Document:

exv4w3

Exhibit 4.3

 

CELANESE US HOLDINGS LLC

THE GUARANTORS PARTY HERETO, as Guarantors

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 

57⁄8% Senior Notes due 2021

FIRST SUPPLEMENTAL INDENTURE

Dated as of May 6, 2011

to

INDENTURE

Dated as of May 6, 2011

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE ONE	 	 	 	 
	 
	DEFINITIONS AND OTHER PROVISIONS OF	 	 	 	 
	 
	GENERAL APPLICATION	 	 	 	 
	 
	SECTION 1.1. Definitions
	 	 	1	 
	SECTION 1.2. Other Definitions
	 	 	30	 
	SECTION 1.3. Rules of Construction
	 	 	31	 
	 
	ARTICLE TWO	 	 	 	 
	 
	SECURITIES FORMS	 	 	 	 
	 
	SECTION 2.1. Creation of the Notes; Designations
	 	 	31	 
	SECTION 2.2. Forms Generally
	 	 	31	 
	SECTION 2.3. Title and Terms of Notes
	 	 	32	 
	 
	ARTICLE THREE	 	 	 	 
	 
	REDEMPTION	 	 	 	 
	 
	SECTION 3.1. Optional Redemption
	 	 	33	 
	SECTION 3.2. Optional Redemption Procedures
	 	 	33	 
	 
	ARTICLE FOUR	 	 	 	 
	 
	COVENANTS	 	 	 	 
	 
	SECTION 4.1. Restricted Payments
	 	 	34	 
	SECTION 4.2. Incurrence of Indebtedness and Issuance of Preferred Stock
	 	 	40	 
	SECTION 4.3. Liens
	 	 	44	 
	SECTION 4.4. Dividend and Other Payment Restrictions Affecting Subsidiaries
	 	 	45	 
	SECTION 4.5. Transactions with Affiliates
	 	 	47	 
	SECTION 4.6. Business Activities
	 	 	48	 
	SECTION 4.7. Additional Guarantees
	 	 	48	 
	SECTION 4.8. Reports
	 	 	48	 
	SECTION 4.9. Change of Control Event
	 	 	49	 
	SECTION 4.10. Asset Sales
	 	 	51	 
	SECTION 4.11. Suspension of Covenants
	 	 	54	 

-i-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE FIVE	 	 	 	 
	 
	MERGER, CONSOLIDATION OR SALE OF ASSETS	 	 	 	 
	 
	SECTION 5.1. Consolidation, Merger and Sale of Assets of the Issuer
	 	 	55	 
	SECTION 5.2. Consolidation, Merger and Sale of Assets by a Guarantor
	 	 	56	 
	 
	ARTICLE SIX	 	 	 	 
	 
	GUARANTEE OF NOTES	 	 	 	 
	 
	SECTION 6.1. Guarantee
	 	 	57	 
	SECTION 6.2. Execution and Delivery of Notation of Guarantee
	 	 	58	 
	SECTION 6.3. Limitation of Guarantee
	 	 	58	 
	SECTION 6.4. Release of Guarantor
	 	 	58	 
	SECTION 6.5. Waiver of Subrogation
	 	 	59	 
	 
	ARTICLE SEVEN	 	 	 	 
	 
	EVENTS OF DEFAULT	 	 	 	 
	 
	SECTION 7.1. Events of Default
	 	 	60	 
	 
	ARTICLE EIGHT	 	 	 	 
	 
	SATISFACTION AND DISCHARGE	 	 	 	 
	 
	SECTION 8.1. Discharge of Liability on Notes
	 	 	62	 
	SECTION 8.2. Defeasance
	 	 	63	 
	SECTION 8.3. Conditions to Defeasance
	 	 	64	 
	SECTION 8.4. Application of Trust Money
	 	 	65	 
	SECTION 8.5. Repayment to Issuer
	 	 	65	 
	SECTION 8.6. Indemnity for Government Securities
	 	 	65	 
	SECTION 8.7. Reinstatement
	 	 	65	 
	 
	ARTICLE NINE	 	 	 	 
	 
	AMENDMENTS AND WAIVERS	 	 	 	 
	 
	SECTION 9.1. Amendment, Supplement and Waiver
	 	 	66	 
	 
	ARTICLE TEN	 	 	 	 
	 
	MISCELLANEOUS	 	 	 	 
	 
	SECTION 10.1. Effect of First Supplemental Indenture
	 	 	68	 
	SECTION 10.2. Effect of Headings
	 	 	69	 
	SECTION 10.3. Successors and Assigns
	 	 	69	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 10.4. Severability Clause
	 	 	69	 
	SECTION 10.5. Benefits of First Supplemental Indenture
	 	 	69	 
	SECTION 10.6. Conflict
	 	 	69	 
	SECTION 10.7. Governing Law
	 	 	69	 
	SECTION 10.8. Trustee
	 	 	69	 
	SECTION 10.9 Counterparts
	 	 	70	 

EXHIBITS

	 	 	 	 	 

	Exhibit I

	 	—
	 	Form of Note
	Exhibit II-A

	 	—
	 	Form of Notation of Subsidiary Guarantee
	Exhibit II-B

	 	—
	 	Form of Notation of Parent Guarantee

-iii-

 

          FIRST SUPPLEMENTAL INDENTURE, dated as of May 6, 2011, among CELANESE US HOLDINGS LLC, a
Delaware limited liability company (the “Issuer”), the Guarantors (as defined herein) and
WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the “Trustee”).

RECITALS

          WHEREAS, the Issuer and the Trustee entered into an Indenture, dated as of May 6, 2011 (the
“Base Indenture”), pursuant to which debentures, notes or other debt instruments of the
Issuer may be issued in one or more series from time to time;

          WHEREAS, Section 2.2 of the Base Indenture permits the forms and terms of the Securities of
any series as permitted in Sections 2.1 and 2.2 to be established in an indenture supplemental to
the Base Indenture;

          WHEREAS, the Issuer has requested the Trustee to join with it and the Guarantors in the
execution and delivery of this First Supplemental Indenture in order to supplement the Base
Indenture by, among other things, establishing the forms and certain terms of a series of
Securities to be known as the Issuer’s “57⁄8% Senior Notes due 2021” (the “Notes”), and
adding certain provisions thereto for the benefit of the Holders of the Notes;

          WHEREAS, the Issuer has furnished the Trustee with a duly authorized and executed issuer order
dated May 6, 2011 authorizing the execution of this First Supplemental Indenture and the issuance
of the Notes, such issuer order sometimes referred to herein as the “Authentication Order”;

          WHEREAS, all things necessary to make this First Supplemental Indenture a valid, binding and
enforceable agreement of the Issuer, the Guarantors and the Trustee and a valid supplement to the
Base Indenture have been done; and

          NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH:

          For and in consideration of the premises and the purchase by the Holders of the Notes to be
issued hereunder, the Issuer, the Guarantors and the Trustee mutually covenant and agree, for the
equal and proportionate benefit of the Holders from time to time of the Notes, as follows:

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF

GENERAL APPLICATION

SECTION
1.1. Definitions.

     The Base Indenture together with this First Supplemental Indenture are hereinafter sometimes
collectively referred to as the “Indenture.” For the avoidance of doubt, references to any
“Section” of the “Indenture” refer to such Section of the Base Indenture as supplemented

1

 

and amended by this First Supplemental Indenture. All capitalized terms which are used herein
and not otherwise defined herein are defined in the Base Indenture and are used herein with the
same meanings as in the Base Indenture. If a capitalized term is defined in the Base Indenture and
this First Supplemental Indenture, the definition in this First Supplemental Indenture shall apply
to the Notes (and any notation of Guarantee endorsed thereon).

          “Acquired Debt” means, with respect to any specified Person:

          (1) Indebtedness of any other Person existing at the time such other Person is merged
with or into or becomes a Restricted Subsidiary of such specified Person; and

          (2) Indebtedness secured by an existing Lien encumbering any asset acquired by such
specified Person;

but excluding in any event Indebtedness incurred in connection with, or in contemplation of, such
other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person.

          “Additional Notes” has the meaning set forth in Section 2.3.

          “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.

          “Applicable Premium” means with respect to any Note on the applicable redemption date,
the greater of:

          (1) 1.0% of the then outstanding principal amount of the Note; and

          (2) the excess of:

     (a) the present value at such redemption date of (i) 100% of the aggregate
principal amount of such Note plus (ii) all required interest payments due on the
Notes through June 15, 2021 (excluding accrued but unpaid interest through the
redemption date), computed by the Issuer using a discount rate equal to the Treasury
Rate as of such redemption date plus 50 basis points; over

     (b) the then outstanding principal amount of such Note.

     The Issuer will calculate the Applicable Premium prior to the applicable redemption date and
deliver an Officers’ Certificate setting forth the Applicable Premium and showing the calculation
thereof in reasonable detail.

2

 

          “Asset Sale” means (i) the sale, conveyance, transfer or other disposition (whether in
a single transaction or a series of related transactions) of property or assets of the Issuer or
any Restricted Subsidiary (each referred to in this definition as a “disposition”) or (ii)
the issuance or sale of Equity Interests of any Restricted Subsidiary (whether in a single
transaction or a series of related transactions), in each case, other than:

     (1) a disposition of Cash Equivalents or Investment Grade Securities or obsolete or
worn out property or equipment in the ordinary course of business or inventory (or other
assets) held for sale in the ordinary course of business;

     (2) the disposition of all or substantially all of the assets of the Issuer in a manner
permitted pursuant to Article Five or any disposition that constitutes a Change of Control;

     (3) the making of any Restricted Payment or Permitted Investment that is permitted to
be made, and is made, pursuant to Section 4.1;

     (4) any disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary in any transaction or series of transactions with an aggregate fair market value
of less than $50.0 million;

     (5) any disposition of property or assets or issuance of securities by a Restricted
Subsidiary to the Issuer or by the Issuer or a Restricted Subsidiary to another Restricted
Subsidiary;

     (6) the lease, assignment or sublease of any real or personal property in the ordinary
course of business;

     (7) any sale of Equity Interests in, or Indebtedness or other securities of, an
Unrestricted Subsidiary (with the exception of Investments in Unrestricted Subsidiaries
acquired pursuant to clause (1) of the definition of “Permitted Investments”);

     (8) sales of inventory in the ordinary course of business;

     (9) sales of assets received by the Issuer or any Restricted Subsidiary upon
foreclosures on a Lien;

     (10) sales of Securitization Assets and related assets of the type specified in the
definition of “Securitization Financing” to a Securitization Subsidiary in connection with
any Qualified Securitization Financing;

     (11) a transfer of Securitization Assets and related assets of the type specified in
the definition of “Securitization Financing” (or a fractional undivided interest therein) by
a Securitization Subsidiary in a Qualified Securitization Financing;

     (12) any exchange of assets for assets related to a Permitted Business of comparable
market value, as determined in good faith by the Issuer, which in the event of an exchange
of assets with a fair market value in excess of (1) $75.0 million shall be

3

 

evidenced by a certificate of a Responsible Officer of the Issuer, and (2) $150.0
million shall be set forth in a resolution approved in good faith by at least a majority of
the Board of Directors; and

     (13) any sale, conveyance, transfer or other disposition (whether in a single
transaction or a series of related transactions) of property or assets in connection with
the Fraport Transaction.

     “Board of Directors” means:

     (1) with respect to a corporation, the board of directors of the corporation;

     (2) with respect to a partnership (including a société en commandite par actions), the
Board of Directors of the general partner or manager of the partnership; and

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

Unless otherwise specified, “Board of Directors” refers to the Board of Directors of the Parent
Guarantor.

          “Business Day” means a day other than a Saturday, Sunday or other day on which banking
institutions are authorized or required by law to close in New York City or in the city in which
the corporate trust office where the Indenture is being administered is located.

          “Capital Stock” means:

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

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

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

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

          “Capitalized Lease Obligation” means, at the time any determination thereof is to be
made, the amount of the liability in respect of a capital lease that would at such time be required
to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto)
in accordance with GAAP.

          “Captive Insurance Subsidiaries” means Celwood Insurance Company and Elwood Insurance
Limited, and any successor to either of them, in each case to the extent such Person constitutes a
Subsidiary.

4

 

          “Cash Equivalents” means:

     (1) U.S. dollars, pounds sterling, Euros, or, in the case of any Foreign Subsidiary,
such local currencies held by it from time to time in the ordinary course of business;

     (2) direct obligations of the United States of America or any member of the European
Union or any agency thereof or obligations guaranteed by the United States of America or any
member of the European Union or any agency thereof, in each case with maturities not
exceeding two years;

     (3) certificates of deposit, time deposits and eurodollar time deposits with maturities
of 12 months or less from the date of acquisition, bankers’ acceptances with maturities not
exceeding 12 months and overnight bank deposits, in each case, with any lender party to the
Credit Agreement or with any commercial bank having at the time of acquisition, capital and
surplus in excess of $500,000,000 (or its foreign currency equivalent);

     (4) repurchase obligations for underlying securities of the types described in clauses
(2) and (3) above entered into with any financial institution meeting the qualifications
specified in clause (3) above;

     (5) commercial paper maturing within 12 months after the date of acquisition and having
a rating of at least A-1 from Moody’s or P-1 from S&P;

     (6) securities with maturities of two years or less from the date of acquisition issued
or fully guaranteed by any State, commonwealth or territory of the United States of America,
or by any political subdivision or taxing authority thereof, and rated at least A by S&P or
A-2 by Moody’s;

     (7) investment funds at least 95% of the assets of which constitute Cash Equivalents of
the kinds described in clauses (1) through (6) of this definition;

     (8) money market funds that (i) comply with the criteria set forth in Rule 2a-7 under
the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii)
have portfolio assets of at least $500.0 million; and

     (9) money market funds that (i) comply with the definition of “qualifying money market
fund” as set forth in Article 18.2 of the Market in Financial Instruments Directive
(Commission Directive 2006/73/EC), and (ii) have portfolio assets of at least $1,000 million
(or its foreign currency equivalent).

     “Change of Control” means the occurrence of any of the following:

     (1) the sale, lease or transfer, in one or a series of related transactions, of all or
substantially all of the assets of the Issuer and its Subsidiaries, taken as a whole, to any
Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the

5

 

Exchange Act, or any successor provision) other than the Parent Guarantor or any
Subsidiary of the Parent Guarantor; or

     (2) the Issuer or any of its Subsidiaries becomes aware of (by way of a report or any
other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or
otherwise) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), including any group
acting for the purpose of acquiring, holding or disposing of securities (within the meaning
of Rule 13d-5(b)(1) under the Exchange Act, but excluding any Subsidiary of the Parent
Guarantor) in a single transaction or in a related series of transactions, by way of merger,
consolidation or other business combination or purchase of beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of 50% or more of
the total voting power of the Voting Stock of the Issuer or any of its direct or indirect
parent entity.

          “Change of Control Event” means the occurrence of both a Change of Control and a
Rating Decline.

          “Commission” means the Securities and Exchange Commission.

          “Consolidated Depreciation and Amortization Expense” means with respect to any Person
for any period, the total amount of depreciation and amortization expense, including the
amortization of deferred financing fees, of such Person and its Restricted Subsidiaries for such
period on a consolidated basis and otherwise determined in accordance with GAAP.

          “Consolidated Interest Expense” means, with respect to any Person for any period, (I)
the sum, without duplication, of: (a) consolidated interest expense of such Person and its
Restricted Subsidiaries for such period (including amortization of original issue discount, the
interest component of Capitalized Lease Obligations and net payments (if any) pursuant to interest
rate Hedging Obligations, but excluding amortization of deferred financing fees, expensing of any
bridge or other financing fees, customary commitment fees, administrative and transaction fees and
charges, termination costs and similar payments in respect of Hedging Obligations and Qualified
Securitization Financings and expenses and any interest expense on Indebtedness of a third party
that is not an Affiliate of the Parent Guarantor or any of its Subsidiaries and that is
attributable to supply or lease arrangements as a result of consolidation under ASC 810-10 or
attributable to “take-or-pay” contracts accounted for in a manner similar to a capital lease under
ASC 840-10, in either case so long as the underlying obligations under any such supply or lease
arrangement or such “take-or-pay” contract are not treated as Indebtedness as provided in clause
(2) of the proviso to the definition of Indebtedness), and (b) consolidated capitalized interest of
such Person and its Restricted Subsidiaries for such period, whether paid or accrued (including,
without limitation, Securitization Fees), less (II) interest income of such Person and its
Restricted Subsidiaries (other than cash interest income of the Captive Insurance Subsidiaries) for
such period.

          “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a
consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that

6

 

     (1) any net after-tax extraordinary, unusual or nonrecurring gains or income (less all
fees and expenses or charges relating thereto) or loss, expense or charge (including,
without limitation, severance, relocation and restructuring costs) including, without
limitation, (a) any severance expense, and (b) any fees, expenses or charges related to any
offering of Equity Interests of such Person, any Investment, acquisition or Indebtedness
permitted to be incurred hereunder (in each case, whether or not successful and including
the effects of expensing all transaction related expenses in accordance with ASC 805-10 and
gains and losses associated with ASC 460-10), or the offering, amendment or modification of
any debt instrument, including the offering, any amendment or other modification of the
Notes, including all fees, expenses, and charges related to the Transactions, in each case
shall be excluded;

     (2) the Net Income for such period shall not include the cumulative effect of or any
other charge relating to a change in accounting principles during such period (including any
change to IFRS);

     (3) any net after-tax income or loss from discontinued operations and any net after-tax
gain or loss on disposal of discontinued operations shall be excluded;

     (4) any net after-tax gains (less all fees and expenses or charges relating thereto) or
losses attributable to business dispositions or asset dispositions other than in the
ordinary course of business (as determined in good faith by the Board of Directors) shall be
excluded;

     (5) any net after-tax income (less all fees and expenses or charges relating thereto)
or loss attributable to the early extinguishment of indebtedness shall be excluded;

     (6) to the extent covered by insurance and actually reimbursed, or, so long as the
Issuer has made a determination that there exists reasonable evidence that such amount will
in fact be reimbursed by the insurer and only to the extent that such amount is (a) not
denied by the applicable carrier in writing within 180 days and (b) in fact reimbursed
within 365 days of the date of such evidence with a deduction for any amount so added back
to the extent not so reimbursed within 365 days, expenses with respect to liability or
casualty or business interruption shall be excluded;

     (7) (A) the Net Income for such period of any Person that is not a Subsidiary, or that
is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting,
shall be included only to the extent of the amount of dividends or distributions or other
payments in respect of equity that are actually paid in cash (or to the extent converted
into cash) by the referent Person to the Issuer or a Restricted Subsidiary thereof in
respect of such period, but excluding any such dividend, distribution or payment in respect
of equity that funds a JV Reinvestment, and (B) the Net Income for such period shall include
any dividend, distribution or other payments in respect of equity paid in cash by such
Person to the Issuer or a Restricted Subsidiary thereof in excess of the amounts included in
clause (A), but excluding any such dividend, distribution or payment that funds a JV
Reinvestment;

7

 

     (8) any increase in amortization or depreciation or any one-time non-cash charges (such
as purchased in-process research and development or capitalized manufacturing profit in
inventory) resulting from purchase accounting in connection with any acquisition that is
consummated prior to or after the Issue Date shall be excluded;

     (9) any non-cash impairment charges resulting from the application of ASC 350 or ASC
360 and the amortization of intangibles pursuant to ASC 805, shall be excluded;

     (10) any non-cash compensation expense realized from grants of stock appreciation or
similar rights, stock options or other rights to officers, directors and employees of such
Person or any of its Restricted Subsidiaries shall be excluded; and

     (11) solely for the purpose of determining the amount available for Restricted Payments
under Section 4.1(a)(3)(A), the Net Income for such period of any Restricted Subsidiary
(other than a Guarantor) shall be excluded if the declaration or payment of dividends or
similar distributions by that Restricted Subsidiary of its Net Income is not at the date of
determination permitted without any prior governmental approval (which has not been
obtained) or, directly or indirectly, by the operation of the terms of its charter or any
agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation
applicable to that Restricted Subsidiary or its stockholders, unless such restriction with
respect to the payment of dividends or in similar distributions has been legally waived;
provided that Consolidated Net Income of such Person shall be increased by the amount of
dividends or distributions or other payments that are actually paid in cash (or to the
extent converted into cash) by such Person to the Issuer or another Restricted Subsidiary
thereof in respect of such period, to the extent not already included therein.

          Notwithstanding the foregoing, for the purpose of Section 4.1 only (other than Section
4.1(a)(3)(D)), there shall be excluded from Consolidated Net Income any income arising from any
sale or other disposition of Restricted Investments made by the Issuer and the Restricted
Subsidiaries, any repurchases and redemptions of Restricted Investments by the Issuer and the
Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted
Investments by the Issuer and any Restricted Subsidiary, any sale of the stock of an Unrestricted
Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to
the extent such amounts increase the amount of Restricted Payments permitted under Section
4.1(a)(3)(D).

          “Consolidated Total Leverage Ratio” means, with respect to any Person, the ratio of
the aggregate amount of all Indebtedness of such Person and its Restricted Subsidiaries as of such
date of calculation that would be required to be reflected as liabilities of such Person on a
consolidated balance sheet (excluding the notes thereto and determined on a consolidated basis in
accordance with GAAP) to (ii) EBITDA of such Person for the most recently ended four fiscal
quarters for which internal financial statements are available. In the event that the Issuer or
any Restricted Subsidiary incurs, assumes, guarantees or redeems any Indebtedness or issues or
repays Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which
the Consolidated Total Leverage Ratio is being calculated but on or prior to the event for

8

 

which the calculation of the Consolidated Total Leverage Ratio is made, then the Consolidated
Total Leverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption,
guarantee or repayment of Indebtedness, or such issuance or redemption of Disqualified Stock or
Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter
period.

          “Contingent Obligations” means, with respect to any Person, any obligation of such
Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness
(“primary obligations”) of any other Person (the “primary obligor”) in any manner,
whether directly or indirectly, including, without limitation, any obligation of such Person,
whether or not contingent, (i) to purchase any such primary obligation or any property constituting
direct or indirect security therefor, (ii) to advance or supply funds (A) for the purchase or
payment of any such primary obligation or (B) to maintain working capital or equity capital of the
primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, or (iii)
to purchase property, securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of such primary
obligation against loss in respect thereof.

          “Credit Agreement” means that certain Amended and Restated Credit Agreement, dated as
of September 29, 2010 among Celanese Corporation, Celanese US Holdings LLC, the subsidiaries of
Celanese US Holdings LLC from time to time party thereto as borrowers and guarantors, Deutsche Bank
AG, New York Branch, as administrative agent and collateral agent, Deutsche Bank Securities LLC and
Banc of Americas Securities LLC as joint lead arrangers and joint book runners, HSBC Securities
(USA) Inc., JPMorgan Chase Bank, N.A., and The Royal Bank of Scotland plc, as Co-Documentation
Agents, the other lenders party thereto, and certain other agents for such lenders, including any
related notes, guarantees, collateral documents, instruments and agreements executed in connection
therewith, and in each case as amended, restated, supplemented, modified, renewed, refunded,
replaced or refinanced from time to time in one or more agreements or indentures (in each case with
the same or new lenders or institutional investors), including any agreement or indenture extending
the maturity thereof or otherwise restructuring all or any portion of the Indebtedness thereunder
or increasing the amount loaned or issued thereunder or altering the maturity thereof.

          “Credit Facilities” means, one or more debt facilities, agreements (including, without
limitation, the Credit Agreement), commercial paper facilities or indentures, in each case with
banks or other institutional lenders or investors providing for revolving credit loans, term loans,
notes (including, without limitation, additional Notes issued under the Indenture or any other
indenture or note purchase agreement), receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from such lenders
against such receivables) or letters of credit, in each case, as amended, restated, modified,
renewed, refunded, replaced or refinanced (including any agreement to extend the maturity thereof
or adding additional borrowers or guarantors) in whole or in part from time to time under the same
or any other agent, lender, investor or group of lenders or investors and including increasing the
amount of available borrowings thereunder; provided that such increase is permitted under Section
4.2.

9

 

          “Default” means any event that is, or with the passage of time or the giving of notice
or both would be, an Event of Default.

          “Designated Non-cash Consideration” means the fair market value of non-cash
consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an
Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s
Certificate setting forth the basis of such valuation, less the amount of cash or Cash Equivalents
received in connection with a subsequent sale of such Designated Non-cash Consideration.

          “Designated Preferred Stock” means Preferred Stock of the Issuer or any direct or
indirect parent company of the Issuer (other than Disqualified Stock), that is issued for cash
(other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust
established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred
Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of
which are excluded from the calculation set forth in Section 4.1(a)(3).

          “Disqualified Stock” means, with respect to any Person, any Capital Stock of such
Person which, by its terms (or by the terms of any security into which it is convertible or for
which it is putable or exchangeable), or upon the happening of any event, matures or is mandatorily
redeemable (other than as a result of a change of control or asset sale), pursuant to a sinking
fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than as a
result of a change of control or asset sale), in whole or in part, in each case prior to the date
91 days after the earlier of the Final Maturity Date of the Notes or the date the Notes are no
longer outstanding; provided, however, that if such Capital Stock is issued to any plan for the
benefit of employees of the Parent Guarantor or its Subsidiaries or by any such plan to such
employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be
required to be repurchased by the Parent Guarantor or its Subsidiaries in order to satisfy
applicable statutory or regulatory obligations.

          “Domestic Subsidiary” means any direct or indirect subsidiary of the Issuer that was
formed under the laws of the United States, any state of the United States or the District of
Columbia or any United States territory.

          “EBITDA” means, with respect to any Person for any period, the Consolidated Net Income
of such Person for such period (A) plus, without duplication, and in each case to the extent
deducted in calculating Consolidated Net Income for such period:

     (1) provision for taxes based on income, profits or capital of such Person for such
period, including, without limitation, state, franchise and similar taxes (such as the Texas
franchise tax and Michigan single business tax), plus

     (2) Consolidated Interest Expense of such Person for such period, plus

     (3) Consolidated Depreciation and Amortization Expense of such Person for such period,
plus

10

 

     (4) the amount of any restructuring charges (which, for the avoidance of doubt, shall
include retention, severance, systems establishment cost or excess pension charges), plus

     (5) business optimization expenses in an aggregate amount not to exceed $25.0 million
in any calendar year (with unused amounts in any calendar year being carried over to
succeeding calendar years), plus

     (6) the minority interest expense consisting of subsidiary income attributable to
minority equity interests of third parties in any non-Wholly Owned Subsidiary in such period
or any prior period, except to the extent of dividends declared or paid on Equity Interests
held by third parties, plus

     (7) the non-cash portion of “straight-line” rent expense, plus

     (8) the amount of any expense to the extent a corresponding amount is received in cash
by the Issuer and its Restricted Subsidiaries from a Person other than the Issuer or any
Subsidiary of the Issuer under any agreement providing for reimbursement of any such
expense, provided such reimbursement payment has not been included in determining
Consolidated Net Income or EBITDA (it being understood that if the amounts received in cash
under any such agreement in any period exceed the amount of expense in respect of such
period, such excess amounts received may be carried forward and applied against expense in
future periods), plus

     (9) without duplication, any other non-cash charges (including any impairment charges
and the impact of purchase accounting, including, but not limited to, the amortization of
inventory step-up) (excluding any such charge that represents an accrual or reserve for a
cash expenditure for a future period), plus

     (10) any net losses resulting from Hedging Obligations entered into in the ordinary
course of business relating to intercompany loans, to the extent that the notional amount of
the related Hedging Obligation does not exceed the principal amount of the related
intercompany loan,

          and (B) less the sum of, without duplication, (1) non-cash items increasing Consolidated Net
Income for such period (excluding any items which represent the reversal of any accrual of, or cash
reserve for, anticipated cash charges or asset valuation adjustments made in any prior period); (2)
the minority interest income consisting of subsidiary losses attributable to the minority equity
interests of third parties in any non-Wholly Owned Subsidiary, (3) the cash portion of
“straight-line” rent expense which exceeds the amount expensed in respect of such rent expense and
(4) any net gains resulting from Hedging Obligations entered into in the ordinary course of
business relating to intercompany loans, to the extent that the notional amount of the related
Hedging Obligation does not exceed the principal amount of the related intercompany loan.

          “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable
for, Capital Stock).

11

 

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder.

          “Excluded Contribution” means net cash proceeds, marketable securities or Qualified
Proceeds, in each case received by the Issuer and its Restricted Subsidiaries from:

     (1) contributions to its common equity capital; and

     (2) the sale (other than to a Subsidiary or to any management equity plan or stock
option plan or any other management or employee benefit plan or agreement of the Issuer or
any Subsidiary) of Capital Stock (other than Disqualified Stock),

in each case designated as Excluded Contributions pursuant to an Officer’s Certificate on the date
such capital contributions are made or the date such Equity Interests are sold, as the case may be,
which are excluded from the calculation set forth in Section 4.1(a)(3).

          “Existing Indebtedness” means Indebtedness of the Issuer and its Subsidiaries (other
than Indebtedness under the Credit Agreement and the Notes) in existence on the Issue Date.

          “Fixed Charge Coverage Ratio” means, with respect to any Person for any period
consisting of such Person and its Restricted Subsidiaries’ most recently ended four fiscal quarters
for which internal financial statements are available, the ratio of EBITDA of such Person for such
period to the Fixed Charges of such Person for such period. In the event that the Issuer or any
Restricted Subsidiary incurs, assumes, guarantees or redeems any Indebtedness or issues or repays
Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the
Fixed Charge Coverage Ratio is being calculated but on or prior to the event for which the
calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the
Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence,
assumption, guarantee or repayment of Indebtedness, or such issuance or redemption of Disqualified
Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable
four-quarter period.

          For purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, consolidations and discontinued operations (as determined in accordance with
GAAP) that have been made by the Issuer or any Restricted Subsidiary during the four-quarter
reference period or subsequent to such reference period and on or prior to or simultaneously with
the Calculation Date shall be calculated on a pro forma basis assuming that all such Investments,
acquisitions, dispositions, mergers, consolidations and discontinued operations (and the change in
any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred
on the first day of the four-quarter reference period.

          If since the beginning of such period any Person (that subsequently became a Restricted
Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning
of such period) shall have made any Investment, acquisition, disposition, merger, consolidation or
discontinued operation that would have required adjustment pursuant to this definition, then the
Fixed Charge Coverage Ratio shall be calculated giving pro forma effect

12

 

thereto for such period as if such Investment, acquisition, disposition, merger, consolidation or
discontinued operation had occurred at the beginning of the applicable four-quarter period.

          For purposes of this definition, whenever pro forma effect is to be given to an acquisition or
other Investment and the amount of income or earnings relating thereto, the pro forma calculations
shall be determined in good faith by a responsible financial or accounting Officer of the Issuer
and shall comply with the requirements of Rule 11-02 of Regulation S-X promulgated by the
Commission, except that such pro forma calculations may include (1) all adjustments commonly used
by the Parent Guarantor in connection with the calculation of “Operating EBITDA” (i.e., net
earnings less interest income plus loss (earnings) from discontinued operations, interest expense,
taxes, and depreciation and amortization, and further adjusted for other charges and adjustments
such as employee termination benefits, costs from plant closures and relocations) to the extent
such adjustments, without duplication, continue to be applicable to such four-quarter period, and
(2) operating expense reductions for such period resulting from the acquisition which is being
given pro forma effect that have been realized or for which the steps necessary for realization
have been taken or are reasonably expected to be taken within six months following any such
acquisition, including, but not limited to, the execution or termination of any contracts, the
termination of any personnel or the closing (or approval by the Board of Directors of any closing)
of any facility, as applicable, provided that, in either case, such adjustments are set forth in an
Officer’s Certificate signed by the Issuer’s chief financial officer and another Officer which
states (i) the amount of such adjustment or adjustments, (ii) that such adjustment or adjustments
are based on the reasonable good faith beliefs of the Officers executing such Officer’s Certificate
at the time of such execution and (iii) that any related incurrence of Indebtedness is permitted
pursuant to the Indenture. If any Indebtedness bears a floating rate of interest and is being
given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in
effect on the Calculation Date had been the applicable rate for the entire period (taking into
account any Hedging Obligations applicable to such Indebtedness).

          Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate
reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate
of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of
making the computation referred to above, interest on any Indebtedness under a revolving credit
facility computed on a pro forma basis shall be computed based upon the average daily balance of
such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be
determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency
interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually
chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate.

          “Fixed Charges” means, with respect to any Person for any period, the sum of, without
duplication, (a) Consolidated Interest Expense of such Person for such period, (b) all cash
dividends paid, accrued and/or scheduled to be paid or accrued during such period (excluding items
eliminated in consolidation) on any series of Preferred Stock of such Person and (c) all cash
dividends paid, accrued and/or scheduled to be paid or accrued during such period (excluding items
eliminated in consolidation) of any series of Disqualified Stock.

13

 

          “Foreign Subsidiary” means any Subsidiary of the Issuer that is not a Domestic
Subsidiary.

          “Fraport Transactions” means (i) the relocation of a plant owned by Ticona GmbH, a
Subsidiary, located in Kelsterbach, Germany, in connection with a settlement reached with Fraport
AG, a German company that operates the airport in Frankfurt, Germany, to relocate such plant, and
the payment to Ticona in connection with such settlement of a total of at least €650 million for
the costs associated with the transition of the business from the current location and closure of
the Kelsterbach plant, as further described in the current report on Form 8-K filed by the Parent
Guarantor with the SEC on November 29, 2006 and the exhibits thereto, and (ii) the activities of
the Parent Guarantor and its Subsidiaries in connection with the transactions described in clause
(i), including the selection of a new site, building of new production facilities and transition of
business activities.

          “GAAP” means generally accepted accounting principles in the United States in effect
on the Issue Date. For purposes of this description of the Notes, the term “consolidated” with
respect to any Person means such Person consolidated with its Restricted Subsidiaries and does not
include any Unrestricted Subsidiary. At any time after the Issue Date, the Issuer may elect to
apply IFRS accounting principles in lieu of GAAP and, upon any such election, references herein to
GAAP (or Accounting Standards Codifications) shall thereafter be construed to mean IFRS (and
equivalent pronouncements) as in effect at the date of such election, except as otherwise provided
in the Indenture; provided that any such election, once made, shall be irrevocable; provided,
further that any calculation or determination in the Indenture that requires the application of
GAAP for periods that include fiscal quarters ended prior to Issuer’s election to apply IFRS shall
remain as previously calculated or determined in accordance with GAAP. Issuer shall give notice of
any such election made in accordance with this definition to the Trustee and the holders of the
Notes.

          “Government Securities” means securities that are

     (a) direct obligations of the United States of America for the timely payment of
which its full faith and credit is pledged or

     (b) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of
America,

which, in either case, are not callable or redeemable at the option of the issuers thereof, and
shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the
Securities Act), as custodian with respect to any such Government Securities or a specific payment
of principal of or interest on any such Government Securities held by such custodian for the
account of the holder of such depository receipt; provided that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of the Government
Securities or the specific payment of principal of or interest on the Government Securities
evidenced by such depository receipt.

14

 

          “Gradation” means a gradation within a Rating Category or a change to another Rating
Category, which shall include: (i) “+” and “-” in the case of S&P’s current Rating Categories
(e.g., a decline from BB+ to BB would constitute a decrease of one gradation), (ii) 1, 2 and 3 in
the case of Moody’s current Rating Categories (e.g., a decline from Ba1 to Ba2 would constitute a
decrease of one gradation), or (iii) the equivalent in respect of successor Rating Categories of
S&P or Moody’s or Rating Categories used by Rating Agencies other than S&P and Moody’s.

          “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, through letters of credit or reimbursement agreements in respect thereof, of all or any
part of any Indebtedness or other obligations.

          “Guarantee” means any guarantee of the obligations of the Issuer under the Indenture
and the Notes by a Guarantor in accordance with the provisions of the Indenture. When used as a
verb, “Guarantee” shall have a corresponding meaning.

          “Guarantor” means any Person that incurs a Guarantee of the Notes; provided that upon
the release and discharge of such Person from its Guarantee in accordance with the Indenture, such
Person shall cease to be a Guarantor.

          “Hedging Obligations” means, with respect to any Person, the obligations of such
Person under:

     (1) currency exchange, interest rate or commodity swap agreements, currency
exchange, interest rate or commodity cap agreements and currency exchange, interest rate or
commodity collar agreements;

     (2) other agreements or arrangements designed to protect such Person against or
mitigate fluctuations in currency exchange, interest rates or commodity prices or in prices
of products used or sold in the Issuer or any Restricted Subsidiary’s business; and

     (3) credit default swap agreements designed to protect a Securitization Subsidiary
against the credit risk associated with specific Securitization Assets.

          “IFRS” means the International Financial Reporting Standards as adopted by the
International Accounting Standards Board.

          “Indebtedness” means, with respect to any Person:

     (a) any indebtedness (including principal and premium) of such Person, whether or
not contingent,

     (i) in respect of borrowed money,

     (ii) evidenced by bonds, notes, debentures or similar instruments or
letters of credit (or, without double counting, reimbursement agreements in respect
thereof),

15

 

     (iii) representing the balance deferred and unpaid of the purchase price of
any property (including Capitalized Lease Obligations), except (A) any such balance
that constitutes a trade payable or similar obligation to a trade creditor, in each
case accrued in the ordinary course of business and (B) reimbursement obligations in
respect of trade letters of credit obtained in the ordinary course of business with
expiration dates not in excess of 365 days from the date of issuance (x) to the
extent undrawn or (y) if drawn, to the extent repaid in full within 20 Business Days
of any such drawing; or

     (iv) representing any Hedging Obligations,

if and to the extent that any of the foregoing Indebtedness (other than letters of credit
and Hedging Obligations) would appear as a liability upon a balance sheet (excluding the
footnotes thereto) of such Person prepared in accordance with GAAP;

     (b) Disqualified Stock of such Person;

     (c) to the extent not otherwise included, any obligation by such Person to be
liable for, or to pay, as obligor, guarantor or otherwise, on the Indebtedness of another
Person (other than by endorsement of negotiable instruments for collection in the ordinary
course of business);

     (d) to the extent not otherwise included, Indebtedness of another Person secured by
a Lien on any asset owned by such Person (whether or not such Indebtedness is assumed by
such Person); and

     (e) to the extent not otherwise included, the amount then outstanding (i.e.,
advanced, and received by, and available for use by, the Issuer or any of its Restricted
Subsidiaries) under any Securitization Financing (as set forth in the books and records of
the Issuer or any Restricted Subsidiary);

provided, however, that

     (1) Contingent Obligations incurred in the ordinary course of business and not in
respect of borrowed money; and

     (2) Indebtedness of a third party that is not an Affiliate of the Parent Guarantor
or any of its Subsidiaries that is attributable to supply or lease arrangements as a result
of consolidation under ASC 810-10 or attributable to “take-or-pay” contracts accounted for
in a manner similar to a capital lease under ASC 840-10, in either case so long as (i) such
supply or lease arrangements or such take-or-pay contracts are entered into in the ordinary
course of business, (ii) the Board of Directors has approved any such supply or lease
arrangement or any such take-or-pay contract and (iii) notwithstanding anything to the
contrary contained in the definition of EBITDA, the related expense under any such supply or
lease arrangement or under any such take-or-pay contract is treated as an operating expense
that reduces EBITDA,

          shall be deemed not to constitute Indebtedness.

16

 

          “Independent Financial Advisor” means an accounting, appraisal or investment banking
firm or consultant of nationally recognized standing that is, in the good faith judgment of the
Issuer, qualified to perform the task for which it has been engaged.

          “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other
Rating Agency.

          “Investment Grade Securities” means:

     (1) securities issued by the U.S. government or by any agency or instrumentality
thereof and directly and fully guaranteed or insured by the U.S. government (other than Cash
Equivalents) and in each case with maturities not exceeding two years from the date of
acquisition,

     (2) investments in any fund that invests exclusively in investments of the type
described in clause (1) which fund may also hold immaterial amounts of cash pending
investment and/or distribution, and

     (3) corresponding instruments in countries other than the United States customarily
utilized for high quality investments and in each case with maturities not exceeding two
years from the date of acquisition.

          “Investments” means, with respect to any Person, all direct or indirect investments by
such Person in other Persons (including Affiliates) in the forms of loans (including guarantees or
other obligations), advances or capital contributions (excluding accounts receivable, trade credit,
advances to customers, commission, travel and similar advances to officers and employees, in each
case made in the ordinary course of business), purchases or other acquisitions for consideration of
Indebtedness, Equity Interests or other securities issued by any other Person and investments that
are required by GAAP to be classified on the balance sheet (excluding the footnotes) of such Person
in the same manner as the other investments included in this definition to the extent such
transactions involve the transfer of cash or other property. If the Issuer or any Subsidiary of
the Issuer sells or otherwise disposes of any Equity Interests of any direct or indirect Subsidiary
of the Issuer such that, after giving effect to any such sale or disposition, such Person is no
longer a Subsidiary of the Issuer, the Issuer will be deemed to have made an Investment on the date
of any such sale or disposition equal to the fair market value of the Equity Interests of such
Subsidiary not sold or disposed of in an amount determined as provided in Section 4.1(c).

          For purposes of the definition of “Unrestricted Subsidiary” and Section 4.1:

     (1) Investments” shall include the portion (proportionate to the Issuer’s equity
interest in such Subsidiary) of the fair market value of the net assets of a Subsidiary of
the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary;

     (2) any property transferred to or from an Unrestricted Subsidiary shall be valued
at its fair market value at the time of such transfer, in each case as determined in good
faith by the Issuer; and

17

 

     (3) any transfer of Capital Stock that results in an entity which became a
Restricted Subsidiary after the Issue Date ceasing to be a Restricted Subsidiary shall be
deemed to be an Investment in an amount equal to the fair market value (as determined by the
Board of Directors in good faith as of the date of initial acquisition) of the Capital Stock
of such entity owned by the Issuer and the Restricted Subsidiaries immediately after such
transfer.

          “Issue Date” means May 6, 2011.

          “JV Reinvestment” means any investment by the Issuer or any Restricted Subsidiary in a
joint venture to the extent funded with the proceeds of a reasonably concurrent dividend or other
distribution made by such joint venture.

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
hypothecation, pledge, encumbrance, charge or security interest in or on such asset, or (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of
the foregoing) relating to such asset.

          “Moody’s” means Moody’s Investors Service, Inc. and its successors.

          “Net Income” means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends
or accretion of any Preferred Stock.

          “Net Proceeds” means the aggregate cash proceeds received by the Issuer or any of its
Restricted Subsidiaries in respect of any Asset Sale (including any cash received in respect of or
upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset
Sale and any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise, but only as and when received, but excluding the assumption by
the acquiring Person of Indebtedness relating to the disposed assets or other consideration
received in any other non-cash form), net of the direct costs relating to such Asset Sale and the
sale or disposition of such Designated Non-cash Consideration (including, without limitation,
legal, accounting and investment banking fees, and brokerage and sales commissions), and any
relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (after
taking into account any available tax credits or deductions and any tax sharing arrangements
related thereto), amounts required to be applied to the repayment of principal, premium (if any)
and interest on Indebtedness required (other than pursuant to Section 4.10(b)) to be paid as a
result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer
as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of
in such transaction and retained by the Issuer after such sale or other disposition thereof,
including, without limitation, pension and other post-employment benefit liabilities and
liabilities related to environmental matters or against any indemnification obligations associated
with such transaction.

          “Notes”
means any 57⁄8% Senior Notes due 2021 issued by the Issuer hereunder, including,
without limitation, any Additional Notes, treated as a single class of securities.

18

 

          “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements (including reimbursement obligations with respect to letters of credit), damages and
other liabilities, and guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation
governing any Indebtedness.

          “Officer” means the Chairman of the Board, the Chief Executive Officer, the Chief
Operating Officer, the Chief Financial Officer, the Chief Accounting Officer, the President, any
Vice President, a Director, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant
Secretary of the Issuer.

          “Officer’s Certificate” means a certificate signed by an Officer of the Issuer.

          “Parent Guarantor” means Celanese Corporation, a Delaware corporation.

          “Permitted Business” means the chemicals business and any services, activities or
businesses incidental or directly related or similar thereto, any line of business engaged in by
the Issuer and its Subsidiaries on the Issue Date or any business activity that is a reasonable
extension, development or expansion thereof or ancillary or complimentary thereto.

          “Permitted Debt” has the meaning assigned to such term in Section 4.2(b).

          “Permitted Investments” means:

     (1) any Investment by the Issuer in any Restricted Subsidiary or by a Restricted
Subsidiary in another Restricted Subsidiary;

     (2) any Investment in cash and Cash Equivalents or Investment Grade Securities;

     (3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a
Person that is engaged in a Permitted Business if as a result of such Investment (A) such
Person becomes a Restricted Subsidiary or (B) such Person, in one transaction or a series of
related transactions, is merged, consolidated or amalgamated with or into, or transfers or
conveys substantially all of its assets to, or is liquidated into, the Issuer or a
Restricted Subsidiary;

     (4) any Investment in securities or other assets not constituting cash or Cash
Equivalents and received in connection with an Asset Sale made pursuant to Section 4.10
hereof or any other disposition of assets not constituting an Asset Sale;

     (5) any Investment existing on the Issue Date and Investments made pursuant to
binding commitments in effect on the Issue Date;

     (6) (A) loans and advances to officers, directors and employees, not in excess of
$40.0 million in the aggregate outstanding at any one time and (B) loans and advances of
payroll payments and expenses to officers, directors and employees in each case incurred in
the ordinary course of business;

19

 

     (7) any Investment acquired by the Issuer or any Restricted Subsidiary (A) in
exchange for any other Investment or accounts receivable held by the Issuer or any such
Restricted Subsidiary in connection with or as a result of a bankruptcy, workout,
reorganization or recapitalization of the issuer of such other Investment or accounts
receivable or (B) as a result of a foreclosure by the Issuer or any Restricted Subsidiary
with respect to any secured Investment or other transfer of title with respect to any
secured Investment in default;

     (8) Hedging Obligations permitted under Section 4.2(b)(9);

     (9) any Investment by the Issuer or a Restricted Subsidiary in a Permitted Business
having an aggregate fair market value, taken together with all other Investments made
pursuant to this clause (9) that are at that time outstanding (without giving effect to the
sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of
cash and/or marketable securities), not to exceed 3.0% of Total Assets (with the fair market
value of each Investment being measured at the time made and without giving effect to
subsequent changes in value); provided, however, that if any Investment pursuant to this
clause (9) is made in any Person that is not a Restricted Subsidiary of the Issuer at the
date of the making of such Investment and such Person becomes a Restricted Subsidiary of the
Issuer after such date, such Investment shall thereafter be deemed to have been made
pursuant to clause (1) above and shall cease to have been made pursuant to this clause (9)
for so long as such Person continues to be a Restricted Subsidiary;

     (10) Investments the payment for which consists of Equity Interests of the Issuer
or any of its parent companies (exclusive of Disqualified Stock);

     (11) guarantees (including Guarantees) of Indebtedness permitted under Section 4.2
and performance guarantees incurred in the ordinary course of business;

     (12) any transaction to the extent it constitutes an Investment that is permitted
and made in accordance with the provisions of Section 4.5(b)(2), (6) and (7) hereof;

     (13) Investments of a Restricted Subsidiary acquired after the Issue Date or of an
entity merged into the Issuer or merged into or consolidated with a Restricted Subsidiary in
accordance with Article Five after the Issue Date to the extent that such Investments were
not made in contemplation of or in connection with such acquisition, merger or consolidation
and were in existence on the date of such acquisition, merger or consolidation;

     (14) guarantees by the Issuer or any Restricted Subsidiary of operating leases
(other than Capitalized Lease Obligations) or of other obligations that do not constitute
Indebtedness, in each case entered into by any Restricted Subsidiary in the ordinary course
of business;

     (15) guarantees issued in accordance with Section 4.2;

     (16) Investments consisting of licensing or contribution of intellectual property
pursuant to joint marketing arrangements with other Persons;

20

 

     (17) Investments consisting of purchases and acquisitions of inventory, supplies,
materials and equipment or purchases of contract rights or licenses or leases of
intellectual property, in each case in the ordinary course of business;

     (18) any Investment in a Securitization Subsidiary or any Investment by a
Securitization Subsidiary in any other Person in connection with a Qualified Securitization
Financing, including Investments of funds held in accounts permitted or required by the
arrangements governing such Qualified Securitization Financing or any related Indebtedness;
provided, however, that any Investment in a Securitization Subsidiary is in the form of a
Purchase Money Note, contribution of additional Securitization Assets or an equity interest;

     (19) additional Investments in joint ventures of the Issuer or any of its
Restricted Subsidiaries existing on the Issue Date in an aggregate amount not to exceed the
greater of (x) $250.0 million and (y) 3.0% of Total Assets;

     (20) JV Reinvestments;

     (21) Investments by the Captive Insurance Subsidiaries of a type customarily held
in the ordinary course of their business and consistent with insurance industry
standards; and

     (22) additional Investments by the Issuer or any of its Restricted Subsidiaries
having an aggregate fair market value, taken together with all other Investments made
pursuant to this clause (22), not to exceed the greater of (x) $400.0 million and (y) 5.0%
of Total Assets at the time of such Investment (with the fair market value of each
Investment being measured at the time made and without giving effect to subsequent changes
in value).

          “Permitted Liens” means the following types of Liens:

     (1) deposits of cash or government bonds made in the ordinary course of business to
secure surety or appeal bonds to which such Person is a party;

     (2) Liens in favor of issuers of performance, surety bid, indemnity, warranty,
release, appeal or similar bonds or with respect to other regulatory requirements or letters
of credit or bankers’ acceptances issued, and completion guarantees provided for, in each
case pursuant to the request of and for the account of such Person in the ordinary course of
its business or consistent with past practice;

     (3) Liens on property or shares of stock of a Person at the time such Person
becomes a Subsidiary; provided, however, that such Liens are not created or incurred in
connection with, or in contemplation of, such other Person becoming such a Subsidiary;
provided, further, however, that such Liens may not extend to any other property owned by
the Issuer or any Restricted Subsidiary;

     (4) Liens on property at the time the Issuer or a Restricted Subsidiary acquired
the property, including any acquisition by means of a merger or consolidation with or

21

 

into the Issuer or any Restricted Subsidiary; provided, however, that such Liens are not
created or incurred in connection with, or in contemplation of, such acquisition; provided,
further, however, that such Liens may not extend to any other property owned by the Issuer
or any Restricted Subsidiary;

     (5) Liens securing Indebtedness or other obligations of a Restricted Subsidiary
owing to the Issuer or another Restricted Subsidiary permitted to be incurred in accordance
with Section 4.2;

     (6) Liens securing Hedging Obligations so long as the related Indebtedness is
permitted to be incurred under the Indenture and is secured by a Lien on the same property
securing such Hedging Obligation;

     (7) Liens on specific items of inventory or other goods and proceeds of any Person
securing such Person’s obligations in respect of bankers’ acceptances issued or created for
the account of such Person to facilitate the purchase, shipment or storage of such inventory
or other goods;

     (8) Liens in favor of the Issuer or any Restricted Subsidiary;

     (9) Liens to secure any refinancing, refunding, extension, renewal or replacement
(or successive refinancings, refundings, extensions, renewals or replacements) as a whole,
or in part, of any Indebtedness secured by any Liens referred to in clauses (3), (4), (24),
(25) and (26)(y) of this definition; provided, however, that (A) such new Lien shall be
limited to all or part of the same property that secured the original Liens (plus
improvements on such property), and (B) the Indebtedness secured by such Lien at such time
is not increased to any amount greater than the sum of (1) the outstanding principal amount
or, if greater, committed amount of the Indebtedness described under clauses (3), (4), (24),
(25) and (26)(y) at the time the original Lien became a Permitted Lien under the Indenture
and (2) an amount necessary to pay any fees and expenses, including premiums, related to
such refinancing, refunding, extension, renewal or replacement;

     (10) Liens on Securitization Assets and related assets of the type specified in the
definition of “Securitization Financing” incurred in connection with any Qualified
Securitization Financing;

     (11) Liens for taxes, assessments or other governmental charges or levies not yet
delinquent, or which are being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted or for property taxes on property that the Issuer or one
of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment,
charge, levy or claim is to such property;

     (12) Liens securing judgments for the payment of money in an aggregate amount not
in excess of $100.0 million (except to the extent covered by insurance), unless such
judgments shall remain undischarged for a period of more than 30 consecutive days during
which execution shall not be effectively stayed;

22

 

     (13) (A) pledges and deposits made in the ordinary course of business in compliance
with the Federal Employers Liability Act or any other workers’ compensation, unemployment
insurance and other social security laws or regulations and deposits securing liability to
insurance carriers under insurance or self-insurance arrangements in respect of such
obligations and (B) pledges and deposits securing liability for reimbursement or
indemnification obligations of (including obligations in respect of letters of credit or
bank guarantees for the benefit of) insurance carriers providing property, casualty or
liability insurance to the Parent Guarantor, the Issuer or any Restricted Subsidiary;

     (14) landlord’s, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s,
construction or other like Liens arising in the ordinary course of business and securing
obligations that are not overdue by more than 30 days or that are being contested in good
faith by appropriate proceedings and in respect of which, if applicable, the Issuer or any
Restricted Subsidiary shall have set aside on its books reserves in accordance with GAAP;

     (15) zoning restrictions, easements, trackage rights, leases (other than
Capitalized Lease Obligations), licenses, special assessments, rights-of-way, restrictions
on use of real property and other similar encumbrances incurred in the ordinary course of
business that, in the aggregate, do not interfere in any material respect with the ordinary
conduct of the business of the Issuer or any Restricted Subsidiary;

     (16) Liens that are contractual rights of set-off (A) relating to the establishment
of depository relations with banks not given in connection with the issuance of
Indebtedness, (B) relating to pooled deposit or sweep accounts of the Issuer or any
Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in
the ordinary course of business of the Issuer and the Restricted Subsidiaries or
(C) relating to purchase orders and other agreements entered into with customers of the
Issuer or any Restricted Subsidiary in the ordinary course of business;

     (17) Liens arising solely by virtue of any statutory or common law provision
relating to banker’s liens, rights of set-off or similar rights;

     (18) Liens securing obligations in respect of trade-related letters of credit
permitted under Section 4.2 and covering the goods (or the documents of title in respect of
such goods) financed by such letters of credit and the proceeds and products thereof;

     (19) any interest or title of a lessor under any lease or sublease entered into by
the Issuer or any Restricted Subsidiary in the ordinary course of business;

     (20) licenses of intellectual property granted in a manner consistent with past
practice;

     (21) Liens in favor of customs and revenue authorities arising as a matter of law
to secure payment of customs duties in connection with the importation of goods;

23

 

     (22) Liens solely on any cash earnest money deposits made by the Issuer or any of
the Restricted Subsidiaries in connection with any letter of intent or purchase agreement
permitted hereunder;

     (23) other Liens securing obligations of not more than $100.0 million at any time
outstanding;

     (24) Liens securing Capitalized Lease Obligations permitted to be incurred pursuant
to Section 4.2 and Indebtedness permitted to be incurred under Section 4.2(b)(4); provided,
however, that such Liens securing Capitalized Lease Obligations or Indebtedness incurred
under Section 4.2(b)(4) may not extend to property owned by the Issuer or any Restricted
Subsidiary other than the property being leased or acquired pursuant to Section 4.2(b)(4)
(and any accessions or proceeds thereof);

     (25) Liens existing on the Issue Date (other than Liens in favor of the lenders
under the Credit Agreement);

     (26) Liens securing (x) Indebtedness under any Credit Facility permitted by Section
4.2(b)(1) and (y) other Indebtedness permitted to be incurred pursuant to Section 4.2 to the
extent that no additional Liens would be permitted to be incurred at such time in reliance
on subclause (x); provided that in the case of any such Indebtedness described in this
subclause (y), such Indebtedness, when aggregated with the amount of Indebtedness of the
Issuer and its Restricted Subsidiaries which is secured by a Lien, does not cause the Total
Secured Leverage Ratio to exceed 4.0 to 1.0; provided, further, that for purposes of this
clause (26) any revolving credit commitment shall be deemed to be Indebtedness incurred in
the full amount of such commitment on the date such commitment is established (and
thereafter, shall be included in “Secured Debt” on such basis for purposes of determining
the Total Secured Leverage Ratio under this clause (26) to the extent and for so long as
such revolving credit commitment remains outstanding) and any subsequent repayment and
borrowing under such revolving credit commitment shall be permitted to be secured by a Lien
pursuant to this clause (26);

     (27) Liens on the assets of a Foreign Subsidiary of the Issuer or any other
Subsidiary of the Issuer that is not a Guarantor Subsidiary and which secure Indebtedness or
other obligations of such Subsidiary (or of another Foreign Subsidiary or Subsidiary that is
not a Guarantor) that are permitted to be incurred under Section 4.2;

     (28) Liens on the assets of one or more Subsidiaries organized under the laws of
the People’s Republic of China securing Indebtedness permitted under Section 4.2; and

          (29) Liens on cash and cash equivalents of Captive Insurance Subsidiaries.

          “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or
other entity.

24

 

          “Preferred Stock” means any Equity Interest with preferential rights of payment of
dividends upon liquidation, dissolution or winding up.

          “Purchase Money Note” means a promissory note of a Securitization Subsidiary
evidencing a line of credit, which may be irrevocable, from the Parent Guarantor or any Subsidiary
of the Parent Guarantor to a Securitization Subsidiary in connection with a Qualified
Securitization Financing, which note is intended to finance that portion of the purchase price that
is not paid in cash or a contribution of equity and which (a) shall be repaid from cash available
to the Securitization Subsidiary, other than (i) amounts required to be established as reserves,
(ii) amounts paid to investors in respect of interest, (iii) principal, Securitization Fees and
other amounts owing to such investors and (iv) amounts paid in connection with the purchase of
newly generated receivables and (b) may be subordinated to the payments described in clause (a).

          “Qualified Proceeds” means assets that are used or useful in, or Capital Stock of any
Person engaged in, a Permitted Business; provided that the fair market value of any such assets or
Capital Stock shall be determined by the Board of Directors in good faith, except that in the event
the value of any such assets or Capital Stock exceeds $40 million or more, the fair market value
shall be determined by an Independent Financial Advisor.

          “Qualified Securitization Financing” means any Securitization Financing of a
Securitization Subsidiary that meets the following conditions: (i) the Board of Directors shall
have determined in good faith that such Qualified Securitization Financing (including financing
terms, covenants, termination events and other provisions) is in the aggregate economically fair
and reasonable to the Issuer and the Securitization Subsidiary, (ii) all sales of Securitization
Assets and related assets to the Securitization Subsidiary are made at fair market value (as
determined in good faith by the Issuer) and (iii) the financing terms, covenants, termination
events and other provisions thereof shall be market terms (as determined in good faith by the
Issuer) and may include Standard Securitization Undertakings. The grant of a security interest in
any Securitization Assets of the Issuer or any of its Restricted Subsidiaries (other than a
Securitization Subsidiary) to secure Indebtedness under the Credit Agreement and any Refinancing
Indebtedness with respect thereto shall not be deemed a Qualified Securitization Financing.

          “Rating Agency” means each of (i) S&P and Moody’s or (ii) if either S&P or Moody’s or
both of them are not making ratings of the Notes publicly available, a nationally recognized U.S.
rating agency or agencies, as the case may be, selected by the Issuer, which will be substituted
for S&P or Moody’s or both, as the case may be.

          “Rating Category” means (i) with respect to S&P, any of the following categories (any
of which may include a “+” or “-”): AAA, AA, A, BBB, BB, B, CCC, CC, C, R, SD and D (or equivalent
successor categories); (ii) with respect to Moody’s, any of the following categories (any of which
may include a “1”, “2” or “3”): Aaa, Aa, A, Baa, Ba, B, Caa, Ca, and C (or equivalent successor
categories), and (iii) the equivalent of any such categories of S&P or Moody’s used by another
Rating Agency, if applicable.

          “Rating Decline” means that at any time within the earlier of (i) 90 days after the
date of public notice of a Change of Control, or of the Issuers’ or the Parent Guarantor’s

25

 

intention or the intention of any Person to effect a Change of Control, and (ii) the occurrence of
the Change of Control (which period shall in either event be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by a Rating Agency which
announcement is made prior to the date referred to in clause (ii)), the rating of the Notes is
decreased by either Rating Agency by one or more Gradations and the rating by both Rating Agencies
on the Notes following such downgrade is not an Investment Grade Rating.

          “Restricted Investment” means an Investment other than a Permitted Investment.

          “Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the
Issuer that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of
an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be
included in the definition of Restricted Subsidiary.

          “Responsible Officer” of any Person means any executive officer or financial officer
of such Person and any other officer or similar official thereof responsible for the administration
of the obligations of such Person in respect of the Indenture.

          “S&P” means Standard and Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. and its successors.

          “Secured Debt” means any Indebtedness secured by a Lien.

          “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.

          “Securitization Assets” means any accounts receivable, inventory, royalty or revenue
streams from sales of inventory subject to a Qualified Securitization Financing.

          “Securitization Fees” means distributions or payments made directly or by means of
discounts with respect to any participation interest issued or sold in connection with, and other
fees paid to a Person that is not a Securitization Subsidiary in connection with any Qualified
Securitization Financing.

          “Securitization Financing” means any transaction or series of transactions that may be
entered into by the Issuer or any of its Subsidiaries pursuant to which the Issuer or any of its
Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case
of a transfer by the Issuer or any of its Subsidiaries) or (b) any other Person (in the case of a
transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization
Assets (whether now existing or arising in the future) of the Issuer or any of its Subsidiaries,
and any assets related thereto including all collateral securing such Securitization Assets, all
contracts and all guarantees or other obligations in respect of such Securitization Assets,
proceeds of such Securitization Assets and other assets which are customarily transferred or in
respect of which security interests are customarily granted in connection with asset securitization
transactions involving Securitization Assets and any Hedging Obligations entered into by the Issuer
or any such Subsidiary in connection with such Securitization Assets.

26

 

          “Securitization Repurchase Obligation” means any obligation of a seller of
Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets
arising as a result of a breach of a representation, warranty or covenant or otherwise, including
as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute,
off-set or counterclaim of any kind as a result of any action taken by, any failure to take action
by or any other event relating to the seller.

          “Securitization Subsidiary” means a Wholly Owned Subsidiary of the Issuer (or another
Person formed for the purposes of engaging in a Qualified Securitization Financing in which the
Issuer or any Subsidiary of the Issuer makes an Investment and to which the Parent Guarantor or any
Subsidiary of the Issuer transfers Securitization Assets and related assets) which engages in no
activities other than in connection with the financing of Securitization Assets of the Issuer or
its Subsidiaries, all proceeds thereof and all rights (contractual and other), collateral and other
assets relating thereto, and any business or activities incidental or related to such business, and
which is designated by the Board of Directors or such other Person (as provided below) as a
Securitization Subsidiary and (a) no portion of the Indebtedness or any other obligations
(contingent or otherwise) of which (i) is guaranteed by the Issuer or any other Subsidiary of the
Issuer (excluding guarantees of obligations (other than the principal of, and interest on,
Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates
the Parent Guarantor or any other Subsidiary of the Issuer in any way other than pursuant to
Standard Securitization Undertakings or (iii) subjects any property or asset of the Issuer or any
other Subsidiary of the Issuer, directly or indirectly, contingently or otherwise, to the
satisfaction thereof, other than pursuant to Standard Securitization Undertakings, (b) with which
neither the Issuer nor any other Subsidiary of the Issuer has any material contract, agreement,
arrangement or understanding (other than Standard Securitization Undertakings) other than on terms
which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than
those that might be obtained at the time from Persons that are not Affiliates of the Parent
Guarantor and (c) to which neither the Issuer nor any other Subsidiary of the Issuer has any
obligation to maintain or preserve such entity’s financial condition or cause such entity to
achieve certain levels of operating results. Any such designation by the Board of Directors or
such other Person shall be evidenced to the Trustee by filing with the Trustee a certified copy of
the resolution of the Board of Directors or such other Person giving effect to such designation and
an Officer’s Certificate certifying that such designation complied with the foregoing conditions.

          “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the
Securities Act, as such Regulation is in effect on the date hereof.

          “Standard Securitization Undertakings” means representations, warranties, covenants
and indemnities entered into by Parent Guarantor or any Subsidiary thereof which Parent Guarantor
has determined in good faith to be customary in a Securitization Financing, including those
relating to the servicing of the assets of a Securitization Subsidiary, it being understood that
any Securitization Repurchase Obligation shall be deemed to be a Standard Securitization
Undertaking.

27

 

          “Stated Maturity” means, with respect to any installment of interest or principal on
any series of Indebtedness, the day on which the payment of interest or principal was scheduled to
be paid in the original documentation governing such Indebtedness, and will not include any
contingent obligations to repay, redeem or repurchase any such interest or principal prior to the
date originally scheduled for the payment thereof.

          “Subordinated Indebtedness” means (a) with respect to the Issuer, any Indebtedness of
the Issuer that is by its terms subordinated in right of payment to the Notes and (b) with respect
to any Guarantor of the Notes, any Indebtedness of such Guarantor that is by its terms subordinated
in right of payment to its Guarantee of the Notes.

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

     (1) any corporation, association or other business entity, of which more than 50%
of the total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by that Person or one or
more of the other Subsidiaries of that Person (or a combination thereof); and

     (2) any partnership, joint venture, limited liability company or similar entity of
which (x) more than 50% of the capital accounts, distribution rights, total equity and
voting interests or general or limited partnership interests, as applicable, are owned or
controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries
of that Person or a combination thereof whether in the form of membership, general, special
or limited partnership or otherwise and (y) such Person or any Restricted Subsidiary of such
Person is a controlling general partner or otherwise controls such entity;

provided, that Estech GmbH & Co. KG and Estech Managing GmbH shall not constitute Subsidiaries of
the Issuer.

          “Total Assets” means the total consolidated assets of the Issuer and its Restricted
Subsidiaries, as shown on the most recent balance sheet of the Issuer.

          “Total Secured Leverage Ratio” means, with respect to any Person at any date of
calculation, the ratio of (i) Secured Debt of such Person and its Restricted Subsidiaries (other
than Secured Debt secured by Liens permitted under clauses (5) and (8) of the definition of
“Permitted Liens”) as of such date of calculation that would be required to be reflected as
liabilities of such Person on a consolidated balance sheet (excluding the notes thereto and
determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the
most recently ended four fiscal quarters for which internal financial statements are available. In
the event that the Issuer or any Restricted Subsidiary incurs, assumes, guarantees or redeems any
Indebtedness or issues or repays Disqualified Stock or Preferred Stock subsequent to the
commencement of the period for which the Total Secured Leverage Ratio is being calculated but on or
prior to the event for which the calculation of the Total Secured Leverage Ratio is made, then the
Total Secured Leverage Ratio shall be calculated giving pro forma effect to such incurrence,
assumption, guarantee or repayment of Indebtedness, or such issuance or

28

 

redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning
of the applicable four-quarter period.

          “Transactions” means the transactions contemplated by (i) this offering of the Notes
and (ii) the concurrent amendment of the Credit Agreement.

          “Treasury Rate” means, with respect to the Notes, as of the applicable redemption
date, the yield to maturity as of such redemption date of United States Treasury securities with a
constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release
H.15 (519) that has become publicly available at least two Business Days prior to such redemption
date (or, if such Statistical Release is no longer published, any publicly available source of
similar market data)) most nearly equal to the period from such redemption date to June 15, 2021;
provided, however, that if the period from such redemption date to June 15, 2021 is less than one
year, the weekly average yield on actually traded United States Treasury securities adjusted to a
constant maturity of one year will be used.

          “Unrestricted Subsidiary” means (i) any Subsidiary of the Issuer that at the time of
determination is an Unrestricted Subsidiary (as designated by the Board of Directors, as provided
below) and (ii) any Subsidiary of an Unrestricted Subsidiary. The Board of Directors may designate
any Subsidiary of the Issuer (including any existing Subsidiary and any newly acquired or newly
formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its
Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any
property of, the Issuer or any Restricted Subsidiary of the Issuer (other than any Subsidiary of
the Subsidiary to be so designated), provided that (a) such designation complies with Section 4.1
and (b) each of (I) the Subsidiary to be so designated and (II) its Subsidiaries has not at the
time of designation, and does not thereafter, create, incur, issue, assume, guarantee or otherwise
become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender
has recourse to any of the assets of the Issuer or any Restricted Subsidiary. The Board of
Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that,
such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of
the Issuer of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation
will only be permitted if (i) such Indebtedness is permitted under Section 4.2, calculated on a pro
forma basis as if such designation had occurred at the beginning of the fourth quarter reference
period; and (ii) immediately after giving effect to such designation, no Default or Event of
Default shall have occurred and be continuing. Any such designation by the Board of Directors
shall be notified by the Issuer to the Trustee by promptly filing with the Trustee a copy of the
board resolution giving effect to such designation and an Officer’s Certificate certifying that
such designation complied with the foregoing provisions.

          “U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other
than U.S. Dollars, at any time of determination thereof, the amount of U.S. Dollars obtained by
translating such other currency involved in such computation into U.S. Dollars at the spot rate for
the purchase of U.S. Dollars with the applicable other currency as published in the Financial Times
on the date that is two Business Days prior to such determination.

29

 

          “Voting Stock” of any Person as of any date means the Capital Stock of such Person
that is at the time entitled to vote in the election of the Board of Directors of such Person.

          “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any
date, the number of years obtained by dividing:

     (1) the sum of the products obtained by multiplying (a) the amount of each then
remaining installment, sinking fund, serial maturity or other required payments of
principal, including payment at final maturity, in respect of the Indebtedness, by (b) the
number of years (calculated to the nearest one-twelfth) that will elapse between such date
and the making of such payment; by

     (2) the then outstanding principal amount of such Indebtedness.

          “Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a
Restricted Subsidiary.

          “Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the
outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying
shares or nominee or other similar shares required pursuant to applicable law) shall at the time be
owned by such Person or by one or more Wholly Owned Subsidiaries of such Person or by such Person
and one or more Wholly Owned Subsidiaries of such Person.

SECTION 1.2. Other Definitions.

	 	 	 
	 	 	Defined in
	Term	 	Section
	“Affiliate Transaction”
	 	4.5(a)
	“Asset Sale Offer”
	 	4.10(b)
	“Change of Control Offer”
	 	4.9(b)
	“Change of Control Payment”
	 	4.9(a)
	“Change of Control Payment Date”
	 	4.9(b)
	“Covenant Suspension Event”
	 	4.11(a)
	“Event of Default”
	 	7.1
	“Excess Proceeds”
	 	4.10(b)
	“incur”
	 	4.2(a)
	“Offer Period”
	 	4.10(d)
	“Refinancing Indebtedness”
	 	4.2(b)(13)
	“Refunding Capital Stock”
	 	4.1(b)(2)
	“Required Filing Date”
	 	4.8
	“Restricted Payment”
	 	4.1(a)
	“Retired Capital Stock”
	 	4.1(b)(2)
	“Reversion Date”
	 	4.11(b)
	“Successor Company”
	 	5.1(a)(1)
	“Successor Guarantor”
	 	5.2(a)(1)
	“Suspended Covenants”
	 	4.11(a)
	“Suspension Period”
	 	4.11(a)

30

 

SECTION 1.3. Rules of Construction.

          For all purposes of this First Supplemental Indenture, except as otherwise expressly provided
or unless the context otherwise requires:

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

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

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

     (4) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to the Indenture as a whole and not to any particular article, section or other
subdivision; and

     (5) all references used herein to the male gender shall include the female gender.

ARTICLE TWO

SECURITIES FORMS

SECTION 2.1. Creation of the Notes; Designations.

          In accordance with Section 2.2 of the Base Indenture, the Issuer hereby creates the Notes as a
series of its Securities issued pursuant to the Indenture. In accordance with Section 2.2. of the
Base Indenture, the Notes shall be known and designated as the “57⁄8% Senior Notes due 2021” of the
Issuer.

SECTION 2.2. Forms Generally.

          The Notes and the Trustee’s certificate of authentication shall be in the forms set forth in
Exhibit I with the form of notation of Guarantee to be endorsed thereon set forth in Exhibit II
attached hereto, with such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by the Indenture and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be required to comply with
the rules of any securities exchange or as may, consistently herewith, be determined by the
officers executing such Notes, as evidenced by their execution of the Notes.

31

 

Any portion of the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on
the face of the Note.

          The Notes may be printed, lithographed or engraved or produced by any combination of these
methods or in any other manner, as determined by the officers of the Issuer executing such Notes,
as evidenced by their manual execution of such Notes.

SECTION 2.3. Title and Terms of Notes.

          (a) The aggregate principal amount of Notes which shall be authenticated and delivered on the
Issue Date under the Indenture shall be $400,000,000; provided, however, that the Issuer from time
to time, without giving notice to or seeking the consent of the Holders of the Notes, may issue
additional notes (the “Additional Notes”) in any amount having the same terms as the Notes
in all respects, except for the issue date, the issue price and the initial interest payment date.
Any such Additional Notes shall be authenticated by the Trustee upon receipt of an Authentication
Order to that effect, and when so authenticated, will constitute “Notes” for all purposes of the
Indenture and will (together with all other Notes issued under the Indenture) constitute a single
series of Debt Securities under the Indenture. The Notes will be issued only in fully registered
form without coupons in denominations of $1,000 and integral multiples of $1,000 in excess thereof.

          (b) The principal amount of the Notes is due and payable in full on June 15, 2021.

          (c) The Notes shall bear interest at the rate of 5.875% per annum (computed on the basis of a
360-day year comprising twelve 30-day months) as set forth in Exhibit I.

          (d) Principal of, premium, if any and interest on the Notes shall be payable as set forth in
Exhibit I.

          (e) Other than as provided in Article Three of this First Supplemental Indenture, the Notes
shall not be redeemable.

          (f) The Notes shall not be entitled to the benefit of any mandatory redemption or sinking
fund.

          (g) The Notes shall not be convertible into any other securities.

          (h) Section 2.7 of the Base Indenture shall apply to the Notes.

          (i) The Issuer initially appoints the Trustee as Registrar and Paying Agent with respect to
the Notes until such time as the Trustee has resigned or a successor has been appointed.

          (j) The Notes (and the notation of Guarantee endorsed thereon) will be issuable in the form of
one or more Global Securities and the Depositary for such Global Security will be the Depository
Trust Company.

32

 

          (k) The Issuer shall pay principal of, premium, if any, and interest on the Notes in money of
the United States of America that at the time of payment is legal tender for payment of public and
private debts.

          (l) A Holder may transfer or exchange Notes only in accordance with the Indenture. Upon any
transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements or transfer documents. No service charge shall be made for any
registration of transfer or exchange, but the Issuer or the Trustee may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed in connection
therewith. The Issuer is not required to transfer or exchange any Note for a period of 15 days
before a selection of Notes to be redeemed or purchased.

ARTICLE THREE

REDEMPTION

SECTION 3.1. Optional Redemption.

          (a) The Notes may be redeemed, in whole or in part, at the option of the Issuer upon not less
than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered
address, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed
plus the Applicable Premium as of, and accrued and unpaid interest to the applicable redemption
date (subject to the right of holders of record on the relevant record date to receive interest due
on the relevant interest payment date).

          (b) In addition, the Issuer may acquire Notes by means other than a redemption, whether by
tender offer, open market purchases, negotiated transactions or otherwise, in accordance with
applicable securities laws, so long as such acquisition does not otherwise violate the terms of the
Indenture.

SECTION 3.2. Optional Redemption Procedures.

          The provisions of Article III of the Base Indenture shall apply in the case of a redemption
pursuant to this Article Three.

ARTICLE FOUR

COVENANTS

          Holders of the Notes shall be entitled to the benefit of all covenants in Article IV of the
Base Indenture and the following additional covenants, which shall be deemed to be provisions of
the Base Indenture with respect to the Notes; provided that this Article Four shall not become a
part of the terms of any other series of Securities:

33

 

SECTION 4.1. Restricted Payments.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly:

     (i) declare or pay any dividend or make any other payment or distribution on account of
the Issuer’s or any of its Restricted Subsidiaries’ Equity Interests, including any dividend
or distribution payable in connection with any merger or consolidation (other than (A)
dividends or distributions by the Issuer payable in Capital Stock (other than Disqualified
Stock) of the Issuer or in options, warrants or other rights to purchase such Capital Stock
(other than Disqualified Stock) or (B) dividends or distributions by a Restricted Subsidiary
to the Issuer or any other Restricted Subsidiary so long as, in the case of any dividend or
distribution payable on or in respect of any class or series of securities issued by a
Restricted Subsidiary other than a Wholly Owned Subsidiary, the Issuer or a Restricted
Subsidiary receives at least its pro rata share of such dividend or distribution in
accordance with its Equity Interests in such class or series of securities);

     (ii) purchase, redeem or otherwise acquire or retire for value any Equity Interests of
the Issuer or any direct or indirect parent corporation of the Issuer, including in
connection with any merger or consolidation involving the Issuer;

     (iii) make any principal payment on, or redeem, repurchase, defease or otherwise
acquire or retire for value, in each case prior to any scheduled repayment, sinking fund
payment or maturity, any Subordinated Indebtedness (other than (x) Indebtedness permitted
under Section 4.2(b)(7) and (8) or (y) the purchase, repurchase or other acquisition of
Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation,
principal installment or final maturity, in each case due within one year of the date of
purchase, repurchase or acquisition); or

     (iv) make any Restricted Investment

(all such payments and other actions set forth in these clauses (i) through (iv) being collectively
referred to as “Restricted Payments”), unless, at the time of and after giving effect to
such Restricted Payment:

     (1) no Default or Event of Default has occurred and is continuing or would
occur as a consequence of such Restricted Payment;

     (2) the Issuer would, at the time of such Restricted Payment and after giving
pro forma effect thereto as if such Restricted Payment had been made at the
beginning of the applicable four-quarter period, have been permitted to incur at
least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio
test set forth in Section 4.2(a); and

     (3) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Issuer and the Restricted Subsidiaries after
September 24, 2010 (excluding Restricted Payments permitted by clauses (2), (3),
(4), (6), (8), (9), (10), (12), (14), (15), (17) and (18) of Section 4.1(b) (it
being

34

 

understood that the declaration and payment of any Restricted Payments made
pursuant to clause (1) shall be counted only once)), is less than the sum, without
duplication, of

     (A) 50% of the Consolidated Net Income of the Issuer for the period (taken as
one accounting period) from October 1, 2010, to the end of the Issuer’s most
recently ended fiscal quarter for which internal financial statements are available
at the time of such Restricted Payment (or, in the case such Consolidated Net Income
for such period is a deficit, minus 100% of such deficit), plus

     (B) 100% of the aggregate net cash proceeds and the fair market value, as
determined in good faith by the Board of Directors, of property and marketable
securities received by the Issuer since September 24, 2010 from the issue or sale of
(x) Equity Interests of the Issuer (other than (i) Excluded Contributions, (ii)
Designated Preferred Stock and (iii) cash proceeds and marketable securities
received from the sale of Equity Interests to members of management, directors or
consultants of the Issuer, any direct or indirect parent corporation of the Issuer
and the Subsidiaries to the extent such amounts have been applied to Restricted
Payments made in accordance with Section 4.1(b)(4)) and, to the extent actually
contributed to the Issuer, Equity Interests of the Issuer’s direct or indirect
parent entities and (y) debt securities of the Issuer that have been converted into
such Equity Interests of the Issuer (other than Refunding Capital Stock (as defined
below) or Equity Interests or convertible debt securities of the Issuer sold to a
Restricted Subsidiary or the Issuer, as the case may be, and other than Disqualified
Stock or debt securities that have been converted into Disqualified Stock), plus

     (C) 100% of the aggregate amount of cash and the fair market value, as
determined in good faith by the Board of Directors, of property and marketable
securities contributed to the capital of the Issuer after September 24, 2010 (other
than (i) Excluded Contributions and (ii) contributions by a Restricted Subsidiary),
plus

     (D) without duplication of any amounts included in Section 4.1(b)(4) and to the
extent not already included in Consolidated Net Income, 100% of the aggregate amount
received in cash and the fair market value, as determined in good faith by the Board
of Directors, of property and marketable securities received by means of (A) the
sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of
Restricted Investments made by the Issuer or its Restricted Subsidiaries and
repurchases and redemptions of such Restricted Investments from the Issuer or its
Restricted Subsidiaries and repayments of loans or advances which constitute
Restricted Investments by the Issuer or its Restricted Subsidiaries or (B) the sale
(other than to the Issuer or a Restricted Subsidiary) of the Capital Stock of an
Unrestricted Subsidiary or a distribution from an Unrestricted Subsidiary (other
than in each case to the extent the Investment in such Unrestricted Subsidiary was
made by a Restricted Subsidiary pursuant to

35

 

Section 4.1(b)(5) or (14) or to the
extent such Investment constituted a Permitted Investment) or a dividend from an
Unrestricted Subsidiary, plus

     (E) in the case of the redesignation of an Unrestricted Subsidiary as a
Restricted Subsidiary or the merger or consolidation of an Unrestricted Subsidiary
into the Issuer or a Restricted Subsidiary or the transfer of assets of an
Unrestricted Subsidiary to the Issuer or a Restricted Subsidiary, the fair market
value of the Investment in such Unrestricted Subsidiary, as determined by the Board
of Directors in good faith at the time of the redesignation of such Unrestricted
Subsidiary as a Restricted Subsidiary or at the time of such merger, consolidation
or transfer of assets (other than an Unrestricted Subsidiary to the extent the
Investment in such Unrestricted Subsidiary was made by a Restricted Subsidiary
pursuant to Section 4.1(b)(5) or Section 4.1(b)(14) or to the extent such Investment
constituted a Permitted Investment).

(b) The provisions of Section 4.1(a) shall not prohibit:

     (1) the payment of any dividend within 60 days after the date of declaration
thereof, if at the date of declaration such payment would have complied with the
provisions of the Indenture;

     (2) (A) the redemption, repurchase, retirement or other acquisition of any
Equity Interests of the Issuer or any direct or indirect parent corporation
(“Retired Capital Stock”) or Subordinated Indebtedness, as the case may be,
in exchange for or out of the proceeds of the substantially concurrent sale (other
than to a Restricted Subsidiary or the Issuer) of Equity Interests of the Issuer or
contributions to the equity capital of the Issuer (in each case, other than
Disqualified Stock) (“Refunding Capital Stock”) and (B) the declaration and
payment of accrued dividends on the Retired Capital Stock out of the proceeds of the
substantially concurrent sale (other than to a Restricted Subsidiary or the Issuer)
of Refunding Capital Stock;

     (3) the redemption, repurchase or other acquisition or retirement of
Subordinated Indebtedness made by exchange for, or out of the proceeds of the
substantially concurrent sale of, new Indebtedness of the borrower thereof, which is
incurred in compliance with Section 4.2 so long as (A) the principal amount of such
new Indebtedness does not exceed the principal amount of the Subordinated
Indebtedness being so redeemed, repurchased, acquired or retired for value plus the
amount of any reasonable premium required to be paid, (B) such new Indebtedness is
subordinated to the Notes and any such applicable Guarantees at least to the same
extent as such Subordinated Indebtedness so purchased, exchanged, redeemed,
repurchased, acquired or retired for value, (C) such new Indebtedness has a final
scheduled maturity date equal to or later than the final scheduled maturity date of
the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired
and (D) such new Indebtedness has a Weighted Average Life to Maturity equal to or
greater than the remaining Weighted

36

 

Average Life to Maturity of the Subordinated
Indebtedness being so redeemed, repurchased, acquired or retired;

     (4) a Restricted Payment to pay for the repurchase, retirement or other
acquisition (or dividends to any direct or indirect parent company of Holdings or
the Issuer to finance any such repurchase, retirement or other acquisition) or
retirement for value of common Equity Interests of the Issuer or any of its direct
or indirect parent entities held by any future, present or former employee, director
or consultant of the Issuer, any of its Subsidiaries or (to the extent such person
renders services to the businesses of the Issuer and its Subsidiaries) the Issuer’s
direct or indirect parent entities, pursuant to any management equity plan or stock
option plan or any other management or employee benefit plan or agreement or
arrangement; provided, however, that the aggregate amount of all such Restricted
Payments made under this clause (4) does not exceed in any calendar year $40.0
million (with unused amounts in any calendar year being carried over to succeeding
calendar years subject to a maximum aggregate carry over amount in any given year
not to exceed $40.0 million); and provided, further, that such amount in any
calendar year may be increased by an amount not to exceed (A) the cash proceeds from
the sale of Equity Interests of the Issuer and, to the extent contributed to the
Issuer, Equity Interests of any of its direct or indirect parent entities, in each
case to members of management, directors or consultants of the Issuer, any of its
Subsidiaries or (to the extent such person renders services to the businesses of the
Issuer and its Subsidiaries) the Issuer’s direct or indirect parent entities, that
occurs after the Issue Date plus (B) the cash proceeds of key man life insurance
policies received by the Issuer or its Restricted Subsidiaries, or by any direct or
indirect parent entity to the extent contributed to the Issuer, after the Issue Date
(provided that the Issuer may elect to apply all or any portion of the aggregate
increase contemplated by clauses (A) and (B) above in any calendar year) less (C)
the amount of any Restricted Payments previously made pursuant to clauses (A) and
(B) of this clause (4);

     (5) Investments in Unrestricted Subsidiaries having an aggregate fair market
value, taken together with all other Investments made pursuant to this clause (5)
that are at the time outstanding, without giving effect to the sale of an
Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of
cash and/or marketable securities, not to exceed $100.0 million at the time of such
Investment (with the fair market value of each Investment being measured at the time
made and without giving effect to subsequent changes in value);

     (6) repurchases of Equity Interests deemed to occur upon exercise of stock
options or warrants if such Equity Interests represent a portion of the exercise
price of such options or warrants, and repurchases of Capital Stock deemed to occur
upon the withholding of a portion of the Capital Stock granted or awarded to an
employee to pay for the taxes payable by such employee upon such grant or award;

37

 

     (7) to the extent no Default in any payment in respect of principal or interest
under the Notes or the Credit Agreement or Event of Default has occurred and is
continuing or will occur as a consequence thereof, the payment of regular
cash quarterly dividends on the Issuer’s Capital Stock, and repurchases of
Capital Stock of the Issuer or any direct or indirect parent of the Issuer, in an
aggregate amount not to exceed $75.0 million in any calendar year;

     (8) Investments that are made with Excluded Contributions;

     (9) the declaration and payment of dividends to, or the making of loans to, any
direct or indirect parent of the Issuer in amounts required for it to pay:

     (A) (i) overhead, tax liabilities of (or payable by) any direct or indirect
parent of the Issuer, legal, accounting and other professional fees and expenses,
(ii) fees and expenses related to any equity offering, investment or acquisition
permitted hereunder (whether or not successful) and (iii) other fees and expenses in
connection with the maintenance of its existence and its ownership of the Issuer;
and

     (B) federal, state or local income taxes (as the case may be) to the extent
such income taxes are attributable to the income of the Issuer and its Subsidiaries;
provided, however, that the amount of such payments in respect of any tax year does
not exceed the amount that the Issuer and its Subsidiaries would have been required
to pay in respect of federal, state or local taxes (as the case may be) in respect
of such year if the Issuer and its Subsidiaries paid such taxes directly as a
stand-alone taxpayer (or stand-alone group of which the Issuer or any Subsidiary is
the parent);

     (10) Distributions or payments of Securitization Fees;

     (11) Restricted Payments under hedge and warrant transactions entered into in
connection with a convertible notes offering of the Parent Guarantor; provided that
the proceeds of such offering are contributed to the Issuer ;

     (12) declaration and payment of dividends to holders of any class or series of
Disqualified Stock of the Issuer or any Restricted Subsidiary issued in accordance
with Section 4.2 to the extent such dividends are included in the definition of
Fixed Charges;

     (13) other Restricted Payments in an aggregate amount not to exceed the greater
of (x) $200.0 million and (y) 3.0% of Total Assets;

     (14) the declaration and payment of dividends or distributions to holders of
any class or series of Designated Preferred Stock issued after the Issue Date and
the declaration and payment of dividends to any direct or indirect parent company of
the Issuer, the proceeds of which will be used to fund the payment of dividends to
holders of any class or series of Designated Preferred Stock of any

38

 

direct or
indirect parent company of the Issuer issued after the Issue Date; provided,
however, that (A) for the most recently ended four full fiscal quarters
for which internal financial statements are available immediately preceding the
date of issuance of such Designated Preferred Stock, after giving effect to such
issuance on the first day of such period (and the payment of dividends or
distributions) on a pro forma basis, the Issuer would have had a Fixed Charge
Coverage Ratio of at least 2.00 to 1.00 and (B) the aggregate amount of dividends
declared and paid pursuant to this clause (14) does not exceed the net cash proceeds
actually received by the Issuer from any such sale of Designated Preferred Stock
issued after the Issue Date;

     (15) the distribution, as a dividend or otherwise, of shares of Capital Stock
of, or Indebtedness owed to the Issuer or a Restricted Subsidiary of the Issuer by,
Unrestricted Subsidiaries;

     (16) the repurchase, redemption or other acquisition or retirement for value of
any Subordinated Indebtedness pursuant to the provisions similar to those described
under Section 4.9 and Section 4.10; provided that all Notes tendered by holders of
the Notes in connection with the related Change of Control Offer or Asset Sale
Offer, as applicable, have been repurchased, redeemed or acquired for value;

     (17) any Restricted Payments for the purpose of enabling any direct or indirect
parent of the Issuer to pay (i) interest on Indebtedness issued by such Person after
the Issue Date and (ii) fees and expenses incurred in connection with the issuance,
refinancing, exchange or retirement of any such Indebtedness, in each case to the
extent the net cash proceeds from the issuance of such Indebtedness are contributed
to the Issuer (or used to refinance previously issued Indebtedness used for such
purpose); and

     (18) the making of any Restricted Payment if, at the time of the making of such
Restricted Payment, and after giving effect thereto (including, without limitation,
the incurrence of any Indebtedness to finance such payment), the Consolidated Total
Leverage Ratio would not exceed 3.50 to 1.00;

provided, however, that at the time of, and after giving effect to, any Restricted Payment
permitted under clauses (2) (with respect to the payment of dividends on Refunding Capital Stock
pursuant to clause (B) thereof), (5), (7), (11), (13), (14), (15), (16), (17) and (18) above, no
Default or Event of Default shall have occurred and be continuing or would occur as a consequence
thereof.

          (c) The amount of all Restricted Payments (other than cash) will be the fair market value on
the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or
issued by the Issuer or such Subsidiary, as the case may be, pursuant to the Restricted Payment.
The fair market value of any assets or securities that are required to be valued by this Section
4.1 will be determined in good faith by the Board of Directors.

39

 

          (d) The Issuer shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary
except pursuant to the second to last sentence of the definition of Unrestricted Subsidiary. For purposes of designating any Restricted Subsidiary as an
Unrestricted Subsidiary, all outstanding investments by the Issuer and the Restricted Subsidiaries
(except to the extent repaid) in the Subsidiary so designated will be deemed to be Restricted
Payments in an amount determined as set forth in the second paragraph of the definition of
Investments. Such designation will be permitted only if a Restricted Payment in such amount would
be permitted at such time under this Section 4.1 or the definition of Permitted Investments and if
such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted
Subsidiaries will not be subject to any of the restrictive covenants described in the Indenture.

SECTION 4.2. Incurrence of Indebtedness and Issuance of Preferred Stock.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness
(including Acquired Debt), and the Issuer shall not permit any of its Restricted Subsidiaries to
issue any shares of Preferred Stock; provided, however, that the Issuer and any Restricted
Subsidiary may incur Indebtedness (including Acquired Debt) and any Restricted Subsidiary may issue
Preferred Stock if the Fixed Charge Coverage Ratio for the Issuer’s most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the
date on which such additional Indebtedness is incurred or such Preferred Stock is issued would have
been at least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of
the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Preferred
Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred
at the beginning of such four-quarter period.

          (b) The limitations set forth in Section 4.2(a) shall not prohibit the incurrence of any of
the following (collectively, “Permitted Debt”):

     (1) Indebtedness under Credit Facilities together with the incurrence of the guarantees
thereunder and the issuance and creation of letters of credit and bankers’ acceptances
thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal
amount equal to the face amount thereof), up to an aggregate principal amount of $3,500.0
million outstanding at any one time;

     (2) Indebtedness represented by the Notes issued on the Issue Date (including any
Guarantee);

     (3) Existing Indebtedness (other than Indebtedness described in clauses (1) and (2));

     (4) Indebtedness (including Capitalized Lease Obligations) incurred or issued by the
Issuer or any Restricted Subsidiary to finance the purchase, lease or improvement of
property (real or personal) or equipment that is used or useful in a Permitted Business
(whether through the direct purchase of assets or the Capital Stock of any Person owning
such assets) in an aggregate principal amount that, including all Refinancing

40

 

Indebtedness
incurred to renew, refund, refinance, replace defease or discharge any
Indebtedness incurred pursuant to this clause (4), does not exceed the greater of (x)
$400.0 million and (y) 5.0% of Total Assets;

     (5) Indebtedness incurred by the Issuer or any Restricted Subsidiary constituting
reimbursement obligations with respect to letters of credit issued in the ordinary course of
business, including without limitation letters of credit in respect of workers’ compensation
claims, health, disability or other employee benefits or property, casualty or liability
insurance or self-insurance or other Indebtedness with respect to reimbursement-type
obligations regarding workers’ compensation claims;

     (6) customary indemnification, adjustment of purchase price or similar obligations, in
each case, incurred in connection with the acquisition or disposition of any assets of
Issuer or any Restricted Subsidiary (other than guarantees of Indebtedness incurred by any
Person acquiring all or any portion of such assets for the purpose of financing such
acquisition) and earnout provisions or contingent payments in respect of purchase price or
adjustment of purchase price or similar obligations in acquisition agreements;

     (7) Indebtedness of the Issuer owed to and held by any Restricted Subsidiary or
Indebtedness of a Restricted Subsidiary owed to and held by the Issuer or any Restricted
Subsidiary; provided, however, that (A) any subsequent issuance or transfer of any Capital
Stock or any other event that results in any such Restricted Subsidiary ceasing to be a
Restricted Subsidiary or any subsequent transfer of any such Indebtedness (except to the
Issuer or a Restricted Subsidiary) shall be deemed, in each case, to constitute the
incurrence of such Indebtedness by the issuer thereof and (B) if the Issuer or any Guarantor
is the obligor on such Indebtedness owing to a Restricted Subsidiary that is not a
Guarantor, such Indebtedness is expressly subordinated to the prior payment in full in cash
of all obligations of the Issuer with respect to the Notes or of such Guarantor with respect
to its Guarantee;

     (8) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or a
Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital
Stock or any other event which results in any such Restricted Subsidiary ceasing to be a
Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock
(except to the Issuer or a Restricted Subsidiary) shall be deemed in each case to be an
issuance of such shares of Preferred Stock;

     (9) Hedging Obligations of the Issuer or any Restricted Subsidiary (excluding Hedging
Obligations entered into for speculative purposes) for the purpose of limiting (A) interest
rate risk with respect to any Indebtedness that is permitted by the terms of the Indenture
to be outstanding or (B) exchange rate risk with respect to any currency exchange or (C)
commodity risk;

     (10) obligations in respect of performance, bid, appeal and surety bonds and
performance and completion guarantees provided by the Issuer or any Restricted Subsidiary or
obligations in respect of letters of credit related thereto, in each case

41

 

provided in the ordinary course of business, including those incurred to secure health,
safety and environmental obligations in the ordinary course of business;

     (11) Indebtedness of the Issuer or any Restricted Subsidiary or Preferred Stock of any
Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or
liquidation preference which, when aggregated with the principal amount and liquidation
preference of all other Indebtedness and Preferred Stock then outstanding and incurred
pursuant to this clause (11), does not at any one time outstanding exceed the greater of (x)
$500.0 million and (y) 5.0% of Total Assets;

     (12) any guarantee by the Issuer or a Restricted Subsidiary of Indebtedness or other
obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness or
obligations incurred by such Restricted Subsidiary is permitted under the terms of the
Indenture;

     (13) the incurrence by the Issuer or any Restricted Subsidiary of Indebtedness or
Preferred Stock that serves to refund or refinance any Indebtedness incurred as permitted
under Section 4.2(a) and clause (2), (3) or (4) above, this clause (13) or clause (14) below
or any Indebtedness issued to so refund or refinance such Indebtedness including additional
Indebtedness incurred to pay premiums and fees in connection therewith (the “Refinancing
Indebtedness”) prior to its respective maturity; provided, however, that such
Refinancing Indebtedness (A) has a Weighted Average Life to Maturity at the time such
Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average
Life to Maturity of the Indebtedness being refunded or refinanced, (B) to the extent such
Refinancing Indebtedness refinances Indebtedness subordinated to the Notes, such Refinancing
Indebtedness is subordinated to the Notes at least to the same extent as the Indebtedness
being refinanced or refunded, (C) shall not include (x) Indebtedness or Preferred Stock of a
Subsidiary that is not a Guarantor that refinances Indebtedness or Preferred Stock of the
Issuer or a Guarantor or (y) Indebtedness or Preferred Stock of the Issuer or a Restricted
Subsidiary that refinances Indebtedness or Preferred Stock of an Unrestricted Subsidiary,
(D) shall not be in a principal amount in excess of the principal amount of, premium, if
any, accrued interest on, and related fees and expenses of, the Indebtedness being refunded
or refinanced and fees and expenses incurred in connection with such Refinancing
Indebtedness and (E) shall not have a stated maturity date prior to the Stated Maturity of
the Indebtedness being refunded or refinanced;

     (14) Indebtedness or Preferred Stock of Persons that are acquired by the Issuer or any
Restricted Subsidiary or merged into the Issuer or a Restricted Subsidiary in accordance
with the terms of the Indenture; provided that such Indebtedness or Preferred Stock is not
incurred in connection with or in contemplation of such acquisition or merger; and provided,
further, that after giving effect to such acquisition or merger, either (A) the Issuer or
such Restricted Subsidiary would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.2(a) or
(B) the Fixed Charge Coverage Ratio would be greater than immediately prior to such
acquisition;

42

 

     (15) Indebtedness arising from the honoring by a bank or financial institution of a
check, draft or similar instrument drawn against insufficient funds in the ordinary course
of business, provided that such Indebtedness, other than credit or purchase cards, is
extinguished within five Business Days of its incurrence;

     (16) Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer supported by
a letter of credit issued pursuant to the Credit Agreement in a principal amount not in
excess of the stated amount of such letter of credit;

     (17) Indebtedness consisting of (x) the financing of insurance premiums or (y)
take-or-pay obligations contained in supply arrangements, in each case, in the ordinary
course of business;

     (18) Indebtedness of Foreign Subsidiaries of the Issuer incurred for working capital
purposes; provided, however, that the aggregate principal amount of Indebtedness Incurred
under this clause (18) does not exceed the greater of (x) $500.0 million and (y) 5.0% of the
consolidated assets of the Foreign Subsidiaries;

     (19) Indebtedness incurred on behalf of or representing Guarantees of Indebtedness of
joint ventures not in excess of the greater of (x) $150.0 million and (y) 2.0% of Total
Assets at any time outstanding;

     (20) Indebtedness incurred by a Securitization Subsidiary in a Qualified Securitization
Financing that is not recourse to the Issuer or any Restricted Subsidiary of the Issuer
other than a Securitization Subsidiary (except for Standard Securitization Undertakings);

     (21) letters of credit issued for the account of a Restricted Subsidiary that is not a
Guarantor (and the reimbursement obligations in respect of which are not guaranteed by a
Guarantor) in support of a Captive Insurance Subsidiary’s reinsurance of insurance policies
issued for the benefit of Restricted Subsidiaries and other letters of credit or bank
guarantees having an aggregate face amount not in excess of the greater of (x) $200.0
million and (y) 3.0% of Total Assets;

     (22) Indebtedness of one or more Restricted Subsidiaries organized under the laws of
the People’s Republic of China for their own general corporate purposes in an aggregate
principal amount not to exceed $400.0 million at any time outstanding; and

     (23) all premium (if any), interest (including post-petition interest), fees, expenses,
charges and additional or contingent interest on obligations described in clauses (1)
through (22) above.

          (c) For purposes of determining compliance with this Section 4.2,

     (1) in the event that an item of proposed Indebtedness meets the criteria of more than
one of the categories of Permitted Debt described in clauses (1) through (23) above, or is
entitled to be incurred pursuant to Section 4.2(a), the Issuer will be permitted
to classify and later from time to time reclassify such item of Indebtedness in

43

 

any manner that complies with this Section 4.2, and such item of Indebtedness will be treated as
having been incurred pursuant to only one of such categories;

     (2) the outstanding principal amount of any particular Indebtedness shall be counted
only once such that (without limitation) any obligation arising under any guarantee, Lien,
letter of credit or similar instrument supporting such Debt shall be disregarded;

     (3) accrual of interest, the accretion of accreted value and the payment of interest in
the form of additional Indebtedness will not be deemed to be an incurrence of Indebtedness
for purposes of this Section 4.2;

     (4) Indebtedness under the Credit Agreement outstanding on the date on which Notes are
first issued and authenticated under the Indenture will be deemed to have been incurred on
such date in reliance on the exception provided by Section 4.2(b)(1);

     (5) where Debt is denominated in a currency other than U.S. Dollars, the amount of such
Debt will be the U.S. Dollar Equivalent determined on the date of such Incurrence; provided,
however, that if any such Debt that is denominated in a different currency is subject to a
currency Hedge Agreement with respect to U.S. Dollars covering principal payable on such
Indebtedness, the amount of such Indebtedness expressed in U.S. Dollars will be adjusted to
take into account the effect of such agreement; provided further, however, that if any
Indebtedness is incurred to refinance other Indebtedness denominated in a currency other
than U.S. Dollars, and such refinancing would cause the applicable U.S. dollar-denominated
restriction to be exceeded if the U.S. Dollar Equivalent is calculated at the relevant
currency exchange rate in effect on the date of such refinancing, such U.S.
dollar-denominated restriction shall be deemed not to have been exceeded so long as the
principal amount of such refinancing Indebtedness (denominated in such non-U.S. dollar
currency) does not exceed the principal amount of such Indebtedness being refinanced
(denominated in the same currency) except to the extent that such U.S. Dollar Equivalent was
determined based on a currency Hedge Agreement, in which case the principal amount of the
refinancing Indebtedness will be determined in accordance with the preceding sentence; and

     (6) the maximum amount of Indebtedness that the Issuer and its Restricted Subsidiaries
may incur pursuant to this Section 4.2 shall not be deemed to be exceeded, with respect to
any outstanding Indebtedness, solely as a result of fluctuations in the exchange rate of
currencies.

SECTION 4.3. Liens.

          The Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, create, incur, assume or suffer to exist any Lien (other than Permitted Liens) of any
nature whatsoever against any assets of the Issuer or any Restricted Subsidiary (including Capital
Stock of a Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, which
Lien secures Indebtedness or trade payables, unless contemporaneously therewith:

44

 

     (1) in the case of any Lien securing an obligation that ranks pari passu with the Notes
or a Guarantee, effective provision is made to secure the Notes or such Guarantee, as the
case may be, at least equally and ratably with or prior to such obligation with a Lien on
the same assets of the Issuer or such Restricted Subsidiary, as the case may be; and

     (2) in the case of any Lien securing Subordinated Indebtedness, effective provision is
made to secure the Notes or such Guarantee, as the case may be, with a Lien on the same
assets of the Issuer or such Restricted Subsidiary, as the case may be, that is prior to the
Lien securing such Subordinated Indebtedness.

SECTION 4.4. Dividend and Other Payment Restrictions Affecting Subsidiaries.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, create or permit to exist or become effective any consensual encumbrance or
restriction on the ability of any such Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock to the Issuer or
any of its Restricted Subsidiaries, or pay any Indebtedness owed to the Issuer or any of its
Restricted Subsidiaries;

     (2) make loans or advances to the Issuer or any of its Restricted Subsidiaries; or

     (3) sell, lease or transfer any of its properties or assets to the Issuer or any of its
Restricted Subsidiaries.

     (b) However, the preceding restrictions will not apply to encumbrances or restrictions
existing under or by reason of:

     (1) contractual encumbrances or restrictions in effect on the Issue Date, including,
without limitation, pursuant to Existing Indebtedness or the Credit Agreement and related
documentation;

     (2) the Indenture, the Notes and the Guarantees;

     (3) purchase money obligations for property acquired in the ordinary course of business
that impose restrictions of the nature discussed in Section 4.4(a)(3) on the property so
acquired;

     (4) applicable law or any applicable rule, regulation or order;

     (5) any agreement or other instrument of a Person acquired by the Issuer or any
Restricted Subsidiary in existence at the time of such acquisition (but not created in
contemplation thereof), which encumbrance or restriction is not applicable to any Person, or
the properties or assets of any Person, other than the Person, or the property or assets of
the Person, so acquired;

45

 

     (6) contracts for the sale of assets, including, without limitation, customary
restrictions with respect to a Subsidiary pursuant to an agreement that has been entered
into for the sale or disposition of all or substantially all of the Capital Stock or assets
of such Subsidiary;

     (7) Secured Debt otherwise permitted to be incurred pursuant to Section 4.2 and Section
4.3 that limits the right of the debtor to dispose of the assets securing such Indebtedness;

     (8) restrictions on cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

     (9) other Indebtedness of Restricted Subsidiaries (i) that are the Issuer or Guarantors
which Indebtedness is permitted to be incurred pursuant to an agreement entered into
subsequent to the Issue Date in accordance with Section 4.2 and (ii) that are Foreign
Subsidiaries so long as such encumbrances or restrictions apply only to such Foreign
Subsidiary or its Capital Stock or any Subsidiary of such Foreign Subsidiary;

     (10) customary provisions in joint venture agreements and other similar agreements
entered into in the ordinary course of business;

     (11) customary provisions contained in leases or licenses of intellectual property and
other similar agreements entered into in the ordinary course of business;

     (12) customary provisions restricting subletting or assignment of any lease governing a
leasehold interest;

     (13) customary provisions restricting assignment of any agreement entered into in the
ordinary course of business;

     (14) any encumbrances or restrictions of the type referred to in clauses (1), (2) and
(3) of Section 4.4(a) imposed by any amendments, modifications, restatements, renewals,
increases, supplements, refundings, replacements or refinancings of the contracts,
instruments or obligations referred to in clauses (1), (2) and (5) above, provided that such
amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings are, in the good faith judgment of the Board of Directors, no
more restrictive with respect to such dividend and other payment restrictions than those
contained in the dividend or other payment restrictions prior to such amendment,
modification, restatement, renewal, increase, supplement, refunding, replacement or
refinancing; or

     (15) any encumbrance or restriction of a Securitization Subsidiary effected in
connection with a Qualified Securitization Financing; provided, however, that such
restrictions apply only to such Securitization Subsidiary.

46

 

SECTION 4.5. Transactions with Affiliates.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or
purchase any property or assets from, or enter into or make or amend any transaction, contract,
agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate
(each, an “Affiliate Transaction”) involving aggregate consideration in excess of $10.0 million,
unless:

     (1) the Affiliate Transaction is on terms that are not materially less favorable, taken
as a whole, to the Issuer or the relevant Restricted Subsidiary than those that would have
been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with
an unrelated Person on an arms-length basis; and

     (2) the Issuer delivers to the Trustee, with respect to any Affiliate Transaction or
series of related Affiliate Transactions involving aggregate consideration in excess of
$40.0 million, a resolution of the Board of Directors set forth in an Officer’s Certificate
certifying that such Affiliate Transaction complies with this Section 4.5 and that such
Affiliate Transaction has been approved by a majority of the disinterested members, if any,
of the Board of Directors.

          (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will
not be subject to the provisions of Section 4.5(a):

     (1) transactions between or among the Issuer and/or any Restricted Subsidiary or any
entity that becomes a Restricted Subsidiary as a result of such transaction or any entity
that is an Affiliate solely as a result of the Issuer or any Restricted Subsidiary owning
Capital Stock thereof;

     (2) Restricted Payments and Permitted Investments (other than pursuant to clause (12)
of the definition thereof) permitted by the Indenture;

     (3) the payment of reasonable and customary fees paid to, and indemnities provided on
behalf of, officers, directors, employees or consultants of the Issuer, any Restricted
Subsidiary or (to the extent such person renders services to the businesses of the Issuer
and its Subsidiaries) any of the Issuer’s direct or indirect parent entities;

     (4) transactions in which the Issuer or any Restricted Subsidiary delivers to the
Trustee a letter from an Independent Financial Advisor stating that such transaction is fair
to the Issuer or such Restricted Subsidiary from a financial point of view;

     (5) payments or loans (or cancellations of loans) to employees or consultants of the
Issuer, any Restricted Subsidiary or (to the extent such person renders services to the
businesses of the Issuer and its Subsidiaries) any of the Issuer’s direct or indirect parent
entities, which are approved by a majority of the Board of Directors in good faith and which
are otherwise permitted under the Indenture;

47

 

     (6) payments made or performance under any agreement as in effect on the Issue Date or
any amendment thereto (so long as any such amendment is not less advantageous to the holders
of the Notes in any material respect than the original agreement as in effect on the Issue
Date);

     (7) transactions with customers, clients, suppliers, or purchasers or sellers of goods
or services, in each case in the ordinary course of business and otherwise in compliance
with the terms of the Indenture that are fair to the Issuer or the Restricted Subsidiaries,
in the reasonable determination of the members of the Board of Directors or the senior
management of the Issuer, or are on terms at least as favorable as might reasonably have
been obtained at such time from an unaffiliated party;

     (8) if otherwise permitted hereunder, the issuance of Equity Interests (other than
Disqualified Stock);

     (9) any transaction effected as part of a Qualified Securitization Financing;

     (10) any employment agreements entered into by the Issuer or any of the Restricted
Subsidiaries in the ordinary course of business;

     (11) transactions with joint ventures for the purchase or sale of chemicals, equipment
and services entered into in the ordinary course of business; and

     (12) any issuance of securities, or other payments, awards or grants in cash,
securities or otherwise pursuant to, or the funding of, employment arrangements, pension
plans, stock options and stock ownership plans approved by the Board of Directors.

SECTION 4.6. Business Activities.

          The Issuer shall not, and shall not permit any Restricted Subsidiary (other than a
Securitization Subsidiary) to, engage in any business other than Permitted Businesses, except to
such extent as would not be material to the Issuer and its Subsidiaries taken as a whole.

SECTION 4.7. Additional Guarantees.

          After the Issue Date, the Issuer shall cause each Restricted Subsidiary that guarantees any
Indebtedness of the Issuer or any of the Guarantors under the Credit Agreement, in each case,
substantially at the same time, to execute and deliver to the Trustee a Guarantee pursuant to which
such Restricted Subsidiary will unconditionally Guarantee, on a joint and several basis, the full
and prompt payment of the principal of, premium, if any and interest on the Notes and all other
obligations under the Indenture on the same terms and conditions as those set forth in the
Indenture.

SECTION 4.8. Reports.

          Whether or not required by the Commission, so long as any Notes are outstanding, the Issuer
shall electronically file with the Commission by the respective dates

48

 

specified in the Commission’s rules and regulations (the “Required Filing Date”),
unless, in any such case, such filings are not then permitted by the Commission:

     (1) all quarterly and annual financial information that would be required to be
contained in a filing with the Commission on Forms 10-Q and 10-K if the Issuer were required
to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and, with respect to the annual information only, a report on the
annual financial statements by the Issuer’s certified independent accountants; and

     (2) all current reports that would be required to be filed with the Commission on Form
8-K if the Issuer were required to file such reports;

          If such filings with the Commission are not then permitted by the Commission, or such filings
are not generally available on the Internet free of charge, the Issuer shall, within 15 days of
each Required Filing Date, transmit by mail to holders of the Notes, as their names and addresses
appear in the Note register, without cost to such holders of the Notes, and file with the Trustee
copies of the information or reports that the Issuer would be required to file with the Commission
pursuant to the first paragraph of this Section 4.8 if such filing were then permitted.

          So long as the Parent Guarantor is a Guarantor (there being no obligation of the Parent
Guarantor to do so), holds no material assets other than cash, Cash Equivalents and the Capital
Stock of the Issuer (and performs the related incidental activities associated with such ownership)
and complies with the requirements of Rule 3-10 of Regulation S-X promulgated by the Commission (or
any successor provision), the reports, information and other documents required to be filed and
furnished to holders of the Notes pursuant to this Section 4.8 may, at the option of the Issuer, be
filed by and be those of the Parent Guarantor rather than the Issuer.

          The availability of the foregoing reports on the Commission’s EDGAR service (or successor
thereto) shall be deemed to satisfy the Issuer’s delivery obligations to the Trustee and holders.

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

SECTION 4.9. Change of Control Event.

          (a) If a Change of Control Event occurs, each Holder will have the right to require the Issuer
to repurchase all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof)
of that Holder’s Notes pursuant to a Change of Control Offer on the terms set forth in the
Indenture. In the Change of Control Offer, the Issuer shall offer to purchase such Notes at a
purchase price in cash (the “Change of Control Payment”) equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest on the Notes repurchased,
to the date of purchase (subject to the right of Holders of record on the relevant record date
to receive interest due on the relevant interest payment date).

49

 

          (b) Within 30 days following any Change of Control Event, the Issuer will mail a notice to
each Holder describing the transaction or transactions that constitute the Change of Control and
offering (the “Change of Control Offer”) to repurchase Notes on the date specified in the
notice (the “Change of Control Payment Date”), which date will be no earlier than 30 days
and no later than 60 days from the date such notice is mailed, pursuant to the procedures required
by the Indenture and described in such notice. Such notice shall state:

     (1) that a Change of Control Event has occurred and that such Holder has the right to
require the Issuer to purchase all or a portion of such Holder’s Notes at a purchase price
in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest to
the date of purchase (subject to the right of the Holders of record on the relevant record
date to receive interest on the relevant interest payment date);

     (2) the circumstances and relevant facts and financial information regarding such
Change of Control Event;

     (3) the Change of Control Payment Date; and

     (4) the instructions determined by the Issuer, consistent with this Section, that a
Holder must follow in order to have its Notes purchased.

          (c) Holders electing to have a Note purchased shall be required to surrender the Note, with an
appropriate form duly completed, to the Issuer at the address specified in the notice at least
three Business Days prior to the Change of Control Purchase Date. The Holders shall be entitled to
withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior
to the Change of Control Purchase Date a facsimile transmission or letter setting forth the name of
the Holder, the principal amount of the Note which was delivered for purchase by the Holder and a
statement that such Holder is withdrawing his election to have such Note purchased. Holders whose
Notes are purchased only in part shall be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered.

          (d) On the Change of Control Payment Date, the Issuer will, to the extent lawful:

     (1) accept for payment all Notes or portions of Notes properly tendered pursuant to the
Change of Control Offer;

     (2) deposit with the paying agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered; and

     (3) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officer’s Certificate stating the aggregate principal amount of Notes or
portions of Notes being purchased by the Issuer.

          (e) On the Change of Control Purchase Date all Notes purchased by the Issuer under this
Section shall be delivered to the Trustee for cancellation, and the Issuer shall pay the Change of
Control Payment to the Holders entitled thereto.

50

 

          (f) The paying agent will promptly mail to each holder of Notes properly tendered the
Change of Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or
cause to be transferred by book entry) to each holder a new Note equal in principal amount to any
unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a
principal amount of $1,000 or an integral multiple of $1,000 in excess thereof.

          (g) The Issuer shall not be required to make a Change of Control Offer upon a Change of
Control Event if (1) a third party makes the Change of Control Offer in the manner, at the times
and otherwise in compliance with the requirements set forth in this Section 4.9 applicable to a
Change of Control Offer made by the Issuer and purchases all Notes properly tendered and not
withdrawn under the Change of Control Offer or (2) notice of redemption has been given pursuant to
the Indenture as described above under Section 3.1, unless and until there is a default in the
payment of the applicable redemption price. Notwithstanding anything to the contrary contained
herein, a Change of Control Offer may be made in advance of a Change of Control Event or
conditional upon the occurrence of a Change of Control Event, if a definitive agreement is in place
for the Change of Control at the time the Change of Control Offer is made and such Change of
Control Offer is otherwise made in compliance with the provisions of this Section 4.9.

          (h) The Issuer shall comply with the requirements of Section 14e-1 of the Exchange Act and any
other securities laws or regulations in connection with the repurchase of Notes pursuant to this
Section to the extent those laws and regulations are applicable in connection with the repurchase
of the Notes as a result of a Change of Control. To the extent that the provisions of any
securities laws or regulations conflict with provisions of this Section, the Issuer shall comply
with the applicable securities laws and regulations and shall not be deemed to have breached its
obligations under this Section by virtue thereof.

SECTION 4.10. Asset Sales.

          (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
consummate an Asset Sale unless:

     (1) the Issuer (or such Restricted Subsidiary, as the case may be) receives
consideration at the time of the Asset Sale at least equal to the fair market value of the
assets or Equity Interests issued or sold or otherwise disposed of; and

     (2) at least 75% of the consideration received in the Asset Sale by the Issuer or such
Restricted Subsidiary is in the form of cash or Cash Equivalents.

          For purposes of clause (2) above and for no other purpose, the amount of (i) any liabilities
(as shown on the Issuer’s or such Restricted Subsidiary’s most recent balance sheet or in the notes
thereto) of the Issuer or any Restricted Subsidiary (other than liabilities that are by their terms
subordinated to the Notes or the Guarantees) that are assumed by the transferee of any such assets,
(ii) any securities received by the Issuer or such Restricted Subsidiary from such transferee that
are converted by the Issuer or such Restricted Subsidiary into cash (to the extent of the cash
received) within 180 days following the receipt thereof, (iii) the fair market value (as

51

 

determined in good faith by the Issuer) of (A) any assets (other than securities) received by
the Issuer or any Restricted Subsidiary to be used by it in a Permitted Business, (B) Equity
Interests in a Person that is a Restricted Subsidiary or in a Person engaged in a Permitted
Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Person
by the Issuer or any Restricted Subsidiary or (C) a combination of (A) and (B), and (iv) any
Designated Non-cash Consideration received by the Issuer or any of its Restricted Subsidiaries in
such Asset Sale having an aggregate fair market value (as determined in good faith by the Issuer),
taken together with all other Designated Non-cash Consideration received pursuant to this clause
(iv) that is at that time outstanding, not to exceed 5.0% of Total Assets at the time of the
receipt of such Designated Non-cash Consideration (with the fair market value of each item of
Designated Non-cash Consideration being measured at the time received without giving effect to
subsequent changes in value) shall be deemed to be cash.

          (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Issuer may
apply those Net Proceeds at its option to:

     (1) permanently reduce Obligations under Secured Debt of the Issuer or a Guarantor (and
to correspondingly reduce commitments with respect thereto) or Indebtedness of a Restricted
Subsidiary that is not a Guarantor, in each case other than Indebtedness owed to the Issuer
or a Subsidiary of the Issuer;

     (2) make an investment in (A) any one or more businesses; provided that such investment
in any business is in the form of the acquisition of Capital Stock and results in the Issuer
or a Restricted Subsidiary owning an amount of the Capital Stock of such business such that
it constitutes a Restricted Subsidiary, (B) capital expenditures or (C) other assets, in
each of (A), (B) and (C), used or useful in a Permitted Business; and/or

     (3) make an investment in (A) any one or more businesses; provided that such investment
in any business is in the form of the acquisition of Capital Stock and it results in the
Issuer or a Restricted Subsidiary owning an amount of the Capital Stock of such business
such that it constitutes a Restricted Subsidiary, (B) properties or (C) assets that, in each
of (A), (B) and (C), replace the businesses, properties and assets that are the subject of
such Asset Sale.

          Any Net Proceeds from an Asset Sale not applied or invested in accordance with the preceding
paragraph within 365 days from the date of the receipt of such Net Proceeds shall constitute
“Excess Proceeds,” provided that if during such 365-day period the Issuer or a Restricted
Subsidiary enters into a definitive binding agreement committing it to apply such Net Proceeds in
accordance with the requirements of clause (2) or (3) of the immediately preceding paragraph after
such 365th day, such 365-day period will be extended with respect to the amount of Net Proceeds so
committed for a period not to exceed 180 days until such Net Proceeds are required to be applied in
accordance with such agreement (or, if earlier, until termination of such agreement).

          When the aggregate amount of Excess Proceeds exceeds $40.0 million, the Issuer or the
applicable Restricted Subsidiary will make an offer (an “Asset Sale Offer”) to all holders

52

 

of Notes and, at the option of the Issuer, Indebtedness that ranks pari passu with the Notes and
contains provisions similar to those set forth in the Indenture with respect to mandatory
prepayments, redemptions or offers to purchase with the proceeds of sales of assets, to purchase,
on a pro rata basis, the maximum principal amount of Notes and such other pari passu Indebtedness
that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be
equal to 100% of principal amount plus accrued and unpaid interest to the date of purchase, and
will be payable in cash. The Issuer shall commence an Asset Sale Offer with respect to Excess
Proceeds within ten Business Days after the date that Excess Proceeds exceed $40.0 million by
mailing the notice required pursuant to the terms of Section 4.10(f), with a copy to the Trustee.

          Pending the final application of any Net Proceeds, the Issuer or such Restricted Subsidiary
may temporarily reduce revolving credit borrowings or otherwise invest the Net Proceeds in any
manner that is not prohibited by the Indenture.

          If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Issuer or the
applicable Restricted Subsidiary may use those Excess Proceeds for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount of Notes tendered into such Asset
Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes to be purchased
on a pro rata basis. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will
be reset at zero.

          (c) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with the Asset Sale
provisions of the Indenture, the Issuer shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations under the Asset Sale
provisions of this Section 4.10 by virtue of such conflict.

          (d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to
the Trustee as provided above, the Issuer shall deliver to the Trustee an Officer’s Certificate as
to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Proceeds from the Asset
Sales pursuant to which such Asset Sale Offer is being made and (iii) the compliance of such
allocation with the provisions of Section 4.10(b). On such date, the Issuer shall also irrevocably
deposit with the Trustee or with a Paying Agent (or, if the Issuer or a Subsidiary is acting as a
Paying Agent, such Paying Agent shall segregate and hold in trust) an amount equal to the Excess
Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held
for payment in accordance with the provisions of this Section 4.10. Upon the expiration of the
period for which the Asset Sale Offer remains open (the “Offer Period”), the Issuer shall
deliver to the Trustee for cancellation the Notes or portions thereof that have been properly
tendered to and are to be accepted by the Issuer. The Trustee (or a Paying Agent, if not the
Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the
amount of the purchase price. In the event that the Excess Proceeds delivered by the Issuer to the
Trustee is greater than the purchase price of the Notes tendered, the Trustee shall deliver the
excess to the Issuer immediately after the expiration of the Offer Period for application in
accordance with Section 4.10.

53

 

          (e) Holders electing to have a Note purchased shall be required to surrender the Note, with an
appropriate form duly completed, to the Issuer at the address specified in the notice at least
three Business Days prior to the purchase date. Holders shall be entitled to withdraw their
election if the Trustee or the Issuer receives not later than one Business Day prior to the
Purchase Date, a facsimile transmission or letter setting forth the name of the Holder, the
principal amount of the Note which was delivered by the Holder for purchase and a statement that
such Holder is withdrawing his election to have such Note purchased. If at the end of the Offer
Period more Notes are tendered pursuant to an Asset Sale Offer than the Issuer is required to
purchase, selection of such Notes for purchase shall be made by the Trustee in compliance with the
requirements of the principal national securities exchange, if any, on which such Notes are listed,
or if such Notes are not so listed, on a pro rata basis, by lot or by such other method as the
Trustee shall deem fair and appropriate (and in such manner as complies with applicable legal
requirements); provided that no Notes of $1,000 or less shall be purchased in part.

          (f) Notices of an Asset Sale Offer shall be mailed by first class mail, postage prepaid, at
least 30 but not more than 60 days before the purchase date to each Holder of Notes at such
Holder’s registered address. If any Note is to be purchased in part only, any notice of purchase
that relates to such Note shall state the portion of the principal amount thereof that is to be
purchased.

          (g) A new Note in principal amount equal to the unpurchased portion of any Note purchased in
part shall be issued in the name of the Holder thereof upon cancellation of the original Note. On
and after the purchase date, unless the Issuer defaults in payment of the purchase price, interest
shall cease to accrue on Notes or portions thereof purchased.

SECTION 4.11. Suspension of Covenants.

          (a) During any period of time (a “Suspension Period”) after the Issue Date that (i)
the Notes have Investment Grade Ratings from each of S&P and Moody’s (or, if either (or both) of
S&P and Moody’s have been substituted in accordance with the definition of “Rating Agencies”, by
each of the then applicable Rating Agencies) and (ii) no Default has occurred and is continuing
under the Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii)
being collectively referred to as a “Covenant Suspension Event”), the Issuer and its
Restricted Subsidiaries will not be subject to Sections 4.1, 4.2, 4.4, 4.5, 4.6, 4.10 and 5.1(a)(4)
(the “Suspended Covenants”). Additionally, upon the occurrence of a Covenant Suspension Event, the
amount of Excess Proceeds from Net Proceeds shall be reset at zero.

          (b) In the event that the Issuer and its Restricted Subsidiaries are not subject to the
Suspended Covenants for any period of time as a result of the foregoing, and on any subsequent date
(the “Reversion Date”) the condition set forth in clause (i) of Section 4.11(a) is no
longer satisfied, then the Issuer and its Restricted Subsidiaries will thereafter again be subject
to the Suspended Covenant with respect to future events. In the event of any such reinstatement,
no Default or Event of Default will be deemed to have occurred as a result of a failure to comply
with the Suspended Covenants during a Suspension Period (or on the Reversion Date or after the
Suspension Period based solely on events that occurred during the Suspension Period).

54

 

          (c) On each Reversion Date, all Indebtedness incurred during the Suspension Period prior to
such Reversion Date will be deemed to be Existing Indebtedness. For purposes of calculating the
amount available to be made as Restricted Payments under Section 4.1(a)(3), calculations under
Section 4.1 shall be made as though such covenant had been in effect during the entire period of
time after the Issue Date (including the Suspension Period). Restricted Payments made during the
Suspension Period not otherwise permitted pursuant to section 4.1(b) will reduce the amount
available to be made as Restricted Payments under Section 4.1(a)(3).

ARTICLE FIVE

MERGER, CONSOLIDATION OR SALE OF ASSETS

          With respect to the Notes, the following shall supersede the provisions of Article V of the
Base Indenture; provided that the terms of this Article Five shall not become a part of the terms
of any other series of Securities.

SECTION 5.1. Consolidation, Merger and Sale of Assets of the Issuer.

          (a) The Issuer may not, directly or indirectly: (1) consolidate or merge with or into or wind
up into another Person (whether or not the Issuer is the surviving Person); or (2) sell, assign,
transfer, convey or otherwise dispose of all or substantially all of its properties or assets, in
one or more related transactions, to another Person; unless:

     (1) either: (a) the Issuer is the surviving Person; or (b) the Person formed by or
surviving any such consolidation or merger (if other than the Issuer) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a corporation,
limited liability company or limited partnership organized or existing under the laws of the
jurisdiction of organization of the Issuer or the United States, any state of the United
States, the District of Columbia or any territory thereof (the Issuer or such Person, as the
case may be, hereinafter referred to as the “Successor Company”);

     (2) the Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under the Notes and the Indenture pursuant to agreements
reasonably satisfactory to the Trustee;

     (3) immediately after such transaction no Default or Event of Default exists;

     (4) after giving pro forma effect thereto and any related financing transactions as if
the same had occurred at the beginning of the applicable four-quarter period, either (A) the
Successor Company (if other than the Issuer), would have been permitted to incur at least
$1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth
in Section 4.2(a) determined on a pro forma basis (including pro forma application of the
net proceeds therefrom), as if such transaction had occurred at the beginning of such
four-quarter period, or (B) the Fixed Charge Coverage Ratio for the Successor Company and
its Restricted Subsidiaries would be greater than such ratio for the Issuer and its
Restricted Subsidiaries immediately prior to such transaction;

55

 

     (5) each Guarantor, unless it is the other party to the transactions described above,
in which case clause (2) shall apply, shall have confirmed in writing that its Guarantee
shall apply to such Person’s obligations under the Notes and the Indenture; and

     (6) the Issuer shall have delivered to the Trustee a certificate from a Responsible
Officer and an Opinion of Counsel, each stating that such consolidation, merger or transfer
and such amendment or supplement (if any) comply with the Indenture.

          The Successor Company shall succeed to, and be substituted for, the Issuer under the Indenture
and the Notes. Notwithstanding the foregoing clauses (3) and (4), (a) any Restricted Subsidiary
may consolidate with, merge into or transfer all or part of its properties and assets to the Issuer
or to another Restricted Subsidiary and (b) the Issuer may merge with an Affiliate incorporated
solely for the purpose of reincorporating the Issuer in a (or another) state of the United States,
so long as the amount of Indebtedness of the Issuer and its Restricted Subsidiaries is not
increased thereby.

SECTION 5.2. Consolidation, Merger and Sale of Assets by a Guarantor.

          (a) Subject to the provisions described under Section 6.4(a), no Guarantor (other than the
Parent Guarantor) shall consolidate or merge with or into or wind up into (whether or not such
Guarantor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose
of all or substantially all of its properties or assets in one or more related transactions to, any
Person, unless:

     (1) such Guarantor is the surviving Person or the Person formed by or surviving any
such consolidation or merger (if other than such Guarantor) or to which such sale,
assignment, transfer, lease, conveyance or other disposition will have been made is a
corporation, limited liability company or limited partnership organized or existing under
the laws of the United States, any state thereof, the District of Columbia or any territory
thereof (such Guarantor or such Person, as the case may be, being herein called the
“Successor Guarantor”);

     (2) the Successor Guarantor (if other than such Guarantor) expressly assumes all the
obligations of such Guarantor under the Indenture pursuant to supplemental indentures or
other documents or instruments in form reasonably satisfactory to the Trustee;

     (3) immediately after such transaction no Default or Event of Default exists; and

     (4) the Issuer shall have delivered to the Trustee a certificate from a Responsible
Officer and an Opinion of Counsel, each stating that such consolidation, merger or transfer
and such amendment or supplement (if any) comply with the Indenture.

56

 

          The Successor Guarantor will succeed to, and be substituted for, such Guarantor under the
Indenture. Notwithstanding the foregoing, (1) a Guarantor may merge with an Affiliate incorporated
solely for the purpose of reincorporating such Guarantor in another state of the United States, the
District of Columbia or any territory thereof, so long as the amount of Indebtedness of the
Guarantor is not increased thereby, (2) any Guarantor may merge into or transfer all or part of its
properties and assets to the Issuer or another Guarantor and (3) a transfer of assets or Capital
Stock of any Guarantor shall be permitted (including all or substantially all the assets of any
Guarantor), provided such transfer complies with section 4.10. Notwithstanding anything to the
contrary herein, except as expressly permitted under the Indenture no Guarantor shall be permitted
to consolidate with, merge into or transfer all or part of its properties and assets to the Parent
Guarantor.

ARTICLE SIX

GUARANTEE OF NOTES

SECTION 6.1. Guarantee.

          Subject to the provisions of this Article Six, each Guarantor, by execution of this First
Supplemental Indenture, jointly and severally, unconditionally guarantees to each Holder (i) the
due and punctual payment of the principal of, premium, if any, and interest on each Note, when and
as the same shall become due and payable, whether at maturity, by acceleration or otherwise, the
due and punctual payment of interest on the overdue principal of, premium, if any, and, to the
extent permitted by law, interest on the Notes, to the extent lawful, and the due and punctual
payment of all other Obligations and due and punctual performance of all obligations of the Issuer
to the Holders or the Trustee all in accordance with the terms of such Note and the Indenture, and
(ii) in the case of any extension of time of payment or renewal of any Notes or any of such other
Obligations, that the same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, at stated maturity, by acceleration or otherwise. Each
Guarantor, by execution of this First Supplemental Indenture, agrees that its obligations hereunder
shall be absolute and unconditional, irrespective of, and shall be unaffected by, any invalidity,
irregularity or unenforceability of any such Note or the Indenture, any failure to enforce the
provisions of any such Note or the Indenture, any waiver, modification or indulgence granted to the
Issuer with respect thereto by the Holder of such Note, or any other circumstances which may
otherwise constitute a legal or equitable discharge of a surety or such Guarantor.

          Each Guarantor hereby waives diligence, presentment, demand for 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 or notice with respect to any such Note or the Indebtedness
evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be
discharged as to any such Note except by payment in full of the principal thereof and interest
thereon. Each Guarantor hereby agrees that, as between such Guarantor, on the one hand, and the
Holders and the Trustee, on the other hand, (i) subject to this Article Six, the maturity of the
Obligations guaranteed hereby may be accelerated as provided in Article Seven for the purposes of
this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the Obligations guaranteed hereby, and (ii) in the event

57

 

of any declaration of acceleration of such Obligations as provided in Article Seven, such
Obligations (whether or not due and payable) shall forthwith become due and payable by each
Guarantor for the purpose of this Guarantee.

SECTION 6.2. Execution and Delivery of Notation of Guarantee.

          To further evidence the Guarantee set forth in Section 6.1, each Guarantor hereby agrees that
a notation of such Guarantee, substantially in the form included in Exhibit II hereto,
shall be endorsed on each Note authenticated and delivered by the Trustee and such Guarantee shall
be executed by either manual or facsimile signature of an Officer or an Officer of a general
partner, as the case may be, of each Guarantor. The validity and enforceability of any Guarantee
shall not be affected by the fact that it is not affixed to any particular Note.

          Each Guarantor hereby agrees that its Guarantee set forth in Section 6.1 shall remain in full
force and effect notwithstanding any failure to endorse on each Note a notation of such Guarantee.

          If an Officer of a Guarantor whose signature is on the Indenture or a Guarantee no longer
holds that office at the time the Trustee authenticates the Note on which such Guarantee is
endorsed or at any time thereafter, such Guarantor’s Guarantee of such Note shall be valid
nevertheless.

          The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of any Guarantee set forth in the Indenture on behalf of each Guarantor.

SECTION 6.3. Limitation of Guarantee.

          Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent
transfer or conveyance for purposes of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act,
the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
any Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors
hereby irrevocably agree that the obligations of each Guarantor are limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and
after giving effect to any collections from or payments made by or on behalf of any other Guarantor
in respect of the obligations of such other Guarantor under its Guarantee or pursuant to its
contribution obligations under the Indenture, result in the obligations of such Guarantor under its
Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state
law. Each Guarantor that makes a payment or distribution under a Guarantee shall be entitled to a
contribution from each other Guarantor in a pro rata amount based on the assets of each Guarantor.

SECTION 6.4. Release of Guarantor.

          (a) A Guarantor shall be automatically and unconditionally released from all of its
obligations under its Guarantee if:

58

 

     (1) (A) all of its assets or Capital Stock is sold or transferred, in each case in a
transaction in compliance with Section 4.10,

     (B) the Guarantor merges with or into, or consolidates with or amalgamates
with, or transfers all or substantially all of its assets to, another Person in
compliance with Article Five,

     (C) such Guarantor is designated an Unrestricted Subsidiary in accordance with
the terms of the Indenture,

     (D) in connection with any (direct or indirect) sale of Capital Stock or other
transaction that results in the Subsidiary Guarantor ceasing to be a Subsidiary of
the Issuer, if the sale or other transaction complies with the provisions of Section
4.10, or

     (E) upon legal defeasance of the notes or satisfaction and discharge of the
Indenture as provided under Article VIII of the Base Indenture;

     (2) such Guarantor has delivered to the Trustee a certificate of a Responsible Officer
and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to such transaction have been complied with; and

     (3) such Guarantor is released from its guarantee of the Credit Agreement.

          (b) The Guarantee of the Parent Guarantor may be released at any time upon the option of the
Issuer and the Parent Guarantor.

          (c) The Trustee shall execute any documents reasonably requested by the Issuer or a Guarantor
in order to evidence the release of such Guarantor from its obligations under its Guarantee
endorsed on the Notes and under this Article Six.

SECTION 6.5. Waiver of Subrogation.

          Each Guarantor hereby irrevocably waives any claim or other rights which it may now or
hereafter acquire against the Issuer that arise from the existence, payment, performance or
enforcement of such Guarantor’s obligations under its Guarantee and the Indenture, including,
without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any
right to participate in any claim or remedy of any Holder of Notes against the Issuer, whether or
not such claim, remedy or right arises in equity, or under contract, statute or common law,
including, without limitation, the right to take or receive from the Issuer, directly or
indirectly, in cash or other property or by set-off or in any other manner, payment or security on
account of such claim or other rights. If any amount shall be paid to any Guarantor in violation
of the preceding sentence and the Notes shall not have been paid in full, such amount shall have
been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the
benefit of, the Holders, and shall forthwith be paid to the Trustee for the benefit of such Holders
to be credited and applied upon the Notes, whether matured or unmatured, in accordance with the
terms of the Indenture. Each Guarantor acknowledges that it will receive direct and indirect

59

 

benefits from the financing arrangements contemplated by the Indenture and that the waiver set
forth in this Section 6.5 is knowingly made in contemplation of such benefits.

ARTICLE SEVEN

EVENTS OF DEFAULT

SECTION 7.1. Events of Default.

          (a) With respect to the Notes, Section 6.1 of the Base Indenture shall be replaced in its
entirety with the following, which shall be deemed to be provisions of the Base Indenture with
respect to the Notes; provided that the terms of this Article Seven shall not become a part of the
terms of any other series of Securities:

          Section 6.1 Events of Default. An “Event of Default” occurs if:

     (a) the Issuer defaults in payment when due and payable, upon redemption, acceleration
or otherwise, of principal of, or premium, if any, on the Notes;

     (b) the Issuer defaults in the payment when due of interest on or with respect to the
Notes and such default continues for a period of 30 days;

     (c) the Issuer defaults in the performance of, or breaches any covenant, warranty or
other agreement contained in the Indenture (other than a default in the performance or
breach of a covenant, warranty or agreement which is specifically dealt with in clauses (a)
or (b) above) and such default or breach continues for a period of 60 days after the notice
specified below;

     (d) a default under any mortgage, indenture or instrument under which there is issued
or by which there is secured or evidenced any Indebtedness for money borrowed by the Issuer
or any Restricted Subsidiary (other than Indebtedness under a Qualified Securitization
Financing) or the payment of which is guaranteed by the Issuer or any Restricted Subsidiary
(other than Indebtedness under a Qualified Securitization Financing) (other than
Indebtedness owed to the Issuer or a Restricted Subsidiary), whether such Indebtedness or
guarantee now exists or is created after the Issue Date, if (A) such default either (1)
results from the failure to pay any such Indebtedness at its stated final maturity (after
giving effect to any applicable grace periods) or (2) relates to an obligation other than
the obligation to pay principal of any such Indebtedness at its stated final maturity and
results in the holder or holders of such Indebtedness causing such Indebtedness to become
due prior to its stated maturity and (B) the principal amount of such Indebtedness, together
with the principal amount of any other such Indebtedness in default for failure to pay
principal at stated final maturity (after giving effect to any applicable grace periods), or
the maturity of which has been so accelerated, aggregate $100.0 million or more at any one
time outstanding;

     (e) the Issuer or any Significant Subsidiary fails to pay final judgments (other than
any judgments covered by insurance policies issued by reputable and creditworthy insurance
companies) aggregating in excess of $100.0 million, which final judgments

60

 

remain unpaid, undischarged and unstayed for a period of more than 60 days after such
judgment becomes final, and an enforcement proceeding has been commenced by any creditor
upon such judgment or decree which is not promptly stayed; or

     (f) the Issuer or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law:

     (i) commences a voluntary case;

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

     (iii) consents to the appointment of a Custodian of it or for any substantial
part of its property; or

     (iv) makes a general assignment for the benefit of its creditors or takes any
comparable action under any foreign laws relating to insolvency;

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

     (i) is for relief against the Issuer or any Significant Subsidiary in an
involuntary case;

     (ii) appoints a Custodian of the Issuer or any Significant Subsidiary or for
any substantial part of its property;

     (iii) orders the winding up or liquidation of the Issuer or any Significant
Subsidiary; or

     (iv) or any similar relief is granted under any foreign laws and the order or
decree remains unstayed and in effect for 60 days; or

     (h) any Guarantee of a Significant Subsidiary fails to be in full force and effect
(except as contemplated by the terms thereof) or any Guarantor (other than the Parent
Guarantor) denies or disaffirms its obligations under its Guarantee and such Default
continues for 10 days.

     The foregoing shall constitute Events of Default whatever the reason for any such Event
of Default and whether it is voluntary or involuntary or is 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.

     The term “Bankruptcy Law” means Title 11, United States Code, or any similar
Federal, state or, so long as the Issuer is domiciled in Luxembourg, Luxembourg law, in each
case for the relief of debtors. The term “Custodian” means any receiver, trustee,
assignee, liquidator, custodian or similar official under any Bankruptcy Law.

61

 

          (b) With respect to the Notes, Section 6.2 of the Base Indenture shall be amended such that
all references to “Section 6.1(d) or (e)” are references to “Section 6.1(f) or (g)”, which
references shall be deemed to be provisions of the Base Indenture with respect to the Notes;
provided that the terms of this Article Seven shall not become a part of the terms of any other
series of Securities:

          (c) In the event of any Event of Default specified in Section 6.1(d), such Event of Default
and all consequences thereof (excluding, however, any resulting payment default) shall be annulled,
waived and rescinded, automatically and without any action by the Trustee or the Holders of the
Notes, if within 20 days after such Event of Default arose the Issuer delivers an Officers’
Certificate to the Trustee stating that (x) the Indebtedness or guarantee that is the basis for
such Event of Default has been discharged or (y) the holders thereof have rescinded or waived the
acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z) the
default that is the basis for such Event of Default has been cured, it being understood that in no
event shall an acceleration of the principal amount of the Notes pursuant to Section 6.2 of the
Base Indenture be annulled, waived or rescinded upon the happening of any such events.

ARTICLE
EIGHT

SATISFACTION AND DISCHARGE

          With respect to the Notes, Article VIII of the Base Indenture shall be superseded in its
entirety by the following language with respect to, and solely for the benefit of the Holders of
the Notes; provided that this Article Eight shall not become part of the terms of any other series
of Securities:

SECTION 8.1. Discharge of Liability on Notes.

          The Indenture shall be discharged and shall cease to be of further effect (except as to
surviving rights of registration of transfer or exchange of Notes, as expressly provided for in the
Indenture) as to all outstanding Notes:

          (a) when either:

     (1) all the Notes theretofore authenticated and delivered (other than Notes
which have been replaced pursuant to Section 2.8 of the Base Indenture or paid and
Notes for whose payment money has theretofore been deposited in trust or segregated
and held in trust by the Issuer and thereafter repaid to the Issuer or discharged
from such trust) have been delivered to the Trustee for cancellation; or

     (2) all of the Notes (A) have become due and payable, (B) will become due and
payable at their stated maturity within one year or (C) if redeemable at the option
of the Issuer, are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in
the name, and at the expense, of the Issuer, and the Issuer has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely
for the benefit of the holders, cash in U.S. dollars, non-callable Government
Securities, or a combination of cash in U.S. dollars and non-

62

 

callable Government Securities in amounts as will be sufficient without
consideration of any reinvestment of interest, to pay and discharge the entire
Indebtedness on the Notes not delivered to the Trustee for cancellation for
principal, premium, if any, and accrued interest to the date of maturity or
redemption;

     (b) the Issuer and/or the Guarantors has paid or caused to be paid all sums payable by
them under the Indenture;

     (c) the Issuer has delivered irrevocable instructions to the Trustee to apply the
deposited money toward the payment of the Notes at maturity or the redemption date, as the
case may be; and

     (d) the Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel stating that all conditions precedent under the Indenture relating to the
satisfaction and discharge of the Indenture have been complied with.

SECTION 8.2. Defeasance.

          (a) The Issuer may, at its option and at any time, elect to have all of its obligations
discharged with respect to the outstanding Notes issued under the Indenture (“Legal
Defeasance”) except for:

     (1) the rights of holders of outstanding Notes issued thereunder to receive payments in
respect of the principal of, or interest or premium, if any, on such Notes when such
payments are due from the trust referred to below;

     (2) the Issuer’s obligations with respect to the Notes issued thereunder concerning
issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes
and the maintenance of an office or agency for payment and money for security payments held
in trust;

     (3) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s
obligations in connection therewith; and

     (4) this Section 8.2(a).

          (b) The Issuer may, at its option and at any time, elect to have its obligations released with
respect to Sections 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 4.7, 4.8, 4.9, 4.10 and 4.11 of this First
Supplemental Indenture and the operation of Article Five and Sections 6.1(c), 6.1(d), 6.1(e),
6.1(f) (with respect to Significant Subsidiaries of the Issuer only), 6.1(g) (with respect to
Significant Subsidiaries of the Issuer only) and 6.01(h) (“Covenant Defeasance”) and
thereafter any omission to comply with those covenants will not constitute a Default or Event of
Default with respect to the Notes. The Issuer may exercise its Legal Defeasance option
notwithstanding its prior exercise of its Covenant Defeasance option.

          If the Issuer exercises its Legal Defeasance option, payment of the Notes so defeased may not
be accelerated because of an Event of Default. If the Issuer exercises its

63

 

Covenant Defeasance option, payment of the Notes so defeased may not be accelerated because of
an Event of Default specified in Sections 6.1(c), 6.1(d), 6.1(e), 6.1(f) (with respect to
Significant Subsidiaries of the Issuer only), 6.1(g) (with respect to Significant Subsidiaries of
the Issuer only) and 6.1(h) or because of the failure of the Issuer to comply with Section 5.1.

          Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the
Trustee shall acknowledge in writing the discharge of those obligations that the Issuer terminates.

          (c) Notwithstanding clauses (a) and (b) above, the Issuer’s obligations in Sections 2.4, 2.5,
2.6, 2.7, 2.8, 2.9, 7.6 and 7.7 of the Base Indenture and in this Article shall survive until the
Notes have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.6, 8.6 and 8.7 of
this First Supplemental Indenture shall survive such satisfaction and discharge.

SECTION 8.3. Conditions to Defeasance.

          (a) The Issuer may exercise its Legal Defeasance option or its Covenant Defeasance option only
if:

     (1) the Issuer has irrevocably deposited with the Trustee, in trust, for the benefit of
the holders of the Notes issued thereunder, cash in U.S. dollars, non-callable Government
Securities, or a combination of cash in U.S. dollars and non-callable Government Securities
in amounts as will be sufficient, in the opinion of a nationally recognized firm of
independent public accountants, to pay the principal of, or interest and premium, if any, on
the outstanding Notes issued thereunder on the stated maturity or on the applicable
redemption date, as the case may be, and the Issuer must specify whether the Notes are being
defeased to maturity or to a particular redemption date;

     (2) in the case of Legal Defeasance, the Issuer has delivered to the Trustee an Opinion
of Counsel reasonably acceptable to the Trustee confirming that (a) the Issuer has received
from, or there has been published by, the Internal Revenue Service a ruling or (b) since the
Issue Date, there has been a change in the applicable federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel will confirm that, the holders
of the respective outstanding Notes will not recognize income, gain or loss for federal
income tax purposes as a result of such Legal 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 Legal Defeasance had not occurred;

     (3) in the case of Covenant Defeasance, the Issuer has delivered to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that the holders of the
respective outstanding Notes 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;

     (4) no Default or Event of Default has occurred and is continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to
be applied to such deposit and the granting of Liens in connection therewith);

64

 

     (5) such Legal Defeasance or Covenant Defeasance will not result in a breach or
violation of, or constitute a default under any material agreement or instrument (other than
the Indenture) to which the Issuer or any of its Restricted Subsidiaries is a party or by
which the Issuer or any of its Restricted Subsidiaries is bound;

     (6) the Issuer must deliver to the Trustee an Officer’s Certificate stating that the
deposit was not made by the Issuer with the intent of preferring the holders of Notes over
the other creditors of the Issuer with the intent of defeating, hindering, delaying or
defrauding creditors of the Issuer or others; and

     (7) the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance as contemplated by this Article Eight have been complied with.

          (b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee
for the redemption of such Notes at a future date in accordance with Article III.

SECTION 8.4. Application of Trust Money.

          The Trustee shall hold in trust money or Government Securities (including proceeds thereof)
deposited with it pursuant to this Article. It shall apply the deposited money and the money from
Government Securities through each Paying Agent and in accordance with the Indenture to the payment
of principal of and interest on the Notes so discharged or defeased.

SECTION 8.5. Repayment to Issuer.

          Each of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon request
any money or Government Securities held by it as provided in this Article which, in the written
opinion of nationally recognized firm of independent public accountants delivered to the Trustee
(which delivery shall only be required if Government Securities have been so deposited), are in
excess of the amount thereof which would then be required to be deposited to effect an equivalent
discharge or defeasance in accordance with this Article.

          Subject to any applicable abandoned property law, the Trustee and each Paying Agent shall pay
to the Issuer upon written request any money held by them for the payment of principal or interest
that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to
the Issuer for payment as general creditors, and the Trustee and each Paying Agent shall have no
further liability with respect to such monies.

SECTION 8.6. Indemnity for Government Securities.

          The Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against deposited Government Securities or the principal and interest
received on such Government Securities.

SECTION 8.7. Reinstatement.

65

 

          If the Trustee or any Paying Agent is unable to apply any money or Government Securities in
accordance with this Article by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Issuer’s obligations under the Indenture and the Notes so discharged or
defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article
until such time as the Trustee or any Paying Agent is permitted to apply all such money or
Government Securities in accordance with this Article; provided, however, that, if the Issuer has
made any payment of principal of or interest on, any such Notes because of the reinstatement of its
obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive
such payment from the money or Government Securities held by the Trustee or any Paying Agent.

ARTICLE NINE

AMENDMENTS AND WAIVERS

SECTION 9.1. Amendment, Supplement and Waiver.

          (a) With respect to the Notes, Sections 9.1, 9.2 and 9.3 of the Base Indenture shall be
replaced in their entirety with the following; provided that this Article Nine shall not become a
part of the terms of any other series of Securities:

          Section 9.1 Without Consent of the Holders.

     (a) The Issuer and the Trustee may amend or supplement the Indenture or the Notes
without notice to or consent of any Holder:

     (1) to cure any ambiguity, defect or inconsistency;

     (2) to provide for uncertificated Notes in addition to or in place of
certificated Notes;

     (3) to provide for the assumption of the Issuer’s obligations to holders of
Notes in the case of a merger or consolidation or sale of all or substantially all
of the assets of the Issuer and its Subsidiaries;

     (4) to make any change that would provide any additional rights or benefits to
the holders of Notes or that does not adversely affect the legal rights under the
Indenture of any such holder;

     (5) to comply with requirements of the Commission in order to effect or
maintain the qualification of the Indenture under the Trust Indenture Act;

     (6) to add a Guarantee of the Notes;

     (7) to release a Guarantor upon its sale or designation as an Unrestricted
Subsidiary or other permitted release from its Guarantee; provided

66

 

that such sale, designation or release is in accordance with the applicable
provisions of the Indenture; or

     (8) to conform the text of any provision of the Indenture, the Notes or
Guarantees to the extent such provision was intended to be a verbatim recitation of
a provision in the “Description of the Notes” section in the Offering Memorandum,
which intent shall be conclusively evidenced by an Officer’s Certificate to that
effect.

     After an amendment under this Section 9.1 becomes effective, the Issuer shall mail to
the Holders a notice briefly describing such amendment. The failure to give such notice to
all Holders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section 9.1.

     Section 9.2 With Consent of Holders. The Indenture or the Notes issued
thereunder may be amended or supplemented with the consent of the holders of at least a
majority in principal amount of the Notes then outstanding issued under the Indenture
(including, without limitation, consents obtained in connection with a purchase of, or
tender offer or exchange offer for, Notes), and any existing default or compliance with any
provision of the Indenture or the Notes issued thereunder may be waived with the consent of
the holders of a majority in principal amount of the then outstanding Notes issued under the
Indenture (including, without limitation, consents obtained in connection with a purchase
of, or tender offer or exchange offer for, Notes). Without the consent of each Holder of an
outstanding Note affected, an amendment or waiver may not (with respect to any Notes held by
a non-consenting member):

     (1) reduce the principal amount of Notes issued under the Indenture whose
holders must consent to an amendment, supplement or waiver;

     (2) reduce the principal of or change the fixed maturity of any Note or alter
the provisions with respect to the redemption of the Notes (other than Sections 4.9
or 4.10 of the First Supplemental Indenture);

     (3) reduce the rate of or change the time for payment of interest on any Note;

     (4) waive a Default or Event of Default in the payment of principal of, or
interest or premium, if any, on the Notes (except a rescission of acceleration of
the Notes by the holders of at least a majority in aggregate principal amount of the
Notes and a waiver of the payment default that resulted from such acceleration);

     (5) Note payable in money other than that stated in the Notes;

     (6) make any change in Article Six of the First Supplemental Indenture that
adversely affects the rights of any Holder under Article Six;

     (7) make any changes in Section 6.8 or 6.13 hereof;

67

 

     (8) waive a redemption payment with respect to any Note issued hereunder (other
than Section 4.9 and 4.10 of the First Supplemental Indenture); or

     (9) make any change in the preceding amendment and waiver provisions.

     It shall not be necessary for the consent of the Holders under this Section 9.2 to
approve the particular form of any proposed amendment, but it shall be sufficient if such
consent approves the substance thereof.

     After an amendment under this Section 9.2 becomes effective, the Issuer shall mail to
the Holders a notice briefly describing such amendment. The failure to give such notice to
all Holders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section 9.2.

     Section 9.3 Payment for Consent. The Issuer will not, and will not permit any
of its Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to
or for the benefit of any holder of Notes for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of the Indenture or the Notes unless such
consideration is offered to be paid and is paid to all holders of the Notes that consent,
waive or agree to amend in the time frame set forth in the solicitation documents relating
to such consent, waiver or agreement.

          (b) With respect to the Notes, Section 9.5 of the Base Indenture shall be amended such that
the reference to “clauses (1) through (8) of Section 9.3” is a reference to “clauses (1) through
(9) of Section 9.2”, which references shall be deemed to be provisions of the Base Indenture with
respect to the Notes; provided that the terms of this Article Nine shall not become a part of the
terms of any other series of Securities.

ARTICLE TEN

MISCELLANEOUS

SECTION 10.1. Effect of First Supplemental Indenture.

          (1) This First Supplemental Indenture is a supplemental indenture within the meaning of
Section 2.2 of the Base Indenture, and the Base Indenture shall be read together with this First
Supplemental Indenture and shall have the same effect over the Notes, in the same manner as if the
provisions of the Base Indenture and this First Supplemental Indenture were contained in the same
instrument.

          (2) In all respects, the Base Indenture is confirmed by the parties hereto as supplemented by
the terms of this First Supplemental Indenture.

68

 

SECTION 10.2. Effect of Headings.

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

SECTION 10.3. Successors and Assigns.

          All covenants and agreements in this First Supplemental Indenture by the Issuer, the
Guarantors, the Trustee and the Holders shall bind their successors and assigns, whether so
expressed or not.

SECTION 10.4. Severability Clause.

          In case any provision in this First Supplemental Indenture or in the Notes shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

SECTION 10.5. Benefits of First Supplemental Indenture.

          Nothing in this First Supplemental Indenture or in the Notes, express or implied, shall give
to any Person, other than the parties hereto, any benefit or any legal or equitable right, remedy
or claim under this First Supplemental Indenture.

SECTION 10.6. Conflict.

          In the event that there is a conflict or inconsistency between the Base Indenture and this
First Supplemental Indenture, the provisions of this First Supplemental Indenture shall control;
provided, however, if any provision hereof limits, qualifies or conflicts with another provision
herein or in the Base Indenture, in either case, which is required or deemed to be included in the
Indenture by any of the provisions of the Trust Indenture Act, such required or deemed provision
shall control.

SECTION 10.7. Governing Law.

          THIS FIRST SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK.

SECTION 10.8. Trustee.

          The Trustee shall not be responsible in any manner whatsoever for or in respect of the
validity or sufficiency of this First Supplemental Indenture or for or in respect of the recitals
contained herein, all of which are made solely by the Issuer.

SECTION 10.9. Counterparts.

69

 

          This instrument may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same instrument. The exchange of copies of this instrument and of signature pages
by facsimile or PDF transmission shall constitute effective execution and delivery of this
instrument as to the parties hereto and may be used in lieu of the original instrument for all
purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes.

[Signature page to follow]

70

 

          IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed on the date and year first written above.

	 	 	 	 	 
	 	ISSUER:

CELANESE US HOLDINGS LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 

[First Supplemental Indenture]

 

 

	 	 	 	 	 
	 	GUARANTORS:

CELANESE CORPORATION

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Stevin M. Sterin 	 
	 	 	Title:  	Senior Vice President and 
Chief Financial Officer 	 
	 
	 	CELANESE AMERICAS LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 
	 	CELANESE ACETATE LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 
	 	CELANESE CHEMICALS, INC.

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 
	 	CELANESE FIBERS OPERATIONS LLC

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Vice President 	 
	 

[First Supplemental Indenture]

 

 

	 	 	 	 	 
	 	CNA HOLDINGS LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 
	 	CELANESE INTERNATIONAL CORPORATION

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 
	 	CELTRAN, INC.

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Authorized Officer 	 
	 
	 	CNA FUNDING LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Authorized Officer 	 
	 
	 	KEP AMERICAS ENGINEERING PLASTICS, LLC

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Vice President 	 
	 
	 	TICONA FORTRON INC.

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Vice President 	 
	 

[First Supplemental Indenture]

 

 

	 	 	 	 	 
	 	TICONA POLYMERS, INC.

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Vice President 	 
	 
	 	TICONA LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Authorized Officer 	 
	 
	 	CELANESE GLOBAL RELOCATION LLC

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Vice President and Controller 	 
	 
	 	CELANESE LTD.

By: CELANESE INTERNATIONAL CORPORATION, its general
partner

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 

[First Supplemental Indenture]

 

 

	 	 	 	 	 
	 	TRUSTEE:

WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ John C. Stohlmann
 	 
	 	 	Name:  	John C.Stohlmann 	 
	 	 	Title:  	Vice President 	 
	 

[First Supplemental Indenture]

 

 

EXHIBIT I

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS
NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.

CELANESE US HOLDINGS LLC

57⁄8% SENIOR NOTES DUE 2021

			
	No. [       ]
	 	$[      ]
	 
	 	CUSIP No. [            ]

     CELANESE US HOLDINGS LLC, a Delaware limited liability company, for value received, promises
to pay to Cede & Co., or registered assigns, the principal sum of ______________________ United
States Dollars (US$__________) on June 15, 2021.

     Interest Payment Dates: June 15 and December 15.

     Regular Record Dates: June 1 and December 1.

     Additional provisions of this Note are set forth on the other side of this Note.

Exhibit I-1

 

     IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed.

	 	 	 	 	 
	 	CELANESE US HOLDINGS LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:

Exhibit I-2

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

Dated:

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 

Exhibit I-3

 

	 	 	 	 	 

(Reverse
of Note)

57⁄8% Senior Note due 2021

1. Interest

          CELANESE US HOLDINGS LLC., a Delaware limited liability company (the “Issuer”), promises to
pay interest on the principal amount of this Note at the rate per annum shown above. The Issuer
shall pay interest semiannually on June 15 and December 15 of each year, commencing December 15,
2011. Interest on the Notes shall accrue from the most recent date to which interest has been paid
or duly provided for or, if no interest has been paid or duly provided for, from May 6, 2011 until
the principal hereof is due. Interest shall 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, at the rate
borne by the Notes, and it shall pay interest on overdue installments of interest at the same rate
to the extent lawful.

2. Method of Payment

          The Issuer shall pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders at the close of business on the June 1 or December 1 next preceding the interest
payment date even if Notes are canceled after the record date and on or before the interest payment
date (whether or not a Business Day). Holders must surrender Notes to a Paying Agent to collect
principal payments. The Issuer shall pay principal, premium, if any, and interest in money of the
United States of America that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Notes represented by a Global Note (including principal,
premium, if any, and interest) shall be made by wire transfer of immediately available funds to the
accounts specified by The Depository Trust Company, the Issuer or any successor depositary. The
Issuer will make all payments in respect of a certificated Note (including principal, premium, if
any, and interest), at the office of each Paying Agent, except that, at the option of the Issuer,
payment of interest may be made by mailing a check to the registered address of each Holder
thereof.

3. Paying Agent and Registrar

          Initially, Wells Fargo Bank, National Association (the “Trustee”), will act as Paying Agent
and Registrar. The Issuer may appoint and change any Paying Agent or Registrar without notice.
The Issuer or any of its Subsidiaries may act as Paying Agent or Registrar.

4. Indenture

          The Issuer issued the Notes under an Indenture (the “Base Indenture”), dated as of May
6, 2011, among the Issuer, Celanese Corporation, a Delaware corporation (the “Parent
Guarantor”), and the Trustee, as amended by the First Supplemental Indenture, dated May 6, 2011
(the “First Supplemental Indenture” and, together with the Base Indenture, the
“Indenture”), among the Issuer, the guarantors party thereto (the “Guarantors”) and the
Trustee, which collectively constitutes the Indenture governing the Notes. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture by reference to the
Trust

Exhibit I-4

 

Indenture Act of 1939, as amended as in effect on the date of the Indenture (the
“TIA”). The Notes include all terms and provisions of the Indenture, and Holders are
referred to the Indenture and the TIA for a statement of such terms and provisions. This Note is
one of a series of securities designated as the 57⁄8% Senior Notes due 2021 of the Issuer.
Capitalized terms used herein have the same meanings given in the Indenture unless otherwise
indicated.

          The aggregate principal amount at maturity of the Notes which may be authenticated and
delivered under the Indenture shall be unlimited. In addition, the aggregate principal amount of
Securities of any class or series which may be authenticated and delivered under the Indenture
shall be unlimited, provided that such Securities shall rank equally with the Notes.

5. Optional Redemption

          The Notes may be redeemed, in whole or in part, at the option of the Issuer upon not less than
30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered
address, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the
Applicable Premium as of, and accrued and unpaid interest to the applicable redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date).

6. Sinking Fund

          The Notes are not entitled to the benefit of any mandatory redemption or sinking fund.

7. Denominations, Transfer, Exchange

          The Notes are in fully registered form without coupons in denominations of $1,000 and integral
multiples of $1,000 in excess thereof. A registered Holder may transfer or exchange Notes in
accordance with the Indenture. Upon any such transfer or exchange, the Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements or transfer
documents. No service charge shall be made for any registration of transfer or exchange, but the
Issuer or the Trustee may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith permitted by the Indenture. The
Registrar need not register the transfer of or exchange any Notes selected for redemption (except,
in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or to
transfer or exchange any Note for a period of 15 days prior to a selection of Notes to be redeemed.

8. Persons Deemed Owners

          The registered Holder of this Note shall be treated as the owner of it for all purposes.

Exhibit I-5

 

9. Unclaimed Money

          Subject to any applicable abandoned property law, if money for the payment of principal or
interest held by the Trustee or a Paying Agent remains unclaimed for two years, the Trustee or a Paying Agent, as applicable, shall pay the money to the Issuer upon written request. Thereafter,
Holders entitled to the money must look to the Issuer for payment as general creditors, and the
Trustee and each Paying Agent shall have no further liability with respect to such monies.

10. Discharge and Defeasance

          Subject to certain conditions and limitations set forth in the Indenture, the Issuer may
terminate some of or all its obligations under the Notes and the Indenture if the Issuer deposits
with the Trustee money or U.S. Government Securities for the payment of principal of, premium, if
any, and interest, on, the Notes to redemption or maturity, as the case may be.

11. Modification and Waiver

          Subject to certain exceptions set forth in the Indenture, the Indenture and the Notes may be
amended, or default may be waived, with the consent of the Holders of a majority in principal
amount of the outstanding Notes. Without notice to or the consent of any Holder, the Issuer and
the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any
ambiguity, defect or inconsistency.

12. Defaults and Remedies

          If an Event of Default occurs (other than an Event of Default relating to certain events of
bankruptcy, insolvency or reorganization of the Issuer set forth in the Indenture) and is
continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding
Notes, in each case, by notice to the Issuer, may declare the principal of, premium, if any, and
accrued but unpaid interest on all the Notes to be due and payable. If an Event of Default
relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the
principal of, premium, if any, and interest on all the Notes shall become immediately due and
payable without any declaration or other act on the part of the Trustee or any Holders. Under
certain circumstances, the Holders of a majority in principal amount of the outstanding Notes may
rescind any such acceleration with respect to the Notes and its consequences.

13. Trustee Dealings with the Issuer

          Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its
individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal
with and collect obligations owed to it by the Issuer or its Affiliates and, subject to the
Indenture, may otherwise deal with the Issuer or its Affiliates with the same rights it would have
if it were not Trustee.

Exhibit I-6

 

14. Guarantees

          The Note will be entitled to the benefits of certain Guarantees made for the benefit of the
Holders. Reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the
Holders.

15. No Recourse Against Others

          No director, officer, employee, incorporator or holder of any equity interests in the Issuer
or any Guarantor shall have any liability for or any obligations, covenants or agreements of the
Issuer or the Guarantors under the Notes or the Indenture or for any claim based thereon or
otherwise in respect of, or by reason of, such obligations or their creation. By accepting a Note,
each holder expressly waives and releases all such liability. The waiver and release are a
condition of, and part of the consideration for, the execution of the Indenture and the issuance of
the Notes.

16. Authentication

          This Note shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the other side of this Note.

17. 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 Gifts to
Minors Act).

18. Governing Law

          THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
LAWS OF THE STATE OF NEW YORK.

19. CUSIP Number and ISIN

          Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused the CUSIP number and ISIN to be printed on this Note and has
directed the Trustee to use the CUSIP number and ISIN in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such number either as printed on this
Note or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

          The Issuer will furnish to any Holder of Notes upon written request and without charge to the
Holder a copy of the Indenture and a copy of this Note.

Exhibit I-7

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

I or we assign and transfer this Security to

 

(Print or type assignee’s name, address and zip code)

 

(Insert assignee’s soc. sec. or tax I.D. No.)

and irrevocably appoint ____________ agent to transfer this Note on the books of the Issuer. The
agent may substitute another to act for him.

 

	 	 	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Your Signature:	 	 	 	 
	 

	 	 

	 	 
	 	 
	 	 

(Sign exactly as your name
appears on the face of this Note.)
	 	 

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.

Exhibit I-8

 

OPTION OF HOLDER TO ELECT PURCHASE

          If you want to elect to have all or any part of this Note purchased by the Issuer pursuant to
Section 4.9 of the First Supplemental Indenture, check the box: o

          If your want to have only part of the Note purchased by the Issuer pursuant to Section 4.9 of
the First Supplemental Indenture, state the amount you elect to have purchased:

$                                                            

(multiple of $1,000)

Date:                                                            

	 	 	 	 	 	 	 

	 

	 	Your Signature:	 	 	 	 
	 

	 	 
	 	 

(Sign exactly as your name
appears on the face of this Note)
	 	 

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.

Exhibit I-9

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

          The initial principal amount of this Global Security is $[            ]. The following increases
or decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 	 
	 	 	 	 	Amount of increase	 	of this Global	 	Signature of
	 	 	Amount of decrease in	 	in Principal Amount	 	Security following	 	authorized signatory
	Date of	 	Principal Amount of	 	of this Global	 	such decrease or	 	of Trustee or Debt
	Exchange	 	this Global Security	 	Security	 	increase	 	Securities Custodian
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 

Exhibit I-10

 

Exhibit II-A

NOTATION OF SUBSIDIARY GUARANTEE

          Each of the undersigned (the “Subsidiary Guarantors”) hereby jointly and severally
unconditionally guarantees, to the extent set forth in the First Supplemental Indenture and subject
to the provisions in the Indenture dated as of May 6, 2011 (the “Base Indenture”), among
Celanese US Holdings LLC, a Delaware limited liability company (the “Issuer”), Celanese
Corporation, a Delaware corporation and Wells Fargo Bank, National Association, as trustee (the
“Trustee”), as amended by the First Supplemental Indenture, dated May 6, 2011 (the
“First Supplemental Indenture”), among the Issuer, the guarantors party thereto (the
“Guarantors”) and the Trustee, which collectively constitutes the indenture governing the
Debt Securities (the Base Indenture, as amended by the First Supplemental Indenture, the
“Indenture”), (a) the due and punctual payment of the principal of, premium, if any, and
interest on the Notes, when and as the same shall become due and payable, whether at maturity, by
acceleration or otherwise, the due and punctual payment of interest on overdue principal of,
premium, if any, and, to the extent permitted by law, interest on the Notes, and the due and
punctual performance of all other obligations of the Issuer to the Holders or the Trustee, and
(b) in case of any extension of time of payment or renewal of any Notes or any of such other
obligations, that the same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.

          The obligations of the Subsidiary Guarantors to the Holders and to the Trustee pursuant to
this Guarantee and the Indenture are expressly set forth in Article Six of the First Supplemental
Indenture, and reference is hereby made to the Indenture for the precise terms and limitations of
this Guarantee. Each Holder of the Note to which this Guarantee is endorsed, by accepting such
Note, agrees to and shall be bound by such provisions.

[Signatures on Following Pages]

Exhibit II-A-1

 

          IN WITNESS WHEREOF, each of the Subsidiary Guarantors has caused this Guarantee to be signed
by a duly authorized officer.

	 	 	 	 	 
	 	[                 ]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Exhibit II-A-2

 

Exhibit II-B

NOTATION OF PARENT GUARANTEE

          For value received, the Parent Guarantor hereby absolutely, unconditionally and irrevocably
guarantees to the holder of this Security the payment of principal of, premium, if any, and
interest on, the Security upon which this Parent Guarantee is set forth in the amounts and at the
time when due and payable whether by declaration thereof, or otherwise, and interest on the overdue
principal, premium, if any, and, to the extent lawful, interest, on such Security, to the holder of
such Security and the Trustee on behalf of the Holders, all in accordance with and subject to the
terms and limitations of such Security and Article XI of the Indenture. This Parent Guarantee will
not become effective until the Trustee or authenticating agent duly executes the certificate of
authentication on this Security. This Parent Guarantee shall be governed by and construed in
accordance with the laws of the State of New York, without regard to conflict of law principles
thereof.

Dated:

	 	 	 	 	 
	 	CELANESE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit II-B-1exv10w1

Exhibit 10.1

UNDERWRITING AGREEMENT

May 2, 2011

Merrill Lynch, Pierce, Fenner & Smith

          Incorporated

  As Representative of the several Underwriters

One Bryant Park

New York, New York 10036

Ladies and Gentlemen:

     Introductory. Celanese US Holdings LLC, a Delaware limited liability company (the “Company”),
a wholly-owned subsidiary of Celanese Corporation, a Delaware corporation (the “Parent Guarantor”),
proposes to issue and sell to Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”) and the
other several Underwriters named in Schedule A hereto (the “Underwriters”), acting severally and
not jointly, the respective amounts set forth in such Schedule A of $400.0 million aggregate
principal amount of the Company’s 57⁄8% Senior Notes due 2021 (the “Notes”). MLPF&S has agreed to
act as the representative of the several Underwriters (the “Representative”) in connection with the
offering and sale of the Securities (as defined below).

     The Securities will be issued pursuant to an indenture, to be dated as of the Closing Date (as
defined in Section 2 hereof) (the “Base Indenture”), among the Company, the Guarantors (as defined
below) and Wells Fargo Bank, National Association, as trustee (the “Trustee”). Certain terms of
the Securities will be established pursuant to a supplemental indenture dated as of the Closing
Date (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) to the
Base Indenture. Notes will be issued only in book-entry form in the name of Cede & Co., as nominee
of The Depository Trust Company (the “Depositary”) pursuant to a letter of representations, dated
September 16, 2010 (the “DTC Agreement”), among the Company and the Depositary.

     The payment of principal of, premium, if any, and interest on the Notes will be fully and
unconditionally guaranteed (the “Guarantees”) on a senior unsecured basis, jointly and severally by
(i) the Parent Guarantor and (ii) the subsidiaries of the Parent Guarantor (excluding the Company)
that are listed on Schedule B-1 hereof as “Guarantors” (collectively, the “Guarantors”). The Notes
and the Guarantees are herein collectively referred to as the “Securities.”

     SECTION 1. Representations and Warranties. Each of the Company and the Guarantors,
jointly and severally, hereby represents, warrants and covenants to each Underwriter that, as of
the date hereof and as of the Closing Date:

     (a) Registration Statement. The Company has prepared and filed with the Securities
and Exchange Commission (the “Commission”) a registration statement on Form S-3 (File No.
333-173822), which contains a base prospectus (the “Base Prospectus”), to be used in
connection with the public offering and sale of the Securities. Such registration
statement, as amended, including the financial statements, exhibits and schedules thereto,
at each time of effectiveness under the Securities Act of 1933, as amended, and the rules
and regulations promulgated thereunder (collectively, the “Securities Act”),

 

including any required information deemed to be a part thereof at the
time of effectiveness pursuant to Rule 430B or 430C under the Securities Act or the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder (collectively, the “Exchange Act”), is called the “Registration Statement.” Any
preliminary prospectus supplement relating to the Securities that is filed with the
Commission pursuant to Rule 424(b), together with the Base Prospectus, is hereafter called a
“Preliminary Prospectus.” The term “Prospectus” shall mean the final prospectus supplement
relating to the Securities that is first filed pursuant to Rule 424(b) after the date and
time that this Agreement is executed and delivered by the parties hereto, including the Base
Prospectus. Any reference herein to the Registration Statement, any Preliminary Prospectus
or the Prospectus shall be deemed to refer to and include the documents incorporated by
reference therein pursuant to Item 12 of Form S-3 under the Securities Act; any reference to
any amendment or supplement to any Preliminary Prospectus or the Prospectus shall be deemed
to refer to and include any documents filed after the date of such Preliminary Prospectus or
Prospectus, as the case may be, under the Exchange Act, and incorporated by reference in
such Preliminary Prospectus or Prospectus, as the case may be; and any reference to any
amendment to the Registration Statement shall be deemed to refer to and include any annual
report of the Parent Guarantor filed pursuant to Section 13(a) or 15(d) of the Exchange Act
after the effective date of the Registration Statement that is incorporated by reference in
the Registration Statement.

     (b) Compliance with Registration Requirements. The Parent Guarantor and the
Company meet the requirements for use of Form S-3 under the Securities Act. The
Registration Statement has become effective upon filing with the Commission under the
Securities Act. No stop order suspending the effectiveness of the Registration Statement is
in effect, the Commission has not issued any order or notice preventing or suspending the
use of the Registration Statement, any Preliminary Prospectus or the Prospectus and no
proceedings for such purpose or pursuant to Section 8A of the Securities Act have been
instituted or are pending or, to the best knowledge of the Company, are contemplated or
threatened by the Commission.

     Each of the Preliminary Prospectus and the Prospectus when filed complied in all
material respects with the Securities Act. Each of the Registration Statement and any
post-effective amendment thereto, at each time of effectiveness, at the date hereof and at
the Closing Date, complied and will comply in all material respects with the Securities Act
and did not and will not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the statements
therein not misleading. The Prospectus, as amended or supplemented, as of its date, at the
time of any filing pursuant to Rule 424(b) and, at the Closing Date, did not and will not
contain any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading. The representations and warranties set forth in the two
immediately preceding sentences do not apply to statements in or omissions from the
Registration Statement or any post-effective amendment thereto, or the Preliminary
Prospectus or the Prospectus, or any amendments or supplements thereto, made in reliance
upon and in conformity with information relating to any Underwriter furnished to the Company
in writing by the Representative expressly for use therein, it being understood

2

 

and agreed that the only such information furnished by the Representative
consists of the information described as such in Section 7(b) hereof.

     The documents incorporated by reference in the Registration Statement, the Disclosure
Package (as defined herein) and the Prospectus, when they were filed with the Commission
conformed in all material respects to the requirements of the Exchange Act. Any further
documents so filed and incorporated by reference in the Registration Statement, the
Disclosure Package and the Prospectus or any further amendment or supplement thereto, when
such documents are filed with the Commission will conform in all material respects to the
requirements of the Exchange Act. All documents incorporated or deemed to be incorporated
by reference in the Registration Statement, the Disclosure Package and the Prospectus, as of
their respective dates, when taken together with the other information in the Disclosure
Package, at the Applicable Time and, when taken together with the other information in the
Prospectus, at the Closing Date, did not or will not include an untrue statement of a
material fact or omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

     (c) Well-Known Seasoned Issuer. (i) At the time of filing the Registration
Statement, (ii) at the time of the most recent amendment thereto for the purposes of
complying with Section 10(a)(3) of the Securities Act (whether such amendment was by
post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the
Exchange Act or form of prospectus), (iii) at the time the Company or any person acting on
its behalf (within the meaning, for this clause only, of Rule 163(c) of the Securities Act)
made any offer relating to the Securities in reliance on the exemption of Rule 163 of the
Securities Act, and (iv) at the Applicable Time (with such date and time being used as the
determination date for purposes of this clause (iv)), the Company was and is a “well-known
seasoned issuer” as defined in Rule 405 of the Securities Act. The Registration Statement
is an “automatic shelf registration statement,” as defined in Rule 405 of the Securities Act
that has been filed with the Commission not earlier than three years prior to the Closing
Date; the Company has not received from the Commission any notice pursuant to Rule 401(g)(2)
of the Securities Act objecting to use of the automatic shelf registration statement form;
and the Company has not otherwise ceased to be eligible to use the automatic shelf
registration form.

     (d) The Disclosure Package. The term “Disclosure Package” shall mean (i) the
Preliminary Prospectus, if any, as amended or supplemented, (ii) the issuer free writing
prospectuses as defined in Rule 433 of the Securities Act (each, an “Issuer Free Writing
Prospectus”), if any, identified in Schedule C hereto, (iii) any other free writing
prospectus that the parties hereto shall hereafter expressly agree in writing to treat as
part of the Disclosure Package and (iv) the Final Term Sheet (as defined herein), which also
shall be identified in Schedule C hereto. As of 3:45 p.m. (Eastern time) on the date of
this Agreement (the “Applicable Time”), the Disclosure Package did not contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not
misleading; provided that this representation, warranty and agreement shall not apply to
statements in or omissions from the Disclosure Package based upon and in conformity

3

 

with information furnished to the Company in writing by any Underwriter through the
Representative expressly for use therein, it being understood and agreed that the only such
information furnished by or on behalf of any Underwriter consists of the information
described as such in Section 7(b) hereof.

     (e) Company Not Ineligible Issuer. (i) At the earliest time after the filing of
the Registration Statement relating to the Securities that the Company or another offering
participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Securities
Act and (ii) as of the Applicable Time (with such date being used as the determination date
for purposes of this clause (ii)), the Company was not and is not an “ineligible issuer” (as
defined in Rule 405 of the Securities Act), without taking account of any determination by
the Commission pursuant to Rule 405 of the Securities Act that it is not necessary that the
Company be considered an “ineligible issuer.”

     (f) Issuer Free Writing Prospectuses. Each Issuer Free Writing Prospectus, as of
its issue date and at all subsequent times through the completion of the offering of
Securities under this Agreement or until any earlier date that the Company notified or
notifies the Representative as described in the next sentence, did not, does not and will
not include any information that conflicted, conflicts or will conflict with the information
contained in the Registration Statement, the Disclosure Package or the Prospectus. If at
any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an
event or development as a result of which such Issuer Free Writing Prospectus conflicted or
would conflict with the information contained in the Registration Statement, the Disclosure
Package or the Prospectus, the Company has promptly notified or will promptly notify the
Representative and has promptly amended or supplemented or will promptly amend or
supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct
such conflict. Any Issuer Free Writing Prospectus not identified on Schedule C,
when taken together with the Disclosure Package, did not, and at the Closing Date will not,
contain any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading. The foregoing three sentences do not apply to statements in or
omissions from any Issuer Free Writing Prospectus based upon and in conformity with written
information furnished to the Company by any Underwriter through the Representative
specifically for use therein, it being understood and agreed that the only such information
furnished by any Underwriter consists of the information described as such in Section 7(b)
hereof.

     (g) Distribution of Offering Material by the Company and the Guarantors. Neither
the Company nor any Guarantor has distributed or will distribute, prior to the later of the
Closing Date and the completion of the Underwriters’ distribution of the Securities, any
offering material in connection with the offering and sale of the Securities other than the
Preliminary Prospectus, the Prospectus and any Issuer Free Writing Prospectus reviewed and
consented to by the Representative.

     (h) No Applicable Registration or Other Similar Rights. There are no persons with
registration or other similar rights to have any equity or debt securities registered

4

 

for sale under the Registration Statement or included in the offering
contemplated by this Agreement, except for such rights as have been duly waived.

     (i) The Underwriting Agreement. This Agreement has been duly authorized, executed
and delivered by the Company and the Guarantors and is a valid and binding agreement of the
Company and the Guarantors.

     (j) The DTC Agreement. The DTC Agreement has been duly authorized, executed and
delivered by, and constitutes a valid and binding agreement of, the Company, enforceable in
accordance with its terms, except as the enforcement thereof may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors or by general equitable principles.

     (k) Authorization of the Notes and the Guarantees. The Notes to be purchased by
the Underwriters from the Company will on the Closing Date be in the form contemplated by
the Indenture, have been duly authorized for issuance and sale pursuant to this Agreement
and the Indenture and, at the Closing Date, will have been duly executed by the Company and,
when authenticated in the manner provided for in the Indenture and delivered against payment
of the purchase price therefor, will constitute valid and binding obligations of the
Company, enforceable against the Company in accordance with their terms, except as the
enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or
other similar laws relating to or affecting the rights and remedies of creditors or by
general equitable principles and will be entitled to the benefits of the Indenture. The
Guarantees of the Notes on the Closing Date will be in the respective forms contemplated by
the Indenture and have been duly authorized pursuant to this Agreement and the Indenture;
the Guarantees of the Notes, at the Closing Date, will have been duly executed by each of
the Guarantors and, when the Notes have been authenticated in the manner provided for in the
Indenture and issued and delivered against payment of the purchase price therefor, the
Guarantees of the Notes will constitute valid and binding agreements of the Guarantors;
enforceable against the Guarantors in accordance with their terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other
similar laws relating to or affecting the rights and remedies of creditors or by general
equitable principles and will be entitled to the benefits of the Indenture.

     (l) Authorization of the Indenture. The Indenture has been duly authorized by the
Company and the Guarantors and, at the Closing Date, will have been duly executed and
delivered by the Company and the Guarantors and will constitute a valid and binding
agreement of the Company and the Guarantors, enforceable against the Company and the
Guarantors in accordance with its terms, except as the enforcement thereof may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or
affecting the rights and remedies of creditors or by general equitable principles.

     (m) Description of the Securities and the Indenture. The Securities and the
Indenture will conform in all material respects to the respective statements relating there

5

 

to
contained in the Disclosure Package and the Prospectus under the captions
“Description of the Notes” and “Description of Debt Securities and Guarantees.”

     (n) No Material Adverse Change. Except as otherwise disclosed in the Disclosure
Package and the Prospectus (exclusive of any amendment or supplement thereto), subsequent to
the respective dates as of which information is given in the Prospectus (exclusive of any
amendment or supplement thereto), (i) there has been no material adverse change, or any
development that could reasonably be expected to result in a material adverse change, in the
financial condition, or in the earnings, business or operations, whether or not arising from
transactions in the ordinary course of business, of the Parent Guarantor and its
subsidiaries, considered as one entity (any such change is called a “Material Adverse
Change”); (ii) the Parent Guarantor and its subsidiaries, considered as one entity, have not
incurred any material liability or obligation, indirect, direct or contingent, not in the
ordinary course of business nor entered into any material transaction or agreement not in
the ordinary course of business; and (iii) there has been no dividend or distribution of any
kind declared, paid or made by the Parent Guarantor or, except for dividends paid to the
Parent Guarantor or any of its other subsidiaries, by any of its subsidiaries on any class
of capital stock or repurchase or redemption by the Parent Guarantor or any of its
subsidiaries of any class of capital stock.

     (o) Independent Accountants. KPMG LLP, which expressed its opinion with respect to
the consolidated financial statements (which term as used in this Agreement includes the
related notes thereto) included in the December 31, 2010 Annual Report on Form 10-K of the
Parent Guarantor filed with the Commission and incorporated by reference in the Registration
Statement, the Disclosure Package and the Prospectus, is an independent registered public
accounting firm within the meaning of the Securities Act, the Exchange Act and the rules of
the Public Company Accounting Oversight Board, and any non-audit services provided by KPMG
LLP or any KPMG non-U.S. member firm affiliate to the Parent Guarantor or any of its
subsidiaries have been approved by the Audit Committee of the Board of Directors of the
Parent Guarantor.

     (p) Preparation of the Financial Statements. The consolidated financial statements
of the Parent Guarantor, together with the related schedules and notes, filed with the
Commission as part of or incorporated by reference in the Registration Statement and
included or incorporated by reference in the Disclosure Package and the Prospectus present
fairly the consolidated financial position of the entities to which they relate as of and at
the dates indicated and the results of their operations and cash flows for the periods
specified. Such consolidated financial statements have been prepared in conformity with
generally accepted accounting principles as applied in the United States (“GAAP”) applied on
a consistent basis throughout the periods involved, except as may be expressly stated in the
related notes thereto. The financial data set forth in the Disclosure Package and the
Prospectus under the caption “Capitalization” presents fairly the information set forth
therein on a basis consistent with that of the audited financial statements contained in the
Registration Statement, except that any non-GAAP financial measures included under such
captions have not been presented in accordance with GAAP. The statistical and
market-related data and forward-looking statements included in the Disclosure Package and
the Prospectus are based on or derived from sources that

6

 

the Company believes to be reliable and accurate in all material respects and represent
their good faith estimates that are made on the basis of data derived from such sources.

     (q) Incorporation and Good Standing of the Company and the Guarantors. Each of the
Company and the Guarantors has been duly incorporated or formed, as applicable, and is
validly existing as a corporation, limited partnership or limited liability company, as
applicable, in good standing under the laws of the jurisdiction of its incorporation or
formation, as applicable, and has corporate, partnership or limited liability company, as
applicable, power and authority to own, lease and operate its properties and to conduct its
business as described in the Disclosure Package and the Prospectus and to enter into and
perform its obligations under each of this Agreement, the DTC Agreement, the Securities and
the Indenture, as applicable. Each of the Company and the Guarantors is duly qualified as a
foreign corporation, limited partnership or limited liability company, as applicable, to
transact business and is in good standing or equivalent status in each jurisdiction in which
such qualification is required, whether by reason of the ownership or leasing of property or
the conduct of business, except for such jurisdictions where the failure to so qualify or to
be in good standing would not, individually or in the aggregate, result in a Material
Adverse Change. All of the issued and outstanding capital stock or other ownership interest
of each of the Company and the Guarantors (other than the Parent Guarantor) has been duly
authorized and validly issued, is fully paid and nonassessable and is owned by the Parent
Guarantor, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance or claim, except as disclosed in the Disclosure Package
and the Prospectus. Except as set forth on Schedule B-2, the Parent Guarantor does not own
or control, directly or indirectly, any corporation, association or other entity that would
be required to be listed in Exhibit 21 to an Annual Report on Form 10-K of the Parent
Guarantor, other than those listed in Exhibit 21.1 to the Parent Guarantor’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2010.

     (r) Capitalization and Other Capital Stock Matters. At March 31, 2011, on a
consolidated basis, after giving pro forma effect to the issuance and sale of the Securities
pursuant hereto, the Parent Guarantor would have an authorized and outstanding
capitalization as set forth in the Disclosure Package and Prospectus under the caption
“Capitalization” (other than for subsequent issuances of capital stock, if any, pursuant to
employee benefit plans described in the Disclosure Package and the Prospectus or upon
exercise of outstanding options or warrants described in the Disclosure Package and the
Prospectus). All of the outstanding shares of Series A common stock of the Parent Guarantor
(the “Common Stock”) have been duly authorized and validly issued, are fully paid and
nonassessable and have been issued in compliance with federal and state securities laws.
None of the outstanding shares of Common Stock were issued in violation of any preemptive
rights, rights of first refusal or other similar rights to subscribe for or purchase
securities of the Parent Guarantor.

     (s) Non-Contravention of Existing Instruments; No Further Authorizations or
Approvals Required. Neither the Parent Guarantor nor any of its subsidiaries is (i) in
violation of its charter, bylaws or other constitutive document or (ii) in default (or, with
the giving of notice or lapse of time, would be in default) (“Default”) under any in-

7

 

denture, mortgage, loan or credit agreement, note, contract, franchise, lease or other
instrument to which the Parent Guarantor or any of its subsidiaries is a party or by which
it or any of them may be bound (including, without limitation, that certain Amended and
Restated Credit Agreement, dated as of September 29, 2010, among Celanese Corporation,
Celanese US Holdings LLC, the subsidiaries of Celanese US Holdings LLC from time to time
party thereto as borrowers and guarantors, Deutsche Bank AG, New York Branch, as
administrative agent and collateral agent, Deutsche Bank Securities LLC and Banc of
Americas Securities LLC as joint lead arrangers and joint book runners, HSBC Securities
(USA) Inc., JPMorgan Chase Bank, N.A., and The Royal Bank of Scotland PLC, as
Co-Documentation Agents, the other lenders party thereto, and certain other agents for such
lenders, or to which any of the property or assets of the Parent Guarantor or any of its
subsidiaries is subject (each, an “Existing Instrument”), except, in the case of clause (ii)
above, for such Defaults as would not, individually or in the aggregate, result in a
Material Adverse Change. The execution, delivery and performance of this Agreement, the DTC
Agreement and the Indenture by the Company and the Guarantors, as applicable, and the
issuance and delivery of the Securities, and consummation of the transactions contemplated
hereby and thereby and by the Disclosure Package and the Prospectus (i) have been duly
authorized by all necessary corporate action and will not result in any violation of the
provisions of the charter, bylaws or other constitutive document of the Company or any
Guarantor, (ii) will not conflict with or constitute a breach of, or Default or a Debt
Repayment Triggering Event (as defined below) under, or result in the creation or imposition
of any lien, charge or encumbrance upon any property or assets of the Parent Guarantor or
any of its subsidiaries pursuant to, or require the consent of any other party to, any
Existing Instrument, except for such conflicts, breaches, Defaults, liens, charges or
encumbrances as would not, individually or in the aggregate, result in a Material Adverse
Change and (iii) will not result in any violation of any law, administrative regulation or
administrative or court decree applicable to the Parent Guarantor or any subsidiary, except
for such violations as would not, individually or in the aggregate, result in a Material
Adverse Change. No consent, approval, authorization or other order of, or registration or
filing with, any court or other governmental or regulatory authority or agency is required
for the execution, delivery and performance of this Agreement, the DTC Agreement or the
Indenture by the Company and the Guarantors, or the issuance and delivery of the Securities,
or consummation of the transactions contemplated hereby and thereby and by the Disclosure
Package and the Prospectus, except such as have been obtained or made by the Company and are
in full force and effect under the Securities Act, applicable securities laws of the several
states of the United States or provinces of Canada. As used herein, a “Debt Repayment
Triggering Event” means any event or condition which gives, or with the giving of notice or
lapse of time would give, the holder of any note, debenture or other evidence of
indebtedness (or any person acting on such holder’s behalf) the right to require the
repurchase, redemption or repayment of all or a portion of such indebtedness by the Parent
Guarantor or any of its subsidiaries.

     (t) No Material Actions or Proceedings. Except as otherwise disclosed in the
Disclosure Package and the Prospectus, there are no legal or governmental actions, suits or
proceedings pending or, to the best of the Company’s knowledge, threatened (i) against or
affecting the Parent Guarantor or any of its subsidiaries or (ii) which has as the

8

 

subject thereof any property owned or leased by, the Parent Guarantor or any of its
subsidiaries and that, with respect to any such action, suit or proceeding, if determined
adversely to the Parent Guarantor or such subsidiary, would result in a Material Adverse
Change or adversely affect the consummation of the transactions contemplated by this
Agreement.

     (u) Intellectual Property Rights. To the knowledge of the Parent Guarantor, the
Parent Guarantor and its subsidiaries own or possess sufficient trademarks, trade names,
patent rights, copyrights, trade secrets, licenses of the foregoing and other similar rights
(collectively, “Intellectual Property Rights”) reasonably necessary to conduct their
businesses as now conducted; and the expected expiration of any of such Intellectual
Property Rights would not result in a Material Adverse Change. Neither the Parent Guarantor
nor any of its subsidiaries has received any notice of infringement or conflict with
asserted Intellectual Property Rights of others (other than any such notice received more
than one year before the date hereof with respect to which no action has been taken during
such one (1) year period to the Parent Guarantor’s knowledge), which infringement or
conflict, if the subject of an unfavorable decision, would result in a Material Adverse
Change.

     (v) All Necessary Permits, etc. Except as would not, individually or in the
aggregate, reasonably be expected to result in a Material Adverse Change, (i) the Parent
Guarantor and each of its subsidiaries possess such valid and current certificates,
authorizations or permits issued by the appropriate state, federal or foreign regulatory
agencies or bodies necessary to own, lease and operate its properties and to conduct their
respective businesses as described in the Disclosure Package and the Prospectus, and (ii)
neither the Parent Guarantor nor any subsidiary has received any notice of proceedings
relating to the revocation or modification of, or non-compliance with, any such certificate,
authorization or permit.

     (w) Title to Properties. Except as otherwise disclosed in the Disclosure Package
and the Prospectus, the Parent Guarantor and each of its subsidiaries has good and
marketable title to all the properties and assets reflected as owned in the financial
statements referred to in Section 1(p) hereof (except for any leased properties or assets
classified as owned in accordance with GAAP), in each case free and clear of any security
interests, mortgages, liens, encumbrances, equities, claims and other defects, except as
disclosed in the Disclosure Package and the Prospectus and except such as do not materially
and adversely affect the value of such property and do not materially interfere with the use
made of such property by the Parent Guarantor or such subsidiary. The real property,
improvements, equipment and personal property held under lease by the Parent Guarantor or
any subsidiary are held under valid and enforceable leases, with such exceptions as are not
material and do not materially interfere with the use made of such real property,
improvements, equipment or personal property by the Parent Guarantor or such subsidiary.

     (x) Tax Law Compliance. Except as would not, individually or in the aggregate,
result in a Material Adverse Change, (i) the Parent Guarantor and each of its consolidated
subsidiaries has filed all federal, state, provincial, local and foreign tax returns

9

 

required to be filed and has paid all taxes (including taxes payable in the capacity of
a withholding agent) required to be paid by it and, if due and payable, any related or
similar assessment, fine or penalty levied against it except as may be being contested in
good faith and by appropriate proceedings, (ii) the Parent Guarantor has made charges,
accruals and reserves in accordance with GAAP in the applicable financial statements
referred to in Section 1(p) hereof in respect of all taxes for all periods as to which the
tax liability of the Parent Guarantor or any of its consolidated subsidiaries has not been
finally determined and (iii) there is no deficiency, assessment or other claim made in
writing that is due and payable by the Parent Guarantor or any of its consolidated
subsidiaries.

     (y) Investment Company Act of 1940, as Amended. Neither the Company nor any
Guarantor is required, and upon the issuance and sale of the Securities as herein
contemplated and the application of the net proceeds therefrom as described in the
Preliminary Prospectus and the Prospectus will not be required, to register as an
“investment company” under the Investment Company Act of 1940, as amended.

     (z) Insurance. Each of the Parent Guarantor and its subsidiaries are insured with
policies in such amounts and with such deductibles and covering such risks as are generally
deemed adequate and customary for their businesses. The Parent Guarantor has no reason to
believe that it or any subsidiary will not be able (i) to renew its material existing
insurance coverage as and when such policies expire or (ii) to obtain comparable coverage
from similar institutions as may be necessary or appropriate to conduct its business as now
conducted and at a cost that would not result in a Material Adverse Change. Neither the
Parent Guarantor nor any subsidiary has been denied any material insurance coverage which it
has sought or for which it has applied.

     (aa) No Price Stabilization or Manipulation. None of the Company or any of the
Guarantors has taken or will take, directly or indirectly, any action designed to or that
might be reasonably expected to cause or result in stabilization or manipulation of the
price of any security of the Company to facilitate the sale or resale of the Securities.

     (bb) Solvency. The Parent Guarantor and its subsidiaries on a consolidated basis
are, and immediately after the Closing Date will be, Solvent. As used herein, the term
“Solvent” means, with respect to any person on a particular date, that on such date (i) the
fair market value of the assets of such person is greater than the total amount of
liabilities (including contingent liabilities) of such person, (ii) the present fair salable
value of the assets of such person is greater than the amount that will be required to pay
the probable liabilities of such person on its debts as they become absolute and matured,
(iii) such person is able to realize upon its assets and pay its debts and other
liabilities, including contingent obligations, as they mature and (iv) such person does not
have unreasonably small capital.

     (cc) Compliance with Sarbanes-Oxley. The Parent Guarantor and its subsidiaries are
in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley
Act of 2002 (the “Sarbanes-Oxley Act,” which term, as used herein, includes the rules and
regulations of the Commission promulgated thereunder).

10

 

     (dd) The Parent Guarantor’s Accounting System. The Parent Guarantor and its
subsidiaries maintain accounting controls that are designed to provide reasonable assurances
that: (i) transactions are executed in accordance with management’s general or specific
authorization; (ii) transactions are recorded as necessary to permit preparation of
consolidated financial statements in conformity with GAAP and to maintain accountability for
assets; (iii) access to assets is permitted only in accordance with management’s general or
specific authorization; and (iv) the recorded accountability for assets is compared with
existing assets at reasonable intervals and appropriate action is taken with respect to any
differences.

     (ee) Disclosure Controls and Procedures. The Parent Guarantor has established and
maintains disclosure controls and procedures (as such term is defined in Rules 13a-15 and
15d-15 under the Exchange Act); such disclosure controls and procedures are designed to
ensure that material information relating to the Parent Guarantor and its subsidiaries is
made known to the chief executive officer and chief financial officer of the Parent
Guarantor by others within the Parent Guarantor or any of its subsidiaries.

     (ff) Regulations T, U, X. Neither the Company nor any Guarantor nor any of their
respective subsidiaries nor any agent thereof acting on their behalf has taken, and none of
them will take, any action that might cause this Agreement or the issuance or sale of the
Securities to violate Regulation T, Regulation U or Regulation X of the Board of Governors
of the Federal Reserve System.

     (gg) Compliance with and Liability under Environmental Laws. Except as otherwise
disclosed in the Disclosure Package and the Prospectus, or except as would not, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Change: (i)
each of the Parent Guarantor and its subsidiaries and their respective operations and
facilities are in compliance with, and not subject to any known liabilities under,
applicable Environmental Laws, which compliance includes, without limitation, having
obtained and being in compliance with any permits, licenses or other governmental
authorizations or approvals, and having made all filings and provided all financial
assurances and notices, required for the ownership and operation of the business, properties
and facilities of the Parent Guarantor or its subsidiaries under applicable Environmental
Laws; (ii) neither the Parent Guarantor nor any of its subsidiaries has received any written
communication, whether from a governmental authority, citizens group, employee or otherwise,
that alleges that the Parent Guarantor or any of its subsidiaries is in violation of any
Environmental Law; (iii) there is no claim, action or cause of action filed with a court or
governmental authority, no investigation with respect to which the Parent Guarantor has
received written notice, and no written notice by any person or entity alleging actual or
potential liability on the part of the Parent Guarantor or any of its subsidiaries based on
or pursuant to any Environmental Law pending or, to the best of the Parent Guarantor’s
knowledge, threatened against the Parent Guarantor or any of its subsidiaries or any person
or entity whose liability under or pursuant to any Environmental Law the Parent Guarantor or
any of its subsidiaries has retained or assumed either contractually or by operation of law;
(iv) neither the Parent Guarantor nor any of its subsidiaries is conducting or paying for,
in whole or in part, any investigation, response or other corrective action pursuant to any
Environmental Law at any site or facility, nor is any of them subject

11

 

or a party to any order, judgment, decree, contract or agreement which imposes any
obligation or liability under any Environmental Law; (v) no lien, charge, encumbrance or
restriction has been recorded pursuant to any Environmental Law with respect to any assets,
facility or property owned, operated or leased by the Parent Guarantor or any of its
subsidiaries; and (vi) to the best of Parent Guarantor’s knowledge, there are no past or
present actions, activities, circumstances, conditions or occurrences, including, without
limitation, the Release or threatened Release of any Hazardous Material, that could
reasonably be expected to result in a violation of or liability under any Environmental Law
on the part of the Parent Guarantor or any of its subsidiaries, including without
limitation, any such liability which the Parent Guarantor or any of its subsidiaries has
retained or assumed either contractually or by operation of law.

     For purposes of this Agreement, “Environment” means ambient air, indoor air, surface
water, groundwater, drinking water, soil, surface and subsurface strata, and natural
resources such as wetlands, flora and fauna. “Environmental Laws” means the common law and
all federal, state, local and foreign laws or regulations, ordinances, codes, orders,
decrees, judgments and injunctions issued, promulgated or entered thereunder, relating to
pollution or protection of the Environment or human health, including without limitation,
those relating to (i) the Release or threatened Release of Hazardous Materials; and (ii) the
manufacture, processing, distribution, use, generation, treatment, storage, transport,
handling or recycling of Hazardous Materials. “Hazardous Materials” means any substance,
material, chemical, waste, compound, or constituent, in any form, including without
limitation, petroleum and petroleum products, defined or regulated under any Environmental
Law as hazardous or toxic. “Release” means any release, spill, emission, discharge,
deposit, disposal, leak, pumping, pouring, dumping, emptying, injection or leaching into the
Environment, or into, from or through any building, structure or facility of Hazardous
Materials.

     (hh) ERISA Compliance. Except as would not, individually or in the aggregate,
result in a Material Adverse Change, the Parent Guarantor and its subsidiaries and any
“employee benefit plan” (as defined under the Employee Retirement Income Security Act of
1974 (as amended, “ERISA,” which term, as used herein, includes the regulations and
published interpretations thereunder) established or maintained by the Parent Guarantor, its
subsidiaries or their ERISA Affiliates (as defined below) are in compliance with ERISA.
“ERISA Affiliate” means, with respect to the Parent Guarantor or a subsidiary, any member of
any group of organizations described in Section 414 of the Internal Revenue Code of 1986 (as
amended, the “Code,” which term, as used herein, includes the regulations and published
interpretations thereunder) of which the Parent Guarantor or such subsidiary is a member.
Except as would not, individually or in the aggregate, result in a Material Adverse Change,
no “reportable event” (as defined under ERISA) has occurred or is reasonably expected to
occur with respect to any “employee benefit plan” established or maintained by the Parent
Guarantor, its subsidiaries or any of their ERISA Affiliates. Neither the Parent Guarantor,
its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to
incur any material liability under (i) Title IV of ERISA with respect to termination of, or
withdrawal from, any “employee benefit plan” or (ii) Sections 412, 4971, 4975 or 4980B of
the Code. Except as would not, individually or in the aggregate, result in a Material
Adverse Change, each “employee benefit plan”

12

 

established or maintained by the Parent Guarantor, its subsidiaries or any of their
ERISA Affiliates that is intended to be qualified under Section 401 of the Code is so
qualified and nothing has occurred, whether by action or failure to act, which would cause
the loss of such qualification.

     (ii) Compliance with Labor Laws. Except as would not, individually or in the
aggregate, result in a Material Adverse Change, (i) there is (A) no unfair labor practice
complaint pending or, to the best of the Parent Guarantor’s knowledge, threatened against
the Parent Guarantor or any of its subsidiaries before the National Labor Relations Board,
and no grievance or arbitration proceeding arising out of or under collective bargaining
agreements pending, or to the best of the Parent Guarantor’s knowledge, threatened, against
the Parent Guarantor or any of its subsidiaries, (B) no strike, labor dispute, slowdown or
stoppage pending or, to the best of the Parent Guarantor’s knowledge, threatened against the
Parent Guarantor or any of its subsidiaries and (C) no union representation question
existing with respect to the employees of the Parent Guarantor or any of its subsidiaries
and, to the best of the Parent Guarantor’s knowledge, no union organizing activities taking
place and (ii) there has been no violation of any federal, state or local law relating to
discrimination in hiring, promotion or pay of employees or of any applicable wage or hour
laws.

     (jj) No Unlawful Contributions or Other Payments. Neither the Parent Guarantor nor
any of its subsidiaries nor, to the knowledge of the Parent Guarantor, any director,
officer, agent, employee or affiliate of the Parent Guarantor or any of its subsidiaries is
aware of or has taken any action, directly or indirectly, that would result in a violation
by such persons of the FCPA, including, without limitation, making use of the mails or any
means or instrumentality of interstate commerce corruptly in furtherance of an offer,
payment, promise to pay or authorization of the payment of any money, or other property,
gift, promise to give, or authorization of the giving of anything of value to any “foreign
official” (as such term is defined in the FCPA) or any foreign political party or official
thereof or any candidate for foreign political office, in contravention of the FCPA and the
Parent Guarantor, its subsidiaries and, to the knowledge of the Parent Guarantor, its
affiliates have conducted their businesses in compliance with the FCPA and have instituted
and maintain policies and procedures designed to ensure, and which are reasonably expected
to continue to ensure, continued compliance therewith.

     ”FCPA” means Foreign Corrupt Practices Act of 1977, as amended, and the rules and
regulations thereunder.

     (kk) No Conflict with Money Laundering Laws. The operations of the Parent
Guarantor and its subsidiaries are and have been conducted at all times in compliance with
applicable financial recordkeeping and reporting requirements of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, the money laundering statutes of all
applicable jurisdictions, the rules and regulations thereunder and any related or similar
rules, regulations or guidelines issued, administered or enforced by any governmental agency
(collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving

13

 

the Parent
Guarantor or any of its subsidiaries with respect to the Money
Laundering Laws is pending or, to the best knowledge of the Parent Guarantor,
threatened.

     (ll) No Conflict with OFAC Laws. Neither the Parent Guarantor nor any of its
subsidiaries nor, to the knowledge of the Parent Guarantor, any director, officer, agent,
employee or affiliate of the Parent Guarantor or any of its subsidiaries is currently
subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the
U.S. Treasury Department (“OFAC”); and the Parent Guarantor will not directly or indirectly
use the proceeds of the offering, or lend, contribute or otherwise make available such
proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose
of financing the activities of any person currently subject to any U.S. sanctions
administered by OFAC.

     Any certificate signed by an officer of the Company or any Guarantor and delivered to the
Underwriters or to counsel for the Underwriters shall be deemed to be a representation and warranty
by the Company or such Guarantor to each Underwriter as to the matters set forth therein.

     SECTION 2. Purchase, Sale and Delivery of the Securities.

          (a) The Securities. Each of the Company and the Guarantors agrees to issue and sell to
the Underwriters, severally and not jointly, all of the Securities, and, subject to the conditions
set forth herein, the Underwriters agree, severally and not jointly, to purchase from the Company
and the Guarantors the aggregate principal amount of Securities set forth opposite their names on
Schedule A, at a purchase price of 98.250% of the principal amount thereof payable on the Closing
Date, in each case, on the basis of the representations, warranties and agreements herein
contained, and upon the terms herein set forth.

          (b) The Closing Date. Delivery of certificates for the Notes in global form to be
purchased by the Underwriters and payment therefor shall be made at the offices of Cahill Gordon &
Reindel llp, 80 Pine Street, New York, NY 10005 (or such other place as may be agreed to
by the Company and MLPF&S) at 9:00 a.m. New York City time, on May 6, 2011, or such other time and
date as MLPF&S shall designate by notice to the Company (the time and date of such closing are
called the “Closing Date”).

          (c) Public Offering of the Notes. The Representative hereby advises the Company that the
Underwriters intend to offer for sale to the public, as described in the Disclosure Package and the
Prospectus, their respective portions of the Notes as soon after this Agreement has been executed
the Representative, in its sole judgment, has determined is advisable and practicable.

          (d) Payment for the Notes. Payment for the Notes shall be made on the Closing Date by
wire transfer of immediately available funds to the order of the Company.

     It is understood that the Representative has been authorized, for its own account and the
accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of
the purchase price for, the Notes. MLPF&S, individually and not as the Representative of the
Underwriters, may (but shall not be obligated to) make payment for any Notes to be purchased

14

 

by any Underwriter whose funds shall not have been received by the Representative by the
Closing Date for the account of such Underwriter, but any such payment shall not relieve such
Underwriter from any of its obligations under this Agreement.

          (e) Delivery of the Securities. The Company shall deliver, or cause to be delivered, to
MLPF&S for the accounts of the several Underwriters certificates for the Notes at the Closing Date
against the irrevocable release of a wire transfer of immediately available funds for the amount of
the purchase price therefor. The certificates for the Notes shall be in such denominations and
registered in the name of Cede & Co., as nominee of the Depositary, pursuant to the DTC Agreement,
and shall be made available for inspection on the business day preceding the Closing Date at a
location in New York City, as MLPF&S may designate. Time shall be of the essence, and delivery at
the time and place specified in this Agreement is a further condition to the obligations of the
Underwriters.

          (f) Delivery of Prospectus to the Underwriters. Not later than 10:00 a.m. on the second
business day following the date the Notes are first released by the Underwriters for sale to the
public, the Company shall deliver or cause to be delivered, copies of the Prospectus in such
quantities and at such places as the Representative shall reasonably request.

     SECTION 3. Additional Covenants. Each of the Company and the Guarantors, jointly and
severally, further covenants and agrees with each Underwriter as follows:

     (a) Representative Review of Proposed Amendments and Supplements. During the
period beginning at the Applicable Time and ending on the later of the Closing Date or such
date, as in the opinion of counsel for the Underwriters, the Prospectus is no longer
required by law to be delivered in connection with sales by an Underwriter or dealer,
including in circumstances where such requirement may be satisfied pursuant to Rule 172 (the
“Prospectus Delivery Period”), prior to amending or supplementing the Registration
Statement, the Disclosure Package or the Prospectus, the Company shall furnish to the
Representative for review a copy of each such proposed amendment or supplement.

     (b) Securities Act Compliance. After the date of this Agreement and during the
Prospectus Delivery Period, the Company shall promptly advise the Representative in writing
(i) when the Registration Statement, if not effective at the Applicable Time, shall have
become effective, (ii) of the receipt of any comments of, or requests for additional or
supplemental information from, the Commission, (iii) of the time and date of any filing of
any post-effective amendment to the Registration Statement or any amendment or supplement to
any Preliminary Prospectus or the Prospectus, (iv) of the time and date that any
post-effective amendment to the Registration Statement becomes effective, and (v) of the
issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement or of any order or notice preventing or suspending the use of the
Registration Statement, any Preliminary Prospectus or the Prospectus, or of any receipt by
the Company of any notification with respect to the suspension of the qualification of the
Notes for sale in any jurisdiction or of the threatening or initiation of any proceedings
for any of such purposes (including any notice or order pursuant to Section 8A or Rule
401(g)(2) of the Securities Act). The Company shall use commercially reasonable efforts

15

 

to prevent the issuance of any such stop order or notice of prevention or suspension of
such use. If the Commission shall enter any such stop order or issue any such notice at any
time, the Company will use commercially reasonable efforts to obtain the lifting or reversal
of such order or notice at the earliest possible moment, or, subject to Section 3(a), will
file an amendment to the Registration Statement or will file a new registration statement
and use its best efforts to have such amendment or new registration statement declared
effective as soon as practicable. Additionally, the Company agrees that it shall comply
with the provisions of Rules 424(b) and 430B, as applicable, under the Securities Act,
including with respect to the timely filing of documents thereunder, and will use
commercially reasonable efforts to confirm that any filings made by the Company under such
Rule 424(b) were received in a timely manner by the Commission.

     (c) Exchange Act Compliance. During the Prospectus Delivery Period, the Company
will file all documents required to be filed with the Commission and the New York Stock
Exchange (“NYSE”) pursuant to Section 13, 14 or 15 of the Exchange Act in the manner and
within the time periods required by the Exchange Act.

     (d) Final Term Sheet. The Company will prepare a final term sheet in a form
approved by the Representative, and will file such term sheet pursuant to Rule 433(d) under
the Securities Act within the time required by such rule (such term sheet, the “Final Term
Sheet”).

     (e) Permitted Free Writing Prospectuses. The Company represents that it has not
made, and agrees that, unless it obtains the prior written consent of the Representative, it
will not make, any offer relating to the Notes that constitutes or would constitute an
Issuer Free Writing Prospectus or that otherwise constitutes or would constitute a “free
writing prospectus” (as defined in Rule 405 of the Securities Act) or a portion thereof
required to be filed by the Company with the Commission or retained by the Company under
Rule 433 of the Securities Act; provided that the prior written consent of the
Representative hereto shall be deemed to have been given in respect of the Free Writing
Prospectuses included in Schedule C hereto and any electronic road show. Any such free
writing prospectus consented to by the Representative is hereinafter referred to as a
“Permitted Free Writing Prospectus.” The Company agrees that (i) it has treated and will
treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing
Prospectus, and (ii) has complied and will comply, as the case may be, with the requirements
of Rules 164 and 433 of the Securities Act applicable to any Permitted Free Writing
Prospectus, including in respect of timely filing with the Commission, legending and record
keeping. The Company consents to the use by any Underwriter of a free writing prospectus
that (a) is not an “issuer free writing prospectus” as defined in Rule 433, or (b) contains
only (1) information describing the preliminary terms of the Securities or their offering,
(2) information that describes the final terms of the Securities or their offering and that
is included in the Final Term Sheet of the Company contemplated in Section 1(d) or (3)
information permitted under Rule 134 under the Securities Act; provided that each
Underwriter severally covenants with the Company not to take any action without the
Company’s consent which consent shall be confirmed in writing that would result in the
Company being required to file with the Commission under Rule 433(d) under the Securities
Act a free writing prospectus prepared by or on behalf of such Underwriter that

16

 

otherwise would not be required to be filed by the Company thereunder, but for the
action of the Underwriter.

     (f) Amendments and Supplements to the Registration Statement, Disclosure Package
and Prospectus and Other Securities Act Matters. If at any time during the Prospectus
Delivery Period, (i) any event shall occur or condition shall exist as a result of which any
of the Disclosure Package or the Prospectus as then amended or supplemented would include
any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under which they
were made, not misleading or (ii) it is necessary to amend or supplement any of the
Registration Statement, Disclosure Package or the Prospectus to comply with law, the Company
and the Guarantors will immediately notify the Underwriters thereof and forthwith prepare
(subject to Section 3(a) hereof), file with the Commission (and use its commercially
reasonable efforts to have any amendment to the Registration Statement or any new
registration statement to be declared effective) furnish at its own expense to the
Underwriters such amendments or supplements to any of the Registration Statement, Disclosure
Package or the Prospectus, or any new registration statement, as may be necessary so that
the statements in any of the Disclosure Package or Prospectus as so amended or supplemented
will not, in the light of the circumstances under which they were made, be misleading or so
that any of the Registration Statement, Disclosure Package or Prospectus will comply with
all applicable law.

     (g) Copies of the Prospectus. The Company agrees to furnish the Underwriters,
without charge, as many copies of the Prospectus and any amendments and supplements thereto
(including any documents incorporated or deemed incorporated by reference therein) and the
Disclosure Package as the Representative may request.

     (h) Blue Sky Compliance. Each of the Company and the Guarantors shall cooperate
with the Representative and counsel for the Underwriters to qualify or register (or to
obtain exemptions from qualifying or registering) all or any part of the Securities for
offer and sale under the securities laws of the several states of the United States, the
provinces of Canada or any other jurisdictions designated by the Representative, shall
comply with such laws and shall continue such qualifications, registrations and exemptions
in effect so long as required for the distribution of the Securities. None of the Company
or any of the Guarantors shall be required to qualify as a foreign corporation or to take
any action that would subject it to general service of process in any such jurisdiction
where it is not presently qualified or where it would be subject to taxation as a foreign
corporation. The Company will advise the Representative promptly of the suspension of the
qualification or registration of (or any such exemption relating to) the Securities for
offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding
for any such purpose, and in the event of the issuance of any order suspending such
qualification, registration or exemption, each of the Company and the Guarantors shall use
its best efforts to obtain the withdrawal thereof at the earliest possible moment.

     (i) Use of Proceeds. The Company shall apply the net proceeds from the sale of the
Securities sold by it in the manner described under the caption “Use of Proceeds” in the
Disclosure Package and the Prospectus.

17

 

     (j) The Depositary. The Company will cooperate with the Underwriters and use its
best efforts to permit the Securities to be eligible for clearance and settlement through
the facilities of the Depositary.

     (k) Filing Fees. The Company agrees to pay the required Commission filing fees
relating to the Securities within the time required by Rule 456(b)(1) of the Securities Act
without regard to the proviso therein and otherwise in accordance with Rules 456(b) and
457(r) of the Securities Act.

     (l) Future Reports to the Representative. During the period of two years hereafter
the Company will furnish to the Representative (i) to the extent not available on the
Commission’s Next-Generation EDGAR filing system, as soon as practicable after the end of
each fiscal year, copies of the Annual Report of the Company containing the balance sheet of
the Company as of the close of such fiscal year and statements of income, stockholders’
equity and cash flows for the year then ended and the opinion thereon of the Company’s
independent public or certified public accountants; and (ii) to the extent not available on
the Commission’s Next-Generation EDGAR filing system, as soon as practicable after the
filing thereof, copies of each proxy statement, Annual Report on Form 10-K, Quarterly Report
on Form 10-Q, Current Report on Form 8-K or other report filed by the Company with the
Commission, the Financial Industry Regulatory Authority, Inc. (“FINRA”) or any securities
exchange.

     (m) No Manipulation of Price. Neither the Company nor any Guarantor will take,
directly or indirectly, any action designed to cause or result in, or that has constituted
or might reasonably be expected to constitute, under the Exchange Act or otherwise, the
stabilization or manipulation of the price of any securities of the Company to facilitate
the sale or resale of the Securities.

     (n) Notice of Inability to Use Automatic Shelf Registration Statement Form. If at
any time during the Prospectus Delivery Period, the Company receives from the Commission a
notice pursuant to Rule 401(g)(2) or otherwise ceases to be eligible to use the automatic
shelf registration statement form, the Company will (i) promptly notify the Representative,
(ii) promptly file a new registration statement or post-effective amendment on the proper
form relating to the Notes, in a form satisfactory to the Representative, (iii) use its best
efforts to cause such registration statement or post-effective amendment to be declared
effective and (iv) promptly notify the Representative of such effectiveness. The Company
will take all other action necessary or appropriate to permit the public offering and sale
of the Notes to continue during the Prospectus Delivery Period as contemplated in the
registration statement that was the subject of the Rule 401(g)(2) notice or for which the
Company has otherwise become ineligible. References herein to the Registration Statement
shall include such new registration statement or post-effective amendment, as the case may
be.

     The Representative on behalf of the several Underwriters, may, in its sole discretion, waive
in writing the performance by the Company or any Guarantor of any one or more of the foregoing
covenants or extend the time for their performance.

18

 

     SECTION 4. Payment of Expenses. Each of the Company and the Guarantors, jointly and
severally, agrees to pay all costs, fees and expenses incurred in connection with the performance
of its obligations hereunder and in connection with the transactions contemplated hereby,
including, without limitation, (i) all expenses incident to the issuance and delivery of the
Securities (including all printing and engraving costs), (ii) all necessary issue, transfer and
other stamp taxes in connection with the issuance and sale of the Securities to the Underwriters,
(iii) all fees and expenses of the Company’s and the Guarantors’ counsel, independent public or
certified public accountants and other advisors, (iv) all costs and expenses incurred in connection
with the preparation, printing, filing, shipping and distribution of the Registration Statement
(including financial statements, exhibits, schedules, consents and certificates of experts), each
Issuer Free Writing Prospectus, each Preliminary Prospectus and the Prospectus, and all amendments
and supplements thereto, and the mailing and delivering of copies thereof to the Underwriters and
dealers, this Agreement, the Indenture, the DTC Agreement and the Securities, (v) all filing fees,
reasonable attorneys’ fees and expenses incurred by the Company, the Guarantors or the Underwriters
in connection with qualifying or registering (or obtaining exemptions from the qualification or
registration of) all or any part of the Securities for offer and sale under the securities laws of
the several states of the United States, the provinces of Canada or other jurisdictions reasonably
designated by the Underwriters (including, without limitation, the cost of preparing, printing and
mailing preliminary and final blue sky or legal investment memoranda) and any related supplements
to the Disclosure Package or the Prospectus, (vi) the fees and expenses of the Trustee, including
the fees and disbursements of counsel for the Trustee in connection with the Indenture and the
Securities, (vii) any fees payable in connection with the rating of the Securities with the ratings
agencies, (viii) any filing fees incident to, and any reasonable fees and disbursements of counsel
to the Underwriters in connection with the review by FINRA, if any, of the terms of the sale of the
Securities, (ix) all fees and expenses (including reasonable fees and expenses of counsel) of the
Company and the Guarantors in connection with approval of the Securities by the Depositary for
“book-entry” transfer, and the performance by the Company and the Guarantors of their respective
other obligations under this Agreement, (x) all expenses incident to the electronic “road show” for
the offering of the Securities, (xi) all other fees, costs and expenses referred to in Item 14 of
Part II of the Registration Statement, and (xii) all other costs and expenses incident to the
performance of their obligations hereunder which are not otherwise specifically provided for in
this Section 4. Except as provided in this Section 4 and Sections 6, 7 and 8 hereof, the
Underwriters shall pay their own expenses, including the fees and disbursements of their counsel.

     SECTION 5. Conditions of the Obligations of the Underwriters. The obligations of the
several Underwriters to purchase and pay for the Securities as provided herein on the Closing Date
shall be subject to the accuracy of the representations and warranties on the part of the Company
and the Guarantors set forth in Section 1 hereof as of the date hereof and as of the Closing Date
as though then made and to the timely performance by the Company of its covenants and other
obligations hereunder, and to each of the following additional conditions:

     (a) Accountants’ Comfort Letter. On the date hereof, the Underwriters shall have
received from KPMG LLP, the independent registered public accounting firm for the Parent
Guarantor, a “comfort letter” dated the date hereof addressed to the Underwriters, in form
and substance satisfactory to the Representative, covering the financial information in the
Disclosure Package and other customary matters. In addition, on

19

 

the Closing Date, the Underwriters shall have received from such accountants a
“bring-down comfort letter” dated the Closing Date addressed to the Underwriters, in form
and substance satisfactory to the Representative, in the form of the “comfort letter”
delivered on the date hereof, except that (i) it shall cover the financial information in
the Prospectus and any amendment or supplement thereto and (ii) procedures shall be brought
down to a date no more than 5 days prior to the Closing Date.

     (b) Compliance with Registration Requirements; No Stop Order; No Objection from
FINRA. For the period from and after effectiveness of this Agreement and prior to the
Closing Date and, with respect to the Securities:

     (i) the Company shall have filed the Prospectus with the Commission
(including the information required by Rules 430A, 430B and 430C under the
Securities Act) in the manner and within the time period required by Rule 424(b)
under the Securities Act;

     (ii) the Final Term Sheet, and any other material required to be filed by
the Company pursuant to Rule 433(d) under the Securities Act, shall have been filed
with the Commission within the applicable time periods prescribed for such filings
under such Rule 433;

     (iii) no stop order suspending the effectiveness of the Registration
Statement, or any post-effective amendment to the Registration Statement, shall be
in effect and no proceedings for such purpose or pursuant to Section 8A of the
Securities Act shall have been instituted or threatened by the Commission; and the
Company shall not have received from the Commission any notice pursuant to Rule
401(g)(2) of the Securities Act objecting to use of the automatic shelf registration
statement form; and

     (c) No Material Adverse Change or Ratings Agency Change. For the period from and
after the date of this Agreement and prior to the Closing Date:

     (i) in the judgment of the Representative there shall not have occurred any
Material Adverse Change; and

     (ii) there shall not have occurred any downgrading, nor shall any notice
have been given of any intended or potential downgrading in the rating accorded the
Parent Guarantor or any of its subsidiaries or any of their securities or
indebtedness by any “nationally recognized statistical rating organization” as such
term is defined in Section 3(a)(62) of the Exchange Act.

     (d) Opinion of Counsel for the Company. On the Closing Date, the Underwriters
shall have received (i) the opinion of Gibson, Dunn & Crutcher LLP, counsel for the Company,
dated as of such Closing Date, the form of which is attached as Exhibit A and (ii) the
opinion of James R. Peacock III, Vice President, Deputy General Counsel and Assistant
Corporate Secretary of the Parent Guarantor, dated as of such Closing Date, the form of
which is attached as Exhibit B.

20

 

     (e) Opinion of Counsel for the Underwriters. On the Closing Date, the
Underwriters shall have received the favorable opinion of Cahill Gordon & Reindel
llp, counsel for the Underwriters, dated as of such Closing Date, with respect to
such matters as may be reasonably requested by the Underwriters.

     (f) Officers’ Certificate. On the Closing Date the Underwriters shall have received a
written certificate executed by an executive officer and a principal financial or accounting
officer of the Company, dated as of the Closing Date, to the effect set forth in Section
5(c)(ii) hereof, and further to the effect that:

     (i) for the period from and after the date of this Agreement and prior to the
Closing Date there has not occurred any Material Adverse Change;

     (ii) the representations, warranties and covenants of the Company and the
Guarantors set forth in Section 1 hereof were true and correct as of the date hereof
and are true and correct as of the Closing Date with the same force and effect as
though expressly made on and as of the Closing Date; and

     (iii) the Company and the Guarantors have complied with all the agreements and
satisfied all the conditions on its part to be performed or satisfied at or prior to
the Closing Date.

     (g) Indenture; Securities. The Company and the Guarantors shall have executed and
delivered the Indenture and the Securities, in form and substance reasonably satisfactory to
the Underwriters, and the Underwriters shall have received executed copies thereof.

     (h) Additional Documents. On or before the Closing Date, the Underwriters and counsel
for the Underwriters shall have received such information, documents and opinions as they
may reasonably require for the purposes of enabling them to pass upon the issuance and sale
of the Securities as contemplated herein, or in order to evidence the accuracy of any of the
representations and warranties, or the satisfaction of any of the conditions or agreements,
herein contained.

     If any condition specified in this Section 5 is not satisfied when and as required to be
satisfied, this Agreement may be terminated by MLPF&S by notice to the Company at any time on or
prior to the Closing Date, which termination shall be without liability on the part of any party to
any other party, except that Sections 4, 6, 7 and 8 hereof shall at all times be effective and
shall survive such termination.

     SECTION 6. Reimbursement of Underwriters’ Expenses. If this Agreement is terminated by the
Representative pursuant to Section 5 or Section 9(i)(x) or (iv) hereof, including if the sale to
the Underwriters of the Securities on the Closing Date is not consummated because of any refusal,
inability or failure on the part of the Company or any Guarantor to perform any agreement herein or
to comply with any provision hereof, the Company and the Guarantors, jointly and severally, agree
to reimburse the Underwriters, severally, upon demand for all out-of-pocket expenses that shall
have been reasonably incurred by the Underwriters in connection with the proposed purchase and the
offering and sale of the Securities, including, without limitation,

21

 

fees and disbursements of counsel, printing expenses, travel expenses, postage, facsimile and
telephone charges.

     SECTION 7. Indemnification.

     (a) Indemnification of the Underwriters. Each of the Company and the Guarantors, jointly and
severally, agrees to indemnify and hold harmless each Underwriter, its affiliates, directors,
officers and employees, and each person, if any, who controls any Underwriter within the meaning of
the Securities Act and the Exchange Act against any loss, claim, damage, liability or expense, as
incurred, to which such Underwriter, affiliate, director, officer, employee or controlling person
may become subject, under the Securities Act, the Exchange Act or other federal or state statutory
law or regulation, or at common law or otherwise (including in settlement of any litigation, if
such settlement is effected with the written consent of the Company), insofar as such loss, claim,
damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or
is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in
the Registration Statement, or any amendment thereto, including any information deemed to be a part
thereof pursuant to Rule 430B or 430C under the Securities Act, or the omission or alleged omission
therefrom of a material fact required to be stated therein or necessary to make the statements
therein not misleading; or (ii) upon any untrue statement or alleged untrue statement of a material
fact contained in any Issuer Free Writing Prospectus, any Preliminary Prospectus or the Prospectus
(or any amendment or supplement thereto), or the omission or alleged omission therefrom of a
material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and to reimburse each Underwriter and each such
affiliate, director, officer, employee or controlling person for any and all expenses (including
the reasonable fees and disbursements of counsel chosen by MLPF&S) as such expenses are reasonably
incurred by such Underwriter or such affiliate, director, officer, employee or controlling person
in connection with investigating, defending, settling, compromising or paying any such loss, claim,
damage, liability, expense or action; provided, however, that the foregoing indemnity agreement
shall not apply, with respect to an Underwriter, to any loss, claim, damage, liability or expense
to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in reliance upon and in conformity with
written information furnished to the Company by such Underwriter through the Representative
expressly for use in the Registration Statement, any Issuer Free Writing Prospectus, any
Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto). The indemnity
agreement set forth in this Section 7(a) shall be in addition to any liabilities that the Company
or the Guarantors may otherwise have.

     (b) Indemnification of the Company and the Guarantors. Each Underwriter agrees, severally and
not jointly, to indemnify and hold harmless the Company, each Guarantor, each officer of the
Company or a Guarantor who signed the Registration Statement, each of their respective directors
and each person, if any, who controls the Company or any Guarantor within the meaning of the
Securities Act or the Exchange Act, against any loss, claim, damage, liability or expense, as
incurred, to which the Company, any Guarantor, any officer of the Company or a Guarantor who signed
the Registration Statement or any such director or controlling person may become subject, under the
Securities Act, the Exchange Act, or other federal or state statutory law or regulation, or at
common law or otherwise (including in settlement of any litigation, if

22

 

such settlement is effected with the written consent of such Underwriter), insofar as such
loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below)
arises out of or is based upon any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement, any Issuer Free Writing Prospectus, any Preliminary
Prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, in each case to the extent,
but only to the extent, that such untrue statement or alleged untrue statement or omission or
alleged omission was made in the Registration Statement, any Issuer Free Writing Prospectus, any
Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto), in reliance upon
and in conformity with written information furnished to the Company by such Underwriter through the
Representative expressly for use therein; and to reimburse the Company, any Guarantor and each such
director or controlling person for any and all expenses (including the fees and disbursements of
counsel) as such expenses are reasonably incurred by the Company, any Guarantor or such director or
controlling person in connection with investigating, defending, settling, compromising or paying
any such loss, claim, damage, liability, expense or action. Each of the Company and the Guarantors
hereby acknowledges that the only information that the Underwriters through the Representative have
furnished to the Company expressly for use in the Registration Statement, any Issuer Free Writing
Prospectus, any Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto)
are the statements set forth in the third sentence of the seventh paragraph and the eighth and
ninth paragraphs under the caption “Underwriting” in the Prospectus. The indemnity agreement set
forth in this Section 7(b) shall be in addition to any liabilities that each Underwriter may
otherwise have.

     (c) Notifications and Other Indemnification Procedures. Promptly after receipt by an
indemnified party under this Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against an indemnifying party
under this Section 7, notify the indemnifying party in writing of the commencement thereof;
provided that the failure to so notify the indemnifying party will not relieve it from any
liability which it may have to any indemnified party under this Section 7 except to the extent that
it has been materially prejudiced by such failure (through the forfeiture of substantive rights and
defenses) and shall not relieve the indemnifying party from any liability that the indemnifying
party may have to an indemnified party other than under this Section 7. In case any such action is
brought against any indemnified party and such indemnified party seeks or intends to seek indemnity
from an indemnifying party, the indemnifying party will be entitled to participate in and, to the
extent that it shall elect, jointly with all other indemnifying parties similarly notified, by
written notice delivered to the indemnified party promptly after receiving the aforesaid notice
from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to
such indemnified party; provided, however, if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnified party shall have reasonably
concluded that a conflict may arise between the positions of the indemnifying party and the
indemnified party in conducting the defense of any such action or that there may be legal defenses
available to it and/or other indemnified parties which are different from or additional to those
available to the indemnifying party, the indemnified party or parties shall have the right to
select separate counsel to assume such legal defenses and to otherwise participate in the defense
of such action on behalf of such indemnified party or parties. Upon receipt of notice from the
indemnifying party to such indemnified party of such indemnifying party’s election so to assume

23

 

the defense of such action and approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this Section 7 for any legal or other
expenses subsequently incurred by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate counsel in accordance with the
proviso to the immediately preceding sentence (it being understood, however, that the indemnifying
party shall not be liable for the expenses of more than one separate counsel (together with local
counsel (in each jurisdiction)), which shall be selected by MLPF&S (in the case of counsel
representing the Underwriters or their related persons), representing the indemnified parties who
are parties to such action) or (ii) the indemnifying party shall not have employed counsel
satisfactory to the indemnified party to represent the indemnified party within a reasonable time
after notice of commencement of the action, in each of which cases the fees and expenses of counsel
shall be at the expense of the indemnifying party.

     (d) Settlements. The indemnifying party under this Section 7 shall not be liable for any
settlement of any proceeding effected without its written consent, which will not be unreasonably
withheld, but if settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage,
liability or expense by reason of such settlement or judgment. No indemnifying party shall,
without the prior written consent of the indemnified party, effect any settlement, compromise or
consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect
of which any indemnified party is or could have been a party and indemnity was or could have been
sought hereunder by such indemnified party, unless such settlement, compromise or consent (i)
includes an unconditional release of such indemnified party from all liability on claims that are
the subject matter of such action, suit or proceeding and (ii) does not include any statements as
to or any findings of fault, culpability or failure to act by or on behalf of any indemnified
party.

     SECTION 8. Contribution. If the indemnification provided for in Section 7 hereof is for any
reason held to be unavailable to or otherwise insufficient to hold harmless an indemnified party in
respect of any losses, claims, damages, liabilities or expenses referred to therein, then each
indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified
party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to
therein (i) in such proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantors, on the one hand, and the Underwriters, on the other hand, from the
offering of the Securities pursuant to this Agreement or (ii) if the allocation provided by clause
(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) above but also the relative fault of the
Company and the Guarantors, on the one hand, and the Underwriters, on the other hand, in connection
with the statements or omissions which resulted in such losses, claims, damages, liabilities or
expenses, as well as any other relevant equitable considerations. The relative benefits received
by the Company and the Guarantors, on the one hand, and the Underwriters, on the other hand, in
connection with the offering of the Securities pursuant to this Agreement shall be deemed to be in
the same respective proportions as the total net proceeds from the offering of the Securities
pursuant to this Agreement (before deducting expenses) received by the Company, and the total
underwriting discount received by the Underwriters, in each case as set forth on the front cover
page of the Prospectus, bear to the aggregate initial offering price of the Securities. The
relative fault of the Company and the Guarantors, on the one hand, and the Underwriters, on the
other

24

 

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

     The amount paid or payable by a party as a result of the losses, claims, damages, liabilities
and expenses referred to above shall be deemed to include, subject to the limitations set forth in
Section 7 hereof, any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim. The provisions set forth in
Section 7 hereof with respect to notice of commencement of any action shall apply if a claim for
contribution is to be made under this Section 8; provided, however, that no additional notice shall
be required with respect to any action for which notice has been given under Section 7 hereof for
purposes of indemnification.

     The Company, the Guarantors and the Underwriters agree that it would not be just and equitable
if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the
Underwriters were treated as one entity for such purpose) or by any other method of allocation
which does not take account of the equitable considerations referred to in this Section 8.

     Notwithstanding the provisions of this Section 8, no Underwriter shall be required to
contribute any amount in excess of the underwriting discount received by such Underwriter in
connection with the Securities distributed by it. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11 of the Securities Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations to
contribute pursuant to this Section 8 are several, and not joint, in proportion to their respective
underwriting commitments as set forth opposite their names in Schedule A. For purposes of this
Section 8, each director, officer and employee of an Underwriter and each person, if any, who
controls an Underwriter within the meaning of the Securities Act and the Exchange Act shall have
the same rights to contribution as such Underwriter, and each director of the Company or any
Guarantor, each officer of the Company or a Guarantor who signed the Registration Statement and
each person, if any, who controls the Company or any Guarantor with the meaning of the Securities
Act and the Exchange Act shall have the same rights to contribution as the Company and the
Guarantors.

     SECTION 9. Termination of this Agreement. Prior to the Closing Date, this Agreement may be
terminated by the Representative by notice given to the Company if at any time: (i) (x) trading or
quotation in any of the Company’s securities shall have been suspended or limited by the Commission
or by the NYSE or (y) trading in securities generally on either the Nasdaq Stock Market or the NYSE
shall have been suspended or materially limited, or minimum or maximum prices shall have been
generally established on any of such quotation system or stock exchange by the Commission or FINRA;
(ii) a general banking moratorium shall have been declared by any of federal, New York or Delaware
authorities; (iii) there shall have occurred any outbreak or escalation of national or
international hostilities or any international or national crisis or calamity, or any change or
development involving a prospective change in the United States or international financial markets,
that in the judgment of the Representative is material and adverse and makes it impracticable or
inadvisable to proceed with the offering, sale or delivery of

25

 

the Securities in the manner and on the terms described in the Disclosure Package or the
Prospectus or to enforce contracts for the sale of securities or (iv) in the judgment of the
Representative there shall have occurred any Material Adverse Change. Any termination pursuant to
this Section 9 shall be without liability on the part of (i) the Company or any Guarantor to any
Underwriter, except that the Company and the Guarantors shall be obligated to reimburse the
expenses of the Underwriter s to the extent required by Sections 4 and 6 hereof, (ii) any
Underwriter to the Company, or (iii) any party hereto to any other party except that the provisions
of Sections 7 and 8 hereof shall at all times be effective and shall survive such termination.

     SECTION 10. Representations and Indemnities to Survive Delivery. The respective indemnities,
agreements, representations, warranties and other statements of the Company, the Guarantors, their
respective officers and the several Underwriters set forth in or made pursuant to this Agreement
will remain in full force and effect, regardless of any investigation made by or on behalf of any
Underwriter, the Company, any Guarantor or any of their partners, officers or directors or any
controlling person, as the case may be, and will survive delivery of and payment for the Securities
sold hereunder and any termination of this Agreement.

     SECTION 11. Notices. All communications hereunder shall be in writing and shall be mailed,
hand delivered, couriered or facsimiled and confirmed to the parties hereto as follows:

If to the Underwriters:

Merrill Lynch, Pierce, Fenner & Smith Incorporated

One Bryant Park

New York, New York 10036

Facsimile: (212) 901-7897

Attention: Legal Department

with a copy to:

Cahill Gordon & Reindel llp

80 Pine Street

New York, NY 10005

Facsimile: 212-269-5420

Attention: James J. Clark, Esq.

If to the Company or the Guarantors:

Celanese Corporation

1601 West LBJ Freeway

Dallas, TX 75234

Facsimile: 214-258-9730

Attention: General Counsel

     Any party hereto may change the address or facsimile number for receipt of communications by
giving written notice to the others.

26

 

     SECTION 12. Successors. This Agreement will inure to the benefit of and be binding upon the
parties hereto, and to the benefit of the indemnified parties referred to in Sections 7 and 8
hereof, and in each case their respective successors, and no other person will have any right or
obligation hereunder.

     SECTION 13. Authority of the Representative. Any action by the Underwriters hereunder may be
taken by MLPF&S on behalf of the Underwriters, and any such action taken by MLPF&S shall be binding
upon the Underwriters.

     SECTION 14. Partial Unenforceability. The invalidity or unenforceability of any section,
paragraph or provision of this Agreement shall not affect the validity or enforceability of any
other section, paragraph or provision hereof. If any section, paragraph or provision of this
Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be
made such minor changes (and only such minor changes) as are necessary to make it valid and
enforceable.

     SECTION
15. Governing Law Provisions. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
IN SUCH STATE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF.

     SECTION 16. Default of One or More of the Several Underwriters. If any one or more of the
several Underwriters shall fail or refuse to purchase Securities that it or they have agreed to
purchase hereunder on the Closing Date, and the aggregate number of Securities which such
defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10%
of the aggregate number of the Securities to be purchased on such date, the other Underwriters
shall be obligated, severally, in the proportions that the number of Securities set forth opposite
their respective names on Schedule A bears to the aggregate number of Securities set forth opposite
the names of all such non-defaulting Underwriters, or in such other proportions as may be specified
by the Underwriters with the consent of the non-defaulting Underwriters, to purchase the Securities
which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the
Closing Date. If any one or more of the Underwriters shall fail or refuse to purchase Securities
and the aggregate number of Securities with respect to which such default occurs exceeds 10% of the
aggregate number of Securities to be purchased on the Closing Date, and arrangements satisfactory
to the Underwriters and the Company for the purchase of such Securities are not made within 48
hours after such default, this Agreement shall terminate without liability of any party to any
other party except that the provisions of Sections 4, 6, 7 and 8 hereof shall at all times be
effective and shall survive such termination. In any such case either the Underwriters or the
Company shall have the right to postpone the Closing Date, as the case may be, but in no event for
longer than seven days in order that the required changes, if any, to the Registration Statement,
any Issuer Free Writing Prospectus, any Preliminary Prospectus or the Prospectus or any other
documents or arrangements may be effected.

     As used in this Agreement, the term “Underwriter” shall be deemed to include any person
substituted for a defaulting Underwriter under this Section 16. Any action taken under this

27

 

Section 16 shall not relieve any defaulting Underwriter from liability in respect of any
default of such Underwriter under this Agreement.

     SECTION 17. No Advisory or Fiduciary Responsibility. Each of the Company and the Guarantors
acknowledges and agrees that: (i) the purchase and sale of the Securities pursuant to this
Agreement, including the determination of the offering price of the Securities and any related
discounts and commissions, is an arm’s-length commercial transaction between the Company and the
Guarantors, on the one hand, and the several Underwriters, on the other hand, and the Company and
the Guarantors are capable of evaluating and understanding and understand and accept the terms,
risks and conditions of the transactions contemplated by this Agreement; (ii) in connection with
each transaction contemplated hereby and the process leading to such transaction each Underwriter
is and has been acting solely as a principal and is not the agent or fiduciary of the Company and
the Guarantors or their respective affiliates, stockholders, creditors or employees or any other
party; (iii) no Underwriter has assumed or will assume an advisory or fiduciary responsibility in
favor of the Company and the Guarantors with respect to any of the transactions contemplated hereby
or the process leading thereto (irrespective of whether such Underwriter has advised or is
currently advising the Company and the Guarantors on other matters) or any other obligation to the
Company and the Guarantors except the obligations expressly set forth in this Agreement; (iv) the
several Underwriters and their respective affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Company and the Guarantors, and
the several Underwriters have no obligation to disclose any of such interests by virtue of any
fiduciary or advisory relationship; and (v) the Underwriters have not provided any legal,
accounting, regulatory or tax advice with respect to the offering contemplated hereby, and the
Company and the Guarantors have consulted their own legal, accounting, regulatory and tax advisors
to the extent they deemed appropriate.

     This Agreement supersedes all prior agreements and understandings (whether written or oral)
between the Company, the Guarantors and the several Underwriters, or any of them, with respect to
the subject matter hereof. The Company and the Guarantors hereby waive and release, to the fullest
extent permitted by law, any claims that the Company and the Guarantors may have against the
several Underwriters with respect to any breach or alleged breach of fiduciary duty.

     SECTION 18. General Provisions. This Agreement constitutes the entire agreement of the
parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral
agreements, understandings and negotiations with respect to the subject matter hereof. This
Agreement may be executed in two or more counterparts, each one of which shall be an original, with
the same effect as if the signatures thereto and hereto were upon the same instrument. Delivery of
an executed counterpart of a signature page to this Agreement by telecopier, facsimile or other
electronic transmission (i.e., a “pdf” or “tif”) shall be effective as delivery of a manually
executed counterpart thereof. This Agreement may not be amended or modified unless in writing by
all of the parties hereto, and no condition herein (express or implied) may be waived unless waived
in writing by each party whom the condition is meant to benefit. The section headings herein are
for the convenience of the parties only and shall not affect the construction or interpretation of
this Agreement.

[Remainder of page intentionally left blank]

28

 

     If the foregoing is in accordance with your understanding of our agreement, kindly sign and
return to the Company the enclosed copies hereof, whereupon this instrument, along with all
counterparts hereof, shall become a binding agreement in accordance with its terms.

	 	 	 	 	 
	 	Very truly yours,

CELANESE US HOLDINGS LLC

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	CELANESE CORPORATION as Guarantor

 	 
	 	By:  	/s/ Steven M. Sterin
 	 
	 	 	Name:  	Steven M. Sterin 	 
	 	 	Title:  	Senior Vice President and 
Chief
Financial Officer 	 
	 

	 	 	 	 	 
	 	CELANESE AMERICAS LLC as Guarantor

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	CELANESE ACETATE LLC as Guarantor

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 

	 	 	 	 	 
	 	CELANESE CHEMICALS, INC. as Guarantor

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 

SIGNATURE PAGE TO UNDERWRITING AGREEMENT

 

 

	 	 	 	 	 
	 	CELANESE FIBERS OPERATIONS LLC as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	CNA HOLDINGS LLC as Guarantor

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	President 	 
	 

	 	 	 	 	 
	 	CELANESE INTERNATIONAL CORPORATION 
as Guarantor

 	 
	 	By:  	/s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 
	 

	 	 	 	 	 
	 	CELTRAN, INC. as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	CNA FUNDING LLC as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	KEP AMERICAS ENGINEERING PLASTICS, LLC 
as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

SIGNATURE PAGE TO UNDERWRITING AGREEMENT

 

 

	 	 	 	 	 
	 	TICONA FORTRON INC. as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	TICONA POLYMERS, INC. as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	TICONA LLC as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	CELANESE GLOBAL RELOCATION LLC as Guarantor

 	 
	 	By:  	/s/ John W. Howard
 	 
	 	 	Name:  	John W. Howard 	 
	 	 	Title:  	Vice President, Tax 	 
	 

	 	 	 	 	 
	 	CELANESE LTD. as Guarantor

 	 
	 	By:  	CELANESE INTERNATIONAL CORPORATION, its general partner
 	 
	 	 	 
	 	By:  	                                                  /s/ Christopher W. Jensen
 	 
	 	 	Name:  	Christopher W. Jensen 	 
	 	 	Title:  	Treasurer 	 

SIGNATURE
PAGE TO UNDERWRITING AGREEMENT

 

 

	 	 	 	 	 

     The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as
of the date first above written.

Merrill
Lynch, Pierce, Fenner & Smith
Incorporated

	 	 	Acting on behalf of itself
and as the Representative of
the several Underwriters

					
	 	
 	 
	 	By:  	Merrill Lynch, Pierce, Fenner & Smith  Incorporated
 	 
	 	 	 
	 	By:  	    /s/ Mark Kushemba
 	 
	 	 	Name:  	Mark Kushemba 	 
	 	 	Title:  	Director 	 
	 

[Signature Page To Underwriting Agreement]

 

 

SCHEDULE A

	 	 	 	 	 
	 	 	Aggregate Principal Amount	 
	Underwriters	 	of Securities to be Purchased	 
	Merrill Lynch, Pierce, Fenner & Smith
Incorporated
	 	$	140,000,000.00	 
	Barclays Capital Inc.
	 	 	40,000,000.00	 
	Deutsche Bank Securities Inc.
	 	 	40,000,000.00	 
	HSBC Securities (USA) Inc.
	 	 	40,000,000.00	 
	Morgan Stanley & Co. Incorporated
	 	 	40,000,000.00	 
	RBS Securities Inc.
	 	 	40,000,000.00	 
	J.P. Morgan Securities LLC
	 	 	30,000,000.00	 
	Citigroup Global Markets Inc.
	 	 	30,000,000.00	 
	Total
	 	$	400,000,000.00	 

 

 

SCHEDULE B-1

Guarantors

Celanese Americas LLC

Celanese Acetate LLC

Celanese Chemicals, Inc.

Celanese Fibers Operations LLC

CNA Holdings LLC

Celanese International Corporation

Celtran, Inc.

CNA Funding LLC

KEP Americas Engineering Plastics, LLC

Ticona Fortron Inc.

Ticona Polymers, Inc.

Ticona LLC

Celanese Global Relocation LLC

Celanese Ltd.

 

 

SCHEDULE B-2

Additional Subsidiaries

None.

 

 

SCHEDULE C

Issuer Free Writing Prospectuses

Free Writing Prospectus (to the Preliminary Prospectus Supplement dated May 2, 2011)

 

 

     EXHIBIT A

     Opinion
of Gibson, Dunn & Crutcher LLP to be delivered pursuant to Section 5 of the
Underwriting Agreement.

[Provided under separate cover]

Exhibit A-1

 

EXHIBIT B

     Opinion of James R. Peacock III, Vice President, Deputy General Counsel and Assistant
Corporate Secretary of the Parent Guarantor delivered pursuant to Section 5 of the Underwriting
Agreement.

     (i) Neither the Company nor any of the Guarantors is in violation of its Organizational
Documents.

     (ii) All of the issued and outstanding capital stock of the Company and each Guarantor has
been duly authorized and validly issued, is fully paid and non-assessable and is owned by the
Parent Guarantor, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance (other than security interests, liens and pledges under the
Company’s multi-bank Credit Agreement) or, to the best knowledge of such counsel, any pending or
threatened claim.

Exhibit B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]