Document:

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                                                                     EXHIBIT 4.4

                         REGISTRATION RIGHTS AGREEMENT

                                  BY AND AMONG

                             LONGVIEW FIBRE COMPANY

                                      AND

                         BANC OF AMERICA SECURITIES LLC
                           SCOTIA CAPITAL (USA) INC.
                      WELLS FARGO BROKERAGE SERVICES, LLC
                        U.S. BANCORP PIPER JAFFRAY INC.

                          DATED AS OF JANUARY 25, 2002

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                          REGISTRATION RIGHTS AGREEMENT

               This Registration Rights Agreement (this "Agreement") is made and
entered into as of January 25, 2002, by and among Longview Fibre Company, a
Washington corporation (the "Company"), and Banc of America Securities LLC,
Scotia Capital (USA) Inc., Wells Fargo Brokerage Services, LLC and U.S. Bancorp
Piper Jaffray Inc. (each an "Initial Purchaser" and, collectively, the "Initial
Purchasers"), each of whom has agreed to purchase the Company's 10% Senior
Subordinated Notes due 2009 (the "Initial Securities") pursuant to the Purchase
Agreement (as defined below).

               This Agreement is made pursuant to the Purchase Agreement, dated
as of January 18, 2002 (the "Purchase Agreement"), by and among the Company and
the Initial Purchasers (i) for the benefit of each Initial Purchaser and (ii)
for the benefit of the holders from time to time of the Securities (including
each Initial Purchaser). In order to induce the Initial Purchasers to purchase
the Initial Securities, the Company has agreed to provide the registration
rights set forth in this Agreement. The execution and delivery of this Agreement
is a condition to the obligations of the Initial Purchasers set forth in Section
5 of the Purchase Agreement.

               The parties hereby agree as follows:

                     SECTION 1. DEFINITIONS

               As used in this Agreement, the following capitalized terms shall
have the following meanings:

               Advice: As defined in Section 6 hereof.

               Broker-Dealer: Any broker or dealer registered with the
Commission under the Exchange Act.

               Closing Date: The date of this Agreement.

               Commission: The United States Securities and Exchange Commission.

               Consummate: A registered Exchange Offer shall be deemed
        "Consummated" for purposes of this Agreement upon the occurrence of (i)
        the filing and effectiveness under the Securities Act of the Exchange
        Offer Registration Statement relating to the Exchange Securities to be
        issued in the Exchange Offer, (ii) the maintenance of such Registration
        Statement continuously effective and the keeping of the Exchange Offer
        open for a period not less than the minimum period required pursuant to
        Section 3(b) hereof, and (iii) the delivery by the Company to the
        Registrar under the Indenture of Exchange Securities in the same
        aggregate principal amount as the aggregate principal amount of Initial
        Securities that were tendered by Holders thereof pursuant to the
        Exchange Offer.

               Effectiveness Target Date: As defined in Sections 3(a) hereof
        with respect to the Exchange Offer Registration Statement and as defined
        in Section 4(a) hereof with respect to a Shelf Registration Statement.

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               Exchange Act:  The Securities Exchange Act of 1934, as amended.

               Exchange Offer: The registration by the Company under the
        Securities Act of the Exchange Securities pursuant to a Registration
        Statement pursuant to which the Company offers the Holders of all
        outstanding Transfer Restricted Securities the opportunity to exchange
        all such outstanding Transfer Restricted Securities held by such Holders
        for Exchange Securities in an aggregate principal amount equal to the
        aggregate principal amount of the Transfer Restricted Securities
        tendered in such exchange offer by such Holders.

               Exchange Offer Registration Statement: The Registration Statement
        relating to the Exchange Offer, including the related Prospectus.

               Exchange Securities: The 10% Senior Subordinated Notes due 2009,
        of the same series under the Indenture as the Initial Securities, to be
        issued to Holders in exchange for Transfer Restricted Securities
        pursuant to this Agreement.

               Exempt Resales: The transactions in which the Initial Purchasers
        propose to sell the Initial Securities to certain "qualified
        institutional buyers," as such term is defined in Rule 144A under the
        Securities Act, and to non-U.S. persons pursuant to Regulation S under
        the Securities Act.

               Holder:  As defined in Section 2(b) hereof.

               Indemnified Holder:  As defined in Section 8(a) hereof.

               Indenture: The Indenture, dated as of January 25, 2002, between
        the Company and U.S. Bank National Association, as trustee (the
        "Trustee"), pursuant to which the Securities are to be issued, as such
        Indenture is amended or supplemented from time to time in accordance
        with the terms thereof.

               Initial Purchaser:  As defined in the preamble hereto.

               Initial Securities: The 10% Senior Subordinated Notes due 2009,
        of the same series under the Indenture as the Exchange Securities, for
        so long as such securities constitute Transfer Restricted Securities.

               Initial Placement: The issuance and sale by the Company of the
        Initial Securities to the Initial Purchasers pursuant to the Purchase
        Agreement.

               NASD:  The National Association of Securities Dealers, Inc.

               Person: An individual, partnership, corporation, trust or
        unincorporated organization, or a government or agency or political
        subdivision thereof.

               Prospectus: The prospectus included in a Registration Statement,
        as amended or supplemented by any prospectus supplement and by all other
        amendments thereto,

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        including post-effective amendments, and all material incorporated by
        reference into such Prospectus.

               Purchase Agreement:  As defined in the preamble hereto.

               Registrar:  As defined in the Indenture.

               Registration Default:  As defined in Section 5 hereof.

               Registration Statement: Any registration statement of the Company
        relating to (a) an offering of Exchange Securities pursuant to an
        Exchange Offer or (b) the registration for resale of Transfer Restricted
        Securities pursuant to the Shelf Registration Statement, which is filed
        pursuant to the provisions of this Agreement, in each case, including
        the Prospectus included therein, all amendments and supplements thereto
        (including post-effective amendments) and all exhibits and material
        incorporated by reference therein.

               Securities: The Initial Securities and the Exchange Securities,
        each individually, a "Security".

               Securities Act:  The Securities Act of 1933, as amended.

               Shelf Filing Deadline:  As defined in Section 4 hereof.

               Shelf Registration Statement:  As defined in Section 4 hereof.

               Trust Indenture Act: The Trust Indenture Act of 1939 (15 U.S.C.
        Sections 77aaa to 77bbbb) as in effect on the date of the Indenture.

               Transfer Restricted Security: Each Security, until the earliest
        to occur of (i) the date on which such Security is exchanged in the
        Exchange Offer and entitled to be resold to the public by the Holder
        thereof without complying with the prospectus delivery requirements of
        the Securities Act or the date such Security is sold by a Broker-Dealer
        pursuant to the "Plan of Distribution" contemplated by the Exchange
        Offer Registration Statement (including delivery of the Prospectus
        contained therein), (ii) the date on which such Security has been
        effectively registered under the Securities Act and disposed of in
        accordance with a Shelf Registration Statement and (iii) the date on
        which such Security is distributed to the public pursuant to Rule 144
        under the Securities Act or may be sold pursuant to Rule 144(k) under
        the Securities Act (or a similar provision then in effect).

               Underwritten Registration or Underwritten Offering: A
        registration in which securities of the Company are sold to an
        underwriter for reoffering to the public.

                     SECTION 2. SECURITIES SUBJECT TO THIS AGREEMENT

                     (a) Transfer Restricted Securities. The securities entitled
        to the benefits of this Agreement are the Transfer Restricted
        Securities.

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                     (b) Holders of Transfer Restricted Securities. A Person is
        deemed to be a holder of Transfer Restricted Securities (each, a
        "Holder") whenever such Person owns Transfer Restricted Securities.

                     SECTION 3. REGISTERED EXCHANGE OFFER

                     (a) Unless the Exchange Offer shall not be permissible
        under applicable law or Commission policy (after the procedures set
        forth in Section 6(a) below have been complied with), the Company shall
        (i) cause to be filed with the Commission as soon as practicable after
        the Closing Date, but in no event later than 60 days after the Closing
        Date, a Registration Statement under the Securities Act relating to the
        Exchange Securities and the Exchange Offer, (ii) use its best efforts to
        cause such Registration Statement to become effective at the earliest
        possible time, but in no event later than 150 days after the Closing
        Date (as such date relates to the Exchange Offer Registration Statement,
        the "Effectiveness Target Date"), (iii) in connection with the
        foregoing, file (A) all pre-effective amendments to such Registration
        Statement as may be necessary in order to cause such Registration
        Statement to become effective, (B) if applicable, a post-effective
        amendment to such Registration Statement pursuant to Rule 430A under the
        Securities Act and (C) all necessary filings in connection with the
        registration and qualification of the Exchange Securities to be made
        under the Blue Sky laws of such jurisdictions as are necessary to permit
        Consummation of the Exchange Offer, and (iv) upon the effectiveness of
        such Registration Statement, commence the Exchange Offer. The Exchange
        Offer shall be on the appropriate form permitting registration of the
        Exchange Securities to be offered in exchange for the Transfer
        Restricted Securities and to permit resales of Securities held by
        Broker-Dealers as contemplated by Section 3(c) below.

                     (b) The Company shall cause the Exchange Offer Registration
        Statement to be effective continuously and shall keep the Exchange Offer
        open for a period of not less than the minimum period required under
        applicable federal and state securities laws to Consummate the Exchange
        Offer; provided, however, that in no event shall such period be less
        than 20 business days after the date notice of the Exchange Offer is
        mailed to the Holders. The Company shall cause the Exchange Offer to
        comply with all applicable federal and state securities laws. No
        securities other than the Securities shall be included in the Exchange
        Offer Registration Statement. The Company shall use its best efforts to
        cause the Exchange Offer to be Consummated on the earliest practicable
        date after the Exchange Offer Registration Statement has become
        effective, but in no event later than 30 business days thereafter.

                     (c) The Company shall indicate in a "Plan of Distribution"
        section contained in the Prospectus forming a part of the Exchange Offer
        Registration Statement that any Broker-Dealer who holds Initial
        Securities that are Transfer Restricted Securities and that were
        acquired for its own account as a result of market-making activities or
        other trading activities (other than Transfer Restricted Securities
        acquired directly from the Company), may exchange such Initial
        Securities pursuant to the Exchange Offer; however, such Broker-Dealer
        may be deemed to be an "underwriter" within the meaning of the
        Securities Act and must, therefore, deliver a prospectus meeting the
        requirements

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        of the Securities Act in connection with any resales of the Exchange
        Securities received by such Broker-Dealer in the Exchange Offer, which
        prospectus delivery requirement may be satisfied by the delivery by such
        Broker-Dealer of the Prospectus contained in the Exchange Offer
        Registration Statement. Such "Plan of Distribution" section shall also
        contain all other information with respect to such resales by
        Broker-Dealers that the Commission may require in order to permit such
        resales pursuant thereto, but such "Plan of Distribution" shall not name
        any such Broker-Dealer or disclose the amount of Securities held by any
        such Broker-Dealer except to the extent required by the Commission as a
        result of a change in policy after the date of this Agreement.

                      The Company shall use its best efforts to keep the
        Exchange Offer Registration Statement continuously effective,
        supplemented and amended as required by the provisions of Section 6(c)
        below to the extent necessary to ensure that it is available for resales
        of Securities acquired by Broker-Dealers for their own accounts as a
        result of market-making activities or other trading activities, and to
        ensure that it conforms with the requirements of this Agreement, the
        Securities Act and the policies, rules and regulations of the Commission
        as announced from time to time, for a period ending on the earlier of
        (i) 180 days from the date on which the Exchange Offer Registration
        Statement is declared effective and (ii) the date on which a
        Broker-Dealer is no longer required to deliver a prospectus in
        connection with market-making or other trading activities.

                      The Company shall provide sufficient copies of the latest
        version of such Prospectus to Broker-Dealers promptly upon request at
        any time during such 180-day (or shorter as provided in the foregoing
        sentence) period in order to facilitate such resales.

                     SECTION 4. SHELF REGISTRATION

                     (a) Shelf Registration. If (i) the Company is not required
        to file an Exchange Offer Registration Statement or to consummate the
        Exchange Offer because the Exchange Offer is not permitted by applicable
        law or Commission policy (after the procedures set forth in Section 6(a)
        below have been complied with), (ii) for any reason the Exchange Offer
        is not Consummated within 180 days after the Closing Date, or (iii) if
        any Holder of Transfer Restricted Securities shall notify the Company
        prior to the 20th day following the Consummation of the Exchange Offer
        that (A) such Holder is prohibited by applicable law or Commission
        policy from participating in the Exchange Offer, or (B) such Holder may
        not resell the Exchange Securities acquired by it in the Exchange Offer
        to the public without delivering a prospectus and that the Prospectus
        contained in the Exchange Offer Registration Statement is not
        appropriate or available for such resales by such Holder, or (C) such
        Holder is a Broker-Dealer and holds Initial Securities acquired directly
        from the Company or one of its affiliates, then, upon such Holder's
        request, the Company shall:

                        (x) cause to be filed a shelf registration statement
               pursuant to Rule 415 under the Securities Act, which may be an
               amendment to the Exchange Offer Registration Statement (in either
               event, the "Shelf Registration Statement") on or prior to the

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               earliest to occur of (1) the 45th day after the date on which the
               Company determines that it is not required to file the Exchange
               Offer Registration Statement, and (2) the 45th day after the date
               on which the Company receives the notice from a Holder of
               Transfer Restricted Securities as contemplated by clause (iii)
               above, (such earliest date being the "Shelf Filing Deadline"),
               which Shelf Registration Statement shall provide for resales of
               all Transfer Restricted Securities the Holders of which shall
               have provided the information required pursuant to Section 4(b)
               hereof; and

                        (y) use their best efforts to cause such Shelf
               Registration Statement to be declared effective by the Commission
               on or before the 90th day after the Shelf Filing Deadline (as
               such date relates to a Shelf Registration Statement, the
               "Effectiveness Target Date").

        The Company shall use its best efforts to keep such Shelf Registration
        Statement continuously effective, supplemented and amended as required
        by the provisions of Sections 6(b) and (c) hereof to the extent
        necessary to ensure that it is available for resales of Securities by
        the Holders of Transfer Restricted Securities entitled to the benefit of
        this Section 4(a), and to ensure that it conforms with the requirements
        of this Agreement, the Securities Act and the policies, rules and
        regulations of the Commission as announced from time to time, for a
        period of at least two years following the Closing Date (or shorter
        period that will terminate when all the Securities covered by such Shelf
        Registration Statement have been sold pursuant to such Shelf
        Registration Statement).

                     (b) Provision by Holders of Certain Information in
        Connection with the Shelf Registration Statement. No Holder of Transfer
        Restricted Securities may include any of its Transfer Restricted
        Securities in any Shelf Registration Statement pursuant to this
        Agreement unless and until such Holder furnishes to the Company in
        writing, within 20 days after receipt of a request therefor, such
        information as the Company may reasonably request for use in connection
        with any Shelf Registration Statement or Prospectus or preliminary
        Prospectus included therein. Each Holder as to which any Shelf
        Registration Statement is being effected agrees to furnish promptly to
        the Company all information required to be disclosed in order to make
        the information previously furnished to the Company by such Holder not
        materially misleading. No Holder shall be entitled to liquidated damages
        pursuant to Section 5 unless and until such Holder shall have provided
        all such information.

                     SECTION 5. LIQUIDATED DAMAGES

               If (i) any of the Registration Statements required by this
Agreement is not filed with the Commission on or prior to the date specified for
such filing in this Agreement, (ii) any of such Registration Statements has not
been declared effective by the Commission on or prior to the relevant
Effectiveness Target Date, (iii) the Exchange Offer has not been Consummated
within 30 business days after the Effectiveness Target Date with respect to the
Exchange Offer Registration Statement or (iv) any Registration Statement
required by this Agreement is filed and declared effective but shall thereafter
cease to be effective or fail to be usable for its intended

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purpose without being succeeded immediately by a post-effective amendment to
such Registration Statement that cures such failure and that is itself
immediately declared effective (each such event referred to in clauses (i)
through (iv), a "Registration Default"), the Company hereby agrees that the
interest rate borne by the Transfer Restricted Securities shall be increased by
0.50% per annum during the 90-day period immediately following the occurrence of
any Registration Default and shall increase by 0.50% per annum at the end of
each subsequent 90-day period, but in no event shall such increase exceed 1.50%
per annum. Following the cure of all Registration Defaults relating to any
particular Transfer Restricted Securities, the interest rate borne by the
relevant Transfer Restricted Securities shall be reduced to the original
interest rate borne by such Transfer Restricted Securities; provided, however,
that, if after any such reduction in interest rate, a different Registration
Default occurs, the interest rate borne by the relevant Transfer Restricted
Securities shall again be increased pursuant to the foregoing provisions.

               All obligations of the Company set forth in the preceding
paragraph that are outstanding with respect to any Transfer Restricted Security
at the time such security ceases to be a Transfer Restricted Security shall
survive until such time as all such obligations with respect to such Security
shall have been satisfied in full.

                    SECTION 6. REGISTRATION PROCEDURES

                    (a) Exchange Offer Registration Statement. In connection
        with the Exchange Offer, the Company shall comply with all of the
        provisions of Section 6(c) below, shall use its best efforts to effect
        such exchange to permit the sale of Transfer Restricted Securities being
        sold in accordance with the intended method or methods of distribution
        thereof, and shall comply with the following provisions:

                        (i) If in the reasonable opinion of counsel to the
               Company there is a question as to whether the Exchange Offer is
               permitted by applicable law, the Company hereby agrees to seek a
               no-action letter or other favorable decision from the Commission
               allowing the Company to Consummate an Exchange Offer for such
               Initial Securities. The Company hereby agrees to pursue the
               issuance of such a decision to the Commission staff level but
               shall not be required to take commercially unreasonable action to
               effect a change of Commission policy. The Company hereby agrees,
               however, to (A) participate in telephonic conferences with the
               Commission, (B) deliver to the Commission staff an analysis
               prepared by counsel to the Company setting forth the legal bases,
               if any, upon which such counsel has concluded that such an
               Exchange Offer should be permitted, and (C) diligently pursue a
               favorable resolution by the Commission staff of such submission.

                        (ii) As a condition to its participation in the Exchange
               Offer pursuant to the terms of this Agreement, each Holder of
               Transfer Restricted Securities shall furnish, upon the request of
               the Company, prior to the Consummation thereof, a written
               representation to the Company (which may be contained in the
               letter of transmittal contemplated by the Exchange Offer
               Registration Statement) to the effect that (A) it is not an
               affiliate of the Company, (B) it is not engaged in, and does not
               intend to engage in, and has no arrangement or understanding with
               any

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               person to participate in, a distribution of the Exchange
               Securities to be issued in the Exchange Offer, and (C) it is
               acquiring the Exchange Securities in its ordinary course of
               business. In addition, all such Holders of Transfer Restricted
               Securities shall otherwise cooperate in the Company's
               preparations for the Exchange Offer. Each Holder hereby
               acknowledges and agrees that any Broker-Dealer and any such
               Holder using the Exchange Offer to participate in a distribution
               of the securities to be acquired in the Exchange Offer (1) could
               not under Commission policy as in effect on the date of this
               Agreement rely on the position of the Commission enunciated in
               Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon
               Capital Holdings Corporation (available May 13, 1988), as
               interpreted in the Commission's letter to Shearman & Sterling
               dated July 2, 1993, and similar no-action letters (which may
               include any no-action letter obtained pursuant to clause (i)
               above), and (2) must comply with the registration and prospectus
               delivery requirements of the Securities Act in connection with a
               secondary resale transaction and that such a secondary resale
               transaction should be covered by an effective registration
               statement containing the selling security holder information
               required by Item 507 or 508, as applicable, of Regulation S-K if
               the resales are of Exchange Securities obtained by such Holder in
               exchange for Initial Securities acquired by such Holder directly
               from the Company.

                    (b) Shelf Registration Statement. In connection with the
        Shelf Registration Statement, the Company shall comply with all the
        provisions of Section 6(c) below and shall use its best efforts to
        effect such registration to permit the sale of the Transfer Restricted
        Securities being sold in accordance with the intended method or methods
        of distribution thereof, and pursuant thereto the Company will as
        expeditiously as possible prepare and file with the Commission a
        Registration Statement relating to the registration on any appropriate
        form under the Securities Act, which form shall be available for the
        sale of the Transfer Restricted Securities in accordance with the
        intended method or methods of distribution thereof.

                    (c) General Provisions. In connection with any Registration
        Statement and any Prospectus required by this Agreement to permit the
        sale or resale of Transfer Restricted Securities (including, without
        limitation, any Registration Statement and the related Prospectus
        required to permit resales of Securities by Broker-Dealers), the Company
        shall:

                    (i) use its best efforts to keep such Registration Statement
               continuously effective and provide all requisite financial
               statements for the period specified in Section 3 or 4 of this
               Agreement, as applicable; upon the occurrence of any event that
               would cause any such Registration Statement or the Prospectus
               contained therein (A) to contain a material misstatement or
               omission or (B) not to be effective and usable for resale of
               Transfer Restricted Securities during the period required by this
               Agreement, the Company shall file promptly an appropriate
               amendment to such Registration Statement, in the case of clause
               (A), correcting any such misstatement or omission, and, in the
               case of either clause (A) or (B), use its best efforts to cause
               such amendment to be declared effective and

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               such Registration Statement and the related Prospectus to become
               usable for their intended purpose(s) as soon as practicable
               thereafter;

                    (ii) prepare and file with the Commission such amendments
               and post-effective amendments to the Registration Statement as
               may be necessary to keep the Registration Statement effective for
               the applicable period set forth in Section 3 or 4 hereof, as
               applicable, or such shorter period as will terminate when all
               Transfer Restricted Securities covered by such Registration
               Statement have been sold; cause the Prospectus to be supplemented
               by any required Prospectus supplement, and as so supplemented to
               be filed pursuant to Rule 424 under the Securities Act, and to
               comply fully with the applicable provisions of Rules 424 and 430A
               under the Securities Act in a timely manner; and comply with the
               provisions of the Securities Act with respect to the disposition
               of all securities covered by such Registration Statement during
               the applicable period in accordance with the intended method or
               methods of distribution by the sellers thereof set forth in such
               Registration Statement or supplement to the Prospectus;

                    (iii) advise the underwriter(s), if any, and selling Holders
               promptly and, if requested by such Persons, to confirm such
               advice in writing, (A) when the Prospectus or any Prospectus
               supplement or post-effective amendment has been filed, and, with
               respect to any Registration Statement or any post-effective
               amendment thereto, when the same has become effective, (B) of any
               request by the Commission for amendments to the Registration
               Statement or amendments or supplements to the Prospectus or for
               additional information relating thereto, (C) of the issuance by
               the Commission of any stop order suspending the effectiveness of
               the Registration Statement under the Securities Act or of the
               suspension by any state securities commission of the
               qualification of the Transfer Restricted Securities for offering
               or sale in any jurisdiction, or the initiation of any proceeding
               for any of the preceding purposes, (D) of the existence of any
               fact or the happening of any event that makes any statement of a
               material fact made in the Registration Statement, the Prospectus,
               any amendment or supplement thereto, or any document incorporated
               by reference therein untrue, or that requires the making of any
               additions to or changes in the Registration Statement or the
               Prospectus in order to make the statements therein not
               misleading. If at any time the Commission shall issue any stop
               order suspending the effectiveness of the Registration Statement,
               or any state securities commission or other regulatory authority
               shall issue an order suspending the qualification or exemption
               from qualification of the Transfer Restricted Securities under
               state securities or Blue Sky laws, the Company shall use its best
               efforts to obtain the withdrawal or lifting of such order at the
               earliest possible time;

                    (iv) furnish without charge to each selling Holder named in
               any Registration Statement, and each of the underwriter(s), if
               any, before filing with the Commission, copies of any
               Registration Statement or any Prospectus included therein or any
               amendments or supplements to any such Registration Statement or
               Prospectus (including all documents incorporated by reference
               after the initial filing of such Registration Statement), which
               documents will be subject to the

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               review of such Holders and underwriter(s) in connection with such
               sale, if any, for a period of at least five business days, and
               the Company will not file any such Registration Statement or
               Prospectus or any amendment or supplement to any such
               Registration Statement or Prospectus (including all such
               documents incorporated by reference) to which an Initial
               Purchaser of Transfer Restricted Securities covered by such
               Registration Statement or the underwriter(s), if any, shall
               reasonably object in writing within five business days after the
               receipt thereof (such objection to be deemed timely made upon
               confirmation of telecopy transmission within such period). The
               objection of an Initial Purchaser or underwriter, if any, shall
               be deemed to be reasonable if such Registration Statement,
               amendment, Prospectus or supplement, as applicable, as proposed
               to be filed, contains a material misstatement or omission;

                    (v) promptly prior to the filing of any document that is to
               be incorporated by reference into a Registration Statement or
               Prospectus (other than documents filed prior to the filing of the
               Registration Statement), provide copies of such document to each
               selling Holder named in any Registration Statement, and to the
               underwriter(s), if any, make the Company's representatives
               available for discussion of such document and other customary due
               diligence matters, and include such information in such document
               prior to the filing thereof as such selling Holders or
               underwriter(s), if any, reasonably may request;

                    (vi) make available at reasonable times for inspection by
               each selling Holder, any managing underwriter participating in
               any disposition pursuant to such Registration Statement and any
               attorney or accountant retained by such managing underwriter or
               any of the underwriter(s), all financial and other records,
               pertinent corporate documents and properties of the Company and
               cause the Company's officers, directors and employees to supply
               all information reasonably requested by any such Holder,
               underwriter, attorney or accountant in connection with such
               Registration Statement subsequent to the filing thereof and prior
               to its effectiveness;

                    (vii) if requested by any selling Holders or the
               underwriter(s), if any, promptly incorporate in any Registration
               Statement or Prospectus, pursuant to a supplement or
               post-effective amendment if necessary, such information as such
               selling Holders and underwriter(s), if any, may reasonably
               request to have included therein, including, without limitation,
               information relating to the "Plan of Distribution" of the
               Transfer Restricted Securities, information with respect to the
               principal amount of Transfer Restricted Securities being sold to
               such underwriter(s), the purchase price being paid therefor and
               any other terms of the offering of the Transfer Restricted
               Securities to be sold in such offering; and make all required
               filings of such Prospectus supplement or post-effective amendment
               as soon as practicable after the Company is notified of the
               matters to be incorporated in such Prospectus supplement or
               post-effective amendment;

                    (viii) furnish to each selling Holder and each of the
               underwriter(s), if any, without charge, at least one copy of the
               Registration Statement, as first filed

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               with the Commission, and of each amendment thereto, including
               financial statements and schedules, all documents incorporated by
               reference therein and all exhibits (including exhibits
               incorporated therein by reference);

                    (ix) deliver to each selling Holder and each of the
               underwriter(s), if any, without charge, as many copies of the
               Prospectus (including each preliminary prospectus) and any
               amendment or supplement thereto as such Persons reasonably may
               reasonably request; the Company hereby consents to the use of the
               Prospectus and any amendment or supplement thereto by each of the
               selling Holders and each of the underwriter(s), if any, in
               connection with the offering and the sale of the Transfer
               Restricted Securities covered by the Prospectus or any amendment
               or supplement thereto;

                    (x) enter into such agreements (including an underwriting
               agreement), make such representations and warranties and take all
               such other actions in connection therewith that are customary in
               such transactions in order to expedite or facilitate the
               disposition of the Transfer Restricted Securities pursuant to any
               Registration Statement contemplated by this Agreement, all to
               such extent as may be reasonably requested by any Holder of
               Transfer Restricted Securities or underwriter in connection with
               any sale or resale pursuant to any Registration Statement
               contemplated by this Agreement; and whether or not an
               underwriting agreement is entered into and whether or not the
               registration is an Underwritten Registration, the Company shall:

                        (1) furnish to each selling Holder and each underwriter,
                    if any, in such substance and scope as they may reasonably
                    request and as are customarily made by issuers to
                    underwriters in primary underwritten offerings, upon the
                    date of the Consummation of the Exchange Offer and, if
                    applicable, the effectiveness of the Shelf Registration
                    Statement:

                            (A) a certificate, dated the date of Consummation of
                        the Exchange Offer or the date of effectiveness of the
                        Shelf Registration Statement, as the case may be, signed
                        by (y) the President or any Vice President and (z) a
                        principal financial or accounting officer of the
                        Company, confirming, as of the date thereof, the matters
                        set forth in paragraphs (i), (ii) and (iii) of Section
                        5(e) of the Purchase Agreement, and such other matters
                        as such parties may reasonably request;

                            (B) an opinion, dated the date of Consummation of
                        the Exchange Offer or the date of effectiveness of the
                        Shelf Registration Statement, as the case may be, of
                        counsel for the Company, covering the matters set forth
                        in Section 5(c) of the Purchase Agreement and such other
                        matters as such parties may reasonably request, and in
                        any event including a statement to the effect that such
                        counsel has participated in conferences with officers
                        and other representatives of the Company,
                        representatives

<PAGE>

                        of the independent public accountants for the Company,
                        the Initial Purchasers' representatives and the
                        Initial Purchasers' counsel in connection with the
                        preparation of such Registration Statement and the
                        related Prospectus and have considered the matters
                        required to be stated therein and the statements
                        contained therein, although such counsel has not
                        independently verified the accuracy, completeness or
                        fairness of such statements; and that such counsel
                        advises that, on the basis of the foregoing (relying as
                        to materiality to a large extent upon facts provided to
                        such counsel by officers and other representatives of
                        the Company and without independent check or
                        verification), no facts came to such counsel's attention
                        that caused such counsel to believe that the applicable
                        Registration Statement, at the time such Registration
                        Statement or any post-effective amendment thereto became
                        effective, and, in the case of the Exchange Offer
                        Registration Statement, as of the date of Consummation,
                        contained an untrue statement of a material fact or
                        omitted to state a material fact required to be stated
                        therein or necessary to make the statements therein not
                        misleading, or that the Prospectus contained in such
                        Registration Statement as of its date and, in the case
                        of the opinion dated the date of Consummation of the
                        Exchange Offer, as of the date of Consummation,
                        contained an untrue statement of a material fact or
                        omitted to state a material fact necessary in order to
                        make the statements therein, in light of the
                        circumstances under which they were made, not
                        misleading. Without limiting the foregoing, such counsel
                        may state further that such counsel assumes no
                        responsibility for, and has not independently verified,
                        the accuracy, completeness or fairness of the financial
                        statements, notes and schedules and other financial data
                        included in any Registration Statement contemplated by
                        this Agreement or the related Prospectus; and

                            (C) a customary comfort letter, dated as of the date
                        of Consummation of the Exchange Offer or the date of
                        effectiveness of the Shelf Registration Statement, as
                        the case may be, from the Company's independent
                        accountants, in the customary form and covering matters
                        of the type customarily covered in comfort letters by
                        underwriters in connection with primary underwritten
                        offerings, and affirming the matters set forth in the
                        comfort letters delivered pursuant to Section 5(a) of
                        the Purchase Agreement, without exception;

                        (2) set forth in full or incorporate by reference in the
                    underwriting agreement, if any, the indemnification
                    provisions and procedures of Section 8 hereof with respect
                    to all parties to be indemnified pursuant to said Section;
                    and

<PAGE>

                        (3) deliver such other documents and certificates as may
                    be reasonably requested by such parties to evidence
                    compliance with clause (A) above and with any customary
                    conditions contained in the underwriting agreement or other
                    agreement entered into by the Company pursuant to this
                    clause (x), if any.

                    If at any time the representations and warranties of the
               Company contemplated in this clause (x) cease to be true and
               correct, the Company shall so advise the Initial Purchasers and
               the underwriter(s), if any, and each selling Holder promptly and,
               if requested by such Persons, shall confirm such advice in
               writing;

                    (xi) prior to any public offering of Transfer Restricted
               Securities, cooperate with the selling Holders, the
               underwriter(s), if any, and their respective counsel in
               connection with the registration and qualification of the
               Transfer Restricted Securities under the securities or Blue Sky
               laws of such jurisdictions as the selling Holders or
               underwriter(s) may request and do any and all other acts or
               things necessary or advisable to enable the disposition in such
               jurisdictions of the Transfer Restricted Securities covered by
               the Shelf Registration Statement; provided, however, that the
               Company shall not be required to register or qualify as a foreign
               corporation where it is not then so qualified or to take any
               action that would subject it to the service of process in suits
               or to taxation, other than as to matters and transactions
               relating to the Registration Statement, in any jurisdiction where
               it is not then so subject;

                    (xii) shall issue, upon the request of any Holder of Initial
               Securities covered by the Shelf Registration Statement, Exchange
               Securities, having an aggregate principal amount equal to the
               aggregate principal amount of Initial Securities surrendered to
               the Company by such Holder in exchange therefor or being sold by
               such Holder; such Exchange Securities to be registered in the
               name of such Holder or in the name of the purchaser(s) of such
               Securities, as the case may be; in return, the Initial Securities
               held by such Holder shall be surrendered to the Company for
               cancellation;

                    (xiii) cooperate with the selling Holders and the
               underwriter(s), if any, to facilitate the timely preparation and
               delivery of certificates representing Transfer Restricted
               Securities to be sold and not bearing any restrictive legends;
               and enable such Transfer Restricted Securities to be in such
               denominations and registered in such names as the Holders or the
               underwriter(s), if any, may request at least two business days
               prior to any sale of Transfer Restricted Securities made by such
               underwriter(s);

                    (xiv) use its best efforts to cause the Transfer Restricted
               Securities covered by the Registration Statement to be registered
               with or approved by such other governmental agencies or
               authorities as may be necessary to enable the seller or sellers
               thereof or the underwriter(s), if any, to consummate the

<PAGE>

               disposition of such Transfer Restricted Securities, subject to
               the proviso contained in clause (xi) above;

                    (xv) if any fact or event contemplated by Section
               6(c)(iii)(D) above shall exist or have occurred, prepare a
               supplement or post-effective amendment to the Registration
               Statement or related Prospectus or any document incorporated
               therein by reference or file any other required document so that,
               as thereafter delivered to the purchasers of Transfer Restricted
               Securities, the Prospectus will not contain an untrue statement
               of a material fact or omit to state any material fact necessary
               to make the statements therein not misleading;

                    (xvi) provide a CUSIP number for all Transfer Restricted
               Securities not later than the effective date of the Registration
               Statement and provide the Trustee under the Indenture with
               printed certificates for the Transfer Restricted Securities which
               are in a form eligible for deposit with the Depositary Trust
               Company;

                    (xvii) otherwise use its best efforts to comply with all
               applicable rules and regulations of the Commission, and make
               generally available to its security holders, as soon as
               practicable, a consolidated earnings statement meeting the
               requirements of Rule 158 (which need not be audited) for the
               twelve-month period (A) commencing at the end of any fiscal
               quarter in which Transfer Restricted Securities are sold to
               underwriters in a firm or best efforts Underwritten Offering or
               (B) if not sold to underwriters in such an offering, beginning
               with the first month of the Company's first fiscal quarter
               commencing after the effective date of the Registration
               Statement;

                    (xviii) cause the Indenture to be qualified under the Trust
               Indenture Act not later than the effective date of the first
               Registration Statement required by this Agreement, and, in
               connection therewith, cooperate with the Trustee and the Holders
               of Securities to effect such changes to the Indenture as may be
               required for such Indenture to be so qualified in accordance with
               the terms of the Trust Indenture Act; and to execute and use its
               best efforts to cause the Trustee to execute, all documents that
               may be required to effect such changes and all other forms and
               documents required to be filed with the Commission to enable such
               Indenture to be so qualified in a timely manner; and

                    (xix) provide promptly to each Holder upon request each
               document filed with the Commission pursuant to the requirements
               of Section 13 and Section 15 of the Exchange Act.

                    (d) Restrictions on Holders. Each Holder agrees by
        acquisition of a Transfer Restricted Security that, upon receipt of any
        notice from the Company of the existence of any fact of the kind
        described in Section 6(c)(iii)(D) hereof, such Holder will forthwith
        discontinue disposition of Transfer Restricted Securities pursuant to
        the applicable Registration Statement until such Holder's receipt of the
        copies of the supplemented or amended Prospectus contemplated by Section
        6(c)(xv) hereof, or until it is advised in writing (the "Advice") by the
        Company that the use of the Prospectus may

<PAGE>

        be resumed, and has received copies of any additional or supplemental
        filings that are incorporated by reference in the Prospectus. If so
        directed by the Company, each Holder will deliver to the Company (at the
        Company's expense) all copies, other than permanent file copies then in
        such Holder's possession, of the Prospectus covering such Transfer
        Restricted Securities that was current at the time of receipt of such
        notice. In the event the Company shall give any such notice, the time
        period regarding the effectiveness of such Registration Statement set
        forth in Section 3 or 4 hereof, as applicable, shall be extended by the
        number of days during the period from and including the date of the
        giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and
        including the date when each selling Holder covered by such Registration
        Statement shall have received the copies of the supplemented or amended
        Prospectus contemplated by Section 6(c)(xv) hereof or shall have
        received the Advice; however, no such extension shall be taken into
        account in determining whether liquidated damages are due pursuant to
        Section 5 hereof or the amount of such liquidated damages, it being
        agreed that the Company's option to suspend use of a Registration
        Statement pursuant to this paragraph shall be treated as a Registration
        Default for purposes of Section 5.

                    SECTION 7.REGISTRATION EXPENSES

                    (a) All expenses incident to the Company's performance of or
        compliance with this Agreement will be borne by the Company, regardless
        of whether a Registration Statement becomes effective, including without
        limitation: (i) all registration and filing fees and expenses (including
        filings made by any Initial Purchaser or Holder with the NASD (and, if
        applicable, the fees and expenses of any "qualified independent
        underwriter" and its counsel that may be required by the rules and
        regulations of the NASD)); (ii) all fees and expenses of compliance with
        federal securities and state Blue Sky or securities laws; (iii) all
        expenses of printing (including printing certificates for the Exchange
        Securities to be issued in the Exchange Offer and printing of
        Prospectuses), messenger and delivery services and telephone; (iv) all
        fees and disbursements of counsel for the Company and, subject to
        Section 7(b) below, the Holders of Transfer Restricted Securities; (v)
        all application and filing fees in connection with listing the Exchange
        Securities on a national securities exchange or automated quotation
        system pursuant to the requirements thereof; and (vi) all fees and
        disbursements of independent certified public accountants of the Company
        (including the expenses of any special audit and comfort letters
        required by or incident to such performance).

               The Company will, in any event, bear its internal expenses
        (including, without limitation, all salaries and expenses of its
        officers and employees performing legal or accounting duties), the
        expenses of any annual audit and the fees and expenses of any Person,
        including special experts, retained by the Company.

                    (b) In connection with any Registration Statement required
        by this Agreement (including, without limitation, the Exchange Offer
        Registration Statement and the Shelf Registration Statement), the
        Company will reimburse the Holders of Transfer Restricted Securities
        being resold pursuant to the "Plan of Distribution" contained in the
        Exchange Offer Registration Statement or registered pursuant to the
        Shelf Registration Statement, as applicable, for the reasonable fees and
        disbursements of not more than one

<PAGE>

        counsel, who shall be Shearman & Sterling or such other counsel as may
        be chosen by the Holders of a majority in principal amount of the
        Transfer Restricted Securities for whose benefit such Registration
        Statement is being prepared.

                    SECTION 8. INDEMNIFICATION

                    (a) The Company agrees to indemnify and hold harmless (i)
        each Holder and (ii) each person, if any, who controls (within the
        meaning of Section 15 of the Securities Act or Section 20 of the
        Exchange Act) any Holder (any of the persons referred to in this clause
        (ii) being hereinafter referred to as a "controlling person") and (iii)
        the respective officers, directors, partners, employees, representatives
        and agents of any Holder or any controlling person (any person referred
        to in clause (i), (ii) or (iii) may hereinafter be referred to as an
        "Indemnified Holder"), to the fullest extent lawful, from and against
        any and all losses, claims, damages, liabilities, judgments, actions and
        expenses (including without limitation and as incurred, reimbursement of
        all reasonable costs of investigating, preparing, pursuing, settling,
        compromising, paying or defending any claim or action, or any
        investigation or proceeding by any governmental agency or body,
        commenced or threatened, including the reasonable fees and expenses of
        counsel to any Indemnified Holder), joint or several, caused by, based
        upon, or arising out of any untrue statement or alleged untrue statement
        of a material fact contained in any Registration Statement or Prospectus
        (or any amendment or supplement thereto), or any omission or alleged
        omission to state therein a material fact required to be stated therein
        or necessary to make the statements therein not misleading, except
        insofar as such losses, claims, damages, liabilities or expenses are
        caused by an untrue statement or omission or alleged untrue statement or
        omission that is made in reliance upon and in conformity with
        information relating to any of the Holders furnished in writing to the
        Company by any of the Holders expressly for use therein. This indemnity
        agreement shall be in addition to any liability which the Company may
        otherwise have.

                      In case any action or proceeding (including any
        governmental or regulatory investigation or proceeding) shall be brought
        or asserted against any of the Indemnified Holders with respect to which
        indemnity may be sought against the Company, such Indemnified Holder (or
        the Indemnified Holder controlled by such controlling person) shall
        promptly notify the Company in writing (provided, however, that the
        failure to give such notice shall not relieve the Company of its
        obligations pursuant to this Agreement only to the extent the Company is
        not prejudiced as a proximate result of such failure). The Company shall
        be liable for any settlement of any such action or proceeding effected
        with the Company's prior written consent, which consent shall not be
        withheld unreasonably, and the Company agrees to indemnify and hold
        harmless any Indemnified Holder from and against any loss, claim,
        damage, liability or expense by reason of any settlement of any action
        effected with the written consent of the Company. The Company shall not,
        without the prior written consent of each Indemnified Holder, settle or
        compromise or consent to the entry of judgment in or otherwise seek to
        terminate any pending or threatened action, claim, litigation or
        proceeding in respect of which indemnification or contribution may be
        sought hereunder (whether or not any Indemnified Holder is a party
        thereto), unless such settlement,

<PAGE>

        compromise, consent or termination includes an unconditional release of
        each Indemnified Holder from all liability arising out of such action,
        claim, litigation or proceeding.

                    (b) Each Holder of Transfer Restricted Securities agrees,
        severally and not jointly, to indemnify and hold harmless the Company
        and its directors, officers of the Company who sign a Registration
        Statement, and any person controlling (within the meaning of Section 15
        of the Securities Act or Section 20 of the Exchange Act) the Company,
        and the respective officers, directors, partners, employees,
        representatives and agents of each such person, to the same extent as
        the foregoing indemnity from the Company to each of the Indemnified
        Holders, but only with respect to claims and actions based on
        information relating to such Holder furnished in writing by such Holder
        expressly for use in any Registration Statement. In case any action or
        proceeding shall be brought against the Company or its directors or
        officers or any such controlling person in respect of which indemnity
        may be sought against a Holder of Transfer Restricted Securities, such
        Holder shall have the rights and duties given the Company and the
        Company or its directors or officers or such controlling person shall
        have the rights and duties given to each Holder by the preceding
        paragraph. In no event shall the liability of any selling Holder
        hereunder be greater in amount than the dollar amount of the proceeds
        received by such Holder upon the sale of the Securities giving rise to
        such indemnification obligation.

                    (c) In case any action is brought against any indemnified
        party and such indemnified party seeks or intends to seek indemnity from
        an indemnifying party, the indemnifying party will be entitled to
        participate in and, to the extent that it shall elect, jointly with all
        other indemnifying parties similarly notified, by written notice
        delivered to the indemnified party promptly after receiving the
        aforesaid notice from such indemnified party, to assume the defense
        thereof with counsel reasonably satisfactory to such indemnified party;
        provided, however, if the defendants in any such action include both the
        indemnified party and the indemnifying party and the indemnified party
        shall have reasonably concluded that a conflict may arise between the
        positions of the indemnifying party and the indemnified party in
        conducting the defense of any such action or that there may be legal
        defenses available to it and/or other indemnified parties which are
        different from or additional to those available to the indemnifying
        party, the indemnified party or parties shall have the right to select
        separate counsel to assume such legal defenses and to otherwise
        participate in the defense of such action on behalf of such indemnified
        party or parties. Upon receipt of notice from the indemnifying party to
        such indemnified party of such indemnifying party's election so to
        assume the defense of such action and approval by the indemnified party
        of counsel, the indemnifying party will not be liable to such
        indemnified party under this Section 8 for any legal or other expenses
        subsequently incurred by such indemnified party in connection with the
        defense thereof unless (i) the indemnified party shall have employed
        separate counsel in accordance with the proviso to the next preceding
        sentence (it being understood, however, that the indemnifying party
        shall not be liable for the expenses of more than one separate counsel
        (together with local counsel), approved by the indemnifying party,
        representing the indemnified parties who are parties to such action) or
        (ii) the indemnifying party shall not have employed counsel reasonably
        satisfactory to the indemnified party to represent the

<PAGE>

        indemnified party within a reasonable time after notice of commencement
        of the action, in each of which cases the fees and expenses of counsel
        shall be at the expense of the indemnifying party.

                    (d) If the indemnification provided for in this Section 8 is
        unavailable to an indemnified party under Section 8(a) or Section 8(b)
        hereof (other than by reason of exceptions provided in those Sections)
        in respect of any losses, claims, damages, liabilities, judgments,
        actions or expenses referred to therein, then each applicable
        indemnifying party, in lieu of indemnifying such indemnified party,
        shall contribute to the amount paid or payable by such indemnified party
        as a result of such losses, claims, damages, liabilities or expenses in
        such proportion as is appropriate to reflect the relative benefits
        received by the Company, on the one hand, and the Holders, on the other
        hand, from the Initial Placement (which in the case of the Company shall
        be deemed to be equal to the total gross proceeds from the Initial
        Placement as set forth on the cover page of the Offering Memorandum),
        the amount of liquidated damages which did not become payable as a
        result of the filing of the Registration Statement resulting in such
        losses, claims, damages, liabilities, judgments actions or expenses, and
        such Registration Statement, or if such allocation is not permitted by
        applicable law, the relative fault of the Company, on the one hand, and
        of the Indemnified Holder, on the other hand, in connection with the
        statements or omissions which resulted in such losses, claims, damages,
        liabilities or expenses, as well as any other relevant equitable
        considerations. The relative fault of the Company, on the one hand, and
        of the Indemnified Holder, on the other, shall be determined by
        reference to, among other things, whether the untrue or alleged untrue
        statement of a material fact or the omission or alleged omission to
        state a material fact relates to information supplied by the Company or
        by the Indemnified Holder and the parties' relative intent, knowledge,
        access to information and opportunity to correct or prevent such
        statement or omission. The amount paid or payable by a party as a result
        of the losses, claims, damages, liabilities and expenses referred to
        above shall be deemed to include, subject to the limitations set forth
        in the second paragraph of Section 8(a), any legal or other fees or
        expenses reasonably incurred by such party in connection with
        investigating or defending any action or claim.

                    The Company and each Holder of Transfer Restricted
        Securities agree that it would not be just and equitable if contribution
        pursuant to this Section 8(d) were determined by pro rata allocation
        (even if the Holders were treated as one entity for such purpose) or by
        any other method of allocation which does not take account of the
        equitable considerations referred to in the immediately preceding
        paragraph. The amount paid or payable by an indemnified party as a
        result of the losses, claims, damages, liabilities or expenses referred
        to in the immediately preceding paragraph shall be deemed to include,
        subject to the limitations set forth above, any legal or other expenses
        reasonably incurred by such indemnified party in connection with
        investigating or defending any such action or claim. Notwithstanding the
        provisions of this Section 8, none of the Holders (and its related
        Indemnified Holders) shall be required to contribute, in the aggregate,
        any amount in excess of the dollar amount by which the proceeds received
        by any such Holder upon the sale of the Securities giving rise to such
        contribution obligation exceeds the amount of any damages which such
        Holder has otherwise been required to pay by reason of such untrue or
        alleged untrue statement or

<PAGE>

        omission or alleged omission. No person guilty of fraudulent
        misrepresentation (within the meaning of Section 11(f) of the Securities
        Act) shall be entitled to contribution from any person who was not
        guilty of such fraudulent misrepresentation. The Holders' obligations to
        contribute pursuant to this Section 8(d) are several in proportion to
        the respective principal amount of Transfer Restricted Securities held
        by each of the Holders hereunder and not joint.

                    SECTION 9. RULE 144A

               The Company hereby agrees with each Holder, for so long as any
Transfer Restricted Securities remain outstanding, and during any period the
Company (i) is not subject to Section 13 or 15(d) of the Exchange Act, to make
available to any Holder or beneficial owner of Transfer Restricted Securities in
connection with any sale thereof and any prospective purchaser of such Transfer
Restricted Securities from such Holder or beneficial owner, the information
required by Rule 144A(d)(4) under the Securities Act in order to permit resales
of such Transfer Restricted Securities pursuant to Rule 144A, and (ii) is
subject to Section 13 or 15(d) of the Exchange Act, to make all filings required
thereunder in a timely manner in order to permit resales of such Transfer
Restricted Securities pursuant to Rule 144A.

                    SECTION 10. PARTICIPATION IN UNDERWRITTEN REGISTRATIONS

               No Holder may participate in any Underwritten Registration
hereunder unless such Holder (a) agrees to sell such Holder's Transfer
Restricted Securities on the basis provided in any underwriting arrangements
approved by the Persons entitled hereunder to approve such arrangements and (b)
completes and executes all reasonable questionnaires, powers of attorney,
indemnities, underwriting agreements, lock-up letters and other documents
required under the terms of such underwriting arrangements.

                    SECTION 11. SELECTION OF UNDERWRITERS

               The Holders of Transfer Restricted Securities covered by the
Shelf Registration Statement who desire to do so may sell such Transfer
Restricted Securities in an Underwritten Offering. In any such Underwritten
Offering, the investment banker or investment bankers and manager or managers
that will administer the offering will be selected by the Holders of a majority
in aggregate principal amount of the Transfer Restricted Securities included in
such offering; provided, that such investment bankers and managers must be
reasonably satisfactory to the Company.

                    SECTION 12. MISCELLANEOUS

                    (a) Remedies. The Company hereby agrees that monetary
        damages would not be adequate compensation for any loss incurred by
        reason of a breach by it of the provisions of this Agreement and hereby
        agrees to waive the defense in any action for specific performance that
        a remedy at law would be adequate.

                    (b) No Inconsistent Agreements. The Company will not, on or
        after the date of this Agreement, enter into any agreement with respect
        to its securities that is inconsistent with the rights granted to the
        Holders in this Agreement or otherwise

<PAGE>

        conflicts with the provisions hereof. The Company has not entered into
        any agreement granting any registration rights with respect to its
        securities to any Person. The rights granted to the Holders hereunder do
        not in any way conflict with and are not inconsistent with the rights
        granted to the holders of the Company's securities under any agreement
        in effect on the date hereof.

                    (c) Adjustments Affecting the Securities. The Company will
        not take any action, or permit any change to occur, with respect to the
        Securities that would materially and adversely affect the ability of the
        Holders to Consummate any Exchange Offer.

                    (d) Amendments and Waivers. The provisions of this Agreement
        may not be amended, modified or supplemented, and waivers or consents to
        or departures from the provisions hereof may not be given unless the
        Company has obtained the written consent of Holders of a majority of the
        outstanding principal amount of Transfer Restricted Securities.
        Notwithstanding the foregoing, a waiver or consent to departure from the
        provisions hereof that relates exclusively to the rights of Holders
        whose securities are being tendered pursuant to the Exchange Offer and
        that does not affect directly or indirectly the rights of other Holders
        whose securities are not being tendered pursuant to such Exchange Offer
        may be given by the Holders of a majority of the outstanding principal
        amount of Transfer Restricted Securities being tendered or registered.

                    (e) Notices. All notices and other communications provided
        for or permitted hereunder shall be made in writing by hand-delivery,
        first-class mail (registered or certified, return receipt requested),
        facsimile, or air courier guaranteeing overnight delivery:

                    (i) if to a Holder, at the address set forth on the records
        of the Registrar under the Indenture, with a copy to the Registrar under
        the Indenture; and

                    (ii) if to the Company:

                             Longview Fibre Company
                             300 Fibre Way
                             Longview, Washington 98632
                             Facsimile: (360) 423-0320
                             Attention: Secretary

                             with a copy to:

                             Perkins Coie LLP
                             1211 SW Fifth Avenue, Suite 1500
                             Portland, OR 97204
                             Facsimile: (503) 727-2222
                             Attention: Roy W. Tucker

<PAGE>

               All such notices and communications shall be deemed to have been
        duly given: at the time delivered by hand, if personally delivered; five
        business days after being deposited in the mail, postage prepaid, if
        mailed; when receipt acknowledged, if facsimiled; and on the next
        business day, if timely delivered to an air courier guaranteeing
        overnight delivery.

               Copies of all such notices, demands or other communications shall
        be concurrently delivered by the Person giving the same to the Trustee
        at the address specified in the Indenture.

                    (f) Successors and Assigns. This Agreement shall inure to
        the benefit of and be binding upon the successors and assigns of each of
        the parties, including without limitation and without the need for an
        express assignment, subsequent Holders of Transfer Restricted
        Securities; provided, however, that this Agreement shall not inure to
        the benefit of or be binding upon a successor or assign of a Holder
        unless and to the extent such successor or assign acquired Transfer
        Restricted Securities from such Holder.

                    (g) Counterparts. This Agreement may be executed in any
        number of counterparts and by the parties hereto in separate
        counterparts, each of which when so executed shall be deemed to be an
        original and all of which taken together shall constitute one and the
        same agreement.

                    (h) Headings. The headings in this Agreement are for
        convenience of reference only and shall not limit or otherwise affect
        the meaning hereof.

                    (i) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
        CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

                    (j) Severability. In the event that any one or more of the
        provisions contained herein, or the application thereof in any
        circumstance, is held invalid, illegal or unenforceable, the validity,
        legality and enforceability of any such provision in every other respect
        and of the remaining provisions contained herein shall not be affected
        or impaired thereby.

                    (k) Entire Agreement. This Agreement together with the
        Purchase Agreement and together with the Escrow Agreement, the DTC
        Agreement, the Securities, and the Indenture (each as defined in the
        Purchase Agreement) is intended by the parties as a final expression of
        their agreement and intended to be a complete and exclusive statement of
        the agreement and understanding of the parties hereto in respect of the
        subject matter contained herein. There are no restrictions, promises,
        warranties or undertakings, other than those set forth or referred to
        herein with respect to the registration rights granted by the Company
        with respect to the Transfer Restricted Securities. This Agreement
        supersedes all prior agreements and understandings between the parties
        with respect to such subject matter.

<PAGE>

               IN WITNESS WHEREOF, the parties have executed this Agreement as
of the date first written above.

                                            LONGVIEW FIBRE COMPANY

                                            By:
                                               ------------------------------
                                                Name:
                                                Title:

The foregoing Registration Rights Agreement is hereby confirmed and accepted as
of the date first above written.

BANC OF AMERICA SECURITIES LLC
SCOTIA CAPITAL (USA) INC.
WELLS FARGO BROKERAGE SERVICES, LLC
U.S. BANCORP PIPER JAFFRAY INC.

BY:  BANC OF AMERICA SECURITIES LLC

By:
   -----------------------------------<PAGE>
                                                                     EXHIBIT 4.5

        THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE,
(III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.12 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

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

                                       1
<PAGE>

                                                             CUSIP _____________

No. E-001                                                       **$215,000,000**

                             LONGVIEW FIBRE COMPANY

                     10% Senior Subordinated Notes due 2009

Issue Date:    _______________, 2002.

               Longview Fibre Company, a Washington corporation (the "Company",
which term includes any successor under this Indenture hereinafter referred to),
for value received, promises to pay to Cede & Co., or its registered assigns,
the principal sum of two hundred fifteen million dollars ($215,000,000) on
January 15, 2009.

Interest Payment Dates:     January 15 and July 15 of each year, commencing July
                            15, 2002.

Record Dates:               The January 1 or July 1 immediately preceding the
                            relevant interest payment date.

               Reference is hereby made to the further provisions of this Note
set forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

                                       2
<PAGE>

               IN WITNESS WHEREOF, the Company has caused this Note to be signed
manually or by facsimile by its duly authorized officers.

                                        By:_____________________________________
                                            Name:
                                            Title:

                                        By:_____________________________________
                                            Name:
                                            Title:

This is one of the 10% Senior Subordinated Notes due 2009 described in the
within-mentioned Indenture.

Dated:  ___________________

U.S. Bank National Association,
as Trustee

By:__________________________________
           Authorized Signatory

                                       3
<PAGE>

                             [REVERSE SIDE OF NOTE]

                             LONGVIEW FIBRE COMPANY

                     10% Senior Subordinated Notes due 2009

               Capitalized terms used herein shall have the meanings assigned to
them in this Indenture referred to below unless otherwise indicated.

               1. Interest. The Company promises to pay interest on the
principal amount of this Note at 10% per annum from the date hereof until
maturity and shall pay the Liquidated Damages, if any, payable pursuant to
Section 5 of the Registration Rights Agreement referred to below. The Company
shall pay interest and Liquidated Damages, if any, semi-annually in arrears on
January 15 and July 15 of each year, or if any such day is not a Business Day,
on the next succeeding Business Day (each an "Interest Payment Date"). Interest
on the Notes shall accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from January 25, 2002; provided that if
there is no existing Default in the payment of interest, and if this Note is
authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next
succeeding Interest Payment Date; provided further that the first Interest
Payment Date shall be July 15, 2002. The Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal and premium, if any, from time to time on demand at a rate that is 1%
per annum in excess of the rate then in effect; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest and Liquidated Damages (without regard to any
applicable grace periods) from time to time on demand at the same rate to the
extent lawful. Interest shall be computed on the basis of a 360-day year of
twelve 30-day months.

               2. Method of Payment. The Company shall pay interest on the Notes
(except defaulted interest) and Liquidated Damages, if any, to the Persons who
are registered Holders of Notes at the close of business on the January 1 or
July 1 next preceding the Interest Payment Date, even if such Notes are canceled
after such record date and on or before such Interest Payment Date, except as
provided in Section 2.13 of the Indenture with respect to defaulted interest.
The Notes shall be payable as to principal, premium and Liquidated Damages, if
any, and interest at the office or agency of the Company maintained for such
purpose in The City of New York, or, at the option of the Company, payment of
interest and Liquidated Damages, if any, may be made by check mailed to the
Holders at their addresses set forth in the register of Holders, and provided
that payment by wire transfer of immediately available funds shall be required
with respect to principal of and interest, premium and Liquidated Damages, if
any, on, all Global Notes and all other Notes the Holders of which shall have
provided wire transfer instructions to the Company or the Paying Agent. Such
payment shall be in such coin or currency of the United States of America as at
the time of payment is legal tender for payment of public and private debts.

               3. Paying Agent and Registrar. Initially, U.S. Bank National
Association, the Trustee under the Indenture, shall act as Paying Agent and
Registrar. The Company may

                                       4
<PAGE>

change any Paying Agent or Registrar without notice to any Holder. The Company
or any of its Restricted Subsidiaries may act in any such capacity.

               4. Indenture. The Company issued the Notes under an Indenture
dated as of January 25, 2002 ("Indenture") between the Company and the Trustee.
The terms of the Notes include those stated in the Indenture and those made part
of the Indenture by reference to the Trust Indenture Act of 1939, as amended.
The Notes are subject to all such terms, and Holders are referred to the
Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture,
the provisions of the Indenture shall govern and be controlling. The Indenture
pursuant to which this Note is issued provides that an unlimited aggregate
principal amount of Notes may be issued thereunder.

               5. Optional Redemption. (a) Except as set forth in paragraph 5(b)
below, the Company shall not have the option to redeem any Notes prior to
January 15, 2006. Thereafter, the Company shall have the option to redeem the
Notes, in whole or in part, upon not less than 30 nor more than 60 days' prior
notice, at the redemption prices (expressed as percentages of principal amount)
set forth below plus accrued and unpaid interest and Liquidated Damages, if any,
thereon to the applicable redemption date, if redeemed during the twelve-month
period beginning on January 15 of the years indicated below:

<TABLE>
<CAPTION>
Year                                              Percentage
----                                              ----------
<S>                                               <C>
2006........................................      105.00%
2007........................................      102.50%
2008 and thereafter.........................      100.00%
</TABLE>

               (b) Notwithstanding the foregoing, at any time prior to January
15, 2005, the Company may redeem up to 35% of the aggregate principal amount of
Notes originally issued under the Indenture at a redemption price of 110% of the
principal amount thereof, plus accrued and unpaid interest and Liquidated
Damages, if any, to the redemption date, with the net cash proceeds of one or
more Public Equity Offerings; provided that (1) at least 65% of the aggregate
principal amount of the Notes originally issued under the Indenture remains
outstanding immediately after the occurrence of such redemption, excluding Notes
held by the Company and its Subsidiaries; and (2) the redemption must occur
within 60 days of the date of the closing of such Public Equity Offering. In
addition, at any time prior to January 15, 2006, the Company may redeem all or
part of the Notes upon not less than 30 days' nor more than 60 days' notice at a
redemption price equal to the sum of (i) the principal amount thereof, plus (ii)
accrued and unpaid interest, if any, to the applicable date of redemption, plus
(iii) the Make-Whole Premium.

               6. Mandatory Redemption. The Company shall not be required to
make mandatory redemption payments or sinking fund payments with respect to the
Notes.

               7. Selection and Notice of Redemption. If less than all of the
Notes are to be redeemed at any time, the Trustee shall select Notes for
redemption as follows: (i) if the Notes are listed, in compliance with the
requirements of the principal national securities exchange on which the Notes
are listed, or (ii) if the Notes are not so listed, on a pro rata basis, by lot
or by any method as the Trustee deems fair and appropriate. No Notes of $1,000
may be redeemed in part. Except as otherwise provided in the Indenture, notices
of redemption shall be mailed by

                                       5
<PAGE>

first class mail at least 30 but not more than 60 days before the redemption
date to each Holder to be redeemed at its registered address. Notices of
redemption may not be conditional. If any Note is to be redeemed in part only,
the notice of redemption that relates to that Note shall state the portion of
the principal amount thereof to be redeemed. A new Note in principal amount
equal to the unredeemed portion of the original Note shall be issued in the name
of the Holder thereof upon cancellation of the original Note. Notes called for
redemption become due on the date fixed for redemption. On and after the
redemption date, interest ceases to accrue on Notes or portions of them called
for redemption.

               8. Repurchase at Option of Holder. (a) Upon the occurrence of a
Change of Control, each Holder of Notes shall have the right to require the
Company to repurchase all or any part (equal to $1,000 or an integral multiple
thereof) of such Holder's Notes pursuant to the offer described in Section 4.15
of the Indenture (the "Change of Control Offer") at an offer price in cash equal
to 101% of the aggregate principal amount thereof plus accrued and unpaid
interest and Liquidated Damages thereon, if any, to the date of purchase (the
"Change of Control Payment"). Within 30 days following any Change of Control,
the Company shall mail a notice to each Holder describing the transaction or
transactions that constitute the Change of Control and offering to repurchase
Notes on the date specified in such notice, which date shall be no earlier than
30 days and no later than 60 days from the date such notice is mailed, pursuant
to the procedures required by the Indenture and described in such notice.

               (b) If the Company or a Restricted Subsidiary consummates an
Asset Sale, when the aggregate amount of Excess Proceeds exceeds $5.0 million,
the Company shall make an Asset Sale Offer to all Holders of Notes and all
holders of other Indebtedness that is pari passu with the Notes containing
provisions similar to those set forth in the Indenture with respect to offers to
purchase with the proceeds of sales of assets to purchase the maximum principal
amount of Notes and such other pari passu Indebtedness that may be purchased out
of the Excess Proceeds. The offer price in any Asset Sale Offer shall be equal
to 100% of principal amount plus accrued and unpaid interest and Liquidated
Damages, if any, to the date of purchase, and will be payable in cash. If the
aggregate principal amount of Notes and such other pari passu Indebtedness
tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the
Trustee shall select the Notes and such other pari passu Indebtedness to be
purchased on a pro rata basis based on the principal amount of Notes and such
other pari passu Indebtedness tendered.

               9. Subordination. The Notes are subordinated in right of payment,
in the manner and to the extent set forth in the Indenture, to the prior payment
in full in cash or cash equivalents of all Senior Debt of the Company (whether
outstanding on the date of the Indenture or thereafter created, incurred,
assumed or guaranteed). Each Holder by its acceptance hereof agrees to be bound
by such provisions and authorizes and directs the Trustee, on its behalf, to
take such action as may be necessary or appropriate to effectuate the
subordination provided for in the Indenture.

               10. Denominations, Transfer, Exchange. The Notes are in
registered form without coupons in denominations of $1,000 and integral
multiples of $1,000. The transfer of Notes may be registered and Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may
require a Holder, among other things, to furnish appropriate

                                       6
<PAGE>

endorsements and transfer documents and the Company may require a Holder to pay
any taxes and fees required by law or permitted by the Indenture. The Company is
not required to transfer or exchange any Note selected for redemption. Also, the
Company is not required to transfer or exchange any Note for a period of 15 days
before a selection of Notes to be redeemed.

               11. Persons Deemed Owners. The registered Holder of a Note shall
be treated as its owner for all purposes.

               12. Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture or the Notes may be amended or supplemented with the
consent of the Holders of at least a majority in principal amount of the then
outstanding Notes voting as a single class (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange
offer for, the Notes), and any existing default or compliance with any provision
of the Indenture or the Notes may be waived with the consent of the Holders of a
majority in principal amount of the then outstanding Notes voting as a single
class (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, the Notes). In addition, any
amendment to, or waiver of, the provision of the Indenture relating to
subordination that adversely affects the rights of the Holders will require the
consent of the holders of at least 75% in aggregate principal amount of Notes
then outstanding. Without the consent of any Holder of a Note, the Indenture or
the Notes may be amended or supplemented to cure any ambiguity, defect or
inconsistency, to provide for uncertificated Notes in addition to or in place of
Definitive Notes, to provide for the assumption of the Company's or any
Guarantor's obligations to Holders of the Notes in case of a merger or
consolidation or sale of all or substantially all of the assets of the Company
or such Guarantor, to make any change that would provide any additional rights
or benefits to the Holders of the Notes or that does not adversely affect the
legal rights under the Indenture of any such Holder or to comply with the
requirements of the Commission in order to effect or maintain the qualification
of the Indenture under the TIA.

               13. Defaults and Remedies. In the case of an Event of Default, as
defined in the Indenture, arising from certain events of bankruptcy or
insolvency with respect to the Company, any of its Significant Subsidiaries or
any group of Restricted Subsidiaries that, taken together, would constitute a
Significant Subsidiary, all outstanding Notes shall become due and payable
immediately without further action or notice. If any other Event of Default
occurs and is continuing, the Trustee or the Holders of at least 25% in
principal amount of the then outstanding Notes may declare all the Notes to be
due and payable immediately. Holders of the Notes may not enforce the Indenture
or the Notes except as provided in the Indenture. Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power. The Trustee
may withhold from Holders of the Notes notice of any continuing Default or Event
of Default (except a Default or Event of Default relating to the payment of
principal or interest or Liquidated Damages) if it determines that withholding
notice is in their interest. The Holders of a majority in aggregate principal
amount of the Notes then outstanding by notice to the Trustee may, on behalf of
the Holders of all of the Notes, waive any existing Default or Event of Default
and its consequences under the Indenture except a continuing Default or Event of
Default in the payment of interest or Liquidated Damages on, or the principal
of, the Notes.

                                       7
<PAGE>

               In the case of any Event of Default occurring by reason of any
willful action or inaction taken or not taken by the Company or on their behalf
with the intention of avoiding payment of the premium that the Company would
have had to pay if it then had elected to redeem the Notes pursuant to the
optional redemption provisions of the Indenture, an equivalent premium shall
also become and be immediately due and payable to the extent permitted by law
upon the acceleration of the Notes. If an Event of Default occurs during any
time that the Notes are outstanding, by reason of any willful action (or
inaction) taken (or not taken) by or on behalf of the Company with the intention
of avoiding the prohibition on redemption of the Notes, then the premium
specified in the Indenture shall also become immediately due and payable to the
extent permitted by law upon the acceleration of the Notes.

               14. Trustee Dealings with Company. The Trustee in its individual
or any other capacity may become the owner or pledgee of Notes and may become a
creditor of, or otherwise deal with the Company or its Affiliates with the same
rights as it would have had as if it were not Trustee.

               15. No Recourse Against Others. No director, officer, employee,
incorporator or stockholder of the Company shall have any liability for any of
the Company's obligations under the Notes, the Indenture or for any claim based
on, in respect of, or by reason of, these obligations or their creation. Each
Holder by accepting a Note waives and releases these individuals from this
liability. The waiver and release are part of the consideration for issuance of
the Notes.

               16. Authentication. This Note shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent.

               17. CUSIP Numbers. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has
caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders. No representation
is made as to the correctness of such numbers either as printed on the Notes or
as contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

               The Company shall furnish to any Holder upon written request and
without charge a copy of the Indenture and/or the Registration Rights Agreement.
Requests may be made to:

               Longview Fibre Company
               300 Fibre Way
               Longview, WA 98632
               Facsimile No:  (360) 423-0320
               Attention:  Secretary

                                       8
<PAGE>

                                 ASSIGNMENT FORM

               To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to: __________________________________
                                                (Insert assignee's legal name)

________________________________________________________________________________
                  (Insert assignee's soc. sec. or tax I.D. no.)

________________________________________________________________________________

________________________________________________________________________________
              (Print or type assignee's name, address and zip code)

and irrevocably appoint ________________________________________________________

to transfer this Note on the books of the Company. The agent may substitute
another to act for him.

Date:__________________

                                Your Signature:_________________________________
                                               (Sign exactly as your name
                                               appears on the face of this Note)

Signature Guarantee*:_______________

* Participant in a recognized Signature Guarantee Medallion Program (or other
  signature guarantor acceptable to the Trustee).

                                       9
<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

               If you want to elect to have this Note purchased by the Company
pursuant to Section 4.10 or 4.15 of the Indenture, check this box: |_|

               If you want to elect to have only part of the Note purchased by
the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, state the
amount you elect to have purchased:

$____________________

Date:________________

               Your Signature:_____________________________________________
                                 (Sign  exactly as your name appears on
                                 the face of this Note)

               Tax Identification No.:_____________________________________

Signature Guarantee*:______________________

* Participant in a recognized Signature Guarantee Medallion Program (or other
  signature guarantor acceptable to the Trustee).

                                       10
<PAGE>

              SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

               The following exchanges of a part of this Global Note for an
interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note,
have been made:

<TABLE>
<CAPTION>
                                                                 Principal Amount          Signature of
                   Amount of  Decrease    Amount of Increase     of this Global Note       Authorized Officer
                   in Principal Amount    in Principal Amount    Following such            of Trustee or
Date of Exchange   of this Global Note    of this Global Note    decrease (or increase)    Note Custodian
----------------   -------------------    -------------------    ----------------------    ------------------
<S>                <C>                    <C>                    <C>                       <C>

</TABLE>

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