Document:

Exhibit 10.23

 

 

AMENDMENT
I

 

TO THE

 

REINSURANCE
AGREEMENT

 

BETWEEN

 

AMERICAN
EQUITY INVESTMENT LIFE INSURANCE COMPANY

5000
Westown Parkway, Suite 440

WEST
DES MOINES, IOWA 50266

(Referred
to in this Amendment as the Company)

 

AND

 

HANNOVER
LIFE REASSURANCE COMPANY OF AMERICA

800 North Magnolia
Ave., Suite 1400

ORLANDO, FLORIDA
32803

(Referred to in
this Amendment as the Reinsurer)

 

 

AUTOMATIC YRT

AMENDMENT I

HA-AEIL-05

 

March 22,
2006

 

 

This
Amendment is to be attached to and made part of the Reinsurance Agreement
between the Company and the Reinsurer, which became effective October 1,
2005 (the “Reinsurance Agreement”). All provisions of the Reinsurance Agreement
not in conflict with the provisions of this Amendment shall remain unchanged.

 

The
Company and the Reinsurer hereby agree that the second part of Exhibit B-2
to the Reinsurance Agreement, which begins with the heading “(b) Waiver of Surrender Charge on Death” and continues
to the end of Exhibit B-2, should be deleted and replaced with:

 

(b) Waiver of
Surrender Charge on Death

 

In the event of the death
of the holder of one of the Reinsured Policies, the Company waives the
surrender charge that would have applied if the policy had been surrendered as
at the date of death. The cost to the Company of such waived surrender charges
is a Reinsured Risk under this Agreement.

 

The Reinsurer’s Share of
a ten percent (10%) portion of any such waived surrender charge is a Claim
Amount.

 

This Amendment is
effective as of 12:01 a.m. on January 1, 2006.

 

This Amendment has been
made in duplicate and is hereby executed by both parties.

 

AMERICAN EQUITY INVESTMENT LIFE
INSURANCE COMPANY

WEST DES MOINES, IOWA

 

	
  Date:

  	
   

  	
  3/27/06

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Wendy L. Carlson

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
  General Counsel

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Witness:

  	
   

  	
  /s/ Sandra Lockhart

  	
   

  

 

 

HANNOVER LIFE REASSURANCE COMPANY
OF AMERICA

ORLANDO, FLORIDA

 

	
  Date:

  	
   

  	
  3/29/06

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Jeffrey R. Burt

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
  VP – Marketing

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Witness:

  	
   

  	
  Gary L. GrayExhibit 10.24

 

AMENDMENT II

 

TO THE REINSURANCE
AGREEMENT

 

BETWEEN

 

AMERICAN
EQUITY INVESTMENT LIFE INSURANCE COMPANY

(Referred to in
this Amendment as the Company)

 

AND

 

HANNOVER
LIFE REASSURANCE COMPANY OF AMERICA

(Referred to in
this Amendment as the Reinsurer)

 

This Amendment is to be
attached to and made a part of the Automatic YRT Reinsurance Agreement
which became effective October 1, 2005, and shall become effective for
policies with issue dates on or after January 1, 2006. All provisions of
the Reinsurance Agreement not in conflict with the provisions of this Amendment
shall remain unchanged.

 

EXHIBIT A

 

REINSURER’S
SHARE AND COMPANY’S SHARE

 

The
Reinsurer’s Share is forty-seven percent (47%), which is the portion of the
Reinsured Risks accepted by the Reinsurer. The Company’s Share is fifty-three
percent (53%), which is the portion of the Reinsured Risks retained by the
Company.

 

EXECUTION

 

In
witness of the above, this Amendment is signed in duplicate at the dates and
places indicated with an effective date of January 1, 2006.

 

	
  HANNOVER
  LIFE REASSURANCE COMPANY

  	
  AMERICAN
  EQUITY INVESTMENT LIFE OF 

  
	
  AMERICA

  	
  INSURANCE
  COMPANY

  
	
  ORLANDO,
  FLORIDA

  	
  WEST
  DES MOINES, IOWA

  

 

	
  DATE:

  	
   

  	
  MARCH 29,
  2006

  	
   

  	
  DATE:

  	
   

  	
  3/29/06

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BY:

  	
   

  	
  /S/
  GARY L. GRAY

  	
   

  	
  BY:

  	
   

  	
  /S/
  JUDITH A. NAANEP

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TITLE:

  	
   

  	
  VICE
  PRESIDENT

  	
   

  	
  TITLE:

  	
   

  	
  VP,
  CORPORATE ACTUARY

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  WITNESS:

  	
   

  	
  /S/
  JEAN M. FAY

  	
   

  	
  WITNESS:

  	
   

  	
  /S/
  ELIZABETH CLARK

  
										

 

 

	
   

  	
   

  	
  AUTOMATIC
  YRT

  
	
   

  	
   

  	
  HA-AEIL-05

  
	
  March 29, 2006

  	
   

  	
  AMENDMENT
  IIExhibit 4.5

 

INDENTURE

LKQ Corporation

and

[TO BE NAMED],

Trustee

Dated as of
____________________

Debt Securities

 

TABLE OF CONTENTS

	
  

  	
   

  	
  Page

  
	
  ARTICLE 1
  Definitions and Rules of Construction; Applicability of the Trust
  Indenture Act

  	
   

  	
  1

  
	
  Section 1.01
  Definitions

  	
   

  	
  1

  
	
  Section 1.02
  Other Definitions

  	
   

  	
  3

  
	
  Section 1.03
  Rules of Construction

  	
   

  	
  4

  
	
  Section 1.04
  Trust Indenture Act

  	
   

  	
  4

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2 The Securities

  	
   

  	
  4

  
	
  Section 2.01
  Issuable in Series; Form and Dating

  	
   

  	
  4

  
	
  Section 2.02
  Execution and Authentication.

  	
   

  	
  7

  
	
  Section 2.03
  Agents

  	
   

  	
  7

  
	
  Section 2.04
  Paying Agent To Hold Money in Trust

  	
   

  	
  7

  
	
  Section 2.05
  Securityholder Lists

  	
   

  	
  8

  
	
  Section 2.06
  Transfer and Exchange.

  	
   

  	
  8

  
	
  Section 2.07
  Replacement Securities

  	
   

  	
  8

  
	
  Section 2.08
  Outstanding Securities.

  	
   

  	
  8

  
	
  Section 2.09
  Treasury Securities Disregarded for Certain Purposes

  	
   

  	
  9

  
	
  Section 2.10
  Temporary Securities.

  	
   

  	
  9

  
	
  Section 2.11
  Global Securities

  	
   

  	
  9

  
	
  Section 2.12
  Cancellation

  	
   

  	
  10

  
	
  Section 2.13
  Defaulted Interest

  	
   

  	
  10

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3 Redemption

  	
   

  	
  10

  
	
  Section 3.01
  Notice to Trustee

  	
   

  	
  10

  
	
  Section 3.02
  Selection of Securities To Be Redeemed.

  	
   

  	
  11

  
	
  Section 3.03
  Notice of Redemption.

  	
   

  	
  11

  
	
  Section 3.04
  Effect of Notice of Redemption

  	
   

  	
  12

  
	
  Section 3.05
  Deposit of Redemption Price

  	
   

  	
  12

  
	
  Section 3.06
  Securities Redeemed in Part

  	
   

  	
  12

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4 Covenants

  	
   

  	
  12

  
	
  Section 4.01
  Payment of Securities

  	
   

  	
  12

  
	
  Section 4.02
  SEC Reports

  	
   

  	
  13

  
	
  Section 4.03
  Compliance Certificate

  	
   

  	
  13

  
	
  Section 4.04
  Notice of Certain Events

  	
   

  	
  13

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5 Successors

  	
   

  	
  13

  
	
  Section 5.01
  When Company May Merge, etc.

  	
   

  	
  13

  
	
  Section 5.02
  Successor Corporation Substituted

  	
   

  	
  14

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6 Defaults and Remedies

  	
   

  	
  14

  
	
  Section 6.01
  Events of Default

  	
   

  	
  14

  
	
  Section 6.02
  Acceleration.

  	
   

  	
  15

  

 

 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section 6.03
  Other Remedies

  	
   

  	
  16

  
	
  Section 6.04
  Waiver of Past Defaults

  	
   

  	
  16

  
	
  Section 6.05
  Control by Majority

  	
   

  	
  16

  
	
  Section 6.06
  Limitation on Suits

  	
   

  	
  16

  
	
  Section 6.07
  Rights of Holders To Receive Payment.

  	
   

  	
  17

  
	
  Section 6.08
  Priorities.

  	
   

  	
  17

  
	
  Section 6.09
  Undertaking for Costs

  	
   

  	
  17

  
	
  Section 6.10
  Proof of Claim

  	
   

  	
  18

  
	
  Section 6.11
  Actions of a Holder.

  	
   

  	
  18

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7 Trustee

  	
   

  	
  18

  
	
  Section 7.01
  Duties of Trustee

  	
   

  	
  18

  
	
  Section 7.02
  Rights of Trustee

  	
   

  	
  19

  
	
  Section 7.03
  Individual Rights of Trustee; Disqualification

  	
   

  	
  20

  
	
  Section 7.04
  Trustee’s Disclaimer.

  	
   

  	
  20

  
	
  Section 7.05
  Notice of Defaults

  	
   

  	
  20

  
	
  Section 7.06
  Reports by Trustee to Holders

  	
   

  	
  20

  
	
  Section 7.07
  Compensation and Indemnity.

  	
   

  	
  20

  
	
  Section 7.08
  Replacement of Trustee

  	
   

  	
  21

  
	
  Section 7.09
  Successor Trustee by Merger, etc.

  	
   

  	
  22

  
	
  Section 7.10
  Eligibility

  	
   

  	
  22

  
	
  Section 7.11
  Preferential Collection of Claims Against Company

  	
   

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8 Satisfaction and Discharge

  	
   

  	
  23

  
	
  Section 8.01
  Satisfaction and Discharge of Indenture.

  	
   

  	
  23

  
	
  Section 8.02
  Application of Trust Funds

  	
   

  	
  24

  
	
  Section 8.03
  Reinstatement

  	
   

  	
  24

  
	
  Section 8.04
  Repayment to Company

  	
   

  	
  24

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9 Amendments

  	
   

  	
  25

  
	
  Section 9.01
  Without Consent of Holders

  	
   

  	
  25

  
	
  Section 9.02
  With Consent of Holders

  	
   

  	
  25

  
	
  Section 9.03
  Compliance with Trust Indenture Act and Section 12.03

  	
   

  	
  26

  
	
  Section 9.04
  Revocation and Effect of Consents and Waivers.

  	
   

  	
  26

  
	
  Section 9.05
  Notice of Amendment; Notation on or Exchange of Securities

  	
   

  	
  26

  
	
  Section 9.06
  Trustee Protected

  	
   

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10 Conversion

  	
   

  	
  27

  
	
  Section 10.01
  To be Supplemented

  	
   

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11 Subordination

  	
   

  	
  27

  
	
  Section 11.01
  To be Supplemented

  	
   

  	
  27

  

 

 ii
 

 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE 12 Miscellaneous

  	
   

  	
  27

  
	
  Section 12.01
  Notices

  	
   

  	
  27

  
	
  Section 12.02
  Communication by Holders with Other Holders

  	
   

  	
  28

  
	
  Section 12.03
  Certificate and Opinion as to Conditions Precedent

  	
   

  	
  28

  
	
  Section 12.04
  Statements Required in Certificate or Opinion

  	
   

  	
  28

  
	
  Section 12.05
  Rules by Trustee and Agents

  	
   

  	
  29

  
	
  Section 12.06
  Legal Holidays

  	
   

  	
  29

  
	
  Section 12.07
  No Recourse Against Others

  	
   

  	
  29

  
	
  Section 12.08
  Duplicate Originals

  	
   

  	
  29

  
	
  Section 12.09
  Variable Provisions

  	
   

  	
  29

  
	
  Section 12.10
  Governing Law

  	
   

  	
  30

  

 

 iii

CROSS-REFERENCE TABLE

	
  TIA Section

  	
   

  	
  Indenture Section

  	
   

  
	
  310

  	
  (a)(1)

  	
   

  	
  7.10

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  7.10

  	
   

  
	
   

  	
  (a)(3)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (a)(5)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.08; 7.10

  	
   

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  	
   

  
	
  311

  	
  (a)

  	
   

  	
  7.11

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.11

  	
   

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  	
   

  
	
  312

  	
  (a)

  	
   

  	
  2.05

  	
   

  
	
   

  	
  (b)

  	
   

  	
  12.02

  	
   

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  	
   

  
	
  313

  	
  (a)

  	
   

  	
  7.06

  	
   

  
	
   

  	
  (b)(1)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (b)(2)

  	
   

  	
  7.00

  	
   

  
	
   

  	
  (c)

  	
   

  	
  7.06

  	
   

  
	
   

  	
  (d)

  	
   

  	
  7.06

  	
   

  
	
  314

  	
  (a)(1)

  	
   

  	
  4.02

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  12.01

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
  4.03

  	
   

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (c)

  	
   

  	
  2.02; 7.02(b); 8.01(3)

  	
   

  
	
   

  	
  (c)(1)

  	
   

  	
  13.04

  	
   

  
	
   

  	
  (c)(2)

  	
   

  	
  13.04

  	
   

  
	
   

  	
  (c)(3)

  	
   

  	
  13.04

  	
   

  
	
   

  	
  (d)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (e)

  	
   

  	
  4.03; 12.04

  	
   

  
	
   

  	
  (f)

  	
   

  	
  4.03

  	
   

  
	
  315

  	
  (a)(1)

  	
   

  	
  6.05; 7.01(b)(t)

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  7.01(b)(2)

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.05; 12.01

  	
   

  
	
   

  	
  (c)

  	
   

  	
  7.01(a)

  	
   

  
	
   

  	
  (d)(1)

  	
   

  	
  7.0t(b)

  	
   

  
	
   

  	
  (d)(2)

  	
   

  	
  7.01(c)(2)

  	
   

  
	
   

  	
  (d)(3)

  	
   

  	
  6.05; 7.01(c)(3)

  	
   

  
	
   

  	
  (e)

  	
   

  	
  6.09

  	
   

  
	
  316

  	
  (a)(last
  sentence)

  	
   

  	
  2.09

  	
   

  
	
   

  	
  (a)(t)(A)

  	
   

  	
  6.05

  	
   

  
	
   

  	
  (a)(1)(B)

  	
   

  	
  6.04

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
   

  	
  6.07

  	
   

  
	
   

  	
  (c)

  	
   

  	
  9.04

  	
   

  
	
  317

  	
  

  	
   

  	
  (a)(1)

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
   

  	
  2.04

  	
   

  
	
  318

  	
  (a)

  	
   

  	
   

  	
   

  

 

N.A. means not
applicable.

Note:  This Cross-Reference Table shall not, for any
purpose, be deemed to be part of this Indenture.

 
  

INDENTURE dated as of ____________, between LKQ
Corporation, a corporation organized and existing under the laws of
Delaware  (“Company”), and
[_____________], a [New York] corporation (“Trustee”).

The Company has duly authorized the execution and delivery
of this Indenture to provide for the issuance from time to time of its
debentures, notes or other evidences of indebtedness to be issued in one or
more series (the “Securities”), as herein provided, up to such principal amount
as may from time to time be authorized in or pursuant to one or more
resolutions of the Board of Directors or by supplemental indenture.

Each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of each Series of
the Securities:

ARTICLE 1

Definitions and Rules of
Construction; Applicability of the Trust Indenture Act

Section 1.01
Definitions.

“Affiliate” Any Person controlling or controlled by or
under common control with the Company. “Control” for this definition means the
power to direct the management and policies of a Person, directly or
indirectly, whether through the ownership of voting securities, by contract, or
otherwise. The terms  “controlling” and “controlled”
have meanings correlative to the foregoing.

“Agent” Any Registrar, Paying Agent or Conversion
Agent.

“Board” The Board of Directors of the Company or any
officer or committee thereof authorized to act for such Board.

“Business Day” A day that is not a Legal Holiday.

“Company” The party named as such above until a
successor which duly assumes the obligations upon the Securities and under the
Indenture replaces it and thereafter means the successor.

“Debt” means, with respect to any Person,

(i)                                     any
obligation of such Person to pay the principal of, premium of, if any, interest
on (including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company, whether or not a
claim for such post-petition interest is allowed in such proceeding),
penalties, reimbursement or indemnification amounts, fees, expenses or other
amounts relating to any indebtedness, and any other liability, contingent or
otherwise, of such Person

 1
 

 
  

(A)                              for
borrowed money (including instances where the recourse of the lender is to the
whole of the assets of such Person or to a portion thereof),

(B)                                evidenced
by a note, debenture or similar instrument (including a purchase money
obligation) including securities,

(C)                                for
any letter of credit or performance bond in favor of such Person, or

(D)                               for
the payment of money relating to a capitalized lease obligation;

(ii)                                  any
liability of others of the kind described in the preceding clause (i), which
the Person has guaranteed or which is otherwise its legal liability;

(iii)                               any obligation of the
type described in clauses (i) and (ii) secured by a lien to which the
property or assets of such Person are subject, whether or not the obligations
secured thereby shall have been assumed by or shall otherwise be such Person’s
legal liability; and

(iv)                              any
and all deferrals, renewals, extensions and refunding of, or amendments,
modifications or supplements to, any liability of the kind described in any of
the preceding clauses (i), (ii) or (iii).

“Default” Any event which is, or after notice or
passage of time would be, an Event of Default.

“Exchange Act” The Securities Exchange Act of 1934, as
amended.

“Holder” or “Securityholder” A Person in whose name a
Security is registered.

“Indenture” This Indenture as amended from time to
time, including the terms of the Securities and any amendments.

“Officers’ Certificate” A certificate signed by two
Officers, one of whom must be the President, the Treasurer or a Vice-President
of the Company. See Sections 12.03 and 12.04.

“Opinion of Counsel” Written opinion from legal
counsel who is acceptable to the Trustee. See Sections 12.03 and 12.04.

“Person” Any individual, corporation, partnership,
joint venture, association, limited liability company, joint stock company,
trust, unincorporated organization or government or other agency or political
subdivision thereof.

“Principal” of a Security means the principal of the
Security plus the premium, if any, on the Security which is due or overdue or
is to become due at the relevant time.

 2
 

 
  

“Proceeding” A liquidation, dissolution, bankruptcy,
insolvency, reorganization, receivership or similar proceeding under Bankruptcy
Law, an assignment for the benefit of creditors, any marshalling of assets or
liabilities, or winding up or dissolution, but shall not include any
transaction permitted by and made in compliance with Article 5.

“SEC” The United States Securities and Exchange
Commission.

“Securities” The Securities described above issued
under this Indenture.

“Securities Resolution” means a resolution adopted by
the Board or by a committee thereof pursuant to Board delegation authorizing a Series or
a supplemental indenture authorizing a Series executed by an authorized
Officer.

“Series” means a series of Securities or the
Securities of the series.

“TIA” The Trust Indenture Act of 1939, as amended, as
in effect on the date of this Indenture, except as provided in Sections 1.04
and 9.03.

“Trust Officer” Any officer or assistant officer of
the Trustee assigned by the Trustee to administer its corporate trust matters
or to whom a matter concerning the Indenture may be referred.

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

“U.S. Government Obligations” Securities that are
direct, noncallable, nonredeemable obligations of, or noncallable,
nonredeemable obligations guaranteed by, the United States of America for the
timely payment of which obligation or guarantee the full faith and credit of
the United States of America is pledged, or funds consisting solely of such
securities, including funds managed by the Trustee or one of its Affiliates
(including such funds for which it or its Affiliates receives fees in
connection with such management).

Section 1.02
Other Definitions.

	
  Term

  	
   

  	
  Defined in Section

  	
   

  
	
  “Bankruptcy Law”

  	
   

  	
  6.01

  	
   

  
	
  “Conversion
  Agent”

  	
   

  	
  2.03

  	
   

  
	
  “Custodian”

  	
   

  	
  6.01

  	
   

  
	
  “Defaulted
  Interest”

  	
   

  	
  2.13

  	
   

  
	
  “Event of
  Default”

  	
   

  	
  6.01

  	
   

  
	
  “Legal Holiday”

  	
   

  	
  12.06

  	
   

  
	
  “Notice”

  	
   

  	
  12.01

  	
   

  
	
  “Officer”

  	
   

  	
  12.09

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.03

  	
   

  
	
  “Registrar”

  	
   

  	
  2.03

  	
   

  

 

 3
 

 
  

Section 1.03
Rules of Construction.

Unless the context otherwise requires:

(1)                                  a
term defined in Sections 1.01 or 1.02 has the meaning assigned to it therein,
and terms defined in the TIA have the meanings assigned to them in the TIA;

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

(3)                                  “or”
is not exclusive;

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

(5)                                  provisions
apply to successive events and transactions;

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

(7)                                  “including”
means including without limitation.

Section 1.04
Trust Indenture Act.

The provisions of TIA § § 310 through 317 that impose
duties on any Person (including the provisions automatically deemed included
herein unless expressly excluded by this Indenture) are a part of and govern
this Indenture upon and so long as the Indenture and Securities are subject to
the TIA. If any provision of this Indenture limits, qualifies or conflicts with
such duties, the imposed duties shall control. If a provision of the TIA
requires or permits a provision of this Indenture and the TIA provision is
amended, then the Indenture provision shall be automatically amended to like
effect.

Any reference to a requirement under the TIA shall
only apply upon and so long as the Indenture is qualified under and subject to
the TIA.

ARTICLE 2

The Securities

Section 2.01
Issuable in Series; Form and Dating.

The aggregate principal
amount of Securities that may be authenticated and delivered under this
Indenture is unlimited. The Securities may be issued in one or more Series. There
shall be established in or pursuant to a Securities Resolution, prior to the
issuance of Securities of any Series:

 4
 

 
  

(a)                                  the
title of the Series (which shall distinguish the Series from all
other securities);

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

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

(d)                                 the
date or dates on which the principal of the Series is payable;

(e)                                  the
rate or rates that may be fixed or variable at which the Series shall bear
interest, if any, or the manner in which such rate or rates shall be
determined, the date or dates from which such interest shall accrue, the
interest payment dates on which such interest shall be payable and the record
dates for the determination of Holders to whom interest is payable;

(f)                                    the
place or places where the principal of and any interest on the Series shall
be payable, if other than as provided herein;

(g)                                 the
currency or currencies in which the Series is issued and payable;

(h)                                 the
conversion or exchange provisions applicable to the Series;

(i)                                     whether
and upon what terms the Series will be convertible into equity or debt
securities of the Company;

(j)                                     the
price or prices at which (if any), the period or periods within which (if any)
and the terms and conditions upon which (if other than as provided herein) the Series may
be redeemed, in whole or in part, at the option, or as an obligation, of the
Company;

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

(l)                                     if
other than denominations of $1,000 and any multiple thereof, the denominations
in which the Series shall be issuable;

(m)                               whether
the Series shall be issued in whole or in part in the form of a global
Security or Securities; the terms and conditions, if any, upon which such
global Security or Securities may be exchanged in whole or in part

 5
 

 
  

for other individual
securities, and the depositary for such global Security and Securities;

(n)                                 if
other than the principal amount thereof, the portion of the principal amount of
the Series which shall be payable upon declaration of acceleration of the
maturity thereof pursuant to Section 6.02 hereof;

(o)                                 any
Events of Default with respect to the Series, if not set forth herein;

(p)                                 any
additions or changes to, or deletions from, the covenants set forth in Article 4
or the acceleration provisions applicable to the Series;

(q)                                 the
provisions, if any relating to any security provided for the Series;

(r)                                    the
Trustee for the Series;

(s)                                  any
other terms of the Series (which terms shall not be inconsistent with the
provisions of this Indenture, but which may modify or delete any provision of
this Indenture with respect to such Series; provided, however, that no such
term may modify or delete any provision hereof if imposed by the TIA; and
provided, further, that any modification or deletion of the rights, duties or
immunities of the Trustee hereunder shall have been consented to in writing by
the Trustee).

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

The principal of and any interest on the Securities of
any Series shall be payable at the office or agency of the Company
designated in the form of Security for the Series (each such place herein
called the “Place of Payment”); provided, however, that payment of interest may
be made at the option of the Company by check mailed to the address of the
Person entitled thereto as such address shall appear in the register of
Securities for such Series referred to in Section 2.03 hereof.

Each Security shall be in one of the forms approved
from time to time by or pursuant to a Securities Resolution, or established in
one or more indentures supplemental hereto. Prior to the delivery of a Security
of any Series to the Trustee for authentication in any form approved by or
pursuant to a Securities Resolution, the Company shall deliver to the Trustee
the Securities Resolution by or pursuant to which such form of Security for
such Series has been approved, which Securities Resolution shall have
attached thereto a true and correct copy of the form of Security for such Series that
has been approved by or pursuant thereto.

The Securities may have notations, legends or
endorsements required by Section 2.11, law, stock exchange rule, automated
quotation system, agreements to which the Company is subject, or usage. Each
Security shall be dated the date of its authentication.

 6

 

Section 2.02
Execution and Authentication.

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

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

A Security shall not be valid until an authorized
signatory of the Trustee manually signs the certificate of authentication on
the Security. The signature shall be conclusive evidence that the Security has
been authenticated under this Indenture.

The Trustee shall authenticate Securities of any Series for
original issue up to the limit, if any, specified in the Securities Resolution
for the Series amount stated.

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

Section 2.03
Agents.

The Company shall maintain an office or agency where
Securities of a particular Series may be presented for registration of
transfer or for exchange (“Registrar”), where Securities of that Series may
be presented for payment (“Paying Agent”) and where Securities of that Series may
be presented for conversion to the extent and in the manner set forth in Article 10
(“Conversion Agent”). Whenever the Company must issue or deliver Securities of
a particular Series pursuant to this Indenture, the Trustee shall
authenticate the Securities of that Series at the Company’s request. The
Registrar of a particular Series shall keep a register of the Series and
of their transfer and exchange.

The Company may appoint more than one Registrar,
Paying Agent or Conversion Agent for any Series. The Company shall notify the
Trustee of the name and address of any Agent not a party to this Indenture. If
the Company does not appoint another Registrar, Paying Agent, or Conversion
Agent for any Series, the Trustee shall act as such.

Section 2.04
Paying Agent To Hold Money in Trust.

On or prior to each due date of the Principal and
interest on any Security of any Series, the Company shall deposit with the
Paying Agent for such Series a sum sufficient to pay such Principal and
interest when so becoming due. The Company shall require each Paying Agent
(other than the Trustee) to agree in writing that the Paying Agent will hold in
trust for the benefit of Securityholders of the particular Series for
which it is acting or the Trustee all money held by the Paying Agent for the
payment of the Principal of or interest on the Securities of such Series and
will notify the Trustee of any Default by the Company in making any such
payment and will comply with Article 11. While any such Default continues,
the Trustee may require a Paying Agent of such Series to pay all money
held by it to the Trustee of such Series. The Company at any time may require a
Paying Agent of the particular Series for which it is acting to pay all

 7
 

 

money held by it with respect to such Series to
the Trustee of such Series and to account for any funds disbursed by the
Paying Agent. Upon complying with this Section, the Paying Agent of such Series shall
have no further liability for the money delivered to the Trustee of such Series.
If the Company or any Affiliate acts as Paying Agent for any Series, it shall
segregate the money held by it as Paying Agent of such Series and hold it
as a separate trust fund.

Section 2.05
Securityholder Lists.

The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders separately by Series. If the Trustee is not the
Registrar of any Series, the Company shall furnish to the Trustee, in writing
at least 10 Business Days before each interest payment date and at such other
times as the Trustee may request a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of Securityholders of
such Series.

Section 2.06
Transfer and Exchange.

The Securities shall be issued in registered form and
shall be transferable only upon surrender of a Security for registration of
transfer. When a Security of any Series is presented to the Registrar for
such Series with a request to register a transfer or to exchange them for
an equal principal amount of Securities of such Series of other
denominations, the Registrar for such Series shall register the transfer
or make the exchange if its requirements for such transactions are met and the
Security of such Series has not been redeemed. The Company may charge a
reasonable fee for any registration of transfer or exchange but not for any
exchange pursuant to Section 2.10, 3.06 or 9.05.

All Securities issued upon any transfer or exchange
pursuant to the terms of this Indenture will evidence the same debt and will be
entitled to the same benefits under this Indenture as the Securities
surrendered upon such transfer or exchange.

Section 2.07
Replacement Securities.

If the Holder of a Security claims that the Security
has been lost, destroyed or wrongfully taken, then, in the absence of notice to
the Company that the Security has been acquired by a protected purchaser, the
Company shall issue a replacement Security of the same Series. If required by
the Trustee or the Company, an indemnity bond must be provided which is
sufficient in the judgment of both to protect the Company, the Trustee and the
Agents from any loss which any of them may suffer if a Security is replaced. The
Company or the Trustee may charge the Holder for its expenses in replacing a
Security.

Every replacement Security is an additional obligation
of the Company.

Section 2.08
Outstanding Securities.

Securities of any Series outstanding at any time
are all Securities of such Series authenticated by the Trustee of such Series except
for those canceled by the Registrar of such Series, those delivered to it for
cancellation and those described in this Section as not

 8
 

 

outstanding. A Security does not cease to be
outstanding because the Company or an Affiliate holds the Security.

If a Security is replaced pursuant to Section 2.07,
it ceases to be outstanding unless the Company receives proof satisfactory to
it that the replaced Security is held by a protected purchaser.

If Securities are considered paid under Section 4.01,
they cease to be outstanding and interest on them ceases to accrue.

Section 2.09
Treasury Securities Disregarded for Certain Purposes.

In determining whether the Holders of the required
Principal amount of Securities have concurred in any direction, waiver or
consent, Securities owned by the Company or an Affiliate shall be disregarded
and deemed not to be outstanding, except that, for the purposes of determining
whether the Trustee shall be protected in relying on any such direction, waiver
or consent, only Securities which the Trustee knows are so owned shall be so
disregarded. Securities so owned which have been pledged in good faith shall
not be disregarded if the pledgee establishes to the satisfaction of the
Trustee the pledgee’s right to deliver any such direction, waiver or consent
with respect to the Securities and that the pledgee is not the Company or any
other obligor upon the Securities or any Affiliate of the Company or of such
other obligor.

Section 2.10
Temporary Securities.

Until definitive Securities are ready for delivery,
the Company may use temporary Securities. Temporary Securities shall be substantially
in the form of definitive Securities but may have variations that the Company
considers appropriate for temporary Securities. Without unreasonable delay, the
Company shall deliver definitive Securities in exchange for temporary
Securities.

Section 2.11
Global Securities.

The Company may issue some or all of the Securities of
any Series in temporary or permanent global form. The Company may issue a
global Security of any Series only to a depository. A depository may
transfer a global Security of any Series only to its nominee or to a
successor depository. A global Security of any Series shall represent the
amount of Securities of such Series specified in the global Security. A
global Security of any Series may have variations that the depository requires
or that the Company considers appropriate for such a security.

Beneficial owners of part or all of a global Security
of any Series are subject to the rules of the depository as in effect
from time to time.

The Company, the Trustee and the Agents shall not be
responsible for any acts or omissions of a depository, for any depository
records of beneficial ownership interests or for any transactions between the
depository and beneficial owners.

 9
 

 

Section 2.12 Cancellation.

The Company at any time may deliver Securities to the
Trustee for cancellation. The Paying Agent and Conversion Agent, if not the
Trustee, shall forward to the Trustee any Securities surrendered to them for
payment or conversion. The Trustee shall cancel all Securities surrendered for registration
of transfer, exchange, payment, conversion or cancellation and shall dispose of
canceled Securities according to its standard procedures or as the Company
otherwise directs. The Company may not issue new Securities to replace
Securities that it has paid or which have been delivered to the Trustee for
cancellation or that any Securityholder has converted.

Section 2.13
Defaulted Interest.

If the Company defaults in a payment of interest on
the Securities of any Series (“Defaulted Interest”) such Defaulted
Interest shall cease to be payable to the Securityholder of such Series on
the relevant record date and shall be paid by the Company, at its election,
under either (1) or (2) below:

(1)                                  The
Company may pay the Defaulted Interest together with interest thereon to the
Persons which are Securityholders of such Series on a subsequent special
record date. The Company shall notify the Trustee of such Series of the
amount of Defaulted Interest together with interest thereon to be paid and pay
over such amount to the Trustee of such Series. The Trustee of such Series shall
then fix a special record date and at the Company’s expense shall notify
Securityholders of such Series not less than 10 days prior to such special
record date of the proposed payment, of the special record date, and of the
payment date.

(2)                                  The
Company may make payment of Defaulted Interest together with interest thereon
in any lawful manner not inconsistent with the requirements of any securities
exchange or automated quotation system on 
which the Securities of such Series may be listed or designated for
issuance. The Company shall give prompt notice to the Trustee and
Securityholders of such Series that it intends to make payment pursuant to
this Section 2.13(2) and of the special record date of the proposed
payment, and of the payment date.

ARTICLE 3

Redemption

Section 3.01
Notice to Trustee.

If Securities of any Series are to be redeemed,
the Company shall notify the Trustee of the redemption date, the Principal
amount of Securities of such Series to be redeemed and the provision of
the Series permitting or requiring the redemption.

 10
 

 

The Company may reduce the Principal amount of
Securities of any Series required to be redeemed pursuant to the
provisions of such Series if it notifies the Trustee of the amount of the
credit and the basis for it by delivery of an Officers’ Certificate. If the
reduction is based on a credit for redeemed, converted or canceled Securities
that the Company has not previously delivered to the Trustee for cancellation,
the Company shall deliver such Securities to the Registrar before the selection
of securities to be redeemed.

The Company shall give each notice provided for in
this Section at least 50 days before the redemption date unless a shorter
period is satisfactory to the Trustee. If fewer than all the Securities of any Series are
to be redeemed, the record date relating to such redemption shall be selected
by the Company and given to the Trustee, which record date shall be not less
than 15 days prior to the redemption date.

Section 3.02
Selection of Securities To Be Redeemed.

If less than all the
Securities of any Series are to be redeemed, the Trustee shall select the
Securities of such Series to be redeemed by a method that complies with
the requirements, if any, of any stock exchange on which the Securities of such
Series are listed and that the Trustee considers fair and appropriate,
which may include selection pro rata or by lot. The Trustee shall make the
selection from Securities of such Series outstanding not previously called
for redemption. The Trustee may select for redemption portions of the Principal
of Securities of such Series that have denominations larger than $1,000. Securities
and portions thereof selected by the Trustee shall be in amounts of $1,000 or
whole multiples of $1,000. Provisions of this Indenture that apply to
Securities called for redemption also apply to portions of Securities called
for redemption.

Section 3.03
Notice of Redemption.

Except as may be
otherwise provided as to any particular Series, at least 30 days but not more
than 60 days before a redemption date, the Company shall mail a notice of
redemption to each Holder whose Securities are to be redeemed.

The notice shall state that it is a notice of
redemption, identify the Securities of the Series to be redeemed and shall
state:

(1)                                  the
redemption date;

(2)                                  the
redemption price;

(3)                                  the
name and address of the Paying Agent and Conversion Agent;

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

(5)                                  that,
unless the Company defaults in making such redemption payment or the Paying
Agent is prohibited from making such payment pursuant to the terms of this
Indenture, interest on Securities (or portion thereof) called for redemption
ceases to accrue on and after the redemption date; and

 11
 

 

(6)                                  list
the CUSIP number of the Series of Securities and state that no
representation is made as to the correctness or accuracy of the CUSIP number,
if any, listed in such notice or printed on the Securities.

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

Section 3.04
Effect of Notice of Redemption.

Once notice of redemption is mailed, Securities called
for redemption become due and payable on the redemption date at the redemption
price. Upon surrender to the Paying Agent, such Securities shall be paid at the
redemption price stated in the notice, plus accrued interest to the redemption
date. Failure to give notice or any defect in the notice to any Holder shall
not affect the validity of the notice to any other Holder.

Section 3.05
Deposit of Redemption Price.

On or before the redemption date, the Company shall
deposit with the Paying Agent (or, if the Company or any Affiliate is the
Paying Agent, shall segregate and hold in trust) money sufficient to pay the
redemption price of, and accrued interest on, all Securities to be redeemed on
that date other than Securities or portions of Securities called for redemption
which have been delivered by the Company to the Registrar for cancellation. The
Paying Agent shall return to the Company any money not required for that
purpose because of conversion of Securities.

Unless the Company shall default in the payment of
Securities (and accrued interest) called for redemption, interest on such
Securities shall cease to accrue after the redemption date.

Section 3.06
Securities Redeemed in Part.

Upon surrender of a Security that is redeemed in part,
the Company shall deliver to the Holder (at the Company’s expense) a new
Security of the same Series equal in Principal amount to the unredeemed
portion of the Security surrendered.

ARTICLE 4

Covenants

Section 4.01
Payment of Securities.

The Company shall pay the Principal of and interest on
the Securities of any Series on the dates and in the manner provided in
the Securities of such Series and this Indenture. Principal and interest
shall be considered paid on the date due if the Paying Agent holds in
accordance with this Indenture on that date money sufficient to pay all
Principal and interest then due and the Paying Agent is not prohibited from
paying such money to the Holders of such Series on such date pursuant to
the terms of this Indenture.

 12
 

 

The Company shall pay interest on overdue Principal of
any Series at the rate borne by the Securities of any Series; it shall pay
interest on overdue Defaulted Interest at the same rate to the extent lawful.

Section 4.02
SEC Reports.

The Company shall file with the Trustee within 15 days
after it files them with the SEC copies of the annual reports and of the
information, documents, and other reports which the Company is required to file
with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The
Company will cause any quarterly and annual reports which it makes available to
its stockholders to be mailed to the Holders. The Company will also comply with
the other provisions of TIA § 314(a). 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 notice or 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).

Section 4.03
Compliance Certificate.

The Company shall deliver to the Trustee, within 105
days after the end of each fiscal year of the Company, a brief certificate
signed by the principal executive officer, principal financial officer or
principal accounting officer of the Company, as to the signer’s knowledge of
the Company’s compliance with all conditions and covenants contained in this
Indenture (determined without regard to any period of grace or requirement of
notice provided herein).

Section 4.04
Notice of Certain Events.

The Company shall give prompt written notice to the
Trustee and any Paying Agent with respect to any Series of (i) any
Proceeding, (ii) any Default or Event of Default, (iii) any cure or
waiver of any Default or Event of Default, and (iv) if and when the
Securities of such Series are listed on any stock exchange.

ARTICLE 5

Successors

Section 5.01
When Company May Merge, etc.

Except as may otherwise be provided as to any
particular Series, the Company shall not consolidate or merge with or into, or
transfer all or substantially all of its assets to, any Person unless:

(1)                                  either
the Company shall be the resulting or surviving entity or such person is a
corporation organized and existing under the laws of the United States, a State
thereof or the District of Columbia;

 13
 

 

(2)                                  if
the Company is not the resulting or surviving entity, such Person assumes by
supplemental indenture all the obligations of the Company under the Securities
and this Indenture; and

(3)                                  immediately
before and immediately after the transaction no Default exists.

The Company shall deliver to the Trustee prior to the
proposed transaction an Officers’ Certificate and an Opinion of Counsel, each
of which shall state that such consolidation, merger or transfer and such
supplemental indenture comply with this Article 5 (other than as to
compliance with Section 5.01(3), as to which no opinion need be given in
the Opinion of Counsel) and that all conditions precedent herein provided for
relating to such transaction have been complied with.

Section 5.02 Successor
Corporation Substituted.

Upon any consolidation or merger, or any transfer of
all or substantially all of the assets of the Company in accordance with Section 5.01,
the successor corporation formed by such consolidation or into which the
Company is merged or to which such transfer is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under
this Indenture and the Securities with the same effect as if such successor
corporation had been named as the Company herein and in the Securities. Thereafter
the obligations of the Company under the Securities and Indenture shall
terminate except for the obligation to pay the Principal of and interest on the
Securities in the case of a transfer.

ARTICLE 6

Defaults and Remedies

Section 6.01
Events of Default.

An “Event of Default” occurs with respect to
Securities of any particular Series if, unless in the establishing
Securities Resolution or supplemental indenture for such Series it is
provided that such Series shall not have the benefit of said Event of
Default:

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

(2)                                  the
Company Defaults in the payment of the Principal of any Security of that Series when
the same becomes due and payable at maturity, upon redemption or otherwise;

(3)                                  the
Company fails to comply with any of its other agreements in the Securities of
that Series or this Indenture with respect to that Series and such
failure continues for the period and after the notice specified below;

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

 14
 

 

(A)                              commences
a voluntary case,

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

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

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

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

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

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

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

(6)                                  an
Event of Default provided in the establishing Securities Resolution or
supplemental indenture for that Series occurs.

The foregoing will constitute Events of Default
whatever the reason for any such Event of Default, whether it is voluntary or
involuntary, or is effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body.

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

A Default under clause (3) is not an Event of
Default until the Trustee or the Holders of at least 25% in Principal amount of
the Securities of that Series notify the Company and the Trustee of that Series of
the Default and the Company does not cure the Default, or it is not waived,
within 60 days after receipt of the notice. The notice must specify the
Default, demand that it be remedied to the extent consistent with law, and
state that the notice is a “Notice of Default.”

Section 6.02
Acceleration.

If an Event of Default with respect to any Series occurs
and is continuing, the Trustee by notice to the Company, or the Holders of at
least 25% in Principal amount of the Series by notice to the Company and
the Trustee of that Series, may declare the Principal of and accrued interest
on all the Securities of such Series to be due and payable. Upon such
declaration the Principal and interest shall be due and payable immediately.

 15

 

The Holders of a majority in Principal amount of the Series by
notice to the Company and the Trustee may rescind an acceleration and its
consequences if the rescission would not conflict with any judgment or decree
and if all existing Events of Default have been cured or waived except
nonpayment of Principal or interest that has become due solely because of the
acceleration.

Section 6.03
Other Remedies.

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

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

Section 6.04
Waiver of Past Defaults.

The Holders of a majority in Principal amount of the
Securities of any Series by notice to the Trustee may waive an existing
Default with respect to that Series and its consequences except:

(1)                                  a
Default in the payment of the Principal of or interest on any Security of such
Series; or

(2)                                  a
Default with respect to a provision that under Section 9.02 cannot be
amended without the consent of each Securityholder of such Series affected.

Section 6.05
Control by Majority.

The Holders of a majority in Principal amount of the
Securities of any Series may direct the time, method and place of
conducting any proceeding for any remedy of any Series available to the
Trustee or exercising any trust or power conferred on the Trustee. However, the
Trustee may refuse to follow any direction that conflicts with law or this
Indenture, is unduly prejudicial to the rights of other Securityholders of such
Series, or would involve the Trustee in personal liability or expense for which
the Trustee has not received a satisfactory indemnity therefor.

Section 6.06
Limitation on Suits.

 A Securityholder of such Series may pursue
a remedy with respect to this Indenture or the Securities with respect to that Series only
if:

(1)                                  the
Holder gives to the Trustee notice of a continuing Event of Default;

(2)                                  the
Holders of at least 25% in Principal amount of the Securities of such Series make
a request to the Trustee to pursue the remedy;

 16
 

 

(3)                                  the
Trustee either (i) gives to such Holders notice it will not comply with
the request, or (ii) does not comply with the request within 30 days after
receipt of the request; and

(4)                                  the
Holders of a majority in Principal amount of the Securities of such Series do
not give the Trustee a direction inconsistent with the request prior to the
earlier of the date, if ever, on which the Trustee delivers a notice under Section 6.06(3)(i) or
the expiration of the period described in Section 6.06(3)(ii).

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

Section 6.07
Rights of Holders To Receive Payment.

Notwithstanding any other provision of this Indenture,
the right of any Holder of a Security of any Series to receive payment of
Principal and interest on the Security of such Series, on or after the respective
due dates expressed in the Security of such Series, or to bring suit for the
enforcement of any such payment on or after such respective dates, shall not be
impaired or affected without the consent of the Holder.

Nothing in this Indenture limits or defers the right
or ability of Holders to petition for commencement of a case under applicable
Bankruptcy Law to the extent consistent with such Bankruptcy Law.

Section 6.08 Priorities.

After an Event of Default of any Series any money
or other property distributable in respect of the Company’s obligations under
this Indenture shall be paid in the following order:

First: to the Trustee (including any predecessor
Trustee) for amounts due under Section 7.07;

Second: to Securityholders for amounts due and unpaid
on the Securities of such Series for Principal and interest, ratably,
without preference or priority of any kind, according to the amounts due and
payable on the Securities of such Series for Principal and interest,
respectively; and

Third: to the Company.

The Trustee may fix a record date and payment date for
any payment to Securityholders of any Series.

Section 6.09
Undertaking for Costs.

In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may

 17
 

 

require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section does not
apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07
or a suit by Holders of more than 10% in Principal amount of the Securities of
any Series.

Section 6.10
Proof of Claim.

In the event of any Proceeding, the Trustee may file a
claim for the unpaid balance of the Securities of any Series in the form
required in the Proceeding and cause the claim to be approved or allowed. Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Securityholder of any Series any
plan of reorganization, arrangement, adjustment, or composition affecting the
Securities of any Series or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Securityholder of
any Series in any Proceeding.

Section 6.11 Actions of a Holder.

For the purpose of providing any consent, waiver or
instruction to the Company or the Trustee, a “Holder” or “Securityholder” of
any Series shall include a Person who provides to the Company or the
Trustee, as the case may be, an affidavit of beneficial ownership of a Security
of such Series together with a satisfactory indemnity against any loss,
liability or expense to such party to the extent that it acts upon such
affidavit of beneficial ownership (including any consent, waiver or
instructions given by a Person providing such affidavit and indemnity).

ARTICLE 7

Trustee

Section 7.01
Duties of Trustee.

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

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

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

(2)                                  In
the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming
to the requirements of this Indenture.

 18
 

 

However, the Trustee
shall examine the certificates and opinions to determine whether or not they
conform to the requirements of this Indenture.

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

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

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

(3)                                  The
Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05.

(4)                                  The
Trustee may refuse to perform any duty or exercise any right or power which
would require it to expend its own funds or risk any liability if it shall
reasonably believe that repayment of such funds or adequate indemnity against
such risk is not reasonably assured to it.

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

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

Section 7.02
Rights of Trustee.

(a)                                  The
Trustee may rely on any document believed by it to be genuine and to have been
signed or presented by the proper Person. The Trustee need not investigate any
fact or matter stated in the document.

(b)                                 Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel. The Trustee shall not be liable for any
action it takes or omits to take in good faith in reliance on the Officers’
Certificate or an Opinion of Counsel. The Trustee may also consult with counsel
on any matter relating to the Indenture or the Securities and the Trustee shall
not be liable for any action it takes or omits to take in good faith in
reliance on the advice of counsel.

 19
 

 

(c)                                  The
Trustee may act through agents and shall not be responsible for the misconduct
or negligence of any agent appointed with due care.

(d)                                 The
Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers.

(e)                                  Except
in connection with compliance with TIA § 310 or § 311, the Trustee shall only
be charged with knowledge of Trust Officers.

Section 7.03 Individual Rights
of Trustee; Disqualification.

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the
Company or an Affiliate with the same rights it would have if it were not
Trustee. Any Agent may do the same with like rights. However, the Trustee is
subject to TIA § 310(b) and § 311.

Section 7.04
Trustee’s Disclaimer.

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

Section 7.05
Notice of Defaults.

If a continuing Default of any Series is known to
the Trustee, the Trustee shall mail to Securityholders of such Series a
notice of the Default within 90 days after it occurs. Except in the case of a
Default in payment on any Security of any Series, the Trustee may withhold the
notice if and so long as a committee of its Trust Officers in good faith
determines that withholding the notice is in the interests of Securityholders
of such Series. The Trustee shall mail to Securityholders of any applicable Series any
notice it receives from Securityholder(s) of such Series under Section 6.06,
and of any notice the Trustee provides pursuant to Section 6.06(3)(1).

Section 7.06
Reports by Trustee to Holders.

If required pursuant to TIA § 313(a), within 60 days
after the reporting date stated in Section 12.09, the Trustee shall mail
to Securityholders of any Series a brief report dated as of such reporting
date that complies with TIA § 313(a). The Trustee also shall comply with TIA §
313(b)(2).

A copy of each report at the time of its mailing to
Securityholders of any Series shall be filed with the SEC and each stock
exchange on which the Securities of such Series are listed.

Section 7.07
Compensation and Indemnity.

The Company shall pay to the Trustee from time to time
reasonable compensation for its services, including for any Agent capacity in
which it acts. The Trustee’s compensation shall not

 20
 

 

be limited by any law on compensation of a trustee of
an express trust. The Company shall reimburse the Trustee upon request for all
reasonable out-of-pocket expenses incurred by it. Such expenses shall include
the reasonable compensation and out-of-pocket expenses of the Trustee’s agents
and counsel.

The Company shall indemnify the Trustee against any
loss, liability or expense incurred by it including in any Agent capacity in
which it acts. The Trustee shall notify the Company promptly of any claim for
which it may seek indemnity. The Company shall defend the claim and the Trustee
shall cooperate in the defense. The Trustee may have separate counsel and the
Company shall pay the reasonable fees and expenses of such counsel. The Company
need not pay for any settlement made without its consent, which consent shall
not unreasonably be withheld.

The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee through
negligence, wilful misconduct or bad faith.

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

Without prejudice to its rights hereunder, when the
Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(4) or (5) occurs, the expenses and the
compensation for the services are intended to constitute expenses of
administration under any Bankruptcy Law.

Section 7.08
Replacement of Trustee.

A resignation or removal of the Trustee with respect
to one or more or all Series and appointment of a successor Trustee shall
become effective only upon the successor Trustee’s acceptance of appointment as
provided in this Section.

The Trustee may resign with respect to one or more or
all Series by so notifying the Company. The Holders of a majority in
Principal amount of the Securities of any Series may remove the Trustee as
to that Series by so notifying the Trustee and the Company. The Company
may remove the Trustee with respect to one or more or all Series if:

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

(2)                                  the
Trustee is adjudged a bankrupt or an insolvent;

(3)                                  a
receiver or public officer takes charge of the Trustee or its property; or

(4)                                  the
Trustee becomes incapable of acting.

If, as to any Series, the Trustee resigns or is
removed or if a vacancy exists in the office of Trustee for any reason, the
Company shall promptly appoint a successor Trustee for that Series.

 21
 

 

If a successor Trustee for such Series is not
appointed and does not take office within 30 days after the retiring Trustee
for such Series resigns, the retiring Trustee for such Series may
appoint a successor Trustee for such Series at any time prior to the date
on which a successor Trustee takes office for such Series. If a successor
Trustee for such Series does not take office within 45 days after the
retiring Trustee for such Series resigns or is removed, the retiring
Trustee for such Series, the Company or, subject to Section 6.09, any
Securityholder of such Series may petition any court of competent
jurisdiction for the appointment of a successor Trustee for such Series.

If, as to any Series, the Trustee fails to comply with
Section 7.10, any Securityholder of such Series may petition any
court of competent jurisdiction for the removal of the Trustee for such Series and
the appointment of a successor Trustee for such Series. Within one year after a
successor Trustee for such Series appointed by the Company or a court
pursuant to this Section 7.08 takes office, the Holders of a majority in
Principal amount of the Securities for such Series may appoint a successor
Trustee for such Series to replace such successor Trustee for such Series.

A successor Trustee as to any Series shall
deliver a written acceptance of its appointment to the retiring Trustee and to
the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers
and duties of the Trustee under this Indenture as to that Series. The successor
Trustee as to any Series shall mail a notice of its succession to
Securityholders of such Series. The retiring Trustee as to any Series shall
promptly transfer all property held by it as Trustee of such Series to the
successor Trustee of such Series, subject to the lien provided for in Section 7.07.

Section 7.09
Successor Trustee by Merger, etc.

If the Trustee for any Series consolidates,
merges or converts into, or transfers all or substantially all of its corporate
trust business to, another corporation, the successor corporation without any
further act shall be the successor Trustee of such Series, if such successor
corporation is eligible and qualified under Section 7.10.

Section 7.10
Eligibility.

Each Series shall always have a Trustee who
satisfies the requirements of TIA § 310(a)(1) and § 310(a)(2). The Trustee
for such Series shall always have a combined capital and surplus as stated
in Section 12.09.

Section 7.11
Preferential Collection of Claims Against Company.

Upon and so long as the Indenture is qualified under
the TIA, the Trustee as to any Series is subject to TIA § 311(a),
excluding any creditor relationship listed in TIA § 311(b). A Trustee as to any
Series who has resigned or been removed is subject to TIA § 311(a) to
the extent indicated.

 

 22

 

ARTICLE 8

Satisfaction and Discharge

Section 8.01
Satisfaction and Discharge of Indenture.

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

(1)                                  either

(A)                              all
Securities theretofore authenticated and delivered (other than

(i)                                     Securities
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 2.07 and

(ii)                                  Securities
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 8.04)

have been delivered to
the Trustee for cancellation; or

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

(i)                                     have
become due and payable, or

(ii)                                  will
become due and payable at their stated maturity within one year, or

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

and the Company in the
case of (i), (ii), and (iii) above, has deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose an amount of
money or U.S. Government Obligations sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for Principal and interest to the date of such deposit (in the
case of Securities which have become due and payable) or to the stated maturity
or redemption date, as the case may be;

 23
 

 

(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 have been complied
with.

Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company to the Holders under Section 4.01,
to the Trustee under Section 7.07, and, if money or U.S. Government
Obligations shall have been deposited with the Trustee pursuant to subclause (B) of
clause (1) of this Section, the obligations of the Trustee under Section 8.02
shall survive.

Section 8.02
Application of Trust Funds.

Subject to the provisions of Section 8.04, the
Trustee or Paying Agent shall hold in trust, for the benefit of the Holders,
all money and U.S. Government Obligations deposited with it (or into which such
money and U.S. Government Obligations are reinvested) pursuant to Section 8.01.
It shall apply such deposited money and money from U.S. Government Obligations
in accordance with this Indenture to the payment of the Principal and interest
on the Securities. Money and U.S. Government Obligations so held in trust are
subject to the Trustee’s rights under Section 7.07.

Section 8.03
Reinstatement.

If the Trustee or Paying Agent is unable to apply any
money or U.S. Obligations in accordance with Section 8.01 by reason of any
order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the Company’s obligations under
this Indenture and the Securities shall be revived and reinstated as though no
deposit had occurred pursuant to this Article 8, until such time as the
Trustee or Paying Agent is permitted to apply all such money or U.S. Government
Obligations in accordance with Section 8.01; provided, however, that if
the Company makes any payment of Principal of or interest on any Security
following the reinstatement of its obligations, the Company shall be subrogated
to the rights of the Holders of such Securities to receive such payment from
the money or U.S. Government Obligations held by the Trustee or Paying Agent
after payment in full to the Holders.

Section 8.04
Repayment to Company.

The Trustee and Paying Agent shall promptly turn over
to the Company upon request any excess money or U.S. Government Obligations
held by them at any time. All money or U.S. Government Obligations deposited
with the Trustee pursuant to Section 8.01 (and held by it or a Paying
Agent) for the payment of Securities subsequently converted shall be  returned to the Company upon request.

The Trustee and the Paying Agent shall pay to the
Company upon request any money held by them for payment of Principal or
interest that remains unclaimed for two years after the right to such money has
matured. After payment to the Company, Securityholders entitled to the

 24
 

 

money shall look to the Company for payment as
unsecured general creditors unless an abandoned property law designates another
Person.

ARTICLE 9

Amendments

Section 9.01
Without Consent of Holders.

The Company and the Trustee as to any Series may
amend this Indenture or the Securities of such Series without the consent
of any Securityholder of such Series:

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

(2)                                  to
comply with Sections 5.01;

(3)                                  to
make any change that does not adversely affect the rights of any
Securityholder; or

(4)                                  to
establish additional Series as permitted by Section 201 hereof.

Section 9.02
With Consent of Holders.

The Company and the Trustee of such Series may
amend this Indenture or the Securities of such Series with the written
consent of the Holders of at least a majority in Principal amount of the
Securities of such Series. However, without the consent of each Securityholder
affected, an amendment under this Section may not:

(1)                                  reduce
the amount of Securities whose Holders must consent to an amendment;

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

(3)                                  reduce
the Principal of or change the fixed maturity of any Security;

(4)                                  reduce
the premium payable upon the redemption of any Security or change the time at
which any Security may or shall be redeemed;

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

(6)                                  make
any change in Section 6.04, 6.07 or 9.02 (second sentence);

(7)                                  make
any change that adversely affects the right to convert any Security; or

(8)                                  make
any change that adversely affects the preference or priority of the Security.

 25
 

 

An amendment or waiver under this Section that
waives, changes or eliminates any covenant or other provision of this Indenture
that has expressly been included solely for the benefit of one or more
particular Series, or that 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 the consent of the
Holders under this Section to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance
thereof.

Section 9.03
Compliance with Trust Indenture Act and Section 12.03.

Every amendment to this Indenture or the Securities
shall comply with the TIA as then in effect, so long as the Indenture and
Securities are subject to the TIA. The Trustee is entitled to, and the Company
shall provide, an Opinion of Counsel and Officers’ Certificate that the Trustee’s
execution of any amendment or supplemental indenture is permitted under this Article 9.

Section 9.04
Revocation and Effect of Consents and Waivers.

A consent to an amendment or a waiver by a Holder of a
Security shall bind the Holder and every subsequent Holder of that Security or
portion of the Security that evidences the same debt as the consenting Holder’s
Security, even if notation of the consent or waiver is not made on the Security.
However, any such Holder or subsequent Holder may revoke the consent or Waiver
as to such Holder’s Security or portion of the Security if the Trustee receives
the notice of revocation before the date the amendment or waiver becomes effective.
After an amendment or waiver becomes effective, it shall bind every
Securityholder of any Series to which the amendment of waiver applies.

The Company may, but shall not be obligated to, fix a
record date for the purpose of determining the Securityholders entitled to give
their consent or take any other action described above or required or permitted
to be taken pursuant to this Indenture. If a record date is fixed, then
notwithstanding the immediately preceding paragraph, those Persons who were
Securityholders at such record date (or their duly designated proxies), and
only those Persons, shall be entitled to give such consent or to revoke any
consent previously given or take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid
or effective for more than 120 days after such record date.

Section 9.05
Notice of Amendment; Notation on or Exchange of Securities.

After any amendment under this Article becomes
effective, the Company shall mail to Securityholders of any Series affected
a notice briefly describing such amendment. The failure to give such notice to
all Securityholders of such Series, or any defect therein, shall not impair or
affect the validity of an amendment under this Article.

The Company or the Trustee may place an appropriate
notation about an amendment or waiver on any Security of any Series affected
thereafter authenticated. The Company may issue

 26
 

 

in exchange for affected Securities of such Series new
Securities of such Series that reflect the amendment or waiver.

Section 9.06
Trustee Protected.

The Trustee need not sign any supplemental indenture
that adversely affects its rights.

ARTICLE 10

Conversion

Section 10.01
To be Supplemented.

If a Series is to be convertible into common
shares or other securities of the Company, then the Company and the Trustee may
enter into a supplemental indenture setting forth the conversion rights of the
Holders of such Series.

ARTICLE 11

Subordination

Section 11.01
To be Supplemented.

If a Series is to be subordinated to other debt
securities of the Company, then the Company and the Trustee may enter into a
supplemental indenture setting forth the provisions governing such
subordination.

ARTICLE 12

Miscellaneous

Section 12.01
Notices.

Any notice by one party to the other shall be in
writing and sent to the other’s address stated in Section 12.09. The
notice is duly given if it is delivered in Person or sent by a national courier
service which provides next Business Day delivery or by first-class mail or,
with the prior consent of the intended recipient, by facsimile, email, or other
form of electronic or physical delivery.

A party by notice to the other party may designate
additional or different addresses for subsequent notices.

Any notice sent to a Securityholder shall be mailed by
first-class letter mailed to its address shown on the register kept by the
Registrar or, with the prior consent of the intended recipient, by facsimile,
email, or other form of electronic or physical delivery. Failure to send a
notice to a Securityholder or any defect in a notice sent to a Securityholder
shall not affect the sufficiency of the notice sent to other Securityholders.

 27
 

 

If a notice is delivered or sent in the manner
provided above within the time prescribed, it is duly given, whether or not the
addressee receives it.

If the Company sends a notice to Securityholders of
any Series, it shall deliver or mail a copy to the Trustee of such Series and
each Agent of such Series at the same time.

A “notice” includes any communication required by this
Indenture.

Section 12.02
Communication by Holders with Other Holders.

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

Section 12.03
Certificate and Opinion as to Conditions Precedent.

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

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

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

Section 12.04
Statements Required in Certificate or Opinion.

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

(1)                                  a
statement that each Person making such certificate or opinion has read such
covenant or condition;

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

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

 

 28

 

Section 12.05
Rules by Trustee and Agents.

The Trustee with respect to any Series may make
reasonable rules for action by or a meeting of Securityholders of such
Series. The Agent with respect to any Series may make reasonable rules and
set reasonable requirements for its functions.

Section 12.06
Legal Holidays.

A “Legal Holiday” is a Saturday, a Sunday or a day on
which banking institutions are not required to be open. If a payment date is a
Legal Holiday at a place of payment, payment may be made at that place on the
next succeeding day that is not a Legal Holiday, and no interest shall accrue
for the intervening period.

Section 12.07
No Recourse Against Others.

A director, officer, employee or stockholder, as such,
of the Company shall not have any liability for any obligations of the Company
under the Securities or the indenture or for any claim based on, in respect of,
or by reason of such obligations or their creation.

Section 12.08
Duplicate Originals.

The parties may sign any number of copies, and may
execute such in counterparts, of this Indenture. One signed copy is enough to
prove this Indenture.

Section 12.09
Variable Provisions.

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

The Company initially appoints the Trustee as
Registrar, Paying Agent and Conversion Agent.

The first certificate pursuant to Section 4.03
shall be for the fiscal year ending on December 31 next following the
first date any Series is outstanding under this Indenture.

The reporting date for Section 7.06 is May 15
of each year. The first reporting date is May 15 next following the first
date any Series is outstanding under this Indenture.

The Trustee shall always have a combined capital and
surplus of at least [$____________] as set forth in its most recent published
annual report of condition. The Trustee will be deemed to be in compliance with
the capital and surplus requirement set forth in the preceding sentence if its
obligations are guaranteed by a Person which could otherwise act as Trustee
hereunder and which meets such capital and surplus requirement and the Trustee
has at least the minimum capital and surplus required by TIA § 310(a)(2).

In determining whether the Trustee has a conflicting
interest as defined in TIA § 310(b)(I), the following is excluded:
[___________________].

 29
 

 

The Company’s address is:

LKQ Corporation

120 North LaSalle Street

Suite 3300

Chicago, Illinois 60602

Facsimile No.:  312-621-1950

Attention:  Chief Financial Officer

The Trustee’s address is:

[Trustee’s Name]

[Address]

Facsimile No.:  [_____________]

Attention:  [_________________]

Section 12.10
Governing Law.

The laws of the State of  New York without regard to principles of
conflicts of law shall govern this Indenture and the Securities.

Dated:                                                                                                    LKQ
Corporation

                                                                                       By:
________________________________

                                                                                              Name:

                                                                                                       Title:

Attest:

_______________________________

Name:

Title:

Dated:                                                                                                    [___________________________],
Trustee

                                                                                       By:
________________________________

                                                                                              Name:

                                                                                                       Title:

Attest:

_______________________________

Name:

Title:

 

 30

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