Document:

efc9-0919_ex1001.htm

 

Exhibit 10.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

`

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

  

  

 

 

 

 

 

 

 

 

	 	 	 
	 	 MERRILL LYNCH	 

 

 

 

 

the Trustee signature block below must be signed and a copy of the trust agreement provided.  If the Agreement is executed on behalf of a limited liability company or a non-US limited company, a copy of the operating agreement or a copy of a resolution authorizing the signature(s) below must be attached.  Persons
signing this Agreement must provide proof of identity.  Additional documentation may be requested in accordance with applicable anti-money laundering policies.

Please indicate your understanding and agreement of these terms by signing below.

ML BlueTrend FuturesAccess LLC

Account Name

 

 

	  	  	  	
May 15, 2008

	 By: 	
  

Stephen Miller
	  	
Date

 

Vice President of Merrill Lynch Alternative Investments

LLC, Manager of ML BlueTrend FuturesAccess LLC

	  	Print Name	  	
Title

	 	 	 	 

 

 

	
By:
	  	  	  
	  	
Authorized Signature
	  	
Date

	
By:
	  	  	  
	  	
Print Name
	  	
Title

 

 

 

 

 

 

 

13Exhibit 4.1

     

    

    

    ____________________________________

    

    

    ABN
AMRO BANK N.V.

    

    as
Issuer,

    

    ABN
AMRO HOLDING N.V.

    

    as
Guarantor,

    

    CITIBANK,
N.A.

    

    as
Securities Administrator,

    

    and

    

    WILMINGTON
TRUST COMPANY

    

    as
Trustee

    

    

    INDENTURE

    

    Dated as
of September 15, 2006

    

    ____________________________________

    

     

      
        

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    CROSS
REFERENCE SHEET1

    

    __________

    

     

    Provisions
of Trust Indenture Act of 1939 and Indenture to be dated as of September 15,
2006, between ABN AMRO BANK N.V., as Issuer, ABN AMRO Holding N.V., as
Guarantor, Citibank N.A., as Securities Administrator and Wilmington Trust
Company, as Trustee:

     

    
      
        	
                Section
      of the Act

              	
                Section
      of Indenture

              
	
                310(a)(1)
      and (2)

              	
                6.09

              
	
                310(a)(3)
      and (4)

              	
                Inapplicable

              
	
                310(b)

              	
                6.08,
      6.10(a) and 6.10(b)

              
	
                310(c)

              	
                Inapplicable

              
	
                312(a)

              	
                4.01
      and 4.02(a)

              
	
                312(b)

              	
                4.02

              
	
                312(c)

              	
                4.02(b)

              
	
                313(a)

              	
                4.03

              
	
                313(b)(1)

              	
                Inapplicable

              
	
                313(b)(2)

              	
                4.03

              
	
                313(c)

              	
                4.03

              
	
                313(d)

              	
                4.03

              
	
                314(a)

              	
                4.03

              
	
                314(b)

              	
                Inapplicable

              
	
                314(c)(1)
      and (2)

              	
                11.05

              
	
                314(c)(3)

              	
                Inapplicable

              
	
                314(d)

              	
                Inapplicable

              
	
                314(e)

              	
                11.05

              
	
                314(f)

              	
                Inapplicable

              
	
                315(a),
      (c) and (d)

              	
                6.01

              
	
                315(b)

              	
                5.11

              
	
                315(e)

              	
                5.12

              
	
                316(a)(1)

              	
                5.09

              
	
                316(a)(2)

              	
                Not
      required

              
	
                316(a)
      (last sentence)

              	
                7.04

              
	
                316(b)

              	
                5.07

              
	
                317(a)

              	
                5.02

              
	
                317(b)

              	
                3.04(a)
      and (b)

              
	
                318(a)

              	
                11.07

              

      

    

    
       

      
        

      

    

    1  This Cross Reference Sheet is not part
of the Indenture.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    TABLE
OF CONTENTS

    ____________________________________

    

    

    PAGE

    

    

    
      	 	
              ARTICLE
      1

            
	 	
              DEFINITIONS

            
	 	 
    	 
    
	Section
      1.01. 	
              Certain Terms
      Defined

            	
              1

            
	 	
              ARTICLE
      2

            
	 	
              SECURITIES

            
	 	 
    	 
    
	Section
      2.01. 	
              Forms
      Generally

            	
              7

            
	Section
      2.02. 	
              Form of Certificate of
      Authentication

            	
              8

            
	Section
      2.03.  	
              Amount Unlimited; Issuable in
      Series

            	
              8

            
	Section
      2.04.   	
              Authentication and Delivery of
      Securities

            	
              10

            
	Section
      2.05. 	
              Execution of
      Securities

            	
              13

            
	Section
      2.06.  	
              Certificate of
      Authentication

            	
              14

            
	Section
      2.07. 	
              Denomination and Date of
      Securities; Payments of Interest

            	
              14

            
	Section
      2.08.	
              Registration, Transfer And
      Exchange

            	
              15

            
	Section
      2.09.  	
              Mutilated, Defaced, Destroyed,
      Lost and Stolen Securities

            	
              17

            
	Section
      2.10.  	
              Cancellation of Securities;
      Disposition Thereof

            	
              18

            
	 	 
    	 
    
	 	
              ARTICLE
      3

            
	 	
              COVENANTS OF THE ISSUER AND THE GUARANTOR

            
	 	 
    	 
    
	Section
      3.01. 	
              Payment of Principal and
      Interest

            	
              19

            
	Section
      3.02.	
              Offices for Payments,
      Etc

            	
              19

            
	Section
      3.03. 	
              Appointment to Fill a Vacancy
      in Office of Trustee

            	
              20

            
	Section
      3.04.  	
              Paying
      Agents

            	
              20

            
	Section
      3.05.   	
              Written Statement to
      Trustee

            	
              21

            
	Section
      3.06. 	
              Luxembourg
      Publications

            	
              21

            
	Section
      3.07. 	
              Payment Of Additional
      Amounts

            	
              22

            
	 	 
    	 
    
	 	
              ARTICLE
      4

            
	 	
              SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

            
	 	 

    

    
      
        	Section
      4.01.	
                Issuer and Guarantor to
      Furnish Trustee Information as to Names and Addresses of
      Securityholders

              	
                24

              
	Section
      4.02. 	
                Preservation and Disclosure of
      Securityholders Lists.

              	
                25

              
	Section
      4.03. 	
                Reports by the Issuer and the
      Guarantor

              	
                25

              
	Section
      4.04.	
                Reports By The
      Trustee

              	
                26

              

      

    

     

    
      
        i

      

      
        
        

        
          

        

      

      
        
        
 

    

    
      	 	
              ARTICLE
      5

            
	 	
              REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON DEFAULT OR EVENT OF DEFAULT

            
	 	 
    	 
    
	Section
      5.01.  	
              Event of Default Defined;
      Acceleration of Maturity; Waiver of Event of
Default

            	
              26

            
	Section
      5.02.  	
              Collection Of Indebtedness By
      Trustee; Trustee May Prove Debt

            	
              28

            
	Section
      5.03.  	
              Application of
      Proceeds

            	
              31

            
	Section
      5.04.  	
              Suits for
      Enforcement

            	
              32

            
	Section
      5.05.  	
              Restoration of Rights on
      Abandonment of Proceedings

            	
              32

            
	Section
      5.06.  	
              Limitations on Suits by
      Securityholders

            	
              32

            
	Section
      5.07.  	
              Unconditional Right of
      Securityholders to Institute Certain Suits

            	
              33

            
	Section
      5.08.  	
              Powers and Remedies
      Cumulative; Delay or Omission Not Waiver of Default

            	
              33

            
	Section
      5.09.  	
              Control by Holders of
      Securities

            	
              33

            
	Section
      5.10.  	
              Waiver of Past
      Defaults

            	
              34

            
	Section
      5.11.  	
              Trustee to Give Notice of
      Default; But May Withhold in Certain Circumstances

            	
              34

            
	Section
      5.12.  	
              Right of Court to Require
      Filing of Undertaking to Pay Costs

            	
              35

            
	 	 
    	 
    
	 	
              ARTICLE
      6

            
	 	
              CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

            

    

    
      
        	 
    	 
    

      

      
        
          	Section
      6.01.  	
                  Duties and Responsibilities of
      the Trustee and the Securities Administrator; During Default;
      Prior to Default

                	
                  35

                
	Section
      6.02.  	
                  Certain Rights of the Trustee
      and the Securities Administrator

                	
                  37

                
	Section
      6.03.  	
                  Trustee and the Securities
      Administrator not Responsible for Recitals, Disposition of
      Securities or Application of Proceeds Thereof 

                	
                  39

                
	Section
      6.04.  	
                  Trustee, Securities
      Administrator and Agents thereof May Hold Securities;Collections,
      etc

                	
                  39

                
	Section
      6.05.  	
                  Monies Held by Trustee or
      Securities Administrator

                	
                  39

                
	Section
      6.06.  	
                  Compensation and
      Indemnification of Trustee and Securities Administrator and
      its

                	 
      
	Section
      6.06.  	
                  Compensation and
      Indemnification of Trustee and Securities Administrator and
      its Prior
      Claim

                	
                  39

                
	Section
      6.07.  	
                  Right of Trustee and
      Securities Administrator to Rely on Officers’ Certificate,
      etc

                	
                  40

                
	Section
      6.08.  	
                  Indentures Not Creating
      Potential Conflicting Interests for the Trustee

                	
                  40

                
	Section
      6.09.  	
                  Persons Eligible for
      Appointment as Trustee

                	
                  41

                
	Section
      6.10.  	
                  Resignation and Removal;
      Appointment of Successor Trustee and Successor Securities
      Administrator

                	
                  41

                
	Section
      6.11.  	
                  Acceptance of Appointment by
      Successor Trustee or Successor Securities
      Administrator

                	
                  42

                
	Section
      6.12.  	
                  Merger, Conversion,
      Consolidation or Succession to Business of Trustee or the Securities
      Administrator

                	
                  44

                
	 	 
      	 
      
	 	
                  ARTICLE
      7

                
	 	
                  CONCERNING  THE
      SECURITYHOLDERS

                
	 	 
      	 
      
	Section
      7.01.  	
                  Evidence of Action Taken by
      Securityholders

                	
                  45

                
	Section
      7.02.  	
                  Proof of Execution of
      Instruments and of Holding of Securities

                	
                  45

                
	Section
      7.03.  	
                  Holders to Be Treated as
      Owners

                	
                  46

                

        

      

    

    
       

    

    
      
        ii

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	Section
      7.04.  	
              Securities Owned by Issuer
      Deemed not Outstanding

            	
              46

            
	Section
      7.05.  	
              Right of Revocation of Action
      Taken

            	
              47

            
	 	 
    	 
    
	 	
              ARTICLE
      8

            
	 	
              SUPPLEMENTAL INDENTURES

            
	 	 
    	 
    
	Section
      8.01.  	
              Supplemental Indentures
      Without Consent of Securityholders

            	
              47

            
	Section
      8.02.  	
              Supplemental Indentures With
      Consent Of Securityholders

            	
              48

            
	Section
      8.03.  	
              Effect of Supplemental
      Indenture

            	
              50

            
	Section
      8.04.  	
              Documents to Be Given to
      Trustee and the Securities Administrator

            	
              50

            
	Section
      8.05.  	
              Notation on Securities in
      Respect of Supplemental Indentures

            	
              51

            
	 	 
    	 
    
	 	
              ARTICLE
      9

            
	 	
              CONSOLIDATION, MERGER, SALE OR CONVEYANCE

            

    

    
      
        	 	 
      	 
      
	 	 
      	 
      
	Section
      9.01.       
      	
                Covenant Not to Merge,
      Consolidate, Sell or Convey Property Except Under Certain
      Conditions

              	
                51

              
	Section
      9.02.	
                Successor Corporation
      Substituted

              	
                51

              
	Section
      9.03	
                Opinion of Counsel Delivered
      to Trustee and the Securities Administrator

              	
                52

              
	 	 
      	 
      
	 	
                ARTICLE
      10

              
	 	
                SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONIES

              
	 	 
      	 
      
	Section
      10.01.	
                Satisfaction and Discharge of
      Indenture

              	
                52

              
	Section
      10.02.	
                Application by Trustee or the
      Securities Administrator of Funds Deposited for Payment of
      Securities

              	
                56

              
	Section
      10.03.	
                Repayment of Monies Held by
      Paying Agent

              	
                57

              
	Section
      10.04.	
                Return of Monies Held by
      Trustee and the Securities Administrator Unclaimed for Two
      Years

              	
                57

              
	Section
      10.05.	
                Indemnity for U.S. Government
      Obligations

              	
                57

              
	 	 
      	 
      
	 	
                ARTICLE
      11

              
	 	
                MISCELLANEOUS PROVISIONS

              
	 	 
      	 
      
	 Section
      11.01.	
                Incorporators, Stockholders,
      Officers and Directors of Issuer and Guarantor Exempt from
      Individual Liability

              	
                57

              
	 Section
      11.02.	
                Provisions of Indenture for
      the Sole Benefit of Parties and Holders of
    Securities

              	
                58

              
	 Section
      11.03.	
                Successors and Assigns of
      Issuer and Guarantor Bound by Indenture

              	
                58

              
	 Section
      11.04.	
                Notices and Demands on Issuer,
      Guarantor, Trustee, the Securities Administrator and Holders
      of Securities

              	
                58

              
	 Section
      11.05.	
                Officers’ Certificates and
      Opinions of Counsel; Statements to Be Contained
      Therein

              	
                59

              
	 Section
      11.06.	
                Payments Due on Saturdays,
      Sundays or Holidays

              	
                60

              
	 Section
      11.07.	
                Conflict of Any Provision of
      Indenture with Trust Indenture Act of 1939

              	
                60

              
	 Section
      11.08.	
                New York Law to
      Govern

              	
                60

              

      

    

    

    
      
        iii

      

      
        
        

        
          

        

      

      
        
        

    

    

    
      	Section
      11.09.	
              Counterparts

            	
              61

            
	Section
      11.10. 	
              Please
      have it proofed by 8pm Sunday.Effect of
    Headings

            	
              61

            
	Section
      11.11.	
              Please
      have it proofed by 8pm Sunday.  Securities in a Non-U.S.
      Currency

            	
              61

            
	Section
      11.12. 	
              Submission to
      Jurisdiction

            	
              61

            
	Section
      11.13. 	
              Judgment
      Currency

            	
              62

            
	Section
      11.14. 	
              Waiver Of Jury
      Trial

            	
              63

            
	 	 
    	 
    
	 	
              ARTICLE
      12

            
	 	
              REDEMPTION OF SECURITIES AND SINKING FUNDS

            
	 	 
    	 
    
	Section
      12.01.   	
              Applicability of
      Article

            	
              63

            
	Section
      12.02.  	
              Notice of Redemption; Partial
      Redemptions

            	
              63

            
	Section
      12.03.   	
              Payment of Securities Called
      for Redemption

            	
              64

            
	Section
      12.04.    	
              Exclusion of Certain
      Securities From Eligibility for Selection for
      Redemption

            	
              65

            
	Section
      12.05. 	
              Mandatory and Optional Sinking
      Funds

            	
              65

            
	Section
      12.06. 	
              Optional Redemption For Tax
      Reasons

            	
              68

            
	 	 
    	 
    
	 	
              ARTICLE
      13

            
	 	
              GUARANTEE AND INDEMNITY

            
	 	 
    	 
    
	Section
      13.01.  	
              The
      Guarantee

            	
              69

            
	Section
      13.02.  	
              Net
      Payments

            	
              69

            
	Section
      13.03.  	
              Guarantee Unconditional,
      Etc

            	
              71

            
	Section
      13.04.	
              Reinstatement

            	
              72

            
	Section
      13.05.    	
              Subrogation

            	
              72

            
	Section
      13.06. 	
              Indemnity

            	
              72

            
	Section
      13.07.	
              Assumption By
      Guarantor

            	
              73

            

    

     

    
      
        iv

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    THIS
INDENTURE, dated as of September 15, 2006 between ABN AMRO BANK N.V., a public
limited liability company incorporated in The Netherlands (the “Issuer”), ABN AMRO HOLDING
N.V., a public limited liability company incorporated in The Netherlands (the
“Guarantor”), Citibank,
N.A., as securities administrator (the “Securities Administrator”) and
Wilmington Trust Company, as trustee (the “Trustee”),

    

    W I T N E
S S E T H:

    

    WHEREAS,
the Issuer has duly authorized the issue from time to time of its unsecured
debentures, notes or other evidences of indebtedness to be issued in one or more
series (the “Securities”) up to such
principal amount or amounts as may from time to time be authorized in accordance
with the terms of this Indenture;

    

    WHEREAS,
the Issuer has duly authorized the execution and delivery of this Indenture to
provide, among other things, for the authentication, delivery and administration
of the Securities;

    

    WHEREAS,
for value received, the Guarantor has duly authorized the execution and delivery
of this Indenture to provide for the issuance of the Guarantee and the indemnity
provided for herein. All things necessary to make this Indenture a valid
agreement of the Guarantor, in accordance with its terms, have been done;
and

    

    WHEREAS,
all things necessary to make this Indenture a valid indenture and agreement
according to its terms have been done;

    

    NOW,
THEREFORE:

    

    In
consideration of the premises and the purchases of the Securities by the holders
thereof, the Issuer, the Guarantor, the Securities Administrator and the Trustee
mutually covenant and agree for the equal and proportionate benefit of the
respective Holders from time to time of the Securities as follows:

    

    

    ARTICLE
1 

    DEFINITIONS

    

    Section
1.01. Certain Terms
Defined. The following terms (except as otherwise expressly provided
herein or in any indenture supplemental hereto or unless the context otherwise
clearly requires) for all purposes of this Indenture and of any indenture
supplemental hereto shall have the respective meanings specified in this
Section. All other terms used in this Indenture that are defined in the Trust
Indenture Act of 1939 or the definitions of which in the Securities
Act

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    of 1933
are referred to in the Trust Indenture Act of 1939, including terms defined
therein by reference to the Securities Act of 1933 (except as herein otherwise
expressly provided or unless the context otherwise clearly requires), shall have
the meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of this Indenture. All accounting terms
used herein and not expressly defined shall have the meanings assigned to such
terms in accordance with generally accepted accounting principles, and the term
“generally accepted accounting
principles” means such accounting principles as are generally accepted at
the time of any computation. The words “herein”, “hereof” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision. The terms defined in this Article have
the meanings assigned to them in this Article and include the plural as well as
the singular.

    

    “Authorized Agent” shall have
the meaning set forth in Section 11.12.

    

    “Authorized Newspaper” means a
newspaper (which, in the case of The City of New York, will be The Wall Street Journal
(Eastern Edition), in the case of the United Kingdom, will be the Financial Times (London
Edition) and, in the case of Luxembourg, will be the Luxemburger Wort or, in each case such other
newspaper of general circulation in such city) published in an official language
of the country of publication customarily published at least once a day for at
least five days in each calendar week and of general circulation in The City of
New York, the United Kingdom or in Luxembourg, as applicable.

    

    “Authorized Signatories” means
any two persons acting together authorized by the Issuer.

    

    “Board” means the Managing
Board of the Issuer or any committee of such Managing Board duly authorized to
act on its behalf.

    

    “Board Resolution” means one or
more resolutions, certified by the secretary of the Board to have been duly
adopted or consented to by the Board and to be in full force and effect, and
delivered to the Trustee and the Securities Administrator.

    

    “Business Day” means, with
respect to any Security, any day that (i) is not a Saturday or Sunday or a day
on which banking institutions in The City of New York are authorized or required
by law or executive order or governmental decree to be closed and (ii) that
meets such additional requirements, if any, as specified pursuant to Section
2.03.

    

    “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
and delivery 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 on such date.

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

      

    “Corporate Trust Office” means
(i) with respect to the Trustee, Wilmington Trust Issuer, 100 North Market
Street, Rodney Square North, Wilmington, Delaware, 19890, Attention: Millipore
and (ii) with respect to the Securities Administrator, (A) for Securities
transfer purposes and for purposes of presentment and surrender of Securities
for the final distributions thereon, Citibank, N.A., 111 Wall Street, 15th
Floor, New York, New York 10005, Attention: 15th Floor Window and (B) for all
other purposes, Citibank, N.A., 388 Greenwich Street, 14th Floor, New York, New
York, 10013, Attention: Millipore; or any other address that the Trustee or the
Securities Administrator may designate with respect to itself from time to time
by notice to the Issuer and the Securityholders.

    

    “covenant defeasance” shall
have the meaning set forth in Section 10.01(c).

    

    “Default” means an event that
with the giving of notice or passage of time or both will constitute an Event of
Default.

    

    “Depositary” means, with
respect to the Securities of any series issuable or issued in the form of one or
more Registered Global Securities, the Person designated as Depositary by the
Issuer pursuant to Section 2.03 until a successor Depositary shall have
become such pursuant to the applicable provisions of this Indenture, and
thereafter “Depositary”
shall mean or include each Person who is then a Depositary hereunder, and if at
any time there is more than one such Person, “Depositary” as used with
respect to the Securities of any such series shall mean the Depositary with
respect to the Registered Global Securities of that series.

    

    “Dollar” means the coin or
currency of the United States of America as at the time of payment is legal
tender for the payment of public and private debts.

    

    “Event of Default” means any
event or condition specified as such in Section 5.01.

    

    “Guarantee” means the
unconditional guarantee of the payment by the Guarantor of the principal of, any
premium or interest on, and any additional amounts with respect to the
Securities.

    

    “Guarantor” means ABN AMRO
Holding N.V. until a successor Person shall have become such pursuant to the
applicable provisions of the Indenture, and thereafter “Guarantor” shall mean
such successor Person.

    

    “Guarantor’s Board of
Directors” means the Managing Board of the Guarantor or any committee of
that board duly authorized to act generally or in any particular respect for the
Guarantor hereunder.

    

    “Guarantor’s Board Resolution”
means a copy of one or more resolutions, certified by the Secretary or an
Assistant Secretary of the Guarantor

    

     

    
      
        
        

      

      
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    to have
been duly adopted by the Guarantor’s Board of Directors and to be in full force
and effect on the date of such certification, delivered to the Trustee and the
Securities Administrator.

    

    “Guarantor’s Officers’
Certificate” means a certificate signed by any two duly authorized
signatories of the Guarantor acting together, that complies with the
requirements of Section 314(e) of the Trust Indenture Act and is delivered to
the Trustee and the Securities Administrator.

    

    “Holder”, “Holder of Securities”, “Securityholder” or other
similar terms mean in the case of any Registered Security, the Person in whose
name such Security is registered in the security register kept by the Issuer for
that purpose in accordance with the terms hereof.

    

    “Indebtedness” shall have the
meaning set forth in Section 5.01.

    

    “Indenture” means this
instrument as originally executed and delivered or, if amended or supplemented
as herein provided, as so amended or supplemented or both, and shall include the
forms and terms of particular series of Securities established as contemplated
hereunder.

    

    “Interest” means, when used
with respect to non-interest bearing Securities, interest payable after
maturity.

    

    “Issuer” means (except as
otherwise provided in Article Six) ABN AMRO Bank N.V., a public limited
liability company incorporated under the laws of The Netherlands and, subject to
Article Nine, its successors and assigns.

    

    “Issuer Order” means a written
statement, request or order of the Issuer signed in its name by any two
Authorized Signatories of the Issuer or any other person authorized by the Board
to execute any such written statement, request or order.

    

    “Judgment Currency” shall have
the meaning set forth in Section 11.13.

    

    “New York Banking Day” shall
have the meaning set forth in Section 11.13.

    

    “Non-U.S. Currency” means a
currency issued by the government of a country other than the United States (or
any currency unit comprised of any such currencies).

    

    “Officers’ Certificate” means a
certificate (i) signed by any two Authorized Signatories of the Issuer or any
other person authorized by the Board to execute any such certificate and (ii)
delivered to the Trustee and the Securities Administrator. Each such certificate
shall comply with Section 314 of the Trust Indenture Act of 1939 and include the
statements provided for in Section 11.05.

    

     

    
      
        
        

      

      
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    “Opinion of Counsel” means an
opinion in writing signed by the Chief Legal Officer of the Issuer in North
America or by such other legal counsel who may be an employee of or counsel to
the Issuer or by a law firm of national standing. Each such opinion shall comply
with Section 314 of the Trust Indenture Act of 1939 and include the statements
provided for in Section 11.05.

    

    “original issue date” of any
Security (or portion thereof) means the earlier of (a) the date of such Security
or (b) the date of any Security (or portion thereof) for which such Security was
issued (directly or indirectly) on registration of transfer, exchange or
substitution.

    

    “Original Issue Discount
Security” means any Security that provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 5.01.

    

    “Outstanding” when used with
reference to Securities, shall, subject to the provisions of Section 7.04, mean,
as of any particular time, all Securities authenticated and delivered by the
Securities Administrator under this Indenture, except

    

    (a)           Securities
theretofore cancelled by the Securities Administrator or delivered to the
Securities Administrator for cancellation;

    

    (b)           Securities,
or portions thereof, for the payment or redemption of which monies or U.S.
Government Obligations (as provided for in Section 10.01) in the necessary
amount shall have been deposited in trust with the Trustee, the Securities
Administrator or with any paying agent (other than the Issuer or the Guarantor)
or shall have been set aside, segregated and held in trust by the Issuer or the
Guarantor for the Holders of such Securities (if the Issuer shall act as its
own, or authorized the Guarantor to act as, paying agent), provided that if such
Securities, or portions thereof, are to be redeemed prior to the maturity
thereof, notice of such redemption shall have been given as herein provided, or
provision satisfactory to the Trustee and the Securities Administrator shall
have been made for giving such notice; and

    

    (c)           Securities
which shall have been paid or in substitution for which other Securities shall
have been authenticated and delivered pursuant to the terms
of Section 2.09 (except with respect to any such Security as to which
proof satisfactory to the Securities Administrator is presented that such
Security is held by a person in whose hands such Security is a legal, valid and
binding obligation of the Issuer).

    

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

    

     

    
      
        
        

      

      
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    payable
as of the date of such determination upon a declaration of acceleration of the
maturity thereof pursuant to Section 5.01.

    

    “Periodic Offering” means an
offering of Securities of a series from time to time, the specific terms of
which Securities, including, without limitation, the rate or rates of interest,
if any, thereon, the stated maturity or maturities thereof and the redemption
provisions, if any, with respect thereto, are to be determined by the Issuer or
its agents upon the issuance of such Securities.

    

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

    

    “principal” whenever used with
reference to the Securities or any Security or any portion thereof, shall be
deemed to include “and premium,
if any”.

    

    “record date” shall have the
meaning set forth in Section 2.07.

    

    “Redemption Notice Period”
shall have the meaning set forth in Section 12.02.

    

    “Registered Global Security”,
means a Security evidencing all or a part of a series of Registered Securities,
issued to the Depositary for such series in accordance with Section 2.04, and
bearing the legend prescribed in Section 2.04.

    

    “Registered Security” means any
Security registered on the Security register of the Issuer.

    

    “Required Currency” shall have
the meaning set forth in Section 11.13.

    

    “Responsible Officer” when used
with respect to the Trustee or the Securities Administrator means any officer
within the corporate trust department of the Trustee or the Securities
Administrator, including any vice president, assistant vice president, assistant
secretary, assistant treasurer, trust officer or any other officer of the
Trustee or the Securities Administrator, as applicable, 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
subject and who shall in each case have direct responsibility for the
administration of this Indenture.

    

    “Security” or “Securities” has the meaning
stated in the first recital of this Indenture, or, as the case may be,
Securities that have been authenticated and delivered under this
Indenture.

    

    “Securities Administrator”
means Citibank, N.A., in its capacity as registrar, paying agent, authentication
agent and conversion agent and, subject to

    

    
      
        
          
          

        

        
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    the
provisions of Article 6, shall also include any successor securities
administrator. “Securities Administrator” shall also mean or include each Person
who is then a securities administrator hereunder and if at any time there is
more than one such Person, “Securities Administrator” as used with respect to
the Securities of any series shall mean the trustee with respect to the
Securities of such series.

    

    “Trust Indenture Act of 1939”
means the Trust Indenture Act of 1939 as amended and in effect from time to
time.

    

    “Trustee” means the Person
identified as “Trustee”
in the first paragraph hereof and, subject to the provisions of Article 6, shall
also include any successor trustee. “Trustee” shall also mean or
include each Person who is then a trustee hereunder and if at any time there is
more than one such Person, “Trustee” as used with respect
to the Securities of any series shall mean the trustee with respect to the
Securities of such series.

    

    “U.S. Government Obligations”
shall have the meaning set forth in Section 10.01(a).

    

    “Yield to Maturity” means the
yield to maturity on a series of Securities, calculated at the time of issuance
of such series, or, if applicable, at the most recent redetermination of
interest on such series, and calculated by the Issuer in accordance with
accepted financial practice. Neither the Trustee nor the Securities
Administrator shall have any obligation to determine the yield to maturity of
any Securities or series.

    

    

    ARTICLE
2 

    SECURITIES

    

    Section
2.01. Forms Generally.
The Securities of each series shall be substantially in such form (not
inconsistent with this Indenture) as shall be established by or pursuant to one
or more Board Resolutions (as set forth in a Board Resolution or, to the extent
established pursuant to rather than set forth in a Board Resolution, an
Officers’ Certificate detailing such establishment) or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this
Indenture and may have imprinted or otherwise reproduced thereon such legend or
legends or endorsements, not inconsistent with the provisions of this Indenture,
as may be required to comply with any law or with any rules or regulations
pursuant thereto, or with any rules of any securities exchange or to conform to
general usage, all as may be determined by the officers executing such
Securities as evidenced by their execution of such Securities.

     

    

    
      
        
        

      

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

    

    Section
2.02. Form of Certificate of
Authentication. The certificate of authentication on all Securities shall
be in substantially the following form:

    

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

    

    

    
      	 	 	 
	 
    	
              not
      in its individual capacity but solely as Authenticating
    Agent

            	 
	 
    	 
    	 
    	 
	 
    	 
    	 
    	 
	 
    	
              By:

            	 
    	 
	 
    	 
    	
              Authorized
      Officer:

            	 
	 
    	 
    	 
    	 

    

    
 

    Section
2.03. 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 and each such series and, unless
provided for otherwise in an indenture supplemental hereto, shall rank equally
and pari passu with all
other unsecured and unsubordinated debt of the Issuer. There shall be
established in or pursuant to one or more Board Resolutions (and to the extent
established pursuant to rather than set forth in a Board Resolution, in an
Officers’ Certificate detailing such establishment) or established in one or
more indentures supplemental hereto, prior to the initial issuance of Securities
of any series,

    

    (a)      the
designation of the Securities of the series, which shall distinguish the
Securities of the series from the Securities of all other series;

    

    (b)      any
limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to 0,
2.09, 8.05 or 12.03);

    

    (c)      if
other than Dollars, the coin or currency in which the Securities of that series
are denominated (including, but not limited to, any Non-U.S.
Currency);

    

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

    

    

    

    
      
        
        

      

      
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    (e)      the
rate or rates at which the Securities of the series shall bear interest, if any,
the date or dates from which such interest shall accrue, on which such interest
shall be payable and on which a record shall be taken for the determination of
Holders to whom interest is payable and/or the method by which such rate or
rates or date or dates shall be determined;

    

    (f)       the
place or places where the principal of and any interest on Securities of the
series shall be payable (if other than as provided in Section
3.02);

    

    (g)      the
right, if any, of the Issuer to redeem Securities, in whole or in part, at its
option and the period or periods within which, the price or prices at which and
any terms and conditions, including the Redemption Notice Period, upon which
Securities of the series may be so redeemed, pursuant to any sinking fund or
otherwise;

    

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

    

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

    

    (j)      if
other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration
of the maturity thereof;

    

    (k)     if
other than the coin or currency in which the Securities of that series are
denominated, the coin or currency in which payment of the principal of or
interest on the Securities of such series shall be payable;

    

    (l)      if
the principal of or interest on the Securities of such series are to be payable,
at the election of the Issuer or a Holder thereof, in a coin or currency other
than that in which the Securities are denominated, the period or periods within
which, and the terms and conditions upon which, such election may be
made;

    

    (m)   
if the amount of payments of principal of and interest on the Securities of the
series may be determined with reference to an index based on a coin or currency
other than that in which the Securities of the series are denominated, or with
reference to any currencies, securities or baskets of securities, commodities or
indices, the manner in which such amounts shall be determined;

    

    
      
        
          
          

        

        
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    if the
Holders of the Securities of the series may convert or exchange the Securities
of the series into or for securities of the Issuer, the Guarantor or of other
entities or other property (or the cash value thereof), the specific terms of
and period during which such conversion or exchange may be made;

    

    
      (n)   
[Reserved];

    

    

    (o)     whether
and under what circumstances the Issuer will pay additional amounts on the
Securities of the series held by a Person who is not a U.S. Person in respect of
any tax, assessment or governmental charge withheld or deducted and, if so,
whether the Issuer will have the option to redeem such Securities rather than
pay such additional amounts;

    

    (p)     if
the Securities of such 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, the form and terms of such certificates, documents or
conditions;

    

    (q)     any
trustees, depositaries, authenticating or paying agents, transfer agents or
registrars or any other agents with respect to the Securities of such
series;

    

    (r)      any
additions, modifications or deletions in the Defaults, Events of Default, other
events of default or covenants of the Issuer set forth herein with respect to
the Securities of such series; and

    

    
      (s)   
any other
terms of the series.

    

    

    All
Securities of any one series shall be substantially identical, except as to
denomination and except as may otherwise be provided by or pursuant to the Board
Resolution or Officers’ Certificate referred to above or as set forth in any
such indenture supplemental hereto. All Securities of any one series need not be
issued at the same time and may be issued from time to time, consistent with the
terms of this Indenture, if so provided by or pursuant to such Board Resolution,
such Officers’ Certificate or in any such indenture supplemental
hereto.

    

    Notwithstanding Section 2.03(b)
hereof and unless otherwise expressly provided with respect to a series of
Securities, the aggregate principal amount of a series of Securities may be
increased and additional securities of such series may be issued up to a maximum
aggregate principal amount authorized with respect to such series as
increased.

    

    Section
2.04. Authentication and
Delivery of Securities. The Issuer may deliver Securities of any series,
executed by the Issuer to the Securities Administrator for authentication
together with the applicable documents referred to below in this Section, and
the Securities Administrator shall thereupon

    

    

    
      
        
        

      

      
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    authenticate
and deliver such Securities to or upon the order of the Issuer (contained in the
Issuer Order referred to below in this Section). The maturity date, original
issue date, interest rate and any other terms of the Securities of such series
(including Redemption Notice Periods) shall be determined by or pursuant to such
Issuer Order. In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, the
Trustee and the Securities Administrator shall be entitled to receive (in the
case of subparagraphs (ii), (iii) and (iv) below only at or before the time of
the first request of the Issuer to the Securities Administrator to authenticate
Securities of such series) and (subject to Section 6.01) shall each be fully
protected in relying upon, unless and until such documents have been superseded
or revoked:

    

    (i)      an
Issuer Order requesting such authentication and setting forth delivery
instructions if the Securities are not to be delivered to the Issuer, provided
that, with respect to Securities of a series subject to a Periodic Offering, (a)
such Issuer Order may be delivered by the Issuer to the Securities Administrator
prior to the delivery to the Securities Administrator of such Securities for
authentication and delivery, (b) the Securities Administrator shall authenticate
and deliver Securities of such series for original issue from time to time, in
an aggregate principal amount not exceeding the aggregate principal amount
established for such series, pursuant to an Issuer Order and (c) the maturity
date or dates, original issue date or dates, interest rate or rates and any
other terms of Securities of such series (including Redemption Notice Periods)
shall be determined by an Issuer Order;

    

    (ii)      any
Board Resolution, Officers’ Certificate and/or executed supplemental indenture
referred to in Sections 2.01 and 2.03 by or pursuant to which the
forms and terms of the Securities were established;

    

    (iii)    
an Officers’ Certificate setting forth the form or forms and terms of the
Securities stating that the form or forms and terms of the Securities have been
established pursuant to Sections 2.01 and 2.03 and comply with this
Indenture, and covering such other matters as the Trustee and the Securities
Administrator may reasonably request; and

    

    (iv)    
at the option of the Issuer, either an Opinion of Counsel, or a letter addressed
to the Trustee and the Securities Administrator permitting each of them to rely
on an Opinion of Counsel, substantially to the effect that:

    

    (A)     the
forms of the Securities have been duly authorized and established in conformity
with the provisions of this Indenture;

    

    (B)      in
the case of an underwritten offering, the terms of the Securities have been duly
authorized and established in

    

    

    

    
      
        
        

      

      
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    conformity
with the provisions of this Indenture, and, in the case of an offering that is
not underwritten, certain terms of the Securities have been established pursuant
to a Board Resolution, an Officers’ Certificate or a supplemental indenture in
accordance with this Indenture, and when such other terms as are to be
established pursuant to procedures set forth in an Issuer Order shall have been
established, all such terms will have been duly authorized by the Issuer and
will have been established in conformity with the provisions of this
Indenture;

    

    (C)      when
the Securities have been executed by the Issuer and authenticated by the
Securities Administrator in accordance with the provisions of this Indenture and
delivered to and duly paid for by the purchasers thereof, they will have been
duly issued under this Indenture and will be valid and binding obligations of
the Issuer, enforceable in accordance with their respective terms, and will be
entitled to the benefits of this Indenture; and

    

    (D)       the
execution and delivery by the Issuer of, and the performance by the Issuer of
its obligations under, the Securities, will not contravene any provision of
applicable law or the certificate of incorporation or by-laws of the Issuer or
any agreement or other instrument binding upon the Issuer or any of its
consolidated subsidiaries that is material to the Issuer and its subsidiaries,
taken as a whole, or, to the best of such counsel’s knowledge, any judgment,
order or decree of any U.S. governmental body, agency or court having
jurisdiction over the Issuer or any of its consolidated subsidiaries, and no
consent, approval or authorization of any U.S. governmental body or agency is
required for the performance by the Issuer of its obligations under the
Securities, except such as are specified and have been obtained and such as may
be required by the securities or blue sky laws of the various states in
connection with the offer and sale of the Securities.

    

    In
rendering such opinions, such counsel may qualify any opinions as to
enforceability by stating that such enforceability may be limited by bankruptcy,
insolvency, reorganization, liquidation, moratorium and other similar laws
affecting the rights and remedies of creditors and is subject to general
principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law). Such counsel may rely, as to all matters
governed by the laws of jurisdictions other than the State of New York and the
federal law of the United States, upon opinions of other counsel (copies of
which shall be delivered to the Trustee and the Securities Administrator), who
shall be counsel reasonably satisfactory to the Trustee and the Securities
Administrator, in which case the opinion shall state that such counsel believes
that it, the Trustee and the Securities

    

     

    
      
        
        

      

      
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    Administrator
are entitled so to rely. Such counsel may also state that, insofar as such
opinion involves factual matters, he has relied, to the extent he deems proper,
upon certificates of officers of the Issuer and its subsidiaries and
certificates of public officials.

    

    The
Securities Administrator shall have the right to decline to authenticate and
deliver any Securities under this Section if the Securities Administrator, being
advised by counsel, determines that such action may not lawfully be taken by the
Issuer or if the Securities Administrator in good faith by its board of
directors or board of trustees, executive committee, or a trust committee of
directors or trustees or Responsible Officers shall determine that such action
would expose the Trustee or the Securities Administrator to personal liability
to existing Holders or would affect the Trustee’s or Securities Administrator’s
rights, duties or immunities under the Securities, this Indenture or
otherwise.

    

    If the
Issuer shall establish pursuant to Section 2.03 that the Securities of a
series are to be issued in the form of one or more Registered Global Securities,
then the Issuer shall execute and the Securities Administrator shall, in
accordance with this Section and the Issuer Order with respect to such series,
authenticate and deliver one or more Registered Global Securities that (i) shall
represent and shall be denominated in an amount equal to the aggregate principal
amount of all of the Securities of such series issued and not yet cancelled,
(ii) shall be registered in the name of the Depositary for such Registered
Global Security or Securities or the nominee of such Depositary, (iii) shall be
delivered or held by the Securities Administrator pursuant to such Depositary’s
instructions and (iv) shall bear a legend substantially to the following effect:
“Unless and until it is exchanged in whole or in part for Securities in
definitive registered form, this Security may not be transferred except as a
whole by the Depositary to the nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary.”

    

    Each
Depositary designated pursuant to Section 2.03 must, at the time of its
designation and at all times while it serves as Depositary, be a clearing agency
registered under the Securities Exchange Act of 1934 and any other applicable
statute or regulation.

    

    Section
2.05. Execution of
Securities. The Securities shall be signed on behalf of the Issuer by any
two Authorized Signatories of the Issuer authorized to execute Securities, which
Securities may, but need not, be attested. Such signatures may be the manual or
facsimile signatures of the present or any future such officers. Minor errors or
defects in any such reproduction of any such signature shall not affect the
validity or enforceability of any Security that has been duly authenticated and
delivered by the Securities Administrator.

    

    In case
any officer of the Issuer who shall have signed any of the Securities, pursuant
to his or her authorization to do so, shall cease to be such

    

    

    

    
      
        
        

      

      
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    officer,
or such authorization shall be withdrawn, before the Security so signed shall be
authenticated and delivered by the Securities Administrator or disposed of by
the Issuer, such Security nevertheless may be authenticated and delivered or
disposed of as though the person who signed such Security had not ceased to be
such officer or the authorization to sign such Security had not been withdrawn;
and any Security may be signed on behalf of the Issuer by any two persons as, at
the actual date of the execution of such Security, shall be authorized by the
Issuer to do so, although at the date of the execution and delivery of this
Indenture any such person was not so authorized.

    

    Section
2.06. Certificate of
Authentication. Only such Securities as shall bear thereon a certificate
of authentication substantially in the form hereinbefore recited, executed by
the Securities Administrator by the manual signature of one of its authorized
officers, shall be entitled to the benefits of this Indenture or be valid or
obligatory for any purpose. The execution of such certificate by the Securities
Administrator upon any Security executed by the Issuer shall be conclusive
evidence that the Security so authenticated has been duly authenticated and
delivered hereunder and that the Holder is entitled to the benefits of this
Indenture.

    

    Section
2.07. Denomination and Date of
Securities; Payments of Interest. The Securities of each series shall be
issuable as Registered Securities in denominations of $1,000 and any integral
multiple thereof. The Securities of each series shall be numbered, lettered or
otherwise distinguished in such manner or in accordance with such plan as the
officers of the Issuer executing the same may determine with the approval of the
Securities Administrator, as evidenced by the execution and authentication
thereof.

    

    Each
Registered Security shall be dated the date of its authentication. The
Securities of each series shall bear interest, if any, from the date, and such
interest shall be payable on the dates, established as contemplated by Section
2.03.

    

    The
Person in whose name any Registered Security of any series is registered at the
close of business on any record date applicable to a particular series with
respect to any interest payment date for such series shall be entitled to
receive the interest, if any, payable on such interest payment date
notwithstanding any transfer or exchange of such Registered Security subsequent
to the record date and prior to such interest payment date, except if and to the
extent the Issuer and the Guarantor shall default in the payment of the interest
due on such interest payment date for such series, in which case such defaulted
interest shall be paid to the Persons in whose names Outstanding Registered
Securities for such series are registered at the close of business on a
subsequent record date (which shall be not less than five Business Days prior to
the date of payment of such defaulted interest) established by notice given by
mail by or on behalf of the Issuer to the Holders of Registered Securities not
less than 15 days preceding such subsequent record date. The term “record date” as used with
respect to any interest payment date (except a date for payment of defaulted
interest) for the Securities of any

    

     

    
      
        
        

      

      
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    series
shall mean the date specified as such in the terms of the Registered Securities
of such series established as contemplated by Section 2.03.

    

    Section
2.08. Registration, Transfer
And Exchange. The Issuer will keep or cause to be kept at each office or
agency to be maintained for the purpose as provided in Section 3.02
for each series of Securities a register or registers in which, subject to such
reasonable regulations as it may prescribe, it will provide for the registration
of Registered Securities of such series and the registration of transfer of
Registered Securities of such series. Such register shall be in written form in
the English language or in any other form capable of being converted into such
form within a reasonable time. At all reasonable times such register or
registers shall be open for inspection by the Trustee and the Securities
Administrator.

    

    Upon due
presentation for registration of transfer of any Registered Security of any
series at any such office or agency to be maintained for the purpose as provided
in Section 3.02, the Issuer shall execute and the Securities Administrator shall
authenticate and deliver in the name of the transferee or transferees a new
Registered Security or Registered Securities of the same series, maturity date,
interest rate and original issue date in authorized denominations for a like
aggregate principal amount.

    

    At the
option of the Holder thereof, Registered Securities of any series (other than a
Registered Global Security, except as set forth below) may be exchanged for a
Registered Security or Registered Securities of such series having authorized
denominations and an equal aggregate principal amount, upon surrender of such
Registered Securities to be exchanged at the agency of the Issuer that shall be
maintained for such purpose in accordance with Section 3.02 and upon
payment, if the Issuer shall so require, of the charges hereinafter provided.
Whenever any Securities are so surrendered for exchange, the Issuer shall
execute, and the Securities Administrator shall authenticate and deliver, the
Securities which the Holder making the exchange is entitled to receive. All
Securities surrendered upon any exchange or transfer provided for in this
Indenture shall be promptly cancelled and disposed of by the Securities
Administrator and the Securities Administrator, upon request, will deliver a
certificate of disposition thereof to the Issuer.

    

    All
Registered Securities presented for registration of transfer, exchange,
redemption or payment shall be duly endorsed by, or be accompanied by a written
instrument or instruments of transfer in form satisfactory to the Issuer and the
Trustee duly executed by, the Holder or his attorney duly authorized in writing
with a medallion guaranty.

    

    The
Issuer and the Securities Administrator may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
with any exchange or registration of transfer of Securities. No service charge
shall be made for any such transaction.

    

    

    
      
        
        

      

      
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    Neither
the Issuer nor the Securities Administrator shall be required to exchange or
register a transfer of (a) any Securities of any series for a period of 15 days
next preceding the first mailing of notice of redemption of Securities of such
series to be redeemed or (b) any Securities selected, called or being called for
redemption, in whole or in part, except, in the case of any Security to be
redeemed in part, the portion thereof not so to be redeemed or (c) any
Securities if the Holder thereof has exercised any right to require the Issuer
to repurchase such Securities, in whole or in part, except, in the case of any
Security to be repurchased in part, the portion thereof not so to be
repurchased.

    

    Notwithstanding
any other provision of this 0, unless and until it is exchanged in whole or in
part for Securities in definitive registered form, a Registered Global Security
representing all or a portion of the Securities of a series may not be
transferred except as a whole by the Depositary for such series to a nominee of
such Depositary or by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by such Depositary or any such nominee to a
successor Depositary for such series or a nominee of such successor
Depositary.

    

    If at any
time the Depositary for any Registered Securities of a series represented by one
or more Registered Global Securities notifies the Issuer that it is unwilling or
unable to continue as Depositary for such Registered Securities or if at any
time the Depositary for such Registered Securities shall no longer be eligible
under Section 2.04, the Issuer shall appoint a successor Depositary eligible
under Section 2.04 with respect to such Registered Securities. If a successor
Depositary eligible under Section 2.04 for such Registered Securities is not
appointed by the Issuer within 90 days after the Issuer receives such notice or
becomes aware of such ineligibility, the Issuer’s election pursuant to Section
2.03 that such Registered Securities be represented by one or more Registered
Global Securities shall no longer be effective and the Issuer will execute, and
the Securities Administrator, upon receipt of an Officers’ Certificate for the
authentication and delivery of definitive Securities of such series, will
authenticate and deliver, Securities of such series in definitive registered
form without coupons, in any authorized denominations, in an aggregate principal
amount equal to the principal amount of the Registered Global Security or
Securities representing such Registered Securities in exchange for such
Registered Global Security or Securities.

    

    The
Issuer may at any time and in its sole discretion determine that the Registered
Securities of any series issued in the form of one or more Registered Global
Securities shall no longer be represented by a Registered Global Security or
Securities. In such event the Issuer will execute, and the Securities
Administrator, upon receipt of an Officers’ Certificate for the authentication
and delivery of definitive Securities of such series, will authenticate and
deliver, Securities of such series in definitive registered form without
coupons, in any authorized denominations, in an aggregate principal amount equal
to the principal amount of the Registered Global Security or Securities
representing such

    

     

    
      
        
        

      

      
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    Registered
Securities, in exchange for such Registered Global Security or
Securities.

    

    If
specified by the Issuer pursuant to Section 2.03 with respect to Securities
represented by a Registered Global Security, the Depositary for such Registered
Global Security may surrender such Registered Global Security in exchange in
whole or in part for Securities of the same series in definitive registered form
on such terms as are acceptable to the Issuer and such Depositary. Thereupon,
the Issuer shall execute, and the Securities Administrator shall authenticate
and deliver, without service charge,

    

    (i)      to
the Person specified by such Depositary a new Registered Security or Securities
of the same series, of any authorized denominations as requested by such Person,
in an aggregate principal amount equal to and in exchange for such Person’s
beneficial interest in the Registered Global Security; and

    

    (ii)      to
such Depositary a new Registered Global Security in a denomination equal to the
difference, if any, between the principal amount of the surrendered Registered
Global Security and the aggregate principal amount of Registered Securities
authenticated and delivered pursuant to clause (i) above.

    

    Upon the
exchange of a Registered Global Security for Securities in definitive registered
form without coupons, in authorized denominations, such Registered Global
Security shall be cancelled by the Securities Administrator or an agent of the
Issuer or the Securities Administrator. Securities in definitive registered form
without coupons issued in exchange for a Registered Global Security pursuant to
this Section 2.08 shall be registered in such nominee names and in such
authorized denominations as the Depositary for such Registered Global Security,
pursuant to instructions from its direct or indirect participants or otherwise,
shall instruct the Securities Administrator or an agent of the Issuer or the
Securities Administrator. The Securities Administrator or such agent shall
deliver such Securities to or as directed by the Persons in whose names such
Securities are so registered.

    

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

    

    Section
2.09. Mutilated, Defaced,
Destroyed, Lost and Stolen Securities. In case any temporary or
definitive Security shall become mutilated, defaced or be destroyed, lost or
stolen, the Issuer in its discretion may execute, and upon the written request
of any officer of the Issuer, the Securities Administrator shall authenticate
and deliver a new Security of the same series, maturity date, interest rate and
original issue date, bearing a number or other distinguishing symbol
not

    

    

     

    
      
        
        

      

      
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    contemporaneously
outstanding, in exchange and substitution for the mutilated or defaced Security.
In every case the applicant for a substitute Security shall furnish to the
Issuer, the Guarantor, the Securities Administrator and to the Trustee and any
agent of the Issuer, the Guarantor, the Securities Administrator or the Trustee
such security or indemnity as may be required by them to indemnify and defend
and to save each of them harmless and, in every case of destruction, loss or
theft, evidence to their satisfaction of the destruction, loss or theft of such
Security and of the ownership thereof and in the case of mutilation or
defacement shall surrender the Security to the Securities Administrator or such
agent.

    

    Upon the
issuance of any substitute Security, the Issuer 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, the Securities Administrator or their agents) connected therewith. In
case any Security which has matured or is about to mature or has been called for
redemption in full shall become mutilated or defaced or be destroyed, lost or
stolen, the Issuer may instead of issuing a substitute Security, pay or
authorize the payment of the same (without surrender thereof except in the case
of a mutilated or defaced Security) if the applicant for such payment shall
furnish to the Issuer, the Guarantor, the Securities Administrator and to the
Trustee and any agent of the Issuer, the Guarantor, the Securities Administrator
or the Trustee such security or indemnity as any of them may require to save
each of them harmless, and, in every case of destruction, loss or theft, the
applicant shall also furnish to the Issuer, the Guarantor, the Securities
Administrator and the Trustee and any agent of the Issuer, the Guarantor, the
Securities Administrator or the Trustee evidence to their satisfaction of the
destruction, loss or theft of such Security and of the ownership
thereof.

    

    Every
substitute Security of any series issued pursuant to the provisions of this
Section by virtue of the fact that any such Security is destroyed, lost or
stolen shall constitute an additional contractual obligation of the Issuer and
the Guarantor, whether or not the destroyed, lost or stolen Security shall be at
any time enforceable by anyone and shall be entitled to all the benefits of (but
shall be subject to all the limitations of rights set forth in) this Indenture
equally and proportionately with any and all other Securities of such series
duly authenticated and delivered hereunder. All Securities shall be held and
owned upon the express condition that, to the extent permitted by law, the
foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, defaced or destroyed, lost or stolen Securities and shall preclude
any and all other rights or remedies notwithstanding any law or statute existing
or hereafter enacted to the contrary with respect to the replacement or payment
of negotiable instruments or other securities without their
surrender.

    

    Section
2.10. Cancellation of
Securities; Disposition Thereof. All Securities surrendered for payment,
redemption, registration of transfer or exchange, or for credit against any
payment in respect of a sinking or analogous fund, if surrendered to the Issuer
or any agent of the Issuer or the Trustee or any

    

     

    
      
        
        

      

      
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    agent of
the Trustee, shall be delivered to the Securities Administrator or its agent for
cancellation or, if surrendered to the Securities Administrator, shall be
cancelled by it; and no Securities shall be issued in lieu thereof except as
expressly permitted by any of the provisions of this Indenture. The Securities
Administrator or its agent shall dispose of cancelled Securities by it and
deliver a certificate of disposition to the Issuer, if requested by the Issuer.
If the Issuer, the Guarantor or an agent of either of them shall acquire any of
the Securities, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Securities Administrator or its agent for
cancellation.

    

    

    ARTICLE
3 

    COVENANTS OF THE ISSUER AND THE GUARANTOR

    

    Section
3.01. Payment of Principal and
Interest. The Issuer covenants and agrees for the benefit of each series
of Securities that it will duly and punctually pay or cause to be paid the
principal of, and interest on, each of the Securities of such series (together
with any additional amounts payable pursuant to the terms of such Securities) at
the place or places, at the respective times and in the manner provided in such
Securities in this Indenture. The interest on Registered Securities (together
with any additional amounts payable pursuant to the terms of such Securities)
shall be payable only to or upon the written order of the Holders thereof and,
at the option of the Issuer, may be paid by wire transfer or by mailing checks
for such interest payable to or upon the written order of such Holders at their
last addresses as they appear on the registry books of the Issuer.

    

    Section
3.02. Offices for Payments,
Etc. So long as any Registered Securities are authorized for issuance
pursuant to this Indenture or are outstanding hereunder, the Issuer and the
Guarantor will maintain in the Borough of Manhattan, The City of New York, an
office or agency where the Registered Securities of each series may be presented
for payment, where the Securities of each series may be presented for exchange
as is provided in this Indenture and, if applicable, pursuant to
Section 2.03 and where the Registered Securities of each series may be
presented for registration of transfer as in this Indenture
provided.

    

    The
Issuer and the Guarantor will maintain in the Borough of Manhattan, The City of
New York, an office or agency where notices and demands to or upon the Issuer in
respect of the Securities of any series or this Indenture may be
served.

    

    The
Issuer and the Guarantor will give to the Trustee and the Securities
Administrator written notice of the location of each such office or agency and
of any change of location thereof. In case the Issuer and the Guarantor shall
fail to maintain any agency required by this Section be located in the Borough
of Manhattan, The City of New York, or shall fail to give such notice of the
location or of any change in the location of any of the above agencies,
presentations and

    

    

    
      
        
        

      

      
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    surrenders
may be made at the applicable Corporate Trust Office of the Securities
Administrator.

    

    The
Issuer hereby designates the applicable Corporate Trust Office of the Securities
Administrator as an agency of the Issuer in accordance with this
Section 3.02 and appoints the Securities Administrator as the Security
Registrar with responsibility for maintaining the security register on behalf of
the Issuer hereunder.

    

    The
Issuer and the Guarantor may from time to time designate one or more additional
offices or agencies where the Securities of a series may be presented for
payment, where the Securities of that series may be presented for exchange as
provided in this Indenture and pursuant to Section 2.03 and where the
Registered Securities of that series may be presented for registration of
transfer as in this Indenture provided, and the Issuer and the Guarantor may
from time to time rescind any such designation, as the Issuer and the Guarantor
may deem desirable or expedient; provided, however, that no such
designation or rescission shall in any manner relieve the Issuer and the
Guarantor of its obligation to maintain the agencies provided for in this
Section. The Issuer and the Guarantor will give to the Trustee and the
Securities Administrator prompt written notice of any such designation or
rescission thereof.

    

    Section
3.03. Appointment to Fill a
Vacancy in Office of Trustee. The Issuer or the Guarantor, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in
the manner provided in Section 6.10, a Trustee, so that there shall at all
times be a Trustee with respect to each series of Securities
hereunder.

    

    Section
3.04. Paying Agents.
The Issuer hereby appoints the Securities Administrator as paying agent.
Whenever the Issuer or the Guarantor shall appoint a paying agent other than the
Securities Administrator with respect to the Securities of any series, it will
cause such paying agent to execute and deliver to the Trustee and Securities
Administrator an instrument in which such agent shall agree with the Trustee and
Securities Administrator, subject to the provisions of this
Section,

    

    (a)      that
it will hold all sums received by it as such agent for the payment of the
principal of or interest on the Securities of such series (whether such sums
have been paid to it by the Issuer or the Guarantor or by any other obligor on
the Securities of such series) in trust for the benefit of the Holders of the
Securities of such series, or of the Trustee,

    

    (b)      that
it will give the Trustee and the Securities Administrator notice of any failure
by the Issuer (or by the Guarantor or any other obligor on the Securities of
such series) to make any payment of the principal of or interest on the
Securities of such series when the same shall be due and payable,
and

     

    

    
      
        
        

      

      
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    (c)      that
it will pay any such sums so held in trust by it to the Trustee upon the
Trustee’s written request at any time during the continuance of the failure
referred to in clause (b) above.

    

    The
Issuer or the Guarantor will, on or prior to each due date of the principal of
or interest on the Securities of such series, deposit with the Securities
Administrator a sum sufficient to pay such principal or interest so becoming
due, and the Issuer or the Guarantor will promptly notify the Trustee and the
Securities Administrator of any failure to take such action.

    

    If the
Issuer shall act as its own paying agent, or if the Guarantor shall act as
paying agent, with respect to the Securities of any series, it will, on or
before each due date of the principal of or interest on the Securities of such
series, set aside, segregate and hold in trust for the benefit of the Holders of
the Securities of such series a sum sufficient to pay such principal or interest
so becoming due. The Issuer or the Guarantor will promptly notify the Trustee
and the Securities Administrator of any failure to take such
action.

    

    Anything
in this Section to the contrary notwithstanding, but subject to
Section 10.01 the Issuer or the Guarantor may at any time, for the purpose
of obtaining a satisfaction and discharge with respect to one or more or all
series of Securities hereunder, or for any other reason, pay or cause to be paid
to the Securities Administrator all sums held in trust for any such series by
the Issuer, the Guarantor or any paying agent hereunder, as required by this
Section, such sums to be held by the Securities Administrator upon the trusts
herein contained.

    

    Anything
in this Section to the contrary notwithstanding, the agreement to hold sums in
trust as provided in this Section is subject to the provisions of
Sections 10.03 and 10.04.

    

    Section
3.05. Written Statement to
Trustee. The Issuer will furnish to the Trustee on or before March 31 in
each year (beginning with March 31, 2007) a brief certificate (which need not
comply with Section 11.05) from the principal executive, financial or
accounting officer of the Issuer stating that in the course of the performance
by the signer of his duties as an officer of the Issuer he would normally have
knowledge of any default or non-compliance by the Issuer in the performance of
any covenants or conditions contained in this Indenture, stating whether or not
he has knowledge of any such default or non-compliance and, if so, specifying
each such default or non-compliance of which the signer has knowledge and the
nature thereof.

    

    Section
3.06. Luxembourg
Publications. In the event of the publication of any notice pursuant to
Section 5.11, the party making such publication in the Borough of
Manhattan, The City of New York and London shall also, to the extent that notice
is required to be given to Holders of Securities of any series by applicable
Luxembourg law or stock exchange regulation, as evidenced by an

    

    

    

    
      
        
        

      

      
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    Officers’
Certificate delivered to such party, make a similar publication in
Luxembourg.

    

    Section
3.07. Payment Of Additional
Amounts. Except to the extent otherwise specified with respect to a
particular series of Securities, all payments of principal of and premium, if
any, interest and any other amounts on, or in respect of, the Securities of any
series shall be made by the Issuer without withholding or deduction at source
for, or on account of, any present or future taxes, fees, duties, assessments or
governmental charges of whatever nature imposed or levied by or on behalf of The
Netherlands, or the jurisdiction of residence or incorporation of any successor
to the Issuer, or any political subdivision or taxing authority thereof or
therein (the “Taxing
Jurisdiction”), unless such taxes, fees, duties, assessments or
governmental charges are required to be withheld or deducted by (i) the laws (or
any regulations or ruling promulgated thereunder) of a Taxing Jurisdiction or
(ii) an official position regarding the application, administration,
interpretation or enforcement of any such laws, regulations or rulings
(including, without limitation, a holding by a court of competent jurisdiction
or by a taxing authority in a Taxing Jurisdiction). If a withholding or
deduction at source is required, the Issuer shall, subject to certain
limitations and exceptions set forth below, pay to the Holder of any such
Security such additional amounts as may be necessary so that every net payment
of principal, premium, if any, interest or any other amount made to such Holder,
after such withholding or deduction, shall not be less than the amount provided
for in such Security, and this Indenture to be then due and payable; provided,
however, that the Issuer shall not be required to make payment of such
additional amounts for or on account of:

    

    (a)      any
such tax, assessment or other governmental charge that would not have been so
imposed but for (i) the existence of any present or former connection between
such Holder (or between a fiduciary, settlor, beneficiary, member or
shareholder, if such Holder is an estate, a trust, a partnership or a
corporation) and The Netherlands and its possessions or any other Taxing
Jurisdiction, including, without limitation, such Holder (or such fiduciary,
settlor, beneficiary, member or shareholder) being or having been a citizen or
resident thereof, being or having been engaged in a trade or business or present
therein or having, or having had, a permanent establishment therein or (ii) the
presentation, where presentation is required, by the Holder of a Security for
payment on a date more than 30 days after the date on which such payment became
due and payable or the date on which payment thereof is duly provided for,
whichever occurs later;

    

    (b)      any
capital gain, estate, inheritance, gift, sale, transfer, personal property or
similar tax, assessment or other governmental charge;

    

    (c)      any
tax assessment or other governmental charge that is payable otherwise than by
withholding from payments on or with respect to the Securities;

    

     

    
      
        
        

      

      
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    (d)     any
tax assessment or other governmental charge that is imposed on a payment to an
individual and that is required to be made pursuant to European Council
Directive 2003/48/EC or any other directive implementing the conclusions of the
ECOFIN council meeting of November 26 – 27, 2000 on the taxation of savings
income, or any law implementing or complying with, or introduced in order to
conform to, such directives;

    

    (e)      any
tax assessment or other governmental charge required to be withheld by any
paying agent from any payment of principal or other amounts payable, or interest
on the Securities, to the extent that such payment can be made without such
withholding by presentation of the Securities to any other paying
agent;

    

    (f)      any
tax, assessment or other governmental charge that is imposed or withheld by
reason of the failure by the Holder or the beneficial owner of such Security to
comply with any reasonable request by the Issuer addressed to the Holder or, if
different, the direct nominee of a beneficiary of the payment, within 90 days of
such request (A) to provide information or certification concerning the
nationality, residence or identity of the Holder or such beneficial owner or (B)
to make any declaration or other similar claim or satisfy any information or
reporting requirement, which, in the case of (A) or (B), is required or imposed
by statute, treaty, regulation or administrative practice of the relevant Taxing
Jurisdiction as a precondition to exemption from all or part of such tax,
assessment or other governmental charge; or

    

    
      (g)  
any
combination of items (a), (b), (c), (d), (e) and (f);

    

    

    nor shall
additional amounts be paid with respect to any payment of the principal of, or
premium, if any, interest or any other amounts on, any such Security to any
Holder who is a fiduciary, a partnership or any other Person, other than the
sole beneficial owner of such Security to the extent such payment would be
required by the laws of the relevant Taxing Jurisdiction to be included in the
income for tax purposes of a beneficiary or partner or settlor with respect to
such fiduciary or a member of such partnership or a beneficial owner who would
not have been entitled to such additional amounts had it been the Holder of the
Security.

    

    Whenever
in this Indenture there is mentioned, in any context, the payment of the
principal of or any premium, interest or any other amounts on, or in respect of,
any Security of any series 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 provision hereof shall not be construed as excluding
the

    

     

    
      
        
        

      

      
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    payment
of additional amounts in those provisions hereof where such express mention is
not made.

    

    Except as
otherwise provided in or pursuant to this Indenture or the Securities of the
applicable series, at least 10 days prior to the first interest payment date
with respect to a series of Securities (or if the Securities of such series
shall not bear interest prior to Maturity, the first day on which a payment of
principal is made), and at least 10 days prior to each date of payment of
principal or interest if there has been any change with respect to the matters
set forth in the below-mentioned Officers’ Certificate, the Issuer shall furnish
to the Trustee, the Securities Administrator and the principal paying agent, if
other than the Securities Administrator, an Officers’ Certificate instructing
the Trustee, the Securities Administrator and such paying agent whether such
payment of principal of and premium, if any, interest or any other amounts on
the Securities of such series shall be made to Holders of Securities of such
series without withholding for or on account of any tax, fee, duty, assessment
or other governmental charge described in this Section 3.07. If any such
withholding shall be required, then such Officers’ Certificate shall specify by
Taxing Jurisdiction the amount, if any, required to be withheld on such payments
to such Holders of Securities, and the Issuer agrees to pay to the Trustee, the
Securities Administrator or such paying agent the additional amounts required by
this Section 3.07. The Issuer covenants to indemnify the Trustee, the
Securities Administrator 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 3.07.

    

    

    ARTICLE
4 

    SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

    

    Section
4.01. Issuer and Guarantor to
Furnish Trustee Information as to Names and Addresses of Securityholders. Each of
the Issuer and the Guarantor covenants and agrees that it will furnish or cause to be furnished
to the Trustee and the Securities Administrator a list in such form as the
Trustee may reasonably require of the names and addresses of the Holders of the
Registered Securities of such series pursuant to Section 312 of the Trust
Indenture Act of 1939:

    

    (a)       
not more than 15 days after each record date for the payment of interest on such
Registered Securities, as herein above specified, as of such record date and on
dates to be determined pursuant to Section 2.03 for non-interest
bearing Registered Securities in each year, and

    

    

    
      
        
        

      

      
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    (b)        at such
other times as the Trustee or the Securities Administrator may request in
writing, within 30 days after receipt by the Issuer of any such request as of a
date not more than 15 days prior to the time such information is
furnished,

     

    provided
that if and so long as the Securities Administrator shall be the Security
registrar for such series and all of the Securities of any series are Registered
Securities, such list shall not be required to be furnished by the Issuer and
the Trustee may, instead, request such list from the Securities
Administrator.

     

    Section 4.02.  Preservation
and Disclosure of Securityholders Lists.

     

    (a)        The
Securities Administrator shall preserve, in as current a form as is reasonably
practicable, all information as to the names and addresses of the holders of
each series of  Securities contained in the most recent list furnished
to it as provided in Section 4.01.  The Trustee
and the Securities Administrator, as applicable, may destroy any list furnished
to it as provided in Section 4.01 upon receipt of a
new list so furnished.

     

    (b)        The
rights of Holders to communicate with other Holders with respect to the
Indenture or the Securities are as provided by the Trust Indenture Act of
1939.

     

    (c)        None
of the Issuer, the Guarantor or the Trustee will be held accountable by reason
of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act of 1939.

     

    Section
4.03.  Reports
by the Issuer and the Guarantor.  Each of the Issuer and the
Guarantor covenants to file with the Trustee, within 15 days after the Issuer or
the Guarantor, as the case may be, has filed the same with the Commission,
copies of the annual reports and of the information, documents, and other
reports that the Issuer or the Guarantor may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934 or pursuant to Section 314 of the Trust Indenture Act of 1939; provided,
however,
that failure by the Issuer or the Guarantor to comply with this provision or, to
the extent automatically deemed to be included in this Indenture, Section 314(a)
of the Trust Indenture Act of 1939, shall not constitute a Default or an Event
of Default and any enforcement procedures relating to failure to comply with
this provision or, to the extent automatically deemed to be included in this
Indenture, Section 314(a) of the Trust Indenture Act of 1939, may only be
brought by the Trustee.  Except as otherwise provided herein, the
Trustee and the Securities Administrator may conclusively assume that there is
no Default or Event of Default.  Delivery of reports, information and
documents to the Trustee or the Securities Administrator is for informational
purposes only and the receipt by the Trustee or the Securities Administrator of
the foregoing shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including
the Issuer’s compliance with any of its covenants hereunder (as to which each of
the Trustee and the Securities Administrator is entitled to rely on Officer’s
Certificates).

     

     

    
      
        
        

      

      
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    Section
4.04.  Reports
By The Trustee.  Any Trustee’s report required under Section
313(a) of the Trust Indenture Act of 1939 shall be transmitted on or before
January 15 in each year beginning January 15, 2007, as provided in Section
313(c) of the Trust Indenture Act of 1939, so long as any Securities are
Outstanding hereunder, and shall be dated as of a date convenient to the Trustee
no more than 60 days prior thereto.

     

     

    ARTICLE
5

    Remedies
of the Trustee and Securityholders on Default or Event of Default

     

    Section 5.01.  Event
of Default Defined; Acceleration of Maturity; Waiver of Event of
Default.  Unless otherwise established in accordance with
Section
2.03 or
by any applicable supplemental indenture, “Event
of Default” with respect to Securities of any series wherever used
herein, means each one of the following events which shall have occurred and be
continuing (whatever the reason for such Event of Default and whether it shall
be voluntary or involuntary or be 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):

     

    (a)        default
for more than 30 days in the payment of interest, premium or principal in
respect of the Securities; or

     

    (b)        the
failure to perform or observe any other obligations, other than obligations
under Section
4.03 or
any other provision for which this Indenture expressly states that the failure
to comply with such provision shall not constitute an Event of Default, under
the Securities which failure continues for the period of 60 days next following
service on the Issuer and the Guarantor of notice requiring the same to be
remedied; or

     

    (c)        the
Issuer or the Guarantor is declared bankrupt, or a declaration in respect of the
Issuer is made under Chapter X of the Act on the Supervision of the Credit
System (Wet
toezicht kredietwezen 1992) of the Netherlands;

     

    (d)        an
order is made or an effective resolution is passed for the winding up or
liquidation of the Issuer or the Guarantor otherwise than in compliance with
Section
9.01;
or

     

    (e)        any
other Event of Default provided in the supplemental indenture or Issuer Order
under which such series of Securities is issued;

     

    Unless otherwise set forth
in any applicable supplemental indenture, if an Event of Default described in
clauses (a), (b) or (e) above (if the Event
of Default under clauses (b) or (e) is with respect to
less than all series of Securities then Outstanding) occurs and is continuing,
then, and in each and every such case, except for any series the principal of
which shall have already become due and

     

     

    
      
        
        

      

      
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    payable, either the
Trustee or the Holders of not less than 25% in aggregate principal amount of the
Securities of all series affected thereby then Outstanding hereunder (treated as
one class), by notice in writing to the Issuer (and to the Trustee if given by
Securityholders), may declare the entire principal (or, if the Securities of any
such affected series are Original Issue Discount Securities, such portion of the
principal amount as may be specified in the terms of such series) of all
Securities of such affected series and the interest accrued thereon, if any, to
be due and payable immediately, and upon any such declaration the same shall
become immediately due and payable.  Unless otherwise set forth in any
applicable supplemental indenture, if an Event of Default described in clauses
(b), (e) (if the Event of
Default under clauses (b) or (e) is with respect to
all series of Securities at the time Outstanding), (c) or (d) occurs and is
continuing, then and in each and every such case, unless the principal of all
the Securities shall have already become due and payable, either the Trustee or
the Holders of not less than 25% in aggregate principal amount of all the
Securities then Outstanding hereunder (treated as one class) for which any
applicable supplemental indenture does not prevent acceleration under the
relevant circumstances, by notice in writing to the Issuer (and to the Trustee
if given by Securityholders), may declare the entire principal (or, if any
Securities are Original Issue Discount Securities, such portion of the principal
as may be specified in the terms thereof) of all the Securities then Outstanding
and interest accrued thereon, if any, to be due and payable immediately, and
upon any such declaration the same shall become immediately due and
payable.

     

    The
foregoing provisions, however, are subject to the condition that if, at any time
after the principal (or, if the Securities are Original Issue Discount
Securities, such portion of the principal as may be specified in the terms
thereof) of the Securities of any series (or of all the Securities, as the case
may be) shall have been so declared due and payable, and before any judgment or
decree for the payment of the monies due shall have been obtained or entered as
hereinafter provided, the Issuer or the Guarantor shall pay or shall deposit
with the Trustee a sum sufficient to pay all matured installments of interest
upon all the Securities of such series (or of all the Securities, as the case
may be) and the principal of any and all Securities of each such series (or of
all the Securities, as the case may be) which shall have become due otherwise
than by acceleration (with interest upon such principal and, to the extent that
payment of such interest is enforceable under applicable law, on overdue
installments of interest, at the same rate as the rate of interest or Yield to
Maturity (in the case of Original Issue Discount Securities)
specified  in the Securities of each such series (or at the respective
rates of interest or Yields to Maturity of all the Securities, as the case may
be) to the date of such payment or deposit) and such amount as shall be
sufficient to cover the compensation to the Trustee and the Securities
Administrator, reasonable fees and disbursements of their respective agents,
attorneys and counsel, and all other expenses and liabilities incurred, by the
Trustee and the Securities Administrator except as a result of negligence or bad
faith, and if any and all Events of Default under the Indenture, other than the
non-payment of the principal of Securities

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

     

    which
shall have become due by acceleration, shall have been cured, waived or
otherwise remedied as provided herein, then and in every such case the Holders
of a majority in aggregate principal amount of all the Securities of each such
series (or of all the Securities, as the case may be) then Outstanding (in each
case treated as one class), by written notice to the Issuer, the Guarantor and
to the Trustee, may waive all defaults with respect to each such series (or with
respect to all the Securities, as the case may be) and rescind and annul such
declaration and its consequences, but no such waiver or rescission and annulment
shall extend to or shall affect any subsequent default or shall impair any right
consequent thereon.

     

    For all
purposes under this Indenture, if a portion of the principal of any Original
Issue Discount Securities shall have been accelerated and declared due and
payable pursuant to the provisions hereof, then, from and after such
declaration, unless such declaration has been rescinded and annulled, the
principal amount of such Original Issue Discount Securities shall be deemed, for
all purposes hereunder, to be such portion of the principal thereof as shall be
due and payable as a result of such acceleration, and payment of such portion of
the principal thereof as shall be due and payable as a result of such
acceleration, together with interest, if any, thereon and all other amounts
owing thereunder, shall constitute payment in full of such Original Issue
Discount Securities.

     

    Section
5.02.  Collection
Of Indebtedness By Trustee; Trustee May Prove Debt.  Each of
the Issuer and the Guarantor covenants that (a) in case default shall be made in
the payment of any installment of interest on any of the Securities of any
series when such interest shall have become due and payable, and such default
shall have continued for a period of 30 days or (b) in case default shall be
made in the payment of all or any part of the principal of any of the Securities
of any series when the same shall have become due and payable, and such default
shall have continued for a period of 30 days, whether upon maturity of the
Securities of such series or upon any redemption or by declaration or otherwise
C
then upon demand of the Trustee, the Issuer or the Guarantor, as the case may
be, will pay to the Trustee for the benefit of the Holders of the Securities of
such series the whole amount that then shall have become due and payable on all
Securities of such series, for principal or interest, as the case may be (with
interest to the date of such payment upon the overdue principal and, to the
extent that payment of such interest is enforceable under applicable law, on
overdue installments of interest at the same rate as the rate of interest or
Yield to Maturity (in the case of Original Issue Discount Securities) specified
in the Securities of such series); and in addition thereto, such further amount
as shall be sufficient to cover the costs and expenses of collection, including
compensation to the Trustee and the Securities Administrator and each
predecessor Trustee and Securities Administrator, reasonable fees and
disbursements of  their respective agents, attorneys and counsel, and
any expenses and liabilities incurred by the Trustee and the Securities
Administrator and each predecessor Trustee and Securities Administrator except
as a result of its negligence or bad faith.

     

     

    
      
        
        

      

      
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    Until
such demand is made by the Trustee, the Issuer or the Guarantor, as the case may
be, may pay the principal of and interest on the Securities of any series to the
registered holders, whether or not the Securities of such series be
overdue.

     

    In case
the Issuer or the Guarantor shall fail forthwith to pay such amounts upon such
demand, the Trustee, in its own name and as trustee of an express trust, shall
be entitled and empowered to institute any action or proceedings at law or in
equity for the collection of the sums so due and unpaid, and may prosecute any
such action or proceedings to judgment or final decree, and may enforce any such
judgment or final decree against the Issuer or the Guarantor or other obligor
upon the Securities and collect in the manner provided by law out of the
property of the Issuer or the Guarantor or other obligor upon the Securities,
wherever situated, the monies adjudged or decreed to be payable.

     

    In case
there shall be pending proceedings relative to the Issuer or the Guarantor or
any other obligor upon the Securities under Title 11 of the United States Code
or any other applicable Federal or state bankruptcy, insolvency or other similar
law, or in case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or
taken possession of the Issuer or the Guarantor or such other obligor or the
property of any of them, or in case of any other comparable judicial proceedings
relative to the Issuer or the Guarantor or other obligor upon the Securities, or
to the creditors or property of the Issuer or the Guarantor or such other
obligor, the Trustee, irrespective of whether the principal of the Securities
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
pursuant to the provisions of this Section, shall be entitled and empowered, by
intervention in such proceedings or otherwise:

     

    (i)                 to
file and prove a claim or claims for the whole amount of principal and interest
(or, if the Securities of any series are Original Issue Discount Securities,
such portion of the principal amount as may be specified in the terms of such
series) owing and unpaid in respect of the Securities of any series, 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 compensation to the Trustee
and the Securities Administrator and each predecessor Trustee and the Securities
Administrator, and their respective agents, attorneys and counsel, and for
reimbursement of all expenses and liabilities incurred, by the Trustee and the
Securities Administrator and each predecessor Trustee and the Securities
Administrator, except as a result of negligence or bad faith) and of the
Securityholders allowed in any judicial proceedings relative to the Issuer, the
Guarantor or other obligor upon the Securities, or to the creditors or property
of the Issuer or the Guarantor or such other obligor,

     

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    (ii)                
unless
prohibited by applicable law and regulations, to vote on behalf of the holders
of the Securities of any series in any election of a trustee or a standby
trustee in arrangement, reorganization, liquidation or other bankruptcy or
insolvency proceedings or Person performing similar functions in comparable
proceedings, and

     

    (iii)                 to
collect and receive any monies or other property payable or deliverable on any
such claims, and to distribute all amounts received with respect to the claims
of the Securityholders and of the Trustee and the Securities Administrator on
their behalf; and any trustee, receiver, or liquidator, custodian or other
similar official is hereby authorized by each of the Securityholders to make
payments to the Trustee and the Securities Administrator, and, in the event that
the Trustee shall consent to the making of payments directly to the
Securityholders, to pay to the Trustee and the Securities Administrator such
amounts as shall be sufficient to cover reasonable compensation to the Trustee
and the Securities Administrator, each predecessor Trustee and the Securities
Administrator and reasonable fees and disbursements of their respective agents,
attorneys and counsel, and all other expenses and liabilities incurred, and all
advances made, by the Trustee and the Securities Administrator and each
predecessor Trustee and the Securities Administrator except as a result of
negligence or bad faith.

     

    Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or vote for or accept or adopt on behalf of any Securityholder 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 in any such
proceeding except, as aforesaid, to vote for the election of a trustee in
bankruptcy or similar Person.

     

    All
rights of action and of asserting claims under this Indenture, or under any of
the Securities of any series, may be enforced by the Trustee without the
possession of any of the Securities of such series or the production thereof on
any trial or other proceedings relative thereto, and any such action or
proceedings instituted by the Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment, subject to the
payment of the expenses, disbursements and compensation of the Trustee, each
predecessor Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Holders of the Securities in respect of which such action
was taken.

     

    In any
proceedings brought by the Trustee (and also any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be
a party) the Trustee shall be held to represent all the Holders of the
Securities in respect to which such action was taken, and it shall not be
necessary to make any Holders of such Securities parties to any such
proceedings.

     

     

    
      
        
        

      

      
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    Section
5.03.  Application
of Proceeds.  Any monies collected by the Trustee pursuant to
this Article in respect of any series shall be applied in the following order at
the date or dates fixed by the Trustee and, in case of the distribution of such
monies on account of principal or interest, upon presentation of the several
Securities in respect of which monies have been collected and stamping (or
otherwise noting) thereon the payment, or issuing Securities of such series in
reduced principal amounts in exchange for the presented Securities of like
series if only partially paid, or upon surrender thereof if fully
paid:

     

    
      	
              FIRST:

            	
              To the payment of
      costs, expenses and all other amounts due under Section
      6.06 applicable to
      such series in respect of which monies have been collected, including
      compensation to the Trustee and the Securities Administrator and each
      predecessor Trustee and the Securities Administrator and reasonable fees
      and disbursements of their respective agents and attorneys and of all
      expenses and liabilities incurred, by the Trustee and the Securities
      Administrator and each predecessor Trustee and the Securities
      Administrator except as a result of negligence or bad
      faith;

            
	 	 
	
              SECOND:

            	
              In
      case the principal of the Securities of such series in respect of which
      monies have been collected shall not have become and be then due and
      payable, to the payment of interest on the Securities of such series in
      default in the order of the maturity of the installments of such interest,
      with interest (to the extent that such interest has been collected by the
      Trustee) upon the overdue installments of interest at the same rate as the
      rate of interest or Yield to Maturity (in the case of Original Issue
      Discount Securities) specified in such Securities, such payments to be
      made ratably to the Persons entitled thereto, without discrimination or
      preference;

            
	 	 
	
              THIRD:

            	
              In
      case the principal of the Securities of such series in respect of which
      monies have been collected shall have become and shall be then due and
      payable, to the payment of the whole amount then owing and unpaid upon all
      the Securities of such series for principal and interest, with interest
      upon the overdue principal, and (to the extent that such interest has been
      collected by the Trustee) upon overdue installments of interest at the
      same rate as the rate of interest or Yield to Maturity (in the case of
      Original Issue Discount Securities) specified in the Securities of such
      series; and in case such monies shall be insufficient to pay in full the
      whole amount so due and unpaid upon the Securities of such series, then to
      the payment of such

            

    
      
        
        

      

      
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              principal
      and interest or Yield to Maturity, without preference or priority of
      principal over interest or Yield to Maturity, or of interest or Yield to
      Maturity over principal, or of any installment of interest over any other
      installment of interest, or of any Security of such series over any other
      Security of such series, ratably to the aggregate of such principal and
      accrued and unpaid interest or Yield to Maturity; and

            
	 	 
	
              FOURTH:

            	
              To
      the payment of the remainder, if any, to the Issuer or any other Person
      lawfully entitled thereto.

            

    

     

    Section
5.04.  Suits
for Enforcement.  In case an Event of Default has occurred, has
not been waived and is continuing, the Trustee may in its discretion proceed to
protect and enforce the rights vested in it by this Indenture by such
appropriate judicial proceedings as the Trustee shall deem most effectual to
protect and enforce any of such rights, either at law or in equity or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant or
agreement contained in this Indenture or in aid of the exercise of any power
granted in this Indenture or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law.

     

    Section
5.05.  Restoration
of Rights on Abandonment of Proceedings.  In case the Trustee
shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned for any reason, or shall
have been determined adversely to the Trustee, then and in every such case the
Issuer, the Guarantor, the Securities Administrator and the Trustee shall be
restored respectively to their former positions and rights hereunder, and all
rights, remedies and powers of the Issuer, the Guarantor, the Trustee, the
Securities Administrator and the Securityholders shall continue as though no
such proceedings had been taken.

     

    Section
5.06.  Limitations
on Suits by Securityholders.  No Holder of any Security of any
series shall have any right by virtue or by availing of any provision of this
Indenture to institute any action or proceeding at law or in equity or in
bankruptcy or otherwise upon or under or with respect to this Indenture, or for
the appointment of a trustee, receiver, liquidator, custodian or other similar
official or for any other remedy hereunder, unless such Holder previously shall
have given to the Trustee written notice of default and of the continuance
thereof, as hereinbefore provided, and unless also the Holders of not less than
25% in aggregate principal amount of the Securities of each affected series then
Outstanding (treated as a single class) shall have made written request upon the
Trustee to institute such action or proceedings in its own name as trustee
hereunder and shall have offered to the Trustee such indemnity as it may require
against the costs, expenses and liabilities to be incurred therein or thereby
and the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity shall have failed to institute any such action or proceeding and no
direction

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

     

    inconsistent with such
written request shall have been given to the Trustee pursuant to Section 5.09; it being understood and
intended, and being expressly covenanted by the Holder of every Security with
every other Holder and the Trustee, that no one or more Holders of Securities of
any series shall have any right in any manner whatever by virtue or by availing
of any provision of this Indenture to affect, disturb or prejudice the rights of
any other such Holder of Securities, or to obtain or seek to obtain priority
over or preference to any other such Holder or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all Holders of Securities of the applicable
series.  For the protection and enforcement of the provisions of this
Section, each and every Securityholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.

     

    Section
5.07.  Unconditional
Right of Securityholders to Institute Certain
Suits.  Notwithstanding any other provision in this Indenture
and any provision of any Security, the right of any Holder of any Security to
receive payment of the principal of and interest on such Security on or after
the respective due dates expressed in such Security, or to institute suit for
the enforcement of any such payment on or after such respective dates, shall not
be impaired or affected without the consent of such Holder.

     

    Section 5.08.  Powers
and Remedies Cumulative; Delay or Omission Not Waiver of
Default.  Except as provided in Section 5.06, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders of Securities
is intended to be exclusive of any other right or remedy, and every right and
remedy shall, to the extent permitted by law, 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.

     

    No delay or omission of
the Trustee or of any Holder of Securities to exercise any right or power
accruing upon any Event of Default occurring and continuing as aforesaid shall
impair any such right or power or shall be construed to be a waiver of any such
Event of Default or an acquiescence therein; and, subject to Section 5.06, every power and remedy
given by this Indenture or by law to the Trustee or to the Holders of Securities
may be exercised from time to time, and as often as shall be deemed expedient,
by the Trustee or by the Holders of Securities.

     

    Section
5.09.  Control
by Holders of Securities.  The Holders of a majority in
aggregate principal amount of the Securities of each series affected (with all
such series voting as a single class) at the time Outstanding 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 by this Indenture;
provided that such direction shall not be otherwise than in accordance with law
and the provisions of

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

     

    this Indenture and provided
further that (subject to the provisions of Section 6.01) the Trustee shall have
the right to decline to follow any such direction if the Trustee, being advised
by counsel, shall determine that the action or proceeding so directed may not
lawfully be taken or if the Trustee in good faith by its board of directors, the
executive committee, or a trust committee of directors or Responsible Officers
of the Trustee shall determine that the action or proceedings so directed would
involve the Trustee in personal liability or if the Trustee in good faith shall
so determine that the actions or forbearances specified in or pursuant to such
direction would be unduly prejudicial to the interests of Holders of the
Securities of all series so affected not joining in the giving of said
direction, it being understood that (subject to Section 6.01) the Trustee shall have
no duty to ascertain whether or not such actions or forbearances are unduly
prejudicial to such Holders.

     

    Nothing
in this Indenture shall impair the right of the Trustee in its discretion to
take any action deemed proper by the Trustee and which is not inconsistent with
such direction or directions by Securityholders.

     

    Section 5.10.  Waiver
of Past Defaults.  Prior to the acceleration of the maturity of
any Securities as provided in Section 5.01, the Holders of a
majority in aggregate principal amount of the Securities of all series at the
time Outstanding with respect to which an Event of Default shall have occurred
and be continuing (voting as a single class) may on behalf of the Holders of all
such Securities waive any past default or Event of Default described in
Section
5.01 and
its consequences, except a default in respect of a covenant or provision hereof
which cannot be modified or amended without the consent of the Holder of each
Security affected.  In the case of any such waiver, the Issuer, the
Guarantor, the Trustee, the Securities Administrator and the Holders of all such
Securities shall be restored to their former positions and rights hereunder,
respectively; but no such waiver shall extend to any subsequent or other default
or impair any right consequent thereon.

     

    Upon any
such waiver, such default shall cease to exist and be deemed to have been cured
and not to have occurred, and any Event of Default arising therefrom shall be
deemed to have been cured, and not to have occurred for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other default or
Event of Default or impair any right consequent thereon.

     

    Section
5.11.  Trustee
to Give Notice of Default; But May Withhold in Certain
Circumstances.  The Trustee shall, within ninety days after the
occurrence of a Default with respect to the Securities of any series of which a
Responsible Officer of the Trustee has actual knowledge, by mailing notice to
the Holders of then Outstanding Registered Securities of each series affected at
their addresses as they shall appear on the registry books, unless in each case
such Default shall have been cured before the mailing or publication of such
notice; provided
that, except in the case of a Default in the payment of the principal of or
interest on any of the Securities of such series, or in the payment of any
sinking

     

    
      
        
        

      

      
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    fund
installment on 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 or trustees and/or Responsible Officers of the
Trustee in good faith determines that the withholding of such notice is in the
interests of the Securityholders of such series.

     

    Section 5.12.  Right
of Court to Require Filing of Undertaking to Pay Costs.  All
parties to this Indenture agree, and each Holder of any Security by his
acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, 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, suffered
or omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; but the provisions of this
Section shall not apply to any suit instituted by the Trustee, to any suit
instituted by any Securityholder or group of Securityholders of any series
holding in the aggregate more than 10% in aggregate principal amount of the
Securities of such series, or, in the case of any suit relating to or arising
under clause 5.01(b) or 5.01(e) (if the suit relates
to Securities of more than one but less than all series), 10% in aggregate
principal amount of Securities then Outstanding and affected thereby, or in the
case of any suit relating to or arising under clause 5.01(b) or 5.01(e) (if the suit under
clause 5.01(b) or 5.01(e) relates to all the
Securities then Outstanding), 5.01(c) or 5.01(d), 10% in aggregate
principal amount of all Securities then Outstanding, or to any suit instituted
by any Securityholder for the enforcement of the payment of the principal of or
interest on any Security on or after the due date expressed in such Security or
any date fixed for redemption.

     

     

    ARTICLE
6

    Concerning
the Trustee and the Securities Administrator

     

    Section
6.01.  Duties
and Responsibilities of the Trustee and the Securities Administrator; During
Default; Prior to Default.  With respect to the Holders of any
series of Securities issued hereunder, the Trustee, prior to the occurrence of
an Event of Default of which a Responsible Officer of the Trustee shall have
actual knowledge with respect to the Securities of a particular series and after
the curing or waiving of all Events of Default which may have occurred with
respect to such series, and the Securities Administrator at all times undertakes
to perform such duties and only such duties as are specifically set forth in
this Indenture.  In case an Event of Default of which a Responsible
Officer of the Trustee shall have actual knowledge with respect to the
Securities of a series has occurred (which has not been cured or waived) the
Trustee shall exercise with respect to such series of Securities 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

     

    
      
        
        

      

      
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    would
exercise or use under the circumstances in the conduct of his or her own
affairs.

     

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

     

    (a)        with
regard to the Trustee, prior to the occurrence of an Event of Default with
respect to the Securities of any series and after the curing or waiving of all
such Events of Default with respect to such series which may have occurred and
with regard to the Securities Administrator, at any time:

     

    (i)                 the
duties and obligations of the Trustee or the Securities Administrator as
applicable with respect to the Securities of any series shall be determined
solely by the express provisions of this Indenture, and neither the Trustee nor
the Securities Administrator shall be liable except for the performance of such
duties and obligations as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the
Trustee or the Securities Administrator as applicable; and

     

    (ii)                 in
the absence of bad faith on the part of the Trustee or the Securities
Administrator as applicable, the Trustee or the Securities Administrator as
applicable may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon any statements, certificates
or opinions furnished to the Trustee or the Securities Administrator as
applicable and conforming to the requirements of this Indenture; but in the case
of any such statements, certificates or opinions which by any provision hereof
are specifically required to be furnished to the Trustee or the Securities
Administrator as applicable, the Trustee or the Securities Administrator as
applicable shall be under a duty to examine the same to determine whether or not
they conform to the requirements of this Indenture;

     

    (b)        neither
the Trustee nor the Securities Administrator shall be liable for any error of
judgment made in good faith by a Responsible Officer or Responsible Officers of
the Trustee or the Securities Administrator as applicable, unless it shall be
proved that the Trustee or the Securities Administrator as applicable was
negligent in ascertaining the pertinent facts; and

     

    (c)        the
Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders
pursuant to Section 5.09 relating to the
time, method and place of conducting any proceeding for any remedy available to
the Trustee, or exercising any trust or power conferred upon the Trustee, under
this Indenture.

     

    
      
        
        

      

      
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    None of
the provisions contained in this Indenture shall require the Trustee or the
Securities Administrator to expend or risk its own funds or otherwise incur
personal financial liability in the performance of any of its duties or in the
exercise of any of its rights or powers, if there shall be reasonable ground for
believing that the repayment of such funds or adequate indemnity against such
liability is not reasonably assured to it.

     

    Section 6.02.  Certain
Rights of the Trustee and
the Securities Administrator. Subject to Section 6.01:

     

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

     

    (b)        any
request, direction, order or demand of the Issuer or the Guarantor mentioned
herein shall be sufficiently evidenced by an Officers’ Certificate or a
Guarantor’s Officers’ Certificate, as the case may be (unless other evidence in
respect thereof be herein specifically prescribed); and any resolution of the
Board or of the Guarantor’s Board of Directors may be evidenced to the Trustee
or the Securities Administrator by a copy thereof certified by the secretary or
an assistant secretary of the Issuer or Guarantor, as the case may
be;

     

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

     

    (d)        neither
the Trustee nor the Securities Administrator shall be under any obligation to
exercise any of the trusts or powers vested in it by this Indenture at the
request, order or direction of any of the Securityholders pursuant to the
provisions of this Indenture, unless such Securityholders shall have offered to
the Trustee or the Securities Administrator reasonable security or indemnity
against the costs, expenses and liabilities which might be incurred therein or
thereby;

     

    (e)        neither
the Trustee nor the Securities Administrator shall be liable for any action
taken omitted or suffered by it in good faith and believed by it to be
authorized or within the discretion, rights or powers conferred upon it by this
Indenture;

     

    (f)        prior
to the occurrence of an Event of Default hereunder and after the curing or
waiving of all Events of Default, the Trustee, and the Securities Administrator,
at all times, shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument,
opinion,

     

    
      
        
        

      

      
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    report,
notice, request, consent, order, approval, appraisal, bond, debenture, note,
coupon, security, or other paper or document unless requested in writing so to
do by the Holders of not less than a majority in aggregate principal amount of
the Securities of all series affected then Outstanding; provided
that, if the payment within a reasonable time to the Trustee or the Securities
Administrator, as applicable of the costs, expenses or liabilities likely to be
incurred by it in the making of such investigation is, in the opinion of the
Trustee or the Securities Administrator, as applicable, not reasonably assured
to the Trustee or the Securities Administrator, as applicable by the security
afforded to it by the terms of this Indenture, the Trustee or the Securities
Administrator, as applicable may require reasonable indemnity against such
expenses or liabilities as a condition to proceeding; the reasonable expenses of
every such investigation shall be paid by the Issuer or the
Guarantor;

     

    (g)        the
Trustee and the Securities Administrator may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through
agents or attorneys not regularly in its employ and neither the Trustee nor the
Securities Administrator shall be responsible for any misconduct or negligence
on the part of any such agent or attorney appointed with due care by it
hereunder;

     

    (h)        neither
the Trustee nor the Securities Administrator shall be required to take notice or
be deemed to have notice or knowledge of any default, Event of Default or event
described in Section 14.03(a) or Section 14.03(b) unless a Responsible Officer
of the Trustee or the Securities Administrator, as applicable, shall have
received written notice or obtained actual knowledge thereof. In the absence of
receipt of such notice or actual knowledge, the Trustee or the Securities
Administrator, as applicable may conclusively assume that there is no default or
Event of Default;

     

    (i)        Neither
the Trustee nor the Securities Administrator shall have any duty (A) to see to
any recording, filing, or depositing of this Indenture or any agreement referred
to herein or any financing statement or continuation statement evidencing a
security interest, or to see to the maintenance of any such recording or filing
or depositing or to any rerecording, refiling or redepositing of any thereof or
(B) to see to any insurance;

     

    (j)        the
rights of the Trustee and the Securities Administrator to perform any
discretionary act enumerated in this Indenture shall not be construed as a duty,
and neither the Trustee nor the Securities Administrator shall be answerable for
other than its negligence or willful misconduct in the performance of such act;
and

     

    (k)        neither
the Trustee not the Securities Administrator shall be required to give any bond
or surety in respect of the execution of the powers granted
hereunder.

     

    
      
        
        

      

      
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    Section
6.03.  Trustee
and the Securities Administrator not Responsible for Recitals, Disposition of
Securities or Application of Proceeds Thereof.  The recitals
contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Issuer, and neither the
Trustee nor the Securities Administrator assumes any responsibility for the
correctness of the same.  Neither the Trustee nor the Securities
Administrator makes any representation as to the validity or sufficiency of this
Indenture or of the Securities.  Neither the Trustee nor the
Securities Administrator shall be accountable for the use or application by the
Issuer of any of the Securities or of the proceeds thereof.

     

    Section
6.04.  Trustee,
Securities Administrator and Agents thereof May Hold Securities; Collections,
etc.  The Trustee, Securities Administrator or any agent of the
Issuer, the Guarantor, the Trustee or the Securities Administrator, in its
individual or any other capacity, may become the owner or pledgee of Securities
with the same rights it would have if it were not the Trustee, Securities
Administrator or such agent and may otherwise deal with the Issuer or the
Guarantor and receive, collect, hold and retain collections from the Issuer or
the Guarantor with the same rights it would have if it were not the Trustee, the
Securities Administrator or such agent.

     

    Section 6.05.  Monies
Held by Trustee or Securities Administrator.  Subject to the
provisions of Section 10.04 hereof, all monies
received by the Trustee or Securities Administrator shall, until used or applied
as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other funds except to the extent
required by mandatory provisions of law.  Neither the Trustee, the
Securities Administrator nor any agent of the Issuer, the Trustee or the
Securities Administrator shall be under any liability for interest on any monies
received by it hereunder.

     

    Section
6.06.  Compensation
and Indemnification of Trustee and Securities Administrator and its Prior
Claim.  Each of the Issuer and the Guarantor covenants and
agrees to pay (without duplication) to the Trustee and the Securities
Administrator, as applicable from time to time, and the Trustee and the
Securities Administrator, as applicable shall be entitled to, reasonable
compensation as agreed between the applicable parties (which shall not be
limited by any provision of law in regard to the compensation of a trustee of an
express trust) and each of the Issuer and the Guarantor covenants and agrees to
pay or reimburse the Trustee and the Securities Administrator, as applicable and
each predecessor Trustee and predecessor Securities Administrator upon its
request for all reasonable expenses, disbursements and advances incurred or made
by or on behalf of it in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the reasonable expenses and
disbursements of its counsel and of all agents and other Persons not regularly
in its employ) except any such expense, disbursement or advance as may arise
from its negligence or bad faith. The Issuer and the Guarantor each also
covenants to indemnify the Trustee and the Securities Administrator, as
applicable each predecessor Trustee and predecessor Securities Administrator
for, and to hold it harmless against, any loss, liability or expense incurred
without negligence or bad faith on its part, arising out of or in connection
with the acceptance or administration of this Indenture or the trusts hereunder
and its duties hereunder, including the costs and expenses of defending itself
against or investigating any claim of liability in the premises. The obligations
of the Issuer and the Guarantor under this Section to compensate and indemnify
the Trustee and the Securities Administrator each predecessor Trustee and
predecessor Securities Administrator and to pay or reimburse the Trustee and the
Securities Administrator each predecessor Trustee

     

    
      
        
        

      

      
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    and
predecessor Securities Administrator for expenses, disbursements and advances
shall constitute additional indebtedness hereunder and shall survive the
resignation and removal of the Trustee or the Securities Administrator, as
applicable the satisfaction and discharge of this Indenture. Such additional
indebtedness shall be a senior claim to that of the Securities upon all property
and funds held or collected by the Trustee or the Securities Administrator as
such, except funds held in trust for the benefit of the Holders of particular
Securities, and the Securities are hereby subordinated to such senior
claim.

     

    Upon the
written request of the Issuer or the Guarantor, the Trustee and the Securities
Administrator each agrees to provide to the Issuer and the Guarantor, to the
extent reasonably practicable, advance estimates of attorneys’ and agents’
compensation payable by the Issuer and the Guarantor hereunder.

     

    Anything
in this Indenture to the contrary notwithstanding, in no event shall the Trustee
or the Securities Administrator be liable for special, indirect or consequential
loss or damage of any kind whatsoever (including but not limited to lost
profits), even if the Trustee or the Securities Administrator has been advised
of the likelihood of such loss or damage and regardless of the form of
action.

     

    Section 6.07.  Right
of Trustee and Securities Administrator to Rely on Officers’ Certificate,
etc.  Subject to Sections 6.01 and 6.02, whenever in the
administration of the trusts of this Indenture the Trustee or the Securities
Administrator, as applicable shall deem it necessary or desirable that a matter
be proved or established prior to taking or suffering or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein
specifically prescribed) may, in the absence of negligence or bad faith on the
part of the Trustee or the Securities Administrator, as applicable, be deemed to
be conclusively proved and established by an Officers’ Certificate delivered to
the Trustee or the Securities Administrator, as applicable, and such
certificate, in the absence of negligence or bad faith on the part of the
Trustee or the Securities Administrator, as applicable, shall be full warrant to
the Trustee or the Securities Administrator, as applicable for any action taken,
suffered or omitted by it under the provisions of this Indenture upon the faith
thereof.

     

    Section
6.08.  Indentures
Not Creating Potential Conflicting Interests for the
Trustee.  The following indenture is hereby specifically
described for the

     

    
      
        
        

      

      
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    purposes
of Section 310(b)(1) of the Trust Indenture Act of 1939:  this
Indenture with respect to the Securities of any other series.

     

    Section 6.09.  Persons
Eligible for Appointment as Trustee.  The Trustee for each
series of Securities hereunder shall at all times be a corporation organized and
doing business under the laws of the United States of America or of any State or
the District of Columbia having a combined capital and surplus of at least
$5,000,000, and which is authorized under such laws to exercise corporate trust
powers and is subject to supervision or examination by Federal, State or
District of Columbia authority.  If such corporation publishes reports
of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published.  In case at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Trustee
shall resign immediately in the manner and with the effect specified in
Section
6.10.

     

    The provisions of this
Section
6.09 are
in furtherance of and subject to Section 310(a) of the Trust Indenture Act of
1939.

     

    Section 6.10.  Resignation
and Removal; Appointment of Successor Trustee and Successor Securities
Administrator.  (a) The Trustee, or any trustee or trustees
hereafter appointed or the Securities Administrator, or any securities
administrator, hereafter appointed, may at any time resign with respect to one
or more or all series of Securities by giving written notice of resignation to
the Issuer and the Guarantor and by mailing notice of such resignation to the
Holders of then Outstanding Registered Securities of each series affected at
their addresses as they shall appear on the registry books. Upon receiving such
notice of resignation, the Issuer or the Guarantor shall promptly appoint a
successor trustee or trustees or a successor securities administrator or
securities administrators with respect to the applicable series by written
instrument in duplicate, executed by authority of its board of directors, one
copy of which instrument shall be delivered to the resigning Trustee or
resigning Securities Administrator, as applicable and one copy to the successor
trustee or trustees or successor securities administrator or securities
administrators, as applicable.  If no successor trustee or successor
securities administrator, as applicable shall have been so appointed with
respect to any series and have accepted appointment within 30 days after the
mailing of such notice of resignation, the resigning trustee or successor
securities administrator, as applicable may petition any court of competent
jurisdiction for the appointment of a successor trustee or successor securities
administrator, as applicable, or any Securityholder who has been a bona fide
Holder of a Security or Securities of the applicable series for at least six
months may, subject to the provisions of Section 5.12 on behalf of himself
and all others similarly situated, petition any such court for the appointment
of a successor trustee or successor securities administrator, as
applicable.  Such court may thereupon, after such notice, if any, as
it may deem

     

    
      
        
        

      

      
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    proper
and prescribe, appoint a successor trustee or successor securities
administrator, as applicable.

     

    (b)        In
case at any time any of the following shall occur:

     

    (i)                 the
Trustee shall fail to comply with the provisions of Section 310(b) of the Trust
Indenture Act of 1939 with respect to any series of Securities after written
request therefor by the Issuer, the Guarantor or by any Securityholder who has
been a bona fide Holder of a Security or Securities of such series for at least
six months; or

     

    (ii)
               the
Trustee shall cease to be eligible in accordance with the provisions of
Section
6.09 and
Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after
written request therefor by the Issuer, the Guarantor or by any Securityholder;
or

     

    (iii)               the
Trustee shall become incapable of acting with respect to any series of
Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or
liquidator 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, the Issuer or the Guarantor may remove the Trustee with respect
to the applicable series of Securities and appoint a successor trustee for such
series by written instrument, in duplicate, executed by order of the Board or of
the Guarantor’s Board of Directors, one copy of which instrument shall be
delivered to the Trustee so removed and one copy to the successor trustee, or,
subject to the provisions of Section 315(e) of the Trust Indenture Act of 1939,
any Securityholder who has been a bona fide Holder of a Security or Securities
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 removal
of the Trustee and the appointment of a successor trustee with respect to such
series. Such court may thereupon, after such notice, if any, as it may deem
proper and prescribe, remove the Trustee and appoint a successor
trustee.

     

    Any resignation or removal
of the Trustee or Securities Administrator with respect to any series and any
appointment of a successor trustee or a successor securities administrator, as
applicable with respect to such series pursuant to any of the provisions of this
Section
6.10 shall become
effective upon acceptance of appointment by the successor trustee or the
successor securities administrator, as applicable as provided in Section 6.11.

     

    Section 6.11.  Acceptance
of Appointment by Successor Trustee or Successor Securities
Administrator.  Any successor trustee or successor securities
administrator appointed as provided in Section 6.10 shall execute and
deliver to the Issuer, the Guarantor and to its predecessor trustee or
predecessor securities

     

    
      
        
        

      

      
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    administrator, as
applicable an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor trustee or predecessor securities
administrator, as applicable with respect to all or any applicable series shall
become effective and such successor trustee or successor securities
administrator, as applicable, without any further act, deed or conveyance, shall
become vested with all rights, powers, duties and obligations with respect to
such series of its predecessor hereunder, with like effect as if originally
named as trustee for such series hereunder; but, nevertheless, on the written
request of the Issuer, the Guarantor or of the successor trustee or successor
securities administrator, as applicable, upon payment of its charges then
unpaid, the trustee or securities administrator, as applicable ceasing to act
shall, subject to Section 10.04 pay over to the
successor trustee or successor securities administrator, as applicable all
monies at the time held by it hereunder and shall execute and deliver an
instrument transferring to such successor trustee or successor securities
administrator, as applicable all such rights, powers, duties and obligations.
Upon request of any such successor trustee or successor securities
administrator, as applicable, the Issuer or the Guarantor shall execute any and
all instruments in writing for more fully and certainly vesting in and
confirming to such successor trustee or successor securities administrator, as
applicable all such rights and powers. Any trustee or securities administrator
ceasing to act shall, nevertheless, retain a prior claim upon all property or
funds held or collected by such trustee or securities administrator to secure
any amounts then due it pursuant to the provisions of Section 6.06.

     

    If any
successor trustee or securities administrator is or are appointed with respect
to the Securities of one or more (but not all) series, the Issuer, the
Guarantor, the predecessor trustee, the predecessor securities administrator and
each successor trustee and successor securities administrator, as applicable,
with respect to the Securities of any applicable series shall execute and
deliver an indenture supplemental hereto which shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the predecessor trustee or predecessor securities
administrator, as applicable, with respect to the Securities of any series as to
which the predecessor trustee or predecessor securities administrator, as
applicable, is not retiring shall continue to be vested in the predecessor
trustee or predecessor securities administrator, as applicable, and 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 or Securities Administrator, it being understood that nothing
herein or in such supplemental indenture shall constitute each Trustee,
Securities Administrator, co-trustees or co-securities administrators of the
same trust and that each such Trustee shall be trustee of a trust or trusts
under separate indentures.

     

    No successor trustee with
respect to any series of Securities shall accept appointment as provided in this
Section
6.11 unless at the time
of such acceptance

     

    
      
        
        

      

      
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    such successor trustee
shall be qualified under Section 310(b) of the Trust Indenture Act of 1939 and
eligible under the provisions of Section 6.09.

     

    Upon acceptance of
appointment by any successor trustee or successor securities administrator as
provided in this Section 6.11, the Issuer or the
Guarantor shall give notice thereof by mailing notice to the Holders of then
Outstanding Registered Securities of each series affected at their addresses as
they shall appear on the registry books.  If the acceptance of
appointment is substantially contemporaneous with the resignation, then the
notice called for by the preceding sentence may be combined with the notice
called for by Section 6.10.  If the
Issuer  or the Guarantor fails to give such notice within ten days
after acceptance of appointment by the successor trustee or successor securities
administrator, as applicable, the successor trustee or successor securities
administrator, as applicable shall cause such notice to be given at the expense
of the Issuer or the Guarantor.

     

    Section 6.12.  Merger,
Conversion, Consolidation or Succession to Business of Trustee or the Securities
Administrator.  Any corporation into which the Trustee or the
Securities Administrator, as applicable, 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 or the Securities
Administrator, as applicable, shall be a party, or any corporation succeeding to
all or substantially all of the corporate trust business of the Trustee or any
corporation or association to which all or substantially all of the corporate
trust business of the Trustee or Securities Administrator, as applicable, may be
sold, shall be the successor of the Trustee or the Securities Administrator, as
applicable, hereunder, provided
that (with respect to the Trustee only) such corporation shall be qualified
under Section 310(b) of the Trust Indenture Act of 1939 and eligible under the
provisions of Section 6.09, without the execution or
filing of any paper or any further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding.

     

    In case
at the time such successor to the Securities Administrator shall succeed to the
duties of the predecessor Securities Administrator created by this Indenture any
of the Securities of any series shall have been authenticated but not delivered,
any such successor to the Securities Administrator may adopt the certificate of
authentication of any predecessor Securities Administrator and deliver such
Securities so authenticated; and, in case at that time any of the Securities of
any series shall not have been authenticated, any successor to the Securities
Administrator may authenticate such Securities either in the name of any
predecessor hereunder or in the name of the successor Securities Administrator;
and in all such cases such certificate shall have the full force which it is
anywhere in the Securities of such series or in this Indenture provided that the
certificate of the Securities Administrator shall have; provided, that the right
to adopt the certificate of authentication of any predecessor Securities
Administrator or to authenticate Securities of any series in the name of
any

     

    
      
        
        

      

      
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    predecessor
Securities Administrator shall apply only to its successor or successors by
merger, conversion or consolidation or sale.

     

     

    ARTICLE
7

    Concerning  the
Securityholders

     

    Section 7.01.  Evidence
of Action Taken by Securityholders.  Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by a specified percentage in principal
amount of the Securityholders of any or all series may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by
such specified percentage of Securityholders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and/or the Securities Administrator, as required under the
Indenture of the applicable Securities.  Proof of execution of any
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and (subject to Sections 6.01 and 6.02) conclusive in favor of
the Trustee, the Securities Administrator and the Issuer, if made in the manner
provided in this Article.

     

    Section 7.02.  Proof
of Execution of Instruments and of Holding of
Securities.  Subject to Sections 6.01 and 6.02, the execution of any
instrument by a Securityholder or his agent or proxy may be proved in the
following manner:

     

    (a)        The
fact and date of the execution by any Holder of any instrument may be proved by
the certificate of any notary public or other officer of any jurisdiction
authorized to take acknowledgments of deeds or administer oaths that the person
executing such instruments acknowledged to him the execution thereof, or by an
affidavit of a witness to such execution sworn to before any such notary or
other such officer.  Where such execution is by or on behalf of any
legal entity other than an individual, such certificate or affidavit shall also
constitute sufficient proof of the authority of the person executing the
same.

     

    (b)        In
the case of Registered Securities, the ownership of such Securities shall be
proved by the Security register or by a certificate of the Security
registrar.

     

    The Issuer may set a
record date for purposes of determining the identity of Holders of Registered
Securities of any series entitled to vote or consent to any action referred to
in Section
7.01, which
record date may be set at any time or from time to time by notice to the Trustee
and the Securities Administrator, for any date or dates (in the case of any
adjournment or reconsideration) not more than 60 days nor less than five days
prior to the proposed date of such vote or consent, and thereafter,
notwithstanding any other provisions hereof, with respect to Registered
Securities of any series, only Holders of Registered Securities
of

     

    
      
        
        

      

      
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    such
series of record on such record date shall be entitled to so vote or give such
consent or revoke such vote or consent.

     

    Section
7.03.  Holders
to Be Treated as Owners.  The Issuer, the Guarantor, the
Trustee, the Securities Administrator and any agent of the Issuer, the
Guarantor, the Securities Administrator or the Trustee may deem and treat the
Person in whose name any Security shall be registered upon the Security register
for such series as the absolute owner of such Security (whether or not such
Security shall be overdue and notwithstanding any notation of ownership or other
writing thereon) for the purpose of receiving payment of or on account of the
principal of and, subject to the provisions of this Indenture, interest on such
Security and for all other purposes; and none of  the Issuer, the
Guarantor, the Securities Administrator, the Trustee or any agent of the Issuer,
the Guarantor, the Securities Administrator or the Trustee shall be affected by
any notice to the contrary. 

     

    Section 7.04.  Securities
Owned by Issuer Deemed not Outstanding.  In determining whether
the Holders of the requisite aggregate principal amount of Outstanding
Securities of any or all series have concurred in any direction, consent or
waiver under this Indenture, Securities which are owned by the Issuer, the
Guarantor or any other obligor on the Securities with respect to which such
determination is being made or by any Person directly or indirectly controlling
or controlled by or under direct or indirect common control with the Issuer, the
Guarantor or any other obligor on the Securities with respect to which such
determination is being made shall be disregarded and deemed not to be
Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any
such direction, consent or waiver only Securities which a Responsible Officer of
the Trustee actually knows are 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 Issuer, the Guarantor or any other
obligor upon the Securities or any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Issuer, the
Guarantor or any other obligor on the Securities.  In case of a
dispute as to such right, the advice of counsel shall be full protection in
respect of any decision made by the Trustee in accordance with such
advice.  Upon request of the Trustee or the Securities Administrator,
the Issuer shall furnish to the Trustee and the Securities Administrator
promptly an Officers’ Certificate listing and identifying all Securities, if
any, known by the Issuer to be owned or held by or for the account of any of the
above-described Persons; and, subject to Sections 6.01 and 6.02, the Trustee and the
Securities Administrator shall be entitled to accept such Officers’ Certificate
as conclusive evidence of the facts therein set forth and of the fact that all
Securities not listed therein are Outstanding for the purpose of any such
determination.

     

    
      
        
        

      

      
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    Section
7.05.  Right
of
Revocation of Action Taken.  At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 7.01, of the taking
of any action by the Holders of the percentage in aggregate principal amount of
the Securities of any or all series, as the case may be, specified in this
Indenture in connection with such action, any Holder of a Security which is
shown by the evidence to be included among the Securities of which the Holders
have consented to such action may, by filing written notice at the applicable
Corporate Trust Office and upon proof of holding as provided in this Article,
revoke such action so far as concerns such Security.  Except as
aforesaid any such action taken by the Holder of any Security shall be
conclusive and binding upon such Holder and upon all future Holders and owners
of such Security and of any Securities issued in exchange or substitution
therefor or on registration of transfer thereof, irrespective of whether or not
any notation in regard thereto is made upon any such Security.  Any
action taken by the Holders of the percentage in aggregate principal amount of
the Securities of any or all series, as the case may be, specified in this
Indenture in connection with such action shall be conclusively binding upon the
Issuer, the Guarantor, the Trustee, the Securities Administrator and the Holders
of all the Securities affected by such action.

     

     

    ARTICLE
8

    Supplemental
Indentures

     

    Section
8.01.  Supplemental
Indentures Without Consent of Securityholders.  The Issuer,
when authorized by a resolution of its Board (which resolution may provide
general terms or parameters for such action and may provide that the specific
terms of such action may be determined in accordance with or pursuant to an
Issuer Order) and the Guarantor, when authorized by a resolution of the
Guarantor’s Board of Directors, the Securities Administrator and the Trustee may
from time to time and at any time enter into an indenture or indentures
supplemental hereto for one or more of the following purposes:

     

    (a)        to
convey, transfer, assign, mortgage or pledge to the Trustee as security for the
Securities of one or more series any property or assets;

     

    (b)        to
evidence the succession of another corporation to the Issuer or the Guarantor,
as the case may be, or successive successions, and the assumption by the
successor corporation of the covenants, agreements and obligations of the Issuer
or the Guarantor, as the case may be, pursuant to Article 9;

     

    (c)        to
add to the covenants of the Issuer or the Guarantor, as the case may be, such
further covenants, restrictions, conditions or provisions as the Issuer or the
Guarantor, as the case may be, shall consider to be for the protection of the
Holders of Securities, and to make the occurrence, or the occurrence and
continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an Event of Default permitting the enforcement of all
or any of the several remedies provided in this Indenture as herein set forth;
provided,
that in

     

    
      
        
        

      

      
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    respect
of any such additional covenant, restriction, condition or provision such
supplemental indenture may provide for a particular period of grace after
default (which period may be shorter or longer than that allowed in the case of
other defaults) or may provide for an immediate enforcement upon such an Event
of Default or may limit the remedies available to the Trustee upon such an Event
of Default or may limit the right of the Holders of a majority in aggregate
principal amount of the Securities of such series to waive such an Event of
Default;

     

    (d)        to
cure any ambiguity or to correct or supplement any provision contained herein or
in any supplemental indenture which may be defective or inconsistent with any
other provision contained herein or in any supplemental indenture, or to make
any other provisions as the Issuer or the Guarantor may deem necessary or
desirable, provided
that no such action shall adversely affect the interests of the Holders of the
Securities;

     

    (e)        to
establish the forms or terms of Securities of any series as permitted by
Sections 2.01 and 2.03; and

     

    (f)        to
evidence and provide for the acceptance of appointment hereunder by a successor
trustee or securities administrator with respect to the Securities of one or
more series and to add to or change any of the provisions of this Indenture as
shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one trustee, pursuant to the requirements of Section 6.11.

     

    The
Trustee and the Securities Administrator is hereby authorized to join with the
Issuer and the Guarantor in the execution of any such supplemental indenture, to
make any further appropriate agreements and stipulations which may be therein
contained and (with respect to the Trustee) to accept the conveyance, transfer,
assignment, mortgage or pledge of any property thereunder, but neither the
Trustee nor the Securities Administrator shall not be obligated to enter into
any such supplemental indenture which affects the Trustee’s or the Securities
Administrator’s own rights, duties or immunities under this Indenture or
otherwise.

     

    Any supplemental indenture
authorized by the provisions of this Section may be executed without the consent
of the Holders of any of the Securities at the time outstanding, notwithstanding
any of the provisions of Section 8.02.

     

    Section 8.02.  Supplemental
Indentures With Consent Of Securityholders.  With the consent
(evidenced as provided in Article 7) of the Holders of not
less than a majority in aggregate principal amount of the Securities at the time
Outstanding of all series affected by such supplemental indenture (voting as one
class), the Issuer, when authorized by a resolution of its Board (which
resolution may provide general terms or parameters for such action and may
provide that the specific terms of such action may be determined in accordance
with or pursuant to an Issuer Order), the Guarantor, when authorized by a
Guarantor’s Board

     

    
      
        
        

      

      
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    Resolution (which
resolution may provide general terms or parameters for such action and may
provide that the specific terms of such action may be determined in accordance
with or pursuant to an Issuer Order), the Securities Administrator and the
Trustee may, from time to time and at any time, 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 any supplemental indenture or of modifying in any manner the rights of the
Holders of the Securities of each such series or; provided,
that no such supplemental indenture shall (a) (i) extend the final maturity of
any Security, (ii) reduce the principal amount thereof, (iii) reduce the rate or
extend the time of payment of interest thereon, (iv) reduce any amount payable
on redemption thereof, (v) make the principal thereof (including any amount in
respect of original issue discount), or interest thereon payable in any coin or
currency other than that provided in the Securities or in accordance with the
terms thereof, (vi)modify or amend any provisions for converting any currency
into any other currency as provided in the Securities or in accordance with the
terms thereof, (vii) reduce the amount of the principal of an Original Issue
Discount Security that would be due and payable upon an acceleration of the
maturity thereof pursuant to Section 5.01 or the amount
thereof provable in bankruptcy pursuant to Section 5.02, (viii) modify or amend
any provisions relating to the conversion or exchange of the Securities for
securities of the Issuer or the Guarantor or of other entities or other property
(or the cash value thereof), including the determination of the amount of
securities or other property (or cash) into which the Securities shall be
converted or exchanged, other than as provided in the antidilution provisions or
other similar adjustment provisions of the Securities or otherwise in accordance
with the terms thereof, (ix) alter the provisions of Section 11.11 or 11.13 or impair or affect
the right of any Securityholder to institute suit for the payment thereof or, if
the Securities provide therefor, any right of repayment at the option of the
Securityholder, in each case without the consent of the Holder of each Security
so affected, or (b) reduce the aforesaid percentage of Securities of any series,
the consent of the Holders of which is required for any such supplemental
indenture, without the consent of the Holders of each Security so
affected.

     

    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 Holders of Securities of such series, with respect to such covenant or
provision, shall be deemed not to affect the rights under this Indenture of the
Holders of Securities of any other series.

     

    Upon the
request of the Issuer, accompanied by a copy of a resolution of the Board (which
resolution may provide general terms or parameters for such action and may
provide that the specific terms of such action may be determined in accordance
with or pursuant to an Issuer Order) certified by the secretary or an assistant
secretary of the Issuer authorizing the execution of any such

     

    
      
        
        

      

      
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    supplemental indenture, or
upon the request of the Guarantor, accompanied by a copy of a Guarantor’s Board
Resolution (which resolution may provide general terms or parameters for such
action and may provide that the specific terms of such action may be determined
in accordance with or pursuant to an Issuer Order) certified by the secretary or
an assistant secretary of the Guarantor authorizing the execution of any such
supplemental indenture, and upon the filing with the Trustee and the Securities
Administrator evidence of the consent of the Holders of the Securities as
aforesaid and other documents, if any, required by Section 7.01 the Trustee and the
Securities Administrator shall join with the Issuer and the Guarantor in the
execution of such supplemental indenture unless such supplemental indenture
affects the Trustee’s or the Securities Administrator’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion, but shall not be obligated to, enter into such supplemental
indenture.

     

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

     

    Promptly
after the execution by the Issuer, the Guarantor, the Securities Administrator
and the Trustee of any supplemental indenture pursuant to the provisions of this
Section, the Securities Administrator shall give notice thereof by mailing
notice thereof, at the expense of the Issuer by first class mail to the Holders
of then Outstanding Registered Securities of each series affected at their
addresses as they shall appear on the registry books, and in each case such
notice shall set forth in general terms the substance of such supplemental
indenture.  Any failure of the Securities Administrator to give such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

     

    Section
8.03.  Effect
of Supplemental Indenture.  Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall
be and be deemed to be modified and amended in accordance therewith and the
respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Securities Administrator, the Issuer,
the Guarantor and the Holders of Securities of each series affected thereby
shall thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

     

    Section 8.04.  Documents
to Be Given to Trustee and the Securities Administrator.  The
Trustee and the Securities Administrator, subject to the provisions of Sections
6.01 and 6.02, shall be entitled to
receive an Officers’ Certificate, a Guarantor’s Officers’ Certificate and an
Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant to this Article 8  complies with
the applicable provisions of this Indenture.

     

    
      
        
        

      

      
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        Section
8.05. Notation on Securities
in Respect of Supplemental Indentures. Securities of any series
authenticated and delivered after the execution of any supplemental indenture
pursuant to the provisions of this Article may bear a notation in form approved
by the Securities Administrator for such series as to any matter provided for by
such supplemental indenture or as to any action taken by Securityholders. If the
Issuer or the Securities Administrator shall so determine, new Securities of any
series so modified as to conform to any modification of this Indenture contained
in any such supplemental indenture may be prepared by the Issuer, authenticated
by the Securities Administrator and delivered in exchange for the Securities of
such series then Outstanding.

         

        ARTICLE
9 

        CONSOLIDATION, MERGER, SALE OR CONVEYANCE

        

        Section
9.01. Covenant Not to Merge,
Consolidate, Sell or Convey Property Except Under Certain Conditions. The
Issuer and the Guarantor covenants that it will not merge or consolidate
with any other
Person or sell, lease or convey all or substantially all of its assets to any
other Person, unless (i) either (A) the Issuer or the Guarantor shall be the
continuing legal entity, or (B) the successor legal entity or the Person which
acquires by sale, lease or conveyance substantially all the assets of the Issuer
or Guarantor (if other than the Issuer or the Guarantor) shall be incorporated
under the laws of The Netherlands, a member state of the European Union or the
Organisation for Economic Co-Operation and Development or, if no adverse tax
consequences to the Securityholder would result therefrom (as evidenced by an
opinion of independent counsel, reasonably satisfactory to the Trustee and the
Securities Administrator, provided to the Trustee and the Securities
Administrator), any other jurisdiction, and shall expressly assume the due and
punctual payment of the principal of and interest on all the Securities, if any,
according to their tenor, and the due and punctual performance and observance of
all of the covenants and conditions of this Indenture to be performed or
observed by the Issuer or the Guarantor, by supplemental indenture satisfactory
to the Trustee and the Securities Administrator, executed and delivered to the
Trustee and the Securities Administrator by such legal entity, and (ii) the
Issuer, the Guarantor, such Person or such successor legal entity, as the case
may be, shall not, immediately after such merger or consolidation, or such sale,
lease or conveyance, be in default in the performance of any such covenant or
condition.

        

        Section
9.02. Successor Corporation
Substituted. In case of any such consolidation, merger, sale, lease or
conveyance, and following such an assumption by the successor corporation, such
successor corporation shall succeed to and be substituted for the Issuer or the
Guarantor, with the same effect as if it had been named herein. Such successor
corporation may cause to be signed, and may issue either in its own name or in
the name of the Issuer or the Guarantor prior to such succession any or all of
the Securities issuable hereunder which

         

        
          
             

          

          
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        theretofore
shall not have been signed by the Issuer or the Guarantor and delivered to the
Trustee and the Securities Administrator; and, upon the order of such successor
corporation, instead of the Issuer or the Guarantor, and subject to all the
terms, conditions and limitations in this Indenture prescribed, the Securities
Administrator shall authenticate and shall deliver any Securities which
previously shall have been signed and delivered by the officers of the Issuer or
the Guarantor to the Trustee for authentication, and any Securities which such
successor corporation thereafter shall cause to be signed and delivered to the
Securities Administrator for that purpose. All of the Securities so issued shall
in all respects have the same legal rank and benefit under this Indenture as the
Securities theretofore or thereafter issued in accordance with the terms of this
Indenture as though all of such Securities had been issued at the date of the
execution hereof.

        

        In the
event of any such sale or conveyance (other than a conveyance by way of lease)
the Issuer, the Guarantor or any successor corporation which shall theretofore
have become such in the manner described in this Article shall be discharged
from all obligations and covenants under this Indenture and the Securities and
may be liquidated and dissolved.

        

        Section
9.03. Opinion of Counsel
Delivered to Trustee and the Securities Administrator. The Trustee and
the Securities Administrator, subject to the provisions of Sections 6.01 and
6.02, shall be entitled to receive an Opinion of Counsel as conclusive evidence
that any such consolidation, merger, sale, lease or conveyance, and any such
assumption, and any such liquidation or dissolution, complies with the
applicable provisions of this Indenture.

        

        

        ARTICLE
10 

        SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONIES

        

        Section
10.01. Satisfaction and
Discharge of Indenture. (a) If at any time (i) the Issuer or the
Guarantor shall have paid or caused to be paid the principal of and interest on
all the Securities of any series Outstanding hereunder (other than Securities of
such series which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 2.09) as and when the same shall have
become due and payable, or (ii) the Issuer or the Guarantor shall have delivered
to the Securities Administrator for cancellation all Securities of any series
theretofore authenticated (other than any Securities of such series which shall
have been destroyed, lost or stolen and which shall have been replaced or paid
as provided in Section 2.09) or (iii) in the case of any series of Securities
where the exact amount (including the currency of payment) of principal of and
interest due on which can be determined at the time of making the deposit
referred to in clause (B) below, (A) all the Securities of such series not
theretofore delivered to the Securities Administrator for cancellation shall
have become due and payable, or are by their terms to become due and payable
within one year or are to be called for redemption within one year under
arrangements satisfactory to

        

        

        
          
             

          

          
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        the
Securities Administrator for the giving of notice of redemption, and (B) the
Issuer or the Guarantor shall have irrevocably deposited or caused to be
deposited with the Securities Administrator as trust funds the entire amount in
cash (other than monies repaid by the Securities Administrator or any paying
agent to the Issuer in accordance with Section 10.04 or, in the case of any
series of Securities the payments on which may only be made in Dollars, direct
obligations of the United States of America, backed by its full faith and credit
(“U.S. Government
Obligations”), maturing as to principal and interest at such times and in
such amounts as will insure the availability of cash, or a combination thereof,
sufficient in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee and the Securities Administrator, to pay (1) the principal and interest
on all Securities of such series on each date that such principal or interest is
due and payable and (2) any mandatory sinking fund payments on the dates on
which such payments are due and payable in accordance with the terms of the
Indenture and the Securities of such series; and if, in any such case, the
Issuer or the Guarantor shall also pay or cause to be paid all other sums
payable hereunder by the Issuer or the Guarantor, as the case may be, then this
Indenture shall cease to be of further effect (except as to (i) rights of
registration of transfer and exchange of Securities of such Series and the
Issuer’s right of optional redemption, if any, (ii) substitution of mutilated,
defaced, destroyed, lost or stolen Securities, (iii) rights of holders of
Securities to receive payments of principal thereof and interest thereon, upon
the original stated due dates therefor (but not upon acceleration), and
remaining rights of the Holders to receive mandatory sinking fund payments, if
any, (iv) the rights, obligations, duties and immunities of the Trustee and the
Securities Administrator hereunder, (v) the rights of the Holders of Securities
of such series as beneficiaries hereof with respect to the property so deposited
with the Trustee and/or the Securities Administrator payable to all or any of
them and (vi) the obligations of the Issuer and the Guarantor under Section
3.02) and the Trustee and the Securities Administrator, on demand of the Issuer
or the Guarantor accompanied by an Officers’ Certificate or a Guarantor’s
Officers’ Certificate and an Opinion of Counsel and at the cost and expense of
the Issuer, shall execute proper instruments acknowledging such satisfaction of
and discharging this Indenture; provided, that the rights of
Holders of the Securities to receive amounts in respect of principal of and
interest on the Securities held by them shall not be delayed longer than
required by then-applicable mandatory rules or policies of any securities
exchange upon which the Securities are listed. The Issuer and the Guarantor
agree to reimburse the Trustee and the Securities Administrator for any costs or
expenses thereafter reasonably and properly incurred and to compensate the
Trustee and the Securities Administrator for any services thereafter reasonably
and properly rendered by the Trustee and the Securities Administrator in
connection with this Indenture or the Securities of such series.

        

        (b) The
following provisions shall apply to the Securities of each series unless
specifically otherwise provided in a Board Resolution, Officers’
Certificate

        

          
            
               

            

            
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        or
indenture supplemental hereto provided pursuant to Section 2.03. In addition to
discharge of the Indenture pursuant to the next preceding paragraph, in the case
of any series of Securities the exact amounts (including the currency of
payment) of principal of and interest due on which can be determined at the time
of making the deposit referred to in clause (i) below, the Issuer and the
Guarantor shall be deemed to have paid and discharged the entire indebtedness on
all the Securities of such a series on the 91st day after the date of the
deposit referred to in clause (i) below, and the provisions of this Indenture
with respect to the Securities of such series shall no longer be in effect
(except as to (1) rights of registration of transfer and exchange of Securities
of such series and the Issuer’s right of optional redemption, if any, (2)
substitution of mutilated, defaced, destroyed, lost or stolen Securities, (3)
rights of Holders of Securities to receive payments of principal thereof and
interest thereon, upon the original stated due dates therefor (but not upon
acceleration), and remaining rights of the Holders to receive mandatory sinking
fund payments, if any, (4) the rights, obligations, duties and immunities of the
Trustee and the Securities Administrator hereunder, (5) the rights of the
Holders of Securities of such series as beneficiaries hereof with respect to the
property so deposited with the Trustee and/or the Securities Administrator
payable to all or any of them and (6) the obligations of the Issuer and the
Guarantor under Section 3.02) and the Trustee and the Securities Administrator,
at the expense of the Issuer and the Guarantor, shall at the Issuer’s or the
Guarantor’s request, execute proper instruments acknowledging the same,
if

        

        (i)         with
reference to this provision the Issuer or the Guarantor has irrevocably
deposited or caused to be irrevocably deposited with the Trustee or the
Securities Administrator as trust funds in trust, specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of the
Securities of such series (A) cash in an amount, or (B) in the case of any
series of Securities the payments on which may only be made in Dollars, U.S.
Government Obligations, maturing as to principal and interest at such times and
in such amounts as will insure the availability of cash or (C) a combination
thereof, sufficient, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee and the Securities Administrator, to pay (1) the
principal and interest on all Securities of such series on each date that such
principal or interest is due and payable and (2) any mandatory sinking fund
payments on the dates on which such payments are due and payable in accordance
with the terms of the Indenture and the Securities of such series;

        

        (ii)          such
deposit will not result in a breach or violation of, or constitute a default
under, any agreement or instrument to which the Issuer or the Guarantor is a
party or by which it is bound;

        

        (iii)          the
Issuer or the Guarantor has delivered to the Trustee and the Securities
Administrator an Opinion of Counsel based on the fact that (x) the Issuer or the
Guarantor has received from, or there has been

         

        
          
             

          

          
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        published
by, the United States Internal Revenue Service a ruling or (y) since the date
hereof, there has been a change in the applicable United States Federal income
tax law, in either case to the effect that, and such opinion shall confirm that,
the Holders of the Securities of such series will not recognize income, gain or
loss for United States Federal income tax purposes as a result of such deposit,
defeasance and discharge and will be subject to United States 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

        

        (iv)           the
Issuer or the Guarantor has delivered to the Trustee and the Securities
Administrator an Officers’ Certificate or Guarantor’s Officers’ Certificate and
an Opinion of Counsel, each stating that all conditions precedent provided for
relating to the defeasance contemplated by this provision have been complied
with.

         

        (c)
Each of
the Issuer and the Guarantor shall be released from its obligations under
Section 9.01
with
respect to the Securities of any Series, Outstanding, and under the Guarantee in
respect thereof, on and after the date the conditions set forth below are
satisfied (hereinafter, “covenant
defeasance”).
For this purpose, such covenant defeasance means that, with respect to the
Outstanding Securities
of any Series, and under the Guarantee in respect thereof, the Issuer and the
Guarantor may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in such Sections, whether directly or
indirectly by reason of any reference elsewhere herein to such Sections or by
reason of any reference in such Sections to any other provision herein or in any
other document and such omission to comply shall not constitute an Event of
Default under Section 5.01 but the remainder of this Indenture and such
Securities and the Guarantee shall be unaffected thereby. The following shall be
the conditions to application of this subsection (c) of this Section
10.01.

        

        (i)         The
Issuer or the Guarantor has irrevocably deposited or caused to be deposited with
the Trustee or the Securities Administrator as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefit of the holders of the Securities of such
series, (A) cash in an amount, or (B) in the case of any series of Securities
the payments on which may only be made in Dollars, U.S. Government Obligations
maturing as to principal and interest at such times and in such amounts as will
insure the availability of cash or (C) a combination thereof, sufficient, in the
opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee and the
Securities Administrator, to pay (1) the principal and interest on all
Securities of such series and (2) any mandatory sinking fund payments on the day
on which such payments are due and payable in accordance with the terms of the
Indenture and the Securities of such series.

        

         

        
          
             

          

          
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        (ii)          No
Event of Default or event which with notice or lapse of time or both would
become an Event of Default with respect to the Securities shall have occurred
and be continuing on the date of such deposit or, insofar as subsections 5.01(c)
and 5.01(d) are concerned, at any time during the period ending on the 91st day
after the date of such deposit (it being understood that this condition shall
not be deemed satisfied until the expiration of such period).

        

           
(iii)          Such covenant
defeasance shall not cause the Trustee to have a conflicting interest for
purposes of the Trust Indenture Act of 1939 with respect to any securities of
the Issuer or the Guarantor.

        

        (iv)          Such
covenant defeasance shall not result in a breach or violation of, or constitute
a default under, this Indenture or any other agreement or instrument to which
the Issuer or the Guarantor is a party or by which either of them is
bound.

        

        (v)          Such
covenant defeasance shall not cause any Securities then listed on any registered
national securities exchange under the Securities Exchange Act of 1934, as
amended, to be delisted.

        

        (vi)         The
Issuer or the Guarantor shall have delivered to the Trustee and the Securities
Administrator an Officers’ Certificate or Guarantor’s Officer’s Certificate as
the case may be, and Opinion of Counsel to the effect that the Holders of the
Securities of such series will not recognize income, gain or loss for United
States Federal income tax purposes as a result of such covenant defeasance and
will be subject to United States Federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such covenant
defeasance had not occurred.

        

        (vii)         The
Issuer or the Guarantor shall have delivered to the Trustee and the Securities
Administrator an Officers’ Certificate or a Guarantor’s Officers’ Certificate,
as the case may be, and an Opinion of Counsel, each stating that all conditions
precedent provided for relating to the covenant defeasance contemplated by this
provision have been complied with.

        

        Section
10.02. Application by Trustee
or the Securities Administrator of Funds Deposited for Payment of Securities.
Subject to Section 10.04, all monies deposited with the Trustee or
the Securities
Administrator (or other trustee) pursuant to Section 10.01 shall be held in
trust and applied by it to the payment, either directly or through any paying
agent (including the Issuer acting as its own paying agent or the Guarantor
acting as paying agent), to the Holders of the particular Securities of such
series for the payment or redemption of which such monies have been deposited
with the Trustee or the Securities Administrator, as the case may be, of all
sums due and to become due thereon for principal and

         

        
          
             

          

          
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        interest;
but such money need not be segregated from other funds except to the extent
required by law.

        

        Section
10.03. Repayment of Monies
Held by Paying Agent. In connection with the satisfaction and discharge
of this Indenture with respect to Securities of any series, all monies then held
by any paying agent under the provisions of this Indenture with respect to such
series of Securities shall, upon demand of the Issuer, be repaid to it or paid
to the Trustee and thereupon such paying agent shall be released from all
further liability with respect to such monies.

        

        Section
10.04. Return of Monies Held
by Trustee and the Securities Administrator Unclaimed for Two Years. Any monies
deposited with or paid to the Trustee or the Securities Administrator for the payment of the
principal of or interest on any Security of any series and not applied but
remaining unclaimed for two years after the date upon which such principal or
interest shall have become due and payable, shall, upon the written request of
the Issuer or the Guarantor and unless otherwise required by mandatory
provisions of applicable escheat or abandoned or unclaimed property law, be
repaid to the Issuer or the Guarantor by the Trustee or the Securities
Administrator for such series or any paying agent, and the Holder of the
Securities of such series shall, unless otherwise required by mandatory
provisions of applicable escheat or abandoned or unclaimed property laws,
thereafter look only to the Issuer or the Guarantor for any payment which such
Holder may be entitled to collect, and all liability of the Trustee and the
Securities Administrator or any paying agent with respect to such monies shall
thereupon cease; provided, however, that the Trustee,
the Securities Administrator or such paying agent, before being required to make
any such repayment with respect to monies deposited with it for any payment
shall at the expense of the Issuer or the Guarantor, mail by first-class mail to
Holders of such Securities at their addresses as they shall appear on the
Security register.

        

        Section
10.05. Indemnity for U.S.
Government Obligations. The Issuer or the Guarantor shall pay and
indemnify the Trustee and the Securities Administrator against any tax, fee or
other charge imposed on or assessed against the U.S. Government Obligations
deposited pursuant to Section 10.01 or the principal or interest received in
respect of such obligations. 

        

        ARTICLE
11 

        MISCELLANEOUS PROVISIONS

        

        Section
11.01. Incorporators,
Stockholders, Officers and Directors of Issuer and Guarantor Exempt from Individual
Liability. No recourse under or upon any obligation, covenant or
agreement contained in this
Indenture, or in any Security, or because of any indebtedness evidenced thereby,
shall be had against any incorporator, as such or against any past, present or
future stockholder (except in a stockholder’s capacity as Guarantor), officer or
director, as such, of the Issuer

        

        

        
          
             

          

          
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        or the
Guarantor or of any successor, either directly or through the Issuer or the
Guarantor, as the case may be, or any successor, under any rule of law, statute
or constitutional provision or by the enforcement of any assessment or by any
legal or equitable proceeding or otherwise, all such liability being expressly
waived and released by the acceptance of the Securities by the Holders thereof
and as part of the consideration for the issue of the Securities.

        

        Section
11.02.  Provisions
of Indenture for the Sole Benefit of Parties and Holders of Securities.
Nothing
in this Indenture, in the Securities, expressed or implied, shall give or be
construed to give to any person, firm or corporation, other than the parties
hereto and their successors and the Holders of the Securities, if any, any legal
or equitable right, remedy or claim under this Indenture or under any covenant
or provision herein contained, all such covenants and provisions being for the
sole benefit of the parties hereto and their successors and of the Holders of
the Securities.

        

        Section
11.03. Successors and Assigns
of Issuer and Guarantor Bound by Indenture. All the covenants,
stipulations, promises and agreements in this Indenture contained by or in
behalf of the Issuer shall bind its successors and assigns, whether so expressed
or not. All the covenants, stipulations, promises and agreements in this
Indenture contained by or in behalf of the Guarantor shall bind its successors
and assigns, whether so expressed or not.

        

        Section
11.04. Notices and Demands on
Issuer, Guarantor, Trustee, the Securities Administrator and Holders of
Securities. Any notice or demand which by any provision of this Indenture is required
or permitted to be given or served by the Trustee, the Securities Administrator
or by the Holders of Securities to or on the Issuer or the Guarantor may be
given or served by being deposited postage prepaid, first-class mail or by
overnight delivery, courier or facsimile (with a confirmation copy delivered via
one of the preceding methods of delivery) (except as otherwise specifically
provided herein) addressed (until another address of the Issuer or the Guarantor
is filed by the Issuer or the Guarantor with the Trustee) to ABN AMRO Bank N.V.,
Gustav Mahlerlaan 10, 1082 PP Amsterdam, The Netherlands, Attention: Central
Legal Department, Secretariat. Any notice, direction, request or demand by the
Issuer, the Guarantor or any Holder of Securities to or upon the Trustee or the
Securities Administrator shall be deemed to have been sufficiently given or
served by being deposited postage prepaid, first-class mail (except as otherwise
specifically provided herein) or by overnight delivery, courier or facsimile
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        one of
the preceding methods of delivery), in each case addressed (until another
address of the Trustee is filed by the Trustee with the Issuer) to the
applicable Corporate Trust Office.

        

        Where
this Indenture provides for notice to Holders of Registered Securities, such
notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, or by overnight delivery,
courier or facsimile (with a confirmation copy delivered via one of the
preceding methods of delivery), to each Holder entitled thereto, at his last
address as it appears in the Security register. In any case where notice to such
Holders is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders. 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 or the Securities Administrator, as the case may
be, but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such waiver.

        

        In case,
by reason of the suspension of or irregularities in regular mail service, it
shall be impracticable to mail notice to the Issuer or the Guarantor when such
notice is required to be given pursuant to any provision of this Indenture, then
any manner of giving such notice as shall be reasonably satisfactory to the
Trustee or the Securities Administrator, as the case may be, shall be deemed to
be a sufficient giving of such notice.

        

        Section
11.05. Officers’ Certificates
and Opinions of Counsel; Statements to Be Contained Therein. Upon any application
or demand by the Issuer or the Guarantor to the Trustee or the Securities
Administrator to take any action under any of the provisions of this Indenture,
the Issuer or the Guarantor, as the case may be, shall furnish to the Trustee
and the Securities Administrator an Officers’ Certificate or a Guarantor’s
Officers’ Certificate stating that all conditions precedent provided for in this
Indenture relating to the proposed action have been complied with and an Opinion
of Counsel stating that in the opinion of such counsel all such conditions
precedent have been complied with, except that in the case of any such
application or demand as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be
furnished.

        

        Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee and the Securities Administrator with respect to compliance with a
condition or covenant provided for in this Indenture shall include (a) a
statement that the person making such certificate or opinion has read such
covenant or condition, (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based, (c) a statement that, in the opinion of
such person, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or
condition has been complied with and (d) a statement as to whether or not, in
the opinion of such person, such condition or covenant has been complied
with.

        

        Any
certificate, statement or opinion of an officer of the Issuer or the Guarantor
may be based, insofar as it relates to legal matters, upon a certificate
or

        

        
          
             

          

          
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opinion
of or representations by counsel, unless such officer knows that the certificate
or opinion or representations with respect to the matters upon which his
certificate, statement or opinion may be based as aforesaid are erroneous, or in
the exercise of reasonable care should know that the same are erroneous. Any
certificate, statement or opinion of counsel may be based, insofar as it relates
to factual matters, information with respect to which is in the possession of
the Issuer or the Guarantor, as the case may be, upon the certificate, statement
or opinion of or representations by an officer or officers of the Issuer or the
Guarantor, as the case may be, unless such counsel knows that the certificate,
statement or opinion or representations with respect to the matters upon which
his certificate, statement or opinion may be based as aforesaid are erroneous,
or in the exercise of reasonable care should know that the same are
erroneous.

        

        Any
certificate, statement or opinion of an officer of the Issuer, of the Guarantor
or of counsel may be based, insofar as it relates to accounting matters, upon a
certificate or opinion of or representations by an accountant or firm of
accountants in the employ of the Issuer or the Guarantor, unless such officer or
counsel, as the case may be, knows that the certificate or opinion or
representations with respect to the accounting matters upon which his
certificate, statement or opinion may be based as aforesaid are erroneous, or in
the exercise of reasonable care should know that the same are
erroneous.

        

        Any
certificate or opinion of any independent firm of public accountants filed with
and directed to the Trustee and/or the Securities Administrator shall contain a
statement that such firm is independent.

        

        Section
11.06. Payments Due on
Saturdays, Sundays or Holidays. If the date of maturity of interest on or
principal of the Securities of any series or the date fixed for redemption or
repayment of any such Security shall not be a Business Day, then payment of
interest or principal need not be made on such date, but may be made on the next
succeeding Business Day with the same force and effect as if made on the date of
maturity or the date fixed for redemption, and no interest shall accrue for the
period after such date.

        

        Section
11.07. Conflict of Any
Provision of Indenture with Trust Indenture Act of 1939. If and to the
extent that any provision of this Indenture limits, qualifies or conflicts with
the duties imposed by, or with another provision (an “incorporated provision”)
included in this Indenture by operation of, Sections 310 to 318, inclusive, of
the Trust Indenture Act of 1939, such imposed duties or incorporated provision
shall control.

        

        Section
11.08. New York Law to
Govern. This Indenture and each Security shall be deemed to be a contract
under the laws of the State of New York, and for all purposes shall be construed
in accordance with the laws of such State, except as may otherwise be required
by mandatory provisions of law.

         

        
          
             

          

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

        

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

        

        Section
11.11. Securities in a
Non-U.S. Currency. Unless otherwise specified in an Officers’ Certificate
delivered pursuant to Section 2.03 of this Indenture with respect to a
particular series of Securities, whenever for purposes of this Indenture any
action may be taken by the Holders of a specified percentage in aggregate
principal amount of Securities of all series or all series affected by a
particular action at the time Outstanding and, at such time, there are
Outstanding Securities of any series which are denominated in a coin or currency
other than Dollars, then the principal amount of Securities of such series which
shall be deemed to be Outstanding for the purpose of taking such action shall be
that amount of Dollars that could be obtained for such amount at the Market
Exchange Rate. For purposes of this Section 11.11, Market Exchange Rate shall
mean the noon Dollar buying rate in New York City for cable transfers of that
currency as published by the Federal Reserve Bank of New York. If such Market
Exchange Rate is not available for any reason with respect to such currency, the
Trustee shall use, in its sole discretion and without liability on its part,
such quotation of the Federal Reserve Bank of New York as of the most recent
available date, or quotations from one or more major banks in The City of New
York or in the country of issue of the currency in question, or such other
quotations as the Trustee shall deem appropriate. The provisions of this
paragraph shall apply in determining the equivalent principal amount in respect
of Securities of a series denominated in a currency other than Dollars in
connection with any action taken by Holders of Securities pursuant to the terms
of this Indenture including without limitation any determination contemplated in
Section 5.01(c) or 5.01(d).

        

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

        

        Section
11.12. Submission to
Jurisdiction. Each of the Issuer and the Guarantor agrees that any legal
suit, action or proceeding arising out of or based upon this Indenture may be
instituted in any State or Federal court in the Borough of Manhattan, City and
State of New York, and, to the fullest extent permitted by law, waives any
objection which it may now or hereafter have to the laying of venue of any such
proceeding, and irrevocably submits to the jurisdiction of such court in any
suit, action or proceeding. Each of the Issuer and the Guarantor has appointed
Herbert Biern, Esq., Chief Legal Officer and Executive Vice President, ABN AMRO
North America, Inc., as its authorized agent (the “Authorized

        

         

        
          
             

          

          
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        Agent”) upon which process may
be instituted in any State or Federal court in the Borough of Manhattan, City and
State of New York and each of the Issuer and the Guarantor expressly accepts the
jurisdiction of any such court in respect of such action. Such appointment shall
be irrevocable unless and until a successor authorized agent, located or with an
office in the Borough of Manhattan, City and State of New York, shall have been
appointed by the Issuer or the Guarantor, as the case may be, and such
appointment shall have been accepted by such successor authorized agent. Each of
the Issuer and the Guarantor represents and warrants that the Authorized Agent
has agreed to act as said agent for service of process, and each of the Issuer
and the Guarantor agrees to take any and all action, including the filing of any
and all documents and instruments, that may be necessary to continue such
appointment in full force and effect as aforesaid. Service of process upon the
Authorized Agent and written notice of such service to the Issuer or the
Guarantor, as the case may be, shall be deemed, in every respect, effective
service of process upon the Issuer or the Guarantor, as the case may
be.

        

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

         

        
          
             

          

          
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        Section
11.14. Waiver Of Jury
Trial. EACH OF THE ISSUER, GUARANTOR, SECURITIES ADMINISTRATOR AND THE
TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF
OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED
HEREBY.

         

        ARTICLE
12 

        REDEMPTION OF SECURITIES AND SINKING FUNDS

        

        Section
12.01. Applicability of
Article. The provisions of this Article shall be applicable to the
Securities of any series which are redeemable before their maturity or to any
sinking fund for the retirement of Securities of a series except as otherwise
specified as contemplated by Section 2.03 for Securities of such
series.

        

        Section
12.02. Notice of Redemption;
Partial Redemptions. Notice of redemption to the Holders of Registered
Securities of any series to be redeemed as a whole or in part at the option of
the Issuer shall be given by mailing notice of such redemption by first class
mail, postage prepaid, to such Holders of Securities of such series at their
last addresses as they shall appear upon the registry books at least 30 days and
not more than 60 days prior to the date fixed for redemption, or within such
other redemption notice period as has been designated for any Securities of such
series pursuant to Section 2.03 or 2.04 (the “Redemption Notice Period”).
Any notice which is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the Holder receives the notice.
Failure to give notice by mail, or any defect in the notice to the Holder of any
Security of a series designated for redemption as a whole or in part shall not
affect the validity of the proceedings for the redemption of any other Security
of such series.

        

        The
notice of redemption to each such Holder shall specify, the principal amount of
each Security of such series held by such Holder to be redeemed, the date fixed
for redemption, the redemption price (or if not then ascertainable, the manner
of calculation thereof), the place or places of payment, that payment will be
made upon presentation and surrender of such Securities maturing after the date
fixed for redemption, that such redemption is pursuant to the mandatory or
optional sinking fund, or both, if such be the case, that interest accrued to
the date fixed for redemption will be paid as specified in such notice and that
on and after said date interest thereon or on the portions thereof to be
redeemed will cease to accrue. In case any Security of a series is to be
redeemed in part only the notice of redemption shall state the portion of the
principal amount thereof to be redeemed and shall state that on and after the
date fixed for redemption, upon

         

        
          
             

          

          
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        surrender
of such Security, a new Security or Securities of such series in principal
amount equal to the unredeemed portion thereof will be issued.

        

        The
notice of redemption of Securities of any series to be redeemed at the option of
the Issuer shall be given by the Issuer or, at the Issuer’s request, by the
Securities Administrator in the name and at the expense of the
Issuer.

        

        On or
before the redemption date specified in the notice of redemption given as
provided in this Section, the Issuer or the Guarantor will deposit with the
Securities Administrator or with one or more paying agents (or, if the Issuer is
acting as its own paying agent or the Guarantor is acting as paying agent, set
aside, segregate and hold in trust as provided in Section 3.04) an amount of
money or other property sufficient to redeem on the redemption date all the
Securities of such series so called for redemption at the appropriate redemption
price, together with accrued interest to the date fixed for redemption. The
Issuer will deliver to the Trustee and the Securities Administrator at least 70
days prior to the date fixed for redemption or at least 10 days prior to the
first day of any applicable Redemption Notice Period an Officers’ Certificate
stating the aggregate principal amount of Securities to be redeemed. In case of
a redemption at the election of the Issuer prior to the expiration of any
restriction on such redemption, the Issuer shall deliver to the Trustee and the
Securities Administrator, prior to the giving of any notice of redemption to
Holders pursuant to this Section, an Officers’ Certificate stating that such
restriction has been complied with.

        

        If the
Issuer has elected to redeem less than all the Securities, the Securities
Administrator shall select the Securities to be redeemed by lot, on a pro rata
basis or in accordance with any other method the Securities Administrator
considers fair and appropriate. The Securities Administrator shall make such
selection from Securities then outstanding and not already to be redeemed by
virtue of having been previously called for redemption. The Securities
Administrator may select for redemption portions of the principal amount of
Securities that have denominations larger than $1,000 principal amount.
Securities and portions of them the Securities Administrator selects for
redemption shall be in amounts of $1,000 principal amount or integral multiples
of $1,000 principal amount. The Securities Administrator shall promptly notify
the Issuer in writing of the Securities selected for redemption and the
principal amount thereof to be redeemed.

        

        Section
12.03. Payment of Securities
Called for Redemption. If notice of redemption has been given as above
provided, the Securities or portions of Securities specified in such notice
shall become due and payable on the date and at the place stated in such notice
at the applicable redemption price, together with interest accrued to the date
fixed for redemption, and on and after said date (unless the Issuer and the
Guarantor shall default in the payment of such

        

         

        
          
             

          

          
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        Securities
at the redemption price, together with interest accrued to said date) interest
on the Securities or portions of Securities so called for redemption shall cease
to accrue, and, except as provided in Sections 6.05 and 10.04, such Securities
shall cease from and after the date fixed for redemption to be entitled to any
benefit or security under this Indenture, and the Holders thereof shall have no
right in respect of such Securities except the right to receive the redemption
price thereof and unpaid interest to the date fixed for redemption. On
presentation and surrender of such Securities at a place of payment specified in
said notice said Securities or the specified portions thereof shall be paid and
redeemed by the Issuer at the applicable redemption price, together with
interest accrued thereon to the date fixed for redemption; provided that payment of
interest becoming due on or prior to the date fixed for redemption shall be
payable to the Holders of such Securities registered as such on the relevant
record date subject to the terms and provisions of Sections 2.03 and 2.07
hereof.

        

        If any
Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal shall, until paid or duly provided for, bear interest
from the date fixed for redemption at the rate of interest or Yield to Maturity
(as determined by the Issuer in the case of an Original Issue Discount Security)
borne by such Security.

        

        Upon
presentation of any Security redeemed in part only, the Issuer shall execute and
the Securities Administrator, as authenticating agent and solely upon receipt of
an Issuer Order shall authenticate and deliver to or on the order of the Holder
thereof, at the expense of the Issuer, a new Security or Securities of such
series, of authorized denominations, in principal amount equal to the unredeemed
portion of the Security so presented.

        

        Section
12.04.  Exclusion of
Certain Securities From Eligibility for Selection for Redemption. 
Securities
shall be excluded from eligibility for selection for redemption if they are
identified by registration and certificate number in an Officers’ Certificate
delivered to the Trustee and the Securities Administrator at least 60 days prior
to the last date on which notice of redemption may be given as being owned of
record and beneficially by, and not pledged or hypothecated by either (a) the
Issuer or (b) an entity specifically identified in such written statement as
directly or indirectly controlling or controlled by or under direct or indirect
common control with the Issuer. For the avoidance of doubt, if only a portion of
a Security is intended to be excluded from eligibility for selection for
redemption, such Security must first be separated into separate certificates
such that the Securities that are intended to be so excluded from eligibility
for selection for redemption are evidenced by separate, and separately numbered,
certificates.

        

        Section
12.05. Mandatory and Optional
Sinking Funds. The minimum amount of any sinking fund payment provided
for by the terms of the Securities of any series is herein referred to as a
“mandatory sinking fund
payment”, and any payment in excess of such minimum amount provided for
by the terms of the Securities of any series is herein referred to as an “optional sinking fund payment”. The date on which a
sinking fund payment is to be made is herein referred to as the “sinking fund payment
date”.

         

        
          
             

          

          
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        In lieu
of making all or any part of any mandatory sinking fund payment with respect to
any series of Securities in cash, the Issuer may at its option (a) deliver to
the Securities Administrator Securities of such series theretofore purchased or
otherwise acquired (except upon redemption pursuant to the mandatory sinking
fund) by the Issuer or receive credit for Securities of such series (not
previously so credited) theretofore purchased or otherwise acquired (except as
aforesaid) by the Issuer and delivered to the Securities Administrator for
cancellation pursuant to Section 2.10, (b) receive credit for optional sinking
fund payments (not previously so credited) made pursuant to this Section, or (c)
receive credit for Securities of such series (not previously so credited)
redeemed by the Issuer through any optional redemption provision contained in
the terms of such series. Securities so delivered or credited shall be received
or credited by the Securities Administrator at the sinking fund redemption price
specified in such Securities.

        

        On or
before the 60th day next preceding each sinking fund payment date or the 30th
day next preceding the last day of any applicable Redemption Notice Period
relating to a sinking fund payment date for any series, the Issuer will deliver
to the Securities Administrator and the Trustee an Officers’ Certificate (which
need not contain the statements required by Section 11.05) (a) specifying the
portion of the mandatory sinking fund payment to be satisfied by payment of cash
and the portion to be satisfied by credit of Securities of such series and the
basis for such credit, (b) stating that none of the Securities of such series
has theretofore been so credited, (c) stating that no defaults in the payment of
interest or Events of Default with respect to such series have occurred (which
have not been waived or cured) and are continuing and (d) stating whether or not
the Issuer intends to exercise its right to make an optional sinking fund
payment with respect to such series and, if so, specifying the amount of such
optional sinking fund payment which the Issuer intends to pay on or before the
next succeeding sinking fund payment date. Any Securities of such series to be
credited and required to be delivered to the Securities Administrator in order
for the Issuer to be entitled to credit therefor as aforesaid which have not
theretofore been delivered to the Securities Administrator shall be delivered
for cancellation pursuant to Section 2.10 to the Securities Administrator with
such Officers’ Certificate. Such Officers’ Certificate shall be irrevocable and
upon the receipt thereof by the Trustee and the Issuer shall thereafter become
unconditionally obligated to make all the cash payments or payments therein
referred to, if any, on or before the next succeeding sinking fund payment date.
Failure of the Issuer, on or before any such 60th day or 30th day, if
applicable, to deliver such Officers’ Certificate and Securities specified in
this paragraph, if any, shall not constitute a default but shall constitute, on
and as of such date, the irrevocable election of the Issuer (i) that the
mandatory sinking fund payment for such series due on the next succeeding
sinking fund payment date shall be paid entirely in cash without the option to
deliver or credit Securities of such series in respect thereof and (ii) that the
Issuer will make no optional sinking fund payment with respect to such series as
provided in this Section.

        

        
          
             

          

          
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        If the
sinking fund payment or payments (mandatory or optional or both) to be made in
cash on the next succeeding sinking fund payment date plus any unused balance of
any preceding sinking fund payments made in cash shall exceed $50,000 or a
lesser sum in Dollars if the Issuer shall so request with respect to the
Securities of any particular series, such cash shall be applied on the next
succeeding sinking fund payment date to the redemption of Securities of such
series at the sinking fund redemption price together with accrued interest to
the date fixed for redemption. If such amount shall be $50,000 or less and the
Issuer makes no such request then it shall be carried over until a sum in excess
of $50,000 is available. The Securities Administrator shall select, in the
manner provided in Section 12.02, for redemption on such sinking fund payment
date a sufficient principal amount of Securities of such series to absorb said
cash, as nearly as may be, and shall (if requested in writing by the Issuer)
inform the Issuer of the serial numbers of the Securities of such series (or
portions thereof) so selected. Securities shall be excluded from eligibility for
redemption under this Section if they are identified by registration and
certificate number in an Officers’ Certificate delivered to the Securities
Administrator at least 60 days prior to the sinking fund payment date or at
least 30 days prior to the last day of any applicable Redemption Notice Period
relating to a sinking fund payment date as being owned of record and
beneficially by, and not pledged or hypothecated by either (a) the Issuer or (b)
an entity specifically identified in such Officers’ Certificate as directly or
indirectly controlling or controlled by or under direct or indirect common
control with the Issuer. The Issuer (or the Securities Administrator, at the
expense of the Issuer, if the Issuer shall so request the Securities
Administrator in writing) shall cause notice of redemption of the Securities of
such series to be given in substantially the manner provided in Section 12.02
(and with the effect provided in Section 12.03) for the redemption of Securities
of such series in part at the option of the Issuer. The amount of any sinking
fund payments not so applied or allocated to the redemption of Securities of
such series shall be added to the next cash sinking fund payment for such series
and, together with such payment, shall be applied in accordance with the
provisions of this Section. Any and all sinking fund monies held on the stated
maturity date of the Securities of any particular series (or earlier, if such
maturity is accelerated), which are not held for the payment or redemption of
particular Securities of such series shall be applied, together with other
monies, if necessary, sufficient for the purpose, to the payment of the
principal of, and interest on, the Securities of such series at
maturity.

        

        On or
before each sinking fund payment date, the Issuer or the Guarantor shall pay to
the Securities Administrator in cash or shall otherwise provide for the payment
of all interest accrued to the date fixed for redemption on Securities to be
redeemed on the next following sinking fund payment date.

        

        The
Securities Administrator shall not redeem or cause to be redeemed any Securities
of a series with sinking fund monies or give any notice of redemption of
Securities for such series by operation of the sinking fund during

        

         

        
          
             

          

          
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        the
continuance of a default in payment of interest on such Securities or of any
Event of Default of which a Responsible Officer of the Securities Administrator
shall have actual knowledge except that, where the giving of notice of
redemption of any Securities shall theretofore have been made, the Securities
Administrator shall redeem or cause to be redeemed such Securities, provided
that it shall have received from the Issuer or the Guarantor a sum sufficient
for such redemption. Except as aforesaid, any monies in the sinking fund for
such series at the time when any such default or Event of Default shall occur,
and any monies thereafter paid into the sinking fund, shall, during the
continuance of such default or Event of Default, be paid over to the Trustee and
held for the payment of all such Securities. In case such Event of Default shall
have been waived as provided in Section 5.10 or the default cured on or before
the sixtieth day preceding the sinking fund payment date in any year, such
monies shall thereafter be applied on the next succeeding sinking fund payment
date in accordance with this Section to the redemption of such
Securities.

        

        Section
12.06. Optional Redemption For
Tax Reasons. (a) Except to the extent otherwise specified for a
particular series of Securities, if the Issuer determines that it is obligated
to pay additional amounts pursuant to Section 3.07 as a result of any change in
or amendment to the laws affecting taxation (or any regulations or rulings
promulgated thereunder) of the relevant Taxing Jurisdiction after the date on
which the pricing terms relating to such series of Securities were determined
(the “Pricing Date”), or
any change in official position regarding the application or interpretation of
those laws, regulation or rulings, which change or amendment becomes effective
on or after the Pricing Date the Issuer may, on giving not more than 60 nor less
than 30 days’ notice to the Trustee and the Securities Administrator (but in no
event earlier than 60 days prior to the earliest date on which Issuer would be
obligated to pay any additional amounts pursuant to Section 3.07 if a payment in
respect of the securities were then due), redeem the Securities of any series
then outstanding at a redemption price equal to the principal amount of the
Securities redeemed (or if the Securities are Original Issue Discount
Securities, such portion of the principal as may be specified in the terms
thereof) together with accrued interest to the date fixed for redemption and any
applicable additional amounts payable pursuant to Section 3.07.

        

        (b) Prior
to the giving of any notice of redemption pursuant to this Section 12.06, the
Issuer shall deliver to the Trustee and the Securities Administrator: (i) a
certificate stating that it is entitled to effect the redemption and setting
forth a statement of facts showing that the conditions precedent to its rights
to so redeem as set forth in item (a) have occurred; and (ii) an opinion of
independent counsel reasonably satisfactory to the Trustee and the Securities
Administrator to the effect that Issuer is entitled to effect the redemption
based on the statement of facts set forth in the certificate described in item
(i).

        

         

        
          
             

          

          
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        ARTICLE
13 

        GUARANTEE AND INDEMNITY

        

        Section
13.01. The Guarantee.
The Guarantor hereby unconditionally guarantees to each Holder of a Security the
due and punctual payment of the principal of, any premium and interest on, and
any additional amounts with respect to such Security and the due and punctual
payment of the sinking fund payments (if any) provided for pursuant to the terms
of such Security, when and as the same shall become due and payable, whether at
maturity, by acceleration, redemption, repayment or otherwise, in accordance
with the terms of such Security and of this Indenture. In case of the failure of
the Issuer punctually to pay any such principal, premium, interest, additional
amounts or sinking fund payment, the Guarantor hereby agrees to cause any such
payment to be made punctually when and as the same shall become due and payable,
whether at maturity, upon acceleration, redemption, repayment or otherwise, and
as if such payment were made by the Issuer.

        

        Section
13.02. Net Payments.
All payments of principal of and premium, if any, interest and any other amounts
on, or in respect of, the Securities of any series shall be made by the
Guarantor without withholding or deduction at source for, or on account of, any
present or future taxes, fees, duties, assessments or governmental charges of
whatever nature imposed or levied by or on behalf of The Netherlands, or the
jurisdiction of residence or incorporation of any successor to the Guarantor, or
any political subdivision or taxing authority thereof or therein (the “Guarantor Taxing
Jurisdiction”), unless such taxes, fees, duties, assessments or
governmental charges are required to be withheld or deducted by (i) the laws (or
any regulations or ruling promulgated thereunder) of a Guarantor Taxing
Jurisdiction or (ii) an official position regarding the application,
administration, interpretation or enforcement of any such laws, regulations or
rulings (including, without limitation, a holding by a court of competent
jurisdiction or by a taxing authority in a Guarantor Taxing Jurisdiction). If a
withholding or deduction at source is required, the Guarantor shall, subject to
certain limitations and exceptions set forth below, pay to the Holder of any
such Security such additional amounts as may be necessary so that every net
payment of principal, premium, if any, interest or any other amount made to such
Holder, after such withholding or deduction, shall not be less than the amount
provided for in such Security and this Indenture to be then due and payable;
provided, however, that the Guarantor shall not be required to make payment of
such additional amounts for or on account of:

        

        (a) any
such tax, assessment or other governmental charge that would not have been so
imposed but for (i) the existence of any present or former connection between
such Holder (or between a fiduciary, settlor, beneficiary, member or
shareholder, if such Holder is an estate, a trust, a partnership or a
corporation) and The Netherlands and its possessions or any other Guarantor
Taxing Jurisdiction, including, without limitation, such Holder (or such
fiduciary, settlor, beneficiary, member or shareholder) being or having been a
citizen or

         

        
          
             

          

          
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        resident
thereof, being or having been engaged in a trade or business or present therein
or having, or having had, a permanent establishment therein or (ii) the
presentation, where presentation is required, by the Holder of a Security for
payment on a date more than 30 days after the date on which such payment became
due and payable or the date on which payment thereof is duly provided for,
whichever occurs later;

        

        (b)          any
capital gain, estate, inheritance, gift, sale, transfer, personal property or
similar tax, assessment or other governmental charge;

        

        (c)          any
tax assessment or other governmental charge that is payable otherwise than by
withholding from payments on or with respect to the Securities;

        

        (d)          any
tax assessment or other governmental charge that is imposed on a payment to an
individual and that is required to be made pursuant to European Council
Directive 2003/48/EC or any other directive implementing the conclusions of the
ECOFIN council meeting of November 26 – 27, 2000 on the taxation of savings
income, or any law implementing or complying with, or introduced in order to
conform to, such directives;

        

        (e)          any
tax assessment or other governmental charge required to be withheld by any
paying agent from any payment of principal or other amounts payable, or interest
on the Securities, to the extent that such payment can be made without such
withholding by presentation of the Securities to any other paying
agent;

        

        (f)          any
tax, assessment or other governmental charge that is imposed or withheld by
reason of the failure by the Holder or the beneficial owner of such Security to
comply with any reasonable request by the Issuer addressed to the Holder or, if
different, the direct nominee of a beneficiary of the payment, within 90 days of
such request (A) to provide information or certification concerning the
nationality, residence or identity of the Holder or such beneficial owner or (B)
to make any declaration or other similar claim or satisfy any information or
reporting requirement, which, in the case of (A) or (B), is required or imposed
by statute, treaty, regulation or administrative practice of the relevant
Guarantor Taxing Jurisdiction as a precondition to exemption from all or part of
such tax, assessment or other governmental charge; or

         

        (g)       
any
combination of items (a), (b), (c), (d), (e) and (f);

        

        nor shall
additional amounts be paid with respect to any payment of the principal of, or
premium, if any, interest or any other amounts on, any such Security to any
Holder who is a fiduciary, a partnership or any other Person, other than the
sole beneficial owner of such Security to the extent such payment would be
required by the laws of the relevant Guarantor Taxing Jurisdiction to be
included in the income for tax purposes of a beneficiary or partner or settlor
with respect to such fiduciary or a member of such partnership or a beneficial
owner who would not

         

        
          
             

          

          
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        have been
entitled to such additional amounts had it been the Holder of the
Security.

        

        Whenever
in this Indenture there is mentioned, in any context, the payment of the
principal of or any premium, interest or any other amounts on, or in respect of,
any Security of any series 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 provision hereof shall not be construed as excluding the
payment of additional amounts in those provisions hereof where such express
mention is not made.

        

        Except as
otherwise provided in or pursuant to this Indenture or the Securities of the
applicable series, at least 10 days prior to the first interest payment date
with respect to a series of Securities (or if the Securities of such series
shall not bear interest prior to Maturity, the first day on which a payment of
principal is made), and at least 10 days prior to each date of payment of
principal or interest if there has been any change with respect to the matters
set forth in the below-mentioned Guarantor’s Officer’s Certificate, the
Guarantor shall furnish to the Trustee, the Securities Administrator and the
principal paying agent, if other than the Securities Administrator, a
Guarantor’s Officer’s Certificate instructing the Trustee, the Securities
Administrator and such paying agent whether such payment of principal of and
premium, if any, interest or any other amounts on the Securities of such series
shall be made to Holders of Securities of such series without withholding for or
on account of any tax, fee, duty, assessment or other governmental charge
described in this Section 13.02. If any such withholding shall be required, then
such Guarantor’s Officer’s Certificate shall specify by Guarantor Taxing
Jurisdiction the amount, if any, required to be withheld on such payments to
such Holders of Securities, and the Guarantor agrees to pay to the Trustee, the
Securities Administrator or such paying agent the additional amounts required by
this Section 13.02. The Guarantor covenants to indemnify the Trustee, the
Securities Administrator 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 Guarantor’s Officer’s Certificate
furnished pursuant to this Section 13.02.

        

        Section
13.03. Guarantee
Unconditional, Etc. The Guarantor hereby agrees that its obligations
hereunder shall be as principal and not merely as surety, and shall be absolute,
irrevocable and unconditional, irrespective of, and shall be unaffected by, any
invalidity, irregularity or unenforceability of any Security or this Indenture,
any failure to enforce the provisions of any Security or this Indenture, or any
waiver, modification, consent or indulgence granted with respect thereto by the
Holder of such Security, the Securities Administrator or the

         

        
          
             

          

          
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        Trustee,
the recovery of any judgment against the Issuer or any action to enforce the
same, or any other circumstances which may otherwise constitute a legal or
equitable discharge of a surety or guarantor. The Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the
event of merger, insolvency or bankruptcy of the Issuer, any right to require a
proceeding first against the Issuer, protest or notice with respect to any such
Security or the Indebtedness evidenced thereby and all demands whatsoever, and
covenants that this Guarantee will not be discharged except by payment in full
of the principal of, any premium and interest on, and any additional amounts and
sinking fund payments required with respect to, the Securities and the complete
performance of all other obligations contained in the Securities. The Guarantor
further agrees, to the fullest extent that it lawfully may do so, that, as
between the Guarantor, on the one hand, and the Holders, the Securities
Administrator and the Trustee, on the other hand, the maturity of the
obligations guaranteed hereby may be accelerated as provided in Section 5.01
hereof for the purposes of this Guarantee, notwithstanding any stay, injunction
or prohibition extant under any bankruptcy, insolvency, reorganization or other
similar law of any jurisdiction preventing such acceleration in respect of the
obligations guaranteed hereby. 

        

        Section
13.04. Reinstatement.
This Guarantee shall continue to be effective or be reinstated, as the case may
be, if at any time payment on any Security, in whole or in part, is rescinded or
must otherwise be restored to the Issuer or the Guarantor upon the bankruptcy,
liquidation or reorganization of the Issuer or otherwise.

        

        Section
13.05. Subrogation. The
Guarantor shall be subrogated to all rights of the Holder of any Security
against the Issuer in respect of any amounts paid to such Holder by the
Guarantor pursuant to the provisions of this Guarantee; provided, however, that
the Guarantor shall not be entitled to enforce, or to receive any payments
arising out of or based upon, such right of subrogation until the principal of,
any premium and interest on, and any additional amounts and sinking fund
payments required with respect to, all Securities shall have been paid in
full.

        

        Section
13.06. Indemnity. As a
separate and alternative stipulation, the Guarantor unconditionally and
irrevocably agrees that any sum expressed to be payable by the Issuer under this
Indenture or the Securities but which is for any reason (whether or not now
known or becoming known to the Issuer, the Guarantor, the Trustee, the
Securities Administrator or any Holder of any Security) not recoverable from the
Guarantor on the basis of a guarantee will nevertheless be recoverable from it
as if it were the sole principal debtor and will be paid by it to the Trustee or
the Securities Administrator, as applicable, on demand. This indemnity
constitutes a separate and independent obligation from the other obligations in
this Indenture, gives rise to a separate and independent cause of action and
will apply irrespective of any indulgence granted by the Trustee or any Holder
of any Security.

         

        
          
             

          

          
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        Section
13.07. Assumption By
Guarantor. (a) The Guarantor may, without the consent of the Holders,
assume all of the rights and obligations of the Issuer hereunder with respect to
a series of Securities and under the Securities of such series if, after giving
effect to such assumption, no Event of Default or event which with the giving of
notice or lapse of time, or both, would become an Event of Default, shall have
occurred and be continuing. Upon such an assumption, the Guarantor shall execute
a supplemental indenture evidencing its assumption of all such rights and
obligations of the Issuer and the Issuer shall be released from its liabilities
hereunder and under such Securities as obligor on the Securities of such
Series.

        

        (b) The
Guarantor shall assume all of the rights and obligations of the Issuer hereunder
with respect to a series of Securities and under the Securities of such series
if, upon a default by the Issuer in the due and punctual payment of the
principal, sinking fund payment, if any, premium, if any, or interest on such
Securities, the Guarantor is prevented by any court order or judicial proceeding
from fulfilling its obligations under Section 13.01 with respect to such series
of Securities. Such assumption shall result in the Securities of such series
becoming the direct obligations of the Guarantor and shall be effected without
the consent of the Holders of the Securities of any Series. Upon such an
assumption, the Guarantor shall execute a supplemental indenture evidencing its
assumption of all such rights and obligations of the Issuer, and the Issuer
shall be released from its liabilities hereunder and under such Securities as
obligor on the Securities of such Series.

        

        [SIGNATURE
PAGE FOLLOWS]

         

        
          
             

          

          
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        IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, all as of September 15, 2006.

         

         

        
          
            	
                    ABN
      AMRO BANK N.V., as Issuer

                  	 
	 	 
	 	 
	
                    By:

                  	
                    /s/
      Laura Schisgall

                  	 
	 
      	
                    Name:
      Laura Schisgall

                  	 
	 
      	
                    Title:  
      Managing Director

                  	 

          

           

          
            	
                    By:

                  	
                    /s/
      Alexia Breuvart

                  	 
	 
      	
                    Name:
      Alexia Breuvart

                  	 
	 
      	
                    Title:  
      Vice President

                  	 

          

           

          
            	
                    ABN
      AMRO HOLDING N.V., as Guarantor

                  	 
	 	 
	 	 
	
                    By:

                  	
                    /s/
      Laura Schisgall

                  	 
	 
      	
                    Name:
      Laura Schisgall

                  	 
	 
      	
                    Title:  
      Managing Director

                  	 

          

           

          
            	
                    By:

                  	
                    /s/
      Alexia Breuvart

                  	 
	 
      	
                    Name:
      Alexia Breuvart

                  	 
	 
      	
                    Title:  
      Vice President

                  	 

          

           

          
            	
                    CITIBANK,
      N.A., as Securities 

                    Administrator

                  	 
	 	 
	 	 
	
                    By:

                  	
                    /s/
      Wafaa Orfy

                  	 
	 
      	
                    Name:
      Wafaa Orfy

                  	 
	 
      	
                    Title:   
      Vice President

                  	 

          

          

          
            	
                    WILMINGTON
      TRUST COMPANY, as 

                    Trustee

                  	 
	 	 
	 	 
	
                    By:

                  	
                    /s/
      James J. McGinley

                  	 
	 
      	
                    Name:
      James J. McGinley

                  	 
	 
      	
                    Title:  
      Authorized Signer

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