Document:

<PAGE>

[ECA LOGO]

                                                                 Exhibit 10.2(b)

                         [Confidential Portions Omitted]

December 18, 2003

Mr. Ray Musci
CEO
Bam Entertainment, Inc.
333 West Santa Clara St., Suite 930
San Jose, CA 95113

Dear Ray,

Reference is made to that certain engagement letter between Europlay Capital
Advisors, LLC and BAM Entertainment, Inc. dated November 17, 2003, as amended on
December 12, 2003 (the "Engagement Letter"). The parties hereby agree to further
amend the Engagement Letter as follows (all capitalized terms not defined herein
shall have the meaning ascribed in the Engagement Letter):

1.       The term "Agreed Entity" shall be deemed to include the following
         parties: (a) VIS Entertainment plc, (b) [*], (c) [*], (d) and [*].

2.       The term "Covered Person" shall be deemed to include the following
         parties: (a) VIS Entertainment plc, (b) [*], (c) [*], (d) and [*].

All other terms of the Engagement Letter as amended are hereby ratified and
confirmed. Please confirm your agreement to the foregoing by signing and
returning this letter to ECA.

                                            Very truly yours,

                                            EUROPLAY CAPITAL ADVISORS, LLC

                                            By:    /s/ Pamela Colburn
                                                   -------------------------
                                            Title: Managing Director

Accepted and agreed as of the date first above written:

BAM ENTERTAINMENT, INC.

By:    /s/ Raymond Musci
       ------------------------
Title: Chief Executive Officer

                15821 Ventura Blvd., Suite 525, Encino, CA 91436
                     Phone (818) 444-4400 Fax (818) 444-4401

------------
* Confidential portion omitted and filed separately with the Commission.<PAGE>
                                                                     Exhibit 4.1

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                           NATIONAL CITY CORPORATION,

                                     Issuer

                                       to

                              THE BANK OF NEW YORK,

                                     Trustee

                               ------------------

                                SENIOR INDENTURE

                               ------------------

                           Dated as of March 17, 2004

                             Senior Debt Securities

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<PAGE>
<TABLE>
<S>                                                                                                        <C>
ARTICLE ONE    DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION..............................        9

  Section 101.  Definitions.........................................................................        9

      Act ..........................................................................................       10

      Additional Amounts............................................................................       10

      Affiliate.....................................................................................       10

      Authenticating Agent..........................................................................       10

      Authorized Newspaper..........................................................................       10

      Bank .........................................................................................       10

      Bearer Security...............................................................................       11

      Board Of Directors............................................................................       11

      Board Resolution..............................................................................       11

      Business Day..................................................................................       11

      Called Security...............................................................................       11

      Capital Stock.................................................................................       11

      Commission....................................................................................       11

      Common Stock..................................................................................       11

      Company ......................................................................................       11

      Company Request and Company Order.............................................................       11

      Constituent Bank..............................................................................       11

      Convertible Security or Convertible Securities................................................       12

      Conversion Price..............................................................................       12

      Corporate Trust Office........................................................................       12

      Corporation...................................................................................       12

      Coupon .......................................................................................       12

      Date of Conversion............................................................................       12

      Defaulted Interest............................................................................       12

      Dollars or "$"................................................................................       12

      Event Of Default..............................................................................       12

      Government Obligations........................................................................       12

      Holder .......................................................................................       13

      Indenture.....................................................................................       13

      Independent Public Accountants................................................................       13
</TABLE>

                                       2
<PAGE>
<TABLE>
<S>                                                                                                        <C>
      Interest .....................................................................................       13

      Interest Payment Date.........................................................................       13

      Legal Holiday.................................................................................       13

      Maturity .....................................................................................       13

      Officers' Certificate.........................................................................       13

      Opinion Of Counsel............................................................................       13

      Original Issue Discount Security..............................................................       13

      Outstanding...................................................................................       13

      Paying Agent..................................................................................       15

      Person .......................................................................................       15

      Place Of Payment..............................................................................       15

      Predecessor Security..........................................................................       15

      Principal Constituent Bank....................................................................       15

      Redemption Date...............................................................................       15

      Redemption Price..............................................................................       15

      Registered Security...........................................................................       16

      Regular Record Date...........................................................................       16

      Responsible Officer...........................................................................       16

      Security or Securities........................................................................       16

      Security Register and Security Registrar......................................................       16

      Special Record Date...........................................................................       16

      Stated Maturity...............................................................................       16

      Subsidiary....................................................................................       16

      Trust Indenture Act...........................................................................       16

      Trustee  .....................................................................................       16

      United States.................................................................................       17

      United States Alien...........................................................................       17

      U.S. Depository or Depository.................................................................       17

      Vice President................................................................................       17

      Voting Stock..................................................................................       17

  Section 102.          Compliance Certificates and Opinions........................................       17

  Section 103.          Form of Documents Delivered to Trustee......................................       18

  Section 104.          Acts of Holders.............................................................       18
</TABLE>

                                       3
<PAGE>
<TABLE>
<S>                                                                                                        <C>
  Section 105.          Notices, Etc., to Trustee and Company.......................................       20

  Section 106.          Notice to Holders; Waiver...................................................       21

  Section 107.          Language of Notices.........................................................       22

  Section 108.          Conflict With Trust Indenture Act...........................................       22

  Section 109.          Effect of Headings and Table of Contents....................................       22

  Section 110.          Successors and Assigns......................................................       22

  Section 111.          Separability Clause.........................................................       22

  Section 112.          Benefits Of Indenture.......................................................       22

  Section 113.          Governing Law...............................................................       23

  Section 114.          Legal Holidays..............................................................       23

ARTICLE TWO    SECURITIES FORMS.....................................................................       23

  Section 201.          Forms Generally.............................................................       23

  Section 202.          Form of Trustee's Certificate of Authentication.............................       23

  Section 203.          Securities in Global Form...................................................       24

ARTICLE THREE    THE SECURITIES.....................................................................       24

  Section 301.          Amount Unlimited; Issuable in Series........................................       24

  Section 302.          Denominations...............................................................       28

  Section 303.          Execution, Authentication, Delivery and Dating..............................       28

  Section 304.          Temporary Securities........................................................       30

  Section 305.          Registration, Transfer and Exchange.........................................       31

  Section 306.          Mutilated, Destroyed, Lost and Stolen Securities............................       34

  Section 307.          Payment of Interest; Interest Rights Preserved..............................       35

  Section 308.          Persons Deemed Owners.......................................................       36

  Section 309.          Cancellation................................................................       37

  Section 310.          Computation of Interest.....................................................       37

  Section 311.          Cusip Numbers...............................................................       37

ARTICLE FOUR    SATISFACTION AND DISCHARGE..........................................................       38

  Section 401.          Satisfaction and Discharge of Indenture.....................................       38

  Section 402.          Application of Trust Money..................................................       39

  Section 403.          Satisfaction, Discharge and Defeasance of Securities of Any Series..........       40
</TABLE>

                                       4
<PAGE>
<TABLE>
<S>                                                                                                        <C>
Article Five    REMEDIES............................................................................       41

  Section 501.          Events of Default...........................................................       42

  Section 502.          Acceleration of Maturity; Rescission and Annulment..........................       43

  Section 503.          Collection of Indebtedness and Suits For Enforcement By Trustee.............       44

  Section 504.          Trustee May File Proofs of Claim............................................       45

  Section 505.          Trustee May Enforce Claims Without Possession of Securities or Coupons......       45

  Section 506.          Application of Money Collected..............................................       46

  Section 507.          Limitation on Suits.........................................................       46

  Section 508.          Unconditional Right of Holders to Receive Principal, Premium, Interest
                          and Additional Amounts ...................................................       47

  Section 509.          Restoration of Rights and Remedies..........................................       47

  Section 510.          Rights and Remedies Cumulative..............................................       47

  Section 511.          Delay or Omission Not Waiver................................................       47

  Section 512.          Control By Holders..........................................................       48

  Section 513.          Waiver of Past Defaults.....................................................       48

  Section 514.          Waiver of Stay or Extension Laws............................................       48

ARTICLE SIX    THE TRUSTEE..........................................................................       49

  Section 601.          Notice of Defaults..........................................................       49

  Section 602.          Certain Rights of Trustee...................................................       49

  Section 603.          Not Responsible For Recitals or Issuance of Securities......................       50

  Section 604.          May Hold Securities.........................................................       51

  Section 605.          Money Held In Trust.........................................................       51

  Section 606.          Compensation and Reimbursement..............................................       51

  Section 607.          Corporate Trustee Required; Eligibility; Conflicting Interests..............       52

  Section 608.          Resignation and Removal; Appointment of Successor...........................       53

  Section 609.          Acceptance of Appointment By Successor......................................       54

  Section 610.          Merger, Conversion, Consolidation or Succession to Business.................       55

  Section 611.          Appointment of Authenticating Agent.........................................       56

ARTICLE SEVEN    HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY..................................       58

  Section 701.          Company to Furnish Trustee Names and Addresses of Holders...................       58

  Section 702.          Preservation of Information; Communications to Holders......................       58
</TABLE>

                                       5
<PAGE>
<TABLE>
<S>                                                                                                        <C>

  Section 703.          Reports By Trustee..........................................................       58

  Section 704.          Reports By Company..........................................................       59

ARTICLE EIGHT    CONSOLIDATION, MERGER AND SALES....................................................       60

  Section 801.          Company May Consolidate Etc., Only on Certain Terms.........................       60

  Section 802.          Successor Corporation Substituted For Company...............................       60

ARTICLE NINE    SUPPLEMENTAL INDENTURES.............................................................       61

  Section 901.          Supplemental Indentures Without Consent of Holders..........................       61

  Section 902.          Supplemental Indentures With Consent of Holders.............................       62

  Section 903.          Execution of Supplemental Indentures........................................       63

  Section 904.          Effect of Supplemental Indentures...........................................       63

  Section 905.          Conformity With Trust Indenture Act.........................................       64

  Section 906.          Reference in Securities to Supplemental Indentures..........................       64

ARTICLE TEN    COVENANTS............................................................................       64

  Section 1001.         Payment of Principal, Premium, If Any, and Interest.........................       64

  Section 1002.         Maintenance of Office or Agency.............................................       64

  Section 1003.         Money For Securities Payments to Be Held in Trust...........................       65

  Section 1004.         Additional Amounts..........................................................       67

  Section 1005.         Statement As To Compliance; Notice of Certain Defaults......................       67

  Section 1006.         Limitation Upon Sale or Issuance of Capital Stock of Certain Subsidiaries...       68

  Section 1007.         Limitation on Liens.........................................................       69

  Section 1008.         Limitation on Certain Acquisitions..........................................       69

  Section 1009.         Payment of Taxes and Other Claims...........................................       70

  Section 1010.         Corporate Existence.........................................................       70

  Section 1011.         Waiver of Certain Covenants.................................................       70

  Section 1012.         Calculation of Original Issue Discount......................................       70

ARTICLE ELEVEN    REDEMPTION OF SECURITIES..........................................................       71

  Section 1101.         Applicability of Article....................................................       71

  Section 1102.         Election To Redeem; Notice To Trustee.......................................       71

  Section 1103.         Selection By Trustee of Securities To Be Redeemed...........................       71

  Section 1104.         Notice of Redemption........................................................       71

  Section 1105.         Deposit of Redemption Price.................................................       73

  Section 1106.         Securities Payable on Redemption Date.......................................       73
</TABLE>

                                       6
<PAGE>
<TABLE>
<S>                                                                                                        <C>

  Section 1107.         Securities Redeemed in Part.................................................       74

  Section 1108.         Conversion Arrangements on Call for Redemption..............................       74

ARTICLE TWELVE    SINKING FUNDS.....................................................................       75

  Section 1201.         Applicability of Article....................................................       75

  Section 1202.         Satisfaction of Sinking Fund Payments With Securities.......................       75

  Section 1203.         Redemption of Securities For Sinking Fund...................................       76

ARTICLE THIRTEEN    REPAYMENT AT THE OPTION OF HOLDERS..............................................       76

  Section 1301.         Applicability of Article....................................................       76

ARTICLE FOURTEEN    MEETINGS OF HOLDERS.............................................................       77

  Section 1401.         Purposes For Which Meetings May Be Called...................................       77

  Section 1402.         Call, Notice and Place of Meetings..........................................       77

  Section 1403.         Persons Entitled To Vote At Meetings........................................       77

  Section 1404.         Quorum; Action..............................................................       77

  Section 1405.         Determination of Voting Rights; Conduct and Adjournment of Meetings.........       78

  Section 1406.         Counting Votes and Recording Action of Meetings.............................       79

ARTICLE FIFTEEN    CONVERSION.......................................................................       80

  Section 1501.         Conversion Privilege........................................................       80

  Section 1502.         Manner of Exercise of Convertible Privilege.................................       80

  Section 1503.         Cash Adjustment Upon Conversion.............................................       81

  Section 1504.         Conversion Price............................................................       81

  Section 1505.         Adjustment of Conversion Price..............................................       81

  Section 1506.         Effect of Reclassifications, Consolidations, Mergers or Sales on Conversion
                           Privilege ...............................................................       84

  Section 1507.         Taxes on Conversion.........................................................       85

  Section 1508.         Company to Reserve Common Stock.............................................       85

  Section 1509.         Disclaimer by Trustee of Responsibility for Certain Matters.................       85

  Section 1510.         Company to Give Notice of Certain Events....................................       86

ARTICLE SIXTEEN    MISCELLANEOUS PROVISIONS.........................................................       87

  Section 1601.         Securities in Foreign Countries.............................................       87

</TABLE>

                                       7
<PAGE>
                            NATIONAL CITY CORPORATION

      Reconciliation and tie between Trust Indenture Act of 1939, AS AMENDED,
AND SENIOR INDENTURE, DATED AS OF MARCH 17, 2004.

<TABLE>
<CAPTION>
Trust Indenture Act Section                                                    Indenture Section
<S>                                                                            <C>
Section 310 (a)(1).....................................................        607
            (a)(2).....................................................        607
            (a)(5).....................................................        607
            (b)........................................................        607
Section 311 (a)........................................................        604
            (b)........................................................        604
            (b)(2).....................................................        108
Section 312 (a)........................................................        701, 702 (a)
            (b)........................................................        702 (a)
            (c)........................................................        702 (b)
Section 313 (a)........................................................        703 (a), 703 (b)
            (b)(2).....................................................        108
            (c)........................................................        703 (c)
            (d)........................................................        703 (c)
Section 314 (a)........................................................        704
            (c)(1).....................................................        102
            (c)(2).....................................................        102
            (c)(3).....................................................        108
            (e)........................................................        102
Section 315 (a)........................................................        108
            (b)........................................................        601
            (c)........................................................        108
            (d)........................................................        108
            (d)(1).....................................................        108
            (d)(2).....................................................        108
            (d)(3).....................................................        108
            (e)........................................................        108
Section 316 (a)........................................................        104
            (a)(1) (A).................................................        512
            (a)(1) (B).................................................        513
            (b)........................................................        508
            (c)........................................................        104
Section 317 (a)(1).....................................................        505
            (a)(2).....................................................        504
            (b)........................................................        1003
Section 318 (a)........................................................        108
</TABLE>

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

                                       8
<PAGE>
      SENIOR INDENTURE, dated as of March 17, 2004 (the "Indenture"), among
NATIONAL CITY CORPORATION, a corporation duly organized and existing under the
laws of the State of Delaware (the "Company"), having its principal office at
1900 East Ninth Street, Cleveland, Ohio 44114, and THE BANK OF NEW YORK, a New
York banking corporation, having its principal office at 101 Barclay Street,
Floor 8 West, New York, New York 10286, as Trustee (the "Trustee").

                                    RECITALS

      The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured and
unsubordinated debentures, notes or other evidences of indebtedness (the
"Securities"), unlimited as to principal amount, to bear such rates of interest,
to mature at such time or times, to be issued in one or more series and to have
such other provisions as shall be fixed as hereinafter provided.

      The Company has duly authorized the execution and delivery of this
Indenture and all things necessary to make this Indenture a valid agreement of
the Company, in accordance with its terms, have been done.

      This Indenture is subject to the provisions of the Trust Indenture Act of
1939, as amended, that are required to be part of this Indenture and shall, to
the extent applicable, be governed by such provisions.

      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 or Coupons appertaining to any Securities, 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 other terms used herein which are defined in the Trust Indenture
            Act, either directly or by reference therein, have the meanings
            assigned to them therein;

      (3)   all accounting terms not otherwise defined herein have the meanings
            assigned to them in accordance with generally accepted accounting
            principles and, except as otherwise herein expressly provided, the
            term "generally accepted accounting

                                       9
<PAGE>
            principles" with respect to any computation required or permitted
            hereunder shall mean such accounting principles as are generally
            accepted at the date of such computation;

      (4)   the words "herein", "hereof", "hereto" 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;

      (5)   the word "or" is not exclusive;

      (6)   all words in the singular include the plural and all words in the
            plural include the singular; and

      (7)   the word "including" means "including without limitations."

      Certain terms used principally in certain Articles hereof are defined in
those Articles.

      "Act", when used with respect to any Holders, has the meaning specified in
Section 104.

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

      "Affiliate" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For 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 the meanings correlative to
the foregoing.

      "Authenticating Agent" means any Person authorized by the Trustee pursuant
to Section 611 to act on behalf of the Trustee to authenticate Securities of one
or more series.

      "Authorized Newspaper" means a newspaper, in an official language of the
country of publication or in the English language, customarily published on each
Business Day, whether or not published on Legal Holidays, and of general
circulation in each place in connection with which the term is used or in the
financial community of each 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.

      "Bank" means (i) any institution organized under the laws of the United
States, any State of the United States, the District of Columbia, any territory
of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands
which (a) accepts deposits that the depositor has a legal right to withdraw on
demand, and (b) engages in the business of making commercial loans and (ii) any
trust company organized under any of the foregoing laws.

                                       10
<PAGE>
      "Bearer Security" means any Security in the form established pursuant to
Section 201 which is payable to bearer.

      "Board Of Directors" means the board of directors of the Company or any
committee of that board duly authorized to act for the Company hereunder.

      "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, or a duly authorized committee thereof, and to be in full force
and effect on the date of such certification, and delivered to the Trustee.

      "Business Day", except as may otherwise be provided herein or in any
Security, means any day, other than a Saturday or a Sunday, that is neither a
Legal Holiday nor a day on which banking institutions are authorized or required
by law, regulation or executive order to close in The City of New York.

      "Called Securities" means any Convertible Security that is called for
redemption by the Company.

      "Capital Stock" means, as to shares of a particular corporation,
outstanding shares of stock of any class whether now or hereafter authorized,
irrespective of whether such class shall be limited to a fixed sum or percentage
in respect of the rights of the holders thereof to participate in dividends and
in the distribution of assets upon the voluntary liquidation, dissolution or
winding up of such corporation.

      "Commission" means the Securities and Exchange Commission, as from time to
time constituted, created under the Securities Exchange Act of 1934 or, if at
any time after the execution of this Indenture 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.

      "Common Stock" means all shares now or hereafter authorized of the class
of common stock of the Company presently authorized and stock of any other class
into which such shares may hereafter have been changed.

      "Company" means the Person named as the "Company" in the first paragraph
of this instrument until a successor corporation shall have become such pursuant
to the applicable provisions of this Indenture, and thereafter "Company" shall
mean such successor corporation, and any other obligor upon the Securities.

      "Company Request" and "Company Order" mean a written request or order, as
the case may be, signed in the name of the Company by the Chairman of the Board
of Directors, a Vice Chairman, the President or a Vice President, and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, and delivered to the Trustee.

      "Constituent Bank" means any Subsidiary which is a Bank.

      "Convertible Security" or "Convertible Securities" means any Security or
Securities, as the case may be, which are by their terms convertible into Common
Stock.

                                       11
<PAGE>
      "Conversion Price" means the price per share of Common Stock from time to
time in effect at which any Convertible Security may be converted into Common
Stock as determined by or pursuant to the terms of this Indenture.

      "Corporate Trust Office" means, the principal office of the Trustee, at
which at any particular time its corporate trust business shall be administered,
which office at the date of original execution of this Indenture is located at
101 Barclay Street, Floor 8 West, New York, New York 10286, Attention: Corporate
Trust Administration.

      "Corporation" includes corporations, associations, companies and business
trusts.

      "Coupon" means any interest coupon appertaining to a Bearer Security.

      "Date of Conversion" with respect to any Convertible Security or portion
thereof to be converted, means the date on which such Convertible Security shall
be surrendered for conversion and notice given in accordance with the provisions
of Article Fifteen.

      "Defaulted Interest" has the meaning specified in Section 307.

      "Dollars" or "$" means a dollar or other equivalent unit in the currency
of the United States, except as may otherwise be provided herein or in any
Security.

      "Event Of Default" has the meaning specified in Section 501.

      "Government Obligations", with respect to any Securities unless otherwise
specified herein or therein, means (i) direct obligations of the United States
of America or the government or governments which issued the currency, currency
unit or composite currency in which any Securities are payable, for the payment
of which its full faith and credit is pledged or (ii) obligations of a Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America or such government or governments which issued the
currency, currency unit or composite currency in which such Securities are
payable, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States of America or such other government or
governments, which, in either case, are not callable or redeemable at the option
of the issuer or issuers thereof, and shall also include a depository receipt
issued by a bank or trust company as custodian with respect to any such
Government Obligation or a specific payment of interest on or principal of any
such Government Obligation held by such custodian for the account of the holder
of a depository receipt, PROVIDED that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the
holder of such depository receipt from any amount received by the custodian in
respect of the Government Obligation or the specific payment of interest on or
principal of the Government Obligation evidenced by such depository receipt.

      "Holder", in the case of any Registered Security, means the Person in
whose name such Security is registered in the Security Register and, in the case
of any Bearer Security, means the bearer thereof and, in the case of any Coupon,
means the bearer thereof.

                                       12
<PAGE>
      "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 with
respect to any Security shall include the terms of such Securities established
as contemplated by Section 301; PROVIDED, HOWEVER, that, if at any time more
than one Person is acting as Trustee under this instrument, "INDENTURE" shall
mean, with respect to any one or more series of Securities for which such Person
is Trustee, 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 the or those particular series of Securities for which such Person is
Trustee established as contemplated by Section 301, exclusive, however, of any
provisions or terms which relate solely to other series of Securities for which
such Person is Trustee, regardless of when such terms or provisions were
adopted, and exclusive of any provisions or terms adopted by means of one or
more indentures supplemental hereto executed and delivered after such Person had
become such Trustee but to which such Person, as such Trustee, was not a party.

      "Independent Public Accountants" means accountants or a firm of
accountants that are independent public accountants with respect to the Company
within the meaning of the Securities Act of 1933, as amended, and the rules and
regulations promulgated by the Commission thereunder who may be the independent
public accountants regularly retained by the Company or who may be other
independent public accountants. Such accountants or firm shall be entitled to
rely upon any Opinion of Counsel as to the interpretation of any legal matters
relating to the Indenture or certificates required to be provided hereunder.

      "Interest", with respect to any Original Issue Discount Security which by
its terms bears interest only after Maturity, means interest payable after
Maturity and, with respect to any Security which provides for the payment of
Additional Amounts pursuant to Section 1004, includes such Additional Amounts.

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

      "Legal Holiday", except as otherwise may be provided herein or in any
Securities, with respect to any Place of Payment or other location, means a
Saturday, a Sunday or a day on which banking institutions or trust companies in
such Place of Payment or other location are not authorized or obligated to be
open.

      "Maturity", 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, notice of redemption, notice of option to elect
repayment or otherwise.

      "Officers' Certificate" means a certificate signed by the Chairman of the
Board, a Vice Chairman, the President or a Vice President, and by the Treasurer,
an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company,
and delivered to the Trustee.

                                       13
<PAGE>
      "Opinion Of Counsel", except as otherwise provided herein or in any
Security, means a written Opinion of Counsel, who may be an employee of or
counsel for the Company or other counsel.

      "Original Issue Discount Security" means a Security issued pursuant to
this Indenture which provides for declaration of an amount less than the
principal thereof to be due and payable upon acceleration pursuant to Section
502.

      "Outstanding", 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 the Security
            Registrar or delivered to the Trustee or the Security Registrar for
            cancellation;

      (ii)  Securities, or portions thereof for whose payment or redemption or
            repayment at the option of the Holder money in the necessary amount
            has been theretofore 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 and any Coupons
            appertaining thereto, 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;

      (iii) Securities, except to the extent provided in Section 403, with
            respect to which the Company has effected defeasance and/or covenant
            defeasance pursuant to Section 403 hereof; and

      (iv)  Securities which 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 Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or are present at
a meeting of Holders of Securities for quorum purposes and for purposes of
making the calculations required by Section 313 of the Trust Indenture Act, (i)
the principal amount of an Original Issue Discount Security that may be counted
in making such determination or calculation and that shall be deemed to be
outstanding for such purposes shall be equal to the amount of the principal
thereof that pursuant to the terms of such Original Issue Discount Security
would be declared (or shall have been declared to be) due and payable upon a
declaration of acceleration pursuant to Section 502 at the time of such
determination or calculation, and (ii) the principal amount of any Security
denominated other than in Dollars that may be counted in making such
determination or calculation and that shall be deemed outstanding for such
purpose shall be equal to the Dollar equivalent, determined by the Company as of
the date such Security is originally issued by the Company, of the principal
amount (or, in

                                       14
<PAGE>
the case of an Original Issue Discount Security, the Dollar equivalent as of
such date of original issuance of the amount determined as provided in clause
(i) above) of such Security, and (iii) Securities owned by the Company or any
other obligor upon the Securities or any Affiliate of the Company or such other
obligor, shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in making any such
calculation or relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which a Responsible Officer of the
Trustee actually 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 such other obligor.

      "Paying Agent" means any Person authorized by the Company to pay the
principal of (and premium, if any) or interest on any Security or Coupon on
behalf of the Company.

      "Person" means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

      "Place Of Payment", with respect to any Security, 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 or pursuant to Section
301(9) or Section 1002.

      "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
lost, destroyed, mutilated or stolen Security or any Security to which a
mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to
evidence the same debt as the lost, destroyed, mutilated or stolen Security or
the Security to which a mutilated, destroyed, lost or stolen Coupon appertains.

      "Principal Constituent Bank" means any Constituent Bank the consolidated
assets of which as set forth in the most recent statement of condition of such
Bank constitute 15% or more of the Company's consolidated assets as determined
from the most recent statements of condition of the Company.

      "Redemption Date", with respect to any Security or portion thereof to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture.

      "Redemption Price", with respect to any Security or portion thereof to be
redeemed, means the price at which it is to be redeemed as determined by or
pursuant to the provisions of this Indenture.

      "Registered Security" means any Security established pursuant to Section
201 which is registered and the transfer or exchange thereof is registrable in
the Security Register.

                                       15
<PAGE>
      "Regular Record Date" for the interest payable on any Registered Security
on any Interest Payment Date therefor means the date, if any, specified in such
Security as the "Regular Record Date".

      "Responsible Officer" when used with respect to the Trustee means any
officer with the corporate trust department of the Trustee, including the vice
president, any assistant vice president, assistant treasurer, or any other
officer of the Trustee who customarily performs functions similar to those
performed by the Persons who at the time shall be such officers, respectively,
or to whom any corporate trust matter is referred because of such person's
knowledge of and familiarity with the particular subjects and who shall have
direct responsibility for the administration of this Indenture.

      "Security" or "Securities" means any Security or Securities, as the case
may be, authenticated and delivered under this Indenture; PROVIDED, HOWEVER,
that if at any time there is more than one Person acting as Trustee under this
Indenture, "Securities" with respect to the Indenture as to which such Person is
Trustee shall have the meaning stated in the first recital of this Indenture and
shall more particularly mean Securities authenticated and delivered under this
Indenture, exclusive, however, of Securities of any series as to which such
Person is not Trustee.

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

      "Special Record Date" for the payment of any Defaulted Interest on any
registered Security means a date fixed by the Trustee pursuant to Section 307.

      "Stated Maturity", with respect to any Security or any installment of
principal thereof or interest thereon, means the date specified in such Security
or a Coupon representing such installment of interest as the fixed date on which
the principal of such Security or such installment of principal or interest is
due and payable.

      "Subsidiary" means any corporation of which at the time of determination
the Company and/or one or more Subsidiaries owns or controls directly or
indirectly more than 50% of the shares of Voting Stock.

      "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
905.

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

                                       16
<PAGE>
      "United States", except as otherwise provided herein or in any Security,
means the United States of America (including the States and the District of
Columbia) , its territories and possessions and other areas subject to its
jurisdiction.

      "United States Alien", except as otherwise provided herein or in any
Security, means any Person who, for United States Federal income tax purposes,
is a foreign corporation, a non-resident alien individual, a non-resident alien
fiduciary of a foreign estate or trust, or a foreign partnership one or more of
the members of which is, for United States Federal income tax purposes, a
foreign corporation, a non-resident alien individual or a non-resident alien
fiduciary of a foreign estate or trust.

      "U.S. Depository" or "Depository" means, with respect to any Security
issuable or issued in the form of one or more global Securities, the Person
designated as U.S. Depository by the Company pursuant to Section 301, which must
be a clearing agency registered under the Securities Exchange Act of 1934, as
amended, and, if so provided pursuant to Section 301 with respect to any
Security, any successor to such Person. If at any time there is more than one
such Person, "U.S. Depository" or "Depository" shall mean, with respect to any
Securities, the qualifying entity which has been appointed with respect to such
Securities.

      "Vice President", 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".

      "Voting Stock" means stock of a corporation of the class or classes having
general voting power under ordinary circumstances to elect at least a majority
of the board of directors, managers or trustees of such corporation provided
that, for the purposes hereof, stock which carries only the right to vote
conditionally on the happening of an event shall not be considered voting stock
whether or not such event shall have happened.

      SECTION 102. COMPLIANCE CERTIFICATES AND OPINIONS.

      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 Officers' Certificate stating that all conditions precedent, if any,
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, have been complied with, except
that in the case of any such application or request as to which the furnishing
of such documents or any of them 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 and in any applicable Security
(except Section 1005) shall include:

      (1)   a statement that each individual signing such certificate or opinion
            has read such condition or covenant and the definitions herein and
            in any applicable Security relating thereto;

                                       17
<PAGE>
      (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 individual, he has
            made such examination or investigation as is necessary to enable him
            to express an informed opinion as to whether or not such condition
            or covenant has been complied with; and

      (4)   a statement as to whether, in the opinion of each such individual,
            such condition or covenant has been complied with.

      SECTION 103. 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 or any Security, they may, but need not, be
consolidated and form one instrument.

      SECTION 104. ACTS OF HOLDERS.

      (a) 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 agent duly appointed in writing.
If, but only if, Securities of a series are issuable as Bearer Securities, any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of Securities
of such series may, alternatively, be embodied in and evidenced by the record of
Holders of Securities of such series voting in favor thereof, either in person
or by proxies duly appointed in writing, at any meeting of Holders of Securities
of such series duly called and held in accordance with the provisions of Article
Fourteen, or a combination of such instruments and any such record. Except as
herein otherwise expressly provided, such action shall become effective when
such

                                       18
<PAGE>
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
of the holding by any Person of a Security, shall be sufficient for any purpose
of this Indenture and (subject to Section 315 of the Trust Indenture Act)
conclusive in favor of the Trustee and the Company and any agent of the Trustee
or 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 1406.

      Without limiting the generality of this Section 104, unless otherwise
established in or pursuant to a Board Resolution or set forth or determined in
an Officers' Certificate, or established in one or more indentures supplemental
hereto, pursuant to Section 301, a Holder, including a U.S. Depository that is a
Holder of a global Security, may make, give or take, by a proxy, or proxies,
duly appointed in writing, any request, demand, authorization, direction,
notice, consent, waiver or other action provided in this Indenture to be made,
given or taken by Holders, and a U.S. Depository that is a Holder of a global
Security may provide its proxy or proxies to the beneficial owners of interests
in any such global Security through such U.S. Depository's standing instructions
and customary practices.

      The Trustee shall fix a record date, which shall be not more than 30 days
prior to the first solicitation of such Holders, for the purpose of determining
the Persons who are beneficial owners of interest in any permanent global
Security held by a U.S. Depository entitled under the procedures of such U.S.
Depository to make, give or take, by a proxy or proxies duly appointed in
writing, any request, demand, authorization, direction, notice, consent, waiver
or other action provided in this Indenture to be made, given or taken by
Holders. If such a record date is fixed, the Holders on such record date or
their duly appointed proxy or proxies, and only such Persons, shall be entitled
to make, give or take such request, demand, authorization, direction, notice,
consent, waiver or other action, whether or not such Holders remain Holders
after such record date. No such request, demand, authorization, direction,
notice, consent, waiver or other action shall be valid or effective if made,
given or taken more than 90 days after such record date.

      (b) The fact and date of the execution by any Person of any such
instrument or writing may be proved in any reasonable manner which the Trustee
deems sufficient and in accordance with such reasonable rules as the Trustee may
determine; and the Trustee may in any instance require further proof with
respect to any of the matters referred to in this Section.

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

      (d) The ownership, principal amount and serial numbers of Bearer
Securities held by any Person, and the date of the commencement and the date of
termination of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any Bank, banker or
other depositary reasonably acceptable to the Company, wherever situated, if
such certificate shall be deemed by the Trustee to be satisfactory, showing

                                       19
<PAGE>
that at the date therein mentioned such Person had on deposit with such
depositary, or exhibited to it, the Bearer Securities therein described; or such
facts may be proved by the certificate or affidavit of the Person holding such
Bearer Securities, if such certificate or affidavit is deemed by the Trustee to
be satisfactory. The Trustee and the Company may assume that such ownership of
any Bearer Security continues until (1) another certificate or affidavit bearing
a later date issued in respect of the same Bearer Security is produced, or (2)
such Bearer Security is produced to the Trustee by some other Person, or (3)
such Bearer Security is surrendered in exchange for a Registered Security, or
(4) such Bearer Security is no longer Outstanding. The principal amount and
serial numbers of Bearer Securities held by the Person so executing such
instrument or writing and the date of the commencement and the date of
termination of holding the same may also be proved in any other manner which the
Trustee deems sufficient.

      (e) If the Company shall solicit from the Holders of any Registered
Securities any request, demand, authorization, direction, notice, consent,
waiver or other Act, the Company may at their option, by Board Resolutions, fix
in advance a record date, which shall be not more than 30 days prior to the
first solicitation of such Holders, for the determination of Holders of
Registered Securities entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other Act, but the Company shall have no
obligation to do so. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other Act may be given
before or after such record date, but only the Holders of Registered Securities
of record at the close of business on such record date shall be deemed to be
Holders for the purposes of determining whether Holders of the requisite
proportion of Outstanding Securities have authorized or agreed or consented to
such request, demand, authorization, direction, notice, consent, waiver or other
Act, and for that purpose the Outstanding Securities shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date.

      (f) Any request, demand, authorization, direction, notice, consent, waiver
or other action by 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 or suffered to be done by the Trustee, any Security Registrar, any
Paying Agent or the Company in reliance thereon, whether or not notation of such
action is made upon such Security.

      SECTION 105. 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, 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 the attention of

                                       20
<PAGE>
            its Treasurer 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 a Responsible Officer of the
            Trustee by the Company.

      SECTION 106.NOTICE TO HOLDERS; WAIVER.

      Except as otherwise expressly provided herein or in any Security, where
this Indenture provides for notice to Holders of any event,

      (1)   such notice shall be sufficiently given to Holders of Registered
            Securities if in writing and mailed, first-class postage prepaid, to
            each Holder of a Registered Security affected by such event, at his
            address 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; and

      (2)   such notice shall be sufficiently given to Holders of Bearer
            Securities, if any, if published in an Authorized Newspaper in The
            City of New York and, if such Securities are then listed on any
            stock exchange outside the United States, in an Authorized Newspaper
            in such city as the Company shall advise the Trustee that such stock
            exchange so requires, on a Business Day at least twice, the first
            such publication to be not earlier than the earliest date and not
            later than the latest date prescribed for the giving of such notice.

      In any case where 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 or the sufficiency of any notice to Holders of Bearer Securities
given as provided herein. Any notice which is mailed in the manner herein
provided shall be conclusively presumed to have been duly given or provided. In
the 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 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 case by reason of the suspension of publication of any Authorized
Newspaper or Authorized Newspapers or by reason of any other cause it shall be
impracticable to publish any notice to Holders of Bearer Securities as provided
above, then such notification to Holders of Bearer Securities as shall be given
with the approval of the Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither failure to give notice by
publication to Holders of Bearer Securities as provided above, nor any defect in
any notice so published, shall affect the sufficiency of any notice mailed to
Holders of Registered Securities as provided above.

      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.

                                       21
<PAGE>
      SECTION 107. LANGUAGE OF NOTICES.

      Any request, demand, authorization, direction, notice, consent, election
or waiver required or permitted under this Indenture shall be in the English
language, except that, if the Company so elects, any published notice may be in
an official language of the country of publication.

      SECTION 108. CONFLICT WITH TRUST INDENTURE ACT.

      If any provision hereof limits, qualifies or conflicts with the duties
imposed pursuant to Section 318(c) of the Trust Indenture Act, such imposed
duties shall control.

      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 so expressed or not.

      SECTION 111. SEPARABILITY CLAUSE.

      In case any provision in this Indenture, any Security or any Coupon 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, any Security or any Coupon, express or implied,
shall give to any Person, other than the parties hereto, any Security Registrar,
any Paying Agent and their successors hereunder and the Holders of Securities or
Coupon, any benefit or any legal or equitable right, remedy or claim under this
Indenture.

      SECTION 113. GOVERNING LAW.

      This Indenture, the Securities and the Coupons shall be governed by and
construed in accordance with the laws of the State of New York applicable to
agreements made or instruments entered into and, in each case, performed in said
state.

      SECTION 114. LEGAL HOLIDAYS.

      In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security, or the last day on which a Holder has the right to
convert these Securities, is not a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture, any Security or Coupon
other than a provision in any Security or any Coupon that specifically states
that such provision shall apply in lieu of this Section) payment of interest or

                                       22
<PAGE>
any Additional Amounts or principal (and premium, if any) or conversion of the
Securities need not be made at 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, or the last such day of conversion, and no interest
shall accrue on the amount so payable for the period from and after such
Interest Payment Date, Redemption Date or Stated Maturity, as the case may be.

                                   ARTICLE TWO

                                SECURITIES FORMS

      SECTION 201. FORMS GENERALLY.

      Each Registered Security, Bearer Security, Coupon and temporary global
Security issued pursuant to this Indenture shall be in the form established by
or pursuant to a Board Resolution or in one or more indentures supplemental
hereto, shall have appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture or any indenture
supplemental hereto and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may,
consistently herewith, be determined by the officers executing such Security, as
evidenced by their execution of such Security.

      Definitive Securities and definitive Coupons shall be printed,
lithographed or engraved or produced by any combination of these methods on a
steel engraved border or steel engraved borders or may be produced in any other
manner, all as determined by the officers of the Company executing such
Securities or Coupons, as evidenced by their execution of such Securities or
Coupons.

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

      Subject to Section 611, 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.

Dated:                                      THE BANK OF NEW YORK,
                                            as Trustee

                                            By: ________________________
                                                 Authorized Signatory

      SECTION 203. SECURITIES IN GLOBAL FORM.

      If Securities of a series are issuable in global form, any such Security
may provide that it shall represent the aggregate amount of Outstanding
Securities of such series from time to time endorsed thereon and may also
provide that the aggregate amount of Outstanding Securities represented thereby
may from time to time be increased or reduced to reflect exchanges. Any
endorsement of any Security in global form to reflect the amount, or any
increase or decrease in

                                       23
<PAGE>
the amount, or changes in the rights of Holders, of Outstanding Securities
represented thereby shall be made in such manner and by such Person or Persons
as shall be specified therein or in the Company Order to be delivered pursuant
to Section 303 or 304 with respect thereto. Subject to the provisions of Section
303 and, if applicable, Section 304, the Trustee shall deliver and redeliver any
Security in permanent global form in the manner and upon instructions given by
the Person or Persons specified therein 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 a Security in global
form shall be in writing but need not comply with Section 102 and need not be
accompanied by an Opinion of Counsel.

      The provisions of the immediately preceding sentence shall apply to any
Security represented by a 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 102 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 immediately
preceding sentence.

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

      Notwithstanding the provisions of Section 309 and except as provided in
the preceding paragraph, the Company, the Trustee and any agent of the Company
and the Trustee shall treat as the Holder of such principal amount of
Outstanding Securities represented by a permanent global Security (i) in the
case of a permanent global Security in registered form, the Holder of such
permanent global Security in registered form, or (ii) in the case of a permanent
global Security in bearer form, the Person or Persons specified pursuant to
Section 301.

                                  ARTICLE THREE

                                 THE SECURITIES

      SECTION 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES.

      The aggregate principal amount of Securities which 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 one or more Board Resolutions, and set forth in an
Officers' Certificate, or established in one or more indentures supplemental
hereto,

      (1)   the title of the Securities and the series in which such Securities
            shall be included;

      (2)   any limit upon the aggregate principal amount of the Securities of
            such title or the Securities of such series which may be
            authenticated and delivered under this Indenture (except for
            Securities authenticated and delivered upon registration of

                                       24
<PAGE>
            transfer of, or in exchange for, or in lieu of, other Securities of
            the series pursuant to Section 304, 305, 306, 906, 1107 or 1502 or
            the terms of such Securities);

      (3)   whether Securities of the series are to be issuable as Registered
            Securities, Bearer Securities or both and, if the Securities are to
            be issuable exclusively or alternatively as Bearer Securities,
            whether the Bearer Securities are to be issuable with Coupons,
            without Coupons or both, and any restrictions applicable to the
            offer, sale delivery or conversion of the Bearer Securities and the
            terms, if any, upon which Bearer Securities may be exchanged for
            Registered Securities and vice versa;

      (4)   whether any Securities of the series are to be issuable initially or
            otherwise in global form and, if so, (i) whether beneficial owners
            of interests in any such global Security may exchange such interest
            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 specified in
            Section 305, (ii) the name of the depository or the U.S. Depository,
            as the case may be, with respect to any global Security and (iii)
            the manner in which interest payable on a global Security will be
            paid;

      (5)   the date as of which any Bearer Securities of the series and any
            global Security representing Outstanding Securities of the series
            shall be dated if other than the date of original issuance of the
            first Security of the series to be issued;

      (6)   if Securities of the series are to be issuable as Bearer Securities,
            whether interest in respect of any portion of a temporary Bearer
            Security in global form (representing all of the Outstanding Bearer
            Securities of the series) payable in respect of an Interest Payment
            Date prior to the exchange of such temporary Bearer Security for
            definitive Securities of the series shall be paid to any clearing
            organization with respect to the portion of such temporary Bearer
            Security held for its account and, in such event, the terms and
            conditions (including any certification requirements) upon which any
            such interest payment received by a clearing organization will be
            credited to the Persons entitled to interest payable on such
            Interest Payment Date;

      (7)   the date or dates, or the method, if any, by which such date or
            dates shall be determined, on which the principal of such Securities
            is payable;

      (8)   the rate or rates at which such Securities shall bear interest, if
            any, or the method, if any, by which such rate or rates are to be
            determined, the date or dates, if any, from which such interest
            shall accrue or the method, if any, by which such date or dates are
            to be determined, the Interest Payment Dates, if any, on which such
            interest shall be payable and the Regular Record Date, if any, for
            the interest payable on Registered Securities on any Interest
            Payment Date, whether and under what circumstances Additional
            Amounts on such Securities or any of them shall be payable, and the
            basis upon which interest shall be calculated if other than that of
            a 360-day year of twelve 30-day months;

                                       25
<PAGE>
      (9)   the place or places, if any, in addition to or other than the
            Borough of Manhattan, The City of New York, where the principal of
            (and premium, if any) and interest (including Additional Amounts),
            if any, on such Securities shall be payable, any Registered
            Securities of the series may be surrendered for registration of
            transfer, Securities of the series may be surrendered for exchange
            or conversion and notices or demands to or upon the Company in
            respect of the Securities of the series and this Indenture may be
            served;

      (10)  whether the Securities of the series or any of them are to be
            redeemable at the option of the Company and, if so, the period or
            periods within which, the price or prices at which and the other
            terms and conditions upon which such Securities may be redeemed, in
            whole or in part, at the option of the Company;

      (11)  whether the Company is obligated to redeem, or purchase Securities
            of the series or any of them pursuant to any sinking fund or at the
            option of any Holder thereof and, if so, the period or periods
            within which, the price or prices at which and the other terms and
            conditions upon which such Securities shall be redeemed or
            purchased, in whole or in part, pursuant to such obligation, and any
            provisions for the remarketing of the Securities of the series so
            redeemed or purchased;

      (12)  the denominations in which Registered Securities of the series, if
            any, shall be issuable if other than denominations of $1,000 and any
            integral multiple thereof, and the denominations in which Bearer
            Securities of the series, if any, shall be issuable if other than
            the denomination of $5,000;

      (13)  if other than the principal amount thereof, the portion of the
            principal amount of the Securities of the series of any of them
            which shall be payable upon declaration of acceleration of the
            Maturity thereof pursuant to Section 502 or the method by which such
            portion is to be determined;

      (14)  if other than such coin or currency of the United States of America
            as at the time of payment is legal tender for payment of public or
            private debts, the coin or currency, composite currencies or
            currency unit or units in which payment of the principal of (and
            premium, if any) or interest, if any, on or any Additional Amounts
            in respect of the Securities of the series or any of them shall be
            payable;

      (15)  if the principal of (and premium, if any) or interest, if any, on or
            any Additional Amounts in respect of the Securities of the series or
            any of them are to be payable, at the election of the Company or a
            Holder thereof, in a coin or currency, composite currencies or
            currency unit or units other than that in which the Securities of
            the series or any of them are stated to be payable, the period or
            periods within which, and the terms and conditions upon which, such
            election may be made;

      (16)  whether the amount of payments of principal of (and premium, if any)
            or interest (including Additional Amounts), if any, on the
            Securities of the series may be determined with reference to an
            index, formula or other method (which index,

                                       26
<PAGE>
            formula or method may be based, without limitation, on one or more
            currencies, currency units, composite currencies, commodities,
            equity indices or other indices), and, if so, the terms and
            conditions upon which and the manner in which such amounts shall be
            determined and paid or payable;

      (17)  whether the principal of (and premium, if any) or interest
            (including Additional Amounts), if any, on the Securities of the
            series are to be payable, at the election of the Company or any
            Holder thereof or otherwise, in a currency or currencies, currency
            unit or units or composite currency or currencies other than that in
            which such Securities or any of them are denominated or stated to be
            payable, the period or periods within which, and the other terms and
            conditions upon which, such election, if any, may be made, and the
            time and manner of determining the exchange rate between the
            currency or currencies, currency unit or units or composite currency
            or currencies in which such Securities or any of them are
            denominated or stated to be payable and the currency or currencies,
            currency unit or units or composite currency or currencies in which
            such Securities or any of them are to be so payable;

      (18)  any deletions from, modifications of or additions to the Events of
            Default or covenants of the Company with respect to the Securities
            of the series or any of them, whether or not such Events of Default
            or covenants are consistent with the Events of Default or covenants
            set forth herein;

      (19)  the applicability, if any, of Section 403 to the Securities of the
            series and any provisions in modification of, in addition to or in
            lieu of any of the provisions of Section 403;

      (20)  if the Securities of the series or any of them are to be issued upon
            the exercise of warrants, the time, manner and place for such
            Securities to be authenticated and delivered;

      (21)  if the Securities of the series are to be issuable in definitive
            form (whether upon original issue or upon exchange of a temporary
            Security of such series) only upon receipt of certain certificates
            or other documents or satisfaction of other conditions, then the
            form and terms of such certificates, documents or conditions;

      (22)  if there is more than one Trustee, the identity of the Trustee and,
            if not the Trustee, the identity of each Security Registrar, Paying
            Agent and/or Authenticating Agent with respect to the Securities of
            the series;

      (23)  whether any of the Securities of a series shall be issued as
            Original Issue Discount Securities; and

      (24)  any other terms of the Securities of the series or any of them
            (which terms shall not be inconsistent with the provisions of this
            Indenture).

      All Securities of any one series and Coupons appertaining to Bearer
Securities of such series, if any, shall be substantially identical except as to
denomination and the rate or rates of

                                       27
<PAGE>
interest, if any, and Stated Maturity, the date from which interest, if any,
shall accrue and except as may otherwise be provided by the Company in or
pursuant to one or more Board Resolutions and set forth in such Officers'
Certificate or in any indenture or indentures supplemental hereto pertaining to
such series of Securities. All Securities of any one series need not be issued
at the same time and, unless otherwise so provided by the Company, a series may
be reopened for issuances of additional Securities of such series.

      If any of the terms of the Securities of any series were established by
action taken by or pursuant to a Board Resolution, the Board Resolution shall be
delivered to the Trustee at or prior to the delivery of the Officers'
Certificate setting forth the terms of such series.

      SECTION 302. DENOMINATIONS.

      Unless otherwise established with respect to any Securities pursuant to
Section 301, the Registered Securities of each series, if any, denominated in
Dollars shall be issuable in registered form without coupons in denominations of
$1,000 and any integral multiple thereof, and the Bearer Securities of each
series, if any, denominated in Dollars shall be issuable in the denomination of
$5,000. Securities not denominated in Dollars shall be issuable in such
denominations as are established with respect to such Securities pursuant to
Section 301.

      SECTION 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

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

      Securities and Coupons 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, together with any
Coupons appertaining thereto, executed by the Company, to the Trustee for
authentication, and, provided that the Board Resolution or Resolutions and
Officers' Certificate or supplemental indenture or indentures with respect to
such Securities referred to in Section 301 and a Company Order for the
authentication and delivery of such Securities, has been delivered to the
Trustee, the Trustee in accordance with the Company Order and subject to the
provisions hereof of such Securities shall authenticate and deliver such
Securities. In authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities and any
Coupons appertaining thereto, the Trustee shall be entitled to receive, and
(subject to Sections 315(a) through 315(b) of the Trust Indenture Act) shall be
fully protected in relying upon,

      (1)   an Opinion of Counsel stating, to the effect

                                       28
<PAGE>
            (a)   that the form or forms and terms of such Securities and
                  Coupons, if any, have been established in conformity with the
                  provisions of this Indenture;

            (b)   that all conditions precedent to the authentication and
                  delivery of such Securities and Coupons, if any, appertaining
                  thereto, have been complied with and that such Securities, and
                  Coupons, when completed by appropriate insertion and executed
                  and delivered by the Company to the Trustee for authentication
                  pursuant to this Indenture, and 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 legally valid and binding obligations
                  of the Company, enforceable against the Company in accordance
                  with their terms, subject to bankruptcy, insolvency,
                  reorganization, moratorium, fraudulent transfer or other
                  similar laws affecting the enforcement of creditors' rights
                  generally, and subject to general principles of equity
                  (regardless of whether enforcement is sought in a proceeding
                  in equity or at law) and will entitle the Holders thereof to
                  the benefits of the Indenture; such Opinion of Counsel need
                  express no opinion as to the availability of equitable
                  remedies;

            (c)   that all laws and requirements in respect of the execution and
                  delivery by the Company of such Securities and Coupons, if
                  any, have been complied with; and

            (d)   as to such other matters as the Trustee may reasonably
                  request; and

      (2)   an Officers' Certificate stating that, to the best knowledge of the
            Persons executing such certificate, no Event of Default with respect
            to any of the Securities shall have occurred and be continuing.

      If all the Securities of any series are not to be issued at one time, it
shall not be necessary to deliver an Opinion of Counsel and an Officers'
Certificate at the time of issuance of each Security, but such opinion and
certificate, with appropriate modifications, shall be delivered at or before the
time of issuance of the first Security of such series.

      The Trustee shall not be required to authenticate or to cause an
Authenticating Agent to authenticate any 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 which is not reasonably acceptable to the Trustee or if the Trustee,
being advised by counsel, determines that such action may not lawfully be taken
or if the Trustee in good faith shall determine that such action would expose
the Trustee to personal liability to existing Holders.

      Each Registered Security shall be dated the date of its authentication.
Each Bearer Security and any temporary Bearer Security in global form shall be
dated as of the date specified as contemplated by Section 301.

                                       29
<PAGE>
      No Security or Coupon 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 in section 202 or 611 executed by or on behalf of the Trustee by the manual
signature of one of its authorized officers, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder. Except as permitted by
Section 306 or 307, the Trustee shall not authenticate and deliver any Bearer
Security unless all appurtenant Coupons for interest then matured have been
detached and cancelled.

      SECTION 304. TEMPORARY SECURITIES.

      Pending the preparation of definitive Securities of any series, the
Company may execute and deliver to the Trustee and, upon Company Order the
Trustee shall authenticate and deliver, in the manner provided in Section 303,
temporary Securities of such series which 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 or, if authorized, in bearer form with one or
more Coupons or without Coupons and with such appropriate insertions, omissions,
substitutions and other variations as the officers of the Company executing such
Securities may determine, as conclusively evidenced by their execution of such
Securities. In the case of Securities of any series, such temporary Securities
may be in global form.

      Except in the case of temporary Securities in global form, which shall be
exchanged in accordance with the provisions thereof, if temporary Securities of
any series are issued, the Company shall cause definitive Securities of such
series to be prepared without unreasonable delay. After the preparation of
definitive Securities of any series, the temporary Securities of such series, if
any, shall be exchangeable upon request for definitive Securities of such series
containing identical terms and provisions upon surrender of the temporary
Securities of such series at an office or agency of the Company maintained for
such purpose pursuant to Section 1002, without charge to any Holder. Upon
surrender for cancellation of any one or more temporary Securities of any series
(accompanied by any unmatured Coupons appertaining thereto), the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor a
like principal amount of definitive Securities of authorized denominations of
the same series containing identical terms and provisions; PROVIDED, HOWEVER,
that no definitive Bearer Security, except as provided pursuant to Section 301,
shall be delivered in exchange for a temporary Registered Security; and
PROVIDED, FURTHER, that a definitive Bearer Security shall be delivered in
exchange for a temporary Bearer Security only in compliance with the conditions
set forth herein or therein. Unless otherwise specified as contemplated by
Section 301 with respect to a temporary global Security, 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.

      SECTION 305. REGISTRATION, TRANSFER AND EXCHANGE.

      With respect to the Registered Securities of each series, if any, the
Company shall cause to be kept, at an office or agency of the Company maintained
pursuant to Section 1002, a register (each such register being herein sometimes
referred to as the "Security Register") in which,

                                       30
<PAGE>
subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of the Registered Securities of each series and of
transfers of the Registered Securities of such series. In the event that the
Trustee shall not be the Security Registrar, it shall have the right to examine
the Security Register at all reasonable times. National City Bank, Cleveland,
Ohio is hereby initially appointed as Security Registrar for each series of
Securities. In the event that National City Bank shall cease to be Security
Registrar with respect to a series of Securities, the Trustee shall have the
right to examine the Security Register for such series at all reasonable times.

      Upon surrender for registration of transfer of any Registered Security of
any series at any office or agency of the Company maintained for such series
pursuant to Section 1002, 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 of any
authorized denominations, of a like aggregate principal amount bearing a number
not contemporaneously outstanding and containing identical terms and provisions.

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

      If specified as contemplated by Section 301 with respect to Securities of
any series, at the option of the Holder, Bearer Securities of such series may be
exchanged for Registered Securities of such series containing identical terms
and provisions, of any authorized denominations and aggregate principal amount,
upon surrender of the Bearer Securities to be exchanged at any such office or
agency for such series, with all unmatured Coupons and all matured Coupons in
default thereto appertaining. If the Holder of a Bearer Security is unable to
produce any such unmatured Coupon or Coupons or matured Coupon or Coupons in
default, such exchange may be effected if the Bearer Securities are accompanied
by payment in funds acceptable to the Company and the Trustee in an amount equal
to the face amount of such missing Coupon or Coupons, or the surrender of such
missing Coupon or Coupons may be waived by the Company and the Trustee if there
is furnished to them such Security or indemnity as they may require to save each
of them and any Paying Agent harmless. If thereafter the Holder of such Security
shall surrender to any Paying Agent any such missing Coupon in respect of which
such a payment shall have been made, such Holder shall be entitled to receive
the amount of such payment; PROVIDED, HOWEVER, that, except as otherwise
provided in Section 1002, interest represented by Coupons shall be payable only
upon presentation and surrender of those Coupons at an office or agency for such
series located outside the United States. Notwithstanding the foregoing, in case
a Bearer Security of any series is surrendered at any such office or agency in
exchange for a Registered Security of such series and like tenor after the close
of business at such office or agency 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 date for payment of Defaulted Interest,
such Bearer Security shall be surrendered without the Coupon relating to such
Interest Payment Date or proposed date of payment, as the case may be

                                       31
<PAGE>
(or, if such Coupon is so surrendered with such Bearer Security, such Coupon
shall be returned to the person so surrendering the Bearer Security), and
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 the Registered Security issued in exchange for such Bearer Security,
but will be payable only to the Holder of such Coupon when due in accordance
with the provisions of this Indenture.

      If specified as contemplated by Section 301 with respect to Securities of
any series, at the option of the Holder, Registered Securities of such series
may be exchanged for Bearer Securities upon such terms and conditions as may be
provided pursuant hereto with respect to such series.

      Whenever any Securities are so surrendered for exchange as contemplated by
the immediately preceding two paragraphs, the Company shall execute, and the
Trustee shall authenticate and deliver, the Securities which the Holder making
the exchange is entitled to receive.

      Notwithstanding the foregoing, except as otherwise specified as
contemplated by Section 301, any global Security of any series shall be
exchangeable for Securities of such series only if (i) the Securities Depository
is at any time unwilling or unable or ineligible to continue as Securities
Depository and a successor depository is not appointed by the Company within 90
days of the date the Company is so notified in writing, (ii) the Company
executes and delivers to the Trustee a Company Order to the effect that such
global Security shall be so exchangeable, or (iii) an Event of Default has
occurred and is continuing with respect to the Securities. If the beneficial
owners of interests in a global Security are entitled to exchange such interests
for Securities of such series and of like tenor and principal amount of any
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 aggregate principal amount equal
to the principal amount of such global Security, executed by the Company. On or
after the earliest date on which such interests may be so exchanged, such global
Security shall be surrendered from time to time by the U.S. Depository or such
other depository as shall be specified in the Company Order with respect
thereto, and in accordance with instructions given to the Trustee and the U.S.
Depository or such other depository, as the case may be (which instructions
shall be in writing but need not comply with Section 102 or be accompanied by an
Opinion of Counsel), 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. The Trustee shall authenticate and make available for delivery,
in exchange for each portion of such surrendered global Security, a like
aggregate principal amount of definitive Securities of the same series of
authorized denominations and of like tenor as the portion of such global
Security to be exchanged which (unless the Securities of such series are not
issuable both as Bearer Securities and as Registered Securities, in which case
the definitive Securities exchanged for the global Security shall be issuable
only in the form in which the Securities are issuable, as specified as
contemplated by Section 301) shall be in the form of Bearer Securities or
Registered Securities, or any combination thereof, as shall be specified by the
beneficial owner thereof; PROVIDED, HOWEVER, that no such exchanges may occur
during a period beginning at the opening of

                                       32
<PAGE>
business 15 days before any selection of Securities of such series to be
redeemed and ending on the relevant Redemption Date; and provided, further, that
(unless otherwise specified as contemplated by Section 301) no Bearer Security
delivered in exchange for a portion of a global Security shall be mailed or
otherwise delivered to any location in the United States. Promptly following any
such exchange in part, such global Security shall be returned by the Trustee to
such Depository or the U.S. Depository, as the case may be, or such other
Depository or U.S. Depository 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 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 interest or Defaulted Interest, as the case may be, interest 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 global Security
is payable in accordance with the provisions of this Indenture.

      All Securities endorsed thereon issued upon any registration of transfer
or exchange of Securities shall be the valid obligations of the Company
evidencing the same debt, and entitling the Holders thereof 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, redemption or conversion shall (if so required by the
Company or the Security Registrar for such series of Security presented) be duly
endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Company and such 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, redemption or conversion 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 exchanges pursuant to Section 304, 906 or 1107 not
involving any transfer.

      Except as otherwise specified as contemplated by Section 301, the Company
shall not be required (i) to issue, register the transfer of or exchange any
Securities of any series during a period beginning at the opening of business 15
days before the day of the selection for redemption of Securities of such series
under Section 1103 and ending at the close of business on the day of such
selection, or (ii) to register the transfer of or exchange any Registered
Security so selected for redemption in whole or in part, except in the case of
any Security to be redeemed in part, the portion thereof not to be redeemed, or
(iii) to exchange any Bearer Security so selected for redemption except, to the
extent provided with respect to such Security, that such a Bearer Security may
be exchanged for a Registered Security of that series, provided that such
Registered Security shall be immediately surrendered for redemption with written
instruction for payment consistent with the provisions of this Indenture or (iv)
to issue, register the transfer of or exchange any Security which, in accordance
with its terms specified as contemplated by Section

                                       33
<PAGE>
301, has been surrendered for repayment at the option of the Holder, except the
portion, if any, of such Security not to be repaid.

      SECTION 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.

      If any mutilated Security or a Security with a mutilated Coupon
appertaining to it is surrendered to the Trustee, subject to the provisions of
this Section 306, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a new Security of the same series containing
identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons corresponding to the Coupons, if
any, appertaining to the surrendered Security.

      If there be delivered to the Company and to the Trustee (i) evidence to
their satisfaction of the destruction, loss or theft of any Security or Coupon,
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 or Coupon has been acquired by a
bona fide purchaser, the Company shall execute and upon its request the Trustee
shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Security or in exchange for the Security to
which a destroyed, lost or stolen Coupon appertains with all appurtenant Coupons
not destroyed, lost or stolen, a new Security of the same series containing
identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons corresponding to the Coupons, if
any, appertaining to such destroyed, lost or stolen Security or to the Security
to which such destroyed, lost or stolen Coupon appertains.

      Notwithstanding the foregoing provisions of this Section 306, in case any
such mutilated, destroyed, lost or stolen Security or Coupon 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 or Coupon; PROVIDED, HOWEVER, that
payment of principal of (and premium, if any) and any interest on Bearer
Securities shall, except as otherwise provided in Section 1002, be payable only
at an office or agency located outside the United States and, unless otherwise
specified as contemplated by Section 301, any interest on Bearer Securities
shall be payable only upon presentation and surrender of the Coupons
appertaining thereto.

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

      Every new Security of any series, with its Coupons, if any, issued
pursuant to this Section in lieu of any destroyed, lost or stolen Security and
its Coupons, if any, or the destroyed, lost or stolen Coupon shall constitute a
separate obligation of the Company, whether or not the destroyed, lost or stolen
Security and its Coupons, if any, or the destroyed, lost or stolen Coupon 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 and their Coupons, if any.

                                       34
<PAGE>

         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 or Coupons.

         SECTION 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

         Unless otherwise specified as contemplated by Section 301, 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 as of
the close of business on the Regular Record Date for such interest. In case a
Bearer Security of any series is surrendered in exchange for a Registered
Security of such series after the close of business (at an office or agency in a
Place of Payment for such series) on any Regular Record Date and before the
opening of business (at such office or agency) on the next succeeding Interest
Payment Date, such Bearer Security shall be surrendered without the Coupon
relating to such Interest Payment Date and interest will not be payable on such
Interest Payment Date in respect of the Registered Security issued in exchange
of such Bearer Security, but will be payable only to the Holder of such Coupon
when due in accordance with the provisions of this Indenture.

         Any interest on any Registered Security of any series which shall be
payable, but shall not be punctually paid or duly provided for, on any Interest
Payment Date for such Registered Security (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 affected (or their respective Predecessor
                  Securities) are registered at the close of business on a
                  Special Record Date for the payment of such Defaulted
                  Interest, which shall be fixed in the following manner. The
                  Company shall notify the Trustee in writing of the amount of
                  Defaulted Interest proposed to be paid on each such Registered
                  Security and the date of the proposed payment, and at the same
                  time the Company shall deposit with the Trustee an amount of
                  money equal to the aggregate amount proposed to be paid in
                  respect of such Defaulted Interest or shall make arrangements
                  satisfactory to the Trustee for such deposit on or prior to
                  the date of the proposed payment. Money will be held in trust
                  for the benefit of the Persons entitled to such Defaulted
                  Interest as in this Clause provided. Thereupon, the Trustee
                  shall fix a Special Record Date for the payment of such
                  Defaulted Interest which shall be not more than 15 days and
                  not less than 10 days prior to the date of the proposed
                  payment and not less than 10 days after the receipt by the
                  Trustee of the notice of the proposed payment. The Trustee
                  shall promptly notify the 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 such Registered Securities
                  at his address as it appears in the Security Register not less
                  than 10 days prior to such Special Record Date. Notice

                                       35
<PAGE>
                  of the proposed payment of such Defaulted Interest and the
                  Special Record Date therefor having been mailed as aforesaid,
                  such Defaulted Interest shall be paid to the Persons in whose
                  names such Registered Securities (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). In case a Bearer
                  Security of any series is surrendered at the office or agency
                  in a Place of Payment for such series in exchange for a
                  Registered Security of such series after the close of business
                  at such office or agency on 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, such
                  Bearer Security shall be surrendered without the Coupon
                  relating to such proposed date of payment and Defaulted
                  Interest will not be payable on such proposed date of payment
                  in respect of the Registered Security issued in exchange for
                  such Bearer Security, but will be payable only to the Holder
                  of such Coupon when due in accordance with the provisions of
                  this Indenture.

         (2)      The Company may make payment of any Defaulted Interest 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 payment
                  shall be deemed practicable by the Trustee.

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

         Subject to the foregoing provisions of this Section and Section 305,
each Security delivered under this Indenture upon registration of transfer of or
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 or any Additional Amounts with respect to, such Registered Security
and for all other purposes whatsoever, whether or not any payment with respect
to such Registered 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.

         The Company, the Trustee and any agent of the Company or the Trustee
may treat the bearer of any Bearer Security and the bearer of any Coupon as the
absolute owner of such Security or Coupon for the purpose of receiving payment
thereof or on account thereof and for

                                       36
<PAGE>
all other purposes whatsoever, whether or not any payment with respect to such
Security or Coupon 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 and Coupons 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 or the
Security Registrar, be delivered to the Trustee or the Security Registrar, and
any such Securities and Coupons and Securities and Coupons surrendered directly
to the Trustee or the Security Registrar for any such purpose shall be promptly
cancelled by the Trustee or the Security Registrar, as the case may be. The
Company may at any time deliver to the Trustee or the Security Registrar 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 or the Security
Registrar, as the case may be. 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 or as otherwise specified as
contemplated by Section 301. All cancelled Securities and Coupons held by the
Trustee or the Security Registrar shall be returned to the Company by the
Trustee or the Security Registrar, as the case may be, upon a Company Order. The
Trustee shall promptly notify the Company of all cancelled 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 360-day year of 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 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. The Company will promptly notify
the Trustee of any change in the "CUSIP" numbers.

                                 ARTICLE FOUR.

                           SATISFACTION AND DISCHARGE

         SECTION 401. SATISFACTION AND DISCHARGE OF INDENTURE.

         Upon the direction of the Company by a Company Order, this Indenture
shall cease to be of further effect with respect to any series of Securities
specified in such Company Order (except as to any surviving rights of
registration of transfer or exchange of Securities of such series

                                       37
<PAGE>
herein expressly provided for and any right to receive Additional Amounts, as
provided in Section 1004), and the Trustee, on receipt of a Company Order, at
the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture as to such series, when

         (1)      either

                  (A)      all Securities of such series theretofore
                           authenticated and delivered and all Coupons
                           appertaining thereto (other than (i) Coupons
                           appertaining to Bearer Securities of such series
                           surrendered for exchange for Registered Securities of
                           such series and maturing after such exchange, whose
                           surrender is not required or has been waived as
                           provided in Section 305, (ii) Securities and Coupons
                           of such series which have been destroyed, lost or
                           stolen and which have been replaced or paid as
                           provided in Section 306, (iii) Coupons appertaining
                           to Securities of such series called for redemption
                           and maturing after the relevant Redemption Date,
                           whose surrender has been waived as provided in
                           Section 1107, and (iv) Securities and Coupons 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 Securities of such series and, in the case of (i)
                           or (ii) below, any such Coupons appertaining thereto
                           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 and such Securities
                                    are not convertible into other Securities,
                                    or

                           (iii)    if redeemable at the option of the Company,
                                    such Securities are not convertible into
                                    other Securities and 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 (i), (ii) or (iii) above, has
                  deposited or caused to be deposited with the Trustee as trust
                  funds in trust for the purpose, lawful money of the United
                  States Government Obligations which through the payment of
                  interest and principal or other amounts in respect thereof in
                  accordance with their terms will provide not later than the
                  opening of business on the due dates of any payment of
                  principal (and premium, if any) and interest, or any
                  Additional Amounts with respect thereto, or a combination
                  thereof, in an amount sufficient to pay and discharge the
                  entire indebtedness on such Securities and Coupons not

                                       38
<PAGE>
                  theretofore delivered to the Trustee for cancellation, for
                  principal (and premium, if any) and interest, or any
                  Additional Amounts with respect thereto, 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 as to such series
                  have been complied with.

         In the event there are two or more Trustees hereunder, then the
effectiveness of any such instrument shall be conditioned upon receipt of such
instruments from all Trustees hereunder.

         Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 606 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of
this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive such satisfaction and discharge.

         SECTION 402. APPLICATION OF TRUST MONEY.

         Subject to the provisions of the last paragraph of Section 1003, all
money deposited with the Trustee pursuant to Section 401 or this section 402
shall be held in trust and applied by it, in accordance with the provisions of
the Securities, the Coupons and this Indenture, to the payment, either directly
or through any Paying Agent (including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Persons entitled thereto, of the
principal (and premium, if any) and any interest or any Additional Amounts for
whose payment such money has been deposited with the Trustee; but such money
need not be segregated from other funds except to the extent required by law.

         All monies deposited with the Trustee pursuant to Section 401 (and held
by it or any Paying Agent) for the payment of Securities subsequently converted
shall be returned to the Company upon Company Request.

         SECTION 403. SATISFACTION, DISCHARGE AND DEFEASANCE OF SECURITIES OF
ANY SERIES.

         If pursuant to Section 301 provision is made for defeasance of
Securities of any series pursuant to Section 403, the Company shall be deemed to
have paid and discharged the entire indebtedness on all the Outstanding
Securities of such series and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of such
indebtedness, when

         (1)      either

                                       39
<PAGE>
                  (A)      with respect to all Outstanding Securities of such
                           series and any Coupons appertaining thereto,

                           (i)      the Company has deposited or caused to be
                                    deposited with the Trustee, as trust funds
                                    in trust for such purpose, an amount
                                    sufficient to pay and discharge the entire
                                    indebtedness on all Outstanding Securities
                                    of such series for principal (and premium,
                                    if any), any Additional Amounts, and
                                    interest to the Stated Maturity or any
                                    Redemption Date as contemplated by the
                                    penultimate paragraph of this Section 403,
                                    as the case may be; or

                           (ii)     with respect to any Series of Securities
                                    which are denominated in United States
                                    dollars, the Company has deposited or caused
                                    to be deposited with the Trustee, as
                                    obligations in trust for such purpose, such
                                    amount of direct obligations of, or
                                    obligations the timely payment of the
                                    principal of and interest on which are fully
                                    guaranteed by, the United States of America
                                    and which are not callable at the option of
                                    the issuer thereof as will, together with
                                    the income to accrue thereon without
                                    consideration of any reinvestment thereof,
                                    be sufficient to pay and discharge the
                                    entire indebtedness on all Outstanding
                                    Securities of such series for principal (and
                                    premium, if any), any Additional Amounts,
                                    and interest to the stated Maturity or any
                                    Redemption Date as contemplated by the
                                    penultimate paragraph of this Section 403;
                                    or

                  (B)      the Company has properly fulfilled such other means
                           of satisfaction and discharge as is specified, as
                           contemplated by Section 301, to be applicable to the
                           Securities of such series; and

         (2)      the Company has paid or caused to be paid all other sums
                  payable hereunder with respect to the Outstanding Securities
                  of such series; and

         (3)      the Company has delivered to the Trustee a certificate signed
                  by a nationally recognized firm of Independent Public
                  Accountants certifying as to the sufficiency of the amounts
                  deposited pursuant to subsections (A) (i) or (ii) of this
                  Section for payment of the principal (and premium, if any) and
                  interest on the dates such payments are due, an Officers'
                  Certificate and an Opinion of Counsel, each such Certificate
                  and opinion stating that no Event of Default or event which
                  with notice or lapse of time or both would become an Event of
                  Default with respect to such Securities shall have occurred
                  and all conditions precedent herein provided for relating to
                  the satisfaction and discharge of the entire indebtedness on
                  all Outstanding Securities of any such series have been
                  complied with; and

         (4)      the Company has delivered to the Trustee

                  (A)      a ruling from the Internal Revenue Service or an
                           opinion of independent counsel that the holders of
                           the Securities of such series will not recognize

                                       40
<PAGE>
                           income, gain or loss for Federal income tax purposes
                           as a result of such deposit, defeasance and discharge
                           and will be subject to Federal income tax on the same
                           amount and in the same manner and at the same times,
                           as would have been the case if such deposit,
                           defeasance and discharge had not occurred; and

                  (B)      if the Securities of such series are then listed on
                           the New York Stock Exchange, an Opinion of Counsel
                           that the Securities of such series will not be
                           delisted as a result of the exercise of this option.

         Any deposits with the Trustee referred to in subsection (1) (A) of this
Section shall be irrevocable and shall be made under the terms of an escrow
trust agreement in form and substance satisfactory to the Trustee. If any
Outstanding Securities of such series are to be redeemed prior to their Stated
Maturity, whether pursuant to any optional redemption or repayment provisions or
in accordance with any mandatory sinking fund requirement, the Company shall
make such arrangements as are satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the
Company.

         Upon the satisfaction of the conditions set forth in this Section 403
with respect to all the Outstanding Securities of any series, the terms and
conditions of such series, including the terms and conditions with respect
thereto set forth in this Indenture, other than the provisions of Sections 305,
306, and 1002, other than the right of Holders of Securities and any Coupons of
such series to receive, from the trust fund described in this Section, payment
of the principal (and premium, if any) of, the interest on or any Additional
Amounts with respect to such Securities and Coupons (if any) appertaining
thereto when such payments are due, other than any right of conversion of such
Securities and the rights, powers, duties and immunities of the Trustee
hereunder, shall no longer be binding upon, or applicable to, the Company except
those responsibilities and obligations which by the terms of the Indenture
survive the termination of the Indenture; PROVIDED that the Company shall not be
discharged from any payment obligations in respect of Securities of such series
which are deemed not to be Outstanding under clause (iii) of the definition
thereof if such obligations continue to be valid obligations of the Company
under applicable law.

                                 ARTICLE FIVE.

                                    REMEDIES

         SECTION 501. EVENTS OF DEFAULT.

         "Event of Default", wherever used herein with respect to Securities of
any series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be voluntary or be effected by operation
of law pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body):

         (1)      default in the payment of any interest upon or any Additional
                  Amounts payable in respect of any Security of such series when
                  such interest becomes or Additional

                                       41
<PAGE>
                  Amounts become due and payable, and continuance of such
                  default for a period of 30 days; or

         (2)      default in the payment of the principal of (and premium, if
                  any, on) any Security of that series when it becomes due and
                  payable at Maturity; or

         (3)      default in the deposit of any sinking fund payment, when and
                  as due by the terms of a Security of that series; or

         (4)      default in the performance, or breach, of any covenant or
                  warranty of the Company in this Indenture or the Securities
                  (other than a covenant or warranty a default in the
                  performance or the breach of which is elsewhere in this
                  Section specifically dealt with or which has been expressly
                  included in this Indenture solely for the benefit of a series
                  of Securities other than such series), and continuance of such
                  default or breach for a period of 90 days after there has been
                  given, by registered or certified mail, to the Company by the
                  Trustee or to the Company and the Trustee by the Holders of at
                  least 25% in principal amount of the Outstanding Securities of
                  that series a written notice specifying such default or breach
                  and requiring it to be remedied and stating that such notice
                  is a "Notice of Default" hereunder; or

         (5)      if any event of default as defined in any mortgage, indenture
                  or instrument under which there may be issued, or by which
                  there may be secured or evidenced, any indebtedness of the
                  Company or any Principal Constituent Bank for money borrowed,
                  whether such indebtedness now exists or shall hereafter be
                  created, shall happen and shall result in such indebtedness in
                  principal amount in excess of $25,000,000 becoming or being
                  declared due and payable prior to the date on which it would
                  otherwise become due and payable, and such acceleration shall
                  not be rescinded or annulled, or such indebtedness shall not
                  have been discharged, within a period of 30 days after there
                  shall have been given, by registered or certified mail, to the
                  Company by the Trustee or to the Company and the Trustee by
                  the Holders of at least 25% in principal amount of the
                  outstanding Securities of such series, a written notice
                  specifying such event of default and requiring the Company to
                  cause such acceleration to be rescinded or annulled or to
                  cause such indebtedness to be discharged and stating that such
                  notice is a "Notice of Default" hereunder; or

         (6)      a court having jurisdiction in the premises shall enter a
                  decree or order for relief in respect of the Company or a
                  Principal Constituent Bank in an involuntary case under any
                  applicable bankruptcy, insolvency or other similar law now or
                  hereafter in effect, and adjudging it a bankrupt or insolvent
                  or appointing a receiver, liquidator, assignee, custodian,
                  trustee, sequestrator (or similar official) of the Company or
                  a Principal Constituent Bank or for any substantial part of
                  its property, or ordering the winding-up or liquidation of its
                  affairs, and such decree or order shall remain unstayed and in
                  effect for a period of 60 consecutive days; or

                                       42
<PAGE>
         (7)      the Company or a Principal Constituent Bank shall commence a
                  voluntary case under any applicable bankruptcy, insolvency or
                  other similar law now or hereafter in effect, or shall consent
                  to the entry of an order for relief in any involuntary case
                  under any such law, or shall consent to the appointment of or
                  taking possession by a receiver, liquidator, assignee,
                  trustee, custodian, sequestrator (or similar official) of the
                  Company or a Principal Constituent Bank or for any substantial
                  part of its property, or shall make any general assignment for
                  the benefit of creditors, or shall fail generally to pay its
                  debts as they become due or shall take any corporate action in
                  furtherance of any of the foregoing; or

         (8)      any other Event of Default provided with respect to Securities
                  of such series.

         SECTION 502. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

         If an Event of Default with respect to Securities of any series at the
time outstanding occurs and is continuing, then the Trustee or the Holders of
not less than 25% in principal amount of the Outstanding Securities of that
series may declare the principal of all the Securities of that series, or such
lesser amount as may be provided for in the Securities of that series, to be due
and payable immediately, by a notice in writing to the Company (and to the
Trustee if given by the Holders), and upon any such declaration such principal
or such lesser amount shall become immediately due and payable.

         At any time after such a declaration of acceleration with respect to
Securities of any series has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter in this
Article provided, the Holders of not less than a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if

         (1)      the Company has paid or deposited with the Trustee a sum
                  sufficient to pay

                  (A)      all overdue installments of interest on and any
                           Additional Amounts payable in respect of all
                           Securities of such series,

                  (B)      the principal of (and premium, if any, on) any
                           Securities of such series which have become due
                           otherwise than by such declaration of acceleration
                           and interest thereon at the rate or rates borne by or
                           provided for in such Securities,

                  (C)      to the extent that payment of such interest is
                           lawful, interest upon overdue installments of
                           interest or any Additional Amounts at the rate or
                           rates borne by or provided for in such Securities,
                           and

                  (D)      all sums paid or advanced by the Trustee hereunder
                           and the reasonable compensation, expenses,
                           disbursements and advances of the Trustee, its agents
                           and counsel as provided in Section 606 hereof; and

         (2)      all Events of Default with respect to Securities of such
                  series, other than the non-payment of the principal of
                  Securities of that series which has become due solely

                                       43
<PAGE>
                  by such declaration of acceleration, have been cured or waived
                  as provided in Section 513.

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

         SECTION 503. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
TRUSTEE.

         The Company covenants that if

         (1)      default is made in the payment of any installment of interest
                  on or any Additional Amounts payable in respect of any
                  Security when such interest or Additional Amounts shall have
                  become due and payable and such default continues for a period
                  of 30 days, or

         (2)      default is made in the payment of the principal of (or
                  premium, if any, on) any Security at its Maturity,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities and any Coupons appertaining thereto, the whole
amount then due and payable on such Securities and Coupons for principal (and
premium, if any) and interest or Additional Amounts, if any, with interest upon
the overdue principal (and premium, if any) and, to the extent that payment of
such interest shall be legally enforceable, upon overdue installments of
interest or any Additional Amounts, at the rate or rates borne by or provided
for in such Securities, and, in addition thereto, 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.

         If the Company fails to pay such amounts forthwith upon such demand,
the Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, and may
prosecute such proceeding to judgment or final decree, and may enforce the same
against the Company or any other obligor upon such Securities and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever
situated.

         If an Event of Default with respect to Securities of any series occurs
and is continuing, the Trustee may in its discretion proceed to protect and
enforce its rights and the rights of the Holders of Securities of such series
and any Coupons appertaining thereto by such appropriate judicial proceedings as
the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this
Indenture or such Securities or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy.

         SECTION 504. TRUSTEE MAY FILE PROOFS OF CLAIM.

         In case of the pendency of any receivership, insolvency, liquidation,
bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or any other obligor upon the
Securities or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Securities

                                       44
<PAGE>
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of any overdue principal or interest) shall be
entitled and empowered, by intervention in such proceeding or otherwise,

         (1)      to file and prove a claim for the whole amount or such lesser
                  amount as may be provided for in the Securities of such
                  series, of principal (and premium, if any) and interest and
                  any Additional Amounts owing and unpaid in respect of the
                  Securities and any Coupons appertaining thereto and to file
                  such other papers or documents as may be necessary or
                  advisable in order to have the claims of the Trustee
                  (including any claim for the reasonable compensation,
                  expenses, disbursements and advances of the Trustee, its
                  agents or counsel) and of the Holders allowed in such judicial
                  proceeding, and

         (2)      to collect and receive any moneys or other property payable or
                  deliverable on any such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder of Securities or Coupons 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 of Securities or Coupons, 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 606.

         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 a Security
or Coupon any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or Coupons or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Holder of a
Security or Coupon in any such proceeding.

         SECTION 505. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF
SECURITIES OR COUPONS.

         All rights of action and claims under this Indenture or any of the
Securities or coupons may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or Coupons or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any
recovery or judgment, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, shall be for the ratable benefit of the Holders of the Security and
Coupon in respect of which such judgment has been recovered.

         SECTION 506. APPLICATION OF MONEY COLLECTED.

         Any money collected by the Trustee pursuant to this Article shall be
applied in the following order, at the date or dates fixed by the Trustee and,
in case of the distribution of such money on account of principal (and premium,
if any), interest or any Additional Amounts, upon

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<PAGE>
presentation of the Securities or Coupons, or both, as the case may be, and the
notation thereon of the payment if only partially paid and upon surrender
thereof if fully paid:

         FIRST:   To the payment of all amounts due the Trustee and any
                  predecessor Trustee under Section 606;

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

         THIRD:   The balance, if any, to the Company.

         SECTION 507. LIMITATION ON SUITS.

         No Holder of any Security of any series or any related Coupons shall
have any right to institute any proceeding, judicial or otherwise, with respect
to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless

         (1)      such Holder has previously given written notice to the Trustee
                  of a continuing Event of Default with respect to the
                  Securities of such series;

         (2)      the Holders of not less than 25% in principal amount of the
                  Outstanding Securities of that series shall have made written
                  request to the Trustee to institute proceedings in respect of
                  such Event of Default in its own name as Trustee hereunder;

         (3)      such Holder or Holders have offered indemnity reasonably
                  satisfactory to the Trustee against the costs, expenses and
                  liabilities to be incurred in compliance with such request;

         (4)      the Trustee for 60 days after its receipt of such notice,
                  request and offer of indemnity has failed to institute any
                  such proceeding; and

         (5)      no direction inconsistent with such written request has been
                  given to the Trustee during such 60-day period by the Holders
                  of a majority in principal amount of the Outstanding
                  Securities of such series;

it being understood and intended that no one or more of such Holders shall have
any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture or any Security to affect, disturb or prejudice the rights of
any other such Holders or Holders of Securities of any other series, or to
obtain or to seek to obtain priority or preference over any other Holders or to
enforce any right under this Indenture, except in the manner herein provided and
for the equal and ratable benefit of all such Holders.

                                       46
<PAGE>
         SECTION 508. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL,
PREMIUM, INTEREST AND ADDITIONAL AMOUNTS.

         Notwithstanding any other provision in this Indenture, the Holder of
any Security or coupon shall have the right, which is absolute and
unconditional, to receive payment of the principal of (and premium, if any) and
(subject to Sections 305 and 307) interest on or any Additional Amounts in
respect of such Security or payment of such Coupon on the respective Stated
Maturity or Maturities specified in such Security or Coupon (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of
any such payment, and such right shall not be impaired without the consent of
such Holder.

         SECTION 509. RESTORATION OF RIGHTS AND REMEDIES.

         If the Trustee or any Holder of a Security or Coupon has instituted any
proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Trustee or to such Holder, then and in every such
case the Company, the Trustee and each such Holder shall, subject to any
determination in such proceeding, be restored severally and respectively to
their former positions hereunder, and thereafter all rights and remedies of the
Trustee and each such Holder shall continue as though no such proceeding had
been instituted.

         SECTION 510. RIGHTS AND REMEDIES CUMULATIVE.

         Except as otherwise provided with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities or Coupons in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved
to the Trustee or to the Holders of a Security or Coupon is intended to be
exclusive of any other right or remedy, and every right and remedy, to the
extent permitted by law, shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

         SECTION 511. DELAY OR OMISSION NOT WAIVER.

         No delay or omission of the Trustee or of any Holder of any Security or
coupon to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of
Default or an acquiescence therein. Every right and remedy given by this Article
or by law to the Trustee or to the Holders of Securities or Coupons may be
exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders of Securities or Coupons, as the case may be.

         SECTION 512. CONTROL BY HOLDERS.

         The Holders of a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee or
exercising any trust or power conferred on the Trustee with respect to the
Securities of such series and any Coupons appertaining thereto, PROVIDED that

                                       47
<PAGE>
         (1)      such direction shall not be in conflict with any rule of law
                  or with this Indenture,

         (2)      the Trustee may take any other action deemed proper by the
                  Trustee which is not inconsistent with such direction, and

         (3)      such direction is not unduly prejudicial to the rights of
                  other Holders of Securities of such series.

         SECTION 513. WAIVER OF PAST DEFAULTS.

         The Holders of not less than a majority in principal amount of the
outstanding Securities of any series may on behalf of the Holders of all the
Securities of such Series and any Coupons appertaining thereto waive any past
default hereunder with respect to such series and its consequences, except a
default

         (1)      in the payment of the principal of (and premium, if any) or
                  interest on or Additional Amounts payable in respect of any
                  Security of such series or any Coupons appertaining thereto,
                  or

         (2)      in respect of a covenant or provision hereof which under
                  Article Nine cannot be modified or amended without the consent
                  of the Holder of each Outstanding Security of such series
                  affected.

         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 514. WAIVER OF STAY OR EXTENSION LAWS.

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

                                  ARTICLE SIX

                                  THE TRUSTEE

         SECTION 601. NOTICE OF DEFAULTS.

         Within 90 days after the occurrence of any default hereunder with
respect to the Securities of any series, the Trustee shall transmit to the
Holders in the manner and to the extent

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<PAGE>
provided in Section 313(c) of the Trust Indenture Act, notice of such default
hereunder known to a Responsible Officer of the Trustee, unless such default
shall have been cured or waived; PROVIDED, HOWEVER, that, except in the case of
a 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 determine
that the withholding of such notice is in the interests of the Holders of
Securities and Coupons of such series; and PROVIDED further, that in the case of
default of the character specified in Section 501(4) with respect to Securities
of such series, no such notice to Holders shall be given until at least 60 days
after the occurrence thereof. For the purpose of this Section, the term
"default" means any event which is, or after notice or lapse of time or both
would become, an Event of Default, with respect to Securities of such series.

         SECTION 602. CERTAIN RIGHTS OF TRUSTEE.

         Subject to the provisions of Sections 315(a) through 315(d) of the
Trust Indenture Act:

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

         (2)      any request or direction of the Company mentioned herein shall
                  be sufficiently evidenced by a Company Request or a Company
                  Order (other than delivery of any Security, together with any
                  Coupons appertaining thereto to the Trustee for authentication
                  and delivery pursuant to Section 303 which shall be
                  sufficiently evidenced as provided therein) and any resolution
                  of the Board of Directors may be sufficiently evidenced by a
                  Board Resolution or Board Resolutions;

         (3)      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,
                  conclusively rely upon an Officers' Certificate;

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

         (5)      the Trustee shall be under no obligation to exercise any of
                  the rights or powers vested in it by this Indenture at the
                  request or direction of any of the Holders of Securities of
                  any series or any Coupons appertaining thereto pursuant to
                  this Indenture, unless such Holders shall have offered to the
                  Trustee reasonable

                                       49
<PAGE>
                  Security or indemnity satisfactory to it against the costs,
                  expenses and liabilities which might be incurred by it in
                  compliance with such request or direction;

         (6)      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 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 at the sole cost to the
                  Company and shall incur no liability or additional liability
                  of any kind by reason of such inquiry or investigation;

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

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

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

         (10)     the rights, privileges, protections, immunities and benefits
                  given to the Trustee, including, without limitation, its right
                  to be indemnified, are extended to, and shall be enforceable
                  by, the Trustee in each of its capacities hereunder, and to
                  each agent, custodian and other Person employed to act
                  hereunder.

         SECTION 603. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

         The recitals contained herein and in the Securities, except the
Trustee's certificate of authentication, and in any coupons shall be taken as
the statements of the Company and neither the Trustee nor any Authenticating
Agent assumes responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the
Securities or Coupons, except that the Trustee represents that it is duly
authorized to execute and deliver this Indenture, authenticate the Securities
and perform its obligations hereunder and that the statements made by it in a
Statement of Eligibility and Qualification on Form T-l supplied to the Company
are true and accurate, subject to the qualifications set forth therein. The
Trustee or any Authenticating Agent shall not be accountable for the use or
application by the Company of Securities or the proceeds thereof.

         SECTION 604. MAY HOLD SECURITIES.

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<PAGE>
         The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other Person that may be an agent of the Trustee or the
Company, in its individual or any other capacity, may become the owner or
pledgee of Securities and Coupons and, subject to Sections 310(b) and 311 of the
Trust Indenture Act, may otherwise deal with the Company with the same rights it
would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other Person.

         SECTION 605. 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 and shall be held
uninvested. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed with the Company.

         SECTION 606. COMPENSATION AND REIMBURSEMENT.

         The Company agrees

         (1)      to pay to the Trustee from time to time such compensation for
                  all services rendered by it hereunder as shall be mutually
                  agreed upon by the Company and the Trustee in writing (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
                  reasonable 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 each of the Trustee and any predecessor Trustee
                  and its agents for, and to hold them harmless against, any
                  loss, liability, claim, damage or expense including taxes
                  (other than taxes based upon, measured by or determined by the
                  income of the Trustee) incurred without negligence or bad
                  faith on 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 their powers or duties hereunder.

         As Security for the performance of the obligations of the Company under
this Section, the Trustee shall have a lien prior to the Securities of any
series upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the payment of principal of (or premium, if any)
or interest on Securities. When the Trustee incurs expenses or renders services
after an Event of Default occurs, the expenses and compensation for the services
of the Trustee are intended to constitute expenses of administration under any
bankruptcy law or any similar federal or state law for the relief of debtors.

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<PAGE>
         The provisions of this Section 606 shall survive the termination of
this Indenture and the resignation or removal of the Trustee.

         SECTION 607. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY; CONFLICTING
INTERESTS.

         There shall at all times be a Trustee hereunder that is a corporation
permitted by Section 310(a) (1) and (5) of the Trust Indenture Act to act as
trustee under the Trust Indenture Act and that has a combined capital and
surplus (computed in accordance with Section 310(a) (2) of the Trust Indenture
Act) of at least $50,000,000. 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. If the Trustee has or shall acquire any conflicting interest, as
defined in Section 310(b) of the Trust Indenture Act, with respect to the
Securities of any series, the Trustee shall take such action as is required
pursuant to said Section 310 (b).

         SECTION 608. 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 pursuant to Section 609.

         (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 609 shall
not have been delivered to the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor
Trustee with respect to 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 the
Company. If an instrument of acceptance by a successor Trustee shall not have
been delivered to the Trustee within 30 days after the giving of such notice of
removal, the Trustee being removed may petition, at the expense of the Company,
any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

         (d) If at any time:

         (1)      the Trustee shall fail to comply with the obligations imposed
                  upon it under Section 310(b) of the Trust Indenture Act after
                  written request therefor by the Company or by any Holder of a
                  Security 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 607 and
                  shall fail to resign after written request therefor by the
                  Company or by any such Holder of a Security, or

                                       52
<PAGE>
         (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, (a) the Company, by or pursuant to Board Resolution, may
remove the Trustee with respect to all Securities, or (b) subject to Section
315(c) of the Trust Indenture Act any Holder of a Security who has been a bona
fide Holder of a Security of any series 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 of
such series 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 or pursuant to
Board Resolutions, 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 shall comply with
the applicable requirements of Section 609. If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
609, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the Company. If
no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders of Securities and accepted
appointment in the manner required by Section 609, any Holder of a Security 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 the
Holders of Registered Securities, if any, of such series as their names and
addresses appear in the Security Register and, if Securities of such series are
issued as Bearer Securities, by publishing notice of such event once in an
Authorized Newspaper in each Place of Payment located outside the United States.
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 609. 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

                                       53
<PAGE>
the Company and 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 and/or the successor
Trustee, such retiring Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor Trustee all the rights,
powers and trusts of the retiring Trustee and shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder, subject nevertheless to its claim, if any, provided for in
Section 606.

         (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, that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee and that no Trustee shall be responsible for any notice
given to, or received by, or any act or failure to act on the part of any other
Trustee hereunder, and upon the execution and delivery of such supplemental
indenture the resignation or removal of the retiring Trustee shall become
effective to the extent provided therein, such retiring Trustee shall with
respect to the Securities of that or those series to which the appointment of
such successor Trustee relates have no further responsibility for the exercise
of rights and powers or for the performance of the duties and obligations vested
in the Trustee under this Indenture other than as hereinafter expressly set
forth, and each such successor Trustee without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor Trustee relates; but, on request of
the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee, to the extent contemplated by
such supplemental indenture, the property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates.

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

                                       54
<PAGE>
         (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 610. 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 of 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. 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 611. APPOINTMENT OF AUTHENTICATING AGENT.

         The Trustee may appoint an Authenticating Agent or Authenticating
Agents, which may be an Affiliate of the Company, with respect to one or more
series of Securities which shall be authorized to act on behalf of the Trustee
to authenticate Securities of that or those series issued upon original issue or
exchange, registration of transfer or partial redemption thereof 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,
except as specified as contemplated by Section 301, shall at all times be a
corporation that would be permitted by Section 310(a) (1) and (5) of the Trust
Indenture Act to be able to act as a trustee under an indenture qualified under
the Trust Indenture Act, is authorized under applicable law and by its charter
to act as such and that has a combined capital and surplus (computed in
accordance with Section 310(a) (2) of the Trust Indenture Act) of not less that
$50,000,000. If at any time an Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section, such Authenticating Agent
shall resign immediately in the manner and with the effect specified in this
Section. If the Authenticating Agent has or shall acquire any conflicting
interest, as defined in Section 310(b) of the Trust Indenture Act, with respect
to the Securities of any series, the Authenticating Agent shall take action as
is required pursuant to said Section 310 (b)

         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

                                       55
<PAGE>
Section, 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 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 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, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall (i) mail written notice
of such appointment by first-class mail, postage prepaid, to all Holders of
Registered Securities, if any, of the series with respect to which such
Authenticating Agent will serve, as their names and addresses appear in the
Security Register, and (ii) if Securities of the series are issued as Bearer
Securities, publish notice of such appointment at least once in an Authorized
Newspaper in the place where such successor Authenticating Agent has its
principal office if such office is located outside the United States. 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.

         The Company agrees to pay each Authenticating Agent from time to time
reasonable compensation for its services under this Section.

         The provisions of Sections 308, 603 and 604 shall be applicable to each
Authenticating Agent.

         If an appointment with respect to one or more series is made pursuant
to this Section, the Securities of such series may have endorsed thereon, in
addition to or in lieu of 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 herein referred
to in the within-mentioned Indenture.

Dated:                                      THE BANK OF NEW YORK,
                                                 As Trustee

                                            By:____________________________
                                                  As Authenticating Agent

                                            By:____________________________
                                                   Authorized Signatory

         If all of the Securities of any series may not be originally issued at
one time, and if the Trustee does not have an office capable of authenticating
Securities upon original issuance located in a Place of Payment where the
Company wishes to have Securities of such series authenticated upon original
issuance, the Trustee, if so requested in writing (which writing need not comply
with Section 102) by the Company, shall appoint in accordance with this Section
an

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<PAGE>
Authenticating Agent having an office in a Place of Payment designated by the
Company with respect to such series of Securities.

         The Trustee is hereby appointed as an Authenticating Agent.

                                 ARTICLE SEVEN

                HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

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

         In accordance with Section 312(a) of the Trust Indenture Act, the
Company will furnish or cause to be furnished to the Trustee

         (1)      semi-annually, not later than 15 days after the Regular Record
                  Date for interest for each series of Securities, a list, in
                  such form as the Trustee may reasonably require, of the names
                  and addresses of the Holders of Registered Securities of such
                  series as of such Regular Record Date, or if there is no
                  Regular Record Date for interest for such series of
                  Securities, semi-annually, upon such dates as are set forth in
                  the Board Resolution or indenture supplemental hereto
                  authorizing such series, and

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

provided, however, that so long as the Trustee is the Security Registrar no such
list shall be required to be furnished.

         SECTION 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.

         (a) The Trustee shall comply with the obligations imposed upon it
pursuant to Section 312 of the Trust Indenture Act.

         (b) Every Holder of Securities or Coupons, by receiving and holding the
same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any Paying Agent nor any Security Registrar shall be held
accountable by reason of the disclosure of any such information as to the names
and addresses of the Holders of Securities in accordance with Section 312 of the
Trust Indenture Act, regardless of the source from which such information was
derived, and that the Trustee shall not be held accountable by reason of mailing
any material pursuant to a request made under Section 312(b) of the Trust
Indenture Act.

         SECTION 703. REPORTS BY TRUSTEE.

         (a) Within 60 days after May 15 of each year commencing with the year
following the first issuance of Securities pursuant to Section 301, if required
by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit
pursuant to Section 313(c) of the Trust Indenture Act a brief report dated as of
such May 15 with respect to any of the events specified in said Section

                                       57
<PAGE>
313(a) which may have occurred since the later of the immediately preceding May
15 and the date of this Indenture.

         (b) The Trustee shall transmit the reports required by Section 313(a)
of the Trust Indenture Act at the times specified therein.

         (c) Reports pursuant to this Section shall be transmitted in the manner
and to the Persons required by Sections 313(c) and (d) of the Trust Indenture
Act.

         SECTION 704. REPORTS BY COMPANY.

         The Company, pursuant to Section 314(a) of the Trust Indenture Act,
shall:

         (1)      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; or, if the Company is not
                  required to file information, documents or reports pursuant to
                  either of said Sections, then it shall file with the Trustee
                  and the Commission, in accordance with rules and regulations
                  prescribed from time to time by the Commission, such of the
                  supplementary and periodic information, documents and reports
                  which may be required pursuant to Section 13 of the Securities
                  Exchange Act of 1934 in respect of a Security listed and
                  registered on a national Securities exchange as may be
                  prescribed from time to time in such rules and regulations;

         (2)      file with the Trustee and the Commission, in accordance with
                  rules and regulations prescribed from time to time by the
                  Commission, such additional information, documents and reports
                  with respect to compliance by the Company with respect to
                  compliance by such obligor with the conditions and covenants
                  of this Indenture as may be required from time to time by such
                  rules and regulations; and

         (3)      transmit within 30 days after the filing thereof with the
                  Trustee, in the manner and to the extent provided in Section
                  313(c) of the Trust Indenture Act, such summaries of any
                  information, documents and reports required to be filed by the
                  Company pursuant to paragraphs (1) and (2) of this Section as
                  may be required by rules and regulations prescribed from time
                  to time by the Commission; and

         (4)      transmit within 30 days of December 31 of each year to the
                  Trustee, a brief certificate from the principal executive
                  officer, principal financial officer or principal accounting
                  officer of the Company as to his or her knowledge of such
                  obligor's compliance with all conditions and covenants under
                  the Indenture as determined without regard to any period of
                  grace or requirement of notice provided under the Indenture.

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<PAGE>
      Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee's receipt of such shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company's
compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers' Certificates).

                                  ARTICLE EIGHT

                         CONSOLIDATION, MERGER AND SALES

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

      Nothing contained in this Indenture or in any of the Securities shall
prevent any consolidation or merger of the Company with or into any other Person
or Persons (whether or not affiliated with the Company), or successive
consolidations or mergers in which the Company or its successor or successors
shall be a party or parties, or shall prevent any conveyance, transfer or lease
of the property of the Company as an entirety or substantially as an entirety,
to any other Person (whether or not affiliated with the Company); PROVIDED,
however, that:

      (1)   in case the Company shall consolidate with or merge into another
            Person or convey, transfer or lease its properties and assets
            substantially as an entirety to any Person, the entity formed by
            such consolidation or into which the Company is merged or the Person
            which acquires by conveyance or transfer, or which leases, the
            properties and assets of the Company substantially as an entirety
            shall be a corporation organized and existing under the laws of the
            United States of America, any State thereof or the District of
            Columbia and shall expressly assume, by an indenture (or indentures,
            if at such time there is more than one Trustee) supplemental hereto,
            executed and delivered by the successor Person to the Trustee, in
            form satisfactory to the Trustee, the due and punctual payment of
            the principal of (and premium, if any) and interest on or any
            Additional Amounts in respect of all the Securities and the
            performance of every other covenant of this Indenture on the part of
            the Company to be performed or observed;

      (2)   immediately after giving effect to such transaction and treating any
            indebtedness which becomes an obligation of the Company or a
            Subsidiary as a result of such transaction as having been incurred
            by the Company or such Subsidiary at the time of such transaction,
            no Event of Default, and no event (including, without limitation,
            default under Section 1006) which, after notice or lapse of time or
            both, would become an Event of Default, shall have happened and be
            continuing; and

      (3)   each of the Company and the successor Person has delivered to the
            Trustee an Officers' Certificate and an Opinion of Counsel, each
            stating that such consolidation, merger, conveyance, transfer or
            lease and such supplemental indenture comply with this Article and
            that all conditions precedent herein provided for relating to such
            transaction have been complied with.

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<PAGE>
      SECTION 802.      SUCCESSOR CORPORATION SUBSTITUTED FOR COMPANY.

      Upon any consolidation or merger or any conveyance, transfer or lease of
the properties and assets of the Company substantially as an entirety to any
Person in accordance with Section 801, the successor Person formed by such
consolidation or into which the Company is merged or to which such conveyance,
transfer or lease is made shall succeed to, and be substituted for, 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,
and thereafter, except in the case of a lease to another Person, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture
and the Securities and the Coupons.

                                  ARTICLE NINE

                             SUPPLEMENTAL INDENTURES

      SECTION 901.      SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

      Without the consent of any Holders of Securities or Coupons, the Company,
when authorized by Board Resolutions, and the Trustee, at any time and from time
to time, may enter into one or more indentures supplemental hereto, in form
satisfactory to the Trustee, for any of the following purposes:

      (1)   to evidence the succession of another Person to the Company, and the
            assumption by any such successor of the covenants of the Company
            herein and in the Securities; or

      (2)   to add to the covenants of the Company for the benefit of the
            Holders of all or any series of Securities (and if such covenants
            are to be for the benefit of less than all series of Securities,
            stating that such covenants are expressly being included solely for
            the benefit of such series) or to surrender any right or power
            herein conferred upon the Company; or

      (3)   to add to or change any of the provisions of this Indenture to
            provide that Bearer Securities may be registrable as to principal,
            to change or eliminate any restrictions on the payment of principal
            (or premium, if any) on Registered Securities or of principal (or
            premium, if any) or any interest on Bearer Securities, to permit
            Registered Securities to be exchanged for Bearer Securities or to
            permit or facilitate the issuance of Securities in uncertified form,
            PROVIDED any such action shall not adversely affect the interests of
            the Holders of Securities of any series or any Coupons appertaining
            thereto in any material respect; or

      (4)   to establish the form or terms of Securities of any series and any
            Coupons appertaining thereto as permitted by Sections 201 and 301;
            or

      (5)   to evidence and provide for the acceptance of appointment hereunder
            by a successor Trustee with respect to the Securities of one or more
            series and to add to or change any of the provisions of this
            Indenture as shall be necessary to

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<PAGE>
            provide for or facilitate the administration of the trusts hereunder
            by more than one Trustee, pursuant to the requirements of Section
            609 (b); or

      (6)   to cure any ambiguity, to correct or supplement any provision herein
            which may be defective or inconsistent with any other provision
            herein, or to make any other provisions with respect to matters or
            questions arising under this Indenture which shall not be
            inconsistent with the provisions of this Indenture and which shall
            not adversely affect the interest of the Holders of Securities of
            any series or any related coupons in any material respect; or

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

      (8)   to add any additional Events of Default;

      (9)   to modify, eliminate or add to the provisions of this Indenture to
            such extent as shall be necessary to conform the obligations of the
            Company and the Trustee under this Indenture to the obligations
            imposed on such Persons hereunder pursuant to the Trust Indenture
            Act or under any similar federal statute hereafter enacted and rules
            or regulations of the Commission thereunder;

      (10)  to make provisions with respect to the conversion rights of Holders
            of Convertible Securities pursuant to the requirements of Section
            1506; or

      (11)  to modify, delete or add to any of the provisions of this Indenture
            other than as contemplated by clauses (1) through (9) of this
            Section; provided that any such modification, deletion or addition
            shall become effective only with respect to series of Securities
            established pursuant to Section 301 after the effective date of such
            modification, deletion or addition.

      SECTION 902.      SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.

      With the consent of the Holders of not less than a majority in principal
amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the
Trustee, the Company, when authorized by Board Resolutions, and the Trustee may
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; PROVIDED, HOWEVER,
that no such supplemental Indenture shall, without the consent of the Holder of
each Outstanding Security affected thereby, shall

      (1)   change the Stated Maturity of the principal of, or any installment
            of interest on, any Security, or reduce the principal amount thereof
            or the rate of interest thereon or any Additional Amounts payable in
            respect thereof, or any premium payable upon the redemption thereof,
            or change the obligation of the Company to pay Additional Amounts
            pursuant to Section 1004 (except as contemplated by Section

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<PAGE>
            801(1) and permitted by Section 901(1)), or reduce the amount of the
            principal of an Original Issue Discount Security that would be due
            and payable upon a declaration of acceleration of the Maturity
            thereof pursuant to Section 502, or change the Place of Payment,
            coin or currency in which any Security or any premium or the
            interest thereon is payable, or impair the right to institute suit
            for the enforcement of any such payment on or after the Stated
            Maturity thereof (or, in the case of redemption, on or after the
            Redemption Date), or

      (2)   reduce the percentage in principal amount of the Outstanding
            Securities of any series, the consent of whose Holders is required
            for any such supplemental indenture, or the consent of whose Holders
            is required for any waiver (of compliance with certain provisions of
            this Indenture or certain defaults hereunder and their consequences)
            provided for in this Indenture, or reduce the requirements of
            Section 1404 for quorum or voting, or

      (3)   modify any of the provisions of this section, or Sections 512, 513
            or Section 1011, except to increase any such percentage or to
            provide that certain other provisions of this Indenture cannot be
            modified or waived without the consent of the Holder of each
            Outstanding Security affected thereby.

      The Company may, but shall not be obligated to, fix a record date for the
purposes of determining the Persons entitled to consent to any indenture
supplemental hereto. If a record date is fixed, the Holders on such record date,
or their duly designated proxies, and only such Persons, shall be entitled to
consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; PROVIDED, that unless such consent shall have
become effective by virtue of the requisite percentage having been obtained
prior to the date which is 90 days after such record date, any such consent
previously given shall automatically and without further action by any Holder be
cancelled and of no further effect.

      A supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the
rights of the Holders of Securities of such series with respect to such covenant
or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

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

      SECTION 903.      EXECUTION OF SUPPLEMENTAL INDENTURES.

      As a condition to executing, or accepting the additional trusts created
by, any supplemental indenture permitted by this Article or the modifications
thereby of the trust created by this Indenture, the Trustee shall be provided
with, and (subject to Section 315 of the Trust Indenture Act) shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture and
that it complies with the terms of this Indenture. The Trustee may, but shall
not be obligated to, enter

                                       62
<PAGE>
into any such supplemental indenture which affects the Trustee's own rights,
duties or immunities under this Indenture or otherwise.

      SECTION 904.      EFFECT OF SUPPLEMENTAL INDENTURES.

      Upon the execution of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture for all purposes; and every Holder
of a Security theretofore or thereafter authenticated and delivered hereunder
and of any Coupons appertaining thereto shall be bound thereby.

      SECTION 905.      CONFORMITY WITH TRUST INDENTURE ACT.

      Every supplemental indenture executed pursuant to this Article shall
conform to the requirements of the Trust Indenture Act as then in effect.

      SECTION 906.      REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.

      Securities of any series authenticated and delivered after the execution
of any supplemental indenture pursuant to this Article may, and shall if
required by the Trustee, bear a notation in form approved by the Trustee as to
any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the
Trustee in exchange for Outstanding Securities of such series.

                                   ARTICLE TEN

                                    COVENANTS

      SECTION 1001.     PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST.

      The Company covenants and agrees for the benefit of the Holders of each
series of Securities that it will duly and punctually pay the principal of (and
premium, if any), interest on or any Additional Amounts payable in respect of
the Securities of that series in accordance with the terms of such series of
Securities, any Coupons appertaining thereto and this Indenture. Any interest
due on and any Additional Amounts payable in respect of Bearer Securities on or
before Maturity, other than Additional Amounts, if any, payable as provided in
Section 1004 in respect of principal of (or premium, if any, on) such a
Security, shall be payable only upon presentation and surrender of the several
coupons for such interest installments as are evidenced thereby as they
severally mature.

      SECTION 1002.     MAINTENANCE OF OFFICE OR AGENCY.

      The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of such series (but not Bearer
Securities, except as otherwise provided below, unless such Place of Payment is
located outside the United States) 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

                                       63
<PAGE>
respect of the Securities of that series and this Indenture may be served. If
Securities of a series are issuable as Bearer Securities, the Company shall
maintain, subject to any laws or regulations applicable thereto, an office or
agency in a Place of Payment for such series which is located outside the United
States where Securities of such series and the related Coupons may be presented
and surrendered for payment (including payment of any Additional Amounts payable
on Securities of such series pursuant to Section 1004); PROVIDED, HOWEVER, that
if the Securities of such series are listed on The Stock Exchange of the United
Kingdom and the Republic of Ireland or the Luxembourg Stock Exchange or any
other stock exchange located outside the United States and such stock exchange
shall so require, the Company will maintain a Paying Agent in London, Luxembourg
or any other required city located outside the United States, as the case may
be, so long as the Securities of such series are listed on such exchange. 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, except that Bearer Securities of that series and the related Coupons
may be presented and surrendered for payment (including payment of any
Additional Amounts payable on Bearer Securities of that series pursuant to
Section 1004) at the place specified for the purpose pursuant to Section 301,
and the Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

      Except as otherwise specified as contemplated by Section 301, no payment
of principal, premium or interest on Bearer Securities shall be made at any
office or agency of the Company in the United States or by check mailed to any
address in the United States or by transfer to an account maintained with a bank
located in the United States; PROVIDED, HOWEVER, payment of principal of and any
premium and interest in U.S. dollars (including Additional Amounts payable in
respect thereof) on any Bearer Security may be made at the Corporate Trust
Office or any office or agency designated by the Company in the Borough of
Manhattan, The City of New York if (but only if) payment of the full amount of
such principal, premium, interest or Additional Amounts at all offices outside
the United States maintained for the purpose by the Company in accordance with
this Indenture is illegal or effectively precluded by exchange controls or other
similar restrictions.

      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 their 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. Unless otherwise specified as contemplated by Section 301, the
Company hereby designates as the Place of Payment for each series the Corporate
Trust Office of the Trustee. Pursuant to Section 301(9) of this Indenture, the
Company may subsequently appoint a place or places in the Borough of Manhattan,
The City of New York where such Securities may be payable.

                                       64
<PAGE>
      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, any of the Securities of
that series, segregate and hold in trust for the benefit of the Person 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, it will, on or prior to each due date of the principal of (and
premium, if any), or interest on, any Securities of that series, deposit with
any 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) or interest on 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) or interest on 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 terms as those upon which such 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.

      Except as otherwise provided hereby or pursuant hereto, 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 and
Additional Amounts on any Security of any series 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 Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security

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<PAGE>
or any Coupon appertaining thereto 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 each Place of Payment for such series or to be mailed to
Holders of Registered Securities for such series, or both, 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 publication or mailing nor shall
it be later than two years after such principal (and premium, if any) or
interest has become due and payable, any unclaimed balance of such money then
remaining will be repaid to the Company.

      SECTION 1004.     ADDITIONAL AMOUNTS.

      If any Securities of a series provide for the payment of Additional
Amounts, the Company agrees to pay to the Holder of any such Security of any
such series or any Coupon appertaining thereto Additional Amounts as provided
therein. Whenever in this Indenture there is mentioned, in any context, the
payment of the principal of (or premium, if any) or interest on, or in respect
of, any Security of any series or any related Coupon or the net proceeds
received on 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
by the terms of such series established hereby or pursuant hereto to the extent
that, in such context, Additional Amounts are, were or would be payable in
respect thereof pursuant to such terms 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.

      Except as otherwise provided herein or pursuant hereto, 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 such series of
Securities (or if the Securities of that series shall not bear interest prior to
Maturity, the first day on which a payment of principal (and premium, if any, is
made), and at least 10 days prior to each date of payment of principal (and
premium, if any) or interest if there has been any change with respect to the
matters set forth in the below-mentioned Officers' Certificate, the Company will
furnish the Trustee and the principal Paying Agent or Paying Agents, if other
than the Trustee, an Officers' Certificate instructing the Trustee and such
Paying Agent or Paying Agents whether such payment of principal (and premium, if
any) of or interest on the Securities of that series shall be made to Holders of
Securities of that series or the Coupons appertaining thereto 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 or Coupons and the Company agrees to pay to the
Trustee or 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.

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      SECTION 1005.     STATEMENT AS TO COMPLIANCE; NOTICE OF CERTAIN DEFAULTS.

      (a) The Company will, in addition to the reports required by Section
704(4), deliver to the Trustee, within 120 days after the end of each fiscal
year (which on the date hereof ends on December 31), commencing December 31,
2004, a written statement, which need not comply with Section 102, signed by the
Chairman of the Board, a Deputy Chairman, Vice Chairman, the President or a Vice
President and by the Treasurer or an Assistant Treasurer of the Company,
stating, as to each signer thereof, that

      (1)   a review of the activities of the Company during such year and of
            performance under this Indenture has been made under his
            supervision, and

      (2)   to the best of his knowledge, based on such review, (a) the Company
            has fulfilled all of its obligations under this Indenture throughout
            such year, or, if there has been a default in the fulfillment of any
            such obligation, specifying each such default known to him and the
            nature and status thereof, and (b) no event has occurred and is
            continuing which is, or after notice or lapse of time or both would
            become, an Event of Default, or, if such an event has occurred and
            is continuing, specifying each such event known to him and the
            nature and status thereof.

      (b) The Company will deliver to the Trustee as soon as possible, and in
any event, within five days after the occurrence thereof, written notice of any
event which after notice or lapse of time or both would become an Event of
Default.

      SECTION 1006.     LIMITATION UPON SALE OR ISSUANCE OF CAPITAL STOCK OF
CERTAIN SUBSIDIARIES.

      Except as set forth below, the Company will not sell, assign, pledge,
transfer or otherwise dispose of, or permit the issuance of, or permit a
Subsidiary to sell, assign, pledge, transfer or dispose of, any shares of
Capital Stock of any Subsidiary or any Securities convertible into Capital Stock
of any Subsidiary which is:

      (1)   a Principal Constituent Bank; or

      (2)   a Subsidiary which owns shares of Capital Stock or any Securities
            convertible into Capital Stock of a Principal Constituent Bank;

provided, however, nothing in this Section shall prohibit (i) any dispositions
made by the Company or any Subsidiary (A) acting in a fiduciary capacity for any
person other than the Company or any Subsidiary or (B) to the Company or any of
its wholly-owned Subsidiaries or (ii) the merger or consolidation of a Principal
Constituent Bank with and into a Constituent Bank or the merger or consolidation
of any Principal Constituent Bank with and into any other Principal Constituent
Bank.

      Notwithstanding the foregoing, sales, assignments, pledges, transfers,
issuances or other dispositions of shares of Capital Stock of a corporation
referred to in Clause (a) or (b) above may be made where:

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      (1)   the sales, assignments, pledges, transfers, issuances or other
            dispositions are made, in the minimum amount required by law, to any
            Person for the purpose of the qualification of such Person to serve
            as a director; or

      (2)   the sales, assignments, pledges, transfers, issuances or other
            dispositions are made in compliance with an order of a court or
            regulatory authority of competent jurisdiction or as a condition
            imposed by any such court or authority to the acquisition by the
            Company, directly or indirectly, of any other corporation or entity;
            or

      (3)   in the case of a disposition or issuance of shares of Capital Stock
            or any Securities convertible into Capital Stock of a Principal
            Constituent Bank, or sales of Capital Stock or any Securities
            convertible into Capital Stock of any Subsidiary included in Clause
            (b) above, the sales, assignments, pledges, transfers, issuances or
            other dispositions are for fair market value (as determined by the
            Board of Directors of the Company and the Subsidiary disposing of
            such shares or Securities, such determination being evidenced by a
            Board Resolution) and, after giving effect to such disposition and
            to any potential dilution (if the shares or Securities are
            convertible into Capital Stock), the Company and its wholly-owned
            (except for directors' qualifying shares) Subsidiaries, will own
            directly not less than 80% of the Voting Stock of such Principal
            Constituent Bank or Subsidiary; or

      (4)   a Principal Constituent Bank sells additional shares of Capital
            Stock to its stockholders at any price, so long as immediately after
            such sale the Company owns, directly or indirectly, at least as
            great a percentage of the Voting Stock of such Principal Constituent
            Bank as it owned prior to such sale of additional shares.

      SECTION 1007.     LIMITATION ON LIENS.

      The Company will not pledge, mortgage or hypothecate, or permit to exist
any pledge, mortgage or hypothecation or other lien upon, any shares of Capital
Stock of a Constituent Bank to secure any indebtedness for borrowed money
without making effective provisions whereby the Securities shall be equally and
ratably secured with any and all such indebtedness.

      In case the Company shall propose to pledge, mortgage, or hypothecate any
such shares of Capital Stock at any time owned by it to secure any indebtedness,
the Company will prior thereto give written notice thereof to the Trustee and
will prior to or simultaneously with such pledge, mortgage or hypothecation, by
supplemental indenture delivered to the Trustee, in form satisfactory to it,
effectively secure all the Securities equally and ratably with such
indebtedness, by pledge, mortgage or hypothecation of such shares of Capital
Stock. Such supplemental indenture shall contain the provisions concerning the
possession, control, release and substitution of mortgaged and pledged property
and Securities and other appropriate matters which are required or are permitted
by the Trust Indenture Act (as in effect at the date of execution of such
supplemental indenture) to be included in a secured indenture qualified under
said Trust Indenture Act, and may also contain such additional and amendatory
provisions permitted by

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said Trust Indenture Act as the Company and the Trustee shall deem advisable or
appropriate or as the Trustee shall deem necessary in connection with such
pledge, mortgage or hypothecation.

      SECTION 1008.     LIMITATION ON CERTAIN ACQUISITIONS.

      The Company will not (a) acquire Capital Stock of any corporation or (b)
acquire substantially all the assets and liabilities of any corporation, if,
immediately upon giving effect to such acquisition, the Company would not then
be in full compliance with all the terms, conditions and covenants contained in
this Indenture.

      SECTION 1009.     PAYMENT OF TAXES AND OTHER CLAIMS.

      The Company will pay or discharge or cause to be paid or discharged,
before the same shall become delinquent, (1) all taxes, assessments and
governmental charges levied or imposed upon the Company or any Subsidiary or
upon the income, profits or property of the Company or any Subsidiary, and (2)
all lawful claims for labor, materials and supplies which, if unpaid, might by
law become a lien upon the property of the Company or any subsidiary; PROVIDED,
HOWEVER, that the Company shall not be required to pay or discharge or cause to
be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings.

      SECTION 1010.     CORPORATE EXISTENCE.

      Subject to Article Eight, the Company will do or cause to be done all
things necessary to preserve and keep in full force and effect its corporate
existence, rights (charter and statutory) and franchises and the corporate
existence, rights (charter and statutory) and franchises of each Principal
Constituent Bank; PROVIDED, HOWEVER, that the Company shall not be required to
preserve any such corporate existence, right or franchise if the Company shall
determine that the preservation thereof is no longer desirable in the conduct of
the business of the Company and its Subsidiaries considered as a whole and that
the loss thereof is not disadvantageous in any material respect to the Holders.

      SECTION 1011.     WAIVER OF CERTAIN COVENANTS.

      The Company may omit in any particular instance to comply with any term,
provision or condition set forth in Section 1006, 1007, 1008 and 1009 with
respect to the Securities of any series if before the time for such compliance
the Holders of at least a majority in principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such term,
provision or condition, but no such waiver shall extend to or affect such term,
provision 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 term, provision or condition shall remain in
full force and effect.

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      SECTION 1012.     CALCULATION OF ORIGINAL ISSUE DISCOUNT.

      The Company shall file with the Trustee promptly at the end of each
calendar year (i) a written notice specifying the amount of original issue
discount (including daily rates and accrual periods) accrued on Outstanding
Securities as of the end of such year and (ii) such other specific information
relating to such original issue discount as may then be relevant under the
Internal Revenue Code of 1986, as amended from time to time.

                                 ARTICLE ELEVEN

                            REDEMPTION OF SECURITIES

      SECTION 1101.     APPLICABILITY OF ARTICLE.

      Redemption of Securities of any series at the option of the Company as
permitted or required by the terms of such Securities shall be made in
accordance with the terms of such Securities and (except as otherwise provided
herein or pursuant hereto) this Article.

      SECTION 1102.     ELECTION TO REDEEM; NOTICE TO TRUSTEE.

      The election of the Company to redeem any Securities shall be evidenced by
Board Resolution. In case of any redemption at the election of the Company of
the Securities of any series, with the same issue date, interest rate and Stated
Maturity, the Company shall, at least 60 days 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.

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

      If less than all the Securities of any series with the same issue date,
interest rate, Stated Maturity and other terms 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 which may provide for the selection for
redemption of portions of the principal amount of Registered Securities of such
series; PROVIDED, HOWEVER, that no such partial redemption shall reduce the
portion of the principal amount of a Registered Security of such series not
redeemed to less than the minimum denomination for a Security of such series
established herein pursuant hereto.

      If any Convertible Security selected for partial redemption is converted
in part before termination of the conversion right with respect to the portion
of the Security so selected, the converted portion of such Security shall be
deemed (so far as may be) to be the portion selected for redemption. Securities
which have been converted during a selection of Securities to be redeemed shall
be treated by the Trustee as Outstanding for the purpose of such selection.

      The Trustee shall promptly notify the Company and the Security Registrar
(if other than itself) 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.

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      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 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 106,
not less than 30 nor more than 60 days prior to the Redemption Date, unless a
shorter period is specified in the Securities to be redeemed, to the Holders of
Securities to be redeemed. Failure to give notice by mailing in the manner
herein provided to the Holder of any Registered Securities designated for
redemption as a whole or in part, or any defect in the notice to any such
Holder, shall not affect the validity of the proceedings for the redemption of
any other Securities or portion thereof.

      Any notice that is mailed to the Holder of any Registered Securities in
the manner herein provided shall be conclusively presumed to have been duly
given, whether or not such Holder receives the notice.

      All notices of redemption shall state:

      (1)   the Redemption Date,

      (2)   the Redemption Price,

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

      (4)   in case any Registered Security is to be redeemed in part only, the
            notice which relates to such Security shall state that on and after
            the Redemption Date, upon surrender of such Security, the Holder of
            such Security will receive, without charge, a new Registered
            Security or Registered Securities of authorized denominations for
            the principal amount thereof remaining unredeemed,

      (5)   in the case of Convertible Securities, the Conversion Price then in
            effect, the date on which the right to convert the principal amount
            of the Securities or the portions thereof to be redeemed will
            terminate and the place or places where such Securities may be
            surrendered for conversion,

      (6)   that on the Redemption Date the Redemption Price will become due and
            payable upon each such Security to be redeemed only, as to Bearer
            Securities, against tender of such Security and any Coupons
            appertaining thereto, and, if applicable, that interest thereon and
            Additional Amounts, if any, shall cease to accrue on and after said
            date,

      (7)   the place or places where such Securities, together, in the case of
            Bearer Securities with all Coupons appertaining thereto, if any,
            maturing after the Redemption Date, are to be surrendered for
            payment of the Redemption Price,

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<PAGE>
      (8)   that the redemption is for a sinking fund, if such is the case, and

      (9)   the CUSIP number, if any.

      A notice of redemption published as contemplated by Section 106 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 prior to 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 thereto, all the Securities or portions thereof which are
to be redeemed on that date.

      If any Convertible Security or portion thereof called for redemption is
converted pursuant to Article Fifteen, any money deposited with the Trustee or
so segregated and held in trust for the redemption of such Security or portion
thereof shall (subject to any right of the Holder of the Security on a Regular
Record Date preceding such conversion to receive interest) be paid to the
Company upon Company Request or, if then held by the Company, shall be
discharged from such trust.

      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 and the Coupons for such
interest appertaining to any Bearer Securities so to be redeemed, except to the
extent provided below, shall be void. Upon surrender of any such Security for
redemption in accordance with said notice, together with all Coupons, if any,
appertaining thereto maturing after the Redemption Date, such Security shall be
paid by the Company at the Redemption Price, together with accrued interest (or
any Additional Amounts) to the Redemption Date; PROVIDED, HOWEVER, that
installments of interest on Bearer Securities whose Stated Maturity is on or
prior to the Redemption Date shall be payable only upon presentation and
surrender of coupons for such interest (at an office or agency located outside
the United States except as otherwise provided in Section 1002), and PROVIDED,
FURTHER, that installments of interest on Registered Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders
of such Securities, or one or more Predecessor Securities, registered as such at
the close of business on the Regular Record Dates according to their terms and
the provisions of Section 307.

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      If any Bearer Security surrendered for redemption shall not be accompanied
by all appurtenant Coupons maturing after the Redemption Date, such Security may
be paid after deducting from the Redemption Price an amount equal to the face
amount of all such missing Coupons, or the surrender of such missing Coupon or
Coupons may be waived by the Company and the Trustee if there be furnished to
them such Security or indemnity as they may require to save each of them and any
Paying Agent harmless. If thereafter the Holder of such Security shall surrender
to the Trustee or any Paying Agent any such missing coupon in respect of which a
deduction shall have been made from the Redemption Price, such Holder shall be
entitled to receive the amount so deducted; PROVIDED, HOWEVER, that interest (or
any Additional Amounts) represented by Coupons shall be payable only upon
presentation and surrender of those Coupons at an office or agency located
outside of the United States except as otherwise provided in Section 1002.

      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.

      SECTION 1107.     SECURITIES REDEEMED IN PART.

      Any Registered Security which is to be redeemed only in part shall be
surrendered at any office or agency of the Company maintained for that purpose
pursuant to Section 1002 (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, containing identical
terms and provisions, 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. If a Security in global
form is so surrendered, the Company shall execute, and the Trustee shall
authenticate and deliver to the U.S. Depository or other depository for such
Security in global form as shall be specified in the Company Order with respect
thereto to the Trustee, without service charge, a new Security in global form in
a denomination equal to and in exchange for the unredeemed portion of the
principal of the Security in global form so surrendered.

      SECTION 1108.     CONVERSION ARRANGEMENTS ON CALL FOR REDEMPTION.

      Notwithstanding anything to the contrary contained in this Indenture, in
connection with any redemption of Convertible Securities of any series, the
Company, by an agreement with one or more investment bankers or other
purchasers, may arrange for such purchasers to purchase all such Convertible
Securities called for redemption (the "Called Securities") which are either (i)
surrendered for redemption or (ii) not duly surrendered for redemption or
conversion prior to the close of business on the Redemption Date, and to convert
the same into shares of Common Stock, by the purchasers' depositing with the
Trustee (acting as Paying Agent with respect to the deposit of such amount and
as conversion agent with respect to the conversion of such Called Securities),
in trust for the Holders of the Called Securities, on or prior to the Redemption
Date in the manner agreed to by the Company and such purchasers, an amount
sufficient to pay the Redemption Price, payable by the Company on redemption of
such Called Securities. In

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connection with any such arrangement for purchase and conversion, the Trustee as
Paying Agent shall pay on or after the Redemption Date such amounts so deposited
by the purchasers in exchange for Called Securities surrendered for redemption
prior to the close of business on the Redemption Date and for all Called
Securities surrendered after such Redemption Date. Notwithstanding anything to
the contrary contained in this Article Eleven, the obligation of the Company to
pay the Redemption Price of such Called Securities shall be satisfied and
discharged to the extent such amount is so paid by such purchasers. However,
nothing in this Section 1108 shall in any way relieve the Company of the
obligation to pay such Redemption Price on all Called Securities to the extent
such amount is not so paid by said purchasers. For all purposes of this
Indenture, any Called Securities surrendered by the Holders for redemption, and
any Called Securities not duly surrendered for redemption or conversion prior to
the close of business on the Redemption Date, shall be deemed acquired by such
purchasers from such Holders and surrendered by such purchasers for conversion
and shall in all respects be deemed to have been converted, all as of
immediately prior to the close of business on the Redemption Date, subject to
the deposit by the Purchasers of the above amount as aforesaid. Nothing in this
Section 1108 shall in any way limit the right of any Holder of a Security to
convert his Security pursuant to the terms of this Indenture and of such
Security at any time prior to the close of business on the Redemption Date
applicable thereto.

                                 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 permitted or
required by any form of Security of such series issued pursuant to this
Indenture.

      The minimum amount of any sinking fund payment provided for by the terms
of 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 such series is herein referred to as an "optional sinking
fund payment". If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided
in Section 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 may, in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series to be made pursuant to the
terms of such Securities as provided for by the terms of such series (1) deliver
Outstanding Securities of such series (other than any of such Securities
previously called for redemption or any of such Securities in respect of which
cash shall have been released to the Company), together in the case of any
Bearer Securities of such series with all unmatured Coupons appertaining
thereto, and (2) apply as a credit Securities of such series which have been
redeemed either at the election of the Company pursuant to the terms of such
series of Securities or through the application of permitted optional

                                       74
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sinking fund payments pursuant to the terms of such Securities, PROVIDED that
such series of Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the Redemption
Price specified in such Securities for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced
accordingly. If as a result of the delivery or credit of Securities of any
series in lieu of cash payments pursuant to this Section 1202, the principal
amount of Securities of such series to be redeemed in order to exhaust the
aforesaid cash payment shall be less than $100,000, the Trustee need not call
Securities of such series for redemption, except upon Company Request, and such
cash payment shall be held by the Trustee or a Paying Agent and applied to the
next succeeding sinking fund payment, PROVIDED, HOWEVER, that the Trustee or
such Paying Agent shall at the request of the Company from time to time pay over
and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Securities of that
series purchased by the Company having an unpaid principal amount equal to the
cash payment requested to be released to the Company.

      SECTION 1203.     REDEMPTION OF SECURITIES FOR SINKING FUND.

      Not less than 75 days prior to each sinking fund payment date for any
series of Securities, the Company will deliver to the Trustee an Officers'
Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion
thereof, if any, which is to be satisfied by delivering and crediting of
Securities of that series pursuant to Section 1202, and the optional amount, if
any, to be added in cash to the next ensuing mandatory sinking fund payment, and
will also deliver to the Trustee any Securities to be so credited and not
theretofore delivered. If such Officers' Certificate shall specify an optional
amount to be added in cash to the next ensuing mandatory sinking fund payment,
the Company shall thereupon be obligated to pay the amount therein specified.
Not less than 60 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

                       REPAYMENT AT THE OPTION OF HOLDERS

      SECTION 1301.     APPLICABILITY OF ARTICLE.

      Securities of any series which are repayable at the option of the Holders
thereof before their Stated Maturity shall be repaid in accordance with the
terms of the Securities of such series. The repayment of any principal amount of
Securities pursuant to such option of the Holder to require repayment of
Securities before their Stated Maturity, for purposes of Section 309, shall not
operate as a payment, redemption or satisfaction of the indebtedness represented
by such Securities unless and until the Company, at its option, shall deliver or
surrender the same to the Trustee with a directive that such Securities be
cancelled. Notwithstanding anything to the contrary contained in this Article
Thirteen, in connection with any repayment of Securities, the

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Company may arrange for the purchase of any Securities by an agreement with one
or more investment bankers or other purchasers to purchase such Securities by
paying to the Holders of such Securities on or before the close of business on
the repayment date an amount not less than the repayment price payable by the
Company on repayment of such Securities, and the obligation of the Company to
pay the repayment price of such Securities shall be satisfied and discharged to
the extent such payment is so paid by such purchasers.

                                ARTICLE FOURTEEN

                               MEETINGS OF HOLDERS

      SECTION 1401.     PURPOSES FOR WHICH MEETINGS MAY BE CALLED.

      A meeting of Holders of Securities of such 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 1402.     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 1401, to be held at such time
and at such place in the Borough of Manhattan, The City of New York, or, if
Securities of such series are to be issued as Bearer Securities, in London, 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 106, not less than 21 nor more than 180 days prior to
the date fixed for the meeting.

      (b) In case at any time the Company, pursuant to Board Resolution, or the
Holders of at least 10% in principal amount of the Outstanding Securities of any
series shall have requested the Trustee to call a meeting of the Holders of
Securities of such series for any purpose specified in Section 1401, 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 21 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, or, if Securities of such series are
to be issued as Bearer Securities, in London for such meeting and may call such
meeting for such purposes by giving notice thereof as provided in subsection (a)
of this Section.

      SECTION 1403.     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

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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 1404.     QUORUM; ACTION.

      The Persons entitled to vote a majority in 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 within 30
minutes after 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. Notice of the reconvening of any adjourned meeting shall be
given as provided in section 1402 (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 the percentage, as provided above, of the principal amount
of the Outstanding Securities of such series which 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 only by the affirmative vote of the Holders of a
majority in 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, waiver or other action which this Indenture expressly provides
may be made, given or taken by the Holders of a specified percentage, which is
less than a majority, in 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 principal amount of the Outstanding Securities
of that series.

      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 and the Coupons
appertaining thereto, whether or not present or represented at the meeting.

      SECTION 1405.     DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT
OF MEETINGS.

      (a) Notwithstanding any other provisions of this Indenture, the Trustee
may make such reasonable regulations as it may deem advisable for any meeting of
Holders of Securities of such series in regard to proof of the holding of
Securities of such series and of the appointment of proxies and in regard to the
appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding
of Securities shall be proved in the

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<PAGE>
manner specified in Section 104 and the appointment of any proxy shall be proved
in the manner specified in Section 104 or by having the signature of the person
executing the proxy witnessed or guaranteed by any trust company, bank or banker
authorized by Section 104 to certify to the holding of Bearer Securities. 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 104 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 1402(b), in which
case the Company or the Holders of Securities of the series calling the meeting,
as the case may be, shall in like manner 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 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 or proxy shall
be entitled to one vote for each $1,000 principal amount of 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 proxy.

      (d) Any meeting of Holders of Securities of any series duly called
pursuant to Section 1402 at which a quorum is present may be adjourned from time
to time by Persons entitled to vote a majority in 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 1406.     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 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 triplicate of all votes cast at the meeting.

      A record, at least in triplicate, 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 said 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 said notice was given as provided in Section 1402
and, if applicable, Section 1404. 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

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<PAGE>
                                 ARTICLE FIFTEEN

                                   CONVERSION

      SECTION 1501.     CONVERSION PRIVILEGE.

      Subject to and upon compliance with the provisions of this Article Fifteen
and the terms of the Convertible Securities of the series proposed to be
converted, at the option of the Holder, any Convertible Security or any portion
of the principal amount thereof which is $1,000 or an integral multiple thereof,
may be converted into shares of Common Stock, as said shares shall be
constituted at the Date of Conversion, at the Conversion Price for such
Convertible Securities of such series in effect at the Date of Conversion.

      SECTION 1502.     MANNER OF EXERCISE OF CONVERTIBLE PRIVILEGE.

      In order to exercise the conversion privilege, the Holder of any
Convertible Security to be converted shall surrender such Convertible Security
to the Company at its office or agency in the Borough of Manhattan, The City of
New York, together with the conversion notice in the form provided on the
Securities (or separate written notice) duly executed, and, if so required by
the Company, accompanied by instruments of transfer, in form satisfactory to the
Company and to the Trustee, duly executed by the Holder or by his duly
authorized attorney in writing. Any Registered Convertible Security so
surrendered during the period from the close of business on the Regular Record
Date preceding an Interest Payment Date for such Registered Convertible Security
to the opening of business on such Interest Payment Date shall (unless any such
Registered Convertible Security or the portion thereof being converted shall
have been called for redemption on a Redemption Date during such period, in
which event no interest shall be payable with respect to such Registered
Convertible Security or portion thereof, as the case may be, following such
Redemption Date) also be accompanied by payment in New York Clearing House funds
or other funds acceptable to the Company of an amount equal to the interest
payable on such Interest Payment Date on the principal amount of such Registered
Convertible Security then being converted; provided, however, that no such
payment need be made if there shall exist, at the time of conversion, a default
in the payment of interest on the Convertible Securities of such series. Except
as provided in the immediately preceding sentence, no adjustment shall be made
for interest accrued on any Convertible Security that shall be converted or for
dividends on any shares of Common Stock that shall be delivered upon the
conversion of such Convertible Securities. The funds so delivered to such office
or agency shall be paid to the Company on or after such Interest Payment Date,
unless the Company shall default in the payment of the interest due on such
Interest Payment Date, in which event such funds shall be repaid to the Person
who delivered the same. As promptly as practicable after the surrender of any
Convertible Security for conversion as aforesaid, the Company shall deliver at
said office or agency to such Holder, or on his written order, a certificate or
certificates for the number of full shares deliverable upon the conversion of
such Convertible Security or portion thereof and a check or cash in respect of
any fraction of a share of Common Stock otherwise deliverable upon such
conversion, all as provided in this Article Fifteen, together with a Convertible
Security or Convertible Securities of the same series in principal amount equal
to the unconverted and unredeemed portion, if any, of the Convertible Security
so converted in accordance with Section 305 hereof. Such conversion shall be
deemed to have been effected on the date on which such notice shall have been
received

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<PAGE>
at said office or agency and such Convertible Security shall have been
surrendered as aforesaid, and the Person or Persons in whose name or names any
certificate or certificates for shares of Common Stock shall be deliverable upon
such conversion shall be deemed to have become on said date the Holder or
Holders of record of the shares represented thereby, provided, however, that any
such surrender on any date when the stock transfer books of the Company shall be
closed shall constitute the Person or Persons in whose name or names the
certificates are to be delivered as the record Holder or Holders thereof for all
purposes on the next succeeding day on which such stock transfer books are open,
but such conversion shall be at the Conversion Price in effect on the date of
such surrender.

      SECTION 1503.     CASH ADJUSTMENT UPON CONVERSION.

      The Company shall not be required to deliver fractions of shares of Common
Stock upon conversions of Convertible Securities. If more than one Convertible
Security shall be surrendered for conversion at one time by the same Holder, the
number of full shares which shall be deliverable upon conversion thereof shall
be computed on the basis of the aggregate principal amount of the Securities so
surrendered. If any fractional interest in a share of Common Stock would be
deliverable upon the conversion of any Convertible Security or Securities, the
Company shall make an adjustment therefor in cash equal to the current market
value of such fractional interest computed to the nearest cent either on the
basis of the last reported sale price regular way of the Common Stock on the New
York Stock Exchange (or, if not listed on the New York Stock Exchange, then on
such other exchange on which the shares of Common Stock are listed as the
Company may designate) on the last Business Day prior to the Date of Conversion
or, if there shall not have been a sale on such last Business Day, on the basis
of the average of the bid and asked quotations therefor on such exchange on such
last Business Day or, if the Common Stock shall not then be listed on any
exchange, at the highest bid quotation in the over-the- counter market on such
last Business Day as reported by the National Association of Securities Dealers
through NASDAQ, its automated system for reporting quotes, or its successor or
such other generally accepted source of publicly reported bid and asked
quotations as the Company may reasonably designate.

      SECTION 1504.     CONVERSION PRICE.

      The Conversion Price applicable to any series of Convertible Securities
shall be the initial Conversion Price set forth on the Officers' Certificate or
supplemental indenture establishing such series adjusted as provided in this
Article Fifteen.

      SECTION 1505.     ADJUSTMENT OF CONVERSION PRICE.

      The Conversion Price applicable to any series of Convertible Securities
shall be adjusted from time to time as follows:

      (a) In case the Company shall, at any time or from time to time while the
Securities of any series are outstanding, (i) pay a dividend on its Common Stock
in shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock
into a larger number of shares, or (iii) combine its outstanding Common Stock
into a smaller number of shares, the Conversion Price for such series in effect
immediately prior thereto shall be adjusted so that the Holder of any

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<PAGE>
Security of such series thereafter surrendered for conversion shall be entitled
to receive the number of shares of Common Stock or other securities of the
Company which he would have owned or have been entitled to receive after the
happening of any of the events described above, had such Convertible Security of
such series been converted immediately prior to the happening of such event. An
adjustment made pursuant to this subdivision (a) shall become effective, in the
case of a dividend, on the payment date retroactively to immediately after the
opening of business on the day following the record date for the determination
of shareholders entitled to receive such dividend, subject to the provisions of
paragraph (g) of this Section 1505, and shall become effective in the case of a
subdivision or combination immediately after the opening of business on the day
following the day when such subdivision or combination, as the case may be,
becomes effective.

      (b) In case the Company shall, at any time or from time to time while the
Convertible Securities of any series are outstanding, issue rights or warrants
to all holders of its shares of Common Stock entitling them (for a period
expiring within 45 days of the record date mentioned below) to subscribe for or
purchase shares of Common Stock at a price per share less than the current
market price per share of Common Stock (as defined in paragraph (d) below) at
such record date, the Conversion Price of any series of Convertible Securities
in effect immediately prior to the issuance of such rights or warrants shall be
adjusted as follows: the number of shares of Common Stock into which $1,000
principal amount of Convertible Securities of such series was theretofore
convertible shall be multiplied by a fraction, of which the numerator shall be
the number of shares of Common Stock outstanding immediately prior to such
record date plus the number of additional shares of Common Stock offered for
subscription or purchase, and of which the denominator shall be the number of
shares of Common Stock outstanding immediately prior to such record date plus
the number of shares which the aggregate offering price of the total number of
shares so offered would purchase at such current market price; and the
Conversion Price for such series of Convertible Securities shall be adjusted by
dividing $1,000 by the new number of shares into which $1,000 principal amount
of Securities of such series shall be convertible as aforesaid. Such adjustment
shall become effective on the date of such issuance retroactively to immediately
after the opening of business on the day following the record date for the
determination of shareholders entitled to receive such rights or warrants,
subject to the provisions of paragraph (g) of this Section 1505. In determining
whether any rights or warrants entitle the holders to subscribe for or purchase
shares of Common Stock at less than such current market price, and in
determining the aggregate offering price of such shares, there shall be taken
into account any consideration received by the Company for such rights or
warrants, the value of such consideration, if other than cash, to be determined
by the Board of Directors.

      (c) In case the Company shall, at any time from time to time while the
Convertible Securities of any series are outstanding, distribute to all holders
of shares of its Common Stock evidences of its indebtedness or securities or
assets (excluding cash dividends or cash distributions payable out of
consolidated net earnings or retained earnings) or rights or warrants to
subscribe for shares of Common Stock at a price per share less than the current
market price per share of Common Stock, determined in the manner set forth in
paragraph (d) below, but excluding rights or warrants referred to in paragraph
(b) above, the Conversion Price for such series of Convertible Securities in
effect immediately prior to such distribution shall be adjusted by multiplying
the number of shares of Common Stock into which $1,000 principal amount of

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<PAGE>
Convertible Securities of such series of Convertible Securities was theretofore
convertible by a fraction, of which the numerator shall be the current market
price per share of Common Stock (as defined in paragraph (d) below) on the
record date for such distribution, and of which the denominator shall be such
current market price per share of the Common Stock, less the then fair market
value (as determined by the Board of Directors of the Company, whose
determination shall be conclusive) of the portion of such evidences of
indebtedness, securities or assets or of such subscription rights or warrants so
distributed applicable to one share of Common Stock; and the Conversion Price
for such series of Convertible Securities shall be adjusted by dividing $1,000
by the new number of shares into which $1,000 principal amount of Convertible
Securities of such series shall be convertible as aforesaid. Such adjustment
shall become effective on the date of such distribution retroactively to
immediately after the opening of business on the day following the record date
for the determination of shareholders entitled to receive such distribution,
subject to the provisions of paragraph (g) of this Section 1505. For the
purposes of this paragraph (c) consolidated net earnings or retained earnings
shall be computed by adding thereto all charges against retained earnings on
account of dividends paid in shares of Common Stock in respect of which the
Conversion Price has been adjusted, all as determined by Independent Public
Accountants, whose determination shall be conclusive.

      (d) For the purpose of any computation under paragraphs (b) and (c) above,
the current market price per share of Common Stock at any date shall be deemed
to be the average of the market values of the shares of Common Stock for the ten
consecutive Business Days immediately preceding the day in question. The market
value of the Common Stock for each day shall be determined as provided in
Section 1503 hereof.

      (e) The Company may make such reductions in the Conversion Price for any
series of Convertible Securities, in addition to those required by paragraphs
(a), (b) and (c) of this Section as it considers to be advisable in order that
any event treated for Federal income tax purposes as a dividend of stock or
stock rights shall not be taxable to the recipients.

      (f) Except as herein otherwise provided, no adjustment in the Conversion
Price for any series of Convertible Securities shall be made by reason of the
issuance, in exchange for cash, property or services, of shares of Common Stock,
or any securities convertible into or exchangeable for shares of Common Stock,
or carrying the right to purchase any of the foregoing.

      (g) If the Company shall take a record of the holders of its shares of
Common Stock for the purpose of entitling them to receive any dividend or any
subscription or purchase rights or any distribution and shall, thereafter and
before the distribution to shareholders of any such dividend, subscription or
purchase rights or distribution, legally abandon its plan to pay or deliver such
dividend, subscription or purchase rights or distribution, then no adjustment of
the Conversion Price for any series of Convertible Securities shall be required
by reason of the taking of such record.

      (h) No adjustment in the Conversion Price for any series of Convertible
Securities shall be required unless such adjustment would require an increase or
decrease of at least 1% in such price; provided, however, that any adjustments
which by reason of this paragraph (h) are not

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<PAGE>
required to be made shall be carried forward and taken into account in any
subsequent adjustment. All calculations under this Article Fifteen shall be made
to the nearest cent or to the nearest one-hundredth of a share, as the case may
be.

      (i) Whenever the Conversion Price for any series of Convertible Securities
is adjusted as herein provided, the Company shall (i) forthwith place on file at
the Principal Office of the Trustee an Officers' Certificate showing in detail
the facts requiring such adjustment and the Conversion Price after such
adjustment and shall exhibit the same from time to time to any Holder of
Convertible Securities of such series desiring an inspection thereof, and (ii)
cause a notice stating that such adjustment has been effected and the adjusted
Conversion Price to be mailed to the Holders of Registered Convertible
Securities of such series at their last addresses as they shall appear on the
Security Register.

      (j) The Company may delete, modify or vary any of the provisions
applicable to conversion of the Convertible Securities of any series, or may add
new provisions applicable thereto, all as may be contained in the Board
Resolutions and Officers' Certificate or supplemental indenture establishing
such series.

      SECTION 1506.     EFFECT OF RECLASSIFICATIONS, CONSOLIDATIONS, MERGERS OR
SALES ON CONVERSION PRIVILEGE.

      In case of any reclassification or change of outstanding shares of the
class of Common Stock issuable upon conversion of the Convertible Securities
(other than a change in par value, or from par value to no par value, or from no
par value to par value, or as a result of a subdivision or combination), or in
case of any merger or consolidation of the Company with one or more other
corporations (other than a merger or consolidation in which the Company is the
continuing corporation and which does not result in any reclassification or
change of outstanding shares of Common Stock issuable upon conversion of the
Securities), or in case of the merger of the Company into another corporation,
or in case of any sale or conveyance to another corporation of the property of
the Company as an entirety or substantially as an entirety, the Holder of
Convertible Securities then outstanding shall have the right to convert such
Convertible Security into the kind and amount of shares of capital stock or
other securities and property, including cash, receivable upon such
reclassification, change, consolidation, merger, sale or conveyance by a holder
of the number of shares of Common Stock into which such Convertible Security
might have been converted immediately prior to such reclassification, change,
consolidation, merger, sale or conveyance. In any such case the Company, or such
successor or purchasing corporation, as the case may be, shall execute with the
Trustee one or more supplemental indentures (which shall conform to the Trust
Indenture Act of 1939 as in force at the date of the execution of such
supplemental indenture) containing provisions to the effect set forth above in
this Section 1506 and providing further for adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Article
Fifteen; and any such adjustment which shall be approved by the Board of
Directors and set forth in such supplemental indenture or supplemental
indentures shall be conclusive for all purposes of this Section, and the Trustee
shall not be under any responsibility to determine the correctness of any
provision contained in such supplemental indenture or supplemental indentures
relating to either the kind or amount of shares of stock or securities or
property receivable by Holders of Securities

                                       83
<PAGE>
of any series upon the conversion of their Convertible Securities after any such
reclassification, change, consolidation, merger, sale or conveyance.

      The above provisions of this Section 1506 shall similarly apply to
successive reclassifications, changes, consolidations, mergers, sales and
conveyances.

      SECTION 1507.     TAXES ON CONVERSIONS.

      The issue of stock certificates on conversions of Convertible Securities
shall be made without charge to the converting Holder of Convertible Securities
for any tax in respect of the issue thereof. The Company shall not, however, be
required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares in any name other than that of the Holder of
any Registered Convertible Security converted, and the Company shall not be
required to issue or deliver any such stock certificate unless and until the
Person or Persons requesting the issue thereof shall have paid to the Company
the amount of such tax or shall have established to the satisfaction of the
Company that such tax has been paid.

      SECTION 1508.     COMPANY TO RESERVE COMMON STOCK.

      The Company shall at all times reserve and keep available out of the
aggregate of its authorized but unissued shares or its issued shares held in its
treasury, or both, for the purpose of effecting the conversion of the
Securities, such number of its duly authorized shares of Common Stock as shall
from time to time be sufficient to effect the conversion of all outstanding
Securities.

      If any shares of Common Stock reserved or to be reserved for the purpose
of conversion of Securities hereunder require registration with or approval of
any governmental authority under any Federal or State law before such shares may
be validly delivered upon conversion, then the Company covenants that it will in
good faith and as expeditiously as possible endeavor to secure registration or
approval, as the case may be.

      The Company covenants that all shares of Common Stock which may be
delivered upon conversion of Convertible Securities shall upon delivery be fully
paid and nonassessable by the Company and free from all taxes, liens and charges
with respect to the issue or delivery thereof.

      SECTION 1509.     DISCLAIMER BY TRUSTEE OF RESPONSIBILITY FOR CERTAIN
MATTERS.

      Neither the Trustee nor any conversion agent shall at any time be under
any duty or responsibility to any Holder of Convertible Securities of any series
to determine whether any facts exist which may require any adjustment of the
Conversion Price for such series, or with respect to the nature or extent of any
such adjustment when made, or with respect to the method employed, or herein or
in any supplemental indenture provided to be employed, in making the same,
subject, however, to the provisions of Sections 315(a) through 315(b) of the
Trust Indenture Act. Neither the Trustee nor any conversion agent shall be
accountable with respect to the validity or value (or the kind or amount) of any
shares of Common Stock, or of any securities or property which may at any time
be issued or delivered upon the conversion of any Convertible Security; and
neither of them makes any representation with respect thereto. Neither the
Trustee

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<PAGE>
nor any conversion agent shall be responsible for any failure of the Company to
make any cash payment or to issue, transfer or deliver any shares of Common
Stock or stock certificates or other securities or property upon the surrender
of any Security for the purpose of conversion or, subject to Sections 315(a)
through 315(b) of the Trust Indenture Act, to comply with any of the covenants
of the Company contained in this Article Sixteen.

      SECTION 1510.     COMPANY TO GIVE NOTICE OF CERTAIN EVENTS.

      In the event:

            (1) that the Company shall pay any dividend or make any distribution
to the holders of shares of Common Stock otherwise than in cash charged against
consolidated net earnings or retained earnings of the Company and its
consolidated net earnings or retained earnings of the Company and its
consolidated subsidiaries or in Common Stock; or

            (2) that the Company shall offer for subscription or purchase, pro
rata, to the holders of shares of Common Stock any additional shares of stock of
any class or any securities convertible into or exchangeable for stock of any
class; or

            (3) of any reclassification or change in outstanding shares of the
class of Common Stock issuable upon the conversion of the Securities (other than
a change in par value, or from par value to no par value, or from no par value
to par value, or as a result of a subdivision or combination), or of any merger
or consolidation of the Company with, or merger of the Company into, another
corporation (other than a merger or consolidation in which the Company is the
continuing corporation and which does not result in any reclassification or
change of outstanding shares of Common Stock issuable upon conversion of the
Securities), or of any sale or conveyance to another corporation of the property
of the Company as an entirety or substantially as an entirety;

      then, and in any one or more of such events, the Company will give to the
Trustee and each conversion agent written notice thereof at least fifteen days
prior to (i) the record date fixed with respect to any of the events specified
in (1) and (2) above, and (ii) the effective date of any of the events specified
in (3) above; and shall mail promptly a copy of such notice to the Holders of
Registered Convertible Securities at their last addresses as they shall appear
upon the Security Register. Failure to give such notice, or any defect therein,
shall not affect the legality or validity of such dividend, distribution,
reclassification, consolidation, merger, sale, transfer, dissolution,
liquidation or winding up.

                                       85
<PAGE>
                                 ARTICLE SIXTEEN

                            MISCELLANEOUS PROVISIONS

      SECTION 1601.     SECURITIES IN FOREIGN CURRENCIES.

      Whenever this Indenture provides for (i) any action by, or the
determination of any of the rights of, Holders of Securities of any series in
which not all of such Securities are denominated in the same currency, or (ii)
any distribution to Holders of Securities, in the absence of any provision to
the contrary in the form of Security of any particular series, any amount in
respect of any Security denominated in a currency other than United States
dollars shall be treated for any such action or distribution as that amount of
United States dollars that could be obtained for such amount on such reasonable
basis of exchange and as of the record date with respect to Registered
Securities of such series (if any) for such action, determination of rights or
distribution (or, if there shall be no applicable record date, such other date
reasonably proximate to the date of such action, determination of rights or
distribution) as the Company may specify in a written notice to the Trustee or,
in the absence of such written notice, as the Trustee may determine.

                                    * * * * *

                                       86
<PAGE>
      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.

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

                                          NATIONAL CITY CORPORATION

                                          By: /s/ Thomas A. Richlovsky
                                              ----------------------------
                                          Name: Thomas A. Richlovsky
                                          Title: Senior Vice President and
                                                 Treasurer

                                          THE BANK OF NEW YORK, TRUSTEE

                                          By: /s/ Cynthia J. Chaney
                                              ----------------------------
                                          Name: Cynthia J. Chaney
                                          Title: Vice President

                                       87

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