Contained
           Therein...........................................................................68
   11.6    Payments Due on Saturdays, Sundays and Holidays...................................69
   11.7    Conflict of Any Provision of Indenture with Trust Indenture Act...................69
   11.8    New York Law to Govern; Jurisdiction; Service of Process..........................69
   11.9    Counterparts......................................................................70
   11.10   Effect of Headings................................................................70
   11.11   Securities in a Foreign Currency or in ECU........................................70
   11.12   Judgment Currency.................................................................71

ARTICLE XII REDEMPTION OF SECURITIES AND SINKING FUNDS.......................................71

   12.1    Applicability of Article..........................................................71
   12.2    Notice of Redemption; Partial Redemptions.........................................71
   12.3    Payment of Securities Called for Redemption.......................................73
   12.4    Exclusion of Certain Securities from Eligibility for Selection for Redemption.....74
   12.5    Mandatory and Optional Sinking Funds..............................................74

ARTICLE XIII GUARANTEES......................................................................76

   13.1    Guarantees........................................................................76
   13.2    Proceedings Against the Guarantor.................................................78
   13.3    Guarantees for Benefit of Holders.................................................78
   13.4    Severability......................................................................79
</TABLE>

EXHIBITS

Exhibit  A - Form  of  Global  Security
Exhibit  B - Form  of  Certificate  of Beneficial  Ownership
Exhibit  C - Form of Regulation S Certificate
Exhibit  D - Form of Institutional Accredited Investor Certificate

                                       iv
<PAGE>

     THIS INDENTURE, dated as of May 23, 2002 between SYSCO INTERNATIONAL,  CO.,
an unlimited  liability company organized under the laws of the Province of Nova
Scotia,  Canada (the "Issuer"),  SYSCO CORPORATION,  a Delaware corporation (the
"Guarantor"),  and  WACHOVIA  BANK,  NATIONAL  ASSOCIATION,  a national  banking
association, as trustee (the "Trustee").

                              W I T N E S S E T H:

     WHEREAS,  the Issuer has duly authorized the issue from time to time of its
notes or other evidences of indebtedness to be issued in one or more series (the
"Securities") up to such principal amount or amounts as may from time to time be
authorized in accordance with the terms of this Indenture;

     WHEREAS,  the Issuer has duly authorized the execution and delivery of this
Indenture to provide,  among other things, for the authentication,  delivery and
administration of the Securities;

     WHEREAS,  the Guarantor has duly  authorized  the execution and delivery of
this Indenture to provide for the Guarantees; and

     WHEREAS,  all things necessary to make this Indenture a valid indenture and
agreement according to its terms have been done;

     NOW, THEREFORE:

     In consideration of the premises and the purchases of the Securities by the
holders thereof, the Issuer, the Guarantor and the Trustee mutually covenant and
agree for the equal and  proportionate  benefit of the  respective  holders from
time to time of the Securities and of the coupons, if any,  appertaining thereto
as follows:

                                   ARTICLE I

                                   DEFINITIONS

     1.1  Certain  Terms  Defined.  The  following  terms  (except as  otherwise
expressly  provided or unless the context  otherwise  clearly  requires) for all
purposes of this Indenture and of any indenture  supplemental  hereto shall have
the respective meanings specified in this Section.  All other terms used in this
Indenture that are defined in the Trust  Indenture Act or are defined therein by
reference to the Securities Act (except as herein otherwise  expressly  provided
or unless the context  otherwise  requires) shall have the meanings  assigned to
such terms in the Trust  Indenture Act and in the  Securities Act as in force at
the date of this Indenture.  For the purpose of any computation  hereunder,  all
accounting  terms used herein and not expressly  defined shall have the meanings
assigned  to  such  terms  in  accordance  with  generally  accepted  accounting
principles,  and the term "generally accepted accounting  principles" means such
accounting principles as are generally accepted in the United States at the time
of such  computation.  The words  "herein,"  "hereof" and  "hereunder" and other
words of  similar  import  refer  to this  Indenture  as a whole  and not to any

<PAGE>

particular  Article,  Section  or other  subdivision.  Whenever  the  context so
requires,  the  singular  number  includes  the  plural  and vice  versa,  and a
reference to one gender includes the other gender and the neuter.

     "Agent Members" has the meaning given such term in Section 2.8.

     "Attributable  Debt" with regard to a Sale and Lease-Back  Transaction with
respect to any property means, at the time of determination,  the lesser of: (a)
the fair market value of such property (as determined in good faith by the Board
of Directors of the Guarantor); or (b) the present value of the total net amount
of rent required to be paid under such lease during the  remaining  term thereof
(including any period for which such lease has been extended), discounted at the
rate of  interest  set forth or  implicit in the terms of such lease (or, if not
practicable   to  determine   such  rate,   the   Composite   Rate)   compounded
semi-annually.  In the case of any lease which is  terminable by the lessee upon
the payment of a penalty,  such net amount shall be the lesser of the net amount
determined assuming termination upon the first date such lease may be terminated
(in which case the net amount shall also include the amount of the penalty,  but
no rent shall be considered  as required to be paid under such lease  subsequent
to the  first  date  upon  which  it may be so  terminated)  or the  net  amount
determined assuming no such termination.

     "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 purposes of this definition,  "control"
(including,  with correlative meanings, the terms "controlling," "controlled by"
and "under common control with"), as used with respect to any Person, shall mean
the  possession,  directly  or  indirectly,  of the power to direct or cause the
direction  of the  management  or policies of such Person,  whether  through the
ownership of voting securities, by agreement or otherwise.

     "Authenticating Agent" shall have the meaning set forth in Section 6.13.

     "Authorized Newspaper" means a newspaper (which, in the case of The City of
New York, will, if practicable, be The Wall Street Journal (Eastern Edition), in
the case of the United  Kingdom,  will, if  practicable,  be The Financial Times
(London  Edition) and, in the case of Luxembourg,  will, if practicable,  be The
Luxemburger   Wort)  published  in  an  official  language  of  the  country  of
publication  customarily published at least once a day for at least five days in
each  calendar  week and of  general  circulation  in The City of New York,  the
United  Kingdom or in Luxembourg,  as applicable.  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,"  when  used  with  reference  to the  Issuer or the
Guarantor,  means the Board of Directors of the Issuer or the Guarantor,  as the
case may be, or any  committee  thereof  duly  authorized,  with  respect to any
particular  matter,  to act by or on  behalf of the  Board of  Directors  of the
Issuer or the Guarantor, as the case may be.

     "Board  Resolution,"  when  used  with  reference  to  the  Issuer  or  the
Guarantor,  means  a copy  of a  resolution  certified  by the  Secretary  or an
Assistant Secretary of the Issuer or the Guarantor,  as the case may be, to have

                                       2
<PAGE>

been duly adopted by the Board of Directors of the Issuer or the  Guarantor,  as
the  case  may be,  and to be in  full  force  and  effect  on the  date of such
certification, and delivered to the Trustee.

     "Business Day" means, with respect to any Security,  a day that in the city
of the  principal  Corporate  Trust Office of the Trustee and in the city (or in
any of the cities, if more than one) in which amounts are payable,  as specified
in the form of such Security,  is neither a Saturday,  Sunday or a legal holiday
nor a day on which  banking  institutions  are  authorized or required by law or
regulation to close.

     "Clearstream"  means  Clearstream   Banking,   societe  anonyme,   and  its
successors.

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

     "Composite  Rate"  means,  at any time,  the rate of  interest,  per annum,
compounded semiannually, equal to the sum of the rates of interest borne by each
of the Securities Outstanding hereunder (as specified on the face of each of the
Securities, provided, that, in the case of the Securities with variable rates of
interest,  the interest rate to be used in calculating  the Composite Rate shall
be the interest rate  applicable to such Securities at the beginning of the year
in which the Composite Rate is being determined and, provided, further, that, in
the case of Securities which do not bear interest,  the interest rate to be used
in calculating the Composite Rate shall be a rate equal to the yield to maturity
on such  Securities,  calculated  at the time of  issuance  of such  Securities)
multiplied,  in the case of each of the  Securities,  by the  percentage  of the
aggregate principal amount of all of the Securities then Outstanding represented
by such Security. For the purposes of this calculation,  the aggregate principal
amounts of Outstanding  Securities that are  denominated in a foreign  currency,
shall be calculated in the manner set forth in Section 11.11.

     "Consolidated  Net Tangible  Assets" means, as of any particular  time, the
aggregate  amount  of  assets  (less  applicable  reserves  and  other  properly
deductible items) after deducting therefrom: (a) all current liabilities, except
for current  maturities  of  long-term  debt and of  obligations  under  capital
leases; and (b) all goodwill, trade names, trademarks, patents, unamortized debt
discount and expense and other intangible assets, to the extent included in said
aggregate  amount of assets,  all as set forth on the most  recent  consolidated
balance sheet of the Guarantor and its consolidated subsidiaries and computed in
accordance with generally accepted accounting principles.

     "Corporate  Trust  Office"  means the  office of the  Trustee  at which the
corporate  trust  business of the Trustee  shall,  at any  particular  time,  be
principally administered which office is, at the date as of which this Indenture
is dated, located in Houston,  Texas. Where the terms of this Indenture refer to
performance in New York, New York, the address of such office are as follows:

                                       3
<PAGE>

                           Wachovia Bank
                           12 East 49th Street,
                           37th Floor
                           New York, New York  10017

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

     "Depositary"  means,  with respect to the Securities of any series issuable
or issued in the form of one or more Registered  Global  Securities,  the Person
designated as Depositary by the Issuer pursuant to Section 2.3 until a successor
Depositary shall have become such pursuant to the applicable  provisions of this
Indenture,  and thereafter "Depositary" shall mean or include each Person who is
then a  Depositary  hereunder,  and if at any time  there is more  than one such
Person,  "Depositary"  as used with respect to the Securities of any such series
shall mean the Depositary  with respect to the Registered  Global  Securities of
that series.

     "Dollar" or "$" means the coin or currency of the United  States of America
as at the time of payment is legal  tender for the payment of public and private
debts.

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

     "Euroclear" means Euroclear Bank S.A./N.V.,  and its successors or assigns,
as operator of the Euroclear System.

     "Event  of  Default"  means  any event or  condition  specified  as such in
Section 5.1.

     "Exchange Act" means the U.S. Securities Exchange Act of 1934, as amended.

     "Exchange Note" shall have the meaning set forth in Section 2.1.

     "Foreign  Currency"  means a currency issued by the government of a country
other than the United States of America.

     "Guarantees"  shall mean the guarantees of the Issuer's  obligations  under
the Securities by the Guarantor as provided in Article XIII.

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

     "Holder," "Holder of Securities,"  "Securityholder"  or other similar terms
mean (a) in the case of any Registered  Security,  the person in whose name such
Security is  registered  in the  security  register  kept by the Issuer for that
purpose  in  accordance  with  the  terms  hereof,  and  (b) in the  case of any
Unregistered  Security,  the bearer of such Security, or any Coupon appertaining
thereto, as the case may be.

     "Indebtedness" shall have the meaning set forth in Section 5.1.

                                       4
<PAGE>

     "Indenture" means this instrument as originally  executed and delivered or,
if amended or supplemented as herein provided,  as so amended or supplemented or
both,  and shall include the forms and terms of particular  series of Securities
established as contemplated hereunder.

     "Initial Notes" means the first series of Securities  issued as of the date
of this Indenture.

     "Initial  Purchasers"  means the initial  purchasers  named in the Purchase
Agreement dated May 20, 2002 relating to the sale of the Initial Notes.

     "Institutional  Accredited  Investor"  means  an  institution  that  is  an
"accredited investor" as that term is defined in Rule 501(a)(1), (2), (3) or (7)
of Regulation D under the Securities Act.

     "interest,"  whenever used with reference to the Securities or any Security
or portion  thereof,  shall be deemed to include interest payable after maturity
and any additional  amount payable in connection  with those  Securities or that
Security or portion thereof,  as the case may be, as established with respect to
those Securities pursuant to the provisions of Section 2.3.

     "Issuer" means Sysco  International,  Co., an unlimited  liability  company
organized under the laws of the Province of Nova Scotia,  Canada and, subject to
Article IX, its successors and assigns.

     "Issuer  Order" means a written  statement,  request or order of the Issuer
signed in its name by two officers of the Issuer,  and, in the case of an Issuer
Order  pursuant to Section 2.4, 8.1 or 8.2,  signed in the name of the Guarantor
by one officer of the Guarantor, and delivered to the Trustee.

     "Judgment Currency" shall have the meaning set forth in Section 11.12.

     "Non-U.S.  Person" means a Person who is not a U.S.  person,  as defined in
Regulation S.

     "Officer" means, with respect to any Person,  the Chairman or Vice Chairman
of the Board of Directors, the President, any Vice President or the Treasurer of
such Person.

     "Officers'  Certificate"  means a certificate signed by two officers of the
Issuer, and, in the case of an Officers' Certificate referred to in Section 2.1,
2.3, 2.4 or 8.4,  signed by one Officer of the  Guarantor,  and delivered to the
Trustee.  Each such  certificate  shall  comply  with  Section  314 of the Trust
Indenture Act and include the statements provided for in Section 11.5.

     "Offshore Global Security" means a Temporary  Offshore Global Security or a
Permanent Offshore Global Security.

                                       5
<PAGE>

     "Opinion  of  Counsel"  means an opinion in writing  signed by the  General
Counsel of the Issuer or the Guarantor or by such other legal counsel who may be
an  employee  of or counsel to the Issuer and who shall be  satisfactory  to the
Trustee.  Each such opinion shall comply with section 314 of the Trust Indenture
Act and include the statements provided for in Section 11.5.

     "Original  Issue  Date" of any  Security  (or  portion  thereof)  means the
earlier of (a) the date of such  Security  or (b) the date of any  Security  (or
portion  thereof) for which such Security was issued (directly or indirectly) on
registration of transfer, exchange or substitution.

     "Original Issue Discount  Security" means any Security that provides for an
amount  less than the  principal  amount  thereof to be due and  payable  upon a
declaration of acceleration of the maturity thereat pursuant to Section 5.1.

     "Outstanding" when used with reference to Securities, shall, subject to the
provisions  of Section 7.4,  mean, as of any  particular  time,  all  Securities
authenticated and delivered by the Trustee under this Indenture, except

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

          (b) Securities,  or portions thereof, for the payment or redemption of
     which moneys or U.S.  Government  Obligations  in the necessary  amount (as
     provided for in Section  10.1) shall have been  deposited in trust with the
     Trustee or with any paying agent (other than the Issuer) or shall have been
     set aside,  segregated  and held in trust by the Issuer for the  Holders of
     such Securities (if the Issuer shall act as its own paying agent), provided
     that if such Securities,  or portions thereof,  are to be redeemed prior to
     the maturity  thereof,  notice of such redemption  shall have been given as
     herein provided,  or provision  satisfactory to the Trustee shall have been
     made for giving such notice; and

          (c) Securities which shall have been paid or in substitution for which
     other Securities shall have been  authenticated  and delivered  pursuant to
     the terms of Section 2.9 (except  with  respect to any such  Security as to
     which proof  satisfactory to the Trustee is presented that such Security is
     held by a person in whose hands such Security is a legal, valid and binding
     obligation of the Issuer).

     In  determining  whether the Holders of the requisite  principal  amount of
Outstanding  Securities  of any or all series  have given any  request,  demand,
authorization,  direction,  notice,  consent or waiver hereunder,  the principal
amount  of an  Original  Issue  Discount  Security  that  shall be  deemed to be
Outstanding for such purposes shall be the amount of the principal  thereof that
would be due and payable as of the date of such determination upon a declaration
of acceleration of the maturity thereof pursuant to Section 5.1.

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

                                       6
<PAGE>

     "Permanent  Offshore  Global  Security" shall have the meaning set forth in
Section 2.1.

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

     "principal"  whenever used with reference to the Securities or any Security
or any portion thereof, shall be deemed to include "and premium, if any," unless
otherwise indicated by the context.

     "Principal Property" means the land,  improvements,  buildings and fixtures
(including any leasehold interest therein)  constituting the principal corporate
office,  any manufacturing  plant, any  manufacturing,  distribution or research
facility or  self-serve  center (in each case,  whether  now owned or  hereafter
acquired)  which is owned or leased by the  Guarantor or any  Subsidiary  and is
located  within  the  United  States of  America  or Canada  unless the Board of
Directors of the Guarantor has determined in good faith that such office, plant,
facility or center is not of material importance to the total business conducted
by the Guarantor and its Subsidiaries taken as a whole. With respect to any Sale
and   Lease-Back   Transaction   or  series  of  related  Sale  and   Lease-Back
Transactions,  the determination of whether any property is a Principal Property
shall be determined by reference to all properties  affected by such transaction
or series of transactions.

     "Private  Placement  Legend"  shall have the  meaning  set forth in Section
2.13.

     "QIB" or "Qualified  Institutional Buyer" means a "qualified  institutional
buyer," as that term is defined in Rule 144A under the Securities Act.

     "record date" shall have the meaning set forth in Section 2.7.

     "Registered  Global  Security"  means a Security,  including  any  Offshore
Global Security,  evidencing all or a part of a series of Registered Securities,
issued to the  Depositary  for such series in  accordance  with Section 2.4, and
bearing the legend prescribed in Section 2.4.

     "Registered  Security"  means  any  Security  registered  on  the  Security
register of the Issuer.

     "Registration  Rights  Agreement" means the  Registration  Rights Agreement
dated as of May 23,  2002  among  the  Issuer,  the  Guarantor  and the  Initial
Purchasers party thereto, as such agreement may be amended from time to time.

     "Regulation S" means Regulation S under the Securities Act.

     "Resale Restriction  Termination Date" means, with respect to any Security,
the date that is two years (or such other  period as may  hereafter  be provided
under Rule 144(k) under the Securities Act or any successor provision thereto as
permitting  the  resale  by  non-affiliates  of  Restricted  Securities  without
restriction)  after the later of the  original  issue  date in  respect  of such

                                       7
<PAGE>

Security or the last date on which the Issuer or any Affiliate of the Issuer was
the owner of such Security.

     "Required Currency" shall have the meaning set forth in Section 11.12.

     "Responsible  Officer"  when used with  respect  to the  Trustee  means the
chairman of the board of directors, any vice chairman of the board of directors,
the chairman of the trust  committee,  the chairman of the executive  committee,
any vice chairman of the executive committee, the president, any vice president,
(whether or not  designated  by numbers or words added before or after the title
"vice president"), the cashier, the secretary, the treasurer, any trust officer,
any  assistant  trust  officer,  any  assistant  vice  president,  any assistant
cashier, any assistant secretary,  any assistant treasurer, or any other officer
or assistant officer of the Trustee customarily  performing functions similar to
those  performed  by the  persons  who at  the  time  shall  be  such  officers,
respectively,  or to whom any corporate trust matter is referred  because of his
knowledge of and familiarity with the particular subject.

     "Restricted  Period"  means the 40-day  distribution  compliance  period as
defined in Regulation S which,  in the case of the Initial  Notes,  ends July 2,
2002.

     "Restricted  Security"  has  the  meaning  assigned  to  such  term in Rule
144(a)(3) under the Securities Act; provided, however, that the Trustee shall be
entitled to receive,  at its  request,  and  conclusively  rely on an Opinion of
Counsel with respect to whether any Security constitutes a Restricted Security.

     "Rule 144A Security" means Securities purchased from the Issuer by a dealer
for resale to investors pursuant to Rule 144A of the Securities Act.

     "Sale and Lease-Back  Transaction"  means any  arrangement  with any Person
providing  for the leasing by the  Guarantor or any  Subsidiary of any Principal
Property  which  property  has  been  or is to be  sold  or  transferred  by the
Guarantor or such Subsidiary to such Person.

     "Securities Act" means the U.S. Securities Act of 1933, as amended.

     "Security" or  "Securities"  has the meaning stated in the first recital of
this Indenture,  or, as the case may be, Securities that have been authenticated
and delivered under this Indenture.

     "Subsidiary" means any corporation of which outstanding voting stock having
the power to elect a majority of the board of directors of such  corporation  is
at the time owned, directly or indirectly,  by the Guarantor,  or by one or more
other Subsidiaries, or by the Guarantor and one or more other Subsidiaries.  For
the purposes of this definition, "voting stock" means stock which ordinarily has
voting power for the election of directors, whether at all times or only so long
as no senior class of stock has such voting power by reason of any contingency.

     "Temporary  Offshore  Global  Security" shall have the meaning set forth in
Section 2.1.

                                       8
<PAGE>

     "Trust  Indenture  Act" (except as  otherwise  provided in Sections 8.1 and
8.2) means the U.S. Trust Indenture Act of 1939, as amended.

     "Trustee"  means the Person  identified as "Trustee" in the first paragraph
hereof and,  subject to the  provisions  of Article VI,  shall also  include any
agent of such trustee and any successor  trustee.  "Trustee"  shall also mean or
include each Person who is then a trustee  hereunder and if at any time there is
more than one such Person,  "Trustee" as used with respect to the  Securities of
any series shall mean the trustee with respect to the Securities of such series.

     "Unregistered   Security"  means  any  Security  other  than  a  Registered
Security.

     "U.S.  Government  Obligations" shall have the meaning set forth in Section
10.1(a).

     "Yield  to  Maturity"  means  the  yield to  maturity  (i) on a  series  of
Securities or (ii) if the Securities of a series are issuable from time to time,
on a Security of such series,  calculated at the time of issuance of such series
in the case of clause (i) or at the time of  issuance  of such  Security of such
series  in the case of  clause  (ii),  or,  if  applicable,  at the most  recent
redetermination  of interest on such series or on such Security,  and calculated
in accordance with the constant interest method or such other accepted financial
practice as is specified in the terms of such Security.

                                   ARTICLE II

                                   SECURITIES

     2.1 Forms Generally. The Securities of each series and the Coupons, if any,
to be attached  thereto shall be  substantially  in such form (not  inconsistent
with this Indenture) as shall be established by or pursuant to one or more Board
Resolutions of the Issuer (and to the extent established pursuant to rather than
set forth in a Board  Resolution  of the  Issuer,  in an  Officers'  Certificate
detailing such establishment) or in one or more indentures  supplemental hereto,
in each case with such  appropriate  insertions,  omissions,  substitutions  and
other  variations  as are required or permitted by this  Indenture  and may have
imprinted   or   otherwise   reproduced   thereon  such  legend  or  legends  or
endorsements,  not inconsistent with the provisions of this Indenture, as may be
required  to  comply  with any law or with any  rules  or  regulations  pursuant
thereto,  or with any rules of any securities  exchange or to conform to general
usage,  all as may be determined by the officers  executing such  Securities and
Coupons, if any, as evidenced by their execution of such Securities and Coupons.

     The  definitive   Securities  and  Coupons,   if  any,  shall  be  printed,
lithographed  or  engraved on steel  engraved  borders or may be produced in any
other manner,  all as determined by the officers  executing such  Securities and
Coupons, if any, as evidenced by their execution of such Securities and Coupons,
if any.

     Rule 144A  Securities  shall (i) be issued  initially in the form of one or
more Registered Global Securities in substantially the form set forth in Exhibit
A, (ii) contain the legends set forth in Section 2.13 and (iii) be registered in
the name of the  nominee  of the  Depositary,  deposited  with the  Trustee,  as
custodian for the Depositary or its nominee, duly executed by the Issuer and the
Guarantor and authenticated by the Trustee as provided in this Article.

                                       9
<PAGE>

     Securities  offered  and  sold in  offshore  transactions  in  reliance  on
Regulation S under the Securities Act shall (i) be issued  initially in the form
of one or more temporary  Registered Global Securities in substantially the form
set forth in Exhibit A, (ii)  contain  each of the  legends set forth in Section
2.13 and  (iii) be  registered  in the name of the  nominee  of the  Depositary,
deposited with the Trustee, as custodian for the Depositary or its nominee, duly
executed by the Issuer and the  Guarantor  and  authenticated  by the Trustee as
hereinafter  provided (a  "Temporary  Offshore  Global  Security").  At any time
following  termination of the Restricted Period, upon receipt by the Trustee and
the  Issuer of a  certificate  substantially  in the form set forth in Exhibit B
hereto, one or more permanent Registered Global Securities  substantially in the
form of Exhibit A hereto and containing the legend set forth in Section  2.13(c)
(a "Permanent  Offshore Global  Security"),  duly executed by the Issuer and the
Guarantor and  authenticated  by the Trustee as  hereinafter  provided  shall be
deposited with the Trustee,  as custodian for the Depositary,  and the registrar
shall  reflect on its books and records the date and a decrease in the principal
amount of the  Temporary  Offshore  Global  Security  in an amount  equal to the
principal  amount of the beneficial  interest in the Temporary  Offshore  Global
Security  transferred.  Prior to the  termination of the  Restricted  Period and
receipt  of  the  certificate  referred  to  above,  beneficial  interests  in a
Temporary  Offshore  Global  Security  may be held  only  through  Euroclear  or
Clearstream.  The aggregate principal amount of any Offshore Global Security may
from time to time be increased or decreased by  adjustments  made on the records
of the Trustee,  as custodian for the nominee of the Depositary for the Offshore
Global Security.

     No Permanent  Offshore Global  Securities may be issued until expiration of
the applicable  Restricted Period and receipt by the Issuer and the Trustee from
the (x) proposed transferor of a certificate substantially in the form set forth
in  Exhibit  C or (y)  holder  of a  beneficial  interest  being  exchanged,  of
certification  that such  holder is a non-U.S.  person  (within  the  meaning of
Regulation  S under the  Securities  Act) or a U.S.  person  who  acquired  such
interest in a  transaction  exempt  from the  registration  requirements  of the
Securities Act.

     Securities  offered  and  sold  in  reliance  on any  exemption  under  the
Securities Act other than Regulation S and Rule 144A thereunder  shall be issued
in the form of permanent certificated  Securities  substantially in the form set
forth in Exhibit A and shall contain the private  placement  legend as set forth
in Section 2.13.

     Any debt  securities  of the Issuer  issued  pursuant to this  Indenture in
exchange for, and in an aggregate  principal amount at stated maturity equal to,
the Initial  Notes,  in  compliance  with the terms of the  Registration  Rights
Agreement  and  containing  terms  substantially  identical to the Initial Notes
(except  that (i) such  Securities  shall not  contain  terms  with  respect  to
transfer  restrictions and shall be registered under the Securities Act and (ii)
certain  provisions  relating to liquidated damages thereon shall be eliminated)
(each, an "Exchange  Note") shall be issued  substantially in the form set forth
in Exhibit A and in the form of one or more Registered Global Securities.

                                       10
<PAGE>

     2.2  Form  of  Trustee's  Certificate  of  Authentication.   The  Trustee's
certificate of  authentication  on all Securities shall be in substantially  the
following form:

     "This  is  one  of  the  Securities  referred  to in  the  within-mentioned
Indenture.

                               WACHOVIA BANK, NATIONAL ASSOCIATION, as Trustee

Dated:                         By:
      ---------------------        ---------------------------------------------
                                        Authorized Signatory"

     If at any  time  there  shall be an  Authenticating  Agent  appointed  with
respect to any series of Securities, then the Authenticating Agent's certificate
of  authentication  to be borne by the  Securities  of each such series shall be
substantially as follows:

     "This  is  one  of  the  Securities  referred  to in  the  within-mentioned
Indenture.

                               WACHOVIA BANK, NATIONAL ASSOCIATION, as Trustee

                               By:
                                  ----------------------------------------------
                                        Authorized Officer"

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

     The  Securities  may be issued in one or more  series and each such  series
shall rank equally and pari passu with all other  unsecured  and  unsubordinated
debt of the  Issuer.  There shall be  established  by or pursuant to one or more
Board  Resolutions  of the Issuer  (and to the extent  established  pursuant  to
rather  than set forth in a Board  Resolution  of the  Issuer,  in an  Officers'
Certificate   detailing  such  establishment)  or  in  one  or  more  indentures
supplemental hereto, prior to the initial issuance of Securities of any series,

          (1) the  designation  of the  Securities  of the  series,  which shall
     distinguish  the  Securities of the series from the Securities of all other
     series;

          (2) any limit upon the aggregate principal amount of the Securities of
     the series that may be  authenticated  and delivered  under this  Indenture
     (except for Securities  authenticated  and delivered upon  registration  of
     transfer  of, or in exchange  for, or in lieu of, other  Securities  of the
     series pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3);

                                       11
<PAGE>

          (3) if other than  Dollars,  the coin or currency or units  thereof in
     which the  Securities of that series are  denominated  (including,  but not
     limited to, any Foreign Currency or ECU);

          (4) the date or dates on which the principal of the  Securities of the
     series is payable;

          (5) the rate or rates at which the Securities of the series shall bear
     interest,  if any, the date or dates from which such interest shall accrue,
     on which  such  interest  shall be payable  and (in the case of  Registered
     Securities)  on which a record  shall be  taken  for the  determination  of
     Holders to whom interest is payable and/or the method by which such rate or
     rates or date or dates shall be determined;

          (6) the method by which  amounts  payable  in  respect  of  principal,
     premium, if any, or interest, if any, on such Securities may be calculated,
     and any  currencies,  commodities  or  indices,  or  value,  rate or price,
     relevant to such calculation;

          (7) the place or places  where the  principal  of and any  interest on
     Securities  of the series  shall be payable  (if other than as  provided in
     Section 3.2);

          (8) the right, if any, of the Issuer to redeem or cause to be redeemed
     Securities of the series, in whole or in part, at its option and the period
     or periods  within which,  the price or prices (and/or method by which such
     price or prices shall be determined) at which, and any terms and conditions
     upon which,  and the manner in which (if  different  from the  provision of
     Article XII hereof)  Securities of the series may be so redeemed,  pursuant
     to any sinking fund or otherwise;

          (9) the obligation, if any, of the Issuer to redeem, purchase or repay
     Securities  of the series,  in whole or in part,  pursuant to any mandatory
     redemption,  sinking  fund or  analogous  provisions  or at the option of a
     Holder  thereof  and the price or prices  (and/or  the method by which such
     price or prices shall be determined) at which, the period or periods within
     which, and any terms and conditions upon which, and the manner in which (if
     different  from the  provisions  of Article XII hereof)  Securities  of the
     series shall be redeemed, purchased or repaid pursuant to such obligation;

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

          (11) if other than the principal  amount  thereof,  the portion of the
     principal  amount of  Securities  of the series which shall be payable upon
     declaration of acceleration of the maturity thereof;

          (12) if other than the coin or currency or units  thereof in which the
     Securities  of that series are  denominated,  the coin or currency or units
     thereof in which payment of the principal of or interest on the  Securities
     of such series shall be payable;

                                       12
<PAGE>

          (13) if the principal of or interest on the  Securities of such series
     are to be payable,  at the election of the Issuer or a Holder thereof, in a
     coin or currency or units thereof  other than that in which the  Securities
     are  denominated,  the period or periods  within  which,  and the terms and
     conditions upon which, such election may be made;

          (14) if the amount of payments of principal of and/or  interest on the
     Securities of the series may be determined  with  reference to the value or
     price of any one or more commodities,  currencies or indices, the manner in
     which such amounts will be determined;

          (15)  whether  the  Securities  of the  series  will  be  issuable  as
     Registered  Securities (and if so, whether such Securities will be issuable
     as  Registered  Global  Securities)  or  Unregistered  Securities  (with or
     without  Coupons),  or any combination of the foregoing,  any  restrictions
     applicable to the offer, sale or delivery of Unregistered Securities or the
     payment of interest  thereon and, if other than as provided in Section 2.8,
     the terms upon which Unregistered Securities of any series may be exchanged
     for Registered Securities of such series and vice versa;

          (16)  whether  and  under  what  circumstances  the  Issuer  will  pay
     additional  amounts on the  Securities of the series in respect of any tax,
     assessment or governmental  charge withheld or deducted and, if so, whether
     the Issuer will have the option to redeem such  Securities  rather than pay
     such additional amounts;

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

          (18) any  trustees,  depositaries,  authenticating  or paying  agents,
     transfer  agents or  registrars  or any other  agents  with  respect to the
     Securities of such series;

          (19) any other  events of default or  covenants  not set forth  herein
     with respect to the Securities of such series;

          (20) the  terms and  conditions  upon  which  and the  manner in which
     Securities of the series may be defeased or  discharged  if different  from
     the provisions set forth under the defeasance provision herein;

          (21)  offices  at  which  presentations  and  demands  may be made and
     notices  may be served,  if other than the  Corporate  Trust  Office of the
     Trustee;

                                       13
<PAGE>

          (22) if the  Securities  of the series  are to be offered  and sold in
     reliance on Rule 144A under the  Securities Act and entitled to the benefit
     of Section 4.2(b); and

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

     All Securities of any one series and Coupons, if any, appertaining thereto,
shall be substantially identical, except in the case of Registered Securities as
to  denomination  and except as may  otherwise be provided by or pursuant to the
Board Resolution or Officers'  Certificate  referred to above or as set forth in
any such indenture  supplemental  hereto.  All Securities of any one series need
not be issued at the same time and may be issued  from time to time,  consistent
with the terms of this  Indenture,  if so  provided by or pursuant to such Board
Resolution,  such Officers'  Certificate  or in any such indenture  supplemental
hereto.

     2.4  Authentication  and  Delivery  of  Securities.  The Issuer may deliver
Securities of any series having attached thereto  appropriate  Coupons,  if any,
executed by the Issuer and the  Guarantor,  to the  Trustee  for  authentication
together with the applicable  documents  referred to below in this Section,  and
the Trustee shall thereupon  authenticate and deliver such Securities to or upon
the order of the Issuer (contained in the Issuer Order referred to below in this
Section)  or  pursuant to such  procedures  acceptable  to the Trustee as may be
specified  from time to time by an Issuer  Order.  The maturity  date,  original
issue date,  interest rate and any other terms of the  Securities of such series
and Coupons, if any,  appertaining thereto shall be determined by or pursuant to
such Issuer  Order and  procedures.  If provided  for in such  procedures,  such
Issuer  Order may  authorize  authentication  and  delivery  pursuant to oral or
electronic  instructions  from the Issuer or its duly  authorized  agent,  which
instructions  shall be promptly  confirmed in writing.  In  authenticating  such
Securities and accepting the additional responsibilities under this Indenture in
relation to such  Securities,  the Trustee  shall be entitled to receive (in the
case of  subparagraphs  (b), (c) and (d) below only at or before the time of the
first  request of the Issuer to the Trustee to  authenticate  Securities of such
series) and (subject to Section 6.1) shall be fully  protected in relying  upon,
unless and until such documents have been superseded or revoked:

          (a) an Issuer Order requesting such  authentication  and setting forth
     delivery  instructions if the Securities and Coupons, if any, are not to be
     delivered to the Issuer,  provided  that,  with respect to  Securities of a
     series  subject  to a  Periodic  Offering,  (i) such  Issuer  Order  may be
     delivered by the Issuer to the Trustee prior to the delivery to the Trustee
     of such Securities for authentication and delivery,  (ii) the Trustee shall
     authenticate and deliver  Securities of such series for original issue from
     time to time, in an aggregate  principal amount not exceeding the aggregate
     principal amount  established for such series,  pursuant to an Issuer Order
     or pursuant to  procedures  acceptable  to the Trustee as may be  specified
     from time to time by an Issuer  Order,  (iii) the  maturity  date or dates,
     original issue date or dates, interest rate or rates and any other terms of
     Securities  of such  series  shall  be  determined  by an  Issuer  Order or
     pursuant to such  procedures  and (iv) if provided for in such  procedures,
     such Issuer Order may  authorize  authentication  and delivery  pursuant to
     oral or  electronic  instructions  from the  Issuer or its duly  authorized
     agent or agents,  which oral  instructions  shall be promptly  confirmed in
     writing;

                                       14
<PAGE>

          (b)  any  Board  Resolution,  Officers'  Certificate  and/or  executed
     supplemental  indenture  referred to in Sections 2.1 and 2.3 by or pursuant
     to which the forms and terms of the  Securities  and Coupons,  if any, were
     established;

          (c) an Officers' Certificate setting forth the form or forms and terms
     of the Securities and Coupons,  if any,  stating that the form or forms and
     terms of the Securities and Coupons, if any, have been established pursuant
     to Sections 2.1 and 2.3 and comply with this  Indenture,  and covering such
     other matters as the Trustee may reasonably request; and

          (d) at the option of the Issuer,  either an Opinion of  Counsel,  or a
     letter  addressed  to the  Trustee  permitting  it to rely on an Opinion of
     Counsel, substantially to the effect that:

               (1) the forms and terms of the  Securities  and Coupons,  if any,
          have been duly  authorized  and  established  in  conformity  with the
          provisions of this Indenture;

               (2) when the Securities  and Coupons,  if any, have been executed
          by the Issuer and the  Guarantor and  authenticated  by the Trustee in
          accordance  with the provisions of this Indenture and delivered to and
          paid for by the  purchasers  thereof,  they  will be  entitled  to the
          benefits  of this  Indenture,  will have been duly  issued  under this
          Indenture and will be valid and binding obligations of the Issuer, and
          the related  Guarantees  will be valid and binding  obligations of the
          Guarantor,   enforceable   against  the  Issuer  and  the   Guarantor,
          respectively, in accordance with their respective terms; and

               (3)  the  execution  and  delivery  by the  Issuer  of,  and  the
          performance by the Issuer of its obligations under, the Securities and
          Coupons,  if any, will not contravene any provision of the certificate
          of  incorporation  or bylaws of the Issuer or any  agreement  or other
          instrument  binding upon the Issuer or, to the best of such  counsel's
          knowledge,  but without any independent  investigation,  any judgment,
          order or  decree of any  governmental  body,  agency  or court  having
          jurisdiction   over  the   Issuer,   and  no   consent,   approval  or
          authorization of any  governmental  body or agency is required for the
          performance by the Issuer of its obligations  under the Securities and
          Coupons,  if any,  except such as are specified and have been obtained
          and such as may be required by the  securities or blue sky laws of the
          various states in connection with the offer and sale of the Securities
          and Coupons, if any.

     In  rendering  such  opinions,  such counsel may qualify any opinions as to
enforceability by stating that such enforceability may be limited by bankruptcy,
insolvency,  reorganization,  liquidation,  moratorium  and other  similar  laws
affecting  the  rights  and  remedies  of  creditors  and is  subject to general
principles of equity (regardless of whether such enforceability is considered in
a  proceeding  in equity or at law).  Such  counsel may rely,  as to all matters
except those governed by the Federal law of the United States,  upon opinions of

                                       15
<PAGE>

other counsel (copies of which shall be delivered to the Trustee),  who shall be
counsel reasonably  satisfactory to the Trustee, in which case the opinion shall
state that such  counsel  believes he and the  Trustee are  entitled so to rely.
Such  counsel  may also state that,  insofar as such  opinion  involves  factual
matters,  he has relied,  to the extent he deems proper,  upon  certificates  of
officers  of  the  Issuer  and  its  subsidiaries  and  certificates  of  public
officials.

     The Trustee shall have the right to decline to authenticate and deliver any
Securities  under  this  Section  if the  Trustee,  being  advised  by  counsel,
determines  that such  action may not  lawfully be taken by the Issuer or if the
Trustee in good faith by its board of directors or board of trustees,  executive
committee, or a trust committee of directors or trustees or Responsible Officers
shall determine that such action would expose the Trustee to personal  liability
to  existing  Holders  or would  affect  the  Trustee's  own  rights,  duties or
immunities under the Securities, this Indenture or otherwise.

     If the Issuer shall  establish  pursuant to Section 2.3 that the Securities
of a  series  are to be  issued  in the  form of one or more  Registered  Global
Securities,  then the Issuer and the  Guarantor  shall  execute  and the Trustee
shall, in accordance with this Section and the Issuer Order with respect to such
series,  authenticate and deliver one or more Registered  Global Securities that
(i) shall represent and shall be denominated in an amount equal to the aggregate
principal amount of all or a portion of the Securities of such series issued and
not yet  canceled  or  exchanged,  (ii) shall be  registered  in the name of the
Depositary for such  Registered  Global Security or Securities or the nominee of
such  Depositary,  (iii) shall be delivered by the Trustee to such Depositary or
pursuant  to  such  Depositary's  instructions  and  (iv)  shall  bear a  legend
substantially to the following effect:

     THIS 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 SECURITY MAY
     NOT  BE   EXCHANGED  IN  WHOLE  OR  IN  PART  FOR  A  SECURITY
     REGISTERED,  AND NO TRANSFER  OF THIS  SECURITY IN WHOLE OR IN
     PART MAY BE  REGISTERED,  IN THE NAME OF ANY PERSON OTHER THAN
     SUCH  DEPOSITARY OR A NOMINEE  THEREOF,  EXCEPT IN THE LIMITED
     CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

     Each Depositary designated pursuant to Section 2.3 must, at the time of its
designation and at all times while it serves as Depositary, be a clearing agency
registered under the Exchange Act and any other applicable law or regulation.

     2.5 Execution of Securities. The Securities and, if applicable, each Coupon
appertaining  thereto  shall be signed on behalf of the  Issuer by an officer of
the Issuer and on behalf of the Guarantor, by an officer of the Guarantor, under
their respective  corporate seals (except in the case of Coupons) which may, but
need not, be attested. Such signatures may be the manual or facsimile signatures
of the  present or any future  such  officers.  The seal may be in the form of a
facsimile  thereof  and  may  be  impressed,  affixed,  imprinted  or  otherwise
reproduced on the Securities. Typographical and other minor errors or defects in

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<PAGE>

any such  reproduction  of the seal or any such  signature  shall not affect the
validity or enforceability of any Security that has been duly  authenticated and
delivered by the Trustee.

     In case any officer of the Issuer or of the Guarantor,  as the case may be,
who shall have signed any of the  Securities or Coupons,  if any, shall cease to
be such  officer  before the  Security  or Coupon so signed (or the  Security to
which the Coupon so signed  appertains)  shall be authenticated and delivered by
the Trustee or disposed of by the Issuer,  such Security or Coupon  nevertheless
may be  authenticated  and  delivered  or  disposed  of as though the person who
signed such  Security or Coupon had not ceased to be such  officer of the Issuer
or of the  Guarantor,  as the case may be;  and any  Security  or Coupon  may be
signed on behalf of the Issuer or of the Guarantor,  as the case may be, by such
persons  as, at the actual  date of the  execution  of such  Security or Coupon,
shall be the proper officers of the Issuer or of the Guarantor,  as the case may
be,  although at the date of the  execution  and delivery of this  Indenture any
such person was not such an officer.

     2.6  Certificate  of  Authentication.  Except as provided  in Section  6.13
hereof,   only  such   Securities  as  shall  bear  thereon  a  certificate   of
authentication  substantially in the form hereinbefore recited,  executed by the
Trustee by the manual  signature  of one of its  authorized  officers,  shall be
entitled to the  benefits of this  Indenture  and the related  Guarantees  or be
valid or obligatory for any purpose. No Coupon shall be entitled to the benefits
of this  Indenture and the related  Guarantees or shall be valid and  obligatory
for any purpose until the certificate of authentication on the Security to which
such  Coupon  appertains  shall  have been duly  executed  by the  Trustee.  The
execution of such  certificate by the Trustee upon any Security  executed by the
Issuer and by the Guarantor  shall be  conclusive  evidence that the Security so
authenticated has been duly  authenticated and delivered  hereunder and that the
Holder is entitled to the benefits of this Indenture and the related Guarantees.

     2.7  Denomination  and  Date  of  Securities;  Payments  of  Interest.  The
Securities  of each  series  shall  be  issuable  as  Registered  Securities  or
Unregistered  Securities  in  denominations  as shall be  specified  pursuant to
Section  2.3 or, if not so  established,  in  denominations  of  $1,000  and any
integral  multiple  thereof.  The  Securities  of each series shall be numbered,
lettered or otherwise  distinguished  in such manner or in accordance  with such
plan as the officers of the Issuer  executing  the same may  determine  with the
approval of the  Trustee,  as  evidenced  by the  execution  and  authentication
thereof.

     Each  Registered  Security  shall be dated the date of its  authentication.
Each Unregistered  Security shall be dated as specified pursuant to Section 2.3.
The  Securities of each series shall bear  interest,  if any, from the date, and
such interest  shall be payable on the dates,  established  as  contemplated  by
Section 2.3.

     The  Person  in  whose  name  any  Registered  Security  of any  series  is
registered at the close of business on any record date applicable to such series
with respect to any  interest  payment date for such series shall be entitled to
receive  the  interest,   if  any,   payable  on  such  interest   payment  date
notwithstanding  any transfer or exchange of such Registered Security subsequent
to the record date and prior to such interest  payment date,  except in the case
of any such  transfer or exchange if and to the extent the Issuer shall  default
in the  payment  of the  interest  due on such  interest  payment  date for such
series, in which case such defaulted interest shall be paid by the Issuer or the
Guarantor to the Persons in whose names  Outstanding  Registered  Securities for
such series are registered at the close of business on a subsequent  record date
(which shall be not less than five Business Days prior to the date of payment of

                                       17
<PAGE>

such defaulted interest)  established by notice given by mail by or on behalf of
the Issuer or the  Guarantor to the Holders of  Registered  Securities  not less
than 15 days  preceding such  subsequent  record date. The term "record date" as
used with  respect to any  interest  payment  date (except a date for payment of
defaulted  interest)  for the  Securities  of any  series  shall  mean  the date
specified as such in the terms of the Registered  Securities of such series, or,
if no such date is so specified,  if such interest payment date is the first day
of a calendar month, the fifteenth day of the next preceding  calendar month or,
if such  interest  payment date is the fifteenth  day of a calendar  month,  the
first day of such calendar month,  whether or not such record date is a Business
Day.

     2.8 Registration, Transfer and Exchange. (a) General Procedures. The Issuer
will keep at each office or agency to be maintained  for the purpose as provided
in Section 3.2 for each series of  Securities  a register or registers in which,
subject to such reasonable regulations as it may prescribe,  it will provide for
the registration of Registered Securities of such series and the registration of
transfer of  Registered  Securities of such series.  Such  register  shall be in
written  form in the  English  language  or in any other  form  capable of being
converted into such form within a reasonable  time. At all reasonable times such
register or registers shall be open for inspection by the Trustee.

     Upon due  presentation  for  registration  of  transfer  of any  Registered
Security  of any series at any such  office or agency to be  maintained  for the
purpose as provided in Section 3.2, the Issuer and the  Guarantor  shall execute
and the Trustee shall  authenticate and deliver in the name of the transferee or
transferees  a new  Registered  Security or  Registered  Securities  of the same
series,  of  like  tenor,  in  authorized  denominations  for a  like  aggregate
principal amount.

     Unregistered  Securities  (except  for any  temporary  global  Unregistered
Securities)  and Coupons  (except for Coupons  attached to any temporary  global
Unregistered Securities) shall be transferable by delivery.

     At the option of the Holder  thereof,  any  Security  may be  exchanged  as
provided below for a Security of the same series,  in authorized  denominations,
of like tenor and in an equal aggregate  principal amount upon surrender of such
Security at an office or agency to be maintained  for such purpose in accordance
with Section 3.2 or as specified pursuant to Section 2.3, and the Issuer and the
Guarantor  shall  execute,  and the Trustee  shall  authenticate  and deliver in
exchange  therefor,  the  Security  or  Securities  which the Holder  making the
exchange shall be entitled to receive  bearing a number or other  distinguishing
symbol  not  contemporaneously  outstanding.  Subject  to the  foregoing,  (i) a
Registered  Security of any series  (other than a  Registered  Global  Security,
except as set  forth  below)  may be  exchanged  for a  Registered  Security  or
Securities of the same series;  (ii) if the  Securities of any Series are issued
in both registered and unregistered form, except as otherwise specified pursuant
to Section  2.3, an  Unregistered  Security  may be  exchanged  for a Registered
Security or Securities of the same series, but a Registered  Security may not be
exchanged for an Unregistered Security or Securities;  and (iii) if Unregistered

                                       18
<PAGE>

Securities  of any series are issued in more than one  authorized  denomination,
except as otherwise  specified  pursuant to Section  2.3, any such  Unregistered
Security may be exchanged for an Unregistered Security or Securities of the same
series;  provided  that in  connection  with the  surrender of any  Unregistered
Securities  that have Coupons  attached,  all unmatured  Coupons and all matured
Coupons in default must be surrendered with the Securities being exchanged.

     All Registered Securities presented for registration of transfer, exchange,
redemption,  repurchase  or payment  shall (if so  required by the Issuer or the
Trustee) be duly  endorsed  by, or be  accompanied  by a written  instrument  or
instruments of transfer in form  satisfactory to the Issuer and the Trustee duly
executed by, the Holder or his attorney duly authorized in writing.

     The Issuer may  require  payment  of a sum  sufficient  to cover any tax or
other governmental charge that may be imposed in connection with any exchange or
registration of transfer of Securities.  No service charge shall be made for any
such transaction.

     The Issuer  shall not be required to exchange or register a transfer of (a)
any  Securities  of any series for a period of 15 days next  preceding the first
mailing of notice of  redemption  of Securities of such series to be redeemed or
(b) any Securities selected,  called or being called for redemption, in whole or
in part, except, in the case of any Security to be redeemed in part, the portion
thereof not so to be redeemed.

               (b) Book-entry Provisions for Global Securities.  Notwithstanding
          any  other  provision  of this  Section  2.8,  unless  and until it is
          exchanged in whole or in part for Securities in definitive  registered
          form, a Registered  Global Security  representing  all or a portion of
          the Securities of a series may not be transferred except as a whole by
          the Depositary for such series to a nominee of such Depositary or by a
          nominee of such  Depositary to such  Depositary or another  nominee of
          such  Depositary  or by  such  Depositary  or any  such  nominee  to a
          successor  Depositary  for such series or a nominee of such  successor
          Depositary.

     Neither the Issuer,  the  Guarantor,  the Trustee,  nor any of their agents
shall  have any  responsibility  or  liability  for any  aspect  of the  records
relating to, or payments made on account of beneficial ownership interests of, a
Registered  Global Security,  or for  maintaining,  supervising or reviewing any
records  relating  to  such  beneficial  ownership  interests.  Members  of,  or
participants  in, the Depositary  ("Agent  Members")  shall have no rights under
this  Indenture  with  respect  to  any  Registered  Global  Security,  and  the
Depositary  may be treated by the  Issuer,  the  Guarantor,  the Trustee and any
agent of the Issuer,  the Guarantor or the Trustee as the absolute owner of such
Registered  Global  Security for all purposes  whatsoever.  Notwithstanding  the
foregoing,  nothing herein shall prevent the Issuer, the Guarantor,  the Trustee
or any agent of the Issuer,  the  Guarantor or the Trustee from giving effect to
any  written  certification,  proxy  or  other  authorization  furnished  by the
Depositary  or impair,  as between the  Depositary  and its Agent  Members,  the
operation  of  customary  practices  governing  the  exercise of the rights of a
beneficial owner of any Security. The Holder of a Registered Global Security may
grant proxies and otherwise  authorize any person,  including  Agent Members and
persons that may hold interests through Agent Members,  to take any action which

                                       19
<PAGE>

a Holder is entitled to take under this Indenture or the  Securities.  Interests
of  beneficial  owners in a Registered  Global  Security may be  transferred  in
accordance  with the  applicable  rules and procedures of the Depositary and the
provisions of this Section.

     If at any time the  Depositary  for any  Registered  Securities of a series
represented by one or more Registered Global Securities notifies the Issuer that
it is  unwilling  or  unable  to  continue  as  Depositary  for such  Registered
Securities or if at any time the Depositary for such Registered Securities shall
no longer be eligible  under  Section 2.4, the Issuer shall  appoint a successor
Depositary   eligible  under  Section  2.4  with  respect  to  such   Registered
Securities.  If a  successor  Depositary  eligible  under  Section  2.4 for such
Registered  Securities  is not  appointed by the Issuer within 90 days after the
Issuer receives such notice or becomes aware of such ineligibility, the Issuer's
election pursuant to Section 2.3 that such Registered  Securities be represented
by one or more Registered Global Securities shall no longer be effective and the
Issuer and the  Guarantor  will  execute,  and the  Trustee,  upon receipt of an
Officers'   Certificate  for  the  authentication  and  delivery  of  definitive
Securities of such series,  will  authenticate  and deliver,  Securities of such
series  in  definitive  registered  form  without  Coupons,  in  any  authorized
denominations,  of like tenor,  in an  aggregate  principal  amount equal to the
principal  amount of the Registered  Global Security or Securities  representing
such Registered  Securities in exchange for such  Registered  Global Security or
Securities.

     The Issuer may at any time and in its sole  discretion  determine  that the
Registered Securities of any series issued in the form of one or more Registered
Global Securities shall no longer be represented by a Registered Global Security
or Securities.  In such event the Issuer and the Guarantor will execute, and the
Trustee,  upon receipt of an Officers'  Certificate for the  authentication  and
delivery of definitive Securities of such series, will authenticate and deliver,
Securities of such series in definitive  registered form without Coupons, in any
authorized denominations,  of like tenor, in an aggregate principal amount equal
to the  principal  amount  of  the  Registered  Global  Security  or  Securities
representing such Registered Securities,  in exchange for such Registered Global
Security or Securities.

     If  specified  by the  Issuer  pursuant  to  Section  2.3 with  respect  to
Securities  represented by a Registered Global Security, the Depositary for such
Registered  Global  Security may surrender such  Registered  Global  Security in
exchange in whole or in part for  Securities  of the same  series in  definitive
registered  form  on  such  terms  as are  acceptable  to the  Issuer  and  such
Depositary.  Thereupon,  the Issuer and the  Guarantor  shall  execute,  and the
Trustee shall authenticate and deliver, without service charge,

               (i) to the Person  specified by such  Depositary a new Registered
          Security  or  Securities  of  the  same  series,   of  any  authorized
          denominations  as  requested  by such  Person,  of like  tenor,  in an
          aggregate  principal amount equal to and in exchange for such Person's
          beneficial interest in the Registered Global Security; and

               (ii) to such  Depositary a new  Registered  Global  Security in a
          denomination  equal to the difference,  if any,  between the principal
          amount of the surrendered Registered Global Security and the aggregate
          principal amount of Registered Securities  authenticated and delivered
          pursuant to clause (i) above.

                                       20
<PAGE>

     Upon the  exchange  of a  Registered  Global  Security  for  Securities  in
definitive  registered  form  without  coupons,  of like  tenor,  in  authorized
denominations,  such Registered Global Security shall be canceled by the Trustee
or an agent of the Issuer or the Trustee.  Securities in  definitive  registered
form  without  coupons  issued in  exchange  for a  Registered  Global  Security
pursuant  to this  Section  2.8 shall be  registered  in such  names and in such
authorized  denominations as the Depositary for such Registered Global Security,
pursuant to instructions from its direct or indirect  participants or otherwise,
shall instruct the Trustee or an agent of the Issuer or the Trustee. The Trustee
or such agent shall deliver such  Securities to or as directed by the Persons in
whose names such Securities are so registered.

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

     Notwithstanding anything herein or in the terms of any series of Securities
to the contrary,  none of the Issuer,  the Trustee or any agent of the Issuer or
the Trustee  (any of which,  other than the Issuer,  shall rely on an  Officers'
Certificate  and an  Opinion of  Counsel)  shall be  required  to  exchange  any
Unregistered  Security for any Outstanding  Registered Security if such exchange
would  result in adverse tax  consequences  to the Issuer (such as, for example,
the  inability  of the Issuer to deduct  from its income,  as  computed  for tax
purposes,  the  interest  payable  on the  Unregistered  Securities)  under then
applicable tax laws.

     2.9 Mutilated,  Defaced, Destroyed, Lost and Stolen Securities. In case any
temporary  or  definitive  Security or any Coupon  appertaining  to any Security
shall  become  mutilated,  defaced  or be  destroyed,  lost  or  stolen,  in the
discretion  of the Issuer and the  Guarantor,  the Issuer and the  Guarantor may
execute,  and upon the written request of any officer of the Issuer, the Trustee
shall authenticate and deliver a new Security of the same series, of like tenor,
bearing  a  number  or  other   distinguishing   symbol  not   contemporaneously
outstanding, in exchange and substitution for the mutilated or defaced Security,
or in lieu of and in substitution for the Security so destroyed,  lost or stolen
with Coupons  corresponding  to the Coupons  appertaining  to the  Securities so
mutilated,  defaced,  destroyed,  lost or stolen, or in exchange or substitution
for the Security to which such  mutilated,  defaced,  destroyed,  lost or stolen
Coupon  appertained,  with Coupons  appertaining  thereto  corresponding  to the
Coupons so  mutilated,  defaced,  destroyed,  lost or stolen.  In every case the
applicant  for a substitute  Security or Coupon shall  furnish to the Issuer and
the  Guarantor  and to the Trustee and any agent of the Issuer and the Guarantor
or the  Trustee  such  security  or  indemnity  as may be  required  by  them to
indemnify  and defend and to save each of them  harmless  and,  in every case of
destruction,  loss or theft,  evidence to their satisfaction of the destruction,
loss or theft of such Security or Coupon and of the ownership thereof and in the
case of  mutilation  or  defacement  shall  surrender  the  Security and related
Coupons to the Trustee or such agent.

     Upon the  issuance of any  substitute  Security  or Coupon,  the Issuer may
require the payment of a sum  sufficient to cover any tax or other  governmental
charge that may be imposed in relation thereto and any other expenses (including
the fees and expenses of the Trustee) or its agent connected therewith.  In case

                                       21
<PAGE>

any  Security  or  Coupon  which has  matured  or is about to mature or has been
called for redemption in full shall become mutilated or defaced or be destroyed,
lost or stolen, the Issuer may instead of issuing a substitute Security,  pay or
authorize  the payment of the same or the  relevant  Coupon  (without  surrender
thereof except in the case of a mutilated or defaced Security or Coupon), if the
applicant  for such payment shall furnish to the Issuer and the Guarantor and to
the Trustee and any agent of the Issuer and the  Guarantor  or the Trustee  such
security or indemnity as any of them may require to save each of them  harmless,
and,  in every case of  destruction,  loss or theft,  the  applicant  shall also
furnish to the Issuer and the  Guarantor  and the  Trustee  and any agent of the
Issuer and the Guarantor or the Trustee  evidence to their  satisfaction  of the
destruction,  loss or theft of such  Security  or  Coupon  and of the  ownership
thereof.

     Every  substitute  Security or Coupon of any series issued  pursuant to the
provisions  of this  Section  by virtue of the fact  that any such  Security  or
Coupon is destroyed,  lost or stolen shall constitute an additional  contractual
obligation of the Issuer, whether or not the destroyed,  lost or stolen Security
or Coupon  shall be at any time  enforceable  by anyone and shall be entitled to
all the benefits of (but shall be subject to all the  limitations  of rights set
forth in) this  Indenture  equally  and  proportionately  with any and all other
Securities or Coupons of such series duly authenticated and delivered hereunder.
All  Securities  and Coupons shall be held and owned upon the express  condition
that,  to the extent  permitted by law, the foregoing  provisions  are exclusive
with respect to the  replacement or payment of mutilated,  defaced or destroyed,
lost or stolen  Securities  and  Coupons  and shall  preclude  any and all other
rights or remedies  notwithstanding  any law or statute  existing  or  hereafter
enacted to the contrary with respect to the replacement or payment of negotiable
instruments or other securities without their surrender.

     2.10 Cancellation of Securities;  Destruction  Thereof.  All Securities and
Coupons  surrendered  for  payment,  repurchase,  redemption,   registration  of
transfer or exchange,  or for credit against any payment in respect of a sinking
or analogous  fund, if  surrendered  to the Issuer or any agent of the Issuer or
the Trustee or any agent of the  Trustee,  shall be  delivered to the Trustee or
its agent for cancellation or, if surrendered to the Trustee, shall be cancelled
by it; and no Securities  or Coupons  shall be issued in lieu thereof  except as
expressly  permitted by any of the provisions of this Indenture.  The Trustee or
its agent shall destroy cancelled  Securities and Coupons held by it and deliver
a certificate of destruction to the Issuer upon written  request.  If the Issuer
or its agent shall acquire any of the  Securities or Coupons,  such  acquisition
shall  not  operate  as  a  redemption  or  satisfaction  of  the   indebtedness
represented  by such  Securities  or  Coupons  unless  and  until  the  same are
delivered to the Trustee or its agent for cancellation.

     2.11 Temporary Securities. Pending the preparation of definitive Securities
for any series,  the Issuer and the  Guarantor may execute and the Trustee shall
authenticate  and  deliver  temporary   Securities  for  such  series  (printed,
lithographed,  typewritten  or  otherwise  reproduced,  in  each  case  in  form
satisfactory  to the  Trustee).  Temporary  Securities  of any  series  shall be
issuable as Registered Securities without coupons, or as Unregistered Securities
with or without coupons attached thereto,  of any authorized  denomination,  and
substantially  in the form of the definitive  Securities of such series but with
such  omissions,  insertions and variations as may be appropriate  for temporary
Securities,  all as may be determined by the Issuer with the  concurrence of the
Trustee as evidenced by the  execution  and  authentication  thereof.  Temporary
Securities  may contain such  references to any  provisions of this Indenture as
may be appropriate. Every temporary Security shall be executed by the Issuer and
the Guarantor and be  authenticated  by the Trustee upon the same conditions and
in  substantially  the same  manner,  and with like  effect,  as the  definitive

                                       22
<PAGE>

Securities.  Without  unreasonable  delay,  the Issuer and the  Guarantor  shall
execute and shall  furnish  definitive  Securities  of such series and thereupon
temporary  Securities  of such series may be  surrendered  in exchange  therefor
without charge, in the case of Registered  Securities,  at each office or agency
to be maintained by the Issuer for that purpose  pursuant to Section 3.2 and, in
the case of Unregistered  Securities,  at any office or agency maintained by the
Issuer for such  purpose as  specified  pursuant to Section 2.3, and the Trustee
shall authenticate and deliver in exchange for such temporary Securities of such
series an equal aggregate principal amount of definitive  Securities of the same
series  having  authorized  denominations  and,  in  the  case  of  Unregistered
Securities, having attached thereto any appropriate Coupons. Until so exchanged,
the  temporary  Securities  of any series shall be entitled to the same benefits
under this Indenture as definitive  Securities of such series,  unless otherwise
established  pursuant to Section 2.3. The provisions of this Section are subject
to any  restrictions or limitations  that may be established with respect to the
Securities of any series  pursuant to Section 2.3  (including any provision that
Unregistered  Securities  of such  series  initially  be issued in the form of a
single global Unregistered Security to be delivered to a depositary or an agency
located  outside  the  United  States  and  the  procedures  pursuant  to  which
definitive or global  Unregistered  Securities of such series would be issued in
exchange for such temporary global Unregistered Security).

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

     2.13 Certain Restrictive Legends.

          (a) Private Placement Legend.  Except as set forth in Section 2.14(i),
     unless  and until an  Initial  Note is (i) sold  pursuant  to an  effective
     registration  statement,   whether  pursuant  to  the  Registration  Rights
     Agreement  or  otherwise  or  (ii)  exchanged  for an  Exchange  Note in an
     exchange  offer  pursuant  to  an  effective  exchange  offer  registration
     statement pursuant to the Registration Rights Agreement, (A) any Registered
     Global   Security   representing   such  Initial  Note  or  any  definitive
     certificated  Security  representing  such  Initial  Note  shall  bear  the
     following  legend set forth below (the "Private  Placement  Legend") on the
     face thereof and (B) any Offshore Global Security representing such Initial
     Note shall bear the Private  Placement Legend on the face thereof until the
     termination  of the  Restricted  Period  and  receipt by the Issuer and the
     Trustee of a  certificate  substantially  in the form provided in Exhibit B
     with  respect to the entire  principal  amount of such  Temporary  Offshore
     Global Security:

     THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
     AS AMENDED (THE "SECURITIES  ACT"), OR THE SECURITIES LAWS OF ANY STATE

                                       23
<PAGE>

     OR OTHER  JURISDICTION.  NEITHER  THIS  SECURITY  NOR ANY  INTEREST  OR
     PARTICIPATION  HEREIN MAY BE REOFFERED,  SOLD,  ASSIGNED,  TRANSFERRED,
     PLEDGED,  ENCUMBERED  OR  OTHERWISE  DISPOSED OF IN THE ABSENCE OF SUCH
     REGISTRATION OR UNLESS SUCH  TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
     TO, SUCH REGISTRATION.

     THE HOLDER OF THIS SECURITY,  BY ITS ACCEPTANCE  HEREOF,  AGREES ON ITS
     OWN  BEHALF  AND ON BEHALF  OF ANY  INVESTOR  ACCOUNT  FOR WHICH IT HAS
     PURCHASED   SECURITIES  TO  OFFER,  SELL  OR  OTHERWISE  TRANSFER  SUCH
     SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION DATE")
     THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL  ISSUE DATE HEREOF OR
     THE LAST DATE ON WHICH THE  ISSUER OR ANY  AFFILIATE  OF THE ISSUER WAS
     THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY:

               (A) TO THE ISSUER OR THE GUARANTOR,

               (B)  PURSUANT  TO A  REGISTRATION  STATEMENT  THAT  HAS  BEEN
          DECLARED EFFECTIVE UNDER THE SECURITIES ACT,

               (C) FOR SO LONG AS THE  SECURITIES  ARE  ELIGIBLE  FOR RESALE
          PURSUANT  TO RULE 144A UNDER THE  SECURITIES  ACT,  TO A PERSON IT
          REASONABLY  BELIEVES  IS  A  "QUALIFIED  INSTITUTIONAL  BUYER"  AS
          DEFINED IN RULE 144A UNDER THE  SECURITIES  ACT THAT PURCHASES FOR
          ITS OWN ACCOUNT OR FOR THE  ACCOUNT OF A  QUALIFIED  INSTITUTIONAL
          BUYER TO WHOM  NOTICE IS GIVEN THAT THE  TRANSFER IS BEING MADE IN
          RELIANCE ON RULE 144A,

               (D)  PURSUANT  TO OFFERS  AND SALES THAT  OCCUR  OUTSIDE  THE
          UNITED  STATES  WITHIN  THE  MEANING  OF  REGULATION  S UNDER  THE
          SECURITIES ACT,

               (E) TO AN  INSTITUTIONAL  "ACCREDITED  INVESTOR"  WITHIN  THE
          MEANING OF RULE  501(a)(1),  (2), (3) OR (7) UNDER THE  SECURITIES
          ACT THAT IS AN  INSTITUTIONAL  ACCREDITED  INVESTOR  ACQUIRING THE
          SECURITY  FOR  ITS  OWN  ACCOUNT  OR FOR  THE  ACCOUNT  OF SUCH AN
          INSTITUTIONAL  ACCREDITED  INVESTOR,  IN EACH  CASE  IN A  MINIMUM
          PRINCIPAL  AMOUNT OF THE  SECURITIES OF $250,000,  FOR  INVESTMENT
          PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION
          WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR

                                     24
<PAGE>

               (F)  PURSUANT  TO  ANOTHER   AVAILABLE   EXEMPTION  FROM  THE
          REGISTRATION  REQUIREMENTS OF THE SECURITIES  ACT,  SUBJECT TO THE
          ISSUER'S AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER,  SALE OR
          TRANSFER  PURSUANT  TO  CLAUSE  (D),  (E) OR (F)  TO  REQUIRE  THE
          DELIVERY  OF AN OPINION OF  COUNSEL,  CERTIFICATION  AND/OR  OTHER
          INFORMATION  SATISFACTORY  TO EACH OF THEM.  THIS  LEGEND  WILL BE
          REMOVED   UPON  THE  REQUEST  OF  THE  HOLDER   AFTER  THE  RESALE
          RESTRICTION TERMINATION DATE.

          (b) Effect of  Private  Placement  Legend.  By its  acceptance  of any
     Security bearing the Private Placement Legend, each Holder of such Security
     acknowledges  the  restrictions  on transfer of such  Security set forth in
     this Indenture and in the Private  Placement Legend and agrees that it will
     transfer such Security only as provided in this Indenture.

          (c) Regulation S Legend. Each Temporary Offshore Global Security shall
     bear the following legend on the face thereof:

          THIS NOTE IS A TEMPORARY GLOBAL SECURITY.  PRIOR TO THE EXPIRATION
          OF THE RESTRICTED PERIOD APPLICABLE HERETO,  BENEFICIAL  INTERESTS
          HEREIN  MAY NOT BE HELD BY ANY  PERSON  OTHER  THAN (1) A NON-U.S.
          PERSON OR (2) A U.S.  PERSON  WHO  PURCHASED  SUCH  INTEREST  IN A
          TRANSACTION EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT
          OF 1933, AS AMENDED (THE "SECURITIES ACT"),  PURSUANT TO RULE 144A
          THEREUNDER.  BENEFICIAL  INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR
          PHYSICAL  NOTES OTHER THAN A PERMANENT  GLOBAL NOTE IN  ACCORDANCE
          WITH THE TERMS OF THE INDENTURE.  TERMS IN THIS LEGEND ARE USED AS
          USED IN REGULATION S UNDER THE SECURITIES ACT.

     2.14 Transfer Restrictions and Other Transfer Provisions. The provisions of
this Section 2.14 shall apply to all transfers  involving any physical notes and
any beneficial interest in any Registered Global Security.  A Security that is a
Restricted  Security  may not be  transferred  other  than as  provided  in this
Section 2.14. A beneficial  interest in a Registered  Global  Security that is a
Restricted  Security may not be exchanged  for a beneficial  interest in another
Registered Global Security other than through a transfer in compliance with this
Section 2.14.  Unless and until an Initial Note is sold pursuant to an effective
registration statement, whether pursuant to the Registration Rights Agreement or
otherwise,  or  is  exchanged  for  an  Exchange  Note  in  the  exchange  offer
contemplated  by the  Registration  Rights  Agreement  pursuant to an  effective
registration  statement, or the Resale Restriction Termination Date has occurred
with  respect to such  Initial Note and such Initial Note is not then held by an
Affiliate of the Issuer,  the following  provisions  shall apply with respect to
such Initial Note:

                                       25
<PAGE>

          (a)  Transfers to Non-QIB  Institutional  Accredited  Investors.  With
     respect to the registration of any proposed  transfer of a Security that is
     a Restricted Security to any Institutional  Accredited Investor that is not
     a QIB,

          (i) the registrar shall register such transfer

               (A) if it complies with all other applicable requirements of this
          Indenture;

               (B) the proposed  transferee  has  delivered  to the  registrar a
          certificate  substantially in the form of Exhibit D, and such transfer
          is in respect of an aggregate  principal  amount of  Securities of not
          less than $250,000; and

               (C) if the  proposed  transferor  is an Agent Member or is acting
          through an Agent Member holding a beneficial  interest in a Registered
          Global Security, upon receipt by the registrar of written instructions
          given  in  accordance  with  the   Depositary's  and  the  registrar's
          procedures; and

          (ii) the  registrar  shall (A) reflect on its books and  records  (and
     make a notation on the relevant Registered Global Security of) the date and
     a  decrease  in the  principal  amount of the  relevant  Registered  Global
     Security  in an amount  equal to the  principal  amount  of the  beneficial
     interest in the relevant  Registered  Global  Security to be transferred or
     (B) cancel the physical note so  transferred  and deliver to the transferee
     one or more physical notes of like tenor and aggregate principal amount.

Each of the  Issuer,  the  Guarantor  and the  Trustee  may  require  additional
opinions,  certifications  or other  evidence as may be  reasonably  required to
confirm that any such  proposed  transfer is being made in  compliance  with the
Securities Act and applicable state securities laws.

          (b)  Transfers  to  QIBs.  With  respect  to the  registration  of any
     proposed transfer of a Security that is a Restricted Security to a QIB,

          (i) the registrar shall register such transfer

               (A) if it complies with all other applicable requirements of this
          Indenture;

               (B) the proposed  transferor  has checked the box provided for on
          the form of such Security stating,  or has otherwise  certified to the
          Issuer and the  registrar  in writing,  that the sale has been made in
          compliance  with the  provisions of Rule 144A to a transferee  who has
          signed the  certification  provided  for on the form of such  Security
          stating, or has otherwise certified to the Issuer and the registrar in
          writing, that it is purchasing such Security for its own account or an
          account with respect to which it exercises sole investment  discretion
          and that it and any such  account is a QIB within the  meaning of Rule
          144A,  and is aware that the sale to it is being made in  reliance  on
          Rule  144A and  acknowledges  that it has  received  such  information
          regarding the Issuer as it has requested  pursuant to Rule 144A or has
          determined not to request such  information  and that it is aware that
          the transferor is relying upon its foregoing  representations in order
          to claim the exemption from registration provided by Rule 144A; and

                                       26
<PAGE>

               (C) if the proposed  transferor  or transferee is an Agent Member
          or is acting through an Agent Member, upon receipt by the registrar of
          written instructions given in accordance with the Depositary's and the
          registrar's procedures; and

          (ii) the registrar  shall (A) cancel the physical note so  transferred
     or (B)  reflect  on its  books and  records  (and  make a  notation  on the
     relevant  Registered  Global  Security  of) the date and a decrease  in the
     principal amount of the transferor  Registered Global Security, as the case
     may be, and the  registrar  shall (x) reflect on its books and records (and
     make a notation on the relevant Registered Global Security of) the date and
     an increase in the principal  amount of the  transferee  Registered  Global
     Security or (y) deliver to the  transferee  one or more  physical  notes of
     like tenor and aggregate principal amount.

Each of the  Issuer,  the  Guarantor  and the  Trustee  may  require  additional
opinions,  certifications  or other  evidence as may be  reasonably  required to
confirm that any such  proposed  transfer is being made in  compliance  with the
Securities Act and applicable state securities laws.

          (c)   Transfers  of  Interests  in  the  Temporary   Offshore   Global
     Securities.  With respect to the  registration of any proposed  transfer of
     interests in any Temporary Offshore Global Security,

          (i) the registrar  shall register the transfer of any interest in such
     Security only

               (A) if the  proposed  transferee  is a  Non-U.S.  Person  and the
          proposed  transferor  has  delivered  to the  registrar a  certificate
          substantially  in the form of  Exhibit C hereto and  proposes  to take
          delivery in the form of an interest in the Temporary  Offshore  Global
          Security; or

               (B)  if  the  proposed  transferee  is a  QIB  and  the  proposed
          transferor  has  checked  the  box  provided  for on the  form  of the
          Security  stating,  or has  otherwise  certified to the Issuer and the
          registrar in writing,  that the sale has been made in compliance  with
          provisions   of  Rule  144A  to  a  transferee   who  has  signed  the
          certification provided for on the form of the Security stating, or has
          otherwise advised the Issuer and the registrar in writing,  that it is
          purchasing the Security for its own account or an account with respect
          to which it exercises sole  investment  discretion and that it and any
          such  account is a QIB within the  meaning of Rule 144A,  and is aware
          that  the  sale to it is  being  made in  reliance  on Rule  144A  and
          acknowledges  that it has  received  such  information  regarding  the
          Issuer as it has requested pursuant to Rule 144A or has determined not
          to request such  information  and that it is aware that the transferor
          is relying upon its  foregoing  representations  in order to claim the
          exemption from registration provided by Rule 144A; and

                                       27
<PAGE>

               (C) upon receipt by the registrar of written  instructions  given
          in accordance with the  Depositary's  and the registrar's  procedures;
          and

          (ii) the registrar  shall reflect on its books and records (and make a
     notation on the  relevant  Registered  Global  Security of) the date and an
     increase  in the  principal  amount  of the  transferee  Registered  Global
     Security,  in an amount  equal to the  principal  amount  of the  Temporary
     Offshore Global Security to be transferred, and the registrar shall reflect
     on its books and records  (and make a notation on the  relevant  Registered
     Global Security of) the date and a decrease in the principal  amount of the
     transferor Temporary Offshore Global Security.

Each of the  Issuer,  the  Guarantor  and the  Trustee  may  require  additional
opinions,  certifications  or other  evidence as may be  reasonably  required to
confirm that any such  proposed  transfer is being made in  compliance  with the
Securities Act and applicable state securities laws.

          (d) Transfers to Non-U.S. Persons. With respect to the registration of
     any  proposed  transfer of a Security  that is a  Restricted  Security to a
     Non-U.S.  Person  (except for any transfer of a Temporary  Offshore  Global
     Security referred to above)

          (i) the registrar shall register such transfer:

               (A) if it complies with all other applicable requirements of this
          Indenture;

               (B) if the  proposed  transfer  is to be made prior to the end of
          the Restricted Period, upon receipt of a certificate  substantially in
          the form of Exhibit C hereto from the proposed transferor;

               (C) if the  proposed  transfer is to be made after the end of the
          Restricted  Period  and  the  Security  to be  transferred  is a  U.S.
          certificated note or an interest in a U.S. Registered Global Security,
          only  upon  receipt  of a  certificate  substantially  in the  form of
          Exhibit C from the proposed transferor; and

               (D) if the proposed  transferor  or transferee is an Agent Member
          or is acting through an Agent Member, upon receipt by the registrar of
          written  instructions  in  accordance  with the  Depositary's  and the
          registrar's procedures; and

          (ii) the  registrar  shall (A) reflect on its books and  records  (and
     make a notation on the relevant Registered Global Security of) the date and
     a decrease in the  principal  amount of the  transferor  Registered  Global
     Security in an amount equal to the principal  amount to be  transferred  or
     (B) cancel the physical notes so  transferred,  as the case may be, and the
     registrar  shall (x) reflect on its books and records  (and make a notation
     on the relevant  Registered Global Security of) the date and an increase in
     the principal  amount of the  transferee  Offshore  Global  Security or (y)
     deliver  to the  transferee  one or more  physical  notes of like tenor and
     aggregate principal amount.

                                       28
<PAGE>

Each of the  Issuer,  the  Guarantor  and the  Trustee  may  require  additional
opinions,  certifications  or other  evidence as may be  reasonably  required to
confirm that any such  proposed  transfer is being made in  compliance  with the
Securities Act and applicable state securities laws.

          (e) Transfers  pursuant to Rule 144. With respect to the  registration
     of any  proposed  transfer  of a  Security  that is a  Restricted  Security
     pursuant  to the  exemption  from  registration  under the  Securities  Act
     provided by Rule 144 thereunder,

          (i) the registrar shall register such transfer

               (A) if it complies with all other requirements of this Indenture;

               (B) if such transfer is being made by a proposed  transferor  who
          has checked the box provided for on the form of such Security stating,
          or has otherwise certified to the Issuer and the registrar in writing,
          that the sale has been made in compliance  with the provisions of Rule
          144; and

               (C) if the proposed  transferor  or transferee is an Agent Member
          or is acting through an Agent Member, upon receipt by the registrar of
          written instructions given in accordance with the Depositary's and the
          registrar's procedures; and

          (ii) the  registrar  shall (a) reflect on its books and  records  (and
     make a notation on the relevant Registered Global Security of) the date and
     a decrease in the principal  amount of such  transferor  Registered  Global
     Security in an amount equal to the principal  amount to be  transferred  or
     (b) cancel the physical note so  transferred  and the  registrar  shall (x)
     reflect  on its books and  records  (and make a  notation  on the  relevant
     Registered  Global  Security of) the date and an increase in the  principal
     amount of the transferee  Registered  Global Security or (y) deliver to the
     transferee physical notes in like tenor and aggregate principal amount.

Each of the  Issuer,  the  Guarantor  and the  Trustee  may  require  additional
opinions,  certifications  or other  evidence as may be  reasonably  required to
confirm that any such  proposed  transfer is being made in  compliance  with the
Securities Act and applicable state securities laws.

          (f)  Transfers  to the Issuer or the  Guarantor.  With  respect to the
     registration  of any  proposed  transfer of a Security to the Issuer or the
     Guarantor,

          (i) the registrar shall register such transfer

               (A) if it complies with all other requirements of this Indenture;

               (B) if such transfer is being made by a proposed  transferor  who
          has checked the box provided for on the form of such Security stating,
          or has otherwise certified to the Issuer and the registrar in writing,
          that the sale has been made to the Issuer; and

                                       29
<PAGE>

               (C) if the  proposed  transferor  is an Agent Member or is acting
          through an Agent  Member,  upon  receipt by the  registrar  of written
          instructions  given  in  accordance  with  the  Depositary's  and  the
          registrar's procedures; and

          (ii) the  registrar  shall (A) reflect on its books and  records  (and
     make a notation on the relevant Registered Global Security of) the date and
     a decrease in the principal  amount of such  transferor  Registered  Global
     Security in an amount equal to the principal  amount to be  transferred  or
     (B) cancel the physical  note so  transferred,  as the case may be, and the
     registrar  shall  deliver  physical  notes to the  Issuer in like tenor and
     aggregate principal amount.

          (g) Interests in the Offshore Global Security Prior to the Termination
     of  the  Restricted  Period.   Notwithstanding  anything  to  the  contrary
     contained in this Indenture, until the termination of the Restricted Period
     occurs and appropriate certification substantially in the form of Exhibit B
     is made as provided in Section  2.1,  beneficial  interests in the Offshore
     Global Security may be held only in or through  accounts  maintained at the
     Depositary by Euroclear or Clearstream,  and no person shall be entitled to
     effect any  transfer or  exchange  that would  result in any such  interest
     being held  otherwise  than in or through such an account,  and no physical
     notes may be issued in exchange therefor.

          (h) Other  Transfers.  The registrar  shall effect and register,  upon
     receipt  of a written  request  from the  Issuer to do so, a  transfer  not
     otherwise  permitted by this Section 2.14(h),  such registration to be done
     in  accordance  with the  otherwise  applicable  provisions of this Section
     2.14(h),  upon the furnishing by the proposed transferor or transferee of a
     written  opinion of counsel  (which  opinion and counsel must be reasonably
     satisfactory  to the Issuer and the Trustee) to the effect  that,  and such
     other certifications or evidence as the Issuer may require to confirm that,
     the proposed  transfer is being made pursuant to an exemption from, or in a
     transaction not subject to, the registration requirements of the Securities
     Act and otherwise in compliance with applicable state securities laws.

          (i) Legends on Transferred Securities.  Upon the transfer, exchange or
     replacement of Securities  not bearing the Private  Placement  Legend,  the
     registrar shall deliver  Securities that do not bear the Private  Placement
     Legend.  Upon the transfer,  exchange or replacement of Securities  bearing
     the Private Placement  Legend,  the registrar shall deliver only Securities
     that bear the Private Placement Legend,  unless (i) the requested  transfer
     is after the relevant Resale  Restriction  Termination Date with respect to
     such  Securities,  (ii) upon  written  request of the Issuer after there is
     delivered to the registrar an opinion of counsel (which opinion and counsel
     must be  reasonably  satisfactory  to the  Issuer and the  Trustee)  to the
     effect that  neither such legend nor the related  restrictions  on transfer
     are required in order to maintain  compliance  with the  provisions  of the
     Securities Act, (iii) with respect to an Offshore Global Security, with the
     agreement  of the  Issuer on or after  the  termination  of the  Restricted
     Period with  respect to such  Security,  (iv) such  Securities  are sold or
     exchanged  pursuant  to  an  effective  registration  statement  under  the
     Securities Act or (v) such Securities are sold pursuant to Rule 144 and the
     requirements of this Indenture.

                                       30
<PAGE>

                                  ARTICLE III

                CERTAIN COVENANTS OF THE ISSUER AND THE GUARANTOR

     3.1 Payment of Principal and Interest.  The Issuer covenants and agrees for
the benefit of each series of Securities that it will duly and punctually pay or
cause to be paid the  principal  of, and interest on, each of the  Securities of
such series (together with any additional  amounts payable pursuant to the terms
of such  Securities) at the place or places,  at the respective times and in the
manner provided in such Securities and in the Coupons  appertaining  thereto and
in this Indenture. The interest on Unregistered Securities with Coupons attached
shall be payable only upon presentation and surrender of the Coupons  evidencing
the right to such  installment  of interest  as they  severally  mature.  If any
temporary Unregistered Security provides that interest thereon may be paid while
such  Security  is in  temporary  form,  the  interest  on  any  such  temporary
Unregistered  Security  shall  be  paid,  as to  the  installments  of  interest
evidenced  by Coupons  attached  thereto,  if any,  only upon  presentation  and
surrender thereof,  and, as to the other installments of interest,  if any, only
upon presentation of such Securities for notation thereon of the payment of such
interest,  in each case  subject  to any  restrictions  that may be  established
pursuant to Section 2.3. The interest on Registered  Securities  (together  with
any additional  amounts payable pursuant to the terms of such Securities)  shall
be payable  only to or upon the written  order of the Holders  entitled  thereto
and,  at the option of the  Issuer,  may be paid by wire  transfer or by mailing
checks for such interest payable to or upon the written order of such Holders at
their last addresses as they appear on the registry books of the Issuer. For the
purposes of the Interest Act (Canada), if in this Indenture or in any Security a
rate of interest  is or is to be  calculated  on the basis of a period  which is
less than a full calendar  year,  the yearly rate of interest to which such rate
is equivalent  shall be such rate multiplied by the actual number of days in the
calendar  year for which such  calculation  is made and divided by the number of
days in such period. The rates of interest set forth in this Indenture or in any
Security will be  calculated  using the nominal rate method of  calculation  and
will not be calculated  using the effective rate method of calculation or on any
other  basis that  gives  effect to the  principle  of deemed  re-investment  of
interest.  In calculating interest or fees payable under this Indenture or on or
with respect to a Security for any period, unless otherwise provided,  the first
day of such period  shall be included  and the last day of such period  shall be
excluded.

     3.2 Offices for  Payments,  etc. The Issuer will maintain in the Borough of
Manhattan,  The City of New York, an agency where the  Registered  Securities of
each series may be presented for payment, an agency where the Securities of each
series may be presented  for exchange as is provided in this  Indenture  and, if
applicable, pursuant to Section 2.3 an agency where the Registered Securities of
each series may be presented for  registration  of transfer as in this Indenture
provided.

     The Issuer will maintain one or more  agencies in a city or cities  located
outside  the  United  States  (including  any city in which  such an  agency  is
required  to be  maintained  under the rules of any stock  exchange on which the
Securities of such series are listed) where the Unregistered Securities, if any,
of each series and Coupons,  if any,  appertaining  thereto may be presented for
payment.  No payment on any  Unregistered  Security  or Coupon will be made upon
presentation of such Unregistered  Security or Coupon at an agency of the Issuer
within the United  States nor will any payment be made by transfer to an account
in, or by mail to an address in, the United States unless pursuant to applicable

                                       31
<PAGE>

United  States  laws and  regulations  then in effect  such  payment can be made
without adverse tax consequences to the Issuer.  Notwithstanding  the foregoing,
payments  in  Dollars of  Unregistered  Securities  of any  series  and  Coupons
appertaining  thereto  which are  payable in Dollars may be made at an agency of
the Issuer maintained in the Borough of Manhattan,  The City of New York if such
payment in Dollars at each agency  maintained  by the Issuer  outside the United
States for payment on such  Unregistered  Securities  is illegal or  effectively
precluded by exchange controls or other similar restrictions.

     Each of the  Issuer  and the  Guarantor  will  maintain  in the  Borough of
Manhattan,  The City of New York, an agency where notices and demands to or upon
the Issuer or the  Guarantor  in respect of the  Securities  of any series,  the
Coupons appertaining thereto or this Indenture may be served.

     The Issuer will give to the Trustee  written notice of the location of each
such  agency and of any change of  location  thereof.  In case the Issuer or the
Guarantor  shall fail to  maintain  any agency  required  by this  Section to be
located in the Borough of Manhattan, The City of New York, or shall fail to give
such notice of the location or of any change in the location of any of the above
agencies, presentations and demands may be made and notices may be served at the
Corporate Trust Office of the Trustee.

     The Issuer may from time to time designate one or more additional  agencies
where  the  Securities  of a series  and  Coupons  appertaining  thereto  may be
presented for payment,  where the Securities of that series may be presented for
exchange as provided in this  Indenture and where the  Registered  Securities of
that series may be presented for  registration  of transfer as in this Indenture
provided, and the Issuer may from time to time rescind any such designation,  as
the Issuer may deem  desirable or  expedient;  provided,  however,  that no such
designation  or  rescission  shall  in any  manner  relieve  the  Issuer  of its
obligation to maintain the agencies  provided for in the  immediately  preceding
paragraphs.  The Issuer will give to the Trustee  prompt  written  notice of any
such designation or rescission thereof.

     3.3  Appointment  to Fill a  Vacancy  in  Office of  Trustee.  The  Issuer,
whenever  necessary  to avoid or fill a vacancy in the office of  Trustee,  will
appoint,  in the manner provided in Section 6.10, a Trustee, so that there shall
at all times be a Trustee with respect to each series of Securities hereunder.

     3.4 Paying  Agents.  Whenever the Issuer shall appoint a paying agent other
than the Trustee with  respect to the  Securities  of any series,  it will cause
such paying agent to execute and deliver to the Trustee an  instrument  in which
such agent  shall  agree with the  Trustee,  subject to the  provisions  of this
Section that such paying agent,

          (a) will hold all sums received by it as such agent for the payment of
     the principal of or interest on the Securities of such series (whether such
     sums  have been paid to it by the  Issuer  or by any other  obligor  on the
     Securities  of such  series) in trust for the benefit of the Holders of the
     Securities  of such  series,  or Coupons  appertaining  thereto,  or of the
     Trustee,  until  such  sums  shall  be paid to such  holders  or  otherwise
     disposed of as herein provided;

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<PAGE>

          (b) will give the  Trustee  notice of any failure by the Issuer (or by
     any other obligor on the  Securities of such series) to make any payment of
     the principal of or interest on the Securities of such Series when the same
     shall be due and payable, and

          (c) at any time during the  continuance of any such failure,  upon the
     written  request of the Trustee,  it will  forthwith pay to the Trustee all
     sums so held in trust by such paying agent.

     The  Issuer  will,  on or prior to each  due  date of the  principal  of or
interest on the  Securities of such series,  deposit with the paying agent a sum
sufficient  to pay such  principal or interest so becoming due, and (unless such
paying agent is the Trustee) the Issuer will promptly  notify the Trustee of its
action or any failure to take such action.

     If the Issuer, the Guarantor, any Subsidiary or any Affiliate of the Issuer
or the  Guarantor,  shall act as paying agent with respect to the  Securities of
any series,  it will, on or before each due date of the principal of or interest
on the Securities of such series, set aside, segregate and hold in trust for the
benefit  of  the  Holders  of the  Securities  of  such  series  or the  Coupons
appertaining  thereto a sum  sufficient  to pay such  principal  or  interest so
becoming due. The Issuer will  promptly  notify the Trustee of its action or any
failure to take such action.

     Anything in this Section to the contrary notwithstanding, the Issuer may at
any time, for the purpose of obtaining a satisfaction and discharge with respect
to one or more or all series of Securities  hereunder,  or for any other reason,
pay or cause to be paid,  or by Issuer  Order  direct any paying agent to pay to
the  Trustee  all sums  held in trust for any such  series by the  Issuer or any
paying agent hereunder, as required by this Section, such sums to be held by the
Trustee upon the trusts herein contained.

     Anything in this Section to the contrary notwithstanding,  the agreement to
hold sums in trust as provided in this Section is subject to the  provisions  of
Sections 10.3 and 10.4.

     3.5 Written Statement to Trustee. Each of the Issuer and the Guarantor will
deliver to the Trustee  annually,  commencing May 23, 2003, a certificate,  from
its  principal  executive  officer,  principal  financial  officer or  principal
accounting  officer,  stating whether or not to the best knowledge of the signer
thereof  the  Issuer  or the  Guarantor,  as the case may be,  is in  compliance
(without regard to periods of grace or notice  requirements) with all conditions
and covenants under this Indenture,  and if the Issuer or the Guarantor,  as the
case may be, shall not be in compliance,  specifying such non-compliance and the
nature and status thereof of which such signer may have knowledge.

     3.6 Luxembourg Publications.  In the event of the publication of any notice
pursuant to Section 5.11,  6.10(a),  6.11,  8.2,  10.4,  12.2 or 12.5, the party
making such  publication  in the Borough of Manhattan,  The City of New York and
London shall also,  to the extent that notice is required to be given to Holders
of  Securities  of any series by  applicable  Luxembourg  law or stock  exchange
regulation,  as evidenced by an Officers'  Certificate  delivered to such party,
make a similar publication in Luxembourg.

     3.7 Certain Covenants  Applicable to the Securities;  Limitations on Liens.
For the benefit of Holders of the  Securities,  the Guarantor  covenants in this
Indenture that it will not, and will not permit any Subsidiary to, issue, incur,

                                       33
<PAGE>

create,  assume  or  guarantee  any  debt  for  borrowed  money  (including  all
obligations  evidenced  by  bonds,  debentures,  notes or  similar  instruments)
secured  by a  mortgage,  security  interest,  pledge,  lien,  charge  or  other
encumbrance ("mortgage") upon any Principal Property or upon any shares of stock
or  indebtedness  of any  Subsidiary  that owns or leases a  Principal  Property
(whether such Principal  Property,  shares or  indebtedness  are now existing or
owed or  hereafter  created or  acquired)  without in any such case  effectively
providing concurrently with the issuance,  incurrence,  creation,  assumption or
guaranty  of any such  secured  debt,  or the grant of such  mortgage,  that the
Securities  (together  with,  if the  Guarantor  shall so  determine,  any other
indebtedness of or guarantee by the Guarantor or such Subsidiary ranking equally
with the  Securities)  shall be secured  equally  and  ratably  with (or, at the
option of the Guarantor, prior to) such secured debt. The foregoing restriction,
however,  will not apply to each of the  following:  (a)  mortgages on property,
shares of stock or indebtedness  or other assets of any corporation  existing at
the time such corporation becomes a Subsidiary,  provided that such mortgages or
liens  are not  incurred  in  anticipation  of  such  corporation's  becoming  a
Subsidiary;  (b) mortgages on property, shares of stock or indebtedness or other
assets  existing  at the  time of  acquisition  thereof  by the  Guarantor  or a
Subsidiary  or to secure the  payment of all or any part of the  purchase  price
thereof,  or  mortgages on property,  shares of stock or  indebtedness  or other
assets to secure any debt incurred  prior to, at the time of, or within 180 days
after,  the latest of the acquisition  thereof or, in the case of property,  the
completion of  construction,  the completion of improvements or the commencement
of  substantial  commercial  operation  of  such  property  for the  purpose  of
financing all or any part of the purchase price thereof,  such  construction  or
the making of such improvements;  (c) mortgages to secure  indebtedness owing to
the  Guarantor or to a  Subsidiary;  (d)  mortgages  existing at the date of the
initial issuance of any Securities then  outstanding;  (e) mortgages on property
of a Person existing at the time such Person is merged into or consolidated with
the  Guarantor  or a  Subsidiary  or at the  time  of a  sale,  lease  or  other
disposition of the properties of a Person as an entirety or  substantially as an
entirety to the  Guarantor or a Subsidiary  provided  that such mortgage was not
incurred in anticipation of such merger or consolidation or sale, lease or other
disposition;  (f)  mortgages  in favor of the  United  States of  America or any
state,  territory or possession  thereof (or the District of  Columbia),  or any
department,  agency,  instrumentality  or  political  subdivision  of the United
States of America or any state, territory or possession thereof (or the District
of Columbia), to secure partial, progress, advance or other payments pursuant to
any contract or statute or to secure any  indebtedness  incurred for the purpose
of financing all or any part of the purchase  price or the cost of  constructing
or improving the property subject to such mortgages; or (g) extensions, renewals
or replacements of any mortgage  referred to in the foregoing  clauses (a), (b),
(d), (e) or (f);  provided,  however,  that the principal amount of indebtedness
secured thereby shall not exceed the principal amount of indebtedness so secured
at the time of such extension,  renewal or replacement.  Any mortgages permitted
by any of the foregoing clauses (a) through (g) shall not extend to or cover any
Principal  Property of the  Guarantor or such  Subsidiary  or shares of stock or
indebtedness  of such  Subsidiary,  as the case may be, other than the property,
including improvements thereto, stock or indebtedness specified in such clauses.

     Notwithstanding the restrictions  outlined in the preceding paragraph,  the
Guarantor or any Subsidiary will be permitted to issue, incur, create, assume or
guarantee  debt secured by a mortgage  which would  otherwise be subject to such
restrictions, without equally and ratably securing the Securities, provided that
after giving  effect  thereto,  the  aggregate  amount of all debt so secured by

                                       34
<PAGE>

mortgages  (not  including  mortgages  permitted  under  clauses (a) through (g)
above)  does not  exceed  20% of the  Consolidated  Net  Tangible  Assets of the
Guarantor.

     3.8 Limitations on Sale and Lease-Back Transactions. For the benefit of the
Holders of the Securities, the Guarantor covenants that it will not, nor will it
permit any Subsidiary to, enter into any Sale and  Lease-Back  Transaction  with
respect to any Principal Property,  other than any such transaction  involving a
lease for a term of not more than three  years or any such  transaction  between
the  Guarantor  and a  Subsidiary  or  between  Subsidiaries,  unless:  (a)  the
Guarantor or such Subsidiary would be entitled to incur indebtedness  secured by
a mortgage on the Principal Property involved in such transaction at least equal
in amount to the  Attributable  Debt with  respect  to such Sale and  Lease-Back
Transaction,  without equally and ratably  securing the Securities,  pursuant to
the limitation on liens described above; or (b) the proceeds of such transaction
are at least equal to the fair market value of the affected  Principal  Property
(as  determined  in good faith by the Board of  Directors of the  Guarantor,  as
evidenced by a Board  Resolution of the Guarantor) and the Guarantor  applies an
amount equal to the greater of the net proceeds of such sale or the Attributable
Debt with  respect to such Sale and  Lease-Back  Transaction  within 180 days of
such sale to either (or a  combination  of) (i) the  retirement  (other than any
mandatory retirement, mandatory prepayment or sinking fund payment or by payment
at maturity) of debt for borrowed money of the Guarantor or a Subsidiary  (other
than debt that is  subordinated  to the Securities or debt to the Guarantor or a
subsidiary)  that matures more than 12 months after its creation of such debt or
(ii) the purchase, construction or development of other comparable property.

     3.9 Corporate  Existence.  Subject to Article IX, the Guarantor shall do or
cause to be done all things  necessary  to  preserve  and keep in full force and
effect  its  corporate  existence  and the  corporate  existence  of each of its
Subsidiaries  (including the Issuer) and all rights  (charter and statutory) and
franchises of the Guarantor  and its  Subsidiaries,  provided that the Guarantor
shall not be required to preserve  the  corporate  existence  of any  Subsidiary
other than the  Issuer or any such right or  franchise  if the  Guarantor  shall
determine that the preservation thereof is no longer desirable in the conduct of
the business of the Guarantor and its Subsidiaries taken as a whole and that the
loss  thereof  would  not  have a  material  adverse  effect  on  the  business,
prospects,  assets or financial  condition of the Guarantor and its Subsidiaries
taken as a whole and would not have a material adverse effect on the payment and
performance  of  the  obligations  of the  Issuer  or the  Guarantor  under  the
Securities or the Guarantees, respectively, and this Indenture.

     3.10 Waiver of Stay,  Extension  or Usury Laws.  Each of the Issuer and the
Guarantor  covenants (to the extent that it may lawfully do so) that it will not
at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law or any usury law or other law
that  would  prohibit  or  forgive  it from  paying  all or any  portion  of the
principal of or interest on the  Securities  as  contemplated  herein,  wherever
enacted,  now or at any time  hereafter  in  force,  or  which  may  affect  the
covenants or the performance of this  Indenture;  and (to the extent that it may
lawfully do so) each of the Issuer and the Guarantor hereby expressly waives all
benefit or  advantage of any such law,  and  covenants  that it will not hinder,
delay or impede the  execution of any power herein  granted to the Trustee,  but
will suffer and permit the  execution  of every such power as though no such law
had been enacted.

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<PAGE>

                                   ARTICLE IV

                        SECURITYHOLDERS LISTS AND REPORTS
                    BY THE ISSUER, GUARANTOR AND THE TRUSTEE

     4.1 Issuer to Furnish  Trustee  Information  as to Names and  Addresses  of
Securityholders.  If and  so  long  as the  Trustee  shall  not be the  Security
registrar for the Securities of any series,  the Issuer and any other obligor on
the  Securities  will  furnish or cause to be furnished to the Trustee a list in
such form as the Trustee may  reasonably  require of the names and  addresses of
the Holders of the Registered  Securities of such series pursuant to Section 312
of the Trust  Indenture Act (a)  semi-annually  not more than 15 days after each
record  date for the  payment of  interest  on such  Registered  Securities,  as
hereinabove  specified,  as of such  record  date and on dates to be  determined
pursuant to Section 2.3 for non-interest  bearing Registered  Securities in each
year, and (b) at such other times as the Trustee may request in writing,  within
30 days after  receipt  by the Issuer of any such  request as of a date not more
than 15 days prior to the time such information is furnished.

     4.2 Reports by the Issuer and the Guarantor. (a) Each of the Issuer and the
Guarantor  covenants  to file  with  the  Trustee,  within  15 days  after it is
required to file the same with the Commission,  copies of the annual reports and
of the information,  documents and other reports that it may be required to file
with the Commission  pursuant to Section 13 or Section 15(d) of the Exchange Act
or pursuant to Section 314 of the Trust Indenture Act.

          (b) If the Issuer or the Guarantor is not subject to the  requirements
     of Section  13 or Section  15(d) of the  Exchange  Act,  the Issuer and the
     Guarantor  shall  furnish  to all  Holders  of  Rule  144A  Securities  and
     prospective purchasers of Rule 144A Securities designated by the Holders of
     Rule 144A Securities, promptly upon their request, the information required
     to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

     4.3 Reports by the Trustee.  Any Trustee's  report  required  under Section
313(a) of the Trust  Indenture Act shall be transmitted on or before December 15
in each year  beginning  December 15, 2002, as provided in Section 313(c) of the
Trust  Indenture Act, so long as any Securities are Outstanding  hereunder,  and
shall be dated as of a date convenient to the Trustee no more than 60 days prior
thereto. A copy of each report at the time of its mailing to Holders of a series
of Securities  shall be filed by the Issuer or the Guarantor with the Commission
and each securities exchange, if any, on which the Securities of such series are
listed. The Issuer shall notify the Trustee if and when any series of Securities
is listed on any stock exchange.

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<PAGE>

                                   ARTICLE V

                           REMEDIES OF THE TRUSTEE AND
                       SECURITYHOLDERS ON EVENT OF DEFAULT

     5.1 Event of Default Defined;  Acceleration of Maturity; Waiver of Default.
"Event of  Default"  with  respect to  Securities  of any series  wherever  used
herein,  means each one of the following events which shall have occurred and be
continuing  (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):

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

          (b) default in the payment of all or any part of the  principal on any
     of the  Securities of such series as and when the same shall become due and
     payable  either  at  maturity,  upon  any  redemption,  by  declaration  or
     otherwise; or

          (c) failure on the part of the Issuer or the Guarantor duly to observe
     or perform any other of their respective covenants or agreements in respect
     of the  Securities  of such series  (other than a covenant or  agreement in
     respect of the  Securities of such series a default in the  performance  or
     breach of which is elsewhere in this Section specifically dealt with) or in
     this  Indenture  contained  for a period of 90 days after the date on which
     written  notice  specifying  such  failure,  stating  that such notice is a
     "Notice  of  Default"  hereunder  and  demanding  that  the  Issuer  or the
     Guarantor remedy the same, shall have been given by registered or certified
     mail,  return  receipt  requested,  to the Issuer and the  Guarantor by the
     Trustee,  or to the Issuer and the Guarantor and the Trustee by the Holders
     of at least 25% in aggregate principal amount of the Outstanding Securities
     of all series affected thereby; or

          (d) a court having  jurisdiction  in the premises shall enter a decree
     or an order for  relief in respect  of the  Issuer or the  Guarantor  in an
     involuntary  case  under any  applicable  bankruptcy,  insolvency  or other
     similar  law  now  or  hereafter  in  effect,  or  appointing  a  receiver,
     liquidator,   assignee,   custodian,   trustee,  sequestrator  (or  similar
     official) of the Issuer or the Guarantor or for any substantial part of its
     property or ordering the winding up or liquidation of its affairs, and such
     decree or order  shall  remain  unstayed  and in effect  for a period of 60
     consecutive days; or

          (e) the Issuer or the Guarantor  shall commence a voluntary case under
     any applicable federal,  state or foreign  bankruptcy,  insolvency or other
     similar law now or hereafter in effect, or consent to the entry of an order
     for  relief in an  involuntary  case  under any such law or  consent to the
     appointment  or taking  possession  by a  receiver,  liquidator,  assignee,
     custodian, trustee, sequestrator (or similar official) of the Issuer or the
     Guarantor or for any substantial part of its property,  or make any general
     assignment for the benefit of creditors;

                                       37
<PAGE>

          (f) the Guarantor repudiates its obligations under the Guarantees,  or
     the  Guarantees  become  unenforceable  or invalid or are no longer in full
     force and effect, except as expressly contemplated herein; or

          (g) any other Event of Default provided in the supplemental  indenture
     under which such series of  Securities is issued or in the form of Security
     for such series.

     If an Event of Default  described in clauses  (a),  (b), (c) (f) or (g) (if
the  Event of  Default  under  clause  (c) or (g),  as the case may be,  is with
respect to less than all series of Securities  then  Outstanding)  occurs and is
continuing,  then,  and in each and every  such  case,  except for any series of
Securities  the  principal of which shall have  already  become due and payable,
either the  Trustee or the Holders of not less than 25% in  aggregate  principal
amount of the Securities of each such affected series then Outstanding hereunder
(voting as a single  class) by notice in writing to the Issuer and the Guarantor
(and to the  Trustee  if given  by  Securityholders),  may  declare  the  entire
principal (or, if the Securities of any such affected  series are Original Issue
Discount Securities, such portion of the principal amount as may be specified in
the terms of such series) of all Securities of all such affected series, and the
interest accrued thereon,  if any, to be due and payable  immediately,  and upon
any such declaration,  the same shall become immediately due and payable.  If an
Event of Default  described in clause (c) or (g) (if the Event of Default  under
clause  (c) or (g),  as the  case  may be,  is with  respect  to all  series  of
Securities  then  Outstanding),  occurs and is continuing,  then and in each and
every such case,  unless the principal of all the Securities  shall have already
become due and  payable,  either the Trustee or the Holders of not less than 25%
in aggregate  principal amount of all the Securities then outstanding  hereunder
(treated  as one  class),  by notice in writing to the Issuer and the  Guarantor
(and to the  Trustee  if given  by  Securityholders),  may  declare  the  entire
principal (or, if any securities  are Original Issue Discount  Securities,  such
portion of the  principal as may be  specified in the terms  thereof) of all the
Securities then Outstanding, and interest accrued thereon, if any, to be due and
payable  immediately,  and upon  any such  declaration  the  same  shall  become
immediately due and payable.  If an Event of Default specified in Section 5.1(d)
or (e) occurs,  the principal of and accrued  interest on the  Securities  shall
become and be immediately  due and payable  without any declaration or other act
on the part of the Trustee or any Securityholder.

     The foregoing provisions, however, are subject to the condition that if, at
any time after the principal  (or, if the Securities of such series are Original
Issue Discount Securities,  such portion of the principal as may be specified in
the terms thereof) of the Securities of any series (or of all the Securities, as
the case may be) shall have been so  declared  due and  payable,  and before any
judgment or decree for the payment of the moneys due shall have been obtained or
entered as hereinafter provided,  the Issuer or the Guarantor shall pay or shall
deposit with the Trustee a sum  sufficient  to pay all matured  installments  of
interest upon all the  Securities of such series (or of all the  Securities,  as
the case may be) and the principal of any and all Securities of each such series
(or of all the  Securities,  as the case may be) which  shall  have  become  due
otherwise than by acceleration (with interest upon such principal and on overdue
installments  of interest,  at the same rate as the rate of interest or Yield to
Maturity (in the case of Original  Issue Discount  Securities)  specified in the
Securities of each such series (or at the respective rates of interest or Yields
to  Maturity  of all the  Securities,  as the  case  may be) to the date of such
payment or deposit) and such amount as shall be sufficient  to cover  reasonable
compensation to the Trustee and each predecessor Trustee, its agents,  attorneys
and counsel, and all other expenses and liabilities  incurred,  and all advances
made,  by the  Trustee  and each  predecessor  Trustee  except  as a  result  of
negligence  or bad  faith,  and if any and  all  Events  of  Default  under  the
Indenture, other than the non-payment of the principal of Securities which shall

                                       38
<PAGE>

have  become due by  acceleration,  shall have been cured,  waived or  otherwise
remedied  as  provided  herein,  then and in every  such case the  Holders  of a
majority  in  aggregate  principal  amount  of all the  Securities  of each such
series,  or of all the Securities,  in each case voting as a single class,  then
Outstanding,  by  written  notice to the  Issuer  and the  Guarantor  and to the
Trustee,  may waive all  defaults  with  respect  to each such  series  (or with
respect to all the  Securities,  as the case may be) and  rescind and annul such
declaration and its consequences, but no such waiver or rescission and annulment
shall extend to or shall affect any subsequent default or shall impair any right
consequent thereon.

     For all purposes under this Indenture, if a portion of the principal of any
Original Issue Discount  Securities shall have been accelerated and declared due
and  payable  pursuant  to the  provisions  hereof,  then,  from and after  such
declaration,  unless such  declaration  has been  rescinded  and  annulled,  the
principal amount of such Original Issue Discount Securities shall be deemed, for
all purposes hereunder,  to be such portion of the principal thereof as shall be
due and payable as a result of such acceleration, and payment of such portion of
the  principal  thereof  as  shall  be due  and  payable  as a  result  of  such
acceleration,  together  with  interest,  if any,  thereon and all other amounts
owing  thereunder,  shall  constitute  payment  in full of such  Original  Issue
Discount Securities.

     5.2  Collection of  Indebtedness  by Trustee;  Trustee May Prove Debt.  The
Issuer and  Guarantor  covenant  that (a) in case  default  shall be made in the
payment of any  installment  of interest on any of the  Securities of any series
when such  interest  shall have become due and payable,  and such default  shall
have  continued  for a period of 30 days or (b) in case default shall be made in
the payment of all or any part of the principal of any of the  Securities of any
series when the same shall have become due and payable, whether upon maturity of
the  Securities  of such  series or upon any  redemption  or by  declaration  or
otherwise, then upon demand of the Trustee, the Issuer or the Guarantor will pay
to the Trustee for the benefit of the Holders of the  Securities  of such series
the whole  amount that then shall have become due and payable on all  Securities
of such series, and such Coupons, for principal or interest,  as the case may be
(with  interest to the date of such  payment upon the overdue  principal  and on
overdue  installments  of  interest  at the same rate as the rate of interest or
Yield to Maturity (in the case of Original Issue Discount Securities)  specified
in the Securities of such series); and in addition thereto,  such further amount
as shall be sufficient to cover the costs and expenses of collection,  including
reasonable  compensation  to the Trustee  and each  predecessor  Trustee,  their
respective  agents,  attorneys  and counsel,  and any  expenses and  liabilities
incurred,  and all advances  made, by the Trustee and each  predecessor  Trustee
except as a result of its negligence or bad faith.

     Until such demand is made by the Trustee,  the Issuer or the  Guarantor may
pay the  principal  of and  interest  on the  Securities  of any  series  to the
Holders,  whether or not the principal of and interest on the Securities of such
series be overdue.

                                       39
<PAGE>

     In case the  Issuer  or the  Guarantor  shall  fail  forthwith  to pay such
amounts  upon such  demand,  the  Trustee,  in its own name and as trustee of an
express  trust,  shall be entitled  and  empowered  to  institute  any action or
proceedings  at law or in  equity  for  the  collection  of the  sums so due and
unpaid,  and may prosecute any such action or  proceedings  to judgment or final
decree,  and may enforce any such  judgment or final decree  against the Issuer,
the  Guarantor or other  obligor upon the  Securities  and collect in the manner
provided  by law out of the  property  of the  Issuer,  the  Guarantor  or other
obligor upon the Securities, wherever situated the moneys adjudged or decreed to
be payable.

     In case there shall be pending  proceedings  relative  to the  Issuer,  the
Guarantor or any other obligor upon the Securities  under Title 11 of the United
States Code or any other  applicable  Federal or state  bankruptcy,  insolvency,
reorganization  or  other  similar  law,  or in  case  a  receiver,  liquidator,
assignee,  custodian,  or trustee,  sequestrator or similar  official shall have
been appointed for or taken possession of the Issuer or the Guarantor, or its or
their property,  or such other obligor or its property,  or in case of any other
comparable judicial  proceedings  relative to the Issuer, the Guarantor or other
obligor upon the Securities,  or to the creditors or property of the Issuer, the
Guarantor  or such other  obligor,  the  Trustee,  irrespective  of whether  the
principal of the Securities  shall then be due and payable as therein  expressed
or by  declaration  or otherwise and  irrespective  of whether the Trustee shall
have made any  demand  pursuant  to the  provisions  of this  Section,  shall be
entitled and empowered, by intervention in such proceedings or otherwise:

          (a) to file and  prove a claim  or  claims  for the  whole  amount  of
     principal  and interest  (or, if the  Securities of any series are Original
     Issue Discount  Securities,  such portion of the principal amount as may be
     specified in the terms of such  series)  owing and unpaid in respect of the
     Securities of any 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 reasonable  compensation  to the Trustee and each
     predecessor  Trustee,  and their respective agents,  attorneys and counsel,
     and for  reimbursement  of all expenses and liabilities  incurred,  and all
     advances  made, by the Trustee and each  predecessor  Trustee,  except as a
     result of gross negligence or bad faith) and of the Securityholders allowed
     in any judicial  proceedings relative to the Issuer, the Guarantor or other
     obligor upon the Securities, or to the creditors or property of the Issuer,
     the Guarantor or such other obligor,

          (b) unless  prohibited by applicable law and  regulations,  to vote on
     behalf of the Holders of the  Securities of any series in any election of a
     trustee or a standby trustee in arrangement, reorganization, liquidation or
     other  bankruptcy or insolvency  proceedings or person  performing  similar
     functions in comparable proceedings, and

          (c) to collect  and receive  any moneys or other  property  payable or
     deliverable on any such claims, and to distribute all amounts received with
     respect to the claims of the  Securityholders  and of the  Trustee on their
     behalf;  and any  trustee,  receiver,  or  liquidator,  custodian  or other
     similar  official is hereby  authorized by each of the  Securityholders  to
     make  payments to the  Trustee,  and,  in the event that the Trustee  shall
     consent to the making of payments directly to the  Securityholders,  to pay
     to the Trustee  such  amounts as shall be  sufficient  to cover  reasonable
     compensation to the Trustee,  each predecessor Trustee and their respective

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<PAGE>

     agents,  attorneys  and counsel,  and all other  expenses  and  liabilities
     incurred,  and all  advances  made,  by the  Trustee  and each  predecessor
     Trustee except as a result of gross negligence or bad faith.

     Nothing  herein  contained  shall be deemed to  authorize  the  Trustee  to
authorize  or  consent  to or vote  for or  accept  or adopt  on  behalf  of any
Securityholder   any  plan  of   reorganization,   arrangement,   adjustment  or
composition  affecting the  Securities of any series or the rights of any Holder
thereof,  or to  authorize  the  Trustee  to vote in respect of the claim of any
Securityholder  in any such  proceeding  except,  as aforesaid,  to vote for the
election of a trustee in bankruptcy or similar person.

     All rights of action and of asserting claims under this Indenture, or under
any of the Securities of any series or Coupons  appertaining to such Securities,
may be enforced by the Trustee  without the  possession of any of the Securities
of such series or Coupons  appertaining  to such  Securities  or the  production
thereof in any trial or other proceedings  relative thereto, and any such action
or  proceedings  instituted  by the Trustee  shall be brought in its own name as
trustee  of an express  trust,  and any  recovery  of  judgment,  subject to the
payment of the expenses,  disbursements  and  compensation of the Trustee,  each
predecessor Trustee and their respective agents and attorneys,  shall be for the
ratable benefit of the Holders of the Securities or Coupons appertaining to such
Securities in respect of which such action was taken.

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

     5.3 Application of Proceeds.  Any moneys  collected by the Trustee pursuant
to this Article in respect 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  moneys on account of  principal  or  interest,  upon  presentation  of the
several  Securities and Coupons  appertaining  to such  Securities in respect of
which monies have been collected and stamping (or otherwise  noting) thereon the
payment,  or issuing  Securities of such series in reduced  principal amounts in
exchange for the presented  Securities of like series if only partially paid, or
upon surrender thereof if fully paid:

          FIRST: To the payment of costs and expenses  applicable to such series
     in  respect  of which  monies  have been  collected,  including  reasonable
     compensation  to  the  Trustee  and  each  predecessor  Trustee  and  their
     respective  agents  and  attorneys  and of  all  expenses  and  liabilities
     incurred,  and all  advances  made,  by the  Trustee  and each  predecessor
     Trustee and their  respective  agents and  attorneys  except as a result of
     gross negligence or bad faith;

          SECOND:  In case the  principal  of the  Securities  of such series in
     respect of which  moneys have been  collected  shall not have become and be
     then due and payable,  to the payment of interest on the Securities of such
     series in default in the order of the maturity of the  installments of such
     interest  (with  interest,  to the  extent  that  such  interest  has  been
     collected by the Trustee,  upon the overdue installments of interest at the
     same  rate as the rate of  interest  or Yield to  Maturity  (in the case of

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<PAGE>

     Original  Issue Discount  Securities)  specified in such  Securities,  such
     payments  to be made  ratably  to the  Persons  entitled  thereto,  without
     discrimination or preference);

          THIRD:  In case the  principal  of the  Securities  of such  series in
     respect of which moneys have been collected  shall have become and shall be
     then due and  payable,  to the  payment of the whole  amount then owing and
     unpaid upon all the  Securities  of such series for principal and interest,
     with  interest  upon the  overdue  principal,  and (to the extent that such
     interest has been  collected by the Trustee) upon overdue  installments  of
     interest at the same rate as the rate of interest or Yield to Maturity  (in
     the case of Original Issue Discount Securities) specified in the Securities
     of such  series;  and in case such moneys shall be  insufficient  to pay in
     full the whole amount so due and unpaid upon the Securities of such series,
     then to the payment of such principal and interest,  without  preference or
     priority of principal over interest,  or of interest over principal,  or of
     any installment of interest over any other  installment of interest,  or of
     any Security of such series over any other Security of such series, ratably
     to the aggregate of such principal and accrued and unpaid interest; and

          FOURTH: To the payment of the remainder,  if any, to the Issuer or any
     other Person lawfully entitled thereto.

     5.4 Suits for  Enforcement.  In case an Event of Default has occurred,  has
not been waived and is continuing,  the Trustee may in its discretion proceed to
protect  and  enforce  the  rights  vested  in  it by  this  Indenture  by  such
appropriate  judicial  proceedings  as the Trustee shall deem most  effectual to
protect  and  enforce  any of such  rights,  either  at law or in  equity  or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant or
agreement  contained  in this  Indenture  or in aid of the exercise of any power
granted in this  Indenture  or to enforce  any other  legal or  equitable  right
vested in the Trustee by this Indenture or by law.

     5.5  Restoration  of  Rights on  Abandonment  of  Proceedings.  In case the
Trustee or any  Securityholder  shall have  proceeded to enforce any right under
this Indenture and such  proceedings  shall have been  discontinued or abandoned
for any reason, or shall have been finally  determined  adversely to the Trustee
or such Securityholder, then and in every such case subject to any determination
in  such  proceedings,  the  Issuer,  the  Guarantor  and  the  Trustee  or such
Securityholder  shall be restored  respectively  to their former  positions  and
rights  hereunder,  and all  rights,  remedies  and  powers of the  Issuer,  the
Guarantor,  the Trustee and the Securityholders shall continue as though no such
proceedings had been taken.

     5.6 Limitations on Suits by  Securityholders.  No Holder of any Security of
any series or of any Coupon appertaining  thereto shall have any right by virtue
or by availing of any  provision of this  Indenture  to institute  any action or
proceeding at law or in equity or in  bankruptcy  or otherwise  upon or under or
with  respect  to  this  Indenture,  or  for  the  appointment  of  a  receiver,
liquidator, assignee, custodian, trustee, sequestrator or other similar official
or for any other remedy hereunder,  unless (i) such Holder previously shall have
given to the Trustee written notice of default and of the  continuance  thereof,
as  hereinbefore  provided;  (ii) the Holders of not less than 25% in  aggregate
principal amount of the Securities of such series then Outstanding (treated as a
single class) shall have made written request upon the Trustee to institute such
action or  proceedings  in its own name as  trustee  hereunder  and  shall  have
offered to the Trustee such  reasonable  indemnity as it may require against the

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<PAGE>

costs,  expenses and  liabilities to be incurred  therein or thereby;  (iii) the
Trustee  for 60 days after its  receipt  of such  notice,  request  and offer of
indemnity shall have failed to institute any such action or proceeding; and (iv)
no direction inconsistent with such written request shall have been given to the
Trustee  pursuant to Section 5.9; it being  understood  and intended,  and being
expressly  covenanted  by the taker and Holder of every  Security or Coupon with
every other  taker and Holder and the  Trustee,  that no one or more  Holders of
Securities of any series or Coupons  appertaining to such Securities  shall have
any right in any manner  whatever by virtue or by availing of any  provision  of
this  Indenture  to affect,  disturb or  prejudice  the rights of any other such
Holder of Securities or Coupons appertaining to such Securities, or to obtain or
seek to  obtain  priority  over or  preference  to any other  such  Holder or to
enforce any right under this Indenture, except in the manner herein provided and
for the equal,  ratable and common  benefit of all Holders of  Securities of any
applicable  series  and  Coupons  appertaining  to  such  Securities.   For  the
protection and  enforcement  of the  provisions of this Section,  each and every
Securityholder  and the Trustee shall be entitled to such relief as can be given
either at law or in equity.

     5.7  Unconditional  Right of  Securityholder  to Institute  Certain  Suits.
Notwithstanding  any other  provision in this Indenture and any provision of any
Security,  the right of any Holder of any Security or Coupon to receive  payment
of the  principal  of and  interest  on such  Security or coupon on or after the
respective due dates expressed in such Security or Coupon,  or to institute suit
for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder.

     5.8  Powers  and  Remedies  Cumulative;  Delay or  Omission  Not  Waiver of
Default.  Except as provided in Section 5.6, no right or remedy herein conferred
upon or reserved to the  trustee or to the Holders of  Securities  or Coupons is
intended  to be  exclusive  of any other  right or remedy,  and every  right and
remedy shall,  to the extent  permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law
or in equity or  otherwise.  The  assertion or employment of any right or remedy
hereunder,  or  otherwise,   shall  not  prevent  the  concurrent  assertion  or
employment of any other appropriate right or remedy.

     No delay or  omission  of the  Trustee  or of any Holder of  Securities  or
Coupons  to  exercise  any right or power  accruing  upon any  Event of  Default
occurring and  continuing  as aforesaid  shall impair any such right or power or
shall  be  construed  to  be a  waiver  of  any  such  Event  of  Default  or an
acquiescence  therein; and, subject to Section 5.6, every power and remedy given
by this  Indenture or by law to the Trustee or to the Holders of  Securities  or
Coupons  may be  exercised  from  time to time,  and as often as shall be deemed
expedient, by the Trustee or by the Holders of Securities or Coupons.

     5.9  Control by  Holders  of  Securities.  The  Holders  of a  majority  in
aggregate  principal  amount of the Securities of each series affected (with all
such series  voting as a single  class) at the time  Outstanding  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 by this  Indenture;
provided that such direction  shall not be otherwise than in accordance with law
and the provisions of this  Indenture and provided  further that (subject to the
provisions of Section 6.1) the Trustee shall have the right to decline to follow

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<PAGE>

any such  direction if the Trustee,  being advised by counsel,  shall  determine
that the action or  proceeding  so directed  may not lawfully be taken or if the
Trustee in good faith by its board of directors,  the executive committee,  or a
trust  committee  of  directors  or  Responsible  Officers of the Trustee  shall
determine  that the action or  proceedings so directed would involve the Trustee
in personal  liability or if the Trustee in good faith shall so  determine  that
the actions or forbearances  specified in or pursuant to such direction would be
unduly  prejudicial  to the interests of Holders of the Securities of all series
so affected  not joining in the giving of said  direction,  it being  understood
that  (subject  to Section  6.1) the  Trustee  shall  have no duty to  ascertain
whether or not such  actions or  forbearances  are  unduly  prejudicial  to such
Holders.

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

     5.10 Waiver of Past Defaults.  Prior to the acceleration of the maturity of
any  Securities  as  provided  in Section  5.1,  the  Holders  of a majority  in
aggregate  principal  amount  of the  Securities  of  all  series  at  the  time
Outstanding  with  respect to which a default or an Event of Default  shall have
occurred  and be  continuing  (voting  as a single  class)  may on behalf of the
Holders  of all such  Securities  waive  any past  default  or Event of  Default
described  in  Section  5.1 and its  consequences,  except a default  (a) in the
payment of  principal  or  interest  on any  Security  of such  series or (b) in
respect of a covenant or  provision  hereof  which cannot be modified or amended
without the consent of the Holder of each Security affected.  In the case of any
such waiver, the Issuer, the Guarantor,  the Trustee and the Holders of all such
Securities  shall be restored to their former  positions  and rights  hereunder,
respectively; but no such waiver shall extend to any subsequent or other default
or impair any right consequent thereon.

     Upon any such waiver,  such  default  shall cease to exist and be deemed to
have been  cured and not to have  occurred,  and any  Event of  Default  arising
therefrom shall be deemed to have been cured, and not to have occurred for every
purpose of this Indenture;  but no such waiver shall extend to any subsequent or
other default or Event of Default or impair any right consequent thereon.

     5.11  Trustee  to Give  Notice of  Default,  But May  Withhold  in  Certain
Circumstances.  The  Trustee  shall,  within 90 days after the  occurrence  of a
default  with  respect  to the  Securities  of any  series,  give  notice of all
defaults  with  respect  to  that  series  known  to  the  Trustee  (i)  if  any
Unregistered  Securities  of that  series are then  Outstanding,  to the Holders
thereof, by publication at least once in an Authorized  Newspaper in the Borough
of Manhattan,  The City of New York and at least once in an Authorized Newspaper
in London  (and,  if  required by Section  3.6,  at least once in an  Authorized
Newspaper in  Luxembourg)  and (ii) to all Holders of  Registered  Securities of
such series as the names and addresses of such Holders  appear upon the registry
books of the Issuer,  and to other  Holders of Securities of such series as have
filed their names and addresses with the Trustee within two years  preceding the
giving of such notice,  unless in each case such defaults  shall have been cured
before the mailing or  publication  of such notice (the term  "defaults" for the
purpose of this  Section  being  hereby  defined to mean any event or  condition
which is,  or with  notice or lapse of time or both  would  become,  an Event of
Default);  provided  that,  except in the case of default in the  payment of the

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<PAGE>

principal  of or interest on any of the  Securities  of such  series,  or in the
payment of any sinking fund  installment  on 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 or trustees and/or
Responsible   Officers  of  the  Trustee  in  good  faith  determines  that  the
withholding  of such notice is in the best interests of the  Securityholders  of
such Series.

     5.12  Right of Court to Require  Filing of  Undertaking  to Pay Costs.  All
parties to this  Indenture  agree,  and each Holder of any Security or Coupon 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, suffered
or omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking  to pay the  costs of such  suit,  and that  such  court  may in its
discretion assess reasonable costs, including reasonable attorneys fees, against
any party litigant in such suit,  having due regard to the merits and good faith
of the claims or defenses  made by such party  litigant;  but the  provisions of
this Section shall not apply to any suit instituted by the Trustee,  to any suit
instituted  by any  Securityholder  or group of  Securityholders  of any  series
holding in the  aggregate  more than 10% in  aggregate  principal  amount of the
Securities  of such series,  or, in the case of any suit  relating to or arising
under  clause (c) or (f) of Section 5.1 (if the suit  relates to  Securities  of
more than one but less than all series),  10% in aggregate  principal  amount of
Securities then  Outstanding and affected  thereby,  or, in the case of any suit
relating to or arising  under clause (c) or (f) (if the suit under clause (c) or
(f) relates to all the  Securities  then  outstanding)  of Section  5.1,  10% in
aggregate  principal amount of all Securities then  Outstanding,  or to any suit
instituted  by any  Securityholder  for the  enforcement  of the  payment of the
principal of or interest on, any Security on or after the due date  expressed in
such Security or any date fixed for redemption.

                                   ARTICLE VI

                             CONCERNING THE TRUSTEE

     6.1 Duties and  Responsibilities  of the  Trustee;  Prior to Default.  With
respect  to the  Holders  of any  series of  Securities  issued  hereunder,  the
Trustee,  prior to the  occurrence  of an Event of Default  with  respect to the
Securities  of such  series  and after the  curing or  waiving  of all Events of
Default  which may have  occurred  with  respect to such series,  undertakes  to
perform such duties and only such duties as are  specifically  set forth in this
Indenture.  In case an Event of  Default  with  respect to the  Securities  of a
series has  occurred  (which has not been cured or  waived)  the  Trustee  shall
exercise with respect to such series of Securities such of the rights and powers
vested  in it by this  Indenture,  and use the same  degree of care and skill in
their exercise as a prudent man would exercise or use under the circumstances in
the conduct of his own affairs.

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

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<PAGE>

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

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

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

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

          (c) the Trustee  shall not be liable with  respect to any action taken
     or omitted to be taken by it in good faith in accordance with the direction
     of the Holders  pursuant to Section  5.9  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.

     None of the  provisions  contained  in this  Indenture  shall  require  the
Trustee to expend or risk its own funds or otherwise  incur  personal  financial
liability in the  performance  of any of its duties or in the exercise of any of
its rights or powers,  if there shall be reasonable  grounds for believing  that
the repayment of such funds or adequate  indemnity against such liability is not
reasonably assured to it.

     The  provisions  of this Section 6.1 are in  furtherance  of and subject to
Section 315 of the Trust Indenture Act.

     6.2 Certain  Rights of the Trustee.  In  furtherance  of and subject to the
Trust Indenture Act, and subject to Section 6.1:

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

                                       46
<PAGE>

          (b) any request,  direction,  order or demand of the Issuer  mentioned
     herein  shall be  sufficiently  evidenced by an  Officers'  Certificate  or
     Issuer  Order  (unless  other   evidence  in  respect   thereof  be  herein
     specifically  prescribed);  any resolution of the Board of Directors of the
     Issuer may be evidenced  to the Trustee by a copy thereof  certified by the
     Secretary or an Assistant  Secretary of the Issuer;  and any  resolution of
     the Board of Directors of the  Guarantor may be evidenced to the Trustee by
     a copy thereof certified by the Secretary or an Assistant  Secretary of the
     Guarantor;

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

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

          (e) the Trustee  shall be under no  obligation  to exercise any of the
     trusts or powers  vested in it by this  Indenture at the request,  order or
     direction of any of the Securityholders  pursuant to the provisions of this
     Indenture,  unless such  Securityholders  shall have offered to the Trustee
     reasonable   security  or  indemnity   against  the  costs,   expenses  and
     liabilities which might be incurred therein or thereby;

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

          (g) prior to the occurrence of an Event of Default hereunder and after
     the curing or waiving of all Events of Default,  the  Trustee  shall not be
     bound to make any  investigation  into the facts or  matters  stated in any
     resolution,  certificate,  statement,  instrument, opinion, report, notice,
     request,  consent,  order,  approval,  appraisal,  bond,  debenture,  note,
     coupon, security, or other paper or document unless requested in writing so
     to do by the  Holders of not less than a majority  in  aggregate  principal
     amount of the Securities of all series affected then Outstanding;  provided
     that, if the payment within a reasonable  time to the Trustee of the costs,
     expenses or  liabilities  likely to be incurred by it in the making of such
     investigation is, in the opinion of the Trustee,  not reasonably assured to
     the Trustee by the security  afforded to it by the terms of this Indenture,
     the Trustee may  require  reasonable  indemnity  against  such  expenses or
     liabilities as a condition of proceeding;  the reasonable expenses of every
     such  investigation  shall be paid by the Issuer or, if paid by the Trustee
     or any predecessor Trustee, shall be repaid by the Issuer upon demand; and

          (h) the Trustee may execute any of the trusts or powers  hereunder  or
     perform any duties  hereunder  either  directly or by or through  agents or
     attorneys  not  regularly  in its  employ  and  the  Trustee  shall  not be
     responsible  for any misconduct or negligence on the part of any such agent
     or attorney appointed with due care by it hereunder.

                                       47
<PAGE>

     6.3 Trustee Not  Responsible  for  Recitals,  Disposition  of Securities or
Application  of  Proceeds  Thereof.  The  recitals  contained  herein and in the
Securities, except the Trustee's certificates of authentication,  shall be taken
as the  statements  of the  Issuer and the  Guarantor,  as  applicable,  and the
Trustee assumes no  responsibility  for the correctness of the same. The Trustee
makes no  representation  as to the validity or sufficiency of this Indenture or
of the Securities or Coupons.  The Trustee shall not be accountable  for the use
or  application  by the  Issuer  of any of  the  Securities  or of the  proceeds
thereof.

     6.4 Trustee and Agents May Hold  Securities or Coupons,  Collections,  etc.
The Trustee or any agent of the Issuer or the Trustee,  in its individual or any
other  capacity,  may become the owner or pledgee of  Securities or Coupons with
the same  rights it would have if it were not the  Trustee or such agent and may
otherwise deal with the Issuer and receive, collect, hold and retain collections
from the Issuer with the same rights it would have if it were not the Trustee or
such agent.

     6.5 Moneys  Held by  Trustee.  Subject to the  provisions  of Section  10.4
hereof,  all moneys  received  by the  Trustee  shall,  until used or applied as
herein provided, be held in trust for the purposes for which they were received,
but need not be  segregated  from other funds  except to the extent  required by
mandatory  provisions of law.  Such moneys shall be invested in accordance  with
the  Issuer's  written  instructions.  Neither  the Trustee nor any agent of the
Issuer or the Trustee  shall be under any  liability  for interest on any moneys
received by it hereunder.

     6.6  Compensation and  Indemnification  of Trustee and Its Prior Claim. The
Issuer  covenants  and agrees to pay to the Trustee  from time to time,  and the
Trustee shall be entitled to, such compensation as shall be agreed to in writing
between the Issuer and the Trustee  (which shall not be limited by any provision
of law in regard to the  compensation  of a trustee of an express trust) and the
Issuer covenants and agrees to pay or reimburse the Trustee and each predecessor
Trustee upon its request for all reasonable expenses, disbursements and advances
incurred or made by or on behalf of it in accordance  with any of the provisions
of this Indenture  (including the reasonable  compensation  and the expenses and
disbursements  of its counsel and of all agents and other  persons not regularly
in its employ)  except any such  expense,  disbursement  or advance as may arise
from its  negligence  or bad faith.  The Issuer also  covenants to indemnify the
Trustee and each predecessor  Trustee for, and to hold it harmless against,  any
and all loss, liability or expense, including taxes (other than taxes based upon
or measured by the income of the Trustee)  incurred  without  negligence  or bad
faith on its  part,  arising  out of or in  connection  with the  acceptance  or
administration  of  this  Indenture  or the  trusts  hereunder  and  its  duties
hereunder,  including  the costs and  expenses of  defending  itself  against or
investigating  any claim of liability in the premises.  The  obligations  of the
Issuer  under this  Section to  compensate  and  indemnify  the Trustee and each
predecessor  Trustee and to pay or  reimburse  the Trustee and each  predecessor
Trustee for expenses,  disbursements  and advances shall  constitute  additional
indebtedness  hereunder and shall survive the satisfaction and discharge of this
Indenture.  Such additional  indebtedness shall be a senior claim to that of the
Securities upon all property and funds held or collected by the Trustee as such,
except  funds  held in  trust  for the  benefit  of the  Holders  of  particular
Securities or Coupons, and the Securities are hereby subordinated to such senior
claim.

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<PAGE>

     When the Trustee incurs expenses or renders  services in connection with an
Event of Default  specified in Section  5.1(d) or Section  5.1(e),  the expenses
(including  the  reasonable  charges  and  expenses  of  its  counsel)  and  the
compensation   for  the  services  are  intended  to   constitute   expenses  of
administration  under any  applicable  Federal,  state,  provincial  or  foreign
bankruptcy, insolvency or other similar law.

     The Trustee is subject to and shall comply with the  provisions  of Section
311 of the Trust Indenture Act.

     6.7 Right of  Trustee to Rely on  Officers'  Certificate,  etc.  Subject to
Sections  6.1 and 6.2,  whenever  in the  administration  of the  trusts of this
Indenture  the Trustee  shall deem it necessary  or  desirable  that a matter be
proved or  established  prior to taking or  suffering  or  omitting  any  action
hereunder,  such matter  (unless  other  evidence  in respect  thereof be herein
specifically  prescribed)  may, in the absence of negligence or bad faith on the
part of the Trustee,  be deemed to be conclusively  proved and established by an
Officers'  Certificate  delivered to the Trustee,  and such certificate,  in the
absence of  negligence  or bad faith on the part of the  Trustee,  shall be full
warrant to the Trustee for any action taken, suffered or omitted by it under the
provisions of this Indenture upon the faith thereof.

     6.8  Indentures  Not  Creating  Potential  Conflicting  Interests  for  the
Trustee.  As of the date hereof,  the Issuer has no outstanding  debt securities
issued pursuant to an indenture of which the Trustee is the trustee.

     6.9 Persons  Eligible  for  Appointment  as  Trustee.  The Trustee for each
series of Securities hereunder shall at all times be a corporation organized and
doing business under the laws of the United States of America or of any State or
the  District  of  Columbia  having a combined  capital  and surplus of at least
$50,000,000, and which is authorized under such laws to exercise corporate trust
powers  and is  subject to  supervision  or  examination  by  Federal,  State or
District of Columbia authority.  Such corporation shall have its principal place
of business or an agency in the  Borough of  Manhattan,  The City of New York if
there is such a corporation in such location  willing to act upon reasonable and
customary  terms  and  conditions.  If such  corporation  publishes  reports  of
condition  at least  annually,  pursuant  to law or to the  requirements  of the
aforesaid  supervising  or  examining  authority,  then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its  combined  capital and surplus as set forth in its most recent  report of
condition  so  published.  In case at any time  the  Trustee  shall  cease to be
eligible in accordance  with the  provisions of this Section,  the Trustee shall
resign immediately in the manner and with the effect specified in Section 6.10.

     The  provisions  of this Section 6.9 are in  furtherance  of and subject to
Section 310(a) of the Trust Indenture Act.

     6.10 Resignation and Removal; Appointment of Successor Trustee.

          (a) The Trustee, or any trustee or trustees hereafter  appointed,  may
     at any time resign with respect to one or more or all series of  Securities
     by giving written notice of resignation to the Issuer and the Guarantor and
     (i)  if  any  Unregistered   Securities  of  a  series  affected  are  then
     Outstanding,  by giving notice of such  resignation to the Holders thereof,
     by publication  at least once in an Authorized  Newspaper in the Borough of
     Manhattan,  The  City of New  York,  and at  least  once  in an  Authorized

                                       49
<PAGE>

     Newspaper in London  (and,  if required by Section 3.6, at least once in an
     Authorized Newspaper in Luxembourg), (ii) if any Unregistered Securities of
     a  series  affected  are  then  Outstanding,  by  mailing  notice  of  such
     resignation to the Holders thereof who have filed their names and addresses
     with the Trustee  within two years  preceding  the giving of such notice at
     such  addresses  as were so  furnished  to the Trustee and (iii) by mailing
     notice of such  resignation to the Holders of then  Outstanding  Registered
     Securities of each series  affected at their addresses as they shall appear
     on the registry  books.  Upon  receiving  such notice of  resignation,  the
     Issuer and the  Guarantor  shall  promptly  appoint a successor  trustee or
     trustees  with respect to the  applicable  series by written  instrument in
     duplicate,  executed by  authority  of the Board of Directors of the Issuer
     and the Board of Directors of the Guarantor,  one copy of which  instrument
     shall be delivered to the  resigning  Trustee and one copy to the successor
     trustee or trustees (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 successor  trustee
     with respect to the Securities of a particular  series);  provided that, if
     the Issuer and the Guarantor  appoint  different  successor  trustees,  the
     Guarantor's  appointment shall prevail.  If no successor trustee shall have
     been so appointed with respect to any series and have accepted  appointment
     within 30 days  after  the  mailing  of such  notice  of  resignation,  the
     resigning trustee may petition any court of competent  jurisdiction for the
     appointment of a successor  trustee,  or any  Securityholder who has been a
     bona fide Holder of a Security or Securities of the  applicable  series for
     at least six months may,  subject to the  provisions  of Section  5.12,  on
     behalf of himself  and all others  similarly  situated,  petition  any such
     court for the appointment of a successor trustee. Such court may thereupon,
     after such notice,  if any, as it may deem proper and prescribe,  appoint a
     successor trustee.

          (b) In case at any time any of the following shall occur:

               (i) the  Trustee  shall  fail to comply  with the  provisions  of
          Section  310(b) of the Trust  Indenture Act with respect to any series
          of Securities  after written request  therefor by the Issuer or by any
          Securityholder  who has  been a bona  fide  Holder  of a  Security  or
          Securities of such series for at least six months; or

               (ii) the Trustee  shall cease to be eligible in  accordance  with
          the  provisions  of  Section  6.9  and  Section  310(a)  of the  Trust
          Indenture Act and shall fail to resign after written request  therefor
          by the Issuer, the Guarantor or by any Securityholder; or

               (iii) the Trustee  shall become  incapable of acting with respect
          to any  series of  Securities,  or shall be  adjudged  a  bankrupt  or
          insolvent,  or a  receiver  or  liquidator  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;

                                       50
<PAGE>

then, in any such case,  (A) the Issuer and the Guarantor may remove the Trustee
with  respect to the  applicable  series of  Securities  and appoint a successor
trustee for such series by written instrument,  in duplicate,  executed by order
of the  Board of  Directors  of the  Issuer  and the Board of  Directors  of the
Guarantor,  one copy of which  instrument  shall be  delivered to the Trustee so
removed and one copy to the successor  trustee,  (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
successor  trustee  with  respect to the  Securities  of a  particular  series);
provided  that,  if the Issuer and the  Guarantor  appoint  different  successor
trustees,  the  Guarantor's  appointment  shall  prevail  or (B)  subject to the
provisions of Section 315(e) of the Trust Indenture Act, any  Securityholder who
has been a bona fide  Holder of a Security or  Securities  of such series for at
least six  months may on behalf of himself  and all others  similarly  situated,
petition any court of competent  jurisdiction for the removal of the Trustee and
the appointment of a successor  trustee with respect to such series.  Such court
may thereupon,  after such notice,  if any, as it may deem proper and prescribe,
remove the Trustee and appoint a successor trustee.

          (c) The Holders of a majority  in  aggregate  principal  amount of the
     Securities  of each series at the time  outstanding  may at any time remove
     the  Trustee  with  respect to  Securities  of such  series  and  appoint a
     successor  trustee  with  respect  to the  Securities  of  such  series  by
     delivering to the Trustee so removed, to the successor trustee so appointed
     and to the Issuer and the  Guarantor  the evidence  provided for in Section
     7.1 of the action in that regard taken by the Securityholders.

          (d) Any  resignation  or removal of the  Trustee  with  respect to any
     series and any  appointment  of a successor  trustee  with  respect to such
     series  pursuant to any of the provisions of this Section 6.10 shall become
     effective  upon  acceptance  of  appointment  by the  successor  trustee as
     provided in Section 6.11.

          (e) The Issuer shall give notice of each removal of the Trustee (i) if
     any Unregistered  Securities of a series affected are then Outstanding,  to
     the  Holders  thereof,  by  publication  of such notice at least once in an
     Authorized  Newspaper  in The  City of New  York  and at  least  once in an
     Authorized  Newspaper in London (and,  if required by Section 3.6, at least
     once in an Authorized  Newspaper in Luxembourg),  (ii) if any  Unregistered
     Securities  of a series  affected  are  then  Outstanding,  to the  Holders
     thereof who have filed their names and  addresses  with the Trustee  within
     two years  preceding  the giving of such notice,  by mailing such notice to
     such Holders at such addresses as were so furnished to the Trustee (and the
     Trustee  shall  make such  information  available  to the  Issuer  for such
     purpose) and (iii) to the Holders of  Registered  Securities of each series
     affected, by mailing such notice to such Holders at their addresses as they
     shall appear on the registry books.

     6.11 Acceptance of Appointment by Successor Trustee.  Any successor trustee
appointed as provided in Section  6.10 shall  execute and deliver to the Issuer,
the  Guarantor  and  its  predecessor  trustee  an  instrument   accepting  such
appointment  hereunder,   and  thereupon  the  resignation  or  removal  of  the
predecessor  trustee with respect to all or any  applicable  series shall become
effective  and  such  successor  trustee,  without  any  further  act,  deed  or
conveyance,  shall become vested with all rights, powers, duties and obligations
of its predecessor hereunder with respect to such series, with like effect as if
originally named as trustee for such series hereunder; but, nevertheless, on the
written request of the Issuer, the Guarantor or of the successor  trustee,  upon

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<PAGE>

payment of its charges then unpaid, the trustee ceasing to act shall, subject to
Section 10.4,  pay over to the successor  trustee all moneys at the time held by
it hereunder and shall execute and deliver an  instrument  transferring  to such
successor trustee all such rights, powers, duties and obligations.  Upon request
of any such successor  trustee,  the Issuer and the Guarantor  shall execute any
and all  instruments  in  writing  for more fully and  certainly  vesting in and
confirming  to such  successor  trustee all such rights and powers.  Any trustee
ceasing to act shall,  nevertheless,  retain a prior claim upon all  property or
funds  held or  collected  by such  trustee to secure  any  amounts  then due it
pursuant to the provisions of Section 6.6.

     If a successor  trustee is appointed  with respect to the Securities of one
or more (but not all) series, the Issuer, the Guarantor, the predecessor Trustee
and each  successor  trustee with respect to the Securities of such series shall
execute and deliver an indenture  supplemental  hereto which shall  contain such
provisions  as shall be deemed  necessary  or  desirable to confirm that all the
rights, powers, trusts and duties of the predecessor Trustee with respect to the
Securities  of any series as to which the  predecessor  Trustee is not  retiring
shall  continue  to be vested in the  predecessor  Trustee,  and shall add to or
change any of the  provisions of this Indenture as shall be necessary to provide
for or facilitate the  administration  of the trusts  hereunder by more than one
trustee,  it  being  understood  that  nothing  herein  or in such  supplemental
indenture shall constitute such trustees  co-trustees of the same trust and that
each  such  trustee  shall  be  trustee  of a trust  or  trusts  under  separate
indentures.

     No successor  trustee with respect to any series of Securities shall accept
appointment  as  provided  in  this  Section  6.11  unless  at the  time of such
acceptance such successor trustee shall be qualified under Section 310(b) of the
Trust Indenture Act and eligible under the provisions of Section 6.9.

     Upon acceptance of appointment by any successor trustee as provided in this
Section  6.11,  the Issuer  shall give notice  thereof  (a) if any  Unregistered
Securities of a series affected are then Outstanding, to the Holders thereof, by
publication  of such  notice at least  once in an  Authorized  Newspaper  in the
Borough of  Manhattan,  The City of New York and at least once in an  Authorized
Newspaper  in London  (and,  if  required  by Section  3.6,  at least once in an
Authorized  Newspaper in Luxembourg),  (b) if any  Unregistered  Securities of a
series  affected  are then  Outstanding,  to the Holders  thereof who have filed
their names and addresses with the Trustee within two years preceding the giving
of such notice, by mailing such notice to such Holders at such addresses as were
so  furnished  to the  Trustee  (and the  Trustee  shall  make such  information
available to the Issuer for such  purpose) and (c) to the Holders of  Registered
Securities  of each series  affected,  by mailing such notice to such Holders at
their addresses as they shall appear on the registry books. If the acceptance of
appointment is  substantially  contemporaneous  with the  resignation,  then the
notice  called for by the  preceding  sentence  may be combined  with the notice
called for by Section  6.10.  If the Issuer fails to give such notice within ten
days after  acceptance of  appointment by the successor  trustee,  the successor
trustee shall cause such notice to be given at the expense of the Issuer.

     6.12  Merger,  Conversion,  Consolidation  or  Succession  to  Business  of
Trustee.  Any corporation  into which the Trustee may be converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion
or  consolidation  to which the  Trustee  shall be a party,  or any  corporation

                                       52
<PAGE>

succeeding  to the  corporate  trust  business  of  the  Trustee,  shall  be the
successor of the Trustee  hereunder,  provided  that such  corporation  shall be
qualified under Section 310(b) of the Trust Indenture Act and eligible under the
provisions  of Section 6.9,  without the execution or filing of any paper or any
further act on the part of any of the  parties  hereto,  anything  herein to the
contrary notwithstanding.

     In case at the time such  successor  to the  Trustee  shall  succeed to the
trusts  created by this Indenture any of the Securities of any series shall have
been  authenticated  but not  delivered,  any such  successor to the Trustee may
adopt the certificate of authentication  of any predecessor  Trustee and deliver
such  Securities  so  authenticated;  and,  in  case  at  that  time  any of the
Securities of any series shall not have been authenticated, any successor to the
Trustee may authenticate  such Securities  either in the name of any predecessor
hereunder or in the name of the  successor  Trustee;  and in all such cases such
certificate  shall have the full force which it is anywhere in the Securities of
such series or in this  Indenture  provided that the  certificate of the Trustee
shall have; provided,  that the right to adopt the certificate of authentication
of any predecessor  Trustee or to  authenticate  Securities of any series in the
name of any predecessor  Trustee shall apply only to its successor or successors
by merger, conversion or consolidation.

     6.13  Appointment of  Authenticating  Agent. As long as any Securities of a
series remain Outstanding, the Trustee may, by an instrument in writing, appoint
with the  approval of the Issuer an  authenticating  agent (the  "Authenticating
Agent")  which  shall  be  authorized  to  act  on  behalf  of  the  Trustee  to
authenticate Securities, including Securities issued upon exchange, registration
of transfer,  partial redemption or pursuant to Section 2.9.  Securities of each
such series  authenticated by such Authenticating Agent shall be entitled to the
benefits of this  Indenture  and the related  Guarantees  and shall be valid and
obligatory  for  all  purposes  as if  authenticated  by the  Trustee.  Whenever
reference  is made in this  Indenture  to the  authentication  and  delivery  of
Securities  of any series by the  Trustee  or to 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 for such series and
a  Certificate  of  Authentication  executed  on behalf of the  Trustee  by such
Authenticating  Agent.  Such  Authenticating  Agent  shall  at  all  times  be a
corporation  organized and doing business under the laws of the United States of
America or of any State or the District of Columbia,  authorized under such laws
to exercise corporate trust powers,  having a combined capital and surplus of at
least  $50,000,000  (determined  as provided in Section 6.9 with  respect to the
Trustee) and subject to supervision or examination by Federal, State or District
of Columbia authority.

     Any  corporation  into  which  any  Authenticating  Agent  may be merged or
converted,  or with which it may be consolidated,  or any corporation  resulting
from any merger,  conversion or consolidation to which any Authenticating  Agent
shall be a party, or any corporation succeeding to the corporate agency business
of any Authenticating  Agent, shall continue to be the Authenticating Agent with
respect to all series of Securities for which it served as Authenticating  Agent
without the  execution  or filing of any paper or any further act on the part of
the Trustee or such Authenticating Agent.

     Any  Authenticating  Agent  may at any  time,  and if it shall  cease to be
eligible  shall,  resign by giving written notice of resignation to the Trustee,
the Issuer and the  Guarantor.  The Trustee may at any time terminate the agency
of  an   Authenticating   Agent  by  giving   written  notice  thereof  to  such

                                       53
<PAGE>

Authenticating Agent, the Issuer and the Guarantor. Upon receiving such a notice
of  resignation  or  upon  such  a  termination,  or in  case  at any  time  any
Authenticating  Agent  shall  cease  to  be  eligible  in  accordance  with  the
provisions  of  this  Section  6.13  with  respect  to one  or  more  series  of
Securities,  the  Trustee  shall  upon  receipt  of an  Issuer  Order  appoint a
successor  Authenticating  Agent and the  Issuer  shall  provide  notice of such
appointment to all Holders of Securities of such series in the manner and to the
extent  provided  in  Section  11.4.  Any  successor  Authenticating  Agent upon
acceptance  of its  appointment  hereunder  shall become vested with all rights,
powers,  duties and  responsibilities  of its predecessor  hereunder,  with like
effect as if originally named as Authenticating  Agent. The Issuer agrees to pay
to the  Authenticating  Agent  for  such  series  from  time to time  reasonable
compensation.  The  Authenticating  Agent for the Securities of any series shall
have no  responsibility  or liability  for any action taken by it as such at the
direction of the Trustee.

     Sections  6.2,  6.3,  6.4,  6.6,  6.9 and 7.3  shall be  applicable  to any
Authenticating Agent.

                                  ARTICLE VII

                         CONCERNING THE SECURITYHOLDERS

     7.1  Evidence of Action  Taken by  Securityholders.  Any  request,  demand,
authorization,  direction,  notice,  consent, waiver or other action provided by
this  Indenture  to be given or taken by a  specified  percentage  in  principal
amount  of the  Securityholders  of any or all  series  may be  embodied  in and
evidenced by one or more  instruments of  substantially  similar tenor signed by
such  specified  percentage  of  Securityholders  in  person  or by  agent  duly
appointed in writing;  and, except as herein otherwise expressly provided,  such
action shall become  effective when such instrument or instruments are delivered
to the Trustee.  Proof of execution of any instrument or of a writing appointing
any such  agent  shall be  sufficient  for any  purpose  of this  Indenture  and
(subject to Sections 6.1 and 6.2) conclusive in favor of the Trustee, the Issuer
and the Guarantor, if made in the manner provided in this Article.

     7.2 Proof of Execution of Instruments and of Holding of Securities. Subject
to Sections 6.1 and 6.2, the execution of any instrument by a Securityholder  or
his agent or proxy may be proved in the following manner:

          (a) The fact and date of the execution by any Holder of any instrument
     may be proved by the  certificate  of any notary public or other officer of
     any jurisdiction  authorized to take acknowledgments of deeds or administer
     oaths that the person  executing such  instruments  acknowledged to him the
     execution thereof,  or by an affidavit of a witness to such execution sworn
     to before any such notary or other such officer. Where such execution is by
     or on behalf of any legal entity other than an individual, such certificate
     or affidavit shall also constitute sufficient proof of the authority of the
     person  executing  the same.  The fact of the  holding  by any Holder of an
     Unregistered  Security of any series,  and the  identifying  number of such
     Security  and the  date of his  holding  the  same,  may be  proved  by the
     production  of such  Security  or by a  certificate  executed  by any trust
     company,  bank,  banker or recognized  securities  dealer wherever situated
     satisfactory  to the Trustee,  if such  certificate  shall be deemed by the
     Trustee to be satisfactory.  Each such certificate shall be dated and shall
     state  that on the  date  thereof  a  Security  of such  series  bearing  a
     specified  identifying number was deposited with or exhibited to such trust
     company,  bank, banker or recognized  securities dealer by the person named
     in such  certificate.  Any such certificate may be issued in respect of one

                                       54
<PAGE>

     or more  Unregistered  Securities of one or more series specified  therein.
     The holding by the person named in any such certificate of any Unregistered
     Securities  of any series  specified  therein shall be presumed to continue
     for a period  of one year from the date of such  certificate  unless at the
     time of any determination of such holding (1) another certificate bearing a
     later date issued in respect of the same Securities  shall be produced,  or
     (2) the  Security of such series  specified  in such  certificate  shall be
     produced by some other person, or (3) the Security of such series specified
     in such  certificate  shall  have  ceased  to be  Outstanding.  Subject  to
     Sections  6.1 and  6.2,  the fact  and  date of the  execution  of any such
     instrument  and the amount and numbers of  Securities of any series held by
     the person so executing  such  instrument and the amount and numbers of any
     Security or  Securities  for such  series may also be proven in  accordance
     with such  reasonable  rules and  regulations  as may be  prescribed by the
     Trustee for such series or in any other  manner  which the Trustee for such
     series may deem sufficient.

          (b) In the  case  of  Registered  Securities,  the  ownership  of such
     Securities shall be proved by the Security  register or by a certificate of
     the Security registrar.

     The Issuer may set a record date for purposes of  determining  the identity
of Holders of Registered Securities of any series entitled to vote or consent to
any action  referred to in Section 7.1, which record date may be set at any time
or from  time to time by notice  to the  Trustee,  for any date or dates (in the
case of any adjournment or reconsideration)  not more than 60 days nor less than
five days prior to the proposed  date of such vote or consent,  and  thereafter,
notwithstanding   any  other  provisions  hereof,  with  respect  to  Registered
Securities of any series,  only Holders of Registered  Securities of such series
of record on such record date shall be entitled to so vote or give such  consent
or revoke such vote or consent.

     7.3 Holders to be Treated as Owners. The Issuer, the Guarantor, the Trustee
and any agent of the Issuer, the Guarantor or the Trustee may deem and treat the
person in whose name any Security shall be registered upon the Security register
for such  series as the  absolute  owner of such  Security  (whether or not such
Security shall be overdue and notwithstanding any notation of ownership or other
writing  thereon) for the purpose of  receiving  payment of or on account of the
principal of and, subject to the provisions of this Indenture,  interest on such
Security and for all other purposes;  and neither the Issuer nor the Trustee nor
any agent of the Issuer or the  Trustee  shall be  affected by any notice to the
contrary. The Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the Holder of any  Unregistered  Security  and the Holder of any Coupon as
the absolute owner of such Unregistered  Security or Coupon (whether or not such
Unregistered  Security or Coupon  shall be overdue) for the purpose of receiving
payment thereof or on account thereof and for all other purposes and neither the
Issuer,  the  Trustee,  nor any  agent of the  Issuer  or the  Trustee  shall be
affected by any notice to the  contrary.  All such  payments so made to any such
person, or upon his order, shall be valid, and, to the extent of the sum or sums
so paid,  effectual to satisfy and discharge  the  liability for moneys  payable
upon any such Unregistered Security or Coupon.

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     7.4  Securities  Owned by Issuer  Deemed Not  Outstanding.  In  determining
whether the Holders of the requisite  aggregate  principal amount of Outstanding
Securities  of any or all series have  concurred  in any  direction,  consent or
waiver  under this  Indenture,  Securities  which are owned by the  Issuer,  the
Guarantor  or any other  obligor on the  Securities  with  respect to which such
determination is being made or by any Person directly or indirectly  controlling
or controlled by or under direct or indirect common control with the Issuer, the
Guarantor  or any other  obligor on the  Securities  with  respect to which such
determination  is  being  made  shall  be  disregarded  and  deemed  not  to  be
Outstanding  for the  purpose  of any such  determination,  except  that for the
purpose of determining  whether the Trustee shall be protected in relying on any
such direction, consent or waiver only Securities which the Trustee knows are so
owned shall be so  disregarded.  Securities  so owned which have been pledged in
good faith may be regarded as  Outstanding  if the  pledgee  establishes  to the
satisfaction  of the Trustee the pledgee's  right so to act with respect to such
Securities  and that the pledgee is not the Issuer,  the  Guarantor or any other
obligor upon the Securities or any Person directly or indirectly  controlling or
controlled by or under direct or indirect  common  control with the Issuer,  the
Guarantor  or any other  obligor on the  Securities.  In case of a dispute as to
such right,  the advice of counsel  shall be full  protection  in respect of any
decision made by the Trustee in accordance with such advice. Upon request of the
Trustee,  the  Issuer  shall  furnish  to  the  Trustee  promptly  an  Officers'
Certificate listing and identifying all Securities,  if any, known by the Issuer
to be owned or held by or for the account of any of the above described Persons;
and,  subject to Sections 6.1 and 6.2,  the Trustee  shall be entitled to accept
such Officers' Certificate as conclusive evidence of the facts therein set forth
and of the fact that all Securities not listed therein are  Outstanding  for the
purpose of any such determination.

     7.5 Right of  Revocation  of Action  Taken.  At any time  prior to (but not
after) the evidencing to the Trustee,  as provided in Section 7.1, of the taking
of any action by the Holders of the percentage in aggregate  principal amount of
the  Securities  of any or all  series,  as the case may be,  specified  in this
Indenture in  connection  with such action,  any Holder of a Security the serial
number of which is shown by the evidence to be included among the serial numbers
of the  Securities  the Holders of which have  consented  to such action may, by
filing written notice at the Corporate Trust Office and upon proof of holding as
provided in this Article,  revoke such action so far as concerns such  Security.
Except as aforesaid,  any such action taken by the Holder of any Security  shall
be  conclusive  and  binding  upon such  Holder and upon all future  Holders and
owners of such Security and of any Securities issued in exchange or substitution
therefor or on registration of transfer thereof,  irrespective of whether or not
any notation in regard thereto is made upon any such Security.  Any action taken
by the Holders of the percentage in aggregate principal amount of the Securities
of any or all  series,  as the  case  may be,  specified  in this  Indenture  in
connection with such action shall be conclusively  binding upon the Issuer,  the
Guarantor,  the Trustee and the Holders of all the  Securities  affected by such
action.

     7.6 Record Date for Consents and Waivers.  The Issuer may, but shall not be
obligated  to,  direct the Trustee to establish a record date for the purpose of
determining  the Persons  entitled to (i) waive any past default with respect to
the Securities of such series in accordance  with Section 5.10,  (ii) consent to
any  supplemental  indenture  in  accordance  with  Section  8.2 or (iii)  waive
compliance with any term,  condition or provision of any covenant  hereunder (if
the Indenture  should  expressly  provide for such waiver).  If a record date is
fixed, the Holders on such record date, or their duly designated proxies,  shall
be entitled  to waive any such past  default,  consent to any such  supplemental
indenture  or waive  compliance  with any such  term,  condition  or  provision,
whether or not such Holder  remains a Holder after such record  date;  provided,
however,  that unless such waiver or consent is obtained  from the  Holders,  or

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duly  designated  proxies,  of the  requisite  principal  amount of  Outstanding
Securities  of such  series  prior to the date  which is the 90th day after such
record date, any such waiver or consent previously given shall automatically and
without further action by any Holder be canceled and of no further effect.

                                  ARTICLE VIII

                             SUPPLEMENTAL INDENTURES

     8.1 Supplemental Indentures Without Consent of Securityholders.  The Issuer
and the  Guarantor,  each  when  authorized  by a  resolution  of its  Board  of
Directors  (which  resolution  may provide  general terms or parameters for such
action and may provide that the specific  terms of such action may be determined
in  accordance  with or pursuant to an Issuer  Order),  and the Trustee may from
time to time and at any time enter into an indenture or indentures  supplemental
hereto for one or more of the following purposes:

          (a) to convey,  transfer,  assign,  mortgage or pledge any property or
     assets to the Trustee as security for one or more series of the  Securities
     or the related Guarantees;

          (b) to evidence the  succession of another entity to the Issuer or the
     Guarantor, or successive  successions,  and the assumption by the successor
     of the covenants, agreements and obligations of the Issuer or the Guarantor
     pursuant to Article IX;

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

          (d) to cure any  ambiguity or to correct or  supplement  any provision
     contained herein or in any supplemental indenture which may be defective or
     inconsistent   with  any  other  provision   contained  herein  or  in  any
     supplemental  indenture,  or to make any other provisions as the Issuer may
     deem necessary or desirable,  provided that no such action shall  adversely
     affect the interests of the Holders of the Securities or Coupons;

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<PAGE>

          (e) to establish  the forms or terms of Securities of any series or of
     the Coupons  appertaining  to such  Securities as permitted by Sections 2.1
     and 2.3; and

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

     The Trustee is hereby  authorized to join with the Issuer and the Guarantor
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, mortgage or pledge of any property
thereunder,  but the  Trustee  shall  not be  obligated  to enter  into any such
supplemental  indenture  which  affects  the  Trustee's  own  rights,  duties or
immunities under this Indenture or otherwise.

     Any supplemental indenture authorized by the provisions of this Section may
be executed  without the consent of the Holders of any of the  Securities at the
time outstanding, notwithstanding any of the provisions of Section 8.2.

     8.2  Supplemental  Indentures  With  Consent of  Securityholders.  With the
consent (evidenced as provided in Article VII) of the Holders of not less than a
majority in aggregate principal amount of the Securities at the time Outstanding
of all  series  affected  by such  supplemental  indenture  (voting  as a single
class),  the Issuer and the Guarantor,  each when  authorized by a resolution of
its Board of Directors (which resolution may provide general terms or parameters
for such action and may provide  that the  specific  terms of such action may be
determined in accordance  with or pursuant to an Issuer Order),  and the Trustee
may,  from time to time and at any time,  enter into an indenture or  indentures
supplemental  hereto for the purpose of adding any  provisions to or changing in
any manner or  eliminating  any of the  provisions  of this  Indenture or of any
supplemental  indenture  or of modifying in any manner the rights of the Holders
of the  Securities  of each such series or of the Coupons  appertaining  to such
Securities; provided, that, without the consent of each Holder affected, no such
supplemental indenture shall:

          (a) reduce the amount of  Securities  whose Holders must consent to an
     amendment, supplement or waiver;

          (b)  reduce the rate of or change  the time for  payment of  interest,
     including default interest, on any Security;

          (c) reduce the  principal of or premium,  if any, on or any  mandatory
     sinking fund payment with respect to, or change the stated maturity of, any
     Security  or reduce  the  amount  of the  principal  that  would be due and
     payable upon a declaration of acceleration of the maturity thereof;

          (d) reduce the premium,  if any,  payable upon the  redemption  of any
     Security or change the time at which any Security may or shall be redeemed;

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          (e) change the coin or currency  or  currencies  (including  composite
     currencies)  in which any Security or any premium or interest  with respect
     thereto are payable;

          (f)  impair the right to  institute  suit for the  enforcement  of any
     payment of principal of or premium, if any, or interest on any Security;

          (g)  make  any  change  in  the  percentage  of  principal  amount  of
     Securities  necessary to waive  compliance with certain  provisions of this
     Indenture  pursuant  to  Section  5.6 or 5.7 or  make  any  change  in this
     sentence of Section 8.2;

          (h) waive a  continuing  default or Event of Default in the payment of
     principal of or premium, if any, or interest on the Securities; or

          (i) modify or affect the  obligations  of the Guarantor  under Article
     XIII in any manner adverse to the Holders.

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

     Upon the request of the Issuer,  accompanied  by a copy of a resolution  of
the Board of Directors of the Issuer (which resolution may provide general terms
or  parameters  for such action and may provide that the specific  terms of such
action may be  determined  in  accordance  with or pursuant to an Issuer  Order)
certified by the Secretary or an Assistant  Secretary of the Issuer  authorizing
the execution of any such supplemental  indenture,  and upon the filing with the
Trustee of evidence of the consent of the Holders of the Securities as aforesaid
and other  documents,  if any,  required by Section 7.1, the Trustee  shall join
with  the  Issuer  and the  Guarantor  in the  execution  of  such  supplemental
indenture unless such  supplemental  indenture affects the Trustee's own rights,
duties or  immunities  under  this  Indenture  or  otherwise,  in which case the
Trustee may in its  discretion,  but shall not be obligated  to, enter into such
supplemental indenture.

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

     Promptly  after the execution by the Issuer,  the Guarantor and the Trustee
of any supplemental  indenture  pursuant to the provisions of this Section,  the
Trustee  shall  give  notice  thereof  (i) to the  Holders  of then  Outstanding
Registered  Securities  of each  series  affected  thereby,  by mailing a notice
thereof by  first-class  mail to such  Holders at their  addresses as they shall
appear on the Security register, (ii) if any Unregistered Securities of a series
affected  thereby are then  Outstanding,  to the Holders  thereof who have filed
their names and addresses with the Trustee within two years preceding the giving
of such notice,  by mailing a notice thereof by first-class mail to such Holders
at  such  addresses  as  were so  furnished  to the  Trustee  and  (iii)  if any
Unregistered  Securities of a series affected thereby are then  Outstanding,  to

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<PAGE>

all Holders  thereof,  by  publication  of a notice  thereof at least once in an
Authorized  Newspaper in the Borough of  Manhattan,  The City of New York and at
least once in an  Authorized  Newspaper in London  (and,  if required by Section
3.6, at least once in an Authorized  Newspaper in Luxembourg),  and in each case
such notice shall set forth in general terms the substance of such  supplemental
Indenture.  Failure of the Issuer to give such  notice,  or any defect  therein,
shall  not,  however,  in any way  impair or  affect  the  validity  of any such
supplemental indenture.

     8.3  Effect  of   Supplemental   Indenture.   Upon  the  execution  of  any
supplemental  indenture pursuant to the provisions hereof,  this Indenture shall
be and be deemed to be modified  and  amended in  accordance  therewith  and the
respective  rights,  limitations of rights,  obligations,  duties and immunities
under this Indenture of the Trustee,  the Issuer,  the Guarantor and the Holders
of Securities of each series  affected  thereby shall  thereafter be determined,
exercised and enforced  hereunder subject in all respects to such  modifications
and  amendments,  and all the  terms  and  conditions  of any such  supplemental
indenture  shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.

     8.4  Documents  to Be  Given  to  Trustee.  The  Trustee,  subject  to  the
provisions of Sections 6.1 and 6.2, may receive an Officers'  Certificate and an
Opinion  of Counsel  as  conclusive  evidence  that any  supplemental  indenture
executed  pursuant to this Article VIII complies with the applicable  provisions
of this Indenture.

     8.5  Notation  on  Securities  in  Respect  of   Supplemental   Indentures.
Securities of any series  authenticated and delivered after the execution of any
supplemental  indenture  pursuant to the  provisions  of this Article may bear a
notation  in form  approved  by the  Trustee  for such  series as to any  matter
provided  for by  such  supplemental  indenture  or as to any  action  taken  by
Securityholders. If the Issuer or the Trustee shall so determine, new Securities
of any series so modified  as to conform,  in the opinion of the Trustee and the
Board  of  Directors  of the  Issuer,  to any  modification  of  this  Indenture
contained  in any such  supplemental  indenture  may be  prepared by the Issuer,
authenticated  by the Trustee and  delivered in exchange for the  Securities  of
such series then Outstanding.

                                   ARTICLE IX

                    CONSOLIDATION, MERGER, SALE OR CONVEYANCE

     9.1  Limitations  on  Mergers  and  Consolidations  of the  Guarantor.  The
Guarantor shall not, in any transaction or series of  transactions,  consolidate
with or merge into any Person,  or sell,  lease,  convey,  transfer or otherwise
dispose of all or substantially all of its assets to any Person, unless:

          (a) either (i) the Guarantor  shall be the  continuing  corporation or
     (ii) the Person (if other than the Guarantor) formed by such  consolidation
     or into  which the  Guarantor  is merged,  or to which  such  sale,  lease,
     conveyance, transfer or other disposition shall be made (collectively,  the
     "Successor"),  is  organized  and  validly  existing  under the laws of the
     United States, any State thereof or the District of Columbia, and expressly
     assumes by supplemental indenture the performance of the Guarantees and the
     Guarantor's   covenants  and  obligations  under  this  Indenture  and  the
     Securities;

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          (b) immediately  after giving effect to such  transaction or series of
     transactions,  no default or Event of Default  shall have  occurred  and be
     continuing or would result therefrom; and

          (c) the Guarantor delivers to the Trustee an Officers' Certificate and
     an Opinion of Counsel  prepared  in  accordance  with  Section  11.5,  each
     stating that the transaction and such  supplemental  indenture  comply with
     this Indenture.

     9.2 Successor Person  Substituted.  Upon any consolidation or merger of the
Guarantor or any sale, lease,  conveyance,  transfer or other disposition of all
or  substantially  all of the assets of the Guarantor in accordance with Section
9.1,  the  Successor  formed  by such  consolidation  or into or with  which the
Guarantor is merged or to which such sale, lease, conveyance,  transfer or other
disposition is made shall succeed to, and be  substituted  for, and may exercise
every right and power of the Guarantor under this Indenture,  the Guarantees and
the  Securities  with the same effect as if such Successor had been named as the
Guarantor  herein  and  the  predecessor  Guarantor,  in  the  case  of a  sale,
conveyance,   transfer  or  other  disposition,   shall  be  released  from  all
obligations under this Indenture and the Securities.

     9.3  Assignment  by  and  Substitution  of  the  Issuer.   The  rights  and
obligations  of the  Issuer  under  this  Indenture  and the  Securities  may be
assigned  or  transferred  (a) to  another  Person  with  which  the  Issuer  is
amalgamated,  consolidated or merged or which acquires by conveyance or transfer
any of the  properties  or assets of the Issuer;  (b) to the Guarantor or (c) to
another Subsidiary.  Provided that the requirements of this Section 9.3 for such
assignment  or  transfer  shall  have  been  met,  upon any such  assignment  or
transfer,  all of the  obligations  of the Issuer under this  Indenture  and the
Securities  shall cease and the Issuer  shall be released  from all  obligations
under this Indenture and the  Securities.  In the case of any  assignment  other
than  to the  Guarantor,  the  covenants  of the  Guarantor  set  forth  in this
Indenture shall remain in full force and effect or the Guarantor shall execute a
new guarantee  agreement  containing  provisions  substantially the same as such
covenants.  Any successor to the Issuer shall  expressly  assume by supplemental
indenture the due and punctual payment of the principal of (and premium, if any)
and interest on all the Securities and the performance of the Issuer's covenants
and  obligations  under this Indenture and the Securities.  In addition,  in the
event the Issuer  assigns all of its rights and  obligations  in respect of this
Indenture and the  Securities to the  Guarantor,  the provisions of Article XIII
shall  no  longer  apply  to the  Securities,  but the  other  covenants  of the
Guarantor set forth in this  Indenture and any other  covenants of the Guarantor
provided with respect to any series of Securities shall remain in full force and
effect.

                                   ARTICLE X

                          SATISFACTION AND DISCHARGE OF
                           INDENTURE; UNCLAIMED MONEYS

     10.1 Satisfaction and Discharge of Indenture.

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          (a) If at any time (i) the Issuer or the Guarantor  shall have paid or
     caused to be paid the  principal of and interest on all the  Securities  of
     any series  Outstanding  hereunder  and all  Coupons  appertaining  thereto
     (other than  Securities  of such series and  Coupons  appertaining  thereto
     which have been  destroyed,  lost or stolen and which have been replaced or
     paid as provided in Section 2.9) as and when the same shall have become due
     and payable,  or (ii) the Issuer or the Guarantor  shall have  delivered to
     the Trustee  for  cancellation  all  Securities  of any series  theretofore
     authenticated  and  all  Coupons   appertaining  thereto  (other  than  any
     Securities of such series and Coupons appertaining thereto which shall have
     been  destroyed,  lost or stolen and which shall have been replaced or paid
     as  provided  in  Section  2.9)  or  (iii)  in the  case of any  series  of
     Securities  where the exact amount  (including  the currency of payment) of
     principal of and interest due on such  Securities  can be determined at the
     time of making the  deposit  referred  to in clause (B) below,  (A) all the
     Securities  of  such  series  and  all  Coupons  appertaining  thereto  not
     theretofore delivered to the Trustee for cancellation shall have become due
     and  payable,  or are by their terms to become due and  payable  within one
     year or are to be called for redemption within one year under  arrangements
     satisfactory to the Trustee for the giving of notice of redemption, and (B)
     the Issuer or the Guarantor shall have  irrevocably  deposited or caused to
     be  irrevocably  deposited with the Trustee as trust funds in trust for the
     purpose of making the following payments,  specifically pledged as security
     for and dedicated solely to the benefit of the Holders of the Securities of
     such series and Coupons appertaining thereto, (x) cash in an amount, or (y)
     in the case of any series of  Securities  the payments on which may only be
     made in Dollars, direct obligations of the United States of America, backed
     by its full faith and credit ("U.S. Government  Obligations"),  maturing as
     to principal  -----------------------------  and interest at such times and
     in such amounts as will insure the  availability  of cash in an amount,  or
     (C) a  combination  thereof,  sufficient,  in the  opinion of a  nationally
     recognized firm of independent  public  accountants  expressed in a written
     certification  thereof  delivered to the Trustee,  to pay the principal and
     interest on all Securities of such series and Coupons  appertaining thereto
     on each date that such principal or interest is due and payable (whether at
     maturity or upon redemption  (through operation of a mandatory sinking fund
     or otherwise)  other than any redemption at the option of the Holder);  and
     if, in any such case,  the Issuer or the Guarantor  shall also pay or cause
     to be paid all other sums payable hereunder by the Issuer,  then all of the
     Securities  of such series and any Coupons  appertaining  thereto  shall be
     deemed  paid and  discharged  and the  provisions  of this  Indenture  with
     respect to such  Securities and Coupons shall cease to be of further effect
     (except  as  to  (1)  rights  of  registration  of  transfer,  exchange  of
     Securities  of such  series and of  Coupons  appertaining  thereto  and the
     Issuer's  right  of  optional  redemption,  if  any,  (2)  substitution  of
     mutilated,  defaced,  destroyed,  lost or stolen Securities or Coupons, (3)
     rights of Holders of Securities and Coupons appertaining thereto to receive
     payments of  principal  thereof and interest  thereon,  upon the stated due
     dates therefor (whether at maturity or upon redemption  (through  operation
     of a mandatory  sinking fund or otherwise) other than any redemption at the
     option  of the  Holder)  (but  not  upon  acceleration),  (4)  the  rights,
     obligations, duties and immunities of the Trustee hereunder, (5) the rights
     of the  Holders  of  Securities  of such  series and  Coupons  appertaining
     thereto as  beneficiaries  hereof with respect to the property so deposited
     with the Trustee  payable to all or any of them, and (6) the obligations of
     the Issuer under  Section 3.2) and the Trustee,  on demand of the Issuer or
     the Guarantor  accompanied  by an Officers'  Certificate  and an Opinion of

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<PAGE>

     Counsel which complies with Section 11.5 and at the cost and expense of the
     Issuer or the Guarantor, shall execute proper instruments acknowledging the
     same.  The Issuer and the Guarantor  agree to reimburse the Trustee for any
     costs or  expenses  thereafter  reasonably  and  properly  incurred  and to
     compensate the Trustee for any services thereafter  reasonably and properly
     rendered by the Trustee in connection with this Indenture or the Securities
     of such series.

          (b) In addition to  discharge  of the  Indenture  pursuant to the next
     preceding  paragraph,  in the case of any  series of  Securities  where the
     exact  amounts  (including  the  currency of payment) of  principal  of and
     interest due on such Securities can be determined at the time of making the
     deposit  referred to in clause (A) below, on the 91st day after the date of
     such  deposit  all  the  Securities  of  such  a  series  and  any  Coupons
     appertaining thereto shall be deemed paid and discharged and the provisions
     of this Indenture with respect to the Securities and Coupons shall cease to
     be of further effect (except as to (i) rights of  registration  of transfer
     and  exchange  of  Securities  of such  series and of Coupons  appertaining
     thereto  and the  Issuer's  right  of  optional  redemption,  if any,  (ii)
     substitution of mutilated, defaced, destroyed, lost or stolen Securities or
     Coupons,  (iii) rights of Holders of  Securities  and Coupons  appertaining
     thereto to receive payments of principal thereof and interest thereon, upon
     the stated due dates  therefor  (whether  at  maturity  or upon  redemption
     (through operation of a mandatory sinking fund or otherwise) other than any
     redemption at the option of the Holder) (but not upon  acceleration),  (iv)
     the rights,  obligations,  duties and immunities of the Trustee  hereunder,
     (v) the rights of the  Holders of  Securities  of such  series and  Coupons
     appertaining  thereto as beneficiaries  hereof with respect to the property
     so  deposited  with the Trustee  payable to all or any of them and (vi) the
     obligations  of the  Issuer  under  Section  3.2) and the  Trustee,  at the
     expense  of the  Issuer  or the  Guarantor,  shall at the  Issuer's  or the
     Guarantor's request, execute proper instruments acknowledging the same, if:

               (A) the Issuer or the  Guarantor  has  irrevocably  deposited  or
          caused to be irrevocably  deposited with the Trustee as trust funds in
          trust for the purpose of making the following  payments,  specifically
          pledged as  security  for and  dedicated  solely to the benefit of the
          Holders of the  Securities  of such  series and  Coupons  appertaining
          thereto,  (1) cash in an  amount,  or (2) in the case of any series of
          Securities  the  payments on which may only be made in  Dollars,  U.S.
          Government Obligations,  maturing as to principal and interest at such
          times and in such amounts as will insure the  availability  of cash in
          an amount or (3) a combination thereof,  sufficient, in the opinion of
          a  nationally   recognized  firm  of  independent  public  accountants
          expressed in a written certification thereof delivered to the Trustee,
          to pay the principal and interest on all Securities of such series and
          Coupons  appertaining  thereto  on each date that  such  principal  or
          interest  is due and payable  (whether  at maturity or upon  mandatory
          redemption   (through   operation  of  a  mandatory  sinking  fund  or
          otherwise) other than any redemption at the option of the Holder);

               (B) no Event of  Default or event  which with  notice or lapse of
          time or both  would  become an Event of  Default  with  respect to the
          Securities  shall have  occurred and be continuing on the date of such

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          deposit or,  insofar as subsections  5.1(d) and (e) are concerned,  at
          any time  during the  period  ending on the 91st day after the date of
          such deposit (it being  understood  that this  condition  shall not be
          deemed satisfied until the expiration of such period);

               (C) such  deposit  and  discharge  will not result in a breach or
          violation of, or constitute a default  under,  any other  agreement or
          instrument to which the Issuer or the Guarantor is a party or by which
          it is bound;

               (D) such  deposit  and  discharge  shall not cause the Trustee to
          have a conflicting  interest as defined in Section 310(b) of the Trust
          Indenture Act;

               (E) such  deposit and  discharge  shall not cause any  Securities
          then  listed on any  registered  national  securities  exchange  to be
          delisted;

               (F) the  Issuer or the  Guarantor  shall  have  delivered  to the
          Trustee an Opinion of Counsel based on the fact that (x) the Issuer or
          the Guarantor has received  from, or there has been  published by, the
          U.S.  Internal  Revenue Service a ruling or (y) since the date hereof,
          there has been a change in the applicable U.S. Federal income tax law,
          in either case to the effect  that,  and such  opinion  shall  confirm
          that,  the  Holders  of the  Securities  of such  series  and  Coupons
          appertaining  thereto will not recognize income, gain or loss for U.S.
          Federal  income tax purposes as a result of such  deposit,  defeasance
          and  discharge and will be subject to U.S.  Federal  income tax on the
          same  amount,  in the same  manner and at the same times as would have
          been the case if such deposit and discharge had not occurred; and

               (G) the  Issuer or the  Guarantor  shall  have  delivered  to the
          Trustee an  Officers'  Certificate  and an Opinion  of  Counsel,  each
          stating  that all  conditions  precedent  relating  to the deposit and
          discharge contemplated by this provision have been complied with.

          (c)  The  Issuer  and the  Guarantor  shall  be  released  from  their
     obligations  under  Sections  3.7,  3.8 and 9.1  and  any  other  covenants
     specified  pursuant to Section 2.3 with  respect to the  Securities  of any
     series  and any  Coupons  appertaining  thereto  on and  after the date the
     conditions   set  forth  below  are   satisfied   (hereinafter,   "covenant
     defeasance").  For this purpose,  such covenant defeasance means that, with
     respect to the Outstanding  Securities of the applicable series, the Issuer
     and the  Guarantor  may omit to comply with and shall have no  liability in
     respect of any term,  condition or limitation  set forth in such Section or
     any  such  covenant,  whether  directly  or  indirectly  by  reason  of any
     reference  elsewhere  herein to such  Section  or any such  covenant  or by
     reason of any  reference in such Section or any such  covenant to any other
     provision herein or in any other document and such omission to comply shall
     not  constitute an Event of Default under Section 5.1, but the remainder of
     this Indenture and such Securities and Coupons shall be unaffected thereby.
     The following shall be the conditions to application of this subsection (c)
     of this Section 10.1:

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               (i) The Issuer or the  Guarantor  has  irrevocably  deposited  or
          caused to be irrevocably  deposited with the Trustee as trust funds in
          trust for the purpose of making the following  payments,  specifically
          pledged as security for, and  dedicated  solely to, the benefit of the
          Holders of the  Securities  of such  series and  Coupons  appertaining
          thereto,  (A) cash in an  amount,  or (B) in the case of any series of
          Securities  the  payments on which may only be made in  Dollars,  U.S.
          Government  Obligations  maturing as to principal and interest at such
          times and in such amounts as will insure the  availability  of cash in
          an amount or (C) a combination thereof,  sufficient, in the opinion of
          a  nationally   recognized  firm  of  independent  public  accountants
          expressed in a written certification thereof delivered to the Trustee,
          to pay the principal and interest on all Securities of such series and
          Coupons  appertaining  thereto  on each date that  such  principal  or
          interest  is due and payable  (whether at maturity or upon  redemption
          (through  operation of a mandatory  sinking fund or  otherwise)  other
          than any redemption at the option of the Holder).

               (ii) No Event of Default or event  which with  notice or lapse of
          time or both  would  become an Event of  Default  with  respect to the
          Securities  shall have  occurred and be continuing on the date of such
          deposit or,  insofar as subsections  5.1(d) and (e) are concerned,  at
          any time  during the  period  ending on the 91st day after the date of
          such deposit (it being  understood  that this  condition  shall not be
          deemed satisfied until the expiration of such period).

               (iii)  Such  covenant  defeasance  will not result in a breach or
          violation  of,  or  constitute  a  default  under,  any  agreement  or
          instrument to which the Issuer is a party or by which it is bound.

               (iv) Such covenant defeasance shall not cause the Trustee to have
          a  conflicting  interest  as defined  in  Section  310(b) of the Trust
          Indenture Act.

               (v) Such covenant  defeasance shall not cause any Securities then
          listed on any registered national securities exchange to be delisted.

               (vi) The  Issuer or the  Guarantor  shall have  delivered  to the
          Trustee an Opinion  of Counsel to the effect  that the  Holders of the
          Securities  of such series and Coupons  appertaining  thereto will not
          recognize  income,  gain or loss for Federal  income tax purposes as a
          result of such  covenant  defeasance  and will be  subject  to Federal
          income  tax on the same  amounts,  in the same  manner and at the same
          times as would have been the case if such covenant  defeasance had not
          occurred.

               (vii) The Issuer or the  Guarantor  shall have  delivered  to the
          Trustee an  Officers'  Certificate  and an Opinion  of  Counsel,  each
          stating  that  all  conditions  precedent  relating  to  the  covenant
          defeasance contemplated by this provision have been complied with.

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     10.2  Application by Trustee of Funds  Deposited for Payment of Securities.
Subject to Section 10.4,  all moneys and  Securities  deposited with the Trustee
(or other  trustee)  pursuant to Section 10.1 shall be held in trust and applied
by it to the payment, either directly or through any paying agent (including the
Issuer  acting  as its own  paying  agent),  to the  Holders  of the  particular
Securities of such series and of Coupons appertaining thereto for the payment or
redemption  of which such  moneys or  Securities  have been  deposited  with the
Trustee,  of all sums due and to become due thereon for  principal and interest;
but such moneys or Securities  need not be segregated from other funds except to
the extent required by law.

     10.3  Repayment  of Moneys Held by Paying  Agent.  In  connection  with the
satisfaction  and discharge of this  Indenture with respect to Securities of any
series,  all moneys then held by any paying agent under the  provisions  of this
Indenture  with respect to such series of Securities  shall,  upon demand of the
Issuer or the  Guarantor,  be repaid to it or paid to the Trustee and  thereupon
such paying agent shall be released from all further  liability  with respect to
such moneys.

     10.4 Return of Moneys Held by Trustee and Paying  Agent  Unclaimed  for Two
Years.  Any moneys deposited with or paid to the Trustee or any paying agent for
the payment of the  principal  of or  interest on any  Security of any series or
Coupons attached  thereto and not applied but remaining  unclaimed for two years
after the date upon which such  principal or interest  shall have become due and
payable,  shall,  upon the  written  request of the Issuer and unless  otherwise
required by mandatory provisions of applicable escheat or abandoned or unclaimed
property  law,  be repaid to the Issuer by the  Trustee  for such series or such
paying agent, and the Holder of the Securities of such series and of any Coupons
appertaining thereto shall, unless otherwise required by mandatory provisions of
applicable escheat or abandoned or unclaimed property laws, thereafter look only
to the Issuer for any payment which such Holder may be entitled to collect,  and
all  liability  of the Trustee or any paying  agent with  respect to such moneys
shall thereupon cease; provided, however, that the Trustee or such paying agent,
before  being  required  to make any  such  repayment  with  respect  to  moneys
deposited with it for any payment (a) in respect of Registered Securities of any
series, shall, at the expense of the Issuer, mail by first-class mail to Holders
of such  Securities  at their  addresses  as they shall  appear on the  Security
register, and (b) in respect of Unregistered  Securities of any series, shall at
the expense of the Issuer cause to be published once, in an Authorized Newspaper
in the  Borough  of  Manhattan,  The City of New York and once in an  Authorized
Newspaper  in London  (and if  required by Section  3.6,  once in an  Authorized
Newspaper in Luxembourg), notice, that such moneys remain and that, after a date
specified  therein,  which  shall not be less than 30 days from the date of such
mailing or publication,  any unclaimed balance of such money then remaining will
be repaid to the Issuer.

     10.5 Indemnity for U.S.  Government  Obligations.  The Issuer shall pay and
indemnify  the  Trustee  against  any tax,  fee or other  charge  imposed  on or
assessed against the U.S. Government  Obligations  deposited pursuant to Section
10.1 or the principal or interest received in respect of such obligations.

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                                   ARTICLE XI

                            MISCELLANEOUS PROVISIONS

     11.1  Incorporators,  Stockholders,  Officers,  Directors  and Employees of
Issuer and Guarantor Exempt from Individual Liability. No recourse under or upon
any obligation,  covenant or agreement  contained in this  Indenture,  or in any
Security, or because of any indebtedness evidenced thereby, shall be had against
any incorporator,  as such or against any past,  present or future  stockholder,
officer,  director or  employee,  as such,  of the Issuer or the  Guarantor,  as
applicable  or of any  successor,  either  directly or through the Issuer or the
Guarantor  or  any  such   successor,   under  any  rule  of  law,   statute  or
constitutional provision or by the enforcement of any assessment or by any legal
or equitable proceeding or otherwise,  all such liability being expressly waived
and released by the acceptance of the  Securities  and the Coupons  appertaining
thereto by the Holders thereof and as part of the consideration for the issue of
the Securities and the Coupons appertaining thereto.

     11.2 Provisions of Indenture for the Sole Benefit of Parties and Holders of
Securities and Coupons.  Nothing in this Indenture,  in the Securities or in the
Coupons appertaining thereto,  expressed or implied,  shall give or be construed
to give to any  Person,  other  than the  parties  hereto  and their  respective
successors  and the Holders of the  Securities or Coupons,  if any, any legal or
equitable  right,  remedy or claim under this Indenture or under any covenant or
provision herein contained, all such covenants and provisions being for the sole
benefit of the parties hereto and their respective successors and of the Holders
of the Securities or Coupons, if any.

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

     11.4  Notices  and  Demands on Issuer,  Guarantor,  Trustee  and Holders of
Securities  and  Coupons.  Any notice or demand  which by any  provision of this
Indenture  is required or  permitted  to be given or served by the Trustee or by
the Holders of Securities or Coupons to or on the Issuer or the Guarantor may be
given or served by being deposited postage prepaid,  first-class mail (except as
otherwise  specifically provided herein) addressed (until another address of the
Issuer  or the  Guarantor  is  filed by the  Issuer  or the  Guarantor  with the
Trustee) to SYSCO Corporation,  1390 Enclave Parkway, Houston, Texas 77077-2099,
Attention: Chief Financial Officer. Any notice, direction,  request or demand by
the Issuer or any Holder of  Securities  or Coupons to or upon the Trustee shall
be deemed to have been  sufficiently  given or served by being deposited postage
prepaid,  first-class  mail (except as otherwise  specifically  provided herein)
addressed (until another address of the Trustee is filed by the Trustee with the
Issuer) to Wachovia Bank,  National  Association,  5847 San Felipe,  Suite 1050,
Houston, Texas 77057, Attention: Corporate Trust Administration Department.

     Where  this  Indenture   provides  for  notice  to  Holders  of  Registered
Securities,  such notice shall be sufficiently  given (unless  otherwise  herein
expressly  provided) if in writing and mailed,  first-class  postage prepaid, to
each Holder entitled thereto,  at his last address as it appears in the Security
register.  Where this Indenture  provides for notice to Holders of  Unregistered
Securities who have filed their names and addresses  within two years  preceding
the giving of such  notice,  such notice  shall be  sufficiently  given  (unless
otherwise  herein  expressly  provided)  if in writing and  mailed,  first-class

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postage  prepaid,  to each Holder  entitled  thereto,  at his last address as it
appears in such  filing.  Notice to other  Unregistered  Securities  shall be by
publication as provided in Section 6.10(a)(i).  In any case where notice to such
Holders  is given by mail,  neither  the  failure to mail such  notice,  nor any
defect in any  notice so  mailed,  to any  particular  Holder  shall  affect the
sufficiency of such notice with respect to other  Holders.  Where this Indenture
provides  for notice in any manner,  such notice may be waived in writing by the
Person  entitled to receive such notice,  either before or after the event,  and
such waiver shall be the equivalent of such notice. Waivers of notice by Holders
shall be filed  with the  Trustee,  but such  filing  shall  not be a  condition
precedent to the validity of any action taken in reliance upon such waiver.

     In case, by reason of the suspension of or  irregularities  in regular mail
service, it shall be impracticable to mail notice to the Issuer when such notice
is required to be given  pursuant to any provision of this  Indenture,  then any
manner of giving such notice as shall be reasonably  satisfactory to the Trustee
shall be deemed to be a sufficient giving of such notice.

     11.5  Officers'  Certificates  and  Opinions of Counsel;  Statements  to Be
Contained  Therein.  Upon any application or demand by the Issuer, the Guarantor
or both of them to the Trustee to take any action under any of the provisions of
this Indenture,  the Issuer,  the Guarantor or both of them, as the case may be,
shall  furnish  to  the  Trustee  an  Officers'  Certificate  stating  that  all
conditions  precedent  provided for in this  Indenture  relating to the proposed
action have been  complied  with and an Opinion of Counsel  stating  that in the
opinion of such counsel all such  conditions  precedent have been complied with,
except  that in the case of any  such  application  or  demand  as to which  the
furnishing of such documents is  specifically  required by any provision of this
Indenture  relating to such  particular  application  or demand,  no  additional
certificate or opinion need be furnished.

     Each certificate or opinion provided for in this Indenture and delivered to
the Trustee with respect to compliance with a condition or covenant provided for
in this  Indenture  shall  include (a) a statement  that the person  making such
certificate  or  opinion  has  read  such  covenant  or  condition,  (b) a brief
statement as to the nature and scope of the  examination or  investigation  upon
which the  statements or opinions  contained in such  certificate or opinion are
based,  (c) a statement  that,  in the opinion of such person,  he has made such
examination  or  investigation  as is  necessary  to enable  him to  express  an
informed  opinion as to  whether  or not such  covenant  or  condition  has been
complied  with and (d) a statement  as to whether or not, in the opinion of such
person, such condition or covenant has been complied with.

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

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opinion of or  representations  by an officer or  officers  of the Issuer or the
Guarantor, unless such counsel knows that the certificate,  statement or opinion
or  representations  with  respect to the  matters  upon which his  certificate,
statement or opinion may be based as aforesaid are erroneous, or in the exercise
of reasonable care should know that the same are erroneous.

     Any  certificate,  statement  or opinion of an officer of the Issuer or the
Guarantor  or 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 Issuer or the  Guarantor,  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, or in
the exercise of reasonable care should know that the same are erroneous.

     Any  certificate or opinion of any independent  firm of public  accountants
filed with and directed to the Trustee shall contain a statement  that such firm
is independent.

     11.6  Payments  Due on  Saturdays,  Sundays  and  Holidays.  If the date of
maturity of  interest on or  principal  of the  Securities  of any series or any
Coupons  appertaining  thereto or the date fixed for  redemption or repayment of
any such  Security  or Coupon  shall not be a  Business  Day,  then  payment  of
interest or principal need not be made on such date, but may be made on the next
succeeding Business Day with the same force and effect as if made on the date of
maturity or the date fixed for redemption,  and no interest shall accrue for the
period after such date.

     11.7 Conflict of Any Provision of Indenture  with Trust  Indenture  Act. If
and to the extent that any  provision  of this  Indenture  limits,  qualifies or
conflicts  with  another  provision  included in this  Indenture by operation of
Sections 310 to 317,  inclusive,  of the Trust  Indenture Act (an  "incorporated
provision"), such incorporated provision shall control.

     11.8  New  York Law to  Govern;  Jurisdiction;  Service  of  Process.  This
Indenture,  the  Guarantees and each Security and Coupon shall be deemed to be a
contract  under the laws of the State of New York, and for all purposes shall be
construed in  accordance  with the laws of such State  without  giving effect to
applicable  principles  of  conflicts  of laws to the extent the laws of another
jurisdiction  would be required  thereby.  Each of the Issuer and the  Guarantor
hereby submits to the non-exclusive jurisdiction of the federal and state courts
in the Borough of  Manhattan  in The City of New York in any suit or  proceeding
arising out of or relating to this  Agreement or the  transactions  contemplated
hereby.  The Issuer has appointed CT Corporation  System, 111 Eighth Avenue, New
York, New York 10011 as its authorized agent (the "Authorized  Agent") upon whom
process  may be served  in any suit,  action  or  proceeding  arising  out of or
relating to this  Indenture,  the Guarantees and each Security and Coupon or the
transactions contemplated thereby that may be instituted in any federal or state
court in the Borough of  Manhattan in The City of New York by the Trustee or any
Holder,  and agrees that service of process upon such agent,  and written notice
of said  service to the Issuer by the person  serving the same to the address of
the  Authorized  Agent  shall be deemed in every  respect  effective  service of
process  upon the  Issuer in any such suit or  proceeding.  The  Issuer  further
agrees  to  take  any  and all  action  as may be  necessary  to  maintain  such
designation  and appointment of such agent in full force and effect for a period
of ten years from the date of this  Indenture.  If for any reason CT Corporation
System  shall  cease to be  available  to act as such  Authorized  Agent for the

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Issuer,  the Issuer  agrees to designate a new agent in the State of New York on
the terms and for the purpose of this Section 11.8  reasonably  satisfactory  to
the   Trustee.   Each  of  the  Issuer  and  the   Guarantor   irrevocably   and
unconditionally  waives,  to the fullest extent  permitted by law, any objection
that it may have to laying of venue in respect of any action, suit or proceeding
arising out of or in connection  with this  Indenture,  the  Guarantees and each
Security  and Coupon or the  transactions  contemplated  hereby to which it is a
party brought in any federal or state court located in the State of New York and
hereby agrees not to plead or claim in any such court that any such action, suit
or proceeding has been brought in an inconvenient  forum. Each of the Issuer and
the Guarantor also waives,  to the fullest extent permitted by law, all right to
trial by jury in any claim or counterclaim (whether based upon contract, tort or
otherwise)  in any  way  arising  out of or  relating  to  this  Indenture,  the
Guarantees and each Security and Coupon.

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

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

     11.11  Securities  in a  Foreign  Currency  or  in  ECU.  Unless  otherwise
specified in an Officers'  Certificate delivered pursuant to Section 2.3 of this
Indenture  with  respect to a  particular  series of  Securities,  whenever  for
purposes of this Indenture any action may be taken by the Holders of a specified
percentage  in aggregate  principal  amount of  Securities  of all series or all
series  affected by a  particular  action at the time  Outstanding  and, at such
time, there are Outstanding  Securities of any series which are denominated in a
coin or currency other than Dollars  (including ECUs), then the principal amount
of  Securities  of such series which shall be deemed to be  Outstanding  for the
purpose of taking  such  action  shall be that  amount of Dollars  that could be
obtained  for such  amount at the Market  Exchange  Rate.  For  purposes of this
Section  11.11,  Market  Exchange Rate shall mean the noon Dollar buying rate in
New York City for cable  transfers  of that  currency  published  by the Federal
Reserve  Bank of New  York;  provided,  however,  in the  case of  ECUs,  Market
Exchange Rate shall mean the rate of exchange  determined  by the  Commission of
the European Communities (or any successor thereto) as published in the Official
Journal  of  the  European   Communities  (such  publication  or  any  successor
publication,  the "Journal").  If such Market Exchange Rate is not available for
any reason with  respect to such  currency,  the Trustee  shall use, in its sole
discretion  and without  liability  on its part,  such  quotation of the Federal
Reserve  Bank of New York  or,  in the case of  ECUs,  the rate of  exchange  as
published in the Journal,  as of the most recent  available  date, or quotations
or, in the case of ECUs,  rates of exchange  from one or more major banks in The
City of New York or in the country of issue of the currency in  question,  which
for purposes of the ECU shall be Brussels, Belgium, or such other quotations or,
in the case of ECU, rates of exchange as the Trustee shall deem appropriate. The
provisions of this paragraph shall apply in determining the equivalent principal
amount in respect of Securities of a series denominated in a currency other than
Dollars in connection with any action taken by Holders of Securities pursuant to
the terms of this Indenture.

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     All  decisions  and  determinations  of the  Trustee  regarding  the Market
Exchange  Rate or any  alternative  determination  provided for in the preceding
paragraph  shall be in its sole discretion and shall, in the absence of manifest
error,  be  conclusive  to the  extent  permitted  by law for all  purposes  and
irrevocably binding upon the Issuer and all Holders.

     11.12 Judgment  Currency.  Each of the Issuer and the Guarantor  agrees, to
the fullest extent that it may effectively do so under  applicable law, that (a)
if for the purpose of obtaining judgment in any court it is necessary to convert
the sum due in respect of the principal of or interest on the  Securities of any
series (the  "Required  Currency")  into a currency in which a judgment  will be
rendered (the "Judgment Currency"),  the rate of exchange used shall be the rate
at which in accordance with normal banking procedures the Trustee could purchase
in The City of New York the Required  Currency with the Judgment Currency on the
day on which final  unappealable  judgment is entered,  unless such day is not a
New York Banking Day, then, to the extent  permitted by applicable law, the rate
of exchange  used shall be the rate at which in accordance  with normal  banking
procedures  the  Trustee  could  purchase  in The City of New York the  Required
Currency  with the Judgment  Currency on the New York Banking Day  preceding the
day on which final  unappealable  judgment  is entered  and (b) its  obligations
under this Indenture to make payments in the Required  Currency (i) shall not be
discharged or satisfied by any tender,  or any recovery pursuant to any judgment
(whether or not entered in accordance with clause (a) of this sentence),  in any
currency other than the Required Currency, except to the extent that such tender
or recovery shall result in the actual receipt, by the payee, of the full amount
of the Required  Currency  expressed to be payable in respect of such  payments,
(ii) shall be enforceable  as an  alternative or additional  cause of action for
the purpose of recovering in the Required  Currency the amount, if any, by which
such actual receipt shall fall short of the full amount of the Required Currency
so  expressed  to be payable and (iii)  shall not be affected by judgment  being
obtained  for any  other sum due  under  this  Indenture.  For  purposes  of the
foregoing,  "New York Banking Day" means any day except a Saturday,  Sunday or a
legal holiday in The City of New York or a day on which banking  institutions in
The City of New York are  authorized  or required by law or  executive  order to
close.

                                  ARTICLE XII

                   REDEMPTION OF SECURITIES AND SINKING FUNDS

     12.1  Applicability  of Article.  The  provisions  of this Article shall be
applicable  to the  Securities of any series which are  redeemable  before their
maturity  (pursuant to operation  of any sinking  fund or  otherwise)  except as
otherwise  specified,  as  contemplated  by Section 2.3, for  Securities of such
series.

     12.2 Notice of Redemption; Partial Redemptions. Notice of redemption to the
Holders of  Registered  Securities of any series to be redeemed as a whole or in
part other than at the option of the Holder shall be given by mailing  notice of
such redemption by first-class mail,  postage prepaid,  at least 30 days and not
more than 60 days  prior to the date  fixed for  redemption  to such  Holders at
their last  addresses as they shall appear upon the  registry  books.  Notice of
redemption to the Holders of  Unregistered  Securities to be redeemed as a whole
or in part, who have filed their names and addresses with the Trustee within two
years  preceding the giving of such notice,  shall be given by mailing notice of
such redemption,  by first-class mail, postage prepaid, at least 30 days and not
more than 60 prior to the date  fixed for  redemption,  to such  Holders at such
addresses  as were so  furnished  to the Trustee  (and,  in the case of any such
notice given by the Issuer, the Trustee shall make such information available to
the Issuer  for such  purpose).  Notice of  redemption  to all other  Holders of

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Unregistered  Securities  shall be published in an  Authorized  Newspaper in the
Borough of  Manhattan,  The City of New York and in an  Authorized  Newspaper in
London  (and,  if  required  by  Section  3.6,  in an  Authorized  Newspaper  in
Luxembourg),  in each case, once in each of three successive calendar weeks, the
first publication to be not less than 30 nor more than 60 days prior to the date
fixed for  redemption.  Any notice which is mailed in the manner herein provided
shall be  conclusively  presumed  to have been duly  given,  whether  or not the
Holder receives the notice.  Failure to give notice, or any defect in the notice
to the Holder of any Security of a series  designated  for redemption as a whole
or in part shall not affect the validity of the  proceedings  for the redemption
of any other Security of such series.

     The notice of  redemption  to each such Holder shall  specify the principal
amount of each  Security of such series held by such Holder to be redeemed,  the
date fixed for redemption, the redemption price, the place or places of payment,
that payment will be made upon  presentation  and  surrender of such  Securities
and, in the case of Securities  with Coupons  attached  thereto,  of all Coupons
appertaining  thereto  maturing after the date fixed for  redemption,  that such
redemption  is pursuant to the  mandatory or optional  sinking fund, or both, if
such be the case, that interest accrued to the date fixed for redemption will be
paid as  specified  in such  notice  and that on and after  said  date  interest
thereon or on the portions thereof to be redeemed will cease to accrue.  In case
any Security of a series is to be redeemed in part only the notice of redemption
shall state the portion of the principal amount thereof to be redeemed and shall
state that on and after the date fixed for  redemption,  upon  surrender of such
Security,  a new Security or Securities of the same series, of like tenor and in
an aggregate  principal  amount equal to the unredeemed  portion thereof will be
issued.

     The notice of  redemption of Securities of any series to be redeemed at the
option of the Issuer shall be given by the Issuer or, at the  Issuer's  request,
by the Trustee in the name and at the expense of the Issuer.

     On or before the  redemption  date  specified  in the notice of  redemption
given as provided in this section, the Issuer or the Guarantor,  as the case may
be, will deposit with the Trustee or with one or more paying  agents (or, if the
Issuer is acting as its own paying agent, set aside, segregate and hold in trust
as  provided  in  Section  3.4) an amount of money  sufficient  to redeem on the
redemption  date all the  Securities of such series so called for  redemption at
the appropriate  redemption  price,  together with accrued  interest to the date
fixed for redemption.  If less than all Outstanding Securities of any series are
to be redeemed, the Issuer will deliver to the Trustee at least 70 days prior to
the date fixed for  redemption  an Officers'  Certificate  stating the aggregate
principal  amount of  Securities  of such  series to be  redeemed.  In case of a
redemption  at the  election  of the  Issuer  prior  to  the  expiration  of any
restriction on such redemption,  the Issuer shall deliver to the Trustee,  prior
to the giving of any notice of redemption  to Holders  pursuant to this Section,
an Officers' Certificate stating that such restriction has been complied with.

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     If less than all the Securities of a series are to be redeemed, the Trustee
shall select,  in such manner as it shall deem appropriate and fair,  Securities
of such series to be redeemed in whole or in part. Securities may be redeemed in
part in multiples of the minimum authorized  denomination for Securities of such
series.  The  Trustee  shall  promptly  notify  the  Issuer  in  writing  of the
Securities  of such  series  selected  for  redemption  and,  in the case of any
Securities of such series 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 of
any series shall relate,  in the case of any Security redeemed or to be redeemed
only in part, to the portion of the principal  amount of such Security which has
been or is to be redeemed.

     12.3 Payment of Securities  Called for Redemption.  If notice of redemption
has been given as above  provided,  the  Securities  or portions  of  Securities
specified  in such  notice  shall  become due and payable on the date and at the
place stated in such notice at the applicable  redemption  price,  together with
interest  accrued to the date fixed for  redemption,  and on and after said date
(unless  the Issuer  shall  default in the  payment  of such  Securities  at the
redemption  price,  together with interest accrued to said date) interest on the
Securities  or portions of Securities  so called for  redemption  shall cease to
accrue, and the unmatured Coupons, if any,  appertaining  thereto shall be void,
and, except as provided in Sections 6.5 and 10.4,  such  Securities  shall cease
from and after the close of  business  on the date  fixed for  redemption  to be
entitled  to any  benefit or  security  under this  Indenture,  and the  Holders
thereof  shall have no right in respect of such  Securities  except the right to
receive the redemption  price thereof and unpaid  interest to the date fixed for
redemption.  On  presentation  and  surrender of such  Securities  at a place of
payment  specified  in  said  notice,   together  with  all  Coupons,   if  any,
appertaining  thereto  maturing  after  the  date  fixed  for  redemption,  said
Securities or the specified  portions  thereof shall be paid and redeemed by the
Issuer or the Guarantor, as the case may be, at the applicable redemption price,
together  with  interest  accrued  thereon  to the date  fixed  for  redemption;
provided that payment of interest becoming due on or prior to the date fixed for
redemption  shall be payable in the case of  Securities  with  Coupons  attached
thereto, to the Holders of the Coupons for such interest upon surrender thereof,
and in the case of  Registered  Securities,  to the  Holders of such  Registered
Securities  registered as such on the relevant  record date subject to the terms
and provisions of Sections 2.3 and 2.7 hereof.

     If any Security  called for redemption  shall not be so paid upon surrender
thereof for redemption,  the principal  shall,  until paid or duly provided for,
bear  interest  from the date fixed for  redemption  at the rate of  interest or
Yield to Maturity (in the case of an Original Issue Discount  Security) borne by
such Security.

     If any Security with Coupons attached thereto is surrendered for redemption
and is not accompanied by all appurtenant  Coupons maturing after the date fixed
for redemption, the surrender of such missing Coupon or Coupons may be waived by
the Issuer and the Trustee,  if there be furnished to each of them such security
or indemnity as they may require to save each of them harmless.

     Upon  presentation of any Security  redeemed in part only, the Issuer shall
execute and the Trustee shall authenticate and deliver to or on the order of the
Holder  thereof,  at the expense of the Issuer,  a new Security or Securities of
the same series, in authorized denominations,  of like tenor and in an aggregate
principal amount equal to the unredeemed portion of the Security so presented.

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     12.4 Exclusion of Certain  Securities  from  Eligibility  for Selection for
Redemption.  Securities  shall be excluded  from  eligibility  for selection for
redemption if they are identified by registration  and certificate  number in an
Officers'  Certificate  delivered  to the  Trustee at least 40 days prior to the
last date on which  notice of  redemption  may be given as being owned of record
and beneficially by, and not pledged or hypothecated by either (a) the Issuer or
(b) an entity  specifically  identified in such written statement as directly or
indirectly  controlling  or  controlled  by or under  direct or indirect  common
control with the Issuer.

     12.5  Mandatory  and  Optional  Sinking  Funds.  The minimum  amount of any
sinking fund payment  provided for by the terms of the  Securities of any series
is herein referred to as a "mandatory  sinking fund payment," and any payment in
excess of such minimum amount provided for by the terms of the Securities of any
series is herein referred to as an "optional  sinking fund payment." The date on
which a sinking fund payment is to be made is herein referred to as the "sinking
fund payment date."

     In lieu of making all or any part of any  mandatory  sinking  fund  payment
with respect to any series of Securities in cash,  the Issuer or the  Guarantor,
as the case may be, may at its option (a) deliver to the Trustee  Securities  of
such series theretofore  purchased or otherwise acquired (except upon redemption
pursuant to the mandatory  sinking fund) by the Issuer or the Guarantor,  as the
case may be, or receive credit for Securities of such series (not  previously so
credited)  theretofore  purchased or otherwise acquired (except as aforesaid) by
the Issuer or the  Guarantor  and  delivered  to the  Trustee  for  cancellation
pursuant to Section 2.10, (b) receive credit for optional  sinking fund payments
(not  previously so credited)  made  pursuant to this  Section,  and (c) receive
credit for  Securities of such series (not  previously so credited)  redeemed by
the Issuer or the Guarantor through any optional redemption  provision contained
in the terms of such series.

     On or before the 60th day next preceding each sinking fund payment date for
any series,  the Issuer will  deliver to the  Trustee an  Officers'  Certificate
(which need not contain the statements  required by Section 11.5) (a) specifying
the portion of the mandatory  sinking fund payment to be satisfied by payment of
cash and the portion to be satisfied by credit of  Securities of such series and
the basis for such  credit,  (b)  stating  that none of the  Securities  of such
series to be so credited have previously  been so credited,  (c) stating that no
defaults in the payment of  interest or Events of Default  with  respect to such
series have  occurred  (which have not been waived or cured) and are  continuing
and (d) stating  whether or not the Issuer or the Guarantor  intends to exercise
its right to make an optional  sinking  fund payment with respect to such series
and, if so,  specifying  the amount of such optional  sinking fund payment which
the Issuer or the  Guarantor  intends  to pay on or before  the next  succeeding
sinking  fund payment  date.  Any  Securities  of such series to be credited and
required to be delivered to the Trustee in order for the Issuer or the Guarantor
to be entitled to credit therefor as aforesaid  which have not theretofore  been
delivered to the Trustee shall be delivered for cancellation pursuant to Section
2.10 to the Trustee with such  Officers'  Certificate  (or  reasonably  promptly
thereafter if acceptable to the Trustee).  Such Officers'  Certificate  shall be
irrevocable  and upon its  receipt by the  Trustee  the Issuer or the  Guarantor
shall become unconditionally obligated to make all the cash payments or payments
therein  referred  to, if any,  on or before the next  succeeding  sinking  fund
payment date. Failure of the Issuer or the Guarantor, on or before any such 60th
day,  to deliver  such  Officers'  Certificate  and  Securities  (subject to the
parenthetical  clause  in the  second  preceding  sentence)  specified  in  this

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paragraph,  if any, shall not constitute a default but shall constitute,  on and
as of such date,  the  irrevocable  election of the Issuer or the  Guarantor (i)
that  the  mandatory  sinking  fund  payment  for  such  series  due on the next
succeeding  sinking fund payment date shall be paid entirely in cash without the
option to deliver or credit  Securities  of such  series in respect  thereof and
(ii) that the Issuer or the Guarantor will make no optional sinking fund payment
with respect to such series as provided in this Section.

     If the sinking fund payment or payments  (mandatory or optional or both) to
be made in cash on the next succeeding sinking fund payment date plus any unused
balance of any preceding sinking fund payments made in cash shall exceed $50,000
(or the  equivalent  thereof in any Foreign  Currency or ECU) or a lesser sum in
Dollars (or the equivalent thereof in any Foreign Currency or ECU) if the Issuer
shall so request with respect to the Securities of any particular  series,  such
cash shall be applied on the next  succeeding  sinking  fund payment date to the
redemption of Securities of such series at the sinking fund  redelegation  price
together with accrued interest to the date fixed for redemption.  If such amount
shall be $50,000 (or the equivalent  thereof in any Foreign  currency or ECU) or
less and the Issuer  makes no such request then it shall be carried over until a
sum in excess of $50,000 (or the equivalent  thereof in any Foreign  Currency or
ECU) is available.  The Trustee shall select,  in the manner provided in Section
12.2 and subject to the  limitations  in Section  12.4,  for  redemption on such
sinking fund payment date a sufficient  principal  amount of  Securities of such
series to absorb  said  cash,  as nearly as may be, and shall (if  requested  in
writing by the Issuer) inform the Issuer of the serial numbers of the Securities
of such series (or portions thereof) so selected.  The Trustee,  in the name and
at the expense of the Issuer (or the Issuer,  if it shall so request the Trustee
in writing) shall cause notice of redemption of the Securities of such series to
be given in  substantially  the manner  provided  in Section  12.2 (and with the
effect provided in Section 12.3) for the redemption of Securities of such series
in part.  The amount of any sinking fund payments not so applied or allocated to
the  redemption  of  Securities  of such series  shall be added to the next cash
sinking fund payment for such series and,  together with such payment,  shall be
applied in accordance  with the provisions of this Section.  Any and all sinking
fund moneys held on the stated maturity date of the Securities of any particular
series (or earlier, if such maturity is accelerated), which are not held for the
payment or redemption of particular  Securities of such series shall be applied,
together with other moneys,  if necessary,  sufficient  for the purpose,  to the
payment of the principal  of, and interest on, the  Securities of such series at
maturity.

     On or before each sinking fund payment  date,  the Issuer or the  Guarantor
shall pay to the Trustee in cash or shall  otherwise  provide for the payment of
all  interest  accrued  to the date fixed for  redemption  on  Securities  to be
redeemed on the next following sinking fund payment date.

     The Trustee  shall not redeem or cause to be redeemed any  Securities  of a
series with sinking fund moneys or give any notice of  redemption  of Securities
for such series by  operation of the sinking  fund during the  continuance  of a
default in payment of  interest  on such  Securities  or of any Event of Default
except that,  where the giving of notice of redemption of any  Securities  shall
theretofore  have been made,  the Trustee  shall  redeem or cause to be redeemed
such  Securities,  provided  that it shall have  received from the Issuer or the
Guarantor a sum sufficient for such redemption.  Except as aforesaid, any moneys

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in the sinking  fund for such series at the time when any such  default or Event
of Default shall occur,  and any moneys  thereafter  paid into the sinking fund,
shall,  during the continuance of such default or Event of Default, be deemed to
have  been  collected  under  Article  V and  held for the  payment  of all such
Securities.  In case such Event of Default shall have been waived as provided in
Section  5.10 or the  default  cured on or  before  the 60th day  preceding  the
sinking fund payment date in any year,  such moneys shall  thereafter be applied
on the next succeeding sinking fund payment date in accordance with this Section
to the redemption of such Securities.

                                  ARTICLE XIII

                                   GUARANTEES

     13.1  Guarantees.  The  Guarantor  hereby  unconditionally  guarantees on a
senior basis to the Holders from time to time (a) the full and prompt payment of
the principal of any Security when and as the same shall become due,  whether at
the stated maturity thereof, by acceleration, redemption or otherwise, or in the
event of  default  in any  sinking  fund  payment,  and (b) the full and  prompt
payment of any interest on any  Security  when and as the same shall become due,
subject to any applicable grace period; provided that,  notwithstanding anything
to the contrary herein, the aggregate amount of the obligations guaranteed under
the Indenture by the Guarantor  shall be limited in amount to the maximum amount
that would render the  Guarantor's  obligations  subject to avoidance  under the
applicable fraudulent conveyance provisions of the United States Bankruptcy Code
or any  comparable  provision of any  applicable  state law. Each payment by the
Guarantor  with  respect  to any  Security  shall  be  paid in the  currency  or
currencies  specified for payments on such Security as  contemplated  by Section
2.3 and pursuant to this Indenture. Each and every default in the payment of the
principal of and interest on any Security shall give rise to a separate cause of
action  hereunder,  and separate suits may be brought hereunder as each cause of
action arises.  The Guarantee  hereunder  constitutes a guarantee of payment and
not of collection.

     The  obligations  of the  Guarantor  hereunder  with respect to a series of
Securities  shall be absolute and  unconditional,  irrespective of the validity,
regularity or enforceability of the Securities or this Indenture, the absence of
any  action to  enforce  the same,  any  waiver or  consent by any Holder of the
Securities with respect to any provisions hereof or thereof, the recovery of any
judgment  against the Issuer,  any action to enforce the same,  whether or not a
Guarantee is affixed to any particular Security, or any other circumstance which
might  otherwise  constitute  a legal or  equitable  discharge  or  defense of a
Guarantor, and, subject to Section 9.3 and Article X, shall remain in full force
and effect until the entire  principal of and interest on the Securities of such
series shall have been paid or provided for in accordance with the provisions of
such  series and of this  Indenture,  and such  payment  shall not be  affected,
modified  or  impaired  upon  the  happening  from  time to  time of any  event,
including  without  limitation any of the following,  whether or not with notice
to, or the consent of, the Guarantor:

          (a)  the  waiver,  surrender,   compromise,   settlement,  release  or
     termination  of any or all of the  obligations,  covenants or agreements of
     the Issuer under this Indenture or the Securities of such series;

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          (b) the failure to give notice to the Guarantor of the occurrence of a
     default or an Event of Default hereunder;

          (c) the waiver,  compromise or release of the payment,  performance or
     observance by the Issuer or the Guarantor of any or all of the obligations,
     covenants or agreements of either of them contained in this Indenture;

          (d) the extension of the time for payment of principal of and interest
     on any  Security  of  such  series  or for any  other  payment  under  this
     Indenture  or of  the  time  for  performance  of  any  other  obligations,
     covenants or agreements under or arising out of this Indenture;

          (e) the modification or amendment  (whether  material or otherwise) of
     any  obligation,  covenant or agreement set forth in this  Indenture or the
     Securities of such series;

          (f) the taking or the  omission of any of the  actions  referred to in
     this Indenture and any of the actions under the Securities of such series;

          (g) any failure, omission, delay or lack on the part of the Trustee to
     enforce,  assert or exercise  any right,  power or remedy  conferred on the
     Trustee  in this  Indenture,  or any  other  act or acts on the part of the
     Trustee or any of the Holders from time to time of the  Securities  of such
     series;

          (h) the voluntary or  involuntary  liquidation,  dissolution,  sale or
     other  disposition of all or substantially  all the assets,  marshalling of
     assets and liabilities,  receivership,  insolvency,  bankruptcy, assignment
     for the benefit of creditors, reorganization, arrangement, composition with
     creditors or readjustment  of, or other similar  proceedings  affecting the
     Guarantor  or the  Issuer,  or any of the  assets  of any of  them,  or any
     allegation or contest  respecting the validity of the Guarantee in any such
     proceeding;

          (i) to the  extent  permitted  by law,  the  release or  discharge  by
     operation of law of the Guarantor from the performance or observance of any
     obligation, covenant or agreement contained in this Indenture;

          (j) to the  extent  permitted  by law,  the  release or  discharge  by
     operation of law of the Issuer from the  performance  or  observance of any
     obligation, covenant or agreement contained in this Indenture;

          (k) the default or failure of the  Guarantor  or the Trustee  fully to
     perform  any  of  its  obligations  set  forth  in  this  Indenture  or the
     Securities of such series; or

          (l) the  invalidity of this Indenture or the Securities of such series
     or any part of any thereof.

     The Guarantor hereby waives the benefit of diligence,  presentment,  demand
of  payment,  filing  of  claims  with a court  in the  event of  insolvency  or
bankruptcy  of the Issuer,  any right to require a proceeding  first against the
Issuer,  protest,  notice and all  demands  whatsoever  and  covenants  that its

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Guarantee  shall  not  be  discharged  except  by  complete  performance  of the
obligations contained in the Securities,  this Indenture and this Guarantee.  No
set-off, counterclaim, reduction or diminution of any obligation, or any defense
of any kind or nature  which the  Guarantor  has or may have against the Trustee
shall be available  hereunder to the Guarantor against the Trustee to reduce the
payments of the Guarantor under this Section 13.1.

     The Guarantor assumes  responsibility  for being and remaining  informed of
the  financial  condition of the Issuer and of all other  circumstances  bearing
upon the risk of nonpayment of amounts owing under the Securities which diligent
inquiry would reveal and agrees that the Holders of the Securities shall have no
duty to advise the Guarantor of information  known to any of them regarding such
condition or any such circumstances.

     13.2  Proceedings  Against the Guarantor.  In the event of a default in the
payment of  principal  of or any  premium on any  Security  when and as the same
shall become due, whether at the stated maturity thereof, by acceleration,  call
for  redemption or  otherwise,  or in the event of a default in any sinking fund
payment,  or in the event of a default  in the  payment of any  interest  on any
Security  when and as the same shall  become  due,  each of the  Trustee and the
Holder of such  Security  shall  have the right to  proceed  first and  directly
against the Guarantor under this Indenture without first proceeding  against the
Issuer or  exhausting  any other  remedies  which the Trustee or such Holder may
have and without resorting to any other security held by it.

     The Trustee  shall have the right,  power and authority to do all things it
deems  necessary  or  advisable  to enforce  the  provisions  of this  Indenture
relating to the  Guarantee  and to protect the  interests  of the Holders of the
Securities  and, in the event of a default in payment of the principal of or any
premium on any Security  when and as the same shall  become due,  whether at the
Stated Maturity thereof, by acceleration,  call for redemption or otherwise,  or
in the event of a default  in any  sinking  fund  payment,  or in the event of a
default in the  payment of any  interest  on any  Security  when and as the same
shall  become  due,  the  Trustee may  institute  or appear in such  appropriate
judicial  proceedings  as the Trustee  shall deem most  effectual to protect and
enforce  any of its  rights  and the  rights  of the  Holders,  whether  for the
specific  enforcement of any covenant or agreement in this Indenture relating to
the  Guarantee  or in aid of the  exercise of any power  granted  herein,  or to
enforce  any  other  proper  remedy.  Without  limiting  the  generality  of the
foregoing, in the event of a default in payment of the principal of, premium (if
any) and interest on any Security when due, the Trustee may institute a judicial
proceeding for the  collection of the sums so due and unpaid,  and may prosecute
such  proceeding to judgment or final  decree,  and may enforce the same against
the  Guarantor  and collect the monies  adjudged or decreed to be payable in the
manner provided by applicable law out of the property of the Guarantor, wherever
situated.

     13.3  Guarantees for Benefit of Holders.  The Guarantees  contained in this
Indenture are provided by the Guarantor for the benefit of the Holders from time
to time. Such provisions shall not be deemed to create any right in, or to be in
whole or in part for the benefit of any Person  other  than,  the  Trustee,  the
Guarantor,  the Holders  from time to time and their  permitted  successors  and
assigns.

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     13.4 Severability. Any provision of this Article XIII that is prohibited or
unenforceable in any jurisdiction shall not invalidate the remaining  provisions
of  this  Article  XIII  or  this   Indenture  and  any  such   prohibition   or
unenforceability   in  any   jurisdiction   shall  not   invalidate   or  render
unenforceable such provision in any other jurisdiction  unless its removal would
substantially defeat the basic intent,  spirit and purpose of this Indenture and
this Article XIII.

                                       79
<PAGE>

     IN WITNESS WHEREOF the parties hereto have caused this Indenture to be duly
executed as of May 23, 2002.

                                 SYSCO INTERNATIONAL,  CO., as Issuer

                                 By:    /s/ Diane Day Sanders
                                     -------------------------------------------
                                 Name:  Diane Day Sanders
                                     -------------------------------------------
                                 Title: Treasurer
                                     -------------------------------------------

                                 SYSCO CORPORATION, as Guarantor

                                 By:    /s/ Diane Day Sanders
                                     -------------------------------------------
                                 Name:  Diane Day Sanders
                                     -------------------------------------------
                                 Title: Vice President & Treasurer
                                     -------------------------------------------

                                 WACHOVIA BANK, NATIONAL ASSOCIATION, TRUSTEE

                                 By:    /s/ R. Douglas Milner
                                     -------------------------------------------
                                 Name:  R. Douglas Milner
                                     -------------------------------------------
                                 Title: Vice President
                                     -------------------------------------------

                                       80
<PAGE>

                                                                       EXHIBIT A

                            [Form of Global Security]

THIS  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  SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A
SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED,  IN THE NAME OF ANY PERSON OTHER THAN SUCH  DEPOSITARY  OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

THIS  SECURITY HAS NOT BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS
AMENDED (THE  "SECURITIES  ACT"),  OR THE SECURITIES  LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED,  SOLD,  ASSIGNED,  TRANSFERRED,  PLEDGED,  ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH  REGISTRATION  OR UNLESS SUCH  TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

THE HOLDER OF THIS SECURITY,  BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF
AND ON BEHALF OF ANY INVESTOR  ACCOUNT FOR WHICH IT HAS PURCHASED  SECURITIES TO
OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,  PRIOR TO THE DATE (THE "RESALE
RESTRICTION TERMINATION DATE") THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL
ISSUE DATE HEREOF OR THE LAST DATE ON WHICH THE ISSUER OR ANY  AFFILIATE  OF THE
ISSUER WAS THE OWNER OF THIS  SECURITY (OR ANY  PREDECESSOR  OF SUCH  SECURITY),
ONLY:

          (A) TO THE ISSUER OR THE GUARANTOR,

          (B)  PURSUANT  TO A  REGISTRATION  STATEMENT  THAT HAS  BEEN  DECLARED
     EFFECTIVE UNDER THE SECURITIES ACT,

          (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE  PURSUANT TO
     RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A
     "QUALIFIED   INSTITUTIONAL  BUYER"  AS  DEFINED  IN  RULE  144A  UNDER  THE
     SECURITIES  ACT THAT  PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
     QUALIFIED  INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS
     BEING MADE IN RELIANCE ON RULE 144A,

          (D) PURSUANT TO OFFERS AND SALES THAT OCCUR  OUTSIDE THE UNITED STATES
     WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT,

                                       A-1
<PAGE>

          (E) TO AN  INSTITUTIONAL  "ACCREDITED  INVESTOR" WITHIN THE MEANING OF
     RULE  501(a)(1),  (2),  (3) OR (7)  UNDER  THE  SECURITIES  ACT  THAT IS AN
     INSTITUTIONAL  ACCREDITED  INVESTOR  ACQUIRING  THE  SECURITY  FOR  ITS OWN
     ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN
     EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000,  FOR
     INVESTMENT  PURPOSES  AND  NOT  WITH A VIEW  TO OR FOR  OFFER  OR  SALE  IN
     CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR

          (F)  PURSUANT TO ANOTHER  AVAILABLE  EXEMPTION  FROM THE  REGISTRATION
     REQUIREMENTS  OF THE  SECURITIES  ACT,  SUBJECT  TO THE  ISSUER'S  AND  THE
     TRUSTEE'S  RIGHT  PRIOR TO ANY SUCH  OFFER,  SALE OR  TRANSFER  PURSUANT TO
     CLAUSE (D),  (E) OR (F) TO REQUIRE  THE  DELIVERY OF AN OPINION OF COUNSEL,
     CERTIFICATION  AND/OR OTHER INFORMATION  SATISFACTORY TO EACH OF THEM. THIS
     LEGEND  WILL BE REMOVED  UPON THE  REQUEST  OF THE HOLDER  AFTER THE RESALE
     RESTRICTION TERMINATION DATE.

     [THIS NOTE IS A TEMPORARY GLOBAL  SECURITY.  PRIOR TO THE EXPIRATION OF THE
RESTRICTED PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS HEREIN MAY NOT BE HELD
BY ANY  PERSON  OTHER  THAN  (1) A  NON-U.S.  PERSON  OR (2) A U.S.  PERSON  WHO
PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES  ACT") PURSUANT TO RULE 144A
THEREUNDER.  BENEFICIAL INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR PHYSICAL NOTES
OTHER  THAN A  PERMANENT  GLOBAL  NOTE  IN  ACCORDANCE  WITH  THE  TERMS  OF THE
INDENTURE.  TERMS IN THIS  LEGEND  ARE USED AS USED IN  REGULATION  S UNDER  THE
SECURITIES ACT.] [THIS LEGEND FOR REG S SECURITY ONLY.]

                                       A-2
<PAGE>

                            SYSCO INTERNATIONAL, CO.
                         ____% Notes due ______________

No. ____________                                             CUSIP: ____________

PRINCIPAL AMOUNT: $____________              AUTHENTICATION DATE: ______________

ORIGINAL ISSUE DATE: _______________             STATED MATURITY: ______________

INTEREST RATE: ____% per annum              SUBJECT TO  DEFEASANCE  PURSUANT  TO
                                            ARTICLE  X OF THE INDENTURE REFERRED
                                            TO HEREIN

ISSUE PRICE (%): _______%

     SYSCO  International  Co., an unlimited  liability  company  organized  and
existing  under the laws of the Province of Nova Scotia,  Canada  (herein called
the  "Issuer",  which term  includes any  successor  Person under the  Indenture
referred to herein),  for value received,  hereby promises to pay to CEDE & Co.,
or registered assigns, the principal sum of  _____________________  ($_________)
on _____________ (the "Stated Maturity") and to pay interest thereon at the rate
of ____% per annum,  computed on the basis of a 360-day year  comprising  twelve
30-day months,  from  ____________  (the "Original Issue Date") or from the most
recent  Interest  Payment Date to which  interest has been paid or duly provided
for, on ____________  and  _____________ in each year and at the Stated Maturity
or upon redemption, commencing with _____________, until the principal hereof is
paid or made available for payment.  If an Interest Payment Date would otherwise
fall on a day that is not a Business Day,  such  Interest  Payment Date shall be
postponed to the next succeeding Business Day and no interest shall accrue or be
payable on such next succeeding  Business Day for the period from and after such
original  Interest Payment Date to such next succeeding  Business Day. Except as
provided in the immediately  preceding  sentence,  interest payments shall be in
the amount of interest accrued to, but excluding, the Interest Payment Date.

     The interest  payable,  and  punctually  paid or duly  provided for, on any
Interest Payment Date will, as provided in the Indenture  referred to herein, be
paid to the Person in whose name this  Security  is  registered  at the close of
business  on  the  Regular  Record  Date  for  such  interest,  which  shall  be
_____________ or _____________  (whether or not a Business Day), as the case may
be, next preceding such Interest Payment Date.

     Payments  of  principal  on this  Security  and  interest  payable  on this
Security at the Stated  Maturity or upon  redemption of this  Security  shall be
made in  immediately  available  funds in such  currency of the United States of

                                       A-3
<PAGE>

America  as at the time of  payment  shall be legal  tender  for the  payment of
public and private  debts,  at the request of the Holder upon  presentation  and
surrender of this  Security,  at the office or agency of the paying agent in New
York,  New York or any other duly  appointed  paying  agent,  provided that this
Security is  presented  to the paying agent in time for the paying agent to make
payments  in  immediately   available   funds  in  accordance  with  its  normal
procedures.  So long as any  Securities are  represented by a Registered  Global
Security,  interest (other than interest payable at maturity or upon redemption)
shall be paid in immediately  available funds by wire transfer to the Depositary
for such  Securities,  on the written order of the  Depositary.  Initially,  the
Trustee will act as paying agent and registrar. The Issuer may change any paying
agent or registrar upon written notice thereto to the Trustee. Any Subsidiary or
Affiliate may act as paying agent, registrar or co-registrar.

     Payment of interest  (other than interest  payable in  accordance  with the
provisions of the  immediately  preceding  paragraph)  will,  subject to certain
exceptions provided in the Indenture referred to herein, be made by check mailed
to the address of the Person  entitled  thereto as such address  shall appear in
the security register as of the applicable Regular Record Date or, at the option
of the Issuer,  by wire transfer to an account  maintained by such Person with a
bank located in the United States.

     [The  Holder  of  this   Security  is  entitled  to  the  benefits  of  the
Registration Rights Agreement, dated ___________,  2002, among the Issuer, SYSCO
Corporation,  (the  "Guarantor")  and the Initial  Purchasers named therein (the
"Registration  Rights  Agreement").  In the event  that (i) the  Issuer  and the
Guarantor  have not filed the  Exchange  Offer  Registration  Statement or Shelf
Registration  Statement  with  the  SEC on or  before  the  date on  which  such
Registration  Statement  is required to be so filed  pursuant to Section 2(a) or
2(b),  respectively,  of the Registration Rights Agreement or (ii) such Exchange
Offer  Registration  Statement  or  Shelf  Registration  Statement  has not been
declared  effective by the SEC under the Securities Act on or before the date on
which such Registration Statement is required to be declared effective under the
Securities  Act  pursuant  to  Section  2(a)  or  2(b),  respectively,   of  the
Registration  Rights  Agreement  or  (iii)  the  Exchange  Offer  has  not  been
consummated  within 210 days after the Closing  Date (as such term is defined in
the  Registration  Rights  Agreement)  or (iv) the Exchange  Offer  Registration
Statement  or Shelf  Registration  Statement  required by Section  2(a) or 2(b),
respectively,  of the  Registration  Rights  Agreement  is  filed  and  declared
effective by the SEC under the  Securities  Act but shall  thereafter  either be
withdrawn by the Issuer or the Guarantor or shall become subject to an effective
stop order issued  pursuant to Section 8(d) of the Securities Act suspending the
effectiveness of such Registration  Statement (except as specifically  permitted
in the Registration  Rights Agreement) without being succeeded  immediately by a
post-effective  amendment  to  such  Registration  Statement  or  an  additional
Registration  Statement  filed  and  declared  effective  by the SEC  under  the
Securities  Act (each such event  referred  to in clauses  (i)  through  (iv) is
referred to herein as a  "Registration  Default" and each period  during which a
Registration  Default has occurred and is continuing until the Securities become
freely   tradable  under  the  Securities  Act  is  referred  to  herein  as,  a
"Registration Default Period"),  then the interest rate on this Security will be
increased  by 0.25%  per  annum  during  the  first 90 days of the  Registration
Default Period,  and by 0.50% per annum thereafter for the remaining  portion of
the Registration  Default Period ("Additional  Interest").  The interest rate on

                                       A-4
<PAGE>

this Security will revert to the interest rate prior to any increase pursuant to
Section  3(a)  of  the  Registration  Rights  Agreement  at  such  time  as  all
Registration Defaults are cured.]1

     Interest  on this  Security  will accrue from the most recent date to which
interest has been paid on this Security [or the Security surrendered in exchange
herefor]2 or, if no interest has been paid, from  ___________,  _____;  provided
that,  if there is no existing  default in the  payment of interest  and if this
Security is authenticated  between a Regular Record Date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from
such Interest Payment Date.  Interest will be computed on the basis of a 360-day
year of twelve 30-day months.

     The Issuer shall pay interest on overdue principal and premium, if any, and
interest on overdue installments of interest and Additional Interest, if any, to
the extent lawful,  at a rate per annum equal to ___% per annum in excess of the
rate of interest applicable to the Securities.

     The Guarantor hereby fully and unconditionally guarantees on a senior basis
to the  Holders  from  time to time  (a) the full and  punctual  payment  of the
principal  of any  Security  when and as the same shall  become due,  whether at
stated maturity  thereof,  by acceleration,  redemption or otherwise,  or in the
event of default or any  sinking  fund  payment,  and (b) the full and  punctual
payment of any interest on any  Security  when and as the same shall become due,
subject to any applicable grace period, provided that,  notwithstanding anything
to the contrary herein, the aggregate amount of the obligations guaranteed under
the Indenture by any Guarantor  shall be limited in amount to the maximum amount
that would not render such  Guarantor's  obligations  subject to avoidance under
the applicable  fraudulent conveyance provisions of the United States Bankruptcy
Code or any comparable provision of any applicable state law.

     The Securities are redeemable in whole or in part at any time and from time
to time  prior  to the  Stated  Maturity,  at the  option  of the  Issuer,  at a
redemption price equal to the greater of the following amounts,  plus, in either
case,  accrued and unpaid interest on the principal amount being redeemed to the
date of redemption:  (1) 100% of the principal  amount of the  Securities  being
redeemed;  or (2) the  sum of the  present  values  of the  remaining  scheduled
payments  of  principal  of  and  interest  on  the  Securities  to be  redeemed
(exclusive  of interest  accrued to the date of  redemption),  discounted to the
date of redemption on a semi-annual basis (assuming a 360-day year consisting of
twelve  30-day  months)  at the  Treasury  Rate  (as  defined  in the  following
paragraph) plus ___ basis points.

     As used in this paragraph and in the immediately  preceding paragraph only,
the terms set forth below shall have the following respective meanings:

          "Business  Day" means any calendar day that is not a Saturday,  Sunday
     or legal  holiday  in New  York,  New York or  Houston,  Texas and on which
     commercial  banks are open for business in New York,  New York and Houston,
     Texas.

________________
(1) Include only for Initial Note.
(2) Include only for Exchange Note.

                                       A-5
<PAGE>

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

          "Comparable  Treasury  Price"  means,  with respect to any  redemption
     date,  the average of two Reference  Treasury  Dealer  Quotations  for that
     redemption date.

          "Quotation Agent" means J.P. Morgan Securities Inc. or its successor.

          "Reference  Treasury Dealer" means each of (1) J.P. Morgan  Securities
     Inc.  or its  successor  and (2) one  other  firm  that is a  primary  U.S.
     Government  securities  dealer  in  New  York  City  (a  "Primary  Treasury
     Dealer"),  which we specify from time to time; provided;  however, that, if
     either of them  ceases to be a Primary  Treasury  Dealer  the  Issuer  will
     substitute therefor another Primary Treasury Dealer.

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

          "Treasury Rate" means,  with respect to any redemption  date, the rate
     per year equal to: (1) the yield,  under the heading which  represents  the
     average for the immediately  preceding week, appearing in the most recently
     published  statistical  release  designated  "H.15 (519)" or any  successor
     publication  which is  published  weekly by the Board of  Governors  of the
     Federal  Reserve  System and which  establishes  yields on actively  traded
     United States Treasury  securities  adjusted to constant maturity under the
     caption "Treasury Constant  Maturities," for the maturity  corresponding to
     the  Comparable  Treasury  Issue;  provided  that, if no maturity is within
     three months  before or after the maturity date of the  Securities,  yields
     for  the  two  published  maturities  most  closely  corresponding  to  the
     Comparable Treasury Issue shall be determined,  and the Treasury Rate shall
     be interpolated or extrapolated from such yields on a straight-line  basis,
     rounding  to the nearest  month;  or (2) if such  release or any  successor
     release is not published  during the week preceding the calculation date or
     does not contain  such  yields,  the rate per year equal to the  semiannual

                                       A-6
<PAGE>

     equivalent yield to maturity of the Comparable  Treasury Issue,  calculated
     using a price for the Comparable Treasury Issue,  expressed as a percentage
     of its principal  amount,  equal to the Comparable  Treasury Price for such
     redemption date. The Treasury Rate will be calculated on the third Business
     Day preceding the redemption date.

     Notice of any redemption  will be mailed at least 30 days but not more than
60 days  before  the date of  redemption  to each  holder  of  Securities  to be
redeemed.  If fewer than all of the Securities  are to be redeemed,  the Trustee
will select, in such manner as the Trustee shall deem fair and appropriate,  the
particular Securities to be redeemed in whole or in part.

     Unless the Issuer defaults in payment of the redemption  price, on or after
the date of  redemption,  interest  will  cease to accrue on the  Securities  or
portions thereof called for redemption.

     In the event of redemption of this Security in part only, a new Security or
Securities  of like  tenor and in an  aggregate  principal  amount  equal to the
unredeemed  portion  hereof will be issued in the name of the Holder hereof upon
the cancellation hereof.

     The Securities are not subject to any sinking fund.

     REFERENCE  IS HEREBY MADE TO THE FURTHER  PROVISIONS  OF THIS  SECURITY SET
FORTH IN FULL ON THE REVERSE  HEREOF,  WHICH  FURTHER  PROVISIONS  SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH IN FULL AT THIS PLACE.

     Unless the  certificate of  authentication  hereon has been executed by the
Trustee referred to on the reverse hereof, directly or through an Authenticating
Agent, by manual signature of an authorized  signatory,  this Security shall not
be entitled to any benefit under the Indenture referred to herein or be valid or
obligatory for any purpose.

     IN WITNESS  WHEREOF,  each of the Issuer and the  Guarantor has caused this
instrument to be duly executed under its corporate seal.

                                   SYSCO INTERNATIONAL, CO., as Issuer

[Seal]

                                   By
                                     -------------------------------------------
                                        Name:
                                        Title:

                                       A-7
<PAGE>

                                   SYSCO CORPORATION, as Guarantor

[Seal]

                                   By
                                     -------------------------------------------
                                        Name:
                                        Title:

                                       A-8
<PAGE>

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

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

                                   WACHOVIA BANK, NATIONAL ASSOCIATION,
                                   as Trustee

Dated:                             By
       --------------------          -------------------------------------------
                                        Authorized Signatory

                                       A-9
<PAGE>

                              [REVERSE OF SECURITY]

                            SYSCO INTERNATIONAL, CO.
                           ____% Notes due ___________

     This Security is one of a duly authorized issue of securities of the Issuer
(the  "Securities"),  issued  and to be  issued in one or more  series  under an
Indenture dated as of  _______________  and executed and delivered by the Issuer
and SYSCO Corporation,  as Guarantor, to Wachovia Bank, National Association, as
trustee (herein called the "Trustee," which term includes any successor  trustee
under the Indenture),  as executed and delivered by the Issuer and the Guarantor
to the Trustee (the  "Indenture"),  to which Indenture  reference is hereby made
for a statement of the  respective  rights,  limitations  of rights,  duties and
immunities  thereunder  of the  Issuer,  the  Trustee  and  the  Holders  of the
Securities  and of the terms  upon  which  the  Securities  are,  and are to be,
authenticated and delivered.  The acceptance of this Security shall be deemed to
constitute  the consent and  agreement of the Holder  hereof to all of the terms
and  conditions  of the  Indenture.  This  Security  is a Security of the series
designated  on the  face  hereof,  limited  in  aggregate  principal  amount  to
$__________.

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

     The Indenture contains provisions  permitting the Issuer and the Trustee to
modify the Indenture or any  supplemental  indenture  without the consent of the
Holders for one or more of the  following  purposes  (as more  particularly  set
forth in the Indenture): (1) to convey, transfer, assign, mortgage or pledge any
property or assets to the Trustee as security for the  Securities of one or more
series;  (2) to evidence the  succession of another  entity to the Issuer or the
Guarantor;  (3) to add to the  covenants  of the Issuer or the  Guarantor or add
Events of Default  for the  benefit of Holders;  (4) to cure any  ambiguity,  to
correct or supplement  any provision of the Indenture  which may be defective or
inconsistent  with any other  provision of the  Indenture,  or to make any other
provisions  with respect to matters or questions  arising under the Indenture as
shall not adversely affect the interests of the Holders in any material respect;
(5) to establish  the form or terms of  Securities of any series as permitted by
Sections 2.1 and 2.3 of the Indenture;  and (6) to evidence the appointment of a
successor Trustee.

     The Indenture also permits,  with certain  exceptions as therein  provided,
the amendment  thereof and the modification of the rights and obligations of the
Issuer and the Guarantor,  as  applicable,  and the rights of the Holders of the
Securities of each series to be affected  under the Indenture at any time by the
Issuer  and the  Trustee  with the  consent  of the  Holders  of not less than a
majority in principal  amount of the Securities then  outstanding of each series
to  be  affected  (voting  as a  single  class).  The  Indenture  also  contains
provisions permitting the Holders of a majority in aggregate principal amount of
the  Securities  of all series at the time  outstanding  with respect to which a
default or Event of Default shall have  occurred and be continuing  (voting as a
single class), on behalf of the Holders of all such Securities, to waive certain
past defaults and Events of Default under the Indenture and their  consequences.
Any such consent or waiver by the Holder of this  Security  shall be  conclusive
and binding upon such Holder and upon all future Holders of this Security and of

                                       A-10
<PAGE>

any Security issued upon the  registration of transfer hereof or in exchange for
or in lieu  hereof,  whether or not  notation of such  consent or waiver is made
upon this Security.

     As set forth in, and subject to the provisions of, the Indenture, no Holder
of any Security  will have any right to institute  any  proceeding,  judicial or
otherwise,  with respect to the Indenture or for any remedy  thereunder,  unless
(1) such Holder shall have  previously  given to the Trustee written notice of a
continuing  Event of Default with respect to the Securities,  (2) the Holders of
not less than 25% in aggregate  principal  amount of the outstanding  securities
shall have made  written  request,  and  offered  reasonable  indemnity,  to the
Trustee to institute such proceeding as trustee,  (3) the Trustee shall not have
received  from the Holders of a majority in  aggregate  principal  amount of the
outstanding  securities a direction  inconsistent  with such request and (4) the
Trustee shall have failed to institute such proceeding within 60 days; provided,
however,  that such  limitations do not apply to a suit instituted by the Holder
hereof for the  enforcement  of payment of the  principal  of or any interest on
this Security on or after the respective due dates expressed herein.

     No reference  herein to the  Indenture and no provision of this Security or
of the  Indenture  shall  alter or impair  the  obligation  of the Issuer or the
Guarantor,  as  applicable,  which is  absolute  and  unconditional,  to pay the
principal of and interest on this Security,  as described on the face hereof, at
the times, place and rate, and in the coin or currency, herein prescribed.

     The  Securities  are  issuable  only  in  fully  registered  form  and  are
represented either by one or more global certificates  registered in the name of
a depositary or in the name of its nominee or by a certificate  or  certificates
registered in the name of the beneficial  owner(s) of such  Securities or its or
their  nominee(s).  The Securities are issuable in  denominations  of $1,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and
subject  to  certain   limitations   therein  set  forth,   the  Securities  are
exchangeable  for a like  aggregate  principal  amount of Securities and of like
tenor of any authorized  denomination,  as requested by the Holder  surrendering
the same.

     As provided in the Indenture and subject to certain  limitations  set forth
in the Indenture or this Security,  the transfer of this Security is registrable
in the security  register,  upon surrender of this Security for  registration of
transfer or exchange at the office or agency of the  Security  registrar  or any
successor  or  co-registrar  in  New  York,  New  York,  duly  endorsed  by,  or
accompanied  by a written  instrument  of transfer in form  satisfactory  to the
Issuer and the Trustee duly  executed by, the Holder hereof or his attorney duly
authorized in writing,  and thereupon one or more new  Securities of like tenor,
of authorized  denominations and for the same aggregate principal amount will be
issued to the designated transferee or transferees.

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

     Subject to the terms of the  Indenture,  prior to due  presentment  of this
Security for registration of transfer,  the Issuer,  the Guarantor,  the Trustee
and any agent of the Issuer,  the  Guarantor or the Trustee may treat the Person
in whose name this  Security is registered as the owner hereof for all purposes,
whether or not this Security is overdue,  and none of the Issuer, the Guarantor,
the Trustee or any such agent shall be affected by notice to the contrary.

                                       A-11
<PAGE>

     The Indenture contains  provisions for defeasance at any time of the entire
indebtedness of this Security or of certain restrictive  covenants and Events of
Default with respect to this Security, in each case upon compliance with certain
conditions set forth in the Indenture.

     In the case of any conflict between the provisions of this Security and the
Indenture, the provisions of the Indenture shall control.

     THIS  SECURITY,  INDENTURE  AND THE  GUARANTEES  SHALL BE  GOVERNED  BY AND
CONSTRUED IN ACCORDANCE  WITH THE LAWS OF THE STATE OF NEW YORK,  WITHOUT GIVING
EFFECT TO APPLICABLE  PRINCIPLES OF CONFLICT OF LAWS TO THE EXTENT THAT THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     All  capitalized  terms  used but not  defined in this  Security  which are
defined  in the  Indenture  shall  have  the  meanings  assigned  to them in the
Indenture.

     As provided in the  Indenture,  no recourse  under or upon any  obligation,
covenant or agreement  contained in the  Indenture,  the  Guarantees  or in this
Security, or because of any indebtedness  evidenced hereby, shall be had against
any incorporator,  as such, or against any past, present or future  stockholder,
officer,  director or  employee,  as such,  of the Issuer or the  Guarantor,  as
applicable,  or of any successor,  either  directly or through the Issuer or the
Guarantor,  as applicable,  or any successor,  under any rule of law, statute or
constitutional provision or by the enforcement of any assessment or by any legal
or equitable  proceeding or otherwise,  all such liability  being, by acceptance
hereof.

                                       A-12
<PAGE>

                               FORM OF ASSIGNMENT

ABBREVIATIONS

     Customary abbreviations may be used in the name of a Holder or an assignee,
such as TEN COM (=tenants in common),  TEN ENT (=tenants by the entireties),  JT
TEN (=joint tenants with rights of  survivorship  and not as tenants in common),
CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     Additional abbreviations may also be used though not in the above list.

                           --------------------------

               FOR VALUE RECEIVED, the undersigned hereby sell(s),
                         assign(s) and transfer(s) unto

                           --------------------------

                        Please insert Social Security or
                      other identifying number of assignee

PLEASE  PRINT OR  TYPEWRITE  NAME AND  ADDRESS,  INCLUDING  POSTAL ZIP CODE,  OF
ASSIGNEE

________________________________

________________________________

________________________________

________________________________

the within Security and all rights thereunder,  hereby irrevocably  constituting
and  appointing  __________________________________,  attorney to transfer  said
Security  on the books of the  Issuer,  with full power of  substitution  in the
premises.

                                             Dated:

                                             Notice:  The  signature(s)  to this
                                             assignment must correspond with the
                                             name(s)  as  written on the face of
                                             the  within   instrument  in  every
                                             particular,  without  alteration or
                                             enlargement,    or    any    change
                                             whatsoever.

                                       A-13
<PAGE>

                     [THE FOLLOWING PROVISION TO BE INCLUDED
             ON ALL CERTIFICATES BEARING A PRIVATE PLACEMENT LEGEND]

     In  connection  with  any  transfer  of this  Security  occurring  prior to
____________, _____, the undersigned confirms that without utilizing any general
solicitation or general advertising that:

                                    Check One

     (a) this Security is being  transferred  in  compliance  with the exemption
from registration  under the Securities Act of 1933, as amended (the "Securities
Act"),  provided by Rule 144A thereunder and the certificate attached hereto has
been completed. [ ]

          (a) this Security is being transferred in compliance with Regulation S
     under the  Securities  Act and a certificate  in the form  specified by the
     Indenture is being furnished herewith. [ ]

          (b)  this  Security  is  being  transferred  in  compliance  with  the
     exemption from  registration  under the Securities Act provided by Rule 144
     thereunder. [ ]

          (c) this Security is being transferred to the Issuer or the Guarantor.
     [ ]

                                       or

          (d) this Security is being  transferred  other than in accordance with
     (a), (b) or (d) above,  and documents are being furnished which comply with
     the  conditions of transfer set forth in this  Security and the  Indenture.
     [ ]

     If none of the foregoing  boxes is checked,  the Trustee or other registrar
shall not be obligated to register this Security in the name of any Person other
than the Holder hereof  unless and until the  conditions to any such transfer of
registration set forth herein and in the Indenture shall have been satisfied.

Date:____________________

                                             ___________________________________
                                             NOTICE:   The   signature  to  this
                                             assignment must correspond with the
                                             name as  written  upon  the face of
                                             the within-mentioned  instrument in
                                             every      particular,      without
                                             alteration     or    any     change
                                             whatsoever.

Signature Guarantee: _______________________________

     Signatures  must  be  guaranteed  by an  "eligible  guarantor  institution"
meeting the requirements of the registrar, which requirements include membership
or participation in the Security  Transfer Agent Medallion  Program ("STAMP") or
such other "signature  guarantee  program" as may be determined by the registrar
in addition  to, or in  substitution  for,  STAMP,  all in  accordance  with the
Securities Exchange Act of 1934, as amended.

                                       A-14
<PAGE>

              TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Security
for its own  account  or an account  with  respect  to which it  exercises  sole
investment  discretion  and  that  it  and  any  such  account  is a  "qualified
institutional  buyer" within the meaning of Rule 144A under the  Securities  Act
and is aware  that the sale to it is being  made in  reliance  on Rule  144A and
acknowledges  that it has received such information  regarding the Issuer as the
undersigned has requested pursuant to Rule 144A or has determined not to request
such  information  and that it is aware that the  transferor is relying upon the
undersigned's  foregoing  representations  in order to claim the exemption  from
registration provided by Rule 144A.

Dated:____________________
                                         ______________________________________
                                         To be executed by an executive officer

                                       A-15
<PAGE>

           SCHEDULE OF INCREASES OR DECREASES IN THE PRINCIPAL AMOUNT
                                OF THIS SECURITY

     The     original     principal     amount    of    this     Security     is
____________________________ ($__________). The following increases or decreases
in the principal amount of this Security have been made:

<TABLE>
<CAPTION>
<S>                  <C>                      <C>                   <C>                       <C>
                          Amount of              Amount of           Principal amount         Signature of
                         decrease in            increase in               of this              authorized
  Date of             principal amount        principal amount      Security following        signatory of
increase or                of this                of this              such decrease           Trustee or
  decrease                Security                Security             (or increase)           Depositary
-------------------------------------------------------------------------------------------------------------

</TABLE>

                                       A-16
<PAGE>

                                                                       EXHIBIT B

      [Form of Certificate to be Delivered in Connection with Exchanges of
               Regulation S Securities for Rule 144A Securities]

SYSCO International, Co.,
c/o Wachovia Bank, National Association, Trustee
[Address of Trustee]

   Re:  SYSCO International, Co.
        ___% Notes due ______ (the "Notes")
        Issued under the Indenture (the "Indenture") dated as
        of  ___________________, 2002

     This is to certify that, based solely on certifications we have received in
writing, by tested telex or by electronic transmission from member organizations
("Member Organizations") appearing in our records as persons being entitled to a
portion of the principal amount of Notes  represented by the Temporary  Offshore
Global Security issued under the above-referenced  Indenture and being submitted
herewith for exchange,  that as of the date hereof,  $____  principal  amount of
Notes  represented by the Temporary  Offshore  Global  Security being  submitted
herewith  for  exchange  is  beneficially  owned by  persons  who are either (i)
non-U.S.  persons (within the meaning of Regulation S under the U.S.  Securities
Act of 1933,  as  amended  (the  "Securities  Act"),  or (ii) U.S.  persons  who
purchased the Notes in a transaction that did not require registration under the
Securities Act. We further  certify that (i) we are not submitting  herewith for
exchange any portion of such Temporary Offshore Global Security excepted in such
Member  Organization  certifications  and (ii) as of the date hereof we have not
received any  notification  from any Member  Organization to the effect that the
statements made by such Member  Organization with respect to any portion of such
Temporary Offshore Global Security submitted herewith for exchange are no longer
true and  cannot  be relied  upon as of the date  hereof.  Accordingly,  you are
hereby  requested to (i) exchange  $______ of such  beneficial  interest held by
non-U.S.  persons in the Temporary  Offshore  Global  Security for an equivalent
beneficial  interest in a Permanent  Offshore  Global Security and (ii) transfer
$________ of such  beneficial  interest  held by U.S.  persons in the  Temporary
Offshore  Global  Security  into an equivalent  beneficial  interest in the U.S.
Global Security.

                                       B-1
<PAGE>

     You are  entitled  to  rely  upon  this  Certificate  and  are  irrevocably
authorized to produce this  Certificate or a copy hereof to any interested party
in any  administrative  or legal  proceeding or official inquiry with respect to
the matters covered hereby.

Yours faithfully,
                                     [EUROCLEAR BANK S.A./N.V., as operator
                                     of the Euroclear System]

                                             OR

                                     [CLEARSTREAM BANK, societe anonyme]

                                     By
                                       -----------------------------------------
                                       Name:
                                       Title:
Date:________________

                                       B-2
<PAGE>

                                                                       EXHIBIT C

                      [Form of Certificate to be Delivered
                          in Connection with Transfers
                            Pursuant to Regulation S]

____________,____

SYSCO International, Co.
c/o Wachovia Bank, National Association, Trustee

[Address of Trustee]

         Re:   SYSCO International, Co.
               ______% Notes due  ____________ (the "Notes")

Dear Sirs:

     In connection with our proposed sale of U.S.$________  aggregate  principal
amount of the Notes, we confirm that such sale has been effected pursuant to and
in  accordance  with  Regulation  S under the U.S.  Securities  Act of 1933,  as
amended (the "Securities Act"), and, accordingly, we represent that:

     o    the offer of the Notes was not made to a person in the United States;

     o    at the time the buy order was  originated,  the transferee was outside
          the United States or we and any person acting on our behalf reasonably
          believed that the transferee was outside the United States;

     o    no directed  selling efforts have been made by us in the United States
          in  contravention of the requirements of Rule 903(b) or Rule 904(b) of
          Regulation S under the Securities Act, as applicable; and

     o    the  transaction  is not  part  of a  plan  or  scheme  to  evade  the
          registration requirements of the Securities Act.

                                       C-1
<PAGE>

     You 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.  Terms used in this  certificate  have the meanings set
forth in Regulation S under the Securities Act.

                                   Very truly yours,

                                   [Name of Transferor]

                                   By:
                                       -----------------------------------------
                                        Authorized Signatory

                                       C-2
<PAGE>

                                                                       EXHIBIT D

                  [FORM OF TRANSFEREE LETTER OF REPRESENTATION]

SYSCO International, Co.
c/o Wachovia Bank, National Association
[address]
New York, NY [zip code]

Dear Sirs:

This  certificate  is  delivered  to  request  a  transfer  of $  ______________
principal  amount of the _____%  Senior Notes Due  ___________  (the "Notes") of
SYSCO International, Co. (the "Company").

Upon  transfer,  the Notes would be registered in the name of the new beneficial
owner as follows:

Name:

Address:

Taxpayer ID Number:

The undersigned represents and warrants to you that:

     (1) We are an  institutional  "accredited  investor"  (as  defined  in Rule
501(a)(1),  (2), (3) or (7) of Regulation D under the Securities Act of 1933, as
amended  (the  "Securities  Act"))  purchasing  for our own  account  or for the
account  of  such an  institutional  "accredited  investor"  at  least  $250,000
principal  amount of the Notes,  and we are  acquiring the Notes not with a view
to, or for offer or sale in connection  with, any  distribution  in violation of
the  Securities  Act. We have such  knowledge  and  experience  in financial and
business  matters  as to be  capable  of  evaluating  the merits and risk of our
investment in the Notes and we invest in or purchase  securities  similar to the
Notes in the normal course of our business. We and any accounts for which we are
acting are each able to bear the economic risk of our or its investment.

     (2) We understand and  acknowledge  that the Notes have not been registered
under the Securities Act or any other  applicable  securities law and, unless so
registered,  may not be sold except as permitted in the following  sentence.  We
agree on our own behalf and on behalf of any  investor  account for which we are
purchasing  Notes to offer,  sell or otherwise  transfer such Notes prior to the
date which is two years  after the later of the date or  original  issue and the
last date on which the Company or any  affiliate of the Company was the owner of
such Notes (or any  predecessor  thereto) (the "Resale  Restriction  Termination
Date") only (a) to the Company or the Guarantor,  (b) pursuant to a registration
statement  which has been declared  effective under the Securities Act, (c) in a
transaction  complying with the  requirements  of Rule 144A under the Securities
Act  ("rule  144A"),   to  a  person  we  reasonably   believe  is  a  qualified
institutional  buyer  under  Rule 144A (a  "QIB"),  that  purchases  for its own
account  or for the  account  of a QIB and to whom  notice  is  given  that  the

                                       D-1
<PAGE>

transfer  is being made in  reliance  on Rule 144A,  (d)  pursuant to offers and
sales that occur  outside the United  States  within the meaning of Regulation S
under the Securities Act, (e) to an institutional  "accredited investor" (within
the meaning Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act)  that is  purchasing  for its own  account  or for the  account  of such an
institutional  "accredited  investor" in each case in a minimum principal amount
of Notes of $250,000 or (f) pursuant to any other  available  exemption from the
registration  requirements  of  the  Securities  Act,  subject  in  each  of the
foregoing  cases to any  requirement of law that the disposition of our property
or the property of such investor  account or accounts be at all times within our
or their control and in compliance with any applicable  state  securities  laws.
The  foregoing  restrictions  on resale will not apply  subsequent to the Resale
Restriction  Termination  Date. If any resale or other  transfer of the Notes is
proposed to be made pursuant to clause (e) above prior to the Resale Restriction
Termination  Date,  the  transferor  shall deliver a letter from the  transferee
substantially  in the form of this letter to the Company and the Trustee,  which
shall  provide,  among other things,  that the  transferee  is an  institutional
"accredited investor" (within the meaning of Rule 501(a)(1),  (2), (3) or (7) of
Regulation  D under  the  Securities  Act)  that is  acquiring  such  notes  for
investment purposes and not for distribution in violation of the Securities Act.
We acknowledge  that the Company and the Trustee  reserve the right prior to any
offer,  sale or other  transfer  of the Notes  prior to the  Resale  Restriction
Termination  Date  pursuant  to  clause  (d),  (e) or (f) above to  require  the
delivery  of an opinion of  counsel,  certifications  and/or  other  information
satisfactory to the Company and the Trustee.

     (3) You are  entitled  to rely upon  this  letter  and you are  irrevocably
authorized  to produce  this letter or a copy of this  letter to any  interested
party in any administrative or legal proceeding or official inquiry with respect
to the matters covered in this letter.

     (4) This letter shall be governed by and construed in  accordance  with the
laws of the State of New York, without giving effect to applicable principles of
conflicts  of laws to the  extent  the  laws of  another  jurisdiction  would be
required thereby.

                                Transferee:

                                By:
                                   ---------------------------------------------

                                       D-2

1501328v1EXHIBIT 4.2

                          REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT dated May 23, 2002 (this "Agreement") is
entered  into by and among  SYSCO  International,  Co., an  unlimited  liability
company organized under the laws of Nova Scotia,  Canada (the "Company"),  SYSCO
Corporation,  a Delaware  corporation  of which the  Company  is a wholly  owned
subsidiary (the  "Guarantor"),  and J.P. Morgan  Securities  Inc., TD Securities
(USA) Inc., First Union Securities,  Inc., Banc of America Securities LLC, Wells
Fargo  Brokerage  Services,   LLC,  Merrill  Lynch,   Pierce,   Fenner  &  Smith
Incorporated, SunTrust Capital Markets, Inc., and Tokyo-Mitsubishi International
plc (the "Initial Purchasers").

     The Company,  the Guarantor and the Initial  Purchasers  are parties to the
Purchase Agreement dated May 20, 2002 (the "Purchase Agreement"), which provides
for the sale by the Company to the Initial Purchasers of $200,000,000  aggregate
principal   amount  of  the   Company's   6.10%   Senior  Notes  due  2012  (the
"Securities"),  which will be guaranteed on a senior  unsecured  basis as to the
payment of  principal,  premium,  if any, and interest by the  Guarantor.  As an
inducement to the Initial Purchasers to enter into the Purchase  Agreement,  the
Company and the Guarantor  have agreed to provide to the Initial  Purchasers and
their direct and indirect  transferees the registration rights set forth in this
Agreement.  The execution  and delivery of this  Agreement is a condition to the
closing under the Purchase Agreement.

     In consideration of the foregoing, the parties hereto agree as follows:

     1. Definitions.  As used in this Agreement,  the following terms shall have
the following respective meanings:

     "Business  Day" shall mean any day that is not a Saturday,  Sunday or other
day on which commercial banks in New York City are authorized or required by law
to remain closed.

     "Closing  Date"  shall mean the  Closing  Date as  defined in the  Purchase
Agreement.

     "Company"  shall  have  the  meaning  set  forth  in the  preamble  to this
Agreement and shall also include the Company's successors.

     "Consummated"  shall mean,  for purposes of this Agreement and the Exchange
Offer,  upon the latest to occur of (i) the  effectiveness  under the Securities
Act of the Exchange Offer Registration  Statement,  (ii) the maintenance of such
Registration  Statement  continuously  effective and the keeping of the Exchange
Offer open for a period not less than the minimum  period  required  pursuant to
Section 2(a) hereof and (iii) the delivery by the Company to the registrar under

<PAGE>

the Indenture of Exchange  Securities in the same aggregate  principal amount as
the aggregate  principal amount of Registrable  Securities that were tendered by
Holders thereof pursuant to the Exchange Offer.

     "Exchange Act" shall mean the  Securities  Exchange Act of 1934, as amended
from time to time.

     "Exchange  Dates"  shall have the  meaning  set forth in  Section  2(a)(ii)
hereof.

     "Exchange  Offer"  shall mean the  exchange  offer by the  Company  and the
Guarantor of Exchange Securities for Registrable  Securities pursuant to Section
2(a) hereof.

     "Exchange  Offer   Registration"   shall  mean  a  registration  under  the
Securities Act effected pursuant to Section 2(a) hereof.

     "Exchange  Offer  Registration  Statement"  shall  mean an  exchange  offer
registration  statement on Form S-4 (or, if applicable,  on another  appropriate
form) and all amendments and supplements to such registration statement, in each
case including the Prospectus  contained  therein,  all exhibits thereto and any
document incorporated by reference therein.

     "Exchange  Securities"  shall mean senior  notes  issued by the Company and
guaranteed by the Guarantor  under the Indenture  containing  terms identical to
the  Securities  (except  that the  Exchange  Securities  will not be subject to
restrictions  on transfer or to any increase in annual interest rate for failure
to comply with this  Agreement)  and to be offered to Holders of  Securities  in
exchange for Securities pursuant to the Exchange Offer.

     "Guarantor"  shall  have the  meaning  set  forth in the  preamble  to this
Agreement and shall also include the Guarantor's successors.

     "Holders"  shall mean the Initial  Purchasers,  for so long as they own any
Registrable  Securities,  and each of their  successors,  assigns and direct and
indirect  transferees  who  acquire  Registrable  Securities  from time to time;
provided  that for  purposes  of  Sections 7 and 9 of this  Agreement,  the term
"Holders" shall include Participating Broker-Dealers.

     "Initial  Purchasers"  shall have the meaning set forth in the  preamble to
this Agreement.

     "Indenture" shall mean the Indenture relating to the Securities dated as of
May 23, 2002 among the  Company,  the  Guarantor  and  Wachovia  Bank,  National
Association,  as  trustee,  and as the same may be amended  from time to time in
accordance with the terms thereof.

                                       2
<PAGE>

     "Majority  Holders"  shall mean the Holders of a majority of the  aggregate
principal amount of outstanding Registrable  Securities;  provided that whenever
the  consent or approval of Holders of a  specified  percentage  of  Registrable
Securities  is required  hereunder,  Registrable  Securities  owned  directly or
indirectly  by the  Company  or any of its  affiliates  shall not be  counted in
determining  whether  such  consent or approval was given by the Holders of such
required percentage or amount.

     "NASD" shall mean the National Association of Securities Dealers, Inc.

     "Participating  Broker-Dealers" shall have the meaning set forth in Section
7(a) hereof.

     "Person" shall mean an individual,  partnership, limited liability company,
corporation,  trust or unincorporated organization, or a government or agency or
political subdivision thereof.

     "Purchase  Agreement"  shall have the meaning set forth in the  preamble to
this Agreement.

     "Prospectus"   shall  mean  the  prospectus   included  in  a  Registration
Statement,  including any  preliminary  prospectus,  and any such  prospectus as
amended or  supplemented  by any prospectus  supplement,  including a prospectus
supplement  with  respect  to the terms of the  offering  of any  portion of the
Registrable  Securities  covered by a Shelf Registration  Statement,  and by all
other amendments and supplements to such prospectus,  and in each case including
any document incorporated by reference therein.

     "Registrable  Securities"  shall  mean the  Securities;  provided  that the
Securities  shall cease to be  Registrable  Securities  when: (i) a Registration
Statement with respect to such Securities has been declared  effective under the
Securities Act and such  Securities  have been exchanged or disposed of pursuant
to such  Registration  Statement;  (ii) such  Securities are eligible to be sold
pursuant to Rule 144(k) (or any similar  provision  then in force,  but not Rule
144A)  under  the  Securities  Act;  or  (iii)  such  Securities   cease  to  be
outstanding.

     "Registration  Expenses"  shall  mean  any and  all  expenses  incident  to
performance  of or compliance by the Company and the Guarantor with the terms of
this Agreement,  including  without  limitation:  (i) all SEC, stock exchange or
NASD  registration  and filing  fees,  (ii) all fees and  expenses  incurred  in
connection  with  compliance  with state  securities or blue sky laws (including
reasonable fees and  disbursements of counsel for any Underwriters or Holders in
connection with blue sky qualification of any Exchange Securities or Registrable
Securities),  (iii) all  expenses of any Persons in  preparing  or  assisting in
preparing,   word   processing,   printing  and  distributing  any  Registration
Statement,  any  Prospectus  and any  amendments  or  supplements  thereto,  any
underwriting agreements, securities sales agreements or other similar agreements
and any other documents  relating to the performance of and compliance with this
Agreement,  (iv) all rating agency fees, (v) all fees and disbursements relating

                                       3
<PAGE>

to the qualification of the Indenture under applicable securities laws, (vi) the
fees and  disbursements  of the  Trustee  and its  counsel,  (vii)  the fees and
disbursements of counsel for the Company and the Guarantor and, in the case of a
Shelf Registration Statement,  the fees and disbursements of one counsel for the
Holders  (which  counsel  shall be  selected by the  Majority  Holders and which
counsel may also be counsel for the Initial  Purchasers) and (viii) the fees and
disbursements  of the  independent  public  accountants  of the  Company and the
Guarantor,  including  the expenses of any special  audits or "comfort"  letters
required  by or  incident  to  the  performance  of  and  compliance  with  this
Agreement, but excluding fees and expenses of counsel to the Underwriters (other
than fees and  expenses  set  forth in clause  (ii)  above) or the  Holders  and
underwriting  discounts and commissions and transfer taxes, if any,  relating to
the sale or disposition of Registrable Securities by a Holder.

     "Registration  Statement"  shall  mean any  registration  statement  of the
Company  and  the  Guarantor  that  covers  any of the  Exchange  Securities  or
Registrable  Securities  pursuant to the  provisions  of this  Agreement and all
amendments  and  supplements  to  any  such  registration  statement,  including
post-effective  amendments,  in each case  including  the  Prospectus  contained
therein,  all  exhibits  thereto  and any  document  incorporated  by  reference
therein.

     "SEC" shall mean the U.S. Securities and Exchange Commission.

     "Securities"  shall  have the  meaning  set forth in the  preamble  to this
Agreement.

     "Securities  Act" shall mean the  Securities  Act of 1933,  as amended from
time to time.

     "Shelf Registration" shall mean a registration effected pursuant to Section
2(b) hereof.

     "Shelf Registration  Statement" shall mean a "shelf" registration statement
of the Company and the Guarantor that covers all the Registrable Securities (but
no other securities unless approved by the Holders whose Registrable  Securities
are to be covered by such Shelf  Registration  Statement) on an appropriate form
under Rule 415 under the Securities Act, or any similar rule that may be adopted
by the SEC, and all amendments and supplements to such  registration  statement,
including  post-effective  amendments,  in each case  including  the  Prospectus
contained  therein,  all  exhibits  thereto  and any  document  incorporated  by
reference therein.

                                       4
<PAGE>

     "Trust  Indenture  Act"  shall  mean the Trust  Indenture  Act of 1939,  as
amended from time to time.

     "Trustee"  shall mean the trustee with respect to the Securities  under the
Indenture.

     "Underwriter" shall have the meaning set forth in Section 5 hereof.

     "Underwritten  Offering"  shall  mean  an  offering  in  which  Registrable
Securities are sold to an Underwriter for reoffering to the public.

     2. Registration Under the Securities Act.

     (a)  Registered  Exchange  Offer.  Except as set forth in Section 2(b), the
Company and the  Guarantor  agree to file under the  Securities  Act, as soon as
practicable  but in no  event  later  than 90 days  after  the  Closing  Date an
Exchange  Offer  Registration  Statement  covering  an offer to the  Holders  to
exchange all the Registrable Securities for Exchange Securities. The Company and
the  Guarantor  agree to use their  best  efforts  to cause the  Exchange  Offer
Registration  Statement to be declared effective by the SEC under the Securities
Act as soon as  practicable,  but no later than 180 days after the Closing Date.
The Company and the  Guarantor  further agree to use their best efforts to cause
the Exchange Offer to be Consummated promptly,  but no later than 210 days after
the Closing Date, hold the Exchange Offer open for at least 20 Business Days and
exchange  Exchange  Securities  for all  Registrable  Securities  that have been
properly  tendered  and not  withdrawn  on or  prior  to the  expiration  of the
Exchange Offer.

     The Company and the Guarantor  shall commence the Exchange Offer by mailing
the  related   Prospectus,   appropriate   letters  of  transmittal   and  other
accompanying  documents  to each  Holder  stating,  in  addition  to such  other
disclosures as are required by applicable law:

(i)  that the Exchange  Offer is being made pursuant to this  Agreement and that
     all Registrable Securities validly tendered and not properly withdrawn will
     be accepted for exchange;

(ii) the dates of acceptance  for exchange  (which shall begin no sooner than 20
     Business Days after the date such notice is mailed) (the "Exchange Dates");

(iii)that any  Registrable  Security not tendered  will remain  outstanding  and
     continue  to accrue  interest  but will not retain  any  rights  under this
     Agreement;

(iv) that any Holder electing to have a Registrable  Security exchanged pursuant
     to the  Exchange  Offer will be  required  to  surrender  such  Registrable
     Security,  together with the  appropriate  letters of  transmittal,  to the

                                       5
<PAGE>

     institution  and at the address  (located in the Borough of Manhattan,  The
     City of New York) and in the manner  specified in the notice,  prior to the
     close of business on the last Exchange Date; and

(v)  that any Holder will be entitled to withdraw its  election,  not later than
     the  close of  business  on the  last  Exchange  Date,  by  sending  to the
     institution  and at the address  (located in the Borough of Manhattan,  The
     City of New York)  specified in the notice,  a telegram,  telex,  facsimile
     transmission or letter setting forth the name of such Holder, the principal
     amount of  Registrable  Securities  delivered  for exchange and a statement
     that such  Holder  is  withdrawing  its  election  to have such  Securities
     exchanged.

     As a condition to  participating  in the Exchange  Offer,  a Holder will be
required to  represent  to the Company and the  Guarantor  that (i) any Exchange
Securities  to be received by it will be acquired in the ordinary  course of its
business,  (ii) at the time of the  commencement of the Exchange Offer it has no
arrangement or understanding  with any Person to participate in the distribution
(within  the  meaning  of the  Securities  Act) of the  Exchange  Securities  in
violation  of  the  provisions  of  the  Securities  Act,  (iii)  it is  not  an
"affiliate" (within the meaning of Rule 405 under Securities Act) of the Company
or the  Guarantor and (iv) if such Holder is a  broker-dealer  that will receive
Exchange  Securities for its own account in exchange for Registrable  Securities
that were acquired as a result of  market-making  or other  trading  activities,
then such Holder will deliver a Prospectus in connection with any resale of such
Exchange Securities.

     As soon as  practicable  after the last Exchange  Date, the Company and the
Guarantor shall:

(i)  accept for exchange  Registrable  Securities  or portions  thereof  validly
     tendered and not properly withdrawn pursuant to the Exchange Offer; and

(ii) deliver,  or cause to be  delivered,  to the Trustee for  cancellation  all
     Registrable  Securities or portions thereof so accepted for exchange by the
     Company  and issue,  and cause the  Trustee to  promptly  authenticate  and
     deliver to each Holder,  Exchange  Securities  equal in principal amount to
     the principal  amount of the  Registrable  Securities  surrendered  by such
     Holder.

     The Company and the  Guarantor  shall use their best efforts to  Consummate
the  Exchange  Offer as  provided  above and shall  comply  with the  applicable
requirements  of the Securities  Act, the Exchange Act and all other  applicable
laws and regulations in connection  with the Exchange Offer.  The Exchange Offer
shall not be subject to any conditions,  other than that the Exchange Offer does
not violate any applicable law or applicable interpretations of the Staff of the
SEC.

                                       6
<PAGE>

     (b) Shelf  Registration.  In the event that (i) on or prior to the time the
Exchange  Offer is  Consummated,  the Company or the Guarantor  determines  that
existing  SEC  interpretations  are changed  such that the  Exchange  Securities
received by Holders in the Exchange Offer are not or would not be, upon receipt,
transferable by each such Holder without  restriction  under the Securities Act,
(ii) the Exchange Offer has not been  Consummated  within 210 days following the
Closing Date,  (iii) the Exchange Offer has been  Consummated and in the opinion
of counsel for the Initial Purchasers a Registration Statement must be filed and
a Prospectus must be delivered by the Initial  Purchasers in connection with any
offering or sale of Registrable  Securities  (other than Registrable  Securities
held by  Holders  described  in  Section  7),  or  (iv)  any  applicable  law or
interpretations  do not permit any Holder to Participate in the Exchange  Offer,
the Company and the Guarantor shall, in lieu of (or, in the case of clause (iii)
of this sentence,  in addition to) conducting the Exchange Offer contemplated by
Section 2(a),  file as soon as  practicable  after such  determination,  date or
notice of such opinion of counsel is given to the Company and the Guarantor,  as
the case may be,  but no later than 45 days  after the time such  obligation  to
file arises, a Shelf  Registration  Statement  providing for the sale of all the
Registrable Securities by the Holders thereof and use their best efforts to have
such  Shelf  Registration  Statement  declared  effective  by the SEC  under the
Securities Act no later than 90 days after such Shelf Registration  Statement is
filed and to keep such Shelf Registration Statement continuously effective until
the expiration of the period referred to in Rule 144(k) under the Securities Act
with respect to the  Registrable  Securities  or such  shorter  period that will
terminate when all the Registrable Securities covered by such Shelf Registration
Statement  have been sold  pursuant to such Shelf  Registration  Statement.  The
Company  and the  Guarantor  further  agree to  supplement  or amend  the  Shelf
Registration  Statement  and the  related  Prospectus  if required by the rules,
regulations  or  instructions  applicable to the  registration  form used by the
Company for such Shelf Registration Statement or by the Securities Act or by any
other rules and regulations  thereunder for shelf  registration or if reasonably
requested by a Holder with respect to  information  relating to such Holder,  to
take any action reasonably necessary to enable such Holder to use the Prospectus
forming a part thereof for resales of Registrable Securities, including, without
limitation,   any  action  necessary  to  identify  such  Holder  as  a  selling
securityholder  in the  Shelf  Registration  Statement,  and to use  their  best
efforts to cause any such  amendment  to be declared  effective by the SEC under
the  Securities  Act and such Shelf  Registration  Statement  and  Prospectus to
become usable as soon as thereafter  practicable.  The Company and the Guarantor
agree to furnish  to the  Holders  copies of any such  supplement  or  amendment
promptly after its being used or filed with the SEC.

     (c)  Registration  Expenses.  The Company and the  Guarantor  shall pay all
Registration  Expenses in connection with the  registration  pursuant to Section
2(a) and Section 2(b) hereof.  Each Holder shall pay all underwriting  discounts
and commissions and transfer taxes, if any,  relating to the sale or disposition
of such  Holder's  Registrable  Securities  pursuant  to the Shelf  Registration
Statement.

                                       7
<PAGE>

     3. Additional Interest.

     (a) In the event that (i) the Company and the Guarantor  have not filed the
Exchange Offer Registration  Statement or Shelf Registration  Statement with the
SEC on or before the date on which such Registration Statement is required to be
so filed pursuant to Section 2(a) or 2(b),  respectively,  or (ii) such Exchange
Offer  Registration  Statement  or  Shelf  Registration  Statement  has not been
declared  effective by the SEC under the Securities Act on or before the date on
which such Registration Statement is required to be declared effective under the
Securities  Act  pursuant to Section  2(a) or 2(b),  respectively,  or (iii) the
Exchange Offer has not been  Consummated  within 210 days after the Closing Date
or  (iv)  the  Exchange  Offer  Registration  Statement  or  Shelf  Registration
Statement  required  by  Section  2(a) or 2(b)  hereof  is  filed  and  declared
effective by the SEC under the  Securities  Act but shall  thereafter  either be
withdrawn  by the  Company  or the  Guarantor  or  shall  become  subject  to an
effective  stop order  issued  pursuant to Section  8(d) of the  Securities  Act
suspending  the  effectiveness  of  such   Registration   Statement  (except  as
specifically   permitted  herein)  without  being  succeeded  immediately  by  a
post-effective  amendment  to  such  Registration  Statement  or  an  additional
Registration  Statement  filed  and  declared  effective  by the SEC  under  the
Securities  Act (each such event  referred  to in clauses  (i)  through  (iv) is
referred to herein as a  "Registration  Default" and each period  during which a
Registration  Default has occurred and is continuing until the Securities become
freely   tradable  under  the  Securities  Act  is  referred  to  herein  as,  a
"Registration  Default  Period"),  then  the  interest  rate on the  Registrable
Securities  will be increased by 0.25% per annum during the first 90 days of the
Registration Default Period, and by 0.50% per annum thereafter for the remaining
portion of the  Registration  Default Period.  The interest rate will not at any
time be increased by more than 0.50% per annum.  In addition,  the interest rate
on the  Registrable  Securities  will revert to the  interest  rate prior to any
increase pursuant to this Section 3(a) at such time as all Registration Defaults
are cured.

     (b) Without limiting the remedies  available to the Initial  Purchasers and
the Holders,  the Company and the Guarantor  acknowledge that any failure by the
Company or the Guarantor to comply with their obligations under Section 2(a) and
Section  2(b)  hereof may result in material  irreparable  injury to the Initial
Purchasers or the Holders for which there is no adequate  remedy at law, that it
will not be possible to measure damages for such injuries precisely and that, in
the event of any such failure,  the Initial  Purchasers or any Holder may obtain
such relief as may be required to  specifically  enforce the  Company's  and the
Guarantor's obligations under Section 2(a) and Section 2(b) hereof.

                                       8
<PAGE>

     4. Registration  Procedures.  In connection with their obligations pursuant
to Section 2(a) and Section 2(b) hereof,  the Company and the Guarantor shall as
expeditiously as possible:

     (a)  prepare  and  file  with  the  SEC a  Registration  Statement  on  the
appropriate  form under the Securities  Act, which form (i) shall be selected by
the Company and the Guarantor,  (ii) shall, in the case of a Shelf Registration,
be available for the sale of the  Registrable  Securities by the selling Holders
thereof  and (iii) shall  comply as to form in all  material  respects  with the
requirements  of the  applicable  form  and  include  all  financial  statements
required  under the  Securities  Act and the rules  and  regulations  of the SEC
thereunder  to be filed  therewith;  and use their  best  efforts  to cause such
Registration  Statement  to  become  effective  and  remain  effective  for  the
applicable period in accordance with Section 2 hereof;

     (b) a reasonable time prior to the filing with the SEC of any  Registration
Statement,  any  Prospectus,  any  amendment  to  a  Registration  Statement  or
amendment  or  supplement  to a  Prospectus  or of any  document  that  is to be
incorporated  by reference into a Registration  Statement or a Prospectus  after
initial filing of a Registration  Statement,  provide copies of such document to
the  Initial  Purchasers  and  their  counsel  (and,  in  the  case  of a  Shelf
Registration  Statement,  to the Holders and their counsel) and make such of the
representatives  of the  Company  and  the  Guarantor  as  shall  be  reasonably
requested by the Initial  Purchasers  or their  counsel  (and,  in the case of a
Shelf  Registration  Statement,  the  Holders or their  counsel)  available  for
discussion of such document;  and the Company and the Guarantor will not, at any
time after the initial  filing with the SEC of a  Registration  Statement,  file
with the SEC any  Prospectus,  any amendment of or supplement to a  Registration
Statement  or a  Prospectus,  or any  document  that  is to be  incorporated  by
reference  into a Registration  Statement or a Prospectus,  of which the Initial
Purchasers  and  their  counsel  (and,  in  the  case  of a  Shelf  Registration
Statement, the Holders and their counsel) shall not have previously been advised
and  furnished a copy or to which the Initial  Purchasers or their counsel (and,
in the case of a Shelf  Registration  Statement,  the Holders or their  counsel)
shall reasonably object;

     (c) in the  case  of a  Shelf  Registration,  furnish  to  each  Holder  of
Registrable  Securities,  to counsel for the Initial Purchasers,  to counsel for
such Holders and to each Underwriter of an Underwritten  Offering of Registrable
Securities, if any, without charge, as many copies of each Prospectus, including
each preliminary Prospectus, and any amendment or supplement thereto as they may
reasonably  request, in order to facilitate the sale or other disposition of the
Registrable Securities thereunder;  and the Company and the Guarantor consent to
the use of such Prospectus and any amendment or supplement thereto in accordance
with applicable law by each of the selling Holders and any such  Underwriters in
connection with the offering and sale of the Registrable  Securities  covered by
and in the manner  described in such  Prospectus  or any amendment or supplement
thereto;

                                       9
<PAGE>

     (d) in the case of a Shelf  Registration,  furnish to each Holder,  without
charge,  at least one  conformed  copy of each  Registration  Statement  and any
post-effective  amendment thereto (without any documents incorporated therein by
reference or exhibits thereto, unless requested);

     (e)  prior to the  filing of any  document  that is to be  incorporated  by
reference into a Registration Statement or a related Prospectus,  provide copies
of such document to the selling  Holders and to the  Underwriters,  if any, make
the  Company's  representatives  available  for  discussion of such document and
other  customary due diligence  matters,  and include such  information  in such
document prior to the filing thereof as such selling Holders or Underwriters, if
any,  reasonably  may  request,  in each case  during the period a  Registration
Statement is effective and prospectus delivery  requirements with respect to any
offers or sales thereunder are applicable;

     (f)  prepare  and  file  with the SEC such  amendments  and  post-effective
amendments  to each  Registration  Statement  as may be  necessary  to keep such
Registration  Statement  effective for the applicable  period in accordance with
Section 2 hereof and cause each  Prospectus to be  supplemented  by any required
prospectus supplement and, as so supplemented,  to be filed pursuant to Rule 424
under the  Securities  Act; and keep each  Prospectus  current during the period
described  in  Section  4(3) of and Rule 174  under the  Securities  Act that is
applicable to transactions by brokers or dealers with respect to the Registrable
Securities or Exchange Securities;

     (g) upon the  occurrence  of any  event  contemplated  by  Section  4(h)(v)
hereof,  use their best efforts to prepare and file with the SEC a supplement or
post-effective  amendment to a Registration  Statement or the related Prospectus
or any document  incorporated  therein by  reference or file any other  required
document so that,  as  thereafter  delivered to  purchasers  of the  Registrable
Securities,  such  Prospectus  will  conform  in all  material  respects  to the
applicable  requirements  of the Securities Act and the Trust  Indenture Act and
the rules and  regulations of the SEC and will not contain any untrue  statement
of a  material  fact or omit to  state a  material  fact  necessary  to make the
statements  therein,  in the light of the  circumstances  under  which they were
made, not misleading; and the Company and the Guarantor shall notify the Holders
to suspend  the use of the  Prospectus  as  promptly  as  practicable  after the
occurrence of such an event until the Company and the Guarantor  have amended or
supplemented the Prospectus to correct such misstatement or omission;

     (h) notify  each  Holder,  counsel  for such  Holders  and  counsel for the
Initial  Purchasers  promptly  and, if  requested by any such Holder or counsel,
confirm  such advice in writing  (i) when a  Registration  Statement  has become
effective  and when any  post-effective  amendment  thereto  has been  filed and
becomes  effective,  (ii)  of any  request  by the SEC or any  state  securities

                                       10
<PAGE>

authority  for  amendments  and  supplements  to a  Registration  Statement or a
related  Prospectus  or  for  additional   information  after  the  Registration
Statement  has become  effective,  (iii) of the issuance by the SEC or any state
securities  authority  of any  stop  order  suspending  the  effectiveness  of a
Registration  Statement or the initiation of any  proceedings  for that purpose,
(iv) if, between the effective date of a Registration  Statement and the closing
of any sale of securities covered thereby, the representations and warranties of
the Company or the  Guarantor  contained  in this  Agreement,  any  underwriting
agreement,  securities  sales  agreement  or other  similar  agreement,  if any,
relating to an offering  of such  securities  cease to be true and correct or if
the Company or the  Guarantor  receives  any  notification  with  respect to the
suspension of the  qualification of such securities for sale in any jurisdiction
or the initiation of any proceeding for such purpose,  (v) if at any time when a
Prospectus  is required to be  delivered  under the  Securities  Act,  that such
Registration  Statement,  Prospectus,  Prospectus  amendment  or  supplement  or
post-effective  amendment  does not  conform  in all  material  respects  to the
applicable  requirements  of the Securities Act and the Trust  Indenture Act and
the rules and regulations of the SEC thereunder or contains an untrue  statement
of a material  fact or omits to state any  material  fact  required to be stated
therein or necessary to make the  statements  therein not misleading and (vi) of
any  determination  by the  Company  or  the  Guarantor  that  a  post-effective
amendment to a Registration Statement would be appropriate;

     (i) use their best efforts to obtain the withdrawal of any order suspending
the  effectiveness of a Registration  Statement at the earliest  possible moment
and provide immediate notice to each Holder of the withdrawal of any such order;

     (j) in the case of a Shelf  Registration,  use their best  efforts  to: (A)
register  or qualify  the  Registrable  Securities  under all  applicable  state
securities or blue sky laws of such  jurisdictions  as any Holder of Registrable
Securities  covered by a Shelf  Registration  Statement or any Underwriter shall
reasonably  request  in writing by the time the  applicable  Shelf  Registration
Statement  is  declared  effective  by the SEC;  cooperate  with the  Holders in
connection  with any  filings  required  to be made  with  the  NASD  (including
retaining  any  "qualified  independent  underwriter"  that  is  required  to be
retained in accordance  with the rules and  regulations  of the NASD);  (B) keep
such  registrations or  qualifications in effect and comply with such laws so as
to permit  the  continuance  of  offers,  sales  and  dealings  therein  in such
jurisdictions during the period the Shelf Registration  Statement is required to
remain effective under Section 2(b) above and for so long as may be necessary to
enable any such Holder or Underwriter to complete its distribution of Securities
pursuant to such Shelf Registration Statement; and (C) do any and all other acts
and things that may be  reasonably  necessary or advisable to enable each Holder
to  complete  the  disposition  in each  such  jurisdiction  of the  Registrable

                                       11
<PAGE>

Securities  owned by such  Holder;  provided  that  neither  the Company nor the
Guarantor  shall be required to (i)  qualify as a foreign  corporation  or other
entity or as a dealer in securities in any such jurisdiction  where it would not
otherwise be required to so qualify, (ii) file any general consent to service of
process in any such jurisdiction or (iii) subject itself to taxation in any such
jurisdiction if it is not already so subject;

     (k) use their  best  efforts  to obtain the  consent  or  approval  of each
governmental agency or authority,  whether federal, state or local, which may be
required to effect the Exchange  Offer  Registration,  the Exchange Offer or the
Shelf  Registration,  as the case may be, or the offering or sale in  connection
therewith or to enable the Holders to offer,  or to consummate  the  disposition
of, their  Registrable  Securities or Participating  Broker-Dealers to offer and
sell Exchange Securities;

     (l) cause the  Indenture to be qualified  under the Trust  Indenture Act in
connection  with the  registration  of the Exchange  Securities  or  Registrable
Securities,  as the case may be;  cooperate  with the Trustee and the Holders to
effect such changes to the  Indenture as may be required for the Indenture to be
so  qualified  in  accordance  with the terms of the Trust  Indenture  Act;  and
execute,  and use their  best  efforts  to cause the  Trustee  to  execute,  all
documents  as may be  required  to effect  such  changes and all other forms and
documents  required  to be filed with the SEC to enable the  Indenture  to be so
qualified in a timely manner;

     (m) in the case of a Shelf Registration, make available for inspection by a
representative  of the Holders of the Registrable  Securities (an  "Inspector"),
any  Underwriter  participating  in  any  disposition  pursuant  to  such  Shelf
Registration Statement, and attorneys and accountants designated by the Holders,
at reasonable  times and in a reasonable  manner,  all  pertinent  financial and
other records,  documents and  properties of the Company and the Guarantor,  and
cause the  respective  officers,  directors and employees of the Company and the
Guarantor to supply all information  reasonably requested by any such Inspector,
Underwriter,  attorney or  accountant in  connection  with a Shelf  Registration
Statement;  provided  that each such party shall agree to maintain in confidence
and not to disclose to any other person any  information  or records  reasonably
designated  by the Company or the  Guarantor as being  confidential,  until such
time as (A) such  information  becomes  a matter of public  record  (whether  by
virtue of its inclusion in such  Registration  Statement or  otherwise),  or (B)
such person  shall be required so to  disclose  such  information  pursuant to a
subpoena  or order of any court or  arbitrator  or  governmental  or  regulatory
authority (subject to the requirements of such order, and only after such person
shall have given the Company prompt prior written  notice of such  requirement),
or (C) such  information is required to be set forth in such Shelf  Registration
Statement or the  Prospectus  included  therein or in an amendment to such Shelf

                                       12
<PAGE>

Registration Statement or an amendment or supplement to such Prospectus in order
that such Shelf Registration Statement,  Prospectus, amendment or supplement, as
the case may be, complies with applicable requirements of the federal securities
laws and the rules and  regulations  of the SEC and does not  contain  an untrue
statement of a material  fact or omit to state  therein a material fact required
to be stated therein or necessary to make the statements therein not misleading;

     (n) in the case of a Shelf Registration, cooperate with the selling Holders
of Registrable  Securities to facilitate the timely  preparation and delivery of
certificates  representing Registrable Securities to be sold and not bearing any
restrictive legends and enable such Registrable  Securities to be issued in such
denominations  and  registered  in such names  (consistent  with the  applicable
provisions of the Indenture) as the selling  Holders may  reasonably  request at
least  one  Business  Day  prior  to the  closing  of any  sale  of  Registrable
Securities;

     (o)  obtain a CUSIP  number  for all  Exchange  Securities  or  Registrable
Securities,  as the  case  may  be,  not  later  than  the  effective  date of a
Registration Statement;

     (p) comply with all applicable  rules and  regulations of the SEC, and make
generally available to holders of Securities as soon as practicable but no later
than eighteen  months after the effective date of a Registration  Statement,  an
earnings statement of the Guarantor and its subsidiaries  complying with Section
11(a) of the Securities Act (including, at the option of the Guarantor, Rule 158
thereunder).

     (q) in the case of a Shelf  Registration,  use their best  efforts to cause
all  Registrable  Securities  to be listed  on any  securities  exchange  or any
automated  quotation system on which similar  securities issued or guaranteed by
the  Company or the  Guarantor  are then  listed if  requested  by the  Majority
Holders,  to the extent such Registrable  Securities  satisfy applicable listing
requirements;

     (r) in the case of a Shelf  Registration,  if  requested  by any  Holder of
Registrable  Securities  covered  by a Shelf  Registration  Statement,  promptly
incorporate  in  a  Prospectus  supplement  or  post-effective   amendment  such
information with respect to such Holder as such Holder reasonably requests to be
included therein; and make all required filings of such Prospectus supplement or
such   post-effective   amendment   promptly  after  the  Company  has  received
notification of the matters to be incorporated in such filing; and

     (s)  in the  case  of a  Shelf  Registration,  enter  into  such  customary
agreements  and take all such other actions in connection  therewith  (including
those  requested  by the  Holders  of a  majority  in  principal  amount  of the
Registrable  Securities  being  sold) in order to  expedite  or  facilitate  the
disposition  of such  Registrable  Securities,  including,  but not  limited to,
customary  agreements  relating  to  an  Underwritten   Offering,  and  in  such
connection:

                                       13
<PAGE>

          (i) to the extent possible,  make such  representations and warranties
     to the Holders and any  Underwriters  of such  Registrable  Securities with
     respect  to  the  business  of  the  Company  and  its  subsidiaries,   the
     Registration Statement,  Prospectus and documents incorporated by reference
     or  deemed  incorporated  by  reference,  if any,  in each  case,  in form,
     substance and scope as are  customarily  made by issuers to underwriters in
     underwritten offerings and confirm the same if and when requested;

          (ii) obtain  opinions  of counsel to the  Company  and the  Guarantors
     (which  counsel  and  opinions,  in form,  scope  and  substance,  shall be
     reasonably  satisfactory  to the  Holders and such  Underwriters  and their
     respective  counsel)  addressed to each selling  Holder and  Underwriter of
     Registrable  Securities,   covering  the  matters  customarily  covered  in
     opinions requested in underwritten offerings;

          (iii) obtain "comfort"  letters from the independent  certified public
     accountants of the Company and the Guarantor (and, if necessary,  any other
     certified  public  accountant  of  any  subsidiary  of the  Company  or the
     Guarantor,  or of any business acquired by the Company or the Guarantor for
     which  financial  statements  and financial  data are or are required to be
     included  or  incorporated  by  reference  in the  Registration  Statement)
     addressed to each selling Holder and Underwriter of Registrable Securities,
     such  letters  to be in  customary  form and  covering  matters of the type
     customarily  covered in "comfort"  letters in connection with  underwritten
     offerings; and

          (iv) deliver such  documents  and  certificates  as may be  reasonably
     requested  by  the  Holders  of a  majority  in  principal  amount  of  the
     Registrable  Securities  being  sold or the  Underwriters,  and  which  are
     customarily delivered in underwritten  offerings, to evidence the continued
     validity  of the  representations  and  warranties  of the  Company and the
     Guarantor made pursuant to clause (i) above and to evidence compliance with
     any customary conditions contained in an underwriting agreement.

     In the case of a Shelf Registration Statement, the Company may require each
Holder to furnish to the Company such information  regarding such Holder and the
proposed disposition by such Holder of Registrable Securities as the Company and
the Guarantor may from time to time reasonably  request in writing.  Each Holder
agrees by acquisition of the Registrable  Securities to furnish  promptly to the
Company all  information  required  to be  disclosed  in the Shelf  Registration
Statement in order to make the information  previously  furnished to the Company
by such Holder for that purpose not materially  misleading or necessary to cause
the Shelf  Registration  Statement  not to omit a material  fact with respect to
such Holder  that is  necessary  in order to make the  statements  therein  with
respect to such Holder not misleading.

                                       14
<PAGE>

     In the  case of a Shelf  Registration  Statement,  each  Holder  agrees  by
acquisition of the Registrable  Securities that, upon receipt of any notice from
the  Company  and the  Guarantor  of the  happening  of any  event  of the  kind
described in Section  4(h)(iii) or 4(h)(v)  hereof,  such Holder will  forthwith
discontinue  disposition  of Registrable  Securities  pursuant to a Registration
Statement  until such  Holder's  receipt of the  copies of the  supplemented  or
amended  Prospectus  contemplated  by Section 4(g) hereof and, if so directed by
the Company and the  Guarantor,  such Holder will deliver to the Company and the
Guarantor all copies in its possession, other than permanent file copies then in
such Holder's possession, of the Prospectus covering such Registrable Securities
that is current at the time of receipt of such notice.

     If the Company and the Guarantor  shall give any such notice to suspend the
disposition of Registrable Securities pursuant to a Registration Statement,  the
Company and the Guarantor shall extend the period during which the  Registration
Statement shall be maintained effective pursuant to this Agreement by the number
of days  during the  period  from and  including  the date of the giving of such
notice to and including the date when the Holders shall have received  copies of
the supplemented or amended  Prospectus  necessary to resume such  dispositions.
The Company  and the  Guarantor  may give any such notice only twice  during any
365-day  period and each such  suspension  shall not extend for a period of more
than 45 days.

     5. Underwritten Registrations.  (a) Selection of Underwriters.  The Holders
of Registrable  Securities covered by a Shelf Registration  Statement who desire
to do so may sell such Registrable  Securities in an Underwritten  Offering.  In
any such Underwritten  Offering, the investment banker or investment bankers and
manager or managers (the  "Underwriters") that will administer the offering will
be selected by the Holders of a majority in principal  amount of the Registrable
Securities to be included in such offering.

     (b) Participation by Holders. No Holder may participate in any Underwritten
Offering  hereunder  unless  such  Holder  (i)  agrees  to sell his  Registrable
Securities on the basis provided in any  underwriting  arrangements  approved by
the Holders of a majority in principal  amount of the Registrable  Securities to
be included in such offering and (ii) completes and executes all questionnaires,
powers of  attorney,  underwriting  agreements  and other  documents  reasonably
required under the terms of such underwriting arrangements.

     6. Rule 144. The Company  covenants to the Holders  that,  in the event the
Exchange Offer is not completed within one year of the Closing Date, the Company
shall  disseminate  the  information  required to be disseminated by Rule 144(c)
adopted by the SEC under the Securities  Act, to the extent such  information is
reasonably available for such dissemination,  and shall take such further action
as any Holder may reasonably  request,  all to the extent  required from time to
time to enable such Holder to sell Registrable  Securities without  registration

                                       15
<PAGE>

under the  Securities Act within the  limitations  of the exemption  provided by
Rule 144 under the  Securities  Act,  as such Rule may be  amended  from time to
time, or any similar or successor  rule or regulation  hereafter  adopted by the
SEC.  Upon the  request  of any Holder in  connection  with that  Holder's  sale
pursuant  to Rule  144,  the  Company  shall  deliver  to such  Holder a written
statement as to whether it has complied with such requirements.

     7.  Participation of  Broker-Dealers in Exchange Offer. The Company and the
Guarantor shall indicate in a "Plan of  Distribution"  section  contained in the
Exchange  Offer   Registration   Statement  that  any  broker-dealer  who  holds
Registrable  Securities  that it  acquired  for its own  account  as a result of
market-making  activities or other trading  activities  (other than  Registrable
Securities acquired directly from the Company) (a "Participating Broker-Dealer")
may  exchange  such  Registrable  Securities  pursuant  to the  Exchange  Offer;
however,  a  Participating  Broker-Dealer  may be deemed to be an  "underwriter"
within  the  meaning  of the  Securities  Act and  must,  therefore,  deliver  a
prospectus meeting the requirements of the Act in connection with any resales of
the  Exchange  Securities  received  by a  Participating  Broker-Dealer  in  the
Exchange Offer,  which prospectus  delivery  requirement may be satisfied by the
delivery by a  Participating  Broker-Dealer  of the Prospectus  contained in the
Exchange Offer Registration Statement. Such "Plan of Distribution" section shall
also contain all other information with respect to such resales by Participating
Broker-Dealers that the SEC may require in order to permit such resales pursuant
thereto,  but  such  "Plan of  Distribution"  shall  not name any  Participating
Broker-Dealer  or  disclose  the  amount  of  Exchange  Securities  held  by any
Participating  Broker-Dealer  except to the extent required by the SEC. In light
of the above, and  notwithstanding  the other provisions of this Agreement,  the
Company  and  the  Guarantor   agree  (i)  to  include  in  the  Exchange  Offer
Registration  Statement a Prospectus for use in any resales by any Participating
Broker-Dealer  and  (ii) to keep  such  Exchange  Offer  Registration  Statement
effective  for a period of up to 180 days after the last  Exchange Date (as such
period may be extended  pursuant to the  penultimate  paragraph  of Section 4 of
this  Agreement),  if  requested  by the  Initial  Purchasers  or by one or more
Participating  Broker-Dealers.  The  Company  and the  Guarantor  shall  provide
sufficient  copies of the latest  version of such  Prospectus  to  Participating
Broker-Dealers  promptly  upon request at any time during such 180 day period in
order to facilitate such resales.

     (b) The Initial  Purchasers  shall have no liability  to the  Company,  the
Guarantor or any Holder with respect to any request that they may make  pursuant
to Section 7(a) above,  except for any such  liability they may have pursuant to
Section 9.

     8.  Representations  and Warranties.  The Company and the Guarantor jointly
and severally  represent and warrant to, and agree with, each Initial  Purchaser
and each of the Holders that:

                                       16
<PAGE>

     (a) Each Registration  Statement and each Prospectus  furnished pursuant to
Section 2(a) or Section 2(b) hereof and any further amendments or supplements to
any such Registration  Statement or Prospectus,  when it becomes effective or is
filed  with the SEC,  as the case may be,  and,  in the case of an  Underwritten
Offering,  at the time of the closing under the underwriting  agreement relating
thereto,  will  conform in all  material  respects  to the  requirements  of the
Securities Act and the Trust  Indenture Act and the rules and regulations of the
SEC  thereunder  and will not contain an untrue  statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make
the statements  therein not misleading;  and at all times subsequent to the time
that such  Registration  Statement has become effective under the Securities Act
when a prospectus  would be required to be delivered  under the Securities  Act,
other than from (i) such time as a notice has been given to Holders  pursuant to
Section 4(h)(v) hereof until (ii) such time as the Company  furnishes an amended
or  supplemented   prospectus   pursuant  to  Section  4(g)  hereof,  each  such
Registration  Statement,  and each Prospectus furnished pursuant to Section 2(a)
or Section 2(b) hereof,  as then  amended or  supplemented,  will conform in all
material  respects  to the  requirements  of the  Securities  Act and the  Trust
Indenture Act and the rules and  regulations  of the SEC thereunder and will not
contain an untrue  statement of a material fact or omit to state a material fact
required to be stated  therein or necessary to make the  statements  therein not
misleading;  provided,  however, that this representation and warranty shall not
apply to any  statements  or omissions  made in reliance  upon and in conformity
with  information  furnished  in  writing  to the  Company by a Holder or by any
Underwriter expressly for use therein.

     (b) Any documents  incorporated by reference in any Prospectus  referred to
in Section  8(a)  hereof,  when they become or became  effective  or are or were
filed  with  the SEC,  as the case may be,  will  conform  or  conformed  in all
material respects to the requirements of the Securities Act or the Exchange Act,
as  applicable,  and none of such  documents will contain or contained an untrue
statement  of a material  fact or will omit or omitted to state a material  fact
required to be stated  therein or necessary to make the  statements  therein not
misleading;  provided,  however, that this representation and warranty shall not
apply to any  statements  or omissions  made in reliance  upon and in conformity
with  information  furnished  in  writing  to the  Company by a Holder or by any
Underwriter expressly for use therein.

     (c) The  compliance  by the  Company  and  the  Guarantor  with  all of the
provisions of this Agreement and the  consummation  of the  transactions  herein
contemplated will not conflict with or result in a breach or violation of any of
the terms or  provisions  of, or  constitute a default  under,  or result in the
creation or imposition of any lien,  charge or encumbrance  upon any property or
assets of the  Guarantor  or any  subsidiary  of the  Guarantor  (including  the
Company) pursuant to, any indenture,  mortgage, deed of trust, loan agreement or
other material  agreement or instrument to which the Guarantor or any subsidiary
of the Guarantor (including the Company) is a party or by which the Guarantor or
any subsidiary of the Guarantor (including the Company) is bound or to which any
of the property or assets of the  Guarantor or any  subsidiary  of the Guarantor
(including the Company) is subject, nor will such action result in any violation
of the provisions of the charter, by-laws or similar organizational documents of
the Guarantor or any  subsidiary of the Guarantor  (including  the Company),  or

                                       17
<PAGE>

result  in the  violation  of any law or  statute  or any  judgement,  order  or
regulation of any court or arbitrator or governmental  or regulatory  authority;
and no consent, approval, authorization, order, registration or qualification of
or with any court or  arbitrator  or  governmental  or  regulatory  authority is
required for the  compliance  by the Company and the  Guarantor  with all of the
provisions  of  this  Agreement  and the  consummation  by the  Company  and the
Guarantor of the  transactions  contemplated by this Agreement,  except for such
consents, approvals, authorizations,  orders and registrations or qualifications
as may be required (i) under  applicable  state  securities  laws, in connection
with the purchase and resale of the  Securities  by the Initial  Purchasers  and
(ii) with respect to the Exchange  Securities(including  the related  guarantee)
under the Securities Act and applicable state securities laws as contemplated by
this Agreement.

     (d) This Agreement has been duly authorized, executed and delivered by each
of the Company and the Guarantor.

     9.  Indemnification  and Contribution.  (a)  Indemnification of the Initial
Purchasers  and Holders.  The Company and the  Guarantor  jointly and  severally
agree to  indemnify  and hold  harmless  each Initial  Purchaser  and each other
Holder,  their respective  affiliates and each Person,  if any, who controls any
Initial  Purchaser or any other  Holder  within the meaning of Section 15 of the
Securities  Act or Section 20 of the Exchange  Act, from and against any and all
losses,  claims,  damages  and  liabilities   (including,   without  limitation,
reasonable  legal fees and other expenses  incurred in connection with any suit,
action or proceeding  or any claim  asserted),  joint or several,  caused by any
untrue statement or alleged untrue statement of a material fact contained in any
Registration  Statement or any Prospectus,  or caused by any omission or alleged
omission  to state  therein a material  fact  required  to be stated  therein or
necessary  in order to make  the  statements  therein,  not  misleading,  except
insofar as such losses,  claims, damages or liabilities are caused by any untrue
statement or omission or alleged  untrue  statement or omission made in reliance
upon  and in  conformity  with  any  information  relating  to (i)  any  Initial
Purchaser  furnished to the Company and the  Guarantor  in writing  through J.P.
Morgan  Securities  Inc.  expressly  for use therein or (ii) any selling  Holder
furnished to the Company and the  Guarantor in writing by such Holder  expressly
for use therein.  In  connection  with any  Underwritten  Offering  permitted by
Section 5, the Company and the Guarantor will also  indemnify the  Underwriters,
if any,  and their  respective  affiliates  and each  Person who  controls  such
Persons  (within the meaning of the  Securities Act and the Exchange Act) to the
same  extent as  provided  above  with  respect  to the  indemnification  of the
Holders, if requested in connection with any Registration Statement.

                                       18
<PAGE>

     (b)  Indemnification of the Company and the Guarantor.  Each Holder agrees,
severally  and not jointly,  to  indemnify  and hold  harmless the Company,  the
Guarantor,   the  Initial  Purchasers  and  the  other  selling  Holders,  their
respective  affiliates,  the  directors of the Company and the  Guarantor,  each
officer of the Company and the Guarantor who signed the  Registration  Statement
and each Person,  if any, who controls the Company,  the Guarantor,  any Initial
Purchaser and any other  selling  Holder within the meaning of Section 15 of the
Securities  Act or  Section  20 of the  Exchange  Act to the same  extent as the
indemnity set forth in paragraph (a) above, but only with respect to any losses,
claims,  damages or  liabilities  caused by any untrue  statement or omission or
alleged  untrue  statement or omission  made in reliance  upon and in conformity
with any information relating to such Holder furnished to the Company in writing
by  such  Holder  expressly  for  use  in any  Registration  Statement  and  any
Prospectus.

     (c) Notice and Procedures.  If any suit, action,  proceeding (including any
governmental or regulatory  investigation),  claim or demand shall be brought or
asserted  against any Person in respect of which  indemnification  may be sought
pursuant to either  paragraph  (a) or (b) above,  such Person (the  "Indemnified
Person") shall promptly notify the Person against whom such  indemnification may
be sought (the "Indemnifying  Person") in writing;  provided that the failure to
notify the  Indemnifying  Person shall not relieve it from any liability that it
may have under this  Section 9 except to the extent that it has been  materially
prejudiced  (through the forfeiture of  substantive  rights or defenses) by such
failure;  and  provided,  further,  that the failure to notify the  Indemnifying
Person  shall  not  relieve  it  from  any  liability  that  it may  have  to an
Indemnified  Person  otherwise than under this Section 9. If any such proceeding
shall be brought or  asserted  against an  Indemnified  Person and it shall have
notified the Indemnifying  Person thereof,  the Indemnifying Person shall retain
counsel  reasonably  satisfactory  to the  Indemnified  Person to represent  the
Indemnified Person and any others entitled to  indemnification  pursuant to this
Section 9 that the  Indemnifying  Person may  designate in such  proceeding  and
shall pay the fees and expenses of such counsel related to such  proceeding.  In
any such proceeding,  any Indemnified  Person shall have the right to retain its
own counsel,  but the fees and expenses of such counsel  shall be at the expense
of  such  Indemnified  Person  unless  (i)  the  Indemnifying   Person  and  the
Indemnified  Person  shall  have  mutually  agreed  to the  contrary;  (ii)  the
Indemnifying  Person  has  failed  within a  reasonable  time to retain  counsel
reasonably  satisfactory to the Indemnified Person; (iii) the Indemnified Person
shall have reasonably concluded that there may be legal defenses available to it
that are different  from or in addition to those  available to the  Indemnifying

                                       19
<PAGE>

Person;  or (iv)  the  named  parties  in any  such  proceeding  (including  any
impleaded  parties)  include both the  Indemnifying  Person and the  Indemnified
Person  and  representation  of  both  parties  by the  same  counsel  would  be
inappropriate due to actual or potential differing interests between them. It is
understood and agreed that the Indemnifying Person shall not, in connection with
any proceeding or related proceeding in the same jurisdiction, be liable for the
fees and  expenses  of more than one  separate  firm (in  addition  to any local
counsel) for all Indemnified  Persons, and that all such fees and expenses shall
be reimbursed  as they are incurred.  Any such separate firm (x) for any Initial
Purchaser,  its  affiliates  and any control  Persons of such Initial  Purchaser
shall be designated in writing by J.P. Morgan Securities Inc., (y) for any other
Holder,  its  affiliates  and any  control  Persons  of  such  Holder  shall  be
designated  in writing by the Majority  Holders and (z) in all other cases shall
be designated in writing by the Guarantor.  The Indemnifying Person shall not be
liable  for any  settlement  of any  proceeding  effected  without  its  written
consent,  but if settled with such  consent or if there be a final  judgment for
the plaintiff,  the  Indemnifying  Person agrees to indemnify  each  Indemnified
Person from and against any loss or  liability by reason of such  settlement  or
judgment.  Notwithstanding the foregoing sentence, if at any time an Indemnified
Person  shall  have  requested  that  an  Indemnifying   Person   reimburse  the
Indemnified  Person for fees and  expenses  of counsel as  contemplated  by this
paragraph,  the  Indemnifying  Person shall be liable for any  settlement of any
proceeding  effected  without  its  written  consent if (i) such  settlement  is
entered into more than 30 days after receipt by the Indemnifying  Person of such
request  and  (ii)  the  Indemnifying  Person  shall  not  have  reimbursed  the
Indemnified  Person in  accordance  with such request  prior to the date of such
settlement.  No  Indemnifying  Person shall,  without the written consent of the
Indemnified  Person,   effect  any  settlement  of  any  pending  or  threatened
proceeding  in respect of which any  Indemnified  Person is or could have been a
party and  indemnification  could have been sought hereunder by such Indemnified
Person,  unless such settlement (A) includes a full and unconditional release of
such Indemnified Person from all liability on claims that are the subject matter
of such proceeding and (B) does not include any statement as to or any admission
of fault,  culpability  or a failure  to act by or on behalf of any  Indemnified
Person.

     (d) Contribution. If the indemnification provided for in paragraphs (a) and
(b) above is unavailable to an Indemnified  Person or insufficient in respect of
any losses,  claims,  damages or  liabilities  referred  to  therein,  then each
Indemnifying  Person  under  such  paragraph,   in  lieu  of  indemnifying  such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such  Indemnified  Person  as a  result  of  such  losses,  claims,  damages  or
liabilities  (i) in such  proportion as is  appropriate  to reflect the relative
benefits  received  by the Company and the  Guarantor  from the  offering of the
Securities and the Exchange Securities, on the one hand, and by the Holders from
receiving Securities or Exchange Securities registered under the Securities Act,
on the other  hand,  or (ii) if the  allocation  provided  by clause  (i) is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) but also the relative fault
of the Company and the Guarantor on the one hand and the Holders on the other in
connection  with the  statements  or  omissions  that  resulted in such  losses,
claims,  damages  or  liabilities,  as  well  as any  other  relevant  equitable

                                       20
<PAGE>

considerations.  The relative  fault of the Company and the Guarantor on the one
hand and the Holders on the other shall be  determined  by  reference  to, among
other things,  whether the untrue or alleged untrue statement of a material fact
or the  omission  or  alleged  omission  to state a  material  fact  relates  to
information  supplied by the Company and the Guarantor or by the Holders and the
parties'  relative intent,  knowledge,  access to information and opportunity to
correct or prevent such statement or omission.

     (e)  Limitation  on Liability.  The Company,  the Guarantor and the Holders
agree that it would not be just and equitable if  contribution  pursuant to this
Section 9 were  determined  by pro rata  allocation  (even if the  Holders  were
treated as one entity for such  purpose)  or by any other  method of  allocation
that  does not take  account  of the  equitable  considerations  referred  to in
paragraph (d) above.  The amount paid or payable by an  Indemnified  Person as a
result of the losses,  claims,  damages and liabilities referred to in paragraph
(d) above  shall be deemed to  include,  subject  to the  limitations  set forth
above,  any  legal or other  expenses  incurred  by such  Indemnified  Person in
connection with any such action or claim. Notwithstanding the provisions of this
Section 9, in no event shall a Holder be required  to  contribute  any amount in
excess  of the  amount  by  which  the  total  price at  which  the  Registrable
Securities or Exchange  Securities sold by such Holder exceeds the amount of any
damages that such Holder has  otherwise  been  required to pay by reason of such
untrue or alleged untrue  statement or omission or alleged  omission.  No Person
guilty of fraudulent  misrepresentation  (within the meaning of Section 11(f) of
the Securities  Act) shall be entitled to  contribution  from any Person who was
not guilty of such fraudulent misrepresentation.

     (f) Non-Exclusive Remedies. The remedies provided for in this Section 9 are
not  exclusive  and shall not limit any rights or remedies that may otherwise be
available to any Indemnified Person at law or in equity.

     (g) Survival.  The indemnity and contribution  provisions contained in this
Section 9 shall remain operative and in full force and effect  regardless of (i)
any termination of this Agreement,  (ii) any investigation  made by or on behalf
of the Initial  Purchasers or any other Holder,  their respective  affiliates or
any Person  controlling any Initial  Purchaser or any other Holder,  or by or on
behalf of the  Company or the  Guarantor,  their  respective  affiliates  or the
officers or directors of or any Person controlling the Company or the Guarantor,
(iii)  acceptance  of any of the  Exchange  Securities  and  (iv)  any  sale  of
Registrable Securities pursuant to a Shelf Registration Statement.

     10. General.

     (a) No Inconsistent  Agreements.  The Company and the Guarantor  represent,
warrant and agree that (i) the rights granted to the Holders hereunder do not in
any way conflict with and are not  inconsistent  with the rights  granted to the
holders of any other outstanding  securities issued or guaranteed by the Company

                                       21
<PAGE>

or the Guarantor  under any other agreement and (ii) neither the Company nor the
Guarantor has entered into, or on or after the date of this Agreement will enter
into, any agreement that is inconsistent  with the rights granted to the Holders
in this Agreement or otherwise conflicts with the provisions hereof.

     (b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended,  modified or supplemented,  and
waivers or consents to departures  from the  provisions  hereof may not be given
unless the Company  and the  Guarantor  have  obtained  the  written  consent of
Holders of at least a majority in aggregate  principal amount of the outstanding
Registrable  Securities  affected by such amendment,  modification,  supplement,
waiver or consent; provided that no amendment, modification,  supplement, waiver
or consent to any  departure  from the  provisions  of Section 9 hereof shall be
effective as against any Holder unless consented to in writing by such Holder.

     (c) Notices. All notices and other communications provided for or permitted
hereunder  shall be made in writing  by  hand-delivery,  registered  first-class
mail, telex, telecopier or any courier guaranteeing overnight delivery (i) if to
a Holder,  at the most  current  address  given by such Holder to the Company by
means of a notice given in accordance with the provisions of this Section 10(c),
which address initially is, with respect to the Initial Purchasers,  the address
set forth in Section 14(b) of the Purchase Agreement; and (ii) if to the Company
and the  Guarantor,  initially at the  Guarantor's  address set forth in Section
14(b) of the Purchase Agreement and thereafter at such other address,  notice of
which is given in accordance with the provisions of this Section 10(c). All such
notices and communications  shall be deemed to have been duly given: at the time
delivered by hand,  if  personally  delivered;  five  Business  Days after being
deposited in the mail,  postage  prepaid,  if mailed;  when  answered  back,  if
telexed; when receipt is acknowledged,  if telecopied;  and on the next Business
Day if timely  delivered  to an air  courier  guaranteeing  overnight  delivery.
Copies  of  all  such  notices,   demands  or  other   communications  shall  be
concurrently  delivered  by the Person  giving the same to the  Trustee,  at the
address specified in the Indenture.

     (d)  Successors and Assigns.  This Agreement  shall inure to the benefit of
and be binding  upon the  successors,  assigns  and  transferees  of each of the
parties,  including,  without  limitation  and  without  the need for an express
assignment,  subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment,  transfer or other disposition of Registrable  Securities
in  violation of the terms of the Purchase  Agreement or the  Indenture.  If any
transferee  of any Holder shall  acquire  Registrable  Securities in any manner,
whether by operation of law or otherwise,  such Registrable  Securities shall be
held subject to all the terms of this Agreement,  and by taking and holding such

                                       22
<PAGE>

Registrable  Securities such Person shall be conclusively  deemed to have agreed
to be bound by and to perform all of the terms and  provisions of this Agreement
and such Person  shall be entitled to receive the  benefits  hereof.  No Initial
Purchaser (in its capacity as an Initial  Purchaser) shall have any liability or
obligation  to the  Company or the  Guarantor  with  respect to any failure by a
Holder (other than such Initial  Purchaser) to comply with, or any breach by any
Holder (other than such Initial  Purchaser)  of, any of the  obligations of such
Holder under this Agreement.

     (e) Purchases and Sales of Securities.  The Company and the Guarantor shall
not, and shall use their best efforts to cause their  affiliates  (as defined in
Rule 405 under the Securities Act) not to, purchase and then resell or otherwise
transfer any Registrable Securities.

     (f)  Third  Party  Beneficiaries.  Each  Holder  shall  be  a  third  party
beneficiary  to the  agreements  made  hereunder  between  the  Company  and the
Guarantor,  on the one hand, and the Initial Purchasers,  on the other hand, and
shall have the right to enforce such agreements  directly to the extent it deems
such  enforcement  necessary or advisable to protect its rights or the rights of
other Holders hereunder.

     (g)  Counterparts.  This  Agreement  may  be  executed  in  any  number  of
counterparts and by the parties hereto 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.

     (h)  Headings.  The  headings  in this  Agreement  are for  convenience  of
reference only and shall not limit or otherwise affect the meaning hereof.

     (i) Governing Law;  Jurisdiction;  Service of Process. This Agreement shall
be governed by and  construed  in  accordance  with the laws of the State of New
York, without regard to any principles of conflicts of laws that would result in
the application of the laws of any other  jurisdiction.  Each of the Company and
the Guarantor  hereby submits to the  non-exclusive  jurisdiction of the federal
and state courts in the Borough of Manhattan in The City of New York in any suit
or proceeding  arising out of or relating to this Agreement or the  transactions
contemplated  thereby.  The Company has  appointed CT  Corporation  System,  111
Eighth Avenue, New York, New York 10011 as its Authorized Agent (the "Authorized
Agent")  upon whom  process  may be served  in any  suit,  action or  proceeding
arising out of or relating to this  Agreement or the  transactions  contemplated
thereby that may be  instituted  in any federal or state court in the Borough of
Manhattan  in The City of New York by any Initial  Purchaser or any other Holder
or by any Person who controls any Initial  Purchaser  or any other  Holder,  and
agrees  that  service of process  upon such agent,  and  written  notice of said
service to the Company by the person serving the same to the address referred to
in Section 10(c),  shall be deemed in every respect effective service of process
upon the Company in any such suit or proceeding.  The Company  further agrees to
take any and all action as may be necessary  to maintain  such  designation  and
appointment  of such  agent in full  force and  effect for a period of ten years
from the date of this Agreement.  If for any reason CT Corporation  System shall

                                       23
<PAGE>

cease to be  available  to act as such  authorized  agent for the  Company,  the
Company  agrees to  designate  a new agent in the State of New York on the terms
and for the purpose of this Section 10(i) reasonably satisfactory to J.P. Morgan
Securities  Inc.  Each  of  the  Company  and  the  Guarantor   irrevocably  and
unconditionally  waives,  to the fullest extent  permitted by law, any objection
that it may have to laying of venue in respect of any action, suit or proceeding
arising  out  of or in  connection  with  this  Agreement  or  the  transactions
contemplated hereby to which it is a party brought in any federal or state court
located in the State of New York and hereby  agrees not to plead or claim in any
such court  that any such  action,  suit or  proceeding  has been  brought in an
inconvenient  forum.  Each of the Company and the Guarantor also waives,  to the
fullest  extent  permitted  by law,  all  right to trial by jury in any claim or
counterclaim (whether based upon contract, tort or otherwise) in any way arising
out of or relating to this Agreement.

     (j) Miscellaneous. This Agreement contains the entire agreement between the
parties relating to the subject matter hereof and supersedes all oral statements
and prior  writings  with  respect  thereto.  Section  headings  herein  are for
convenience only and are not a part of this Agreement.  If any term,  provision,
covenant  or  restriction  contained  in this  Agreement  is held by a court  of
competent  jurisdiction to be invalid,  void or  unenforceable or against public
policy,  the  remainder of the terms,  provisions,  covenants  and  restrictions
contained  herein  shall  remain in full force and effect and shall in no way be
affected,  impaired or invalidated.  The Company,  the Guarantor and the Initial
Purchasers  shall  endeavor in good faith  negotiations  to replace any invalid,
void or  unenforceable  provision with a valid  provision the economic effect of
which comes as close as possible to that of the invalid,  void or  unenforceable
provision.

                                       24
<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first written above.

                                  SYSCO INTERNATIONAL, CO.

                                  By:  /s/ Diane Day Sanders
                                      -----------------------------------------
                                      Diane Day Sanders
                                      Treasurer

                                  SYSCO CORPORATION

                                  By:  /s/ Diane Day Sanders
                                      ------------------------------------------
                                      Diane Day Sanders
                                      Vice President and Treasurer

Confirmed and accepted as of the date first above written:

J.P. MORGAN SECURITIES INC.

For itself and on behalf of the
 several Initial Purchasers

By       /s/ Maria Sramek
    ---------------------------------
Name:    Maria Sramek
Title:   Vice President

                                       25

1501332v1

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