Document:

Exhibit 10.2 to Hecla Mining Company Form 8-K dated April 16, 2008

Exhibit 10.2

 

HECLA GUARANTY

 

This Guaranty (the “Guaranty”), made effective as of April 16, 2008 is made by Hecla Mining Company, a Delaware corporation (“Guarantor”) in favor of Kennecott Minerals Holdings Company, a Delaware corporation (“Beneficiary”).

 

RECITALS

 

A.                    Beneficiary, Hecla Admiralty Company, a Delaware corporation (“Buyer”) and Guarantor have entered into that certain Stock Purchase Agreement dated February 12, 2008 (together with the exhibits, annexes and documents incorporated therein by reference, and as may be modified from time to time, the “Purchase Agreement”), pursuant to which Beneficiary has agreed to sell to Buyer all of the issued and outstanding shares of the capital stock of Kennecott Greens Creek Mining Company and Kennecott Juneau Mining Company (the “Acquisition”).

 

B.                    Guarantor owns all of the capital stock of Buyer.

 

C.                    In consideration of the Purchase Agreement and the benefits to be obtained by Guarantor, and Buyer thereunder, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Guarantor has agreed to guarantee all of the liabilities and obligations of Buyer under the Purchase Agreement.

 

GUARANTY

 

For good and valuable consideration, Guarantor and Beneficiary agree as follows:

 

1.         Guaranty.  Guarantor and its permitted successors unconditionally and irrevocably guarantee to the Beneficiary, its successors and assigns, the due and punctual payment and performance of all obligations and liabilities (whether absolute, contingent or otherwise) owed by Buyer to Beneficiary and its Affiliates and their directors, officers agents and employees under the Purchase Agreement (the “Liabilities and Obligations”).

 

2.         Nature of Guaranty.  Guarantor agrees that this Guaranty is an absolute, unconditional, present and continuing guarantee of payment
and performance, not of collection, and that its obligations under this Guaranty shall be primary obligations, it being agreed by
Guarantor that its obligations under this Guaranty shall not be discharged until the payment and performance in full of the
Liabilities and Obligations by Buyer or Guarantor. Guarantor expressly waives all rights it may have now or in the future under
any statute, or at common law, or at law or in equity, or otherwise, to compel the Beneficiary to proceed in respect of the Liabilities and Obligations against Buyer or any other party or against any security for the payment and performance of the Liabilities and Obligations before proceeding against, or as a condition to proceeding against, Guarantor.  In no event shall the Beneficiary have any obligation (although it is entitled, at its option) to proceed against Buyer before seeking satisfaction from Guarantor.  The Beneficiary may proceed under the Purchase Agreement, prior or subsequent to, or simultaneously with, the enforcement of the Beneficiary’s rights hereunder.

 

1

3.         Waiver.  Guarantor unconditionally waives (but only in its capacity as Guarantor and not as a party to the Purchase Agreement), to the fullest extent permitted by law, (a) notice of any matters described herein, (b) all notices which may be required by statute, rule or law to preserve intact any rights against Guarantor, including, without limitation, any demand, presentment and protest, proof of notice of nonpayment under the Purchase Agreement and notice of default or any failure of Buyer to perform or comply with any term, covenant or condition of the Purchase Agreement, (c) any requirement of diligence or to exhaust any remedies or to mitigate damages resulting from default under the Purchase Agreement, (d) any defense based on any statute of limitations, and (e) any other
circumstance whatsoever which might otherwise constitute a legal or equitable discharge, release or defense of a guarantor or surety or which might otherwise limit recourse against Guarantor.  Beneficiary, in its sole discretion, may, without any prejudice to its rights under this Guaranty, at any time or times, without notice to or the consent of Guarantor, modify or amend Buyer’s Liabilities or Obligations under the Purchase Agreement.  The provisions of this Guaranty are for the benefit of the Beneficiary, and nothing herein contained shall impair, as between Buyer and the Beneficiary, the obligations of Buyer under the Purchase Agreement.

 

4.         Continued Effectiveness.  This Guaranty shall remain in full force and effect and continue to be effective in the event any petition is filed by or against Buyer or Guarantor for dissolution, liquidation or reorganization; in the event Buyer or Guarantor becomes insolvent or makes an assignment for the benefit of creditors; in the event a receiver or trustee is appointed for all or any significant part of Buyer or Guarantor’s assets; and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Liabilities and Obligations, or any part hereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by the Beneficiary, whether as a “voidable preference,”
“fraudulent conveyance,” or otherwise, all as though such payment or performance had not been made.  In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Liabilities and Obligations shall be reinstated and deemed reduced only by such amount paid or performed and not so rescinded, reduced, restored or returned.

 

5.         Miscellaneous.

 

(a)       Representations and Warranties.  The representations and warranties of Guarantor in Section 3(c)(i)-(iii) in the Purchase Agreement are incorporated herein by reference and repeated mutatis mutandis with respect to Guarantor in its capacity as Guarantor, as if fully set forth herein.

 

2

(b)       Entire Agreement.  This Guaranty (including the documents referred to herein), and the Purchase Agreement (and Exhibits, Annexes and Schedules thereto, including the Venture Agreement) constitute the entire agreement between Guarantor and Beneficiary relating to the Acquisition and supersedes any other prior understandings, agreements, or representations made by or among the Guarantor or the Beneficiary, written or oral, to the extent they have related in any way to the subject matter hereof.

 

(c)       Capitalized Terms.  Capitalized terms not defined herein have the meanings given to them in the Purchase Agreement.

 

(d)       Succession and Assignment.  This Guaranty shall inure to the benefit of the Beneficiary and its successors and assigns and shall be binding on Guarantor and its successors and permitted assigns.  Guarantor shall not assign, delegate or otherwise transfer its obligations hereunder, in whole or in part, and any attempt to so transfer in violation of the foregoing shall be void ab initio.  Guarantor acknowledges and agrees that Beneficiary may assign its rights hereunder to any member of the Rio Tinto Group.

 

(e)       Headings.  The section headings contained in this Guaranty are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Guaranty.

 

(f)        Notices.  All notices, requests, demands, claims, and other communications hereunder will be in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given if (and then three business days after) it is sent by registered or certified mail, return receipt requested, postage prepaid, and addressed to the intended recipient as set forth below:

 

If to Beneficiary:

 

Kennecott Minerals Holdings Company

224 North 2200 West

Salt Lake City, Utah 84116

Attention:  President

 

If to Guarantor:

 

Hecla Mining Company

6500 Mineral Drive, Suite 200

Coeur d’Alene, Idaho  83815

Attention:  CEO & President

 

3

Any notice, request, demand, claim, or other communication hereunder may be sent to the intended recipient at the address set forth above using any other means (including personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other communication shall be deemed to have been duly given unless and until it actually is received by the intended recipient. Guarantor's and Beneficiary’s respective addresses set forth in this Section may be changed by written notice given to the other party in accordance with this Section.  

 

(g)       WAIVER OF RIGHT TO JURY TRIAL.  GUARANTOR AND, BY ITS ACCEPTANCE OF THIS GUARANTY, BENEFICIARY, EACH IRREVOCABLY WAIVES ALL RIGHTS TO A JURY TRIAL IN ANY ACTION, SUIT, OR PROCEEDING OF ANY KIND DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY RELATING TO THIS GUARANTY.  THE JURY TRIAL WAIVER CONTAINED IN THIS SECTION IS INTENDED TO APPLY, TO THE FULLEST EXTENT PERMITTED BY LAW, TO ANY AND ALL DISPUTES AND CONTROVERSIES THAT ARISE OUT OF OR IN ANY WAY RELATE TO ANY OR ALL OF THE MATTERS DESCRIBED IN THE PRECEDING SENTENCE, INCLUDING WITHOUT LIMITATION CONTRACT CLAIMS, TORT CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS OF ANY KIND.  THIS GUARANTY MAY BE FILED WITH ANY COURT OF COMPETENT
JURISDICTION AS GUARANTOR'S WRITTEN CONSENT TO GUARANTOR'S WAIVER OF A JURY TRIAL.  

 

(h)       Governing Law.  This Guaranty shall be governed by and construed in accordance with the domestic laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York.  

 

(i)        Amendments and Waivers.  No amendment of any provision of this Guaranty shall be valid unless the same shall be in writing and signed by Guarantor and Beneficiary.  No waiver by Beneficiary of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence.

 

(j)        Severability.  Any term or provision of this Guaranty that is invalid or unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction.

 

4

(k)       Construction.  Guarantor and Beneficiary have participated jointly in the negotiation and drafting of this Guaranty.  In the event an ambiguity or question of intent or interpretation arises, this Guaranty shall be construed as if drafted jointly by Guarantor and Beneficiary and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Guaranty.  Any reference to any federal, state, local, or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise.  The word “including” shall mean including without limitation.

 

Guarantor has executed this Guaranty to be effective as of the day and year first above written.

 

	
             
 	
             
 	
            GUARANTOR:
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
            HECLA MINING COMPANY
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 	
            By:
 	
            /s/ Lewis E. Walde
 
	
             
 	
             
 	
             
 	
            Its:
 	
            Vice President and CFO
 

 

 

5ex41.htm

    

     

    BERRY
PLASTICS CORPORATION,

     

     

    as
Issuer,

     

     

    and
certain Note Guarantors

     

     

    First
Priority Senior Secured Floating Rate Notes due 2015

     

     

    ________________________

     

     

    INDENTURE

     

     

    Dated as
of April 21, 2008

     

     

    ________________________

     

     

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

     

     

    as
Trustee

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    TABLE OF
CONTENTS

     

    
      	 
      	 
      	
              Page

            
	
              ARTICLE
      1

            
	 
      	 
      	 
      
	
              DEFINITIONS
      AND INCORPORATION BY REFERENCE

            
	
              SECTION
      1.01.

            	
              Definitions

            	
              1

            
	
              SECTION
      1.02.

            	
              Other
      Definitions

            	
              29

            
	
              SECTION
      1.03.

            	
              Incorporation
      by Reference of Trust Indenture Act

            	
              31

            
	
              SECTION
      1.04.

            	
              Rules
      of Construction

            	
              31

            
	
              ARTICLE
      2

            
	 
      	 
      	 
      
	
              THE
      SECURITIES

            
	
              SECTION
      2.01.

            	
              Amount
      of Securities

            	
              32

            
	
              SECTION
      2.02.

            	
              Form
      and Dating

            	
              33

            
	
              SECTION
      2.03.

            	
              Execution
      and Authentication

            	
              33

            
	
              SECTION
      2.04.

            	
              Registrar
      and Paying Agent

            	
              33

            
	
              SECTION
      2.05.

            	
              Paying
      Agent to Hold Money in Trust

            	
              34

            
	
              SECTION
      2.06.

            	
              Holder
      Lists

            	
              34

            
	
              SECTION
      2.07.

            	
              Transfer
      and Exchange

            	
              34

            
	
              SECTION
      2.08.

            	
              Replacement
      Securities

            	
              35

            
	
              SECTION
      2.09.

            	
              Outstanding
      Securities

            	
              35

            
	
              SECTION
      2.10.

            	
              Temporary
      Securities

            	
              35

            
	
              SECTION
      2.11.

            	
              Cancellation

            	
              36

            
	
              SECTION
      2.12.

            	
              Defaulted
      Interest

            	
              36

            
	
              SECTION
      2.13.

            	
              CUSIP
      Numbers, ISINs, etc.

            	
              36

            
	
              SECTION
      2.14.

            	
              Calculation
      of Principal Amount of Securities

            	
              36

            
	
              ARTICLE
      3

            
	 
      	 
      	 
      
	
              REDEMPTION

            
	
              SECTION
      3.01.

            	
              Redemption

            	
              36

            
	
              SECTION
      3.02.

            	
              Applicability
      of Article

            	
              36

            
	
              SECTION
      3.03.

            	
              Notices
      to Trustee

            	
              36

            
	
              SECTION
      3.04.

            	
              Selection
      of Securities to Be Redeemed

            	
              37

            
	
              SECTION
      3.05.

            	
              Notice
      of Optional Redemption

            	
              37

            
	
              SECTION
      3.06.

            	
              Effect
      of Notice of Redemption

            	
              37

            
	
              SECTION
      3.07.

            	
              Deposit
      of Redemption Price

            	
              38

            
	
              SECTION
      3.08.

            	
              Securities
      Redeemed in Part

            	
              38

            
	
              ARTICLE
      4

            
	 
      	 
      	 
      
	
              COVENANTS

            
	
              SECTION
      4.01.

            	
              Payment
      of Securities

            	
              38

            
	
              SECTION
      4.02.

            	
              Reports
      and Other Information

            	
              38

            
	
              SECTION
      4.03.

            	
              Limitation
      on Incurrence of Indebtedness and Issuance of Disqualified Stock and
      Preferred Stock

            	
              39

            
	
              SECTION
      4.04.

            	
              Limitation
      on Restricted Payments

            	
              43

            
	
              SECTION
      4.05.

            	
              Dividend
      and Other Payment Restrictions Affecting Subsidiaries

            	
              47

            

    

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              SECTION
      4.06.

            	
              Asset
      Sales

            	
              49

            
	
              SECTION
      4.07.

            	
              Transactions
      with Affiliates

            	
              51

            
	
              SECTION
      4.08.

            	
              Change
      of Control

            	
              53

            
	
              SECTION
      4.09.

            	
              Compliance
      Certificate

            	
              55

            
	
              SECTION
      4.10.

            	
              Further
      Instruments and Acts

            	
              55

            
	
              SECTION
      4.11.

            	
              Future
      Note Guarantors

            	
              55

            
	
              SECTION
      4.12.

            	
              Liens

            	
              55

            
	
              SECTION
      4.13.

            	
              Maintenance
      of Office or Agency

            	
              55

            
	
              SECTION
      4.14.

            	
              Amendment
      of Security Documents

            	
              56

            
	
              SECTION
      4.15.

            	
              After-Acquired
      Property

            	
              56

            
	
              SECTION
      4.16.

            	
              Termination
      and Suspension of Certain Covenants

            	
              57

            
	
              ARTICLE
      5

            
	 
      	 
      	 
      
	
              SUCCESSOR
      COMPANY

            
	
              SECTION
      5.01.

            	
              When
      Issuer May Merge or Transfer Assets

            	
              57

            
	
              ARTICLE
      6

            
	 
      	 
      	 
      
	
              DEFAULTS
      AND REMEDIES

            
	
              SECTION
      6.01.

            	
              Events
      of Default

            	
              59

            
	
              SECTION
      6.02.

            	
              Acceleration

            	
              61

            
	
              SECTION
      6.03.

            	
              Other
      Remedies

            	
              61

            
	
              SECTION
      6.04.

            	
              Waiver
      of Past Defaults

            	
              61

            
	
              SECTION
      6.05.

            	
              Control
      by Majority

            	
              62

            
	
              SECTION
      6.06.

            	
              Limitation
      on Suits

            	
              62

            
	
              SECTION
      6.07.

            	
              Rights
      of the Holders to Receive Payment

            	
              62

            
	
              SECTION
      6.08.

            	
              Collection
      Suit by Trustee

            	
              62

            
	
              SECTION
      6.09.

            	
              Trustee
      May File Proofs of Claim

            	
              62

            
	
              SECTION
      6.10.

            	
              Priorities

            	
              63

            
	
              SECTION
      6.11.

            	
              Undertaking
      for Costs

            	
              63

            
	
              SECTION
      6.12.

            	
              Waiver
      of Stay or Extension Laws

            	
              63

            
	
              ARTICLE
      7

            
	 
      	 
      	 
      
	
              TRUSTEE

            
	
              SECTION
      7.01.

            	
              Duties
      of Trustee

            	
              63

            
	
              SECTION
      7.02.

            	
              Rights
      of Trustee

            	
              64

            
	
              SECTION
      7.03.

            	
              Individual
      Rights of Trustee

            	
              65

            
	
              SECTION
      7.04.

            	
              Trustee’s
      Disclaimer

            	
              65

            
	
              SECTION
      7.05.

            	
              Notice
      of Defaults

            	
              65

            
	
              SECTION
      7.06.

            	
              Reports
      by Trustee to the Holders

            	
              66

            
	
              SECTION
      7.07.

            	
              Compensation
      and Indemnity

            	
              66

            
	
              SECTION
      7.08.

            	
              Replacement
      of Trustee

            	
              66

            
	
              SECTION
      7.09.

            	
              Successor
      Trustee by Merger

            	
              67

            
	
              SECTION
      7.10.

            	
              Eligibility;
      Disqualification

            	
              67

            
	
              SECTION
      7.11.

            	
              Preferential
      Collection of Claims Against the Issuer

            	
              67

            

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              ARTICLE
      8

            
	 
      	 
      	 
      
	
              DISCHARGE
      OF INDENTURE; DEFEASANCE

            
	
              SECTION
      8.01.

            	
              Discharge
      of Liability on Securities; Defeasance

            	
              68

            
	
              SECTION
      8.02.

            	
              Conditions
      to Defeasance

            	
              69

            
	
              SECTION
      8.03.

            	
              Application
      of Trust Money

            	
              70

            
	
              SECTION
      8.04.

            	
              Repayment
      to Company

            	
              70

            
	
              SECTION
      8.05.

            	
              Indemnity
      for U.S. Government Obligations

            	
              70

            
	
              SECTION
      8.06.

            	
              Reinstatement

            	
              70

            
	
              ARTICLE
      9

            
	 
      	 
      	 
      
	
              AMENDMENTS
      AND WAIVERS

            
	
              SECTION
      9.01.

            	
              Without
      Consent of the Holders

            	
              70

            
	
              SECTION
      9.02.

            	
              With
      Consent of the Holders

            	
              71

            
	
              SECTION
      9.03.

            	
              Compliance
      with Trust Indenture Act

            	
              72

            
	
              SECTION
      9.04.

            	
              Revocation
      and Effect of Consents and Waivers

            	
              72

            
	
              SECTION
      9.05.

            	
              Notation
      on or Exchange of Securities

            	
              72

            
	
              SECTION
      9.06.

            	
              Trustee
      to Sign Amendments

            	
              72

            
	
              SECTION
      9.07.

            	
              Payment
      for Consent

            	
              73

            
	
              SECTION
      9.08.

            	
              Additional
      Voting Terms; Calculation of Principal Amount

            	
              73

            
	
              ARTICLE
      10

            
	 
      	 
      	 
      
	
              RANKING
      OF NOTE LIENS

            
	
              SECTION
      10.01.

            	
              Relative
      Rights

            	
              73

            
	
              ARTICLE
      11

            
	 
      	 
      	 
      
	
              COLLATERAL

            
	
              SECTION
      11.01.

            	
              Security
      Documents

            	
              74

            
	
              SECTION
      11.02.

            	
              Notes
      Collateral Agent

            	
              74

            
	
              SECTION
      11.03.

            	
              Authorization
      of Actions to Be Taken

            	
              75

            
	
              SECTION
      11.04.

            	
              Release
      of Liens

            	
              76

            
	
              SECTION
      11.05.

            	
              Filing,
      Recording and Opinions

            	
              77

            
	
              SECTION
      11.06.

            	
              [Intentionally
      omitted]

            	
              77

            
	
              SECTION
      11.07.

            	
              Powers
      Exercisable by Receiver or Trustee

            	
              77

            
	
              SECTION
      11.08.

            	
              Release
      Upon Termination of the Issuer’s Obligations

            	
              77

            
	
              SECTION
      11.09.

            	
              Designations

            	
              78

            
	
              SECTION
      11.10.

            	
              Taking
      and Destruction

            	
              78

            
	
              ARTICLE
      12

            
	 
      	 
      	 
      
	
              GUARANTEES

            
	
              SECTION
      12.01.

            	
              Guarantees

            	
              78

            
	
              SECTION
      12.02.

            	
              Limitation
      on Liability

            	
              80

            
	
              SECTION
      12.03.

            	
              Successors
      and Assigns

            	
              80

            
	
              SECTION
      12.04.

            	
              No
      Waiver

            	
              80

            
	
              SECTION
      12.05.

            	
              Modification

            	
              80

            
	
              SECTION
      12.06.

            	
              Execution
      of Supplemental Indenture for Future Note Guarantors

            	
              81

            
	
              SECTION
      12.07.

            	
              Non-Impairment

            	
              81

            

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              ARTICLE
      13

            
	 
      	 
      	 
      
	
              MISCELLANEOUS

            
	
              SECTION
      13.01.

            	
              Trust
      Indenture Act Controls

            	
              81

            
	
              SECTION
      13.02.

            	
              Notices

            	
              81

            
	
              SECTION
      13.03.

            	
              Communication
      by the Holders with Other Holders

            	
              82

            
	
              SECTION
      13.04.

            	
              Certificate
      and Opinion as to Conditions Precedent

            	
              82

            
	
              SECTION
      13.05.

            	
              Statements
      Required in Certificate or Opinion

            	
              82

            
	
              SECTION
      13.06.

            	
              When
      Securities Disregarded

            	
              83

            
	
              SECTION
      13.07.

            	
              Rules
      by Trustee, Paying Agent and Registrar

            	
              83

            
	
              SECTION
      13.08.

            	
              Legal
      Holidays

            	
              83

            
	
              SECTION
      13.09.

            	
              GOVERNING
      LAW

            	
              83

            
	
              SECTION
      13.10.

            	
              No
      Recourse Against Others

            	
              83

            
	
              SECTION
      13.11.

            	
              Successors

            	
              83

            
	
              SECTION
      13.12.

            	
              Multiple
      Originals

            	
              83

            
	
              SECTION
      13.13.

            	
              Table
      of Contents; Headings

            	
              83

            
	
              SECTION
      13.14.

            	
              Indenture
      Controls

            	
              83

            
	
              SECTION
      13.15.

            	
              Severability

            	
              83

            

    

     

    

     

    
    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

     

    
      	
              Appendix
      A

            	
              –

            	
              Provisions
      Relating to Initial Securities, Additional Securities
  and

            

    

    
      	 
      	
              Exchange
      Securities

            

    

     

    EXHIBIT
INDEX

     

    Exhibit A
– Form of Initial Security

     

    Exhibit B
– Form of Exchange Security

     

    Exhibit C
– Form of Transferee Letter of Representation

     

    Exhibit D
– Form of Supplemental Indenture

    
    

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    CROSS-REFERENCE
TABLE

     

    
      	
              TIA

              Section

            	 
      	
              Indenture

              Section

            
	
              310

            	
              (a)(1)                                                                                                                  

            	
              7.10

            
	 
      	
              (a)(2)                                                                                                                  

            	
              7.10

            
	 
      	
              (a)(3)                                                                                                                  

            	
              N.A.

            
	 
      	
              (a)(4)                                                                                                                  

            	
              N.A.

            
	 
      	
              (b)                                                                                                                  

            	
              7.08;
      7.10

            
	 
      	
              (c)                                                                                                                  

            	
              N.A.

            
	
              311

            	
              (a)                                                                                                                  

            	
              7.11

            
	 
      	
              (b)                                                                                                                  

            	
              7.11

            
	 
      	
              (c)                                                                                                                  

            	
              N.A.

            
	
              312

            	
              (a)                                                                                                                  

            	
              2.06

            
	 
      	
              (b)                                                                                                                  

            	
              13.03

            
	 
      	
              (c)                                                                                                                  

            	
              13.03

            
	
              313

            	
              (a)                                                                                                                  

            	
              7.06

            
	 
      	
              (b)(1)                                                                                                                  

            	
              N.A.

            
	 
      	
              (b)(2)                                                                                                                  

            	
              7.06

            
	 
      	
              (c)                                                                                                                  

            	
              7.06

            
	 
      	
              (d)                                                                                                                  

            	
              4.02;
      4.09

            
	
              314

            	
              (a)                                                                                                                  

            	
              4.02;
      4.09

            
	 
      	
              (b)                                                                                                                  

            	
              N.A.

            
	 
      	
              (c)(1)                                                                                                                  

            	
              13.04

            
	 
      	
              (c)(2)                                                                                                                  

            	
              13.04

            
	 
      	
              (c)(3)                                                                                                                  

            	
              N.A.

            
	 
      	
              (d)                                                                                                                  

            	
              N.A.

            
	 
      	
              (e)                                                                                                                  

            	
              13.05

            
	 
      	
              (f)                                                                                                                  

            	
              4.10

            
	
              315

            	
              (a)                                                                                                                  

            	
              7.01

            
	 
      	
              (b)                                                                                                                  

            	
              7.05

            
	 
      	
              (c)                                                                                                                  

            	
              7.01

            
	 
      	
              (d)                                                                                                                  

            	
              7.01

            
	 
      	
              (e)                                                                                                                  

            	
              6.11

            
	
              316

            	
              (a)(last
      sentence)                                                                                                                  

            	
              13.06

            
	 
      	
              (a)(1)(A)                                                                                                                  

            	
              6.05

            
	 
      	
              (a)(1)(B)                                                                                                                  

            	
              6.04

            
	 
      	
              (a)(2)                                                                                                                  

            	
              N.A.

            
	 
      	
              (b)                                                                                                                  

            	
              6.07

            
	
              317

            	
              (a)(1)                                                                                                                  

            	
              6.08

            
	 
      	
              (a)(2)                                                                                                                  

            	
              6.09

            
	 
      	
              (b)                                                                                                                  

            	
              2.05

            
	
              318

            	
              (a)                                                                                                                  

            	
              13.01

            

    

    

    N.A.
Means Not Applicable.

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

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    INDENTURE
dated as of April 21, 2008 among BERRY PLASTICS CORPORATION, a Delaware
corporation (the “Issuer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a
national banking association, as trustee (the “Trustee”), and the Note
Guarantors (as defined herein).

     

    Each
party agrees as follows for the benefit of the other parties and for the equal
and ratable benefit of the Holders of (a) $680,600,000 aggregate principal
amount of the Issuer’s First Priority Senior Secured Floating Rate Notes due
2015 (the “Original Securities”) issued on the date hereof, (b) any Additional
Securities (as defined herein) that may be issued after the date hereof in the
form of Exhibit A (all such securities in clauses (a) and (b) being
referred to collectively as the “Initial Securities”) and (c) if and when issued
as provided in the Registration Agreement (as defined in Appendix A hereto (the
“Appendix”)) in the Registered Exchange Offer (as defined in the Appendix) in
exchange for any Initial Securities or otherwise registered under the Securities
Act and issued in the form of Exhibit B, $680,600,000 aggregate principal amount
of the Issuer’s First Priority Senior Secured Floating Rate Exchange Notes due
2015, (the “Exchange Securities” and, together with the Original Securities and
any Additional Securities, the “Securities”).  The Original
Securities, any Additional Securities (as defined herein) and the Exchange
Securities shall constitute a single series hereunder.  Subject to the
conditions and compliance with the covenants set forth herein, the Issuer may
issue an unlimited aggregate principal amount of Additional
Securities.

     

    ARTICLE
1

     

    DEFINITIONS
AND INCORPORATION BY REFERENCE

     

    SECTION
1.01. Definitions.

     

    “Acquired
Indebtedness” means, with respect to any specified Person:

     

    (1)           Indebtedness
of any other Person existing at the time such other Person is merged,
consolidated or amalgamated with or into or became a Restricted Subsidiary of
such specified Person, and

     

    (2)           Indebtedness
secured by a Lien encumbering any asset acquired by such specified
Person.

     

    “Acquisition
Documents” means the Captive Merger Agreement and any other document entered
into in connection therewith, in each case as amended, supplemented or modified
from time to time prior to the Issue Date or thereafter (so long as any
amendment, supplement or modification after the Issue Date, together with all
other amendments, supplements and modifications after the Issue Date, taken as a
whole, is not more disadvantageous to the Holders in any material respect than
the Acquisition Documents as in effect on the Issue Date).

     

    “Additional
Securities” means First Priority Senior Secured Floating Rate Notes due 2015
issued under the terms of this Indenture subsequent to the Issue Date, other
than the Exchange Securities.

     

    “Affiliate”
of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person.  For purposes of this definition, “control”
(including, with correlative meanings, the terms “controlling,” “controlled by”
and “under common control with”), as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise.

     

    “Applicable
Premium” means, with respect to any Security on any applicable redemption date,
the greater of:

     

    (1)           1%
of the then outstanding principal amount of the Security; and

     

    
      
        
          
            	
                     

                  

          

           

        

         

      

      
        1

        
          

        

      

      
         

      

    

    (2)           the
excess of:

     

    (a)           the
present value at such redemption date of (i) the redemption price of the
Security, at April 15, 2010 as set forth in Paragraph 5 of the applicable
Security plus (ii) all required interest payments due on such Security through
April 15, 2010 (excluding accrued but unpaid interest), computed (x) using the
interest rate in effect in respect of the Securities on the date the Issuer
delivers notice to the holders of its intention to redeem the Securities, and
(y) using a discount rate equal to the Treasury Rate as of such redemption date
plus 50 basis points; over

     

    (b)           the
then outstanding principal amount of the Security.

     

     “Asset
Sale” means:

     

    (1)           the
sale, conveyance, transfer or other disposition (whether in a single transaction
or a series of related transactions) of property or assets (including by way of
a Sale/Leaseback Transaction) outside the ordinary course of business of the
Issuer or any Restricted Subsidiary of the Issuer (each referred to in this
definition as a “disposition”) or

     

    (2)           the
issuance or sale of Equity Interests (other than directors’ qualifying shares
and shares issued to foreign nationals or other third parties to the extent
required by applicable law) of any Restricted Subsidiary (other than to the
Issuer or another Restricted Subsidiary of the Issuer) (whether in a single
transaction or a series of related transactions),

     

    in each
case other than:

     

    (a)           a
disposition of Cash Equivalents or Investment Grade Securities or obsolete or
worn out property or equipment in the ordinary course of business;

     

    (b)           the
disposition of all or substantially all of the assets of the Issuer in a manner
permitted pursuant to Section 5.01 or any disposition that constitutes a Change
of Control;

     

    (c)           any
Restricted Payment or Permitted Investment that is permitted to be made, and is
made, under Section 4.04;

     

    (d)           any
disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary, which assets or Equity Interests so disposed or issued have an
aggregate Fair Market Value of less than $7.5 million;

     

    (e)           any
disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Issuer to the Issuer or by the Issuer or a
Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the
Issuer;

     

    (f)           any
exchange of assets (including a combination of assets and Cash Equivalents) for
assets related to a Similar Business of comparable or greater market value or
usefulness to the business of the Issuer and its Restricted Subsidiaries as a
whole, as determined in good faith by the Issuer;

     

    (g)           foreclosure
on assets of the Issuer or any of its Restricted Subsidiaries;

     

    (h)           any
sale of Equity Interests in, or Indebtedness or other securities of, an
Unrestricted Subsidiary;

     

    (i)           the
lease, assignment or sublease of any real or personal property in the ordinary
course of business;

     

    (j)           any
sale of inventory or other assets in the ordinary course of
business;

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
        2

        
          

        

      

      
         

      

    

    (k)           any
grant in the ordinary course of business of any license of patents, trademarks,
know-how or any other intellectual property;

     

    (l)           a
transfer of accounts receivable and related assets of the type specified in the
definition of “Receivables Financing” (or a fractional undivided interest
therein) by a Receivables Subsidiary in a Qualified Receivables Financing;
and

     

    (m)           the
sale of any property in a Sale/Leaseback Transaction within six months of the
acquisition of such property.

     

       “Bank
Indebtedness” means any and all amounts payable under or in respect of any
Credit Agreement and any other Credit Agreement Documents as amended, restated,
supplemented, waived, replaced, restructured, repaid, refunded, refinanced or
otherwise modified from time to time (including after termination of any Credit
Agreement), including principal, premium (if any), interest (including interest
accruing on or after the filing of any petition in bankruptcy or for
reorganization relating to the Issuer whether or not a claim for post-filing
interest is allowed in such proceedings), fees, charges, expenses, reimbursement
obligations, guarantees and all other amounts payable thereunder or in respect
thereof.

     

    “Bankruptcy
Case” means a case under the Bankruptcy Code.

     

    “Bankruptcy
Code” means Title 11 of the United States Code.

     

    “Bankruptcy
Law” means the Bankruptcy Code and any similar federal, state or foreign law for
relief of debtors.

     

    “Board of
Directors” means, as to any Person, the board of directors or managers, as
applicable, of such Person (or, if such Person is a partnership, the board of
directors or other governing body of the general partner of such Person) or any
duly authorized committee thereof.

     

    “Bridge
Loan Administrative Agent” means Bank of America, N.A., in its capacity as
Bridge Loan Administrative Agent under the Bridge Loan Credit Agreement, and its
successors in substantially the same capacity as may from time to time be
appointed thereunder.

     

    “Bridge
Loan Collateral Agent” means Bank of America, N.A., in its capacity as Bridge
Loan Collateral Agent under the Bridge Loan Guarantee and Collateral Agreement
dated as of February 5, 2008 among the Issuer, subsidiaries of the Issuer party
thereto and the Bridge Loan Collateral Agent.

     

    “Bridge
Loan Credit Agreement” means the Senior Secured Bridge Loan Credit Agreement
dated as of February 5, 2008, by and among the Issuer, the agents and lenders
party thereto, the Bridge Loan Administrative Agent, as amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether
with the original lenders or otherwise), restructured, repaid, refunded,
refinanced or otherwise modified from time to time, including any agreement or
indenture extending the maturity thereof, refinancing, replacing or otherwise
restructuring all or any portion of the Indebtedness under such agreement or
agreements or indenture or indentures or any successor or replacement agreement
or agreements or indenture or indentures or increasing the amount loaned or
issued thereunder or altering the maturity thereof.

     

    “Business
Day” means a day other than a Saturday, Sunday or other day on which banking
institutions are authorized or required by law to close in New York
City.

     

    “Calculation
Agent” means a financial institution appointed by the Issuer to calculate the
interest rate payable on the Securities in respect of each Interest Period,
which shall initially be the Trustee.

     

    “Capital
Stock” means:

     

    (1)           in
the case of a corporation, corporate stock or shares;

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
        3

        
          

        

      

      
         

      

    

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

     

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

     

    (4)           any
other interest or participation that confers on a Person the right to receive a
share of the profits and losses of, or distributions of assets of, the issuing
Person.

     

    “Capitalized
Lease Obligation” means, at the time any determination thereof is to be made,
the amount of the liability in respect of a capital lease that would at such
time be required to be capitalized and reflected as a liability on a balance
sheet (excluding the footnotes thereto) in accordance with GAAP.

     

    “Captive
Acquisition” means the acquisition by the Issuer of substantially all of the
outstanding shares of Capital Stock of Captive Holdings, Inc. pursuant to the
Captive Merger Agreement.

     

    “Captive
Holdings” means Captive Holdings, LLC, a Delaware limited liability
company.

     

    “Captive
Merger Agreement” means the stock purchase agreement, dated as of
December 21, 2007, by and among the Issuer, Captive Holdings, Inc. and
Captive Holdings, as amended, supplemented or modified from time to time prior
to the Issue Date or thereafter (so long as any amendment, supplement or
modification after the Issue Date, together with all other amendments,
supplements and modifications after the Issue Date, taken as a whole, is not
more disadvantageous to the Holders in any material respect than the Captive
Merger Agreement as in effect on the Issue Date).

     

    “Cash
Contribution Amount” means the aggregate amount of cash contributions made to
the capital of the Issuer described in the definition of “Contribution
Indebtedness.”

     

    “Cash
Equivalents” means:

     

    (1)           U.S.
dollars, pounds sterling, euros, the national currency of any member state in
the European Union or, in the case of any Foreign Subsidiary that is a
Restricted Subsidiary, such local currencies held by it from time to time in the
ordinary course of business;

     

    (2)           securities
issued or directly and fully guaranteed or insured by the U.S. government or any
country that is a member of the European Union or any agency or instrumentality
thereof in each case maturing not more than two years from the date of
acquisition;

     

    (3)           certificates
of deposit, time deposits and eurodollar time deposits with maturities of one
year or less from the date of acquisition, bankers’ acceptances, in each case
with maturities not exceeding one year and overnight bank deposits, in each case
with any commercial bank having capital and surplus in excess of $250.0 million
and whose long-term debt is rated “A” or the equivalent thereof by Moody’s or
S&P (or reasonably equivalent ratings of another internationally recognized
ratings agency);

     

    (4)           repurchase
obligations for underlying securities of the types described in clauses (2) and
(3) above entered into with any financial institution meeting the qualifications
specified in clause (3) above;

     

    (5)           commercial
paper issued by a corporation (other than an Affiliate of the Issuer) rated at
least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably
equivalent ratings of another internationally recognized ratings agency) and in
each case maturing within one year after the date of acquisition;

     

    (6)           readily
marketable direct obligations issued by any state of the United States of
America or any political subdivision thereof having one of the two highest
rating categories obtainable from either

     

    
      
        
          

          
            	
                     

                  

          

        

         

      

      
        4

        
          

        

      

      
         

      

    

    Moody’s
or S&P (or reasonably equivalent ratings of another internationally
recognized ratings agency) in each case with maturities not exceeding two years
from the date of acquisition;

     

    (7)           Indebtedness
issued by Persons (other than the Sponsors or any of their Affiliates) with a
rating of “A” or higher from S&P or “A-2” or higher from Moody’s in each
case with maturities not exceeding two years from the date of acquisition;
and

     

    (8)           investment
funds investing at least 95% of their assets in securities of the types
described in clauses (1) through (7) above.

     

     “Change
of Control” means the occurrence of any of the following events:

     

                    (i)the sale, lease or transfer, in one
or a series of related transactions, of all or substantially all the assets of
the Issuer and its Subsidiaries, taken as a whole, to a Person other than any of
the Permitted Holders; or

     

                    (ii)the Issuer becomes aware (by way of a
report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy,
vote, written notice or otherwise) of the acquisition by any Person or group
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act,
or any successor provision), including any group acting for the purpose of
acquiring, holding or disposing of securities (within the meaning of Rule
13d-5(b)(1) under the Exchange Act), other than any of the Permitted Holders, in
a single transaction or in a related series of transactions, by way of merger,
consolidation or other business combination or purchase of beneficial ownership
(within the meaning of Rule 13d-3 under the Exchange Act, or any successor
provision), of more than 50% of the total voting power of the Voting Stock of
the Issuer or any direct or indirect parent of the Issuer.

     

     “Code”
means the Internal Revenue Code of 1986, as amended.

     

    “Collateral”
means all property subject or purported to be subject, from time to time, to a
Lien under any Security Documents.

     

    “Collateral
Agreement” means that certain Collateral Agreement, dated as of the date hereof,
by and between the Issuer, the Notes Collateral Agent, and certain Subsidiaries
of the Issuer party thereto.

     

    “Company”
means the Issuer until a successor replaces it and, thereafter, means the
successor and, for purposes of any provision contained herein and required by
the TIA, each other Obligor on the Securities.

     

     “consolidated”
means, with respect to any Person, such Person consolidated with its Restricted
Subsidiaries, and shall not include any Unrestricted Subsidiary, but the
interest of such Person in an Unrestricted Subsidiary shall be accounted for as
an Investment.

     

     “Consolidated
Interest Expense” means, with respect to any Person for any period, the sum,
without duplication, of:

     

    (1)           consolidated
interest expense of such Person and its Restricted Subsidiaries for such period,
to the extent such expense was deducted in computing Consolidated Net Income
(including amortization of original issue discount, the interest component of
Capitalized Lease Obligations, and net payments and receipts (if any) pursuant
to interest rate Hedging Obligations and excluding amortization of deferred
financing fees and expensing of any bridge or other financing fees); plus

     

    (2)           consolidated
capitalized interest of such Person and its Restricted Subsidiaries for such
period, whether paid or accrued; plus

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
        5

        
          

        

      

      
         

      

    

    (3)           commissions,
discounts, yield and other fees and charges Incurred in connection with any
Receivables Financing which are payable to Persons other than the Issuer and its
Restricted Subsidiaries; minus

     

    (4)           interest
income for such period.

     

    “Consolidated
Net Income” means, with respect to any Person for any period, the aggregate of
the Net Income of such Person and its Restricted Subsidiaries for such period,
on a consolidated basis; provided, however, that:

     

    (1)           any
net after-tax extraordinary, nonrecurring or unusual gains or losses or income,
expenses or charges (less all fees and expenses relating thereto), including,
without limitation, any severance expenses, any expenses related to any
reconstruction, recommissioning or reconfiguration of fixed assets for alternate
uses any fees, expenses or charges relating to new product lines, plant shutdown
costs, acquisition integration costs and any expenses or charges related to any
Equity Offering, Permitted Investment, acquisition or Indebtedness permitted to
be Incurred by this Indenture (in each case, whether or not successful),
including any such fees, expenses, charges or change in control payments made
under the Acquisition Documents or otherwise related to the Transactions, in
each case, shall be excluded;

     

    (2)           any
increase in amortization or depreciation or any one-time non-cash charges or
increases or reductions in Net Income, in each case resulting from purchase
accounting in connection with the Transactions or any acquisition that is
consummated after the Issue Date shall be excluded;

     

    (3)           the
Net Income for such period shall not include the cumulative effect of a change
in accounting principles during such period;

     

    (4)           any
net after-tax income or loss from discontinued operations and any net after-tax
gains or losses on disposal of discontinued operations shall be
excluded;

     

    (5)           any
net after-tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to business dispositions or asset dispositions other than
in the ordinary course of business (as determined in good faith by the Board of
Directors of the Issuer) shall be excluded;

     

    (6)           any
net after-tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to the early extinguishment of indebtedness shall be
excluded;

     

    (7)           the
Net Income for such period of any Person that is not a Subsidiary of such
Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity
method of accounting, shall be included only to the extent of the amount of
dividends or distributions or other payments paid in cash (or to the extent
converted into cash) to the referent Person or a Restricted Subsidiary thereof
in respect of such period;

     

    (8)           solely
for the purpose of determining the amount available for Restricted Payments
under clause (1) of the definition of Cumulative Credit, the Net Income for such
period of any Restricted Subsidiary (other than any Note Guarantor) shall be
excluded to the extent that the declaration or payment of dividends or similar
distributions by such Restricted Subsidiary of its Net Income is not at the date
of determination permitted without any prior governmental approval (which has
not been obtained) or, directly or indirectly, by the operation of the terms of
its charter or any agreement, instrument, judgment, decree, order, statute, rule
or governmental regulation applicable to that Restricted Subsidiary or its
stockholders, unless such restrictions with respect to the payment of dividends
or similar distributions have been legally waived; provided that the
Consolidated Net Income of such Person shall be increased by the amount of
dividends or other distributions or other payments actually paid in cash (or
converted into cash) by any such Restricted Subsidiary to such Person, to the
extent not already included therein;

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
        6

        
          

        

      

      
         

      

    

    (9)           an
amount equal to the amount of Tax Distributions actually made to any parent of
such Person in respect of such period in accordance with Section 4.04(b)(xii)
shall be included as though such amounts had been paid as income taxes directly
by such Person for such period;

     

    (10)           any
non-cash impairment charges resulting from the application of Statement of
Financial Accounting Standards (“SFAS”) Nos. 142 and 144 and the amortization of
intangibles arising pursuant to SFAS No. 141 shall be excluded;

     

    (11)           any
non-cash expense realized or resulting from stock option plans, employee benefit
plans or post-employment benefit plans, grants of stock appreciation or similar
rights, stock options or other rights to officers, directors and employees of
such Person or any of its Restricted Subsidiaries shall be
excluded;

     

    (12)           any
(a) severance or relocation costs or expenses, (b) one-time non-cash
compensation charges, (c) the costs and expenses after the Issue Date related to
employment of terminated employees, (d) costs or expenses realized in connection
with, resulting from or in anticipation of the Transactions or (e) costs or
expenses realized in connection with or resulting from stock appreciation or
similar rights, stock options or other rights existing on the Issue Date of
officers, directors and employees, in each case of such Person or any of its
Restricted Subsidiaries, shall be excluded;

     

    (13)           accruals
and reserves that are established within 12 months after the Issue Date and that
are so required to be established in accordance with GAAP shall be
excluded;

     

    (14)           solely
for purposes of calculating EBITDA, (a) the Net Income of any Person and its
Restricted Subsidiaries shall be calculated without deducting the income
attributable to, or adding the losses attributable to, the minority equity
interests of third parties in any non-wholly-owned Restricted Subsidiary except
to the extent of dividends declared or paid in respect of such period or any
prior period on the shares of Capital Stock of such Restricted Subsidiary held
by such third parties and (b) any ordinary course dividend, distribution or
other payment paid in cash and received from any Person in excess of amounts
included in clause (7) above shall be included;

     

    (15)           (a)(i)
the non-cash portion of “straight-line” rent expense shall be excluded and (ii)
the cash portion of “straight-line” rent expense which exceeds the amount
expensed in respect of such rent expense shall be included and (b) non-cash
gains, losses, income and expenses resulting from fair value accounting required
by SFAS No. 133 shall be excluded;

     

    (16)           unrealized
gains and losses relating to hedging transactions and mark-to-market of
Indebtedness denominated in foreign currencies resulting from the applications
of SFAS 52 shall be excluded; and

     

    (17)           solely
for the purpose of calculating Restricted Payments, the difference, if positive,
of the Consolidated Taxes of the Issuer calculated in accordance with GAAP and
the actual Consolidated Taxes paid in cash by the Issuer during any Reference
Period shall be included.

     

    Notwithstanding
the foregoing, for the purpose of Section 4.04 only, there shall be excluded
from Consolidated Net Income any dividends, repayments of loans or advances or
other transfers of assets from Unrestricted Subsidiaries of the Issuer or a
Restricted Subsidiary of the Issuer to the extent such dividends, repayments or
transfers increase the amount of Restricted Payments permitted under clauses (E)
and (F) of the definition of “Cumulative Credit.”

     

    “Consolidated
Non-cash Charges” means, with respect to any Person for any period, the
aggregate depreciation, amortization and other non-cash expenses of such Person
and its Restricted Subsidiaries reducing Consolidated Net Income of such Person
for such period on a consolidated basis and otherwise determined in accordance
with GAAP, but excluding any such charge which consists of or requires an
accrual of, or cash reserve for, anticipated cash charges for any future
period.

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
        7

        
          

        

      

      
         

      

    

    “Consolidated
Taxes” means provision for taxes based on income, profits or capital, including,
without limitation, state, franchise and similar taxes and any Tax Distributions
taken into account in calculating Consolidated Net Income.

     

    “Contingent
Obligations” means, with respect to any Person, any obligation of such Person
guaranteeing any leases, dividends or other obligations that do not constitute
Indebtedness (“primary obligations”) of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, including, without limitation,
any obligation of such Person, whether or not contingent:

     

    (1)           to
purchase any such primary obligation or any property constituting direct or
indirect security therefor,

     

    (2)           to
advance or supply funds:

     

    (a)           for
the purchase or payment of any such primary obligation; or

     

    (b)           to
maintain working capital or equity capital of the primary obligor or otherwise
to maintain the net worth or solvency of the primary obligor; or

     

    (3)           to
purchase property, securities or services primarily for the purpose of assuring
the owner of any such primary obligation of the ability of the primary obligor
to make payment of such primary obligation against loss in respect
thereof.

     

    “Contribution
Indebtedness” means Indebtedness of the Issuer or any Note Guarantor in an
aggregate principal amount not greater than twice the aggregate amount of cash
contributions (other than Excluded Contributions) made to the capital of the
Issuer or such Note Guarantor after the Issue Date; provided that:

     

    (1)           such
cash contributions have not been used to make a Restricted Payment,

     

    (2)           if
the aggregate principal amount of such Contribution Indebtedness is greater than
the aggregate amount of such cash contributions to the capital of the Issuer or
such Note Guarantor, as the case may be, the amount in excess shall be
Indebtedness (other than Secured Indebtedness) with a Stated Maturity later than
the Stated Maturity of the Securities, and

     

    (3)           such
Contribution Indebtedness (a) is Incurred within 180 days after the making of
such cash contributions and (b) is so designated as Contribution Indebtedness
pursuant to an Officers’ Certificate on the Incurrence date
thereof.

     

    “Credit
Agreement Documents” means the collective reference to the Credit Agreements,
any notes issued pursuant thereto and the guarantees thereof, and the collateral
documents relating thereto, as amended, supplemented, restated, renewed,
refunded, replaced, restructured, repaid, refinanced or otherwise modified from
time to time.

     

    “Credit
Agreements” means (i)(A) the Term Loan Credit Agreement and (B) the
Revolving Credit Agreement, and (ii) whether or not the credit agreements
referred to in clause (i) remain outstanding, if designated by the Issuer
to be included in the definition of “Credit Agreement,” one or more
(A) debt facilities or commercial paper facilities, providing for revolving
credit loans, term loans, receivables financing (including through the sale of
receivables to lenders or to special purpose entities formed to borrow from
lenders against such receivables) or letters of credit, (B) debt
securities, indentures or other forms of debt financing (including convertible
or exchangeable debt instruments or bank guarantees or bankers’ acceptances), or
(C) instruments or agreements evidencing any other Indebtedness, in each
case, with the same or different borrowers or issuers and, in each case, as
amended, supplemented, modified, extended, restructured, renewed, refinanced,
restated, replaced or refunded in whole or in part from time to
time.

     

    
      
        
          

          
            	
                     

                  

          

           

        

         

      

      
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    “Cumulative
Credit” means the sum of (without duplication):

     

    (A)           50%
of the Consolidated Net Income of the Issuer for the period (taken as one
accounting period, the “Reference Period”) from April 1, 2008 to the end of the
Issuer’s most recently ended fiscal quarter for which internal financial
statements are available at the time of such Restricted Payment (or, in the case
such Consolidated Net Income for such period is a deficit, minus 100% of such
deficit), plus

     

    (B)           100%
of the aggregate net proceeds, including cash and the Fair Market Value (as
determined in good faith by the Issuer) of property other than cash, received by
the Issuer after the Issue Date from the issue or sale of Equity Interests of
the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock,
Excluded Contributions, Disqualified Stock and the Cash Contribution Amount),
including Equity Interests issued upon conversion of Indebtedness or
Disqualified Stock or upon exercise of warrants or options (other than an
issuance or sale to a Restricted Subsidiary of the Issuer or an employee stock
ownership plan or trust established by the Issuer or any of its Subsidiaries),
plus

     

    (C)           100%
of the aggregate amount of contributions to the capital of the Issuer received
in cash and the Fair Market Value (as determined in good faith by the Issuer) of
property other than cash after the Issue Date (other than Excluded
Contributions, Refunding Capital Stock, Designated Preferred Stock, Disqualified
Stock and the Cash Contribution Amount), plus

     

    (D)           the
principal amount of any Indebtedness, or the liquidation preference or maximum
fixed repurchase price, as the case may be, of any Disqualified Stock of the
Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other
than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which
has been converted into or exchanged for Equity Interests in the Issuer (other
than Disqualified Stock) or any direct or indirect parent of the Issuer
(provided in the case of any parent, such Indebtedness or Disqualified Stock is
retired or extinguished), plus

     

    (E)           100%
of the aggregate amount received by the Issuer or any Restricted Subsidiary in
cash and the Fair Market Value (as determined in good faith by the Issuer) of
property other than cash received by the Issuer or any Restricted Subsidiary
after the Issue Date from:

     

                    (I)the sale or other disposition (other
than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted
Investments made by the Issuer and its Restricted Subsidiaries and from
repurchases and redemptions of such Restricted Investments from the Issuer and
its Restricted Subsidiaries by any Person (other than the Issuer or any of its
Restricted Subsidiaries) and from repayments of loans or advances which
constituted Restricted Investments (other than in each case to the extent that
the Restricted Investment was made pursuant to clause (vii) or (x) of Section
4.04(b)),

     

                    (II)the sale (other than to the Issuer or
a Restricted Subsidiary of the Issuer) of the Capital Stock of an Unrestricted
Subsidiary, or

     

                    (III)a distribution or dividend from an
Unrestricted Subsidiary, plus

     

    (F)           in
the event any Unrestricted Subsidiary of the Issuer has been redesignated as a
Restricted Subsidiary or has been merged, consolidated or amalgamated with or
into, or transfers or conveys its assets to, or is liquidated into, the Issuer
or a Restricted Subsidiary, in each case after the Issue Date, the Fair Market
Value (as determined in good faith by the Issuer or, if such Fair Market Value
may exceed $25.0 million, in writing by an Independent Financial Advisor) of the
Investment of the Issuer in such Unrestricted Subsidiary at the time of such
redesignation, combination or transfer (or of the assets transferred or
conveyed, as applicable), after taking into account any Indebtedness associated
with the Unrestricted Subsidiary so designated or combined or any Indebtedness
associated with the assets so transferred or conveyed (other than in each case
to the extent that the designation of such Subsidiary as an Unrestricted
Subsidiary was made pursuant to clause (vii) or (x) of Section 4.04(b) or
constituted a Permitted Investment).

     

    
      
        
          

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

     

    “Designated
Non-cash Consideration” means the Fair Market Value of non-cash consideration
received by the Issuer or one of its Restricted Subsidiaries in connection with
an Asset Sale that is so designated as Designated Non-cash Consideration
pursuant to an Officers’ Certificate, setting forth the basis of such valuation,
less the amount of Cash Equivalents received in connection with a subsequent
sale of such Designated Non-cash Consideration.

     

    “Designated
Preferred Stock” means Preferred Stock of the Issuer or any direct or indirect
parent of the Issuer (other than Disqualified Stock), that is issued for cash
(other than to the Issuer or any of its Subsidiaries or an employee stock
ownership plan or trust established by the Issuer or any of its Subsidiaries)
and is so designated as Designated Preferred Stock, pursuant to an Officers’
Certificate, on the issuance date thereof.

     

    “Destruction”
means any damage to, loss or destruction of all or any portion of the
Collateral.

     

    “Determination
Date” with respect to an Interest Period will be the second London Banking Day
preceding the first day of such Interest Period.

     

    “Disqualified
Stock” means, with respect to any Person, any Capital Stock of such Person
which, by its terms (or by the terms of any security into which it is
convertible or for which it is redeemable or exchangeable), or upon the
happening of any event:

     

    (1)           matures
or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise
(other than as a result of a change of control or asset sale; provided that the relevant
asset sale or change of control provisions, taken as a whole, are no more
favorable in any material respect to holders of such Capital Stock than the
asset sale and change of control provisions applicable to the Securities and any
purchase requirement triggered thereby may not become operative until compliance
with the asset sale and change of control provisions applicable to the
Securities (including the purchase of any Securities tendered pursuant
thereto)),

     

    (2)           is
convertible or exchangeable for Indebtedness or Disqualified Stock of such
Person, or

     

    (3)           is
redeemable at the option of the holder thereof, in whole or in
part,

     

    in each
case prior to 91 days after the maturity date of the Securities; provided, however, that only the
portion of Capital Stock which so matures or is mandatorily redeemable, is so
convertible or exchangeable or is so redeemable at the option of the holder
thereof prior to such date shall be deemed to be Disqualified Stock; provided, further, however, that if
such Capital Stock is issued to any employee or to any plan for the benefit of
employees of the Issuer or its Subsidiaries or by any such plan to such
employees, such Capital Stock shall not constitute Disqualified Stock solely
because it may be required to be repurchased by the Issuer in order to satisfy
applicable statutory or regulatory obligations or as a result of such employee’s
termination, death or disability; provided, further, that any class of
Capital Stock of such Person that by its terms authorizes such Person to satisfy
its obligations thereunder by delivery of Capital Stock that is not Disqualified
Stock shall not be deemed to be Disqualified Stock.

     

    “Domestic
Subsidiary” means a Restricted Subsidiary that is not a Foreign Subsidiary, a
Qualified CFC Holding Company, Berry Plastics Acquisition Corporation II or
Berry Plastics Acquisition Corporation XIV, LLC.

     

    “EBITDA”
means, with respect to any Person for any period, the Consolidated Net Income of
such Person for such period plus, without duplication, to the extent the same
was deducted in calculating Consolidated Net Income:

     

    (1)           Consolidated
Taxes; plus

     

    
      
        
          

          
            	
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    (2)           Consolidated
Interest Expense; plus

     

    (3)           Consolidated
Non-cash Charges; plus

     

    (4)           business
optimization expenses and other restructuring charges or expenses (which, for
the avoidance of doubt, shall include, without limitation, the effect of
inventory optimization programs, plant closures, retention, systems
establishment costs and excess pension charges); provided that with respect to
each business optimization expense or other restructuring charge, the Issuer
shall have delivered to the Trustee an Officers’ Certificate specifying and
quantifying such expense or charge and stating that such expense or charge is a
business optimization expense or other restructuring charge, as the case may be;
plus

     

    (5)           the
amount of management, monitoring, consulting and advisory fees and related
expenses paid to the Sponsors (or any accruals relating to such fees and related
expenses) during such period pursuant to the terms of the agreements between the
Sponsors and the Issuer and its Subsidiaries as described with particularity in
the Offering Memorandum and as in effect on the Issue Date;

     

    

     

    less, without
duplication,

     

    (6)           non-cash
items increasing Consolidated Net Income for such period (excluding the
recognition of deferred revenue or any items which represent the reversal of any
accrual of, or cash reserve for, anticipated cash charges in any prior period
and any items for which cash was received in a prior period).

     

    “Equity
Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock (but excluding any debt security that is convertible into,
or exchangeable for, Capital Stock).

     

    “Equity
Offering” means any public or private sale after the Issue Date of common stock
or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer,
as applicable (other than Disqualified Stock), other than:

     

    (1)           public
offerings with respect to the Issuer’s or such direct or indirect parent’s
common stock registered on Form S-8; and

     

    (2)           any
such public or private sale that constitutes an Excluded
Contribution.

     

    “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder.

     

    “Exchange
Offer Registration Statement” means the registration statement filed with the
SEC in connection with the Registered Exchange Offer.

     

    “Excluded
Contributions” means the Cash Equivalents or other assets (valued at their Fair
Market Value as determined in good faith by senior management or the Board of
Directors of the Issuer) received by the Issuer after the Issue Date
from:

     

    (1)           contributions
to its common equity capital, and

     

    (2)           the
sale (other than to a Subsidiary of the Issuer or to any Subsidiary management
equity plan or stock option plan or any other management or employee benefit
plan or agreement) of Capital Stock (other than Disqualified Stock and
Designated Preferred Stock) of the Issuer,

     

    in each
case designated as Excluded Contributions pursuant to an Officers’ Certificate
on or promptly after the date such capital contributions are made or the date
such Capital Stock is sold, as the case may be.

     

    
      
        
          

          
            	
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    “Fair
Market Value” means, with respect to any asset or property, the price which
could be negotiated in an arm’s-length, free market transaction, for cash,
between a willing seller and a willing and able buyer, neither of whom is under
undue pressure or compulsion to complete the transaction.

     

    “First
Priority Lien Obligations” means (i) all Secured Bank Indebtedness, (ii) all
other Obligations (not constituting Indebtedness) of the Issuer and its
Restricted Subsidiaries under the agreements governing Secured Bank
Indebtedness, (iii) Note Obligations and (iv) all other Obligations of the
Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations
or Obligations in respect of cash management services, in each case owing to a
Person that is a holder of Indebtedness described in clause (i) or Obligations
described in clause (ii) or an Affiliate of such holder at the time of entry
into such Hedging Obligations or Obligations in respect of cash management
services.

     

    “Fixed
Charge Coverage Ratio” means, with respect to any Person for any period, the
ratio of EBITDA of such Person for such period to the Fixed Charges of such
Person for such period.  In the event that the Issuer or any of its
Restricted Subsidiaries Incurs, repays, repurchases or redeems any Indebtedness
(other than in the case of revolving credit borrowings or revolving advances
under any Qualified Receivables Financing, in which case interest expense shall
be computed based upon the average daily balance of such Indebtedness during the
applicable period) or issues, repurchases or redeems Disqualified Stock or
Preferred Stock subsequent to the commencement of the period for which the Fixed
Charge Coverage Ratio is being calculated but prior to the event for which the
calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”),
then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect
to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such
issuance, repurchase or redemption of Disqualified Stock or Preferred Stock, as
if the same had occurred at the beginning of the applicable four-quarter
period.

     

    For
purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, consolidations and discontinued operations (as determined
in accordance with GAAP), in each case with respect to an operating unit of a
business, and any operational changes that the Issuer or any of its Restricted
Subsidiaries has determined to make and/or made after the Issue Date and during
the four-quarter reference period or subsequent to such reference period and on
or prior to or simultaneously with the Calculation Date (each, for purposes of
this definition, a “pro forma event”) shall be calculated on a pro forma basis
assuming that all such Investments, acquisitions, dispositions, mergers,
consolidations (including the Transactions) discontinued operations and
operational changes (and the change of any associated fixed charge obligations
and the change in EBITDA resulting therefrom) had occurred on the first day of
the four-quarter reference period.  If since the beginning of such
period any Person that subsequently became a Restricted Subsidiary or was merged
with or into the Issuer or any Restricted Subsidiary since the beginning of such
period shall have made any Investment, acquisition, disposition, merger,
consolidation, discontinued operation or operational change, in each case with
respect to an operating unit of a business, that would have required adjustment
pursuant to this definition, then the Fixed Charge Coverage Ratio shall be
calculated giving pro forma effect thereto for such period as if such
Investment, acquisition, disposition, discontinued operation, merger,
consolidation or operational change had occurred at the beginning of the
applicable four-quarter period.

     

    For purposes of this definition,
whenever pro forma effect is to be given to any pro forma event, the pro forma
calculations shall be made in good faith by a responsible financial or
accounting officer of the Issuer.  Any such pro forma calculation may
include adjustments appropriate, in the reasonable good faith determination of
the Issuer as set forth in an Officers’ Certificate, to reflect (1) operating
expense reductions and other operating improvements or synergies reasonably
expected to result from the applicable pro forma event (including, to the extent
applicable, from the Transactions), and (2) all pro forma adjustments of the
nature used in similar calculations in the Second Priority Notes Indenture (as
in effect on the Issue Date), including without limitation, as applied to the
Transactions.

    

     

    If any
Indebtedness bears a floating rate of interest and is being given pro forma
effect, the interest on such Indebtedness shall be calculated as if the rate in
effect on the Calculation Date had been the applicable rate for the entire
period (taking into account any Hedging Obligations applicable to such
Indebtedness if such Hedging Obligation has a remaining term in excess of 12
months).  Interest on a Capitalized Lease Obligation shall
be

     

    
      
        
          

          
            	
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    deemed to
accrue at an interest rate reasonably determined by a responsible financial or
accounting officer of the Issuer to be the rate of interest implicit in such
Capitalized Lease Obligation in accordance with GAAP.  For purposes of
making the computation referred to above, interest on any Indebtedness under a
revolving credit facility computed on a pro forma basis shall be computed based
upon the average daily balance of such Indebtedness during the applicable
period.  Interest on Indebtedness that may optionally be determined at
an interest rate based upon a factor of a prime or similar rate, a eurocurrency
interbank offered rate, or other rate, shall be deemed to have been based upon
the rate actually chosen, or, if none, then based upon such optional rate chosen
as the Issuer may designate.

     

    “Fixed
Charges” means, with respect to any Person for any period, the sum, without
duplication, of:

     

    (1)           Consolidated
Interest Expense of such Person for such period, and

     

    (2)           all
cash dividend payments (excluding items eliminated in consolidation) on any
series of Preferred Stock or Disqualified Stock of such Person and its
Restricted Subsidiaries.

     

    “Foreign
Subsidiary” means a Restricted Subsidiary not organized or existing under the
laws of the United States of America or any state or territory thereof or the
District of Columbia and any direct or indirect subsidiary of such Restricted
Subsidiary.

     

    “GAAP”
means generally accepted accounting principles in the United States set forth in
the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment
of the accounting profession, which are in effect on the Issue
Date.

     

    “Guarantee”
means any guarantee of the obligations of the Issuer under this Indenture and
the Securities by any Person in accordance with the provisions of this
Indenture.

     

    “guarantee”
means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any
manner (including, without limitation, letters of credit and reimbursement
agreements in respect thereof), of all or any part of any Indebtedness or other
obligations.

     

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

     

    (1)           currency
exchange, interest rate or commodity swap agreements, currency exchange,
interest rate or commodity cap agreements and currency exchange, interest rate
or commodity collar agreements; and

     

    (2)           other
agreements or arrangements designed to protect such Person against fluctuations
in currency exchange, interest rates or commodity prices.

     

    “Holder”
means the Person in whose name a Security is registered on the Registrar’s
books.

     

    “Incur”
means issue, assume, guarantee, incur or otherwise become liable for; provided, however, that any
Indebtedness or Capital Stock of a Person existing at the time such Person
becomes a Subsidiary (whether by merger, amalgamation, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Person at the
time it becomes a Subsidiary. The term “Incurrence” shall have a corresponding
meaning.

     

    “Indebtedness”
means, with respect to any Person:

     

    (1)           the
principal and premium (if any) of any indebtedness of such Person, whether or
not contingent, (a) in respect of borrowed money, (b) evidenced by bonds, notes,
debentures or similar instruments or letters of credit or bankers’ acceptances
(or, without duplication, reimbursement agreements in r

     

    
      
        
          

          
            	
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    spect
thereof), (c) representing the deferred and unpaid purchase price of any
property, except any such balance that constitutes a trade payable or similar
obligation to a trade creditor due within six months from the date on which it
is Incurred, in each case Incurred in the ordinary course of business, which
purchase price is due more than six months after the date of placing the
property in service or taking delivery and title thereto, (d) in respect of
Capitalized Lease Obligations, or (e) representing any Hedging Obligations, if
and to the extent that any of the foregoing indebtedness (other than letters of
credit and Hedging Obligations) would appear as a liability on a balance sheet
(excluding the footnotes thereto) of such Person prepared in accordance with
GAAP;

     

    (2)           to
the extent not otherwise included, any obligation of such Person to be liable
for, or to pay, as obligor, guarantor or otherwise, on the Indebtedness of
another Person (other than by endorsement of negotiable instruments for
collection in the ordinary course of business);

     

    (3)           to
the extent not otherwise included, Indebtedness of another Person secured by a
Lien on any asset owned by such Person (whether or not such Indebtedness is
assumed by such Person); provided, however, that the amount of
such Indebtedness will be the lesser of: (a) the Fair Market Value of such asset
at such date of determination, and (b) the amount of such Indebtedness of such
other Person; and

     

    (4)           to
the extent not otherwise included, with respect to the Issuer and its Restricted
Subsidiaries, the amount then outstanding (i.e., advanced, and received
by, and available for use by, the Issuer or any of its Restricted Subsidiaries)
under any Receivables Financing (as set forth in the books and records of the
Issuer or any Restricted Subsidiary and confirmed by the agent, trustee or other
representative of the institution or group providing such Receivables
Financing);

     

    provided, however, that notwithstanding
the foregoing, Indebtedness shall be deemed not to include (1) Contingent
Obligations incurred in the ordinary course of business and not in respect of
borrowed money; (2) deferred or prepaid revenues; (3) purchase price holdbacks
in respect of a portion of the purchase price of an asset to satisfy warranty or
other unperformed obligations of the respective seller; (4) Obligations under or
in respect of Qualified Receivables Financing or (5) obligations under the
Acquisition Documents.

     

    Notwithstanding
anything in this Indenture to the contrary, Indebtedness shall not include, and
shall be calculated without giving effect to, the effects of Statement of
Financial Accounting Standards No. 133 and related interpretations to the extent
such effects would otherwise increase or decrease an amount of Indebtedness for
any purpose under this Indenture as a result of accounting for any embedded
derivatives created by the terms of such Indebtedness; and any such amounts that
would have constituted Indebtedness under this Indenture but for the application
of this sentence shall not be deemed an Incurrence of Indebtedness under this
Indenture.

     

    “Indenture”
means this Indenture as amended or supplemented from time to time.

     

    “Independent
Financial Advisor” means an accounting, appraisal or investment banking firm or
consultant, in each case of nationally recognized standing, that is, in the good
faith determination of the Issuer, qualified to perform the task for which it
has been engaged.

     

    “Intercreditor
Agreements” means the Senior Lender Intercreditor Agreement, the Second Priority
Intercreditor Agreement and, with respect to any Senior Fixed Obligations, the
Senior Fixed Collateral Intercreditor Agreement.

     

    “Interest
Period” means the period commencing on and including an interest payment date
and ending on and including the day immediately preceding the next succeeding
interest payment date, with the exception that the first Interest Period shall
commence on and include the Issue Date and end on and include July 14,
2008.

     

    “Investment
Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any
other Rating Agency.

     

    
      
        
          

          
            	
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    “Investment
Grade Securities” means:

     

    (1)           securities
issued or directly and fully guaranteed or insured by the U.S. government or any
agency or instrumentality thereof (other than Cash Equivalents),

     

    (2)           securities
that have a rating equal to or higher than Baa3 (or equivalent) by Moody’s or
BBB- (or equivalent) by S&P, or an equivalent rating by any other Rating
Agency, but excluding any debt securities or loans or advances between and among
the Issuer and its Subsidiaries;

     

    (3)           investments
in any fund that invests exclusively in investments of the type described in
clauses (1) and (2) which fund may also hold immaterial amounts of cash pending
investment and/or distribution, and

     

    (4)           corresponding
instruments in countries other than the United States customarily utilized for
high quality investments and in each case with maturities not exceeding two
years from the date of acquisition.

     

    “Investments”
means, with respect to any Person, all investments by such Person in other
Persons (including Affiliates) in the form of loans (including guarantees),
advances or capital contributions (excluding accounts receivable, trade credit
and advances to customers and commission, travel and similar advances to
officers, employees and consultants made in the ordinary course of business),
purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities issued by any other Person and investments that
are required by GAAP to be classified on the balance sheet of the Issuer in the
same manner as the other investments included in this definition to the extent
such transactions involve the transfer of cash or other property.  For
purposes of the definition of “Unrestricted Subsidiary” and Section
4.04:

     

    (1)           “Investments”
shall include the portion (proportionate to the Issuer’s equity interest in such
Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the
Issuer at the time that such Subsidiary is designated an Unrestricted
Subsidiary; provided,
however, that upon a
redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be
deemed to continue to have a permanent “Investment” in an Unrestricted
Subsidiary equal to an amount (if positive) equal to:

     

    (a)           the
Issuer’s “Investment” in such Subsidiary at the time of such redesignation
less

     

    (b)           the
portion (proportionate to the Issuer’s equity interest in such Subsidiary) of
the Fair Market Value of the net assets of such Subsidiary at the time of such
redesignation; and

     

    (2)           any
property transferred to or from an Unrestricted Subsidiary shall be valued at
its Fair Market Value at the time of such transfer, in each case as determined
in good faith by the Board of Directors of the Issuer.

     

    “Issue
Date” means April 21, 2008.

     

    “Issuer”
means the party named as such in the Preamble to this Indenture, until a
successor replaces it and, thereafter, means the successor, in accordance with
Section 5.01.

     

     “LIBOR”
with respect to an Interest Period, will be the rate (expressed as a percentage
per annum) for deposits in U.S. dollars for a three-month period beginning on
the second London Banking Day after the Determination Date that appears on
Bloomberg page BBAM1 as of 11:00 a.m., London time, on the Determination
Date.  If Bloomberg page BBAM1 does not include such a rate or is
unavailable on a Determination Date, the Calculation Agent will request the
principal London office of each of four major banks in the London interbank
market, as selected by the Calculation Agent, to provide such bank’s offered
quotation (expressed as a percentage per annum), as of approximately
11:00 a.m., London time, on such Determination Date, to prime banks in the
London interbank market for deposits in a Representative Amount in U.S. dollars
for a three-month period beginning on the

     

    
      
        
          

          
            	
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    second
London Banking Day after the Determination Date.  If at least two such
offered quotations are so provided, the rate for the Interest Period will be the
arithmetic mean of such quotations.  If fewer than two such quotations
are so provided, the Calculation Agent will request each of three major banks in
New York City, as selected by the Calculation Agent, to provide such bank’s rate
(expressed as a percentage per annum), as of approximately 11:00 a.m., New
York City time, on such Determination Date, for loans in a Representative Amount
in U.S. dollars to leading European banks for a three-month period beginning on
the second London Banking Day after the Determination Date.  If at
least two such rates are so provided, the rate for the Interest Period will be
the arithmetic mean of such rates.  If fewer than two such rates are
so provided, then the rate for the Interest Period will be the rate in effect
with respect to the immediately preceding Interest Period.

     

    “Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not
filed, recorded or otherwise perfected under applicable law (including any
conditional sale or other title retention agreement, any lease in the nature
thereof, any option or other agreement to sell or give a security interest in
and any filing of or agreement to give any financing statement under the New
York UCC (or equivalent statute of any jurisdiction)); provided that in no event
shall an operating lease be deemed to constitute a Lien.

     

    “London
Banking Day” is any day on which dealings in U.S. dollars are transacted or,
with respect to any future date, are expected to be transacted in the London
interbank market.

     

    “Management
Group” means the group consisting of the directors, executive officers and other
management personnel of the Issuer or any direct or indirect parent of the
Issuer, as the case may be, on the Issue Date together with (1) any new
directors whose election by such boards of directors or whose nomination for
election by the shareholders of the Issuer or any direct or indirect parent of
the Issuer, as applicable, was approved by a vote of a majority of the directors
of the Issuer or any direct or indirect parent of the Issuer, as applicable,
then still in office who were either directors on the Issue Date or whose
election or nomination was previously so approved and (2) executive officers and
other management personnel of the Issuer or any direct or indirect parent of the
Issuer, as applicable, hired at a time when the directors on the Issue Date
together with the directors so approved constituted a majority of the directors
of the Issuer or any direct or indirect parent of the Issuer, as
applicable.

     

    “Moody’s”
means Moody’s Investors Service, Inc. or any successor to the rating agency
business thereof.

     

    “Mortgages”
means the mortgages, trust deeds, deeds of trust, deeds to secure debt,
assignments of leases and rents, and other security documents delivered with
respect to Real Property subject to mortgages, as amended, supplemented or
otherwise modified from time to time.

     

    “Net
Income” means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of
Preferred Stock dividends.

     

    “Net
Insurance Proceeds” means the insurance proceeds (excluding liability insurance
proceeds payable to the Trustee for any loss, liability or expense incurred by
it and excluding the proceeds of business interruption insurance) or
condemnation awards actually received by the Issuer or any Restricted Subsidiary
as a result of the Destruction or Taking of all or any portion of the
Collateral, net of:

     

    (1)           reasonable
out-of-pocket expenses and fees relating to such Taking or Destruction
(including, without limitation, expenses of attorneys and insurance adjusters);
and

     

    (2)           repayment
of Indebtedness that is secured by the property or assets that are the subject
of such Taking or Destruction.

     

     “Net
Proceeds” means the aggregate cash proceeds received by the Issuer or any of its
Restricted Subsidiaries in respect of any Asset Sale (including, without
limitation, any cash received in respect of or upon the sale or other
disposition of any Designated Non-cash Consideration received in any Asset Sale
and any cash payments received by way of deferred payment of principal pursuant
to a note or installment receivable or otherwise,

     

    
      
        
          

          
            	
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    but only
as and when received, but excluding the assumption by the acquiring Person of
Indebtedness relating to the disposed assets or other consideration received in
any other non-cash form), net of the direct costs relating to such Asset Sale
and the sale or disposition of such Designated Non-cash Consideration
(including, without limitation, legal, accounting and investment banking fees,
and brokerage and sales commissions), and any relocation expenses Incurred as a
result thereof, taxes paid or payable as a result thereof (after taking into
account any available tax credits or deductions and any tax sharing arrangements
related thereto), amounts required to be applied to the repayment of principal,
premium (if any) and interest on Indebtedness required (other than pursuant to
Section 4.06(b)(i)) to be paid as a result of such transaction, and any
deduction of appropriate amounts to be provided by the Issuer as a reserve in
accordance with GAAP against any liabilities associated with the asset disposed
of in such transaction and retained by the Issuer after such sale or other
disposition thereof, including, without limitation, pension and other
post-employment benefit liabilities and liabilities related to environmental
matters or against any indemnification obligations associated with such
transaction.

     

    “New York
UCC ” means the Uniform Commercial Code as from time to time in effect in the
State of New York.

     

    “Note
Documents” means the Securities, this Indenture and the Security
Documents.

     

    “Note
Guarantor” means any Person that Incurs a Guarantee; provided that upon the
release or discharge of such Person from its Guarantee in accordance with this
Indenture, such Person ceases to be a Note Guarantor.

     

    “Note
Obligations” means any Obligations in respect of the Securities, this Indenture
or the Security Documents, including, for the avoidance of doubt, obligations in
respect of Exchange Securities and guarantees thereof.

     

    “Notes
Collateral Agent” means the Trustee in its capacity as “Collateral Agent” under
this Indenture and under the Security Documents and any successor thereto in
such capacity.

     

    “Obligations”
means any principal, interest, penalties, fees, indemnifications, reimbursements
(including, without limitation, reimbursement obligations with respect to
letters of credit and bankers’ acceptances), damages and other liabilities
payable under the documentation governing any Indebtedness; provided that Obligations
with respect to the Securities shall not include fees or indemnifications in
favor of the Trustee, the Notes Collateral Agent and other third parties other
than the Holders.

     

    “Offering
Memorandum” means the offering memorandum relating to the offering of Original
Securities, dated April 16, 2008.

     

    “Officer”
means the Chairman of the Board, Chief Executive Officer, Chief Financial
Officer, President, any Executive Vice President, Senior Vice President or Vice
President, the Treasurer or the Secretary of the Issuer.

     

    “Officers’
Certificate” means a certificate signed on behalf of the Issuer by two Officers
of the Issuer, one of whom must be the principal executive officer, the
principal financial officer, the treasurer or the principal accounting officer
of the Issuer that meets the requirements set forth in this
Indenture.

     

    “Opinion
of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee.  The counsel may be an employee of or counsel to the Issuer
or the Trustee.

     

    “Other
First Priority Lien Obligations” has the meaning assigned to such term in the
Senior Lender Intercreditor Agreement.

     

    
      
        
          

          
            	
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    “Pari
Passu Indebtedness” means:

     

    (1)           with
respect to the Issuer, the Securities and any Indebtedness which ranks pari
passu in right of payment to the Securities; and

     

    (2)           with
respect to any Note Guarantor, its Guarantee and any Indebtedness which ranks
pari passu in right of payment to such Note Guarantor’s Guarantee.

     

     “Paying
Agent” means an office or agency maintained by the Issuer pursuant to the terms
of this Indenture, where notes may be presented for payment.

     

    “Permitted
Holders” means, at any time, each of (i) the Sponsors and (ii) the Management
Group.  Any Person or group whose acquisition of beneficial ownership
constitutes a Change of Control in respect of which a Change of Control Offer is
made in accordance with the requirements of this Indenture will thereafter,
together with its Affiliates, constitute an additional Permitted
Holder.

     

    “Permitted
Investments” means:

     

    (1)           any
Investment in the Issuer or any Restricted Subsidiary;

     

    (2)           any
Investment in Cash Equivalents or Investment Grade Securities;

     

    (3)           any
Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person
if as a result of such Investment (a) such Person becomes a Restricted
Subsidiary of the Issuer, or (b) such Person, in one transaction or a series of
related transactions, is merged, consolidated or amalgamated with or into, or
transfers or conveys all or substantially all of its assets to, or is liquidated
into, the Issuer or a Restricted Subsidiary of the Issuer;

     

    (4)           any
Investment in securities or other assets not constituting Cash Equivalents and
received in connection with an Asset Sale made pursuant to the provisions of
Section 4.06 or any other disposition of assets not constituting an Asset
Sale;

     

    (5)           any
Investment existing on, or made pursuant to binding commitments existing on, the
Issue Date;

     

    (6)           advances
to employees, taken together with all other advances made pursuant to this
clause (6), not to exceed $15.0 million at any one time
outstanding;

     

    (7)           any
Investment acquired by the Issuer or any of its Restricted Subsidiaries (a) in
exchange for any other Investment or accounts receivable held by the Issuer or
any such Restricted Subsidiary in connection with or as a result of a
bankruptcy, workout, reorganization or recapitalization of the Issuer of such
other Investment or accounts receivable, or (b) as a result of a foreclosure by
the Issuer or any of its Restricted Subsidiaries with respect to any secured
Investment or other transfer of title with respect to any secured Investment in
default;

     

    (8)           Hedging
Obligations permitted under Section 4.03(b)(x);

     

    (9)           any
Investment by the Issuer or any of its Restricted Subsidiaries in a Similar
Business having an aggregate Fair Market Value, taken together with all other
Investments made pursuant to this clause (9) that are at that time outstanding,
not to exceed the greater of (x) $100.0 million and (y) 4.5% of Total Assets at
the time of such Investment (with the Fair Market Value of each Investment being
measured at the time made and without giving effect to subsequent changes in
value); provided, however, that if any
Investment pursuant to this clause (9) is made in any Person that is not a
Restricted Subsidiary of the Issuer at the date of the making of such Investment
and such Person becomes a Restricted Subsidiary of the Issuer after such date,
such Investment shall thereafter be deemed to have been made pursuant to clause
(1) above

     

    
      
        
          

          
            	
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    and shall
cease to have been made pursuant to this clause (9) for so long as such Person
continues to be a Restricted Subsidiary;

     

    (10)           additional
Investments by the Issuer or any of its Restricted Subsidiaries having an
aggregate Fair Market Value, taken together with all other Investments made
pursuant to this clause (10) that are at that time outstanding, not to exceed
the greater of (x) $100.0 million and (y) 4.5% of Total Assets at the time of
such Investment (with the Fair Market Value of each Investment being measured at
the time made and without giving effect to subsequent changes in
value);

     

    (11)           loans
and advances to officers, directors and employees for business-related travel
expenses, moving expenses and other similar expenses, in each case Incurred in
the ordinary course of business;

     

    (12)           Investments
the payment for which consists of Equity Interests of the Issuer (other than
Disqualified Stock) or any direct or indirect parent of the Issuer, as
applicable; provided,
however, that such
Equity Interests will not increase the amount available for Restricted Payments
under clause (C) of the definition of “Cumulative Credit”;

     

    (13)           any
transaction to the extent it constitutes an Investment that is permitted by and
made in accordance with the provisions of Section 4.07(b) (except transactions
described in clauses (ii), (vi), (vii) and (xi)(B) of such
Section);

     

    (14)           Investments
consisting of the licensing or contribution of intellectual property pursuant to
joint marketing arrangements with other Persons;

     

    (15)           guarantees
issued in accordance with Sections 4.03 and 4.11;

     

    (16)           Investments
consisting of or to finance purchases and acquisitions of inventory, supplies,
materials, services or equipment or purchases of contract rights or licenses or
leases of intellectual property, in each case in the ordinary course of
business;

     

    (17)           any
Investment in a Receivables Subsidiary or any Investment by a Receivables
Subsidiary in any other Person in connection with a Qualified Receivables
Financing, including Investments of funds held in accounts permitted or required
by the arrangements governing such Qualified Receivables Financing or any
related Indebtedness; provided, however, that any Investment
in a Receivables Subsidiary is in the form of a Purchase Money Note,
contribution of additional receivables or an Equity Interest;

     

    (18)           additional
Investments in joint ventures of the Issuer or any of its Restricted
Subsidiaries existing on the Issue Date not to exceed at any one time in the
aggregate outstanding, $15.0 million; and

     

    (19)           Investments
of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an
entity merged into, amalgamated with, or consolidated with the Issuer or a
Restricted Subsidiary of the Issuer in a transaction that is not prohibited by
Section 5.01 after the Issue Date to the extent that such Investments were not
made in contemplation of such acquisition, merger, amalgamation or consolidation
and were in existence on the date of such acquisition, merger, amalgamation or
consolidation.

     

    “Permitted
Liens” means, with respect to any Person:

     

    (1)           pledges
or deposits by such Person under workmen’s compensation laws, unemployment
insurance laws or similar legislation, or good faith deposits in connection with
bids, tenders, contracts (other than for the payment of Indebtedness) or leases
to which such Person is a party, or deposits to secure public or statutory
obligations of such Person or deposits of cash or U.S. government bonds to
secure surety or appeal bonds to which such Person is a party, or deposits as
security for contested taxes or import duties or for the payment of rent, in
each case Incurred in the ordinary course of business;

     

    
      
        
          

          
            	
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    (2)           Liens
imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each
case for sums not yet due or being contested in good faith by appropriate
proceedings or other Liens arising out of judgments or awards against such
Person with respect to which such Person shall then be proceeding with an appeal
or other proceedings for review;

     

    (3)           Liens
for taxes, assessments or other governmental charges not yet due or payable or
subject to penalties for nonpayment or which are being contested in good faith
by appropriate proceedings;

     

    (4)           Liens
in favor of issuers of performance and surety bonds or bid bonds or with respect
to other regulatory requirements or letters of credit issued pursuant to the
request of and for the account of such Person in the ordinary course of its
business;

     

    (5)           minor
survey exceptions, minor encumbrances, easements or reservations of, or rights
of others for, licenses, rights-of-way, sewers, electric lines, telegraph and
telephone lines and other similar purposes, or zoning or other restrictions as
to the use of real properties or Liens incidental to the conduct of the business
of such Person or to the ownership of its properties which were not Incurred in
connection with Indebtedness and which do not in the aggregate materially
adversely affect the value of said properties or materially impair their use in
the operation of the business of such Person;

     

    (6)           (A)
Liens on assets of a Restricted Subsidiary that is not a Note Guarantor securing
Indebtedness of such Restricted Subsidiary, permitted to be Incurred pursuant to
Section 4.03, (B) Liens securing an aggregate principal amount of First Priority
Lien Obligations not to exceed the greater of (x) the aggregate amount of
Indebtedness permitted to be incurred pursuant to clause (i) of Section 4.03(b)
and (y) the maximum principal amount of Indebtedness that, as of the date such
Indebtedness was Incurred, and after giving effect to the Incurrence of such
Indebtedness and the application of proceeds therefrom on such date, would not
cause the Secured Indebtedness Leverage Ratio of the Issuer to exceed 4.00 to
1.00, and (C) Liens securing Indebtedness permitted to be Incurred pursuant to
clause (iv), (xii) or (xx) of Section 4.03(b) (provided that in the case of
clause (xx), such Lien does not extend to the property or assets of any
Subsidiary of the Issuer other than a Foreign Subsidiary);

     

    (7)           Liens
existing on the Issue Date (including after giving effect to the
Transactions);

     

    (8)           Liens
on assets, property or shares of stock of a Person at the time such Person
becomes a Subsidiary; provided, however, that such Liens are
not created or Incurred in connection with, or in contemplation of, such other
Person becoming such a Subsidiary; provided, further, however, that such
Liens may not extend to any other property owned by the Issuer or any Restricted
Subsidiary of the Issuer);

     

    (9)           Liens
on assets or property at the time the Issuer or a Restricted Subsidiary of the
Issuer acquired the assets or property, including any acquisition by means of a
merger, amalgamation or consolidation with or into the Issuer or any Restricted
Subsidiary of the Issuer; provided, however, that such Liens are
not created or Incurred in connection with, or in contemplation of, such
acquisition; provided,
further, however, that the Liens may
not extend to any other property owned by the Issuer or any Restricted
Subsidiary of the Issuer;

     

    (10)           Liens
securing Indebtedness or other obligations of a Restricted Subsidiary owing to
the Issuer or another Restricted Subsidiary of the Issuer permitted to be
Incurred in accordance with Section 4.03;

     

    (11)           Liens
securing Hedging Obligations not incurred in violation of this Indenture; provided that with respect to
Hedging Obligations relating to Indebtedness, such Lien extends only to the
property securing such Indebtedness;

     

    (12)           Liens
on specific items of inventory or other goods and proceeds of any Person
securing such Person’s obligations in respect of bankers’ acceptances issued or
created for the account of such Person to facilitate the purchase, shipment or
storage of such inventory or other goods;

     

    
      
        
          

          
            	
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    (13)           leases
and subleases of real property which do not materially interfere with the
ordinary conduct of the business of the Issuer or any of its Restricted
Subsidiaries;

     

    (14)           Liens
arising from financing statement filings under the New York UCC or equivalent
statute of another jurisdiction regarding operating leases entered into by the
Issuer and its Restricted Subsidiaries in the ordinary course of
business;

     

    (15)           Liens
in favor of the Issuer or any Note Guarantor;

     

    (16)           Liens
on accounts receivable and related assets of the type specified in the
definition of “Receivables Financing” Incurred in connection with a Qualified
Receivables Financing;

     

    (17)           deposits
made in the ordinary course of business to secure liability to insurance
carriers;

     

    (18)           Liens
on the Equity Interests of Unrestricted Subsidiaries;

     

    (19)           grants
of software and other technology licenses in the ordinary course of
business;

     

    (20)           Liens
to secure any refinancing, refunding, extension, renewal or replacement (or
successive refinancings, refundings, extensions, renewals or replacements) as a
whole, or in part, of any Indebtedness secured by any Lien referred to in the
foregoing clauses (6)(B), (7), (8), (9), (10), (11) and (15); provided, however, that (x) such new
Lien shall be limited to all or part of the same property that secured the
original Lien (plus improvements on such property), and (y) the Indebtedness
secured by such Lien at such time is not increased to any amount greater than
the sum of (A) the outstanding principal amount or, if greater, committed amount
of the Indebtedness described under clauses (6)(B), (7), (8), (9), (10), (11)
and (15) at the time the original Lien became a Permitted Lien under this
Indenture, and (B) an amount necessary to pay any fees and expenses, including
premiums, related to such refinancing, refunding, extension, renewal or
replacement; provided
further, however, that in the case of
any Liens to secure any refinancing, refunding, extension or renewal of
Indebtedness secured by a Lien referred to in clause (6)(B), the principal
amount of any Indebtedness Incurred for such refinancing, refunding, extension
or renewal shall be deemed secured by a Lien under clause (6)(B) and not this
clause (20) for purposes of determining the principal amount of Indebtedness
outstanding under clause (6)(B), for purposes of clause (1) under Section
11.04(a) and for purposes of the definition of Secured Bank
Indebtedness;

     

    (21)           Liens
on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary
course of business to the Issuer’s or such Restricted Subsidiary’s client at
which such equipment is located;

     

    (22)           judgment
and attachment Liens not giving rise to an Event of Default and notices of lis
pendens and associated rights related to litigation being contested in good
faith by appropriate proceedings and for which adequate reserves have been
made;

     

    (23)           Liens
arising out of conditional sale, title retention, consignment or similar
arrangements for the sale of goods entered into in the ordinary course of
business;

     

    (24)           Liens
incurred to secure cash management services in the ordinary course of
business;

     

    (25)           other
Liens securing obligations incurred in the ordinary course of business which
obligations do not exceed $20.0 million at any one time
outstanding;

     

    (26)           Liens
securing Indebtedness or other obligations permitted to be Incurred in
accordance with Section 4.03(b)(ii); and

     

    (27)           Liens
on the Collateral in favor of any collateral agent relating to such collateral
agent’s administrative expenses with respect to the Collateral.

     

    
      
        
          

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

     

    “Preferred
Stock” means any Equity Interest with preferential right of payment of dividends
or upon liquidation, dissolution, or winding up.

     

    “Purchase
Money Note” means a promissory note of a Receivables Subsidiary evidencing a
line of credit, which may be irrevocable, from the Issuer or any Subsidiary of
the Issuer to a Receivables Subsidiary in connection with a Qualified
Receivables Financing, which note is intended to finance that portion of the
purchase price that is not paid by cash or a contribution of
equity.

     

    “Qualified
CFC Holding Company” shall mean a Wholly Owned Subsidiary of the Issuer or a
Note Guarantor that is a limited liability company, the primary asset of which
consists of Equity Interests in either (i) a Foreign Subsidiary or
(ii) a limited liability company the primary asset of which consists of
Equity Interests in a Foreign Subsidiary.

     

    “Qualified
Receivables Financing” means any Receivables Financing of a Receivables
Subsidiary that meets the following conditions:

     

    (1)           the
Board of Directors of the Issuer shall have determined in good faith that such
Qualified Receivables Financing (including financing terms, covenants,
termination events and other provisions) is in the aggregate economically fair
and reasonable to the Issuer and the Receivables Subsidiary;

     

    (2)           all
sales of accounts receivable and related assets to the Receivables Subsidiary
are made at Fair Market Value (as determined in good faith by the Issuer);
and

     

    (3)           the
financing terms, covenants, termination events and other provisions thereof
shall be market terms (as determined in good faith by the Issuer) and may
include Standard Securitization Undertakings.

     

    The grant
of a security interest in any accounts receivable of the Issuer or any of its
Restricted Subsidiaries (other than a Receivables Subsidiary) to secure Bank
Indebtedness, Indebtedness in respect of the Securities or any Refinancing
Indebtedness with respect to the Securities shall not be deemed a Qualified
Receivables Financing.

     

    “Rating
Agency” means (1) each of Moody’s and S&P and (2) if Moody’s or S&P
ceases to rate the Securities for reasons outside of the Issuer’s control, a
“nationally recognized statistical rating organization” within the meaning of
Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Issuer or any
direct or indirect parent of the Issuer as a replacement agency for Moody’s or
S&P, as the case may be.

     

    “Real
Property” means, collectively, all right, title and interest (including any
leasehold estate) in and to any and all parcels of or interests in real property
owned in fee or leased by the Issuer or any Note Guarantor, together with, in
each case, all easements, hereditaments and appurtenances relating thereto, all
improvements and appurtenant fixtures incidental to the ownership or lease
thereof.

     

    “Receivables
Fees” means distributions or payments made directly or by means of discounts
with respect to any participation interests issued or sold in connection with,
and all other fees paid to a Person that is not a Restricted Subsidiary in
connection with, any Receivables Financing.

     

    “Receivables
Financing” means any transaction or series of transactions that may be entered
into by the Issuer or any of its Subsidiaries pursuant to which the Issuer or
any of its Subsidiaries may sell, convey or otherwise transfer to (a) a
Receivables Subsidiary (in the case of a transfer by the Issuer or any of its
Subsidiaries); and (b) any other Person (in the case of a transfer by a
Receivables Subsidiary), or may grant a security interest in, any accounts
receivable (whether now existing or arising in the future) of the Issuer or any
of its Subsidiaries, and

     

    
      
        
          

          
            	
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    any
assets related thereto including, without limitation, all collateral securing
such accounts receivable, all contracts and all guarantees or other obligations
in respect of such accounts receivable, proceeds of such accounts receivable and
other assets which are customarily transferred or in respect of which security
interests are customarily granted in connection with asset securitization
transactions involving accounts receivable and any Hedging Obligations entered
into by the Issuer or any such Subsidiary in connection with such accounts
receivable.

     

    “Receivables
Repurchase Obligation” means any obligation of a seller of receivables in a
Qualified Receivables Financing to repurchase receivables arising as a result of
a breach of a representation, warranty or covenant or otherwise, including as a
result of a receivable or portion thereof becoming subject to any asserted
defense, dispute, off-set or counterclaim of any kind as a result of any action
taken by, any failure to take action by or any other event relating to the
seller.

     

    “Receivables
Subsidiary” means a Wholly Owned Restricted Subsidiary of the Issuer (or another
Person formed for the purposes of engaging in Qualified Receivables Financing
with the Issuer in which the Issuer or any Subsidiary of the Issuer makes an
Investment and to which the Issuer or any Subsidiary of the Issuer transfers
accounts receivable and related assets) which engages in no activities other
than in connection with the financing of accounts receivable of the Issuer and
its Subsidiaries, all proceeds thereof and all rights (contractual or other),
collateral and other assets relating thereto, and any business or activities
incidental or related to such business, and which is designated by the Board of
Directors of the Issuer (as provided below) as a Receivables Subsidiary
and:

     

    (a)           no
portion of the Indebtedness or any other obligations (contingent or otherwise)
of which (i) is guaranteed by the Issuer or any other Subsidiary of the Issuer
(excluding guarantees of obligations (other than the principal of and interest
on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is
recourse to or obligates the Issuer or any other Subsidiary of the Issuer in any
way other than pursuant to Standard Securitization Undertakings, or (iii)
subjects any property or asset of the Issuer or any other Subsidiary of the
Issuer, directly or indirectly, contingently or otherwise, to the satisfaction
thereof, other than pursuant to Standard Securitization
Undertakings;

     

    (b)           with
which neither the Issuer nor any other Subsidiary of the Issuer has any material
contract, agreement, arrangement or understanding other than on terms which the
Issuer reasonably believes to be no less favorable to the Issuer or such
Subsidiary than those that might be obtained at the time from Persons that are
not Affiliates of the Issuer; and

     

    (c)           to
which neither the Issuer nor any other Subsidiary of the Issuer has any
obligation to maintain or preserve such entity’s financial condition or cause
such entity to achieve certain levels of operating results.

     

    Any such
designation by the Board of Directors of the Issuer shall be evidenced to the
Trustee by filing with the Trustee a certified copy of the resolution of the
Board of Directors of the Issuer giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the
foregoing conditions.

     

    “Reference
Period” has the meaning given to such term in the definition of “Cumulative
Credit” in Section 1.01 of this Indenture.

     

     “Representative
Amount” means a principal amount of not less than $1,000,000 for a single
transaction in the relevant market at the relevant time.

     

    “Restricted
Investment” means an Investment other than a Permitted Investment.

     

    “Restricted
Subsidiary” means, with respect to any Person, any Subsidiary of such Person
other than an Unrestricted Subsidiary of such Person.  Unless
otherwise indicated in this Indenture, all references to Restricted Subsidiaries
shall mean Restricted Subsidiaries of the Issuer.

     

    “Revolving
Credit Agreement” means the Amended and Restated Revolving Credit Agreement,
dated April 3, 2007, by and among the Issuer, Berry Plastics Group, Inc.,
certain Subsidiaries of the Issuer, Bank of

     

    
      
        
          

          
            	
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    America,
N.A., as administrative agent, and the other lenders party thereto, as amended,
restated, supplemented, waived, replaced (whether or not upon termination, and
whether with the original lenders or otherwise), restructured, repaid, refunded,
refinanced or otherwise modified from time to time, including any agreement or
indenture extending the maturity thereof, refinancing, replacing or otherwise
restructuring all or any portion of the Indebtedness under such agreement or
agreements or indenture or indentures or any successor or replacement agreement
or agreements or indenture or indentures or increasing the amount loaned or
issued thereunder or altering the maturity thereof.

     

    “Revolving
Facility Administrative Agent” means Bank of America, N.A., as administrative
agent for the lenders under the Revolving Credit Agreement, together with its
successors and permitted assigns under the Revolving Credit Agreement exercising
substantially the same rights and powers, or such other agent as may from time
to time be appointed thereunder.

     

    “Revolving
Facility Collateral Agent” means Bank of America, N.A., as collateral agent for
the lenders under the Revolving Credit Agreement, together with its successors
and permitted assigns under the Revolving Credit Agreement exercising
substantially the same rights and powers, or such other agent as may from time
to time be appointed thereunder.

     

     “Revolving
Facility Obligations” has the meaning assigned to such term in the Senior Lender
Intercreditor Agreement.

     

     “Revolving
Facility Senior Collateral” has the meaning assigned to such term in the Senior
Lender Intercreditor Agreement.

     

    “Sale/Leaseback
Transaction” means an arrangement relating to property now owned or hereafter
acquired by the Issuer or a Restricted Subsidiary whereby the Issuer or a
Restricted Subsidiary transfers such property to a Person and the Issuer or such
Restricted Subsidiary leases it from such Person, other than leases between the
Issuer and a Restricted Subsidiary of the Issuer or between Restricted
Subsidiaries of the Issuer.

     

    “S&P”
means Standard & Poor’s Ratings Group or any successor to the rating agency
business thereof.

     

    “SEC”
means the Securities and Exchange Commission.

     

    “Second
Priority Intercreditor Agreement” means the Second Amended and Restated
Intercreditor Agreement, dated as of February 5, 2008, by and among the Second
Priority Notes Trustee, the Term Facility Administrative Agent, the Term Loan
Collateral Agent, the Revolving Facility Administrative Agent, the Revolving
Facility Collateral Agent, the Bridge Loan Administrative Agent, the Bridge Loan
Collateral Agent, each other collateral agent representing holders of any Other
First Priority Lien Obligations of the Issuer, the subsidiaries of the Issuer
party thereto and Berry Plastics Group, Inc., as will be supplemented as of the
Issue Date by the execution and delivery of a joinder agreement by the Notes
Collateral Agent, the Trustee, the Term Facility Administrative Agent, the Term
Loan Collateral Agent, the Revolving Facility Administrative Agent, the
Revolving Facility Collateral Agent, the Second Priority Notes Trustee, Berry
Plastics Group, Inc., the Issuer and the Note Guarantors, as may be amended,
restated or otherwise supplemented.

     

    “Second
Priority Notes” means the 87⁄8% Second Priority Fixed Rate Senior Secured Notes
due 2014 and the Second Priority Senior Secured Floating Rate Notes due 2014
issued by the Issuer on September 20, 2006.

     

    “Second
Priority Notes Indenture” means the indenture dated as of September 20,
2006 among the Issuer and certain of its subsidiaries party thereto and the
trustee named therein from time to time, as amended, restated, supplemented or
otherwise modified from time to time in accordance with the requirements thereof
and of this Indenture.

     

    
      
        
          

          
            	
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    “Second
Priority Notes Trustee” means Wells Fargo Bank, National Association, as
collateral trustee for the holders of the Second Priority Notes.

     

    “Secured
Bank Indebtedness” means the Revolving Facility Obligations, the Term Loan
Obligations and any Bank Indebtedness that is secured by a Permitted Lien
incurred or deemed incurred pursuant to clause (6)(B) of the definition of
Permitted Lien.

     

    “Secured
Indebtedness” means any Indebtedness secured by a Lien.

     

    “Secured
Indebtedness Leverage Ratio” means, with respect to any Person at any date, the
ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries
as of such date of calculation (determined on a consolidated basis in accordance
with GAAP) that constitutes First Priority Lien Obligations to (ii) EBITDA of
such Person for the four full fiscal quarters for which internal financial
statements are available immediately preceding such date on which such
additional Indebtedness is Incurred. In the event that the Issuer or any of its
Restricted Subsidiaries Incurs, repays, repurchases or redeems any Indebtedness
subsequent to the commencement of the period for which the Secured Indebtedness
Leverage Ratio is being calculated but prior to the event for which the
calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured
Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall
be calculated giving pro forma effect to such Incurrence, repayment, repurchase
or redemption of Indebtedness as if the same had occurred at the beginning of
the applicable four-quarter period; provided that the Issuer may
elect, pursuant to an Officers’ Certificate delivered to the Trustee to treat
all or any portion of the commitment under any Indebtedness as being Incurred at
such time, in which case any subsequent Incurrence of Indebtedness under such
commitment shall not be deemed, for purposes of this calculation, to be an
Incurrence at such subsequent time.

     

    For
purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, consolidations and discontinued operations (as determined
in accordance with GAAP), in each case with respect to an operating unit of a
business, and any operational changes that the Issuer or any of its Restricted
Subsidiaries has determined to make and/or made after the Issue Date and during
the four-quarter reference period or subsequent to such reference period and on
or prior to or simultaneously with the Secured Leverage Calculation Date (each,
for purposes of this definition, a “pro forma event”) shall be calculated on a
pro forma basis assuming that all such Investments, acquisitions, dispositions,
mergers, consolidations (including the Transactions), discontinued operations
and other operational changes (and the change of any associated Indebtedness and
the change in EBITDA resulting therefrom) had occurred on the first day of the
four-quarter reference period. If since the beginning of such period any Person
that subsequently became a Restricted Subsidiary or was merged with or into the
Issuer or any Restricted Subsidiary since the beginning of such period shall
have made any Investment, acquisition, disposition, merger, consolidation,
discontinued operation or operational change, in each case with respect to an
operating unit of a business, that would have required adjustment pursuant to
this definition, then the Secured Indebtedness Leverage Ratio shall be
calculated giving pro forma effect thereto for such period as if such
Investment, acquisition, disposition, discontinued operation, merger,
consolidation or operational change had occurred at the beginning of the
applicable four-quarter period.

     

    For
purposes of this definition, whenever pro forma effect is to be given to any pro
forma event, the pro forma calculations shall be made in good faith by a
responsible financial or accounting officer of the Issuer. Any such pro forma
calculation may include adjustments appropriate, in the reasonable good faith
determination of the Issuer as set forth in an Officers’ Certificate, to reflect
(1) operating expense reductions and other operating improvements or synergies
reasonably expected to result from the applicable pro forma event (including, to
the extent applicable, from the Transactions), and (2) all pro forma adjustments
of the nature used in similar calculations in the Second Priority Notes
Indenture (as in effect on the Issue Date), including, without limitation, as
applied to the Transactions.

     

    “Securities”
has the meaning given such term in the Preamble to this Indenture. “Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder.

     

     “Security
Agreement” means the Second Amended and Restated First Lien Guarantee and
Collateral Agreement dated as of April 3, 2007, among Berry Plastics Group,
Inc., the Issuer, the subsidiaries of the Issuer

     

    
      
        
          

          
            	
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    party
thereto, the Term Loan Collateral Agent and the Revolving Facility Collateral
Agent, as amended, supplemented, restated, renewed, refunded, replaced,
restructured, repaid, refinanced or otherwise modified from time to
time.

     

     “Security
Documents” means the security agreements, pledge agreements, collateral
assignments, Mortgages and related agreements, as amended, supplemented,
restated, renewed, refunded, replaced, restructured, repaid, refinanced or
otherwise modified from time to time, creating the security interests in favor
of the Notes Collateral Agent in the Collateral as contemplated by this
Indenture.

     

    “Senior
Fixed Collateral Intercreditor Agreement” means the Senior Fixed Collateral
Priority and Intercreditor Agreement, dated as of February 5, 2008, by and among
the Bridge Loan Administrative Agent, Bridge Loan Collateral Agent, each other
collateral agent representing holders of Other First Priority Lien Obligations,
the Term Facility Administrative Agent, the Term Loan Collateral Agent, the
Issuer, the Note Guarantors and Berry Plastics Group, Inc., as will be
supplemented as of the Issue Date by the execution and delivery of a joinder
agreement by the Notes Collateral Agent, the Trustee, the Term Facility
Administrative Agent, the Term Loan Collateral Agent, Berry Plastics Group,
Inc., the Issuer and the Note Guarantors, as amended, supplemented or otherwise
modified from time to time.

     

    “Senior
Fixed Obligations” has the meaning assigned to such term in the Senior Lender
Intercreditor Agreement.

     

     “Senior
Lender Intercreditor Agreement” means the Second Amended and Restated Senior
Lender Priority and Intercreditor Agreement, dated as of February 5, 2008, by
and among the Term Facility Administrative Agent, the Term Loan Collateral
Agent, the Revolving Facility Administrative Agent, the Revolving Facility
Collateral Agent, the Bridge Loan Administrative Agent, the Bridge Loan
Collateral Agent, each other collateral agent representing holders of any Other
First Priority Lien Obligations, the Issuer, the Note Guarantors and Berry
Plastics Group, Inc., as will be supplemented as of the Issue Date by the
execution and delivery of a joinder agreement by the Notes Collateral Agent, the
Trustee, the Term Facility Administrative Agent, the Term Loan Collateral Agent,
the Revolving Facility Administrative Agent, the Revolving Facility Collateral
Agent, Berry Plastics Group, Inc., the Issuer and the Note Guarantors, as
amended, supplemented or otherwise modified from time to time.

     

     “Senior
Subordinated Notes” means the 11% Senior Subordinated Notes due 2016 of the
Issuer issued on September 20, 2006 and the 10 1/4% Senior Subordinated Notes
due 2016 of the Issuer issued on February 16, 2006.

     

     “Shared
Collateral” has the meaning assigned to such term in the Senior Fixed Collateral
Intercreditor Agreement.

     

    “Significant
Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Issuer within the meaning of Rule 1-02 under Regulation S-X
promulgated by the SEC.

     

    “Similar
Business” means a business, the majority of whose revenues are derived from the
activities of the Issuer and its Subsidiaries as of the Issue Date or any
business or activity that is reasonably similar or complementary thereto or a
reasonable extension, development or expansion thereof or ancillary
thereto.

     

    “Sponsors”
means (1) Apollo Management, L.P., Graham Partners, Inc. and any of their
respective Affiliates (collectively, the “Apollo Sponsors”) and (2) any Person
that forms a group (within the meaning of Section 13(d)(3) or Section 14(d)(2)
of the Exchange Act, or any successor provision) with any Apollo Sponsors; provided that any Apollo
Sponsor (x) owns a majority of the voting power and (y) controls a majority of
the Board of Directors of the Issuer.

     

    “Standard
Securitization Undertakings” means representations, warranties, covenants,
indemnities and guarantees of performance entered into by the Issuer or any
Subsidiary of the Issuer which the Issuer has determined in good faith to be
customary in a Receivables Financing including, without limitation, those
relating to the

     

    
      
        
          

          
            	
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    servicing
of the assets of a Receivables Subsidiary, it being understood that any
Receivables Repurchase Obligation shall be deemed to be a Standard
Securitization Undertaking.

     

    “Stated
Maturity” means, with respect to any security, the date specified in such
security as the fixed date on which the final payment of principal of such
security is due and payable, including pursuant to any mandatory redemption
provision (but excluding any provision providing for the repurchase of such
security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has
occurred).

     

    “Subordinated
Indebtedness” means (a) with respect to the Issuer, any Indebtedness of the
Issuer which is by its terms subordinated in right of payment to the Securities,
and (b) with respect to any Note Guarantor, any Indebtedness of such Note
Guarantor which is by its terms subordinated in right of payment to its
Guarantee.

     

    “Subsidiary”
means, with respect to any Person, (1) any corporation, association or other
business entity (other than a partnership, joint venture or limited liability
company) of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency) to vote in
the election of directors, managers or trustees thereof is at the time of
determination owned or controlled, directly or indirectly, by such Person or one
or more of the other Subsidiaries of that Person or a combination thereof, and
(2) any partnership, joint venture or limited liability company of which (x)
more than 50% of the capital accounts, distribution rights, total equity and
voting interests or general and limited partnership interests, as applicable,
are owned or controlled, directly or indirectly, by such Person or one or more
of the other Subsidiaries of that Person or a combination thereof, whether in
the form of membership, general, special or limited partnership interests or
otherwise, and (y) such Person or any Subsidiary of such Person is a controlling
general partner or otherwise controls such entity.

     

    “Taking”
means any taking of all or any portion of the Collateral by condemnation or
other eminent domain proceedings, pursuant to any law, general or special, or by
reason of the temporary requisition of the use or occupancy of all or any
portion of the Collateral by any governmental authority, civil or military, or
any sale pursuant to the exercise by any such governmental authority of any
right which it may then have to purchase or designate a purchaser or to order a
sale of all or any portion of the Collateral.

     

     “Tax
Distributions” means any distributions described in Section
4.04(b)(xii).

     

    “Term
Facility Administrative Agent” means Credit Suisse, Cayman Islands Branch, as
administrative agent for the lenders under the Term Loan Credit Agreement,
together with its successors and permitted assigns under the Term Loan Credit
Agreement exercising substantially the same rights and powers, or such other
agent as may from time to time be appointed thereunder.

     

    “Term
Loan Collateral Agent” means Credit Suisse, Cayman Islands Branch, as collateral
agent for the lenders under the Term Loan Credit Agreement, together with its
respective successors and permitted assigns under the Term Loan Credit Agreement
exercising substantially the same rights and powers, or such other agent as may
from time to time be appointed thereunder.

     

    “Term
Loan Credit Agreement” means that certain Second Amended and Restated Term Loan
Credit Agreement, dated April 3, 2007, by and among the Issuer, Berry Plastics
Group, Inc., Credit Suisse, Cayman Islands Branch, as administrative agent, and
the other lenders party thereto, as amended, restated, supplemented, waived,
replaced (whether or not upon termination, and whether with the original lenders
or otherwise), restructured, repaid, refunded, refinanced or otherwise modified
from time to time, including any agreement or indenture extending the maturity
thereof, refinancing, replacing or otherwise restructuring all or any portion of
the Indebtedness under such agreement or agreements or indenture or indentures
or any successor or replacement agreement or agreements or indenture or
indentures or increasing the amount loaned or issued thereunder or altering the
maturity thereof.

     

     “Term
Loan Obligations” has the meaning assigned to such term in the Senior Lender
Intercreditor Agreement.

     

    
      
        
          

          
            	
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     “TIA”
means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in
effect on the date of this Indenture.

     

    “Total
Assets” means the total consolidated assets of the Issuer and its Restricted
Subsidiaries, as shown on the most recent balance sheet of the
Issuer.

     

    “Transactions”
means the Captive Acquisition, the transactions related thereto (including entry
into the Bridge Loan Credit Agreement) and the offering of the Securities on the
Issue Date.

     

    “Treasury
Rate” means as of the applicable redemption date, the yield to maturity as of
such redemption date of United States Treasury securities with a constant
maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15 (519) that has become publicly available at least two
business days prior to such redemption date (or, if such Statistical Release is
no longer published, any publicly available source of similar market data)) most
nearly equal to the period from such redemption date to April 15, 2010; provided, however, that if the period
from such redemption date to April 15, 2010 is less than one year, the weekly
average yield on actually traded United States Treasury securities adjusted to a
constant maturity of one year will be used.

     

    “Trust
Officer” means:

     

    (1)           any
officer within the corporate trust department of the Trustee, including any vice
president, assistant vice president, assistant secretary, assistant treasurer,
trust officer or any other officer of the Trustee who customarily performs
functions similar to those performed by the Persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular
subject, and

     

    (2)           who
shall have direct responsibility for the administration of this
Indenture.

     

    “Trustee”
means the party named as such in the Preamble of this Indenture until a
successor replaces it and, thereafter, means the successor.

     

     “Unrestricted
Subsidiary” means:

     

    (1)           any
Subsidiary of the Issuer that at the time of determination shall be designated
an Unrestricted Subsidiary by the Board of Directors of such Person in the
manner provided below; and

     

    (2)           any
Subsidiary of an Unrestricted Subsidiary.

     

    The Board
of Directors of the Issuer may designate any Subsidiary of the Issuer (including
any newly acquired or newly formed Subsidiary of the Issuer) to be an
Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns
any Equity Interests or Indebtedness of, or owns or holds any Lien on any
property of, the Issuer or any other Subsidiary of the Issuer that is not a
Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary
to be so designated and its Subsidiaries do not at the time of designation have
and do not thereafter Incur any Indebtedness pursuant to which the lender has
recourse to any of the assets of the Issuer or any of its Restricted
Subsidiaries; provided,
further, however, that
either:

     

    (a)           the
Subsidiary to be so designated has total consolidated assets of $1,000 or less;
or

     

    (b)           if
such Subsidiary has consolidated assets greater than $1,000, then such
designation would be permitted under Section 4.04.

     

    The Board
of Directors of the Issuer may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that immediately
after giving effect to such designation:

     

    (x)           (1)
the Issuer could Incur $1.00 of additional Indebtedness pursuant to the Fixed
Charge Coverage Ratio test set forth in Section 4.03(a) or (2) the Fixed Charge
Coverage Ratio for the Issuer and

     

    
      
        
          

          
            	
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    its
Restricted Subsidiaries would be greater than such ratio for the Issuer and its
Restricted Subsidiaries immediately prior to such designation, in each case on a
pro forma basis taking into account such designation, and

     

    (y)           no
Event of Default shall have occurred and be continuing.

     

    Any such
designation by the Board of Directors of the Issuer shall be evidenced to the
Trustee by promptly filing with the Trustee a copy of the resolution of the
Board of Directors of the Issuer giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the
foregoing provisions.

     

    “U.S.
Government Obligations” means securities that are:

     

    (1)           direct
obligations of the United States of America for the timely payment of which its
full faith and credit is pledged, or

     

    (2)           obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America, the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States of America,

     

    which, in
each case, are not callable or redeemable at the option of the issuer thereof,
and shall also include a depository receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act) as custodian with respect to any such
U.S. Government Obligations or a specific payment of principal of or interest on
any such U.S. Government Obligations held by such custodian for the account of
the holder of such depository receipt; provided that (except as
required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depository receipt from any amount received
by the custodian in respect of the U.S. Government Obligations or the specific
payment of principal of or interest on the U.S. Government Obligations evidenced
by such depository receipt.

     

    “Voting
Stock” of any Person as of any date means the Capital Stock of such Person that
is at the time entitled to vote in the election of the Board of Directors of
such Person.

     

    “Weighted
Average Life to Maturity” means, when applied to any Indebtedness or
Disqualified Stock, as the case may be, at any date, the quotient obtained by
dividing (1) the sum of the products of the number of years from the date of
determination to the date of each successive scheduled principal payment of such
Indebtedness or redemption or similar payment with respect to such Disqualified
Stock multiplied by the amount of such payment, by (2) the sum of all such
payments.

     

    “Wholly
Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a Restricted
Subsidiary.

     

    “Wholly
Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the
outstanding Capital Stock or other ownership interests of which (other than
directors’ qualifying shares or shares required to be held by Foreign
Subsidiaries) shall at the time be owned by such Person or by one or more Wholly
Owned Subsidiaries of such Person.

     

    SECTION
1.02. Other
Definitions

     

    .

     

    
      	
              Term

            	
              Defined

              in Section

            
	
              “Additional
      Interest”                                                                                                                

            	
              Appendix
      A

            
	
              “Additional
      Mortgage”                                                                                                                

            	
              4.15(b)

            
	
              “Affiliate
      Transaction”                                                                                                                

            	
              4.07

            
	
              “Agent
      Members”                                                                                                                

            	
              Appendix
      A

            
	
              “Appendix”                                                                                                                

            	
              Preamble

            

    

     

     

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    
      	
              “Asset
      Sale
      Offer”                                                                                                                

            	
              4.06(b)

            
	
              “Bankruptcy
      Law”                                                                                                                

            	
              6.01

            
	
              “Change
      of Control
      Offer”                                                                                                                

            	
              4.08(b)

            
	
              “Clearstream”                                                                                                                

            	
              Appendix
      A

            
	
              “covenant
      defeasance
      option”                                                                                                                

            	
              8.01(c)

            
	
              “Covenant
      Suspension
      Event”                                                                                                                

            	
              4.16(b)

            
	
              “Custodian”                                                                                                                

            	
              6.01

            
	
              “Definitive
      Security”                                                                                                                

            	
              Appendix
      A

            
	
              “Depository”                                                                                                                

            	
              Appendix
      A

            
	
              “Euroclear”                                                                                                                

            	
              Appendix
      A

            
	
              “Event
      of
      Default”                                                                                                                

            	
              6.01

            
	
              “Excess
      Proceeds”                                                                                                                

            	
              4.06(b)

            
	
              “Exchange
      Securities”                                                                                                                

            	
              Preamble

            
	
              “Global
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Global
      Securities
      Legend”                                                                                                                

            	
              Appendix
      A

            
	
              “Guaranteed
      Obligations”                                                                                                                

            	
              12.01(a)

            
	
              “IAI”                                                                                                                

            	
              Appendix
      A

            
	
              “incorporated
      provision”                                                                                                                

            	
              13.01

            
	
              “Initial
      Securities”                                                                                                                

            	
              Preamble

            
	
              “Issuer”                                                                                                                

            	
              Preamble

            
	
              “legal
      defeasance
      option”                                                                                                                

            	
              8.01

            
	
              “Notice
      of
      Default”                                                                                                                

            	
              6.01

            
	
              “Offer
      Period”                                                                                                                

            	
              4.06(d)

            
	
              “Original
      Securities”                                                                                                                

            	
              Preamble

            
	
              “Paying
      Agent”                                                                                                                

            	
              2.04(a)

            
	
              “protected
      purchaser”                                                                                                                

            	
              2.08

            
	
              “QIB”                                                                                                                

            	
              Appendix
      A

            
	
              “Refinancing
      Indebtedness”                                                                                                                

            	
              4.03(b)

            
	
              “Refunding
      Capital
      Stock”                                                                                                                

            	
              4.04(b)

            
	
              “Registered
      Exchange
      Offer”                                                                                                                

            	
              Appendix
      A

            
	
              “Registrar”                                                                                                                

            	
              2.04(a)

            
	
              “Registration
      Agreement”                                                                                                                

            	
              Appendix
      A

            
	
              “Regulation
      S”                                                                                                                

            	
              Appendix
      A

            
	
              “Regulation
      S Global
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Regulation
      S Permanent Global
      Security”                                                                                                                

            	
              Appendix
      A

            
	
              “Regulation
      S Temporary Global
      Security”                                                                                                                

            	
              Appendix
      A

            
	
              “Regulation
      S
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Restricted
      Payments”                                                                                                                

            	
              4.04(a)

            
	
              “Restricted
      Period”                                                                                                                

            	
              Appendix
      A

            
	
              “Restricted
      Securities
      Legend”                                                                                                                

            	
              Appendix
      A

            
	
              “Retired
      Capital
      Stock”                                                                                                                

            	
              4.04(b)

            
	
              “Reversion
      Date”                                                                                                                

            	
              4.16(c)

            
	
              “Rule
      144A”                                                                                                                

            	
              Appendix
      A

            
	
              “Rule
      144A Global
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Rule
      144A
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Rule
      501”                                                                                                                

            	
              Appendix
      A

            
	
              “Secured
      Leverage Calculation
      Date”                                                                                                                

            	
              1.01
      (definition of “Secured Indebtedness Leverage Ratio”)

            
	
              “Securities”                                                                                                                

            	
              Preamble

            
	
              “Securities
      Custodian”                                                                                                                

            	
              Appendix
      A

            

    

     

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

    
      	
              “securities
      default
      provisions”                                                                                                                

            	
              6.01(k)

            
	
              “Shelf
      Registration
      Statement”                                                                                                                

            	
              Appendix
      A

            
	
              “Successor
      Company”                                                                                                                

            	
              5.01(a)

            
	
              “Successor
      Note
      Guarantor”                                                                                                                

            	
              5.01(b)

            
	
              “Suspended
      Covenant”                                                                                                                

            	
              4.16(b)

            
	
              “Suspension
      Period”                                                                                                                

            	
              4.16(c)

            
	
              “Transfer”                                                                                                                

            	
              5.01(b)

            
	
              “Transfer
      Restricted
      Securities”                                                                                                                

            	
              Appendix
      A

            
	
              “Unrestricted
      Definitive
      Security                                                                                                                

            	
              Appendix
      A

            
	
              “Unrestricted
      Global
      Security                                                                                                                

            	
              Appendix
      A

            

    

    

    SECTION
1.03. Incorporation by Reference
of Trust Indenture Act.  This
Indenture incorporates by reference certain provisions of the
TIA.  The following TIA terms have the following
meanings:

     

    “indenture
securities” means the Securities and the Guarantees.

     

    “indenture
security holder” means a Holder.

     

    “indenture
to be qualified” means this Indenture.

     

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

     

    “Obligor”
on the indenture securities means the Company, the Note Guarantors and any other
obligor on the Securities.

     

    All other
TIA terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by SEC rule have the meanings assigned
to them by such definitions.

     

    SECTION
1.04. Rules of
Construction.  Unless
the context otherwise requires:

     

    (a) a term
has the meaning assigned to it;

     

    (b) an
accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     

    (c) “or” is
not exclusive;

     

    (d) “including”
means including without limitation;

     

    (e) words in
the singular include the plural and words in the plural include the
singular;

     

    (f) unsecured
Indebtedness shall not be deemed to be subordinate or junior to Secured
Indebtedness merely by virtue of its nature as unsecured
Indebtedness;

     

    (g) the
principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance
sheet of the issuer dated such date prepared in accordance with
GAAP;

     

    (h) the
principal amount of any Preferred Stock shall be (i) the maximum liquidation
value of such Preferred Stock or (ii) the maximum mandatory redemption or
mandatory repurchase price with respect to such Preferred Stock, whichever is
greater;

     

    
      
        
          

          
            	
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    (i) unless
otherwise specified herein, all accounting terms used herein shall be
interpreted, all accounting determinations hereunder shall be made, and all
financial statements required to be delivered hereunder shall be prepared in
accordance with GAAP;

     

    (j) “$” and
“U.S. Dollars” each refer to United States dollars, or such other money of the
United States of America that at the time of payment is legal tender for payment
of public and private debts; and

     

    (k) whenever
in this Indenture or the Securities there is mentioned, in any context,
principal, interest or any other amount payable under or with respect to any
Securities, such mention shall be deemed to include mention of the payment of
Additional Interest, to the extent that, in such context, Additional Interest
are, were or would be payable in respect thereof.

     

    ARTICLE
2

     

    THE
SECURITIES

     

    SECTION
2.01. Amount of
Securities.  The
aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture on the Issue Date is $680,600,000 in initial
aggregate principal amount of Securities.

     

    The
Issuer may from time to time after the Issue Date issue Additional Securities
under this Indenture in an unlimited principal amount, so long as (i) the
Incurrence of the Indebtedness represented by such Additional Securities is at
such time permitted by Section 4.03 and (ii) such Additional Securities are
issued in compliance with the other applicable provisions of this
Indenture.  With respect to any Additional Securities issued after the
Issue Date (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities pursuant to
Section 2.07, 2.08, 2.09, 2.10, 3.06, 4.08(c) or the Appendix), there shall be
(a) established in or pursuant to a resolution of the Board of Directors of the
Issuer and (b) (i) set forth or determined in the manner provided in an
Officers’ Certificate or (ii) established in one or more indentures supplemental
hereto, prior to the issuance of such Additional Securities:

     

    (1)           the
aggregate principal amount of such Additional Securities which may be
authenticated and delivered under this Indenture,

     

    (2)           the
issue price and issuance date of such Additional Securities, including the date
from which interest on such Additional Securities shall accrue;

     

    (3)           if
applicable, that such Additional Securities shall be issuable in whole or in
part in the form of one or more Global Securities and, in such case, the
respective depositaries for such Global Securities, the form of any legend or
legends which shall be borne by such Global Securities in addition to or in lieu
of those set forth in Exhibit A hereto and any circumstances in addition to
or in lieu of those set forth in Section 2.2 of the Appendix in which any such
Global Security may be exchanged in whole or in part for Additional Securities
registered, or any transfer of such Global Security in whole or in part may be
registered, in the name or names of Persons other than the depositary for such
Global Security or a nominee thereof; and

     

    (4)           if
applicable, that such Additional Securities that are not Transfer Restricted
Securities shall not be issued in the form of Initial Securities as set forth in
Exhibit A, but shall be issued in the form of Exchange Securities as set
forth in Exhibit B.

     

    If any of
the terms of any Additional Securities are established by action taken pursuant
to a resolution of the Board of Directors of the Issuer, a copy of an
appropriate record of such action shall be certified by the Secretary or any
Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Officers’ Certificate or the indenture supplemental hereto
setting forth the terms of the Additional Securities.

     

    
      
        
          

          
            	
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    The
Securities, including any Additional Securities, shall be treated as a single
class for all purposes under this Indenture, including, without limitation,
waivers, amendments, redemptions and offers to purchase.

     

    SECTION
2.02. Form and
Dating.  Provisions
relating to the Initial Securities, Additional Securities and the Exchange
Securities are set forth in the Appendix, which is hereby incorporated into and
expressly made a part of this Indenture.  The (i) Initial Securities
and the Trustee’s certificate of authentication and (ii) any Additional
Securities (if issued as Transfer Restricted Securities) and the Trustee’s
certificate of authentication shall each be substantially in the form of
Exhibit A hereto, which is hereby incorporated in and expressly made a part
of this Indenture.  The (i) Exchange Securities and the Trustee’s
certificate of authentication and (ii) any Additional Securities issued other
than as Transfer Restricted Securities and the Trustee’s certificate of
authentication shall each be substantially in the form of Exhibit B hereto,
which is hereby incorporated in and expressly made a part of this
Indenture.  The Securities may have notations, legends or endorsements
required by law, stock exchange rule, agreements to which the Issuer or any Note
Guarantor is subject, if any, or usage (provided that any such
notation, legend or endorsement is in a form acceptable to the
Issuer).  Each Security shall be dated the date of its
authentication.  The Securities shall be issuable only in registered
form without interest coupons and in denominations of $2,000 and any integral
multiples of $1,000.

     

    SECTION
2.03. Execution and
Authentication.  The
Trustee shall authenticate and make available for delivery upon a written order
of the Issuer signed by one Officer (a) Original Securities for original issue
on the date hereof in an aggregate principal amount of $680,600,000 in initial
aggregate principal amount of Securities (b) subject to the terms of this
Indenture, Additional Securities in an aggregate principal amount to be
determined at the time of issuance and specified therein and (c) the Exchange
Securities for issue in a Registered Exchange Offer pursuant to the Registration
Agreement for a like principal amount of Initial Securities exchanged pursuant
thereto or otherwise pursuant to an effective registration statement under the
Securities Act.  Such order shall specify the amount of the Securities
to be authenticated, the date on which the original issue of Securities is to be
authenticated and whether the Securities are to be Initial Securities or
Exchange Securities.  Notwithstanding anything to the contrary in this
Indenture or the Appendix, any issuance of Additional Securities after the Issue
Date shall be in a principal amount of at least $2,000 and integral multiples of
$1,000 in excess of $2,000.

     

    One
Officer shall sign the Securities for the Issuer by manual or facsimile
signature.

     

    If an
Officer whose signature is on a Security no longer holds that office at the time
the Trustee authenticates the Security, the Security shall be valid
nevertheless.

     

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

     

    The
Trustee may appoint one or more authenticating agents reasonably acceptable to
the Issuer to authenticate the Securities.  Any such appointment shall
be evidenced by an instrument signed by a Trust Officer, a copy of which shall
be furnished to the Issuer.  Unless limited by the terms of such
appointment, an authenticating agent may authenticate Securities whenever the
Trustee may do so.  Each reference in this Indenture to authentication
by the Trustee includes authentication by such agent.  An
authenticating agent has the same rights as any Registrar, Paying Agent or agent
for service of notices and demands.

     

    SECTION
2.04. Registrar and Paying
Agent.

     

    (a) The
Issuer shall maintain (i) an office or agency where Securities may be presented
for registration of transfer or for exchange (the “Registrar”) and (ii) an
office or agency where Securities may be presented for payment (the “Paying
Agent”).  The Registrar shall keep a register of the Securities and of
their transfer and exchange.  The Issuer may have one or more
co-registrars and one or more additional paying agents.  The term
“Registrar” includes any co-registrars.  The term “Paying Agent”
includes the Paying Agent and any additional paying agents.  The
Issuer initially appoints the Trustee as Registrar, Paying Agent and the
Securities Custodian with respect to the Global Securities.

     

    
      
        
          

          
            	
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    (b) The
Issuer may enter into an appropriate agency agreement with any Registrar or
Paying Agent not a party to this Indenture, which shall incorporate the terms of
the TIA.  The agreement shall implement the provisions of this
Indenture that relate to such agent.  The Issuer shall notify the
Trustee of the name and address of any such agent.  If the Issuer
fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and
shall be entitled to appropriate compensation therefor pursuant to Section
7.07.  The Issuer or any of its domestically organized Wholly Owned
Subsidiaries may act as Paying Agent or Registrar.

     

    (c) The
Issuer may remove any Registrar or Paying Agent upon written notice to such
Registrar or Paying Agent and to the Trustee; provided, however, that no such removal
shall become effective until (i) if applicable, acceptance of an appointment by
a successor as evidenced by an appropriate agreement entered into by the Issuer
and such successor Registrar or Paying Agent, as the case may be, and delivered
to the Trustee or (ii) notification to the Trustee that the Trustee shall serve
as Registrar or Paying Agent until the appointment of a successor in accordance
with clause (i) above.  The Registrar or Paying Agent may resign at
any time upon written notice to the Issuer and the Trustee; provided, however, that the Trustee may
resign as Paying Agent or Registrar only if the Trustee also resigns as Trustee
in accordance with Section 7.08.

     

    SECTION
2.05. Paying Agent to Hold Money
in Trust.  Prior
to or on each due date of the principal of and interest on any Security, the
Issuer shall deposit with each Paying Agent (or if the Issuer or a Wholly Owned
Subsidiary is acting as Paying Agent, segregate and hold in trust for the
benefit of the Persons entitled thereto) a sum sufficient to pay such principal
and interest when so becoming due.  The Issuer shall require each
Paying Agent (other than the Trustee) to agree in writing that a Paying Agent
shall hold in trust for the benefit of Holders or the Trustee all money held by
a Paying Agent for the payment of principal of and interest on the Securities,
and shall notify the Trustee of any default by the Issuer in making any such
payment.  If the Issuer or a Wholly Owned Subsidiary of the Issuer
acts as Paying Agent, it shall segregate the money held by it as Paying Agent
and hold it in trust for the benefit of the Persons entitled
thereto.  The Issuer at any time may require a Paying Agent to pay all
money held by it to the Trustee and to account for any funds disbursed by such
Paying Agent.  Upon complying with this Section, a Paying Agent shall
have no further liability for the money delivered to the Trustee.

     

    SECTION
2.06. Holder
Lists.  The
Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of
Holders.  If the Trustee is not the Registrar, the Issuer shall
furnish, or cause the Registrar to furnish, to the Trustee, in writing at least
five Business Days before each interest payment date and at such other times as
the Trustee may request in writing, a list in such form and as of such date as
the Trustee may reasonably require of the names and addresses of
Holders.

     

    SECTION
2.07. Transfer and
Exchange.  The
Securities shall be issued in registered form and shall be transferable only
upon the surrender of a Security for registration of transfer and in compliance
with the Appendix.  When a Security is presented to the Registrar with
a request to register a transfer, the Registrar shall register the transfer as
requested if its requirements therefor are met.  When Securities are
presented to the Registrar with a request to exchange them for an equal
principal amount of Securities of other denominations, the Registrar shall make
the exchange as requested if the same requirements are met.  To permit
registration of transfers and exchanges, the Issuer shall execute and the
Trustee shall authenticate Securities at the Registrar’s request.  The
Issuer may require payment of a sum sufficient to pay all taxes, assessments or
other governmental charges in connection with any transfer or exchange pursuant
to this Section.  The Issuer shall not be required to make, and the
Registrar need not register, transfers or exchanges of Securities selected for
redemption (except, in the case of Securities to be redeemed in part, the
portion thereof not to be redeemed) or of any Securities for a period of 15 days
before a selection of Securities to be redeemed.

     

    Prior to
the due presentation for registration of transfer of any Security, the Issuer,
the Note Guarantors, the Trustee, the Paying Agent and the Registrar may deem
and treat the Person in whose name a Security is registered as the absolute
owner of such Security for the purpose of receiving payment of principal of and
interest, if any, on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, any Note
Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by
notice to the contrary.

     

    
      
        
          

          
            	
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    Any
Holder of a beneficial interest in a Global Security shall, by acceptance of
such beneficial interest, agree that transfers of beneficial interests in such
Global Security may be effected only through a book-entry system maintained by
(a) the Holder of such Global Security (or its agent) or (b) any Holder of a
beneficial interest in such Global Security, and that ownership of a beneficial
interest in such Global Security shall be required to be reflected in a book
entry.

     

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

     

    SECTION
2.08. Replacement
Securities.  If
a mutilated Security is surrendered to the Registrar or if the Holder of a
Security claims that the Security has been lost, destroyed or wrongfully taken,
the Issuer shall issue and the Trustee shall authenticate a replacement Security
if the requirements of Section 8-405 of the New York UCC are met, such that the
Holder (a) satisfies the Issuer or the Trustee within a reasonable time after
such Holder has notice of such loss, destruction or wrongful taking and the
Registrar does not register a transfer prior to receiving such notification, (b)
makes such request to the Issuer or the Trustee prior to the Security being
acquired by a protected purchaser as defined in Section 8-303 of the New York
UCC (a “protected purchaser”) and (c) satisfies any other reasonable
requirements of the Trustee.  If required by the Trustee or the
Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment
of the Trustee or the Issuer to protect the Issuer, the Trustee, a Paying Agent
and the Registrar from any loss that any of them may suffer if a Security is
replaced.  The Issuer and the Trustee may charge the Holder for their
expenses in replacing a Security (including without limitation, attorneys’ fees
and disbursements in replacing such Security).  In the event any such
mutilated, lost, destroyed or wrongfully taken Security has become or is about
to become due and payable, the Issuer in its discretion may pay such Security
instead of issuing a new Security in replacement thereof.

     

    Every
replacement Security is an additional obligation of the Issuer.

     

    The
provisions of this Section 2.08 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment
of mutilated, lost, destroyed or wrongfully taken Securities.

     

    SECTION
2.09. Outstanding
Securities.  Securities
outstanding at any time are all Securities authenticated by the Trustee except
for those canceled by it, those delivered to it for cancellation and those
described in this Section as not outstanding.  Subject to Section
13.06, a Security does not cease to be outstanding because the Issuer or an
Affiliate of the Issuer holds the Security.

     

    If a
Security is replaced pursuant to Section 2.08 (other than a mutilated Security
surrendered for replacement), it ceases to be outstanding unless the Trustee and
the Issuer receive proof satisfactory to them that the replaced Security is held
by a protected purchaser.  A mutilated Security ceases to be
outstanding upon surrender of such Security and replacement thereof pursuant to
Section 2.08.

     

    If a
Paying Agent segregates and holds in trust, in accordance with this Indenture,
on a redemption date or maturity date money sufficient to pay all principal and
interest payable on that date with respect to the Securities (or portions
thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is
prohibited from paying such money to the Holders on that date pursuant to the
terms of this Indenture, then on and after that date such Securities (or
portions thereof) cease to be outstanding and interest on them ceases to
accrue.

     

    SECTION
2.10. Temporary
Securities.  In
the event that Definitive Securities are to be issued under the terms of this
Indenture, until such Definitive Securities are ready for delivery, the Issuer
may prepare and the Trustee shall authenticate temporary
Securities.  Temporary Securities shall be substantially in the form
of Definitive Securities but may have variations that the Issuer considers
appropriate for temporary Securities.  Without unreasonable delay, the
Issuer shall prepare and the Trustee shall authenticate Definitive Securities
and make them available for delivery in exchange for temporary Securities upon
surrender of such temporary Securities at the office or agency of the Issuer,
without charge to the Holder.  Until such exchange, temporary
Securities shall be entitled to the same rights, benefits and privileges as
Definitive Securities.

     

    
      
        
          

          
            	
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    Cancellation.  The
Issuer at any time may deliver Securities to the Trustee for
cancellation.  The Registrar and each Paying Agent shall forward to
the Trustee any Securities surrendered to them for registration of transfer,
exchange or payment.  The Trustee and no one else shall cancel all
Securities surrendered for registration of transfer, exchange, payment or
cancellation and shall dispose of canceled Securities in accordance with its
customary procedures.  The Issuer may not issue new Securities to
replace Securities it has redeemed, paid or delivered to the Trustee for
cancellation.  The Trustee shall not authenticate Securities in place
of canceled Securities other than pursuant to the terms of this
Indenture.

     

    SECTION
2.11. Defaulted
Interest.  If
the Issuer defaults in a payment of interest on the Securities, the Issuer shall
pay the defaulted interest then borne by the Securities (plus interest on such
defaulted interest to the extent lawful) in any lawful manner.  The
Issuer may pay the defaulted interest to the Persons who are Holders on a
subsequent special record date.  The Issuer shall fix or cause to be
fixed any such special record date and payment date to the reasonable
satisfaction of the Trustee and shall promptly mail or cause to be sent to each
affected Holder a notice that states the special record date, the payment date
and the amount of defaulted interest to be paid.

     

    SECTION
2.12. CUSIP Numbers, ISINs,
etc.  The
Issuer in issuing the Securities may use CUSIP numbers, ISINs and “Common Code”
numbers (if then generally in use) and, if so, the Trustee shall use CUSIP
numbers, ISINs and “Common Code” numbers in notices of redemption as a
convenience to Holders; provided, however, that any such notice
may state that no representation is made as to the correctness of such numbers,
either as printed on the Securities or as contained in any notice of a
redemption that reliance may be placed only on the other identification numbers
printed on the Securities and that any such redemption shall not be affected by
any defect in or omission of such numbers.  The Issuer shall advise
the Trustee of any change in the CUSIP numbers, ISINs and “Common Code”
numbers.

     

    SECTION
2.13. Calculation of Principal
Amount of Securities.  The
aggregate principal amount of the Securities, at any date of determination,
shall be the principal amount of the Securities outstanding at such date of
determination.  With respect to any matter requiring consent, waiver,
approval or other action of the Holders of a specified percentage of the
principal amount of all the Securities, such percentage shall be calculated, on
the relevant date of determination, by dividing (a) the principal amount, as of
such date of determination, of Securities, the Holders of which have so
consented, by (b) the aggregate principal amount, as of such date of
determination, of the Securities then outstanding, in each case, as determined
in accordance with the preceding sentence, Section 2.09 and Section 13.06 of
this Indenture.  Any such calculation made pursuant to this Section
2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an
Officers’ Certificate.

     

    ARTICLE
3

     

    REDEMPTION

     

    SECTION
3.01. Redemption.  The
Securities may be redeemed, in whole, or from time to time in part, subject to
the conditions and at the redemption prices set forth in Paragraph 5 of the form
of Securities set forth in Exhibit A and Exhibit B hereto, which are
hereby incorporated by reference and made a part of this Indenture, together
with accrued and unpaid interest to the redemption date.

     

    SECTION
3.02. Applicability of
Article.  Redemption
of Securities at the election of the Company or otherwise, as permitted or
required by any provision of this Indenture, shall be made in accordance with
such provision and this Article.

     

    SECTION
3.03. Notices to
Trustee.  If
the Issuer elects to redeem Securities pursuant to the optional redemption
provisions of Paragraph 5 of the Security, it shall notify the Trustee in
writing of (i) the Section of this Indenture pursuant to which the redemption
shall occur, (ii) the redemption date, (iii) the principal amount of Securities
to be redeemed and (iv) the redemption price.  The Issuer shall give
notice to the Trustee provided for in this paragraph at least 30 days but not
more than 60 days before a redemption date if the redemption is pursuant to
Paragraph 5 of the Security, unless a shorter period is acceptable to the
Trustee.  Such notice shall be accompanied by an Officers’ Certificate
and Opinion of Counsel from the Issuer to the effect that such redemption will
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    with the
conditions herein.  If fewer than all the Securities are to be
redeemed, the record date relating to such redemption shall be selected by the
Company and given to the Trustee, which record date shall be not fewer than 15
days after the date of notice to the Trustee.  Any such notice may be
canceled at any time prior to notice of such redemption being sent to any Holder
and shall thereby be void and of no effect.

     

    SECTION
3.04. Selection of Securities to
Be Redeemed.  In
the case of any partial redemption, selection of Securities for redemption will
be made by the Trustee on a pro rata basis to the extent practicable; provided that no Securities
of $2,000 or less shall be redeemed in part.  The Trustee shall make
the selection from outstanding Securities not previously called for
redemption.  The Trustee may select for redemption portions of the
principal of Securities that have denominations larger than
$2,000.  Securities and portions of them the Trustee selects shall be
in amounts of $2,000 or any integral multiple of $1,000.  Provisions
of this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption.  The Trustee shall
notify the Company promptly of the Securities or portions of Securities to be
redeemed.

     

    SECTION
3.05. Notice of Optional
Redemption.

     

    (a) At least
30 days but not more than 60 days before a redemption date pursuant to Paragraph
5 of the Security, the Issuer shall mail or cause to be mailed by first-class
mail or cause to be sent electronically a notice of redemption to each Holder
whose Securities are to be redeemed.

     

    Any such
notice shall identify the Securities to be redeemed and shall
state:

     

    (i) the
redemption date;

     

    (ii) the
redemption price and the amount of accrued interest to the redemption
date;

     

    (iii) the name
and address of the Paying Agent;

     

    (iv) that
Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price, plus accrued interest;

     

    (v) if fewer
than all the outstanding Securities are to be redeemed, the certificate numbers
and principal amounts of the particular Securities to be redeemed, the aggregate
principal amount of Securities to be redeemed and the aggregate principal amount
of Securities to be outstanding after such partial redemption;

     

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

     

    (vii) the CUSIP
number, ISIN and/or “Common Code” number, if any, printed on the Securities
being redeemed; and

     

    (viii) that no
representation is made as to the correctness or accuracy of the CUSIP number or
ISIN and/or “Common Code” number, if any, listed in such notice or printed on
the Securities.

     

    (b) At the
Issuer’s request, the Trustee shall give the notice of redemption in the
Issuer’s name and at the Issuer’s expense.  In such event, the Issuer
shall provide the Trustee with the information required by this Section at least
one Business Day prior to the date such notice is to be provided to Holders and
such notice may not be canceled.

     

    SECTION
3.06. Effect of Notice of
Redemption.  Once
notice of redemption is mailed or sent in accordance with Section 3.05,
Securities called for redemption become due and payable on the redemption date
and at the redemption price stated in the notice, except as provided in the
final sentence of paragraph 5 of the Securities.  Upon surrender to
the Paying Agent, such Securities shall be paid at the redemption price stated
in the notice,

     

    
      
        
          

          
            	
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    plus
accrued interest, to, but not including, the redemption date; provided, however, that if the
redemption date is after a regular record date and on or prior to the interest
payment date, the accrued interest shall be payable to the Holder of the
redeemed Securities registered on the relevant record date.  Failure
to give notice or any defect in the notice to any Holder shall not affect the
validity of the notice to any other Holder.

     

    SECTION
3.07. Deposit of Redemption
Price.  With
respect to any Securities, prior to 10:00 a.m., New York City time, on the
redemption date, the Issuer shall deposit with the Paying Agent (or, if the
Issuer or a Wholly Owned Subsidiary is the Paying Agent, shall segregate and
hold in trust) money sufficient to pay the redemption price of and accrued
interest on all Securities or portions thereof to be redeemed on that date other
than Securities or portions of Securities called for redemption that have been
delivered by the Issuer to the Trustee for cancellation.  On and after
the redemption date, interest shall cease to accrue on Securities or portions
thereof called for redemption so long as the Issuer has deposited with the
Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid
interest on, the Securities to be redeemed, unless the Paying Agent is
prohibited from making such payment pursuant to the terms of this
Indenture.

     

    SECTION
3.08. Securities Redeemed in
Part.  Upon
surrender of a Security that is redeemed in part, the Issuer shall execute and
the Trustee shall authenticate for the Holder (at the Issuer’s expense) a new
Security equal in principal amount to the unredeemed portion of the Security
surrendered.

     

    ARTICLE
4

     

    COVENANTS

     

    SECTION
4.01. Payment of
Securities.  The
Issuer shall promptly pay the principal of and interest on the Securities on the
dates and in the manner provided in the Securities and in this
Indenture.  An installment of principal of or interest shall be
considered paid on the date due if on such date the Trustee or the Paying Agent
holds as of 12:00 p.m. New York City time money sufficient to pay all
principal and interest then due and the Trustee or the Paying Agent, as the case
may be, is not prohibited from paying such money to the Holders on that date
pursuant to the terms of this Indenture.

     

    The
Issuer shall pay interest on overdue principal at the rate specified therefor in
the Securities, and it shall pay interest on overdue installments of interest at
the same rate borne by the Securities to the extent lawful.

     

    SECTION
4.02. Reports and Other
Information.

     

    (a) Notwithstanding
that the Issuer may not be subject to the reporting requirements of Section 13
or 15(d) of the Exchange Act or otherwise report on an annual and quarterly
basis on forms provided for such annual and quarterly reporting pursuant to
rules and regulations promulgated by the SEC, the Issuer shall file with the SEC
(and provide the Trustee and Holders with copies thereof, without cost to each
Holder, within 15 days after it files them with the SEC),

     

    (i) within
the time period specified in the SEC’s rules and regulations, annual reports on
Form 10-K (or any successor or comparable form) containing the information
required to be contained therein (or required in such successor or comparable
form),

     

    (ii) within
the time period specified in the SEC’s rules and regulations, reports on Form
10-Q (or any successor or comparable form) containing the information required
to be contained therein (or required in such successor or comparable
form),

     

    (iii) promptly
from time to time after the occurrence of an event required to be therein
reported (and in any event within the time period specified in the SEC’s rules
and regulations), such other reports on Form 8-K (or any successor or comparable
form), and

     

    
      
        
          

          
            	
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    (iv) any other
information, documents and other reports which the Issuer would be required to
file with the SEC if it were subject to Section 13 or 15(d) of the Exchange
Act;

     

    provided, however, that the Issuer
shall not be so obligated to file such reports with the SEC if the SEC does not
permit such filing, in which event the Issuer shall make available such
information to prospective purchasers of Securities, including by posting such
reports on the primary website of the Issuer or its Subsidiaries in addition to
providing such information to the Trustee and the Holders, in each case within
15 days after the time the Issuer would be required to file such information
with the SEC if it were subject to Section 13 or 15(d) of the Exchange
Act.

     

    (b) In the
event that:

     

    (i) the rules
and regulations of the SEC permit the Issuer and any direct or indirect parent
of the Issuer to report at such parent entity’s level on a consolidated basis
and

     

    (ii) such
parent entity of the Issuer is not engaged in any business in any material
respect other than incidental to its ownership, directly or indirectly, of the
Capital Stock of the Issuer,

     

    such
consolidated reporting at such parent entity’s level in a manner consistent with
that described in this Section 4.02 for the Issuer shall satisfy this Section
4.02.

     

    (c) The
Issuer shall make such information available to prospective investors upon
request.  In addition, the Issuer shall, for so long as any Securities
remain outstanding during any period when it is not subject to Section 13 or
15(d) of the Exchange Act, or otherwise permitted to furnish the SEC with
certain information pursuant to Rule 12g3-2(b) of the Exchange Act, furnish to
the Holders and to prospective investors, upon their request, the information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities
Act.

     

    Notwithstanding
the foregoing, the Issuer will be deemed to have furnished such reports referred
to above to the Trustee and the Holders if the Issuer has filed such reports
with the SEC via the EDGAR filing system and such reports are publicly
available.  In addition, such requirements shall be deemed satisfied
prior to the commencement of the exchange offer contemplated by the Registration
Agreement relating to the Securities or the effectiveness of the shelf
registration statement by the filing with the SEC of the Exchange Offer
Registration Statement and/or Shelf Registration Statement in accordance with
the provisions of such Registration Agreement, and any amendments thereto if
such Registration Statement and/or amendments thereto are filed at times that
otherwise satisfy the time requirements set forth in Section
4.02(a).

     

    In the
event that any direct or indirect parent of the Issuer is or becomes a Note
Guarantor of the Securities, the Issuer may satisfy its obligations under this
Section 4.02 with respect to financial information relating to the Issuer by
furnishing financial information relating to such direct or indirect parent;
provided that the same
is accompanied by consolidating information that explains in reasonable detail
the differences between the information relating to such direct or indirect
parent and any of its Subsidiaries other than the Issuer and its Subsidiaries,
on the one hand, and the information relating to the Issuer, the Note Guarantors
and the other Subsidiaries of the Issuer on a standalone basis, on the other
hand.

     

    SECTION
4.03. Limitation on Incurrence of
Indebtedness and Issuance of Disqualified Stock and Preferred
Stock.

     

    (a) (i) The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness)
or issue any shares of Disqualified Stock; and (ii) the Issuer shall not permit
any of its Restricted Subsidiaries (other than a Note Guarantor) to issue any
shares of Preferred Stock; provided, however, that the Issuer and
any Restricted Subsidiary that is a Note Guarantor or a Foreign Subsidiary may
Incur Indebtedness (including Acquired Indebtedness) or issue shares of
Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred
Stock, in each case if the Fixed Charge Coverage Ratio of the Issuer for the
most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date on which such additional
Indebtedness is Incurred or such Disqualified Stock or Preferred Stock is issued
would have been at least 2.00 to 1.00 determined on a pro forma basis
(including

     

    
      
        
          

          
            	
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    (b) a pro
forma application of the net proceeds therefrom), as if the additional
Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had
been issued, as the case may be, and the application of proceeds therefrom had
occurred at the beginning of such four-quarter period.

     

    (c) The
limitations set forth in Section 4.03(a) shall not apply to:

     

    (i) the
Incurrence by the Issuer or its Restricted Subsidiaries of Secured Indebtedness
under the Credit Agreements and the issuance and creation of letters of credit
and bankers’ acceptances thereunder (with letters of credit and bankers’
acceptances being deemed to have a principal amount equal to the face amount
thereof) in the aggregate principal amount of $1,600.0 million plus an aggregate
additional principal amount outstanding at any one time that does not cause the
Secured Indebtedness Leverage Ratio of the Issuer to exceed 4.00 to 1.00,
determined on a pro forma basis (including a pro forma application of the net
proceeds therefrom);

     

    (ii) the
Incurrence by the Issuer and the Note Guarantors of Indebtedness represented by
the Securities (not including any Additional Securities) and the Guarantees, as
applicable (including the Exchange Securities and related guarantees
thereof);

     

    (iii) Indebtedness
existing on the Issue Date (other than Indebtedness described in clauses (i) and
(ii) of this Section 4.03(b));

     

    (iv) Indebtedness
(including Capitalized Lease Obligations) Incurred by the Issuer or any of its
Restricted Subsidiaries, Disqualified Stock issued by the Issuer or any of its
Restricted Subsidiaries and Preferred Stock issued by any Restricted
Subsidiaries of the Issuer to finance (whether prior to or within 270 days
after) the purchase, lease, construction or improvement of property (real or
personal) or equipment (whether through the direct purchase of assets or the
Capital Stock of any Person owning such assets (but no other material
assets));

     

    (v) Indebtedness
Incurred by the Issuer or any of its Restricted Subsidiaries constituting
reimbursement obligations with respect to letters of credit and bank guarantees
issued in the ordinary course of business, including without limitation letters
of credit in respect of workers’ compensation claims, health, disability or
other benefits to employees or former employees or their families or property,
casualty or liability insurance or self-insurance, and letters of credit in
connection with the maintenance of, or pursuant to the requirements of,
environmental or other permits or licenses from governmental authorities, or
other Indebtedness with respect to reimbursement type obligations regarding
workers’ compensation claims;

     

    (vi) Indebtedness
arising from agreements of the Issuer or a Restricted Subsidiary providing for
indemnification, adjustment of purchase price or similar obligations, in each
case, Incurred in connection with the Transactions or any other acquisition or
disposition of any business, assets or a Subsidiary of the Issuer in accordance
with the terms of this Indenture, other than guarantees of Indebtedness Incurred
by any Person acquiring all or any portion of such business, assets or
Subsidiary for the purpose of financing such acquisition;

     

    (vii) Indebtedness
of the Issuer to a Restricted Subsidiary; provided that any such
Indebtedness owed to a Restricted Subsidiary that is not a Note Guarantor is
subordinated in right of payment to the obligations of the Issuer under the
Securities; provided,
further, that any
subsequent issuance or transfer of any Capital Stock or any other event which
results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary
or any other subsequent transfer of any such Indebtedness (except to the Issuer
or another Restricted Subsidiary) shall be deemed, in each case, to be an
Incurrence of such Indebtedness;

     

    (viii) shares of
Preferred Stock of a Restricted Subsidiary issued to the Issuer or another
Restricted Subsidiary; provided that any subsequent
issuance or transfer of any Capital Stock or any other event which results in
any Restricted Subsidiary that holds such shares of Preferred Stock of another
Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other
subsequent transfer of any such shares

     

    
      
        
          

          
            	
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    (ix) of
Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be
deemed, in each case, to be an issuance of shares of Preferred
Stock;

     

    (x) Indebtedness
of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary; provided that if a Note
Guarantor incurs such Indebtedness to a Restricted Subsidiary that is not a Note
Guarantor, such Indebtedness is subordinated in right of payment to the
Guarantee of such Note Guarantor; provided, further, that any subsequent
issuance or transfer of any Capital Stock or any other event which results in
any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted
Subsidiary or any other subsequent transfer of any such Indebtedness (except to
the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to
be an Incurrence of such Indebtedness;

     

    (xi) Hedging
Obligations that are not incurred for speculative purposes and either:
(1) for the purpose of fixing or hedging interest rate risk with respect to
any Indebtedness that is permitted by the terms of this Indenture to be
outstanding; (2) for the purpose of fixing or hedging currency exchange rate
risk with respect to any currency exchanges; or (3) for the purpose of fixing or
hedging commodity price risk (including resin price risk) with respect to any
commodity purchases or sales;

     

    (xii) obligations
in respect of performance, bid, appeal and surety bonds and completion
guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary
course of business;

     

    (xiii) Indebtedness
or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer
and Preferred Stock of any Restricted Subsidiary of the Issuer not otherwise
permitted hereunder in an aggregate principal amount which, when aggregated with
the principal amount or liquidation preference of all other Indebtedness,
Disqualified Stock and Preferred Stock then outstanding and Incurred pursuant to
this clause (xii), does not exceed the greater of $100.0 million and 4.5% of
Total Assets at the time of Incurrence (it being understood that any
Indebtedness Incurred under this clause (xii) shall cease to be deemed Incurred
or outstanding for purposes of this clause (xii) but shall be deemed Incurred
for purposes of Section 4.03(a) from and after the first date on which the
Issuer, or the Restricted Subsidiary, as the case may be, could have Incurred
such Indebtedness under Section 4.03(a) without reliance upon this clause
(xii));

     

    (xiv) any
guarantee by the Issuer or a Note Guarantor of Indebtedness or other obligations
of the Issuer or any of its Restricted Subsidiaries so long as the Incurrence of
such Indebtedness Incurred by the Issuer or such Restricted Subsidiary is
permitted under the terms of this Indenture; provided that if such
Indebtedness is by its express terms subordinated in right of payment to the
Securities or the Guarantee of such Restricted Subsidiary, as applicable, any
such guarantee of such Note Guarantor with respect to such Indebtedness shall be
subordinated in right of payment to such Note Guarantor’s Guarantee with respect
to the Securities substantially to the same extent as such Indebtedness is
subordinated to the Securities or the Guarantee of such Restricted Subsidiary,
as applicable;

     

    (xv) the
Incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness
or Disqualified Stock or Preferred Stock of a Restricted Subsidiary of the
Issuer which serves to refund, refinance or defease any Indebtedness Incurred or
Disqualified Stock or Preferred Stock issued as permitted under Section 4.03(a)
and clauses (ii), (iii), (iv), (xiv), (xv), (xix) and (xx) of this Section
4.03(b) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to
so refund or refinance such Indebtedness, Disqualified Stock or Preferred Stock,
including any Indebtedness, Disqualified Stock or Preferred Stock Incurred to
pay premiums and fees in connection therewith (subject to the following proviso,
“Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such
Refinancing Indebtedness:

     

    (1) has a
Weighted Average Life to Maturity at the time such Refinancing Indebtedness is
Incurred which is not less than the remaining Weighted Average Life to Maturity
of the Indebtedness, Disqualified Stock or Preferred Stock being refunded or
refinanced;

     

    
      
        
          

          
            	
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    (2) has a
Stated Maturity which is not earlier than the earlier of (x) the Stated Maturity
of the Indebtedness being refunded or refinanced or (y) 91 days following the
last maturity date of the Securities;

     

    (3) to the
extent such Refinancing Indebtedness refinances (a) Indebtedness junior to the
Securities or the Guarantee of such Restricted Subsidiary, as applicable, such
Refinancing Indebtedness is junior to the Securities or the Guarantee of such
Restricted Subsidiary, as applicable, or (b) Disqualified Stock or Preferred
Stock, such Refinancing Indebtedness is Disqualified Stock or Preferred
Stock;

     

    (4) is
Incurred in an aggregate amount (or if issued with original issue discount, an
aggregate issue price) that is equal to or less than the aggregate amount (or if
issued with original issue discount, the aggregate accreted value) then
outstanding of the Indebtedness being refinanced plus premium,  fees
and expenses Incurred in connection with such refinancing;

     

    (5) shall not
include (x) Indebtedness of a Restricted Subsidiary of the Issuer that is not a
Note Guarantor that refinances Indebtedness of the Issuer or a Restricted
Subsidiary that is a Note Guarantor, or (y) Indebtedness of the Issuer or a
Restricted Subsidiary that refinances Indebtedness of an Unrestricted
Subsidiary; and

     

    (6) in the
case of any Refinancing Indebtedness Incurred to refinance Indebtedness
outstanding under clause (iv) or (xx) of this Section 4.03(b), shall be deemed
to have been Incurred and to be outstanding under such clause (iv) or (xx) of
this Section 4.03(b), as applicable, and not this clause (xiv) for purposes of
determining amounts outstanding under such clauses (iv) and (xx) of this Section
4.03(b);

     

    provided, further, that subclauses (1)
and (2) of this clause (xiv) shall not apply to any refunding or refinancing of
any Secured Indebtedness constituting First Priority Lien
Obligations;

     

    (xvi) Indebtedness,
Disqualified Stock or Preferred Stock of (x) the Issuer or any of its Restricted
Subsidiaries incurred to finance an acquisition or (y) Persons that are acquired
by the Issuer or any of its Restricted Subsidiaries or merged with or into the
Issuer or any of its Restricted Subsidiaries in accordance with the terms of
this Indenture; provided, however, that after giving
effect to such acquisition or merger either:

     

    (1) the
Issuer would be permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in the first sentence
of Section 4.03(a); or

     

    (2) the Fixed
Charge Coverage Ratio of the Issuer would be greater than immediately prior to
such acquisition or merger;

     

    (xvii) Indebtedness
Incurred by a Receivables Subsidiary in a Qualified Receivables Financing that
is not recourse to the Issuer or any Restricted Subsidiary other than a
Receivables Subsidiary (except for Standard Securitization
Undertakings);

     

    (xviii) Indebtedness
arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument drawn against insufficient funds in the ordinary
course of business; provided that such
Indebtedness is extinguished within five Business Days of its
Incurrence;

     

    (xix) Indebtedness
of the Issuer or any Restricted Subsidiary supported by a letter of credit or
bank guarantee issued pursuant to any Credit Agreement, in a principal amount
not in excess of the stated amount of such letter of credit;

     

    (xx) Contribution
Indebtedness;

     

    
      
        
          

          
            	
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    (xxi) Indebtedness
of Foreign Subsidiaries, provided, however, that the aggregate
principal amount of Indebtedness Incurred under this clause (xx), when
aggregated with the principal amount of all other Indebtedness then outstanding
and Incurred pursuant to this clause (xx), does not exceed $25.0 million at any
one time outstanding;

     

    (xxii) Indebtedness
of the Issuer or any Restricted Subsidiary consisting of (x) the financing of
insurance premiums or (y) take-or-pay obligations contained in supply
arrangements, in each case, in the ordinary course of business; and

     

    (xxiii) Indebtedness
incurred on behalf of, or representing guarantees of Indebtedness of, joint
ventures of the Issuer or any Restricted Subsidiary not in excess, at any one
time outstanding, of $7.5 million.

     

    For
purposes of determining compliance with this Section 4.03, in the event that an
item of Indebtedness, Disqualified Stock or Preferred Stock meets the criteria
of more than one of the categories of permitted Indebtedness described in
clauses (i) through (xxii) above or is entitled to be Incurred pursuant to
Section 4.03(a), the Issuer shall, in its sole discretion, classify or
reclassify, or later divide, classify or reclassify, such item of Indebtedness
in any manner that complies with this Section 4.03.  Accrual of
interest, the accretion of accreted value, the payment of interest in the form
of additional Indebtedness with the same terms, the payment of dividends on
Preferred Stock in the form of additional shares of Preferred Stock of the same
class, accretion or amortization of original issue discount or liquidation
preference and increases in the amount of Indebtedness outstanding solely as a
result of fluctuations in the exchange rate of currencies shall not be deemed to
be an Incurrence of Indebtedness for purposes of this Section
4.03.  Guarantees of, or obligations in respect of letters of credit
relating to, Indebtedness which is otherwise included in the determination of a
particular amount of Indebtedness shall not be included in the determination of
such amount of Indebtedness; provided that the Incurrence
of the Indebtedness represented by such guarantee or letter of credit, as the
case may be, was in compliance with this Section 4.03.

     

    For
purposes of determining compliance with any U.S. dollar-denominated restriction
on the Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount
of Indebtedness denominated in a foreign currency shall be calculated based on
the relevant currency exchange rate in effect on the date such Indebtedness was
Incurred, in the case of term debt, or first committed or first Incurred
(whichever yields the lower U.S. dollar equivalent), in the case of revolving
credit debt; provided
that if such Indebtedness is Incurred to refinance other Indebtedness
denominated in a foreign currency, and such refinancing would cause the
applicable U.S. dollar-denominated restriction to be exceeded if calculated at
the relevant currency exchange rate in effect on the date of such refinancing,
such U.S. dollar-denominated restriction shall be deemed not to have been
exceeded so long as the principal amount of such refinancing Indebtedness does
not exceed the principal amount of such Indebtedness being
refinanced.

     

    SECTION
4.04. Limitation on Restricted
Payments.

     

    (a) The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly:

     

    (i) declare
or pay any dividend or make any distribution on account of the Issuer’s or any
of its Restricted Subsidiaries’ Equity Interests, including any payment made in
connection with any merger, amalgamation or consolidation involving the Issuer
(other than (A) dividends or distributions by the Issuer payable solely in
Equity Interests (other than Disqualified Stock) of the Issuer; or (B) dividends
or distributions by a Restricted Subsidiary so long as, in the case of any
dividend or distribution payable on or in respect of any class or series of
securities issued by a Restricted Subsidiary other than a Wholly Owned
Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least
its pro rata share of such dividend or distribution in accordance with its
Equity Interests in such class or series of securities);

     

    (ii) purchase
or otherwise acquire or retire for value any Equity Interests of the Issuer or
any direct or indirect parent of the Issuer;

     

    
      
        
          

          
            	
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    (iii) make any
principal payment on, or redeem, repurchase, defease or otherwise acquire or
retire for value, in each case prior to any scheduled repayment or scheduled
maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted
Subsidiaries (other than the payment, redemption, repurchase, defeasance,
acquisition or retirement of (A) Subordinated Indebtedness in anticipation of
satisfying a sinking fund obligation, principal installment or final maturity,
in each case due within one year of the date of such payment, redemption,
repurchase, defeasance, acquisition or retirement and (B) Indebtedness permitted
under clauses (vii) and (ix) of Section 4.03(b)); or

     

    (iv) make any
Restricted Investment;

     

    (all such
payments and other actions set forth in clauses (i) through (iv) above being
collectively referred to as “Restricted Payments”), unless, at the time of such
Restricted Payment:

     

    (1)           no
Default shall have occurred and be continuing or would occur as a consequence
thereof;

     

    (2)           immediately
after giving effect to such transaction on a pro forma basis, the Issuer could
Incur $1.00 of additional Indebtedness under Section 4.03(a); and

     

    (3)           such
Restricted Payment, together with the aggregate amount of all other Restricted
Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date
(including Restricted Payments permitted by clauses (i), (iv) (only to the
extent of one-half of the amounts paid pursuant to such clause), (vi) and (viii)
of Section 4.04(b), but excluding all other Restricted Payments permitted by
Section 4.04(b)), is less than the amount equal to the Cumulative
Credit.

     

    (b) The
provisions of Section 4.04(a) shall not prohibit:

     

    (i) the
payment of any dividend or distribution within 60 days after the date of
declaration thereof, if at the date of declaration such payment would have
complied with the provisions of this Indenture;

     

    (ii) (A) the
repurchase, retirement or other acquisition of any Equity Interests (“Retired
Capital Stock”) of the Issuer or any direct or indirect parent of the Issuer or
Subordinated Indebtedness of the Issuer, any direct or indirect parent of the
Issuer or any Note Guarantor in exchange for, or out of the proceeds of, the
substantially concurrent sale of, Equity Interests of the Issuer or any direct
or indirect parent of the Issuer or contributions to the equity capital of the
Issuer (other than any Disqualified Stock or any Equity Interests sold to a
Subsidiary of the Issuer or to an employee stock ownership plan or any trust
established by the Issuer or any of its Subsidiaries) (collectively, including
any such contributions, “Refunding Capital Stock”); and

     

    (B)           the
declaration and payment of accrued dividends on the Retired Capital Stock out of
the proceeds of the substantially concurrent sale (other than to a Subsidiary of
the Issuer or to an employee stock ownership plan or any trust established by
the Issuer or any of its Subsidiaries) of Refunding Capital Stock;

     

    (iii) the
redemption, repurchase or other acquisition or retirement of Subordinated
Indebtedness of the Issuer or any Note Guarantor made by exchange for, or out of
the proceeds of the substantially concurrent sale of, new Indebtedness of the
Issuer or a Note Guarantor which is Incurred in accordance with Section 4.03 so
long as

     

    (A) the
principal amount of such new Indebtedness does not exceed the principal amount
of the Subordinated Indebtedness being so redeemed, repurchased, acquired or
retired for value (plus the amount of any premium required to be paid under the
terms of the instrument governing the Subordinated Indebtedness being so
redeemed, repurchased, acquired or retired plus any fees incurred in connection
therewith),

     

    
      
        
          

          
            	
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    (B) such
Indebtedness is subordinated to the Securities or the related Guarantee, as the
case may be, at least to the same extent as such Subordinated Indebtedness so
purchased, exchanged, redeemed, repurchased, acquired or retired for
value,

     

    (C) such
Indebtedness has a final scheduled maturity date equal to or later than the
earlier of (x) the final scheduled maturity date of the Subordinated
Indebtedness being so redeemed, repurchased, acquired or retired or (y) 91 days
following the maturity date of the Securities, and

     

    (D) such
Indebtedness has a Weighted Average Life to Maturity at the time Incurred which
is not less than the remaining Weighted Average Life to Maturity of the
Subordinated Indebtedness being so redeemed, repurchased, acquired or
retired;

     

    (iv) the
repurchase, retirement or other acquisition (or dividends to any direct or
indirect parent of the Issuer to finance any such repurchase, retirement or
other acquisition) for value of Equity Interests of the Issuer or any direct or
indirect parent of the Issuer held by any future, present or former employee,
director or consultant of the Issuer or any direct or indirect parent of the
Issuer or any Subsidiary of the Issuer pursuant to any management equity plan or
stock option plan or any other management or employee benefit plan or other
agreement or arrangement; provided, however, that the aggregate
amounts paid under this clause (iv) do not exceed $15.0 million in any calendar
year (with unused amounts in any calendar year being permitted to be carried
over for the two succeeding calendar years); provided, further, however, that such amount in
any calendar year may be increased by an amount not to exceed:

     

    (A) the cash
proceeds received by the Issuer or any of its Restricted Subsidiaries from the
sale of Equity Interests (other than Disqualified Stock) of the Issuer or any
direct or indirect parent of the Issuer (to the extent contributed to the
Issuer) to members of management, directors or consultants of the Issuer and its
Restricted Subsidiaries or any direct or indirect parent of the Issuer that
occurs after the Issue Date (provided that the amount of
such cash proceeds utilized for any such repurchase, retirement, other
acquisition or dividend shall not increase the amount available for Restricted
Payments under Section 4.04(a)(3)); plus

     

    (B) the cash
proceeds of key man life insurance policies received by the Issuer or any direct
or indirect parent of the Issuer (to the extent contributed to the Issuer) or
the Issuer’s Restricted Subsidiaries after the Issue Date;

     

    provided that the Issuer may
elect to apply all or any portion of the aggregate increase contemplated by
clauses (A) and (B) above in any calendar year;

     

    (v) the
declaration and payment of dividends or distributions to holders of any class or
series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries
issued or incurred in accordance with Section 4.03;

     

    (vi) the
declaration and payment of dividends or distributions (a) to holders of any
class or series of Designated Preferred Stock (other than Disqualified Stock)
issued after the Issue Date and (b) to any direct or indirect parent of the
Issuer, the proceeds of which will be used to fund the payment of dividends to
holders of any class or series of Designated Preferred Stock (other than
Disqualified Stock) of any direct or indirect parent of the Issuer issued after
the Issue Date; provided, however, that, (A) for the
most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date of issuance of such
Designated Preferred Stock, after giving effect to such issuance (and the
payment of dividends or distributions) on a pro forma basis, the Issuer would
have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and (B) the
aggregate amount of dividends declared and paid pursuant to this clause (vi)
does not exceed the net cash proceeds actually received by the Issuer from any
such sale of Designated Preferred Stock (other than Disqualified Stock) issued
after the Issue Date;

     

    
      
        
          

          
            	
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    (vii) Investments
in Unrestricted Subsidiaries having an aggregate Fair Market Value, taken
together with all other Investments made pursuant to this clause (vii) that are
at that time outstanding, not to exceed the greater of $25.0 million and 1.0% of
Total Assets at the time of such Investment (with the Fair Market Value of each
Investment being measured at the time made and without giving effect to
subsequent changes in value);

     

    (viii) the
payment of dividends on the Issuer’s common stock (or the payment of dividends
to any direct or indirect parent of the Issuer to fund the payment by such
direct or indirect parent of the Issuer of dividends on such entity’s common
stock) of up to 6% per annum of the net proceeds received by the Issuer from any
public offering of common stock of the Issuer or any direct or indirect parent
of the Issuer;

     

    (ix) Investments
that are made with Excluded Contributions;

     

    (x) other
Restricted Payments in an aggregate amount not to exceed the greater of $50.0
million and 2.0% of Total Assets at the time made;

     

    (xi) the
distribution, as a dividend or otherwise, of shares of Capital Stock of, or
Indebtedness owed to the Issuer or a Restricted Subsidiary of the Issuer by,
Unrestricted Subsidiaries;

     

    (xii) the
payment of dividends or other distributions to any direct or indirect parent of
the Issuer in amounts required for such parent to pay federal, state or local
income taxes (as the case may be) imposed directly on such parent to the extent
such income taxes are attributable to the income of the Issuer and its
Restricted Subsidiaries (including, without limitation, by virtue of such parent
being the common parent of a consolidated or combined tax group of which the
Issuer and/or its Restricted Subsidiaries are members);

     

    (xiii) the
payment of dividends, other distributions or other amounts or the making of
loans or advances by the Issuer, if applicable:

     

    (A) in
amounts required for any direct or indirect parent of the Issuer, if applicable,
to pay fees and expenses (including franchise or similar taxes) required to
maintain its corporate existence, customary salary, bonus and other benefits
payable to, and indemnities provided on behalf of, officers and employees of any
direct or indirect parent of the Issuer, if applicable, and general corporate
overhead expenses of any direct or indirect parent of the Issuer, if applicable,
in each case to the extent such fees and expenses are attributable to the
ownership or operation of the Issuer, if applicable, and its
Subsidiaries;

     

    (B) in
amounts required for any direct or indirect parent of the Issuer, if applicable,
to pay interest and/or principal on Indebtedness the proceeds of which have been
contributed to the Issuer or any of its Restricted Subsidiaries and that has
been guaranteed by, or is otherwise considered Indebtedness of, the Issuer
Incurred in accordance with Section 4.03; and

     

    (C) in
amounts required for any direct or indirect parent of the Issuer to pay fees and
expenses, other than to Affiliates of the Issuer, related to any unsuccessful
equity or debt offering of such parent.

     

    (xiv) cash
dividends or other distributions on the Issuer’s Capital Stock used to, or the
making of loans to any direct or indirect parent of the Issuer to, fund the
Transactions and the payment of fees and expenses incurred in connection with
the Transactions or owed by the Issuer or any direct or indirect parent of the
Issuer, as the case may be, or Restricted Subsidiaries of the Issuer to
Affiliates, in each case to the extent permitted by Section 4.07;

     

    (xv) repurchases
of Equity Interests deemed to occur upon exercise of stock options or warrants
if such Equity Interests represent a portion of the exercise price of such
options or warrants;

     

    
      
        
          

          
            	
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    (xvi) purchases
of receivables pursuant to a Receivables Repurchase Obligation in connection
with a Qualified Receivables Financing and the payment or distribution of
Receivables Fees;

     

    (xvii) payments
of cash, or dividends, distributions or advances by the Issuer or any Restricted
Subsidiary to allow the payment of cash in lieu of the issuance of fractional
shares upon the exercise of options or warrants or upon the conversion or
exchange of Capital Stock of any such Person;

     

    (xviii) the
repurchase, redemption or other acquisition or retirement for value of any
Subordinated Indebtedness pursuant to the provisions similar to those described
under Sections 4.06 and 4.08; provided that all Securities
tendered by Holders in connection with a Change of Control Offer or Asset Sale
Offer, as applicable, have been repurchased, redeemed or acquired for value;
and

     

    (xix) any
payments made, including any such payments made to any direct or indirect parent
of the Issuer to enable it to make payments, in connection with the consummation
of the Transactions or as contemplated by the Acquisition Documents (other than
payments to any Permitted Holder or any Affiliate thereof);

     

    provided, however, that at the time of,
and after giving effect to, any Restricted Payment permitted under clauses (vi),
(vii), (x) and (xi) of this Section 4.04(b), no Default shall have occurred and
be continuing or would occur as a consequence thereof.

     

    (c) As of the
Issue Date, all of the Issuer’s Subsidiaries shall be Restricted
Subsidiaries.  The Issuer shall not permit any Unrestricted Subsidiary
to become a Restricted Subsidiary except pursuant to the definition of
“Unrestricted Subsidiary.”  For purposes of designating any Restricted
Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the
Issuer and its Restricted Subsidiaries (except to the extent repaid) in the
Subsidiary so designated shall be deemed to be Restricted Payments in an amount
determined as set forth in the last sentence of the definition of
“Investments.”  Such designation shall only be permitted if a
Restricted Payment in such amount would be permitted at such time and if such
Subsidiary otherwise meets the definition of an Unrestricted
Subsidiary.

     

    SECTION
4.05. Dividend and Other Payment
Restrictions Affecting Subsidiaries.  The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, create or otherwise cause or suffer to exist or become
effective any consensual encumbrance or consensual restriction on the ability of
any Restricted Subsidiary to:

     

    (a) (i) pay
dividends or make any other distributions to the Issuer or any of its Restricted
Subsidiaries (1) on its Capital Stock; or (2) with respect to any other interest
or participation in, or measured by, its profits; or (ii) pay any Indebtedness
owed to the Issuer or any of its Restricted Subsidiaries;

     

    (b) make
loans or advances to the Issuer or any of its Restricted Subsidiaries;
or

     

    (c) sell,
lease or transfer any of its properties or assets to the Issuer or any of its
Restricted Subsidiaries;

     

    except in
each case for such encumbrances or restrictions existing under or by reason
of:

     

    (1)           contractual
encumbrances or restrictions in effect on the Issue Date, including pursuant to
the Credit Agreements and the other Credit Agreement Documents;

     

    (2)           this
Indenture, the Securities (and any Exchange Securities and guarantees thereof),
the Security Documents and the Intercreditor Agreements;

     

    (3)           applicable
law or any applicable rule, regulation or order;

     

    
      
        
          

          
            	
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    (4)           any
agreement or other instrument relating to Indebtedness of a Person acquired by
the Issuer or any Restricted Subsidiary which was in existence at the time of
such acquisition (but not created in contemplation thereof or to provide all or
any portion of the funds or credit support utilized to consummate such
acquisition), which encumbrance or restriction is not applicable to any Person,
or the properties or assets of any Person, other than the Person, or the
property or assets of the Person, so acquired;

     

    (5)           contracts
or agreements for the sale of assets, including any restriction with respect to
a Restricted Subsidiary imposed pursuant to an agreement entered into for the
sale or disposition of the Capital Stock or assets of such Restricted Subsidiary
pending the closing of such sale or disposition;

     

    (6)           Secured
Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and
4.12 that limit the right of the debtor to dispose of the assets securing such
Indebtedness;

     

    (7)           restrictions
on cash or other deposits or net worth imposed by customers under contracts
entered into in the ordinary course of business;

     

    (8)           customary
provisions in joint venture agreements and other similar agreements entered into
in the ordinary course of business;

     

    (9)           purchase
money obligations for property acquired in the ordinary course of business that
impose restrictions of the nature discussed in Section 4.05(c) above on the
property so acquired;

     

    (10)           customary
provisions contained in leases, licenses and other similar agreements entered
into in the ordinary course of business that impose restrictions of the type
described in clause (c) above on the property subject to such
lease;

     

    (11)           any
encumbrance or restriction of a Receivables Subsidiary effected in connection
with a Qualified Receivables Financing; provided, however, that such
restrictions apply only to such Receivables Subsidiary;

     

    (12)           other
Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary
of the Issuer (i) that is a Note Guarantor that is Incurred subsequent to the
Issue Date pursuant to Section 4.03 or (ii) that is Incurred by a Foreign
Subsidiary of the Issuer subsequent to the Issue Date pursuant to clause (iv),
(xii) or (xx) of Section 4.03(b);

     

    (13)           any
Restricted Investment not prohibited by Section 4.04 and any Permitted
Investment; or

     

    (14)           any
encumbrances or restrictions of the type referred to in clauses (a), (b) and (c)
above imposed by any amendments, modifications, restatements, renewals,
increases, supplements, refundings, replacements or refinancings of the
contracts, instruments or obligations referred to in clauses (1) through (13)
above; provided that
such amendments, modifications, restatements, renewals, increases, supplements,
refundings, replacements or refinancings are, in the good faith judgment of the
Issuer, no more restrictive with respect to such dividend and other payment
restrictions than those contained in the dividend or other payment restrictions
prior to such amendment, modification, restatement, renewal, increase,
supplement, refunding, replacement or refinancing.

     

    For
purposes of determining compliance with this Section 4.05, (i) the priority of
any Preferred Stock in receiving dividends or liquidating distributions prior to
dividends or liquidating distributions being paid on common stock shall not be
deemed a restriction on the ability to make distributions on Capital Stock and
(ii) the subordination of loans or advances made to the Issuer or a Restricted
Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any
such Restricted Subsidiary shall not be deemed a restriction on the ability to
make loans or advances.

     

    
      
        
          

          
            	
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    Asset
Sales.

     

    (d) The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
cause or make an Asset Sale, unless (x) the Issuer or any of its Restricted
Subsidiaries, as the case may be, receives consideration at the time of such
Asset Sale at least equal to the Fair Market Value (as determined in good faith
by the Issuer) of the assets sold or otherwise disposed of, and (y) at least 75%
of the consideration therefor received by the Issuer or such Restricted
Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount
of:

     

    (i) any
liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s most
recent balance sheet or in the notes thereto) of the Issuer or any Restricted
Subsidiary of the Issuer (other than liabilities that are by their terms
subordinated to the Securities or any Guarantee) that are assumed by the
transferee of any such assets,

     

    (ii) any notes
or other obligations or other securities or assets received by the Issuer or
such Restricted Subsidiary of the Issuer from such transferee that are converted
by the Issuer or such Restricted Subsidiary of the Issuer into cash within 180
days of the receipt thereof (to the extent of the cash received),
and

     

    (iii) any
Designated Non-cash Consideration received by the Issuer or any of its
Restricted Subsidiaries in such Asset Sale having an aggregate Fair Market
Value, taken together with all other Designated Non-cash Consideration received
pursuant to this clause (iii) that is at that time outstanding, not to exceed
the greater of 2.0% of Total Assets and $50.0 million at the time of the receipt
of such Designated Non-cash Consideration (with the Fair Market Value of each
item of Designated Non-cash Consideration being measured at the time received
and without giving effect to subsequent changes in value)

     

    shall be
deemed to be Cash Equivalents for the purposes of this Section
4.06(a).

     

    (e) Within
365 days after the Issuer’s or any Restricted Subsidiary of the Issuer’s receipt
of the Net Proceeds of any Asset Sale, the Issuer or such Restricted Subsidiary
of the Issuer may apply the Net Proceeds from such Asset Sale, at its
option:

     

    (i) to repay
(A) Indebtedness constituting First Priority Lien Obligations (and, if the
Indebtedness repaid is revolving credit Indebtedness, to correspondingly reduce
commitments with respect thereto) (provided that (x) to the
extent that the terms of First Priority Lien Obligations other than the Note
Obligations require that such First Priority Lien Obligations are repaid with
the Net Proceeds of Asset Sales prior to repayment of other Indebtedness, the
Issuer and its Restricted Subsidiaries shall be entitled to repay such other
First Priority Lien Obligations prior to repaying the Obligations under the
Securities and (y) subject to the foregoing clause (x), if the Issuer or
any Note Guarantor shall so reduce First Priority Lien Obligations, the Issuer
shall equally and ratably reduce Obligations under the Securities through
open-market purchases (provided that such purchases
are at or above 100% of the principal amount thereof) or by making an offer (in
accordance with the procedures set forth below for an Asset Sale Offer) to all
Holders to purchase at a purchase price equal to 100% of the principal amount
thereof, plus accrued and unpaid interest and Additional Interest, if any, the
pro rata principal amount of Securities), (B) Indebtedness of a Foreign
Subsidiary or (C) Indebtedness of a Restricted Subsidiary that is not a Note
Guarantor, in each case other than Indebtedness owed to the Issuer or an
Affiliate of the Issuer,

     

    (ii) to make
an investment in any one or more businesses (provided that if such
investment is in the form of the acquisition of Capital Stock of a Person, such
acquisition results in such Person becoming a Restricted Subsidiary of the
Issuer), assets, or property or capital expenditures, in each case used or
useful in a Similar Business, or

     

    (iii) to make
an investment in any one or more businesses (provided that if such
investment is in the form of the acquisition of Capital Stock of a Person, such
acquisition results in such Person beco

     

    
      
        
          

          
            	
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    (iv) ing a
Restricted Subsidiary of the Issuer), properties or assets that replace the
properties and assets that are the subject of such Asset Sale.

     

    In the
case of Sections 4.06(b)(ii) and (iii), a binding commitment shall be treated as
a permitted application of the Net Proceeds from the date of such commitment;
provided that in the
event such binding commitment is later canceled or terminated for any reason
before such Net Proceeds are so applied, the Issuer or such Restricted
Subsidiary enters into another binding commitment within nine months of such
cancellation or termination of the prior binding commitment; provided, further that the Issuer or
such Restricted Subsidiary may only enter into such a second commitment under
the foregoing provision one time with respect to each Asset Sale.

     

    Pending
the final application of any such Net Proceeds, the Issuer or such Restricted
Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving
credit facility, if any, or otherwise invest such Net Proceeds in Cash
Equivalents or Investment Grade Securities.  Any Net Proceeds from any
Asset Sale that are not applied as provided and within the time period set forth
in the first sentence of this Section 4.06(b) (it being understood that any
portion of such Net Proceeds used to make an offer to purchase Securities, as
described in clause (i) of this Section 4.06(b), shall be deemed to have been
invested whether or not such offer is accepted) shall be deemed to constitute
“Excess Proceeds.” When the aggregate
amount of Excess Proceeds exceeds $15.0 million, the Issuer shall make an offer
to all Holders (and, at the option of the Issuer, to holders of any First
Priority Lien Obligations) (an “Asset Sale Offer”) to purchase the maximum
principal amount of Securities (and such First Priority Lien Obligations), that
is at least $2,000 and an integral multiple of $1,000 that may be purchased out
of the Excess Proceeds at an offer price in cash in an amount equal to 100% of
the principal amount thereof (or, in the event such First Priority Lien
Obligations were issued with significant original issue discount, 100% of the
accreted value thereof), plus accrued and unpaid interest and Additional
Interest, if any (or, in respect of such First Priority Lien Obligations, such
lesser price, if any, as may be provided for by the terms of such First Priority
Lien Obligations), to the date fixed for the closing of such offer, in
accordance with the procedures set forth in this Section 4.06.  The
Issuer shall commence an Asset Sale Offer with respect to Excess Proceeds within
10 Business Days after the date that Excess Proceeds exceeds $15.0 million by
mailing the notice required pursuant to the terms of Section 4.06(f), with a
copy to the Trustee.  To the extent that the aggregate amount of
Securities (and such First Priority Lien Obligations) tendered pursuant to an
Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any
remaining Excess Proceeds for general corporate purposes.  If the
aggregate principal amount of Securities (and such First Priority Lien
Obligations) surrendered by holders thereof exceeds the amount of Excess
Proceeds, the Trustee shall select the Securities to be purchased in the manner
described in Section 4.06(e).  Upon completion of any such Asset Sale
Offer, the amount of Excess Proceeds shall be reset at zero.

     

    (f) The
Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act
and any other securities laws and regulations to the extent such laws or
regulations are applicable in connection with the repurchase of the Securities
pursuant to an Asset Sale Offer.  To the extent that the provisions of
any securities laws or regulations conflict with the provisions of this
Indenture, the Issuer shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations described
in this Indenture by virtue thereof.

     

    (g) Not later
than the date upon which written notice of an Asset Sale Offer is delivered to
the Trustee as provided above, the Issuer shall deliver to the Trustee an
Officers’ Certificate as to (i) the amount of the Excess Proceeds, (ii) the
allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset
Sale Offer is being made and (iii) the compliance of such allocation with the
provisions of Section 4.06(b).  On such date, the Issuer shall also
irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer
or a Wholly Owned Restricted Subsidiary is acting as the Paying Agent, segregate
and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash
Equivalents, as directed in writing by the Issuer, and to be held for payment in
accordance with the provisions of this Section 4.06.  Upon the
expiration of the period for which the Asset Sale Offer remains open (the “Offer
Period”), the Issuer shall deliver to the Trustee for cancellation the
Securities or portions thereof that have been properly tendered to and are to be
accepted by the Issuer.  The Trustee (or the Paying Agent, if not the
Trustee) shall, on the date of purchase, mail or deliver payment to each
tendering Holder in the amount of the purchase price.  In the event
that the Excess Proceeds delivered by the Issuer to the Trustee are greater than
the purchase price of the Securities tendered, the Trustee shall deliver the
excess to the Issuer immediately after the expiration of the Offer Period for
application in accordance with Section 4.06.

     

    
      
        
          

          
            	
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    (h) Holders
electing to have a Security purchased shall be required to surrender the
Security, with an appropriate form duly completed, to the Company at the address
specified in the notice at least three Business Days prior to the purchase
date.  Holders shall be entitled to withdraw their election if the
Trustee or the Issuer receives not later than one Business Day prior to the
Purchase Date, a telegram, telex, facsimile transmission or letter sent to the
address indicated in Section 13.02 or specified in the notice described in
Section 4.06(f) setting forth the name of the Holder, the principal amount
of the Security which was delivered by the Holder for purchase and a statement
that such Holder is withdrawing his election to have such Security
purchased.  If at the end of the Offer Period more Securities (and
other First Priority Lien Obligations (as
described in Section 4.06(b)), as applicable) are tendered pursuant to an Asset
Sale Offer than the Issuer is required to purchase, selection of such Securities
for purchase shall be made by the Trustee in compliance with the requirements of
the principal national securities exchange, if any, on which such Securities are
listed, or if such Securities are not so listed, on a pro rata basis, by lot or
by such other method as the Trustee shall deem fair and appropriate (and in such
manner as complies with applicable legal requirements); provided that no Securities
of $2,000 or less shall be purchased in part.  Selection of such First
Priority Lien Obligations shall be made pursuant to the terms of such First
Priority Lien Obligations.

     

    (i) Notices
of an Asset Sale Offer shall be mailed by first class mail, postage prepaid, or
sent electronically, at least 30 but not more than 60 days before the purchase
date to each Holder of Securities at such Holder’s registered
address.  If any Security is to be purchased in part only, any notice
of purchase that relates to such Security shall state the portion of the
principal amount thereof that has been or is to be purchased.

     

    SECTION
4.06. Transactions with
Affiliates.

     

    (a) The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, make any payment to, or sell, lease, transfer or
otherwise dispose of any of its properties or assets to, or purchase any
property or assets from, or enter into or make or amend any transaction or
series of transactions, contract, agreement, understanding, loan, advance or
guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the
foregoing, an “Affiliate Transaction”) involving aggregate consideration in
excess of $10.0 million, unless:

     

    (i) such
Affiliate Transaction is on terms that are not materially less favorable to the
Issuer or the relevant Restricted Subsidiary than those that could have been
obtained in a comparable transaction by the Issuer or such Restricted Subsidiary
with an unrelated Person; and

     

    (ii) with
respect to any Affiliate Transaction or series of related Affiliate Transactions
involving aggregate consideration in excess of $25.0 million, the Issuer
delivers to the Trustee a resolution adopted in good faith by the majority of
the Board of Directors of the Issuer, approving such Affiliate Transaction and
set forth in an Officers’ Certificate certifying that such Affiliate Transaction
complies with clause (i) above.

     

    (b) The
provisions of Section 4.07(a) shall not apply to the following:

     

    (i) transactions
between or among the Issuer and/or any of its Restricted Subsidiaries and any
merger of the Issuer and any direct parent of the Issuer; provided that such parent
shall have no material liabilities and no material assets other than cash, Cash
Equivalents and the Capital Stock of the Issuer and such merger is otherwise in
compliance with the terms of this Indenture and effected for a bona fide
business purpose;

     

    (ii) Restricted
Payments permitted by Section 4.04 and Permitted Investments;

     

    (iii) (x) the
entering into of any agreement (and any amendment or modification of any such
agreement) to pay, and the payment of, annual management, consulting, monitoring
and advisory fees to the Sponsors in an aggregate amount in any fiscal year not
to exceed the greater of (A) $3.0 million and (B) 1.25% of EBITDA of the
Issuer and its Restricted Subsidiaries for the immediately preceding fiscal
year, and out-of-pocket expense reimbursement; provided, however, that any payment not
made in any fiscal year may be carried forward and paid in the following two
fiscal years and (y) the payment of the pr

     

    
      
        
          

          
            	
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    (iv) sent
value of all amounts payable pursuant to any agreement described in clause
(iii)(x) of this Section 4.07(b) in connection with the termination of such
agreement;

     

    (v) the
payment of reasonable and customary fees and reimbursement of expenses paid to,
and indemnity provided on behalf of, officers, directors, employees or
consultants of the Issuer or any Restricted Subsidiary or any direct or indirect
parent of the Issuer;

     

    (vi) payments
by the Issuer or any of its Restricted Subsidiaries to the Sponsors made for any
financial advisory, financing, underwriting or placement services or in respect
of other investment banking activities, including, without limitation, in
connection with acquisitions or divestitures, which payments are (x) made
pursuant to the agreements with the Sponsors described in the Offering
Memorandum or (y) approved by a majority of the Board of Directors of the Issuer
in good faith;

     

    (vii) transactions
in which the Issuer or any of its Restricted Subsidiaries, as the case may be,
delivers to the Trustee a letter from an Independent Financial Advisor stating
that such transaction is fair to the Issuer or such Restricted Subsidiary from a
financial point of view or meets the requirements of clause (i) of Section
4.07(a);

     

    (viii) payments
or loans (or cancellation of loans) to employees or consultants which are
approved by a majority of the Board of Directors of the Issuer in good
faith;

     

    (ix) any
agreement as in effect as of the Issue Date or any amendment thereto (so long as
any such agreement together with all amendments thereto, taken as a whole, is
not more disadvantageous to the Holders in any material respect than the
original agreement as in effect on the Issue Date) or any transaction
contemplated thereby as determined in good faith by senior management or the
Board of Directors of the Issuer;

     

    (x) the
existence of, or the performance by the Issuer or any of its Restricted
Subsidiaries of its obligations under the terms of, the Acquisition Documents,
any stockholders agreement (including any registration rights agreement or
purchase agreement related thereto) to which it is a party as of the Issue Date
and any transaction, agreement or arrangement described in the Offering
Memorandum and, in each case, any amendment thereto or similar transactions,
agreements or arrangements which it may enter into thereafter; provided, however, that the existence
of, or the performance by the Issuer or any of its Restricted Subsidiaries of
its obligations under, any future amendment to any such existing transaction,
agreement or arrangement or under any similar transaction, agreement or
arrangement entered into after the Issue Date shall only be permitted by this
clause (ix) to the extent that the terms of any such existing transaction,
agreement or arrangement together with all amendments thereto, taken as a whole,
or new transaction, agreement or arrangement are not otherwise more
disadvantageous to the Holders in any material respect than the original
transaction, agreement or arrangement as in effect on the Issue
Date;

     

    (xi) the
execution of the Transactions and the payment of all fees and expenses related
to the Transactions, including fees to the Sponsors that are described in the
Offering Memorandum or contemplated by the Acquisition Documents;

     

    (xii) (A)
transactions with customers, clients, suppliers or purchasers or sellers of
goods or services, or transactions otherwise relating to the purchase or sale of
goods or services, in each case in the ordinary course of business and otherwise
in compliance with the terms of this Indenture, which are fair to the Issuer and
its Restricted Subsidiaries in the reasonable determination of the Board of
Directors or the senior management of the Issuer, or are on terms at least as
favorable as might reasonably have been obtained at such time from an
unaffiliated party or (B) transactions with joint ventures or Unrestricted
Subsidiaries entered into in the ordinary course of business;

     

    (xiii) any
transaction effected as part of a Qualified Receivables Financing;

     

    
      
        
          

          
            	
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    (xiv) the
issuance of Equity Interests (other than Disqualified Stock) of the Issuer to
any Person;

     

    (xv) the
issuances of securities or other payments, awards or grants in cash, securities
or otherwise pursuant to, or the funding of, employment arrangements, stock
option and stock ownership plans or similar employee benefit plans approved by
the Board of Directors of the Issuer or any direct or indirect parent of the
Issuer or of a Restricted Subsidiary of the Issuer, as appropriate, in good
faith;

     

    (xvi) the
entering into of any tax sharing agreement or arrangement and any payments
permitted by Section 4.04(b)(xii);

     

    (xvii) any
contribution to the capital of the Issuer;

     

    (xviii) transactions
permitted by, and complying with, Section 5.01;

     

    (xix) transactions
between the Issuer or any of its Restricted Subsidiaries and any Person, a
director of which is also a director of the Issuer or any direct or indirect
parent of the Issuer; provided, however, that such director
abstains from voting as a director of the Issuer or such direct or indirect
parent, as the case may be, on any matter involving such other
Person;

     

    (xx) pledges
of Equity Interests of Unrestricted Subsidiaries;

     

    (xxi) any
employment agreements entered into by the Issuer or any of its Restricted
Subsidiaries in the ordinary course of business; and

     

    (xxii) intercompany
transactions undertaken in good faith (as certified by a responsible financial
or accounting officer of the Issuer in an Officers’ Certificate) for the purpose
of improving the consolidated tax efficiency of the Issuer and its Subsidiaries
and not for the purpose of circumventing any covenant set forth in this
Indenture.

     

    SECTION
4.07. Change of
Control.

     

    (a) Upon a
Change of Control, each Holder shall have the right to require the Issuer to
repurchase all or any part of such Holder’s Securities at a purchase price in
cash equal to 101% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the date of repurchase (subject to the right of the Holders
of record on the relevant record date to receive interest due on the relevant
interest payment date), in accordance with the terms contemplated in this
Section 4.08; provided,
however, that
notwithstanding the occurrence of a Change of Control, the Issuer shall not be
obligated to purchase any Securities pursuant to this Section 4.08 in the event
that it has exercised its right to redeem such Securities in accordance with
Article 3 of this Indenture.  In the event that at the time of
such Change of Control the terms of any Bank Indebtedness restrict or prohibit
the repurchase of Securities pursuant to this Section 4.08, then prior to the
mailing or sending electronically of the notice to the Holders provided for in
Section 4.08(b) but in any event within 30 days following any Change of Control,
the Issuer shall (i) repay in full all such Bank Indebtedness or, if doing so
will allow the purchase of Securities, offer to repay in full all such Bank
Indebtedness and repay all Bank Indebtedness of each lender who has accepted
such offer, or (ii) obtain the requisite consent under the agreements governing
such Bank Indebtedness to permit the repurchase of the Securities as provided
for in Section 4.08(b).

     

    (b) Within 30
days following any Change of Control, except to the extent that the Issuer has
exercised its right to redeem the Securities in accordance with Article 3
of this Indenture, the Issuer shall mail or send electronically a notice (a
“Change of Control Offer”) to each Holder with a copy to the Trustee
stating:

     

    (i) that a
Change of Control has occurred and that such Holder has the right to require the
Issuer to repurchase such Holder’s Securities at a repurchase price in cash
equal to 101% of the principal amount thereof, plus accrued and unpaid interest
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    (ii) (subject
to the right of the Holders of record on a record date to receive interest on
the relevant interest payment date);

     

    (iii) the
circumstances and relevant facts and financial information regarding such Change
of Control;

     

    (iv) the
repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is sent); and

     

    (v) the
instructions determined by the Issuer, consistent with this Section 4.08, that a
Holder must follow in order to have its Securities purchased.

     

    (c) Holders
electing to have a Security purchased shall be required to surrender the
Security, with an appropriate form duly completed, to the Issuer at the address
specified in the notice at least three Business Days prior to the purchase
date.  The Holders shall be entitled to withdraw their election if the
Trustee or the Issuer receives not later than one Business Day prior to the
purchase date a telegram, telex, facsimile transmission or letter sent to the
address specified in Section 13.02 or set forth in the notice described in
Section 4.08(b) setting forth the name of the Holder, the principal amount
of the Security which was delivered for purchase by the Holder and a statement
that such Holder is withdrawing his election to have such Security
purchased.  Holders whose Securities are purchased only in part shall
be issued new Securities equal in principal amount to the unpurchased portion of
the Securities surrendered.

     

    (d) On the
purchase date, all Securities purchased by the Issuer under this Section shall
be delivered to the Trustee for cancellation, and the Issuer shall pay the
purchase price plus accrued and unpaid interest to the Holders entitled
thereto.

     

    (e) A Change
of Control Offer may be made in advance of a Change of Control, and conditioned
upon such Change of Control, if a definitive agreement is in place for the
Change of Control at the time of making of the Change of Control
Offer.

     

    (f) Notwithstanding
the other provisions of this Section 4.08, the Issuer shall not be required
to make a Change of Control Offer upon a Change of Control if a third party
makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in Section 4.08 applicable to a
Change of Control Offer made by the Issuer and purchases all Securities validly
tendered and not withdrawn under such Change of Control Offer.

     

    (g) Securities
repurchased by the Issuer pursuant to a Change of Control Offer will have the
status of Securities issued but not outstanding or will be retired and canceled
at the option of the Issuer.  Securities purchased by a third party
pursuant to the preceding clause (f) will have the status of Securities issued
and outstanding.

     

    (h) At the
time the Issuer delivers Securities to the Trustee which are to be accepted for
purchase, the Issuer shall also deliver an Officers’ Certificate stating that
such Securities are to be accepted by the Issuer pursuant to and in accordance
with the terms of this Section 4.08.  A Security shall be deemed to
have been accepted for purchase at the time the Trustee, directly or through an
agent, mails or delivers payment therefor to the surrendering
Holder.

     

    (i) Prior to
any Change of Control Offer, the Issuer shall deliver to the Trustee an
Officers’ Certificate stating that all conditions precedent contained herein to
the right of the Issuer to make such offer have been complied with.

     

    (j) The
Issuer shall comply, to the extent applicable, with the requirements of Section
14(e) of the Exchange Act and any other securities laws or regulations in
connection with the repurchase of Securities pursuant to this Section
4.08.  To the extent that the provisions of any securities laws or
regulations conflict with

     

    
      
        
          

          
            	
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    (k) provisions
of this Section 4.08, the Issuer shall comply with the applicable securities
laws and regulations and shall not be deemed to have breached its obligations
under this Section 4.08 by virtue thereof.

     

    SECTION
4.08. Compliance
Certificate.  The
Issuer shall deliver to the Trustee within 120 days after the end of each fiscal
year of the Issuer, beginning with the fiscal year ending on September 30,
2008, an Officers’ Certificate stating that in the course of the performance by
the signers of their duties as Officers of the Issuer they would normally have
knowledge of any Default and whether or not the signers know of any Default that
occurred during such period.  If they do, the certificate shall
describe the Default, its status and what action the Issuer is taking or
proposes to take with respect thereto.  The Issuer also shall comply
with Section 314(a)(4) of the TIA.

     

    SECTION
4.09. Further Instruments and
Acts.  Upon
request of the Trustee, the Issuer shall execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to
carry out more effectively the purpose of this Indenture.

     

    SECTION
4.10. Future Note
Guarantors. If any
additional direct or indirect Subsidiary of the Issuer is formed or acquired
after the Issue Date (with any designation of an Unrestricted Subsidiary as a
Restricted Subsidiary being deemed to constitute the acquisition of a
Subsidiary) and if such Subsidiary is a Domestic Subsidiary, the Issuer will
promptly notify the Trustee thereof and use commercially reasonable efforts to,
as soon as practicable, cause such Subsidiary to execute a supplement to each of
this Indenture, the applicable Security Documents and the Intercreditor
Agreements, in the form specified therein, duly executed and delivered on behalf
of such Subsidiary, subject to the next sentence.  Notwithstanding the
foregoing, to the extent any Term Loan Obligations have the benefit of a
guarantee from any Subsidiary of the Issuer, the Issuer shall cause such
Subsidiary to guarantee the Note Obligations substantially concurrently with
guaranteeing such Term Loan Obligations.

     

    SECTION
4.11. Liens.  The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, create, Incur or suffer to exist any Lien other than
Permitted Liens on any asset or property of the Issuer or such Restricted
Subsidiary securing Indebtedness unless such Lien securing such Indebtedness of
the Issuer or such Restricted Subsidiary is junior to the Liens securing the
Note Obligations upon the assets or property constituting the collateral for
such Indebtedness, except as set forth in Section 11.04(d), on terms no
less favorable in any material respect to the Holders than the terms set forth
in the Second Priority Intercreditor Agreement.  In the case of any
Permitted Lien that secures First Priority Lien Obligations, the Securities
shall be equally and ratably secured with (or on a senior basis to, in the case
of obligations subordinated in right of payment to the Securities) the
obligations so secured on terms no less favorable in any material respect to the
Holders than the terms set forth in the Senior Lender Intercreditor Agreement;
provided that First
Priority Lien Obligations that are Obligations in respect of a Revolving Credit
Agreement may be secured on a senior basis with respect to any Revolving
Facility Senior Collateral to Liens securing the Note Obligations with respect
to such collateral, on terms no less favorable in any material respect to the
Holders than the terms set forth in the Senior Lender Intercreditor
Agreement.

     

    SECTION
4.12. Maintenance of Office or
Agency.

     

    (a) The
Issuer shall maintain an office or agency (which may be an office of the Trustee
or an affiliate of the Trustee or Registrar) where Securities may be surrendered
for registration of transfer or for exchange and where notices and demands to or
upon the Issuer in respect of the Securities and this Indenture may be
served.  The Issuer shall give prompt written notice to the Trustee of
the location, and any change in the location, of such office or
agency.  If at any time the Issuer shall fail to maintain any such
required office or agency or shall fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or
served at the corporate trust office of the Trustee as set forth in Section
13.02.

     

    (b) The
Issuer may also from time to time designate one or more other offices or
agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Issuer of its
obligation to maintain an office or agency for such purposes.  The
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    (c) tice to
the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

     

    (d) The
Issuer hereby designates the corporate trust office of the Trustee or its Agent
as such office or agency of the Issuer in accordance with Section
2.04.

     

    SECTION
4.13. Amendment of Security
Documents.  The
Issuer shall not amend, modify or supplement, or permit or consent to any
amendment, modification or supplement of, the Security Documents in any way that
would be adverse to the Holders in any material respect, except as contemplated
by the Intercreditor Agreements or as permitted under
Article 9.

     

    SECTION
4.14. After-Acquired
Property.

     

    (a) If any
asset (other than Real Property covered by paragraph (b) below or improvements
thereto or any interest therein) that has an individual fair market value in an
amount greater than $5.0 million is acquired by the Issuer or any Note Guarantor
after the Issue Date or owned by an entity at the time it becomes a Note
Guarantor (in each case other than (x) assets constituting Collateral under a
Security Document that become subject to the Lien of such Security Document upon
acquisition thereof and (y) assets that are not
required to become subject to Liens in favor of the Collateral Agent pursuant to Section 4.15(c) or the Security Documents), the Issuer or the
applicable Note Guarantor shall (i) deliver to the Notes Collateral Agent an
Officers’ Certificate notifying the Notes Collateral Agent thereof and (ii)
cause such asset to be subjected to a Lien securing the Note Obligations and
take, and cause the Note Guarantors to take, such actions as shall be necessary
to grant and perfect such Liens, all at the expense of the Issuer and the Note
Guarantors.

     

    (b) The
Issuer or the applicable Note Guarantor shall promptly deliver an Officers’
Certificate to the Notes Collateral Agent notifying the Notes Collateral Agent
of the acquisition of and grant and cause each of the Note Guarantors to grant
to the Notes Collateral Agent security interests and mortgages in such Real
Property of the Issuer or any such Note Guarantor as are not covered by the
Mortgages to be delivered pursuant to Section 5.01 of the Collateral Agreement,
to the extent acquired after the Issue Date and having an individual fair market
value at the time of acquisition in excess of $5.0 million pursuant to
documentation substantially in the form of the Mortgages delivered to the Notes
Collateral Agent after the Issue Date pursuant to the provisions described in
Section 5.01 of the Collateral Agreement
(each, an “Additional Mortgage”) and constituting valid and enforceable Liens
subject to no other Liens other than Liens not prohibited by Section 4.12 at the
time of perfection thereof, record or file, and cause each such Note Guarantor
to record or file, the Additional Mortgage or instruments related thereto in
such manner and in such places as is required by law to establish, perfect,
preserve and protect the Liens in favor of the Notes Collateral Agent required
to be granted pursuant to the Additional Mortgages and pay, and cause each such
Note Guarantor to pay, in full, all taxes, fees and other charges payable in
connection therewith, in each case subject to Section 4.15(c).  With respect to each such
Additional Mortgage, if the Issuer delivers to the Term Loan Facility
Administrative Agent a title insurance policy, a survey, or other documents in
connection with a mortgage on the applicable property, then it shall deliver to
the Notes Collateral Agent contemporaneously with such Additional Mortgage a
title insurance policy, a survey and such additional documents.

     

    (c) The
provisions of Section 4.15(a) and (b) need not be satisfied with respect to (i) any
Real Property held by the Issuer or any of its Subsidiaries as a lessee under a
lease, (ii) any vehicle, (iii) cash, deposit accounts and securities accounts,
(iv) any Equity Interests acquired after the Issue Date (other than in the case
of any person which is a Subsidiary of the Issuer, Equity Interests in such
person issued or acquired after such person became a Subsidiary of the Issuer)
in accordance with this Indenture if, and to the extent that, and for so long as
(A) such Equity Interests constitute less than 100% of all applicable Equity
Interests of such person and the person holding the remainder of such Equity
Interests are not Affiliates, (B) doing so would violate applicable law or a
contractual obligation binding on such Equity Interests and (C) with respect to
such contractual obligations, such obligation existed at the time of the
acquisition thereof and was not created or made binding on such Equity Interests
in contemplation of or in connection with the acquisition of such Subsidiary,
(v) any assets acquired after the Issue
Date, to the extent that, and for so long as, taking such actions would violate
an enforceable contractual obligation binding on such assets that existed at the
time of the acquisition thereof and was not created or made binding on such
assets in contemplation or in connection with the acquisition of such assets
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    (d) quired
with Indebtedness permitted pursuant to Section 4.03(b)(iv) that is secured by a Permitted Lien) or
(vi) those assets as to which the Issuer
shall reasonably determine, as set forth in an Officers’ Certificate delivered
to the Notes Collateral Agent, that the costs of obtaining or perfecting such a
security interest are excessive in relation to the value of the security to be
afforded thereby; provided, that, upon the
reasonable request of the Notes Collateral Agent, the Issuer shall, and shall
cause any applicable Subsidiary to, use commercially reasonable efforts to have
waived or eliminated any contractual obligation of the types described in clause
(iv)
and (v) above.  No control agreement shall be required with respect to
deposit accounts and securities accounts.  Notwithstanding the
foregoing, and subject to Section 11.04(d) hereof, to the extent any Term Loan
Obligations are secured by any assets of any Note Guarantor or the Issuer, the
Issuer shall cause such asset to be subject to the Lien securing the
Securities.

     

    

    SECTION
4.15. Termination and Suspension
of Certain Covenants.

     

    (a) If, on
any date following the Issue Date, (i) the Securities have Investment Grade
Ratings from both Rating Agencies, and the Issuer has delivered notice of such
Investment Grade Ratings to the Trustee, and (ii) no Default has occurred
and is continuing under this Indenture, then beginning on that day and
continuing at all times thereafter regardless of any subsequent changes in the
ratings of the Securities, the Issuer and its Restricted Subsidiaries shall no
longer be subject to Section 4.03 hereof, Section 4.04 hereof, Section 4.05
hereof, Section 4.06 hereof, Section 4.07 hereof, Section 4.11 hereof and clause
(iv) of Section 5.01 hereof.

     

    (b) During
any period of time when (i) the Securities have Investment Grade Ratings from
both Rating Agencies, and the Issuer has delivered notice of such Investment
Grade Ratings to the Trustee, and (ii) no Default has occurred and is
continuing under this Indenture (the occurrence of the events described in the
foregoing clauses (i) and (ii) being collectively referred to as a
“Covenant Suspension Event”), the Issuer and its Restricted Subsidiaries will
not be subject to Section 4.08 hereof (the “Suspended
Covenant”).

     

    (c) In the
event that the Issuer and its Restricted Subsidiaries are not subject to the
Suspended Covenant under this Indenture for any period of time as a result of
the foregoing, and on any subsequent date (the “Reversion Date”) one or both of
the Rating Agencies withdraw their Investment Grade Rating or downgrade the
rating assigned to the Securities below an Investment Grade Rating then the
Issuer and its Restricted Subsidiaries shall thereafter again be subject to the
Suspended Covenant under this Indenture.  The period of time between
the Covenant Suspension Event and the Reversion Date is referred to herein as
the “Suspension Period.”

     

    (d) In the
event that the Issuer and its Restricted Subsidiaries are not subject to the
Suspended Covenant and the Issuer or any of its Affiliates enters into an
agreement to effect a transaction that would result in a Change of Control and
one or more of the Rating Agencies indicate that if consummated, such
transaction (alone or together with any related recapitalization or refinancing
transactions) would cause such Rating Agency to withdraw its Investment Grade
Rating or downgrade the ratings assigned to the Securities below an Investment
Grade Rating, then the Issuer and its Restricted Subsidiaries shall thereafter
again be subject the Suspended Covenant with respect to future events,
including, without limitation, a proposed transaction described in this clause
(d).

     

    (e) The
Issuer shall deliver written notice to the
Trustee an Officer’s Certificate promptly upon
the occurrence of any Reversion
Date.

     

    ARTICLE
5

     

    SUCCESSOR
COMPANY

     

    SECTION
5.01. When Issuer May Merge or
Transfer Assets.

     

    (a) The
Issuer shall not, directly or indirectly, consolidate, amalgamate or merge with
or into or wind up or convert into (whether or not the Issuer is the surviving
Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its properties or assets in one or more related
transactions, to any Person unless:

     

    
      
        
          

          
            	
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    (b) the
Issuer is the surviving person or the Person formed by or surviving any such
consolidation, amalgamation, merger, winding up or conversion (if other than the
Issuer) or to which such sale, assignment, transfer, lease, conveyance or other
disposition shall have been made is a corporation, partnership or limited
liability company organized or existing under the laws of the United States, any
state thereof, the District of Columbia or any territory of the United States
(the Issuer or such Person, as the case may be, being herein called the
“Successor Company”); provided that in the case
where the surviving Person is not a corporation, a co-obligor of the Securities
is a corporation;

     

    (i) the
Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under this Indenture, the Securities and the Security
Documents pursuant to supplemental indentures or other documents or instruments
in form reasonably satisfactory to the Trustee;

     

    (ii) immediately
after giving effect to such transaction (and treating any Indebtedness which
becomes an obligation of the Successor Company or any of its Restricted
Subsidiaries as a result of such transaction as having been Incurred by the
Successor Company or such Restricted Subsidiary at the time of such transaction)
no Default or shall have occurred and be continuing;

     

    (iii) immediately
after giving pro forma effect to such transaction, as if such transaction had
occurred at the beginning of the applicable four-quarter period (and treating
any Indebtedness which becomes an obligation of the Successor Company or any of
its Restricted Subsidiaries as a result of such transaction as having been
Incurred by the Successor Company or such Restricted Subsidiary at the time of
such transaction), either

     

    (A) the
Successor Company would be permitted to Incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in
Section 4.03(a); or

     

    (B) the Fixed
Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries
would be greater than such ratio for the Issuer and its Restricted Subsidiaries
immediately prior to such transaction;

     

    (iv) each Note
Guarantor, unless it is the other party to the transactions described above,
shall have by supplemental indenture confirmed that its Guarantee shall apply to
such Person’s obligations under this Indenture and the Securities;
and

     

    (v) the
Issuer shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and
such supplemental indentures (if any) comply with this Indenture.

     

    The
Successor Company (if other than the Issuer) shall succeed to, and be
substituted for, the Issuer under this Indenture, the Securities and the
Security Documents, and in such event the Issuer will automatically be released
and discharged from its obligations under this Indenture, the Securities and the
Security Documents.  Notwithstanding the foregoing clauses (iii) and
(iv) of this Section 5.01(a), (A) any Restricted Subsidiary may merge,
consolidate or amalgamate with or transfer all or part of its properties and
assets to the Issuer or to another Restricted Subsidiary, and (B) the Issuer may
merge, consolidate or amalgamate with an Affiliate incorporated solely for the
purpose of reincorporating the Issuer in another state of the United States, the
District of Columbia or any territory of the United States or may convert into a
limited liability company, so long as the amount of Indebtedness of the Issuer
and its Restricted Subsidiaries is not increased thereby.  This
Article 5 will not apply to a sale, assignment, transfer, conveyance or
other disposition of assets between or among the Issuer and its Restricted
Subsidiaries.

     

    (c) Subject
to the provisions of Section 12.02(b) (which govern the release of a Guarantee
upon the sale or disposition of a Restricted Subsidiary of the Issuer that is a
Note Guarantor), no Note Guarantor shall, and the Issuer shall not permit any
Note Guarantor to, consolidate, amalgamate or merge with or into or wind up into
(whether or not such Note Guarantor is the surviving Person), or sell, assign,
transfer, lease, convey or otherwise dispose of all or substantially all of its
properties or assets in one or more related transactions to, any
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    (d) (other
than any such sale, assignment, transfer, lease, conveyance or disposition in
connection with the Transactions) unless:

     

    (i) either
(A) such Note Guarantor is the surviving Person or the Person formed by or
surviving any such consolidation, amalgamation or merger (if other than such
Note Guarantor) or to which such sale, assignment, transfer, lease, conveyance
or other disposition shall have been made is a corporation, partnership or
limited liability company organized or existing under the laws of the United
States, any state thereof, the District of Columbia or any territory of the
United States (such Note Guarantor or such Person, as the case may be, being
herein called the “Successor Note Guarantor”) and the Successor Note Guarantor
(if other than such Note Guarantor) expressly assumes all the obligations of
such Note Guarantor under this Indenture, such Note Guarantor’s Guarantee and
the Security Documents pursuant to a supplemental indenture or other documents
or instruments in form reasonably satisfactory to the Trustee and the Notes
Collateral Agent, or (B) such sale or disposition or consolidation,
amalgamation or merger is not in violation of Section 4.06; and

     

    (ii) the
Successor Note Guarantor (if other than such Note Guarantor) shall have
delivered or caused to be delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that such consolidation, amalgamation,
merger or transfer and such supplemental indenture (if any) comply with this
Indenture.

     

    Except as
otherwise provided in this Indenture, the Successor Note Guarantor (if other
than such Note Guarantor) will succeed to, and be substituted for, such Note
Guarantor under this Indenture, such Note Guarantor’s Guarantee and the Security
Documents, and such Note Guarantor will automatically be released and discharged
from its obligations under this Indenture, such Note Guarantor’s Guarantee and
the Security Documents. Notwithstanding the foregoing, (1) a Note Guarantor may
merge, amalgamate or consolidate with an Affiliate incorporated solely for the
purpose of reincorporating such Note Guarantor in another state of the United
States, the District of Columbia or any territory of the United States so long
as the amount of Indebtedness of the Note Guarantor is not increased thereby and
(2) a Note Guarantor may merge, amalgamate or consolidate with another Note
Guarantor or the Issuer.

     

    In
addition, notwithstanding the foregoing, any Note Guarantor may consolidate,
amalgamate or merge with or into or wind up into, or sell, assign, transfer,
lease, convey or otherwise dispose of all or substantially all of its properties
or assets (collectively, a “Transfer”) to (x) the Issuer or any Note Guarantor
or (y) any Restricted Subsidiary of the Issuer that is not a Note Guarantor;
provided that at the
time of each such Transfer pursuant to clause (y) the aggregate amount of all
such Transfers since the Issue Date shall not exceed 5.0% of the consolidated
assets of the Issuer and the Note Guarantors as shown on the most recent
available balance sheet of the Issuer and the Restricted Subsidiaries after
giving effect to each such Transfer and including all Transfers occurring from
and after the Issue Date.

     

    ARTICLE
6

     

    DEFAULTS
AND REMEDIES

     

    SECTION
6.01. Events of
Default.  An
“Event of Default” with respect to the Securities occurs if:

     

    (a) there is
a default in any payment of interest (including any additional interest) on any
Security when the same becomes due and payable, and such default continues for a
period of 30 days,

     

    (b) there is
a default in the payment of principal or premium, if any, of any Security when
due at its Stated Maturity, upon optional redemption, upon required repurchase,
upon declaration or otherwise,

     

    (c) the
Issuer or any of the Restricted Subsidiaries fails to comply with its
obligations under Section 5.01,

     

    
      
        
          

          
            	
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    (d) the
Issuer or any of the Restricted Subsidiaries fails to comply with any of its
agreements in the Securities or this Indenture (other than those referred to in
clause (a), (b) or (c) above) and such failure continues for 60 days after the
notice specified below,

     

    (e) the
Issuer or any Significant Subsidiary fails to pay any Indebtedness (other than
Indebtedness owing to the Issuer or a Restricted Subsidiary) within any
applicable grace period after final maturity or the acceleration of any such
Indebtedness by the holders thereof because of a default, in each case, if the
total amount of such Indebtedness unpaid or accelerated exceeds $25.0 million or
its foreign currency equivalent,

     

    (f) the
Issuer or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law:

     

    (i) commences
a voluntary case;

     

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

     

    (iii) consents
to the appointment of a Custodian of it or for any substantial part of its
property; or

     

    (iv) makes a
general assignment for the benefit of its creditors or takes any comparable
action under any foreign laws relating to insolvency,

     

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

     

    (i) is for
relief against the Issuer or any Significant Subsidiary in an involuntary
case;

     

    (ii) appoints
a Custodian of the Issuer or any Significant Subsidiary or for any substantial
part of its property; or

     

    (iii) orders
the winding up or liquidation of the Issuer or any Significant
Subsidiary;

     

    or any
similar relief is granted under any foreign laws and the order or decree remains
unstayed and in effect for 60 days,

     

    (h) the
Issuer or any Significant Subsidiary fails to pay final judgments aggregating in
excess of $25.0 million or its foreign currency equivalent (net of any amounts
which are covered by enforceable insurance policies issued by solvent carriers),
which judgments are not discharged, waived or stayed for a period of 60 days
following the entry thereof,

     

    (i) any
Guarantee of a Significant Subsidiary with respect to such Securities ceases to
be in full force and effect (except as contemplated by the terms thereof) or any
Note Guarantor denies or disaffirms its obligations under this Indenture or any
Guarantee with respect to such Securities and such Default continues for 10
days,

     

    (j) unless
all of the Collateral has been released in accordance with the provisions of the
Security Documents from the Liens granted thereunder, the Issuer shall assert or
any Note Guarantor shall assert, in any pleading in any court of competent
jurisdiction, that any such security interest is invalid or unenforceable and,
in the case of any such Person that is a Subsidiary of the Issuer, the Issuer
fails to cause such Subsidiary to rescind such assertions within 30 days after
the Issuer has actual knowledge of such assertions, or

     

    
      
        
          

          
            	
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    (k) the
Issuer or any Note Guarantor fails to comply for 60 days after notice with its
other agreements contained in the Security Documents except for a failure that
would not be material to the holders of such Securities and would not materially
affect the value of the Collateral taken as a whole.

     

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

     

    The term
“Bankruptcy Law” means Title 11, United States Code, or any similar Federal or
state law for the relief of debtors.  The term “Custodian” means any
receiver, trustee, assignee, liquidator, custodian or similar official under any
Bankruptcy Law.

     

    A Default
under clause (d) or (k) above shall not constitute an Event of Default until the
Trustee notifies the Issuer or the Holders of at least 25% in principal amount
of the outstanding Securities notify the Issuer and the Trustee of the Default
and the Issuer does not cure such Default within the time specified in clause
(d) or (k) above after receipt of such notice.  Such notice must
specify the Default, demand that it be remedied and state that such notice is a
“Notice of Default.”  The Issuer shall deliver to the Trustee, within
five (5) Business Days after the occurrence thereof, written notice in the form
of an Officers’ Certificate of any event which is, or with the giving of notice
or the lapse of time or both would become, an Event of Default, its status and
what action the Issuer is taking or propose to take with respect
thereto.

     

    SECTION
6.02. Acceleration.  If
an Event of Default (other than an Event of Default specified in Section 6.01(f)
or (g) with respect to the Issuer) occurs with respect to the Securities and is
continuing, the Trustee or the Holders of at least 25% in principal amount of
outstanding Securities, by notice to the Issuer may declare the principal of,
premium, if any, and accrued but unpaid interest on all the Securities to be due
and payable.  If an Event of Default specified in Section 6.01(f) or
(g) with respect to the Issuer occurs, the principal of, premium, if any, and
interest on all the Securities shall become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any
Holders.  The Holders of a majority in principal amount of the
Securities by notice to the Trustee may rescind any such acceleration and its
consequences.

     

    In the
event of any Event of Default specified in Section 6.01(e), such Event of
Default and all consequences thereof (excluding, however, any resulting payment
default) shall be annulled, waived and rescinded, automatically and without any
action by the Trustee or the Holders, if within 20 days after such Event of
Default arose the Issuer delivers an Officers’ Certificate to the Trustee
stating that (x) the Indebtedness or guarantee that is the basis for such Event
of Default has been discharged or (y) the holders thereof have rescinded or
waived the acceleration, notice or action (as the case may be) giving rise to
such Event of Default or (z) the default that is the basis for such Event of
Default has been cured, it being understood that in no event shall an
acceleration of the principal amount of the Securities as described above be
annulled, waived or rescinded upon the happening of any such
events.

     

    SECTION
6.03. Other
Remedies.  If
an Event of Default with respect to the Securities occurs and is continuing, the
Trustee may pursue any available remedy at law or in equity to collect the
payment of principal of or interest on the Securities or to enforce the
performance of any provision of the Securities, this Indenture or the Security
Documents.

     

    The
Trustee may maintain a proceeding even if it does not possess any of the
Securities or does not produce any of them in the proceeding.  A delay
or omission by the Trustee or any Holder in exercising any right or remedy
accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default.  No
remedy is exclusive of any other remedy.  To the extent required by
law, all available remedies are cumulative.

     

    SECTION
6.04. Waiver of Past
Defaults.  Provided
the Securities are not then due and payable by reason of a declaration of
acceleration, the Holders of a majority in principal amount of the Securities by
written notice to the Trustee may waive an existing Default or Event of Default
and its consequences except (a) a Default in the payment of the principal of or
interest on a Security, (b) a Default arising from the failure to redeem or
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    any
Security when required pursuant to the terms of this Indenture or (c) a Default
in respect of a provision that under Section 9.02 cannot be amended without the
consent of each Holder affected.  When a Default is waived, it is
deemed cured and the Issuer, the Trustee and the Holders will be restored to
their former positions and rights under this Indenture, but no such waiver shall
extend to any subsequent or other Default or impair any consequent
right.

     

    SECTION
6.05. Control by
Majority.  Subject
to the terms of the Intercreditor Agreements, the Holders of a majority in
principal amount of the Securities may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or of
exercising any trust or power conferred on the Trustee.  However, the
Trustee may refuse to follow any direction that conflicts with law or this
Indenture or, subject to Section 7.01, that the Trustee determines is unduly
prejudicial to the rights of any other Holder or that would involve the Trustee
in personal liability.  Prior to taking any action under this
Indenture, the Trustee shall be entitled to indemnification satisfactory to it
in its sole discretion against all losses and expenses caused by taking or not
taking such action.

     

    SECTION
6.06. Limitation on
Suits.

     

    (a) Except to
enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to this Indenture or the
Securities unless:

     

    (i) the
Holder gives to the Trustee written notice stating that an Event of Default is
continuing;

     

    (ii) the
Holders of at least 25% in principal amount of the Securities make a written
request to the Trustee to pursue the remedy;

     

    (iii) such
Holder or Holders offer to the Trustee reasonable security or indemnity
satisfactory to it against any loss, liability or expense;

     

    (iv) the
Trustee does not comply with the request within 60 days after receipt of the
request and the offer of security or indemnity; and

     

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

     

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

     

    SECTION
6.07. Rights of the Holders to
Receive Payment.  Notwithstanding
any other provision of this Indenture, the right of any Holder to receive
payment of principal of and interest on the Securities held by such Holder, on
or after the respective due dates expressed or provided for in the Securities,
or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such
Holder.

     

    SECTION
6.08. Collection Suit by
Trustee.  If
an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing
with respect to Securities, the Trustee may recover judgment in its own name and
as trustee of an express trust against the Issuer or any other Obligor on the
Securities for the whole amount then due and owing (together with interest on
overdue principal and (to the extent lawful) on any unpaid interest at the rate
provided for in such Securities) and the amounts provided for in Section
7.07.

     

    SECTION
6.09. Trustee May File Proofs of
Claim.  The
Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any
claim for reasonable compensation, expenses disbursements and advances of the
Trustee (including counsel, accountants, experts or such other professionals as
the Trustee deems necessary, advisable or appropriate)) and the Holders of
Securities then outstanding allowed in any judicial proceedings relative to the
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    tor, its
creditors or its property, shall be entitled to participate as a member, voting
or otherwise, of any official committee of creditors appointed in such matters
and, unless prohibited by law or applicable regulations, may vote on behalf of
the Holders in any election of a trustee in bankruptcy or other Person
performing similar functions, and any Custodian in any such judicial proceeding
is hereby authorized by each Holder to make payments to the Trustee and, in the
event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and its counsel, and any other amounts due the Trustee under Section
7.07.

     

    SECTION
6.10. Priorities.  Subject
to the provisions of the Intercreditor Agreements and the Security Documents, if
the Trustee collects any money or property pursuant to this Article 6, it
shall pay out the money or property in the following order:

     

    FIRST:  to
the Trustee for amounts due under Section 7.07;

     

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

     

    THIRD:  to
the Issuer.

     

    The
Trustee may fix a record date and payment date for any payment to the Holders
pursuant to this Section.  At least 15 days before such record date,
the Trustee shall send to each Holder and the Issuer a notice that states the
record date, the payment date and amount to be paid.

     

    SECTION
6.11. Undertaking for
Costs.  In
any suit for the enforcement of any right or remedy under this Indenture or in
any suit against the Trustee for any action taken or omitted by it as Trustee, a
court in its discretion may require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant.  This
Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in principal amount of the
Securities.

     

    SECTION
6.12. Waiver of Stay or Extension
Laws.  Neither
the Issuer nor any Note Guarantor (to the extent it may lawfully do so) shall at
any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law wherever enacted, now or at
any time hereafter in force, which may affect the covenants or the performance
of this Indenture; and the Issuer and each Note Guarantor (to the extent that it
may lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and shall not hinder, delay or impede the execution of any power herein
granted to the Trustee, but shall suffer and permit the execution of every such
power as though no such law had been enacted.

     

    ARTICLE
7

     

    TRUSTEE

     

    SECTION
7.01. Duties of
Trustee.

     

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

     

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

     

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

     

    
      
        
          

          
            	
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    (ii) Trustee
(it being agreed that the permissive right of the Trustee to do things
enumerated in this Indenture shall not be construed as a duty); and

     

    (iii) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein,
upon certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture.  The Trustee shall be under no duty to
make any investigation as to any statement contained in any such instance, but
may accept the same as conclusive evidence of the truth and accuracy of such
statement or the correctness of such opinions.  However, in the case
of certificates or opinions required by any provision hereof to be provided to
it, the Trustee shall examine the certificates and opinions to determine whether
or not they conform to the requirements of this Indenture.

     

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

     

    (i) this
paragraph does not limit the effect of paragraph (b) of this
Section;

     

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

     

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

     

    (iv) no
provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur financial liability in the performance of any of its
duties hereunder or in the exercise of any of its rights or powers.

     

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

     

    (e) The
Trustee shall not be liable for interest on any money received by it except as
the Trustee may agree in writing with the Issuer.

     

    (f) Money
held in trust by the Trustee need not be segregated from other funds except to
the extent required by law.

     

    (g) Every
provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the provisions of
this Section and to the provisions of the TIA.

     

    SECTION
7.02. Rights of
Trustee.

     

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

     

    (b) Before
the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel or both.  The Trustee shall not
be liable for any action it takes or omits to take in good faith in reliance on
the Officers’ Certificate or Opinion of Counsel.

     

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

     

    (d) The
Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s
conduct does not constitute willful misconduct or gross negligence.

     

    
      
        
          

          
            	
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    (e) The
Trustee may consult with counsel of its own selection and the advice or opinion
of counsel with respect to legal matters relating to this Indenture and the
Securities shall be full and complete authorization and protection from
liability in respect of any action taken, omitted or suffered by it hereunder in
good faith and in accordance with the advice or opinion of such
counsel.

     

    (f) The
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond, debenture, note or other paper
or document unless requested in writing to do so by the Holders of not less than
a majority in principal amount of the Securities at the time outstanding, but
the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Issuer, personally or by agent or
attorney, at the expense of the Issuer and shall incur no liability of any kind
by reason of such inquiry or investigation.

     

    (g) The
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders
pursuant to this Indenture, unless such Holders shall have offered to the
Trustee security or indemnity satisfactory to the Trustee against the costs,
expenses and liabilities which might be incurred by it in compliance with such
request or direction.

     

    (h) The
rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable
by, the Trustee in each of its capacities hereunder, and each agent, custodian
and other Person employed to act hereunder.

     

    (i) The
Trustee shall not be liable for any action taken or omitted by it in good faith
at the direction of the Holders of not less than a majority in principal amount
of the Securities as to the time, method and place of conducting any proceedings
for any remedy available to the Trustee or the exercising of any power conferred
by this Indenture.

     

    (j) Any
action taken, or omitted to be taken, by the Trustee in good faith pursuant to
this Indenture upon the request or authority or consent of any person who, at
the time of making such request or giving such authority or consent, is the
Holder of any Security shall be conclusive and binding upon future Holders of
Securities and upon Securities executed and delivered in exchange therefor or in
place thereof.

     

    SECTION
7.03. Individual Rights of
Trustee.  The
Trustee in its individual or any other capacity may become the owner or pledgee
of Securities and may otherwise deal with the Issuer or their Affiliates with
the same rights it would have if it were not Trustee.  Any Paying
Agent or Registrar may do the same with like rights.  However, the
Trustee must comply with Sections 7.10 and 7.11.

     

    SECTION
7.04. Trustee’s
Disclaimer.  The
Trustee shall not be responsible for and makes no representation as to the
validity or adequacy of this Indenture, any Guarantee or the Securities, it
shall not be accountable for the Issuer’s use of the proceeds from the
Securities, and it shall not be responsible for any statement of the Issuer or
any Note Guarantor in this Indenture or in any document issued in connection
with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication.  The Trustee shall not be charged with
knowledge of any Default or Event of Default under Sections 6.01(c), (d), (e),
(h), or (i) or of the identity of any Significant Subsidiary unless either (a) a
Trust Officer shall have actual knowledge thereof or (b) the Trustee shall have
received written notice thereof in accordance with Section 13.02 hereof from the
Issuer, any Note Guarantor or any Holder.  In accepting the trust
hereby created, the Trustee acts solely as Trustee for the Holders and not in
its individual capacity and all persons, including without limitation the
Holders of Securities and the Issuer having any claim against the Trustee
arising from this Indenture shall look only to the funds and accounts held by
the Trustee hereunder for payment except as otherwise provided
herein.

     

    SECTION
7.05. Notice of
Defaults.  If
a Default occurs and is continuing and if it is actually known to the Trustee,
the Trustee shall send to each Holder notice of the Default within the earlier
of 90 days after it occurs or 30 days after it is actually known to a Trust
Officer or written notice of it is received by the Trustee.  Except in
the case of a Default in the payment of principal of, premium (if any) or
interest on any Security, the Trustee

     

    
      
        
          

          
            	
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    may
withhold the notice if and so long as a committee of its Trust Officers in good
faith determines that withholding the notice is in the interests of the
Holders.

     

    SECTION
7.06. Reports by Trustee to the
Holders.  As
promptly as practicable after each April 15 beginning with the April
15  following the date of this Indenture, and in any event prior to
April 15  in each year, the Trustee shall send to each Holder a brief
report dated as of such April 15 that complies with Section 313(a) of the
TIA if and to the extent required thereby.  The Trustee shall also
comply with Section 313(b) of the TIA.

     

    A copy of
each report at the time of its mailing to the Holders shall be filed with the
SEC and each stock exchange (if any) on which the Securities are
listed.  The Issuer agrees to notify promptly the Trustee whenever the
Securities become listed on any stock exchange and of any delisting
thereof.

     

    SECTION
7.07. Compensation and
Indemnity.  The
Issuer shall pay to the Trustee from time to time reasonable compensation for
its services.  The Trustee’s compensation shall not be limited by any
law on compensation of a trustee of an express trust.  The Issuer
shall reimburse the Trustee upon request for all reasonable out-of-pocket
expenses incurred or made by it, including costs of collection, in addition to
the compensation for its services.  Such expenses shall include the
reasonable compensation and expenses, disbursements and advances of the
Trustee’s agents, counsel, accountants and experts.  The Issuer and
each Note Guarantor, jointly and severally shall indemnify the Trustee against
any and all loss, liability, claim, damage or expense (including reasonable
attorneys’ fees and expenses) incurred by or in connection with the acceptance
or administration of this trust and the performance of its duties hereunder,
including the costs and expenses of enforcing this Indenture or Guarantee
against the Issuer or a Note Guarantor (including this Section 7.07) and
defending itself against or investigating any claim (whether asserted by the
Issuer, any Note Guarantor, any Holder or any other Person).  The
obligation to pay such amounts shall survive the payment in full or defeasance
of the Securities or the removal or resignation of the Trustee.  The
Trustee shall notify the Issuer of any claim for which it may seek indemnity
promptly upon obtaining actual knowledge thereof; provided, however, that any failure so
to notify the Issuer shall not relieve the Issuer or any Note Guarantor of its
indemnity obligations hereunder.  The Issuer shall defend the claim
and the indemnified party shall provide reasonable cooperation at the Issuer’s
expense in the defense.  Such indemnified parties may have separate
counsel and the Issuer and the Note Guarantors, as applicable shall pay the fees
and expenses of such counsel; provided, however, that the Issuer
shall not be required to pay such fees and expenses if it assumes such
indemnified parties’ defense and, in such indemnified parties’ reasonable
judgment, there is no conflict of interest between the Issuer and the Note
Guarantors, as applicable, and such parties in connection with such
defense.  The Issuer need not reimburse any expense or indemnify
against any loss, liability or expense incurred by an indemnified party through
such party’s own willful misconduct, negligence or bad faith.

     

    To secure
the Issuer’s and the Note Guarantors’ payment obligations in this Section, the
Trustee shall have a Lien prior to the Securities on all money or property held
or collected by the Trustee other than money or property held in trust to pay
principal of and interest on particular Securities pursuant to Article 8
hereof or otherwise.

     

    The
Issuer’s and the Note Guarantors’ payment obligations pursuant to this Section
shall survive the satisfaction or discharge of this Indenture, any rejection or
termination of this Indenture under any Bankruptcy Law or the resignation or
removal of the Trustee.  Without prejudice to any other rights
available to the Trustee under applicable law, when the Trustee incurs expenses
after the occurrence of a Default specified in Section 6.01(f) or (g) with
respect to the Issuer, the expenses are intended to constitute expenses of
administration under the Bankruptcy Law.

     

    No
provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if
repayment of such funds or adequate indemnity against such risk or liability is
not assured to its satisfaction.

     

    
      
        
          

          
            	
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    Replacement
of Trustee.

     

    (a) The
Trustee may resign at any time by so notifying the Issuer.  The
Holders of a majority in principal amount of the Securities may remove the
Trustee by so notifying the Trustee and may appoint a successor
Trustee.  The Issuer shall remove the Trustee if:

     

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

     

    (ii) the
Trustee is adjudged bankrupt or insolvent;

     

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

     

    (iv) the
Trustee otherwise becomes incapable of acting.

     

    (b) If the
Trustee resigns, is removed by the Issuer or by the Holders of a majority in
principal amount of the Securities and such Holders do not reasonably promptly
appoint a successor Trustee, or if a vacancy exists in the office of Trustee for
any reason (the Trustee in such event being referred to herein as the retiring
Trustee), the Issuer shall promptly appoint a successor Trustee.

     

    (c) A
successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Issuer.  Thereupon the resignation or
removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee under this
Indenture.  The successor Trustee shall send a notice of its
succession to the Holders.  The retiring Trustee shall promptly
transfer all property held by it as Trustee to the successor Trustee, subject to
the Lien provided for in Section 7.07.

     

    (d) If a
successor Trustee does not take office within 60 days after the retiring Trustee
resigns or is removed, the retiring Trustee or the Holders of 10% in principal
amount of the Securities may petition at the expense of the Issuer any court of
competent jurisdiction for the appointment of a successor Trustee.

     

    (e) If the
Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign
is stayed as provided in Section 310(b) of the TIA, any Holder who has been a
bona fide holder of a Security for at least six months may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee.

     

    (f) Notwithstanding
the replacement of the Trustee pursuant to this Section, the Issuer’s
obligations under Section 7.07 shall continue for the benefit of the retiring
Trustee.

     

    SECTION
7.08. Successor Trustee by
Merger.  If
the Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation
or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Trustee.

     

    In case
at the time such successor or successors by merger, conversion or consolidation
to the Trustee shall succeed to the trusts created by this Indenture any of the
Securities shall have been authenticated but not delivered, any such successor
to the Trustee may adopt the certificate of authentication of any predecessor
trustee, and deliver such Securities so authenticated; and in case at that time
any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases
such certificates shall have the full force which it is anywhere in the
Securities or in this Indenture provided that the certificate of the Trustee
shall have.

     

    SECTION
7.09. Eligibility;
Disqualification.  The
Trustee shall at all times satisfy the requirements of Section 310(a) of the
TIA.  The Trustee shall have a combined capital and surplus of at
least $100 million as set forth in its most recent published annual report of
condition.  The Trustee shall comply with Section 310(b) of the TIA,
subject to its right to apply for a stay of its duty to resign under the
penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be
excluded from the operation of Section 310(b)(1) of the TIA any series of
securities issued under this Indenture and any indenture or indentures under
which other securities or ce

     

    
      
        
          

          
            	
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    tificates
of interest or participation in other securities of the Issuer are outstanding
if the requirements for such exclusion set forth in Section 310(b)(1) of the TIA
are met.

     

    SECTION
7.10. Preferential Collection of
Claims Against the Issuer.  The
Trustee shall comply with Section 311(a) of the TIA, excluding any creditor
relationship listed in Section 311(b) of the TIA.  A Trustee who has
resigned or been removed shall be subject to Section 311(a) of the TIA to the
extent indicated.

     

    ARTICLE
8

     

    DISCHARGE
OF INDENTURE; DEFEASANCE

     

    SECTION
8.01. Discharge of Liability on
Securities; Defeasance.  This
Indenture shall be discharged and shall cease to be of further effect (except as
to surviving rights of registration of transfer or exchange of Securities, as
expressly provided for in this Indenture) as to all outstanding Securities
when:

     

    (a) either
(i) all the Securities theretofore authenticated and delivered (other than
Securities pursuant to Section 2.08 which have been replaced or paid and
Securities for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Issuer and thereafter repaid to the Issuer
or discharged from such trust) have been delivered to the Trustee for
cancellation or (ii) all of the Securities (a) have become due and payable, (b)
will become due and payable at their stated maturity within the remaining term
of the then current Interest Period or (c) if redeemable at the option of
the Issuer, are to be called for redemption within the remaining term of the
then current Interest Period under arrangements satisfactory to the Trustee for
the giving of notice of redemption by the Trustee in the name, and at the
expense, of the Issuer, and the Issuer has irrevocably deposited or caused to be
deposited with the Trustee cash in U.S. Dollars, U.S. Government Obligations or
a combination thereof in an amount sufficient in the written opinion of a firm
of independent public accountants delivered to the Trustee (which delivery shall
only be required if U.S. Government Obligations have been so deposited) to pay
and discharge the entire Indebtedness on the Securities not theretofore
delivered to the Trustee for cancellation, for principal of, premium, if any,
and interest on the Securities to the date of deposit together with irrevocable
instructions from the Issuer directing the Trustee to apply such funds to the
payment thereof at maturity or redemption, as the case may be;

     

    (b) the
Issuer and/or the Note Guarantors have paid all other sums payable under this
Indenture; and

     

    (c) the
Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel stating that all conditions precedent under this Indenture relating to
the satisfaction and discharge of this Indenture have been complied
with.

     

    Subject
to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i) all of
its obligations under the Securities and this Indenture (“legal defeasance
option”) or (ii) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06,
4.07, 4.08, 4.09, 4.11, 4.12 and 4.15 for the benefit of the Securities and the
operation of Section 5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with
respect to Significant Subsidiaries of the Company only), 6.01(g) (with respect
to Significant Subsidiaries of the Company only), 6.01(h), 6.01(i), 6.01(j) and
6.01(k) (“covenant defeasance option”) for the benefit of the
Securities.  The Issuer may exercise its legal defeasance option
notwithstanding its prior exercise of its covenant defeasance
option.  In the event that the Issuer terminates all of its
obligations under the Securities and this Indenture (with respect to such
Securities) by exercising its legal defeasance option or its covenant defeasance
option, the obligations of each Note Guarantor under its Guarantee of such
Securities and all obligations under the Security Documents shall be terminated
simultaneously with the termination of such obligations.

     

    If the
Issuer exercises its legal defeasance option, payment of the Securities so
defeased may not be accelerated because of an Event of Default.  If
the Issuer exercises its covenant defeasance option, payment of the Securities
so defeased may not be accelerated because of an Event of Default specified in
Section 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant
Subsidiaries of the Company only), 6.01(g) (with respect to
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    Subsidiaries
of the Company only), 6.01(h), 6.01(i), 6.01(j) or because of the failure of the
Issuer to comply with Section 5.01.

     

    Upon
satisfaction of the conditions set forth herein and upon request of the Issuer,
the Trustee shall acknowledge in writing the discharge of those obligations that
the Issuer terminates.

     

    Notwithstanding
clauses (a) and (b) above, the Issuer’s obligations in Sections 2.04, 2.05,
2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive
until the Securities have been paid in full.  Thereafter, the Issuer’s
obligations in Sections 7.07, 8.05 and 8.06 shall survive such satisfaction and
discharge.

     

    SECTION
8.02. Conditions to
Defeasance

     

    (a) The
Issuer may exercise its legal defeasance option or its covenant defeasance
option, in each case, with respect to the Securities only if:

     

    (i) the
Issuer irrevocably deposits in trust with the Trustee cash in U.S. Dollars, U.S.
Government Obligations or a combination thereof in an amount sufficient or U.S.
Government Obligations, the principal of and the interest on which will be
sufficient, or a combination thereof sufficient, to pay the principal of and
premium (if any) and interest on the Securities when due at maturity or
redemption (such interest to be calculated at a rate equal to the rate in effect
pursuant to Paragraph 1 of the Security on the date of the effectiveness of
the defeasance), as the case may be, including interest thereon to maturity or
such redemption date;

     

    (ii) the
Issuer delivers to the Trustee a certificate from a nationally recognized firm
of independent accountants expressing their opinion that the payments of
principal and interest when due and without reinvestment on the deposited U.S.
Government Obligations plus any deposited money without investment will provide
cash at such times and in such amounts as will be sufficient to pay principal,
premium, if any, and interest when due on all the Securities to maturity or
redemption (such interest to be calculated at a rate equal to the rate in effect
pursuant to Paragraph 1 of the Security on the date of the effectiveness of
the defeasance), as the case may be;

     

    (iii) 123 days
pass after the deposit is made and during the 123-day period no Default
specified in Section 6.01(f) or (g) with respect to the Issuer occurs which is
continuing at the end of the period;

     

    (iv) the
deposit does not constitute a default under any other agreement binding on the
Issuer;

     

    (v) in the
case of the legal defeasance option, the Issuer shall have delivered to the
Trustee an Opinion of Counsel stating that (1) the Issuer has received from, or
there has been published by, the Internal Revenue Service a ruling, or (2) since
the date of this Indenture there has been a change in the applicable Federal
income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders will not recognize income,
gain or loss for Federal income tax purposes as a result of such deposit and
defeasance and will be subject to Federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such deposit
and defeasance had not occurred;

     

    (vi) such
exercise does not impair the right of any Holder to receive payment of
principal, premium, if any, and interest on such Holder’s Securities on or after
the due dates therefore or to institute suit for the enforcement of any payment
on or with respect to such Holder’s Securities;

     

    (vii) in the
case of the covenant defeasance option, the Issuer shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders will not recognize
income, gain or loss for Federal income tax purposes as a result of such deposit
and defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such
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    (viii) the
Issuer delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and
discharge of the Securities to be so defeased and discharged as contemplated by
this Article 8 have been complied with.

     

    (b) Before or
after a deposit, the Issuer may make arrangements satisfactory to the Trustee
for the redemption of such Securities at a future date in accordance with
Article 3.

     

    SECTION
8.03. Application of Trust
Money.  The
Trustee shall hold in trust money or U.S. Government Obligations (including
proceeds thereof) deposited with it pursuant to this
Article 8.  It shall apply the deposited money and the money from
U.S. Government Obligations through each Paying Agent and in accordance with
this Indenture to the payment of principal of and interest on the Securities so
discharged or defeased.

     

    SECTION
8.04. Repayment to
Company.  Each
of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon
request any money or U.S. Government Obligations held by it as provided in this
Article which, in the written opinion of nationally recognized firm of
independent public accountants delivered to the Trustee (which delivery shall
only be required if U.S. Government Obligations have been so deposited), are in
excess of the amount thereof which would then be required to be deposited to
effect an equivalent discharge or defeasance in accordance with this
Article 8.

     

    Subject
to any applicable abandoned property law, the Trustee and each Paying Agent
shall pay to the Issuer upon written request any money held by them for the
payment of principal or interest that remains unclaimed for two years, and,
thereafter, Holders entitled to the money must look to the Issuer for payment as
general creditors, and the Trustee and each Paying Agent shall have no further
liability with respect to such monies.

     

    SECTION
8.05. Indemnity for U.S.
Government Obligations.  The
Issuer shall pay and shall indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against deposited U.S. Government Obligations or
the principal and interest received on such U.S. Government
Obligations.

     

    SECTION
8.06. Reinstatement.  If
the Trustee or any Paying Agent is unable to apply any money or U.S. Government
Obligations in accordance with this Article 8 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the
Issuer’s obligations under this Indenture and the Securities so discharged or
defeased shall be revived and reinstated as though no deposit had occurred
pursuant to this Article 8 until such time as the Trustee or any Paying
Agent is permitted to apply all such money or U.S. Government Obligations in
accordance with this Article 8; provided, however, that, if the Issuer
has made any payment of principal of or interest on, any such Securities because
of the reinstatement of its obligations, the Issuer shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the money
or U.S. Government Obligations held by the Trustee or any Paying
Agent.

     

    ARTICLE
9

     

    AMENDMENTS
AND WAIVERS

     

    SECTION
9.01. Without Consent of the
Holders.  The
Issuer and the Trustee may amend this Indenture, the Securities, any Security
Document or the Intercreditor Agreements with respect to the Securities without
notice to or consent of any Holder:

     

    (i) to cure
any ambiguity, omission, defect or inconsistency;

     

    (ii) to
provide for the assumption by a Successor Company of the obligations of the
Issuer under this Indenture and the Securities;

     

    (iii) to
provide for the assumption by a Successor Note Guarantor of the obligations of a
Note Guarantor under this Indenture and its Guarantee;

     

    
      
        
          

          
            	
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    (iv) to
provide for uncertificated Securities in addition to or in place of certificated
Securities; provided,
however, that the
uncertificated Securities are issued in registered form for purposes of Section
163(f) of the Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code;

     

    (v) to add
additional Guarantees with respect to the Securities or to secure the
Securities;

     

    (vi) to add
additional assets as Collateral;

     

    (vii) to
release Collateral from the Lien pursuant to this Indenture, the Security
Documents and the Intercreditor Agreements when permitted or required by this
Indenture or the Security Documents;

     

    (viii) to add to
the covenants of the Issuer for the benefit of the Holders or to surrender any
right or power herein conferred upon the Issuer;

     

    (ix) to modify
the Security Documents and/or the Intercreditor Agreements (and/or enter into
new Security Documents and/or intercreditor agreements) to secure Other First
Priority Lien Obligations (other than the Note Obligations) or other Obligations
in accordance with the terms of the Security Documents, the Intercreditor
Agreements, Section 4.12 or Article 11 of this Indenture;

     

    (x) to comply
with any requirement of the SEC in connection with qualifying or maintaining the
qualification of, this Indenture under the TIA;

     

    (xi) to make
any change that does not adversely affect the rights of any Holder;

     

    (xii) to effect
any provision of this Indenture or to make certain changes to this Indenture to
provide for the issuance of Additional Securities; or

     

    (xiii) to
provide for the issuance of the Exchange Securities or Additional Securities,
which shall have terms substantially identical in all material respects to the
Initial Securities, and which shall be treated, together with any outstanding
Initial Securities, as a single issue of securities.

     

    After an
amendment under this Section 9.01 becomes effective, the Issuer shall mail to
the Holders a notice briefly describing such amendment.  The failure
to give such notice to all Holders, or any defect therein, shall not impair or
affect the validity of an amendment under this Section 9.01.

     

    SECTION
9.02. With Consent of the
Holders.  The
Issuer and the Trustee may amend this Indenture, the Securities and the Security
Documents with respect to the Securities with the written consent of the Holders
of at least a majority in principal amount of the Securities then outstanding
voting as a single class (including consents obtained in connection with a
tender offer or exchange for the Securities).  However, without the
consent of each Holder of an outstanding Security affected, an amendment may
not:

     

    (i) reduce
the amount of Securities whose Holders must consent to an
amendment,

     

    (ii) reduce
the rate of or extend the time for payment of interest on any
Security,

     

    (iii) reduce
the principal of or change the Stated Maturity of any Security,

     

    (iv) reduce
the premium payable upon the redemption of any Security or change the time at
which any Security may be redeemed in accordance with
Article 3,

     

    (v) make any
Security payable in money other than that stated in such Security,

     

    (vi) expressly
subordinate the Securities or any Guarantees to any other Indebtedness of the
Issuer or any Note Guarantor,

     

    
      
        
          

          
            	
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    (vii) impair
the right of any Holder to receive payment of principal of, premium, if any, and
interest on such Holder’s Securities on or after the due dates therefor or to
institute suit for the enforcement of any payment on or with respect to such
Holder’s Securities,

     

    (viii) make any
change in Section 6.04 or 6.07 or the second sentence of this Section
9.02,

     

    (ix) modify
any Guarantees in any manner adverse to the Holders, or

     

    (x) make any
change in the provisions in the Intercreditor Agreements or this Indenture
dealing with the application of proceeds of Collateral that would adversely
affect the Holders.

     

    Subject
to Section 11.04, without the consent of the holders of at least two-thirds in
aggregate principal amount of the Securities then outstanding, no amendment or
waiver may release all or substantially all of the Collateral from the Lien of
this Indenture and the Security Documents with respect to the
Securities.

     

    It shall
not be necessary for the consent of the Holders under this Section 9.02 to
approve the particular form of any proposed amendment, but it shall be
sufficient if such consent approves the substance thereof.

     

    After an
amendment under this Section 9.02 becomes effective, the Issuer shall promptly
mail to the Holders a notice briefly describing such amendment.  The
failure to give such notice to all Holders, or any defect therein, shall not
impair or affect the validity of an amendment under this Section
9.02.

     

    SECTION
9.03. Compliance with Trust
Indenture Act.  From
the date on which this Indenture is qualified under the TIA, every amendment,
waiver or supplement to this Indenture or the Securities shall comply with the
TIA as then in effect.

     

    SECTION
9.04. Revocation and Effect of
Consents and Waivers.

     

    (a) A consent
to an amendment or a waiver by a Holder of a Security shall bind the Holder and
every subsequent Holder of that Security or portion of the Security that
evidences the same debt as the consenting Holder’s Security, even if notation of
the consent or waiver is not made on the Security.  However, any such
Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s
Security or portion of the Security if the Trustee receives written notice of
revocation delivered in accordance with Section 13.02 before the date on
which the Trustee receives an Officers’ Certificate from the Issuer certifying
that the requisite principal amount of Securities have
consented.  After an amendment or waiver becomes effective, it shall
bind every Holder.  An amendment or waiver becomes effective upon the
(i) receipt by the Issuer or the Trustee of consents by the Holders of the
requisite principal amount of securities, (ii) satisfaction of conditions to
effectiveness as set forth in this Indenture and any indenture supplemental
hereto containing such amendment or waiver and (iii) execution of such amendment
or waiver (or supplemental indenture) by the Issuer and the
Trustee.

     

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

     

    SECTION
9.05. Notation on or Exchange of
Securities.  If
an amendment, supplement or waiver changes the terms of a Security, the Issuer
may require the Holder of the Security to deliver it to the
Trustee.  The Trustee may place an appropriate notation on the
Security regarding the changed terms and return it to the
Holder.  Alternatively, if the Issuer or the Trustee so determines,
the Issuer in exchange for the Security shall issue and the Trustee shall
authenticate a new Security that reflects the changed terms.  Failure
to make the appropriate notation or to issue a new Security shall not affect the
validity of such amendment, supplement or waiver.

     

    
      
        
          

          
            	
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    Trustee
to Sign Amendments.  The
Trustee shall sign any amendment, supplement or waiver authorized pursuant to
this Article 9 if the amendment does not adversely affect the rights,
duties, liabilities or immunities of the Trustee.  If it does, the
Trustee may but need not sign it.  In signing such amendment, the
Trustee shall be entitled to receive indemnity reasonably satisfactory to it and
shall be provided with, and (subject to Section 7.01) shall be fully protected
in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that
such amendment, supplement or waiver is authorized or permitted by this
Indenture and that such amendment, supplement or waiver is the legal, valid and
binding obligation of the Issuer and the Note Guarantors, enforceable against
them in accordance with its terms, subject to customary exceptions, and complies
with the provisions hereof (including Section 9.03).

     

    SECTION
9.06. Payment for
Consent.  Neither
the Issuer nor any Affiliate of the Issuer shall, directly or indirectly, pay or
cause to be paid any consideration, whether by way of interest, fee or
otherwise, to any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Securities
unless such consideration is offered to be paid to all Holders that so consent,
waive or agree to amend in the time frame set forth in solicitation documents
relating to such consent, waiver or agreement.

     

    SECTION
9.07. Additional Voting Terms;
Calculation of Principal Amount.  Except
as otherwise set forth herein, all Securities issued under this Indenture shall
vote and consent separately on all matters as to which any of such Securities
may vote.  Determinations as to whether Holders of the requisite
aggregate principal amount of Securities have concurred in any direction, waiver
or consent shall be made in accordance with this Article 9 and Section
2.14.

     

    ARTICLE
10

     

    RANKING
OF NOTE LIENS

     

    SECTION
10.01. Relative
Rights.  The
Senior Lender Intercreditor Agreement defines the relative rights, as
lienholders, between the holders of the Revolving Facility Obligations on the
one hand and the holders of the Senior Fixed Obligations on the other
hand.  The Second Priority Intercreditor Agreement defines the
relative rights, as lienholders, between the holders of the First Priority Lien
Obligations on the one hand and the holders of second-priority Obligations,
including the Second Priority Notes, on the other hand.  The Senior
Fixed Collateral Intercreditor Agreement allocates the benefits of the Shared
Collateral among the holders of the Senior Fixed Obligations.  Nothing
in this Indenture or the Intercreditor Agreements will:

     

    (a) impair,
as between the Issuer and Holders, the obligation of the Issuer, which is
absolute and unconditional, to pay principal of, premium and interest on the
Securities in accordance with their terms or to perform any other obligation of
the Issuer or any other Obligor under this Indenture, the Securities, the
Guarantees and the Security Documents;

     

    (b) restrict
the right of any Holder to sue for payments that are then due and owing, in a
manner not inconsistent with the provisions of the Intercreditor
Agreements;

     

    (c) prevent
the Trustee, the Notes Collateral Agent or any Holder from exercising against
the Issuer or any other Obligor any of its other available remedies upon a
Default or Event of Default (other than its rights as a secured party, which are
subject to the Intercreditor Agreements); or

     

    (d) restrict
the right of the Trustee, the Notes Collateral Agent or any Holder:

     

    (i) to file
and prosecute a petition seeking an order for relief in an involuntary
Bankruptcy Case as to any Obligor or otherwise to commence, or seek relief
commencing, any insolvency or liquidation Proceeding involuntarily against any
Obligor;

     

    (ii) to make,
support or oppose any request for an order for dismissal, abstention or
conversion in any insolvency or liquidation proceeding;

     

    
      
        
          

          
            	
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    (iii) to make,
support or oppose, in any insolvency or liquidation proceeding, any request for
an order extending or terminating any period during which the debtor (or any
other Person) has the exclusive right to propose a plan of reorganization or
other dispositive restructuring or liquidation plan therein;

     

    (iv) to seek
the creation of, or appointment to, any official committee representing
creditors (or certain of the creditors) in any insolvency or liquidation
proceedings and, if appointed, to serve and act as a member of such committee
without being in any respect restricted or bound by, or liable for, any of the
obligations under this Article 10;

     

    (v) to seek
or object to the appointment of any professional person to serve in any capacity
in any insolvency or liquidation proceeding or to support or object to any
request for compensation made by any professional person or others
therein;

     

    (vi) to make,
support or oppose any request for order appointing a trustee or examiner in any
insolvency or liquidation proceedings; or

     

    (vii) otherwise
to make, support or oppose any request for relief in any insolvency or
liquidation proceeding that it is permitted by law to make, support or oppose if
it were a holder of unsecured claims; or

     

    (viii)           as
to any matter relating to any plan of reorganization or other restructuring or
liquidation plan or as to any matter relating to the administration of the
estate or the disposition of the case or proceeding (in each case except as set
forth in the Intercreditor Agreements).

     

    ARTICLE
11

     

    COLLATERAL

     

    SECTION
11.01. Security
Documents.  The
payment of the principal of and interest and premium, if any, on the Securities
when due, whether on an interest payment date, at maturity, by acceleration,
repurchase, redemption or otherwise and whether by the Issuer pursuant to the
Securities or by any Note Guarantor pursuant to its Guarantees, the payment of
all other Obligations and the performance of all other obligations of the Issuer
and the Note Guarantors under this Indenture, the Securities, the Guarantees and
the Security Documents are secured as provided in the Security Documents which
the Issuer and the Note Guarantors have entered into simultaneously with the
execution of this Indenture and will be secured by Security Documents hereafter
delivered as required or permitted by this Indenture. The Issuer shall, and
shall cause each Restricted Subsidiary to, and each Restricted Subsidiary shall,
do all filings (including filings of continuation statements and amendments to
UCC financing statements that may be necessary to continue the effectiveness of
such UCC financing statements) and all other actions as are necessary or
required by the Security Documents to maintain (at the sole cost and expense of
the Issuer and its Restricted Subsidiaries) the security interest created by the
Security Documents in the Collateral (other than with respect to any Collateral
the security interest in which is not required to be perfected under the
Security Documents) as a perfected first priority security interest subject only
to Permitted Liens.

     

    SECTION
11.02. Notes Collateral
Agent.

     

    (a) The Notes
Collateral Agent is authorized and empowered to appoint one or more co-Notes
Collateral Agents as it deems necessary or appropriate.

     

    (b) Subject
to Section 7.01, neither the Trustee nor the Notes Collateral Agent nor any of
their respective officers, directors, employees, attorneys or agents will be
responsible or liable for the existence, genuineness, value or protection of any
Collateral, for the legality, enforceability, effectiveness or sufficiency of
the Security Documents, for the creation, perfection, priority, sufficiency or
protection of any Lien, or for any defect or deficiency as to any such matters,
or for any failure to demand, collect, foreclose or realize upon or otherwise
enforce any of the Liens or Security Documents or any delay in doing
so.

     

    
      
        
          

          
            	
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    (c) Subject
to the Security Documents and the Intercreditor Agreements, the Notes Collateral
Agent will be subject to such directions as may be given it by the Trustee from
time to time (as required or permitted by this Indenture). Subject to the terms
of the Security Documents and the Intercreditor Agreements, except as directed
by the Trustee as required or permitted by this Indenture and any other
representatives, the Notes Collateral Agent will not be obligated:

     

    (i) to act
upon directions purported to be delivered to it by any other
Person;

     

    (ii) to
foreclose upon or otherwise enforce any Lien; or

     

    (iii) to take
any other action whatsoever with regard to any or all of the Liens, Security
Documents or Collateral.

     

    (d) The Notes
Collateral Agent will be accountable only for amounts that it actually receives
as a result of the enforcement of the Liens or Security Documents.

     

    (e) In acting
as Notes Collateral Agent or co-Notes Collateral Agent, the Notes Collateral
Agent and each co-Notes Collateral Agent may rely upon and enforce each and all
of the rights, powers, immunities, indemnities and benefits of the Trustee under
Article 7 hereof.

     

    (f) [Intentionally
omitted].

     

    (g) If the
Issuer (i) Incurs Revolving Facility Obligations at any time when no
intercreditor agreement is in effect or at any time when Indebtedness
constituting Revolving Facility Obligations entitled to the benefit of an
existing Senior Lender Intercreditor Agreement is concurrently retired, and (ii)
delivers to the Notes Collateral Agent an Officers’ Certificate so stating and
requesting the Notes Collateral Agent to enter into an intercreditor agreement
(on substantially the same terms as the Senior Lender Intercreditor Agreement in
effect on the Issue Date) in favor of a designated agent or representative for
the holders of the Revolving Facility Obligations so Incurred, the Trustee and
the Notes Collateral Agent shall (and is hereby authorized and directed to)
enter into such intercreditor agreement, bind the Holders on the terms set forth
therein and perform and observe its obligations thereunder.

     

    SECTION
11.03. Authorization of Actions to
Be Taken.

     

    (a) Each
Holder of Securities, by its acceptance thereof, consents and agrees to the
terms of each Security Document and the Intercreditor Agreements, as originally
in effect and as amended, supplemented or replaced from time to time in
accordance with its terms or the terms of this Indenture, authorizes and directs
the Trustee and the Notes Collateral Agent to enter into the Security Documents
to which it is a party, authorizes and empowers the Trustee to direct the Notes
Collateral Agent to enter into, and the Notes Collateral Agent to execute and
deliver, the Intercreditor Agreements, and authorizes and empowers the Trustee
and the Notes Collateral Agent to bind the Holders of Securities and other
holders of Obligations as set forth in the Security Documents to which it is a
party and the Intercreditor Agreements and to perform its obligations and
exercise its rights and powers thereunder.

     

    (b) The Notes
Collateral Agent and the Trustee are authorized and empowered to receive for the
benefit of the Holders of Securities any funds collected or distributed under
the Security Documents to which the Notes Collateral Agent or Trustee is a party
and to make further distributions of such funds to the Holders of Securities
according to the provisions of this Indenture.

     

    (c) Subject
to the provisions of Section 7.01, Section 7.02, and the Intercreditor
Agreements, the Trustee may, in its sole discretion and without the consent of
the Holders, direct, on behalf of the Holders, the Notes Collateral Agent to
take all actions it deems necessary or appropriate in order to:

     

    (i) foreclose
upon or otherwise enforce any or all of the Liens;

     

    
      
        
          

          
            	
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    (ii) enforce
any of the terms of the Security Documents to which the Notes Collateral Agent
or Trustee is a party; or

     

    (iii) collect
and receive payment of any and all Obligations.

     

    Subject
to the Intercreditor Agreements, the Trustee is authorized and empowered to
institute and maintain, or direct the Notes Collateral Agent to institute and
maintain, such suits and proceedings as it may deem expedient to protect or
enforce the Liens or the Security Documents to which the Notes Collateral Agent
or Trustee is a party or to prevent any impairment of Collateral by any acts
that may be unlawful or in violation of the Security Documents to which the
Notes Collateral Agent or Trustee is a party or this Indenture, and such suits
and proceedings as the Trustee or the Notes Collateral Agent may deem expedient
to preserve or protect its interests and the interests of the Holders of
Securities in the Collateral, including power to institute and maintain suits or
proceedings to restrain the enforcement of or compliance with any legislative or
other governmental enactment, rule or order that may be unconstitutional or
otherwise invalid if the enforcement of, or compliance with, such enactment,
rule or order would impair the security interest hereunder or be prejudicial to
the interests of Holders, the Trustee or the Notes Collateral
Agent.

     

    SECTION
11.04. Release of
Liens.

     

    (a) Subject
to subsections (b) and (c) of this Section 11.04, Collateral may be released
from the Lien and security interest created by the Security Documents at any
time or from time to time in accordance with the provisions of the Security
Documents, the Intercreditor Agreements or as provided hereby. Upon the request
of the Issuer pursuant to an Officers’ Certificate and Opinion of Counsel
certifying that all conditions precedent hereunder have been met, the Issuer and
the Note Guarantors will be entitled to the release of assets included in the
Collateral from the Liens securing the Securities, and the Notes Collateral
Agent and the Trustee (if the Trustee is not then the Notes Collateral Agent)
shall release the same from such Liens at the Issuer’s sole cost and expense,
under any one or more of the following circumstances:

     

    (1) to enable
the Issuer or any Note Guarantor to consummate the disposition of such property
or assets to the extent not prohibited under Section 4.06;

     

    (2) in the
case of a Note Guarantor that is released from its Guarantee with respect to the
Securities, the release of the property and assets of such Note
Guarantor;

     

    (3) as
described under Article 9; or

     

    (4) to the
extent required by the terms of the Intercreditor Agreements.

     

    Upon the
receipt of an Officers’ Certificate from the Issuer, as described above, and any
necessary or proper instruments of termination, satisfaction or release prepared
by the Issuer, the Notes Collateral Agent shall execute, deliver or acknowledge
such instruments or releases to evidence the release of any Collateral permitted
to be released pursuant to this Indenture or the Security Documents or the
Intercreditor Agreements.

     

    (b) Except as
otherwise provided in the Intercreditor Agreements, no Collateral may be
released from the Lien and security interest created by the Security Documents
unless the Officers’ Certificate required by this Section 11.04 has been
delivered to the Notes Collateral Agent and the Trustee not less than five days
prior to the date of such release.

     

    (c) At any
time when a Default or Event of Default has occurred and is continuing and the
maturity of the Securities has been accelerated (whether by declaration or
otherwise) and the Trustee has delivered a notice of acceleration to the Notes
Collateral Agent, no release of Collateral pursuant to the provisions of this
Indenture or the Security Documents will be effective as against the Holders,
except as otherwise provided in the Intercreditor Agreements.

     

    
      
        
          

          
            	
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    (d) Notwithstanding
anything to the contrary provided in Section 4.12, 4.15, or Article 11 hereof,
or anything else to the contrary provided herein or in any of the Security
Documents or Intercreditor Agreements, the Collateral shall not include any
securities of any of the Issuer’s Subsidiaries to the extent that the pledge of
such securities results in the Issuer’s being required to file separate
financial statements of such Subsidiary with the SEC, but only to the extent
necessary to not be subject to such requirement and only for so long as such
requirement is in existence.  In the event that Rule 3-16 of
Regulation S-X under the Securities Act and the Exchange Act (or any successor
regulation) is amended, modified or interpreted by the SEC to require (or is
replaced with another rule or regulation, or any other law, rule or regulation
is adopted, which would require) the filing with the SEC (or any other
governmental agency) of separate financial statements of any Subsidiary of the
Issuer due to the fact that such Subsidiary’s securities secure the Securities,
then the securities of such Subsidiary will not be subject to the Liens securing
the Securities and the Obligations and will automatically be deemed not to be
part of the Collateral but only to the extent necessary not to be subject to
such requirement and only for so long as required to not be subject to the
requirement. In the event that Rule 3-16 of Regulation S-X under the Securities
Act and the Exchange Act (or any successor regulation) is amended, modified or
interpreted by the SEC to permit (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, which would permit)
such Subsidiary’s securities to secure the Securities in excess of the amount
then pledged without the filing with the SEC of separate financial statements of
such Subsidiary, then the securities of such Subsidiary will automatically be
deemed to be a part of the Collateral but only to the extent permitted to not be
subject to any such financial statement requirement.

     

    SECTION
11.05. Filing, Recording and
Opinions.

     

    (a) The
Issuer will comply with the provisions of TIA §314(b) and 314(d), in each case
following qualification of this Indenture pursuant to the TIA and except to the
extent not required as set forth in any SEC regulation or interpretation
(including any no-action letter issued by the Staff of the SEC, whether issued
to the Issuer or any other Person). Following such qualification, to the extent
the Issuer is required to furnish to the Trustee an Opinion of Counsel pursuant
to TIA §314(b)(2), the Issuer will furnish such opinion not more than 60 but not
less than 30 days prior to each September 30.

     

    Any
release of Collateral permitted by Section 11.04 hereof will be deemed not to
impair the Liens under this Indenture and the Security Documents in
contravention thereof and any person that is required to deliver an Officers’
Certificate or Opinion of Counsel pursuant to Section 314(d) of the TIA, shall
be entitled to rely upon the foregoing as a basis for delivery of such
certificate or opinion. The Trustee may, to the extent permitted by Section 7.01
and 7.02 hereof, accept as conclusive evidence of compliance with the foregoing
provisions the appropriate statements contained in such documents and Opinion of
Counsel.

     

    (b) If any
Collateral is released in accordance with this Indenture or any Security
Document and if the Issuer has delivered the certificates and documents required
by the Security Documents and Section 11.04, the Trustee will determine whether
it has received all documentation required by TIA § 314(d) in connection
with such release and, based on such determination and the Opinion of Counsel
delivered pursuant to Section 11.04, will, upon request, deliver a certificate
to the Notes Collateral Agent setting forth such determination.

     

    SECTION
11.06. [Intentionally
omitted].

     

    SECTION
11.07. Powers Exercisable by
Receiver or Trustee.  In
case the Collateral shall be in the possession of a receiver or trustee,
lawfully appointed, the powers conferred in this Article 11 upon the Issuer
or a Note Guarantor with respect to the release, sale or other disposition of
such property may be exercised by such receiver or trustee, and an instrument
signed by such receiver or trustee shall be deemed the equivalent of any similar
instrument of the Issuer or a Note Guarantor or of any officer or officers
thereof required by the provisions of this Article 11; and if the Trustee
shall be in the possession of the Collateral under any provision of this
Indenture, then such powers may be exercised by the Trustee.

     

    SECTION
11.08. Release Upon Termination of
the Issuer’s Obligations.  In
the event (i) that the Issuer delivers to the Trustee, in form and substance
acceptable to it, an Officers’ Certificate and Opinion of Counsel certifying
that all the obligations under this Indenture, the Securities and the Security
Documents have been satisfied and discharged by the payment in full of the
Issuer’s obligations under the Securities, this Indenture and the
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    Documents,
and all such obligations have been so satisfied, or (ii) a discharge, legal
defeasance or covenant defeasance of this Indenture occurs under Article 8,
the Trustee shall deliver to the Issuer and the Notes Collateral Agent a notice
stating that the Trustee, on behalf of the Holders, disclaims and gives up any
and all rights it has in or to the Collateral, and any rights it has under the
Security Documents, and upon receipt by the Notes Collateral Agent of such
notice, the Notes Collateral Agent shall be deemed not to hold a Lien in the
Collateral on behalf of the Trustee and shall, at the expense of the Issuer, do
or cause to be done all acts reasonably necessary to release such Lien as soon
as is reasonably practicable.

     

    SECTION
11.09. Designations.  For
purposes of the provisions hereof and the Intercreditor Agreements requiring the
Issuer to designate Indebtedness for the purposes of the terms First Priority
Lien Obligations and Future Second Lien Indebtedness (as defined in the Second
Priority Intercreditor Agreement) or any other such designations hereunder or
under the Intercreditor Agreements, any such designation shall be sufficient if
the relevant designation provides in writing that such First Priority Lien
Obligations or Future Second Lien Indebtedness are permitted under this
Indenture and is signed on behalf of the Issuer by an Officer and delivered to
the Trustee and the Notes Collateral Agent.

     

    SECTION
11.10. Taking and
Destruction.  Upon
any Taking or Destruction of any Collateral, all Net Insurance Proceeds received
by the Issuer or any Restricted Subsidiary shall be deemed Net Proceeds and
shall be applied in accordance with Section 4.06.

     

    ARTICLE
12

     

    GUARANTEES

     

    SECTION
12.01. Guarantees.

     

    (a) Each Note
Guarantor hereby jointly and severally, irrevocably and unconditionally
guarantees on a senior basis, as a primary obligor and not merely as a surety,
to each Holder, the Trustee and the Notes Collateral Agent and their successors
and assigns (i) the full and punctual payment when due, whether at Stated
Maturity, by acceleration, by redemption or otherwise, of all obligations of the
Issuer under this Indenture (including obligations to the Notes Collateral
Agent) and the Securities, whether for payment of principal of, premium, if any,
or interest on in respect of the Securities and all other monetary obligations
of the Issuer under this Indenture and the Securities and (ii) the full and
punctual performance within applicable grace periods of all other obligations of
the Issuer whether for fees, expenses, indemnification or otherwise under this
Indenture and the Securities (all the foregoing being hereinafter collectively
called the “Guaranteed Obligations”).  Each Note Guarantor further
agrees that the Guaranteed Obligations may be extended or renewed, in whole or
in part, without notice or further assent from each such Note Guarantor, and
that each such Note Guarantor shall remain bound under this Article 12
notwithstanding any extension or renewal of any Guaranteed
Obligation.

     

    (b) Each Note
Guarantor waives presentation to, demand of payment from and protest to the
Issuer of any of the Guaranteed Obligations and also waives notice of protest
for nonpayment.  Each Note Guarantor waives notice of any default
under the Securities or the Guaranteed Obligations.  The obligations
of each Note Guarantor hereunder shall not be affected by (i) the failure of any
Holder, the Trustee or the Notes Collateral Agent to assert any claim or demand
or to enforce any right or remedy against the Issuer or any other Person under
this Indenture, the Securities or any other agreement or otherwise; (ii) any
extension or renewal of this Indenture, the Securities or any other agreement;
(iii) any rescission, waiver, amendment or modification of any of the terms or
provisions of this Indenture, the Securities or any other agreement; (iv) the
release of any security held by the Notes Collateral Agent on behalf of each
Holder and the Trustee for the Guaranteed Obligations or any Note Guarantor; (v)
the failure of any Holder, the Trustee or the Notes Collateral Agent to exercise
any right or remedy against any other guarantor of the Guaranteed Obligations;
or (vi) any change in the ownership of such Note Guarantor, except as provided
in Section 12.02(b).

     

    (c) Each Note
Guarantor hereby waives any right to which it may be entitled to have its
obligations hereunder divided among the Note Guarantors, such that such Note
Guarantor’s obligations would be less than the full amount
claimed.  Each Note Guarantor hereby waives any right to which it may
be entitled to have the

     

    
      
        
          

          
            	
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    (d) assets of
the Issuer first be used and depleted as payment of the Issuer’s or such Note
Guarantor’s obligations hereunder prior to any amounts being claimed from or
paid by such Note Guarantor hereunder.  Each Note Guarantor hereby
waives any right to which it may be entitled to require that the Issuer be sued
prior to an action being initiated against such Note Guarantor.

     

    (e) Each Note
Guarantor further agrees that its Guarantee herein constitutes a guarantee of
payment, performance and compliance when due (and not a guarantee of collection)
and waives any right to require that any resort be had by any Holder, the
Trustee or the Notes Collateral Agent to any security held for payment of the
Guaranteed Obligations.

     

    (f) The
Guarantee of each Note Guarantor is, to the extent and in the manner set forth
in this Article 12, equal in right of payment to all existing and future Pari
Passu Indebtedness and senior in right of payment to all existing and future
Subordinated Indebtedness of the Issuer and is made subject to such provisions
of this Indenture.

     

    (g) Except as
expressly set forth in Sections 8.01(b), 12.02 and 12.06, the obligations of
each Note Guarantor hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, including any claim of waiver,
release, surrender, alteration or compromise, and shall not be subject to any
defense of setoff, counterclaim, recoupment or termination whatsoever or by
reason of the invalidity, illegality or unenforceability of the Guaranteed
Obligations or otherwise.  Without limiting the generality of the
foregoing, the obligations of each Note Guarantor herein shall not be discharged
or impaired or otherwise affected by the failure of any Holder, the Trustee or
the Notes Collateral Agent to assert any claim or demand or to enforce any
remedy under this Indenture, the Securities or any other agreement, by any
waiver or modification of any thereof, by any default, failure or delay, willful
or otherwise, in the performance of the obligations, or by any other act or
thing or omission or delay to do any other act or thing which may or might in
any manner or to any extent vary the risk of any Note Guarantor or would
otherwise operate as a discharge of any Note Guarantor as a matter of law or
equity.

     

    (h) Each Note
Guarantor agrees that its Guarantee shall remain in full force and effect until
payment in full of all the Guaranteed Obligations.  Each Note
Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any
part thereof, of principal of or interest on any Guaranteed Obligation is
rescinded or must otherwise be restored by any Holder, the Trustee or the Notes
Collateral Agent upon the bankruptcy or reorganization of the Issuer or
otherwise.

     

    (i) In
furtherance of the foregoing and not in limitation of any other right which
any Holder, the
Trustee or the Notes Collateral Agent has at law or in equity against any Note
Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal
of or interest on any Guaranteed Obligation when and as the same shall become
due, whether at maturity, by acceleration, by redemption or otherwise, or to
perform or comply with any other Guaranteed Obligation, each Note Guarantor
hereby promises to and shall, upon receipt of written demand by the Trustee,
forthwith pay, or cause to be paid, in cash, to the Trustee an amount equal to
the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii)
accrued and unpaid interest on such Guaranteed Obligations (but only to the
extent not prohibited by applicable law) and (iii) all other monetary
obligations of the Issuer to the Trustee.

     

    (j) Each Note
Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Trustee in respect of any Guaranteed Obligations guaranteed
hereby until payment in full of all Guaranteed Obligations. Each Note Guarantor
further agrees that, as between it, on the one hand, and the Trustee, on the
other hand, (i) the maturity of the Guaranteed Obligations guaranteed hereby may
be accelerated as provided in Article 6 for the purposes of any Guarantee
herein, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the Guaranteed Obligations guaranteed hereby,
and (ii) in the event of any declaration of acceleration of such Guaranteed
Obligations as provided in Article 6, such Guaranteed Obligations (whether or
not due and payable) shall forthwith become due and payable by such Note
Guarantor for the purposes of this Section 12.01.

     

    
      
        
          

          
            	
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    (k) Each Note
Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by the Notes Collateral Agent,
the Trustee or any Holder in enforcing any rights under this Section
12.01.

     

    (l) Upon
request of the Trustee, each Note Guarantor shall execute and deliver such
further instruments and do such further acts as may be reasonably necessary or
proper to carry out more effectively the purpose of this Indenture.

     

    SECTION
12.02. Limitation on
Liability.

     

    (a) Any term
or provision of this Indenture to the contrary notwithstanding, the maximum
aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Note
Guarantor shall not exceed the maximum amount that can be hereby guaranteed
without rendering this Indenture, as it relates to such Note Guarantor, voidable
under applicable law relating to fraudulent conveyance or fraudulent transfer or
similar laws affecting the rights of creditors generally.

     

    (b) A
Guarantee as to any Note Guarantor shall terminate and be of no further force or
effect and such Note Guarantor shall be deemed to be released from all
obligations under this Article 12 upon:

     

    (i) the sale,
disposition or other transfer (including through merger or consolidation) of the
Capital Stock (including any sale, disposition or other transfer following which
the applicable Note Guarantor is no longer a Restricted Subsidiary) of the
applicable Note Guarantor if such sale, disposition or other transfer is made in
compliance with this Indenture,

     

    (ii) the
Issuer designating such Note Guarantor to be an Unrestricted Subsidiary in
accordance with the provisions set forth under Section 4.04 and the definition
of “Unrestricted Subsidiary,”

     

    (iii) in the
case of any Restricted Subsidiary that after the Issue Date is required to
guarantee the Securities pursuant to the last sentence of Section 4.11, the
release or discharge of the guarantee by such Restricted Subsidiary of
Indebtedness which resulted in the obligation to guarantee the Securities,
and

     

    (iv) the
Issuer’s exercise of its defeasance option under Article 8, or if the Issuer’s
obligations under this Indenture are discharged in accordance with the terms of
this Indenture.

     

    In the
case of clause (b)(i) above, such Note Guarantor shall be released from its
guarantees, if any, of, and all pledges and security, if any, granted in
connection with, the Credit Agreements and any other Indebtedness of the Issuer
or any Restricted Subsidiary of the Issuer.

     

    A
Guarantee also shall be automatically released upon the applicable Subsidiary
ceasing to be a Subsidiary as a result of any foreclosure of any pledge or
security interest securing First Priority Lien Obligations, subject to, in each
case, the application of the proceeds of such foreclosure in the manner set
forth in the Security Documents or the Intercreditor Agreements or if such
Subsidiary is released from its guarantees of, and all pledges and security
interests granted in connection with, the Credit Agreements and any other
Indebtedness of the Issuer or any Restricted Subsidiary of the Issuer which
results in the obligation to guarantee the Securities.

     

    SECTION
12.03. Successors and
Assigns.  This
Article 12 shall be binding upon each Note Guarantor and its successors and
assigns and shall inure to the benefit of the successors and assigns of the
Notes Collateral Agent, the Trustee and the Holders and, in the event of any
transfer or assignment of rights by any Holder, the Trustee or the Notes
Collateral Agent, the rights and privileges conferred upon that party in this
Indenture and in the Securities shall automatically extend to and be vested in
such transferee or assignee, all subject to the terms and conditions of this
Indenture.

     

    SECTION
12.04. No Waiver.  Neither
a failure nor a delay on the part of either the Notes Collateral Agent or the
Holders or Trustee in exercising any right, power or privilege under this
Article 12 shall operate as a waiver thereof, nor shall a single or partial
exercise thereof preclude any other or further exercise of any
right,

     

    
      
        
          

          
            	
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    power or
privilege.  The rights, remedies and benefits of the Notes Collateral
Agent, the Holders and the Trustee herein expressly specified are cumulative and
not exclusive of any other rights, remedies or benefits which either may have
under this Article 12 at law, in equity, by statute or otherwise.

     

    SECTION
12.05. Modification.  No
modification, amendment or waiver of any provision of this Article 12, nor the
consent to any departure by any Note Guarantor therefrom, shall in any event be
effective unless the same shall be in writing and signed by the Trustee, and
then such waiver or consent shall be effective only in the specific instance and
for the purpose for which given.  No notice to or demand on any Note
Guarantor in any case shall entitle such Note Guarantor to any other or further
notice or demand in the same, similar or other circumstances.

     

    SECTION
12.06. Execution of Supplemental
Indenture for Future Note Guarantors.  Each
Subsidiary and other Person which is required to become a Note Guarantor
pursuant to Section 4.11 shall promptly execute and deliver to the Trustee a
supplemental indenture in the form of Exhibit D pursuant to which such
Subsidiary or other Person shall become a Note Guarantor under this Article 12
and shall guarantee the Guaranteed Obligations.  Concurrently with the
execution and delivery of such supplemental indenture, the Issuer shall deliver
to the Trustee an Opinion of Counsel and an Officers’ Certificate to the effect
that such supplemental indenture has been duly authorized, executed and
delivered by such Subsidiary or other Person and that, subject to the
application of bankruptcy, insolvency, moratorium, fraudulent conveyance or
transfer and other similar laws relating to creditors’ rights generally and to
the principles of equity, whether considered in a proceeding at law or in
equity, the Guarantee of such Note Guarantor is a valid and binding obligation
of such Note Guarantor, enforceable against such Note Guarantor in accordance
with its terms and/or to such other matters as the Trustee may reasonably
request.

     

    SECTION
12.07. Non-Impairment.  The
failure to endorse a Guarantee on any Security shall not affect or impair the
validity thereof.

     

    ARTICLE
13

     

    MISCELLANEOUS

     

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

     

    SECTION
13.02. Notices.

     

    (a) Any
notice or communication required or permitted hereunder shall be in writing and
delivered in person, via facsimile or mailed by first-class mail addressed as
follows:

     

    if to the
Issuer or a Note Guarantor:

     

    

     

    Berry
Plastics Corporation

    101
Oakley Street

    Evansville,
Indiana  47710

    Attention
of:  General Counsel

    Facsimile:  (812)
424-0128

     

    
      
        
          

          
            	
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    if to the
Trustee:

     

    

     

    Wells
Fargo Bank, National Association

    Corporate
Trust Services

    213 Court
Street, Suite 703

    Middletown,
CT  06457

    Facsimile:  860-704-6219

    if to the
Notes Collateral Agent:

     

    

     

    Wells
Fargo Bank, National Association

    Corporate
Trust Services

    213 Court
Street, Suite 703

    Middletown,
CT  06457

    Facsimile:  860-704-6219

     

    The
Issuer, the Trustee or the Notes Collateral Agent by notice to the other may
designate additional or different addresses for subsequent notices or
communications.

     

    (b) Any
notice or communication mailed to a Holder shall be mailed, first class mail, or
sent electronically to the Holder at the Holder’s address as it appears on the
registration books of the Registrar and shall be sufficiently given if so mailed
within the time prescribed.

     

    (c) Failure
to mail a notice or communication to a Holder or any defect in it shall not
affect its sufficiency with respect to other Holders.  If a notice or
communication is mailed in the manner provided above, it is duly given, whether
or not the addressee receives it, except that notices to the Trustee are
effective only if received.

     

    SECTION
13.03. Communication by the Holders
with Other Holders.  The
Holders may communicate pursuant to Section 312(b) of the TIA with other Holders
with respect to their rights under this Indenture or the
Securities.  The Issuer, the Trustee, the Registrar and other Persons
shall have the protection of Section 312(c) of the TIA.

     

    SECTION
13.04. Certificate and Opinion as
to Conditions Precedent.  Upon
any request or application by the Issuer to the Trustee to take or refrain from
taking any action under this Indenture, the Issuer shall furnish to the Trustee
at the request of the Trustee:

     

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

     

    (b) an
Opinion of Counsel in form reasonably satisfactory to the Trustee stating that,
in the opinion of such counsel, all such conditions precedent have been complied
with.

     

    SECTION
13.05. Statements Required in
Certificate or Opinion.  Each
certificate or opinion with respect to compliance with a covenant or condition
provided for in this Indenture (other than pursuant to Section 4.09) shall
include:

     

    (a) a
statement that the individual making such certificate or opinion has read such
covenant or condition;

     

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

     

    
      
        
          

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

     

    (d) a
statement as to whether or not, in the opinion of such individual, such covenant
or condition has been complied with; provided, however, that with respect to
matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or
certificates of public officials.

     

    SECTION
13.06. When Securities
Disregarded.  In
determining whether the Holders of the required principal amount of Securities
have concurred in any direction, waiver or consent, Securities owned by the
Issuer, any Note Guarantor or by any Person directly or indirectly controlling
or controlled by or under direct or indirect common control with the Issuer or
any Note Guarantor shall be disregarded and deemed not to be outstanding, except
that, for the purpose of determining whether the Trustee shall be protected in
relying on any such direction, waiver or consent, only Securities which the
Trustee knows are so owned shall be so disregarded.  Subject to the
foregoing, only Securities  outstanding at the time shall be
considered in any such determination.

     

    SECTION
13.07. Rules by Trustee, Paying
Agent and Registrar.  The
Trustee may make reasonable rules for action by or a meeting of the
Holders.  The Registrar and a Paying Agent may make reasonable rules
for their functions.

     

    SECTION
13.08. Legal
Holidays.  If
a payment date is not a Business Day, payment shall be made on the next
succeeding day that is a Business Day, and no interest shall accrue on any
amount that would have been otherwise payable on such payment date if it were a
Business Day for the intervening period.  If a regular record date is
not a Business Day, the record date shall not be affected.

     

    SECTION
13.09. GOVERNING
LAW.  THIS INDENTURE AND THE SECURITIES
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

     

    SECTION
13.10. No Recourse Against
Others.  No
director, officer, employee, manager, incorporator or holder of any Equity
Interests in the Issuer or of any Note Guarantor or any direct or indirect
parent corporation, as such, shall have any liability for any obligations of the
Issuer or the Note Guarantors under the Securities or this Indenture or for any
claim based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Securities by accepting a Security waives
and releases all such liability.  The waiver and release are part of
the consideration for issuance of the Securities.

     

    SECTION
13.11. Successors.  All
agreements of the Issuer and each Note Guarantor in this Indenture and the
Securities shall bind its successors.  All agreements of the Trustee
in this Indenture shall bind its successors.

     

    SECTION
13.12. Multiple
Originals.  The
parties may sign any number of copies of this Indenture.  Each signed
copy shall be an original, but all of them together represent the same
agreement.  One signed copy is enough to prove this
Indenture.

     

    SECTION
13.13. Table of Contents;
Headings.  The
table of contents, cross-reference sheet and headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference only,
are not intended to be considered a part hereof and shall not modify or restrict
any of the terms or provisions hereof.

     

    SECTION
13.14. Indenture
Controls.  If
and to the extent that any provision of the Securities limits, qualifies or
conflicts with a provision of this Indenture, such provision of this Indenture
shall control.

     

    SECTION
13.15. Severability.  In
case any provision in this Indenture shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby and such provision shall be
ineffective only to the extent of such invalidity, illegality or
unenforceability.

     

    
      
        
          

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

     

    
      	
               
      

            	
              Very
      truly yours,

            

    

     

    BERRY
PLASTICS CORPORATION

    

    By:
_________________________________

          Name:

          Title:

    

    BERRY
PLASTICS TECHNICAL SERVICES, INC.

    BERRY
STERLING CORPORATION

    CARDINAL
PACKAGING, INC.

    CPI
HOLDING CORPORATION

    KNIGHT
PLASTICS, INC.

    PACKERWARE
CORPORATION

    PESCOR,
INC.

    VENTURE
PACKAGING, INC.

    VENTURE
PACKAGING MIDWEST, INC.

    BERRY
PLASTICS ACQUISITION CORPORATION III

    BERRY
PLASTICS ACQUISITION CORPORATION V

    BERRY
PLASTICS OPCO, INC.

    BERRY
PLASTICS ACQUISITION CORPORATION VIII

    BERRY
PLASTICS ACQUISITION CORPORATION IX

    BERRY
PLASTICS ACQUISITION CORPORATION X

    BERRY
PLASTICS ACQUISITION CORPORATION XI

    BERRY
PLASTICS ACQUISITION CORPORATION XII

    BERRY
PLASTICS ACQUISITION CORPORATION XIII

    ROLLPAK
ACQUISITION CORPORATION

    ROLLPAK
CORPORATION

    CAPTIVE
HOLDINGS, INC.

    CAPTIVE
PLASTICS, INC.

    CAPLAS
NEPTUNE, LLC

    CAPLAS
LLC

    

    By:
_____________________________________

    Name:

    Title:

    

    

    
      
        
          
            	
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    COVALENCE
SPECIALTY ADHESIVES LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole
member

    

    By:
_____________________________________

    Name:

    Title:

    

    COVALENCE
SPECIALTY COATINGS LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole
member

    

    By:
_____________________________________

    Name:

    Title:

    

    AEROCON,
LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_____________________________________

    Name:

    Title:

    

    BERRY
IOWA, LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_____________________________________

    Name:

    Title:

    

    BERRY
PLASTICS DESIGN, LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_________________________________

           Name:

           Title:

    

    
      
        
          

          
            	
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    POLY-SEAL,
LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_________________________________

           Name:

           Title:

    

    KERR
GROUP, LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_________________________________

           Name:

           Title:

    

    SAFFRON
ACQUISITION, LLC

    By: KERR
GROUP, LLC,

      its sole member and
manager

        By:
BERRY PLASTICS CORPORATION,

          its sole
member and manager

    

    By:
_________________________________

           Name:

           Title:

    

    SUN COAST
INDUSTRIES, LLC

    By:
SAFFRON ACQUISITION, LLC,

      its sole member and
manager

      By:
KERR GROUP, LLC,

        its sole
member and manager

        By:
BERRY PLASTICS CORPORATION,

          its sole
member and manager

    

    By:
_________________________________

           Name:

           Title:

    

    

    
      
        
          

          
            	
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    LANDIS
PLASTICS, LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole member and
manager

    

    By:
_________________________________

           Name:

           Title:

    

    SETCO,
LLC

    By: KERR
GROUP, LLC,

      its sole
member

        By:
BERRY PLASTICS CORPORATION,

          its sole
member and manager

    

    By:
________________________________

           Name:

           Title:

    

    TUBED
PRODUCTS, LLC

    By: KERR
GROUP, LLC

      its sole
member

        By:
BERRY PLASTICS CORPORATION,

          its sole
member and manager

    

    By:
________________________________

           Name:

           Title:

    

    GRAFCO
INDUSTRIES LIMITED PARTNERSHIP

    By:
Caplas Neptune, LLC

      its General
Partner

    

    By:
________________________________

           Name:

           Title:

    

    BERRY
PLASTICS ACQUISITION CORPORATION XV,

    LLC

    By: BERRY
PLASTICS CORPORATION,

      its sole
member

    

    By:
_________________________________

           Name:

           Title:

    

     

    

    

     

    
      
        
          

          
            	
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    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

     

    as
Trustee

     

     

    
      	
               
      

            	
              By:

            	 	 

    

    
      	
               
      

            	
              Name:

            

    

    
      	
               
      

            	
              Title:

            

    

     

    
      
        
          
            	
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    APPENDIX
A

     

    PROVISIONS RELATING TO
INITIAL SECURITIES, ADDITIONAL SECURITIES AND EXCHANGE
SECURITIES

     

    1.           Definitions.

     

    1.1           Definitions.

     

    For the
purposes of this Appendix A the following terms shall have the meanings
indicated below:

     

    “Additional
Interest” has the meaning set forth in the Registration Agreement.

     

    “Definitive
Security” means a certificated Initial Security or Exchange Security (bearing
the Restricted Securities Legend if the transfer of such Security is restricted
by applicable law) that does not include the Global Securities
Legend.

     

    “Depository”
means The Depository Trust Company, its nominees and their respective
successors.

     

    “Global
Securities Legend” means the legend set forth under that caption in the
applicable Exhibit to this Indenture.

     

    “IAI”
means an institutional “accredited investor” as described in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act.

     

    “Initial
Purchasers” means Banc of America Securities LLC, Goldman Sachs & Co. and
Lehman Brothers Inc. and such other initial purchasers party to the Purchase
Agreement entered into in connection with the offer and sale of the
Securities.

     

    “Purchase
Agreement” means (a) the Purchase Agreement dated April 16, 2008, among the
Issuer, certain guarantors party thereto and the Initial Purchasers and, upon
execution of the joinder thereto on the date hereof, certain guarantors and (b)
any other similar Purchase Agreement relating to Additional
Securities.

     

    “QIB”
means a “qualified institutional buyer” as defined in Rule 144A.

     

    “Registered
Exchange Offer” means the offer by the Company, pursuant to the Registration
Agreement, to certain Holders of Initial Securities, to issue and deliver to
such Holders, in exchange for their Initial Securities, a like aggregate
principal amount of Exchange Securities registered under the Securities
Act.

     

    “Registration
Agreement” means (a) the Registration Rights Agreement dated as of April 21,
2008, among the Issuer, the Note Guarantors and the Initial Purchasers relating
to the Securities and (b) any other similar registration rights agreement
relating to Additional Securities.

     

    “Regulation
S” means Regulation S under the Securities Act.

     

    “Regulation
S Securities” means all Initial Securities offered and sold outside the United
States in reliance on Regulation S.

     

    “Restricted
Period,” with respect to any Securities, means the period of 40 consecutive days
beginning on and including the later of (a) the day on which such Securities are
first offered to persons other than distributors (as defined in Regulation S
under the Securities Act) in reliance on Regulation S, notice of which day shall
be promptly given by the Company to the Trustee, and (b) the Issue Date, and
with respect to any Additional Securities that are Transfer Restricted
Securities, it means the comparable period of 40 consecutive days.

     

    
      
        
          

          
            	
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    “Restricted
Securities Legend” means the legend set forth in Section 2.2(f)(i)
herein.

     

     “Rule
144A” means Rule 144A under the Securities Act.

     

    “Rule
144A Securities” means all Initial Securities offered and sold to QIBs in
reliance on Rule 144A.

     

    “Rule
501” means Rule 501(a)(1), (2), (3) or (7) under the Securities
Act.

     

    “Securities
Custodian” means the custodian with respect to a Global Security (as appointed
by the Depository) or any successor person thereto, who shall initially be the
Trustee.

     

    “Shelf
Registration Statement” means a registration statement filed by the Company in
connection with the offer and sale of Initial Securities pursuant to the
Registration Agreement.

     

    “Transfer
Restricted Securities” means Definitive Securities and any other Securities that
bear or are required to bear or are subject to the Restricted Securities
Legend.

     

    “Unrestricted
Definitive Security” means Definitive Securities and any other Securities that
are not required to bear, or are not subject to, the Restricted Securities
Legend.

     

    “Unrestricted
Global Security” means Global Securities and any other Securities that are not
required to bear, or are not subject to, the Restricted Securities
Legend.

     

    1.2           Other
Definitions.

     

    
      	
              Term:

            	
              Defined in Section:

            
	
              Agent
      Members

            	
              2.1(b)

            
	
              Clearstream

            	
              2.1(b)

            
	
              Euroclear

            	
              2.1(b)

            
	
              Global
      Securities

            	
              2.1(b)

            
	
              Regulation
      S Global Securities

            	
              2.1(b)

            
	
              Regulation
      S Permanent Global Security

            	
              2.1(b)

            
	
              Regulation
      S Temporary Global Security

            	
              2.1(b)

            
	
              Rule
      144A Global Securities

            	
              2.1(b)

            

    

    

    2.           The
Securities.

     

    2.1           Form and Dating; Global
Securities.

     

    (a)           The
Initial Securities issued on the date hereof will be (i) offered and sold by the
Issuer pursuant to the Purchase Agreement and (ii) resold, initially only to (1)
QIBs in reliance on Rule 144A and (2) Persons other than U.S. Persons (as
defined in Regulation S) in reliance on Regulation S.  Such Initial
Securities may thereafter be transferred to, among others, QIBs, purchasers in
reliance on Regulation S and, except as set forth below, IAIs in accordance with
Rule 501.  Additional Securities offered after the date hereof may be
offered and sold by the Issuer from time to time pursuant to one or more
purchase agreements in accordance with applicable law.

     

    (b)           Global
Securities.  (i)  Rule 144A Securities initially
shall be represented by one or more Securities in definitive, fully registered,
global form without interest coupons (collectively, the “Rule 144A Global
Securities”).

     

    Regulation
S Securities initially shall be represented by one or more Securities in fully
registered, global form without interest coupons (collectively, the “Regulation
S Temporary Global Security” and, together with the Regulation S Permanent
Global Security (defined below), the “Regulation S Global Securities”),
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    shall be
registered in the name of the Depository or the nominee of the Depository for
the accounts of designated agents holding on behalf of Euroclear Bank S.A./N.V.,
as operator of the Euroclear system (“Euroclear”) or Clearstream Banking,
Société Anonyme (“Clearstream”).

     

    The
Restricted Period shall be terminated upon the receipt by the Trustee of: (1) a
written certificate from the Depository, together with copies of certificates
from Euroclear and Clearstream certifying that they have received certification
of non-United States beneficial ownership of 100% of the aggregate principal
amount of the Regulation S Temporary Global Security (except to the extent of
any beneficial owners thereof who acquired an interest therein during the
Restricted Period pursuant to another exemption from registration under the
Securities Act and who shall take delivery of a beneficial ownership interest in
a 144A Global Security bearing a Private Placement Legend, all as contemplated
by this Appendix A); and (2) an Officers’ Certificate from the
Company.

     

    Following
the termination of the Restricted Period, beneficial interests in the Regulation
S Temporary Global Security shall be exchanged for beneficial interests in a
permanent Global Security (the “Regulation S Permanent Global Security”)
pursuant to the applicable procedures of the
Depository.  Simultaneously with the authentication of the Regulation
S Permanent Global Security, the Trustee shall cancel the Regulation S Temporary
Global Security.  The aggregate principal amount of the Regulation S
Temporary Global Security and the Regulation S Permanent Global Security may
from time to time be increased or decreased by adjustments made on the records
of the Trustee and the Depository or its nominee, as the case may be, in
connection with transfers of interest as hereinafter provided.

     

    The
provisions of the “Operating Procedures of the Euroclear System” and “Terms and
Conditions Governing Use of Euroclear” and the “General Terms and Conditions of
Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable
to transfers of beneficial interests in the Regulation S Temporary Global
Security and the Regulation S Permanent Global Security that are held by
Participants through Euroclear or Clearstream.

     

    The term
“Global Securities” means the Rule 144A Global Securities and the Regulation S
Global Securities.  The Global Securities shall bear the Global
Security Legend.  The Global Securities initially shall (i) be
registered in the name of the Depository or the nominee of such Depository, in
each case for credit to an account of an Agent Member, (ii) be delivered to the
Trustee as custodian for such Depository and (iii) bear the Restricted
Securities Legend.

     

    Members
of, or direct or indirect participants in, the Depository shall have no rights
under this Indenture with respect to any Global Security held on their behalf by
the Depository, or the Trustee as its custodian, or under the Global
Securities.  The Depository may be treated by the Issuer, the Trustee
and any agent of the Issuer or the Trustee as the absolute owner of the Global
Securities for all purposes whatsoever.  Notwithstanding the
foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of
the Issuer or the Trustee from giving effect to any written certification, proxy
or other authorization furnished by the Depository, or impair, as between the
Depository and its Agent Members, the operation of customary practices governing
the exercise of the rights of a Holder of any Security.

     

                              (ii)Transfers of Global Securities shall
be limited to transfer in whole, but not in part, to the Depository, its
successors or their respective nominees.  Interests of beneficial
owners in the Global Securities may be transferred or exchanged for Definitive
Securities only in accordance with the applicable rules and procedures of the
Depository and the provisions of Section 2.2.  In addition, a Global
Security shall be exchangeable for Definitive Securities if (x) the Depository
(1) notifies the Company that it is unwilling or unable to continue as
depository for such Global Security and the Company thereupon fails to appoint a
successor depository within 90 days or (2) has ceased to be a clearing
agency registered under the Exchange Act or (y) there shall have occurred and be
continuing an Event of Default with respect to such Global Security; provided that in no event
shall the Regulation S Temporary Global Security be exchanged by the Issuer for
Definitive Securities prior to (x) the expiration of the Restricted Period and
(y) the receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) under the Securities Act.  In all cases, Definitive
Securities delivered in exchange for any Global Security or beneficial interests
therein shall be registered in the names, and issued in any approved
denominations, requested by or on behalf of the Depository in accordance with
its customary procedures.

     

    
      
        
          

          
            	
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                              (iii)In connection with the transfer of a
Global Security as an entirety to beneficial owners pursuant to subsection (i)
of this Section 2.1(b), such Global Security shall be deemed to be surrendered
to the Trustee for cancellation, and the Company shall execute, and the Trustee
shall authenticate and make available for delivery, to each beneficial owner
identified by the Depository in writing in exchange for its beneficial interest
in such Global Security, an equal aggregate principal amount of Definitive
Securities of authorized denominations.

     

                              (iv)Any Transfer Restricted Security
delivered in exchange for an interest in a Global Security pursuant to Section
2.2 shall, except as otherwise provided in Section 2.2, bear the Restricted
Securities Legend.

     

                              (v)Notwithstanding the foregoing,
through the Restricted Period, a beneficial interest in such Regulation S Global
Security may be held only through Euroclear or Clearstream unless delivery is
made in accordance with the applicable provisions of Section 2.2.

     

                              (vi)The Holder of any Global Security may
grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which
a Holder is entitled to take under this Indenture or the
Securities.

     

    2.2           Transfer and
Exchange.

     

    (a)           Transfer and Exchange of
Global Securities.  A Global Security may not be transferred as
a whole except as set forth in Section 2.1(b).  Global Securities will
not be exchanged by the Issuer for Definitive Securities except under the
circumstances described in Section 2.1(b)(ii).  Global Securities also
may be exchanged or replaced, in whole or in part, as provided in Sections 2.08
and 2.10 of this Indenture.  Beneficial interests in a Global Security
may be transferred and exchanged as provided in Section 2.2(b) or
2.2(g).

     

    (b)           Transfer and Exchange of
Beneficial Interests in Global Securities.  The transfer and
exchange of beneficial interests in the Global Securities shall be effected
through the Depository, in accordance with the provisions of this Indenture and
the applicable rules and procedures of the Depository.  Beneficial
interests in Restricted Global Securities shall be subject to restrictions on
transfer comparable to those set forth herein to the extent required by the
Securities Act.  Beneficial interests in Global Securities shall be
transferred or exchanged only for beneficial interests in Global
Securities.  Transfers and exchanges of beneficial interests in the
Global Securities also shall require compliance with either subparagraph (i) or
(ii) below, as applicable, as well as one or more of the other following
subparagraphs, as applicable:

     

                    (i)Transfer of Beneficial
Interests in the Same Global Security.  Beneficial interests in
any Restricted Global Security may be transferred to Persons who take delivery
thereof in the form of a beneficial interest in the same Restricted Global
Security in accordance with the transfer restrictions set forth in the
Restricted Securities Legend; provided, however, that prior to the
expiration of the Restricted Period, transfers of beneficial interests in a
Regulation S Global Security may not be made to a U.S. Person or for the account
or benefit of a U.S. Person (other than an Initial Purchaser).  A
beneficial interest in an Unrestricted Global Security may be transferred to
Persons who take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Security.  No written orders or instructions shall
be required to be delivered to the Registrar to effect the transfers described
in this Section 2.2(b)(i).

     

                    (ii)All Other Transfers and
Exchanges of Beneficial Interests in Global Securities.  In
connection with all transfers and exchanges of beneficial interests in any
Global Security that is not subject to Section 2.2(b)(i), the transferor of such
beneficial interest must deliver to the Registrar (1) a written order from an
Agent Member given to the Depository in accordance with the applicable rules and
procedures of the Depository directing the Depository to credit or cause to be
credited a beneficial interest in another Global Security in an amount equal to
the beneficial interest to be transferred or exchanged and (2) instructions
given in accordance with the applicable rules and procedures of the Depository
containing information regarding the Agent Member account to be credited with
such increase.  Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Securities contained in
this Indenture and the Securities or otherwise applicable under the Securities
Act, the Trustee shall adjust the principal amount of the relevant Global
Security pursuant to Section 2.2(g).

     

    
      
        
          

          
            	
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                    (iii)Transfer of Beneficial
Interests to Another Restricted Global Security.  A beneficial
interest in a Transfer Restricted Global Security may be transferred to a Person
who takes delivery thereof in the form of a beneficial interest in another
Transfer Restricted Global Security if the transfer complies with the
requirements of Section 2.2(b)(ii) above and the Registrar receives the
following:

     

    (A)           if
the transferee will take delivery in the form of a beneficial interest in a Rule
144A Global Security, then the transferor must deliver a certificate in the form
attached to the applicable Security; and

     

    (B)           if
the transferee will take delivery in the form of a beneficial interest in a
Regulation S Global Security, then the transferor must deliver a certificate in
the form attached to the applicable Security.

     

                    (iv)Transfer and Exchange of
Beneficial Interests in a Transfer Restricted Global Security for Beneficial
Interests in an Unrestricted Global Security.  A beneficial
interest in a Transfer Restricted Global Security may be exchanged by any holder
thereof for a beneficial interest in an Unrestricted Global Security or
transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Security if the exchange or transfer complies
with the requirements of Section 2.2(b)(ii) above and the Registrar receives the
following:

     

    (A)           if
the holder of such beneficial interest in a Restricted Global Security proposes
to exchange such beneficial interest for a beneficial interest in an
Unrestricted Global Security, a certificate from such holder in the form
attached to the applicable Security; or

     

    (B)           if
the holder of such beneficial interest in a Restricted Global Security proposes
to transfer such beneficial interest to a Person who shall take delivery thereof
in the form of a beneficial interest in an Unrestricted Global Security, a
certificate from such holder in the form attached to the applicable
Security,

     

    and, in
each such case, if the Company or the Registrar so requests or if the applicable
rules and procedures of the Depository so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Restricted Securities Legend are no longer
required in order to maintain compliance with the Securities Act.  If
any such transfer or exchange is effected pursuant to this subparagraph (iv) at
a time when an Unrestricted Global Security has not yet been issued, the Issuer
shall issue and, upon receipt of an written order of the Company in the form of
an Officers’ Certificate in accordance with Section 2.01, the Trustee shall
authenticate one or more Unrestricted Global Securities in an aggregate
principal amount equal to the aggregate principal amount of beneficial interests
transferred or exchanged pursuant to this subparagraph (iv).

     

                    (v)Transfer and Exchange of
Beneficial Interests in an Unrestricted Global Security for Beneficial Interests
in a Restricted Global Security.  Beneficial interests in an
Unrestricted Global Security cannot be exchanged for, or transferred to Persons
who take delivery thereof in the form of, a beneficial interest in a Restricted
Global Security.

     

    (c)           Transfer and Exchange of
Beneficial Interests in Global Securities for Definitive
Securities.  A beneficial interest in a Global Security may not
be exchanged for a Definitive Security except under the circumstances described
in Section 2.1(b)(ii).  A beneficial interest in a Global Security may
not be transferred to a Person who takes delivery thereof in the form of a
Definitive Security except under the circumstances described in Section
2.1(b)(ii).  In any case, beneficial interests in Global Securities
shall be transferred or exchanged only for Definitive Securities.

     

    (d)           Transfer and Exchange of
Definitive Securities for Beneficial Interests in Global
Securities.  Transfers and exchanges of beneficial interests in
the Global Securities also shall require compliance with either subparagraph
(i), (ii) or (ii) below, as applicable:

     

    
      
        
          

          
            	
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    (i)           Transfer Restricted
Securities to Beneficial Interests in Restricted Global
Securities.  If any Holder of a Transfer Restricted Security
proposes to exchange such Transfer Restricted Security for a beneficial interest
in a Restricted Global Security or to transfer such Transfer Restricted Security
to a Person who takes delivery thereof in the form of a beneficial interest in a
Restricted Global Security, then, upon receipt by the Registrar of the following
documentation:

     

    (A)           if
the Holder of such Transfer Restricted Security proposes to exchange such
Transfer Restricted Security for a beneficial interest in a Restricted Global
Security, a certificate from such Holder in the form attached to the applicable
Security;

     

    (B)           if
such Transfer Restricted Security is being transferred to a Qualified
Institutional Buyer in accordance with Rule 144A under the Securities Act, a
certificate from such Holder in the form attached to the applicable
Security;

     

    (C)           if
such Transfer Restricted Security is being transferred to a Non-U.S. Person in
an offshore transaction in accordance with Rule 903 or Rule 904 under the
Securities Act, a certificate from such Holder in the form attached to the
applicable Security;

     

    (D)           if
such Transfer Restricted Security is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule
144 under the Securities Act, a certificate from such Holder in the form
attached to the applicable Security;

     

    (E)           if
such Transfer Restricted Security is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (B)
through (D) above, a certificate from such Holder in the form attached to the
applicable Security, including the certifications, certificates and Opinion of
Counsel, if applicable; or

     

    (F)           if
such Transfer Restricted Security is being transferred to the Company or a
Subsidiary thereof, a certificate from such Holder in the form attached to the
applicable Security;

     

    the
Trustee shall cancel the Transfer Restricted Security, and increase or cause to
be increased the aggregate principal amount of  the appropriate
Restricted Global Security.

     

                    (ii)Transfer Restricted
Securities to Beneficial Interests in Unrestricted Global
Securities.  A Holder of a Transfer Restricted Security may
exchange such Transfer Restricted Definitive Security for a beneficial interest
in an Unrestricted Global Security or transfer such Transfer Restricted Security
to a Person who takes delivery thereof in the form of a beneficial interest in
an Unrestricted Global Security only if the Registrar receives the
following:

     

    (A)           if
the Holder of such Transfer Restricted Security proposes to exchange such
Transfer Restricted Security for a beneficial interest in an Unrestricted Global
Security, a certificate from such Holder in the form attached to the applicable
Security; or

     

    (B)           if
the Holder of such Transfer Restricted Securities proposes to transfer such
Transfer Restricted Security to a Person who shall take delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security, a certificate
from such Holder in the form attached to the applicable Security,

     

    and, in
each such case, if the Company or the Registrar so requests or if the applicable
rules and procedures of the Depository so require, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Restricted Securities Legend are no longer
required in order to maintain compliance with the Securities
Act.  Upon satisfaction of the conditions of this subparagraph (ii),
the Trustee shall cancel the Transfer Restricted Securities and increase or
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    cipal
amount of the Unrestricted Global Security.  If any such transfer or
exchange is effected pursuant to this subparagraph (ii) at a time when an
Unrestricted Global Security has not yet been issued, the Company shall issue
and, upon receipt of a written order of the Company in the form of an Officers’
Certificate, the Trustee shall authenticate one or more Unrestricted Global
Securities in an aggregate principal amount equal to the aggregate principal
amount of Transfer Restricted Securities transferred or exchanged pursuant to
this subparagraph (ii).

     

                    (iii)Unrestricted Definitive
Securities to Beneficial Interests in Unrestricted Global
Securities.  A Holder of an Unrestricted Definitive Security
may exchange such Unrestricted Definitive Security for a beneficial interest in
an Unrestricted Global Security or transfer such Unrestricted Definitive
Security to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Security at any time.  Upon receipt
of a request for such an exchange or transfer, the Trustee shall cancel the
applicable Unrestricted Definitive Security and increase or cause to be
increased the aggregate principal amount of one of the Unrestricted Global
Securities.  If any such transfer or exchange is effected pursuant to
this subparagraph (iii) at a time when an Unrestricted Global Security has not
yet been issued, the Issuer shall issue and, upon receipt of an written order of
the Company in the form of an Officers’ Certificate, the Trustee shall
authenticate one or more Unrestricted Global Securities in an aggregate
principal amount equal to the aggregate principal amount of Unrestricted
Definitive Securities transferred or exchanged pursuant to this subparagraph
(iii).

     

                    (iv)Unrestricted Definitive
Securities to Beneficial Interests in Restricted Global
Securities.  An Unrestricted Definitive Security cannot be
exchanged for, or transferred to a Person who takes delivery thereof in the form
of, a beneficial interest in a Restricted Global Security.

     

    (e)           Transfer and Exchange of
Definitive Securities for Definitive Securities.  Upon request
by a Holder of Definitive Securities and such Holder’s compliance with the
provisions of this Section 2.2(e), the Registrar shall register the transfer or
exchange of Definitive Securities.  Prior to such registration of
transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Definitive Securities duly endorsed or accompanied by a written
instruction of transfer in form satisfactory to the Registrar duly executed by
such Holder or by its attorney, duly authorized in writing.  In
addition, the requesting Holder shall provide any additional certifications,
documents and information, as applicable, required pursuant to the following
provisions of this Section 2.2(e).

     

                    (i)Transfer Restricted
Securities to Transfer Restricted Securities.  A Transfer
Restricted Security may be transferred to and registered in the name of a Person
who takes delivery thereof in the form of a Transfer Restricted Security if the
Registrar receives the following:

     

    (A)           if
the transfer will be made pursuant to Rule 144A under the Securities Act, then
the transferor must deliver a certificate in the form attached to the applicable
Security;

     

    (B)           if
the transfer will be made pursuant to Rule 903 or Rule 904 under the Securities
Act, then the transferor must deliver a certificate in the form attached to the
applicable Security;

     

    (C)           if
the transfer will be made pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144 under the
Securities Act, a certificate in the form attached to the applicable
Security;

     

    (D)           if
the transfer will be made to an IAI in reliance on an exemption from the
registration requirements of the Securities Act other than those listed in
subparagraphs (A) through (D) above, a certificate in the form attached to the
applicable Security; and

     

    (E)           if
such transfer will be made to the Company or a Subsidiary thereof, a certificate
in the form attached to the applicable Security.

     

    
      
        
          

          
            	
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    (ii)           Transfer Restricted
Securities to Unrestricted Definitive Securities.  Any Transfer
Restricted Security may be exchanged by the Holder thereof for an Unrestricted
Definitive Security or transferred to a Person who takes delivery thereof in the
form of an Unrestricted Definitive Security if the Registrar receives the
following:

     

    (1)           if
the Holder of such Transfer Restricted Security proposes to exchange such
Transfer Restricted Security for an Unrestricted Definitive Security, a
certificate from such Holder in the form attached to the applicable Security;
or

     

    (2)           if
the Holder of such Transfer Restricted Security proposes to transfer such
Securities to a Person who shall take delivery thereof in the form of an
Unrestricted Definitive Security, a certificate from such Holder in the form
attached to the applicable Security,

     

    and, in
each such case, if the Registrar so requests, an Opinion of Counsel in form
reasonably acceptable to the Company to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Restricted Securities Legend are no longer
required in order to maintain compliance with the Securities Act.

     

                    (iii)Unrestricted Definitive
Securities to Unrestricted Definitive Securities.  A Holder of
an Unrestricted Definitive Security may transfer such Unrestricted Definitive
Securities to a Person who takes delivery thereof in the form of an Unrestricted
Definitive Security at any time.  Upon receipt of a request to
register such a transfer, the Registrar shall register the Unrestricted
Definitive Securities pursuant to the instructions from the Holder
thereof.

     

                    (iv)Unrestricted Definitive
Securities to Transfer Restricted Securities.  An Unrestricted
Definitive Security cannot be exchanged for, or transferred to a Person who
takes delivery thereof in the form of, a Transfer Restricted
Security.

     

    At such
time as all beneficial interests in a particular Global Security have been
exchanged for Definitive Securities or a particular Global Security has been
redeemed, repurchased or canceled in whole and not in part, each such Global
Security shall be returned to or retained and canceled by the Trustee in
accordance with Section 2.11.  At any time prior to such cancellation,
if any beneficial interest in a Global Security is exchanged for or transferred
to a Person who will take delivery thereof in the form of a beneficial interest
in another Global Security or for Definitive Securities, the principal amount of
Securities represented by such Global Security shall be reduced accordingly and
an endorsement shall be made on such Global Security by the Trustee or by the
Depository at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will
take delivery thereof in the form of a beneficial interest in another Global
Security, such other Global Security shall be increased accordingly and an
endorsement shall be made on such Global Security by the Trustee or by the
Depository at the direction of the Trustee to reflect such
increase.

     

    (f)           Legend.

     

                              (i)Except as permitted by the following
paragraph (ii), (iii) or (iv), each Security certificate evidencing the Global
Securities and the Definitive Securities (and all Securities issued in exchange
therefor or in substitution thereof) shall bear a legend in substantially the
following form (each defined term in the legend being defined as such for
purposes of the legend only):

     

    “THIS
NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE SELLER OF
THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF
THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.

     

    
      
        
          

          
            	
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    THE
HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS NOTE MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) IN THE UNITED
STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES TO BE A QUALIFIED
INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED
STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 OF REGULATION S
UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (IV)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN
EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT
HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE
RESTRICTIONS SET FORTH IN (A) ABOVE.”

     

    Each
Definitive Security shall bear the following additional legends:

     

    “IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND
TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT
MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING
RESTRICTIONS.”

     

    “THIS
NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL
APPLICABLE STATE SECURITIES LAWS.  TERMS USED ABOVE HAVE THE MEANINGS
GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.”

     

                              (ii)Upon any sale or transfer of a
Transfer Restricted Security that is a Definitive Security, the Registrar shall
permit the Holder thereof to exchange such Transfer Restricted Security for a
Definitive Security that does not bear the legends set forth above and rescind
any restriction on the transfer of such Transfer Restricted Security if the
Holder certifies in writing to the Registrar that its request for such exchange
was made in reliance on Rule 144 (such certification to be in the form set forth
on the reverse of the Initial Security).

     

                              (iii)After a transfer of any Initial
Securities during the period of the effectiveness of a Shelf Registration
Statement with respect to such Initial Securities, all requirements pertaining
to the Restricted Securities Legend on such Initial Securities shall cease to
apply and the requirements that any such Initial Securities be issued in global
form shall continue to apply.

     

                              (iv)Upon the consummation of a Registered
Exchange Offer with respect to the Initial Securities pursuant to which Holders
of such Initial Securities are offered Exchange Securities in exchange for their
Initial Securities, all requirements pertaining to Initial Securities that
Initial Securities be issued in global form shall continue to apply, and
Exchange Securities in global form without the Restricted Securities Legend
shall be available to Holders that exchange such Initial Securities in such
Registered Exchange Offer.

     

                              (v)Upon a sale or transfer after the
expiration of the Restricted Period of any Initial Security acquired pursuant to
Regulation S, all requirements that such Initial Security bear the Restricted
Securities Legend shall cease to apply and the requirements requiring any such
Initial Security be issued in global form shall continue to apply.

     

                              (vi)Any Additional Securities sold in a
registered offering shall not be required to bear the Restricted Securities
Legend.

     

    
      
        
          

          
            	
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    (g)Cancellation or Adjustment
of Global Security.  At such time as all beneficial interests
in a particular Global Security have been exchanged for Definitive Securities or
a particular Global Security has been redeemed, repurchased or canceled in whole
and not in part, each such Global Security shall be returned to or retained and
canceled by the Trustee in accordance with Section 2.11 of this
Indenture.  At any time prior to such cancellation, if any beneficial
interest in a Global Security is exchanged for or transferred to a Person who
will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities
represented by such Global Security shall be reduced accordingly and an
endorsement shall be made on such Global Security by the Trustee or by the
Depository at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will
take delivery thereof in the form of a beneficial interest in another Global
Security, such other Global Security shall be increased accordingly and an
endorsement shall be made on such Global Security by the Trustee or by the
Depository at the direction of the Trustee to reflect such
increase.

     

    (h)           Obligations with Respect to
Transfers and Exchanges of Securities.

     

                              (i)To permit registrations of transfers
and exchanges, the Issuer shall execute and the Trustee shall authenticate,
Definitive Securities and Global Securities at the Registrar’s
request.

     

                              (ii)No service charge shall be made for
any registration of transfer or exchange, but the Issuer may require payment of
a sum sufficient to cover any transfer tax, assessments, or similar governmental
charge payable in connection therewith (other than any such transfer taxes,
assessments or similar governmental charge payable upon exchanges pursuant to
Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture).

     

                              (iii)Prior to the due presentation for
registration of transfer of any Security, the Issuer, the Trustee, a Paying
Agent or the Registrar may deem and treat the person in whose name a Security is
registered as the absolute owner of such Security for the purpose of receiving
payment of principal of and interest on such Security and for all other purposes
whatsoever, whether or not such Security is overdue, and none of the Issuer, the
Trustee, the Paying Agent or the Registrar shall be affected by notice to the
contrary.

     

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

     

    (i)           No Obligation of the
Trustee.

     

                              (i)The Trustee shall have no
responsibility or obligation to any beneficial owner of a Global Security, a
member of, or a participant in the Depository or any other Person with respect
to the accuracy of the records of the Depository or its nominee or of any
participant or member thereof, with respect to any ownership interest in the
Securities or with respect to the delivery to any participant, member,
beneficial owner or other Person (other than the Depository) of any notice
(including any notice of redemption or repurchase) or the payment of any amount,
under or with respect to such Securities.  All notices and
communications to be given to the Holders and all payments to be made to the
Holders under the Securities shall be given or made only to the registered
Holders (which shall be the Depository or its nominee in the case of a Global
Security).  The rights of beneficial owners in any Global Security
shall be exercised only through the Depository subject to the applicable rules
and procedures of the Depository.  The Trustee may rely and shall be
fully protected in relying upon information furnished by the Depository with
respect to its members, participants and any beneficial owners.

     

                              (ii)The Trustee shall have no obligation
or duty to monitor, determine or inquire as to compliance with any restrictions
on transfer imposed under this Indenture or under applicable law with respect to
any transfer of any interest in any Security (including any transfers between or
among Depository participants, members or beneficial owners in any Global
Security) other than to require delivery of such certificates and other
documentation or evidence as are expressly required by, and to do so if and when
expressly required by, the terms of this Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements
hereof.

     

    
      
        
          

          
            	
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    EXHIBIT
A

     

    [FORM OF
FACE OF INITIAL SECURITY]

     

    [Global
Securities Legend]

     

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

     

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

     

    [Restricted
Securities Legend]

     

    “THIS
NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE SELLER OF
THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF
THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.

     

    THE
HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS NOTE MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) IN THE UNITED
STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES TO BE  A
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT)
IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED
STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 OF REGULATION S
UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (IV)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN
EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT
HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE
RESTRICTIONS SET FORTH IN (A) ABOVE.”

     

    Each
Temporary Regulation S Security shall bear the following additional
legend:

     

    “THIS
NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, ANY U.S. PE

     

    
      
        
          

          
            	
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    SON
EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS.  TERMS
USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT.”

     

    Each
Definitive Security shall bear the following additional legends:

     

    “IN
CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND
TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT
MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING
RESTRICTIONS.”

     

    “THIS
NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”), FOR PURPOSES OF SECTIONS
1272, 1273, AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED.  BERRY PLASTICS CORPORATION (THE “COMPANY”) WILL, BEGINNING
NO LATER THAN TEN (10) DAYS AFTER THE ISSUE DATE, PROMPTLY PROVIDE TO HOLDERS OF
NOTES, UPON WRITTEN REQUEST, THE ISSUE PRICE, THE AMOUNT OF OID, THE ISSUE DATE
AND THE YIELD TO MATURITY WITH RESPECT TO THE NOTES. ANY SUCH WRITTEN REQUEST
SHOULD BE SENT TO THE COMPANY AT BERRY PLASTICS CORPORATION, 101 OAKLEY STREET
EVANSVILLE, INDIANA  47710, ATTENTION: CHIEF FINANCIAL
OFFICER.”

     

    
      
        
          

          
            	
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    [FORM OF
INITIAL SECURITY]

     

                                                                                                                      $__________

    No.

     

    First
Priority Senior Secured Floating Rate Notes due 2015

     

    
      	
               
      

            	
              CUSIP
      No. [144A:  085790 AN3]

            

    

    
      	
               
      

            	
              [Reg
      S: U23836 AD8]

            

    

    
      	
               
      

            	
              ISIN
      No.

            	
              [144A:  US085790
      AN32]

            

    

    
      	
               
      

            	
              [Reg
      S: USU23836 AD83]

            

    

     

    BERRY
PLASTICS CORPORATION, a Delaware corporation, promises to pay to Cede & Co.,
or registered assigns, the principal sum [of
          Dollars] [listed on
the Schedule of Increases or Decreases in Global Security attached hereto]1 on February 15, 2015.

     

    Interest
Payment Dates:  January 15, April 15, July 15 and October
15

     

    Record
Dates:  January 1, April 1, July 1 and October 1

     

    Additional
provisions of this Security are set forth on the other side of this
Security.

     

    IN
WITNESS WHEREOF, the parties have caused this instrument to be duly
executed.

     

    BERRY
PLASTICS CORPORATION

     

    
      	
               
      

            	
              By:

            	 	 

    

    
      	
               
      

            	
              Name:

            

    

    
      	
               
      

            	
              Title:

            

    

     

    Dated:

     

     

     

     

     

     

     

    

      

    

      
      
        	
                1

              	
                Use
      the Schedule of Increases and Decreases language if Security is in Global
      Form.

              

      

       

    

    
      
        
          

          
            	
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              TRUSTEE’S
      CERTIFICATE OF

            

    

    
      	
               
      

            	
              AUTHENTICATION

            

    

     

    
      	
               
      

            	
              WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

            

    

    
      	
               
      

            	
              as
      Trustee, certifies that this is

            

    

    
      	
               
      

            	
              one
      of the Securities

            

    

    
      	
               
      

            	
              referred
      to in the Indenture.

            

    

     

    
      	
              By:

            	 	 

    

    
      	
               
      

            	
              Authorized
      Signatory

            

    

     

    
      	
               
      

            	
              ______________________

            

    

     

    
      	
              */

            	
              If
      the Security is to be issued in global form, add the Global Securities
      Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO
      GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
      SECURITY.”

            

    

    
      
        
          

          
            	
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    [FORM OF
REVERSE SIDE OF INITIAL SECURITY]

     

    First
Priority Senior Secured Floating Rate Notes due 2015

     

    1.           Interest

     

    (a)           Berry
Plastics Corporation, a Delaware corporation (the “Company”), promises to pay
interest on the principal amount of this Security at a rate per annum, reset
quarterly, equal to LIBOR (as defined in the Indenture) plus 4.75%, as
determined by the Calculation Agent.  Interest on the Securities will
be payable quarterly in arrears on January 15, April 15, July 15 and October 15
of each year commencing July 15, 2008.  The Company shall make each
interest payment to the holders of record of the Securities on the immediately
preceding January 1, April 1, July 1 and October 1.  Interest shall
accrue from the date of issuance.

     

    The
amount of interest for each day that the Securities are outstanding (the “Daily
Interest Amount”) will be calculated by dividing the interest rate in effect for
such day by 360 and multiplying the result by the principal amount of the
Securities. The amount of interest to be paid on the Securities for each
Interest Period will be calculated by adding the Daily Interest Amounts for each
day in the Interest Period.

     

    All
percentages resulting from any of the above calculations will be rounded, if
necessary, to the nearest one hundred thousandth of a percentage point, with
five one-millionths of a percentage point being rounded upwards (e.g., 9.876545%
(or .09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts
used in or resulting from such calculations will be rounded to the nearest cent
(with one-half cent being rounded upwards).

     

    The
interest rate on the Securities 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 Calculation Agent will, upon the written request of any
holder of Securities, provide the interest rate then in effect with respect to
the Securities. All calculations made by the Calculation Agent in the absence of
manifest error will be conclusive for all purposes and binding on the Company,
the Note Guarantors and the Holders.

     

     (b)           Registration Rights
Agreement.  The Holder of this Security is entitled to the
benefits of a Registration Rights Agreement, dated as of April 21, 2008, among
Berry Plastics Corporation, the Note Guarantors and the Initial
Purchasers.

     

    2.           Method of
Payment

     

    The
Company shall pay interest on the Securities (except defaulted interest) to the
Persons who are registered Holders at the close of business on the January 1,
April 1, July 1 and October 1 next preceding the interest payment date even if
Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day).  Holders must surrender
Securities to the Paying Agent to collect principal payments.  The
Company shall pay principal, premium, if any, and interest in money of the
United States of America that at the time of payment is legal tender for payment
of public and private debts.  Payments in respect of the Securities
represented by a Global Security (including principal, premium, if any, and
interest) shall be made by wire transfer of immediately available funds to the
accounts specified by The Depository Trust Company or any successor
depositary.  The Company shall make all payments in respect of a
certificated Security (including principal, premium, if any, and interest) at
the office of the Paying Agent, except that, at the option of the Company,
payment of interest may be made by mailing a check to the registered address of
each Holder thereof; provided, however, that payments on the
Securities may also be made, in the case of a Holder of at least $1,000,000
aggregate principal amount of Securities, by wire transfer to a U.S. dollar
account maintained by the payee with a bank in the United States if such Holder
elects payment by wire transfer by giving written notice to the Trustee or
Paying Agent to such effect designating such account no later than 30 days
immediately preceding the relevant due date for payment (or such other date as
the Trustee may accept in its discretion).

     

    
      
        
          

          
            	
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    3.           Paying
Agent and Registrar

     

    Initially,
Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), will act as Paying Agent and Registrar.  The Company may
appoint and change any Paying Agent or Registrar without notice.  The
Company or any of its domestically incorporated Wholly Owned Subsidiaries may
act as Paying Agent or Registrar.

     

    4.           Indenture

     

    The
Company issued the Securities under an Indenture dated as of April 21, 2008 (the
“Indenture”), among the Company and the Trustee.  The terms of the
Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the
“TIA”).  Terms defined in the Indenture and not defined herein have
the meanings ascribed thereto in the Indenture.  The Securities are
subject to all terms and provisions of the Indenture, and the Holders (as
defined in the Indenture) are referred to the Indenture and the TIA for a
statement of such terms and provisions.

     

    The
Securities are senior secured obligations of the Company.  This
Security is one of the Initial Securities referred to in the
Indenture.  The Securities include the Original Securities, any
Additional Securities and any Exchange Securities issued in exchange for the
Original Securities or any Additional Securities pursuant to the Indenture. The
Original Securities, any Additional Securities and any Exchange Securities are
treated as a single class of securities under the Indenture.  The
Indenture imposes certain limitations on the ability of the Company and its
Restricted Subsidiaries to, among other things, make certain Investments and
other Restricted Payments, pay dividends and other distributions, incur
Indebtedness, enter into consensual restrictions upon the payment of certain
dividends and distributions by such Restricted Subsidiaries, issue or sell
shares of capital stock of the Company and such Restricted Subsidiaries, enter
into or permit certain transactions with Affiliates, create or incur Liens and
make Asset Sales.  The Indenture also imposes limitations on the
ability of the Company and each Note Guarantor to consolidate or merge with or
into any other Person or convey, transfer or lease all or substantially all of
its property.

     

    To
guarantee the due and punctual payment of the principal and interest on the
Securities and all other amounts payable by the Company under the Indenture and
the Securities when and as the same shall be due and payable, whether at
maturity, by acceleration or otherwise, according to the terms of the Securities
and the Indenture, the Note Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior basis pursuant
to the terms of the Indenture.

     

    5.           Optional
Redemption

     

    Except as
set forth in the following two paragraphs, the Securities shall not be
redeemable at the option of the Company prior to April 15,
2010.  Thereafter, the Securities shall be redeemable at the option of
the Company, in whole at any time or in part from time to time, upon on not less
than 30 nor more than 60 days’ prior notice, at the following redemption prices
(expressed as a percentage of principal amount), plus accrued and unpaid
interest and Additional Interest, if any, to the redemption date (subject to the
right of the Holders of record on the relevant record date to receive interest
due on the relevant interest payment date), if redeemed during the twelve-month
period commencing on April 15 of the years set forth below:

     

    
      	
              Year

            	
              Redemption Price

            
	
              2010

            	
              102.000%

            
	
              2011

            	
              101.000%

            
	
              2012
      and thereafter

            	
              100.000%

            

    

    

    In
addition, prior to April 15, 2010, the Company may redeem the Securities at its
option, in whole at any time or in part from time to time, upon not less than 30
nor more than 60 days’ prior notice mailed by first-class mail or sent
electronically to each holder’s registered address, at a redemption price equal
to 100% of the principal amount of the Securities redeemed plus the Applicable
Premium as of, and accrued and unpaid interest and Additional

     

    
      
        
          

          
            	
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    Interest,
if any, to, the applicable redemption date (subject to the right of Holders of
record on the relevant record date to receive interest due on the relevant
interest payment date).

     

    Notwithstanding
the foregoing, at any time and from time to time on or prior to April 15, 2010,
the Company may redeem in the aggregate up to 35% of the original aggregate
principal amount of the Securities (calculated after giving effect to the
issuance of Additional Securities) issued as of the time of such redemption,
with the net cash proceeds of one or more Equity Offerings (1) by the Company or
(2) by any direct or indirect parent of the Company, in each case, to the extent
the net cash proceeds thereof are contributed to the common equity capital of
the Company or used to purchase Capital Stock (other than Disqualified Stock) of
the Company from it, at a redemption price (expressed as a percentage of the
principal amount thereof)  of 100% plus a premium (expressed as a
percentage of the principal amount thereof) equal to the interest rate per annum
on the Securities applicable on the date on which notice of redemption is given,
plus accrued and unpaid interest and Additional Interest, if any, to the
redemption date  (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment
date); provided, however, that at least 65% of
the original aggregate principal amount of the Securities (calculated after
giving effect to the issuance of Additional Securities) issued as of the time of
such redemption must remain outstanding after each such redemption; and provided further that such
redemption shall occur within 90 days after the date on which any such Equity
Offering is consummated upon not less than 30 nor more than 60 days’ notice
mailed or sent electronically to each Holder being redeemed and otherwise in
accordance with the procedures set forth in the Indenture.  Notice of
any redemption upon any Equity Offering may be given prior to the completion
thereof, and any such redemption or notice may, at the Company’s discretion, be
subject to one or more conditions precedent, including, but not limited to,
completion of the Equity Offering.

     

    6.           Sinking
Fund

     

    The
Securities are not subject to any sinking fund.

     

    7.           Notice of
Redemption

     

    Notice of
redemption will be mailed by first-class mail or sent electronically at least 30
days but not more than 60 days before the redemption date to each Holder of
Securities to be redeemed at his, her or its registered
address.  Securities in denominations larger than $2,000 may be
redeemed in part but only in whole multiples of $1,000.  If money
sufficient to pay the redemption price of and accrued and unpaid interest on all
Securities (or portions thereof) to be redeemed on the redemption date is
deposited with a Paying Agent on or before the redemption date and certain other
conditions are satisfied, on and after such date, interest ceases to accrue on
such Securities (or such portions thereof) called for redemption.

     

    8.           Repurchase
of Securities at the Option of the

     

    Holders upon Change of
Control and Asset Sales

     

    Upon the
occurrence of a Change of Control, each Holder shall have the right, subject to
certain conditions specified in the Indenture, to cause the Company to
repurchase all or any part of such Holder’s Securities at a purchase price in
cash equal to 101% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the date of repurchase (subject to the right of the Holders
of record on the relevant record date to receive interest due on the relevant
interest payment date), as provided in, and subject to the terms of, the
Indenture.

     

    In
accordance with Section 4.06 of the Indenture, the Company will be required to
offer to purchase Securities upon the occurrence of certain events.

     

    9.           Ranking and
Collateral

     

    These
Securities and the Guarantees are secured by a first priority security interest
in the Collateral pursuant to certain Security Documents, subject to the
Intercreditor Agreements.

     

    
      
        
          

          
            	
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    10.           Denominations;
Transfer; Exchange

     

    The
Securities are in registered form, without coupons, in denominations of $2,000
and any integral multiple of $1,000.  A Holder shall register the
transfer of or exchange of Securities in accordance with the
Indenture.  Upon any registration of transfer or exchange, the
Registrar and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes required by
law or permitted by the Indenture.  The Registrar need not register
the transfer of or exchange any Securities selected for redemption (except, in
the case of a Security to be redeemed in part, the portion of the Security not
to be redeemed) or to transfer or exchange any Securities for a period of 15
days prior to a selection of Securities to be redeemed.

     

    11.           Persons Deemed
Owners

     

    The
registered Holder of this Security shall be treated as the owner of it for all
purposes.

     

    12.           Unclaimed
Money

     

    If money
for the payment of principal or interest remains unclaimed for two years, the
Trustee and a Paying Agent shall pay the money back to the Company at their
written request unless an abandoned property law designates another
Person.  After any such payment, the Holders entitled to the money
must look to the Company for payment as general creditors and the Trustee and a
Paying Agent shall have no further liability with respect to such
monies.

     

    13.           Amendment;
Waiver

     

    Subject
to certain exceptions set forth in the Indenture, (i) the Indenture, the
Security Documents, the Intercreditor Agreements or the Securities may be
amended with the written consent of the Holders of at least a majority in
aggregate principal amount of the outstanding Securities (voting as a single
class) and (ii) any past default or compliance with any provisions may be waived
with the written consent of the Holders of at least a majority in principal
amount of the outstanding Securities.  Subject to certain exceptions
set forth in the Indenture, without the consent of any Holder, the Company and
the Trustee may amend the Indenture, Security Documents, the Intercreditor
Agreements or the Securities (i) to cure any ambiguity, omission, defect or
inconsistency; (ii) to provide for the assumption by a Successor Company of the
obligations of the Company under the Indenture and the Securities; (iii) to
provide for the assumption by a Successor Note Guarantor of the obligations of a
Note Guarantor under the Indenture and its Guarantee; (iv) to provide for
uncertificated Securities in addition to or in place of certificated Securities
(provided that the
uncertificated Securities are issued in registered form for purposes of Section
163(f) of the Code, or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code); (v) to add a Guarantee with
respect to the Securities; (vi) to secure the Securities; (vii) to add
additional assets as Collateral; (viii) to release Collateral from the Lien
pursuant to the Indenture, the Security Documents and the Intercreditor
Agreements when permitted or required by the Indenture or the Security
Documents, (ix) to modify the Security Documents and/or the Intercreditor
Agreements to secure First Priority Lien Obligations and other obligations in
accordance with the Security Documents, the Intercreditor Agreements and this
Indenture, (x) to add additional covenants of the Company for the benefit of the
Holders or to surrender rights and powers conferred on the Company; (xi) to
comply with the requirements of the SEC in order to effect or maintain the
qualification of the Indenture under the TIA; (xii) to make any change that does
not adversely affect the rights of any Holder; or (xiii) to provide for the
issuance of the Exchange Securities or Additional Securities.

     

    14.           Defaults and
Remedies

     

    If an
Event of Default occurs (other than an Event of Default relating to certain
events of bankruptcy, insolvency or reorganization of the Company) and is
continuing, the Trustee or the Holders of at least 25% in principal amount of
the outstanding Securities, in each case, by notice to the Company, may declare
the principal of, premium, if any, and accrued but unpaid interest on all the
Securities to be due and payable.  If an Event of Default relating to
certain events of bankruptcy, insolvency or reorganization of the Company
occurs, the principal of, premium, if any, and interest on all the Securities
shall become immediately due and payable without any declaration or other act on
the

     

    
      
        
          

          
            	
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    part of
the Trustee or any Holders.  Under certain circumstances, the Holders
of a majority in principal amount of the outstanding Securities may rescind any
such acceleration with respect to the Securities and its
consequences.

     

    If an
Event of Default occurs and is continuing, the Trustee shall be under no
obligation to exercise any of the rights or powers under the Indenture at the
request or direction of any of the Holders unless such Holders have offered to
the Trustee reasonable indemnity or security against any loss, liability or
expense and certain other conditions are complied with.  Except to
enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to the Indenture or the
Securities unless (i) such Holder has previously given the Trustee notice that
an Event of Default is continuing, (ii) the Holders of at least 25% in principal
amount of the outstanding Securities  have requested the Trustee in
writing to pursue the remedy, (iii) such Holders have offered the Trustee
reasonable security or indemnity against any loss, liability or expense, (iv)
the Trustee has not complied with such request within 60 days after the receipt
of the request and the offer of security or indemnity and (v) the Holders of a
majority in principal amount of the outstanding Securities  have not
given the Trustee a direction inconsistent with such request within such 60-day
period.  Subject to certain restrictions, the Holders of a majority in
principal amount of the outstanding Securities  are given the right to
direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the
Trustee.  The Trustee, however, may refuse to follow any direction
that conflicts with law or the Indenture or that the Trustee determines is
unduly prejudicial to the rights of any other Holder or that would involve the
Trustee in personal liability.  Prior to taking any action under the
Indenture, the Trustee shall be entitled to indemnification satisfactory to it
in its sole discretion against all losses and expenses caused by taking or not
taking such action.

     

    15.           Trustee Dealings with the
Company

     

    Subject
to certain limitations imposed by the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of
Securities and may otherwise deal with and collect obligations owed to it by the
Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not
Trustee.

     

    16.           No Recourse Against
Others

     

    No
director, officer, employee, incorporator or holder of any equity interests in
the Company or of any Note Guarantor or any direct or indirect parent
corporation, as such, shall have any liability for any obligations of the
Company or the Note Guarantors under the Securities, the Indenture or for any
claim based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Securities by accepting a Security waives
and releases all such liability.

     

    17.           Authentication

     

    This
Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

     

    18.           Abbreviations

     

    Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    19.           Governing
Law

     

    THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     

    
      
        
          

          
            	
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    20.           CUSIP
Numbers; ISINs

     

    The
Company has caused CUSIP numbers and ISINs to be printed on the Securities and
has directed the Trustee to use CUSIP numbers and ISINs in notices of redemption
as a convenience to the Holders.  No representation is made as to the
accuracy of such numbers either as printed on the Securities or as contained in
any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

     

    
      	
              21.

            	
              Discharge and
      Defeasance

            

    

     

    Subject
to certain conditions and as set forth in the Indenture, the Company at any time
may terminate some of or all of its obligations under the Securities and the
Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Securities to
redemption or maturity, as the case may be.

     

    The
Company will furnish to any Holder of Securities upon written request and
without charge to the Holder a copy of the Indenture which has in it the text of
this Security.

     

    
      
        
          

          
            	
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    ASSIGNMENT
FORM

     

    To assign
this Security, fill in the form below:

     

    I or we
assign and transfer this Security to:

     

     

      
        

      

    

    (Print or type assignee’s name,
address and zip code)

     

    

     

      
        

      

    

    (Insert assignee’s soc. sec. or tax
I.D. No.)

     

    and
irrevocably
appoint                           agent
to transfer this Security on the books of the Company.  The agent may
substitute another to act for him.

     

    Date:  _________________   Your
Signature: _________________________________________________                                                                          

     

    

     

      
        

      

    

    Sign
exactly as your name appears on the other side of this Security.

     

    Signature
Guarantee:

     

    
      	
              Date:  _____________________________________________________                                                                

            	 
      
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor program reasonably
      acceptable to the Trustee

            	
              Signature
      of Signature Guarantee

            

    

    
      
        
          

          
            	
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    CERTIFICATE
TO BE DELIVERED UPON EXCHANGE OR

    REGISTRATION
OF TRANSFER RESTRICTED SECURITIES

     

    This
certificate relates to $_________ principal amount of Securities held in (check
applicable space) ____ book-entry or _____ definitive form by the
undersigned.

     

    The
undersigned (check one box below):

     

    
      	
               
      o

            	
              has
      requested the Trustee by written order to deliver in exchange for its
      beneficial interest in the Global Security held by the Depository a
      Security or Securities in definitive, registered form of authorized
      denominations and an aggregate principal amount equal to its beneficial
      interest in such Global Security (or the portion thereof indicated
      above);

            

    

     

    
      	
               
      o

            	
              has
      requested the Trustee by written order to exchange or register the
      transfer of a Security or
Securities.

            

    

     

    In
connection with any transfer of any of the Securities evidenced by this
certificate occurring prior to the expiration of the period referred to in Rule
144(k) under the Securities Act, the undersigned confirms that such Securities
are being transferred in accordance with its terms:

     

    CHECK ONE
BOX BELOW

     

    
      	
              (1)

            	 
      o	
              to
      the Company; or

            
	
              (2)

            	 
      o	
              to
      the Registrar for registration in the name of the Holder, without
      transfer; or

            
	
              (3)

            	 
      o	
              pursuant
      to an effective registration statement under the Securities Act of 1933;
      or

            
	
              (4)

            	 
      o	
              inside
      the United States to a “qualified institutional buyer” (as defined in Rule
      144A under the Securities Act of 1933) that purchases for its own account
      or for the account of a qualified institutional buyer to whom notice is
      given that such transfer is being made in reliance on Rule 144A, in each
      case pursuant to and in compliance with Rule 144A under the Securities Act
      of 1933; or

            
	
              (5)

            	 
      o	
              outside
      the United States in an offshore transaction within the meaning of
      Regulation S under the Securities Act in compliance with Rule 904 under
      the Securities Act of 1933 and such Security shall be held immediately
      after the transfer through Euroclear or Clearstream until the expiration
      of the Restricted Period (as defined in the Indenture);
  or

            
	
              (6)

            	 
      o	
              to
      an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
      (3) or (7) under the Securities Act of 1933) that has furnished to the
      Trustee a signed letter containing certain representations and agreements;
      or

            
	
              (7)

            	 
      o	
              pursuant
      to another available exemption from registration provided by Rule 144
      under the Securities Act of 1933.

            

    

    

    
      
        
          

          
            	
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    Unless
one of the boxes is checked, the Trustee will refuse to register any of the
Securities evidenced by this certificate in the name of any Person other than
the registered Holder thereof; provided, however, that if box (5), (6)
or (7) is checked, the Company or the Trustee may require, prior to registering
any such transfer of the Securities, such legal opinions, certifications and
other information as the Company or the Trustee have reasonably requested to
confirm that such transfer is being made pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act
of 1933.

     

     

    Date:  _________________________________               Your
Signature:  ___________________________________                                                                         

     

    Signature
Guarantee:

     

    
      	
              Date:      _____________________________________                                                          

            	 
      ________________________________________________
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor program reasonably
      acceptable to the Trustee

            	
              Signature
      of Signature Guarantee

            

    

    

    
      
        
          

          
            	
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    TO BE
COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED.

     

    The
undersigned represents and warrants that it is purchasing this Security for its
own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a “qualified institutional buyer”
within the meaning of Rule 144A under the Securities Act of 1933, and is aware
that the sale to it is being made in reliance on Rule 144A and acknowledges that
it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon the
undersigned’s foregoing representations in order to claim the exemption from
registration provided by Rule 144A.

     

     

    
      	
               
      

            	
              Dated:

            	 	 	 

    

    
      	
               
      

            	
              NOTICE:  To
      be executed by an executive officer

            

    

     

    
      
        
          

          
            	
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    [TO BE
ATTACHED TO GLOBAL SECURITIES]

     

    SCHEDULE
OF INCREASES OR DECREASES IN GLOBAL SECURITY

     

    The
initial principal amount of this Global Security is
$______________.  The following increases or decreases in this Global
Security have been made:

     

    
      	
              Date
      of Exchange

            	
              Amount
      of decrease in Principal Amount of this Global Security

            	
              Amount
      of increase in Principal Amount of this Global Security

            	
              Principal
      amount of this Global Security following such decrease or
      increase

            	
              Signature
      of authorized signatory of Trustee or Securities
  Custodian

            
	 
      	 
      	 
      	 
      	 
      

    

    

    
      
        
          

          
            	
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    OPTION
OF HOLDER TO ELECT PURCHASE

     

    If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, check
the box:

     

    
      	
              Asset
      Saleo

            	
              Change
      of Controlo

            

    

    

    If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.06 (Asset Sale) or 4.08 (Change of Control) of the
Indenture, state the amount ($2,000 or any integral multiple of
$1,000):

     

    $

     

    
      	
               
      

            	
              Date:

            	
              Your
      Signature:

            	 	 	 

    

    
      	
               
      

            	
              (Sign
      exactly as your name appears on the other side of this
      Security)

            

    

     

    Signature
Guarantee: ______________________________________________________________                                                                                    

     

    Signature
must be guaranteed by a participant in a recognized signature guaranty medallion
program or other signature guarantor program reasonably acceptable to the
Trustee

     

    
      
        
          

          
            	
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    EXHIBIT
B

     

    [FORM OF
FACE OF EXCHANGE SECURITY]

     

    [Global
Securities Legend]

     

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

     

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

     

    Each
Definitive Security shall bear the following legend:

     

    “THIS
NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”), FOR PURPOSES OF SECTIONS
1272, 1273, AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED.  BERRY PLASTICS CORPORATION (THE “COMPANY”) WILL, BEGINNING
NO LATER THAN TEN (10) DAYS AFTER THE ISSUE DATE, PROMPTLY PROVIDE TO HOLDERS OF
NOTES, UPON WRITTEN REQUEST, THE ISSUE PRICE, THE AMOUNT OF OID, THE ISSUE DATE
AND THE YIELD TO MATURITY WITH RESPECT TO THE NOTES. ANY SUCH WRITTEN REQUEST
SHOULD BE SENT TO THE COMPANY AT BERRY PLASTICS CORPORATION, 101 OAKLEY STREET
EVANSVILLE, INDIANA  47710, ATTENTION: CHIEF FINANCIAL
OFFICER.”

     

    

     

    

     

    
      
        
          

           

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                        No.                                                                                                                                       $__________

     

    First
Priority Senior Secured Floating Rate Notes due 2015

     

    
      	
               
      

            	
              CUSIP
      No. 085790 AP8

            

    

    
      	
               
      

            	
              ISIN     No.
      US085790AP89

            

    

     

    BERRY
PLASTICS CORPORATION, a Delaware corporation, promises to pay to Cede & Co.,
or registered assigns, the principal sum [of
           Dollars]
[listed on the Schedule of Increases or Decreases in Global Security attached
hereto]2 on   February 15, 2015.

     

    Interest
Payment Dates:  January 15, April 15, July 15 and October
15

     

    Record
Dates:  January 1, April 1, July 1 and October 1

     

    Additional
provisions of this Security are set forth on the other side of this
Security.

     

    IN
WITNESS WHEREOF, the parties have caused this instrument to be duly
executed.

     

    BERRY
PLASTICS CORPORATION

     

     

    
      	
               
      

            	
              By:

            	 	 

    

    
      	
               
      

            	
              Name:

            

    

    
      	
               
      

            	
              Title:

            

    

     

    Dated:

     

     

    

      

    

      
      
        	
                2

              	
                Use
      the Schedule of Increases and Decreases language if Security is in Global
      Form.

              

      

       

    

    
      
        
          

           

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              TRUSTEE’S
      CERTIFICATE OF

            

    

    
      	
               
      

            	
              AUTHENTICATION

            

    

     

    
      	
               
      

            	
              WELLS
      FARGO BANK, NATIONAL ASSOCIATION,

            

    

    
      	
               
      

            	
              as
      Trustee, certifies that this is

            

    

    
      	
               
      

            	
              one
      of the Securities

            

    

    
      	
               
      

            	
              referred
      to in the Indenture.

            

    

     

    
      	
              By:

            	 	 

    

     

    
      	
               
      

            	
              Authorized
      Signatory

            

    

     

    
      	
               
      

            	
              ______________________

            

    

     

    
      	
              */

            	
              If
      the Security is to be issued in global form, add the Global Securities
      Legend and the attachment from Exhibit B captioned “TO BE ATTACHED TO
      GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
      SECURITY.”

            

    

    
      
        
          

           

          B-

        

         

      

      
         

        
          

        

      

      
         

        
          
            	
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    [FORM OF
REVERSE SIDE OF EXCHANGE SECURITY]

     

    First
Priority Senior Secured Floating Rate Notes due 2015

     

    1.           Interest

     

    BERRY
PLASTICS CORPORATION, a Delaware corporation (the “Company”), promises to pay
interest on the principal amount of this Security at a rate per annum, reset
quarterly, equal to LIBOR (as defined in the indenture) plus 4.75%, as
determined by the Calculation Agent. Interest on the Securities will be payable
quarterly in arrears on January 15, April 15, July 15 and October 15 of each
year, commencing July 15, 2008.3  The Company shall make each
interest payment to the holders of record of the Securities on the immediately
preceding January 1, April 1, July 1 and October 1.  Interest shall
accrue from the date of issuance.

     

    The
amount of interest for each day that the Securities are outstanding (the “Daily
Interest Amount”) will be calculated by dividing the interest rate in effect for
such day by 360 and multiplying the result by the principal amount of the
Securities. The amount of interest to be paid on the Securities for each
Interest Period will be calculated by adding the Daily Interest Amounts for each
day in the Interest Period.

     

    All
percentages resulting from any of the above calculations will be rounded, if
necessary, to the nearest one hundred thousandth of a percentage point, with
five one-millionths of a percentage point being rounded upwards (e.g., 9.876545%
(or .09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts
used in or resulting from such calculations will be rounded to the nearest cent
(with one-half cent being rounded upwards).

     

    The
interest rate on the Securities 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 Calculation Agent will, upon the written request of any
holder of Securities, provide the interest rate then in effect with respect to
the Securities. All calculations made by the Calculation Agent in the absence of
manifest error will be conclusive for all purposes and binding on the Company,
the Note Guarantors and the Holders.

     

    2.           Method of
Payment

     

    The
Company shall pay interest on the Securities (except defaulted interest) to the
Persons who are registered Holders at the close of business on the January 1,
April 1, July 1 and October 1 next preceding the interest payment date even if
Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day).  Holders must surrender
Securities to the Paying Agent to collect principal payments.  The
Company shall pay principal, premium, if any, and interest in money of the
United States of America that at the time of payment is legal tender for payment
of public and private debts.  Payments in respect of the Securities
represented by a Global Security (including principal, premium, if any, and
interest) shall be made by wire transfer of immediately available funds to the
accounts specified by The Depository Trust Company or any successor
depositary.  The Company shall make all payments in respect of a
certificated Security (including principal, premium, if any, and interest), at
the office of the Paying Agent, except that, at the option of the Company,
payment of interest may be made by mailing a check to the registered address of
each Holder thereof; provided, however, that payments on the
Securities may also be made, in the case of a Holder of at least $1,000,000
aggregate principal amount of Securities, by wire transfer to a U.S. dollar
account maintained by the payee with a bank in the United States if such Holder
elects payment by wire transfer by giving written notice to the Trustee or
Paying Agent to such effect designating such account no later than 30 days
immediately preceding the relevant due date for payment (or such other date as
the Trustee may accept in its discretion).

     

    

      

    

      
      
        	
                3

              	
                Note:  With
      respect to the Original Securities

              

      

       

    

    
      
        
          

           

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    3.           Paying
Agent and Registrar

     

    Initially,
Wells Fargo Bank, National Association, a national banking association (the
“Trustee”), will act as Paying Agent and Registrar.  The Company may
appoint and change any Paying Agent or Registrar without notice.  The
Company or any of its domestically incorporated Wholly Owned Subsidiaries may
act as Paying Agent or Registrar.

     

    4.           Indenture

     

    The
Company issued the Securities under an Indenture dated as of April 21, 2008,
(the “Indenture”), among the Company and the Trustee.  The terms of
the Securities include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the
“TIA”).  Terms defined in the Indenture and not defined herein have
the meanings ascribed thereto in the Indenture.  The Securities are
subject to all terms and provisions of the Indenture, and the Holders (as
defined in the Indenture) are referred to the Indenture and the TIA for a
statement of such terms and provisions.

     

    The
Securities are senior secured obligations of the Company.  This
Security is one of the Exchange Securities referred to in the
Indenture.  The Securities include the Original Securities, any
Additional Securities and any Exchange Securities issued in exchange for the
Original Securities or any Additional Securities pursuant to the Indenture. The
Original Securities, any Additional Securities and any Exchange Securities are
treated as a single class of securities under the Indenture. The Indenture
imposes certain limitations on the ability of the Company and its Restricted
Subsidiaries to, among other things, make certain Investments and other
Restricted Payments, pay dividends and other distributions, incur Indebtedness,
enter into consensual restrictions upon the payment of certain dividends and
distributions by such Restricted Subsidiaries, issue or sell shares of capital
stock of the Company and such Restricted Subsidiaries, enter into or permit
certain transactions with Affiliates, create or incur Liens and make Asset
Sales.  The Indenture also imposes limitations on the ability of the
Company and each Note Guarantor to consolidate or merge with or into any other
Person or convey, transfer or lease all or substantially all of its
property.

     

    To
guarantee the due and punctual payment of the principal and interest on the
Securities and all other amounts payable by the Company under the Indenture and
the Securities when and as the same shall be due and payable, whether at
maturity, by acceleration or otherwise, according to the terms of the Securities
and the Indenture, the Note Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior basis pursuant
to the terms of the Indenture.

     

    5.           Optional
Redemption

     

    Except as
set forth in the following two paragraphs, the Securities shall not be
redeemable at the option of the Company prior to April 15,
2010.  Thereafter, the Securities shall be redeemable at the option of
the Company, in whole at any time or in part from time to time, upon on not less
than 30 nor more than 60 days’ prior notice, at the following redemption prices
(expressed as a percentage of principal amount), plus accrued and unpaid
interest and Additional Interest, if any, to the redemption date (subject to the
right of the Holders of record on the relevant record date to receive interest
due on the relevant interest payment date), if redeemed during the twelve-month
period commencing on April 15 of the years set forth below:

     

    
      	
              Year

            	
              Redemption Price

            
	
              2010

            	
              102.000%

            
	
              2011

            	
              101.000%

            
	
              2012
      and thereafter

            	
              100.000%

            

    

    

    In
addition, prior to April 15, 2010, the Company may redeem the Securities at its
option, in whole at any time or in part from time to time, upon not less than 30
nor more than 60 days’ prior notice mailed by first-class mail or sent
electronically to each holder’s registered address, at a redemption price equal
to 100% of the

     

    
      
        
          

           

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    principal
amount of the Securities redeemed plus the Applicable Premium as of, and accrued
and unpaid interest and Additional Interest, if any, to, the applicable
redemption date (subject to the right of Holders of record on the relevant
record date to receive interest due on the relevant interest payment
date).

     

    Notwithstanding
the foregoing, at any time and from time to time on or prior to April 15, 2010,
the Company may redeem in the aggregate up to 35% of the original aggregate
principal amount of the Securities (calculated after giving effect to the
issuance of Additional Securities) issued as of the time of such redemption,
with the net cash proceeds of one or more Equity Offerings (1) by the Company or
(2) by any direct or indirect parent of the Company, in each case, to the extent
the net cash proceeds thereof are contributed to the common equity capital of
the Company or used to purchase Capital Stock (other than Disqualified Stock) of
the Company from it, at a redemption price (expressed as a percentage of the
principal amount thereof)  of 100% plus a premium (expressed as a
percentage of the principal amount thereof) equal to the interest rate per annum
on the Securities applicable on the date on which notice of redemption is given,
plus accrued and unpaid interest and Additional Interest, if any, to the
redemption date  (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment
date); provided, however, that at least 65% of
the original aggregate principal amount of the Securities (calculated after
giving effect to the issuance of Additional Securities) issued as of the time of
such redemption must remain outstanding after each such redemption; and provided further that such
redemption shall occur within 90 days after the date on which any such Equity
Offering is consummated upon not less than 30 nor more than 60 days’ notice
mailed or sent electronically to each Holder being redeemed and otherwise in
accordance with the procedures set forth in the Indenture.  Notice of
any redemption upon any Equity Offering may be given prior to the completion
thereof, and any such redemption or notice may, at the Company’s discretion, be
subject to one or more conditions precedent, including, but not limited to,
completion of the Equity Offering.

     

    6.           Sinking
Fund

     

    The
Securities are not subject to any sinking fund.

     

    7.           Notice of
Redemption

     

    Notice of
redemption will be mailed by first-class mail or sent electronically at least 30
days but not more than 60 days before the redemption date to each Holder of
Securities to be redeemed at his, her or its registered
address.  Securities in denominations larger than $2,000 may be
redeemed in part but only in whole multiples of $1,000.  If money
sufficient to pay the redemption price of and accrued and unpaid interest on all
Securities (or portions thereof) to be redeemed on the redemption date is
deposited with a Paying Agent on or before the redemption date and certain other
conditions are satisfied, on and after such date, interest ceases to accrue on
such Securities (or such portions thereof) called for redemption.

     

    8.           Repurchase
of Securities at the Option of the

     

    Holders upon Change of
Control and Asset Sales

     

    Upon the
occurrence of a Change of Control, each Holder shall have the right, subject to
certain conditions specified in the Indenture, to cause the Company to
repurchase all or any part of such Holder’s Securities at a purchase price in
cash equal to 101% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the date of repurchase (subject to the right of the Holders
of record on the relevant record date to receive interest due on the relevant
interest payment date), as provided in, and subject to the terms of, the
Indenture.

     

    In
accordance with Section 4.06 of the Indenture, the Company will be required to
offer to purchase Securities upon the occurrence of certain events.

     

    9.           Ranking and
Collateral

     

    These
Securities and the Guarantees are secured by a first priority security interest
in the Collateral pursuant to certain Security Documents, subject to the
Intercreditor Agreements.

     

    
      
        
          

           

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    10.           Denominations;
Transfer; Exchange

     

    The
Securities are in registered form, without coupons, in denominations of $2,000
and any integral multiple of $1,000.  A Holder shall register the
transfer of or exchange of Securities in accordance with the
Indenture.  Upon any registration of transfer or exchange, the
Registrar and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes required by
law or permitted by the Indenture.  The Registrar need not register
the transfer of or exchange any Securities selected for redemption (except, in
the case of a Security to be redeemed in part, the portion of the Security not
to be redeemed) or to transfer or exchange any Securities for a period of 15
days prior to a selection of Securities to be redeemed.

     

    11.           Persons Deemed
Owners

     

    The
registered Holder of this Security shall be treated as the owner of it for all
purposes.

     

    12.           Unclaimed
Money

     

    If money
for the payment of principal or interest remains unclaimed for two years, the
Trustee and a Paying Agent shall pay the money back to the Company at their
written request unless an abandoned property law designates another
Person.  After any such payment, the Holders entitled to the money
must look to the Company for payment as general creditors and the Trustee and a
Paying Agent shall have no further liability with respect to such
monies.

     

    13.           Amendment;
Waiver

     

    Subject
to certain exceptions set forth in the Indenture, (i) the Indenture, the
Security Documents, the Intercreditor Agreements or the Securities may be
amended with the written consent of the Holders of at least a majority in
aggregate principal amount of the outstanding Securities (voting as a single
class) and (ii) any past default or compliance with any provisions may be waived
with the written consent of the Holders of at least a majority in principal
amount of the outstanding Securities.  Subject to certain exceptions
set forth in the Indenture, without the consent of any Holder, the Company and
the Trustee may amend the Indenture, Security Documents, the Intercreditor
Agreements or the Securities (i) to cure any ambiguity, omission, defect or
inconsistency; (ii) to provide for the assumption by a Successor Company of the
obligations of the Company under the Indenture and the Securities; (iii) to
provide for the assumption by a Successor Note Guarantor of the obligations of a
Note Guarantor under the Indenture and its Guarantee; (iv) to provide for
uncertificated Securities in addition to or in place of certificated Securities
(provided that the
uncertificated Securities are issued in registered form for purposes of Section
163(f) of the Code, or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code); (v) to add a Guarantee with
respect to the Securities; (vi) to secure the Securities; (vii) to add
additional assets as Collateral; (viii) to release Collateral from the Lien
pursuant to the Indenture, the Security Documents and the Intercreditor
Agreements when permitted or required by the Indenture or the Security
Documents, (ix) to modify the Security Documents and/or the Intercreditor
Agreements to secure First Priority Lien Obligations and other obligations in
accordance with the Security Documents, the Intercreditor Agreements and this
Indenture, (x) to add additional covenants of the Company for the benefit of the
Holders or to surrender rights and powers conferred on the Company; (xi) to
comply with the requirements of the SEC in order to effect or maintain the
qualification of the Indenture under the TIA; (xii) to make any change that does
not adversely affect the rights of any Holder; or (xiii) to provide for the
issuance of the Exchange Securities or Additional Securities.

     

    14.           Defaults and
Remedies

     

    If an
Event of Default occurs (other than an Event of Default relating to certain
events of bankruptcy, insolvency or reorganization of the Company) and is
continuing, the Trustee or the Holders of at least 25% in principal amount of
the outstanding Securities, in each case, by notice to the Company, may declare
the principal of, premium, if any, and accrued but unpaid interest on all the
Securities  to be due and payable.  If an Event of Default
relating to certain events of bankruptcy, insolvency or reorganization of the
Company occurs, the principal of, premium, if any, and interest on all the
Securities shall become immediately due and payable without any declaration or
other act on the part of the Trustee or any Holders.  Under certain
circumstances, the Holders of a majority in

     

    
      
        
          

           

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    principal
amount of the outstanding Securities  may rescind any such
acceleration with respect to the Securities and its consequences.

     

    If an
Event of Default occurs and is continuing, the Trustee shall be under no
obligation to exercise any of the rights or powers under the Indenture at the
request or direction of any of the Holders unless such Holders have offered to
the Trustee reasonable indemnity or security against any loss, liability or
expense and certain other conditions are complied with.  Except to
enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to the Indenture or the
Securities unless (i) such Holder has previously given the Trustee notice that
an Event of Default is continuing, (ii) the Holders of at least 25% in principal
amount of the outstanding Securities  have requested the Trustee in
writing to pursue the remedy, (iii) such Holders have offered the Trustee
reasonable security or indemnity against any loss, liability or expense, (iv)
the Trustee has not complied with such request within 60 days after the receipt
of the request and the offer of security or indemnity and (v) the Holders of a
majority in principal amount of the outstanding Securities  have not
given the Trustee a direction inconsistent with such request within such 60-day
period.  Subject to certain restrictions, the Holders of a majority in
principal amount of the outstanding Securities  are given the right to
direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the
Trustee.  The Trustee, however, may refuse to follow any direction
that conflicts with law or the Indenture or that the Trustee determines is
unduly prejudicial to the rights of any other Holder or that would involve the
Trustee in personal liability.  Prior to taking any action under the
Indenture, the Trustee shall be entitled to indemnification satisfactory to it
in its sole discretion against all losses and expenses caused by taking or not
taking such action.

     

    15.           Trustee Dealings with the
Company

     

    Subject
to certain limitations imposed by the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of
Securities and may otherwise deal with and collect obligations owed to it by the
Company or its Affiliates and may otherwise deal with the Company or its
Affiliates with the same rights it would have if it were not
Trustee.

     

    16.           No Recourse Against
Others

     

    No
director, officer, employee, incorporator or holder of any equity interests in
the Company or of any Note Guarantor or any direct or indirect parent
corporation, as such, shall have any liability for any obligations of the
Company or the Note Guarantors under the Securities, the Indenture or for any
claim based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of Securities by accepting a Security waives
and releases all such liability.

     

    17.           Authentication

     

    This
Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

     

    18.           Abbreviations

     

    Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN
COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint
tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

     

    19.           Governing
Law

     

    THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     

    
      
        
          

           

          B-

        

         

      

      
         

        
          

        

      

      
         

        
          
            	
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    20.           CUSIP
Numbers; ISINs

     

    The
Company has caused CUSIP numbers and ISINs to be printed on the Securities and
has directed the Trustee to use CUSIP numbers and ISINs in notices of redemption
as a convenience to the Holders.  No representation is made as to the
accuracy of such numbers either as printed on the Securities or as contained in
any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

     

    
      	
              21.

            	
              Discharge and
      Defeasance

            

    

     

    Subject
to certain conditions and as set forth in the Indenture, the Company at any time
may terminate some of or all of its obligations under the Securities and the
Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Securities to
redemption or maturity, as the case may be.

     

    The
Company will furnish to any Holder of Securities upon written request and
without charge to the Holder a copy of the Indenture which has in it the text of
this Security.

     

    
      
        
          

           

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    ASSIGNMENT
FORM

     

    To assign
this Security, fill in the form below:

     

    I or we
assign and transfer this Security to:

     

    

     

      
        

      

    

    (Print or type assignee’s name,
address and zip code)

     

    

     

      
        

      

    

    (Insert assignee’s soc. sec. or tax
I.D. No.)

     

    and
irrevocably appoint agent to transfer this Security on the books of the
Company.  The agent may substitute another to act for
him.

     

    

     

     

    
      	
               
      

            	
              Date:

            	
              Your
      Signature:

            	 	 

    

    
      	
               
      

            	
              Sign
      exactly as your name appears on the other side of this
      Security.

            

    

     

    Signature
Guarantee:

     

    
      	
              Date:    ________________________________________________                                                            

            	 
      ________________________________________________
	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor program reasonably
      acceptable to the Trustee

            	
              Signature
      of Signature Guarantee

            

    

    

    
      
        
          

           

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    OPTION
OF HOLDER TO ELECT PURCHASE

     

    If
you want to elect to have this Security purchased by the Company pursuant to
Section 4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, check
the box:

     

    
      	
              Asset
      Saleo

            	
              Change
      of Controlo

            

    

    

    If
you want to elect to have only part of this Security purchased by the Company
pursuant to Section 4.06 (Asset Sale) or 4.08 (Change of Control) of the
Indenture, state the amount ($2,000 or any integral multiple of
$1,000):

     

    $

     

    
      	
               
      

            	
              Date:

            	
              Your
      Signature:

            	 	 	 

    

    
      	
               
      

            	
              (Sign
      exactly as your name appears on the other side of this
      Security)

            

    

     

    
      	
               
      

            	
              Signature
      Guarantee:

            

    

     

    
      	
               
      

            	
              Signature
      must be guaranteed by a participant in a recognized signature guaranty
      medallion program or other signature guarantor program reasonably
      acceptable to the Trustee

            

    

     

    
      
        
          

           

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    [TO BE
ATTACHED TO GLOBAL SECURITIES]

     

    SCHEDULE
OF INCREASES OR DECREASES IN GLOBAL SECURITY

     

    The
initial principal amount of this Global Security is
$______________.  The following increases or decreases in this Global
Security have been made:

     

    
      	
              Date
      of Exchange

            	
              Amount
      of decrease in Principal Amount of this Global Security

            	
              Amount
      of increase in Principal Amount of this Global Security

            	
              Principal
      amount of this Global Security following such decrease or
      increase

            	
              Signature
      of authorized signatory of Trustee or Securities
  Custodian

            
	 
      	 
      	 
      	 
      	 
      

    

    

    
      
        
          

           

          B-

        

         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
C

     

    [FORM
OF]

     

    TRANSFEREE
LETTER OF REPRESENTATION

     

    Berry
Plastics Corporation

     

    c/o Wells
Fargo Bank, National Association,

     

    Attention:  Vice
President

     

    Ladies
and Gentlemen:

     

    This
CERTIFICATE IS DELIVERED TO REQUEST A TRANSFER OF
$[     ] PRINCIPAL AMOUNT OF THE FIRST PRIORITY SENIOR
SECURED FLOATING RATE NOTES DUE 2015 (THE “SECURITIES”) OF BERRY PLASTICS
CORPORATION (THE “ISSUER”).

     

    Upon
transfer, the Securities would be registered in the name of the new beneficial
owner as follows:

     

    Name:  ________________________

     

    Address:  _____________________

     

    Taxpayer
ID Number:  __________

     

    The
undersigned represents and warrants to you that:

     

    1)           We
are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
(3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional
“accredited investor” at least $100,000 principal amount of the Securities, and
we are acquiring the Securities not with a view to, or for offer or sale in
connection with, any distribution in violation of the Securities
Act.  We have such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of our investment in
the Securities, and we invest in or purchase securities similar to the
Securities in the normal course of our business.  We, and any accounts
for which we are acting, are each able to bear the economic risk of our or its
investment.

     

    2)           We
understand that the Securities have not been registered under the Securities Act
and, unless so registered, may not be sold except as permitted in the following
sentence.  We agree on our own behalf and on behalf of any investor
account for which we are purchasing Securities to offer, sell or otherwise
transfer such Securities prior to the date that is two years after the later of
the date of original issue and the last date on which either the Issuer or any
affiliate of such Issuer was the owner of such Securities (or any predecessor
thereto) (the “Resale Restriction Termination Date”) only (a) in the United
States to a person whom we reasonably believe is a qualified institutional buyer
(as defined in rule 144A under the Securities Act) in a transaction meeting the
requirements of Rule 144A, (b) outside the United States in an offshore
transaction in accordance with Rule 904 of Regulation S under the Securities
Act, (c) pursuant to an exemption from registration under the Securities Act
provided by Rule 144 thereunder (if applicable) or (d) pursuant to an effective
registration statement under the Securities Act, in each of cases (a) through
(d) in accordance with any applicable securities laws of any state of the United
States.  In addition, we will, and each subsequent holder is required
to, notify any purchaser of the Security evidenced hereby of the resale
restrictions set forth above.  The foregoing restrictions on resale
will not apply subsequent to the Resale Restriction Termination
Date.  If any resale or other transfer of the Securities is proposed
to be made to an institutional “accredited investor” prior to the Resale
Restriction Termination Date, the transferor shall deliver a letter from the
transferee substantially in the form of this letter to the Issuer and the
Trustee, which shall provide, among other things, that the transferee is an
institutional “accredited investor” within the meaning of Rule 501(a)(1), (2),
(3) or (7) under the Securities Act and that it is acquiring such Securities for
investment purposes and not for distribution in violation of the Securities
Act.  Each purchaser acknowledges that the Company and the Trustee
reserve the right

     

    
      
        
          

          
            	
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    prior to
the offer, sale or other transfer prior to the Resale Restriction Termination
Date of the Securities pursuant to clause 1(b), 1(c) or 1(d) above to require
the delivery of an opinion of counsel, certifications or other information
satisfactory to the Company and the Trustee.

     

    Dated:  ____________________

     

    TRANSFEREE:  ____________________,

     

     

    
      	
               
      

            	
              By:

            	 	 

    

     

    
      
        
          

          
            	
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    EXHIBIT
D

     

    [FORM OF
SUPPLEMENTAL INDENTURE]

     

    SUPPLEMENTAL
INDENTURE (this “Supplemental Indenture”) dated as
of  [               ],
among [GUARANTOR] (the “New Note Guarantor”), a subsidiary of Berry Plastics
Corporation (or its successor), a Delaware corporation (the “Issuer”) and Wells
Fargo Bank, National Association, a national banking association, as trustee
under the indenture referred to below (the “Trustee”).

     

    W I T N E
S S E T H :

     

    WHEREAS
the Issuer and the existing Note Guarantors have heretofore executed and
delivered to the Trustee an indenture (as amended, supplemented or otherwise
modified, the “Indenture”) dated as of April 21, 2008, providing initially for
the issuance of $680,600,000 in aggregate principal amount of the Issuer’s First
Priority Senior Secured Floating Rate Notes due 2015 collectively, (the
“Securities”);

     

    WHEREAS
Sections 4.11 and 12.06 of the Indenture provides that under certain
circumstances the Issuer is required to cause the New Note Guarantor to execute
and deliver to the Trustee a supplemental indenture pursuant to which the New
Note Guarantor shall unconditionally guarantee all the Issuer’s Obligations
under the Securities and the Indenture pursuant to a Guarantee on the terms and
conditions set forth herein; and

     

    WHEREAS
pursuant to Section 9.01 of the Indenture, the Trustee, the Issuer and the
existing Note Guarantors are authorized to execute and deliver this Supplemental
Indenture;

     

    NOW
THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Note
Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal
and ratable benefit of the Holders as follows:

     

    1.           Defined
Terms.  As used in this Supplemental Indenture, terms defined
in the Indenture or in the preamble or recital hereto are used herein as therein
defined, except that the term “Holders” in this Guarantee shall refer to the
term “Holders” as defined in the Indenture, the Trustee and the Notes Collateral
Agent acting on behalf of and for the benefit of such Holders.  The
words “herein,” “hereof” and “hereby” and other words of similar import used in
this Supplemental Indenture refer to this Supplemental Indenture as a whole and
not to any particular section hereof.

     

    2.           Agreement to
Guarantee.  The New Note Guarantor hereby agrees, jointly and
severally with all existing Note Guarantors (if any), to unconditionally
guarantee the Issuer’s Obligations under the Securities and the Indenture on the
terms and subject to the conditions set forth in Article 12 of the Indenture and
to be bound by all other applicable provisions of the Indenture and the
Securities and to perform all of the obligations and agreements of a Note
Guarantor under the Indenture.

     

    3.           Notices.  All
notices or other communications to the New Note Guarantor shall be given as
provided in Section 13.02 of the Indenture.

     

    4.           Ratification of Indenture;
Supplemental Indentures Part of Indenture.  Except as expressly
amended hereby, the Indenture is in all respects ratified and confirmed and all
the terms, conditions and provisions thereof shall remain in full force and
effect.  This Supplemental Indenture shall form a part of the
Indenture for all purposes, and every holder of Securities heretofore or
hereafter authenticated and delivered shall be bound hereby.

     

    5.           Governing
Law.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO PRINCIPLES OF CONFLICTS OF LAW.

     

    
      
        
          

          
            	
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    6.           Trustee Makes No
Representation.  The Trustee makes no representation as to the
validity or sufficiency of this Supplemental Indenture.

     

    7.           Counterparts.  The
parties may sign any number of copies of this Supplemental
Indenture.  Each signed copy shall be an original, but all of them
together represent the same agreement.

     

    8.           Effect of
Headings.  The Section headings herein are for convenience only
and shall not effect the construction thereof.

     

    
      
        
          

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

     

    [NEW
GUARANTOR]

     

     

    
      	
               
      

            	
              By:

            	 	 

    

    
      	
               
      

            	
              Name:

            

    

    
      	
               
      

            	
              Title:

            

    

     

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

     

    as
Trustee

     

     

    
      	
               
      

            	
              By:

            	 	 

    

    
      	
               
      

            	
              Name:

            

    

    
      	
               
      

            	
              Title:

            

    

     

    

    

    

    

    

    

    
      
        
          

          
            	
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