Document:

Exhibit 4.8

 

 

 

B&G
Foods, Inc.

 

 

INDENTURE

 

Dated
as of               ,
20  

 

 

 

                                                    ,

as
Trustee

 

 

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE I. DEFINITIONS
  AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.1.

  	
  Definitions

  	
  1

  
	
  Section 1.2.

  	
  Other Definitions

  	
  7

  
	
  Section 1.3.

  	
  Incorporation by Reference
  of Trust Indenture Act

  	
  7

  
	
  Section 1.4.

  	
  Rules of
  Construction

  	
  8

  
	
  ARTICLE
  II. THE SECURITIES

  	
  8

  
	
  Section 2.1.

  	
  Issuable in Series

  	
  8

  
	
  Section 2.2.

  	
  Establishment of Terms
  of Series of Securities

  	
  9

  
	
  Section 2.3.

  	
  Execution and
  Authentication

  	
  11

  
	
  Section 2.4.

  	
  Registrar and Paying
  Agent

  	
  12

  
	
  Section 2.5.

  	
  Paying Agent to Hold
  Money in Trust

  	
  12

  
	
  Section 2.6.

  	
  Securityholder Lists

  	
  13

  
	
  Section 2.7.

  	
  Transfer and Exchange

  	
  13

  
	
  Section 2.8.

  	
  Mutilated, Destroyed,
  Lost and Stolen Securities

  	
  13

  
	
  Section 2.9.

  	
  Outstanding Securities

  	
  14

  
	
  Section 2.10.

  	
  Treasury Securities

  	
  15

  
	
  Section 2.11.

  	
  Temporary Securities

  	
  15

  
	
  Section 2.12.

  	
  Cancellation

  	
  15

  
	
  Section 2.13.

  	
  Defaulted Interest

  	
  15

  
	
  Section 2.14.

  	
  Global Securities

  	
  15

  
	
  Section 2.15.

  	
  CUSIP Numbers

  	
  17

  
	
  ARTICLE
  III. REDEMPTION

  	
  17

  
	
  Section 3.1.

  	
  Notice to Trustee

  	
  17

  
	
  Section 3.2.

  	
  Selection of Securities
  to be Redeemed or Repurchased

  	
  17

  
	
  Section 3.3.

  	
  Notice of Redemption

  	
  18

  
	
  Section 3.4.

  	
  Effect of Notice of
  Redemption

  	
  18

  
	
  Section 3.5.

  	
  Deposit of Redemption
  Price

  	
  18

  
	
  Section 3.6.

  	
  Securities Redeemed in
  Part

  	
  19

  
	
  ARTICLE
  IV. COVENANTS

  	
  19

  
	
  Section 4.1.

  	
  Payment of Principal
  and Interest

  	
  19

  
	
  Section 4.2.

  	
  Maintenance of Office
  or Agency

  	
  19

  
	
  Section 4.3.

  	
  SEC Reports

  	
  20

  
	
  Section 4.4.

  	
  Compliance Certificate

  	
  20

  
	
  Section 4.5.

  	
  Taxes

  	
  21

  
	
  Section 4.6.

  	
  Stay, Extension and
  Usury Laws

  	
  21

  
	
  Section 4.7.

  	
  Corporate Existence

  	
  21

  
	
  ARTICLE
  V. SUCCESSORS

  	
  22

  
	
  Section 5.1.

  	
  Merger, Consolidation,
  or Sale of Assets

  	
  22

  
	
  Section 5.2.

  	
  Successor Corporation
  Substituted

  	
  23

  
	
  ARTICLE
  VI. DEFAULTS AND REMEDIES

  	
  23

  
	
  Section 6.1.

  	
  Events of Default

  	
  23

  
	
  Section 6.2.

  	
  Acceleration

  	
  25

  
	
  Section 6.3.

  	
  Other Remedies

  	
  25

  

 

i

 

	
  Section 6.4.

  	
  Waiver of Past Defaults

  	
  25

  
	
  Section 6.5.

  	
  Control by Majority

  	
  26

  
	
  Section 6.6.

  	
  Limitation on Suits

  	
  26

  
	
  Section 6.7.

  	
  Rights of Holders of
  Securities to Receive Payment

  	
  27

  
	
  Section 6.8.

  	
  Collection Suit by
  Trustee

  	
  27

  
	
  Section 6.9.

  	
  Trustee May File
  Proofs of Claim

  	
  27

  
	
  Section 6.10.

  	
  Priorities

  	
  28

  
	
  Section 6.11.

  	
  Undertaking for Costs

  	
  28

  
	
  ARTICLE
  VII. TRUSTEE

  	
  28

  
	
  Section 7.1.

  	
  Duties of Trustee

  	
  28

  
	
  Section 7.2.

  	
  Rights of Trustee

  	
  30

  
	
  Section 7.3.

  	
  Individual Rights of
  Trustee

  	
  31

  
	
  Section 7.4.

  	
  Trustee’s Disclaimer

  	
  31

  
	
  Section 7.5.

  	
  Notice of Defaults

  	
  31

  
	
  Section 7.6.

  	
  Reports by Trustee to
  Holders

  	
  31

  
	
  Section 7.7.

  	
  Compensation and
  Indemnity

  	
  31

  
	
  Section 7.8.

  	
  Replacement of Trustee

  	
  32

  
	
  Section 7.9.

  	
  Successor Trustee by
  Merger, etc.

  	
  33

  
	
  Section 7.10.

  	
  Eligibility;
  Disqualification

  	
  33

  
	
  Section 7.11.

  	
  Preferential Collection
  of Claims Against Company

  	
  33

  
	
  ARTICLE
  VIII. LEGAL DEFEASANCE AND COVENANT DEFEASANCE

  	
  34

  
	
  Section 8.1.

  	
  Option to Effect Legal
  Defeasance or Covenant Defeasance

  	
  34

  
	
  Section 8.2.

  	
  Legal Defeasance and
  Discharge

  	
  34

  
	
  Section 8.3.

  	
  Covenant Defeasance

  	
  34

  
	
  Section 8.4.

  	
  Conditions to Legal or
  Covenant Defeasance

  	
  35

  
	
  Section 8.5.

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

  	
  36

  
	
  Section 8.6.

  	
  Repayment to Company

  	
  37

  
	
  Section 8.7.

  	
  Reinstatement

  	
  37

  
	
  ARTICLE
  IX. AMENDMENTS AND WAIVERS

  	
  37

  
	
  Section 9.1.

  	
  Without Consent of
  Holders

  	
  37

  
	
  Section 9.2.

  	
  With Consent of Holders

  	
  38

  
	
  Section 9.3.

  	
  Limitations

  	
  39

  
	
  Section 9.4.

  	
  Compliance with Trust
  Indenture Act

  	
  40

  
	
  Section 9.5.

  	
  Revocation and Effect
  of Consents

  	
  40

  
	
  Section 9.6.

  	
  Notation on or Exchange
  of Securities

  	
  40

  
	
  Section 9.7.

  	
  Trustee Protected

  	
  40

  
	
  ARTICLE
  X. SATISFACTION AND DISCHARGE

  	
  40

  
	
  Section 10.1.

  	
  Satisfaction and
  Discharge

  	
  40

  
	
  Section 10.2.

  	
  Application of Trust
  Money

  	
  41

  
	
  ARTICLE
  XI. MISCELLANEOUS

  	
  42

  
	
  Section 11.1.

  	
  Trust Indenture Act
  Controls

  	
  42

  
	
  Section 11.2.

  	
  Notices

  	
  42

  
	
  Section 11.3.

  	
  Communication by
  Holders with Other Holders

  	
  43

  
	
  Section 11.4.

  	
  Certificate and Opinion
  as to Conditions Precedent

  	
  43

  
	
  Section 11.5.

  	
  Statements Required in
  Certificate or Opinion

  	
  43

  

 

ii

 

	
  Section 11.6.

  	
  Rules by Trustee
  and Agents

  	
  44

  
	
  Section 11.7.

  	
  Legal Holidays

  	
  44

  
	
  Section 11.8.

  	
  No Recourse Against
  Others

  	
  44

  
	
  Section 11.9.

  	
  Counterparts

  	
  44

  
	
  Section 11.10.

  	
  Governing Laws

  	
  44

  
	
  Section 11.11.

  	
  No Adverse Interpretation
  of Other Agreements

  	
  44

  
	
  Section 11.12.

  	
  Successors

  	
  44

  
	
  Section 11.13.

  	
  Severability

  	
  45

  
	
  Section 11.14.

  	
  Table of Contents,
  Headings, Etc.

  	
  45

  
	
  Section 11.15.

  	
  Securities in a Foreign
  Currency or in ECU

  	
  45

  
	
  Section 11.16.

  	
  Judgment Currency

  	
  46

  
	
  ARTICLE
  XII. SINKING FUNDS

  	
  46

  
	
  Section 12.1.

  	
  Applicability of
  Article

  	
  46

  
	
  Section 12.2.

  	
  Satisfaction of Sinking
  Fund Payments with Securities

  	
  46

  
	
  Section 12.3.

  	
  Redemption of Securities for Sinking Fund

  	
  47

  

 

iii

 

B&G FOODS, INC.

 

Reconciliation
and tie between Trust Indenture Act of 1939 and

Indenture, dated as of                         , 20  

 

	
  § 310(a)(1)

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
  Not Applicable

  
	
  (a)(4)

  	
   

  	
  Not Applicable

  
	
  (a)(5)

  	
   

  	
  7.10

  
	
  (b)

  	
   

  	
  7.10

  
	
  (c)

  	
   

  	
  Not Applicable

  
	
  § 311(a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  Not Applicable

  
	
  § 312(a)

  	
   

  	
  2.6

  
	
  (b)

  	
   

  	
  11.3

  
	
  (c)

  	
   

  	
  11.3

  
	
  § 313(a)

  	
   

  	
  7.6

  
	
  (b)(1)

  	
   

  	
  7.6

  
	
  (b)(2)

  	
   

  	
  7.6

  
	
  (c)(1)

  	
   

  	
  7.6

  
	
  (d)

  	
   

  	
  7.6

  
	
  § 314(a)

  	
   

  	
  4.3, 11.5

  
	
  (b)

  	
   

  	
  Not Applicable

  
	
  (c)(1)

  	
   

  	
  11.4

  
	
  (c)(2)

  	
   

  	
  11.4

  
	
  (c)(3)

  	
   

  	
  Not Applicable

  
	
  (d)

  	
   

  	
  Not Applicable

  
	
  (e)

  	
   

  	
  11.5

  
	
  (f)

  	
   

  	
  Not Applicable

  
	
  § 315(a)

  	
   

  	
  7.1

  
	
  (b)

  	
   

  	
  7.5

  
	
  (c)

  	
   

  	
  7.1

  
	
  (d)

  	
   

  	
  7.1

  
	
  (e)

  	
   

  	
  6.11

  
	
  § 316(a)

  	
   

  	
  2.10

  
	
  (a)(1)(A)

  	
   

  	
  6.5

  
	
  (a)(1)(B)

  	
   

  	
  6.4

  
	
  (b)

  	
   

  	
  6.7

  
	
  § 317(a)(1)

  	
   

  	
  6.8

  
	
  (a)(2)

  	
   

  	
  6.9

  
	
  (b)

  	
   

  	
  2.5

  
	
  § 318(a)

  	
   

  	
  11.1

  

 

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

 

iv

 

Indenture dated as of                       ,
20     between B&G Foods, Inc., a Delaware
corporation (“Company”), and
                                      ,
as trustee (“Trustee”).

 

Each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the
Securities issued under this Indenture.

 

ARTICLE I.

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1.            Definitions.

 

“Additional Amounts” means any additional amounts
which are required hereby or by any Security, under circumstances specified
herein or therein, to be paid by the Company in respect of certain taxes
imposed on Holders specified herein or therein and which are owing to such
Holders.

 

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

 

“Agent” means any Registrar, Paying Agent or Service
Agent.

 

“Attributable Debt” in respect of a sale and leaseback
transaction means, at the time of determination, the present value of the
obligation of the lessee for net rental payments during the remaining term of
the lease included in such sale and leaseback transaction including any period
for which such lease has been extended or may, at the option of the lessor, be
extended.  Such present value shall be
calculated using a discount rate equal to the rate of interest implicit in such
transaction, determined in accordance with GAAP; provided, however,
that if such sale and leaseback transaction results in a Capital Lease
Obligation, the amount of Indebtedness represented thereby will be determined
in accordance with the definition of “Capital Lease Obligation.”

 

“Authorized Newspaper” means a newspaper in an
official language of the country of publication customarily published at least
once a day for at least five days in each calendar week and of general
circulation in the place in connection with which the term is used.  If it shall be impractical in the opinion of
the Trustee to make any publication of any notice required hereby in an
Authorized Newspaper, any publication or other notice in lieu thereof that is
made or given by the Trustee shall constitute a sufficient publication of such
notice.

 

“Bearer” means anyone in possession from time to time
of a Bearer Security.

 

“Bearer Security” means any Security, including any
interest coupon appertaining thereto, that does not provide for the
identification of the Holder thereof.

 

 

“Board of Directors” means:

 

(1)           with
respect to a corporation, the board of directors of the corporation or any
committee thereof duly authorized to act on behalf of such board;

 

(2)           with
respect to a partnership, the Board of Directors of the general partner of the
partnership;

 

(3)           with
respect to a limited liability company, the managing member or members or any
controlling committee of managing members thereof; and

 

(4)           with
respect to any other person, the board or committee of such person serving a
similar function.

 

“Board Resolution” means a copy of a resolution
certified by the Secretary or an Assistant Secretary of the Company to have been
adopted by the Board of Directors or pursuant to authorization by the Board of
Directors and to be in full force and effect on the date of the certificate and
delivered to the Trustee.

 

“Business Day” means, unless otherwise provided by
Board Resolution, Officers’ Certificate or supplemental indenture hereto for a
particular Series, any day except a Saturday, Sunday or a legal holiday in The
City of New York on which banking institutions are authorized or required by
law, regulation or executive order to close.

 

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

 

“Capital Stock” means:

 

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

 

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

 

(3)           in
the case of a partnership or limited liability company, partnership interests
(whether general or limited) or membership interests; and

 

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

 

“Company” means the party named as such above until a
successor replaces it and thereafter means the successor.

 

2

 

“Company Order” means a written order signed in the
name of the Company by two Officers, one of whom must be the Company’s
principal executive officer, principal financial officer or principal
accounting officer.

 

“Company Request” means a written request signed in
the name of the Company by its Chief Executive Officer, the President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary or an
Assistant Secretary, and delivered to the Trustee.

 

“Corporate Trust Office” means the office of the
Trustee at which at any particular time its corporate trust business shall be
principally administered.

 

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

 

“Depository” means, with respect to the Securities of
any Series issuable or issued in whole or in part in the form of one or
more Global Securities, the person designated as Depository for such Series by
the Company, which Depository shall be a clearing agency registered under the
Exchange Act; and if at any time there is more than one such person, “Depository”
as used with respect to the Securities of any Series shall mean the
Depository with respect to the Securities of such Series.

 

“Discount Security” means any Security that provides
for an amount less than the stated principal amount thereof to be due and
payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2.

 

“Dollars” and “$”means the currency of The United
States of America.

 

“ECU” means the European Currency Unit as determined
by the Commission of the European Union.

 

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

 

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

 

“Foreign Currency” means any currency or currency unit
issued by a government other than the government of The United States of
America.

 

“Foreign Government Obligations” means, with respect
to Securities of any Series that are denominated in a Foreign Currency, (i) direct
obligations of the government that issued or caused to be issued such currency
for the payment of which obligations its full faith and credit is pledged or (ii) obligations
of a person controlled or supervised by or acting as an agency or
instrumentality of such government the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation by such
government, which, in either case under clauses (i) or (ii), are not
callable or redeemable at the option of the issuer thereof.

 

3

 

“GAAP” means generally accepted accounting principles
set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment
of the accounting profession, which are in effect from time to time.

 

“Global Security” or “Global Securities” means a
Security or Securities, as the case may be, in the form established pursuant to
Section 2.2 evidencing all or part of a Series of Securities, issued
to the Depository for such Series or its nominee, and registered in the
name of such Depository or nominee.

 

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

 

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

 

“Hedging Obligations” means, with respect to any
specified person, the obligations of such person under:

 

(1)           interest
rate swap agreements (whether from fixed to floating or from floating to
fixed), interest rate cap agreements and interest rate collar agreements;

 

(2)           other
agreements or arrangements designed to manage interest rates or interest rate
risk; and

 

(3)           other
agreements or arrangements designed to protect such Person against fluctuations
in currency exchange rates or commodity prices.

 

“Holder” or “Securityholder” means a person in whose
name a Security is registered or the holder of a Bearer Security.

 

“Indebtedness” means, with respect to any specified
person, any indebtedness of such person (excluding accrued expenses and trade
payables), whether or not contingent:

 

(1)           in
respect of borrowed money;

 

(2)           evidenced
by bonds, notes, debentures or similar instruments or letters of credit (or
reimbursement agreements in respect thereof);

 

(3)           in
respect of banker’s acceptances;

 

4

 

(4)           representing
Capital Lease Obligations or Attributable Debt in respect of sale and leaseback
transactions;

 

(5)           representing
the balance deferred and unpaid of the purchase price of any property
(including trade payables) or services due more than six months after such
property is acquired or such services are completed; or

 

(6)           representing
the net amount owing under any Hedging Obligations,

 

if and to the extent any
of the preceding items (other than letters of credit, Attributable Debt and
Hedging Obligations) would appear as a liability upon a balance sheet of the
specified person prepared in accordance with GAAP.  In addition, the term “Indebtedness” includes
all Indebtedness of others secured by a Lien on any asset of the specified
person (whether or not such Indebtedness is assumed by the specified person)
and, to the extent not otherwise included, the Guarantee by the specified
person of any Indebtedness of any other person; provided, that the
amount of such Indebtedness shall be deemed not to exceed the lesser of the
amount secured by such Lien and the value of the person’s property securing
such Lien.

 

“Indenture” means this Indenture as amended or
supplemented from time to time and shall include the form and terms of particular
Series of Securities established as contemplated hereunder.

 

“interest” with respect to any Discount Security which
by its terms bears interest only after Maturity, means interest payable after
Maturity.

 

“Lien” means, with respect to any asset:

 

(1)           any
mortgage, deed of trust, deed to secure debt, lien (statutory or otherwise),
pledge, hypothecation, encumbrance, restriction, collateral assignment, charge
or security interest in, on or of such asset;

 

(2)           the
interest of a vendor or a lessor under any conditional sale agreement, capital
lease or title retention agreement (or any financing lease having substantially
the same economic effect as any of the foregoing) relating to such asset; and

 

(3)           in
the case of Equity Interests or debt securities, any purchase option, call or
similar right of a third party with respect to such Equity Interests or debt
securities.

 

“Maturity,” when used with respect to any Security or
installment of principal thereof, means the date on which the principal of such
Security or such installment of principal becomes due and payable as therein or
herein provided, whether at the Stated Maturity or by declaration of
acceleration, call for redemption, notice of option to elect repayment or
otherwise.

 

“Officer” means the Chief Executive Officer, the
President, any Vice President, the Treasurer, the Secretary, any Assistant
Treasurer or any Assistant Secretary of the Company.

 

5

 

“Officers’ Certificate” means a certificate signed by
two Officers, one of whom must be the Company’s principal executive officer,
principal financial officer or principal accounting officer.

 

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

 

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

 

“principal” of a Security means the principal of the
Security plus, when appropriate, the premium, if any, on, and any Additional
Amounts in respect of, the Security.

 

“Responsible Officer” means any officer of the Trustee
in its Corporate Trust Office (including any managing director, director, vice
president, assistant vice president, trust officer or corporate secretary) and
also means, with respect to a particular corporate trust matter, any other
officer customarily performing functions similar to those performed by the
above designated officers and also means, any other officer to whom any
corporate trust matter is referred because of his or her knowledge of and
familiarity with a particular subject.

 

“SEC” means the Securities and Exchange Commission.

 

“Securities” means the debentures, notes or other debt
instruments of the Company of any Series authenticated and delivered under
this Indenture.

 

“Series” or “Series of Securities” means each
series of debentures, notes or other debt instruments of the Company created
pursuant to Sections 2.1 and 2.2 hereof.

 

“Stated Maturity” means, with respect to any
installment of interest or principal on any series of Indebtedness, the date on
which the payment of interest or principal was scheduled to be paid in the
documentation governing such Indebtedness as of the date of the indenture, and
will not include any contingent obligations to repay, redeem or repurchase any
such interest or principal prior to the date originally scheduled for the
payment thereof.

 

“Subsidiary” means, with
respect to any specified person:

 

(1)           any
corporation, association or other business entity of which more than 50% of the
total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency and after giving effect to any voting agreement
or stockholders’ agreement that effectively transfers voting power) to vote in
the election of directors, managers or trustees of the corporation, association
or other business entity is at the time owned or controlled, directly or
indirectly, by that person or one or more of the other Subsidiaries of that
person (or a combination thereof); and

 

(2)           any
partnership (a) the sole general partner or the managing general partner
of which is such person or a Subsidiary of such person or (b) the only
general 

 

6

 

partners of which are that person or one or
more Subsidiaries of that person (or any combination thereof).

 

“TIA” means the Trust Indenture Act of 1939 (15 U.S.
Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided,
however, that in the event the Trust Indenture Act of 1939 is amended
after such date, “TIA” means, to the extent required by any such amendment, the
Trust Indenture Act as so amended.

 

“Trustee” means the person named as the “Trustee” in
the first paragraph of this instrument until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and
thereafter “Trustee” shall mean each person who is then a Trustee hereunder,
and if at any time there is more than one such person, “Trustee” as used with
respect to the Securities of any Series shall mean the Trustee with
respect to Securities of that Series.

 

“Voting Stock” of any person as of any date means the
Capital Stock of such person that is at the time entitled to vote in the
election of the Board of Directors of such person.

 

Section 1.2.            Other
Definitions.

 

	
   

  	
   

  	
  DEFINED
  IN

  
	
  TERM

  	
   

  	
  SECTION

  
	
   

  	
   

  	
   

  
	
  “Bankruptcy Law”

  	
   

  	
  6.1

  
	
  “Custodian”

  	
   

  	
  6.1

  
	
  “Event of Default”

  	
   

  	
  6.1

  
	
  “Journal”

  	
   

  	
  11.15

  
	
  “Judgment Currency”

  	
   

  	
  11.16

  
	
  “Legal Holiday”

  	
   

  	
  11.7

  
	
  “mandatory sinking fund
  payment”

  	
   

  	
  12.1

  
	
  “Market Exchange Rate”

  	
   

  	
  11.15

  
	
  “New York Banking Day”

  	
   

  	
  11.16

  
	
  “optional sinking fund
  payment”

  	
   

  	
  12.1

  
	
  “Paying Agent”

  	
   

  	
  2.4

  
	
  “Payment Default”

  	
   

  	
  6.1

  
	
  “Registrar”

  	
   

  	
  2.4

  
	
  “Required Currency”

  	
   

  	
  11.16

  
	
  “Service Agent”

  	
   

  	
  2.4

  

 

Section 1.3.            Incorporation by Reference of
Trust Indenture Act.

 

Whenever this Indenture refers to a provision of the
TIA, the provision is incorporated by reference in and made a part of this
Indenture.  The following TIA terms used
in this Indenture have the following meanings:

 

“Commission” means the SEC.

 

7

 

“indenture securities” means the Securities.

 

“indenture security holder” means a Securityholder.

 

“indenture to be qualified” means this Indenture.

 

“indenture trustee” or “institutional trustee” means the Trustee.

 

“obligor” on the
indenture securities means the Company and any successor obligor upon the
Securities.

 

All other terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by
SEC rule under the TIA and not otherwise defined herein are used herein as
so defined.

 

Section 1.4.            Rules of Construction.

 

Unless the context otherwise requires:

 

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

 

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

 

(c)           references
to “generally accepted accounting principles” and “GAAP” shall mean generally
accepted accounting principles in effect as of the time when and for the period
as to which such accounting principles are to be applied;

 

(d)           “or”
is not exclusive;

 

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

 

(f)            provisions
apply to successive events and transactions.

 

ARTICLE II.

THE SECURITIES

 

Section 2.1.            Issuable in Series.

 

The aggregate principal amount of Securities that may
be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more
Series. All Securities of a Series shall be identical except as may be set
forth in a Board Resolution, a supplemental indenture or an Officers’
Certificate detailing the adoption of the terms thereof pursuant to the
authority granted under a Board Resolution. In the case of Securities of a Series to
be issued from time to time, the Board Resolution, Officers’ Certificate or
supplemental indenture detailing the adoption of the terms thereof pursuant to
authority granted under a Board Resolution may provide for the method by which
specified terms (such as interest rate, maturity date, record date or date from
which interest shall accrue) are to be determined.  Securities may 

 

8

 

differ between Series in
respect of any matters, provided that all Series of Securities
shall be equally and ratably entitled to the benefits of the Indenture.

 

Section 2.2.            Establishment of Terms of
Series of Securities.

 

At or prior to the issuance of any Securities within a
Series, the following shall be established (as to the Series generally, in
the case of Subsection 2.2.1 and either as to such Securities within the Series or
as to the Series generally in the case of Subsections 2.2.2 through
2.2.21) by or pursuant to a Board Resolution, and set forth or determined in
the manner provided in a Board Resolution, supplemental indenture or an
Officers’ Certificate pursuant to authority granted under a Board Resolution:

 

2.2.1.               the title of the Series (which
shall distinguish the Securities of that particular Series from the
Securities of any other Series);

 

2.2.2.               the price or prices (expressed as
a percentage of the principal amount thereof) at which the Securities of the Series will
be issued;

 

2.2.3.               any limit upon the aggregate
principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Securities of the Series pursuant to Section 2.7, 2.8,
2.11, 3.6 or 9.6);

 

2.2.4.               the date or dates on which the
principal of the Securities of the Series is payable;

 

2.2.5.               the rate or rates (which may be
fixed or variable) per annum or, if applicable, the method used to determine
such rate or rates (including, but not limited to, any commodity, commodity
index, stock exchange index or financial index) at which the Securities of the Series shall
bear interest, if any, the date or dates from which such interest, if any,
shall accrue, the date or dates on which such interest, if any, shall commence
and be payable and any regular record date for the interest payable on any
interest payment date;

 

2.2.6.               the place or places where the
principal of and interest, if any, on the Securities of the Series shall
be payable, where the Securities of such Series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Securities of such Series and this Indenture
may be served, and the method of such payment, if by wire transfer, mail or
other means;

 

2.2.7.               if applicable, the period or
periods within which, the price or prices at which and the terms and conditions
upon which the Securities of the Series may be redeemed, in whole or in
part, at the option of the Company;

 

2.2.8.               the obligation, if any, of the
Company to redeem or purchase the Securities of the Series pursuant to any
sinking fund or analogous provisions or at the option of a Holder thereof and
the period or periods within which, the price or prices at which and the terms
and conditions upon which Securities of the Series shall be redeemed or
purchased, in whole or in part, pursuant to such obligation;

 

9

 

2.2.9.               the dates, if any, on which and
the price or prices at which the Securities of the Series will be
repurchased by the Company at the option of the Holders thereof and other
detailed terms and provisions of such repurchase obligations;

 

2.2.10.             if other than denominations of
$1,000 and any integral multiple thereof, the denominations in which the
Securities of the Series shall be issuable;

 

2.2.11.             the forms of the Securities of the Series in
bearer or fully registered form (and, if in fully registered form, whether the
Securities will be issuable as Global Securities);

 

2.2.12.             if other than the principal amount
thereof, the portion of the principal amount of the Securities of the Series that
shall be payable upon declaration of acceleration of the maturity thereof
pursuant to Section 6.2;

 

2.2.13.             the currency of denomination of the
Securities of the Series, which may be Dollars or any Foreign Currency,
including, but not limited to, the ECU, and if such currency of denomination is
a composite currency other than the ECU, the agency or organization, if any,
responsible for overseeing such composite currency;

 

2.2.14.             the designation of the currency,
currencies or currency units in which payment of the principal of and interest,
if any, on the Securities of the Series will be made;

 

2.2.15.             if payments of principal of or
interest, if any, on the Securities of the Series are to be made in one or
more currencies or currency units other than that or those in which such
Securities are denominated, the manner in which the exchange rate with respect
to such payments will be determined;

 

2.2.16.             the manner in which the amounts of
payment of principal of or interest, if any, on the Securities of the Series will
be determined, if such amounts may be determined by reference to an index based
on a currency or currencies or by reference to a commodity, commodity index,
stock exchange index or financial index;

 

2.2.17.             the provisions, if any, relating to
any security or guarantee provided for the Securities of the Series, and any
subordination in right of payment, if any, of the Securities of the Series;

 

2.2.18.             any addition to or change in the
Events of Default which applies to any Securities of the Series and any
change in the right of the Trustee or the requisite Holders of such Securities
to declare the principal amount thereof due and payable pursuant to Section 6.2;

 

2.2.19.             any addition to or change in the
covenants set forth in Articles IV or V which applies to Securities of the
Series;

 

2.2.20.             any other terms of the Securities
of the Series (which may modify or delete any provision of this Indenture
insofar as it applies to such Series); and

 

10

 

2.2.21.             any depositories, interest rate
calculation agents, exchange rate calculation agents or other agents with
respect to Securities of such Series if other than those appointed herein.

 

All Securities of any one Series need not be
issued at the same time and may be issued from time to time, consistent with
the terms of this Indenture, if so provided by or pursuant to the Board
Resolution, supplemental indenture hereto or Officers’ Certificate referred to
above, and the authorized principal amount of any Series may not be
increased to provide for issuances of additional Securities of such Series,
unless otherwise provided in such Board Resolution, supplemental indenture or
Officers’ Certificate.

 

Section 2.3.            Execution and Authentication.

 

Two Officers shall sign the Securities for the Company
by manual or facsimile signature.

 

If an Officer whose signature is on a Security no
longer holds that office at the time the Security is authenticated, the
Security shall nevertheless be valid.

 

A Security shall not be valid until authenticated by
the manual signature of the Trustee or an authenticating agent.  The signature shall be conclusive evidence
that the Security has been authenticated under this Indenture.

 

The Trustee shall at any time, and from time to time,
authenticate Securities for original issue in the principal amount provided in
the Board Resolution, supplemental indenture hereto or Officers’ Certificate,
upon receipt by the Trustee of a Company Order.  Such Company Order may authorize
authentication and delivery pursuant to oral or electronic instructions from
the Company or its duly authorized agent or agents, which oral instructions
shall be promptly confirmed in writing. 
Each Security shall be dated the date of its authentication unless
otherwise provided by a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate.

 

The aggregate principal amount of Securities of any Series outstanding
at any time may not exceed any limit upon the maximum principal amount for such
Series set forth in the Board Resolution, supplemental indenture hereto or
Officers’ Certificate delivered pursuant to Section 2.2, except as
provided in Section 2.8.

 

Prior to the issuance of Securities of any Series, the
Trustee shall have received and (subject to Section 7.2) shall be fully
protected in relying on:  (a) the
Board Resolution, supplemental indenture hereto or Officers’ Certificate
establishing the form of the Securities of that Series or of Securities within
that Series and the terms of the Securities of that Series or of
Securities within that Series, (b) an Officers’ Certificate complying with
Section 11.4, and (c) an Opinion of Counsel complying with Section 11.4.

 

The Trustee shall have the right to decline to
authenticate and deliver any Securities of such Series: (a) if the
Trustee, being advised by counsel, determines that such action may not be taken
lawfully; or (b) if the Trustee in good faith by its board of directors or
trustees, executive committee or a trust committee of directors and/or
vice-presidents shall 

 

11

 

determine that such
action would expose the Trustee to personal liability to Holders of any then
outstanding Series of Securities.

 

The Trustee may appoint an authenticating agent
acceptable to the Company to authenticate Securities.  An authenticating agent may authenticate
Securities whenever the Trustee may do so. 
Each reference in this Indenture to authentication by the Trustee includes
authentication by such agent.  An
authenticating agent has the same rights as an Agent to deal with the Company
or an Affiliate of the Company.

 

Section 2.4.            Registrar and Paying Agent.

 

The Company shall maintain, with respect to each Series of
Securities, at the place or places specified with respect to such Series pursuant
to Section 2.2, an office or agency where Securities of such Series may
be presented or surrendered for payment (“Paying Agent”), where Securities of
such Series may be surrendered for registration of transfer or exchange (“Registrar”)
and where notices and demands to or upon the Company in respect of the
Securities of such Series and this Indenture may be served (“Service Agent”).  The Registrar shall keep a register with
respect to each Series of Securities and to their transfer and
exchange.  The Company will give prompt
written notice to the Trustee of the name and address, and any change in the
name or address, of each Registrar, Paying Agent or Service Agent.  If at any time the Company shall fail to
maintain any such required Registrar, Paying Agent or Service Agent or shall
fail to furnish the Trustee with the name and address thereof, such
presentations, surrenders, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and
demands.

 

The Company may also from time to time designate one
or more co-registrars, additional paying agents or additional service agents
and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company
of its obligations to maintain a Registrar, Paying Agent and Service Agent in
each place so specified pursuant to Section 2.2 for Securities of any Series for
such purposes.  The Company will give
prompt written notice to the Trustee of any such designation or rescission and
of any change in the name or address of any such co-registrar, additional
paying agent or additional service agent. 
The term “Registrar” includes any co-registrar; the term “Paying Agent”
includes any additional paying agent; and the term “Service Agent” includes any
additional service agent.

 

The Company hereby appoints the Trustee the initial
Registrar, Paying Agent and Service Agent for each Series unless another
Registrar, Paying Agent or Service Agent, as the case may be, is appointed
prior to the time Securities of that Series are first issued.

 

Section 2.5.            Paying Agent to Hold Money in
Trust.

 

The Company shall require each Paying Agent other than
the Trustee to agree in writing that the Paying Agent will hold in trust, for
the benefit of Securityholders of any Series of Securities, or the
Trustee, all money held by the Paying Agent for the payment of principal of or
interest on the Series of Securities, and will notify the Trustee of any
default by the Company 

 

12

 

in making any such
payment.  While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee.  The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary of the Company) shall have no
further liability for the money.  If the
Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate
and hold in a separate trust fund for the benefit of Securityholders of any Series of
Securities all money held by it as Paying Agent.

 

Section 2.6.            Securityholder Lists.

 

The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders of each Series of Securities and shall
otherwise comply with TIA § 312(a).  If
the Trustee is not the Registrar, the Company shall furnish to the Trustee at
least ten days before each interest payment date and at such other times as the
Trustee may request in writing a list, in such form and as of such date as the
Trustee may reasonably require, of the names and addresses of Securityholders
of each Series of Securities.

 

Section 2.7.            Transfer and Exchange.

 

Where Securities of a Series are presented to the
Registrar or a co-registrar with a request to register a transfer or to
exchange them for an equal principal amount of Securities of the same Series,
the Registrar shall register the transfer or make the exchange if its
requirements for such transactions are met. 
To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities at the Registrar’s request.  No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted
herein), but the Company may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer tax or similar governmental charge payable upon
exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 

Neither the Company nor the Registrar shall be
required (a) to issue, register the transfer of, or exchange Securities of
any Series for the period beginning at the opening of business fifteen
days immediately preceding the mailing of a notice of redemption of Securities
of that Series selected for redemption and ending at the close of business
on the day of such mailing, or (b) to register the transfer of or exchange
Securities of any Series selected, called or being called for redemption
as a whole or the portion being redeemed of any such Securities selected,
called or being called for redemption in part.

 

Section 2.8.            Mutilated, Destroyed, Lost and
Stolen Securities.

 

If any mutilated Security is surrendered to the Trustee,
the Company shall execute and the Trustee shall authenticate and make available
for delivery in exchange therefor a new Security of the same Series and of
like tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

If there shall be delivered to the Company and the
Trustee (i) evidence to their satisfaction of the destruction, loss or
theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless,
then, in 

 

13

 

the absence of notice to
the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and upon its request the Trustee shall
authenticate and make available for delivery, in lieu of any such destroyed,
lost or stolen Security, a new Security of the same Series and of like
tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

In case any such mutilated, destroyed, lost or stolen
Security has become or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, pay such Security.

 

Upon the issuance of any new Security under this
Section, the Company may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Trustee) connected
therewith.

 

Every new Security of any Series issued pursuant
to this Section in lieu of any destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company,
whether or not the destroyed, lost or stolen Security shall be at any time
enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of that
Series duly issued hereunder.

 

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

 

Section 2.9.            Outstanding Securities.

 

Subject to Section 2.10,
the Securities outstanding at any time are all the Securities authenticated by
the Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest on a Global Security effected by
the Trustee in accordance with the provisions hereof and those described in
this Section as not outstanding.

 

If a Security is replaced pursuant to Section 2.8,
it ceases to be outstanding until the Trustee receives proof satisfactory to it
that the replaced Security is held by a bona fide purchaser.

 

If the Paying Agent (other than the Company, a
Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity
of Securities of a Series money sufficient to pay such Securities payable
on that date, then on and after that date such Securities of the Series cease
to be outstanding and interest on them ceases to accrue.

 

Notwithstanding Section 2.10, a Security does not
cease to be outstanding because the Company or an Affiliate of the Company
holds the Security.

 

In determining whether the Holders of the requisite
principal amount of outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, the principal
amount of a Discount Security that shall be deemed to be outstanding for such
purposes shall be the amount of the principal thereof that would be due and 

 

14

 

payable as of the date of
such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section 6.2.

 

Section 2.10.          Treasury Securities.

 

In determining whether the Holders of the required
principal amount of Securities of a Series have concurred in any request,
demand, authorization, direction, notice, consent or waiver Securities of a Series owned
by the Company or an Affiliate of the Company shall be disregarded, except that
for the purposes of determining whether the Trustee shall be protected in
relying on any such request, demand, authorization, direction, notice, consent
or waiver only Securities of a Series that the Trustee knows are so owned
shall be so disregarded.

 

Section 2.11.          Temporary Securities.

 

Until definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary Securities
upon a Company Order.  Temporary
Securities shall be substantially in the form of definitive Securities but may
have variations that the Company considers appropriate for temporary
Securities.  Without unreasonable delay,
the Company shall prepare and the Trustee upon request shall authenticate
definitive Securities of the same Series and date of maturity in exchange
for temporary Securities.  Until so
exchanged, temporary securities shall have the same rights under this Indenture
as the definitive Securities.

 

Section 2.12.          Cancellation.

 

The Company at any time may deliver Securities to the
Trustee for cancellation.  The Registrar
and the Paying Agent shall forward to the Trustee any Securities surrendered to
them for registration of transfer, exchange or payment.  The Trustee shall cancel all Securities
surrendered for transfer, exchange, payment, replacement or cancellation and
deliver such canceled Securities to the Company, unless the Company otherwise
directs; provided that the Trustee shall not be required to destroy
Securities.  The Company may not issue
new Securities to replace Securities that it has paid or delivered to the
Trustee for cancellation.

 

Section 2.13.          Defaulted Interest.

 

If the Company defaults in a payment of interest on a Series of
Securities, it shall pay the defaulted interest, plus, to the extent permitted
by law, any interest payable on the defaulted interest, to the persons who are
Securityholders of the Series on a subsequent special record date.  The Company shall fix the record date and
payment date.  At least 10 days before
the record date, the Company shall mail to the Trustee and to each
Securityholder of the Series a notice that states the record date, the
payment date and the amount of interest to be paid.  The Company may pay defaulted interest in any
other lawful manner.

 

Section 2.14.          Global Securities.

 

2.14.1.             Terms of Securities.  A Board Resolution, a supplemental indenture
hereto or an Officers’ Certificate shall establish whether the Securities of a Series shall
be issued in whole or in part in the form of one or more Global Securities and the
Depository for such Global Security or Securities.

 

15

 

2.14.2.             Transfer and Exchange. 
Notwithstanding any provisions to the contrary contained in Section 2.7
of the Indenture and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.7 of the Indenture for Securities
registered in the names of Holders other than the Depository for such Security
or its nominee only if (i) such Depository notifies the Company that it is
unwilling or unable to continue as Depository for such Global Security or if at
any time such Depository ceases to be a clearing agency registered under the
Exchange Act, and, in either case, the Company fails to appoint a successor
Depository registered as a clearing agency under the Exchange Act within 90
days of such event, (ii) the Company executes and delivers to the Trustee
an Officers’ Certificate to the effect that such Global Security shall be so
exchangeable or (iii) an Event of Default with respect to the Securities
represented by such Global Security shall have happened and be continuing.  Any Global Security that is exchangeable
pursuant to the preceding sentence shall be exchangeable for Securities
registered in such names as the Depository shall direct in writing in an
aggregate principal amount equal to the principal amount of the Global Security
with like tenor and terms.

 

Except as provided in this Section 2.14.2, a
Global Security may not be transferred except as a whole by the Depository with
respect to such Global Security to a nominee of such Depository, by a nominee
of such Depository to such Depository or another nominee of such Depository or
by the Depository or any such nominee to a successor Depository or a nominee of
such a successor Depository.

 

2.14.3.             Legend.  Any Global
Security issued hereunder shall bear a legend in substantially the following
form:

 

“This Security is a Global Security within the meaning
of the Indenture hereinafter referred to and is registered in the name of the
Depository or a nominee of the Depository. 
This Security is exchangeable for Securities registered in the name of a
person other than the Depository or its nominee only in the limited
circumstances described in the Indenture, and may not be transferred except as
a whole by the Depository to a nominee of the Depository, by a nominee of the
Depository to the Depository or another nominee of the Depository or by the
Depository or any such nominee to a successor Depository or a nominee of such a
successor Depository.”

 

2.14.4.             Acts of Holders.  The
Depository, as a Holder, may appoint agents and otherwise authorize participants
to give or take any request, demand, authorization, direction, notice, consent,
waiver or other action which a Holder is entitled to give or take under the
Indenture.

 

2.14.5.             Payments. 
Notwithstanding the other provisions of this Indenture, unless otherwise
specified as contemplated by Section 2.2, payment of the principal of and
interest, if any, on any Global Security shall be made to the Holder thereof.

 

2.14.6.             Consents, Declaration and Directions. 
Except as provided in Section 2.14.5, the Company, the Trustee and
any Agent shall treat a person as the Holder of such principal amount of
outstanding Securities of such Series represented by a Global Security as
shall be specified in a written statement of the Depository with respect to
such Global Security, 

 

16

 

for purposes of obtaining any consents, declarations,
waivers or directions required to be given by the Holders pursuant to this
Indenture.

 

Section 2.15.          CUSIP
Numbers.

 

The Company in issuing the Securities may use “CUSIP”
numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to Holders; provided
that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained
in any notice of a redemption and that reliance may be placed only on the other
elements of identification printed on the Securities, and any such redemption
shall not be affected by any defect in or omission of such numbers.

 

ARTICLE III.

REDEMPTION

 

Section 3.1.            Notice to Trustee.

 

The Company may, with respect to any Series of
Securities, reserve the right to redeem and pay the Series of Securities
or may covenant to redeem and pay the Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as
provided for in such Securities.  If a Series of
Securities is redeemable and the Company wants or is obligated to redeem prior
to the Stated Maturity thereof all or part of the Series of Securities
pursuant to the terms of such Securities, it shall notify the Trustee of the
redemption date and the principal amount of Series of Securities to be
redeemed.  The Company shall give the
notice at least 45 days before the redemption date (or such shorter notice as
may be acceptable to the Trustee).

 

Section 3.2.            Selection of Securities to be Redeemed or Repurchased.

 

Unless otherwise indicated for a particular Series by
a Board Resolution, a supplemental indenture or an Officers’ Certificate, if
less than all the Securities of a Series are to be redeemed or
repurchased, the Trustee shall select the Securities of the Series to be
redeemed or repurchased on a pro rata
basis unless otherwise required by law or applicable stock exchange
requirements.

 

In the event of partial redemption or purchase by lot,
the Trustee shall make the selection from Securities of the Series outstanding
not previously called for redemption or repurchase.  The Trustee may select for redemption or
repurchase portions of the principal of Securities of the Series that have
denominations larger than $1,000. 
Securities of the Series and portions of them it selects shall be
in amounts of $1,000 or whole multiples of $1,000 or, with respect to
Securities of any Series issuable in other denominations pursuant to Section 2.2.10,
the minimum principal denomination for each Series and integral multiples
thereof.  Provisions of this Indenture
that apply to Securities of a Series called for redemption or repurchase
also apply to portions of Securities of that Series called for redemption
or repurchase.

 

17

 

Section 3.3.            Notice of Redemption.

 

Unless otherwise indicated for a particular Series by
Board Resolution, a supplemental indenture hereto or an Officers’ Certificate,
at least 30 days but not more than 60 days before a redemption date, the
Company shall mail a notice of redemption by first-class mail to each Holder
whose Securities are to be redeemed and if any Bearer Securities are
outstanding, publish on one occasion a notice in an Authorized Newspaper,
except that redemption notices may be mailed more than 60 days prior to a
redemption date if the notice is issued in connection with a defeasance of the
Securities or a satisfaction and discharge of this Indenture pursuant to
Articles 8 or 10 hereof.

 

The notice shall identify the Securities of the Series to
be redeemed and shall state:

 

(a)           the redemption date;

 

(b)           the redemption price;

 

(c)           the name and address of the Paying Agent;

 

(d)           that Securities of the Series called
for redemption must be surrendered to the Paying Agent to collect the
redemption price;

 

(e)           that interest on Securities of the Series called
for redemption ceases to accrue on and after the redemption date;

 

(f)            the CUSIP number, if any; and

 

(g)           any other information as may be required
by the terms of the particular Series or the Securities of a Series being
redeemed.

 

At the Company’s request, the Trustee shall give the
notice of redemption in the Company’s name and at its expense.

 

Section 3.4.            Effect of Notice of Redemption.

 

Once notice of redemption is mailed or published as
provided in Section 3.3, Securities of a Series called for redemption
become due and payable on the redemption date and at the redemption price.  A notice of redemption may not be
conditional.  Upon surrender to the
Paying Agent, such Securities shall be paid at the redemption price plus
accrued interest to the redemption date; provided that installments of
interest whose Stated Maturity is on or prior to the redemption date shall be
payable to the Holders of such Securities (or one or more predecessor
Securities) registered at the close of business on the relevant record date
therefor according to their terms and the terms of this Indenture.

 

Section 3.5.            Deposit of Redemption Price.

 

On or before the redemption date, the Company shall
deposit with the Paying Agent money sufficient to pay the redemption price of
and accrued interest, if any, on all Securities to be redeemed on that date.

 

18

 

Section 3.6.            Securities Redeemed in Part.

 

Upon surrender of a Security that is redeemed in part,
the Trustee shall authenticate for the Holder a new Security of the same Series and
the same maturity equal in principal amount to the unredeemed portion of the
Security surrendered.

 

ARTICLE IV.

COVENANTS

 

Section 4.1.            Payment of Principal and Interest.

 

The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it will pay or cause to be
paid the principal of, premium, if any, and interest on, the Securities of that
Series on the dates and in the manner provided in such Securities.  Principal, premium, if any, and interest on
any Series of Securities will be considered paid on the date due if the
Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
10:00 a.m. Eastern Time on the due date money deposited by the Company in
immediately available funds and designated for and sufficient to pay all
principal, premium, if any, and interest then due.

 

Section 4.2.            Maintenance of Office or Agency.

 

The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it will maintain in the
Borough of Manhattan, the City of New York, an office or agency (which may be
an office of the Trustee for such Securities or an affiliate of such Trustee,
Registrar for such Securities or co-registrar) where such Securities may be
surrendered for registration of transfer or for exchange and where notices and
demands to or upon the Company in respect of such Securities and this Indenture
may be served.  The Company will give
prompt written notice to the Trustee for such Securities of the location, and
any change in the location, of such office or agency.  If at any time the Company fails to maintain
any such required office or agency or fails to furnish such Trustee with the
address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office of such Trustee.

 

The Company may also from time to time designate one
or more other offices or agencies where Holders of a Series of Securities
may be presented or surrendered for any or all such purposes and may from time
to time rescind such designations; provided, however, that no
such designation or rescission will in any manner relieve the Company of its
obligation to maintain an office or agency in the Borough of Manhattan, the
City of New York for such purposes.  The
Company will give prompt written notice to the Trustee for such Series of
Securities of any such designation or rescission and of any change in the
location of any such other office or agency.

 

With respect to each Series of Securities, the
Company hereby designates the Corporate Trust Office of the Trustee for such
Securities as one such office or agency of the Company in accordance with Section 2.5
hereof.

 

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Section 4.3.            SEC Reports.

 

(a)           Whether or not required by the Comission’s
rules and regulations, so long as any Series of Securities are
outstanding, the Company will furnish to the Holders of such Securities or
cause the Trustee with respect to such Series of Securities to furnish to
the Holders of such Securities, within the time periods (including any
extensions thereof) specified in the Commission’s rules and regulations:

 

(1)           all quarterly and annual reports that
would be required to be filed with the Commission on Forms 10-Q and 10-K if the
Company were required to file reports; and

 

(2)           all current reports that would be
required to be filed with the SEC on Form 8-K if the Company were required
to file such reports.

 

All such reports will be prepared in all material
respects in accordance with all of the rules and regulations applicable to
such reports.  Each annual report on Form 10-K
will include a report on the Company’s consolidated financial statements by the
Company’s independent registered public accounting firm.  In addition, the Company will file a copy of
each of the reports referred to in clauses (1) and (2) above with the
Commission for public availability within the time periods specified in the rules and
regulations applicable to such reports (unless the SEC will not accept such a
filing).  To the extent such filings are
made, the reports will be deemed to be furnished to the Trustee and Holders

 

If the Company is no longer subject to the periodic
reporting requirements of the Exchange Act for any reason, the Company will
nevertheless continue filing the reports specified in the preceding paragraph
with the Commission within the time periods specified above unless the
Commission will not accept such a filing. 
The Company will not take any action for the purpose of causing the
Commission not to accept any such filings. 
If, notwithstanding the foregoing, the Commission will not accept the
Company’s filings for any reason, the Company will post the reports referred to
in the preceding paragraph on its website within the time periods that would
apply if the Company were required to file those reports with the Commission.

 

(b)           For so long as any Series of
Securities remain outstanding, if at any time they are not required to file
with the Commission the reports required by paragraphs (a) and (b) of
this Section 4.3, the Company and any guarantors of such Securities will
furnish to the Holders of such Securities and to securities analysts and
prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

Section 4.4.            Compliance Certificate.

 

(a)           The Company and each guarantor of any Series of
Securities (to the extent that such guarantor is so required under the TIA)
shall deliver to the Trustee with respect to such Series, within 90 days after
the end of each fiscal year, an Officers’ Certificate stating that a review of
the activities of the Company and its Subsidiaries during the preceding fiscal
year has been made under the supervision of the signing Officers with a view to
determining whether the Company has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his or her knowledge the Company
has kept, observed, performed and fulfilled each and every covenant 

 

20

 

contained in this
Indenture and is not in default in the performance or observance of any of the
terms, provisions and conditions of this Indenture (or, if a Default or Event
of Default has occurred, describing all such Defaults or Events of Default of
which he or she may have knowledge and what action the Company is taking or
proposes to take with respect thereto) and that to the best of his or her
knowledge no event has occurred and remains in existence by reason of which
payments on account of the principal of or interest, if any, on the Securities
is prohibited or if such event has occurred, a description of the event and what
action the Company is taking or proposes to take with respect thereto.

 

(b)           So long as any of Series of
Securities are outstanding, the Company will deliver to the Trustee with
respect to such Series, forthwith upon any Officer becoming aware of any Default
or Event of Default, an Officers’ Certificate specifying such Default or Event
of Default and what action the Company is taking or proposes to take with
respect thereto.

 

Section 4.5.            Taxes.

 

The Company will pay, and will cause each of its
Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by
appropriate proceedings or where the failure to effect such payment is not
adverse in any material respect to the Holders of such Securities.

 

Section 4.6.            Stay, Extension and Usury Laws.

 

The Company covenants and agrees (to the extent that
it may lawfully do so), that it will not, and each guarantor of such Securities
will not, at any time insist upon, plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay, extension or usury law wherever
enacted, now or at any time hereafter in force, that may affect the covenants
or the performance of this Indenture; and the Company and each of such guarantors
(to the extent that it may lawfully do so), as applicable, hereby expressly
waives all benefit or advantage of any such law, and covenants that it will
not, by resort to any such law, hinder, delay or impede the execution of any
power herein granted to the Trustee for such Securities, but will suffer and
permit the execution of every such power as though no such law has been
enacted.

 

Section 4.7.            Corporate Existence.

 

Subject to Article V hereof, the Company shall do
or cause to be done all things necessary to preserve and keep in full force and
effect:

 

(1)           its corporate existence, and the
corporate, partnership or other existence of each of its Subsidiaries, in
accordance with the respective organizational documents (as the same may be
amended from time to time) of the Company or any such Subsidiary; and

 

(2)           the rights (charter and statutory),
licenses and franchises of the Company and its Subsidiaries

 

provided, however, that the Company shall
not be required to preserve any such right, license or franchise, or the
corporate, partnership or other existence of any of its Subsidiaries, if the
Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of 

 

21

 

the business of the
Company and its Subsidiaries, taken as a whole, and that the loss thereof is
not adverse in any material respect to the Holders of such Securities.

 

ARTICLE V.

SUCCESSORS

 

Section 5.1.            Merger, Consolidation, or Sale of Assets.

 

The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it shall not, directly or
indirectly: (i) consolidate or merge with or into another person (whether
or not the Company is the surviving corporation); or (2) sell, assign,
transfer, convey or otherwise dispose of all or substantially all of the
properties or assets of the Company and its Subsidiaries taken as a whole, in
one or more related transactions, to another person, unless:

 

(1)           either:

 

(A)          the Company is the surviving corporation;
or

 

(B)           the person formed by or surviving any
such consolidation or merger (if other than the Company) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a
corporation, partnership or limited liability company organized or existing
under the laws of the United States, any state of the United States or the
District of Columbia; provided that
if the Person is a partnership or limited liability company, then a corporation
wholly-owned by such Person organized or existing under the laws of the United
States, any state of the United States or the District of Columbia that does
not and will not have any material assets or operations shall become a
co-issuer of the Securities pursuant to a supplemental indenture duly executed
by the Trustee;

 

(2)           the person formed by or surviving any
such consolidation or merger (if other than the Company) or the person to which
such sale, assignment, transfer, conveyance or other disposition has been made
assumes all the obligations of the Company under such Securities and this
Indenture pursuant to agreements reasonably satisfactory to the Trustee for
such Securities; and

 

(3)           immediately after such transaction, no
Default or Event of Default exists.

 

In addition, the Company will not, directly or
indirectly, lease all or substantially all of its properties or assets, in one
or more related transactions, to any other person.  This Section 5.1 will not apply to:

 

(1)           a merger of the Company with an Affiliate
solely for the purpose of reincorporating the Company in another jurisdiction
or forming a direct holding company of the Company; or

 

(2)           any sale, transfer, assignment,
conveyance, lease or other disposition of assets between or among the Company
and its Subsidiaries, including by way of merger or consolidation.

 

22

 

Section 5.2.            Successor Corporation Substituted.

 

Upon any consolidation or merger, or any sale,
assignment, transfer, lease, conveyance or other disposition of all or
substantially all of the properties or assets of the Company in a transaction
that is subject to, and that complies with the provisions of, Section 5.1
hereof, the successor person formed by such consolidation or into or with which
the Company is merged or to which such sale, assignment, transfer, lease,
conveyance or other disposition is made shall succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale,
assignment, transfer, lease, conveyance or other disposition, the provisions of
this Indenture referring to the “Company” shall refer instead to the successor
person and not to the Company), and may exercise every right and power of the
Company under this Indenture with the same effect as if such successor person
had been named as the Company herein; provided, however, that the
predecessor Company shall not be relieved from the obligation to pay the
principal of and interest on any Series of Securities except in the case
of a sale of all of the Company’s assets in a transaction that is subject to,
and that complies with the provisions of, Section 5.1 hereof.

 

ARTICLE VI.

DEFAULTS AND REMEDIES

 

Section 6.1.            Events
of Default.

 

“Event of Default,” wherever used herein with respect
to Securities of any Series, means any one of the following events, unless in
the establishing Board Resolution, supplemental indenture or Officers’
Certificate, it is provided that such Series shall not have the benefit of
said Event of Default:

 

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

 

(b)           default in payment when due of the
principal of, or premium, if any, on any Security of that Series; or

 

(c)           default in the deposit of any sinking
fund payment, when and as due in respect of any Security of that Series; or

 

(d)           default in the performance or breach of
any covenant or warranty of the Company in this Indenture (other than a
covenant or warranty that has been included in this Indenture solely for the
benefit of Series of Securities other than that Series), which default
continues uncured for a period of 30 days after written notice given by the
Trustees for such Securities or Holders of such Securities; or

 

(e)           default under any mortgage, indenture or
instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness for money borrowed by the Company or any of its
Subsidiaries (or the payment of which is guaranteed by the Company or any of
its Subsidiaries) whether such Indebtedness or guarantee now exists, or is
created after the date of the indenture, if that default:

 

23

 

(i)            is caused by a failure to pay principal
of, or interest or premium, if any, on such Indebtedness prior to the
expiration of the grace period provided in such Indebtedness on the date of
such default (a “Payment Default”); or

 

(ii)           results in the acceleration of such
Indebtedness prior to its express maturity,

 

and, in each case,
the principal amount of any such Indebtedness, together with the principal
amount of any other such Indebtedness under which there has been a Payment
Default or the maturity of which has been so accelerated, aggregates $10 million
or more;

 

(f)            one or more judgments for the payment of
money in an aggregate amount in excess of $10 million (excluding therefrom any
amount reasonably expected to be covered by insurance) shall be rendered
against the Company any Restricted Subsidiary or any combination thereof and
the same shall not have been paid, discharged or stayed for a period of 60 days
after such judgment became final and nonappealable;

 

(g)           the Company pursuant to or within the
meaning of any Bankruptcy Law:

 

(i)            commences a voluntary case,

 

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

 

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

 

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

 

(v)           generally is unable to pay its debts as
the same become due; or

 

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

 

(i)            is for relief against the Company in an
involuntary case,

 

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

 

(iii)          orders
the liquidation of the Company, and the order or decree remains unstayed and in
effect for 60 days; or

 

(i)            any other Event of Default provided with
respect to Securities of that Series, which is specified in a Board Resolution,
a supplemental indenture hereto or an Officers’ Certificate, in accordance with
Section 2.2.18.

 

24

 

The term “Bankruptcy Law” means title 11, U.S. Code or
any similar Federal or State law for the relief of debtors.  The term “Custodian” means any receiver,
trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

Section 6.2.            Acceleration.

 

If an Event of Default with respect to Securities of
any Series at the time outstanding occurs and is continuing (other than an
Event of Default referred to in Section 6.1(g) or (h)) then in every
such case the Trustee or the Holders of not less than 25% in principal amount
of the outstanding Securities of that Series may declare the principal
amount (or, if any Securities of that Series are Discount Securities, such
portion of the principal amount as may be specified in the terms of such
Securities) of and accrued and unpaid interest, if any, on all of the
Securities of that Series to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by Holders), and upon
any such declaration such principal amount (or specified amount) and accrued and
unpaid interest, if any, shall become immediately due and payable.  If an Event of Default specified in Section 6.1(g) or
(h) shall occur, the principal amount (or specified amount) of and accrued
and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holder.

 

At any time after such a declaration of acceleration
with respect to any Series has been made, the Holders of a majority in
principal amount of the outstanding Securities of that Series, by written
notice to the Company and the Trustee, may rescind and annul such declaration
and its consequences if the rescission would not conflict with any judgment or
decree and if all existing Events of Default (except nonpayment of principal,
interest or premium that has become due solely because of the acceleration)
have been cured or waived.

 

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

 

Section 6.3.            Other Remedies.

 

If an Event of Default with respect to Securities of
any Series at the time outstanding occurs and is continuing, the Trustee
may pursue any available remedy to collect the payment of principal, premium,
if any, and interest on such Securities or to enforce the performance of any
provision of such Securities or this Indenture.

 

The Trustee for such Securities may maintain a
proceeding even if it does not possess any of such Securities or does not
produce any of them in the proceeding.  A
delay or omission by the Trustee or any Holder of Securities in exercising any
right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default.  All remedies are cumulative to the extent
permitted by law.

 

Section 6.4.            Waiver of Past Defaults.

 

Holders of not less than a majority in aggregate
principal amount of the then outstanding Securities of any Series by
notice to the Trustee for such Securities may on behalf of 

 

25

 

the Holders of all of
such Securities waive an existing Default or Event of Default with respect to
such Securities and its consequences hereunder, except a continuing Default or
Event of Default in the payment of the principal of, premium, if any, or
interest on, such Securities (including in connection with an offer to
purchase); provided, however, that the Holders of a majority in
aggregate principal amount of the then outstanding Securities of any Series may
rescind an acceleration of such Securities and its consequences, including any
related payment default that resulted from such acceleration.  Upon any such waiver, such Default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to
have been cured for every purpose of this Indenture; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent
thereon.

 

Section 6.5.            Control by Majority.

 

Holders of a majority in aggregate principal amount of
the then outstanding Securities of any Series may direct the time, method
and place of conducting any proceeding for exercising any remedy available to
the Trustee for such Securities or exercising any trust or power conferred on it.  However, the Trustee for any Series of
Securities may refuse to follow any direction that conflicts with law or this
Indenture that such Trustee determines may be unduly prejudicial to the rights
of other Holders of such Securities or that may involve the Trustee in personal
liability.

 

Section 6.6.            Limitation on Suits.

 

A Holder of any Series of
Securities may pursue a remedy with respect to this Indenture or such
Securities only if:

 

(1)           such Holder gives to the Trustee for such Securities
written notice that an Event of Default is continuing;

 

(2)           Holders of at least 25% in aggregate principal amount
of the then outstanding Securities of such Series make a written request
to the Trustee for such Securities to pursue the remedy;

 

(3)           such Holder or Holders offer and, if requested,
provide to the Trustee for such Securities security or indemnity reasonably
satisfactory to such Trustee against any loss, liability or expense;

 

(4)           such Trustee does not comply with the request within
60 days after receipt of the request and the offer of security or indemnity;
and

 

(5)           during such 60-day period, Holders of a majority in
aggregate principal amount of the then outstanding Securities of such Series do
not give such Trustee a direction inconsistent with such request.

 

A Holder of any Series of
Securities may not use this Indenture to prejudice the rights of another Holder
of such Series of Securities or to obtain a preference or priority over
another Holder of a Securities of such Series.

 

26

 

 

Section 6.7.            Rights
of Holders of Securities to Receive Payment.

 

Notwithstanding any other provision of this Indenture,
the right of any Holder of a Security of any Series to receive payment of
principal, premium, if any, and interest on such Securities, on or after the
respective due dates expressed in such Securities (including, if applicable, in
connection with an offer to purchase), or to bring suit for the enforcement of
any such payment on or after such respective dates, shall not be impaired or affected
without the consent of such Holder.

 

Section 6.8.            Collection
Suit by Trustee.

 

If an Event of Default specified in Section 6.1(a),
(b) or (c) hereof with respect to Securities of any Series occurs
and is continuing, the Trustee for such Securities is authorized to recover
judgment in its own name and as trustee of an express trust against the Company
for the whole amount of principal of, premium, if any, and interest remaining
unpaid on, such Securities and interest on overdue principal and, to the extent
lawful, interest and such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of such Trustee, its agents and counsel.

 

Section 6.9.            Trustee
May File Proofs of Claim.

 

The Trustee for each Series of Securities is
authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of such Trustee (including
any claim for the reasonable compensation, expenses, disbursements and advances
of such Trustee, its agents and counsel) and the Holders of the Securities for
which it acts as trustee allowed in any judicial proceedings relative to the
Company (or any other obligor upon such Securities), its creditors or its
property and shall be entitled and empowered to collect, receive and distribute
any money or other property payable or deliverable on any such claims and any
custodian in any such judicial proceeding is hereby authorized by each Holder
of such Securities to make such payments to such Trustee, and in the event that
such Trustee shall consent to the making of such payments directly to such
Holders, to pay to such Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of such Trustee, its agents
and counsel, and any other amounts due such Trustee under the Indenture.  To the extent that the payment of any such
compensation, expenses, disbursements and advances of such Trustee, its agents
and counsel, and any other amounts due such Trustee out of the estate in any
such proceeding, shall be denied for any reason, payment of the same shall be
secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that such Holders may be
entitled to receive in such proceeding whether in liquidation or under any plan
of reorganization or arrangement or otherwise. 
Nothing herein contained shall be deemed to authorize such Trustee to
authorize or consent to or accept or adopt on behalf of any Holder for which it
acts as trustee any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of such Holder, or to
authorize such Trustee to vote in respect of the claim of any such Holder in
any such proceeding.

 

27

 

Section 6.10.          Priorities.

 

If the Trustee of any Series of Securities
collects any money pursuant to this Article 6, it shall pay out the money
in the following order:

 

First:       to the
Trustee, its agents and attorneys for amounts due under the Indenture,
including payment of all reasonable compensation, expenses and liabilities
incurred, and all advances made, by the Trustee and the costs and expenses of
collection;

 

Second: to Holders of such Securities for amounts due and
unpaid on such Securities for principal, premium, if any, and interest,
ratably, without preference or priority of any kind, according to the amounts
due and payable on such Securities for principal, premium, if any and interest,
respectively; and

 

Third:     to the
Company or to such party as a court of competent jurisdiction shall direct.

 

The Trustee may fix a record date and payment date for
any payment to Holders of Securities pursuant to this Section 6.10.

 

Section 6.11.          Undertaking
for Costs.

 

In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against any Trustee for any action taken or
omitted by it as a trustee, a court in its discretion may require the filing by
any party litigant in the suit of an undertaking to pay the costs of the suit,
and the court in its discretion may assess reasonable costs, including
reasonable attorneys’ fees, against any party litigant in the suit, having due
regard to the merits and good faith of the claims or defenses made by the party
litigant.  This Section 6.11 does
not apply to a suit by the Trustee, a suit by a Holder of a Security pursuant
to Section 6.7 hereof, or a suit by Holders of more than 10% in aggregate
principal amount of the then outstanding Securities of any Series.

 

ARTICLE VII.

TRUSTEE

 

Section 7.1.            Duties
of Trustee.

 

(a)           If
an Event of Default has occurred and is continuing, the Trustee shall exercise
the rights and powers vested in it by this Indenture and use the same degree of
care and skill in their exercise as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.

 

(b)           Except
during the continuance of an Event of Default:

 

(i)            The
Trustee need perform only those duties that are specifically set forth in this
Indenture and no others.

 

(ii)           In
the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein,
upon Officers’ Certificates or Opinions of Counsel 

 

28

 

furnished to the Trustee and conforming to the requirements of this
Indenture; however, in the case of any such Officers’ Certificates or
Opinions of Counsel which by any provisions hereof are specifically required to
be furnished to the Trustee, the Trustee shall examine such Officers’
Certificates and Opinions of Counsel to determine whether or not they conform
to the requirements of this Indenture.

 

(c)           The
Trustee may not be relieved from liability for its own negligent action, its
own negligent failure to act or its own willful misconduct, except that:

 

(i)            This
paragraph does not limit the effect of paragraph (b) of this Section.

 

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

 

(iii)          The
Trustee shall not be liable with respect to any action taken, suffered or
omitted to be taken by it with respect to Securities of any Series in good
faith in accordance with the direction of the Holders of a majority in
principal amount of the outstanding Securities of such Series relating to
the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to the Securities of such Series.

 

(d)           Every
provision of this Indenture that in any way relates to the Trustee is subject
to paragraph (a), (b) and (c) of this Section.

 

(e)           The
Trustee may refuse to perform any duty or exercise any right or power at the
request or direction of any Holder unless it receives indemnity satisfactory to
it against any loss, liability or expense.

 

(f)            The
Trustee shall not be liable for interest on any money received by it except as
the Trustee may agree in writing with the Company.  Money held in trust by the Trustee need not
be segregated from other funds except to the extent required by law.

 

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

 

(h)           The
Paying Agent, the Registrar and any authenticating agent shall be entitled to
the protections, immunities and standard of care as are set forth in paragraphs
(a), (b) and (c) of this Section with respect to the Trustee.

 

29

 

Section 7.2.            Rights
of Trustee.

 

(a)           The
Trustee may conclusively rely on and shall be fully protected in acting or
refraining from acting upon any document believed by it to be genuine and to
have been signed or presented by the proper person.  The Trustee need not investigate any fact or
matter stated in the document.

 

(b)           Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate.  The Trustee shall not be
liable for any action it takes or omits to take in good faith in reliance on
such Officers’ Certificate.

 

(c)           The
Trustee may act through agents, attorneys, custodians or nominees and shall not
be responsible for the misconduct or negligence of any agent, attorney,
custodian or nominee appointed with due care. 
No Depository shall be deemed an agent, attorney, custodian or nominee
of the Trustee and the Trustee shall not be responsible for any act or omission
by any Depository.

 

(d)           The
Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers, provided
that the Trustee’s conduct does not constitute negligence or bad faith.

 

(e)           The
Trustee may consult with counsel and the advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder without negligence and
in good faith and in reliance thereon.

 

(f)            The
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the
Holders of Securities unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction.

 

(g)           The
Trustee may consult with counsel of its selection and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder
without negligence and in good faith and in reliance thereon.

 

(h)           The
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other
evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit.

 

(i)            The
Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or
unless written notice of any event which is in fact such a default is received
by the Trustee at the Corporate Trust Office of the Trustee, and such notice
references the Securities generally or the Securities of a particular Series and
this Indenture.

 

30

 

(j)            In
no event shall the Trustee be liable for the selection of investments or for
investment losses incurred thereon.  The
Trustee shall have no liability in respect of losses incurred as a result of
the liquidation of any investment prior to its stated maturity or failure to
provide timely written direction.

 

Section 7.3.            Individual
Rights of Trustee.

 

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the
Company or an Affiliate of the Company with the same rights it would have if it
were not Trustee.  Any Agent may do the
same with like rights.  The Trustee is
also subject to Sections 7.10 and 7.11.

 

Section 7.4.            Trustee’s
Disclaimer.

 

The Trustee makes no representation as to the validity
or adequacy of this Indenture or the Securities, it shall not be accountable
for the Company’s use of the proceeds from the Securities, and it shall not be
responsible for any statement in the Securities other than its authentication.

 

Section 7.5.            Notice
of Defaults.

 

If a Default or Event of Default occurs and is
continuing with respect to the Securities of any Series and if it is known
to a Responsible Officer of the Trustee, the Trustee shall mail to each
Securityholder of the Securities of that Series and, if any Bearer
Securities are outstanding, publish on one occasion in an Authorized Newspaper,
notice of a Default or Event of Default within 90 days after it occurs or, if
later, after a Responsible Officer of the Trustee has knowledge of such Default
or Event of Default.  Except in the case
of a Default or Event of Default in payment of principal of or interest on any
Security of any Series, the Trustee may withhold the notice if and so long as
its corporate trust committee or a committee of its Responsible Officers in
good faith determines that withholding the notice is in the interests of
Securityholders of that Series.

 

Section 7.6.            Reports
by Trustee to Holders.

 

Within 60 days after May 15 in each year, the
Trustee shall transmit by mail to all Securityholders, as their names and
addresses appear on the register kept by the Registrar and, if any Bearer Securities
are outstanding, publish in an Authorized Newspaper, a brief report dated as of
such May 15, in accordance with, and to the extent required under, TIA §
313.

 

A copy of each report at the time of its mailing to
Securityholders of any Series shall be filed with the SEC and each stock
exchange on which the Securities of that Series are listed.  The Company shall promptly notify the Trustee
when Securities of any Series are listed on any stock exchange.

 

Section 7.7.            Compensation
and Indemnity.

 

The Company shall pay to the Trustee from time to time
compensation for its services as the Company and the Trustee shall from time to
time agree upon in writing.  The 

 

31

 

Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express
trust.  The Company shall reimburse the
Trustee upon request for all reasonable out-of-pocket expenses incurred by
it.  Such expenses shall include the
reasonable compensation and expenses of the Trustee’s agents and counsel.

 

The Company shall indemnify each of the Trustee and
any predecessor Trustee (including the cost of defending itself) against any
loss, liability or expense, including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee) incurred by it except
as set forth in the next paragraph in the performance of its duties under this
Indenture as Trustee or Agent.  The
Trustee shall notify the Company promptly of any claim for which it may seek
indemnity.  The Company shall defend the
claim and the Trustee shall cooperate in the defense.  The Trustee may have one separate counsel and
the Company shall pay the reasonable fees and expenses of such counsel.  The Company need not pay for any settlement
made without its consent, which consent shall not be unreasonably
withheld.  This indemnification shall
apply to officers, directors, employees, shareholders and agents of the
Trustee.

 

The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or by any
officer, director, employee, shareholder or agent of the Trustee through
negligence or bad faith.

 

To secure the Company’s payment obligations in this
Section, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in
trust to pay principal of and interest on particular Securities of that Series.

 

When the Trustee incurs expenses or renders services
after an Event of Default specified in Section 6.1(g) or (h) occurs,
the expenses and the compensation for the services are intended to constitute
expenses of administration under any Bankruptcy Law.

 

The provisions of this Section shall survive the
termination of this Indenture.

 

Section 7.8.            Replacement
of Trustee.

 

A resignation or removal of the Trustee and
appointment of a successor Trustee shall become effective only upon the
successor Trustee’s acceptance of appointment as provided in this Section.

 

The Trustee may resign with respect to the Securities
of one or more Series by so notifying the Company at least 30 days prior
to the date of the proposed resignation. 
The Holders of a majority in principal amount of the Securities of any Series may
remove the Trustee with respect to that Series by so notifying the Trustee
and the Company.  The Company may remove
the Trustee with respect to Securities of one or more Series if:

 

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

 

(b)           the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

 

32

 

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

 

(d)           the
Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly
appoint a successor Trustee.  Within one
year after the successor Trustee takes office, the Holders of a majority in
principal amount of the then outstanding Securities may appoint a successor
Trustee to replace the successor Trustee appointed by the Company.

 

If a successor Trustee with respect to the Securities
of any one or more Series does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Company or
the Holders of at least 10% in principal amount of the Securities of the
applicable Series may petition any court of competent jurisdiction for the
appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company.  Immediately after that, the retiring Trustee
shall transfer all property held by it as Trustee to the successor Trustee
subject to the lien provided for in Section 7.7, the resignation or
removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee with
respect to each Series of Securities for which it is acting as Trustee
under this Indenture.  A successor
Trustee shall mail a notice of its succession to each Securityholder of each
such Series and, if any Bearer Securities are outstanding, publish such
notice on one occasion in an Authorized Newspaper.  Notwithstanding replacement of the Trustee
pursuant to this Section 7.8, the Company’s obligations under Section 7.7
hereof shall continue for the benefit of the retiring Trustee with respect to
expenses and liabilities incurred by it prior to such replacement.

 

Section 7.9.            Successor
Trustee by Merger, etc.

 

If the Trustee consolidates with, merges or converts
into, or transfers all or substantially all of its corporate trust business to,
another corporation, the successor corporation without any further act shall be
the successor Trustee.

 

Section 7.10.          Eligibility;
Disqualification.

 

This Indenture shall always have a Trustee who
satisfies the requirements of TIA § 310(a)(1), (2) and (5).  The Trustee shall always have a combined
capital and surplus of at least $25,000,000 as set forth in its most recent
published annual report of condition. 
The Trustee shall comply with TIA § 310(b).

 

Section 7.11.          Preferential
Collection of Claims Against Company.

 

The Trustee is subject to TIA §  311(a), excluding any creditor relationship
listed in TIA § 311(b).  A Trustee who
has resigned or been removed shall be subject to TIA § 311(a) to the
extent indicated.

 

33

 

ARTICLE VIII.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.1.            Option
to Effect Legal Defeasance or Covenant Defeasance.

 

The Company may at any time, at the option of its
Board of Directors evidenced by a resolution set forth in an Officers’
Certificate, elect to have either Section 8.2 or 8.3 hereof be applied to
all outstanding Securities of any Series upon compliance with the
conditions set forth below in this Article 8.

 

Section 8.2.            Legal
Defeasance and Discharge.

 

Upon the Company’s exercise under Section 8.1
hereof of the option applicable to this Section 8.2, the Company and each
guarantor, if any, of such Securities will, subject to the satisfaction of the
conditions set forth in Section 8.4 hereof, be deemed to have been
discharged from its or their obligations with respect to all outstanding
Securities of such Series (including the related guarantees, if any) on
the date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”).  For this purpose, Legal
Defeasance means that the Company and such guarantors, if any, will be deemed
to have paid and discharged the entire Indebtedness represented by the
outstanding Securities of such Series (including the related guarantees,
if any), which will thereafter be deemed to be “outstanding” only for the
purposes of Section 8.5 hereof and the other Sections of this Indenture
referred to in clauses (1) and (2) below, and to have satisfied all
its or their other obligations under such Securities, such guarantees, if any,
and this Indenture (and the Trustee for such Securities, on demand of and at
the expense of the Company, shall execute proper instruments acknowledging the
same), except for the following provisions which will survive until otherwise
terminated or discharged hereunder:

 

(1)           the
rights of Holders of outstanding Securities of such Series to receive
payments in respect of the principal of, or interest or premium, if any, on,
such Securities when such payments are due from the trust referred to in Section 8.4
hereof;

 

(2)           the
Company’s obligations with respect to such Securities under Article 2 and Section 4.2
hereof;

 

(3)           the
rights, powers, trusts, duties and immunities of the Trustee for such
Securities hereunder and the Company’s and the guarantors’, if any, obligations
in connection therewith; and

 

(4)           this
Article 8.

 

Subject to compliance with this Article 8, the
Company may exercise its option under this Section 8.2 notwithstanding the
prior exercise of its option under Section 8.3 hereof.

 

Section 8.3.            Covenant
Defeasance.

 

Upon the Company’s exercise under Section 8.1
hereof of the option applicable to this Section 8.3, the Company and each
of the guarantors, if any, will, subject to the satisfaction of the conditions
set forth in Section 8.4 hereof, be released from each of their or its
obligations 

 

34

 

under the covenants
specified in a Board Resolution, a supplemental indenture hereto or an Officers’
Certificate, in accordance with Section 2.2.18, with respect to the
outstanding Securities of the applicable Series on and after the date the
conditions set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant
Defeasance”), and such Securities will thereafter be deemed not “outstanding”
for the purposes of any direction, waiver, consent or declaration or act of
Holders of such Securities (and the consequences of any thereof) in connection
with such covenants, but will continue to be deemed “outstanding” for all other
purposes hereunder (it being understood that such Securities will not be deemed
outstanding for accounting purposes). 
For this purpose, Covenant Defeasance means that, with respect to the
outstanding Securities of such Series, the Company may omit to comply with and
will have no liability in respect of any term, condition or limitation set
forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and
such omission to comply will not constitute a Default or an Event of Default
under Section 6.1 hereof, but, except as specified above, the remainder of
this Indenture and such Securities will be unaffected thereby.  In addition, upon the Company’s exercise
under Section 8.1 hereof of the option applicable to this Section 8.3,
subject to the satisfaction of the conditions set forth in Section 8.4
hereof, Sections 6.1(d) through (f) hereof will not constitute Events
of Default.

 

Section 8.4.            Conditions
to Legal or Covenant Defeasance.

 

In order to exercise either Legal Defeasance or
Covenant Defeasance under either Section 8.2 or 8.3 hereof with respect to
Securities of any Series:

 

(1)           the
Company must irrevocably deposit with the Trustee for such Securities, in
trust, for the benefit of the Holders of such Securities, cash in U.S. dollars,
non-callable Government Securities, or a combination thereof, in such amounts
as will be sufficient, in the opinion of a nationally recognized investment
bank, appraisal firm, or firm of independent public accountants, to pay the
principal of, premium, if any, and interest on, the outstanding Securities of
such Series on the stated date for payment thereof or on the applicable
redemption date, as the case may be, and the Company must specify whether such
Securities are being defeased to such stated date for payment or to a
particular redemption date;

 

(2)           in
the case of an election under Section 8.2 hereof, the Company must deliver
to the Trustee for such Securities an Opinion of Counsel confirming that:

 

(A)          the
Company has received from, or there has been published by, the Internal Revenue
Service a ruling; or

 

(B)           since
the date of this Indenture, there has been a change in the applicable federal
income tax law,

 

in either case to the
effect that, and based thereon such Opinion of Counsel shall confirm that, the
Holders of the outstanding Securities of such Series will not recognize
income, gain or loss for federal income tax purposes as a result of such Legal
Defeasance and will be subject to federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such Legal
Defeasance had not occurred;

 

35

 

(3)           in the case of an election under Section 8.3
hereof, the Company must deliver to the Trustee for such Securities an Opinion
of Counsel confirming that the Holders of such Securities will not recognize
income, gain or loss for federal income tax purposes as a result of such
Covenant Defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case
if such Covenant Defeasance had not occurred;

 

(4)           no Default or Event of Default with
respect to such Securities shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the
borrowing of funds to be applied to such deposit);

 

(5)           such Legal Defeasance or Covenant Defeasance
will not result in a breach or violation of, or constitute a default under, any
material agreement or instrument (other than this Indenture) to which the
Company or any of its Subsidiaries is a party or by which the Company or any of
its Subsidiaries is bound;

 

(6)           the Company must deliver to the Trustee
for such Securities an Officers’ Certificate stating that the deposit was not
made by the Company with the intent of preferring the Holders of such
Securities over the other creditors of the Company with the intent of
defeating, hindering, delaying or defrauding any creditors of the Company or
others; and

 

(7)           the Company must deliver to the Trustee
for such Securities an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance have been complied with.

 

Section 8.5.            Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions.

 

Subject to Section 8.6 hereof, all money and
non-callable Government Securities (including the proceeds thereof) deposited
with a Trustee (or other qualifying trustee, collectively for purposes of this Section 8.5,
the “Trustee”) pursuant to Section 8.4 hereof in respect of the
outstanding Securities of any Series will be held in trust and applied by
the Trustee, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as Paying Agent) as the Trustee may determine, to
the Holders of such Securities of all sums due and to become due thereon in
respect of principal, premium, if any, and interest, but such money need not be
segregated from other funds except to the extent required by law.

 

The Company will pay and indemnify the Trustee against
any tax, fee or other charge imposed on or assessed against the cash or
non-callable Government Securities deposited pursuant to Section 8.4
hereof or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of
the outstanding Securities of the applicable Series.

 

Notwithstanding anything in this Article 8 to the
contrary, the Trustee will deliver or pay to the Company from time to time upon
the request of the Company any money or non-callable Government Securities held
by it as provided in Section 8.4 hereof which, in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written 

 

36

 

certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof),
are in excess of the amount thereof that would then be required to be deposited
to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.6.            Repayment to Company.

 

Any money deposited with the Trustee or any Paying
Agent, or then held by the Company, in trust for the payment of the principal
of, premium, if any, or interest on, any Series of Securities and
remaining unclaimed for two years after such principal, premium, if any, or
interest has become due and payable shall be paid to the Company on its request
or (if then held by the Company) will be discharged from such trust; and the Holders
of such Securities will thereafter be permitted to look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, will thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in the New York
Times and The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which will not be
less than 30 days from the date of such notification or publication, any
unclaimed balance of such money then remaining will be repaid to the Company.

 

Section 8.7.            Reinstatement.

 

If the Trustee or Paying Agent is unable to apply any
U.S. dollars or non-callable Government Securities in accordance with Section 8.2
or 8.3 hereof, as the case may be, by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Company’s and any applicable guarantors’ obligations
under this Indenture and the applicable Securities and the guarantees will be
revived and reinstated as though no deposit had occurred pursuant to Section 8.2
or 8.3 hereof until such time as the Trustee or Paying Agent is permitted to
apply all such money in accordance with Section 8.2 or 8.3 hereof, as the
case may be; provided, however, that, if the Company makes any payment
of principal of, premium, if any, or interest on, any such Securities following
the reinstatement of its obligations, the Company will be subrogated to the
rights of the Holders of such Securities to receive such payment from the money
held by the Trustee or Paying Agent.

 

ARTICLE IX.

AMENDMENTS AND WAIVERS

 

Section 9.1.            Without Consent of Holders.

 

Notwithstanding Section 9.2 of this Indenture,
the Company and the Trustee may amend or supplement this Indenture or the
Securities of one or more Series without the consent of any
Securityholder:

 

(a)           to cure any ambiguity, defect or
inconsistency;

 

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

 

37

 

(c)           to provide for the assumption of the
Company’s obligations to the Holders of the Securities by a successor to the
Company pursuant to Article 5 hereof;

 

(d)           to make any change that would provide any
additional rights or benefits to the Holders of Securities or that does not
adversely affect the legal rights hereunder of any Securityholder;

 

(e)           to comply with requirements of the SEC in
order to effect or maintain the qualification of this Indenture under the TIA

 

(f)            to provide for the issuance of and establish
the form and terms and conditions of Securities of any Series as permitted
by this Indenture; or

 

(g)           to evidence and provide for the
acceptance of appointment hereunder by a successor Trustee with respect to the
Securities of one or more Series and to add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee.

 

Upon the request of the Company accompanied by a
resolution of its Board of Directors authorizing the execution of any such
amended or supplemental indenture, and upon receipt by the Trustee of the
documents described in Section 7.2 hereof, the Trustee will join with the
Company in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate
agreements and stipulations that may be therein contained, but the Trustee will
not be obligated to enter into such amended or supplemental indenture that affects
its own rights, duties or immunities under this Indenture or otherwise.

 

Section 9.2.            With Consent of Holders.

 

The Company and the Trustee may enter into a
supplemental indenture with the written consent of the Holders of at least a
majority in principal amount of the outstanding Securities of each Series affected
by such supplemental indenture (including consents obtained in connection with
a tender offer or exchange offer for the Securities of such Series), for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner the rights of the Securityholders of each such
Series.  Except as provided in Section 6.4,
the Holders of at least a majority in principal amount of the outstanding
Securities of each Series by notice to the Trustee (including consents
obtained in connection with a tender offer or exchange offer for the Securities
of such Series) may waive compliance by the Company with any provision of this
Indenture or the Securities with respect to such Series.

 

It shall not be necessary for the consent of the
Holders of Securities under this Section 9.2 to approve the particular
form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof.  Upon the request of the Company accompanied
by a resolution of its Board of Directors authorizing the execution of any such
amended or supplemental indenture, and upon the filing with the Trustee of
evidence satisfactory to the Trustee of the consent of the Holders of
Securities as aforesaid, and upon receipt by the Trustee of the documents
described in Section 7.2 hereof, the Trustee will join 

 

38

 

with the Company in the
execution of such amended or supplemental indenture unless such amended or
supplemental indenture directly affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion, but will not be obligated to, enter into such amended or
supplemental Indenture.

 

After a supplemental indenture or waiver under this
section becomes effective, the Company shall mail to the Holders of Securities
affected thereby and, if any Bearer Securities affected thereby are
outstanding, publish on one occasion in an Authorized Newspaper, a notice
briefly describing the supplemental indenture or waiver.  Any failure by the Company to mail or publish
such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental indenture or waiver.

 

Section 9.3.            Limitations.

 

Without the consent of each Securityholder affected,
an amendment or waiver may not (with respect to any Securities held by a
non-consenting Holder):

 

(a)           change the amount of Securities whose
Holders must consent to an amendment, supplement or waiver;

 

(b)           reduce the rate of or extend the time for
payment of interest (including default interest) on any Security;

 

(c)           reduce the principal or change the Stated
Maturity of any Security or reduce the amount of, or postpone the date fixed
for, the payment of any sinking fund or analogous obligation;

 

(d)           reduce the principal amount of Discount
Securities payable upon acceleration of the maturity thereof;

 

(e)           waive a Default or Event of Default in
the payment of the principal of or interest, if any, on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders
of at least a majority in principal amount of the outstanding Securities of
such Series and a waiver of the payment default that resulted from such
acceleration);

 

(f)            make the principal of or interest, if
any, on any Security payable in any currency other than that stated in the
Security;

 

(g)           make any change in Sections 6.4, 6.7, 9.3
(this sentence), 11.15, or 11.16; or

 

(h)           waive a redemption payment with respect
to any Security or change any of the provisions with respect to the redemption
of any Securities, except as specifically set forth in the Board Resolution,
supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2.

 

39

 

Section 9.4.            Compliance with Trust Indenture Act.

 

Every amendment to this Indenture or the Securities of
one or more Series shall be set forth in a supplemental indenture hereto
that complies with the TIA as then in effect.

 

Section 9.5.            Revocation and Effect of Consents.

 

Until an amendment or waiver becomes effective, a
consent to it by a Holder of a Security is a continuing consent by the Holder
and every subsequent Holder of a Security or portion of a Security that
evidences the same debt as the consenting Holder’s Security, even if notation
of the consent is not made on any Security. 
However, any such Holder or subsequent Holder may revoke the consent as
to his Security or portion of a Security if the Trustee receives the notice of
revocation before the date the amendment or waiver becomes effective.

 

Any amendment or waiver once effective shall bind
every Securityholder of each Series affected by such amendment or waiver
unless it is of the type described in any of clauses (a) through (h) of
Section 9.3.  In that case, the
amendment or waiver shall bind each Holder of a Security who has consented to
it and every subsequent Holder of a Security or portion of a Security that
evidences the same debt as the consenting Holder’s Security.

 

Section 9.6.            Notation on or Exchange of Securities.

 

The Trustee may place an appropriate notation about an
amendment or waiver on any Security of any Series thereafter
authenticated.  The Company in exchange
for Securities of that Series may issue and the Trustee shall authenticate
upon request new Securities of that Series that reflect the amendment or
waiver.

 

Section 9.7.            Trustee Protected.

 

In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall
be entitled to receive, and (subject to Section 7.1) shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture.  The Trustee shall sign all supplemental
indentures, except that the Trustee need not sign any supplemental indenture
that adversely affects its rights.

 

ARTICLE X.

SATISFACTION AND DISCHARGE

 

Section 10.1.          Satisfaction
and Discharge.

 

This Indenture will be discharged and will cease to be
of further effect as to a Series of Securities issued hereunder, when:

 

(a)           either:

 

(i)    all such Securities that have been
authenticated, except lost, stolen or destroyed Securities that have been
replaced or paid and Securities for whose payment 

 

40

 

money has theretofore been deposited in trust and thereafter repaid to
the Company, have been delivered to the Trustee for cancellation; or

 

(ii)   all such Securities that have not been
delivered to the Trustee for cancellation have become due and payable by reason
of the mailing of a notice of redemption or otherwise or will become due and
payable within one year and the Company has irrevocably deposited or caused to
be deposited with the Trustee as trust funds in trust solely for the benefit of
the Holders of such Securities, cash in U.S. dollars, non-callable Government
Securities, or a combination thereof, in such amounts as will be sufficient,
without consideration of any reinvestment of interest, to pay and discharge the
entire Indebtedness on such Securities not delivered to the Trustee for
cancellation for principal, premium, if any, and accrued interest to the date
of maturity or redemption;

 

(b)           no Default or Event of Default has
occurred and is continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such
deposit) and the deposit will not result in a breach or violation of, or
constitute a default under, any other instrument to which the Company or any
guarantor, as applicable, of such Securities is a party or by which the Company
or any such guarantor, as applicable,  is
bound;

 

(c)           the Company or any guarantor of such
Securities has paid or caused to be paid all sums payable by it under this
Indenture; and

 

(d)           the Company has delivered irrevocable
instructions to the Trustee for such Securities under this Indenture to apply
the deposited money toward the payment of such Securities at maturity or on the
redemption date, as the case may be.

 

In addition, the Company must deliver an Officers’
Certificate and an Opinion of Counsel to the Trustee for such Securities
stating that all conditions precedent to satisfaction and discharge have been
satisfied.

 

Notwithstanding the satisfaction and discharge of this
Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of
this Section 10.1, the provisions of Sections 10.2 and 8.6 hereof will
survive.  In addition, nothing in this Section 10.1
will be deemed to discharge those provisions of Section 7.7 hereof, that,
by their terms, survive the satisfaction and discharge of this Indenture.

 

Section 10.2.          Application
of Trust Money.

 

Subject to the provisions of Section 8.6 hereof,
all money deposited with a Trustee pursuant to Section 10.1 hereof shall
be held in trust and applied by it, in accordance with the provisions of the
Securities with respect to which such deposit was made and this Indenture, to
the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as such Trustee may determine, to the persons
entitled thereto, of the principal (and premium, if any) and interest for whose
payment such money has been deposited with such Trustee; but such money need
not be segregated from other funds except to the extent required by law.

 

41

 

If such Trustee or Paying Agent is unable to apply any
money or Government Securities in accordance with Section 10.1 hereof by reason
of any legal proceeding or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s and any applicable guarantor’s obligations under
this Indenture and the applicable Securities shall be revived and reinstated as
though no deposit had occurred pursuant to Section 10.1 hereof; provided
that if the Company has made any payment of principal of, premium, if any, or
interest on, any Securities because of the reinstatement of its obligations,
the Company shall be subrogated to the rights of the Holders of such Securities
to receive such payment from the money or Government Securities held by the
Trustee or Paying Agent.

 

ARTICLE XI.

MISCELLANEOUS

 

Section 11.1.          Trust
Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies,
or conflicts with another provision which is required or deemed to be included
in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 11.2.          Notices.

 

Any notice or communication by the Company or the
Trustee to the other, or by a Holder to the Company or the Trustee, is duly
given if in writing and delivered in person or mailed by first-class mail:

 

	
   

  	
  if to the Company:

  
	
   

  	
   

  
	
   

  	
  B&G Foods, Inc.

  
	
   

  	
  Four Gatehall Drive, Suite 110

  
	
   

  	
  Parsippany, NJ 07054

  
	
   

  	
  Attention: General Counsel

  
	
   

  	
  Telephone: (973) 401-6500

  
	
   

  	
  Facsimile: (973) 630-6550

  
	
   

  	
   

  
	
   

  	
  if to the Trustee:

  
	
   

  	
   

  
	
   

  	
  [Address]

  
	
   

  	
  Attention: Corporate Trust Administration

  
	
   

  	
  Telephone:

  
	
   

  	
  Facsimile:

  

 

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

 

Any notice or communication to a Securityholder shall
be mailed by first-class mail to his address shown on the register kept by the
Registrar and, if any Bearer Securities are 

 

42

 

outstanding, published in
an Authorized Newspaper.  Failure to mail
a notice or communication to a Securityholder of any Series or any defect
in it shall not affect its sufficiency with respect to other Securityholders of
that or any other Series.

 

If a notice or communication is mailed or published in
the manner provided above, within the time prescribed, it is duly given,
whether or not the Securityholder receives it.

 

If the Company mails a notice or communication to
Securityholders, it shall mail a copy to the Trustee and each Agent at the same
time.

 

Section 11.3.          Communication
by Holders with Other Holders.

 

Securityholders of any Series may communicate
pursuant to TIA § 312(b) with other Securityholders of that Series or
any other Series with respect to their rights under this Indenture or the
Securities of that Series or all Series. 
The Company, the Trustee, the Registrar and anyone else shall have the
protection of TIA § 312(c).

 

Section 11.4.          Certificate
and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company to the
Trustee to take any action under this Indenture, the Company shall furnish to
the Trustee:

 

(a)           an Officers’ Certificate stating that, in
the opinion of the signers, all conditions precedent, if any, provided for in
this Indenture relating to the proposed action have been complied with; and

 

(b)           an Opinion of Counsel stating that, in
the opinion of such counsel, all such conditions precedent have been complied
with.

 

Section 11.5.          Statements
Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance
with a condition or covenant provided for in this Indenture (other than a
certificate provided pursuant to TIA § 314(a)(4)) shall comply with the
provisions of TIA § 314(e) and shall include:

 

(a)           a statement that the person making such
certificate or opinion has read such covenant or condition;

 

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

 

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

 

(d)           a statement as to whether or not, in the
opinion of such person, such condition or covenant has been complied with.

 

43

 

Section 11.6.          Rules by
Trustee and Agents.

 

The Trustee may make reasonable rules for action
by or a meeting of Securityholders of one or more Series.  Any Agent may make reasonable rules and
set reasonable requirements for its functions.

 

Section 11.7.          Legal
Holidays.

 

Unless otherwise provided by Board Resolution,
Officers’ Certificate or supplemental indenture hereto for a particular Series,
a “Legal Holiday” is any day that is not a Business Day.  If a payment date is a Legal Holiday at a
place of payment, payment may be made at that place on the next succeeding day
that is not a Legal Holiday, and no interest shall accrue for the intervening
period.

 

Section 11.8.          No
Recourse Against Others.

 

A director, officer, employee or stockholder, as such,
of the Company shall not have any liability for any obligations of the Company
under the Securities or the Indenture or for any claim based on, in respect of
or by reason of such obligations or their creation.  Each Securityholder by accepting a Security
waives and releases all such liability. 
The waiver and release are part of the consideration for the issue of
the Securities.

 

Section 11.9.          Counterparts.

 

This Indenture 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.

 

Section 11.10.        Governing
Laws.

 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL
GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE SECURITIES AND ANY
GUARANTEES OF THE SECURITIES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

 

Section 11.11.        No
Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the
Company.  Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.

 

Section 11.12.        Successors.

 

All agreements of the Company in this Indenture and
the Securities shall bind its successor. 
All agreements of the Trustee in this Indenture shall bind its
successor.

 

44

 

Section 11.13.        Severability.

 

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

 

Section 11.14.        Table
of Contents, Headings, Etc.

 

The Table of Contents, Cross-Reference Table, and
headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and
shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 11.15.        Securities
in a Foreign Currency or in ECU.

 

Unless otherwise specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate delivered pursuant to
Section 2.2 of this Indenture with respect to a particular Series of
Securities, whenever for purposes of this Indenture any action may be taken by
the Holders of a specified percentage in aggregate principal amount of
Securities of all Series or all Series affected by a particular
action at the time outstanding and, at such time, there are outstanding
Securities of any Series which are denominated in a coin or currency other
than Dollars (including ECUs), then the principal amount of Securities of such Series which
shall be deemed to be outstanding for the purpose of taking such action shall
be that amount of Dollars that could be obtained for such amount at the Market
Exchange Rate at such time.  For purposes
of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar
buying rate in New York City for cable transfers of that currency as published
by the Federal Reserve Bank of New York; provided, however, in
the case of ECUs, Market Exchange Rate shall mean the rate of exchange
determined by the Commission of the European Union (or any successor thereto)
as published in the Official Journal of the European Union (such publication or
any successor publication, the “Journal”). 
If such Market Exchange Rate is not available for any reason with
respect to such currency, the Trustee shall use, in its sole discretion and
without liability on its part, such quotation of the Federal Reserve Bank of
New York or, in the case of ECUs, the rate of exchange as published in the
Journal, as of the most recent available date, or quotations or, in the case of
ECUs, rates of exchange from one or more major banks in The City of New York or
in the country of issue of the currency in question or, in the case of ECUs, in
Luxembourg or such other quotations or, in the case of ECUs, rates of exchange
as the Trustee, upon consultation with the Company, shall deem
appropriate.  The provisions of this
paragraph shall apply in determining the equivalent principal amount in respect
of Securities of a Series denominated in currency other than Dollars in
connection with any action taken by Holders of Securities pursuant to the terms
of this Indenture.

 

All decisions and determinations of the Trustee
regarding the Market Exchange Rate or any alternative determination provided
for in the preceding paragraph shall be in its sole discretion and shall, in
the absence of manifest error, to the extent permitted by law, be conclusive
for all purposes and irrevocably binding upon the Company and all Holders.

 

45

 

 

Section 11.16.        Judgment
Currency.

 

The Company agrees, to the fullest extent that it may
effectively do so under applicable law, that (a) if for the purpose of
obtaining judgment in any court it is necessary to convert the sum due in
respect of the principal of or interest or other amount on the Securities of
any Series (the “Required Currency”) into a currency in which a judgment
will be rendered (the “Judgment Currency”), the rate of exchange used shall be
the rate at which in accordance with normal banking procedures the Trustee
could purchase in The City of New York the Required Currency with the Judgment
Currency on the day on which final unappealable judgment is entered, unless
such day is not a New York Banking Day, then, the rate of exchange used shall
be the rate at which in accordance with normal banking procedures the Trustee
could purchase in The City of New York the Required Currency with the Judgment
Currency on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b) its obligations under this
Indenture to make payments in the Required Currency (i) shall not be
discharged or satisfied by any tender, any recovery pursuant to any judgment
(whether or not entered in accordance with subsection (a)), in any currency
other than the Required Currency, except to the extent that such tender or
recovery shall result in the actual receipt, by the payee, of the full amount
of the Required Currency expressed to be payable in respect of such payments, (ii) shall
be enforceable as an alternative or additional cause of action for the purpose
of recovering in the Required Currency the amount, if any, by which such actual
receipt shall fall short of the full amount of the Required Currency so
expressed to be payable, and (iii) shall not be affected by judgment being
obtained for any other sum due under this Indenture.  For purposes of the foregoing, “New York
Banking Day” means any day except a Saturday, Sunday or a legal holiday in The
City of New York on which banking institutions are authorized or required by
law, regulation or executive order to close.

 

ARTICLE XII.

SINKING FUNDS

 

Section 12.1.          Applicability
of Article.

 

The provisions of this Article shall be
applicable to any sinking fund for the retirement of the Securities of a
Series, except as otherwise permitted or required by any form of Security of
such Series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment
provided for by the terms of the Securities of any Series is herein referred
to as a “mandatory sinking fund payment” and any other amount provided for by
the terms of Securities of such Series is herein referred to as an “optional
sinking fund payment.”  If provided for
by the terms of Securities of any Series, the cash amount of any sinking fund
payment may be subject to reduction as provided in Section 12.2.  Each sinking fund payment shall be applied to
the redemption of Securities of any Series as provided for by the terms of
the Securities of such Series.

 

Section 12.2.          Satisfaction
of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of
any sinking fund payment with respect to the Securities of any Series to
be made pursuant to the terms of such Securities 

 

46

 

(1) deliver
outstanding Securities of such Series to which such sinking fund payment
is applicable (other than any of such Securities previously called for
mandatory sinking fund redemption) and (2) apply as credit Securities of
such Series to which such sinking fund payment is applicable and which
have been repurchased by the Company or redeemed either at the election of the
Company pursuant to the terms of such Series of Securities (except
pursuant to any mandatory sinking fund) or through the application of permitted
optional sinking fund payments or other optional redemptions pursuant to the
terms of such Securities, provided that such Securities have not been
previously so credited.  Such Securities
shall be received by the Trustee, together with an Officers’ Certificate with
respect thereto, not later than 15 days prior to the date on which the Trustee
begins the process of selecting Securities for redemption, and shall be
credited for such purpose by the Trustee at the price specified in such
Securities for redemption through operation of the sinking fund and the amount
of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of
Securities in lieu of cash payments pursuant to this Section 12.2, the
principal amount of Securities of such Series to be redeemed in order to
exhaust the aforesaid cash payment shall be less than $100,000, the Trustee
need not call Securities of such Series for redemption, except upon
receipt of a Company Order that such action be taken, and such cash payment
shall be held by the Trustee or a Paying Agent and applied to the next
succeeding sinking fund payment, provided, however, that the
Trustee or such Paying Agent shall from time to time upon receipt of a Company
Order pay over and deliver to the Company any cash payment so being held by the
Trustee or such Paying Agent upon delivery by the Company to the Trustee of
Securities of that Series purchased by the Company having an unpaid
principal amount equal to the cash payment required to be released to the
Company.

 

Section 12.3.          Redemption
of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated in
the Board Resolution, supplemental indenture or Officers’ Certificate in respect
of a particular Series of Securities) prior to each sinking fund payment
date for any Series of Securities, the Company will deliver to the Trustee
an Officers’ Certificate specifying the amount of the next ensuing mandatory
sinking fund payment for that Series pursuant to the terms of that Series,
the portion thereof, if any, which is to be satisfied by payment of cash and
the portion thereof, if any, which is to be satisfied by delivering and
crediting of Securities of that Series pursuant to Section 12.2, and
the optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and the Company shall thereupon be obligated to pay the
amount therein specified.  Not less than
30 days (unless otherwise indicated in the Board Resolution, Officers’
Certificate or supplemental indenture in respect of a particular Series of
Securities) before each such sinking fund payment date the Trustee shall select
the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 3.2 and cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the manner provided
in Section 3.3.  Such notice having
been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Sections 3.4, 3.5 and 3.6.

 

47

 

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

 

	
   

  	
  B&G
  Foods, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Its:

  
	
   

  	
   

  
	
   

  	
  [Name of
  Trustee]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Its:Maverick Minerals Corp.: Exhibit 10.19 - Filed by newsfilecorp.com

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND
HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY
NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. 

DEBT SETTLEMENT AND SUBSCRIPTION AGREEMENT 

THIS DEBT SETTLEMENT AND SUBSCRIPTION AGREEMENT (the
“Agreement”) made as of the 19th day of July, 2010. 

	BETWEEN: 	
      Maverick Minerals Corporation (the “Company”) a Nevada
      corporation with an address for business at 2501 Lansdowne Ave, Saskatoon,
      Saskatchewan, Canada, S7J 1H3 

	  	
      

	AND: 	
      David Steiner Primary Trust (the “Subscriber”), of c/o
      1875 Century Park East, Suite 2230, Los Angeles, CA 90067
  

WHEREAS:

A.        
       The Company issued to the Subscriber a
Convertible Debenture (the “Debenture”) dated December 11, 2009 in the principal
amount of $35,625, which, together with outstanding interest to July 19, 2010 in
the amount of $1,788.08, totals $37,413.08 (the “Outstanding Amount”); and

B.               
The Subscriber has agreed to accept 49,884 shares of the Company’s common stock
at a deemed price of $0.75 per share (the “Shares”), as payment of the
Outstanding Amount pursuant to the terms and conditions set forth in this
Agreement. 

NOW THEREFORE THIS AGREEMENT witnesses that, for good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows: 

1.               
Interpretation 

1.1             
In this Agreement, words importing the singular number only shall include the
plural and vice versa, words importing gender shall include all genders and
words importing persons shall include individuals, corporations, partnerships,
associations, trusts, unincorporated organizations, governmental bodies and
other legal or business entities of any kind whatsoever. 

1.2             
Any reference to currency is to the currency of the United States of America
unless otherwise indicated. 

2.               
Acknowledgement of Indebtedness 

2.1             
The Company and the Subscriber acknowledge and agree that the Company is
indebted to the Subscriber in the amount of the Outstanding Amount. 

- 2 - 

3.               
Payment of Indebtedness 

3.1             
As full and final payment of the Outstanding Amount, the Company will on the
Closing Date (as defined herein) issue to the Subscriber the Shares, as fully
paid and non-assessable, and the Subscriber will accept the Shares as full and
final payment of the Outstanding Amount. 

4.               
Release 

4.1             
The Subscriber hereby agrees that upon delivery of the Shares by the Company in
accordance with the provisions of this Agreement, the Outstanding Amount under
the Debenture will be fully satisfied and extinguished, and the Subscriber will
remise, release and forever discharge the Company and its respective directors,
officers, affiliates, employees, successors, solicitors, agents and assigns from
any and all obligations relating to the Outstanding Amount and the Debenture.

5.              
 Documents Required from Subscriber 

5.1             
The Subscriber must complete, sign and return to the Company an executed copy of
this Agreement. 

5.2             
The Subscriber must complete, sign and return to the Company’s lawyers an
executed copy of this Subscription Agreement, the Accredited Investor
Questionnaires attached hereto as Schedule A (the
“Questionnaires”) and any other schedules attached hereto or
requested by the Company, acting reasonably.

5.3             
The Subscriber shall complete, sign and return to the Company as soon as
possible, on request by the Company, any documents, notices and undertakings as
may be required by regulatory authorities, stock exchanges and applicable law.

6.              
 Closing 

6.1             
Closing of the offering of the Shares (the “Closing”) shall occur on or before
July 19, 2010, or on such other date as may be determined by the Company (the
“Closing Date”). 

7.              
 Acknowledgements of Subscriber 

7.1             
The Subscriber acknowledges and agrees that: 

	 	(a) 	
      none of the Shares have been or will be registered under
      the Securities Act of 1933 (the “1933 Act”), or under any state securities
      or “blue sky” laws of any state of the United States, and, unless so
      registered, may not be offered or sold in the United States or, directly
      or indirectly, to U.S. Persons, as that term is defined in Regulation S
      under the 1933 Act (“Regulation S”), except pursuant to an effective
      registration statement under the 1933 Act, or pursuant to an exemption
      from, or in a transaction not subject to, the registration requirements of
      the 1933 Act and in each case only in accordance with applicable
      securities laws;

	 	 	 
	 	(b) 	
      the Company has not undertaken, and will have no
      obligation, to register any of the Shares under the 1933 Act or any other
      applicable securities legislation;

	 	 	 
	 	(c) 	
      the Subscriber has received and carefully read this
      Agreement;

	 	 	 
	 	(d) 	
      the decision to execute this Agreement and acquire the
      Shares hereunder has not been based upon any oral or written
      representation as to fact or otherwise made by or
on behalf of the Company and such decision is based entirely
      upon a review of any public information which has been filed by the
      Company with the Securities and Exchange Commission (“SEC”) in compliance,
  or intended compliance, with applicable securities legislation;

- 3 - 

	 	(e) 	
      the Subscriber and the Subscriber’s advisor(s) have had a
      reasonable opportunity to ask questions of and receive answers from the
      Company in connection with the issuance of the Shares hereunder, and to
      obtain additional information, to the extent possessed or obtainable by
      the Company without unreasonable effort or expense;

	 	 	 
	 	(f) 	
      upon the issuance thereof, and until such time as the
      same is no longer required under the applicable securities laws and
      regulations, the certificates representing any of the Shares will bear a
      legend in substantially the following form:

	 	 	 
	 		
      THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE
      SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
      STATE AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
      ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS.

	 	 	 
	 	(g) 	
      the Subscriber has been advised to consult the
      Subscriber’s own legal, tax and other advisors with respect to the merits
      and risks of an investment in the Shares and with respect to applicable
      resale restrictions, and it is solely responsible (and the Company is not
      in any way responsible) for compliance with applicable resale
      restrictions;

	 	 	 
	 	(h) 	
      none of the Shares are listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Subscriber that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system, except that currently
      certain market makers make market in the shares of common stock of the
      Company on the Financial Industry Regulatory Authority’s Over-the-Counter
      Bulletin Board;

	 	 	 
	 	(i) 	
      neither the SEC nor any other securities commission or
      similar regulatory authority has reviewed or passed on the merits of the
      Shares;

	 	 	 
	 	(j) 	
      no documents in connection with the sale of the Shares
      hereunder have been reviewed by the SEC or any state securities
      administrators;

	 	 	 
	 	(k) 	
      there is no government or other insurance covering any of
      the Shares;

	 	 	 
	 	(l) 	
      the issuance and sale of the Shares to the Subscriber
      will not be completed if it would be unlawful or if, in the discretion of
      the Company acting reasonably, it is not in the best interests of the
      Company; and

	 	 	 
	 	(m) 	
      this Agreement is not enforceable by the Subscriber
      unless it has been accepted by the Company.

- 4 - 

8.              
 Representations, Warranties and Covenants of the Subscriber

8.1             
The Subscriber hereby represents and warrants to and covenants with the Company
(which representations, warranties and covenants shall survive the Closing)
that: 

	 	(a) 	
      the Subscriber is a U.S. resident;

	 	 	 
	 	(b) 	
      the Subscriber is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the entire investment;

	 	 	 
	 	(c) 	
      the Subscriber has made an independent examination and
      investigation of an investment in the Shares and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in any way whatsoever for the
      Subscriber’s decision to invest in the Shares and the Company;

	 	 	 
	 	(d) 	
      the Subscriber: (i) has adequate net worth and means of
      providing for its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, (iii) is
      able to fend for itself in the Subscription; (iv) has such knowledge and
      experience in financial and business matters as to be capable of
      evaluating the merits and risks of its investment in the Securities and
      the Company; and (v) has the ability to bear the economic risks of its
      prospective investment and can afford the complete loss of such
      investment;

	 	 	 
	 	(e) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations and agreements contained in this Agreement and agrees that
      if any of such acknowledgements, representations and agreements are no
      longer accurate or have been breached, the Subscriber shall promptly
      notify the Company;

	 	 	 
	 	(f) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription Agreement and to take all actions
      required pursuant hereto and, if the Subscriber is a corporation, it is
      duly incorporated and validly subsisting under the laws of its
      jurisdiction of incorporation and all necessary approvals by its
      directors, shareholders and others have been obtained to authorize
      execution and performance of this Subscription Agreement on behalf of the
      Subscriber;

	 	 	 
	 	(g) 	
      if the Subscriber is a corporation or other entity, the
      entering into of this Subscription Agreement and the transactions
      contemplated hereby do not and will not result in the violation of any of
      the terms and provisions of any law applicable to, or the constating
      documents of, the Subscriber or of any agreement, written or oral, to
      which the Subscriber may be a party or by which the Subscriber is or may
      be bound;

	 	 	 
	 	(h) 	
      the Subscriber is an ‘accredited investor’ in the United
      States, as that term is defined in Rule 501 of Regulation D, promulgated
      by the SEC under the 1933 Act;

	 	 	 
	 	(i) 	
      by completing the Questionnaires, the Subscriber is
      representing and warranting that it is an “accredited investor” as that
      term is defined in Regulation D of the 1933 Act and National Instrument
      45-106 - Prospectus and Registration Exemptions;

	 	 	 
	 	(j) 	
      the Subscriber is acquiring the Securities as principal
      for its own account for investment purposes only and not with a view to,
      or for, resale, distribution or
fractionalisation thereof, in whole or in part, and no other person has a
  direct or indirect beneficial interest in the Securities;

- 5 - 

	 	(k) 	
      the decision to execute this Subscription Agreement and
      purchase the Shares has not been based upon any oral or written
      representation as to fact or otherwise made by or on behalf of the Company
      and such decision is based solely upon the Company’s public filings with
      the SEC.

	 	 	 	 
	 	(l) 	
      the Subscriber has duly executed and delivered this
      Agreement and it constitutes a valid and binding agreement of the
      Subscriber enforceable against the Subscriber in accordance with its
      terms;

	 	 	 	 
	 	(m) 	
      the Subscriber is not an underwriter of, or dealer in,
      the common shares of the Company, nor is the Subscriber participating,
      pursuant to a contractual agreement or otherwise, in the distribution of
      the Shares;

	 	 	 	 
	 	(n) 	
      the Subscriber is not a broker or a dealer in securities,
      nor is the Subscriber affiliated with any securities broker or
    dealer;

	 	 	 	 
	 	(o) 	
      the Subscriber understands and agrees not to engage in
      any hedging transactions involving any of the Shares unless such
      transactions are in compliance with the provisions of the 1933 Act and in
      each case only in accordance with applicable state and provincial
      securities laws;

	 	 	 	 
	 	(p) 	
      the Subscriber understands and agrees that the Company
      will refuse to register any transfer of the Shares not made in accordance
      with the provisions of Regulation S, pursuant to an effective registration
      statement under the 1933 Act or pursuant to an available exemption from
      the registration requirements of the 1933 Act;

	 	 	 	 
	 	(q) 	
      the Subscriber has the requisite knowledge and experience
      in financial and business matters as to be capable of evaluating the
      merits and risks of the investment in the Shares and the
Company;

	 	 	 	 
	 	(r) 	
      the Subscriber is not aware of any advertisement of any
      of the Shares and is not acquiring the Shares as a result of any form of
      general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	 	 	 	 
	 	(s) 	
      no person has made to the Subscriber any written or oral
      representations,

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Shares,

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Shares,
      or

	 	 	 	 
	 		(iv) 	
      that any of the Shares will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Shares of the
      Company on any stock exchange or automated dealer quotation
  system.

- 6 - 

8.2             
In this Agreement, the term “U.S. Person” shall have the meaning ascribed
thereto in Regulation S. 

9.              
 Acknowledgement and Waiver 

9.1             
The Subscriber has acknowledged that the decision to acquire the Shares was
solely made on the basis of publicly available information. The Subscriber
hereby waives, to the fullest extent permitted by law, any rights of withdrawal,
rescission or compensation for damages to which the Subscriber might be entitled
in connection with the distribution of any of the Shares. 

10.             
Representations and Warranties will be Relied Upon by the Company

10.1            The
Subscriber acknowledges that the representations and warranties contained herein
and are made by it with the intention that such representations and warranties
may be relied upon by the Company and its legal counsel in determining the
Subscriber’s eligibility to acquire the Shares under applicable securities
legislation, or (if applicable) the eligibility of others on whose behalf it is
contracting hereunder to acquire the Shares under applicable securities
legislation. The Subscriber further agrees that by accepting delivery of the
certificates representing the Shares on the Closing Date, it will be
representing and warranting that the representations and warranties contained
herein and are true and correct as at the Closing Date with the same force and
effect as if they had been made by the Subscriber on the Closing Date and that
they will survive the purchase by the Subscriber of Shares and will continue in
full force and effect notwithstanding any subsequent disposition by the
Subscriber of such Shares. 

11.             
Resale Restrictions 

11.1           
The Subscriber acknowledges that any resale of the Securities will be subject to
resale restrictions contained in the securities legislation applicable to the
Subscriber or proposed transferee. The Subscriber acknowledges that the Shares
have not been registered under the 1933 Act of the securities laws of any state
of the United States. The Shares may not be offered or sold in the United States
unless registered in accordance with United States federal securities laws and
all applicable state and provincial securities laws or exemptions from such
registration requirements are available. 

11.2            The
Subscriber acknowledges that restrictions on the transfer, sale or other
subsequent disposition of the Shares by the Subscriber may be imposed by
securities laws in addition to any restrictions referred to in Section 11.1
above, and, in particular, the Subscriber acknowledges and agrees that none of
the Shares may be offered or sold to a U.S. Person or for the account or benefit
of a U.S. Person (other than a distributor) prior to the end of the Distribution
Compliance Period. 

12.             
Legending and Registration of Subject Shares 

12.1            The
Subscriber hereby acknowledges that that upon the issuance thereof, and until
such time as the same is no longer required under the applicable securities laws
and regulations, the certificates representing any of the Securities will bear a
legend in substantially the following form: 

THESE SECURITIES HAVE NOT BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS. 

- 7 - 

12.2            The
Subscriber hereby acknowledges and agrees to the Company making a notation on
its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Agreement. The Subscriber acknowledges that the Shares are
subject to resale restrictions in Saskatchewan and may not be traded in
Saskatchewan except as permitted by the Securities Act (Saskatchewan)
(the “Act”) and the rules made thereunder.

12.3           
Pursuant to National Instrument 45-102 – Resale of Securities, as adopted
by the Saskatchewan Financial Services Commission, a subsequent trade in the
Shares will be a distribution subject to the prospectus and registration
requirements of applicable Canadian securities legislation (including the Act)
unless certain conditions are met, which conditions include a hold period (the
“Canadian Hold Period”) that shall have elapsed from the date on which the
Shares were issued to the Subscriber and, during the currency of the Canadian
Hold Period, any certificate representing the Shares is to be imprinted with a
restrictive legend (the “Canadian Legend”). 

12.4           
By executing and delivering this Agreement, the Subscriber will have directed
the Company not to include the Canadian Legend on any certificates representing
the Shares to be issued to the Subscriber. As a consequence, the Subscriber will
not be able to rely on the resale provisions of National Instrument 45-102, and
any subsequent trade in any of the Shares during or after the Canadian Hold
Period will be a distribution subject to the prospectus and registration
requirements of Canadian securities legislation, to the extent that the trade is
at that time subject to any such Canadian securities legislation. 

12.5           
The Subscriber acknowledges and agrees that all costs and expenses incurred by
the Subscriber (including any fees and disbursements of any special counsel
retained by the Subscriber) relating to the purchase of the Shares shall be
borne by the Subscriber. 

13.             
Collection of Personal Information 

13.1           
The Subscriber acknowledges and consents to the fact that the Company is
collecting the Subscriber’s personal information for the purpose of fulfilling
this Agreement and completing this offering. The Subscriber’s personal
information (and, if applicable, the personal information of those on whose
behalf the Subscriber is contracting hereunder) may be disclosed by the Company
to (a) stock exchanges or securities regulatory authorities, (b) the Company’s
registrar and transfer agent, and (c) any of the other parties involved in this
offering, including legal counsel, and may be included in record books in
connection with this offering. By executing this Agreement, the Subscriber is
deemed to be consenting to the foregoing collection, use and disclosure of the
Subscriber’s personal information (and, if applicable, the personal information
of those on whose behalf the Subscriber is contracting hereunder) and to the
retention of such personal information for as long as permitted or required by
law or business practice. Notwithstanding that the Subscriber may be purchasing
Shares as agent on behalf of an undisclosed principal, the Subscriber agrees to
provide, on request, particulars as to the identity of such undisclosed
principal as may be required by the Company in order to comply with the
foregoing. 

14.            
 Costs 

14.1           
The Subscriber acknowledges and agrees that all costs and expenses incurred by
the Subscriber (including any fees and disbursements of any special counsel
retained by the Subscriber) relating to the acquisition of the Shares shall be
borne by the Subscriber. 

- 8 - 

15.            
 Governing Law 

15.1           
This Agreement is governed by the laws of the State of Nevada. 

16.             
Survival 

16.1           
This Agreement, including without limitation the representations, warranties and
covenants contained herein, shall survive and continue in full force and effect
and be binding upon the parties hereto notwithstanding the completion of the
purchase of the Shares by the Subscriber pursuant hereto. 

17.             
Assignment 

17.1            This
Agreement is not transferable or assignable. 

18.            
 Execution 

18.1            The
Company shall be entitled to rely on delivery by facsimile machine of an
executed copy of this Agreement and acceptance by the Company of such facsimile
copy shall be equally effective to create a valid and binding agreement between
the Subscriber and the Company in accordance with the terms hereof. 

19.             
Severability 

19.1            The
invalidity or unenforceability of any particular provision of this Agreement
shall not affect or limit the validity or enforceability of the remaining
provisions of this Agreement. 

20.            
 Entire Agreement 

20.1            Except
as expressly provided in this Agreement and in the agreements, instruments and
other documents contemplated or provided for herein, this Agreement contains the
entire agreement between the parties with respect to the sale of the Shares and
there are no other terms, conditions, representations or warranties, whether
expressed, implied, oral or written, by statute or common law, by the Company or
by anyone else. 

21.            
 Notices 

21.1            All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form of
telecommunication. Notices to the Subscriber shall be directed to the address on
page 11 and notices to the Company shall be directed to the Company’s President
at 2501 Lansdowne Ave, Saskatoon, Saskatchewan, Canada, S7J 1H3. 

- 9 - 

22.            
 Counterparts 

22.1           
This Agreement may be executed in any number of counterparts, each of which,
when so executed and delivered, shall constitute an original and all of which
together shall constitute one instrument. 

IN WITNESS WHEREOF the Subscriber has duly executed this
Agreement as of the date first above mentioned. 

DELIVERY INSTRUCTIONS

	1. 	
      Delivery - please deliver the certificates to:

	 	 
		
      David Steiner – 1875 Century Park East, Suite 2230, Los
      Angeles, CA 90067

	 	 
	 	 
	 	 
	2. 	
      Registration - registration of the certificates which are
      to be delivered at closing should be made as follows:

	 	 
		
      David Steiner 

	 	(name)
	 	 
		
      1875 Century Park East, Suite 2230, Los Angeles, CA 90067
      

	 	(address)
	 	 
	3. 	
      The undersigned hereby acknowledges that it will deliver
      to the Company all such additional completed forms in respect of the
      Subscriber’s purchase of the Shares as may be required for filing with the
      appropriate securities commissions and regulatory
  authorities.

	 	DAVID
      STEINER PRIMARY TRUST 
	 	(Name of Subscriber – Please type or print)
  
	 	 
	 	 
	 	/s/
      David Steiner 
	 	(Signature and, if applicable, Office) 
	 	 
	 	 
	 	1875
      Century Park East, Suite 2230 
	 	(Address of Subscriber) 
	 	 
	 	 
	 	Los
      Angeles, CA 90067 
	 	(City, State or Province, Postal Code of 
	 	Subscriber) 
	 	 
	 	 
	 	USA
  
	 	(Country of Subscriber)

- 10 - 

A C C E P T A N C E 

The above-mentioned Agreement in respect of the Shares is
hereby accepted by MAVERICK MINERALS CORPORATION 

DATED at Saskatoon, the 19th day of July, 2010. 

MAVERICK MINERALS CORPORATION 

 

	Per: 	/s/ Robert Kinloch 	 
	  	Authorized Signatory 	 

SCHEDULE A 

U.S. ACCREDITED INVESTOR QUESTIONNAIRE 

All capitalized terms herein, unless otherwise defined, have
the meanings ascribed thereto in the Subscription Agreement. 

This Questionnaire is for use by each Subscriber who has
indicated an interest in purchasing common shares of Maverick Minerals
Corporation (the “Company”). The purpose of this Questionnaire is to
assure the Company that each Subscriber will meet the standards imposed by the
Securities Act of 1933 (the “1933 Act”) and an appropriate exemption from
applicable state securities laws. The Company will rely on the information
contained in this Questionnaire for the purposes of such determination. This
Questionnaire is not an offer of the shares or any other securities of the
Company in any state other than those specifically authorized by the Company.

All information contained in this Questionnaire will be treated
as confidential. However, by signing and returning this Questionnaire, each
Subscriber agrees that, if necessary, this Questionnaire may be presented to
such parties as the Company deems appropriate to establish the availability,
under the 1933 Act or applicable state securities law, of an exemption from
registration in connection with the sale of shares of the Company. 

The Subscriber covenants, represents and warrants to the
Company that it satisfies one or more of the categories of “Accredited
Investors”, as defined in Rule 501 of Regulation D promulgated under the 1933
Act, as indicated below: (Please initial in the space provide those categories,
if any, of an “Accredited Investor” which the Subscriber satisfies): 

		_____	Category 1 	
      An organization described in Section 501(c)(3) of the
      United States Internal Revenue Code, a corporation, a Massachusetts or
      similar business trust or partnership, not formed for the specific purpose
    of acquiring the Units, with total assets in excess of US $5,000,000;    

	 	 	 	 
		_____	Category 2 	
      A natural person whose individual net worth, or joint net
      worth with that person’s spouse, on the date of purchase exceeds US
      $1,000,000; 

	 	 	  	
      

		_____	Category 3 	
      A natural person who had an individual income in excess
      of US $200,000 in each of the two most recent years or joint income with
      that person’s spouse in excess of US $300,000 in each of those years and
      has a reasonable expectation of reaching the same income level in the
      current year; 

A-1 

		_____	Category 4 	A “bank” as defined under Section (3)(a)(2) of the 1933
      Act or savings and loan association or other institution as defined in
      Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary
      capacity; a broker dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as
      defined in Section 2(13) of the 1933 Act; an investment company registered
      under the Investment Company Act of 1940 (United States) or a
      business development company as defined in Section 2(a)(48) of such Act; a
      Small Business Investment Company licensed by the U.S. Small Business
      Administration under Section 301(c) or (d) of the Small Business
      Investment Act of 1958 (United States); a plan with total assets in
      excess of $5,000,000 established and maintained by a state, a political
      subdivision thereof, or an agency or instrumentality of a state or a
      political subdivision thereof, for the benefit of its employees; an
      employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States) whose
      investment decisions are made by a plan fiduciary, as defined in Section
      3(21) of such Act, which is either a bank, savings and loan association,
      insurance company or registered investment adviser, or if the employee
      benefit plan has total assets in excess of $5,000,000, or, if a self-
      directed plan, whose investment decisions are made solely by persons that
      are accredited investors; 

	 	 	  	
      

		_____	Category 5 	
      A private business development company as defined in
      Section 202(a)(22) of the Investment Advisers Act of 1940 (United
      States); 

	 	 	  	
      

	 	 _____	Category 6 	
  A director or executive officer of the Company;

	 	 	  	
      

		_____	Category 7 	
      A trust with total assets in excess of $5,000,000, not
      formed for the specific purpose of acquiring the Units, whose purchase is
      directed by a sophisticated person as described in Rule 506(b)(2)(ii)
      under the 1933 Act; 

	 	 	  	
      

		_____	Category 8 	
      An entity in which all of the equity owners satisfy the
requirements of one or more of the foregoing categories;

Note that prospective Subscribers claiming to satisfy one of
the above categories of Accredited Investor may be required to supply the
Company with a balance sheet, prior years’ federal income tax returns or other
appropriate documentation to verify and substantiate the Subscriber’s status as
an Accredited Investor. 

If the Subscriber is an entity which initialled Category 8 in
reliance upon the Accredited Investor categories above, state the name, address,
total personal income from all sources for the previous calendar year, and the
net worth (exclusive of home, home furnishings and personal automobiles) for
each equity owner of the said entity:

______________________________________________________________________________

A-2 

The Subscriber hereby certifies that the information contained
in this Questionnaire is complete and accurate and the Subscriber will notify
the Company promptly of any change in any such information. If this
Questionnaire is being completed on behalf of a corporation, partnership, trust
or estate, the person executing on behalf of the Subscriber represents that it
has the authority to execute and deliver this Questionnaire on behalf of such
entity. 

IN WITNESS WHEREOF, the undersigned has executed this
Questionnaire as of the _______day of __________________, 2010. 

	If a Corporation, Partnership or Other Entity: 	 	If an Individual: 
	 	 	 
	  	 	DAVID
      STEINER PRIMARY TRUST 
	Print or Type Name of Entity 	 	Signature 
	 	 	 
	 	 	 
	Signature of Authorized Signatory 	 	Print or Type Name 
	 	 	 
	 	 	 
	Type of Entity 	 	Social Security/Tax I.D. Number 
	 	 	 
	 	 	 
	Contact Number/Telephone 	 	  
	 	 	 
	 	 	 
	Jurisdiction of Incorporation 	 	  

A-3 

CANADIAN ACCREDITED INVESTOR QUESTIONNAIRE

All capitalized terms herein, unless otherwise defined, have
the meanings ascribed thereto in the subscription. 

The purpose of this Questionnaire is to assure Maverick
Minerals Corporation (the “Company”) that the Subscriber will meet
certain requirements of National Instrument 45-106 – Prospectus and
Registration Exemptions (“NI 45-106”). The Company will rely on the
information contained in this Questionnaire for the purposes of such
determination. 

The Subscriber covenants, represents and warrants to the
Company that: 

	 	1. 	
      The Subscriber has such knowledge and experience in
      financial and business matters as to be capable of evaluating the merits
      and risks of the transactions detailed in the subscription and the
      Subscriber is able to bear the economic risk of loss arising from such
      transactions;

	 	 	 
	 	2. 	
      The Subscriber satisfies one or more of the categories of
      “accredited investor” (as that term is defined in NI 45-106) indicated
      below (please check the appropriate box):

		[ ] 	
      (a) an individual registered or formerly registered under
      securities legislation in a jurisdiction of Canada, as a representative of
      a person or Company registered under securities legislation in a
      jurisdiction of Canada, as an adviser or dealer, other than a limited
      market dealer registered under the Securities Act (Ontario) or the
      Securities Act (Newfoundland); 

	 	  	
       

		[ ] 	
      (b) an individual registered or formerly registered under
      the securities legislation of a jurisdiction of Canada as a representative
      of a person referred to in paragraph (a); 

	 	  	
       

		[ ] 	
      (c) an individual who either alone or with a spouse
      beneficially owns, directly or indirectly, financial assets (as defined in
      NI 45-106) having an aggregate realizable value that, before taxes but net
      of any related liabilities, exceeds CDN$1,000,000; 

	 	  	
       

		[ ] 	
      (d) an individual whose net income before taxes exceeded
      CDN$200,000 in each of the two more recent calendar years or whose net
      income before taxes combined with that of a spouse exceeded $300,000 in
      each of those years and who, in either case, reasonably expects to exceed
      that net income level in the current calendar year; 

	 	  	
       

		[ ] 	
      (e) an individual who, either alone or with a spouse, has
      net assets of at least CDN $5,000,000; 

A-4 

	 	[ ] 	
      (f) a person, other than a person or investment fund,
      that had net assets of at least CDN$5,000,000 as reflected on its most
      recently prepared financial statements; and 

	 	  	
      

	 	[ ] 	
      (g) a person in respect of which all of the owners of
      interests, direct, indirect or beneficial, except the voting shares
      required by law are persons or companies that are accredited investors.
      

The Subscriber acknowledges and agrees that the Subscriber may
be required by the Company to provide such additional documentation as may be
reasonably required by the Company and its legal counsel in determining the
Subscriber’s eligibility to acquire the Securities under relevant legislation.

IN WITNESS WHEREOF, the undersigned has executed this
Questionnaire as of the ________day of __________________, 2010. 

	If an Individual: 	 	If a Corporation, Partnership or Other 
	Entity: 	 	  
	 	 	 
	 	 	 
	DAVID STEINER
      PRIMARY TRUST 	 	 
    
	Signature 	 	Print or Type Name of Entity 
	 	 	 
	 	 	 
	  	 	  
	Print or Type Name 	 	Signature of Authorized Signatory 
	 	 	 
	  	 	  
	 	 	 
	  	 	Type of Entity 

A-5

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