Document:

EX-4.4

EXHIBIT 4.4

 

LORILLARD TOBACCO COMPANY,

as Issuer

LORILLARD, INC.,

as Guarantor

and

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

as Trustee,

 

INDENTURE

Dated as of [          ], 2009

 

Debt Securities

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE ONE

	 
	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION
	 
	 	 	 	 
	SECTION 101 Definitions
	 	 	1	 
	SECTION 102 Compliance Certificates and Opinions
	 	 	8	 
	SECTION 103 Form of Documents Delivered to Trustee
	 	 	9	 
	SECTION 104 Acts of Holders; Record Dates
	 	 	9	 
	SECTION 105 Notices, Etc., to Trustee and the Company
	 	 	10	 
	SECTION 106 Notice to Holders; Waiver
	 	 	10	 
	SECTION 107 Conflict With Trust Indenture Act
	 	 	11	 
	SECTION 108 Effect of Headings and Table of Contents
	 	 	11	 
	SECTION 109 Successors and Assigns
	 	 	11	 
	SECTION 110 Separability Clause
	 	 	11	 
	SECTION 111 Benefits of Indenture
	 	 	11	 
	SECTION 112 Governing Law; Waiver of Jury Trial
	 	 	11	 
	SECTION 113 Non-Business Day
	 	 	12	 
	SECTION 114 Immunity of Incorporators, Stockholders, Officers and Directors
	 	 	12	 
	SECTION 115 Certain Matters Relating to Currencies
	 	 	12	 
	SECTION 116 Language of Notices, Etc.
	 	 	12	 
	SECTION 117 Force Majeure
	 	 	13	 
	SECTION 118 USA PATRIOT Act
	 	 	13	 
	 
	 	 	 	 
	ARTICLE TWO

	 
	 	 	 	 
	SECURITY FORMS

	 
	 	 	 	 
	SECTION 201 Forms of Securities
	 	 	13	 
	SECTION 202 Form of Trustee’s Certificate of Authentication
	 	 	14	 
	SECTION 203 Securities in Global Form
	 	 	14	 
	 
	 	 	 	 
	ARTICLE THREE

	 
	 	 	 	 
	THE SECURITIES

	 
	 	 	 	 
	SECTION 301 Title; Payment and Terms
	 	 	14	 
	SECTION 302 Denominations and Currencies
	 	 	16	 
	SECTION 303 Execution, Authentication, Delivery and Dating
	 	 	17	 
	SECTION 304 Temporary Securities and Exchange of Securities
	 	 	17	 
	SECTION 305 Registration, Registration of Transfer and Exchange
	 	 	18	 
	SECTION 306 Mutilated, Destroyed, Lost and Stolen Securities
	 	 	20	 
	SECTION 307 Payment of Interest; Interest Rights Preserved
	 	 	20	 
	SECTION 308 Persons Deemed Owners
	 	 	21	 
	SECTION 309 Cancellation
	 	 	22	 
	SECTION 310 Computation of Interest
	 	 	22	 
	SECTION 311 Currency and Manner of Payments in Respect of Securities
	 	 	22	 
	SECTION 312 Appointment and Resignation of Currency Determination Agent
	 	 	23	 
	SECTION 313 CUSIP and ISIN Numbers
	 	 	24	 

-i-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE FOUR

	 
	 	 	 	 
	DEFEASANCE; SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	SECTION 401 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	24	 
	SECTION 402 Legal Defeasance and Discharge
	 	 	24	 
	SECTION 403 Covenant Defeasance
	 	 	25	 
	SECTION 404 Conditions to Legal or Covenant Defeasance
	 	 	25	 
	SECTION 405 Satisfaction and Discharge of Indenture
	 	 	26	 
	SECTION 406 Survival of Certain Obligations
	 	 	26	 
	SECTION 407 Acknowledgment of Discharge by Trustee
	 	 	27	 
	SECTION 408 Application of Trust Moneys
	 	 	27	 
	SECTION 409 Repayment to the Company; Unclaimed Money
	 	 	27	 
	SECTION 410 Reinstatement
	 	 	27	 
	 
	 	 	 	 
	ARTICLE FIVE

	 
	 	 	 	 
	REMEDIES

	 
	 	 	 	 
	SECTION 501 Events of Default
	 	 	28	 
	SECTION 502 Acceleration of Maturity; Rescission and Annulment
	 	 	29	 
	SECTION 503 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	30	 
	SECTION 504 Trustee May File Proofs of Claim
	 	 	31	 
	SECTION 505 Trustee May Enforce Claims Without Possession of Securities
	 	 	32	 
	SECTION 506 Application of Money Collected
	 	 	32	 
	SECTION 507 Limitation on Suits
	 	 	32	 
	SECTION 508 Unconditional Right of Holders to Receive Principal, Premium, if any, and Interest, if any
	 	 	33	 
	SECTION 509 Restoration of Rights and Remedies
	 	 	33	 
	SECTION 510 Rights and Remedies Cumulative
	 	 	33	 
	SECTION 511 Delay or Omission Not Waiver
	 	 	33	 
	SECTION 512 Control by Holders
	 	 	33	 
	SECTION 513 Waiver of Past Defaults
	 	 	34	 
	SECTION 514 Undertaking for Costs
	 	 	34	 
	SECTION 515 Judgment Currency
	 	 	34	 
	 
	 	 	 	 
	ARTICLE SIX

	 
	 	 	 	 
	THE TRUSTEE

	 
	 	 	 	 
	SECTION 601 Certain Duties and Responsibilities
	 	 	35	 
	SECTION 602 Notice of Defaults
	 	 	36	 
	SECTION 603 Certain Rights of Trustee
	 	 	36	 
	SECTION 604 Not Responsible for Recitals or Issuance of Securities
	 	 	37	 
	SECTION 605 May Hold Securities
	 	 	37	 
	SECTION 606 Money Held in Trust
	 	 	37	 
	SECTION 607 Compensation and Reimbursement
	 	 	37	 
	SECTION 608 Disqualification; Conflicting Interests
	 	 	38	 
	SECTION 609 Corporate Trustee Required; Different Trustees for Different Series; Eligibility
	 	 	38	 
	SECTION 610 Resignation and Removal; Appointment of Successor
	 	 	39	 
	SECTION 611 Acceptance of Appointment by Successor
	 	 	40	 
	SECTION 612 Merger, Conversion, Consolidation or Succession to Business
	 	 	41	 
	SECTION 613 Preferential Collection of Claims Against Company
	 	 	41	 
	SECTION 614 Authenticating Agents
	 	 	41	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE SEVEN

	 
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

	 
	 	 	 	 
	SECTION 701 Company to Furnish Trustee Names and Addresses of Holders
	 	 	42	 
	SECTION 702 Preservation of Information; Communications to Holders
	 	 	43	 
	SECTION 703 Reports by Trustee
	 	 	44	 
	SECTION 704 Reports by Company
	 	 	44	 
	 
	 	 	 	 
	ARTICLE EIGHT

	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER
	 	 	 	 
	 
	 	 	 	 
	SECTION 801 Company and Guarantor May Consolidate, Etc., Only on Certain Terms
	 	 	45	 
	SECTION 802 Successor Entity Substituted
	 	 	45	 
	 
	 	 	 	 
	ARTICLE NINE

	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	SECTION 901 Supplemental Indentures Without Consent of Holders
	 	 	45	 
	SECTION 902 Supplemental Indentures With Consent of Holders
	 	 	47	 
	SECTION 903 Execution of Supplemental Indentures
	 	 	48	 
	SECTION 904 Effect of Supplemental Indentures
	 	 	48	 
	SECTION 905 Conformity With Trust Indenture Act
	 	 	48	 
	SECTION 906 Reference in Securities to Supplemental Indentures
	 	 	48	 
	 
	 	 	 	 
	ARTICLE TEN

	 
	 	 	 	 
	COVENANTS

	 
	 	 	 	 
	SECTION 1001 Payment of Principal, Premium, if any, and Interest, if any
	 	 	48	 
	SECTION 1002 Maintenance of Office or Agency
	 	 	48	 
	SECTION 1003 Money for Securities Payments to Be Held in Trust
	 	 	49	 
	SECTION 1004 Payment of Taxes and Other Claims
	 	 	50	 
	SECTION 1005 Statements as to Compliance
	 	 	50	 
	SECTION 1006 Corporate Existence
	 	 	50	 
	SECTION 1007 Limitations on Liens
	 	 	50	 
	SECTION 1008 Sale and Leaseback Transactions
	 	 	51	 
	SECTION 1009 Waiver of Certain Covenants
	 	 	52	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	 
	 	 	 	 
	REDEMPTION OF SECURITIES

	 
	 	 	 	 
	SECTION 1101 Applicability of This Article
	 	 	52	 
	SECTION 1102 Election to Redeem; Notice to Trustee
	 	 	52	 
	SECTION 1103 Selection by Trustee of Securities to Be Redeemed
	 	 	52	 
	SECTION 1104 Notice of Redemption
	 	 	53	 
	SECTION 1105 Deposit of Redemption Price
	 	 	53	 
	SECTION 1106 Securities Payable on Redemption Date
	 	 	53	 
	SECTION 1107 Securities Redeemed in Part
	 	 	54	 

-iii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE TWELVE

	 
	 	 	 	 
	SINKING FUNDS

	 
	 	 	 	 
	SECTION 1201 Applicability of This Article
	 	 	54	 
	SECTION 1202 Satisfaction of Sinking Fund Payments With Securities
	 	 	54	 
	SECTION 1203 Redemption of Securities for Sinking Fund
	 	 	54	 
	 
	 	 	 	 
	ARTICLE THIRTEEN

	 
	 	 	 	 
	GUARANTEES OF SECURITIES

	 
	 	 	 	 
	SECTION 1301 Guarantee
	 	 	55	 
	SECTION 1302 Execution and Delivery of Indenture and Guarantee Agreement
	 	 	55	 
	 
	 	 	 	 
	EXHIBIT A — Form of Note
	 	 	 	 
	EXHIBIT B — Form of Guarantee Agreement
	 	 	 	 

-iv-

 

LORILLARD TOBACCO COMPANY

     Reconciliation and tie showing the location in the Indenture, dated as of [         ],
2009 of the provisions inserted pursuant to Sections 310 to 318(a), inclusive, of the Trust
Indenture Act of 1939, as amended.

	 	 	 	 	 
	TIA	 	Indenture
	Section	 	Section
	§310
	 	(a)(1)	 	609
	 
	 	(a)(2)	 	609
	 
	 	(a)(3)	 	Not Applicable
	 
	 	(a)(4)	 	Not Applicable
	 
	 	(b)	 	608 and 610(d)
	 
	 	(c)	 	Not Applicable
	§311
	 	(a)	 	613
	 
	 	(b)	 	613
	 
	 	(c)	 	Not Applicable
	§312
	 	(a)	 	701 and 702(a)
	 
	 	(b)	 	702(b)
	 
	 	(c)	 	702(c)
	§313
	 	(a)	 	703(a)
	 
	 	(b)	 	703(a)
	 
	 	(c)	 	703(a)
	 
	 	(d)	 	703(b)
	§314
	 	(a)	 	704 and 1005
	 
	 	(b)	 	Not Applicable
	 
	 	(c)	 	102
	 
	 	(c)(1)	 	102
	 
	 	(c)(2)	 	102
	 
	 	(c)(3)	 	Not Applicable
	 
	 	(d)	 	Not Applicable
	 
	 	(e)	 	102
	§315
	 	(a)	 	601(a)
	 
	 	(b)	 	602, 703(a) and 106
	 
	 	(c)	 	601(b)
	 
	 	(d)	 	601(c)
	 
	 	(d)(1)	 	601(a)(1)
	 
	 	(d)(2)	 	601(c)(2)
	 
	 	(d)(3)	 	601(c)(3)
	 
	 	(e)	 	514
	§316
	 	(a)	 	101
	 
	 	(a)(1)(A)	 	502 and 512
	 
	 	(a)(1)(B)	 	513
	 
	 	(a)(2)	 	Not Applicable
	 
	 	(b)	 	508
	 
	 	(c)	 	Not Applicable
	§317
	 	(a)(1)	 	503
	 
	 	(a)(2)	 	504
	 
	 	(b)	 	1003
	§318
	 	(a)	 	107

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

-v-

 

     This is an INDENTURE, dated as of [          ], 2009, among LORILLARD TOBACCO COMPANY, a
corporation duly incorporated and existing under the laws of the Delaware and having its principal
office at 714 Green Valley Road, Greensboro, North Carolina 27408 (hereinafter called the
“Company”), LORILLARD, INC., a corporation duly incorporated and existing under the laws of the
Delaware and the parent company of the Company and having its principal office at 714 Green Valley
Road, Greensboro, North Carolina 27408 (hereinafter called the “Guarantor”), and THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A., a national banking association, as Trustee (hereinafter called the
“Trustee”).

RECITALS OF THE COMPANY

     The Company deems it desirable to issue from time to time for its lawful purposes securities
(hereinafter called the “Securities”) evidencing its unsecured indebtedness and has duly authorized
the execution and delivery of this Indenture to provide for the issuance from time to time of the
Securities, unlimited as to principal amount, to have such titles, to bear such rates of interest,
to mature at such time or times and to have such other provisions as shall be fixed as hereinafter
provided.

     Because the Securities may have the benefit of the unconditional guarantee by the Guarantor to
pay the principal of, and premium, if any, and interest, if any, on such Securities, according to
the terms of the Securities and as more fully described herein, the Guarantor has duly authorized
the execution and delivery of this Indenture.

     All things necessary to make this Indenture a valid agreement of the Company and the
Guarantor, in accordance with its terms, have been done, and the Company proposes to do all things
necessary to make the Securities, when executed by the Company and authenticated and delivered by
the Trustee hereunder and duly issued by the Company, the valid obligations of the Company as
hereinafter provided.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

          SECTION 101 Definitions.

     For all purposes of this Indenture and all Securities issued hereunder, except as otherwise
expressly provided or unless the context otherwise requires:

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

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

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

     (4) any reference to an “Article” or a “Section” refers to an Article or Section, as
the case may be, of this Indenture; and

 

 

     (5) the words “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.

     Certain terms, used principally in Article Three and Article Four, are defined in those
Articles.

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

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

     “Authenticating Agent” means any Person authorized to authenticate and deliver Securities on
behalf of the Trustee for the Securities of any series pursuant to Section 614.

     “Authorized Newspapers” means a newspaper customarily published in an official language of the
country of publication or in the English language at least once a day for at least five days in
each calendar week and of general circulation in The City of New York and in such city or cities
specified pursuant to Section 301 with respect to the Securities of any series. Where successive
publications are required to be made in Authorized Newspapers, such successive publications may be
made in the same or in different newspapers in the same city meeting the foregoing requirements and
in each case on any Business Day in such city.

     “Board of Directors” means the board of directors of the Company or any duly authorized
committee of that board or any director or directors and/or officer or officers of the Company to
whom that board or committee shall have duly delegated its authority.

     “Board Resolution” means (1) a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company or the Guarantor, as the case may be, to have been duly adopted by the
Board of Directors and to be in full force and effect on the date of such certification, or (2) a
certificate signed by the director or directors or officer or officers to whom the Board of
Directors shall have duly delegated its authority for the purpose specified therein, and delivered
to the Trustee for the Securities of any series.

     “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday
nor a day on which commercial banks are authorized or required by law, regulation or executive
order to close in The City of New York; provided, however, that, with respect to Securities not
denominated in Dollars, the day is also not a day on which commercial banks are authorized or
required by law, regulation or executive order to close in the Principal Financial Center of the
country issuing the Foreign Currency or currency unit or, if the Foreign Currency or currency unit
is Euro, the day is also a day on which the Trans-European Automated Real-time Gross Settlement
Express Transfer (TARGET or TARGET2) system is open; provided, further, that, with respect to LIBOR
Securities, the day is also a London Business Day.

     “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) the
equity of such Person, including any preferred stock, partnership interests and limited liability
company membership interests, but excluding any debt securities convertible into such equity.

     “Certificate of a Firm of Independent Public Accountants” means a certificate signed by any
firm of independent public accountants of recognized standing selected by the Company. The term
“independent” when used with respect to any specified firm of public accountants means such a firm
which (1) is in fact independent within the meaning of the Securities Act of 1933, as amended, and
the rules and regulations thereunder adopted by the Commission and the Public Company Accounting
Oversight Board (United States), (2) does not have any direct financial interest or any material
indirect financial interest in the Company or in any other obligor upon the Securities of any
series or in any Affiliate of the Company or of such other obligor, and (3) is not connected with
the Company or such other obligor or any Affiliate of the Company or of such other obligor, as an
officer, employee,

2

 

promoter, underwriter, trustee, partner, director or person performing similar functions, but
such firm may be the regular independent accountants employed by the Company. Whenever it is
herein provided that any Certificate of a Firm of Independent Public Accountants shall be furnished
to the Trustee for Securities of any series, such Certificate shall state that the signer has read
this definition and that the signer is independent within the meaning hereof.

     “Clearstream” means Clearstream Banking S.A., or its successor.

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

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

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

     “Company Request” and “Company Order” mean, respectively, a written request or order signed in
the name of the Company by (1) its Chairman of the Board, a Vice Chairman of the Board, a President
or a Vice President (or any Person or the Guarantor, as the case may be, designated by one of them
in writing as authorized to execute and deliver Company Requests and Company Orders) and by the
Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an
Assistant Secretary of the Company, or (2) by any two Persons designated in a Company Order
previously delivered to the Trustee for Securities of any series by any two of the foregoing
officers and delivered to the Trustee for Securities of any series.

     “Component Currency” has the meaning specified in Section 311(d).

     “Consolidated Capitalization” means the total of all the assets appearing on the most recent
quarterly or annual consolidated balance sheet of the Guarantor and its consolidated Subsidiaries,
less the following:

     (a) current liabilities, including liabilities for indebtedness maturing more than 12
months from the date of the original creation thereof, but maturing within 12 months from
the date of such consolidated balance sheet; and

     (b) deferred income tax liabilities appearing on such consolidated balance sheet.

     “Consolidated Net Tangible Assets” means the excess over current liabilities of all assets
appearing on the most recent quarterly or annual consolidated balance sheet of the Guarantor and
its consolidated Subsidiaries less goodwill and other intangible assets and the minority interests
of others in Subsidiaries.

     “Conversion Event” means, in the good faith judgment of the Company, the unavailability of any
Foreign Currency or currency unit due to the imposition of exchange controls or other circumstances
beyond the Company’s control.

     “Corporate Trust Office” means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the dated hereof is located at
10161 Centurion Parkway, Jacksonville, FL 32256, Attention: Corporate Trust Administration, or
such other address as the Trustee may designate from time to time by notice to the Holders and the
Company, or the principal corporate trust office of any successor Trustee (or such other address as
such successor Trustee may designate from time to time by notice to the Holders and the Company).

     “corporation” includes corporations, limited liability companies, companies and business
trusts.

3

 

     “Currency Determination Agent”, with respect to Securities of any series, means, unless
otherwise specified in the Securities of any series, a New York Clearing House bank designated
pursuant to Section 301 or 312, provided that The Bank of New York Mellon Trust Company, N.A. shall
not be appointed Currency Determination Agent without its express prior written consent.

     “Defaulted Interest” has the meaning specified in Section 307.

     “Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more Global Securities, the Person designated as Depositary by the
Company pursuant to Section 301 until a successor Depositary shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each
Person who is then a Depositary hereunder, and if at any time there is more than one such Person.
“Depositary” as used with respect to the Securities of any such series shall mean the Depositary
with respect to the Securities of that series.

     “Dollars” and the sign “$” mean the currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

     “DTC” means The Depository Trust Company, New York, New York, or its successors.

     “Euro” means the single currency of the participating member states of the European Union as
defined under EC Regulation 1103/97 adopted under Article 235 of the Treaty on European Union and
under EC Regulation 974/98 adopted under Article 1091(4) of the Treaty on European Union or any
successor European legislation from time to time.

     “Euroclear” means Euroclear Bank, S.A./N.V., or its successor.

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

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

     “Foreign Currency” means a currency issued and actively maintained as a country’s recognized
unit of domestic exchange by the government of any country other than the United States, and such
term shall include the Euro and any other such currency reasonably acceptable to the Trustee.

     “Global Securities” means Securities in global form.

     “Government Obligations” means securities which are (i) direct obligations of the government
which issued the currency in which the Securities of a particular series are payable (except as
provided in Section 311(c), such obligations shall be issued in the currency or currency unit in
which such Securities are payable as a result of a Conversion Event) or (ii) obligations of a
Person controlled or supervised by or acting as an agency or instrumentality of the government
which issued the currency in which the Securities of such series are payable (except as provided in
Section 311(c), such obligations shall be issued in the currency or currency unit in which such
Securities are payable as a result of a Conversion Event), the payment of which is unconditionally
guaranteed by such government, which, in either case, are full faith and credit obligations of such
government payable in such currency and are not callable or redeemable at the option of the issuer
thereof.

     “Guarantee” has the meaning specified in Section 1301.

     “Guarantee Agreement” has the meaning specified in Section 1301.

     “Guarantor” means the Person named as the “Guarantor” in the first paragraph of this
instrument (i) until released pursuant to the provisions of this Indenture or (ii) until a
successor Person shall have become such pursuant to the applicable provisions of this Indenture,
and thereafter “Guarantor” shall mean that successor Person until released pursuant to the
provisions of this Indenture.

4

 

     “Holder”, when used with respect to any Security, means the Person in whose name a Security is
registered in the Security Register.

     “Indenture” means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof including, for purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern
this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also
include the terms of a particular series of Securities established as contemplated by Section 301.

     “Indexed Security” means any Security as to which the amount of payments of principal,
premium, if any, and/or interest, if any, due thereon is determined with reference to the rate of
exchange between the currency or currency unit in which the Security is denominated and any other
specified currency or currency unit, to the relationship between two or more currencies or currency
units, to the price of one or more specified securities or commodities, to
one or more securities or commodities exchange indices or other indices or by other similar
methods or formulas, all as specified in accordance with Section 301.

     “interest”, when used with respect to an OID Security which by its terms bears interest only
after Maturity, means interest payable after Maturity.

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

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

     “Judgment Date” has the meaning specified in Section 515.

     “LIBOR” means, with respect to any LIBOR Security, the rate specified as LIBOR for such series
of Securities in accordance with Section 301.

     “LIBOR Currency” means the currency specified pursuant to Section 301 as to which LIBOR will
be calculated or, if no currency is specified pursuant to Section 301, Dollars.

     “LIBOR Security” means any Security which bears interest at a floating rate calculated with
reference to LIBOR.

     “London Business Day” means, with respect to any LIBOR Security, a day on which commercial
banks are open for business, including dealings in the LIBOR Currency, in London.

     “Market Exchange Rate” with respect to any Foreign Currency or currency unit on any date
means, unless otherwise specified in accordance with Section 301, the noon buying rate in The City
of New York for cable transfers in such Foreign Currency or currency unit as certified for customs
purposes by the Federal Reserve Bank of New York for such Foreign Currency or currency unit.

     “Maturity”, when used with respect to any Security, means the date on which the principal (or,
if the context so requires, in the case of an OID Security, a lesser amount or, in the case of an
Indexed Security, an amount determined in accordance with the specified terms of that Security) of
that Security becomes due and payable as therein or herein provided, whether at the Stated Maturity
or by declaration of acceleration, call for redemption, request for redemption, repayment at the
option of the holder, pursuant to any sinking fund or otherwise.

     “Notice of Default” has the meaning specified in Section 501(3).

     “Officers’ Certificate” means a certificate signed by any Chairman of the Board, Vice Chairman
of the Board, Chief Executive Officer, President or Vice President (any reference to a Vice
President of the Company herein

5

 

shall be deemed to include any Vice President of the Company
whether or not designated by a number or a word or words added before or after the title “Vice
President” ), and by the Treasurer, an Assistant Treasurer, the Controller, an Assistant
Controller, the Secretary or an Assistant Secretary of the Company or
the Guarantor, as the case may be,  and delivered to the Trustee for
the Securities of any series.

     “OID Security” means a Security which provides for an amount (excluding any amounts
attributable to accrued but unpaid interest thereon) less than the principal amount thereof to be
due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502.

     “Opinion of Counsel” means, a written opinion of independent legal counsel of recognized
standing and, for all other purposes hereof, means a written opinion of counsel satisfactory to the
Trustee, who may be an employee of or counsel to the Company or the
Guarantor, as the case may be.

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

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

     (2) Securities or portions thereof for whose payment or redemption money in the
necessary amount and in the required currency or currency unit has been theretofore
deposited with the Trustee for such Securities or any Paying Agent (other than the Company
or any other obligor upon the Securities) in trust or set aside and segregated in trust by
the Company or any other obligor upon the Securities (if the Company or any other obligor
upon the Securities shall act as its own Paying Agent) for the Holders of such Securities;
provided, however, that, if such Securities or portions thereof are to be redeemed, notice
of such redemption has been duly given pursuant to this Indenture, or provision therefor
satisfactory to such Trustee has been made; and

     (3) Securities which have been paid pursuant to Section 306 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented proof satisfactory to the Trustee for such Securities that any such Securities are
held by bona fide holders in due course;

provided, however, that in determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder, (a) Securities owned by the Company or any other obligor upon the Securities or
any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee for such Securities shall be protected
in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Securities that the Company has so notified a Responsible Officer of such Trustee in writing are so
owned shall be so disregarded; Securities so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee is not the Company or any other obligor upon the Securities
or any Affiliate of the Company or of such other obligor; (b) the principal amount of an OID
Security that shall be deemed to be Outstanding for such purposes shall be the amount of the
principal thereof that would be due and payable as of the date of such determination upon a
declaration of acceleration pursuant to Section 502; and (c) the principal amount of a Security
denominated in a Foreign Currency or currency unit that shall be deemed to be outstanding for such
purposes shall be determined in accordance with Section 115 if, as of such date, the principal
amount payable at the Stated Maturity of a Security is not determinable, the principal amount of
such Security which shall be deemed to be Outstanding shall be the amount as specified or
determined as contemplated by Section 301.

     “Paying Agent” means the Trustee or any other Person authorized by the Company to pay the
principal of, and premium, if any, and interest, if any, on any Securities of any series on behalf
of the Company.

     “Person” means any individual, firm, corporation, partnership, association, joint venture,
tribunal, limited liability company, trust, government or political subdivision or agency or
instrumentality thereof, or any other entity or organization.

6

 

     “Place of Payment”, when used with respect to the Securities of any particular series, means
the place or places where the principal of, premium, if any, and interest, if any, on the
Securities of that series are payable, as contemplated by Section 301.

     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by that particular Security, and, for the purposes
of this definition, any Security authenticated and delivered under Section 306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

     “Principal Facility” has the meaning specified in Section 1007.

     “Principal Financial Center” means, unless otherwise specified in accordance with Section 301:

     (1) the capital city of the country issuing the Foreign Currency or currency unit,
except that with respect to Dollars, Australian dollars, Canadian dollars, Euros, South
African rand and Swiss francs, the “Principal Financial Center” will be The City of New
York, Sydney and Melbourne, Toronto, Frankfurt, Johannesburg and Zurich, respectively; or

     (2) the capital city of the country to which the LIBOR Currency relates, except that
with respect to Dollars, Canadian dollars, Euros, South African rand and Swiss francs, the
“Principal Financial Center” will be The City of New York, Toronto, Frankfurt, Johannesburg
and Zurich, respectively.

     “Redemption Date”, when used with respect to any Security to be redeemed in whole or in part,
means the date fixed for such redemption by or pursuant to this Indenture.

     “Redemption Price”, when used with respect to any Security to be redeemed, means, unless
otherwise specified in such Security an amount, in the currency or currency unit in which such
Security is denominated or which is otherwise provided for pursuant hereto, equal to the principal
amount thereof and premium, if any, thereon, together with accrued interest, if any, to the
Redemption Date.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series, means the date, if any, specified for that purpose as contemplated by Section 301.

     “Responsible Officer”, when used with respect to the Trustee for any series of Securities,
means any officer within the corporate trust department of such Trustee including any vice
president, assistant vice president, assistant treasurer or trust officer with direct
responsibilities for the administration of this Indenture and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is referred because of his
or her knowledge of and familiarity with the particular subject.

     “Securities” has the meaning set forth in the Recitals hereto and more particularly means any
Securities authenticated and delivered under this Indenture.

     “Security Register” and “Security Registrar” have the respective meanings specified in Section
305.

     A “series” of Securities means all Securities bearing the same title and identified as part of
a single series.

     “Special Record Date” for the payment of any Defaulted Interest on the Securities of any
series means a date fixed by the Trustee for such series pursuant to Section 307.

     “Stated Maturity”, when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security as the fixed date on which
the principal of such Security or such installment of principal or interest is due and payable.

     “Subsidiary” means any corporation, limited or general partnership, limited liability company,
trust association or other business entity of which at least a majority of all outstanding stock or
other interests having ordinary

7

 

voting power in the election of directors, managers or trustees
(without regard to the occurrence of any contingency) thereof is at the time, directly or
indirectly, owned or controlled by the Company or by one or more Subsidiaries or by the Company and
one or more Subsidiaries.

     “Substitute Date” has the meaning specified in Section 515.

     “Successor
Entity” means a corporation in the case of the Guarantor and
a corporation, limited partnership, limited liability company in the
case of the Company which succeeds to the obligations of the
Guarantor or the Company, as the case may be, under this Indenture in
compliance with Article Eight hereof.

     “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of
which this Indenture was executed, provided, however, that in the event the Trust Indenture Act of
1939 is amended after such date,

     “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture
Act of 1939 as so amended.

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
and, subject to the provisions of Article Six hereof, shall also include its successors and assigns
as Trustee hereunder. If there shall be at one time more than one Trustee hereunder, “Trustee”
shall mean each such Trustee and shall apply to each such Trustee only with respect to those series
of Securities with respect to which it is serving as Trustee.

     “United States” means, unless otherwise specified with respect to Securities of any series,
the United States of America (including the States and the District of Columbia), its territories,
its possessions and other areas subject to its jurisdiction (including the Commonwealth of Puerto
Rico).

     “Yield to Maturity”, when used with respect to any OID Security, means the yield to maturity,
if any, set forth on the face thereof.

          SECTION 102 Compliance Certificates and Opinions.

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

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

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

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

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

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

8

 

          SECTION 103 Form of Documents Delivered to Trustee.

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

     Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to matters upon which his or her certificate or opinion is based
are erroneous.

     Any such certificate, representation or Opinion of Counsel may be based, insofar as it relates
to factual matters, upon a certificate or opinion of, or representations by, an officer or officers
of the Company stating that the
information with respect to such factual matters is in the possession of the Company, unless
such counsel knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to such matters are erroneous.

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

          SECTION 104 Acts of Holders; Record Dates.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by one or more agents duly appointed in writing. Except as herein otherwise expressly
provided, such action shall become effective when such instrument or instruments or record or both
are delivered to the Trustee for the appropriate series of Securities and, where it is hereby
expressly required, to the Company. Such instrument or instruments and any such record (and the
action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the
Holders signing such instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of
the Trustee for the appropriate series of Securities and the Company
or the Guarantor and any agent of such Trustee
or the Company or the Guarantor, if made in the manner provided in this Section.

     The Company may at its discretion set a record date for purposes of determining the identity
of Holders of Securities entitled to vote or consent to any action by vote or consent authorized or
permitted under this Indenture, but the Company shall have no obligation to do so. If not set by
the Company prior to the first solicitation of Holders of Securities of a particular series made by
any Person in respect of any such action or, in the case of any such vote, prior to such vote, the
record date for any such action or vote shall be 30 days prior to the first solicitation of such
vote or consent. Upon the fixing of such a record date those Persons who were Holders of
Securities at such record date (or their duly designated proxies), and only those Persons, shall be
entitled with respect to such Securities to take such action by vote or consent or to revoke any
vote or consent previously given, whether or not such Persons continue to be Holders after such
record date.

          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him or her the execution thereof. Where such
execution is by an officer of a corporation or association or a member of a partnership, or an
official of a public or governmental body, on behalf of such corporation, association, partnership
or public or governmental body or by a fiduciary, such certificate or affidavit shall also
constitute sufficient proof of his or her authority.

9

 

          (c) The fact and date of the execution by any Person of any such instrument or writing, or the
authority of the Person executing the same, may also be proved in any other manner which the
Trustee for the appropriate series of Securities deems sufficient.

          (d) The principal amount and serial numbers of Securities held by any Person, and the date of
holding the same, shall be proved by the Security Register.

          (e) Subject to Section 115, in determining whether the Holders of the requisite principal
amount of Outstanding Securities have given any request, demand, authorization, direction, notice,
consent or waiver under this Indenture, the principal amount of an OID Security that may be counted
in making such determination and that shall be deemed to be Outstanding for such purposes shall be
equal to the amount of the principal thereof that would be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 502 at the time the taking of such action
by the Holders of such requisite principal amount is evidenced to the Trustee for such Securities.

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

          SECTION 105 Notices, Etc., to Trustee and the Company.

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

     (a) the Trustee for a series of Securities by any Holder or by the Company shall be
sufficient for every purpose hereunder if made, given, furnished or filed in writing, to or
with such Trustee at The Bank of New York Mellon Trust Company, N.A., 10161 Centurion
Parkway, Jacksonville, FL 32256], Attention: Corporate Trust Administration, or if sent by
facsimile transmission, to a facsimile number provided by the Trustee, with a copy mailed,
first class postage prepaid, to the Trustee addressed to it as provided above, or

     (b)
the Company and the Guarantor by such Trustee or by any Holder shall be sufficient for every purpose
hereunder (except as provided in paragraphs (3), (4) and (5) of Section 501) if furnished in
writing and mailed, first class postage prepaid, addressed to the
Company and the Guarantor,  at the address of
their respective principal office specified in the first paragraph of this instrument or at
any other address previously furnished in writing to such Trustee by
the Company or the Guarantor, as applicable, or  if sent
by facsimile transmission, to a facsimile number provided to the
Trustee by the Company or the Guarantor, as applicable, with a copy mailed, first class
postage prepaid, to the Company and the Guarantor, addressed to it as provided
above.

     Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the principal amount
of such Security or by one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such principal amount.

          SECTION 106 Notice to Holders; Waiver.

     Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) to Holders of Securities if in
writing and mailed, first class postage prepaid, to each Holder affected by such event, at his or
her physical address as it appears in the Security Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice.

10

 

     In any case where notice to Holders of Securities is given by mail, neither the failure to
mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Security
shall affect the sufficiency of such notice with respect to other Holders of Securities. Any
notice mailed in the manner prescribed by this Indenture shall be deemed to have been given whether
or not received by any particular Holder. In case by reason of the suspension of regular mail
service or by reason of any other cause it shall be impracticable to give such notice to Holders of
Securities by mail, then such notification as shall be made with the approval of the Trustee for
such Securities shall constitute sufficient notice to such Holders.

     Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee for such Securities, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.

          SECTION 107 Conflict With Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act which is required under such Act to be a part of and govern this Indenture, the latter
provision shall control. If any provision of
this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so
modified or excluded, the latter provision shall be deemed to apply to this Indenture as so
modified or to be excluded, as the case may be.

          SECTION 108 Effect of Headings and Table of Contents.

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

          SECTION 109 Successors and Assigns.

     All
covenants and agreements in this Indenture by each of the Company,
the Guarantor  and the Trustee shall
bind their respective successors and assigns, whether so expressed or not.

          SECTION 110 Separability Clause.

     If
any provision in this Indenture or in the Securities or the Guarantee
(in the case of Guaranteed Securities) shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

          SECTION 111 Benefits of Indenture.

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

          SECTION 112 Governing Law; Waiver of Jury Trial.

     This
Indenture, the Securities and, if issued, the Guarantee shall be
governed by and construed in accordance with the laws of the State of
New York.

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

11

 

          SECTION 113 Non-Business Day.

     Unless otherwise stated with respect to Securities of any series, in any case where any
Interest Payment Date, Redemption Date or Stated Maturity of a Security of any particular series
shall not be a Business Day at any Place of Payment with respect to Securities of that series, then
(notwithstanding any other provision of this Indenture or of the
Securities or the Guarantee (in the case of Guaranteed Securities)) payment of principal,
and premium, if any, and interest, if any, with respect to such Security need not be made at such
Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of
Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date,
or at the Stated Maturity, provided that no interest shall accrue with respect to such payment for
the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the
case may be, to the date of such payment.

          SECTION 114 Immunity of Incorporators, Stockholders, Officers and Directors.

     No recourse shall be had for the payment of principal of, or premium, if any, or interest, if
any, on any Security of any series, or for any claim based thereon, or upon any obligation,
covenant or agreement of this Indenture, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Company or the
Guarantor or  of any successor corporation, either
directly or indirectly through the Company or any successor
corporation,

or of
the Guarantor or the Guarantor or of any successor corporation, either directly or
indirectly through the Guarantor or any successor corporation,  whether by
virtue of any constitution, statute or rule of law or by the enforcement of any assessment of
penalty or otherwise; it being expressly agreed and understood that this Indenture, all the
Securities of each series and the Guarantee Agreement are solely corporate obligations, and that no personal liability whatever
shall attach to, or is incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any
successor corporation, either directly or indirectly through the Company or any successor
corporation, or of the Guarantor or of any successor corporation,
either directly or indirectly through the Guarantor or any successor
corporation, because of the incurring of the indebtedness hereby authorized or under or by reason
of any of the obligations, covenants or agreements contained in this
Indenture, in any of the
Securities of any series or in any Guarantee Agreement, or to be implied herefrom or therefrom; and that all such personal
liability is hereby expressly released and waived as a condition of, and as part of the
consideration for, the execution of this Indenture and any Guarantee
Agreement, and the issuance of the Securities of each
series.

          SECTION 115 Certain Matters Relating to Currencies.

     Subject to Section 311, each reference to any currency or currency unit in any Security, or in
the Board Resolution or supplemental indenture relating thereto, shall mean only the referenced
currency or currency unit and no other currency or currency unit.

     The Trustee shall segregate moneys, funds and accounts held by the Trustee in one currency or
currency unit from any moneys, funds or accounts held in any other currencies or currency units,
notwithstanding any provision herein which would otherwise permit the Trustee to commingle such
amounts.

     Whenever any action or Act is to be taken hereunder by the Holders of Securities denominated
in a Foreign Currency or currency unit, then for purposes of determining the principal amount of
Securities held by such Holders, the aggregate principal amount of the Securities denominated in a
Foreign Currency or currency unit shall be deemed to be that amount of Dollars that could be
obtained for such principal amount on the basis of a spot rate of exchange specified to the Trustee
in writing by the Currency Determination Agent for such Foreign Currency or currency unit into
Dollars as of the date the taking of such action or Act by the Holders of the requisite percentage
in principal amount of the Securities is evidenced to such Trustee.

          SECTION 116 Language of Notices, Etc.

     Any request, demand, authorization, direction, notice, consent or waiver required or permitted
under this Indenture shall be in the English language, and any published notice may also be in an
official language of the country of publication.

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          SECTION 117 Force Majeure.

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

          SECTION 118 USA PATRIOT Act.

     The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act the
Trustee, like all financial institutions and in order to help fight the funding of terrorism and
money laundering, is required to obtain, verify, and record information that identifies each person
or legal entity that establishes a relationship or opens an account. The parties to this Indenture
agree that they will provide the Trustee with such information as it may request in order for the
Trustee to satisfy the requirements of the USA PATRIOT Act.

ARTICLE TWO

SECURITY FORMS

          SECTION 201 Forms of Securities.

     The Securities of each series shall be in such form or forms (including global form) as shall
be established by or pursuant to a Board Resolution and initially in the Form of Exhibit A (which
shall be incorporated by reference in, and a part of, this Indenture), in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted
by this Indenture or any indenture supplemental hereto and may have such letters, numbers or other
marks of identification and such legends or endorsements placed thereon as may be required to
comply with any law, with any rule or regulation made pursuant thereto, with any rules of any
securities exchange, automated quotation system or clearing agency or to conform to usage, as may,
consistently herewith, be determined by the officers executing such Securities, as evidenced by
their execution of such Securities. If temporary Securities of any series are issued in global
form as permitted by Section 304, the form thereof shall be established as provided in the
preceding sentence.

     Prior to the delivery of a Security of any series in any such form to the Trustee for the
Securities of such series for authentication, the Company shall deliver to such Trustee the
following:

     (a) the Board Resolution by or pursuant to which such form of Security has been
approved and, if applicable, the supplemental indenture by or pursuant to which such form of
Security has been approved;

     (b) an Officers’ Certificate dated the date such Certificate is delivered to such
Trustee stating that all conditions precedent provided for in this Indenture relating to the
authentication and delivery of Securities in such form have been complied with; and

     (c) an Opinion of Counsel stating (i) that such form has been established in conformity
with the provisions of this Indenture; (ii) that such terms have been established in
conformity with the provisions of this Indenture; and (iii) that Securities in such form,
when (A) completed by appropriate insertions and executed and delivered by the Company to
such Trustee for authentication in accordance with this Indenture, (B) authenticated and
delivered by such Trustee in accordance with this Indenture within the authorization as to
aggregate principal amount established from time to time by the Board of Directors, and (C)
sold in the manner specified in such Opinion of Counsel, will be the legal, valid and
binding obligations of the Company, subject to the effects of applicable bankruptcy,
reorganization, fraudulent conveyance, moratorium, insolvency and other similar laws
generally affecting creditors’ rights, to general equitable principles,

13

 

to an implied
covenant of good faith and fair dealing and to such other qualifications as such counsel
shall conclude do not materially affect the rights of Holders of such Securities.

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

          SECTION 202 Form of Trustee’s Certificate of Authentication.

     The Trustees’ certificate of authentication on all Securities shall be in substantially the
following form:

     “This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

	 	 	 	 	 
	 	The Bank of New York Mellon Trust Company, N.A.,

     as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory” 	 
	 	 	 	 
	 

          SECTION 203 Securities in Global Form.

     If any Security of a series is issuable in global form, such Security may provide that it
shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon
and may also provide that the aggregate amount of Outstanding Securities represented thereby may
from time to time be reduced to reflect exchanges. Any endorsement of a Security in global form to
reflect the amount, or any increase or decrease in the amount, of Outstanding Securities
represented thereby shall be made by the Trustee and in such manner as shall be specified in such
Security. Any instructions by the Company with respect to a Security in global form, after its
initial issuance, shall be in writing but need not comply with Section 102.

     Global Securities may be issued in registered form and in either temporary or permanent form.

ARTICLE THREE

THE SECURITIES

          SECTION 301 Title; Payment and Terms.

     The aggregate principal amount of Securities which may be authenticated and delivered and
Outstanding under this Indenture is unlimited. The Securities may be issued up to the aggregate
principal amount of Securities from time to time authorized by or pursuant to a Board Resolution.

     The Securities may be issued in one or more series, each of which shall be issued pursuant to
a Board Resolution. There shall be established in one or more Board Resolutions or pursuant to one
or more Board Resolutions and, subject to Section 303, set forth in, or determined in the manner
provided in an Officers’ Certificate of the Company, prior to the issuance of Securities of any
series all or any of the following, as applicable (each of which, if so provided, may be determined
from time to time by the Company with respect to unissued Securities of that series and set forth
in the Securities of that series when issued from time to time):

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

     (2) any limit upon the aggregate principal amount of the Securities of that series
which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon

14

 

registration of transfer of, or in exchange for, or in lieu
of, other Securities of that series pursuant to Sections 304, 305, 306, 906 or 1107);

     (3) the date or dates (or manner of determining the same) on which the principal of the
Securities of that series is payable (which, if so provided in such Board Resolution, may be
determined by the Company from time to time and set forth in the Securities of the series
issued from time to time);

     (4) the rate or rates (or the manner of calculation thereof) at which the Securities of
that series shall bear interest (if any), the date or dates from which such interest shall
accrue, the Interest Payment Dates on which such interest shall be payable (or manner of
determining the same) and the Regular Record Date for the interest payable on any Securities
on any Interest Payment Date and the extent to which, or the manner in which, any interest
payable on a temporary Global Security on an Interest Payment Date will be paid if other
than in the manner provided in Section 307;

     (5) the place or places where, subject to the provisions of Section 1002, the principal
of, and premium, if any, and interest, if any, on Securities of that series shall be
payable, any Securities of that series may be surrendered for registration of transfer, any
Securities of that series may be surrendered for exchange, and notices and demands to or
upon the Company in respect of the Securities of that series and this Indenture may be
served;

     (6) the period or periods within which (or manner of determining the same), the price
or prices at which (or manner of determining the same), the currency or currency unit in
which, and the terms and conditions upon which Securities of that series may be redeemed, in
whole or in part, at the option of the Company, and any remarketing arrangements with
respect to the Securities of that series;

     (7) the obligation, if any, of the Company to redeem, repay or purchase Securities of
that series pursuant to any sinking fund or analogous provisions or at the option of a
Holder thereof, and the period or periods within which (or manner of determining the same),
the price or prices at which (or manner of determining the same), the currency or currency
unit in which, and the terms and conditions upon which, Securities of that series shall be
redeemed or purchased, in whole or in part, pursuant to such obligation;

     (8) if the currency in which the Securities of that series shall be issuable is
Dollars, the denominations in which any Securities of that series shall be issuable, only in
denominations of $2,000 and integral multiples of $1,000 therof;

     (9) if other than the entire principal amount thereof, the portion of the principal
amount of Securities of that series which shall be payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 502;

     (10)
any Events of Default and covenants of the Company or the Guarantor with respect to the Securities
of that series, whether or not such Events of Default or covenants are consistent with the
Events of Default or covenants set forth herein;

     (11) if a Person other than The Bank of New York Mellon Trust Company, N.A. is to act
as Trustee for the Securities of that series, the name and location of the Corporate Trust
Office of such Trustee;

     (12) if other than Dollars, the currency or currency unit in which payment of the
principal of, and premium, if any, and interest, if any, on the Securities of that series
shall be made or in which the Securities of that series shall be denominated and the
particular provisions applicable thereto in accordance with, in addition to or in lieu of
the provisions of Section 311;

     (13) if the principal of, and premium, if any, and interest, if any, on the Securities
of that series are to be payable, at the election of the Company or a Holder thereof, in a
currency or currency unit other than that in which such Securities are denominated or stated
to be payable, in accordance with provisions

15

 

in addition to or in lieu of, or in accordance
with, the provisions of Section 311, the period or periods within which, and the terms and
conditions upon which, such election may be made, and the time and manner of determining the
exchange rate between the currency or currency unit in which such Securities are denominated
or stated to be payable and the currency or currency unit in which such Securities are to be
so payable;

     (14) the designation of the original Currency Determination Agent, if any;

     (15) if the Securities of such series are issuable as Indexed Securities, the manner in
which the amount of payments of principal of, and premium, if any, and interest, if any, on
that series shall be determined;

     (16) if the Securities of that series do not bear interest, the applicable dates for
purposes of Section 701;

     (17) if other than as set forth in Article Four, provisions for the satisfaction and
discharge of this Indenture with respect to the Securities of that series;

     (18) the date as of which any Global Security representing Outstanding Securities of
that series shall be dated if other than the date of original issuance of the first Security
of that series to be issued;

     (19) whether the Securities of the series shall be issued in whole or in part in the
form of a Global Security or Securities and, in such case, the Depositary, if any, for such
Global Security or Securities, whether such global form shall be permanent or temporary;

     (20) if Securities of the series are to be issuable initially in the form of a
temporary Global Security, the circumstances under which the temporary Global Security can
be exchanged for definitive Securities and whether the definitive Securities will be in
global form;

     (21) whether the Securities of the series will be convertible or exchangeable into
other securities of the Company or another Person, and if so, the terms and conditions upon
which such Securities will be so convertible or exchangeable, including the conversion price
or exchange rate and the conversion or exchange period, and any additions or changes to the
Indenture with respect to the Securities of such series to permit or facilitate such
conversion or exchange;

     (22) whether Securities of the series are entitled to the benefits of any Guarantee of the Guarantor pursuant
to Article Thirteen of this Indenture, and if so, the terms and conditions of such guarantee;

     (23) the form of the Securities of the series; and

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

     All Securities of any particular series shall be substantially identical except as to
denomination, rate of interest, Stated Maturity and the date from which interest, if any, shall
accrue, and except as may otherwise be provided in or pursuant to such Board Resolution relating
thereto. The terms of such Securities, as set forth above, may be determined by the Company from
time to time if so provided in or established pursuant to the authority granted in a Board
Resolution. All Securities of any one series need not be issued at the same time, and unless
otherwise provided, a series may be reopened for issuance of additional Securities of such series.

          SECTION 302 Denominations and Currencies.

     Unless otherwise provided with respect to any series of Securities as contemplated by Section
301, any Securities of a series shall be issuable only in denominations of $2,000 and integral
multiples of $1,000 or the equivalent

16

 

amount
thereof as determined by the Company in the case of Securities denominated in a
Foreign Currency or currency unit.

          SECTION 303 Execution, Authentication, Delivery and Dating.

     The Securities shall be executed on behalf of the Company by its Chairman of the Board, a Vice
Chairman of the Board, or one or more of its Presidents or Vice Presidents. The signature of any
of these officers on the Securities may be manual or facsimile.

     Securities bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities.

     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 the
Securities of such series for authentication, together with a Company Order for the authentication
and delivery of such Securities, and such Trustee, in accordance with the Company Order, shall
authenticate and deliver such Securities. If all the Securities of any one series are not to be
issued at one time and if a Board Resolution relating to such Securities shall so permit, such
Company Order may set forth procedures acceptable to the Trustee for the issuance of such
Securities, including, without limitation, procedures with respect to interest rate, Stated
Maturity, date of issuance and date from which interest, if any, shall accrue.

     Notwithstanding any contrary provision herein, if all Securities of a series are not to be
originally issued at one time, it shall not be necessary to deliver the Board Resolution otherwise
required pursuant to Section 201 at or
prior to the time of authentication of each Security of such series if such document is
delivered at or prior to the authentication upon original issuance of the first Security of such
series to be issued.

     Each Security shall be dated the date of its authentication.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein manually executed by the Trustee for such Security or on its behalf
pursuant to Section 614, and such certificate upon any Security shall be conclusive evidence, and
the only evidence, that such Security has been duly authenticated and delivered hereunder.

     Each Depositary designated pursuant to Section 301 for a Global Security in registered form
must, at the time of its designation and at all times while it serves as Depositary, be a clearing
agency registered under the Exchange Act, and any other applicable statute or regulation.

     In case any Securities shall have been authenticated, but not delivered, by the Trustee or the
Authenticating Agent for such series then in office, any successor by merger, conversion or
consolidation to such Trustee, or any successor Authenticating Agent, as the case may be, may adopt
such authentication and deliver the Securities so authenticated with the same effect as if such
successor Trustee or successor Authenticating Agent had itself authenticated such Securities.

          SECTION 304 Temporary Securities and Exchange of Securities.

     Pending the preparation of definitive Securities of any particular series, the Company may
execute, and upon receipt of a Company Order the Trustee for the Securities of such series shall
authenticate and deliver, in the manner specified in Section 303, temporary Securities which are
printed, lithographed, typewritten, photocopied or otherwise produced, in any denomination, with
like terms and conditions as the definitive Securities of like series in lieu of which they are
issued in registered form and with such appropriate insertions, omissions, substitutions and other
variations as the officers executing such Securities may determine, as evidenced by their execution
of such

17

 

Securities. Any such temporary Securities may be in global form, representing such of the
Outstanding Securities of such series as shall be specified therein.

     Except in the case of temporary Securities in global form (which shall be exchanged only in
accordance with the provisions thereof), if temporary Securities of any particular series are
issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of such definitive Securities, the temporary Securities
of such series shall be exchangeable for such definitive Securities and of a like Stated Maturity
and with like terms and provisions upon surrender of the temporary Securities of such series, at
the office or agency of the Company in a Place of Payment for that series, without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities of any particular
series, the Company shall execute and (in accordance with a Company Order delivered at or prior to
the authentication of the first definitive Security of such series) the Trustee for the Securities
of such series shall authenticate and deliver in exchange therefor a like principal amount of
definitive Securities of authorized denominations of the same series and of a like Stated Maturity
and with like terms and provisions. Until exchanged as hereinabove provided, the temporary
Securities of any series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of the same series and with like terms and conditions, except as
to payment of interest, if any, authenticated and delivered hereunder.

     Any temporary Global Security and any permanent Global Security shall, unless otherwise
provided therein, be delivered to a Depositary designated pursuant to Section 301.

          SECTION 305 Registration, Registration of Transfer and Exchange.

     The Company shall cause to be kept at the Corporate Trust Office of the Trustee for the
Securities of each series a register (the register maintained in such office and in any other
office or agency of the Company in a Place of Payment being herein sometimes collectively referred
to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the registration of
Securities and of transfers of Securities. The Trustee for the Securities of each series is hereby
initially appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities of such series as herein provided.

     Upon surrender for registration of transfer of any Security of any particular series at the
office or agency of the Company in a Place of Payment for that series, the Company shall execute,
and the Trustee for the Securities of each series shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Securities of any authorized
denominations, and of a like Stated Maturity and of a like series and aggregate principal amount
and with like terms and conditions.

     At the option of the Holder, Securities of any particular series may be exchanged for other
Securities of any authorized denominations, and of a like Stated Maturity and of a like series and
aggregate principal amount and with like terms and conditions, upon surrender of the Securities to
be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange,
the Company shall execute, and the Trustee for such Securities shall authenticate and deliver, the
Securities which the Holder making the exchange is entitled to receive.

     Notwithstanding any other provision of this Section or Section 304, unless and until it is
exchanged in whole or in part for Securities in definitive form, a Global Security representing all
or a portion of the Securities of a series may not be transferred except as a whole by the
Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to
such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to
a successor Depositary for such series or a nominee of such successor Depositary.

     If at any time the Depositary for Securities of a series in registered form notifies the
Company that it is unwilling or unable to continue as Depositary for the Securities of such series
or if at any time the Depositary for the Securities of such series shall no longer be eligible
under Section 303, the Company shall appoint a successor Depositary with respect to the Securities
for such series. If (i) a successor Depositary for the Securities of such series is not appointed
by the Company within 90 days after the Company receives such notice or becomes aware of such
ineligibility, (ii) the Company delivers to the Trustee for Securities of such series in registered
form a Company Order stating that the Securities of such series shall be exchangeable, or (iii) an
Event of Default under Section 501 hereof has occurred and is continuing with respect to the
Securities of such series, the Company’s election pursuant

18

 

to Section 301 shall no longer be
effective with respect to the Securities for such series and the Company will execute, and the
Trustee, upon receipt of a Company Order for the authentication and delivery of definitive
Securities of such series, will authenticate and deliver Securities of such series in definitive
form in an aggregate principal amount equal to the principal amount of the Global Security or
Securities representing such series in exchange for such Global Security or Securities.

     The Company may at any time and in its sole discretion determine that the Securities of any
series issued in the form of one or more Global Securities shall no longer be represented by such
Global Security or Securities. In such event the Company will execute, and the Trustee, upon
receipt of a Company Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver, Securities of such series in definitive form and in an
aggregate principal amount equal to the principal amount of the Global Security or Securities
representing such series in exchange for such Global Security or Securities.

     If specified by the Company pursuant to Section 301 with respect to a series of Securities in
registered form, the Depositary for such series of Securities may surrender a Global Security for
such series of Securities in exchange in whole or in part for Securities of such series of like
tenor and terms and in definitive form on such terms as are acceptable to the Company and such
Depositary. Thereupon the Company shall execute, and the Trustee shall authenticate and deliver,
without service charge, (i) to each Person specified by such Depositary a new Security or
Securities of the same series, of like tenor and terms and of any authorized denomination as
requested by such Person in aggregate principal amount equal to and in exchange for such Person’s
beneficial interest in the Global Security; and (ii) to such Depositary a new Global Security of
like tenor and terms and in a denomination equal to the difference, if any, between the principal
amount of the surrendered Global Security and the aggregate principal amount of Securities
delivered to Holders thereof.

     Upon the exchange of a Global Security for Securities in definitive form, such Global Security
shall be canceled by the Trustee. Securities issued in definitive form in exchange for a Global
Security pursuant to this Section shall be registered in such names and in such authorized denominations as the Depositary
for such Global Security, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee in writing. The Trustee shall deliver such Security to the
persons in whose names such Securities are so registered.

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

     Every Security presented or surrendered for registration of transfer or exchange shall (if so
required by the Company or the Trustee for such Security) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar for
such series duly executed, by the Holder thereof or his or her attorney duly authorized in writing.

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Sections 304, 906 or 1107 not involving any transfer.

     The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of Securities of that series selected for redemption
under Section 1104 and ending at the close of business on the day of the mailing of the relevant
notice of redemption or (ii) to register the transfer of or exchange any Security so selected for
redemption as a whole or in part, except the unredeemed portion of any Security being redeemed in
part.

     Furthermore, notwithstanding any other provision of this Section 305, the Company will not be
required to exchange any Securities if, as a result of the exchange, the Company would suffer
adverse consequences under any United States law or regulation.

19

 

          SECTION 306 Mutilated, Destroyed, Lost and Stolen Securities.

     If (i) any mutilated Security is surrendered to the Trustee for such Security or the Company
and the Company receives evidence to its satisfaction of the destruction, loss or theft of any
Security and (ii) there is delivered to the Company and such Trustee such security or indemnity as
may be required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or such Trustee that such Security has been acquired by a
“protected purchaser” (as defined in Article 8 of the New York Uniform Commercial Code), the
Company shall execute and upon its request such Trustee shall authenticate and deliver, in lieu of
any such destroyed, lost or stolen Security or in exchange for such mutilated Security, a new
Security of the same series and in a like principal amount and of a like Stated Maturity and with
like terms and conditions and bearing a number not contemporaneously outstanding.

     In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security (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 for such Security such
security or indemnity as may be required by them to save each of them harmless, and in case of
destruction, loss or theft, evidence satisfactory to the Company and such Trustee and any agent of
either of them of the destruction, loss or theft of such Security and the ownership thereof.

     Upon the issuance of any new Security under this Section, 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 all fees and expenses of the Trustee for such Security)
connected therewith.

     Every new Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security or in exchange for any mutilated Security shall constitute an original
additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or
stolen Security shall be at any time enforceable by anyone, and each such new Security shall be at
any time enforceable by anyone, and each such new Security 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.

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

          SECTION 307 Payment of Interest; Interest Rights Preserved.

     Interest on any Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall, if so provided in such Security, be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest payment.

     Unless otherwise provided with respect to the Securities of any series, payment of interest
may be made at the option of the Company by check mailed or delivered to the address of the Person
entitled thereto as such address shall appear in the Security Register or by wire transfer or other
electronic means to an account maintained by the payee with a bank located inside the United
States.

     Notwithstanding the foregoing, a Holder of $1,000,000 or more in aggregate principal amount of
Securities of any series, whether having identical or different terms and provisions, having the
same Interest Payment Dates will, at the option of the Company, be entitled to receive interest
payments, other than at Maturity, by wire transfer of immediately available funds if appropriate
wire transfer instructions have been received in writing by the Trustee for the Securities of such
series at least 15 days prior to the applicable Interest Payment Date. Any wire instructions
received by the Trustee for the Securities of such series shall remain in effect until revoked by
the Holder.

     Unless otherwise provided or contemplated by Section 301, every permanent Global Security will
provide that interest, if any, payable on any Interest Payment Date will be paid to each of DTC or
Euroclear and Clearstream, as applicable with respect to that portion of such permanent Global
Security held for its account by the Depositary.

20

 

Each of DTC, Euroclear and Clearstream will in
such circumstances credit the interest received by it in respect of such permanent Global Security
to the accounts of the beneficial owners thereof.

     Any interest on any Security of any particular series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (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 may be paid by the Company, at its
election in each case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of that series (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 for the Securities of such series in writing of the amount of Defaulted Interest
proposed to be paid on each Security of that series and the date of the proposed payment,
and at the same time the Company shall deposit with such Trustee an amount of money in the
currency or currency unit in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 301 for the Securities of such series and except as
provided in Section 311(c)) equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to such 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 such Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall not be more than 15 days and not less than 10 days prior to
the date of the proposed payment and not less than 10 days after the receipt by such Trustee
of the notice of the proposed payment. Such 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 Holder of Securities of that
series at his or her address as it appears in the Security Register 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 the Securities of that series (or their respective Predecessor Securities) are
registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2).

     (2) The Company may make payment of any Defaulted Interest on Securities of any
particular series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice is given by the Company to the Trustee for the
Securities of such series of the proposed manner of payment pursuant to this clause, such
manner of payment shall be deemed practicable by such Trustee.

     Subject to the foregoing provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

          SECTION 308 Persons Deemed Owners.

     Prior to due presentment of a Security for registration of transfer, the Company, the Trustee
for such Security and any agent of the Company or such Trustee may treat the Person in whose name
any such Security is registered as the owner of such Security for the purpose of receiving payment
of principal of, and premium, if any, and (subject to Section 307) interest, if any, on such
Security and for all other purposes whatsoever, whether or not such Security be overdue, and none
of the Company, such Trustee or any agent of the Company or such Trustee shall be affected by
notice to the contrary.

     None of the Company, the Trustee, any Authenticating Agent, any Paying Agent or the Security
Registrar will have any responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

21

 

          SECTION 309 Cancellation.

     All Securities surrendered for payment, redemption, registration of transfer or exchange, or
delivered in satisfaction of any sinking fund payment, shall, if surrendered to any Person other
than the Trustee for such Securities, be delivered to such Trustee and shall be promptly canceled
by it in its customary manner. The Company may at any time deliver to the Trustee for Securities
of a series for cancellation any Securities previously authenticated and delivered hereunder which
the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
promptly canceled by such Trustee in its customary manner. Notwithstanding any other provision of
this Indenture to the contrary, in the case of a series, all the Securities of which are not to be
originally issued at one time, a Security of such series shall not be deemed to have been
Outstanding at any time hereunder if and to the extent that, subsequent to the authentication and
delivery thereof, such Security is delivered to the Trustee for such Security for cancellation by
the Company or any agent thereof upon the failure of the original purchaser thereof to make payment
therefor against delivery thereof, and any Security so delivered to such Trustee shall be promptly
canceled by it in its customary manner. No Securities shall be authenticated in lieu of or in
exchange for any Securities canceled as provided in this Section, except as expressly permitted by
this Indenture. All canceled Securities held by the Trustee for such Securities shall be disposed
of by such Trustee in accordance with its standard procedures and, upon the Company’s written
request, a certificate of disposition evidencing such disposition of Securities shall be provided
to the Company by such Trustee.

          SECTION 310 Computation of Interest.

     Except as otherwise specified as contemplated by Section 301 for Securities of any particular
series, interest on the Securities of each series shall be computed on the basis of a 360-day year
of twelve 30-day months.

          SECTION 311 Currency and Manner of Payments in Respect of Securities.

     Unless otherwise specified in accordance with Section 301 with respect to any series of
Securities, the following provisions shall apply:

     (a) Except as provided in paragraph (c) below, payment of the principal of (and
premium, if any) and interest, if any, on any Security of such series will be made in the
currency or currency unit in which such Security is payable.

     (b) With respect to any Securities of any series denominated in a Foreign Currency or
currency unit and payable in Dollars, the amount of Dollars so payable will be determined by
the Currency Determination Agent based on the indicative quotation in The City of New York
selected by the Currency Determination Agent at approximately 11:00 a.m., New York City
time, on the second Business Day preceding the applicable payment date that yields the
largest number of Dollars on conversion of Foreign Currency or currency units. Such
selection shall be made from among the quotations appearing on the bank composite or
multi-contributor pages of the Reuters Monitor Foreign Exchange Service or, if not
available, the Telerate Monitor Foreign Exchange Service, for three (or two if three are not
available) major banks in The City of New York. The first three (or two) such banks
selected by the Currency Determination Agent which are offering quotes on the Reuters
Foreign Exchange Service, as the case may be, shall be used. If such quotations are
unavailable from either such foreign exchange service, such selection shall be made from the
quotations received by the Currency Determination Agent from no more than three nor less
than two recognized foreign exchange dealers in The City of New York selected by the
Currency Determination Agent and approved by the Company (one of which may be the Currency
Determination Agent) for the purchase by the quoting dealer, for settlement on such payment
date, of the aggregate amount of the Foreign Currency or currency unit payable on such
payment date in respect of all Securities denominated in such Foreign Currency or currency
unit and for which the applicable dealer commits to execute a contract. If fewer than two
such bid quotations are available at 11:00 a.m., New York City time, on the second Business
Day preceding the applicable payment date, such payment will be based on the Market Exchange
Rate as of the second Business Day preceding the applicable payment date. If the Market
Exchange Rate for such date is not then available, payments shall be made in the Foreign
Currency or currency unit.

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     (c) If a Conversion Event occurs with respect to a Foreign Currency or currency unit in
which Securities of any series are payable, then with respect to each date for the payment
of principal of, and premium, if any, and interest on the Securities of that series
occurring after the last date on which such Foreign Currency or currency unit was used, the
Company may make such payment in Dollars. The Dollar amount to be paid by the Company to
the Trustee for the Securities of such series and by such Trustee or any Paying Agent for
the Securities of such series to the Holders of such Securities with respect to such payment
date shall be determined by the Currency Determination Agent on the basis of the Market
Exchange Rate as of the second Business Day preceding the applicable payment date or, if
such Market Exchange Rate is not then available, on the basis of the most recently available
Market Exchange Rate, or as otherwise established pursuant to Section 301 with respect to
such Notes. Any payment in respect of such Security made under such circumstances in
Dollars will not constitute an Event of Default hereunder.

     (d) For purposes of this Indenture the following term shall have the following meaning:

     A “Component Currency” shall mean any currency which is a component currency of any currency
unit.

     (e) Notwithstanding any other provisions of this Section 311, the following shall
apply: (i) if the official unit of any Component Currency is altered by way of combination
or subdivision, the number of units of that currency as a component shall be divided or
multiplied in the same proportion, (ii) if two or more Component Currencies are consolidated
into a single currency, the amounts of those currencies as components shall be replaced by
an amount in such single currency equal to the sum of the amounts of the consolidated
Component Currencies expressed in such a single currency, (iii) if any Component Currency is
divided into two or more currencies, the amount of that original Component Currency as a
component shall be replaced by the amounts of such two or more currencies having an
aggregate value on the date of division equal to the amount of the former Component Currency
immediately before such division and (iv) in the event of an official redenomination of any
currency (including, without limitation, a currency unit), the obligations of the Company to
make payments in or with reference to such currency on the Securities of any series shall,
in all cases, be deemed immediately following such redenomination to be obligations to make
payments in or with reference to that amount of redenominated currency representing the
amount of such currency immediately before such redenomination.

     (f) All determinations referred to in this Section 311 made by the Currency
Determination Agent shall be in its sole discretion and shall, in the absence of manifest
error, be conclusive for all purposes and irrevocably binding upon the Holders of the
applicable Securities. The Currency Determination Agent shall promptly give written notice
to the Trustee for the Securities of such series of any such decision or determination. The
Currency Determination Agent shall promptly give written notice to the Trustee of any such
decision or determination. The Currency Determination Agent shall have no liability for any
determinations referred to in this Section 311 made by it in the absence of willful
misconduct, bad faith or gross negligence.

     (g) The Trustee for the Securities of a particular series shall be fully justified and
protected in conclusively relying and acting upon information received by it from the
Company and the Currency Determination Agent with respect to any of the matters addressed in
or contemplated by this Section 311 and shall not otherwise have any duty or obligation to
determine such information independently.

          SECTION 312 Appointment and Resignation of Currency Determination Agent.

          (a) If and so long as the Securities of any series (i) are denominated in a currency unit or a
currency other than Dollars or (ii) may be payable in a currency unit or a currency other than
Dollars, or so long as it is required under any other provision of this Indenture, then the Company
shall maintain with respect to each such series of Securities, or as so required, a Currency
Determination Agent. The Company shall cause the Currency Determination Agent to make the
necessary foreign exchange determinations at the time and in the manner specified pursuant to
Section 301 for the purpose of determining the applicable rate of exchange and for the purpose of
converting the issued currency or currency unit into the applicable payment currency or currency
unit for the payment of principal, and premium, if any, and interest, if any, pursuant to Section
311.

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          (b) No resignation of the Currency Determination Agent and no appointment of a successor
Currency Determination Agent pursuant to this Section shall become effective until the acceptance
of appointment by the successor Currency Determination Agent as evidenced by a written instrument
delivered to the Company and the Trustee of the appropriate series of Securities accepting such
appointment executed by the successor Currency Determination Agent.

          (c) If the Currency Determination Agent shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of the Currency Determination Agent for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution,
shall promptly appoint a successor Currency Determination Agent or Currency Determination Agents
with respect to the Securities of that or those series (it being understood that any such successor
Currency Determination Agent may be appointed with respect to the Securities of one or more or all
of such series and that at any time there shall only be one Currency Determination Agent with
respect to the Securities of any particular series).

          SECTION 313 CUSIP and ISIN Numbers.

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

ARTICLE FOUR

DEFEASANCE; SATISFACTION AND DISCHARGE

          SECTION 401 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may, at the option of its Board of Directors evidenced by a Board Resolution, at
any time, with respect to the Securities of any series, unless otherwise specified pursuant to
Section 301 with respect to a particular series of Securities, elect to have either Section 402 or
403 be applied to all of the Outstanding Securities of that series upon compliance with the
conditions set forth below in this Article Four.

          SECTION 402 Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 401 of the option applicable to this Section 402,
the Company shall be deemed to have been discharged from its obligations with respect to all
Outstanding Securities of the particular series on the date the conditions set forth below are
satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that
the Company shall be deemed to have paid and discharged all the obligations relating to the
Outstanding Securities of that series and the Securities of that series shall thereafter be deemed
to be “outstanding” only for the purposes of Section 406, Section 408 and the other Sections of
this Indenture referred to below in this Section 402, and to have satisfied all of its other
obligations under such Securities and this Indenture and cured all then existing Events of Default
(and the Trustee, on written demand of and at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of outstanding Securities of the
particular series to receive payments in respect of principal of, and premium, if any, and
interest, if any, on such Securities when such payments are due or on the Redemption Date solely
out of the trust created pursuant to this Indenture; (b) the Company’s obligations with respect to
such Securities concerning issuing temporary Securities of that series, or, where relevant,
registration of such Securities, mutilated, destroyed, lost or stolen Securities of that series and
the maintenance of an office or agency for payment and money for Security payments held in trust;
(c) the rights, powers, trusts, duties and immunities of the Trustee for the Securities of that
series, and the Company’s obligations in connection therewith; and (d) this Article Four and the
obligations set forth in Section 406 hereof.

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     Subject to compliance with this Article Four, the Company may exercise its option under
Section 402 notwithstanding the prior exercise of its option under Section 403 with respect to the
Securities of a particular series.

          SECTION 403 Covenant Defeasance.

     Upon the Company’s exercise under Section 401 of the option applicable to this Section 403,
the Company shall be released from any obligations under the covenants contained in Sections 704,
801, 1007 and 1008 hereof with respect to the Outstanding Securities of the particular series on
and after the date the conditions set forth below are satisfied (hereinafter, “Covenant
Defeasance”), and the Securities of that series shall thereafter be deemed not “Outstanding” for
the purposes of any direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed
“Outstanding” for all other purposes hereunder (it being understood that such Securities shall not
be deemed outstanding for accounting purposes). For this purpose, such Covenant Defeasance means
that, with respect to the Outstanding Securities of that series, the Company may omit to comply
with and shall have no liability in respect of any term, condition or limitation set forth in any
such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any
such covenant or by reason of any reference in any such covenant to any other provision herein or
in any other document and such omission to comply shall not constitute a default or Event of
Default under subsection 501(3) but, except as specified above, the remainder of this Indenture and
the Securities of that series shall be unaffected thereby.

          SECTION 404 Conditions to Legal or Covenant Defeasance.

     The following shall be the conditions to the application of either Section 402 or Section 403
to the outstanding Securities of a particular series:

     (a) the Company must irrevocably deposit, or cause to be irrevocably deposited, with
the Trustee for the Securities of that series, in trust, for the benefit of the Holders of
the Securities of that series, cash in the currency or currency unit in which the Securities
of that series are payable (except as otherwise specified pursuant to Section 301 for the
Securities of that series and except as provided in Section 311(c), in which case the
deposit to be made with respect to Securities for which a Conversion Event has occurred as
provided in Section 311(c), shall be made in the currency or currency unit in which the
Securities of that series are payable as a result of a Conversion Event), Government
Obligations or a combination thereof in such amounts as will be sufficient, in the opinion
of an internationally recognized firm of independent public accountants, to pay principal,
and premium, if any, and interest, if any, due on the outstanding Securities of that series
at the Stated Maturity, or on the applicable Redemption Date, as the case may be, with
respect to the outstanding Securities of that series;

     (b) in the case of Legal Defeasance, the Company shall have delivered to the Trustee
for the Securities of that series an Opinion of Counsel in the United States reasonably
acceptable to such Trustee confirming that, subject to customary assumptions and exclusions,
(1) the Company has received from, or there has been published by, the U.S. Internal Revenue
Service a ruling or (2) since the Issue Date, there has been a change in the applicable U.S.
federal income tax law, and that, as a result of such ruling or change in law, the Holders
of the Outstanding Securities of that series will not recognize income, gain or loss for
U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to
U.S. federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred;

     (c) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee
for the Securities of that series an Opinion of Counsel in the United States reasonably
acceptable to such Trustee confirming that, subject to customary assumptions and exclusions,
the Holders of the Outstanding Securities of that series will not recognize income, gain or
loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and will
be subject to U.S. federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such Covenant Defeasance had not occurred;

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     (d) no Event of Default or event which with the giving of notice or the lapse of time,
or both, would become an Event of Default with respect to the Securities of that series
shall have occurred and be continuing on the date of such deposit after giving effect to
such Legal Defeasance or Covenant Defeasance and no Event of Default under Section 501(4) or
Section 501(5) shall have occurred and be continuing on the 91st day after such date;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under any material agreement or instrument to which
the Company is a party or by which the Company is bound; and

     (f) the Company shall have delivered to the Trustee for the Securities of that series
an Officers’ Certificate and an Opinion of Counsel in the United States (which Opinion of
Counsel may be subject to customary assumptions and exclusions) each stating that all
conditions precedent provided for or relating to the Legal Defeasance or the Covenant
Defeasance, as the case may be, have been complied with.

          SECTION 405 Satisfaction and Discharge of Indenture.

     This Indenture will be discharged and will cease to be of further effect as to all Securities
of any particular series issued hereunder when either (i) all Securities of that series theretofore
authenticated and delivered (except (A) lost, stolen or destroyed Securities of such series which
have been replaced or paid as provided in Section 306 and (B) Securities of such series for whose
payment money has theretofore been deposited in trust and thereafter repaid to the Company or
discharged from such trust, as provided in the last paragraph of Section 1003) have been delivered
to the Trustee for the Securities of that series for cancellation or (ii) (A) all Securities of
that series not theretofore delivered to Trustee for cancellation are due and payable by their
terms within one year or have become due and payable by reason of the making of a notice of
redemption and the Company has irrevocably deposited or caused to be deposited with such Trustee as
trust funds in trust an amount of cash in any combination of currency or currency unit in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 301 for
the Securities of such series and except as provided in Section 311(c), in which case the deposit
to be made with respect to Securities for which or a Conversion Event has occurred as provided in
Section 311(c), shall be made in the currency or currency unit in which such Securities are payable
as a result of a Conversion Event) sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for the Securities of that series for
cancellation of principal, and premium, if any, and accrued and unpaid interest, if any, to the
Stated Maturity or Redemption Date, as the case may be; and (B) the Company has delivered
irrevocable instructions to the Trustee for the Securities of that series under this Indenture to
apply the deposited money toward the payment of such Securities at the Stated Maturity or the
Redemption Date, as the case may be. In addition, the Company must deliver an Officers’
Certificate and an Opinion of Counsel to the Trustee for the Securities of that series stating that
all conditions precedent to satisfaction and discharge have been satisfied.

          SECTION 406 Survival of Certain Obligations.

     Notwithstanding the satisfaction and discharge of this Indenture and of the Securities of a
particular series referred to in Sections 401, 402, 404, or 405, the respective obligations of the
Company and the Trustee for the Securities of a particular series under Sections 303, 304, 305,
307, 309, 407, 408, 409, 410, and 508, Article Six, and Sections 701, 702, 1002, 1003, 1004 and
1006, shall survive with respect to Securities of that series until the Securities of that series
are no longer outstanding, and thereafter the obligations of the Company and the Trustee for the
Securities of a particular series with respect to that series under Sections 407, 408, 409, and 410
shall survive. Nothing contained in this Article Four shall abrogate any of the obligations or
duties of the Trustee of any series of Securities under this Indenture.

     Notwithstanding the satisfaction of the conditions set forth in Sections 404 or 405 with
respect to all the Securities of any series not payable in Dollars, upon the happening of any
Conversion Event the Company shall be obligated to make the payments in Dollars required by Section
311(c) to the extent that the Currency Determination Agent is unable to convert any Foreign
Currency or currency unit in its possession pursuant to Sections 404 or 405 into the Dollar
equivalent of such Foreign Currency or currency unit, as the case may be. If, after the deposits
referred to in Sections 404 or 405 have been made, a Conversion Event occurs as contemplated in
Section 311(c), then the indebtedness represented by such Security shall be fully discharged to the
extent that the deposit made with respect

26

 

to such Security shall be converted into the currency or currency unit in which such
Security is payable. The Trustee shall return to the Company any non-converted funds or securities
in its possession after such payments have been made.

          SECTION 407 Acknowledgment of Discharge by Trustee.

     Subject to Section 410, after (i) the conditions of Section 404 or 405 have been satisfied
with respect to the Securities of a particular series, (ii) the Company has paid or caused to be
paid all other sums payable hereunder by the Company and (iii) the Company has delivered to the
Trustee for the Securities of that series an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent referred to in clause (i) above relating to the satisfaction
and discharge of this Indenture have been complied with, the Trustee for the Securities of that
series upon written request shall acknowledge in writing the discharge of all of the Company’s
obligations under this Indenture except for those surviving obligations specified in this Article
Four.

          SECTION 408 Application of Trust Moneys.

     All money and Government Obligations deposited with the Trustee for the Securities of a
particular series pursuant to Section 404 or 405 in respect of the Securities of that series shall
be held in trust and applied by it, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any Paying Agent as the Trustee may
determine, to the Holders of the Securities of all sums due and to become due thereon for
principal, and premium, if any, and interest, if any, but such money need not be segregated from
other funds except to the extent required by law.

     The Company shall pay and indemnify the Trustee for the Securities of a particular series
against any tax, fee or other charge imposed on or assessed against the Government Obligations
deposited pursuant to Section 404 or 405 with respect to the Securities of that series or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of outstanding Securities of that series.

          SECTION 409 Repayment to the Company; Unclaimed Money.

     The Trustee and any Paying Agent for a series of Securities shall promptly pay or return to
the Company upon Company Order any cash or Government Obligations held by them at any time that are
not required for the payment of principal of, and premium, if any, and interest, if any, on the
Securities for that series for which cash or Government Obligations have been deposited pursuant to
Section 404 or 405.

     Any money deposited with the Trustee or any Paying Agent for the Securities of any series, or
then held by the Company, in trust for the payment of principal of, and premium, if any, and
interest, if any, on any Security of any particular series and remaining unclaimed for two years
after such principal and premium, if any, and interest, if any, has become due and payable shall,
unless otherwise required by mandatory provisions of applicable escheat, or abandoned or unclaimed
property law, be paid to the Company on Company Request or (if then held by the Company) shall be
discharged from such trusts; and the Holder of such Security shall, thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all liability of such Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that such Trustee or such Paying Agent, before
being required to make any such repayment shall give written notice to the Holder of such Security
in the manner set forth in Section 106, that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will, unless otherwise required by mandatory
provisions of applicable escheat, or abandoned or unclaimed property law, be repaid to the Company,
as the case may be.

          SECTION 410 Reinstatement.

     If the Trustee or Paying Agent for a series of Securities is unable to apply any cash or
Government Obligations, as applicable, in accordance with Section 402, 403, 404 or 405 by reason of
any legal proceeding or by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, the obligations of the Company
and the Guarantor (in the case of Guaranteed Securities) under this

27

 

Indenture and the Securities of that series and any related Guarantee shall be revived and
reinstated as though no deposit had occurred pursuant to Section 402, 403, 404 or 405 until such
time as the Trustee or Paying Agent for that series is permitted to apply all such cash or
Government Obligations in accordance with Section 402, 403, 404 or 405; provided, however, that if
the Company has made any payment of principal of, and premium, if any, and interest, if any, on any
Securities because of the reinstatement of its obligations, the Company shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the cash or Government
Obligations, as applicable, held by such Trustee or Paying Agent.

ARTICLE FIVE

REMEDIES

          SECTION 501 Events of Default.

     “Event of Default” wherever used herein with respect to any particular series of Securities
means any one of the following events and such other events as may be established with respect to
the Securities of such series as contemplated by Section 301 (whatever the reason for such Event of
Default and whether it shall be voluntary or involuntary or be effected by operation of law
pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

     (1) default in the payment of any installment of interest upon any Security of that
series when it becomes due and payable, and continuance of such default for a period of 30
days; or

     (2) default in the payment of principal of, or premium, if any, on any Security of that
series at its Maturity or default in the deposit of any sinking fund payment when and as due
by the terms of any Security of that series; or

     (3) default in the performance of, or breach of, any covenant or warranty of the
Company in respect of any Security of that series contained in this Indenture or in such
Securities (other than a covenant or warranty a default in whose performance or whose breach
is elsewhere in this Section specifically dealt with) or in the applicable Board Resolution
under which such series is issued as contemplated by Section 301 and continuance of such
default or breach for a period of 90 days after there has been given, by registered or
certified mail, to the Company by the Trustee for the Securities of such series or to the
Company and such Trustee by the Holders of at least 25% in principal amount of the
Outstanding Securities of that series, a written notice specifying such default or breach
and requiring it to be remedied and stating that such notice is a “Notice of Default”
hereunder; or

     (4) the Company shall commence any case or proceeding seeking to have an order for
relief entered on its behalf as debtor or to adjudicate it as bankrupt or insolvent or
seeking reorganization, liquidation, dissolution, winding-up, arrangement, composition or
readjustment of its debts or any other relief under any bankruptcy, insolvency,
reorganization, liquidation, dissolution, arrangement, composition, readjustment of debt or
other similar act or law of any jurisdiction, domestic or foreign, now or hereafter
existing; or the Company shall apply for a receiver, custodian or trustee (other than any
trustee appointed as a mortgagee or secured party in connection with the issuance of
indebtedness for borrowed money of the Company) of it or for all or a substantial part of
its property; or the Company shall make a general assignment for the benefit of creditors;
or the Company shall take any corporate action in furtherance of any of the foregoing; or

     (5) an involuntary case or other proceeding shall be commenced against the Company with
respect to it or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect seeking the appointment of a trustee, receiver, liquidator, custodian or
similar official of it or any substantial part of its property; and such case or other
proceeding (A) results in the entry of an order for relief or a similar order against it or
(B) shall continue unstayed and in effect for a period of 60 consecutive days; or

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     (6) any other Event of Default provided in the Security or the Board Resolution with
respect to Securities of that series.

          SECTION 502 Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default with respect to any particular series of Securities occurs and is
continuing (other than an Event of Default described in Section 501(4) or 501(5)), then and in
every such case either the Trustee for the Securities of such series or the Holders of not less
than 25% in principal amount of the Outstanding Securities of that series may declare the entire
principal amount (or, in the case of (i) OID Securities, such lesser amount as may be provided for
in the terms of that series or (ii) Indexed Securities, the amount determined in accordance with
the specified terms of those Securities) of all the Securities of that series to be due and payable
immediately, by a notice in writing to the Company (and to such Trustee if given by Holders), and
upon any such declaration of acceleration such principal or such lesser amount, as the case may be,
together with accrued interest and all other amounts owing hereunder, shall become immediately due
and payable, without presentment, demand, protest or notice of any kind, all of which are hereby
expressly waived.

     If any Event of Default specified in Section 501(4) or 501(5) occurs with respect to the
Company, all of the unpaid principal amount (or, if the Securities of any series then outstanding
are (i) OID Securities, such lesser amount as may be provided for in the terms of that series or
(ii) Indexed Securities, the amount determined in accordance with the specified terms of those
Securities) and accrued interest on all Securities of each series then Outstanding shall ipso facto
become and be immediately due and payable without any declaration or other act by the Trustee or
any Holder.

     Notwithstanding anything herein to the contrary, to the extent elected by the Company, the
sole remedy for an Event of Default relating to the failure by the Company to comply with the
obligation set forth in Section 704 will, for the first 120 days after the occurrence of such an
Event of Default, consist exclusively of the right for Holders of each series of Securities to
receive additional interest on the Securities of that particular series equal to 0.25% per annum of
the principal amount of the Securities of such series. If the Company so elects, such additional
interest will be payable in the same manner and on the same dates as the stated Interest Payment
Dates on the Securities of that particular series. The additional interest will accrue on all
outstanding Securities from and including the date on which such Event of Default first occurs to,
but not including, the 120th day thereafter (or such earlier date on which such Event of Default
shall have been cured or waived by Holders as provided in Section 513). On such 120th day after
such Event of Default (if the Event of Default relating to such obligation is not cured or waived
by Holders as provided in Section 513 prior to such 120th day), such additional interest will cease
to accrue and the Securities will be subject to acceleration as provided above. The provisions of
this paragraph will not affect the rights of Holders in the event of the occurrence of any other
Event of Default. In the event the Company does not elect to pay the additional interest upon
such Event of Default in accordance with this paragraph, the Securities will be subject to
acceleration as provided above.

     In order to elect to pay the additional interest as the sole remedy during the first 120 days
after the occurrence of an Event of Default relating to the failure by the Company to comply with
the obligation set forth in Section 704 in accordance with the immediately preceding paragraph, the
Company must notify all Holders of each series of Securities, the Trustee for the Securities of
such series and the Paying Agent for the Securities of such series of such election by delivering
to the Trustee an Officers’ Certificate as provided below on or before the close of business on the
date on which such Event of Default first occurs. Upon the Company’s failure to deliver such
Officers’ Certificate or pay the additional interest specified in the immediately preceding
paragraph, the Securities will be subject to acceleration as provided above.

     If the Company elects to pay additional interest, the Company shall deliver to the Trustee an
Officers’ Certificate to that effect stating that (i) the amount of such additional interest that
is payable and (ii) the date on which such additional interest is payable. Unless and until a
Responsible Officer of the Trustee receives such certificate, the Trustee may assume without
inquiry that no additional interest is payable. If the Company has paid additional interest
directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officers’
Certificate setting forth the particulars of such payment.

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     At any time after such a declaration of acceleration has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee for the Securities of any
series as hereinafter in this Article provided, the Holders of a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company and such Trustee, may
rescind and annul such declaration and its consequences if:

     (1) the Company has paid or deposited with such Trustee a sum sufficient to pay in the
currency or currency unit in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 301 for the Securities of such series and except as
provided in Section 311(c)):

     (A) all overdue interest, if any, on all Securities of that series;

     (B) the principal of, and premium, if any, on any Securities of that series
which have become due otherwise than by such declaration of acceleration and
interest thereon from the date such principal became due at a rate per annum equal
to the rate borne by the Securities of such series (or, in the case of (i) OID
Securities, the Securities’ Yield to Maturity or (ii) Indexed Securities, the rate
determined in accordance with the specified terms of those Securities), to the
extent that the payment of such interest shall be legally enforceable;

     (C) to the extent that payment of such interest is lawful, interest upon
overdue interest at a rate per annum equal to the rate borne by the Securities of
such series (or, in the case of (i) OID Securities, the Securities’ Yield to
Maturity or (ii) Indexed Securities, the rate determined in accordance with the
specified terms of those Securities); and

     (D) all sums paid or advanced by such Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of such Trustee, its agents and
counsel and all other amounts due to such Trustee under Section 607;

     and

     (2) all Events of Default with respect to the Securities of such series, other than the
nonpayment of the principal of Securities of that series which has become due solely by such
acceleration, have been cured or waived as provided in Section 513.

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

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

     The Company covenants that if:

     (1) default is made in the payment of any interest upon any Security of any series when
such interest becomes due and payable and such default continues for a period of 30 days; or

     (2) default is made in the payment of principal of, or premium, if any, on any Security
of any series at its Maturity;

the Company will, upon demand of the Trustee for the Securities of such series, pay to it, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities
for principal, premium, if any, and interest, if any, with interest upon the overdue principal and
premium, if any, and, to the extent that payment of such interest shall be legally enforceable,
upon any overdue installments of interest at a rate per annum equal to the rate borne by such
Securities (or, in the case of (i) OID Securities, the Securities’ Yield to Maturity or (ii)
Indexed Securities, the rate determined in accordance with the specified terms of those
Securities); and, in addition thereto, such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of such Trustee (including the compensation and reasonable expenses and disbursements
of its agents and counsel) and all other amounts due to such Trustee under Section 607.

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     If the Company fails to pay such amounts forthwith upon such demand, such Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may
enforce the same against the Company, the Guarantor (in the case of Guaranteed Securities) or any
other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the
manner provided by law out of the property of the Company, the Guarantor (in the case of Guaranteed
Securities) or any other obligor upon the Securities, wherever situated.

     If an Event of Default with respect to Securities of any particular series occurs and is
continuing, the Trustee for the Securities of such series may in its discretion proceed to protect
and enforce its rights and the rights of the Holders of Securities of that series by such
appropriate judicial proceedings as such Trustee shall deem most effectual to protect and enforce
any such rights, whether for the specific enforcement of any covenant or agreement in this
Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper
remedy.

          SECTION 504 Trustee May File Proofs of Claim.

     In case of any judicial proceeding relative to the Company, the Guarantor (in the case of
Guaranteed Securities) or any other obligor upon the Securities of any series, or the property of
the Company, the Guarantor (in the case of Guaranteed Securities) or of such other obligor or their
creditors, the Trustee for the Securities of such series irrespective of whether the principal (or,
if the Securities of such series are (i) OID Securities or (ii) Indexed Securities, such amount as
may be due and payable with respect to such Securities pursuant to a declaration in accordance with
Section 502) on any Security of such series shall then be due and payable as therein expressed or
by declaration or otherwise and irrespective of whether such Trustee shall have made any demand on
the Company or the Guarantor (in the case of Guaranteed Securities) for the payment of overdue
principal or interest shall be entitled and empowered, by intervention in such proceeding or
otherwise:

     (i) to file and prove a claim for the whole amount of principal (or, if the Securities
of such series are (i) OID Securities or (ii) Indexed Securities, such amount as may be due
and payable with respect to such Securities pursuant to a declaration in accordance with
Section 502), premium, if any, and interest, if any, owing and unpaid in respect of the
Securities of such series and to file such other papers or documents as may be necessary or
advisable in order to have the claims of such Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of such Trustee (including the
compensation and reasonable expenses and disbursements of its agents and counsel) and all
other amounts due to such Trustee under Section 607) and of the Holders of the Securities of
such series allowed in such judicial proceeding;

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

     (iii) unless prohibited by law or applicable regulations, to vote on behalf of the
Holders of the Securities of such series in any election of a trustee in bankruptcy or other
person performing similar functions;

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

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

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          SECTION 505 Trustee May Enforce Claims Without Possession of Securities.

     All rights of action and claims under this Indenture or the Securities of any series may be
prosecuted and enforced by the Trustee for the Securities of any series without the possession of
any of the Securities of such series or the production thereof in any proceeding relating thereto,
and any such proceeding instituted by such Trustee shall be brought in its own name as trustee of
an express trust, and any recovery of judgment shall, after provision for the payment of the
reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and
counsel and all other amounts due to such Trustee under Section 607, be for the ratable benefit of
the Holders of the Securities of such series in respect of which such judgment has been recovered.

          SECTION 506 Application of Money Collected.

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

          FIRST: to the payment of all amounts due such Trustee under Section 607;

     SECOND: to the payment of the amounts then due and unpaid upon the Securities of such
series for principal of, and premium, if any, and interest, if any, on such Securities 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, if any, respectively; and

     THIRD: the balance, if any, to the Company or as a court of competent jurisdiction may
direct.

          SECTION 507 Limitation on Suits.

     No Holder of any Security of any particular series shall have any right to institute any
proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a
receiver or trustee, or for any other remedy hereunder, unless:

     (1) an Event of Default with respect to that series shall have occurred and be
continuing and such Holder shall have previously given written notice to the Trustee for the
Securities of such series of such default and the continuance thereof;

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities
of that series shall have made written request to the Trustee for the Securities of such
series to institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

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

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

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

it being understood and intended that no one or more Holders of Securities of that series shall
have any right in any manner whatsoever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of that
series, or to obtain or seek to obtain priority or preference over any

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other of such Holders of Securities of that series or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all the Holders of
Securities of that series (it being understood that the Trustee does not have an affirmative duty
to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders).

          SECTION 508 Unconditional Right of Holders to Receive Principal, Premium, if any, and Interest, if any.

     Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right which is absolute and unconditional to receive payment of principal of, and premium, if
any, and (subject to Section 307) interest, if any, on such Security on the respective Stated
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment, and such right shall not be impaired
without the consent of such Holder.

          SECTION 509 Restoration of Rights and Remedies.

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

          SECTION 510 Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy
herein conferred upon or reserved to the Trustee for the Securities of any series or to the Holders
of Securities is intended to be exclusive of any other right or remedy, and every right and remedy
shall, to the extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy.

          SECTION 511 Delay or Omission Not Waiver.

     No delay or omission of the Trustee for the Securities of any series or of any Holder of any
Security of such series to exercise any right or remedy accruing upon any Event of Default with
respect to the Securities of such series shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to such Trustee for the Securities of any series or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by such Trustee or by the
Holders, as the case may be.

          SECTION 512 Control by Holders.

     The Holders of not less than a majority in principal amount of the Outstanding Securities of
any particular series shall have the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee for the Securities of such series with respect
to the Securities of that series or exercising any trust or power conferred on such Trustee with
respect to such Securities, provided that:

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

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

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          SECTION 513 Waiver of Past Defaults.

     The Holders of more than 50% in principal amount of the Outstanding Securities of any
particular series may on behalf of the Holders of all the Securities of that series waive any past
default hereunder with respect to that series and its consequences, except:

     (1) a default in the payment of principal of, or premium, if any, or interest, if any,
on any Security of that series; or

     (2) a default with respect to a covenant or provision hereof which under Article Nine
cannot be modified or amended without the consent of the Holder of each Outstanding Security
of that series affected.

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

          SECTION 514 Undertaking for Costs.

     All parties to this Indenture agree, and each Holder of any Security by his or her acceptance
thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit
for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for the Securities of any series 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 and
expenses, against any party litigant in such suit, having due regard to the merits and good faith
of the claims or defenses made by such party litigant; but the provisions of this Section shall not
apply to any suit instituted by the Trustee for the Securities of any series, to any suit
instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal
amount of the Outstanding Securities of any particular series or to any suit instituted by any
Holder of any Security for the enforcement of the payment of principal of, or premium, if any, or
interest, if any, on any Security of such series on or after the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on or after the Redemption Date).

          SECTION 515 Judgment Currency.

     If, for the purpose of obtaining a judgment in any court with respect to any obligation of the
Company hereunder or under any Security, it shall become necessary to convert any amount in the
currency or currency unit due hereunder or under such Security into any other currency or currency
unit, then such conversion shall be made by the Currency Determination Agent at the Market Exchange
Rate as in effect on the date of entry of the judgment (the “Judgment Date”). If pursuant to any
such judgment, conversion shall be made on a date (the “Substitute Date”) other than the Judgment
Date and there shall occur a change between the Market Exchange Rate as in effect on the Judgment
Date and the Market Exchange Rate as in effect on the Substitute Date, the Company agrees to pay
such additional amounts (if any) as may be necessary to ensure that the amount paid is equal to the
amount in such other currency or currency unit which, when converted at the Market Exchange Rate as
in effect on the Judgment Date, is the amount due hereunder or under such Security. Any amount due
from the Company under this Section 515 shall be due as a separate debt and is not to be affected
by or merged into any judgment being obtained for any other sums due hereunder or in respect of any
Security. In no event, however, shall the Company be required to pay more in the currency or
currency unit due hereunder or under such Security at the Market Exchange Rate as in effect on the
Judgment Date than the amount of currency or currency unit stated to be due hereunder or under such
Security so that in any event the Company’s obligations hereunder or under such Security will be
effectively maintained as obligations in such currency or currency unit, and the Company shall be
entitled to withhold (or be reimbursed for, as the case may be) any excess of the amount actually
realized upon any such conversion on the Substitute Date over the amount due and payable on the
Judgment Date.

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ARTICLE SIX

THE TRUSTEE

          SECTION 601 Certain Duties and Responsibilities.

          (a) Except during the continuance of an Event of Default with respect to the Securities of any
series for which the Trustee is serving as such,

          (1) such Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or obligations shall
be read into this Indenture against such Trustee; and

          (2) in the absence of bad faith on its part, such Trustee may conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed therein,
upon certificates or opinions furnished to such Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions
which by any provisions hereof are specifically required to be furnished to such
Trustee, such Trustee shall be under a duty to examine the same to determine whether or
not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of mathematical calculations or other facts stated therein).

          (b) In case an Event of Default with respect to a series of Securities has occurred and is
continuing, the Trustee for the Securities of such series shall exercise 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 person would exercise or use under the circumstances in the conduct of his or her own
affairs.

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

          (1) this Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;

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

          (3) such Trustee shall not be liable with respect to any action taken, suffered 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 Outstanding Securities of any
particular series, determined as provided in Section 512, relating to the time, method
and place of conducting any proceeding for any remedy available to such Trustee, or
exercising any trust or power conferred upon such Trustee, under this Indenture with
respect to the Securities of that series; and

          (4) no provision of this Indenture shall require the Trustee for any series of
Securities to expend or risk its own funds or otherwise incur any financial liability in
the performance of any of its duties hereunder or in the exercise of any of its rights
or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to
it.

          (d) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee for any series
of Securities shall be subject to the provisions of this Section.

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          SECTION 602 Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to Securities of any
particular series, the Trustee for the Securities of such series shall give to Holders of
Securities of that series, in the manner set forth in Section 106, notice of such default known to
such Trustee, unless such default shall have been cured or waived; provided, however, that, except
in the case of a default in the payment of principal of, or premium, if any, or interest, if any,
on any Security of that series, or in the deposit of any sinking fund payment with respect to
Securities of that series, such 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 such Trustee in good faith determines that the withholding of such notice
is in the interest of the Holders of Securities of that series; and provided, further, that in the
case of any default of the character specified in Section 501(3) with respect to Securities of that
series no such notice to Holders shall be given until at least 60 days after the occurrence
thereof. For the purpose of this Section, the term “default” means any event which is, or after
notice or lapse of time or both would become, an Event of Default with respect to Securities of
that series.

          SECTION 603 Certain Rights of Trustee.

     Except as otherwise provided in Section 601:

     (a) the Trustee for any series of Security may conclusively rely and shall be protected
in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture, note, other
evidence of indebtedness 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 or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

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

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

     (e) such Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders of
Securities of any series pursuant to this Indenture for which it is acting as Trustee,
unless such Holders shall have offered to such Trustee security or indemnity satisfactory to
it in its sole discretion against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction;

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

     (g) such 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 such 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;

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     (h) the Trustee shall not be charged with knowledge of any default or Event of Default
with respect to the Securities unless either (1) a Responsible Officer shall have actual
knowledge of such default or Event of Default or (2) written notice of such default or Event
of Default shall have been given to the Trustee by the Company or by any Holder of the
Securities at the Corporate Trust Office of the Trustee and such notice references the
Securities and this Indenture. Notwithstanding the foregoing, the Trustee should be deemed
to have knowledge of any default or Event of Default with respect to matters set forth in
Sections 501(1) and 501(2);

     (i) the Trustee shall not be liable for any action taken, suffered or omitted 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; provided that the Trustee’s conduct does not constitute
gross negligence or willful misconduct;

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

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

     (l) the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder; and

     (m) the Trustee may request that the Company deliver a certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture.

          SECTION 604 Not Responsible for Recitals or Issuance of Securities.

     The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication thereof, shall be taken as the statements of the Company, and neither the Trustee
for any series of Securities, nor any Authenticating Agent assumes any responsibility for their
correctness. The Trustee for any series of Securities makes no representations as to the validity
or sufficiency of this Indenture or of the Securities of any series. Neither the Trustee for any
series of Securities nor any Authenticating Agent shall be accountable for the use or application
by the Company of Securities or the proceeds thereof.

          SECTION 605 May Hold Securities.

     The Trustee for any series of Securities, any Authenticating Agent, Paying Agent, Security
Registrar or any other agent of the Company or such Trustee, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may
otherwise deal with the Company with the same rights it would have if it were not such Trustee,
Authenticating Agent, Paying Agent, Security Registrar or such other agent.

          SECTION 606 Money Held in Trust.

     Money held by the Trustee for any series of Securities in trust hereunder need not be
segregated from other funds except as provided in Section 115 and except to the extent required by
law. The Trustee for any series of Securities shall be under no liability for interest on any
money received by it hereunder except as otherwise agreed in writing with the Company.

          SECTION 607 Compensation and Reimbursement.

     The Company agrees:

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     (1) to pay to the Trustee for any series of Securities from time to time such
compensation in Dollars and reimburse the Trustee for the expenses, disbursements and
advances agreed in writing between the Company and the Trustee for all services rendered by
it hereunder (which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

     (2) except as otherwise expressly provided herein, to reimburse the Trustee for any
series of Securities in Dollars upon its request for all reasonable expenses, disbursements
and advances incurred or made by such Trustee in accordance with any provision of this
Indenture (including the compensation and reasonable expenses and disbursements of its
agents and counsel), except any such expense, disbursement or advance as may be attributable
to its gross negligence or willful misconduct; and

     (3) to indemnify such Trustee and its officers, directors, employees, representatives
and agents, in any of its capacities hereunder and with respect to any particular series, in
Dollars for, and to hold it harmless against, any and all loss, liability, damage, claim or
expense including taxes (other than taxes based on income of the Trustee) incurred without
gross negligence or willful misconduct on its part, arising out of or in connection with the
acceptance or administration of this trust, including the costs and expenses of defending
itself against any claim (whether asserted by the Company, a Holder or any other person) or
liability in connection with the exercise or performance of any of its powers or duties
hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of
its obligations hereunder, except to the extent the Company is materially prejudiced by such
failure. The Trustee may have separate counsel in defending any such claim and the Company
shall pay the fees and reasonable expenses of such counsel. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld.

     As security for the performance of the obligations of the Company under this Section the
Trustee for any series of Securities shall have a lien prior to the Securities upon all property
and funds held or collected by such Trustee as such.

     When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 501(4) or (5), the expenses and the compensation for the services are intended
to constitute expenses of administration under any bankruptcy law.

     The Company’s obligations under this Section 607 and any lien arising hereunder shall survive
the resignation or removal of the Trustee, the discharge of the Company’s obligations pursuant to
Article Four of this Indenture and/or the termination of this Indenture. The Trustee shall comply
with the provisions of Section 313(b)(2) of the Trust Indenture Act to the extent applicable.

          SECTION 608 Disqualification; Conflicting Interests.

     The Trustee for the Securities shall be subject to the provisions of Section 310(b) of the
Trust Indenture Act during the period of time required thereby. Nothing herein shall prevent the
Trustee from filing with the Commission the application referred to in the penultimate paragraph of
Section 310(b) of the Trust Indenture Act. In determining whether the Trustee has a conflicting
interest as defined in Section 310(b) of the Trust Indenture Act with respect to the Securities of
any series, there shall be excluded Securities of any particular series of Securities other than
that series.

          SECTION 609 Corporate Trustee Required; Different Trustees for Different Series; Eligibility.

     There shall at all times be a Trustee hereunder which shall be

     (i) a corporation organized and doing business under the laws of the United States of
America, any state thereof, or the District of Columbia, authorized under such laws to
exercise corporate trust powers, and subject to supervision or examination by federal or
State authority, or

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     (ii) a corporation or other Person organized and doing business under the laws of a
foreign government that is permitted to act as Trustee pursuant to a rule, regulation, or
other order of the Commission, authorized under such laws to exercise corporate trust
powers, and subject to supervision or examination by authority of such foreign government or
a political subdivision thereof substantially equivalent to supervision or examination
applicable to United States institutional trustees,

having a combined capital and surplus of at least $50,000,000. If such corporation publishes
reports of condition at least annually, pursuant to law or to requirements of the aforesaid
supervising or examining authority, then for the purposes of this Section and to the extent
permitted by the Trust Indenture Act, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent report of condition
so published. Neither the Company nor any Person directly or indirectly controlling, controlled
by, or under the common control with the Company shall serve as Trustee for the Securities. If at
any time the Trustee shall cease to be eligible in accordance with the provisions of this Section,
it shall resign immediately in the manner and with the effect hereunder specified in this Article.
This Indenture shall always have a Trustee who satisfies the requirements of Sections 310(a)(1),
(2) and (5) of the Trust Indenture Act. The Trustee is subject to Section 310(b) of the Trust
Indenture Act.

     A different Trustee may be appointed by the Company for each series of Securities prior to the
issuance of such Securities. If the initial Trustee for any series of Securities is to be other
than The Bank of New York Mellon Trust Company, N.A., the Company and such Trustee shall, prior to
the issuance of such Securities, execute and deliver an indenture supplemental hereto, which shall
provide for the appointment of such Trustee as Trustee for the Securities of such series and shall
add to or change any of the provisions of this Indenture as shall be necessary to facilitate the
administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee. No Trustee hereunder
shall be liable for the acts or omissions of any other Trustee hereunder.

          SECTION 610 Resignation and Removal; Appointment of Successor.

          (a) No resignation or removal of the Trustee for the Securities of any series and no
appointment of a successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements
of Section 611.

          (b) The Trustee for the Securities of any series may resign at any time, with 60 days’ prior
written notice, with respect to the Securities of such series by giving written notice thereof to
the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall
not have been delivered to the Trustee for the Securities of such series within 60 days after the
giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

          (c) The Trustee for the Securities of any series may be removed at any time, with 60 days’
prior written notice, with respect to the Securities of such series by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series, delivered to such
Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by
Section 611 shall not have been delivered to the Trustee for the Securities of such series within
60 days after the giving of such notice of removal, the Trustee being removed may petition, at the
expense of the Company, any court of competent jurisdiction for the appointment of a successor
Trustee with respect to the Securities of such series.

          (d) If at any time:

     (1) the Trustee for the Securities of any series shall fail to comply with Section
310(b) of the Trust Indenture Act pursuant to Section 608 hereof after written request
therefor by the Company or by any Holder who has been a bona fide Holder of a Security of
such series for at least six months, unless the Trustee’s duty to resign is stayed in
accordance with the provisions of Section 310(b) of the Trust Indenture Act, or

39

 

     (2) such Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or by any such Holder, or

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

then, in any such case, (i) the Company by a Board Resolution may remove such Trustee or (ii)
subject to Section 514, any Holder who has been a bona fide Holder of a Security of such series for
at least six months may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of such Trustee and the appointment of a successor
Trustee.

          (e) If the Trustee for the Securities of any series shall resign, be removed or become
incapable of acting, or if a vacancy shall occur in the office of Trustee for the Securities of any
series for any cause, the Company, by a Board Resolution, shall promptly appoint a successor
Trustee with respect to the Securities of such series and shall comply with the applicable
requirements of Section 611. If, within 180 days after such resignation, removal or incapability,
or the occurrence of such vacancy, a successor Trustee with respect to the Securities of such
series shall be appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring Trustee, the
successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in
accordance with the applicable requirements of Section 611, become the successor Trustee for the
Securities of such series and supersede the successor Trustee appointed by the Company. If no
successor Trustee for the Securities of such series shall have been so appointed by the Company or
the Holders and shall have accepted appointment in the manner required by Section 611, and if such
Trustee is still incapable of acting, any Holder who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

          (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series in the manner and to the extent provided in Section 106. Each notice
shall include the name of the successor Trustee with respect to the Securities of that series and
the address of its Corporate Trust Office.

          SECTION 611 Acceptance of Appointment by Successor.

          (a) Every such successor Trustee appointed hereunder with respect to the Securities of any
series 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 (1)
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, (2) if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same

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trust and 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 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 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, upon payment of its charges hereunder, duly assign, transfer
and deliver to such successor Trustee all 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 Trustee all
such rights, powers and trusts referred to in paragraphs (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 for the Securities of any series shall be qualified and eligible under this
Article.

          SECTION 612 Merger, Conversion, Consolidation or Succession to Business.

     Any corporation into which the Trustee for the Securities of any series may be merged or
converted or with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which such Trustee shall be a party, or any corporation succeeding
to all or substantially all of the corporate trust business of such Trustee, shall be the successor
of such Trustee hereunder, provided such corporation shall be otherwise qualified and eligible
under this Article, without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee or the Authenticating Agent for such series then in office, any successor
by merger, conversion or consolidation to such authenticating Trustee or Authenticating Agent, as
the case may be, may adopt such authentication and deliver the Securities so authenticated with the
same effect as if such successor Trustee or successor Authenticating Agent had itself authenticated
such Securities.

          SECTION 613 Preferential Collection of Claims Against Company.

     If and when the Trustee shall be or shall become a creditor, directly or indirectly, secured
or unsecured, of the Company (or any other obligor upon the Debt Securities), the Trustee shall be
subject to the provisions of the Trust Indenture Act regarding collection of claims against the
Company (or any such other obligor). A Trustee who has resigned or been removed shall be subject
to Section 311(a) of the Trust Indenture Act to the extent indicated.

          SECTION 614 Authenticating Agents.

     From time to time the Trustee for the Securities of any series may, subject to its sole
discretion, appoint one or more Authenticating Agents with respect to the Securities of such
series, which may include the Company or any Affiliate of the Company, with power to act on the
Trustee’s behalf and subject to its discretion in the authentication and delivery of Securities of
such series in connection with transfers and exchanges under Sections 304, 305 and 1107 as fully to
all intents and purposes as though such Authenticating Agent had been expressly authorized by those
Sections of this Indenture to authenticate and deliver Securities of such series. For all purposes
of this Indenture, the authentication and delivery of Securities of such series by an
Authenticating Agent for such Securities pursuant to this Section shall be deemed to be
authentication and delivery of such Securities “by the Trustee” for the Securities of such series.
Any such Authenticating Agent shall at all times be a corporation organized and doing business
under the laws of the United States or of any State, authorized under such laws to exercise
corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject
to supervision or examination by federal or State authority. If such Authenticating Agent
publishes reports of condition at least annually pursuant to law or the requirements of such
supervising or examining authority, then for the purposes of this Section the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time an Authenticating Agent for any
series of Securities shall cease to be eligible in accordance with the provisions of this Section,
such Authenticating Agent shall resign immediately in the manner and with the effect specified in
this Section.

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     Any corporation into which any Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, consolidation or conversion
to which any Authenticating Agent shall be a party, or any corporation succeeding to all or
substantially all the corporate trust business of any Authenticating Agent, shall be the successor
of such Authenticating Agent hereunder, if such successor corporation is otherwise eligible under
this Section, without the execution or filing of any paper or any further act on the part of the
parties hereto or the Authenticating Agent or such successor corporation.

     Any Authenticating Agent for any series of Securities may resign at any time by giving written
notice of resignation to the Trustee for such series and to the Company. The Trustee for any
series of Securities may at any time terminate the agency of any Authenticating Agent by giving
written notice of termination to such Authenticating Agent and to the Company in the manner set
forth in Section 105. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time any Authenticating Agent for any series of Securities shall cease to be
eligible under this Section, the Trustee for such series may appoint a successor Authenticating
Agent, shall give written notice of such appointment to the Company and shall give written notice
of such appointment to all Holders of Securities of such series in the manner set forth in Section
106. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall
become vested with all the rights, powers and duties of its predecessor hereunder, with like effect
as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section.

     The Company agrees to pay to any Authenticating Agent for such series from time to time
reasonable compensation for its services.

     If an appointment with respect to one or more series of Securities is made pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s
certification of authentication, an alternate certificate of authentication in the following form:

     “This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

	 	 	 	 	 	 	 
	 	 	The Bank of New York Mellon Trust Company, N.A.,	 	 
	 	 	     as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

As Authenticating Agent
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory”
	 	 

ARTICLE SEVEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

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

     With respect to each particular series of Securities, the Company will furnish or cause to be
furnished to the Trustee for the Securities of such series,

     (a) semiannually, not more than 15 days after each Regular Record Date relating to that
series (or, if there is no Regular Record Date relating to that series, on June 30 and
December 31), a list, in such form as such Trustee may reasonably require, containing all
the information in the possession or control of the Company or any of its Paying Agents
other than such Trustee as to the names and addresses of the Holders of that series as of
such dates,

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     (b) on semi-annual dates on each year to be determined pursuant to Section 301 if the
Securities of such series do not bear interest, a list of similar form and content, and

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

	excluding from any such list names and addresses received by such Trustee in its capacity as
Security Registrar for the Securities of such series, if so acting.

          SECTION 702 Preservation of Information; Communications to Holders.

          (a) The Trustee for each series of Securities shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Holders of the Securities of such series
contained in the most recent lists furnished to such Trustee as provided in Section 701 and the
names and addresses of Holders of the Securities of such series received by such Trustee in its
capacity as Security Registrar for such series, if so acting. The Trustee for each series of
Securities may destroy any list relating to such series of Securities furnished to it as provided
in Section 701 upon receipt of a new list relating to such series so furnished.

          (b) If three or more Holders of Securities of any particular series (hereinafter referred to
as “applicants”) apply in writing to the Trustee for the Securities of any such series, and furnish
to such Trustee reasonable proof that each such applicant has owned a Security of that series for a
period of at least six months preceding the date of such application, and such application states
that the applicants desire to communicate with other Holders of Securities of that series with
respect to their rights under this Indenture or under the Securities of that series and is
accompanied by a copy of the form of proxy or other communication which such applicants propose to
transmit, then such Trustee shall, within five Business Days after the receipt of such application,
at its election, either

     (i) afford such applicants access to the information preserved at the time by such
Trustee in accordance with Section 702(a), or

     (ii) inform such applicants as to the approximate number of Holders of Securities of
that series whose names and addresses appear in the information preserved at the time by such
Trustee in accordance with Section 702(a), and as to the approximate cost of mailing to such
Holders the form of proxy or other communication, if any, specified in such application.

     If any such Trustee shall elect not to afford such applicants access to that information, such
Trustee shall, upon the written request of such applicants, mail to each Holder of Securities of
that series whose name and address appear in the information preserved at the time by such Trustee
in accordance with Section 702(a), a copy of the form of proxy or other communication which is
specified in such request, with reasonable promptness after a tender to such Trustee of the
material to be mailed and of payment, or provision for the payment, of the reasonable expenses of
mailing, unless within five days after such tender, such Trustee shall mail to such applicants and
file with the Commission, together with a copy of the material to be mailed, a written statement to
the effect that, in the opinion of such Trustee, such mailing would be contrary to the best
interests of the Holders of Securities of that series or would be in violation of applicable law.
Such written statement shall specify the basis of such opinion. If the Commission, after
opportunity for a hearing upon the objections specified in the written statement so filed, shall
enter an order refusing to sustain any of such objections or if, after the entry of an order
sustaining one or more of such objections, the Commission shall find, after notice and opportunity
for hearing, that all the objections so sustained have been met and shall enter an order so
declaring, such Trustee shall mail copies of such material to all such Holders with reasonable
promptness after the entry of such order and the renewal of such tender; otherwise such Trustee
shall be relieved of any obligation or duty to such applicants respecting their application.

          (c) Every Holder of Securities of each series, by receiving and holding the same, agrees with
the Company and the Trustee for the Securities of such series that neither the Company nor such
Trustee, nor any agent of either of them shall be held accountable by reason of the disclosure of
any such information as to the names

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and addresses of the Holders of the Securities of such series in accordance with Section
702(b), regardless of the source from which such information was derived, and that the Trustee
shall not be held accountable by reason of mailing any material pursuant to a request made under
Section 702(b).

          SECTION 703 Reports by Trustee.

          (a) Within 60 days after May 15 of each year, the Trustee for the Securities of each series
shall mail to each Holder of the Securities of such series entitled to receive reports pursuant to
Section 704(3), a brief report dated as of such date that complies with Section 313(a) of the Trust
Indenture Act. The Trustee for the Securities of each series shall also comply with Sections
313(b), 313(c) and 313(d) of the Trust Indenture Act.

          (b) At the time that the Trustee for the Securities of each series mails such a report to the
Holders of Securities of such series, each such Trustee shall file a copy of that report with the
Commission and with each stock exchange on which the Securities of that series are listed. The
Company shall promptly provide written notice to the appropriate Trustee when the Securities of any
series are listed on any stock exchange and of any delisting thereof.

          SECTION 704 Reports by Company and Guarantor.

     The Guarantor will:

     (1) file with the Trustee for the Securities of such series, within 30 days after the
Guarantor is required (taking into account any extension of due dates due to compliance with
Rule 12b-25 or comparable provision under the Exchange Act) to file the same with the
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 Commission may from time to time
by rules and regulations prescribe) which the Guarantor may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Exchange Act. In the event the
Guarantor is at any time no longer subject to the reporting requirements of the Exchange Act
for any reason, the Guarantor shall continue to prepare the financial statements and a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations”
substantially similar to that which would have been required to be included in its periodic
reports had the Guarantor continued to have been subject to such reporting requirements
(with all such financial statements prepared in accordance with Regulation S-X promulgated
by the Commission and all such annual financial statements including a report thereon from
the Guarantor’s certified independent public accountants) and post copies thereof to its
website for public availability within the time periods that would have been applicable to
filing such periodic reports with the Commission in the rules and regulations applicable to
such reports if the Guarantor had been required to file those reports with the Commission;
provided, however, that if the Guarantor is no longer subject to the periodic reporting
requirements of the Exchange Act, the Guarantor will not be required to prepare and post
Current Reports on Form 8-K and will not be required to comply with Section 302 or Section
404 of the Sarbanes-Oxley Act of 2002, or related Items 307 and 308 of Regulation S-K
promulgated by the Commission, or Item 10(e) of Regulation S-K (with respect to any non-GAAP
financial measures contained therein). Notwithstanding anything in this Section 704, the
Company also shall comply with the other provisions of Section 314(a) of the Trust Indenture
Act;

     (2) file with the Trustee for the Securities of such series and the Commission, in
accordance with rules and regulations prescribed from time to time by the Commission, such
additional information, documents, and reports with respect to compliance by the Company
with the conditions and covenants of this Indenture as may be required from time to time by
such rules and regulations; and

     (3) transmit to the Holders of Securities of each series, within 30 days after the
filing thereof with the Trustee for the Securities of such series (unless some other time
shall be fixed by the Commission in respect of a Security listed and registered on a
national securities exchange), in the manner and to the extent provided in Section 313(c) of
the Trust Indenture Act, such summaries of any information, documents and reports required
to be filed by the Guarantor pursuant to the provisions of paragraphs (1) and (2) of this
Section as may be required by rules and regulations prescribed from time to time by the
Commission.

44

 

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

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

          SECTION 801 Company and Guarantor May Consolidate, Etc., Only on Certain Terms.

     Neither the Company nor the Guarantor shall consolidate with or merge into any other
corporation or convey or transfer their respective properties and assets substantially as an
entirety to any Person unless:

     (1) the Successor Entity formed by such consolidation or into which the Company or the
Guarantor, as applicable, is merged or the Person which acquires by conveyance or transfer
the properties and assets of the Company or the Guarantor, as applicable, substantially as
an entirety shall be an entity organized and existing under the laws of the United States of
America, any State thereof or the District of Columbia, and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee for each series of
Securities, in form satisfactory to each such Trustee, the due and punctual payment of the
principal of (and premium, if any) and interest, if any, (including all additional amounts,
if any, payable pursuant to Section 515) on all the Securities and the performance of every
covenant of this Indenture and any Guarantee on the part of the Company or the Guarantor, as
the case may be, to be performed or observed;

     (2) immediately after giving effect to such transaction, no Event of Default with
respect to any series of Securities, and no event which, after notice or lapse of time, or
both, would become an Event of Default with respect to any series of Securities, shall have
happened and be continuing;

     (3) the Company or the Guarantor, as the case may be, has delivered to the Trustee for
each series of Securities an Officers’ Certificate and an Opinion of Counsel each stating
that such consolidation, merger, conveyance or transfer and such supplemental indenture
comply with this Article and that all conditions precedent herein provided for relating to
such transaction have been complied with.

          SECTION 802 Successor Entity Substituted.

     Upon any consolidation or merger, or any conveyance or transfer of the properties and assets
of the Company or the Guarantor, as applicable, substantially as an entirety in accordance with
Section 801, the Successor Entity formed by such consolidation or into which the Company or the
Guarantor, as the case may be, is merged or to which such conveyance or transfer is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company, or the
Guarantor, as the case may be, under this Indenture with the same effect as if such successor
corporation had been named as the Company or the Guarantor, as the case may be, herein and
thereafter the predecessor entity shall be relieved of all obligations and covenants under this
Indenture, the Securities or the Guarantee, as the case may be, and, in the event of any such
consolidation, merger, conveyance or transfer, the Company or the Guarantor, as the case may be, as
the predecessor entity may thereupon or at any time thereafter be dissolved, wound up, or
liquidated.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

          SECTION 901 Supplemental Indentures Without Consent of Holders.

     Without the consent of any Holders of Securities, the Company and the Guarantor (in the case
of Guaranteed Securities), when authorized by a Board Resolution, and the Trustee for the
Securities of any or all series, at

45

 

any time and from time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to such Trustee, for any of the following purposes:

     (1) to evidence the succession of a Successor Entity to the Company or (in the case of
Guaranteed Securities) the Guarantor and the assumption by any such successor of the
covenants of the Company herein and in the Securities or the assumption by any such
successor of the covenants of the Guarantor (in the case of Guaranteed Securities) herein
and in the Guarantee; or

     (2) to add to the covenants of the Company or the Guarantor (in the case of Guaranteed
Securities), for the benefit of the Holders of all or any particular series of Securities
(and, if such covenants are to be for the benefit of fewer than all series of Securities,
stating that such covenants are being included solely for the benefit of such series), or to
surrender any right or power herein conferred upon the Company or the Guarantor, as
applicable; or

     (3) to add any additional Events of Default with respect to any or all series of
Securities (and, if any such Event of Default applies to fewer than all series of
Securities, stating each series to which such Event of Default applies); or

     (4) to change or eliminate any of the provisions of this Indenture; provided, however,
that any such change or elimination shall become effective only when there is no Security
Outstanding of any series created prior to the execution of such supplemental indenture
which is entitled to the benefit of such provision; or

     (5) to evidence and provide for the acceptance of appointment hereunder of a Trustee
other than The Bank of New York Mellon Trust Company, N.A., as Trustee for a series of
Securities and to add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, pursuant to the requirements of Section 609; or

     (6) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section 611(b); or

     (7) to add to the conditions, limitations and restrictions on the authorized amount,
form, terms or purposes of issue, authentication and delivery of Securities, as herein set
forth, other conditions, limitations and restrictions thereafter to be observed; or

     (8) to supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Section 401; provided, however, that any such action shall not adversely affect
the interests of the Holders of Securities of such series or any other series of Securities
in any material respect; or

     (9) to add to or change or eliminate any provisions of this Indenture as shall be
necessary or desirable in accordance with any amendments to the Trust Indenture Act; or

     (10) to establish the form and terms of any series of Securities; or

     (11) to reflect the release of the Guarantor with respect to the Guarantee of any
series of Securities in accordance with Article Thirteen and the provisions of the
applicable Guarantee Agreement; or

     (12) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein, to convey, transfer, assign, mortgage or
pledge any property to or with the Trustee for the Securities of any series or to surrender
any right or power herein conferred upon the Company or the Guarantor, or to make any other
provisions with respect to matters or questions arising

46

 

under this Indenture, provided such action shall not adversely affect the interests of
the Holders of Securities of any particular series in any material respect.

          SECTION 902 Supplemental Indentures With Consent of Holders.

     The Company and the Guarantor (in the case of Guaranteed Securities), when authorized by a
Board Resolution of the Company, and the Trustee for the Securities of any or all series may enter
into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or of modifying in
any manner the rights of the Holders of such Securities under this Indenture, but only with the
consent of the Holders of more than 50% in aggregate principal amount of the Outstanding Securities
of each series of Securities then Outstanding affected thereby, in each case by Act of said Holders
of Securities of each such series delivered to the Company and the Trustee for Securities of each
such series; provided, however, that no such supplemental indenture shall, without the consent of
the Holder of each Outstanding Security affected thereby:

     (1) change the Stated Maturity of the principal of, or any installment of principal of
or interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon, if any (or, in the case of OID Securities, reduce the rate of accretion of original
issue discount), or any premium payable upon the redemption thereof (except as contemplated
by Section 801(1) and permitted by Section 901(1)) or reduce the amount of the principal of
an OID Security that would be due and payable upon a declaration of acceleration of the
Maturity thereof, or provable in bankruptcy, or, in the case of Indexed Securities, reduce
the amount payable in accordance with the terms of those Securities upon a declaration of
acceleration of the Maturity thereof, or provable in bankruptcy, pursuant to Section 502, or
change the Place of Payment, or the currency or currency unit in which any Security or the
principal or interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of
redemption, on or after the Redemption Date); impair any right of Holders of Securities
hereunder to purchase Securities at their option; reduce or alter the method of computation
of any amount payable upon redemption, repayment or purchase of any Securities by the Issuer
(or the time when such redemption, repayment or purchase may be made) or adversely affect
the right to convert or exchange any Security into other securities of the Company or
another Person as may be provided pursuant to Section 301; or, in the case of Guaranteed
Securities, release the Guarantor from any of its obligations under the Guarantee otherwise
than in accordance with the terms of this Indenture and the provisions of the applicable
Guarantee Agreement;

     (2) reduce the percentage in principal amount of the Outstanding Securities, the
consent of whose Holders is required for any such supplemental indenture, or the consent of
whose Holders is required for any waiver (of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for in this
Indenture; or

     (3) modify any of the provisions of this Section or Section 513 or 1009, except to
increase any such percentage or to provide that certain other provisions of this Indenture
cannot be modified or waived without the consent of the Holder of each Security affected
thereby; provided, however, that this clause shall not be deemed to require the consent of
any Holder of a Security with respect to changes in the references to “the Trustee” and
concomitant changes in this Section and Section 1009, or the deletion of this proviso, in
accordance with the requirements of Sections 609, 611(b), 901(5) and 901(6).

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

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

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          SECTION 903 Execution of Supplemental Indentures.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee for any series of Securities shall receive, and (subject to Section 601) shall be fully
protected in conclusively relying upon, an Officer’s Certificate and an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture.
The Trustee for any series of Securities may, but shall not be obligated to, enter into any such
supplemental indenture which affects such Trustee’s own rights, liabilities, duties or immunities
under this Indenture or otherwise.

          SECTION 904 Effect of Supplemental Indentures.

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

          SECTION 905 Conformity With Trust Indenture Act.

     Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act.

          SECTION 906 Reference in Securities to Supplemental Indentures.

     Securities of any particular series authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article may, and shall if required by the Trustee for the
Securities of such series, bear a notation in form approved by such Trustee as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new Securities of
any series so modified as to conform, in the opinion of the Trustee for the Securities of such
series and the Board of Directors, to any such supplemental indenture may be prepared and executed
by the Company and such Securities may be authenticated and delivered by such Trustee in exchange
for Outstanding Securities of such series.

ARTICLE TEN

COVENANTS

          SECTION 1001 Payment of Principal, Premium, if any, and Interest, if any.

     The Company agrees, for the benefit of each particular series of Securities, that it will duly
and punctually pay in the currency or currency unit in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series
and except as provided in Section 311(c)) principal of, and premium, if any, and interest, if any,
on that series of Securities in accordance with the terms of the Securities of such series and this
Indenture. The interest, if any, due in respect of any temporary or permanent Global Security,
only upon presentation of such Security to the Trustee thereof for notation thereon of the payment
of such interest.

          SECTION 1002 Maintenance of Office or Agency.

     So long as any Securities remain outstanding, the Company will maintain in each Place of
Payment for that series an office or agency where Securities of that series may be presented or
surrendered for payment, surrendered for registration of transfer or exchange and where notices and
demands to or upon the Company with respect to the Securities of that series and this Indenture may
be served. The Company will give prompt written notice to the Trustee for the Securities of that
series of the location, and any change in the location, of any such office or agency. If at any
time the Company shall fail to maintain any such required office or agency in respect of any series
of Securities or shall fail to furnish the Trustee for the Securities of that series with the
address thereof, such presentations (to the extent permitted by law), and surrenders of Securities
of that series may be made and notices and demands

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may be made or served at the Corporate Trust Office of such Trustee, and the Company hereby
appoints the same as its agent to receive such respective presentations, surrenders, notices and
demands.

     The Company may also from time to time designate one or more other offices or agencies (in or
outside the Place of Payment) where the Securities of one or more series may be presented or
surrendered for any or all of the purposes specified above in this Section and may from time to
time rescind such designations; provided, however, that no such designation or rescission shall in
any manner relieve the Company of its obligation to maintain an office or agency in each Place of
Payment for such purpose. The Company will give prompt written notice to the Trustee for the
Securities of each series so affected of any such designation or rescission and of any change in
the location of any such office or agency.

     If and so long as the Securities of any series (i) are denominated in a currency other than
Dollars or (ii) may be payable in a currency other than Dollars, or so long as it is required under
any other provision of the Indenture, then the Company will maintain with respect to each such
series of Securities, or as so required, a Currency Determination Agent.

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

     If the Company shall at any time act as its own Paying Agent with respect to any particular
series of Securities, it will, on or before each due date of principal of, and premium, if any, or
interest, if any, on any of the Securities of that series, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum in the currency or currency unit in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 301 for
the Securities of such series and except as provided in Section 311(c)) sufficient to pay the
principal, premium, if any, and interest, if any, so becoming due until such sums shall be paid to
such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee for
the Securities of such series of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for any particular series of
Securities, it will, on or before each due date of principal of, or premium, if any, or interest,
if any, on any such Securities, deposit with a Paying Agent for the Securities of such series a sum
(in the currency or currency unit described in the preceding paragraph) sufficient to pay the
principal, premium, if any, and interest, if any, so becoming due, such sum to be held as provided
by the Trust Indenture Act, and (unless such Paying Agent is the Trustee for the Securities of such
series) the Company will promptly notify such Trustee of its action or failure so to act.

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

     (1) comply with the provisions of the Trust Indenture Act applicable to it as Paying
Agent and hold all sums held by it for the payment of principal of, or premium, if any, or
interest, if any, on Securities of that series in trust for the benefit of the Persons
entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as
herein provided;

     (2) give such Trustee notice of any default by the Company (or any other obligor upon
the Securities) in the making of any payment of principal of, and premium, if any, and
interest, if any, on Securities of that series; and

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

     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee for the Securities of any series all sums held in trust by the Company or such
Paying Agent, such sums to be held by such Trustee upon the same trusts as those upon which such
sums were held by the Company or such Paying Agent; and, upon

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such payment by any Paying Agent to such Trustee, such Paying Agent shall be released from all
further liability with respect to such money.

          SECTION 1004 Payment of Taxes and Other Claims.

     The Company will pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all material taxes, assessments and governmental charges levied or imposed
upon it or upon its income, profits or property, and (2) all material lawful claims for labor,
materials and supplies which, if unpaid, might by law become a lien upon its property; provided,
however, that the Company shall not be required to pay or discharge or cause to be paid or
discharged any such tax, assessment, charge or claim whose amount, applicability or validity is
being contested in good faith by appropriate proceedings and for which adequate reserves have been
established in accordance with generally accepted accounting principles.

          SECTION 1005 Statements as to Compliance.

     The Company will deliver to the Trustee for each series of Securities, within 120 days after
the end of each fiscal year, a written statement signed by the principal executive officer,
principal financial officer or principal accounting officer of the Company stating that:

     (1) a review of the activities of the Company during such year and of performance under
this Indenture has been made under his or her supervision; and

     (2) to the best of his or her knowledge, based on such review, the Company is in
compliance with all conditions and covenants under this Indenture.

     For purposes of this Section, such compliance shall be determined without regard to any period
of grace or requirement of notice provided under this Indenture.

          SECTION 1006 Corporate Existence.

     Subject to Article Eight, the Company and, so long as any Securities in respect of which
Guarantees have been issued are Outstanding, the Guarantor will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence, rights (charter
and statutory) and franchises; provided, however, that neither the Company nor the Guarantor shall
be required to preserve any right or franchise if its respective board of directors shall determine
that the preservation thereof is no longer desirable in the conduct of its business and that the
loss thereof is not disadvantageous in any material respect to the Holders.

          SECTION 1007 Limitations on Liens.

          (a) Except as expressly provided in Subsection (b) of this Section 1007, the Company will not,
and will not permit any Subsidiary to, create, assume, incur or suffer to be created, assumed or
incurred, any mortgage, pledge, lien, security interest, charge or encumbrance (all of the
foregoing being hereinafter referred to as “liens”) to secure any indebtedness for borrowed money
(i) upon any shares of Capital Stock issued by any Subsidiary that owns any Principal Facility (as
hereinafter defined) to the extent such shares are owned by the Company or one or more
Subsidiaries, or (ii) upon any Principal Facility, in either case without making effective
provision whereby all the Securities or, in respect of liens upon any Principal Facility owned or
leased by the Guarantor, the Guarantees shall be directly secured equally and ratably with the
indebtedness secured by such lien, so long as any such indebtedness shall be so secured; provided,
however, that this Section 1007 shall not be applicable to the following:

     (1) in the case of a Principal Facility, liens incurred in connection with the issuance
by a state or political subdivision thereof of any securities the interest on which is
exempt from federal income taxes by virtue of Section 103 of the Code or any other laws or
regulations in effect at the time of such issuance;

     (2) liens existing on the date hereof;

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     (3) liens on property or shares of Capital Stock existing when acquired by the Company
or any Subsidiary (including acquisition through merger, share exchange or consolidation) or
securing the payment of all or part of the purchase price, construction or improvement
thereof incurred prior to, at the time of, or within 180 days after the later of the
acquisition, completion of construction or improvement or commencement of full operation of
such property for the purpose of financing all or a portion of such purchase or construction
or improvement; or

     (4) liens for the sole purpose of extending, renewing or replacing in whole or in part
the indebtedness secured by any lien referred to in the foregoing clauses (1) through (3) or
in this clause (4); provided, however, that the principal amount of indebtedness secured
thereby shall not exceed the principal amount of indebtedness so secured at the time of such
extension, renewal or replacement, and that such extension, renewal or replacement shall be
limited to all or a part of the property which secured the lien so extended, renewed or
replaced (plus improvements on such property).

          (b) The Company and/or any Subsidiary may create, assume or incur, or suffer to be created,
assumed or incurred, liens which would otherwise be prohibited by Subsection (a) of this Section
1007, provided that the indebtedness secured thereby, plus the aggregate value of the Sale and
Leaseback Transactions permitted by the provisions of Subsection (b) of Section 1008, does not at
the time exceed a percentage of Consolidated Net Tangible Assets specified for such series of
Securities in accordance with Section 301.

          (c) The term “Principal Facility” shall mean any facility, together with the land upon which
it is erected and fixtures comprising a part thereof, used primarily for manufacturing, processing
or production and located in the United States, owned or leased pursuant to a capital lease by the
Company or any Subsidiary, that has a gross book value (without deduction of any depreciation
reserve) on the date as of which the determination is being made exceeding 2% of
Consolidated Capitalization.

          (d) The Certificate of a Firm of Independent Public Accountants shall be conclusive evidence
as to the amount, at the date specified in such Certificate, of the gross book value of any
manufacturing, processing or production facility, Consolidated Capitalization, or Consolidated Net
Tangible Assets, as the case may be.

          SECTION 1008 Sale and Leaseback Transactions.

          (a) Neither the Company nor any Subsidiary will sell or transfer a Principal Facility now
owned or hereafter acquired with the intention of taking back a lease of such property, except a
lease for a temporary period of less than 3 years, including renewals, with the intent that the use
by the Company or a Subsidiary will be discontinued on or before the expiration of such period (any
transaction subject to the provisions of this Section 1008 being herein referred to as a “Sale and
Leaseback Transaction”) unless the Company shall apply an amount equal to the value of the property
so leased to the retirement (other than any mandatory retirement), within 180 days of the effective
date of any such arrangement, of non-subordinated indebtedness for money borrowed by the Company
which had a stated maturity of more than one year from the date of its creation.

          (b) The Company or a Subsidiary may enter into a Sale and Leaseback Transaction which would
otherwise be prohibited by Subsection (a) of this Section 1008, provided that the value thereof
plus the aggregate indebtedness permitted to be secured under the provisions of paragraph (b) of
Section 1007 does not at the time exceed a percentage of Consolidated Net Tangible Assets specified
for such series of Securities in accordance with Section 301.

          (c) The term “value” shall, for the purpose of this Section 1008 and Section 1007(b), mean,
with respect to a Sale and Leaseback Transaction, as of any particular time, the amount equal to
the greater of (i) the net proceeds of the sale of the property leased pursuant to such Sale and
Leaseback Transaction or (ii) the fair value of such property at the time of entering into such
Sale and Leaseback Transaction, as determined by the Board of Directors, in each such case divided
first by the number of full years of the term of the lease and then multiplied by the number of
full years of such term remaining at the time of determination, without regard to any renewal or
extension options contained in the lease.

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          (d) The Certificate of a Firm of Independent Public Accountants shall be conclusive evidence
as to the amount, at the date specified in such Certificate, of the gross book value of any
manufacturing, processing or production facility, Consolidated Capitalization or Consolidated Net
Tangible Assets, as the case may be.

          SECTION 1009 Waiver of Certain Covenants.

     The Company may omit in any particular instance to comply with any covenant or condition set
forth in Sections 1004 to 1008, inclusive, if before or after the time for such compliance the
Holders of more than 50% in principal amount of the Outstanding Securities of each series of
Securities entitled to the benefits thereof shall, in each case, by Act of such Holders, either
waive such compliance in such instance or generally waive compliance with such covenant or
condition, but no such waiver shall extend to or affect such covenant or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the obligations of the
Company and the duties of the Trustee for the Securities of each series with respect to any such
covenant or condition shall remain in full force and effect.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

          SECTION 1101 Applicability of This Article.

     Redemption of Securities of any series (whether by operation of a sinking fund or otherwise)
as permitted or required by any form of Security issued pursuant to this Indenture shall be made in
accordance with such form of Security and this Article; provided, however, that if any provision of
any such form of Security shall conflict with any provision of this Article, the provision of such
form of Security shall govern.

          SECTION 1102 Election to Redeem; Notice to Trustee.

     The election of the Company to redeem any Securities of any series shall be evidenced by or
pursuant to a Board Resolution. In case of any redemption at the election of the Company of the
Securities of any particular series, the Company shall, at least 60 days prior to the Redemption
Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee for the
Securities of such series) notify such Trustee by Company Request of such Redemption Date and of
the principal amount of Securities of that series to be redeemed and shall deliver to such Trustee
such documentation and records as shall enable such Trustee to select the Securities to be redeemed
pursuant to Section 1103. In the case of any redemption of Securities of any series 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 for Securities of such series
with an Officers’ Certificate evidencing compliance with such restriction.

          SECTION 1103 Selection by Trustee of Securities to Be Redeemed.

     If less than all the Securities are to be redeemed, the Company may select the series to be
redeemed, and if less than all the Securities of any series are to be redeemed, the particular
Securities of that series to be redeemed shall be selected not more than 60 days prior to the
Redemption Date by the Trustee for the Securities of such series, from the Outstanding Securities
of that series not previously called for redemption, by such method as such Trustee shall deem fair
and appropriate (or otherwise in accordance with the procedures of the Depositary) and which may
provide for the selection for redemption of portions (equal to the minimum authorized denomination
for Securities of that series, or any integral multiple thereof) of the principal amount of
Securities of that series of a denomination larger than the minimum authorized denomination for
Securities of that series pursuant to Section 302 in the currency or currency unit in which the
Securities of such series are denominated.

     The Trustee for the Securities of any series to be redeemed shall promptly notify the Company
in writing of the Securities of such series selected for redemption and, in the case of any
Securities selected for partial redemption, the principal amount thereof to be redeemed.

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     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Security redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

          SECTION 1104 Notice of Redemption.

     Notice of redemption shall be given in the manner provided in Section 106 not later than the
thirtieth day and not earlier than the sixtieth day prior to the Redemption Date, to each Holder of
Securities to be redeemed.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

     (3) the identification (and, in the case of partial redemption, the respective
principal amounts) of the particular Securities to be redeemed, including the “CUSIP” or
“ISIN” number of such Securities,

     (4) that on the Redemption Date the Redemption Price will become due and payable upon
each such Security or portion thereof, and that interest thereon, if any (or in the case of
OID Securities, original issue discount), shall cease to accrue on and after said date,

     (5) the place or places where such Securities maturing after the Redemption Date are to
be surrendered for payment of the Redemption Price, and

     (6) that the redemption is for a sinking fund, if such is the case.

     Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request and provisions of such notice information to the
Trustee at least 5 days prior to the notice of redemption being mailed, by the Trustee for such
Securities in the name and at the expense of the Company.

          SECTION 1105 Deposit of Redemption Price.

     On or before 10:00 a.m., New York City time, any Redemption Date, the Company shall deposit
with the Trustee for the Securities to be redeemed or with a Paying Agent for such Securities (or,
if the Company is acting as its own Paying Agent for such Securities, segregate and hold in trust
as provided in Section 1003) an amount of money in the currency or currency unit in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 301 for
the Securities of such series and except as provided in Section 311(c) sufficient to pay the
principal of, and premium, if any, thereon), and (except if the Redemption Date shall be an
Interest Payment Date) any accrued interest on, all the Securities which are to be redeemed on that
date.

          SECTION 1106 Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified in the
currency or currency unit in which the Securities of such series are payable (except as otherwise
provided pursuant to Section 301 for the Securities of such series and except as provided in
Section 311(c)) and from and after such date (unless the Company shall default in the payment of
the Redemption Price) such Securities shall cease to bear interest. Upon surrender of such
Security for redemption in accordance with said notice, such Security shall be paid by the Company
at the Redemption Price; provided, however, that unless otherwise specified as contemplated by
Section 301, installments of interest on Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the relevant record dates according to
their terms and the provisions of Section 307.

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     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal thereof and premium, if any, thereon shall, until paid, bear interest
from the Redemption Date at a rate per annum equal to the rate borne by the Security (or, in the
case of (i) OID Securities, the Security’s Yield to Maturity or (ii) Indexed Securities, the rate
determined in accordance with the specified terms of those Securities).

          SECTION 1107 Securities Redeemed in Part.

     Any Security which is to be redeemed only in part shall be surrendered at the Place of Payment
(with, if the Company or the Trustee for such Security so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Company and the Security Registrar for
such Security duly executed by, the Holder thereof or his or her attorney duly authorized in
writing), and the Company shall execute and such Trustee shall authenticate and deliver to the
Holder of such Security without service charge, a new Security or Securities, of any authorized
denomination as requested by such Holder, of the same series and having the same terms and
provisions and in an aggregate principal amount equal to and in exchange for the unredeemed portion
of the principal of the Security so surrendered.

ARTICLE TWELVE

SINKING FUNDS

          SECTION 1201 Applicability of This Article.

     Redemption of Securities through operation of a sinking fund as permitted or required by any
form of Security issued pursuant to this Indenture shall be made in accordance with such form of
Security and this Article; provided, however, that if any provision of any such form of Security
shall conflict with any provision of this Article, the provision of such form of Security shall
govern.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
particular 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 particular series is
herein referred to as an “optional sinking fund payment”. If provided for by the terms of
Securities of any particular series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 1202. Each sinking fund payment shall be applied to the
redemption of Securities of any particular series as provided for by the terms of Securities of
that series.

          SECTION 1202 Satisfaction of Sinking Fund Payments With Securities.

     The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption), and (2) may apply as a credit Securities of a series which 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, however, that such Securities
have not been previously so credited. Such Securities shall be received and credited for such
purpose by the Trustee for such Securities at the principal amount thereof and the amount of such
sinking fund payment shall be reduced accordingly.

          SECTION 1203 Redemption of Securities for Sinking Fund.

     Not less than 60 days prior to each sinking fund payment date for any particular series of
Securities, the Company will deliver to the Trustee for the Securities of such series an Officers’
Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that
series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied
by payment of cash in the currency or currency unit in which the Securities of that series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of that series
and except as provided in Section 311(c)) and the portion thereof, if any, which is to be satisfied
by delivering and crediting Securities of that series pursuant to Section 1202 and shall state the
basis for such credit and that such Securities have not previously been so credited and will also
deliver to such Trustee any Securities to be so delivered.

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Such Trustee shall select the Securities to be redeemed upon such sinking fund payment date in
the manner specified in Section 1103 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 1104. Such notice
having been duly given, the redemption of such Securities shall be made upon the terms and in the
manner stated in Sections 1106 and 1107.

ARTICLE THIRTEEN

GUARANTEES OF SECURITIES

          SECTION 1301 Guarantee.

     Notwithstanding any provision of this Indenture to the contrary, the provisions of this
Article Thirteen shall be applicable only to, and inure solely to the benefit of, the Securities of
any series designated pursuant to Section 301 as entitled to the benefits of the Guarantee of the
Guarantor. If specified pursuant to Section 301, the payment of principal of, and premium, if any,
and interest, if any, on the Securities of that series is to be guaranteed (“Guarantee”) by the
Guarantor, the Guarantor shall execute and deliver a guarantee agreement substantially in the form
attached hereto as Exhibit B (the “Guarantee Agreement”), the terms and conditions of which are
incorporated in this Article Thirteen by reference and made a part hereof.

     An Event of Default under the Securities of that series shall constitute an event of default
under this Indenture and the Guarantee Agreement, and shall entitle the Holders of such Securities
or the Trustee (acting at the written direction of the Holders) to accelerate the obligations of
the Guarantor under this Indenture and the Guarantee Agreement in the same manner and to the same
extent as the obligations of the Company under the Indenture.

     The Guarantee shall be a guarantee of payment and not of collection.

     The Guarantor hereby agrees to pay, in addition to the amount stated above, any and all costs
and expenses (including the reasonable compensation, expenses and disbursements of its agents and
counsel) incurred by the Trustee under this Indenture or by any Holder in enforcing any rights
under this Section 1301.

          SECTION 1302 Execution and Delivery of Indenture and Guarantee Agreement.

     To further evidence the Guarantee set forth in Section 1301, the Guarantor hereby agrees that
a Guarantee Agreement shall be executed by either manual or facsimile signature of a duly
authorized officer of the Guarantor. The validity and enforceability of any Guarantee shall not be
affected by the failure by the Guarantor to execute and deliver the Guarantee Agreement or the fact
that the Guarantee Agreement is not affixed to any particular Security entitled to the benefits of
the Guarantee.

     If the duly authorized officer of the Guarantor whose signature is on this Indenture or the
Guarantee Agreement no longer holds that office at the time the Trustee authenticates the
Securities entitled to the benefits of the Guarantee or at any time thereafter, the Guarantee of
such Security pursuant to this Indenture shall be valid nevertheless.

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

*     *     *

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

	 	 	 	 	 
	 	LORILLARD TOBACCO COMPANY,

      as Issuer

 	 
	 	By:  	                                              
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LORILLARD, INC.,

      as Guarantor

 	 
	 	By:  	                                              
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

     as Trustee

 	 
	 	By:  	                                              
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

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EXHIBIT A

FORM OF NOTE

     [IF THE NOTES WERE ISSUED WITH MORE THAN DE MINIMUS ORIGINAL ISSUE DISCOUNT, THE FOLLOWING
LEGEND SHOULD BE ADDED:

     FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED,
THIS NOTE WAS ISSUED WITH “ORIGINAL ISSUE DISCOUNT.” BEGINNING TEN DAYS AFTER THE ISSUE DATE, THE
ISSUER WILL PROMPTLY MAKE AVAILABLE TO THE HOLDER HEREOF ANY INFORMATION REGARDING THE ISSUE PRICE,
ISSUE DATE, YIELD TO MATURITY, AND AMOUNT OF ORIGINAL ISSUE DISCOUNT, UPON THE WRITTEN REQUEST OF
SUCH HOLDER DIRECTED TO THE ISSUER, LORILLARD TOBACCO COMPANY, 714 GREEN VALLEY ROAD, GREENSBORO,
NORTH CAROLINA 27408, ATTENTION: [GENERAL COUNSEL OR CFO]]

REGISTERED

No.

	 	 	 	 	 
	 

	 	LORILLARD TOBACCO COMPANY	 	 
	 
	 	 	 	 
	 

	 	     % NOTES DUE      
	 	PRINCIPAL AMOUNT
	 

	 	 	 	$
	 

	 	 	 	CUSIP NO.
	 

	 	 	 	ISIN NO.

     [IF A GLOBAL NOTE, INSERT: THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY
(THE “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

     LORILLARD TOBACCO COMPANY, a Delaware corporation (hereinafter called the “Company,”
which term includes any successor corporation under the Indenture hereinafter referred to),
for value received, hereby promises to pay to [Cede & Co.] or registered assigns, the
principal sum of [DOLLARS] [FOREIGN CURRENCY OR CURRENCY UNIT] on                      [IF THE NOTE IS
TO BEAR INTEREST PRIOR TO MATURITY, AND INTEREST PAYMENTS ARE NOT EXTENDABLE, INSERT—], and
to pay interest thereon from                      or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, [INSERT — SEMI-ANNUALLY, QUARTERLY,
MONTHLY OR OTHER DESCRIPTION OF THE RELEVANT PAYMENT PERIOD] on                      and
                     in each year, commencing                      , at the rate of ___% per annum until the
principal hereof is paid or made available for payment [IF APPLICABLE, INSERT — provided
that any principal and premium, and any such installment of interest, which is overdue shall
bear interest at the rate of ___% per annum (to the extent that the payment of such interest
shall be legally enforceable), from the dates such amounts are due until they are paid or
made available for payment, and such interest shall be payable on demand.]

 

 

     The interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose name this
Note (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be                      or                      (whether or not
a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
interest not so punctually paid or duly provided for shall forthwith cease to be payable to
the Holder on such Regular Record Date and may be paid to the Person in whose name this Note
(or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the
Notes, notice whereof shall be given to Holders of Notes not less than 10 days prior to such
Special Record Date, or may be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Notes may be listed, and upon
such notice as may be required by such exchange, all as more fully provided in said
Indenture.

     [IF THE NOTE IS NOT TO BEAR INTEREST PRIOR TO MATURITY, INSERT — The principal of this
Note shall not bear interest except in the case of a default in payment of principal upon
acceleration, upon redemption or at Stated Maturity and in such case the overdue principal
of this Note shall bear interest at the rate of ___% per annum (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due
until they are paid or made available for payment. Interest on any overdue principal or
premium shall be payable on demand. Any such interest on any overdue principal or premium
which is not so paid on demand shall bear interest at the rate of ___% per annum (to the
extent that the payment of such interest shall be legally enforceable), from the date of
such demand until the amount so demanded is paid or made available for payment. Interest on
any overdue principal shall be payable on demand.]

     Payment of the principal of (and premium, if any) and interest on this Note will be
made at the office or agency of the Company maintained for that purpose in the Borough of
Manhattan, The City of New York, in such coin or currency of [THE UNITED STATES OF AMERICA]
[INSERT OTHER CURRENCY, IF APPLICABLE] or in such Foreign Currency as applicable, as at the
time of payment is legal tender for payment of public and private debts; [IF APPLICABLE,
INSERT — provided, however, that at the option of the Company payment of interest may be
made by check mailed to the address of the Person entitled thereto as such address shall
appear on the Securities Register or by wire transfer at such place and to such account at a
banking institution in the United States as may be designated in writing to the Trustee at
least 15 days prior to the date for payment by the person entitled thereto.] [IF A GLOBAL
NOTE, INSERT — All payments of principal, premium, if any, and interest in respect of this
Note will be made by the Company in immediately available funds.]

     Additional provisions of this Note are contained on the reverse hereof, and such
provisions shall have the same effect as though fully set forth in this place.

     Unless the certificate of authentication hereon has been executed by or on behalf of
the Trustee for the Notes by manual signature, this Note shall not be entitled to any
benefit under the Indenture, or be valid or obligatory for any purpose.

-2-

 

     IN WITNESS WHEREOF, LORILLARD TOBACCO COMPANY has caused this instrument to be duly executed.

	 	 	 	 	 	 	 
	Dated:	 	LORILLARD TOBACCO COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

 

 

CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein described in the
within-mentioned Indenture.

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

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Dated:

 

 

(Reverse of Note)

LORILLARD TOBACCO COMPANY

     This Note is one of a duly authorized issue of debentures, notes or other evidences of
indebtedness (hereinafter called the “Securities”) of the Company of the series hereinafter
specified, which series is limited in aggregate principal amount to $                     (except as provided
in the Indenture hereinafter mentioned), all such Securities issued and to be issued under an
Indenture, dated as of [      ], 2009, among the Company, Lorillard, Inc., as Guarantor, and The Bank of
New York Mellon Trust Company, N.A., as Trustee (herein called the “Indenture”), to which Indenture
and all other indentures supplemental thereto reference is hereby made for a statement of the
rights and limitations of rights thereunder of the Holders of the Securities and of the rights,
obligations, duties and immunities of the Trustee for each series of Securities and of the Company,
and the terms upon which the Securities are and are to be authenticated and delivered. As provided
in the Indenture, the Securities may be issued in one or more series, which different series may be
issued in various aggregate principal amounts, may mature at different times, may bear interest, if
any, at different rates, may be subject to different redemption provisions, if any, may be subject
to different sinking, purchase or analogous funds, if any, may be subject to different covenants
and Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note
is one of a series of the Securities designated therein as ___% Notes due                      (the
“Notes”).

     [The Notes have the benefit of the unconditional guarantee by the Guarantor to pay the
principal of, and premium, if any, and interest, if any, on the Notes, according to the terms of
and as more fully described in the Indenture and the related Guarantee Agreement executed by the
Guarantor on the date hereof.]

     [The Notes are subject to redemption as a whole or in part at any time on or after
                    , at the option of the Company, on not less than 30 nor more than 60 days’ prior notice
given as provided in the Indenture, at the redemption price of 100% of the principal amount
thereof, together with interest accrued and unpaid thereon to the date fixed for redemption.

     In the event of the redemption of this Note in part only, a new Note or Notes in the amount of
the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the
cancellation hereof.]

     The Indenture contains provisions for defeasance at any time of the entire principal of all
the Securities of any series upon compliance by the Company with certain conditions set forth
therein.

     If an Event of Default (other than an Event of Default described in Section 501(4) or 501(5)
of the Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee
or the Holders of not less than 25% in principal amount of the Notes then Outstanding may declare
the entire principal amount of the Notes due and payable in the manner and with effect provided in
the Indenture. If an Event of Default specified in Section 501(4) or 501(5) occurs with respect to
the Company, all of the unpaid principal amount and accrued interest then Outstanding shall ipso
facto become and be immediately due and payable in the manner with the effect provided in the
Indenture without any declaration or other act by the Trustee or any Holder.

     Notwithstanding anything in the immediately preceding paragraph to the contrary, to the extent
elected by the Company, the sole remedy for an Event of Default relating to the failure by the
Company to comply with the obligation to provide certain reports and information as set forth in
Section 704 of the Indenture will, for the first 120 days after the occurrence of such an Event of
Default, consist exclusively of the right for Holders to receive additional interest on the Notes
equal to 0.25% per annum of the principal amount of the Notes. If the Company so elects, such
additional interest will be payable in the same manner and on the same dates as the stated Interest
Payment Dates on the Notes. The additional interest will accrue on all outstanding Notes from and
including the date on which such Event of Default first occurs to, but not including, the 120th day
thereafter (or such earlier date on which such Event of Default shall have been cured or waived by
Holders as provided in Section 513 of the Indenture). On such 120th day after such Event of Default
(if the Event of Default relating to such obligation is not cured or waived by Holders as provided
in Section 513 of the Indenture prior to such 120th day), such additional interest will cease to
accrue and the Notes will be subject to acceleration as provided in the paragraph above. In the
event the Company does not elect to pay the additional interest upon such Event of Default in
accordance with this paragraph, the Notes will be subject to acceleration as provided in paragraph
above.

 

 

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities under the Indenture at any time by the Company [and the Guarantor] with the consent of
the Holders of more than 50% in aggregate principal amount of the Outstanding Securities of each
series of Securities then Outstanding affected thereby. The Indenture also contains provisions
permitting the Holders of specified percentages in aggregate principal amount of the Securities of
any series at the time Outstanding, on behalf of the Holders of all the Securities of such series,
to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences with respect to such series. Any such consent
or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all
future Holders of this Note and of any Note issued upon the transfer hereof or in exchange or in
lieu hereof whether or not notation of such consent or waiver is made upon this Note.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of (and premium, if any) and interest on this Note at the times, place and rate, and in
the coin or currency, herein and in the Indenture prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, this Note
is transferable on the Security Register of the Company, upon surrender of this Note for
registration of transfer at the office or agency of the Company to be maintained for that purpose
in the Borough of Manhattan, The City of New York, or at any other office or agency of the Company
maintained for that purpose, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof
or his or her attorney duly authorized in writing, and thereupon one or more new Notes, of
authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

     The Notes are issuable only in registered form only in denominations of $2,000 and integral
multiples of $1,000 thereof or the equivalent amount thereof in the case of Notes denominated in a
Foreign Currency or currency unit. As provided in the Indenture and subject to certain limitations
therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a like
tenor and of a different authorized denomination, as requested by the Holder surrendering the same.

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

     The Company, the Trustee for the Notes and any agent of the Company or such Trustee may treat
the Person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment as herein provided and for all other purposes, whether or not this Note be overdue, and
neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary.

     Certain of the Company’s obligations under the Indenture with respect to Notes may be
terminated if the Company irrevocably deposits with the Trustee money or Government Obligations
sufficient to pay and discharge the entire indebtedness on all Notes, as provided in the Indenture.

     This Note shall for all purposes be governed by, and construed in accordance with, the laws of
the State of New York.

     Certain terms used in this Note which are defined in the Indenture have the meanings set forth
therein.

-2-

 

FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

      

(Name and address of Assignee, including zip code, must be printed or typewritten)

      

      

the within Note, and all rights thereunder, hereby irrevocably, constituting and appointing

      

      

Attorney to transfer the said Note on the books of Lorillard Tobacco Company with full power of
substitution in the premises.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	 	 	 
	 	NOTICE: The signature to this assignment must correspond with
the name as it appears upon the face of the within Note in every
particular, without alteration or enlargement or any change
whatever.

A-1

 

EXHIBIT B

FORM OF GUARANTEE AGREEMENT

     GUARANTEE, dated as of [     ], 2009 (as amended from time to time, this
“Guarantee”), made by Lorillard, Inc., a Delaware corporation (the “Guarantor”), in
favor of The Bank of New York Mellon Trust Company, N.A., as trustee (“Trustee”) for the
registered holders (the “Holders”) of the Notes due [     ], 2009 (collectively, the
“Debt Securities”) of Lorillard Tobacco Company, a Delaware corporation (the
“Issuer”).

WITNESSETH:

SECTION 1. Guarantee. (a) The Guarantor hereby unconditionally guarantees the punctual
payment when due, whether at stated maturity, by acceleration or otherwise, of the principal of,
premium, if any, and interest on the Debt Securities (the “Obligations”), according to the
terms of the Debt Securities and as more fully described in the Indenture (as amended, modified or
otherwise supplemented from time to time, the “Indenture”), dated as of [ ], 2009 among
the Issuer, the Guarantor and the Trustee, and any other amounts payable by the Guarantor under the
Indenture.

     (b) It is the intention of the Guarantor that this Guarantee not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
this Guarantee. To effectuate the foregoing intention, the amount guaranteed by the Guarantor
under this Guarantee shall be limited to the maximum amount as will, after giving effect to such
maximum amount and all other contingent and fixed liabilities of the Guarantor that are relevant
under such laws, result in the Obligations of the Guarantor under this Guarantee not constituting a
fraudulent transfer or conveyance. For purposes hereof, “Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state law for the relief of debtors.

     SECTION 2. Guarantee Absolute. The Guarantor guarantees that the Obligations will be
paid strictly in accordance with the terms of the Indenture, regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of
Holders of the Debt Securities with respect thereto. The liability of the Guarantor under this
Guarantee shall be absolute and unconditional irrespective of:

     (i) any lack of validity, enforceability or genuineness of any provision of the
Indenture, the Debt Securities or any other agreement or instrument relating thereto;

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Obligations, or any other amendment or waiver of or any consent to
departure from the Indenture;

     (iii) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any other guarantee, for all or any of
the Obligations; or

     (iv) any other circumstance that might otherwise constitute a defense available to, or
a discharge of, the Issuer or a guarantor.

     SECTION 3. Ranking. The Guarantor covenants and agrees that its obligation to make
payments of the Obligations hereunder constitutes an unsecured obligation of the Guarantor ranking
(a) pari passu with all existing and future senior indebtedness of the Guarantor and (b) senior in
right of payment to all existing and future subordinated indebtedness of the Guarantor.

     SECTION 4. Waiver; Subrogation. (a) The Guarantor hereby waives promptness,
diligence, notice of acceptance and any other notice with respect to this Guarantee and any
requirement that the Trustee, or the Holders of any Debt Securities protect, secure, perfect or
insure any security interest or lien or any property subject thereto or exhaust any right or take
any action against the Issuer or any other Person or any collateral.

B-1

 

     (b) The Guarantor hereby irrevocably waives any claims or other rights that it may now or
hereafter acquire against the Issuer that arise from the existence, payment, performance or
enforcement of the Guarantor’s obligations under this Guarantee or the Indenture, including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution or
indemnification and any right to participate in any claim or remedy of the Trustee, or the Holders
of any Debt Securities against the Issuer or any collateral, whether or not such claim, remedy or
right arises in equity or under contract, statute or common law, including, without limitation, the
right to take or receive from the Issuer, directly or indirectly, in cash or other property or by
set-off or in any other manner, payment or security on account of such claim, remedy or right. If
any amount shall be paid to the Guarantor in violation of the preceding sentence at any time prior
to the cash payment in full of the Obligations and all other amounts payable under this Guarantee,
such amount shall be held in trust for the benefit of the Trustee and the Holders of any Debt
Securities and shall forthwith be paid to the Trustee, to be credited and applied to the
Obligations and all other amounts payable under this Guarantee, whether matured or unmatured, in
accordance with the terms of the Indenture and this Guarantee, or be held as collateral for any
Obligations or other amounts payable under this Guarantee thereafter arising. The Guarantor
acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by the Indenture and this Guarantee and that the waiver set forth in this Section 4 is
knowingly made in contemplation of such benefits.

     SECTION 5. No Waiver; Remedies. No failure on the part of the Trustee or any Holder
of the Debt Securities to exercise, and no delay in exercising, any right hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any
other or further exercise thereof or the exercise of any other right. The remedies herein provided
are cumulative and not exclusive of any remedies provided by law.

     SECTION 6. Continuing Guarantee; Transfer of Interest. This Guarantee is a continuing
guarantee and shall (a) remain in full force and effect until the earliest to occur of (i) the
date, if any, on which the Guarantor shall consolidate with or merge into the Issuer or any
successor thereto, (ii) the date, if any, on which the Issuer or any successor thereto shall
consolidate with or merge into the Guarantor, (iii) payment in full of the Obligations, and (iv)
the rating of the Issuer’s long term senior unsecured debt by Standard & Poor’s of A or higher, (b)
be binding upon the Guarantor, its successors and assigns, and (c) inure to the benefit of and be
enforceable by any Holder of Debt Securities, the Trustee, and by their respective successors,
transferees, and assigns.

     SECTION 7. Reinstatement. This Guarantee shall continue to be effective or be
reinstated, as the case may be, if at any time any payment of any of the Obligations is rescinded
or must otherwise be returned by any Holder of the Debt Securities or the Trustee upon the
insolvency, bankruptcy or reorganization of the Issuer or otherwise, all as though such payment had
not been made.

     SECTION 8. Amendment. The Guarantor may amend this Guarantee at any time for any
purpose without the consent of the Trustee or any Holder of the Debt Securities; provided, however,
that if such amendment adversely affects (a) the rights of the Trustee or (b) any Holder of the
Debt Securities, the prior written consent of the Trustee (in the case of (b), acting at the
written direction of the Holders of more than 50% in aggregate principal amount of Debt Securities)
shall be required.

     SECTION 9. Governing Law. This Guarantee shall be governed by, and construed in
accordance with the laws of the State of New York.

B-2

 

     IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	LORILLARD, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-3exv4w1

Exhibit 4.1

Execution Copy

 

HOLLY CORPORATION

AND EACH OF THE GUARANTORS PARTY HERETO

9.875% SENIOR NOTES DUE 2017

 

INDENTURE

Dated as of June 10, 2009

 

U.S. Bank Trust National Association

Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 
	Trust Indenture	 	 
	Act Section	 	Indenture Section
	310(a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	N.A.
	(a)(4)
	 	N.A.
	(a)(5)
	 	7.10
	(b)
	 	7.10
	(c)
	 	N.A.
	311(a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312(a)
	 	2.05
	(b)
	 	12.03
	(c)
	 	12.03
	313(a)
	 	7.06
	(b)(2)
	 	7.06; 7.07
	(c)
	 	7.06; 12.02
	(d)
	 	7.06
	314(a)
	 	4.03;12.02; 12.05
	(c)(1)
	 	12.04
	(c)(2)
	 	12.04
	(c)(3)
	 	N.A.
	(e)
	 	12.05
	(f)
	 	N.A.
	315(a)
	 	7.01
	(b)
	 	7.05; 12.02
	(c)
	 	7.01
	(d)
	 	7.01
	(e)
	 	6.11
	316(a) (last sentence)
	 	2.09
	(a)(1)(A)
	 	6.05
	(a)(1)(B)
	 	6.04
	(a)(2)
	 	N.A.
	(b)
	 	6.07
	(c)
	 	2.12
	317(a)(1)
	 	6.08
	(a)(2)
	 	6.09
	(b)
	 	2.04
	318(a)
	 	12.01
	(b)
	 	N.A.
	(c)
	 	12.01

 
 

N.A. means not applicable.

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

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1

	DEFINITIONS AND INCORPORATION

	BY REFERENCE

	 
	 	 	 	 
	Section 1.01 Definitions

	 	 	1	 
	Section 1.02 Other Definitions

	 	 	26	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act

	 	 	26	 
	Section 1.04 Rules of Construction

	 	 	27	 
	 
	 	 	 	 
	ARTICLE 2

	THE NOTES

	 
	 	 	 	 
	Section 2.01 Form and Dating

	 	 	27	 
	Section 2.02 Execution and Authentication

	 	 	28	 
	Section 2.03 Registrar and Paying Agent

	 	 	28	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	29	 
	Section 2.05 Holder Lists

	 	 	29	 
	Section 2.06 Transfer and Exchange

	 	 	29	 
	Section 2.07 Replacement Notes

	 	 	41	 
	Section 2.08 Outstanding Notes

	 	 	42	 
	Section 2.09 Treasury Notes

	 	 	42	 
	Section 2.10 Temporary Notes

	 	 	42	 
	Section 2.11 Cancellation

	 	 	42	 
	Section 2.12 Defaulted Interest

	 	 	43	 
	 
	 	 	 	 
	ARTICLE 3

	REDEMPTION AND PREPAYMENT

	 
	 	 	 	 
	Section 3.01 Notices to Trustee

	 	 	43	 
	Section 3.02 Selection of Notes to Be Redeemed

	 	 	43	 
	Section 3.03 Notice of Redemption

	 	 	44	 
	Section 3.04 Effect of Notice of Redemption

	 	 	45	 
	Section 3.05 Deposit of Redemption or Purchase Price

	 	 	45	 
	Section 3.06 Notes Redeemed or Purchased in Part

	 	 	45	 
	Section 3.07 Optional Redemption

	 	 	45	 
	Section 3.08 Mandatory Redemption

	 	 	46	 
	Section 3.09 Offer to Purchase by Application of Excess Proceeds

	 	 	46	 
	 
	 	 	 	 
	ARTICLE 4

	COVENANTS

	 
	 	 	 	 
	Section 4.01 Payment of Notes

	 	 	48	 
	Section 4.02 Maintenance of Office or Agency

	 	 	48	 
	Section 4.03 Reports

	 	 	48	 
	Section 4.04 Compliance Certificate

	 	 	49	 
	Section 4.05 Taxes

	 	 	50	 
	Section 4.06 Stay, Extension and Usury Laws

	 	 	50	 
	Section 4.07 Restricted Payments

	 	 	50	 
	Section 4.08 Dividend and Other Payment Restrictions Affecting Subsidiaries

	 	 	53	 
	Section 4.09 Incurrence of Indebtedness and Issuance of Disqualified Stock

	 	 	55	 

 

	 	 	 	 	 
	 	 	Page
	Section 4.10 Asset Sales

	 	 	56	 
	Section 4.11 Transactions with Affiliates

	 	 	58	 
	Section 4.12 Liens

	 	 	59	 
	Section 4.13 Line of Business

	 	 	60	 
	Section 4.14 Corporate Existence

	 	 	60	 
	Section 4.15 Offer to Repurchase Upon Change of Control

	 	 	60	 
	Section 4.16 Sale-and-Leaseback Transactions

	 	 	62	 
	Section 4.17 Payments for Consent

	 	 	62	 
	Section 4.18 Additional Guarantors

	 	 	62	 
	Section 4.19 Changes in Covenants when Notes Rated Investment Grade

	 	 	63	 
	 
	 	 	 	 
	ARTICLE 5

	SUCCESSORS

	 
	 	 	 	 
	Section 5.01 Merger, Consolidation, or Sale of Assets

	 	 	64	 
	Section 5.02 Successor Corporation Substituted

	 	 	65	 
	 
	 	 	 	 
	ARTICLE 6

	DEFAULTS AND REMEDIES

	 
	 	 	 	 
	Section 6.01 Events of Default

	 	 	65	 
	Section 6.02 Acceleration

	 	 	67	 
	Section 6.03 Other Remedies

	 	 	67	 
	Section 6.04 Waiver of Past Defaults

	 	 	67	 
	Section 6.05 Control by Majority

	 	 	68	 
	Section 6.06 Limitation on Suits

	 	 	68	 
	Section 6.07 Rights of Holders of Notes to Receive Payment

	 	 	68	 
	Section 6.08 Collection Suit by Trustee

	 	 	68	 
	Section 6.09 Trustee May File Proofs of Claim

	 	 	69	 
	Section 6.10 Priorities

	 	 	69	 
	Section 6.11 Undertaking for Costs

	 	 	69	 
	 
	 	 	 	 
	ARTICLE 7

	TRUSTEE

	 
	 	 	 	 
	Section 7.01 Duties of Trustee

	 	 	70	 
	Section 7.02 Rights of Trustee

	 	 	71	 
	Section 7.03 Individual Rights of Trustee

	 	 	71	 
	Section 7.04 Trustee’s Disclaimer

	 	 	71	 
	Section 7.05 Notice of Defaults

	 	 	71	 
	Section 7.06 Reports by Trustee to Holders of the Notes

	 	 	72	 
	Section 7.07 Compensation and Indemnity

	 	 	72	 
	Section 7.08 Replacement of Trustee

	 	 	73	 
	Section 7.09 Successor Trustee by Merger, etc

	 	 	74	 
	Section 7.10 Eligibility; Disqualification

	 	 	74	 
	Section 7.11 Preferential Collection of Claims Against Company

	 	 	74	 
	 
	 	 	 	 
	ARTICLE 8

	LEGAL DEFEASANCE AND COVENANT DEFEASANCE

	 
	 	 	 	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance

	 	 	74	 
	Section 8.02 Legal Defeasance and Discharge

	 	 	74	 
	Section 8.03 Covenant Defeasance

	 	 	75	 
	Section 8.04 Conditions to Legal or Covenant Defeasance

	 	 	75	 

ii

 

	 	 	 	 	 
	 	 	Page
	Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions

	 	 	76	 
	Section 8.06 Repayment to Company

	 	 	77	 
	Section 8.07 Reinstatement

	 	 	77	 
	 
	 	 	 	 
	ARTICLE 9

	AMENDMENT, SUPPLEMENT AND WAIVER

	 
	 	 	 	 
	Section 9.01 Without Consent of Holders of Notes

	 	 	78	 
	Section 9.02 With Consent of Holders of Notes

	 	 	78	 
	Section 9.03 Compliance with Trust Indenture Act

	 	 	80	 
	Section 9.04 Revocation and Effect of Consents

	 	 	80	 
	Section 9.05 Notation on or Exchange of Notes

	 	 	80	 
	Section 9.06 Trustee to Sign Amendments, etc

	 	 	80	 
	 
	 	 	 	 
	ARTICLE 10

	SUBSIDIARY GUARANTEES

	 
	 	 	 	 
	Section 10.01. Guarantee

	 	 	80	 
	Section 10.02. Limitation on Guarantor Liability

	 	 	81	 
	Section 10.03. Execution and Delivery of Subsidiary Guarantee

	 	 	82	 
	Section 10.04. Guarantors May Consolidate, etc., on Certain Terms

	 	 	82	 
	Section 10.05. Releases

	 	 	83	 
	 
	 	 	 	 
	ARTICLE 11

	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	Section 11.01 Satisfaction and Discharge

	 	 	84	 
	Section 11.02 Application of Trust Money

	 	 	85	 
	 
	 	 	 	 
	ARTICLE 12

	MISCELLANEOUS

	 
	 	 	 	 
	Section 12.01 Trust Indenture Act Controls

	 	 	85	 
	Section 12.02 Notices

	 	 	85	 
	Section 12.03 Communication by Holders of Notes with Other Holders of Notes

	 	 	86	 
	Section 12.04 Certificate and Opinion as to Conditions Precedent

	 	 	87	 
	Section 12.05 Statements Required in Certificate or Opinion

	 	 	87	 
	Section 12.06 Rules by Trustee and Agents

	 	 	87	 
	Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders

	 	 	87	 
	Section 12.08 Payment Date Other Than a Business Day

	 	 	87	 
	Section 12.09 Governing Law

	 	 	88	 
	Section 12.10 No Adverse Interpretation of Other Agreements

	 	 	88	 
	Section 12.11 Successors

	 	 	88	 
	Section 12.12 Severability

	 	 	88	 
	Section 12.13 Counterpart Originals

	 	 	88	 
	Section 12.14 Table of Contents, Headings, etc

	 	 	88	 
	 
	 	 	 	 
	EXHIBITS

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

iii

 

	 	 	 	 	 
	 	 	Page
	Exhibit E FORM OF NOTATION OF GUARANTEE
	 	 	 	 
	Exhibit F FORM OF SUPPLEMENTAL INDENTURE
	 	 	 	 

iv

 

     INDENTURE dated as of June 10, 2009 among Holly Corporation, a Delaware corporation (the
“Company”), the Guarantors (as defined) and U.S. Bank Trust National Association, as trustee.

     The Company, the Guarantors and the Trustee agree as follows for the benefit of each other and
for the equal and ratable benefit of the Holders (as defined) of the 9.875% Senior Notes due 2017
(the “Notes”):

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01 Definitions.

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

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

     (1) Indebtedness of any other Person existing at the time such other Person is merged
with or into or becomes a Subsidiary of such specified Person, whether or not such
Indebtedness is incurred in connection with, or in contemplation of, such other Person
merging with or into, or becoming a Subsidiary of, such specified Person, but excluding
Indebtedness which is extinguished, retired or repaid in connection with such Person merging
with or into or becoming a Subsidiary of such specific Person; and

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

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

     “Adjusted Net Assets” of a Guarantor at any date shall mean the amount by which the fair value
of the properties and assets of such Guarantor exceeds the total amount of liabilities, including
contingent liabilities (after giving effect to all other fixed and contingent liabilities incurred
or assumed on such date), but excluding liabilities under its Subsidiary Guarantee, of such
Guarantor at such date.

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For
purposes of this definition, “control,” as used with respect to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies
of such Person, whether through the ownership of voting securities, by agreement or otherwise;
provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to
be control. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” have correlative meanings.

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

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

1

 

     “Asset Contribution” means the contribution of certain asphalt terminals and/or any related
logistics assets by the Company or one or more Guarantors to HEP or its Subsidiaries.

     “Asset Sale” means:

     (1) the sale, lease, conveyance or other disposition (a “disposition”) of any assets or
rights by the Company or any of the Company’s Restricted Subsidiaries; provided that the
disposition of all or substantially all of the assets of the Company and its Subsidiaries
taken as a whole will be governed by the provisions of Section 4.15 hereof and the
provisions of Section 5.01 hereof and not by the provisions of Section 4.10 hereof;

     (2) the issue or sale by the Company or any of its Restricted Subsidiaries of Equity
Interests of any Restricted Subsidiary (other than directors’ qualifying shares or shares
required by applicable law to be held by a Person other than the Company or a Restricted
Subsidiary); and

     (3) any Event of Loss,

whether, in the case of clause (1), (2) or (3), in a single transaction or a series of related
transactions, provided that such transaction or series of transactions (a) has a fair market value
in excess of $10.0 million or (b) results in the payment of net proceeds in excess of $10.0
million.

     Notwithstanding the preceding, the following transactions will not be deemed to be Asset
Sales:

     (1) any sale, assignment, lease, license, transfer, abandonment or other disposition of
(A) damaged, worn-out, unserviceable or other obsolete or excess equipment or other property
or (B) other property no longer necessary for the proper conduct of the business of the
Company or any of its Subsidiaries;

     (2) a disposition of assets by the Company to a Restricted Subsidiary of the Company or
by a Restricted Subsidiary of the Company to the Company or to another Restricted Subsidiary
of the Company;

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

     (4) the consummation of (A) any Permitted Investment or (B) any Restricted Payment that
is permitted by this Indenture;

     (5) any sale of inventory or hydrocarbons or other products (including crude oil and
refined products), in each case in the ordinary course of business of the Company’s or its
Restricted Subsidiaries’ operations;

     (6) the sale or other disposition of cash or Cash Equivalents, Hedging Obligations or
other financial instruments in the ordinary course of business;

     (7) the creation of a Permitted Lien and any disposition of assets or rights resulting
from the enforcement of any Permitted Lien;

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

2

 

     (9) transactions with HEP or its Subsidiaries, other than sales of core refinery
assets, so long as with respect to such transactions the Company complies with the
provisions of Section 4.11 hereof; and

     (10) any disposition of defaulted receivables that arose in the ordinary course of
business for collection.

     “Attributable Indebtedness” in respect of a sale-and-leaseback transaction means, at the time
of determination, the present value of the obligation of the lessee for net rental payments during
the remaining term of the lease included in such sale-and-leaseback transaction including any
period for which such lease has been extended or may, at the option of the lessor, be extended. As
used in the preceding sentence, “net rental payments” under any lease for any such period shall
mean the sum of rental and other payments required to be paid with respect to such period by the
lessee thereunder, excluding any amounts required to be paid by such lessee on account of
maintenance and repairs, insurance, taxes, assessments, water rates or similar charges. In the
case of any lease that is terminable by the lessee upon payment of penalty, such net rental payment
shall also include the amount of such penalty, but no rent shall be considered as required to be
paid under such lease subsequent to the first date upon which it may be so terminated. For
purposes of this definition, present value shall be calculated using a discount rate equal to the
rate of interest implicit in the subject transaction, determined in accordance with GAAP; provided,
however, that if such sale-and-leaseback transaction results in a Capital Lease Obligation, the
amount of Indebtedness represented thereby will be determined in accordance with the definition of
“Capital Lease Obligation” in this Indenture.

     “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 committee thereof duly
authorized to act on behalf of such board.

     “Business Day” means any day other than a Legal Holiday.

     “Capital Lease Obligation” means an obligation that is required to be classified and accounted
for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of
Indebtedness represented by such obligation shall be, at the time any determination thereof is to
be made, the amount of the liability in respect of a capital lease that would at such time be
required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity
thereof shall be the date of the last payment of rent or any other amount due under such lease
prior to the first date upon which such lease may be prepaid by the lessee without payment of a
penalty.

     “Capital Stock” means:

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

     (2) in the case of a limited liability company or similar entity, any membership or
similar interest therein;

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

     (4) in the case of a partnership, partnership interests (whether general or limited);
and

3

 

     (5) any other interest or participation that confers on a Person the right to receive a
share of the profits and losses of, or distributions of assets of, the issuing Person, but
excluding from all of the foregoing any debt securities convertible into, or exchangeable
for, Capital Stock, whether or not such debt securities include any right of participation
with Capital Stock.

     “Cash Equivalents” means:

     (1) securities issued or fully guaranteed or insured by the U.S. Government having
maturities of not more than twenty-four (24) months from the date of acquisition thereof;

     (2) time deposits with, certificates of deposit, bankers’ acceptances or Eurodollar
time deposits of, any commercial bank that (a) is organized under the laws of the United
States of America, any state thereof or the District of Columbia or is the principal banking
subsidiary of a bank holding company organized under the laws of the United States of
America, any state thereof or the District of Columbia, and is a member of the Federal
Reserve System, (b) issues long term securities with a rating of at least A- (or then
equivalent grade, in each case with a stable outlook) by S&P and A3 (or then equivalent
grade, in each case with a stable outlook) by Moody’s at the time of acquisition and (c) has
combined capital and surplus of at least $500,000,000, in each case with maturities of not
more than twenty-four (24) months from the date of acquisition thereof;

     (3) commercial paper of an issuer rated at least “A-1” (or the then equivalent grade)
by S&P or “P-1” (or the then equivalent grade) by Moody’s at the time of acquisition or
guaranteed by a letter of credit issued by a financial institution rated at least A- (or
then equivalent grade, in each case with stable outlook) by S&P and A3 (or then equivalent
grade, in each case with stable outlook) by Moody’s at the time of acquisition and such
financial institution otherwise meets the requirements of subsections (a) and (c) of clause
(2) of this definition, in each case having a tenor of not more than 270 days;

     (4) taxable and tax-exempt municipal securities rated at least A- (or then equivalent
grade) by S&P and A3 (or then equivalent grade) by Moody’s, including variable rate
municipal securities, having maturities or put rights of not more than twenty-four (24)
months from the date of acquisition;

     (5) corporate or bank debt of an issuer rated at least A- (or then equivalent grade, in
each case with a stable outlook) by S&P and A3 (or then equivalent grade, in each case with
stable outlook) by Moody’s at the time of acquisition and having maturities of not more than
twenty-four (24) months from the date of acquisition;

     (6) repurchase agreements relating to any of the investments listed in clauses (1)
through (5) above with a market value at least equal to the consideration paid in connection
therewith, with any Person who regularly engages in the business of entering into repurchase
agreements and has a combined capital and surplus of not less than $500,000,000 whose long
term securities are rated at least A- (or then equivalent grade) by S&P and A3 (or then
equivalent grade) by Moody’s at the time of acquisition;

     (7) asset-backed securities having as the underlying asset securities issued or
guaranteed by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage
Association rated at least A- (or then equivalent grade, in each case with stable outlook)
by S&P and A3 (or then equivalent grade, in each case with stable outlook) by Moody’s at the
time of

4

 

acquisition and having maturities of not more than twenty-four (24) months from the
date of acquisition; and

     (8) Investments, classified in accordance with GAAP as current assets of the Company or
any of its Subsidiaries, in money market mutual or similar funds having assets in excess of
$100,000,000, at least 95% of the assets of which are comprised of assets specified in
clauses (1) through (4) above of this definition.

     “Change of Control” means the occurrence of one or more of the following:

     (1) the sale, lease, transfer, conveyance or other disposition (other than by merger or
consolidation), in one or a series of related transactions, of all or substantially all of
the properties or assets of the Company and its Subsidiaries, taken as a whole;

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

     (3) the consummation of any transaction (including any merger or consolidation) the
result of which is that any “person” (as such term is used in Section 13(d)(3) of the
Exchange Act) becomes the “beneficial owner” (as such term is defined in Rule 13d-3 and Rule
13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any
particular “person,” such “person” will be deemed to have beneficial ownership of all
securities that such “person” has the right to acquire by conversion or exercise of other
securities, whether such right is currently exercisable or is exercisable only after the
passage of time), directly or indirectly through one or more intermediaries, of more than
50% of the Voting Stock of the Company, measured by voting power rather than number of
            shares; or

     (4) the first day on which a majority of the members of the Board of Directors are not
Continuing Directors;

provided, however, that a transaction in which the Company becomes a Subsidiary of another Person
(other than a Person that is an individual) shall not constitute a Change of Control if (a) the
shareholders of the Company immediately prior to such transaction “beneficially own” (as such term
is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly through one
or more intermediaries, at least a majority of the outstanding Voting Stock of the Company,
measured by voting power rather than number of shares, immediately following the consummation of
such transaction and (b) immediately following the consummation of such transaction, no “person”
(as such term is defined above), other than such other Person (but including the holders of the
Equity Interests of such other Person), “beneficially owns” (as such term is defined above),
directly or indirectly through one or more intermediaries, more than 50% of the outstanding Voting
Stock of the Company, measured by voting power rather than number of shares.

     “Clearstream” means Clearstream Banking, S.A.

     “Company” means Holly Corporation, a Delaware corporation, and any and all successors
thereto.

     “Consolidated Cash Flow” means, with respect to any specified Person for any reference period,
the Consolidated Net Income of such Person for such period plus, without duplication:

5

 

     (1) provision for taxes based on income or profits of such Person and its Restricted
Subsidiaries for such period, to the extent that such provision for taxes was deducted in
computing such Consolidated Net Income; plus

     (2) the Consolidated Interest Expense of such Person and its Restricted Subsidiaries
for such period, to the extent that such Consolidated Interest Expense was deducted in
computing such Consolidated Net Income; plus

     (3) depreciation, amortization (including amortization of intangibles but excluding
amortization of prepaid cash expenses that were paid in a prior period) and other non-cash
expenses (excluding any such non-cash expense to the extent that it represents an accrual of
or reserve for cash expenses in any future period or amortization of a prepaid cash expense
that was paid in a prior period) of such Person and its Restricted Subsidiaries for such
period to the extent that such depreciation, amortization and other non-cash expenses were
deducted in computing such Consolidated Net Income; minus

     (4) non-cash items increasing such Consolidated Net Income for such period, other than
the accrual of revenue in the ordinary course of business,

in each case, on a consolidated basis and determined in accordance with GAAP.

     “Consolidated Interest Coverage Ratio” means with respect to any specified Person for any
period, the ratio of the Consolidated Cash Flow of such Person for such period to the Consolidated
Interest Expense of such Person for such period; provided, however, that the Consolidated Interest
Coverage Ratio shall be calculated giving pro forma effect to each of the following transactions as
if each such transaction had occurred at the beginning of the applicable four-quarter reference
period:

     (1) any incurrence, assumption, guarantee, repayment, repurchase, redemption,
defeasance or other discharge by such Person or any of its Restricted Subsidiaries of any
Indebtedness (other than revolving credit borrowings) or any issue, repurchase or other
retirement of any Disqualified Stock by any of them, subsequent to the commencement of the
period for which the Consolidated Interest Coverage Ratio is being calculated but prior to
the date on which the event for which the calculation of the Consolidated Interest Coverage
Ratio is made (the “Calculation Date”); and

     (2) any acquisition that has been made by such Person or any of its Restricted
Subsidiaries, or approved and expected to be consummated within 30 days of the Calculation
Date, including, in each case, through a merger or consolidation, and including any related
financing transactions, during the reference period or subsequent to such reference period
and on or prior to the Calculation Date; provided that pro forma effect (in accordance with
Regulation S-X under the Securities Act) shall be given to the Consolidated Cash Flow of the
Person which is the subject of any such acquisition;

provided, further, that (a) the Consolidated Cash Flow attributable to discontinued operations, as
determined in accordance with GAAP, and operations or businesses (and ownership interests therein)
disposed of prior to the Calculation Date, shall be excluded, (b) the Consolidated Interest Expense
attributable to discontinued operations, as determined in accordance with GAAP, and operations or
businesses (and ownership interests therein) disposed of prior to the Calculation Date, shall be
excluded, but only to the extent that the obligations giving rise to such Consolidated Interest
Expense will not be obligations of the specified Person or any of its Restricted Subsidiaries
following the Calculation Date, (c) the Consolidated Interest Expense attributable to interest on
any Indebtedness bearing a floating

6

 

interest rate shall be computed on a pro forma basis as if the average rate in effect from the
beginning of the reference period to the Calculation Date had been the applicable rate for the
entire period, unless such Person or any of its Subsidiaries is a party to an applicable Hedging
Obligation (which shall remain in effect for the 12-month period immediately following the
Calculation Date) that has the effect of fixing the interest rate on the date of computation, in
which case such rate (whether higher or lower) shall be used, (d) any Person that is a Restricted
Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary at all times
during such four-quarter period and (e) any Person that is not a Restricted Subsidiary on the
Calculation Date will be deemed not to have been a Restricted Subsidiary at any time during such
four-quarter period.

     “Consolidated Interest Expense” means, with respect to any Person for any period, determined
on a consolidated basis in accordance with GAAP, the sum of, without duplication:

     (1) the consolidated interest expense of such Person and its Restricted Subsidiaries
for such period, whether paid or accrued (including amortization of debt issuance costs and
original issue discount, non-cash interest payments, the interest component of any deferred
payment obligations, the interest component of all payments associated with Capital Lease
Obligations, imputed interest with respect to Attributable Indebtedness, commissions,
discounts and other fees and charges incurred in respect of letter of credit or bankers’
acceptance financings, and net payments (if any) made or received pursuant to interest rate
Hedging Obligations);

     (2) the consolidated interest expense of such Person and its Restricted Subsidiaries
that was capitalized during such period;

     (3) any interest on Indebtedness of another Person that is guaranteed by such Person or
one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of
its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon; and

     (4) the product of (a) all dividends, whether paid or accrued and whether or not in
cash, on any series of Disqualified Stock of such Person or any preferred stock of its
Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity
Interests of such Person (other than Disqualified Stock) or to such Person or a Restricted
Subsidiary of such Person, times (b) a fraction, the numerator of which is one and the
denominator of which is one minus the then current combined federal, state and local
statutory tax rate of such Person, expressed as a decimal, in each case, determined on a
consolidated basis in accordance with GAAP.

     “Consolidated Net Income” means, with respect to any specified Person for any period, the
aggregate of the net income (loss) of such Person and its Restricted Subsidiaries for such period,
on a consolidated basis, determined in accordance with GAAP and without any reduction in respect of
preferred stock dividends, provided that:

     (1) the net income (but not loss) of any Person that is not a Restricted Subsidiary or
that is accounted for by the equity method of accounting shall be included only to the
extent of the amount of dividends or distributions paid in cash to the specified Person or a
Restricted Subsidiary thereof;

     (2) the net income (but not loss) of any Restricted Subsidiary shall be excluded to the
extent that the declaration or payment of dividends or similar distributions by that
Restricted Subsidiary of that net income is not at the date of determination permitted
without any prior

7

 

governmental approval (that has not been obtained) or, directly or indirectly, by
operation of the terms of its charter or any agreement, instrument, judgment, decree, order,
statute, rule or governmental regulation applicable to that Restricted Subsidiary or its
equityholders;

     (3) the cumulative effect of a change in accounting principles shall be excluded;

     (4) any non-cash compensation charge arising from any grant of stock, stock options or
other equity-based awards shall be excluded;

     (5) any gain or loss, together with any related provision for taxes on such gain or
loss, realized in connection with (a) any Asset Sale (including dispositions pursuant to
sale-and-leaseback transactions) or (b) the disposition of any securities by such Person or
the extinguishment of any Indebtedness of such Person shall be excluded;

     (6) non-cash gains and losses attributable to movement in the mark-to-market valuation
of Hedging Obligations pursuant to Financial Accounting Standards Board Statement No. 133
shall be excluded;

     (7) any impairment charge or asset write-off pursuant to Financial Accounting Standards
Board Statement No. 142 “Goodwill and Other Intangible Assets” shall be excluded; and

     (8) any extraordinary or nonrecurring gain or loss, together with any related provision
for taxes on such extraordinary or nonrecurring gain or loss, shall be excluded.

     “Consolidated Net Tangible Assets” means, with respect to any Person at any date of
determination, the aggregate amount of total assets included in such Person’s and such Person’s
Restricted Subsidiaries’ most recent quarterly or annual consolidated balance sheet prepared in
accordance with GAAP less applicable reserves reflected in such balance sheet, after deducting the
following amounts: (a) all current liabilities of such Person and its Restricted Subsidiaries
reflected in such balance sheet, and (b) all goodwill, trademarks, patents, unamortized debt
discounts and expenses and other like intangibles of such Person and its Restricted Subsidiaries
reflected in such balance sheet.

     “continuing” means, with respect to any Default or Event of Default, that such Default or
Event of Default has not been cured or waived.

     “Continuing Director” means, as of any date of determination, any member of the Board of
Directors, who:

     (1) was a member of the Board of Directors on the Issue Date; or

     (2) was nominated for election to the Board of Directors with the approval of, or whose
election to the Board of Directors was ratified by, a majority of the Continuing Directors
who were members of the Board of Directors at the time of such nomination or election.

     “Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in
Section 12.02 hereof (except with respect to payments on the Notes and any exchange, transfer, or
surrender of the Notes, in which case this address will be c/o U.S. Bank National Association, 60
Livingston Avenue,

8

 

St. Paul, Minnesota 55107, Attention: Bond Drop Window, or, at 100 Wall Street, Suite 1600,
New York, New York 10005) or such other address as to which the Trustee may give notice to the
Company.

     “Credit Agreement” means that certain Second Amended and Restated Credit Agreement, dated as
of April 7, 2009, among the Company, as the Borrower, Bank of America, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer, UBS Loan Finance LLC and U.S. Bank National Association,
as Co-Documentation Agents, Union Bank of California, N.A. and Compass Bank, as Syndication Agents,
the other lenders party thereto and Banc of America Securities LLC, as Lead Arranger and Sole Book
Manager, including any related notes, guarantees, collateral documents, instruments and agreements
executed in connection therewith, and in each case as amended, restated, supplemented, modified,
renewed, refunded, replaced or refinanced in whole or in part from time to time, including
increases in the principal amount thereof.

     “Credit Facilities” means one or more debt facilities (including the Credit Agreement), notes,
indentures or commercial paper facilities, in each case with banks, investment funds, noteholders
or other lenders providing for revolving credit loans, term loans, receivables financings,
including through the sale of receivables to such lenders or to special purpose entities formed to
borrow from such lenders against such receivables, letters of credit, bonds, notes, indentures or
debentures, in each case, as amended, restated, supplemented, modified, renewed, refunded, replaced
or refinanced (including by means of sales of debt securities to institutional or other investors)
in whole or in part from time to time.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor entity thereto.

     “Default” means, with respect to the Notes, any event that is, or after notice or the lapse of
time or both would be, an Event of Default.

     “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except
that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges
of Interests in the Global Note” attached thereto.

     “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Indenture.

     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible or for which it is exchangeable), or upon the happening of
any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to
the date that is 91 days after the date on which the Notes mature or are redeemed or retired in
full; provided, however, that any Capital Stock that would constitute Disqualified Stock solely
because the holders thereof (or of any security into which it is convertible or for which it is
exchangeable) have the right to require the issuer to repurchase such Capital Stock (or such
security into which it is convertible or for which it is exchangeable) upon the occurrence of any
of the events constituting an Asset Sale or a Change of Control shall not constitute Disqualified
Stock if such Capital Stock (and all such securities into which it is convertible or for which it
is exchangeable) provides that the issuer thereof will not repurchase or redeem any such Capital
Stock (or any such security into which it is convertible or for which it is exchangeable) pursuant
to such provisions prior to

9

 

compliance by the Company with the provisions of Section 4.10 or Section 4.15 hereof, as the
case may be. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of
this Indenture will be the maximum amount that the Company and its Restricted Subsidiaries may
become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions
of, such Disqualified Stock, exclusive of accrued dividends.

     “Domestic Restricted Subsidiary” means any Restricted Subsidiary of the Company that was
formed under the laws of the United States or any state of the United States or the District of
Columbia or that guarantees or otherwise provides direct credit support for any Indebtedness of the
Company.

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

     “Equity Offering” means any sale of Equity Interests (other than Disqualified Stock) of the
Company either pursuant to an offering registered under the Securities Act or a private placement.

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

     “Event of Loss” means, with respect to any property or asset of the Company or any Restricted
Subsidiary of the Company, (a) any damage to such property or asset that results in an insurance
settlement with respect thereto on the basis of a total loss or a constructive or compromised total
loss or (b) the confiscation, condemnation or requisition of title to such property or asset by any
government or instrumentality or agency thereof. An Event of Loss shall be deemed to occur as of
the date of the insurance settlement, confiscation, condemnation or requisition of title, as
applicable.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Exchange Notes” means the Notes issued in the Exchange Offer pursuant to Section 2.06(f)
hereof.

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

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

     “Existing Indebtedness” means Indebtedness of the Company and its Restricted Subsidiaries
(other than Indebtedness under a Credit Facility) in existence on the Issue Date, until such
amounts are repaid.

     “fair market value” means, with respect to any asset or Investment, the fair market value of
such asset or Investment at the time of the event requiring such determination, as determined in
good faith by an officer of the Company or, with respect to any asset or Investment in excess of
$10.0 million (other than cash or Cash Equivalents), as determined by the Board of Directors.

     “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not organized
under the laws of the United States of America or any state thereof or the District of Columbia.

     “GAAP” means accounting principles generally accepted in the United States of America which
are in effect from time to time.

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     “Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is
required to be placed on all Global Notes issued under this Indenture.

     “Global Notes” means, individually and collectively, each of the Restricted Global Notes and
the Unrestricted Global Notes.

     “Government Securities” means direct obligations of, or obligations guaranteed by, the United
States of America, and the payment for which the United States pledges its full faith and credit.

     “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of
partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or
services, to take or pay or to maintain financial statement conditions or otherwise).

     “Guarantor” means any Subsidiary of the Company that becomes a guarantor of the Notes in
accordance with the provisions of this Indenture, and their respective successors and assigns, in
each case, until the Subsidiary Guarantee of such Person has been released in accordance with the
provisions of this Indenture.

     “Hedging Obligations” means, with respect to any Person, the obligations (to the extent they
are incurred in the ordinary course of business) of such Person under:

     (1) interest rate swap agreements, interest rate cap agreements and interest rate
collar agreements, but only to the extent that the notional amounts of such agreements do
not exceed 100% of the aggregate principal amount of such Indebtedness to which such
agreement relates;

     (2) other agreements or arrangements designed to protect such Person against
fluctuations in interest rates;

     (3) any hedging agreement or other arrangement, in each case that is designed to
provide protection against fluctuations in the price of crude oil, gasoline and other
refined products and natural gas (in the ordinary course of business and not for speculative
purposes);

     (4) any foreign currency futures contract, option or similar agreement or arrangement
designed to protect such Person against fluctuations in foreign currency rates; and

     (5) any form of master agreement published by the International Swaps and Derivatives
Association, Inc., any International Foreign Exchange Master Agreement or any other master
agreement.

     “HEP” means Holly Energy Partners, L.P., a Delaware limited partnership.

     “HEP LP” means HEP Logistics Holdings, L.P., a Delaware limited partnership.

     “Holder” means a Person in whose name a Note is registered.

     “hydrocarbons” means crude oil, natural gas, natural gas liquids, casinghead gas, drip
gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents,
elements or compounds thereof and products refined or processed therefrom.

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

     “Indebtedness” means, with respect to any Person, any indebtedness of such Person, whether or
not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar
instruments or letters of credit (or reimbursement agreements in respect thereof) or bankers’
acceptances or representing Capital Lease Obligations or Attributable Indebtedness in respect of
sale-and-leaseback transactions or the balance deferred and unpaid of the purchase price of any
property due more than six months after such property is acquired or such services are completed,
except any such balance that constitutes an accrued expense or trade payable, or representing any
Hedging Obligation, if and to the extent any of the preceding items (other than letters of credit,
Attributable Indebtedness and Hedging Obligations) would appear as a liability upon a balance sheet
of such Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all
Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such
Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the
guarantee by the specified Person of any Indebtedness of any other Person. Indebtedness shall be
calculated without giving effect to the effects of Statement of Financial Accounting Standards No.
133 and related interpretations to the extent such effects would otherwise increase or decrease an
amount of Indebtedness for any purpose under this Indenture as a result of accounting for any
embedded derivatives created by the terms of such Indebtedness.

     Notwithstanding the foregoing, the following shall not constitute Indebtedness:

     (a) any indebtedness that has been defeased in accordance with GAAP or defeased
pursuant to the deposit of cash or Cash Equivalents (in an amount sufficient to satisfy all
obligations relating thereto at Stated Maturity or redemption, as applicable, including all
payments of interest (including Special Interest, if any) and premium, if any) in a trust or
account created or pledged for the sole benefit of the holders of such indebtedness, and
subject to no other Liens, and in accordance with the other applicable terms of the
instrument governing such indebtedness; and

     (b) any obligation arising from any agreement providing for indemnities, guarantees,
purchase price adjustments, holdbacks or contingency payment obligations based on the
performance of the acquired or disposed assets or similar obligations (other than guarantees
of Indebtedness) incurred by any Person in connection with the acquisition or disposition of
assets.

     “Indemnification Agreements” means, collectively, (i) that certain Indemnification Agreement
dated as of July 8, 2005 (as amended, amended and restated, supplemented or otherwise modified from
time to time), executed by Navajo Pipeline Co., L.P., a Delaware limited partnership, for the
benefit of HEP LP, (ii) that certain Indemnification Agreement dated as of February 29, 2008 (as
amended, amended and restated, supplemented or otherwise modified from time to time), executed by
Navajo Pipeline Co., L.P., for the benefit of HEP LP, (iii) that certain Indemnification Agreement
dated as of February 29, 2008 (as amended, amended and restated, supplemented or otherwise modified
from time to time), executed by Navajo Refining Company, L.L.C., a Delaware limited liability
company, for the benefit of HEP LP, (iv) that certain Indemnification Agreement dated as of
February 29, 2008 (as amended, amended and restated, supplemented or otherwise modified from time
to time), executed by Woods Cross Refining Company, L.L.C., a Delaware limited liability company,
for the benefit of HEP LP and (v) any other indemnification agreement (as amended, amended and
restated, supplemented or otherwise modified from time to time), for the benefit of HEP LP, entered
into by the Company or any Guarantor pursuant to the terms of the Asset Contribution after the
Issue Date.

12

 

     “Indenture” means this Indenture, as amended or supplemented from time to time.

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

     “Initial Notes” means the first $200,000,000 aggregate principal amount of Notes issued under
this Indenture on the date hereof.

     “Initial Purchasers” means UBS Securities LLC, Banc of America Securities LLC and Goldman,
Sachs & Co.

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

     “Investment Grade Rating” of the Notes, means that the Notes shall have been assigned a
Moody’s rating of Baa3 or higher and an S&P rating of BBB- or higher, or if one of such rating
agencies shall not make a rating on the Notes publicly available for reasons outside the control of
the Company, then “Investment Grade Rating” shall mean that the Notes shall have been assigned such
a rating by one of such rating agencies and an equivalent investment grade credit rating from any
other “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company.

     “Investments” means, with respect to any Person, all investments by such Person in other
Persons (including Affiliates) in the forms of direct or indirect loans (including guarantees by
the referent Person of, and Liens on any assets of the referent Person securing, Indebtedness or
other obligations of other Persons), advances or capital contributions (excluding commission,
travel and similar advances to officers and employees made in the ordinary course of business),
purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other
securities, together with all items that are or would be classified as investments on a balance
sheet prepared in accordance with GAAP; provided, however, that the following shall not constitute
Investments:

     (1) extensions of trade credit or other advances to customers on commercially
reasonable terms in accordance with normal trade practices or otherwise in the ordinary
course of business; and

     (2) endorsements of negotiable instruments and documents in the ordinary course of
business.

     If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any
Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after
giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of
the Company, the Company shall be deemed to have made an Investment on the date of any such sale or
disposition equal to the fair market value of the Equity Interests of such Restricted Subsidiary
not sold or disposed of in an amount determined as provided in Section 4.07(f) hereof. The
acquisition by the Company or any Restricted Subsidiary of the Company of a Person that holds an
Investment in a third Person will be deemed to be an Investment by the Company or such Restricted
Subsidiary in such third Person in an amount equal to the fair market value of the Investments held
by the acquired Person in such third Person in an amount determined as provided in Section 4.07(f)
hereof. Except as otherwise provided in this Indenture, the amount of an Investment will be
determined at the time the Investment is made and without giving effect to subsequent changes in
value.

13

 

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

     “Joint Venture Investments” means Investments in joint ventures or similar entities, provided
that the applicable joint venture or similar entity must engage in a Principal Business.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in Dallas,
Texas, the City of New York or at a place of payment are authorized by law, regulation or executive
order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be
made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue on such payment for the intervening period.

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

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction other than a precautionary financing statement
respecting a lease not intended as a security agreement.

     “Make-Whole Amount” with respect to a Note means an amount equal to the excess, if any, of:

     (1) the present value of the remaining interest (including Special Interest, if
any), premium, if any, and principal payments due on such note as if such note were redeemed
on June 15, 2013 computed using a discount rate equal to the Treasury Rate plus 50
basis points, over

     (2) the outstanding principal amount of such Note.

     “Make-Whole Average Life” means the number of years (calculated to the nearest one-twelfth)
between the date of redemption and June 15, 2013.

     “Make-Whole Price” with respect to a Note means the greater of:

     (1) the sum of the outstanding principal amount and Make-Whole Amount of such
Note; and

     (2) the redemption price of such Note on June 15, 2013, determined pursuant to
the indenture (104.9375% of the principal amount).

     “MLP Parties” means, collectively, Holly Logistics Services, L.L.C., HEP LP, HEP Logistics GP,
L.L.C., HEP and each of its Subsidiaries.

     “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof.

     “Net Proceeds” means the aggregate cash proceeds and Cash Equivalents received by the Company
or any of its Restricted Subsidiaries in respect of any Asset Sale (including any cash or Cash

14

 

Equivalents received upon the sale or other disposition of any non-Cash Consideration received
in any Asset Sale), net of, without duplication:

     (1) the direct costs relating to such Asset Sale (including legal, accounting and
investment banking fees, sales commissions, recording fees, title transfer fees, title
insurance premiums, appraiser fees and costs incurred in connection with preparing such
asset for sale) and any relocation expenses incurred as a result thereof;

     (2) taxes paid or estimated to be payable as a result thereof (after taking into
account any available tax credits or deductions and any tax sharing arrangements);

     (3) amounts required to be applied to the repayment of Indebtedness (other than
Indebtedness under a revolving credit facility) secured by a Lien on the asset or assets
that were the subject of such Asset Sale;

     (4) any reserve established in accordance with GAAP or any amount placed in escrow, in
either case for adjustment in respect of the sale price of such asset or assets, until such
time as such reserve is reversed or such escrow arrangement is terminated, in which case Net
Proceeds shall include only the amount of the reserve so reversed or the amount returned to
the Company or its Restricted Subsidiaries from such escrow arrangement, as the case may be;
and

     (5) all distributions and other payments required to be made to minority interest
holders in Restricted Subsidiaries as a result of such Asset Sale.

     “Non-Recourse Debt” means Indebtedness (other than under an Indemnification Agreement):

     (1) as to which neither the Company nor any of its Restricted Subsidiaries provides
credit support of any kind (including any undertaking, agreement or instrument that would
constitute Indebtedness) or is otherwise directly or indirectly liable (as a guarantor or
otherwise); and

     (2) no default with respect to which (including any rights the holders thereof may have
to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice,
lapse of time or both) the holders of other Indebtedness of the Company or any of its
Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment
thereof to be accelerated or payable prior to its Stated Maturity.

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

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

     “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any
Indebtedness.

15

 

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such

Person.

     “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of
the Company, one of whom must be the principal executive officer, the principal financial officer,
the treasurer or the principal accounting officer of the Company, that meets the requirements of
Section 12.05 hereof.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 12.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Pari Passu Indebtedness” means, with respect to any Net Proceeds from Asset Sales,
Indebtedness of the Company and its Restricted Subsidiaries, excluding any Subordinated
Indebtedness, the terms of which require the Company or such Restricted Subsidiary to apply such
Net Proceeds to offer to repurchase such Indebtedness.

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

     “Participating Broker-Dealer” has the meaning set forth in the Registration Rights Agreement.

     “Permitted Indebtedness” means:

     (1) the incurrence by the Company or a Restricted Subsidiary of the Company of
additional Indebtedness under any Credit Facility so long as the aggregate principal amount
at any time outstanding of all Indebtedness incurred under this clause (1) does not exceed
the greater of (a) $450.0 million and (b) an amount equal to the sum of (i) 95% of the book
value of accounts receivable (less allowance for doubtful accounts), (ii) 90% of the
inventory (less applicable reserves) of the Company and its Restricted Subsidiaries,
calculated on a consolidated basis and in accordance with GAAP, and (iii) 100% of cash held
by the Company and the Guarantors as of the date of the Company’s most recently available
internal balance sheet; provided that Restricted Subsidiaries that are not Guarantors may
not incur more than $25.0 million of Indebtedness pursuant to this clause (1);

     (2) the incurrence by the Company and its Restricted Subsidiaries of Existing
Indebtedness;

     (3) the incurrence by the Company and its Restricted Subsidiaries of Hedging
Obligations;

     (4) the incurrence by the Company and the Guarantors of Indebtedness represented by the
Notes to be issued on the date of this Indenture and the related Subsidiary Guarantees and
the Exchange Notes and the related Subsidiary Guarantees to be issued pursuant to the
Registration Rights Agreement;

16

 

     (5) the incurrence or issuance by the Company or any of its Restricted Subsidiaries of
intercompany Indebtedness or Disqualified Stock between or among the Company and any of its
Restricted Subsidiaries or between or among any Restricted Subsidiaries; provided, however,
that (a) if the Company or any Guarantor is the obligor on such Indebtedness and the payee
is not the Company or a Guarantor, such Indebtedness must be unsecured and expressly
subordinated to the prior payment in full in cash of all obligations then due with respect
to the Notes, in the case of the Company, or the Subsidiary Guarantee, in the case of a
Guarantor; and (b) (A) any subsequent issuance or transfer of Equity Interests that results
in any such Indebtedness or Disqualified Stock being held by a Person other than the Company
or a Restricted Subsidiary of the Company and (B) any sale or other transfer of any such
Indebtedness or Disqualified Stock to a Person that is not either the Company or a
Restricted Subsidiary of the Company, will be deemed, in the case of each of clause (A) and
(B), to constitute an incurrence or issuance of such Indebtedness or Disqualified Stock, as
the case may be, by the Company or such Restricted Subsidiary, as the case may be, that was
not permitted by this clause (5);

     (6) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness
in respect of workers’ compensation claims, self-insurance obligations, bankers’
acceptances, performance bonds, completion bonds, bid bonds, appeal bonds and surety bonds
or other similar bonds or obligations, in each case incurred in the ordinary course of
business, and any guarantees or letters of credit functioning as or supporting any of the
foregoing;

     (7) the incurrence by the Company or any of its Restricted Subsidiaries of Permitted
Refinancing Indebtedness in exchange for, or the net proceeds of which are used to extend,
refinance, renew, replace, defease, refund, discharge or otherwise retire Indebtedness or
Disqualified Stock that was permitted by this Indenture to be incurred pursuant to clauses
(2), (4), (7) or (12) of this definition or Section 4.09(a) hereof;

     (8) incurrence by any Subsidiary of the Company of a Subsidiary Guarantee;

     (9) incurrence of Non-Recourse Debt;

     (10) the guarantee by the Company or any of the Guarantors of Indebtedness of the
Company or a Subsidiary of the Company and the guarantee by any Foreign Subsidiary of
Indebtedness of another Foreign Subsidiary, in each case, that was permitted to be incurred
by this definition or the provisions of Section 4.09 hereof;

     (11) the incurrence by the Company or any of its Restricted Subsidiaries of
Indebtedness arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument inadvertently drawn against insufficient funds, so long as such
Indebtedness is covered within ten business days;

     (12) the incurrence by the Company or any of its Restricted Subsidiaries of
Indebtedness represented by Capital Lease Obligations, Synthetic Lease Obligations, mortgage
financings or purchase money obligations, in each case, incurred for the purpose of
financing all or any part of the purchase price or cost of design, construction,
installation or improvement of property, plant or equipment used in the business of the
Company or any of its Restricted Subsidiaries, in an aggregate principal amount, including
all Permitted Refinancing Indebtedness incurred to refund, refinance, replace, defease or
discharge any Indebtedness incurred pursuant to this clause (12), not to exceed $40 million
at any time outstanding;

17

 

     (13) obligations (contingent or otherwise) of the Company or of its Restricted
Subsidiaries or arising under the Indemnification Agreements in an aggregate amount not to
exceed by more than $5.0 million the total consideration paid by HEP to the Company in
connection with the transactions in which the Company became obligated under such
Indemnification Agreements; and

     (14) incurrence by the Company or any Guarantor of any additional Indebtedness
(measured by principal amount or accreted value, as applicable) or Disqualified Stock
(measured by the greater of its voluntary or involuntary maximum fixed repurchase or
redemption price plus accrued and unpaid dividends (if not included in such redemption
price)), in an aggregate principal amount, including all Permitted Refinancing Indebtedness
incurred to refund, refinance, replace, defease or discharge such Indebtedness pursuant to
this clause (14), not to exceed $25.0 million at any time outstanding.

     “Permitted Investments” means:

     (1) any Investment in the Company or in a Restricted Subsidiary of the Company,
including any Investment in the Notes;

     (2) any Investment in cash or Cash Equivalents;

     (3) any Investment by the Company or any Restricted Subsidiary of the Company in a
Person if as a result of such Investment (a) such Person becomes a Restricted Subsidiary of
the Company or (b) such Person is merged, consolidated or amalgamated with or into, or
transfers or conveys all or substantially all of its properties or assets to, or is
liquidated into, the Company or a Restricted Subsidiary of the Company;

     (4) any Investment made as a result of the receipt of non-cash consideration from (a)
an Asset Sale that was made pursuant to and in compliance with Section 4.10 hereof or (b) a
disposition of assets that does not constitute an Asset Sale;

     (5) any Investment in any Person solely in exchange for the issuance of Equity
Interests (other than Disqualified Stock) of the Company;

     (6) any Investments received in compromise or resolution of (a) obligations of trade
creditors or customers that were incurred in the ordinary course of business, including
pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or
insolvency of any trade creditor or customer, or as a result of a foreclosure by the Company
or any of its Restricted Subsidiaries with respect to any secured Investment in default or
(b) litigation, arbitration or other disputes with Persons who are not Affiliates;

     (7) Investments represented by Hedging Obligations;

     (8) Investments in a Person engaged in a Principal Business, provided that the
aggregate amount of such Investments pursuant to this clause (8) in Persons that are not
Restricted Subsidiaries of the Company shall not exceed at any one time the greater of (a)
$50.0 million and (b) 5.0% of the Consolidated Net Tangible Assets of the Company at the
time of such Investment;

     (9) Investment in any Person to the extent such Investment consists of prepaid
expenses, negotiable instruments held for collection and lease, utility and workers’
compensation,

18

 

     performance and other similar deposits made in the ordinary course of business by the
Company or any Restricted Subsidiary;

     (10) any Investment (including Joint Venture Investments) existing on, or made pursuant
to binding commitments existing on, the Issue Date and any Investment consisting of an
extension, modification or renewal of any Investment existing on, or made pursuant to a
binding commitment existing on, the Issue Date; provided that the amount of any such
Investment may be increased (a) as required by the terms of such Investment as in existence
on the Issue Date or (b) as otherwise permitted under this Indenture;

     (11) Investments in any MLP Party in the form of debt instruments or Equity Interests
issued by such MLP Party that are received in consideration for logistics assets of the
Company or any Restricted Subsidiary of the Company; provided that fair market value is
received by the Company and its Restricted Subsidiaries in consideration for such assets;
and

     (12) Investments (i) to maintain a 2% general partnership interest in HEP or (ii) in
order to purchase additional limited partnership interests in HEP and/or to provide funding
to one or more MLP Parties for acquisitions of master limited partnership qualifying assets
or capital expenditures in an aggregate amount not to exceed $40.0 million outstanding at
any one time.

     “Permitted Liens” means:

     (1) Liens securing Indebtedness incurred pursuant to clause (1) of the definition of
“Permitted Indebtedness”; provided, however, that during any period when the provisions of
Section 4.09 hereof are suspended pursuant to Section 4.19 hereof, the clause (1) listed
under the definition of “Permitted Indebtedness” in this Indenture shall be deemed to be in
effect solely for purposes of determining compliance with this clause (1);

     (2) Liens in favor of the Company or any of the Guarantors;

     (3) Liens on property of a Person existing at the time such Person is merged into or
consolidated with the Company or any Restricted Subsidiary of the Company, provided that
such Liens were in existence prior to its contemplation of such merger or consolidation and
do not extend to any property other than those of the Person merged into or consolidated
with the Company or any of its Restricted Subsidiaries;

     (4) Liens on property existing at the time of acquisition thereof by the Company or any
Restricted Subsidiary of the Company, provided that such Liens were in existence prior to
its contemplation of such acquisition and do not extend to any other property;

     (5) deposits to secure the performance of bids, trade contracts and leases, statutory
obligations, surety bonds (other than bonds related to judgments or litigation), performance
bonds and other obligations of a like nature incurred in the ordinary course of business;

     (6) Liens securing Hedging Obligations;

     (7) Liens existing on the Issue Date;

     (8) Liens securing Non-Recourse Debt;

19

 

     (9) any interest or title of a lessor under, or Liens that secure, a Capital Lease
Obligation or an operating lease;

     (10) Liens arising by reason of deposits necessary to obtain standby letters of credit
in the ordinary course of business;

     (11) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any
Lien imposed by ERISA;

     (12) easements, rights-of-way, restrictions and other similar encumbrances affecting
real property which, in the aggregate, are not substantial in amount, and which do not in
any case materially detract from the value of the property subject thereto or materially
interfere with the ordinary conduct of the business of the Company or any Restricted
Subsidiary;

     (13) any other Liens imposed by operation of law which do not materially affect the
Company’s or any Guarantor’s ability to perform its obligations under the Notes or any
Subsidiary Guarantee;

     (14) any attachment or judgment Lien, unless the judgment it secures shall not, within
60 days after the entry thereof, have been discharged or execution thereof stayed pending
appeal, or shall not have been discharged within 60 days after the expiration of any such
stay;

     (15) Liens to secure Purchase Money Indebtedness or other Indebtedness incurred
pursuant to clause (12) of the definition of “Permitted Indebtedness” of this Indenture
which Liens shall not extend to any other property or assets of the Company or a Restricted
Subsidiary (other than any associated accounts, contracts and insurance proceeds);

     (16) Liens securing Permitted Refinancing Indebtedness with respect to any Indebtedness
referred to in clauses (3), (4) and (15) of this definition;

     (17) Liens incurred in the ordinary course of business of the Company or any Restricted
Subsidiary of the Company with respect to Indebtedness that does not exceed $5.0 million at
any one time outstanding and that (a) are not incurred in connection with the borrowing of
money or the obtaining of advances or credit (other than trade credit in the ordinary course
of business) and (b) do not in the aggregate materially detract from the value of the
property or materially impair the use thereof in the operation of business by the Company or
such Restricted Subsidiary;

     (18) Liens securing Indebtedness in respect of any tax exempt bonds or notes, economic
or industrial development financing, tax beneficial or other municipal, county or state
sponsored financing, or similar government sponsored financing; provided that (i) the
Indebtedness secured by such Lien shall be incurred by the Company or a Guarantor acquiring
the Specified Assets; (ii) the proceeds of such Indebtedness secured by such Lien shall be
used to make or refinance acquisitions and/or for capital expenditures, in each case made
after the Issue Date; (iii) such Lien shall secure the assets acquired, replaced or
constructed in connection with the incurrence of such Indebtedness by the Company or a
Guarantor acquiring the Specified Assets; and (iv) no Default or Event of Default shall have
occurred or be continuing at the time of the incurrence of such Indebtedness secured by such
Lien;

     (19) Liens securing the Notes or Subsidiary Guarantees; and

20

 

     (20) Liens to secure Indebtedness having an aggregate principal amount which, when
added together with all other Indebtedness secured by Liens incurred pursuant to this clause
(20) and then outstanding, does not exceed $20.0 million.

     “Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its
Restricted Subsidiaries incurred or any Disqualified Stock of the Company of its Restricted
Subsidiaries issued (a) in exchange for, or the net proceeds of which are used to extend, renew,
refund, refinance, replace, defease, discharge or otherwise retire for value, in whole or in part,
or (b) constituting an amendment, modification or supplement to or a deferral or renewal of ((a)
and (b) above, collectively, a “Refinancing”), any other Indebtedness or preferred stock of the
Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness), in a
principal amount or, in the case of Disqualified Stock, liquidation preference, not to exceed
(after deduction of reasonable and customary fees and expenses incurred in connection with the
Refinancing) the lesser of:

     (1) the principal amount or, in the case of preferred stock, liquidation preference, of
the Indebtedness, or preferred stock so Refinanced (plus, in the case of Indebtedness, the
amount of premium, if any, paid in connection therewith), and

     (2) if the Indebtedness being Refinanced was issued with any original issue discount,
the accreted value of such Indebtedness (as determined in accordance with GAAP) at the time
of such Refinancing.

     Notwithstanding the preceding, no Indebtedness or Disqualified Stock will be deemed to be
Permitted Refinancing Indebtedness, unless:

     (1) such Indebtedness or Disqualified Stock has (a) a final maturity date or
redemption date, as applicable, no earlier than the final maturity date or redemption date,
as applicable, of, and has a Weighted Average Life to Maturity equal to or greater than the
Weighted Average Life to Maturity of the Indebtedness or preferred stock being Refinanced or
(b) a final maturity date or redemption date, as applicable, more than 90 days after the
principal maturity date of the Notes;

     (2) if the Indebtedness being Refinanced is Subordinated Indebtedness, such
Indebtedness has a final maturity date or redemption date, as applicable, later than the
final maturity date or redemption date, as applicable, of, and is contractually subordinated
in right of payment to, the Notes or the Subsidiary Guarantees, as the case may be, on terms
at least as favorable, taken as a whole, to the Holders of Notes as those contained in the
documentation governing the Subordinated Indebtedness being Refinanced at the time of the
Refinancing; and

     (3) such Indebtedness or Disqualified Stock is incurred or issued by the Company or
such Indebtedness or Disqualified Stock is incurred or issued by the Restricted Subsidiary
who is the primary obligor on the Indebtedness being Refinanced or the issuer of the
preferred stock being Refinanced.

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

     “Principal Business” means:

     (1) the business of the exploration for, and development, acquisition, production,
processing, marketing, refining, storage and transportation of, hydrocarbons.

21

 

     (2) any related energy and natural resource business;

     (3) any business currently engaged in by the Company or its Subsidiaries; and

     (4) any activity or business that is a reasonable extension, development or expansion
of any of the activities or businesses described in clauses (1) through (3) of this
definition or that is ancillary or necessary or desirable to facilitate such activities or
businesses.

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be
placed on all Notes issued under this Indenture except where otherwise permitted by the provisions
of this Indenture.

     “Purchase Money Indebtedness” means Indebtedness incurred for the purpose of (1) financing all
or any part of the purchase price of any real or personal property or assets incurred prior to, at
the time of, or within 120 days after, the acquisition of such property or assets or (2) financing
all or any part of the cost of construction of, or repairs, improvements or additions to, any such
property or assets, provided that the amount of any such financing shall not exceed the amount
expended in the acquisition of, or the construction of, or repairs, improvements or additions to,
such property or assets.

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

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of June 10,
2009, among the Company, the Guarantors and the other parties named on the signature pages thereof,
as such agreement may be amended, modified or supplemented from time to time and, with respect to
any Additional Notes, one or more registration rights agreements among the Company, the Guarantors
and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from
time to time, relating to rights given by the Company to the purchasers of Additional Notes to
register such Additional Notes under the Securities Act.

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

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

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any other
officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject.

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

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

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

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

22

 

     “Restricted Subsidiary” of a Person means any Subsidiary of such Person that is not an
Unrestricted Subsidiary.

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

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

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

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

     “SEC” means the Securities and Exchange Commission.

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

     “S&P” means Standard & Poor’s Ratings Services or any successor to the rating agency business
thereof.

     “Senior Indebtedness” means with respect to any Person, Indebtedness of such Person, unless
the instrument creating or evidencing such Indebtedness provides that such Indebtedness is
subordinate in right of payment to the Notes or the Subsidiary Guarantee of such Person, as the
case may be.

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

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

     “Special Interest” has the meaning assigned to that term pursuant to the Registration Rights
Agreement.

     “Specified Assets” means the refinery and related assets purchased by Holly Refining &
Marketing—Tulsa LLC, as buyer (formerly named Holly Refining & Marketing—MidCon, L.L.C.), from
Sunoco, Inc. (R&M), as seller, pursuant to the Asset Sale and Purchase Agreement, dated April 15,
2009, between those parties.

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

     “Subordinated Indebtedness” means Indebtedness of the Company or a Guarantor that is
contractually subordinated in right of payment to the Notes or the Subsidiary Guarantee of such
Guarantor, as applicable.

     “Subsidiary” means, with respect to any Person, (1) any corporation, association or other
business entity of which more than 50% of the Voting Stock thereof is at the time owned or
controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that
Person (or a combination thereof); (2) any partnership (a) the sole general partner or the managing
general partner of

23

 

which is such Person or a Subsidiary of such Person or (b) the only general partners of which
are such Person or of one or more Subsidiaries of such Person (or any combination thereof); and (3)
notwithstanding the foregoing clauses (1) and (2), with respect to the Company, HEP shall only be
considered a Subsidiary of the Company and any of its other Subsidiaries for so long as the most
recently available quarterly financial results of HEP and its Subsidiaries are consolidated with
the Company’s financial results.

     “Subsidiary Guarantee” means a guarantee, included in this Indenture, of the Company’s
obligations under the Notes and this Indenture.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called
synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession
of property creating obligations that do not appear on the balance sheet of such Person but which,
upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of
such Person (without regard to accounting treatment).

     “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

     “Treasury Rate” means the yield to maturity at the time of the computation of United States
Treasury securities with a constant maturity (as compiled by and published in the most recent
Federal Reserve Statistical Release H.15(519), which has become publicly available at least two
business days prior to the date of the redemption notice or, if such Statistical Release is no
longer published, any publicly available source of similar market date) most nearly equal to the
then remaining maturity of the notes assuming redemption of the Notes on June 15, 2013; provided,
however, that if the Make-Whole Average Life of such Note is not equal to the constant maturity of
the United States Treasury security for which a weekly average yield is given, the Treasury Rate
shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from
the weekly average yields of United States Treasury securities for which such yields are given,
except that if the Make-Whole Average Life of such Notes is less than one year, the weekly average
yield on actually traded United States Treasury securities adjusted to a constant maturity of one
year shall be used.

     “Trustee” means U.S. Bank Trust National Association until a successor replaces it in
accordance with the applicable provisions of this Indenture and thereafter means the successor
serving hereunder.

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

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

     “Unrestricted Subsidiary” means (i) HEP and its Subsidiaries, but only at such time as the
most recently available quarterly financial results of HEP and its Subsidiaries are consolidated
with the Company’s financial results, and (ii) any Subsidiary that is designated by the Board of
Directors as an Unrestricted Subsidiary pursuant to a Board Resolution, but only to the extent that
such Subsidiary at the time of such designation:

     (1) has no Indebtedness other than Non-Recourse Debt;

     (2) is not party to any agreement, contract, arrangement or understanding with the
Company or any Restricted Subsidiary of the Company unless such agreement, contract,

24

 

arrangement or understanding does not violate the terms of this Indenture described
under Section 4.11 hereof;

     (3) is a Person with respect to which neither the Company nor any of its Restricted
Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity
Interests or (b) to maintain or preserve such Person’s financial condition or to cause such
Person to achieve any specified levels of operating results, in each case, except to the
extent otherwise permitted by this Indenture; and

     (4) has not guaranteed or otherwise directly or indirectly provided credit support for
any Indebtedness of the Company or any of its Restricted Subsidiaries.

     Any such designation by the Board of Directors shall be evidenced to the Trustee by filing
with the Trustee a certified copy of the resolution of the Board of Directors giving effect to such
designation and an Officers’ Certificate certifying that such designation complied with the
preceding conditions and was permitted by the provisions described under Section 4.07 hereof. If,
at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an
Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of
this Indenture and any Indebtedness of such Subsidiary shall be deemed to be incurred by a
Restricted Subsidiary of the Company as of such date (and, if such Indebtedness is not permitted to
be incurred as of such date pursuant to Section 4.09 hereof, the Company shall be in default of
such covenant).

     The Board of Directors may at any time designate any Unrestricted Subsidiary to be a
Restricted Subsidiary, provided that such designation shall be deemed to be an incurrence of
Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such
Unrestricted Subsidiary and such designation shall only be permitted if (1) such Indebtedness is
permitted by the provisions described under Section 4.09 hereof, calculated on a pro forma basis as
if such designation had occurred at the beginning of the four-quarter reference period, and (2) no
Default or Event of Default would be in existence following such designation.

     “U.S. Government” means the federal government of the United States or any agency or
instrumentality thereof, the obligations of which are backed by the full faith and credit of the
United States.

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

     “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person
that is at the time entitled (without regard to the occurrence of any contingency and after giving
effect to any voting agreement or stockholders’ agreement that effectively transfers voting power)
to vote in the election of the directors, managers or trustees of such Person.

     “Weighted Average Life to Maturity” means, when applied to any security or instrument at any
date, the number of years obtained by dividing (1) the sum of the products obtained by multiplying
(a) the amount of each then remaining installment, sinking fund, serial maturity or other required
payments of principal (or redemption payments), including payment at final maturity (or mandatory
redemption), in respect of such security to instrument, by (b) the number of years (calculated to
the nearest one twelfth) that will elapse between such date and the making of such payment, by (2)
the then outstanding principal amount or liquidation preference of such security or instrument.

25

 

Section 1.02 Other Definitions.

	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	“Affiliate Transaction”
	 	 	4.11	 
	“Asset Sale Offer”
	 	 	3.09	 
	“Authentication Order”
	 	 	2.02	 
	“Cash Consideration”
	 	 	4.10	 
	“Change of Control Offer”
	 	 	4.15	 
	“Change of Control Payment”
	 	 	4.15	 
	“Change of Control Payment Date”
	 	 	4.15	 
	“Covenant Defeasance”
	 	 	8.03	 
	“DTC”
	 	 	2.03	 
	“Event of Default”
	 	 	6.01	 
	“Excess Proceeds”
	 	 	4.10	 
	“incur” or “incurrence”
	 	 	4.09	 
	“Legal Defeasance”
	 	 	8.02	 
	“Offer Amount”
	 	 	3.09	 
	“Offer Period”
	 	 	3.09	 
	“Paying Agent”
	 	 	2.03	 
	“Payment Default”
	 	 	6.01	 
	“Purchase Date”
	 	 	3.09	 
	“Registrar”
	 	 	2.03	 
	“Reinstatement Date”
	 	 	4.19	 
	“Restricted Payments”
	 	 	4.07	 
	“Suspended Covenants”
	 	 	4.19	 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security Holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

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

     “obligor” on the Notes and the Subsidiary Guarantees means the Company and the Guarantors,
respectively, and any successor obligor upon the Notes and the Subsidiary Guarantees, respectively.

     All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

26

 

Section 1.04 Rules of Construction.

     Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the singular;

     (5) “will” shall be interpreted to express a command;

     (6) provisions apply to successive events and transactions; and

     (7) references to sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules adopted by the SEC from time
to time.

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating.

     (a) General. The Notes and the Trustee’s certificate of authentication will be substantially
in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by
law, stock exchange rule or usage. Each Note will be dated the date of its authentication. The
Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

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

     (b) Global Notes. Notes issued in global form will be substantially in the form of Exhibit A
hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the
Global Note” attached thereto). Notes issued in definitive form will be substantially in the form
of Exhibit A hereto (but without the Global Note Legend thereon and without the “Schedule of
Exchanges of Interests in the Global Note” attached thereto). Upon the authentication of an
Unrestricted Global Note pursuant to Section 2.06(b)(4) hereof, interests in a Restricted Global
Note shall be deemed to have been transferred to interests in the Unrestricted Global Note, unless
otherwise instructed by the Company. Any Unrestricted Global Note will be substantially in the
form of Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges
of Interests in the Global Note” attached thereto, but without the Private Placement Legend
thereon). Each Global Note will represent such of the outstanding Notes as will be specified
therein and each shall provide that it represents the aggregate principal amount of outstanding
Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding
Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect
exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any

27

 

increase or decrease in the aggregate principal amount of outstanding Notes represented
thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in
accordance with instructions given by the Holder thereof as required by Section 2.06 hereof

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

     (d) Definitive Notes. Notwithstanding any contrary provision in this Indenture, without the
consent of the Company owners of beneficial interests in a Global Note may exchange such interests
for Definitive Notes only in the circumstances set forth in Section 2.06(a) hereof.

Section 2.02 Execution and Authentication.

     At least one Officer must sign the Notes for the Company by manual electronic image scan or
facsimile signature.

     If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated, the Note will nevertheless be valid.

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

     The Trustee will, upon receipt of a written order of the Company signed by one Officer (an
“Authentication Order”), authenticate Notes for original issue under this Indenture, in an
aggregate principal amount of $200,000,000 in the case of the Initial Notes and in an aggregate
principal amount stated in the applicable Authentication Order in relation to any Additional Notes.
The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate
principal amount of Notes authorized for issuance by the Company pursuant to one or more
Authentication Orders, except as provided in Section 2.07 hereof.

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

Section 2.03 Registrar and Paying Agent.

     The Company will maintain an office or agency where Notes may be presented for registration of
transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented for
payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer
and exchange. The Company may appoint one or more co-registrars and one or more additional paying
agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Company may change any Paying Agent or Registrar without notice to
any Holder. The Company will notify the Trustee in writing of the name and address of any Agent
not a party to this Indenture. If the Company fails to appoint or maintain another entity as
Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries
may act as Paying Agent or Registrar.

28

 

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

     The Company initially appoints the Trustee to act as the Registrar and Paying Agent (at its
offices indicated in the definition of Corporate Trust Office of the Trustee in Section 1.01
hereof) and to act as Custodian with respect to the Global Notes.

Section 2.04 Paying Agent to Hold Money in Trust.

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

Section 2.05 Holder Lists.

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

Section 2.06 Transfer and Exchange.

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

     (1) the Company delivers to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 120 days after the date of such notice from the Depositary;

     (2) subject to the Depositary’s rules, the Company in its sole discretion determines
that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes
and delivers a written notice to such effect to the Trustee; or

     (3) there has occurred and is continuing an Event of Default and the Depositary
notifies the Trustee of its decision to exchange Global Notes for Definitive Notes.

29

 

     Upon the occurrence of any of the preceding events in (1), (2) or (3) above, Definitive Notes
shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may
be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every
Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and
delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a), however, beneficial interests in a
Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Notes also will require compliance with either subparagraph (1) or (2)
below, as applicable, as well as one or more of the other following subparagraphs, as applicable:

     (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in
any Restricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend; provided, however, that
prior to the expiration of the Restricted Period, transfers of beneficial interests in the
Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a
U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted
Global Note may be transferred to Persons who take delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note. No written orders or instructions shall
be required to be delivered to the Registrar to effect the transfers described in this
Section 2.06(b)(1).

     (2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either:

     (A) both:

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

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

     (B) both:

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

30

 

     (ii) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be
registered to effect the transfer or exchange referred to in (1) above.

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof,
the requirements of this Section 2.06(b)(2) shall be deemed to have been satisfied upon receipt by
the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of
such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Notes contained in this
Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust
the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof.

     (3) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial
interest in any Restricted Global Note may be transferred to a Person who takes delivery
thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar
receives the following:

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

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

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

     (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any
Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in
an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer
complies with the requirements of Section 2.06(b)(2) above and:

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

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

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

31

 

     (D) the Registrar receives the following:

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

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

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

     If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an
Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal
amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above.

     Notwithstanding the provisions of the first sentence of this subparagraph (4), at the option
of the Company, beneficial interests in a Restricted Global Note shall automatically be exchanged
for beneficial interests in an Unrestricted Global Note upon compliance with the following
provisions. In order to effect such exchange, the Company shall comply in full with the
Depositary’s “Procedures for the Mandatory Exchange of Rule 144A Securities for Unrestricted
Securities” or “Procedures for the Mandatory Exchange of Regulation S Securities for Unrestricted
Securities,” as applicable (or such replacement procedures as the Depositary shall put in place).
Upon such exchange of beneficial interests pursuant to this Section 2.06(b)(4), the Registrar shall
reflect on its books and records the date of such transfer and a decrease and increase in the
principal amount of the applicable Restricted Global Note and the Unrestricted Global Note,
respectively, equal to the principal amount of beneficial interests transferred. Following any
such transfer pursuant to this Section 2.06(b)(4) of all of the beneficial interests in a
Restricted Global Note to an Unrestricted Global Note, such Restricted Global Note shall be
cancelled.

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

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

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

32

 

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

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

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

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

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

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

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

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall
authenticate and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names
and in such authorized denomination or denominations as the holder of such beneficial interest
shall instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose
names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private
Placement Legend and shall be subject to all restrictions on transfer contained therein.

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

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of such beneficial

33

 

interest, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the applicable Letter of Transmittal that it is not (i) a
Participating Broker-Dealer, (ii) a Person participating in the distribution of the
Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the
Company;

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

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

     (D) the Registrar receives the following:

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

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

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

     (3) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes.
If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange
such beneficial interest for a Definitive Note or to transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction
of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the
aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant
to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate
and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(3) will be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest
requests through instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the
Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange
for a beneficial interest pursuant to this Section 2.06(c)(3) will not bear the Private
Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

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

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

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

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

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

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

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

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

the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased
the aggregate principal amount of, in the case of clause (A) above, the appropriate
Restricted Global Note, in the case of clause (B) above, the 144A Global Note, in the case
of clause (C) above, the Regulation S Global Note, and in all other cases, the IAI Global
Note.

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

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (i) a Participating Broker-Dealer, (ii) a
Person participating in

35

 

the distribution of the Exchange Notes or (iii) a Person who is an affiliate
(as defined in Rule 144) of the Company;

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

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

     (D) the Registrar receives the following:

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

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

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

     Upon satisfaction of the conditions of any of the subparagraphs in this Section
2.06(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be
increased the aggregate principal amount of the Unrestricted Global Note.

     (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.
A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial
interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will
cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Notes.

     If any such exchange or transfer from a Definitive Note to a beneficial interest is
effected pursuant to subparagraphs (2)(B), (2)(D) or (3) above at a time when an
Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt
of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of Definitive Notes so transferred.

     (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder
of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the
Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration
of transfer

36

 

or exchange, the requesting Holder must present or surrender to the Registrar the Definitive
Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the
Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In
addition, the requesting Holder must provide any additional certifications, documents and
information, as applicable, required pursuant to the following provisions of this Section 2.06(e).

     (1) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

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

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

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

     (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted
Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note
or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:

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

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

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

     (D) the Registrar receives the following:

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

     (ii) if the Holder of such Restricted Definitive Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form
of an

37

 

Unrestricted Definitive Note, a certificate from such Holder in the
form of Exhibit B hereto, including the certifications in item (4) thereof;

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

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

     (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Company will issue and, upon receipt of an Authentication Order
in accordance with Section 2.02 hereof, the Trustee will authenticate:

     (1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the
principal amount of the beneficial interests in the Restricted Global Notes accepted for
exchange in the Exchange Offer by Persons that certify in the applicable Letters of
Transmittal that (A) they are not Participating Broker-Dealers, (B) they are not
participating in a distribution of the Exchange Notes and (C) they are not affiliates (as
defined in Rule 144) of the Company; and

     (2) Unrestricted Definitive Notes in an aggregate principal amount equal to the
principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange
Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not
Participating Broker-Dealers, (B) they are not participating in a distribution of the
Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company.

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

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

     (1) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Global Note and each
Definitive Note (and all Notes issued in exchange therefor or substitution thereof)
shall bear the legend in substantially the following form:

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY
NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR

38

 

OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS EXEMPT FROM,
OR NOT SUBJECT TO, SUCH REGISTRATION.

THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF
ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER
SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR (IN
THE CASE OF RULE 144A SECURITIES) AFTER THE LATER OF THE ISSUE DATE HEREOF AND THE LAST DATE ON
WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) OR 40 DAYS (IN THE CASE OF REGULATION S SECURITIES), ONLY (A) TO THE ISSUER, (B)
PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C)
FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL
ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH
ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S
RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D), (E) OR (F) TO REQUIRE THE
DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF
THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER OR THE ISSUER ON OR AFTER THE
RESALE RESTRICTION TERMINATION DATE.”

     (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued
pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2), (e)(3) or
(f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution
thereof) will not bear the Private Placement Legend.

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

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR
ITS CUSTODIAN FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4)

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THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (3) Original Issue Discount Legend. Each Note will bear a legend in substantially the
following form:

“FOR THE PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED,
THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT; FOR EACH $1,000 PRINCIPAL AMOUNT OF
THIS SECURITY, THE ISSUE PRICE IS $941.05, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS $58.95, THE
ISSUE DATE IS JUNE 10, 2009 AND THE YIELD TO MATURITY IS 11.000% PER ANNUM.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be
returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any
time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the
Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note, such other Global Note will be
increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

     (i) General Provisions Relating to Transfers and Exchanges.

     (1) To permit registrations of transfers and exchanges, the Company will execute and
the Trustee will authenticate Global Notes and Definitive Notes upon receipt of the
Company’s written order or at the Registrar’s request.

     (2) No service charge will be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or

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similar governmental charge payable upon exchange or transfer pursuant to Sections
2.10, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof).

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

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

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

     (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any mailing or
notice of redemption under Section 3.03 hereof and ending at the close of business
on the day of such mailing;

     (B) to register the transfer of or to exchange any Note selected for redemption
in whole or in part, except the unredeemed portion of any Note being redeemed in
part; or

     (C) to register the transfer of or to exchange a Note between a record date and
the next succeeding interest payment date.

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

     (7) The Trustee will authenticate Global Notes and Definitive Notes upon receipt of a
written order of the Company signed by one of its Officers and in accordance with the
provisions of Section 2.02 hereof to the extent applicable.

     (8) All certifications, certificates and Opinions of Counsel required to be submitted
to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or
exchange may be submitted by electronic image scan or facsimile.

Section 2.07 Replacement Notes.

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

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

Section 2.08 Outstanding Notes.

     The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions hereof, and those described
in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does
not cease to be outstanding because the Company or an Affiliate of the Company holds the Note;
however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be
outstanding for purposes of Section 3.07(a) hereof.

     If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser.

     If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to
be outstanding and interest on it ceases to accrue.

     If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, by 10:00 a.m. Eastern Time on a redemption date or other maturity date, money sufficient to
pay Notes payable on that date, then on and after that date such Notes will be deemed to be no
longer outstanding and will cease to accrue interest.

Section 2.09 Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by the Company or any Guarantor, or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or any Guarantor, will be considered as though not outstanding, except that for the
purposes of determining whether the Trustee will be protected in relying on any such direction,
waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded.

Section 2.10 Temporary Notes.

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

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

Section 2.11 Cancellation.

     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent will forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else will cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled
Notes (subject to the record retention requirement of the Exchange Act). Certification of the
destruction of all canceled Notes

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will be delivered to the Company. The Company may not issue new Notes to replace Notes that
it has paid or that have been delivered to the Trustee for cancellation.

Section 2.12 Defaulted Interest.

     If the Company defaults in a payment of interest on the Notes, it will pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the
proposed payment. The Company will fix or cause to be fixed each such special record date and
payment date; provided that no such special record date may be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the special record date,
the Company (or, upon the written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders a notice that states the special
record date, the related payment date and the amount of such interest to be paid.

ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01 Notices to Trustee.

     If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it must furnish to the Trustee, at least five Business Days prior to the
giving of notice of redemption pursuant to Section 3.03 hereof, an Officers’ Certificate setting
forth:

     (1) the clause of this Indenture pursuant to which the redemption shall occur;

     (2) the redemption date;

     (3) the principal amount of Notes to be redeemed; and

     (4) the redemption price (if then determined and otherwise the method of
determination).

Section 3.02 Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes
for redemption as follows:

     (1) if the Notes are listed on any national securities exchange, in compliance with the
requirements of the principal national securities exchange on which the Notes are listed; or

     (2) if the Notes are not listed on any national securities exchange, on a pro rata
basis or on as nearly a pro rata basis as is practicable, subject to the procedures of DTC,
unless such method is otherwise prohibited.

     In the event of partial redemption, the particular Notes to be redeemed will be selected,
unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption or
purchase date by the Trustee from the outstanding Notes not previously called for redemption or
purchase.

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     The Trustee will promptly notify the Company in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be
redeemed. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of
$1,000 in excess thereof; except that if all of the Notes of a Holder are to be redeemed, the
entire outstanding amount of Notes held by such Holder shall be redeemed. Except as provided in
the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also
apply to portions of Notes called for redemption. No Notes of $2,000 or less will be redeemed or
purchased in part.

Section 3.03 Notice of Redemption.

     At least 30 days but not more than 60 days before a redemption date, the Company will mail or
cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to
be redeemed at its registered address, except that redemption notices may be mailed more than 60
days prior to a redemption date if the notice is issued in connection with a defeasance of the
Notes or a satisfaction and discharge of this Indenture pursuant to Article 8 or 11 hereof.

     The notice will identify the Notes to be redeemed and will state:

     (1) the redemption date;

     (2) the redemption price (if then determined and otherwise the method of
determination);

     (3) if any Note is being redeemed in part, the portion of the principal amount of such
Note to be redeemed and that, after the redemption date upon surrender of such Note, a new
Note or Notes in principal amount equal to the unredeemed portion will be issued in the name
of the Holder thereof upon cancellation of the original Note;

     (4) the name and address of the Paying Agent;

     (5) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price;

     (6) that, unless the Company defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the redemption date;

     (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which the
Notes called for redemption are being redeemed; and

     (8) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Notes.

     At the Company’s request, the Trustee will give the notice of redemption in the Company’s name
and at its expense; provided, however, that the Officers’ Certificate delivered to the Trustee
pursuant to Section 3.01 hereof requests that the Trustee give such notice and sets forth the
information to be stated in such notice as provided in the preceding paragraph.

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Section 3.04 Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price. A
notice of redemption may not be conditional.

Section 3.05 Deposit of Redemption or Purchase Price.

     No later than 10:00 a.m. Eastern Time on the redemption or purchase date, the Company will
deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or
purchase price of and accrued interest and Special Interest, if any, on all Notes to be redeemed or
purchased on that date. The Trustee or the Paying Agent will promptly return to the Company any
money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts
necessary to pay the redemption or purchase price of, and accrued interest on, all Notes to be
redeemed or purchased.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If a Note is redeemed or purchased on or after an interest
record date but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Note was registered at the close of
business on such record date. If any Note called for redemption or purchase is not so paid upon
surrender for redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or
purchase date until such principal is paid, and to the extent lawful on any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.

Section 3.06 Notes Redeemed or Purchased in Part.

     Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and,
upon receipt of an Authentication Order, the Trustee will authenticate for the Holder at the
expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased
portion of the Note surrendered.

Section 3.07 Optional Redemption.

     (a) At any time prior to June 15, 2012, the Company may on any one or more occasions redeem up
to 35% of the aggregate principal amount of Notes originally issued under this Indenture at a
redemption price of 109.875% of the principal amount thereof, plus accrued and unpaid interest and
Special Interest, if any, to the redemption date (subject to the rights of Holders on the relevant
record date to receive interest on an interest payment date that is on or prior to the redemption
date), with the net cash proceeds of one or more Equity Offerings, provided that:

     (1) at least 65% of the aggregate principal amount of Notes originally issued under
this Indenture remains outstanding immediately after the occurrence of such redemption
(excluding Notes held by the Company or its Affiliates); and

     (2) the redemption occurs within 120 days of the date of the closing of each such
Equity Offering.

     (b) Except pursuant to paragraphs (a), (d) and (e) of this Section 3.07, the Notes will not be
redeemable at the Company’s option prior to June 15, 2013.

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     (c) On or after June 15, 2013, the Company may on any one or more occasions redeem the Notes,
in whole or in part, at the redemption prices (expressed as percentages of principal amount) set
forth below plus accrued and unpaid interest and Special Interest, if any, on the Notes redeemed to
the applicable redemption date, if redeemed during the twelve-month period beginning on June 15 of
the years indicated below, subject to the rights of Holders on the relevant record date to receive
interest on an interest payment date that is on or prior to the redemption date:

	 	 	 	 	 
	Year	 	Percentage
	2013
	 	 	104.9375	%
	2014
	 	 	102.4688	%
	2015 and thereafter
	 	 	100.0000	%

     Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption date.

     (d) The Company may redeem all (but not a portion of) the Notes when permitted by, and
pursuant to the conditions in, Section 4.15(c) of this Indenture.

     (e) At any time prior to June 15, 2013, the Company may on one or more occasions redeem the
Notes, in whole or in part, at the Make-Whole Price, plus accrued and unpaid interest and Special
Interest, if any, to the applicable date of redemption (subject to the rights of Holders on the
relevant record date to receive interest due on an interest payment date that is on or prior to the
redemption date).

     (f) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof.

Section 3.08 Mandatory Redemption.

     The Company is not required to make mandatory redemption or sinking fund payments with respect
to the Notes.

Section 3.09 Offer to Purchase by Application of Excess Proceeds.

     In the event that, pursuant to Section 4.10 hereof, the Company is required to commence an
offer to all Holders to purchase Notes (an “Asset Sale Offer”), it will follow the procedures
specified below.

     The Asset Sale Offer shall be made to all Holders and all holders of Pari Passu Indebtedness
containing provisions similar to those set forth in this Indenture with respect to offers to
purchase or redeem with the proceeds of sales of assets. The Asset Sale Offer will remain open for
a period of at least 20 Business Days following its commencement and not more than 30 Business
Days, except to the extent that a longer period is required by applicable law (the “Offer Period”).
No later than three Business Days after the termination of the Offer Period (the “Purchase Date”),
the Company will apply all Excess Proceeds (the “Offer Amount") to the purchase of Notes and such
Pari Passu Indebtedness (on a pro rata basis, if applicable) or, if less than the Offer Amount has
been tendered, all Notes and other Pari Passu Indebtedness tendered in response to the Asset Sale
Offer. Payment for any Notes so purchased will be made in the same manner as interest payments are
made.

     If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest and Special Interest, if any, will be paid
to the Person in whose name a Note is registered at the close of business on such record date, and
no additional interest will be payable to Holders who tender Notes pursuant to the Asset Sale
Offer.

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     Upon the commencement of an Asset Sale Offer, the Company will send, by first class mail, a
notice to the Trustee and each of the Holders. The notice will contain all instructions and
materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The
notice, which will govern the terms of the Asset Sale Offer, will state:

     (1) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section
4.10 hereof and the length of time the Asset Sale Offer will remain open;

     (2) the Offer Amount, the purchase price and the Purchase Date;

     (3) that any Note not tendered or accepted for payment will continue to accrue
interest;

     (4) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer will cease to accrue interest after the Purchase
Date;

     (5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
elect to have Notes purchased in denominations of $2,000 or an integral multiple of $1,000
in excess thereof;

     (6) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will
be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Company, a Depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice at least three days before the Purchase Date;

     (7) that Holders will be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration
of the Offer Period, a telegram, telex, electronic image scan, facsimile transmission or
letter setting forth the name of the Holder, the principal amount of the Note the Holder
delivered for purchase and a statement that such Holder is withdrawing his election to have
such Note purchased;

     (8) that, if the aggregate principal amount of Notes and other Pari Passu Indebtedness
surrendered by holders thereof exceeds the Offer Amount, the Trustee will select the Notes
and other Pari Passu Indebtedness to be purchased on a pro rata basis based on the principal
amount of Notes and such other Pari Passu Indebtedness surrendered (with such adjustments as
may be deemed appropriate by the Company so that only Notes in denominations of $2,000, or
an integral multiple of $1,000 in excess thereof, will be purchased); and

     (9) that Holders whose Notes were purchased only in part will be issued new Notes equal
in principal amount to the unpurchased portion of the Notes surrendered (or transferred by
book-entry transfer).

     On or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on
a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered
pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes
tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating that such Notes or portions thereof were accepted
for payment by the Company in accordance with the terms of this Section 3.09. The Company, the
Depositary or the Paying Agent, as the case may be, will promptly (but in any case not later than
five days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to the
purchase price of the Notes tendered by such

47

 

Holder and accepted by the Company for purchase, and the Company will promptly issue a new
Note, and the Trustee, upon written request from the Company, will authenticate and mail or deliver
(or cause to be transferred by book entry) such new Note to such Holder, in a principal amount
equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be
promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly
announce the results of the Asset Sale Offer on the Purchase Date.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Notes.

     The Company will pay or cause to be paid the principal of, premium on, if any, interest and
Special Interest, if any, on, the Notes on the dates and in the manner provided in the Notes.
Principal, premium, if any, and interest and Special Interest, if any will be considered paid on
the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available
funds and designated for and sufficient to pay all principal, premium, if any, and interest, if
any, then due. The Company will pay all Special Interest, if any, in the same manner on the dates
and in the amounts set forth in the applicable Registration Rights Agreement.

     The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at a rate that is 1.00% higher than the then applicable
interest rate on the Notes to the extent lawful; it will pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and
Special Interest, if any (without regard to any applicable grace period) at the same rate to the
extent lawful.

Section 4.02 Maintenance of Office or Agency.

     The Company will maintain in the Borough of Manhattan, the City of New York, an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or
co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where
notices and demands to or upon the Company in respect of the Notes and this Indenture may be
served. The Company will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company fails to maintain any such
required office or agency or fails to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office
of the Trustee.

     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations; provided, however, that no such designation or rescission will in any
manner relieve the Company of its obligation to maintain an office or agency in the Borough of
Manhattan, the City of New York for such purposes. The Company will give prompt written notice to
the Trustee of any such designation or rescission and of any change in the location of any such
other office or agency.

Section 4.03 Reports.

     (a) Whether or not required by the SEC’s rules and regulations, so long as any Notes are
outstanding, the Company will furnish to the Holders of Notes or cause the Trustee to furnish to
the Holders of Notes (or file with the SEC for public availability), within the time periods
specified in the SEC’s rules and regulations:

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     (1) all quarterly and annual reports that would be required to be filed with the SEC on
Forms 10-Q and 10-K if the Company were required to file such reports; and

     (2) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file such reports.

     All such reports will be prepared in all material respects in accordance with all of the rules
and regulations applicable to such reports. Each annual report on Form 10-K will include a report
on the Company’s consolidated financial statements by the Company’s certified independent
accountants. In addition, the Company will file a copy of each of the reports referred to in
clauses (1) and (2) above with the SEC for public availability within the time periods specified in
the rules and regulations applicable to such reports (unless the SEC will not accept such a filing)
and will post the reports on its website within those time periods.

     If, at any time, the Company is no longer subject to the periodic reporting requirements of
the Exchange Act for any reason, the Company will nevertheless continue filing the reports
specified in the preceding paragraphs with the SEC within the time periods specified above unless
the SEC will not accept such a filing. The Company agrees that it will not take any action for the
purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the
SEC will not accept the Company’s filings for any reason, the Company will post the reports
referred to in the preceding paragraph on its website within the time periods that would apply if
the Company were required to file those reports with the SEC.

     (b) The Company and the Guarantors agree that, for so long as any Notes remain outstanding, at
any time they are not required to file the reports required by paragraph (a) of this Section 4.03
with the SEC, the Company and the Guarantors will furnish to the Holders and to securities analysts
and prospective investors, upon their request, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act.

Section 4.04 Compliance Certificate.

     (a) The Company and each Guarantor (to the extent that such Guarantor is so required under the
TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’
Certificate stating that a review of the activities of the Company and its Subsidiaries during the
preceding fiscal year has been made under the supervision of the signing Officers with a view to
determining whether the Company has kept, observed, performed and fulfilled its obligations under
this Indenture, and further stating, as to each such Officer signing such certificate, that to the
best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every
covenant contained in this Indenture and is not in default in the performance or observance of any
of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default has
occurred, describing all such Defaults or Events of Default of which he or she may have knowledge
and what action the Company is taking or proposes to take with respect thereto).

     (b) So long as any of the Notes are outstanding, the Company will deliver to the Trustee,
forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’
Certificate specifying such Default or Event of Default and what action the Company is taking or
proposes to take with respect thereto.

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Section 4.05 Taxes.

     The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency,
all material taxes, assessments, and governmental levies except such as are contested in good faith
and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders of the Notes.

Section 4.06 Stay, Extension and Usury Laws.

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

Section 4.07 Restricted Payments.

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

     (1) declare or pay any dividend or make any other payment or distribution on account of
the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including any such
payment in connection with any merger or consolidation involving the Company or any of its
Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its
Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or
distributions payable in Equity Interests (other than Disqualified Stock) of the Company and
other than dividends or distributions payable to the Company or a Restricted Subsidiary of
the Company);

     (2) purchase, redeem or otherwise acquire or retire for value (including in connection
with any merger or consolidation involving the Company) any Equity Interests of the Company
(other than any such Equity Interests owned by the Company or any Restricted Subsidiary of
the Company);

     (3) make any payment on or with respect to, or purchase, redeem, defease or otherwise
acquire or retire for value, any Subordinated Indebtedness (other than intercompany
Indebtedness between or among the Company and its Restricted Subsidiaries), except a payment
of interest or principal at Stated Maturity; or

     (4) make any Restricted Investment (all such payments and other actions set forth in
these clauses (1) through (4) above being collectively referred to as “Restricted
Payments”),

     unless, at the time of and after giving effect to such Restricted Payment:

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

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

     (3) such Restricted Payment, together with the aggregate amount of all other Restricted
Payments made by the Company and its Restricted Subsidiaries after the Issue Date is less
than the sum of the following amounts, without duplication:

     (A) 50% of the Consolidated Net Income of the Company for the period (taken as
one accounting period) from April 1, 2009 to the end of the Company’s most recently
ended fiscal quarter for which internal financial statements are available at the
time of such Restricted Payment (or, if such Consolidated Net Income for such period
is a deficit, less 100% of such deficit); plus

     (B) 100% of (x) the aggregate net cash proceeds and the fair market value of
any non-cash proceeds received by the Company since the Issue Date as a contribution
to its common equity capital or from the issue or sale of Equity Interests of the
Company (other than Disqualified Stock) or from the issue or sale of Disqualified
Stock or convertible or exchangeable debt securities of the Company that have been
converted into or exchanged for such Equity Interests (other than Equity Interests
(or Disqualified Stock or debt securities) sold to a Subsidiary of the Company), (y)
the amount by which Indebtedness of the Company or any Restricted Subsidiary is
reduced on the Company’s consolidated balance sheet upon the conversion or exchange
after the Issue Date of any such Indebtedness into or for Equity Interests of the
Company (other than Disqualified Stock), and (z) the aggregate net cash proceeds, if
any, received by the Company or any of its Restricted Subsidiaries upon any
conversion or exchange described in clause (x) or (y) above; plus

     (C) to the extent that any Restricted Investment that was made after the Issue
Date is sold for cash or Cash Equivalents, or otherwise is liquidated or repaid for
cash or Cash Equivalents, an amount equal to such cash or Cash Equivalents (less the
cost of disposition, if any); plus

     (D) the amount equal to the net reduction in Investments in Unrestricted
Subsidiaries after the Issue Date resulting from (A) payments of dividends,
distributions or interest or other transfers of assets to the Company or any
Restricted Subsidiary from Unrestricted Subsidiaries, (B) the redesignation of
Unrestricted Subsidiaries as Restricted Subsidiaries or (C) the receipt of proceeds
by the Company or any Restricted Subsidiary from the sale or other disposition of
any portion of any Investment in an Unrestricted Subsidiary.

     (b) The provisions of Section 4.07(a) hereof will not prohibit:

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

     (2) the making of any Restricted Payment in exchange for, or out of the net cash
proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company)
of,

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Equity Interests of the Company (other than Disqualified Stock) or from the
substantially concurrent contribution (other than by a Subsidiary of the Company) of capital
to the Company in respect of its Equity Interests (other than Disqualified Stock); provided
that the amount of any such net cash proceeds that are utilized for any such redemption,
repurchase, retirement, defeasance or other acquisition shall be excluded from clause (3)(B)
of Section 4.07(a) hereof;

     (3) the defeasance, redemption, repurchase, retirement or other acquisition of
Subordinated Indebtedness of the Company or any Guarantor (i) with the net cash proceeds
from an incurrence of, or in exchange for, Permitted Refinancing Indebtedness; or (ii) upon
a Change of Control or in connection with an Asset Sale to the extent required by the
agreement governing such Subordinated Indebtedness but only in instances where the Company
was required, as the result of such transaction, by the terms of this Indenture also to make
an offer pursuant to Section 4.10 or Section 4.15 hereof, as the case may be, and purchased
all Notes validly tendered pursuant to the relevant offer prior to acquiring such
Subordinated Indebtedness;

     (4) the payment of any dividend or distribution by a Restricted Subsidiary of the
Company to (A) the holders of its common Equity Interests on a pro rata basis or (B) the
Company or a Subsidiary of the Company;

     (5) so long as no Default or Event of Default shall have occurred and be continuing,
the repurchase, redemption or other acquisition or retirement for value of any Equity
Interests of the Company held by any future, present or former employee or director (or any
of their respective heirs or estates or permitted transferees) of the Company or any of the
Company’s Restricted Subsidiaries pursuant to any agreements (including employment
agreements) or management equity plan or stock option plan or any other management or
employee benefit plan or agreement (including any management equity subscription agreement,
stock option agreement or similar written arrangement) approved by the Board of Directors;
provided, that the aggregate Restricted Payments made under this clause (5) do not exceed
$5.0 million in any calendar year;

     (6) repurchases, redemptions or other acquisitions or retirements for value of Equity
Interests of the Company deemed to occur upon exercise or exchange of warrants, options or
rights to acquire Equity Interests if such Equity Interests represent a portion of the
exercise or exchange price of such warrants, options or rights, and any repurchases,
redemptions or other acquisitions or retirements for value of Equity Interests made in lieu
of withholding taxes in connection with any exercise or exchange of warrants, options or
rights to acquire Equity Interests;

     (7) payments or distributions to dissenting shareholders pursuant to applicable law in
connection with a merger, consolidation or transfer of assets that complies with the
provisions of Section 5.01 hereof;

     (8) cash payments in lieu of the issuance of fractional shares;

     (9) so long as no Default or Event of Default has occurred and is continuing, the
declaration and payment of regularly scheduled or accrued dividends to holders of any class
or series of Disqualified Stock of the Company or any Restricted Subsidiary of the Company,
or any class or series of preferred stock of a Restricted Subsidiary of the Company, in each
case issued after the Issue Date in accordance with the Consolidated Interest Coverage Ratio
test described in Section 4.09(a) hereof; and

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     (10) Restricted Payments, so long as (A) no Default or Event of Default has occurred
and is continuing, and (B) the aggregate amount of payments made under this clause (10) do
not exceed $40.0 million in any fiscal year of the Company.

     (c) In determining the aggregate amount of Restricted Payments made in accordance with Section
4.07(a)(3) above, amounts expended pursuant to clauses (2), (3), (4), (6), (7), (8) and (9) of
Section 4.07(b) shall be excluded from the calculation, and amounts expended pursuant to clauses
(1), (5) and (10) of Section 4.07(b) shall be included in the calculation.

     (d) In any fiscal year of the Company, no Restricted Payment may be made pursuant to Section
4.07(a) hereof unless and until $40.0 million of Restricted Payments have been made pursuant to
clause (10) of Section 4.07(b) hereof in such fiscal year.

     (e) The Board of Directors may designate any Restricted Subsidiary to be an Unrestricted
Subsidiary if such designation would not cause a Default and if such Restricted Subsidiary
otherwise meets the definition of an Unrestricted Subsidiary. For purposes of making such
determination, all outstanding Investments by the Company and its Restricted Subsidiaries (except
to the extent repaid in cash) in the Subsidiary so designated will be deemed to be Restricted
Payments at the time of such designation. All such outstanding Investments will be deemed to
constitute Investments in an amount equal to the greater of (1) the net book value of such
Investments at the time of such designation and (2) the fair market value of such Investments at
the time of such designation. Such designation will only be permitted if such Restricted Payment
would be permitted at such time.

     (f) The amount of all Restricted Payments (other than cash) shall be the fair market value on
the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or
issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted
Payment. The fair market value of any non-cash Restricted Payment shall be determined in the
manner contemplated by the definition of the term “fair market value.”

Section 4.08 Dividend and Other Payment Restrictions Affecting Subsidiaries.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to create or
otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction on
the ability of any Restricted Subsidiary of the Company to:

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

     (2) make loans or advances, or pay any Indebtedness owed, to the Company or any of its
Restricted Subsidiaries; or

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

     (b) The restrictions in Section 4.08(a) hereof will not apply to encumbrances or restrictions
existing under or by reason of:

     (1) agreements or instruments governing Existing Indebtedness or Capital Stock as in
effect on the Issue Date and any amendments, modifications, restatements, renewals,
increases, supplements, refundings, replacements or refinancings of those agreements or
instruments; provided that the amendments, modifications, restatements, renewals, increases,
supplements,

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refundings, replacements or refinancings are no more restrictive, taken as a whole,
with respect to such dividend and other payment restrictions than those contained in those
agreements or instruments on the Issue Date;

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

     (3) applicable law, rule, regulation or order;

     (4) any instrument governing Indebtedness or Capital Stock of a Person acquired by the
Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition
(except to the extent such Indebtedness was incurred in connection with or in contemplation
of such acquisition), which encumbrance or restriction is not applicable to any Person or
the properties or assets of any Person, other than the Person, or the property or assets of
the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness was
permitted by the terms of this Indenture to be incurred;

     (5) any encumbrance or restriction consisting of customary non-assignment provisions
(including provisions forbidding subletting) in leases governing leasehold interests to the
extent such provisions restrict the transfer of the lease, the property or assets leased
thereunder or the other interests therein;

     (6) purchase money obligations for property or assets acquired in the ordinary course
of business and Capital Lease Obligations that impose restrictions on the property or assets
purchased or leased of the nature described in clause (3) of Section 4.08(a) hereof;

     (7) customary provisions in bona fide contracts for the sale of property or assets;

     (8) any agreement for the sale or other disposition of a Subsidiary that restricts
distributions by that Subsidiary pending its sale or other disposition;

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

     (10) any encumbrance or restriction contained in the terms of any Indebtedness or
preferred stock, or any agreement pursuant to which such Indebtedness or preferred stock was
incurred or issued, if such encumbrance or restriction will not materially affect the
Company’s ability to make principal or interest payments on the Notes, as determined in good
faith by the Board of Directors, whose determination shall be conclusive;

     (11) any encumbrance or restriction under any Credit Facility of a Foreign Subsidiary
of the Company;

     (12) Permitted Refinancing Indebtedness, provided that the restrictions contained in
the agreements governing such Permitted Refinancing Indebtedness are not materially more
restrictive, taken as a whole, than those contained in the agreements governing the
Indebtedness or preferred stock being refinanced; and

     (13) secured Indebtedness that limits the right of the debtor to dispose of the assets
securing such Indebtedness and any related encumbrance or restriction contained in security
agreements, mortgages or purchase money agreements.

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Section 4.09 Incurrence of Indebtedness and Issuance of Disqualified Stock.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively, “incur” or an “incurrence”) any
Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and
will not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided,
however, that the Company or any Guarantor may incur Indebtedness (including Acquired Debt) or
issue Disqualified Stock if the Consolidated Interest Coverage Ratio for the Company’s most
recently ended four full fiscal quarters for which internal financial statements are available
immediately preceding the date on which such additional Indebtedness is incurred or such
Disqualified Stock is issued would have been at least 2.0 to 1.0, determined on a pro forma basis,
including a pro forma application of the net proceeds therefrom, as if the additional Indebtedness
or the Disqualified Stock had been incurred or issued at the beginning of such four-quarter period.

     (b) Notwithstanding the foregoing, the provisions of Section 4.09(a) hereof will not prohibit
the incurrence of any item of Permitted Indebtedness.

     (c) The Company will not incur, and will not permit any Guarantor to incur, any Indebtedness
(including Permitted Indebtedness) that is contractually subordinated in right of payment to any
other Indebtedness of the Company or such Guarantor, unless such Indebtedness is also contractually
subordinated in right of payment to the Notes and the applicable Subsidiary Guarantee on
substantially identical terms; provided, however, that solely for the avoidance of doubt and
without any other implication, no Indebtedness of the Company or any Guarantor will be deemed to be
contractually subordinated in right of payment to any other Indebtedness of such Person solely by
virtue of being unsecured or by virtue of being secured on a junior priority basis.

     (d) For purposes of determining compliance with this Section 4.09, in the event that an item
of proposed Indebtedness or Disqualified Stock meets the criteria of more than one of the
categories contained in clauses (1) through (14) of the definition of Permitted Indebtedness, or is
entitled to be incurred pursuant to Section 4.09(a) hereof, the Company will be permitted to
classify all or a portion of such item of Indebtedness or Disqualified Stock on the date of its
incurrence or issuance, or later reclassify all or a portion of such item of Indebtedness or
Disqualified Stock, in any manner that complies with this Section 4.09. Indebtedness under Credit
Facilities outstanding on the date on which Notes are first issued and authenticated under this
Indenture will initially be deemed to have been incurred on such date in reliance on the exception
provided by clause (1) of the definition of Permitted Indebtedness. The accrual of interest, the
accumulation of dividends, the accretion or amortization of original issue discount, the payment of
interest on any Indebtedness in the form of additional Indebtedness with the same terms and the
payment of dividends on Disqualified Stock in the form of additional shares of the same class of
Disqualified Stock, will not be deemed to be an incurrence of Indebtedness or an issuance of
Disqualified Stock for purposes of this Section 4.09; provided, in each such case, that the amount
thereof is included in Consolidated Interest Expense of the Company as accrued. Notwithstanding
any other provision of this Section 4.09, the maximum amount of Indebtedness that the Company or
any Restricted Subsidiary may incur pursuant to this Section 4.09 shall not be deemed to be
exceeded solely as a result of fluctuations in exchange rates or currency values.

     (e) The amount of any Indebtedness outstanding as of any date will be:

     (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with
original issue discount;

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     (2) in respect of Indebtedness of another Person secured by a Lien on the assets of the
specified Person, the lesser of:

     (A) the fair market value of such assets at the date of determination; and

     (B) the amount of the Indebtedness of the other Person; and

     (3) the principal amount of the Indebtedness, in the case of any other Indebtedness.

Section 4.10 Asset Sales.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an
Asset Sale (excluding an Event of Loss for this purpose) unless:

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

     (2) at least 75% of the consideration received by the Company or such Restricted
Subsidiary, as the case may be, from the Asset Sale and all other Asset Sales since the
Issue Date is in the form of (A) cash or Cash Equivalents, (B) properties and capital assets
to be used by the Company or any Restricted Subsidiary in the Principal Business, (C)
Capital Stock of a Person engaged in the Principal Business which becomes a Restricted
Subsidiary of the Company or (D) any combination thereof (collectively the “Cash
Consideration”);

provided, however, that the following are deemed to be cash for purposes of this provision: the
amount of (a) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most
recent balance sheet) of the Company or such Restricted Subsidiary (other than contingent
liabilities and liabilities that are by their terms subordinated to the Notes or any Subsidiary
Guarantee) that are assumed by the transferee of any such assets pursuant to (1) a customary
novation agreement that releases the Company or such Restricted Subsidiary from further liability
or (2) an assignment agreement that includes, in lieu of such a release, the agreement of the
transferee or its parent company to indemnify and hold harmless the Company or such Restricted
Subsidiary from and against any loss, liability or cost in respect of such assumed liability on
customary terms and (b) any non-Cash Consideration received by the Company or such Restricted
Subsidiary from such transferee that is converted by the Company or such Restricted Subsidiary into
cash within 180 days of the receipt thereof (but only to the extent of the cash received).

     Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Company or any
such Restricted Subsidiary may apply such an amount equal to those Net Proceeds, at its option, to:

     (1) prepay, repay, defease, redeem, purchase or otherwise retire any Senior
Indebtedness, and, if the Senior Indebtedness repaid is revolving credit Indebtedness, to
correspondingly reduce commitments with respect thereto;

     (2) make a capital expenditure; or

     (3) acquire assets used in the Principal Business or to acquire all or substantially
all of the assets of, or any Capital Stock of, another Person engaged in the Principal
Business.

     Notwithstanding the foregoing, if within 365 days after the receipt of any Net Proceeds from
an Asset Sale, the Company (or the applicable Restricted Subsidiary, as the case may be) enters
into a

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binding written agreement irrevocably committing the Company or such Restricted Subsidiary to
an application of funds of the kind described in clause (2) or (3) of the preceding paragraph, and
as to which the only condition to closing is the receipt of required governmental approvals, the
Company or such Restricted Subsidiary shall be deemed not to be in violation of the preceding
paragraph. Any Net Proceeds that are applied pursuant to clause (2) or (3) of the preceding
paragraph pursuant to any such binding agreement shall be deemed to have been applied for such
purpose within such 365-day period so long as they are so applied within two years after the date
of receipt of such Net Proceeds.

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

     An amount equal to any Net Proceeds from Asset Sales that are not applied or invested as
provided in the preceding paragraphs will constitute “Excess Proceeds.” When the aggregate amount
of Excess Proceeds exceeds $25.0 million, the Company shall make, in accordance with Section 3.09
hereof, an Asset Sale Offer to all Holders of the Notes and all holders of Pari Passu Indebtedness
containing provisions similar to those set forth in this Section 4.10 with respect to offers to
purchase or redeem with the proceeds of sales of assets, to purchase the maximum principal amount
of Notes and such Pari Passu Indebtedness that may be purchased out of the Excess Proceeds. The
offer price in any Asset Sale Offer will be equal to 100% of the principal amount of the
Indebtedness to be purchased plus accrued and unpaid interest to the date of purchase, subject to
the rights of Holders on the relevant record date to receive interest due on an interest payment
date that is on or prior to the date of purchase, and will be payable in cash, in accordance with
the procedures set forth in this Indenture, in the case of the Notes, or in the instruments
governing the terms of the Pari Passu Indebtedness, in the case of such Pari Passu Indebtedness;
provided, however, that, if the Company is required to apply such Excess Proceeds to repurchase, or
to offer to repurchase, any Pari Passu Indebtedness, the Company shall only be required to offer to
repurchase the maximum principal amount of Notes that may be purchased out of the amount of such
Excess Proceeds multiplied by a fraction, the numerator of which is the aggregate principal amount
of Notes outstanding and the denominator of which is the aggregate principal amount of Notes
outstanding plus the aggregate principal amount of such Pari Passu Indebtedness outstanding. To
the extent that the aggregate principal amount of Notes tendered pursuant to an Asset Sale Offer is
less than the amount that the Company is required to repurchase, the Company may use the difference
between such amounts for purposes not otherwise prohibited by this Indenture. If the aggregate
principal amount of Notes surrendered by holders thereof exceeds the amount that the Company is
required by this Section 4.10 to repurchase, the Trustee shall select the Notes to be purchased on
a pro rata basis. Upon completion of such Asset Sale Offer, the amount of Excess Proceeds shall be
reset at zero.

     Notwithstanding the foregoing, the sale, conveyance or other disposition of all or
substantially all of the properties or assets of the Company and its Subsidiaries, taken as a
whole, will be governed by the provisions of Section 4.15 hereof and/or the provisions of Section
5.01 hereof and not by the provisions of this Section 4.10.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations to the extent those laws and regulations are applicable in
connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the
provisions of any securities laws or regulations conflict with Section 3.09 or this Section 4.10,
or compliance with Section 3.09 or this Section 4.10 would constitute a violation of any such laws
or regulations, the Company will comply with the applicable securities laws and regulations and
will not be deemed to have breached its obligations under Section 3.09 or this Section 4.10 by
virtue of such compliance.

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Section 4.11 Transactions with Affiliates.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or
purchase any property or assets from, or enter into or make or amend any transaction, contract,
agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of
the Company (each of the foregoing, an “Affiliate Transaction”), unless:

     (1) such Affiliate Transaction is on terms that are no less favorable to the Company or
the relevant Restricted Subsidiary than those that would have been obtained in a comparable
transaction by the Company or such Restricted Subsidiary with an unrelated Person or, if
there is no such comparable transaction, on terms that are fair and reasonable to the
Company or such Restricted Subsidiary; and

     (2) the Company delivers to the Trustee:

     (A) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $25.0 million, a
resolution of the Board of Directors certifying that such Affiliate Transaction
complies with clause (1) of this Section 4.11(a) and that such Affiliate Transaction
has been approved by a majority of the disinterested members of the Board of
Directors; and

     (B) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $50.0 million, an
opinion as to the fairness to the Company or the relevant Subsidiary of such
Affiliate Transaction from a financial point of view issued by an accounting,
appraisal or investment banking firm that is, in the judgment of the Board of
Directors, qualified to render such opinion and is independent with respect to the
Company.

     (b) Notwithstanding Section 4.11(a) hereof, the following shall not be deemed to be Affiliate
Transactions:

     (1) reasonable fees and compensation paid to or for the benefit of any employee,
officer or director of the Company or any of its Restricted Subsidiaries, and any employment
agreement, employee benefit plan, officer or director indemnification agreement or any
similar arrangement entered into by the Company or any of its Subsidiaries existing on the
Issue Date, or entered into thereafter in the ordinary course of business, and any
indemnities or other transactions permitted or required by bylaw, statutory provisions or
any of the foregoing agreements, plans or arrangements;

     (2) transactions between or among the Company and its Restricted Subsidiaries;

     (3) transactions with a Person (other than an Unrestricted Subsidiary of the Company)
that is an Affiliate of the Company solely because the Company owns, directly or through a
Restricted Subsidiary, an Equity Interest in, or controls, such Person;

     (4) any Permitted Investments and any Restricted Payments that do not violate the
provisions of Section 4.07 hereof;

     (5) any issuance of Equity Interests (other than Disqualified Stock) of the Company to,
or receipt of any capital contribution from, any Affiliate of the Company;

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     (6) any contracts, agreements or understandings existing as of the Issue Date and any
amendment thereto or any transaction contemplated thereby (including pursuant to any
amendment thereto or any replacement agreement thereof so long as any such amendment or
replacement agreement is not more disadvantageous to the Holders of the Notes in any
material respect than the original agreement as in effect on the Issue Date);

     (7) loans or advances to employees in the ordinary course of business not to exceed
$1.0 million at any one time outstanding;

     (8) transactions with customers, clients, suppliers, joint venture partners or
purchasers or sellers of goods or services, in each case in the ordinary course of business
(including pursuant to joint venture agreements) on terms substantially similar to those
contained in similar contracts entered into by the Company or any Restricted Subsidiary and
third parties, or if neither the Company nor any Restricted Subsidiary has entered into a
similar contract with a third party, that the terms are no less favorable than those
available from third parties on an arm’s length basis, as determined by the Board of
Directors in its reasonable good faith judgment; and

     (9) in the case of any contract, agreement or understanding (or amendment thereto)
entered into with one or more Affiliates of the Company, whether or not in the ordinary
course of business, that is of a type with respect to which investment banking firms of
recognized industry standing generally do not render fairness opinions, if the Company
delivers to the Trustee a resolution of the Board of Directors set forth in an Officers’
Certificate certifying (i) that such Affiliate Transaction or series of related Affiliate
Transactions complies with clause (1) of Section 4.11(a) hereof and that such Affiliate
Transaction or series of related Affiliate Transactions has been approved by a majority of
the disinterested members of the Board of Directors and (ii) either (x) the Company has used
commercially reasonable efforts to obtain a fairness opinion with respect to such Affiliate
Transaction or series of related Affiliate Transactions from investment banking firms of
recognized industry standing and was unable to obtain a fairness opinion or (y) a majority
of the disinterested members of the Board of Directors has determined that investment
banking firms of recognized industry standing generally would not render fairness opinions
with respect to such transaction.

Section 4.12 Liens.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, create,
incur, assume or suffer to exist, any Lien (except Permitted Liens) on any asset owned on the Issue
Date or acquired after the Issue Date, securing:

     (1) any Indebtedness (including any Attributable Indebtedness) of the Company or such
Restricted Subsidiary (if it is not also a Guarantor), unless prior to, or contemporaneously
therewith, the Notes are equally and ratably secured; or

     (2) any Indebtedness (including any Attributable Indebtedness) of any Guarantor, unless
prior to, or contemporaneously therewith, the Subsidiary Guarantee of such Guarantor is
equally and ratably secured;

provided, however, that if such Indebtedness is expressly subordinated to the Notes or the
Subsidiary Guarantees, the Lien securing such Indebtedness will be subordinated and junior to the
Lien securing the Notes or the Subsidiary Guarantees, as the case may be, with the same relative
priority as such Indebtedness has with respect to the Notes or the Subsidiary Guarantees.

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Section 4.13 Line of Business.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, engage in any
business or activity other than the Principal Business, except to the extent as would not be
material to the Company and its Subsidiaries considered as one enterprise.

Section 4.14 Corporate Existence.

     Subject to Article 5 and Section 10.04 hereof, the Company shall do or cause to be done all
things necessary to preserve and keep in full force and effect:

     (1) its corporate existence, and the corporate, partnership or other existence of each
of its Restricted Subsidiaries, in accordance with the respective organizational documents
(as the same may be amended from time to time) of the Company or any such Restricted
Subsidiary; and

     (2) the rights (charter and statutory), licenses and franchises of the Company and its
Restricted Subsidiaries; provided, however, that the Company shall not be required to
preserve any such right, license or franchise, or the corporate, partnership or other
existence of any of its Restricted Subsidiaries, if the Company shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company
and its Restricted Subsidiaries, taken as a whole.

Section 4.15 Offer to Repurchase Upon Change of Control.

     (a) If a Change of Control occurs, each Holder will have the right to require the Company to
repurchase all or any part (equal to $2,000 or integral multiples of $1,000 in excess thereof) of
that Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) on the
terms set forth in this Indenture. Pursuant to such offer, the Company will offer a Change of
Control Payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus
accrued and unpaid interest (including Special Interest, if any) on the Notes repurchased to the
date of purchase, subject to the rights of Holders on the relevant record date to receive interest
due on an interest payment date that is on or prior to such date of purchase (the “Change of
Control Payment”). Within 30 days following any Change of Control, the Company will mail a notice
to each Holder describing the transaction or transactions that constitute the Change of Control and
stating:

     (1) that the Change of Control Offer is being made pursuant to this Section 4.15 and
that all Notes tendered will be accepted for payment;

     (2) the purchase price and the purchase date, which shall be no earlier than 30 days
and no later than 60 days from the date such notice is mailed (the “Change of Control
Payment Date");

     (3) that any Note not tendered will continue to accrue interest;

     (4) that, unless the Company defaults in the payment of the Change of Control Payment,
all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue
interest after the Change of Control Payment Date;

     (5) that Holders electing to have any Notes purchased pursuant to a Change of Control
Offer will be required to surrender the Notes, with the form entitled “Option of Holder to
Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the
Paying

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Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date;

     (6) that Holders will be entitled to withdraw their election if the Paying Agent
receives, not later than the close of business on the second Business Day preceding the
Change of Control Payment Date, a telegram, telex, electronic image scan, facsimile
transmission or letter setting forth the name of the Holder, the principal amount of Notes
delivered for purchase, and a statement that such Holder is withdrawing his election to have
the Notes purchased; and

     (7) that Holders whose Notes are being purchased only in part will be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered, which
unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of
$1,000 in excess thereof.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change in Control. To
the extent that the provisions of any securities laws or regulations conflict with the provisions
of this Section 4.15, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under this Section 4.15 by virtue of such
compliance.

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

     (1) accept for payment all Notes or portions of Notes properly tendered and not
properly withdrawn pursuant to the Change of Control Offer;

     (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered and not properly withdrawn; and

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

     The Paying Agent will promptly mail to each Holder of Notes properly tendered the Change of
Control Payment for such Notes (or, if all the Notes are then in global form, it will make such
payment through the facilities of DTC), and the Trustee will promptly authenticate and mail (or
cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any
unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a
principal amount of $2,000 or integral multiples of $1,000 in excess thereof.

     The Company will publicly announce the results of the Change of Control Offer on or as soon as
practicable after the Change of Control Payment Date.

     (c) In the event that Holders of not less than 90% of the aggregate principal amount of the
outstanding Notes accept a Change of Control Offer and the Company purchases all of the Notes held
by such Holders, the Company will have the right, in accordance with Section 3.07(d) hereof, upon
not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following the
purchase pursuant to the Change of Control Offer described in Section 4.15 (a) hereof, to redeem
all of the Notes that remain outstanding following such purchase at a redemption price equal to
101% of the aggregate principal

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amount of Notes repurchased plus accrued and unpaid interest (including Special Interest, if
any) on the Notes that remain outstanding to the date of redemption, subject to the right of the
Holders on the relevant record date to receive interest due on an interest payment date that is on
or prior to the redemption date.

     (d) The Company will not be required to make a Change of Control Offer upon a Change of
Control if (1) a third party makes the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of
Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under
the Change of Control Offer or (2) notice of redemption has been given pursuant to Section 3.03
hereof, unless and until there is a default in payment of the applicable redemption price.
Notwithstanding anything to the contrary contained in this Indenture, a Change of Control Offer may
be made in advance of a Change of Control, conditioned upon the consummation of such Change of
Control, if a definitive agreement is in place for the Change of Control at the time the Change of
Control Offer is made.

Section 4.16 Sale-and-Leaseback Transactions.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, enter into
any sale-and-leaseback transaction; provided that the Company or any Restricted Subsidiary, as
applicable, may enter into a sale-and-leaseback transaction if:

     (1) the Company or such Restricted Subsidiary could have

          (a) incurred Indebtedness in an amount equal to the Attributable Indebtedness relating
to such sale-and-leaseback transaction pursuant to the Consolidated Interest Coverage Ratio
test set forth in Section 4.09 hereof and

          (b) incurred a Lien to secure such Indebtedness pursuant to Section 4.12 hereof;

     (2) the gross cash proceeds of such sale-and-leaseback transaction are at least equal
to the fair market value of the property that is the subject of such sale-and-leaseback
transaction; and

     (3) the disposition of assets in such sale-and-leaseback transaction is permitted by,
and the Company or the applicable Restricted Subsidiary applies the proceeds of such
transaction in compliance with, Section 4.10 hereof.

Section 4.17 Payments for Consent.

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

Section 4.18 Additional Guarantors.

     If the Company or any of its Restricted Subsidiaries acquires or creates another Domestic
Restricted Subsidiary after the Issue Date that incurs Indebtedness under a Credit Facility or
guarantees any other Indebtedness of the Company, then the Company will cause that newly acquired
or created Domestic Restricted Subsidiary to become a Guarantor by executing a supplemental
indenture and

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delivering an Opinion of Counsel pursuant to Section 9.06 hereof within 10 business days of
the date on which it was acquired or created. Notwithstanding the preceding, any Subsidiary
Guarantee of a Guarantor that was incurred pursuant to this Section 4.18 as a result of its
guarantee or incurrence of any such Indebtedness shall be released upon the release or discharge of
the guarantee, or the repayment of the Indebtedness under a Credit Facility, that resulted in the
creation of such Subsidiary Guarantee in the first instance, except a discharge or release by, or
as a result of payment under, such guarantee. The form of such supplemental indenture is attached
as Exhibit F hereto.

Section 4.19 Changes in Covenants when Notes Rated Investment Grade.

     During any period beginning on a date when the Notes have an Investment Grade Rating and no
Default or Event of Default shall have occurred and be continuing, and continuing until the next
subsequent Reinstatement Date (as defined below), the Company and its Restricted Subsidiaries will
not be subject to the following provisions of this Indenture:

     (1) Section 4.07 hereof;

     (2) Section 4.08 hereof;

     (3) Section 4.09 hereof;

     (4) Section 4.10 hereof;

     (5) Section 4.11 hereof;

     (6) Section 4.13 hereof;

     (7) clauses (1)(a) and (3) of Section 4.16 hereof; and

     (8) clause (4) of Section 5.01 hereof;

(collectively, the “Suspended Covenants”); provided that if the Company and its Restricted
Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the
preceding portion of this sentence and, at any subsequent date the Notes do not have an Investment
Grade Rating, then the Company and its Restricted Subsidiaries will on such date immediately become
again subject to the Suspended Covenants, subject to the terms, conditions and obligations set
forth in this Indenture (each such date of reinstatement being referred to as a “Reinstatement
Date”). During any period that the Suspended Covenants have been suspended pursuant to the
preceding sentence, the Board of Directors may not designate any of the Company’s Restricted
Subsidiaries as Unrestricted Subsidiaries pursuant to the definition of “Unrestricted Subsidiary.”
Compliance with the Suspended Covenants with respect to Restricted Payments made after the
Reinstatement Date will be calculated in accordance with the terms of Section 4.07 hereof as though
such covenant had been in effect during the entire period of time from which the Notes are issued;
provided, however, no Restricted Payments made by the Company or any Restricted Subsidiary during
such period will constitute a Default or Event of Default.

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ARTICLE 5

SUCCESSORS

Section 5.01 Merger, Consolidation, or Sale of Assets.

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

     (1) either:

     (A) the Company is the surviving corporation; or

     (B) the Person formed by or surviving any such consolidation or merger (if
other than the Company) or to which such sale, assignment, transfer, conveyance or
other disposition shall have been made is organized or existing under the laws of
the United States, any state thereof or the District of Columbia;

     (2) the Person formed by or surviving any such consolidation or merger (if other than
the Company) or the Person to which such sale, assignment, transfer, conveyance or other
disposition shall have been made assumes all of the obligations of the Company under the
Notes, this Indenture and (if still then in effect) the Registration Rights Agreement
pursuant to one or more written agreements;

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

     (4) except in the case of a merger of the Company with or into a Restricted Subsidiary
of the Company, the Company or the Person formed by or surviving any such consolidation or
merger (if other than the Company), or the Person to which such sale, assignment, transfer,
conveyance or other disposition shall have been made will, at the time of such transaction
and after giving pro forma effect thereto as if such transaction had occurred at the
beginning of the applicable four-quarter period, be permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Consolidated Interest Coverage Ratio test set forth
in Section 4.09(a) hereof.

     In addition, the Company may not, directly or indirectly, lease all or substantially all of
its properties or assets, in one or more related transactions, to any other Person.

     Clauses (3) and (4) of the first paragraph of this Section 5.01 will not apply to:

     (1) a merger of the Company with an Affiliate solely for the purpose of reincorporating
the Company in another jurisdiction; or

     (2) any consolidation or merger, or any sale, assignment, transfer, conveyance or other
disposition of properties or assets between or among the Company and its Restricted
Subsidiaries that are Guarantors.

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Section 5.02 Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, transfer, assignment, conveyance or other
disposition of all or substantially all of the properties or assets of the Company in accordance
with the first paragraph of Section 5.01 hereof, the successor Person formed by such consolidation
or into or with which the Company is merged or to which such sale, transfer, assignment, conveyance
or other disposition is made, will succeed to and be substituted for the Company, and may exercise
every right and power of the Company under this Indenture with the same effect as if such successor
Person had been named as the Company herein. When the successor assumes all of the Company’s
obligations under this Indenture, the Company will be discharged from those obligations.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

     Each of the following is an “Event of Default”:

     (1) default for 30 days in the payment when due of interest (including Special
Interest, if any) on the Notes;

     (2) default in the payment when due of the principal of, or premium on, if any, the
Notes;

     (3) failure by the Company or any of its Restricted Subsidiaries to comply with the
provisions of Section 5.01 hereof or to consummate the purchase of Notes when required
pursuant to Sections 4.10 or 4.15 hereof;

     (4) failure by the Company for 90 days after notice to the Company by the Trustee or
the holders of at least 25% in aggregate principal amount of the Notes then outstanding to
comply with the provisions of Section 4.03 hereof;

     (5) failure by the Company or any of its Subsidiaries for 60 days after notice to the
Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding to comply with any of the other covenants applicable to the Company
or its Subsidiaries in this Indenture or the Notes;

     (6) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the
Company or any of its Restricted Subsidiaries), whether such Indebtedness or guarantee now
exists, or is created after the Issue Date, if that default:

     (A) is caused by a failure to pay principal of or premium or interest on such
Indebtedness prior to the expiration of any grace period provided in such
Indebtedness (a “Payment Default”); or

     (B) results in the acceleration of such Indebtedness prior to its express
maturity, in each case, unless the principal amount of any such Indebtedness,
together with the principal amount of any other such Indebtedness under which there
has been a Payment Default or the maturity of which has been so accelerated, is less
than $40.0

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million in the aggregate; provided, however, that if, prior to any acceleration
of the Notes, (i) any such Payment Default is cured or waived, (ii) any such
acceleration is rescinded, or (iii) such Indebtedness is repaid during the 10
business day period commencing upon the end of any applicable grace period for such
Payment Default or the occurrence of such acceleration, as applicable, any Default
or Event of Default (but not any acceleration of the Notes) caused by such Payment
Default or acceleration shall automatically be rescinded, so long as such rescission
does not conflict with any judgment, decree or applicable law;

     (7) any final judgment or decree (to the extent not covered by insurance) for the
payment of money in excess of $40.0 million is entered against the Company or any of its
Restricted Subsidiaries and is not paid or discharged, and there is any period of 60
consecutive days following entry of such final judgment or decree during which a stay of
enforcement of such final judgment or decree, by reason of pending appeal or otherwise, is
not in effect;

     (8) the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary
or any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:

     (A) commences a voluntary case,

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

     (C) consents to the appointment of a custodian of it or for all or
substantially all of its property,

     (D) makes a general assignment for the benefit of its creditors, or

     (E) generally is not paying its debts as they become due;

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

     (A) is for relief against the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary in an
involuntary case;

     (B) appoints a custodian of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary or for all
or substantially all of the property of the Company or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant
Subsidiary; or

     (C) orders the liquidation of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary;

     and the order or decree remains unstayed and in effect for 60 consecutive days; or

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     (10) except as permitted by this Indenture, any Subsidiary Guarantee is held in any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full
force and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies
or disaffirms its obligations under its Subsidiary Guarantee.

Section 6.02 Acceleration.

     In the case of an Event of Default specified in clause (8) or (9) of Section 6.01 hereof, with
respect to the Company, any Restricted Subsidiary of the Company that is a Significant Subsidiary
or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary, all outstanding Notes will become due and payable immediately without
further action or notice. If any other Event of Default occurs and is continuing, the Trustee or
the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare
all the Notes to be due and payable immediately.

     Upon any such declaration, the Notes shall become due and payable immediately.

     The Holders of a majority in aggregate principal amount of the Notes then outstanding by
written notice to Company and the Trustee may, on behalf of the Holders of all of the Notes,
rescind an acceleration or waive any continuing Default and its consequences under this Indenture
except a continuing Default in the payment of principal of, premium on, if any, interest or Special
Interest, if any, on, the Notes or in respect of a provision of this Indenture that cannot be
modified or amended without the consent of each Holder.

Section 6.03 Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal of, premium on, if any, interest and Special Interest, if any,
on, the Notes or to enforce the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

Section 6.04 Waiver of Past Defaults.

     The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Company and the Trustee may, on behalf of the Holders of all of the Notes
rescind an acceleration or waive any continuing Default and its consequences hereunder, except a
continuing Default in the payment of the principal of, premium on, if any, interest and Special
Interest, if any, on, the Notes or in respect of a covenant that cannot be modified or amended
without the consent of each Holder; provided, however, that the Holders of a majority in aggregate
principal amount of the then outstanding Notes may rescind an acceleration and its consequences,
including any related payment default that resulted from such acceleration. Upon any such waiver,
such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to
have been cured for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon.

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Section 6.05 Control by Majority.

     Holders of a majority in aggregate principal amount of the then outstanding Notes may direct
the time, method and place of conducting any proceeding for exercising any remedy available to the
Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture that the Trustee determines may be
unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in
personal liability.

Section 6.06 Limitation on Suits.

     Except to enforce the right to receive payment of principal, premium (if any) or interest
(including Special Interest, if any) when due, no Holder of a Note may pursue any remedy with
respect to this Indenture or the Notes unless:

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

     (2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes
have requested the Trustee to pursue the remedy;

     (3) such Holders have offered the Trustee reasonable security or indemnity against any
cost, liability or expense;

     (4) the Trustee has not complied with such request within 60 days after receipt thereof
and the offer of security or indemnity; and

     (5) Holders of a majority in aggregate principal amount of the outstanding Notes have
not given the Trustee a direction inconsistent with such request within such 60-day period.

     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.

Section 6.07 Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal of, premium on, if any, interest and Special Interest, if any, on, the
Note, on or after the respective due dates expressed in the Note (including in connection with an
offer to purchase), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder.

Section 6.08 Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, premium on, if any, interest and Special
Interest, if any, on, the Notes and interest on overdue principal and, to the extent lawful,
interest and such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel.

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Section 6.09 Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Notes), its creditors or its property and shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding whether in liquidation or
under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or
the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding.

Section 6.10 Priorities.

     If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in
the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.07
hereof, including payment of all compensation, expenses and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, interest and Special Interest, if any, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Notes for principal,
premium, if any, interest and Special Interest, if any, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall
direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

Section 6.11 Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to

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Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of
the then outstanding Notes.

ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs.

     (b) Except during the continuance of an Event of Default:

     (1) the duties of the Trustee will be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee will examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

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

     (3) the Trustee will not be liable with respect to any action it takes or omits to take
in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01.

     (e) No provision of this Indenture will require the Trustee to expend or risk its own funds or
incur any liability. The Trustee will be under no obligation to exercise any of its rights and
powers under this Indenture at the request of any Holders, unless such Holder has offered to the
Trustee reasonable security and indemnity satisfactory to it against any cost, liability or
expense.

     (f) The Trustee will not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

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Section 7.02 Rights of Trustee.

     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee
may consult with counsel and the written advice of such counsel or any Opinion of Counsel will be
full and complete authorization and protection from liability in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon.

     (c) The Trustee may act through its attorneys and agents and will not be responsible for the
misconduct or negligence of any agent appointed with due care.

     (d) The Trustee will not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within the rights or powers conferred upon it by this Indenture.

     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company will be sufficient if signed by an Officer of the Company.

     (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders have
offered to the Trustee reasonable indemnity or security satisfactory to it against the costs,
liabilities and expenses that might be incurred by it in compliance with such request or direction.

Section 7.03 Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Company or any Affiliate of the Company with the same rights it
would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest (as defined in the TIA) after a Default has occurred and is continuing, it must eliminate
such conflict within 90 days, apply to the SEC for permission to continue as trustee (if this
Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights
and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.

Section 7.04 Trustee’s Disclaimer.

     The Trustee will not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use of the
proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any
provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

Section 7.05 Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee will mail to Holders of Notes a notice of the Default or Event of Default within 90
days after it

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occurs. Except in the case of a Default or Event of Default in payment of principal of,
premium on, if any, interest or Special Interest, if any, on, any Note, the Trustee may withhold
the notice if and so long as a committee of its Responsible Officers in good faith determines that
withholding the notice is in the interests of the Holders of the Notes.

Section 7.06 Reports by Trustee to Holders of the Notes.

     (a) Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the
Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no
event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date,
no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee
will also transmit by mail all reports as required by TIA § 313(c).

     (b) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by
the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which
the Notes are listed in accordance with TIA § 313(d). The Company will promptly notify the Trustee
when the Notes are listed on any stock exchange.

Section 7.07 Compensation and Indemnity.

     (a) The Company will pay to the Trustee from time to time reasonable compensation for its
acceptance of this Indenture and services hereunder. The Trustee’s compensation will not be
limited by any law on compensation of a trustee of an express trust. The Company will reimburse
the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred
or made by it in addition to the compensation for its services. Such expenses will include the
reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

     (b) The Company and the Guarantors will indemnify the Trustee against any and all costs,
liabilities or expenses incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the costs and expenses of enforcing
this Indenture against the Company and the Guarantors (including this Section 7.07) and defending
itself against any claim (whether asserted by the Company, the Guarantors, any Holder or any other
Person) or liability in connection with the exercise or performance of any of its powers or duties
hereunder, except to the extent any such cost, liability or expense may be attributable to its
negligence or bad faith. The Trustee will notify the Company promptly of any claim for which it
may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company
or any of the Guarantors of its/their obligations hereunder. The Company or such Guarantor will
defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate
counsel and the Company will pay the reasonable fees and expenses of such counsel. Neither the
Company nor any Guarantor need pay for any settlement made without its consent, which consent will
not be unreasonably withheld.

     (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

     (d) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the
Trustee will have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal of, premium on, if any, interest and Special
Interest, if any, on, particular Notes. Such Lien will survive the satisfaction and discharge of
this Indenture.

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     (e) When the Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(8) or (9) hereof occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

     (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable.

Section 7.08 Replacement of Trustee.

     (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.08.

     (b) The Trustee may resign in writing at any time and be discharged from the trust hereby
created by so notifying the Company. The Holders of a majority in aggregate principal amount of
the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company may remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10 hereof;

     (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (3) a custodian or public officer takes charge of the Trustee or its property; or

     (4) the Trustee becomes incapable of acting.

     (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for
any reason, the Company will promptly appoint a successor Trustee. Within one year after the
successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.

     (d) If a successor Trustee does not take office within 60 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in
aggregate principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee.

     (e) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

     (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will
become effective, and the successor Trustee will have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee will mail a notice of its succession to
Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant
to this Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the
benefit of the retiring Trustee.

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Section 7.09 Successor Trustee by Merger, etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act will be the successor Trustee.

Section 7.10 Eligibility; Disqualification.

     There will at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

     This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

Section 7.11 Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may at any time, at the option of its Board of Directors evidenced by a resolution
set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied
to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

Section 8.02 Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.02, the Company and each of the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with
respect to all outstanding Notes (including the Subsidiary Guarantees) on the date the conditions
set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal
Defeasance means that the Company and the Guarantors will be deemed to have paid and discharged the
entire Indebtedness represented by the outstanding Notes (including the Subsidiary Guarantees),
which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof
and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have
satisfied all their other obligations under such Notes, the Subsidiary Guarantees and this
Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following provisions which will survive until
otherwise terminated or discharged hereunder:

     (1) the rights of Holders of outstanding Notes to receive payments in respect of the
principal of, premium on, if any, interest or Special Interest, if any, on, such Notes when
such payments are due from the trust referred to in Section 8.04 hereof;

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     (2) the Company’s obligations with respect to the Notes under Article 2 and Section
4.02 hereof;

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

     (4) this Article 8.

     Subject to compliance with this Article 8, the Company may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.

Section 8.03 Covenant Defeasance.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.03, the Company and each of the Guarantors will, subject to the satisfaction of the conditions
set forth in Section 8.04 hereof, be released from each of their/its obligations under the
covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.15, 4.16, 4.17, 4.18
and 4.19 hereof and clause (4) of Section 5.01 hereof with respect to the outstanding Notes on and
after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter,
"Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes
of any direction, waiver, consent or declaration or act of Holders (and the consequences of any
thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all
other purposes hereunder (it being understood that such Notes will not be deemed outstanding for
accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes and Subsidiary Guarantees, the Company and the Guarantors may omit to comply with
and will have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such
covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply will not constitute a Default or an Event of Default
under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such
Notes and Subsidiary Guarantees will be unaffected thereby. In addition, upon the Company’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(3) through 6.01(7)
hereof and Sections 6.01(8) and (9) hereof (but only with respect to Subsidiaries of the Company)
will not constitute Events of Default.

Section 8.04 Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02
or 8.03 hereof:

     (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm, or firm of independent public accountants, to pay the
principal of, premium on, if any, interest and Special Interest, if any, on, the outstanding
Notes on the stated date for payment thereof or on the applicable redemption date, as the
case may be, and the Company must specify whether the Notes are being defeased to such
stated date for payment or to a particular redemption date;

     (2) in the case of an election under Section 8.02 hereof, the Company must deliver to
the Trustee an Opinion of Counsel confirming that:

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     (A) the Company has received from, or there has been published by, the Internal
Revenue Service a ruling; or

     (B) since the Issue Date, there has been a change in the applicable federal
income tax law,

in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the outstanding Notes will not recognize income, gain
or loss for federal income tax purposes as a result of such Legal Defeasance and
will be subject to federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such Legal Defeasance had not
occurred;

     (3) in the case of an election under Section 8.03 hereof, the Company must deliver to
the Trustee an Opinion of Counsel confirming that the Holders of the outstanding Notes will
not recognize income, gain or loss for federal income tax purposes as a result of such
Covenant Defeasance and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such Covenant Defeasance
had not occurred;

     (4) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit);

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

     (6) the Company must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of Notes over
the other creditors of the Company with the intent of defeating, hindering, delaying or
defrauding any creditors of the Company or others;

     (7) the Company must deliver to the Trustee an Officers’ Certificate stating that all
conditions precedent set forth in clauses (1) through (6) of this Section 8.04 have been
complied with; and

     (8) the Company must deliver to the trustee an Opinion of Counsel (which opinion of
counsel may be subject to customary assumptions, qualifications and exclusions), stating
that all conditions precedent set forth in clauses (2), (3) and (5) of this Section 8.04
have been complied with; provided that the Opinion of Counsel with respect to clause (5) of
this Section 8.04 may be to the knowledge of such counsel.

Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions.

     Subject to Section 8.06 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the
outstanding Notes will be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as

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Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and
to become due thereon in respect of principal, premium, if any, interest and Special Interest, if
any, but such money need not be segregated from other funds except to the extent required by law.

     The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or non-callable Government Securities deposited pursuant to Section
8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the outstanding Notes.

     Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to
the Company from time to time upon the request of the Company any money or non-callable Government
Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in
excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance.

Section 8.06 Repayment to Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium on, if any, interest or Special Interest, if
any, on, any Note and remaining unclaimed for two years after such principal, premium, if any,
interest and Special Interest, if any, has become due and payable shall be paid to the Company on
its request or (if then held by the Company) will be discharged from such trust; and the Holder of
such Note will thereafter be permitted to look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such repayment, may at the expense of the
Company cause to be published once, in the New York Times and The Wall Street Journal (national
edition), notice that such money remains unclaimed and that, after a date specified therein, which
will not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining will be repaid to the Company.

Section 8.07 Reinstatement.

     If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government
Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the Guarantors’ obligations under this
Indenture and the Notes and the Subsidiary Guarantees will be revived and reinstated as though no
deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof,
as the case may be; provided, however, that, if the Company makes any payment of principal of,
premium on, if any, interest or Special Interest, if any, on, any Note following the reinstatement
of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to
receive such payment from the money held by the Trustee or Paying Agent.

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ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

     Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee
may amend or supplement this Indenture or the Notes or the Subsidiary Guarantees without the
consent of any Holder of Note:

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

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

     (3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the
Holders of the Notes and Subsidiary Guarantees by a successor to the Company or such
Guarantor pursuant to Article 5 or Article 10 hereof;

     (4) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any
Holder;

     (5) to secure the Notes or the Subsidiary Guarantees pursuant to the requirements of
Section 4.12 hereof;

     (6) add any Guarantor to or release any Guarantor from its Subsidiary Guarantee, in
each case as provided in this Indenture;

     (7) to conform the text of this Indenture or the Notes to any provision of the
“Description of Notes” section of the Company’s Offering Memorandum dated June 5, 2009,
relating to the initial offering of the Notes, to the extent that such provision in that
“Description of Notes” was intended to be a verbatim recitation of a provision of this
Indenture, the Subsidiary Guarantees or the Notes;

     (8) provide for the issuance of Additional Notes or a successor Trustee in respect of
the Notes in accordance with the provisions of this Indenture; or

     (9) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the
Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company
and the Guarantors in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee will not be obligated to enter into
such amended or supplemental indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

Section 9.02 With Consent of Holders of Notes.

     Except as provided below in this Section 9.02, the Company, the Guarantors and the Trustee may
amend or supplement this Indenture and the Notes and the Subsidiary Guarantees with the consent of
the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
(including,

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without limitation, Additional Notes, if any) voting as a single class (including, without
limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase
of, the Notes), and any existing Default or Event of Default or compliance with any provision of
this Indenture or the Notes or the Subsidiary Guarantees may be waived with the consent of the
Holders of a majority in aggregate principal amount of the then outstanding Notes voting as a
single class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes).

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section 9.06 hereof, the
Trustee will join with the Company and the Guarantors in the execution of such amended or
supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.

     It is not be necessary for the consent of the Holders of Notes under this Section 9.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient
if such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Company will mail to the Holders of Notes affected thereby a notice briefly describing the
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, will not, however, in any way impair or affect the validity of any such amended or
supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a
majority in aggregate principal amount of the Notes then outstanding voting as a single class may
waive compliance in a particular instance by the Company with any provision of this Indenture or
the Notes or the Subsidiary Guarantees. However, without the consent of each Holder affected, an
amendment, supplement or waiver under this Section 9.02 may not (with respect to any Notes held by
a non-consenting Holder):

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

     (2) reduce the principal of or change the fixed maturity of any Note or alter any of
the provisions with respect to the redemption of the Notes; provided, however, that any
purchase or repurchase of Notes, including pursuant to Sections 4.10 and 4.15 hereof, shall
not be deemed a redemption of the Notes;

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

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

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

     (6) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Notes to receive payments of principal of, premium on,
if any, interest or Special Interest, if any, on, the Notes;

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     (7) waive a redemption payment with respect to any Note; provided, however, that any
purchase or repurchase of Notes, including pursuant to Sections 4.10 and 4.15 hereof, shall
not be deemed a redemption of the Notes;

     (8) release any Guarantor from any of its obligations under its Subsidiary Guarantee or
this Indenture, except in accordance with the terms of this Indenture; or

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

Section 9.03 Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Notes will be set forth in a amended or
supplemental indenture that complies with the TIA as then in effect.

Section 9.04 Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

Section 9.05 Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

     Failure to make the appropriate notation or issue a new Note will not affect the validity and
effect of such amendment, supplement or waiver.

Section 9.06 Trustee to Sign Amendments, etc.

     The Trustee will sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. In executing any amended or supplemental indenture, the Trustee will
be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying
upon, in addition to the documents required by Section 12.04 hereof, an Officers’ Certificate and
an Opinion of Counsel stating that the execution of such amended or supplemental indenture is
authorized or permitted by this Indenture.

ARTICLE 10

SUBSIDIARY GUARANTEES

Section 10.01. Guarantee.

     (a) Subject to this Article 10, each of the Guarantors hereby, jointly and severally, fully
and unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee
and to the

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Trustee and its successors and assigns, irrespective of the validity and enforceability of
this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:

     (1) the principal of, premium on, if any, interest and Special Interest, if any, on,
the Notes will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of, premium on, if any,
interest and Special Interest, if any, on the Notes, if lawful, and all other obligations of
the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in
full or performed, all in accordance with the terms hereof and thereof; and

     (2) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise.

     Failing payment when due of any amount so guaranteed or any performance so guaranteed for
whatever reason, the Guarantors will be jointly and severally obligated to pay the same
immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of
collection.

     (b) The Guarantors hereby agree that their obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenant that this Subsidiary Guarantee will not be
discharged except by complete performance of the obligations contained in the Notes and this
Indenture.

     (c) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in
relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such
Holder, this Subsidiary Guarantee, to the extent theretofore discharged, will be reinstated in full
force and effect.

     (d) Each Guarantor agrees that it will not be entitled to any right of subrogation in relation
to the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on
the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes
of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any
declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations
(whether or not due and payable) will forthwith become due and payable by the Guarantors for the
purpose of this Subsidiary Guarantee. Each Guarantor that makes a payment will have the right to
seek pro rata contribution from each other Guarantor based on the Adjusted Net Assets of each
Guarantor, so long as the exercise of such right does not impair the rights of the Holders under
the Subsidiary Guarantee.

     Section 10.02. Limitation on Guarantor Liability.

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     Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Subsidiary Guarantee of such Guarantor not constitute a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent
applicable to any Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the
Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be
limited to the maximum amount that will, after giving effect to such maximum amount and all other
contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after
giving effect to any collections from, rights to receive contribution from or payments made by or
on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this
Article 10, result in the obligations of such Guarantor under its Subsidiary Guarantee not
constituting a fraudulent transfer or conveyance.

Section 10.03. Execution and Delivery of Subsidiary Guarantee.

     To evidence its Subsidiary Guarantee set forth in Section 10.01 hereof, each Guarantor hereby
agrees that a notation of such Subsidiary Guarantee substantially in the form attached as Exhibit E
hereto will be endorsed by an Officer of such Guarantor on each Note authenticated and delivered by
the Trustee and that this Indenture will be executed on behalf of such Guarantor by one of its
Officers.

     Each Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section 10.01 hereof
will remain in full force and effect notwithstanding any failure to endorse on each Note a notation
of such Subsidiary Guarantee.

     If an Officer whose signature is on this Indenture or on the notation of Subsidiary Guarantee
no longer holds that office at the time the Trustee authenticates the Note on which a notation of
Subsidiary Guarantee is endorsed, the Subsidiary Guarantee will be valid nevertheless.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, will
constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the
Guarantors.

     In the event that the Company or any of its Restricted Subsidiaries creates or acquires any
Domestic Restricted Subsidiary after the date of this Indenture, if required by Section 4.18
hereof, the Company will cause such Domestic Restricted Subsidiary to comply with the provisions of
Section 4.18 hereof and this Article 10, to the extent applicable.

Section 10.04. Guarantors May Consolidate, etc., on Certain Terms.

     Except as otherwise provided in Section 10.05 hereof, no Guarantor may sell or otherwise
dispose of all or substantially all of its assets to, or consolidate with or merge with or into
(whether or not such Guarantor is the surviving Person), another Person (other than the Company or
a Restricted Subsidiary of the Company), whether or not affiliated with such Guarantor, unless:

     (1) immediately after giving effect to such transaction, no Default or Event of Default
exists; and

     (2) either:

          (a) subject to Section 10.05 hereof, the Person acquiring the assets in any such sale
or disposition, or the Person formed by or surviving any such consolidation or merger,
assumes all of the obligations of that Guarantor under this Indenture, its Subsidiary
Guarantee

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and (if then still in effect) the Registration Rights Agreement, pursuant to a
supplemental indenture satisfactory to the Trustee; or

          (b) the Net Proceeds of such sale or other disposition are applied in accordance with
the applicable provisions of this Indenture, including without limitation, Section 4.10
hereof.

     In case of any such consolidation, merger, sale or conveyance and upon the assumption by the
successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory
in form to the Trustee, of the Subsidiary Guarantee of the Guarantor and the due and punctual
performance of all of the covenants and conditions of this Indenture to be performed by the
Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same
effect as if it had been named herein as a Guarantor. Such successor Person thereupon may cause to
be signed any or all of the notations of Subsidiary Guarantees to be endorsed upon all of the Notes
issuable hereunder which theretofore shall not have been signed by the Company and delivered to the
Trustee. All the Subsidiary Guarantees so issued will in all respects have the same legal rank and
benefit under this Indenture as the Subsidiary Guarantees theretofore and thereafter issued in
accordance with the terms of this Indenture as though all of such Subsidiary Guarantees had been
issued at the date of the execution hereof.

     Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses 2(a) and (b)
above, nothing contained in this Indenture or in any of the Notes will prevent any consolidation or
merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or
conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the
Company or another Guarantor.

Section 10.05. Releases.

     (a) In the event of a sale or other disposition, including by way of merger, consolidation or
otherwise, of all or substantially all of the assets or all of the Capital Stock of any Guarantor
to any Person that is not (either before or after giving effect to such transaction) the Company or
a Restricted Subsidiary of the Company, then such Guarantor will be released and relieved of any
obligations under its Subsidiary Guarantee, if:

          (1) the Net Proceeds of such sale or other disposition are applied in
accordance with the applicable provisions of this Indenture, including without limitation
Section 4.10 hereof; and

          (2) upon such release, the obligations of such Guarantor in respect of any and all other
guarantees of Indebtedness of the Company or a Guarantor are similarly released.

Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel
to the effect that such sale or other disposition was made by the Company in accordance with the
provisions of this Indenture, including without limitation Section 4.10 hereof, the Trustee will
execute any documents reasonably required in order to evidence the release of any Guarantor from
its obligations under its Subsidiary Guarantee.

     (b) In the event the Board of Directors designates a Guarantor to be an Unrestricted
Subsidiary, then such Guarantor will be released and relieved of any obligations under its
Subsidiary Guarantee, provided that such designation is conducted in accordance with the applicable
provisions of the indenture.

     (c) Upon (i) the circumstances described in the second sentence of Section 4.18 hereof, (ii)
Legal Defeasance in accordance with Article 8 hereof or (iii) satisfaction and discharge of this
Indenture

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in accordance with Article 11 hereof, each Guarantor will be released and relieved of any
obligations under its Subsidiary Guarantee.

     Any Guarantor not released from its obligations under its Subsidiary Guarantee as provided in
this Section 10.05 will remain liable for the full amount of principal of, premium on, if any,
interest and Special Interest, if any, on, the Notes and for the other obligations of any Guarantor
under this Indenture as provided in this Article 10.

ARTICLE 11

SATISFACTION AND DISCHARGE

Section 11.01 Satisfaction and Discharge.

     This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder (except as to surviving rights of registration or transfer or exchange of the
Notes and as otherwise specified in this Indenture), when:

     (1) either:

          (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that
have been replaced or paid and Notes for whose payment money has theretofore been deposited
in trust and thereafter repaid to the Company, have been delivered to the Trustee for
cancellation; or

          (b) all Notes that have not been delivered to the Trustee for cancellation have become
due and payable or will become due and payable within one year by reason of the mailing of a
notice of redemption or otherwise and the Company or any Guarantor has irrevocably deposited
or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of
the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, in such amounts as will be sufficient, without consideration of any reinvestment of
interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the
Trustee for cancellation for principal of, premium on, if any, interest and Special
Interest, if any, to the date of final maturity or redemption;

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

     (3) such deposit will not result in a breach or violation of, or constitute a default
under, any other material agreement or instrument to which the Company or any Guarantor is a
party or by which the Company or any Guarantor is bound;

     (4) the Company or any Guarantor has paid or caused to be paid all sums payable by it
under this Indenture; and

     (5) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at Stated Maturity or
the redemption date, as the case may be.

In addition, the Company must deliver to the Trustee (a) an Officers’ Certificate, stating that all
conditions precedent set forth in clauses (1) through (5) of this Section 11.01 have been
satisfied, and (b)

84

 

an Opinion of Counsel (which Opinion of Counsel may be subject to customary assumptions and
qualifications), stating that all conditions precedent set forth in clauses (3) and (5) of this
Section 11.01 have been satisfied; provided that the Opinion of Counsel with respect to clause (3)
of this Section 11.01 may be to the knowledge of such counsel.

     Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited
with the Trustee pursuant to subclause (b) of clause (1) of this Section 11.01, the provisions of
Sections 11.02 and 8.06 hereof will survive. In addition, nothing in this Section 11.01 will be
deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the
satisfaction and discharge of this Indenture.

Section 11.02 Application of Trust Money.

     Subject to the provisions of Section 8.06 hereof, all money and proceeds of Government
Securities deposited with the Trustee pursuant to Section 11.01 hereof shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal, premium, if any,
interest and Special Interest, if any, for whose payment such money or Government Securities have
been deposited with the Trustee; but such money and Government Securities need not be segregated
from other funds except to the extent required by law.

     If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 11.01 hereof by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof;
provided that if the Company has made any payment of principal of, premium on, if any, interest or
Special Interest, if any, on, any Notes because of the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from
the money or Government Securities held by the Trustee or Paying Agent.

ARTICLE 12

MISCELLANEOUS

Section 12.01 Trust Indenture Act Controls.

     This Indenture shall incorporate and be governed by the provisions of the TIA that are
required to be part of and to govern indentures qualified under the TIA. If any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties
will control.

Section 12.02 Notices.

     Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly
given if in writing in the English language and delivered in Person or by first class mail
(registered or certified, return receipt requested), electronic image scan, facsimile transmission
or overnight air courier guaranteeing next day delivery, to the others’ address:

85

 

If to the Company and/or any Guarantor:

Holly Corporation

100 Crescent Court, Suite 1600

Dallas, Texas 75201

Facsimile No.: (214) 615-9374

Attention: General Counsel

With a copy to:

Vinson & Elkins L.L.P.

Trammell Crow Center

2001 Ross Avenue, Suite 2700

Dallas, Texas 75201

Facsimile No.: (214) 220-7716

Attention: Christopher R. Rowley, Esq.

If to the Trustee:

U. S. Bank Trust National Association

950 17th Street, 12th floor

Denver, Colorado 80202

Facsimile No.: (303) 585-6865

Attention: Corporate Trust Services

     The Company, any Guarantor or the Trustee, by notice to the others, may designate additional
or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) will be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by
electronic image scan or facsimile; and the next Business Day after timely delivery to the courier,
if sent by overnight air courier guaranteeing next day delivery.

     Any notice or communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication will also be
so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to
mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with
respect to other Holders.

     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee
and each Agent at the same time.

Section 12.03 Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

86

 

Section 12.04 Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee:

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which must include the statements set forth in Section 12.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which must include the statements set forth in Section 12.05 hereof) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been satisfied.

Section 12.05 Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply
with the provisions of TIA § 314(e) and must include:

     (1) a statement that the Person making such certificate or opinion has read such
covenant or condition;

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

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

     (4) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

Section 12.06 Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders.

     No director, officer, employee, incorporator or owner of any Equity Interest of the Company or
any Guarantor, as such, will have any liability for any obligations of the Company or the
Guarantors under the Notes, this Indenture, the Subsidiary Guarantees or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting
a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes.

     Section 12.08 Payment Date Other Than a Business Day.

     If any payment with respect to any principal of, premium on, if any, or interest or Special
Interest, if any, on any Note (including any payment to be made on any date fixed for redemption or
purchase of any Note) is due on a day which is not a Business Day, then the payment need not be
made on such date,

87

 

but may be made on the next Business Day with the same force and effect as if made on such
date, and no interest will accrue for the intervening period.

Section 12.09 Governing Law.

     THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES
AND THE SUBSIDIARY GUARANTEES.

Section 12.10 No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

Section 12.11 Successors.

     All agreements of the Company in this Indenture and the Notes will bind its successors. All
agreements of the Trustee in this Indenture will bind its successors. All agreements of each
Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 10.05
hereof.

Section 12.12 Severability.

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

Section 12.13 Counterpart Originals.

     The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement.

Section 12.14 Table of Contents, Headings, etc.

     The Table of Contents, Cross-Reference Table and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and will in no way modify or restrict any of the terms or provisions hereof.

[Signatures on following page]

88

 

SIGNATURES

Dated as of June 10, 2009

	 	 	 	 	 
	 	HOLLY CORPORATION

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 
	 	HOLLY TRUCKING, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	ROADRUNNER PIPELINE, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY REFINING & MARKETING — TULSA LLC

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 
	 	BLACK EAGLE, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY PAYROLL SERVICES, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	HOLLY PETROLEUM, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY REFINING & MARKETING COMPANY

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY REFINING & MARKETING COMPANY — WOODS CROSS

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY REFINING COMMUNICATIONS, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY UNEV PIPELINE COMPANY

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY UTAH HOLDINGS, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	HOLLY WESTERN ASPHALT COMPANY

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	LEA REFINING COMPANY

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	LOREFCO, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	MONTANA REFINING COMPANY, A PARTNERSHIP

 	 
	 	By:  	Black Eagle, Inc., partner
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 	 	 
	 	By:  	                                                  Navajo Northern, Inc., partner
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	MONTANA RETAIL CORPORATION

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO CRUDE OIL PURCHASING, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	NAVAJO HOLDINGS, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO NORTHERN, INC.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO PIPELINE GP, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO PIPELINE LP, L.L.C.

 	 
	 	By:  	Navajo Holdings, Inc., its sole member
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO PIPELINE CO., L.P.

 	 
	 	By:  	Navajo Pipeline GP., L.L.C.
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO REFINING COMPANY, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	NAVAJO REFINING GP, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NAVAJO REFINING LP, L.L.C.

 	 
	 	By:  	Holly Corporation, its sole member
 	 
	 	 	 
	 	By:  	                                                /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 
	 	NAVAJO WESTERN ASPHALT COMPANY

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	NK ASPHALT PARTNERS D/B/A HOLLY ASPHALT COMPANY

 	 
	 	By:  	Navajo Western Asphalt Company, partner
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 	 	 
	 	By:  	                                                  Holly Western Asphalt Company, partner
 	 
	 	 	 
	 	By:  	                                                  /s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 
	 	WOODS CROSS REFINING COMPANY, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Vice President and Chief Financial Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	HOLLY REALTY, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 
	 	HOLLYMARKS, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 
	 	HRM REALTY, L.L.C.

 	 
	 	By:  	/s/ Bruce R. Shaw
 	 
	 	 	Bruce R. Shaw 	 
	 	 	Senior Vice President and Chief Financial
Officer 	 
	 

[Indenture]

 

 

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ William W. MacMillan
 	 
	 	 	Name:  	William W. MacMillan 	 
	 	 	Title:  	Vice President 	 
	 

[Indenture]

 

 

EXHIBIT A

[Face of Note]

 

[Insert Original Issue Discount Legend here, if applicable.]

CUSIP/CINS                     

9.875% Senior Notes due 2017

			
	 	 	 
	No.      
	 	$                    

HOLLY CORPORATION

	 	 	 	 	 
	promises to pay to

	 	 	 	or registered assigns,
	 

	 	 	 	 

	 	 	 	 	 
	the principal sum of

	 	 	 	DOLLARS on June 15, 2017.
	 

	 	 	 	 

Interest Payment Dates: June 15 and December 15

Record Dates: June 1 and December 1

Dated: June 10, 2009

	 	 	 	 	 
	 	HOLLY CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

This is one of the Notes referred to

in the within-mentioned Indenture:

U.S. BANK TRUST NATIONAL ASSOCIATION,

   as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

A-1

 

[Back of Note]

9.875% Senior Notes due 2017

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

     Capitalized terms used herein have the meanings assigned to them in the Indenture referred to
below unless otherwise indicated.

     (1) Interest. Holly Corporation, a Delaware corporation (the “Company”),
promises to pay or cause to be paid interest on the principal amount of this Note at 9.875%
per annum from
                    , 20___ until maturity and shall pay the Special Interest, if
any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below.
The Company will pay interest and Special Interest, if any, semi-annually in arrears on June
15 and December 15 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will
accrue from the most recent date to which interest has been paid or, if no interest has been
paid, from the date of issuance; provided if this Note is authenticated between a record
date referred to on the face hereof and the next succeeding Interest Payment Date, interest
shall accrue from such next succeeding Interest Payment Date; provided further that the
first Interest Payment Date shall be                     , 20___. The Company will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal at a rate that is 1.00% higher than the then applicable interest rate on the Notes
to the extent lawful; it will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Special
Interest, if any (without regard to any applicable grace period), at the same rate to the
extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve
30-day months.

     (2) Method of Payment. The Company will pay interest on the Notes (except
defaulted interest) and Special Interest, if any, to the Persons who are registered Holders
of Notes at the close of business on the June 1 or December 1 next preceding the Interest
Payment Date, even if such Notes are canceled after such record date and on or before such
Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium, if any, interest
and Special Interest, if any, at the office or agency of the Paying Agent, or, at the option
of the Company, payment of interest and Special Interest, if any, may be made by check
mailed to the Holders at their addresses set forth in the register of Holders; provided that
payment by wire transfer of immediately available funds will be required with respect to
principal of, premium on, if any, interest and Special Interest, if any, on, all Global
Notes and all other Notes aggregating at least $1.0 million in principal amount the Holders
of which will have provided wire transfer instructions to the Company or the Paying Agent.
Such payment will be in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts.

     (3) Paying Agent and Registrar. Initially, U.S. Bank Trust National
Association, the Trustee under the Indenture, will act as Paying Agent and Registrar at its
corporate trust office in St. Paul, Minnesota, and as Paying Agent at its corporate trust
office in The City of New York, New York. The Company may change the Paying Agent or
Registrar without prior notice to the Holders of the Notes. The Company or any of its
Subsidiaries may act as Paying Agent or Registrar.

A-2

 

     (4) Indenture. The Company issued the Notes under an Indenture dated as of
June 10, 2009 (the “Indenture”) among the Company, the Guarantors and the Trustee. The
terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are
referred to the Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. The Notes are unsecured
obligations of the Company. The Indenture does not limit the aggregate principal amount of
Notes that may be issued thereunder.

     (5) Optional Redemption.

     (a) Except as set forth in subparagraphs (b), (c) and (d) of this Paragraph 5, the Company
will not have the option to redeem the Notes prior to June 15, 2013. On or after June 15, 2013,
the Company may on one or more occasions redeem the Notes, in whole or in part, at the redemption
prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid
interest and Special Interest, if any, on the Notes redeemed to the applicable redemption date, if
redeemed during the twelve-month period beginning on June 15 of the years indicated below, subject
to the rights of Holders on the relevant record date to receive interest on an interest payment
date that is on or prior to the redemption date:

	 	 	 	 	 
	Year	 	Percentage
	2013
	 	 	104.9375	%
	2014
	 	 	102.4688	%
	2015 and thereafter
	 	 	100.0000	%

     Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable redemption date.

     (b) Notwithstanding the provisions of subparagraph (a) of this Paragraph 5, at any time prior
to June 15, 2012, the Company may on any one or more occasions redeem up to 35% of the aggregate
principal amount of Notes originally issued under the Indenture at a redemption price of 109.875%
of the principal amount thereof, plus accrued and unpaid interest and Special Interest, if any, to
the redemption date (subject to the rights of Holders on the relevant record date to receive
interest on an interest payment date that is on or prior to the redemption date), with the net cash
proceeds of one or more Equity Offerings; provided that (1) at least 65% in aggregate principal
amount of Notes originally issued under the Indenture remains outstanding immediately after the
occurrence of such redemption (excluding Notes held by the Company or its Affiliates) and (2) the
redemption occurs within 120 days of the date of each such Equity Offering.

     (c) The Company may redeem all (but not a portion of) the Notes when permitted by, and
pursuant to the conditions in, Section 4.15(c) of the Indenture.

     (d) At any time prior to June 15, 2013, the Company may on one or more occasions redeem the
Notes, in whole or in part, at the Make-Whole Price, plus accrued and unpaid interest and Special
Interest, if any, to the applicable date of redemption, subject to the rights of Holders on the
relevant record date to receive interest due on an interest payment date that is on or prior to the
redemption date.

     (6) Mandatory Redemption.

     The Company is not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

A-3

 

     (7) Repurchase at the Option of Holder.

          (a) If a Change of Control occurs, each Holder will have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in
excess thereof) of that Holder’s Notes pursuant to the offer described below (the “Change of
Control Offer”) on the terms set forth in the Indenture. Pursuant to such offer, the
Company will offer a Change of Control Payment in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest (including Special
Interest, if any) on the Notes repurchased to the date of purchase, subject to the rights of
Holders on the relevant record date to receive interest due on an interest payment date that
is on or prior to such date of repurchase (the “Change of Control Payment”). Within 30 days
following any Change of Control, the Company will mail a notice to each Holder setting forth
the procedures governing the Change of Control Offer as required by the Indenture.

          (b) In the event that Holders of not less than 90% of the aggregate principal amount of
the outstanding Notes accept a Change of Control Offer and the Company purchases all of the
Notes held by such Holders, the Company will have the right, in accordance with Section
3.07(d) of the Indenture, upon not less than 30 nor more than 60 days’ prior notice, given
not more than 30 days following the purchase pursuant to the Change of Control Offer
described in Section 4.15 (a) of the Indenture, to redeem all of the Notes that remain
outstanding following such purchase at a redemption price equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest (including Special
Interest, if any) on the Notes that remain outstanding to the date of redemption, subject to
the right of the Holders on the relevant record date to receive interest due on an interest
payment date that is on or prior to the redemption date.

          (c) If the Company or a Restricted Subsidiary of the Company consummates any Asset
Sales, when the aggregate amount of Excess Proceeds exceeds $25.0 million, the Company will
be required to make an offer to all Holders of the Notes and all holders of Pari Passu
Indebtedness containing provisions similar to those set forth in the Indenture with respect
to offers to purchase or redeem with the proceeds of sales of assets (an “Asset Sale
Offer”), to purchase the maximum principal amount of Notes and such Pari Passu Indebtedness
that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer
will be equal to 100% of the principal amount of the Indebtedness to be purchased plus
accrued and unpaid interest and Special Interest, if any, to the date of purchase, subject
to the rights of Holders on the relevant record date to receive interest due on an interest
payment date that is on or prior to the date of purchase, and will be payable in cash, in
accordance with the procedures set forth in the Indenture, in the case of the Notes, or in
the instruments governing the terms of the Pari Passu Indebtedness, in the case of such Pari
Passu Indebtedness; provided, however, that, if the Company is required to apply such Excess
Proceeds to repurchase, or to offer to repurchase, any Pari Passu Indebtedness, the Company
shall only be required to offer to repurchase the maximum principal amount of Notes that may
be purchased out of the amount of such Excess Proceeds multiplied by a fraction, the
numerator of which is the aggregate principal amount of Notes outstanding and the
denominator of which is the aggregate principal amount of Notes outstanding plus the
aggregate principal amount of such Pari Passu Indebtedness outstanding. To the extent that
the aggregate principal amount of Notes tendered pursuant to an Asset Sale Offer is less
than the amount that the Company is required to repurchase, the Company may use the
difference between such amounts for purposes not otherwise prohibited by the Indenture. If
the aggregate principal amount of Notes surrendered by holders thereof exceeds the amount
that the Company is required by Section 4.10 of the Indenture to repurchase, the Trustee
shall select the Notes to be purchased on a pro rata basis. Upon completion of such offer
to purchase, the amount of Excess

A-4

 

Proceeds shall be reset at zero. Holders of Notes that are the subject of an offer to
purchase will receive an Asset Sale Offer from the Company prior to any related purchase
date and may elect to have such Notes purchased by completing the form entitled “Option of
Holder to Elect Purchase” attached to the Notes.

     (8) Notice of Redemption. Notice of redemption will be mailed at least 30
days but not more than 60 days before the redemption date to each Holder whose Notes are to
be redeemed at its registered address, except that redemption notices may be mailed more
than 60 days prior to a redemption date if the notice is issued in connection with a
defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in
denominations larger than $2,000 may be redeemed in part but only in whole multiples of
$1,000, unless all of the Notes held by a Holder are to be redeemed.

     (9) Denominations, Transfer, Exchange. The Notes are in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture. The
Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and the Company may require a Holder to pay any transfer
tax or similar governmental charge payable in connection therewith. The Company need not
exchange or register the transfer of any Note or portion of a Note selected for redemption,
except for the unredeemed portion of any Note being redeemed in part. Also, the Company
need not exchange or register the transfer of any Notes for a period of 15 days before a
mailing of notice of redemption or during the period between a record date and the next
succeeding Interest Payment Date.

     (10) Persons Deemed Owners. The registered Holder of a Note may be treated as
the owner of it for all purposes. Only registered Holders have rights under the Indenture.

     (11) Amendment, Supplement and Waiver. Subject to certain exceptions, the
Indenture, the Notes or the Subsidiary Guarantees may be amended or supplemented with the
consent of the Holders of at least a majority in aggregate principal amount of the then
outstanding Notes including Additional Notes, if any, voting as a single class, and any
existing Default of Event or Default or compliance with any provision of the Indenture, the
Notes or the Subsidiary Guarantees may be waived with the consent of the Holders of a
majority in aggregate principal amount of the then outstanding Notes including Additional
Notes, if any, voting as a single class. Without the consent of any Holder of Notes, the
Indenture, the Notes or the Subsidiary Guarantees may be amended or supplemented to cure any
ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition to or in
place of certificated Notes, to provide for the assumption of the Company’s or a Guarantor’s
obligations to Holders of the Notes and Subsidiary Guarantees by a successor to the Company
or such Guarantor pursuant to the Indenture, to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not adversely affect
the legal rights under the Indenture of any Holder, to secure the Notes or the Subsidiary
Guarantees pursuant to the requirements of the Indenture, to add any Guarantor to or release
any Guarantor from its Subsidiary Guarantee (in each case as provided in the Indenture), to
conform the text of the Indenture or the Notes to any provision of the “Description of
Notes” section of the Company’s Offering Memorandum dated June 5, 2009, relating to the
initial offering of the Notes, to the extent that such provision in that “Description of
Notes” was intended to be a verbatim recitation of a provision of the Indenture, Subsidiary
Guarantees or the Notes, to provide for the issuance of Additional Notes or a successor
Trustee in respect of the Notes in accordance with the provisions of the Indenture, or to
comply with the requirements of the SEC in order to effect or maintain the qualification of
the Indenture under the TIA.

A-5

 

     (12) Defaults and Remedies. Events of Default include: (i) default for 30
days in the payment when due of interest and Special Interest, if any, on the Notes; (ii)
default in the payment when due of the principal of, premium on, if any, the Notes, (iii)
failure by the Company or any of its Restricted Subsidiaries to comply with the provisions
of Section 5.01 of the Indenture or to consummate the purchase of Notes when required
pursuant to Section 4.10 or 4.15 of the Indenture; (iv) failure by the Company for 90 days
after notice to the Company by the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding voting as a single class to comply with the
provisions of Section 4.03 of the Indenture, (v) failure by the Company or any of its
Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at
least 25% in aggregate principal amount of the Notes then outstanding to comply with any of
the other covenants applicable to the Company or its Subsidiaries in the Indenture or the
Notes; (vi) default under certain other agreements relating to Indebtedness of the Company
which default is caused by failure to make a payment prior to the expiration of any
applicable grace period or results in the acceleration of such Indebtedness prior to its
express maturity; (vii) certain final judgments for the payment of money that remain
undischarged for a period of 60 consecutive days; (viii) certain events of bankruptcy or
insolvency with respect to the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would
constitute a Significant Subsidiary; and (ix) except as permitted by the Indenture, any
Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect or any Guarantor or any Person acting
on its behalf denies or disaffirms its obligations under such Guarantor’s Subsidiary
Guarantee. If any Event of Default occurs and is continuing, the Trustee or the Holders of
at least 25% in aggregate principal amount of the then outstanding Notes may declare all the
Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an
Event of Default arising from certain events of bankruptcy or insolvency, all outstanding
Notes will become due and payable immediately without further action or notice. Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. Subject to
certain limitations, Holders of a majority in aggregate principal amount of the then
outstanding Notes may direct the time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee or exercising any trust or power conferred on
it. The Trustee may withhold from Holders of the Notes notice of any continuing Default or
Event of Default (except a Default or Event of Default relating to the payment of principal,
premium, if any, interest or Special Interest, if any) if it determines that withholding
notice is in their interest. The Holders of a majority in aggregate principal amount of the
Notes then outstanding by written notice to the Company and the Trustee may, on behalf of
the Holders of all of the Notes, rescind an acceleration or waive any continuing Default and
its consequences under the Indenture except a continuing Default in the payment of principal
of, premium on, if any, interest or Special Interest, if any, on, the Notes or in respect of
a provision of the Indenture that cannot be modified or amended without the consent of each
Holder. The Company is required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Company is required, upon becoming aware of any
Default or Event of Default, to deliver to the Trustee a statement specifying such Default
or Event of Default.

     (13) Trustee Dealings with Company. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the
Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if
it were not the Trustee.

     (14) No Recourse Against Others. No director, officer, employee, incorporator
or owner of an Equity Interest of the Company or any Guarantor, as such, will have any
liability for any obligations of the Company or the Guarantors under the Notes, the
Indenture or the

A-6

 

Subsidiary Guarantees or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder of Notes by accepting a Note waives and releases
all such liability.

     (15) Authentication. This Note will not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent.

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

     (17) Additional Rights of Holders of Restricted Global Notes and Restricted
Definitive Notes. In addition to the rights provided to Holders of Notes under the
Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all
the rights set forth in the Registration Rights Agreement dated as of June 10, 2009, among
the Company,the Guarantors and the other parties named on the signature pages thereof or, in
the case of Additional Notes, Holders of Restricted Global Notes and Restricted Definitive
Notes will have the rights set forth in one or more registration rights agreements, if any,
among the Company, the Guarantors and the other parties thereto, relating to rights given by
the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the
“Registration Rights Agreement”).

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

     (19) GOVERNING LAW. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED
TO CONSTRUE THE INDENTURE, THIS NOTE AND THE SUBSIDIARY GUARANTEES.

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to:

Holly Corporation

100 Crescent Court, Suite 1600

Dallas, Texas 75201

Attention: General Counsel

A-7

 

Assignment Form

     To assign this Note, fill in the form below:

	 	 	 
	(I) or (we) assign and transfer this Note to:
	 	 
	 

	 	 

(Insert assignee’s legal name)

 

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

 

 

 

 

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

	 	 	 
	and irrevocably appoint
	 	 
	 

	 	 
	to transfer this Note on the books of the Company. The agent may substitute another to act for
him.

Date:                                         

	 	 	 	 	 
	 

	 	Your Signature:	 	 
	 

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

Signature Guarantee*:                                         

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-8

 

Option of Holder to Elect Purchase

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or
4.15 of the Indenture, check the appropriate box below:

	 	 	 
	o Section 4.10
	 	o Section 4.15

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased:

$                    

Date:                                         

	 	 	 	 	 
	 

	 	Your Signature:	 	 
	 

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

	 	Tax Identification No.:	 	 
	 

	 	 	 	 

Signature Guarantee*:                                         

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-9

 

Schedule of Exchanges of Interests in the Global Note *

     The following exchanges of a part of this Global Note for an interest in another Global Note
or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an
interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount	 	 
	 	 	Amount of decrease	 	Amount of increase	 	of this Global Note	 	Signature of
	 	 	in Principal Amount	 	in Principal Amount	 	following such	 	authorized officer
	 	 	of	 	of	 	decrease	 	of Trustee or
	Date of Exchange	 	this Global Note	 	this Global Note	 	(or increase)	 	Custodian
	 	 	 	 	 	 	 	 	 

 

			
	*	 	This schedule should be included only if the Note is issued in global form.

A-10

 

EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

Holly Corporation

100 Crescent Court, Suite 1600

Dallas, Texas 75201

U.S. Bank Trust National Association

950 17th Street, 12th Floor

Denver, Colorado 80202

Attention: Corporate Trust Administration

     Re: 9.875% Senior Notes due 2017

     Reference is hereby made to the Indenture, dated as of June 10, 2009 (the “Indenture”), among
Holly Corporation, a Delaware corporation, as issuer (the “Company”), the Guarantors party thereto
and U.S. Bank Trust National Association, as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

                         , (the “Transferor”) owns and proposes to transfer the Note[s] or interest
in such Note[s] specified in Annex A hereto, in the principal amount of $                     in such
Note[s] or interests (the “Transfer”), to                                          (the “Transferee”), as
further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

[CHECK ALL THAT APPLY]

     1. o Check if Transferee will take delivery of a beneficial interest in the 144A
Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being
effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

     2. o Check if Transferee will take delivery of a beneficial interest in the
Regulation S Global Note or a Restricted Definitive Note pursuant to Regulation S. The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is
not being made to a Person in the United States and (x) at the time the buy order was originated,
the Transferee was outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United States or (y) the
transaction was executed in, on or through the facilities of a designated offshore securities
market and neither such Transferor nor any Person acting on its behalf knows that the transaction
was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made
in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the
Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the
expiration of

B-1

 

the Restricted Period, the transfer is not being made to a U.S. Person or for the account or
benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement
Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the
Indenture and the Securities Act.

     3. o Check and complete if Transferee will take delivery of a beneficial interest
in the IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with
the transfer restrictions applicable to beneficial interests in Restricted Global Notes and
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any
applicable blue sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one):

     (a) o such Transfer is being effected pursuant to and in accordance with Rule
144 under the Securities Act;

or

     (b) o such Transfer is being effected to the Company or a subsidiary thereof;

or

     

     (c) o such Transfer is being effected pursuant to an effective registration
statement under the Securities Act and in compliance with the prospectus delivery
requirements of the Securities Act;

or

     (d) o such Transfer is being effected to an Institutional Accredited Investor
and pursuant to an exemption from the registration requirements of the Securities Act
other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further
certifies that it has not engaged in any general solicitation within the meaning of
Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Note or Restricted
Definitive Notes and the requirements of the exemption claimed, which certification is
supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the
Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a
copy of which the Transferor has attached to this certification), to the effect that such
Transfer is in compliance with the Securities Act. Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the IAI Global Note and/or the Restricted
Definitive Notes and in the Indenture and the Securities Act.

     4. o Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note.

     (a) o Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any
state of the United States and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of

B-2

 

the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted
Definitive Notes and in the Indenture.

     (b) o Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained
in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject
to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

     (c) o Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
effected pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or
Restricted Definitive Notes and in the Indenture.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 	 	 
	 

	 	 	 	[Insert Name of Transferor]
	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

          Dated:                                         

B-3

 

ANNEX A TO CERTIFICATE OF TRANSFER

     1. The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

          (a) o a beneficial interest in the:

	 	(i)	 	o 144A Global Note (CUSIP                     ), or
	 
	 	(ii)	 	o Regulation S Global Note (CUSIP                     ), or
	 
	 	(iii)	 	o IAI Global Note (CUSIP                     ); or

          (b) o a Restricted Definitive Note.

     2. After the Transfer the Transferee will hold:

[CHECK ONE]

          (a) o a beneficial interest in the:

          (i) o 144A Global Note (CUSIP                     ), or

	 	(ii)	 	o Regulation S Global Note (CUSIP                     ), or
	 
	 	(iii)	 	o IAI Global Note (CUSIP                     ); or
	 
	 	(iv)	 	o Unrestricted Global Note (CUSIP                     ); or

          (b) o a Restricted Definitive Note; or

          (c) o an Unrestricted Definitive Note,

          in accordance with the terms of the Indenture.

B-4

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

Holly Corporation

100 Crescent Court, Suite 1600

Dallas, Texas 75201

U.S. Bank Trust National Association

950 17th Street, 12th Floor

Denver, Colorado 80202

Attention: Corporate Trust Administration

     Re: 9.875% Senior Notes due 2017

(CUSIP                     )

     Reference is hereby made to the Indenture, dated as of June 10, 2009 (the “Indenture”), among
Holly Corporation, a Delaware corporation, as issuer (the “Company”), the Guarantors party thereto
and U.S. Bank Trust National Association, as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

                         , (the “Owner”) owns and proposes to exchange the Note[s] or
interest in such Note[s] specified herein, in the principal amount of $                     in such Note[s]
or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

     1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global
Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note

     (a) o Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global
Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in
accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the beneficial interest
in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States.

     (b) o Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest
in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance
with any applicable blue sky securities laws of any state of the United States.

     (c) o Check if Exchange is from Restricted Definitive Note to beneficial interest in an
Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note
for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is

C-1

 

being acquired for the Owner’s own account without transfer, (ii) such Exchange has been
effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained
in the Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States.

     (d) o Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted
Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States.

     2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global
Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes

     (a) o Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in
a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner
hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and
in the Indenture and the Securities Act.

     (b) o Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note
for a beneficial interest in the [CHECK ONE] o 144A Global Note, o Regulation S Global
Note, o IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such
Exchange has been effected in compliance with the transfer restrictions applicable to the
Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act.

     This certificate and the statements contained herein are made for your benefit and the benefit
of the Company.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	[Insert Name of Transferor]
	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

Dated:                                         

C-2

 

EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

Holly Corporation

100 Crescent Court, Suite 1600

Dallas, Texas 75201

U.S. Bank Trust National Association

950 17th Street, 12th Floor

Denver, Colorado 80202

Attention: Corporate Trust Administration

     Re: 9.875% Senior Notes due 2017

     Reference is hereby made to the Indenture, dated as of June 10, 2009 (the “Indenture”), among
Holly Corporation, a Delaware corporation, as issuer (the “Company”), the guarantors party thereto
and U.S. Bank Trust National Association, as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

     In connection with our proposed purchase of $                     aggregate principal amount of:

     (a)  a beneficial interest in a Global Note, or

     (b) 
a Definitive Note,

     we confirm that:

     1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended
(the “Securities Act”).

     2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in accordance with
Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C)
to an institutional “accredited investor” (as defined below) that, prior to such transfer,
furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a
signed letter substantially in the form of this letter and an Opinion of Counsel in form reasonably
acceptable to the Company to the effect that such transfer is in compliance with the Securities
Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the Securities
Act, (E) pursuant to the provisions of Rule 144(k) under the Securities Act or (F) pursuant to an
effective registration statement under the Securities Act, and we further agree to provide to any
Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a
transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising
such purchaser that resales thereof are restricted as stated herein.

     3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we
will be required to furnish to you and the Company such certifications, legal opinions and other
information as you and the Company may reasonably require to confirm that the proposed sale
complies

D-1

 

with the foregoing restrictions. We further understand that the Notes purchased by us will
bear a legend to the foregoing effect.

     4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

     5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

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

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	        [Insert Name of Accredited Investor]
	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

Dated:                                         

D-2

 

EXHIBIT E

FORM OF NOTATION OF GUARANTEE

     For value received, each Guarantor (which term includes any successor Person under the
Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture dated as of June 10, 2009 (the
“Indenture”) among Holly Corporation, a Delaware corporation (the “Company”), the Guarantors party
thereto and U.S. Bank Trust National Association, as trustee (the “Trustee”), (a) the due and
punctual payment of the principal of, premium on, if any, interest and Special Interest, if any,
on, the Notes, whether at stated maturity, by acceleration, redemption or otherwise, the due and
punctual payment of interest on overdue principal of, premium on, if any, interest and Special
Interest, if any, on, the Notes, if any, if lawful, and the due and punctual performance of all
other obligations of the Company to the Holders or the Trustee all in accordance with the terms of
the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or any of
such other obligations, that the same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration
or otherwise. The obligations of the Guarantors to the Holders of Notes and to the Trustee
pursuant to the Subsidiary Guarantee and the Indenture are expressly set forth in Article 10 of the
Indenture and reference is hereby made to the Indenture for the precise terms of the Subsidiary
Guarantee.

     Capitalized terms used but not defined herein have the meanings given to them in the
Indenture.

	 	 	 	 	 
	 	 	[Name of Guarantor(s)]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

E-1

 

EXHIBIT F

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

     Supplemental Indenture (this “Supplemental Indenture”), dated as of                     ,
200___, among                      (the “Guaranteeing Subsidiary”), a subsidiary of Holly Corporation
(or its permitted successor), a Delaware corporation (the “Company”), the Company, the other
Guarantors (as defined in the Indenture referred to herein) and U.S. Bank Trust National
Association, as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

     WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the
“Indenture”), dated as of June 10, 2009 providing for the issuance of 9.875% Senior Notes due 2017
(the “Notes”);

     WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the
Notes and the Indenture on the terms and conditions set forth herein (the “Subsidiary Guarantee”);
and

     WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes
as follows:

     1. Capitalized Terms. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.

     2. Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees to provide an
unconditional guarantee on the terms and subject to the conditions set forth in the Subsidiary
Guarantee and in the Indenture including but not limited to Article 10 thereof.

     4. No Recourse Against Others. No director, officer, employee, incorporator or owner
of an Equity Interest of the Company or any Guarantor, as such, will have any liability for any
obligations of the Company or the Guarantors under the Notes, this Indenture or the Subsidiary
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Notes.

     5. NEW YORK LAW TO GOVERN. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS SUPPLEMENTAL INDENTURE.

     6. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

     7. Effect of Headings. The Section headings herein are for convenience only and
shall not affect the construction hereof.

F-1

 

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

F-2

 

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

     Dated:                     , 20___

	 	 	 	 	 
	 	 	[Guaranteeing Subsidiary]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	[Company]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	[Existing Guarantors]
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	[Trustee],
	 	 	   as Trustee
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory

F-3

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