Document:

exv4w22

Exhibit 4.22

ENSCO PLC

AND

DEUTSCHE BANK TRUST COMPANY AMERICAS,

TRUSTEE

 

INDENTURE

DATED AS OF

MARCH 17, 2011

SENIOR DEBT SECURITIES

 

 

ENSCO PLC

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939

AND INDENTURE, DATED AS OF MARCH 17, 2011

 

	 	 	 
	Section of	 	 
	Trust Indenture	 	Section(s) of
	ACT of 1939	 	INDENTURE
	§ 310 (a)(1)
	 	609
	(a)(2)
	 	609
	(a)(3)
	 	Not Applicable
	(a)(4)
	 	Not Applicable
	(b)
	 	608, 610
	§ 311 (a)
	 	613
	(b)
	 	613
	§ 312 (a)
	 	701, 702(a)
	(b)
	 	702(b)
	(c)
	 	702(b)
	§ 313 (a)
	 	703(a)
	(b)
	 	703(a)
	(c)
	 	703(a)
	(d)
	 	703(b)
	§ 314 (a)
	 	704, 1005
	(b)
	 	Not Applicable
	(c)(1)
	 	103
	(c)(2)
	 	103
	(c)(3)
	 	Not Applicable
	(d)
	 	Not Applicable
	(e)
	 	103
	§ 315 (a)
	 	601(a)
	(b)
	 	602
	(c)
	 	601(b)
	(d)
	 	601(c)
	(d)(1)
	 	601(c)(1)
	(d)(2)
	 	601(c)(2)
	(d)(3)
	 	601(c)(3)
	(e)
	 	511
	§ 316 (a)(1)(A)
	 	505
	(a)(1)(B)
	 	502, 504
	(a)(2)
	 	Not Applicable
	(a)(last sentence)
	 	101
	(b)
	 	507
	(c)
	 	105
	§ 317 (a)(1)
	 	508
	(a)(2)
	 	509
	(b)
	 	1003
	§ 318 (a)
	 	108

 

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

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE ONE

	 
	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS
OF GENERAL APPLICATION

	 
	 	 	 	 
	SECTION 101. DEFINITIONS
	 	 	1	 
	Act
	 	 	1	 
	Additional Amounts
	 	 	1	 
	Affiliate
	 	 	2	 
	Authenticating Agent
	 	 	2	 
	Authorized Newspaper
	 	 	2	 
	Board of Directors
	 	 	2	 
	Board Resolution
	 	 	2	 
	Book-Entry Security
	 	 	2	 
	Business Day
	 	 	2	 
	Capital Stock
	 	 	2	 
	Capitalized Lease Obligation
	 	 	2	 
	Commission
	 	 	2	 
	Company
	 	 	3	 
	Company Request
	 	 	3	 
	Conversion Event
	 	 	3	 
	Corporate Trust Office
	 	 	3	 
	Default
	 	 	3	 
	Defaulted Interest
	 	 	3	 
	Depositary
	 	 	3	 
	Dollar
	 	 	3	 
	Event of Default
	 	 	3	 
	Exchange Rate
	 	 	3	 
	Hedging Obligations
	 	 	3	 
	Holder
	 	 	3	 
	Indebtedness
	 	 	3	 
	Indenture
	 	 	4	 
	interest
	 	 	4	 
	Interest Payment Date
	 	 	4	 
	Lien
	 	 	4	 
	Maturity
	 	 	4	 
	Officers’ Certificate
	 	 	4	 
	Opinion of Counsel
	 	 	5	 
	Original Issue Discount Security
	 	 	5	 
	Outstanding
	 	 	5	 
	Paying Agent
	 	 	5	 
	Person
	 	 	5	 
	Place of Payment
	 	 	5	 
	Predecessor Security
	 	 	6	 
	Redemption Date
	 	 	6	 
	Redemption Price
	 	 	6	 
	Registered Security
	 	 	6	 
	Regular Record Date
	 	 	6	 
	Responsible Officer
	 	 	6	 
	Securities
	 	 	6	 
	Security Register
	 	 	6	 

-i- 

 

	 	 	 	 	 
	 	 	Page
	Special Record Date
	 	 	6	 
	Stated Maturity
	 	 	6	 
	Subsidiary
	 	 	6	 
	Trust Indenture Act
	 	 	6	 
	Trustee
	 	 	6	 
	United States
	 	 	7	 
	United States Alien
	 	 	7	 
	U.S. Government Obligations
	 	 	7	 
	Vice President
	 	 	7	 
	Wholly-Owned Subsidiary
	 	 	7	 
	Yield to Maturity
	 	 	7	 
	SECTION 102. INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT
	 	 	7	 
	SECTION 103. COMPLIANCE CERTIFICATES AND OPINIONS
	 	 	7	 
	SECTION 104. FORM OF DOCUMENTS DELIVERED TO TRUSTEE
	 	 	8	 
	SECTION 105. ACTS OF HOLDERS; RECORD DATES
	 	 	8	 
	SECTION 106. NOTICES, ETC., TO TRUSTEE AND COMPANY
	 	 	9	 
	SECTION 107. NOTICE TO HOLDERS; WAIVER
	 	 	9	 
	SECTION 108. CONFLICT WITH TRUST INDENTURE ACT
	 	 	10	 
	SECTION 109. EFFECT OF HEADINGS AND TABLE OF CONTENTS
	 	 	10	 
	SECTION 110. SUCCESSORS AND ASSIGNS
	 	 	10	 
	SECTION 111. SEPARABILITY CLAUSE
	 	 	10	 
	SECTION 112. BENEFITS OF INDENTURE
	 	 	10	 
	SECTION 113. GOVERNING LAW
	 	 	10	 
	SECTION 114. LEGAL HOLIDAYS
	 	 	10	 
	SECTION 115. CORPORATE OBLIGATION
	 	 	11	 
	 
	 	 	 	 
	ARTICLE TWO

	 
	 	 	 	 
	SECURITY FORMS

	 
	 	 	 	 
	SECTION 201. FORMS GENERALLY
	 	 	11	 
	SECTION 202. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	 	 	11	 
	SECTION 203. SECURITIES IN GLOBAL FORM
	 	 	11	 
	SECTION 204. BOOK-ENTRY SECURITIES
	 	 	12	 
	 
	 	 	 	 
	ARTICLE THREE

	 
	 	 	 	 
	THE SECURITIES

	 
	 	 	 	 
	SECTION 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES
	 	 	14	 
	SECTION 302. DENOMINATIONS
	 	 	16	 
	SECTION 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING
	 	 	16	 
	SECTION 304. TEMPORARY SECURITIES
	 	 	17	 
	SECTION 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE
	 	 	17	 
	SECTION 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES
	 	 	19	 
	SECTION 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED
	 	 	19	 
	SECTION 308. PERSONS DEEMED OWNERS
	 	 	20	 
	SECTION 309. CANCELLATION
	 	 	20	 
	SECTION 310. COMPUTATION OF INTEREST
	 	 	20	 
	SECTION 311. CUSIP NUMBERS
	 	 	20	 

-ii- 

 

	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE FOUR

	 
	 	 	 	 
	SATISFACTION AND DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE

	 
	 	 	 	 
	SECTION 401. SATISFACTION AND DISCHARGE OF INDENTURE
	 	 	21	 
	SECTION 402. OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT DEFEASANCE
	 	 	22	 
	SECTION 403. LEGAL DEFEASANCE AND DISCHARGE
	 	 	22	 
	SECTION 404. COVENANT DEFEASANCE
	 	 	22	 
	SECTION 405. CONDITIONS TO LEGAL OR COVENANT DEFEASANCE
	 	 	23	 
	SECTION 406. DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN
TRUST; OTHER MISCELLANEOUS PROVISIONS
	 	 	24	 
	SECTION 407. REPAYMENT TO COMPANY
	 	 	24	 
	SECTION 408. REINSTATEMENT
	 	 	24	 
	 
	 	 	 	 
	ARTICLE FIVE

	 
	 	 	 	 
	REMEDIES

	 
	 	 	 	 
	SECTION 501. EVENTS OF DEFAULT
	 	 	25	 
	SECTION 502. ACCELERATION
	 	 	26	 
	SECTION 503. OTHER REMEDIES
	 	 	27	 
	SECTION 504. WAIVER OF PAST DEFAULTS
	 	 	27	 
	SECTION 505. CONTROL BY MAJORITY
	 	 	27	 
	SECTION 506. LIMITATION ON SUITS
	 	 	27	 
	SECTION 507. RIGHTS OF HOLDERS OF SECURITIES TO RECEIVE PAYMENT
	 	 	28	 
	SECTION 508. COLLECTION SUIT BY TRUSTEE
	 	 	28	 
	SECTION 509. TRUSTEE MAY FILE PROOFS OF CLAIM
	 	 	28	 
	SECTION 510. PRIORITIES
	 	 	28	 
	SECTION 511. UNDERTAKING FOR COSTS
	 	 	29	 
	 
	 	 	 	 
	ARTICLE SIX

	 
	 	 	 	 
	THE TRUSTEE

	 
	 	 	 	 
	SECTION 601. CERTAIN DUTIES AND RESPONSIBILITIES
	 	 	29	 
	SECTION 602. NOTICE OF DEFAULTS
	 	 	30	 
	SECTION 603. CERTAIN RIGHTS OF TRUSTEE
	 	 	30	 
	SECTION 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES
	 	 	31	 
	SECTION 605. MAY HOLD SECURITIES
	 	 	31	 
	SECTION 606. MONEY HELD IN TRUST
	 	 	31	 
	SECTION 607. COMPENSATION AND REIMBURSEMENT
	 	 	31	 
	SECTION 608. DISQUALIFICATION; CONFLICTING INTERESTS
	 	 	32	 
	SECTION 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY
	 	 	32	 
	SECTION 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR
	 	 	32	 
	SECTION 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	 	 	33	 
	SECTION 612. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.
	 	 	34	 
	SECTION 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY
	 	 	34	 
	SECTION 614. APPOINTMENT OF AUTHENTICATING AGENT
	 	 	34	 

-iii- 

 

	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE SEVEN

	 
	 	 	 	 
	HOLDER’S LISTS AND REPORTS BY TRUSTEE AND COMPANY

	 
	 	 	 	 
	SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.
	 	 	36	 
	SECTION 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS
	 	 	36	 
	SECTION 703. REPORTS BY TRUSTEE
	 	 	36	 
	SECTION 704. REPORTS BY COMPANY
	 	 	37	 
	 
	 	 	 	 
	ARTICLE EIGHT

	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

	 
	 	 	 	 
	SECTION 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	 	 	37	 
	SECTION 802. SUCCESSOR PERSON SUBSTITUTED
	 	 	37	 
	 
	 	 	 	 
	ARTICLE NINE

	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	SECTION 901. WITHOUT CONSENT OF HOLDERS
	 	 	38	 
	SECTION 902. WITH CONSENT OF HOLDERS
	 	 	39	 
	SECTION 903. COMPLIANCE WITH TRUST INDENTURE ACT
	 	 	40	 
	SECTION 904. REVOCATION AND EFFECT OF CONSENTS
	 	 	40	 
	SECTION 905. NOTATION ON OR EXCHANGE OF SECURITIES
	 	 	40	 
	SECTION 906. TRUSTEE TO SIGN AMENDMENTS, ETC
	 	 	40	 
	 
	 	 	 	 
	ARTICLE TEN

	 
	 	 	 	 
	COVENANTS

	 
	 	 	 	 
	SECTION 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST
	 	 	40	 
	SECTION 1002. MAINTENANCE OF OFFICE OR AGENCY
	 	 	41	 
	SECTION 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST
	 	 	41	 
	SECTION 1004. EXISTENCE
	 	 	42	 
	SECTION 1005. STATEMENT BY OFFICERS AS TO DEFAULT
	 	 	42	 
	SECTION 1006. WAIVER OF CERTAIN COVENANTS
	 	 	42	 
	SECTION 1007. ADDITIONAL AMOUNTS
	 	 	42	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	 
	 	 	 	 
	REDEMPTION OF SECURITIES

	 
	 	 	 	 
	SECTION 1101. APPLICABILITY OF ARTICLE
	 	 	43	 
	SECTION 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE
	 	 	43	 
	SECTION 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED
	 	 	43	 
	SECTION 1104. NOTICE OF REDEMPTION
	 	 	44	 
	SECTION 1105. DEPOSIT OF REDEMPTION PRICE
	 	 	44	 
	SECTION 1106. SECURITIES PAYABLE ON REDEMPTION DATE
	 	 	44	 
	SECTION 1107. SECURITIES REDEEMED IN PART
	 	 	45	 
	SECTION 1108. PURCHASE OF SECURITIES
	 	 	45	 

-iv- 

 

	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE TWELVE

	 
	 	 	 	 
	SINKING FUNDS

	 
	 	 	 	 
	SECTION 1201. APPLICABILITY OF ARTICLE
	 	 	45	 
	SECTION 1202. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES
	 	 	45	 
	SECTION 1203. REDEMPTION OF SECURITIES FOR SINKING FUND
	 	 	46	 
	 
	 	 	 	 
	ARTICLE THIRTEEN

	 
	 	 	 	 
	MEETINGS OF HOLDERS OF SECURITIES

	 
	 	 	 	 
	SECTION 1301. PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	 	 	46	 
	SECTION 1302. CALL, NOTICE AND PLACE OF MEETINGS
	 	 	46	 
	SECTION 1303. PERSONS ENTITLED TO VOTE AT MEETINGS
	 	 	46	 
	SECTION 1304. QUORUM; ACTION
	 	 	46	 
	SECTION 1305. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT
OF MEETINGS
	 	 	47	 
	SECTION 1306. COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	 	 	47	 

-v- 

 

INDENTURE

     THIS Indenture, dated as of March 17, 2011 between ENSCO PLC, a public limited company
organized under the laws of England and Wales (herein called the “Company”), having its principal
office at 6 Chesterfield Gardens, London W1J 5BQ, England, and DEUTSCHE BANK TRUST COMPANY
AMERICAS, a New York banking corporation, as Trustee (herein called the “Trustee”), the office of
the Trustee at which at the date hereof its corporate trust business is principally administered
being 60 Wall Street, MSNYC 60-2710, New York, NY 10005.

RECITALS OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as in this
Indenture provided.

     This Indenture is subject to the provisions of the Trust Indenture Act and the rules and
regulations of the Commission promulgated thereunder that are required to be part of this Indenture
and, to the extent applicable, shall be governed by such provisions.

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

SECTION 101. DEFINITIONS.

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

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

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

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

     Certain terms, used principally in Article VI, are defined in Section 102.

     “Act,” when used with respect to any Holder, has the meaning specified in Section 105.

     “Additional Amounts” means any additional amounts that are required by the express terms of a
Security or by or pursuant to a Board Resolution, under circumstances specified therein or pursuant
thereto, to be paid by the

 

 

Company with respect to certain taxes, assessments or other governmental charges imposed on
certain Holders and that 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 the
purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

     “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee pursuant to Section 614 to authenticate Securities of one or more series.

     “Authorized Newspaper” means a newspaper, in the English language or in an official language
of the country of publication, customarily published on each Business Day, whether or not published
on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which
the term is used or in the financial community of such place. Where successive publications are
required to be made in Authorized Newspapers, the successive publications may be made in the same
or in different newspapers in the same city meeting the foregoing requirements and in each case on
any Business Day.

     “Board of Directors” means either the board of directors of the Company or any duly authorized
committee of that board.

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

     “Book-Entry Security” has the meaning specified in Section 204.

     “Business Day,” when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday that is not a day on which banking institutions in that Place of
Payment or the city in which the Corporate Trust Office is located are authorized or obligated by
law or executive order to close.

     “Capital Stock,” means:

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

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

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

     (iv) 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.

     “Capitalized Lease Obligation” means, at the time any determination thereof 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.

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, as amended, or, if at any time after the
execution of this instrument such Commission is not existing and performing the duties now assigned
to it under the Trust Indenture Act, then the body performing such duties at such time.

-2-

 

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

     “Company Request” and “Company Order” mean, respectively, a written request or order signed in
the name of the Company by its Chairman of the Board, its President or a Vice President, and by its
Treasurer, an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or an
Assistant Secretary, and delivered to the Trustee.

     “Conversion Event” has the meaning specified in Section 501.

     “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business shall be principally administered, which office at the date hereof is that
indicated in the introductory paragraph of this Indenture.

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

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

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

     “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United
States as at the time shall be legal tender for the payment of public and private debts.

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

     “Exchange Rate” has the meaning specified in Section 302.

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

     (1) interest rate swap agreements, interest rate cap agreements and interest rate
collar agreements and other agreements or arrangements designed to protect such Person
against fluctuations in interest rates;

     (2) any foreign exchange contract, currency swap agreement or other similar agreement
or arrangement designed to protect such Person against fluctuations in currency values; and

     (3) any commodity futures or option contract or other similar commodity hedging
contract designed to protect such person against fluctuations in commodity prices.

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

     “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent, in respect of:

     (1) borrowed money;

-3-

 

     (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit
(or reimbursement agreements in respect thereof) (other than obligations with respect to
letters of credit securing obligations (other than obligations described in clause (1),
(2) and (4) of this definition) entered into in the ordinary course of business of such
Person to the extent that such letters of credit are not drawn upon);

     (3) banker’s acceptances;

     (4) any Capitalized Lease Obligations;

     (5) the balance deferred and unpaid of the purchase price of any property, except any
such balance that constitutes an accrued expense or trade payable incurred in the ordinary
course of business; or

     (6) any Hedging Obligations,

if and to the extent any of the preceding items (other than letters of credit 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.

     The amount of any Indebtedness outstanding as of any date shall be:

     (1) the accreted value thereof, in the case of any Indebtedness issued with original
issue discount; and

     (2) the principal amount thereof, together with any interest thereon that is more than
30 days past due, in the case of any other Indebtedness.

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

     “interest,” when used with respect to an Original Issue Discount Security that by its terms
bears interest only after Maturity, means interest payable after Maturity.

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

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

     “Maturity,” when used with respect to any Security, means the date on which the principal of
such Security or an 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 or otherwise.

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President
or a Vice President, and by the Treasurer, the Controller, the Secretary or an Assistant Treasurer,
Assistant Controller or Assistant Secretary, of the Company, and delivered to the Trustee, which
certificate shall be in compliance with Section 103 hereof.

-4-

 

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee
of the Company, rendered, if applicable, in accordance with Section 314(c) of the Trust Indenture
Act, which opinion shall be in compliance with Section 103 hereof.

     “Original Issue Discount Security” means any Security that provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.

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

     (i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

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

     (iii) Securities that have been paid pursuant to Section 306 or in exchange for or in
lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona
fide purchaser in whose hands such Securities are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder, or whether a quorum is present at a meeting of Holders of Securities, (a) the
principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for
such purposes shall be the principal amount thereof that would be due and payable as of the date of
such determination upon acceleration of the Maturity thereof pursuant to Section 502, (b) the
principal amount of a Security denominated in a foreign currency shall be the U.S. Dollar
equivalent, determined by the Company on the date of original issuance of such Security, of the
principal amount (or, in the case of an Original Issue Discount Security, the U.S. Dollar
equivalent, determined on the date of original issuance of such Security, of the amount determined
as provided in (a) above), of such Security and (c) Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent or
waiver or upon any such determination as to the presence of a quorum, only Securities which the
Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged
in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not
the Company or any other obligor upon the Securities or any Affiliate of the Company or of such
other obligor.

     “Paying Agent” means any Person, which may include the Company, authorized by the Company to
pay the principal of (and premium, if any) or interest on any one or more series of Securities on
behalf of the Company.

     “Person” means any individual, corporation, partnership, limited liability company, joint
venture, incorporated or unincorporated association, joint stock company, trust, unincorporated
organization or government or other agency or political subdivision thereof or other entity of any
kind.

     “Place of Payment” when used with respect to the Securities of any series, means the place or
places where the principal of (and premium, if any) and interest on the Securities of that series
are payable as specified in accordance with Section 301 subject to the provisions of Section 1002.

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

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

     “Redemption Price” when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

     “Registered Security” means any Security in the form established pursuant to Section 201 which
is registered in the Security Register.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the Registered
Securities of any series means the date specified for that purpose as contemplated by Section 301,
or, if not so specified, the last day of the calendar month preceding such Interest Payment Date if
such Interest Payment Date is the fifteenth day of the calendar month or the fifteenth day of the
calendar month preceding such Interest Payment Date if such Interest Payment Date is the first day
of a calendar month, whether or not such day shall be a Business Day.

     “Responsible Officer” when used with respect to the Trustee, means any officer of the Trustee
with direct responsibility for the administration of the Indenture and also means, with respect to
a particular corporate trust matter, any other officer to whom such matter is referred because of
his knowledge of and familiarity with the particular subject.

     “Securities” has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture.

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

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

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

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

     (i) 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) to vote in the election of directors, managers or trustees thereof is at
the time owned or controlled, directly or indirectly, by such Person or one or more of the
other Subsidiaries of that Person (or a combination thereof); and

     (ii) 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 partners of
which are such Person or one or more Subsidiaries of such Person (or any combination
thereof).

     “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of
which this instrument was executed, except as provided in Section 903.

     “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 or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such

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Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee
with respect to Securities of that series.

     “United States” means the United States of America (including the States and the District of
Columbia) and its “possessions,” which include Puerto Rico, the U.S. Virgin Islands, Guam, American
Samoa, Wake Island and the Northern Mariana Islands.

     “United States Alien” means any Person who, for United States federal income tax purposes, is
a foreign corporation, a nonresident alien individual, a nonresident alien or foreign fiduciary of
an estate or trust, or a foreign partnership.

     “U.S. Government Obligations” means direct noncallable obligations of, or noncallable
obligations the payment of principal of and interest on which is guaranteed by, the United States
of America, or to the payment of which obligations or guarantees the full faith and credit of the
United States of America is pledged, or beneficial interests in a trust the corpus of which
consists exclusively of money or such obligations or a combination thereof.

     “Vice President” when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title
“vice president.”

     “Wholly-Owned Subsidiary” of any specified Person means a Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying
shares and shares issued to other Persons to comply with local law that collectively do not
constitute more than 5% of all of the Capital Stock ordinarily having the power to vote for the
election of directors of such Subsidiary) shall at the time be owned by such Person or by one or
more Wholly Owned Subsidiaries of such Person and one or more Wholly Owned Subsidiaries of such
Person.

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

SECTION 102. INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT.

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

     “Bankruptcy Act” means the Bankruptcy Act or Title 11 of the United States Code, as amended.

     “indenture securities” means the Securities.

     “indenture securityholder” means a Holder.

     “indenture to be qualified” means this Indenture.

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

     “obligor” on the indenture securities means the Company or any other obligor on the
Securities.

     All terms used in this Indenture that are defined by the Trust Indenture Act, defined by Trust
Indenture Act reference to another statute or defined by Commission rule under the Trust Indenture
Act and not otherwise defined herein have the meanings assigned to them therein.

SECTION 103. COMPLIANCE CERTIFICATES AND OPINIONS.

     Except as otherwise expressly provided by this Indenture, upon any application or request by
the Company to the Trustee to take any action under any provision of this Indenture, the Company
shall furnish to the Trustee an

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Officers’ Certificate stating that all conditions precedent, if any (including any covenants
the compliance with which constitutes a condition precedent), provided for in this Indenture
relating to the proposed action have been complied with and an Opinion of Counsel stating that in
the opinion of such counsel all such conditions precedent, if any (including any covenants the
compliance with which constitutes a condition precedent), have been complied with, except that in
the case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include

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

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

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

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

SECTION 104. FORM OF DOCUMENTS DELIVERED TO TRUSTEE.

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

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

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

SECTION 105. ACTS OF HOLDERS; RECORD DATES.

     (1) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Company. Such instrument or instruments and any such
record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as
the “Act” of the Holders signing such instrument or instruments and so voting at any such meeting.
Proof of execution of any such instrument or of a writing appointing any such agent, or the holding
of any Person

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of a Security, shall be sufficient for any purpose of this Indenture and (subject to
Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the manner
provided in Section 1306.

     The Company may set in advance a record date for purposes of determining the identity of
Holders of Registered Securities entitled to vote or consent to any action by vote or consent
authorized or permitted under this Indenture. If not set by the Company prior to the first
solicitation of a Holder of Registered Securities of such series made by any Person in respect of
any such action, or in the case of any such vote, prior to such vote, the record date for any such
action or vote shall be the later of 30 days prior to such first solicitation of such consent or
the date of the most recent list of Holders furnished to the Trustee prior to such solicitation.
If a record date is fixed, those Persons who were Holders of Outstanding Registered Securities at
such record date (or their duly designated proxies), and only those Persons, shall be entitled with
respect to such Securities to take such action by vote or consent or to revoke any vote or consent
previously given, whether or not such Persons continue to be Holders after such record date.
Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense,
shall cause notice thereof to be given to the Trustee in writing in the manner provided in
Section 106 and to the relevant Holders as set forth in Section 107.

     (2) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a notary public or
other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or
affidavit shall also constitute sufficient proof of his authority. The fact and date of the
execution of any such instrument or writing, or the authority of the Person executing the same, may
also be proved in any other manner which the Trustee deems sufficient.

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

     (4) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security. Any Holder
or subsequent Holder may revoke the request, demand, authorization, direction, notice, consent or
other Act as to his Security or portion of his Security; provided, however, that such revocation
shall be effective only if the Trustee receives the notice of revocation before the date the Act
becomes effective.

SECTION 106. NOTICES, ETC., TO TRUSTEE AND COMPANY.

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

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its
Corporate Trust Office, Attention: Corporate Trust Department, or

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this Indenture or at any other address previously
furnished in writing to the Trustee by the Company, Attention: Corporate Secretary.

SECTION 107. NOTICE TO HOLDERS; WAIVER.

     Where this Indenture provides for notice to Holders of Securities of any event, such notice
shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to

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each Holder affected by such event, at the address of such Holder as it appears in the
Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice.

     In case by reason of the suspension of regular mail service, or by reason of any other cause
it shall be impracticable to give such notice to Holders of Registered Securities by mail, then
such notification as shall be made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder. In any case in which notice to Holders of Registered
Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice
so mailed, to any particular Holder of a Registered Security, shall affect the sufficiency of such
notice with respect to other Holders of Registered Securities.

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

SECTION 108. CONFLICT WITH TRUST INDENTURE ACT.

     If any provision hereof limits, qualifies or conflicts with any provision of the Trust
Indenture Act or another provision hereof required to be included in this Indenture by any of the
provisions of the Trust Indenture Act, such provision of the Trust Indenture Act shall control. If
any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that
may be so modified or excluded, the former provision shall be deemed to apply to this Indenture as
so modified or to be excluded.

SECTION 109. EFFECT OF HEADINGS AND TABLE OF CONTENTS.

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

SECTION 110. SUCCESSORS AND ASSIGNS.

     All covenants and agreements in this Indenture by the Company shall bind its successors and
assigns, whether or not so expressed.

SECTION 111. SEPARABILITY CLAUSE.

     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 112. BENEFITS OF INDENTURE.

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

SECTION 113. GOVERNING LAW.

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York, but without giving effect to applicable principles of conflicts of
law to the extent the application of the laws of another jurisdiction would be required thereby.

SECTION 114. LEGAL HOLIDAYS.

     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities) payment of principal and interest (and premium
and Additional Amounts, if any) need not be made at

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such Place of Payment on such date, but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity, provided that no interest shall accrue for the period
from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be.

SECTION 115. CORPORATE OBLIGATION.

     No recourse may be taken, directly or indirectly, against any incorporator, subscriber to the
capital stock, stockholder, officer, director or employee of the Company or the Trustee or of any
predecessor or successor of the Company or the Trustee with respect to the Company’s obligations on
the Securities or the obligations of the Company or the Trustee under this Indenture or any
certificate or other writing delivered in connection herewith.

ARTICLE TWO

SECURITY FORMS

SECTION 201. FORMS GENERALLY.

     The Securities of each series shall be Registered Securities and shall be in substantially
such form or forms (including temporary or permanent global form) as shall be established by or
pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with
such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture and may have such letters, numbers or other marks of identification and
such legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. If temporary Securities of any
series are issued in global form as permitted by Section 304, the form thereof shall be established
as provided in the preceding sentence. A copy of the Board Resolution establishing the form or
forms of Securities of any series (or any such temporary global Security) shall be delivered to the
Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the
authentication and delivery of such Securities (or any such temporary global Security).

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

SECTION 202. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION.

     The Trustee’s certificate of authentication shall be in substantially the following form:

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

	 	 	 	 	 	 	 

	 

	 	By:	 	 	 	 
	 

	 	 	 	 

AUTHORIZED OFFICER.”
	 	 

SECTION 203. SECURITIES IN GLOBAL FORM.

     If Securities of a series are issuable in global form, as contemplated by Section 301, then,
notwithstanding clause (10) of Section 301 and the provisions of Section 302, any such Security
shall represent such of the Outstanding Securities of such series as shall be specified therein and
may provide that it shall represent the aggregate amount of Outstanding Securities from time to
time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby
may from time to time be reduced to reflect exchanges. Any endorsement of a Security in global
form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities
represented thereby shall be made by the Trustee in such manner and upon instructions given by such
Person or Persons as shall be specified in such Security or in a Company Order to be delivered to
the Trustee pursuant to Section 303 or Section 304. Subject to the provisions of Section 303 and,
if applicable, Section 304, the Trustee shall

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deliver
and redeliver any Security in permanent global form in the manner and upon instructions given
by the Person or Persons specified in such Security or in the applicable Company Order. If a
Company Order pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any
instructions by the Company with respect to endorsement or delivery or redelivery of a Security in
global form shall be in writing but need not comply with Section 103 and need not be accompanied by
an Opinion of Counsel.

     The provisions of the last sentence of Section 303 shall apply to any Security in global form
if such Security was never issued and sold by the Company and the Company delivers to the Trustee
the Security in global form together with written instructions (which need not comply with
Section 103 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in
the principal amount of Securities represented thereby, together with the written statement
contemplated by the last sentence of Section 303.

     Notwithstanding the provisions of Sections 201 and 307, unless otherwise specified as
contemplated by Section 301, payment of principal of (and premium, if any) and interest on any
Security in permanent global form shall be made to the Person or Persons specified therein.

     Notwithstanding the provisions of Section 308 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company or of the Trustee shall treat a
Person as the Holder of such principal amount of Outstanding Securities represented by a global
Security as shall be specified in a written statement, if any, of the Holder of such global
Security, which is produced to the Security Registrar by such Holder.

     Global Securities may be issued in either temporary or permanent form. Permanent global
Securities will be issued in definitive form.

SECTION 204. BOOK-ENTRY SECURITIES.

     Notwithstanding any provision of this Indenture to the contrary:

     (a) At the discretion of the Company, any Registered Security may be issued from time
to time, in whole or in part, in permanent global form registered in the name of a
Depositary, or its nominee. Each such Registered Security in permanent global form is
hereafter referred to as a “Book-Entry Security.” Subject to Section 303, upon such
election, the Company shall execute, and the Trustee or an Authenticating Agent shall
authenticate and deliver, one or more Book-Entry Securities that (i) are denominated in an
amount equal to the aggregate principal amount of the Outstanding Securities of such series
if elected in whole or such lesser amount if elected in part, (ii) are registered in the
name of the Depositary or its nominee, (iii) are delivered by the Trustee or an
Authenticating Agent to the Depositary or pursuant to the Depositary’s instructions and
(iv) bear a legend in substantially the following form (or such other form as the Depositary
and the Company may agree upon):

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF [THE
DEPOSITARY], TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
[NOMINEE OF THE DEPOSITARY] OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF [THE DEPOSITARY] (AND ANY PAYMENT IS MADE TO
[NOMINEE OF THE DEPOSITARY] OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF [THE DEPOSITARY]), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, [NOMINEE OF THE DEPOSITARY], HAS AN
INTEREST HEREIN.

     (b) Any Book-Entry Security shall be initially executed and delivered as provided in
Section 303. Notwithstanding any other provision of this Indenture, unless and until it is
exchanged in whole or in part for Registered Securities not issued in global form, a
Book-Entry Security may not be transferred

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except as a whole by the Depositary to a nominee of such Depositary, by a nominee of
such Depositary to such Depositary or another nominee of such Depositary, or by such
Depositary or any such nominee to a successor Depositary or a nominee of such successor
Depositary.

     (c) If at any time the Depositary notifies the Company or the Trustee that it is
unwilling or unable to continue as Depositary for any Book-Entry Securities, the Company
shall appoint a successor Depositary, whereupon the retiring Depositary shall surrender or
cause the surrender of its Book-Entry Security or Securities to the Trustee. The Trustee
shall promptly notify the Company upon receipt of such notice. If a successor Depositary
has not been so appointed by the effective date of the resignation of the Depositary, the
Book-Entry Securities will be issued as Registered Securities not issued in global form, in
an aggregate principal amount equal to the principal amount of the Book-Entry Security or
Securities theretofore held by the Depositary.

     The Company may at any time and in its sole discretion determine that the Securities
shall no longer be Book-Entry Securities represented by a global certificate or
certificates, and will so notify the Depositary. Upon receipt of such notice, the
Depositary shall promptly surrender or cause the surrender of its Book-Entry Security or
Securities to the Trustee. Concurrently therewith, Registered Securities not issued in
global form will be issued in an aggregate principal amount equal to the principal amount of
the Book-Entry Security or Securities theretofore held by the Depositary.

     Upon any exchange of Book-Entry Securities for Registered Securities not issued in
global form as set forth in this Section 204(c), such Book-Entry Securities shall be
cancelled by the Trustee, and Securities issued in exchange for such Book-Entry Securities
pursuant to this Section shall be registered in such names and in such authorized
denominations as the Depositary for such Book-Entry Securities, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the Trustee. The
Trustee or any Authenticating Agent shall deliver such Securities to the Persons in whose
names such Securities are so registered.

     (d) The Company and the Trustee shall be entitled to treat the Person in whose name any
Book-Entry Security is registered as the Holder thereof for all purposes of the Indenture
and any applicable laws, notwithstanding any notice to the contrary received by the Trustee
or the Company; and the Trustee and the Company shall have no responsibility for
transmitting payments to, communication with, notifying, or otherwise dealing with any
beneficial owners of any Book-Entry Security. Neither the Company nor the Trustee shall
have any responsibility or obligations, legal or otherwise, to the beneficial owners or to
any other party including the Depositary, except for the Holder of any Book-Entry Security;
provided, however, notwithstanding anything herein to the contrary, (i) for the purposes of
determining whether the requisite principal amount of Outstanding Securities have given,
made or taken any request, demand, authorization, direction, notice, consent, waiver,
instruction or other action hereunder as of any date, the Trustee shall treat any Person
specified in a written statement of the Depositary with respect to any Book-Entry Securities
as the Holder of the principal amount of such Securities set forth therein and (ii) nothing
herein shall prevent the Company, the Trustee, or any agent of the Company or Trustee, from
giving effect to any written certification, proxy or other authorization furnished by a
Depositary with respect to any Book-Entry Securities, or impair, as between a Depositary and
holders of beneficial interests in such Securities, the operation of customary practices
governing the exercise of the rights of the Depositary as Holder of such Securities.

     (e) So long as any Book-Entry Security is registered in the name of a Depositary or its
nominee, all payments of the principal of (and premium, if any) and interest on such
Book-Entry Security and redemption thereof and all notices with respect to such Book-Entry
Security shall be made and given, respectively, in the manner provided in the arrangements
of the Company with such Depositary.

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ARTICLE THREE

THE SECURITIES

SECTION 301. AMOUNT UNLIMITED; 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. There shall be established in or pursuant
to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more
indentures supplemental hereto, prior to the issuance of Securities of any series:

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

     (2) any limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration or transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 304, 305, 306, 905 or 1107);

     (3) whether Securities of the series are to be issuable as Registered Securities,
whether any Securities of the series are to be issuable initially in temporary global form
and whether any Securities of the series are to be issuable in permanent global form, as
Book-Entry Securities or otherwise, and, if so, whether beneficial owners of interests in
any such permanent global Security may exchange such interests for Securities of such series
and of like tenor of any authorized form and denomination and the circumstances under which
any such exchanges may occur, if other than in the manner provided in Section 305, and the
Depositary for any global Security or Securities;

     (4) the manner in which any interest payable on a temporary global Security on any
Interest Payment Date will be paid if other than in the manner provided in Section 304;

     (5) the date or dates on which the principal of (and premium, if any, on) the
Securities of the series is payable or the method of determination thereof;

     (6) the rate or rates, or the method of determination thereof, at which the Securities
of the series shall bear interest, if any, whether and under what circumstances Additional
Amounts with respect to such Securities shall be payable, the date or dates from which such
interest shall accrue, the Interest Payment Dates on which such interest shall be payable
and, if other than as set forth in Section 101, the Regular Record Date for the interest
payable on any Registered Securities on any Interest Payment Date;

     (7) if other than the Corporate Trust Office of the Trustee, the place or places where,
subject to the provisions of Section 1002, the principal of (and premium, if any), any
interest on and any Additional Amounts with respect to the Securities of the series shall be
payable;

     (8) the period or periods within which, the price or prices (whether denominated in
cash, securities or otherwise) at which and the terms and conditions upon which Securities
of the series may be redeemed, in whole or in part, at the option of the Company, if the
Company is to have that option, and the manner in which the Company must exercise any such
option;

     (9) the obligation, if any, of the Company to redeem or purchase 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 (whether denominated in
cash, securities or otherwise) 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;

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     (10) the denomination in which any Registered Securities of that series shall be
issuable, if other than denominations of $2,000 and any integral multiple of $1,000 in
excess thereof;

     (11) the currency or currencies (including composite currencies) in which payment of
the principal of (and premium, if any), any interest on and any Additional Amounts with
respect to the Securities of the series shall be payable if other than the currency of the
United States of America;

     (12) if the principal of (and premium, if any) or interest on the Securities of the
series are to be payable, at the election of the Company or a Holder thereof, in a currency
or currencies (including composite currencies) other than that in which the Securities are
stated to be payable, the currency or currencies (including composite currencies) in which
payment of the principal of (and premium, if any) and interest on and any Additional Amounts
with respect to Securities of such series as to which such election is made shall be
payable, and the periods within which and the terms and conditions upon which such election
is to be made;

     (13) if the amount of payments of principal of (and premium, if any), any interest on
and any Additional Amounts with respect to the Securities of the series may be determined
with reference to any commodities, currencies or indices, or values, rates or prices, the
manner in which such amounts shall be determined;

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

     (15) any additional means of satisfaction and discharge of this Indenture with respect
to Securities of the series pursuant to Section 401, any additional conditions to discharge
pursuant to Section 401, 402, 403, 404, or 405, and the application, if any, of Section 403
and 404;

     (16) any deletions or modifications of or additions to the Events of Default set forth
in Section 501, the right of the Trustee or the requisite Holders of such Securities to
declare the principal amount thereof due and payable pursuant to Section 502, or the
covenants of the Company set forth in Article X pertaining to the Securities of the series;

     (17) the terms, if any, on which the Securities of any series may be converted into or
exchanged for stock or other securities of the Company or other entities, any specific terms
relating to the adjustment thereof and the period during which such Securities may be so
converted or exchanged;

     (18) whether the Securities of a series will be issued as part of units consisting of
Securities and other securities of the Company or another issuer;

     (19) whether the Securities of the series shall be subordinate to any other series of
Securities, and if so, the provisions for subordination thereof; and

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

     All Securities of any one series shall be substantially identical except, in the case of
Registered Securities, as to denomination and except as may otherwise be provided in or pursuant to
the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the
manner provided, in the Officers’ Certificate referred to above or in any such indenture
supplemental hereto.

     All Securities of any one series need not be issued at the same time and, unless otherwise
provided in such Board Resolution or supplemental indenture, a series may be reopened for issuances
of additional Securities of such series pursuant to a Board Resolution or in any indenture
supplemental hereto.

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     At the option of the Company, interest on the Registered Securities of any series that bears
interest may be paid by mailing a check to the address of any Holder as such address shall appear
in the Security Register.

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

SECTION 302. DENOMINATIONS.

     The Securities of each series shall be issuable in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such provisions with respect to the Securities
of any series, the Registered Securities of such series denominated in Dollars shall be issuable in
denominations of $2,000 and any integral multiple of $1,000 in excess thereof. Unless otherwise
provided as contemplated by Section 301 with respect to any series of Securities, any Securities of
a series denominated in a currency other than Dollars shall be issuable in denominations that are
the equivalent, as determined by the Company by reference to the noon buying rate in The City of
New York for cable transfers for such currency (“Exchange Rate”), as such rate is reported or
otherwise made available by the Federal Reserve Bank of New York, on the applicable issue date for
such Securities, of $2,000 and any integral multiple of $1,000 in excess thereof.

SECTION 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

     The Securities shall be executed on behalf of the Company by its Chairman of the Board, its
President, its Treasurer or one of its Vice Presidents, under its corporate seal reproduced thereon
or affixed thereto attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile. Coupons shall bear the
facsimile signature of the Chairman of the Board, President, Treasurer or any Vice President of the
Company.

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

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver
such Securities as in this Indenture provided and not otherwise.

     If the form or terms of the Securities of the series have been established in or pursuant to
one or more Board Resolutions or Officer’s Certificate as permitted by Sections 201 and 301, in
authenticating such Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustee shall be entitled to receive (in addition to the other
documents required by Section 103 hereof), and (subject to Section 601) shall be fully protected in
relying upon, an Opinion of Counsel stating,

     (a) if the form of such Securities has been established by or pursuant to Board
Resolution as permitted by Section 201, that such form has been established in conformity
with the provisions of this Indenture;

     (b) if the terms of such Securities have been established by or pursuant to Board
Resolution as permitted by Section 301, that such terms have been established in conformity
with the provisions of this Indenture; and

     (c) that such Securities, when authenticated and delivered by the Trustee and issued by
the Company in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute legal, valid and binding obligations of the Company, enforceable in
accordance with their terms, except as

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such enforcement is subject to the effect of bankruptcy, insolvency, fraudulent
conveyance, reorganization or other laws relating to or affecting creditors’ rights, and
general principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law); provided that such Opinion of Counsel need express no
opinion as to whether a court in the United States would render a money judgment in currency
other than that of the United States.

     If such form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner not reasonably acceptable to the Trustee.

     Each Registered Security shall be dated the date of its authentication.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that such Security has been
duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall
have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 309
together with a written statement (which need not comply with Section 103 and need not be
accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by
the Company, for all purposes of this Indenture such Security shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

SECTION 304. TEMPORARY SECURITIES.

     Pending the preparation of definitive Securities of any series, the Company may execute, and
upon Company Order the Trustee shall authenticate and deliver, temporary Securities that are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are
issued, in registered form and with such appropriate insertions, omissions, substitutions and other
variations as the officers of the Company executing such Securities may determine, as evidenced by
their execution of such Securities.

     Except in the case of temporary Securities in global form (which shall be exchanged in
accordance with the provisions of the following paragraphs), if temporary Securities of any series
are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive Securities of such series upon
surrender of the temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of
any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of definitive Securities of
the same series of authorized denominations. Until so exchanged, the temporary Securities of any
series shall in all respects be entitled to the same benefits under this Indenture as definitive
Securities of such series.

     All Outstanding temporary Securities of any series shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities of the same series and of like tenor
authenticated and delivered hereunder.

SECTION 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.

     The Company shall cause to be kept for each series of Securities at one of the offices or
agencies maintained pursuant to Section 1002 a register (the register maintained in such office and
in any other office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Registered
Securities and of transfers of Registered Securities of such series. The Trustee is hereby
initially appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities as herein provided.

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

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

     Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301,
any permanent global Security shall be exchangeable only as provided in this paragraph. If the
beneficial owners of interests in a permanent global Security are entitled to exchange such
interest for Securities of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section 301, then without unnecessary delay
but in any event not later than the earliest date on which such interests may be so exchanged, the
Company shall deliver to the Trustee definitive Securities of that series in an aggregate principal
amount equal to the principal amount of such permanent global Security, executed by the Company.
On or after the earliest date on which such interests may be so exchanged, such permanent global
Security shall be surrendered from time to time in accordance with instructions given to the
Trustee and the Depositary (which instructions shall be in writing but need not comply with
Section 103 or be accompanied by an Opinion of Counsel) or such other depositary as shall be
specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such
purpose, to be exchanged, in whole or in part, for definitive Securities of the same series without
charge and the Trustee shall authenticate and deliver, in exchange for each portion of such
permanent global Security, a like aggregate principal amount of other definitive Securities of the
same series of authorized denominations and of like tenor as the portion of such permanent global
Security to be exchanged; provided, however, that no such exchanges may occur during a period
beginning at the opening of business 15 days before any selection of Securities of that series is
to be redeemed and ending on the relevant Redemption Date. Promptly following any such exchange in
part, such permanent global Security marked to evidence the partial exchange shall be returned by
the Trustee to the Depositary or such other depositary referred to above in accordance with the
instructions of the Company referred to above. If a Registered Security is issued in exchange for
any portion of a permanent global Security after the close of business at the office or agency
where such exchange occurs on (i) any Regular Record Date and before the opening of business at
such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and
before the opening of business at such office or agency on the related proposed date for payment of
Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in respect of such
Registered Security, but will be payable on such Interest Payment Date or proposed date for
payment, as the case may be, only to the Person to whom interest in respect of such portion of such
permanent global Security is payable in accordance with the provisions of this Indenture.

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

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

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchange pursuant to Section 304, 905 or 1107 not involving any transfer.

     The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption

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of Securities of such series selected for redemption and ending at the close of business on
the day of the mailing of the relevant notice of redemption or (ii) to register the transfer of or
exchange any Registered Security so selected for redemption in whole or in part, except the
unredeemed portion of any Security being redeemed in part.

SECTION 306. 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 deliver 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 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
deliver, 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 fee 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 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

     Interest on any Registered Security which is payable, and is punctually paid or duly provided
for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one
or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest. Unless otherwise provided with respect to the Securities of any series, payment
of interest may be made at the option of the Company by check mailed or delivered to the address of
any Person entitled thereto as such address shall appear in the Security Register.

     Any interest on any Registered Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each Registered Security of such series and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as

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in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the
payment of such Defaulted Interest which shall be not more than 15 days and not less than 10
days prior to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the
Company of such Special Record Date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered
Securities of such series at his address as it appears in the Security Register, not less
than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the
name and at the expense of the Company, cause a similar notice to be published at least once
in an Authorized Newspaper, but such publication shall not be a condition precedent to the
establishment of such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest
shall be paid to the Persons in whose names the Registered Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on such
Special Record Date and shall no longer be payable pursuant to the following clause (2).

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

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

SECTION 308. PERSONS DEEMED OWNERS.

     Prior to due presentment of a Registered Security for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such
Registered Security is registered as the owner of such Registered Security for the purpose of
receiving payment of principal of (and premium, if any) and (subject to Sections 305 and 307)
interest on such Registered Security and for all other purposes whatsoever, whether or not such
Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the
Trustee shall be affected by notice to the contrary.

SECTION 309. CANCELLATION.

     All Securities surrendered for payment, redemption, registration of transfer or exchange or
for credit against any sinking fund payment shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee. All Registered Securities so delivered shall be promptly
cancelled by the Trustee. The Company may at any time deliver to the Trustee for cancellation any
Securities previously authenticated and delivered hereunder which the Company may have acquired in
any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee.
No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All cancelled
Securities held by the Trustee shall be disposed of as directed by a Company Order; provided that
the Trustee shall not be required to destroy such Securities.

SECTION 310. COMPUTATION OF INTEREST.

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

SECTION 311. 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

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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 identification numbers printed on the Securities, and any such redemption
shall not be affected by any defect in or omission of such numbers.

ARTICLE FOUR

SATISFACTION AND DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE

SECTION 401. SATISFACTION AND DISCHARGE OF INDENTURE.

     This Indenture shall upon Company Request cease to be of further effect with respect to
Securities of any series (except as to any surviving rights of registration of transfer, exchange
or replacement of such series of Securities herein expressly provided for), and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture with respect to such Securities, when

     (1) either

     (A) all such Securities of such series theretofore authenticated and delivered
(other than (i) such Securities which have been destroyed, lost or stolen and which
have been replaced or paid as provided in Section 306 and (ii) such Securities of
such series for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 1003) have been delivered to the
Trustee for cancellation; or

     (B) all such Securities of such series not theretofore delivered to the Trustee
for cancellation

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within one
year, or

     (iii) are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company,

and the Company, in the case of (B)(i), (ii) or (iii) above, has deposited or caused
to be deposited with the Trustee, as funds in trust for such purpose, an amount in
the currency or currencies or currency unit or units in which such Securities of
such series are payable or U.S. Government Obligations maturing as to principal and
interest in such amounts and at such times as will, together with any interest
thereon (but without consideration of the reinvestment of such interest), be
sufficient to pay and discharge the entire indebtedness on such Securities of such
series not theretofore delivered to the Trustee for cancellation, for principal and
any premium and interest to the date of such deposit (in the case of Securities
which have become due and payable) or to the Stated Maturity or Redemption Date, as
the case may be;

     (2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; and

     (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to such series of Securities have
been complied with.

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     Notwithstanding the satisfaction and discharge of this Indenture with respect to the
Outstanding Securities of such series pursuant to this Section 401, the obligations of the Company
to the Trustee under Section 607 and to any Authenticating Agent under Section 614 and, if money or
U.S. Government Obligations shall have been deposited with the Trustee pursuant to subclause (B) of
Clause (1) of this Section, the obligations of the Trustee under Section 406, Article VI and the
last paragraph of Section 1003 shall survive.

SECTION 402. OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT DEFEASANCE.

     In addition to the Company’s rights under Section 401 (which shall not be affected by this
Section 402), the Company may, at the option of its Board of Directors evidenced by a resolution
set forth in an Officers’ Certificate, at any time, elect to have either Section 403 or 404 hereof
applied to all Outstanding Securities of any series upon compliance with the conditions set forth
in Sections 403 through 406 hereof.

SECTION 403. LEGAL DEFEASANCE AND DISCHARGE.

     Upon the Company’s exercise under Section 402 hereof of the option applicable to this
Section 403, the Company and the Guarantors shall, subject to the satisfaction of the conditions
set forth in Section 405 hereof, be deemed to have been discharged from their obligations with
respect to all Outstanding Securities of a series on the date the conditions set forth below are
satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the
Company shall be deemed to have paid and discharged the entire Indebtedness represented by the
Outstanding Securities of a series, which shall thereafter be deemed to be “outstanding” only for
the purposes of Section 406 hereof and the other Sections of this Indenture referred to in (a) and
(b) below, and to have satisfied all its other obligations under such Securities and this Indenture
(and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of Outstanding Securities of any
series to receive payments in respect of the principal of, premium, if any, and interest, if any,
on such Securities when such payments are due from the trust referred to in Section 405, (b) the
Company’s obligations with respect to such Securities under Sections 304, 305, 306 and 1002 of this
Indenture, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the
Company’s obligations in connection therewith and (d) this Article IV. Subject to compliance with
Sections 402 through 406 hereof, the Company may exercise its option under this Section 403
notwithstanding the prior exercise of its option under Section 404 hereof.

SECTION 404. COVENANT DEFEASANCE.

     Upon the Company’s exercise under Section 402 hereof of the option applicable to this
Section 404, the Company shall, subject to the satisfaction of the conditions set forth in
Section 405 hereof, be released from the operation of Section 801 hereof with respect to the
Outstanding Securities of a series and any other covenant contained in the Board Resolution or
supplemental indenture relating to such series on and after the date the conditions set forth in
Section 405 are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of such series
shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or
declaration or act of Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being
understood that such Securities shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to the Outstanding Securities of such series,
the Company may omit to comply with and shall have no liability in respect of any term, condition
or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant
to any other provision herein or in any other document and such omission to comply shall not
constitute a Default or an Event of Default under Section 501 hereof, but, except as specified
above, the remainder of this Indenture and such series of Securities shall be unaffected thereby.
In addition, upon the Company’s exercise under Section 402 hereof of the option applicable to this
Section 404 hereof, subject to the satisfaction of the conditions set forth in Section 405 hereof,
Sections 501(3) through 501(6) and Section 501(9) hereof shall not constitute Events of Default.

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SECTION 405. CONDITIONS TO LEGAL OR COVENANT DEFEASANCE.

     The following shall be the conditions to the application of either Section 403 or 404 hereof
to the Outstanding Securities of any series:

     In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of the Securities, cash in United States dollars, U.S. Government Obligations,
or a combination thereof, in such amounts as will be sufficient, to pay the principal of, or
interest and premium, if any, on the Outstanding Securities of such series on the Stated
Maturity or on the applicable redemption date, as the case may be, and the Company must
specify whether the Securities are being defeased to maturity or to a particular redemption
date;

     (b) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that (i) the Company has
received from, or there has been published by, the Internal Revenue Service a ruling or
(ii) 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;

     (c) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming 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 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;

     (d) no Default or Event of Default shall have occurred and be continuing either:
(i) 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); or (ii) insofar as Events of Default from
bankruptcy or insolvency events are concerned, at any time in the period ending on the 91st
day after the date of deposit;

     (e) 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 is a party or by which the Company is bound;

     (f) the Company must have delivered to the Trustee an Opinion of Counsel to the effect
that, assuming no intervening bankruptcy of the Company or any Guarantor between the date of
deposit and the 91st day following the deposit and assuming that no Holder is an “insider”
of the Company under applicable bankruptcy law, after the 91st day following the deposit,
the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency,
reorganization or similar laws affecting creditors’ rights generally;

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

     (h) the Company must deliver to the Trustee 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.

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	SECTION 406.	 	DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER
MISCELLANEOUS PROVISIONS.

     Subject to Section 407 hereof, all money and non callable U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 406, the “Trustee”) pursuant to Section 401 or 404 hereof
in respect of the Outstanding Securities of any series shall 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 on, if any, and interest, but such money need not be segregated
from other funds except to the extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable U.S. Government Obligations deposited pursuant to
Section 401 or 404 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.

     Anything in this Article IV to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the written request of the Company any money or non-callable
U.S. Government Obligations held by it as provided in Section 401 or 404 hereof which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount thereof that would then
be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance or
satisfaction and discharge of this Indenture.

SECTION 407. REPAYMENT TO COMPANY.

     Any money deposited with the Trustee or any paying agent, or then held by the Company, in
trust for the payment of the principal of, premium on, if any, or interest on any Securities and
remaining unclaimed for two years after such principal, and premium, if any, or interest has become
due and payable shall be paid to the Company on its written request or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Securities shall thereafter,
as an unsecured creditor, 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, shall 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 shall 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 408. REINSTATEMENT.

     If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations
deposited with respect to Securities of any series in accordance with Section 401, 403 or 404
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
obligations under this Indenture with respect to the Securities of such series and the Securities
of such series shall be revived and reinstated as though no deposit had occurred pursuant to
Section 401, 403 or 404 hereof until such time as the Trustee or Paying Agent is permitted to apply
all such money or U.S. Government Obligations in accordance with Section 401, 403 or 404 hereof, as
the case may be; provided, however, that, if the Company makes any payment of principal of, premium
on, if any, or interest on any Securities following 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 U.S. Government Obligations held by the Trustee or Paying Agent.

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ARTICLE FIVE

REMEDIES

SECTION 501. EVENTS OF DEFAULT.

     An “Event of Default” on a series occurs if:

     (1) the Company defaults in the payment of interest on any Security of such series when
the same becomes due and payable and the Default continues for a period of 30 days;

     (2) the Company defaults in the payment of the principal of any Security of such series
when the same becomes due and payable at maturity, upon redemption or otherwise;

     (3) the Company fails to comply with any of its other agreements in the Securities of
such series or this Indenture (as they relate thereto) and the Default continues for the
period and after the notice specified below (except in the case of a default with respect to
any Change of Control Provisions or Article VIII (or any replacement provisions contemplated
by Article VIII), which will constitute Events of Default with notice but without passage of
time);

     (4) the acceleration of any Indebtedness of the Company in an amount of $50.0 million
or more, individually or in the aggregate, and such acceleration does not cease to exist, or
such Indebtedness is not satisfied, in either case within five days after such acceleration;

     (5) the failure by the Company to make any principal or interest payment in an amount
of $50.0 million or more, individually or in the aggregate, in respect of Indebtedness of
the Company within five days of such principal or interest becoming due and payable (after
giving effect to any applicable grace period set forth in the documents governing such
Indebtedness);

     (6) a final judgment or judgments in an amount of $50.0 million or more, individually
or in the aggregate, for the payment of money having been entered by a court or courts of
competent jurisdiction against the Company and such judgment or judgments is not satisfied,
stayed, annulled or rescinded within 90 days after being entered;

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

     (a) commences a voluntary case,

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

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

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

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

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

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

     (c) orders the liquidation of the Company,

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

     (9) any other Event of Default occurs with respect to Securities of that series as
provided in the supplemental indenture or Board Resolutions establishing such series of
Securities.

     The term “Bankruptcy Law” means the Bankruptcy Act 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.

     A Default under clause (3) above is not an Event of Default until the Trustee notifies the
Company, or the Holders of at least 25% in principal amount of the Securities of the applicable
series notify the Company and the Trustee of the Default and (except in the case of a default with
respect to any provisions of any supplemental indenture or Board Resolution establishing such
series of Securities giving the Holders of Securities of such series the right to require the
Company to repurchase or redeem such Securities of such series upon the occurrence of a change of
control prior to the final maturity date of such Securities of such series (“Change of Control
Provisions”) or Article VIII (or any replacement provisions contemplated by Article VIII)) the
Company does not cure the Default within 90 days after receipt of the notice. The notice must
specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.”

     Notwithstanding the foregoing provisions of this Section 501, if the principal of (and
premium, if any) or any interest on or Additional Amounts with respect to any Security is payable
in a currency or currencies (including a composite currency) other than Dollars and such currency
(or currencies) is (or are) not available to the Company for making payment thereof due to the
imposition of exchange controls or other circumstances beyond the control of the Company (a
“Conversion Event”), the Company will be entitled to satisfy its obligations to Holders of the
Securities by making such payment in Dollars in an amount equal to the Dollar equivalent of the
amount payable in such other currency, as determined by the Company by reference to the Exchange
Rate, as such Exchange Rate is certified for customs purposes by the Federal Reserve Bank of New
York on the date of such payment, or, if such rate is not then available, on the basis of the most
recently available Exchange Rate. Notwithstanding the foregoing provisions of this Section 501,
any payment made under such circumstances in Dollars where the required payment is in a currency
other than Dollars will not constitute an Event of Default under this Indenture.

     Promptly after the occurrence of a Conversion Event, the Company shall give written notice
thereof to the Trustee; and the Trustee, promptly after receipt of such notice, shall give notice
thereof in the manner provided in Section 107 to the Holders. Promptly after the making of any
payment in Dollars as a result of a Conversion Event, the Company shall give notice in the manner
provided in Section 107 to the Holders, setting forth the applicable Exchange Rate and describing
the calculation of such payments.

SECTION 502. ACCELERATION.

     If any Event of Default (other than an Event of Default specified in clause (7) or (8) of
Section 501 hereof) with respect to Securities of any series occurs and is continuing, either the
Trustee or the Holders of at least 25% in principal amount of the then Outstanding Securities of
that series may declare all the Securities of that series to be due and payable immediately. Upon
any such declaration, the Securities of that series shall become due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders). Notwithstanding the
foregoing, if an Event of Default specified in clause (7) or (8) of Section 501 hereof occurs with
respect to any series of Securities, all outstanding Securities of that series shall become due and
payable without further action or notice. The Holders of a majority in aggregate principal amount
of Securities of any series then Outstanding by notice to the Trustee may on behalf of the Holders
of all of the Securities of that series waive any existing Default or Event of Default and its
consequences under this Indenture except a continuing Default or Event of Default in the payment of
interest or premium, if any, on, or the principal of, the Securities of that series.

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SECTION 503. OTHER REMEDIES.

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

     The Trustee may maintain a proceeding even if it does not possess any of the Securities in a
series or does not produce any of them in the proceeding. A delay or omission by the Trustee or
any Holder of a Security 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 504. WAIVER OF PAST DEFAULTS.

     Holders of not less than a majority in aggregate principal amount of the then outstanding
Securities in any series by notice to the Trustee may on behalf of the Holders of all of the
Securities of that series waive any existing Default or Event of Default 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, the Securities of that series (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 and its consequences,
including any related payment default that resulted from such acceleration, with respect to that
series). 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 505. CONTROL BY MAJORITY.

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

SECTION 506. LIMITATION ON SUITS.

     A Holder of a Security of any series may pursue a remedy with respect to this Indenture or the
Securities of that series only if:

     (a) the Holder of a Security of that series gives to the Trustee written notice of a
continuing Event of Default;

     (b) the Holders of at least 25% in principal amount of the then outstanding Securities
of that series make a written request to the Trustee to pursue the remedy;

     (c) such Holder of a Security or Holders of Securities offer and, if requested, provide
to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense;

     (d) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer and, if requested, the provision of indemnity; and

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

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

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SECTION 507. 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 the Security, on or
after the respective due dates expressed in the Security (including in connection with an offer to
purchase), or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

SECTION 508. COLLECTION SUIT BY TRUSTEE.

     With respect to the Securities of any series, if an Event of Default specified in clause
(1) or (2) of Section 501 hereof occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company for the whole
amount of principal of, premium on, if any, and interest remaining unpaid on the Securities of that
series and interest on overdue principal and, to the extent lawful, interest and such further
amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel.

SECTION 509. TRUSTEE MAY FILE PROOFS OF CLAIM.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Securities of any series allowed in any judicial proceedings
relative to the Company (or any other obligor upon the 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 that series to make such payments to the Trustee, and in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay
to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 607 of this Indenture. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 607 of this Indenture out of the estate in any such proceeding, shall be
denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of,
any and all distributions, dividends, money, securities and other properties that the Holders may
be entitled to receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of any series of
Securities any plan of reorganization, arrangement, adjustment or composition affecting the
Securities of that series or the rights of any Holder, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding.

SECTION 510. PRIORITIES.

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

     (a) First: to the Trustee, its agents and attorneys for amounts due under Section 607
of this Indenture, including payment of all compensation, expense and liabilities incurred,
and all advances made, by the Trustee and the costs and expenses of collection;

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

     (c) 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 510.

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SECTION 511. UNDERTAKING FOR COSTS.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, 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 does not apply to a suit
by the Trustee, a suit by a Holder of a Security pursuant to Section 507 hereof, or a suit by
Holders of more than 10% in principal amount of the then outstanding Securities of any series.

ARTICLE SIX

THE TRUSTEE

SECTION 601. CERTAIN DUTIES AND RESPONSIBILITIES.

     (a) Except during the continuance of an Event of Default with respect to the Securities of any
series:

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

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions that by any provision hereof
are specifically required to be furnished to the Trustee, the Trustee shall be under a duty
to examine the same to determine whether they conform to the requirements of this Indenture.

     (b) In case an Event of Default has occurred and is continuing with respect to the Securities
of any series, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs.

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

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

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

     (3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities of any series or of all series, determined as
provided in Section 505, 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; and

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

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

SECTION 602. NOTICE OF DEFAULTS.

     Within 90 days after the occurrence of any Default or Event of Default with respect to the
Securities of any series, the Trustee shall give notice of such Default or Event of Default known
to the Trustee to all Holders of Securities of such series in the manner provided in Section 107
and in compliance with the Trust Indenture Act, unless such Default or Event of Default shall have
been cured or waived; provided, however, that, except in the case of a Default or Event of Default
in the payment of the principal of (or premium, if any) or interest on or any Additional Amounts
with respect to any Security of such series or in the payment of any sinking fund installment with
respect to Securities of such series, the Trustee shall be protected in withholding such notice if
and so long as the board of directors, the executive committee or a trust committee of directors
and/or Responsible Officers of the Trustee in good faith determines that the withholding of such
notice is in the interest of the Holders of Securities of such series; and provided, further, that
in the case of any Default or Event of Default of the character specified in Section 501(3) with
respect to Securities of such series, no such notice to Holders shall be given until at least 30
days after the occurrence thereof.

SECTION 603. CERTAIN RIGHTS OF TRUSTEE.

     Subject to the provisions of Section 601:

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

     (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

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

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

     (e) 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 pursuant to
this Indenture, unless such Holders shall have offered to the Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities that might be incurred by it
in compliance with such request or direction;

     (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, coupon, 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, and, if the
Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or
attorney;

     (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and, except for any
Affiliates of the Trustee,

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the Trustee shall not be responsible for any misconduct or negligence on the part of
any agent or attorney appointed with due care by it hereunder;

     (h) the Trustee shall not be charged with knowledge of any Default or Event of Default
with respect to the Securities of any series for which it is acting as Trustee unless either
(1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or
(2) written notice of such Default or Event of Default shall have been given to the Trustee
by the Company or any other obligor on such Securities or by any Holder of such Securities;
and

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

SECTION 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

     The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the
use or application by the Company of Securities or the proceeds thereof.

SECTION 605. MAY HOLD SECURITIES.

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

SECTION 606. MONEY HELD IN TRUST.

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

SECTION 607. COMPENSATION AND REIMBURSEMENT.

     The Company agrees:

     (1) to pay to the Trustee from time to time compensation for all services rendered by
it hereunder (which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

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

     (3) to indemnify the Trustee and each of its directors, officers, employees, agents
and/or representatives for, and to hold each of them harmless against, any loss, liability
or expense incurred without negligence or bad faith on each of their part, arising out of or
in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending themselves against any claim or liability in
connection with the exercise or performance of any of the Trustee’s powers or duties
hereunder.

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     As security for the performance of the obligations of the Company under this Section 607, the
Trustee shall have a lien prior to the Securities on all property and funds held or collected by
the Trustee as such, except funds held in trust for the payment of principal of, premium, if any,
or interest, if any, on or any Additional Amounts with respect to particular Securities.

     Any expenses and compensation for any services rendered by the Trustee after the occurrence of
an Event of Default specified in clause (7) or (8) of Section 501 shall constitute expenses and
compensation for services of administration under all applicable federal or state bankruptcy,
insolvency, reorganization or other similar laws.

     The provisions of this Section 607 and any lien arising hereunder shall survive the
resignation or removal of the Trustee or the discharge of the Company’s obligations under this
Indenture and the termination of this Indenture.

SECTION 608. DISQUALIFICATION; CONFLICTING INTERESTS.

     (a) If the Trustee has or shall acquire any conflicting interest, as defined in this
Section 608, with respect to the Securities of any series, it shall, within 90 days after
ascertaining that it has such conflicting interest, either eliminate such conflicting interest or
resign with respect to the Securities of that series in the manner and with the effect hereinafter
specified in this Article.

     (b) In the event that the Trustee shall fail to comply with the provisions of Subsection
(a) of this Section 608 with respect to the Securities of any series, the Trustee shall, within 10
days after the expiration of such 90-day period, transmit by mail to all Holders of Securities of
that series, as their names and addresses appear in the Security Register, notice of such failure
in compliance with the Trust Indenture Act.

     (c) For the purposes of this Section, the term “conflicting interest” shall have the meaning
specified in Section 310(b) of the Trust Indenture Act and the Trustee shall comply with
Section 310(b) of the Trust Indenture Act; provided, that there shall be excluded from the
operation of Section 310(b)(1) of the Trust Indenture Act with respect to the Securities of any
series any indenture or indentures under which other securities, or certificates of interest or
participation in other securities, of the Company are outstanding, if the requirements for such
exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are met. For purposes of the
preceding sentence, the optional provision permitted by the second sentence of Section 310(b)(1) of
the Trust Indenture Act shall be applicable.

SECTION 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

     There shall at all times be a Trustee hereunder which shall be a corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital
and surplus of at least $50 million and subject to supervision or examination by Federal or State
(or the District of Columbia) authority. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of said supervising or examining authority,
then for the purposes of this Section 609, the combined capital and surplus of such corporation
shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     The Indenture shall always have a Trustee who satisfies the requirements of Sections
310(a)(1), 310(a)(2) and 310(a)(5) of the Trust Indenture Act.

SECTION 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.

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

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     (b) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 shall not have been delivered to the resigning Trustee within 30
days after the giving of such notice of resignation, the resigning Trustee may petition any court
of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities
of such series.

     (c) The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series,
delivered to the Trustee and to the Company.

     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 608(a) after written request therefor
by the Company or by any Holder who has been a bona fide Holder of a Security for at least
six months, or

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

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

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee with respect
to all Securities, or (ii) subject to Section 505, any Holder who has been a bona fide Holder of a
Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and such successor Trustee or Trustees shall comply with the applicable requirements of
Section 611. If no successor Trustee with respect to the Securities of any series shall have been
so appointed by the Company and accepted appointment in the manner required by Section 611, any
Holder who has been a bona fide Holder of a Security of such series for at least six months may, on
behalf of himself and all others similarly situated, petition any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of such series.

     (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series by mailing written notice of such event by first-class mail, postage
prepaid, to all Holders of Securities of such series as their names and addresses appear in the
Security Register. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

SECTION 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.

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

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to such successor Trustee all the rights, powers and trusts of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all property and money held by
such retiring Trustee hereunder.

     (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment and which
(1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to,
and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series as to which the retiring Trustee is not retiring shall continue to be vested
in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as
shall be necessary to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee
of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the
resignation or removal of the retiring Trustee shall become effective to the extent provided
therein and each such successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates; but,
on request of the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates.

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

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

SECTION 612. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

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

SECTION 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.

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

SECTION 614. APPOINTMENT OF AUTHENTICATING AGENT.

     The Trustee may appoint an Authenticating Agent or Agents that shall be authorized to act on
behalf of the Trustee to authenticate Securities issued upon original issue and upon exchange,
registration of transfer or partial

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redemption or pursuant to Section 306, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee’s certificate of
authentication, such reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Company and shall at all times be a corporation organized and doing business under the laws of the
United States of America, any State thereof or the District of Columbia having a combined capital
and surplus of not less than $50 million or equivalent amount expressed in a foreign currency and
subject to supervision or examination by Federal or State (or the District of Columbia) authority
or authority of such country. If such Authenticating Agent publishes reports of condition at least
annually, pursuant to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section 614, the combined capital and surplus of such Authenticating Agent
shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section 614, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section 614.

     Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section 614,
without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.

     An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section 614, the Trustee
may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
mail written notice of such appointment by first-class mail, postage prepaid, to all Holders as
their names and addresses appear in the Security Register. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties
of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section 614.

     The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section 614, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 607.

     If an appointment is made pursuant to this Section 614, the Securities may have endorsed
thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of
authentication in the following form:

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

	 	 	 	 	 	 	 	 	 

	 	 	 	,	 	 	 
	 	 	AS TRUSTEE
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	, 	 	 	 
	 

	 	 	 	 

AS AUTHENTICATING AGENT
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	AUTHORIZED SIGNATORY.”	 	 	 	 

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     Notwithstanding any provision of this Section 614 to the contrary, if at any time any
Authenticating Agent appointed hereunder with respect to any series of Securities shall not also be
acting as the Security Registrar hereunder with respect to any series of Securities, then, in
addition to all other duties of an Authenticating Agent hereunder, such Authenticating Agent shall
also be obligated (i) to furnish to the Security Registrar promptly all information necessary to
enable the Security Registrar to maintain at all times an accurate and current Security Register
and (ii) prior to authenticating any Security denominated in a foreign currency, to ascertain from
the Company the units of such foreign currency that are required to be determined by the Company
pursuant to Section 302.

ARTICLE SEVEN

HOLDER’S LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.

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

     (a) semi-annually, not more than 15 days after each Regular Record Date relating to
that series (or, if there is no Regular Record Date relating to that series, on January 1
and July 1), a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of that series as of such dates, and

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

provided, that so long as the Trustee is the Security Registrar, the Company shall not be required
to furnish or cause to be furnished such a list to the Trustee. The Company shall otherwise comply
with Section 312(a) of the Trust Indenture Act.

SECTION 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders of each series contained in the most recent list furnished to the Trustee
as provided in Section 701 and the names and addresses of Holders of each series received by the
Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as
provided in Section 701 upon receipt of a new list so furnished. The Trustee shall otherwise
comply with Section 312(a) of the Trust Indenture Act.

     (b) Holders of Securities may communicate pursuant to Section 312(b) of the Trust Indenture
Act with other Holders with respect to their rights under this Indenture or under the Securities.
The Company, the Trustee, the Security Registrar and any other Person shall have the protection of
Section 312(c) of the Trust Indenture Act.

SECTION 703. REPORTS BY TRUSTEE.

     (a) Within 60 days after March 17 of each year commencing with the year 2012, the Trustee
shall transmit by mail to Holders a brief report dated as of such March 17 that complies with
Section 313(a) of the Trust Indenture Act. The Trustee shall comply with Section 313(b) of the
Trust Indenture Act. The Trustee shall transmit by mail all reports as required by Sections 313(c)
and 313(d) of the Trust Indenture Act.

     (b) A copy of each report pursuant to Subsection (a) of this Section 703 shall, at the time of
its transmission to Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed, with the Commission and with the Company. The Company will notify the
Trustee when any Securities are listed on any stock exchange.

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SECTION 704. REPORTS BY COMPANY.

     The Company shall file with the Trustee, within 15 days after the Company is required to file
the same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from time
to time by rules and regulations prescribe) which the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as
amended, and shall otherwise comply with Section 314(a) of the Trust Indenture Act.

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.

     (a) The Company shall not, directly or indirectly, in any transaction or series of related
transactions: (1) consolidate or merge with or into another Person (whether or not the Company is
the surviving corporation); (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,
or (3) assign any of its obligations under the Securities and this Indenture, in one or more
related transactions, to another Person; unless:

     (i) either: (A) the Company is the surviving corporation; or (B) the Person formed by
or surviving any such consolidation or merger (if other than the Company) or to which such
sale, assignment, transfer, conveyance or other disposition shall have been made is a
corporation organized or existing under the laws of the United States, any state thereof or
the District of Columbia;

     (ii) the Person formed by or surviving any such consolidation or merger (if other than
the Company) or the Person to which such sale, assignment, transfer, conveyance or other
disposition shall have been made assumes all the obligations of the Company under the
Securities and this Indenture pursuant to agreements;

     (iii) immediately after such transaction no Default or Event of Default exists;

     (iv) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such merger, consolidation or sale, assignment,
transfer, conveyance or other disposition of such properties or assets or assignment of its
obligations under the Securities and this Indenture and such supplemental indenture, if any,
comply with this Indenture.

     (b) The Company shall not, directly or indirectly, lease all or substantially all of its
properties or assets, in one or more related transactions, to any other Person.

     (c) Notwithstanding the foregoing, this Section 801 shall not apply to a sale, assignment,
transfer, conveyance or other disposition of assets between or among the Company and any of its
Wholly Owned Subsidiaries.

SECTION 802. SUCCESSOR PERSON SUBSTITUTED.

     Upon any consolidation or merger, any sale, assignment, transfer, lease, conveyance or other
disposition of all or substantially all of the assets of the Company, or any assignment of the
obligations under the Securities and this Indenture in accordance with Section 801 hereof, the
successor corporation 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, lease, conveyance or other disposition, the provisions of this Indenture referring to the
“Company” shall refer instead to the successor corporation 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

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and interest on the Securities except in the case of a sale of all of the Company’s assets
that meets the requirements of Section 801 hereof.

ARTICLE NINE

SUPPLEMENTAL INDENTURES

SECTION 901. WITHOUT CONSENT OF HOLDERS.

     Notwithstanding Section 902 of this Indenture, the Company and the Trustee may amend or
supplement this Indenture or the Securities of any series without the consent of any Holder of a
Security of any series:

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

     (b) to provide for uncertificated Securities in addition to or in place of certificated
Securities or to alter the provisions of Article II of this Indenture (including the related
definitions) in a manner that does not materially adversely affect any Holder;

     (c) to provide for the assumption of the Company’s or any guarantor’s obligations to
the Holders of the Securities by a successor to the Company pursuant to Article VIII of this
Indenture;

     (d) to make any change that would provide any additional rights or benefits to the
Holders of the Securities or that does not adversely affect the legal rights hereunder of
any such Holder in any material respect or to surrender any right or power conferred upon
the Company;

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

     (f) to change or eliminate any of the provisions of this Indenture; provided that any
such change or elimination becomes effective only when there are no outstanding Securities
of any series created prior to the execution of such amendment or supplemental indenture
that are adversely affected in any material respect by the change in or elimination of the
provision;

     (g) to supplement any of the provisions of this Indenture to such extent necessary to
permit or facilitate the defeasance and discharge of any series of Securities pursuant to
this Indenture; provided, that any such action does not adversely affect the interest of the
Holders of the Securities in any material respect;

     (h) to evidence and provide the acceptance of the appointment of a successor Trustee
pursuant to Sections 610 and 611 of this Indenture;

     (i) to add a guarantor of the Securities; and

     (j) to establish the form or terms of Securities of any series as permitted by Sections
201 and 301, or to authorize the issuance of additional Securities of a series previously
authorized.

     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 603 of this Indenture, the Trustee shall 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 shall not be obligated to enter into such amended or
supplemental indenture that affects its own rights, duties or immunities under this Indenture or
otherwise.

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SECTION 902. WITH CONSENT OF HOLDERS.

     Except as provided below in this Section 902, the Company and the Trustee may amend or
supplement the Securities of any series and this Indenture with respect to such series with the
consent of the Holders of at least a majority in aggregate principal amount at maturity of
Securities of that series then Outstanding voting as a single class (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for, that
series of Securities), and, subject to Sections 504 and 507 hereof, any existing Default or Event
of Default (other than a Default or Event of Default in the payment of the principal of, premium,
if any, and interest, if any, on such Securities, except a payment default resulting from an
acceleration that has been rescinded) or compliance with any provision of this Indenture or such
Securities may be waived with the consent of the Holders of a majority in aggregate principal
amount at maturity of the then Outstanding Securities of that series voting as a single class
(including without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, that series of Securities).

     Notwithstanding the foregoing, without the consent of each Holder of a Security affected, an
amendment or waiver under this Section 902 may not (with respect to Securities held by a
non-consenting Holder):

     (a) reduce the principal amount of the then Outstanding Securities whose Holders must
consent to an amendment, supplement or waiver;

     (b) reduce the principal of or change the fixed maturity of any Security or alter any
of the provisions with respect to the redemption of the Securities unless otherwise
specifically provided for in the supplemental indenture;

     (c) reduce the rate of or change the time for payment of interest on any Security;

     (d) waive a Default or Event of Default in the payment of principal of, or interest or
premium, if any, on the Securities (except a rescission of acceleration of the Securities by
the Holders of any series of Securities of at least a majority in aggregate principal amount
of the then Outstanding Securities of that series and a waiver of the payment default that
resulted from such acceleration);

     (e) make any Security payable in money other than that stated in the Security;

     (f) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Securities to receive payments of principal of, or
interest or premium, if any, on the Securities;

     (g) waive a redemption payment with respect to any Security (other than as may be
specifically permitted by the supplemental indenture);

     (h) cause the Securities to become subordinated in right of payment to any other
Indebtedness;

     (i) release any guarantor from any of its obligations under its guarantee or this
Indenture, except in accordance with the terms thereof; or

     (j) make any change in Sections 504 or 507 or the foregoing amendment and waiver
provisions.

     Upon the request of the Company accompanied by a Board Resolution 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 that series of Securities as
aforesaid, and upon receipt by the Trustee of the documents described in Section 603 of this
Indenture, the Trustee shall join with the Company in the execution of such amended or supplemental
indenture unless such amended or supplemental indenture directly affects the Trustee’s

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own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee
may in its discretion, but shall not be obligated to, enter into such amended or supplemental
indenture.

     It shall not be necessary for the consent of the Holders of Securities under this Section 902
to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if
such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section becomes effective, the Company
shall mail to the Holders of Securities of any series affected thereby a notice briefly describing
the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any such amended or
supplemental indenture or waiver.

SECTION 903. COMPLIANCE WITH TRUST INDENTURE ACT.

     Every amendment or supplement to this Indenture or the Securities shall be set forth in a
amended or supplemental indenture that complies with the Trust Indenture Act as then in effect.

SECTION 904. REVOCATION AND EFFECT OF CONSENTS.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Security is a continuing consent by the Holder of a Security 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 of a
Security or subsequent Holder of a Security may revoke the consent as to its Security if the
Trustee receives written notice of revocation before the date the waiver, supplement or amendment
becomes effective. An amendment, supplement or waiver becomes effective in accordance with its
terms and thereafter binds every Holder.

SECTION 905. NOTATION ON OR EXCHANGE OF SECURITIES.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Security thereafter authenticated. The Company in exchange for all Securities of a series may
issue and the Trustee shall, upon receipt of a written order from the Company to authenticate such
Securities, authenticate new Securities that reflect the amendment, supplement or waiver.

SECTION 906. TRUSTEE TO SIGN AMENDMENTS, ETC.

     The Trustee shall sign any amended or supplemental indenture authorized pursuant to this
Article IX if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture
until the Board of Directors approves it. In executing any amended or supplemental indenture, the
Trustee shall be entitled to receive and (subject to Section 601 of this Indenture) shall be fully
protected in relying upon, in addition to the documents required by Section 603 this Indenture, an
Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or
supplemental indenture is authorized or permitted by this Indenture.

ARTICLE TEN

COVENANTS

SECTION 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.

     The Company covenants and agrees for the benefit of each series of Securities that it will
duly and punctually pay the principal of (and premium, if any), interest on and any Additional
Amounts with respect to the Securities of that series in accordance with the terms of the
Securities and this Indenture.

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SECTION 1002. MAINTENANCE OF OFFICE OR AGENCY.

     If Securities of a series are issuable only as Registered Securities, the Company will
maintain in each Place of Payment for any series of Securities an office or agency where Securities
of that series may be presented or surrendered for payment, where Securities of that 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 that series and this Indenture may be served. The Company
will give prompt written notice to the Trustee of the location, and any change in the location, of
such office or agency. If at any time the Company shall fail to maintain any such required office
or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

     The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series 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 shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment 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 location of any such other office or agency.

SECTION 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST.

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

     Whenever the Company shall have one or more Paying Agents for any series of Securities, the
Company will, on or before each due date of the principal of (and premium, if any) or interest on
any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal
(and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of
the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

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

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

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

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

     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which sums were held by the Company or such Paying
Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

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     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 (and premium, if any) or interest on any Security of any
series and remaining unclaimed for three years after such principal (and premium, if any) or
interest has become due and payable shall, unless otherwise required by mandatory provisions of
applicable escheat, or abandoned or unclaimed property law, be paid to the Company on Company
Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of
such Security shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon cease; provided,
however, that 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 an Authorized Newspaper in The
Borough of Manhattan, The City of New York and in such other Authorized Newspapers as the Trustee
shall deem appropriate, notice that such money remains unclaimed and that, after a date specified
herein, which shall not be less than 30 days from the date of such publication, any unclaimed
balance of such money then remaining will, unless otherwise required by mandatory provisions of
applicable escheat, or abandoned or unclaimed property law, be repaid to the Company.

SECTION 1004. EXISTENCE.

     Subject to Article VIII, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence.

SECTION 1005. STATEMENT BY OFFICERS AS TO DEFAULT.

     The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year,
an Officers’ Certificate stating that a review of the activities of the Company and its
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing
officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such officer signing such
certificate, that to the best of his or her knowledge the Company has kept, observed, performed and
fulfilled each and every covenant contained in this Indenture and is not in default in the
performance or observance of any of the terms, provisions and conditions of this Indenture (or, if
a Default or Event of Default shall have 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.

     The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee,
forthwith and in any event within five days upon any officer becoming aware of any Default or Event
of Default or an event which, with notice or the lapse of time or both, would constitute an 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 1006. WAIVER OF CERTAIN COVENANTS.

     The Company may omit in any particular instance to comply with any covenant or condition set
forth in Section 1005, or any covenant added for the benefit of any series of Securities as
contemplated by Section 301 (unless otherwise specified pursuant to Section 301) if before or after
the time for such compliance the Holders of a majority in principal amount of the Outstanding
Securities of all series affected by such omission (acting as one class) shall, by Act of such
Holders, either waive such compliance in such instance or generally waive compliance with such
covenant or condition, but no such waiver shall extend to or affect such covenant or condition
except to the extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such covenant or
condition shall remain in full force and effect.

SECTION 1007. ADDITIONAL AMOUNTS.

     If the Securities of a series expressly provide for the payment of Additional Amounts, the
Company will pay to the Holder of any Security of such series Additional Amounts as expressly
provided therein. Whenever in

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this Indenture there is mentioned, in any context, the payment of the principal of or any
premium or interest on, or in respect of, any Security of any series or the net proceeds received
from the sale or exchange of any Security of any series, such mention shall be deemed to include
mention of the payment of Additional Amounts provided for in this Section 1007 to the extent that,
in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to
the provisions of this Section 1007 and express mention of the payment of Additional Amounts (if
applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in
those provisions hereof where such express mention is not made.

     If the Securities of a series provide for the payment of Additional Amounts, at least 10 days
prior to the first Interest Payment Date with respect to that series of Securities (or if the
Securities of that series will not bear interest prior to Maturity, the first day on which a
payment of principal and any premium is made), and at least 10 days prior to each date of payment
of principal and any premium or interest if there has been any change with respect to the matters
set forth in the below-mentioned Officers’ Certificate, the Company shall furnish the Trustee and
the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’
Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of
principal of and any premium or interest on the Securities of that series shall be made to Holders
of Securities of that series who are United States Aliens without withholding for or on account of
any tax, assessment or other governmental charge described in the Securities of that series. If
any such withholding shall be required, then such Officers’ Certificate shall specify by country
the amount, if any, required to be withheld on such payments to such Holders of Securities and the
Company will pay to such Paying Agent the Additional Amounts required by this Section. The Company
covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against any
loss, liability or expense reasonably incurred without negligence or bad faith on their part
arising out of or in connection with actions taken or omitted by any of them in reliance on any
Officers’ Certificate furnished pursuant to this Section 1007.

ARTICLE ELEVEN

REDEMPTION OF SECURITIES

SECTION 1101. APPLICABILITY OF ARTICLE.

     Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301
for Securities of any series) in accordance with this Article.

SECTION 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE.

     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution.
In case of any redemption at the election of the Company of less than all the Securities of any
series, the Company shall, a reasonable period prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be redeemed. In the
case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish
the Trustee with an Officers’ Certificate evidencing compliance with such restriction.

SECTION 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.

     If less than all the Securities of any series are to be redeemed, the particular Securities to
be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee,
from the Outstanding Securities of such series not previously called for redemption, by such method
as the Trustee shall deem fair and appropriate and in accordance with DTC’s procedures and that may
provide for the selection for redemption of portions (equal to the minimum authorized denomination
for Securities of that series or any integral multiple thereof) of the principal amount of
Securities of such series of a denomination larger than the minimum authorized denomination for
Securities of that series or of the principal amount of global Securities of such series.

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

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

SECTION 1104. NOTICE OF REDEMPTION.

     Notice of redemption shall be given in the manner provided in Section 107 to the Trustee and
each Holder of Securities to be redeemed not less than 30 nor more than 60 days prior to the
Redemption Date.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

     (3) if less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts) of the
particular Securities to be redeemed,

     (4) that on the Redemption Date the Redemption Price will become due and payable upon
each such Security to be redeemed and, if applicable, that interest thereon will cease to
accrue on and after said date,

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

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

     (7) the “CUSIP” number, if applicable.

     A notice of redemption as contemplated by Section 107 need not identify particular Registered
Securities to be redeemed. Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company.

SECTION 1105. DEPOSIT OF REDEMPTION PRICE.

     On or before 10:00 a.m., New York City time, on any Redemption Date, the Company shall deposit
with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the
Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued
interest on and any Additional Amounts with respect to all the Securities to be redeemed on that
date.

SECTION 1106. SECURITIES PAYABLE ON REDEMPTION DATE.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from
and after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company
at the Redemption Price, together with accrued interest (and any Additional Amounts) to the
Redemption Date; provided, however, 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,

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registered as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 307.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security or, in the case of Original Issue
Discount Securities, the Securities’ Yield to Maturity.

SECTION 1107. SECURITIES REDEEMED IN PART.

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

SECTION 1108. PURCHASE OF SECURITIES.

     Unless otherwise specified as contemplated by Section 301, the Company and any Affiliate of
the Company may at any time purchase or otherwise acquire Securities in the open market or by
private agreement. Such acquisition shall not operate as or be deemed for any purpose to be a
redemption of the indebtedness represented by such Securities. Any Securities purchased or
acquired by the Company may be delivered to the Trustee and, upon such delivery, the indebtedness
represented thereby shall be deemed to be satisfied. Section 309 shall apply to all Securities so
delivered.

ARTICLE TWELVE

SINKING FUNDS

SECTION 1201. APPLICABILITY OF ARTICLE.

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 301 for Securities
of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment.” Unless otherwise provided 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 1202. Each sinking fund payment shall be applied to the redemption of Securities of any
series as provided for by the terms of Securities of such series.

SECTION 1202. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.

     The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption), and (2) may apply as a credit Securities of a series which have been
redeemed either at the election of the Company pursuant to the terms of such Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; provided that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Securities for redemption through operation of
the sinking fund and the amount of such sinking payment shall be reduced accordingly.

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SECTION 1203. REDEMPTION OF SECURITIES FOR SINKING FUND.

     Not less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee) 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 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 delivery
of or by crediting Securities of that series pursuant to Section 1202 and will also deliver to the
Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund
payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment
date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Company in the manner provided in Section 1104. Such
notice having been duly given, the redemption of such Securities shall be made upon the terms and
in the manner stated in Sections 1106 and 1107.

ARTICLE THIRTEEN

MEETINGS OF HOLDERS OF SECURITIES

SECTION 1301. PURPOSES FOR WHICH MEETINGS MAY BE CALLED.

     A meeting of Holders of Securities of any or all series may be called at any time and from
time to time pursuant to this Article to make, give or take any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture to be made, given or
taken by Holders of Securities of such series.

SECTION 1302. CALL, NOTICE AND PLACE OF MEETINGS.

     (a) The Trustee may at any time call a meeting of Holders of Securities of any series for any
purpose specified in Section 1301, to be held at such time and at such place in The Borough of
Manhattan, The City of New York, or in any other location, as the Trustee shall determine. Notice
of every meeting of Holders of Securities of any series, setting forth the time and the place of
such meeting and in general terms the action proposed to be taken at such meeting, shall be given,
in the manner provided in Section 107, not less than 20 nor more than 180 days prior to the date
fixed for the meeting.

     (b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of at
least 10% in aggregate principal amount of the Outstanding Securities of any series, shall have
requested the Trustee for any such series to call a meeting of the Holders of Securities of such
series for any purpose specified in Section 1301, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have made the
first publication of the notice of such meeting within 30 days after receipt of such request or
shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company
or the Holders of Securities of such series in the amount above specified, as the case may be, may
determine the time and the place in The Borough of Manhattan, The City of New York for such meeting
and may call such meeting for such purposes by giving notice thereof as provided in Subsection
(a) of this Section.

SECTION 1303. PERSONS ENTITLED TO VOTE AT MEETINGS.

     To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall
be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by
an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of
such series by such Holder or Holders. The only Persons who shall be entitled to be present or to
speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote
at such meeting and their counsel, any representatives of the Trustee and its counsel and any
representatives of the Company and its counsel.

SECTION 1304. QUORUM; ACTION.

     The Persons entitled to vote a majority in aggregate principal amount of the Outstanding
Securities of a series shall constitute a quorum for a meeting of Holders of Securities of such
series. In the absence of a quorum

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within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened
at the request of Holders of Securities of such series, be dissolved. In any other case, the
meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the
meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as
determined by the chairman of the meeting prior to the adjournment of such adjourned meeting.
Subject to Section 1305(d), notice of the reconvening of any adjourned meeting shall be given as
provided in Section 1302(a), except that such notice need be given only once not less than five
days prior to the date on which the meeting is scheduled to be reconvened. Notice of the
reconvening of an adjourned meeting shall state expressly that Persons entitled to vote a majority
in principal amount of the Outstanding Securities of such series shall constitute a quorum.

     Except as limited by the proviso to Section 902, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Holders of a majority in aggregate principal amount of the Outstanding
Securities of that series; provided, however, that, except as limited by the proviso to
Section 902, any resolution with respect to any request, demand, authorization, direction, notice,
consent or waiver which this Indenture expressly provides may be made, given or taken by the
Holders of a specified percentage that is less than a majority in aggregate principal amount of the
Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly
reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of
such specified percentage in aggregate principal amount of the Outstanding Securities of that
series.

     Except as limited by the fourth paragraph of Section 902, any resolution passed or decision
taken at any meeting of Holders of Securities of any series duly held in accordance with this
Section shall be binding on all the Holders of Securities of such series, whether or not present or
represented at the meeting.

SECTION 1305. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS.

     (a) The holding of Securities shall be proved in the manner specified in Section 105 and the
appointment of any proxy shall be proved in the manner specified in Section 105. Such regulations
may provide that written instruments appointing proxies, regular on their face, may be presumed
valid and genuine without the proof specified in Section 105 or other proof.

     (b) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of Securities as
provided in Section 1302(b), in which case the Company or the Holders of Securities of the series
calling the meeting, as the case may be, shall appoint a temporary chairman. A permanent chairman
and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a
majority in aggregate principal amount of the Outstanding Securities of such series represented at
the meeting.

     (c) At any meeting each Holder of a Security of such series and each proxy shall be entitled
to one vote for each $1,000 principal amount of the Outstanding Securities of such series held or
represented by him; provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to
be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of
a Security of such series or as a proxy.

     (d) Any meeting of Holders of Securities of any series duly called pursuant to Section 1302 at
which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority
in aggregate principal amount of the Outstanding Securities of such series represented at the
meeting; and the meeting may be held as so adjourned without further notice.

SECTION 1306. COUNTING VOTES AND RECORDING ACTION OF MEETINGS.

     The vote upon any resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their

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representatives by proxy and the principal amounts and serial numbers of the Outstanding
Securities of such series held or represented by them. The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting for or against any
resolution and who shall make and file with the secretary of the meeting their verified written
reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the
proceedings of each meeting of Holders of Securities of any series shall be prepared by the
secretary of the meeting and there shall be attached to such record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons
having knowledge of the facts setting forth a copy of the notice of the meeting and showing that
such notice was given as provided in Section 1302 and, if applicable, Section 1304. Each copy
shall be signed and verified by the affidavits of the permanent chairman and secretary of the
meeting and one such copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.
Any record so signed and verified shall be conclusive evidence of the matters therein stated.

* * *

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

[Signatures on following page]

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     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and
their respective corporate seals to be hereunto affixed and attested, as of the day and year first
above written.

	 	 	 	 	 	 	 	 
	 	 
	 	 	 	ENSCO PLC	 	 
	 
	 	 	 	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 	 	 
	 

	 	 	By:	 	/s/ Daniel W. Rabun	 	 
	 

	 	 	 	 	 

Name: Daniel W. Rabun
	 	 
	 

	 	 	 	 	Title: Chairman, President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 
	
	 	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	By:        
	/s/ H. E. Malone, Jr.	 	 	 	 	 	 
	 
	H. E. Malone, Jr.	 	 	 	 	 	
	 
	Vice President and Assistant Secretary	 	 	 	 	 	 
	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,
TRUSTEE	 	 
	 
	 	 	 	 	 	 	 
	 

	 	 	By:
	 	Deutsche Bank National Trust Company	 	 
	 
	 	 	 	 	 	 	 
	 

	 	 	By:	 	/s/ Irina Golovashchuk	 	 
	 

	 	 	 	 	 

Name: Irina Golovashchuk
	 	 
	 

	 	 	 	 	Title: Assistant Vice President	 	 
	 
	 	 	 	 	 	 	 
	 

	 	 	By:	 	/s/ David Contino	 	 
	 

	 	 	 	 	 

Name: David Contino
	 	 
	 

	 	 	 	 	Title: Vice Presidentexv4w23

Exhibit 4.23

3.250% SENIOR NOTES DUE 2016

4.700% SENIOR NOTES DUE 2021

SUPPLEMENTAL INDENTURE

between

ENSCO PLC

and

DEUTSCHE BANK TRUST COMPANY AMERICAS

Dated as of March 17, 2011

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	PAGE	 
	ARTICLE 1
	 	 	 	 
	DEFINITIONS
	 	 	 	 
	 
	 	 	 	 
	Section 1.01. Definition of Terms
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 2
	 	 	 	 
	TERMS AND CONDITIONS OF THE NOTES
	 	 	 	 
	 
	 	 	 	 
	Section 2.01. Designation and Principal Amount
	 	 	7	 
	Section 2.02. Original Issue of Notes; Further Issuances
	 	 	7	 
	Section 2.03. Maturity
	 	 	8	 
	Section 2.04. Interest
	 	 	8	 
	Section 2.05. Place of Payment
	 	 	8	 
	Section 2.06. Form; Denomination
	 	 	8	 
	Section 2.07. Legend
	 	 	9	 
	Section 2.08. Special Transfer Provisions
	 	 	9	 
	Section 2.09. Depositary
	 	 	10	 
	 
	 	 	 	 
	ARTICLE 3
	 	 	 	 
	REDEMPTION OF THE NOTES
	 	 	 	 
	 
	 	 	 	 
	Section 3.01. Optional Redemption by Company
	 	 	10	 
	Section 3.02. Special Mandatory Redemption
	 	 	11	 
	Section 3.03. Optional Redemption by Company Due to Certain Tax Changes
	 	 	12	 
	Section 3.04. No Sinking Fund
	 	 	12	 
	 
	 	 	 	 
	ARTICLE 4
	 	 	 	 
	ADDITIONAL AMOUNTS
	 	 	 	 
	 
	 	 	 	 
	Section 4.01. Additional Amounts
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 5
	 	 	 	 
	COVENANTS
	 	 	 	 
	 
	 	 	 	 
	Section 5.01. Limitation on Liens
	 	 	15	 
	Section 5.02. Limitation on Sale/Leaseback Transactions
	 	 	15	 
	Section 5.03. Reports by Company
	 	 	16	 
	 
	 	 	 	 
	ARTICLE 6
	 	 	 	 
	CONSOLIDATION, MERGER AND SALE OF ASSETS
	 	 	 	 
	 
	 	 	 	 
	Section 6.01. Consolidation, Merger and Sale of Assets
	 	 	16	 
	 
	 	 	 	 
	ARTICLE 7
	 	 	 	 
	EVENTS OF DEFAULT
	 	 	 	 
	 
	 	 	 	 
	Section 7.01. Events of Default
	 	 	17	 

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	 	 	PAGE	 
	ARTICLE 8
	 	 	 	 
	PATRIOT ACT; FORCE MAJEURE
	 	 	 	 
	 
	 	 	 	 
	Section 8.01. Patriot Act; Force Majeure
	 	 	19	 
	 
	 	 	 	 
	ARTICLE 9
	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	 
	 	 	 	 
	Section 9.01. Ratification of Indenture
	 	 	19	 
	Section 9.02. Trustee Not Responsible for Recitals
	 	 	19	 
	Section 9.03. Governing Law
	 	 	20	 
	Section 9.04. Separability
	 	 	20	 
	Section 9.05. Counterparts
	 	 	20	 
	Section 9.06. Submission to Jurisdiction; Appointment of Agent for Service of Process
	 	 	20	 

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     SUPPLEMENTAL INDENTURE, dated as of March 17, 2011 (the “Supplemental Indenture”), between
Ensco plc, a public limited company organized under the laws of England and Wales (the “Company”),
and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”) under the Indenture, dated as
of March 17, 2011, between the Company and the Trustee (the “Indenture”).

     WHEREAS, the Company executed and delivered the Indenture to the Trustee to provide, among
other things, for the future issuance of the Company’s unsecured Securities to be issued from time
to time in one or more series as might be determined by the Company under the Indenture, in an
unlimited aggregate principal amount which may be authenticated and delivered as provided in the
Indenture;

     WHEREAS, Section 901 of the Indenture provides for various matters with respect to any series
of Securities issued under the Indenture to be established in an indenture supplemental to the
Indenture;

     WHEREAS, Section 901 of the Indenture provides for the Company and the Trustee to enter into
an indenture supplemental to the Indenture to establish the form or terms of Securities of any
series as provided by Sections 201 and 301 of the Indenture;

     WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to
execute and deliver this Supplemental Indenture;

     WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the
establishment of two new series of its Securities to be known as its 3.250% Senior Notes due 2016
(the “2016 Notes”) and its 4.700% Senior Notes due 2021 (the “2021 Notes”; and together with the
2016 Notes, the “Notes”), the form and substance of such Notes and the terms, provisions and
conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture;

     WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental
Indenture and all requirements necessary to make (i) this Supplemental Indenture a valid instrument
in accordance with its terms, and (ii) the Notes, when executed by the Company and authenticated
and delivered by the Trustee, the valid obligations of the Company, have been performed, and the
execution and delivery of this Supplemental Indenture has been duly authorized in all respects;

     NOW THEREFORE, in consideration of the purchase and acceptance of the Notes by the Holders
thereof, and for the purpose of setting forth, as provided in the Indenture, the form and substance
of the Notes and the terms, provisions and conditions thereof, the Company covenants and agrees
with the Trustee as follows:

ARTICLE 1

DEFINITIONS

     Section 1.01. Definition of Terms. Unless the context otherwise requires:

     (a) a term defined in the Indenture has the same meaning when used in this Supplemental
Indenture unless the definition of such term is amended and supplemented pursuant to this
Supplemental Indenture, in which case the definition in this Supplemental Indenture shall
govern solely with respect to the Notes;

     (b) a term defined anywhere in this Supplemental Indenture has the same meaning
throughout;

     (c) the singular includes the plural and vice versa;

 

 

     (d) a reference to a Section or Article is to a Section or Article in this Supplemental
Indenture;

     (e) headings are for convenience of reference only and do not affect interpretation;

     (f) in the Indenture, references to Section 501(7) or (8) of the Indenture are, with
respect to the Notes, changed to Section 501(a)(iv) or (v) of the Indenture as supplemented
by this Supplemental Indenture;

     (g) the following terms have the meanings given to them in this Section 1.01(f):

     “2016 Notes” shall have the meaning set forth in the recitals above.

     “2021 Notes” shall have the meaning set forth in the recitals above.

     “Additional Amounts” shall have the meaning set forth in Section 4.01(a).

     “Attributable Indebtedness,” when used with respect to any Sale/Leaseback Transaction, means,
as at the time of determination, the present value (discounted at the rate set forth or implicit in
the terms of the lease included in such transaction) of the total obligations of the lessee for
rental payments (other than amounts required to be paid on account of taxes, maintenance, repairs,
insurance, assessments, utilities, operating and labor costs and other items which do not
constitute payments for property rights) during the remaining term of the lease included in such
Sale/Leaseback Transaction (including any period for which such lease has been extended). In the
case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount
shall be the lesser of the net amount determined assuming termination upon the first date such
lease may be terminated (in which case the net amount shall also include the amount of the penalty,
but no rent shall be considered as required to be paid under such lease subsequent to the first
date upon which it may be so terminated) or the net amount determined assuming no such termination.

     “Bankruptcy Act” means the Bankruptcy Act or Title 11 of the United States Code, as amended.

     “Bankruptcy Law” shall have the meaning set forth in Section 7.01(a).

     “Board of Directors” means the Company’s Board of Directors or comparable governing body or
any committee thereof duly authorized, with respect to any particular matter, to act by or on
behalf of the Company’s Board of Directors or comparable governing body.

     “Capitalized Lease Obligation” of any Person means any obligation of such Person to pay rent
or other amounts under a lease of property, real or personal, that is required to be accounted for
as a capital lease for financial reporting purposes in accordance with GAAP; and the amount of such
obligation shall be the capitalized amount thereof determined in accordance with GAAP.

     “Company” shall have the meaning set forth in the recitals above.

     “Comparable Treasury Issue” shall have the meaning set forth in Section 3.01(c).

     “Comparable Treasury Price” shall have the meaning set forth in Section 3.01(c).

     “Consolidated Net Tangible Assets” means the total amount of assets (after deducting
applicable reserves and other properly deductible items) less:

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	 	(i)	 	all current liabilities (excluding liabilities that are extendible or renewable
at the Company’s option to a date more than 12 months after the date of calculation and
excluding current maturities of long-term Indebtedness); and
	 
	 	(ii)	 	all goodwill, trade names, trademarks, patents, unamortized debt discount and
expense and other like intangible assets.

The Company will calculate its Consolidated Net Tangible Assets based on its most recent quarterly
balance sheet and in accordance with GAAP.

     “Custodian” shall have the meaning set forth in Section 7.01(a).

     “Entity” means a corporation, limited liability company or business trust (or functional
equivalent of the foregoing under applicable foreign law).

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

     “Event of Default” shall have the meaning set forth in Section 7.01(a).

     “Funded Indebtedness” means all Indebtedness that matures on or is renewable to a date more
than one year after the date the Indebtedness is incurred.

     “GAAP” means United States generally accepted accounting principles and policies consistent
with those applied in the preparation of the Company’s financial statements.

     “Global Note” shall have the meaning set forth in Section 2.06(c).

     “Indebtedness” means:

	 	(i)	 	all indebtedness for borrowed money (whether full or limited recourse);
	 
	 	(ii)	 	all obligations evidenced by bonds, debentures, notes or other similar
instruments;
	 
	 	(iii)	 	all obligations under letters of credit or other similar instruments, other
than standby letters of credit, performance bonds and other obligations issued in the
ordinary course of business, to the extent not drawn or, to the extent drawn, if such
drawing is reimbursed not later than the third Business Day following demand for
reimbursement;
	 
	 	(iv)	 	all obligations to pay the deferred and unpaid purchase price of property or
services, except trade payables and accrued expenses incurred in the ordinary course of
business;
	 
	 	(v)	 	all Capitalized Lease Obligations;
	 
	 	(vi)	 	all Indebtedness of others secured by a Lien on any asset of the Person in
question (provided that if the obligations so secured have not been assumed in full or
are not otherwise fully the Person’s legal liability, then such obligations may be
reduced to the value of the asset or the liability of the Person); or
	 
	 	(vii)	 	all Indebtedness of others (other than endorsements in the ordinary course of
business) guaranteed by the Person in question to the extent of such guarantee.

-3-

 

     “Indenture” shall have the meaning set forth in the recitals above.

     “Interest Payment Date” shall have the meaning set forth in Section 2.04(a).

     “Issue Date” means March 17, 2011, the date on which the Notes were first authenticated and
delivered under the Indenture.

     “Joint Venture” means any partnership, corporation or other entity in which up to and
including 50% of the partnership interests, outstanding voting stock or other equity interests is
owned, directly or indirectly, by the Company and/or one or more Subsidiaries. A Joint Venture is
not treated as a Subsidiary.

     “Lien” means any mortgage, pledge, lien, charge, security interest or similar encumbrance.
The Company or any of its Subsidiaries shall be deemed to own subject to a Lien any asset which it
has acquired or holds subject to the interest of a vendor or lessor under any conditional sale
agreement, Capitalized Lease Obligation or other title retention agreement relating to such asset.

     “Merger Agreement” shall have the meaning set forth in Section 3.02(b).

     “Notes” shall have the meaning set forth in the recitals above.

     “Officers” means the Company’s Chairman of the Board, President, Vice President, Treasurer,
Controller, Secretary, Assistant Treasurer, Assistant Controller and Assistant Secretary.

     “Officers’ Certificate” means a certificate signed by two Officers and delivered to the
Trustee, which certificate shall be in compliance with the Indenture.

     “Optional Redemption Price” shall have the meaning set forth in Section 3.01(a).

     “Pari Passu Indebtedness” means any of the Company’s Indebtedness, whether outstanding on the
Issue Date or thereafter created, incurred or assumed, unless, in the case of any particular
Indebtedness, the instrument creating or evidencing the same or pursuant to which the same is
outstanding expressly provides that such Indebtedness shall be subordinated in right of payment to
the Notes.

     “Permitted Liens” means:

	 	(i)	 	Liens existing on the Issue Date;
	 
	 	(ii)	 	Liens on property or assets of, or any shares of stock of, or other equity
interests in, or Indebtedness of, any Person existing at the time such Person becomes a
Subsidiary of the Company or at the time such Person is merged into or consolidated
with the Company or any of its Subsidiaries or at the time of a sale, lease or other
disposition of the properties of a Person (or a division thereof) as an entirety or
substantially as an entirety to the Company or a Subsidiary, and not incurred in
contemplation of such merger, consolidation, sale, lease or other disposition;
	 
	 	(iii)	 	Liens in favor of the Company or any of its Subsidiaries or Liens securing
debt of a Subsidiary owing to the Company or to another Subsidiary;
	 
	 	(iv)	 	Liens in favor of governmental bodies to secure partial, progress, advance or
other payments or performance pursuant to the provisions of any contract or statute;

-4-

 

	 	(v)	 	Liens securing industrial revenue, pollution control or similar revenue bonds;
	 
	 	(vi)	 	Liens on assets existing at the time of acquisition thereof, securing all or
any portion of the cost of acquiring, constructing, improving, developing, expanding or
repairing such assets or securing Indebtedness incurred prior to, at the time of, or
within 24 months after, the later of the acquisition, the completion of construction,
improvement, development, expansion or repair or the commencement of commercial
operation of such assets, for the purpose of (a) financing all or any part of the
purchase price of such assets or (b) financing all or any part of the cost of
construction, improvement, development, expansion or repair of any such assets;
	 
	 	(vii)	 	statutory liens or landlords’, carriers’, warehouseman’s, mechanics’,
suppliers’, materialmen’s, repairmen’s, maritime or other like Liens arising in the
ordinary course of business and with respect to amounts not yet delinquent or being
contested in good faith by appropriate proceedings;
	 
	 	(viii)	 	Liens in connection with in rem and other legal proceedings, which are being
contested in good faith;
	 
	 	(ix)	 	Liens securing taxes, assessments, government charges or levies not yet due or
delinquent, or which can thereafter be paid without penalty, or which are being
contested in good faith by appropriate proceedings;
	 
	 	(x)	 	Liens on the stock, partnership or other equity interest of the Company or any
Subsidiary in any Joint Venture or any Subsidiary that owns an equity interest in such
Joint Venture to secure Indebtedness, provided the amount of such Indebtedness is
contributed and/or advanced solely to such Joint Venture;
	 
	 	(xi)	 	Liens incurred in the ordinary course of business to secure performance of
tenders, bids or contracts entered into in the ordinary course of business, including
without limitation any rights of offset or liquidated damages, penalties, or other fees
that may be contractually agreed to in conjunction with any tender, bid, or contract
entered into by the Company or any of its Subsidiaries in the ordinary course of
business;
	 
	 	(xii)	 	Liens on current assets of the Company or any of its Subsidiaries securing the
Company’s Indebtedness or Indebtedness of any such Subsidiary, respectively;
	 
	 	(xiii)	 	deposits made in connection with maintaining self-insurance, to obtain the benefits
of laws, regulations or arrangements relating to unemployment insurance, old age
pensions, social security or similar matters or to secure surety, appeal or customs
bonds; and
	 
	 	(xiv)	 	any extensions, substitutions, replacements or renewals in whole or in part of
a Lien enumerated in clauses (i) through (xiii) above, provided that the amount of
Indebtedness secured by such extension, substitution, replacement or renewal shall not
exceed the principal amount of Indebtedness being substituted, extended, replaced or
renewed, together with the amount of any premiums, fees, costs and expenses associated
with such substitution, extension, replacement or renewal, nor shall the pledge,
mortgage or lien be
extended to any additional Principal Property unless otherwise permitted under Section
5.01.

-5-

 

     “Person” means any individual, corporation, partnership, limited liability company, joint
venture, incorporated or unincorporated association, joint stock company, trust, unincorporated
organization or government or other agency or political subdivision thereof or other entity of any
kind.

     “Pride Merger” shall have the meaning set forth in Section 3.02(b).

     “Primary Treasury Dealer” shall have the meaning set forth in Section 3.01(c).

     “Principal Property” means any drilling rig or drillship, or integral portion thereof, owned
or leased by the Company or any Subsidiary and used for drilling offshore oil and gas wells, which,
in the opinion of the Board of Directors, is of material importance to the business of the Company
and its Subsidiaries taken as a whole, but no such drilling rig or drillship, or portion thereof,
shall be deemed of material importance if its net book value (after deducting accumulated
depreciation) is less than 2% of Consolidated Net Tangible Assets.

     “Quotation Agent” shall have the meaning set forth in Section 3.01(c).

     “Reference Treasury Dealer” shall have the meaning set forth in Section 3.01(c).

     “Reference Treasury Dealer Quotations” shall have the meaning set forth in Section 3.01(c).

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and its successors.

     “Sale/Leaseback Transaction” means any arrangement with any Person pursuant to which the
Company or any Subsidiary leases any Principal Property that has been or is to be sold or
transferred by the Company or the Subsidiary to such Person, other than (1) temporary leases for a
term, including renewals at the option of the lessee, of not more than five years; (2) leases
between the Company and a Subsidiary or between Subsidiaries; and (3) leases of Principal Property
executed by the time of, or within 12 months after the latest of, the acquisition, the completion
of construction, alteration, improvement or repair, or the commencement of commercial operation, of
the Principal Property.

     “Special Mandatory Redemption Date” shall have the meaning set forth in Section 3.02(b).

     “Special Mandatory Redemption Price” shall have the meaning set forth in Section 3.02(b).

     “Subsidiary” means a Person at least a majority of the outstanding Voting Stock of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the
Company and one or more other Subsidiaries. A Joint Venture is not treated as a Subsidiary.

     “Supplemental Indenture” shall have the meaning set forth in the recitals above.

     “Tax Jurisdiction” shall have the meaning set forth in Section 4.01(a).

     “Taxes” shall have the meaning set forth in Section 4.01(a).

     “Treasury Rate” shall have the meaning set forth in Section 3.01(c).

     “Trustee” shall have the meaning set forth in the recitals above.

-6-

 

     “Voting Stock” means, with respect to any Person, securities of any class or classes of
capital stock of such Person entitling the holders thereof (whether at all times or at the times
that such class of capital stock has voting power by reason of the happening of any contingency) to
vote in the election of members of the board of directors or comparable body of such Person.

     “Wholly Owned Subsidiary” means, with respect to a Person, any Subsidiary of that Person to
the extent:

	 	(i)	 	all of the Voting Stock of such Subsidiary, other than any director’s
qualifying shares mandated by applicable law, is owned directly or indirectly by such
Person; or
	 
	 	(ii)	 	such Subsidiary is organized in a foreign jurisdiction and is required by the
applicable laws and regulations of such foreign jurisdiction to be partially owned by
another Person, if such Person:

	 	(a)	 	directly or indirectly owns the remaining capital stock of such
Subsidiary; and
	 
	 	(b)	 	by contract or otherwise, controls the management and business of
such Subsidiary and derives the economic benefits of ownership of such Subsidiary
to substantially the same extent as if such Subsidiary were a Wholly Owned
Subsidiary.

ARTICLE 2

TERMS AND CONDITIONS OF THE NOTES

     Section 2.01. Designation and Principal Amount.

     (a) 3.250% Senior Notes due 2016.

     There is hereby authorized a series of Securities designated the “3.250% Senior Notes due
2016” initially offered in the aggregate principal amount of $1,000,000,000, which amount shall be
as set forth in a Company Order for the authentication and delivery of such Notes pursuant to
Section 303 of the Indenture.

     (b) 4.700% Senior Notes due 2021.

     There is hereby authorized a series of Securities designated the “4.700% Senior Notes due
2021” initially offered in the aggregate principal amount of $1,500,000,000, which amount shall be
as set forth in a Company Order for the authentication and delivery of such Notes pursuant to
Section 303 of the Indenture.

     Section 2.02. Original Issue of Notes; Further Issuances.

     (a) 2016 Notes having an aggregate principal amount of $1,000,000,000 and 2021 Notes having an
aggregate principal amount of $1,500,000,000 may, upon execution of this Supplemental Indenture, be
executed by the Company and delivered to the Trustee for authentication, and the Trustee
shall thereupon authenticate and deliver said Notes to or upon a Company Order, signed by its
Chairman, its Vice Chairman, its President, or any Vice President and by its Treasurer, an
Assistant Treasurer, its Secretary or any Assistant Secretary, without any further action by the
Company, except as otherwise required by the Indenture.

-7-

 

     (b) The Company may, without notice to or the consent of the Holders of the 2016 Notes or the
2021 Notes, issue additional notes of such series having identical terms and conditions as the
respective series of Notes, except for Issue Date, issue price and first Interest Payment Date, in
an unlimited aggregate principal amount. Any such additional notes will be part of the same series
as the 2016 Notes or 2021 Notes, as applicable, and will be treated as one class with such
respective series of Notes, including, without limitation, for purposes of voting and redemptions.

     Section 2.03. Maturity. The 2016 Notes will mature on March 15, 2016, and the 2021 Notes will mature on March 15,
2021.

     Section 2.04. Interest.

     (a) The 2016 Notes will bear interest at the rate of 3.250% per annum, and the 2021 Notes will
bear interest at the rate of 4.700% per annum, from the most recent Interest Payment Date to which
interest has been paid or duly provided for or, if no interest has been paid, from the Issue Date
until the principal thereof becomes due and payable, payable semi-annually in arrears on March 15
and September 15 of each year (each, an “Interest Payment Date”), commencing on September 15, 2011,
to the Person in whose name such Note or any Predecessor Security is registered, at the close of
business on the Regular Record Date for such interest installment, which shall be the close of
business on March 1 or September 1 (whether or not a Business Day), as the case may be, immediately
preceding such Interest Payment Date, and at the foregoing respective rates on overdue principal.

     (b) The amount of interest payable for any period less than a full interest period will be
computed on the basis of a 360-day year of twelve 30-day months and the actual days elapsed in a
partial month in such period. In the event that any date on which interest is payable on the Notes
is not a Business Day, then payment of the interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or other payment in respect of any
such delay) with the same force and effect as if made on the date such payment was originally
payable.

     Section 2.05. Place of Payment. The Place of Payment where Notes may be presented or surrendered for payment, where Notes
may be surrendered for registration of transfer or exchange and where notices and demands to or
upon the Company in respect of the Notes and the Indenture may be served initially is the Corporate
Trust Office of the Trustee.

     Section 2.06. Form; Denomination.

     (a) The 2016 Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are
to be substantially in the form of Exhibit A hereto.

     (b) The 2021 Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are
to be substantially in the form of Exhibit B hereto.

     (c) The 2016 Notes and the 2021 Notes shall each be issued initially in the form of one or
more permanent Global Notes in registered form, without coupons, substantially in the form herein
below recited (each, a “Global Note” and collectively, the “Global Notes”), deposited with the
Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the
Trustee as herein provided.

     The aggregate principal amount of each Global Note may from time to time be increased or
decreased by adjustments made on the records of the Trustee, as custodian for the Depositary or its
nominee, as provided in Section 203 of the Indenture.

-8-

 

     (d) The Notes shall be issuable only in registered form, without coupons, in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. The Notes shall be numbered, lettered,
or otherwise distinguished in such manner or in accordance with such plans as the officers of the
Company executing the same may determine with the approval of the Trustee.

     Section 2.07. Legend. Each Global Note shall bear the following legend on the face thereof:

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

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

     Section 2.08. Special Transfer Provisions.

     (a) A Global Note may be transferred, in whole but not in part, only to the Depositary, to a
nominee of the Depositary, or to a successor Depositary selected or approved by the Company or to a
nominee of such successor Depositary.

     (b) If at any time the Depositary for a series of Notes notifies the Company that it is
unwilling or unable to continue as Depositary or if at any time the Depositary for such series
shall no
longer be registered or in good standing under the Exchange Act or other applicable statute or
regulation, and a successor Depositary for such series is not appointed by the Company within 90
days after the Company receives such notice or becomes aware of such condition, as the case may be,
the Company will execute, and, subject to Article III of the Indenture, the Trustee, upon written
notice from the Company, will authenticate and make available for delivery the Notes of such series
in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Note for such series in exchange for
the Global Note for such series. In addition, the Company may (subject to the procedures of the
Depositary) at any time determine that the Notes of such series shall no longer be represented by a
Global Note. In such event the Company will execute, and subject to Section 305 of the Indenture,
the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company,
will authenticate and deliver the Notes of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount equal to the principal
amount of the Global Note for such series in exchange for the Global Note for such series. Upon
the exchange of the Global Note for the Notes of such series in definitive registered form without
coupons, in authorized denominations, the Global Note for such series shall be cancelled by the
Trustee. Such Notes in definitive registered form issued in exchange for the Global Note for such
series shall be registered in such names and in such authorized denominations as the Depositary,
pursuant

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to instructions from its direct or indirect participants or otherwise, shall instruct the
Trustee. The Trustee shall deliver such Notes to the Depositary for delivery to the Persons in
whose names such Notes are so registered. Notes of either series represented by Global Notes will
be exchangeable for Notes in definitive registered form if an Event of Default shall have occurred
and be continuing.

     Section 2.09. Depositary. The Depository Trust Company shall be the initial Depositary, until a successor shall have
been appointed and become such pursuant to the applicable provisions of this Indenture, and
thereafter, “Depositary” shall mean or include such successor.

ARTICLE 3

REDEMPTION OF THE NOTES

     Section 3.01. Optional Redemption by Company.

     (a) Subject to Article XI of the Indenture, the Company shall have the right to redeem the
2016 Notes or the 2021 Notes, in whole or in part, at any time or from time to time, at a
redemption price (the “Optional Redemption Price”) equal to the greater of:

     (i) 100% of the principal amount of the Notes being redeemed; and

     (ii) the sum of the present values of the remaining scheduled payments of principal and
interest thereon (not including any portion of such payments of interest accrued as of the
Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below),
plus 20 basis points in the case of the 2016 Notes and plus 25 basis points in the case of
the 2021 Notes,

plus, in each case, accrued interest thereon to the Redemption Date. Notwithstanding the
foregoing, installments of interest on a series of Notes being redeemed that are due and payable on
Interest Payment Dates falling on or prior to a Redemption Date will be payable on the Interest
Payment Date to the
registered Holders as of the close of business on the relevant record date according to such series
of Notes and the Indenture.

     Notice of any redemption pursuant to the preceding paragraph will be mailed at least 30 days
but not more than 60 days before the Redemption Date to each Holder of the Notes (with a copy to
the Trustee) of the series of Notes to be redeemed. Unless the Company defaults in payment of the
Optional Redemption Price, on and after the Redemption Date, interest will cease to accrue on the
series of Notes or portions thereof called for redemption. If less than all of a series of the
Notes are to be redeemed, the Notes to be redeemed shall be selected by lot by the Depositary, in
the case of Notes represented by a Global Note, or by the Trustee by a method the Trustee deems to
be fair and appropriate and in accordance with the procedures of the Depositary, in the case of
Notes that are not represented by a Global Note. The Optional Redemption Price shall be paid prior
to 10:00 a.m., New York time, on the date of such redemption or at such earlier time as the Company
determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay
the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption
Price is to be paid.

     (b) Notice of any redemption pursuant to this Section 3.01 shall be given as provided in
Section 1104 of the Indenture except that any notice of such redemption shall not specify the
related Optional Redemption Price but only the manner of calculation thereof. The Trustee shall
not be responsible for the calculation of such Optional Redemption Price. The Company shall
calculate such Optional Redemption Price and promptly notify the Trustee thereof.

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     (c) The following terms have the meanings given to them in this Section 3.01(c):

     “Comparable Treasury Issue” means the United States Treasury security selected by the
Quotation Agent as having a maturity comparable to the remaining term of the series of Notes
to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average
of three Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Company is
given fewer than five such Reference Treasury Dealer Quotations, the average of all such
quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such
quotation.

     “Quotation Agent” means the Reference Treasury Dealer appointed by the Company.

     “Reference Treasury Dealer” means each of Citigroup Global Markets Inc., Deutsche Bank
Securities Inc. (or their respective affiliates that are Primary Treasury Dealers), and a
Primary Treasury Dealer selected by Wells Fargo Securities, LLC and their respective
successors and three other nationally recognized investment banking firms that are primary
U.S. Government securities dealers specified from time to time by the Company; provided,
however, that if any of the foregoing shall cease to be a primary U.S. Government securities
dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor
another Primary Treasury Dealer.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Company of the bid and
asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of
its
principal amount) quoted in writing to the Company by such Reference Treasury Dealer at
5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a
price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date.

     Section 3.02. Special Mandatory Redemption.

     (a) In the event that, for any reason, (i) the Company does not consummate the Pride Merger
prior to 5:00 p.m., New York City time, on February 3, 2012, (ii) the Merger Agreement is
terminated at any time before such time but after the date which is six months after the Issue Date
or (iii) the Merger Agreement is terminated at any time on or before the date which is six months
after the Issue Date, the Company shall redeem all of the Notes on the Special Mandatory Redemption
Date at the Special Mandatory Redemption Price. Notice of such redemption shall be mailed, with a
copy to the Trustee, within five days after the occurrence of the event triggering redemption to
each Holder of Notes at its registered address in accordance with Section 1104 of the Indenture.
If funds sufficient to pay the Special Mandatory Redemption Price of all of the Notes to be
redeemed on the Special Mandatory Redemption Date are deposited with the Paying Agent on or before
the Special Mandatory Redemption Date, on and after the Special Mandatory Redemption Date, the
Notes shall cease to bear interest and, other than the

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right to receive the Special Mandatory
Redemption Price, all rights under the Notes of each series shall terminate.

     (b) The following terms have the meanings given to them in this Section 3.02(b):

     “Pride Merger” means the acquisition of Pride International, Inc. by the Company
pursuant to the Merger Agreement.

     “Merger Agreement” means that certain Agreement and Plan of Merger dated as of February
6, 2011 by and among the Company, a newly-formed limited liability company and wholly-owned
subsidiary of the Company, ENSCO International Incorporated, a wholly-owned subsidiary of
the Company, and Pride International, Inc.

     “Special Mandatory Redemption Date” means the earlier to occur of (1) March 9, 2012, if
the Pride Merger has not been consummated prior to 5:00 p.m., New York City time, on
February 3, 2012, or (2) the 35th day (or if such day is not a Business Day, the first
Business Day thereafter) following the termination of the Merger Agreement for any reason.

     “Special Mandatory Redemption Price” means, in the case of Section 3.02(a)(i) or (ii),
102% of the aggregate principal amount of the Notes, and in the case of Section
3.02(a)(iii), 101% of the aggregate principal amount of the Notes, in each case, together
with accrued and unpaid interest from the Issue Date to but excluding the Special Mandatory
Redemption Date.

     Section 3.03. Optional Redemption by Company Due to Certain Tax Changes.

     (a) The Company may redeem the Notes, in whole but not in part, at its option upon giving not
less than 30 nor more than 60 days’ prior written notice to the Trustee and the Holders of the
Notes, at a redemption price equal to 100% of the aggregate principal amount thereof, together with
accrued and unpaid interest, if any, to the Redemption Date and all Additional Amounts, if any,
which otherwise would be payable, if on the next date on which any amount would be payable in
respect of the Notes, the Company would be required to pay Additional Amounts, and the Company
cannot avoid any such payment obligation by taking reasonable measures available to it, as a result
of:

     (i) any amendment to, or change in, the laws, tax treaties or any regulations or
rulings promulgated thereunder of a relevant Tax Jurisdiction which is announced and becomes
effective after March 8, 2011 (or, if the applicable Tax Jurisdiction became a Tax
Jurisdiction on a date after March 8, 2011, such later date); or

     (ii) any amendment to, or change in, an official interpretation or application
regarding such laws, tax treaties, regulations or rulings, including by virtue of a holding,
judgment or order by a court of competent jurisdiction which is announced and becomes
effective after March 8, 2011 (or, if the applicable Tax Jurisdiction became a Tax
Jurisdiction on a date after March 8, 2011, such later date).

     (b) The Company will not give any such notice of redemption earlier than 90 days prior to the
earliest date on which the Company would be obligated to pay Additional Amounts or more than 365
days after the applicable law change takes effect, and, at the time such notice is given, the
obligation to pay Additional Amounts must remain in effect.

     Section 3.04. No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund.

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ARTICLE 4

ADDITIONAL AMOUNTS

     Section 4.01. Additional Amounts.

     (a) All payments made under or with respect to the Notes will be made free and clear of and
without withholding or deduction for, or on account of, any present or future tax, duty, levy,
impost, assessment or other governmental charge (including penalties, interest, additions to tax
and other liabilities related thereto) (collectively, “Taxes”) unless the withholding or deduction
of such Taxes is then required by law. If any deduction or withholding for, or on account of, any
Taxes imposed or levied by or on behalf of (1) any jurisdiction in which the Company is organized,
resident or doing business for tax purposes or any department or political subdivision thereof or
therein or (2) any jurisdiction from or through which payment is made by the Company or the Paying
Agent or any department or political subdivision thereof or therein (each, a “Tax Jurisdiction”)
will at any time be required to be made from any payments made under or with respect to the Notes,
including payments of principal, redemption price, interest or premium, the Company will pay such
additional amounts (the “Additional Amounts”) as may be necessary in order that the net amounts
received in respect of such payments by each Holder of the Notes after such withholding or
deduction (including any such deduction or withholding in respect of Additional Amounts) will equal
the respective amounts which would have been received in respect of such payments in the absence of
such withholding or deduction; provided, however, that no Additional Amounts will be payable with
respect to:

     (i) any Taxes, to the extent such Taxes would not have been imposed but for the
existence of any present or former connection between the Holder or the beneficial owner of
the Notes and the relevant Tax Jurisdiction (other than any connection arising solely from
the acquisition, ownership, holding or disposition of the Notes, the enforcement of rights
under the Notes and/or the receipt of any payments in respect of the Notes);

     (ii) any Taxes, to the extent such Taxes would not have been imposed but for the
failure of the Holder or the beneficial owner of the Notes to comply with any certification,
identification, information, documentation, or other reporting requirements, including an
application for relief under an applicable double tax treaty, whether required by statute,
treaty, regulation or administrative practice of a Tax Jurisdiction, as a precondition to
exemption from, or reduction in the rate of deduction or withholding of, Taxes imposed by
the Tax Jurisdiction (including, without limitation, a certification that the Holder or
beneficial owner of the Notes is not resident in the Tax Jurisdiction or is a resident of an
applicable tax treaty jurisdiction), but in each case, only to the extent the Holder or the
beneficial owner of the Notes is legally eligible to provide such certification or
documentation; provided, however, that in the event of an amendment to, or change in, any
laws, Tax treaties, regulations or rulings (or any official administrative or judicial
interpretation thereof), this paragraph (2) will apply only if the Company notifies the
Trustee, at least 30 days before any such withholding or deduction would be payable, that
Holders or beneficial owners of the Notes must comply with such certification,
identification, information, documentation or other reporting requirements;

     (iii) any Taxes, to the extent such Taxes were imposed as a result of the presentation
of a Note for payment (where presentation is required) more than 30 days after the relevant
payment is first made available for payment to the Holder of such Note (except to the extent
that such Holder would have been entitled to Additional Amounts had the Note been presented
on the last day of such 30 day period);

     (iv) any estate, inheritance, gift, transfer, personal property or similar Tax;

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     (v) any Taxes payable otherwise than by deduction or withholding from payments made
under or with respect to the Notes;

     (vi) any Taxes required to be withheld in respect of a payment of interest to an
individual pursuant to the European Union Directive on the Taxation of Savings Income in the
form of Interest Payments (Directive 2003/48/EC) on the taxation of savings income or any
law implementing or complying with, or introduced in order to conform to, such Directive;

     (vii) any Taxes required to be withheld in respect of a payment of interest in respect
of Notes presented for payment by or on behalf of a Holder of the Notes who would be able to
avoid such withholding or deduction by presenting the relevant Note to another Paying Agent
in a Member State of the European Union; or

     (viii) any combination of the above items.

     The Company also will not pay any Additional Amounts to any Holder of the Notes who is a
fiduciary or partnership or other than the sole beneficial owner of the Notes to the extent that
the obligation to pay Additional Amounts would be reduced or eliminated by transferring the Notes
in question to the sole beneficial owner, but only if there is no material commercial or legal
impediment to, or material cost associated with, transferring the Notes to the sole beneficial
owner.

     In addition to the foregoing, the Company will also pay and indemnify the Holder of the Notes
for any present or future stamp, issue, registration, transfer, court or documentary taxes, or any
other excise or property taxes, charges or similar levies (including penalties, interest, additions
to tax and other liabilities related thereto) which are levied by any Tax Jurisdiction on the
execution, delivery, issuance, or registration of any of the Notes, the Indenture or any other
document or instrument referred to therein, or the receipt of any payments with respect to, or
enforcement of, the Notes.

     (b) If the Company becomes aware that it will be obligated to pay Additional Amounts with
respect to any payment under or with respect to the Notes, the Company will deliver to the Trustee
on a date which is at least 30 days prior to the date of that payment (unless the obligation to pay
Additional Amounts arises after the 30th day prior to that payment date, in which case the Company
shall notify the Trustee promptly thereafter) notice stating the fact that Additional Amounts will
be payable and the amount estimated to be so payable. The notice must also set forth any other
information reasonably necessary to enable the Paying Agent to pay Additional Amounts to Holders of
the Notes on the relevant payment date. The Company will provide the Trustee with documentation
reasonably satisfactory to the Trustee evidencing the payment of Additional Amounts.

     (c) The Company will timely make all withholdings and deductions required by law and will
remit the full amount deducted or withheld to the relevant Tax authority in accordance with
applicable law. The Company will furnish to the Trustee (or to a Holder of the Notes upon
request), within a reasonable time after the date the payment of any Taxes so deducted or withheld
is made, certified copies of Tax receipts evidencing payment by the Company, or if receipts are not
reasonably available, other evidence of payment reasonably satisfactory to the Trustee.

     (d) Whenever in the Indenture there is mentioned, in any context, the payment of amounts based
upon the principal amount of the Notes or of principal, interest or of any other amount payable
under, or with respect to, any of the Notes such mention shall be deemed to include the payment to
the Paying Agent of Additional Amounts, if applicable.

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     (e) This Section 4.01 will survive any termination, defeasance or discharge of the Indenture
and will apply, mutatis mutandis, to any jurisdiction in which any successor Person to the Company
is organized, resident or doing business for tax purposes or any jurisdiction from or through which
such Person or its Paying Agent makes any payment on the Notes and, in each case, any department or
political subdivision thereof or therein.

ARTICLE 5

COVENANTS

     The following covenants will apply to the Notes in addition to the covenants in Article X of
the Indenture:

     Section 5.01. Limitation on Liens.

     (a) The Company will not, and will not permit any of its Subsidiaries to, incur, issue or
assume any Indebtedness for borrowed money secured by any Lien upon any Principal Property or any
shares of stock or Indebtedness of any Subsidiary that owns or leases a Principal Property (whether
such Principal Property, shares of stock or Indebtedness are now owned or hereafter acquired)
without making effective provision whereby the Notes (together with, if the Company so determines,
any other Indebtedness or other obligation of the Company or any Subsidiary) shall be secured
equally and ratably
with (or, at the option of the Company, prior to) the Indebtedness so secured by a Lien on the
same assets of the Company or such Subsidiary, as the case may be, for so long as such Indebtedness
is so secured. The foregoing restrictions will not, however, apply to Indebtedness secured by
Permitted Liens.

     (b) Notwithstanding the foregoing, the Company and its Subsidiaries may, without securing the
Notes, incur, issue or assume Indebtedness that would otherwise be subject to the foregoing
restrictions in an aggregate principal amount that, together with all other such Indebtedness of
the Company and its Subsidiaries that would otherwise be subject to the foregoing restrictions (not
including Indebtedness permitted to be secured under the definition of Permitted Liens) and the
aggregate amount of Attributable Indebtedness deemed outstanding with respect to Sale/Leaseback
Transactions (other than Sale/Leaseback Transactions in connection with which the Company has
voluntarily retired any of the Notes, any Pari Passu Indebtedness or any Funded Indebtedness
pursuant to Section 5.02(b)(iii)(x)) does not at any one time exceed 15% of Consolidated Net
Tangible Assets.

     (c) For purposes of this Section 5.01, if at the time any Indebtedness is incurred, issued or
assumed, such Indebtedness is unsecured but is later secured by a Lien, such Indebtedness shall be
deemed to be incurred at the time that such Indebtedness is so secured by a Lien.

     Section 5.02. Limitation on Sale/Leaseback Transactions.

     (a) So long as the Notes are outstanding, the Company will not, and the Company will not
permit any Subsidiary to, sell or transfer (other than to the Company or a Wholly-Owned Subsidiary)
any Principal Property, whether owned at the date of the Indenture or thereafter acquired, which
has been in full operation for more than 120 days prior to such sale or transfer, with the
intention of entering into a lease of such Principal Property (except for a lease for a term,
including any renewal thereof, of not more than three years), if after giving effect thereto the
Attributable Indebtedness in respect of all such sale and leaseback transactions involving
Principal Properties shall be in excess of 15% of Consolidated Net Tangible Assets.

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     (b) Notwithstanding the foregoing, the Company or any Subsidiary may sell any Principal
Property and lease it back if the net proceeds of such sale are at least equal to the fair value of
such property as determined by the Board of Directors and,

     (i) the Company or such Subsidiary would be entitled to incur Indebtedness in a
principal amount equal to the Attributable Indebtedness with respect to such Sale/Leaseback
Transaction secured by a Lien on the property subject to such Sale/Leaseback Transaction
pursuant to Section 5.01 without equally and ratably securing the Notes pursuant to such
Section;

     (ii) after Issue Date and within a period commencing nine months prior to the
consummation of such Sale/Leaseback Transaction and ending nine months after the
consummation thereof, the Company or such Subsidiary shall have expended for property used
or to be used in the ordinary course of its business and that of its Subsidiaries an amount
equal to all or a portion of the net proceeds of such Sale/Leaseback Transaction and the
Company shall have elected to designate such amount as a credit against such Sale/Leaseback
Transaction (with any such amount not being so designated to be applied as set forth in
clause (iii) below or as otherwise permitted); or

     (iii) the Company, during the nine-month period after the effective date of such
Sale/Leaseback Transaction, shall have applied to either (x) the voluntary defeasance or
retirement of any Notes, any Pari Passu Indebtedness or any Funded Indebtedness or (y)
the acquisition of one or more Principal Properties at fair value, an amount equal to the
greater of the net proceeds of the sale or transfer of the property leased in such
Sale/Leaseback Transaction and the fair value, as determined by the Board of Directors, of
such property as of the time of entering into such Sale/Leaseback Transaction (in either
case adjusted to reflect the remaining term of the lease and any amount expended by the
Company as set forth in the preceding clause (ii)), less an amount equal to the sum of the
principal amount of Notes, Pari Passu Indebtedness and Funded Indebtedness voluntarily
defeased or retired by the Company plus any amount expended to acquire any Principal
Properties at fair value, within such nine month period and not designated as a credit
against any other Sale/Leaseback Transaction entered into by the Company or any of its
Subsidiaries during such period.

     Section 5.03. Reports by Company.

     With respect to the Notes, Section 704 of the Indenture shall be replaced in its entirety with
the following:

     SECTION 704. REPORTS BY COMPANY.

     The Company shall comply with Section 314(a) of the Trust Indenture Act.

ARTICLE 6

CONSOLIDATION, MERGER AND SALE OF ASSETS

     Section 6.01. Consolidation, Merger and Sale of Assets. With respect to the Notes, Section 801 of the Indenture shall be replaced in its entirety
with the following:

     SECTION 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.

     (a) The Company will not, directly or indirectly, in any transaction or series of related
transactions: (1) consolidate or merge with or into another Person (whether or not the Company is
the

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surviving Person); (2) sell, assign, transfer, convey or otherwise dispose of all or
substantially all of the Company’s and its Subsidiaries’ properties or assets taken as a whole; or
(3) assign any of the Company’s obligations under the Notes and the Indenture, in one or more
related transactions, to another Person; unless:

     (i) either: (A) the Company is the surviving or continuing Person; or (B) the Person
formed by, surviving or continued by any such consolidation, amalgamation or merger (if
other than the Company) or the Person to which such sale, assignment, transfer, conveyance
or other disposition shall have been made is an Entity, validly organized and existing in
good standing (to the extent the concept of good standing is applicable) under the laws of
any state of the United States, the District of Columbia, the Cayman Islands, Bermuda,
Switzerland, the United Kingdom, the Kingdom of the Netherlands, the Grand Duchy of
Luxembourg, Ireland, or any other member country of the European Union;

     (ii) the Person formed by, surviving or continued by any such consolidation,
amalgamation or merger (if other than the Company) or the Person to which such sale,
assignment, transfer, conveyance or other disposition shall have been made assumes all
of the Company’s obligations under the Notes and the Indenture;

     (iii) immediately after such transaction no Default or Event of Default exists; and

     (iv) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such merger, consolidation, amalgamation or sale,
assignment, transfer, conveyance or other disposition of such properties or assets or
assignment of the Company’s obligations under the Notes and the Indenture, comply with the
Indenture.

     (b) 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.

     (c) Notwithstanding the foregoing, the limitations described above shall not apply to a sale,
assignment, transfer, conveyance or other disposition of assets between or among the Company and
any of its Wholly-Owned Subsidiaries.

ARTICLE 7

EVENTS OF DEFAULT

     Section 7.01. Events of Default. With respect to the Notes, Sections 501 and 502 of the Indenture shall be replaced in their
entirety with the following:

     SECTION 501. EVENTS OF DEFAULT.

     (a) An “Event of Default” on a series of Notes occurs if:

     (i) the Company defaults in the payment of interest on any Note of such series when the
same becomes due and payable and the Default continues for a period of 30 days;

     (ii) the Company defaults in the payment of the principal of any Note of such series
when the same becomes due and payable at maturity, upon redemption or otherwise;

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     (iii) the Company fails to comply with any of its other agreements in the Notes of such
series or the Indenture (as they relate thereto), which shall not have been remedied within
the specified period after written notice, as specified below;

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

     (A) commence a voluntary case,

     (B) consent to the entry of an order for relief against the Company in an
involuntary case,

     (C) consent to the appointment of a Custodian of the Company for all or
substantially all of the property of the Company, or

     (D) make a general assignment for the benefit of creditors;

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

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

     (B) appoints a Custodian of the Company or substantially all of the property of
the Company, or

     (C) orders the liquidation of the Company,

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

     (vi) the Company fails to redeem the Notes in accordance with Section 3.02 on the
Special Mandatory Redemption Date.

     The term “Bankruptcy Law” means the Bankruptcy Act 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.

     (b) If any Event of Default (other than an Event of Default specified in clause (iv) or (v)
above) with respect to Notes of any series occurs and is continuing, either the Trustee or the
Holders of at least 25% in principal amount of the then outstanding Notes of that series may
declare all the Notes of that series to be due and payable immediately. Upon any such declaration,
the Notes of that series shall become due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by Holders of the Notes). Notwithstanding the foregoing, if
an Event of Default specified in clause (iv) or (v) above hereof occurs, all outstanding Notes
shall become due and payable without further action or notice.

     (c) Notwithstanding the foregoing, a Default under Section 501(a)(iii) is not an Event of
Default until the Trustee notifies the Company, or the Holders of at least 25% in principal amount
of the then outstanding Notes of the series affected by such Default notify the Company and the
Trustee, of the Default, and the Company fails to cure the Default within 90 days after receipt of
the notice. The notice must specify the Default, demand that it be remedied and state that the
notice is a “Notice of Default.”

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     (d) Holders of not less than a majority in aggregate principal amount of the then outstanding
Notes in any series by notice to the Trustee may on behalf of the Holders of all of the Notes of
that series waive any existing Default or Event of Default 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, the Notes of that series (including in connection with an offer to purchase)
(provided, however, that the Holders of a majority in aggregate principal amount of the then
outstanding Notes of any series may rescind an acceleration and its consequences, including any
related payment Default that resulted from such acceleration, with respect to that series). 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 the Indenture; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent thereon.

     SECTION 502. RESERVED.

ARTICLE 8

PATRIOT ACT; FORCE MAJEURE

     Section 8.01. Patriot Act; Force Majeure. With respect to the Notes, Article XIV shall be added to the Indenture as follows:

ARTICLE FOURTEEN

PATRIOT ACT; FORCE MAJEURE

     SECTION 1401. PATRIOT ACT.

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

     SECTION 1402. FORCE MAJEURE.

     The Trustee shall not incur any liability for not performing any act or fulfilling any duty,
obligation or responsibility hereunder by reason of any occurrence beyond the control of the
Trustee (including but not limited to any act or provision of any present or future law or
regulation or governmental authority, any act of God or war, civil unrest, local or national
disturbance or disaster, any act of terrorism or the unavailability of the Federal Reserve Bank
wire or facsimile or other wire or communication facility).

ARTICLE 9

MISCELLANEOUS

     Section 9.01. Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified
and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner
and to the extent herein and therein provided.

     Section 9.02. Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the
Trustee assumes no responsibility for the correctness

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thereof. The Trustee makes no representation
as to the validity or sufficiency of this Supplemental Indenture.

     Section 9.03. Governing Law. This Supplemental Indenture and the Notes shall be governed by and construed in accordance
with the laws of the State of New York without regard to conflicts of laws.

     Section 9.04. Separability. In case any one or more of the provisions contained in this Supplemental Indenture or in
the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provisions of this
Supplemental Indenture or of the Notes, but this Supplemental Indenture and the Notes shall be
construed as if such invalid or illegal or unenforceable provision had never been contained herein
or therein.

     Section 9.05. Counterparts. This Supplemental Indenture may be executed in any number of counterparts each of which
shall be an original; but such counterparts shall together constitute but one and the same
instrument.

     Section 9.06. Submission to Jurisdiction; Appointment of Agent for Service of Process. By the execution and delivery of this Supplemental Indenture, the Company hereby appoints
ENSCO International Incorporated, a Delaware corporation, as its agent upon which process may be
served in any legal action or proceeding by the Trustee or by any Holder arising out of or relating
to the Notes, this Supplemental Indenture or the Indenture (but for that purposes only), which may
be instituted in any Federal or State court in the Borough of Manhattan, the City of New York, and
the Company hereby irrevocably submits to the non-exclusive jurisdiction of any such court in
respect of any such legal action or proceeding. Service of process upon such agent at the address
set forth above, as such address may be changed by written notice given by such agent to the
Trustee, together with a written notice of such service mailed or delivered to the Company
addressed as provided by Section 106 of the Indenture, shall be deemed in every respect effective
service of process upon the Company in any such legal action or proceeding. The Company reserves
the right to appoint another Person selected in its discretion as a successor agent, and upon
acceptance of such appointment by such a successor, the appointment of the prior agent shall
terminate. The Company further agrees to take any and all action, including the execution and
filing of any and all such documents and instruments, as may be necessary to continue such
designation and appointment of such agent or successor in full force and effect until this
Supplemental Indenture has been satisfied or discharged in accordance with Article IV of the
Indenture.

-20-

 

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

	 	 	 	 	 
	 	ENSCO PLC

 	 
	 	By:  	
/s/ Daniel W. Rabun  	 
	 	 	Name:  	Daniel W. Rabun  	 
	 	 	Title:  	Chairman, President and Chief Executive Officer	 
	 

	 	 	 	 	 

	Attest:
	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ H. E. Malone, Jr.	 	 
	 

	 	 
 H. E. Malone, Jr.

Vice President  and Assistant Secretary
	 	 

	 	 	 	 	 

	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as

Trustee
	 
	 	 	 	 
	 

	 	By:
	 	Deutsche Bank National Trust Company
	 
	 	 	 	 
	 

	 	By:	 	/s/ Irina Golovashchuk
	 

	 	 	 	 
	 

	 	 	 	Name: Irina Golovashchuk
	 

	 	 	 	Title: Assistant Vice President
	 
	 	 	 	 
	 

	 	By:	 	/s/ David Contino
	 

	 	 	 	 
	 

	 	 	 	Name: David Contino
	 

	 	 	 	Title: Vice President

 

 

Exhibit A

(FORM OF FACE OF NOTE)

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

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

			
	 	 	 
	No. [     ]
	 	CUSIP No. 29358Q AB5

ENSCO PLC

3.250% SENIOR NOTE DUE 2016

     ENSCO PLC, a public limited company organized under the laws of England and Wales (the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred
to), for value received, hereby promises to pay to [X] or registered assigns, the principal sum of
[X] ($[X]) [or such other sum as is set forth in the Schedule of Increases or Decreases of Global
Note attached hereto]b on March 15, 2016, and to pay interest on said principal sum
semi-annually in arrears on March 15 and September 15 of each year (each such date, an “Interest
Payment Date”) commencing September 15, 2011, at the rate of 3.250% per annum from the most recent
Interest Payment Date to which interest has been paid or duly provided for or, if no interest has
been paid, from the Issue Date until the principal hereof shall have become due and payable, and at
such rate on any overdue principal. The amount of interest payable for any period less than a full
interest period will be computed on the basis of a 360-day year of twelve 30-day months and the
actual days elapsed in a partial month in such period. In the event that any date on which
interest is payable on the Notes of this series is not a Business Day, then payment of the interest
payable on such date will be made on the next succeeding day which is a Business Day (and without
any interest or other payment in respect of any such delay) with the same force and effect as if
made on the date such payment was originally payable.

 

			
	a	 	Insert in Global Notes only
	 
	b	 	Insert in Global Notes only

A-1

 

     The interest installment so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or
one or more Predecessor Securities, as defined in said Indenture) is registered at the close of
business on the Regular Record Date for such interest installment, which shall be the close of
business on the March 1 or September 1 (whether or not a Business Day), as the case may be,
immediately preceding such Interest Payment Date. Any such interest installment not punctually
paid or duly provided for shall forthwith cease to be payable to the registered Holders on such
Regular Record Date and may be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a special record date to be fixed
by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the
registered Holders of the Notes of this series not less than 10 days prior to such special record
date, or may be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Notes of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in the Indenture. The principal of
(and premium, if any) and the interest on this Note shall be payable at the office or agency of the
Trustee maintained for that purpose in any coin or currency of the United States of America that at
the time of payment is legal tender for payment of public and private debts.

     This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or
be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall
have been signed by or on behalf of the Trustee.

     The provisions of this Note are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place.

A-2

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be executed on this __ day of
________________, _______.

	 	 	 	 	 
	 	ENSCO PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 

	Attest:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

A-3

 

(FORM OF CERTIFICATE OF AUTHENTICATION)

CERTIFICATE OF AUTHENTICATION

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

Dated:                                         

	 	 	 	 	 

	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	 	 	as Trustee
	 
	 	 	 	 
	 

	 	By:
	 	Deutsche Bank National Trust Company
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory

A-4

 

(FORM OF REVERSE OF NOTE)

     This Note is one of a duly authorized series of Notes of the Company (herein sometimes
referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more
series under and pursuant to an Indenture, dated as of March 17, 2011, duly executed and delivered
between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”), as
supplemented by the Supplemental Indenture dated as of March 17, 2011 (the “Supplemental
Indenture”), between the Company and the Trustee (the Indenture, as so supplemented, the
“Indenture”), to which Indenture and all Indentures supplemental thereto reference is hereby made
for a description of the rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the Holders of the Notes. The Notes of this series are
initially issued in aggregate principal amount as specified in said Supplemental Indenture.

     This Note shall be subject to redemption as provided in Article III of the Supplemental
Indenture and Article XI of the Indenture.

     In case an Event of Default, as defined in the Indenture, with respect to the Notes of this
series shall have occurred and be continuing, the principal of all of the Notes of this series may
be declared, and upon such declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions provided in the Indenture.

     The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the Holders of not less than a majority in principal amount of the Notes of each series affected at
the time outstanding, as defined in the Indenture, to execute supplemental indentures for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the
Holders of the Notes, subject to Section 902 of the Indenture. The Indenture also contains
provisions permitting the Holders of not less than a majority in principal amount of the Notes of
any series at the time outstanding, on behalf of all of the Holders of the Notes of such series, to
waive any past default under the Indenture or Supplemental Indenture and its consequences, subject
to Section 504 and Article IX of the Indenture. Any such consent or waiver by the registered
Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding
upon such Holder and upon all future Holders and owners of this Note and of any Note issued in
exchange therefor or in place hereof (whether by registration of transfer or otherwise),
irrespective of whether or not any notation of such consent or waiver is made upon this Note.

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

     As provided in the Indenture and subject to certain limitations therein set forth, this Note
is transferable by the registered Holder hereof on the Security Register of the Company, upon
surrender of this Note for registration of transfer at the office or agency of the Trustee in The
City and State of New York accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Notes of authorized
denominations and for the same aggregate principal amount and series will be issued to the
designated transferee or transferees. No service charge will be made for any such transfer, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto.

A-5

 

     Prior to due presentment for registration of transfer of this Note, the Company, the Trustee,
any Paying Agent and the Security Registrar may deem and treat the registered Holder hereof as the
absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of
ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of
receiving payment of or on account of the principal hereof and premium, if any, and (subject to
Sections 305 and 307 of the Indenture) interest due hereon and for all other purposes, and neither
the Company nor the Trustee nor any Paying Agent nor any Security Registrar shall be affected by
any notice to the contrary.

     No recourse shall be had for the payment of the principal of, premium, if any, or the interest
on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in
respect of the Indenture, against any incorporator, stockholder, officer or director, past, present
or future, as such, of the Company or of any predecessor or successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released.

     The Notes of this series are issuable only in registered form, without coupons, in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

     This Global Note is exchangeable for Notes in definitive form only under certain limited
circumstances set forth in the Indenture.a As provided in the Indenture and subject to
certain limitations herein and therein set forth, Notes of this series so issued are exchangeable
for a like aggregate principal amount of Notes of this series of a different authorized
denomination, as requested by the Holder surrendering the same.

     All terms used in this Note that are defined in the Indenture shall have the meanings assigned
to them in the Indenture.

     THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS.

 

			
	a	 	Insert in Global Notes only

A-6

 

[FORM OF TRANSFER NOTICE]

     FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s)
unto

Insert Taxpayer Identification No.

      

Please print or typewrite name and address including zip code of assignee

      

the within Note and all rights thereunder, hereby irrevocably constituting and appointing _______
attorney to transfer said Note on the books of the Company with full power of substitution in the
premises.

	 	 	 	 	 

	Your Signature:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Signature Guarantee:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

(Participant in a Recognized Signature
Guaranty Medallion Program)
	 	 
	 
	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

A-7

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTEa

     The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Signature of
	 	 	Amount of decrease	 	Amount of increase	 	Principal Amount of this	 	authorized signatory
	Date of	 	in Principal Amount	 	in Principal Amount	 	Global Note following	 	of Trustee or
	Exchange	 	of this Global Note	 	of this Global Note	 	such decrease or increase	 	Securities Custodian
	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 

 

			
	a	 	Insert in Global Notes only

A-8

 

(FORM OF FACE OF NOTE)

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

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

			
	 	 	 
	No. [     ]
	 	CUSIP No. 29358Q AA7

ENSCO PLC

4.700% SENIOR NOTE DUE 2021

     ENSCO PLC, a public limited company organized under the laws of England and Wales (the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred
to), for value received, hereby promises to pay to [X] or registered assigns, the principal sum of
[X] ($[X]) [or such other sum as is set forth in the Schedule of Increases or Decreases of Global
Note attached hereto]b on March 15, 2021, and to pay interest on said principal sum
semi-annually in arrears on March 15 and September 15 of each year (each such date, an “Interest
Payment Date”) commencing September 15, 2011, at the rate of 4.700% per annum from the most recent
Interest Payment Date to which interest has been paid or duly provided for or, if no interest has
been paid, from the Issue Date until the principal hereof shall have become due and payable, and at
such rate on any overdue principal. The amount of interest payable for any period less than a full
interest period will be computed on the basis of a 360-day year of twelve 30-day months and the
actual days elapsed in a partial month in such period. In the event that any date on which
interest is payable on the Notes of this series is not a Business Day, then payment of the interest
payable on such date will be made on the next succeeding day which is a Business Day (and without
any interest or other payment in respect of any such delay) with the same force and effect as if
made on the date such payment was originally payable.

     The interest installment so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or
one or

 

			
	a	 	Insert in Global Notes only
	 
	b	 	Insert in Global Notes only

 

 

more Predecessor Securities, as defined in said Indenture) is registered at the close of
business on the Regular Record Date for such interest installment, which shall be the close of
business on the March 1 or September 1 (whether or not a Business Day), as the case may be,
immediately preceding such Interest Payment Date. Any such interest installment not punctually
paid or duly provided for shall forthwith cease to be payable to the registered Holders on such
Regular Record Date and may be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a special record date to be fixed
by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the
registered Holders of the Notes of this series not less than 10 days prior to such special record
date, or may be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Notes of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in the Indenture. The principal of
(and premium, if any) and the interest on this Note shall be payable at the office or agency of the
Trustee maintained for that purpose in any coin or currency of the United States of America that at
the time of payment is legal tender for payment of public and private debts.

     This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or
be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall
have been signed by or on behalf of the Trustee.

     The provisions of this Note are continued on the reverse side hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place.

B-2

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be executed on this __ day of
________________, _______.

	 	 	 	 	 
	 	ENSCO PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 

	Attest:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

B-3

 

(FORM OF CERTIFICATE OF AUTHENTICATION)

CERTIFICATE OF AUTHENTICATION

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

Dated:                                         

	 	 	 	 	 

	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	 	 	as Trustee
	 
	 	 	 	 
	 

	 	By:
	 	Deutsche Bank National Trust Company
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory

B-4

 

(FORM OF REVERSE OF NOTE)

     This Note is one of a duly authorized series of Notes of the Company (herein sometimes
referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more
series under and pursuant to an Indenture, dated as of March 17, 2011, duly executed and delivered
between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”), as
supplemented by the Supplemental Indenture dated as of March 17, 2011 (the “Supplemental
Indenture”), between the Company and the Trustee (the Indenture, as so supplemented, the
“Indenture”), to which Indenture and all Indentures supplemental thereto reference is hereby made
for a description of the rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the Holders of the Notes. The Notes of this series are
initially issued in aggregate principal amount as specified in said Supplemental Indenture.

     This Note shall be subject to redemption as provided in Article III of the Supplemental
Indenture and Article XI of the Indenture.

     In case an Event of Default, as defined in the Indenture, with respect to the Notes of this
series shall have occurred and be continuing, the principal of all of the Notes of this series may
be declared, and upon such declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions provided in the Indenture.

     The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the Holders of not less than a majority in principal amount of the Notes of each series affected at
the time outstanding, as defined in the Indenture, to execute supplemental indentures for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the
Holders of the Notes, subject to Section 902 of the Indenture. The Indenture also contains
provisions permitting the Holders of not less than a majority in principal amount of the Notes of
any series at the time outstanding, on behalf of all of the Holders of the Notes of such series, to
waive any past default under the Indenture or Supplemental Indenture and its consequences, subject
to Section 504 and Article IX of the Indenture. Any such consent or waiver by the registered
Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding
upon such Holder and upon all future Holders and owners of this Note and of any Note issued in
exchange therefor or in place hereof (whether by registration of transfer or otherwise),
irrespective of whether or not any notation of such consent or waiver is made upon this Note.

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

     As provided in the Indenture and subject to certain limitations therein set forth, this Note
is transferable by the registered Holder hereof on the Security Register of the Company, upon
surrender of this Note for registration of transfer at the office or agency of the Trustee in The
City and State of New York accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Notes of authorized
denominations and for the same aggregate principal amount and series will be issued to the
designated transferee or transferees. No service charge will be made for any such transfer, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto.

B-5

 

     Prior to due presentment for registration of transfer of this Note, the Company, the Trustee,
any Paying Agent and the Security Registrar may deem and treat the registered Holder hereof as the
absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of
ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of
receiving payment of or on account of the principal hereof and premium, if any, and (subject to
Sections 305 and 307 of the Indenture) interest due hereon and for all other purposes, and neither
the Company nor the Trustee nor any Paying Agent nor any Security Registrar shall be affected by
any notice to the contrary.

     No recourse shall be had for the payment of the principal of, premium, if any, or the interest
on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in
respect of the Indenture, against any incorporator, stockholder, officer or director, past, present
or future, as such, of the Company or of any predecessor or successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released.

     The Notes of this series are issuable only in registered form, without coupons, in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

     This Global Note is exchangeable for Notes in definitive form only under certain limited
circumstances set forth in the Indenture.a As provided in the Indenture and subject to
certain limitations herein and therein set forth, Notes of this series so issued are exchangeable
for a like aggregate principal amount of Notes of this series of a different authorized
denomination, as requested by the Holder surrendering the same.

     All terms used in this Note that are defined in the Indenture shall have the meanings assigned
to them in the Indenture.

     THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS.

 

			
	a	 	Insert in Global Notes only

B-6

 

[FORM OF TRANSFER NOTICE]

     FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s)
unto

Insert Taxpayer Identification No.

      

Please print or typewrite name and address including zip code of assignee

      

the within Note and all rights thereunder, hereby irrevocably constituting and appointing _______
attorney to transfer said Note on the books of the Company with full power of substitution in the
premises.

	 	 	 	 	 

	Your Signature:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Signature Guarantee:	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

(Participant in a Recognized Signature
Guaranty Medallion Program)
	 	 
	 
	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

B-7

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTEa

     The following increases or decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Signature of
	 	 	Amount of decrease	 	Amount of increase	 	Principal Amount of this	 	authorized signatory
	Date of	 	in Principal Amount	 	in Principal Amount	 	Global Note following	 	of Trustee or
	Exchange	 	of this Global Note	 	of this Global Note	 	such decrease or increase	 	Securities Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

			
	a	 	Insert in Global Notes only

B-8

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