Document:

Exhibit 4.8

    

    AGFEED
INDUSTRIES, INC.,

    Issuer

    AND

    

    [Trustee],

    Trustee

    
      
        
INDENTURE

    

    

    Dated as
of [     ], 20__ 

     

    
      

    

     

    Senior
Debt Securities

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Table Of
Contents

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  
                                                                                                                    
                                                                                                                      
                                                                                                                        
                                                                                                                          
                                                                                                                            
                                                                                                                              
                                                                                                                                
                                                                                                                                  
                                                                                                                                    
                                                                                                                                      	 
      	
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                                                                                                                                              ARTICLE
      1. DEFINITIONS

                                                                                                                                            	
                                                                                                                                              1

                                                                                                                                            
	 	 
	
                                                                                                                                              1.01           Section
      1.01 Definitions of Terms.

                                                                                                                                            	
                                                                                                                                              1

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      2. ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE
      OF
   SECURITIES

                                                                                                                                            	
                                                                                                                                              4

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      2.01 Designation and Terms of Securities.

                                                                                                                                            	
                                                                                                                                              4

                                                                                                                                            
	
                                                                                                                                              Section
      2.02 Form of Securities and Trustee’s Certificate.

                                                                                                                                            	
                                                                                                                                              6

                                                                                                                                            
	
                                                                                                                                              Section
      2.03 Denominations: Provisions for Payment.

                                                                                                                                            	
                                                                                                                                              6

                                                                                                                                            
	
                                                                                                                                              Section
      2.04 Execution and Authentications.

                                                                                                                                            	
                                                                                                                                              7

                                                                                                                                            
	
                                                                                                                                              Section
      2.05 Registration of Transfer and Exchange.

                                                                                                                                            	
                                                                                                                                              7

                                                                                                                                            
	
                                                                                                                                              Section
      2.06 Temporary Securities.

                                                                                                                                            	
                                                                                                                                              8

                                                                                                                                            
	
                                                                                                                                              Section
      2.07 Mutilated, Destroyed, Lost or Stolen Securities.

                                                                                                                                            	
                                                                                                                                              8

                                                                                                                                            
	
                                                                                                                                              Section
      2.08 Cancellation.

                                                                                                                                            	
                                                                                                                                              9

                                                                                                                                            
	
                                                                                                                                              Section
      2.09 Benefits of Indenture.

                                                                                                                                            	
                                                                                                                                              9

                                                                                                                                            
	
                                                                                                                                              Section
      2.10 Authenticating Agent.

                                                                                                                                            	
                                                                                                                                              9

                                                                                                                                            
	
                                                                                                                                              Section
      2.11 Global Securities.

                                                                                                                                            	
                                                                                                                                              10

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      3. REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

                                                                                                                                            	
                                                                                                                                              10

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      3.01 Redemption.

                                                                                                                                            	
                                                                                                                                              10

                                                                                                                                            
	
                                                                                                                                              Section
      3.02 Notice of Redemption.

                                                                                                                                            	
                                                                                                                                              10

                                                                                                                                            
	
                                                                                                                                              Section
      3.03 Payment Upon Redemption.

                                                                                                                                            	
                                                                                                                                              11

                                                                                                                                            
	
                                                                                                                                              Section
      3.04 Sinking Fund.

                                                                                                                                            	
                                                                                                                                              12

                                                                                                                                            
	
                                                                                                                                              Section
      3.05 Satisfaction of Sinking Fund Payments with
Securities.

                                                                                                                                            	
                                                                                                                                              12

                                                                                                                                            
	
                                                                                                                                              Section
      3.06 Redemption of Securities for Sinking Fund.

                                                                                                                                            	
                                                                                                                                              12

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      4. COVENANTS

                                                                                                                                            	
                                                                                                                                              12

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      4.01 Payment of Principal, Premium and Interest.

                                                                                                                                            	
                                                                                                                                              12

                                                                                                                                            
	
                                                                                                                                              Section
      4.02 Maintenance of Office or Agency.

                                                                                                                                            	
                                                                                                                                              13

                                                                                                                                            
	
                                                                                                                                              Section
      4.03 Paying Agents.

                                                                                                                                            	
                                                                                                                                              13

                                                                                                                                            
	
                                                                                                                                              Section
      4.04 Appointment to Fill Vacancy in Office of Trustee.

                                                                                                                                            	
                                                                                                                                              14

                                                                                                                                            
	
                                                                                                                                              Section
      4.05 Compliance with Consolidation Provisions.

                                                                                                                                            	
                                                                                                                                              14

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      5. SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
      TRUSTEE

                                                                                                                                            	
                                                                                                                                              14

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

                                                                                                                                            	
                                                                                                                                              14

                                                                                                                                            
	
                                                                                                                                              Section
      5.02 Preservation Of Information; Communications With
      Securityholders.

                                                                                                                                            	
                                                                                                                                              14

                                                                                                                                            
	
                                                                                                                                              Section
      5.03 Reports by the Company.

                                                                                                                                            	
                                                                                                                                              14

                                                                                                                                            
	
                                                                                                                                              Section
      5.04 Reports by the Trustee.

                                                                                                                                            	
                                                                                                                                              15

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      6. REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
      DEFAULT

                                                                                                                                            	
                                                                                                                                              15

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      6.01 Events of Default.

                                                                                                                                            	
                                                                                                                                              15

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

                                                                                                                                            	
                                                                                                                                              16

                                                                                                                                            
	
                                                                                                                                              Section
      6.03 Application of Monies Collected.

                                                                                                                                            	
                                                                                                                                              17

                                                                                                                                            
	
                                                                                                                                              Section
      6.04 Limitation on Suits.

                                                                                                                                            	
                                                                                                                                              18

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

                                                                                                                                            	
                                                                                                                                              18

                                                                                                                                            
	
                                                                                                                                              Section
      6.06 Control by Securityholders.

                                                                                                                                            	
                                                                                                                                              19

                                                                                                                                            
	
                                                                                                                                              Section
      6.07 Undertaking to Pay Costs.

                                                                                                                                            	
                                                                                                                                              19

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      7. CONCERNING THE TRUSTEE

                                                                                                                                            	
                                                                                                                                              19

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      7.01 Certain Duties and Responsibilities of Trustee.

                                                                                                                                            	
                                                                                                                                              19

                                                                                                                                            
	
                                                                                                                                              Section
      7.02 Certain Rights of Trustee.

                                                                                                                                            	
                                                                                                                                              20

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

                                                                                                                                            	
                                                                                                                                              21

                                                                                                                                            

                                                                                                                                    

                                                                                                                                  

                                                                                                                                

                                                                                                                              

                                                                                                                            

                                                                                                                          

                                                                                                                        

                                                                                                                      

                                                                                                                    

                                                                                                                  

                                                                                                                

                                                                                                              

                                                                                                            

                                                                                                          

                                                                                                        

                                                                                                      

                                                                                                    

                                                                                                  

                                                                                                

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  
                                                                                                                    
                                                                                                                      
                                                                                                                        
                                                                                                                          
                                                                                                                            
                                                                                                                              
                                                                                                                                
                                                                                                                                  
                                                                                                                                    
                                                                                                                                      	
                                                                                                                                              Section
      7.04 May Hold Securities.

                                                                                                                                            	
                                                                                                                                              21

                                                                                                                                            
	
                                                                                                                                              Section
      7.05 Monies Held in Trust.

                                                                                                                                            	
                                                                                                                                              21

                                                                                                                                            
	
                                                                                                                                              Section
      7.06 Compensation and Reimbursement.

                                                                                                                                            	
                                                                                                                                              21

                                                                                                                                            
	
                                                                                                                                              Section
      7.07 Reliance on Officers’ Certificate.

                                                                                                                                            	
                                                                                                                                              22

                                                                                                                                            
	
                                                                                                                                              Section
      7.08 Disqualification; Conflicting Interests.

                                                                                                                                            	
                                                                                                                                              22

                                                                                                                                            
	
                                                                                                                                              Section
      7.09 Corporate Trustee Required; Eligibility.

                                                                                                                                            	
                                                                                                                                              22

                                                                                                                                            
	
                                                                                                                                              Section
      7.10 Resignation and Removal; Appointment of Successor.

                                                                                                                                            	
                                                                                                                                              22

                                                                                                                                            
	
                                                                                                                                              Section
      7.11 Acceptance of Appointment By Successor.

                                                                                                                                            	
                                                                                                                                              23

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

                                                                                                                                            	
                                                                                                                                              24

                                                                                                                                            
	
                                                                                                                                              Section
      7.13 Preferential Collection of Claims Against the
Company.

                                                                                                                                            	
                                                                                                                                              24

                                                                                                                                            
	
                                                                                                                                              Section
      7.14 Notice of Default

                                                                                                                                            	
                                                                                                                                              25

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      8. CONCERNING THE SECURITYHOLDERS

                                                                                                                                            	
                                                                                                                                              25

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      8.01 Evidence of Action by Securityholders.

                                                                                                                                            	
                                                                                                                                              25

                                                                                                                                            
	
                                                                                                                                              Section
      8.02 Proof of Execution by Securityholders.

                                                                                                                                            	
                                                                                                                                              25

                                                                                                                                            
	
                                                                                                                                              Section
      8.03 Who May be Deemed Owners.

                                                                                                                                            	
                                                                                                                                              25

                                                                                                                                            
	
                                                                                                                                              Section
      8.04 Certain Securities Owned by Company Disregarded.

                                                                                                                                            	
                                                                                                                                              26

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      9. SUPPLEMENTAL INDENTURES

                                                                                                                                            	
                                                                                                                                              26

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      9.01 Supplemental Indentures Without the Consent of
      Securityholders.

                                                                                                                                            	
                                                                                                                                              26

                                                                                                                                            
	
                                                                                                                                              Section
      9.02 Supplemental Indentures With Consent of
    Securityholders.

                                                                                                                                            	
                                                                                                                                              27

                                                                                                                                            
	
                                                                                                                                              Section
      9.03 Effect of Supplemental Indentures.

                                                                                                                                            	
                                                                                                                                              27

                                                                                                                                            
	
                                                                                                                                              Section
      9.04 Securities Affected by Supplemental Indentures.

                                                                                                                                            	
                                                                                                                                              28

                                                                                                                                            
	
                                                                                                                                              Section
      9.05 Execution of Supplemental Indentures.

                                                                                                                                            	
                                                                                                                                              28

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      10. SUCCESSOR ENTITY

                                                                                                                                            	
                                                                                                                                              28

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      10.01 Company May Consolidate, Etc.

                                                                                                                                            	
                                                                                                                                              28

                                                                                                                                            
	
                                                                                                                                              Section
      10.02 Successor Entity Substituted.

                                                                                                                                            	
                                                                                                                                              29

                                                                                                                                            
	
                                                                                                                                              Section
      10.03 Evidence of Consolidation, Etc. to Trustee.

                                                                                                                                            	
                                                                                                                                              29

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      11. SATISFACTION AND DISCHARGE

                                                                                                                                            	
                                                                                                                                              29

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      11.01 Satisfaction and Discharge of Indenture.

                                                                                                                                            	
                                                                                                                                              29

                                                                                                                                            
	
                                                                                                                                              Section
      11.02 Discharge of Obligations.

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	
                                                                                                                                              Section
      11.03 Deposited Monies to be Held in Trust.

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	
                                                                                                                                              Section
      11.04 Payment of Monies Held by Paying Agents.

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	
                                                                                                                                              Section
      11.05 Repayment to Company.

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      12. IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
      DIRECTORS

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      12.01 No Recourse.

                                                                                                                                            	
                                                                                                                                              30

                                                                                                                                            
	 	 
	
                                                                                                                                              ARTICLE
      13. MISCELLANEOUS PROVISIONS

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	 	 
	
                                                                                                                                              Section
      13.01 Effect on Successors and Assigns.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.02 Actions by Successor.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.03 Surrender of Company Powers.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.04 Notices.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.05 Governing Law.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.06 Treatment of Securities as Debt.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.07 Certificates and Opinions as to Conditions
Precedent.

                                                                                                                                            	
                                                                                                                                              31

                                                                                                                                            
	
                                                                                                                                              Section
      13.08 Payments on Business Days.

                                                                                                                                            	
                                                                                                                                              32

                                                                                                                                            

                                                                                                                                    

                                                                                                                                  

                                                                                                                                

                                                                                                                              

                                                                                                                            

                                                                                                                          

                                                                                                                        

                                                                                                                      

                                                                                                                    

                                                                                                                  

                                                                                                                

                                                                                                              

                                                                                                            

                                                                                                          

                                                                                                        

                                                                                                      

                                                                                                    

                                                                                                  

                                                                                                

                                                                                              

                                                                                            

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    INDENTURE

     

    
      Indenture,
dated as of
[                 ],
20__, among AGFEED INDUSTRIES, INC., a Nevada corporation (the “Company”),
and [Trustee], as trustee (the “Trustee”):

    

     

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

    

     

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

    

     

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

    

     

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

    

     

    ARTICLE
1.

    DEFINITIONS

     

    Section 1.01           Definitions of
Terms.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Company” means Agfeed
Industries, Inc., a corporation duly organized and existing under the laws of
the State of Nevada, and, subject to the provisions of Article Ten, shall
also include its successors and assigns.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    “Corporate Trust Office”
means the office of the Trustee at which, at any particular time, its corporate
trust business shall be principally administered, which office at the date
hereof is located at [                    ].

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Indenture” means this
instrument as originally executed or as it may from time to time be supplemented
or amended by one or more indentures supplemental hereto entered into in
accordance with the terms hereof.

     

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

     

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

     

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

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

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

     

    “Outstanding,” when used with
reference to Securities of any series, means, subject to the provisions of
Section 8.04, as of any particular time, all Securities of that series
theretofore authenticated and delivered by the Trustee under this Indenture,
except (a) Securities theretofore canceled by the Trustee or any paying
agent, or delivered to the Trustee or any paying agent for cancellation or that
have previously been canceled; (b) Securities or portions thereof for the
payment or redemption of which monies or Governmental Obligations in the
necessary amount shall have been deposited in trust with the Trustee or with any
paying agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own paying
agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article Three provided, or provision
satisfactory to the Trustee shall have been made for giving such notice; and
(c) Securities in lieu of or in substitution for which other Securities
shall have been authenticated and delivered pursuant to the terms of
Section 2.07.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

    ARTICLE
2.

    ISSUE,
DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND

    EXCHANGE
OF SECURITIES

     

    Section 2.01           Designation and Terms of
Securities.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

    (15)           any
additional or different Events of Default or restrictive covenants (which may
include, among other restrictions, restrictions on the Company’s ability or the
ability of the Company’s Subsidiaries to: incur additional indebtedness; issue
additional securities; create liens; pay dividends or make distributions in
respect of their capital stock; redeem capital stock; place restrictions on such
Subsidiaries placing restrictions on their ability to pay dividends, make
distributions or transfer assets; make investments or other restricted payments;
sell or otherwise dispose of assets; enter into sale-leaseback transactions;
engage in transactions with stockholders and affiliates; issue or sell stock of
their Subsidiaries; or effect a consolidation or merger) or financial covenants
(which may include, among other financial covenants, financial covenants that
require the Company and its Subsidiaries to maintain specified interest
coverage, fixed charge, cash flow-based or asset-based ratios) provided for with
respect to the Securities of the series;

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    Section 2.02           Form of Securities and
Trustee’s Certificate.

     

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

     

    Section 2.03           Denominations: Provisions
for Payment.

     

    The
Securities shall be issuable as registered Securities and in the denominations
of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject
to Section 2.01(a)(10). The Securities of a particular series shall bear
interest payable on the dates and at the rate specified with respect to that
series. Subject to Section 2.01(a)(16), the principal of and the interest
on the Securities of any series, as well as any premium thereon in case of
redemption thereof prior to maturity, shall be payable in the coin or currency
of the United States of America that at the time is legal tender for public and
private debt, at the office or agency of the Company maintained for that
purpose. Each Security shall be dated the date of its authentication. Interest
on the Securities shall be computed on the basis of a 360-day year composed of
twelve 30-day months.

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

    Section 2.04           Execution and
Authentications.

     

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

     

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

     

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

     

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

     

    The
Trustee shall not be required to authenticate such Securities if the issue of
such Securities pursuant to this Indenture will affect the Trustee’s own rights,
duties or immunities under the Securities and this Indenture or otherwise in a
manner that is not reasonably acceptable to the Trustee.

     

    Section 2.05           Registration of Transfer and
Exchange.

     

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

     

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

    
      
         

      

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

     

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

     

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

     

    (d)           The
Company shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business
15 days before the day of the mailing of a notice of redemption of less
than all the Outstanding Securities of the same series and ending at the close
of business on the day of such mailing, nor (ii) to register the transfer
of or exchange any Securities of any series or portions thereof called for
redemption, other than the unredeemed portion of any such Securities being
redeemed in part. The provisions of this Section 2.05 are, with respect to
any Global Security, subject to Section 2.11 hereof.

     

    Section 2.06           Temporary
Securities.

     

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

     

    Section 2.07           Mutilated, Destroyed, Lost
or Stolen Securities.

     

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

    
      
         

      

      
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    In case any Security that has matured
or is about to mature shall become mutilated or be destroyed, lost or stolen,
the Company may, instead of issuing a substitute Security, pay or authorize the
payment of the same (without surrender thereof except in the case of a mutilated
Security) if the applicant for such payment shall furnish to the Company and the
Trustee such security or indemnity as they may require to save them harmless,
and, in case of destruction, loss or theft, evidence to the satisfaction of the
Company and the Trustee of the destruction, loss or theft of such Security and
of the ownership thereof.

     

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

     

    Section 2.08           Cancellation.

     

    All Securities surrendered for the
purpose of payment, redemption, exchange or registration of transfer shall, if
surrendered to the Company or any paying agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and
no Securities shall be issued in lieu thereof except as expressly required or
permitted by any of the provisions of this Indenture. On request of the Company
at the time of such surrender, the Trustee shall deliver to the Company canceled
Securities held by the Trustee. In the absence of such request the Trustee may
dispose of canceled Securities in accordance with its standard procedures and
deliver a certificate of disposition to the Company. If the Company shall
otherwise acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such
Securities unless and until the same are delivered to the Trustee for
cancellation.

     

    Section 2.09           Benefits of
Indenture.

     

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

     

    Section 2.10           Authenticating
Agent.

     

    So long as any of the Securities of any
series remain Outstanding there may be an Authenticating Agent for any or all
such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or partial
redemption thereof, and Securities so authenticated shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes as
if authenticated by the Trustee hereunder. All references in this Indenture to
the authentication of Securities by the Trustee shall be deemed to include
authentication by an Authenticating Agent for such series. Each Authenticating
Agent shall be acceptable to the Company and shall be a corporation that has a
combined capital and surplus, as most recently reported or determined by it,
sufficient under the laws of any jurisdiction under which it is organized or in
which it is doing business to conduct a trust business, and that is otherwise
authorized under such laws to conduct such business and is subject to
supervision or examination by federal or state authorities. If at any time any
Authenticating Agent shall cease to be eligible in accordance with these
provisions, it shall resign immediately.

    
      
         

      

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

     

    Section 2.11           Global
Securities.

     

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

     

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

     

    (c)           If
at any time the Depositary for a series of the Securities notifies the Company
that it is unwilling or unable to continue as Depositary for such series or if
at any time the Depositary for such series shall no longer be registered or in
good standing under the Exchange Act, or other applicable statute or regulation,
and a successor Depositary for such series is not appointed by the Company
within 90 days after the Company receives such notice or becomes aware of
such condition, as the case may be, or if an Event of Default has occurred and
is continuing and the Company has received a request from the Depositary, this
Section 2.11 shall no longer be applicable to the Securities of such series
and the Company will execute, and subject to Section 2.04, the Trustee will
authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in
exchange for such Global Security. In addition, the Company may at any time
determine that the Securities of any series shall no longer be represented by a
Global Security and that the provisions of this Section 2.11 shall no
longer apply to the Securities of such series. In such event the Company will
execute and, subject to Section 2.04, the Trustee, upon receipt of an
Officers’ Certificate evidencing such determination by the Company, will
authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in
exchange for such Global Security. Upon the exchange of the Global Security for
such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such
Securities in definitive registered form issued in exchange for the Global
Security pursuant to this Section 2.11(c) shall be registered in such names
and in such authorized denominations as the Depositary, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the
Trustee. The Trustee shall deliver such Securities to the Depositary for
delivery to the Persons in whose names such Securities are so
registered.

     

    ARTICLE
3.

    REDEMPTION
OF SECURITIES AND SINKING FUND PROVISIONS

     

    Section 3.01           Redemption.

     

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

     

    
      
        
        

      

      
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    Section 3.02           Notice of
Redemption.

     

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

     

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

     

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

     

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

     

    Section 3.03           Payment Upon
Redemption.

     

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

    
      
         

      

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

     

    Section 3.04           Sinking
Fund.

     

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

     

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

     

    Section 3.05           Satisfaction of Sinking Fund
Payments with Securities.

     

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

     

    Section 3.06           Redemption of Securities for
Sinking Fund.

     

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

     

    ARTICLE
4.

    COVENANTS

     

    Section 4.01           Payment of Principal,
Premium and Interest.

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

     

    
      
        
        

      

      
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    Section 4.02           Maintenance of Office or
Agency.

     

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

     

    Section 4.03           Paying
Agents.

     

    (a)           If
the Company shall appoint one or more paying agents for all or any series of the
Securities, other than the Trustee, the Company will cause each such paying
agent to execute and deliver to the Trustee an instrument in which such agent
shall agree with the Trustee, subject to the provisions of this
Section:

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

    Section 4.04           Appointment to Fill Vacancy
in Office of Trustee.

     

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

     

    Section 4.05           Compliance
with Consolidation Provisions.

     

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

     

    ARTICLE
5.

    SECURITYHOLDERS’
LISTS AND REPORTS BY THE COMPANY AND

    THE
TRUSTEE

     

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

     

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

     

    Section 5.02           Preservation Of Information;
Communications With Securityholders.

     

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

     

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

     

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

     

    Section 5.03           Reports by the
Company.

     

    The Company covenants and agrees to
provide a copy to the Trustee, after the Company files the same with the
Securities and Exchange Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the Securities and Exchange Commission may from time to time by
rules and regulations prescribe) that the Company files with the Securities and
Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange
Act; provided, however, the Company shall not be required to deliver to the
Trustee any materials for which the Company has sought and received confidential
treatment by the Securities and Exchange Commission.

     

    
      
         

      

      
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    Section 5.04           Reports by the
Trustee.

     

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

     

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

     

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

     

    ARTICLE
6.

    REMEDIES
OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

     

    Section 6.01           Events of
Default.

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

    (c)           At
any time after the principal of (and premium, if any, on) and accrued and unpaid
interest on the Securities of that series shall have been so declared due and
payable, and before any judgment or decree for the payment of the monies due
shall have been obtained or entered as hereinafter provided, the holders of a
majority in aggregate principal amount of the Securities of that series then
Outstanding hereunder, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if: (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured
installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon
such principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate per annum expressed in the Securities of that series to the date of such
payment or deposit) and the amount payable to the Trustee under
Section 7.06, and (ii) any and all Events of Default under the
Indenture with respect to such series, other than the nonpayment of principal on
(and premium, if any, on) and accrued and unpaid interest on Securities of that
series that shall not have become due by their terms, shall have been remedied
or waived as provided in Section 6.06.

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

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

     

    Section 6.03           Application of Monies
Collected.

     

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

     

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

     

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

    
      
         

      

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

     

    Section 6.04           Limitation on
Suits.

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    Section 6.06           Control by
Securityholders.

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

     

    Section 6.07           Undertaking to Pay
Costs.

     

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

     

    ARTICLE
7.

    CONCERNING
THE TRUSTEE

     

    Section 7.01           Certain Duties and
Responsibilities of Trustee.

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

    Section 7.02           Certain Rights of
Trustee.

     

    Except as otherwise provided in
Section 7.01:

     

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

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

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

     

    (c)           The
Trustee shall not be accountable for the use or application by the Company of
any of the Securities or of the proceeds of such Securities, or for the use or
application of any monies paid over by the Trustee in accordance with any
provision of this Indenture or established pursuant to Section 2.01, or for
the use or application of any monies received by any paying agent other than the
Trustee.

     

    Section 7.04           May Hold
Securities.

     

    The Trustee or any paying agent or
Security Registrar, in its individual or any other capacity, may become the
owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.

     

    Section 7.05           Monies Held in
Trust.

     

    Subject to the provisions of
Section 11.05, all monies 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
monies received by it hereunder except such as it may agree with the Company to
pay thereon.

     

    Section 7.06           Compensation and
Reimbursement.

     

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

    
      
         

      

      
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    (b)           The
obligations of the Company under this Section to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for reasonable expenses,
disbursements and advances shall constitute additional indebtedness hereunder.
Such additional indebtedness shall be secured by a lien prior to that of the
Securities upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the benefit of the holders of particular
Securities.

     

    Section 7.07           Reliance on Officers’
Certificate.

     

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

     

    Section 7.08           Disqualification;
Conflicting Interests.

     

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

     

    Section 7.09           Corporate Trustee Required;
Eligibility.

     

    There shall at all times be a Trustee
with respect to the Securities issued hereunder which shall at all times be a
corporation organized and doing business under the laws of the United States of
America or any state or territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the Securities and
Exchange Commission, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least fifty million U.S.
dollars ($50,000,000), and subject to supervision or examination by federal,
state, territorial, or District of Columbia authority.

     

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

     

    Section 7.10           Resignation and Removal;
Appointment of Successor.

     

    (a)           The
Trustee or any successor hereafter appointed may at any time resign with respect
to the Securities of one or more series by giving written notice thereof to the
Company and by transmitting notice of resignation by mail, first class postage
prepaid, to the Securityholders of such series, as their names and addresses
appear upon the Security Register.  Upon receiving such notice of
resignation, the Company shall promptly appoint a successor trustee with respect
to Securities of such series by written instrument, in duplicate, executed by
order of the Board of Directors, one copy of which instrument shall be delivered
to the resigning Trustee and one copy to the successor trustee. If no successor
trustee shall have been so appointed and have accepted appointment within
30 days after the mailing of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment of
a successor trustee with respect to Securities of such series, or any
Securityholder of that series who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem
proper and prescribe, appoint a successor trustee.

    
      
         

      

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

     

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

     

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

     

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

     

    then, in any such case, the Company may
remove the Trustee with respect to all Securities and appoint a successor
trustee by written instrument, in duplicate, executed by order of the Board of
Directors, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee, or any Securityholder who has
been a bona fide holder of a Security or Securities for at least six months may,
on behalf of that holder and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of
a successor trustee. Such court may thereupon after such notice, if any, as it
may deem proper and prescribe, remove the Trustee and appoint a successor
trustee.

     

    (c)           The
holders of a majority in aggregate principal amount of the Securities of any
series at the time Outstanding may at any time remove the Trustee with respect
to such series by so notifying the Trustee and the Company and may appoint a
successor Trustee for such series with the consent of the Company.

     

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

     

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

     

    Section 7.11           Acceptance of Appointment By
Successor.

     

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

    
      
         

      

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

     

    (c)           Upon
request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor trustee all such rights, powers and trusts referred to in paragraph
(a) or (b) of this Section, as the case may be.

     

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

     

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

     

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

     

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

     

    Section 7.13           Preferential Collection of
Claims Against the Company.

     

    The Trustee shall comply with Section
311(a) of the Trust Indenture Act, excluding any creditor relationship described
in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been
removed shall be subject to Section 311(a) of the Trust Indenture Act to the
extent included therein.

     

    
      
        
        

      

      
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    Section 7.14           Notice of
Default

     

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

     

    ARTICLE
8.

    CONCERNING
THE SECURITYHOLDERS

     

    Section 8.01          Evidence of Action by
Securityholders.

     

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

     

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

     

    Section 8.02           Proof of Execution by
Securityholders.

     

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

     

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

     

    (b)           The
ownership of Securities shall be proved by the Security Register of such
Securities or by a certificate of the Security Registrar thereof.  The
Trustee may require such additional proof of any matter referred to in this
Section as it shall deem necessary.

     

    Section 8.03           Who May be Deemed
Owners.

     

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

    
      
         

      

      
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    Section 8.04           Certain Securities Owned by
Company Disregarded.

     

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

     

    Section 8.05           Actions Binding on Future
Securityholders.

     

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

     

    ARTICLE
9.

    SUPPLEMENTAL
INDENTURES

     

    Section 9.01           Supplemental Indentures
Without the Consent of Securityholders.

     

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

     

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

     

    (b)           to
comply with Article Ten;

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    Section 9.02           Supplemental Indentures With
Consent of Securityholders.

     

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

     

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

     

    Section 9.03           Effect of Supplemental
Indentures.

     

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

     

     

    
      
        
        

      

      
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    Section 9.04           Securities Affected by
Supplemental Indentures.

     

    Securities of any series affected by a
supplemental indenture, authenticated and delivered after the execution of such
supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company,
provided such form meets the requirements of any securities exchange upon which
such series may be listed, as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors, to any
modification of this Indenture contained in any such supplemental indenture may
be prepared by the Company, authenticated by the Trustee and delivered in
exchange for the Securities of that series then Outstanding.

     

    Section 9.05           Execution of Supplemental
Indentures.

     

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

     

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

     

    ARTICLE
10.

    SUCCESSOR
ENTITY

     

    Section 10.01          Company May Consolidate,
Etc.

     

    Except as provided pursuant to
Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’
Certificate, or established in one or more indentures supplemental to this
Indenture, nothing contained in this Indenture shall prevent any consolidation
or merger of the Company with or into any other Person (whether or not
affiliated with the Company) or successive consolidations or mergers in which
the Company or its successor or successors shall be a party or parties, or shall
prevent any sale, conveyance, transfer or other disposition of the property of
the Company or its successor or successors as an entirety, or substantially as
an entirety, to any other corporation (whether or not affiliated with the
Company or its successor or successors) authorized to acquire and operate the
same; provided, however, (a) the Company hereby covenants and agrees that,
upon any such consolidation or merger (in each case, if the Company is not the
survivor of such transaction), sale, conveyance, transfer or other disposition,
the due and punctual payment of the principal of (premium, if any) and interest
on all of the Securities of all series in accordance with the terms of each
series, according to their tenor, and the due and punctual performance and
observance of all the covenants and conditions of this Indenture with respect to
each series or established with respect to such series pursuant to
Section 2.01 to be kept or performed by the Company shall be expressly
assumed, by supplemental indenture (which shall conform to the provisions of the
Trust Indenture Act, as then in effect) reasonably satisfactory in form to the
Trustee executed and delivered to the Trustee by the entity formed by such
consolidation, or into which the Company shall have been merged, or by the
entity which shall have acquired such property and (b) in the event that
the Securities of any series then Outstanding are convertible into or
exchangeable for shares of common stock or other securities of the Company, such
entity shall, by such supplemental indenture, make provision so that the
Securityholders of Securities of that series shall thereafter be entitled to
receive upon conversion or exchange of such Securities the number of securities
or property to which a holder of the number of shares of common stock or other
securities of the Company deliverable upon conversion or exchange of those
Securities would have been entitled had such conversion or exchange occurred
immediately prior to such consolidation, merger, sale, conveyance, transfer or
other disposition.

    
      
         

      

      
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    Section 10.02         Successor Entity
Substituted.

     

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

     

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

     

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

     

    Section 10.03         Evidence of Consolidation,
Etc. to Trustee.

     

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

     

    ARTICLE
11.

    SATISFACTION
AND DISCHARGE

     

    Section 11.01         Satisfaction and Discharge
of Indenture.

     

    If at any time:

     

    (a)           the
Company shall have delivered to the Trustee for cancellation all Securities of a
series theretofore authenticated and not delivered to the Trustee for
cancellation (other than any Securities that shall have been destroyed, lost or
stolen and that shall have been replaced or paid as provided in
Section 2.07 and Securities for whose payment money or Governmental
Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company and thereupon repaid to the Company or discharged from such
trust, as provided in Section 11.05); or

     

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

     

    
      
        
        

      

      
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    Section 11.02         Discharge of
Obligations.

     

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

     

    Section 11.03         Deposited Monies to be Held
in Trust.

     

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

     

    Section 11.04         Payment of Monies Held by
Paying Agents.

     

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

     

    Section 11.05         Repayment to
Company.

     

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

     

    ARTICLE
12.

    IMMUNITY
OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

     

    Section 12.01         No
Recourse.

     

    No recourse under or upon any
obligation, covenant or agreement of this Indenture, or of any Security, or for
any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, past, present or future as
such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or successor
corporation, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely
corporate obligations, and that no such personal liability whatever shall attach
to, or is or shall be incurred by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom;
and that any and all such personal liability of every name and nature, either at
common law or in equity or by constitution or statute, of, and any and all such
rights and claims against, every such incorporator, stockholder, officer or
director as such, because of the creation of the indebtedness hereby authorized,
or under or by reason of the obligations, covenants or agreements contained in
this Indenture or in any of the Securities or implied therefrom, are hereby
expressly waived and released as a condition of, and as a consideration for, the
execution of this Indenture and the issuance of such
Securities.

    
      
         

      

      
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    ARTICLE
13.

    MISCELLANEOUS
PROVISIONS

     

    Section 13.01         Effect on Successors and
Assigns.

     

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

     

    Section 13.02         Actions by
Successor.

     

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

     

    Section 13.03         Surrender of Company
Powers.

     

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

     

    Section 13.04         Notices.

     

    Except as otherwise expressly provided
herein, any notice, request or demand that by any provision of this Indenture is
required or permitted to be given, made or served by the Trustee or by the
holders of Securities or by any other Person pursuant to this Indenture to or on
the Company may be given or served by being deposited in first class mail,
postage prepaid, addressed (until another address is filed in writing by the
Company with the Trustee), as follows: Rm A1001-1002, Tower 16, Hengmao
International Center, 333 South Guangchang Road, Nanchang, Jiangzi Province, PRL
330003, Attention: Corporate Secretary, with copy to Buchanan Ingersoll &
Rooney, Two Liberty Place, 50 S. 16th Street, Suite 3200, Philadelphia, PA
19102-2555, Attention:  William W. Uchimoto, Esquire.

     

    Any notice, election, request or demand
by the Company or any Securityholder or by any other Person pursuant to this
Indenture to or upon the Trustee shall be deemed to have been sufficiently given
or made, for all purposes, if given or made in writing at the Corporate Trust
Office of the Trustee.

     

    Section 13.05         Governing
Law.

     

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

     

    Section 13.06         Treatment of Securities as
Debt.

     

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

     

    
      
        
        

      

      
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    Section 13.07         Certificates and Opinions as
to Conditions Precedent.

     

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

     

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

     

    Section 13.08          Payments on Business
Days.

     

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

     

    Section 13.09         Conflict with Trust
Indenture Act.

     

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

     

    Section 13.10         Counterparts.

     

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

     

    Section 13.11         Separability.

     

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

     

    Section 13.12         Compliance
Certificates.

     

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

     

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    
      In
Witness Whereof, the parties hereto have caused this Indenture to be duly
executed all as of the day and year first above written.

    

     

    

     

    
      
        	
                AGFEED
      INDUSTRIES, INC.

              
	 
      
	
                By:
      ______________________________

              
	
                Name:
      ____________________________

              
	
                Title:
      _____________________________

              
	 
      
	
                [Trustee],
      as Trustee

              
	 
      
	
                By:
      ______________________________

              
	
                Name:
      ____________________________

              
	
                Title:
      _____________________________

              

      

    

     

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

    CROSS-REFERENCE
TABLE (1)

     

    
      
        
          	
                  Section
      of Trust Indenture Act of 1939

                	 
      	
                  Section
      of Indenture

                
	
                  310(a)

                	 
      	
                  7.09

                
	
                  310(b)

                	 
      	
                  7.08

                
	 
      	 
      	
                  7.10

                
	
                  310(c)

                	 
      	
                  Inapplicable

                
	
                  311(a)

                	 
      	
                  7.13

                
	
                  311(b)

                	 
      	
                  7.13

                
	
                  311(c)

                	 
      	
                  Inapplicable

                
	
                  312(a)

                	 
      	
                  5.01

                
	 
      	 
      	
                  5.02(a)

                
	
                  312(b)

                	 
      	
                  5.02(c)

                
	
                  312(c)

                	 
      	
                  5.02(c)

                
	
                  313(a)

                	 
      	
                  5.04(a)

                
	
                  313(b)

                	 
      	
                  5.04(b)

                
	
                  313(c)

                	 
      	
                  5.04(a)

                
	 
      	 
      	
                  5.04(b)

                
	
                  313(d)

                	 
      	
                  5.04(c)

                
	
                  314(a)

                	 
      	
                  5.03

                
	 
      	 
      	
                  13.12

                
	
                  314(b)

                	 
      	
                  Inapplicable

                
	
                  314(c)

                	 
      	
                  13.07(a)

                
	
                  314(d)

                	 
      	
                  Inapplicable

                
	
                  314(e)

                	 
      	
                  13.07(b)

                
	
                  314(f)

                	 
      	
                  Inapplicable

                
	
                  315(a)

                	 
      	
                  7.01(a)

                
	 
      	 
      	
                  7.01(b)

                
	
                  315(b)

                	 
      	
                  7.14

                
	
                  315(c)

                	 
      	
                  7.01

                
	
                  315(d)

                	 
      	
                  7.01(b)

                
	
                  315(e)

                	 
      	
                  6.07

                
	
                  316(a)

                	 
      	
                  6.06

                
	 
      	 
      	
                  8.04

                
	
                  316(b)

                	 
      	
                  6.04

                
	
                  316(c)

                	 
      	
                  8.01

                
	
                  317(a)

                	 
      	
                  6.02

                
	
                  317(b)

                	 
      	
                  4.03

                
	
                  318(a)

                	 
      	
                  13.09

                

        

      

    

    

    
      	
              (1) 

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

            

    

    
      

        
          
             

          

          
            34Exhibit 4.9

     

    AGFEED
INDUSTRIES, INC.

    Issuer

     

    AND

     

    [Trustee],

    Trustee

     

      
        

      

    

     

    INDENTURE

     

    Dated as
of [           ],
20__

     

    
      
        

      

       

    

    Subordinated
Debt Securities

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Table of
Contents

     

    
      
        
          	 	 	 	
                  Page

                
	 	 
	Article
      1 DEFINITIONS	
                  1

                
	
                  Section
      1.01

                	 	
                  Definitions
      of Terms.

                	
                  1

                
	 
      	 	 
      	 
      
	Article
      2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
      SECURITIES	
                  4

                
	
                  Section
      2.01

                	 	
                  Designation
      and Terms of Securities.

                	
                  4

                
	
                  Section
      2.02

                	 	
                  Form
      of Securities and Trustee’s Certificate.

                	
                  6

                
	
                  Section
      2.03

                	 	
                  Denominations:
      Provisions for Payment.

                	
                  6

                
	
                  Section
      2.04

                	 	
                  Execution
      and Authentications.

                	
                  7

                
	
                  Section
      2.05

                	 	
                  Registration
      of Transfer and Exchange.

                	
                  7

                
	
                  Section
      2.06

                	 	
                  Temporary
      Securities.

                	
                  8

                
	
                  Section
      2.07

                	 	
                  Mutilated,
      Destroyed, Lost or Stolen Securities.

                	
                  8

                
	
                  Section
      2.08

                	 	
                  Cancellation.

                	
                  9

                
	
                  Section
      2.09

                	 	
                  Benefits
      of Indenture.

                	
                  9

                
	
                  Section
      2.10

                	 	
                  Authenticating
      Agent.

                	
                  9

                
	
                  Section
      2.11

                	 	
                  Global
      Securities.

                	
                  10

                
	 
      	 	 
      	 
      
	Article
      3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	
                  10

                
	
                  Section
      3.01

                	 	
                  Redemption.

                	
                  10

                
	
                  Section
      3.02

                	 	
                  Notice
      of Redemption.

                	
                  11

                
	
                  Section
      3.03

                	 	
                  Payment
      Upon Redemption.

                	
                  11

                
	
                  Section
      3.04

                	 	
                  Sinking
      Fund.

                	
                  12

                
	
                  Section
      3.05

                	 	
                  Satisfaction
      of Sinking Fund Payments with Securities.

                	
                  12

                
	
                  Section
      3.06

                	 	
                  Redemption
      of Securities for Sinking Fund.

                	
                  12

                
	 
      	 	 
      	 
      
	Article
      4 COVENANTS	
                  12

                
	
                  Section
      4.01

                	 	
                  Payment
      of Principal, Premium and Interest.

                	
                  12

                
	
                  Section
      4.02

                	 	
                  Maintenance
      of Office or Agency.

                	
                  13

                
	
                  Section
      4.03

                	 	
                  Paying
      Agents.

                	
                  13

                
	
                  Section
      4.04

                	 	
                  Appointment
      to Fill Vacancy in Office of Trustee.

                	
                  14

                
	
                  Section
      4.05

                	 	
                  Compliance
      with Consolidation Provisions.

                	
                  14

                
	 
      	 	 
      	 
      
	Article
      5 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND
      THE TRUSTEE	
                  14

                
	
                  Section
      5.01

                	 	
                  Company
      to Furnish Trustee Names and Addresses of Securityholders.

                	
                  14

                
	
                  Section
      5.02

                	 	
                  Preservation
      Of Information; Communications With Securityholders.

                	
                  14

                
	
                  Section
      5.03

                	 	
                  Reports
      by the Company.

                	
                  15

                
	
                  Section
      5.04

                	 	
                  Reports
      by the Trustee.

                	
                  15

                
	 
      	 	 
      	 
      
	Article
      6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
DEFAULT	
                  15

                
	
                  Section
      6.01

                	 	
                  Events
      of Default.

                	
                  15

                
	
                  Section
      6.02

                	 	
                  Collection
      of Indebtedness and Suits for Enforcement by Trustee.

                	
                  16

                
	
                  Section
      6.03

                	 	
                  Application
      of Monies Collected.

                	
                  17

                
	
                  Section
      6.04

                	 	
                  Limitation
      on Suits.

                	
                  18

                
	
                  Section
      6.05

                	 	
                  Rights
      and Remedies Cumulative; Delay or Omission Not Waiver.

                	
                  18

                
	
                  Section
      6.06

                	 	
                  Control
      by Securityholders.

                	
                  18

                
	
                  Section
      6.07

                	 	
                  Undertaking
      to Pay Costs.

                	
                  19

                
	 
      	 	 
      	 
      
	Article
      7 CONCERNING THE TRUSTEE	
                  19

                
	
                  Section
      7.01

                	 	
                  Certain
      Duties and Responsibilities of Trustee.

                	
                  19

                
	
                  Section
      7.02

                	 	
                  Certain
      Rights of Trustee.

                	
                  20

                
	
                  Section
      7.03

                	 	
                  Trustee
      Not Responsible for Recitals or Issuance or Securities.

                	
                  21

                
	
                  Section
      7.04

                	 	
                  May
      Hold Securities.

                	
                  21

                

           

          
            
              
              

            

            
              i

              
                

              

            

            
              
              

            

          

           

          
            	
                    Section
      7.05

                  	 	
                    Monies
      Held in Trust.

                  	
                    21

                  
	
                    Section
      7.06

                  	 	
                    Compensation
      and Reimbursement.

                  	
                    21

                  
	
                    Section
      7.07

                  	 	
                    Reliance
      on Officers’ Certificate.

                  	
                    22

                  
	
                    Section
      7.08

                  	 	
                    Disqualification;
      Conflicting Interests.

                  	
                    22

                  
	
                    Section
      7.09

                  	 	
                    Corporate
      Trustee Required; Eligibility.

                  	
                    22

                  
	
                    Section
      7.10

                  	 	
                    Resignation
      and Removal; Appointment of Successor.

                  	
                    22

                  
	
                    Section
      7.11

                  	 	
                    Acceptance
      of Appointment By Successor.

                  	
                    23

                  
	
                    Section
      7.12

                  	 	
                    Merger,
      Conversion, Consolidation or Succession to Business.

                  	
                    24

                  
	
                    Section
      7.13

                  	 	
                    Preferential
      Collection of Claims Against the Company.

                  	
                    24

                  
	
                    Section
      7.14

                  	 	
                    Notice
      of Default

                  	
                    25

                  
	 
      	 	 
      	 
      
	Article
      8 CONCERNING THE SECURITYHOLDERS	
                    25

                  
	
                    Section
      8.01

                  	 	
                    Evidence
      of Action by Securityholders.

                  	
                    25

                  
	
                    Section
      8.02

                  	 	
                    Proof
      of Execution by Securityholders.

                  	
                    25

                  
	
                    Section
      8.03

                  	 	
                    Who
      May be Deemed Owners.

                  	
                    25

                  
	
                    Section
      8.04

                  	 	
                    Certain
      Securities Owned by Company Disregarded.

                  	
                    26

                  
	
                    Section
      8.05

                  	 	
                    Actions
      Binding on Future Securityholders.

                  	
                    26

                  
	 
      	 	 
      	 
      
	Article
      9 SUPPLEMENTAL INDENTURES	
                    26

                  
	
                    Section
      9.01

                  	 	
                    Supplemental
      Indentures Without the Consent of Securityholders.

                  	
                    26

                  
	
                    Section
      9.02

                  	 	
                    Supplemental
      Indentures With Consent of Securityholders.

                  	
                    27

                  
	
                    Section
      9.03

                  	 	
                    Effect
      of Supplemental Indentures.

                  	
                    27

                  
	
                    Section
      9.04

                  	 	
                    Securities
      Affected by Supplemental Indentures.

                  	
                    28

                  
	
                    Section
      9.05

                  	 	
                    Execution
      of Supplemental Indentures.

                  	
                    28

                  
	 
      	 	 
      	 
      
	Article
      10 SUCCESSOR ENTITY	
                    28

                  
	
                    Section
      10.01

                  	 	
                    Company
      May Consolidate, Etc.

                  	
                    28

                  
	
                    Section
      10.02

                  	 	
                    Successor
      Entity Substituted.

                  	
                    29

                  
	
                    Section
      10.03

                  	 	
                    Evidence
      of Consolidation, Etc. to Trustee.

                  	
                    29

                  
	 
      	 	 
      	
                     
      

                  
	Article
      11 SATISFACTION AND DISCHARGE	
                    29

                  
	
                    Section
      11.01

                  	 	
                    Satisfaction
      and Discharge of Indenture.

                  	
                    29

                  
	
                    Section
      11.02

                  	 	
                    Discharge
      of Obligations.

                  	
                    30

                  
	
                    Section
      11.03

                  	 	
                    Deposited
      Monies to be Held in Trust.

                  	
                    30

                  
	
                    Section
      11.04

                  	 	
                    Payment
      of Monies Held by Paying Agents.

                  	
                    30

                  
	
                    Section
      11.05

                  	 	
                    Repayment
      to Company.

                  	
                    30

                  
	 
      	 	 
      	 
      
	Article
      12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
    DIRECTORS	
                    31

                  
	
                    Section
      12.01

                  	 	
                    No
      Recourse.

                  	
                    31

                  
	 
      	 	 
      	 
      
	Article
      13 MISCELLANEOUS PROVISIONS	
                    31

                  
	
                    Section
      13.01

                  	 	
                    Effect
      on Successors and Assigns.

                  	
                    31

                  
	
                    Section
      13.02

                  	 	
                    Actions
      by Successor.

                  	
                    31

                  
	
                    Section
      13.03

                  	 	
                    Surrender
      of Company Powers.

                  	
                    31

                  
	
                    Section
      13.04

                  	 	
                    Notices.

                  	
                    31

                  
	
                    Section
      13.05

                  	 	
                    Governing
      Law.

                  	
                    31

                  
	
                    Section
      13.06

                  	 	
                    Treatment
      of Securities as Debt.

                  	
                    32

                  
	
                    Section
      13.07

                  	 	
                    Certificates
      and Opinions as to Conditions Precedent.

                  	
                    32

                  
	
                    Section
      13.08

                  	 	
                    Payments
      on Business Days.

                  	
                    32

                  
	
                    Section
      13.09

                  	 	
                    Conflict
      with Trust Indenture Act.

                  	
                    32

                  
	
                    Section
      13.10

                  	 	
                    Counterparts.

                  	
                    32

                  
	
                    Section
      13.11

                  	 	
                    Separability.

                  	
                    32

                  
	
                    Section
      13.12

                  	 	
                    Compliance
      Certificates.

                  	
                    33

                  
	 
      	 	 
      	 
      
	Article
      14 SUBORDINATION OF SECURITIES	
                    33

                  
	
                    Section
      14.01

                  	 	
                    Subordination
      Terms.

                  	
                    33

                  

          

        

      

    

    

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

     

    INDENTURE

     

    

      Indenture,
dated as of [     ], 20__, among AGFEED INDUSTRIES,
INC., a Nevada corporation (the “Company”), and [Trustee], as trustee (the
“Trustee”):

    

     

    

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

    

     

    

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

    

     

    

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

    

     

    

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

    

     

    ARTICLE
1.

    DEFINITIONS

     

    
      
        	
                Section 1.01. 

              	
                Definitions of
      Terms.

              

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Company” means Agfeed
Industries, Inc., a corporation duly organized and existing under the laws of
the State of Nevada, and, subject to the provisions of Article Ten, shall
also include its successors and assigns.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Corporate Trust Office”
means the office of the Trustee at which, at any particular time, its corporate
trust business shall be principally administered, which office at the date
hereof is located at [                    ].

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Indenture” means this
instrument as originally executed or as it may from time to time be supplemented
or amended by one or more indentures supplemental hereto entered into in
accordance with the terms hereof.

     

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

     

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

     

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

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

     

    “Outstanding,” when used with
reference to Securities of any series, means, subject to the provisions of
Section 8.04, as of any particular time, all Securities of that series
theretofore authenticated and delivered by the Trustee under this Indenture,
except (a) Securities theretofore canceled by the Trustee or any paying
agent, or delivered to the Trustee or any paying agent for cancellation or that
have previously been canceled; (b) Securities or portions thereof for the
payment or redemption of which monies or Governmental Obligations in the
necessary amount shall have been deposited in trust with the Trustee or with any
paying agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own paying
agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article Three provided, or provision
satisfactory to the Trustee shall have been made for giving such notice; and
(c) Securities in lieu of or in substitution for which other Securities
shall have been authenticated and delivered pursuant to the terms of
Section 2.07.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

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

     

    ARTICLE
2.

    ISSUE,
DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND

    EXCHANGE OF
SECURITIES

     

    
      	
              Section
      2.01.

            	
              Designation and Terms
      of Securities.

            

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    (15)        any
additional or different Events of Default or restrictive covenants (which may
include, among other restrictions, restrictions on the Company’s ability or the
ability of the Company’s Subsidiaries to: incur additional indebtedness; issue
additional securities; create liens; pay dividends or make distributions in
respect of their capital stock; redeem capital stock; place restrictions on such
Subsidiaries placing restrictions on their ability to pay dividends, make
distributions or transfer assets; make investments or other restricted payments;
sell or otherwise dispose of assets; enter into sale-leaseback transactions;
engage in transactions with stockholders and affiliates; issue or sell stock of
their Subsidiaries; or effect a consolidation or merger) or financial covenants
(which may include, among other financial covenants, financial covenants that
require the Company and its Subsidiaries to maintain specified interest
coverage, fixed charge, cash flow-based or asset-based ratios) provided for with
respect to the Securities of the series;

     

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

     

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

     

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

     

    (19)        the
subordination terms of the Securities of the series.

     

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

     

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

     

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

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              Section
      2.02. 

            	
              Form of Securities and
      Trustee’s Certificate.

            

    

     

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

     

    
      	
              
                Section
      2.03. 

              

            	
              
                Denominations:
      Provisions for Payment.

              

            

    

     

    The Securities shall be issuable as
registered Securities and in the denominations of one thousand U.S. dollars
($1,000) or any integral multiple thereof, subject to Section 2.01(a)(10).
The Securities of a particular series shall bear interest payable on the dates
and at the rate specified with respect to that series. Subject to
Section 2.01(a)(16), the principal of and the interest on the Securities of
any series, as well as any premium thereon in case of redemption thereof prior
to maturity, shall be payable in the coin or currency of the United States of
America that at the time is legal tender for public and private debt, at the
office or agency of the Company maintained for that purpose. Each Security shall
be dated the date of its authentication. Interest on the Securities shall be
computed on the basis of a 360-day year composed of twelve 30-day
months.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    
      	
              Section
      2.04. 

            	
              Execution and
      Authentications.

            

    

     

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

     

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

     

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

     

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

     

    The Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties or immunities under the
Securities and this Indenture or otherwise in a manner that is not reasonably
acceptable to the Trustee.

     

    
      	
              Section
      2.05. 

            	
              Registration of
      Transfer and Exchange.

            

    

     

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

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    (d)       The
Company shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business
15 days before the day of the mailing of a notice of redemption of less
than all the Outstanding Securities of the same series and ending at the close
of business on the day of such mailing, nor (ii) to register the transfer
of or exchange any Securities of any series or portions thereof called for
redemption, other than the unredeemed portion of any such Securities being
redeemed in part. The provisions of this Section 2.05 are, with respect to
any Global Security, subject to Section 2.11 hereof.

     

    
      	
              Section
      2.06. 

            	
              Temporary
      Securities.

            

    

     

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

     

    
      	
              Section
      2.07 

            	
              Mutilated, Destroyed,
      Lost or Stolen Securities.

            

    

     

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

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    In case any Security that has matured
or is about to mature shall become mutilated or be destroyed, lost or stolen,
the Company may, instead of issuing a substitute Security, pay or authorize the
payment of the same (without surrender thereof except in the case of a mutilated
Security) if the applicant for such payment shall furnish to the Company and the
Trustee such security or indemnity as they may require to save them harmless,
and, in case of destruction, loss or theft, evidence to the satisfaction of the
Company and the Trustee of the destruction, loss or theft of such Security and
of the ownership thereof.

     

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

     

    
      	
              Section
      2.08 

            	
              Cancellation.

            

    

     

    All Securities surrendered for the
purpose of payment, redemption, exchange or registration of transfer shall, if
surrendered to the Company or any paying agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and
no Securities shall be issued in lieu thereof except as expressly required or
permitted by any of the provisions of this Indenture. On request of the Company
at the time of such surrender, the Trustee shall deliver to the Company canceled
Securities held by the Trustee. In the absence of such request the Trustee may
dispose of canceled Securities in accordance with its standard procedures and
deliver a certificate of disposition to the Company. If the Company shall
otherwise acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such
Securities unless and until the same are delivered to the Trustee for
cancellation.

     

    
      	
              Section
      2.09. 

            	
              Benefits of
      Indenture.

            

    

     

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

     

    
      	
              Section
      2.10. 

            	
              Authenticating
      Agent.

            

    

     

    So long as any of the Securities of any
series remain Outstanding there may be an Authenticating Agent for any or all
such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or partial
redemption thereof, and Securities so authenticated shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes as
if authenticated by the Trustee hereunder. All references in this Indenture to
the authentication of Securities by the Trustee shall be deemed to include
authentication by an Authenticating Agent for such series. Each Authenticating
Agent shall be acceptable to the Company and shall be a corporation that has a
combined capital and surplus, as most recently reported or determined by it,
sufficient under the laws of any jurisdiction under which it is organized or in
which it is doing business to conduct a trust business, and that is otherwise
authorized under such laws to conduct such business and is subject to
supervision or examination by federal or state authorities. If at any time any
Authenticating Agent shall cease to be eligible in accordance with these
provisions, it shall resign immediately.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

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

     

    
      	
              
                Section
      2.11. 

              

            	
              
                Global
      Securities.

              

            

    

     

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

     

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

     

    (c)      If at
any time the Depositary for a series of the Securities notifies the Company that
it is unwilling or unable to continue as Depositary for such series or if at any
time the Depositary for such series shall no longer be registered or in good
standing under the Exchange Act, or other applicable statute or regulation, and
a successor Depositary for such series is not appointed by the Company within
90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, or if an Event of Default has occurred and is
continuing and the Company has received a request from the Depositary, this
Section 2.11 shall no longer be applicable to the Securities of such series
and the Company will execute, and subject to Section 2.04, the Trustee will
authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in
exchange for such Global Security. In addition, the Company may at any time
determine that the Securities of any series shall no longer be represented by a
Global Security and that the provisions of this Section 2.11 shall no
longer apply to the Securities of such series. In such event the Company will
execute and, subject to Section 2.04, the Trustee, upon receipt of an
Officers’ Certificate evidencing such determination by the Company, will
authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in
exchange for such Global Security. Upon the exchange of the Global Security for
such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such
Securities in definitive registered form issued in exchange for the Global
Security pursuant to this Section 2.11(c) shall be registered in such names
and in such authorized denominations as the Depositary, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the
Trustee. The Trustee shall deliver such Securities to the Depositary for
delivery to the Persons in whose names such Securities are so
registered.

     

    ARTICLE
3.

    REDEMPTION
OF SECURITIES AND SINKING FUND PROVISIONS

     

    
      	
              Section 3.01.

            	
              Redemption.

            

    

     

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

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              Section
      3.02 

            	
              Notice of
      Redemption.

            

    

     

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

     

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

     

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

     

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

     

    
      	
              Section
      3.03. 

            	
              Payment Upon
      Redemption.

            

    

     

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

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

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

     

    
      	
              Section
      3.04 

            	
              Sinking
      Fund.

            

    

     

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

     

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

     

    
      	
              Section
      3.05. 

            	
              Satisfaction of
      Sinking Fund Payments with
Securities.

            

    

     

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

     

    
      	
              Section
      3.06. 

            	
              Redemption of
      Securities for Sinking Fund.

            

    

     

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

     

    ARTICLE
4.

    COVENANTS

     

    
      	
              Section
      4.01. 

            	
              Payment of Principal,
      Premium and Interest.

            

    

     

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

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
              Section
      4.02. 

            	
              Maintenance of Office
      or Agency.

            

    

     

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

     

    
      	
              Section
      4.03. 

            	
              Paying
      Agents.

            

    

     

    (a)       If
the Company shall appoint one or more paying agents for all or any series of the
Securities, other than the Trustee, the Company will cause each such paying
agent to execute and deliver to the Trustee an instrument in which such agent
shall agree with the Trustee, subject to the provisions of this
Section:

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

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

     

    
      	
              Section
      4.04. 

            	
              Appointment to Fill
      Vacancy in Office of
Trustee.

            

    

     

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

     

    
      	
              Section
      4.05 

            	
              Compliance with
      Consolidation Provisions.

            

    

     

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

     

    ARTICLE
5.

    SECURITYHOLDERS’
LISTS AND REPORTS BY THE COMPANY AND

    THE TRUSTEE

     

    
      	
              Section
      5.01. 

            	
              Company to Furnish
      Trustee Names and Addresses of
  Securityholders.

            

    

     

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

     

    
      	
              Section
      5.02. 

            	
              Preservation Of
      Information; Communications With
  Securityholders.

            

    

     

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

     

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

     

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

     

    
      	
              Section
      5.02. 

            	
              Reports by the
      Company.

            

    

     

    The Company covenants and agrees to
provide a copy to the Trustee, after the Company files the same with the
Securities and Exchange Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the Securities and Exchange Commission may from time to time by
rules and regulations prescribe) that the Company files with the Securities and
Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange
Act; provided, however, the Company shall not be required to deliver to the
Trustee any materials for which the Company has sought and received confidential
treatment by the Securities and Exchange Commission.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    
      	
              Section
      5.03. 

            	
              Reports by the
      Trustee.

            

    

     

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

     

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

     

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

     

    ARTICLE
6.

    REMEDIES
OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

     

    
      	
              Section
      6.01. 

            	
              Events of
      Default.

            

    

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

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

     

    (c)      At any
time after the principal of (and premium, if any, on) and accrued and unpaid
interest on the Securities of that series shall have been so declared due and
payable, and before any judgment or decree for the payment of the monies due
shall have been obtained or entered as hereinafter provided, the holders of a
majority in aggregate principal amount of the Securities of that series then
Outstanding hereunder, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if: (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured
installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon
such principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate per annum expressed in the Securities of that series to the date of such
payment or deposit) and the amount payable to the Trustee under
Section 7.06, and (ii) any and all Events of Default under the
Indenture with respect to such series, other than the nonpayment of principal on
(and premium, if any, on) and accrued and unpaid interest on Securities of that
series that shall not have become due by their terms, shall have been remedied
or waived as provided in Section 6.06.

     

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

     

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

     

    
      	
              Section
      6.02 

            	
              Collection of
      Indebtedness and Suits for Enforcement by
  Trustee.

            

    

     

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

     

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

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    
      	
              Section
      6.03. 

            	
              Application
      of Monies Collected.

            

    

     

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

     

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

     

    SECOND:
To the payment of all indebtedness of the Company to which such series of
Securities is subordinated to the extent required by Section 7.06 and
Article Fourteen;

     

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

     

    
      
        
        

      

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

     

    Section
6.04.        Limitation on
Suits.

     

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

     

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

     

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

     

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

     

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

    
      
         

      

      
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    Section
6.06          Control by
Securityholders.

     

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

     

    Section
6.07.         Undertaking to Pay
Costs.

     

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

     

    ARTICLE
7.

    CONCERNING
THE TRUSTEE

     

    Section
7.01.         Certain Duties and
Responsibilities of Trustee.

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

    Section
7.02.         Certain Rights of
Trustee.

     

    Except as otherwise provided in
Section 7.01:

     

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

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

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

     

    (c)           The
Trustee shall not be accountable for the use or application by the Company of
any of the Securities or of the proceeds of such Securities, or for the use or
application of any monies paid over by the Trustee in accordance with any
provision of this Indenture or established pursuant to Section 2.01, or for
the use or application of any monies received by any paying agent other than the
Trustee.

     

    Section
7.04.         May Hold
Securities.

     

    The Trustee or any paying agent or
Security Registrar, in its individual or any other capacity, may become the
owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.

     

    Section
7.05.         Monies Held in
Trust.

     

    Subject to the provisions of
Section 11.05, all monies 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
monies received by it hereunder except such as it may agree with the Company to
pay thereon.

     

    Section
7.06.         Compensation and
Reimbursement.

     

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

    
      
         

      

      
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    (b)           The
obligations of the Company under this Section to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for reasonable expenses,
disbursements and advances shall constitute indebtedness of the Company to which
the Securities are subordinated. Such additional indebtedness shall be secured
by a lien prior to that of the Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the benefit of
the holders of particular Securities.

     

    Section
7.07.         Reliance on Officers’
Certificate.

     

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

     

    Section
7.08.         Disqualification;
Conflicting Interests.

     

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

     

    Section
7.09.         Corporate Trustee Required;
Eligibility.

     

    There shall at all times be a Trustee
with respect to the Securities issued hereunder which shall at all times be a
corporation organized and doing business under the laws of the United States of
America or any state or territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the Securities and
Exchange Commission, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least fifty million U.S.
dollars ($50,000,000), and subject to supervision or examination by federal,
state, territorial, or District of Columbia authority.

     

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

     

    Section
7.10.         Resignation and Removal;
Appointment of Successor.

     

    (a)           The
Trustee or any successor hereafter appointed may at any time resign with respect
to the Securities of one or more series by giving written notice thereof to the
Company and by transmitting notice of resignation by mail, first class postage
prepaid, to the Securityholders of such series, as their names and addresses
appear upon the Security Register. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee with respect to
Securities of such series by written instrument, in duplicate, executed by order
of the Board of Directors, one copy of which instrument shall be delivered to
the resigning Trustee and one copy to the successor trustee. If no successor
trustee shall have been so appointed and have accepted appointment within
30 days after the mailing of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction for the appointment of
a successor trustee with respect to Securities of such series, or any
Securityholder of that series who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem
proper and prescribe, appoint a successor trustee.

    
      
         

      

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

     

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

     

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

     

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

     

    then, in any such case, the Company may
remove the Trustee with respect to all Securities and appoint a successor
trustee by written instrument, in duplicate, executed by order of the Board of
Directors, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee, or any Securityholder who has
been a bona fide holder of a Security or Securities for at least six months may,
on behalf of that holder and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of
a successor trustee. Such court may thereupon after such notice, if any, as it
may deem proper and prescribe, remove the Trustee and appoint a successor
trustee.

     

    (c)           The
holders of a majority in aggregate principal amount of the Securities of any
series at the time Outstanding may at any time remove the Trustee with respect
to such series by so notifying the Trustee and the Company and may appoint a
successor Trustee for such series with the consent of the Company.

     

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

     

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

     

    Section
7.11.         Acceptance of Appointment By
Successor.

     

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

    
      
         

      

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

     

    (c)           Upon
request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor trustee all such rights, powers and trusts referred to in paragraph
(a) or (b) of this Section, as the case may be.

     

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

     

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

     

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

     

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

     

    Section
7.13.         Preferential Collection of
Claims Against the Company.

     

    The Trustee shall comply with Section
311(a) of the Trust Indenture Act, excluding any creditor relationship described
in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been
removed shall be subject to Section 311(a) of the Trust Indenture Act to the
extent included therein.

    
      
         

      

      
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    Section
7.14.         Notice of
Default.

     

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

     

    ARTICLE
8.

    CONCERNING
THE SECURITYHOLDERS

     

    Section
8.01.         Evidence of Action by
Securityholders.

     

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

     

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

     

    Section
8.02.         Proof of Execution by
Securityholders.

     

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

     

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

     

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

     

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

     

    Section
8.03.         Who May be Deemed
Owners.

     

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

    
      
         

      

      
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    Section
8.04.         Certain Securities Owned by
Company Disregarded.

     

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

     

    Section
8.05.         Actions Binding on Future
Securityholders.

     

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

     

    ARTICLE
9.

    SUPPLEMENTAL
INDENTURES

     

    Section
9.01.         Supplemental Indentures
Without the Consent of Securityholders.

     

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

     

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

     

    (b)           to
comply with Article Ten;

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    Section
9.02.         Supplemental Indentures With
Consent of Securityholders.

     

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

     

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

     

    Section
9.03.         Effect of Supplemental
Indentures.

     

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

    
      
         

      

      
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    Section
9.04.         Securities Affected by
Supplemental Indentures.

     

    Securities of any series affected by a
supplemental indenture, authenticated and delivered after the execution of such
supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company,
provided such form meets the requirements of any securities exchange upon which
such series may be listed, as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors, to any
modification of this Indenture contained in any such supplemental indenture may
be prepared by the Company, authenticated by the Trustee and delivered in
exchange for the Securities of that series then Outstanding.

     

    Section
9.05.         Execution of Supplemental
Indentures.

     

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

     

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

     

    ARTICLE
10.

    SUCCESSOR
ENTITY

     

    Section
10.01.       Company May Consolidate,
Etc.

     

    Except as provided pursuant to
Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’
Certificate, or established in one or more indentures supplemental to this
Indenture, nothing contained in this Indenture shall prevent any consolidation
or merger of the Company with or into any other Person (whether or not
affiliated with the Company) or successive consolidations or mergers in which
the Company or its successor or successors shall be a party or parties, or shall
prevent any sale, conveyance, transfer or other disposition of the property of
the Company or its successor or successors as an entirety, or substantially as
an entirety, to any other corporation (whether or not affiliated with the
Company or its successor or successors) authorized to acquire and operate the
same; provided, however, (a) the Company hereby covenants and agrees that,
upon any such consolidation or merger (in each case, if the Company is not the
survivor of such transaction), sale, conveyance, transfer or other disposition,
the due and punctual payment of the principal of (premium, if any) and interest
on all of the Securities of all series in accordance with the terms of each
series, according to their tenor, and the due and punctual performance and
observance of all the covenants and conditions of this Indenture with respect to
each series or established with respect to such series pursuant to
Section 2.01 to be kept or performed by the Company shall be expressly
assumed, by supplemental indenture (which shall conform to the provisions of the
Trust Indenture Act, as then in effect) reasonably satisfactory in form to the
Trustee executed and delivered to the Trustee by the entity formed by such
consolidation, or into which the Company shall have been merged, or by the
entity which shall have acquired such property and (b) in the event that
the Securities of any series then Outstanding are convertible into or
exchangeable for shares of common stock or other securities of the Company, such
entity shall, by such supplemental indenture, make provision so that the
Securityholders of Securities of that series shall thereafter be entitled to
receive upon conversion or exchange of such Securities the number of securities
or property to which a holder of the number of shares of common stock or other
securities of the Company deliverable upon conversion or exchange of those
Securities would have been entitled had such conversion or exchange occurred
immediately prior to such consolidation, merger, sale, conveyance, transfer or
other disposition.

    
      
         

      

      
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    Section
10.02.       Successor Entity
Substituted.

     

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

     

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

     

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

     

    Section
10.03.       Evidence of Consolidation,
Etc. to Trustee.

     

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

     

    ARTICLE
11.

    SATISFACTION
AND DISCHARGE

     

    Section
11.01.       Satisfaction and Discharge
of Indenture.

     

    If at any time:

     

    (a)           the
Company shall have delivered to the Trustee for cancellation all Securities of a
series theretofore authenticated and not delivered to the Trustee for
cancellation (other than any Securities that shall have been destroyed, lost or
stolen and that shall have been replaced or paid as provided in
Section 2.07 and Securities for whose payment money or Governmental
Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company and thereupon repaid to the Company or discharged from such
trust, as provided in Section 11.05); or

     

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

    
      
         

      

      
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    Section
11.02.       Discharge of
Obligations.

     

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

     

    Section
11.03.       Deposited Monies to be Held
in Trust.

     

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

     

    Section
11.04.       Payment of Monies Held by
Paying Agents.

     

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

     

    Section
11.05.       Repayment to
Company.

     

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

    
      
         

      

      
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    ARTICLE
12.

    IMMUNITY
OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND

    DIRECTORS

     

    Section
12.01.       No
Recourse.

     

    No recourse under or upon any
obligation, covenant or agreement of this Indenture, or of any Security, or for
any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, past, present or future as
such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or successor
corporation, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely
corporate obligations, and that no such personal liability whatever shall attach
to, or is or shall be incurred by, the incorporators, stockholders, officers or
directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom;
and that any and all such personal liability of every name and nature, either at
common law or in equity or by constitution or statute, of, and any and all such
rights and claims against, every such incorporator, stockholder, officer or
director as such, because of the creation of the indebtedness hereby authorized,
or under or by reason of the obligations, covenants or agreements contained in
this Indenture or in any of the Securities or implied therefrom, are hereby
expressly waived and released as a condition of, and as a consideration for, the
execution of this Indenture and the issuance of such Securities.

     

    ARTICLE
13.

    MISCELLANEOUS
PROVISIONS

     

    Section
13.01.       Effect on Successors and
Assigns.

     

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

     

    Section
13.02.       Actions by
Successor.

     

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

     

    Section
13.03.       Surrender of Company
Powers.

     

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

     

    Section
13.04.       Notices.

     

    Except as otherwise expressly provided
herein, any notice, request or demand that by any provision of this Indenture is
required or permitted to be given, made or served by the Trustee or by the
holders of Securities or by any other Person pursuant to this Indenture to or on
the Company may be given or served by being deposited in first class mail,
postage prepaid, addressed (until another address is filed in writing by the
Company with the Trustee), as follows: Rm A1001-1002, Tower 16, Hengmao
International Center, 333 South Guangchang Road, Nanchang, Jiangzi Province, PRL
330003, Attention: Corporate Secretary, with copy to Buchanan Ingersoll &
Rooney, PC, Two Liberty Place, 50 S. 16th Street, Suite 3200, Philadelphia, PA
19102-2555, Attention:  William W. Uchimoto, Esquire. Any notice,
election, request or demand by the Company or any Securityholder or by any other
Person pursuant to this Indenture to or upon the Trustee shall be deemed to have
been sufficiently given or made, for all purposes, if given or made in writing
at the Corporate Trust Office of the Trustee.

     

    Section
13.05.       Governing
Law.

     

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

    
      
         

      

      
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    Section
13.06.       Treatment of Securities as
Debt.

     

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

     

    Section
13.07.       Certificates and Opinions as
to Conditions Precedent.

     

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

     

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

     

    Section
13.08.       Payments on Business
Days.

     

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

     

    Section
13.09.       Conflict with Trust
Indenture Act.

     

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

     

    Section
13.10.       Counterparts.

     

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

     

    Section
13.11.       Separability.

     

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

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    Section
13.12.       Compliance
Certificates.

     

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

     

    ARTICLE
14.

    SUBORDINATION
OF SECURITIES

     

    Section
14.01.       Subordination
Terms.

     

    The payment by the Company of the
principal of, premium, if any, and interest on any series of securities issued
hereunder shall be subordinated to the extent set forth in an indenture
supplemental hereto relating to such Securities.

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

    
      In
Witness
Whereof, the parties hereto have caused this Indenture to be duly
executed all as of the day and year first above written.

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                AGFEED
      INDUSTRIES, INC.

                              	 
	 
      	 
      	 
	
                                By:

                              	 
      	 
	
                                Name:

                              	 
      	 
	
                                Title:

                              	 
      	 
	 
      	 
      	 
	
                                [Trustee],
      as Trustee

                              	 
	 
      	 
      	 
	
                                By:

                              	 
      	 
	
                                Name:

                              	 
      	 
	
                                Title:
      

                              	 
      	 

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        34

        
          

        

      

      
         

      

    

     

    CROSS-REFERENCE
TABLE (1)

     

    
      
        	
                Section
      of Trust Indenture Act Of 1939

              	 
      	
                Section
      of Indenture

              
	
                310(a)

              	 
      	
                7.09

              
	
                310(b)

              	 
      	
                7.08

              
	 
      	 
      	
                7.10

              
	
                310(c)

              	 
      	
                Inapplicable

              
	
                311(a)

              	 
      	
                7.13

              
	
                311(b)

              	 
      	
                7.13

              
	
                311(c)

              	 
      	
                Inapplicable

              
	
                312(a)

              	 
      	
                5.01

              
	 
      	 
      	
                5.02(a)

              
	
                312(b)

              	 
      	
                5.02(c)

              
	
                312(c)

              	 
      	
                5.02(c)

              
	
                313(a)

              	 
      	
                5.04(a)

              
	
                313(b)

              	 
      	
                5.04(b)

              
	
                313(c)

              	 
      	
                5.04(a)

              
	 
      	 
      	
                5.04(b)

              
	
                313(d)

              	 
      	
                5.04(c)

              
	
                314(a)

              	 
      	
                5.03

              
	 
      	 
      	
                13.12

              
	
                314(b)

              	 
      	
                Inapplicable

              
	
                314(c)

              	 
      	
                13.07(a)

              
	
                314(d)

              	 
      	
                Inapplicable

              
	
                314(e)

              	 
      	
                13.07(b)

              
	
                314(f)

              	 
      	
                Inapplicable

              
	
                315(a)

              	 
      	
                7.01(a)

              
	 
      	 
      	
                7.01(b)

              
	
                315(b)

              	 
      	
                7.14

              
	
                315(c)

              	 
      	
                7.01

              
	
                315(d)

              	 
      	
                7.01(b)

              
	
                315(e)

              	 
      	
                6.07

              
	
                316(a)

              	 
      	
                6.06

              
	 
      	 
      	
                8.04

              
	
                316(b)

              	 
      	
                6.04

              
	
                316(c)

              	 
      	
                8.01

              
	
                317(a)

              	 
      	
                6.02

              
	
                317(b)

              	 
      	
                4.03

              
	
                318(a)

              	 
      	
                13.09

              

      

    

     

    
      	
              (1)

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

            

    

    

      
        
           

        

        
          35

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