Document:

exv10w16

EXHIBIT 10.16

FORM OF

2006 LONG-TERM INCENTIVE PLAN

PERFORMANCE BASED CASH AWARD AGREEMENT

     Penford Corporation (the “Company”), on [date] (the “Grant Date”), granted to you the
opportunity to earn an Award pursuant to the terms of the Company’s 2006 Long-Term Incentive Plan
(the “Plan”). The Award is subject to all the terms and conditions set forth in this Award
Agreement (the “Award Agreement”) and in the Plan, which is attached to and incorporated into this
Award Agreement in its entirety.

     1. Definitions.

          (a) “Earning Period” means the period from [dates].

          (b) “Performance Period” means the period from [dates].

          (c) “Performance Period Cash Flow/EBITDA” means the Company’s cash flow calculated as earnings
before interest, taxes, depreciation and amortization, for the fiscal year of the Company ending
[date] (the “Performance Period Cash Flow/EBITDA”), all as confirmed by the Committee based on
information presented by the Chief Financial Officer of the Company; provided, however, that
Performance Period Cash Flow/EBITDA shall be calculated without regard to the following: changes
in accounting principles (i.e, cumulative effect of GAAP changes); extraordinary items as defined
in accordance with US GAAP or which are the result of a change in the law or the Company’s response
thereto; income/loss from discontinued operations and income/loss on sale of discontinued
operations; non-recurring operating income/expenses (separately stated and disclosed in the
financial statements — e.g., restructuring charges, legal settlement charges, goodwill write-off);
and impairment of intangibles.

          (d) Unless otherwise noted, all other terms used herein that are defined in the Plan have the
same meaning given them in the Plan.

     2. Award Amount. The amount of the Award (the “Award Amount”) will be calculated
pursuant to the amount shown in column (b) below in accordance with this Section 2, based on
satisfaction of the criteria set forth in column (a) below:

	 	 	 	 	 
	 	 	(a)	 	 
	 	 	Performance Period	 	(b)
	Achievement Level	 	Cash Flow/EBITDA	 	Award
	Maximum

	 	$ [                    ]	 	$ [                    ]
	Target

	 	$ [                    ]	 	$ [                    ]
	Threshold

	 	$ [                    ]	 	$ [                    ]

     The Award Amount for achievement levels between the Target and Maximum achievement shall be
interpolated on a straight line basis (rounded up to the nearest integer) and the Award Amount for
achievement levels between the Threshold and Target achievement shall be interpolated on a straight
line basis (rounded up to the nearest integer). No Award Amount will be paid if Performance Period
Cash Flow/EBITDA is less than the Threshold achievement level and no increase to the Award Amount
will be made for Performance Period Cash Flow/EBITDA in excess of the Maximum achievement level.

 

 

     The Award Amount will vest on [date] if your employment or service with the Company and its
Subsidiaries has not terminated during the Earning Period. The Award Amount will be paid within
ninety days after it vests, with the timing of the payment within such ninety days determined by
the Committee. Subject to Section 4 Forfeiture and except as provided in Section 3
Death or Disability and 5 Change in Control below, the Award Amount, provided you
were employed by or providing services to the Company or Subsidiary throughout the Earning Period,
will be paid no later than [date].

     3. Death or Disability. If after the Performance Period but prior to the end of the
Earning Period, you either die while in the employ or service of the Company or a Subsidiary or
have your employment or service with the Company terminated because of a Disability within the
Earning Period, your Award Amount as calculated pursuant to Section 2 Award Amount shall
become vested and be paid to you or your estate within ninety days (such timing of payment within
the ninety days determined in the sole discretion of the Committee) after your death or termination
of employment or service with the Company or any Subsidiary because of Disability.

     4. Forfeiture. Your right to receive an Award Amount is forfeited if your employment
or service with the Company and its Subsidiaries terminates during the Earning Period for any
reason other than on account your death or incurring a Disability as set forth in Section 3
Death or Disability or prior to your vesting in the Award Amount as set forth in Section 5
Change in Control below.

     5. Change in Control. Notwithstanding any other provision of this Award Agreement,
your right to receive the Award Amount shall become vested and paid immediately prior to a Change
in Control (as defined in your Change of Control Agreement with the Company dated as of [date], as amended from time to time (the “Change in Control Agreement”)) (the “Change in Control”)
if you were employed by the Company immediately prior to the Change in Control and such Change in
Control occurs after both the Performance Period and the determination by the Committee of the
Award Amount based on the Performance Period. In addition, if you are employed by the Company
immediately prior to the Change in Control and such Change in Control occurs before either the end
of the Performance Period or the determination by the Committee of the Award Amount based on the
Performance Period, the Award Amount shall be treated as the Maximum Award Amount to which you
could have been entitled under this Award Agreement if the Maximum Performance Period Cash
Flow/EBITDA was achieved during the Performance Period and your right to such Maximum Award Amount
shall be vested and paid immediately prior to a Change in Control.

     6. 409A Compliance. This Award is intended to be exempt from the requirements of
Section 409A of the Code by reason of the short-term deferral exemption and the terms of this Award
shall be interpreted, operated and administered in a manner consistent with this intention to the
extent the Company deems necessary to comply with Section 409A of the Code. If the short-term
deferral exemption or any other exemption from Section 409A of the Code is not available, to the
extent Section 409A of the Code is applicable thereto, the terms of this Award shall be
interpreted, operated and administered in a manner consistent with the intention to comply with the
requirements of Section 409A of the Code to the extent the Company deems necessary to comply with
Section 409A of the Code including, without limitation, to the extent necessary to comply with
Section 409A of the Code, limiting the accelerated payout timing in connection with a Change in
Control to situations constituting a change in the ownership or effective control of the Company or
in the ownership of a substantial portion of the assets of the Company within the meaning of
Section 409A of the Code and limiting the accelerated payout timing in connection with a
termination of employment or service because of Disability to

 

 

situations constituting a permissible payment event under Section 409A of the Code.
Notwithstanding any other provision in this Plan, the Company, to the extent it deems necessary or
advisable in its sole discretion, reserves the right, but shall not be required, to unilaterally
amend or modify this Award to reflect the intention that the Award qualifies for exemption from or
complies with Section 409A of the Code in a manner which does not adversely affect you; provided,
however, that neither the Company nor the Committee makes any representation that this Award shall
be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section
409A of the Code from applying to this Award.

     7. Withholding Taxes. You hereby authorize withholding from payroll and any other
amounts payable to you, and otherwise agree to make adequate provision for any sums required to
satisfy federal, state, local or foreign withholding tax obligations that may arise in connection
with the Award.

     8. Successors and Assigns. The provisions of this Award Agreement will inure to the
benefit of, and be binding on, the Company and its successors and assigns and you and your legal
representatives, heirs, legatees, distributees, assigns and transferees by operation of law,
whether or not any such person will have become a party to this Award Agreement and agreed in
writing to join herein and be bound by the terms and conditions hereof.

     9. No Employment or Service Contract. Nothing in this Award Agreement will affect in
any manner whatsoever the right or power of the Company or any Subsidiary of the Company, to
terminate your employment or services on behalf of the Company or any Subsidiary of the Company,
for any reason, with or without Cause.

     10. Employment and Service. In determining cessation of employment or service,
transfers between the Company and/or any Subsidiary shall be disregarded, and changes in status
between that of an Employee and Director shall be disregarded.

     11. Unfunded Award. Nothing in this Award shall create or be deemed to create a trust
or separate fund of any kind or a fiduciary relationship between the Company or any Subsidiary and
you.

     12. Governing Plan Document. The Award is subject to all the provisions of the Plan,
the provisions of which are hereby made a part of your Award, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of the Award and
those of the Plan, the provisions of the Plan shall control.

     13. Employee Data Privacy. By entering into this Award Agreement, you (a) authorize
the Company and any agent of the Company administering the Plan or providing Plan recordkeeping
services, to disclose to the Company or any of its affiliates any information and data the Company
requests in order to facilitate the Award and the administration of the Plan; (b) waive any data
privacy rights you may have with respect to such information; and (c) authorize the Company and its
agents to store and transmit such information in electronic form.

     14. Governing Law. To the extent not otherwise governed by the laws of the United
States, this Award Agreement will be construed and administered in accordance with and governed by
the laws of the State of Washington.

 

 

     15. Counterparts. This Award Agreement may be executed in two or more counterparts,
each of which will be deemed an original, but which, upon execution, will constitute one and the
same instrument.

     Additional Terms/Acknowledgement. You acknowledge receipt of, and understand and
agree to, this Award Agreement and the Plan. You further acknowledge that as of the Grant Date,
this Award Agreement and the Plan set forth the entire understanding between you and the Company
regarding the Award and supersede all prior oral and written agreements on the subject and that the
Award Amount shall not be treated as a “Target Bonus” under your Change in Control Agreement.

	 	 	 	 	 
	PENFORD CORPORATION	 	[Executive Name]
 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	By:
	 	 	 	 
	 	 	 	 	 
	 	 	Title:

	 	 
	 

	 	 

	 	 

Attachment:

2006 Long-Term Incentive Planexv4w4

Exhibit 4.4

[Form of Senior Indenture]

 

 

EXTERRAN PARTNERS, L.P.

and

[                                        ],

as Trustee

INDENTURE

Dated as of                     

Debt Securities

 

 

 

 

CROSS-REFERENCE TABLE

	 	 	 	 	 	 	 	 	 
	TIA Section	 	Indenture Section	 
	 	310	 	 	(a)
	 	 	7.10	 
	 	 	 	 	(b)
	 	 	7.10	 
	 	 	 	 	(c)
	 	 	N.A.	 
	 	311	 	 	(a)
	 	 	7.11	 
	 	 	 	 	(b)
	 	 	7.11	 
	 	 	 	 	(c)
	 	 	N.A.	 
	 	312	 	 	(a)
	 	 	5.01	 
	 	 	 	 	(b)
	 	 	5.02	 
	 	 	 	 	(c)
	 	 	5.02	 
	 	313	 	 	(a)
	 	 	5.03	 
	 	 	 	 	(b)
	 	 	5.03	 
	 	 	 	 	(c)
	 	 	13.03	 
	 	 	 	 	(d)
	 	 	5.03	 
	 	314	 	 	(a)
	 	 	4.05	 
	 	 	 	 	(b)
	 	 	N.A.	 
	 	 	 	 	(c)(1)
	 	 	13.05	 
	 	 	 	 	(c)(2)
	 	 	13.05	 
	 	 	 	 	(c)(3)
	 	 	N.A.	 
	 	 	 	 	(d)
	 	 	N.A.	 
	 	 	 	 	(e)
	 	 	13.05	 
	 	 	 	 	(f)
	 	 	N.A.	 
	 	315	 	 	(a)
	 	 	7.01	 
	 	 	 	 	(b)
	 	 	6.07 & 13.03	 
	 	 	 	 	(c)
	 	 	7.01	 
	 	 	 	 	(d)
	 	 	7.01	 
	 	 	 	 	(e)
	 	 	6.08	 
	 	316	 	 	(a) (last sentence)
	 	 	1.01	 
	 	 	 	 	(a)(1)(A)
	 	 	6.06	 
	 	 	 	 	(a)(1)(B)
	 	 	6.06	 
	 	 	 	 	(a)(2)
	 	 	9.01(d)	 
	 	 	 	 	(b)
	 	 	6.04	 
	 	 	 	 	(c)
	 	 	5.04	 
	 	317	 	 	(a)(1)
	 	 	6.02	 
	 	 	 	 	(a)(2)
	 	 	6.02	 
	 	 	 	 	(b)
	 	 	4.04	 
	 	318	 	 	(a)
	 	 	13.07	 

N.A. means Not Applicable

NOTE: This Cross-Reference table shall not, for any purpose, be deemed part of this Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

	 	 	 
	 	 	 	 
	Section 1.01	 	Definitions
	 	 	1	 
	Section 1.02	 	Other Definitions
	 	 	6	 
	Section 1.03	 	Incorporation by Reference of Trust Indenture Act
	 	 	6	 
	Section 1.04	 	Rules of Construction
	 	 	6	 
	 	 	 
	 	 	 	 
	ARTICLE II

DEBT SECURITIES

	 	 	 
	 	 	 	 
	Section 2.01	 	Forms Generally
	 	 	7	 
	Section 2.02	 	Form of Trustee’s Certificate of Authentication
	 	 	7	 
	Section 2.03	 	Principal Amount; Issuable in Series
	 	 	7	 
	Section 2.04	 	Execution of Debt Securities
	 	 	10	 
	Section 2.05	 	Authentication and Delivery of Debt Securities
	 	 	10	 
	Section 2.06	 	Denomination of Debt Securities
	 	 	12	 
	Section 2.07	 	Registration of Transfer and Exchange
	 	 	12	 
	Section 2.08	 	Temporary Debt Securities
	 	 	13	 
	Section 2.09	 	Mutilated, Destroyed, Lost or Stolen Debt Securities
	 	 	14	 
	Section 2.10	 	Cancellation of Surrendered Debt Securities
	 	 	14	 
	Section 2.11	 	Provisions of the Indenture and Debt Securities for the Sole Benefit of the Parties and the Holders
	 	 	15	 
	Section 2.12	 	Payment of Interest; Interest Rights Preserved
	 	 	15	 
	Section 2.13	 	Securities Denominated in Dollars
	 	 	15	 
	Section 2.14	 	Wire Transfers
	 	 	15	 
	Section 2.15	 	Securities Issuable in the Form of a Global Security
	 	 	16	 
	Section 2.16	 	Medium Term Securities
	 	 	18	 
	Section 2.17	 	Defaulted Interest
	 	 	19	 
	Section 2.18	 	CUSIP and ISIN Numbers
	 	 	20	 
	 	 	 
	 	 	 	 
	ARTICLE III

REDEMPTION OF DEBT SECURITIES

	 	 	 
	 	 	 	 
	Section 3.01	 	Applicability of Article
	 	 	20	 
	Section 3.02	 	Notice of Redemption; Selection of Debt Securities
	 	 	20	 
	Section 3.03	 	Payment of Debt Securities Called for Redemption
	 	 	21	 
	Section 3.04	 	Mandatory and Optional Sinking Funds
	 	 	22	 
	Section 3.05	 	Redemption of Debt Securities for Sinking Fund
	 	 	22	 

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 	 	 
	 	 	 	 
	ARTICLE IV

PARTICULAR COVENANTS OF THE ISSUER

	 
	Section 4.01	 	Payment of Principal of, and Premium, If Any, and Interest on, Debt Securities
	 	 	24	 
	Section 4.02	 	Maintenance of Offices or Agencies for Registration of Transfer, Exchange and Payment of Debt Securities
	 	 	24	 
	Section 4.03	 	Appointment to Fill a Vacancy in the Office of Trustee
	 	 	25	 
	Section 4.04	 	Duties of
Paying Agents, etc.
	 	 	25	 
	Section 4.05	 	SEC Reports; Financial Statements
	 	 	26	 
	Section 4.06	 	Compliance Certificate
	 	 	26	 
	Section 4.07	 	Further Instruments and Acts
	 	 	27	 
	Section 4.08	 	Existence
	 	 	27	 
	Section 4.09	 	Maintenance of Properties
	 	 	27	 
	Section 4.10	 	Payment of Taxes and Other Claims
	 	 	27	 
	Section 4.11	 	Waiver of Certain Covenants
	 	 	27	 
	 	 	 
	 	 	 	 
	ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

	 	 	 
	 	 	 	 
	Section 5.01	 	Issuer to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information
	 	 	27	 
	Section 5.02	 	Communications to Holders
	 	 	28	 
	Section 5.03	 	Reports by Trustee
	 	 	28	 
	Section 5.04	 	Record Dates for Action by Holders
	 	 	28	 
	 	 	 
	 	 	 	 
	ARTICLE VI

REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

	 	 	 
	 	 	 	 
	Section 6.01	 	Events of Default
	 	 	29	 
	Section 6.02	 	Collection of
Debt by Trustee, etc.
	 	 	31	 
	Section 6.03	 	Application of Moneys Collected by Trustee
	 	 	32	 
	Section 6.04	 	Limitation on Suits by Holders
	 	 	33	 
	Section 6.05	 	Remedies Cumulative; Delay
or Omission in Exercise of Rights Not a Waiver of Default
	 	 	33	 
	Section 6.06	 	Rights of Holders of Majority in Principal Amount of Debt Securities to Direct Trustee and to Waive Default
	 	 	33	 
	Section 6.07	 	Trustee to Give Notice of Events of Defaults Known to It, but May Withhold Such Notice in Certain Circumstances
	 	 	34	 
	Section 6.08	 	Requirement of an Undertaking to Pay Costs in Certain Suits under the Indenture or Against the Trustee
	 	 	34	 
	 	 	 
	 	 	 	 
	ARTICLE VII

CONCERNING THE TRUSTEE

	 	 	 
	 	 	 	 
	Section 7.01	 	Certain Duties and Responsibilities
	 	 	35	 
	Section 7.02	 	Certain Rights of Trustee
	 	 	36	 

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	 	 	 	 	Page	 
	 
	Section 7.03	 	Trustee Not Liable for Recitals in Indenture or in Debt Securities
	 	 	37	 
	Section 7.04	 	Trustee, Paying Agent or Registrar May Own Debt Securities
	 	 	37	 
	Section 7.05	 	Moneys Received by Trustee to Be Held in Trust
	 	 	37	 
	Section 7.06	 	Compensation and Reimbursement
	 	 	38	 
	Section 7.07	 	Right of Trustee to Rely on an Officers’ Certificate Where No Other Evidence Specifically Prescribed
	 	 	38	 
	Section 7.08	 	Separate Trustee; Replacement of Trustee
	 	 	38	 
	Section 7.09	 	Successor Trustee by Merger
	 	 	40	 
	Section 7.10	 	Eligibility; Disqualification
	 	 	40	 
	Section 7.11	 	Preferential Collection of Claims Against Issuer
	 	 	40	 
	Section 7.12	 	Compliance with Tax Laws
	 	 	40	 
	 	 	 
	 	 	 	 
	ARTICLE VIII

CONCERNING THE HOLDERS

	 	 	 
	 	 	 	 
	Section 8.01	 	Evidence of Action by Holders
	 	 	40	 
	Section 8.02	 	Proof of Execution of Instruments and of Holding of Debt Securities
	 	 	41	 
	Section 8.03	 	Who May Be Deemed Owner of Debt Securities
	 	 	41	 
	Section 8.04	 	Instruments Executed by Holders Bind Future Holders
	 	 	41	 
	 	 	 
	 	 	 	 
	ARTICLE IX

SUPPLEMENTAL INDENTURES

	 	 	 
	 	 	 	 
	Section 9.01	 	Purposes for Which Supplemental Indenture May Be Entered into Without Consent of Holders
	 	 	42	 
	Section 9.02	 	Modification of Indenture with Consent of Holders of Debt Securities
	 	 	43	 
	Section 9.03	 	Effect of Supplemental Indentures
	 	 	44	 
	Section 9.04	 	Debt Securities May Bear Notation of Changes by Supplemental Indentures
	 	 	45	 
	 	 	 
	 	 	 	 
	ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

	 	 	 
	 	 	 	 
	Section 10.01	 	Consolidations and Mergers of the Issuer
	 	 	45	 
	Section 10.02	 	Rights and Duties of Successor Company
	 	 	45	 
	 	 	 
	 	 	 	 
	ARTICLE XI

SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

	 	 	 
	 	 	 	 
	Section 11.01	 	Applicability of Article
	 	 	46	 
	Section 11.02	 	Satisfaction and Discharge of Indenture; Defeasance
	 	 	46	 
	Section 11.03	 	Conditions of Defeasance
	 	 	47	 
	Section 11.04	 	Application of Trust Money
	 	 	48	 
	Section 11.05	 	Repayment to Issuer
	 	 	48	 
	Section 11.06	 	Indemnity for U.S. Government Obligations
	 	 	48	 
	Section 11.07	 	Reinstatement
	 	 	49	 

-iii-

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	ARTICLE XII

[RESERVED]

	 	 	 
	 	 	 	 
	Section 12.01	 	This Article XII has been intentionally omitted
	 	 	49	 
	 	 	 
	 	 	 	 
	ARTICLE XIII

MISCELLANEOUS PROVISIONS

	 	 	 
	 	 	 	 
	Section 13.01	 	Successors and Assigns of Issuer Bound by Indenture
	 	 	49	 
	Section 13.02	 	Acts of Board, Committee or Officer of Successor Issuer Valid
	 	 	49	 
	Section 13.03	 	Required Notices or Demands
	 	 	49	 
	Section 13.04	 	Indenture and Debt Securities to Be Construed in Accordance with the Laws of the State of New York
	 	 	50	 
	Section 13.05	 	Officers’ Certificate and Opinion of Counsel to Be Furnished upon Application or Demand by the Issuer
	 	 	50	 
	Section 13.06	 	Payments Due on Legal Holidays
	 	 	51	 
	Section 13.07	 	Provisions Required by TIA to Control
	 	 	51	 
	Section 13.08	 	Computation of Interest on Debt Securities
	 	 	51	 
	Section 13.09	 	Rules by Trustee, Paying Agent and Registrar
	 	 	51	 
	Section 13.10	 	No Recourse Against Others
	 	 	51	 
	Section 13.11	 	Severability
	 	 	51	 
	Section 13.12	 	Effect of Headings
	 	 	51	 
	Section 13.13	 	Indenture May Be Executed in Counterparts
	 	 	51	 

-iv-

 

     THIS INDENTURE dated as of                      is between Exterran Partners L.P., a Delaware
limited partnership (the “Issuer”), and [                                        ], a                             
            , as trustee
(the “Trustee”).

RECITALS OF THE ISSUER

     The Issuer has duly authorized the execution and delivery of this Indenture to provide for the
issuance from time to time of the Issuer’s debentures, notes, bonds or other evidences of
indebtedness to be issued in one or more series unlimited as to principal amount (herein called the
“Debt Securities”), as in this Indenture provided.

     All things necessary to make this Indenture a valid agreement of the Issuer in accordance with
its terms have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH

     That in order to declare the terms and conditions upon which the Debt Securities are
authenticated, issued and delivered, and in consideration of the premises, and of the purchase and
acceptance of the Debt Securities by the Holders thereof, the Issuer and the Trustee covenant and
agree with each other, for the benefit of the respective Holders from time to time of the Debt
Securities or any series thereof, as follows:

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.01 Definitions.

     “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. The Trustee may request and may
conclusively rely upon an Officers’ Certificate to determine whether any Person is an Affiliate of
any specified Person.

     “Agent” means any Registrar or paying agent.

     “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 General Partner or any authorized
committee of the Board of Directors of the General Partner or any directors and/or officers of the
General Partner to whom such Board of Directors or such committee shall have duly delegated its
authority to act hereunder. If the Issuer shall change its form of entity to other than a limited
partnership, the references to the Board of Directors of the General Partner shall mean the Board
of Directors (or other comparable governing body) of the Issuer.

-1-

 

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

     “capital stock” of any Person means and includes any and all shares, rights to purchase,
warrants or options (whether or not currently exercisable), participations or other equivalents of
or interests in (however designated) the equity (which includes, but is not limited to, common
stock, preferred stock and partnership and joint venture interests) of such Person (excluding any
debt securities that are convertible into, or exchangeable for, such equity).

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

     “Debt” of any Person at any date means any obligation created or assumed by such Person for
the repayment of borrowed money.

     “Debt Security” or “Debt Securities” has the meaning stated in the first recital of this
Indenture and more particularly means any debt security or debt securities, as the case may be, of
any series authenticated and delivered under this Indenture.

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

     “Depositary” means, unless otherwise specified by the Issuer pursuant to either Section 2.03
or 2.15, with respect to Debt Securities of any series issuable or issued in whole or in part in
the form of one or more Global Securities, The Depository Trust Company, New York, New York, or any
successor thereto registered as a clearing agency under the Exchange Act or other applicable
statute or regulations.

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

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor
statute.

     “Floating Rate Security” means a Debt Security that provides for the payment of interest at a
variable rate determined periodically by reference to an interest rate index specified pursuant to
Section 2.03.

     “GAAP” means generally accepted accounting principles in the United States, as in effect from
time to time.

     “General Partner” means Exterran GP LLC, a Delaware limited liability company, and its
successors and permitted assigns as general partner of Exterran General Partner, L.P., as general
partner of the Issuer or as the business entity with the ultimate authority to manage the business
and operations of the Issuer.

     “Global Security” means with respect to any series of Debt Securities issued hereunder, a Debt
Security which is executed by the Issuer and authenticated and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture

-2-

 

and any indentures supplemental hereto, or resolution of the Board of Directors and set forth
in an Officers’ Certificate, which shall be registered in the name of the Depositary or its nominee
and which shall represent, and shall be denominated in an amount equal to the aggregate principal
amount of, all the Outstanding Debt Securities of such series or any portion thereof, in either
case having the same terms, including, without limitation, the same original issue date, date or
dates on which principal is due and interest rate or method of determining interest.

     “Holder,” “Holder of Debt Securities” or other similar terms means, a Person in whose name a
Debt Security is registered in the Debt Security Register (as defined in Section 2.07(a)).

     “Indenture” means this instrument as originally executed, or, if amended or supplemented as
herein provided, as so amended or supplemented and shall include the form and terms of particular
series of Debt Securities as contemplated hereunder, whether or not a supplemental indenture is
entered into with respect thereto.

     “Issuer” means the Person named as the “Issuer” 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 “Issuer” shall mean such successor Person.

     “Issuer Order” means a written request or order signed on behalf of the Issuer by one of its
Officers and delivered to the Trustee.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City
of Los Angeles, California, City of New York, 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 for the intervening period.

     “Lien” means, with respect to any asset, any mortgage, lien, security interest, pledge, charge
or other encumbrance of any kind in respect of such asset, whether or not filed, recorded or
otherwise perfected under applicable law.

     “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 (or, if
such Person is a limited partnership, the general partner of such Person, except it shall be the
General Partner in the case of the Issuer so long as it is a limited partnership).

     “Officers’ Certificate” means a certificate signed on behalf of the Issuer by any two of its
Officers, one of whom must be the principal executive officer, the principal financial officer or
the principal accounting officer of the Issuer, that meets the requirements of Section 13.05
hereof.

     “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Issuer or the Trustee.

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     “Original Issue Discount Debt Security” means any Debt Security which provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the maturity thereof pursuant to Section 6.01.

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

	 	(a)	 	Debt Securities of that series theretofore canceled by the Trustee or delivered
to the Trustee for cancellation;
	 
	 	(b)	 	Debt Securities of that series for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Trustee or any paying agent
(other than the Issuer) in trust or set aside and segregated in trust by the Issuer (if
the Issuer shall act as its own paying agent) for the Holders of such Debt Securities;
provided, that, if such Debt Securities are to be redeemed, notice of such redemption
has been duly given pursuant to this Indenture or provision therefor satisfactory to
the Trustee has been made; and
	 
	 	(c)	 	Debt Securities of that series which have been paid pursuant to Section 2.09 or
in exchange for or in lieu of which other Debt Securities have been authenticated and
delivered pursuant to this Indenture, other than any such Debt Securities in respect of
which there shall have been presented to the Trustee proof satisfactory to it that such
Debt Securities are held by a protected purchaser in whose hands such Debt Securities
are valid obligations of the Issuer;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Debt Securities of any series have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Debt Securities owned by the Issuer or any other obligor upon
the Debt Securities or any Affiliate of the Issuer or of such other obligor shall be disregarded
and deemed not to be Outstanding, except that, in determining whether the Trustee shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or
waiver, only Debt Securities which a Trust Officer actually knows to be so owned shall be so
disregarded. Debt Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to
act with respect to such Debt Securities and that the pledgee is not the Issuer or any other
obligor upon the Debt Securities or an Affiliate of the Issuer or of such other obligor. In
determining whether the Holders of the requisite principal amount of Outstanding Debt Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of an Original Issue Discount Debt Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable as of
the date of such determination upon a declaration of acceleration of the maturity thereof pursuant
to Section 6.01.

     “Person” means any individual, corporation, partnership, joint venture, limited liability
company, incorporated or unincorporated association, joint-stock company, trust, unincorporated

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organization or government or other agency or political subdivision thereof or other entity of
any kind.

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

     “Reporting Failure” means the failure of the Issuer to file with the Trustee the information,
documents, reports, financial statements or “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” required by Section 4.05.

     “SEC” means the Securities and Exchange Commission.

     “Securities Act” means the Securities Act of 1933, as amended, and any successor statute.

     “Stated Maturity” means, with respect to any security, the date specified in such security as
the fixed date on which the payment of principal of such security is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision providing for the
repurchase of such security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has occurred).

     “Subsidiary” of any Person means:

	 	(1)	 	any corporation, association or other business entity of which more than 50% of
the total voting power of equity interests entitled, without regard to the occurrence
of any contingency, to vote in the election of directors, managers, trustees or
equivalent Persons thereof is at the time of determination owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of such
Person or combination thereof; or
	 
	 	(2)	 	in the case of a partnership, more than 50% of the partners’ equity interests,
considering all partners’ equity interests as a single class, is at such time of
determination owned or controlled, directly or indirectly, by such Person or one or
more of the other Subsidiaries of such Person or combination thereof.

     “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb), as in
effect on the date of this Indenture as originally executed and, to the extent required by law, as
amended.

     “Trustee” initially means [                                        ] and any other Person or Persons appointed as
such from time to time pursuant to Section 7.08, and, subject to the provisions of Article VII,
includes its or their successors and assigns. If at any time there is more than one such Person,
“Trustee” as used with respect to the Debt Securities of any series shall mean the Trustee with
respect to the Debt Securities of that series.

     “Trust Officer” means any officer or assistant officer of the Trustee assigned by the Trustee
to administer its corporate trust matters.

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     “United States” means the United States of America (including the States and the District of
Columbia), its territories, its possessions and other areas subject to its jurisdiction.

     “U.S. Government Obligations” means direct obligations of the United States of America,
obligations on which the payment of principal and interest is fully guaranteed by the United States
of America or obligations or guarantees for the payment of which the full faith and credit of the
United States of America is pledged.

     “Yield to Maturity” means the yield to maturity, calculated at the time of issuance of a
series of Debt Securities, or, if applicable, at the most recent redetermination of interest on
such series and calculated in accordance with accepted financial practice.

     Section 1.02 Other Definitions.

	 	 	 
	Term	 	Defined in Section
	“Debt Security Register”
	 	2.07
	“Defaulted Interest”
	 	2.17
	“Event of Default”
	 	6.01
	“Place of Payment”
	 	2.03
	“Registrar”
	 	2.07
	“Successor Company”
	 	10.01

     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.

     All terms used in this Indenture that are defined by the TIA, defined by TIA reference to
another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

     Section 1.04 Rules of Construction. Unless the context otherwise requires:

          (a) a term has the meaning assigned to it;

          (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with
GAAP;

          (c) “or” is not exclusive;

          (d) words in the singular include the plural, and in the plural include the singular;

          (e) provisions apply to successive events and transactions; and

          (f) the principal amount of any noninterest bearing or other discount security at any date
shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated
such date prepared in accordance with GAAP.

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ARTICLE II

DEBT SECURITIES

     Section 2.01 Forms Generally. The Debt Securities of each series shall be in
substantially the form established without the approval of any Holder by or pursuant to a
resolution of the Board of Directors or in one or more indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as the Issuer may deem appropriate (and, if not
contained in a supplemental indenture entered into in accordance with Article IX, as are not
prohibited by the provisions of this Indenture) or as may be required or appropriate to comply with
any law or with any rules made pursuant thereto or with any rules of any securities exchange on
which such series of Debt Securities may be listed, or to conform to general usage, or as may,
consistently herewith, be determined by the officers executing such Debt Securities as evidenced by
their execution of the Debt Securities.

     The definitive Debt Securities of each series shall be printed, lithographed or engraved on
steel engraved borders or may be produced in any other manner, all as determined by the Officers
executing such Debt Securities, as evidenced by their execution of such Debt Securities.

     Section 2.02 Form of Trustee’s Certificate of Authentication. The Trustee’s
certificate of authentication on all Debt Securities authenticated by the Trustee shall be in
substantially the following form:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 
	 	[                                        ],

As Trustee
 	 
	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     Section 2.03 Principal Amount; Issuable in Series. The aggregate principal amount of
Debt Securities which may be issued, executed, authenticated, delivered and outstanding under this
Indenture is unlimited.

     The Debt Securities may be issued in one or more series in fully registered form. There shall
be established, without the approval of any Holders, in or pursuant to a resolution of the Board of
Directors and set forth in an Officers’ Certificate, or established in one or more indentures
supplemental hereto, prior to the issuance of Debt Securities of any series any or all of the
following:

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          (a) the title of the Debt Securities of the series (which shall distinguish the Debt
Securities of the series from all other Debt Securities);

          (b) any limit upon the aggregate principal amount of the Debt Securities of the series which
may be authenticated and delivered under this Indenture (except for Debt Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt
Securities of the series pursuant to this Article II);

          (c) the date or dates on which the principal of and premium, if any, on the Debt Securities of
the series are payable;

          (d) the rate or rates (which may be fixed or variable) at which the Debt Securities of the
series shall bear interest, if any, or the method of determining such rate or rates, the date or
dates from which such interest shall accrue, the interest payment dates on which such interest
shall be payable, or the method by which such date will be determined, the record dates for the
determination of Holders thereof to whom such interest is payable; and the basis upon which
interest will be calculated if other than that of a 360-day year of twelve thirty-day months;

          (e) the place or places, if any, in addition to or instead of the corporate trust office of
the Trustee, where the principal of, and premium, if any, and interest on, Debt Securities of the
series shall be payable (“Place of Payment”);

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

          (g) the obligation, if any, of the Issuer to redeem, purchase or repay Debt Securities of the
series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof,
and the price or prices at which and the period or periods within which and the terms and
conditions upon which Debt Securities of the series shall be redeemed, purchased or repaid, in
whole or in part, pursuant to such obligations;

          (h) the terms, if any, upon which the Debt Securities of the series may be convertible into or
exchanged for capital stock (which may be represented by depositary shares), other Debt Securities
or warrants for capital stock or Debt or other securities of any kind of the Issuer or any other
obligor and the terms and conditions upon which such conversion or exchange shall be effected,
including the initial conversion or exchange price or rate, the conversion or exchange period and
any other provision in addition to or in lieu of those described herein;

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

          (j) if the amount of principal of or any premium or interest on Debt Securities of the series
may be determined with reference to an index or pursuant to a formula, the manner in which such
amounts will be determined;

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          (k) if the principal amount payable at the Stated Maturity of Debt Securities of the series
will not be determinable as of any one or more dates prior to such Stated Maturity, the amount
which will be deemed to be such principal amount as of any such date for any purpose, including the
principal amount thereof which will be due and payable upon any maturity other than the Stated
Maturity or which will be deemed to be Outstanding as of any such date (or, in any such case, the
manner in which such deemed principal amount is to be determined);

          (l) any changes or additions to Article XI, including the addition of additional covenants
that may be subject to the covenant defeasance option pursuant to Section 11.02(b);

          (m) if other than the principal amount thereof, the portion of the principal amount of Debt
Securities of the series which shall be payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.01 or provable in bankruptcy pursuant to Section 6.02;

          (n) the terms, if any, of the transfer, mortgage, pledge or assignment as security for the
Debt Securities of the series of any properties, assets, moneys, proceeds, securities or other
collateral, including whether certain provisions of the TIA are applicable and any corresponding
changes to provisions of this Indenture as currently in effect;

          (o) any addition to or change in the Events of Default with respect to the Debt Securities of
the series and any change in the right of the Trustee or the Holders to declare the principal of,
and premium and interest on, such Debt Securities due and payable;

          (p) if the Debt Securities of the series shall be issued in whole or in part in the form of a
Global Security or Securities, the terms and conditions, if any, upon which such Global Security or
Securities may be exchanged in whole or in part for other individual Debt Securities in definitive
registered form; and the Depositary for such Global Security or Securities and the form of any
legend or legends to be borne by any such Global Security or Securities in addition to or in lieu
of the legend referred to in Section 2.15(a);

          (q) any trustees, authenticating or paying agents, transfer agents or registrars;

          (r) the applicability of, and any addition to or change in the covenants and definitions
currently set forth in this Indenture or in the terms currently set forth in Article X, including
conditioning any merger, conveyance, transfer or lease permitted by Article X upon the satisfaction
of any Debt coverage standard by the Issuer and Successor Company (as defined in Article X);

          (s) with regard to Debt Securities of the series that do not bear interest, the dates for
certain required reports to the Trustee; and

          (t) any other terms of the Debt Securities of the series (which terms shall not be prohibited
by the provisions of this Indenture).

     All Debt Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such resolution of the

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Board of Directors and as set forth in such Officers’ Certificate or in any such indenture
supplemental hereto.

     Section 2.04 Execution of Debt Securities. The Debt Securities shall be signed on
behalf of the Issuer by at least one of its Officers. Such signatures upon the Debt Securities may
be the manual or facsimile signatures of the present or any future such authorized officers and may
be imprinted or otherwise reproduced on the Debt Securities.

     Only such Debt Securities as shall bear thereon a certificate of authentication substantially
in the form hereinbefore recited, signed manually by the Trustee, shall be entitled to the benefits
of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon
any Debt Security executed on behalf of the Issuer by at least one of its Officers shall be
conclusive evidence that the Debt Security so authenticated has been duly authenticated and
delivered hereunder.

     In case any Officer of the Issuer who shall have signed any of the Debt Securities shall cease
to be such Officer before the Debt Securities so signed shall have been authenticated and delivered
by the Trustee, or disposed of by the Issuer, such Debt Securities nevertheless may be
authenticated and delivered or disposed of as though the Person who signed such Debt Securities had
not ceased to be such Officer; and any Debt Security may be signed on behalf of the Issuer by such
Persons as, at the actual date of the execution of such Debt Security, shall be the proper Officers
of the Issuer, although at the date of such Debt Security or of the execution of this Indenture any
such Person was not such Officer.

     Section 2.05 Authentication and Delivery of Debt Securities. At any time and from
time to time after the execution and delivery of this Indenture, the Issuer may deliver to the
Trustee for authentication Debt Securities of any series executed by the Issuer, and the Trustee
shall thereupon authenticate and deliver said Debt Securities to or upon an Issuer Order. In
authenticating such Debt Securities, and accepting the additional responsibilities under this
Indenture in relation to such Debt Securities, the Trustee shall be entitled to receive, and
(subject to Section 7.01) shall be fully protected in relying upon:

     (a) a copy of any resolution or resolutions of the Board of Directors, certified by the
Secretary or Assistant Secretary of the General Partner, authorizing the terms of issuance of any
series of Debt Securities;

     (b) an executed supplemental indenture, if any;

     (c) an Officers’ Certificate; and

     (d) an Opinion of Counsel prepared in accordance with Section 13.05 which shall also state:

     (i) that the form of such Debt Securities has been established by or pursuant
to a resolution of the Board of Directors or by a supplemental indenture as
permitted by Section 2.01 in conformity with the provisions of this Indenture;

-10-

 

     (ii) that the terms of such Debt Securities have been established by or
pursuant to a resolution of the Board of Directors or by a supplemental indenture as
permitted by Section 2.03 in conformity with the provisions of this Indenture;

     (iii) that such Debt Securities, when authenticated and delivered by the
Trustee and issued by the Issuer in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and legally binding
obligations of the Issuer, enforceable in accordance with their terms except as the
enforceability thereof may be limited by bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally and rights of acceleration
and the availability of equitable remedies may be limited by equitable principles of
general applicability;

     (iv) that the Issuer has the power to issue such Debt Securities and has duly
taken all necessary action with respect to such issuance;

     (v) that the issuance of such Debt Securities will not contravene the
organizational documents of the Issuer or result in any material violation of any of
the terms or provisions of any law or regulation or of any material indenture,
mortgage or other agreement known to such counsel by which the Issuer is bound;

     (vi) that authentication and delivery of such Debt Securities and the execution
and delivery of any supplemental indenture will not violate the terms of this
Indenture; and

     (vii) such other matters as the Trustee may reasonably request.

     Such Opinion of Counsel need express no opinion as to whether a court in the United States
would render a money judgment in a currency other than that of the United States.

     The Trustee shall have the right to decline to authenticate and deliver any Debt Securities
under this Section 2.05 if the Trustee, being advised by counsel, determines that such action may
not lawfully be taken or if the Trustee in good faith by its board of directors or trustees,
executive committee or a trust committee of directors, trustees or Officers (or any combination
thereof) shall determine that such action would expose the Trustee to personal liability to
existing Holders.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Issuer to
authenticate Debt Securities of any series. Unless limited by the terms of such appointment, an
authenticating agent may authenticate Debt Securities 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 any Registrar, paying agent or agent for service of
notices and demands.

     Unless otherwise provided in the form of Debt Security for any series, each Debt Security
shall be dated the date of its authentication.

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     Section 2.06 Denomination of Debt Securities. Unless otherwise provided in the form
of Debt Security for any series, the Debt Securities of each series shall be issuable only as fully
registered Debt Securities in such Dollar denominations as shall be specified or contemplated by
Section 2.03. In the absence of any such specification with respect to the Debt Securities of any
series, the Debt Securities of such series shall be issuable in denominations of $1,000 and any
integral multiple thereof.

     Section 2.07 Registration of Transfer and Exchange.

          (a) The Issuer shall keep or cause to be kept a register for each series of Debt Securities
issued hereunder (hereinafter collectively referred to as the “Debt Security Register”), in which,
subject to such reasonable regulations as it may prescribe, the Issuer shall provide for the
registration of all Debt Securities and the registration of transfer and exchange of Debt
Securities as in this Article II provided. At all reasonable times the Debt Security Register
shall be open for inspection by the Trustee. Subject to Section 2.15, upon due presentment for
registration of transfer of any Debt Security at any office or agency to be maintained by the
Issuer in accordance with the provisions of Section 4.02, the Issuer shall execute and the Trustee
shall authenticate and deliver in the name of the transferee or transferees a new Debt Security or
Debt Securities of authorized denominations for a like aggregate principal amount. In no event may
Debt Securities be issued as, or exchanged for, bearer securities.

     Unless and until otherwise determined by the Issuer by resolutions of the Board of Directors,
the Debt Security Register shall be kept at the corporate trust office of the Trustee referred to
in Section 13.03 and, for this purpose, the Trustee referred to in Section 13.03 shall be
designated “Registrar.”

     Debt Securities of any series (other than a Global Security, except as set forth below) may be
exchanged for a like aggregate principal amount of Debt Securities of the same series of other
authorized denominations. Subject to Section 2.15, Debt Securities to be exchanged shall be
surrendered at the office or agency to be maintained by the Issuer as provided in Section 4.02, and
the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor the
Debt Security or Debt Securities which the Holder making the exchange shall be entitled to receive.

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

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

     No service charge shall be made for any exchange or registration of transfer of Debt
Securities (except as provided by Section 2.09), but the Issuer may require payment of a sum

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sufficient to cover any tax, fee, assessment or other governmental charge that may be imposed
in relation thereto, other than those expressly provided in this Indenture to be made at the
Issuer’s own expense or without expense or without charge to the Holders.

     The Issuer shall not be required to (i) issue, register the transfer of or exchange any Debt
Securities for a period of 15 days next preceding any mailing of notice of redemption of Debt
Securities of such series or (ii) register the transfer of or exchange any Debt Securities
selected, called or being called for redemption; except the portion of any such Debt Security not
so selected or called.

     Prior to the due presentation for registration of transfer of any Debt Security, the Issuer,
the Trustee, any paying agent or any Registrar may deem and treat the Person in whose name a Debt
Security is registered as the absolute owner of such Debt Security for the purpose of receiving
payment of or on account of the principal of, and premium, if any, and (subject to Section 2.12)
interest on, such Debt Security and for all other purposes whatsoever, whether or not such Debt
Security is overdue, and none of the Issuer, the Trustee, any paying agent or any Registrar shall
be affected by notice to the contrary.

     None of the Issuer, the Trustee, any agent of the Trustee, any paying agent or any 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.

     Section 2.08 Temporary Debt Securities. Pending the preparation of definitive Debt
Securities of any series, the Issuer may execute and the Trustee shall authenticate and deliver
temporary Debt Securities (printed, lithographed, photocopied, typewritten or otherwise produced)
of any authorized denomination, and substantially in the form of the definitive Debt Securities in
lieu of which they are issued, in registered form with such omissions, insertions and variations as
may be appropriate for temporary Debt Securities, all as may be determined by the Issuer with the
concurrence of the Trustee. Temporary Debt Securities may contain such reference to any provisions
of this Indenture as may be appropriate. Every temporary Debt Security shall be executed by the
Issuer and be authenticated by the Trustee upon the same conditions and in substantially the same
manner, and with like effect, as the definitive Debt Securities.

     If temporary Debt Securities of any series are issued, the Issuer will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the preparation of
definitive Debt Securities of such series, the temporary Debt Securities of such series shall be
exchangeable for definitive Debt Securities of such series upon surrender of the temporary Debt
Securities of such series at the office or agency of the Issuer at a Place of Payment for such
series, without charge to the Holder thereof, except as provided in Section 2.07 in connection with
a transfer. Upon surrender for cancellation of any one or more temporary Debt Securities of any
series, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Debt Securities of the same series of authorized
denominations and of like tenor. Until so exchanged, temporary Debt Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities
of such series.

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     Upon any exchange of a portion of a temporary Global Security for a definitive Global Security
or for the individual Debt Securities represented thereby pursuant to Section 2.07 or this Section
2.08, the temporary Global Security shall be endorsed by the Trustee to reflect the reduction of
the principal amount evidenced thereby, whereupon the principal amount of such temporary Global
Security shall be reduced for all purposes by the amount to be exchanged and endorsed.

     Section 2.09 Mutilated, Destroyed, Lost or Stolen Debt Securities. If (a) any
mutilated Debt Security is surrendered to the Trustee at its corporate trust office or (b) the
Issuer and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of
any Debt Security, and there is delivered to the Issuer and the Trustee such security or indemnity
as may be required by them to save each of them and any paying agent harmless, and neither the
Issuer nor the Trustee receives notice that such Debt Security has been acquired by a protected
purchaser, then the Issuer shall execute and, upon an Issuer Order, the Trustee shall authenticate
and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Debt
Security, a new Debt Security of the same series of like tenor, form, terms and principal amount,
bearing a number not contemporaneously Outstanding. Upon the issuance of any substituted Debt
Security, the Issuer or the Trustee may require the payment of a sum sufficient to cover any tax,
fee, assessment or other governmental charge that may be imposed in relation thereto and any other
expenses connected therewith. In case any Debt Security which has matured or is about to mature or
which has been called for redemption shall become mutilated or be destroyed, lost or stolen, the
Issuer may, instead of issuing a substituted Debt Security, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Debt Security) if the applicant
for such payment shall furnish the Issuer and the Trustee with such security or indemnity as either
may require to save it harmless from all risk, however remote, and, in case of destruction, loss or
theft, evidence to the satisfaction of the Issuer and the Trustee of the destruction, loss or theft
of such Debt Security and of the ownership thereof.

     Every substituted Debt Security of any series issued pursuant to the provisions of this
Section 2.09 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall
constitute an original additional contractual obligation of the Issuer, whether or not the
destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Debt Securities
of that series duly issued hereunder. All Debt Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with
respect to the replacement or payment of negotiable instruments or other securities without their
surrender.

     Section 2.10 Cancellation of Surrendered Debt Securities. All Debt Securities
surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to
the Issuer or any paying agent or a Registrar, be delivered to the Trustee for cancellation by it,
or if surrendered to the Trustee, shall be canceled by it, and no Debt Securities shall be issued
in lieu thereof except as expressly permitted by any of the provisions of this Indenture. All
canceled Debt Securities held by the Trustee shall be destroyed (subject to the record retention
requirements of the Exchange Act) and certification of their destruction delivered to the Issuer,

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unless otherwise directed. On request of the Issuer, the Trustee shall deliver to the Issuer
canceled Debt Securities held by the Trustee. If the Issuer shall acquire any of the Debt
Securities, however, such acquisition shall not operate as a redemption or satisfaction of the Debt
represented thereby unless and until the same are delivered or surrendered to the Trustee for
cancellation. The Issuer may not issue new Debt Securities to replace Debt Securities that have
been redeemed, paid or delivered to the Trustee for cancellation.

     Section 2.11 Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders. Nothing in this Indenture or in the Debt Securities, expressed or
implied, shall give or be construed to give to any Person, other than the parties hereto, the
Holders or any Registrar or paying agent, any legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein contained; all its
covenants, conditions and provisions being for the sole benefit of the parties hereto, the Holders
and any Registrar and paying agents.

     Section 2.12 Payment of Interest; Interest Rights Preserved.

          (a) Interest on any Debt Security that is payable and is punctually paid or duly provided for
on any interest payment date shall be paid to the Person in whose name such Debt Security is
registered at the close of business on the regular record date for such interest notwithstanding
the cancellation of such Debt Security upon any transfer or exchange subsequent to the regular
record date. Payment of interest on Debt Securities shall be made at the corporate trust office of
the Trustee specified in Section 13.13 (except as otherwise specified pursuant to Section 2.03), or
at the option of the Issuer, by check mailed to the address of the Person entitled thereto as such
address shall appear in the Debt Security Register or, if provided pursuant to Section 2.03 and in
accordance with arrangements satisfactory to the Trustee, at the option of the Holder by wire
transfer to an account designated by the Holder.

          (b) Subject to the foregoing provisions of this Section 2.12 and Section 2.17, each Debt
Security of a particular series delivered under this Indenture upon registration of transfer of or
in exchange for or in lieu of any other Debt Security of the same series shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.

     Section 2.13 Securities Denominated in Dollars. Except as otherwise specified
pursuant to Section 2.03 for Debt Securities of any series, payment of the principal of, and
premium, if any, and interest on, Debt Securities of such series will be made in Dollars.

     Section 2.14 Wire Transfers. Notwithstanding any other provision to the contrary in
this Indenture, the Issuer may make any payment of moneys required to be deposited with the Trustee
on account of principal of, or premium, if any, or interest on, the Debt Securities (whether
pursuant to optional or mandatory redemption payments, interest payments or otherwise) by wire
transfer in immediately available funds to an account designated by the Trustee before 11:00 a.m.,
New York City time, on the date such moneys are to be paid to the Holders of the Debt Securities in
accordance with the terms hereof.

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     Section 2.15 Securities Issuable in the Form of a Global Security.

          (a) If the Issuer shall establish pursuant to Sections 2.01 and 2.03 that the Debt Securities
of a particular series are to be issued in whole or in part in the form of one or more Global
Securities, then the Issuer shall execute and the Trustee or its agent shall, in accordance with
Section 2.05, authenticate and deliver, such Global Security or Securities, which shall represent,
and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding
Debt Securities of such series to be represented by such Global Security or Securities, or such
portion thereof as the Issuer shall specify in an Officers’ Certificate, shall be registered in
the name of the Depositary for such Global Security or Securities or its nominee, shall be
delivered by the Trustee or its agent to the Depositary or pursuant to the Depositary’s instruction
and shall bear a legend substantially to the following effect:

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

     TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO HEREIN.”

or such other legend as may then be required by the Depositary for such Global Security or
Securities.

          (b) Notwithstanding any other provision of this Section 2.15 or of Section 2.07 to the
contrary, and subject to the provisions of paragraph (c) below, unless the terms of a Global
Security expressly permit such Global Security to be exchanged in whole or in part for definitive
Debt Securities in registered form, a Global Security may be transferred, in whole but not in part
and in the manner provided in Section 2.07, only by the Depositary to a nominee of the Depositary
for such Global Security, or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary, or by the Depositary or a nominee of the Depositary to a successor Depositary for
such Global Security selected or approved by the Issuer, or to a nominee of such successor
Depositary.

          (c) (i) If at any time the Depositary for a Global Security or Securities notifies the Issuer
that it is unwilling or unable to continue as Depositary for such Global

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Security or Securities or if at any time the Depositary for the Debt Securities for such
series shall no longer be eligible or in good standing under the Exchange Act or other applicable
statute, rule or regulation, the Issuer shall appoint a successor Depositary with respect to such
Global Security or Securities. If a successor Depositary for such Global Security or Securities is
not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware
of such ineligibility, the Issuer shall execute, and the Trustee or its agent, upon receipt of an
Issuer Order for the authentication and delivery of such individual Debt Securities of such series
in exchange for such Global Security or Securities, will authenticate and deliver, individual Debt
Securities of such series of like tenor and terms in definitive form in an aggregate principal
amount equal to the principal amount of the Global Security or Securities in exchange for such
Global Security or Securities.

     (ii) If an Event of Default occurs and the Depositary for a Global Security or
Securities notifies the Trustee of its decision to require that the Debt Securities
of any series or portion thereof issued or issuable in the form of one or more
Global Securities shall no longer be represented by such Global Security or
Securities, the Issuer shall appoint a successor Depositary with respect to such
Global Security or Securities. In such event the Issuer will execute, and the
Trustee, upon receipt of an Issuer Order for the authentication and delivery of
individual Debt Securities of such series in exchange in whole or in part for such
Global Security or Securities, will authenticate and deliver individual Debt
Securities of such series of like tenor and terms in definitive form in an aggregate
principal amount equal to the principal amount of such series or portion thereof in
exchange for such Global Security or Securities.

     (iii) If specified by the Issuer pursuant to Sections 2.01 and 2.03 with
respect to Debt Securities issued or issuable in the form of a Global Security, the
Depositary for such Global Security may surrender such Global Security in exchange
in whole or in part for individual Debt Securities of such series of like tenor and
terms in definitive form on such terms as are acceptable to the Issuer, the Trustee
and such Depositary. Thereupon the Issuer shall execute, and the Trustee or its
agent upon receipt of an Issuer Order for the authentication and delivery of
definitive Debt Securities of such series shall authenticate and deliver, without
service charge, to each Person specified by such Depositary a new Debt 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 to
such Depositary a new Global Security of like tenor and terms and in an authorized
denomination equal to the difference, if any, between the principal amount of the
surrendered Global Security and the aggregate principal amount of Debt Securities
delivered to Holders thereof.

     (iv) In any exchange provided for in any of the preceding three paragraphs, the
Issuer will execute and the Trustee or its agent will authenticate and deliver
individual Debt Securities. Upon the exchange of the entire principal amount of a
Global Security for individual Debt Securities, such Global Security shall be
canceled by the Trustee or its agent. Except as provided in the preceding

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paragraph, Debt Securities issued in exchange for a Global Security pursuant to
this Section 2.15 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 or
the Registrar. The Trustee or the Registrar shall deliver such Debt Securities to
the Persons in whose names such Debt Securities are so registered.

     (v) Payments in respect of the principal of, premium, if any, and interest on
any Debt Securities registered in the name of the Depositary or its nominee will be
payable to the Depositary or such nominee in its capacity as the registered owner of
such Global Security. The Issuer and the Trustee may treat the Person in whose name
the Debt Securities, including the Global Security, are registered as the owner
thereof for the purpose of receiving such payments and for any and all other
purposes whatsoever. None of the Issuer, the Trustee, any Registrar, the paying
agent or any other agent of the Issuer or the Trustee will have any responsibility
or liability for any aspect of the records relating to or payments made on account
of the beneficial ownership interests of the Global Security by the Depositary or
its nominee or any of the Depositary’s direct or indirect participants, or for
maintaining, supervising or reviewing any records of the Depositary, its nominee or
any of its direct or indirect participants relating to the beneficial ownership
interests of the Global Security, the payments to the beneficial owners of the
Global Security of amounts paid to the Depositary or its nominee, or any other
matter relating to the actions and practices of the Depositary, its nominee or any
of its direct or indirect participants. None of the Issuer, the Trustee or any such
agent will be liable for any delay by the Depositary, its nominee, or any of its
direct or indirect participants in identifying the beneficial owners of the Debt
Securities, and the Issuer, the Trustee and any such agents may conclusively rely
on, and will be protected in relying on, instructions from the Depositary or its
nominee for all purposes (including with respect to the registration and delivery,
and the respective principal amounts, of the Debt Securities to be issued).

     Section 2.16 Medium Term Securities. Notwithstanding any contrary provision herein,
if all Debt Securities of a series are not to be originally issued at one time, it shall not be
necessary for the Issuer to deliver to the Trustee an Officers’ Certificate, resolutions of the
Board of Directors, supplemental indenture, Opinion of Counsel or written order or any other
document otherwise required pursuant to Section 2.01, 2.03, 2.05 or 13.05 at or prior to the time
of authentication of each Debt Security of such series if such documents are delivered to the
Trustee or its agent at or prior to the authentication upon original issuance of the first such
Debt Security of such series to be issued; provided, that any subsequent request by the Issuer to
the Trustee to authenticate Debt Securities of such series upon original issuance shall constitute
a representation and warranty by the Issuer that, as of the date of such request, the statements
made in the Officers’ Certificate delivered pursuant to Section 2.05 or 13.05 shall be true and
correct as if made on such date and that the Opinion of Counsel delivered at or prior to such time
of authentication of an original issuance of Debt Securities shall specifically state that it shall
relate to all subsequent issuances of Debt Securities of such series that are identical to the Debt
Securities issued in the first issuance of Debt Securities of such series.

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     An Issuer Order delivered by the Issuer to the Trustee in the circumstances set forth in the
preceding paragraph, may provide that Debt Securities which are the subject thereof will be
authenticated and delivered by the Trustee or its agent on original issue from time to time upon
the telephonic or written order of Persons designated in such written order (any such telephonic
instructions to be promptly confirmed in writing by such Person) and that such Persons are
authorized to determine, consistent with the Officers’ Certificate, supplemental indenture or
resolution of the Board of Directors relating to such written order, such terms and conditions of
such Debt Securities as are specified in such Officers’ Certificate, supplemental indenture or such
resolution.

     Section 2.17 Defaulted Interest. Any interest on any Debt Security of a particular
series which is payable, but is not punctually paid or duly provided for, on the dates and in the
manner provided in the Debt Securities of such series and in this Indenture (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof on the relevant
record date by virtue of having been such Holder, and such Defaulted Interest may be paid by the
Issuer, at its election in each case, as provided in clause (i) or (ii) below:

     (i) The Issuer may elect to make payment of any Defaulted Interest to the
Persons in whose names the Debt Securities of such series 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 Issuer shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
such Debt Security of such series and the date of the proposed payment, and at the
same time the Issuer shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall
make arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit
of the Persons entitled to such Defaulted Interest as in this clause provided.
Thereupon the Trustee shall fix a special record date for the payment of such
Defaulted Interest which shall be not 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 the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Issuer of such special record date and, in the name and at the
expense of the Issuer, shall cause notice of the proposed payment of such Defaulted
Interest and the special record date therefor to be mailed, first class postage
pre-paid, to each Holder thereof at its address as it appears in the Debt 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 so mailed, such Defaulted Interest shall be paid to the Persons in whose
names the Debt Securities of such series are registered at the close of business on
such special record date.

     (ii) The Issuer may make payment of any Defaulted Interest on the Debt
Securities of such series in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Debt Securities of such series
may be listed, and upon such notice as may be required by such exchange, if, after
notice given by the Issuer to the Trustee of the proposed payment

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pursuant to this clause, such manner of payment shall be deemed practicable by
the Trustee.

     Section 2.18 CUSIP and ISIN Numbers. The Issuer in issuing the Debt Securities may
use “CUSIP” and “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use such
numbers in notices of redemption as a convenience to Holders; provided that any such notice may
state that no representation is made as to the accuracy of such numbers either as printed on the
Debt Securities or as contained in any notice of a redemption and that reliance may be placed only
on the other identification numbers printed on the Debt Securities, and any such redemption shall
not be affected by any defect in or omission of such numbers. The Issuer will promptly notify the
Trustee in writing of any change in the “CUSIP” or “ISIN” numbers.

ARTICLE III

REDEMPTION OF DEBT SECURITIES

     Section 3.01 Applicability of Article. The provisions of this Article shall be
applicable to the Debt Securities of any series which are redeemable before their Stated Maturity
except as otherwise specified as contemplated by Section 2.03 for Debt Securities of such series.

     Section 3.02 Notice of Redemption; Selection of Debt Securities. In case the Issuer
shall desire to exercise the right to redeem all or, as the case may be, any part of the Debt
Securities of any series in accordance with their terms, by resolution of the Board of Directors or
a supplemental indenture, the Issuer shall fix a date for redemption and shall give notice of such
redemption at least 30 and not more than 60 days prior to the date fixed for redemption to the
Holders of Debt Securities of such series so to be redeemed as a whole or in part, in the manner
provided in Section 13.03. The notice if given in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the Holder receives such notice. In any case,
failure to give such notice or any defect in the notice to the Holder of any Debt Security of a
series designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Debt Security of such series.

     Each such notice of redemption shall specify (i) the date fixed for redemption, (ii) the
redemption price at which Debt Securities of such series are to be redeemed (or the method of
calculating such redemption price), (iii) the Place or Places of Payment that payment will be made
upon presentation and surrender of such Debt Securities, (iv) that any interest accrued to the date
fixed for redemption will be paid as specified in said notice, (v) that the redemption is for a
sinking fund payment (if applicable), (vi) that, unless otherwise specified in such notice, if the
Issuer defaults in making such redemption payment the paying agent is prohibited from making such
payment pursuant to the terms of this Indenture, (vii) that on and after said date any interest
thereon or on the portions thereof to be redeemed will cease to accrue, (viii) that in the case of
Original Issue Discount Securities original issue discount accrued after the date fixed for
redemption will cease to accrue, (ix) the terms of the Debt Securities of that series pursuant to
which the Debt Securities of that series are being redeemed and (x) that no representation is made
as to the correctness or accuracy of any CUSIP or ISIN number, if any, listed in such notice or
printed on the Debt Securities of that series. If less than all the Debt Securities of a series
are to be redeemed the notice of redemption shall specify the certificate numbers of any Debt
Securities of that series to be redeemed that are not in global form. In case any Debt

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

     At least five days before the giving of any notice of redemption, unless the Trustee consents
to a shorter period, the Issuer shall give written notice to the Trustee of the Redemption Date,
the principal amount of Debt Securities to be redeemed and the series and terms of the Debt
Securities pursuant to which such redemption will occur. Such notice shall be accompanied by an
Officers’ Certificate and an Opinion of Counsel from the Issuer to the effect that such redemption
will comply with the conditions herein, and such notice may be revoked at any time prior to the
giving of a notice of redemption to the Holders pursuant to this Section 3.02. If fewer than all
the Debt Securities of a series are to be redeemed, the record date relating to such redemption
shall be selected by the Issuer and given in writing to the Trustee, which record date shall be not
less than three days after the date of notice to the Trustee.

     By 11 a.m., New York City time, on the Redemption Date for any Debt Securities, the Issuer
shall deposit with the Trustee or with a paying agent (or, if the Issuer is acting as its own
paying agent, segregate and hold in trust) an amount of money in Dollars (except as provided
pursuant to Section 2.03) sufficient to pay the redemption price of such Debt Securities or any
portions thereof that are to be redeemed on that date, together with any interest accrued to the
Redemption Date.

     If less than all the Debt Securities of like tenor and terms of a series are to be redeemed
(other than pursuant to mandatory sinking fund redemptions), the Trustee shall select, on a pro
rata basis, by lot or by such other method as in its sole discretion it shall deem appropriate and
fair, the Debt Securities of that series or portions thereof (in multiples of $1,000) to be
redeemed. In any case where more than one Debt Security of such series is registered in the same
name, the Trustee in its discretion may treat the aggregate principal amount so registered as if it
were represented by one Debt Security of such series. The Trustee shall promptly notify the Issuer
in writing of the Debt Securities selected for redemption and, in the case of any Debt Securities
selected for partial redemption, the principal amount thereof to be redeemed. If any Debt Security
called for redemption shall not be so paid upon surrender thereof on such Redemption Date, the
principal, premium, if any, and interest shall bear interest until paid from the Redemption Date at
the rate borne by the Debt Securities of that series. If less than all the Debt Securities of
unlike tenor and terms of a series are to be redeemed, the particular Debt Securities to be
redeemed shall be selected by the Issuer. Provisions of this Indenture that apply to Debt
Securities called for redemption also apply to portions of Debt Securities called for redemption.

     Section 3.03 Payment of Debt Securities Called for Redemption. If notice of
redemption has been given as provided in Section 3.02, the Debt Securities or portions of Debt
Securities of the series with respect to which such notice has been given shall become due and
payable on the date and at the Place or Places of Payment stated in such notice at the applicable
redemption price, together with any interest accrued to the date fixed for redemption, and on and
after said date (unless the Issuer shall default in the payment of such Debt Securities at the
applicable redemption price, together with any interest accrued to said date) any interest on the
Debt Securities or portions of Debt Securities of any series so called for redemption shall cease

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to accrue, and any original issue discount in the case of Original Issue Discount Securities
shall cease to accrue. On presentation and surrender of such Debt Securities at the Place or
Places of Payment in said notice specified, the said Debt Securities or the specified portions
thereof shall be paid and redeemed by the Issuer at the applicable redemption price, together with
any interest accrued thereon to the date fixed for redemption.

     Any Debt Security that is to be redeemed only in part shall be surrendered at the Place of
Payment with, if the Issuer, the Registrar or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Issuer, the Registrar and the Trustee
duly executed by, the Holder thereof or his attorney duly authorized in writing, and the Issuer
shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security
without service charge, a new Debt Security or Debt Securities of the same series, of like tenor
and form, of any authorized denomination as requested by such Holder in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Debt Security so
surrendered; except that if a Global Security is so surrendered, the Issuer shall execute, and the
Trustee shall authenticate and deliver to the Depositary for such Global Security, without service
charge, a new Global Security in a denomination equal to and in exchange for the unredeemed portion
of the principal of the Global Security so surrendered. In the case of a Debt Security providing
appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of
delivering a new Debt Security or Debt Securities as aforesaid, may make a notation on such Debt
Security of the payment of the redeemed portion thereof.

     Section 3.04 Mandatory and Optional Sinking Funds. The minimum amount of any sinking
fund payment provided for by the terms of Debt Securities of any series, resolution of the Board of
Directors or a supplemental indenture 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 Debt Securities of
any series, resolution of the Board of Directors or a supplemental indenture is herein referred to
as an “optional sinking fund payment.”

     In lieu of making all or any part of any mandatory sinking fund payment with respect to any
Debt Securities of a series in cash, the Issuer may at its option (a) deliver to the Trustee Debt
Securities of that series theretofore purchased or otherwise acquired by the Issuer or (b) receive
credit for the principal amount of Debt Securities of that series which have been redeemed either
at the election of the Issuer pursuant to the terms of such Debt Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Debt
Securities, resolution or supplemental indenture; provided, that such Debt Securities have not been
previously so credited. Such Debt Securities shall be received and credited for such purpose by
the Trustee at the redemption price specified in such Debt Securities, resolution or supplemental
indenture for redemption through operation of the sinking fund and the amount of such mandatory
sinking fund payment shall be reduced accordingly.

     Section 3.05 Redemption of Debt Securities for Sinking Fund. Not less than 60 days
prior to each sinking fund payment date for any series of Debt Securities, the Issuer will deliver
to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, any resolution or supplemental
indenture, the portion thereof, if any, which is to be satisfied by payment of cash and the portion

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thereof, if any, which is to be satisfied by delivering and crediting Debt Securities of that
series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will
accompany such certificate) and whether the Issuer intends to exercise its right to make any
permitted optional sinking fund payment with respect to such series. Such certificate shall also
state that no Event of Default has occurred and is continuing with respect to such series. Such
certificate shall be irrevocable and upon its delivery the Issuer shall be obligated to make the
cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next
succeeding sinking fund payment date. Failure of the Issuer to deliver such certificate (or to
deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such
failure shall require that the sinking fund payment due on the next succeeding sinking fund payment
date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal
amount of such Debt Securities subject to a mandatory sinking fund payment without the option to
deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make
any optional sinking fund payment, if any, with respect to such series.

     Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused
balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000
(or a lesser sum if the Issuer shall so request) with respect to the Debt Securities of any
particular series shall be applied by the Trustee on the sinking fund payment date on which such
payment is made (or, if such payment is made before a sinking fund payment date, on the sinking
fund payment date following the date of such payment) to the redemption of such Debt Securities at
the redemption price specified in such Debt Securities, resolution or supplemental indenture for
operation of the sinking fund together with any accrued interest to the date fixed for redemption.
Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Debt
Securities shall be added to the next cash sinking fund payment received by the Trustee for such
series and, together with such payment, shall be applied in accordance with the provisions of this
Section 3.05. Any and all sinking fund moneys with respect to the Debt Securities of any
particular series held by the Trustee on the last sinking fund payment date with respect to Debt
Securities of such series and not held for the payment or redemption of particular Debt Securities
shall be applied by the Trustee, together with other moneys, if necessary, to be deposited
sufficient for the purpose, to the payment of the principal of the Debt Securities of that series
at its Stated Maturity.

     The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment
date in the manner specified in the last paragraph of Section 3.02 and the Issuer shall cause
notice of the redemption thereof to be given in the manner provided in Section 3.02 except that the
notice of redemption shall also state that the Debt Securities are being redeemed by operation of
the sinking fund. Such notice having been duly given, the redemption of such Debt Securities shall
be made upon the terms and in the manner stated in Section 3.03.

     The Trustee shall not redeem any Debt Securities of a series with sinking fund moneys or mail
any notice of redemption of such Debt Securities by operation of the sinking fund for such series
during the continuance of a Default in payment of interest on such Debt Securities or of any Event
of Default (other than an Event of Default occurring as a consequence of this paragraph) with
respect to such Debt Securities, except that if the notice of redemption of any such Debt
Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee
shall redeem such Debt Securities if cash sufficient for that purpose shall be

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deposited with the Trustee for that purpose in accordance with the terms of this Article III.
Except as aforesaid, any moneys in the sinking fund for such series at the time when any such
Default or Event of Default shall occur and any moneys thereafter paid into such sinking fund
shall, during the continuance of such Default or Event of Default, be held as security for the
payment of such Debt Securities; provided, however, that in case such Default or Event of Default
shall have been cured or waived as provided herein, such moneys shall thereafter be applied on the
next sinking fund payment date for such Debt Securities on which such moneys may be applied
pursuant to the provisions of this Section 3.05.

ARTICLE IV

PARTICULAR COVENANTS OF THE ISSUER

     Section 4.01 Payment of Principal of, and Premium, If Any, and Interest on, Debt
Securities. The Issuer, for the benefit of each series of Debt Securities, will duly and
punctually pay or cause to be paid the principal of, and premium, if any, and interest on, each of
the Debt Securities at the place, at the respective times and in the manner provided herein or in
the Debt Securities. Each installment of interest on any Debt Securities not in global form may at
the Issuer’s option be paid by mailing checks for such interest payable to the Person entitled
thereto pursuant to Section 2.07(a) to the address of such Person as it appears on the Debt
Security Register.

     Principal of and premium and interest on Debt Securities of any series shall be considered
paid on the date due if, by 11 a.m., New York City time, on such date the Trustee or any paying
agent holds in accordance with this Indenture money sufficient to pay all principal, premium and
interest then due.

     The Issuer shall pay interest on overdue principal or premium, if any, at the rate specified
therefor in the Debt Securities, and it shall pay interest on overdue installments of interest at
the same rate to the extent lawful.

     Section 4.02 Maintenance of Offices or Agencies for Registration of Transfer, Exchange and
Payment of Debt Securities. The Issuer will maintain in each Place of Payment for any series
of Debt Securities an office or agency where Debt Securities of such series may be presented or
surrendered for payment, and it shall also maintain (in or outside such Place of Payment) an office
or agency where Debt Securities of such series may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Issuer in respect of the Debt Securities of
such series and this Indenture may be served. The Issuer 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 Issuer shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the office of the Trustee referred to in Section 13.03 hereof, and the Issuer hereby
appoints the Trustee as its agent to receive all presentations, surrenders, notices and demands.

     The Issuer may also from time to time designate different or additional offices or agencies to
be maintained for such purposes (in or outside of such Place of Payment), and may from time to time
rescind any such designation; provided, however, that no such designation or

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rescission shall in any manner relieve the Issuer of its obligations described in the
preceding paragraph. The Issuer will give prompt written notice to the Trustee of any such
additional designation or rescission of designation and any change in the location of any such
different or additional office or agency.

     Section 4.03 Appointment to Fill a Vacancy in the Office of Trustee. The Issuer,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder with
respect to each series of Debt Securities.

     Section 4.04 Duties of Paying Agents, etc.

          (a) The Issuer shall cause each paying agent, if any, other than the Trustee, to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
the provisions of this Section 4.04,

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

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

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

          (b) If the Issuer shall act as its own paying agent, it will, on or before each due date of
the principal of, and premium, if any, or interest on, the Debt Securities of any series, set
aside, segregate and hold in trust for the benefit of the Holders of the Debt Securities of such
series a sum sufficient to pay such principal, premium, if any, or interest so becoming due. The
Issuer will promptly notify the Trustee of any failure by the Issuer to take such action or the
failure by any other obligor on such Debt Securities to make any payment of the principal of, and
premium, if any, or interest on, such Debt Securities when the same shall be due and payable.

          (c) Anything in this Section 4.04 to the contrary notwithstanding, the Issuer may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust by it or any paying agent, as
required by this Section 4.04, such sums to be held by the Trustee upon the same trusts as those
upon which such sums were held by the Issuer or such paying agent.

          (d) Whenever the Issuer shall have one or more paying agents with respect to any series of
Debt Securities, it will, prior to each due date of the principal of, and premium, if any, or
interest on, any Debt Securities of such series, deposit with any such paying agent a sum

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sufficient to pay the principal, premium or interest so becoming due, such sum to be held in
trust for the benefit of the Persons entitled thereto, and (unless any such paying agent is the
Trustee) the Issuer will promptly notify the Trustee of its action or failure so to act.

          (e) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 4.04 is subject to the provisions of Section 11.05.

     Section 4.05 SEC Reports; Financial Statements.

          (a) The Issuer shall, so long as any of the Debt Securities are Outstanding, file with the
Trustee, within 30 days after it files the same with the SEC, copies of the annual reports and the
information, documents and other reports (or copies of such portions of any of the foregoing as the
SEC may by rules and regulations prescribe) that the Issuer is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act. If the Issuer is not subject to the
requirements of such Section 13 or 15(d), the Issuer shall file with the Trustee, within 30 days
after it would have been required to file the same with the SEC, financial statements, including
any notes thereto (and with respect to annual reports, an auditors’ report by a firm of established
national reputation), and a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” both comparable to that which the Issuer would have been required to
include in such annual reports, information, documents or other reports if the Issuer had been
subject to the requirements of such Section 13 or 15 (d). The Issuer shall also comply with the
provisions of TIA Section 314 (a).

          (b) The Issuer shall provide the Trustee with a sufficient number of copies of all reports and
other documents and information that the Trustee may be required to deliver to Holders under this
Section.

          (c) The Issuer shall, so long as any of the Debt Securities are Outstanding, deliver to the
Trustee, within 30 days of any Officer of the Issuer becoming aware of the occurrence of any Event
of Default, an Officers’ Certificate specifying such Event of Default, the status thereof and what
action the Issuer is taking or proposes to take with respect thereto.

     Section 4.06 Compliance Certificate. The Issuer shall, so long as any of the Debt
Securities are Outstanding, deliver to the Trustee, within 120 days after the end of each fiscal
year of the Issuer, an Officers’ Certificate stating that a review of the activities of the Issuer
and its Subsidiaries during the preceding fiscal year has been made under the supervision of the
Officers signing the certificate with a view to determining whether the Issuer 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 knowledge, the Issuer 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 hereof, without
regard to any grace period or requirement of notice required by this Indenture (or, if a Default or
Event of Default shall have occurred, describing all such Defaults or Events of Default of which
such Officer may have knowledge and what action the Issuer is taking or proposes to take with
respect thereto).

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     Section 4.07 Further Instruments and Acts. The Issuer will, upon request of the
Trustee, execute and deliver such further instruments and do such further acts as may reasonably be
necessary or proper to carry out more effectually the purposes of this Indenture.

     Section 4.08 Existence. Except as permitted by Article X hereof, the Issuer shall do
or cause to be done all things necessary to preserve and keep in full force and effect its
existence.

     Section 4.09 Maintenance of Properties. The Issuer shall cause all properties owned
by the Issuer or any of its Subsidiaries or used or held for use in the conduct of its business or
the business of any such Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary equipment and will cause
to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all
as in the judgment of the Issuer may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided that nothing in this
Section shall prevent the Issuer from discontinuing the operation or maintenance of any of such
properties if such discontinuance is, in the judgment of the Issuer, desirable in the conduct of
its business or the business of any such Subsidiary and not disadvantageous in any material
respect to the Holders.

     Section 4.10 Payment of Taxes and Other Claims. The Issuer shall pay or discharge or
cause to be paid or discharged, before the same shall become delinquent, (i) all taxes, assessments
and governmental charges levied or imposed upon the Issuer or any of its Subsidiaries or upon the
income, profits or property of the Issuer or any of its Subsidiaries, and (ii) all lawful claims
for labor, materials and supplies which, if unpaid, might by law become a Lien upon the property of
the Issuer or any of its Subsidiaries; provided that the Issuer 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.

     Section 4.11 Waiver of Certain Covenants. The Issuer may, with respect to the Debt
Securities of any series, omit in any particular instance to comply with any covenant set forth in
this Article IV (except Sections 4.01 through 4.08) or made applicable to such Debt Securities
pursuant to Section 2.03, if, before or after the time for such compliance, the Holders of at least
a majority in principal amount of the Outstanding Debt Securities of each series affected, waive
such compliance in such instance with such covenant, but no such waiver shall extend to or affect
such covenant except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Issuer and the duties of the Trustee in respect of any such
covenant shall remain in full force and effect.

ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

     Section 5.01 Issuer to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information. The Issuer covenants and agrees that it will furnish or cause to
be furnished to the Trustee with respect to the Debt Securities of each series:

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          (a) not more than 10 days after each record date with respect to the payment of interest, if
any, a list, in such form as the Trustee may reasonably require, of the names and addresses of the
Holders as of such record date, and

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

provided, however, that so long as the Trustee shall be the Registrar, such lists shall not be
required to be furnished.

     The Trustee shall preserve, in as current a form as is reasonably practicable, all information
as to the names and addresses of the Holders (i) contained in the most recent list furnished to it
as provided in this Section 5.01 or (ii) received by it in the capacity of paying agent or
Registrar (if so acting) hereunder.

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

     Section 5.02 Communications to Holders. Holders may communicate pursuant to Section
312(b) of the TIA with other Holders with respect to their rights under this Indenture or the Debt
Securities. The Issuer, the Trustee, the Registrar and anyone else shall have the protection of
Section 312(c) of the TIA.

     Section 5.03 Reports by Trustee. Within 60 days after each January 31, beginning with
the first January 31 following the date of this Indenture, and in any event on or before April 1 in
each year, the Trustee shall mail to Holders a brief report dated as of such January 31 that
complies with TIA Section 313 (a); provided, however, that if no event described in TIA Section 313
(a) has occurred within the twelve months preceding the reporting date, no report need be
transmitted. The Trustee also shall comply with TIA Section 313 (b).

     Reports pursuant to this Section 5.03 shall be transmitted by mail:

          (a) to all Holders, as the names and addresses of such Holders appear in the Debt Security
Register; and

          (b) except in the cases of reports under Section 313(b)(2) of the TIA, to each Holder of a
Debt Security of any series whose name and address appear in the information preserved at the time
by the Trustee in accordance with Section 5.01.

     A copy of each report at the time of its mailing to Holders shall be filed with the SEC and
each stock exchange (if any) on which the Debt Securities of any series are listed. The Issuer
agrees to notify promptly the Trustee whenever the Debt Securities of any series become listed on
any stock exchange and of any delisting thereof.

     Section 5.04 Record Dates for Action by Holders. If the Issuer shall solicit from the
Holders of Debt Securities of any series any action (including the making of any demand or request,
the giving of any direction, notice, consent or waiver or the taking of any other action),

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the Issuer may, at its option, by resolution of the Board of Directors, fix in advance a
record date for the determination of Holders of Debt Securities entitled to take such action, but
the Issuer shall have no obligation to do so. Any such record date shall be fixed at the Issuer’s
discretion. If such a record date is fixed, such action may be sought or given before or after the
record date, but only the Holders of Debt Securities of record at the close of business on such
record date shall be deemed to be Holders of Debt Securities for the purpose of determining whether
Holders of the requisite proportion of Debt Securities of such series Outstanding have authorized
or agreed or consented to such action, and for that purpose the Debt Securities of such series
Outstanding shall be computed as of such record date.

ARTICLE VI

REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

     Section 6.01 Events of Default. If any one or more of the following shall have
occurred and be continuing with respect to Debt Securities of any series (each of the following, an
“Event of Default”):

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

          (b) default in the payment of the principal of or premium, if any, on any Debt Securities of
that series as and when the same shall become due and payable, whether at Stated Maturity, upon
redemption, by declaration, upon required repurchase or otherwise; or

          (c) default in the payment of any sinking fund payment with respect to any Debt Securities of
that series as and when the same shall become due and payable; or

          (d) failure on the part of the Issuer duly to observe or perform (i) any of its covenants or
agreements under Article X or (ii) any other of the covenants or agreements on the part of the
Issuer in the Debt Securities of that series, in any resolution of the Board of Directors
authorizing the issuance of that series of Debt Securities, in this Indenture with respect to such
series or in any supplemental indenture with respect to such series (other than a covenant a
default in the performance of which is elsewhere in this Section specifically dealt with), and in
the case of clause (ii), continuing for a period of 60 days (or 180 days in the case of a Reporting
Failure) after the date on which written notice specifying such failure and requiring the Issuer to
remedy the same shall have been given to the Issuer, or if applicable, the Subsidiary Guarantors,
by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Debt Securities of that series at the time Outstanding; or

          (e) the Issuer pursuant to or within the meaning of any Bankruptcy Law,

     (i) commences a voluntary case,

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

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     (iii) consents to the appointment of a Custodian of it or for all or
substantially all of its property; or

     (iv) makes a general assignment for the benefit of its creditors;

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

     (i) is for relief against the Issuer as debtor in an involuntary case,

     (ii) appoints a Custodian of the Issuer or a Custodian for all or substantially
all of the property of the Issuer, or

     (iii) orders the liquidation of the Issuer,

and the order or decree remains unstayed and in effect for 60 days; or

          (g) any other Event of Default provided with respect to Debt Securities of that series;

then and in each and every case that an Event of Default described in clause (a), (b), (c), (d) or
(g) with respect to Debt Securities of that series at the time Outstanding occurs and is
continuing, unless the principal of, premium, if any, and accrued and unpaid interest on all the
Debt Securities of that series shall have already become due and payable, either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Debt Securities of that series
then Outstanding hereunder, by notice in writing to the Issuer (and to the Trustee if given by
Holders), may declare the principal of (or, if the Debt Securities of that series are Original
Issue Discount Debt Securities, such portion of the principal amount as may be specified in the
terms of that series), premium, if any, and interest on all the Debt Securities of that series to
be due and payable immediately, and upon any such declaration the same shall become and shall be
immediately due and payable, anything in this Indenture or in the Debt Securities of that series
contained to the contrary notwithstanding. If an Event of Default described in clause (e) or (f)
occurs with respect to the Issuer, then and in each and every such case, unless the principal of
and accrued and unpaid interest on all the Debt Securities shall have become due and payable, the
principal of (or, if the Debt Securities of that series are Original Issue Discount Debt
Securities, such portion of the principal amount as may be specified in the terms thereof),
premium, if any, and interest on all the Debt Securities then Outstanding hereunder shall ipso
facto become and be immediately due and payable without any declaration or other act on the part of
the Trustee or any Holders, anything in this Indenture or in the Debt Securities contained to the
contrary notwithstanding.

     The Holders of a majority in aggregate principal amount of the Debt Securities of a particular
series by written notice to the Trustee may rescind an acceleration and its consequences if the
rescission would not conflict with any judgment or decree of a court of competent jurisdiction
already rendered and if all existing Events of Default with respect to that series have been cured
or waived except nonpayment of principal, premium, if any, or interest that has become due solely
because of acceleration. Upon any such rescission, the parties hereto shall be restored
respectively to their several positions and rights hereunder, and all rights,

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remedies and powers of the parties hereto shall continue as though no such proceeding had been
taken.

     Section 6.02 Collection of Debt by Trustee, etc. If an Event of Default occurs and is
continuing, the Trustee, in its own name and as trustee of an express trust, shall be entitled and
empowered to institute any action or proceedings at law or in equity for the collection of the sums
so due and unpaid or enforce the performance of any provision of the Debt Securities of the
affected series or this Indenture, and may prosecute any such action or proceedings to judgment or
final decree, and may enforce any such judgment or final decree against the Issuer or any other
obligor upon the Debt Securities of such series (and collect in the manner provided by law out of
the property of the Issuer or any other obligor upon the Debt Securities of such series wherever
situated the moneys adjudged or decreed to be payable).

     In case there shall be pending proceedings for the bankruptcy or for the reorganization of the
Issuer or any other obligor upon the Debt Securities of any series under any Bankruptcy Law, or in
case a Custodian shall have been appointed for its property, or in case of any other similar
judicial proceedings relative to the Issuer or any other obligor upon the Debt Securities of any
series, its creditors or its property, the Trustee, irrespective of whether the principal of Debt
Securities of any series shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the
provisions of this Section 6.02, shall be entitled and empowered, by intervention in such
proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal,
premium, if any, and interest (or, if the Debt Securities of such series are Original Issue
Discount Debt Securities, such portion of the principal amount as may be specified in the terms of
such series) owing and unpaid in respect of the Debt 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 the
Trustee (including any claim for reasonable compensation to the Trustee, its agents, attorneys and
counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by
the Trustee except as a result of its negligence or bad faith) and of the Holders thereof allowed
in any such judicial proceedings relative to the Issuer, or any other obligor upon the Debt
Securities of such series, its creditors or its property, and to collect and receive any moneys or
other property payable or deliverable on any such claims, and to distribute all amounts received
with respect to the claims of such Holders and of the Trustee on their behalf, and any receiver,
assignee or trustee in bankruptcy or reorganization is hereby authorized by each of such Holders to
make payments to the Trustee, and, in the event that the Trustee shall consent to the making of
payments directly to such Holders, to pay to the Trustee such amount as shall be sufficient to
cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other
reasonable expenses and liabilities incurred, and all advances made, by the Trustee except as a
result of its negligence or bad faith.

     All rights of action and of asserting claims under this Indenture, or under any of the Debt
Securities of any series, may be enforced by the Trustee without the possession of any such Debt
Securities, or the production thereof in any trial or other proceedings relative thereto, and any
such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of
an express trust, and any recovery of judgment (except for any amounts payable to the Trustee
pursuant to Section 7.06) shall be for the ratable benefit of the Holders of all the Debt
Securities in respect of which such action was taken.

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

     Section 6.03 Application of Moneys Collected by Trustee. Any moneys or other property
collected by the Trustee pursuant to Section 6.02 with respect to Debt Securities of any series
shall be applied in the order following, at the date or dates fixed by the Trustee for the
distribution of such moneys or other property, upon presentation of the several Debt Securities of
such series in respect of which moneys or other property have been collected, and the notation
thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

     FIRST: To the payment of all money due the Trustee pursuant to Section 7.06;

     SECOND: In case the principal of the Outstanding Debt Securities in respect of which such
moneys have been collected shall not have become due, to the payment of interest on the Debt
Securities of such series in the order of the maturity of the installments of such interest, with
interest (to the extent that such interest has been collected by the Trustee) upon the overdue
installments of interest at the rate or Yield to Maturity (in the case of Original Issue Discount
Debt Securities) borne by the Debt Securities of such series, such payments to be made ratably to
the Persons entitled thereto, without discrimination or preference;

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

     FOURTH: The remainder, if any, shall be paid to the Issuer or to whomsoever may be lawfully
entitled to receive the same, or as a court of competent jurisdiction may direct.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.03. At least 15 days before such record date, the Issuer shall mail to each Holder and
the Trustee a notice that states the record date, the payment date and amount to be paid.

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     Section 6.04 Limitation on Suits by Holders. No Holder of any Debt Security of any
series shall have any right by virtue or by availing of any provision of this Indenture to
institute any action or proceeding at law or in equity or in bankruptcy or otherwise, upon or under
or with respect to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless such Holder previously shall have given to the Trustee written
notice of an Event of Default with respect to Debt Securities of that same series and of the
continuance thereof and unless the Holders of not less than 25% in aggregate principal amount of
the Outstanding Debt Securities of that series shall have made written request upon the Trustee to
institute such action or proceedings in respect of such Event of Default in its own name as Trustee
hereunder and shall have offered to the Trustee such reasonable indemnity or security as it may
require against the costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee, for 60 days after its receipt of such notice, request and offer of indemnity or security
shall have failed to institute any such action or proceedings and no direction inconsistent with
such written request shall have been given to the Trustee pursuant to Section 6.06; it being
understood and intended, and being expressly covenanted by the Holder of every Debt Security with
every other Holder and the Trustee, that no one or more Holders shall have any right in any manner
whatever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of any Holders, or to obtain or seek to obtain priority over or preference to
any other such Holder, or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all such Holders. For the protection and
enforcement of the provisions of this Section 6.04, each and every Holder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

     Notwithstanding any other provision in this Indenture, however, the right of any Holder of any
Debt Security to receive payment of the principal of, and premium, if any, and (subject to Section
2.12) interest on, such Debt Security, on or after the respective due dates expressed in such Debt
Security, and to institute suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

     Section 6.05 Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of
Default. All powers and remedies given by this Article VI to the Trustee or to the Holders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of
any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or
otherwise, to enforce the performance or observance of the covenants and agreements contained in
this Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or
power accruing upon any Default occurring and continuing as aforesaid, shall impair any such right
or power, or shall be construed to be a waiver of any such Default or an acquiescence therein; and,
subject to the provisions of Section 6.04, every power and remedy given by this Article VI or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Holders.

     Section 6.06 Rights of Holders of Majority in Principal Amount of Debt Securities to
Direct Trustee and to Waive Default. The Holders of not less than a majority in aggregate
principal amount of the Debt Securities of any series at the time Outstanding shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or of exercising any right, trust or power conferred on the Trustee, with respect to the
Debt Securities of such series; provided, however, that such direction shall not be otherwise

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than in accordance with law and the provisions of this Indenture, and that subject to the
provisions of Section 7.01, the Trustee shall have the right to decline to follow any such
direction if the Trustee being advised by counsel shall determine that the action so directed may
not lawfully be taken or is inconsistent with any provision of this Indenture, or if the Trustee
shall by a responsible officer or officers determine that the action so directed would involve it
in personal liability or would be unduly prejudicial to Holders of Debt Securities of such series
not taking part in such direction; and provided, further, however, that nothing in this Indenture
contained shall impair the right of the Trustee to take any action deemed proper by the Trustee and
which is not inconsistent with such direction by such Holders. The Holders of not less than a
majority in aggregate principal amount of the Debt Securities of any series at the time Outstanding
may on behalf of the Holders of all the Debt Securities of that series waive any past Default or
Event of Default and its consequences for that series, except a Default or Event of Default in the
payment of the principal of, and premium, if any, or interest on, any of the Debt Securities and a
Default or Event of Default in respect of a provision that under Section 9.02 cannot be amended
without the consent of each Holder affected thereby. In case of any such waiver, such Default
shall cease to exist, any Event of Default arising therefrom shall be deemed to have been cured for
every purpose of this Indenture, and the Issuer, the Trustee and the Holders of the Debt Securities
of that series shall be restored to their former positions and rights hereunder, respectively; but
no such waiver shall extend to any subsequent or other Default or Event of Default or impair any
right consequent thereon.

     Section 6.07 Trustee to Give Notice of Events of Defaults Known to It, but May Withhold
Such Notice in Certain Circumstances. The Trustee shall, within 90 days after the occurrence
of an Event of Default, or if later, within 30 days after the Trustee obtains actual knowledge of
the Event of Default, with respect to a series of Debt Securities give to the Holders thereof, in
the manner provided in Section 13.03, notice of all Events of Default with respect to such series
known to the Trustee, unless such Events of Default shall have been cured or waived before the
giving of such notice; provided, that, except in the case of an Event of Default in the payment of
the principal of, or premium, if any, or interest on, any of the Debt Securities of such series or
in the making of any sinking fund payment with respect to the Debt Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a committee of directors or responsible officers of the Trustee in good
faith determines that the withholding of such notice is in the interests of the Holders thereof.

     Section 6.08 Requirement of an Undertaking to Pay Costs in Certain Suits under the
Indenture or Against the Trustee. All parties to this Indenture agree, and each Holder of any
Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken 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 in the manner and to
the extent provided in the TIA, 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 6.08 shall not apply to any suit instituted by the Trustee, to any
suit instituted by any Holder, or group of Holders, holding in the aggregate more than 25 percent
in principal amount of the Outstanding Debt Securities of that series or to any suit instituted by
any

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Holder for the enforcement of the payment of the principal of, or premium, if any, or interest
on, any Debt Security on or after the due date for such payment expressed in such Debt Security.

ARTICLE VII

CONCERNING THE TRUSTEE

     Section 7.01 Certain Duties and Responsibilities. The Trustee, prior to the
occurrence of an Event of Default and after the curing or waiving of all Events of Default which
may have occurred, undertakes to perform such duties and only such duties as are specifically set
forth in this Indenture. In case an Event of Default has occurred (which has not been cured or
waived), the Trustee 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 man would exercise or use
under the circumstances in the conduct of his own affairs.

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

          (a) this paragraph shall not be construed to limit the effect of the first paragraph of this
Section 7.01;

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

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

     (ii) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case of any
such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to
examine the same to determine whether or not they conform to the requirements of
this Indenture; but the Trustee shall examine the evidence furnished to it pursuant
to Sections 4.05 and 4.06 to determine whether or not such evidence conforms to the
requirement of this Indenture;

     (iii) the Trustee shall not be liable for an 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; and

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          (iv) the Trustee shall not be liable with respect to any action taken or
omitted to be taken by it with respect to Debt Securities of any series in good
faith in accordance with the direction of the Holders of not less than a majority in
aggregate principal amount of the Outstanding Debt Securities of that series
relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to Debt Securities of such series.

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

     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 shall be subject
to the provisions of this Section.

     Section 7.02 Certain Rights of Trustee. Except as otherwise provided in Section 7.01:

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

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

          (c) the Trustee may consult with counsel, 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 or
suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of
Counsel;

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

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

          (f) prior to the occurrence of an Event of Default and after the curing of all Events of
Default which may have occurred, the Trustee shall not be bound to make any

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investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, approval or other paper or
document, unless requested in writing to do so by the Holders of a majority in aggregate principal
amount of the then Outstanding Debt Securities of a series affected by such matter; provided,
however, that if the payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is not, in the opinion
of the Trustee, reasonably assured to the Trustee by the security afforded to it by the terms of
this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or
liabilities as a condition to so proceeding, and the reasonable expense of every such investigation
shall be paid by the Issuer or, if paid by the Trustee, shall be repaid by the Issuer upon demand;

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

          (h) if any property other than cash shall at any time be subject to a Lien in favor of the
Holders, the Trustee, if and to the extent authorized by a receivership or bankruptcy court of
competent jurisdiction or by the supplemental instrument subjecting such property to such Lien,
shall be entitled to make advances for the purpose of preserving such property or of discharging
tax Liens or other prior Liens or encumbrances thereon.

     Section 7.03 Trustee Not Liable for Recitals in Indenture or in Debt Securities. The
recitals contained herein, in the Debt Securities (except the Trustee’s certificate of
authentication) shall be taken as the statements of the Issuer, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Debt Securities of any series, except that the
Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate
the Debt Securities and perform its obligations hereunder, and that the statements made by it or to
be made by it in a Statement of Eligibility and Qualification on Form T-1 supplied to the Issuer
are true and accurate. The Trustee shall not be accountable for the use or application by the
Issuer of any of the Debt Securities or of the proceeds thereof.

     Section 7.04 Trustee, Paying Agent or Registrar May Own Debt Securities. The Trustee
or any paying agent or Registrar, in its individual or any other capacity, may become the owner or
pledgee of Debt Securities and subject to the provisions of the TIA relating to conflicts of
interest and preferential claims may otherwise deal with the Issuer with the same rights it would
have if it were not Trustee, paying agent or Registrar.

     Section 7.05 Moneys Received by Trustee to Be Held in Trust. Subject to the
provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as
herein provided, be held in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any moneys received by it hereunder. So long as no Event of Default
shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from
time to time to the Issuer upon an Issuer Order.

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     Section 7.06 Compensation and Reimbursement. The Issuer covenants and agrees to pay
in Dollars to the Trustee from time to time, and the Trustee shall be entitled to, reasonable
compensation for all services rendered by it hereunder (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise
expressly provided herein, the Issuer will pay or reimburse in Dollars the Trustee upon its request
for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its agents, attorneys and counsel and of all Persons not
regularly in its employ), including without limitation, Section 6.02, except any such expense,
disbursement or advances as may arise from its negligence, willful misconduct or bad faith. The
Issuer also covenants to indemnify in Dollars the Trustee for, and to hold it harmless against, any
loss, liability or expense incurred without negligence, willful misconduct or bad faith on the part
of the Trustee, arising out of or in connection with the acceptance or administration of this trust
or trusts hereunder, including the reasonable costs and expenses of defending itself against any
claim of liability in connection with the exercise or performance of any of its powers or duties
hereunder. The obligations of the Issuer under this Section 7.06 to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall
constitute additional Debt hereunder and shall survive the satisfaction and discharge of this
Indenture. The Issuer and the Holders agree that such additional Debt shall be secured by a Lien
prior to that of the Debt Securities upon all property and funds held or collected by the Trustee,
as such, except funds held in trust for the payment of principal of, and premium, if any, or
interest on, particular Debt Securities.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(e) or (f) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

     Section 7.07 Right of Trustee to Rely on an Officers’ Certificate Where No Other Evidence
Specifically Prescribed. Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable
that a matter be proved or established prior to taking or suffering or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed)
may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full
warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this
Indenture upon the faith thereof.

     Section 7.08 Separate Trustee; Replacement of Trustee. The Issuer may, but need not,
appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign
with respect to one or more or all series of Debt Securities at any time by giving notice to the
Issuer. The Holders of a majority in aggregate principal amount of the Debt Securities of a
particular series may remove the Trustee for such series and only such series by so notifying the
Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if:

          (a) the Trustee fails to comply with Section 7.10;

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          (b) the Trustee is adjudged bankrupt or insolvent;

          (c) a Custodian takes charge of the Trustee or its property; or

          (d) the Trustee otherwise becomes incapable of acting.

     If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in aggregate
principal amount of the Debt Securities of a particular series and such Holders do not reasonably
promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any
reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer
shall promptly appoint a successor Trustee. No resignation or removal of the Trustee and no
appointment of a successor Trustee shall become effective until the acceptance of appointment by
the successor Trustee in accordance with the applicable requirements of this Section 7.08.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of Debt Securities of each applicable series. The retiring Trustee shall promptly transfer
all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.06.

     If a successor Trustee does not take office within 60 days after the retiring Trustee gives
notice of resignation or is removed, the retiring Trustee or the Holders of 25% in aggregate
principal amount of the Debt Securities of any applicable series may petition any court of
competent jurisdiction for the appointment of a successor Trustee for the Debt Securities of such
series.

     If the Trustee fails to comply with Section 7.10, any Holder of Debt Securities of any
applicable series may petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor Trustee for the Debt Securities of such series.

     Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Issuer’s
obligations under Section 7.06 shall continue for the benefit of the retiring Trustee.

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

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trusts hereunder separate and apart from any trust or trusts hereunder administered by any
other such Trustee.

     Section 7.09 Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation or
banking association without any further act shall be the successor Trustee.

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

     Section 7.10 Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of Section 310(a) of the TIA. The Trustee shall have a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published annual report of
condition. No obligor upon the Debt Securities of a particular series or Person directly or
indirectly controlling, controlled by or under common control with such obligor shall serve as
Trustee for the Debt Securities of such series. The Trustee shall comply with Section 310(b) of
the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of
the TIA this Indenture or any indenture or indentures under which other securities or certificates
of interest or participation in other securities of the Issuer are outstanding if the requirements
for such exclusion set forth in Section 310(b)(1) of the TIA are met.

     Section 7.11 Preferential Collection of Claims Against Issuer. The Trustee shall
comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b)
of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the
TIA to the extent indicated therein.

     Section 7.12 Compliance with Tax Laws. The Trustee hereby agrees to comply with all
U.S. Federal income tax information reporting and withholding requirements applicable to it with
respect to payments of premium (if any) and interest on the Debt Securities, whether acting as
Trustee, Registrar, paying agent or otherwise with respect to the Debt Securities.

ARTICLE VIII

CONCERNING THE HOLDERS

     Section 8.01 Evidence of Action by Holders. Whenever in this Indenture it is provided
that the Holders of a specified percentage in aggregate principal amount of the Debt Securities of
any or all series may take action (including the making of any demand or request, the giving of any
direction, notice, consent or waiver or the taking of any other action) the fact that at the time
of taking any such action the Holders of such specified percentage have joined therein may be

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evidenced (a) by any instrument or any number of instruments of similar tenor executed by
Holders in Person or by agent or proxy appointed in writing, (b) by the record of the Holders
voting in favor thereof at any meeting of Holders duly called and held in accordance with the
provisions of Section 5.02, (c) by a combination of such instrument or instruments and any such
record of such a meeting of Holders or (d) in the case of Debt Securities evidenced by a Global
Security, by any electronic transmission or other message, whether or not in written format, that
complies with the Depositary’s applicable procedures.

     Section 8.02 Proof of Execution of Instruments and of Holding of Debt Securities.
Subject to the provisions of Sections 7.01, 7.02 and 13.09, proof of the execution of any
instrument by a Holder or his agent or proxy shall be sufficient if made in accordance with such
reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee. The ownership of Debt Securities of any series shall be proved by the
Debt Security Register or by a certificate of the Registrar for such series. The Trustee may
require such additional proof of any matter referred to in this Section 8.02 as it shall deem
necessary.

     Section 8.03 Who May Be Deemed Owner of Debt Securities. Prior to due presentment for
registration of transfer of any Debt Security, the Issuer, the Trustee, any paying agent and any
Registrar may deem and treat the Person in whose name any Debt Security shall be registered upon
the books of the Issuer as the absolute owner of such Debt Security (whether or not such Debt
Security shall be overdue and notwithstanding any notation of ownership or other writing thereon)
for the purpose of receiving payment of or on account of the principal of and premium, if any, and
(subject to Section 2.12) interest on such Debt Security and for all other purposes, and none of
the Issuer, the Trustee, any paying agent nor any Registrar shall be affected by any notice to the
contrary; and all such payments so made to any such Holder for the time being, or upon his order,
shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge
the liability for moneys payable upon any such Debt Security.

     Section 8.04 Instruments Executed by Holders Bind Future Holders. At any time prior
to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any
action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any
series specified in this Indenture in connection with such action and subject to the following
paragraph, any Holder of a Debt Security which is shown by the evidence to be included in the Debt
Securities the Holders of which have consented to such action may, by filing written notice with
the Trustee at its corporate trust office referred to in Section 13.03 and upon proof of holding as
provided in Section 8.02, revoke such action so far as concerns such Debt Security. Except as
aforesaid any such action taken by the Holder of any Debt Security shall be conclusive and binding
upon such Holder and upon all future Holders and owners of such Debt Security and of any Debt
Security issued upon transfer thereof or in exchange or substitution therefor, irrespective of
whether or not any notation in regard thereto is made upon such Debt Security or such other Debt
Securities. Any action taken by the Holders of the percentage in aggregate principal amount of the
Debt Securities of any series specified in this Indenture in connection with such action shall be
conclusively binding upon the Issuer, the Trustee and the Holders of all the Debt Securities of
such series.

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     The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders of Debt Securities entitled to give their consent or take any other action
required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then
notwithstanding the immediately preceding paragraph, those Persons who were Holders of Debt
Securities at such record date (or their duly designated proxies), and only those Persons, shall be
entitled to give such consent or to revoke any consent previously given or to take any such action,
whether or not such Persons continue to be Holders of Debt Securities after such record date. No
such consent shall be valid or effective for more than 120 days after such record date unless the
consent of the Holders of the percentage in aggregate principal amount of the Debt Securities of
such series specified in this Indenture shall have been received within such 120-day period.

ARTICLE IX

SUPPLEMENTAL INDENTURES

     Section 9.01 Purposes for Which Supplemental Indenture May Be Entered into Without Consent
of Holders. The Issuer, when authorized by resolutions of each Issuer’s Board of Directors,
and the Trustee may from time to time and at any time, without the consent of Holders, enter into
an indenture or indentures supplemental hereto (which shall conform to the provisions of the TIA as
in force at the date of the execution thereof) for one or more of the following purposes:

          (a) to evidence the succession pursuant to Article X of another Person to the Issuer, or
successive successions, and the assumption by the Successor Company (as defined in Section 10.01)
of the covenants, agreements and obligations of its predecessor Issuer in this Indenture and in the
Debt Securities;

          (b) to surrender any right or power herein conferred upon the Issuer to add to the covenants
of the Issuer such further covenants, restrictions, conditions or provisions for the protection of
the Holders of all or any series of Debt Securities (and if such covenants are to be for the
benefit of less than all series of Debt Securities, stating that such covenants are expressly being
included solely for the benefit of such series) as the Board of Directors shall consider to be for
the protection of the Holders of such Debt Securities, and to make the occurrence, or the
occurrence and continuance, of a Default in any of such additional covenants, restrictions,
conditions or provisions a Default or an Event of Default permitting the enforcement of all or any
of the several remedies provided in this Indenture; provided, that in respect of any such
additional covenant, restriction, condition or provision such supplemental indenture may provide
for a particular period of grace after Default (which period may be shorter or longer than that
allowed in the case of other Defaults) or may provide for an immediate enforcement upon such
Default or may limit the remedies available to the Trustee upon such Default or may limit the right
of the Holders of a majority in aggregate principal amount of any or all series of Debt Securities
to waive such Default;

          (c) to cure any ambiguity or omission or to correct or supplement any provision contained
herein, in any supplemental indenture or in any Debt Securities of any series that may be defective
or inconsistent with any other provision contained herein, in any

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supplemental indenture or in the Debt Securities of such series; or to convey, transfer,
assign, mortgage or pledge any property to or with the Trustee;

          (d) to permit the qualification of this Indenture or any indenture supplemental hereto under
the TIA as then in effect, except that nothing herein contained shall permit or authorize the
inclusion in any indenture supplemental hereto of the provisions referred to in Section 316(a)(2)
of the TIA;

          (e) to permit or facilitate the issuance of Debt Securities of any series in uncertificated
form;

          (f) to make any change that does not adversely affect the rights hereunder of any Holder;

          (g) to add to, change or eliminate any of the provisions of this Indenture in respect of one
or more series of Debt Securities; provided, however, that any such addition, change or elimination
not otherwise permitted under this Section 9.01 shall neither apply to any Debt Security of any
series created prior to the execution of such supplemental indenture and entitled to the benefit of
such provision nor modify the rights of the Holder of any such Debt Security with respect to such
provision or shall become effective only when there is no such Debt Security Outstanding;

          (h) to evidence and provide for the acceptance of appointment hereunder by a successor or
separate Trustee with respect to the Debt 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; and

          (i) to establish the form or terms of Debt Securities of any series as permitted by Sections
2.01 and 2.03.

     The Trustee is hereby authorized to join with the Issuer in the execution of any such
supplemental indenture, to make any further appropriate agreements and stipulations which may be
therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any
property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.

     Any supplemental indenture authorized by the provisions of this Section 9.01 may be executed
by the Issuer and the Trustee without the consent of the Holders of any of the Debt Securities at
the time Outstanding, notwithstanding any of the provisions of Section 9.02.

     Section 9.02 Modification of Indenture with Consent of Holders of Debt Securities.
Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the
Holders of not less than a majority in aggregate principal amount of the Outstanding Debt
Securities of each series affected by such supplemental indenture (including consents obtained in
connection with a tender offer or exchange offer for any such series of Debt Securities), the
Issuer, when authorized by resolutions of the Board of Directors, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which shall

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conform to the provisions of the TIA as in force at the date of execution thereof) for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the
Holders of the Debt Securities of such series; provided, that no such supplemental indenture,
without the consent of the Holders of each Debt Security so affected, shall: reduce the percentage
in principal amount of Debt Securities of any series whose Holders must consent to an amendment or
waiver; reduce the rate of or extend the time for payment of interest on any Debt Security; reduce
the principal of or extend the Stated Maturity of any Debt Security; reduce any premium payable
upon the redemption of any Debt Security or change the time at which any Debt Security may or shall
be redeemed in accordance with Article III; make any Debt Security payable in currency other than
that stated in such Debt Security; impair the right of any Holder to receive payment of premium, if
any, principal of and interest on such Holder’s Debt Securities on or after the due dates therefor
or to institute suit for the enforcement of any payment on or with respect to such Holder’s Debt
Securities; release any security that may have been granted in respect of the Debt Securities,
other than in accordance with this Indenture; or make any change in Section 6.06 or this Section
9.02.

     A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has been expressly included solely for the benefit of one or more particular series
of Debt Securities or which modifies the rights of the Holders of Debt 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 Debt Securities of any other series.

     Upon the request of the Issuer, accompanied by a copy of resolutions of the Board of Directors
authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee
of evidence of the consent of Holders as aforesaid, the Trustee shall join with the Issuer in the
execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion but shall not be obligated to enter into such supplemental indenture.

     It shall not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed supplemental indenture, but it shall be sufficient if such
consent shall approve the substance thereof.

     After an amendment under this Section 9.02 requiring the consent of the Holders of any series
of Debt Securities becomes effective, the Issuer shall mail to Holders of that series of Debt
Securities a notice briefly describing such amendment. The failure to give such notice to any such
Holders, or any defect therein, shall not impair or affect the validity of an amendment under this
Section 9.02 with respect to other Holders.

     Section 9.03 Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture pursuant to the provisions of this Article IX, this Indenture shall be and
be deemed to be modified and amended in accordance therewith and the respective rights, limitations
of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and
the Holders shall thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions of any

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such supplemental indenture shall be and be deemed to be part of the terms and conditions of
this Indenture for any and all purposes.

     The Trustee, subject to the provisions of Sections 7.01 and 7.02, shall be entitled to receive
an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such
supplemental indenture complies with the provisions of this Article IX.

     Section 9.04 Debt Securities May Bear Notation of Changes by Supplemental Indentures.
Debt Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to the provisions of this Article IX may, and shall if required by the Trustee,
bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. New Debt Securities of any series so modified as to conform, in the opinion of the
Trustee and the Issuer, to any modification of this Indenture contained in any such supplemental
indenture may be prepared and executed by the Issuer, authenticated by the Trustee and delivered in
exchange for the Debt Securities of such series then Outstanding. Failure to make the appropriate
notation or to issue a new Debt Security of such series shall not affect the validity of such
amendment.

ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

     Section 10.01 Consolidations and Mergers of the Issuer. The Issuer may not
consolidate or amalgamate with or merge with or into any Person, or sell, convey, transfer, lease
or otherwise dispose of all or substantially all its assets to any Person, whether in a single
transaction or a series of related transactions, unless: (a) either (i) the Issuer shall be the
surviving Person in the case of a merger or (ii) the resulting, surviving or transferee Person if
other than the Issuer (the “Successor Company”), shall be a partnership, limited liability company
or corporation organized and existing under the laws of the United States, any State thereof or the
District of Columbia, and the Successor Company shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee,
all the obligations of the Issuer under this Indenture and the Debt Securities according to their
tenor; (b) immediately after giving effect to such transaction or series of transactions (and
treating any Debt which becomes an obligation of the Successor Company or any Subsidiary of the
Issuer as a result of such transaction as having been incurred by the Successor Company or such
Subsidiary at the time of such transaction or series of transactions), no Default or Event of
Default would occur or be continuing; and (c) the Issuer shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation,
amalgamation, merger or disposition and such supplemental indenture (if any) comply with this
Indenture.

     Section 10.02 Rights and Duties of Successor Company. In case of any consolidation,
amalgamation or merger where the Issuer is not the continuing Person, or disposition of all or
substantially all of the assets of the Issuer in accordance with Section 10.01, the Successor
Company shall succeed to and be substituted for the Issuer with the same effect as if it had been
named herein as the respective party to this Indenture, and the predecessor entity shall be
released from all liabilities and obligations under this Indenture and the Debt Securities, except
that no such release will occur in the case of a lease of all or substantially all of the Issuer’s

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assets. The Successor Company thereupon may cause to be signed, and may issue either in its
own name or in the name of the Issuer, any or all the Debt Securities issuable hereunder which
theretofore shall not have been signed by or on behalf of the Issuer and delivered to the Trustee;
and, upon the order of the Successor Company, instead of the Issuer, and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall
deliver any Debt Securities which previously shall have been signed and delivered by or on behalf
of the Issuer to the Trustee for authentication, and any Debt Securities which the Successor
Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the
Debt Securities so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Debt Securities theretofore or thereafter issued in accordance with the terms of
this Indenture as though all such Debt Securities had been issued at the date of the execution
hereof.

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

ARTICLE XI

SATISFACTION AND DISCHARGE OF

INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

     Section 11.01 Applicability of Article. The provisions of this Article XI relating to
discharge or defeasance of Debt Securities shall be applicable to each series of Debt Securities
except as otherwise specified pursuant to Section 2.03 for Debt Securities of such series.

     Section 11.02 Satisfaction and Discharge of Indenture; Defeasance.

          (a) If at any time the Issuer shall have delivered to the Trustee for cancellation all Debt
Securities of any series theretofore authenticated and delivered (other than any Debt Securities of
such series which shall have been destroyed, lost or stolen and which shall have been replaced or
paid as provided in Section 2.09 and Debt Securities for whose payment money has theretofore been
deposited in trust and thereafter repaid to the Issuer as provided in Section 11.05) or all Debt
Securities of such series not theretofore delivered to the Trustee for cancellation shall have
become due and payable, or are by their terms to become due and payable within one year or are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption, and the Issuer shall have deposited or caused to be deposited with
the Trustee as trust funds the entire amount in cash sufficient to pay at final maturity or upon
redemption all Debt Securities of such series not theretofore delivered to the Trustee for
cancellation, including principal and premium, if any, and interest due or to become due on such
date of maturity or Redemption Date, as the case may be, and if in either case the Issuer shall
also have paid or caused to be paid all other sums payable hereunder by the Issuer with respect to
the Debt Securities of such series, then this Indenture shall cease to be of further effect (except
as provided in Section 11.02(c)) with respect to the Debt Securities of such series, and the
Trustee, on demand of the Issuer accompanied by an Officers’ Certificate and an Opinion of Counsel
and at the cost and expense of the Issuer, shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture with respect to the Debt Securities of such series.

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          (b) Subject to Sections 11.02(c), 11.03 and 11.07, the Issuer at any time may terminate, with
respect to Debt Securities of a particular series, all of its obligations under the Debt Securities
of such series and this Indenture with respect to the Debt Securities of such series (“legal
defeasance option”) or the operation of (w) Sections 4.09 and 4.10, (x) any covenant made
applicable to such Debt Securities pursuant to Section 2.03, and (y) Sections 6.01(d) and (g)
(“covenant defeasance option”). The Issuer may exercise its legal defeasance option
notwithstanding its prior exercise of its covenant defeasance option.

     If the Issuer exercises its legal defeasance option, payment of the Debt Securities of the
defeased series may not be accelerated because of an Event of Default. If the Issuer exercises its
covenant defeasance option, payment of the Debt Securities of the defeased series may not be
accelerated because of an Event of Default specified in Sections 6.01(d) and (g).

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

          (c) Notwithstanding clauses (a) and (b) above, the Issuer’s obligations in Sections 2.07,
2.09, 4.02, 4.03, 4.04, the last sentence of 4.05(a), 4.06, 5.01, 7.06, 11.05, 11.06 and 11.07
shall survive until the Debt Securities of the defeased series have been paid in full. Thereafter,
the Issuer’s obligations in Sections 7.06, 11.05 and 11.06 shall survive.

     Section 11.03 Conditions of Defeasance. The Issuer may exercise its legal defeasance
option or its covenant defeasance option with respect to Debt Securities of a particular series
only if:

          (a) the Issuer irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of, and premium, if any, and interest on, the Debt
Securities of such series to final maturity or redemption, as the case may be;

          (b) the Issuer delivers to the Trustee a certificate from a nationally recognized firm of
independent accountants expressing their opinion that the payments of principal and interest when
due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money
without investment will provide cash at such times and in such amounts as will be sufficient to pay
the principal, premium, if any, and interest when due on all the Debt Securities of such series to
final maturity or redemption, as the case may be;

          (c) 91 days pass after the deposit is made and during the 91-day period no Default specified
in Section 6.01(e) or (f) with respect to the Issuer occurs which is continuing at the end of the
period;

          (d) no Default has occurred and is continuing on the date of such deposit and after giving
effect thereto;

          (e) the deposit does not constitute a default under any other material agreement binding on
the Issuer;

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          (f) the Issuer delivers to the Trustee an Opinion of Counsel to the effect that the trust
resulting from the deposit does not constitute, or is qualified as, a regulated investment company
under the Investment Company Act of 1940;

          (g) in the event of the legal defeasance option, the Issuer shall have delivered to the
Trustee an Opinion of Counsel stating that the Issuer has received from the Internal Revenue
Service a ruling, or since the date of this Indenture 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 Debt Securities of such series will not recognize
income, gain or loss for Federal income tax purposes as a result of such 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 defeasance had not occurred;

          (h) in the event of the covenant defeasance option, the Issuer shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of Debt Securities of such series 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; and

          (i) the Issuer delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent to the defeasance of the Debt Securities of such series
as contemplated by this Article XI have been complied with.

     Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for
the redemption of Debt Securities of such series at a future date in accordance with Article III.

     Section 11.04 Application of Trust Money. The Trustee shall hold in trust money or
U.S. Government Obligations deposited with it pursuant to this Article XI. It shall apply the
deposited money and the money from U.S. Government Obligations through any paying agent and in
accordance with this Indenture to the payment of principal of, and premium, if any, and interest
on, the Debt Securities of the defeased series.

     Section 11.05 Repayment to Issuer. The Trustee and any paying agent shall promptly
turn over to the Issuer upon request any excess money or securities held by them at any time.

     Subject to any applicable abandoned property law, the Trustee and any paying agent shall pay
to the Issuer upon request any money held by them for the payment of principal, premium or interest
that remains unclaimed for two years, and, thereafter, Holders entitled to such money must look to
the Issuer for payment as general creditors.

     Section 11.06 Indemnity for U.S. Government Obligations. The Issuer shall pay and
shall indemnify the Trustee and the Holders against any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations or the principal and interest received on
such U.S. Government Obligations.

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     Section 11.07 Reinstatement. If the Trustee or any paying agent is unable to apply
any money or U.S. Government Obligations in accordance with this Article XI by reason of any legal
proceeding or by reason of any order or judgment of any court or government authority enjoining,
restraining or otherwise prohibiting such application, the Issuer’s obligations under this
Indenture and the Debt Securities of the defeased series shall be revived and reinstated as though
no deposit had occurred pursuant to this Article XI until such time as the Trustee or any paying
agent is permitted to apply all such money or U.S. Government Obligations in accordance with this
Article XI.

ARTICLE XII

[RESERVED]

     Section 12.01 This Article XII has been intentionally omitted.

ARTICLE XIII

MISCELLANEOUS PROVISIONS

     Section 13.01 Successors and Assigns of Issuer Bound by Indenture. All the covenants,
stipulations, promises and agreements in this Indenture contained by or in behalf of the Issuer or
the Trustee shall bind their respective successors and assigns, whether so expressed or not.

     Section 13.02 Acts of Board, Committee or Officer of Successor Issuer Valid. Any act
or proceeding by any provision of this Indenture authorized or required to be done or performed by
any board, committee or officer of the Issuer shall and may be done and performed with like force
and effect by the like board, committee or officer of any Successor Company.

     Section 13.03 Required Notices or Demands. Any notice or communication by the Issuer
or the Trustee to the others is duly given if in writing in the English language and delivered in
Person or mailed by registered or certified mail (return receipt requested), telecopier or
overnight air courier guaranteeing next day delivery, to the other’s address:

If to the Issuer:

Exterran Partners L.P.

16666 Northchase Drive

Houston, Texas 77060

Attention: [                    ]

Telecopy No. [                    ]

If to the Trustee:

[                                        ]

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

     All notices and communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; five Business Days after being deposited in the mail,

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postage prepaid, if mailed; on the first Business Day on or after being sent, if telecopied
and the sender receives confirmation of successful transmission; and the next Business Day after
timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

     Any notice required or permitted to a Holder by the Issuer or the Trustee pursuant to the
provisions of this Indenture shall be deemed to be properly mailed by being deposited postage
prepaid in a post office letter box in the United States addressed to such Holder at the address of
such Holder as shown on the Debt Security Register. Any report pursuant to Section 313 of the TIA
shall be transmitted in compliance with subsection (c) therein.

     Notwithstanding the foregoing, any notice to Holders of Floating Rate Securities regarding the
determination of a periodic rate of interest, if such notice is required pursuant to Section 2.03,
shall be sufficiently given if given in the manner specified pursuant to Section 2.03.

     In the event of suspension of regular mail service or by reason of any other cause it shall be
impracticable to give notice by mail, then such notification as shall be given with the approval of
the Trustee shall constitute sufficient notice for every purpose hereunder.

     In the event it shall be impracticable to give notice by publication, then such notification
as shall be given with the approval of the Trustee shall constitute sufficient notice for every
purpose hereunder.

     Failure to mail a notice or communication to a Holder or any defect in it or any defect in any
notice by publication as to a Holder shall not affect the sufficiency of such notice with respect
to other Holders. If a notice or communication is mailed or published in the manner provided
above, it is conclusively presumed duly given.

     Section 13.04 Indenture and Debt Securities to Be Construed in Accordance with the Laws of
the State of New York. THIS INDENTURE AND EACH DEBT SECURITY SHALL BE DEEMED TO BE NEW YORK
CONTRACTS, AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
SAID STATE.

     Section 13.05 Officers’ Certificate and Opinion of Counsel to Be Furnished upon
Application or Demand by the Issuer. Upon any application or demand by the Issuer to the
Trustee to take any action under any of the provisions of this Indenture, the Issuer shall furnish
to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating
that, in the opinion of such counsel, all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of such document is
specifically required by any provision of this Indenture relating to such particular application or
demand, no additional certificate or opinion need be furnished.

     Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant provided for in this Indenture shall include (a)
a statement that the person making such certificate or opinion has read such covenant or condition,
(b) a brief statement as to the nature and scope of the examination or investigation

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upon which the statements or opinions contained in such certificate or opinion are based, (c)
a statement that, in the opinion of such person, he has made such examination or investigation as
is necessary to enable him to express an informed opinion as to whether or not such covenant or
condition has been complied with and (d) a statement as to whether or not, in the opinion of such
person, such condition or covenant has been complied with.

     Section 13.06 Payments Due on Legal Holidays. In any case where the date of maturity
of interest on or principal of and premium, if any, on the Debt Securities of a series or the date
fixed for redemption or repayment of any Debt Security or the making of any sinking fund payment
shall not be a Business Day at any Place of Payment for the Debt Securities of such series, then
payment of interest or principal and premium, if any, or the making of such sinking fund payment
need not be made on such date at such Place of Payment, 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 date of
maturity or the date fixed for redemption, and no interest shall accrue for the period after such
date. If a record date is not a Business Day, the record date shall not be affected.

     Section 13.07 Provisions Required by TIA to Control. If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with another provision included in this
Indenture which is required to be included in this Indenture by any of Sections 310 to 318,
inclusive, of the TIA, such required provision shall control.

     Section 13.08 Computation of Interest on Debt Securities. Interest, if any, on the
Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as
may otherwise be provided pursuant to Section 2.03.

     Section 13.09 Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of Holders. The Registrar and any paying agent may
make reasonable rules for their functions.

     Section 13.10 No Recourse Against Others. None of the past, present or future
partners, incorporators, managers, members, directors, officers, employees or unitholders of the
Issuer or any Subsidiary Guarantor, as such, shall have any liability for any obligations of the
Issuer under the Debt Securities or this Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. By accepting a Debt Security, each Holder shall be
deemed to have waived and released all such liability. The waiver and release shall be part of the
consideration for the issue of the Debt Securities.

     Section 13.11 Severability. In case any provision in this Indenture or the Debt
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 13.12 Effect of Headings. The article and section headings herein and in the
Table of Contents are for convenience only and shall not affect the construction hereof.

     Section 13.13 Indenture May Be Executed in Counterparts. This Indenture may be
executed in any number of counterparts, each of which shall be an original; but such counterparts
shall together constitute but one and the same instrument.

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     The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein
set forth.

[Remainder of This Page Intentionally Left Blank.]

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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.

	 	 	 	 	 
	 	EXTERRAN PARTNERS, L.P.

 	 
	 	By:  	Exterran General Partner, L.P.,
 	 
	 	 	its General Partner 	 
	 	 	 
	 	By:  	                    Exterran GP LLC,
 	 
	 	 	its General Partner 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	[                                        ], as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Signature Page to Senior Indenture]

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