Document:

Exhibit 4.5

 

 

[FACE OF NOTE]

 

CUSIP NO.

 

 

REGISTERED

PRINCIPAL AMOUNT

No. FX –

 

JOHN
DEERE CAPITAL CORPORATION

SENIOR
MEDIUM-TERM NOTE, SERIES D

(FIXED
RATE)

 

 

Due
from 9 Months to 30 Years from Date of Issue

 

If the
registered owner of this Security (as indicated below) is The Depository Trust
Company (the “Depository”) or a nominee of the Depository, this Security
is a Global Security and the following two legends apply:

 

Unless this certificate is presented
by an authorized representative of The Depository Trust Company (55 Water
Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and such certificate issued is registered in the
name of CEDE & CO., or such other name as requested by an authorized
representative of the Depository, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, since the registered owner
hereof, CEDE & CO., has an interest herein.

 

Unless and until this certificate is
exchanged in whole or in part for Notes in certificated form, this certificate
may not be transferred except as a whole by the Depository to a nominee thereof
or by a nominee thereof to the Depository or another nominee of the Depository
or by the Depository or any such nominee to a successor of the Depository or a
nominee of such successor.

 

IF APPLICABLE, THE “TOTAL AMOUNT OF OID,” “YIELD TO MATURITY”
AND “INITIAL ACCRUAL PERIOD OID” (COMPUTED UNDER THE APPROXIMATE METHOD)
BELOW WILL BE COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE UNITED STATES
FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT (“OID”) RULES.

 

4

 

	
  ISSUE PRICE:

  	
   

  	
  OPTION TO ELECT REPAYMENT:   o YES   o NO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ORIGINAL ISSUE DATE:

  	
   

  	
  OPTIONAL REPAYMENT DATE[S]

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  STATED MATURITY DATE:

  	
   

  	
  MINIMUM DENOMINATIONS:

  	
   

  
	
   

  	
   

  	
  o $1,000

  	
   

  
	
  SPECIFIED CURRENCY:

  	
   

  	
  o Other:

  	
   

  
	
  U.S. Dollars:   o YES   o NO

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ADDITIONAL AMOUNTS:

  	
   

  
	
  FOREIGN CURRENCY:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  EXCHANGE RATE AGENT:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  OPTION TO RECEIVE PAYMENTS IN

  	
   

  	
   

  	
   

  
	
  SPECIFIED CURRENCY OTHER THAN

  	
   

  	
  DEFEASANCE:   o YES   o NO

  	
   

  
	
  U.S. DOLLARS:   o YES   o NO

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  COVENANT DEFEASANCE:   o YES   o NO

  	
   

  
	
  INTEREST RATE:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TOTAL AMOUNT OF OID:

  	
   

  
	
  DAY COUNT CONVENTION:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  YIELD TO MATURITY:

  	
   

  
	
  INTEREST PAYMENT DATES:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INITIAL ACCRUAL PERIOD OID:

  	
   

  
	
  REGULAR RECORD DATES IF OTHER THAN THE 15th
  

  	
   

  	
   

  	
   

  
	
  CALENDAR DAY PRECEDING THE INTEREST 

  	
   

  	
  OPTIONAL INTEREST RATE RESET DATES:

  	
   

  
	
  PAYMENT DATE:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  OTHER/DIFFERENT PROVISIONS:

  	
   

  
	
  OPTIONAL REDEMPTION:   o YES   o NO

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  INITIAL REDEMPTION DATE:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  INITIAL REDEMPTION PERCENTAGE:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL REDEMPTION PERCENTAGE REDUCTION:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SINKING FUND:

  	
   

  	
   

  	
   

  

 

 

5

 

 

JOHN
DEERE CAPITAL CORPORATION, a Delaware corporation (herein referred to as the “Company”,
which term includes any successor corporation under the Indenture hereinafter
referred to), for value received, hereby promises to pay to                                    ,
or registered assigns, the principal sum of
                          
in the Specified Currency on the Stated Maturity Date shown above (except to
the extent redeemed or repaid prior to the Stated Maturity Date) and to pay
interest, if any, thereon at the Interest Rate shown above from the Original
Issue Date shown above or from the most recent Interest Payment Date to which
interest, if any, has been paid or duly provided for, on the Interest Payment
Dates shown on the face hereof (each, an “Interest Payment Date”) until
the principal hereof is paid or made available for payment and on the Stated
Maturity Date, any Redemption Date or Repayment Date (such terms together are
hereinafter referred to as the “Maturity Date” with respect to the
principal repayable on such date); provided, however, that any
payment of principal (or premium, if any) or interest, if any, to be made on
any Interest Payment Date or on the Maturity Date that is not a Business Day
(as defined below) shall be made on the next succeeding Business Day with the
same force and effect as if made on such Interest Payment Date or the Maturity
Date, as the case may be, and no additional interest, if any, shall accrue on
the amount so payable as a result of such delayed payment.  For purposes of this Security, unless otherwise
specified on the face hereof, “Business Day” means any day, other than a
Saturday or Sunday, that is neither a legal holiday nor a day on which
commercial banks are authorized or required by law, regulation or executive
order to close in The City of New York; provided, however, that, if this
Security is denominated or payable in a Specified Currency, such day is also
not a day on which commercial banks are authorized or required by law,
regulation or executive order to close in the Principal Financial Center (as
defined below) of the country issuing the Specified Currency or, if the
Specified Currency is the euro, such day is also a day on which the
Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET)
System is open.  “Principal Financial
Center” means the capital city of the country issuing the Specified Currency,
except that with respect to U.S. dollars, Australian dollars, Canadian dollars,
New Zealand dollars, South African rand and Swiss francs, the “Principal
Financial Center” shall be The City of New York, Sydney, Toronto, Auckland,
Johannesburg and Zurich, respectively.

 

Any
interest hereon is accrued from, and including, the next preceding Interest
Payment Date in respect of which interest, if any, has been paid or duly
provided for (or from and including the Original Issue Date if no interest has
been paid) to, but excluding, the succeeding Interest Payment Date or the
Maturity Date, as the case may be.  The
interest, if any, so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in the Indenture (referred to on the
reverse hereof), be paid to the person (the “Holder”) in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on the 15th calendar day (whether or not a Business Day),
next preceding such Interest Payment Date (unless other Regular Record Dates
are specified on the face hereof) (each, a “Regular Record Date”); provided,
however, that, if this Security was issued between a Regular Record Date
and the initial Interest Payment Date relating to such Regular Record Date,
interest, if any, for the period beginning on the Original Issue Date and
ending on such initial Interest Payment Date shall be paid on the Interest
Payment Date following the next succeeding Regular Record Date to the Holder
hereof on such next succeeding Regular Record Date; and provided  further
that interest, if any, payable on the Maturity Date will be payable to the
person to whom the principal hereof shall be payable.  Any such interest not so punctually paid or
duly provided for on any Interest Payment Date other than the Maturity Date (“Defaulted
Interest”) will 

 

6

 

forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of
business on a special record date (the “Special Record Date”) for the
payment of such Defaulted Interest to be fixed by the Trustee (referred to on
the reverse hereof), notice whereof shall be given to the Holder of this
Security not less than ten days prior to such Special Record Date, or may be
paid at any time in any other lawful manner, all as more fully provided in the
Indenture.

 

Unless
otherwise specified above, all payments in respect of this Security will be
made in U.S. dollars regardless of the Specified Currency shown above unless
the Holder hereof makes the election described below.  If the Specified Currency shown above is
other than U.S. dollars, the Exchange Rate Agent (referred to on the reverse
hereof) will arrange to convert all payments in respect hereof into U.S.
dollars in the manner described on the reverse hereof; provided, however,
that the Holder hereof may, if so indicated above, elect to receive all or a
specified portion of any payment of principal, premium, if any, and/or interest
in such Specified Currency by delivery of a written request to the corporate
trust office of the Trustee in The City of New York on or prior to the
applicable Regular Record Date or at least fifteen calendar days prior to the
Maturity Date, as the case may be.  Such
request may be in writing (mailed or hand delivered) or by cable, telex or
other form of facsimile transmission.  The Holder hereof may elect to receive payment
in such Specified Currency for all principal, premium, if any, and interest, if
any, payments and need not file a separate election for each payment.  Such election will remain in effect until
revoked by written notice to the Trustee, but written notice of any such
revocation must be received by the Trustee on or prior to the applicable
Regular Record Date or at least fifteen calendar days prior to the Maturity
Date, as the case may be.

 

Notwithstanding
the foregoing, if the Specified Currency is other than U.S. dollars and the
Company determines that such Specified Currency is not available for making
payments in respect hereof due to the imposition of exchange controls or other
circumstances beyond the Company’s control, the Company will be entitled to
satisfy its obligations to the Holder hereof by making such payment in U.S.
dollars on the basis of the noon buying rate in The City of New York for cable
transfers of such Specified Currency as certified for customs purposes (or, if
not so certified, as otherwise determined) by the Federal Reserve Bank of New
York (the “Market Exchange Rate”) as computed by the Exchange Rate Agent
on the second Business Day prior to such payment or, if not then available, on
the basis of the most recently available Market Exchange Rate or as otherwise
indicated on the face hereof.  Any
payment made in U.S. dollars under such circumstances shall not constitute an
Event of Default (as defined in the Indenture).

 

In the
event of an official redenomination of the Specified Currency, the obligations
of the Company with respect to payments on this Security shall, in all cases,
be deemed, immediately following such redenomination, to provide for payment of
that amount of redenominated currency representing the amount of such
obligations immediately before such redenomination.  Except as set forth above, in no event shall
any adjustment be made to any amount payable hereunder as a result of any change
in the value of the Specified Currency shown above relative to any other
currency due solely to fluctuations in exchange rates.

 

 

7

 

Until
this Security is paid in full or payment therefor in full is duly provided for,
the Company will at all times maintain a Paying Agent (which Paying Agent may
be the Trustee) in The City of New York (which, unless otherwise specified
above, shall be the “Place of Payment”). 
The Company has initially appointed The Bank of New York (successor
trustee to The Chase Manhattan Bank), at its corporate trust office in The City
of New York, as Paying Agent.

 

If the
Specified Currency shown above is U.S. dollars or the Specified Currency shown
above is a Foreign Currency, and the Holder has not elected to exercise its option,
if any, to receive payments in such Specified Currency, (i) payment of
interest on this Security (other than on the Maturity Date) will be made in
U.S. dollars by check mailed to the registered address of the Holder hereof, or
at the Company’s option, by wire transfer to a bank account maintained by the
Holder and (ii) the principal of this Security, premium, if any, together
with the interest accrued and unpaid thereon, due at the Maturity Date shall be
paid in U.S. dollars in immediately available funds upon surrender of this
Security at the corporate trust office of the Trustee in The City of New York,
or, at the Company’s option, by wire transfer to such bank account of
immediately available funds in U.S. dollars to an account with a bank
designated at least fifteen calendar days prior to the Maturity Date by the
Holder hereof, provided such bank has appropriate facilities to make
such payments and this Security is presented and surrendered at the office or
agency designated by the Company for such purpose in the Borough of Manhattan,
The City of New York, in time for the Trustee to make such payments in such
funds in accordance with its normal procedures. 
If the Specified Currency shown above is a Foreign Currency and the
Holder is entitled to elect, and has elected, to receive payments in such
Specified Currency, (i) interest due on an Interest Payment Date other
than the Maturity Date will be paid by check in the Specified Currency mailed
to the registered address of the Holder hereof or, at our option, by wire
transfer in the Specified Currency to a bank account maintained by the Holder
in the country of the Specified Currency and (ii) the principal of,
premium, if any, and interest on this Security due on the Maturity Date will be
paid in the Specified Currency in immediately available funds upon surrender of
this Security at the corporate trust office of the Trustee in The City of New
York, or, at the Company’s option, by wire transfer to such bank account of
immediately available funds in the Specified Currency to an account with a bank
designated at least 15 calendar days prior to the Maturity Date by the Holder, provided,
in the case of (ii), the particular bank has appropriate facilities to make
these payments and this Security is presented and surrendered at the office or
agency maintained by the Company for this purpose in the Borough of Manhattan,
The City of New York, in time for the Trustee to make these payments in
accordance with its normal procedures. 
The Company will pay any administrative costs imposed by banks in making
payments in immediately available funds but, except as otherwise provided under
Additional Amounts above, any tax, assessment or governmental charge imposed
upon payments will be borne by the Holders of the Securities in respect of
which such payments are made.

 

Unless
otherwise specified on the face hereof, interest on this Security, if any, will
be computed on the basis of a 360-day year of 12 30-day months.

 

REFERENCE
IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET FORTH ON THE
REVERSE HEREOF, WHICH FURTHER 

 

8

 

PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT
AS IF SET FORTH AT THIS PLACE.

 

Unless
the certificate of authentication hereon has been executed by the Trustee by
manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

 

 

 

9

 

IN
WITNESS WHEREOF, the Company has caused this Fixed Rate Medium-Term Note, Series D,
Due from 9 Months to 30 Years from Date of Issue, to be duly executed under its
facsimile corporate seal.

 

	
   

  	
  JOHN DEERE CAPITAL
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  
	
   

  	
   

  	
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
  TRUSTEE’S CERTIFICATE
  OF AUTHENTICATION

  
	
   

  	
  This is one of the
  Securities of the series designated

  therein referred to in the within-mentioned

  Indenture

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK

  
	
   

  	
         as
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  
				

 

 

10

 

[REVERSE OF NOTE]

 

 

JOHN
DEERE CAPITAL CORPORATION

SENIOR
MEDIUM-TERM NOTE, SERIES D

 

Section 1.  General.  This Security is one of a duly authorized
issue of securities (herein called the “Securities”) of the Company,
issued and to be issued in one or more series under an indenture, dated as of March 15,
1997, as it may be supplemented from time to time (herein called the “Indenture”),
between the Company and The Bank of New York (successor trustee to The Chase Manhattan
Bank), Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture with respect to a series of which this
Security is a part), to which Indenture and all indentures supplemental
thereto, reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities, and of the terms upon which the
Securities are, and are to be, authenticated and delivered.  This Security is one of the series designated
on the face hereof which is unlimited in aggregate principal amount.

 

Section 2.  Payments.  If the Specified Currency is other than U.S.
dollars and the Holder hereof fails to elect payment in such Specified
Currency, the amount of U.S. dollar payments to be made in respect hereof will
be determined by the Exchange Rate Agent specified on the face hereof or a
successor thereto (the “Exchange Rate Agent”) based on the highest bid
quotation in The City of New York at approximately 11:00 A.M., New York
City time, on the second Business Day preceding the applicable payment date
from three recognized foreign exchange dealers (one of whom may be the Exchange
Rate Agent) selected by the Exchange Rate Agent and approved by the Company for
the purchase by the quoting dealer of the Specified Currency for U.S. dollars
for settlement on such payment date in the aggregate amount of the Specified
Currency payable to all Holders of Securities denominated in a Foreign Currency
scheduled to receive U.S. dollar payments and at which the applicable dealer
commits to execute a contract.  If three
such bid quotations are not available, payments will be made in the Specified
Currency.  All currency exchange costs
will be borne by the Holder of the Security by deductions from such payments.

 

All
determinations referred to above made by the Exchange Rate Agent will be at its
sole discretion (except to the extent expressly provided that any determination
is subject to approval by the Company) and, in the absence of manifest error,
will be conclusive for all purposes and binding on the Holder of this Security,
and the Exchange Rate Agent will have no liability therefor.

 

All
currency exchange costs will be borne by the Company unless the Holder of this
Security has made the election to receive payments in the Specified
Currency.  In that case, the Holder shall
bear its pro rata portion of currency exchange costs, if any, by deductions
from payments otherwise due to such Holder.

 

References
herein to “U.S. dollars” or “U.S. $” or “$” are to the
currency of the United States of America.

 

 

11

 

Section 3.  Redemption.  If so specified on the face hereof, the
Company may at its option redeem this Security in whole or from time to time in
part in increments of $1,000 (provided that any remaining principal amount of
this Security shall not be less than the Minimum Denomination specified on the
face hereof) on or after the date designated as the Initial Redemption Date on
the face hereof at 100% of the unpaid principal amount hereof or the portion
thereof redeemed (or, if this Security is a Discount Security, such lesser
amount as is provided for below) multiplied by the Initial Redemption
Percentage specified on the face hereof, together with accrued interest, if
any, to the Redemption Date.  Such
Initial Redemption Percentage shall decline at each anniversary of the Initial
Redemption Date by an amount equal to the Annual Redemption Percentage Reduction,
if any, specified on the face hereof, until the redemption price is 100% of the
unpaid principal amount hereof.  The
Company may exercise such option by causing the Trustee to mail a notice of
such redemption at least 30 but not more than 60 days prior to the Redemption
Date.  In the event of redemption of this
Security in part only, a new Security or Securities for the unredeemed portion
hereof shall be issued in the name of the Holder hereof upon the cancellation
hereof.  If less than all of the Securities
with like tenor and terms to this Security are to be redeemed, the Securities
to be redeemed shall be selected by the Trustee by such method as the Trustee
shall deem fair and appropriate. 
However, if less than all the Securities of the series, of which this
Security is a part, with differing issue dates, interest rates or formula and
stated maturities are to be redeemed, the Company in its sole discretion shall
select the particular Securities to be redeemed and shall notify the Trustee in
writing thereof at least 45 days prior to the relevant Redemption Date.

 

Section 4.  Repayment.  If so specified on the face hereof, this
Security shall be repayable prior to the Stated Maturity Date at the option of
the Holder on each applicable Optional Repayment Date shown on the face hereof
at a repayment price equal to 100% of the principal amount to be repaid,
together with accrued interest, if any, to the Repayment Date.  In order for this Security to be repaid, the
Trustee must receive, at least 30 but not more than 60 days prior to an
Optional Repayment Date, this Security with the form attached hereto entitled “Option
to Elect Repayment” duly completed.  Any
tender of this Security for repayment shall be irrevocable.  The repayment option may be exercised by the
Holder of this Security in whole or in part in increments of $1,000 (provided
that any remaining principal amount of this Security shall not be less than the
Minimum Denomination specified on the face hereof).  Upon any partial repayment, this Security
shall be cancelled and a new Security or Securities for the remaining principal
amount hereof shall be issued in the name of the Holder of this Security.

 

Section 5.  Sinking Fund.  Unless otherwise specified on the face
hereof, this Security will not be subject to any sinking fund.

 

Section 6.  Discount Securities.  If this Security (such a Security being
referred to as a “Discount Security”) (a) has been issued at an
Issue Price lower, by more than a de  minimis amount (as
determined under United States federal income tax rules applicable to
original issue discount instruments), than the principal amount hereof and (b) would
be considered an original issue discount security for United States federal
income tax purposes, then the amount payable on this Security in the event of
redemption by the Company, repayment at the option of the Holder or
acceleration of the maturity hereof, in lieu of the principal amount due at the
Stated Maturity Date hereof, shall be the Amortized Face Amount (as defined
below) of this Security as of the date of such redemption, repayment or
acceleration.  The “Amortized Face
Amount” of 

 

12

 

this Security shall be the amount equal to the sum of (a) the
Issue Price (as set forth on the face hereof) plus (b) the aggregate of
the portions of the original issue discount (the excess of the amounts
considered as part of the “stated redemption price at maturity” of this
Security within the meaning of Section 1273(a)(2) of the Internal
Revenue Code of 1986, as amended (the “Code”), whether denominated as
principal or interest, over the Issue Price of this Security) which shall
theretofore have accrued pursuant to Section 1272 of the Code (without
regard to Section 1272(a)(7) of the Code) from the date of issue of
this Security to the date of determination, minus (c) any amount
considered as part of the “stated redemption price at maturity” of this
Security which has been paid on this Security from the date of issue to the
date of determination.

 

Section 7.  Modification and Waivers; Obligation of
the Company Absolute.  The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of
the Holders of the Securities of each series. 
Such amendment may be effected under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of not less than a
majority in principal amount of the Outstanding Securities affected thereby.  The Indenture also contains provisions
permitting the Holders of not less than a majority in principal amount of the
Outstanding Securities at the time, on behalf of the Holders of all Outstanding
Securities, to waive compliance by the Company with certain provisions of the
Indenture.  Provisions in the Indenture
also permit the Holders of not less than a majority in principal amount of all
Outstanding Securities of any series to waive on behalf of all of the Holders
of Securities of such series certain past defaults under the Indenture and
their consequences.  Any such consent or
waiver shall be conclusive and binding upon the Holder of this Security and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

The
Securities are unsecured and rank pari  passu with all other
unsecured and unsubordinated indebtedness of the Company.

 

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

 

Section 8.  Defeasance and Covenant Defeasance.  The Indenture contains provisions for
defeasance at any time of (a) the entire indebtedness of the Company on
this Security and (b) certain restrictive covenants and the related
defaults and Events of Default, upon compliance by the Company with certain
conditions set forth therein, which provisions apply to this Security, unless
otherwise specified on the face hereof.

 

Section 9.  Minimum Denominations.  Unless otherwise provided on the face hereof,
this Security is issuable only in registered form without coupons in
denominations of $1,000 or any amount in excess thereof which is an integral
multiple of $1,000.  If this Security is
denominated in a Specified Currency other than U.S. dollars or is a Discount
Security, this Security shall be issuable in the denominations set forth on the
face hereof.

 

 

13

 

Section 10.  Registration of Transfer.  As provided in the Indenture and subject to
certain limitations herein and therein set forth, the transfer of this Security
is registrable in the Security Register upon surrender of this Security for
registration of transfer at the office or Place of Payment for the series of
Securities of which this Security forms a part, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities of this
series, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

If the
registered owner of this Security is the Depository (such a Security being
referred to as a “Global Security”), and (i) the Depository is at
any time unwilling or unable to continue as depository and a successor
depository is not appointed by the Company within 60 days after notice to
the Company, or (ii) an Event of Default occurs, the Company will issue
Securities in certificated form in exchange for this Global Security.  In addition, the Company may at any time, and
in its sole discretion, determine not to have Securities represented by a
Global Security and, in such event, will issue Securities in certificated form
in exchange in whole for this Global Security. 
In any such instance, an owner of a beneficial interest in this Global
Security will be entitled to physical delivery of Securities in certificated
form equal in principal amount to such beneficial interest and to have such
Securities registered in its name. 
Securities so issued in certificated form will be issued in denominations
of $1,000 (or such other Minimum Denomination specified on the face hereof by
the Company) or any amount in excess thereof which is an integral multiple of
$1,000 (or such Minimum Denomination) and will be issued in registered form
only, without coupons.

 

No
service charge shall be made for any such registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

 

Prior
to due presentment of this Security for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Holder as
the owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Trustee nor any such agent shall be affected by notice
to the contrary.

 

Section 11.  Events of Default.  If an Event of Default with respect to the
Securities of the series of which this Security forms a part shall have
occurred and be continuing, the principal of this Security may be declared due
and payable in the manner and with the effect provided in the Indenture.

 

Section 12.  Defined Terms.  All terms used in this Security which are
defined in the Indenture and are not otherwise defined herein shall have the
meanings assigned to them in the Indenture.

 

Section 13.  Governing Law.  This Security shall be governed by and
construed in accordance with the law of the State of New York.

 

 

14

 

OPTION TO ELECT
REPAYMENT

 

The
undersigned hereby irrevocably requests and instructs the Company to repay this
Security (or the portion thereof specified below), pursuant to its terms, on
the Optional Repayment Date first occurring after the date of receipt of the
within Security as specified below (the “Repayment Date”), at a Repayment
Price equal to 100% of the principal amount thereof, together with interest
thereon accrued to the Repayment Date, to the undersigned at:

 

	
   

  
	
  

  
	
  (Please
  Print or Type Name and Address of the Undersigned.)

  

 

For this Option to Elect Repayment to be effective, this Security with
the Option to Elect Repayment duly completed must be received at least
30 but not more than 60 days prior to the Repayment Date (or, if such
Repayment Date is not a Business Day, the next succeeding Business Day) by the
Company at its office or agency in The City of New York, which will be located
initially at the office of the Trustee at 101 Barclay Street - Fl. 8W, New York, NY 10286.

 

If
less than the entire principal amount of this Security is to be repaid, specify
the portion thereof (which shall be $1,000 or an integral multiple thereof)
which is to be repaid:  $               .

 

If
less than the entire principal amount of this Security is to be repaid, specify
the denomination(s) of the Security(ies) to be issued for the unpaid
amount ($1,000 or any integral multiple of $1,000; provided that any remaining
principal amount of this Security shall not be less than the Minimum
Denomination):  $               .

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Note: The signature to this Option to Elect
  Repayment must correspond with the name as written upon the face of this
  Security in every particular without alterations or enlargement or any change
  whatsoever.

  

 

15

 

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

 

	
  TEN COM

  	
  -

  	
  as tenants in common

  
	
  TEN ENT

  	
  -

  	
  as tenants by the entireties

  
	
  JT TEN

  	
  -

  	
  as joint tenants with right of survivorship and not
  as tenants in common

  
	
   

  
	
  UNIF GIFT MIN ACT -

  	
   

  	
  Custodian

  	
   

  	
   

  
	
   

  	
  (Cust.)

  	
   

  	
  (Minor)

  	
   

  
	
  Under Uniform
  Gifts to Minors Act

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (State)

  	
   

  
									

 

Additional abbreviations may also be used though not in the above list.

 

 

FOR VALUE RECEIVED, the undersigned

hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Please print or type
  name and address, including zip code of assignee

  

 

	
   

  

the within Security of JOHN DEERE CAPITAL CORPORATION and all rights
thereunder and does hereby irrevocably constitute and appoint
                                                                  
                                                                              
Attorney to transfer the said Security on the books of the within-named
Company, with full power of substitution in the premises.

 

	
  Dated:

  	
   

  	
   

  

 

	
  SIGNATURE GUARANTEED:

  	
   

  	
   

  

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NOTICE:  The
  signature to this assignment must correspond with the name as it appears upon
  the face of the within Security in every particular, without alteration or
  enlargement or any change whatsoever.

  

 

 

16Exhibit 4.6

 

 

[FACE OF NOTE]

 

CUSIP NO.

 

REGISTERED

PRINCIPAL AMOUNT

No. FL -

 

JOHN DEERE CAPITAL CORPORATION

SENIOR MEDIUM-TERM NOTE, SERIES D

(FLOATING RATE)

 

Due from 9 Months to 30 Years from
Date of Issue

 

If the
registered owner of this Security (as indicated below) is The Depository Trust
Company (the “Depository”) or a nominee of the Depository, this Security
is a Global Security and the following two legends apply:

 

Unless this certificate is presented
by an authorized representative of The Depository Trust Company (55 Water
Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and such certificate issued is registered in the
name of CEDE & CO., or such other name as requested by an authorized
representative of the Depository, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, since the registered owner
hereof, CEDE & CO., has an interest herein.

 

Unless and until this certificate is
exchanged in whole or in part for Notes in certificated form, this certificate
may not be transferred except as a whole by the Depository to a nominee thereof
or by a nominee thereof to the Depository or another nominee of the Depository
or by the Depository or any such nominee to a successor of the Depository or a
nominee of such successor.

 

IF APPLICABLE, THE “TOTAL AMOUNT OF OID”, “YIELD TO MATURITY”
AND “INITIAL ACCRUAL PERIOD OID” (COMPUTED UNDER THE APPROXIMATE METHOD)
BELOW WILL BE COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE UNITED STATES
FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT (“OID”) RULES.

 

17

 

	
  ISSUE PRICE:

  	
  OPTIONAL INTEREST RATE:

  
	
   

  	
   

  	
  Reset: o Yes o No

  
	
  ORIGINAL ISSUE DATE:

  	
   

  
	
   

  	
   

  	
  OPTIONAL INTEREST RATE:

  
	
  STATED MATURITY DATE:

  	
  Reset Date:

  
	
   

  	
   

  	
   

  
	
  INITIAL INTEREST RATE:

  	
  OPTION TO ELECT REPAYMENT: o YES o NO

  
	
   

  	
   

  	
   

  
	
  BASE RATE:

  	
  OPTIONAL REPAYMENT DATE[S]:

  
	
  If
  LIBOR, LIBOR Currency:

  	
   

  
	
   

  	
   

  	
  OPTIONAL REDEMPTION: o YES o NO

  
	
  If
  CMT Rate:

  	
  o Reuters Page FRBCMT

  	
   

  
	
   

  	
  o Reuters Page FEDCMT

  	
  INITIAL REDEMPTION DATE:

  
	
   

  	
  o Weekly Average

  	
   

  
	
   

  	
  o Monthly Average

  	
  INITIAL REDEMPTION PERCENTAGE:

  
	
   

  	
   

  	
   

  
	
  If
  Federal Funds Rate:

  	
  o (Effective) Rate

  	
  ANNUAL REDEMPTION PERCENTAGE REDUCTION:

  
	
   

  	
  o Open Rate

  	
   

  
	
   

  	
  o Target Rate

  	
  MINIMUM DENOMINATION:

  
	
   

  	
   

  	
  o $1,000

  
	
  INDEX MATURITY:

  	
  o Other:

  
	
   

  	
   

  	
   

  
	
  SPREAD (PLUS OR MINUS):

  	
  SPECIFIED CURRENCY:

  
	
   

  	
   

  	
  United States Dollars: o YES o NO

  
	
  SPREAD MULTIPLIER:

  	
  FOREIGN CURRENCY:

  
	
   

  	
   

  	
   

  
	
  CALCULATION AGENT:

  	
  OPTION TO RECEIVE PAYMENTS

  
	
   

  	
   

  	
  IN SPECIFIED CURRENCY

  
	
  CALCULATION DATE:

  	
  OTHER THAN U.S. DOLLARS:

  
	
   

  	
   

  	
  o YES o NO

  
	
  SINKING FUND:

  	
   

  
	
   

  	
   

  	
  EXCHANGE RATE AGENT:

  
	
  MAXIMUM INTEREST RATE:

  	
   

  
	
   

  	
   

  	
  REFERENCE BANKS:

  
	
  MINIMUM INTEREST RATE:

  	
   

  
	
   

  	
   

  	
  ADDITIONAL AMOUNTS:

  
	
  DAY COUNT CONVENTION:

  	
   

  
	
   

  	
   

  	
  DEFEASANCE: o YES o NO

  
	
  INTEREST DETERMINATION DATE:

  	
   

  
	
   

  	
   

  	
  COVENANT DEFEASANCE: o YES o NO

  
	
  INTEREST RESET PERIOD:

  	
   

  
	
   

  	
   

  	
  OTHER/DIFFERENT PROVISIONS:

  
	
  INTEREST RESET DATES:

  	
   

  
	
   

  	
   

  	
  REGULAR RECORD DATE IF OTHER THAN

  
	
  INTEREST PAYMENT PERIOD:

  	
  15th CALENDAR DAY PRECEDING THE
  INTEREST

  
	
   

  	
   

  	
  PAYMENT DATE:

  
	
  INTEREST PAYMENT DATES:

  	
   

  
	
   

  	
   

  	
   

  
	
  TOTAL AMOUNT OF OID:

  	
   

  
	
   

  	
   

  	
   

  
	
  INITIAL ACCRUAL PERIOD OID:

  	
   

  
	
   

  	
   

  	
   

  
	
  YIELD TO MATURITY:

  	
   

  
				

 

18

 

JOHN
DEERE CAPITAL CORPORATION, a Delaware corporation (herein referred to as the “Company”,
which term includes any successor corporation under the Indenture hereinafter
referred to), for value received, hereby promises to pay to                   ,
or registered assigns, the principal sum of
                  
in the Specified Currency on the Stated Maturity Date shown above (except to
the extent redeemed or repaid prior to the Stated Maturity Date) and to pay
interest thereon at the Initial Interest Rate shown above from the Original
Issue Date shown above until the first Interest Reset Date shown above
following the Original Issue Date (if the first Interest Reset Date is later
than the Original Issue Date) and thereafter at the interest rate determined by
reference to the Base Rate shown above, plus or minus the Spread, if any, or
multiplied by the Spread Multiplier, if any, shown above, or determined by
reference to such other formula or adjusted in such other manner, in each case
calculated in accordance with the provisions on the reverse hereof, until the
principal hereof is paid or duly made available for payment.  The Company will pay interest on each
Interest Payment Date, if any, specified above, commencing with the first
Interest Payment Date next succeeding the Original Issue Date, and on the
Stated Maturity Date, any Redemption Date or Repayment Date (such terms together
are hereinafter referred to as the “Maturity Date” with respect to the
principal repayable on such date); provided, however, that any
payment of principal (or premium, if any) or interest, if any, to be made on
any Interest Payment Date or on the Maturity Date that is not a Business Day
(as defined below) shall be made on the next succeeding Business Day (except
that if the Base Rate specified above is LIBOR or EURIBOR, and such day falls
in the next succeeding calendar month, such payment will be made on the next
preceding Business Day) as described on the reverse hereof.  For purposes of this Security unless
otherwise specified on the face hereof, “Business Day” means any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on
which commercial banks are authorized or required by law, regulation or
executive order to close in The City of New York; provided, however,
that, if this Security is denominated or payable in a Specified Currency, such
day is also not a day on which commercial banks are authorized or required by
law, regulation or executive order to close in the Principal Financial Center
(as defined below) of the country issuing the Specified Currency or, if the
Specified Currency is the euro, such day is also a day on which the
Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET)
System is open (“TARGET Business Day”); provided  further that, if
the Base Rate specified above is LIBOR, such day is also a London Business
Day.  “London Business Day” means
a day on which commercial banks are open for business (including dealings in
the LIBOR Currency) in London.  “Principal
Financial Center” means (i) the capital city of the country issuing
the Specified Currency or (ii)  the capital city of the country to which
the LIBOR Currency specified above relates, as applicable, except, in the case
of (i)  or (ii) above, that with respect to U.S. dollars, Australian
dollars, Canadian dollars, New Zealand dollars, South African rand and Swiss
francs, the “Principal Financial Center” shall be The City of New York,
Sydney, Toronto, Auckland, Johannesburg and Zurich, respectively, and in the
event the LIBOR Currency is euro, the “Principal Financial Center” shall
be London.

 

Any
interest hereon is accrued from, and including, the next preceding Interest
Payment Date in respect of which interest, if any, has been paid or duly
provided for (or from and including the Original Issue Date if no interest has
been paid or duly provided for) to, but excluding, the succeeding Interest
Payment Date or the Maturity Date, as the case may be (each an “Interest
Period”). The interest, if any, so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in the Indenture
(referred to on the reverse hereof), be paid to the person (the “Holder”)
in whose name this Security (or one or more Predecessor Securities) is 

 

19

 

registered at the close of business on the fifteenth
calendar day (whether or not a Business Day) next preceding such Interest
Payment Date (unless other Regular Record Dates are specified on the face
hereof) (each a “Regular Record Date”); provided, however,
that, if this Security was issued between a Regular Record Date and the initial
Interest Payment Date relating to such Regular Record Date, interest, if any,
for the period beginning on the Original Issue Date and ending on such initial
Interest Payment Date shall be paid on the Interest Payment Date following the
next succeeding Regular Record Date to the Holder hereof on such next
succeeding Regular Record Date; and provided  further that
interest, if any, payable on the Maturity Date will be payable to the person to
whom the principal hereof shall be payable. 
Any such interest not so punctually paid or duly provided for on any
Interest Payment Date other than the Maturity Date (“Defaulted Interest”)
will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a
special record date (the “Special Record Date”) for the payment of such
Defaulted Interest to be fixed by the Trustee (referred to on the reverse
hereof), notice whereof shall be given to the Holder of this Security not less
than ten days prior to such Special Record Date, or may be paid at any time in
any other lawful manner, all as more fully provided in the Indenture.

 

Unless
otherwise specified above, all payments in respect of this Security will be
made in U.S. dollars regardless of the Specified Currency shown above unless
the Holder hereof makes the election described below.  If the Specified Currency shown above is other
than U.S. dollars, the Exchange Rate Agent (referred to on the reverse hereof)
will arrange to convert all payments in respect hereof into U.S. dollars in the
manner described on the reverse hereof; provided, however, that
the Holder hereof may, if so indicated above, elect to receive all or a
specified portion of any payment of principal, premium, if any, and/or interest
in such Specified Currency by delivery of a written request to the corporate
trust office of the Trustee in The City of New York on or prior to the
applicable Regular Record Date or at least fifteen calendar days prior to the
Maturity Date, as the case may be.  Such
request may be in writing (mailed or hand delivered) or by cable, telex or
other form of facsimile transmission. 
The Holder hereof may elect to receive payment in such Specified
Currency for all principal, premium, if any, and interest, if any, payments and
need not file a separate election for each payment.  Such election will remain in effect until
revoked by written notice to the Trustee, but written notice of any such
revocation must be received by the Trustee on or prior to the applicable
Regular Record Date or at least fifteen calendar days prior to the Maturity
Date, as the case may be.

 

Notwithstanding
the foregoing, if the Specified Currency is other than U.S. dollars and the
Company determines that such Specified Currency is not available for making
payments in respect hereof due to the imposition of exchange controls or other
circumstances beyond the Company’s control, the Company will be entitled to
satisfy its obligations to the Holder hereof by making such payment in U.S.
dollars on the basis of the noon buying rate in The City of New York for cable
transfers of such Specified Currency as certified for customs purposes (or, if
not so certified as otherwise determined) by the Federal Reserve Bank of New
York (the “Market Exchange Rate”) as computed by the Exchange Rate Agent
on the second Business Day prior to such payment or, if not then available, on
the basis of the most recently available Market Exchange Rate or as otherwise
indicated on the face hereof.  Any
payment made in U.S. dollars under such circumstances shall not constitute an
Event of Default (as defined in the Indenture).

 

20

 

In the
event of an official redenomination of the Specified Currency, the obligations
of the Company with respect to payments on this Security shall, in all cases,
be deemed, immediately following such redenomination, to provide for payment of
that amount of redenominated currency representing the amount of such
obligations immediately before such redenomination.  Except as set forth above, in no event shall
any adjustment be made to any amount payable hereunder as a result of any change
in the value of the Specified Currency shown above relative to any other
currency due solely to fluctuations in exchange rates.

 

Until
this Security is paid in full or payment therefor in full is duly provided for,
the Company will at all times maintain a Paying Agent (which Paying Agent may be
the Trustee) in The City of New York (which, unless otherwise specified above,
shall be the “Place of Payment”). 
The Company has initially appointed The Bank of New York (successor
trustee to The Chase Manhattan Bank), at its corporate trust office in The City
of New York as Paying Agent.

 

If the
Specified Currency shown above is U.S. dollars or the Specified Currency shown
above is a Foreign Currency, and the Holder has not elected to exercise its
option, if any, to receive payments in such Specified Currency, (i) payment
of interest on this Security (other than on the Maturity Date) will be made in
U.S. dollars by check mailed to the registered address of the Holder hereof, or
at the Company’s option, by wire transfer to a bank account maintained by the
Holder and (ii) the principal of this Security, premium, if any, together
with the interest accrued and unpaid thereon, due at the Maturity Date shall be
paid in U.S. dollars in immediately available funds upon surrender of this
Security at the corporate trust office of the Trustee in The City of New York,
or, at the Company’s option, by wire transfer to such bank account of
immediately available funds in U.S. dollars to an account with a bank
designated at least fifteen calendar days prior to the Maturity Date by the
Holder hereof, provided such bank has appropriate facilities to make
such payments and this Security is presented and surrendered at the office or
agency designated by the Company for such purpose in the Borough of Manhattan,
The City of New York, in time for the Trustee to make such payments in such
funds in accordance with its normal procedures. 
If the Specified Currency shown above is a Foreign Currency and the
Holder is entitled to elect, and has elected, to receive payments in such Specified
Currency, (i) interest due on an Interest Payment Date other than the
Maturity Date will be paid by check in the Specified Currency mailed to the
registered address of the Holder hereof or, at our option, by wire transfer in
the Specified Currency to a bank account maintained by the Holder in the
country of the Specified Currency and (ii) the principal of, premium, if
any, and interest on this Security due on the Maturity Date will be paid in the
Specified Currency in immediately available funds upon surrender of this
Security at the corporate trust office of the Trustee in The City of New York,
or, at the Company’s option, by wire transfer to such bank account of
immediately available funds in the Specified Currency to an account with a bank
designated at least 15 calendar days prior to the Maturity Date by the Holder, provided,
in the case of (ii), the particular bank has appropriate facilities to make
these payments and this Security is presented and surrendered at the office or
agency maintained by the Company for this purpose in the Borough of Manhattan,
The City of New York, in time for the Trustee to make these payments in
accordance with its normal procedures. 
The Company will pay any administrative costs imposed by banks in making
payments in immediately available funds but, except as otherwise provided under
Additional Amounts above, any tax, assessment or governmental charge imposed
upon payments will be borne by the Holders of the Securities in respect of
which such payments are made.

 

21

 

REFERENCE
IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET FORTH ON THE
REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME
EFFECT AS IF SET FORTH AT THIS PLACE.

 

Unless
the certificate of authentication hereon has been executed by the Trustee by
manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

 

22

 

IN
WITNESS WHEREOF, the Company has caused this Floating Rate Medium-Term Note, Series D,
Due from 9 Months to 30 Years from Date of Issue to be duly executed under its
facsimile corporate seal.

 

	
   

  	
  JOHN DEERE CAPITAL CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  
	
   

  	
   

  	
  Secretary

  
	
  Dated:

  	
  TRUSTEE’S CERTIFICATE OF AUTHENTICATION

  
	
   

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

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Officer

  
				

 

23

 

[REVERSE OF NOTE]

 

JOHN DEERE CAPITAL CORPORATION

SENIOR MEDIUM-TERM NOTE, SERIES D

 

Section 1.  General.  This Security is one of a duly authorized
issue of securities (herein called the “Securities”) of the Company,
issued and to be issued in one or more series under an indenture, dated as of March 15,
1997, as it may be supplemented from time to time (herein called the “Indenture”),
between the Company and The Bank of New York (successor trustee to The Chase
Manhattan Bank), Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture with respect to a series of
which this Security is a part), to which Indenture and all indentures
supplemental thereto, reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities, and of the terms
upon which the Securities are, and are to be, authenticated and delivered.  This Security is one of the series designated
on the face hereof which is unlimited in aggregate principal amount.

 

Section 2.  Payments.  If the Specified Currency is other than U.S.
dollars and the Holder hereof fails to elect payment in such Specified
Currency, the amount of U.S. dollar payments to be made in respect hereof will
be determined by the Exchange Rate Agent specified on the face hereof or a
successor thereto (the “Exchange Rate Agent”) based on the highest bid quotation
in The City of New York at approximately 11:00 A.M., New York City time,
on the second Business Day preceding the applicable payment date from three
recognized foreign exchange dealers (one of whom may be the Exchange Rate
Agent) selected by the Exchange Rate Agent and approved by the Company for the
purchase by the quoting dealer of the Specified Currency for U.S. dollars for
settlement on such payment date in the aggregate amount of the Specified
Currency payable to all Holders of Securities denominated in a Foreign Currency
scheduled to receive U.S. dollar payments and at which the applicable dealer
commits to execute a contract.  If three
such bid quotations are not available, payments will be made in the Specified
Currency. All currency exchange costs will be borne by the Holder of the
Security by deductions from such payments.

 

All
determinations referred to above made by the Exchange Rate Agent will be at its
sole discretion (except to the extent expressly provided that any determination
is subject to approval by the Company) and, in the absence of manifest error,
will be conclusive for all purposes and binding on the Holder of this Security,
and the Exchange Rate Agent will have no liability therefor.

 

All
currency exchange costs will be borne by the Company unless the Holder of this
Security has made the election to receive payments in the Specified
Currency.  In that case, the Holder shall
bear its pro rata portion of currency exchange costs, if any, by deductions
from payments otherwise due to such Holder.

 

References
herein to “U.S. dollars” or “U.S. $” or “$” are to the
currency of the United States of America.

 

24

 

Section 3.  Interest Rate Calculations.  Unless otherwise set forth on the face
hereof, the following provisions of this Section 3 shall apply to the
calculation of interest on this Security. 
If the first Interest Reset Date is later than the Original Issue Date,
this Security will bear interest from its Original Issue Date to the first
Interest Reset Date at the Initial Interest Rate set forth on the face
hereof.  Thereafter, the interest rate
hereon for each Interest Reset Period (as defined below) will be determined by
reference to the Base Rate set forth on the face hereof, as adjusted by the
Spread, the Spread Multiplier or other formula, if any, set forth on the face
hereof.

 

As set
forth on the face hereof, this Security may also have either or both of the
following:  (i) a maximum
limitation, or ceiling, on the rate at which interest may accrue during any
Interest Period (as defined below) (“Maximum Interest Rate”); and (ii) a
minimum limitation, or floor, on the rate at which interest may accrue during
any Interest Period (“Minimum Interest Rate”).  In addition to any Maximum Interest Rate that
may be set forth on the face hereof, the interest rate on this Security will in
no event be higher than the maximum rate permitted by New York law, as the same
may be modified by United States law of general application.

 

The
rate of interest hereon will be reset daily, weekly, monthly, quarterly,
semi-annually or annually or at another interval (each, an “Interest Reset
Period”), as set forth on the face hereof. 
The date or dates on which interest will be reset (each, an “Interest
Reset Date”) will be, if this Security resets (i) daily, each Business
Day; (ii) weekly, the Wednesday of each week (unless the Base Rate set
forth on the face hereof is the Treasury Rate); (iii) weekly and if the
Base Rate set forth on the face hereof is the Treasury Rate, the Tuesday of
each week (except as provided below); (iv) monthly, the third Wednesday of
each month; (v) quarterly, the third Wednesday of March, June, September and
December of each year; (vi) semi-annually, the third Wednesday of the
two months set forth on the face hereof; and (vii) annually, the third
Wednesday of the month set forth on the face hereof.  If the Base Rate set forth
on the face hereof is the Treasury Rate and a Treasury auction shall fall on
the Interest Reset Date for this Security, then such Interest Reset Date shall
instead be the first Business Day immediately following such Treasury
auction.  If any Interest Reset Date
would otherwise be a day that is not a Business Day, such Interest Reset Date
shall be postponed to the next succeeding Business Day, except that, if the
Base Rate set forth on the face hereof is LIBOR or EURIBOR, if such Business
Day is in the next succeeding calendar month, such Interest Reset Date shall be
the immediately preceding Business Day.

 

The face
hereof describes the initial interest rate formula on each Note.  That rate is effective until the following
Interest Reset Date.  Thereafter, the
interest rate will be the rate determined on each Interest Determination
Date.  Each time a new interest rate is
determined, it becomes effective on the subsequent Interest Reset Date.  If any Interest Reset Date is not a Business
Day, then the Interest Reset Date is postponed to the next Business Day,
except, in the case of a LIBOR or EURIBOR Note, in which case, if the next
Business Day is in the next calendar month, the Interest Reset Date is the
immediately preceding Business Day.

 

The
interest payable hereon on each Interest Payment Date and on the Maturity Date
shall be the amount of interest accrued from and including the Original Issue
Date or the last Interest Payment Date to which interest has been paid or duly
provided for, as the case may 

 

25

 

be, to, but excluding, the applicable Interest Payment
Date or the Maturity Date (each such period, an “Interest Period”).  If the Maturity Date falls on a day which is
not a Business Day, the payment of principal, premium, if any, and interest
with respect to the Maturity Date will be paid on the next succeeding Business
Day with the same force and effect as if made on the Maturity Date, and no
interest shall accrue on the amount so payable as a result of such delayed
payment.  If an Interest Payment Date
other than the Maturity Date falls on a day that is not a Business Day, such
Interest Payment Date will be postponed to the next day that is a Business Day
and interest will accrue for the period of such postponement (except if the
Base Rate specified above is LIBOR or EURIBOR, and such day falls in the next
succeeding calendar month, such Interest Payment Date will be advanced to the
immediately preceding Business Day), it being understood that, to the extent
this sentence is inconsistent with Section 112 of the Indenture, the
provisions of this sentence shall apply in lieu of such Section.

 

Accrued
interest will be calculated by multiplying the principal amount hereof by an
accrued interest factor.  Such accrued
interest factor will be computed by adding the interest factor calculated for
each day in the Interest Period for which accrued interest is being
calculated.  The interest factor for each
such day is computed by dividing the interest rate applicable on such day by
360, if the Base Rate set forth on the face hereof is the CD Rate, Commercial
Paper Rate, Eleventh District Cost of Funds Rate, Federal Funds Rate, Prime
Rate, LIBOR or EURIBOR (as described below), or by the actual number of days in
the year, if the Base Rate set forth on the face hereof is the Treasury Rate or
the CMT Rate (as described below).  The
interest rate applicable to any day that is an Interest Reset Date is the
interest rate as determined, in accordance with the procedures hereinafter set
forth, with respect to the Interest Determination Date (as defined below)
pertaining to such Interest Reset Date. 
The interest rate applicable to any other day is the interest rate for
the immediately preceding Interest Reset Date (or if none, the Initial Interest
Rate, as set forth on the face hereof).

 

All
percentages resulting from any calculation with respect hereto will be rounded,
if necessary, to the nearest one hundred-thousandth of a percentage point, with
five one-millionths of a percentage point rounded upward (e.g.,
7.123455% (or 0.07123455) being rounded to 7.12346% (or 0.0712346) and 7.123454%
(or 0.07123454) being rounded to 7.12345% (or 0.0712345)), and all currency
amounts used in or resulting from such calculation will be rounded to the
nearest one-hundredth of a unit (with five one-thousandths of a unit being
rounded upwards).

 

Unless
specified on the face hereof, interest will be payable on, if this Security
resets (i) daily, weekly or monthly, the third Wednesday of each month; (ii) quarterly,
the third Wednesday of March, June, September and December of each
year; (iii) semi-annually, the third Wednesday of the two months set forth
on the face hereof; and (iv) annually, the third Wednesday of the month
set forth on the face hereof (each, an “Interest Payment Date”), and in
each case, on the Maturity Date.

 

If
the Base Rate set forth on the face hereof is the CD Rate or the CMT Rate, the
Interest Determination Date will be the second Business Day before such
Interest Reset Date; if the Base Rate set forth on the face hereof is LIBOR,
the Interest Determination Date will be the second London Business Day
immediately preceding such Interest Reset Date (unless the LIBOR Currency is
Sterling, in which case the Interest Determination Date will be the Interest 

 

26

 

Reset
Date); if the Base Rate set forth on the face hereof is EURIBOR, the Interest
Determination Date will be the second TARGET Business Day immediately preceding
the Interest Reset Date; and if the Base Rate set forth on the face hereof is
the Treasury Rate, the Interest Determination Date will be the day of the week
in which such Interest Reset Date falls on which Treasury bills of the Index
Maturity (as defined below) would normally be auctioned.  Treasury bills are usually sold at auction on
Monday of each week, unless that day is a legal holiday, in which case the
auction is usually held on the following Tuesday, except that such auction may
be held on the preceding Friday.  If an
auction is held on the preceding Friday, such Friday will be the Interest
Determination Date pertaining to the Interest Reset Date occurring in the next
succeeding week. If the Base Rate set forth on the face hereof is the Eleventh
District Cost of Funds Rate, the Interest Determination Date is the last
Business Day of the month immediately preceding the applicable Interest Reset
Date in which the Federal Home Loan Bank of San Francisco published the
applicable rate.

 

If the
Base Rate set forth on the face hereof is the Commercial Paper Rate, Federal
Funds Rate or the Prime Rate, the Interest Determination Date will be the first
Business Day preceding such Interest Reset Date.

 

If the
interest rate of this Security is determined by reference to two or more
Interest Rate Bases specified on the face hereof, the Interest Determination
Date will be the most recent Business Day which is at least two Business Days
prior to the applicable Interest Reset Date on which each Interest Reset Basis
is determinable.

 

Unless
otherwise set forth on the face hereof, the “Calculation Date”, where
applicable, pertaining to an Interest Determination Date is the earlier of (i) the
tenth calendar day after such Interest Determination Date, or if any such day
is not a Business Day, the next succeeding Business Day and (ii) the
Business Day immediately preceding the applicable Interest Payment Date or the
Maturity Date, as the case may be.

 

The
Company will appoint and enter into an agreement with an agent (a “Calculation
Agent”) to calculate the rate of interest on the Securities of this series
which bear interest at a floating rate. 
Unless otherwise set forth on the face hereof, the paying agent will be
the Calculation Agent.  At the request of
the Holder hereof, the Calculation Agent will provide the interest rate then in
effect and, if different, the interest rate that will become effective on the
next Interest Reset Date.

 

Subject to applicable provisions of law and except
as specified herein, with respect to each Interest Determination Date, the rate
of interest shall be the rate determined by the Calculation Agent in accordance
with the provisions of the applicable heading below.

 

Determination of CD Rate.  If the Base Rate set forth on the face hereof
is the CD Rate, this Security will bear interest for each Interest Reset Period
at the interest rate calculated with reference to the CD Rate and the Spread,
Spread Multiplier or other formula, if any, set forth on the face hereof.  Unless otherwise set forth on the face
hereof, the “CD Rate” for any Interest Determination Date is the rate on that date for
negotiable U.S. dollar certificates of deposit having the Index Maturity
described in the related prospectus supplement or term sheet, as published in
H.15(519) prior to 3:00 p.m., New York City time, on the Calculation Date,
for 

 

27

 

that Interest Determination Date under the heading “CDs
(secondary market)”. The “Index Maturity” is the period to maturity of the
instrument or obligation with respect to which the related interest rate basis
or formula will be calculated.

 

The following procedures will be followed if the CD
Rate cannot be determined as described above:

 

·                  If the above rate is not published in
H.15(519) by 3:00 p.m., New York City time, on the Calculation Date, the
CD Rate will be the rate on that Interest Determination Date for negotiable
United States dollar certificates of deposit of the Index Maturity described in
the prospectus supplement or term sheet as published in H.15 Daily Update, or
such other recognized electronic source used for the purpose of displaying such
rate, under the caption ‘‘CDs (secondary market)’’.

 

·                  If that rate is not published in H.15(519),
H.15 Daily Update or another recognized electronic source by 3:00 p.m.,
New York City time, on the Calculation Date, then the calculation agent will
determine the CD Rate to be the average of the secondary market offered rates
as of 10:00 a.m., New York City time, on that Interest Determination Date,
quoted by three leading nonbank dealers of negotiable U.S. dollar certificates
of deposit in New York City (which may include an agent or its affiliates) for
negotiable U.S. dollar certificates of deposit of major United States
money-center banks with a remaining maturity closest to the Index Maturity in
an amount that is representative for a single transaction in the market at that
time described in the prospectus supplement or term sheet. The calculation
agent will select the three dealers referred to above.

 

·                  If fewer than three dealers are quoting as
mentioned above, the CD Rate will remain the CD Rate then in effect on that
Interest Determination Date.

 

“H.15(519)” means the weekly statistical
release designated as such, or any successor publication, published by the
Board of Governors of the Federal Reserve System.

 

“H.15 Daily Update” means the daily update
of H.15(519), available through the web site of the Board of Governors of the
Federal Reserve System at http://www.federalreserve.gov/releases/h15/update, or
any successor site or publication.

 

Determination of Commercial
Paper Rate.  If the Base
Rate set forth on the face hereof is the Commercial Paper Rate, this Security
will bear interest for each Interest Reset Period at the interest rate
calculated with reference to the Commercial Paper Rate and the Spread, Spread
Multiplier or other formula , if any, set forth on the face hereof.  Unless otherwise set forth on the face
hereof, the “Commercial Paper Rate” for any Interest Determination Date is the Money
Market Yield of the rate on that date for commercial paper having the Index Maturity
described in the related prospectus supplement or term sheet, as published in
H.15(519) prior to 3:00 p.m., New York City time, on the Calculation Date
for that Interest Determination Date under the heading “Commercial
Paper—Nonfinancial”.

 

28

 

The following
procedures will be followed if the Commercial Paper Rate cannot be determined
as described above:

 

·                  If the above rate is not published in
H.15(519) by 3:00 p.m., New York City time, on the Calculation Date, the
Commercial Paper Rate will be the Money Market Yield of the rate on that
Interest Determination Date for commercial paper having the Index Maturity
described in the prospectus supplement or term sheet, as published in H.15
Daily Update, or such other recognized electronic source used for the purpose
of displaying such rate, under the caption ‘‘Commercial Paper—Nonfinancial’’.

 

·                  If that rate is not published in H.15(519),
H.15 Daily Update or another recognized electronic source by 3:00 p.m.,
New York City time, on the Calculation Date, then the calculation agent will
determine the Commercial Paper Rate to be the Money Market Yield of the average
of the offered rates of three leading dealers of U.S. dollar commercial paper
in New York City (which may include an agent or its affiliates) as of 11:00 a.m.,
New York City time, on that Interest Determination Date for commercial paper having
the Index Maturity described in the prospectus supplement or term sheet placed
for an industrial issuer whose bond rating is ‘‘Aa’’, or the equivalent, from a
nationally recognized statistical rating organization. The calculation agent
will select the three dealers referred to above.

 

·                  If fewer than three dealers selected by the
calculation agent are quoting as mentioned above, the Commercial Paper Rate
will remain the Commercial Paper Rate then in effect on that Interest
Determination Date.

 

“Money
Market Yield” shall be a yield (expressed as a percentage) calculated in
accordance with the following formula:

 

	
  Money
  Market Yield

  	
  =

  	
  D x 360

  	
  x

  	
  100

  
	
   

  	
   

  	
  360 - (D x M)

  

 

where “D” refers to the applicable per annum rate for commercial paper,
quoted on a bank discount basis and expressed as a decimal; and “M” refers to
the actual number of days in the Interest Reset Period for
which interest is being calculated.

 

Determination of LIBOR.  If the Base Rate set forth on the face hereof
is LIBOR, this Security will bear interest for each Interest Reset Period at
the interest rate calculated with reference to LIBOR and the Spread, Spread
Multiplier or other formula, if any, set forth on the face hereof.  Unless otherwise set forth on the face
hereof, “LIBOR” for any Interest Determination Date is the rate for deposits in the LIBOR
Currency having the Index Maturity specified in such pricing supplement or term
sheet as such rate is displayed on Reuters on page LIBOR01 (or any other page as
may replace such page on such service for the purpose of displaying the
London interbank rates of major banks for the designated LIBOR Currency) (‘‘Reuters
Page LIBOR01’’) as of 11:00 a.m., London time, on such LIBOR Interest
Determination Date.

 

29

 

The following procedure will be followed if LIBOR
cannot be determined as described above:

 

·                  The calculation agent shall request the
principal London offices of each of four major reference banks (which may
include affiliates of the agents) in the London interbank market, as selected
by the calculation agent to provide the calculation agent with its offered
quotation for deposits in the designated LIBOR Currency for the period of the
Index Maturity specified in the applicable pricing supplement or term sheet,
commencing on the related Interest Reset Date, to prime banks in the London
interbank market at approximately 11:00 a.m., London time, on such LIBOR
Interest Determination Date and in a principal amount that is representative
for a single transaction in the designated LIBOR Currency in such market at
such time. If at least two such quotations are so provided, then LIBOR on such
LIBOR Interest Determination Date will be the arithmetic mean calculated by the
calculation agent of such quotations. If fewer than two such quotations are so
provided, then LIBOR on such LIBOR Interest Determination Date will be the
arithmetic mean calculated by the calculation agent of the rates quoted at
approximately 11:00 a.m., in the applicable Principal Financial Center (as
described above), on such LIBOR Interest Determination Date by three major
banks (which may include affiliates of the agents) in such Principal Financial
Center selected by the calculation agent for loans in the designated LIBOR
Currency to leading European banks, having the Index Maturity specified in the
applicable pricing supplement or term sheet and in a principal amount that is
representative for a single transaction in the designated LIBOR Currency in
such market at such time; provided,
however, that if the banks so
selected by the calculation agent are not quoting as mentioned in this sentence,
LIBOR determined as of such LIBOR Interest Determination Date shall be LIBOR in
effect on such LIBOR Interest Determination Date.

 

“LIBOR Currency” means the currency
specified in the applicable prospectus supplement or term sheet as to which
LIBOR shall be calculated or, if no such currency is specified in the
applicable prospectus supplement or term sheet, U.S. dollars.

 

Determination of EURIBOR.  If the Base Rate set forth on the face hereof
is EURIBOR, this Security will bear interest for each Interest Reset Period at
the interest rate calculated with reference to EURIBOR and the Spread, Spread
Multiplier or other formula, if any, set forth on the face hereof.  Unless otherwise set forth on the face
hereof, “EURIBOR” for any Interest Determination Date is the offered rate for deposits in
euro having the Index Maturity specified in the applicable pricing supplement
or term sheet, beginning on the second TARGET Business Day after such EURIBOR
Interest Determination Date, as that rate appears on Reuters Page EURIBOR
01 as of 11:00 a.m., Brussels time, on such EURIBOR Interest Determination
Date.

 

The following procedure will be followed if EURIBOR
cannot be determined as described above:

 

30

 

·                  EURIBOR will be determined on the basis of
the rates, at approximately 11:00 a.m., Brussels time, on such EURIBOR
Interest Determination Date, at which deposits of the following kind are
offered to prime banks in the euro-zone interbank market by the principal
euro-zone office of each of four major banks in that market selected by the
calculation agent: euro deposits having such EURIBOR Index Maturity, beginning
on such EURIBOR Interest Reset Date, and in a representative amount. The
calculation agent will request that the principal euro-zone office of each of
these banks provide a quotation of its rate. If at least two quotations are
provided, EURIBOR for such EURIBOR Interest Determination Date will be the
arithmetic mean of the quotations.

 

·                  If fewer than two quotations are provided as
described above, EURIBOR for such EURIBOR Interest Determination Date will be
the arithmetic mean of the rates for loans of the following kind to leading
euro-zone banks quoted, at approximately 11:00 a.m., Brussels time on that
Interest Determination Date, by three major banks in the euro-zone selected by
the calculation agent: loans of euro having such EURIBOR Index Maturity,
beginning on such EURIBOR Interest Reset Date, and in an amount that is
representative of a single transaction in euro in that market at the time.

 

·                  If fewer than three banks selected by the
calculation agent are quoting as described above, EURIBOR for the new interest
period will be EURIBOR in effect for the prior interest period. If the initial
base rate has been in effect for the prior interest period, however, it will
remain in effect for the new interest period.

 

Determination of Federal Funds Rate.  If the Base Rate set forth on the face hereof
is the Federal Funds Rate, this Security will bear interest for each Interest
Reset Period at the interest rate calculated with reference to the Federal
Funds Rate and the Spread, Spread Multiplier or other formula, if any, set
forth on the face hereof.  Unless
otherwise set forth on the face hereof, the “Federal Funds Rate” will be calculated by
reference to either the “Federal Funds (Effective) Rate”, the “Federal
Funds Open Rate” or the “Federal Funds Target Rate”, as specified in
the applicable pricing supplement or term sheet. The Federal Funds Rate is the
rate determined by the calculation agent, with respect to any Interest
Determination Date relating to a Floating Rate Note for which the interest rate
is determined with reference to the Federal Funds Rate (a “Federal Funds
Rate Interest Determination Date”), in accordance with the following
provisions:

 

·                  If Federal Funds (Effective) Rate is the
specified Federal Funds Rate in the applicable pricing supplement or term
sheet, the Federal Funds Rate as of the applicable Federal Funds Rate Interest
Determination Date shall be the rate with respect to such date for United
States dollar federal funds as published in H.15(519) opposite the caption ‘“Federal
funds (effective),” as such rate is displayed on Reuters on page FEDFUNDS1
(or any other page as may replace such page on such service) (‘‘Reuters
Page FEDFUNDS1”) under the heading “EFFECT,” or, if such rate is not so
published by 3:00 p.m., New York City time, on the calculation date, the
rate with respect to such Federal Funds Rate Interest Determination Date for United
States dollar federal funds as published in H.15 

 

31

 

Daily Update, or
such other recognized electronic source used for the purpose of displaying such
rate, under the caption “Federal funds (effective).”

 

The following procedure will be followed if “Federal
Funds (Effective) Rate’ is the specified Federal Funds Rate in the applicable
pricing supplement or term sheet and such Federal Funds Rate cannot be
determined as described above. The Federal Funds Rate with respect to such
Federal Funds Rate Interest Determination Date shall be calculated by the
calculation agent and will be the arithmetic mean of the rates for the last
transaction in overnight United States dollar federal funds arranged by three leading
brokers of U.S. dollar federal funds transactions in New York City (which may
include the agents or their affiliates) selected by the calculation agent,
prior to 9:00 a.m., New York City time, on the Business Day following such
Federal Funds Rate Interest Determination Date; provided, however, that if the brokers so selected by the
calculation agent are not quoting as mentioned in this sentence, the Federal
Funds Rate determined as of such Federal Funds Rate Interest Determination Date
will be the Federal Funds Rate in effect on such Federal Funds Rate Interest
Determination Date.

 

·                  If Federal Funds Open Rate is the specified
Federal Funds Rate in the applicable pricing supplement or term sheet, the
Federal Funds Rate as of the applicable Federal Funds Rate Interest
Determination Date shall be the rate on such date under the heading “Federal
Funds” for the relevant Index Maturity and opposite the caption “Open” as such
rate is displayed on Reuters on page 5 (or any other page as may
replace such page on such service) (“Reuters Page 5”), or, if such
rate does not appear on Reuters Page 5 by 3:00 p.m., New York City
time, on the calculation date, the Federal Funds Rate for the Federal Funds
Rate Interest Determination Date will be the rate for that day displayed on
FFPREBON Index page on Bloomberg L.P. 
(“Bloomberg”), which is the Fed Funds Opening Rate as reported by Prebon
Yamane (or a successor) on Bloomberg.

 

The following procedure will be followed if “Federal
Funds Open Rate” is the specified Federal Funds Rate in the applicable pricing
supplement or term sheet and such Federal Funds Rate cannot be determined as
described above. The Federal Funds Rate on such Federal Funds Rate Interest
Determination Date shall be calculated by the calculation agent and will be the
arithmetic mean of the rates for the last transaction in overnight United
States dollar federal funds arranged by three leading brokers of United States
dollar federal funds transactions in New York City (which may include the
agents or their affiliates) selected by the calculation agent prior to 9:00 a.m.,
New York City time, on such Federal Funds Rate Interest Determination Date; provided, however,
that if the brokers so selected by the calculation agent are not quoting as
mentioned in this sentence, the Federal Funds Rate determined as of such
Federal Funds Rate Interest Determination Date will be the Federal Funds Rate
in effect on such Federal Funds Rate Interest Determination Date.

 

32

 

·                  If Federal Funds Target Rate is the
specified Federal Funds Rate in the applicable pricing supplement or term
sheet, the Federal Funds Rate as of the applicable Federal Funds Rate Interest
Determination Date shall be the rate on such date as displayed on the FDTR
Index page on Bloomberg. If such rate does not appear on the FDTR Index page on
Bloomberg by 3:00 p.m., New York City time, on the calculation date, the
Federal Funds Rate for such Federal Funds Rate Interest Determination Date will
be the rate for that day appearing on Reuters Page USFFTARGET= (or any
other page as may replace such page on such service) (“Reuters Page USFFTARGET=“).

 

The following procedure will be followed if “Federal
Funds Target Rate” is the specified Federal Funds Rate in the applicable
pricing supplement or term sheet and such Federal Funds Rate cannot be determined
as described above. The Federal Funds Rate on such Federal Funds Rate Interest
Determination Date shall be calculated by the calculation agent and will be the
arithmetic mean of the rates for the last transaction in overnight United
States dollar federal funds arranged by three leading brokers of United States
dollar federal funds transactions in New York City (which may include the
agents or their affiliates) selected by the calculation agent prior to 9:00 a.m.,
New York City time, on such Federal Funds Rate Interest Determination Date.

 

Determination of Prime Rate.  If the Base Rate set forth on the face hereof
is the Prime Rate, this Security will bear interest for each Interest Reset
Period at the interest rate calculated with reference to the Prime Rate and the
Spread, Spread Multiplier or other formula, if any, set forth on the face
hereof.  Unless otherwise set forth on
the face hereof, the “Prime Rate” for any Interest Determination Date is the rate on
that date, as published in H.15(519) by 3:00 p.m., New York City time, on
the Calculation Date for that Interest Determination Date under the heading ‘‘Bank
Prime Loan’’ or, if not published by 3:00 p.m., New York City time, on the
related Calculation Date, the rate on such Interest Determination Date as
published in H.15 Daily Update, or such other recognized electronic source used
for the purpose of displaying such rate, under the caption ‘‘Bank Prime Loan’’.

 

The following procedures will be followed if the
Prime Rate cannot be determined as described above:

 

·                  If the rate is not published in H.15(519),
H.15 Daily Update or another recognized electronic source by 3:00 p.m.,
New York City time, on the Calculation Date, then the calculation agent will
determine the Prime Rate to be the average of the rates of interest publicly
announced by each bank that appears on the Reuters Screen designated as ‘‘US
PRIME1 Page’’ as that bank’s prime rate or base lending rate in effect as of
11:00 a.m., New York City time on that Interest Determination Date.

 

·                  If fewer than four rates appear on the
Reuters Page USPRIME1 on the Interest Determination Date, then the Prime
Rate will be the average of the prime rates or base lending rates quoted (on
the basis of the actual number of days in the year 

 

33

 

divided by a 360-day
year) as of the close of business on the Interest Determination Date by three
major banks, which may include an agent or its affiliates, in the City of New
York selected by the calculation agent.

 

·                  If the banks selected by the calculation
agent are not quoting as mentioned above, the Prime Rate will remain the Prime
Rate then in effect on the Interest Determination Date.

 

“Reuters Page USPRIME1” means the
display on Reuters (or any successor service) on the ‘‘USPRIME1 Page’’ (or such
other page as may replace the USPRIME1 Page on such service) for the
purpose of displaying prime rates or base lending rates of major U.S. banks.

 

Determination of Treasury
Rate.  If the Base Rate set forth on
the face hereof is the Treasury Rate, this Security will bear interest for each
Interest Reset Period at the interest rate calculated with reference to the
Treasury Rate and the Spread, Spread Multiplier or other formula, if any, set
forth on the face hereof.  Unless
otherwise set forth on the face hereof, the “Treasury Rate” for any Interest Determination Date is the
rate from the auction of direct obligations of the United States (‘‘Treasury
bills’’) having the Index Maturity specified in such pricing supplement or term
sheet under the caption ‘‘INVEST RATE’’ on the display on Reuters page USAUCTION10
(or any other page as may replace such page on such service) or page USAUCTION11
(or any other page as may replace such page on such service) or, if
not so published at 3:00 p.m., New York City time, on the related
calculation date, the bond equivalent yield (as defined below) of the rate for
such treasury bills as published in H.15 Daily Update, or such other recognized
electronic source used for the purpose of displaying such rate, under the
caption ‘‘U.S. Government Securities/Treasury Bills/Auction High.’’ If such
rate is not so published in the related H.15 Daily Update or another recognized
source by 3:00 p.m., New York City time, on the related calculation date, the
Treasury Rate on such Treasury Rate Interest Determination Date shall be the
bond equivalent yield of the auction rate of such Treasury bills as announced
by the United States Department of the Treasury. In the event that such auction
rate is not so announced by the United States Department of the Treasury on
such calculation date, or if no such auction is held, then the Treasury Rate on
such Treasury Rate Interest Determination Date shall be the bond equivalent
yield of the rate on such Treasury Rate Interest Determination Date of Treasury
bills having the Index Maturity specified in the applicable pricing supplement
or term sheet as published in H.15(519) under the caption ‘‘U.S. government
securities/treasury bills/secondary market’’ or, if not yet published by 3:00 p.m.,
New York City time, on the related calculation date, the rate on such Treasury
Rate Interest Determination Date of such treasury bills as published in H.15
Daily Update, or such other recognized electronic source used for the purpose of
displaying such rate, under the caption ‘‘U.S. government securities/treasury
bills (secondary market).’’ If such rate is not yet published in the H.15(519),
H.15 Daily Update or another recognized electronic source by 3:00 p.m.,
New York City time, on the related calculation date, then the Treasury Rate on
such Treasury Rate Interest Determination Date shall be calculated by the
calculation agent and shall be the bond equivalent yield of the arithmetic mean
of the secondary market bid rates, as of approximately 3:30 p.m., New York
City time, on such Treasury Rate Interest Determination Date, of the three
leading primary United States government securities dealers (which may include
the agents or their affiliates) selected by the calculation agent, for the
issue of Treasury bills with a remaining 

 

34

 

maturity closest to the Index Maturity specified in the applicable
pricing supplement or term sheet; provided,
however, that if the dealers so selected by the calculation agent
are not quoting as mentioned in this sentence, the Treasury Rate determined as
of such Treasury Rate Interest Determination Date will be the Treasury Rate in
effect on such Treasury Rate Interest Determination Date.

 

“Bond
Equivalent Yield” means a yield calculated in accordance with the following
formula and expressed as a percentage:

 

	
  Bond
  Equivalent Yield

  	
  =

  	
  D x N

  	
  x

  	
  100

  
	
   

  	
   

  	
  360 - (D x M)

  

 

where “D” refers to the applicable per annum rate for Treasury Bills
quoted on a bank discount basis and expressed as a decimal, “N” refers to 365
or 366, as the case may be, and “M” refers to the actual number of days in the
interest reset period for which interest is being calculated.

 

Determination of CMT Rate.  If the Base Rate set forth on the face hereof
is the CMT Rate, this Security will bear interest for each Interest Reset
Period at the Interest Rate calculated with reference to the CMT Rate and the
Spread, Spread Multiplier, or other formula, if any, set forth on the face
hereof.  Unless otherwise set forth on
the face hereof, the “CMT Rate” for any Interest Determination Date is
determined as follows

 

·                  If ‘‘Reuters Page FRBCMT’’ is the
specified CMT Reuters Page in the applicable pricing supplement or term
sheet, the CMT Rate on the CMT Rate Interest Determination Date shall be a
percentage equal to the yield for United States Treasury securities at ‘‘constant
maturity’’ having the Index Maturity specified in the applicable pricing
supplement or term sheet as set forth in H.15(519) under the caption ‘‘Treasury
constant maturities,’’ as such yield is displayed on Reuters (or any successor
service) on page FRBCMT (or any other page as may replace such page on
such service) (‘‘Reuters Page FRBCMT’’) for such CMT Rate Interest
Determination Date.

 

·                  If such rate does not appear on Reuters Page FRBCMT,
the CMT Rate on such CMT Rate Interest Determination Date shall be a percentage
equal to the yield for United States Treasury securities at ‘‘constant maturity’’
having the Index Maturity specified in the applicable pricing supplement or
term sheet and for such CMT Rate Interest Determination Date as set forth in
H.15(519) under the caption ‘‘Treasury constant maturities.’’

 

·                  If such rate does not appear in H.15(519),
the CMT Rate on such CMT Rate Interest Determination Date shall be the rate for
the period of the Index Maturity specified in the applicable pricing supplement
or term sheet as may then be published by either the Federal Reserve Board or
the United States Department of the Treasury that the calculation agent
determines to be comparable to the rate that would otherwise have been
published in H.15(519).

 

35

 

·                  If the Federal Reserve Board or the United
States Department of the Treasury does not publish a yield on United States
Treasury securities at ‘‘constant maturity’’ having the Index Maturity
specified in the applicable pricing supplement or term sheet for such CMT Rate
Interest Determination Date, the CMT Rate on such CMT Rate Interest
Determination Date shall be calculated by the calculation agent and shall be a
yield-to-maturity based on the arithmetic mean of the secondary market bid
prices at approximately 3:30 p.m., New York City time, on such CMT Rate
Interest Determination Date of three leading primary United States government
securities dealers in New York City (which may include the agents or their
affiliates) (each, a ‘‘reference dealer’’) selected by the calculation agent
from five such reference dealers selected by the calculation agent and
eliminating the highest quotation (or, in the event of equality, one of the
highest) and the lowest quotation (or, in the event of equality, one of the
lowest) for United States Treasury securities with an original maturity equal
to the Index Maturity specified in the applicable pricing supplement or term
sheet, a remaining term to maturity no more than one year shorter than such
Index Maturity and in a principal amount that is representative for a single
transaction in such securities in such market at such time. If fewer than three
prices are provided as requested, the CMT Rate on such CMT Rate Interest
Determination Date shall be calculated by the calculation agent and shall be a
yield-to-maturity based on the arithmetic mean of the secondary market bid
prices as of approximately 3:30 p.m., New York City time, on such CMT Rate
Interest Determination Date of three reference dealers selected by the
calculation agent from five such reference dealers selected by the calculation
agent and eliminating the highest quotation (or, in the event of equality, one
of the highest) and the lowest quotation (or, in the event of equality, one of
the lowest) for United States Treasury securities with an original maturity
greater than the Index Maturity specified in the applicable pricing supplement
or term sheet, a remaining term to maturity closest to such Index Maturity and
in a principal amount that is representative for a single transaction in such
securities in such market at such time. If two such United States Treasury
securities with an original maturity greater than the Index Maturity specified
in the applicable pricing supplement or term sheet have remaining terms to maturity
equally close to such Index Maturity, the quotes for the treasury security with
the shorter original term to maturity will be used. If fewer than five but more
than two such prices are provided as requested, the CMT Rate on such CMT Rate
Interest Determination Date shall be calculated by the calculation agent and
shall be based on the arithmetic mean of the bid prices obtained and neither
the highest nor the lowest of such quotations shall be eliminated; provided, however,that
if fewer than three such prices are provided as requested, the CMT Rate
determined as of such CMT Rate Interest Determination Date shall be the CMT
Rate in effect on such CMT Rate Interest Determination Date.

 

·                  If ‘‘Reuters Page FEDCMT’’ is the
specified CMT Reuters Page in the applicable pricing supplement or term
sheet, the CMT Rate on the CMT Rate Interest Determination Date shall be a
percentage equal to the one-week or one-month, as specified in the applicable
pricing supplement or term sheet, average yield for 

 

36

 

United States
Treasury securities at ‘‘constant maturity’’ having the Index Maturity
specified in the applicable pricing supplement or term sheet as set forth in
H.15(519) opposite the caption ‘‘Treasury Constant Maturities,’’ as such yield
is displayed on Reuters on page FEDCMT (or any other page as may
replace such page on such service) (‘‘Reuters Page FEDCMT’’) for the
week or month, as applicable, ended immediately preceding the week or month, as
applicable, in which such CMT Rate Interest Determination Date falls.

 

·                  If such rate does not appear on Reuters Page FEDCMT,
the CMT Rate on such CMT Rate Interest Determination Date shall be a percentage
equal to the one-week or one-month, as specified in the applicable pricing
supplement or term sheet, average yield for United States Treasury securities
at ‘‘constant maturity’’ having the Index Maturity specified in the applicable
pricing supplement or term sheet for the week or month, as applicable,
preceding such CMT Rate Interest Determination Date as set forth in H.15(519)
opposite the caption ‘‘Treasury Constant Maturities.’’

 

·                  If such rate does not appear in H.15(519),
the CMT Rate on such CMT Rate Interest Determination Date shall be the one-week
or one-month, as specified in the applicable pricing supplement or term sheet,
average yield for United States Treasury securities at ‘‘constant maturity’’
having the Index Maturity specified in the applicable pricing supplement or
term sheet as otherwise announced by the Federal Reserve Bank of New York for
the week or month, as applicable, ended immediately preceding the week or month,
as applicable, in which such CMT Rate Interest Determination Date falls.

 

·                  If the Federal Reserve Bank of New York does
not publish a one-week or one-month, as specified in the applicable pricing
supplement or term sheet, average yield on United States Treasury securities at
‘‘constant maturity’’ having the Index Maturity specified in the applicable
pricing supplement or term sheet for the applicable week or month, the CMT Rate
on such CMT Rate Interest Determination Date shall be calculated by the
calculation agent and shall be a yield-to-maturity based on the arithmetic mean
of the secondary market bid prices at approximately 3:30 p.m., New York
City time, on such CMT Rate Interest Determination Date of three reference
dealers selected by the calculation agent from five such reference dealers
selected by the calculation agent and eliminating the highest quotation (or, in
the event of equality, one of the highest) and the lowest quotation (or, in the
event of equality, one of the lowest) for United States Treasury securities
with an original maturity equal to the Index Maturity specified in the
applicable pricing supplement or term sheet, a remaining term to maturity of no
more than one year shorter than such Index Maturity and in a principal amount
that is representative for a single transaction in such securities in such
market at such time. If fewer than five but more than two such prices are
provided as requested, the CMT Rate on such CMT Rate Interest Determination
Date shall be the rate on the CMT Rate Interest Determination Date calculated
by the calculation agent based on the arithmetic mean of the bid prices
obtained and 

 

37

 

neither the highest
nor the lowest of such quotation shall be eliminated. If fewer than three
prices are provided as requested, the CMT Rate on such CMT Rate Interest
Determination Date shall be calculated by the calculation agent and shall be a
yield-to-maturity based on the arithmetic mean of the secondary market bid
prices as of approximately 3:30 p.m., New York City time, on such CMT Rate
Interest Determination Date of three reference dealers selected by the
calculation agent from five such reference dealers selected by the calculation
agent and eliminating the highest quotation (or, in the event of equality, one
of the highest) and the lowest quotation (or, in the event of equality, one of
the lowest) for United States Treasury securities with an original maturity
longer than the Index Maturity specified in the applicable pricing supplement
or term sheet, a remaining term to maturity closest to such Index Maturity and
in a principal amount that is representative for a single transaction in such
securities in such market at such time. If two United States Treasury
securities with an original maturity greater than the Index Maturity specified
in the applicable pricing supplement or term sheet have remaining terms to
maturity equally close to such Index Maturity, the quotes for the Treasury
security with the shorter original term to maturity will be used. If fewer than
five but more than two such prices are provided as requested, the CMT Rate on
such CMT Rate Interest Determination Date shall be the rate on the CMT Rate
Interest Determination Date calculated by the calculation agent based on the
arithmetic mean of the bid prices obtained and neither the highest nor lowest
of such quotations shall be eliminated; provided,
however, that if fewer than three such prices are provided as
requested, the CMT Rate determined as of such CMT Rate Determination Date shall
be the CMT Rate in effect on such CMT Rate Interest Determination Date.

 

Determination
of Eleventh District Cost of Funds Rate.  If the Base Rate set forth on the face hereof
is the Eleventh District Cost of Funds Rate, this Security will bear interest
for each Interest Reset Period at the interest rate calculated with reference
to the Eleventh District Cost of Funds Rate and the Spread, Spread Multiplier
or other formula, if any, set forth on the face hereof.  Unless otherwise set forth on the face
hereof, the “Eleventh District Cost of Funds Rate” for any Interest
Determination Date with respect thereto is the rate equal to the monthly
weighted average cost of funds for the month preceding the Interest
Determination Date as displayed on Reuters Page COFI/ARMS (or any other page as
may replace that specified page on that service) as of 11:00 A.M.,
San Francisco time, on the Calculation Date for that Interest Determination
Date under the caption “11th District”; or if the rate is not
displayed on the relevant page as of 11:00 A.M., San Francisco time,
on the Calculation Date, then the Eleventh District Cost of Funds Rate will be
the monthly weighted average cost of funds paid by member institutions of the
Eleventh Federal Home Loan Bank District, as announced by the Federal Home Loan
Bank of San Francisco, as the cost of funds for the calendar month preceding
the date of announcement, or if no announcement was made relating to the
calendar month preceding the Interest Determination Date, the Eleventh District
Cost of Funds Rate will remain the Eleventh District Cost of Funds Rate then in
effect on the Interest Determination Date.

 

Section 4.  Redemption.  If so specified on the face hereof, the
Company may at its option redeem this Security in whole or from time to time in
part in increments of $1,000 (provided that any remaining principal amount of
this Security shall not be less than the

 

38

 

Minimum Denomination specified on the face hereof) on
or after the date designated as the Initial Redemption Date on the face hereof,
at 100% of the unpaid principal amount hereof or the portion thereof redeemed
(or, if this Security is a Discount Security, such lesser amount as is provided
for below) multiplied by the Initial Redemption Percentage specified on the
face hereof, together with accrued interest, if any, to the Redemption
Date.  Such Initial Redemption Percentage
shall decline at each anniversary of the Initial Redemption Date by an amount
equal to the Annual Redemption Percentage Reduction, if any, specified on the
face hereof, until the redemption price is 100% of the unpaid principal amount
hereof.  The Company may exercise such
option by causing the Trustee to mail a notice of such redemption at least 30
but not more than 60 days prior to the Redemption Date.  In the event of redemption of this Security
in part only, a new Security or Securities for the unredeemed portion hereof
shall be issued in the name of the Holder hereof upon the cancellation
hereof.  If less than all of the
Securities with like tenor and terms to this Security are to be redeemed, the
Securities to be redeemed shall be selected by the Trustee by such method as
the Trustee shall deem fair and appropriate. 
However, if less than all the Securities of the series of which this
Security is a part, with differing issue dates, interest rates or formula and
stated maturities are to be redeemed, the Company in its sole discretion shall
select the particular Securities to be redeemed and shall notify the Trustee in
writing thereof at least 45 days prior to the relevant Redemption Date.

 

Section 5. 
Repayment.  If so specified
on the face hereof, this Security shall be repayable prior to the Stated
Maturity Date at the option of the Holder on each applicable Optional Repayment
Date shown on the face hereof at a repayment price equal to 100% of the
principal amount to be repaid, together with accrued interest, if any, to the
Repayment Date.  In order for this
Security to be repaid, the Trustee must receive, at least 30 but not more than
60 days prior to an Optional Repayment Date, this Security with the form
attached hereto entitled “Option to Elect Repayment” duly completed.  Any tender of this Security for repayment
shall be irrevocable.  The repayment
option may be exercised by the Holder of this Security in whole or in part in
increments of $1,000 (provided that any remaining principal amount of this
Security shall not be less than the Minimum Denomination specified on the face
hereof).  Upon any partial repayment,
this Security shall be cancelled and a new Security or Securities for the
remaining principal amount hereof shall be issued in the name of the Holder of
this Security.

 

Section 6.  Sinking Fund.  Unless otherwise specified on the face
hereof, this Security will not be subject to any sinking fund.

 

Section 7.  Discount Securities.  If this Security (such a Security being
referred to as a “Discount Security”) (a) has been issued at an
Issue Price lower, by more than a de minimis amount (as determined under
United States federal income tax rules applicable to original issue
discount instruments), than the principal amount hereof and (b) would be
considered an original issue discount security for United States federal income
tax purposes, then the amount payable on this Security in the event of
redemption by the Company, repayment at the option of the Holder or
acceleration of the maturity hereof, in lieu of the principal amount due at the
Stated Maturity Date hereof, shall be the Amortized Face Amount (as defined
below) of this Security as of the date of such redemption, repayment or
acceleration.  The “Amortized Face
Amount” of this Security shall be the amount equal to the sum of (a) the
Issue Price (as set forth on the face hereof) plus (b) the aggregate of
the portions of the original issue discount (the excess of the amounts
considered as part of the “stated redemption price at maturity” of this
Security within 

 

39

 

the meaning of Section 1273(a)(2) of the
Internal Revenue Code of 1986, as amended (the “Code”), whether
denominated as principal or interest, over the Issue Price of this Security)
which shall theretofore have accrued pursuant to Section 1272 of the Code
(without regard to Section 1272(a)(7) of the Code) from the date of
issue of this Security to the date of determination, minus (c) any amount
considered as part of the “stated redemption price at maturity” of this
Security which has been paid on this Security from the date of issue to the
date of determination.

 

Section 8.  Modification and Waivers; Obligation of
the Company Absolute.  The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of
the Holders of the Securities of each series. 
Such amendment may be effected under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of not less than a
majority in principal amount of the Outstanding Securities affected
thereby.  The Indenture also contains
provisions permitting the Holders of not less than a majority in principal amount
of the Outstanding Securities at the time, on behalf of the Holders of all
Outstanding Securities, to waive compliance by the Company with certain
provisions of the Indenture.  Provisions
in the Indenture also permit the Holders of not less than a majority in
principal amount of all Outstanding Securities of any series to waive on behalf
of all of the Holders of Securities of such series certain past defaults under
the Indenture and their consequences. 
Any such consent or waiver shall be conclusive and binding upon the
Holder of this Security and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor
or in lieu hereof, whether or not notation of such consent or waiver is made
upon this Security.

 

The
Securities are unsecured and rank pari  passu with all other
unsecured and unsubordinated indebtedness of the Company.

 

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

 

Section 9.  Defeasance and Covenant Defeasance.  The Indenture contains provisions for
defeasance at any time of (a) the entire indebtedness of the Company on
this Security and (b) certain restrictive covenants and the related
defaults and Events of Default, upon compliance by the Company with certain
conditions set forth therein, which provisions apply to this Security, unless
otherwise specified on the face hereof.

 

Section 10.  Minimum Denominations.  Unless otherwise provided on the face hereof,
this Security is issuable only in registered form without coupons in
denominations of $1,000 or any amount in excess thereof which is an integral
multiple of $1,000.  If this Security is
denominated in a Specified Currency other than U.S. dollars or is a Discount
Security, this Security shall be issuable in the denominations set forth on the
face hereof.

 

Section 11.  Registration of Transfer.  As provided in the Indenture and subject to
certain limitations herein and therein set forth, the transfer of this Security
is registrable in the 

 

40

 

Security Register upon surrender of this Security for
registration of transfer at the office or Place of Payment for the series of
Securities of which this Security forms a part, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Securities
of this series, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

 

If the
registered owner of this Security is the Depository (such a Security being
referred to as a “Global Security”), and (i) the Depository is at
any time unwilling or unable to continue as depository and a successor
depository is not appointed by the Company within 60 days after notice to
the Company, or (ii) an Event of Default occurs, the Company will issue
Securities in certificated form in exchange for this Global Security.  In addition, the Company may at any time, and
in its sole discretion, determine not to have Securities represented by a
Global Security and, in such event, will issue Securities in certificated form
in exchange in whole for this Global Security. 
In any such instance, an owner of a beneficial interest in this Global
Security will be entitled to physical delivery of Securities in certificated
form equal in principal amount to such beneficial interest and to have such
Securities registered in its name. 
Securities so issued in certificated form will be issued in
denominations of $1,000 (or such other Minimum Denomination specified on the
face hereof by the Company) or any amount in excess thereof which is an
integral multiple of $1,000 (or such Minimum Denomination) and will be issued
in registered form only, without coupons.

 

No
service charge shall be made for any such registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

 

Prior
to due presentment of this Security for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Holder as
the owner hereof for all purposes, whether or not this Security be overdue, and
neither the Company, the Trustee nor any such agent shall be affected by notice
to the contrary.

 

Section 12.  Events of Default.  If an Event of Default with respect to the
Securities of the series of which this Security forms a part shall have
occurred and be continuing, the principal of this Security may be declared due
and payable in the manner and with the effect provided in the Indenture.

 

Section 13.  Defined Terms.  All terms used in this Security which are
defined in the Indenture and are not otherwise defined herein shall have the
meanings assigned to them in the Indenture.

 

Section 14.  Governing Law.  This Security shall be governed by and
construed in accordance with the law of the State of New York.

 

41

 

OPTION TO ELECT REPAYMENT

 

The
undersigned hereby irrevocably requests and instructs the Company to repay this
Security (or the portion thereof specified below), pursuant to its terms, on
the Optional Repayment Date first occurring after the date of receipt of the
within Security as specified below (the “Repayment Date”), at a
Repayment Price equal to 100% of the principal amount thereof, together with
interest thereon accrued to the Repayment Date, to the undersigned at:

 

	
   

  
	
  

  
	
  (Please Print or Type Name and Address of the
  Undersigned.)

  

 

For
this Option to Elect Repayment to be effective, this Security with the Option
to Elect Repayment duly completed must be received at least 30 but not
more than 60 days prior to the Repayment Date (or, if such Repayment Date
is not a Business Day, the next succeeding Business Day) by the Company at its
office or agency in The City of New York, which will be located initially at
the office of the Trustee at 101 Barclay Street - Fl. 8W, New York, NY 10286.

 

If
less than the entire principal amount of this Security is to be repaid, specify
the portion thereof (which shall be $1,000 or an integral multiple thereof)
which is to be repaid:  $           .

 

If
less than the entire principal amount of this Security is to be repaid, specify
the denomination(s) of the Security(ies) to be issued for the unpaid
amount ($1,000 or any integral multiple of $1,000; provided that any
remaining principal amount of this Security shall not be less than the Minimum
Denomination):  $             .

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Note: The signature to this Option to Elect
  Repayment must correspond with the name as written upon the face of this
  Security in every particular without alterations or enlargement or any change
  whatsoever.

  

 

42

 

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

 

	
  TEN COM

  	
  -

  	
  as tenants in common

  
	
  TEN ENT

  	
  -

  	
  as tenants by the entireties

  
	
  JT TEN

  	
  -

  	
  as joint tenants with right of survivorship and not
  as tenants in common

  
	
   

  
	
  UNIF GIFT MIN ACT -

  	
   

  	
  Custodian

  	
   

  	
   

  
	
   

  	
  (Cust.)

  	
   

  	
  (Minor)

  	
   

  
	
  Under Uniform Gifts to Minors Act

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (State)

  	
   

  
									

 

Additional abbreviations may also be used though not in the above list.

 

 

FOR VALUE RECEIVED, the undersigned

hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Please print or type
  name and address, including zip code of assignee

  

 

	
   

  

the within Security of JOHN DEERE CAPITAL CORPORATION and all rights
thereunder and does hereby irrevocably constitute and appoint
                                                                  
                                                                              
Attorney to transfer the said Security on the books of the within-named
Company, with full power of substitution in the premises.

 

	
  Dated:

  	
   

  	
   

  

 

	
  SIGNATURE GUARANTEED:

  	
   

  	
   

  

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NOTICE:  The
  signature to this assignment must correspond with the name as it appears upon
  the face of the within Security in every particular, without alteration or
  enlargement or any change whatsoever.

  

 

43

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]