Document:

Exhibit 10.3

 

September 27, 2005

 

Life Therapeutics, Ltd

P.O. Box 6126 Frenchs Forest

22 Rodborough Road

NSW 2086, Australia

Attention:  John Manusu & Hari
Nair

 

RE:                              Retirement
of Secured Promissory Note dated December 17, 2004 (the “Note”)

 

Dear Sirs:

 

This letter shall constitute our agreement with respect to the
retirement (the “Payoff”) of the Note, which we hereby agree shall occur
prior to 5:00 p.m., Atlanta, time, on the date hereof (the “Payoff Date”).  In exchange for (i) your proposed
payment of the outstanding principal amount of the Note, which we hereby agree
is US$6,800,000.00, prior to the stated maturity date and (ii) your
covenants as set forth below, we hereby agree to accept the amount of
US$6,000,000.00 in full satisfaction of the principal amount of the Note (the “Discounted
Principal Amount”).  Accordingly, on
the Payoff Date, you shall pay the amount (the “Payoff Sum”) set forth
below by wire transfer of immediately available funds:

 

	
  Amount with respect to outstanding

  	
   

  	
   

  	
   

  
	
  Principal Balance

  	
   

  	
  $

  	
  6,000,000.00

  	
   

  
	
  Interest due and payable

  	
   

  	
  $

  	
  57,334.00

  	
   

  
	
  Total

  	
   

  	
  $

  	
  6,057,334.00

  	
   

  

 

In addition, we agree that additional interest shall accrue and be
payable at the Short-Term Applicable Federal Rate for September 2005
(assuming quarterly compounding) (3.84%) for each day after the Payoff Date (in
the amount of $715.40) until we receive the Payoff Sum.  The Payoff Sum must be received, in
immediately available funds, by 5:00 P.M. (Eastern time) on the Payoff
Date in order for you to avoid an additional day’s interest.

 

Subject to the terms hereof,
on the Payoff Date,

•                  You shall deliver to us,

•                  the Payoff Sum, in
immediately available funds and;

•                  an executed counterpart of
the Mutual Limited Release substantially in the form attached hereto as Schedule 2
to this letter (the “Release”).

•                  We shall deliver to you,

•                  the original copy of the
Note marked “paid in full”;

•                  the UCC-3 Termination
Statements with respect to the financing statements described on Schedule 3
to this letter; and

•                  an executed counterpart of
the Release.

 

 

In addition to the
foregoing, you covenant and agree as follows:

 

•                  You shall use your
commercially reasonable efforts to secure a termination of our guaranty of the
leases of the Charlotte, North Carolina, Columbia, South Carolina and
Pensacola, Florida donor centers as soon as reasonably practicable following
the Payoff Date and

•                  You shall grant to us a
license to certain technology, as more particularly described on Schedule 1
to this letter, on terms substantially as set forth on Schedule 1
to this letter and on such other terms and conditions as the parties may
mutually agree.

 

We agree to negotiate the
terms of the license agreement that are not set forth in Schedule 1 to
this letter with you in good faith with a view toward executing the license
agreement no later than October 15, 2005.

 

We acknowledge and agree that this letter supersedes and replaces in
its entirety the letter we executed on September 13, 2005, with respect to
the Payoff.

 

If the foregoing correctly sets forth your understanding of our
agreement, please so indicate by signing a counterpart of this letter in the
space provided below.  Please return you
signed counterpart to me at the address above.

 

	
  Sincerely,

  
	
   

  
	
  SEROLOGICALS CORPORATION

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Harold W. Ingalls

  	
   

  
	
   

  	
  Harold W. Ingalls

  
	
   

  	
  Vice President, Finance, Chief Financial Officer

  
	
   

  
	
   

  
	
  LIFE THERAPEUTICS, LTD

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Dr. Hari Nair

  	
   

  
	
   

  	
  Dr. Hari Nair

  
	
   

  	
  Managing Director/CEO

  
				

 

2

 

Schedule 1 –License Terms

 

	
  Description of Licensed
  Technology:

  	
   

  	
  The patented technology relating
  to tangential flow membrane electrophoresis, including patent rights and
  patents that may from time to time issue with claims covering the Licensor’s
  patented Gradiflow Device or improvements thereto and other information
  relating to use of the Gradiflow Technology for the recovery of proteins and
  other charged molecules from solutions containing such molecules

  
	
   

  	
   

  	
   

  
	
  Fields of Use:

  	
   

  	
  “Bioprocessing Market”, meaning the production of cell culture
  products, such as sera, media and supplements, for use by biotechnology and
  pharmaceutical companies.

   

  “Blood Typing Market”,
  meaning the production of monoclonal antibodies to assure blood-type
  compatibility, for use by blood banks and hospital transfusion services.

   

  “Research Market”, meaning
  those individuals in laboratories of academic, government, industrial,
  clinical or other institutions engaged in the investigation of biological
  and/or biochemical processes, and/or research and development of biological
  and/or biochemical products, who determine for themselves that they are
  entitled to purchase and use Licensed Products or kits labeled “For Research
  Use Only - Not for any clinical, therapeutic or diagnostic use in Humans or
  Animals” or a reasonable equivalent.

  
	
   

  	
   

  	
   

  
	
  Scope of License:

  	
   

  	
  A worldwide
  non-exclusive, license (i) to
  use the Licensed Technology for internal business use related to cell culture
  separation and for experiments, developmental work and/or for tests requiring
  the recovery of molecules from solutions containing such molecules and (ii) to
  use the Licensed Technology to manufacture

  

 

 

	
   

  	
   

  	
  products for sale within the
  Fields of Use.

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  Subject
  to early termination for breach, the later of: (a) ten years from the effective
  date and (b) upon the expiration of the last to expire valid claim
  within the Licensed Technology (if applicable).

  
	
   

  	
   

  	
   

  
	
  Royalty Rate:

  	
   

  	
  8% of net sales of products
  manufactured using the Licensed Technology. No royalty is payable with
  respect to the internal use of the Licensed Technology.

  

 

2

 

Schedule 3 – Form of Release

 

MUTUAL LIMITED RELEASE AGREEMENT

 

THIS MUTUAL LIMITED RELEASE
AGREEMENT (this “Release”), dated as of September 27, 2005, by and
among (i) Life Therapeutics Limited (f/k/a Gradipore Limited), a
corporation organized under the laws of the Commonwealth of Australia (the “Company”);
Life Gels, Inc. (f/k/a Gradipore, Inc.), a Delaware
corporation (“LG”); Life Therapeutics, Inc. (f/k/a Life
Therapeutics Plasma Holdings, Inc. and Gradipore Plasma Holdings, Inc.),
a Delaware corporation (“LTI”); LifeSera, Inc., (f/k/a Serologicals
Specialty Biologics, Inc.), a Delaware corporation (“LifeSera”);
Life Therapeutics Nevada, Inc. (f/k/a Serologicals Nevada, Inc.), a Nevada corporation (“Nevada”); Life
Therapeutics Business Trust (f/k/a Serologicals Business Trust), a Nevada business trust (“LBT”); Life
Therapeutics Investments, LLC (f/k/a
Serologicals Investments, LLC), a Georgia limited liability company (“LLC”);
Life Therapeutics Management Partnership, LP (f/k/a Serologicals Management Partnership, LP), a Delaware
limited partnership (“LP”); and Allegheny Biologicals, Inc., a Pennsylvania corporation (“Allegheny”,
and together with the Company, LG, LTI, LifeSera, Nevada, LBT, LLC, and LP, collectively, the “Purchaser
Parties”), on the one hand, and (ii) Serologicals Corporation,
a Delaware corporation (the “Holder Parent”), and Serologicals Finance Company, a
Delaware corporation (“Holder” and together with the Holder Parent,
collectively, the “Holder Parties”), on the other hand.

 

WITNESSETH

 

WHEREAS, LG, the Company,
Holder and the Holder Parent previously entered into that certain Stock
Purchase Agreement dated as of December 19, 2003 as amended by that
certain First Amendment to the Stock Purchase Agreement, dated as of January 15,
2004 (the ”Stock Purchase Agreement”), pursuant to which LTI
purchased (the “Acquisition”) all of the issued and outstanding shares
of capital stock, $0.01 par value per share, of Serologicals Specialty
Biologics, Inc. (the “Common Stock”), from Holder;

 

WHEREAS, pursuant to Section 9.2
of the Stock Purchase Agreement, the Holder Parties, jointly and severally,
agreed to indemnify, protect, and hold harmless the Purchaser Indemnified
Parties (as defined in the Stock Purchase Agreement) from and against any
Purchaser Losses (as defined in the Stock Purchase Agreement);

 

WHEREAS, pursuant to Section 9.4
of the Stock Purchase Agreement, the Company and LG, jointly and severally,
agreed to indemnify, protect, and hold harmless the Holder Indemnified Parties
(as defined in the Stock Purchase Agreement) from and against any Holder Losses
(as defined in the Stock Purchase Agreement);

 

WHEREAS, as consideration for the Common Stock, the Holder received two
promissory notes, the first in the amount of One Million Five Hundred Thousand
Dollars (U.S. $1,500,000.00) (the “Short Term Old Note”) and the second
in the amount of Eleven Million

 

 

Eight Hundred Three Thousand
Eight Hundred Sixty-Seven Dollars (U.S. $11,803,867.00) (the “Long Term
Old Note”, together with the Short Term Old Note, the “Old Notes”);

 

WHEREAS, subject to the
terms and subject to the conditions of that certain Exchange Agreement, dated
the date hereof (the “Exchange Agreement”), by and between the Company
and the Holder, the Holder forgave any outstanding principal plus accrued but
unpaid interest under the Old Notes in consideration for (i) a new secured
promissory note issued by the Releasors in the amount of Seven Million Eight
Hundred Thousand Dollars (U.S. $7,800,000.00) (the “Exchange Note”) and (ii) a
non-exclusive license as described under Article V of the Exchange
Agreement to use certain proprietary technology of the Company (the “Prior
License”).

 

WHEREAS, pursuant to the
Exchange Agreement, the Purchaser Parties and the Holder Parties enter into
that certain Mutual Release Agreement, dated December 17, 2004 (the “Prior
Release”), pursuant to which they, among other things, released certain
claims against one another for indemnity pursuant to the Stock Purchase
Agreement; and

 

WHEREAS, subject to the
terms and subject to the conditions of that certain letter agreement, dated September 27,
2005 (the “Payoff Letter”), by and between the Company and the Holder
Parent, the Holder Parent has agreed to forgive the outstanding principal
amount of the Exchange Note in consideration for the payment of the sum of
money stated therein and certain other accommodations described therein,
including the execution and delivery of this Release.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein set forth and each
act done pursuant hereto, the Purchaser Parties and the Holder Parties,
intending to be legally bound, do hereby represent, warrant, covenant and agree
as follows:

 

ARTICLE I

DEFINITIONS

 

1.1                                 Definitions.  Capitalized terms used and not otherwise defined herein have the meanings assigned
to them in the Stock Purchase Agreement, the Exchange Agreement or the Payoff
Letter (as the case may be).

 

ARTICLE II

RELEASE BY PURCHASER PARTIES

 

2.1                                 Releases.  As consideration for the transactions
contemplated by this Release and the Payoff Letter:

 

(a) The Purchaser Parties,
on behalf of themselves and their respective affiliates, subsidiaries, parents,
directors, officers, agents, principals, representatives, employees, attorneys,
successors, transferees and assigns (collectively, the “Purchaser Releasing
Parties”) hereby fully, unconditionally and completely release, acquit,
discharge, and agree to hold harmless the Holder Parties, their
respective affiliates, subsidiaries, directors, officers, agents, principals,
representatives,
employees, attorneys, successors, transferees and
assigns (hereinafter collectively referred to as “Holder Releasees”)
from any and all claims, liabilities, allegations, actions, offsets

 

2

 

or demands whatsoever which the Purchaser Parties,
or any of them, have or may have against the
Holder Releasees, or any of them, whether
known or unknown, suspected or unsuspected, choate or inchoate, and whenever
they may have arisen from the
beginning of time until the Payoff Date with respect to the Exchange Agreement;
provided, however, that in no event shall this Release, including,
without limitation, any term or condition of this Section 2.1(a) have
applicability to the Prior License.

 

(b) The Purchaser Parties on
behalf of themselves and their respective affiliates, subsidiaries, parents,
directors, officers, agents, principals, representatives, employees, attorneys,
successors, transferees and assigns, hereby fully, unconditionally and
completely ratify and confirm the Prior Release and fully, unconditionally and
completely waive and renounce any right they may have to contest the validity
of the Prior Release for any reason.

 

2.2                                 Further
Assurances. Upon the request of the Holder Releasees, the Purchaser Parties
shall take such additional actions as the Holder Releasees shall reasonably
request, including the execution of documents or instruments reasonably
requested by the Holder Releasees, to more fully evidence the releases given by
the Purchaser Parties pursuant to this Release.

 

ARTICLE III

RELEASE BY HOLDER PARTIES

 

3.1                                 Releases.  As consideration for the transactions
contemplated by this Release and Payoff Letter:

 

(a) The Holder Parties, on
behalf of themselves and their respective affiliates, subsidiaries, parents,
directors, officers, agents, principals, representatives, employees, attorneys,
successors, transferees and assigns (collectively, the “Holder Releasing
Parties”) hereby fully, unconditionally and completely release, acquit,
discharge, and agree to hold harmless the Purchaser Parties,
their respective affiliates, subsidiaries, directors, officers, agents, principals,
representatives,
employees, attorneys, successors, transferees and
assigns (hereinafter collectively referred to as “Purchaser Releasees”)
from any and all claims, liabilities, allegations, actions, offsets or demands
whatsoever which the Holder Parties, or either of them, have or may have against the
Purchaser Releasees, or any of them, whether
known or unknown, suspected or unsuspected, choate or inchoate, and whenever
they may have arisen from the
beginning of time until the Payoff Date with respect to the Exchange Agreement,
the Exchange Note and the Security Agreement; provided, however,
that in no event shall this Release, including, without limitation, any term or
condition of this Section 3.1(a), have applicability to and the Prior
License.

 

(b) The Holder Parties on
behalf of themselves and their respective affiliates, subsidiaries, parents,
directors, officers, agents, principals, representatives, employees, attorneys,
successors, transferees and assigns, hereby fully, unconditionally and
completely ratify and confirm the Prior Release and fully, unconditionally and
completely waive and renounce any right they may have to contest the validity
of the Prior Release for any reason.

 

3

 

3.2                                 Further
Assurances. Upon the request of the Purchaser Releasees, the Holder Parties
shall take such additional actions as the Purchaser Releasees shall reasonably
request, including the execution of documents or instruments reasonably
requested by the Purchaser Releasees, to more fully evidence the releases given
by the Holder Parties pursuant to this Release.

 

ARTICLE IV

MISCELLANEOUS

 

4.1                                 Notices. All notices, demands and
other communications provided for or permitted hereunder or under this Release
shall be made in writing and shall be by registered or certified first-class
mail, return receipt requested, by next day delivery through a recognized
national courier or personal delivery:

 

(a) If to the Purchaser
Parties, to:

 

Life Therapeutics Limited

P.O. Box 6126 Frenchs Forest

22 Rodborough Road

NSW 2086, Australia

Attention:  John Manusu & Hari
Nair

Telecopy:  (612) 9436-2907

 

with a copy to:                                                                                         Smith Moore LLP

One Atlantic Center

1201 W. Peachtree Street

Suite 3700

Atlanta, GA 30309

Attention:  Frank E. McDaniel

Telecopy:  (404) 962-1221

 

(b) if to the Holder Parties, to:

 

Serologicals Corporation

5655 Spalding Drive

Norcross, Georgia  30092

Attention:  Vice President, General
Counsel

 

with a copy to:                                                                                         King & Spalding LLP

191 Peachtree Street, N.E.

Atlanta, Georgia  30303-1763

Attention:  G. Roth Kehoe, Esq.

 

Any such notice,
communication or delivery will be deemed given or made (a) on the fifth
business day after it is mailed by registered or certified mail, (b) on
the first business day

 

4

 

after delivery to an
appropriate customer service representative if sent by next day delivery
through a recognized national courier, or (c) on the date of delivery if
delivered in person.  Any party may
change its address for notice purposes by giving written notice to the other
parties in the manner specified above.

 

4.2                                 Entire Agreement.  This
Release shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors, heirs, executors and
administrators.  The parties may execute
this Release in any number of counterparts, each of which when executed and
delivered, shall be an original, but all of which when taken together shall
constitute one and the same instrument.

 

4.3                                 Survival
of Section 5.12.  The Purchaser
Parties and the Holder Parties hereby acknowledge and agree that,
notwithstanding any provision of this Release or the Prior Release to the
contrary, their respective obligations pursuant to Section 5.12 of the
Stock Purchase Agreement shall survive indefinitely.

 

4.4                                 Governing Law.  This
Release shall be interpreted in accordance with the laws of the State of
Delaware, without regard to any jurisdiction’s conflict of law provisions.

 

 

[signatures follow]

 

5

 

IN WITNESS WHEREOF, the
Purchaser Parties and the Holder Parties have duly executed this Release as of
the day and year first above written.

 

	
   

  	
  PURCHASER PARTIES:

  
	
   

  	
   

  
	
   

  	
  LIFE THERAPEUTICS LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE GELS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE THERAPEUTICS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE SERA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: CFO and Director

  

 

 

	
   

  	
  LIFE THERAPEUTICS NEVADA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE THERAPEUTICS BUSINESS TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE THERAPEUTICS INVESTMENTS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LIFE THERAPEUTICS MANAGEMENT

  
	
   

  	
  PARTNERSHIP, LP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  

 

7

 

	
   

  	
  ALLEGHENY BIOLOGICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. C. H. Nair

  	
   

  
	
   

  	
   

  	
  Name: Dr. C. H. Nair

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HOLDER PARTIES:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SEROLOGICALS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Harold W. Ingalls

  	
   

  
	
   

  	
   

  	
  Name: Harold W. Ingalls

  
	
   

  	
   

  	
  Title: Vice President, Finance and Chief
  Financial

  Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SEROLOGICALS FINANCE COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Harold W. Ingalls

  	
   

  
	
   

  	
   

  	
  Name: Harold W. Ingalls

  
	
   

  	
   

  	
  Title: President

  

 

8

 

Schedule 3 – Termination Statements

 

	
  Old Name of

  Debtor

  	
   

  	
  New
  Name of

  Debtor

  	
   

  	
  Place
  of Filing

  	
   

  	
  Financing

  Statement

  No./Date of

  Filing

  	
   

  	
  Old
  Business

  Address

  	
   

  	
  New
  Business

  Address

  
	
  Serologicals
  Specialty Biologics, Inc.

  	
   

  	
  LifeSera, Inc.

  	
   

  	
  Delaware
  Department of State

  	
   

  	
  40105868

  01/14/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Serologicals
  Nevada, Inc.

  	
   

  	
  Life
  Therapeutics Nevada, Inc.

  	
   

  	
  Nevada
  Secretary of State

  	
   

  	
  2004001589-7

  01/16/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Allegheny
  Biologicals, Inc.

  	
   

  	
  No Change

  	
   

  	
  Pennsylvania
  Secretary of State

  	
   

  	
  20040050136

  01/15/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Serologicals
  Investments, LLC

  	
   

  	
  Life
  Therapeutics Investments, LLC

  	
   

  	
  Georgia
  Secretary of State

  	
   

  	
  060200400609

  01/16/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Serologicals
  Management Partnership, LP

  	
   

  	
  Life
  Therapeutics Management Partnership LP

  	
   

  	
  Delaware
  Department of State

  	
   

  	
  40105942

  01/14/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Serologicals
  Business Trust

  	
   

  	
  Life
  Therapeutics Business Trust

  	
   

  	
  Nevada
  Secretary of State

  	
   

  	
  2004001590-0

  01/16/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Gradipore, Inc.

  	
   

  	
  Life
  Gels, Inc.

  	
   

  	
  Delaware
  Department of State

  	
   

  	
  40105769

  01/14/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021

  
	
  Gradipore
  Plasma Holdings, Inc.

  	
   

  	
  Life
  Therapeutics Plasma Holdings, Inc.

  	
   

  	
  Delaware
  Department of State

  	
   

  	
  40105645

  01/14/04

  	
   

  	
  5655
  Spalding Drive

  Norcross, GA 30092

  	
   

  	
  736 Park
  North Blvd., Suite 100

  Clarkston, GA 30021EXHIBIT 4.5

 

RIGEL PHARMACEUTICALS, INC.,

Issuer

AND

WELLS FARGO BANK, N.A.,

Trustee

 

 

INDENTURE

Dated as of [•], 200   

 

 

Senior Debt Securities

 

 

TABLE OF CONTENTS

 

	
  ARTICLE 1

  	
   

  	
  DEFINITIONS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 1.01

  	
  Definitions of Terms

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 2

  	
   

  	
  ISSUE, DESCRIPTION, TERMS, EXECUTION,
  REGISTRATION AND EXCHANGE OF SECURITIES

  	
   

  
	
   

  	
  Section 2.01

  	
  Designation and Terms of Securities

  	
   

  
	
   

  	
  Section 2.02

  	
  Form of Securities and Trustee’s Certificate

  	
   

  
	
   

  	
  Section 2.03

  	
  Denominations: Provisions for Payment

  	
   

  
	
   

  	
  Section 2.04

  	
  Execution and Authentications

  	
   

  
	
   

  	
  Section 2.05

  	
  Registration of Transfer and Exchange

  	
   

  
	
   

  	
  Section 2.06

  	
  Temporary Securities

  	
   

  
	
   

  	
  Section 2.07

  	
  Mutilated, Destroyed, Lost or Stolen
  Securities

  	
   

  
	
   

  	
  Section 2.08

  	
  Cancellation

  	
   

  
	
   

  	
  Section 2.09

  	
  Benefits of Indenture

  	
   

  
	
   

  	
  Section 2.10

  	
  Authenticating Agent

  	
   

  
	
   

  	
  Section 2.11

  	
  Global Securities

  	
   

  
	
   

  	
   

  
	
  ARTICLE 3

  	
   

  	
  REDEMPTION OF SECURITIES AND SINKING FUND
  PROVISIONS

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 3.01

  	
  Redemption

  	
   

  
	
   

  	
  Section 3.02

  	
  Notice of Redemption

  	
   

  
	
   

  	
  Section 3.03

  	
  Payment Upon Redemption

  	
   

  
	
   

  	
  Section 3.04

  	
  Sinking Fund

  	
   

  
	
   

  	
  Section 3.05

  	
  Satisfaction of Sinking Fund Payments with
  Securities

  	
   

  
	
   

  	
  Section 3.06

  	
  Redemption of Securities for Sinking Fund

  	
   

  
	
   

  	
   

  
	
  ARTICLE 4

  	
   

  	
  COVENANTS

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 4.01

  	
  Payment of Principal, Premium and Interest

  	
   

  
	
   

  	
  Section 4.02

  	
  Maintenance of Office or Agency

  	
   

  
	
   

  	
  Section 4.03

  	
  Paying Agents

  	
   

  
	
   

  	
  Section 4.04

  	
  Appointment to Fill Vacancy in Office of
  Trustee

  	
   

  
	
   

  	
  Section 4.05

  	
  Compliance with Consolidation Provisions

  	
   

  
	
   

  	
   

  
	
  ARTICLE 5

  	
   

  	
  SECURITYHOLDERS’ LISTS AND REPORTS BY THE
  COMPANY AND THE TRUSTEE

  	
   

  
						

 

i

 

	
   

  	
  Section 5.01

  	
  Company to Furnish Trustee Names and
  Addresses of Securityholders

  	
   

  
	
   

  	
  Section 5.02

  	
  Preservation Of Information; Communications
  With Securityholders

  	
   

  
	
   

  	
  Section 5.03

  	
  Reports by the Company

  	
   

  
	
   

  	
  Section 5.04

  	
  Reports by the Trustee

  	
   

  
	
   

  	
   

  
	
  ARTICLE 6

  	
   

  	
  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS
  ON EVENT OF DEFAULT

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 6.01

  	
  Events of Default

  	
   

  
	
   

  	
  Section 6.02

  	
  Collection of Indebtedness and Suits for
  Enforcement by Trustee

  	
   

  
	
   

  	
  Section 6.03

  	
  Application of Moneys Collected

  	
   

  
	
   

  	
  Section 6.04

  	
  Limitation on Suits

  	
   

  
	
   

  	
  Section 6.05

  	
  Rights and Remedies Cumulative; Delay or
  Omission Not Waiver

  	
   

  
	
   

  	
  Section 6.06

  	
  Control by Securityholders

  	
   

  
	
   

  	
  Section 6.07

  	
  Undertaking to Pay Costs

  	
   

  
	
   

  	
   

  
	
  ARTICLE 7

  	
   

  	
  CONCERNING THE TRUSTEE

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 7.01

  	
  Certain Duties and Responsibilities of Trustee

  	
   

  
	
   

  	
  Section 7.02

  	
  Certain Rights of Trustee

  	
   

  
	
   

  	
  Section 7.03

  	
  Trustee Not Responsible for Recitals or
  Issuance or Securities

  	
   

  
	
   

  	
  Section 7.04

  	
  May Hold Securities

  	
   

  
	
   

  	
  Section 7.05

  	
  Moneys Held in Trust

  	
   

  
	
   

  	
  Section 7.06

  	
  Compensation and Reimbursement

  	
   

  
	
   

  	
  Section 7.07

  	
  Reliance on Officers’ Certificate

  	
   

  
	
   

  	
  Section 7.08

  	
  Disqualification; Conflicting Interests

  	
   

  
	
   

  	
  Section 7.09

  	
  Corporate Trustee Required; Eligibility

  	
   

  
	
   

  	
  Section 7.10

  	
  Resignation and Removal; Appointment of
  Successor

  	
   

  
	
   

  	
  Section 7.11

  	
  Acceptance of Appointment By Successor

  	
   

  
	
   

  	
  Section 7.12

  	
  Merger, Conversion, Consolidation or
  Succession to Business

  	
   

  
	
   

  	
  Section 7.13

  	
  Preferential Collection of Claims Against
  the Company

  	
   

  
	
   

  	
  Section 7.14

  	
  Notice of Default

  	
   

  
						

 

ii

 

	
  ARTICLE 8

  	
   

  	
  CONCERNING THE SECURITYHOLDERS

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 8.01

  	
  Evidence of Action by Securityholders

  	
   

  
	
   

  	
  Section 8.02

  	
  Proof of Execution by Securityholders

  	
   

  
	
   

  	
  Section 8.03

  	
  Who May be Deemed Owners

  	
   

  
	
   

  	
  Section 8.04

  	
  Certain Securities Owned by Company
  Disregarded

  	
   

  
	
   

  	
  Section 8.05

  	
  Actions Binding on Future Securityholders

  	
   

  
	
   

  	
   

  
	
  ARTICLE 9

  	
   

  	
  SUPPLEMENTAL INDENTURES

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 9.01

  	
  Supplemental Indentures Without the Consent
  of Securityholders

  	
   

  
	
   

  	
  Section 9.02

  	
  Supplemental Indentures With Consent of
  Securityholders

  	
   

  
	
   

  	
  Section 9.03

  	
  Effect of Supplemental Indentures

  	
   

  
	
   

  	
  Section 9.04

  	
  Securities Affected by Supplemental
  Indentures

  	
   

  
	
   

  	
  Section 9.05

  	
  Execution of Supplemental Indentures

  	
   

  
	
   

  	
   

  
	
  ARTICLE 10

  	
   

  	
  SUCCESSOR ENTITY

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 10.01

  	
  Company May Consolidate, Etc.

  	
   

  
	
   

  	
  Section 10.02

  	
  Successor Entity Substituted

  	
   

  
	
   

  	
  Section 10.03

  	
  Evidence of Consolidation, Etc. to Trustee

  	
   

  
	
   

  	
   

  
	
  ARTICLE 11

  	
   

  	
  SATISFACTION AND DISCHARGE

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 11.01

  	
  Satisfaction and Discharge of Indenture

  	
   

  
	
   

  	
  Section 11.02

  	
  Discharge of Obligations

  	
   

  
	
   

  	
  Section 11.03

  	
  Deposited Moneys to be Held in Trust

  	
   

  
	
   

  	
  Section 11.04

  	
  Payment of Moneys Held by Paying Agents

  	
   

  
	
   

  	
  Section 11.05

  	
  Repayment to Company

  	
   

  
	
   

  	
   

  
	
  ARTICLE 12

  	
   

  	
  IMMUNITY OF INCORPORATORS, STOCKHOLDERS,
  OFFICERS AND DIRECTORS

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 12.01

  	
  No Recourse

  	
   

  
	
   

  	
   

  
	
  ARTICLE 13

  	
   

  	
  MISCELLANEOUS PROVISIONS

  	
   

  
	
   

  	
   

  
	
   

  	
  Section 13.01

  	
  Effect on Successors and Assigns

  	
   

  
	
   

  	
  Section 13.02

  	
  Actions by Successor

  	
   

  
	
   

  	
  Section 13.03

  	
  Surrender of Company Powers

  	
   

  
	
   

  	
  Section 13.04

  	
  Notices

  	
   

  
									

 

iii

 

	
   

  	
  Section 13.05

  	
  Governing Law

  	
   

  
	
   

  	
  Section 13.06

  	
  Treatment of Securities as Debt

  	
   

  
	
   

  	
  Section 13.07

  	
  Certificates and Opinions as to Conditions
  Precedent

  	
   

  
	
   

  	
  Section 13.08

  	
  Payments on Business Days

  	
   

  
	
   

  	
  Section 13.09

  	
  Conflict with Trust Indenture Act

  	
   

  
	
   

  	
  Section 13.10

  	
  Counterparts

  	
   

  
	
   

  	
  Section 13.11

  	
  Separability

  	
   

  
	
   

  	
  Section 13.12

  	
  Compliance Certificates

  	
   

  

 

(1)                                  This
Table of Contents does not constitute part of the Indenture and shall not have
any bearing on the interpretation of any of its terms or provisions.

 

iv

 

INDENTURE

 

Indenture,
dated as of [•], 200  , among RIGEL PHARMACEUTICALS, INC., a Delaware
corporation (the “Company”), and WELLS FARGO
BANK, N.A., as trustee (the “Trustee”):

 

Whereas,
for its lawful corporate purposes, the Company has duly authorized the
execution and delivery of this Indenture to provide for the issuance of debt
securities (hereinafter referred to as the “Securities”), in an unlimited
aggregate principal amount to be issued from time to time in one or more series
as in this Indenture provided, as registered Securities without coupons, to be
authenticated by the certificate of the Trustee;

 

Whereas,
to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the
execution of this Indenture; and

 

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

 

Now,
Therefore, in consideration of the premises and the purchase
of the Securities by the holders thereof, it is mutually covenanted and agreed
as follows for the equal and ratable benefit of the holders of Securities:

 

ARTICLE 1

DEFINITIONS

 

Section
1.01                            Definitions
of Terms.

 

The terms defined in this Section (except as in this Indenture or any
indenture supplemental hereto otherwise expressly provided or unless the
context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in
this Section and shall include the plural as well as the singular.  All other terms used in this Indenture that
are defined in the Trust Indenture Act of 1939, as amended, or that are by
reference in such Act defined in the Securities Act of 1933, as amended (except
as herein or any indenture supplemental hereto otherwise expressly provided or
unless the context otherwise requires), shall have the meanings assigned to
such terms in said Trust Indenture Act and in said Securities Act as in force
at the date of the execution of this instrument.

 

“Authenticating
Agent” means an authenticating agent with respect to all or any
of the series of Securities appointed by the Trustee pursuant to Section 2.10.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar federal or state law for the relief
of debtors.

 

“Board of
Directors” means the Board of Directors of the Company or any
duly authorized committee of such Board.

 

1

 

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

 

“Business Day”
means, with respect to any series of Securities, any day other than a day on
which federal or state banking institutions in the Borough of Manhattan, the
City of New York, or in the city of the Corporate Trust Office of the Trustee,
are authorized or obligated by law, executive order or regulation to close.

 

“Certificate”
means a certificate signed by any Officer. 
The Certificate need not comply with the provisions of Section 13.07.

 

“Company”
means RIGEL PHARMACEUTICALS, INC.,
a corporation duly organized and existing under the laws of the State of
Delaware, and, subject to the provisions of Article Ten, shall also include its
successors and assigns.

 

“Corporate Trust
Office” means the office of the Trustee at which, at any
particular time, its corporate trust business shall be principally
administered, which office at the date hereof is located at Wells Fargo Bank,
N.A., Sixth & Marquette, MAC N9303-120, Minneapolis, MN 55479, except that
whenever a provision herein refers to an office or agency of the Trustee in the
Borough of Manhattan, The City of New York, such office is located, at the date
hereof, at Wells Fargo Corporate Trust, c/o The Depository Trust Company, 1st
Floor - TADS Department, 55 Water Street, New York, NY 10041.

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

 

“Default”
means any event, act or condition that with notice or lapse of time, or both,
would constitute an Event of Default.

 

“Depositary”
means, with respect to Securities of any series for which the Company shall
determine that such Securities will be issued as a Global Security, The
Depository Trust Company, New York, New York, another clearing agency, or any
successor registered as a clearing agency under the Securities and Exchange Act
of 1934, as amended (the “Exchange Act”), or other applicable statute or
regulation, which, in each case, shall be designated by the Company pursuant to
either Section 2.01 or 2.11.

 

“Event of
Default” means, with respect to Securities of a particular series,
any event specified in Section 6.01, continued for the period of time, if any,
therein designated.

 

“Global Security”
means, with respect to any series of Securities, a Security executed by the
Company and delivered by the Trustee to the Depositary or pursuant to the
Depositary’s instruction, all in accordance with the Indenture, which shall be
registered in the name of the Depositary or its nominee.

 

“Governmental
Obligations” means securities that are (a) direct
obligations of the United States of America for the payment of which its full
faith and credit is pledged or (b) obligations

 

2

 

of a Person controlled or supervised by and acting as
an agency or instrumentality of the United States of America, the payment of
which is unconditionally guaranteed as a full faith and credit obligation by
the United States of America that, in either case, are not callable or
redeemable at the option of the issuer thereof at any time prior to the stated
maturity of the Securities, and shall also include a depositary receipt issued
by a bank or trust company as custodian with respect to any such Governmental
Obligation or a specific payment of principal of or interest on any such
Governmental Obligation held by such custodian for the account of the holder of
such depositary receipt; provided, however, that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable
to the holder of such depositary receipt from any amount received by the
custodian in respect of the Governmental Obligation or the specific payment of
principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.

 

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

 

“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 in accordance with the terms hereof.

 

“Interest
Payment Date”, when used with respect to any installment of
interest on a Security of a particular series, means the date specified in such
Security or in a Board Resolution or in an indenture supplemental hereto with
respect to such series as the fixed date on which an installment of interest
with respect to Securities of that series is due and payable.

 

“Officer”
means, with respect to the Company, the chairman of the Board of Directors, a
chief executive officer, a president, a chief financial officer, a chief
operating officer, any executive vice president, any senior vice president, any
vice president, the treasurer or any assistant treasurer, the controller or any
assistant controller or the secretary or any assistant secretary.

 

 “Officers’ Certificate” means a
certificate signed by any two Officers. 
Each such certificate shall include the statements provided for in
Section 13.07, if and to the extent required by the provisions thereof.

 

“Opinion of
Counsel” means an opinion in writing subject to customary
exceptions of legal counsel, who may be an employee of or counsel for the
Company, that is delivered to the Trustee in accordance with the terms
hereof.  Each such opinion shall include
the statements provided for in Section 13.07, if and to the extent required by
the provisions thereof.

 

“Outstanding”,
when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of that
series theretofore authenticated and delivered by the Trustee under this
Indenture, except (a) Securities theretofore canceled by the Trustee or any
paying agent, or delivered to the Trustee or any paying agent for cancellation
or that have previously been canceled; (b) Securities or portions thereof for
the payment or redemption of which moneys or Governmental Obligations in the
necessary amount shall have been deposited in trust with the Trustee or with any
paying agent (other than the

 

3

 

Company) or shall have been set aside and segregated
in trust by the Company (if the Company shall act as its own paying agent);
provided, however, that if such Securities or portions of such Securities are
to be redeemed prior to the maturity thereof, notice of such redemption shall
have been given as in Article Three provided, or provision satisfactory to the
Trustee shall have been made for giving such notice; and (c) Securities in lieu
of or in substitution for which other Securities shall have been authenticated
and delivered pursuant to the terms of Section 2.07.

 

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

 

“Predecessor
Security” of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or
stolen Security shall be deemed to evidence the same debt as the lost,
destroyed or stolen Security.

 

“Responsible
Officer” when used with respect to the Trustee means the
chairman of its board of directors, the chief executive officer, the president,
any vice president, the secretary, the treasurer, any trust officer, any
corporate trust officer or any other officer or assistant officer of the
Trustee customarily performing functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any
corporate trust matter is referred because of his or her knowledge of and
familiarity with the particular subject.

 

“Securities”
means the debt Securities authenticated and delivered under this Indenture.

 

“Securityholder”,
“holder of Securities”, “registered holder”, or other similar term, means the
Person or Persons in whose name or names a particular Security shall be
registered on the books of the Company kept for that purpose in accordance with
the terms of this Indenture.

 

“Security
Register” and “Security Registrar” shall have the meanings as set forth
in Section 2.05.

 

“Subsidiary”
means, with respect to any Person, (i) any corporation at least a majority of
whose outstanding Voting Stock shall at the time be owned, directly or
indirectly, by such Person or by one or more of its Subsidiaries or by such
Person and one or more of its Subsidiaries, (ii) any general partnership, joint
venture or similar entity, at least a majority of whose outstanding partnership
or similar interests shall at the time be owned by such Person, or by one or
more of its Subsidiaries, or by such Person and one or more of its Subsidiaries
and (iii) any limited partnership of which such Person or any of its
Subsidiaries is a general partner.

 

“Trustee”
means Wells Fargo Bank, N.A., and, subject to the provisions of Article Seven,
shall also include its successors and assigns, and, if at any time there is
more than one Person acting in such capacity hereunder, “Trustee” shall mean
each such Person.  The term “Trustee” as
used with respect to a particular series of the Securities shall mean the
trustee with respect to that series.

 

4

 

“Trust Indenture
Act” means the Trust Indenture Act of 1939, as amended.

 

“Voting Stock”,
as applied to stock of any Person, means shares, interests, participations or
other equivalents in the equity interest (however designated) in such Person
having ordinary voting power for the election of a majority of the directors
(or the equivalent) of such Person, other than shares, interests,
participations or other equivalents having such power only by reason of the
occurrence of a contingency.

 

ARTICLE 2

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES

 

Section
2.01                            Designation
and Terms of Securities.

 

(a)                                  The
aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. 
The Securities may be issued in one or more series up to the aggregate
principal amount of Securities of that series from time to time authorized by
or pursuant to a Board Resolution or pursuant to one or more indentures
supplemental hereto.  Prior to the
initial issuance of Securities of any series, there shall be established in or
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental hereto:

 

(1)                                 the
title of the Securities of the series (which shall distinguish the Securities
of that series from all other Securities);

 

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

 

(3)                                 the
date or dates on which the principal of the Securities of the series is
payable, any original issue discount that may apply to the Securities of that
series upon their issuance, the principal amount due at maturity, and the
place(s) of payment;

 

(4)                                 the
rate or rates at which the Securities of the series shall bear interest or the
manner of calculation of such rate or rates, if any;

 

(5)                                 the
date or dates from which such interest shall accrue, the Interest Payment Dates
on which such interest will be payable or the manner of determination of such
Interest Payment Dates, the place(s) of payment, and the record date for the
determination of holders to whom interest is payable on any such Interest
Payment Dates or the manner of determination of such record dates;

 

(6)                                 the
right, if any, to extend the interest payment periods and the duration of such
extension;

 

5

 

(7)                                 the
period or periods within which, the price or prices at which and the terms and
conditions upon which Securities of the series may be redeemed, in whole or in
part, at the option of the Company;

 

(8)                                 the
obligation, if any, of the Company to redeem or purchase Securities of the
series pursuant to any sinking fund, mandatory redemption, or analogous
provisions (including payments made in cash in satisfaction of future sinking
fund obligations) or at the option of a holder thereof and the period or
periods within which, the price or prices at which, and the terms and
conditions upon which, Securities of the series shall be redeemed or purchased,
in whole or in part, pursuant to such obligation;

 

(9)                                 the
form of the Securities of the series including the form of the Certificate of
Authentication for such series;

 

(10)                          if
other than denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, the denominations in which the Securities of the series shall
be issuable;

 

(11)                          any
and all other terms (including terms, to the extent applicable, relating to any
auction or remarketing of the Securities of that series and any security for
the obligations of the Company with respect to such Securities) with respect to
such series (which terms shall not be inconsistent with the terms of this
Indenture, as amended by any supplemental indenture) including any terms which
may be required by or advisable under United States laws or regulations or
advisable in connection with the marketing of Securities of that series;

 

(12)                          whether
the Securities are issuable as a Global Security and, in such case, the terms
and the identity of the Depositary for such series;

 

(13)                          whether
the Securities will be convertible into or exchangeable for shares of common
stock or other securities of the Company or any other Person and, if so, the
terms and conditions upon which such Securities will be so convertible or
exchangeable, including the conversion or exchange price, as applicable, or how
it will be calculated and may be adjusted, any mandatory or optional (at the
Company’s option or the holders’ option) conversion or exchange features, and
the applicable conversion or exchange period;

 

(14)                          if
other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration
of the maturity thereof pursuant to Section 6.01;

 

(15)                          any
additional or different Events of Default or restrictive covenants (which may
include, among other restrictions, restrictions on the Company’s ability or the
ability of the Company’s Subsidiaries to: 
incur additional indebtedness; issue additional securities; create
liens; pay dividends or make distributions in respect of their capital stock;
redeem capital stock; place restrictions on such Subsidiaries placing
restrictions on their ability to pay dividends, make distributions or transfer
assets; make investments or other restricted payments; sell or otherwise
dispose of assets; enter into sale-leaseback transactions; engage in
transactions with stockholders and affiliates; issue or sell stock of their
Subsidiaries; or effect a

 

6

 

consolidation or merger)
or financial covenants (which may include, among other financial covenants,
financial covenants that require the Company and its Subsidiaries to maintain
specified interest coverage, fixed charge, cash flow-based or asset-based
ratios) provided for with respect to the Securities of the series;

 

(16)                          if
other than dollars, the coin or currency in which the Securities of the series
are denominated (including, but not limited to, foreign currency);

 

(17)                          the
terms and conditions, if any, upon which the Company shall pay amounts in
addition to the stated interest, premium, if any and principal amounts of the
Securities of the series to any Securityholder that is not a “United States
person” for federal tax purposes; and

 

(18)                          any
restrictions on transfer, sale or assignment of the Securities of the series.

 

All Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in or
pursuant to any such Board Resolution or in any indentures supplemental hereto.

 

If any of the terms of the series are established by action taken
pursuant to a Board Resolution of the Company, a copy of an appropriate record
of such action shall be certified by the secretary or an assistant secretary of
the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate of the Company setting forth the terms of the series.

 

Securities of any particular series may be issued at various times,
with different dates on which the principal or any installment of principal is
payable, with different rates of interest, if any, or different methods by
which rates of interest may be determined, with different dates on which such
interest may be payable and with different redemption dates.

 

Section
2.02                            Form
of Securities and Trustee’s Certificate.

 

The Securities of any series and the Trustee’s certificate of
authentication to be borne by such Securities shall be substantially of the
tenor and purport as set forth in one or more indentures supplemental hereto or
as provided in a Board Resolution, and set forth in an Officers’ Certificate,
and they may have such letters, numbers or other marks of identification or
designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with
the provisions of this Indenture, or as may be required to comply with any law
or with any rule or regulation made pursuant thereto or with any rule or
regulation of any securities exchange on which Securities of that series may be
listed, or to conform to usage.

 

Section
2.03                            Denominations:
Provisions for Payment.

 

The Securities shall be issuable as registered Securities and in the
denominations of one thousand U.S. dollars ($1,000) or any integral multiple
thereof, subject to Section 2.01(10). 
The Securities of a particular series shall bear interest payable on the
dates and at the rate specified

 

7

 

with respect to that series.  The principal of and the interest on the
Securities of any series, as well as any premium thereon in case of redemption
thereof prior to maturity, shall be payable in the coin or currency of the
United States of America that at the time is legal tender for public and
private debt, at the office or agency of the Company maintained for that
purpose in the Borough of Manhattan, the City and State of New York.  Each Security shall be dated the date of its
authentication.  Interest on the
Securities shall be computed on the basis of a 360-day year composed of twelve
30-day months.

 

The interest installment on any Security that is payable, and is
punctually paid or duly provided for, on any Interest Payment Date for
Securities of that series shall be paid to the Person in whose name said
Security (or one or more Predecessor Securities) is registered at the close of
business on the regular record date for such interest installment.  In the event that any Security of a
particular series or portion thereof is called for redemption and the
redemption date is subsequent to a regular record date with respect to any
Interest Payment Date and prior to such Interest Payment Date, interest on such
Security will be paid upon presentation and surrender of such Security as
provided in Section 3.03.

 

Any interest on any Security that is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date for Securities of the
same series (herein called “Defaulted Interest”) shall forthwith cease to be
payable to the registered holder on the relevant regular record date by virtue
of having been such holder; and such Defaulted Interest shall be paid by the
Company, at its election, as provided in clause (1) or clause (2) below:

 

(1)                                 The
Company may make payment of any Defaulted Interest on Securities to the Persons
in whose names such Securities (or their respective Predecessor Securities) are
registered at the close of business on a special record date for the payment of
such Defaulted Interest, which shall be fixed in the following manner: the
Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Security and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of
money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such
Defaulted Interest as in this clause provided. 
Thereupon the Trustee shall fix a special record date for the payment of
such Defaulted Interest which shall not be more than 15 nor less than 10 days
prior to the date of the proposed payment and not less than 10 days after the
receipt by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company
of such special record date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the
special record date therefor to be mailed, first class postage prepaid, to each
Securityholder at his or her address as it appears in the Security Register (as
hereinafter defined), not less than 10 days prior to such special record
date.  Notice of the proposed payment of
such Defaulted Interest and the special record date therefor having been mailed
as aforesaid, such Defaulted Interest shall be paid to the Persons in whose
names such Securities (or their respective Predecessor Securities) are
registered on such special record date.

 

(2)                                 The
Company may make payment of any Defaulted Interest on any Securities in any
other lawful manner not inconsistent with the requirements of any securities

 

8

 

exchange on which such Securities may be listed, and
upon such notice as may be required by such exchange, if, after notice given by
the Company to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee.

 

Unless otherwise set forth in a Board Resolution or one or more
indentures supplemental hereto establishing the terms of any series of
Securities pursuant to Section 2.01 hereof, the term “regular record date” as
used in this Section with respect to a series of Securities and any Interest
Payment Date for such series shall mean either the fifteenth day of the month
immediately preceding the month in which an Interest Payment Date established
for such series pursuant to Section 2.01 hereof shall occur, if such Interest
Payment Date is the first day of a month, or the first day of the month in
which an Interest Payment Date established for such series pursuant to Section
2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of
a month, whether or not such date is a Business Day.

 

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

 

Section
2.04                            Execution
and Authentications.

 

The Securities shall be signed on behalf of the Company by one of its
Officers.  Signatures may be in the form
of a manual or facsimile signature.

 

The Company may use the facsimile signature of any Person who shall
have been an Officer, notwithstanding the fact that at the time the Securities
shall be authenticated and delivered or disposed of such Person shall have
ceased to be such an officer of the Company. 
The Securities may contain such notations, legends or endorsements
required by law, stock exchange rule or usage. 
Each Security shall be dated the date of its authentication by the
Trustee.

 

A Security shall not be valid until authenticated manually by an
authorized signatory of the Trustee, or by an Authenticating Agent.  Such signature shall be conclusive evidence
that the Security so authenticated has been duly authenticated and delivered
hereunder and that the holder is entitled to the benefits of this
Indenture.  At any time and from time to
time after the execution and delivery of this Indenture, the Company may
deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by an Officer, and the
Trustee in accordance with such written order shall authenticate and deliver
such Securities.

 

In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, the
Trustee shall be entitled to receive, and (subject to Section 7.01) shall be
fully protected in relying upon, an Opinion of Counsel stating that the form
and terms thereof have been established in conformity with the provisions of
this Indenture.

 

The Trustee shall not be required to authenticate such Securities if
the issue of such Securities pursuant to this Indenture will affect the Trustee’s
own rights, duties or immunities

 

9

 

under the Securities and this Indenture or otherwise
in a manner that is not reasonably acceptable to the Trustee.

 

Section
2.05                            Registration
of Transfer and Exchange.

 

(a)                                  Securities
of any series may be exchanged upon presentation thereof at the office or
agency of the Company designated for such purpose in the Borough of Manhattan,
the City and State of New York, for other Securities of such series of
authorized denominations, and for a like aggregate principal amount, upon
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, all as provided in this Section.  In respect of any Securities so surrendered
for exchange, the Company shall execute, the Trustee shall authenticate and
such office or agency shall deliver in exchange therefor the Security or
Securities of the same series that the Securityholder making the exchange shall
be entitled to receive, bearing numbers not contemporaneously outstanding.

 

(b)                                  The
Company shall keep, or cause to be kept, at its office or agency designated for
such purpose in the Borough of Manhattan, the City and State of New York, or
such other location designated by the Company, a register or registers (herein
referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall register the Securities and
the transfers of Securities as in this Article provided and which at all
reasonable times shall be open for inspection by the Trustee.  The registrar for the purpose of registering
Securities and transfer of Securities as herein provided shall be appointed as
authorized by Board Resolution (the “Security Registrar”).

 

Upon surrender for transfer of any Security at the office or agency of
the Company designated for such purpose, the Company shall execute, the Trustee
shall authenticate and such office or agency shall deliver in the name of the
transferee or transferees a new Security or Securities of the same series as
the Security presented for a like aggregate principal amount.

 

All Securities presented or surrendered for exchange or registration of
transfer, as provided in this Section, shall be accompanied (if so required by
the Company or the Security Registrar) by a written instrument or instruments
of transfer, in form satisfactory to the Company or the Security Registrar,
duly executed by the registered holder or by such holder’s duly authorized
attorney in writing.

 

(c)                                  Except
as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set
forth in an Officers’ Certificate, or established in one or more indentures
supplemental to this Indenture, no service charge shall be made for any
exchange or registration of transfer of Securities, or issue of new Securities
in case of partial redemption of any series, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, other than exchanges pursuant to Section 2.06, Section
3.03(b) and Section 9.04 not involving any transfer.

 

(d)                                  The
Company shall not be required (i) to issue, exchange or register the transfer
of any Securities during a period beginning at the opening of business 15 days
before the day of the mailing of a notice of redemption of less than all the
Outstanding Securities of the same series and ending at the close of business
on the day of such mailing, nor (ii) to register the

 

10

 

transfer of or exchange any Securities of any series
or portions thereof called for redemption, other than the unredeemed portion of
any such Securities being redeemed in part. 
The provisions of this Section 2.05 are, with respect to any Global
Security, subject to Section 2.11 hereof.

 

Section
2.06                            Temporary
Securities.

 

Pending the preparation of definitive Securities of any series, the
Company may execute, and the Trustee shall authenticate and deliver, temporary
Securities (printed, lithographed or typewritten) of any authorized
denomination.  Such temporary Securities
shall be substantially in the form of the definitive Securities in lieu of
which they are issued, but with such omissions, insertions and variations as
may be appropriate for temporary Securities, all as may be determined by the
Company.  Every temporary Security of any
series shall be executed by the Company and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities of such series.  Without unnecessary delay the Company will
execute and will furnish definitive Securities of such series and thereupon any
or all temporary Securities of such series may be surrendered in exchange
therefor (without charge to the holders), at the office or agency of the
Company designated for the purpose in the Borough of Manhattan, the City and
State of New York, and the Trustee shall authenticate and such office or agency
shall deliver in exchange for such temporary Securities an equal aggregate
principal amount of definitive Securities of such series, unless the Company advises
the Trustee to the effect that definitive Securities need not be executed and
furnished until further notice from the Company.  Until so exchanged, the temporary Securities
of such series shall be entitled to the same benefits under this Indenture as
definitive Securities of such series authenticated and delivered hereunder.

 

Section
2.07                            Mutilated,
Destroyed, Lost or Stolen Securities.

 

In case any temporary or definitive Security shall become mutilated or
be destroyed, lost or stolen, the Company (subject to the next succeeding
sentence) shall execute, and upon the Company’s request the Trustee (subject as
aforesaid) shall authenticate and deliver, a new Security of the same series,
bearing a number not contemporaneously outstanding, in exchange and substitution
for the mutilated Security, or in lieu of and in substitution for the Security
so destroyed, lost or stolen.  In every
case the applicant for a substituted Security shall furnish to the Company and
the Trustee such security or indemnity as may be required by them to save each
of them harmless, and, in every case of destruction, loss or theft, the
applicant shall also furnish to the Company and the Trustee evidence to their
satisfaction of the destruction, loss or theft of the applicant’s Security and
of the ownership thereof.  The Trustee
may authenticate any such substituted Security and deliver the same upon the
written request or authorization of any officer of the Company.  Upon the issuance of any substituted
Security, the Company may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Trustee) connected
therewith.

 

In case any Security that has matured or is about to mature shall
become mutilated or be destroyed, lost or stolen, the Company may, instead of
issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the applicant
for such payment shall furnish to the Company and the Trustee such

 

11

 

security or indemnity as they may require to save them
harmless, and, in case of destruction, loss or theft, evidence to the satisfaction
of the Company and the Trustee of the destruction, loss or theft of such
Security and of the ownership thereof.

 

Every replacement Security issued pursuant to the provisions of this
Section shall constitute an additional contractual obligation of the Company
whether or not the mutilated, destroyed, lost or stolen Security shall be found
at any time, or be enforceable by anyone, and shall be entitled to all the
benefits of this Indenture equally and proportionately with any and all other
Securities of the same series duly issued hereunder.  All Securities shall be held and owned upon
the express condition that the foregoing provisions are exclusive with respect
to the replacement or payment of mutilated, destroyed, lost or stolen
Securities, and shall preclude (to the extent lawful) any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted
to the contrary with respect to the replacement or payment of negotiable
instruments or other securities without their surrender.

 

Section
2.08                            Cancellation.

 

All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or
any paying agent, be delivered to the Trustee for cancellation, or, if surrendered
to the Trustee, shall be cancelled by it, and no Securities shall be issued in
lieu thereof except as expressly required or permitted by any of the provisions
of this Indenture.  On request of the
Company at the time of such surrender, the Trustee shall deliver to the Company
canceled Securities held by the Trustee. 
In the absence of such request the Trustee may dispose of canceled
Securities in accordance with its standard procedures and deliver a certificate
of disposition to the Company.  If the
Company shall otherwise acquire any of the Securities, however, 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.

 

Section
2.09                            Benefits
of Indenture.

 

Nothing in this Indenture or in the Securities, express or implied,
shall give or be construed to give to any Person, other than the parties hereto
and the holders of the Securities any legal or equitable right, remedy or claim
under or in respect of this Indenture, or under any covenant, condition or
provision herein contained; all such covenants, conditions and provisions being
for the sole benefit of the parties hereto and of the holders of the
Securities.

 

Section
2.10                            Authenticating
Agent.

 

So long as any of the Securities of any series remain Outstanding there
may be an Authenticating Agent for any or all such series of Securities which
the Trustee shall have the right to appoint. 
Said Authenticating Agent shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series issued upon exchange,
transfer or partial redemption thereof, and Securities so authenticated shall
be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as if authenticated by the Trustee hereunder.  All references in this Indenture to the
authentication of Securities by the Trustee shall be deemed to include
authentication by an Authenticating Agent for such series.  Each Authenticating Agent

 

12

 

shall be acceptable to the Company and shall be a
corporation that has a combined capital and surplus, as most recently reported
or determined by it, sufficient under the laws of any jurisdiction under which
it is organized or in which it is doing business to conduct a trust business,
and that is otherwise authorized under such laws to conduct such business and
is subject to supervision or examination by federal or state authorities.  If at any time any Authenticating Agent shall
cease to be eligible in accordance with these provisions, it shall resign
immediately.

 

Any Authenticating Agent may at any time resign by giving written
notice of resignation to the Trustee and to the Company.  The Trustee may at any time (and upon request
by the Company shall) terminate the agency of any Authenticating Agent by
giving written notice of termination to such Authenticating Agent and to the
Company.  Upon resignation, termination
or cessation of eligibility of any Authenticating Agent, the Trustee may
appoint an eligible successor Authenticating Agent acceptable to the
Company.  Any successor Authenticating
Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder as if originally
named as an Authenticating Agent pursuant hereto.

 

Section
2.11                            Global
Securities.

 

(a)                                  If
the Company shall establish pursuant to Section 2.01 that the Securities of a
particular series are to be issued as a Global Security, then the Company shall
execute and the Trustee shall, in accordance with Section 2.04, authenticate
and deliver, a Global Security that (i) shall represent, and shall be
denominated in an amount equal to the aggregate principal amount of, all of the
Outstanding Securities of such series, (ii) shall be registered in the name of
the Depositary or its nominee, (iii) shall be delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a
legend substantially to the following effect: “Except as otherwise provided in
Section 2.11 of the Indenture, this Security may be transferred, in whole but
not in part, only to another nominee of the Depositary or to a successor
Depositary or to a nominee of such successor Depositary.”

 

(b)                                  Notwithstanding
the provisions of Section 2.05, the Global Security of a series may be
transferred, in whole but not in part and in the manner provided in Section
2.05, only to another nominee of the Depositary for such series, or to a
successor Depositary for such series selected or approved by the Company or to
a nominee of such successor Depositary.

 

(c)                                  If
at any time the Depositary for a series of the Securities notifies the Company
that it is unwilling or unable to continue as Depositary for such series or if
at any time the Depositary for such series shall no longer be registered or in
good standing under the Exchange Act, or other applicable statute or
regulation, and a successor Depositary for such series is not appointed by the
Company within 90 days after the Company receives such notice or becomes aware
of such condition, as the case may be, or if an Event of Default has occurred
and is continuing and the Company has received a request from the Depositary,
this Section 2.11 shall no longer be applicable to the Securities of such
series and the Company will execute, and subject to Section 2.04, the Trustee
will authenticate and deliver the Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an
aggregate principal amount equal to the principal amount of the Global Security
of such series in exchange

 

13

 

for such Global Security.  In addition, the Company may at any time
determine that the Securities of any series shall no longer be represented by a
Global Security and that the provisions of this Section 2.11 shall no longer
apply to the Securities of such series. 
In such event the Company will execute and, subject to Section 2.04, the
Trustee, upon receipt of an Officers’ Certificate evidencing such determination
by the Company, will authenticate and deliver the Securities of such series in
definitive registered form without coupons, in authorized denominations, and in
an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security.  Upon the exchange of the Global Security for
such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee.  Such Securities in definitive registered form
issued in exchange for the Global Security pursuant to this Section 2.11(c)
shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee. 
The Trustee shall deliver such Securities to the Depositary for delivery
to the Persons in whose names such Securities are so registered.

 

ARTICLE 3

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

 

Section
3.01                            Redemption.

 

The Company may redeem the Securities of any series issued hereunder on
and after the dates and in accordance with the terms established for such
series pursuant to Section 2.01 hereof.

 

Section
3.02                            Notice
of Redemption.

 

(a)          In
case the Company shall desire to exercise such right to redeem all or, as the
case may be, a portion of the Securities of any series in accordance with any
right the Company reserved for itself to do so pursuant to Section 2.01
hereof, the Company shall, or shall cause the Trustee to, give notice of such
redemption to holders of the Securities of such series to be redeemed by
mailing, first class postage prepaid, a notice of such redemption not less than
30 days and not more than 90 days before the date fixed for redemption of that
series to such holders at their last addresses as they shall appear upon the
Security Register, unless a shorter period is specified in the Securities to be
redeemed.  Any notice that is mailed in
the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the registered holder receives the notice.  In any case, failure duly to give such notice
to the holder of any Security of any series designated for redemption in whole
or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any
other series.  In the case of any
redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with any such restriction.

 

Each such notice of redemption shall specify the date fixed for
redemption and the redemption price at which Securities of that series are to
be redeemed, and shall state that

 

14

 

payment of the redemption price of such Securities to
be redeemed will be made at the office or agency of the Company in the Borough
of Manhattan, the City and State of New York, upon presentation and surrender
of such Securities, that interest accrued to the date fixed for redemption will
be paid as specified in said notice, that from and after said date interest
will cease to accrue and that the redemption is for a sinking fund, if such is
the case.  If less than all the
Securities of a series are to be redeemed, the notice to the holders of
Securities of that series to be redeemed in part shall specify the particular
Securities to be so redeemed.

 

In case any Security is to be redeemed in part only, the notice that
relates to such Security shall state the portion of the principal amount
thereof to be redeemed, and shall state that on and after the redemption date,
upon surrender of such Security, a new Security or Securities of such series in
principal amount equal to the unredeemed portion thereof will be issued.

 

(b)                                  If
less than all the Securities of a series are to be redeemed, the Company shall
give the Trustee at least 45 days’ notice (unless a shorter notice shall be
satisfactory to the Trustee) in advance of the date fixed for redemption as to
the aggregate principal amount of Securities of the series to be redeemed, and
thereupon the Trustee shall select, by lot or in such other manner as it shall
deem appropriate and fair in its discretion and that may provide for the
selection of a portion or portions (equal to one thousand U.S. dollars ($1,000)
or any integral multiple thereof) of the principal amount of such Securities of
a denomination larger than $1,000, the Securities to be redeemed and shall
thereafter promptly notify the Company in writing of the numbers of the
Securities to be redeemed, in whole or in part. 
The Company may, if and whenever it shall so elect, by delivery of
instructions signed on its behalf by an Officer, instruct the Trustee or any
paying agent to call all or any part of the Securities of a particular series
for redemption and to give notice of redemption in the manner set forth in this
Section, such notice to be in the name of the Company or its own name as the
Trustee or such paying agent may deem advisable.  In any case in which notice of redemption is
to be given by the Trustee or any such paying agent, the Company shall deliver
or cause to be delivered to, or permit to remain with, the Trustee or such
paying agent, as the case may be, such Security Register, transfer books or
other records, or suitable copies or extracts therefrom, sufficient to enable
the Trustee or such paying agent to give any notice by mail that may be
required under the provisions of this Section.

 

Section
3.03                            Payment
Upon Redemption.

 

(a)                                  If
the giving of notice of redemption shall have been completed as above provided,
the Securities or portions of Securities of the series to be redeemed specified
in such notice shall become due and payable on the date and at the place stated
in such notice at the applicable redemption price, together with interest
accrued to the date fixed for redemption and interest on such Securities or
portions of Securities shall cease to accrue on and after the date fixed for
redemption, unless the Company shall default in the payment of such redemption
price and accrued interest with respect to any such Security or portion
thereof.  On presentation and surrender
of such Securities on or after the date fixed for redemption at the place of
payment specified in the notice, said Securities shall be paid and redeemed at
the applicable redemption price for such series, together with interest accrued
thereon to the date fixed for redemption (but if the date fixed for redemption
is an interest payment date, the interest installment payable on such date
shall be payable to the registered holder at the close of business on the
applicable record date pursuant to Section 2.03).

 

15

 

(b)                                  Upon
presentation of any Security of such series that is to be redeemed in part
only, the Company shall execute and the Trustee shall authenticate and the
office or agency where the Security is presented shall deliver to the holder
thereof, at the expense of the Company, a new Security of the same series of
authorized denominations in principal amount equal to the unredeemed portion of
the Security so presented.

 

Section
3.04                            Sinking
Fund.

 

The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to
any sinking fund for the retirement of Securities of a series, except as
otherwise specified as contemplated by Section 2.01 for Securities of such
series.

 

The minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a “mandatory sinking
fund payment,” and any payment in excess of such minimum amount provided for by
the terms of Securities of any series is herein referred to as an “optional
sinking fund payment”.  If provided for
by the terms of Securities of any series, the cash amount of any sinking fund
payment may be subject to reduction as provided in Section 3.05.  Each sinking fund payment shall be applied to
the redemption of Securities of any series as provided for by the terms of
Securities of such series.

 

Section
3.05                            Satisfaction
of Sinking Fund Payments with Securities.

 

The Company (i) may deliver Outstanding Securities of a series and (ii)
may apply as a credit Securities of a series that have been redeemed either at
the election of the Company pursuant to the terms of such Securities or through
the application of permitted optional sinking fund payments pursuant to the
terms of such Securities, in each case in satisfaction of all or any part of
any sinking fund payment with respect to the Securities of such series required
to be made pursuant to the terms of such Securities as provided for by the
terms of such series, provided that such Securities have not been previously so
credited.  Such Securities shall be
received and credited for such purpose by the Trustee at the redemption price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section
3.06                            Redemption
of Securities for Sinking Fund.

 

Not less than 45 days prior to each sinking fund payment date for any
series of Securities (unless a shorter period shall be satisfactory to the
Trustee), the Company will deliver to the Trustee an Officers’ Certificate
specifying the amount of the next ensuing sinking fund payment for that series
pursuant to the terms of the series, the portion thereof, if any, that is to be
satisfied by delivering and crediting Securities of that series pursuant to
Section 3.05 and the basis for such credit and will, together with such
Officers’ Certificate, deliver to the Trustee any Securities to be so
delivered.  Not less than 30 days before
each such sinking fund payment date the Trustee shall select the Securities to
be redeemed upon such sinking fund payment date in the manner specified in
Section 3.02 and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in Section
3.02.  Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in
the manner stated in Section 3.03.

 

16

 

ARTICLE 4

COVENANTS

 

Section
4.01                            Payment
of Principal, Premium and Interest.

 

The Company will duly and punctually pay or cause to be paid the
principal of (and premium, if any) and interest on the Securities of that
series at the time and place and in the manner provided herein and established
with respect to such Securities. 
Payments of principal on the Securities may be made at the time provided
herein and established with respect to such Securities by U.S. dollar check
drawn on and mailed to the address of the Securityholder entitled thereto as
such address shall appear in the Security Register, or U.S. dollar wire
transfer to, a U.S. dollar account (such wire transfer to be made only to a
Securityholder of an aggregate principal amount of Securities of the applicable
series in excess of U.S. $2,000,000 and only if such Securityholder shall have
furnished wire instructions to the Trustee no later than 15 days prior to the
relevant payment date).  Payments of
interest on the Securities may be made at the time provided herein and
established with respect to such Securities by U.S. dollar check mailed to the
address of the Securityholder entitled thereto as such address shall appear in
the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account
(such a wire transfer to be made only to a Securityholder of an aggregate
principal amount of Securities of the applicable series in excess of U.S.
$2,000,000 and only if such Securityholder shall have furnished wire
instructions in writing to the Security Registrar and the Trustee no later than
15 days prior to the relevant payment date.

 

Section
4.02                            Maintenance
of Office or Agency.

 

So long as any series of the Securities remain Outstanding, the Company
agrees to maintain an office or agency in the Borough of Manhattan, the City
and State of New York, with respect to each such series and at such other
location or locations as may be designated as provided in this Section 4.02,
where (i) Securities of that series may be presented for payment, (ii)
Securities of that series may be presented as herein above authorized for
registration of transfer and exchange, and (iii) notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may
be given or served, such designation to continue with respect to such office or
agency until the Company shall, by written notice signed by any officer
authorized to sign an Officers’ Certificate and delivered to the Trustee,
designate some other office or agency for such purposes or any of them.  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, notices and demands may
be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations,
notices and demands.  The Company
initially appoints the Corporate Trust Office of the Trustee located in the
Borough of Manhattan, the City of New York as its paying agent with respect to
the Securities.

 

Section
4.03                            Paying
Agents.

 

(a)          If
the Company shall appoint one or more paying agents for all or any series of
the Securities, other than the Trustee, the Company will cause each such paying
agent to execute

 

17

 

and deliver to the
Trustee an instrument in which such agent shall agree with the Trustee, subject
to the provisions of this Section:

 

(1)                                 that
it will hold all sums held by it as such agent for the payment of the principal
of (and premium, if any) or interest on the Securities of that series (whether
such sums have been paid to it by the Company or by any other obligor of such
Securities) in trust for the benefit of the Persons entitled thereto;

 

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

 

(3)                                 that
it will, at any time during the continuance of any failure referred to in the
preceding paragraph (a)(2) above, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such paying agent;
and

 

(4)                                 that
it will perform all other duties of paying agent as set forth in this
Indenture.

 

(b)                                  If
the Company shall act as its own paying agent with respect to any series of the
Securities, it will on or before each due date of the principal of (and
premium, if any) or interest on Securities of that series, set aside, segregate
and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay such principal (and premium, if any) or interest so becoming
due on Securities of that series until such sums shall be paid to such Persons
or otherwise disposed of as herein provided and will promptly notify the
Trustee of such action, or any failure (by it or any other obligor on such
Securities) to take such action. 
Whenever the Company shall have one or more paying agents for any series
of Securities, it will, prior to each due date of the principal of (and premium,
if any) or interest on any Securities of that series, deposit with the paying
agent a sum sufficient to pay the principal (and premium, if any) or interest
so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such paying agent
is the Trustee) the Company will promptly notify the Trustee of this action or
failure so to act.

 

(c)                                  Notwithstanding
anything in this Section to the contrary, (i) the agreement to hold sums in
trust as provided in this Section is subject to the provisions of Section
11.05, and (ii) the Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or
direct any paying agent to pay, to the Trustee all sums held in trust by the
Company or such paying agent, such sums to be held by the Trustee upon the same
terms and conditions as those upon which such sums were held by the Company or
such paying agent; 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 money.

 

18

 

Section
4.04                            Appointment
to Fill Vacancy in Office of Trustee.

 

The Company, whenever necessary to avoid or fill a vacancy in the
office of Trustee, will appoint, in the manner provided in Section 7.10, a
Trustee, so that there shall at all times be a Trustee hereunder.

 

Section
4.05                            Compliance
with Consolidation Provisions.

 

The Company will not, while any of the Securities remain Outstanding,
consolidate with or merge into any other Person, in either case where the
Company is not the survivor of such transaction, or sell or convey all or
substantially all of its property to any other Person unless the provisions of
Article Ten hereof are complied with.

 

ARTICLE 5

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

 

Section
5.01                            Company
to Furnish Trustee Names and Addresses of Securityholders.

 

The Company will furnish or cause to be furnished to the Trustee (a)
within 15 days after each regular record date (as defined in Section 2.03) a
list, in such form as the Trustee may reasonably require, of the names and
addresses of the holders of each series of Securities as of such regular record
date, provided that the Company shall not be obligated to furnish or cause to
furnish such list at any time that the list shall not differ in any respect
from the most recent list furnished to the Trustee by the Company and (b) at
such other times as the Trustee may request in writing within 30 days after the
receipt by the Company of any such request, a list of similar form and content
as of a date not more than 15 days prior to the time such list is furnished;
provided, however, that, in either case, no such list need be furnished for any
series for which the Trustee shall be the Security Registrar .

 

Section
5.02                            Preservation
Of Information; Communications With Securityholders.

 

(a)                                  The
Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the holders of Securities
contained in the most recent list furnished to it as provided in Section 5.01
and as to the names and addresses of holders of Securities received by the
Trustee in its capacity as Security Registrar (if acting in such capacity).

 

(b)                                  The
Trustee may destroy any list furnished to it as provided in Section 5.01
upon receipt of a new list so furnished.

 

(c)                                  Securityholders
may communicate as provided in Section 312(b) of the Trust Indenture Act with
other Securityholders with respect to their rights under this Indenture or
under the Securities, and, in connection with any such communications, the Trustee
shall satisfy

 

19

 

its obligations under Section 312(b) of the Trust
Indenture Act in accordance with the provisions of Section 312(b) of the Trust
Indenture Act.

 

Section
5.03                            Reports
by the Company.

 

The Company covenants and agrees to provide a copy to the Trustee,
after the Company is required to file the same with the Securities and Exchange
Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the
Securities and Exchange Commission may from time to time by rules and
regulations prescribe) that the Company may be required to file with the
Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of
the Exchange Act.

 

Section
5.04                            Reports
by the Trustee.

 

(a)                                  If
required by Section 313(a) of the Trust Indenture Act, the Trustee, within
sixty (60) days after each May 1, shall transmit by mail, first class postage
prepaid, to the Securityholders, as their names and addresses appear upon the
Security Register, a brief report dated as of such May 1, which complies with
Section 313(a) of the Trust Indenture Act.

 

(b)                                  The
Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act.

 

(c)                                  A
copy of each such report shall, at the time of such transmission to
Securityholders, be filed by the Trustee with the Company, with each securities
exchange upon which any Securities are listed (if so listed) and also with the
Securities and Exchange Commission.  The
Company agrees to notify the Trustee when any Securities become listed on any
securities exchange.

 

ARTICLE 6

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

 

Section
6.01                            Events
of Default.

 

(a)                                  Whenever
used herein with respect to Securities of a particular series, “Event of
Default” means any one or more of the following events that has occurred and is
continuing:

 

(1)                                 the
Company defaults in the payment of any installment of interest upon any of the
Securities of that series, as and when the same shall become due and payable,
and such default continues for a period of 90 days; provided, however, that a
valid extension of an interest payment period by the Company in accordance with
the terms of any indenture supplemental hereto shall not constitute a default
in the payment of interest for this purpose;

 

(2)                                 the
Company defaults in the payment of the principal of (or premium, if any, on)
any of the Securities of that series as and when the same shall become due

 

20

 

and payable whether at maturity, upon redemption, by
declaration or otherwise, or in any payment required by any sinking or
analogous fund established with respect to that series; provided, however, that
a valid extension of the maturity of such Securities in accordance with the
terms of any indenture supplemental hereto shall not constitute a default in
the payment of principal or premium, if any;

 

(3)                                 the
Company fails to observe or perform any other of its covenants or agreements
with respect to that series contained in this Indenture or otherwise
established with respect to that series of Securities pursuant to Section 2.01
hereof (other than a covenant or agreement that has been expressly included in
this Indenture solely for the benefit of one or more series of Securities other
than such series) for a period of 90 days after the date on which written
notice of such failure, requiring the same to be remedied and stating that such
notice is a “Notice of Default” hereunder, shall have been given to the Company
by the Trustee, by registered or certified mail, or to the Company and the
Trustee by the holders of at least 25% in principal amount of the Securities of
that series at the time Outstanding;

 

(4)                                 the
Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a
voluntary case, (ii) consents to the entry of an order for relief against it in
an involuntary case, (iii) consents to the appointment of a Custodian of it or
for all or substantially all of its property or (iv) makes a general assignment
for the benefit of its creditors; or

 

(5)                                 a
court of competent jurisdiction enters an order under any Bankruptcy Law that
(i) is for relief against the Company in an involuntary case, (ii) appoints a
Custodian of the Company for all or substantially all of its property or (iii)
orders the liquidation of the Company, and the order or decree remains unstayed
and in effect for 90 days.

 

(b)                                  In
each and every such case (other than an Event of Default specified in clause
(4) or clause (5) above), unless the principal of all the Securities of that
series shall have already become due and payable, either the Trustee or the
holders of not less than 25% in aggregate principal amount of the Securities of
that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by such Securityholders), may declare the
principal of (and premium, if any, on) and accrued and unpaid interest on all
the Securities of that series to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and
payable.  If an Event of Default
specified in clause (4) or clause (5) above occurs, the principal of and
accrued and unpaid interest on all the Securities of that series shall
automatically be immediately due and payable without any declaration or other
act on the part of the Trustee or the holders of the Securities.

 

(c)                                  At
any time after the principal of (and premium, if any, on) and accrued and
unpaid interest on the Securities of that series shall have been so declared
due and payable, and before any judgment or decree for the payment of the
moneys due shall have been obtained or entered as hereinafter provided, the
holders of a majority in aggregate principal amount of the Securities of that
series then Outstanding hereunder, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if: (i)
the Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all

 

21

 

Securities of that series that shall have become due
otherwise than by acceleration (with interest upon such principal and premium,
if any, and, to the extent that such payment is enforceable under applicable
law, upon overdue installments of interest, at the rate per annum expressed in
the Securities of that series to the date of such payment or deposit) and the
amount payable to the Trustee under Section 7.06, and (ii) any and all Events
of Default under the Indenture with respect to such series, other than the
nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest
on Securities of that series that shall not have become due by their terms,
shall have been remedied or waived as provided in Section 6.06.

 

No such rescission and annulment shall extend to or shall affect any
subsequent default or impair any right consequent thereon.

 

(d)                                  In
case the Trustee shall have proceeded to enforce any right with respect to
Securities of that series under this Indenture and such proceedings shall have
been discontinued or abandoned because of such rescission or annulment or for
any other reason or shall have been determined adversely to the Trustee, then
and in every such case, subject to any determination in such proceedings, the
Company and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Company and the Trustee shall continue as though no such proceedings had been
taken.

 

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

 

(a)                                  The
Company covenants that (i) in case it shall default in the payment of any
installment of interest on any of the Securities of a series, or in any payment
required by any sinking or analogous fund established with respect to that
series as and when the same shall have become due and payable, and such default
shall have continued for a period of 90 Business Days, or (ii) in case it
shall default in the payment of the principal of (or premium, if any, on) any
of the Securities of a series when the same shall have become due and payable,
whether upon maturity of the Securities of a series or upon redemption or upon
declaration or otherwise then, upon demand of the Trustee, the Company will pay
to the Trustee, for the benefit of the holders of the Securities of that
series, the whole amount that then shall have been become due and payable on
all such Securities for principal (and premium, if any) or interest, or both,
as the case may be, with interest upon the overdue principal (and premium, if
any) and (to the extent that payment of such interest is enforceable under
applicable law) upon overdue installments of interest at the rate per annum
expressed in the Securities of that series; and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of collection,
and the amount payable to the Trustee under Section 7.06.

 

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

 

22

 

(c)                                  In
case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the
Company, or its creditors or property, the Trustee shall have power to
intervene in such proceedings and take any action therein that may be permitted
by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary
or advisable in order to have the claims of the Trustee and of the holders of
Securities of such series allowed for the entire amount due and payable by the
Company under the Indenture at the date of institution of such proceedings and
for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or
deliverable on any such claim, and to distribute the same after the deduction
of the amount payable to the Trustee under Section 7.06; and any receiver,
assignee or trustee in bankruptcy or reorganization is hereby authorized by
each of the holders of Securities of such series to make such payments to the
Trustee, and, in the event that the Trustee shall consent to the making of such
payments directly to such Securityholders, to pay to the Trustee any amount due
it under Section 7.06.

 

(d)                                  All
rights of action and of asserting claims under this Indenture, or under any of
the terms established with respect to Securities of that series, may be
enforced by the Trustee without the possession of any of such Securities, or
the production thereof at any trial or other proceeding relative thereto, and
any such suit or proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall,
after provision for payment to the Trustee of any amounts due under Section
7.06, be for the ratable benefit of the holders of the Securities of such
series.

 

In case of an Event of Default hereunder, the Trustee may in its
discretion proceed to protect and enforce the rights vested in it by this
Indenture by such appropriate judicial proceedings as the Trustee shall deem
most effectual to protect and enforce any of such rights, either at law or in
equity or in bankruptcy or otherwise, whether for the specific enforcement of
any covenant or agreement contained in the Indenture or in aid of the exercise
of any power granted in this Indenture, or to enforce any other legal or
equitable right vested in the Trustee by this Indenture or by law.

 

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

 

Section
6.03                            Application
of Moneys Collected.

 

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

 

23

 

FIRST: To the payment of reasonable costs and expenses of collection
and of all amounts payable to the Trustee under Section 7.06;

 

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

 

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

 

Section
6.04                            Limitation
on Suits.

 

No holder of any Security of any series shall have any right by virtue
or by availing of any provision of this Indenture to institute any suit, action
or proceeding in equity or at law upon or under or with respect to this
Indenture or for the appointment of a receiver or trustee, or for any other
remedy hereunder, unless (i) such holder previously shall have given to the
Trustee written notice of an Event of Default and of the continuance thereof
with respect to the Securities of such series specifying such Event of Default,
as hereinbefore provided; (ii) the holders of not less than 25% in aggregate
principal amount of the Securities of such series then Outstanding shall have
made written request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder; (iii) such holder or holders
shall have offered to the Trustee such reasonable indemnity as it may require
against the costs, expenses and liabilities to be incurred therein or thereby;
(iv) the Trustee for 90 days after its receipt of such notice, request and
offer of indemnity, shall have failed to institute any such action, suit or
proceeding and (v) during such 90 day period, the holders of a majority in
principal amount of the Securities of that series do not give the Trustee a
direction inconsistent with the request.

 

Notwithstanding anything contained herein to the contrary or any other
provisions of this Indenture, the right of any holder of any Security to
receive payment of the principal of (and premium, if any) and interest on such
Security, as therein provided, on or after the respective due dates expressed
in such Security (or in the case of redemption, on the redemption date), or to
institute suit for the enforcement of any such payment on or after such
respective dates or redemption date, shall not be impaired or affected without
the consent of such holder and by accepting a Security hereunder it is
expressly understood, intended and covenanted by the taker and holder of every
Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right
in any manner whatsoever by virtue or by availing of any provision of this
Indenture to affect, disturb or prejudice the rights of the holders of any
other of such Securities, or to obtain or seek to obtain priority over or
preference to any other such holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all holders of Securities of such series.  For the protection and enforcement of the
provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity.

 

24

 

Section
6.05                            Rights
and Remedies Cumulative; Delay or Omission Not Waiver.

 

(a)                                  Except
as otherwise provided in Section 2.07, all powers and remedies given by this
Article to the Trustee or to the Securityholders shall, to the extent permitted
by law, be deemed cumulative and not exclusive of any other powers and remedies
available to the Trustee or the holders of the Securities, by judicial
proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Indenture or otherwise established
with respect to such Securities.

 

(b)                                  No
delay or omission of the Trustee or of any holder of any of the Securities to
exercise any right or power accruing upon any Event of Default occurring and
continuing as aforesaid shall impair any such right or power, or shall be
construed to be a waiver of any such default or an acquiescence therein; and,
subject to the provisions of Section 6.04, every power and remedy given by this
Article or by law to the Trustee or the Securityholders may be exercised from
time to time, and as often as shall be deemed expedient, by the Trustee or by
the Securityholders.

 

Section
6.06                            Control
by Securityholders.

 

The holders of a majority in aggregate principal amount of the
Securities of any series at the time Outstanding, determined in accordance with
Section 8.04, shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee with respect to such
series; provided, however, that such direction shall not be in conflict with
any rule of law or with this Indenture. 
Subject to the provisions of Section 7.01, the Trustee shall have the
right to decline to follow any such direction if the Trustee in good faith
shall, by a Responsible Officer or officers of the Trustee, determine that the
proceeding so directed, subject to the Trustee’s duties under the Trust
Indenture Act, would involve the Trustee in personal liability or might be
unduly prejudicial to the Securityholders not involved in the proceeding.  The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding
affected thereby, determined in accordance with Section 8.04, may on behalf of
the holders of all of the Securities of such series waive any past default in
the performance of any of the covenants contained herein or established
pursuant to Section 2.01 with respect to such series and its consequences,
except a default in the payment of the principal of, or premium, if any, or
interest on, any of the Securities of that series as and when the same shall
become due by the terms of such Securities otherwise than by acceleration
(unless such default has been cured and a sum sufficient to pay all matured
installments of interest and principal and any premium has been deposited with
the Trustee (in accordance with Section 6.01(c)).  Upon any such waiver, the default covered
thereby shall be deemed to be cured for all purposes of this Indenture and the
Company, the Trustee and the holders of the Securities of such series shall be
restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other default or impair any right
consequent thereon.

 

Section
6.07                            Undertaking
to Pay Costs.

 

All parties to this Indenture agree, and each holder of any Securities
by such holder’s acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in

 

25

 

any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Trustee for any action taken
or omitted by it as Trustee, the filing by any party litigant in such suit of
an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees,
against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Securityholder, or group of
Securityholders, holding more than 10% in aggregate principal amount of the
Outstanding Securities of any series, or to any suit instituted by any
Securityholder for the enforcement of the payment of the principal of (or
premium, if any) or interest on any Security of such series, on or after the
respective due dates expressed in such Security or established pursuant to this
Indenture.

 

ARTICLE 7

CONCERNING THE TRUSTEE

 

Section
7.01                            Certain
Duties and Responsibilities of Trustee.

 

(a)                                  The
Trustee, prior to the occurrence of an Event of Default with respect to the
Securities of a series and after the curing of all Events of Default with
respect to the Securities of that series that may have occurred, shall
undertake to perform with respect to the Securities of such series such duties
and only such duties as are specifically set forth in this Indenture, and no
implied covenants shall be read into this Indenture against the Trustee.  In case an Event of Default with respect to
the Securities of a series has occurred (that has not been cured or waived),
the Trustee shall exercise with respect to Securities of that series such of
the rights and powers vested in it by this Indenture, and use the same degree
of care and skill in their exercise, as a prudent man 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 with respect to the Securities of a
series and after the curing or waiving of all such Events of Default with
respect to that series that may have occurred:

 

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

 

(B)                               in
the absence of bad faith on the part of the Trustee, the Trustee may with
respect to the Securities of such series 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

 

26

 

case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not
they conform to the requirement of this Indenture;

 

(ii)                                the
Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee, unless it shall be
proved that the Trustee was 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 direction of the holders of
not less than a majority in principal amount of the Securities of any series at
the time Outstanding 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 with respect to the
Securities of that series; and

 

(iv)                               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 liability is not reasonably assured to it under the terms of this
Indenture or adequate indemnity against such risk is not reasonably assured to
it.

 

Section
7.02                            Certain
Rights of Trustee.

 

Except as otherwise provided in Section 7.01:

 

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

 

(b)                                  Any
request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a Board Resolution or an instrument signed in the
name of the Company by any authorized officer of the Company (unless other
evidence in respect thereof is specifically prescribed herein);

 

(c)                                  The
Trustee may consult with counsel and the written advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken or suffered or omitted hereunder in good faith and
in reliance thereon;

 

(d)                                  The
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request, order or direction of any of the
Securityholders pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; nothing contained herein shall, however, relieve the
Trustee of the obligation, upon the occurrence of an Event of Default with
respect to a series of the Securities (that has not been cured or waived), to
exercise with respect to Securities of that series such of the rights and
powers vested in it by this Indenture, and to use the same

 

27

 

degree of care and skill in their exercise, as a
prudent man would exercise or use under the circumstances in the conduct of his
own affairs;

 

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

 

(f)                                    The
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond, security, or other papers or
documents, unless requested in writing so to do by the holders of not less than
a majority in principal amount of the Outstanding Securities of the particular
series affected thereby (determined as provided in Section 8.04); provided,
however, that if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of
such investigation is, in the opinion of the Trustee, not reasonably assured to
the Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require reasonable indemnity against such costs, expenses or
liabilities as a condition to so proceeding. 
The reasonable expense of every such examination shall be paid by the
Company or, if paid by the Trustee, shall be repaid by the Company upon demand;
and

 

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

 

In addition, the Trustee shall not be deemed to have knowledge of any
Default or Event of Default except (1) any Event of Default occurring pursuant
to Sections 6.01(a)(1), 6.01(a)(2) and 4.01 hereof or (2) any Default or Event
of Default of which the Trustee shall have received written notification in the
manner set forth in this Indenture or a Responsible Officer of the Trustee
shall have obtained actual knowledge. 
Delivery of reports, information and documents to the Trustee under
Section 5.03 is for informational purposes only and the information and the
Trustee’s receipt of the foregoing shall not constitute constructive notice of
any information contained therein, or determinable from information contained
therein including the Company’s compliance with any of their covenants
thereunder (as to which the Trustee is entitled to rely exclusively on an
Officers’ Certificate).

 

Section
7.03                            Trustee
Not Responsible for Recitals or Issuance or Securities.

 

(a)                                  The
recitals contained herein and in the Securities shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the
correctness of the same.

 

(b)                                  The
Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities.

 

(c)                                  The
Trustee shall not be accountable for the use or application by the Company of
any of the Securities or of the proceeds of such Securities, or for the use or

 

28

 

application of any moneys paid over by the Trustee in
accordance with any provision of this Indenture or established pursuant to
Section 2.01, or for the use or application of any moneys received by any
paying agent other than the Trustee.

 

Section
7.04                            May
Hold Securities.

 

The Trustee or any paying 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 or
Security Registrar.

 

Section
7.05                            Moneys
Held in Trust.

 

Subject to the provisions of Section 11.05, all moneys received by the
Trustee shall, until used or applied as herein provided, be held in trust for
the purposes for which they were received, but need not be segregated from
other funds except to the extent required by law.  The Trustee shall be under no liability for
interest on any moneys received by it hereunder except such as it may agree with
the Company to pay thereon.

 

Section 7.06                            Compensation
and Reimbursement.

 

(a)                                  The
Company covenants and agrees to pay to the Trustee, and the Trustee shall be
entitled to, such reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express
trust) as the Company and the Trustee may from time to time agree in writing,
for all services rendered by it in the execution of the trusts hereby created
and in the exercise and performance of any of the powers and duties hereunder
of the Trustee, and, except as otherwise expressly provided herein, the Company
will pay or reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances 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 or bad faith and except as the Company and
Trustee may from time to time agree in writing. 
The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any
loss, liability or expense incurred without negligence or bad faith on the part
of the Trustee and arising out of or in connection with the acceptance or
administration of this trust, including the reasonable costs and expenses of
defending itself against any claim of liability in the premises.

 

(b)                                  The
obligations of the Company under this Section to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for reasonable expenses,
disbursements and advances shall constitute additional indebtedness hereunder. 
Such additional indebtedness 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.

 

29

 

Section
7.07                            Reliance
on Officers’ Certificate.

 

Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it
reasonably necessary or desirable that a matter be proved or established prior
to taking or suffering or omitting to take any action hereunder, such matter
(unless other evidence in respect thereof be herein specifically prescribed)
may, in the absence of negligence or bad faith on the part of the Trustee, be
deemed to be conclusively proved and established by an Officers’ Certificate
delivered to the Trustee and such certificate, in the absence of negligence or
bad faith on the part of the Trustee, shall be full warrant to the Trustee for
any action taken, suffered or omitted to be taken by it under the provisions of
this Indenture upon the faith thereof.

 

Section
7.08                            Disqualification;
Conflicting Interests.

 

If the Trustee has or shall acquire any “conflicting interest” within
the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of
the Trust Indenture Act.

 

Section
7.09                            Corporate
Trustee Required; Eligibility.

 

There shall at all times be a Trustee with respect to the Securities
issued 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 Securities and Exchange Commission,
authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least fifty million U.S. dollars
($50,000,000), and subject to supervision or examination by federal, state,
territorial, or District of Columbia authority.

 

If such corporation or other Person publishes reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation or other 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 may not, nor may any Person directly or indirectly controlling,
controlled by, or under common control with the Company, serve as Trustee.  In case at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Trustee shall
resign immediately in the manner and with the effect specified in Section 7.10.

 

Section
7.10                            Resignation
and Removal; Appointment of Successor.

 

(a)                                  The
Trustee or any successor hereafter appointed may at any time resign with
respect to the Securities of one or more series by giving written notice
thereof to the Company and by transmitting notice of resignation by mail, first
class postage prepaid, to the Securityholders of such series, as their names
and addresses appear upon the Security Register.  Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee with respect to
Securities of such series by written instrument, in duplicate, executed by
order of the Board of Directors, one copy of which instrument shall be
delivered to the resigning

 

30

 

Trustee and one copy to the successor trustee.  If no successor trustee shall have been so
appointed and have accepted appointment within 30 days after the mailing of
such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor trustee with respect
to Securities of such series, or any Securityholder of that series who has been
a bona fide holder of a Security or Securities for at least six months may on
behalf of himself and all others similarly situated, petition any such court
for the appointment of a successor trustee. 
Such court may thereupon after such notice, if any, as it may deem
proper and prescribe, appoint a successor trustee.

 

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

 

(i)                                    the
Trustee shall fail to comply with the provisions of Section 7.08 after written
request therefor by the Company or by any Securityholder who has been a bona
fide holder of a Security or Securities for at least six months; or

 

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

 

(iii)                            the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the
Trustee or of its property shall be appointed or consented to, 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 with respect
to all Securities 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 any Securityholder who has been a bona fide holder of a
Security or Securities for at least six months may, on behalf of that holder
and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the 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 of any
series at the time Outstanding may at any time remove the Trustee with respect
to such series by so notifying the Trustee and the Company and may appoint a
successor Trustee for such series with the consent of the Company.

 

(d)                                  Any
resignation or removal of the Trustee and appointment of a successor trustee
with respect to the Securities of a series pursuant to any of the provisions of
this Section shall become effective upon acceptance of appointment by the
successor trustee as provided in Section 7.11.

 

(e)                                  Any
successor trustee appointed pursuant to this Section may be appointed with
respect to the Securities of one or more series or all of such series, and at
any time there shall be only one Trustee with respect to the Securities of any
particular series.

 

31

 

Section
7.11                            Acceptance
of Appointment By Successor.

 

(a)                                  In
case of the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor trustee, such retiring Trustee shall, upon
payment of its charges, execute and deliver an instrument transferring to such
successor trustee all the rights, powers, and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor trustee all
property and money held by such retiring Trustee hereunder.

 

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

 

(c)                                  Upon
request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor

 

32

 

trustee all such rights, powers and trusts referred to
in paragraph (a) or (b) of this Section, as the case may be.

 

(d)                                  No
successor trustee shall accept its appointment unless at the time of such
acceptance such successor trustee shall be qualified and eligible under this
Article.

 

(e)                                  Upon
acceptance of appointment by a successor trustee as provided in this Section,
the Company shall transmit notice of the succession of such trustee hereunder
by mail, first class postage prepaid, to the Securityholders, as their names
and addresses appear upon the Security Register.  If the Company fails to transmit such notice
within ten days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be transmitted at the expense of
the Company.

 

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

 

Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to the corporate trust business of the Trustee,
including the administration of the trust created by this Indenture, shall be
the successor of the Trustee hereunder, provided that such corporation shall be
qualified under the provisions of Section 7.08 and eligible under the
provisions of Section 7.09, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding.  In case any
Securities shall have been authenticated, but not delivered, by the Trustee then
in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities
so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.

 

Section
7.13                            Preferential
Collection of Claims Against the Company.

 

The Trustee shall comply with Section 311(a) of the Trust Indenture
Act, excluding any creditor relationship described in Section 311(b) 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.

 

Section 7.14                            Notice
of Default

 

If any Default or any Event of Default occurs and is continuing and if
such Default or Event of Default is known to a Responsible Officer of the
Trustee, the Trustee shall mail to each Securityholder in the manner and to the
extent provided in Section 313(c) of the Trust Indenture Act notice of the
Default or Event of Default within 45 days after it occurs, unless such Default
or Event of Default has been cured; provided,
however, that, except in the case of a default in the payment of the
principal of (or premium, if any) or interest on any Security, the Trustee
shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or
Responsible Officers of the Trustee in good faith determine that the
withholding of such notice is in the interest of the Securityholders.

 

33

 

ARTICLE 8

CONCERNING THE SECURITYHOLDERS

 

Section
8.01                            Evidence
of Action by Securityholders.

 

Whenever in this Indenture it is provided that the holders of a
majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of
any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such action
the holders of such majority or specified percentage of that series have joined
therein may be evidenced by any instrument or any number of instruments of
similar tenor executed by such holders of Securities of that series in person
or by agent or proxy appointed in writing.

 

If the Company shall solicit from the Securityholders of any series any
request, demand, authorization, direction, notice, consent, waiver or other
action, the Company may, at its option, as evidenced by an Officers’
Certificate, fix in advance a record date for such series for the determination
of Securityholders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have
no obligation to do so.  If such a record
date is fixed, such request, demand, authorization, direction, notice, consent,
waiver or other action may be given before or after the record date, but only
the Securityholders of record at the close of business on the record date shall
be deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that
purpose the Outstanding Securities of that series shall be computed as of the
record date; provided, however, that no such authorization, agreement or
consent by such Securityholders on the record date shall be deemed effective unless
it shall become effective pursuant to the provisions of this Indenture not
later than six months after the record date.

 

Section
8.02                            Proof
of Execution by Securityholders.

 

Subject to the provisions of Section 7.01, proof of the execution of
any instrument by a Securityholder (such proof will not require notarization)
or his agent or proxy and proof of the holding by any Person of any of the
Securities shall be sufficient if made in the following manner:

 

(a)                                  The
fact and date of the execution by any such Person of any instrument may be
proved in any reasonable manner acceptable to the Trustee.

 

(b)                                  The
ownership of Securities shall be proved by the Security Register of such
Securities or by a certificate of the Security Registrar thereof.

 

The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.

 

34

 

Section
8.03                            Who
May be Deemed Owners.

 

Prior to the due presentment for registration of transfer of any
Security, the Company, the Trustee, any paying agent and any Security Registrar
may deem and treat the Person in whose name such Security shall be registered
upon the books of the Company as the absolute owner of such Security (whether
or not such Security shall be overdue and notwithstanding any notice of
ownership or writing thereon made by anyone other than the Security Registrar)
for the purpose of receiving payment of or on account of the principal of,
premium, if any, and (subject to Section 2.03) interest on such Security and
for all other purposes; and neither the Company nor the Trustee nor any paying
agent nor any Security Registrar shall be affected by any notice to the
contrary.

 

Section
8.04                            Certain
Securities Owned by Company Disregarded.

 

In determining whether the holders of the requisite aggregate principal
amount of Securities of a particular series have concurred in any direction,
consent or waiver under this Indenture, the Securities of that series that are
owned by the Company or any other obligor on the Securities of that series or
by any Person directly or indirectly controlling or controlled by or under
common control with the Company or any other obligor on the Securities of that
series shall be disregarded and deemed not to be Outstanding for the purpose of
any such determination, except that for the purpose of determining whether the
Trustee shall be protected in relying on any such direction, consent or waiver,
only Securities of such series that the Trustee actually knows are so owned
shall be so disregarded.  The Securities
so owned that have been pledged in good faith may be regarded as Outstanding
for the purposes of this Section, if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
the Company or any such other obligor. 
In case of a dispute as to such right, any decision by the Trustee taken
upon the advice of counsel shall be full protection to the Trustee.

 

Section
8.05                            Actions
Binding on Future Securityholders.

 

At any time prior to (but not after) the evidencing to the Trustee, as
provided in Section 8.01, of the taking of any action by the holders of the
majority or percentage in aggregate principal amount of the Securities of a
particular series specified in this Indenture in connection with such action,
any holder of a Security of that series that is shown by the evidence to be
included in the Securities the holders of which have consented to such action
may, by filing written notice with the Trustee, and upon proof of holding as
provided in Section 8.02, revoke such action so far as concerns such Security.  Except as aforesaid any such action taken by
the holder of any Security shall be conclusive and binding upon such holder and
upon all future holders and owners of such Security, and of any Security issued
in exchange therefor, on registration of transfer thereof or in place thereof,
irrespective of whether or not any notation in regard thereto is made upon such
Security.  Any action taken by the
holders of the majority or percentage in aggregate principal amount of the
Securities of a particular series specified in this Indenture in connection
with such action shall be conclusively binding upon the Company, the Trustee
and the holders of all the Securities of that series.

 

35

 

ARTICLE 9

SUPPLEMENTAL INDENTURES

 

Section
9.01                            Supplemental
Indentures Without the Consent of Securityholders.

 

In addition to any supplemental indenture otherwise authorized by this
Indenture, the Company and the Trustee may from time to time and at any time
enter into an indenture or indentures supplemental hereto (which shall conform
to the provisions of the Trust Indenture Act as then in effect), without the
consent of the Securityholders, for one or more of the following purposes:

 

(a)                                  to
cure any ambiguity, defect, or inconsistency herein or in the Securities of any
series;

 

(b)                                  to
comply with Article Ten;

 

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

 

(d)                                  to
add to the covenants, restrictions, conditions or provisions relating to the
Company for the benefit of the holders of all or any series of Securities (and
if such covenants, restrictions, conditions or provisions are to be for the
benefit of less than all series of Securities, stating that such covenants,
restrictions, conditions or provisions are expressly being included solely for
the benefit of such series), to make the occurrence, or the occurrence and the
continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an Event of Default, or to surrender any right or
power herein conferred upon the Company;

 

(e)                                  to
add to, delete from, or revise the conditions, limitations, and restrictions on
the authorized amount, terms, or purposes of issue, authentication, and
delivery of Securities, as herein set forth;

 

(f)                                    to
make any change that does not adversely affect the rights of any Securityholder
in any material respect;

 

(g)                                 to
provide for the issuance of and establish the form and terms and conditions of
the Securities of any series as provided in Section 2.01, to establish the form
of any certifications required to be furnished pursuant to the terms of this
Indenture or any series of Securities, or to add to the rights of the holders
of any series of Securities;

 

(h)                                 to
evidence and provide for the acceptance of appointment hereunder by a successor
trustee; or

 

(i)                                    to
comply with any requirements of the Securities and Exchange Commission or any
successor in connection with the qualification of this Indenture under the
Trust Indenture Act.

 

36

 

The Trustee is hereby authorized to join with the Company in the
execution of any such supplemental indenture, and to make any further
appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to enter into any such supplemental indenture
that affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

 

Any supplemental indenture authorized by the provisions of this Section
may be executed by the Company and the Trustee without the consent of the
holders of any of the Securities at the time Outstanding, notwithstanding any
of the provisions of Section 9.02.

 

Section
9.02                            Supplemental
Indentures With Consent of Securityholders.

 

With the consent (evidenced as provided in Section 8.01) of the holders
of not less than a majority in aggregate principal amount of the Securities of
each series affected by such supplemental indenture or indentures at the time
Outstanding, the Company, when authorized by a Board Resolution, and the
Trustee may from time to time and at any time enter into an indenture or
indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as then in effect) for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not
covered by Section 9.01 the rights of the holders of the Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the holders of each Security then
Outstanding and affected thereby, (a) extend the fixed maturity of any
Securities of any series, or reduce the principal amount thereof, or reduce the
rate or extend the time of payment of interest thereon, or reduce any premium
payable upon the redemption thereof or (b) reduce the aforesaid percentage of
Securities, the holders of which are required to consent to any such
supplemental indenture.

 

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

 

Section
9.03                            Effect
of Supplemental Indentures.

 

Upon the execution of any supplemental indenture pursuant to the
provisions of this Article or of Section 10.01, this Indenture shall, with
respect to such series, be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the
Company and the holders of Securities of the series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

 

Section
9.04                            Securities
Affected by Supplemental Indentures.

 

Securities of any series affected by a supplemental indenture,
authenticated and delivered after the execution of such supplemental indenture
pursuant to the provisions of this Article or of Section 10.01, may bear a
notation in form approved by the Company, provided such form meets

 

37

 

the requirements of any securities exchange upon which
such series may be listed, as to any matter provided for in such supplemental
indenture.  If the Company shall so
determine, new Securities of that series so modified as to conform, in the
opinion of the Board of Directors, to any modification of this Indenture contained
in any such supplemental indenture may be prepared by the Company,
authenticated by the Trustee and delivered in exchange for the Securities of
that series then Outstanding.

 

Section
9.05                            Execution
of Supplemental Indentures.

 

Upon the request of the Company, accompanied by its Board Resolutions
authorizing the execution of any such supplemental indenture, and upon the
filing with the Trustee of evidence of the consent of Securityholders required
to consent thereto as aforesaid, the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture
affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise, in which case the Trustee may in its discretion but shall not be
obligated to enter into such supplemental indenture.  The Trustee, subject to the provisions of
Section 7.01, may receive an Officers’ Certificate or an Opinion of Counsel as
conclusive evidence that any supplemental indenture executed pursuant to this Article
is authorized or permitted by, and conforms to, the terms of this Article and
that it is proper for the Trustee under the provisions of this Article to join
in the execution thereof; provided, however, that such Officers’ Certificate or
Opinion of Counsel need not be provided in connection with the execution of a
supplemental indenture that establishes the terms of a series of Securities
pursuant to Section 2.01 hereof.

 

Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Section, the Trustee
shall transmit by mail, first class postage prepaid, a notice, setting forth in
general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby as their names and addresses
appear upon the Security Register.  Any
failure of the Trustee to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental
indenture.

 

ARTICLE 10

SUCCESSOR ENTITY

 

Section
10.01                     Company May
Consolidate, Etc.

 

Except as provided pursuant to Section 2.01 pursuant to a Board
Resolution, and set forth in an Officers’ Certificate, or established in one or
more indentures supplemental to this Indenture, nothing contained in this
Indenture shall prevent any consolidation or merger of the Company with or into
any other Person (whether or not affiliated with the Company) or successive
consolidations or mergers in which the Company or its successor or successors shall
be a party or parties, or shall prevent any sale, conveyance, transfer or other
disposition of the property of the Company or its successor or successors as an
entirety, or substantially as an entirety, to any other corporation (whether or
not affiliated with the Company or its successor or successors) authorized to
acquire and operate the same; provided, however, (a) the Company hereby
covenants and agrees that, upon any such consolidation or merger (in each case,
if the

 

38

 

Company is not the survivor of such transaction),
sale, conveyance, transfer or other disposition, the due and punctual payment
of the principal of (premium, if any) and interest on all of the Securities of
all series in accordance with the terms of each series, according to their
tenor, and the due and punctual performance and observance of all the covenants
and conditions of this Indenture with respect to each series or established
with respect to such series pursuant to Section 2.01 to be kept or performed by
the Company shall be expressly assumed, by supplemental indenture (which shall
conform to the provisions of the Trust Indenture Act, as then in effect)
reasonably satisfactory in form to the Trustee executed and delivered to the
Trustee by the entity formed by such consolidation, or into which the Company
shall have been merged, or by the entity which shall have acquired such
property and (b) in the event that the Securities of any series then
Outstanding are convertible into or exchangeable for shares of common stock or
other securities of the Company, such entity shall, by such supplemental
indenture, make provision so that the Securityholders of Securities of that
series shall thereafter be entitled to receive upon conversion or exchange of
such Securities the number of securities or property to which a holder of the
number of shares of common stock or other securities of the Company deliverable
upon conversion or exchange of those Securities would have been entitled had
such conversion or exchange occurred immediately prior to such consolidation,
merger, sale, conveyance, transfer or other disposition.

 

Section
10.02                     Successor
Entity Substituted.

 

(a)                                  In
case of any such consolidation, merger, sale, conveyance, transfer or other
disposition and upon the assumption by the successor entity by supplemental
indenture, executed and delivered to the Trustee and satisfactory in form to
the Trustee, of the obligations set forth under Section 10.01 on all of the
Securities of all series Outstanding, such successor entity shall succeed to
and be substituted for the Company with the same effect as if it had been named
as the Company herein, and thereupon the predecessor corporation shall be
relieved of all obligations and covenants under this Indenture and the
Securities.

 

(b)                                  In
case of any such consolidation, merger, sale, conveyance, transfer or other
disposition, such changes in phraseology and form (but not in substance) may be
made in the Securities thereafter to be issued as may be appropriate.

 

(c)                                  Nothing
contained in this Article shall require any action by the Company in the case
of a consolidation or merger of any Person into the Company where the Company
is the survivor of such transaction, or the acquisition by the Company, by purchase
or otherwise, of all or any part of the property of any other Person (whether
or not affiliated with the Company).

 

Section 10.03                     Evidence
of Consolidation, Etc. to Trustee.

 

The Trustee, subject to the provisions of Section 7.01, may receive an
Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any
such consolidation, merger, sale, conveyance, transfer or other disposition,
and any such assumption, comply with the provisions of this Article.

 

39

 

ARTICLE
11

SATISFACTION AND DISCHARGE

 

Section
11.01                     Satisfaction
and Discharge of Indenture.

 

If at any time: (a) the Company shall have delivered to the Trustee for
cancellation all Securities of a series theretofore authenticated and not
delivered to the Trustee for cancellation (other than any Securities that shall
have been destroyed, lost or stolen and that shall have been replaced or paid
as provided in Section 2.07 and Securities for whose payment money or
Governmental Obligations have theretofore been deposited in trust or segregated
and held in trust by the Company and thereupon repaid to the Company or
discharged from such trust, as provided in Section 11.05); or (b) all such
Securities of a particular series not theretofore delivered to the Trustee for
cancellation shall have become due and payable, or are by their terms to become
due and payable within one year or are to be called for redemption within one
year under arrangements satisfactory to the Trustee for the giving of notice of
redemption, and the Company shall deposit or cause to be deposited with the
Trustee as trust funds the entire amount in moneys or Governmental Obligations
or a combination thereof, sufficient in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, to pay at maturity or upon redemption all
Securities of that series not theretofore delivered to the Trustee for
cancellation, including principal (and premium, if any) and interest due or to
become due to such date of maturity or date fixed for redemption, as the case
may be, and if the Company shall also pay or cause to be paid all other sums
payable hereunder with respect to such series by the Company then this
Indenture shall thereupon cease to be of further effect with respect to such
series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03
and 7.10, that shall survive until the date of maturity or redemption date, as
the case may be, and Sections 7.06 and 11.05, that shall survive to such date
and thereafter, and the Trustee, on demand of the Company and at the cost and
expense of the Company shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture with respect to such series.

 

Section
11.02                     Discharge of
Obligations.

 

If at any time all such Securities of a particular series not
heretofore delivered to the Trustee for cancellation or that have not become
due and payable as described in Section 11.01 shall have been paid by the
Company by depositing irrevocably with the Trustee as trust funds moneys or an
amount of Governmental Obligations sufficient to pay at maturity or upon
redemption all such Securities of that series not theretofore delivered to the
Trustee for cancellation, including principal (and premium, if any) and
interest due or to become due to such date of maturity or date fixed for
redemption, as the case may be, and if the Company shall also pay or cause to
be paid all other sums payable hereunder by the Company with respect to such
series, then after the date such moneys or Governmental Obligations, as the
case may be, are deposited with the Trustee the obligations of the Company
under this Indenture with respect to such series shall cease to be of further
effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02,
4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities
shall mature and be paid.

 

40

 

Thereafter, Sections 7.06 and 11.05 shall survive.

 

Section
11.03                     Deposited
Moneys to be Held in Trust.

 

All moneys or Governmental Obligations deposited with the Trustee
pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be
available for payment as due, either directly or through any paying agent
(including the Company acting as its own paying agent), to the holders of the
particular series of Securities for the payment or redemption of which such
moneys or Governmental Obligations have been deposited with the Trustee.

 

Section
11.04                     Payment of
Moneys Held by Paying Agents.

 

In connection with the satisfaction and discharge of this Indenture all
moneys or Governmental Obligations then held by any paying agent under the
provisions of this Indenture shall, upon demand of the Company, be paid to the
Trustee and thereupon such paying agent shall be released from all further
liability with respect to such moneys or Governmental Obligations.

 

Section
11.05                     Repayment to
Company.

 

Any moneys or Governmental Obligations deposited with any paying agent
or the Trustee, or then held by the Company, in trust for payment of principal
of or premium, if any, or interest on the Securities of a particular series
that are not applied but remain unclaimed by the holders of such Securities for
at least two years after the date upon which the principal of (and premium, if
any) or interest on such Securities shall have respectively become due and
payable, or such other shorter period set forth in applicable escheat or abandoned
or unclaimed property law, shall be repaid to the Company on May 31 of each
year or upon the Company’s request or (if then held by the Company) shall be
discharged from such trust; and thereupon the paying agent and the Trustee
shall be released from all further liability with respect to such moneys or
Governmental Obligations, and the holder of any of the Securities entitled to
receive such payment shall thereafter, as a general creditor, look only to the
Company for the payment thereof.

 

ARTICLE
12

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

 

Section
12.01                     No Recourse.

 

No recourse under or upon any obligation, covenant or agreement of this
Indenture, or of any Security, or for any claim based thereon or otherwise in
respect thereof, shall be had against any incorporator, stockholder, officer or
director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations, and that no such
personal liability whatever shall attach to, or is or shall be incurred

 

41

 

by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom;
and that any and all such personal liability of every name and nature, either
at common law or in equity or by constitution or statute, of, and any and all
such rights and claims against, every such incorporator, stockholder, officer
or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom,
are hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issuance of such
Securities.

 

ARTICLE
13

MISCELLANEOUS PROVISIONS

 

Section
13.01                     Effect on
Successors and Assigns.

 

All the covenants, stipulations, promises and agreements in this
Indenture made by or on behalf of the Company shall bind its successors and
assigns, whether so expressed or not.

 

Section
13.02                     Actions by
Successor.

 

Any act or proceeding by any provision of this Indenture authorized or
required to be done or performed by any board, committee or officer of the
Company shall and may be done and performed with like force and effect by the
corresponding board, committee or officer of any corporation that shall at the
time be the lawful successor of the Company.

 

Section
13.03                     Surrender of
Company Powers.

 

The Company by instrument in writing executed by authority of its Board
of Directors and delivered to the Trustee may surrender any of the powers
reserved to the Company, and thereupon such power so surrendered shall
terminate both as to the Company and as to any successor corporation.

 

Section 13.04                     Notices.

 

Except as otherwise expressly provided herein, any notice, request or
demand that by any provision of this Indenture is required or permitted to be
given, made or served by the Trustee or by the holders of Securities or by any
other Person pursuant to this Indenture to or on the Company may be given or
served by being deposited in first class mail, postage prepaid, addressed
(until another address is filed in writing by the Company with the Trustee), as
follows: 1180 Veterans Blvd., South San Francisco, CA 94080.  Any notice, election, request or demand by
the Company or any Securityholder or by any other Person pursuant to this
Indenture to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate
Trust Office of the Trustee.

 

42

 

Section
13.05                     Governing Law.

 

This Indenture and each Security shall be deemed to be a contract made
under the internal laws of the State of New York, and for all purposes shall be
construed in accordance with the laws of said State, except to the extent that
the Trust Indenture Act is applicable.

 

Section
13.06                     Treatment of
Securities as Debt.

 

It is intended that the Securities will be treated as indebtedness and
not as equity for federal income tax purposes. 
The provisions of this Indenture shall be interpreted to further this
intention.

 

Section
13.07                     Certificates
and Opinions as to Conditions Precedent.

 

(a)                                  Upon
any application or demand by the Company to the Trustee to take any action
under any of the provisions of this Indenture, the Company shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent provided
for in this Indenture (other than the certificate to be delivered pursuant to
Section 13.12) relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the opinion of such counsel all such conditions
precedent have been complied with, except that in the case of any such
application or demand as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be
furnished.

 

(b)                                  Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant in this
Indenture shall include (i) a statement that the Person making such certificate
or opinion has read such covenant or condition; (ii) 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;
(iii) a statement that, in the opinion of such Person, he has made such
examination or investigation as is reasonably necessary to enable him to
express an informed opinion as to whether or not such covenant or condition has
been complied with; and (iv) a statement as to whether or not, in the opinion
of such Person, such condition or covenant has been complied with.

 

Section
13.08                     Payments on
Business Days.

 

Except as provided pursuant to Section 2.01 pursuant to a Board
Resolution, and set forth in an Officers’ Certificate, or established in one or
more indentures supplemental to this Indenture, in any case where the date of
maturity of interest or principal of any Security or the date of redemption of
any Security shall not be a Business Day, then payment of interest or principal
(and premium, if any) may be made on the next succeeding Business Day with the
same force and effect as if made on the nominal date of maturity or redemption,
and no interest shall accrue for the period after such nominal date.

 

43

 

Section
13.09                     Conflict with
Trust Indenture Act.

 

If and to the extent that any provision of this Indenture limits,
qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control.

 

Section
13.10                     Counterparts.

 

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

 

Section
13.11                     Separability.

 

In case any one or more of the provisions contained in this Indenture
or in the Securities of any series shall for any reason be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Indenture or of
such Securities, but this Indenture and such Securities shall be construed as
if such invalid or illegal or unenforceable provision had never been contained
herein or therein.

 

Section 13.12                     Compliance
Certificates.

 

The Company shall deliver to the Trustee, within 120 days after the end
of each fiscal year during which any Securities of any series were outstanding,
an officer’s certificate stating whether or not the signers know of any Default
or Event of Default that occurred during such fiscal year.  Such certificate shall contain a
certification from the principal executive officer, principal financial officer
or principal accounting officer of the Company that a review has been conducted
of the activities of the Company and the Company’s performance under this
Indenture and that the Company has complied with all conditions and covenants
under this Indenture.  For purposes of
this Section 13.12, such compliance shall be determined without regard to any
period of grace or requirement of notice provided under this Indenture.  If the officer of the Company signing such
certificate has knowledge of such a Default or Event of Default, the certificate
shall describe any such Default or Event of Default and its status.

 

44

 

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

 

	
   

  	
  RIGEL
  PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, N.A., as Trustee

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
								

 

45

 

CROSS-REFERENCE TABLE (1)

 

	
  Section of Trust
  Indenture Act Of 1939, as Amended

  	
   

  	
  Section
  of Indenture

  
	
  310(a)

  	
   

  	
  7.09

  
	
  310(b)

  	
   

  	
  7.08

  
	
   

  	
   

  	
  7.10

  
	
  310(c)

  	
   

  	
  Inapplicable

  
	
  311(a)

  	
   

  	
  7.13

  
	
  311(b)

  	
   

  	
  7.13

  
	
  311(c)

  	
   

  	
  Inapplicable

  
	
  312(a)

  	
   

  	
  5.01

  
	
   

  	
   

  	
  5.02(a)

  
	
  312(b)

  	
   

  	
  5.02(c)

  
	
  312(c)

  	
   

  	
  5.02(c)

  
	
  313(a)

  	
   

  	
  5.04(a)

  
	
  313(b)

  	
   

  	
  5.04(b)

  
	
  313(c)

  	
   

  	
  5.04(a)

  
	
   

  	
   

  	
  5.04(b)

  
	
  313(d)

  	
   

  	
  5.04(c)

  
	
  314(a)

  	
   

  	
  5.03

  
	
   

  	
   

  	
  13.12

  
	
  314(b)

  	
   

  	
  Inapplicable

  
	
  314(c)

  	
   

  	
  13.07(a)

  
	
  314(d)

  	
   

  	
  Inapplicable

  
	
  314(e)

  	
   

  	
  13.07(b)

  
	
  314(f)

  	
   

  	
  Inapplicable

  
	
  315(a)

  	
   

  	
  7.01(a)

  
	
   

  	
   

  	
  7.01(b)

  
	
  315(b)

  	
   

  	
  7.14

  
	
  315(c)

  	
   

  	
  7.01

  
	
  315(d)

  	
   

  	
  7.01(b)

  
	
  315(e)

  	
   

  	
  6.07

  
	
  316(a)

  	
   

  	
  6.06

  
	
   

  	
   

  	
  8.04

  
	
  316(b)

  	
   

  	
  6.04

  
	
  316(c)

  	
   

  	
  8.01

  
	
  317(a)

  	
   

  	
  6.02

  
	
  317(b)

  	
   

  	
  4.03

  
	
  318(a)

  	
   

  	
  13.09

  

 

(1)          This Cross-Reference
Table does not constitute part of the Indenture and shall not have any bearing
on the interpretation of any of its terms or provisions.

 

46

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