Document:

exv4w5

Exhibit 4.5

 

EVERGREEN SOLAR, INC.

as Issuer

AND

U.S. BANK NATIONAL ASSOCIATION

as Trustee

 

INDENTURE

Dated as of [•], 2011

 

7.5% Convertible Senior Notes due 2017

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Definitions

	 	 	1	 
	Section 1.02 Trust Indenture Act Provisions

	 	 	11	 
	Section 1.03 Compliance Certificates and Opinions

	 	 	11	 
	Section 1.04 Acts of Holders; Record Dates

	 	 	12	 
	Section 1.05 Notices, Etc., to Trustee and Company.

	 	 	13	 
	Section 1.06 Notice to Holders; Waiver

	 	 	13	 
	Section 1.07 Benefits of Indenture

	 	 	13	 
	 
	 	 	 	 
	ARTICLE 2 SECURITY FORMS

	 	 	14	 
	 
	 	 	 	 
	Section 2.01 Forms Generally

	 	 	14	 
	Section 2.02 Form of Face of Security

	 	 	14	 
	Section 2.03 Form of Reverse of Security

	 	 	18	 
	Section 2.04 Form of Trustee’s Certificate of Authentication

	 	 	28	 
	Section 2.05 Legend on Restricted Securities

	 	 	28	 
	 
	 	 	 	 
	ARTICLE 3 THE SECURITIES

	 	 	28	 
	 
	 	 	 	 
	Section 3.01 Title and Terms; Payments

	 	 	28	 
	Section 3.02 Ranking

	 	 	29	 
	Section 3.03 Denominations

	 	 	29	 
	Section 3.04 Execution, Authentication, Delivery and Dating

	 	 	29	 
	Section 3.05 Temporary Securities

	 	 	30	 
	Section 3.06 Registration; Registration of Transfer and Exchange

	 	 	30	 
	Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities

	 	 	32	 
	Section 3.08 Persons Deemed Owners

	 	 	32	 
	Section 3.09 Book-Entry Provisions for Global Securities

	 	 	32	 
	Section 3.10 Cancellation and Transfer Provisions

	 	 	34	 
	Section 3.11 CUSIP Numbers

	 	 	36	 
	Section 3.12 Additional Securities

	 	 	36	 
	 
	 	 	 	 
	ARTICLE 4 PARTICULAR COVENANTS

	 	 	37	 
	 
	 	 	 	 
	Section 4.01 Payment of Principal and Interest

	 	 	37	 
	Section 4.02 Maintenance of Office or Agency

	 	 	37	 
	Section 4.03 Appointments to Fill Vacancies in Trustee’s Office

	 	 	37	 
	Section 4.04 Provisions as to Paying Agent

	 	 	37	 
	Section 4.05 Existence

	 	 	39	 
	Section 4.06 Maintenance of Properties

	 	 	39	 
	Section 4.07 Payment of Taxes and Other Claims

	 	 	39	 
	Section 4.08 Rule 144A Information Requirement

	 	 	39	 
	Section 4.09 Resale of Certain Securities

	 	 	40	 
	Section 4.10 Commission Filings and Reports

	 	 	40	 
	Section 4.11 Book-Entry System

	 	 	40	 

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	 	 	Page
	Section 4.12 Additional Interest

	 	 	40	 
	Section 4.13 Stay; Extension and Usury Laws

	 	 	40	 
	Section 4.14 Compliance Certificate

	 	 	41	 
	Section 4.15 Limitations on Liens with Respect to Equity, Equity Linked Securities
and Related Indebtedness

	 	 	41	 
	Section 4.16 Payments for Consent

	 	 	42	 
	 
	 	 	 	 
	ARTICLE 5 PURCHASE AT OPTION OF HOLDERS UPON A FUNDAMENTAL CHANGE

	 	 	42	 
	 
	 	 	 	 
	Section 5.01 Purchase at Option of Holders upon a Fundamental Change

	 	 	42	 
	Section 5.02 Fundamental Change Notice

	 	 	44	 
	Section 5.03 Effect of Fundamental Change Purchase Notice; Withdrawal

	 	 	45	 
	Section 5.04 Deposit of Fundamental Change Purchase Price

	 	 	46	 
	Section 5.05 Securities Purchased in Whole or in Part

	 	 	46	 
	Section 5.06 Repayment to the Company

	 	 	46	 
	 
	 	 	 	 
	ARTICLE 6 CONVERSION

	 	 	47	 
	 
	 	 	 	 
	Section 6.01 Right to Convert

	 	 	47	 
	Section 6.02 Conversion Procedure

	 	 	47	 
	Section 6.03 Settlement upon Conversion

	 	 	48	 
	Section 6.04 Adjustment of Conversion Rate

	 	 	50	 
	Section 6.05 Effect of Reclassification, Consolidation, Merger or Sale

	 	 	58	 
	Section 6.06 Adjustments of Prices

	 	 	59	 
	Section 6.07 Coupon Make Whole Payment in Connection with a Voluntary Conversion
	 	 	59	 
	Section 6.08 Taxes on Shares Issued

	 	 	60	 
	Section 6.09 Conversion at the Option of the Company

	 	 	61	 
	Section 6.10 Coupon Make Whole Payment in Connection with Conversion at the Option
of the Company

	 	 	62	 
	Section 6.11 Reservation of Shares; Shares to be Fully Paid; Compliance with
Governmental Requirements

	 	 	63	 
	Section 6.12 Responsibility of Trustee

	 	 	65	 
	Section 6.13 Notice to Holders Prior to Certain Actions

	 	 	65	 
	Section 6.14 Stockholder Rights Plan

	 	 	66	 
	Section 6.15 Company Determination Final

	 	 	66	 
	Section 6.16 Limitations on Conversion

	 	 	66	 
	 
	 	 	 	 
	ARTICLE 7 REDEMPTION

	 	 	67	 
	 
	 	 	 	 
	Section 7.01 Optional Redemption

	 	 	67	 
	Section 7.02 Selection of Securities to be Redeemed

	 	 	67	 
	Section 7.03 Delivery of Redemption Notice

	 	 	68	 
	Section 7.04 Redemption Notice

	 	 	68	 
	Section 7.05 Effect of Redemption Notice

	 	 	69	 
	Section 7.06 Deposit of Redemption Price

	 	 	69	 
	Section 7.07 Securities Redeemed in Whole or in Part

	 	 	69	 

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	 	 	Page
	ARTICLE 8 EVENTS OF DEFAULT; REMEDIES

	 	 	70	 
	 
	 	 	 	 
	Section 8.01 Events of Default

	 	 	70	 
	Section 8.02 Acceleration of Maturity; Waiver of Past Defaults and Rescission

	 	 	71	 
	Section 8.03 Additional Interest

	 	 	72	 
	Section 8.04 Collection of Indebtedness and Suits for Enforcement by Trustee

	 	 	73	 
	Section 8.05 Trustee May File Proofs of Claim

	 	 	73	 
	Section 8.06 Application of Money Collected

	 	 	74	 
	Section 8.07 Limitation on Suits

	 	 	74	 
	Section 8.08 Unconditional Right of Holders to Receive Payment

	 	 	75	 
	Section 8.09 Restoration of Rights and Remedies

	 	 	75	 
	Section 8.10 Rights and Remedies Cumulative

	 	 	75	 
	Section 8.11 Delay or Omission Not Waiver

	 	 	75	 
	Section 8.12 Control by Holders

	 	 	75	 
	Section 8.13 Undertaking for Costs

	 	 	76	 
	Section 8.14 Waiver of Stay or Extension Laws

	 	 	76	 
	 
	 	 	 	 
	ARTICLE 9 MERGER, CONSOLIDATION OR SALE OF ASSETS

	 	 	76	 
	 
	 	 	 	 
	Section 9.01 Company May Consolidate, Etc., Only on Certain Terms

	 	 	76	 
	Section 9.02 Successor Substituted for Company

	 	 	77	 
	 
	 	 	 	 
	ARTICLE 10 THE TRUSTEE

	 	 	77	 
	 
	 	 	 	 
	Section 10.01 Duties and Responsibilities of Trustee

	 	 	77	 
	Section 10.02 Notice of Defaults

	 	 	78	 
	Section 10.03 Reliance on Documents, Opinions, Etc.

	 	 	78	 
	Section 10.04 No Responsibility for Recitals, Etc.

	 	 	80	 
	Section 10.05 Trustee, Paying Agents, Conversion Agents or Registrar May Own
Securities

	 	 	80	 
	Section 10.06 Monies to be Held in Trust

	 	 	80	 
	Section 10.07 Compensation and Expenses of Trustee

	 	 	80	 
	Section 10.08 Officers’ Certificate as Evidence

	 	 	81	 
	Section 10.09 Conflicting Interests of Trustee

	 	 	81	 
	Section 10.10 Eligibility of Trustee

	 	 	81	 
	Section 10.11 Resignation or Removal of Trustee

	 	 
	81
	

	
Section 10.12 Acceptance by Successor Trustee

	 	 
	
82	

	Section 10.13 Succession by Merger, Etc.

	 	 	83	 
	Section 10.14 Preferential Collection of Claims

	 	 	83	 
	Section 10.15 Trustee’s Application for Instructions from the Company

	 	 	84	 
	 
	 	 	 	 
	ARTICLE 11 HOLDERS’ LISTS AND REPORTS BY TRUSTEE

	 	 	84	 
	 
	 	 	 	 
	Section 11.01 Company to Furnish Trustee Names and Addresses of Holders

	 	 	84	 
	Section 11.02 Preservation of Information; Communications to Holders

	 	 	84	 
	Section 11.03 Reports By Trustee

	 	 	85	 
	Section 11.04 Reports by Company

	 	 	85	 
	 
	 	 	 	 
	ARTICLE 12 SATISFACTION AND DISCHARGE

	 	 	85	 
	 
	 	 	 	 
	Section 12.01 Discharge of Indenture

	 	 	85	 
	Section 12.02 Deposited Monies to be Held in Trust by Trustee

	 	 	86	 

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	 	 	Page
	Section 12.03 Paying Agent to Repay Monies Held

	 	 	86	 
	Section 12.04 Return of Unclaimed Monies

	 	 	86	 
	Section 12.05 Reinstatement

	 	 	86	 
	 
	 	 	 	 
	ARTICLE 13 MODIFICATION AND AMENDMENT

	 	 	87	 
	 
	 	 	 	 
	Section 13.01 Without Consent of Holders

	 	 	87	 
	Section 13.02 With Consent of Holders

	 	 	88	 
	Section 13.03 Execution of Supplemental Indentures

	 	 	88	 
	Section 13.04 Effect of Supplemental Indentures

	 	 	89	 
	Section 13.05 Conformity with Trust Indenture Act

	 	 	89	 
	Section 13.06 Reference in Securities to Supplemental Indentures

	 	 	89	 
	Section 13.07 Notice to Holders of Supplemental Indentures

	 	 	89	 
	 
	 	 	 	 
	ARTICLE 14 MISCELLANEOUS

	 	 	89	 
	 
	 	 	 	 
	Section 14.01 Trust Indenture Act Controls

	 	 	89	 
	Section 14.02 Notices

	 	 	89	 
	Section 14.03 Communication by Holders with other Holders

	 	 	90	 
	Section 14.04 Certificate and Opinion as to Conditions Precedent

	 	 	90	 
	Section 14.05 When Securities Are Disregarded

	 	 	91	 
	Section 14.06 Rules by Trustee, Paying Agent and Registrar

	 	 	91	 
	Section 14.07 Legal Holidays

	 	 	91	 
	Section 14.08 Governing Law

	 	 	91	 
	Section 14.09 No Recourse against Others

	 	 	91	 
	Section 14.10 Successors

	 	 	91	 
	Section 14.11 Multiple Originals

	 	 	91	 
	Section 14.12 Table of Contents; Headings

	 	 	92	 
	Section 14.13 Severability Clause

	 	 	92	 
	Section 14.14 Calculations

	 	 	92	 
	Section 14.15 Waiver of Jury Trial

	 	 	92	 
	Section 14.16 Consent to Jurisdiction

	 	 	92	 
	Section 14.17 Force Majeure

	 	 	93	 

EXHIBIT A – FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE

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CROSS-REFERENCE TABLE*

	 	 	 	 	 	 
	TRUST INDENTURE ACT	 	 	INDENTURE
	SECTION	 	 	SECTION
	Section
	 	310(a)(1)	 	 	10.10
	 
	 	(a)(2)	 	 	10.10
	 
	 	(a)(3)	 	 	N.A.**
	 
	 	(a)(4)	 	 	N.A.
	 
	 	(a)(5)	 	 	10.10
	 
	 	(b)	 	 	10.09
	Section
	 	311(a)	 	 	10.14
	 
	 	(b)	 	 	10.14
	Section
	 	312(a)	 	 	11.01; 11.02(a)
	 
	 	(b)	 	 	11.02(b)
	 
	 	(c)	 	 	11.02(c)
	Section
	 	313(a)	 	 	11.03
	 
	 	(b)(1)	 	 	N.A.
	 
	 	(b)(2)	 	 	11.03
	 
	 	(c)	 	 	1.06; 10.02; 11.03; 14.02
	 
	 	(d)	 	 	11.03
	Section
	 	314(a)	 	 	1.06; 4.10; 4.14; 11.04; 14.02
	 
	 	(b)	 	 	N.A.
	 
	 	(c)(1)	 	 	14.04(a)
	 
	 	(c)(2)	 	 	14.04(b)
	 
	 	(c)(3)	 	 	N.A.
	 
	 	(d)	 	 	N.A.
	 
	 	(e)	 	 	1.03
	 
	 	(f)	 	 	N.A.
	Section
	 	315(a)	 	 	10.01(b); 10.03(a)
	 
	 	(b)	 	 	1.06; 10.02; 11.03; 14.02
	 
	 	(c)	 	 	10.01(a)
	 
	 	(d)	 	 	10.01(b)
	 
	 	(e)	 	 	8.13
	Section
	 	316(a)(last sentence)	 	 	14.05
	 
	 	(a)(1)(A)	 	 	8.12
	 
	 	(a)(1)(B)	 	 	8.02(b)
	 
	 	(a)(2)	 	 	N.A.

 

			
	*	 	This Cross-Reference Table shall not, for any purpose, be deemed a part of this Indenture.
	 
	**	 	N.A. means Not Applicable.

 

 

	 	 	 	 	 	 
	TRUST INDENTURE ACT	 	 	INDENTURE
	SECTION	 	 	SECTION
	 
	 	(b)	 	 	8.08
	 
	 	(c)	 	 	1.04(c)
	Section
	 	317(a)(1)	 	 	8.04
	 
	 	(a)(2)	 	 	8.05
	 
	 	(b)	 	 	4.04; 10.06

-ii-

 

     INDENTURE, dated as of [•], 2011, by and between Evergreen Solar, Inc., a Delaware
corporation, as Issuer (the “Company”), and U.S. Bank National Association, a national banking
association, as trustee (the “Trustee”).

RECITALS OF THE COMPANY

     WHEREAS, the Company has duly authorized the creation of an issue of 7.5% Convertible Senior
Notes due 2017 in an initial aggregate principal amount of $165,000,000 (herein called the “Initial
Securities” and together with any Additional Securities, the “Securities”) of the tenor and amount
hereinafter set forth, and to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the execution and delivery of
this Indenture; and

     WHEREAS, all acts and things necessary to make the Securities, when executed by the Company
and authenticated and delivered hereunder and duly issued by the Company, the valid and legally
binding obligations of the Company, and to make this Indenture a valid and legally binding
agreement of the Company, in accordance with the terms of the Securities and the Indenture, have
been done and performed, and the issue hereunder of the Securities has in all respects been duly
authorized.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH, for and in consideration of the premises and the
purchase of the Securities by the Holders thereof, it is mutually agreed, for the benefit of the
Company and the equal and proportionate benefit of all Holders of the Securities, as follows:

ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

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

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

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

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

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

     “2013 Notes” means the Company’s 4% Senior Convertible Notes due 2013.

     “2015 Notes” means the Company’s 13% Convertible Senior Secured Notes due 2015.

 

 

     “2020 Notes” means the Company’s 4% Convertible Subordinated Additional Cash Notes due 2020.

     “Act” when used with respect to any Holder, has the meaning specified in Section 1.04(a).

     “Additional Interest” means all amounts, if any, payable pursuant to Section 8.03 hereof.

     “Additional Securities” means an unlimited maximum aggregate principal amount of Securities
(other than the Initial Securities) issued under this Indenture.

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

     “Agent Members” has the meaning specified in Section 3.09(a).

     “Applicable Conversion Price” means the Conversion Price in effect at any given time.

     “Applicable Conversion Rate” means the Conversion Rate in effect at any given time.

     “Board of Directors” means, with respect to any Person, either the board of directors of such
Person or any duly authorized committee of that board; provided that, with respect to clause (2) of
the definition of Change in Control, “Board of Directors” means the board of directors of the
Company.

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

     “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks
in The City of New York are authorized or required by law to close or be closed.

     “Capital Stock” means, with respect to any Person, any and all shares of stock of a
corporation, partnership interests or other equivalent interests (however designated, whether
voting or non-voting) in such Person’s equity, entitling the holder to receive a share of the
profits and losses, and a distribution of assets, after liabilities, of such Person.

     “cash” means such coin or currency of the United States as at any time of payment is legal
tender for the payment of public and private debts.

     “Change in Control” means the occurrence of any of the following events at any time after the
Securities are originally issued:

-2-

 

     (1) the consummation of any transaction the result of which is that any “person” or “group” of
related “persons” is or becomes the “beneficial owner” of more than 50% of the voting power of the
Company’s Capital Stock entitled to vote generally in the election of the Company’s Board of
Directors (or comparable body), other than solely by virtue of ownership of the Securities, the
2013 Notes, the 2015 Notes and the 2020 Notes; or

     (2) the first day on which a majority of the members of the Company’s Board of Directors (or
comparable body) are not Continuing Directors (or comparable persons if the Company is not a
corporation on the date of determination); or

     (3) the consolidation or merger of the Company with or into any other Person, or the sale,
lease, transfer, conveyance or other disposition, in one or a series of related transactions, of
all or substantially all of the Company’s assets and those of the Company’s Subsidiaries taken as a
whole to any “person,” other than:

          (a) in any transaction:

               (i) that does not result in any reclassification, conversion, exchange or cancellation of
outstanding shares of the Company’s Capital Stock; and

               (ii) pursuant to which the holders of 50% or more of the total voting power of all outstanding
shares of the Company’s Capital Stock entitled to vote generally in the election of directors (or
comparable body) immediately prior to such transaction have the right to exercise, directly or
indirectly, 50% or more of the total voting power of all outstanding shares of the Capital Stock
entitled to vote generally in the election of directors (or comparable body) of the continuing,
surviving or transferee Person (or any parent thereof) immediately after giving effect to such
transaction; or

          (b) any consolidation, merger or sale, lease, conveyance or other disposition to any Person
the primary purpose of which is to effect the Company’s redomiciling; or

     (4) the Company’s stockholders approve a plan relating to the liquidation or dissolution of
the Company.

     For purposes of this definition, (i) “beneficial owner” is used as defined in Rules 13d-3 and
13d-5 under the Exchange Act, (ii) “group” has the meaning it has in Sections 13(d) and 14(d) of
the Exchange Act and (iii) ”person” is used with the same meaning as that used within Rule 13d-3
under the Exchange Act.

     However, in the case of a consolidation or merger, a Change in Control will be deemed not to
have occurred if at least 90% of the consideration for the Common Stock in the transaction or
transactions (other than cash payments for fractional shares of Common Stock and cash payments made
in respect of dissenters’ appraisal rights) which otherwise would constitute a Change of Control
under clause (3) of this definition of Change in Control consists of common stock or certificates
representing common equity interests traded or to be traded immediately following such transaction
on a U.S. national securities exchange, and, as a result of the transaction or transactions, the
Securities become convertible solely into such common stock or certificates representing

-3-

 

common
equity interests (and any rights attached thereto) and other applicable consideration pursuant to
Section 6.05.

     “Close of Business” means 5:00 p.m., New York City time.

     “Code” means the Internal Revenue Code of 1986, as amended.

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

     “Common Stock” means the common stock, $0.01 par value, of the Company as it exists on the
date of this Indenture or any other shares of Capital Stock of the Company into which the Common
Stock shall be reclassified or changed or, in the event of a merger, consolidation or other similar
transaction involving the Company that is otherwise permitted hereunder in which the Company is not
the surviving corporation, the common stock, common equity interests or depositary shares or other
certificates representing common equity interests of such surviving corporation or its direct or
indirect parent corporation.

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

     “Company Conversion Notice” has the meaning specified in Section 6.09(b).

     “Company Order” means a written order signed in the name of the Company (a) by its chairman of
the Board of Directors, its vice chairman of the Board of Directors, its chief executive officer,
its president, or any of its vice presidents, and (b) by its principal financial officer, its
treasurer, any assistant treasurer, its secretary, or any assistant secretary, and delivered to the
Trustee.

     “Company Website” means, as of any date of determination, the principal website maintained by
the Company on the Internet, which is located at http://www.evergreensolar.com as of the date
hereof.

     “Continuing Director” means, as of any date of determination, any member of the Company’s
Board of Directors (or comparable body) who:

     (1) was a member of the Company’s Board of Directors on the date of this Indenture; or

     (2) was nominated for election or elected to the Company’s Board of Directors (or comparable
body) with the approval of a majority of the Continuing Directors (or comparable persons if the
Company is not a corporation on the date of determination) who were members of the Company’s Board
of Directors (or comparable body) at the time of the nomination or election of such new director
(or comparable person if the Company is not a corporation on the date of determination).

-4-

 

     “Conversion Agent” means the Trustee or such other office or agency designated by the Company
where Securities may be presented for conversion.

     “Conversion Date” has the meaning specified in Section 6.02(b).

     “Conversion Notice” has the meaning specified in Section 6.02(b)(i).

     “Conversion Price” means, per share of Common Stock, $1,000 divided by the Applicable
Conversion Rate, rounded to the nearest cent, subject to adjustment as set forth herein.

     “Conversion Rate” means initially [•]1 shares of Common Stock per $1,000 principal
amount of Securities, subject to adjustment as set forth herein.

     “Corporate Trust Office” means the office of the Trustee at which the corporate trust business
of the Trustee shall, at any particular time, be principally administered, which office is, at the
date as of this Indenture, located at 633 West 5th Street, 24th Floor, Los Angeles, California
90071, Attention: Corporate Trust Services (Evergreen Solar, Inc., 7.5% Convertible Senior Notes
due 2017).

     “Coupon Make Whole Payment” has the meaning specified in Section 6.07(a).

     “Custodian” means U.S. Bank National Association, as custodian with respect to the Securities
in global form, or any successor entity.

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

     “Depositary” means DTC until a successor depositary shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter “Depositary” shall mean such successor
Depositary.

     “DTC” means The Depository Trust Company.

     “Equity” means (1) if the Company is at that time a corporation, any and all shares,
interests, rights to purchase, warrants, options, participations or other equivalents of or
interests in (however designated, whether voting or non-voting) equity of the Company, including
Common Stock or Preferred Stock, and (2) if the Company is at that time not a corporation, any and
all partnership, limited liability company, membership or other equity interests (however
designated, whether voting or non-voting) of the Company.

     “Equity Linked Securities” means any instrument (1) convertible into or exchangeable for
Equity of the Company, or contingently convertible into or exchangeable for Equity of the Company,
or (2) the value of which is or settlement obligations with respect to which are indexed to,

 

			
	1	 	NTD: Initial Conversion Rate to be determined as
specified in the Description of New 7.5% Notes.

-5-

 

or
determined by or by reference to, in whole or in part, the value of the Equity of the Company, a
basket of Equity related to or correlated with the Equity of the Company or an equity index related
or correlated with the Equity of the Company.

     “Event of Default” has the meaning specified in Section 8.01.

     “Ex-Dividend Date” means, for the purposes of Section 6.04, the first date on which the Common
Stock trades on the applicable exchange or in the applicable market, regular way, without the right
to receive the relevant distribution, dividend or issuance.

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

     “Expiration Date” has the meaning specified in Section 6.04(f).

     “Expiration Time” has the meaning specified in Section 6.04(f).

     “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated
willing seller in a transaction not involving distress or necessity of either party determined in
good faith by the Board of Directors of the Company (unless otherwise provided in this Indenture),
provided that with respect to any such price less than $5,000,000, only the good faith
determination of the Company’s chief executive officer or chief financial officer will be required.

     “Fundamental Change” means a Change in Control or a Termination of Trading.

     “Fundamental Change Notice” has the meaning specified in Section 5.01(b).

     “Fundamental Change Purchase Date” has the meaning specified in Section 5.01(a).

     “Fundamental Change Purchase Notice” has the meaning specified in Section 5.01(c)(i).

     “Fundamental Change Purchase Price” has the meaning specified in Section 5.01(a).

     “Fundamental Change Purchase Right” has the meaning specified in Section 5.01(a).

     “GAAP” means generally accepted accounting principles in the United States of America, which
are in effect from time to time. Except as otherwise specifically provided for herein, all
calculations made for purposes of determining compliance with the terms of the provisions of the
Indenture shall utilize GAAP as in effect on the date of such determination.

     “Global Security” means a Security in global form registered in the Security Register in the
name of a Depositary or a nominee thereof.

     “Holder” means a Person in whose name a Security is registered in the Security Register.

     “Indebtedness” means any indebtedness, obligation or liability, whether or not contingent,
evidenced by or created, issued or incurred pursuant to bonds, notes, debentures, indentures or
other instruments and any guarantee thereof.

-6-

 

     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, including, for all purposes of this instrument and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively.

     “Initial Securities” has the meaning specified in the first paragraph of the Recitals of the
Company.

     “Interest Payment Date” means each April 15 and October 15 of each year, beginning April 15,
2011.

     “Issue Date” means the date on which the Securities are originally issued under this
Indenture.

     “Last Reported Sale Price” of the Common Stock on any Trading Day means the closing sale price
per share (or if no closing sale price is reported, the average of the bid and ask prices or, if
more than one, the average of the average bid and the average ask prices) on that day as reported
on The Nasdaq Stock Market or other principal U.S. securities exchange on which shares of Common
Stock are traded. If the Common Stock is not listed for trading on a United States national or
regional securities exchange on the relevant date, the “Last Reported Sale Price” of the Common
Stock will be the last quoted bid price per share of Common Stock in the over-the-counter market on
the relevant date as reported by the Pink OTC Markets Inc. or similar organization selected by the
Company. If shares of Common Stock are not so quoted, the “Last Reported Sale Price” of the Common
Stock will be as determined by a U.S. nationally recognized securities dealer retained by the
Company for that purpose (which may be an underwriter of or dealer manager with respect to
securities of the Company, or one of such underwriter’s or dealer manager’s Affiliates). The “Last
Reported Sale Price” of the Common Stock will be determined without reference to extended or after
hours trading.

     “Lien” means any lien, mortgage, pledge, assignment for security, security interest or charge
of any kind (including any conditional sale or other title retention agreement and any lease in the
nature thereof) and any option, trust or other preferential arrangement having the practical effect
of any of the foregoing.

     “Mandatory Conversion” has the meaning specified in Section 6.09(a).

     “Mandatory Conversion Date” has the meaning specified in Section 6.09(c)(i).

     “Market Disruption Event” means (1) a failure by the primary U.S. exchange or quotation system
on which the Common Stock trades or is quoted to open for trading during its regular trading
session or (2) the occurrence or existence for more than one-half hour period in the aggregate on
any Trading Day for the Common Stock of any suspension or limitation imposed on trading (by reason
of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common
Stock or in any options, contracts or future contracts relating solely to the Common Stock, and
such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on
such day.

-7-

 

     “Maturity Date” means April 15, 2017.

     “Maximum Percentage” has the meaning specified in Section 6.16.

     “Notice of Default” means written notice provided to the Company by the Trustee or to the
Company and the Trustee by the Holders of not less than 25% in aggregate principal amount of
Securities outstanding of a Default by the Company, which notice must specify the Default, demand
that it be remedied and expressly state that such notice is a “Notice of Default.”

     “Officers’ Certificate” means, with respect to the Company, a certificate signed (1) by its
chairman of the Board of Directors, any vice chairman of the Board of Directors, its chief
executive officer, its president, or any vice president, and (2) by its principal financial
officer, its principal accounting officer, its treasurer, any assistant treasurer, its secretary,
or any assistant secretary, and delivered to the Trustee. One of the officers signing an Officers’
Certificate given pursuant to Section 4.14 shall be the principal executive, financial or
accounting officer of the Company.

     “Open of Business” means 9:00 a.m., New York City time.

     “Opinion of Counsel” means a written opinion of counsel, who may be external or in-house
counsel for the Company.

     “Paying Agent” means any Person (including the Company) authorized by the Company to pay the
principal amount of, interest (including Additional Interest, if any) on, or the Fundamental Change
Purchase Price, Redemption Price or cash payments in respect of Coupon Make Whole Payments of, any
Securities on behalf of the Company. U.S. Bank National Association shall initially be the Paying
Agent.

     “Person” means an individual, a corporation, a partnership, a limited liability company, an
association, a trust or any other entity, including a government or political subdivision or an
agency or instrumentality thereof.

     “Physical Securities” means certificated Securities in registered form issued in denominations
of $1,000 principal amount and integral multiples of $1,000 in excess thereof.

     “Preferred Stock” means, with respect to any Person, any and all Capital Stock which is
preferred as to the payment of dividends or distributions, upon liquidation or otherwise, over
another class of Capital Stock of such Person.

     “Prospectus” means that certain Prospectus dated [•] with respect to the exchange offer of the
Securities for the outstanding 2015 Notes.

     “Public Spin-Off” has the meaning specified in Section 6.04(d).

     “Public Spin-Off Valuation Period” has the meaning set forth in Section 6.04(d).

     “Redemption Date” means the date specified for redemption of the Securities in accordance with
the terms of the Securities and Article 7.

-8-

 

     “Redemption Notice” has the meaning specified in Section 7.03.

     “Redemption Price” has the meaning specified in Section 7.01(b).

     “Reference Property” has the meaning specified in Section 6.05.

     “Regular Record Date” means, with respect to the payment of interest on the Securities
(including Additional Interest, if any), the Close of Business on April 1 or October 1, as the case
may be, immediately preceding the relevant Interest Payment Date.

     “Restricted Global Security” means a Global Security representing Restricted Securities.

     “Restricted Security” means a Security that is subject to resale restrictions pursuant to the
Securities Act in the hands of a non-Affiliate of the Company. The Initial Securities do not
constitute Restricted Securities.

     “Rule 144” means Rule 144 under the Securities Act (including any successor rule thereto), as
the same may be amended from time to time.

     “Rule 144A” means Rule 144A under the Securities Act (including any successor rule thereto),
as the same may be amended from time to time.

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

     “Security” has the meaning specified in the first paragraph of the Recitals of the Company,
and includes the Initial Securities and any Additional Securities, as the case may be,
authenticated and delivered under this Indenture, including any Global Securities. The Initial
Securities and Additional Securities shall be treated as a single series for purposes of this
Indenture.

     “Security Register” and “Security Registrar” have the respective meanings specified in
Section 3.06(a).

     “Significant Subsidiary” means any Subsidiary of the Company that would be a “significant
subsidiary” within the meaning specified in Rule 1-02(w) of Regulation S-X promulgated by the
Commission under the Exchange Act as in effect as of the Issue Date.

     “Subsequent Pricing Mechanism” has the meaning specified in Section 6.10(b).

     “Subsidiary” means, with respect to any Person, any corporation, association or other business
entity of which more than 50% of the outstanding Voting Stock is owned, directly or indirectly, by,
or, in the case of a partnership, the sole general partner or the managing partner or the only
general partners of which are, such Person and one or more Subsidiaries of such Person (or a
combination thereof). Unless otherwise specified, “Subsidiary” means a Subsidiary of the Company.

     “Successor Company” has the meaning specified in Section 9.01(a).

-9-

 

     “Termination of Trading” means the termination of trading of the Common Stock (or other common
equity interests (or certificates representing common equity interests) into which the Securities
are then convertible), which will be deemed to have occurred if the Common Stock (or other common
equity interests (or certificates representing common equity interests) into which the Securities
are then convertible) is not listed on a U.S. national securities exchange.

     “Trading Day” means a day during which (1) trading in the Common Stock generally occurs,
(2) there is no Market Disruption Event and (3) a Last Reported Sale Price for the Common Stock
(other than a Last Reported Sale Price referred to in the third sentence of such definition) is
available for such day; provided that if the Common Stock is not admitted for trading or quotation
on or by any exchange, bureau or other organization referred to in the definition of Last Reported
Sale Price (excluding the third sentence of that definition), “Trading Day” will mean any Business
Day.

     “Trailing Pricing Mechanism” has the meaning specified in Section 6.07(b).

     “Transfer Restriction Legend” has the meaning specified in Section 2.05.

     “Trigger Event” has the meaning specified in Section 6.04(d).

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and the rules and
regulations promulgated thereunder.

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

     “Trust Officer” means any officer of the Trustee within the Corporate Trust Office of the
Trustee with direct responsibility for the administration of this Indenture and also, with respect
to a particular matter, any other officer of the Trustee to whom such matter is referred because of
such officer’s knowledge and familiarity with the particular subject.

     “Unrestricted Global Security” means a Global Security that is not a Restricted Security.

     “Unrestricted Security” means a Security that is not a Restricted Security.

     “U.S.” means the United States of America.

     “U.S. Government Obligations” means obligations issued or directly and fully guaranteed or
insured by the United States of America or by any agent or instrumentality thereof, provided that
the full faith and credit of the United States of America is pledged in support thereof.

     “Voting Stock” means, with respect to any Person, Capital Stock of any class or kind
ordinarily having the power to vote for the election of directors, managers or other voting members
of the governing body of such Person.

     “VWAP” means the price per share of Common Stock on any Trading Day as is displayed under the
heading “Bloomberg VWAP” on Bloomberg page “ESLR <equity> AQR” (or its

-10-

 

equivalent successor
service or page if such service or page is not available) in respect of the period from 9:30 a.m.
to 4:00 p.m., New York City time, on such Trading Day. If such price is not available, the VWAP
means the market value of one share of Common Stock on such Trading Day as determined by a
nationally recognized independent investment banking firm (which may be an underwriter of or dealer
manager with respect to securities of the Company, or one of such underwriter’s or dealer manager’s
Affiliates) retained for this purpose by the Company.

     Section 1.02 Trust Indenture Act Provisions. Whenever this Indenture refers to a provision of the Trust
Indenture Act, that provision is incorporated by reference in and made a part of this Indenture.
The Indenture shall also include those provisions of the Trust Indenture Act required to be
included herein by the provisions of the Trust Indenture Reform Act of 1990. The following Trust
Indenture Act terms used in this Indenture have the following meanings:

     “Commission” means the Securities and Exchange Commission.

     “indenture securities” means the Securities;

     “indenture security holder” means a Holder;

     “indenture to be qualified” means this Indenture;

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

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

     All other terms used in this Indenture that are defined in the Trust Indenture Act, defined by
Trust Indenture Act reference to another statute or defined by any Commission rule or regulation
and not otherwise defined herein have the meanings assigned to them therein.

     Section 1.03 Compliance Certificates and Opinions. Upon any application or request by the Company to the
Trustee to take any action under any provision of this Indenture, the Company shall furnish to the
Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such
certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an
officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with
the requirements of the Trust Indenture Act and any other requirement set forth in this Indenture.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:

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

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

-11-

 

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

          (d) a statement as to whether or not, in the opinion of each such individual, such condition
or covenant has been complied with.

     In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officers’
Certificate or certificates of public officials.

     Section 1.04 Acts of Holders; Record Dates.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by their
agents duly appointed in writing and, except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the Trustee and, where
it is hereby expressly required, to the Company. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as an “Act” of the Holders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 10.01) conclusive in favor of the Trustee and the Company, if made in the manner provided
in this Section 1.04.

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

          (c) The Company may, in the circumstances permitted by the Trust Indenture Act, fix any day as
the record date for the purpose of determining the Holders entitled to give or take any request,
demand, authorization, direction, notice, consent, waiver or other action, or to vote on any
action, authorized or permitted to be given or taken by Holders. If not set by the Company prior
to the first solicitation of a Holder made by any Person in respect of any such action, or, in the
case of any such vote, prior to such vote, the record date for any such action or vote shall be the
30th day (or, if later, the date of the most recent list of Holders required to be provided
pursuant to Section 11.01) prior to such first solicitation or vote, as the case may be. With
regard to any record date, only the Holders on such date (or their duly designated proxies) shall
be entitled to give or take, or vote on, the relevant action.

          (d) The ownership of Securities shall be proved by the Security Register.

          (e) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder

-12-

 

of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security.

     Section 1.05 Notices, Etc., to Trustee and Company. Any request, demand, authorization, direction, notice,
consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be
made upon, given or furnished to, or filed with:

               (i) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its applicable
Corporate Trust Office; or

               (ii) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office specified in
Section 14.02, or at any other address previously furnished in writing to the Trustee by the
Company, to the attention of the chief financial officer of the Company.

     Section 1.06 Notice to Holders; Waiver. Where this Indenture provides for notice to Holders of any event,
such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing
and delivered in person, mailed using the U.S. postal system, first-class postage prepaid,
delivered by facsimile, with confirmation of transmission, or delivered by overnight courier, to
each Holder affected by such event, at such Holder’s address as it appears in the Security
Register, not later than the latest date (if any), and not earlier than the earliest date (if any),
prescribed for the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Any such notice
will be deemed to have been given at the time delivered, if delivered in person; on the fifth day
after being mailed using the U.S. postal system; upon confirmation of transmission, if delivered by
facsimile; or the next Business Day, if sent by overnight courier. Where this Indenture provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the equivalent of such
notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be
a condition precedent to the validity of any action taken in reliance upon such waiver.

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the approval of the Trustee or as otherwise provided in this Indenture shall constitute a
sufficient notification for every purpose hereunder.

     Whenever under this Indenture the Trustee is required to provide any notice by mail, in all
cases the Trustee may alternatively provide notice by overnight courier or by facsimile, with
confirmation of transmission.

     Section 1.07 Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their respective successors

-13-

 

hereunder
and the Holders of Securities, any benefit or any legal or equitable right, remedy or claim under
this Indenture.

ARTICLE 2

SECURITY FORMS

     Section 2.01 Forms Generally. The Securities and the Trustee’s certificates of authentication shall be in
substantially the forms set forth in this Article, with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have
such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or Depositary
therefor, the Code and regulations thereunder, or as may, consistently herewith, be determined by
the officers executing such Securities, as evidenced by their execution thereof.

     The Securities shall initially be issued in the form of one or more Global Securities in
registered form in substantially the form set forth in this Article. The aggregate principal
amount of the Global Securities may from time to time be increased or decreased by adjustments made
on the records of the Trustee, as custodian for the Depositary, as hereinafter provided.

     Section 2.02 Form of Face of Security.

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

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (“DTC”), A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS
MUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

     [THIS SECURITY AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE
NOT BEEN REGISTERED UNDER THE

 

			
	2	 	This legend is to be included only if the Security
is a Global Security.

-14-

 

SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
STATE SECURITIES LAWS. NEITHER THIS SECURITY, THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION
OF THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE OFFERED, SOLD,
ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION UNDER THE
SECURITIES ACT. BY ITS ACQUISITION HEREOF, OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER:

     (1) REPRESENTS, IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES
ACT, THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN
THE MEANING OF RULE 144A) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH
SUCH ACCOUNT, AND

     (2) AGREES FOR THE BENEFIT OF EVERGREEN SOLAR, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER,
SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN OR ANY SHARES OF
COMMON STOCK ISSUED UPON CONVERSION OF A SECURITY PRIOR TO DATE THAT IS THE LATER OF (X) ONE YEAR
AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144
UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS
MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

          (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

          (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT,
OR

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

          (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, INCLUDING RULE 144, IF AVAILABLE.

     PRIOR TO ANY OFFER, SALE, PLEDGE OR TRANSFER PURSUANT TO CLAUSE (2)(D) ABOVE, THE COMPANY AND
THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM IN ORDER TO

-15-

 

DETERMINE THAT THE PROPOSED
TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.
NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.]3

 

			
	3	 	This legend is to be included only if the Security
is a Restricted Security.

-16-

 

7.5% Convertible Senior Notes due 2017

			
	NO. [    ]
	 	U.S. $[    ]

CUSIP NO. [    ]

     Evergreen Solar, Inc., a Delaware corporation (herein called the “Company”), which term
includes any successor corporation under the Indenture referred to on the reverse hereof), for
value received hereby promises to pay to [       ], or registered assigns, the principal sum
of [ ] UNITED STATES DOLLARS (U.S. $[ ]) (which amount may from time to time be increased or
decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, in
accordance with the rules and procedures of the Depositary and in accordance with the below
referred Indenture) on April 15, 2017. Payment of the principal of this Security shall be made by
check mailed to the address of the Holder of this Security specified in the register of Securities,
or, at the option of the Company, by wire transfer in immediately available funds, in such lawful
money of the United States of America as at the time of payment shall be legal tender for the
payment of public and private debts.

     The issue date of this Security is [       ].4

     Reference is made to the further provisions of this Security set forth on the reverse hereof,
including, without limitation, provisions giving the Holder the right to convert this Security into
shares of Common Stock of the Company and to the ability and obligation of the Company to purchase
this Security upon certain events, in each case, on the terms and subject to the limitations
referred to on the reverse hereof and as more fully specified in the Indenture. Such further
provisions shall for all purposes have the same effect as though fully set forth at this place.
Capitalized terms used but not defined herein shall have such meanings as are ascribed to such
terms in the Indenture.

     This Security shall be deemed to be a contract made under the laws of the State of New York,
and for all purposes shall be construed in accordance with and governed by the laws of said State.

     This Security shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

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

	 	 	 	 	 
	 	EVERGREEN SOLAR, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	4	 	The Issue Date for the Initial Securities and the
date of issuance for any Additional Securities.

-17-

 

     Section 2.03 Form of Reverse of Security.

EVERGREEN SOLAR, INC.

7.5% Convertible Senior Notes due 2017

     This Security is one of a duly authorized issue of Securities of the Company, designated as
its 7.5% Convertible Senior Notes due 2017 (the “Securities”) issued or to be issued under and
pursuant to the Indenture dated as of [•], 2011 (the “Indenture”), by and between the Company and
U.S. Bank National Association, as trustee (the “Trustee”), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders
of the Securities.

     Interest. The Securities will bear interest at a rate of 7.5% per year. Interest on
the Securities will accrue from and including the issue date, or from the most recent date to which
interest has been paid or duly provided for. Interest will be payable semiannually in arrears on
each Interest Payment Date, beginning April 15, 2011. Pursuant to Section 8.03 of the Indenture,
in certain circumstances, the Holders of Securities shall be entitled to receive Additional
Interest.

     Interest (including Additional Interest, if any) will be paid to the person in whose name a
Security is registered at the Close of Business on the April 1 or October 1, as the case may be,
immediately preceding the relevant Interest Payment Date; provided that on the Maturity Date,
interest will be paid to the Person to whom the principal amount is paid, regardless of whether
such Person is the Holder of record.

     Interest on the Securities will be computed on the basis of a 360-day year composed of twelve
30-day months.

     Interest will cease to accrue on the Securities upon their maturity, conversion, redemption or
repurchase.

     Ranking. The Securities constitute general senior unsecured obligations of the
Company.

     Purchase at the Option of the Holder Upon a Fundamental Change. Subject to the terms
and conditions of the Indenture, the Company shall become obligated, at the option of the Holder,
to purchase the Securities, in whole or in part, if a Fundamental Change occurs at any time prior
to the Maturity Date. The Fundamental Change Purchase Price at which the Securities may be
purchased shall be payable in cash and shall be equal to 100% of the principal amount of the
Securities

-18-

 

purchased plus accrued and unpaid interest (including Additional Interest, if any) to,
but excluding, the Fundamental Change Purchase Date (subject to certain exceptions set forth in the
Indenture).

     Withdrawal of Fundamental Change Purchase Notice. Holders have the right to withdraw,
in whole or in part, any Fundamental Change Purchase Notice, as the case may be, by delivering to
the Paying Agent a written notice of withdrawal in accordance with the provisions of the Indenture.

     Payment of Fundamental Change Purchase Price. If money sufficient to pay the
Fundamental Change Purchase Price of all Securities or portions thereof to be purchased on a
Fundamental Change Purchase Date is deposited with the Paying Agent on the Fundamental Change
Purchase Date, such Securities will cease to be outstanding and interest will cease to accrue on
such Securities (or portions thereof) immediately after such Fundamental Change Purchase Date and
the Holder thereof shall have no other rights as such (other than the right to receive the
Fundamental Change Purchase Price upon surrender of such Security).

     Conversion. Subject to and in compliance with the provisions of the Indenture, the
Holder hereof has the right, at its option, to convert the principal amount hereof or any portion
of such principal which is $1,000 or an integral multiple thereof, into shares of Common Stock at
the Applicable Conversion Rate. The initial Conversion Rate is [•] shares of Common Stock per
$1,000 principal amount of Securities (equivalent to a Conversion Price of approximately
$[•])5, subject to adjustment in certain events described in the Indenture. Upon
conversion, the Company will issue shares of Common Stock as set forth in the Indenture. No
fractional shares will be issued upon any conversion, but an adjustment and payment in cash will be
made, as provided in the Indenture, in respect of any fraction of a share which would otherwise be
issuable upon the surrender of any Securities for conversion. Securities in respect of which a
Holder is exercising its right to require purchase on a Fundamental Change Purchase Date may be
converted only if such Holder withdraws its election to exercise such right in accordance with the
terms of the Indenture.

     In the event of a deposit or withdrawal of an interest in this Security, including an
exchange, transfer, purchase or conversion of this Security in part only, the Trustee, as custodian
of the Depositary, shall make an adjustment on its records to reflect such deposit or withdrawal in
accordance with the rules and procedures of the Depositary.

     Coupon Make Whole Payment in Connection with a Voluntary Conversion. If a Holder
hereof elects to convert some or all of its Securities on or prior to April 15, 2015, such Holder
will receive a Coupon Make Whole Payment for the Securities being converted equal to the aggregate
amount of interest payments that would have been payable on such converted Securities from the last
day through which interest was paid on the Securities, or the issue date if no interest has been
paid, to and including April 15, 2015, paid in shares of Common Stock valued pursuant to the
Trailing Pricing Mechanism, or, at the Company’s option, in cash, subject to 11 Trading Days having
elapsed following notice of any election to pay in cash or, following any such cash election,
notice of any election to pay in shares of Common Stock, as described in and subject to certain
exceptions set forth in the Indenture.

 

			
	4	 	NTD: Initial Conversion Rate and Conversion Price
to be determined as specified in the Description of New 7.5% Notes.

-19-

 

     Conversion at the Option of the Company. At any time on or prior to the Maturity
Date, the Company many elect to convert some or all of the Securities if the Last Reported Sale
Price of the Common Stock is greater than or equal to 150% of the Applicable Conversion Price for
at least 20 Trading Days during any 30 consecutive Trading Day period ending within five Trading
Days prior to the date of the Company Conversion Notice.

     Coupon Make Whole Payment in Connection with Conversion at the Option of the Company.
If the Company elects to convert some or all of the Securities on or prior to April 15, 2015,
Holders will receive a Coupon Make Whole Payment upon such conversion equal to the aggregate amount
of interest payments that would have been payable on such converted Securities from the last day
through which interest was paid on the Securities, or the Issue Date if no interest has been paid,
to and including April 15, 2015, paid in shares of Common Stock valued pursuant to the Subsequent
Pricing Mechanism, or, at the Company’s option, in cash, as described in and subject to certain
exceptions set forth in the Indenture.

     Limitations on Conversion. The Company will not effect any conversion of the
Securities (including any Mandatory Conversion), and Holders of the Securities will not have the
right to convert any portion of the Securities, to the extent that, after giving effect to such
conversion, a Holder (together with such Holder’s Affiliates) would beneficially own in excess of
9.9% of the number of shares of Common Stock outstanding immediately after giving effect to such
conversion.

     Redemption at the Option of the Company. The Securities are redeemable in whole or in
part at any time on or after April 15, 2015, at the option of the Company. The Redemption Price at
which the Securities are redeemable shall be payable in cash and shall be equal to 100% of the
principal amount of Securities being redeemed, together with accrued and unpaid interest (including
Additional Interest, if any), on the principal amount of the Securities redeemed, to but excluding
the Redemption Date (subject to certain exceptions set forth in the Indenture). No sinking fund is
provided for the Securities.

     [Rule 144A Information. If at any time the Company is not subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act, the Company will file all reports, if any,
as would be required by the provisions of Section 314(a) of the Trust Indenture Act with the
Trustee and will furnish to holders, beneficial owners and prospective purchasers of the Securities
or shares issuable upon conversion of the Securities, upon their request, the information required
to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.]6

     Acceleration of Maturity. If an Event of Default shall occur and be continuing, the
principal amount plus interest (including Additional Interest, if any) through such date on all the
Securities may be declared due and payable in the manner and with the effect provided in the
Indenture.

     Modification and Amendment with Consent of Holders; Waiver of Past Defaults. The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the
Securities under the Indenture at any time by the Company and the Trustee with the consent of the

 

			
	6	 	This portion is to be included only if the Security is a Restricted Security.

-20-

 

Holders of not less than a majority in aggregate principal amount of the outstanding Securities.
The Indenture also contains provisions permitting the Holders of a majority in aggregate principal
amount of the outstanding Securities, on behalf of the Holders of all the Securities, to waive
compliance by the Company with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder of any provision of
or applicable to this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Security.

     Limitation on Suits. As provided in and subject to the provisions of the Indenture,
the Holder of this Security shall not have the right to institute any proceeding with respect to
the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given written notice to the Trustee of a continuing Event
of Default with respect to the Securities, the Holders of not less than 25% in aggregate principal
amount of the outstanding Securities shall have made a written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee security and
indemnity reasonably satisfactory to it, the Trustee shall not have received from the Holders of a
majority in aggregate principal amount of outstanding Securities a direction inconsistent with such
request, and the Trustee shall have failed to institute any such proceeding within 60 days after
receipt of such request and offer of security or indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this Security in the case of an Event of Default under Sections
8.01(a) or 8.01(b) of the Indenture.

     Unconditional Rights of Holders to Receive Payment. No reference herein to the
Indenture and no provision of this Security or of the Indenture shall impair or affect adversely
the right of any Holder, which is absolute and unconditional, to receive payment of the principal
amount, Fundamental Change Purchase Price, Redemption Price or Coupon Make Whole Payments in
respect of, and interest (including Additional Interest, if any) on, this Security and to convert
this Security, or to bring suit for the enforcement of such payment.

     Registration of Transfer and Exchange. As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of
the Company in The City of New York, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities,
of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

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

     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and the Security Registrar and any agent of the Company or the Trustee may treat the Person
in whose name this Security is registered as the owner hereof for all purposes, whether or not this

-21-

 

Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary.

     Denominations. The Securities are issuable only in registered form in denominations
of $1,000 and any integral multiple of $1,000 in excess thereof, as provided in the Indenture and
subject to certain limitations therein set forth. Securities are exchangeable for a like aggregate
principal amount of Securities of a different authorized denomination, as requested by the Holder
surrendering the same.

     Governing Law. The Indenture and this Security shall be governed by, and construed in
accordance with, the laws of the State of New York.

     Defined Terms. All terms used in this Security that are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

-22-

 

SCHEDULE OF EXCHANGES OF SECURITIES7

Evergreen Solar, Inc.

7.5% Convertible Senior Notes due 2017

     The following exchanges, purchases or conversions of a part of this Global Security have been
made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal amount of	 	 
	 	 	Amount of decrease	 	Amount of increase	 	this Global	 	Signature of
	 	 	in principal amount	 	in principal amount	 	Security following	 	authorized
	 Date of Decrease or	 	of this Global	 	of this Global	 	such decrease (or	 	signatory of
	Increase	 	Security	 	Security	 	increase)	 	Trustee
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

			
	7	 	This schedule is to be included only if the
Security is a Global Security.

-23-

 

ASSIGNMENT FORM

     If you want to assign this Security, fill in the form below and have your signature
guaranteed:

     I or we assign and transfer this Security to:

     (Print or type name, address and zip code and social security or tax ID number of assignee)

     and irrevocably appoint ___________________________ agent to transfer this Security on the
books of the Company. The agent may substitute another to act for him.

     [In connection with any transfer of this Security occurring prior to the date which is the
earlier of (i) the date of the declaration by the Commission of the effectiveness of a registration
statement under the Securities Act covering resales of this Security (which effectiveness shall not
have been suspended or terminated at the date of the transfer) and (ii) the first anniversary of
the issue date set forth on the face of this Security, the undersigned confirms that it has not
utilized any general solicitation or general advertising in connection with the transfer and that
this Security is being transferred:

     Check One Box

     (1) o to the Company or a subsidiary thereof; or

     (2) o to a “Qualified Institutional Buyer” pursuant to and in compliance with Rule 144A under
the Securities Act;

     (3) o pursuant to the exemption from registration provided by Rule 144 under the Securities Act;
or

     (4) o pursuant to another available exemption from the registration requirements of the
Securities Act.

     Unless one of the above boxes is checked, the Trustee will refuse to register any of the
Securities evidenced by this certificate in the name of any Person other than the registered Holder
thereof, provided that if box (3) or (4) is checked, the Company may require (and shall deliver to
the Trustee and the Security Registrar), prior to registering any such transfer of the Securities,
in its sole discretion, such legal opinions, certifications and other information as the Company
may reasonably

-24-

 

request to confirm that such transfer is being made pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act.

     If none of the foregoing boxes is checked, the Trustee or Security Registrar shall not be
obligated to register this Security in the name of any Person other than the Holder hereof unless
and until the conditions to any such transfer of registration set forth herein and in Section 3.10
of the Indenture shall have been satisfied.] 8

	 	 	 	 	 	 	 	 	 	 	 

	Date:

	 	 	 	 	 	Signed:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

(Sign exactly as your name appears on the other side of this Security)

	 	 	 	 	 

	Signature Guarantee:
	 	 	 	 
	 

	 	 

	 	 

     NOTE: Signatures must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security 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 Security Registrar in addition to, or in substitution for, STAMP, all
in accordance with the Securities Exchange Act of 1934, as amended.

 

			
	8	 	This portion is to be included only if the Security is a Restricted Security.

-25-

 

[TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED

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

	 	 	 	 	 	 	 	 	 	 	 

	Date:

	 	 	 	 	 	Signed:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

     NOTICE: To be executed by an executive officer.] 9

 

			
	9	 	This portion is to be included only if the Security is a Restricted Security.

-26-

 

CONVERSION NOTICE

     If you want to convert this Security into Common Stock of the Company, check the box: o

     To convert only part of this Security, state the principal amount to be converted (which must
be $1,000 or an integral multiple of $1,000):

     $ _______________________

     If you want the share certificate, if any, made out in another person’s name, fill in the form
below:

     (Insert other person’s social security or tax ID no.)

     Notwithstanding anything to the contrary contained herein, this Conversion Notice shall
constitute a representation by the Holder of this Security that, after giving effect to the
conversion provided for in this Conversion Notice, such Holder (together with its Affiliates) will
not have beneficial ownership (together with the beneficial ownership of such Holder’s Affiliates)
of a number of shares of Common Stock which exceeds the Maximum Percentage of the total outstanding
shares of Common Stock as determined pursuant to the provisions of Section 6.16 of the Indenture.

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

	 	 	 	 	 	 	 	 	 	 	 

	Date:

	 	 	 	 	 	Signed:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 

(Sign exactly as your name appears on the other side of this Security)

	 	 	 	 	 

	Signature Guarantee:
	 	 	 	 
	 

	 	 

	 	 

     NOTE: Signatures must be guaranteed by an “eligible guarantor institution” meeting the
requirements of the Security 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 Security Registrar in addition to, or in substitution for, STAMP, all
in accordance with the Securities Exchange Act of 1934, as amended.

-27-

 

     Section 2.04 Form of Trustee’s Certificate of Authentication. This is one of the Securities referred to in
the within-mentioned Indenture.

	 	 	 	 	 
	Dated:            
          
                         	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     Section 2.05 Legend on Restricted Securities. During the period beginning on the issue date and ending on
the later of (1) one year after the issue date or such shorter period of time as permitted by Rule
144 under the Act or any successor provision thereunder and (2) such later date, if any, as may be
required by applicable law, any Restricted Security, including any Security issued in exchange
therefor or in lieu thereof, shall be subject to the restrictions on transfer provided in the
legends set forth on the face of the form of Security in Section 2.02 (the “Transfer Restriction
Legend”); provided, however, that the term “Restricted Security” shall not include any Securities
as to which restrictions have been terminated in accordance with Section 3.06. All Restricted
Securities shall bear the applicable legends set forth on the face of the form of Security in
Section 2.02. Except as provided in Sections 3.06 and 3.10, the Trustee shall not issue any
unlegended Security until it has received an Officers’ Certificate from the Company directing it to
do so.

ARTICLE 3

THE SECURITIES

     Section 3.01 Title and Terms; Payments. The aggregate principal amount of Initial Securities that may be
authenticated and delivered under this Indenture is limited to $165,000,000 and the aggregate
principal amount of Additional Securities is unlimited, except for Securities authenticated and
delivered upon registration or transfer of, or in exchange for, or in lieu of, other Securities
pursuant to Sections 3.05, 3.06, 3.07, 3.10, 5.05 or 7.07. The Initial Securities shall be issued
as Unrestricted Securities without any restriction on transfer under the U.S. federal securities
laws in reliance on an effective registration statement on Form S-4.

     The Securities shall be known and designated as the “7.5% Convertible Senior Notes due 2017”
of the Company. The principal amount shall be payable at the Maturity Date.

     The principal amount of, and interest on, Global Securities registered in the name of the
Depositary or its nominee shall be paid by wire transfer in immediately available funds to the
Depositary or its nominee, as applicable.

-28-

 

     The principal amount of Physical Securities shall be payable in cash at the Corporate Trust
Office and at any other office or agency maintained by the Company for such purpose. Interest on
Physical Securities will be payable (i) to Holders having an aggregate principal amount of
$1,000,000 or less of Securities, by check mailed to such Holders at the address set forth in the
Security Register and (ii) to Holders having an aggregate principal amount of more than $1,000,000
of Securities, either by check mailed to such Holders or, upon application by a Holder to the
Security Registrar not later than the relevant Regular Record Date for such interest payment, by
wire transfer in immediately available funds to such Holder’s account within the United States,
which application shall remain in effect until the Holder notifies the Security Registrar to the
contrary in writing.

     Section 3.02 Ranking. The Securities constitute general senior unsecured obligations of the Company.

     Section 3.03 Denominations. The Securities shall be issuable only in registered form without coupons and
in denominations of $1,000 and any integral multiple of $1,000 in excess thereof.

     Section 3.04 Execution, Authentication, Delivery and Dating. The Securities shall be executed on behalf of
the Company by its chairman of the Board of Directors, any of its vice chairmen of the Board of
Directors, its chief executive officer, its president, any of its vice presidents, its principal
financial officer or its treasurer.

     Securities bearing the manual or facsimile signatures of an individual who was at any time a
proper officer of the Company shall bind the Company, notwithstanding that such individual has
ceased to hold such office prior to the authentication and delivery of such Securities or did not
hold such office at the date of such Securities.

     On the Issue Date, the Company shall issue, and the Trustee shall authenticate and make
available for delivery, the Initial Securities for original issue in the aggregate principal amount
of up to $165,000,000. After the Issue Date, the Company may issue, and the Trustee shall
authenticate and make available for delivery, Additional Securities issued pursuant to Section
3.12. The Trustee shall so authenticate and make available for delivery Securities upon receipt of
a Company Order. The Company Order shall specify the amount of Securities to be authenticated,
shall specify whether such Securities will be represented by a Restricted Global Security or an
Unrestricted Global Security, and shall specify the date on which each original issue of Securities
is to be authenticated; provided that any Initial Securities shall be issued in the form of an
Unrestricted Global Security. The Trustee, in accordance with such Company Order, shall
authenticate and deliver such Securities as provided in this Indenture and not otherwise.

     The Company at any time and from time to time may, without the consent of any Holder, issue
Additional Securities pursuant to Section 3.12, which Additional Securities shall be entitled to
all of the benefits of this Indenture. Such Additional Securities will be deemed Securities for
all purposes hereunder, including, without limitation, in determining the necessary Holders who may
Act or consent to the taking of an Act of the Holders as specified in this Indenture.

     Each Security shall be dated the date of its authentication.

-29-

 

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

     Section 3.05 Temporary Securities. Pending the preparation of definitive Securities, the Company may
execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities
that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their execution of such
Securities; provided, that any such temporary Securities shall bear legends on the face of such
Securities as set forth in Section 2.02.

     If temporary Securities are issued, the Company will cause definitive Securities to be
prepared without unreasonable delay. After the preparation of definitive Securities, the temporary
Securities shall be exchangeable for definitive Securities upon surrender of the temporary
Securities at any office or agency of the Company designated pursuant to Section 4.02, without
charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like
principal amount of Physical Securities of authorized denominations. Until so exchanged, the
temporary Securities shall in all respects be entitled to the same benefits under this Indenture as
Physical Securities.

     Section 3.06 Registration; Registration of Transfer and Exchange.

          (a) The Company shall cause to be kept at the applicable Corporate Trust Office of the Trustee
a register (the register maintained in such office and in any other office or agency designated
pursuant to Section 4.02 being herein sometimes collectively referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of Securities and of transfers of Securities. The Trustee is hereby
appointed “Security Registrar” (the “Security Registrar”) for the purpose of registering Securities
and transfers of Securities as herein provided. The Company may act as Security Registrar and at
any time appoint a new Security Registrar without prior notice to Holders.

     Upon surrender for registration of transfer of any Security at an office or agency of the
Company designated pursuant to Section 4.02 for such purpose, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees,
one or more new Securities of any authorized denominations and of a like aggregate principal amount
and tenor, each such Security bearing such restrictive legends as may be required by this Indenture
(including Sections 2.02, 2.05 and 3.10).

     At the option of the Holder and subject to the other provisions of this Section 3.06 and to
Section 3.10, Securities may be exchanged for other Securities of any authorized denominations and
of a like aggregate principal amount and tenor, upon surrender of the Securities to be exchanged at
such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall

-30-

 

execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the
exchange is entitled to receive.

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

     Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly
executed, by the Holder thereof or his attorney duly authorized in writing. As a condition to the
registration of transfer of any Restricted Securities, the Company or the Trustee may require
evidence satisfactory to them as to the compliance with the restrictions set forth in the legend on
such Securities.

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company and the Security Registrar may require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 3.05 not involving any transfer.

     Neither the Company nor the Security Registrar shall be required to exchange or register a
transfer of any Security (i) that has been surrendered for conversion or selected for redemption or
(ii) as to which a Fundamental Change Purchase Notice has been delivered and not withdrawn, except
that where only a portion of the foregoing is being converted or redeemed or where such Fundamental
Change Purchase Notice provides that such Security is to be purchased only in part, the Company and
the Security Registrar shall be required to exchange or register a transfer of the portion thereof
not to be converted, redeemed or purchased.

          (b) Beneficial ownership of every Restricted Security shall be subject to the restrictions on
transfer provided in the legends required to be set forth on the face of each Restricted Security
pursuant to Sections 2.02 and 2.05, unless such restrictions on transfer shall be terminated in
accordance with this Section 3.06(b) or Section 3.10. The Holder of each Restricted Security, by
such Holder’s acceptance thereof, agrees to be bound by such restrictions on transfer.

     The restrictions imposed by this Section 3.06 and by Sections 2.02, 2.05 and 3.10 upon the
transferability of any particular Restricted Security shall cease and terminate upon delivery by
the Company to the Trustee of an Officers’ Certificate stating that such Restricted Security has
been transferred in compliance with Rule 144. Any Restricted Security as to which the Company has
delivered to the Trustee an Officers’ Certificate stating that such restrictions on transfer shall
have expired in accordance with their terms or shall have terminated may, upon surrender of such
Restricted Security for exchange to the Security Registrar in accordance with the provisions of
this Section 3.06, be exchanged for a new Security, of like tenor and aggregate principal amount,
which shall not bear the restrictive legends required by Sections 2.02 and 2.05.

     As used in Sections 3.06(a) and 3.06(b), the term “transfer” encompasses any sale, pledge,
transfer or other disposition of any Restricted Security.

          (c) Neither the Trustee, the Security Registrar nor any of their respective agents shall (i)
have any duty to monitor compliance with or with respect to any federal or state or other

-31-

 

securities or tax laws or (ii) have any duty to obtain documentation relating to any transfers or
exchanges other than as specifically required hereunder.

     Section 3.07 Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to
the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of like tenor and principal amount and bearing a number not
contemporaneously outstanding.

     If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any
such destroyed, lost or stolen Security, a new Security of like tenor and principal amount and
bearing a number not contemporaneously outstanding.

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

     Upon the issuance of any new Security under this Section 3.07, the Company may require payment
by the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith.

     Every new Security issued pursuant to this Section 3.07 in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation of the Company,
whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone,
and shall be entitled to all the benefits of this Indenture equally and proportionately with any
and all other Securities duly issued hereunder.

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

     Section 3.08 Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee, the Security Registrar and any agent of the Company, the Trustee or the
Security Registrar may treat the Person in whose name such Security is registered as the owner of
such Security for the purpose of receiving payment of the principal of such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the
Trustee, the Security Registrar nor any agent of the Company, the Trustee or the Security Registrar
shall be affected by notice to the contrary.

     Section 3.09 Book-Entry Provisions for Global Securities.

          (a) The Global Securities initially shall (i) be registered in the name of the Depositary or
the nominee of such Depositary, (ii) be delivered to the Trustee as custodian for the Depositary
and (iii) bear legends as set forth on the face of the form of Security in Section 2.02.

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     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
this Indenture with respect to any Global Security held on their behalf by the Depositary, or the
Trustee as its custodian, or under the Global Security, and the Depositary may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the
Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depositary or impair, as
between the Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of any Holder.

          (b) Transfers of the Global Securities shall be limited to transfers in whole, but not in
part, to the Depositary, its successors or their respective nominees. Interests of beneficial
owners in a Global Security may be transferred or exchanged, in whole or in part, for Physical
Securities in accordance with the rules and procedures of the Depositary and the provisions of
Section 3.10. In addition, Physical Securities shall be transferred to all beneficial owners in
exchange for their beneficial interests in the Global Securities if (i) such Depositary has
notified the Company that the Depositary (A) is unwilling or unable to continue as Depositary for
such Global Security or (B) has ceased to be a clearing agency registered under the Exchange Act
when the Depositary is required to be so registered to act as such Depositary and, in either such
case, no successor Depositary shall have been appointed within 90 days of such notification, or
(ii) the Company, at its option, notifies the Trustee that it elects to cause the issuance of
Physical Securities, subject to applicable procedures of the Depositary.

          (c) In connection with any transfer or exchange of a portion of the beneficial interest in the
Global Security to beneficial owners pursuant to paragraph (b) above, the Security Registrar shall
(if one or more Physical Securities are to be issued) reflect on its books and records the date and
a decrease in the principal amount of the Global Security in an amount equal to the principal
amount of the beneficial interest in the Global Security to be transferred, and the Company
shall execute, and the Trustee shall authenticate and deliver, one or more Physical Securities
of like tenor and amount.

          (d) In connection with the transfer of the entire Global Security to beneficial owners
pursuant to paragraph (b) above, the Global Security shall be deemed to be surrendered to the
Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and
deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial
interest in the Global Security, an equal aggregate principal amount of Physical Securities of
authorized denominations and the same tenor.

          (e) Any Physical Security constituting a Restricted Security delivered in exchange for an
interest in the Global Security pursuant to paragraph (c) or (d) above shall, except as otherwise
provided by paragraph (b) of Section 3.10, bear the legend regarding transfer restrictions
applicable to the Physical Securities set forth on the face of the form of Security in Section
2.02.

          (f) The Holder of the Global Securities may grant proxies and otherwise authorize any Person,
including Agent Members and Persons that may hold interests through Agent Members, to take any
action that a Holder is entitled to take under this Indenture or the Securities.

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     Section 3.10 Cancellation and Transfer Provisions.

          (a) The Company at any time may deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder that the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee for cancellation any Securities previously authenticated
hereunder which the Company has not issued and sold. The Trustee shall cancel and dispose of all
Securities surrendered for registration of transfer, exchange, payment, purchase, conversion
(pursuant to Article 6 hereof) or cancellation in accordance with its customary practices. If the
Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and until the same are
delivered to the Trustee for cancellation. The Securities so acquired, while held by or on behalf
of the Company or any of its Subsidiaries, shall not entitle the Holder thereof to convert the
Securities. The Company may not issue new Securities to replace Securities it has paid in full or
delivered to the Trustee for cancellation.

          (b) If Securities are issued upon the transfer, exchange or replacement of Restricted
Securities bearing the Transfer Restriction Legend, or if a request is made to remove the Transfer
Restriction Legend on a Security, the Security so issued shall bear the Transfer Restriction
Legend, or the Transfer Restriction Legend shall not be removed, as the case may be, unless there
is delivered to the Company and the Registrar such satisfactory evidence, which shall include an
Opinion of Counsel if requested by the Company or such Registrar, as may be reasonably required by
the Company and the Registrar, that neither the Transfer Restriction Legend nor the restrictions on
transfer set forth therein are required to ensure that transfers thereof comply with the provisions
of Rule 144A or Rule 144 or that such Securities are not “restricted” within the meaning of Rule
144; provided that no such evidence need be supplied in connection with the sale of such Security
pursuant to a registration statement that is effective at the time of such sale. Upon (i)
provision of such satisfactory evidence if requested, or (ii) notification by the Company to the Trustee
and Registrar of the sale of such Security pursuant to a registration statement that is effective
at the time of such sale, the Trustee, at the written direction of the Company, shall authenticate
and deliver a Security that does not bear the Transfer Restriction Legend. If the Transfer
Restriction Legend is removed from the face of a Security and the Security is subsequently held by
an Affiliate of the Company, the Transfer Restriction Legend shall be reinstated.

          (c) No transfer of a Security to any Person shall be effective under this Indenture or the
Security unless and until such Security has been registered in the name of such Person.
Notwithstanding any other provisions of this Indenture or the Securities, transfers of a Global
Security, in whole or in part, shall be made only in accordance with Sections 3.06 and 3.09 and
this Section 3.10.

          (d) The transfer and exchange of beneficial interests in the Global Securities shall be
effected through the Depositary, in accordance with the provisions of this Indenture and the
applicable rules and procedures of the Depositary.

               (i) Beneficial interests in any Restricted Global Security may be transferred to Persons who
take delivery thereof in the form of a beneficial interest in the same Restricted Global Security
in accordance with the transfer restrictions set forth in the Transfer Restriction Legend.
Beneficial interests in any Unrestricted Global Security may be transferred to

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Persons who take delivery thereof in the form of a beneficial interest in the same or any other Unrestricted Global
Security. No written orders or instructions shall be required to be delivered to the Registrar to
effect the transfers described in this Section 3.10(d)(i).

               (ii) In connection with all transfers and exchanges of beneficial interests that are not
subject to Section 3.10(d)(i), the transferor of such beneficial interest must deliver to the
Registrar an order from a direct or indirect participant given to the Depositary directing the
Depositary to credit or cause to be credited a beneficial interest in another Global Security in an
amount equal to the beneficial interest to be transferred or exchanged and instructions containing
information regarding the account to be credited with such increase.

               (iii) A beneficial interest in any Restricted Global Security may be transferred to a Person
who takes delivery thereof in the form of a beneficial interest in another Restricted Global
Security if the transfer complies with the requirements of Section 3.10(d)(ii) and the Registrar
receives a duly executed Assignment Form in the form of set forth on the reverse of the form of
Security in Section 2.03.

               (iv) A beneficial interest in any Restricted Global Security may be exchanged for a beneficial
interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof
in the form of a beneficial interest in an Unrestricted Global Security if (1) the exchange or
transfer complies with the requirements of Section 3.10(d)(ii) and (2) if the Registrar so requests
or if the applicable rules and procedures of the Depositary so require, an Opinion of Counsel in
form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in
compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Transfer Restriction Legend are no longer required in order to maintain compliance with the
Securities Act.

          (e) The restrictions imposed by the Transfer Restriction Legend upon the transferability of
any Restricted Security shall cease and terminate when such Security has been sold pursuant to an
effective registration statement under the Securities Act or transferred pursuant to and in
compliance with Rule 144 (or any successor provision thereto) or, if earlier, one year after the
issue date of such Security. Any Security as to which such restrictions on transfer shall have
expired in accordance with their terms or shall have terminated may, upon a surrender of such
Security for exchange to the Registrar in accordance with the provisions of this Section 3.10
(accompanied, in the event that such restrictions on transfer have terminated by reason of a
transfer in compliance with Rule 144 (or any successor provision), by, if requested, an Opinion of
Counsel reasonably acceptable to the Company, addressed to the Company and in form acceptable to
the Company, to the effect that the transfer of such Security has been made in compliance with Rule
144 (or such successor provision), be exchanged for a new Security, of like tenor and aggregate
principal amount, which shall not bear the Transfer Restriction Legend.

          (f) As used in Section 3.10(d) and (e), the term “transfer” encompasses any sale, pledge,
transfer, hypothecation or other disposition of any Security.

     The Security Registrar shall retain, in accordance with its customary procedures, copies of
all letters, notices and other written communications received pursuant to this Section 3.10. The
Company shall have the right to inspect and make copies of all such letters, notices or other
written

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communications at any reasonable time upon the giving of reasonable written notice to the
Security Registrar.

     Section 3.11 CUSIP Numbers. In issuing the Securities, the Company may use “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a
convenience to Holders; provided that any such notice may state that no representation is made as
to the correctness of such numbers either as printed on the Securities or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Securities, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Company will promptly notify the Trustee of any change in the
“CUSIP” numbers.

     Section 3.12 Additional Securities. If authorized by a resolution of the Board of Directors, the Company
shall be entitled, without notice to or the consent of the Holders, to issue Additional Securities,
which shall have substantially identical terms as the Initial Securities, other than with respect
to (i) the date of issuance, (ii) the issue price, (iii) the amount of interest payable on the
first Interest Payment Date applicable thereto and (iv) if such Additional Securities shall be
issued in the form of Unrestricted Securities or Restricted Securities (in which case the
Restricted Securities will bear the Transfer Restriction Legend), the transfer restrictions in
respect of Securities that are Restricted Securities or Unrestricted Securities; provided that such
issuance shall be made in compliance with this Indenture; provided, further, that no Additional
Securities may be issued with the same “CUSIP,” “ISIN” or “Common Code” number as other Securities
unless it is so permitted in accordance with applicable law and such Additional Securities are
fungible with the Securities for U.S. federal tax purposes and
no Additional Securities, if they are Restricted Securities, may have the same “CUSIP,” “ISIN”
or “Common Code” number as any Unrestricted Security.

     With respect to any Additional Securities, the Company shall set forth in an Officers’
Certificate, a copy of which shall be delivered to the Trustee, or in a supplemental indenture, the
following information:

          (a) the aggregate principal amount of Securities outstanding immediately prior to the issuance
of such Additional Securities;

          (b) the aggregate principal amount of such Additional Securities to be authenticated and
delivered pursuant to this Indenture;

          (c) the issue price, if any, and the issue date of such Additional Securities and the amount
of interest payable on the first Interest Payment Date applicable thereto;

          (d) the “CUSIP,” “ISIN” or “Common Code” number, as applicable, of such Additional Securities;
and

          (e) whether such Additional Securities shall be Restricted Securities or Unrestricted
Securities.

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ARTICLE 4

PARTICULAR COVENANTS

     Section 4.01 Payment of Principal and Interest. The Company covenants and agrees that it shall duly and
punctually pay or cause to be paid the principal of and interest (including Additional Interest, if
any), on each of the Securities at the places, at the respective times and in the manner provided
herein and in the Securities.

     Section 4.02 Maintenance of Office or Agency. The Company shall maintain an office or agency in the
Borough of Manhattan, the City of New York, where the Securities may be surrendered for
registration of transfer or exchange or for presentation for payment or for conversion and where
notices and demands to or upon the Company in respect of the Securities and this Indenture may be
served. The Company shall give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency not designated or appointed by the Trustee. If at
any time the Company shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office, and the Company hereby appoints the Trustee as
its agent to receive all such presentations, surrenders, notices and demands.

     The Company may also from time to time designate co-registrars and one or more offices or
agencies where the Securities may be presented or surrendered for any or all such purposes and may
from time to time rescind such designations.

     The Company will give prompt written notice of any such designation or rescission and of any
change in the location of any such other office or agency.

     The Company hereby initially designates the Trustee as Paying Agent, Security Registrar,
Custodian and Conversion Agent and the Corporate Trust Office shall be considered as one such
office or agency of the Company for each of the aforesaid purposes. The Company may act as Paying
Agent and at any time appoint a new Paying Agent without prior notice to Holders.

     So long as the Trustee is the Security Registrar, the Trustee agrees to mail, or cause to be
mailed, the notices set forth in Section 10.11(a) and the third paragraph of Section 10.12. If
co-registrars have been appointed in accordance with this Section, the Trustee shall mail such
notices only to the Company and the Holders of Securities it can identify from its records.

     Section 4.03 Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid
or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 10.11,
a Trustee, so that there shall at all times be a Trustee hereunder.

     Section 4.04 Provisions as to Paying Agent.

          (a) If the Company shall appoint a Paying Agent other than the Trustee, or if the Trustee
shall appoint such a Paying Agent, the Company will cause such Paying Agent to execute and deliver
to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the
provisions of this Section 4.04:

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               (i) that it will hold all sums held by it as such agent for the payment of the principal of,
interest (including Additional Interest, if any) on, or the Fundamental Change Purchase Price,
Redemption Price or cash payments made in respect of the Coupon Make Whole Payments of, the
Securities (whether such sums have been paid to it by the Company or by any other obligor on the
Securities) in trust for the benefit of the Holders of the Securities;

               (ii) that it will give the Trustee notice of any failure by the Company (or by any other
obligor on the Securities) to make any payment of the principal of or interest (including
Additional Interest, if any) on the Securities when the same shall be due and payable; and

               (iii) that at any time during the continuance of an Event of Default, upon request of the
Trustee, it will forthwith pay to the Trustee all sums so held in trust.

     The Company shall, on or before each due date of the principal of or interest (including
Additional Interest, if any) on the Securities, deposit with the Paying Agent a sum (in funds which
are immediately available on the due date for such payment) sufficient to pay such principal or
interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the
Trustee of any failure to take such action; provided, however, that if such deposit is made on the
due date, such deposit shall be received by the Paying Agent by 10:00 a.m., New York City time, on such
date.

          (b) If the Company shall act as its own Paying Agent, it will, on or before each due date or
payment date of the principal of, or interest (including Additional Interest, if any) on, or the
Fundamental Change Purchase Price, Redemption Price or cash payments made in respect of the Coupon
Make Whole Payments of, the Securities, set aside, segregate and hold in trust for the benefit of
the Holders of the Securities a sum sufficient to pay such principal, interest (including
Additional Interest, if any), Fundamental Change Purchase Price, Redemption Price or cash payments
made in respect of the Coupon Make Whole Payments so becoming due and payable and will promptly
notify the Trustee of any failure to take such action and of any failure by the Company (or any
other obligor under the Securities) to make any payment of the principal of, or interest (including
Additional Interest, if any) on, or the Fundamental Change Purchase Price, Redemption Price or cash
payments made in respect of the Coupon Make Whole Payments of, the Securities when the same shall
become due and payable.

          (c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust by the Company or any Paying
Agent hereunder as required by this Section 4.04, such sums to be held by the Trustee upon the
trusts herein contained and upon such payment by the Company or any Paying Agent to the Trustee,
the Company or such Paying Agent shall be released from all further liability with respect to such
sums.

          (d) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 4.04 is subject to Sections 12.03 and 12.04.

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     The Trustee shall not be responsible for the actions of any other Paying Agents (including the
Company if acting as its own Paying Agent) and shall have no control of any funds held by such
other Paying Agents.

     Section 4.05 Existence. Subject to Article 9, the Company will do or cause to be done all things necessary
to preserve and keep in full force and effect its existence and rights (charter and statutory);
provided, however, that the Company shall not be required to preserve any such right if the Company
shall determine that the preservation thereof is no longer desirable in the conduct of the business
of the Company.

     Section 4.06 Maintenance of Properties. The Company will cause all properties used or useful in the
conduct of its business or the business of any Significant Subsidiary to be maintained and kept in
good condition, repair and working order and will cause to be made all necessary repairs, renewals
and replacements thereof, all as in the judgment of the Company may be necessary so that the
business carried on in connection therewith may be properly and advantageously conducted at all
times; provided, however, that nothing in this Section 4.06 shall prevent the Company from
discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the judgment
of the Company, desirable in the conduct of its business or the business of any Subsidiary.

     Section 4.07 Payment of Taxes and Other Claims. The Company will pay or discharge, or cause to be paid or
discharged, before the same may become delinquent, (a) all material taxes, assessments and
governmental charges levied or imposed upon the Company or any Significant Subsidiary or upon the
income, profits or property of the Company or any Significant Subsidiary, (b) all material claims
for labor, materials and supplies which, if unpaid, might by law become a lien or charge upon the
property of the Company or any Significant Subsidiary and (c) all material stamps and other duties,
if any, which may be imposed by the United States, or any political subdivision thereof, or therein
in connection with the issuance, transfer, exchange or conversion of any Securities or with respect
to this Indenture; provided, however, that, in the case of clauses (a) and (b), the Company shall
not be required to pay or discharge or cause to be paid or discharged any such tax, assessment,
charge or claim if the amount, applicability or validity is being contested in good faith by
appropriate proceedings and for which adequate reserves have been established in accordance with
GAAP.

     Section 4.08 Rule 144A Information Requirement. For the first year after the issue date of any Additional
Securities that are Restricted Securities, and so long as the Company issues Additional Securities
that are Restricted Securities and there are any Restricted Securities or any shares of Common
Stock issued upon conversion of Restricted Securities that are “restricted securities” under Rule
144 outstanding, the Company covenants and agrees that it shall, during any period in which it is
not subject to Section 13 or 15(d) under the Exchange Act, file all reports, if any, as would be
required by the provisions of Section 314(a) of the Trust Indenture Act and make available to any
holder or beneficial holder of Securities or any Common Stock issued upon conversion thereof which
continue to be Restricted Securities in connection with any sale thereof and any prospective
purchaser of Securities or such Common Stock designated by such holder or beneficial holder, the
information required pursuant to Rule 144A(d)(4) under the Securities Act upon the request of any
holder or beneficial holder of the Securities or such Common Stock and it will take such further
action as any holder or beneficial holder of such Securities or such Common Stock may reasonably
request, all to the extent required from time to time to enable such holder or

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beneficial holder to sell its
Securities or Common Stock without registration under the Securities Act within the limitation of
the exemption provided by Rule 144A, as such rule may be amended from time to time. Upon the
request of any holder or any beneficial holder of the Securities or such Common Stock, the Company
will deliver to such holder a written statement as to whether it has complied with such
requirements.

     Section 4.09 Resale of Certain Securities. During the period beginning on the date of
issuance of any Additional Securities that are Restricted Securities and ending on the date that is
one year thereafter, the Company shall not, and shall not permit any of its “affiliates” (as
defined under Rule 144 under the Securities Act or any successor provision thereto) to, resell any
Securities which constitute “restricted securities” under Rule 144 that have been reacquired by any
of them. The Trustee shall have no responsibility in respect of the Company’s performance of its
agreement in the preceding sentence.

     Section 4.10 Commission Filings and Reports. Any information, documents or reports that the
Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act
must be filed by the Company with the Trustee within 15 days after the same are required to be
filed with the Commission. Documents filed by the Company with the Commission via the Electronic
Data Gathering, Analysis and Retrieval (EDGAR) system will be deemed to be filed with the Trustee
as of the time such documents are filed via EDGAR.

     If at any time the Company is not subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act, the Company will file all reports, if any, as would be required by the
provisions of Section 314(a)(1) of the Trust Indenture Act, with the Trustee.

     Section 4.11 Book-Entry System. If the Securities cease to trade in the Depositary’s
book-entry settlement system, the Company covenants and agrees that it shall use reasonable efforts
to make such other book-entry arrangements that it determines are reasonable for the Securities.

     Section 4.12 Additional Interest. If at any time Additional Interest becomes payable by the
Company pursuant to Section 8.03, the Company shall promptly deliver to the Trustee a certificate
to that effect and stating (a) the amount of such Additional Interest that is payable and (b) the
date on which such Additional Interest is payable. Unless and until a Trust Officer of the Trustee
receives such a certificate, the Trustee may assume without inquiry that no Additional Interest is
payable. If the Company has paid Additional Interest directly to the Persons entitled to such
Additional Interest, the Company shall deliver to the Trustee a certificate setting forth the
particulars of such payment.

     Section 4.13 Stay; Extension and Usury Laws. The Company covenants (to the extent that it may
lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other law which would
prohibit or forgive the Company from paying all or any portion of the principal of or interest
(including Additional Interest, if any) on the Securities as contemplated herein, wherever enacted,
now or at any time hereafter in force, or which may affect the covenants or the performance of this
Indenture and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit
or advantage of any such law, and covenants that it will not, by resort to any such law, hinder,
delay or impede the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law had been enacted.

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     Section 4.14 Compliance Certificate. The Company shall deliver to the Trustee, within one
hundred twenty (120) days after the end of each fiscal year of the Company, beginning with the
fiscal year ended December 31, 2011, an Officers’ Certificate, stating whether or not to the
knowledge of the signer thereof the Company is or was at all times during the completed fiscal year
in compliance with all of the conditions and covenants of this Indenture (without regard to any
period of grace or requirement of notice provided hereunder) and, if the Company shall be or was in
default, specifying all such defaults and the nature and the status thereof of which the signer may
have knowledge.

     The Company shall deliver to the Trustee, within 30 days after the Company becomes aware of
the occurrence of any Event of Default or an event which, with notice or the lapse of time or both,
would constitute an Event of Default, a written notice setting forth the details of such Event of
Default or Default, its status and the action which the Company proposes to take with respect
thereto.

     Any notice required to be given under this Section 4.14 shall be delivered to a Trust Officer
of the Trustee at its Corporate Trust Office.

     Section 4.15 Limitations on Liens with Respect to Equity, Equity Linked Securities and Related
Indebtedness. The Company will not, and will not permit any Subsidiary to, incur or permit to
exist any Lien of any nature whatsoever on any of its properties or assets, whether owned at the
Issue Date or thereafter acquired, or upon any income or profits therefrom, with respect to or
securing any Indebtedness, which is either (a) Indebtedness arising under or with respect to any
Equity or Equity Linked Securities, or (b) Indebtedness issued, incurred or entered into in a
transaction or series of related transactions of which the issuance of Equity or Equity Linked
Securities is a related part, such as the issuance and sale of units comprised of Indebtedness and
Equity or Equity Linked Securities or the issuance and sale of Indebtedness in connection with
Equity or Equity Linked Securities in one or more related transactions, whether or not the
purchasers of such Indebtedness and Equity and Equity Linked Securities are the same or related,
other than:

               (i) customary Liens granted in favor of a trustee to secure fees and other amounts owing to
such trustee under an indenture which does not otherwise violate this covenant; and

               (ii) Liens securing any Indebtedness of the Company or any Subsidiary issued or incurred under
debt facilities or credit agreements with banking institutions providing for term loans, revolving
credit loans or letters of credit for working capital purposes, including any such Indebtedness in
connection with which warrants for Common Stock are issued; provided that in the case of any such
agreement, such warrants do not have an aggregate value at the time of issuance in excess of 5% of
the aggregate credit commitment under such agreement with such value determined by an appraisal or
valuation firm of national reputation in the United States.

     The restrictions on the Company and its Subsidiaries set forth in this Section 4.15 shall
terminate at such time when less than 50% of the principal amount of Securities originally issued
on the Issue Date remain outstanding.

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     Section 4.16 Payments for Consent. The Company will not, and will not permit any of its
Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration, whether by way
of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Securities, unless such
consideration is offered to be paid or agreed to be paid to all holders of the Securities that
consent, waive or agree to amend such term or provision within the time period set forth in the
solicitation documents relating to the consent, waiver or amendment.

ARTICLE 5

PURCHASE AT OPTION OF HOLDERS UPON A FUNDAMENTAL CHANGE

     Section 5.01 Purchase at Option of Holders upon a Fundamental Change.

          (a) Generally. If a Fundamental Change occurs at any time prior to the Maturity Date of the
Securities, then each Holder shall have the right (the “Fundamental Change Purchase Right”), at
such Holder’s option, to require the Company to purchase all of such Holder’s Securities, or any
portion thereof that is equal to $1,000 or an integral multiple of $1,000 principal amount, on a
date specified by the Company that is not less than 20 Business Days nor more than 35 Business Days
after the date of the Fundamental Change Notice (as defined below), subject to extension to comply
with applicable law (the “Fundamental Change Purchase Date”), at a purchase price in cash equal to
100% of the principal amount of the Securities to be purchased plus accrued and unpaid interest
thereon (including Additional Interest, if any) to, but excluding, the Fundamental Change Purchase
Date (the “Fundamental Change Purchase Price”), subject to the satisfaction by the Holder of the
requirements set forth in Section 5.01(c); provided, however, if the Fundamental Change Purchase
Date occurs after a Regular Record Date and on or prior to the Interest Payment Date to which it
relates, the Company will pay the full amount of accrued and unpaid interest (including Additional
Interest, if any) due on such Interest Payment Date to the Holder of record as of the corresponding
Regular Record Date, and the Fundamental Change Purchase Price payable to the Holder of such
Security will be 100% of the principal amount of such Security.

          (b) Delivery of Fundamental Change Notice. On or before the 20th calendar day after the
occurrence of a Fundamental Change, and promptly following any extension of the Fundamental Change
Purchase Date to comply with applicable law, the Company shall provide or cause to be provided to
all Holders of record of the Securities on the date of the Fundamental Change at their addresses
shown in the Security Register a written notice containing the information set forth in
Section 5.02 (the “Fundamental Change Notice”) with respect to such Fundamental Change and the
resulting Fundamental Change Purchase Right. The Company shall also deliver a copy of the
Fundamental Change Notice to the Trustee, the Conversion Agent and the Paying Agent at such time as
it is mailed to Holders of Securities. Simultaneously with providing such Fundamental Change
Notice, the Company shall promptly publicly announce the relevant information through a reputable
national newswire in the United States and make such information available on the Company Website.

     No failure of the Company to give the foregoing notices and no defect therein shall limit any
Holder’s purchase rights or affect the validity of the proceedings for the purchase of the
Securities pursuant to this Section 5.01.

-42-

 

          (c) Delivery of Fundamental Change Purchase Notice. If a Holder wishes to exercise the
Fundamental Change Purchase Right with respect to all or any portion of its Securities, the Holder
must deliver to the Paying Agent, at any time after the occurrence of the Fundamental Change and
prior to the Close of Business on the Business Day immediately preceding the Fundamental Change
Purchase Date,

               (i) a duly completed notice (the “Fundamental Change Purchase Notice”) in the form set forth
on Exhibit A hereto (provided that if a Holder holds a beneficial interest in a Global
Security instead of Physical Securities, the Holder’s notice must comply with the appropriate
procedures of the Depositary and its direct and indirect participants), which must specify:

                    (A) if the Securities are Physical Securities, the certificate numbers of the Holder’s
Securities to be delivered for purchase;

                    (B) the portion of the principal amount of the Holder’s Securities to be purchased, which must
be $1,000 or an integral multiple thereof; and

                    (C) that the Holder’s Securities are to be purchased by the Company pursuant to this
Section 5.01;

               (ii) delivery or book-entry transfer of the Securities to the Trustee (or other Paying Agent
appointed by the Company) at any time after delivery of the Fundamental Change Purchase Notice
(together with all necessary endorsements) at the applicable Corporate Trust Office of the Trustee
(or other Paying Agent appointed by the Company), such delivery being a condition to receipt by the
Holder of the Fundamental Change Purchase Price therefor; provided that such Fundamental Change
Purchase Price shall be so paid pursuant to this Section 5.01 only if the Securities so delivered
to the Trustee (or other Paying Agent appointed by the Company) shall conform in all respects to
the description thereof in the related Fundamental Change Purchase Notice and no written notice of
withdrawal in accordance and complying with Section 5.03 shall have been received by the Paying
Agent at any time prior to the Close of Business on the Business Day immediately preceding the
Fundamental Change Purchase Date.

     All questions as to the validity, eligibility (including time of receipt) and acceptance of
Securities for purchase shall be determined by the Company, whose determination shall be final and
binding absent manifest error.

          (d) The Company shall purchase from the Holder thereof, pursuant to this Section 5.01, a
portion of a Security, if the principal amount of such portion is $1,000 or an integral multiple of
$1,000. Provisions of this Indenture that apply to the purchase of all of a Security shall apply
to the purchase of such portion of such Security.

          (e) The Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Purchase Notice or written notice of withdrawal thereof.

          (f) No Payment During Events of Default. Notwithstanding the foregoing, no Securities may be
purchased by the Company at the option of the Holders upon a Fundamental Change pursuant to this
Section 5.01 if an Event of Default has occurred and is continuing other than

-43-

 

an Event of Default
that is cured by the payment of the Fundamental Change Purchase Price on the Fundamental Change
Purchase Date.

     Any purchase by the Company contemplated pursuant to the provisions of this Section 5.01 shall
be consummated by the delivery to the Paying Agent of the consideration to be received by the
Holder promptly following the later of the Fundamental Change Purchase Date or the time of the
book-entry transfer or delivery of the Securities.

     Section 5.02 Fundamental Change Notice. In connection with any purchase of Securities
pursuant to Section 5.01, the Fundamental Change Notice shall:

               (i) state the Fundamental Change Purchase Price and the Fundamental Change Purchase Date to
which the Fundamental Change Notice relates;

               (ii) state the event constituting the Fundamental Change and the effective date of the
Fundamental Change;

               (iii) state that the Fundamental Change Purchase Price will be paid in cash;

               (iv) state that Holders must exercise their Fundamental Change Purchase Right prior to the
Close of Business on the Business Day immediately preceding the Fundamental Change Purchase Date;

               (v) state the name and address of the Paying Agent;

               (vi) state that Securities must be surrendered to the Paying Agent to collect the Fundamental
Change Purchase Price;

               (vii) state the Applicable Conversion Rate and, if applicable, any adjustments to the
Applicable Conversion Rate and expected changes in cash, shares or other property deliverable upon
conversion of the Securities as a result of the occurrence of the Fundamental Change;

               (viii) state that a Holder may withdraw its Fundamental Change Purchase Notice in whole or in
part at any time prior to the Close of Business on the Business Day immediately preceding the
Fundamental Change Purchase Date by delivering a valid written notice of withdrawal to the Paying
Agent in accordance with Section 5.03;

               (ix) state that Securities as to which a Fundamental Change Purchase Notice has been given may
be converted only if the Fundamental Change Purchase Notice is withdrawn in accordance with the
terms of this Indenture;

               (x) state the amount of interest accrued and unpaid per $1,000 principal amount of Securities
to, but excluding, the Fundamental Change Purchase Date; and

               (xi) state the CUSIP number(s) of the Securities.

-44-

 

     A Fundamental Change Notice may be given by the Company or, at the Company’s request, the
Trustee shall give such Fundamental Change Notice in the Company’s name and at the Company’s
expense; provided, that the text of the Fundamental Change Notice shall be prepared by the Company.

     In connection with any purchase pursuant to exercise of the Fundamental Change Purchase Right,
the Company will, to the extent required, (i) comply with the provisions of Rule 13e-4, Rule 14e-1
(or any successor provision) and any other tender offer rules under the Exchange Act that may be
applicable at the time of the purchase of the Securities, (ii) file the related Schedule TO (or any
successor schedule, form or report) or any other schedule required in connection with any offer by
the Company to purchase the Securities under the Exchange Act and (iii) otherwise comply with all
federal and state securities laws so as to permit the rights and obligations under Section 5.01 to
be exercised in the time and in the manner specified in Section 5.01.

     Notwithstanding the foregoing, the Company will not be required to make an offer to purchase
the Securities after the Maturity Date.

     No failure of the Company to give the foregoing notices and no defect therein shall limit any
Holder’s purchase rights or affect the validity of the proceedings for the purchase of the
Securities pursuant to Section 5.01.

     Section 5.03 Effect of Fundamental Change Purchase Notice; Withdrawal.

          (a) Upon receipt by the Paying Agent of the Fundamental Change Purchase Notice specified in
Section 5.01, the Holder of the Securities in respect of which such Fundamental Change Purchase
Notice was given shall (unless such Fundamental Change Purchase Notice is validly withdrawn in
accordance with the following paragraph) thereafter be entitled to receive solely the Fundamental
Change Purchase Price with respect to such Securities. Such Fundamental Change Purchase Price
shall be paid to such Holder, subject to receipt of funds and/or the Securities by the Paying
Agent, promptly following the later of (x) the Fundamental Change Purchase Date with respect to
such Securities (provided the Holder has satisfied the conditions in Section 5.01) and (y) the time
of book-entry transfer or delivery of such Securities, together with necessary endorsements, to the
Paying Agent by the Holder thereof in the manner required by Section 5.01. The Securities in
respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not
be converted pursuant to Article 6 hereof on or after the date of delivery of such Fundamental
Change Purchase Notice unless such Fundamental Change Purchase Notice has first been validly
withdrawn.

          (b) A Fundamental Change Purchase Notice may be withdrawn (in whole or in part) by means of a
written notice of withdrawal delivered to the Paying Agent in accordance with the Fundamental
Change Notice at any time prior to the Close of Business on the Business Day immediately preceding
the Fundamental Change Purchase Date (provided that if a Holder holds a beneficial interest in a
Global Security instead of Physical Securities, the Holder’s notice must comply with the
appropriate procedures of the Depositary and its direct and indirect participants), specifying:

-45-

 

               (i) if the Securities are Physical Securities, the certificate numbers of the withdrawn
Securities;

               (ii) the principal amount of the Securities with respect to which notice of withdrawal is
being submitted, which must be in $1,000 or integral multiples thereof; and

               (iii) the principal amount, if any, of such Securities which remains subject to the original
Fundamental Change Purchase Notice, which must be $1,000 or integral multiples thereof.

     If a Fundamental Change Purchase Notice is properly withdrawn, the Company shall not be
obligated to purchase the Securities listed on the Fundamental Change Purchase Notice.

     Section 5.04 Deposit of Fundamental Change Purchase Price. No later than 10:00 a.m., New York
City time, on the Fundamental Change Purchase Date, the Company shall deposit with the Paying Agent
(or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying
Agent, shall segregate and hold in trust as provided herein) an amount of money (in immediately
available funds if deposited on such Fundamental Change Purchase Date) sufficient to pay the
Fundamental Change Purchase Price, of all the Securities or portions thereof that are to be
purchased as of the Fundamental Change Purchase Date. The Company shall promptly notify the
Trustee in writing of the amount of any deposits of cash made pursuant to this Section 5.04.

     If on the Fundamental Change Purchase Date the Paying Agent holds cash sufficient to pay the
Fundamental Change Purchase Price of the Securities that Holders have elected to require the
Company to purchase in accordance with Section 5.01, then, as of the Fundamental Change Purchase
Date, (a) such Securities will cease to be outstanding and interest, including Additional Interest
if any, will cease to accrue thereon and (b) all other rights of Holders in respect of such
Securities will terminate (other than the right to receive the Fundamental Change Purchase Price
upon delivery or transfer of such Security). This will be the case whether book-entry transfer of
the Securities has been made or the Securities have been delivered to the Paying Agent, as the case
may be.

     Section 5.05 Securities Purchased in Whole or in Part. Any Security that is to be purchased,
whether in whole or in part, shall be surrendered at the office of the Paying Agent (with, if the
Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing) and the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of such Security, without service charge, a new Security or
Securities, of any authorized denomination as requested by such Holder in aggregate principal
amount equal to, and in exchange for, the portion of the principal amount of the Security so
surrendered which is not purchased; provided that in no event shall a Security of a principal
amount of $1,000 or less be purchased in part.

     Section 5.06 Repayment to the Company. The Paying Agent shall return to the Company any cash
that remains unclaimed, together with interest (including Additional Interest, if any) or
dividends, if any, thereon, held by them for the payment of the Fundamental Change Purchase Price;
provided that to the extent that the aggregate amount of cash deposited by the Company pursuant to

-46-

 

Section 5.04 exceeds the aggregate Fundamental Change Purchase Price of the Securities or portions
thereof which the Company is obligated to purchase as of the Fundamental Change Purchase Date, then
as soon as practicable following the Fundamental Change Purchase Date, the Paying Agent shall
return any such excess to the Company.

ARTICLE 6

CONVERSION

     Section 6.01 Right to Convert.

          (a) Subject to and upon compliance with the provisions of this Indenture (including
Section 6.16), each Holder shall have the right, at such Holder’s option, at any time prior to the
Close of Business on the Business Day immediately preceding the Maturity Date, to convert the
principal amount of such Holder’s Securities, or any portion of such principal amount which is
$1,000 or an integral multiple thereof, into shares of Common Stock.

          (b) Notwithstanding the foregoing, if a Holder of Securities has submitted Securities for
purchase under Section 5.01, the Holder may convert such Securities only if the Holder first
withdraws its Fundamental Change Purchase Notice pursuant to Section 5.03.

          (c) Provisions of this Indenture that apply to conversion of all of a Security also apply to
conversion of a portion of a Security.

          (d) A Holder of Securities is not entitled to any rights of a holder of Common Stock until
such Holder has converted its Securities, and only to extent such Securities are deemed to have
been converted into shares of Common Stock pursuant to this Article 6.

     Section 6.02 Conversion Procedure.

          (a) Each Security shall be convertible at the office of the Conversion Agent.

          (b) In order to exercise the conversion right with respect to any interest in Global
Securities, the Holder must complete the appropriate instruction form for conversion pursuant to
the Depositary’s book-entry conversion program, furnish appropriate endorsements and transfer
documents if required by the Company or the Trustee or Conversion Agent, and pay any transfer taxes
if required pursuant to Section 6.08. In order to exercise the conversion right with respect to
any Physical Securities, the Holder of any such Securities to be converted, in whole or in part,
shall:

               (i) complete and manually sign the conversion notice provided on the back of the Security (the
“Conversion Notice”) or facsimile of the conversion notice;

               (ii) deliver the Conversion Notice, which is irrevocable, and the Security to a Conversion
Agent;

               (iii) if required, furnish appropriate endorsements and transfer documents; and

-47-

 

               (iv) if required, pay any transfer taxes, duties or similar taxes payable by such Holder.

     The date on which the Holder satisfies all of the applicable requirements set forth above is
the “Conversion Date.”

          (c) As soon as practicable, but in any event (i) in the case of a voluntary conversion by a
Holder, within three Business Days of the relevant Conversion Date and (ii) in the case of a
Mandatory Conversion at the Company’s election pursuant to Section 6.09, on the Mandatory
Conversion Date specified in the Company Conversion Notice, the Company shall issue and shall
deliver to the Holder at the office of the Conversion Agent, a certificate or certificates for the
number of full shares of Common Stock issuable in respect of such conversion in accordance with the
provisions of this Article 6. In case any Securities of a denomination greater than $1,000 shall
be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of the Securities so surrendered, without charge to such Holder, new
Securities in authorized denominations in an aggregate principal amount equal to the unconverted
portion of the surrendered Securities.

     Each conversion shall be deemed to have been effected as to any Securities (or portion
thereof) converted in a voluntary conversion by a Holder immediately prior to the Close of Business
on the date on which the requirements set forth above in Section 6.02(b) have been satisfied as to
such Securities (or portion thereof), or immediately prior to the Close of Business on the
Mandatory Conversion Date for conversions pursuant to Section 6.09; provided, however, that the
person in whose name any certificate or certificates for shares of Common Stock shall be issuable
upon such conversion shall be deemed to have become as of the relevant Conversion Date or the
Mandatory Conversion Date, as the case may be, the Holder of record of the shares of Common Stock
represented thereby; provided further, that in case of any such surrender on any date when the
share transfer books of the Company shall be closed, the person or persons in whose name the
certificate or certificates for such shares are to be issued shall be deemed to have become the
record Holder thereof for all purposes on the next day on which such share transfer books are open,
but such conversion shall be at the Conversion Rate in effect on the date upon which such
Securities shall be surrendered.

          (d) Upon the conversion of an interest in Global Securities, the Trustee (or other Conversion
Agent appointed by the Company) shall make a notation on such Global Securities as to the reduction
in the principal amount represented thereby. The Company shall notify the Trustee in writing of
any conversions of Securities effected through any Conversion Agent other than the Trustee.

          (e) Each share certificate representing shares of Common Stock issued upon conversion of the
Securities that are Restricted Securities shall bear appropriate legends regarding restrictions on
the transfer of such Common Stock comparable to those set forth in Section 2.02.

     Section 6.03 Settlement upon Conversion.

          (a) Settlement upon conversion will be solely in shares of Common Stock (other than cash in
lieu of fractional shares and cash payments made in respect of the Coupon Make Whole

-48-

 

Payments
pursuant to Sections 6.07 and 6.10 and accrued and unpaid interest upon conversion pursuant to this
Section 6.03). With respect to the aggregate principal amount of Securities to be converted, the
Company shall, subject to the provisions of this Article 6, deliver to converting Holders, in
respect of each $1,000 principal amount of Securities being converted, a number of shares of Common
Stock equal to the Applicable Conversion Rate; provided that the Company will deliver cash in lieu
of fractional shares in accordance with Section 6.03(d). If the Company delivers shares in respect
of the Coupon Make Whole Payment, if any, the number of shares to be delivered will be determined
in accordance with Sections 6.07 and 6.10, as applicable.

          (b) Upon any conversion on or prior to April 15, 2015, Holders shall not receive any separate
cash payment for accrued and unpaid interest (including Additional Interest, if any) in connection
with the conversion of any Securities unless the Conversion Date or the Mandatory Conversion Date,
as the case may be, occurs after the Close of Business on a Regular Record Date for the payment of
interest but prior to the Open of Business on the related Interest Payment Date, in which case
Holders of such converted Securities at the Close of Business on such Regular Record Date will
receive the interest (including Additional Interest, if any) payable on such Securities on the
corresponding Interest Payment Date notwithstanding the conversion.

          (c) Upon any conversion after April 15, 2015, on the Conversion Date or Mandatory Conversion
Date, as the case may be, Holders shall receive a separate cash payment for accrued and unpaid
interest (including Additional Interest, if any) through and including the Conversion Date or
Mandatory Conversion Date, as the case may be; provided that if the Conversion Date or the
Mandatory Conversion Date, as the case may be, occurs after the Close of Business on a Regular
Record Date for the payment of interest but prior to the Open of Business on the related Interest
Payment Date, Holders of such Securities at the Close of Business on such Regular Record Date will
receive the interest (including Additional Interest, if any) payable on such Securities on the
corresponding Interest Payment Date notwithstanding the conversion.

          (d) The Company shall not issue fractional shares upon conversion of Securities. If multiple
Securities shall be surrendered for conversion at one time by the same Holder, the number of full
shares which shall be issuable upon conversion (and the number of fractional shares, if any, for
which cash shall be delivered) shall be computed on the basis of the aggregate principal amount of
the Securities (or specified portions thereof to the extent permitted hereby) so surrendered. If
any fractional share would be issuable upon the conversion of any Securities, the Company shall pay
the converting Holder an amount in cash for the current market value of the fractional shares. The
current market value of a fractional share shall be determined (calculated to the nearest 1/1000th
of a share) by multiplying the Last Reported Sale Price of the Common Stock on the relevant
Conversion Date or Mandatory Conversion Date, as the case may be, by such fractional share and
rounding the product to the nearest whole cent.

          (e) By delivery to the Holder of the full number of shares of Common Stock issuable upon
conversion (including shares issued to satisfy the Coupon Make Whole Payments, if any), together
with accrued and unpaid interest (and Additional Interest, if any) pursuant to this Section 6.03,
any cash in lieu of fractional shares and cash payments made in respect of the Coupon Make Whole
Payments, if any, pursuant to Sections 6.07 and 6.10, the Company will be deemed to satisfy in full
its obligation to pay the principal amount of the Securities and all accrued and unpaid interest
(and Additional Interest, if any) with respect to the converted Securities. Upon conversion of

-49-

 

the
Securities, all accrued and unpaid interest (and Additional Interest, if any) will be deemed to be
paid in full rather than canceled, extinguished or forfeited, unless such conversion occurs after
the Close of Business on a Regular Record Date and prior to the Open of Business on the Interest
Payment Date to which it relates, in which case such payment shall be made to the Holder of the
converted Securities as of the Close of Business on the Regular Record Date.

     Section 6.04 Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time
to time by the Company as follows:

          (a) In case the Company shall, at any time or from time to time while any of the Securities
are outstanding, pay a dividend in shares of Common Stock or make a distribution in shares of
Common Stock, in each case, to all or substantially all holders of Common Stock, the Conversion
Rate will be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	OS1
	 	 	 	 	 
	 	 	 	 	OS0

     where

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the Ex-Dividend Date for such dividend or distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect on the Ex-Dividend Date for such dividend or
distribution;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of shares of Common Stock outstanding at the Close of Business
on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or
distribution; and
	 
	 	 	 	 
	OS1

	 	=
	 	the number of shares of Common Stock that would be outstanding immediately
after, and solely as a result of, such dividend or distribution.

     Any adjustment made pursuant to this Section 6.04(a) shall become effective immediately prior
to the Open of Business on the Ex-Dividend Date for such dividend or distribution. If any dividend
or distribution that is the subject of this Section 6.04(a) is declared but not so paid or made,
the Conversion Rate shall be readjusted, effective as of the date the Company publicly announces
its decision not to make such dividend or distribution, to the Conversion Rate that would then be
in effect if such dividend or distribution had not been declared. For purposes of this
Section 6.04(a), the number of shares of Common Stock outstanding at the Close of Business on the
Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution shall not
include shares of Common Stock held in treasury, if any. The Company will not pay any dividend or
make any distribution on Common Stock held in treasury, if any.

          (b) In case outstanding shares of Common Stock shall be subdivided into a greater number of
shares of Common Stock or combined into a smaller number of shares of Common Stock, the Conversion
Rate will be adjusted based on the following formula:

-50-

 

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	OS1
	 	 	 	 	 
	 	 	 	 	OS0

     where

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the effective date of such subdivision or combination;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect on the effective date of such subdivision or
combination;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of shares of Common Stock outstanding at the Close of Business
on the Trading Day immediately preceding the effective date of such subdivision or
combination; and
	 
	 	 	 	 
	OS1

	 	=
	 	the number of shares of Common Stock that would be outstanding immediately
after, and solely as a result of, such subdivision or combination.

     Any adjustment made pursuant to this Section 6.04(b) shall become effective immediately prior
to the Open of Business on the effective date of such subdivision or combination.

          (c) In case the Company shall issue rights (other than rights issued pursuant to a stockholder
rights plan) or warrants to all or substantially all holders of Common Stock entitling them to
purchase, for a period expiring within 45 calendar days of the date of announcement, Common Stock
at an aggregate price per share less than the average of the Last Reported Sale Prices of the
Common Stock during the 10 consecutive Trading Day period ending on the Trading Day immediately
preceding the date that the issuance of the rights or warrants was first publicly announced, the
Conversion Rate will be adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	OS0 + X
	 	 	 	 	 
	 	 	 	 	OS0 + Y

     where

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the Ex-Dividend Date for such issuance;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect on the Ex-Dividend Date for such issuance;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of shares of Common Stock outstanding at the Close of Business
on the Trading Day immediately preceding the Ex-Dividend Date for such issuance;
	 
	 	 	 	 
	X

	 	=
	 	the total number of shares of Common Stock issuable pursuant to such rights
or warrants; and

-51-

 

	 	 	 	 	 

	Y

	 	=
	 	the number of shares of Common Stock equal to the quotient of (x) the
aggregate price payable to exercise such rights or warrants divided by (y) the average
of the Last Reported Sale Prices of the Common Stock during the 10 consecutive Trading
Day period ending on the Trading Day immediately preceding the date such issuance was
first publicly announced.

     Any adjustment made pursuant to this Section 6.04(c) shall become effective immediately prior
to the Open of Business on the Ex-Dividend Date for such issuance. In the event that such rights
or warrants described in this Section 6.04(c) are not so issued, the Conversion Rate shall be
readjusted, effective as of the date the Company publicly announces its decision not to issue such
rights or warrants, to the Conversion Rate that would then be in effect if such issuance had not
been declared. To the extent that such rights or warrants are not exercised prior to their
expiration or shares of Common Stock are otherwise not delivered pursuant to such rights or
warrants upon the exercise of such rights or warrants, the Conversion Rate shall be readjusted to
the Conversion Rate that would then be in effect had the adjustments made upon the issuance of such
rights or warrants been made on the basis of the delivery of only the number of shares of Common
Stock actually delivered. In determining the aggregate price payable to exercise such rights or
warrants, there shall be taken into account any consideration received by the Company for such
rights or warrants and the value of such consideration (if other than cash, to be determined by the
Company’s Board of Directors). For purposes of this Section 6.04(c), the number of shares of
Common Stock outstanding at the Close of Business on the Trading Day immediately preceding the
Ex-Dividend Date for such issuance shall not include shares of Common Stock held in treasury, if
any. The Company will not issue any rights or warrants in respect of shares of Common Stock held
in treasury, if any.

          (d) In case the Company shall, by dividend or otherwise, distribute to all or substantially
all holders of its outstanding Common Stock, shares of the Company’s Capital Stock, evidences of
the Company’s indebtedness or assets, including securities, but excluding:

               (i) any dividends or distributions referred to in Section 6.04(a) above;

               (ii) shares delivered in connection with subdivisions of Common Stock referred to in
Section 6.04(b) above;

               (iii) any rights or warrants referred to in Section 6.04(c) above;

               (iv) any rights or warrants referred to in the last paragraph of this Section 6.04(d) below
(to the extent and as specified therein);

               (v) any dividends or distributions referred to in Section 6.04(e) below; and

               (vi) any Public Spin-Offs to which the provisions set forth below in this Section 6.04(d)
applies,

then for these non-excluded transactions and events, the Conversion Rate will be adjusted based on
the following formula:

-52-

 

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	SP0
	 	 	 	 	 
	 	 	 	 	SP0 - FMV

     where

	 	 	 	 	 

	     CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the Ex-Dividend Date for such distribution;
	 
	 	 	 	 
	     CR1

	 	=
	 	the Conversion Rate in effect on the Ex-Dividend Date for such
distribution;
	 
	 	 	 	 
	     SP0

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock during
the 10 consecutive Trading Day period ending on the Trading Day immediately preceding
the Ex-Dividend Date for such distribution; and
	 
	 	 	 	 
	     FMV

	 	=
	 	the Fair Market Value (as determined by the Company’s Board of Directors)
on the Ex-Dividend Date for such distribution of shares of the Company’s Capital
Stock, evidences of the Company’s indebtedness or assets, including securities, so
distributed, expressed as an amount per share of Common Stock.

     If the transaction that gives rise to an adjustment pursuant to this Section 6.04(d) is,
however, one pursuant to which the payment of a dividend or other distribution on Common Stock
consists of shares of Capital Stock of any class or series of, or similar equity interests in, a
Subsidiary or other business unit of the Company (i.e. a “spin-off”) that are, or when issued, will
be, traded or listed on The Nasdaq Stock Market, the New York Stock Exchange or any other U.S.
national securities exchange or market (a “Public Spin-Off”), the Conversion Rate will be adjusted
based on the following formula:

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	FMV0 + MP0
	 	 	 	 	 
	 	 	 	 	MP0

     where

	 	 	 	 	 

	     CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the Ex-Dividend Date for such distribution;
	 
	 	 	 	 
	     CR1

	 	=
	 	the Conversion Rate in effect on the Ex-Dividend Date for such
distribution;
	 
	 	 	 	 
	     FMV0

	 	=
	 	the average of the Last Reported Sale Prices of the Capital Stock or
similar equity interests distributed in the Public Spin-Off to holders of Common Stock
applicable to one share of Common Stock during the 10 consecutive Trading Day period
commencing on and including the effective date of the Public Spin-Off (the “Public
Spin-Off Valuation Period”); and
	 
	 	 	 	 
	     MP0

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock during
the Public Spin-Off Valuation Period.

     Any adjustment made pursuant to this Section 6.04(d) shall become effective immediately prior
to the Open of Business on the Ex-Dividend Date for such distribution. If any dividend or
distribution of the type described in this Section 6.04(d) is declared but not so paid or made, the

-53-

 

Conversion Rate shall be readjusted, effective as of the date the Company publicly announces its
decision not to pay such dividend or distribution, to the Conversion Rate that would then be in
effect if such dividend or distribution had not been declared. If an adjustment to the Conversion
Rate is required pursuant to this Section 6.04(d) during any settlement period in respect of
Securities that have been tendered for conversion, delivery of the related conversion consideration
will be delayed to the extent necessary in order to complete the calculations provided for in this
Section 6.04(d).

     For purposes of this Section 6.04(d), rights or warrants distributed by the Company to all or
substantially all holders of Common Stock entitling the holders thereof to subscribe for or
purchase shares of the Company’s Capital Stock (either initially or under certain circumstances),
which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”):
(i) are deemed to be transferred with such shares of Common Stock; (ii) are not exercisable; and
(iii) are also issued in respect of future issuances of shares of Common Stock, shall be deemed not
to have been distributed for purposes of this Section 6.04(d) (and no adjustment to the Conversion
Rate under this Section 6.04(d) will be required) until the occurrence of the earliest Trigger
Event, whereupon such rights and warrants shall be deemed to have been distributed and an
appropriate adjustment (if any is required) to the Conversion Rate shall be made under this
Section 6.04(d), except as set forth in Section 6.14. If any such rights or warrants are subject
to events, upon the occurrence of which such rights or warrants become exercisable to purchase or
exchangeable for additional or different securities, evidences of indebtedness or other assets,
then the date of the occurrence of any and each such event shall be deemed to be the date of
distribution and Trigger Event with respect to new rights or warrants with such rights (and a
termination or expiration of the existing rights or warrants to the extent not exercised by any of
the holders thereof), except as set forth in Section 6.14. In addition, except as set forth in
Section 6.14, in the event of any distribution (or deemed distribution) of rights or warrants, or
any Trigger Event or other event (of the type described in the preceding sentence) with respect
thereto that was counted for purposes of calculating a distribution amount for which an adjustment
to the Conversion Rate under this Section 6.04(d) was made (including any adjustment contemplated
by Section 6.14), (1) in the case of any such rights or warrants that shall all have been redeemed
or repurchased without exercise by any holders thereof, the Conversion Rate shall be readjusted
upon such final redemption or repurchase to give effect to such distribution or Trigger Event, as
the case may be, as though it were a cash distribution, equal to the per share redemption or
repurchase price received by a holder or holders of Common Stock with respect to such rights or
warrants (assuming such holder had retained such rights or warrants), made to all holders of Common
Stock as of the date of such redemption or repurchase, and (2) in the case of such rights or
warrant that shall have expired or been terminated without exercise by any holders thereof, the
Conversion Rate shall be readjusted as if such rights and warrants had not been issued.

          (e) In case the Company shall pay a dividend or otherwise distribute to all or substantially
all holders of Common Stock a dividend or other distribution consisting exclusively of cash
(excluding any dividend or distribution made in connection with the liquidation, dissolution or
winding up of the Company, whether voluntary or involuntary), the Conversion Rate will be adjusted
based on the following formula:

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	SP0
	 	 	 	 	 
	 	 	 	 	SP0 - C

     where

-54-

 

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Trading Day
immediately preceding the Ex-Dividend date for such dividend or distribution;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect on the Ex-Dividend Date for such dividend or
distribution;
	 
	 	 	 	 
	SP0

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock during
the 10 consecutive Trading Day period ending on, and including, the Trading Day
immediately preceding the Ex-Dividend Date for such dividend or distribution; and
	 
	 	 	 	 
	C   

	 	=
	 	the amount in cash per share of Common Stock the Company pays as a dividend
or otherwise distributes to holders of Common Stock.

     Any adjustment made pursuant to this Section 6.04(e) shall become effective immediately prior
to the Open of Business on the Ex-Dividend Date for such dividend or distribution. If any dividend
or distribution of the type described in this Section 6.04(e) is declared but not so paid or made,
the Conversion Rate shall be readjusted, effective as of the date the Company publicly announces
its decision not to pay such dividend or distribution, to the Conversion Rate that would then be in
effect if such dividend or distribution had not been declared.

          (f) In case of purchases of Common Stock pursuant to a tender offer or exchange offer made by
the Company or any Subsidiary of the Company for all or any portion of Common Stock, to the extent
that the Fair Market Value of cash and any other consideration included in the payment per share of
Common Stock exceeds the Last Reported Sale Price of the Common Stock on the Trading Day
immediately after the last date on which tenders or exchanges may be made pursuant to such tender
offer or exchange offer (the “Expiration Date”), as it may be amended, the Conversion Rate will be
adjusted based on the following formula:

	 	 	 	 	 	 	 	 	 

	CR1

	 	=
	 	CR0
	 	x
	 	AC + (SP1 x OS1)
	 	 	 	 	 
	 	 	 	 	SP1 x OS0

     where

	 	 	 	 	 

	CR0

	 	=
	 	the Conversion Rate in effect at the Close of Business on the Expiration
Date;
	 
	 	 	 	 
	CR1

	 	=
	 	the Conversion Rate in effect on the Trading Day immediately following the
Expiration Date;
	 
	 	 	 	 
	AC

	 	=
	 	the Fair Market Value (as determined by the Company’s Board of Directors),
on the Expiration Date, of the aggregate value of all cash and any other consideration
paid or payable for Common Stock validly tendered or exchanged and not withdrawn as of
the Expiration Date;
	 
	 	 	 	 
	OS0

	 	=
	 	the number of shares of Common Stock outstanding immediately before the
last time tenders or exchanges may be made pursuant to such tender offer or exchange
offer (the “Expiration Time”) (prior to giving effect to such tender or exchange
offer);

-55-

 

	 	 	 	 	 

	OS1

	 	=
	 	the number of shares of Common Stock outstanding immediately after the
Expiration Time (after giving effect solely to such tender or exchange offer); and
	 
	 	 	 	 
	SP1

	 	=
	 	the average of the Last Reported Sale Prices of the Common Stock during
the 10 consecutive Trading Day period commencing on, and including, the Trading Day
immediately after the Expiration Date.

     Any adjustment pursuant to this Section 6.04(f) shall become effective immediately prior to
the Open of Business on the 10th Trading Day from, and including, the Trading Day
immediately after the Expiration Date. In the event that the Company, or one of its Subsidiaries,
is obligated to purchase Common Stock pursuant to any such tender or exchange offer, but the
Company, or such Subsidiary, is permanently prevented by applicable law from effecting any such
purchases, or all such purchases are rescinded, then the Conversion Rate shall be readjusted to be
the Conversion Rate that would then be in effect if such tender or exchange offer had not been
made. Except as set forth in the preceding sentence, if the application of this Section 6.04(f) to
any tender offer or exchange offer would result in a decrease in the Conversion Rate, no adjustment
shall be made for such tender offer or exchange offer under this Section 6.04(f). If an adjustment
to the Conversion Rate is required pursuant to this Section 6.04(f) during any settlement period in
respect of Securities that have been tendered for conversion, then delivery of the related
conversion consideration will be delayed to the extent necessary in order to complete the
calculations provided for in this Section 6.04(f).

          (g) If the Company distributes to holders of Common Stock assets, including cash, Capital
Stock, evidences of indebtedness, securities or rights, warrants or options to purchase its
securities, other than with respect to a Public Spin-Off, as to which Sections 6.04(d) and 6.04(e)
apply, if the Fair Market Value of the assets, including cash, Capital Stock, evidences of
indebtedness, securities or rights, warrants or options so distributed applicable to one share of
Common Stock equals or exceeds the average of the Last Reported Sale Prices of the Common Stock
during the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the
Ex-Dividend Date for such distribution, rather than being entitled to an adjustment in the
Conversion Rate, the Holder of a Security will be entitled to receive upon conversion, in addition
to shares of Common Stock, and, if applicable, cash payable on conversion, the kind and amount of
assets, including cash, Capital Stock, evidences of indebtedness, securities or rights, warrants or
options to purchase the Company’s securities, as applicable, that such Holder would have received
if such Holder had converted such Security immediately prior to the record date for determining the
stockholders entitled to receive the distribution (without regard to any limitations on conversion
described in Section 6.16).

          (h) In addition to those Conversion Rate adjustments required by Section 6.04(a), 6.04(b),
6.04(c), 6.04(d), 6.04(e) and 6.04(f), to the extent permitted by applicable law and subject to the
applicable rules of The Nasdaq Stock Market or the applicable rules of any stock exchange on which
the Company’s Common Stock is listed at the relevant time, the Company from time to time may
increase the Conversion Rate by a specified amount for a period of at least 20 Business Days, if
the increase is irrevocable during the period and the Company’s Board of Directors shall have made
a determination that such increase would be in the interest of the Company, which determination
shall be conclusive. Whenever the Conversion Rate is increased pursuant to the preceding sentence,

-56-

 

the Company shall mail to Holders of Record of the Securities a notice of increase, which notice
will be given at least 15 calendar days prior to the effective date of any such increase, and such
notice shall state the increased Conversion Rate and the period during which it will be in effect.

     To the extent permitted by applicable law and subject to the applicable rules of The Nasdaq
Stock Market or the applicable rules of any stock exchange on which the Common Stock is listed at
the relevant time, the Company may also (but is not required to) to make such increases to the
Conversion Rate, in addition to those required by Section 6.04(a), 6.04(b), 6.04(c), 6.04(d),
6.04(e) and 6.04(f), as the Company’s Board of Directors deems advisable to avoid or diminish any
income tax to holders of Common Stock resulting from any dividend or distribution of Common Stock
(or rights to acquire Common Stock) or from any event treated as such for income tax purposes.

          (i) All calculations under this Article 6 shall be made by the Company and not by the Trustee
or Conversion Agent, and shall be made to the nearest one-ten thousandth (1/10,000th) of a share of
Common Stock. No adjustment need be made for rights to purchase Common Stock pursuant to a Company
plan for reinvestment of dividends or for any issuance of Common Stock or convertible or
exchangeable securities or, except as provided in this Section 6.04, rights to purchase Common
Stock or convertible or exchangeable securities.

          (j) Whenever the Conversion Rate is adjusted as herein provided, the Company will promptly
publicly announce through a reputable national newswire in the United States the relevant
information and make this information available on the Company Website. In addition, the Company
shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’
Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief
statement of the facts requiring such adjustment. Unless and until a Trust Officer of the Trustee
shall have received such Officers’ Certificate, the Trustee and the Conversion Agent (provided the
Conversion Agent is not the Company) shall not be deemed to have knowledge of any adjustment of the
Conversion Rate and may assume that the last Conversion Rate of which each had knowledge is still
in effect. Promptly after delivery of such certificate, the Company shall prepare a notice of such
adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which
each adjustment became effective and shall mail such notice of such adjustment of the Conversion
Rate to each Holder of each Security at its last address appearing on the list of Holders provided
for in Section 3.06, within 20 calendar days after execution thereof. Failure to deliver such
notice shall not affect the legality or validity of any such adjustment.

          (k) For purposes of this Section 6.04, the number of shares of Common Stock at any time
outstanding shall not include shares of Common Stock held in the treasury of the Company but shall
include shares of Common Stock issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. The Company will not pay any dividend or make any
distribution on Common Stock held in the treasury of the Company.

          (l) Notwithstanding any of the foregoing clauses in this Section 6.04, the applicable
Conversion Rate will not be adjusted pursuant to this Section 6.04 if the Holders of the Securities
are permitted to participate (as a result of holding the Securities and contemporaneously with
holders of Common Stock) in any of the transactions that would otherwise give rise to adjustment
pursuant to this Section 6.04 as if such Holders of the Securities held a number of shares of
Common Stock equal to (i)(A) the principal amount of Securities held by such Holder, divided by

-57-

 

(B)
1,000, multiplied by (ii) the Applicable Conversion Rate in effect five Business Days prior to
Ex-Dividend Date, Expiration Date or other effective date of the applicable transaction, without
having to convert their Securities (without regard to any limitations on conversion described in
Section 6.16).

          (m) The Company shall not take any voluntary action that would result in an increase to the
Conversion Rate of the Securities pursuant to this Section 6.04 without first complying, if
applicable, with the shareholder approval rules of The Nasdaq Stock Market (including Market
Rule 5635) or any stock exchange on which the Common Stock is listed at the relevant time.

     Section 6.05 Effect of Reclassification, Consolidation, Merger or Sale. If the Company:

          (a) reclassifies or changes the outstanding shares of Common Stock (other than a change in par
value, or as a result of a subdivision or combination), or

          (b) consolidates or merges with or into another Person, or sells, leases, transfers, conveys
or otherwise disposes of all or substantially all of the Company’s assets, including those of the
Company’s Subsidiaries taken as a whole, to any other Person or Persons,

and, in either case, holders of Common Stock receive stock, other securities or other property or
assets (including cash or any combination thereof) with respect to or in exchange for such Common
Stock, then the Company or the successor or purchasing corporation, as the case may be, shall
execute with the Trustee a supplemental indenture under Section 13.01 (which shall comply with the
Trust Indenture Act as in force at the date of execution of such supplemental indenture, if such
supplemental indenture is then required to so comply) providing that from and after the effective
date of such transaction each such Security shall, without the consent of any Holders of
Securities, become convertible into (including payments in shares of Common Stock made in respect
of the Coupon Make Whole Payments upon conversion described in Sections 6.07 and 6.10), in lieu of
the Common Stock otherwise deliverable, the same type (in the same proportion and without regard to
any limitations on conversion described in Section 6.16) of the consideration received by the
holders of Common Stock in such reclassification, change, consolidation, merger, sale, lease,
transfer, conveyance or other disposition (such consideration, the “Reference Property”).
Appropriate provisions will be made, as determined in good faith by the Company’s Board of
Directors, to preserve the value, and give effect to the intent of, the Coupon Make Whole Payment
provisions set forth in Sections 6.07 and 6.10 following such transaction and without regard to any
limitations on conversion described in Section 6.16. If such transaction causes Common Stock to be
converted into the right to receive more than a single type of consideration (determined based in
part upon any form of stockholder election), the Reference Property into which Securities will
become convertible (including payment in shares of Common Stock made with respect to Coupon Make
Whole Payments upon conversion) shall be deemed to be the kind and amount of consideration elected
to be received by a majority of shares of Common Stock voting for such an election (if electing
between two types of consideration) or a plurality of shares of Common Stock voting for such an
election (if electing between more than two types of consideration), as the case may be, and
without regard to any limitations on conversion described in Section 6.16 . The occurrence of an
event described in clause (a) or (b) of the first sentence of this Section 6.05 that results in an
adjustment to the consideration into which the Securities become convertible pursuant to the terms
of this Section 6.05

-58-

 

shall not result in an adjustment to the Conversion Rate pursuant to
Section 6.04. The Company may not become a party to any such transaction unless its terms are
consistent with the foregoing in all material respects. Such supplemental indenture shall provide
for adjustments that shall be as nearly equivalent as may be practicable to the adjustments
provided for in this Article 6, as determined in good faith by the Company or successor or
purchasing corporation. The amount of cash and any Reference Property a Holder receives upon
conversion will be based on the conversion value of the Reference Property and the Applicable
Conversion Rate, as described above.

     If, in the case of any such reclassification, change, consolidation, merger, sale, lease,
transfer, conveyance or other disposition, the stock or other securities and assets received
thereupon by a holder of Common Stock includes shares of stock or other securities and assets of a
corporation other than the successor or purchasing corporation, as the case may be, in such
reclassification, change, consolidation, merger, sale, lease, transfer, conveyance or other
disposition, then such supplemental indenture shall also be executed by such other corporation and
shall contain such additional provisions to protect the interests of the Holders of the Securities
as the Company’s Board of Directors shall reasonably consider necessary by reason of the foregoing,
including to the extent practicable the provisions providing for the conversion rights set forth in
this Article 6.

     The Company shall cause notice of the execution of such supplemental indenture to be mailed or
delivered to each Holder, at the address of such Holder as it appears on the register of the
Securities maintained by the Registrar, within 20 calendar days after execution thereof.
Simultaneously with providing such notice, the Company shall announce through a reputable national
newswire in the United States the relevant information and make this information available on the
Company Website. Failure to deliver such notice shall not affect the legality or validity of such
supplemental indenture.

     The above provisions of this Section 6.05 shall similarly apply to successive
reclassifications, changes, consolidations, mergers, sales, leases, transfers, conveyances or other
dispositions.

     Section 6.06 Adjustments of Prices. Whenever any provision of this Indenture requires the
Company to calculate an average of the Last Reported Sale Prices over multiple days, the Company
will make appropriate adjustments to account for any adjustment to the Conversion Rate that becomes
effective, or any event requiring an adjustment to the Conversion Rate occurs, at any time during
the period from which the average is to be calculated. In addition, if during a period applicable
for calculating the VWAP or the Last Reported Sale Price of the Common Stock an event occurs that
requires an adjustment to the Conversion Rate, the VWAP or the Last Reported Sale Price of the
Common Stock shall be calculated for such period in a manner determined in good faith by the
Company to appropriately reflect the impact of such event on the price of Common Stock during such
period.

     Section 6.07 Coupon Make Whole Payment in Connection with a Voluntary Conversion.

          (a) If a Holder elects to convert all or a portion of its Securities on or prior to April 15,
2015, such Holder will receive, in addition to the consideration received pursuant to Section 6.03,
an additional payment (the “Coupon Make Whole Payment”) with respect to the Securities converted in
an amount equal to the aggregate amount of interest payments that would have been payable on such
converted Securities from the last day through which interest was paid on

-59-

 

such converted
Securities, or the Issue Date if no interest has been paid, to and including April 15, 2015;
provided that if the Conversion Date falls after any Regular Record Date and on or prior to the
Interest Payment Date to which it relates, the amount of the Coupon Make Whole Payment will be
reduced by the amount of interest payable on such Interest Payment Date to the Holder of record of
the converted Securities at the Close of Business on such Regular Record Date.

     The Coupon Make Whole Payment shall be calculated in accordance with the foregoing as
determined in good faith by the Company. Prior to or concurrently with such payment, the Company
will provide the Trustee with an Officers’ Certificate setting forth the calculation of the payment
required by this Section 6.07. The Trustee shall have no obligation or liability with respect to
the calculation of the payments required by this Section 6.07.

          (b) The Coupon Make Whole Payment payable in connection with a voluntary conversion will
initially be paid in shares of Common Stock valued at a price per share equal to 90% of the lesser
of (i) the average of the daily VWAP for the 10 Trading Days ending on and including the Trading
Day prior to the Conversion Date and (ii) the daily VWAP on the Trading Day prior to the Conversion
Date (the “Trailing Pricing Mechanism”). Notwithstanding the foregoing, in no event will the per
share value used to calculate the number of shares issuable in connection with the Coupon Make
Whole Payment be less than $3.00, subject to a proportionate inverse adjustment in the event of any
adjustment to the Conversion Rate pursuant to Section 6.04.

          (c) The Company may, at its option, elect to pay the Coupon Make Whole Payment payable in
connection with a voluntary conversion in cash or, following any such election to pay in cash, in
shares of Common Stock by delivering a notice to Holders that shall state that the Company intends
to pay the Coupon Make Whole Payment in cash or in shares of Common Stock in accordance with
Section 6.07(b), as the case may be. Such election shall be subject to 11 Trading Days having
elapsed following notice of any election to pay in cash, or following any such cash election,
notice of any election to pay in shares of Common Stock.

          (d) [Notwithstanding anything to the contrary contained herein, upon any voluntary conversion
the Company will only pay the Coupon Make Whole Payment in shares of Common Stock to the extent
that, at the time of such conversion, it has a sufficient number of authorized and unissued shares
that have not been reserved for other purposes to satisfy the Coupon Make Whole Payment in full.
If the Company does not then have a sufficient number of such shares, the Company will pay the
Coupon Make Whole Payment in cash.]

     Section 6.08 Taxes on Shares Issued. Any issue of share certificates on conversions of
Securities shall be made without charge to the converting Holder for any documentary, transfer,
stamp or any similar tax in respect of the issue thereof, and the Company shall pay any and all
documentary, stamp or similar issue or transfer taxes that may be payable in respect of the issue
or delivery of shares of Common Stock on conversion of Securities pursuant hereto. The Company
shall not, however, be required to pay any such tax which may be payable in respect of any transfer

 

			
	10	 	This portion is to be included only if stockholder approval to increase the
Company’s authorized shares of Common Stock is not obtained.

-60-

 

involved in the issue and delivery of shares in any name other than that of the Holder of any
Securities converted, and the Company shall not be required to issue or deliver any such share
certificate unless and until the person or persons requesting the issue thereof shall have paid to
the Company the amount of such tax or shall have established to the satisfaction of the Company
that such tax has been paid. The Company shall pay any other costs or expenses incurred in
connection with the issuance and delivery of any Common Stock upon conversion.

Section 6.09 Conversion at the Option of the Company

          (a) Generally. The Company may elect to mandatorily convert the Securities in whole or in
part (a “Mandatory Conversion”) at any time on or prior to the Maturity Date if the Last Reported
Sale Price of the Common Stock is greater than or equal to 150% of the Applicable Conversion Price
for at least 20 Trading Days during any 30 consecutive Trading Day period ending within five
Trading Days prior to the Company Conversion Notice (as defined below).

     The Company will make appropriate adjustments determined by the Company or its agents to
account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an
adjustment to the Conversion Rate occurs, at any time during the period from which the average of
such Last Reported Sale Prices is to be calculated.

     In the event the Company elects to mandatorily convert less than all of the outstanding
Securities, the Trustee will (subject to the applicable procedures of the Depositary) select or
cause to be selected the Securities or portions thereof to be converted (in principal amounts of
$1,000 or an integral multiple of $1,000) by lot, on a pro rata basis or by any other method the
Trustee considers fair and appropriate.

     The Securities converted pursuant to such election will be converted automatically, with no
further action by the Holders thereof, on the Mandatory Conversion Date specified in the Company
Conversion Notice. The Company will cause the settlement of the Mandatory Conversion to occur
(including payment of the Coupon Make Whole Payment, if any, and any interest payable upon
conversion) on the Mandatory Conversion Date.

          (b) Delivery of Company Conversion Notice. If the Company elects to mandatorily convert the
Securities pursuant to Section 6.09(a), then on or before the 5th Trading Day following
the 30 consecutive Trading Day period described in Section 6.09(a) above, the Company shall deliver
or cause to be delivered to all Holders of record of the Securities at their addresses shown in the
Security Register a written notice containing the information set forth in Section 6.09(c) (the
“Company Conversion Notice”) with respect to the Mandatory Conversion. The Company shall also
deliver a copy of the Company Conversion Notice to the Trustee, the Conversion Agent and the Paying
Agent at such time as it is mailed to Holders of Securities. Simultaneously with providing such
Company Conversion Notice, the Company shall promptly publicly announce the relevant information
through a reputable national newswire in the United States and make such information available on
the Company Website.

          (c) Company Conversion Notice. In connection with any Mandatory Conversion of Securities, the
Company Conversion Notice shall:

-61-

 

               (i) state the conversion date for such Mandatory Conversion, which shall not be less than 20
nor more than 30 calendar days following the date of the Company Conversion Notice (the “Mandatory
Conversion Date”);

               (ii) state the Applicable Conversion Rate in effect on the date of the Company Conversion
Notice;

               (iii) state the aggregate principal amount of Securities to be mandatorily converted;

               (iv) if fewer than all of the outstanding Securities are to be mandatorily converted, state
that the Securities shall be automatically reduced to the principal amount equal to the unconverted
portion thereof and appropriate notation of such action shall be made by the Trustee and Security
Registrar upon such Securities; and

               (v) state whether the Company will pay the Coupon Make Whole Payment payable in accordance
with Section 6.10 below, if any, in cash or in shares of Common Stock.

     A Company Conversion Notice may be given by the Company or, at the Company’s request, the
Trustee shall give such Company Conversion Notice in the Company’s name and at the Company’s
expense; provided that the text of the Company Conversion Notice shall be prepared by the Company.

          (d) Securities Converted in Whole or in Part. In the event the Company elects to mandatorily
convert less than all of the outstanding Securities, the Securities shall be automatically reduced
to the principal amount equal to the unconverted portion thereof and appropriate notation of such
action shall be made by the Trustee and Security Registrar upon such Securities; provided that in
no event shall a Security of a principal amount of $1,000 or less be converted in part. If upon a
Mandatory Conversion, a Holder of any Security converted in part surrenders at the office of the
Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing) such Security, then the
Company shall execute and the Trustee shall authenticate and deliver to the Holder of such
Security, without service charge, a new Security or Securities of any authorized denomination as
requested by such Holder in aggregate principal amount equal to, and in exchange for, the
unconverted portion of the Security so surrendered.

     Upon conversion, interest on the Securities or portion of Securities so called for Mandatory
Conversion shall cease to accrue and the Holders thereof shall have no right in respect of such
Securities except the right to receive the shares of Common Stock to which they are entitled
pursuant to this Section 6.09 (including shares in respect of the Coupon Make Whole Payment
pursuant to Section 6.10, if any) and cash payments in lieu of fractional shares and in respect of
the Coupon Make Whole Payment pursuant to Section 6.10, if any, and accrued and unpaid interest
pursuant to Section 6.03.

     Section 6.10 Coupon Make Whole Payment in Connection with Conversion at the Option of the
Company.

-62-

 

          (a) If the Company elects to convert some or all of the Securities on or prior to April 15,
2015, pursuant to Section 6.09, Holders will receive a Coupon Make Whole Payment with respect to
the Securities being converted equal to the aggregate amount of interest payments that would have
been payable on such converted Securities from the last day through which interest was paid on such
converted Securities, or the Issue Date if no interest has been paid, to and including April 15,
2015; provided, however, that if the Mandatory Conversion Date falls after any Regular Record Date
and on or prior to the Interest Payment Date to which it relates, the amount of the Coupon Make
Whole Payment will be reduced by the amount of interest payable on such Interest Payment Date to
the Holders of record of the converted Securities at the Close of Business on such Regular Record
Date.

     The Coupon Make Whole Payment shall be calculated in accordance with the foregoing as
determined in good faith by the Company. Prior to or concurrently with such payment, the Company
will provide the Trustee with an Officers’ Certificate setting forth the calculation of the payment
required by this Section 6.10. The Trustee shall have no obligation or liability with respect to
the calculation of the payments required by this Section 6.10.

          (b) The Coupon Make Whole Payment payable in connection with a Mandatory Conversion will
initially be paid in shares of Common Stock valued at a price per share equal to the average of the
daily VWAP for the 10 Trading Days beginning two Trading Days following the date of the Company
Conversion Notice (the “Subsequent Pricing Mechanism”). Notwithstanding the foregoing, in no event
will the per share value used to calculate the number of shares issuable in connection with the
Coupon Make Whole Payment be less than $3.00, subject to a proportionate inverse adjustment in the
event of any adjustment to the Conversion Rate pursuant to Section 6.04.

          (c) The Company may, at its option, elect to pay the Coupon Make Whole Payment payable in
connection with a Mandatory Conversion in cash by delivering notice of such election in the Company
Conversion Notice.

          (d) [Notwithstanding anything to the contrary contained herein, upon any Mandatory Conversion
the Company will only pay the Coupon Make Whole Payment in shares of Common Stock to the extent
that, at the time of such conversion, it has a sufficient number of authorized and unissued shares
that have not been reserved for other purposes to satisfy the Coupon Make Whole Payment with
respect to such Mandatory Conversion in full. If the Company does not then have a sufficient
number of such shares, the Company will pay the Coupon Make Whole Payment in cash.]

     Section 6.11 Reservation of Shares; Shares to be Fully Paid; Compliance with Governmental
Requirements. The Company shall at all times maintain out of its authorized but unissued shares of
Common Stock enough shares to permit the issuance of shares of Common Stock upon the conversion, in
accordance herewith (without regard to any limitations on conversion described in Section 6.16), of
all of the Securities, including any shares issuable in payment of the

 

			
	11	 	This portion is to be included only if stockholder approval to increase
the Company’s authorized shares of Common Stock is not obtained.

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Coupon Make Whole Payments
[but subject, in the case of shares issuable in respect of the Coupon Make Whole Payments, to
Section 6.07(d) and Section 6.10(d). If at any time the Company does not have a sufficient number
of authorized and unissued shares that have not been reserved for other purposes to satisfy the
Coupon Make Whole Payment payable upon conversions, the Company shall provide prompt notice of such
insufficiency to the Holders of Securities, the Trustee, the Conversion Agent and the Paying Agent.
Simultaneous with such notice, the Company shall publicly announce the relevant information
through a reputable national newswire in the United States and make such information available on
the Company Website]12. The shares of Common Stock due upon conversion of a Global Security shall be
delivered by the Company in accordance with the Depositary’s customary practices, except under the
limited circumstances provided in Section 3.09(b). All shares of Common Stock which may be issued
upon conversion of the Securities shall be validly issued, fully paid and non-assessable and shall
be free of preemptive or similar rights and free from all liens, taxes, charges or adverse changes.

     Before taking any action that would cause an adjustment increasing the Conversion Rate to an
amount that would cause the Conversion Price to be reduced below the then par value, if any, of the
shares of Common Stock issuable upon conversion of the Securities, the Company will take all
corporate action which may, in the opinion of its counsel, be necessary in order that the Company
may validly and legally issue shares of such Common Stock at such adjusted Conversion Price.

     The Company covenants to take all such actions as may be required for the payment in
accordance herewith of shares of Common Stock, if any, deliverable upon the conversion of any
Securities, including any shares issuable in payment of the Coupon Make Whole Payments, including
the acceptance of such shares of Common Stock into the book-entry system maintained by the
Depositary. Without limiting the generality of the foregoing, the Company further covenants that,
(i) if any shares of Common Stock to be provided for the purpose of conversion of Securities
hereunder, including any shares issuable in payment of the Coupon Make Whole Payments, require
registration with or approval of any governmental authority under any federal or state law before
such shares may be validly issued upon conversion, the Company will in good faith and as
expeditiously as possible, to the extent then permitted by the rules and interpretations of the
Commission (or any successor thereto), endeavor to secure such registration or approval, as the
case may be and (ii) if at any time Common Stock shall be listed on any national securities
exchange or automated quotation system, the Company will, if permitted by the rules of such
exchange or automated quotation system, list and keep listed, so long as Common Stock shall be so
listed on such exchange or automated quotation system, all shares of Common Stock issuable upon
conversion of the Securities, including any shares issuable in payment of the Coupon Make Whole
Payments; provided that if the rules of such exchange or automated quotation system permit the
Company to defer the listing of such shares of Common Stock until the first conversion of the
Securities into Common Stock in accordance with the provisions of this Indenture, the Company
covenants to list such shares of Common Stock issuable upon conversion of the Securities, including
any shares issuable in payment of the Coupon Make Whole Payments, in accordance with the
requirements of such exchange or automated quotation system at such time.

 

			
	12	 	This portion is to be included only if stockholder approval to increase the
Company’s authorized shares of Common Stock is not obtained.

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     Section 6.12 Responsibility of Trustee. The Trustee and any other Conversion Agent shall not
at any time be under any duty or responsibility to any Holder to determine the Conversion Rate or
whether any facts exist which may require any adjustment of the Conversion Rate, or with respect to
the nature or extent or calculation of any such adjustment when made, or with respect to the method
employed, or herein or in any supplemental indenture provided to be employed, in making the same.
The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or
value (or the kind or amount) of any Common Stock, or of any securities or property, which may at
any time be issued or delivered upon the conversion of any Securities; and the Trustee and any
other Conversion Agent make no representations with respect thereto. Neither the Trustee nor any
Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver
any shares of Common Stock or share certificates or other securities or property or cash upon the
surrender of any Securities for the purpose of conversion, or upon any automatic conversion in the
event of a Mandatory Conversion, or to comply with any of the duties, responsibilities or covenants
of the Company contained in this Article 6. Without limiting the generality of the foregoing,
neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the
correctness of any provisions contained in any supplemental indenture entered into pursuant to
Section 6.05 relating either to the kind or amount of shares of stock or securities or property
(including cash) receivable by Holders upon the conversion of their Securities after any event
referred to in such Section 6.05 or to any adjustment to be made with respect thereto, but, subject
to the provisions of Section 10.01, may accept as conclusive evidence of the correctness of any
such provisions, and shall be protected in relying upon, the Officers’ Certificate (which the
Company shall be obligated to file with the Trustee prior to the execution of any such supplemental
indenture) with respect thereto.

     Section 6.13 Notice to Holders Prior to Certain Actions. In case:

          (a) the Company shall pay a dividend (or any other distribution) on shares of Common Stock
that would require an adjustment in the Conversion Rate pursuant to Section 6.04; or

          (b) the Company shall issue rights or warrants to the holders of all or substantially all of
the shares of Common Stock to subscribe for or purchase any shares of any class of Capital Stock or
any other rights or warrants; or

          (c) of any reclassification or change of the outstanding shares of Common Stock (other than
change in par value, or from par value to no par value, or from no par value to par value, or as a
result of a subdivision or combination), or of any consolidation or merger of the Company with or
into another Person, or any sale, lease, transfer, conveyance or other disposition of all or
substantially all of the Company’s assets and those of the Company’s Subsidiaries taken as a whole
to any other Person or Persons; or

          (d) liquidation, dissolution or winding up of the Company, whether voluntary or involuntary;

then, in each case, the Company shall cause to be filed with the Trustee and the Conversion Agent
and to be mailed to each Holder at such Holder’s address appearing on the list of Holders provided
for in Section 3.06 of this Indenture, as promptly as practicable but in any event at least 30 days
prior to the applicable date hereinafter specified, a notice stating (x) the date on which a record
is to

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be taken for the purpose of such dividend or distribution of Common Stock rights, warrants,
cash or other assets, evidences of indebtedness, securities or rights to purchase the Company’s
securities, or, if a record is not to be taken, the date as of which the holders of Common Stock of
record to be entitled to such dividend, distribution or rights are to be determined, or (y) the
date on which such reclassification, change, consolidation, merger, sale, lease, transfer,
conveyance or other disposition or liquidation, dissolution or winding up is expected to become
effective or occur, and the date as of which it is expected that holders of Common Stock of record
shall be entitled to exchange their shares of Common Stock for securities or other property
deliverable upon such reclassification, consolidation, merger, sale, transfer, dissolution,
liquidation or winding up. Failure to give such notice, or any defect therein, shall not affect the
legality or validity of such dividend, distribution, reclassification, consolidation, merger, sale,
transfer, dissolution, liquidation or winding up.

     Section 6.14 Stockholder Rights Plan. If the Company has a stockholder rights plan relating
to Common Stock in effect upon conversion of the Securities, Holders will receive upon conversion
of Securities, in addition to such Common Stock, rights under the Company’s stockholder rights
plan, unless prior to such conversion, the rights have separated from the Common Stock, in which
case the Conversion Rate will be adjusted at the time of separation as if the Company distributed
to all or substantially all holders of Common Stock, shares of Capital Stock, evidences of
indebtedness or assets as described in Section 6.04(d) above (with such separation being deemed the
occurrence of a Trigger Event for purposes of Section 6.04(d)). For purposes of calculating the
per share fair market value of the shares of the Company’s Capital Stock, evidences of the
Company’s indebtedness or assets, including securities, distributed with respect to each
outstanding share of Common Stock under Section 6.04(d), any shares of Common Stock held by any
Person who is ineligible to receive such distribution under the terms of the rights plan shall not
be deemed outstanding. The Company agrees that any rights plan adopted by the Company shall
provide for the foregoing rights upon conversion of the Securities. Any distribution of rights or
warrants pursuant to a rights plan that would allow a Holder to receive upon conversion, in
addition to shares of Common Stock, the rights described therein with respect to such shares of
Common Stock (unless such rights or warrants have separated from the Common Stock) shall not
constitute a distribution of rights or warrants that would entitle such Holder to an adjustment to
the Conversion Rate.

     Section 6.15 Company Determination Final. Any determination that the Company or its Board of
Directors must make pursuant to this Article 6 shall be conclusive if made in good faith and in
accordance with the provisions of this Article 6, absent manifest error, and set forth in a Board
Resolution.

     Section 6.16 Limitations on Conversion. The Company will not effect any conversion of the
Securities (including any Mandatory Conversion pursuant to Section 6.09), and Holders of the
Securities will not have the right to convert any portion of the Securities pursuant to Article 6,
to the extent that, after giving effect to such conversion, a Holder (together with such Holder’s
Affiliates) would beneficially own in excess of 9.9% (the “Maximum Percentage”) of the number of
shares of Common Stock outstanding immediately after giving effect to such conversion. For
purposes of determining the Maximum Percentage, the number of shares of Common Stock beneficially
owned by a Holder and its Affiliates will include the number of shares of Common Stock issuable
upon conversion of the Securities with respect to which such determination is being made, but will
exclude the number of shares of Common Stock which would be issuable upon (1) conversion of the

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remaining, unconverted portion of the Securities beneficially owned by such Holder or any of its
Affiliates and (2) exercise, conversion or exchange of the unexercised, unconverted or unexchanged
portion of any other securities of the Company (including, without limitation, any 2020 Notes or
warrants) subject to a limitation on conversion, exercise or exchange analogous to the limitation
contained in this Section 6.16 beneficially owned by such Holder or any of its Affiliates. Except
as set forth in the preceding sentence, for purposes of this Section 6.16, beneficial ownership
will be calculated in accordance with Section 13(d) of the Exchange Act. For purposes of this
Section 6.16, in determining the number of outstanding shares of Common Stock, a Holder may rely on
the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent
document or report, as the case may be, filed by the Company with the Commission, (y) a more recent
public announcement by the Company or (z) any other recent notice by the Company, in each case
setting forth the number of shares of Common Stock outstanding. Upon the written request of a
Holder, the Company will within two Business Days confirm in writing to such Holder the number of
shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common
Stock will be determined after giving effect to the conversion or exercise of securities of the
Company, including the Securities, by a Holder or its Affiliates since the date as of which such
number of outstanding shares of Common Stock was reported or announced.

ARTICLE 7

REDEMPTION

     Section 7.01 Optional Redemption.

          (a) The Securities are not redeemable by the Company prior to April 15, 2015. At any time on
or after April 15, 2015, the Company has the right, at its option, to redeem the Securities in
whole or in part.

          (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall
be payable in cash and shall be equal to 100% of the principal amount of the Securities to be
redeemed, together with accrued and unpaid interest (including Additional Interest, if any), on the
principal amount of the Securities redeemed, to but excluding the Redemption Date; provided that if
the Redemption Date falls after a Regular Record Date and on or prior to the Interest Payment Date
to which it relates, the Company will pay the full amount of accrued and unpaid interest (including
Additional Interest, if any), due on such Interest Payment Date to the Holder of record at the
Close of Business on such Regular Record Date and not to the Holder submitting the Securities for
redemption, if different.

     Section 7.02 Selection of Securities to be Redeemed. If fewer than all of the Securities are
to be redeemed, the Trustee shall select the Securities to be redeemed (in principal amounts of
$1,000 or an integral multiple of $1,000) by lot, on a pro rata basis or by any other method the
Trustee considers fair and appropriate. The Trustee shall make the selection within seven calendar
days from its receipt of the Redemption Notice from outstanding Securities not previously called
for redemption. The Trustee shall notify the Company promptly of the Securities or portion of
Securities to be redeemed. Portions of this Indenture that apply to Securities called for
redemption in whole also apply to Securities called for redemption in part.

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     If a portion of a Holder’s Security is selected for partial redemption and the Holder
converts a portion of its Security after the Redemption Notice is given and prior to the Redemption
Date, the converted portion will be deemed to be from the portion selected for redemption.
Securities which have been converted during a selection of Securities to be redeemed may be treated
by the Trustee as outstanding for the purpose of such selection.

     Section 7.03 Delivery of Redemption Notice. At least 20 calendar days but not more than 60 calendar days
before a Redemption Date, the Company shall provide or cause to be provided to all Holders of
record of the Securities to be redeemed at their addresses shown in the Security Register a written
notice containing the information set forth in Section 7.04 (a “Redemption Notice”) with respect to
the redemption. The Company shall also deliver a copy of the Redemption Notice to the Trustee and
the Paying Agent at such time as it is mailed to Holders of Securities. Simultaneously with
providing such Redemption Notice, the Company shall promptly publicly announce the relevant
information through a reputable national newswire in the United States and make such information
available on the Company Website.

     Section 7.04 Redemption Notice. In connection with any redemption of Securities pursuant to Section 7.01,
the Redemption Notice shall specify the Securities to be redeemed and shall state:

          (a) the Redemption Date;

          (b) the Redemption Price;

          (c) the Applicable Conversion Rate;

          (d) the name and address of the Paying Agent and Conversion Agent;

          (e) that Securities called for redemption may be converted at any time before the Closing of
Business on the Business Day immediately preceding the Redemption Date;

          (f) that Holders who want to convert Securities must satisfy the requirements set forth
therein and in this Indenture;

          (g) that Securities called for redemption must be surrendered to the Paying Agent for
cancellation to collect the Redemption Price;

          (h) the aggregate principal amount of Securities to be redeemed; and

          (i) if any Security is to be redeemed in part only, upon surrender of such Security, a new
Security or Securities in principal amount equal to the unredeemed portion thereof will be issued.

     A Redemption Notice may be given by the Company or, at the Company’s request, the Trustee
shall give such Redemption Notice in the Company’s name and at the Company’s expense; provided that
the text of the Redemption Notice shall be prepared by the Company.

     In connection with any redemption pursuant to Section 7.01, the Company will, to the extent
required, (i) comply with the provisions of Rule 13e-4, Rule 14e-1 (or any successor provision) and

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any other tender offer rules under the Exchange Act that may be applicable at the time of the
purchase of the Securities, (ii) file the related Schedule TO (or any successor schedule, form or
report) or any other schedule required in connection with any offer by the Company to purchase the
Securities under the Exchange Act and (iii) otherwise comply with all federal and state securities
laws so as to permit the rights and obligations under Section 7.01 to be exercised in the time and
in the manner specified in Section 7.01.

     Section 7.05 Effect of Redemption Notice. Once a Redemption Notice is given, Securities called for
redemption become due and payable on the Redemption Date and at the Redemption Price stated in the
Redemption Notice except for Securities that are converted in accordance with the terms of this
Indenture. Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption
Price stated in the Redemption Notice. A Holder’s conversion rights on Securities called for
redemption will expire at the Close of Business on the Business Day immediately preceding the
Redemption Date, unless the Company defaults in payment of the Redemption Price.

     Section 7.06 Deposit of Redemption Price. No later than 10:00 a.m., New York City time, on the Redemption
Date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary or an
Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as
provided herein) an amount of money (in immediately available funds if deposited on such Redemption
Date) sufficient to pay the Redemption Price of all the Securities or portions thereof that are to
be redeemed as of the Redemption Date. The Company shall promptly notify the Trustee in writing of
the amount of any deposits of cash made pursuant to this Section 7.06.

     If on the Redemption Date the Paying Agent holds money sufficient to pay the Redemption Price
of the Securities to be redeemed in accordance with Section 7.01, then, as of the Redemption Date,
(a) such Securities will cease to be outstanding and interest, including Additional Interest if
any, will cease to accrue thereon and (b) all other rights of the Holder in respect thereof will
terminate (other than the right to receive the Redemption Price). This will be the case whether or
not book-entry transfer of the Securities has been made or the Securities have been delivered to
the Paying Agent.

     Section 7.07 Securities Redeemed in Whole or in Part. Any Security that is to be redeemed, whether in
whole or in part, shall be surrendered at the office of the Paying Agent (with, if the Company or
the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing) and the Company shall
execute and the Trustee shall authenticate and deliver to the Holder of such Security, without
service charge, a new Security or Securities, of any authorized denomination as requested by such
Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal
amount of the Security so surrendered which is not redeemed; provided that in no event shall a
Security of a principal amount of $1,000 or less be redeemed in part.

     In the event of a redemption in part, the Company will not be required to (i) issue, register
the transfer of or exchange any Security during a period of 15 calendar days before the mailing of
the Redemption Notice; or (ii) register the transfer of or exchange any Security so selected for
redemption, in whole or in part, except the unredeemed portion of any Security being redeemed in
part.

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ARTICLE 8

EVENTS OF DEFAULT; REMEDIES

     Section 8.01 Events of Default. “Event of Default,” wherever used herein, means any one of the following
events (whatever the reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any
court or any order, rule or regulation of any administrative or governmental body):

          (a) default in any payment of interest (including Additional Interest, if any) on any Security
when due and payable and such default continues for a period of 30 calendar days;

          (b) default in the payment of the principal amount of any Security or any Fundamental Change
Purchase Price or Redemption Price, when due and payable at the Maturity Date, upon declaration or
otherwise;

          (c) failure by the Company to comply with its obligation to convert the Securities in
accordance with this Indenture upon exercise of a Holder’s conversion right herein and such failure
continues for a period of five calendar days;

          (d) default in the payment of the Coupon Make Whole Payment in accordance with Sections 6.07
and 6.10, as applicable, when due and payable upon conversion and such default continues for a
period of 30 calendar days;

          (e) failure by the Company to issue a Fundamental Change Notice to Holders in accordance with
the terms of this Indenture and such failure continues for a period of five calendar days;

          (f) failure by the Company to comply with its obligations under Article 9 hereof;

          (g) failure by the Company to comply with any other covenant or agreement in the Securities or
in this Indenture other than those referred to in other clauses of this Section 8.01,
and such default continues for a period of 60 calendar days after receipt by the Company of a
Notice of Default;

          (h) failure by the Company or any Significant Subsidiary of the Company to make any payment of
the principal or interest on any mortgage, agreement or other instrument under which there may be
outstanding, or by which there may be secured or evidenced, any debt for money borrowed in excess
of $10,000,000 (or its equivalent in any other currency or currencies) in the aggregate of the
Company and/or any Significant Subsidiary of the Company, whether such debt now exists or shall
hereafter be created, resulting in such debt becoming or being declared due and payable, and such
acceleration shall not have been rescinded or annulled within 30 calendar days after written notice
of such acceleration has been received by the Company and/or any Significant Subsidiary of the
Company;

          (i) the commencement by the Company or by a Significant Subsidiary of the Company of a
voluntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt
or insolvent, or the consent by it to the entry of a decree or order for relief in

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respect of the
Company or of a Significant Subsidiary of the Company in an involuntary case or proceeding under
any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other similar
law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable federal, state or foreign law, or the consent by it to the filing of such petition or to
the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of the Company or of a Significant Subsidiary of the Company
or of any substantial part of its property, or the making by it of an assignment for the benefit of
creditors, or the admission by it in writing of its inability to pay its debts generally as they
become due, or the taking of corporate action by the Company or by a Significant Subsidiary of the
Company in furtherance of any such action; or

          (j) the entry by a court having jurisdiction in the premises of (i) a decree or order for
relief in respect of the Company or any Significant Subsidiary of the Company in an involuntary
case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency,
reorganization or other similar law, (ii) a decree or order adjudging the Company or a Significant
Subsidiary of the Company as bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or
any Significant Subsidiary of the Company under any applicable federal, state or foreign law or
(iii) appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Company or any Significant Subsidiary of the Company of any substantial
part of its property, or ordering the winding up or liquidation of its affairs, and the continuance
of any such decree or order for relief or any such other decree or order unstayed and in effect for
a period of 90 consecutive days.

     Notwithstanding anything in this Indenture to the contrary, if in connection with purchases
made pursuant to Section 5.01 or redemptions made pursuant to Section 7.01, the Company is required
to comply with Rule 13e-4, Rule 14e-1 and/or any other tender offer rule under the
Exchange Act or applicable state securities laws and such compliance contravenes the terms of
this Indenture or the Securities, such compliance will not, standing alone, constitute an Event of
Default.

     The Trustee shall not be charged with knowledge of any Event of Default unless written notice
thereof shall have be given to a Trust Officer at the Corporate Trust Office of the Trustee by the
Company’s Paying Agent or any Holder.

     Section 8.02 Acceleration of Maturity; Waiver of Past Defaults and Rescission.

          (a) If an Event of Default (other than those specified in Section 8.01(i) and Section 8.01(j),
and as otherwise provided in Section 8.03) occurs and is continuing, then and in every such case
the Trustee by written notice to the Company, or the Holders of not less than 25% in aggregate
principal amount of the outstanding Securities by written notice to the Company or the Trustee,
may, and the Trustee at the request of such Holders shall, declare 100% of the principal amount
plus accrued and unpaid interest (including Additional Interest, if any) on all the outstanding
Securities to be due and payable, and upon any such declaration such principal amount plus accrued
and unpaid interest (including Additional Interest, if any) shall become immediately due and
payable.

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     Notwithstanding the foregoing, in the case of an Event of Default specified in Section 8.01(i)
or Section 8.01(j), 100% of the principal amount plus accrued and unpaid interest (including
Additional Interest, if any) on all outstanding Securities will automatically become immediately
due and payable without any declaration or other act on the part of the Trustee or any Holder.

          (b) The Holders of not less than a majority in aggregate principal amount of the outstanding
Securities, by written notice to the Company and the Trustee may (x) on behalf of the Holders of
the Securities, waive any past Default and its consequences and (y) at any time after a declaration
of acceleration has been made and before a judgment or decree for payment of the money due has been
obtained by the Trustee as hereinafter in this Article 7 provided, rescind any such acceleration
with respect to the Securities and its consequences, except, in each case, an uncured Default
described in Sections 8.01(a) or 8.01(b), or in respect of a covenant or provision hereof which
under Section 13.02 cannot be modified or amended without the consent of the Holder of each
outstanding Security affected, if:

               (i) such rescission will not conflict with any judgment or decree of a court of competent
jurisdiction; and

               (ii) all existing Events of Default, other than the non-payment of the principal amount plus
accrued and unpaid interest (including Additional Interest, if any) on Securities that have become
due solely by such declaration of acceleration, have been cured or waived.

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

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

     Section 8.03 Additional Interest. Notwithstanding anything to the contrary in this Indenture, if so
elected by the Company, the sole remedy for an Event of Default relating to the failure to comply
with Section 4.10 hereof (including reporting obligations that arise under Section 314(a)(1) of the
Trust Indenture Act) will (i) for the first 90 days after the occurrence of such an Event of
Default consist exclusively of the right to receive Additional Interest on the Securities at an
annual rate equal to 0.25% of the principal amount of the Securities and (ii) from the 91st day
until the 180th day following the occurrence of such an Event of Default consist exclusively of the
right to receive Additional Interest on the Securities at an annual rate equal to 0.50% of the
principal amount of the Securities. If the Company so elects, the Additional Interest payable
under this Section 8.03 will be payable on all outstanding Securities from and including the date
on which such Event of Default first occurs to, but excluding, the 180th day thereafter, or such
earlier date on which such Event of Default has been cured or waived or ceases to exist. On the
181st day after such Event of Default, if such Event of Default has not been cured or waived prior
to such 181st day, Additional Interest payable pursuant to this Section 8.03 will cease to accrue
and the Securities will be subject to acceleration as provided in Section 8.02. This Section 8.03
will not affect the rights of Holders of the Securities in the event of the occurrence of any other
Event of Default. In the event

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the Company does not elect to pay the Additional Interest payable
pursuant to this Section 8.03 upon an Event of Default in accordance with this paragraph, the
Securities will be subject to acceleration as provided in Section 8.02. Any Additional Interest
payable pursuant to this Section 8.03 will be payable at the same time, in the same manner and to
the same persons as ordinary interest is payable pursuant to the Securities.

     In order to elect to pay the Additional Interest payable pursuant to this Section 8.03 as the
sole remedy during the first 180 days after the occurrence of an Event of Default relating to the
failure to comply with Section 4.10 (including reporting obligations that arise under Section
314(a)(1) of the Trust Indenture Act) in accordance with the immediately preceding paragraph, the
Company must notify all Holders, the Trustee and Paying Agent of such election on or before the
Close of Business on the date on which such Event of Default first occurs. Upon the failure to
timely give such notice, the Securities will be immediately subject to acceleration as provided in
Section 8.02.

     Section 8.04 Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that
if a Default is made in the payment of the principal amount plus accrued and unpaid interest
(including Additional Interest, if any) at the Maturity Date thereof or in the payment of the
Fundamental Change Purchase Price or the Redemption Price in respect of any Security, the
Trustee may recover, in its own name, and as trustee of an express trust against the Company, and
the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities, and, in addition thereto,
such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel.

     If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated
to, pursue any available remedy to collect the payment of the principal amount plus accrued but
unpaid interest (including Additional Interest, if any) on the Securities or to enforce the
performance of any provision of the Securities or this Indenture. The Trustee may maintain a
proceeding even if the Trustee does not possess any of the Securities or does not produce any of
the Securities in the proceeding. A delay or omission by the Trustee or any Holder in exercising
any right or remedy accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of, or acquiescence in, the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative.

     Section 8.05 Trustee May File Proofs of Claim. In case of any judicial proceeding relative to the Company
(or any other obligor upon the Securities), its property or its creditors, the Trustee shall be
entitled and empowered, by intervention in such proceeding or otherwise, to take any and all
actions authorized under the Trust Indenture Act in order to have claims of the Holders and the
Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized to collect
and receive any moneys or other property payable or deliverable on any such claims and to
distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by each Holder to make
such payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses,

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disbursements and advances of the Trustee, its agents and counsel and any
other amounts due the Trustee under Section 10.07.

     No provision of this Indenture shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

     Section 8.06 Application of Money Collected. Any money collected by the Trustee pursuant to this Article
shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of
the distribution of such money to Holders, upon presentation of the Securities and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee under Section 10.07;

     SECOND: To the payment of the amounts then due and unpaid on the Securities for the principal
amount, interest (including Additional Interest, if any), Fundamental Change Purchase Price,
Redemption Price, cash in lieu of fractional shares and cash payments made in respect of the Coupon
Make Whole Payments, if any, as the case may be, in respect of which or for the benefit of which
such money has been collected, ratably, without preference or priority of any kind, according to
the amounts due and payable on such Securities; and

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

     Section 8.07 Limitation on Suits. Except to enforce rights in the case of an Event of Default specified in
Sections 8.01(a) or 8.01(b), no Holder of any Security shall have any right to institute any
proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a
receiver or trustee, or for any other remedy hereunder, unless:

               (i) such Holder has previously given written notice to the Trustee of an Event of Default that
is continuing;

               (ii) the Holder or Holders of not less than 25% in aggregate principal amount of the
outstanding Securities shall have made a written request to the Trustee to institute proceedings in
respect of such Event of Default in its own name as Trustee hereunder;

               (iii) such Holder or Holders have offered to the Trustee indemnity or security reasonably
satisfactory to it against any loss, liability or expense;

               (iv) the Trustee for 60 days after its receipt of such request and offer of indemnity or
security has failed to institute any such proceeding; and

               (v) no direction, in the opinion of the Trustee, inconsistent with such written request has
been given to the Trustee during such 60-day period by the Holders of a majority in aggregate
principal amount of the outstanding Securities;

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

     Section 8.08 Unconditional Right of Holders to Receive Payment. Notwithstanding any other provision of
this Indenture, the right of any Holder to receive payment of the principal amount, Fundamental
Change Purchase Price, Redemption Price or Coupon Make Whole Payments in respect of, or interest
(including Additional Interest, if any) on, the Securities held by such Holder, on or after the
respective due or payment dates expressed in the Securities, any Fundamental Change Purchase Date,
any Redemption Date or otherwise, as applicable, to convert the Securities in accordance with
Article 6, or to bring suit for the enforcement of any such payment on or after such respective
dates or the right to convert, is absolute and unconditional and shall not be impaired or affected
adversely without the consent of such Holder.

     Section 8.09 Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any
proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case,
subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be
restored severally and respectively to their former positions hereunder and thereafter all rights
and remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

     Section 8.10 Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section
3.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is
intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

     Section 8.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any
Security to exercise any right or remedy accruing upon any Event of Default shall impair any such
right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.
Every right and remedy given by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the
Holders, as the case may be.

     Section 8.12 Control by Holders. The Holders of not less than a majority in aggregate principal amount of
the outstanding Securities may direct the time, method and place of conducting any proceeding for
any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee.
However, if an Event of Default has occurred and is continuing, the Trustee will be required in the
exercise of its powers and rights vested in it by the Indenture to use the degree of care that a
prudent person would use in the conduct of its own affairs. Furthermore, the Trustee may refuse to
follow any direction that conflicts with applicable law or this Indenture or that the Trustee

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determines is unduly prejudicial to the rights of any other Holder or that would involve the
Trustee in personal liability unless the Trustee is offered indemnity or security reasonably
satisfactory to the Trustee in its sole discretion against any loss, liability or expense to the
Trustee to institute such proceeding as Trustee; provided that the Trustee may take any other
action deemed proper by the Trustee which is not inconsistent with such direction.

     Section 8.13 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, in
either case in respect of the Securities, a court may require any party litigant in such suit to
file an undertaking to pay the costs of the suit, and the court may assess reasonable costs,
including reasonable attorney’s fees and expenses, against any party litigant in the suit having
due regard to the merits and good faith of the claims or defenses made by the party litigant; but
the provisions of this Section 8.13 shall not apply to any suit instituted by the Company, to any
suit instituted by the Trustee, to any suit instituted by
any Holder pursuant to Section 8.08, or to any suit by Holders holding in the aggregate more
than 10% in principal amount of the outstanding Securities.

     Section 8.14 Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully
do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay, or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the
Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage
of any such law and covenants that it will not hinder, delay or impede the execution of any power
herein granted to the Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted.

ARTICLE 9

MERGER, CONSOLIDATION OR SALE OF ASSETS

     Section 9.01 Company May Consolidate, Etc., Only on Certain Terms. The Company shall not, in one
transaction or a series of related transactions, consolidate or merge with or into any Person, or
sell, convey, transfer, lease or dispose of all or substantially all of the assets of the Company
and its Subsidiaries as an entirety or substantially as an entirety, to any Person, or, permit any
Person to merge with or into the Company, unless:

          (a) either (i) the Company is the continuing or surviving Person or (ii) the resulting,
surviving or transferee Person (the “Successor Company”) is a corporation organized and validly
existing under the laws of the United States of America or any jurisdiction thereof and such
Successor Company expressly assumes by an indenture supplemental hereto (or other joinder
agreement, as applicable) all of the obligations of the Company under this Indenture, including
payment of the principal amount and interest (including Additional Interest, if any) on the
Securities, and the Securities, and the performance and observance of all of the covenants and
conditions to be performed by the Company;

          (b) immediately after giving effect to such transaction, no Default has occurred and is
continuing; and

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          (c) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel
(subject to customary exceptions and qualifications), each stating that the consolidation, merger
or transfer and the supplemental indenture (if any) comply with this Indenture.

     Any sale or other disposition of assets by Subsidiaries which would constitute substantially
all of the assets of the Company and its Subsidiaries, taken as a whole, shall be subject to the
provisions set forth in this Section 9.01.

     Section 9.02 Successor Substituted for Company. Upon the consummation of any transaction effected in accordance with Section 9.01, the
Successor Company (if not the Company) shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture and the Securities with the same effect
as if such Successor Company had been named as the Company herein. Upon such substitution, unless
the Successor Company is one or more of the Company’s Subsidiaries, the Company will be released
from its obligations under this Indenture and the Securities, except in the case of a lease of all
or substantially all of the properties and assets of the Company and its Subsidiaries.

ARTICLE 10

THE TRUSTEE

     Section 10.01 Duties and Responsibilities of Trustee.

          (a) The Trustee, prior to the occurrence of an Event of Default and after the curing of all
Events of Default which may have occurred, undertakes to perform such duties and only such duties
as are specifically set forth in this Indenture. In case an Event of Default has occurred and is
continuing, the Trustee shall exercise such of its rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a prudent person would
exercise or use under the circumstances in the conduct of his own affairs.

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

               (i) prior to the occurrence of an Event of Default and after the curing or waiving of all
Events of Default which may have occurred:

                    (A) the duties and obligations of the Trustee shall be determined solely by the express
provisions of this Indenture and the Trust Indenture Act, and the Trustee shall not be liable
except for the performance of such duties and obligations as are specifically set forth in this
Indenture and no implied covenants or obligations shall be read into this Indenture and the Trust
Indenture Act against the Trustee; and

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

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requirements of
this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations
or other facts stated therein);

               (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Trust
Officer or Officers of the Trustee, unless the Trustee was negligent in ascertaining the pertinent
facts;

               (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken
by it in good faith in accordance with the written direction of the Holders of not less than a
majority in principal amount of the Securities at the time outstanding determined as provided in
Sections 1.04 and 14.05 relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under
this Indenture;

               (iv) whether or not therein provided, every provision of this Indenture relating to the
conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to
the provisions of this Section;

               (v) the Trustee shall not be liable in respect of any payment (as to the correctness of
amount, entitlement to receive or any other matters relating to payment) or notice effected by the
Company or any Paying Agent or any records maintained by any co-registrar with respect to the
Securities; and

          (c) if any party fails to deliver a notice relating to an event the fact of which, pursuant to
this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its
failure to receive such notice as reason to act as if no such event occurred.

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

     Section 10.02 Notice of Defaults. The Trustee shall give the Holders notice of any Default known to it
hereunder within 90 days after the occurrence thereof so long as such Default is continuing;
provided that (except in the case of any Default pursuant to Sections 8.01(a) or 8.01(b), the
Trustee may withhold such notice if and so long as a committee of Trust Officers of the Trustee in
good faith determines that withholding of such notice is in the interest of the Holders of
Securities.

     Section 10.03 Reliance on Documents, Opinions, Etc. Except as otherwise provided in Section 10.01:

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

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          (b) any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be
herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to
the Trustee by a copy thereof certified by the secretary, any assistant secretary or the
general counsel of the Company;

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

          (d) the Trustee shall be under no obligation to exercise any of its rights or powers under
this Indenture at the request or direction of any of the Holders pursuant to the provisions of this
Indenture, unless such Holders shall have offered to the Trustee indemnity or security reasonably
satisfactory to it against any loss, liability or expense which may be incurred therein or thereby;

          (e) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit, and, if
the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Company, personally or by agent or attorney (at the
reasonable expense of the Company and shall incur no liability of any kind by reason of such
inquiry or investigation);

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

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

          (h) in no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action;

          (i) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a default is received by the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the Securities and the Indenture; and

          (j) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be

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enforceable by, the Trustee in each of its capacities hereunder and each agent, custodian and other
Person employed to act hereunder.

     Section 10.04 No Responsibility for Recitals, Etc. The recitals contained herein and in the Securities
(except in the Trustee’s certificate of authentication) shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Securities.
The Trustee shall not be accountable for the use or application by the Company of any Securities or
the proceeds of any Securities authenticated and delivered by the Trustee in conformity with the
provisions of this Indenture.

     Section 10.05 Trustee, Paying Agents, Conversion Agents or Registrar May Own Securities. The Trustee, any
Paying Agent, any Conversion Agent or Security Registrar, in its individual or any other capacity,
may become the owner or pledgee of Securities with the same rights it would have if it were not
Trustee, Paying Agent, Conversion Agent or Security Registrar.

     Section 10.06 Monies to be Held in Trust. Subject to the provisions of Section 12.04, all monies and
properties received by the Trustee shall, until used or applied as herein provided, be held in
trust for the purposes for which they were received. Money held by the Trustee in trust hereunder
need not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as may be agreed in
writing from time to time by the Company and the Trustee.

     Section 10.07 Compensation and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee
from time to time, and the Trustee shall be entitled to, reasonable compensation for all services
rendered by it hereunder in any capacity (which shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust) as mutually agreed to from time to
time in writing between the Company and the Trustee, and the Company will pay or reimburse the
Trustee upon its request for all reasonable expenses, disbursements and advances reasonably
incurred or made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the expenses and disbursements of its counsel and of all
Persons not regularly in its employ) except any such expense, disbursement or advance as may arise
from its negligence, willful misconduct or bad faith. The Company also covenants to indemnify the
Trustee (or any officer, director or employee of the Trustee), in any capacity under this Indenture
and its agents and any authenticating agent for, and to hold them harmless against, any and all
loss, liability, claim or expense incurred without negligence, willful misconduct or bad faith on
the part of the Trustee or such officers, directors, employees and agent or authenticating agent,
as the case may be, and arising out of or in connection with the acceptance or administration of
this trust or in any other capacity hereunder, including the costs and expenses of defending
themselves against any claim of liability in the premises. The obligations of the Company under
this Section 10.07 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for
expenses, disbursements and advances shall be secured by a lien prior to that of the Securities
upon all property and funds held or collected by the Trustee as such, except funds held in trust
for the benefit of the Holders of particular Securities. The
obligation of the Company under this Section 10.07 shall survive the satisfaction and
discharge of this Indenture.

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     When the Trustee and its agents and any authenticating agent incur expenses or render services
after an Event of Default specified in Sections 8.01(i) or 8.01(j) with respect to the Company
occurs, the expenses and the compensation for the services are intended to constitute expenses of
administration under any bankruptcy, insolvency or similar laws.

     Section 10.08 Officers’ Certificate as Evidence. Except as otherwise provided in Section 10.01, whenever in
the administration of the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or omitting any action hereunder,
such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in
the absence of negligence or willful misconduct on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to the Trustee.

     Section 10.09 Conflicting Interests of Trustee. If the Trustee has or shall acquire a conflicting interest
within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or
resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust
Indenture Act and this Indenture.

     Section 10.10 Eligibility of Trustee. There shall at all times be a Trustee hereunder which shall at all
times be a corporation organized and doing business under the laws of the United States of America
or any State or Territory thereof or of the District of Columbia, or a corporation or other Person
permitted to act as trustee by the Commission, authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least $50,000,000 (or if such Person is a
member of a bank holding company system, its bank holding company shall have a combined capital and
surplus of at least $50,000,000). If such Person publishes reports of condition at least annually,
pursuant to law or to the requirements of any supervising or examining authority, then for the
purposes of this Section 10.10 the combined capital and surplus of such Person shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so
published. The Company shall not, nor shall any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section 10.10, it
shall resign immediately in the manner and with the effect hereinafter specified in this Article.

     Section 10.11 Resignation or Removal of Trustee.

          (a) The Trustee may at any time resign by giving written notice of such resignation to the
Company and to the Holders of Securities. Upon receiving such notice of resignation, the Company
shall promptly appoint a successor trustee by written instrument, in
duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee
shall have been so appointed and have accepted appointment sixty (60) days after the mailing of
such notice of resignation to the Holders, the resigning Trustee may, upon ten (10) Business Days’
notice to the Company and the Holders, appoint a successor identified in such notice or may
petition, at the expense of the Company, any court of competent jurisdiction for the appointment of
a successor trustee, or, if any Holder who has been a bona fide Holder of a Security or Securities
for at least six (6) months may, subject to the provisions of Section 8.13, on behalf of himself
and all others

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similarly situated, petition any such court for the appointment of a successor
trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.

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

               (i) the Trustee shall fail to comply with Section 10.09 after written request therefor by the
Company or by any Holder who has been a bona fide Holder of a Security or Securities for at least
six (6) months; or

               (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 10.10
and shall fail to resign after written request therefor by the Company or by any such Holder; or

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

then, in any such case, the Company may remove the Trustee and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or,
subject to the provisions of Section 8.13, any Holder who has been a bona fide Holder of a Security
or Securities for at least six (6) months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor trustee; provided, however, that if no successor Trustee shall have been
appointed and have accepted appointment sixty (60) days after either the Company or the Holders has
removed the Trustee, the Trustee so removed may petition at its own expense any court of competent
jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such
notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor
trustee.

          (c) The Holders of a majority in aggregate principal amount of the Securities at the time
outstanding may at any time remove the Trustee and nominate a successor trustee which shall be
deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of
such nomination, the Company objects thereto, in which case the Trustee so removed or any Holder,
or if such Trustee so removed or any Holder fails to act, the Company, upon the terms and
conditions and otherwise as in Section 10.11(a) provided, may petition any court of competent
jurisdiction for an appointment of a successor trustee.

          (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant
to any of the provisions of this Section 10.11 shall become effective upon acceptance of
appointment by the successor trustee as provided in Section 10.12.

     Section 10.12 Acceptance by Successor Trustee. Any successor trustee appointed as provided in Section 10.11
shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument
accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor
trustee shall become effective and such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, duties and obligations of its
predecessor hereunder, with like effect as if originally named as trustee herein;

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but,
nevertheless, on the written request of the Company or of the successor trustee, the trustee
ceasing to act shall, upon payment of any amount then due it pursuant to the provisions of Section
10.07, execute and deliver an instrument transferring to such successor trustee all the rights and
powers of the trustee so ceasing to act. Upon request of any such successor trustee, the Company
shall execute any and all instruments in writing for more fully and certainly vesting in and
confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall,
nevertheless, retain a lien upon all property and funds held or collected by such trustee as such,
except for funds held in trust for the benefit of Holders of particular Securities, to secure any
amounts then due it pursuant to the provisions of Section 10.07.

     No successor trustee shall accept appointment as provided in this Section 10.12 unless, at the
time of such acceptance, such successor trustee shall be qualified under the provisions of Section
10.09 and be eligible under the provisions of Section 10.10.

     Upon acceptance of appointment by a successor trustee as provided in this Section 10.12, the
Company (or the former trustee, at the written direction of the Company) shall mail or cause to be
mailed notice of the succession of such trustee hereunder to the Holders of Securities at their
addresses as they shall appear on the Security Register. If the Company fails to mail such notice
within ten (10) days after acceptance of appointment by the successor trustee, the successor
trustee shall cause such notice to be mailed at the expense of the Company.

     Section 10.13 Succession by Merger, Etc. Any corporation into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation succeeding to all or
substantially all of the corporate trust business of the Trustee (including any trust created by
this Indenture), shall be the successor to the Trustee hereunder without the execution or filing of
any paper or any further act on the part of any of the parties hereto, provided that in the case of
any corporation succeeding to all or substantially all of the corporate trust business of the
Trustee, such corporation shall be qualified under the provisions of Section 10.09 and eligible
under the provisions of Section 10.10.

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

     Section 10.14 Preferential Collection of Claims. The Trustee shall comply with Section 311(a) of the Trust
Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of
the Trust Indenture Act to the extent included therein.

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     Section 10.15 Trustee’s Application for Instructions from the Company. Any application by the
Trustee for written instructions from the Company (other than with regard to any action proposed to
be taken or omitted to be taken by the Trustee that affects the rights of the Holders of the
Securities under this Indenture) may, at the option of the Trustee, set forth in writing any action
proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after
which such action shall be taken or such omission shall be effective. The Trustee shall not be
liable for any action taken by, or omission of, the Trustee in accordance with a proposal included
in such application on or after the date specified in such application (which date shall not be
less than three (3) Business Days after the date any officer of the Company actually receives such
application, unless any such officer shall have consented in writing to any earlier date) unless
prior to taking any such action (or the effective date in the case of an omission), the Trustee
shall have received written instructions in response to such application specifying the action to
be taken or omitted.

ARTICLE 11

HOLDERS’ LISTS AND REPORTS BY TRUSTEE

     Section 11.01 Company to Furnish Trustee Names and Addresses of Holders. The Company will
furnish or cause to be furnished to the Trustee:

               (i) semi-annually, not more than 15 days after each Regular Record Date, a list, in such form
as the Trustee may reasonably require, of the names and addresses of the Holders as of such Regular
Record Date; and

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

excluding from any such list names and addresses received by the Trustee in its capacity as
Security Registrar; provided, however, that no such list need be furnished so long as the Trustee
is acting as Security Registrar.

     Section 11.02 Preservation of Information; Communications to Holders.

          (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 11.01 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 11.01
upon receipt of a new list so furnished.

          (b) The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Securities, and the corresponding rights and duties of the Trustee,
shall be as provided by Section 312(b) of the Trust Indenture Act.

          (c) Every Holder, by receiving and holding the same, agrees with the Company and the Trustee
that the Company and the Trustee shall have the protection of Section 312(c) of the Trust Indenture
Act and neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

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     Section 11.03 Reports By Trustee. The Trustee shall transmit to Holders such reports
concerning the Trustee and its actions under this Indenture as may be required pursuant to the
Trust Indenture Act at the times and in the manner provided pursuant thereto.

          A copy of each such report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange, if any, upon which the Securities are listed, with the Commission
and with the Company. The Company will notify the Trustee when the Securities are listed on any
stock exchange or of any delisting thereof.

     Section 11.04 Reports by Company.

          (a) The Company shall file with the Trustee and the Commission, and transmit to Holders, such
information, documents and other reports and such summaries thereof, as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that
the Company’s reporting obligations under Section 314(a)(1) of the Trust Indenture Act shall be as
set forth in Section 4.10 hereof.

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

ARTICLE 12

SATISFACTION AND DISCHARGE

     Section 12.01 Discharge of Indenture. When:

          (a) the Company shall deliver to the Trustee for cancellation all Securities theretofore
authenticated (other than any Securities that have been destroyed, lost or stolen and in lieu of or
in substitution for which other Securities shall have been authenticated and delivered) and not
theretofore canceled; or

          (b) all the Securities not theretofore canceled or delivered to the Trustee for cancellation
shall have become due and payable, or are by their terms to become due and payable within one year
or are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption, and the Company shall deposit with the Trustee, or deliver
to the Holders, as applicable, in trust, cash or U.S. Government Obligations or a combination
thereof sufficient to pay, whether at the Maturity Date or with respect to any Fundamental Change
Purchase Date or Redemption Date in connection with the purchase, conversion or redemption of all
of the outstanding Securities (other than any Securities that shall have been mutilated, destroyed,
lost or stolen and in lieu of or in substitution for which other Securities shall have been
authenticated and delivered), all amounts due and payable or to become due and payable, accompanied
by a verification report, as to the sufficiency of the deposited amount, from an independent
certified accountant or other financial professional satisfactory to the Trustee,

and if the Company shall also pay or cause to be paid all other sums payable hereunder by the
Company, then this Indenture shall cease to be of further effect (except as to (i) remaining rights
of

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registration of transfer, substitution and exchange and conversion of Securities, (ii) rights
hereunder of Holders to receive payments of principal of and interest (including Additional
Interest, if any) on, the Securities and the other rights, duties and obligations of Holders, as
beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee and
(iii) the rights, obligations and immunities of the Trustee hereunder), and the Trustee, on written
demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as required
by Section 1.03 and at the cost and expense of the Company, shall execute proper instruments
acknowledging satisfaction of and discharging this Indenture; the Company, however, hereby agrees
to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by
the Trustee and to compensate the Trustee for any services thereafter reasonably and properly
rendered by the Trustee in connection with this Indenture or the Securities.

     Section 12.02 Deposited Monies to be Held in Trust by Trustee. Subject to Section 12.04, all
monies or U.S. Government Obligations deposited with the Trustee pursuant to Section 12.01 shall be
held in trust for the sole benefit of the Holders, and such monies or U.S. Government Obligations
shall be applied by the Trustee to the payment, either directly or through any Paying Agent
(including the Company if acting as its own Paying Agent), to the Holders of the particular
Securities for the payment or redemption of which such monies or U.S.
Government Obligations have been deposited with the Trustee, of all sums due and to become due
thereon for principal and interest (including Additional Interest, if any).

     Section 12.03 Paying Agent to Repay Monies Held. Upon the satisfaction and discharge of this
Indenture, all monies or U.S. Government Obligations then held by any Paying Agent of the
Securities (other than the Trustee) shall, upon written request of the Company, be repaid to it or
paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability
with respect to such monies or U.S. Government Obligations.

     Section 12.04 Return of Unclaimed Monies. Subject to the requirements of applicable law, any
monies or U.S. Government Obligations deposited with or paid to the Trustee for payment of the
principal of or interest (including Additional Interest, if any) on Securities and not applied but
remaining unclaimed by the Holders of Securities for two years after the date upon which the
principal of or interest (including Additional Interest, if any) on such Securities, as the case
may be, shall have become due and payable, shall be repaid to the Company by the Trustee on demand
and all liability of the Trustee shall thereupon cease with respect to such monies or U.S.
Government Obligations; and the Holder of any of the Securities shall thereafter look only to the
Company for any payment that such Holder may be entitled to collect unless an applicable abandoned
property law designates another Person.

     Section 12.05 Reinstatement. If the Trustee or the Paying Agent is unable to apply any money
or U.S. Government Obligations in accordance with Section 12.02 by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s obligations under this Indenture and the Securities shall be revived and
reinstated as though no deposit had occurred pursuant to Section 12.01 until such time as the
Trustee or the Paying Agent is permitted to apply all such money or U.S. Government Obligations in
accordance with Section 12.02; provided, however, that if the Company makes any payment of interest
on or principal of any Security following the reinstatement of its obligations, the Company

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shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the
money held by the Trustee or Paying Agent.

ARTICLE 13

MODIFICATION AND AMENDMENT

     Section 13.01 Without Consent of Holders. Without the consent of any Holders, the Company,
when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any
of the following purposes:

               (i) to cure any ambiguity or omission or correct any defect or inconsistency contained herein
or in the Securities, so long as such action will not adversely affect the interests of the
Holders;

               (ii) to provide for the assumption by a successor corporation, partnership, trust or limited
liability company of the obligations of the Company contained herein;

               (iii) to provide for or add guarantees of the Securities;

               (iv) to secure the Securities;

               (v) to add to the covenants of the Company for the benefit of the Holders, or to surrender any
right or power conferred upon the Company by this Indenture;

               (vi) to provide for uncertificated Securities in addition to or in place of certificated
Securities;

               (vii) to make any changes or modifications to this Indenture necessary in connection with the
registration of a public offer and sale of the Securities under the Securities Act or the
qualification of this Indenture under the Trust Indenture Act;

               (viii) to make any amendment to the provisions of this Indenture relating to the transferring
and legending of Securities as permitted by this Indenture, including, without limitation, to
facilitate the issuance and administration of the Securities; provided, however, that
(a) compliance with this Indenture as so amended would not result in Securities being transferred
in violation of the Securities Act or any applicable securities laws and (b) such amendment does
not adversely affect the rights of the Holders;

               (ix) to evidence and provide for the acceptance of the appointment of a successor Trustee; or

               (x) to make any change that does not materially adversely affect the rights of any Holder,
provided that any amendment made solely to conform the provisions of this Indenture or the
Securities to the “Description of New 7.5% Notes” section in the Prospectus will be deemed not to
materially adversely affect the rights of the Holders.

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     Section 13.02 With Consent of Holders. With the consent of the Holders of not less than a
majority in principal amount of the outstanding Securities, including, without limitation, consents
obtained in connection with a purchase of, or tender offer or exchange offer for, the Securities,
by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a
Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for
the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders under this
Indenture; provided, however, that no such supplemental indenture shall, without the consent of the
Holder of each outstanding Security affected thereby:

               (i) reduce the percentage in aggregate principal amount of Securities whose Holders must
consent to an amendment of this Indenture or to waive any past default;

               (ii) reduce the rate or extend the stated time of payment of any interest (including
Additional Interest, if any) on any Security, or change the Company’s obligation to pay Additional
Interest or Coupon Make Whole Payments;

               (iii) reduce the principal amount, Additional Interest or Coupon Make Whole Payments, if any,
or extend the Maturity Date, of any Security;

               (iv) change the place or currency of payment of principal or interest in respect of any
Security;

               (v) make any change that adversely affects the conversion rights of any Security, including
any change to the provisions set forth in Article 6;

               (vi) reduce the Fundamental Change Purchase Price or Redemption Price of any Security or amend
or modify in any manner adverse to the Holders of Securities the Company’s obligation to make such
payments, including any extension of the related payment dates or any change to the provisions set
forth in Article 5 or Article 7;

               (vii) impair the right of any Holder to receive payment of principal of and interest,
including Additional Interest, on such Holder’s Securities on or after the due dates therefor or to
institute suit for the enforcement of any payment on or with respect to such Holder’s Securities;

               (viii) modify any of the provisions of this Section 13.02 or Section 8.02(b); or

               (ix) adversely affect the ranking of the Securities as senior unsecured indebtedness of the
Company.

     It shall not be necessary for any Act of Holders under this Section 13.02 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act
shall approve the substance thereof.

     Section 13.03 Execution of Supplemental Indentures. In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Section 13.03 or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be provided with, and

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(subject
to Section 10.01) shall be fully protected in relying upon, in addition to the documents required
by Section 1.03, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. Subject to the preceding sentence, the Trustee shall
sign such supplemental indenture if the same does not adversely affect the Trustee’s own rights,
duties or immunities under this Indenture or otherwise. The Trustee may, but shall not be
obligated to, enter into any such supplemental indenture that adversely affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

     Section 13.04 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under Section 13.03, this Indenture shall
be modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder theretofore or thereafter authenticated and delivered
hereunder shall be bound thereby.

     Section 13.05 Conformity with Trust Indenture Act. Every supplemental indenture executed
pursuant to this Article shall conform to the applicable requirements of the Trust Indenture Act.

     Section 13.06 Reference in Securities to Supplemental Indentures. Securities authenticated
and delivered after the execution of any supplemental indenture pursuant to Section 13.03 shall
bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in exchange for outstanding
Securities.

     Section 13.07 Notice to Holders of Supplemental Indentures. The Company shall cause notice
briefly detailing any supplemental indenture to be delivered to each Holder, at his address
appearing on the Security Register provided for in this Indenture, within 20 days after execution
thereof. Failure to deliver such notice to all Holders, or any defect in such notice, shall not
impair or affect the legality or validity of such supplemental indenture.

ARTICLE 14

MISCELLANEOUS

     Section 14.01 Trust Indenture Act Controls. If any provision of this Indenture limits,
qualifies or conflicts with the duties imposed by any of Sections 310 to 317, inclusive, of the
Trust Indenture Act through operation of Section 318(c) thereof, such imposed duties shall control.
If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act
that may be so modified or excluded, the provision of the Trust Indenture Act shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be.

     Section 14.02 Notices. Any notice or communication shall be in writing (including telecopy
promptly confirmed in writing) and delivered in person or mailed by first-class mail addressed as
follows:

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if to the Company:

Evergreen Solar, Inc.

138 Bartlett Street

Marlboro, Massachusetts 01752

Attention: Chief Financial Officer

Fax: (508) 229-0747

if to the Trustee:

U.S. Bank National Association

633 West 5th Street, 24th Floor

Los Angeles, California 90071

Attention: Corporate Trust Services

(Evergreen Solar 7.5% Convertible Senior Notes due 2017)

Fax: (213) 615-6197

     The Company or the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications.

     Any notice or communication mailed to a registered Holder shall be mailed to the Holder at the
Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently
given if so mailed within the time prescribed. Any notice shall be deemed to have been given: at
the time delivered, if delivered in person; on the fifth day after being mailed using the U.S.
postal system; upon confirmation of transmission, if delivered by facsimile; or the next Business
Day, if sent by overnight courier.

     Failure to mail or deliver a notice or communication to a Holder or any defect in it shall not
affect its sufficiency with respect to other Holders. If a notice or communication is delivered in
the manner provided above, it is duly given, whether or not the addressee receives it, except that
notices to the Trustee shall be effective only upon receipt.

     The Trustee agrees to accept and act upon facsimile transmission of written instructions
and/or directions pursuant to this Indenture given by the Company, provided, however, that (i) the
Company, subsequent to such facsimile transmission of written instructions and/or directions, shall
provide the originally executed instructions and/or directions to the Trustee in a timely manner
and (ii) such originally executed instructions and/or directions shall be signed by an authorized
officer of the Company.

     Section 14.03 Communication by Holders with other Holders. Holders may communicate pursuant
to Section 312(b) of the Trust Indenture Act with other Holders with respect to their rights under
this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone else shall
have the protection of Section 312(c) of the Trust Indenture Act.

     Section 14.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take or refrain from
taking any action under this Indenture, the Company shall furnish to the Trustee:

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          (a) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with; and

          (b) if requested by the Trustee, an Opinion of Counsel in form and substance reasonably
satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions
precedent have been complied with.

     Section 14.05 When Securities Are Disregarded. In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company shall be disregarded and deemed not
to be outstanding, except that, for the purpose of determining whether the Trustee shall be
protected in relying on any such direction, waiver or consent, only Securities which a Trust
Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Securities outstanding at the time shall be considered in any such determination.

     Section 14.06 Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable
rules for action by, or a meeting of, Holders. The Registrar and the Paying Agent may make
reasonable rules for their functions.

     Section 14.07 Legal Holidays. If an Interest Payment Date is not a Business Day, payment
shall be made on the next succeeding day that is a Business Day, and no interest (including
Additional Interest, if any) shall accrue for the intervening period. If a Regular Record Date is
not a Business Day, the Regular Record Date shall not be affected. In any case where the Maturity
Date of any Security is not a Business Day, then (notwithstanding any other provision of this
Indenture or of the Securities) payment of principal need not be made on such date, but may be made
on the next succeeding day that is a Business Day, with the same force and effect as if made on at
the Maturity Date.

     Section 14.08 Governing Law. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     Section 14.09 No Recourse against Others. An incorporator, director, officer, employee,
Affiliate or stockholder of the Company, solely by reason of this status, shall not have any
liability for any obligations of the Company under the Securities, this Indenture or for any claim
based on, in respect of or by reason of such obligations
or their creation. By accepting a Security, each Holder shall waive and release all such
liability. The waiver and release shall be part of the consideration for the issue of the
Securities.

     Section 14.10 Successors. All agreements of the Company in this Indenture and the Securities
shall bind its respective successors. All agreements of the Trustee in this Indenture shall bind
its successors.

     Section 14.11 Multiple Originals. The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. One signed copy is enough to prove this Indenture.

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     Section 14.12 Table of Contents; Headings. The table of contents, cross-reference sheet and
headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not intended to be considered a part hereof and shall not modify or restrict
any of the terms or provisions hereof.

     Section 14.13 Severability Clause. In case any provision in this Indenture 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 and such provision shall be ineffective only
to the extent of such invalidity, illegality or unenforceability.

     Section 14.14 Calculations. Except as otherwise provided herein, the Company will be
responsible for making all calculations called for under this Indenture or the Securities. The
Company (or its agents) will make all such calculations in good faith and, absent manifest error,
its calculations will be final and binding on the Trustee, the Paying Agent, the Conversion Agent
and Holders. The Company (or its agents) upon request will provide a schedule of its calculations
to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is
entitled to rely conclusively upon the accuracy of such calculations without independent
verification. The Trustee will deliver a copy of such schedule to any Holder upon the written
request of such Holder.

     Section 14.15 Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE
TRANSACTIONS CONTEMPLATED THEREBY.

     Section 14.16 Consent to Jurisdiction.

          (a) The Company hereby irrevocably and unconditionally submits, for itself and its property,
to the nonexclusive jurisdiction of any New York State court or federal court of the United States
sitting in the State and City of New York, County and Borough of Manhattan, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to this Indenture or the
Securities, or for recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such state court sitting in the State and City of New
York, County and Borough of Manhattan or, to the extent permitted by law, in such federal court
sitting in the State and City of New York, County and Borough of Manhattan. Each of the parties
hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

          (b) The Company hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action proceeding arising out of or relating to this Indenture or the Securities
in any New York State or federal court. Each of the parties hereto hereby irrevocably waives, to
the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.

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     Section 14.17 Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

[Remainder of the page intentionally left blank.]

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

	 	 	 	 	 
	 	EVERGREEN SOLAR, INC.

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

 

 

EXHIBIT A

FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE

                    ,      

U.S. Bank National Association

633 West Fifth Street, 24th floor

Los Angeles, California 90071

Attention: Corporate Trust Services

Attention: Corporate Trust Services

(Evergreen Solar 7.5% Convertible Senior Notes due 2017)

Fax: (213) 615-6197

	 	 	 	 

	 

	Re:
	 	Evergreen Solar, Inc. (the “Company”)
	 

	 	 	7.5% Convertible Senior Notes due 2017

     This is a Fundamental Change Purchase Notice as defined in Section 5.01(c) of the Indenture
dated as of [•], 2011 (the “Indenture”) by and between the Company and U.S. Bank National
Association, as Trustee. Terms used but not defined herein shall have the meanings ascribed to
them in the Indenture.

Certificate No(s). of Securities:                                                             

(if certificated)

     I intend to deliver the following aggregate principal amount of Securities for purchase by the
Company pursuant to Section 5.01 of the Indenture (in integral multiples of $1,000):

$                                                             

     I hereby agree that the Securities will be purchased by the Company as of the Fundamental
Change Purchase Date pursuant to the terms and conditions thereof and of the Indenture.

	 	 	 	 	 
	 	 	 
	 	Signed:exv4w1

Exhibit 4.1

 

 

SWIFT TRANSPORTATION COMPANY,

as Parent,

SWIFT SERVICES HOLDINGS, INC.,

as the Company,

and

THE SUBSIDIARY GUARANTORS NAMED ON THE SIGNATURES PAGES HERETO

10.000% SENIOR SECOND PRIORITY SECURED NOTES DUE 2018

 

INDENTURE

Dated as of December 21, 2010

 

 

U.S. BANK NATIONAL ASSOCIATION,

as the Trustee

 

 

 

 

 

CROSS-REFERENCE TABLE

	 	 	 	 
	Trust Indenture	 
	Act Section	Indenture Section
	310

	(a)(1)
	 	7.10
	 

	(a)(2)
	 	7.10
	 

	(a)(3)
	 	N.A.
	 

	(a)(4)
	 	N.A.
	 

	(a)(5)
	 	7.10
	 

	(b)
	 	7.10
	 

	(c)
	 	N.A.
	311

	(a)
	 	7.11
	 

	(b)
	 	7.11
	 

	(c)
	 	N.A.
	312

	(a)
	 	2.05
	 

	(b)
	 	13.03
	 

	(c)
	 	13.03
	313

	(a)
	 	7.06
	 

	(b)(2)
	 	7.06; 7.07
	 

	(c)
	 	7.06; 13.02
	 

	(d)
	 	7.06
	314

	(a)
	 	4.03; 13.02; 13.05
	 

	(c)(1)
	 	13.04
	 

	(c)(2)
	 	13.04
	 

	(c)(3)
	 	N.A.
	 

	(e)
	 	13.05
	 

	(f)
	 	N.A.
	315

	(a)
	 	7.01
	 

	(b)
	 	7.05, 13.02
	 

	(c)
	 	7.01
	 

	(d)
	 	7.01
	 

	(e)
	 	6.11
	316

	(a) (last sentence)
	 	2.09
	 

	(a)(1)(A)
	 	6.05
	 

	(a)(1)(B)
	 	6.04
	 

	(a)(2)
	 	N.A.
	 

	(b)
	 	6.07
	 

	(c)
	 	2.12
	317

	(a)(1)
	 	6.08
	 

	(a)(2)
	 	6.09
	 

	(b)
	 	2.04
	318

	(a)
	 	N.A.
	 

	(b)
	 	N.A.
	 

	(c)
	 	13.01

N.A. means not applicable.

 

			
	*	 	This Cross Reference Table is not part of this Indenture.

i

 

	 	 	 	 	 

	ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	1	 
	Definitions
	 	 	1	 
	Other Definitions
	 	 	31	 
	Incorporation by Reference of Trust Indenture Act
	 	 	32	 
	Rules of Construction
	 	 	32	 
	 
	 	 	 	 
	ARTICLE 2 THE NOTES
	 	 	33	 
	Form and Dating
	 	 	33	 
	Execution and Authentication
	 	 	34	 
	Registrar and Paying Agent
	 	 	34	 
	Paying Agent to Hold Money in Trust
	 	 	35	 
	Holder Lists
	 	 	35	 
	Transfer and Exchange
	 	 	35	 
	Replacement Notes
	 	 	50	 
	Outstanding Notes
	 	 	50	 
	Treasury Notes
	 	 	51	 
	Temporary Notes
	 	 	51	 
	Cancellation
	 	 	51	 
	Defaulted Interest
	 	 	51	 
	 
	 	 	 	 
	ARTICLE 3 REDEMPTION AND PREPAYMENT
	 	 	52	 
	Notices to Trustee
	 	 	52	 
	Selection of Notes to Be Redeemed or Purchased
	 	 	52	 
	Notice of Redemption
	 	 	53	 
	Effect of Notice of Redemption
	 	 	54	 
	Deposit of Redemption or Purchase Price
	 	 	54	 
	Notes Redeemed or Purchased in Part
	 	 	54	 
	Optional Redemption
	 	 	54	 
	Mandatory Redemption
	 	 	55	 
	Offer to Purchase by Application of Excess Designated
Proceeds or Excess Proceeds
	 	 	55	 
	 
	 	 	 	 
	ARTICLE 4 COVENANTS
	 	 	58	 
	Payment of Notes
	 	 	58	 
	Maintenance of Office or Agency
	 	 	58	 
	Reports
	 	 	59	 
	Compliance Certificate
	 	 	60	 

ii

 

	 	 	 	 	 

	Taxes
	 	 	60	 
	Stay, Extension and Usury Laws
	 	 	61	 
	Restricted Payments
	 	 	61	 
	Dividend and Other Payment Restrictions Affecting
Subsidiaries
	 	 	65	 
	Incurrence of Indebtedness and Issuance of Preferred Equity
	 	 	67	 
	Asset Sales
	 	 	72	 
	Transactions with Affiliates
	 	 	74	 
	Liens
	 	 	76	 
	Business Activities
	 	 	76	 
	Corporate Existence
	 	 	76	 
	Offer to Repurchase Upon Change of Control
	 	 	77	 
	SECTION 4.16 [Reserved]
	 	 	79	 
	Limitation on Sale and Leaseback Transactions
	 	 	79	 
	Payments for Consent
	 	 	79	 
	Additional Note Guarantees
	 	 	79	 
	Designation of Restricted and Unrestricted Subsidiaries
	 	 	80	 
	Amendment of Security Documents
	 	 	80	 
	Post-Closing Obligations
	 	 	80	 
	After-Acquired Property
	 	 	82	 
	Effectiveness of Covenants
	 	 	83	 
	 
	 	 	 	 
	ARTICLE 5 SUCCESSORS
	 	 	84	 
	Merger, Consolidation, or Sale of Assets
	 	 	84	 
	Successor Corporation Substituted
	 	 	86	 
	 
	 	 	 	 
	ARTICLE 6 DEFAULTS AND REMEDIES
	 	 	86	 
	Events of Default
	 	 	86	 
	Acceleration
	 	 	89	 
	Other Remedies
	 	 	89	 
	Waiver of Past Defaults
	 	 	89	 
	Control by Majority
	 	 	89	 
	Limitation on Suits
	 	 	90	 
	Rights of Holders of Notes to Receive Payment
	 	 	90	 
	Collection Suit by Trustee
	 	 	90	 
	Trustee May File Proofs of Claim
	 	 	90	 
	Priorities
	 	 	91	 

iii

 

	 	 	 	 	 

	Undertaking for Costs
	 	 	91	 
	 
	 	 	 	 
	ARTICLE 7 TRUSTEE
	 	 	91	 
	Duties of Trustee
	 	 	91	 
	Rights of Trustee
	 	 	92	 
	Individual Rights of Trustee
	 	 	94	 
	Trustee’s Disclaimer
	 	 	95	 
	Notice of Defaults
	 	 	95	 
	Reports by Trustee to Holders of the Notes
	 	 	95	 
	Compensation and Indemnity
	 	 	95	 
	Replacement of Trustee
	 	 	96	 
	Successor Trustee by Merger, etc.
	 	 	97	 
	Eligibility; Disqualification
	 	 	97	 
	Preferential Collection of Claims Against Company
	 	 	97	 
	 
	 	 	 	 
	ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	98	 
	Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	98	 
	Legal Defeasance and Discharge
	 	 	98	 
	Covenant Defeasance
	 	 	98	 
	Conditions to Legal or Covenant Defeasance
	 	 	99	 
	Deposited Money and Government Securities to be Held in
Trust; Other Miscellaneous Provisions
	 	 	100	 
	Repayment to the Company
	 	 	101	 
	Reinstatement
	 	 	101	 
	 
	 	 	 	 
	ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER
	 	 	102	 
	Without Consent of Holders of Notes
	 	 	102	 
	With Consent of Holders of Notes
	 	 	103	 
	Compliance
	 	 	105	 
	Revocation and Effect of Consents
	 	 	105	 
	Notation on or Exchange of Notes
	 	 	105	 
	Trustee to Sign Amendments, etc.
	 	 	106	 
	 
	 	 	 	 
	ARTICLE 10 COLLATERAL
	 	 	106	 
	Security Documents
	 	 	106	 
	Collateral Agent
	 	 	107	 
	Authorization of Actions to Be Taken
	 	 	108	 
	Release of Liens
	 	 	109	 

iv

 

	 	 	 	 	 

	Filing, Recording and Opinions
	 	 	110	 
	Powers Exercisable by Receiver or Trustee
	 	 	111	 
	Release Upon Termination of the Company’s Obligations
	 	 	111	 
	Designations
	 	 	111	 
	 
	 	 	 	 
	ARTICLE 11 NOTE GUARANTEES
	 	 	111	 
	Guarantee
	 	 	111	 
	Limitation on Guarantor Liability
	 	 	113	 
	Execution and Delivery of Note Guarantee
	 	 	113	 
	Subsidiary Guarantors May Consolidate, etc., on Certain
Terms
	 	 	114	 
	Releases
	 	 	115	 
	 
	 	 	 	 
	ARTICLE 12 SATISFACTION AND DISCHARGE
	 	 	116	 
	Satisfaction and Discharge
	 	 	116	 
	Application of Trust Money
	 	 	117	 
	 
	 	 	 	 
	ARTICLE 13 MISCELLANEOUS
	 	 	117	 
	Trust Indenture Act Controls
	 	 	117	 
	Notices
	 	 	117	 
	Communication by Holders of Notes with Other Holders of
Notes
	 	 	119	 
	Certificate and Opinion as to Conditions Precedent
	 	 	119	 
	Statements Required in Certificate or Opinion
	 	 	120	 
	Rules by Trustee and Agents
	 	 	120	 
	No Personal Liability of Directors, Officers, Employees
and Stockholders
	 	 	120	 
	Governing Law
	 	 	120	 
	No Adverse Interpretation of Other Agreements
	 	 	121	 
	Successors
	 	 	121	 
	Severability
	 	 	121	 
	Counterpart Originals
	 	 	121	 
	Table of Contents, Headings, etc.
	 	 	121	 
	Benefits of Indenture
	 	 	121	 

	 	 	 

	EXHIBITS

	Exhibit A
	 	FORM OF NOTE
	Exhibit B
	 	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C
	 	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D
	 	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	Exhibit E
	 	FORM OF SUPPLEMENTAL INDENTURE

v

 

     INDENTURE, dated as of December 21, 2010, among Swift Services Holdings, Inc., a Delaware
corporation (the “Company”), Swift Transportation Company, a Delaware corporation
(“Parent”), the Subsidiary Guarantors (as defined herein) and U.S. Bank National
Association, a national banking association, as trustee (the “Trustee”).

     The Company has duly authorized the creation of an issue of 10.000% Senior Second Priority
Secured Notes due 2018 issued on the date hereof as provided in this Indenture, and to provide
therefor the Company has duly authorized the execution and delivery of this Indenture.

     Parent and the Subsidiary Guarantors have duly authorized their Note Guarantees of the Notes,
and to provide therefor Parent and Subsidiary Guarantors have duly authorized the execution and
delivery of this Indenture.

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

     The Company, Parent, the Subsidiary Guarantors and the Trustee agree as follows for the
benefit of each other and for the equal and ratable benefit of the Holders:

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

     SECTION 1.01 Definitions.

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

     “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 such specified Person or at such time such other Person became a Restricted
Subsidiary of Parent, whether or not such Indebtedness is incurred in connection with, or in
contemplation of, such other Person merging with or into such specified Person or becoming a
Restricted Subsidiary of Parent; and

     (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified
Person.

     “Additional Interest” means all additional interest then owing pursuant to the
Registration Rights Agreement.

     “Additional Notes” means an unlimited principal amount of additional Notes (other than
the Initial Notes) issued under this Indenture in accordance with Sections 2.02 and
4.09 hereof, as part of the same series as the Initial Notes.

1

 

     “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,” as used with respect to any Person, means 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. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” have correlative meanings.

     “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

     “Agent’s Message” means a message transmitted by DTC to, and received by, the
Depositary and forming a part of the Book-Entry Confirmation, which states that DTC has received an
express acknowledgment from each participant in DTC tendering the Notes that such participants have
received the Letter of Transmittal and agree to be bound by the terms of the Letter of Transmittal
and the Company may enforce such agreement against such participants.

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

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

     (2) the excess, if any, of (a) the present value at such redemption date of (i) the
redemption price of such Note at November 15, 2014 (such redemption price being set forth in
Section 3.07(a)), plus (ii) all required interest payments due on such Note through
November 15, 2014 (excluding accrued but unpaid interest to the redemption date), computed
using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis
points; over (b) the principal amount of such Note.

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

     “Asset Sale” means:

     (1) the sale, lease (other than operating leases entered into in the ordinary course of
business), conveyance or other disposition of any assets or rights; provided,
that, the sale, lease, conveyance or other disposition of all or substantially all
of the assets of Parent, the Company and Parent’s Restricted Subsidiaries taken as a whole
will be governed by Section 4.15 and/or Section 5.01 and not by Section
4.10; and

     (2) the issuance or sale of Equity Interests in the Company or any of Parent’s
Restricted Subsidiaries.

     Notwithstanding the preceding, none of the following items will be deemed to be an Asset Sale:

     (1) any single transaction or series of related transactions that involves assets
having a Fair Market Value of less than $5.0 million;

2

 

     (2) a transfer of assets between or among Parent, the Company and any of Parent’s
Restricted Subsidiaries;

     (3) an issuance or sale of Equity Interests by the Company or a Restricted Subsidiary
of Parent to Parent, the Company or to another Restricted Subsidiary of Parent;

     (4) the sale or lease of inventory, equipment, products or services or the licensing or
lease, assignment or sub-lease of any real or personal property in the ordinary course of
business and the sale of real property that constitutes Excluded Assets;

     (5) the sale or disposition or discounting of accounts receivable in the ordinary
course of business;

     (6) any sale or other disposition of damaged, worn-out, obsolete or no longer useful
assets in the ordinary course of business, including Motor Vehicles;

     (7) any sale or disposition of assets received by Parent, the Company or any of
Parent’s Restricted Subsidiaries upon the foreclosure on a Lien;

     (8) the sale or other disposition of cash, Cash Equivalents or Marketable Securities;

     (9)
a Restricted Payment that does not violate Section 4.07 or any Permitted
Investment;

     (10) the granting of Liens not otherwise prohibited by this Indenture;

     (11) the surrender or waiver of contract rights or settlement, release or surrender of
contract, tort or other claims;

     (12) the forgiveness of Indebtedness; and

     (13) the disposition of an asset for a similar asset in a transaction or series of
transactions intended to qualify as a “like-kind exchange” under Section 1031 of the Code
(or any successor or replacement provision), provided that:

     (a) in the event such transaction or series of transactions involves the
transfer by Parent, the Company or any of Parent’s Restricted Subsidiaries of assets
having an aggregate fair market value, as determined by the Board of Directors of
the Company in good faith, in excess of $20.0 million, the terms of such transaction
have been approved by a majority of the members of the Board of Directors of the
Company;

     (b) in the event such transaction involves the transfer by Parent, the Company
or any of Parent’s Restricted Subsidiaries of Collateral, the acquired assets shall
be pledged as Collateral as soon as practicable or otherwise permissible pursuant to
Section 4.23, with the Lien on such Collateral securing

3

 

the Notes being of the same priority with respect to the Notes or Indebtedness
as the Lien on the assets disposed of; and

     (c) any Net Proceeds received by Parent, the Company or any of Parent’s
Restricted Subsidiaries shall be subject to the restrictions governing receipt of
Net Proceeds set forth in Section 4.10.

     “Attributable Debt” in respect of a sale and leaseback transaction means, at the time
of determination, the present value of the obligation of the lessee for net rental payments during
the remaining term of the lease included in such sale and leaseback transaction including any
period for which such lease has been extended or may, at the option of the lessor, be extended.
Such present value shall be calculated using a discount rate equal to the rate of interest implicit
in such transaction, determined in accordance with GAAP; provided, however, that if
such sale and leaseback transaction results in a Capital Lease Obligation, the amount of
Indebtedness represented thereby will be determined in accordance with the definition of “Capital
Lease Obligation.”

     “Bankruptcy Code” means Title 11 of the United States Code, as amended.

     “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign
law for the relief of debtors.

     “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5
under the Exchange Act, except that in calculating the beneficial ownership of any particular
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be
deemed to have beneficial ownership of all securities that such “person” has the right to acquire
by conversion or exercise of other securities, whether such right is currently exercisable or is
exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned”
have a corresponding meaning.

     “Board of Directors” means:

     (1) with respect to a corporation, the board of directors of the corporation or any
committee thereof duly authorized to act on behalf of such board;

     (2) with respect to a partnership, the Board of Directors or other governing body of
the general partner of the partnership;

     (3) with respect to a limited liability company, the Board of Directors or other
governing body, and in the absence of same, the manager or board of managers or the managing
member or members or any controlling committee thereof; and

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

     “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 State.

4

 

     “Capital 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 that time be required to be
capitalized on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP.

     “Capital Stock” means:

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

     (2) in the case of an association or business entity that is not a corporation, 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 interests
(whether general or limited) or membership interests; 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,

but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether
or not such debt securities include any right of participation with Capital Stock.

     “Captive Insurance Companies” means Mohave Transportation Insurance Company, an
Arizona corporation, and Red Rock Risk Retention Group Inc., an Arizona corporation, and their
respective Subsidiaries.

     “Cash Equivalents” means:

     (1) United States dollars;

     (2) securities issued or directly and fully guaranteed or insured by the United States
government or any agency or instrumentality of the United States government
(provided that the full faith and credit of the United States is pledged in support
of those securities) having maturities of not more than one year from the date of
acquisition;

     (3) certificates of deposit, time deposits and eurodollar time deposits with maturities
of one year or less from the date of acquisition, bankers’ acceptances with maturities not
exceeding one year and overnight bank deposits, in each case, with any lender party to the
Credit Agreement or with any domestic commercial bank having capital and surplus in excess
of $500.0 million and a rating at the time of acquisition thereof of P-1 or better from
Moody’s or A-1 or better from S&P;

     (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

 

     (5) commercial paper having, at the time of acquisition, one of the two highest ratings
obtainable from Moody’s or S&P and, in each case, maturing within one year after the date of
acquisition;

     (6) securities issued or fully guaranteed by any state or commonwealth of the United
States, or by any political subdivision or taxing authority thereof having, at the time of
acquisition, one of the two highest ratings obtainable from Moody’s or S&P, and, in each
case, maturing within one year after the date of acquisition; and

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

     “Cash Management Obligations” means any agreement with a Person who is, or was at the
time such Cash Management Obligations were incurred, a lender or an affiliate of a lender under the
Credit Agreement to provide cash management services, including treasury, depository, overdraft,
credit, purchase or debit card, electronic funds transfer and other cash management arrangements
including obligations for the payment of fees, interest, charges, expenses, attorneys’ fees and
disbursements in connection therewith to the extent provided for in the documents evidencing such
cash management services.

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

     (1) the direct or indirect sale, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets of Parent, the Company and Parent’s Restricted
Subsidiaries, in each case, taken as a whole, to any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) other than the Permitted Holders;

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

     (3) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” (as such terms are used
in Sections 13(d) of the Exchange Act), other than the Permitted Holders, becomes the
Beneficial Owner of more than 35% of the voting power of the Voting Stock of Parent unless
the Permitted Holders are the Beneficial Owners of more of the voting power of the Voting
Stock of Parent than such other “person” or “group”;

     (4) the first day on which a majority of the members of the Board of Directors of
Parent or the Company are not Continuing Directors; or

     (5) Parent ceases to be the owner, directly or indirectly, of 100% of the total voting
power of the Voting Stock of the Company.

     “Clearstream” means Clearstream Banking, S.A.

     “Code” means the Internal Revenue Code of 1986, as amended.

6

 

     “Collateral” means all property subject or purported to be subject, from time to time,
to a Lien under any Security Documents, but, in any event, excluding Excluded Assets.

     “Collateral Agent” means U.S. Bank National Association, acting in its capacity as
collateral agent under the Security Documents until a successor replaces it and, thereafter, means
the successor.

     “Company” means Swift Services Holdings, Inc., a Delaware corporation, and any and all
successors thereto.

     “Concurrent Transactions” means (i) the merger of Swift Corporation with and into
Parent, the conversion of all of the outstanding common stock of Swift Corporation into shares of
Parent Class B common stock on a one-for-one basis, the conversion of the outstanding stock options
of Swift Corporation into options to purchase shares of Class A common stock of Parent and the
cancellation of the stockholder loans, (ii) the sale of 73,300,000 shares of Class A common stock
of Parent in an initial public offering (and up to 10,995,000 additional shares of Class A common
stock to the underwriters thereof pursuant to an over-allotment option), (iii) Swift
Transportation’s entry into a new senior secured credit facility, (iv) the repayment of Swift
Transportation’s existing senior secured credit facility and (v) the repurchase of indebtedness
pursuant to an agreement with the largest holders of the Other Second Priority Secured Notes and
tender offers and consent solicitations with respect to the Other Second Priority Secured Notes.

     “Consolidated Cash Flow” means, for any period, the Consolidated Net Income of Parent
for such period plus, without duplication:

     (1) an amount equal to any extraordinary loss plus any net loss realized by Parent, the
Company or any of Parent’s Restricted Subsidiaries in connection with an Asset Sale, to the
extent such losses were deducted in computing such Consolidated Net Income; plus

     (2) provision for taxes based on income or profits of Parent, the Company and Parent’s
Restricted Subsidiaries for such period, to the extent that such provision for taxes was
deducted in computing such Consolidated Net Income; plus

     (3) the Fixed Charges of Parent, the Company and Parent’s Restricted Subsidiaries for
such period, to the extent that such Fixed Charges were deducted in computing such
Consolidated Net Income; plus

     (4) non-cash interest accruals attributable to the movement in the mark to market
valuation of Hedging Obligations pursuant to GAAP to the extent such losses were deducted in
computing such Consolidated Net Income; plus

     (5) depreciation, amortization (including amortization of intangibles and amortization
in relation to Hedging Obligations terminated on the Issue Date but excluding amortization
of prepaid cash expenses or debt issuance costs), non-cash impairment charges and other
non-cash expenses (excluding any such non-cash expense to the extent that it represents an
accrual of or reserve for cash expenses in any future

7

 

period or amortization of a prepaid cash expense) of Parent, the Company and Parent’s
Restricted Subsidiaries for such period to the extent that such depreciation, amortization,
non-cash impairment charges and other non-cash expenses were deducted in computing such
Consolidated Net Income; minus

     (6) non-cash items increasing such Consolidated Net Income for such period, other than
(x) the accrual of revenue in the ordinary course of business and (y) any items that
represent the reversal in such period of any accrual of, or cash reserve for, anticipated
charges made in any prior period,

in each case, on a consolidated basis and determined in accordance with GAAP.

     “Consolidated Interest Expense” means, for any period, the sum, without duplication
of:

     (1) the consolidated interest expense of Parent, the Company and Parent’s Restricted
Subsidiaries for such period, whether paid or accrued, including, without limitation,
amortization, expensing or write-off of original issue discount, non-cash interest payments,
the interest component of any deferred payment obligations, the interest component of all
payments associated with Capital Lease Obligations, imputed interest with respect to
Attributable Debt, commissions, discounts and other fees and charges incurred in respect of
letter of credit or bankers’ acceptance financings, and net of the effect of all payments
made or received pursuant to Hedging Obligations in respect of interest rates, but excluding
(A) debt issuance costs and (B) non-cash interest accruals associated with Hedging
Obligations in respect of interest rates, except in each case as set forth in clauses (2)
and (3) below; plus

     (2) non-cash interest accruals associated with Hedging Obligations, provided that any
non-cash interest income or expense attributable to the movement in the mark to market
valuation of Hedging Obligations pursuant to GAAP shall be excluded from the calculation of
Consolidated Interest Expense; plus

     (3) amortization of debt issuance cost, provided that any debt issuance cost associated
with the Concurrent Transactions shall be excluded from the calculation of Consolidated
Interest Expense; plus

     (4) the consolidated interest expense of Parent, the Company and Parent’s Restricted
Subsidiaries that was capitalized during such period; plus

     (5) any interest expense on Indebtedness of another Person that is guaranteed by
Parent, the Company or one of Parent’s Restricted Subsidiaries or secured by a Lien on
assets of Parent, the Company or one of Parent’s Restricted Subsidiaries, whether or not
such guarantee or Lien is called upon.

     “Consolidated Net Income” means, for any period, the aggregate of the Net Income of
Parent, the Company and Parent’s Restricted Subsidiaries for such period, on a consolidated basis,
determined in accordance with GAAP; provided that:

8

 

     (1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary of
Parent or that is accounted for by the equity method of accounting will be included only to
the extent that (x) such Net Income is actually dividended or distributed in cash to Parent,
the Company or a Restricted Subsidiary of Parent or (y) any of Parent, the Company or a
Restricted Subsidiary has the present ability to require such Unrestricted Subsidiary to
dividend or distribute such Net Income to Parent, the Company or such Restricted Subsidiary;

     (2) the Net Income of any Restricted Subsidiary of Parent will be excluded to the
extent that the declaration or payment of dividends or similar distributions by that
Restricted Subsidiary of that Net Income is not at the date of determination permitted
without any prior governmental approval (that has not been obtained) or, directly or
indirectly, by 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, except to the extent that any dividend or distribution is
actually made in cash and not otherwise included therein;

     (3) the cumulative effect of a change in accounting principles will be excluded;

     (4) any net gain (but not loss) resulting from an Asset Sale by Parent, the Company or
any of Parent’s Restricted Subsidiaries other than in the ordinary course of business will
be excluded; and

     (5) income or loss attributable to discontinued operations (including, without
limitation, operations disposed of during such period whether or not such operations were
classified as discontinued) will be excluded.

     “Continuing Directors” means, as of any date of determination, any member of the Board
of Directors of the Company or Parent, as the case may be, who:

     (1) was a member of such Board of Directors on the Issue Date, or

     (2) was nominated for election or elected to such Board of Directors by the Permitted
Holders or with the approval of a majority of the Continuing Directors who were members of
such Board of Directors at the time of such nomination or election.

     “Corporate Trust Office of the Trustee” will be at the address of the Trustee
specified in Section 13.02 hereof or such other address as to which the Trustee may give
notice to the Company.

     “Credit Agreement” means that certain credit agreement, dated as of the Issue Date, by
and among Swift Transportation, Parent, the lenders specified therein, Morgan Stanley Senior
Funding, Inc., as the syndication agent, Wells Fargo Bank, National Association, Citibank, N.A. and
PNC Capital Markets LLC as the documentation agents, Bank of America, N.A., as the administrative
agent, L/C issuer and swing line lender, and Morgan Stanley Senior Funding, Inc., as collateral
agent, including any related notes, guarantees, collateral documents, instruments and agreements
executed in connection therewith, and, in each case, as amended, restated, modified,

9

 

renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced
(including by means of sales of debt securities to institutional investors) in whole or in part
from time to time.

     “Credit Facilities” means, one or more debt facilities (including, without limitation,
the Credit Agreement) or commercial paper facilities, in each case, with banks or other
institutional lenders providing for revolving credit loans, term loans, 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 or issuances of debt
securities evidenced by notes, debentures, bonds or similar instruments, in each case, as amended,
restated, modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or
refinanced (including by means of sales of debt securities to institutional investors) in whole or
in part from time to time.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form,
or any successor entity thereto.

     “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.

     “Definitive Note” means a certificated Note registered in the name of the Holder
thereof and issued in accordance with Section 2.06 hereof, substantially in the form of
Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not
have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

     “Depositary” means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section 2.03 hereof as the Depositary with respect
to the Notes, and any and all successors thereto appointed as depositary hereunder and having
become such pursuant to the applicable provision of this Indenture.

     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of
any security into which it is convertible, or for which it is exchangeable, in each case, at the
option of the holder of the Capital Stock), or upon the happening of any event, matures or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the
option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91
days after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital
Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock have
the right to require the Company to repurchase such Capital Stock upon the occurrence of a change
of control or an asset sale will not constitute Disqualified Stock if the terms of such Capital
Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such
provisions unless such repurchase or redemption complies with Section 4.07. The amount of
Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the
maximum amount that Parent, the Company and Parent’s Restricted Subsidiaries may become obligated
to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such
Disqualified Stock, exclusive of accrued dividends.

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     “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).

     “Equity Offering” means an offer and sale of Capital Stock (other than Disqualified
Stock) of Parent (to the extent the net proceeds therefrom are contributed to the equity capital of
the Company) pursuant to a registration statement that has been declared effective by the SEC
pursuant to the Securities Act (other than a registration statement on Form S-8 or otherwise
relating to equity securities issuable under any employee benefit plan of Parent).

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

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Exchange Guarantees” means the Note Guarantees of Exchange Notes issued pursuant to
the Registration Rights Agreement.

     “Exchange Notes” means any Notes issued in the Exchange Offer pursuant to Section
2.06(f) hereof.

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

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

     “Excluded Assets” means the property and assets set forth in the last sentence of
Section 3.1 of the Security Agreement.

     “Fair Market Value” means the value that would be paid by a willing buyer to an
unaffiliated willing seller in a transaction not involving distress or necessity of either party,
and, in the case of any transaction involving aggregate consideration in excess of $10.0 million,
determined in good faith by the Board of Directors of the Company (unless otherwise provided in
this Indenture).

     “First Lien Agent” means the “First Priority Representative” under the Intercreditor
Agreement.

     “First Priority After-Acquired Property” means any property (other than the initial
collateral) of Parent, the Company or any Subsidiary Guarantor that secures any Secured Bank
Indebtedness.

     “First Priority Lien Obligations” means (i) all Secured Bank Indebtedness, (ii) all
other Obligations (not constituting Indebtedness) of Parent, the Company and Parent’s Restricted
Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other
Obligations of Parent, the Company or any of Parent’s Restricted Subsidiaries in respect of Hedging
Obligations or Cash Management Obligations, in each case owing to a Person that is, or was at the
time such obligations were incurred, a holder of Indebtedness described in clause (i) or
Obligations described in clause (ii) or an Affiliate of such holder at the time of entry
into such

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Hedging Obligations or Cash Management Obligations, as applicable, to the extent such Hedging
Obligations or Cash Management Obligations, as applicable, are secured by Liens on assets also
securing the Secured Bank Indebtedness (including all Obligations in respect thereof).

     “Fixed Charge Coverage Ratio” means, for any period, the ratio of the Consolidated
Cash Flow of Parent for such period to the Fixed Charges of Parent for such period. In the event
that Parent, the Company or any of Parent’s Restricted Subsidiaries incurs, assumes, guarantees,
repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than
ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent
to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and
on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage
Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be
calculated giving pro forma effect to such incurrence, assumption, guarantee, repayment,
repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase
or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had
occurred at the beginning of the applicable four-quarter reference period.

In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

     (1) acquisitions that have been made by Parent, the Company or any of Parent’s
Restricted Subsidiaries, including through mergers or consolidations, or any Person acquired
by Parent, the Company or any of Parent’s Restricted Subsidiaries, and including any related
financing transactions and including increases in ownership of Restricted Subsidiaries,
during the four-quarter reference period or subsequent to such reference period and on or
prior to the Calculation Date will be given pro forma effect (in accordance with Regulation
S-X under the Securities Act) as if they had occurred on the first day of the four-quarter
reference period;

     (2) the Consolidated Cash Flow attributable to discontinued operations, as determined
in accordance with GAAP, and operations or businesses (and ownership interests therein)
disposed of prior to the Calculation Date will be excluded;

     (3) the Fixed Charges attributable to discontinued operations, as determined in
accordance with GAAP, and operations or businesses (and ownership interests therein)
disposed of prior to the Calculation Date will be excluded, but only to the extent that the
obligations giving rise to such Fixed Charges will not be obligations of Parent, the Company
or any of Parent’s Restricted Subsidiaries following the Calculation Date;

     (4) any Person that is a Restricted Subsidiary of Parent on the Calculation Date will
be deemed to have been a Restricted Subsidiary at all times during such four-quarter period;

     (5) any Person that is not a Restricted Subsidiary of Parent on the Calculation Date
will be deemed not to have been a Restricted Subsidiary at any time during such four-quarter
period; and

     (6) if any Indebtedness bears a floating rate of interest, the interest expense on such
Indebtedness will be calculated as if the rate in effect on the Calculation Date had

12

 

been the applicable rate for the entire period (taking into account any Hedging
Obligation applicable to such Indebtedness if such Hedging Obligation has a remaining term
as at the Calculation Date in excess of 12 months).

     “Fixed Charges” means, for any period, the sum, without duplication, of:

     (1) the Consolidated Interest Expense of Parent for such period; plus

     (2) the product of (a) all dividends, whether paid or accrued and whether or not in
cash, on any series of preferred stock of Parent, the Company or any of Parent’s Restricted
Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of
Parent (other than Disqualified Stock) or to Parent, the Company or a Restricted Subsidiary
of Parent, times (b) a fraction, the numerator of which is one and the denominator
of which is one minus the then current combined federal, state and local statutory
tax rate of such Person, expressed as a decimal, in each case, determined on a consolidated
basis in accordance with GAAP.

     “Foreign Subsidiary” means any direct or indirect Subsidiary of Parent that is not
organized under the laws of the United States or any state of the United States or the District of
Columbia (which term shall include any Subsidiary organized under the laws of Puerto Rico).

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are in effect on the date of this Indenture.

     “Global Note Legend” means the legend set forth in Section 2.06(g)(2), which
is required to be placed on all Global Notes issued under this Indenture.

     “Global Notes” means, individually and collectively, the Restricted Global Notes and
the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the
Depositary or its nominee, substantially in the form of Exhibit A hereto, and that bears
the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note”
attached thereto, issued in accordance with Section 2.01, 2.06(b)(3),
2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof.

     “Government Securities” means securities that are direct non-callable obligations of,
or guaranteed by, the United States of America for the timely payment of which its full faith and
credit is pledged.

     “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, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of
partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or
services, to take or pay or to maintain financial statement conditions or otherwise).

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     “guarantors” means each of (i) the Parent and its successors and assigns until the
Note Guarantee of the Parent has been released in accordance with the provisions of this Indenture
and (ii) the Subsidiary Guarantors.

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

     (1) interest rate swap agreements (whether from fixed to floating or from floating to
fixed), interest rate cap agreements and interest rate collar agreements;

     (2) other agreements or arrangements designed to manage interest rates or interest rate
risk; and

     (3) other agreements or arrangements designed to protect such Person against
fluctuations in currency exchange rates or commodity prices.

     “Holder” means a Person in whose name a Note is registered.

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

     “Indebtedness” means, with respect to any specified Person, any indebtedness of such
Person (excluding accrued expenses and trade payables), whether or not contingent, without
duplication:

     (1) in respect of borrowed money;

     (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit
(or reimbursement agreements in respect thereof);

     (3) in respect of bankers’ acceptances;

     (4) representing Capital Lease Obligations or Attributable Debt in respect of sale and
leaseback transactions;

     (5) representing the balance deferred and unpaid of the purchase price of any property
or services due more than six months after such property is acquired or such services are
completed; or

     (6) representing any Hedging Obligations,

if and to the extent any of the preceding items (other than letters of credit, Attributable Debt
and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person
prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of
others secured by a Lien on any asset of the specified Person (whether or not

14

 

such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included,
the guarantee by the specified Person of any Indebtedness of any other Person.

     The amount of any Indebtedness outstanding as of any date will be:

     (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with
original issue discount;

     (2) the principal amount of the Indebtedness, in the case of any other Indebtedness;
and

     (3) in respect of Indebtedness of another Person secured by a Lien on the assets of the
specified Person, the lesser of:

     (a) the Fair Market Value of such assets at the date of determination; and

     (b) the amount of the Indebtedness of the other Person.

     “Indenture” means this Indenture, as amended or supplemented from time to time.

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

     “Initial Notes” means the first $500.0 million aggregate principal amount of Notes
issued under this Indenture on the date hereof.

     “Initial Purchasers” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. Incorporated, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Deutsche
Bank Securities Inc. and UBS Securities LLC.

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

     “Intercreditor Agreement” means the intercreditor agreement among Morgan Stanley
Senior Funding, Inc., as the collateral agent under the Credit Agreement, the Collateral Agent, the
Company, Parent and each Subsidiary Guarantor, as it may be amended from time to time in accordance
with this Indenture.

     “interest” with respect to the Notes means interest with respect thereto, and shall
include Additional Interest, if any.

     “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 (A) advances to customers in the
ordinary course of business that are recorded as accounts receivable on the consolidated balance
sheet of such Person and (B) commission, travel and similar advances to officers and employees made
in the ordinary course of business), purchases or other acquisitions for consideration of

15

 

Indebtedness, Equity Interests or other securities, together with all items that are or would
be classified as investments on a balance sheet of such Person prepared in accordance with GAAP. If
Parent, the Company or any Restricted Subsidiary of Parent sells or otherwise disposes of any
Equity Interests of any direct or indirect Subsidiary of Parent such that, after giving effect to
any such sale or disposition, such Person is no longer a Subsidiary of Parent, Parent will be
deemed to have made an Investment on the date of any such sale or disposition equal to the Fair
Market Value of Parent’s Investments in such Subsidiary that were not sold or disposed of in an
amount determined as provided in Section 4.07(c). The acquisition by Parent, the Company or
any Restricted Subsidiary of Parent of a Person that holds an Investment in a third Person will be
deemed to be an Investment by Parent, the Company or such Restricted Subsidiary in such third
Person in an amount equal to the Fair Market Value of the Investments held by the acquired Person
in such third Person in an amount determined as provided in Section 4.07(c). Except as
otherwise provided in this Indenture, the amount, or Fair Market Value, of an Investment will be
determined at the time the Investment is made and without giving effect to subsequent changes in
value.

     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s Investors Service, Inc. and BBB- (or the equivalent) by Standard & Poor’s
Ratings Group, Inc., in each case, with a stable or better outlook.

     “Issue Date” means December 21, 2010, the date on which the Notes are originally
issued.

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

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or
otherwise perfected under applicable law, including any conditional sale or other title retention
agreement, any lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing statement under the
Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

     “Marketable Securities” means any equity securities that are (i) not subject to any
transfer restrictions arising under contract or applicable laws (including under federal and state
securities laws); and (ii) traded on the New York Stock Exchange, the American Stock Exchange or
the Nasdaq National Market; and (iii) issued by a corporation having a total equity market
capitalization of not less than $250.0 million; provided, that the excess of (A) the
aggregate amount of securities of any one such corporation held by Parent, the Company and any
Restricted Subsidiary over (B) ten times the average daily trading volume of such securities during
the 20 immediately preceding trading days shall be deemed not to be Marketable Securities.

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

     “Mortgage” means each mortgage, deed of trust or agreement executed and delivered by
the Company or any Subsidiary Guarantor in favor of the Collateral Agent pursuant to the

16

 

requirements of this Indenture in form and substance reasonably satisfactory to the Collateral
Agent, under which a Lien is granted on the real property and fixtures described therein, in each
case as amended, supplemented, amended and restated or otherwise modified from time to time.

     “Motor Vehicles” means motor vehicles, trailers, and related equipment owned or leased
by Parent or any of its Restricted Subsidiaries.

     “Net Income” means, with respect to any specified Person, the net income (loss) of
such Person, determined in accordance with GAAP and before any reduction in respect of preferred
stock dividends, excluding, however:

     (1) any gain (or loss), together with any related provision for taxes on such gain (or
loss), realized in connection with: (a) any Asset Sale; or (b) the disposition of any
securities by such Person or any of its Restricted Subsidiaries or the extinguishment of any
Indebtedness of such Person or any of its Restricted Subsidiaries; and

     (2) any extraordinary or nonrecurring gain (or loss), together with any related
provision for taxes on such extraordinary or nonrecurring gain (or loss).

     “Net Proceeds” means the aggregate cash proceeds received by Parent, the Company or
any of Parent’s Restricted Subsidiaries in respect of any Asset Sale (including, without
limitation, any cash received upon the sale or other disposition of any non-cash consideration
received in any Asset Sale), net of (i) the direct costs relating to such Asset Sale, including,
without limitation, legal, accounting and investment banking fees, and sales commissions, and any
relocation expenses incurred as a result of the Asset Sale, taxes paid or payable as a result of
the Asset Sale, in each case, after taking into account any available tax credits or deductions and
any tax sharing arrangements, (ii) amounts required to be applied to the repayment of Indebtedness,
other than the repayment of First Priority Lien Obligations, secured by a Lien on the asset or
assets that were the subject of such Asset Sale and (iii) any reserve for adjustment in respect of
the sale price of such asset or assets established in accordance with GAAP or amount placed in an
escrow established for purposes of such an adjustment.

     “Non-Recourse Debt” means Indebtedness:

     (1) as to which neither Parent, the Company nor any of Parent’s Restricted Subsidiaries
(a) provides credit support of any kind (including any undertaking, agreement or instrument
that would constitute Indebtedness), other than a pledge of the Equity Interests of
Unrestricted Subsidiaries, (b) is directly or indirectly liable (as a guarantor or
otherwise), other than by virtue of a pledge of the Equity Interests of Unrestricted
Subsidiaries, or (c) constitutes the lender; and

     (2) no default with respect to which (including any rights that the holders of the
Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would
permit, upon notice, lapse of time or both, any holder of any other Indebtedness (other than
the Notes) of Parent, the Company or any of Parent’s Restricted Subsidiaries to declare a
default on such other Indebtedness or cause the payment of the Indebtedness to be
accelerated or payable prior to its Stated Maturity.

17

 

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

     “Note Guarantee” means the guarantee by Parent and each Subsidiary Guarantor of the
Company’s obligations under this Indenture and the Notes contained in this Indenture and the
Exchange Notes issued in a registered exchange offer pursuant to the Registration Rights Agreement
by a Subsidiary Guarantor pursuant to the terms of the Indenture and any supplemental indenture
thereto.

     “Notes” means the 10.000% Senior Second Priority Secured Notes due 2018 of the Company
issued pursuant to this Indenture, including the Initial Notes, any Additional Notes and, if and
when issued, the Exchange Notes. The Initial Notes, the Additional Notes and the Exchange Notes
shall be treated as a single class for all purposes under this Indenture, and unless the context
otherwise requires, all references to the Notes shall include the Initial Notes, any Additional
Notes and, if and when issued, the Exchange Notes.

     “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages, costs, expenses and other liabilities payable under the documentation
governing any Indebtedness.

     “Offering Memorandum” means the certain offering memorandum issued December 15, 2010
by the Company relating to the offering of the Initial Notes.

     “Officer” means, with respect to any Person, the Chairman of the Board of Directors,
the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial
Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Senior Vice
President, any Executive Vice President, any Vice President or any Assistant Vice President of such
Person.

     “Officers’ Certificate” means a certificate signed on behalf of the Company by at
least two Officers of the Company, one of whom must be the principal executive officer, the
principal financial officer, the treasurer or the principal accounting officer of the Company, that
meets the requirements of Section 13.05 hereof.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable
to the Trustee, that meets the requirements of Section 13.05 hereof. The counsel may be an
employee of or counsel to the Company or any Subsidiary of the Company.

     “Other Second Priority Secured Notes” means (i) the outstanding Second-Priority Senior
Secured Floating Rate Notes due 2015, issued by Swift Transportation pursuant to that certain
indenture, dated as of May 10, 2007, among Swift Corporation, the guarantors thereto and U.S. Bank
National Association, as trustee, and (ii) the outstanding 12 1/2% Second-Priority Senior Secured Fix
Rate Notes due 2017, issued by Swift Transportation pursuant to that certain indenture, dated as of
May 10, 2007, among Swift Corporation, the guarantors thereto and U.S. Bank National Association,
as trustee, and any refinancings thereof permitted pursuant to the terms of the indentures.

     “Parent” means Swift Transportation Company, a Delaware corporation, and any and all
successors thereto.

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     “Pari Passu Indebtedness” means:

     (1) with respect to the Company, the Notes and any Indebtedness that ranks pari
passu in right of payment to the Notes (without regard to lien priority); and

     (2) with respect to Parent and any Subsidiary Guarantor, its Note Guarantee and any
Indebtedness that ranks pari passu in right of payment to Parent’s or such
Guarantor’s Note Guarantee (without regard to lien priority).

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

     “Participating Broker-Dealer” has the meaning set forth in the Registration Rights
Agreement.

     “Permitted Business” means the businesses of the Company and its Subsidiaries engaged
in on Issue Date and any other activities that are similar, ancillary, reasonably related or
complementary to, or a reasonable extension, expansion or development of, such businesses or
ancillary thereto.

     “Permitted Holders” means Jerry Moyes and the Related Parties. Any person or group
whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a
Change of Control Offer is made in accordance with the requirements of this Indenture will
thereafter, together with its Affiliates, constitute an additional Permitted Holder.

     “Permitted Investments” means:

     (1) any Investment in the Company or in a Subsidiary Guarantor;

     (2) any Investment in cash, Cash Equivalents or Marketable Securities;

     (3) any Investment by Parent, the Company or any Subsidiary Guarantor in a Person, if
as a result of such Investment:

     (a) such Person becomes a Subsidiary Guarantor; 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, Parent, the Company or a
Subsidiary Guarantor;

     (4) any Investment made as a result of the receipt of non-cash consideration from an
Asset Sale that was made pursuant to and in compliance with Section 4.10;

     (5) any Investment the payment for which consists of Equity Interests (other than
Disqualified Stock) of Parent;

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     (6) any Investments received in compromise or resolution of (A) obligations of trade
creditors or customers that were incurred in the ordinary course of business of Parent, the
Company or any of Parent’s Restricted Subsidiaries, including pursuant to any plan of
reorganization or similar arrangement upon the bankruptcy or insolvency of any trade
creditor or customer; or (B) litigation, arbitration or other disputes with Persons who are
not Affiliates;

     (7) Investments represented by Hedging Obligations;

     (8) loans or advances to officers, directors, consultants and employees of Parent, the
Company or any Restricted Subsidiary of Parent made in the ordinary course of business in an
aggregate principal amount not to exceed $5.0 million at any one time outstanding;

     (9) repurchases of the Notes;

     (10) guarantees issued in accordance with Sections 4.09 and 4.19;

     (11) any Investment existing on the Issue Date and any Investment that replaces,
refinances or refunds an existing Investment; provided, that the new Investment is
in an amount that does not exceed the amount replaced, refinanced or refunded, and is made
in the same Person as the Investment replaced, refinanced or refunded;

     (12) receivables owing to Parent, the Company or any Restricted Subsidiary of Parent
created or acquired in the ordinary course of business and payable or dischargeable in
accordance with customary trade terms;

     (13) (A) payroll and similar advances to cover matters that are expected at the time of
such advances ultimately to be treated as expenses for accounting purposes (B) loans or
advances for driver education or training or (C) loans or advances to owner operators, that,
in each case, are made in the ordinary course of business;

     (14) lease, utilities, workers’ compensation, performance and similar deposits made in
the ordinary course of business;

     (15) Investments in the Captive Insurance Companies to the extent that such Investments
shall not exceed the minimum amount of capitalization required pursuant to applicable
regulatory capital requirements;

     (16) advances in the ordinary course of business to any owner operator or similar
individual performing services for Parent or any of its Restricted Subsidiaries to finance
the purchase or lease of Motor Vehicles or other equipment, provided that the Parent or such
Restricted Subsidiary has a Lien on the Motor Vehicles or other equipment purchased or
leased;

     (17) Investments in a Receivables Subsidiary or in any Person by a Receivables
Subsidiary in connection with a Qualified Receivables Transaction;

20

 

     (18) Investments in a Foreign Subsidiary in an aggregate amount which, when taken
together with all Investments made pursuant to this clause (18) since the Issue Date
shall not exceed $50.0 million in the aggregate;

     (19) Investments made in any other Restricted Subsidiary that is not a Subsidiary
Guarantor, which when taken together with all other Investments that are at the time
outstanding, shall not exceed $50.0 million in aggregate amount at any one time outstanding;
and

     (20) additional Investments, when taken together with all other Investments made
pursuant to this clause (20) that are at the time outstanding, not to exceed $40.0
million at any one time outstanding;

provided, however, that with respect to any Investment, the Company may, in its
sole discretion, allocate all or any portion of any Investment to one or more of the above
clauses (1) through (20) so that all or a portion of the Investment would be a
Permitted Investment.

     “Permitted Liens” means:

     (1) Liens securing an aggregate principal amount of First Priority Lien Obligations not
to exceed the aggregate amount of Indebtedness permitted to be incurred pursuant to
clause (1) of the definition of “Permitted Debt;” provided that second priority
Liens are granted to secure the Notes and the Note Guarantees as set forth in Section
4.12;

     (2) Liens in favor of Parent, the Company or any of Parent’s Restricted Subsidiaries;

     (3) Liens on property of a Person existing at the time such Person is merged with or
into or consolidated with Parent, the Company or any Restricted Subsidiary of Parent;
provided that such Liens were not incurred in contemplation of such merger or
consolidation and do not extend to any assets other than those of the Person merged into or
consolidated with Parent, the Company or the Restricted Subsidiary;

     (4) Liens on property (including Capital Stock) of a Person existing at the time of
acquisition of the property (including Capital Stock) by Parent, the Company or any
Restricted Subsidiary of Parent; provided that such Liens were in existence prior
to, such acquisition, and not incurred in contemplation of, such acquisition and do not
extend to any property other than the property so acquired by Parent, the Company or such
Restricted Subsidiary;

     (5) Liens or deposits to secure the performance of statutory or regulatory obligations,
or surety, appeal or performance bonds or other obligations of a like nature or deposits in
connection with tenders, bids, leases, trade contracts, governmental contracts, or other
similar obligations (other than for the payment of Indebtedness), in each case incurred in
the ordinary course of business;

21

 

     (6) Liens securing reimbursement obligations with respect to commercial letters of
credit which encumber documents and other assets relating to such letters of credit and
products and proceeds thereof;

     (7) Liens to secure Indebtedness permitted to be incurred pursuant to clause
(3) of the definition of “Permitted Debt” covering only the assets acquired with or
financed by such Indebtedness;

     (8) Liens existing on the Issue Date (other than Liens of the type specified in
clause (1) above);

     (9) Liens for taxes, assessments or governmental charges or claims that are not yet
delinquent or that are being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted; provided that any reserve or other appropriate
provision as is required in conformity with GAAP has been made therefor;

     (10) Liens created for the benefit of (or to secure) the Notes (or the Note
Guarantees);

     (11) Liens imposed by law (including, without limitation, Liens in favor of customers
for equipment under order or in respect of advances paid in connection therewith), such as
carriers’, warehousemen’s, landlord’s, lessor’s, suppliers, banks, repairmen’s and
mechanics’ Liens, in each case, incurred in the ordinary course of business;

     (12) Liens incurred or deposits made in the ordinary course of business to secure
payment of workers’ compensation or to participate in any fund in connection with workmen’s
compensation, unemployment insurance, old-age pensions or other social security programs;

     (13) easements, rights of way, zoning and similar restrictions, reservations (including
severances, leases or reservations of oil, gas, coal, minerals or water rights),
restrictions or encumbrances in respect of real property or title defects that were not
incurred in connection with Indebtedness and that do not in the aggregate materially
adversely affect the value of said properties (as such properties are used by the Company or
its Subsidiaries) or materially impair their use in the operation of the business of the
Company and its Subsidiaries;

     (14) Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred
under this Indenture; provided, however, that:

     (a) the new Lien shall be limited to all or part of the same property and
assets that secured or, under the written agreements pursuant to which the original
Lien arose, could secure the original Lien (plus improvements or accessions to such
property or proceeds or distributions thereof); and

     (b) the Indebtedness secured by the new Lien is not increased to any amount
greater than the sum of (x) the outstanding principal amount, or, if

22

 

greater, committed amount, of the Permitted Refinancing Indebtedness and (y) an
amount necessary to pay any fees and expenses, including premiums, related to such
renewal, refunding, refinancing, replacement, defeasance or discharge;

     (15) Liens arising from precautionary Uniform Commercial Code financing statement
filings regarding operating leases entered into by Parent, the Company or any of Parent’s
Restricted Subsidiaries in the ordinary course of business;

     (16) judgment Liens not giving rise to an Event of Default so long as such Lien is
adequately bonded and any appropriate legal proceedings that may have been duly initiated
for the review of such judgment shall not have been finally terminated or the period within
which such legal proceedings may be initiated shall not have expired;

     (17) Liens securing Hedging Obligations incurred pursuant to clause (7) of the
definition of “Permitted Debt;”

     (18) any extension, renewal or replacement, in whole or in part, of any Lien described
in clauses (3), (4), (7) or (8) of the definition of
“Permitted Liens”; provided that any such extension, renewal or replacement is no
more restrictive in any material respect than the Lien so extended, renewed or replaced and
does not extend to any additional property or assets;

     (19) bankers liens and rights of set-off with respect to customary depositary
arrangements entered into in the ordinary course of business of Parent and its Restricted
Subsidiaries;

     (20) Liens on accounts receivable, leases or other financial assets incurred in
connection with a Qualified Receivables Transaction;

     (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;

     (22) Liens on insurance policies and the proceeds thereof securing the financing of the
premiums with respect thereto;

     (23) Liens arising out of conditional sale, title retention, consignment or similar
arrangements for sale of goods entered into by Parent and its Restricted Subsidiaries in the
ordinary course of business;

     (24) Liens to secure Capital Lease Obligations incurred pursuant to clause (14)
of the definition of “Permitted Debt” covering only the assets acquired with or financed by
such Capital Lease Obligations;

     (25) Liens to secure Attributable Debt incurred pursuant to the Fixed Charge Coverage
Ratio test set forth in Section 4.09(a) in respect of sale and leaseback
transactions that are otherwise permitted to be entered into by Parent, the Company or any
Restricted Subsidiary in accordance with Section 4.17 in an aggregate amount at any
one time outstanding not to exceed $500.0 million;

23

 

     (26) licenses or sublicenses granted to others in the ordinary course of business;

     (27) Liens securing First Priority Lien Obligations if, on the date of such incurrence
the Secured First Priority Leverage Ratio for Parent’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 would have less than 2.75 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 at the beginning of such
four-quarter period; and

     (28) other Liens securing Indebtedness that is permitted by the terms of this Indenture
to be outstanding having an aggregate principal amount at any one time outstanding not to
exceed $25.0 million.

     “Permitted Refinancing Indebtedness” means any Indebtedness of Parent, the Company or
any of Parent’s Restricted Subsidiaries (other than Disqualified Stock) issued in exchange for, or
the net proceeds of which are used to renew, refund, refinance, replace, exchange, defease or
discharge other Indebtedness of Parent, the Company or any of Parent’s Restricted Subsidiaries
(other than intercompany Indebtedness); provided that:

     (1) the principal amount (or accreted value, if applicable) of such Permitted
Refinancing Indebtedness does not exceed the principal amount (or accreted value, if
applicable) of the Indebtedness renewed, refunded, refinanced, replaced, defeased or
discharged (plus any accrued interest and premium required to be paid on the Indebtedness
being so renewed, refunded, refinanced, replaced, defeased or discharged, plus the amount of
all fees and expenses incurred in connection therewith);

     (2) such Permitted Refinancing Indebtedness has a final maturity date equal to or later
than the final maturity date of, and has a Weighted Average Life to Maturity equal to or
greater than the remaining Weighted Average Life to Maturity of, the Indebtedness being
renewed, refunded, refinanced, replaced, defeased or discharged;

     (3) if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or
discharged is subordinated in right of payment to the Notes or the Note Guarantees, such
Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes and the
Note Guarantees on terms at least as favorable to the Holders of Notes and Note Guarantees
as those contained in the documentation governing the Indebtedness being renewed, refunded,
refinanced, replaced, defeased or discharged; and

     (4) Permitted Refinancing Indebtedness shall not include (x) Indebtedness of a
Restricted Subsidiary of Parent that is not a Subsidiary Guarantor that refinances
Indebtedness of Parent, the Company or a Restricted Subsidiary of Parent that is a
Subsidiary Guarantor, or (y) Indebtedness of Parent, the Company or a Restricted Subsidiary
of Parent that refinances Indebtedness of an Unrestricted Subsidiary.

24

 

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

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) to
be placed on all Notes issued under this Indenture except where otherwise permitted by the
provisions of this Indenture.

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

     “Qualified Receivables Transaction” means any Receivables Transaction of a Restricted
Subsidiary that meets the following conditions:

     (1) the Board of Directors of the Company shall have determined in good faith that such
Qualified Receivables Transaction (including financing terms, covenants, termination events
and other provisions) is in the aggregate economically fair and reasonable to the Company
and the Restricted Subsidiary;

     (2) all sales of accounts receivable and related assets to the Restricted Subsidiary
are made at Fair Market Value (as determined in good faith by the Company); and

     (3) the financing terms, covenants, termination events and other provisions thereof
shall be market terms (as determined in good faith by the Company) and may include Standard
Securitization Undertakings.

     The grant of a security interest in any accounts receivable of the Company or any of its
Restricted Subsidiaries to secure Indebtedness under the Credit Agreement shall not be deemed a
Qualified Receivables Transaction.

     “Rating Agencies” means Standard & Poor’s Ratings Group, Inc. and Moody’s Investors
Service, Inc. or if Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc. or
both shall not make a rating on the Notes publicly available, a nationally recognized statistical
rating agency or agencies, as the case may be, selected by the Company (as certified by a
resolution of the Board of Directors) which shall be substituted for Standard & Poor’s Ratings
Group, Inc. or Moody’s Investors Service, Inc. or both, as the case may be.

     “Receivables Subsidiary” means a wholly owned Restricted Subsidiary of Parent (or
another person formed for the purposes of engaging in Qualified Receivables Transactions with
Parent in which Parent or any Subsidiary of Parent makes an Investment and to which Parent or any
Subsidiary of Parent transfers accounts receivable and related assets) which engages in no
activities other than in connection with the financing of accounts receivable of Parent and its
Subsidiaries, all proceeds thereof and all rights (contractual or 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 of the Company (as provided below) as a Receivables
Subsidiary and:

25

 

     (1) no portion of the Indebtedness or any other obligations (contingent or otherwise)
of which (i) is guaranteed by Parent or any other Subsidiary of Parent (excluding guarantees
of obligations (other than the principal of and interest on, Indebtedness) pursuant to
Standard Securitization Undertakings), (ii) is recourse to or obligates Parent or any other
Subsidiary of Parent in any way other than pursuant to Standard Securitization Undertakings,
or (iii) subjects any property or asset of Parent or any other Subsidiary of Parent,
directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than
pursuant to Standard Securitization Undertakings;

     (2) with which neither Parent nor any other Subsidiary of Parent has any material
contract, agreement, arrangement or understanding other than on terms which Parent
reasonably believes to be no less favorable to Parent or such Subsidiary than those that
might be obtained at the time from Persons that are not Affiliates of Parent; and

     (3) to which neither Parent not any other Subsidiary of Parent 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 of the Company shall be evidenced to the
Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of
the Company giving effect to such designation and an Officers’ Certificate certifying that such
designation complies with the foregoing conditions.

     “Receivables Transaction” means any transaction or series of transactions entered into
by Parent or any of its Restricted Subsidiaries pursuant to which any Person issues interests, the
proceeds of which are used to finance a discrete pool (which may be fixed or revolving) of
receivables, leases or other financial assets (including, without limitation, financing contracts),
or a discrete portfolio of real property or equipment (in each case whether now existing or arising
in the future), and which may include a grant of a security interest in any such receivables,
leases, other financial assets, real property or equipment (whether now existing or arising in the
future) of Parent or any of its Restricted Subsidiaries, and any assets related thereto, including,
all collateral securing such receivables, leases, other financial assets, real property or
equipment, all contracts and all guarantees or other obligations in respect thereof, proceeds
thereof and other assets that are customarily transferred, or in respect of which security
interests are customarily granted, in connection with asset securitization transactions involving
receivables, leases, other financial assets, real property or equipment.

     “Registration Rights Agreement” means that certain registration rights agreement dated
as of the Issue Date by and among Parent, the Company, the Subsidiary Guarantors and the Initial
Purchasers and, with respect to any Additional Notes, one or more substantially similar
registration rights agreements among the Company and the other parties thereto, as such agreements
may be amended from time to time.

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

     “Regulation S Global Note” means a Temporary Regulation S Global Note or Regulation S
Permanent Global Note, as appropriate.

26

 

     “Regulation S Permanent Global Note” means a permanent global Note substantially in
the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement
Legend and deposited with or on behalf of and registered in the name of the Depositary or its
nominee, issued in a denomination equal to the outstanding principal amount of the Temporary
Regulation S Global Note upon expiration of the Restricted Period.

     “Related Party” means:

     (1) any immediate family member of Jerry Moyes;

     (2) in the event of the death or permanent disability of Jerry Moyes, any heir or
devisee of Jerry Moyes, or any executor or similar legal representative of Jerry Moyes
pending final disposition of his Equity Interests in Parent; and

     (3) any trust, corporation, partnership, limited liability company or other entity, the
beneficiaries, stockholders, partners, members, owners or Persons beneficially holding
(directly or through one or more Subsidiaries) a 51% or more controlling interest of which
consist of Jerry Moyes or any one or more such other Persons referred to in clause
(2).

     “Representatives” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. Incorporated and Wells Fargo Securities, LLC.

     “Responsible Officer,” when used with respect to the Trustee, means any officer within
the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any
other officer of the Trustee customarily performing functions similar to those performed by any of
the above designated officers and also means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of his knowledge of and familiarity with
the particular subject and who shall have direct responsibility for the administration of this
Indenture.

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

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

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

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

     “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that
is not an Unrestricted Subsidiary.

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

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

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

27

 

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

     “S&P” means Standard & Poor’s Ratings Services and its successors and assigns.

     “SEC” means the U.S. Securities and Exchange Commission.

     “Secured First Priority Leverage Ratio” means, for any period, the ratio of the sum of
the aggregate outstanding First Priority Lien Obligations of Parent as of the end of the most
recent fiscal quarter for which internal financial statements prepared on a consolidated basis in
accordance with GAAP are available to the Consolidated Cash Flow of Parent for such period. In the
event that Parent, the Company or any Subsidiary Guarantor incurs, assumes, guarantees, repays,
repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary
working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the
commencement of the period for which the Secured First Priority Leverage Ratio is being calculated
and on or prior to the date on which the event for which the calculation of the Secured First
Priority Leverage Ratio is made, then the Secured First Priority Leverage Ratio will be calculated
giving pro forma effect to such incurrence, assumption, guarantee, repayment, repurchase,
redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or
redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred
at the beginning of the applicable four-quarter reference period. The Secured First Priority
Leverage Ratio shall be calculated in a manner consistent with the definition of “Fixed Charge
Coverage Ratio,” including any pro forma adjustments to Consolidated Cash Flow and Indebtedness as
set forth therein (including for acquisitions).

     “Secured Bank Indebtedness” means any Indebtedness under the Credit Facilities that is
secured by a Permitted Lien incurred or deemed incurred pursuant to clause (1) of the
definition of “Permitted Liens”.

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

     “Security Agreement” means the Pledge and Security Agreement, among the Company,
Parent and each Subsidiary Guarantor, as grantors, and the Collateral Agent, as it may be amended
from time to time in accordance with this Indenture.

     “Security Documents” means the security agreements, pledge agreements, collateral
assignments and related agreements, as amended, supplemented, restated, renewed, refunded,
replaced, restructured, repaid, refinanced or otherwise modified from time to time, creating the
security interests in the Collateral as contemplated by this Indenture.

     “Senior Unsecured Pari Passu Indebtedness” means:

     (1) with respect to the Company, any Indebtedness that ranks pari passu in right of
payment to the Notes but is unsecured; and

     (2) with respect to Parent and any Subsidiary Guarantor, any Indebtedness that ranks
pari passu in right of payment to Parent’s or such Guarantor’s Note Guarantee but is
unsecured.

28

 

     “Shelf Registration Statement” shall have the meaning set forth in the Registration
Rights Agreement.

     “Significant Subsidiary” means any 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 Issue Date.

     “Standard Securitization Undertakings” means representations, warranties, covenants
and indemnities entered into by Parent or any of its Restricted Subsidiaries that are reasonably
customary (as determined in good faith by Parent) in an accounts receivable transaction.

     “Stated Maturity” means, with respect to any installment of interest or principal on
any series of Indebtedness, the date on which the final payment of interest or principal was
scheduled to be paid in the documentation governing such Indebtedness as of the Issue Date or, if
such Indebtedness is incurred after the Issue Date, 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.

     “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 and after giving effect to any voting agreement or stockholders’ agreement
that effectively transfers voting power) to vote in the election of directors, managers or
trustees of the corporation, association or other business entity 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 (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such Person or (b) the only general partners of
which are that Person or one or more Subsidiaries of that Person (or any combination
thereof).

     “Subsidiary Guarantors” means each of:

     (1) the Subsidiaries of Parent (other than the Company) that execute this Indenture on
the Issue Date; and

     (2) any other Subsidiary of Parent that thereafter guarantees the Notes pursuant to the
provisions of this Indenture,

and their respective successors and assigns, in each case, until the Note Guarantee of such Person
has been released in accordance with the provisions of this Indenture.

     “Swift Corporation” means Swift Corporation, a Nevada corporation.

     “Swift Transportation” means Swift Transportation Co., LLC, a Delaware limited
liability company.

29

 

     “Temporary Regulation S Global Note” means a temporary Global Note substantially in
the form of Exhibit A hereto bearing the Global Note Legend, the Private Placement Legend
and the legend specified in Section 2.06(g)(3) and deposited with or on behalf of and
registered in the name of the Depositary or its nominee, issued in a denomination equal to the
outstanding principal amount of the Notes initially sold in reliance on Rule 903 of Regulation S.

     “TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as in
effect the Issue Date.

     “Treasury Rate” means, as of any 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 the 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 the redemption date to November 15, 2014; provided, however, that if the
period from the redemption date to November 15, 2014 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.

     “Trustee” means the party named as such in the preamble to this Indenture until a
successor replaces it in accordance with the applicable provisions of this Indenture and thereafter
means the successor serving hereunder.

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

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

     “Unrestricted Subsidiary” means any Subsidiary of Parent (other than the Company) that
is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a
resolution of the Board of Directors, but only to the extent that such Subsidiary:

     (1) has no Indebtedness other than Non-Recourse Debt;

     (2) except as permitted by Section 4.11, is not party to any agreement,
contract, arrangement or understanding with Parent, the Company or any Restricted Subsidiary
of Parent unless the terms of any such agreement, contract, arrangement or understanding are
no less favorable to Parent, the Company or such Restricted Subsidiary than those that might
be obtained at the time from Persons who are not Affiliates of the Company;

     (3) is a Person with respect to which none of Parent, the Company or any of Parent’s
Restricted Subsidiaries has any direct or indirect obligation (a) to subscribe for
additional Equity Interests or (b) to maintain or preserve such Person’s financial condition
or to cause such Person to achieve any specified levels of operating results; and

30

 

     (4) has not guaranteed or otherwise directly or indirectly provided credit support for
any Indebtedness of Parent, the Company or any of Parent’s Restricted Subsidiaries.

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

     “Voting Stock” of any specified 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.

     SECTION 1.02 Other Definitions.

	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	 
	 	 	 	 
	“Affiliate Transaction” 
	 	 	4.11	 
	“Applicable Premium Deficit” 
	 	 	8.04	 
	“Asset Sale Offer” 
	 	 	3.09	 
	“Authentication Order” 
	 	 	2.02	 
	“Change of Control Offer” 
	 	 	4.15	 
	“Change of Control Payment” 
	 	 	4.15	 
	“Change of Control Payment Date” 
	 	 	4.15	 
	“Covenant Defeasance” 
	 	 	8.03	 
	“Depositary Entity” 
	 	 	9.04	 
	“Designated Asset Sale” 
	 	 	4.10	 
	“Designated Asset Sale Offer” 
	 	 	3.09	 
	“Designated Net Proceeds” 
	 	 	4.10	 
	“DTC” 
	 	 	2.03	 
	“Event of Default” 
	 	 	6.01	 
	“Excess Designated Proceeds” 
	 	 	4.10	 
	“Excess Proceeds” 
	 	 	4.10	 
	“incur” 
	 	 	4.09	 
	“Legal Defeasance” 
	 	 	8.02	 
	“Offer Amount” 
	 	 	3.09	 
	“Offer Period”
	 	 	3.09	 
	“Paying Agent” 
	 	 	2.03	 
	“Permitted Debt” 
	 	 	4.09	 

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	 	 	Defined in
	Term	 	Section
	 
	 	 	 	 
	“Payment Default” 
	 	 	6.01	 
	“Purchase Date” 
	 	 	3.09	 
	“Registrar” 
	 	 	2.03	 
	“Reinstatement Date” 
	 	 	4.24	 
	“Restricted Payments” 
	 	 	4.07	 
	“Suspended Covenants” 
	 	 	4.24	 

     SECTION 1.03 Incorporation by Reference of Trust Indenture Act. Whenever this
Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made
a part of this Indenture.

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security Holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

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

     “obligor” on the Notes and the Note Guarantees means the Company, Parent and the
Subsidiary Guarantors, respectively, and any successor obligor upon the Notes and the Note
Guarantees, respectively.

     All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

     SECTION 1.04 Rules of Construction. Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the singular;

     (5) “will” shall be interpreted to express a command;

     (6) provisions apply to successive events and transactions; and

     (7) references to sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules adopted by the SEC from time
to time.

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ARTICLE 2

THE NOTES

     SECTION 2.01 Form and Dating.

     (a) General. The Notes and the Trustee’s certificate of authentication will be
substantially in the form of Exhibit A hereto. The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage. Each Note will be
dated the date of its authentication. The Notes shall be in denominations of $2,000 and
integral multiples of $1,000 in excess thereof.

     The terms and provisions contained in the Notes will constitute, and are hereby
expressly made, a part of this Indenture and Parent, the Company, the Subsidiary Guarantors
and the Trustee, by their execution and delivery of this Indenture, expressly agree to such
terms and provisions and to be bound thereby. However, to the extent any provision of any
Note conflicts with the express provisions of this Indenture, the provisions of this
Indenture shall govern and be controlling.

     (b) Global Notes. Notes issued in global form will be substantially in the
form of Exhibit A attached hereto (including the Global Note Legend thereon and the
“Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in
definitive form will be substantially in the form of Exhibit A attached hereto (but
without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests
in the Global Note” attached thereto). Each Global Note will represent such of the
outstanding Notes as will be specified therein and each shall provide that it represents the
aggregate principal amount of outstanding Notes from time to time endorsed thereon and that
the aggregate principal amount of outstanding Notes represented thereby may from time to
time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the
aggregate principal amount of outstanding Notes represented thereby will be made by the
Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as required by Section 2.06 hereof.

     (c) Temporary Global Notes. Notes offered and sold in reliance on Regulation S
shall be issued initially in the form of the Temporary Regulation S Global Note, which shall
be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee,
at its New York office, as custodian for the Depositary, and registered in the name of the
Depositary or the nominee of the Depositary for the accounts of the designated agents
holding on behalf of Euroclear or Clearstream, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. Following the termination of the
Restricted Period, beneficial interests in the Temporary Regulation S Global Note shall be
exchanged for beneficial interests in the Regulation S Permanent Global Notes pursuant to
the Applicable Procedures. Simultaneously with the authentication of Regulation S Permanent
Global Notes, the Trustee shall cancel the Temporary Regulation S Global Note. The
aggregate principal amount of the Temporary Regulation S Global Note and the Regulation S
Permanent Global Notes may from time

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to time be increased or decreased by adjustments endorsed thereon as specified in
Section 2.01(b) in connection with transfers of interests as hereinafter provided.

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

     SECTION 2.02 Execution and Authentication. At least one Officer must sign the Notes
for the Company by manual or facsimile signature.

     If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated, the Note will nevertheless be valid.

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

     The Trustee will, upon receipt of a written order of the Company signed by two Officers (an
“Authentication Order”), authenticate Notes for original issue up to the aggregate
principal amount stated on the face of the Notes. Each such Authentication Order shall specify the
number, principal amount and registered Holder of each of the Notes to be authenticated, whether
the Notes are to be Initial Notes, Additional Notes or Exchange Notes and whether the Notes are to
be issued as Definitive Notes or Global Notes delivery instructions and such other information as
The Trustee shall reasonably request.

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

     SECTION 2.03 Registrar and Paying Agent. The Company will maintain an office or
agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying
Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange.
The Company may appoint one or more co-registrars and one or more additional paying agents. The
term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional
paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder.
The Company will notify the Trustee in writing of the name and address of any Agent not a party to
this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying
Agent, the Trustee shall act as such. Parent, the Company or any of their respective Subsidiaries
may act as Paying Agent or Registrar.

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

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     The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act
as Custodian with respect to the Global Notes.

     SECTION 2.04 Paying Agent to Hold Money in Trust. The Company will require each
Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust
for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of
principal, premium, if any, or interest on the Notes, and will notify the Trustee of any default by
the Company in making any such payment. While any such default continues, the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than Parent, the Company or any of their respective Subsidiaries) will have
no further liability for the money. If Parent, the Company or any or their respective Subsidiaries
acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the
Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings
relating to the Company, the Trustee will serve as Paying Agent for the Notes.

     SECTION 2.05 Holder Lists. The Trustee will preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of all
Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the
Company will furnish to the Trustee at least seven Business Days before each interest payment date
and at such other times as the Trustee may request in writing, a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of the Holders of Notes and
the Company shall otherwise comply with TIA § 312(a).

     SECTION 2.06 Transfer and Exchange.

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

     (1) the Company delivers to the Trustee notice from the Depositary that it is
unwilling or unable to continue to act as Depositary or that it is no longer a
clearing agency registered under the Exchange Act and, in either case, a successor
Depositary is not appointed by the Company within 120 days after the date of such
notice from the Depositary; or

     (2) the Company in its sole discretion determines that the Global Notes (in
whole but not in part) should be exchanged for Definitive Notes and delivers a
written notice to such effect to the Trustee, provided that in no event
shall the Temporary Regulation S Global Note be exchanged by the Company for
Definitive Notes prior to (x) the expiration of the Restricted Period and (y) the
receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) under the Securities Act.

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     Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive
Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global
Notes also may be exchanged or replaced, in whole or in part, as provided in Sections
2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for,
or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06
or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the
form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note
other than as provided in this Section 2.06(a), however, beneficial interests in a
Global Note may be transferred and exchanged as provided in Section 2.06(b),
(c), (d) or (f) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The
transfer and exchange of beneficial interests in the Global Notes will be effected through
the Depositary, in accordance with the provisions of this Indenture and the Applicable
Procedures. Beneficial interests in the Restricted Global Notes will be subject to
restrictions on transfer comparable to those set forth herein to the extent required by the
Securities Act. Transfers of beneficial interests in the Global Notes also will require
compliance with either subparagraph (1) or (2) below, as applicable, as well
as one or more of the other following subparagraphs, as applicable:

     (1) Transfer of Beneficial Interests in the Same Global Note.
Beneficial interests in any Restricted Global Note may be transferred to Persons who
take delivery thereof in the form of a beneficial interest in the same Restricted
Global Note in accordance with the transfer restrictions set forth in the Private
Placement Legend; provided, however, that prior to the expiration of
the Restricted Period, transfers of beneficial interests in the Temporary Regulation
S Global Note may not be made to a U.S. Person or for the account or benefit of a
U.S. Person (other than an Initial Purchaser). Beneficial interests in any
Unrestricted Global Note may be transferred to Persons who take delivery thereof in
the form of a beneficial interest in an Unrestricted Global Note. No written orders
or instructions shall be required to be delivered to the Registrar to effect the
transfers described in this Section 2.06(b)(1).

     (2) All Other Transfers and Exchanges of Beneficial Interests in Global
Notes. In connection with all transfers and exchanges of beneficial interests
that are not subject to Section 2.06(b)(1) above, the transferor of such
beneficial interest must deliver to the Registrar either:

     (A) both:

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

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

     (B) both:

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

     (ii) instructions given by the Depositary to the Registrar
containing information regarding the Person in whose name such
Definitive Note shall be registered to effect the transfer or
exchange referred to in (1) above, provided that in no event
shall Definitive Notes be issued upon the transfer or exchange of
beneficial interests in the Temporary Regulation S Global Note prior
to (x) the expiration of the Restricted Period and (y) the receipt by
the Registrar of any certificates required pursuant to Rule 903 under
the Securities Act.

     Upon consummation of an Exchange Offer by the Company in accordance with
Section 2.06(f) hereof, the requirements of this Section
2.06(b)(2)(B)(ii) shall be deemed to have been satisfied upon receipt by the
Registrar of the instructions contained in the Letter of Transmittal delivered by
the Holder of such beneficial interests in the Restricted Global Note. Upon
satisfaction of all of the requirements for transfer or exchange of beneficial
interests in Global Notes contained in this Indenture and the Notes or otherwise
applicable under the Securities Act, the Trustee shall adjust the principal amount
of the relevant Global Note(s) pursuant to Section 2.06(i) hereof.

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

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

     (B) if the transferee will take delivery in the form of a beneficial
interest in the Temporary Regulation S Global Note or the Regulation S
Permanent Global Note, then the transferor must deliver a

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certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and

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

     (4) Transfer and Exchange of Beneficial Interests in a Restricted Global
Note for Beneficial Interests in an Unrestricted Global Note. A beneficial
interest in any Restricted Global Note may be exchanged by any holder thereof for a
beneficial interest in an Unrestricted Global Note or transferred to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note if the exchange or transfer complies with the requirements of
Section 2.06(b)(2) above and:

     (A) such exchange or transfer is effected pursuant to the Exchange
Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (1) a
Participating Broker-Dealer, (2) a Person participating in the distribution
of the Exchange Notes or (3) a Person who is an affiliate (as defined in
Rule 144) of the Company;

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

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

     (D) the Registrar receives the following:

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

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

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

     If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time
when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt
of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or
(D) above.

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

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

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

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

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

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

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

     (E) if such beneficial interest is being transferred to an
Institutional Accredited Investor in reliance on an exemption from the

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registration requirements of the Securities Act other than those listed
in subparagraphs (B) through (D) above, a certificate to the
effect set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if
applicable; or

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

the Trustee shall cause the aggregate principal amount of the applicable Global Note
to be reduced accordingly pursuant to Section 2.06(h) hereof, and the
Company shall execute and the Trustee shall authenticate and deliver to the Person
designated in the instructions a Definitive Note in the appropriate principal
amount. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be registered
in such name or names and in such authorized denomination or denominations as the
holder of such beneficial interest shall instruct the Registrar through instructions
from the Depositary and the Participant or Indirect Participant. The Trustee shall
deliver such Definitive Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the
Private Placement Legend and shall be subject to all restrictions on transfer
contained therein.

     (2) Beneficial Interests in Temporary Regulation S Global Note to
Definitive Notes. Notwithstanding Sections 2.06(c)(i)(A) and (C)
hereof, a beneficial interest in the Temporary Regulation S Global Note may not be
exchanged for a Definitive Note or transferred to a Person who takes delivery
thereof in the form of a Definitive Note prior to (x) the expiration of the
Restricted Period and (y) the receipt by the Registrar of any certificates required
pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a
transfer pursuant to an exemption from the registration requirements of the
Securities Act other than Rule 903 or Rule 904.

     (3) Beneficial Interests in Restricted Global Notes to Unrestricted
Definitive Notes. A holder of a beneficial interest in a Restricted Global Note
may exchange such beneficial interest for an Unrestricted Definitive Note or may
transfer such beneficial interest to a Person who takes delivery thereof in the form
of an Unrestricted Definitive Note only upon the occurrence of any of the events in
subsection (1) or (2) of Section 2.06(a) hereof and if:

     (A) such exchange or transfer is effected pursuant to the Exchange
Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (1) a
Participating Broker-Dealer, (2) a Person participating in the distribution

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of the Exchange Notes or (3) a Person who is an affiliate (as defined
in Rule 144) of the Company;

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

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

     (D) the Registrar receives the following:

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

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

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

     (4) Beneficial Interests in Unrestricted Global Notes to Unrestricted
Definitive Notes. If any holder of a beneficial interest in an Unrestricted
Global Note proposes to exchange such beneficial interest for a Definitive Note or
to transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Definitive Note, then, upon satisfaction of the conditions set forth in
Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to
Section 2.06(h) hereof, and the Company will execute and the Trustee will
authenticate and deliver to the Person designated in the instructions a Definitive
Note in the appropriate principal amount. Any Definitive Note issued in exchange
for a beneficial interest pursuant to this Section 2.06(c)(3) will be
registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the Participant or
Indirect Participant. The

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Trustee will deliver such Definitive Notes to the Persons in whose names such
Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(3) will not bear the Private
Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

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

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

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

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

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

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

     (F) if such Restricted Definitive Note is being transferred to Parent,
the Company or any of their respective Subsidiaries, a certificate to the
effect set forth in Exhibit B hereto, including the certifications
in item (3)(b) thereof,

the Trustee will cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause (A)
above, the appropriate Restricted Global Note, in the case of clause (B)
above, the 144A

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Global Note, in the case of clause (C) above, the Regulation S Global Note,
and in all other cases, the IAI Global Note.

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

     (A) such exchange or transfer is effected pursuant to the Exchange
Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (1) a
Participating Broker-Dealer, (2) a Person participating in the distribution
of the Exchange Notes or (3) a Person who is an affiliate (as defined in
Rule 144) of the Company;

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

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

     (D) the Registrar receives the following:

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

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

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

     Upon satisfaction of the conditions of any of the subparagraphs in this
Section 2.06(d)(2), the Trustee will cancel the Definitive Notes and
increase or

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cause to be increased the aggregate principal amount of the Unrestricted Global
Note.

     (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted
Global Notes. A Holder of an Unrestricted Definitive Note may exchange such
Note for a beneficial interest in an Unrestricted Global Note or transfer such
Definitive Notes to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note at any time. Upon receipt of a request for
such an exchange or transfer, the Trustee will cancel the applicable Unrestricted
Definitive Note and increase or cause to be increased the aggregate principal amount
of one of the Unrestricted Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial
interest is effected pursuant to subparagraph (2)(A) above at a time when an
Unrestricted Global Note has not yet been issued, the Company will issue and, upon
receipt of an Authentication Order in accordance with Section 2.02 hereof,
the Trustee will authenticate one or more Unrestricted Global Notes in an aggregate
principal amount equal to the principal amount of Definitive Notes so transferred.

     (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon
request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of
this Section 2.06(e), the Registrar will register the transfer or exchange of
Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder
must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied
by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such Holder or by its attorney, duly authorized in writing. In addition, the requesting
Holder must provide any additional certifications, documents and information, as applicable,
required pursuant to the following provisions of this Section 2.06(e).

     (1) Restricted Definitive Notes to Restricted Definitive Notes. Any
Restricted Definitive Note may be transferred to and registered in the name of
Persons who take delivery thereof in the form of a Restricted Definitive Note if the
Registrar receives the following:

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

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

     (C) if the transfer will be made pursuant to any other exemption from
the registration requirements of the Securities Act, then the transferor
must deliver a certificate in the form of Exhibit B hereto,
including the

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certifications, certificates and Opinion of Counsel required by
item (3) thereof, if applicable.

     (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any
Restricted Definitive Note may be exchanged by the Holder thereof for an
Unrestricted Definitive Note or transferred to a Person or Persons who take delivery
thereof in the form of an Unrestricted Definitive Note if:

     (A) such exchange or transfer is effected pursuant to the Exchange
Offer in accordance with the Registration Rights Agreement and the Holder,
in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (1) a
Participating Broker-Dealer, (2) a Person participating in the distribution
of the Exchange Notes or (3) a Person who is an affiliate (as defined in
Rule 144) of the Company;

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

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

     (D) the Registrar receives the following:

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

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

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

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

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     (f) Exchange Offer. Upon the occurrence of an Exchange Offer in accordance
with the Registration Rights Agreement, the Company shall issue and, upon receipt of an
Company Authentication Order in accordance with Section 2.02 hereof, the Trustee
shall authenticate

     (A) one or more Unrestricted Global Notes in an aggregate principal
amount equal to the aggregate principal amount of the beneficial interests
in the Restricted Global Notes tendered for acceptance by Persons that
certify in the applicable Letters of Transmittal that (x) they are not
Participating Broker-Dealers, (y) they are not participating in a
distribution of any Exchange Notes and (z) they are not affiliates (as
defined in Rule 144) of the Company, and accepted for exchange in the
Exchange Offer; and

     (B) Unrestricted Definitive Notes in an aggregate principal amount
equal to the aggregate principal amount of the Restricted Definitive Notes
tendered for acceptance by Persons that certify in the applicable Letters of
Transmittal or through an Agent’s Message through the DTC Automated Tender
Offers Program that (x) they are not Participating Broker-Dealers, (y) they
are not participating in a distribution of the Exchange Notes and (z) they
are not affiliates (as defined in Rule 144) of the Company, and accepted for
exchange in the Exchange Offer. Concurrently with the issuance of such
Notes, the Trustee shall cause the aggregate principal amount of the
applicable Restricted Global Notes to be reduced accordingly, and the
Company shall execute and the Trustee shall authenticate and mail to the
Persons designated by the Holders of Definitive Notes so accepted
Unrestricted Definitive Notes in the applicable principal amount. Any Notes
that remain outstanding after the consummation of an Exchange Offer, and
Exchange Notes issued in connection with an Exchange Offer, shall be treated
as a single class of securities under this Indenture.

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

     (1) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Global
Note and each Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following
form:

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,AS AMENDED (THE “SECURITIES
ACT”). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF THE COMPANY THAT
THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE

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TRANSFERRED (X) PRIOR TO THE LATER OF THE ONE YEAR ANNIVERSARY OF THE ISSUANCE HEREOF (OR ANY
PREDECESSOR SECURITY HERETO) OR OF ANY ADDITIONAL NOTES OR (Y) BY ANY HOLDER THAT WAS AN AFFILIATE
OF THE COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH TRANSFER, IN EITHER
CASE OTHER THAN:

	(1)	 	TO THE COMPANY,
	 
	(2)	 	SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT (“RULE 144A”), TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR
OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A (AS INDICATED BY THE BOX CHECKED BY THE
TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS SECURITY),
	 
	(3)	 	IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT (AS
INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE
OF THIS SECURITY),
	 
	(4)	 	TO AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1), (2), (3) OR
(7) OF REGULATION D UNDER THE SECURITIES ACT (AS INDICATED BY THE BOX CHECKED BY THE
TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS SECURITY) THAT IS ACQUIRING
THIS SECURITY FOR INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION, AND A CERTIFICATE WHICH MAY BE
OBTAINED FROM THE COMPANY OR THE TRUSTEE IS DELIVERED BY THE TRANSFEREE TO THE COMPANY AND THE
TRUSTEE,
	 
	(5)	 	PURSUANT TO ANY EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
(IF APPLICABLE) UNDER THE SECURITIES ACT, OR
	 
	(6)	 	PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT,

IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.
AN INSTITUTIONAL ACCREDITED INVESTOR HOLDING THIS SECURITY AGREES THAT IT WILL FURNISH TO THE
COMPANY AND THE TRUSTEE SUCH CERTIFICATES, OPINIONS OF COUNSEL AND OTHER INFORMATION AS THEY MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER BY IT OF THIS SECURITY COMPLIES WITH THE FOREGOING
RESTRICTIONS. THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND AGREES FOR THE BENEFIT
OF THE COMPANY THAT IT IS (1) A

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“QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A OR (2) PURCHASING FROM A PERSON NOT
PARTICIPATING IN THE INITIAL DISTRIBUTION OF THIS SECURITY (OR ANY PREDECESSOR SECURITY), THAT IT
IS AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(l), (2), (3) OR (7) OF
REGULATION D UNDER THE SECURITIES ACT AND THAT IT IS HOLDING THIS SECURITY FOR INVESTMENT PURPOSES
AND NOT FOR DISTRIBUTION OR (3) A NON-U.S. PERSON OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
(OR AN ACCOUNT SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF RULE 902 UNDER) REGULATION S
UNDER THE SECURITIES ACT.”

     (B) Notwithstanding the foregoing, any Global Note or Definitive Note
issued pursuant to subparagraphs (b)(4), (c)(2),
(c)(3), (d)(2), (d)(3), (e)(2) or
(e)(3) of this Section 2.06 (and all Notes issued in
exchange therefor or substitution thereof) will not bear the Private
Placement Legend.

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

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR
ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO
ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR

48

 

VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.”

     (3) Temporary Regulation S Global Note Legend. The Temporary
Regulation S Global Note will bear a legend in substantially the following form:

“THE RIGHTS ATTACHING TO THIS TEMPORARY REGULATION S GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES
GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTE, ARE SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).
NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S GLOBAL NOTE SHALL BE
ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all
beneficial interests in a particular Global Note have been exchanged for Definitive Notes or
a particular Global Note has been redeemed, repurchased or canceled in whole and not in
part, each such Global Note will be returned to or retained and canceled by the Trustee in
accordance with Section 2.11 hereof. At any time prior to such cancellation, if any
beneficial interest in a Global Note is exchanged for or transferred to a Person who will
take delivery thereof in the form of a beneficial interest in another Global Note or for
Definitive Notes, the principal amount of Notes represented by such Global Note will be
reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by
the Depositary at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note
will be increased accordingly and an endorsement will be made on such Global Note by the
Trustee or by the Depositary at the direction of the Trustee to reflect such increase.

     (i) General Provisions Relating to Transfers and Exchanges.

     (1) To permit registrations of transfers and exchanges, the Company will
execute and the Trustee will authenticate Global Notes and Definitive Notes upon
receipt of an Authentication Order in accordance with Section 2.02 or at the
Registrar’s request.

     (2) No service charge will be made to a Holder of a beneficial interest in a
Global Note or to a Holder of a Definitive Note for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith (other
than any such transfer taxes or similar governmental charge payable upon exchange or
transfer pursuant to Sections 2.10, 3.06, 3.09,
4.10, 4.15 and 9.05 hereof).

     (3) All Global Notes and Definitive Notes issued upon any registration of
transfer or exchange of Global Notes or Definitive Notes will be the valid
obligations of the Company, evidencing the same debt, and entitled to the same

49

 

benefits under this Indenture, as the Global Notes or Definitive Notes
surrendered upon such registration of transfer or exchange.

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

     (A) to issue, to register the transfer of or to exchange any Notes
during a period beginning at the opening of business 15 days before the day
of any selection of Notes for redemption under Section 3.02 hereof
and ending at the close of business on the day of selection;

     (B) to register the transfer of or to exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note
being redeemed in part; or

     (C) to register the transfer of or to exchange a Note between a record
date and the next succeeding interest payment date.

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

     (6) The Trustee will authenticate Global Notes and Definitive Notes in
accordance with the provisions of Section 2.02 hereof.

     (7) All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section 2.06 to effect a
registration of transfer or exchange may be submitted by facsimile.

     SECTION 2.07 Replacement Notes. If any mutilated Note is surrendered to the Trustee
or the Company and the Trustee receives evidence to its satisfaction of the destruction, loss or
theft of any Note, the Company will issue and the Trustee, upon receipt of an Authentication Order,
will authenticate a replacement Note if the Trustee’s requirements are met. If required by the
Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the
judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any
authenticating agent from any loss, liability or expense that any of them may suffer if a Note is
replaced and subsequently presented or claimed for payment. The Company may charge for its
expenses in replacing a Note.

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

     SECTION 2.08 Outstanding Notes. The Notes outstanding at any time are all the
Notes authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest in a Global Note effected by the Trustee in
accordance with the

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provisions hereof, and those described in this Section 2.08 or Sections 2.09,
8.02 or 8.03 as not outstanding. Except as set forth in Section 2.09
hereof, a Note does not cease to be outstanding because Parent, the Company or an Affiliate of
Parent or the Company holds the Note; however, Notes held by Parent, the Company or a
Subsidiary of Parent or the Company shall not be deemed to be outstanding for purposes of
Section 3.07(a) hereof.

     If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding.

     If the principal amount of any Note is considered paid under Section 4.01 hereof, it
ceases to be outstanding and interest on it ceases to accrue.

     If the Paying Agent (other than Parent, the Company, a Subsidiary or an Affiliate of any
thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on
that date, then on and after that date such Notes will be deemed to be no longer outstanding and
will cease to accrue interest.

     SECTION 2.09 Treasury Notes. In determining whether the Holders of the required
principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by
Parent, the Company or any Subsidiary Guarantor, or by any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with Parent, the Company or
any Subsidiary Guarantor, will be considered as though not outstanding, except that for the
purposes of determining whether the Trustee will be protected in relying on any such direction,
waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned
will be so disregarded.

     SECTION 2.10 Temporary Notes. Until certificates representing Notes are ready for
delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, will
authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated
Notes but may have variations that the Company considers appropriate for temporary Notes and as may
be reasonably acceptable to the Trustee. Without unreasonable delay, the Company will prepare and
the Trustee will authenticate definitive Notes in exchange for temporary Notes.

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

     SECTION 2.11 Cancellation. The Company at any time may deliver Notes to the Trustee
for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered
to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel
all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation
and will dispose of such canceled Notes (subject to the record retention requirement of the
Exchange Act) in its customary manner. Certification of the destruction of all canceled Notes will
be delivered to the Company. The Company may not issue new Notes to replace Notes that it has paid
or that have been delivered to the Trustee for cancellation.

     SECTION 2.12 Defaulted Interest. If the Company defaults in a payment of interest on
the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent lawful,
interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special

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record date, in each case at the rate provided in the Notes and in Section 4.01
hereof. The Company will notify the Trustee in writing of the amount of defaulted interest
proposed to be paid on each Note and the date of the proposed payment. The Company will fix or
cause to be fixed each such special record date and payment date, provided that no such
special record date may be less than 10 days prior to the related payment date for such defaulted
interest. At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) will mail or
cause to be mailed to Holders a notice that states the special record date, the related payment
date and the amount of such interest to be paid.

ARTICLE 3

REDEMPTION AND PREPAYMENT

     SECTION 3.01 Notices to Trustee. If the Company elects to redeem Notes pursuant to
the optional redemption provisions of Section 3.07 hereof, it must furnish to the Trustee,
at least 30 days but not more than 60 days before a redemption date, an Officers’ Certificate
setting forth:

     (1) the clause of this Indenture pursuant to which the redemption shall occur,

     (2) the redemption date;

     (3) the principal amount of Notes to be redeemed;

     (4) the redemption price; and

     (5) applicable CUSIP numbers.

     SECTION 3.02 Selection of Notes to Be Redeemed or Purchased. If less than all of the
Notes are to be redeemed or purchased in an offer to purchase at any time, the Trustee will select
Notes for redemption or purchase as follows:

     (1) if the Notes are listed on any national securities exchange, in compliance
with the requirements of the principal national securities exchange on which the
Notes are listed; or

     (2) if the Notes are not listed on any national securities exchange, on a
pro rata basis, by lot or by such method as the Trustee deems fair
and appropriate, subject to the redemption procedures of the Depositary.

     In the event of partial redemption or purchase the particular Notes to be redeemed or
purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60
days prior to the redemption or purchase date by the Trustee from the outstanding Notes not
previously called for redemption or purchase.

     The Trustee will promptly notify the Company in writing of the Notes selected for redemption
or purchase and, in the case of any Note selected for partial redemption or purchase,

52

 

the principal amount thereof to be redeemed or purchased. Notes and portions of Notes
selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof. No Notes of
$2,000 or less shall be redeemed in part. Except as provided in the preceding sentence, provisions
of this Indenture that apply to Notes called for redemption or purchase also apply to portions of
Notes called for redemption or purchase.

     SECTION 3.03 Notice of Redemption. Subject to the provisions of Section 3.09
hereof, at least 30 days but not more than 60 days before a redemption date, the Company will mail
or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are
to be redeemed at its registered address, except that redemption notices may be mailed more than 60
days prior to a redemption date if the notice is issued in connection with a defeasance of the
Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or
12 of this Indenture.

     The notice will identify the Notes to be redeemed and will state:

     (1) the redemption date;

     (2) the redemption price;

     (3) if any Note is being redeemed in part, the portion of the principal amount
of such Note to be redeemed and that, after the redemption date upon surrender of
such Note, a new Note or Notes in principal amount equal to the unredeemed portion
will be issued upon cancellation of the original Note;

     (4) the name and address of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

     (6) that, unless the Company defaults in making such redemption payment,
interest on Notes called for redemption ceases to accrue on and after the redemption
date;

     (7) the paragraph of the Notes and/or Section of this Indenture pursuant to
which the Notes called for redemption are being redeemed; and

     (8) that no representation is made as to the correctness or accuracy of the
CUSIP number, if any, listed in such notice or printed on the Notes.

     At the Company’s request, the Trustee will give the notice of redemption in the Company’s name
and at its expense; provided, however, that the Company has delivered to the
Trustee, at least 40 days (unless a shorter time shall be acceptable to the Trustee) prior to the
redemption date, an Officers’ Certificate requesting that the Trustee give such notice and
providing a form of notice setting forth the information to be stated in such notice as provided in
the preceding paragraph.

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     SECTION 3.04 Effect of Notice of Redemption. Once notice of redemption is mailed in
accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and
payable on the redemption date at the redemption price. Any delayed notice of redemption that is
not received at least 30 days prior to the redemption date shall result in such redemption date
becoming effective 30 days following the date of completed notice. A notice of redemption may not
be conditional.

     SECTION 3.05 Deposit of Redemption or Purchase Price. One Business Day prior to the
redemption or purchase date, the Company will deposit with the Trustee or with the Paying Agent
money sufficient to pay the redemption or purchase price of and accrued interest on all Notes to be
redeemed or purchased on that date. The Trustee or the Paying Agent will promptly return to the
Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the
amounts necessary to pay the redemption or purchase price of, and accrued interest on, all Notes to
be redeemed or purchased.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If a Note is redeemed or purchased on or after an interest
record date but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Note was registered at the close of
business on such record date. If any Note called for redemption or purchase is not so paid upon
surrender for redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or
purchase date until such principal is paid, and to the extent lawful on any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01
hereof.

     SECTION 3.06 Notes Redeemed or Purchased in Part. Upon surrender of a Note that is
redeemed or purchased in part, the Company will issue and, upon receipt of an Authentication Order,
the Trustee will authenticate for the Holder at the expense of the Company a new Note equal in
principal amount to the unredeemed or unpurchased portion of the Note surrendered.

     SECTION 3.07 Optional Redemption. (a) At any time prior to November 15, 2013, the
Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of
Notes issued under this Indenture (including any Additional Notes issued after the Issue Date) at a
redemption price of 110.000% of the principal amount, plus accrued and unpaid interest, to, but not
including, the redemption date, with the net cash proceeds of one or more Equity Offerings;
provided that:

     (1) at least 65% of the aggregate principal amount of Notes issued under this
Indenture (including any Additional Notes issued after the Issue Date but excluding
Notes held by Parent or its Subsidiaries) remains outstanding immediately after the
occurrence of such redemption; and

     (2) the redemption occurs within 120 days of the date of the closing of such
Equity Offering.

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     At any time prior to November 15, 2014, the Company may on any one or more occasions redeem
all or a part of the Notes at a redemption price equal to 100% of the principal amount of the Notes
redeemed plus the Applicable Premium, plus accrued and unpaid interest, to, but not including, the
redemption date.

     Except pursuant to the preceding paragraphs, the Notes will not be redeemable at the Company’s
option prior to November 15, 2014. The Company is not, however, prohibited under this indenture
from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open
market purchase or otherwise, so long as the acquisition does not violate the terms of this
Indenture.

     On or after November 15, 2014, the Company may redeem all or a part of the Notes at the
redemption prices (expressed as percentages of principal amount) set forth below plus accrued and
unpaid interest on the Notes to be redeemed, to, but not including, the applicable redemption date,
if redeemed during the twelve-month period beginning on November 15 of the years indicated below,
subject to the rights of Holders on the relevant record date to receive interest on the relevant
interest payment date:

	 	 	 	 	 
	Year	 	Percentage
	2014 
	 	 	105.000	%
	2015 
	 	 	102.500	%
	2016 and thereafter 
	 	 	100.000	%

     All redemptions of the Notes will be made upon not less than 30 days’ nor more than 60 days’
prior notice mailed by first class mail to each Holder’s registered address in accordance with
Section 3.03. Unless the Company defaults in the payment of the redemption price, interest
will cease to accrue on the Notes or portions thereof called for redemption on the applicable
redemption date.

     (b) Any redemption pursuant to this Section 3.07 shall be made pursuant to the
provisions of Section 3.01 through 3.06 hereof.

     SECTION 3.08 Mandatory Redemption. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes.

     SECTION 3.09 Offer to Purchase by Application of Excess Designated Proceeds or Excess
Proceeds. In the event that either (x) pursuant to clause (2) of the second paragraph
of Section 4.10 hereof, the Issuer is required to commence an offer to all Holders to
purchase Notes and, if required by Section 4.10, Pari Passu Indebtedness (a “Designated
Asset Sale Offer”), or (y) pursuant to the fifth paragraph of Section 4.10 hereof, the
Issuer is required to commence an offer to all Holders to purchase Notes and, if required by
Section 4.10, Pari Passu Indebtedness (an “Asset Sale Offer”), then, in either such
case, the Issuer will follow the procedures specified below.

     The offer price in any Designated Asset Sale Offer or Asset Sale Offer will be equal to 100%
of the principal amount of the Notes and such Pari Passu Indebtedness plus accrued and unpaid
interest on the Notes and such Pari Passu Indebtedness to, but excluding, the date of

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purchase and will be payable in cash. If any Excess Designated Proceeds remain after
consummation of a Designated Asset Sale Offer or any Excess Proceeds remain after consummation of
an Asset Sale Offer, the Issuer may use those remaining Excess Designated Proceeds or Excess
Proceeds, as applicable, for any purpose not otherwise prohibited by this Indenture. If the
aggregate principal amount of the Notes and Pari Passu Indebtedness tendered into such Designated
Asset Sale Offer or such Asset Sale Offer exceeds the amount of Excess Designated Proceeds or
Excess Proceeds, as applicable, the Notes and such Pari Passu Indebtedness to be purchased shall be
purchased on a pro rata basis based on the principal amount of Notes and such Pari Passu
Indebtedness tendered. In such event, the Trustee shall select the Notes to be purchased as
provided under Section 3.02. Upon completion of each Designated Asset Sale Offer, the
amount of Excess Designated Proceeds will be reset at zero, and upon completion of each Asset Sale
Offer, the amount of Excess Proceeds will be reset at zero.

     The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with each repurchase of Notes pursuant to a Designated Asset Sale Offer or
an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations
conflict with this Section 3.09 or Section 4.10 of this Indenture, the
Issuer will comply with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under this Section 3.09 or Section 4.10 of
this Indenture by virtue of such compliance.

     Each Designated Asset Sale Offer and each Asset Sale Offer will remain open for a period of at
least 20 Business Days following its commencement and not more than 30 Business Days, except to the
extent that a longer period is required by applicable law (the “Offer Period”). No later
than three Business Days after the termination of the Offer Period (the “Purchase Date”),
the Issuer will apply all Excess Designated Proceeds or Excess Proceeds, as applicable (the
“Offer Amount”), to the purchase of Notes and such tendered Pari Passu Indebtedness (on a
pro rata basis, if applicable) or, if less than the Offer Amount has been tendered, all Notes and
Pari Passu Indebtedness tendered in response to the Designated Asset Sale Offer or the Asset Sale
Offer, as applicable. Payment for any Notes so purchased will be made in the same manner as
interest payments are made.

     If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest, will be paid to the Person in whose name a
Note is registered at the close of business on such record date, and no additional interest will be
payable to Holders who tender Notes pursuant to the Designated Asset Sale Offer or the Asset Sale
Offer, as applicable.

     Upon the commencement of a Designated Asset Sale Offer or an Asset Sale Offer, the Issuer will
send, by first class mail, a notice to the Trustee and each of the Holders. The notice will
contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to
the Designated Asset Sale Offer or the Asset Sale Offer, as applicable. The notice, which will
govern the terms of the Designated Asset Sale Offer or the Asset Sale Offer, as applicable, will
state:

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     (1) that the Designated Asset Sale Offer or the Asset Sale Offer, as
applicable, is being made pursuant to this Section 3.09 and Section
4.10 hereof and the length of time the Designated Asset Sale Offer or the Asset
Sale Offer, as applicable, will remain open;

     (2) the Offer Amount, the purchase price and the Purchase Date;

     (3) that any Note not tendered or accepted for payment will continue to accrue
interest;

     (4) that, unless the Issuer defaults in making such payment, any Note accepted
for payment pursuant to the Designated Asset Sale Offer or the Asset Sale Offer, as
applicable, will cease to accrue interest after the Purchase Date;

     (5) that Holders electing to have a Note purchased pursuant to a Designated
Asset Sale Offer or an Asset Sale Offer, as applicable, may elect to have Notes
purchased in integral multiples of $1,000 only;

     (6) that Holders electing to have Notes purchased pursuant to any Designated
Asset Sale Offer or any Asset Sale Offer, as applicable, will be required to
surrender the Note, with the form entitled “Option of Holder to Elect Purchase”
attached to the Notes completed, or transfer by book-entry transfer, to the Issuer,
a Depositary, if appointed by the Issuer, or a Paying Agent at the address specified
in the notice at least three days before the Purchase Date;

     (7) that Holders will be entitled to withdraw their election if the Issuer, the
Depositary or the Paying Agent, as the case may be, receives, not later than the
expiration of the Offer Period, a telegram, telex, facsimile transmission or letter
setting forth the name of the Holder, the principal amount of the Note the Holder
delivered for purchase and a statement that such Holder is withdrawing his election
to have such Note purchased;

     (8) that, if the aggregate principal amount of Notes and Pari Passu
Indebtedness surrendered by holders thereof exceeds the Offer Amount, the Issuer
will select the Notes and Pari Passu Indebtedness to be purchased on a pro rata
basis based on the principal amount of Notes and such Pari Passu Indebtedness
surrendered (with such adjustments as may be deemed appropriate by the Issuer so
that only Notes in denominations of $2,000, or integral multiples of $1,000 in
excess thereof, will be purchased); and

     (9) that Holders whose Notes were purchased only in part will be issued new
Notes equal in principal amount to the unpurchased portion of the Notes surrendered
(or transferred by book-entry transfer).

     On or before the Purchase Date, the Issuer will, to the extent lawful, accept for payment, on
a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered
pursuant to the Designated Asset Sale Offer or the Asset Sale Offer, as applicable, or if less than
the Offer Amount has been tendered, all Notes tendered, and will deliver or cause to be

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delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate
stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance
with the terms of this Section 3.09. The Issuer, the Depositary or the Paying Agent, as
the case may be, will promptly (but in any case not later than seven days after the Purchase Date)
mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes
tendered by such Holder and accepted by the Issuer for purchase, and the Issuer will promptly issue
a new Note, and the Trustee, upon written request from the Issuer will authenticate and mail or
deliver (or cause to be transferred by book entry) such new Note to such Holder, in a principal
amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be
promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer will publicly
announce the results of the Designated Asset Sale Offer or the Asset Sale Offer, as applicable, on
or as soon as reasonably practicable after the Purchase Date.

     Other than as specifically provided in this Section 3.09, any purchase pursuant to
this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through
3.06 hereof.

ARTICLE 4

COVENANTS

     SECTION 4.01 Payment of Notes. The Company will pay or cause to be paid the
principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in
the Notes. Principal, premium, if any, and interest will be considered paid on the date due if the
Paying Agent, if other than Parent, the Company or any Subsidiary thereof, holds as of 10:00 a.m.
Eastern Time on the due date money deposited by the Company in immediately available funds and
designated for and sufficient to pay all principal, premium, if any, and interest then due.

     The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of the then
applicable interest rate on the Notes to the extent lawful; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful.

     The Company shall pay all Additional Interest, if any, in the manner, on the dates and in the
amounts set forth in the Registration Rights Agreement.

     SECTION 4.02 Maintenance of Office or Agency. The Company will maintain in the
Borough of Manhattan, the City of New York, an office or agency (which may be an office of the
Trustee or an affiliate or an agent of the Trustee, Registrar or co-registrar) where Notes may be
surrendered for registration of transfer or for exchange and where notices and demands to or upon
the Company in respect of the Notes and this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Company fails to maintain any such required office or agency or fails
to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee.

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     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations; provided, however, that no such designation or
rescission will in any manner relieve the Company of its obligation to maintain an office or agency
in the Borough of Manhattan, the City of New York for such purposes. The Company will give prompt
written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

     The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03 hereof.

     SECTION 4.03 Reports. (a) Notwithstanding that Parent may not be subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, or otherwise report on an annual
and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and
regulations promulgated by the SEC, Parent will (x) file with the SEC and (y) provide the Trustee
and Holders with copies thereof, without cost to each Holder, the following information within the
time periods specified in the SEC’s rules and regulations applicable to a non-accelerated filer:

     (1) annual financial information that would be required to be contained in a
filing with the SEC on Form 10-K if Parent were required to file such a form,
including (i) a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and (ii) a report on the annual financial statements by
Parent’s certified independent accountants, and

     (2) all quarterly information that would be required to be contained in a
filing with the SEC on Form 10-Q if Parent were required to file such a form,
including “Management’s Discussion and Analysis of Financial Condition and Results
of Operations”;

provided, however, that Parent will not be so obligated to file such reports with the SEC if the
SEC does not permit such filing, in which event the Company will make available such information to
securities analysts and prospective investors upon request, in addition to providing such
information to the Trustee and the Holders.

     If the Company has designated any Subsidiary as an Unrestricted Subsidiary and any such
Unrestricted Subsidiary, either individually or collectively, would otherwise have been a
Significant Subsidiary, then the quarterly and annual financial information required by the
preceding paragraph shall include a reasonably detailed presentation, as determined in good faith
by senior management of Parent, either on the face of the financial statements or in the footnotes
to the financial statements and in management’s discussion and analysis of financial condition and
results of operations, of the financial condition and results of operations of the Company, Parent
and Parent’s Restricted Subsidiaries separate from the financial condition and results of
operations of the Unrestricted Subsidiaries.

     Parent will also furnish to Holders, securities analysts and prospective investors upon
request the information required to be delivered pursuant Rule 144A(d)(4) under the Securities Act.

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     Notwithstanding the foregoing, Parent’s delivery obligations to the Trustee and Holders
described herein will be deemed to be satisfied by posting of the information and reports referred
to in clauses (1) and (2) above on Parent’s website or one maintained on its behalf
for such purpose; provided that Parent will use reasonable efforts to inform Holders and the
Trustee of the availability of such information and reports, which may be satisfied by, among other
things, a press release on any national business press release wire service. In addition,
availability of the foregoing materials on the SEC’s EDGAR service or any successor service will be
deemed to satisfy Parent’s delivery obligations to the Holders and the Trustee.

     The filing requirements set forth above for the applicable period may be satisfied by the
Parent prior to the commencement of the Exchange Offer or the effectiveness of the Shelf
Registration Statement (1) by the filing with the SEC of the exchange offer registration statement
and/or shelf registration statement, and any amendments thereto, with such financial information
that satisfies Regulation S-X of the Securities Act; provided that this paragraph shall not
supersede or in any manner suspend or delay Parent’s reporting obligations set forth in the first
four paragraphs of this covenant, or (2) by posting reports that would be required to be filed
substantially in the form required by the SEC on Parent’s website (or one maintained on its behalf)
or providing such reports to the Trustee within the times specified above.

     SECTION 4.04 Compliance Certificate.

     (a) Parent, the Company and each Subsidiary Guarantor (to the extent that such
Subsidiary Guarantor is so required under the TIA) shall deliver to the Trustee, within 90
days after the end of each fiscal year, an Officers’ Certificate stating that a review of
the activities of Parent, the Company and their respective Subsidiaries during the preceding
fiscal year has been made under the supervision of the signing Officers with a view to
determining whether Parent, the Company and each Subsidiary Guarantor has kept, observed,
performed and fulfilled its obligations under this Indenture, and further stating, as to
each such Officer signing such certificate, that to the best of his or her knowledge Parent,
the Company and each Subsidiary Guarantor has kept, observed, performed and fulfilled each
and every covenant contained in this Indenture and is not in default in the performance or
observance of any of the terms, provisions and conditions of this Indenture (or, if a
Default or Event of Default has occurred, describing all such Defaults or Events of Default
of which he or she may have knowledge and what action the Company is taking or proposes to
take with respect thereto).

     (b) So long as any of the Notes are outstanding, the Company will deliver to the
Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default that
has not been cured, an Officers’ Certificate specifying such Default or Event of Default and
what action the Company is taking or proposes to take with respect thereto.

     SECTION 4.05 Taxes. Parent and the Company will pay, and will cause each of their
respective Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by appropriate proceedings or
where the failure to effect such payment is not adverse in any material respect to the Holders of
the Notes.

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     SECTION 4.06 Stay, Extension and Usury Laws. Parent, the Company and each of the
Subsidiary Guarantors covenants (to the extent that it may lawfully do so) that it will not at any
time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may
affect the covenants or the performance of this Indenture; and Parent, the Company and each of the
Subsidiary Guarantors (to the extent that it may lawfully do so) hereby expressly waives all
benefit or advantage of any such law, and covenants that it will not, by resort to any such law,
hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law has been enacted.

     SECTION 4.07 Restricted Payments.

     (a) Parent and the Company will not, and will not permit any of Parent’s Restricted
Subsidiaries to, directly or indirectly:

     (1) declare or pay any dividend or make any other payment or distribution on
account of Parent’s, the Company’s or any of Parent’s Restricted Subsidiaries’
Equity Interests or to the direct or indirect holders of Parent’s, the Company’s or
any of Parent’s Restricted Subsidiaries’ Equity Interests in their capacity as such
(other than dividends or distributions payable in Equity Interests (other than
Disqualified Stock) of Parent and other than dividends or distributions payable to
Parent, the Company or any of Parent’s Restricted Subsidiaries);

     (2) purchase, redeem or otherwise acquire or retire for value any Equity
Interests of Parent, the Company or any of Parent’s Restricted Subsidiaries (other
than any Equity Interests owned by Parent, the Company or any of Parent’s Restricted
Subsidiaries);

     (3) (a) make any payment on or with respect to, or purchase, redeem, defease or
otherwise acquire or retire for value, any Indebtedness of Parent, the Company or
any Subsidiary Guarantor that is contractually subordinated to the Notes or to any
Note Guarantee (excluding any intercompany Indebtedness between or among Parent, the
Company and any of Parent’s Restricted Subsidiaries), except a payment of interest
or principal at the Stated Maturity thereof, or (b) make any payment or prepayment
of principal of, or premium or interest on, any Senior Unsecured Pari Passu
Indebtedness (including any redemption or retirement thereof) other than the stated,
scheduled date for payment of interest or principal set forth in the documents
governing such Senior Unsecured Pari Passu Indebtedness; or

     (4) make any Restricted Investment;

(all such payments and other actions set forth in these clauses (1) through
(4) above being collectively referred to as “Restricted Payments”), unless,
at the time of and after giving effect to such Restricted Payment:

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

     (B) the Company would, after giving pro forma effect to such Restricted
Payment 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 4.09(a) hereof; and

     (C) such Restricted Payment, together with the aggregate amount of all
other Restricted Payments made by Parent, the Company and Parent’s
Restricted Subsidiaries since the Issue Date (excluding Restricted Payments
permitted by clauses (2), (3), (5), (6),
(9) and (10), of the next succeeding paragraph), is less
than the sum, without duplication, of:

     (i) 50% of the Consolidated Net Income of Parent during the
period (taken as one accounting period) from the Issue Date to the
end of Parent’s most recently ended fiscal quarter for which internal
financial statements are available at the time of such Restricted
Payment (or, if such Consolidated Net Income for such period is a
deficit, less 100% of such deficit) provided, that,
with respect to the period commencing on the Issue Date until the
last day of the fiscal quarter in which the Issue Date shall occur,
the Consolidated Net Income of Parent shall be deemed to equal the
product of (x) the Consolidated Net Income of Parent for the entire
fiscal quarter in which the Issue Date shall occur, times (y)
a fraction, (A) the numerator of which equals the number days in the
period commencing on, but excluding, the Issue Date and ending on,
and including, the last day of such fiscal quarter, and (B) the
denominator of which equals the total number of days in such fiscal
quarter; plus

     (ii) 100% of the aggregate net cash proceeds received by Parent
subsequent to the Issue Date (x) as a contribution to its common
equity capital or (y) from the issue or sale of Equity Interests of
Parent (other than Disqualified Stock or any other Equity Interest
issued to an employee stock ownership plan or to a trust established
by Parent or any of its Subsidiaries for the benefit of their
employees) or from the issue or sale of convertible or exchangeable
Disqualified Stock or convertible or exchangeable debt securities
that have been converted into or exchanged for such Equity Interests
(other than Equity Interests (or Disqualified Stock or debt
securities) sold to a Subsidiary of Parent or issued to an employee
stock ownership plan or to a trust established by Parent or any of
its Subsidiaries for the benefit of their employees; plus

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     (iii) to the extent that any Restricted Investment that was made
subsequent to the Issue Date is sold for cash or otherwise liquidated
or repaid for cash, the lesser of (i) the cash received as return of
capital with respect to such Restricted Investment (less the cost of
disposition if any) and (ii) the amount of such Restricted Investment
as of immediately prior to such sale as defined pursuant to the last
sentence of the definition of “Investment;” plus

     (iv) to the extent that any Unrestricted Subsidiary of Parent
designated as such after the Issue Date is redesignated as a
Restricted Subsidiary after the Issue Date, 100% of the Fair Market
Value of Parent’s Investment in such Subsidiary as of the date of
such redesignation.

     (b) So long as (solely in the case of clauses (4), (7), and
(10)) no Default has occurred and is continuing or would be caused thereby, the
preceding provisions will not prohibit:

     (1) the payment of any dividend or distribution or the consummation of any
irrevocable redemption within 60 days after the date of declaration of the dividend
or distribution or giving of the redemption notice, as the case may be, if, at the
date of declaration or notice, the dividend, distribution or redemption payment
would have complied with the provisions of this Indenture;

     (2) the making of any Restricted Payment in exchange for, or out of the net
cash proceeds received by Parent of the substantially concurrent sale (other than to
a Subsidiary of Parent) of, Equity Interests of Parent (other than Disqualified
Stock or any other Equity Interest issued to an employee stock ownership plan or to
a trust established by Parent or any of its Subsidiaries for the benefit of their
employees) or from the substantially concurrent cash capital contribution received
by Parent from its stockholders; provided that the amount of any such net
cash proceeds that are utilized for any such Restricted Payment will be excluded
from Section 4.07(a)(C)(ii);

     (3) (a) the repurchase, redemption, defeasance or other acquisition or
retirement for value of Indebtedness of Parent, the Company or any Subsidiary
Guarantor that is contractually subordinated to the Notes or to any Note Guarantee
with the net cash proceeds from a substantially concurrent incurrence of, or in
exchange for, Permitted Refinancing Indebtedness that is contractually subordinated
to the Notes and the Note Guarantee to the same extent as the Indebtedness being
refinanced, or (b) the repurchase, redemption, defeasance or other acquisition or
retirement for value of Indebtedness of Parent, the Company or any Subsidiary
Guarantor that constitutes Senior Unsecured Pari Passu Indebtedness with the net
cash proceeds from a substantially concurrent incurrence of, or in exchange for,
Permitted Refinancing Indebtedness that

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constitutes Senior Unsecured Pari Passu Indebtedness as to the same extent as
the Indebtedness being refinanced;

     (4) the repurchase, redemption or other acquisition or retirement for value of
any Equity Interests of Parent, the Company or any Restricted Subsidiary of Parent
held by any current or former officer, director, consultant or employee of Parent,
the Company or any Restricted Subsidiary of Parent pursuant to any equity
subscription agreement, stock option agreement, shareholders’ or members’ agreement
or similar agreement, plan or arrangement; provided that (x) the aggregate
price paid for all such repurchased, redeemed, acquired or retired Equity Interests
may not exceed $5.0 million in any calendar year (provided, however,
that Parent, the Company or Parent’s Restricted Subsidiaries may carry over and make
in the immediately subsequent calendar year, in addition to the amounts permitted
for any such calendar year, the amount of such repurchases, redemptions or other
acquisitions or retirements for value permitted to have been made, but not made, in
the immediately preceding calendar year), and (y) the aggregate price paid for all
such repurchased, redeemed, acquired or retired Equity Interests on or after the
Issue Date may not exceed $40.0 million in the aggregate;

     (5) the repurchase of Equity Interests deemed to occur upon the exercise of
stock options to the extent such Equity Interests represent a portion of the
exercise price of those stock options and the repurchase of Equity Interests deemed
to occur in connection with the exercise of stock options and to the extent
necessary to pay applicable withholding taxes;

     (6) any dividend (or, in the case of any partnership or limited liability
company, any similar distribution) by a Restricted Subsidiary of Parent to the
holders of its Equity Interests on a pro rata basis;

     (7) the declaration and payment of regularly scheduled or accrued dividends or
distributions to holders of any class or series of Disqualified Stock of Parent, the
Company or any Restricted Subsidiary of Parent issued on or after the Issue Date in
accordance with the Fixed Charge Coverage Ratio test set forth in Section
4.09(a);

     (8) the purchase of fractional shares upon conversion of any securities of
Parent or the Company into, or the exercise of rights with respect to, Equity
Interests of Parent or the Company provided that the such fractional shares or the
right to receive such fractional shares shall have not been created for the purpose
of circumventing the provisions of this Section 4.07;

     (9) any redemption or repurchase of Other Second Priority Secured Notes; and

     (10) other Restricted Payments in an aggregate amount not to exceed $50.0
million since the Issue Date.

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     (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 Parent, the Company or such Restricted 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 4.07 will be determined by
the Board of Directors of the Company whose resolution with respect thereto will be
delivered to the Trustee. The Board of Directors’ determination must be based upon an
opinion or appraisal issued by an accounting, appraisal or investment banking firm of
national standing if the Fair Market Value exceeds $25.0 million. For purposes of
determining compliance with this Section 4.07, if a Restricted Payment meets the
criteria of more than one of the exceptions described in clauses (1) through
(10) above or is entitled to be made according to the first paragraph of this
Section 4.07, the Company may, in its sole discretion, classify the Restricted
Payment in any manner that complies with this Section 4.07.

     SECTION 4.08 Dividend and Other Payment Restrictions Affecting Subsidiaries.

     (a) Parent and the Company will not, and will not permit any of Parent’s Restricted
Subsidiaries to, directly or indirectly, create or permit to exist or become effective any
consensual encumbrance or restriction on the ability of the Company or any Restricted
Subsidiary of Parent to:

     (1) pay dividends or make any other distributions on its Capital Stock to
Parent, the Company or any of Parent’s Restricted Subsidiaries, or with respect to
any other interest or participation in, or measured by, its profits, or pay any
Indebtedness owed to Parent, the Company or any of Parent’s Restricted Subsidiaries;

     (2) make loans or advances to Parent, the Company or any of Parent’s Restricted
Subsidiaries; or

     (3) sell, lease or transfer any of its properties or assets to Parent, the
Company or any of Parent’s Restricted Subsidiaries.

     (b) The restrictions in Section 4.08(a) will not apply to encumbrances or
restrictions existing under or by reason of:

     (1) agreements outstanding on the Issue Date, the Credit Agreement and Credit
Facilities as in effect on the Issue Date, the indentures governing the Other Second
Priority Secured Notes and any amendments, restatements, modifications, supplements,
renewals, refundings, replacements or refinancings of those agreements;
provided that such amendments, restatements, modifications, supplements,
renewals, refundings, replacements or refinancings are not materially more
restrictive, taken as a whole, with respect to such dividend and other payment
restrictions than those contained in those agreements on the Issue Date (as
determined in good faith by the Board of Directors of Parent or the Company);

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     (2) this Indenture, the Notes, the Exchange Notes, the Note Guarantees and the
Security Documents;

     (3) applicable law, rule, regulation or order;

     (4) any instrument of a Person acquired by Parent, the Company or any of
Parent’s Restricted Subsidiaries as in effect at the time of such acquisition
(except to the extent such instrument was issued or such agreement was entered into
in connection with or in contemplation of such acquisition), 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;
provided that, in the case of Indebtedness, such Indebtedness was permitted
by the terms of this Indenture to be incurred;

     (5) customary non-assignment provisions or subletting restrictions in
contracts, leases and licenses entered into in the ordinary course of business;

     (6) purchase money obligations for property acquired in the ordinary course of
business and Capital Lease Obligations that impose restrictions on the property
purchased or leased of the nature described in Section 4.08(a)(3);

     (7) any agreement for the sale or other disposition of a Restricted Subsidiary
of Parent that restricts distributions, loans or transfers by that Restricted
Subsidiary pending closing of the sale or other disposition;

     (8) Permitted Refinancing Indebtedness; provided that the restrictions
contained in the agreements governing such Permitted Refinancing Indebtedness are
not materially more restrictive, taken as a whole, with respect to such encumbrance
or restriction set forth in clauses (1), (2) or (3) of
Section 4.08(a) than those contained in the agreements governing the
Indebtedness being extended, renewed, refunded, refinanced, replaced, defeased or
discharged (as determined in good faith by the Board of Directors of Parent or the
Company);

     (9) Liens permitted to be incurred under Section 4.12 that limit the
right of the debtor to dispose of the assets securing such Indebtedness;

     (10) provisions limiting the disposition or distribution of assets or property
or transfer of Capital Stock in joint venture agreements, asset sale agreements,
sale-leaseback agreements, stock sale agreements and other similar agreements
entered into (a) in the ordinary course of business or (b) with the approval of the
Company’s Board of Directors, which limitation is applicable only to the asset or
property that are the subject of such agreements;

     (11) restrictions on cash, Cash Equivalents, Marketable Securities or other
deposits or net worth imposed by customers or lessors under contracts or leases
entered into in the ordinary course of business;

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     (12) Indebtedness or other customary contractual requirements of a Receivables
Subsidiary incurred in connection with a Qualified Receivables Transaction;
provided that such restrictions apply only to such Receivables Subsidiary;
and

     (13) any encumbrances or restrictions imposed by any amendments or refinancings
of the contracts, instruments or obligations referred to above in clauses
(1) through (12); provided that such amendments or refinancings
are not more restrictive, taken as a whole, with respect to encumbrances or
restrictions set forth in clauses (1), (2) or (3) of
Section 4.08(a) than such encumbrances and restrictions prior to such
amendment or refinancing (as determined in good faith by the Board of Directors of
Parent or the Company).

     SECTION 4.09 Incurrence of Indebtedness and Issuance of Preferred Equity.

     (a) Parent and the Company will not, and will not permit any of Parent’s 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 Parent and
the Company will not issue any Disqualified Stock and will not permit the Company or any of
Parent’s Restricted Subsidiaries to issue any Disqualified Stock or any shares of preferred
equity; provided, however, that Parent, the Company and any Restricted
Subsidiary may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock and
the Company and any Restricted Subsidiary may issue preferred equity, if, on the date of
such incurrence or issuance, the Fixed Charge Coverage Ratio for Parent’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
Disqualified Stock or such preferred equity is issued, as the case may be, 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
Disqualified Stock or the preferred equity had been issued, as the case may be, at the
beginning of such four-quarter period; provided, further, that the amount of
Indebtedness (including Acquired Debt) that may be incurred pursuant to the foregoing
Restricted Subsidiaries that are not Subsidiary Guarantors of the Notes shall not exceed
$50.0 million at any one time outstanding.

     (b) The provisions of Section 4.09(a) will not prohibit the incurrence of any
of the following items of Indebtedness (collectively, “Permitted Debt”):

     (1) the incurrence by Parent, the Company or any Subsidiary Guarantor of
Indebtedness and letters of credit and bankers’ acceptances thereunder under Credit
Facilities in an aggregate principal amount at any one time outstanding under this
clause (1) (with letters of credit being deemed to have a principal amount
equal to the maximum potential liability of Parent, the Company and such Subsidiary
Guarantor thereunder) not to exceed $1,650.0 million less the aggregate amount of
all Net Proceeds of Asset Sales applied by Parent, the Company or any of Parent’s
Restricted Subsidiaries since the Issue

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Date to repay any term Indebtedness under a Credit Facility or to repay any
revolving credit Indebtedness under a Credit Facility and effect a corresponding
commitment reduction thereunder pursuant to Section 4.10;

     (2) the incurrence by Parent, the Company and Parent’s Restricted Subsidiaries
of Indebtedness represented by (a) the Notes issued on the Issue Date, the Note
Guarantees and the related Exchange Notes and Exchange Guarantees issued in a
registered exchange offer pursuant to the Registration Rights Agreement, (b) any
Indebtedness (other than Indebtedness described in clause (1)) and (c) issuance of
preferred equity outstanding on the Issue Date, reduced to the extent such amounts
shall have been repaid or retired;

     (3) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of Indebtedness represented by mortgage financings or purchase money
obligations (but not Capital Lease Obligations), in each case, incurred for the
purpose of financing all or any part of the purchase price or cost of design,
development, construction, installation or improvement of property (real or
personal), plant or equipment used in the ordinary course of business of Parent, the
Company or any of Parent’s Restricted Subsidiaries and any Permitted Refinancing
Indebtedness in exchange for, or the net proceeds of which are used to renew,
refund, refinance, replace, defease or discharge any Indebtedness (other than
intercompany Indebtedness) that was permitted by this clause (3) in an
aggregate principal amount which, when taken together with all other Indebtedness of
Parent, the Company and Parent’s Restricted Subsidiaries incurred pursuant to this
clause (3) and clause (14) and outstanding on the date of such
incurrence, does not exceed $350.0 million;

     (4) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net
proceeds of which are used to renew, refund, refinance, replace, defease or
discharge any Indebtedness (other than intercompany Indebtedness) that was permitted
by this Indenture to be incurred under Section 4.09(a) or clause
(1), (2), (4), or (11) of this Section 4.09(b);

     (5) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of intercompany Indebtedness between or among Parent, the Company and
any of Parent’s Restricted Subsidiaries; provided, however, that:

     (a) if Parent, the Company or any Subsidiary Guarantor is the obligor
on such Indebtedness and the payee is not Parent, the Company or a
Subsidiary Guarantor, such Indebtedness is expressly subordinated in right
of payment to the prior payment in full in cash of all Obligations then due
with respect to the Notes, in the case of the Company, or the Note
Guarantee, in the case of Parent or a Subsidiary Guarantor; and

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     (b) (i) any subsequent issuance or transfer of Equity Interests that
results in any such Indebtedness being held by a Person other than Parent,
the Company or a Restricted Subsidiary of Parent and (ii) any sale or other
transfer of any such Indebtedness to a Person that is not either Parent, the
Company or a Restricted Subsidiary of Parent, shall be deemed, in each case,
to constitute an incurrence of such Indebtedness by Parent, the Company or
such Restricted Subsidiary, as the case may be, that was not permitted by
this clause (5);

     (6) the issuance by the Company or any of Parent’s Restricted Subsidiaries to
Parent or the Company or to another Restricted Subsidiary of Parent of shares of
preferred equity; provided, however, that:

     (a) any subsequent issuance or transfer of Equity Interests that
results in any such preferred equity being held by a Person other than
Parent, the Company or a Restricted Subsidiary of Parent, and

     (b) any sale or other transfer of any such preferred equity to a Person
that is not either Parent, the Company or a Restricted Subsidiary of Parent,

shall be deemed, in each case, to constitute an issuance of such preferred equity or
Disqualified Stock by the Company or such Restricted Subsidiary that was not
permitted by this clause (6);

     (7) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of Hedging Obligations in the ordinary course of business and not for
speculative purposes;

     (8) the guarantee by Parent, the Company or any Restricted Subsidiary of Parent
of Indebtedness of Parent, the Company or a Restricted Subsidiary of Parent that was
permitted to be incurred by another provision of this Section 4.09
(including Section 4.09(a)); provided that (A) if the Indebtedness
being guaranteed is subordinated in right of payment to the Notes or the Note
Guarantees, as applicable, then the guarantee thereof shall be subordinated in right
of payment to the Notes or the Note Guarantee, as applicable, to the same extent as
the Indebtedness so guaranteed and (B) if the Indebtedness being guaranteed is
pari passu in right of payment to the Notes or the Note Guarantee,
then the guarantee thereof shall be pari passu in right of payment to the Notes or
the Note Guarantee, as applicable, to the same extent as the Indebtedness so
guaranteed, provided, further, that any Restricted Subsidiary of
Parent that guarantees other Indebtedness pursuant to this clause (8) shall
concurrently guarantee, or already be a Subsidiary Guarantor with respect to, the
Notes pursuant to Section 4.19;

     (9) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of Indebtedness in respect of workers’ compensation

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claims, payment obligations in connection with health or other types of social
security benefits, unemployment or other insurance or self-insurance obligations,
insurance premium finance agreements, reclamation, statutory obligations, bankers’
acceptances and performance, appeal or surety bonds in the ordinary course of
business;

     (10) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument inadvertently drawn against
insufficient funds so long as such Indebtedness is covered within five business
days;

     (11) Indebtedness, Disqualified Stock or preferred equity of any Person that is
acquired by Parent, the Company or any of Parent’s Restricted Subsidiaries or merged
into or consolidated with, or transfers substantially all of its assets to, a
Restricted Subsidiary in of Parent accordance with the terms of this Indenture;
provided, however, that such Indebtedness, Disqualified Stock or
preferred equity is not incurred or issued in contemplation of such acquisition or
merger or to provide all or a portion of the funds or credit support required to
consummate such acquisition or merger; provided further, that the
aggregate principal amount of any such Indebtedness, Disqualified Stock or preferred
equity incurred or issued pursuant to this clause (11) since the Issue Date,
including all Permitted Refinancing Indebtedness incurred to extend, renew, refund,
refinance, replace, defease or discharge any Indebtedness incurred pursuant to this
clause (11), shall not exceed $50.0 million in the aggregate;

     (12) the incurrence of Indebtedness consisting of indemnification, adjustment
of purchase price or similar obligations, in each case, incurred or assumed in
connection with the disposition of any business, assets or a Subsidiary in
accordance with the terms of this Indenture, other than guarantees of Indebtedness
incurred or assumed by any Person acquiring all or any portion of such business,
assets or Subsidiary for the purpose of financing such acquisition;

     (13) the incurrence of Indebtedness of the Company owing to the Captive
Insurance Companies; provided, that the aggregate principal amount of any
such Indebtedness incurred pursuant to this clause (13) shall not exceed
$35.0 million at any one time outstanding; provided, further, that
(i) any event that results in a Captive Insurance Company ceasing to be a Subsidiary
of Parent or (ii) any sale or other transfer of any such Indebtedness to a Person
that is not a Captive Insurance Company, shall be deemed, in each case, to
constitute an incurrence of such Indebtedness by Company that was not permitted by
this clause (13);

     (14) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries in the ordinary course of business of Capital Lease Obligations with
respect to Motor Vehicles and any Permitted Refinancing Indebtedness in exchange
for, or the net proceeds of which are used to renew,

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refund, refinance, replace, defease or discharge any Indebtedness (other than
intercompany Indebtedness) that was permitted by this clause (14) in an
aggregate principal amount which, when taken together with all other Capital Lease
Obligations of Parent, the Company and Parent’s Restricted Subsidiaries incurred
pursuant to this clause (14) and clause (3) above and outstanding on
the date of such incurrence, does not exceed $350.0 million;

     (15) the incurrence of Indebtedness by a Receivables Subsidiary in a Qualified
Receivables Transaction that is not recourse to Parent or any of Parent’s Restricted
Subsidiary that is not a Receivables Subsidiary (except for Standard Securitization
Undertakings), provided that Parent, the Company or the applicable
Restricted Subsidiary applies the proceeds of such transaction in compliance with
Section 4.10; and

     (16) the incurrence by Parent, the Company or any of Parent’s Restricted
Subsidiaries of additional Indebtedness or issuance of Disqualified Stock or
preferred equity in an aggregate principal amount at any time outstanding, including
all Permitted Refinancing Indebtedness incurred to extend, renew, refund, refinance,
replace, defease or discharge any Indebtedness incurred pursuant to this clause
(16), not to exceed $80.0 million.

     (c) Parent and the Company will not incur, and will not permit any Subsidiary Guarantor
to incur, any Indebtedness (including Permitted Debt) that is contractually subordinated in
right of payment to any other Indebtedness of Parent, the Company or such Subsidiary
Guarantor unless such Indebtedness is also contractually subordinated in right of payment to
the Notes and the applicable Note Guarantee on substantially identical terms; provided,
however, that no Indebtedness will be deemed to be contractually subordinated in right of
payment to any other Indebtedness of Parent, the Company or any Subsidiary Guarantor solely
by virtue of being unsecured or by virtue of being secured on a first or junior Lien basis.

     (d) For purposes of determining compliance with this Section 4.09, in the event
that an item of proposed Indebtedness, Disqualified Stock or preferred equity meets the
criteria of more than one of the categories of Permitted Debt described in clauses
(1) through (16) of Section 4.09(b), or is entitled to be incurred
pursuant to Section 4.09(a), the Company will be permitted to classify such item of
Indebtedness, Disqualified Stock or preferred equity on the date of its incurrence and will
only be required to include the amount and type of such Indebtedness, Disqualified Stock or
preferred equity in one of clauses (1) through (16) of Section
4.09(b) or as having been incurred pursuant to Section 4.09(a), although the
Company may divide and classify an item of Indebtedness, Disqualified Stock or preferred
equity in one or more of the categories of Permitted Debt described in such clauses or as
having been incurred pursuant to Section 4.09(a) and may later reclassify all or a
portion of such item of Indebtedness, Disqualified Stock or preferred equity, in any manner
that complies with this Section 4.09. Indebtedness under Credit Facilities
outstanding on the Issue Date and the Indebtedness represented by the Notes and the related
Note Guarantees will be deemed to have been incurred on such date in reliance on the
exception provided by clause (1) of the definition of Permitted Debt.

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The accrual of interest or dividends, the accretion of accreted value or amortization
of original issue discount, the payment of interest on any Indebtedness in the form of
additional Indebtedness with the same terms, the reclassification of preferred equity as
Indebtedness due to a change in accounting principles, and the payment of dividends on
Disqualified Stock or preferred equity in the form of additional shares of the same class of
Disqualified Stock or preferred equity will not be deemed to be an incurrence of
Indebtedness or an issuance of Disqualified Stock or preferred equity for purposes of this
Section 4.09; provided, in each such case (other than preferred stock that
is not Disqualified Stock), that the amount of any such accrual, accretion or amortization
or payment (without duplication) is included in Fixed Charges of Parent, the Company and
Parent’s Restricted Subsidiaries as accrued, accreted or amortized or paid. Notwithstanding
any other provision of this Section 4.09, the maximum amount of Indebtedness that
Parent, the Company or any Restricted Subsidiary may incur pursuant to this Section
4.09 shall not be deemed to be exceeded solely as a result of fluctuations in exchange
rates or currency values.

     SECTION 4.10 Asset Sales. Parent and the Company will not, and will not permit any
of Parent’s Restricted Subsidiaries to, consummate an Asset Sale unless:

     (1) Parent, the Company 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 Parent, the
Company or such Restricted Subsidiary is in the form of cash or Cash Equivalents or
Marketable Securities. For purposes of this provision, each of the following will be
deemed to be cash:

     (A) any liabilities, as shown on Parent’s most recent consolidated
balance sheet, of Parent, the Company or any Restricted Subsidiary of Parent
(other than contingent liabilities and liabilities that are by their terms
subordinated to the Notes or any Note Guarantee) that are assumed by the
transferee of any such assets pursuant to a customary novation or other
agreement that releases Parent, the Company or such Restricted Subsidiary
from further liability;

     (B) any securities, notes or other obligations received by Parent, the
Company or any such Restricted Subsidiary from such transferee that are
converted by Parent, the Company or such Restricted Subsidiary into cash or
Cash Equivalents within 120 days of the receipt thereof, to the extent of
the cash or Cash Equivalents received in that conversion; or

     (C) any Capital Stock or assets of the kind referred to in clause
(2) or (4) of the second following paragraph of this Section
4.10.

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     In the event of an Asset Sale consisting of (x) any sale and leaseback transaction (but
excluding sale and leaseback transactions the proceeds of which are used to finance or refinance
the purchase of Motor Vehicles and related assets acquired within 180 days prior to the incurrence
of such Indebtedness) or (y) any Qualified Receivables Transaction to the extent such Qualified
Receivables Transaction raise Net Proceeds in excess of $275.0 million (and only to the extent of
any such excess) (each, a “Designated Asset Sale”), the Company (or the Parent or the
applicable Restricted Subsidiary, as the case may be) shall apply the Net Proceeds from such
Designated Asset Sale (“Designated Net Proceeds”) either to:

     (1) within five Business Days of the receipt of such Net Proceeds, repay
outstanding first priority lien obligations and, if such first priority lien
obligations are revolving credit Indebtedness, to correspondingly permanently reduce
commitments with respect thereto; and

     (2) in the event that any Designated Net Proceeds remain after the repayment
referred to in the immediately preceding clause (1) (such remaining Net
Proceeds are herein referred to as “Excess Designated Proceeds”), within 30
days after the Designated Asset Sale giving rise to such Excess Designated Proceeds,
the Company (or the Parent or the applicable Restricted Subsidiary, as the case may
be) will, in accordance with the provisions of Section 3.09, make a
Designated Asset Sale Offer to all Holders and all holders of Pari Passu
Indebtedness containing provisions similar to those set forth in this Indenture with
respect to offers to purchase or redeem with the proceeds of sales of assets to
purchase the maximum principal amount of Notes and such Pari Passu Indebtedness that
may be purchased out of their pro rata portion of the Excess Designated Proceeds.

     Unless otherwise provided in the preceding paragraph, within 365 days after the receipt of any
Net Proceeds from an Asset Sale, the Issuer (or the Parent or the applicable Restricted Subsidiary,
as the case may be), may apply such Net Proceeds, at its option:

     (1) to repay First Priority Lien Obligations and, if such First Priority Lien
Obligations is revolving credit Indebtedness, to correspondingly permanently reduce
commitments with respect thereto;

     (2) to acquire all or substantially all of the assets of, or any Capital Stock
of, another Permitted Business; provided, that in the case of any such
acquisition of Capital Stock, the Permitted Business is or becomes a Restricted
Subsidiary of Parent; and provided, further, that if such
acquisition is made with the proceeds from any Asset Sale of Collateral, the
acquired assets or Capital Stock shall be pledged as Collateral as soon as
practicable or as otherwise permissible under Section 4.23 and, in the case
of Capital Stock, subject to the limitations described above under Section
10.01; provided, further, that acquisitions of assets or Capital
Stock described in this clause (2) that occurred within 90 days prior to the
relevant Asset Sale shall be treated as a permitted application pursuant to this
clause (2);

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     (3) to make a capital expenditure; or

     (4) to acquire other assets that are not classified as current assets under
GAAP and that are used or useful in a Permitted Business; provided, that if
such acquisition is made with the proceeds from any Asset Sale of Collateral, the
acquired assets or Capital Stock shall be pledged as Collateral as soon as
practicable or as otherwise permissible under Section 4.23, with the Lien on
such Collateral securing the Notes being of the same priority with respect to the
Notes or Indebtedness as the Lien on the assets disposed of; provided further, that
acquisitions of assets described in this clause (4) that occurred within 90 days
prior to the relevant Asset Sale shall be treated as a permitted application
pursuant to this clause (4).

     Pending the final application of any Net Proceeds, the Issuer (or the Parent or the applicable
Restricted Subsidiary, as the case may be), may temporarily reduce revolving credit borrowings or
otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture.

     Any Net Proceeds from Asset Sales that are not applied or invested as provided in the third
paragraph of this Section 4.10 will constitute “Excess Proceeds.” When the aggregate
amount of Excess Proceeds exceeds $20.0 million, within 30 days thereof, the Issuer will make an
Asset Sale Offer to all Holders and all holders of Pari Passu Indebtedness containing provisions
similar to those set forth in this Indenture with respect to offers to purchase or redeem with the
proceeds of sales of assets to purchase the maximum principal amount of Notes and such Pari Passu
Indebtedness that may be purchased out of the Excess Proceeds.

     SECTION 4.11 Transactions with Affiliates.

     (a) Parent and the Company will not, and will not permit any of Parent’s 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, loan, advance or guarantee with, or for
the benefit of, any Affiliate of Parent or the Company or of any of Parent’s Restricted
Subsidiaries (each, an “Affiliate Transaction”), unless:

     (1) the Affiliate Transaction is on terms that are not materially less
favorable to Parent, the Company or the relevant Restricted Subsidiary (as
determined by in good faith by the Board of Directors of Parent or the Company) than
those that would have been obtained in a comparable transaction by Parent, the
Company or such Restricted Subsidiary with an unrelated Person; and

     (2) the Company delivers to the Trustee:

     (A) with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate consideration in excess of $10.0
million, a resolution of the Board of Directors of the Company set forth in
an Officers’ Certificate certifying that such Affiliate Transaction complies
with this Section 4.11 and that such Affiliate Transaction has

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been approved by a majority (including a majority of the disinterested
members, if any), of the Board of Directors of the Company; and

     (B) with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate consideration in excess of $25.0
million, an opinion as to the fairness to Parent, the Company or such
Restricted Subsidiary of such Affiliate Transaction from a financial point
of view issued by an accounting, appraisal or investment banking firm of
national standing.

     (b) The following items will not be deemed to be Affiliate Transactions and, therefore,
will not be subject to the provisions of Section 4.11(a):

     (1) any employment or consulting agreement, employee benefit plan, officer or
director indemnification agreement or any similar arrangement entered into by
Parent, the Company or any of Parent’s Restricted Subsidiaries in the ordinary
course of business and payments pursuant thereto;

     (2) transactions between or among Parent, the Company and/or any of Parent’s
Restricted Subsidiaries;

     (3) transactions with a Person (other than an Unrestricted Subsidiary) that is
an Affiliate of Parent, the Company or a Restricted Subsidiary of Parent solely
because Parent, the Company or such Restricted Subsidiary owns an Equity Interest
in, or controls, such Person;

     (4) payment of reasonable fees to, and indemnity provided on behalf of,
officers, directors, employees or consultants of Parent, the Company or any of
Parent’s Restricted Subsidiaries;

     (5) any issuance of Equity Interests (other than Disqualified Stock) of Parent
to Affiliates of Parent;

     (6) Restricted Payments and Investments that do not violate the provisions of
Section 4.07;

     (7) transactions effected pursuant to agreements in effect on the Issue Date
and, to the extent the amount involved exceeds $120,000, described in the Offering
Memorandum and any amendment, modification or replacement of such agreement (so long
as such amendment or replacement is not less favorable to Parent, the Company, any
Restricted Subsidiary of Parent or the Holders, taken as a whole, than the original
agreement as in effect on the Issue Date as determined in good faith by the Board of
Directors of Parent or the Company);

     (8) any agreement between any Person and an Affiliate of such Person existing
at the time such Person is acquired by or merged into Parent, the Company or any of
Parent’s Restricted Subsidiaries; provided, that such agreement was not
entered into contemplation of such acquisition or merger, or

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any amendment thereto (so long as any such amendment is not disadvantageous to
the Holders of the Notes when taken as a whole as compared to the applicable
agreement as in effect on the date of such acquisition or merger);

     (9) any transactions in connection with the Concurrent Transactions; and

     (10) any Qualified Receivables Transaction.

     SECTION 4.12 Liens. Parent and the Company will not and will not permit any of
Parent’s Restricted Subsidiaries to create, incur, assume or otherwise cause or suffer to exist or
become effective (i) any Lien of any kind (other than Permitted Liens) on any asset or property of
Parent, the Company or any of Parent’s Restricted Subsidiaries securing Indebtedness unless the
Notes are equally and ratably secured with (or on a senior basis to, in the case of obligations
subordinated in right of payment to the Notes) the obligations so secured until such time as such
obligations are no longer secured by a Lien or (ii) any Lien of any kind securing any First
Priority Lien Obligation of Parent, the Company or any Subsidiary Guarantor without effectively
providing that the Notes or the applicable Note Guarantee, as the case may be, shall be granted a
second priority security interest (subject to Permitted Liens) upon the assets or property
constituting the collateral for such First Priority Lien Obligations, except as set forth under
Section 10.01; provided, however, that, with respect to this clause
(ii), if granting such second priority security interest requires the consent of a third party,
the Company will use commercially reasonable efforts to obtain such consent with respect to the
second priority interest for the benefit of the Collateral Agent on behalf of the Holders of the
Notes; provided further, however, that, with respect to this clause
(ii), if such third party does not consent to the granting of such second priority security
interest after the use of such commercially reasonable efforts, Parent, the Company or such
Subsidiary Guarantor, as the case may be, will not be required to provide such security interest.

     SECTION 4.13 Business Activities.

     Parent and the Company will not, and will not permit any of Parent’s Restricted Subsidiaries
to, engage in any business other than Permitted Businesses, except to such extent as would not be
material to Parent, the Company and Parent’s Restricted Subsidiaries taken as a whole.

     SECTION 4.14 Corporate Existence. Subject to Article 5 hereof, Parent and
the Company shall do or cause to be done all things necessary to preserve and keep in full force
and effect:

     (1) its corporate existence, and the corporate, partnership or other existence
of each of its Subsidiaries, in accordance with the respective organizational
documents (as the same may be amended from time to time) of Parent, the Company or
any such Subsidiary; and

     (2) the rights (charter and statutory), licenses and franchises of Parent, the
Company and its Subsidiaries; provided, however, that the Company
shall not be required to preserve any such right, license or franchise, or the
corporate,

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partnership or other existence of any of its Subsidiaries, if at least two
Officers of the Company, one of which is the Chief Executive Officer or the Chief
Financial Officer of the Company, shall determine that the preservation thereof is
no longer desirable in the conduct of the business of Parent, the Company and their
respective Subsidiaries, taken as a whole, and that the loss thereof is not adverse
in any material respect to the Holders.

     SECTION 4.15 Offer to Repurchase Upon Change of Control.

     (a) If a Change of Control occurs, the Company will make an offer (a “Change of
Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or a
larger integral multiple of $1,000) of each Holder’s Notes at a purchase price equal to 101%
of the aggregate principal amount thereof plus accrued and unpaid interest on the Notes
repurchased to, but not including, the date of purchase, subject to the rights of the
Holders on the relevant record date to receive interest due on the relevant interest payment
date (the “Change of Control Payment”). Within 30 days following any Change of
Control, the Company will or will cause the Trustee to mail a notice to each Holder
describing the transaction or transactions that constitute the Change of Control and
stating:

     (1) that the Change of Control Offer is being made pursuant to this Section
4.15 and that all Notes tendered and not withdrawn will be accepted for payment;

     (2) the purchase price and the purchase date, which shall be no earlier than 30
days and no later than 60 days from the date such notice is mailed (the “Change
of Control Payment Date”);

     (3) that any Note not tendered will continue to accrue interest;

     (4) that, unless the Company defaults in the payment of the Change of Control
Payment, all Notes accepted for payment pursuant to the Change of Control Offer will
cease to accrue interest after the Change of Control Payment Date;

     (5) that Holders electing to have any Notes purchased pursuant to a Change of
Control Offer will be required to surrender the Notes, with the form entitled
“Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by
book-entry transfer, to the Paying Agent at the address specified in the notice
prior to the close of business on the third Business Day preceding the Change of
Control Payment Date;

     (6) that Holders will be entitled to withdraw their election if the Paying
Agent receives, not later than the close of business on the second Business Day
preceding the Change of Control Payment Date, a telegram, telex, facsimile
transmission, email or letter setting forth the name of the Holder, the principal
amount of Notes the Holder delivered for purchase, and a statement that such Holder
is withdrawing his election to have such Notes purchased; and

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     (7) that Holders whose Notes are being purchased only in part will be issued
new Notes equal in principal amount to the unpurchased portion of the Notes
surrendered, which unpurchased portion must be equal to $2,000 in principal amount
or a larger integral multiple of $1,000.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change in Control. To
the extent that the provisions of any securities laws or regulations conflict with the provisions
of this Section 4.15, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under this Section 4.15
by virtue of such compliance.

     (b) On the Change of Control Payment Date, the Company 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 Officers’ Certificate stating the aggregate principal amount of
Notes or portions of Notes being purchased by the Company.

     Upon receipt of the Change of Control Payment and Officers’ Certificate described
above, the Paying Agent will promptly mail or wire transfer to each Holder of Notes properly
tendered and so accepted 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 $2,000 or a larger
integral multiple of $1,000. Any Note so accepted for payment will cease to accrue interest
on and after the Change of Control Payment Date. The Company will publicly announce the
results of the Change of Control Offer on or as soon as reasonably practicable after the
Change of Control Payment Date.

     (c) Notwithstanding anything to the contrary in this Section 4.15, the Company
will not be required to make a Change of Control Offer upon a Change of Control 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 4.15 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 Section 3.07, unless and until there is a
default in payment of the applicable redemption price. Notwithstanding anything to the
contrary in this Section 4.15, a Change of Control Offer may be made in advance of a
Change of Control, conditional upon such Change of Control, if a definitive

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agreement is in place for the Change of Control at the time of making of the Change of
Control Offer.

     SECTION 4.16 [Reserved]

     SECTION 4.17 Limitation on Sale and Leaseback Transactions. Parent and the Company
will not, and will not permit any of Parent’s Restricted Subsidiaries to, enter into any sale and
leaseback transaction; provided that Parent, the Company or any Restricted Subsidiary of
Parent may enter into a sale and leaseback transaction if:

     (1) Parent, the Company or that Restricted Subsidiary, as applicable, could
have (a) incurred Indebtedness in an amount equal to the Attributable Debt relating
to such sale and leaseback transaction under Section 4.09 and (b) incurred a
Lien to secure such Indebtedness pursuant to the provisions of Section 4.12
hereof;

     (2) the gross cash proceeds of that sale and leaseback transaction are at least
equal to the Fair Market Value, as determined in good faith by the Board of
Directors of the Company and set forth in an Officers’ Certificate delivered to the
Trustee, of the property that is the subject of that sale and leaseback transaction;
and

     (3) the transfer of assets in that sale and leaseback transaction is permitted
by, and Parent, the Company or the applicable Restricted Subsidiary applies the
proceeds of such transaction in compliance with, Section 4.10.

     SECTION 4.18 Payments for Consent. Parent and the Company will not, and will not
permit any of Parent’s Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid
any consideration to or for the benefit of any Holder for or as an inducement to any consent,
waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such
consideration is offered to be paid and is paid to all Holders that consent, waive or agree to
amend in the time frame set forth in the solicitation documents relating to such consent, waiver or
agreement.

     SECTION 4.19 Additional Note Guarantees. Parent and the Company will not permit any
of Parent’s Restricted Subsidiaries, directly or indirectly, to guarantee the payment of any other
Indebtedness of Parent, the Company or any of Parent’s Restricted Subsidiaries unless such
Restricted Subsidiary (other than a Restricted Subsidiary that is already a Guarantor)
simultaneously executes and delivers a supplemental indenture in the form of Exhibit E
hereto and Note Guarantee providing for the guarantee of the payment of the Notes by such
Restricted Subsidiary, which guarantee will be senior to or pari passu in right of
payment with such Restricted Subsidiary’s guarantee of such other Indebtedness, and simultaneously
executes and delivers the applicable Security Documents pursuant to which its assets (of the same
type as the assets of Parent, the Company and the other Subsidiary Guarantors constituting
Collateral) will become part of the Collateral and will secure the Notes and Note Guarantees in the
manner specified in this Indenture and the Security Documents.

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     SECTION 4.20 Designation of Restricted and Unrestricted Subsidiaries. The Board of
Directors of the Company may designate any Subsidiary (including any newly acquired or newly formed
Subsidiary or Person becoming a Subsidiary through merger or consolidation or Investment therein)
to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted
Subsidiary is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all
outstanding Investments owned by Parent, the Company and Parent’s Restricted Subsidiaries in the
Subsidiary designated as an Unrestricted Subsidiary shall be deemed to be an Investment made as of
the time of the designation and will reduce the amount available for Restricted Payments under
Section 4.07 or under one or more clauses of the definition of “Permitted Investments”, as
determined by the Company. That designation will only be permitted if such Investment would be
permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an
Unrestricted Subsidiary.

     Any designation of a Subsidiary of Parent as an Unrestricted Subsidiary will be evidenced to
the Trustee by filing with the Trustee a certified copy of a resolution of the Board of Directors
of the Company giving effect to such designation and an Officers’ Certificate certifying that such
designation complied with the conditions specified in clauses (1) to (4) of the
definition of “Unrestricted Subsidiary” and was permitted under Section 4.07. If, at any
time, any Unrestricted Subsidiary would fail to meet the preceding requirements specified in
clauses (1) to (4) of the definition of “Unrestricted Subsidiary”, it will
thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any
Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of Parent
as of such date and, if such Indebtedness is not permitted to be incurred as of such date under
Section 4.09, the Company will be in default of such covenant. The Board of Directors of
the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of
Parent; provided that such designation will be deemed to be an incurrence of Indebtedness
by a Restricted Subsidiary of Parent of any outstanding Indebtedness of such Unrestricted
Subsidiary, and such designation will only be permitted if (1) such Indebtedness is permitted under
Section 4.09, calculated on a pro forma basis as if such designation had occurred at the
beginning of the four-quarter reference period; and (2) no Event of Default would be in existence
following such designation.

     SECTION 4.21 Amendment of Security Documents. The Company shall not amend, modify or
supplement, or permit or consent to any amendment, modification or supplement of, the Security
Documents in any way that would be adverse to the Holders of the Notes in any material respect,
except as permitted under Section 10.01 or as permitted under Article 9.

     SECTION 4.22 Post-Closing Obligations. (a) Within thirty (30) days after the Issue
Date; provided, such thirty (30) day period may be extended an additional thirty (30) days with the
consent of the Representatives, the Initial Purchasers and the Trustee shall have the following
documents, which shall be reasonably satisfactory in form and substance to the Initial Purchasers,
the Trustee and each of their respective counsel with respect to the Collateral, as appropriate;
provided, further that, such thirty (30) day period shall be deemed to have been extended for any
one or more successive periods to the extent the administrative agent under the Credit Agreement
has consented to comparable extension with respect to the Credit Agreement:

     (1) Copies of, or certificates as to coverage under, insurance policies
covering the property and assets of the Issuer and the Guarantors as required by

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the Indenture, each of which policies or certificates shall be in form and
substance reasonably acceptable to the Initial Purchasers and reflect the Collateral
Agent for its benefit and the benefit of the Trustee and the holders of the Notes,
as additional insured, loss payee or mortgagee;

     (b) Within ninety (90) days after the Issue Date the Initial Purchasers and the Trustee
shall have the following documents, which shall be reasonably satisfactory in form and
substance to the Initial Purchasers, the Trustee and each of their respective counsel with
respect to each of the Mortgaged Properties (defined below), as appropriate; provided that
such ninety (90) day period shall be deemed to have been extended for any one or more
successive periods to the extent the First Priority Representative has consented to
comparable extension with respect to the same Collateral securing the Credit Agreement:

     (1) arrangements satisfactory to the Collateral Agent for the completion of all
recordings and filings of each Mortgage with respect to each of the properties set
forth on Schedule 4.22 hereto (each, individually, a “Mortgaged Property”
and, collectively, the “Mortgaged Properties”) as may be necessary to create
a valid, perfected second priority Lien against the properties purported to be
covered thereby;

     (2) mortgagee’s title insurance policies in favor of the Collateral Agent in
amounts and in form and substance and issued by insurers, reasonably satisfactory to
the Collateral Agent, insuring fee simple title (provided that in jurisdictions that
impose mortgage recording taxes, the Security Documents shall not secure
Indebtedness in an amount exceeding 120% of the fair market value of the Mortgaged
Property, as reasonably determined in good faith by the Company and reasonably
acceptable to the Collateral Agent) and that the interests created by each such
Mortgage constitute valid Liens thereon free and clear of all defects and
encumbrances other than Permitted Liens, and if required by the Collateral Agent,
and if requested by the Collateral Agent and if available, revolving credit
endorsement, comprehensive endorsement, variable rate endorsement, access and
utilities endorsements, mechanic’s lien endorsement and such other endorsements as
the Collateral Agent shall reasonably request, and shall be accompanied by evidence
of the payment in full of all premiums thereon;

     (3) American Land Title Association/American Congress on Surveying and Mapping
form surveys, for which all necessary fees (where applicable) have been paid, and
dated no more than thirty (30) days before the day of the granting of the applicable
Mortgage, certified to the Collateral Agent and the issuer of the title insurance
policies in a manner reasonably satisfactory to the Collateral Agent by a land
surveyor duly registered and licensed in the states in which the property described
in such surveys is located and acceptable to the Collateral Agent, showing all
buildings and other improvements, the location of any easements, parking spaces,
rights of way, building set-back lines and other dimensional regulations and the
absence of encroachments, either by such

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improvements or on to such property, and other defects, other than
encroachments and other defects acceptable to the Collateral Agent;

     (4) (x) a “life of loan” standard flood hazard determination with respect to
such Mortgaged Property and (y) with respect to each Mortgaged Property required to
be insured pursuant to the Flood Disaster Protection Act of 1973 or the National
Flood Insurance Act of 1968, and the regulations promulgated thereunder, because it
is located in an area which has been identified by the Secretary of Housing and
Urban Development as a “special flood hazard area,” (i) a policy of flood insurance
that (A) covers such Mortgaged Property and (B) is written in an amount reasonably
satisfactory to the Collateral Agent and (ii) a confirmation that the Company has
received the notice requested pursuant to Section 208.25(i) of Regulation H of the
Board of Governors of the Federal Reserve System;

     (5) Phase I Environmental Site Assessments, and, if requested by Collateral
Agent, Phase II Environmental Site Assessments; and

     (6) an opinion of counsel in each jurisdiction where the Mortgaged Property is
located and an opinion of counsel in the jurisdiction of organization of the grantor
under each Mortgage with respect to each Mortgaged Property.

     (c) Within sixty (60) days after the Issue Date or such later date as may be agreed by
the Representatives in their reasonable discretion (provided, such sixty (60) day period
shall be deemed to have been extended for any one or more successive periods to the extent
the administrative agent under the Credit Agreement has consented to comparable extension
with respect to the same Collateral securing the Credit Agreement), the Issuer and
Guarantors shall use their commercially reasonable efforts to execute and deliver a deposit
account control agreement that is either (i) in substantially the same form as entered into
with respect to the Credit Agreement except to reflect the second-priority liens in favor of
the Collateral Agent for its benefit and the benefit of Trustee and holders of the Notes or
(ii) a four party control agreement in favor of both the Collateral Agent and the
administrative agent under the Credit Agreement with respect to each deposit account and
securities account that is required to be subject to a control agreement pursuant to the
Credit Agreement.

     SECTION 4.23 After-Acquired Property. If Parent, the Company or any Subsidiary
Guarantor shall acquire any First Priority After-Acquired Property, Parent, the Company or such
Subsidiary Guarantor shall execute and deliver such mortgages, deeds of trust, security
instruments, financing statements and certificates and opinions of counsel (and in the case of
First Priority After-Acquired Property that is real property, such documents and instruments that
were required to be delivered in connection with the Mortgages that were required to be provided in
accordance with Section 4.22) as shall be reasonably necessary to vest in the Collateral
Agent on behalf of the Holders of the Notes a perfected security interest, subject only to
Permitted Liens, in such First Priority After-Acquired Property and to have such First Priority
After-Acquired Property (but subject to certain limitations, if applicable, including as described
under Section 10.01) added to the Collateral, and thereupon all provisions of this
Indenture relating to

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the Collateral shall be deemed to relate to such First Priority After-Acquired Property to the
same extent and with the same force and effect; provided, however, that if granting
such second priority security interest in such First Priority After-Acquired Property requires the
consent of a third party, the Company will use commercially reasonable efforts to obtain such
consent with respect to the second priority interest for the benefit of the Collateral Agent on
behalf of the Holders of the Notes; provided further, however, that if such
third party does not consent to the granting of such second priority security interest after the
use of such commercially reasonable efforts, Parent, the Company or such Subsidiary Guarantor, as
the case may be, will not be required to provide such security interest.

     SECTION 4.24 Effectiveness of Covenants.

     (a) Following the first day:

     (1) the Notes have an Investment Grade Rating from both of the Ratings
Agencies; and

     (2) no Default has occurred and is continuing under this Indenture;

the Company, Parent and Parent’s Restricted Subsidiaries shall not be subject to the provisions of
Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.15,
5.01(a)(4) and 5.01(b)(4) (collectively, the “Suspended Covenants”).

     (b) If at any time the Notes’ credit rating is downgraded from an Investment Grade
Rating by any Rating Agency, then the Suspended Covenants will thereafter be reinstated as
if such covenants had never been suspended (the “Reinstatement Date”) and be
applicable pursuant to the terms of this Indenture (including in connection with performing
any calculation or assessment to determine compliance with the terms of this Indenture),
unless and until the Notes subsequently attain an Investment Grade Rating (in which event
the Suspended Covenants shall no longer be in effect for such time that the Notes maintain
an Investment Grade Rating); provided, however, that no Default, Event of
Default or breach of any kind shall be deemed to exist under this Indenture, the Notes or
the Note Guarantees with respect to the Suspended Covenants based on, and none of the
Company, Parent or any of its Subsidiaries shall bear any liability for, any actions taken
or events occurring after the Notes attain Investment Grade Rating and before any
reinstatement of such Suspended Covenants as provided above , or any actions taken at any
time pursuant to any contractual obligation arising prior to such reinstatement, regardless
of whether such actions or events would have been permitted if the applicable Suspended
Covenants remained in effect during such period; provided, further, that (1)
all Indebtedness incurred, or Disqualified Stock or preferred stock issued, during the
period when the Suspended Covenants are suspended will be classified to have been incurred
or issued pursuant Section 4.09(b)(2) and (2) upon any such reinstatement the amount
of Excess Proceeds from Net Proceeds shall be reset at zero.

     (c) During any period when the Suspended Covenants are suspended, the Board of
Directors of Parent may not designate any of the Parent’s Subsidiaries as Unrestricted
Subsidiaries pursuant to this Indenture.

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ARTICLE 5

SUCCESSORS

     SECTION 5.01 Merger, Consolidation, or Sale of Assets.

     (a) The Company will not, directly or indirectly, consolidate or merge with or into
another Person (whether or not the Company is the surviving corporation) or sell, assign,
transfer, lease, convey or otherwise dispose of all or substantially all of its properties
or assets (determined on a consolidated basis for Company and its Subsidiaries), in one or
more related transactions to another Person, unless:

     (1) either (a) the Company is the surviving entity; or (b) the Person formed by
or surviving any such consolidation or merger (if other than the Company) or to
which such sale, assignment, transfer, lease, conveyance or other disposition has
been made is a corporation, partnership or limited liability company organized or
existing under the laws of the United States, any state of the United States or the
District of Columbia;

     (2) the Person formed by or surviving any such consolidation or merger (if
other than the Company) or the Person to which such sale, assignment, transfer,
lease, conveyance or other disposition has been made assumes all the obligations of
the Company under the Notes, this Indenture, the Registration Rights Agreement and
the Security Documents, in each case pursuant to a supplemental indenture and other
agreements reasonably satisfactory to the Trustee;

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

     (4) the Company or the Person formed by or surviving any such consolidation or
merger (if other than the Company), or to which such sale, assignment, transfer,
lease, conveyance or other disposition has been made would, on the date of such
transaction after giving pro forma effect thereto and to any related financing
transactions as if the same had occurred at the beginning of the applicable
four-quarter period, either (a) be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in
Section 4.09(a) or (b) have a pro forma Fixed Charge Coverage Ratio that is
at least equal to the actual Fixed Charge Coverage Ratio for Parent as of such date;
and

     (5) the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) complies with this Indenture, that all conditions
precedent in this Indenture relating to such transaction have been satisfied and
that the supplemental indenture is enforceable;

provided, that, clause (4) of this Section 5.01(a)
will not apply to:

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     (i) a merger of the Company with an Affiliate solely for the
purpose of reincorporating the Company in another jurisdiction; or

     (ii) any consolidation or merger, or any sale, assignment,
transfer, conveyance, lease or other disposition of assets between or
among the Company and any of the Restricted Subsidiaries.

     (b) Parent will not, directly or indirectly, consolidate or merge with or into another
Person (whether or not Parent is the surviving corporation) or sell, assign, transfer,
lease, convey or otherwise dispose of all or substantially all of its properties or assets
(determined on a consolidated basis for Parent and its Subsidiaries), in one or more related
transactions to another Person, unless:

     (1) either (a) Parent is the surviving entity; or (b) the Person formed by or
surviving any such consolidation or merger (if other than Parent) or to which such
sale, assignment, transfer, lease, conveyance or other disposition has been made is
a corporation, partnership or limited liability company organized or existing under
the laws of the United States, any state of the United States or the District of
Columbia;

     (2) the Person formed by or surviving any such consolidation or merger (if
other than Parent) or the Person to which such sale, assignment, transfer, lease,
conveyance or other disposition has been made assumes all the obligations of Parent
under Parent’s Note Guarantee, this Indenture, the Registration Rights Agreement and
the Security Documents, in each case pursuant to a supplemental indenture and other
agreements reasonably satisfactory to the Trustee;

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

     (4) Parent or the Person formed by or surviving any such consolidation or
merger (if other than Parent), or to which such sale, assignment, transfer, lease,
conveyance or other disposition has been made would, on the date of such transaction
after giving pro forma effect thereto and to any related financing transactions as
if the same had occurred at the beginning of the applicable four-quarter period,
either (a) be permitted to incur at least $1.00 of additional Indebtedness pursuant
to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) or (b)
have a pro forma Fixed Charge Coverage Ratio that is at least equal to the actual
Fixed Charge Coverage Ratio for Parent as of such date; and

     (5) the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) complies with this Indenture, that all

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conditions precedent in this Indenture relating to such transaction have been
satisfied and that the supplemental indenture is enforceable;

     provided, that, clause (4) of this Section 5.01(b) will not
apply to:

     (i) a merger of Parent with an Affiliate solely for the purpose
of reincorporating Parent in another jurisdiction; or

     (ii) any consolidation or merger, or any sale, assignment,
transfer, conveyance, lease or other disposition of assets between or
among Parent and any of the Restricted Subsidiaries.

     SECTION 5.02 Successor Corporation Substituted. Upon any consolidation or merger, or
any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all
of the assets of the Company (determined on a consolidated basis for Company and its Subsidiaries)
in a transaction that is subject to, and that complies with the provisions of, Section
5.01, the successor Person (if other than the Company) will succeed to, and be substituted for,
the Company under this Indenture, the Notes, the Registration Rights Agreement and the Security
Documents, and in such event the Company will automatically be released and discharged from its
obligations under this Indenture and the Notes, the Registration Rights Agreement and the Security
Documents, but in the case of a lease of all or substantially all of its assets, the Company will
not be released from the obligations to pay the principal of and interest on the Notes or any
obligation under the Security Documents. Upon any consolidation or merger, or any sale,
assignment, transfer, lease, conveyance or other disposition of all or substantially all of the
assets of Parent in a transaction that is subject to, and that complies with the provisions of,
Section 5.01, the successor Person (if other than Parent) will succeed to, and be
substituted for, Parent under this Indenture, the Registration Rights Agreement and the Security
Documents and Parent’s applicable Note Guarantee and Parent will automatically be released and
discharged from its obligations under this Indenture, the Registration Rights Agreement, the
Security Documents and Parent’s applicable Note Guarantee, but in the case of a lease of all or
substantially all of its assets, Parent will not be released from its obligations under the Note
Guarantee, the Registration Rights Agreement and the Security Documents.

ARTICLE 6

DEFAULTS AND REMEDIES

     SECTION 6.01 Events of Default. Each of the following is an “Event of Default:”

     (1) default for 30 days in the payment when due of interest on the Notes;

     (2) default in the payment when due (at maturity, upon redemption or otherwise)
of the principal of, or premium, if any, on the Notes;

     (3) failure by Parent, the Company or any of Parent’s Restricted Subsidiaries
for five Business Days to comply with the provisions of Section 4.15 or
Section 5.01 hereof;

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     (4) failure by Parent, the Company or any of Parent’s Restricted Subsidiaries
for 60 days after notice to the Company by the Trustee or the Holders of at least
25% in aggregate principal amount of the Notes then outstanding voting as a single
class to comply with any of the other agreements in this Indenture or the Security
Documents;

     (5) default under any mortgage, indenture or instrument under which there may
be issued or by which there may be secured or evidenced any Indebtedness for money
borrowed by Parent, the Company or any of Parent’s Restricted Subsidiaries (or the
payment of which is guaranteed by Parent, the Company or any of Parent’s Restricted
Subsidiaries), whether such Indebtedness or guarantee now exists or is created after
the Issue Date, if that default:

     (A) is caused by a failure to pay any portion of the principal of such
Indebtedness when due and payable after the expiration of the grace period
provided in such Indebtedness (a “Payment Default”); or

     (B) results in the acceleration of such Indebtedness prior to its
Stated Maturity,

and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a Payment
Default or the maturity of which has been so accelerated, aggregates $30.0 million
or more;

     (6) failure by Parent, the Company or any of Parent’s Restricted Subsidiaries
to pay final and nonappealable judgments entered by a court or courts of competent
jurisdiction aggregating in excess of $30.0 million (net of any amounts which are
covered by insurance or bonded), which judgments are not paid, waived, satisfied,
discharged or stayed for a period of 60 days;

     (7) except as permitted by this Indenture, any Note Guarantee is held in any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in
full force and effect (other than in accordance with the terms of such Note
Guarantee and this Indenture or the Intercreditor Agreement), or Parent or any
Subsidiary Guarantor, or any Person acting on behalf of Parent or any Subsidiary
Guarantor, denies or disaffirms its obligations under its Note Guarantee;

     (8) Parent, the Company or any of Parent’s Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken together,
would constitute a Significant Subsidiary pursuant to or within the meaning of
Bankruptcy Law:

     (A) commences a voluntary case,

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

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

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

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

     (A) is for relief against Parent, the Company or any of Parent’s
Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of Parent that, taken together, would constitute a
Significant Subsidiary in an involuntary case;

     (B) appoints a custodian of Parent, the Company or any of Parent’s
Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of Parent that, taken together, would constitute a
Significant Subsidiary or for all or substantially all of the property of
Parent, the Company or any of Parent’s Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of Parent
that, taken together, would constitute a Significant Subsidiary; or

     (C) orders the liquidation of Parent, the Company or any of Parent’s
Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of Parent that, taken together, would constitute a
Significant Subsidiary;

and the order or decree remains unstayed and in effect for 60 consecutive days; and

     (10) unless all the Collateral has been released from the applicable Liens in
accordance with the provisions of the Security Documents or the Intercreditor
Agreement, as applicable, default by Parent, the Company or any Subsidiary Guarantor
of Parent in the performance of the Security Documents, or the occurrence of any
other event, in each case that adversely affects the enforceability, validity,
perfection or priority of such Liens on a material portion of the Collateral granted
to the Collateral Agent for the benefit of the Trustee and the Holders, the
repudiation or disaffirmation by Parent, the Company or any Subsidiary Guarantor of
Parent of its material obligations under the Security Documents or the determination
in a judicial proceeding that the Security Documents are unenforceable or invalid
against Parent, the Company or any Subsidiary Guarantor of Parent party thereto for
any reason with respect to a material portion of the Collateral (which default,
occurrence, repudiation, disaffirmation or determination is not rescinded, stayed or
waived by the Persons having such authority pursuant to the Security Documents or
otherwise cured within 60 days after the Company receives notice thereof specifying
such occurrence from the Trustee or the Holders of at least 25% of the outstanding

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principal amount of the Notes and demanding that such default, occurrence,
repudiation, disaffirmation or determination be remedied).

     SECTION 6.02 Acceleration. In the case of an Event of Default specified in
clause (8) or (9) of Section 6.01, the principal or, premium, if any, and
accrued interest on all of the Notes then outstanding shall automatically become due and payable
immediately without any further declaration or other act on the part of the Trustee or any Holder.
If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25%
in aggregate principal amount of the Notes then outstanding, by written notice to the Company (and
the Trustee if such notice is given by the Holders), may, and the Trustee at the request of such
Holders shall, declare the principal of, premium, if any, and accrued interest on the Notes to be
immediately due and payable immediately.

     SECTION 6.03 Other Remedies. If an Event of Default occurs and is continuing, the
Trustee may pursue any available remedy to collect the payment of principal, premium and interest
on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

     SECTION 6.04 Waiver of Past Defaults. The Holders of at least a majority in
principal amount of the outstanding Notes by written notice to the Company and to the Trustee, may
waive all past defaults and rescind and annul a declaration of acceleration and its consequences if
(x) all existing Events of Default, other than the nonpayment of the principal of, premium, if any,
and accrued interest on the Notes that have become due solely by such declaration of acceleration,
have been cured or waived and (y) the rescission would not conflict with any judgment or decree of
a court of competent jurisdiction. Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

     SECTION 6.05 Control by Majority. The Holders of at least a majority in aggregate
principal amount of the outstanding Notes may direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee or exercising any trust or power conferred on
the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or
this Indenture, that may involve the Trustee in personal liability or expense that is not
adequately indemnified in the judgment of the Trustee, or that the Trustee determines in good faith
may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such
direction and may take any other action it deems proper that is not inconsistent with any such
direction received from Holders of Notes.

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     SECTION 6.06 Limitation on Suits. Except to enforce the right to receive payment of
principal, premium, if any, or interest when due, no Holder may pursue any remedy with respect to
this Indenture or the Notes unless:

     (1) such Holder has previously given the Trustee notice that an Event of
Default is continuing;

     (2) Holders of at least 25% in aggregate principal amount of the then
outstanding Notes have requested the Trustee to pursue the remedy;

     (3) such Holders have offered the Trustee security or indemnity satisfactory to
it against any loss, liability or expense;

     (4) the Trustee has not complied with such request within 60 days after the
receipt thereof and the offer of security or indemnity; and

     (5) Holders of a majority in aggregate principal amount of the then outstanding
Notes have not given the Trustee a direction inconsistent with such request within
such 60-day period.

     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.

     SECTION 6.07 Rights of Holders of Notes to Receive Payment. Notwithstanding any
other provision of this Indenture, the right of any Holder of a Note to receive payment of
principal, premium, if any, and interest on the Note, on or after the respective due dates
expressed in the Note (including in connection with an offer to purchase), or to bring suit for the
enforcement of any such payment on or after such respective dates, shall not be impaired or
affected without the consent of such Holder.

     SECTION 6.08 Collection Suit by Trustee. If an Event of Default specified in
Section 6.01(1) or (2) occurs and is continuing, the Trustee is authorized to
recover judgment in its own name and as Trustee of an express trust against the Company for the
whole amount of principal of, premium and interest remaining unpaid on the Notes and interest on
overdue principal and, to the extent lawful, interest and such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

     SECTION 6.09 Trustee May File Proofs of Claim. The Trustee is authorized to file
such proofs of claim and other papers or documents as may be necessary or advisable in order to
have the claims of the Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any
judicial proceedings relative to the Company (or any other obligor upon the Notes), its creditors
or its property and shall be entitled and empowered to collect, receive and distribute any money or
other property payable or deliverable on any such claims and any custodian in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay
to the Trustee any amount due to it for the reasonable compensation,

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expenses, disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any
such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and
any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such
proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and
shall be paid out of, any and all distributions, dividends, money, securities and other properties
that the Holders may be entitled to receive in such proceeding whether in liquidation or under any
plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of
any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

     SECTION 6.10 Priorities. If the Trustee collects any money pursuant to this Article
6, it shall pay out the money in the following order:

     First: to the Trustee, its agents and attorneys for amounts due under
Section 7.07 hereof, including payment of all compensation, reasonable expenses and
liabilities incurred, and all advances made, by the Trustee and the costs and expenses of
collection;

     Second: to Holders for amounts due and unpaid on the Notes for principal,
premium and interest, ratably, without preference or priority of any kind, according to the
amounts due and payable on the Notes for principal, premium and interest, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction
shall direct.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10.

     SECTION 6.11 Undertaking for Costs. In any suit for the enforcement of any right or
remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by
it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
the suit, having due regard to the merits and good faith of the claims or defenses made by the
party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a
Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in
principal amount of the then outstanding Notes.

ARTICLE 7

TRUSTEE

     SECTION 7.01 Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee will exercise
such of the rights and powers vested in it by this Indenture, and use the same

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degree of care and skill in its exercise, as a prudent person would exercise or use
under the circumstances in the conduct of such person’s own affairs.

     (b) Except during the continuance of an Event of Default:

     (1) the duties of the Trustee will be determined solely by the express
provisions of this Indenture and the Trustee need perform only those duties that are
specifically set forth in this Indenture and no others, and no implied covenants or
obligations shall be read into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming to
the requirements of this Indenture. However, in the case of certificates
specifically required by any provision herein to be furnished to it, the Trustee
will examine the certificates and opinions to determine whether or not they conform
to the requirements of this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this
Section 7.01;

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

     (3) the Trustee will not be liable with respect to any action it takes or omits
to take in good faith in accordance with a direction received by it pursuant to
Section 6.05 hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture
that in any way relates to the Trustee is subject to paragraphs (a), (b),
and (c) of this Section 7.01.

     (e) No provision of this Indenture will require the Trustee to expend or risk its own
funds or incur any loss, liability or expense. The Trustee will be under no obligation to
exercise any of its rights and powers under this Indenture at the request of any Holders,
unless such Holder has offered to the Trustee security and indemnity satisfactory to it
against any loss, liability or expense.

     (f) The Trustee will not be liable for interest on any money received by it except as
the Trustee may agree in writing with the Company. Money held in trust by the Trustee need
not be segregated from other funds except to the extent required by law.

     SECTION 7.02 Rights of Trustee.

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     (a) The Trustee may conclusively rely upon any document (whether in original or
facsimile form) believed by it to be genuine and to have been signed or presented by the
proper Person. The Trustee need not investigate any fact or matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action
it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel. The Trustee may consult with counsel and the written advice of such counsel or
any Opinion of Counsel will be full and complete authorization and protection from liability
in respect of any action taken, suffered or omitted by it hereunder in good faith and in
reliance thereon.

     (c) The Trustee may act through its attorneys and agents and will not be responsible
for the misconduct or negligence of any agent appointed with due care.

     (d) The Trustee will not be liable for any action it takes or omits to take in good
faith that it believes to be authorized or within the rights or powers conferred upon it by
this Indenture.

     (e) Unless otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Company will be sufficient if signed by an Officer of the
Company.

     (f) The Trustee will be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders unless such
Holders have offered to the Trustee reasonable security or indemnity satisfactory to it
against the costs, expenses and liabilities that might be incurred by it in compliance with
such request or direction.

     (g) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of
profit) irrespective of whether the Trustee has been advised of the likelihood of such loss
or damage and regardless of the form of action.

     (h) The Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written
notice of any event which is in fact such a default is received by the Trustee at the
Corporate Trust Office of the Trustee, and such notice references the Notes and this
Indenture.

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

     (j) The Trustee may request that the Company deliver an Officers’ Certificate setting
forth the names of individuals and/or titles of officers authorized at such time to

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take specified actions pursuant to this Indenture, which Officers’ Certificate may be
signed by any person authorized to sign an Officers’ Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded.

     (k) The permissive rights of the Trustee to do certain things enumerated in this
Indenture shall not be construed as a duty and the Trustee shall not be answerable for other
than its negligence or willful default with respect to such permissive rights.

     (l) The Trustee shall not be bound to make any inquiry or investigation into the facts
or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, note or other paper or document unless
requested in writing so to do by the holders of a majority in aggregate principal amount of
the Notes then outstanding; provided, however, that if the payment within a
reasonable time to the Trustee of the costs and expenses or liabilities likely to be
incurred by it in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security conferred upon it by the terms of this
Indenture, the Trustee may require reasonable indemnity against such costs, expenses or
liabilities as a condition to so proceeding; and the reasonable expense of such
investigation shall be paid by the Company, or, if paid by the Trustee shall be repaid by
the Company upon demand.

     (m) The Trustee shall not be required to give any note, bond, or surety in respect of
the execution of the trusts and powers under this Indenture.

     (n) In the event the Company is required to pay Additional Interest, the Company will
provide written notice to the Trustee of the Company’s obligation to pay Additional Interest
no later than 15 days prior to the proposed payment date for the Additional Interest, which
notice shall set forth the amount of the Additional Interest to be paid by the Company on
such payment date. The Trustee shall not at any time be under any duty or responsibility to
any Holders to determine whether the Additional Interest is payable and the amount thereof.

     (o) The Trustee shall not be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused, directly or
indirectly, by circumstances beyond its reasonable control, including without limitation,
acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances;
sabotage; epidemics; riots; interruptions; loss or malfunction of utilities, computer
(hardware or software) or communication services; accidents; labor disputes; acts of civil
or military authorities and governmental action.

     SECTION 7.03 Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or
any Affiliate of the Company with the same rights it would have if it were not Trustee. However,
in the event that the Trustee acquires any conflicting interest it must eliminate such conflict
within 90 days, apply to the SEC for permission to continue as trustee (if this Indenture has been
qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The
Trustee is also subject to Sections 7.10 and 7.11 hereof.

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     SECTION 7.04 Trustee’s Disclaimer. The Trustee will not be responsible for and
makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Company’s use of the proceeds from the Notes or any money paid to the
Company or upon the Company’s direction under any provision of this Indenture, it will not be
responsible for the use or application of any money received by any Paying Agent other than the
Trustee, and it will not be responsible for any statement or recital herein or any statement in the
Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture
other than its certificate of authentication.

     SECTION 7.05 Notice of Defaults. If a Default or Event of Default occurs and is
continuing and if it is known to the Trustee, the Trustee will mail to Holders a notice of the
Default or Event of Default within 90 days after it occurs. Except in the case of a Default or
Event of Default in payment of principal of, premium, or interest on, any Note, the Trustee may
withhold the notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of the Holders.

     SECTION 7.06 Reports by Trustee to Holders of the Notes.

     (a) Within 60 days after each May 15 beginning with the May 15 following the date of
this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the
Holders of the Notes a brief report dated as of such reporting date that complies with TIA §
313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months
preceding the reporting date, no report need be transmitted). The Trustee also will comply
with TIA § 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA
§ 313(c).

     (b) A copy of each report at the time of its mailing to the Holders of Notes will be
mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock
exchange on which the Notes are listed in accordance with TIA § 313(d). The Company will
promptly notify the Trustee when the Notes are listed on any stock exchange.

     SECTION 7.07 Compensation and Indemnity.

     (a) The Company will pay to the Trustee from time to time compensation for its
acceptance of this Indenture and services hereunder. The Trustee’s compensation will not be
limited by any law on compensation of a trustee of an express trust. The Company will
reimburse the Trustee promptly upon request for all reasonable disbursements, advances and
expenses incurred or made by it in addition to the compensation for its services. Such
expenses will include the reasonable compensation, disbursements and expenses of the
Trustee’s agents and counsel.

     (b) Parent, the Company and the Subsidiary Guarantors, jointly and severally, will
indemnify the Trustee against any and all losses, liabilities or expenses incurred by it
arising out of or in connection with the acceptance or administration of its duties under
this Indenture, including the costs and expenses of enforcing this Indenture against Parent,
Company and the Subsidiary Guarantors (including this Section 7.07) and

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defending itself against any claim (whether asserted by Parent, Company, the Subsidiary
Guarantors, any Holder or any other Person) or liability in connection with the exercise or
performance of any of its powers or duties hereunder, except to the extent any such loss,
liability, claim, damage or expense as shall be determined to have been caused by its
negligence or bad faith. The Trustee will notify the Company promptly of any claim for
which it may seek indemnity. Failure by the Trustee to so notify the Company will not
relieve Parent, the Company or any of the Subsidiary Guarantors of their obligations
hereunder. Parent, Company or such Subsidiary Guarantor will defend the claim and the
Trustee will cooperate in the defense. The Trustee may have separate counsel and the
Company will pay the reasonable fees and expenses of such counsel. None of Parent, the
Company or any Subsidiary Guarantor need pay for any settlement made without its consent,
which consent will not be unreasonably withheld.

     (c) The obligations of Parent, Company and the Subsidiary Guarantors under this
Section 7.07 will survive the satisfaction and discharge of this Indenture.

     (d) To secure Parent’s, the Company’s and the Subsidiary Guarantors’ payment
obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on
all money or property held or collected by the Trustee, except that held in trust to pay
principal and interest on particular Notes. Such Lien will survive the satisfaction and
discharge of this Indenture.

     (e) When the Trustee incurs expenses or renders services after an Event of Default
specified in Section 6.01(8) or (9) hereof occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents and counsel)
are intended to constitute expenses of administration under any Bankruptcy Law.

     (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent
applicable.

     SECTION 7.08 Replacement of Trustee.

     (a) A resignation or removal of the Trustee and appointment of a successor Trustee will
become effective only upon the successor Trustee’s acceptance of appointment as provided in
this Section 7.08.

     (b) The Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company. The Holders of a majority in principal amount
of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Company in writing. The Company may remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10 hereof;

     (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief
is entered with respect to the Trustee under any Bankruptcy Law,

     (3) a custodian or public officer takes charge of the Trustee or its property;
or

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     (4) the Trustee becomes incapable of acting.

     (c) If the Trustee resigns or is removed or if a vacancy exists in the office of
Trustee for any reason, the Company will promptly appoint a successor Trustee. Within one
year after the successor Trustee takes office, the Holders of a majority in principal amount
of the then outstanding Notes may appoint a successor Trustee to replace the successor
Trustee appointed by the Company.

     (d) If a successor Trustee does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company, or the Holders of at least
10% in principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee.

     (e) If the Trustee, after written request by any Holder who has been a Holder for at
least six months, fails to comply with Section 7.10 hereof, such Holder may petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee.

     (f) A successor Trustee will deliver a written acceptance of its appointment to the
retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring
Trustee will become effective, and the successor Trustee will have all the rights, powers
and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of
its succession to Holders. The retiring Trustee will promptly transfer all property held by
it as Trustee to the successor Trustee, provided all sums owing to the Trustee
hereunder have been paid and subject to the Lien provided for in Section 7.07
hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08,
the Company’s obligations under Section 7.07 hereof will continue for the benefit of
the retiring Trustee.

     SECTION 7.09 Successor Trustee by Merger, etc. If the Trustee consolidates, merges
or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act will be the successor Trustee.

     SECTION 7.10 Eligibility; Disqualification. There will at all times be a Trustee
hereunder that is a corporation organized and doing business under the laws of the United States of
America or of any state thereof that is authorized under such laws to exercise corporate trustee
power, that is subject to supervision or examination by federal or state authorities and that has a
combined capital and surplus of at least $100.0 million as set forth in its most recent published
annual report of condition.

     This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

     SECTION 7.11 Preferential Collection of Claims Against Company. The Trustee is
subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who
has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

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ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

     SECTION 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. The Company
may, any time, at the option of its Board of Directors evidenced by a resolution set forth in an
Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied
to all outstanding Notes and the Note Guarantees upon compliance with the conditions set forth
below in this Article 8.

     SECTION 8.02 Legal Defeasance and Discharge. Upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.02, Parent, the
Company and each of the Subsidiary Guarantors will, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations
with respect to all outstanding Notes (including the Note Guarantees) on the date the conditions
set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal
Defeasance means that Parent, the Company and the Subsidiary Guarantors will be deemed to have paid
and discharged the entire Indebtedness represented by the outstanding Notes (including the Note
Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of
Section 8.05 hereof and the other Sections of this Indenture referred to in clauses
(1) and (2) below, and to have satisfied all their other obligations under such Notes,
the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the
Company, shall execute proper instruments acknowledging the same), except for the following
provisions which will survive until otherwise terminated or discharged hereunder:

     (1) the rights of Holders of outstanding Notes 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 in Section 8.04 hereof;

     (2) the Company’s obligations with respect to such Notes under Article
2 and Section 4.02 hereof;

     (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder
and Parent’s the Company’s and the Subsidiary Guarantors’ obligations in connection
therewith; and

     (4) this Article 8.

     Subject to compliance with this Article 8, the Company may exercise its option under
this Section 8.02 notwithstanding the prior exercise of its option under Section
8.03 hereof.

     SECTION 8.03 Covenant Defeasance. Upon the Company’s exercise under Section
8.01 hereof of the option applicable to this Section 8.03, Parent, the Company and each
of the Subsidiary Guarantors will, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, be released from each of their obligations under the covenants
contained in Sections 3.09, 4.07, 4.08, 4.09, 4.10,
4.11, 4.12, 4.13, 4.15, 4.17, 4.18, 4.19,
4.20, 4.21, 4.22 and 4.23 hereof with respect to the outstanding
Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act

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of Holders (and the consequences of any thereof) in connection with such covenants, but will
continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such
Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes and Note Guarantees, Parent, the
Company and the Subsidiary Guarantors may omit to comply with and will have no liability in respect
of any term, condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in any such covenant to any other provision herein or in any other document and such
omission to comply will not constitute a Default or an Event of Default under Section 6.01
hereof, but, except as specified above, the remainder of this Indenture and such Notes and Note
Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section
8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(5)
and 6.01(6) hereof will not constitute Events of Default.

     SECTION 8.04 Conditions to Legal or Covenant Defeasance. In order to exercise either
Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:

     (1) the Company must irrevocably deposit with the Trustee, in trust, 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-callable Government Securities, in
amounts as will be sufficient, in the opinion of a nationally recognized investment
bank, appraisal firm or firm of independent public accountants, to pay the principal
of, or interest and premium, if any, on, the outstanding Notes on the stated date
for payment thereof or on the applicable redemption date, as the case may be, and
the Company must specify whether the Notes are being defeased to such stated date
for payment or to a particular redemption date; provided that, upon any
redemption that requires the payment of the Applicable Premium, the amount deposited
shall be sufficient for the purposes of this Indenture to the extent that an amount
is deposited with the Trustee equal to the Applicable Premium calculated as of the
date of the notice of redemption, with any deficit on the date of redemption (any
such amount, the “Applicable Premium Deficit”) only required to be deposited
with the Trustee on or prior to the date of redemption. Any Applicable Premium
Deficit shall be set forth in an Officers’ Certificate delivered to the Trustee
simultaneously with the deposit of such Applicable Premium Deficit that confirms
that such Applicable Premium Deficit shall be applied toward such redemption;

     (2) in the case of an election under Section 8.02 hereof, the Company
must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the
Trustee (subject to customary exceptions and exclusions) confirming that:

     (A) Parent and the Company have received from, or there has been
published by, the Internal Revenue Service a ruling; or

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

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in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the 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 an election under Section 8.03 hereof, the Company
must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the
Trustee (subject to customary exceptions and exclusions) confirming that the Holders
of the 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 shall have occurred and be continuing on the
date of such deposit (other than a Default or Event of Default resulting from, or
arising in connection with, the borrowing of funds to be applied to such deposit and
the grant of any Lien securing such borrowing);

     (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 this Indenture) to which Parent, the Company or any of their respective
Subsidiaries is a party or by which Parent, the Company or any of their respective
Subsidiaries is bound, including the Credit Agreement;

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

     (7) Parent and the Company must deliver to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent provided for
or relating to the Legal Defeasance or the Covenant Defeasance have been complied
with.

     SECTION 8.05 Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 8.06 hereof, all money and non-callable
Government Securities (including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”)
pursuant to Section 8.04 hereof in respect of the outstanding Notes will be held in trust
and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to
the payment, either directly or through any Paying Agent (including the Company acting as Paying
Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due

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thereon in respect of principal, premium, if any, and interest, but such money need not be
segregated from other funds except to the extent required by law.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or non-callable Government Securities deposited pursuant to
Section 8.04 hereof or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders of the outstanding
Notes.

     Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver
or pay to the Company from time to time upon the request of the Company any money or non-callable
Government Securities held by it as provided in Section 8.04 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under
Section 8.04(1) hereof), are in excess of the amount thereof that would then be required to
be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

     SECTION 8.06 Repayment to the Company. Any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust pursuant to Section 8.04 or Section
12.01  for the payment of the principal of, premium, if any, or interest on any Note and
remaining unclaimed for two years after such principal, premium, if any, or interest has become due
and payable shall be paid to the Company on its request or (if then held by the Company) will be
discharged from such trust; and the Holder of such Note will thereafter be permitted to look only
to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee thereof, will thereupon
cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once,
in The New York Times and The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which will not be less than 30 days
from the date of such notification or publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

     SECTION 8.07 Reinstatement. If the Trustee or Paying Agent is unable to apply any
United States dollars or non-callable Government Securities in accordance with Section 8.02
or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then
Parent’s, the Company’s and the Subsidiary Guarantors’ obligations under this Indenture and the
Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred
pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying
Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03
hereof, as the case may be; provided, however, that, if the Company makes any
payment of principal of, premium, if any, or interest on any Note following the reinstatement of
its obligations, the Company will be subrogated to the rights of the Holders of such Notes to
receive such payment from the money held by the Trustee or Paying Agent.

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ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

     SECTION 9.01 Without Consent of Holders of Notes. Notwithstanding Section
9.02 of this Indenture, without the consent of any Holder of Notes, Parent, the Company, the
Subsidiary Guarantors, the Collateral Agent and the Trustee may amend or supplement this Indenture,
the Notes, the Note Guarantees, the Security Documents and the Intercreditor Agreement:

     (1) to cure any ambiguity, omission, 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 Parent’s, the Company’s or a Subsidiary
Guarantor’s obligations to the Holders of Notes and Note Guarantees in the case of a
merger or consolidation or sale of all or substantially all of Parent’s, the
Company’s or such Subsidiary Guarantor’s assets, as applicable;

     (4) to make any change that would provide any additional rights or benefits to
the Holders or that does not adversely affect the legal rights hereunder of any such
Holder;

     (5) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA;

     (6) to conform the text of this Indenture, the Note Guarantees or the Notes to
any provision of the “Description of Notes” section of the Offering Memorandum to
the extent that such provision in that “Description of Notes” was intended to be a
verbatim recitation of a provision of this Indenture, the Note Guarantees or the
Notes;

     (7) to provide for the issuance of Additional Notes in accordance with the
limitations set forth in this Indenture;

     (8) to allow any Subsidiary Guarantor to execute a supplemental indenture
and/or a Note Guarantee with respect to the Notes and to release Subsidiary
Guarantors from the Note Guarantee in accordance with the terms of this Indenture or
the Intercreditor Agreement, as applicable, as of the date of this Indenture;

     (9) to make, complete or confirm any grant of Collateral permitted or required
by this Indenture, the Intercreditor Agreement or any of the Security Documents or
any release of Collateral that becomes effective as set forth in this Indenture, the
Intercreditor Agreement or any of the Security Documents; or

     (10) to provide for the issuance of exchange securities which shall have terms
substantially identical in all respects to the Notes (except that the transfer
restrictions contained in the Notes shall be modified or eliminated as appropriate)

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and which shall be treated, together with any outstanding Notes, as a single
class of securities.

     After an amendment becomes effective, the Company is required to mail to each registered
Holder of the Notes a notice briefly describing such amendment. However, the failure to give such
notice to all Holders of the Notes, or any defect therein, will not impair or affect the validity
of the amendment.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture permitted by the terms of
this Indenture, and upon receipt by the Trustee of the documents described in Section 13.04
hereof, the Trustee will join with Parent, the Company and the Subsidiary Guarantors in the
execution of any such amended or supplemental indenture, but the Trustee will not be obligated to
enter into such amended or supplemental indenture that affects its own rights, duties or immunities
under this Indenture or otherwise.

     SECTION 9.02 With Consent of Holders of Notes. Except as provided below in this
Section 9.02, Parent, the Company, the Subsidiary Guarantors, the Collateral Agent and the
Trustee may amend or supplement this Indenture, the Note Guarantees, the Notes, the Security
Documents and the Intercreditor Agreement with the consent of the Holders of at least a majority in
aggregate principal amount of the Notes (including, without limitation, Additional Notes, if any)
then outstanding voting as a single class (including, without limitation, consents obtained in
connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to
Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other than
a Default or Event of Default in the payment of the principal of, premium, if any, or interest on
the Notes, except a payment default resulting from an acceleration that has been rescinded) or
compliance with any provision of this Indenture, the Note Guarantees, the Notes and the Security
Documents may be waived with the consent of the Holders of a majority in aggregate principal amount
of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a
single class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes). Section 2.08 hereof shall determine which
Notes are considered to be “outstanding” for purposes of this Section 9.02.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section 13.04
hereof, the Trustee will join with Parent, the Company and the Subsidiary Guarantors in the
execution of such amended or supplemental indenture unless such amended or supplemental indenture
directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion, but will not be obligated to, enter into such
amended or supplemental Indenture.

     It is not necessary for the consent of the Holders of Notes under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient
if such consent approves the substance thereof.

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     After an amendment, supplement or waiver under this Section 9.02 becomes effective,
the Company will mail to the Holders of Notes affected thereby a notice briefly describing the
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver. However, without the consent of each Holder affected, an amendment,
supplement or waiver under this Section 9.02 may not (with respect to any Notes held by a
non-consenting Holder):

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

     (2) reduce the principal of or extend the fixed maturity of any Note or alter
the provisions with respect to the redemption of the Notes (other than the
provisions of Sections 3.09, 4.10 or 4.15 hereof);

     (3) reduce the rate of or extend the time for payment of interest, including
default 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
then outstanding Notes and a waiver of the payment default that resulted from such
acceleration);

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

     (6) make any change in the provisions of this Indenture relating to waivers of
past Defaults or impair the rights of Holders of Notes to receive payments of
principal of, or interest or premium, if any, on, the Notes;

     (7) waive a redemption payment with respect to any Note (other than a payment
required by Sections 3.09, 4.10 or 4.15 hereof);

     (8) release Parent or any Subsidiary Guarantor from any of its obligations
under its Note Guarantee or this Indenture, except as otherwise specifically
provided in this Indenture, the Intercreditor Agreement or in the Security
Documents;

     (9) impair the right to institute suit for the enforcement of any payment on or
with respect to the Notes or any Note Guarantees;

     (10) make any change in the provisions in the Intercreditor Agreement or this
Indenture dealing with the application of proceeds of Collateral that would
materially adversely affect the Holders of the Notes; or

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

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     Any amendment to, or waiver of, the provisions of this Indenture or any Security Document that
has the effect of releasing all or substantially all of the Collateral from the Liens securing the
Notes will require the consent of the Holders of at least 66 2/3% in aggregate principal amount of
the then outstanding Notes. Any other amendment to, or waiver of, the provisions of any Security
Document (including, except to the extent covered in the immediately preceding sentence, with
respect to the release of Collateral) will be deemed to have been agreed to by the aggregate
principal amount of the Notes then outstanding if consented to by holders of at least a majority in
aggregate principal amount of the Notes then outstanding or to the extent specifically provided in
the Intercreditor Agreement or any Security Document.

     SECTION 9.03 Compliance. Every amendment or supplement to this Indenture or the
Notes will be set forth in an amended or supplemental indenture that complies with this Indenture.

     SECTION 9.04 Revocation and Effect of Consents. Until an amendment, supplement or
waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the
Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same
debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note.
However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its
Note if the Trustee receives written notice of revocation before the date the waiver, supplement or
amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance
with its terms and thereafter binds every Holder.

     For purposes of this Indenture, the consent of the Holder of a Global Security shall be deemed
to include any consent delivered by any member of, or participant in, any Depositary or DTC, any
nominees thereof and their respective successors and assigns, or such other depository institution
hereinafter appointed by the Company (“Depositary Entity”) by electronic means in
accordance with the Automated Tender Offer Procedures system or other customary procedures of, and
pursuant to authorization by, such Depositary Entity.

     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action required or
permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding
the first paragraph of this Section 9.04, those Persons who were Holders at such record
date (or their duly designated proxies), and only those Persons, shall be entitled to give such
consent or to revoke any consent previously given or to take any such action, whether or not such
Persons continue to be Holders after such record date. No such consent shall become valid or
effective more than 120 days after such record date.

     Any Holder entitled hereunder to give, make or take any action under this Indenture with
regard to any particular Note may do so, or duly appoint any Person or Persons as its agent or
agents to do so, with regard to all or any part of the principal amount of such Note.

     SECTION 9.05 Notation on or Exchange of Notes. The Trustee may place an appropriate
notation about an amendment, supplement or waiver on any Note thereafter authenticated. The
Company in exchange for all Notes may issue and the Trustee shall, upon

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receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

     Any consent of any Holder of Notes may include, without limitation, any consent obtained in
connection with a tender offer or exchange offer for, or purchase of, Notes.

     Failure to make the appropriate notation or issue a new Note will not affect the validity and
effect of such amendment, supplement or waiver.

     SECTION 9.06 Trustee to Sign Amendments, etc. The Trustee will sign any amended or
supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The
Company may not sign an amended or supplemental indenture until its Board of Directors approves it.
On the Issue Date, the Trustee is hereby directed to execute and deliver a supplemental indenture
of the type referred to in the clause (2) of Section 5.01(a) pursuant to which the
Company, as the surviving entity of the Merger, will assume all the obligations of Merger Sub under
this Indenture and will succeed to, and be substitute for, and may exercise every right and power
of, Merger Sub under this Indenture. Except with respect to the supplemental indenture referred to
in the immediately prior sentence, in executing any amended or supplemental indenture, the Trustee
will be provided with and (subject to Section 7.01 hereof) will be fully protected in
relying upon, in addition to the documents required by Section 13.04 hereof, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental
indenture is authorized or permitted by this Indenture.

ARTICLE 10

COLLATERAL

     SECTION 10.01 Security Documents. (a) Subject to the provisions of the
Intercreditor Agreement, the payment of the principal of and interest and premium, if any, on the
Notes when due, whether on an interest payment date, at maturity, by acceleration, repurchase,
redemption or otherwise and whether by the Company pursuant to the Notes or by Parent or any
Subsidiary Guarantor pursuant to the Note Guarantees, the payment of all other Obligations and the
performance of all other obligations of Parent, the Company and the Subsidiary Guarantors under
this Indenture, the Registration Rights Agreement, the Notes, the Note Guarantees and the Security
Documents are secured as provided in the Security Documents which Parent, the Company and the
Subsidiary Guarantors have entered into simultaneously with the execution of this Indenture and
will be secured by Security Documents hereafter delivered as required or permitted by this
Indenture. Subject to the provisions of the Intercreditor Agreement, Parent and the Company shall,
and shall cause each of the Subsidiary Guarantors to, and each Subsidiary Guarantor shall, do all
filings (including filings of continuation statements and amendments to UCC financing statements
that may be necessary to continue the effectiveness of such UCC financing statements) and all other
actions as are necessary or required by the Security Documents to maintain (at the sole cost and
expense of Parent, the Company and the Subsidiary Guarantors) the security interest created by the
Security Documents in the Collateral (other than with respect to any Collateral the security
interest in which is not required to be perfected under the Security Documents) as a perfected
second priority security interest subject only to Permitted Liens.

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     (b) The Equity Interests or intercompany note of a Subsidiary will constitute
Collateral only to the extent that such Equity Interests or intercompany note can secure the
Notes without Rule 3-16 of Regulation S-X under the Securities Act (or any other law, rule
or regulation) requiring separate financial statements of such Subsidiary to be filed with
the SEC. In the event that Rule 3-16 of Regulation S-X under the Securities Act requires or
is amended, modified or interpreted by the SEC to require (or is replaced with another rule
or regulation, or any other law, rule or regulation is adopted, that would require) the
filing with the SEC of separate financial statements of any Subsidiary due to the fact that
such Subsidiary’s Equity Interests or intercompany note secures the Notes, then the Equity
Interests or intercompany note of such Subsidiary shall automatically be deemed not to be
part of the Collateral. In such event, the Security Documents may be amended or modified,
without the consent of any Holder, to the extent necessary to release the Liens on the
Equity Interests or intercompany note that is so deemed to no longer constitute part of the
Collateral.

     (c) In the event that Rule 3-16 of Regulation S-X under the Securities Act is amended,
modified or interpreted by the SEC to permit (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, which would permit) such
Subsidiary’s Equity Interests or intercompany note to secure the Notes without the filing
with the SEC of separate financial statements of such Subsidiary, then the Equity Interests
or intercompany note of such Subsidiary shall automatically be deemed to be a part of the
Collateral. In such event, the Security Documents may be amended or modified, without the
consent of any Holder, to the extent necessary to subject such Equity Interests or
intercompany note to the Liens under the Security Documents.

     SECTION 10.02 Collateral Agent.

     (a) Each Holder of Notes, by its acceptance thereof, has appointed U.S. Bank National
Association to serve as the Collateral Agent for the benefit of the Holders of Notes and
U.S. Bank National Association hereby accepts such appointment. The Collateral Agent
(directly or through co-trustees, agents or sub-agents) will act as Collateral Agent
pursuant to the Intercreditor Agreement and the Security Documents and will hold, and will
be entitled to enforce, all Liens on the Collateral created by the Security Documents. The
use of the term “agent” herein with reference to the Collateral Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency
doctrine of any applicable law other than as a “representative” as such term is used in
Section 9-102(A)(72)(E) of the Uniform Commercial Code. Instead, such term is used merely
as a matter of market custom, and is intended to create or reflect only an administrative
relationship between independent contracting parties.

     (b) The Collateral Agent is authorized and empowered to appoint one or more
co-trustees, agents or sub-agents as it deems necessary or appropriate.

     (c) Subject to Section 7.01, neither the Trustee nor the Collateral Agent nor
any of their respective officers, directors, employees, attorneys or agents will be
responsible or liable for the existence, genuineness, value or protection of any Collateral,
for the legality, enforceability, effectiveness or sufficiency of the Security Documents,

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for the creation, perfection, priority, sufficiency or protection of any second
priority Lien, or for any defect or deficiency as to any such matters, or for any failure to
demand, collect, foreclose or realize upon or otherwise enforce any of the second priority
Liens or Security Documents or any delay in doing so.

     (d) Subject to the Intercreditor Agreement, the Collateral Agent will be subject to
such directions as may be given it by the Trustee from time to time (as required or
permitted by this Indenture). Except as directed by the Trustee as required or permitted by
this Indenture and the Intercreditor Agreement, the Collateral Agent will not be obligated:

     (1) to act upon directions purported to be delivered to it by any other Person;

     (2) to foreclose upon or otherwise enforce any second priority Lien; or

     (3) to take any other action whatsoever with regard to any or all of the second
priority Liens, Security Documents or Collateral.

     (e) The Collateral Agent will be accountable only for amounts that it actually receives
as a result of the enforcement of the second priority Liens or Security Documents.

     (f) In acting as Collateral Agent or co-trustee, agent or sub-agent, the Collateral
Agent and each co-trustee, agent or sub-agent may rely upon and enforce each and all of the
rights, powers, immunities, indemnities and benefits of the Trustee under Article 7
hereof.

     SECTION 10.03 Authorization of Actions to Be Taken.

     (a) Each Holder of Notes, by its acceptance thereof, consents and agrees to the terms
of each Security Document and the Intercreditor Agreement, as originally in effect and as
amended, supplemented or replaced from time to time in accordance with its terms or the
terms of this Indenture, authorizes and empowers the Trustee to direct the Collateral Agent
to execute and deliver, and the Trustee hereby directs the Collateral Agent to execute and
deliver, the Intercreditor Agreement and the other Security Documents to which it is a
party, and authorizes and empowers the Trustee and the Collateral Agent to bind the Holders
of Notes and other holders of Obligations under this Indenture, the Notes, the Note
Guarantees and the Security Documents as set forth in the Security Documents to which it is
a party and the Intercreditor Agreement and to perform its obligations and exercise its
rights and powers thereunder.

     (b) The Collateral Agent and the Trustee are authorized and empowered to receive for
the benefit of the Holders of Notes any funds collected or distributed under the
Intercreditor Agreement or the other Security Documents to which the Collateral Agent or
Trustee is a party and to make further distributions of such funds to the Holders of Notes
according to the provisions of this Indenture.

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     (c) Subject to the provisions of Sections 7.01 and 7.02 and except as
otherwise provided in the Intercreditor Agreement, the Trustee may, in its sole discretion
and without the consent of the Holders, direct, on behalf of the Holders, the Collateral
Agent to take all actions it deems necessary or appropriate in order to:

     (1) foreclose upon or otherwise enforce any or all of the second priority
Liens;

     (2) enforce any of the terms of the Security Documents to which the Collateral
Agent is a party; or

     (3) collect and receive payment of any and all Obligations under this
Indenture, the Notes, the Note Guarantees and the Security Documents.

     (d) Subject to the Intercreditor Agreement, the Trustee is authorized and empowered to
institute and maintain, or direct the Collateral Agent to institute and maintain, such suits
and proceedings as it may deem expedient to protect or enforce the second priority Liens or
the Security Documents to which the Collateral Agent is a party or to prevent any impairment
of Collateral by any acts that may be unlawful or in violation of the Security Documents to
which the Collateral Agent is a party or this Indenture, and such suits and proceedings as
the Trustee or the Collateral Agent may deem expedient to preserve or protect its interests
and the interests of the Holders of Notes in the Collateral, including power to institute
and maintain suits or proceedings to restrain the enforcement of or compliance with any
legislative or other governmental enactment, rule or order that may be unconstitutional or
otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order
would impair the security interest hereunder or be prejudicial to the interests of Holders,
the Trustee or the Collateral Agent.

     SECTION 10.04 Release of Liens.

     (a) Subject to clauses (b) and (c) of this Section 10.04,
Collateral may be released from the Lien and security interest created by the Security
Documents at any time or from time to time in accordance with the provisions of the Security
Documents, the Intercreditor Agreement or as provided hereby. Upon the request of the
Company pursuant to an Officers’ Certificate and Opinion of Counsel certifying that all
conditions precedent hereunder have been met, Parent, the Company and the Subsidiary
Guarantors will be entitled to the release of assets included in the Collateral from the
Liens securing the Notes, and the Collateral Agent and the Trustee (if the Trustee is not
then the Collateral Agent) shall release the same from such Liens at the Company’s sole cost
and expense, under any one or more of the following circumstances:

     (1) at any time the Liens on such Collateral securing the First Priority Lien
Obligations are released in whole or in part by the First Lien Agent;

     (2) to enable Parent, the Company or any Subsidiary Guarantor to consummate an
Asset Sale to the extent such Asset Sale is not prohibited under Section
4.10;

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     (3) in the case of a Subsidiary Guarantor that is released from its Note
Guarantee with respect to the Notes, the release of the property and assets of such
Subsidiary Guarantor; or

     (4) as described under Article 9.

     Upon the receipt of an Officers’ Certificate from the Company, as described above, and
any necessary or proper instruments of termination, satisfaction or release prepared by the
Company, the Trustee shall instruct the Collateral Agent to execute, deliver or acknowledge
such instruments or releases to evidence the release of any Collateral permitted to be
released pursuant to this Indenture or the Security Documents or the Intercreditor
Agreement.

     (b) Except as otherwise provided in the Intercreditor Agreement, no Collateral may be
released from the Lien and security interest created by the Security Documents unless the
Officers’ Certificate required by this Section 10.04 has been delivered to the
Collateral Agent and the Trustee not less than five days prior to the date of such release.

     (c) At any time when a Default or Event of Default has occurred and is continuing and
the maturity of the Notes has been accelerated (whether by declaration or otherwise) and the
Trustee has delivered a notice of acceleration to the Collateral Agent, no release of
Collateral pursuant to the provisions of this Indenture or the Security Documents will be
effective as against the Holders, except as otherwise provided in the Intercreditor
Agreement.

     SECTION 10.05 Filing, Recording and Opinions.

     (a) In the event that this Indenture shall be required to be qualified, and shall be so
qualified, pursuant to the TIA, the Company will comply with the provisions of TIA §314(b)
and 314(d), except to the extent not required as set forth in any SEC regulation or
interpretation (including any no-action letter issued by the Staff of the SEC, whether
issued to the Company or any other Person). Following such qualification, if any, to the
extent the Company is required to furnish to the Trustee an Opinion of Counsel pursuant to
TIA §314(b)(2), the Company will furnish such opinion not more than 60 but not less than 30
days prior to each May 31.

     Any release of Collateral permitted by Section 10.04 hereof will be deemed not
to impair the Liens under the Indenture and the Security Documents in contravention thereof
and, in the event that this Indenture shall be required to be qualified, and shall be so
qualified, pursuant to the TIA, any person that is required to deliver an Officers’
Certificate or Opinion of Counsel pursuant to Section 314(d) of the TIA, shall be entitled
to rely upon the foregoing as a basis for delivery of such certificate or opinion. The
Trustee may, to the extent permitted by Section 7.01 and 7.02 hereof, accept
as conclusive evidence of compliance with the foregoing provisions the appropriate
statements contained in such documents and Opinion of Counsel.

     (b) If any Collateral is released in accordance with this Indenture or any Security
Document and if the Company has delivered the certificates and documents

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required by the Security Documents and Section 10.04, the Trustee will
determine whether it has received all documentation required by this Indenture in connection
with such release and, based on such determination and the Opinion of Counsel delivered
pursuant to Section 10.04, will, upon request, deliver a certificate to the
Collateral Agent setting forth such determination.

     SECTION 10.06 Powers Exercisable by Receiver or Trustee. In case the Collateral
shall be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in
this Article 10 upon Parent, the Company or a Subsidiary Guarantor with respect to the
release, sale or other disposition of such property may be exercised by such receiver or trustee,
and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar
instrument of Parent, the Company or a Subsidiary Guarantor or of any officer or officers thereof
required by the provisions of this Article 10; and if the Collateral Agent or the Trustee
shall be in the possession of the Collateral under any provision of this Indenture, then such
powers may be exercised by the Collateral Agent or the Trustee.

     SECTION 10.07 Release Upon Termination of the Company’s Obligations. In the event
(i) that the Company delivers to the Trustee, in form and substance acceptable to it, an Officers’
Certificate and Opinion of Counsel certifying that all the obligations under this Indenture, the
Notes, the Registration Rights Agreement and the Security Documents have been satisfied and
discharged by the payment in full of the Company’s obligations under the Notes, this Indenture, the
Registration Rights Agreement and the Security Documents, and all such obligations have been so
satisfied, or (ii) a discharge, legal defeasance or covenant defeasance of this Indenture occurs
under Article 8 or 12, the Trustee shall deliver to the Company and the Collateral
Agent a notice stating that the Trustee, on behalf of the Holders, disclaims and gives up any and
all rights it has in or to the Collateral, and any rights it has under the Security Documents, and
upon receipt by the Collateral Agent of such notice, the Collateral Agent shall be deemed to have
released all of its Liens, and not to hold a Lien, in the Collateral on behalf of the Trustee and
shall do or cause to be done all acts reasonably necessary to evidence the release of such Lien as
soon as is reasonably practicable.

     SECTION 10.08 Designations. Except as provided in the next sentence, for purposes of
the provisions hereof and the Intercreditor Agreement requiring the Company to designate
Indebtedness for the purposes of the terms First Priority Lien Obligations or any other such
designations hereunder or under the Intercreditor Agreement, any such designation shall be
sufficient if the relevant designation provides in writing that such First Priority Lien
Obligations are permitted under this Indenture and is signed on behalf of the Company by an Officer
and delivered to the Trustee, the Collateral Agent and the First Lien Agent. For all purposes
hereof and the Intercreditor Agreement, the Company hereby designates the Obligations pursuant to
the Credit Agreement as in effect on the Issue Date as First Priority Lien Obligations.

ARTICLE 11

NOTE GUARANTEES

     SECTION 11.01 Guarantee.

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     (a) Subject to this Article 11, Parent and each of the Subsidiary Guarantors
hereby, jointly and severally, unconditionally guarantees to each Holder of a Note
authenticated and delivered by the Trustee and to the Trustee and its successors and
assigns, irrespective of the validity and enforceability of this Indenture, the Notes, the
Security Documents, the Registration Rights Agreement or the obligations of the Company
hereunder or thereunder, that:

     (1) the principal of, premium, if any, and interest on the Notes will be
promptly paid in full when due, whether at maturity, by acceleration, redemption or
otherwise, and interest on the overdue principal of and interest on the Notes, if
any, if lawful, and all other obligations of the Company to the Holders or the
Trustee hereunder or thereunder will be promptly paid in full or performed, all in
accordance with the terms hereof and thereof; and

     (2) in case of any extension of time of payment or renewal of any Notes or any
of such other obligations, that 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.

     Failing payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, Parent and each of the Subsidiary Guarantors will be jointly and
severally obligated to pay the same immediately. Parent and each Subsidiary Guarantor
agrees that this is a guarantee of payment and not a guarantee of collection.

     (b) Parent and the Subsidiary Guarantors hereby agree that their obligations hereunder
are unconditional, irrespective of the validity, regularity or enforceability of the Notes,
this Indenture, the Security Documents or the Registration Rights Agreement, the absence of
any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the
Company, any action to enforce the same or any other circumstance which might otherwise
constitute a legal or equitable discharge or defense of a guarantor. Parent and each
Subsidiary Guarantor hereby waives (to the extent it may lawfully do so) diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company,
protest, notice and all demands whatsoever and covenant that this Note Guarantee will not be
discharged except by complete performance of the obligations contained in the Notes, this
Indenture, the Security Documents and the Registration Rights Agreement.

     (c) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, Parent, the Subsidiary Guarantors or any custodian, trustee, liquidator or other
similar official acting in relation to any of Parent, the Company or the Subsidiary
Guarantors, any amount paid by either to the Trustee or such Holder, this Note Guarantee, to
the extent theretofore discharged, will be reinstated in full force and effect.

     (d) Parent and each Subsidiary Guarantor agrees that it will not be entitled to any
right of subrogation in relation to the Holders in respect of any obligations

112

 

guaranteed hereby until payment in full of all obligations guaranteed hereby. Parent
and each Subsidiary Guarantor further agrees that, as between Parent and the Subsidiary
Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the
maturity of the obligations guaranteed hereby may be accelerated as provided in Article
6 hereof for the purposes of this Note Guarantee, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the obligations guaranteed
hereby, and (2) in the event of any declaration of acceleration of such obligations as
provided in Article 6 hereof, such obligations (whether or not due and payable) will
forthwith become due and payable by Parent and the Subsidiary Guarantors for the purpose of
this Note Guarantee, in each case subject to any rescission of any such acceleration
pursuant to Section 6.04. Parent and the Subsidiary Guarantors will have the right
to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of
such right does not impair the rights of the Holders under the Note Guarantee.

     SECTION 11.02 Limitation on Guarantor Liability. Parent and each Subsidiary
Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of
all such parties that the Note Guarantee of Parent or such Subsidiary Guarantor not constitute a
fraudulent transfer or conveyance for purposes of 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 Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders,
Parent and the Subsidiary Guarantors hereby irrevocably agree that the obligations of Parent or
such Subsidiary Guarantor will be limited to the maximum amount that will, after giving effect to
such maximum amount and all other contingent and fixed liabilities of Parent or such Subsidiary
Guarantor that are relevant under such laws, and after giving effect to any collections from,
rights to receive contribution from or payments made by or on behalf of Parent or any other
Subsidiary Guarantor in respect of the obligations of Parent or such other Subsidiary Guarantor
under this Article 11, result in the obligations of Parent or such Subsidiary Guarantor
under its Note Guarantee not constituting a fraudulent transfer or conveyance.

     SECTION 11.03 Execution and Delivery of Note Guarantee.

     (a) To evidence its Note Guarantee set forth in Section 11.01, each guarantor hereby
agrees that this Indenture shall be executed on behalf of such guarantor by an Officer or person
holding an equivalent title.

     (b) Each guarantor hereby agrees that its Note Guarantee set forth in Section 11.01
shall remain in full force and effect notwithstanding the absence of the endorsement of any
notation of such Note Guarantee on the Notes.

     (c) If an Officer whose signature is on this Indenture no longer holds that office at the time
the Trustee authenticates the Note, the Note Guarantees shall be valid nevertheless.

     (d) The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the
guarantors.

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     (e) If required by Section 4.19, the Company shall cause any newly created or acquired
Restricted Subsidiary to comply with the provisions of Section 4.19 and this Article 11, to
the extent applicable.

     SECTION 11.04 Subsidiary Guarantors May Consolidate, etc., on Certain Terms. Except
as otherwise provided in this Section 11.04, the Company and Parent will not permit any
Subsidiary Guarantor to consolidate or merge with or into another Person (whether or not such
Subsidiary Guarantor is the surviving corporation) 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 another Person, unless:

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

     (2) either

     (a) (i) such Subsidiary Guarantor is the surviving entity or the Person
formed by or surviving any such consolidation or merger (if other than such
Subsidiary Guarantor) or to which such sale, assignment, transfer,
conveyance or other disposition has been made is a corporation, partnership
or limited liability company organized or existing under the laws of the
jurisdiction under which such Subsidiary Guarantor was organized or under
the laws the United States, any state of the United States or the District
of Columbia and (ii) the Person formed by or surviving any such
consolidation or merger (if other than such Subsidiary Guarantor) or the
Person to which such sale, assignment, transfer, conveyance or other
disposition has been made assumes all the obligations of such Subsidiary
Guarantor under such Subsidiary Guarantor’s Note Guarantee, this Indenture,
the Registration Rights Agreement and the Security Documents, in each case
pursuant to a supplemental indenture and other agreements reasonably
satisfactory to the Trustee; or

     (b) in the case of a Subsidiary Guarantor that has been disposed of in
its entirety to another Person (other than to the Company or any Affiliate
of the Company), whether through a merger, consolidation or sale of Capital
Stock or assets, the Company delivers an Officers’ Certificate to the
Trustee to the effect that the Company will comply with its obligations
under Section 4.10 in respect of such sale or other disposition; and

     (3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) complies with this Indenture, that all conditions
precedent in this Indenture relating to such transaction have been satisfied and
that the supplemental indenture is enforceable.

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     In case of any such consolidation, merger, sale or disposition and upon the assumption by the
successor Person, by supplemental indenture, executed and delivered to the Trustee and
substantially in the form of Exhibit E hereto, of the Note Guarantee, in a transaction that
is subject to, and that complies with the provisions of, Section 11.04, and the due and
punctual performance of all of the covenants and conditions of this Indenture to be performed by
the Subsidiary Guarantor, such successor Person will succeed to, and be substituted for, such
Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary Guarantor
under this Indenture, the Registration Rights Agreement, the Security Documents and the
Intercreditor Agreement and such Subsidiary Guarantor’s applicable Note Guarantee and such
Subsidiary Guarantor will automatically be released and discharged from its obligations under this
Indenture, the Registration Rights Agreement, the Security Documents and the Intercreditor
Agreement, and such Subsidiary Guarantor’s applicable Note Guarantee, but in the case of a lease of
all or substantially all of its assets, the Subsidiary Guarantor will not be released from its
obligations under the Note Guarantee, the Registration Rights Agreement, the Security Documents and
the Intercreditor Agreement. All the Note Guarantees so issued will in all respects have the same
legal rank and benefit under this Indenture as the Note Guarantees theretofore and thereafter
issued in accordance with the terms of this Indenture as though all of such Note Guarantees had
been issued at the date of the execution hereof.

     Except as set forth in Articles 4 and 5 hereof, and notwithstanding
clauses (a) and (b) above, nothing contained in this Indenture or in any of the
Notes will prevent any consolidation or merger of a Subsidiary Guarantor with or into Parent, the
Company or another Subsidiary Guarantor, or will prevent any sale or disposition of all or
substantially all of the assets of a Subsidiary Guarantor to Parent, the Company or another
Subsidiary Guarantor.

     SECTION 11.05 Releases.

     The Note Guarantee of a Subsidiary Guarantor will be released, and such Subsidiary Guarantor
will be released from and relieved of all of its obligations under its Note Guarantee, the
Registration Rights Agreement, the Security Documents, the Intercreditor Agreement and this
Indenture:

     (1) in connection with any sale, disposition or transfer of all or
substantially all of the assets of that Subsidiary Guarantor (including by way of
merger or consolidation) to a Person that is not (either before or after giving
effect to such transaction) Parent, the Company or a Subsidiary Guarantor, if the
sale, disposition or transfer does not violate the first paragraph of Section
4.10;

     (2) in connection with any sale, disposition or transfer of all of the Capital
Stock of that Subsidiary Guarantor to a Person that is not (either before or after
giving effect to such transaction) Parent, the Company or a Subsidiary Guarantor, if
the sale, disposition or transfer does not violate the first paragraph of
Section 4.10;

     (3) if the Company designates any Restricted Subsidiary that is a Subsidiary
Guarantor to be an Unrestricted Subsidiary in accordance with the applicable
provisions of this Indenture;

115

 

     (4) upon Legal Defeasance in accordance with Article 8 hereof or
satisfaction and discharge of this Indenture in accordance with Article 12
hereof; or

     (5) at such time as such Subsidiary Guarantor does not have any Indebtedness
outstanding that would have required such Subsidiary Guarantor to enter into a Note
Guarantee pursuant to Section 4.19.

     Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of
Counsel to the effect that a release of a Subsidiary Guarantor in accordance with this Section
11.05 is authorized or permitted by this Indenture, the Trustee will, upon the request and at
the expense of the Company, execute any documents reasonably requested by the Company in order to
evidence the release of such Subsidiary Guarantor from its obligations under its Note Guarantee,
the Registration Rights Agreement, the Security Documents, the Intercreditor Agreement and this
Indenture.

ARTICLE 12

SATISFACTION AND DISCHARGE

     SECTION 12.01 Satisfaction and Discharge. This Indenture will be discharged and will
cease to be of further effect as to all Notes issued hereunder when:

     (1) either

     (a) all Notes that have been authenticated and, except lost, stolen or
destroyed Notes that have been replaced or paid and Notes for whose payment
money has been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company, have been delivered to the
Trustee for cancellation; or

     (b) all Notes that have not been delivered to the Trustee for
cancellation have become due and payable by reason of the mailing of a
notice of redemption or otherwise or will become due and payable within one
year and Parent, the Company or any Subsidiary Guarantor 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-callable Government Securities, in amounts as will be sufficient,
without consideration of any reinvestment of interest, to pay and discharge
the entire Indebtedness (including all principal and interest) on the Notes
not delivered to the Trustee for cancellation;

     (2) Parent, the Company or any Subsidiary Guarantor has paid or caused to be
paid all other sums payable by it under this Indenture; and

     (3) the Company has delivered irrevocable instructions to the Trustee under
this Indenture to apply the deposited money toward the payment of the Notes at
maturity or the redemption date, as the case may be.

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In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.
Upon satisfaction of the conditions set forth in this Section 12.01, and the receipt of
such Officers’ Certificate and Opinion of counsel, the Trustee, upon request and at the expense of
the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture.

     Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited
with the Trustee pursuant to subclause (b) of clause (1) of this Section
12.01, the provisions of Sections 12.02 and 8.06 will survive. In addition,
nothing in this Section 12.01 will be deemed to discharge those provisions of Section
7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture.

     SECTION 12.02 Application of Trust Money. Subject to the provisions of Section
8.06 hereof, all money deposited with the Trustee pursuant to Section 12.01 hereof
shall be held in trust and applied by it, in accordance with the provisions of the Notes and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of
the principal (and premium, if any) and interest for whose payment such money has been deposited
with the Trustee; but such money need not be segregated from other funds except to the extent
required by law.

     If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 12.01 hereof 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, Parent’s, the Company’s and any Subsidiary Guarantor’s obligations
under this Indenture and the Notes shall be revived and reinstated as though no deposit had
occurred pursuant to Section 12.01 hereof; provided that if the Company has made
any payment of principal of, premium, if any, or interest on any Notes because of the reinstatement
of its obligations, the Company 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 Paying Agent.

ARTICLE 13

MISCELLANEOUS

     SECTION 13.01 Trust Indenture Act Controls. If any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by TIA § 318(c) (other than, prior to any
qualification of this Indenture under the TIA, the limitations, qualifications or conflicts set
forth in Sections 9.03, 9.06 and 10.05), the imposed duties will control.

     SECTION 13.02 Notices. Any notice or communication by Parent, the Company, any
Subsidiary Guarantor or the Trustee to the others is duly given if in writing and delivered in
Person or mailed by first class mail (registered or certified, return receipt requested), telex,
telecopier or overnight air courier guaranteeing next day delivery, to the others’ address:

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If to Parent, the Company and/or any Subsidiary Guarantor:

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, Arizona 85403

Attention: James Fry

With a copies to:

Scudder Law Firm, P.C., L.L.O.

411 South 13th St., 2nd Floor

Lincoln, NE 68508

Facsimile: (402) 435-3223

Attention: Earl Scudder

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036

Facsimile: (212) 735-2000

Attention: Richard Aftanas, Esq.

If to the Trustee:

U.S. Bank National Association

60 Livingston Avenue

EP-MN-WS3C

St. Paul, MN 55107-2292

Attn: Donnie Hurrelbrink

     Parent, the Company, any Subsidiary Guarantor or the Trustee, by notice to the others, may
designate additional or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) will be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed, when answered back, if telexed; when receipt
acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery.

     Any notice or communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication will also be
so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to
mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with
respect to other Holders.

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     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee
and each Agent at the same time.

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

     Where this Indenture provides for notice of any event to a Holder of a Global Note, such
notice shall be sufficiently given if given to the Depositary for such Note (or its designee),
pursuant to the Applicable Procedures, not later than the latest date (if any), and not earlier
than the earliest date (if any), prescribed for the giving of such notice.

     SECTION 13.03 Communication by Holders of Notes with Other Holders of Notes. Holders
may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this
Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else shall have the
protection of TIA § 312(c).

     SECTION 13.04 Certificate and Opinion as to Conditions Precedent. Upon any request
or application by the Company to the Trustee to take any action under this Indenture, the Company
shall furnish to the Trustee (except (i) with respect to the Trustee’s authentication of the
Initial Notes the Issue Date and (ii) that the Opinion of Counsel referred to in Section
13.04(2) hereof shall not be required in connection with an Authentication Order):

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to
the Trustee (which must include the statements set forth in Section 13.05
hereof) stating that, in the opinion of the signers, all conditions precedent and
covenants, if any, provided for in this Indenture relating to the proposed action
have been satisfied; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the
Trustee (which must include the statements set forth in Section 13.05
hereof) stating that, in the opinion of such counsel, all such conditions precedent
and covenants have been satisfied.

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

     Any certificate or opinion of an Officer of Parent, the Company or any Subsidiary Guarantor
may be based, insofar as it relates to legal matters, upon a certificate of opinion of, or
representations by, counsel, unless such Officer knows, or in the exercise of reasonable care

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

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

     SECTION 13.05 Statements Required in Certificate or Opinion. Each certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture
(other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the provisions of
TIA § 314(e) and must include:

     (1) a statement that the Person making such certificate or opinion has read
such covenant or condition;

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

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

     (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been satisfied.

     SECTION 13.06 Rules by Trustee and Agents. The Trustee may make reasonable rules for
action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and
set reasonable requirements for its functions.

     SECTION 13.07 No Personal Liability of Directors, Officers, Employees and
Stockholders. No director, officer, employee, incorporator or stockholder of Parent, the
Company or any Subsidiary Guarantor, as such, will have any liability for any obligations of
Parent, the Company or the Subsidiary Guarantors under the Notes, this Indenture, the Note
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes. The waiver may not be effective to
waive liabilities under the federal securities laws.

     SECTION 13.08 Governing Law. THIS INDENTURE AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HERETO AND THERETO, INCLUDING THE

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INTERPRETATION, CONSTRUCTION, VALIDITY AND ENFORCEABILITY THEREOF, SHALL BE GOVERNED BY AND
SHALL BE CONSTRUED, INTERPRETED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     SECTION 13.09 No Adverse Interpretation of Other Agreements. This Indenture may not
be used to interpret any other indenture, loan or debt agreement of Parent, the Company or their
respective Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not
be used to interpret this Indenture.

     SECTION 13.10 Successors. All agreements of Parent and the Company in this Indenture
and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind
its successors. All agreements of each Subsidiary Guarantor in this Indenture will bind its
successors, except as otherwise provided in Section 11.05.

     SECTION 13.11 Severability. In case any provision in this Indenture or in the Notes
is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

     SECTION 13.12 Counterpart Originals. The parties may sign any number of copies of
this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement.

     SECTION 13.13 Table of Contents, Headings, etc. The Table of Contents,
Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been
inserted for convenience of reference only, are not to be considered a part of this Indenture and
will in no way modify or restrict any of the terms or provisions hereof.

     SECTION 13.14 Benefits of Indenture. Nothing in this Indenture or in the Notes or
Note Guarantees, express or implied, shall give to any Person, other than the parties hereto and
their successors hereunder and the Holders of Notes, any benefit or any legal or equitable right,
remedy or claim under this Indenture, the Notes or the Note Guarantees.

[Signatures on following page]

121

 

SIGNATURES

	 	 	 	 	 
	 	SWIFT SERVICES HOLDINGS, INC.

 	 
	 	By:  	/s/ Jerry Moyes	 
	 	 	Name: 	Jerry Moyes	 
	 	 	Title: 	Chief Executive Officer	 
	 

	 	 	 	 	 
	 	COMMON MARKET EQUIPMENT CO., LLC

ESTRELLA DISTRIBUTING LLC

INTERSTATE EQUIPMENT LEASING, LLC

M.S. CARRIERS, LLC

SPARKS FINANCE LLC

SWIFT INTERMODAL, LLC

SWIFT LEASING CO., LLC

SWIFT TRANSPORTATION COMPANY

SWIFT TRANSPORTATION CO., LLC

SWIFT TRANSPORTATION CO. OF ARIZONA, LLC

SWIFT TRANSPORTATION CO. OF VIRGINIA, LLC

SWIFT TRANSPORTATION SERVICES, LLC,

as Guarantors

 	 
	 	By:  	/s/ Jerry Moyes	 
	 	 	Name: 	Jerry Moyes	 
	 	 	Title: 	Chief Executive Officer	 
	 

Indenture

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as
 Trustee and as
Collateral Agent

 	 
	 	By:  	/s/ Raymond S. Haverstock	 
	 	 	Name:  	Raymond S. Haverstock 	 
	 	 	Title:  	Vice President 	 
	 

Indenture

	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 

 

 

Schedule 4.22

Swift 2010 Mortgaged Properties

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Desc	 	L/O/CS	 	Location	 	Street Address	 	City, St. Zip
	1.

	 	Swift
	 	Own
	 	Albuquerque, NM*
	 	301 Airport Rd NW
	 	Albuquerque, NM 87109
	2.

	 	Swift
	 	Own
	 	Avenel, NJ (Shop)
	 	943 Omar Avenue
	 	Avenel, NJ 07001
	3.

	 	Swift
	 	Own
	 	Columbus, OH
	 	4141 Park West Dr.
	 	Columbus, OH 43228
	4.

	 	Swift
	 	Own
	 	Decatur, GA (Atlanta)
	 	5250 Truman Drive
	 	Decatur, GA 30035
	5.

	 	Swift
	 	Own
	 	Denver, CO
	 	4080 N. Rosemary Way
	 	Denver, CO 80216
	6.

	 	Swift
	 	Own
	 	Edwardsville, KS
	 	9000 Woodend Rd
	 	Edwardsville, KS 66111
	7.

	 	Swift
	 	Own
	 	El Paso, TX
	 	1001 Diesel Drive
	 	El Paso, TX 79907
	8.

	 	Swift
	 	Own
	 	Fontana, CA / Banana Ave
	 	9951 Banana Ave
	 	Fontana, CA 92335
	9.

	 	Swift
	 	Own
	 	Gary, IN
	 	6500 Industrial Hwy
	 	Gary, IN 46406
	10.

	 	Swift
	 	Own
	 	Greer, SC
	 	2841 Old Woodruff Rd
	 	Greer, SC 29651
	11.

	 	Swift
	 	Own
	 	Greer, SC (Truck Trailer Shop)
	 	1875 Hwy 101 South
	 	Greer, SC 29651-7115
	12.

	 	Swift
	 	Own
	 	Harrisburg, PA (Jonestown)
	 	103 RRl Jonestown, Box 1935
	 	Jonestown, PA 17038
	13.

	 	Swift
	 	Own
	 	Inver Grove Hts, MN
	 	11380 E Courthouse Blvd
	 	INVR GRV HTS, MN 55077
	14.

	 	Swift
	 	Own
	 	Lancaster, TX
	 	3250 N. Longhorn
	 	Lancaster, TX 75134
	15.

	 	M.S. Carriers
	 	Own
	 	Laredo, TX
	 	1101 Carrier Drive
	 	Laredo, TX 78045
	16.

	 	Swift
	 	Own
	 	Lathrop, CA
	 	901 D’Arcy Parkway
	 	Lathrop, CA 95330
	17.

	 	Swift
	 	Own
	 	Manteno, IL
	 	1215 N. Boudreau Rd
	 	Manteno, IL 60950-9383
	18.

	 	M.S. Carriers
	 	Own
	 	Memphis, TN / Brooks Rd.
	 	3150 Starnes Cv
	 	Memphis, TN 38116
	19.

	 	Swift
	 	Own
	 	Memphis, TN / Pilot Dr.
	 	3961 Pilot Drive
	 	Memphis, TN 38118
	20.

	 	Swift
	 	Own
	 	Mira Loma, CA (Shop)
	 	11888 Mission Blvd
	 	Mira Loma, CA 91752-1003
	21.

	 	Swift
	 	Own
	 	New Boston, MI (Detroit)
	 	24200 Bell
	 	Huron Township, Ml 48164

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Desc	 	L/O/CS	 	Location	 	Street Address	 	City, St. Zip
	22.

	 	Swift
	 	Own
	 	Ocala; FL
	 	2201 SW 57th Ave
	 	Ocala, FL 34474
	23.

	 	Swift Corp
	 	Own
	 	Phoenix, AZ
	 	2200 S. 75th Ave
	 	Phoenix, AZ 85043
	24.

	 	Swift
	 	Own
	 	Richmond, VA
	 	2841 Charles City Road
	 	Richmond, VA 23230
	25.

	 	Swift
	 	Own
	 	Salt Lake City, UT
	 	3720 W 800 S
	 	Salt Lake City, UT 84104-4565
	26.

	 	Swift
	 	Own
	 	Sparks, NV
	 	1455 Hulda Way
	 	Sparks, NY 89431-7124
	27.

	 	Swift
	 	Own
	 	Sumner, WA
	 	4720 142nd Avenue E
	 	Sumner WA 98390
	28.

	 	Swift
	 	Own
	 	Syracuse, NY
	 	7470 Round Pond Rd
	 	Syracuse, NY 13212-3376
	29.

	 	Swift
	 	Own
	 	Troutdale, OR
	 	2021 NW Sundial Rd
	 	Troutdale, OR 97060
	30.

	 	Swift
	 	Own
	 	Wilmington, CA
	 	221 E. D. Street
	 	Wilmington CA 90744-5911
	31.

	 	Swift
	 	Own
	 	Fontana, CA
	 	Vacant — Zac Parcel	 	 
	32.

	 	Swift
	 	Own
	 	Sparks, NV
	 	LTL terminal adjacent to Terminal
(Leased to Estes Freight)	 	 
	33.

	 	Swift
	 	Own
	 	Phoenix, AZ
	 	Southwest Corner 75th Ave & Buckey
	 	Phoenix, AZ 85043
	34.

	 	Swift
	 	Own
	 	Portland, OR
	 	Martin Luther King Rd. & Race Trac
	 	Portland, OR
	35.

	 	M.S. Carriers Logistics
	 	Own
	 	Nuevo Laredo, MX
	 	Transmex Terminal	 	 

 

			
	*	 	Properties which the company has estimated in good faith to have a fair market value of more than
$5,000,000 and which will be mortgaged in connection with the financing.

 

 

EXHIBIT A

FORM OF NOTE

[Face
of Note] 

CUSIP/ISIN [ ____________]1

$10.000% Senior Second Priority Secured Notes due 2018

			
	 	 	 
	No. [____]
	 	$[____________________]

SWIFT SERVICES HOLDINGS, INC.

promises to pay to [_____________________________] or registered assigns,

the principal sum of [______________________________________________________]
DOLLARS [Insert if Note is issued in Global
Form: (or such [greater] [or] [lesser] amount as may from time to time be endorsed in accordance
with the Indenture on the “Schedule of Exchanges of Interests in the Global Note” attached hereto)]
on November 15, 2018.

Interest Payment Dates: May 15 and November 15

Record Dates: May 1 and November 1

Dated: December 21, 2010.

	 	 	 	 	 
	 	SWIFT SERVICES HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

This is one of the Notes referred to

in the within-mentioned Indenture:

 

			
	1	 	Rule 144A Note CUSIP: 870755AA3

Rule 144A Note ISIN: US870755AA35

Regulation S Note CUSIP: U8682TAA9

Regulation S Note ISIN: USU U8682TAA98

Exchange Note CUSIP: 870755AB1

Exchange Note ISIN: US870755AB18

IAI Note CUSIP: 870755AC9

IAI Note ISIN: US870755AC90

A-1

 

	 	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 	 
	By:  	 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 

A-2

 

	 	 	 	 	 

Back of Note

$10.000% Senior Second Priority Secured Notes due 2018

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

[Insert the Temporary Regulation S Global Note Legend, if applicable pursuant to the provisions of
the Indenture]

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     (1) INTEREST. Swift Services Holdings, Inc., a Delaware corporation (such corporation, and
its successors and assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Note at 10.000% per
annum from December 21, 2010 until maturity. The Company will pay interest semi-annually in arrears
on May 15 and November 15 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will
accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from the date of issuance; provided that if there is no existing Default in the payment of
interest, and if this Note is authenticated between a record date referred to on the face hereof
and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding
Interest Payment Date; provided further that the first Interest Payment Date shall
be May 15, 2011. The Company will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at
a rate that is 1% per annum in excess of the rate then in effect; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year comprised of twelve 30-day months.

     (2) METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest)
to the Persons who are registered Holders of Notes at the close of business on the May 1 and
November 1 next preceding the Interest Payment Date, even if such Notes are canceled after such
record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the
Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium
and interest at the office or agency of the Company maintained for such purpose within or without
the City and State of New York, or, at the option of the Company, payment of interest may be made
by check mailed to the Holders at their addresses set forth in the register of Holders;
provided that payment by wire transfer of immediately available funds will be required with
respect to principal of, interest, and premium, if any, on all Global Notes and all other Notes the
Holders of which will have provided wire transfer instructions to the Company or the Paying Agent.
Such payment will be in such coin or currency of the United

A-3

 

States of America as at the time of payment is legal tender for payment of public and private
debts.

     (3) PAYING AGENT AND REGISTRAR. Initially, U.S. Bank National Association, the Trustee under
the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or
Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity.

     (4) INDENTURE. The Company issued the Notes under an Indenture dated as of December 21, 2010
(the “Indenture”) among the Company, Parent, the Subsidiary Guarantors and the Trustee. The
terms of the Notes include those stated in the Indenture and those made part of the Indenture by
reference to the TIA (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of
the Indenture shall govern and be controlling. The Notes are senior second priority secured
obligations of the Company. Terms used but not defined herein shall have the meanings given to
them in the Indenture.

     (5) OPTIONAL REDEMPTION.

     (a) On or after November 15, 2014, the Company may redeem all or a part of the Notes. The
redemption price for the Notes (expressed as a percentage of principal amount) will be as follows,
plus accrued and unpaid interest to the redemption date, if redeemed during the 12-month period
commencing on November 15 of any year set forth below preceded below:

	 	 	 	 	 
	Year	 	Redemption Price
	2014
	 	 	105.000	%
	2015
	 	 	102.500	%
	2016 and thereafter
	 	 	100.000	%

     (b) At any time prior to November 15, 2013, the Company may redeem up to 35% of the
aggregate principal amount of Notes issued under the Indenture (including any Additional Notes
issued after the Issue Date) at a redemption price of 110.000% of the principal amount thereof,
plus accrued and unpaid interest to, but not including, the redemption date, with the net cash
proceeds of one or more Equity Offerings; provided that:

     (1) at least 65% of the aggregate principal amount of Notes issued under the Indenture
(including any Additional Notes but excluding Notes held by. Parent or its Subsidiaries)
remains outstanding immediately after the occurrence of such redemption; and

     (2) the redemption occurs within 120 days of the date of the closing of such Equity
Offering.

A-4

 

     (c) At any time prior to November 15, 2014, the Company may redeem in whole or in part the
Notes at a redemption price equal to 100.000% of the principal amount of the Notes redeemed plus
the Applicable Premium, plus accrued and unpaid interest to, but not including, the redemption
date.

     (d) All redemptions of the Notes will be made upon not less than 30 days’ nor more than 60
days’ prior notice mailed by first-class mail to each Holder’s registered address and otherwise in
accordance with the procedures set forth in the Indenture.

     (6) MANDATORY REDEMPTION. The Company is not required to make mandatory redemption or sinking
fund payments with respect to the Notes.

     (7) REPURCHASE AT THE OPTION OF HOLDER.

     (a) If a Change of Control occurs, each Holder will have the right to require the Company to
repurchase all or any part (equal to $2,000 or a larger multiple of $1,000) of that Holder’s Notes
pursuant to a Change of Control Offer on the terms set forth in the Indenture, at a purchase price
equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest on the
Notes repurchased, if any, to, but not including, the date of purchase, subject to the rights of
the Holders on the relevant record date to receive interest due on the relevant interest payment
date.

     (b) In accordance with Section 4.10 of the Indenture, the Company will be required to offer to
purchase Notes upon the occurrence of certain events.

     (8) NOTICE OF REDEMPTION. At least 30 days but not more than 60 days before a redemption
date, the Company will mail or cause to be mailed, by first class mail, a notice of redemption to
each Holder whose Notes are to be redeemed at its registered address, except that redemption
notices may be mailed more than 60 days prior to a redemption date if the notice is issued in
connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant
to Articles 8 or 12 of the Indenture.

     (9) RANKING AND COLLATERAL. The Notes and the Note Guarantees are, secured by a second
priority security interest in the Collateral pursuant to certain Security Documents. The second
priority Liens upon any and all Collateral are, to the extent and in the manner provided in the
Intercreditor Agreement, subordinate in ranking to all present and future Liens in respect of First
Priority Lien Obligations and will be of equal ranking with all present and future Liens securing
Other Second Lien Obligations as set forth in the Intercreditor Agreement.

     (10) GUARANTEES. Payment of principal and interest (including interest on overdue principal
and overdue interest, if lawful) is unconditionally guaranteed, jointly and severally, by each of
Parent and the Subsidiary Guarantors.

     (11) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and a larger integral multiples of $1,000. The transfer of Notes may be
registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes

A-5

 

and fees required by law or permitted by the Indenture. The Company need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the
unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or
register the transfer of any Notes for a period of 15 days before a selection of Notes to be
redeemed or during the period between a record date and the corresponding Interest Payment Date.

     (12) PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for
all purposes.

     (13) AMENDMENT, SUPPLEMENT AND WAIVER.

     (a) Subject to certain exceptions, the Company, Parent, the Subsidiary Guarantors and the
Trustee may amend or supplement the Indenture (including, without limitation, Section 4.10 and 4.15
thereof), the Note Guarantees, the Notes, the Security Documents and the Intercreditor Agreement
with the consent of the Holders of at least a majority in aggregate principal amount of the Notes
(including, without limitation, Additional Notes, if any) then outstanding (including, without
limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase
of, the Notes), and, subject to Sections 6.04 and 6.07 of the Indenture, any existing Default or
Event of Default (other than a Default or Event of Default in the payment of the principal of,
premium, if any, or interest on the Notes, except a payment default resulting from an acceleration
that has been rescinded) or compliance with any provision of the Indenture or the Note Guarantees
or the Notes may be waived with the consent of the Holders of a majority in aggregate principal
amount of the then outstanding Notes (including, without limitation, Additional Notes, if any)
voting as a single class (including, without limitation, consents obtained in connection with a
tender offer or exchange offer for, or purchase of, the Notes). Section 2.08 of the Indenture shall
determine which Notes are considered to be “outstanding”.

     (b) Without the consent of any Holder, the Company, Parent, the Subsidiary Guarantors and the
Trustee may amend or supplement the Indenture, the Notes, the Note Guarantees, the Security
Documents or the Intercreditor Agreement: to cure any ambiguity, omission, defect or inconsistency;
to provide for uncertificated Notes in addition to or in place of certificated Notes; to provide
for the assumption of Parent’s, the Company’s or a Subsidiary Guarantor’s obligations to the
Holders of Notes and Note Guarantees in the case of a merger or consolidation or sale of all or
substantially all of Parent’s, the Company’s or such Subsidiary Guarantor’s assets, as applicable;
to make any change that would provide any additional rights or benefits to the Holders or that does
not adversely affect the legal rights hereunder of any such Holder; to comply with requirements of
the Securities and Exchange Commission in order to effect or maintain the qualification of the
Indenture under the TIA; to conform the text of the Indenture, the Note Guarantees or the Notes to
any provision of the “Description of Notes” section of the Offering Memorandum to the extent that
such provision in that “Description of Notes” was intended to be a verbatim recitation of a
provision of the Indenture, the Note Guarantees or the Notes; to provide for the issuance of
Additional Notes in accordance with the limitations set forth in the Indenture; to allow any
Subsidiary Guarantor to execute a supplemental indenture and/or a Note Guarantee with respect to
the Notes and to release Subsidiary Guarantors from the Note Guarantee in accordance with the terms
of the Indenture or

A-6

 

the Intercreditor Agreement, as applicable, as of the date of the Indenture; to make, complete
or confirm any grant of Collateral permitted or required by the Indenture, the Intercreditor
Agreement or any of the Security Documents or any release of Collateral that becomes effective as
set forth in the Indenture, the Intercreditor Agreement or any of the Security Documents; [or to
provide for the issuance of exchange securities which shall have terms substantially identical in
all respects to the Notes (except that the transfer restrictions contained in the Notes shall be
modified or eliminated as appropriate) and which shall be treated, together with any outstanding
Notes, as a single class of securities]2.

     (14) DEFAULTS AND REMEDIES.

     (a) Events of Default include: (i) default for 30 days in the payment when due of interest on
the Notes; (ii) default in the payment when due (at maturity, upon redemption or otherwise) of the
principal of, or premium, if any, on the Notes; (iii) failure by Parent, the Company or any of
Parent’s Restricted Subsidiaries for five Business Days to comply with the provisions of Section
4.15 or Section 5.01 of the Indenture; (iv) failure by Parent, the Company or any of Parent’s
Restricted Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at
least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to
comply with any of the other agreements in the Indenture or the Security Documents; (v) default
under any mortgage, indenture or instrument under which there may be issued or by which there may
be secured or evidenced any Indebtedness for money borrowed by Parent, the Company or any of
Parent’s Restricted Subsidiaries (or the payment of which is guaranteed by Parent, the Company or
any of Parent’s Restricted Subsidiaries), whether such Indebtedness or guarantee now exists or is
created after the Issue Date, if that default: (A) is caused by a failure to pay any portion of the
principal of such Indebtedness when due and payable after the expiration of the grace period
provided in such Indebtedness (a “Payment Default”); or (B) results in the acceleration of
such Indebtedness prior to its Stated Maturity, and, in each case, the principal amount of any such
Indebtedness, together with the principal amount of any other such Indebtedness under which there
has been a Payment Default or the maturity of which has been so accelerated, aggregates $30.0
million or more; (vi) failure by Parent, the Company or any of Parent’s Restricted Subsidiaries to
pay final and nonappealable judgments entered by a court or courts of competent jurisdiction
aggregating in excess of $30.0 million (net of any amounts which are covered by insurance or
bonded), which judgments are not paid, waived, satisfied, discharged or stayed for a period of 60
days; (vii) except as permitted by the Indenture, any Note Guarantee is held in any judicial
proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect
(other than in accordance with the terms of such Note Guarantee, the Indenture or the Intercreditor
Agreement) or Parent or any Subsidiary Guarantor, or any Person acting on behalf of Parent or any
Subsidiary Guarantor denies or disaffirms its obligations under its Note Guarantee; (viii) Parent,
the Company or any of Parent’s Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary
pursuant to or within the meaning of Bankruptcy Law: (A) commences a voluntary case, (B) consents
to the entry of an order for relief against it in an involuntary case, (C) consents to the
appointment of a custodian of it or for all or substantially all of its property, or (D) makes a
general assignment for the benefit of its creditors; (ix) a court of competent jurisdiction enters
an order or decree under any Bankruptcy

 

			
	2	 	For Initial Notes and Additional Notes only.

A-7

 

Law that: (A) is for relief against Parent, the Company or any of Parent’s Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of Parent
that, taken together, would constitute a Significant Subsidiary in an involuntary case; (B)
appoints a custodian of Parent, the Company or any of Parent’s Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of Parent that, taken together,
would constitute a Significant Subsidiary or for all or substantially all of the property of
Parent, the Company or any of Parent’s Restricted Subsidiaries that is a Significant Subsidiary or
any group of Restricted Subsidiaries of Parent that, taken together, would constitute a Significant
Subsidiary; or (C) orders the liquidation of Parent, the Company or any of Parent’s Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of Parent
that, taken together, would constitute a Significant Subsidiary, and, in each case, the order or
decree remains unstayed and in effect for 60 consecutive days; and (x) unless all the Collateral
has been released from the applicable Liens in accordance with the provisions of the Security
Documents or the Intercreditor Agreement, as applicable, default by Parent, the Company or any
Subsidiary Guarantor of Parent in the performance of the Security Documents, or the occurrence of
any other event, in each case that adversely affects the enforceability, validity, perfection or
priority of such Liens on a material portion of the Collateral granted to the Collateral Agent for
the benefit of the Trustee and the Holders, the repudiation or disaffirmation by Parent, the
Company or any Subsidiary Guarantor of its material obligations under the Security Documents or the
determination in a judicial proceeding that the Security Documents are unenforceable or invalid
against Parent, the Company or any Subsidiary Guarantor party thereto for any reason with respect
to a material portion of the Collateral (which default, occurrence, repudiation, disaffirmation or
determination is not rescinded, stayed or waived by the Persons having such authority pursuant to
the Security Documents or otherwise cured within 60 days after the Company receives notice thereof
specifying such occurrence from the Trustee or the Holders of at least 25% of the outstanding
principal amount of the Notes and demanding that such default, occurrence, repudiation,
disaffirmation or determination be remedied).

     (b) In the case of an Event of Default specified in clause (8) or (9) of Section 6.01 of the
Indenture, the principal of, premium, if any, and accrued interest on the Notes then outstanding
shall automatically become due and payable immediately without any declaration or other act on the
part of the Trustee or any Holder. If any other Event of Default occurs and is continuing under the
Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes,
then outstanding, by written notice to the Company (and to the Trustee if such notice is given by
the Holders), may, and the Trustee at the request of such Holders shall, declare the principal of
premium, if any, and accrued interest on the Notes to be immediately due and payable. Upon a
declaration of acceleration, such principal of, premium, if any, and accrued interest shall be
immediately due. and payable.

     (15) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may
become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliates of
the Company, with the same rights it would have if it were not the Trustee.

     (16) NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder
of Parent, the Company or any Subsidiary Guarantor, as such, will have any liability for any
obligations of Parent, the Company or the Subsidiary Guarantors under the

A-8

 

Notes, the Indenture, the Note Guarantees or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for issuance of the Notes.
The waiver may not be effective to waive liabilities under the federal securities laws.

     (17) AUTHENTICATION. This Note will not be valid until authenticated by the manual or
facsimile signature of the Trustee or an authenticating agent.

     (18) 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 right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

     (19) [ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES.
In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted
Global Notes and Restricted Definitive Notes will have all the rights set forth in the Registration
Rights Agreement dated as of December 21, 2010, among Swift Services Holdings, Inc., the Guarantors
named therein and the other parties named on the signature pages thereof or, in the case of
Additional Notes, Holders of Restricted Global Notes and Restricted Definitive Notes will have the
rights set forth in one or more registration rights agreements, if any, among the Company, the
Guarantors and the other parties thereto, relating to rights given by the Company and the
Guarantors to the purchasers of any Additional Notes (collectively, the “Registration Rights
Agreement”), including the right to receive Additional Interest in certain circumstances. If
applicable, Additional Interest shall be paid to the same Persons, in the same manner and at the
same times as regular interest.]3

     (20) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSP numbers to be printed on the Notes
and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the other identification
numbers placed thereon.

     (21) GOVERNING LAW. THIS NOTE AND-THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO AND
THERETO, INCLUDING THE INTERPRETATION, CONSTRUCTION, VALIDITY AND ENFORCEABILITY THEREOF, SHALL BE
GOVERNED BY AND SHALL BE CONSTRUED, INTERPRETED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.

 

			
	3	 	For Initial Notes and Additional Notes only.

A-9

 

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture [and/or the Registration Rights Agreement]4. Requests may be made to:

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, Arizona 85403

Attention: James Fry

 

			
	4	 	For Initial Notes and Additional Notes only.

A-10

 

ASSIGNMENT FORM

     To assign this Note, fill in the fowl below:

(I) or (we) assign and transfer this Note to:  

(Insert assignee’s legal name)

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

 

 

 

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

and irrevocably
appoint ______________________________________________________
to transfer this Note on the books of the Company. 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*:
 

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion
Program (or other signature guarantor acceptable to the
Trustee).

A-11

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or
4.15 of the Indenture, check the appropriate box below:

	 	 	 

	o Section 4.10

	 	o Section 4.15

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased:

$______________________

Date: ____________________

	 	 	 	 	 
	 	

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

Tax
Identification No.:  

Signature
Guarantee*:  

 

			
	•	 	Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

A-12

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

     The following exchanges of a part of this Global Note for an interest in another Global Note
or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an
interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of decrease in	 	 	Amount of increase in	 	 	Principal Amount at	 	 	 	 
	 	 	Principal Amount in	 	 	Principal Amount at	 	 	maturity of this Global	 	 	Signature of authorized	 
	 	 	maturity of this Global	 	 	maturity of this Global	 	 	Note following such	 	 	officer of Trustee or	 
	Date of Exchange	 	Note	 	 	Note	 	 	decrease (or increase)	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

 

			
	*	 	This schedule should be included only if the Note is issued in global form.

A-13

 

EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, Arizona 85403

Attention: James Fry

U.S. Bank National Association

60 Livingston Avenue

St. Paul, MN 55107

Attn: Corporate Trust Administration

Re: $500.0 million 10.000% Senior Second Priority Secured Notes due 2018

     Reference is hereby made to the Indenture, dated as of December 21, 2010 (the
“Indenture”), among Swift Services Holdings, Inc. as issuer (such corporation, and its
successors and assigns under the Indenture, being herein called the “Company”), Swift
Transportation Company, the Subsidiary Guarantors party thereto and U.S. Bank National Association,
as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.

     __________, (the “Transferor”) owns and proposes to transfer the Note[s] or interest
in such Note[s] specified in Annex A hereto, in the principal amount of $___________ in such
Note[s] or interests (the “Transfer”), to _____________ (the. “Transferee”), as
further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

[CHECK ALL THAT APPLY]

     1.   o   Check if Transferee will take delivery of a beneficial interest in the 144A Global
Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being effected
pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

B-1

 

     2.   o   Check if Transferee will take delivery of a beneficial interest in the Regulation S
Global Note or a Restricted Definitive Note pursuant to Regulation S. The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and,
accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a
Person in the United States and (x) at the time the buy order was originated, the Transferee was
outside the United States or such Transferor and any Person acting on its behalf reasonably
believed and believes that the Transferee was outside the United States or (y) the transaction was
executed in, on or through the facilities of a designated offshore securities market and neither
such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with
a buyer in the United States, (ii) no directed selling efforts have been made in contravention of
the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the
transaction is not part of a plan or scheme to evade the registration requirements of the
Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the
Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of
a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed
on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the
Securities Act.

     3.   o   Check and complete if Transferee will take delivery of a beneficial interest in the
IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities Act
other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the
transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue
sky securities laws of any state of the United States, and accordingly the Transferor hereby
further certifies that (check one):

     (a)   o   such Transfer is being effected pursuant to and in accordance with Rule 144
under the Securities Act;

or

     (b)   o   such Transfer is being effected to the Company or a subsidiary thereof;

or

     (c)   o   such Transfer is being effected to an Institutional Accredited Investor and
pursuant to an exemption from the registration requirements of the Securities Act other than
Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that
it has not engaged in any general solicitation within the meaning of Regulation D under the
Securities Act and the Transfer complies with the transfer restrictions applicable to
beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the
requirements of the exemption claimed, which certification is supported by (1) a certificate
executed by the Transferee in the form of Exhibit C to the Indenture and (2) if such
Transfer is in respect of a principal amount of Notes at the time of transfer of less than
$250,000, an Opinion of Counsel provided by the Transferor or

B-2

 

the Transferee (a copy of which the Transferor has attached to this certification), to
the effect that such Transfer is in compliance with the Securities Act. Upon consummation of
the proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the IAI Global Note and/or the
Restricted Definitive Notes and in the Indenture and the Securities Act.

     4.   o    Check if Transferee will take delivery of a beneficial interest in an Unrestricted
Global Note or of an Unrestricted Definitive Note.

     (a)   o   Check if Transfer is pursuant to Rule 144. (i) The Transfer is being
effected pursuant to and in accordance with Rule 144 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue
sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will no longer be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture.

     (b)   o   Check if Transfer is Pursuant to Regulation S. (i) The Transfer is
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities
Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will no longer be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes, on
Restricted Definitive Notes and in the Indenture.

     (c)   o   Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is
being effected pursuant to and in compliance with an exemption from the registration
requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue
sky securities laws of any State of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will not be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive
Notes and in the Indenture.

     (d)   o   Check if Transfer is Pursuant to Effective Registration Statement.
The Transfer is being effected pursuant to an effective registration statement under the

B-3

 

Securities Act and in compliance with the prospectus delivery requirements of the
Securities Act;

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	[Insert Name of Transferor] 	 
	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     Dated: __________________________

B-4

 

ANNEX A TO CERTIFICATE OF TRANSFER

1. The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

	 	(a)	 	o   a beneficial interest in the:

	 	(i)	 	o   144A Global Note (CUSIP ____________), or
	 
	 	(ii)	 	o   Regulation S Global Note (CUSIP ____________), or
	 
	 	(iii)	 	o   IAI Global Note (CUSIP ____________); or

	 	(b)	 	o   a Restricted Definitive Note.

2. After the Transfer the Transferee will hold:

[CHECK ONE]

	 	(a)	 	o   a beneficial interest in the:

	 	(i)	 	o   144A Global Note (CUSIP ____________), or
	 
	 	(ii)	 	o   Regulation S Global Note (CUSIP ____________), or
	 
	 	(iii)	 	o   IA1 Global Note (CUSIP ____________); or
	 
	 	(iv)	 	o   Unrestricted Global Note (CUSIP ____________); or

	 	(b)	 	o   a Restricted Definitive Note; or
	 
	 	(c)	 	o   an Unrestricted Definitive Note,
in accordance with the terms of the Indenture.

B-5

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, Arizona 85403

Attention: James Fry

U.S. Bank National Association

60 Livingston Avenue

St. Paul, MN 55107

Attn: Corporate Trust Administration

Re:
$ [   ] million 10.000% Senior Second Priority Secured Notes due 2018

(CUSIP _________)

     Reference is hereby made to the Indenture, dated as of December 21, 2010 (the
“Indenture”), among Swift Services Holdings, Inc., as issuer (such corporation, and its
successors and assigns under the Indenture, being herein called the “Company”), Swift
Transportation Company, the Subsidiary Guarantors party thereto and U.S. Bank National Association,
as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.

     _____________ (the “Owner”) owns and proposes to exchange the Note[s] or interest in
such Note[s] specified herein, in the principal amount of $____________ in such Notes] or interests
(the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

     1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global
Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note

     (a)   o    Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global
Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in
accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act, (iv) the Exchange or transfer has
been effected pursuant to a registration statement in accordance with the Registration Rights
Agreement or (v) the beneficial interest in an Unrestricted Global Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States.

C-1

 

     (b)   o   Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in
a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States.

     (c)   o   Check if Exchange is from Restricted Definitive Note to beneficial interest in an
Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note
for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions
on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired
in compliance with any applicable blue sky securities laws of any state of the United States.

     (d)   o   Check If Exchange is from Restricted Definitive Note to Unrestricted Definitive Note.
In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted
Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States.

     2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global
Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes

     (a)   o   Check If Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a
Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner
hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and
in the Indenture and the Securities Act.

     (b)   o   Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s

C-2

 

Restricted Definitive Note for a beneficial interest in the [CHECK ONE] o 144A Global Note, o
Regulation S Global Note, o IAI Global Note with an equal principal amount, the Owner hereby
certifies (i) the beneficial interest is being acquired for the Owner’s own account without
transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities
Act, and in compliance with any applicable blue sky securities laws of any state of the United
States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture,
the beneficial interest issued will be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and
the Securities Act.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	 	 
	 	

 	 
	 	[Insert Name of Transferor] 	 
	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: __________________________

C-3

 

EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

Swift Services Holdings, Inc.

c/o Swift Transportation Company

2200 S. 75th Ave.

Phoenix, Arizona 85403

Attention: James Fry

U.S. Bank National Association

60 Livingston Avenue

St. Paul, MN 55107

Attn: Corporate Trust Administration

Re:  $[   ] million 10.000% Senior Second Priority Secured Notes due 2018

     Reference is hereby made to the Indenture, dated as of December 21, 2010 (the
“Indenture”), among Swift Services Holdings, Inc., as issuer (such corporation, and its
successors and assigns under the Indenture, being herein called the “Company”), Swift
Transportation Company, the Subsidiary Guarantors party thereto and U.S. Bank National Association,
as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.

     In connection with our proposed purchase of $___________ aggregate principal amount of:

          (a)   o   a beneficial interest in a Global Note, or

          (b)   o   a Definitive Note,

          we confirm that:

     1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended
(the “Securities Act”).

     2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Company, (B) so long as this Note is eligible for resale
pursuant to Rule 144A, to a person whom the seller reasonably believes is a “qualified
institutional buyer” within the meaning of Rule 144A, purchasing for its own account or for the
account of a “qualified institutional buyer” to whom notice is given that the resale, pledge or

D-1

 

other transfer is being made in reliance on Rule 144A, (C) in an offshore transaction in
accordance with Regulation S, (D) to an institutional “accredited investor” (as defined below) that
is acquiring this Note for investment purposes and not for distribution, and a certificate which
may be obtained from the Company or the Trustee is delivered by the transferee to the Company and
the Trustee, (E) pursuant to any exemption from registration under the Securities Act provided by
Rule 144 (if applicable) under the Securities Act, or (F) pursuant to an effective registration
statement under the Securities Act, in each case, in accordance with any applicable securities laws
of any state of the United States., and we further agree to provide to any Person purchasing the
Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the
requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser that
resales thereof are restricted as stated herein.

     3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we
will be required to furnish to you and the Company such certifications, legal opinions and other
information as you and the Company may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us will
bear a legend to the foregoing effect.

     4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

     5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

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

	 	 	 	 	 
	 	[Insert Name of Accredited Investor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: ___________________

D-2

 

EXHIBIT E

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of ________, 200_,
among ________________ (the “Guaranteeing Subsidiary”), a subsidiary of Swift
Transportation Company (or its permitted successor), a Delaware corporation (“Parent”),
Swift Services Holdings Inc., a Delaware corporation (the “Company”), the other Subsidiary
Guarantors (as defined in the Indenture referred to herein) and U.S. Bank National Association, as
trustee under the Indenture referred to below (the “Trustee”).

WITNESSETH

     WHEREAS, the Company, Parent, the other Subsidiary Guarantors and the Trustee are parties to
the indenture (the “Indenture”), dated as of December 21, 2010, pursuant to which the
Company issued its 10.000% Senior Second Priority Secured Notes due 2018 (the “Notes”);

     WHEREAS, the Guaranteeing Subsidiary desires to execute and deliver this Supplemental
Indenture to the Trustee for the purpose of guaranteeing the payment of all obligations of the
Company under the Indenture and the Notes and the performance of all other obligations of the
Company under the Indenture and the Notes, on the terms and conditions set forth in Article 11 of
the Indenture;

     WHEREAS, Section 4.19 of the Indenture provides that under certain circumstances the
Guaranteeing Subsidiary shall execute and deliver a supplemental indenture to the Trustee providing
for the guarantee of the payment of the Notes by the Guaranteeing Subsidiary, on the terms and
conditions set forth in the Indenture (the “Note Guarantee”) and simultaneously with the
execution and delivery of such supplemental indenture, execute and deliver the applicable Security
Documents (as defined in the Indenture) pursuant to which its assets (of the same type as the
assets of Parent, the Company and the other Subsidiary Guarantors constituting Collateral) will
become part of the Collateral and will secure the Notes and Note Guarantee in the manner specified
in the Indenture and the Security Documents; and

     WHEREAS, pursuant to Section 9.01(8) of the Indenture, the Trustee is authorized to execute
and deliver this Supplemental Indenture without the consent of any Holder.

     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company, the
Guaranteeing Subsidiary, the other Subsidiary Guarantors, the Parent and the Trustee mutually
covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

     1. Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture.

E-1

 

     2. Agreement To Guarantee. The Guaranteeing Subsidiary hereby agrees, jointly and
severally with Parent and the other Subsidiary Guarantors to provide an unconditional Guarantee on
the terms and subject to the conditions set forth in the Indenture including but not limited to
Article 11 thereof.

     3. Ratification of Indenture; Supplemental Indenture Part of Indenture.  Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed, and all the
terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore
or hereafter authenticated and delivered thereunder shall be bound hereby.

     4. No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of Parent, the Company, the Guaranteeing Subsidiary or any Subsidiary Guarantor, as
such, will have any liability for any obligations of Parent, the Company, the Guaranteeing
Subsidiary or the Subsidiary Guarantors under the Notes, the Indenture, the Note Guarantees or for
any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder
by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under
the federal securities laws.

     5. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HERETO AND THERETO, INCLUDING THE INTERPRETATION, CONSTRUCTION, VALIDITY AND ENFORCEABILITY
THEREOF, SHALL BE GOVERNED BY AND SHALL BE CONSTRUED, INTERPRETED AND ENFORCED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK.

     6. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

     7. Effect Of Headings. The section headings herein are for convenience only and shall
not affect the construction hereof.

     8. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of
the recitals contained herein, all of which recitals are made solely by the Guaranteeing
Subsidiary, the Company, Parent and the Subsidiary Guarantors.

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

Dated: ______________, 20__

E-2

 

	 	 	 	 	 
	 	[GUARANTEEING SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SWIFT SERVICES HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SWIFT TRANSPORTATION COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[EXISTING SUBSIDIARY GUARANTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

E-3

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