Document:

EX-10.26

Exhibit 10.26

[***] – Indicates confidential information. Confidential treatment requested.

Portion omitted filed separately with the Securities and Exchange Commission.

ADDENDUM NO 4 TO THE

PROTOCOL OF CEREAL PARTNERS WORLDWIDE

[***] CEREAL AGREEMENT

Nestlé S.A. (“NSA”) and its affiliated companies, excluding CPW (together “Nestlé”) has the
technology and the brands to develop, market and sell products intended primarily for consumption
[***], while CPW does not presently have the ability and does not wish to commercialize such
products. To this end the following sets forth the understanding of General Mills, Inc. (“GMI”) and
NSA with respect to the development, manufacturing and commercialization by Nestlé of [***] cereal
products as part of a line of products [***]. It is effective as of August 1, 1998.

FIRST      DEFINITION of BREAKFAST CEREALS.

The field of the JV business as defined in Addendum No 2 to the Protocol is hereby amended and the
following definitions are adopted:

“Nestlé [***] Cereals” are ready-to-eat, dry breakfast cereals developed, formulated, manufactured
and commercialized by Nestlé as part of Nestlé’s range of products [***] in accordance with the
[***] and are sold in [***].

The field of the JV business is Breakfast Cereals. “Breakfast Cereals” as used herein and in all
other JV agreements shall mean [***]. It shall not include, unless agreed upon at a later date,
[***].

SECOND      NSA and GMI agree that the following principles shall apply to the Nestlé [***]
Cereals:

a) Product development shall be directed and financed by NSA, but wherever possible shall reflect
CPW equities. These might include product shape (e.g. Cheerios “O”), production process (e.g.
puffing versus extrusion to utilize existing CPW capacity and develop toasted oat flavor notes),
and descriptive phases (e.g. “toasted oat taste”). The Nestlé Nutrition Strategic Business Division
in Vevey will be the focal point for CPW project input and represent CPW’s interests in the
development program.

b) Unless otherwise agreed by the parties, Nestlé shall ask CPW to manufacture Nestlé [***] Cereals
under a copacker agreement, using the same pricing formula as for Breakfast Cereals.

c) Nestlé shall commercialize Nestlé [***] Cereals as part of its range of products [***]. Nestlé
[***] Cereals shall be formulated, labeled, and commercialized in accordance with the [***]. Nestlé
[***] Cereals shall be sold in [***].

d) CPW shall continue to have the right to market, advertise and sell Breakfast Cereals for
consumption [***].

 

 

THIRD      NSA shall pay quarterly to GMI, for the duration of the Protocol, [***] of Nestlé
[***] Cereals, payable in U.S. Dollars. Payments are to be based on Nestlé official sales
statistics calculated in Swiss Francs, and converted into U.S. Dollars equivalent fixed at 10h00 AM
at the New York Federal Reserve Bank (as published on Reuters page 1FED) on the last business days
of each such fiscal quarter. The parties shall negotiate for the start up investment period a
deferred initial due date or a reduced scale for the [***] payment.

FOURTH      GMI, NSA and CPW shall each have the right to bring before the CPW Supervisory Board
the question of whether this Nestlé [***] Cereals business should be transferred to CPW or whether
CPW should develop the ability to produce and sell ready-to-eat dry cereals similar to Nestlé [***]
Cereals or any of CPW’s cereals primarily for consumption [***], for certain markets where CPW
wishes to commercialize said products instead of Nestlé or where Nestlé does not commercialize such
products.

This agreement shall be deemed Supplementary to the Protocol of Cereal Partners Worldwide between
GMI and NSA, executed on the 21st of November 1989, as amended. Upon execution hereof, this
Addendum No. 4 shall become an integral part of the Protocol.

Capitalized terms not defined herein shall have the meanings assigned in the Protocol.

	 	 	 	 	 
	 	Nestlé S.A.

 	 
	 	By:  	/s/ Hans Peter Frick 	 
	 
	 	General Mills, Inc.

 	 
	 	By:  	/s/ R. G. Viault 	 

ADDENDUM NO. 5 TO THE

PROTOCOL OF CEREAL PARTNERS WORLDWIDE

BREAKFAST BAR AGREEMENT AND RESTATEMENT OF THE DEFINITION

OF THE FIELD OF THE JV BUSINESS

The following sets forth the understanding of General Mills, Inc. (“GMI”) and Nestlé S.A. (“NSA”)
with respect to the entry of CPW in the Breakfast Bar business and the inclusion of Breakfast Bars
in the definition of the field of the JV business under the Protocol. It is effective as of April
1, 2000

The field of the JV business as defined in Addendum No 2 and 4 to the Protocol is hereby amended
and restated as follows:

DEFINITION OF BREAKFAST CEREALS

The field of the JV business is Breakfast Cereals. “Breakfast Cereals” as used herein and in all
other JV agreements shall mean [***]. It shall not include, unless agreed upon at a later date,
[***].

 

 

“Nestlé [***] Cereals” are ready-to-eat, dry breakfast cereals developed, formulated, manufactured
and commercialized by Nestlé as part of Nestlé’s range of products [***] in accordance with [***]
and are sold in [***].

“Breakfast Bars” means [***].

This agreement shall be deemed Supplementary to the Protocol of Cereal Partners Worldwide between
GMI and NSA executed on the 21st of November 1989, as amended. Upon execution hereof, this Addendum
No 5 shall become an integral part of the Protocol. GMI and NSA agree that the field of the JV and
the definition of Breakfast Cereals shall be determined by reference to this Addendum 5 only,
notwithstanding any different definition contained in past or future CPW agreements which does not
specifically amend Addendum 5.

Capitalized terms not defined herein shall have the meanings assigned in the Protocol.

	 	 	 	 	 
	 	NESTLÉ S.A

 	 
	 	/s/ Brabeck  	 
	 
	 	GENERAL MILLS, INC.

 	 
	 	/s/ S. R. Demeritt
 	 
	 	          June 23, 2000EX-4.1 INDENTURE

Exhibit 4.1

 

INDENTURE

Dated as of June 30, 2009

Among

OXFORD INDUSTRIES, INC.,

THE GUARANTORS NAMED ON SCHEDULE I HERETO,

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

11.375% SENIOR SECURED NOTES DUE 2015

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	310 (a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	N.A.
	(a)(4)
	 	N.A.
	(a)(5)
	 	7.10
	(b)
	 	7.10
	(c)
	 	N.A.
	311 (a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312 (a)
	 	2.05
	(b)
	 	15.03
	(c)
	 	15.03
	313 (a)
	 	7.06
	(b)(1)
	 	N.A.
	(b)(2)
	 	7.06; 7.07
	(c)
	 	7.06; 15.02 
	(d)
	 	7.06; 15.02
	314 (a)
	 	4.03; 15.02; 15.05
	(b)
	 	11.05
	(c)(1)
	 	15.04
	(c)(2)
	 	15.04
	(c)(3)
	 	N.A.
	(d)
	 	11.05
	(e)
	 	14.05
	(f)
	 	N.A.
	315 (a)
	 	7.01
	(b)
	 	7.05; 15.02
	(c)
	 	7.01
	(d)
	 	7.01
	(e)
	 	6.14
	316 (a)(last sentence)
	 	2.09
	(a)(1)(A)
	 	6.05
	(a)(1)(B)
	 	6.04
	(a)(2)
	 	N.A.
	(b)
	 	6.07
	(c)
	 	2.12; 9.04
	317 (a)(1)
	 	6.08
	(a)(2)
	 	6.12
	(b)
	 	2.04
	318 (a)
	 	15.01
	(b)
	 	N.A.
	(c)
	 	15.01

 

			
	N.A. means not applicable.
	 
	*	 	This Cross-Reference Table is not part of the Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE 1

	 
	 	 	 	 
	DEFINITIONS AND INCORPORATION BY REFERENCE

	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	27	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act
	 	 	27	 
	Section 1.04 Rules of Construction
	 	 	28	 
	Section 1.05 Acts of Holders
	 	 	28	 
	 
	 	 	 	 
	ARTICLE 2

	 
	 	 	 	 
	THE NOTES

	 
	 	 	 	 
	Section 2.01 Form and Dating; Terms
	 	 	29	 
	Section 2.02 Execution and Authentication
	 	 	30	 
	Section 2.03 Registrar and Paying Agent
	 	 	31	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	31	 
	Section 2.05 Holder Lists
	 	 	32	 
	Section 2.06 Transfer and Exchange
	 	 	32	 
	Section 2.07 Replacement Notes
	 	 	45	 
	Section 2.08 Outstanding Notes
	 	 	45	 
	Section 2.09 Treasury Notes
	 	 	46	 
	Section 2.10 Temporary Notes
	 	 	46	 
	Section 2.11 Cancellation
	 	 	46	 
	Section 2.12 Defaulted Interest
	 	 	46	 
	Section 2.13 CUSIP and ISIN Numbers
	 	 	47	 
	 
	 	 	 	 
	ARTICLE 3

	 
	 	 	 	 
	REDEMPTION

	 
	 	 	 	 
	Section 3.01 Notices to Trustee
	 	 	47	 
	Section 3.02 Selection of Notes to Be Redeemed or Purchased
	 	 	47	 
	Section 3.03 Notice of Redemption
	 	 	48	 
	Section 3.04 Effect of Notice of Redemption
	 	 	48	 
	Section 3.05 Deposit of Redemption or Purchase Price
	 	 	49	 
	Section 3.06 Notes Redeemed or Purchased in Part
	 	 	49	 
	Section 3.07 Optional Redemption
	 	 	49	 
	Section 3.08 Mandatory Redemption
	 	 	50	 
	 
	 	 	 	 
	ARTICLE 4

	 
	 	 	 	 
	COVENANTS

	 
	 	 	 	 
	Section 4.01 Payment of Principal, Premium and Interest
	 	 	50	 

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	 	 	 	Page	 
	Section 4.02 Corporate Existence
	 	 	50	 
	Section 4.03 Payment of Taxes and Other Claims
	 	 	51	 
	Section 4.04 Maintenance of Properties
	 	 	51	 
	Section 4.05 Limitation on Indebtedness
	 	 	51	 
	Section 4.06 Limitation on Restricted Payments
	 	 	55	 
	Section 4.07 Limitation on Transactions with Affiliates
	 	 	58	 
	Section 4.08 Limitation on Liens
	 	 	59	 
	Section 4.09 Limitation on Sale of Assets
	 	 	60	 
	Section 4.10 Additional Guarantees
	 	 	61	 
	Section 4.11 Purchase of Notes upon a Change of Control
	 	 	62	 
	Section 4.12 Limitation on Subsidiary Preferred Stock
	 	 	63	 
	Section 4.13 Limitation on Dividend and Other Payment Restrictions Affecting Subsidiaries
	 	 	64	 
	Section 4.14 Limitation on Unrestricted Subsidiaries
	 	 	65	 
	Section 4.15 Provision of Financial Information
	 	 	67	 
	Section 4.16 Statement by Officers as to Default
	 	 	67	 
	 
	 	 	 	 
	ARTICLE 5

	 
	 	 	 	 
	SUCCESSORS

	 
	 	 	 	 
	Section 5.01 Consolidation, Merger or Sale of Assets
	 	 	68	 
	Section 5.02 Successor Substituted
	 	 	70	 
	 
	 	 	 	 
	ARTICLE 6

	 
	 	 	 	 
	DEFAULTS AND REMEDIES

	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	70	 
	Section 6.02 Acceleration
	 	 	72	 
	Section 6.03 Other Remedies
	 	 	73	 
	Section 6.04 Waiver of Past Defaults
	 	 	73	 
	Section 6.05 Control by Majority
	 	 	73	 
	Section 6.06 Limitation on Suits
	 	 	74	 
	Section 6.07 Rights of Holders of Notes to Receive Payment
	 	 	74	 
	Section 6.08 Collection Suit by Trustee
	 	 	74	 
	Section 6.09 Restoration of Rights and Remedies
	 	 	74	 
	Section 6.10 Rights and Remedies Cumulative
	 	 	74	 
	Section 6.11 Delay or Omission Not Waiver
	 	 	75	 
	Section 6.12 Trustee May File Proofs of Claim
	 	 	75	 
	Section 6.13 Priorities
	 	 	75	 
	Section 6.14 Undertaking for Costs
	 	 	76	 
	 
	 	 	 	 
	ARTICLE 7

	 
	 	 	 	 
	TRUSTEE

	 
	 	 	 	 
	Section 7.01 Duties of Trustee
	 	 	76	 
	Section 7.02 Rights of Trustee
	 	 	77	 
	Section 7.03 Individual Rights of Trustee
	 	 	78	 

-ii- 

 

	 	 	 	 	 
	 	 	 	Page	 
	Section 7.04 Trustee’s Disclaimer
	 	 	78	 
	Section 7.05 Notice of Defaults
	 	 	78	 
	Section 7.06 Reports by Trustee to Holders of the Notes
	 	 	78	 
	Section 7.07 Compensation and Indemnity
	 	 	79	 
	Section 7.08 Replacement of Trustee
	 	 	80	 
	Section 7.09 Successor Trustee by Merger, etc
	 	 	80	 
	Section 7.10 Eligibility; Disqualification
	 	 	81	 
	Section 7.11 Preferential Collection of Claims Against Issuer
	 	 	81	 
	 
	 	 	 	 
	ARTICLE 8

	 
	 	 	 	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

	 
	 	 	 	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	81	 
	Section 8.02 Legal Defeasance and Discharge
	 	 	81	 
	Section 8.03 Covenant Defeasance
	 	 	82	 
	Section 8.04 Conditions to Legal or Covenant Defeasance
	 	 	82	 
	Section 8.05 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions
	 	 	83	 
	
Section 8.06 Repayment to Issuer
	 	 	84	 
	Section 8.07 Reinstatement
	 	 	84	 
	 
	 	 	 	 
	ARTICLE 9

	 
	 	 	 	 
	AMENDMENT, SUPPLEMENT AND WAIVER

	 
	 	 	 	 
	Section 9.01 Without Consent of Holders of Notes
	 	 	84	 
	Section 9.02 With Consent of Holders of Notes
	 	 	85	 
	Section 9.03 Compliance with Trust Indenture Act
	 	 	86	 
	Section 9.04 Revocation and Effect of Consents
	 	 	86	 
	Section 9.05 Notation on or Exchange of Notes
	 	 	87	 
	Section 9.06 Trustee to Sign Amendments, etc
	 	 	87	 
	 
	 	 	 	 
	ARTICLE 10

	 
	 	 	 	 
	INTERCREDITOR AGREEMENT

	 
	 	 	 	 
	Section 10.01 Intercreditor Agreement
	 	 	88	 
	 
	 	 	 	 
	ARTICLE 11

	 
	 	 	 	 
	COLLATERAL

	 
	 	 	 	 
	Section 11.01 Security Documents
	 	 	88	 
	Section 11.02 Collateral Agent
	 	 	88	 
	Section 11.03 Authorization of Actions to Be Taken
	 	 	89	 
	Section 11.04 Release of Collateral
	 	 	89	 
	Section 11.05 Filing, Recording and Opinions
	 	 	90	 
	Section 11.06 Powers Exercisable by Receiver or Trustee
	 	 	90	 

-iii- 

 

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE 12
	 	 	 	 
	 
	 	 	 	 
	APPLICATION OF TRUST MONIES

	 
	 	 	 	 
	Section 12.01 Collateral Account
	 	 	91	 
	Section 12.02 Withdrawal of Net Cash Proceeds in Connection with Reinvestments
	 	 	91	 
	Section 12.03 Withdrawal of Net Cash Proceeds to Fund an Offer or Release Following an Offer
	 	 	92	 
	Section 12.04 Investment of Trust Monies
	 	 	92	 
	Section 12.05 Application of other Trust Monies
	 	 	93	 
	ARTICLE 13

	 
	 	 	 	 
	GUARANTEES

	 
	 	 	 	 
	Section 13.01 Guarantee
	 	 	93	 
	Section 13.02 Limitation on Guarantor Liability
	 	 	94	 
	Section 13.03 Execution and Delivery
	 	 	95	 
	Section 13.04 Subrogation
	 	 	95	 
	Section 13.05 Benefits Acknowledged
	 	 	95	 
	Section 13.06 Release of Guarantees
	 	 	95	 
	 
	 	 	 	 
	ARTICLE 14

	 
	 	 	 	 
	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	Section 14.01 Satisfaction and Discharge
	 	 	96	 
	Section 14.02 Application of Trust Money
	 	 	96	 
	 
	 	 	 	 
	ARTICLE 15

	 
	 	 	 	 
	MISCELLANEOUS
	 
	 	 	 	 
	Section 15.01 Trust Indenture Act Controls
	 	 	97	 
	Section 15.02 Notices
	 	 	97	 
	Section 15.03 Communication by Holders of Notes with Other Holders of Notes
	 	 	98	 
	Section 15.04 Certificate and Opinion as to Conditions Precedent
	 	 	98	 
	Section 15.05 Statements Required in Certificate or Opinion
	 	 	98	 
	Section 15.06 Rules by Trustee and Agents
	 	 	99	 
	Section 15.07 No Personal Liability of Directors, Officers, Employees and Stockholders
	 	 	99	 
	Section 15.08 Governing Law
	 	 	99	 
	Section 15.09 Force Majeure
	 	 	99	 
	Section 15.10 Successors
	 	 	99	 
	Section 15.11 Severability
	 	 	99	 
	Section 15.12 Counterpart Originals
	 	 	100	 
	Section 15.13 Table of Contents, Headings, etc
	 	 	100	 
	Section 15.14 Qualification of Indenture
	 	 	100	 
	Section 15.15 USA Patriot Act
	 	 	100	 

-iv- 

 

	 	 	 	 	 
	SCHEDULES
	 	 	 	 
	 
	 	 	 	 
	Schedule I            Guarantors
	 	 	 	 
	 
	 	 	 	 
	EXHIBITS
	 	 	 	 
	 
	 	 	 	 
	Exhibit A            Form of Note
	 	 	 	 
	Exhibit B            Form of Certificate of Transfer
	 	 	 	 
	Exhibit B-1         Form of Certificate for Acquiring Institutional Accredited Investor
	 	 	 	 
	Exhibit C            Form of Certificate of Exchange
	 	 	 	 
	Exhibit D            Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors
	 	 	 	 

-i-

 

          INDENTURE, dated as of June 30, 2009, among Oxford Industries, Inc., a Georgia corporation
(the “Issuer”), the Guarantors (as defined herein) listed on the signature pages hereto,
and U.S. Bank National Association, a national banking association duly organized and existing
under the laws of the United States of America, as Trustee.

W I T N E S S E T H

          WHEREAS, the Issuer has duly authorized the creation of an issue of $150,000,000 aggregate
principal amount of 11.375% Senior Secured Notes due 2015 (the “Initial Notes”);

          WHEREAS, the Issuer and each of the Guarantors has duly authorized the execution and delivery
of this Indenture;

          WHEREAS, all things necessary (i) to make the Notes, when executed by the Issuer and
authenticated and delivered hereunder and duly issued by the Issuer, the valid obligations of the
Company, and (ii) to make this Indenture a valid agreement of the Issuer, all in accordance with
their respective terms, have been done; and

          NOW, THEREFORE, the Issuer, the Guarantors and the Trustee agree as follows for the benefit of
each other and for the equal and ratable benefit of the Holders of the Notes.

ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.01 Definitions.

          “144A Global Note” means a Global Note substantially in the form of Exhibit A
attached hereto, as the case may be, bearing the Global Note Legend, the OID Legend and the Private
Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary
or its nominee that will be issued in a denomination equal to the outstanding principal amount of
the Notes sold in reliance on Rule 144A.

          “ABL Obligations” means (x) the Indebtedness and other obligations which are secured
by a Lien on the Collateral permitted by clause (b) of the definition of “Permitted Liens” (or to
the extent designated to the Trustee in an Officer’s Certificate of the Issuer, clause (q) of the
definition of “Permitted Liens”) and (y) obligations in respect of “Bank Products” (as defined in
the Intercreditor Agreement) that are permitted to be secured pursuant to the definition of
“Permitted Liens.”

          “ABL Priority Collateral” has the meaning set forth in the Intercreditor
Agreement.

          “Acquired Indebtedness” means, with respect to any specified Person, Indebtedness of
any other Person (1) existing at the time such other Person is consolidated or merged with or into,
or became a Subsidiary of, such specified Person, whether or not such Indebtedness is incurred in
connection with, or in contemplation of, such other Person consolidating or merging with or into,
or becoming a Subsidiary of, such specified Person, or (2) assumed in connection with the
acquisition of assets from such other Person, in each case, whether or not such Indebtedness is
incurred in connection with, or in contemplation of such acquisition, as the case may be.
Notwithstanding the foregoing, Acquired Indebtedness shall not include Indebtedness of such other
Person that is extinguished, retired or repaid concurrently with such other Person becoming a
Restricted Subsidiary of, or at the time it is consolidated or merged with or into, such specified
Person.

 

 

          “Additional Interest” means all additional interest then owing pursuant to the
Registration Rights Agreement.

          “Additional Notes” means additional Notes (other than the Initial Notes and other than
Exchange Notes issued in exchange for such Initial Notes) issued from time to time under this
Indenture in accordance with Sections 2.01, 4.05 and 4.08, it being understood that any Notes
issued in exchange for or replacement of any Notes shall not be Additional Notes.

          “Adjusted Treasury Rate” means the rate per annum equal to the semiannual equivalent
yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury
Issue (expressed as a percentage of the principal amount) equal to the Comparable Treasury Price
for the redemption date, calculated in accordance with standard market practice.

          “Affiliate” means, with respect to any specified Person: (1) any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
such specified Person; (2) any other Person that owns, directly or indirectly, 10% or more of any
class or series of such specified Person’s (or any of such Person’s direct or indirect parent’s)
Capital Stock or any officer or director of any such specified Person or other Person or, with
respect to any natural person, any Person having a relationship with such Person by blood, marriage
or adoption not more remote than first cousin; or (3) any other Person 10% or more of the Voting
Stock of which is beneficially owned or held directly or indirectly by such specified Person. For
the purposes of this definition, “control” when used with respect to any specified Person
means the power to direct the management and policies of such Person, directly or indirectly,
whether through ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing.

          “Agent” means any Registrar or Paying Agent.

          “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear
and/or Clearstream that apply to such transfer or exchange.

          “Asset Sale” means any sale, issuance, conveyance, transfer, lease or other
disposition (including, without limitation, by way of merger, consolidation or sale and leaseback
transaction) (collectively, a “transfer”), directly or indirectly, in one or a series of
related transactions, of:

     (1) any Capital Stock of any Restricted Subsidiary;

     (2) all or substantially all of the properties and assets of any division or line of
business of the Issuer or any Restricted Subsidiary; or

     (3) any other properties or assets (including any transfer by written contract by the
Issuer or any Restricted Subsidiary to any other Person of any of its rights to receive all
or a portion of the proceeds from the sale by the Issuer or any Restricted Subsidiary of any
such asset or properties) of the Issuer or any Restricted Subsidiary other than in the
ordinary course of business.

          For the purposes of this definition, the term “Asset Sale” shall not include any transfer of
properties and assets

     (A) that is governed by the provisions of Section 5.01;

-2-

 

     (B) that is by the Issuer to any Restricted Subsidiary or by any Restricted Subsidiary
to the Issuer or any Restricted Subsidiary in accordance with the terms of this Indenture;
provided that no transfer of Note Priority Collateral to a Restricted Subsidiary
that is not a Guarantor shall be included in the exception created by this clause (B),

     (C) that would be within the definition of “Restricted Payment” in Section 4.06 and
would be permitted to be made as a Restricted Payment under Section 4.06,

     (D) that is a disposition of Receivables and Related Assets in a Qualified
Securitization Transaction for the Fair Market Value thereof including cash or Cash
Equivalents in an amount at least equal to 75% of the Fair Market Value thereof,

     (E) that are obsolete, damaged or worn out equipment or otherwise unsuitable for use in
the ordinary course of business,

     (F) that is the disposition of Capital Stock of an Unrestricted Subsidiary,

     (G) that is the sale or other disposition of cash or Cash Equivalents,

     (H) that is the issuance of Capital Stock by a Restricted Subsidiary to the Issuer or
to another Restricted Subsidiary (other than a Securitization Entity),

     (I) that is the sale, transfer or disposition deemed to occur in connection with
creating or granting any Liens permitted by Section 4.08,

     (J) that is the transfer of assets in connection with an Investment permitted by clause
(8) or clause (13) of the definition of “Permitted Investment,”

     (K) the Fair Market Value of which in the aggregate does not exceed $5 million in any
transaction or series of related transactions, or

     (L) consisting of the licensing of any intellectual property in the ordinary course of
business of the Issuer and its Restricted Subsidiaries.

          “Average Life to Stated Maturity” means, as of the date of determination with respect
to any Indebtedness, the quotient obtained by dividing (1) the sum of the product of (a) the number
of years from the date of determination to the date or dates of each successive scheduled principal
payment of such Indebtedness multiplied by (b) the amount of each such principal payment by (2) the
sum of all such principal payments.

          “Bankruptcy Law” means Title 11, United States Bankruptcy Code of 1978, as amended, or
any similar United States federal or state law or foreign law relating to bankruptcy, insolvency,
receivership, winding up, liquidation, reorganization or relief of debtors or any amendment to,
succession to or change in any such law.

          “Board of Directors” means the board of directors or comparable governing body of the
Issuer or any Guarantor, as the case may be, or any duly authorized committee of such board or
comparable governing body.

          “Business Day” means each day which is not a Saturday, a Sunday or a day on which
banking institutions in The City of New York, the city in which the principal corporate trust
office of the

-3-

 

Trustee is located or at a place of payment are authorized or required by law, regulation or
executive order to remain closed.

          “Capital Lease Obligation” of any Person means any obligation of such Person and its
Restricted Subsidiaries on a Consolidated basis under any capital lease of (or other agreement
conveying the right to use) real or personal property which, in accordance with GAAP, is required
to be recorded as a capitalized lease obligation.

          “Capital Stock” of any Person means any and all shares, interests, participations,
rights in or other equivalents (however designated) of such Person’s capital stock, other equity
interests whether now outstanding or issued after the Issue Date, partnership interests (whether
general or limited), limited liability company interests, 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, including any Preferred Stock, and any rights (other than debt
securities convertible into Capital Stock), warrants or options exchangeable for or convertible
into such Capital Stock.

          “Cash Equivalents” means

     (1) any evidence of Indebtedness issued or directly and fully guaranteed or insured by
the United States or any agency or instrumentality thereof,

     (2) deposits, certificates of deposit or acceptances of any financial institution that
is a member of the Federal Reserve System and whose senior unsecured debt is rated at least
“A-1” by S&P, or at least “P-1” by Moody’s or any respective successor agency,

     (3) commercial paper with a maturity of 365 days or less issued by a corporation (other
than an Affiliate of the Issuer) organized and existing under the laws of the United States
of America, any state thereof or the District of Columbia and rated at least “A-1” by S&P
and at least “P-1” by Moody’s or any respective successor agency,

     (4) repurchase agreements and reverse repurchase agreements relating to marketable
direct obligations issued or unconditionally guaranteed by the United States or issued by
any agency thereof and backed by the full faith and credit of the United States maturing
within 365 days from the date of acquisition,

     (5) demand and time deposits with a domestic commercial bank that is a member of the
Federal Reserve System that are FDIC insured, and

     (6) money market funds which invest substantially all of their assets in securities
described in the preceding clauses (1) through (5).

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

     (1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5
under the Exchange Act, except that a Person shall be deemed to have beneficial ownership of
all shares that such Person has the right to acquire, whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of more than 50% of
the total outstanding Voting Stock of the Issuer;

-4-

 

     (2) during any period of two consecutive years, individuals who at the beginning of
such period constituted the Board of Directors of the Issuer (together with any new
directors whose election to such board or whose nomination for election by the stockholders
of the Issuer was approved by a vote of a majority of the directors then still in office who
were either directors at the beginning of such period or whose election or nomination for
election was previously so approved) cease for any reason to constitute a majority of such
Board of Directors then in office;

     (3) the Issuer consolidates with or merges with or into any Person or sells, assigns,
conveys, transfers, leases or otherwise disposes of all or substantially all of its and its
Restricted Subsidiaries’ assets to any Person, or any Person consolidates with or merges
into or with the Issuer, in any such event pursuant to a transaction in which the
outstanding Voting Stock of the Issuer is converted into or exchanged for cash, securities
or other property, other than any such transaction where

     (A) the outstanding Voting Stock of the Issuer is converted into or exchanged
for (1) Voting Stock of the surviving corporation which is not Redeemable Capital
Stock or (2) cash, securities and other property (other than Capital Stock of the
surviving corporation) in an amount which could be paid by the Issuer as a
Restricted Payment under Section 4.06 (and such amount shall be treated as a
Restricted Payment for purposes of Section 4.06) and

     (B) immediately after such transaction, no “person” or “group” is the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except
that a Person shall be deemed to have beneficial ownership of all securities that
such Person has the right to acquire, whether such right is exercisable immediately
or only after the passage of time), directly or indirectly, of more than 50% of the
total outstanding Voting Stock of the surviving corporation; or

     (4) the Issuer is liquidated or dissolved or adopts a plan of liquidation or
dissolution other than in a transaction which complies with Section 5.01.

For purposes of this definition, any transfer of an equity interest of an entity that was formed
for the purpose of acquiring Voting Stock of the Issuer will be deemed to be a transfer of such
portion of such Voting Stock as corresponds to the portion of the equity of such entity that has
been so transferred.

          “Clearstream” means Clearstream Banking, Société Anonyme.

          “Collateral” means, collectively, all of the property and assets that are from time to
time subject to the Lien of (i) the Security Documents (other than the Intercreditor Agreement) or
(ii) the last sentence of Section 5.4(a) of the Intercreditor Agreement, including the Liens, if
any, required pursuant to the provisions of this Indenture.

          “Collateral Account” means the collateral account established pursuant to Section
12.01.

          “Collateral Agent” means the Trustee, in its capacity as Collateral Agent for the
holders of Notes and Permitted Additional Pari Passu Obligations, together with its successors in
such capacity.

          “Commodity Price Protection Agreement” means any forward contract, commodity swap,
commodity option or other similar agreement or arrangement relating to, or the value of which is
dependent upon, fluctuations in commodity prices and which does not increase the amount of Indebtedness

-5-

 

 or other obligations of the Issuer or any Restricted Subsidiary outstanding other than as
a result of fluctuations in commodity prices or by reason of fees, indemnities and compensation
payable thereunder.

          “Comparable Treasury Issue” means the U.S. Treasury security selected by an
Independent Investment Banker that would be used, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Notes (assuming the Notes matured on July 15, 2012).

          “Comparable Treasury Price” means either (1) the average of the Reference Treasury
Dealer Quotations for the redemption date, after excluding the highest and lowest of such Reference
Treasury Dealer Quotations or (2) if the Trustee obtains fewer than three such Reference Treasury
Dealer Quotations, the average of all quotations obtained.

          “Consolidated EBITDA” means for any period, the sum, without duplication, of
Consolidated Net Income (Loss), and (A) in each case to the extent deducted in computing
Consolidated Net Income (Loss) for such period, (i) Consolidated Interest Expense, (ii)
Consolidated Income Tax Expense and (iii) Consolidated Non-cash Charges for such period, of such
Person all determined in accordance with GAAP, less (B) (i) all non-cash items increasing or
decreasing Consolidated Net Income for such period and (ii) all cash payments during such period
relating to Consolidated Non-cash Charges added back to Consolidated Net Income (Loss) pursuant to
clause (A)(iii) or (B)(i) above in any prior period for purposes of calculating Consolidated EBITDA
for such prior period; provided that Consolidated EBITDA shall exclude (x) gain or loss on
early retirement of Indebtedness and (y) any charges incurred as a result of LIFO adjustments.

          “Consolidated Fixed Charge Coverage Ratio” of any Person means, for any period of the
most recent four fiscal quarters for which consolidated financial statements of the Issuer are
available (the “Four Quarter Period”), the ratio of

     (a) Consolidated EBITDA for such Four Quarter Period to

     (b) Consolidated Interest Expense for such Four Quarter Period (but excluding from
Consolidated Interest Expense for this purpose (i) the amortization, expensing or write-off
of deferred financing fees relating to the incurrence of Indebtedness and (ii) the accretion
of original issue discount on the Initial Notes and any Exchange Notes issued in exchange
therefor),

in the case of each of clauses (a) and (b) after giving pro forma effect to:

     (1) the incurrence of the Indebtedness giving rise to the need to make such calculation
and (if applicable) the application of the net proceeds therefrom, including to refinance
other Indebtedness, as if such Indebtedness was incurred, and the application of such
proceeds occurred, on the first day of such Four Quarter Period;

     (2) the incurrence, repayment or retirement of any other Indebtedness by the Issuer and
its Restricted Subsidiaries since the first day of such Four Quarter Period as if such
Indebtedness was incurred, repaid or retired at the beginning of such Four Quarter Period
(except that, in making such computation, the amount of Indebtedness under any revolving
credit facility shall be computed based upon the average daily balance of such Indebtedness
during such Four Quarter Period);

-6-

 

     (3) in the case of Acquired Indebtedness or any acquisition occurring at the time of
the incurrence of such Indebtedness, the related acquisition, assuming such acquisition had
been consummated on the first day of such Four Quarter Period; and

     (4) any acquisition or disposition by the Issuer and its Restricted Subsidiaries of any
company or any business or any assets out of the ordinary course of business, whether by
merger, stock purchase or sale or asset purchase or sale, or any related repayment of
Indebtedness, in each case since the first day of such Four Quarter Period and prior to the
date of determination, assuming such acquisition or disposition had been consummated on the
first day of such Four Quarter Period;

provided that

     (1) in making such computation, the Consolidated Interest Expense attributable to
interest on any Indebtedness computed on a pro forma basis and (A) bearing a floating
interest rate shall be computed as if the rate in effect on the date of computation had been
the applicable rate for the entire Four Quarter Period and (B) which was not outstanding
during the Four Quarter Period which bears, at the option of such Person, a fixed or
floating rate of interest, shall be computed by applying at the option of such Person either
the fixed or floating rate;

     (2) in making such computation, the Consolidated Interest Expense of such Person
attributable to 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 Four Quarter Period; and

     (3) whenever pro forma effect is to be given to an acquisition or disposition, such pro
forma calculation will be determined in accordance with Article 11 of Regulation S-X under
the Securities Act or any successor provision.

          “Consolidated Income Tax Expense” of any Person means, for any period, the provision
for federal, state, local and foreign income taxes of such Person and its consolidated Restricted
Subsidiaries for such period as determined in accordance with GAAP.

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

     (a) the interest expense of such Person and its Restricted Subsidiaries for such
period, on a consolidated basis, including, without limitation,

     (1) amortization of debt discount,

     (2) the net cost (benefit) associated with Interest Rate Agreements (including
amortization of discounts),

     (3) the interest portion of any deferred payment obligation,

     (4) all commissions, discounts and other fees and charges owed with respect to
letters of credit and bankers’ acceptance financing and

     (5) accrued interest, plus

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     (b) (1) the interest component of the Capital Lease Obligations paid, accrued and/or
scheduled to be paid or accrued by such Person and its Restricted Subsidiaries during such
period and

     (2) all capitalized interest of such Person and its Restricted Subsidiaries, plus

     (c) the interest expense under any Guaranteed Debt of such Person and any Restricted
Subsidiary to the extent not included under clause (a)(4) above, whether or not paid by such
Person or its Restricted Subsidiaries, plus

     (d) dividend requirements of the Issuer with respect to Redeemable Capital Stock and of
any Restricted Subsidiary with respect to Preferred Stock (except, in either case, dividends
payable solely in shares of Qualified Capital Stock of the Issuer or such Restricted
Subsidiary, as the case may be).

          “Consolidated Net Income (Loss)” of any Person means, for any period, the consolidated
net income (or loss) of such Person and its Restricted Subsidiaries for such period on a
consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in
calculating such net income (or loss), by excluding, without duplication,

     (1) all extraordinary gains or losses net of taxes (less all fees and expenses relating
thereto),

     (2) the portion of net income (or loss) of such Person and its Restricted Subsidiaries
on a consolidated basis allocable to minority interests in unconsolidated Persons or
Unrestricted Subsidiaries to the extent that cash dividends or distributions have not
actually been received by such Person or one of its consolidated Restricted Subsidiaries,

     (3) any gain or loss, net of taxes, realized upon the termination of any employee
pension benefit plan,

     (4) gains or losses, net of taxes (less all fees and expenses relating thereto), in
respect of dispositions of assets other than in the ordinary course of business,

     (5) the net income of any Restricted Subsidiary to the extent that the declaration of
dividends or similar distributions by that Restricted Subsidiary of that income is not at
the time permitted, directly or indirectly, by operation of the terms of its charter, any
agreement or applicable law, except to the extent of the amount of dividends or other
distributions actually paid to the Issuer or any Restricted Subsidiary,

     (6) any net gain or loss arising from the acquisition of any securities or
extinguishment, under GAAP, of any Indebtedness of such Person,

     (7) any non-cash goodwill or intangible asset impairment charges resulting from the
application of SFAS No. 142,

     (8) any non-cash charges incurred relating to the underfunded portion of any pension
plan,

     (9) any non-cash charges resulting from the application of SFAS No. 123,

-8-

 

     (10) all deferred financing costs written off, and premiums paid, in connection with
any early extinguishment of Indebtedness,

     (11) any non-cash compensation charges or other non-cash expenses or charges arising
from the grant of or issuance or repricing of stock, stock options or other equity-based
awards or any amendment, modification, substitution or change of any such stock, stock
options or other equity-based awards, and

     (12) any non-cash impairment charges recorded with respect to long-lived assets in
connection with the application of SFAS No. 144 and any non-cash write-downs attributable to
joint ventures held by the Issuer or any of its Restricted Subsidiaries under APB 19.

          “Consolidated Net Tangible Assets” of any Person means, for any period, the total
amount of assets (less applicable reserves and other properly deductible items) after deducting (1)
all current liabilities and (2) all goodwill, trade names, trademarks, patents, unamortized debt
discount and expense and other intangibles, all as set forth on the Issuer’s most recent
consolidated balance sheet and computed in accordance with GAAP.

          “Consolidated Non-cash Charges” of any Person means, for any period, the aggregate
depreciation, amortization and other non-cash charges of such Person and its Restricted
Subsidiaries on a Consolidated basis for such period, as determined in accordance with GAAP
(excluding any non-cash charge which requires an accrual or reserve for cash charges for any future
period).

          “Consolidated Total Debt” means, as of any date of determination, an amount equal to
the aggregate principal amount of all outstanding Indebtedness of the Issuer and its Restricted
Subsidiaries that would be required to be reflected on a consolidated balance sheet (excluding the
notes thereto) of the Issuer as of such date.

          “Consolidated Total Debt Ratio” means, as of any date of determination, the ratio of
(a) Consolidated Total Debt on the date of determination to (b) Consolidated EBITDA of the Issuer
and its Restricted Subsidiaries for the most recent four fiscal quarter period, ending prior to
such date for which the Issuer has consolidated financial statements available, in each case with
such pro forma adjustments to Consolidated EBITDA as are consistent with the pro forma adjustment
provisions set forth in the definition of “Consolidated Fixed Charge Coverage Ratio.”

          “Corporate Trust Office of the Trustee” shall be at the address of the Trustee
specified in Section 15.02 or such other address as to which the Trustee may give notice to the
Holders and the Issuer.

          “Credit Agreement” means the Second Amended and Restated Credit Agreement, dated
August 15, 2008, as amended, among the Issuer and certain of its Subsidiaries, as borrowers
thereunder, the Issuer’s Subsidiaries which are guarantors thereof, certain lenders party thereto,
and certain agents party thereto, together with the related documents, instruments and agreements
executed in connection therewith (including, without limitation, any guarantees, notes and security
documents), as such agreement, in whole or in part, in one or more instances, may be amended,
renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise
modified from time to time (including increasing the amount available for borrowing thereunder and
including refinancing with the same or different lenders or agents or any agreement extending the
maturity of, or increasing the commitments to extend, Indebtedness or any commitment to extend such
Indebtedness, and any successor or replacement agreements and whether by the same or any other
agent, lender or group of lenders).

-9-

 

          “Credit Facility” means one or more credit or debt facilities (including, without
limitation, any credit or debt facilities provided under the Credit Agreement), commercial paper
facilities or other debt instruments, indentures or agreements providing for revolving credit
loans, term loans, letters of credit or other debt obligations, in each case, as amended, restated,
modified, renewed, refunded, restructured, supplemented, replaced or refinanced in whole or in part
from time to time, including without limitation any amendment increasing the amount of Indebtedness
incurred or available to be borrowed thereunder, extending the maturity of any Indebtedness
incurred thereunder or contemplated thereby or deleting, adding or substituting one or more parties
thereto (whether or not such added or substituted parties are banks or other lenders).

          “Currency Hedging Agreements” means foreign exchange contracts, currency swap
agreements or other similar agreements or arrangements designed to protect against the fluctuations
in currency values and that relate to (1) Indebtedness of the Issuer or any Restricted Subsidiary
and/or (2) obligations to purchase or sell assets or properties; provided, however,
that such Currency Hedging Agreements do not increase the Indebtedness or other obligations of the
Issuer or any Restricted Subsidiary outstanding other than as a result of fluctuations in foreign
currency exchange rates or by reason of fees, indemnities and compensation payable thereunder.

          “Custodian” means the Paying Agent and Registrar, as custodian with respect to the
Notes in global form, or any successor entity thereto.

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

          “Definitive Note” means a certificated Note registered in the name of the Holder
thereof and issued in accordance with Section 2.06(c), (e) or (f), substantially in the form of
Exhibit A hereto, except that such Note shall not bear the Global Note Legend and shall not
have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

          “Depositary” means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section 2.03 as the Depositary with respect to the Notes,
and any and all successors thereto appointed as Depositary hereunder and having become such
pursuant to the applicable provision of this Indenture.

          “Designated Non-cash Consideration” means the Fair Market Value, as set forth in an
Officer’s Certificate, of non-cash consideration received by the Issuer or any of its Restricted
Subsidiaries in connection with an Asset Sale.

          “Discharge of ABL Obligations” has the meaning provided in the Intercreditor
Agreement.

          “Disinterested Director” means, with respect to any transaction or series of related
transactions, a member of the Board of Directors of the Issuer who does not have any material
direct or indirect financial interest in or with respect to such transaction or series of related
transactions.

          “Equity Offering” means any public offering or private sale for cash of common stock
(other than Redeemable Capital Stock) of the Issuer (other than public offerings with respect to a
registration statement on Form S-4 (or any successor form covering substantially the same
transactions), Form S-8 (or any successor form covering substantially the same transactions) or
otherwise relating to equity securities issuable under any employee benefit plan of the Issuer).

-10-

 

          “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute, and the rules and regulations promulgated by the SEC thereunder.

          “Exchange Notes” means any notes issued in exchange for the Notes pursuant to Section
2.06(f).

          “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.

          “Exchange Offer Registration Statement” has the meaning set forth in the Registration
Rights Agreement.

          “Excluded Subsidiary” shall mean any Person acquired or formed after August 15, 2008
which (i) is a Subsidiary of the Issuer, (ii) is not a wholly owned Subsidiary of the Issuer and
(iii) is (or whose parent is) contractually prohibited from becoming a Guarantor or granting a Lien
in favor of the Collateral Agent or having its Capital Stock pledged to secure the Indenture
Obligations and any Permitted Additional Pari Passu Obligations; provided, however,
if such Subsidiary is not contractually prohibited from taking all of the actions described in
clause (iii) above, then it shall be deemed an “Excluded Subsidiary” only with respect to the
actions which it or its parent is contractually prohibited from taking.

          “Fair Market Value” means, with respect to any asset or property, the sale value that
would be obtained in an arm’s-length transaction between an informed and willing seller under no
compulsion to sell and an informed and willing buyer under no compulsion to buy. Fair Market Value
shall be determined by the Board of Directors of the Issuer acting in good faith.

          “Foreign Subsidiary” means any Restricted Subsidiary of the Issuer that (x) is not
organized under the laws of the United States or any state thereof or the District of Columbia, or
(y) was organized under the laws of the United States or any state thereof or the District of
Columbia and that has no material assets other than Capital Stock of one or more foreign entities
of the type described in clause (x) above and is not a guarantor of Indebtedness under the Credit
Agreement (including, without limitation, Oxford Private Limited of Delaware, Inc.).

          “GAAP” means generally accepted accounting principles 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.

          “Global Note Legend” means the legend set forth in Section 2.06(g)(ii), which is
required to be placed on all Global Notes issued under this Indenture.

          “Global Notes” means, individually and collectively, each of the Restricted Global
Notes and the Unrestricted Global Notes, substantially in the form of Exhibit A hereto,
issued in accordance with Section 2.01, 2.06(b), 2.06(d), 2.06(f) or 2.06(j).

          “Government Securities” 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

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     (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 either case, are not callable or redeemable at the option of the issuers 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 Government Securities or a specific payment
of principal of or interest on any such Government Securities 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 Government
Securities or the specific payment of principal of or interest on the Government Securities
evidenced by such depository receipt.

          “Guarantee” means the guarantee by any Guarantor of the Issuer’s Indenture Obligations
made pursuant to Article 13.

          “Guaranteed Debt” of any Person means, without duplication, all Indebtedness of any
other Person referred to in the definition of “Indebtedness” below guaranteed directly or
indirectly in any manner by such Person, or in effect guaranteed directly or indirectly by such
Person through an agreement

     (1) to pay or purchase such Indebtedness or to advance or supply funds for the payment
or purchase of such Indebtedness,

     (2) to purchase, sell or lease (as lessee or lessor) property, or to purchase or sell
services, primarily for the purpose of enabling the debtor to make payment of such
Indebtedness or to assure the holder of such Indebtedness against loss,

     (3) to supply funds to, or in any other manner invest in, the debtor (including any
agreement to pay for property or services without requiring that such property be received
or such services be rendered),

     (4) to maintain working capital or equity capital of the debtor, or otherwise to
maintain the net worth, solvency or other financial condition of the debtor or to cause such
debtor to achieve certain levels of financial performance or

     (5) otherwise to assure a creditor against loss;

provided that the term “guarantee” shall not include endorsements for collection or
deposit, in either case in the ordinary course of business.

          “Guarantor” means any Subsidiary which is a Guarantor of the Notes, including any
Person that is required after the Issue Date to execute a Guarantee of the Notes pursuant to
Section 4.10, until a successor replaces such party pursuant to Section 5.01 and, thereafter, shall
mean such successor.

          “Holder” means the Person in whose name a Note is registered in the Note Register.

          “IAI Global Note” means a Global Note substantially in the form of Exhibit A
hereto bearing the Global Note Legend, the Private Placement Legend, and the OID Legend and
deposited with or on behalf of and registered in the name of the Depositary or its nominee that
will be issued in a denomination equal to the outstanding principal amount of the Notes sold to Institutional
Accredited Investors.

-12-

 

          “Indebtedness” means, with respect to any Person, without duplication,

     (1) all indebtedness of such Person for borrowed money or for the deferred purchase
price of property or services, excluding any trade payables and other accrued current
liabilities arising in the ordinary course of business, but including, without limitation,
all obligations, contingent or otherwise, of such Person in connection with any letters of
credit issued under letter of credit facilities, acceptance facilities or other similar
facilities,

     (2) all obligations of such Person evidenced by bonds, notes, debentures or other
similar instruments,

     (3) all indebtedness created or arising under any conditional sale or other title
retention agreement with respect to property acquired by such Person (even if the rights and
remedies of the seller or lender under such agreement in the event of default are limited to
repossession or sale of such property), but excluding trade payables arising in the ordinary
course of business,

     (4) all obligations under Interest Rate Agreements, Currency Hedging Agreements or
Commodity Price Protection Agreements of such Person (the amount of any such obligations to
be equal at any time to the termination value of such agreement or arrangement giving rise
to such obligation that would be payable by such Person at such time),

     (5) all Capital Lease Obligations of such Person,

     (6) all Indebtedness referred to in clauses (1) through (5) above of other Persons, the
payment of which is secured by (or for which the holder of such Indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien upon or with respect to property
(including, without limitation, accounts and contract rights) owned by such Person, even
though such Person has not assumed or become liable for the payment of such Indebtedness,

     (7) all Guaranteed Debt of such Person,

     (8) all Redeemable Capital Stock issued by such Person valued at the greater of its
voluntary or involuntary maximum fixed repurchase price plus accrued and unpaid dividends,

     (9) all amounts outstanding and other obligations of such Person in respect of a
Qualified Securitization Transaction, and

     (10) attributable debt with respect to sale and leaseback transactions.

For purposes hereof, the “maximum fixed repurchase price” of any Redeemable Capital Stock
which does not have a fixed repurchase price shall be calculated in accordance with the terms of
such Redeemable Capital Stock as if such Redeemable Capital Stock were purchased on any date on
which Indebtedness shall be required to be determined pursuant to this Indenture, and if such price
is based upon, or measured by, the Fair Market Value of such Redeemable Capital Stock, such Fair
Market Value to be determined in good faith by the Board of Directors of the issuer of such
Redeemable Capital Stock.

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

          “Indenture Obligations” means the obligations of the Issuer and any other obligor
under this Indenture or under the Notes, including any Guarantor, to pay principal of, premium, if
any, and interest when due and payable, and all other amounts due or to become due under or in
connection with this

-13-

 

Indenture, the Notes and the performance of all other obligations to the
Trustee and the Holders under this Indenture and the Notes, according to the respective terms
thereof.

          “Independent Investment Banker” means one of the Reference Treasury Dealers that the
Issuer appoints.

          “Indirect Participant” means a Person who holds a beneficial interest in a Global Note
through a Participant.

          “Initial Notes” has the meaning set forth in the recitals hereto.

          “Initial Purchasers” means Banc of America Securities LLC, SunTrust Robinson Humphrey,
Credit Suisse Securities (USA) LLC and the other initial purchasers party to the purchase agreement
related to the Notes.

          “Insolvency or Liquidation Proceeding” means:

     (1) any case commenced by or against the Issuer or any Guarantor under any Bankruptcy
Law for the relief of debtors, any other proceeding for the reorganization, recapitalization
or adjustment or marshalling of the assets or liabilities of the Issuer or any Guarantor,
any receivership or assignment for the benefit of creditors relating to the Issuer or any
Guarantor or any similar case or proceeding relative to the Issuer or any Guarantor or its
creditors, as such, in each case whether or not voluntary;

     (2) any liquidation, dissolution, marshalling of assets or liabilities or other winding
up of or relating to the Issuer or any Guarantor, in each case whether or not voluntary and
whether or not involving bankruptcy or insolvency; or

     (3) any other proceeding of any type or nature in which substantially all claims of
creditors of the Issuer or any Guarantor are determined and any payment or distribution is
or may be made on account of such claims.

          “Institutional Accredited Investor” means an institution that is an “accredited
investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who is not also a
QIB.

          “Intercreditor Agreement” means the Intercreditor Agreement dated as of June 30, 2009
by and among SunTrust Bank, as initial ABL Agent, U.S. Bank National Association, as notes agent,
the Trustee, the Issuer and the Guarantors, as amended, modified, restated, supplemented or
replaced from time to time.

          “Interest Payment Date” means January 15 and July 15 of each year to Maturity.

          “Interest Rate Agreements” means interest rate protection agreements (including,
without limitation, interest rate swaps, caps, floors, collars and similar agreements) and/or other
types of interest rate hedging agreements or arrangements designed to protect against or manage
exposure to fluctuations in interest rates in respect of Indebtedness of the Issuer or any
Restricted Subsidiary.

          “Investment” means, with respect to any Person, directly or indirectly, any advance,
loan (including guarantees) or other extension of credit or capital contribution to (by means of
any transfer of cash or other property to others or any payment for property or services for the
account or use of others), or any purchase, acquisition or ownership by such Person of any Capital
Stock, bonds, notes, debentures

-14-

 

or other securities issued by, any other Person and all other items
that would be classified as investments on a balance sheet prepared in accordance with GAAP.
“Investment” shall exclude direct or indirect advances to customers or suppliers in the ordinary
course of business that are, in conformity with GAAP, recorded as accounts receivable, prepaid
expenses or deposits on the Issuer’s or any Restricted Subsidiary’s balance sheet, endorsements for
collection or deposit arising in the ordinary course of business and extensions of trade credit on
commercially reasonable terms in accordance with normal trade practices. If the Issuer or any
Restricted Subsidiary of the Issuer sells or otherwise disposes of any Capital Stock of any direct
or indirect Subsidiary of the Issuer such that, after giving effect to any such sale or
disposition, such Person is no longer a Subsidiary of the Issuer (other than the sale of all of the
outstanding Capital Stock of such Subsidiary), the Issuer will be deemed to have made an Investment
on the date of such sale or disposition equal to the Fair Market Value of the Issuer’s Investments
in such Subsidiary that were not sold or disposed of in an amount determined as provided in Section
4.09.

          “Issue Date” means the original issue date of the Notes under this Indenture.

          “Issuer” means Oxford Industries, Inc, a corporation incorporated under the laws of
the State of Georgia, until a successor Person shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter “Issuer” shall mean such successor Person.

          “Letter of Transmittal” means the letter of transmittal to be prepared by the Issuer
and sent to all Holders of the Notes for use by such Holders in connection with the Exchange Offer.

          “Lien” means any mortgage or deed of trust, charge, pledge, lien (statutory or
otherwise), privilege, security interest, assignment, deposit, arrangement, easement,
hypothecation, claim, preference, priority or other encumbrance upon or with respect to any
property of any kind (including any conditional sale, capital lease or other title retention
agreement, any leases in the nature thereof, and any agreement to give any security interest), real
or personal, movable or immovable, now owned or hereafter acquired. A Person will be deemed to own
subject to a Lien any property which it has acquired or holds subject to the interest of a vendor
or lessor under any conditional sale agreement, Capital Lease Obligation or other title retention
agreement.

          “Maturity” means, when used with respect to the Notes, the date on which the principal
of the Notes becomes due and payable as therein provided or as provided in this Indenture, whether
at Stated Maturity, the Offer Date or the redemption date and whether by declaration of
acceleration, Offer in respect of Excess Proceeds, Change of Control Offer in respect of a Change
of Control, call for redemption or otherwise.

          “Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency
business.

          “Net Cash Proceeds” means

     (a) with respect to any Asset Sale by any Person, the proceeds thereof (without
duplication in respect of all Asset Sales) in the form of cash or Cash Equivalents including
payments in respect of deferred payment obligations when received in the form of, or stock
or other assets when disposed of for, cash or Cash Equivalents (except to the extent that
such obligations are financed or sold with recourse to the Issuer or any Restricted
Subsidiary) net of

     (1) brokerage commissions and other reasonable fees and expenses (including
fees and expenses of counsel and investment bankers) related to such Asset Sale,

-15-

 

     (2) provisions for all taxes payable as a result of such Asset Sale,

     (3) except in the case of Liens ranking junior to the Liens securing the Notes,
payments made to retire Indebtedness where payment of such Indebtedness is secured
by the assets or properties the subject of such Asset Sale,

     (4) in the case of an Asset Sale by a Restricted Subsidiary, distributions and
other payments required to be made to minority shareholders, partners or members of
such Restricted Subsidiary as a result of such Asset Sale,

     (5) amounts required to be paid to any Person (other than the Issuer or any
Restricted Subsidiary) owning a beneficial interest in the assets subject to the
Asset Sale and

     (6) appropriate amounts to be provided by the Issuer or any Restricted
Subsidiary, as the case may be, as a reserve, in accordance with GAAP, against any
liabilities associated with such Asset Sale and retained by the Issuer or any
Restricted Subsidiary, as the case may be, after such Asset Sale, including, without
limitation, pension and other post-employment benefit liabilities, liabilities
related to environmental matters and liabilities under any indemnification
obligations associated with such Asset Sale, all as reflected in an Officer’s
Certificate delivered to the Trustee; and

     (b) with respect to any issuance or sale of Subordinated Indebtedness, Capital Stock or
options, warrants or rights to purchase Capital Stock, or debt securities or Capital Stock
that have been converted into or exchanged for Capital Stock as referred to in Section 4.06,
the proceeds of such issuance or sale in the form of cash or Cash Equivalents including
payments in respect of deferred payment obligations when received in the form of, or stock
or other assets when disposed of for, cash or Cash Equivalents (except to the extent that
such obligations are financed or sold with recourse to the Issuer or any Restricted
Subsidiary), net of attorney’s fees, accountant’s fees and brokerage, consultation,
underwriting and other fees and expenses actually incurred in connection with such issuance
or sale and net of taxes paid or payable as a result thereof.

          “Non-recourse Indebtedness” means, with respect to any Person, Indebtedness of such
Person as to which the Issuer and any Restricted Subsidiary may not be directly or indirectly
liable (by virtue of the Issuer or any such Restricted Subsidiary being the primary obligor on,
guarantor of, or otherwise liable in any respect to, such Indebtedness), and which, upon the
occurrence of a default with respect to such Indebtedness, does not result in, or permit any holder
of any Indebtedness of the Issuer or any Restricted Subsidiary to declare, a default on such
Indebtedness of the Issuer or any Restricted Subsidiary or cause the payment of Indebtedness of the
Issuer or any Restricted Subsidiary to be accelerated or payable prior to its Stated Maturity.

          “Non-U.S. Person” means a Person who is not a U.S. Person.

          “Note Liens” means all Liens in favor of the Collateral Agent on Collateral securing
the Indenture Obligations and any Permitted Additional Pari Passu Obligations.

          “Notes” means any Note authenticated and delivered under this Indenture including
Initial Notes, Exchange Notes and any Additional Notes.

-16-

 

          “Note Priority Collateral” means Collateral constituting Note Priority Collateral
under the Intercreditor Agreement.

          “Obligations” means any principal, premium, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the
rate provided for in the documentation with respect thereto, whether or not such interest is an
allowed claim under applicable state, federal or foreign law), penalties, fees, indemnifications,
reimbursements (including reimbursement obligations with respect to letters of credit and banker’s
acceptances), damages and other liabilities, and guarantees of payment of such principal, interest,
penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the
documentation governing any Indebtedness.

          “Offering Memorandum” means the offering memorandum, dated June 23, 2009, relating to
the sale of the Initial Notes.

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

          “Officer’s Certificate” means a certificate signed on behalf of the Issuer by an
Officer of the Issuer or on behalf of a Guarantor by an Officer of such Guarantor (or, if
applicable, such Guarantor’s sole member or general partner) as applicable, that meets the
requirements set forth in this Indenture.

          “OID Legend” means the legend set forth in Section 2.06(g)(iv) to be placed on all
Notes issued under this Indenture that have more than a de minimis amount of original issue
discount for U.S. federal income tax purposes.

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

          “Pari Passu Indebtedness” means any Indebtedness of the Issuer that is not
contractually subordinated to the Notes.

          “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a
Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with
respect to DTC, shall include Euroclear and Clearstream).

          “Permitted Additional Pari Passu Obligations” means obligations under any Additional
Notes or any other Indebtedness (whether or not consisting of Additional Notes) secured by the Note
Liens; provided that if, after giving effect to the Incurrence thereof, the aggregate
principal amount of Permitted Additional Pari Passu Obligations issued following the Issue Date
would exceed $50 million (excluding any Indebtedness secured by the Note Liens in reliance on
clause (q) of the definition of “Permitted Liens”), then immediately after giving effect to the
incurrence of such Permitted Additional Pari Passu Obligations, the Consolidated Total Debt Ratio
of the Issuer and its Restricted Subsidiaries would be less than or equal to 3.25:1.0;
provided that (i) the trustee or agent under such Permitted Additional Pari Passu
Obligation executes a joinder agreement to the Security Agreement in the form attached thereto
agreeing to be bound thereby and (ii) the Issuer has designated such Indebtedness as “Permitted
Additional Pari Passu Obligations” under the Security Agreement.

          “Permitted Business” means the business conducted by the Issuer and its Restricted
Subsidiaries on the Issue Date and the business reasonably related, complementary or ancillary
thereto, including reasonably related extensions or expansions thereof.

-17-

 

          “Permitted Investment” means

     (1) Investments in the Issuer or any Restricted Subsidiary (other than a Securitization
Entity and other than a transfer of Note Priority Collateral to a Restricted Subsidiary that
is not a Guarantor) or any Person which, as a result of such Investment, (a) becomes a
Restricted Subsidiary (other than a Securitization Entity) or (b) is merged or consolidated
with or into, or transfers or conveys substantially all of its assets to, or is liquidated
into, the Issuer or any Restricted Subsidiary (other than a Securitization Entity);

     (2) Indebtedness of the Issuer or a Restricted Subsidiary described under clauses (3),
(4), (5), (6) and (7) of the definition of “Permitted Indebtedness”;

     (3) Investments in any of the Notes;

     (4) Investments in Cash Equivalents;

     (5) Investments acquired by the Issuer or any Restricted Subsidiary in connection with
an Asset Sale permitted by Section 4.09 to the extent such Investments are non-cash proceeds
as permitted thereunder;

     (6) Investments by the Issuer or a Restricted Subsidiary in a Securitization Entity in
connection with a Qualified Securitization Transaction, which Investment consists of a
retained interest in transferred Receivables and Related Assets;

     (7) (x) Investments in existence on the Issue Date and (y) an Investment in any Person
to the extent such Investment replaces or refinances an Investment covered by clause (x)
above or this clause (y) in an amount not exceeding the amount of the Investment being
replaced or refinanced; provided, however, that the Investment under clause
(y) is on terms and conditions no less favorable to the Issuer and its Restricted
Subsidiaries taken as a whole than the Investment being replaced or refinanced;

     (8) Investments in a Related Business Entity in the aggregate amount outstanding at any
one time of up to 2.5% of the Issuer’s Consolidated Net Tangible Assets;

     (9) Investments in a Person whose primary business is a Permitted Business acquired in
exchange for the issuance of Capital Stock (other than Redeemable Capital Stock of the
Issuer or a Restricted Subsidiary or Preferred Stock of a Restricted Subsidiary) or acquired
with the net cash proceeds received by the Issuer after the Issue Date from the issuance and
sale of Capital Stock (other than Redeemable Stock of the Issuer or a Restricted Subsidiary
or Preferred Stock of a Restricted Subsidiary); provided that such Net Cash Proceeds
are used to make such Investment within 30 days of the receipt thereof and the amount of all
such Net Cash Proceeds will be excluded from Section 4.06(a)(3)(B);

     (10) Investments in prepaid expenses, negotiable instruments held for collection and
lease, utility and worker’s compensation, performance and other similar deposits provided to
third parties in the ordinary course of business;

     (11) loans or advances to employees of the Issuer in the ordinary course of business
for bona fide business purposes of the Issuer and its Restricted Subsidiaries (including
travel, entertainment and moving expenses) made in compliance with applicable law;

-18-

 

     (12) any Investments received in good faith in settlement or compromise of obligations
of trade creditors or customers that were incurred in the ordinary course of business,
including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy
or insolvency of any trade creditor or customer; and

     (13) other Investments in the aggregate amount outstanding at any one time of up to $15
million.

In connection with any assets or property contributed or transferred to any Person as an
Investment, such property and assets shall be equal to the Fair Market Value at the time of
Investment.

          “Permitted Lien” means:

     (a) any Lien existing as of the Issue Date on Indebtedness existing on the Issue Date;

     (b) any Lien with respect to the Credit Agreement or any other Credit Facility so long
as the aggregate principal amount outstanding under the Credit Agreement or any successor
Credit Facility does not exceed the principal amount which could be borrowed under clause
(1) of the definition of “Permitted Indebtedness”;

     (c) any Lien arising by reason of

     (1) any judgment, decree or order of any court, so long as such Lien is
promptly adequately bonded and any appropriate legal proceedings which may have been
duly initiated for the review of such judgment, decree or order shall not have been
finally terminated or the period within which such proceedings may be initiated
shall not have expired;

     (2) taxes not yet delinquent or which are being contested in good faith;

     (3) security for payment of workers’ compensation or other insurance;

     (4) good faith deposits in connection with tenders, leases or contracts (other
than contracts for the payment of money);

     (5) zoning restrictions, easements, licenses, reservations, title defects,
rights of others for rights of way, utilities, sewers, electric lines, telephone or
telegraph lines, and other similar purposes, provisions, covenants, conditions,
waivers, restrictions on the use of property or minor irregularities of title (and
with respect to leasehold interests, mortgages, obligations, liens and other
encumbrances incurred, created, assumed or permitted to exist and arising by,
through or under a landlord or owner of the leased property, with or without consent
of the lessee), none of which materially impairs the use of any parcel of property
material to the operation of the business of the Issuer or any Subsidiary or the
value of such property for the purpose of such business;

     (6) deposits to secure public or statutory obligations, or in lieu of surety or
appeal bonds; or

     (7) operation of law in favor of mechanics, carriers, warehousemen, landlords,
materialmen, laborers, employees or suppliers, incurred in the ordinary course of

-19-

 

business for sums which are not yet delinquent or are being contested in good
faith by negotiations or by appropriate proceedings which suspend the collection
thereof;

     (d) any Lien securing Acquired Indebtedness created prior to (and not created in
connection with or in contemplation of) the incurrence of such Indebtedness by the Issuer or
any Subsidiary and which does not extend to any assets other than the assets acquired;

     (e) any Lien to secure the performance bids, trade contracts, leases (including,
without limitation, statutory and common law landlord’s liens), statutory obligations,
surety and appeal bonds, letters of credit and other obligations of a like nature and
incurred in the ordinary course of business of the Issuer or any Subsidiary;

     (f) any Lien securing obligations under Interest Rate Agreements, Commodity Price
Protection Agreements and Currency Hedging Agreements;

     (g) any Lien securing Capital Lease Obligations or Purchase Money Obligations incurred
in accordance with this Indenture (including clause (8) of the definition of “Permitted
Indebtedness”);

     (h) 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;

     (i) banker’s Liens, rights of set-off or similar rights and remedies as to deposit
accounts or other funds maintained with a depositary institution; provided that:

     (1) such deposit account is not a dedicated cash collateral account and is not
subject to restrictions against access by the Issuer in excess of those set forth by
regulations promulgated by the Federal Reserve Board or other applicable law; and

     (2) such deposit account is not intended by the Issuer or any Restricted
Subsidiary to provide collateral to the depository institution;

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

     (k) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing
to the Issuer or another Restricted Subsidiary (other than a Securitization Entity);

     (l) Liens securing the Notes and the Guarantees issued on the Issue Date (and any
Exchange Notes and related Guarantees issued in exchange therefor);

     (m) Liens on assets transferred to a Securitization Entity or on assets of a
Securitization Entity, in either case incurred in connection with a Qualified Securitization
Transaction;

     (n) Liens on property of any Foreign Subsidiary securing Indebtedness of a Foreign
Subsidiary permitted by Section 4.05;

     (o) Liens securing Permitted Additional Pari Passu Obligations;

-20-

 

     (p) any extension, renewal, refinancing or replacement, in whole or in part, of any
Lien described in the foregoing clauses (a) through (m) and this clause (p) so long as no
additional collateral is granted as security thereby; and

     (q) in addition to the items referred to in clauses (a) through (p) above, Liens of the
Issuer and its Restricted Subsidiaries on Indebtedness in an aggregate amount which, when
taken together with the aggregate amount of all other Liens on Indebtedness incurred
pursuant to this clause (q) and then outstanding, will not exceed 7.5% of the Issuer’s
Consolidated Net Tangible Assets at any one time outstanding.

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

          “plan of reorganization” means any plan of reorganization, plan of liquidation,
agreement for composition, or other type of plan of arrangement proposed in or in connection with
any Insolvency or Liquidation Proceeding.

          “Preferred Stock” means, with respect to any Person, any Capital Stock of any class or
classes (however designated) which is preferred as to the payment of dividends or distributions, or
as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of
such Person, over the Capital Stock of any other class in such Person.

          “Private Placement Legend” means the legend set forth in Section 2.06(g)(i) to be
placed on all Notes issued under this Indenture, except where otherwise permitted by the provisions
of this Indenture.

          “Purchase Money Obligation” means any Indebtedness secured by a Lien on assets related
to the business of the Issuer and any additions and accessions thereto, which are purchased or
constructed by the Issuer at any time after the Issue Date; provided that

     (1) the security agreement or conditional sales or other title retention contract
pursuant to which the Lien on such assets is created (collectively a “Purchase Money
Security Agreement”) shall be entered into within 360 days after the purchase or
substantial completion of the construction of such assets and shall at all times be confined
solely to the assets so purchased or acquired, any additions and accessions thereto and any
proceeds therefrom,

     (2) at no time shall the aggregate principal amount of the outstanding Indebtedness
secured thereby be increased, except in connection with the purchase of additions and
accessions thereto and except in respect of fees and other obligations in respect of such
Indebtedness, and

     (3) (A) the aggregate outstanding principal amount of Indebtedness secured thereby
(determined on a per asset basis in the case of any additions and accessions) shall not at
the time such Purchase Money Security Agreement is entered into exceed 100% of the purchase
price to the Issuer of the assets subject thereto or (B) the Indebtedness secured thereby
shall be with recourse solely to the assets so purchased or acquired, any additions and
accessions thereto and any proceeds therefrom.

          “Purchase Money Security Agreement” has the meaning ascribed thereto under the
definition of “Purchase Money Obligation.”

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          “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

          “Qualified Capital Stock” of any Person means any and all Capital Stock of such Person
other than Redeemable Capital Stock.

          “Qualified Securitization Transaction” means any transaction or series of transactions
that may be entered into by the Issuer or any Restricted Subsidiary pursuant to which (a) the
Issuer or any Restricted Subsidiary may sell, convey or otherwise transfer to a Securitization
Entity its interests in Receivables and Related Assets and (b) such Securitization Entity transfers
to any other Person, or grants a security interest in, such Receivables and Related Assets,
pursuant to a transaction customary in the industry which is used to achieve a transfer of
financial assets under GAAP.

          “Receivables and Related Assets” means any account receivable (whether now existing or
arising hereafter) of the Issuer or any Restricted Subsidiary, and any assets related thereto
including all collateral securing such accounts receivable, all contracts and contract rights 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 an asset securitization transaction
involving accounts receivable.

          “Record Date” for the interest or Additional Interest, if any, payable on any
applicable Interest Payment Date means January 1 or July 1 (whether or not a Business Day) next
preceding such Interest Payment Date.

          “Redeemable Capital Stock” means any Capital Stock that, either by its terms or by the
terms of any security into which it is convertible or exchangeable (at the option of the holders
thereof), is, or upon the happening of an event or passage of time would be, required to be
redeemed (at the option of the holders thereof) prior to the Maturity of the Notes (other than upon
a change of control of or sale of assets by the Issuer in circumstances where the Holders of the
Notes would have similar rights), or is convertible into or exchangeable for debt securities at any
time prior to the Maturity of the Notes at the option of the holder thereof.

          “Redemption Date” when used with respect to any Note to be redeemed pursuant to any
provision in this Indenture means the date fixed for such redemption pursuant to this Indenture.

          “Reference Treasury Dealer” means each of Banc of America Securities LLC (and its
successors) and any other nationally recognized investment banking firm specified from time to time
by the Issuer that is a primary U.S. government securities dealer.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal
amount) quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30 p.m., New
York time, on the third business day preceding the redemption date.

          “Registration Rights Agreement” means the Registration Rights Agreement related to the
Notes, dated as of the Issue Date, among the Issuer, the Guarantors and the Initial Purchasers, as
such agreement may be amended, modified or supplemented from time to time and, with respect to any
Additional Notes, one or more registration rights agreements between the Issuer and the other
parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time,
relating to rights given by the Issuer to the purchasers of Additional Notes to have the exchange
or resale of such Additional Notes registered under the Securities Act.

-22-

 

          “Regulation S” means Regulation S promulgated under the Securities Act.

          “Regulation S Global Note” means a Global Note substantially in the form of
Exhibit A hereto, bearing the Global Note Legend, the OID Legend and the Private Placement
Legend and deposited with or on behalf of and registered in the name of the Depositary or its
nominee, issued in a denomination equal to the outstanding principal amount of the Notes sold in
reliance on Regulation S.

          “Related Business Entity” means

     (1) any corporation at least 35% of the outstanding voting power of the Voting Stock of
which is owned or controlled, directly or indirectly, by the Issuer, or

     (2) any other Person in which the Issuer, directly or indirectly, has at least 35% of
the outstanding partnership, equity or other similar interests,

which, in the case of (1) or (2) above, conducts its principal business as a Permitted Business.

          “Replacement Assets” means properties or assets to replace the properties or assets
that were the subject of an Asset Sale or properties and assets that will be used in businesses of
the Issuer or its Restricted Subsidiaries, as the case may be, existing at the time such assets are
sold or Capital Stock of a Person, the principal portion of whose assets consist of such property
or assets; provided that in the case of a sale of Note Priority Collateral such replacement
properties or assets constitute Collateral (and in the case of a sale of Tommy Bahama Collateral,
such properties or assets constitute Note Priority Collateral).

          “Responsible Officer” means, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, including any managing director, director, vice
president, assistant vice president, 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 who shall have direct
responsibility for the administration of this Indenture.

          “Restricted Definitive Note” means a Definitive Note bearing the Private Placement
Legend and the OID Legend.

          “Restricted Global Note” means a Global Note bearing the Private Placement Legend and
the OID Legend.

          “Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S.

          “Restricted Subsidiary” means any Subsidiary of the Issuer that has not been
designated by the Board of Directors of the Issuer by a board resolution delivered to the Trustee
as an Unrestricted Subsidiary pursuant to and in compliance with Section 4.14.

          “Rule 144” means Rule 144 promulgated under the Securities Act.

          “Rule 144A” means Rule 144A promulgated under the Securities Act.

          “Rule 903” means Rule 903 promulgated under the Securities Act.

          “Rule 904” means Rule 904 promulgated under the Securities Act.

-23-

 

          “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any
successor to its rating agency business.

          “SEC” means the U.S. Securities and Exchange Commission.

          “Securities Act” means the Securities Act of 1933, as amended, or any successor
statute, and the rules and regulations promulgated by the SEC thereunder.

          “Securitization Entity” means a Wholly Owned Restricted Subsidiary (or another Person
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 Receivables and Related Assets) that, in the case of a
Wholly Owned Restricted Subsidiary, engages in no activities other than in connection with the
financing of Receivables and Related Assets and that is designated by the Board of Directors of the
Issuer (as provided below) as a Securitization Entity and:

     (a) no portion of the Indebtedness or any other obligations (contingent or otherwise)
of which:

     (1) is guaranteed by the Issuer or any Restricted Subsidiary (excluding
Guarantees (other than the principal of, and interest on, Indebtedness) pursuant to
Standard Securitization Undertakings);

     (2) is recourse to or obligates the Issuer or any Restricted Subsidiary (other
than such Securitization Entity) in any way other than pursuant to Standard
Securitization Undertakings; or

     (3) subjects any property or asset of the Issuer or any Restricted Subsidiary
(other than such Securitization Entity), 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 Restricted Subsidiary (other than such
Securitization Entity) has any material contract, agreement, arrangement or understanding
other than on terms no less favorable to the Issuer or such Restricted Subsidiary than those
that might be obtained at the time from Persons that are not Affiliates of the Issuer, other
than fees payable in the ordinary course of business in connection with servicing accounts
receivable of such entity;

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

     (d) such entity is a qualified special purpose entity in accordance with GAAP.

          Any designation of a Subsidiary as a Securitization Entity 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 the designation and an Officer’s Certificate certifying that the
designation complied with the preceding conditions and was permitted by this Indenture.

          “Security Agreement” means the Security Agreement, dated as of June 30, 2009, by and
among the Issuer, the Guarantors, the Trustee and the Collateral Agent, as the same may be amended,
modified, restated, supplemented or replaced from time to time in accordance with its terms.

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          “Security Documents” means the Security Agreement, the Intercreditor Agreement and all
of the security agreements, pledges, collateral assignments, mortgages, deeds of trust, trust deeds
or other instruments evidencing or creating or purporting to create any security interests in favor
of the Collateral Agent for its benefit and for the benefit of the Trustee and the Holders of the
Notes and the holders of any Permitted Additional Pari Passu Obligations, in all or any portion of
the Collateral, as amended, modified, restated, supplemented or replaced from time to time.

          “Shelf Registration Statement” means the Shelf Registration Statement as defined in
the Registration Rights Agreement.

          “Significant Subsidiary” means, at any time, any Restricted Subsidiary that qualifies
at such time as a “significant subsidiary” within the meaning of Regulation S-X promulgated by the
SEC (as in effect on the Issue Date).

          “Standard Securitization Undertakings” means representations, warranties, covenants
and indemnities entered into by the Issuer or any Restricted Subsidiary that are reasonably
customary in an accounts receivable securitization transaction.

          “Stated Maturity” means, when used with respect to any Indebtedness or any installment
of interest thereon, the dates specified in such Indebtedness as the fixed date on which the
principal of such Indebtedness or such installment of interest, as the case may be, is due and
payable.

          “Subordinated Indebtedness” means Indebtedness of the Issuer or a Guarantor that is
contractually subordinated in right of payment to the Notes or a Guarantee, as the case may be.

          “Subsidiary” of a Person means

     (1) any corporation more than 50% of the outstanding voting power of the Voting Stock
of which is owned or controlled, directly or indirectly, by such Person or by one or more
other Subsidiaries of such Person, or by such Person and one or more other Subsidiaries
thereof, or

     (2) any limited partnership of which such Person or any Subsidiary of such Person is a
general partner, or

     (3) any other Person in which such Person, or one or more other Subsidiaries of such
Person, or such Person and one or more other Subsidiaries, directly or indirectly, have more
than 50% of the outstanding partnership or similar interests or have the power, by contract
or otherwise, to direct or cause the direction of the policies, management and affairs
thereof.

          “Tommy Bahama Collateral” means any Note Priority Collateral (i) consisting of the
Tommy Bahama trademarks and related rights or (ii) which was acquired with the proceeds of the Net
Cash Proceeds from any Asset Sale of Note Priority Collateral described in clause (i).

          “Transfer Agent” means the Person specified in Section 2.03 as the Transfer Agent, and
any and all successors thereto, to receive on behalf of the Registrar any Notes or Exchange Notes
for transfer or exchange pursuant to this Indenture.

          “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, or any
successor statute.

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          “Trustee” means U.S. Bank National Association, as trustee, until a successor replaces
it in accordance with Section 7.08 and thereafter means the successor serving hereunder.

          “Trust Monies” means all cash and Cash Equivalents:

     (1) received by the Issuer upon the release of Collateral from the Lien of this
Indenture or the Security Documents in connection with any Asset Sale; or

     (2) received by the Collateral Agent as proceeds of any sale or other disposition of
all or any part of the Collateral by or on behalf of the Collateral Agent or any collection,
recovery, receipt, appropriation or other realization of or from all or any part of the
Collateral pursuant to this Indenture or any of the Security Documents;

provided, however, that Trust Monies shall in no event include any property
deposited with the Trustee for any redemption, Legal Defeasance or Covenant Defeasance of Notes,
for the satisfaction and discharge of this Indenture or to pay the purchase price of Notes and any
Permitted Additional Pari Passu Obligations pursuant to an Offer in accordance with the terms of
this Indenture and shall not include any cash received or applicable by the Trustee in payment of
its fees and expenses (or, prior to the Discharge of ABL Obligations, any amounts attributable to
ABL Priority Collateral).

          “UCC” means the Uniform Commercial Code as in effect from time to time in the State of
New York; provided, however, that, at any time, if by reason of mandatory
provisions of law, any or all of the perfection or priority of the Collateral Agent’s security
interest in any item or portion of the Collateral is governed by the Uniform Commercial Code as in
effect in a jurisdiction other that the State of New York, the term “UCC” shall mean the Uniform
Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the
provisions hereof relating to such perfection or priority and for purposes of definitions relating
to such provisions.

          “Unrestricted Definitive Note” means one or more Definitive Notes that do not bear and
are not required to bear the Private Placement Legend.

          “Unrestricted Global Note” means a permanent Global Note, substantially in the form of
Exhibit A attached hereto, that bears the Global Note Legend and the OID Legend and that
has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is
deposited with or on behalf of and registered in the name of the Depositary, representing Notes
that do not bear the Private Placement Legend.

          “Unrestricted Subsidiary” means any Subsidiary of the Issuer (other than a Guarantor)
designated as such pursuant to and in compliance with Section 4.14.

          “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act.

          “Voting Stock” of a Person means Capital Stock of such Person of the class or classes
pursuant to which the holders thereof have the general voting power under ordinary circumstances to
elect at least a majority of the Board of Directors, managers or trustees of such Person
(irrespective of whether or not at the time Capital Stock of any other class or classes shall have
or might have voting power by reason of the happening of any contingency).

          “Wholly Owned Restricted Subsidiary” means a Restricted Subsidiary all the Capital
Stock of which is owned by the Issuer or another Wholly Owned Restricted Subsidiary (other than
directors’ qualifying shares).

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Section 1.02 Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	“Authentication Order”
	 	 	2.02	 
	“Change of Control Offer”
	 	 	4.11	 
	“Change of Control Purchase Date”
	 	 	4.11	 
	“Change of Control Purchase Notice”
	 	 	4.11	 
	“Change of Control Purchase Price”
	 	 	4.11	 
	“Covenant Defeasance”
	 	 	8.03	 
	“Designation Amount”
	 	 	4.14	 
	“DTC”
	 	 	2.03	 
	“Event of Default”
	 	 	6.01	 
	“Excess Proceeds”
	 	 	4.09	 
	“incur”
	 	 	4.05	 
	“Legal Defeasance”
	 	 	8.02	 
	“Note Register”
	 	 	2.03	 
	“Offer”
	 	 	4.09	 
	“Paying Agent”
	 	 	2.03	 
	“Permitted Indebtedness”
	 	 	4.05	 
	“Permitted Payment”
	 	 	4.06	 
	“refinancing”
	 	 	4.05	 
	“Registrar”
	 	 	2.03	 
	“Required Filing Date”
	 	 	4.15	 
	“Restricted Payment”
	 	 	4.06	 
	“Surviving Entity”
	 	 	5.01	 
	“Surviving Guarantor Entity”
	 	 	5.01	 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is
incorporated by reference in and made a part of this Indenture.

          The following Trust Indenture Act terms used in this Indenture have the following meanings:

     “indenture securities” means the Notes;

     “indenture security holder” means a Holder of a Note;

     “indenture to be qualified” means this Indenture;

     “indenture trustee” or “institutional trustee” means the Trustee; and

     “obligor” on the Notes and the Guarantees means the Issuer and the Guarantors,
respectively, and any successor obligor upon the Notes and the Guarantees, respectively.

          All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by
Trust Indenture Act reference to another statute or defined by SEC rule under the Trust Indenture
Act have the meanings so assigned to them.

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

     (e) “will” shall be interpreted to express a command;

     (f) provisions apply to successive events and transactions;

     (g) references to sections of, or rules under, the Securities Act shall be deemed to
include substitute, replacement or successor sections or rules adopted by the SEC from time
to time;

     (h) unless the context otherwise requires, any reference to an “Article,” “Section” or
“clause” refers to an Article, Section or clause, as the case may be, of this Indenture; and

     (i) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not any particular Article, Section, clause or other
subdivision.

Section 1.05 Acts of Holders.

          (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or
of a writing appointing any such agent, or the holding by any Person of a Note, shall be sufficient
for any purpose of this Indenture and (subject to Section 7.01) conclusive in favor of the Trustee
and the Issuer, if made in the manner provided in this Section 1.05.

          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by or on behalf of any legal entity other than an individual, such certificate or affidavit
shall also constitute proof of the authority of the Person executing the same. The fact and date
of the execution of any such instrument or writing, or the authority of the Person executing the
same, may also be proved in any other manner that the Trustee deems sufficient.

          (c) The ownership of Notes shall be proved by the Note Register.

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          (d) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note
issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in
respect of any action taken, suffered or omitted by the Trustee or the Issuer in reliance thereon,
whether or not notation of such action is made upon such Note.

          (e) The Issuer may, in the circumstances permitted by the Trust Indenture Act, set a record
date for purposes of determining the identity of Holders entitled to give any request, demand,
authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to
any action by vote or consent authorized or permitted to be given or taken by Holders. Unless
otherwise specified, if not set by the Issuer prior to the first solicitation of a Holder made by
any Person in respect of any such action, or in the case of any such vote, prior to such vote, any
such record date shall be the later of 30 days prior to the first solicitation of such consent or
the date of the most recent list of Holders furnished to the Trustee prior to such solicitation.

          (f) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard
to any particular Note may do so with regard to all or any part of the principal amount of such
Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount. Any notice given or action taken by a
Holder or its agents with regard to different parts of such principal amount pursuant to this
paragraph shall have the same effect as if given or taken by separate Holders of each such
different part.

          (g) Without limiting the generality of the foregoing, a Holder, including DTC, that is the
Holder of a Global Note may make, give or take, by a proxy or proxies duly appointed in writing,
any request, demand, authorization, direction, notice, consent, waiver or other action provided in
this Indenture to be made, given or taken by Holders, and DTC, as the Holder of a Global Note, may
provide its proxy or proxies to the beneficial owners of interests in any such Global Note through
such depositary’s standing instructions and customary practices.

          (h) The Issuer may fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any Global Note held by DTC entitled under the procedures of such
depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request,
demand, authorization, direction, notice, consent, waiver or other action provided in this
Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on
such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled
to make, give or take such request, demand, authorization, direction, notice, consent, waiver or
other action, whether or not such Holders remain Holders after such record date. No such request,
demand, authorization, direction, notice, consent, waiver or other action shall be valid or
effective if made, given or taken more than 90 days after such record date.

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating; Terms.

          (a) General. The Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of
its authentication. The Notes shall be in minimum denominations of $2,000 and integral multiples
of $1,000 in excess thereof.

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          (b) Global Notes. Notes issued in global form shall be substantially in the form of
Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges
of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A attached hereto (but without the Global Note Legend
thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto).
Each Global Note shall represent such of the outstanding Notes as shall be specified in the
“Schedule of Exchanges of Interests in the Global Note” attached thereto and each shall provide
that it shall represent up to the aggregate principal amount of Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee or the
Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder
thereof as required by Section 2.06.

          (c) [Reserved]

          (d) Terms. The aggregate principal amount of Notes that may be authenticated and
delivered under this Indenture is unlimited.

          The terms and provisions contained in the Notes shall constitute, and are hereby expressly
made, a part of this Indenture and the Issuer, the Guarantors and the Trustee, by their execution
and delivery of this Indenture, expressly agree to such terms and provisions and to be bound
thereby. However, to the extent any provision of any Note conflicts with the express provisions of
this Indenture, the provisions of this Indenture shall govern and be controlling.

          The Notes shall be subject to repurchase by the Issuer pursuant to an Offer as provided in
Section 4.09 or a Change of Control Offer as provided in Section 4.11. The Notes shall not be
redeemable, other than as provided in Article 3.

          Additional Notes ranking pari passu with the Initial Notes may be created and issued from time
to time by the Issuer without notice to or consent of the Holders and shall be consolidated with
and form a single class with the Initial Notes and shall have the same terms as to status,
redemption or otherwise (other than with respect to the purchase price thereof and the date from
which the interest accrues) as the Initial Notes; provided that the Issuer’s ability to
issue Additional Notes shall be subject to the Issuer’s compliance with Section 4.05 and Section
4.08. Except as described under Article 9, the Notes offered by the Issuer and any Additional
Notes subsequently issued under this Indenture will be treated as a single class for all purposes
under this Indenture, including waivers, amendments, redemptions and offers to purchase. Unless
the context requires otherwise, references to “Notes” for all purposes of this Indenture include
any Additional Notes that are actually issued. Any Additional Notes shall be issued with the
benefit of an indenture supplemental to this Indenture.

          (e) Euroclear and Clearstream Procedures Applicable. 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 Global Notes that are held
by Participants through Euroclear or Clearstream.

Section 2.02 Execution and Authentication.

          At least one Officer shall execute the Notes on behalf of the Issuer by manual or facsimile
signature.

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

          A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose until authenticated substantially in the form provided for in Exhibit A
attached hereto, by the manual signature of the Trustee. The signature shall be conclusive
evidence that the Note has been duly authenticated and delivered under this Indenture.

          On the Issue Date, the Trustee shall, upon receipt of an issuer order (an “Authentication
Order”), authenticate and deliver the Initial Notes. In addition, at any time, from time to
time, the Trustee shall upon an Authentication Order authenticate and deliver any (i) Additional
Notes and (ii) Exchange Notes or private exchange notes for issue only in an Exchange Offer or a
private exchange, respectively, pursuant to a Registration Rights Agreement, for a like principal
amount of Initial Notes. Such Authentication Order shall specify the amount of the Notes to be
authenticated and, in the case of any issuance of Additional Notes pursuant to Section 2.01, shall
certify that such issuance is in compliance with Section 4.05 and Section 4.08.

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

Section 2.03 Registrar and Paying Agent.

          The Issuer shall maintain an office or agency where Notes may be presented for registration of
transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented
for payment (“Paying Agent”), including an office or agency for such purposes in the City
of New York, which shall initially be the corporate trust office of the Trustee located in the City
of New York. The Registrar shall keep a register of the Notes (“Note Register”) and of
their transfer and exchange. The Issuer may appoint one or more co-registrars and one or more
additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying
Agent” includes any additional paying agent. The Issuer may change any Paying Agent or Registrar
without prior notice to any Holder. The Issuer shall notify the Trustee in writing of the name and
address of any Agent not a party to this Indenture. If the Issuer fails to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee shall act as such. The Issuer or any of
its Subsidiaries may act as Paying Agent or Registrar.

          The Issuer initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes.

          The Issuer initially appoints the Trustee to act as the Paying Agent, Registrar and Transfer
Agent for the Notes and the Registrar to act as Custodian with respect to the Global Notes.

Section 2.04 Paying Agent to Hold Money in Trust.

          The Issuer shall require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by the
Paying Agent for the payment of principal, premium, if any, or Additional Interest, if any, or
interest on the Notes, and will notify the Trustee of any default by the Issuer in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money
held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held
by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer
or a Subsidiary) shall have no further

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liability for the money. If the Issuer or a Subsidiary acts as Paying Agent, it shall
segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as
Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the
Trustee shall serve as Paying Agent for the Notes.

Section 2.05 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 all Holders and shall otherwise comply with
Trust Indenture Act Section 312(a). If the Trustee is not the Registrar, the Issuer shall furnish
to the Trustee at least two 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 the Holders of Notes and the Issuer shall
otherwise comply with Trust Indenture Act Section 312(a).

Section 2.06 Transfer and Exchange.

          (a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this
Section 2.06, a Global Note may be transferred, in whole and not in part, only to another nominee
of the Depositary or to a successor Depositary or a nominee of such successor Depositary. A
beneficial interest in a Global Note may not be exchanged for a Definitive Note unless (i) the
Depositary (x) notifies the Issuer that it is unwilling or unable to continue as Depositary for
such Global Note or (y) has ceased to be a clearing agency registered under the Exchange Act and,
in either case, a successor Depositary is not appointed by the Issuer within 90 days, (ii) there
shall have occurred and be continuing a Default with respect to the Notes or (iii) the Issuer in
its sole discretion executes and delivers an Officer’s Certificate stating that such Global Note
shall be so exchangeable. Upon the occurrence of any of the preceding events in (i), (ii) or (iii)
above, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein
will be registered in the names, and issued in any approved denominations, requested by or on
behalf of the Depositary (in accordance with its customary procedures). Global Notes also may be
exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10. Every Note
authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof,
pursuant to this Section 2.06 or Section 2.07 or 2.10, shall be authenticated and delivered in the
form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the
preceding events in (i), (ii) or (iii) above and pursuant to Section 2.06(c), (e) or (f). A Global
Note may not be exchanged for another Note other than as provided in this Section 2.06(a);
provided, however, beneficial interests in a Global Note may be transferred and
exchanged as provided in Sections 2.06(b), (c), (f) and (j).

          (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer
and exchange of beneficial interests in the Global Notes shall be effected through the Depositary,
in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Notes 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 Note. Beneficial
interests in any Restricted Global Note may be transferred to Persons who take delivery
thereof in the form of a beneficial interest in the same Restricted Global Note in
accordance with the transfer restrictions set forth in the Private Placement Legend;
provided, however, that prior to the expiration of the Restricted Period,
transfers of beneficial interests in the Regulation S Global Note may not be made to a U.S.
Person or for the account or benefit of a U.S. Person (other than an Initial

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Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to
Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note. No written orders or instructions shall be required to be delivered to the
Registrar to effect the transfers described in this Section 2.06(b)(i).

     (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes.
In connection with all transfers and exchanges of beneficial interests that are not subject
to Section 2.06(b)(i), the transferor of such beneficial interest must deliver to the
Registrar either (A) (1) a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with the Applicable Procedures directing the Depositary to
credit or cause to be credited a beneficial interest in another Global Note in an amount
equal to the beneficial interest to be transferred or exchanged and (2) instructions given
in accordance with the Applicable Procedures containing information regarding the
Participant account to be credited with such increase or (B) (1) a written order from a
Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an
amount equal to the beneficial interest to be transferred or exchanged and (2) instructions
given by the Depositary to the Registrar containing information regarding the Person in
whose name such Definitive Note shall be registered to effect the transfer or exchange
referred to in (1) above; provided that in no event shall Definitive Notes be issued
upon the transfer or exchange of beneficial interests in the Regulation S Global Note prior
to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any
certificates required pursuant to Rule 903; provided, further, that in no
event shall a beneficial interest in an Unrestricted Global Note be credited, or an
Unrestricted Definitive Note be issued, to a Person who is an affiliate (as defined in Rule
144) of the Issuer. Upon consummation of an Exchange Offer by the Issuer in accordance with
Section 2.06(f), the requirements of this Section 2.06(b)(ii) shall be deemed to have been
satisfied upon receipt by the Registrar of the instructions contained in the Letter of
Transmittal delivered by the Holder of such beneficial interests in the Restricted Global
Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial
interests in Global Notes contained in this Indenture and the Notes or otherwise applicable
under the Securities Act, the Trustee shall adjust the principal amount of the relevant
Global Note(s) pursuant to Section 2.06(h).

     (iii) Transfer of Beneficial Interests to Another Restricted Global Note. A
beneficial interest in any Restricted Global Note may be transferred to a Person who takes
delivery thereof in the form of a beneficial interest in another Restricted Global Note if
the transfer complies with the requirements of Section 2.06(b)(ii) and the Registrar
receives the following:

     (A) if the transferee will take delivery in the form of a beneficial interest
in the 144A Global Note, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications in item (1) thereof;

     (B) if the transferee will take delivery in the form of a beneficial interest
in the Regulation S Global Note, then the transferor must deliver a certificate in
the form of Exhibit B hereto, including the certifications in item (2)
thereof; or

     (C) if the transferee will take delivery in the form of a beneficial interest
in a IAI Global Note, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3)(d) of Exhibit B, if applicable.

     (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any
Restricted Global

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Note may be exchanged by any Holder thereof for a beneficial interest in an
Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form
of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies
with the requirements of Section 2.06(b)(ii) and:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the holder of the beneficial
interest to be transferred, in the case of an exchange, or the transferee, in the
case of a transfer, certifies in the applicable Letter of Transmittal that it is not
(1) a broker-dealer, (2) a Person participating in the distribution of the Exchange
Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Issuer;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement;

     (D) the Registrar receives the following:

     (1) if the holder of such beneficial interest in a Restricted Global
Note proposes to exchange such beneficial interest for a beneficial interest
in an Unrestricted Global Note, a certificate from such Holder substantially
in the form of Exhibit C hereto, including the certifications in
item (1)(a) thereof; or

     (2) if the holder of such beneficial interest in a Restricted Global
Note 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 Note, a certificate from such holder in the form of
Exhibit B hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures 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 Private Placement Legend are no longer required in order
to maintain compliance with the Securities Act; or

     (E) such transfer is effected pursuant to an automatic exchange in accordance
with Section 2.06(j) of this Indenture.

     If any such transfer is effected pursuant to subparagraph (B), (D) or (E) above at a
time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and,
upon receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the aggregate principal amount of beneficial interests transferred pursuant to subparagraph
(B), (D) or (E) above.

     Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or
transferred to Persons who take delivery thereof in the form of, a beneficial interest in a
Restricted Global Note.

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     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

                    (i) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes.
If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon the
occurrence of any of the events in paragraph (i), (ii) or (iii) of Section 2.06(a) and receipt by
the Registrar of the following documentation:

     (A) if the holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a Restricted Definitive Note, a certificate from such
holder substantially in the form of Exhibit C hereto, including the certifications
in item (2)(a) thereof;

     (B) if such beneficial interest is being transferred to a QIB in accordance with Rule
144A, a certificate substantially in the form of Exhibit B hereto, including the
certifications in item (1) thereof;

     (C) if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate substantially in
the form of Exhibit B hereto, including the certifications in item (2) thereof;

     (D) if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144, a certificate
substantially in the form of Exhibit B hereto, including the certifications in item
(3)(a) thereof;

     (E) if such beneficial interest is being transferred to the Issuer or any of its
Restricted Subsidiaries, a certificate substantially in the form of Exhibit B
hereto, including the certifications in item (3)(b) thereof;

     (F) if such beneficial interest is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate substantially in the form of
Exhibit B hereto, including the certifications in item (3)(c) thereof, or

     (G) if such beneficial interest 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 to the
effect set forth in Exhibit B hereto, including the certifications, certificates and
Opinion of Counsel required by item (3)(d) thereof, if applicable;

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h), and the Issuer shall execute and the Trustee shall
authenticate and mail to the Person designated in the instructions a Definitive Note in the
applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names
and in such authorized denomination or denominations as the holder of such beneficial interest
shall instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names
such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the Private Placement
Legend and shall be subject to all restrictions on transfer contained therein.

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          (ii) Beneficial Interests in Regulation S Global Note to Definitive Notes.
Notwithstanding Sections 2.06(c)(i)(A) and (C), a beneficial interest in the Regulation S Global
Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery
thereof in the form of a Definitive Note prior to the expiration of the Restricted Period.

          (iii) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive
Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such
beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to
a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only upon the
occurrence of any of the events in subsection (i), (ii) or (iii) of Section 2.06(a) and if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the holder of such beneficial interest, in the
case of an exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person
participating in the distribution of the Exchange Notes or (3) a Person who is an affiliate
(as defined in Rule 144) of the Issuer;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement;

     (D) the Registrar receives the following:

     (1) if the holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for an Unrestricted Definitive Note, a
certificate from such holder substantially in the form of Exhibit C hereto,
including the certifications in item (1)(b) thereof; or

     (2) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such
holder substantially in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or
if the Applicable Procedures 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 Private
Placement Legend are no longer required in order to maintain compliance with the Securities
Act; or

     (E) such transfer is effected pursuant to an automatic exchange in accordance with
Section 2.06(j) of this Indenture.

          (iv) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive
Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to
exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to
a Person who takes delivery thereof in the form of a Definitive Note, then, upon the occurrence of
any of the events in subsection (i), (ii) or (iii) of Section 2.06(a) and satisfaction of the
conditions set forth in Section 2.06(b)(ii), the Trustee shall cause the aggregate principal amount
of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h), and the Issuer
shall execute and the Trustee shall authenticate and mail to

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 the Person designated in the instructions a Definitive Note in the applicable principal
amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section
2.06(c)(iv) shall be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest shall instruct the Registrar through
instructions from or through the Depositary and the Participant or Indirect Participant. The
Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this
Section 2.06(c)(iv) shall not bear the Private Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

          (i) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes.
If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial
interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who
takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon
receipt by the Registrar of the following documentation:

     (A) if the Holder of such Restricted Definitive Note proposes to exchange such Note for
a beneficial interest in a Restricted Global Note, a certificate from such Holder
substantially in the form of Exhibit C hereto, including the certifications in item
(2)(b) thereof;

     (B) if such Restricted Definitive Note is being transferred to a QIB in accordance with
Rule 144A, a certificate substantially in the form of Exhibit B hereto, including
the certifications in item (1) thereof;

     (C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a certificate substantially in
the form of Exhibit B hereto, including the certifications in item (2) thereof;

     (D) if such Restricted Definitive Note is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule 144, a
certificate substantially in the form of Exhibit B hereto, including the
certifications in item (3)(a) thereof;

     (E) if such Restricted Definitive Note is being transferred to the Issuer or any of its
Restricted Subsidiaries, a certificate substantially in the form of Exhibit B
hereto, including the certifications in item (3)(b) thereof;

     (F) if such Restricted Definitive Note is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate substantially in the form of
Exhibit B hereto, including the certifications in item (3)(c) thereof, or

     (G) if such Restricted Definitive Note 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
to the effect set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable;

the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the
aggregate principal amount of, in the case of clause (A) above, the applicable Restricted Global
Note, in the case of clause (B) above, the applicable 144A Global Note, in the case of clause (C)
above, the applicable Regulation S Global Note and, in the case of clause (G) above, the applicable
IAI Global Note.

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          (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.
A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an
Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the Holder, in the case of an exchange, or the
transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal
that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the
Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Issuer;

     (B) such transfer is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement;

     (D) the Registrar receives the following:

     (1) if the Holder of such Definitive Notes proposes to exchange such Notes for
a beneficial interest in the Unrestricted Global Note, a certificate from such
Holder substantially in the form of Exhibit C hereto, including the
certifications in item (1)(c) thereof; or

     (2) if the Holder of such Definitive Notes proposes to transfer such Notes to a
Person who shall take delivery thereof in the form of a beneficial interest in the
Unrestricted Global Note, a certificate from such Holder substantially in the form
of Exhibit B hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or
if the Applicable Procedures 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 Private
Placement Legend are no longer required in order to maintain compliance with the Securities
Act; or

     (E) such transfer is effected pursuant to an automatic exchange in accordance with
Section 2.06(j) of this Indenture.

          Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.06(d)(ii),
the Trustee shall cancel the Definitive Notes and increase or cause to be increased the aggregate
principal amount of the Unrestricted Global Note.

          (iii) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial
interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable
Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount
of one of the Unrestricted Global Notes.

          If any such exchange or transfer from a Definitive Note to a beneficial interest is effected
pursuant to subparagraph (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global Note
has not

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yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in
accordance with Section 2.02, the Trustee shall authenticate one or more Unrestricted Global Notes
in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

          (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a
Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section
2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Definitive Notes 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 2.06(e):

     (i) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

     (A) if the transfer will be made to a QIB in accordance with Rule 144A, then
the transferor must deliver a certificate substantially in the form of
Exhibit B hereto, including the certifications in item (1) thereof;

     (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (2) thereof; or

     (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications
required by item (3) thereof, if applicable.

     (ii) Restricted Definitive Notes to Unrestricted Definitive Notes. Any
Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted
Definitive Note or transferred to a Person or Persons who take delivery thereof in the form
of an Unrestricted Definitive Note if:

     (A) such exchange or transfer is effected pursuant to the Exchange Offer in
accordance with the Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating
in the distribution of the Exchange Notes or (3) a Person who is an affiliate (as
defined in Rule 144) of the Issuer;

     (B) any such transfer is effected pursuant to the Shelf Registration Statement
in accordance with the Registration Rights Agreement;

     (C) any such transfer is effected by a broker-dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement;

     (D) the Registrar receives the following:

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     (1) if the Holder of such Restricted Definitive Notes proposes to
exchange such Notes for an Unrestricted Definitive Note, a certificate from
such Holder substantially in the form of Exhibit C hereto, including
the certifications in item (1)(d) thereof; or

     (2) if the Holder of such Restricted Definitive Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form
of an Unrestricted Definitive Note, a certificate from such Holder
substantially in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests, 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 Private Placement
Legend are no longer required in order to maintain compliance with the Securities
Act; or

     (E) such transfer is effected pursuant to an automatic exchange in accordance
with Section 2.06(j) of this Indenture.

     (iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder
of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery
thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to
register such a transfer, the Registrar shall register the Unrestricted Definitive Notes
pursuant to the instructions from the Holder thereof.

          (f) Exchange Offer. Upon the occurrence of an Exchange Offer in accordance with the
Registration Rights Agreement, the Issuer shall issue and, upon receipt of an Authentication Order
in accordance with Section 2.02, the Trustee shall authenticate one or more Unrestricted Global
Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in
the Restricted Global Notes accepted for exchange in the Exchange Offer. Concurrently with the
issuance of such Notes, the Trustee shall cause the aggregate principal amount of the applicable
Restricted Global Notes to be reduced accordingly, and the Issuer shall execute and the Trustee
shall authenticate and mail to the Persons designated by the Holders of Definitive Notes so
accepted Unrestricted Definitive Notes in the applicable principal amount. Any Notes that remain
outstanding after the consummation of an Exchange Offer, and Exchange Notes issued in connection
with an Exchange Offer, shall be treated as a single class of securities under this Indenture.

          (g) Legends. The following legends shall appear on the face of all Global Notes and
Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable
provisions of this Indenture:

               (i) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive
Note (and all Notes issued in exchange therefor or substitution therefor) shall bear the
legend in substantially the following form:

     “THIS NOTE (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION
EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND THE NOTE EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR

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OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
THEREFROM. EACH PURCHASER OF THE NOTE EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER
MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE NOTE
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT:

   (A) SUCH NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY:

   (i)(a) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE THE UNITED STATES TO A
NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 UNDER THE
SECURITIES ACT, (d) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE
501(a)(1),(2),(3) OR (7) OF THE SECURITIES ACT (AN “INSTITUTIONAL ACCREDITED INVESTOR”))
THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN
REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND,
IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN
$100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER IS IN
COMPLIANCE WITH THE SECURITIES ACT, OR (e) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL
AND OTHER CERTIFICATIONS AND DOCUMENTS IF THE ISSUER SO REQUESTS),

   (ii) TO THE ISSUER, OR

   (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT

   AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE
OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND IN EACH CASE SUBJECT TO
ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF THIS NOTE BY THE HOLDER OR BY ANY
INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL; AND

   (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
PURCHASER FROM IT OF THE NOTE EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET
FORTH IN (A) ABOVE.

        (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant
to subparagraph (b)(iv), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii), (e)(iii), (f) or (j)
of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof)
shall not bear the Private Placement Legend.

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     (ii) Global Note Legend. Each Global Note shall bear a legend in substantially
the following form:

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY
BE REQUIRED PURSUANT TO SECTION 2.06(h) OF THE INDENTURE, (II) THIS GLOBAL NOTE
MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL
NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF THE ISSUER. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW
YORK) (“DTC”) TO THE ISSUER 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 MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE 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.”

     (iii) IAI Note Legend. Each Definitive Note held by an Institutional
Accredited Investor shall bear a legend in substantially the following form:

“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.”

     (iv) OID Legend. Each Note issued hereunder that has more than a de minimis
amount of original issue discount for U.S. Federal Income Tax purposes shall bear a legend
in substantially the following form:

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“THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION
1271 ET SEQ. OF THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE
PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY
FOR SUCH NOTES BY SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO THE
ISSUER AT THE FOLLOWING ADDRESS: OXFORD INDUSTRIES, INC., 222 PIEDMONT
AVENUE, N.E., ATLANTA GEORGIA 30308, ATTENTION: GENERAL COUNSEL.”

     (v) ERISA Legend. Each Note issued hereunder shall bear shall bear a
legend in substantially the following form:

“THIS NOTE MAY NOT BE ACQUIRED OR HELD WITH THE ASSETS OF (I) AN “EMPLOYEE BENEFIT
PLAN” (AS DEFINED IN THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”)) THAT IS SUBJECT TO ERISA, (II) A “PLAN” WHICH IS SUBJECT TO SECTION 4975
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (III) ANY ENTITY
DEEMED UNDER ERISA TO HOLD “PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN
EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN SUCH ENTITY, OR (IV) A GOVERNMENTAL
PLAN OR CHURCH PLAN SUBJECT TO APPLICABLE LAW THAT IS SIMILAR IN PURPOSE OR EFFECT
TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF ERISA OR
SECTION 4975 OF THE CODE (“SIMILAR LAW”), UNLESS THE ACQUISITION AND HOLDING OF THIS
NOTE BY THE PURCHASER OR TRANSFEREE, THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE,
ARE EXEMPT FROM THE PROHIBITED TRANSACTION RESTRICTIONS UNDER ERISA AND SECTION 4975
OF THE CODE OR ANY PROVISIONS OF SIMILAR LAW, AS APPLICABLE, PURSUANT TO ONE OR MORE
PROHIBITED TRANSACTION STATUTORY OR ADMINISTRATIVE EXEMPTIONS. BY ITS ACQUISITION OR
HOLDING OF THIS NOTE, EACH PURCHASER AND TRANSFEREE WILL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED THAT THE FOREGOING REQUIREMENTS HAVE BEEN SATISFIED.”

          (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global
Note 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 Note is exchanged
for or transferred to a Person who will take delivery thereof in the form of a beneficial interest
in another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by
the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction. 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 Note, such other Global Note shall
be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by
the Depositary at the direction of the Trustee to reflect such increase.

          (i) General Provisions Relating to Transfers and Exchanges.

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          (i) To permit registrations of transfers and exchanges, the Issuer shall execute and the
Trustee shall authenticate Global Notes and Definitive Notes upon receipt of an Authentication
Order in accordance with Section 2.02 or at the Registrar’s request.

          (ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or
to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuer may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.07, 2.10, 3.06, 3.09, 3.10, 4.09, 4.11 and
9.05).

          (iii) Neither the Registrar nor the Issuer shall be required to register the transfer of or
exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any
Note being redeemed in part.

          (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuer,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global
Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

          (v) The Issuer shall not be required (A) to issue, to register the transfer of or to exchange
any Notes during a period beginning at the opening of business 15 days before the day of any
selection of Notes for redemption under Section 3.02 and ending at the close of business on the day
of selection, (B) to register the transfer of or to exchange any Note so selected for redemption in
whole or in part, except the unredeemed portion of any Note being redeemed in part, or (C) to
register the transfer of or to exchange a Note between a Record Date and the next succeeding
Interest Payment Date.

          (vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the
absolute owner of such Note for the purpose of receiving payment of principal of (and premium, if
any) and interest (including Additional Interest, if any) on such Notes and for all other purposes,
and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary.

          (vii) Upon surrender for registration of transfer of any Note at the office or agency of the
Issuer designated pursuant to Section 4.02, the Issuer shall execute, and the Trustee shall
authenticate and mail, in the name of the designated transferee or transferees, one or more
replacement Notes of any authorized denomination or denominations of a like aggregate principal
amount.

          (viii) At the option of the Holder, Notes may be exchanged for other Notes of any authorized
denomination or denominations of a like aggregate principal amount upon surrender of the Notes to
be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so
surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and mail,
the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled
to in accordance with the provisions of Section 2.02.

          (ix) All certifications, certificates and Opinions of Counsel required to be submitted to the
Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be
submitted by facsimile.

          (j) Automatic Exchange from Restricted Global Note to Unrestricted Global Note. At
the option of the Issuer and upon compliance with the following procedures, beneficial interests in
a Restricted Global Note shall be exchanged for beneficial interests in an Unrestricted Global
Note. In

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order to effect such exchange, the Issuer shall provide written notice to the Trustee
instructing the Trustee to (i) direct the Depositary to transfer the specified amount of the
outstanding beneficial interests in a particular Restricted Global Note to an Unrestricted Global
Note and provide the Depositary with all such information as is necessary for the Depositary to
appropriately credit and debit the relevant Holder accounts and (ii) provide prior written notice
to all Holders of such exchange, which notice must include the date such exchange is proposed to
occur, the CUSIP number of the relevant Restricted Global Note and the CUSIP number of the
Unrestricted Global Note into which such Holders’ beneficial interests will be exchanged. As a
condition to any such exchange pursuant to this Section 2.06(j), the Trustee shall be entitled to
receive from the Issuer, and rely upon conclusively without any liability, an Officer’s Certificate
and an Opinion of Counsel, in form and in substance reasonably satisfactory to the Trustee, to the
effect that such transfer of beneficial interests to the Unrestricted Global Note shall be effected
in compliance with the Securities Act. The Issuer may request from Holders such information it
reasonably determines is required in order to be able to deliver such Officer’s Certificate and
Opinion of Counsel. Upon such exchange of beneficial interests pursuant to this Section 2.06(j),
the Registrar shall reflect on its books and records the date of such transfer and a decrease and
increase, respectively, in the principal amount of the applicable Restricted Global Note and the
Unrestricted Global Note, respectively, equal to the principal amount of beneficial interests
transferred. Following any such transfer pursuant to this Section 2.06(j) of all of the beneficial
interests in a Restricted Global Note, such Restricted Global Note shall be cancelled.

Section 2.07 Replacement Notes.

          If any mutilated Note is surrendered to the Trustee or the Issuer and the Trustee receives
evidence to its satisfaction of the ownership and destruction, loss or theft of any Note, the
Issuer shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a
replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Issuer,
an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee
and the Issuer to protect the Issuer, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer if a Note is replaced. The Issuer and/or the Trustee may charge
for their expenses in replacing a Note.

          Every replacement Note is a contractual obligation of the Issuer and shall be entitled to all
of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.

Section 2.08 Outstanding Notes.

          The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions hereof, and those described
in this Section 2.08 as not outstanding. Except as set forth in Section 2.09, a Note does not
cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note.

          If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee
receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser.

          If the principal amount of any Note is considered paid under Section 4.01, it ceases to be
outstanding and interest on it ceases to accrue.

          If the Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on

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and after that date such Notes shall be deemed to be no longer outstanding and shall cease to
accrue interest.

Section 2.09 Treasury Notes.

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

Section 2.10 Temporary Notes.

          Until certificates representing Notes are ready for delivery, the Issuer may prepare and the
Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary
Notes shall be substantially in the form of certificated Notes but may have variations that the
Issuer considers appropriate for temporary Notes and as shall be reasonably acceptable to the
Trustee. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate
definitive Notes in exchange for temporary Notes.

          Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to
all of the benefits accorded to Holders, or beneficial holders, respectively, of Notes under this
Indenture.

Section 2.11 Cancellation.

          The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or
the Paying Agent and no one else shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation and shall destroy cancelled Notes (subject to the
record retention requirement of the Exchange Act). Certification of the destruction of all
cancelled Notes shall be delivered to the Issuer. The Issuer may not issue new Notes to replace
Notes that it has paid or that have been delivered to the Trustee for cancellation.

Section 2.12 Defaulted Interest.

          If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes. The Issuer shall notify the Trustee in writing of the amount of
defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at
the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate
amount proposed to be paid in respect of such defaulted interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money
when deposited to be held in trust for the benefit of the Persons entitled to such defaulted
interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such
special record date and payment date; provided that no such special record date shall be
less

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than 10 days prior to the related payment date for such defaulted interest. The Trustee shall
promptly notify the Issuer of such special record date. At least 15 days before the special record
date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the
expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each
Holder a notice at his or her address as it appears in the Note Register that states the special
record date, the related payment date and the amount of such interest to be paid.

          Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each Note
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Note.

Section 2.13 CUSIP and ISIN Numbers

          The Issuer in issuing the Notes may use CUSIP and/or ISIN numbers (if then generally in use)
and, if so, the Trustee shall use CUSIP and/or ISIN numbers in notices of redemption as a
convenience to Holders; provided, that any such notice may state that no representation is
made as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of redemption and that reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption shall not be affected by any defect in or omission of
such numbers. The Issuer will as promptly as practicable notify the Trustee of any change in the
CUSIP or ISIN numbers.

ARTICLE 3

REDEMPTION

Section 3.01 Notices to Trustee.

          If the Issuer elects to redeem Notes pursuant to Section 3.07, it shall furnish to the
Trustee, at least 5 Business Days (or such shorter period as is agreed to by the Trustee) before
notice of redemption is required to be mailed or caused to be mailed to Holders pursuant to Section
3.03 but not more than 60 days before a Redemption Date, an Officer’s Certificate setting forth (i)
the paragraph or subparagraph of such Note and/or Section of this Indenture pursuant to which the
redemption shall occur, (ii) the redemption date, (iii) the principal amount of the Notes to be
redeemed and (iv) the redemption price.

Section 3.02 Selection of Notes to Be Redeemed or Purchased.

          If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any
time, the Registrar and Paying Agent shall select the Notes to be redeemed or purchased (a) if the
Notes are listed on any national securities exchange, in compliance with the requirements of the
principal national securities exchange on which the Notes are listed, (b) or otherwise, on a pro
rata basis, by lot or by such other method in accordance with the procedures of the Depositary. In
the event of partial redemption or purchase by lot, the particular Notes to be redeemed or
purchased shall be selected, unless otherwise provided herein, not less than 30 nor more than 60
days prior to the redemption date by the Registrar and Paying Agent from the outstanding Notes not
previously called for redemption or purchase.

          The Registrar and Paying Agent shall promptly notify the Issuer in writing of the Notes
selected for redemption or purchase and, in the case of any Note selected for partial redemption or
purchase, the principal amount thereof to be redeemed or purchased. No Notes of $2,000 or less
shall be redeemed in part, except that if all of the Notes of a Holder are to be redeemed, the
entire outstanding amount of Notes held by such Holder, even if not $2,000 or a multiple of $1,000
in excess thereof, shall

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 be redeemed. Except as provided in the preceding sentence, provisions of this Indenture that
apply to Notes called for redemption also apply to portions of Notes called for redemption.

Section 3.03 Notice of Redemption.

          Subject to Sections 3.09 and 3.10, the Issuer shall mail or cause to be mailed by first-class
mail notices of redemption at least 30 days but not more than 60 days before the Redemption Date to
each Holder of Notes to be redeemed at such Holder’s registered address or otherwise in accordance
with the procedures of DTC, except that redemption notices may be mailed more than 60 days prior to
a Redemption Date if the notice is issued in connection with Article 8 or Article 14. Notices of
redemption may not be conditional.

          The notice shall identify the Notes to be redeemed and shall state:

          (a) the Redemption Date;

          (b) the redemption price;

          (c) if any Note is to be redeemed in part only, the portion of the principal amount of
that Note that is to be redeemed and that, after the Redemption Date upon surrender of such
Note, a new Note or Notes in principal amount equal to the unredeemed portion of the
original Note representing the same indebtedness to the extent not redeemed will be issued
in the name of the Holder of the Notes upon cancellation of the original Note;

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

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

          (f) that, unless the Issuer defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the Redemption Date;

          (g) the paragraph or subparagraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; and

          (h) that no representation is made as to the correctness or accuracy of the CUSIP
and/or ISIN number, if any, listed in such notice or printed on the Notes.

          At the Issuer’s request, the Trustee shall give the notice of redemption in the Issuer’s name
and at its expense; provided that the Issuer shall have delivered to the Trustee, at least
5 Business Days before notice of redemption is required to be mailed or caused to be mailed to
Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the Trustee),
an Officer’s Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in the preceding paragraph.

Section 3.04 Effect of Notice of Redemption.

          Once notice of redemption is mailed in accordance with Section 3.03, Notes called for
redemption become irrevocably due and payable on the Redemption Date at the redemption price. The
notice, if mailed in a manner herein provided, shall be conclusively presumed to have been given,
whether or not the Holder receives such notice. In any case, failure to give such notice by mail
or any defect in

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 the notice to the Holder of any Note designated for redemption in whole or in part
shall not affect the validity of the proceedings for the redemption of any other Note. Subject to
Section 3.05, on and after the Redemption Date, interest ceases to accrue on Notes or portions
thereof called for redemption.

Section 3.05 Deposit of Redemption or Purchase Price.

          Prior to 10:00 a.m. (New York City time) on the redemption or purchase date, the Issuer shall
deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or
purchase price of and accrued and unpaid interest (including Additional Interest, if any) on all
Notes to be redeemed or purchased on that date. The Trustee or the Paying Agent shall promptly
return to the Issuer any money deposited with the Trustee or the Paying Agent by the Issuer in
excess of the amounts necessary to pay the redemption price of, and accrued and unpaid interest on,
all Notes to be redeemed or purchased.

          If the Issuer complies with the provisions of the preceding paragraph, on and after the
redemption or purchase date, interest shall cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If a Note is redeemed or purchased on or after a Record Date
but on or prior to the related Interest Payment Date, then any accrued and unpaid interest to the
redemption or purchase date shall be paid to the Person in whose name such Note was registered at
the close of business on such Record Date. If any Note called for redemption or purchase shall not
be so paid upon surrender for redemption or purchase because of the failure of the Issuer to comply
with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption
or purchase date until such principal is paid, and to the extent lawful on any interest accrued to
the redemption or purchase date not paid on such unpaid principal, in each case at the rate
provided in the Notes and in Section 4.01.

Section 3.06 Notes Redeemed or Purchased in Part.

          Upon surrender of a Note that is redeemed or purchased in part, the Issuer shall issue and the
Trustee shall authenticate for the Holder at the expense of the Issuer a new Note equal in
principal amount to the unredeemed or unpurchased portion of the Note surrendered representing the
same indebtedness to the extent not redeemed or purchased; provided that each new Note will
be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. It is
understood that, notwithstanding anything in this Indenture to the contrary, only an Authentication
Order and not an Opinion of Counsel or Officer’s Certificate is required for the Trustee to
authenticate such new Note.

Section 3.07 Optional Redemption.

          (a) At any time prior to July 15, 2012, the Issuer may redeem all or a portion of the Notes,
on not less than 30 nor more than 60 days’ prior notice, in amounts of $1,000 or an integral
multiple thereof, at a price equal to the greater of: (x) 100% of the aggregate principal amount of
the Notes to be redeemed, together with accrued and unpaid interest, if any, to the date of
redemption, and (y) as determined by an Independent Investment Banker, the sum of the present
values of 105.688% of the principal of the Notes being redeemed plus scheduled payments of interest
(not including any portion of such payments of interest accrued as of the date of redemption) from
the Redemption Date to July 15, 2012 discounted to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 50
basis points, together with accrued and unpaid interest, if any, to the Redemption Date.

          (b) On or after July 15, 2012, the Issuer may redeem all or a portion of the Notes, on not
less than 30 nor more than 60 days’ prior notice, in amounts of $1,000 or an integral multiple
thereof at the following redemption prices (expressed as percentages of the principal amount),
together with

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accrued and unpaid interest, if any, to the Redemption Date, if redeemed during the 12-month
period beginning July 15 of the years indicated below:

	 	 	 	 	 
	 	 	Redemption
	Year	 	Pice
	2012
	 	 	105.688	%
	2013
	 	 	102.844	%
	2014 and thereafter
	 	 	100.000	%

          (c) In addition, at any time prior to July 15, 2012, the Issuer, at its option, may use the
net proceeds of one or more Equity Offerings to redeem up to an aggregate of 35% of the aggregate
principal amount of Notes originally issued under this Indenture at a redemption price equal to
111.375% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest,
if any, to the redemption date; provided that at least 65% of the initial aggregate
principal amount of Notes must remain outstanding immediately after the occurrence of such
redemption and the Issuer must complete such redemption within 90 days of the closing of the Equity
Offering.

          (d) In addition to the Issuer’s rights to redeem the Notes as set forth above, the Issuer may
purchase Notes in open-market transactions, tender offers or otherwise.

Section 3.08 Mandatory Redemption.

          The Issuer will not be required to make any mandatory redemption or sinking fund payments with
respect to the Notes.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Principal, Premium and Interest.

          The Issuer shall duly and punctually pay the principal of, premium, if any, and interest on
the Notes in accordance with the terms of the Notes and this Indenture.

Section 4.02 Corporate Existence.

          Subject to Section 5.01, the Issuer shall do or cause to be done all things necessary to
preserve and keep in full force and effect the corporate existence and related rights and
franchises (charter and statutory) of the Issuer and each Restricted Subsidiary; provided,
however, that the Issuer shall not be required to preserve any such right or franchise or
the corporate existence of any such Restricted Subsidiary if the Board of Directors of the Issuer
shall determine that the preservation thereof is no longer necessary or desirable in the conduct of
the business of the Issuer and its Restricted Subsidiaries as a whole and that the loss thereof
could not reasonably be expected to have a material adverse effect on the ability of the Issuer to
perform its obligations hereunder; and provided, further, however, that the
foregoing shall not prohibit a sale, transfer or conveyance of a Restricted Subsidiary or any of
its assets in compliance with the terms of this Indenture.

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Section 4.03 Payment of Taxes and Other Claims.

          The Issuer shall pay or discharge or cause to be paid or discharged, on or before the date the
same shall become due and payable, (a) all taxes, assessments and governmental charges levied or
imposed upon the Issuer or any of its Restricted Subsidiaries shown to be due on any return of the
Issuer or any of its Restricted Subsidiaries or otherwise assessed or upon the income, profits or
property of the Issuer or any of its Restricted Subsidiaries if failure to pay or discharge the
same could reasonably be expected to have a material adverse effect on the ability of the Issuer or
any Guarantor to perform its obligations hereunder and (b) all lawful claims for labor, materials
and supplies, which, if unpaid, would by law become a Lien upon the property of the Issuer or any
of its Restricted Subsidiaries, except for any Lien permitted to be incurred under Section 4.08, if
failure to pay or discharge the same could reasonably be expected to have a material adverse effect
on the ability of the Issuer or any Guarantor to perform its obligations hereunder;
provided, however, that the Issuer shall not be required to pay or discharge or
cause to be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate proceedings properly
instituted and diligently conducted and in respect of which appropriate reserves (in the good faith
judgment of management of the Issuer) are being maintained in accordance with GAAP.

Section 4.04 Maintenance of Properties.

          The Issuer shall cause all material properties owned by the Issuer and its Restricted
Subsidiaries or used or held for use in the conduct of its business or the business of any of its
Restricted Subsidiaries to be maintained and kept in good condition, repair and working order
(ordinary wear and tear excepted) and supplied with all necessary equipment and will cause to be
made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in
the reasonable judgment of the Issuer may be necessary so that the business carried on in
connection therewith may be properly conducted at all times; provided, however,
that nothing in this Section shall prevent the Issuer from discontinuing the maintenance of any of
such properties if such discontinuance is in the ordinary course of business or, in the reasonable
judgment of the Issuer, desirable in the conduct of its business or the business of any of its
Restricted Subsidiaries and not reasonably expected to have a material adverse effect on the
ability of the Issuer to perform its obligations hereunder; and provided, further,
however, that the foregoing shall not prohibit a sale, transfer or conveyance of a
Restricted Subsidiary or any of its properties or assets in compliance with the terms of this
Indenture.

Section 4.05 Limitation on Indebtedness.

          (a) The Issuer will not, and will not cause or permit any of its Restricted Subsidiaries to,
create, issue, incur, assume, guarantee or otherwise in any manner become directly or indirectly
liable for, contingently or otherwise (collectively, “incur”), any Indebtedness (including
any Acquired Indebtedness), unless such Indebtedness is incurred by the Issuer or any Guarantor or
constitutes Acquired Indebtedness of the Issuer or a Restricted Subsidiary and, in each case, the
Issuer’s Consolidated Fixed Charge Coverage Ratio for the most recent four full fiscal quarters for
which consolidated financial statements are available immediately preceding the incurrence of such
Indebtedness taken as one period is at least equal to or greater than 2.0:1.0.

          (b) Notwithstanding Section 4.05(a), the Issuer and the Restricted Subsidiaries may incur the
following (collectively, the “Permitted Indebtedness”):

     (1) Indebtedness of the Issuer and the Guarantors under any Credit Facility in an
aggregate principal amount at any one time outstanding not to exceed the greater of:

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     (A) $275.0 million, less, without duplication, (i) any permanent repayment
thereof or permanent reduction in commitments thereunder from the proceeds of one or
more asset sales which are used to repay a Credit Facility pursuant to Section
4.09(b)(i) and (ii) the amount of Indebtedness outstanding at the date of
determination pursuant to Section 4.05(b)(9); or

     (B) (i) 85% of accounts receivable of the Issuer and its Restricted
Subsidiaries (excluding any Receivables and Related Assets sold, conveyed or
otherwise transferred to a Securitization Entity in connection with a Qualified
Securitization Transaction) as of the end of the most recently ended fiscal quarter
for which consolidated financial statements are available, plus (ii) 60% of
inventory of the Issuer and its Restricted Subsidiaries as of the end of the most
recently ended fiscal quarter for which consolidated financial statements are
available;

     (2) Indebtedness pursuant to (A) the Notes (excluding any Additional Notes) and any
Guarantee of the Notes, and (B) any Exchange Notes issued in exchange for the Notes pursuant
to the Registration Rights Agreement and any Guarantee of the Exchange Notes;

     (3) Indebtedness of the Issuer or any Restricted Subsidiary outstanding on the Issue
Date other than Indebtedness referred to in clauses (1) or (2) above or clause (11)(y) of
Section 4.05(b);

     (4) Indebtedness of the Issuer owing to a Restricted Subsidiary; provided that
any Indebtedness of the Issuer owing to a Restricted Subsidiary that is not a Guarantor
incurred after the Issue Date is unsecured and is subordinated in right of payment to the
Notes; provided, further, that any disposition or transfer of any such
Indebtedness to a Person (other than to a Restricted Subsidiary) shall be deemed to be an
incurrence of such Indebtedness by the Issuer or other obligor not permitted by this clause
(4);

     (5) Indebtedness of a Restricted Subsidiary owing to the Issuer or another Restricted
Subsidiary; provided that any disposition or transfer of any such Indebtedness to a
Person (other than a disposition or transfer to the Issuer or a Restricted Subsidiary or a
Person that becomes a Restricted Subsidiary) shall be deemed to be an incurrence of such
Indebtedness by the obligor not permitted by this clause (5);

     (6) guarantees by the Issuer or any Restricted Subsidiary of Indebtedness of the Issuer
or any of its Restricted Subsidiaries (other than guarantees by the Issuer or any Guarantor
of Acquired Indebtedness incurred in reliance on Section 4.05(a) of any Person that does not
become a Guarantor that is acquired by the Issuer or any Restricted Subsidiary other than
guarantees of such Acquired Indebtedness by any other Person so acquired in connection
therewith) which Indebtedness is permitted to be incurred under this Section 4.05;

     (7) Indebtedness of the Issuer or any Restricted Subsidiary pursuant to any:

     (A) Interest Rate Agreements,

     (B) Currency Hedging Agreements and

     (C) Commodity Price Protection Agreements;

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     (8) Indebtedness of the Issuer or any Restricted Subsidiary represented by Capital
Lease Obligations or Purchase Money Obligations or other Indebtedness in connection with the
acquisition or development of real or personal, movable or immovable, property, in each case
incurred or assumed for the purpose of financing or refinancing all or any part of the
purchase price or cost of construction or improvement of property used in the business of
the Issuer or such Restricted Subsidiary, in an aggregate principal amount not to exceed $20
million outstanding at any one time;

     (9) Indebtedness incurred by a Securitization Entity in connection with a Qualified
Securitization Transaction that is Non-recourse Indebtedness with respect to the Issuer and
its Restricted Subsidiaries; provided, however, that in the event such
Securitization Entity ceases to qualify as a Securitization Entity or such Indebtedness
ceases to constitute such Non-recourse Indebtedness, such Indebtedness will be deemed, in
each case, to be incurred at such time;

     (10) Indebtedness of the Issuer or any of its Restricted Subsidiaries in connection
with surety, performance, appeal or similar bonds, completion guarantees or similar
instruments entered into in the ordinary course of business or from letters of credit or
other obligations in respect of self-insurance and workers’ compensation obligations or
similar arrangements; provided that, in each case contemplated by this clause (10),
upon the drawing of such instrument, such obligations are reimbursed within 30 days
following such drawing;

     (11) (x) Indebtedness of Foreign Subsidiaries (including Foreign Subsidiaries formed
under the laws of the United Kingdom) in an aggregate principal amount of up to $10 million
outstanding at any one time and (y) in addition to Indebtedness permitted by the foregoing
subclause (x), Indebtedness of Foreign Subsidiaries formed under the laws of the United
Kingdom in the aggregate principal amount of up to £12 million outstanding at any one time;

     (12) Indebtedness of the Issuer or any of its Restricted Subsidiaries arising from the
honoring by a bank or other financial institution of a check, draft or similar instrument
inadvertently (except in the case of daylight overdrafts such amount need not be
inadvertent) drawn against insufficient funds in the ordinary course of business;
provided, however, that such Indebtedness is extinguished within three
business days of receipt by the Issuer or any Restricted Subsidiary of notice of such
insufficient funds;

     (13) Indebtedness of the Issuer or any Restricted Subsidiary to the extent the net
proceeds thereof are promptly deposited effect a to Legal Defeasance or Covenant Defeasance
as described in Article 8 or to satisfy and discharge this Indenture pursuant to Section
14.01;

     (14) Indebtedness of the Issuer or any Restricted Subsidiary arising from agreements
for indemnification or purchase price adjustment obligations or similar obligations, or from
guarantees or letters of credit, surety bonds or performance bonds securing any obligation
of the Issuer or a Restricted Subsidiary pursuant to such an agreement, in each case,
incurred or assumed in connection with the acquisition or disposition of any business,
assets or properties;

     (15) any renewals, extensions, substitutions, refundings, refinancing or replacements
(collectively, a “refinancing”) of any Indebtedness incurred pursuant to Section
4.05(a) and clauses (2) and (3) of Section 4.05(b), including any successive refinancing so
long as Indebtedness of the Issuer or a Guarantor may only be refinanced with Indebtedness
of the Issuer or a Guarantor and the aggregate principal amount of Indebtedness refinanced
is not increased by such refinancing except by an amount equal to the lesser of (A) the
stated amount of any premium or other payment contractually required to be paid in
connection with such a refinancing pursuant to

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the terms of the Indebtedness being refinanced or (B) the amount of premium or other
payment actually paid at such time to refinance the Indebtedness, plus, in either case, the
amount of expenses of the Issuer incurred in connection with such refinancing and (1) in the
case of any refinancing of Indebtedness that is Subordinated Indebtedness, such new
Indebtedness is made subordinated to the Notes at least to the same extent as the
Indebtedness being refinanced and (2) in the case of Pari Passu Indebtedness or Subordinated
Indebtedness, as the case may be, such refinancing does not reduce the Average Life to
Stated Maturity or the Stated Maturity of such Indebtedness;

     (16) Permitted Additional Pari Passu Obligations in an amount not to exceed $50
million; and

     (17) Indebtedness of the Issuer or any Restricted Subsidiary in addition to that
described in clauses (1) through (16) above, and any refinancing of such Indebtedness, so
long as the aggregate principal amount of all such Indebtedness shall not exceed $20 million
outstanding at any one time.

          (c) For purposes of determining compliance with this Section 4.05, in the event that an item
of Indebtedness meets the criteria of more than one of the categories of Permitted Indebtedness, or
is permitted to be incurred pursuant to Section 4.05(a), the Issuer will be permitted to classify
such item of Indebtedness on the date of its incurrence or, subject to Section 4.05(d), later
reclassify all or a portion of such item of Indebtedness, in any manner that complies with this
covenant;

          (d) Indebtedness under the Credit Agreement which is in existence or available on or prior to
the Issue Date, and any renewals, extensions, substitutions, refundings, refinancing or
replacements thereof, will be deemed to have been incurred on such date under clause (1) of the
definition of “Permitted Indebtedness”, and the Issuer will not be permitted to reclassify any
portion of such Indebtedness thereafter;

          (e) Indebtedness permitted by this covenant need not be permitted solely by reference to one
provision permitting such Indebtedness but may be permitted in part by one such provision and in
part by one or more other provisions of this Section 4.05 permitting such Indebtedness;

          (f) Accrual of interest, accretion or amortization of original issue discount and the payment
of interest on any Indebtedness in the form of additional Indebtedness with the same terms, and the
payment of dividends on any Redeemable Capital Stock or Preferred Stock in the form of additional
shares of the same class of Redeemable Capital Stock or Preferred Stock will not be deemed to be an
incurrence of Indebtedness for purposes of this Section 4.05; provided, in each such case,
that the amount thereof as accrued is included in Consolidated Fixed Charge Coverage Ratio of the
Issuer;

          (g) For purposes of determining compliance with any dollar-denominated restriction on the
incurrence of Indebtedness denominated in a foreign currency, the dollar-equivalent principal
amount of such Indebtedness incurred pursuant thereto shall be calculated based on the relevant
currency exchange rate in effect on the date that such Indebtedness was incurred;

          (h) For purposes of determining compliance with this Section 4.05 or other provisions of this
Indenture, the outstanding principal amount of any particular Indebtedness shall be counted only
once and any obligations arising under any guarantee, Lien, letter of credit or similar instrument
supporting such Indebtedness shall not be double counted; and

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          (i) The amount of Indebtedness issued at a price less than the amount of the liability thereof
shall be determined in accordance with GAAP.

Section 4.06 Limitation on Restricted Payments.

          (a) The Issuer will not, and will not cause or permit any Restricted Subsidiary to, directly
or indirectly (each a “Restricted Payment”):

     (i) declare or pay any dividend on, or make any distribution to holders of, any shares
of the Issuer’s Capital Stock (other than dividends or distributions payable solely in
shares of its Qualified Capital Stock or in options, warrants or other rights to acquire
shares of such Qualified Capital Stock);

     (ii) purchase, redeem, defease or otherwise acquire or retire for value, directly or
indirectly, shares of the Issuer’s Capital Stock or any Capital Stock of any Subsidiary of
the Issuer (other than Capital Stock of any Restricted Subsidiary of the Issuer);

     (iii) make any principal payment on, or repurchase, redeem, defease, retire or
otherwise acquire for value, prior to any scheduled principal payment, sinking fund payment
or maturity, any Subordinated Indebtedness (other than (x) Indebtedness permitted under
clause (4) or (5) of the definition of “Permitted Indebtedness” or (y) the purchase,
repurchase or other acquisition of such Subordinated Indebtedness purchased in anticipation
of satisfying a sinking fund obligation, principal installment or final maturity, in each
case due within one year of the date of purchase, repurchase or acquisition);

     (iv) declare or pay any dividend or distribution on any Capital Stock of any Restricted
Subsidiary to any Person (other than (a) dividends or distributions payable solely in shares
of Capital Stock of such Restricted Subsidiary or in options, warrants or other rights to
acquire shares of such Capital Stock, (b) to the Issuer or any of its Restricted
Subsidiaries or (c) dividends or distributions made by a Restricted Subsidiary on a pro rata
basis to all stockholders of such Restricted Subsidiary); or

     (v) make any Investment (other than any Permitted Investments)

(the amount of any such Restricted Payment, if other than cash, shall be the Fair Market Value of
the assets proposed to be transferred), unless

     (1) at the time of and after giving effect to such proposed Restricted Payment, no
Default or Event of Default shall have occurred and be continuing;

     (2) at the time of and after giving effect to such Restricted Payment, the Issuer could
incur $1.00 of additional Indebtedness under Section 4.05(a); and

     (3) after giving effect to the proposed Restricted Payment, the aggregate amount of all
such Restricted Payments (other than Permitted Payments described in clauses (2) through (9)
of clause (b) below) declared (with respect to dividends) or made after March 1, 2003 and
all Designation Amounts does not exceed the sum of:

     (A) 50% of the aggregate Consolidated Net Income (Loss) of the Issuer accrued
on a cumulative basis during the period beginning on March 1, 2003 and ending on the
last day of the Issuer’s last fiscal quarter ending prior to the date of the
Restricted

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Payment (or, if such aggregate cumulative Consolidated Net Income (Loss) shall
be a loss, minus 100% of such loss);

     (B) 100% of the aggregate Net Cash Proceeds received after March 1, 2003 by the
Issuer either (1) as capital contributions in the form of nonredeemable equity to
the Issuer or (2) from the issuance or sale (other than to any of its Subsidiaries)
of Qualified Capital Stock of the Issuer or any options, warrants or rights to
purchase such Qualified Capital Stock of the Issuer, plus 100% of the Fair Market
Value as of the date of issuance of any Qualified Capital Stock issued by the Issuer
since March 1, 2003 as consideration for the purchase by the Issuer or any of its
Restricted Subsidiaries (including by means of a merger, consolidation or other
business combination permitted under this Indenture) of any assets or properties of,
or a majority of the Voting Stock of, any Person whose primary business is, a
Permitted Business (except, in each case, to the extent such proceeds are used to
purchase, redeem or otherwise retire Capital Stock or Subordinated Indebtedness as
set forth in Section 4.06(b)(2) or (3)) (excluding the Net Cash Proceeds from the
issuance of Qualified Capital Stock financed, directly or indirectly, using funds
borrowed from the Issuer or any Subsidiary until and to the extent such borrowing is
repaid);

     (C) 100% of the aggregate Net Cash Proceeds received after March 1, 2003 by the
Issuer (other than from any of its Subsidiaries) upon the exercise of any options,
warrants or rights to purchase Qualified Capital Stock of the Issuer (excluding the
Net Cash Proceeds from the exercise of any options, warrants or rights to purchase
Qualified Capital Stock financed, directly or indirectly, using funds borrowed from
the Issuer or any Subsidiary until and to the extent such borrowing is repaid);

     (D) 100% of the aggregate Net Cash Proceeds received after March 1, 2003 by the
Issuer from the conversion or exchange, if any, of debt securities or Redeemable
Capital Stock of the Issuer or its Restricted Subsidiaries into or for Qualified
Capital Stock of the Issuer plus, to the extent such debt securities or Redeemable
Capital Stock so converted or exchanged were issued after March 1, 2003, the
aggregate of Net Cash Proceeds from their original issuance (excluding the Net Cash
Proceeds from the conversion or exchange of debt securities or Redeemable Capital
Stock financed, directly or indirectly, using funds borrowed from the Issuer or any
Subsidiary until and to the extent such borrowing is repaid);

     (E) (a) in the case of the disposition or repayment of any Investment
constituting a Restricted Payment made after the Issue Date, an amount (to the
extent not included in Consolidated Net Income) equal to the lesser of the return of
capital with respect to such Investment and the initial amount of such Investment,
in either case, less the cost of the disposition of such Investment and net of
taxes, and (b) in the case of the designation of an Unrestricted Subsidiary as a
Restricted Subsidiary (as long as the designation of such Subsidiary as an
Unrestricted Subsidiary was deemed a Restricted Payment), the Fair Market Value of
the Issuer’s interest in such Subsidiary as of the date of such designation,
provided that such amount shall not in any case exceed the amount of the
Restricted Payment deemed made at the time the Subsidiary was designated as an
Unrestricted Subsidiary;

     (F) any amount which previously qualified as a Restricted Payment on account of
any guarantee entered into by the Issuer or any Restricted Subsidiary;
provided

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that such guarantee has not been called upon and the obligation arising under
such guarantee no longer exists; and

     (G) $5 million.

          (b) The provisions of Section 4.06(a) shall not prohibit the following Restricted Payments
(each, a “Permitted Payment”):

     (1) (x) the payment of any dividend or redemption of any Capital Stock within 60 days
after the date of declaration thereof or call for redemption, if at such date of declaration
or call for redemption such payment or redemption was permitted by the provisions of Section
4.06(a) (the declaration of such payment will be deemed a Restricted Payment under Section
4.06(a) as of the date of declaration, and the payment itself will be deemed to have been
paid on such date of declaration and will not also be deemed a Restricted Payment under
Section 4.06(a)) (it being understood that any Restricted Payment made in reliance on this
clause (x) shall reduce the amount available for Restricted Payments pursuant to Section
4.06(a)(3) above only once) and (y) declaration and the payment of dividends on the Issuer’s
common stock in an amount not to exceed $6.5 million during any twelve month period;

     (2) the repurchase, redemption, or other acquisition or retirement for value of any
shares of any class of Capital Stock of the Issuer in exchange for (including any such
exchange pursuant to the exercise of a conversion right or privilege in connection with
which cash is paid in lieu of the issuance of fractional shares or scrip), or out of the Net
Cash Proceeds of a substantially concurrent issuance and sale for cash (other than to a
Subsidiary) of, Qualified Capital Stock of the Issuer; provided that the Net Cash
Proceeds from the issuance of such shares of Qualified Capital Stock are excluded from
Section 4.06(a)(3)(B);

     (3) the repurchase, redemption, defeasance, retirement or acquisition for value or
payment of principal of any Subordinated Indebtedness in exchange for, or out of the Net
Cash Proceeds of, a substantially concurrent issuance and sale for cash (other than to any
Subsidiary) of any Qualified Capital Stock of the Issuer, provided that the Net Cash
Proceeds from the issuance of such shares of Qualified Capital Stock are excluded from
Section 4.06(a)(3)(B);

     (4) the repurchase, redemption, defeasance, retirement or acquisition for value or
payment of principal of any Subordinated Indebtedness (other than Redeemable Capital Stock)
in exchange for, or out of the Net Cash Proceeds of, the substantially concurrent issuance
of new Subordinated Indebtedness of the Issuer, provided that any such new
Subordinated Indebtedness

     (a) shall be in a principal amount that does not exceed the principal amount so
refinanced, plus the amount of premium or other payment reasonably determined as
necessary to refinance the Indebtedness, plus the amount of expenses of the Issuer
incurred in connection with such refinancing;

     (b) has an Average Life to Stated Maturity equal to or greater than the
remaining Average Life to Stated Maturity of the Subordinated Indebtedness being
refinanced;

     (c) has a Stated Maturity for its final scheduled principal payment later than
the Stated Maturity for the final scheduled principal payment of the Subordinated
Indebtedness being refinanced; and

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     (d) is expressly subordinated in right of payment to the Notes at least to the
same extent as the Subordinated Indebtedness to be refinanced;

     (5) the repurchase of Capital Stock deemed to occur upon (a) exercise of stock options
to the extent that shares of such Capital Stock represent a portion of the exercise price of
such options and (b) the withholding of a portion of the Capital Stock granted or awarded to
an employee to pay taxes associated therewith;

     (6) the payment of cash in lieu of the issuance of fractional shares in connection with
the exercise of warrants, options or other securities convertible into or exercisable for
Capital Stock of the Issuer;

     (7) the repurchase, redemption, or other acquisition or retirement for value of
Redeemable Capital Stock of the Issuer made by exchange for, or out of the proceeds of the
sale of, Redeemable Capital Stock;

     (8) so long as no default or event of default exists or would occur, the repurchase,
redemption, or other acquisition or retirement for value of any shares of Capital Stock of
the Issuer from employees, former employees, directors or former directors of the Issuer or
any Restricted Subsidiary or their authorized representatives upon the death, disability or
termination of employment of such employees, former employees, directors or former
directors, in an amount of up to $3 million in the aggregate during any fiscal year of the
Issuer (with unused amounts from any fiscal year available in any of the next two succeeding
years); and

     (9) so long as no default or event of default exists or would occur, payments or
distributions to stockholders pursuant to appraisal rights required under applicable law in
connection with any consolidation, merger or transfer of assets, that complies with Section
5.01.

          For clarity purposes, all payments made pursuant to Sections 4.06(b)(2) through (9) shall not
reduce the amount that would otherwise be available for Restricted Payments under Section 4.06(a).

Section 4.07 Limitation on Transactions with Affiliates.

          The Issuer will not, and will not cause or permit any of its Restricted Subsidiaries to,
directly or indirectly, enter into any transaction or series of related transactions (including,
without limitation, the sale, purchase, exchange or lease of assets, property or services) with or
for the benefit of any Affiliate of the Issuer (other than the Issuer or a Restricted Subsidiary,
including any Person that becomes a Restricted Subsidiary as a result of such transaction) unless:

     (1) such transaction or series of related transactions is on terms that are no less
favorable to the Issuer or such Restricted Subsidiary, as the case may be, than those that
would be available in a comparable transaction in arm’s-length dealings with an unrelated
third party,

     (2) with respect to any transaction or series of related transactions involving
aggregate value in excess of $2.5 million, the Issuer delivers an Officer’s Certificate to
the Trustee certifying that such transaction or series of related transactions complies with
clause (1) above, and

     (3) with respect to any transaction or series of related transactions involving
aggregate value in excess of $10 million, either

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     (A) such transaction or series of related transactions has been approved by a
majority of the Disinterested Directors of the Board of Directors of the Issuer, or
in the event there is only one Disinterested Director, by such Disinterested
Director, or

     (B) the Issuer delivers to the Trustee a written opinion of an investment
banking firm of national standing or other recognized independent expert stating
that the transaction or series of related transactions is fair to the Issuer or such
Restricted Subsidiary from a financial point of view; provided,
however, that this provision shall not apply to:

     (i) directors’ fees, consulting fees, employee salaries, bonuses or
employment agreements, incentive arrangements, compensation or employee
benefit arrangements with any officer, director or employee of the Issuer or
a Subsidiary of the Issuer, including under any stock option or stock
incentive plans, customary indemnification arrangements with officers,
directors or employees of the Issuer or a Subsidiary of the Issuer, in each
case entered into in the ordinary course of business;

     (ii) any Restricted Payments or Permitted Payments made in compliance
with Section 4.06;

     (iii) any Qualified Securitization Transaction;

     (iv) any issuance or sale of Qualified Capital Stock of the Issuer to
Affiliates;

     (v) transactions among the Issuer and/or any Restricted Subsidiary
and/or any Related Business Entity;

     (vi) loans or advances to employees or consultants of the Issuer in the
ordinary course of business for bona fide business purposes of the Issuer
and its Restricted Subsidiaries (including travel, entertainment and moving
expenses) made in compliance with applicable law; and

     (vii) any transactions undertaken pursuant to any agreements in
existence on the Issue Date (as in effect on the Issue Date) and any
renewals, replacements or modifications of such contracts (pursuant to new
transactions or otherwise) on terms no less favorable in any material
respect to the Holders of the Notes than those in effect on the Issue Date.

Section 4.08 Limitation on Liens.

          The Issuer will not, and will not permit any of its Restricted Subsidiaries, directly or
indirectly, to enter into, create, incur, assume or suffer to exist any Liens of any kind, on or
with respect to any of its properties to secure Indebtedness of the Issuer or any of its Restricted
Subsidiaries other than Permitted Liens. Additionally, the Issuer will not, and will not permit
any Guarantor, to grant or suffer to exist any Lien (other than pursuant to clause (a), (d), (j) or
(p) of the definition of “Permitted Liens”) on any real property of the Issuer or any Guarantor
owned in fee simple on the Issue Date for purposes of securing any Indebtedness for money borrowed
unless the Issuer shall have granted a first-priority Lien on such fee owned real property to the
Collateral Agent for the benefit of the Holders of Notes and the holders of Permitted Additional
Pari Passu Obligations.

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Section 4.09 Limitation on Sale of Assets.

          (a) The Issuer will not, and will not cause or permit any of its Restricted Subsidiaries to,
directly or indirectly, consummate an Asset Sale unless (1) at least 75% of the consideration from
such Asset Sale is received in cash, Cash Equivalents or Replacement Assets, (2) the Issuer or such
Restricted Subsidiary receives consideration at the time of such Asset Sale at least equal to the
Fair Market Value of the shares or assets subject to such Asset Sale, (3) if such Asset Sale
involves the disposition of Collateral, the Issuer or such Restricted Subsidiary has complied with
the provisions of this Indenture and the Security Documents, and (4) if such Asset Sale involves
the disposition of Note Priority Collateral or, after the Discharge of ABL Obligations, the
disposition of ABL Priority Collateral, the Net Cash Proceeds thereof shall be paid directly by the
purchaser of the Collateral to the Collateral Agent for deposit into the Collateral Account pending
application in accordance with the provisions described below, and, if any property other than cash
or Cash Equivalents is included in such Net Cash Proceeds, such property shall be made subject to
the Note Liens.

          For purposes of Section 4.09(a)(1) above, the following will be deemed to be cash:

     (A) the amount of any liabilities (other than Subordinated Indebtedness) of the Issuer
or any Restricted Subsidiary that is actually assumed by the transferee in such Asset Sale
and from which the Issuer and the Restricted Subsidiaries are fully and unconditionally
released (excluding any liabilities that are incurred in connection with or in anticipation
of such Asset Sale and contingent liabilities);

     (B) the amount of any notes, securities or other similar obligations received by the
Issuer or any Restricted Subsidiary from such transferee that is converted, sold or
exchanged within 90 days of the related Asset Sale by the Issuer or the Restricted
Subsidiaries into cash in an amount equal to the net cash proceeds realized upon such
conversion, sale or exchange; and

     (C) the amount of any Designated Non-cash Consideration received by the Issuer or any
of its Restricted Subsidiaries in the Asset Sale; provided that the aggregate of
such Designated Non-cash Consideration received in connection with Asset Sales (and still
held) shall not exceed $5 million at any one time (with the Fair Market Value in each case
being measured at the time received and without giving effect to subsequent changes in
value).

          (b) All or a portion of the Net Cash Proceeds of any Asset Sale may be applied by the Issuer
or a Restricted Subsidiary, to the extent the Issuer or such Restricted Subsidiary elects (or is
required by the terms of any Indebtedness under the Credit Agreement or any Credit Facility):

     (i) to the extent such Net Cash Proceeds constitute proceeds from the sale of
Collateral (other than Tommy Bahama Collateral) or assets that are not Collateral, to repay
permanently any Indebtedness under the Credit Agreement or any other Credit Facility or
Indebtedness of any non-Guarantor with respect to the proceeds from the sale of assets of
any non-Guarantor then outstanding as required by the terms thereof (and in the case of any
such Indebtedness under the Credit Agreement or any other Credit Facility, effect a
permanent reduction in the availability under the Credit Agreement or any other Credit
Facility);

     (ii) to acquire all or substantially all of the assets of, or a majority of the Voting
Stock of, a Permitted Business (or in the case of an Asset Sale of ABL Priority Collateral
or Note Priority Collateral other than Tommy Bahama Collateral, to acquire additional
Collateral); provided that to the extent such Net Cash Proceeds are received in
respect of Tommy Bahama Collateral, such Net Cash Proceeds are applied to acquire assets that constitute Note
Priority Collateral;

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     (iii) to make a capital expenditure; provided that to the extent such Net Cash
Proceeds are received in respect of Note Priority Collateral, such expenditures shall relate
to Collateral (and to the extent such Net Cash Proceeds are received in respect of Tommy
Bahama Collateral, such expenditures shall relate to Note Priority Collateral); or

     (iv) to invest the Net Cash Proceeds (or enter into a legally binding agreement to
invest) in Replacement Assets; provided that to the extent such Net Cash Proceeds
are received in respect of Note Priority Collateral, such Replacement Assets constitute
Collateral (and to the extent such Net Cash Proceeds are received in respect of Tommy Bahama
Collateral, such Collateral shall be Note Priority Collateral).

          Pending the final application of any such Net Cash Proceeds (other than Trust Monies), the
Issuer may temporarily reduce Indebtedness or otherwise invest such Net Cash Proceeds in any manner
that is not prohibited by this Indenture. If any such legally binding agreement to invest such Net
Cash Proceeds is terminated, the Issuer shall, within 90 days of such termination or within 365
days of such Asset Sale, whichever is later, invest such Net Cash Proceeds as provided in Section
4.09(b)(i) through (iv) (without regard to the first parenthetical contained in Section
4.09(b)(iv)). The amount of such Net Cash Proceeds not used or invested in accordance with the
preceding Section 4.09(b)(i) through (iv) within 365 days of the Asset Sale constitutes “Excess
Proceeds.”

          (c) When the aggregate amount of Excess Proceeds exceeds $15.0 million, within 30 days
thereof, the Issuer will make an offer (an “Offer”) to all Holders of Notes and (x) in the
case of Net Cash Proceeds from an Asset Sale of Note Priority Collateral, to the holders of any
other Permitted Additional Pari Passu Obligations containing provisions similar to those set forth
in this Indenture with respect to asset sales or (y) in the case of any other Net Cash Proceeds, to
all holders of other Pari Passu Indebtedness containing provisions similar to those set forth in
this Section 4.09 with respect to asset sales, in each case, equal to the Excess Proceeds. The
offer price in any Offer to Purchase will be equal to 100% of the principal amount of the Notes
(and 100% of the principal amount or, if different, the accreted value of any Permitted Additional
Pari Passu Obligations or Pari Passu Indebtedness) plus accrued and unpaid interest to the date of
purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an
Offer, the Issuer may use those Excess Proceeds for any purpose not otherwise prohibited by this
Indenture and such remaining amount shall not be added to any subsequent Excess Proceeds for any
purpose under this Indenture. If the aggregate principal of the Notes and principal amount or, if
different, accreted value of other Permitted Additional Pari Passu Obligations (in the case of Net
Cash Proceeds from Note Priority Collateral) or Notes and other Pari Passu Indebtedness (in the
case of any other Net Cash Proceeds) tendered into such Offer to Purchase exceeds the amount of
Excess Proceeds, the Trustee will select the Notes and other Permitted Additional Pari Passu
Obligations or other Pari Passu Indebtedness, as the case may be, to be purchased on a pro rata
basis. Upon completion of each Offer, the amount of Excess Proceeds will be reset at zero.

          (d) The Issuer will comply with the applicable tender offer rules, including Rule 14e-1 under
the Exchange Act, and any other applicable securities laws or regulations in connection with an
Offer and shall not be deemed to have violated the provisions of this Section 4.09 as a result of
such compliance.

Section 4.10 Additional Guarantees.

          The Issuer will cause any Restricted Subsidiary formed or acquired after the Issue Date (other
than a Foreign Subsidiary, a Securitization Entity or an Excluded Subsidiary) to execute and
deliver a supplemental indenture to this Indenture in the form of Exhibit D hereto
providing for a Guarantee of the Notes and supplements to the applicable Security Documents in
order to grant a Lien in the Collateral

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owned by such Restricted Subsidiary. Guarantees shall be
released and discharged in accordance with Section 13.06.

Section 4.11 Purchase of Notes upon a Change of Control.

          (a) If a Change of Control occurs, each Holder of Notes will have the right to require that
the Issuer purchase all or any part (in integral multiples of $1,000 except that no Note will be
purchased in part if the remaining amount of such Note would be less than $2,000) of such Holder’s
Notes pursuant to a “Change of Control Offer.” In the Change of Control Offer, the Issuer
will offer to purchase all of the Notes, at a purchase price (the “Change of Control Purchase
Price”) in cash in an amount equal to 101% of the principal amount of such Notes, plus accrued
and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase
Date”) (subject to the rights of Holders of record on relevant Record Dates to receive interest
due on an Interest Payment Date).

          (b) Within 30 days of any Change of Control or, at the Issuer’s option, prior to such Change
of Control but after it is publicly announced, the Issuer must notify the Trustee and give written
notice (a “Change of Control Purchase Notice”) of the Change of Control to each Holder of
Securities, by first-class mail, postage prepaid, at its address appearing in the Note Register.
The notice must state:

     (i) that a Change of Control has occurred or will occur, the date of such event, and
that such Holder has the right to require the Issuer to repurchase such Holder’s Notes at
the Change of Control Purchase Price;

     (ii) that the Change of Control Offer is being made pursuant to this Section 4.11 and
that all Notes properly tendered pursuant to the Change of Control Offer will be accepted
for payment at the Change of Control Purchase Price;

     (iii) the Change of Control Purchase Date, which shall be fixed by the Issuer on a
Business Day no earlier than 30 days nor later than 60 days from the date such notice is
mailed, or such later date as is necessary to comply with requirements under the Exchange
Act; provided that the Change of Control Purchase Date may not occur prior to the
Change of Control;

     (iv) the Change of Control Purchase Price;

     (v) the names and addresses of the Paying Agent and the offices or agencies referred to
in Section 2.03;

     (vi) that Notes must be surrendered on or prior to the Change of Control Purchase Date
to the Paying Agent at the office of the Paying Agent or to an office or agency referred to
in Section 2.03 to collect payment;

     (vii) that the Change of Control Purchase Price for any Notes which has been properly
tendered and not withdrawn will be paid promptly following the Change of Control Purchase
Date;

     (viii) that Holders electing to have any Notes purchased pursuant to a Change of
Control Offer will be required to surrender such Notes, with the form entitled “Option of
Holder to Elect Purchase” on the reverse of such Notes completed, to the Paying Agent
specified in the notice at the address specified in the notice prior to the close of
business on the third Business Day preceding the Change of Control Purchase Date;

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     (ix) that Holders shall be entitled to withdraw their tendered Notes and their election
to require the Issuer to purchase such Notes, provided that the Paying Agent
receives, not later than the close of business on the 30th day following the date of the
Change of Control Purchase Notice, a facsimile transmission or letter setting forth the name
of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a
statement that such Holder is withdrawing its tendered Notes and its election to have such
Notes purchased;

     (x) that any Note not tendered will continue to accrue interest; and

     (xi) that, unless the Issuer defaults in the payment of the Change of Control Purchase
Price, any Notes accepted for payment pursuant to the Change of Control Offer shall cease to
accrue interest after the Change of Control Purchase Date.

          (c) On the Change of Control Purchase Date, the Issuer shall, to the extent permitted by law,

     (i) accept for payment all Notes issued by it or portions thereof properly tendered
pursuant to the Change of Control Offer;

     (ii) deposit with the Paying Agent an amount equal to the aggregate Change of Control
Purchase Price in respect of all Notes or portions thereof so tendered; and

     (iii) deliver, or cause to be delivered, to the Trustee for cancellation the Notes so
accepted together with an Officer’s Certificate to the Trustee stating that such Notes or
portions thereof have been tendered to and purchased by the Issuer.

          (d) Subject to applicable escheat laws, the Trustee and the Paying Agent shall return to the
Issuer any cash that remains unclaimed, together with interest or dividends, if any, thereon, held
by them for the payment of the Change of Control Purchase Price; provided, however,
that, (x) to the extent that the aggregate amount of cash deposited by the Issuer pursuant to
clause (ii) of clause (c) above exceeds the aggregate Change of Control Purchase Price of the Notes
or portions thereof to be purchased, then the Trustee shall hold such excess for the Issuer and (y)
unless otherwise directed by the Issuer in writing, promptly after the Business Day following the
Change of Control Purchase Date the Trustee shall return any such excess to the Issuer together
with interest, if any, thereon.

          (e) The Issuer shall comply, to the extent applicable, with the applicable tender offer rules,
including Rule 14e-1 under the Exchange Act, and any other applicable securities laws or
regulations in connection with a Change of Control Offer.

          (f) Notwithstanding the foregoing, the Issuer will 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 this Section 4.11
applicable to a Change of Control Offer made by the Issuer and purchases all the Notes validly
tendered and not withdrawn under such Change of Control Offer.

Section 4.12 Limitation on Subsidiary Preferred Stock.

          (a) The Issuer will not permit any Restricted Subsidiary of the Issuer to issue, sell or
transfer any Preferred Stock of such Restricted Subsidiary, except for (1) Preferred Stock issued
or sold to, held by or transferred to the Issuer or a Restricted Subsidiary, and (2) Preferred
Stock issued by a Person prior to the time (A) such Person becomes a Restricted Subsidiary, (B)
such Person consolidates or

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merges with or into the Issuer or a Restricted Subsidiary or (C) a
Restricted Subsidiary consolidates or merges with or into such Person; provided that such
Preferred Stock was not issued or incurred by such Person in anticipation of the type of
transaction contemplated by Section 4.12(a)(2)(A), (B) or (C). This Section 4.12(a) shall not
apply upon the acquisition by a third party of all the outstanding Capital Stock of such Restricted
Subsidiary in accordance with the terms of this Indenture.

          (b) The Issuer will not permit any Person (other than the Issuer or a Restricted Subsidiary)
to acquire Preferred Stock of any Restricted Subsidiary from the Issuer or any Restricted
Subsidiary, except upon the acquisition of all the outstanding Capital Stock of such Restricted
Subsidiary in accordance with the terms of this Indenture.

Section 4.13 Limitation on Dividend and Other Payment Restrictions Affecting Subsidiaries.

          (a) The Issuer will not, and will not cause or permit any of its Restricted Subsidiaries to,
directly or indirectly, create or otherwise cause to exist or become effective any consensual
encumbrance or restriction on the ability of any Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock,

     (2) pay any Indebtedness owed to the Issuer or any other Restricted Subsidiary,

     (3) make any Investment in the Issuer or any other Restricted Subsidiary or

     (4) transfer any of its properties or assets to the Issuer or any other Restricted
Subsidiary.

          (b) However, Section 4.13(a) will not prohibit any:

     (1) encumbrance or restriction pursuant to an agreement or instrument (including the
Credit Agreement, the Notes, this Indenture, the Guarantees and the Security Documents) in
effect on the Issue Date (or in respect of the Credit Agreement on the date of the Credit
Agreement);

     (2) encumbrance or restriction with respect to a Restricted Subsidiary that is not a
Restricted Subsidiary of the Issuer on the Issue Date, in existence at the time such Person
becomes a Restricted Subsidiary of the Issuer and not incurred in connection with, or in
contemplation of, such Person becoming a Restricted Subsidiary, provided that such
encumbrances and restrictions are not applicable to the Issuer or any Restricted Subsidiary
or the properties or assets of the Issuer or any Restricted Subsidiary other than such
Subsidiary which is becoming a Restricted Subsidiary;

     (3) encumbrance or restriction pursuant to any agreement governing any Indebtedness
represented by Capital Lease Obligations or Purchase Money Obligations permitted to be
incurred under Section 4.05;

     (4) encumbrance or restriction contained in any Acquired Indebtedness or other
agreement of any Person or related to assets acquired (whether by merger, consolidation or
otherwise) by the Issuer or any Restricted Subsidiaries, so long as such encumbrance or
restriction (A) was not entered into in contemplation of the acquisition, merger or
consolidation transaction, and (B) is not applicable to any Person, or the properties or
assets of any Person, other than the

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Person, or the property or assets of the Person, so
acquired, so long as the agreement containing such restriction does not violate any other
provision of this Indenture;

     (5) encumbrance or restriction existing under applicable law or any requirement of any
regulatory body;

     (6) in the case of Section 4.13(a)(4), Liens securing Indebtedness otherwise permitted
to be incurred under Section 4.08 that limit the right of the debtor to dispose of the
assets subject to such Liens;

     (7) customary non-assignment provisions in leases, licenses or contracts;

     (8) customary restrictions contained in (A) asset sale agreements permitted to be
incurred under Section 4.09 that limit the transfer of such assets pending the closing of
such sale and (B) any other agreement for the sale or other disposition of a Restricted
Subsidiary that restricts distributions by that Restricted Subsidiary pending its sale or
other disposition;

     (9) customary restrictions imposed by the terms of shareholders’, partnership or joint
venture agreements entered into in the ordinary course of business in connection with a
joint venture arrangement which is permitted pursuant to clause (7) of the definition of
“Permitted Investment”; provided, however, that such restrictions do not
apply to any Restricted Subsidiaries other than the applicable company, partnership or joint
venture;

     (10) restrictions contained in Indebtedness of Foreign Subsidiaries permitted to be
incurred under clause (11) of the definition of “Permitted Indebtedness,” so long as such
restrictions or encumbrances are customary for Indebtedness of the type incurred;

     (11) encumbrance or restriction with respect to a Securitization Entity in connection
with a Qualified Securitization Transaction; provided, however, that such
encumbrances and restrictions are customarily required by the institutional sponsor or
arranger of such Qualified Securitization Transaction in similar types of documents relating
to the purchase of similar receivables in connection with the financing thereof;

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

     (13) encumbrance or restriction under any agreement that amends, extends, renews,
refinances or replaces the agreements containing the encumbrances or restrictions in the
foregoing clauses (1) through (12) or in this clause (13), provided that the terms
and conditions of any such encumbrances or restrictions are no more restrictive in any
material respect than those under or pursuant to the agreement evidencing the Indebtedness
so extended, renewed, refinanced or replaced.

Section 4.14 Limitation on Unrestricted Subsidiaries.

          The Issuer may designate after the Issue Date any Subsidiary as an “Unrestricted Subsidiary”
under this Indenture only if:

     (a) no Default shall have occurred and be continuing at the time of or after giving
effect to such designation;

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     (b) the Issuer would be permitted to make an Investment (other than a Permitted
Investment) at the time of designation (assuming the effectiveness of such designation)
pursuant to Section 4.06(a) in an amount (the “Designation Amount”) equal to the
Fair Market Value of the Issuer’s and its Restricted Subsidiaries’ Investments in such
Subsidiary (including any guarantee of the obligations of such Unrestricted Subsidiary but
excluding any amounts attributable to Investments made prior to the Issue Date);

     (c) such Unrestricted Subsidiary does not own any Capital Stock in any Restricted
Subsidiary of the Issuer which is not simultaneously being designated an Unrestricted
Subsidiary;

     (d) such Unrestricted Subsidiary is not liable, directly or indirectly, with respect to
any Indebtedness other than Non-Recourse Indebtedness, provided that an Unrestricted
Subsidiary may provide a Guarantee for the Notes; and

     (e) such Unrestricted Subsidiary is not a party to any agreement, contract, arrangement
or understanding at such time with the Issuer or any Restricted Subsidiary unless the terms
of any such agreement, contract, arrangement or understanding are no less favorable to the
Issuer or such Restricted Subsidiary than those that might be obtained at the time from
persons who are not Affiliates of the Issuer or, in the event such condition is not
satisfied, the value of such agreement, contract, arrangement or understanding to such
Unrestricted Subsidiary from and after the date of designation shall be deemed a Restricted
Payment.

          In the event of any such designation, the Issuer shall be deemed to have made an Investment
constituting a Restricted Payment pursuant to Section 4.06 for all purposes of this Indenture in
the Designation Amount.

          For purposes of the foregoing, the designation of a Subsidiary of the Issuer as an
Unrestricted Subsidiary shall be deemed to be the designation of all of the Subsidiaries of such
Subsidiary as Unrestricted Subsidiaries. Unless so designated as an Unrestricted Subsidiary, any
person that becomes a Subsidiary of the Issuer will be classified as a Restricted Subsidiary.

          The Issuer may revoke any designation of a Subsidiary as an Unrestricted Subsidiary if:

     (a) no Default shall have occurred and be continuing at the time of and after giving
effect to such revocation;

     (b) all Liens and Indebtedness of such Unrestricted Subsidiary outstanding immediately
following such revocation would, if incurred at such time, have been permitted to be
incurred for all purposes of this Indenture; and

     (c) unless such redesignated Subsidiary shall not have any Indebtedness outstanding
(other than Indebtedness that would be Permitted Indebtedness), (x) if prior to such
revocation the Issuer could incur $1.00 of additional Indebtedness (other than Permitted
Indebtedness) pursuant
to Section 4.05(a) immediately after giving effect to such proposed revocation, and
after giving pro forma effect to the incurrence of any such Indebtedness of such
redesignated Subsidiary as if such Indebtedness was incurred on the date of the revocation,
the Issuer could incur $1.00 of additional Indebtedness (other than Permitted Indebtedness)
pursuant to Section 4.05 or (y) if prior to such revocation the Issuer could not incur $1.00
of additional Indebtedness (other than Permitted Indebtedness) pursuant to Section 4.05(a),
the Issuer’s Consolidated Fixed Charge Coverage Ratio does not decline as a result of such
revocation.

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          All designations and revocations must be evidenced by a resolution of the Board of Directors
of the Issuer delivered to the Trustee certifying compliance with the foregoing provisions

Section 4.15 Provision of Financial Information.

          Whether or not the Issuer is subject to Section 13(a) or 15(d) of the Exchange Act, the Issuer
will, to the extent permitted under the Exchange Act, file with the SEC the annual reports,
quarterly reports and other documents which the Issuer would have been required to file with the
SEC pursuant to Section 13(a) or 15(d) if the Issuer were so subject, such documents to be filed
with the SEC on or prior to the date (the “Required Filing Date”) by which the Issuer would
have been required so to file such documents if the Issuer were so subject.

          The Issuer will also in any event within 15 days of each Required Filing Date (a) file with
the Trustee copies of the annual reports, quarterly reports and other documents which the Issuer
filed with the SEC or would have been required to file with the SEC pursuant to Section 13(a) or
15(d) of the Exchange Act if the Issuer were subject to either of such Sections and (b) if filing
such reports and documents by the Issuer with the SEC is not accepted by the SEC or is not
permitted under the Exchange Act, transmit by mail to all Holders of the Notes, as their names and
addresses appear in the Note Register, without cost to such Holders, copies of such reports and
documents.

          In addition, so long as any of the Notes remain outstanding, the Issuer will make available to
any prospective purchaser of Notes or beneficial owner of Notes in connection with any sale thereof
the information required by Rule 144A(d)(4) under the Securities Act, until such time as the Issuer
has either exchanged the Notes for securities identical in all material respects which have been
registered under the Securities Act or until such time as the Holders thereof have disposed of such
Notes pursuant to an effective registration statement under the Securities Act.

Section 4.16 Statement by Officers as to Default.

          (a) The Issuer will deliver to the Trustee, on or before a date not more than 120 days after
the end of each fiscal year of the Issuer and 60 days after the end of each fiscal quarter, an
Officer’s Certificate, as to compliance herewith, including whether or not, after a review of the
activities of the Issuer during such year or such quarter and of the Issuer’s and each Guarantor’s
performance under this Indenture, to the best knowledge, based on such review, of the signers
thereof, the Issuer and each Guarantor have fulfilled all of their respective obligations and are
in compliance with all conditions and covenants under this Indenture throughout such year or
quarter, as the case may be, and, if there has been a Default specifying each Default and the
nature and status thereof and any actions being taken by the Issuer and the Guarantors with respect
thereto.

          (b) When any Default or Event of Default has occurred and is continuing, the Issuer shall
deliver to the Trustee by registered or certified mail or facsimile transmission of an Officer’s
Certificate specifying such Default or Event of Default, within five Business Days after becoming
aware of the occurrence of such Default or Event of Default.

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ARTICLE 5

SUCCESSORS

Section 5.01 Consolidation, Merger or Sale of Assets.

          (a) The Issuer will not, in a single transaction or through a series of related transactions,
consolidate with or merge with or into any other Person or sell, assign, convey, transfer, lease or
otherwise dispose of all or substantially all of its properties and assets to any Person or group
of Persons, or permit any of its Restricted Subsidiaries to enter into any such transaction or
series of transactions, if such transaction or series of transactions, in the aggregate, would
result in a sale, assignment, conveyance, transfer, lease or disposition of all or substantially
all of the properties and assets of the Issuer and its Restricted Subsidiaries on a consolidated
basis to any other Person or group of Persons, unless at the time and after giving effect thereto

     (1) either (a) the Issuer will be the continuing corporation or (b) the Person formed
by or surviving such consolidation or merger or the Person which acquires by sale,
assignment, conveyance, transfer, lease or disposition all or substantially all of the
properties and assets of the Issuer and its Restricted Subsidiaries on a consolidated basis
(the “Surviving Entity”) (i) shall be a corporation duly organized and validly
existing under the laws of the United States of America, any state thereof or the District
of Columbia, (ii) shall expressly assume by a supplemental indenture, in a form reasonably
satisfactory to the Trustee, all the obligations of the Issuer under the Notes and this
Indenture and the Registration Rights Agreement, as the case may be, and the Notes and this
Indenture and the Registration Rights Agreement will remain in full force and effect as so
supplemented (and any Guarantees will be confirmed as applying to such Surviving Entity’s
obligations) and (iii) shall expressly assume the due and punctual performance of the
covenants and obligations of the Issuer under the Security Documents;

     (2) after giving effect to such transaction, no Default or Event of Default exists;

     (3) after giving effect to such transaction, the Issuer (or the Surviving Entity if the
Issuer is not the continuing obligor under this Indenture) could incur $1.00 of additional
Indebtedness (other than Permitted Indebtedness) under the provisions of Section 4.05(a);

     (4) at the time of the transaction, each Guarantor, if any, unless it is the other
party to the transactions described above, will have by supplemental indenture confirmed
that its Guarantee shall apply to such Person’s obligations under this Indenture and the
Notes;

     (5) at the time of the transaction, the Issuer or the Surviving Entity will have
delivered, or caused to be delivered, to the Trustee, in form and substance reasonably
satisfactory to the Trustee, an Officer’s Certificate and an Opinion of Counsel, each to the
effect that such consolidation, merger, transfer, sale, assignment, conveyance, transfer,
lease or other transaction and the supplemental indenture in respect thereof comply with
this Indenture and that all conditions provided for in this Section 5.01 relating to such
transaction have been complied with;

     (6) the Issuer or the Surviving Entity, as applicable, promptly causes such amendments,
supplements or other instruments to be executed, delivered, filed and recorded, as
applicable, in such jurisdictions as may be required by applicable law to preserve and
protect the Lien of the Security Documents on the Collateral owned by or transferred to the
Issuer or the Surviving Entity; and

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     (7) the Collateral owned by or transferred to the Issuer or the Surviving Entity, as
applicable, shall (a) continue to constitute Collateral under this Indenture and the
Security Documents, (b) be subject to the Lien in favor of the Collateral Agent for the
benefit of the Trustee and the holders of the Notes, and (c) not be subject to any Lien
other than Permitted Liens.

     Notwithstanding Section 5.01(a)(3), (1) any Restricted Subsidiary may consolidate with, merge
into or transfer all or part of its properties and assets to the Issuer or another Restricted
Subsidiary and (2) the Issuer may merge with an Affiliate that has no significant assets or
liabilities and was formed solely for the purpose of changing the Issuer’s jurisdiction of
organization to another state of the United States, provided that the Surviving Entity
assumes, by supplemental indenture in form reasonably satisfactory to the Trustee, the Issuer’s
obligation under this Indenture and the Registration Rights Agreement.

          (b) Each Guarantor will not, and the Issuer will not permit a Guarantor to, in a single
transaction or through a series of related transactions, consolidate with or merge with or into any
other Person (other than the Issuer or any Guarantor) or sell, assign, convey, transfer, lease or
otherwise dispose of all or substantially all of its properties and assets to any Person or group
of Persons (other than the Issuer or any Guarantor) or permit any of its Restricted Subsidiaries to
enter into any such transaction or series of transactions if such transaction or series of
transactions, in the aggregate, would result in a sale, assignment, conveyance, transfer, lease or
disposition of all or substantially all of the properties and assets of the Guarantor and its
Restricted Subsidiaries on a consolidated basis to any other Person or group of Persons (other than
the Issuer or any Guarantor), unless at the time and after giving effect thereto:

     (1) either (a) the Guarantor will be the continuing corporation in the case of a
consolidation or merger involving the Guarantor or (b) the Person formed by or surviving
such consolidation or merger or the Person which acquires by sale, assignment, conveyance,
transfer, lease or disposition all or substantially all of the properties and assets of the
Guarantor and its Restricted Subsidiaries on a consolidated basis (the “Surviving
Guarantor Entity”) will be a corporation, limited liability company, limited liability
partnership, partnership or trust duly organized and validly existing under the laws of the
United States of America, any state thereof or the District of Columbia and such Person (i)
expressly assumes, by a supplemental indenture, in a form reasonably satisfactory to the
Trustee, all the obligations of such Guarantor under its Guarantee of the Notes and this
Indenture and the Registration Rights Agreement and such Guarantee, Indenture and
Registration Rights Agreement will remain in full force and effect; and (ii) shall expressly
assume the due and punctual performance of the covenants and obligations of the applicable
Guarantor under the Security Documents;

     (2) after giving effect to such transaction, no Default or Event of Default exists;

     (3) at the time of the transaction such Guarantor or the Surviving Guarantor Entity
will have delivered, or caused to be delivered, to the Trustee, in form and substance
reasonably satisfactory to the Trustee, an Officer’s Certificate and an Opinion of Counsel,
each to the effect that such consolidation, merger, transfer, sale, assignment, conveyance,
lease or other transaction and the supplemental indenture in respect thereof comply with
this Indenture and that all conditions precedent therein provided for relating to such
transaction have been complied with;

     (4) the Guarantor or the Surviving Guarantor Entity, as applicable, promptly causes
such amendments, supplements or other instruments to be executed, delivered, filed and
recorded, as applicable, in such jurisdictions as may be required by applicable law to
preserve and protect the Lien of the Security Documents on the Collateral owned by or
transferred to the Guarantor or the Surviving Guarantor Entity;

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     (5) the Collateral owned by or transferred to the Guarantor or the Surviving Guarantor
Entity, as applicable, shall (a) continue to constitute Collateral under this Indenture and
the Security Documents, (b) be subject to the Lien in favor of the Collateral Agent for the
benefit of the Trustee and the Holders of the Notes, and (c) not be subject to any Lien
other than Permitted Liens; and

     (6) the property and assets of the Person which is merged or consolidated with or into
the Guarantor or the Surviving Guarantor Entity, as applicable, to the extent that they are
property or assets of the types which would constitute Collateral under the Security
Documents, shall be treated as after-acquired property and the Guarantor or the Surviving
Guarantor Entity shall take such action as may be reasonably necessary to cause such
property and assets to be made subject to the Lien of the Security Documents in the manner
and to the extent required in this Indenture;

provided, however, that this Section 5.01(b) shall not apply to any Guarantor whose
Guarantee of the Notes is unconditionally released and discharged in accordance with Section 13.06.

Section 5.02 Successor Substituted.

          Upon any consolidation or merger, or any sale, assignment, conveyance, transfer, lease or
disposition of all or substantially all of the properties and assets of the Issuer or any
Guarantor, if any, in accordance with Section 5.01, the successor Person formed by such
consolidation or into which the Issuer or such Guarantor, as the case may be, is merged, or the
successor Person to which such sale, assignment, conveyance, transfer, lease or disposition is
made, shall succeed to, and be substituted for, and may exercise every right and power of, the
Issuer or such Guarantor, as the case may be, under this Indenture, the Notes and/or the related
Guarantee, as the case may be, and the Registration Rights Agreement, with the same effect as if
such successor had been named as the Issuer or such Guarantor, as the case may be, herein, in the
Notes and/or in the Guarantee, as the case may be, and the Registration Rights Agreement, and the
Issuer and such Guarantor, as the case may be, shall be discharged from all obligations and
covenants under this Indenture and the Notes or its Guarantee, as the case may be, and the
Registration Rights Agreement; provided that in the case of a transfer by lease, the
predecessor shall not be released from the payment of principal and interest on the Notes or its
Guarantee, as the case may be.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

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

     (1) there shall be a default in the payment of any interest on any Note when it becomes
due and payable, and such default shall continue for a period of 30 days;

     (2) there shall be a default in the payment of the principal of (or premium, if any,
on) any Note at its Maturity (upon acceleration, optional redemption, required repurchase or
otherwise);

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     (3) (a) there shall be a default in the performance, or breach, of any covenant or
agreement of the Issuer or any Guarantor under this Indenture, any Guarantee or any Security
Document (other than a default in the performance, or breach, of a covenant or agreement
which is specifically dealt with in clause (1) or (2) above or subclause (b), (c) or (d) of
this clause (3) and such default or breach shall continue for a period of 30 days with
respect to defaults or breaches of the items set forth under Article 4, and 60 days in all
other cases, in each case after written notice has been given, by certified mail, (1) to the
Issuer by the Trustee or (2) to the Issuer and the Trustee by the Holders of at least 25% in
aggregate principal amount of the outstanding Notes; (b) there shall be a default in the
performance or breach of the provisions described in Section 5.01; (c) the Issuer shall have
failed to make or consummate an Offer in accordance with the provisions of Section 4.09; or
(d) the Issuer shall have failed to make or consummate a Change of Control Offer in
accordance with the provisions of Section 4.11;

     (4) (a) any default in the payment of the principal or premium, if any, on any
Indebtedness when due under any of the agreements, indentures or instruments under which the
Issuer, any Guarantor or any Restricted Subsidiary then has outstanding Indebtedness in
excess of $15 million and such default shall have continued after giving effect to any
applicable grace period and shall not have been cured or waived and, if not already matured
at its final maturity in accordance with its terms, the holder of such Indebtedness shall
have the right to accelerate such Indebtedness or (b) an event of default as defined in any
of the agreements, indentures or instruments described in subclause (a) of this clause (4)
shall have occurred and the Indebtedness thereunder, if not already matured at its final
maturity in accordance with its terms, shall have been accelerated;

     (5) any Guarantee of any Significant Subsidiary or any group of Restricted Subsidiaries
which collectively (as of the latest audited consolidated financial statements for the
Issuer) would constitute a Significant Subsidiary shall for any reason cease to be, or shall
for any reason be asserted in writing by any Guarantor or the Issuer not to be, in full
force and effect and enforceable in accordance with its terms, except to the extent
permitted by this Indenture and any such Guarantee;

     (6) one or more final, non-appealable judgments or orders of any court or regulatory or
administrative agency for the payment of money in excess of $15 million (net of any amounts
to the extent that they are covered by insurance), either individually or in the aggregate,
shall be rendered against the Issuer, any Guarantor or any Subsidiary which has not been
discharged, fully bonded or stayed for a period of 60 consecutive days;

     (7) there shall have been the entry of a decree or order that remains unstayed and in
effect for 60 consecutive days by a court of competent jurisdiction under any applicable
Bankruptcy Law (a) for relief in an involuntary case or proceeding in respect of the Issuer,
any Significant Subsidiary or any group of Restricted Subsidiaries which collectively (as of
the latest audited consolidated financial statements for the Issuer and its Restricted
Subsidiaries) would constitute a Significant Subsidiary or (b) adjudging the Issuer, any
Significant Subsidiary or any group of Restricted Subsidiaries which collectively (as of the
latest audited consolidated financial statements for the Issuer and its Restricted
Subsidiaries) would constitute a Significant Subsidiary bankrupt or insolvent or (c) seeking
reorganization, arrangement, adjustment or composition under any applicable federal or state
law of or in respect of the Issuer, any Significant Subsidiary or any group of Restricted
Subsidiaries which collectively (as of the latest audited consolidated financial statements
for the Issuer and its Restricted Subsidiaries) would constitute a Significant Subsidiary or
(d) appointing a custodian of the Issuer, any Significant Subsidiary or any group of
Restricted

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Subsidiaries which collectively (as of the latest audited consolidated financial
statements for the Issuer and its Restricted Subsidiaries) would constitute a Significant
Subsidiary or of substantially all of the assets of the Issuer or such Significant
Subsidiary, or ordering the winding up or liquidation of their affairs;

     (8) the Issuer, any Significant Subsidiary or any group of Restricted Subsidiaries
which collectively (as of the latest audited consolidated financial statements for the
Issuer and its Restricted Subsidiaries) would constitute a Significant Subsidiary (i)
commences a voluntary case or proceeding in respect of the Issuer, such Significant
Subsidiary or such group of Restricted Subsidiaries under any applicable Bankruptcy Law or
any other case or proceeding to be adjudicated bankrupt or insolvent, (ii) consents to the
entry of a decree or order for debt relief in respect of the Issuer, such Significant
Subsidiary or such group of Restricted Subsidiaries in an involuntary case or proceeding
under any applicable Bankruptcy Law or to the commencement of any bankruptcy or insolvency
case or proceeding against it, (iii) files a petition or answer or consent seeking
reorganization or debt relief in respect of the Issuer, such Significant Subsidiary or such
group of Restricted Subsidiaries under any Bankruptcy Law or applicable federal or state
insolvency law, (iv) consents to the filing of such petition for the appointment of, or
taking possession by, a custodian of the Issuer, such Significant Subsidiary or such group
of Restricted Subsidiaries or of substantially all of the assets of the Issuer or such
Significant Subsidiary, (v) makes an assignment for the benefit of creditors, (vi) admits in
writing its inability to pay its debts generally as they become due or (vii) takes any
corporate action to authorize any such actions in this clause (8); or

     (9) unless all of the Collateral has been released from the Note Liens in accordance
with the provisions of the Security Documents, (x) default by the Issuer or any Subsidiary
in the performance of the Security Documents which materially adversely affects the
enforceability, validity, perfection or priority of the Note Liens on a material portion of
the Collateral, (y) the repudiation or disaffirmation by the Issuer or any Guarantor of its
material obligations under the Security Documents or (z) the determination in a judicial
proceeding that the Security Documents are unenforceable or invalid against the Issuer or
any Guarantor party thereto for any reason with respect to a material portion of the
Collateral and, in the case of any event described in subclauses (x) through (z), such
default, repudiation, disaffirmation or determination is not rescinded, stayed, or waived by
the Persons having such authority pursuant to the Security Documents) or otherwise cured
within 60 days after the Issuer receives written notice thereof specifying such occurrence
from the Trustee or the Holders of at least 25% of the outstanding principal amount of the
Notes and demanding that such default be remedied.

Section 6.02 Acceleration.

          If an Event of Default (other than as specified in Section 6.01(a)(7) or (8) with respect to
the Issuer) shall occur and be continuing with respect to this Indenture, the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Notes then outstanding may, and
the Trustee at the request of such Holders shall, declare all unpaid principal of, premium, if any,
and accrued interest on all Notes to be due and payable immediately, by a notice in writing to the
Issuer (and to the Trustee if given by the Holders of the Notes) and upon any such declaration,
such principal, premium, if any, and interest shall become due and payable immediately. If an
Event of Default specified in Section 6.01(a)(7) or (8) with respect to the Issuer occurs and is
continuing, then all the Notes shall automatically become and be due and payable immediately in an
amount equal to the principal amount of the Notes, together with accrued and unpaid interest, if
any, to the date the Notes become due and payable, without any declaration or other act on the part
of the Trustee or any Holder.

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          After a declaration of acceleration, but before a judgment or decree for payment of the money
due has been obtained by the Trustee, the holders of a majority in aggregate principal amount of
Notes outstanding by written notice to the Issuer and the Trustee, may rescind and annul such
declaration and its consequences if:

     (a) the Issuer has paid or deposited with the Trustee a sum sufficient to pay (1) all
sums paid or advanced by the Trustee under this Indenture and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, (2) all overdue
interest on all Notes then outstanding, (3) the principal of, and premium, if any, on any
Notes then outstanding which have become due otherwise than by such declaration of
acceleration and interest thereon at the rate borne by the Notes and (4) to the extent that
payment of such interest is lawful, interest upon overdue interest at the rate borne by the
Notes; and

     (b) all Events of Default, other than the non-payment of principal of, premium, if any,
and interest on the Notes which have become due solely by such declaration of acceleration,
have been cured or waived.

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

Section 6.03 Other Remedies.

          If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the
performance of any provision of the Notes, this Indenture or any Security Document.

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

Section 6.04 Waiver of Past Defaults.

          The Holders of not less than a majority in aggregate principal amount of the Notes outstanding
may on behalf of the Holders of all outstanding Notes waive any past Default under this Indenture
and its consequences, except a Default (1) in the payment of the principal of, premium, if any, or
interest on any Note (which may only be waived with the consent of each Holder of Notes effected)
or (2) in respect of a covenant or provision which under this Indenture cannot be modified or
amended without the consent of the Holder of each Note affected by such modification or amendment.

Section 6.05 Control by Majority.

          Subject to the terms of the Intercreditor Agreement, the Holders of a majority in principal
amount of the then total outstanding Notes 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. The Trustee, however, may refuse to follow any direction that conflicts with law or
this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other
Holder of a Note or that would involve the Trustee in personal liability.

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Section 6.06 Limitation on Suits.

          No Holder of any of the Notes has any right to institute any proceedings with respect to this
Indenture or any remedy thereunder, unless (a) such Holder has previously given notice to the
Trustee of a continuing Event of Default; (b) the holders of at least 25% in aggregate principal
amount of the outstanding Notes have made written request to the Trustee to institute proceedings
in respect of such Event of Default in its own name as trustee under this Indenture and the Notes;
(c) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs,
expenses and liabilities to be incurred in compliance with such request; (d) the Trustee has failed
to institute such proceeding within 15 days after receipt of such notice; and (e) the Trustee,
within such 15-day period, has not received directions inconsistent with such written request by
Holders of a majority in aggregate principal amount of the outstanding Notes. Such limitations do
not, however, apply to a suit instituted by a Holder of a Note for the enforcement of the payment
of the principal of, premium, if any, or interest on such Note on or after the respective due dates
expressed in such Note.

Section 6.07 Rights of Holders of Notes to Receive Payment.

          Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal, premium, if any, and Additional Interest, if any, and interest on the
Note, on or after the respective due dates expressed in the Note (including in connection with an
Offer or a Change of Control Offer), 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(1) or (2) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Issuer for the whole amount of principal of, premium, if any, and Additional Interest,
if any, and interest remaining unpaid on the Notes and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

Section 6.09 Restoration of Rights and Remedies.

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

Section 6.10 Rights and Remedies Cumulative.

          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Notes in Section 2.07, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy.

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Section 6.11 Delay or Omission Not Waiver.

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

Section 6.12 Trustee May File Proofs of Claim.

          Subject to the Intercreditor Agreement, the Trustee is authorized to 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 the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial
proceedings relative to the Issuer (or any other obligor upon the Notes including the Guarantors),
its creditors or its property and shall be entitled and empowered to participate as a member in any
official committee of creditors appointed in such matter and to collect, receive and distribute any
money or other property payable or deliverable on any such claims and any custodian in any such
judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and
in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of
the same shall be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be entitled to receive in
such proceeding whether in liquidation or under any plan of reorganization or arrangement or
otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

Section 6.13 Priorities.

          Subject to the Security Documents, if the Trustee collects any money pursuant to this Article
6 (including any amounts received from the Collateral Agent), it shall pay out the money in the
following order:

     (i) to the Trustee, Paying Agent, Registrar, Transfer Agent, their agents and attorneys
for amounts due under Section 7.07, including payment of all compensation, expenses and
liabilities incurred, and all advances made, by the Trustee, Paying Agent, Registrar or
Transfer Agent and the costs and expenses of collection;

     (ii) to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, and Additional Interest, if any, and interest, ratably, without preference
or priority of any kind, according to the amounts due and payable on the Notes for
principal, premium, if any, and Additional Interest, if any, and interest, respectively; and

     (iii) to the Issuer or to such party as a court of competent jurisdiction shall direct,
including a Guarantor, if applicable.

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          The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.13.

Section 6.14 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 a 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, 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 6.14 does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 6.07, or a suit by Holders of more than
10% in principal amount of the then outstanding Notes.

ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

          (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its 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 duties of the Trustee shall be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (ii) 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. However, in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, 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 liabilities for its own grossly negligent action, its
own grossly 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 7.01;

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

     (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.

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          (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01.

          (e) The Trustee shall be under no obligation to exercise any of its rights or powers under
this Indenture at the request or direction of any of the Holders of the Notes unless the Holders
have offered to the Trustee indemnity or security reasonably satisfactory to it against any loss,
liability or expense.

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

Section 7.02 Rights of Trustee.

          (a) The Trustee may conclusively rely upon 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, 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 sole cost of the Issuer and shall
incur no liability or additional liability of any kind by reason of such inquiry or investigation.

          (b) Before the Trustee acts or refrains from acting, it may require an Officer’s 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 such Officer’s Certificate or Opinion of Counsel. The Trustee
may consult with counsel of its selection and the written advice of such counsel or any Opinion of
Counsel shall be full and complete authorization and protection from liability in respect of any
action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

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

          (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

          (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer.

          (f) None of the provisions of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise to incur any liability, financial or otherwise, in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable
grounds for believing that repayment of such funds or indemnity satisfactory to it against such
risk or liability is not assured to it.

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

          (h) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective

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 of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

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

          (j) In the event the Issuer is required to pay Additional Interest, the Issuer will provide
written notice to the Trustee of the Issuer’s obligation to pay Additional Interest no later than
15 days prior to the next Interest Payment Date, which notice shall set forth the amount of the
Additional Interest to be paid by the Issuer. The Trustee shall not at any time be under any duty
or responsibility to any Holders to determine whether the Additional Interest is payable and the
amount thereof.

Section 7.03 Individual Rights of Trustee.

          The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuer or any Affiliate of the Issuer with the same rights it would
have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest it must eliminate such conflict within 90 days, apply to the SEC for permission to
continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee
is also subject to 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 or the Notes, it shall not be accountable for the Issuer’s use of the
proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any
provision of this Indenture, it shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it shall not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

Section 7.05 Notice of Defaults.

          If a Default occurs and is continuing and if it is known to the Trustee, the Trustee shall
mail to Holders of Notes a notice of the Default within 90 days after it occurs. Except in the
case of a Default relating to the payment of principal, premium, if any, or interest on any Note,
the Trustee may withhold from the Holders notice of any continuing Default if and so long as a
committee of its Responsible Officers in good faith determines that withholding the notice is in
the interests of the Holders of the Notes. The Trustee shall not be deemed to know of any Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice
of any event which is such a Default is received by the Trustee at the Corporate Trust Office of
the Trustee.

Section 7.06 Reports by Trustee to Holders of the Notes.

          Within 60 days after each May 15, beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of
the Notes a brief report dated as of such reporting date that complies with Trust Indenture Act
Section 313(a) (but if no event described in Trust Indenture Act Section 313(a) has occurred within
the twelve months preceding the reporting date, no report need be transmitted). The Trustee also
shall comply with Trust Indenture

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Act Section 313(b)(2). The Trustee shall also transmit by mail all reports as required by
Trust Indenture Act Section 313(c).

          A copy of each report at the time of its mailing to the Holders of Notes shall be mailed to
the Issuer and filed with the SEC and each stock exchange on which the Notes are listed in
accordance with Trust Indenture Act Section 313(d). The Issuer shall promptly notify the Trustee
when, if applicable, the Notes are listed on any stock exchange.

Section 7.07 Compensation and Indemnity.

          The Issuer and the Guarantors, jointly and severally, shall pay to the Trustee from time to
time such compensation for its acceptance of this Indenture and services hereunder as the parties
shall agree in writing from time to time. The Trustee’s compensation shall not be limited by any
law on compensation of a trustee of an express trust. The Issuer and the Guarantors, jointly and
severally, shall reimburse the Trustee promptly upon request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation for its services.
Such expenses shall include the reasonable compensation, disbursements and expenses of the
Trustee’s agents and counsel.

          The Issuer and the Guarantors, jointly and severally, shall indemnify the Trustee for, and
hold the Trustee harmless against, any and all loss, damage, claims, liability or expense
(including attorneys’ fees and expenses) incurred by it 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 against the Issuer or any of the Guarantors (including this
Section 7.07) or defending itself against any claim whether asserted by any Holder, the Issuer or
any Guarantor, or liability in connection with the acceptance, exercise or performance of any of
its powers or duties hereunder). The Trustee shall notify the Issuer promptly of any claim for
which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the
Issuer of its obligations hereunder. The Issuer shall defend the claim and the Trustee may have
separate counsel and the Issuer shall pay the fees and expenses of such counsel. The Issuer and
the Guarantors need not reimburse any expense or indemnify against any loss, liability or expense
incurred by the Trustee through the Trustee’s own willful misconduct, gross negligence or bad
faith.

          The obligations of the Issuer under this Section 7.07 shall survive the satisfaction and
discharge of this Indenture or the earlier resignation or removal of the Trustee.

          Notwithstanding anything contrary in Section 4.08 hereto, to secure the payment obligations of
the Issuer and the Guarantors in this Section 7.07, the Trustee shall have a Lien prior to the
Notes on all money or property held or collected by the Trustee, except that held in trust to pay
principal and interest on particular Notes. Such Lien shall survive the satisfaction and discharge
of this Indenture.

          When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(6) or (7) occurs, the expenses and the compensation for the services (including the
fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.

          The Trustee shall comply with the provisions of Trust Indenture Act Section 313(b)(2) to the
extent applicable. As used in this Section 7.07, the term “Trustee” shall also include each of the
Paying Agent, Registrar, and Transfer Agent, as applicable.

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Section 7.08 Replacement of Trustee.

          A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.08. The Trustee may resign in writing at any time and the Registrar, Paying Agent and Transfer
Agent may resign with 90 days prior written notice and be discharged from the trust hereby created
by so notifying the Issuer. The Holders of a majority in principal amount of the then outstanding
Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing and may remove
the Registrar, Paying Agent or Transfer Agent by so notifying such Registrar, Paying Agent or
Transfer Agent, as applicable, with 90 days prior written notice. The Issuer may remove the
Trustee if:

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

     (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (c) a custodian or public officer takes charge of the Trustee or its property; or

     (d) the Trustee becomes incapable of acting.

          If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Issuer shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes
may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.

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

          If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          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 mail a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and
subject to the Lien provided for in Section 7.07. Notwithstanding replacement of the Trustee
pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the
benefit of the retiring Trustee.

          As used in this Section 7.08, the term “Trustee” shall also include each of the Paying Agent,
Registrar and Transfer Agent, as applicable.

Section 7.09 Successor Trustee by Merger, etc.

          If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act shall be the successor Trustee.

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Section 7.10 Eligibility; Disqualification.

          There shall at all times be a Trustee hereunder that is a corporation or national banking
association organized and doing business under the laws of the United States of America or of any
state thereof that is authorized under such laws to exercise corporate trustee power, that is
subject to supervision or examination by federal or state authorities and that has a combined
capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition.

          This Indenture shall always have a Trustee who satisfies the requirements of Trust Indenture
Act Sections 310(a)(1), (2) and (5). The Trustee is subject to Trust Indenture Act Section 310(b).

Section 7.11 Preferential Collection of Claims Against Issuer.

          The Trustee is subject to Trust Indenture Act Section 311(a), excluding any creditor
relationship listed in Trust Indenture Act Section 311(b). A Trustee who has resigned or been
removed shall be subject to Trust Indenture Act Section 311(a) to the extent indicated therein.

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

          The Issuer may, at its option and at any time, elect to have either Section 8.02 or 8.03
applied to all outstanding Notes upon compliance with the conditions set forth below in this
Article 8.

Section 8.02 Legal Defeasance and Discharge.

          Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.02,
the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth in
Section 8.04, be deemed to have been discharged from their obligations with respect to all
outstanding Notes and Guarantees on the date the conditions set forth below are satisfied
(“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer shall be
deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes,
which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 and the
other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its
other obligations under such Notes and this Indenture including that of the Guarantors (and the
Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive until otherwise
terminated or discharged hereunder:

     (a) the rights of Holders of Notes to receive payments in respect of the principal of,
premium, if any, and interest on the Notes when such payments are due solely out of the
trust referred to in Section 8.05;

     (b) the Issuer’s obligations with respect to Notes concerning issuing temporary Notes,
registration of such Notes, mutilated, destroyed, lost or stolen Notes and the maintenance
of an office or agency for payment and money for security payments held in trust;

     (c) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s
obligations in connection therewith; and

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     (d) this Section 8.02.

          Subject to compliance with this Article 8, the Issuer may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03.

Section 8.03 Covenant Defeasance.

          Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03,
the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth in
Section 8.04, be released from their obligations under the covenants contained in Sections 4.03,
4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14 and 4.15, clauses (2) through (7) of
Section 5.01(a) and Sections 5.01(b) with respect to the outstanding Notes on and after the date
the conditions set forth in Section 8.04 are satisfied (“Covenant Defeasance”), and the
Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver,
consent or declaration or act of Holders (and the consequences of any thereof) in connection with
such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Notes shall not be deemed outstanding for accounting purposes). For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer may
omit to comply with and shall have no liability in respect of any term, condition or limitation set
forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant to any other
provision herein or in any other document and such omission to comply shall not constitute a
Default or an Event of Default under Section 6.01, but, except as specified above, the remainder of
this Indenture and such Notes shall be unaffected thereby. In addition, upon the Issuer’s exercise
under Section 8.01 of the option applicable to this Section 8.03, subject to the satisfaction of
the conditions set forth in Section 8.04, Sections 6.01(3) (as it relates to the covenants
specified above), 6.01(4), 6.01(5), 6.01(6), 6.01(7) (solely with respect to Restricted
Subsidiaries that are Significant Subsidiaries), 6.01(8) (solely with respect to Restricted
Subsidiaries that are Significant Subsidiaries) and 6.01(9) shall not constitute Events of Default.

Section 8.04 Conditions to Legal or Covenant Defeasance.

          The following shall be the conditions to the application of either Section 8.02 or 8.03 to the
outstanding Notes:

          In order to exercise either Legal Defeasance or Covenant Defeasance with respect to the Notes:

     (1) the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of the Notes, cash in U.S. dollars, Government Securities, or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
firm of independent public accountants or a nationally recognized investment banking firm,
to pay the principal of, premium, if any, and interest due on the Notes on the Maturity
thereof or, to the extent the Issuer has previously provided a notice of redemption with
respect to the outstanding Notes, on the applicable Redemption Date, as the case may be, of
such principal, premium, if any, or interest on such Notes, and the Issuer must specify
whether such Notes are being defeased to Maturity or to a particular Redemption Date;

     (2) in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an
Opinion of Counsel from independent counsel in the United States reasonably acceptable to
the Trustee confirming that, subject to customary assumptions and exclusions,

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     (a) the Issuer has received from, or there has been published by, the United
States Internal Revenue Service a ruling, or

     (b) since the issuance of the Notes, there has been a change in the applicable
U.S. federal income tax law,

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that the Holders of the Notes will not recognize income, gain or loss for U.S. federal
income tax purposes, as applicable, as a result of such Legal Defeasance and will be subject
to U.S. federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred;

     (3) in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of
the Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a
result of such Covenant Defeasance and will be subject to such tax on the same amounts, in
the same manner and at the same times as would have been the case if such Covenant
Defeasance had not occurred;

     (4) no Default or Event of Default pursuant to Section 6.01(7) shall have occurred and
be continuing on the date of such deposit or at any time during the period ending on the
91st day after the date of deposit;

     (5) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under the Indenture or any other material agreement to
which the Issuer or any Guarantor is a party or by which the Issuer or any Guarantor is
bound;

     (6) the Issuer shall have delivered to the Trustee an Opinion of Counsel from
independent counsel in the United States to the effect that (assuming no Holder of the Notes
would be considered an insider of the Issuer or any Guarantor under any applicable
bankruptcy or insolvency law and assuming no intervening bankruptcy or insolvency of the
Issuer or any Guarantor between the date of deposit and the 91st day following the deposit)
after the 91st day following the deposit, the trust funds will not be subject to the effect
of any applicable bankruptcy, insolvency, reorganization or similar laws affecting
creditors’ rights generally;

     (7) no event or condition shall exist that would prevent the Issuer from making
payments of the principal of, premium, if any, and interest on the Notes on the date of such
deposit or at any time ending on the 91st day after the date of such deposit; and

     (8) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel each stating that all conditions precedent provided for or relating to
the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied
with.

			
	Section 8.05	 	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

          Subject to Section 8.06, all money and Government Securities (including the proceeds thereof)
deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section
8.05, the “Trustee”) pursuant to Section 8.04 in respect of the outstanding Notes shall be
held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this
Indenture, to the payment, either directly or through any Paying Agent (including the Issuer or a
Guarantor acting as Paying

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Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to
become due thereon in respect of principal, premium and Additional Interest, if any, and interest,
but such money need not be segregated from other funds except to the extent required by law.

          The Issuer shall pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or Government Securities deposited pursuant to Section 8.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of the outstanding Notes.

          Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuer from time to time upon the written request of the Issuer any money or Government
Securities held by it as provided in Section 8.04 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under Section 8.04(2)), are in excess of the amount
thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or
Covenant Defeasance.

Section 8.06 Repayment to Issuer.

          Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust
for the payment of the principal of, premium and Additional Interest, if any, or interest on any
Note and remaining unclaimed for two years after such principal, and premium and Additional
Interest, if any, or interest has become due and payable shall be paid to the Issuer on its request
or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note
shall thereafter look only to the Issuer for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee
thereof, shall thereupon cease.

Section 8.07 Reinstatement.

          If the Trustee or Paying Agent is unable to apply any U.S. dollars or Government Securities in
accordance with Section 8.04 or 8.05, as the case may be, by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting such application,
then the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as
though no deposit had occurred pursuant to Section 8.04 or 8.05 until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 8.04 or 8.05, as the
case may be; provided that, if the Issuer makes any payment of principal of, premium and
Additional Interest, if any, or interest on any Note following the reinstatement of its
obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive
such payment from the money held by the Trustee or Paying Agent.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

          Notwithstanding Section 9.02, the Issuer, any Guarantor and the Trustee may amend or
supplement this Indenture, any Guarantee, any Security Document or Notes without the consent of any
Holder:

     (1) to evidence the succession of another Person to the Issuer or a Guarantor, and the
assumption by any such successor of the covenants of the Issuer or such Guarantor in this
Indenture, the Notes, any Guarantee and the Security Documents in accordance with Section
5.01;

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     (2) to add to the covenants of the Issuer, any Guarantor or any other obligor upon the
Notes for the benefit of the Holders of the Notes or to surrender any right or power
conferred upon the Issuer or any Guarantor or any other obligor upon the Notes, as
applicable, in this Indenture, the Notes, any Guarantee or any Security Document;

     (3) to cure any ambiguity, or to correct or supplement any provision in this Indenture,
the Notes, any Guarantee or any Security Document which may be defective or inconsistent
with any other provision in this Indenture, the Notes, any Guarantee or any Security
Document or make any other provisions with respect to matters or questions arising under
this Indenture, the Notes, any Guarantee or any Security Document; provided that, in
each case, such provisions shall not adversely affect the interest of the Holders of the
Notes in any material respect;

     (4) to comply with the requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act;

     (5) to add to the Collateral securing the Notes or to add a Guarantor under this
Indenture;

     (6) to evidence and provide the acceptance of the appointment of a successor Trustee or
Collateral Agent under this Indenture and the Security Documents;

     (7) to mortgage, pledge, hypothecate or grant a Lien in favor of the Collateral Agent
for the benefit of the Holders of the Notes as additional security for the payment and
performance of the Issuer’s and any Guarantor’s obligations under this Indenture, in any
property, or assets, including any of which are required to be mortgaged, pledged or
hypothecated, or in which a security interest is required to be granted to or for the
benefit of the Trustee or the Collateral Agent pursuant to this Indenture, any of the
Security Documents or otherwise;

     (8) to provide for the release of Collateral from the Lien of this Indenture and the
Security Documents when permitted or required by any of the Security Documents, the
Intercreditor Agreement or this Indenture;

     (9) to secure any Permitted Additional Pari Passu Obligations under the Security
Documents and to appropriately include the same in the Intercreditor Agreement; or

     (10) in the sole discretion of the Issuer, to conform any provision of this Indenture
to the provisions of the “Description of the Notes” contained in the Offering Memorandum to
the extent such provision was intended to be a verbatim recital of a provision contained
herein.

          The Holders of a majority in aggregate principal amount of the Notes outstanding may waive
compliance with certain restrictive covenants and provisions of this Indenture.

Section 9.02 With Consent of Holders of Notes.

          Except as provided below in this Section 9.02, the Issuer and the Trustee may amend or
supplement this Indenture, the Notes, the Guarantees and any Security Document with the consent of
the Holders of at least a majority in principal amount of the Notes (including Additional Notes, if
any) then outstanding voting as a single class (including, without limitation, consents obtained in
connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to
Sections 6.04 and 6.07, any existing Default or Event of Default (other than a Default or Event of
Default in the payment of the principal of, premium and Additional Interest, if any, or interest on
the Notes, except a payment default

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resulting from an acceleration that has been rescinded) or compliance with any provision of this
Indenture, the Guarantees, the Security Documents or the Notes may be waived with the consent of
the Holders of a majority in principal amount of the then outstanding Notes (including Additional
Notes, if any) voting as a single class (including consents obtained in connection with a tender
offer or exchange offer for, or purchase of, the Notes). Section 2.08 and Section 2.09 shall
determine which Notes are considered to be “outstanding” for the purposes of this Section 9.02.

          Without the consent of each affected Holder of Notes, an amendment or waiver under this
Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):

     (1) change the Maturity of the principal of, or any installment of interest on, or
change to an earlier date any redemption date of, or waive a default in the payment of the
principal of, premium, if any, or interest on, any such Note or reduce the principal amount
thereof or the rate of interest thereon or any premium payable upon the redemption thereof,
or change the coin or currency in which the principal of any such Note or any premium or the
interest thereon is payable, or impair the right to institute suit for the enforcement of
any such payment after the Maturity thereof (or, in the case of redemption, on or after the
Redemption Date);

     (2) amend, change or modify the obligation of the Issuer to make and consummate a
Change of Control Offer in the event of a Change of Control in accordance with Section 4.11,
including amending, changing or modifying any definitions related thereto;

     (3) reduce the percentage in principal amount of such outstanding Notes, the consent of
whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver or compliance with certain provisions of this Indenture;

     (4) modify any of the provisions relating to supplemental indentures requiring the
consent of Holders or relating to the waiver of past defaults or relating to the waiver of
certain covenants, except to increase the percentage of such outstanding Notes required for
such actions or to provide that certain other provisions of this Indenture cannot be
modified or waived without the consent of the Holder of each such Note affected thereby;

     (5) amend or modify any of the provisions of this Indenture in any manner which
subordinates the Notes issued thereunder in right of payment to any other Indebtedness of
the Issuer or which subordinates any Guarantee in right of payment to any other Indebtedness
of the Guarantor issuing any such Guarantee;

     (6) release any Guarantee except in compliance with the terms of this Indenture; or

     (7) release all or substantially all of the Collateral other than in accordance with
this Indenture.

Section 9.03 Compliance with Trust Indenture Act.

          Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended
or supplemental indenture that complies with the Trust Indenture Act as then in effect.

Section 9.04 Revocation and Effect of Consents.

          Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or

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portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation
of the consent is not made on any Note. An amendment, supplement or waiver becomes effective in
accordance with its terms and thereafter binds every Holder; provided that any amendment or waiver
that requires the consent of each affected Holder shall not become effective with respect to any
non-consenting Holder.

          The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement, or waiver. If a record
date is fixed, then, notwithstanding the preceding paragraph, those Persons who were Holders at
such record date (or their duly designated proxies), and only such Persons, shall be entitled to
consent to such amendment, supplement, or waiver or to revoke any consent previously given, 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 unless the consent of the requisite
number of Holders has been obtained.

Section 9.05 Notation on or Exchange of Notes.

          The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

          Failure to make the appropriate notation or issue a new Note shall not affect the validity and
effect of such amendment, supplement or waiver.

Section 9.06 Trustee to Sign Amendments, etc.

          The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article
9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. The Issuer may not sign an amendment, supplement or waiver until the
Board of Directors approves it. In executing any amendment, supplement or waiver, the Trustee
shall be entitled to receive and (subject to Section 7.01) shall be fully protected in relying
upon, in addition to the documents required by Section 15.04, an Officer’s Certificate and an
Opinion of Counsel stating that the execution of such amended or supplemental indenture 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 any Guarantors party thereto, enforceable
against them in accordance with its terms, subject to customary exceptions, and complies with the
provisions hereof (including Section 9.03). Notwithstanding the foregoing, no Opinion of Counsel
will be required for the Trustee to execute any amendment or supplement adding a new Guarantor
under this Indenture.

          It shall not be necessary for the consent of the Holders of Notes under this Article 9 to
approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such
consent approves the substance thereof. The consent of the Collateral Agent shall not be necessary
for any amendment, supplement or waiver to this Indenture, except for any amendment, supplement or
waiver to Article 10 or 11 or as to this sentence.

          After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer
shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Issuer to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
indenture or waiver.

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ARTICLE 10

INTERCREDITOR AGREEMENT

Section 10.01 Intercreditor Agreement.

          Each Holder agrees that the Note Liens are subject to the terms of the Intercreditor
Agreement. The Holders hereby authorize the Trustee and the Collateral Agent to enter into the
Intercreditor Agreement on behalf of the Holders and agree that the Holders shall comply with the
provisions of the Intercreditor Agreement applicable to them in their capacities as such to the
same extent as if the Holders were parties thereto.

ARTICLE 11

COLLATERAL

Section 11.01 Security Documents.

          The Indenture Obligations are secured as provided in the Security Documents and will be
secured by Security Documents hereafter delivered as required or permitted by this Indenture. The
Issuer shall, and shall cause each Guarantor to, and each Guarantor 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) as are required by the
Security Documents to maintain (at the sole cost and expense of the Issuer and the Guarantors) the
security interest created by the Security Documents in the Collateral as a perfected security
interest, subject only to Permitted Liens.

Section 11.02 Collateral Agent.

          (a) The Collateral Agent shall have all the rights and protections provided in the Security
Documents and, additionally, shall have all the rights and protections provided to the “Trustee”
under Article VII.

          (b) Subject to Section 7.01, none of the Collateral Agent, Trustee, Paying Agent, Registrar or
Transfer 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 Note Liens, or any defect or
deficiency as to any such matters.

          (c) Except as required or permitted by the Security Documents, the Holders acknowledge that
the Collateral Agent will not be obligated:

     (i) to act upon directions purported to be delivered to it by any other Person, except
in accordance with the Security Documents;

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

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

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Section 11.03 Authorization of Actions to Be Taken.

          (a) Each Holder of Notes, by its acceptance thereof, consents and agrees to the terms of each
Security Document, 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
Collateral Agent to enter into the Security Documents to which it is a party, authorizes and
empowers the Collateral Agent to execute and deliver the Intercreditor Agreement and authorizes and
empowers the Collateral Agent to bind the Holders of Notes and other holders of Indenture
Obligations as set forth in the Security Documents to which the Collateral Agent is a party and the
Intercreditor Agreement and to perform its obligations and exercise its rights and powers
thereunder.

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

          (c) Subject to the provisions of Section 7.01, Section 7.02, and the Security Documents, the
Trustee may, in its sole discretion and without the consent of the Holders, direct, on behalf of
the Holders, the 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 Note Liens;

     (ii) enforce any of the terms of the Security Documents to which the Collateral Agent
is a party; or

     (iii) collect and receive payment of any and all Obligations.

          Subject to the Intercreditor Agreement and at the Issuer’s sole cost and expense, the Trustee
is authorized and empowered to institute and maintain, or direct the Collateral Agent to institute
and maintain, such suits and proceedings as it may deem reasonably expedient to protect or enforce
the Note Liens or the Security Documents to which the 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 or this Indenture, and such suits and proceedings as the Trustee may deem
reasonably expedient, at the Issuer’s sole cost and expense, to preserve or protect its interests
and the interests of the Holders of Notes 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 Note Liens
or be prejudicial to the interests of Holders or the Trustee.

Section 11.04 Release of Collateral.

          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 or the Intercreditor Agreement. In addition, upon the request of the Issuer pursuant to
an Officer’s Certificate and Opinion of Counsel certifying that all conditions precedent hereunder
have been met, the Issuer and the Guarantors will be entitled to the release of assets included in
the Collateral from the Liens securing the Notes, and the Trustee shall (or, if the Trustee is not
then the Collateral Agent, shall direct the Collateral Agent to) release the same from such Liens
at the Issuer’s sole cost and expense, under any one or more of the following circumstances:

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     (1) in whole or in part, as applicable, as to all or any portion of property subject to
such Note Liens which has been taken by eminent domain, condemnation or other similar
circumstances;

     (2) in whole upon (a) satisfaction and discharge of the Indenture in accordance with
Article 13 or (b) a Legal Defeasance or Covenant Defeasance under Article 8;

     (3) in part, as to any property that (a) is sold, transferred or otherwise disposed of
by the Issuer or any Guarantor (other than to the Issuer or another Guarantor) in a
transaction not prohibited by this Indenture at the time of such sale, transfer or
disposition or (b) is owned or at any time acquired by a Guarantor that has been released
from its Guarantee pursuant to Section 13.06, concurrently with the release of such
Guarantee;

     (4) as to property that constitutes all or substantially all of the Collateral securing
the Notes, with the consent of each Holder of the Notes;

     (5) as to property that constitutes less than all or substantially all of the
Collateral securing the Notes, with the consent of the Holders of at least a majority in
aggregate principal amount of the Notes then outstanding; or

     (6) in part, in accordance with the applicable provisions of the Security Documents.

Section 11.05 Filing, Recording and Opinions.

          (a) The Issuer will comply with the provisions of Trust Indenture Act Sections 314(b) and
314(d), in each case following qualification of this Indenture pursuant to the Trust Indenture Act,
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 Trust Indenture Act Section 314(b)(2), the Issuer will
furnish such opinion not more than 60 but not less than 30 days prior to each September 30.

          (b) Any release of Collateral permitted by Section 11.04 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 Officer’s Certificate or Opinion of Counsel pursuant to Section 314(d) of
the Trust Indenture Act shall be entitled to rely upon the foregoing as a basis for delivery of
such certificate or opinion. The Trustee shall, to the extent permitted by Sections 7.01 and 7.02,
accept as conclusive evidence of compliance with the foregoing provisions the appropriate
statements contained in such Officer’s Certificate or Opinion of Counsel.

          (c) If any Collateral is released in accordance with this Indenture or any Security Document,
the Trustee will determine whether it has received all documentation required by Trust Indenture
Act Section 314(d) in connection with such release and, based on such determination and the Opinion
of Counsel delivered pursuant to Section 11.04(a), will, upon request, deliver a certificate to the
Collateral Agent and the Issuer setting forth such determination.

Section 11.06 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 Guarantor with respect to
the release, sale or other disposition of such property may be exercised by such receiver or
trustee, and an instrument

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signed by such receiver or trustee shall be deemed the equivalent of any similar instrument of
the Issuer or a Guarantor or of any officer or officers thereof required by the provisions of this
Article 11; and if the Trustee or the Collateral Agent shall be in the possession of the Collateral
under any provision of this Indenture, then such powers may be exercised by the Trustee or the
Collateral Agent, as the case may be.

ARTICLE 12

APPLICATION OF TRUST MONIES

Section 12.01 Collateral Account.

          No later than 30 days following the first date on which the Issuer or any Guarantor receives
any Trust Monies, there shall be established and, at all times thereafter until this Indenture
shall have terminated, there shall be maintained with the Collateral Agent the Collateral Account.
The Collateral Account shall be established and maintained by the Collateral Agent at the office of
the Collateral Agent. For the avoidance of doubt, no other deposit account or securities account
shall be, or shall be deemed to be, the Collateral Account, and Trust Monies shall include only
cash and cash equivalents required to be deposited into the Collateral Account pursuant to the
terms of this Indenture. The Issuer shall cause all Trust Monies to be deposited in the Collateral
Account and any such Trust Monies shall be held by and under the dominion and control of the
Collateral Agent for its benefit and for the benefit of the Secured Parties (as defined in the
Security Agreement) as a part of the Collateral until released in accordance with this Article 12.

Section 12.02 Withdrawal of Net Cash Proceeds in Connection with
Reinvestments.

          To the extent that any Trust Monies consist of Net Cash Proceeds of an Asset Sale, such Trust
Monies may be withdrawn by the Issuer and shall be paid by the Collateral Agent (upon the direction
of the Trustee) upon a written request by the Issuer delivered to the Trustee and the Collateral
Agent to reimburse the Issuer or Guarantor for expenditures made, or to pay costs to be incurred,
by the Issuer or such Guarantor in connection with a reinvestment of such Net Cash Proceeds or
repayment of Indebtedness with such Net Cash Proceeds, in each case complying with Section 4.09,
upon receipt by the Trustee and the Collateral Agent of the following:

     (a) An Officer’s Certificate, dated not more then 30 days prior to the date of the
application for the withdrawal and payment of such Trust Monies to the effect that:

     (A) such Net Cash Proceeds that have been (or will be within thirty (30)
Business Days of the requested date of release) applied in compliance with the
requirements of Section 4.09 (which Officer’s Certificate shall contain a brief
description of the amount and the manner of application of such Net Cash Proceeds);
and

     (B) to the extent required by Section 4.09 the Issuer has taken (or will take
not later than thirty (30) Business Days following the application of such Net Cash
Proceeds) all steps, if any, required by the Security Documents in order to grant
and/or perfect the security interest of the Collateral Agent in any assets in which
such Net Cash Proceeds have been reinvested (which Officer’s Certificate shall
attach copies of (or forms of) any additional Security Documents or amendments
thereto or filings thereunder, if any, required to comply with the Security
Documents and Section 4.09); and

     (b) An Opinion of Counsel to the effect that:

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     (A) the instruments that have been or are therewith delivered to the Collateral
Agent comply as to form to the requirements of this Indenture, and that, upon the
basis thereof and the accompanying documents specified in this Section 12.02 and
assuming the correctness and accuracy of such documents, all conditions precedent
herein provided for such withdrawal and payment have been satisfied, and such
withdrawal and payment is permitted under this Section 12.02; and

     (B) the relevant Security Documents create (or upon the execution, filing
and/or delivery, as applicable of any documents contemplated by clause (a), will
create) a valid, binding and enforceable Lien on and security interest in such
assets in favor of the Collateral Agent for the benefit of the Holders to the extent
required by Section 4.09.

Upon compliance with the foregoing provisions of this Section 12.02, the Collateral Agent shall,
upon receipt of a written request by the Issuer (which may be contained in the Officer’s
Certificate), pay an amount of Net Cash Proceeds constituting Trust Monies equal to the amount of
the expenditures or costs related to such assets as stated in the Officer’s Certificate required by
clause (a) of this Section 12.02 as directed by the Issuer.

Section 12.03 Withdrawal of Net Cash Proceeds to Fund an Offer or Release Following an Offer.

          To the extent that any Trust Monies consist of Net Cash Proceeds received by the Collateral
Agent pursuant to the provisions of Section 4.09 and an Offer, as applicable, has been made in
accordance therewith, such Trust Monies may be withdrawn by the Issuer and shall be paid by the
Trustee to the Paying Agent for application in accordance with Section 4.09 upon written notice by
the Issuer to the Trustee and upon receipt by the Trustee and the Collateral Agent of the
following:

     An Officer’s Certificate, dated not more than three (3) days prior to the Purchase
Date, setting forth the amount of Excess Proceeds, as applicable, subject to the Offer and
the date on which Notes and Permitted Additional Pari Passu Obligations are to be purchased,
and to the effect that:

     (A) (x) such Trust Monies constitute Net Cash Proceeds and (y) pursuant to and
in accordance with Section 4.09, the Issuer has made an Offer; and

     (B) all conditions precedent and covenants herein provided for such application
of Trust Monies have been satisfied.

          Upon compliance with the foregoing provisions of this Section 12.03, the Collateral Agent
shall apply the Trust Monies as directed and specified by the Issuer, subject to Section 4.09
(including to return to the Issuer any such amount of Excess Proceeds that are subject to the Offer
and which are not required to be applied to the purchase of Notes, Permitted Additional Pari Passu
Obligations or other Indebtedness pursuant to Section 4.09).

Section 12.04 Investment of Trust Monies.

          So long as no Default or Event of Default shall have occurred and be continuing, all or any
part of any Trust Monies held by (or held in an account subject to the sole control of) the
Collateral Agent shall from time to time be invested or reinvested by the Collateral Agent in any
Cash Equivalents pursuant to a written request by the Issuer in the form of an Officer’s
Certificate, which shall specify the Cash Equivalents in which such Trust Monies shall be invested
and shall certify that such investments

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constitute Cash Equivalents; and the Collateral Agent shall sell any such Cash Equivalent only
upon receipt of such a written request by the Issuer specifying the particular Cash Equivalent to
be sold. So long as no Default or Event of Default occurs and is continuing, any interest or
dividends accrued, earned or paid on such Cash Equivalents (in excess of any accrued interest or
dividends paid at the time of purchase) that may be received by the Collateral Agent shall be
forthwith paid to the Issuer. Such Cash Equivalents shall be held by the Collateral Agent as a
part of the Collateral, subject to the same provisions hereof as the cash used by it to purchase
such Cash Equivalents.

          The Trustee and Collateral Agent shall not be liable or responsible for any loss resulting
from such investments or sales except only for its own grossly negligent action, its own grossly
negligent failure to act or its own willful misconduct in complying with this Section 12.04.

Section 12.05 Application of other Trust Monies.

          The Collateral Agent shall return all Trust Monies to the Issuer upon any Legal Defeasance,
Covenant Defeasance or satisfaction and discharge of this Indenture under Section 14.01. The
Collateral Agent shall have all rights and remedies with respect to the Collateral Account and any
Trust Monies as provided in the Security Documents.

ARTICLE 13

GUARANTEES

Section 13.01 Guarantee.

          Subject to this Article 13, each of the Guarantors hereby, jointly and severally, fully and
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and
to the Trustee and its successors and assigns, irrespective of the validity and enforceability of
this Indenture, the Notes or the obligations of the Issuer hereunder or thereunder, that: (a) the
principal of, interest, premium and Additional Interest, if any, on the Notes shall be promptly
paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest
on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations
of the Issuer to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full
or performed, all in accordance with the terms hereof and thereof; and (b) in case of any extension
of time of payment or renewal of any Notes or any of such other obligations, that same shall be
promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any
amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall be
jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a
guarantee of payment and not a guarantee of collection.

          The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest,
notice and all demands whatsoever and covenants that this Guarantee shall not be discharged except
by complete performance of the obligations contained in the Notes and this Indenture.

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          Each Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees) incurred by the Trustee or any Holder in enforcing any rights under this Section
13.01.

          If any Holder or the Trustee is required by any court or otherwise to return to the Issuer,
the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation
to either the Issuer or the Guarantors, any amount paid either to the Trustee or such Holder, this
Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

          Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to
the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on
the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of this
Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration
in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of
acceleration of such obligations as provided in Article 6, such obligations (whether or not due and
payable) shall forthwith become due and payable by the Guarantors for the purpose of this
Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor
so long as the exercise of such right does not impair the rights of the Holders under the
Guarantees.

          Each Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Issuer for liquidation or reorganization, should the Issuer
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest
extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any
time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in
amount, or must otherwise be restored or returned by any obligee on the Notes or Guarantees,
whether as a “voidable preference,” “fraudulent transfer” 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 Notes shall, to the fullest extent permitted by law, be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned.

          In case any provision of any Guarantee 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.

          Each payment to be made by a Guarantor in respect of its Guarantee shall be made without
set-off, counterclaim, reduction or diminution of any kind or nature.

          As used in this Section 13.01, the term “Trustee” shall also include each of the Paying Agent,
Registrar and Transfer Agent, as applicable.

Section 13.02 Limitation on Guarantor Liability.

          Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any
Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors
hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum
amount as will, after giving effect to such maximum amount and all other contingent and fixed
liabilities of such Guarantor that are relevant

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under such laws and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under this Article 13, result in the obligations of such
Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under
applicable law. Each Guarantor that makes a payment under its Guarantee shall be entitled upon
payment in full of all guaranteed obligations under this Indenture to a contribution from each
other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based
on the respective net assets of all the Guarantors at the time of such payment determined in
accordance with GAAP.

Section 13.03 Execution and Delivery.

          To evidence its Guarantee set forth in Section 13.01, each Guarantor hereby agrees that this
Indenture shall be executed on behalf of such Guarantor by its President, one of its Vice
Presidents or one of its Assistant Vice Presidents. Each Guarantor hereby agrees to execute a
Notation of Guarantee substantially in the form included in Exhibit A hereto on each Note
authenticated and delivered by the Trustee.

          Each Guarantor hereby agrees that its Guarantee set forth in Section 13.01 shall remain in
full force and effect notwithstanding the absence of the endorsement of any notation of such
Guarantee on the Notes.

          If an Officer whose signature is on this Indenture no longer holds that office at the time the
Trustee authenticates the Note, the Guarantee shall be valid nevertheless.

          The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors.

Section 13.04 Subrogation.

          Each Guarantor shall be subrogated to all rights of Holders of Notes against the Issuer in
respect of any amounts paid by any Guarantor pursuant to the provisions of Section 13.01;
provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be
entitled to enforce or receive any payments arising out of, or based upon, such right of
subrogation until all amounts then due and payable by the Issuer under this Indenture or the Notes
shall have been paid in full.

Section 13.05 Benefits Acknowledged.

          Each Guarantor acknowledges that it will receive direct and indirect benefits from the
financing arrangements contemplated by this Indenture and that the guarantee and waivers made by it
pursuant to its Guarantee are knowingly made in contemplation of such benefits.

Section 13.06 Release of Guarantees.

          Nothwithstanding any other provision of this Indenture, any Guarantee by a Restricted
Subsidiary (and all Liens securing the same) shall be automatically and unconditionally released
and discharged upon:

     (1) such Subsidiary ceasing to constitute a Restricted Subsidiary in a transaction that
complies with this Indenture (whether upon a sale, exchange, transfer or disposition of
Capital Stock in such Restricted Subsidiary (including by way of merger or consolidation),
or the designation of such Restricted Subsidiary as an Unrestricted Subsidiary), or

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     (2) the merger or dissolution of a Guarantor into the Issuer or another Guarantor or
the transfer or sale of all or substantially all of the assets of a Guarantor to the Issuer
or another Guarantor.

ARTICLE 14

SATISFACTION AND DISCHARGE

Section 14.01 Satisfaction and Discharge.

          This Indenture shall be discharged and shall cease to be of further effect as to all Notes,
when:

     (1) either (A) all such Notes theretofore authenticated and delivered (except lost,
stolen or destroyed Notes which have been replaced or paid or Notes whose payment has been
deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to
the Issuer or discharged from such trust as provided for in the Indenture) have been
delivered to the Trustee for cancellation or (B) all Notes not theretofore delivered to the
Trustee for cancellation (a) have become due and payable, (b) will become due and payable at
their Maturity within one year, or (c) are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Issuer; or

     (2) the Issuer or any Guarantor has irrevocably deposited or caused to be deposited
with the Trustee as trust funds in trust an amount in United States dollars sufficient to
pay and discharge the entire indebtedness on the Notes not theretofore delivered to the
Trustee for cancellation, including principal of, premium, if any, and accrued interest at
such Maturity, Stated Maturity or Redemption Date;

     (3) after giving effect thereto, no Default or Event of Default shall have occurred and
be continuing under any Indebtedness of the Issuer or any Restricted Subsidiary on the date
of such deposit;

     (4) such satisfaction and discharge will not result in a breach or violation of, or
constitute a default under any other material agreement or instrument to which the Issuer or
any Restricted Subsidiary is a party or by which the Issuer or any Restricted Subsidiary is
bound;

     (5) the Issuer or any Guarantor has paid or caused to be paid all other sums payable
under this Indenture by the Issuer; and

     (6) the Issuer has delivered to the Trustee an Officer’s Certificate and an opinion of
independent counsel each stating that all conditions precedent under this Section 14.01
relating to the satisfaction and discharge of such Indenture have been complied with.

          Notwithstanding the satisfaction and discharge of this Indenture, if money shall have been
deposited with the Trustee pursuant to clause (2) of this Section 14.01, the provisions of Section
14.02 and Section 8.06 shall survive.

Section 14.02 Application of Trust Money.

          Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to
Section 14.01 shall be held in trust and applied by it, in accordance with the provisions of the
Notes

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and this Indenture, to the payment, either directly or through any Paying Agent (including the
Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium and Additional Interest, if any) and interest for whose
payment such money has been deposited with the Trustee; but such money need not be segregated from
other funds except to the extent required by law.

          If the Trustee or Paying Agent is unable to apply any money in accordance with Section 14.01
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 and any Guarantor’s obligations under this Indenture and the Notes shall be revived and
reinstated as though no deposit had occurred pursuant to Section 14.01; provided that if
the Issuer has made any payment of principal of, premium and Additional Interest, if any, or
interest on any Notes because of the reinstatement of its obligations, the Issuer shall be
subrogated to the rights of the Holders of such Notes to receive such payment from the money held
by the Trustee or Paying Agent.

ARTICLE 15

MISCELLANEOUS

Section 15.01 Trust Indenture Act Controls.

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

Section 15.02 Notices.

          Any notice or communication by the Issuer, any Guarantor, the Collateral Agent or the Trustee
to the others is duly given if in writing and delivered in person or mailed by first-class mail
(registered or certified, return receipt requested), fax or overnight air courier guaranteeing next
day delivery, to the others’ address:

If to the Issuer and/or any Guarantor:

c/o Oxford Industries, Inc.

222 Piedmont Avenue, N.E.

Atlanta, Georgia 30308

Facsimile: (404) 653-1224

Attention: General Counsel

If to the Trustee:

U.S. Bank National Association

1349 W. Peachtree Street, NW

Two Midtown Plaza, Suite 1050

Atlanta, GA 30309

Fax No.: (404) 898-8844

Attention: Muriel Shaw

          The Issuer, any Guarantor or the Trustee, by notice to the others, may designate additional or
different addresses for subsequent notices or communications.

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          All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five calendar days after being
deposited in the mail, postage prepaid, if mailed by first-class mail; when receipt acknowledged,
if faxed; and the next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery; provided that any notice or communication delivered
to the Trustee shall be deemed effective upon actual receipt thereof.

          Any notice or communication to a Holder shall be mailed by first-class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication shall also be
so mailed to any Person described in Trust Indenture Act Section 313(c), to the extent required by
the Trust Indenture Act. 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 the Issuer mails a notice or communication to Holders, it shall mail a copy to the Trustee
and each Agent at the same time.

Section 15.03 Communication by Holders of Notes with Other Holders of Notes.

          Holders may communicate pursuant to Trust Indenture Act Section 312(b) with other Holders with
respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Registrar
and anyone else shall have the protection of Trust Indenture Act Section 312(c).

Section 15.04 Certificate and Opinion as to Conditions Precedent.

          Upon any request or application by the Issuer or any of the Guarantors to the Trustee to take
any action under this Indenture, the Issuer or such Guarantor, as the case may be, shall furnish to
the Trustee:

     (a) an Officer’s Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 15.05) stating that, in the
opinion of the signers, all conditions precedent and covenants, if any, provided for in this
Indenture relating to the proposed action have been satisfied; and

     (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 15.05) stating that, in the opinion
of such counsel, all such conditions precedent and covenants have been satisfied.

Section 15.05 Statements Required in Certificate or Opinion.

          Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to Trust Indenture Act Section
314(a)(4)) shall comply with the provisions of Trust Indenture Act Section 314(e) and shall
include:

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

     (b) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

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     (c) a statement that, in the opinion of such Person, he or she 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, in the case of an
Opinion of Counsel, may be limited to reliance on an Officer’s Certificate as to matters of
fact); and

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

Section 15.06 Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 15.07 No Personal Liability of Directors, Officers, Employees and Stockholders.

          No director, officer, employee, incorporator or stockholder of the Issuer or any Guarantor or
any of their parent companies (other than the Issuer and the Guarantors) shall have any liability
for any obligations of the Issuer or the Guarantors under the Notes, the Guarantees or this
Indenture or for any claim based on, in respect of, or by reason of such obligations or their
creation. Each Holder by accepting the Notes waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes.

Section 15.08 Governing Law.

          THIS INDENTURE, THE NOTES AND ANY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

Section 15.09 Force Majeure.

          In no event shall the Trustee, Paying Agent, Registrar or Transfer Agent be responsible or
liable for any failure or delay in the performance of its obligations under this Indenture arising
out of or caused by, directly or indirectly, forces beyond its reasonable control, including
without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or
malfunctions of utilities, communications or computer (software or hardware) services.

Section 15.10 Successors.

          All agreements of the Issuer in this Indenture and the Notes shall bind its successors. All
agreements of the Trustee and the Paying Agent, Registrar and Transfer Agent in this Indenture
shall bind their respective successors. All agreements of each Guarantor in this Indenture shall
bind its successors, except as otherwise provided in Section 13.06. The provisions of Article 11
referring to the Collateral Agent shall inure to the benefit of such Collateral Agent.

Section 15.11 Severability.

          In case any provision in this Indenture or in the Notes 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.

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Section 15.12 Counterpart 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. Delivery of an executed
counterpart of a signature page to this Indenture by facsimile, email or other electronic means
shall be effective as delivery of a manually executed counterpart of this Indenture.

Section 15.13 Table of Contents, Headings, etc.

          The Table of Contents, Cross-Reference Table and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

Section 15.14 Qualification of Indenture.

          The Issuer and the Guarantors shall qualify this Indenture under the Trust Indenture Act in
accordance with and to the extent required by the terms and conditions of the Registration Rights
Agreement and shall pay all reasonable costs and expenses (including attorneys’ fees and expenses
for the Issuer, the Guarantors and the Trustee) incurred in connection therewith, including, but
not limited to, costs and expenses of qualification of this Indenture and the Notes and printing
this Indenture and the Notes. The Trustee shall be entitled to receive from the Issuer and the
Guarantors any such Officer’s Certificates, Opinions of Counsel or other documentation as it may
reasonably request in connection with any such qualification of this Indenture under the Trust
Indenture Act.

Section 15.15 USA Patriot Act

          The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act the
Trustee and Agents, like all financial institutions and in order to help fight the funding of
terrorism and money laundering, are required to obtain, verify, and record information that
identifies each person or legal entity that establishes a relationship or opens an account. The
parties to this agreement agree that they will provide the Trustee and the Agents with such
information as they may request in order to satisfy the requirements of the USA Patriot Act.

[Signatures on following pages]

-100-

 

	 	 	 	 	 
	 	OXFORD INDUSTRIES, INC.

 	 
	 	By:  	/s/ Thomas C. Chubb III
 	 
	 	 	Name:  	Thomas C. Chubb III 	 
	 	 	Title:  	President 	 
	 

Signature Page to Indenture

 

 

	 	 	 	 	 	 	 
	 	 	Each of the GUARANTORS	 	 
	 	 	listed on Schedule I hereto except Tommy Bahama Texas
Beverages, LLC
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas C. Chubb III	 	 
	 

	 	 	 	 

Name: Thomas C. Chubb III
	 	 
	 

	 	 	 	Title: Vice President	 	 

	 	 	 	 	 	 	 
	 	 	Tommy Bahama Texas Beverages, LLC,	 	 
	 	 	By: Tommy Bahama Beverages, LLC,

        its sole member	 	 
	 
	 	 	 	 	 	 
	 

	 	     By:
	 	/s/ Thomas C. Chubb III	 	 
	 

	 	 	 	 

Name: Thomas C. Chubb III
	 	 
	 

	 	 	 	Title: Vice President	 	 

Signature Page to Indenture

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	/s/ Muriel Shaw
 	 
	 	 	Name:  	Muriel Shaw 	 
	 	 	Title:  	Assistant Vice President 	 

 

 

	 	 	 	 	 

SCHEDULE I

Guarantors

BEN SHERMAN CLOTHING, INC.

LIONSHEAD CLOTHING COMPANY

OXFORD CARIBBEAN, INC.

OXFORD GARMENT, INC.

OXFORD INTERNATIONAL, INC.

OXFORD LOCKBOX, INC.

OXFORD OF SOUTH CAROLINA, INC.

PIEDMONT APPAREL CORPORATION

SFI OF OXFORD ACQUISITION CORPORATION

TOMMY BAHAMA GROUP, INC.

TOMMY BAHAMA BEVERAGES, LLC

TOMMY BAHAMA R&R HOLDINGS, INC.

TOMMY BAHAMA TEXAS BEVERAGES, LLC

VIEWPOINT MARKETING, INC.

 

 

EXHIBIT A

[Face of Note]

          [Insert the Global Note Legend, if applicable, pursuant to the provisions of the Indenture]

          [Insert the Private Placement Legend, if applicable, pursuant to the provisions of the
Indenture]

          [Insert the IAI Note Legend, if applicable, pursuant to the provisions of the Indenture]

          [Insert the ERISA Legend, if applicable pursuant to the provisions of the Indenture]

          [Insert the OID Legend, if applicable, pursuant to the provisions of the Indenture]

A-1

 

CUSIP [                ] 

 ISIN [                ]1

[RULE 144A][REGULATION S] GLOBAL NOTE

11.375% Senior Secured Notes due 2015

			
	No. ___
	 	[$                    ]

OXFORD INDUSTRIES, INC.

promises to pay to CEDE & CO. or registered assigns, the principal sum [set forth on the Schedule
of Exchanges of Interests in the Global Note attached hereto] [of                                          United
States Dollars] on January 15, 2015.

Interest Payment Dates: January 15 and July 15

Record Dates: January 1 and July 1

 

			
	1	 	Rule 144A Note CUSIP: 691497AD3

Rule 144A Note ISIN: US691497AD35

Regulation S Note CUSIP: U6919TAB6

Regulation S Note ISIN: USU6919TAB62

Exchange Note CUSIP: 691497AE1

Exchange Note ISIN: US691497AE18

A-2

 

          IN WITNESS HEREOF, the Issuer has caused this instrument to be duly executed.

Dated: [                         ]

	 	 	 	 	 
	 	OXFORD INDUSTRIES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-3

 

This is one of the Notes referred to in the within-mentioned Indenture:

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

A-4

 

[Back of Note]

11.375% Senior Secured Notes due 2015

          Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

          1. INTEREST. Oxford Industries, Inc., a Georgia corporation, promises to pay interest on the
principal amount of this Note at 11.375% per annum from June 30, 2009 until maturity and shall pay
the Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred to
below. The Issuer will pay interest and Additional Interest, if any, semi-annually in arrears on
January 15 and July 15 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will
accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from the date of issuance; provided that the first Interest Payment Date shall be January
15, 2010. The Issuer will pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the
interest rate on the Notes; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest,
if any, (without regard to any applicable grace periods) from time to time on demand at the
interest rate on the Notes. Interest will be computed on the basis of a 360-day year comprised of
twelve 30-day months.

          2. METHOD OF PAYMENT. The Issuer will pay interest on the Notes and Additional Interest, if
any, to the Persons who are registered Holders of Notes at the close of business on the January 1
or  July 1 (whether or not a Business Day), as the case may be, immediately preceding the Interest
Payment Date, even if such Notes are canceled after such record date and on or before such Interest
Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted
interest. Payment of interest and Additional Interest, if any, may be made by check mailed to the
Holders at their addresses set forth in the register of Holders, provided that payment by
wire transfer of immediately available funds will be required with respect to principal of and
interest, premium and Additional Interest, if any, on, all Global Notes and all other Notes the
Holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent.
Such payment shall be in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts.

          3. PAYING AGENT AND REGISTRAR. Initially, U.S. Bank National Association, will act as Paying
Agent and Registrar. The Issuer may change any Paying Agent or Registrar without notice to the
Holders. The Issuer or any of its Subsidiaries may act in any such capacity.

          4. INDENTURE. The Issuer issued the Notes under an Indenture, dated as of June 30, 2009 (the
“Indenture”), among Oxford Industries Inc., the Guarantors named therein and the Trustee.
This Note is one of a duly authorized issue of notes of the Issuer designated as its 11.375% Senior
Secured Notes due 2015. The Issuer shall be entitled to issue Additional Notes pursuant to
Section 2.01 of the Indenture. The terms of the Notes include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the
“Trust Indenture Act”). The Notes are subject to all such terms, and Holders are referred
to the Indenture and such Act for a statement of such terms. To the extent any provision of this
Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall
govern and be controlling.

A-5

 

          5. OPTIONAL REDEMPTION.

          (a) At any time prior to July 15, 2012, the Issuer may redeem all or a portion of the Notes,
on not less than 30 nor more than 60 days’ prior notice, in amounts of $1,000 or an integral
multiple thereof, at a price equal to the greater of: (x) 100% of the aggregate principal amount of
the Notes to be redeemed, together with accrued and unpaid interest, if any, to the date of
redemption, and (y) as determined by an Independent Investment Banker, the sum of the present
values of 105.688% of the principal of the Notes being redeemed plus scheduled payments of interest
(not including any portion of such payments of interest accrued as of the Redemption Date) from the
date of redemption to July 15, 2012 discounted to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 50
basis points, together with accrued and unpaid interest, if any, to the Redemption Date.

          (b) On or after July 15, 2012, the Issuer may redeem all or a portion of the Notes, on not
less than 30 nor more than 60 days’ prior notice, in amounts of $1,000 or an integral multiple
thereof at the following redemption prices (expressed as percentages of the principal amount),
together with accrued and unpaid interest, if any, to the Redemption Date, if redeemed during the
12-month period beginning July 15 of the years indicated below:

	 	 	 	 	 
	 	 	Redemption
	Year	 	Price
	2012
	 	 	105.688	%
	2013
	 	 	102.844	%
	2014 and thereafter
	 	 	100.000	%

          (c) In addition, at any time prior to July 15, 2012, the Issuer, at its option, may use the
net proceeds of one or more Equity Offerings to redeem up to an aggregate of 35% of the aggregate
principal amount of Notes originally issued under this Indenture at a redemption price equal to
111.375% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest,
if any, to the redemption date; provided that at least 65% of the initial aggregate
principal amount of Notes must remain outstanding immediately after the occurrence of such
redemption and the Issuer must complete such redemption within 90 days of the closing of the Equity
Offering.

          (d) If less than all of the Notes are to be redeemed, the Trustee shall select the Notes to be
redeemed in compliance with the requirements of the principal national security exchange, if any,
on which the Notes are listed, or if the Notes are not listed, on a pro rata basis, by lot or by
any other method the Trustee shall deem fair and reasonable. Notes redeemed in part must be
redeemed only in integral multiples of $1,000 and no Note with a principal amount of less than
$2,000 will be redeemed in part.

          (e) In addition to the Issuer’s rights to redeem the Notes as set forth above, the Issuer may
purchase Notes in open-market transactions, tender offers or otherwise

          6. MANDATORY REDEMPTION. The Issuer shall not be required to make mandatory redemption or
sinking fund payments with respect to the Notes.

          7. NOTICE OF REDEMPTION. Subject to Section 3.03 of the Indenture, notice of redemption will
be mailed by first-class mail at least 30 days but not more than 60 days before the

A-6

 

redemption date
(except that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with Article 8 or Article 11 of the Indenture) to each Holder
whose Notes are to be redeemed at its registered address. Notes in denominations larger than
$2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all
of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases
to accrue on Notes or portions thereof called for redemption.

          8. OFFERS TO REPURCHASE.

          (a) If a Change of Control occurs, each Holder of Notes will have the right to require this
Issuer to purchase all or any part (in integral multiples of $1,000 except that no partial
redemption will be permitted that would result in a Note having a remaining principal amount of
less than $2,000) of such Holder’s Notes pursuant to a Change of Control offer. In the Change of
Control offer, the Issuer will offer to purchase all of the Notes, at a purchase price in cash in
an amount equal to 101% of the principal amount of such Notes, plus accrued and unpaid interest, if
any, to the date of purchase (subject to the rights of Holders of record on relevant record dates
to receive interest due on an interest payment date). The Change of Control offer shall be made in
accordance with Section 4.11 of the Indenture.

          (b) Under certain circumstances described in the Indenture, the Issuer will be required to
apply the proceeds of Asset Sales to the repayment of the Securities and Permitted Additional Pari
Passu Indebtedness. The offer shall be made in accordance with Section 4.09 of the Indenture

          9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Issuer may require a Holder to pay any taxes and fees required by law or
permitted by the Indenture. The Issuer need not exchange or register the transfer of any Notes or
portion of Notes selected for redemption, except for the unredeemed portion of any Notes being
redeemed in part. Also, the Issuer need not exchange or register the transfer of any Notes for a
period of 15 days before a selection of Notes to be redeemed.

          10. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for
all purposes.

          11. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Guarantees or the Notes may be
amended or supplemented as provided in the Indenture.

          12. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are defined in Section
6.01 of the Indenture. If any Event of Default shall occur and be continuing with respect to the
Indenture, the Trustee or the holders of not less than 25% in aggregate principal amount of the
Notes then outstanding may, and the Trustee at the request of such holders shall, declare all
unpaid principal of, premium, if any, and accrued interest on all Notes to be due and payable
immediately, by a notice in writing to the Issuer (and to the Trustee if given by the holders of
the Notes) and upon any such declaration, such principal, premium, if any, and interest shall
become due and payable immediately. Notwithstanding the foregoing, in the case of an Event of
Default arising from certain events of bankruptcy or insolvency, then all the Notes shall
automatically become and be due and payable immediately in an amount equal to the principal amount
of the Notes, together with accrued and unpaid interest, if any, to the date the Notes become due
and payable, without any declaration or other act on the part of the Trustee or any holder. Holders
may not enforce the Indenture, the Notes or the Guarantees except as provided in the Indenture.
Subject to certain limitations, Holders of a majority in aggregate principal amount of the

A-7

 

then
outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may
withhold from Holders of the Notes notice of any continuing Default (except a Default relating to
the
payment of principal, premium, if any, Additional Interest, if any, or interest) if it
determines that withholding notice is in their interest. The Holders of a majority in aggregate
principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the
Holders of all of the Notes waive any existing Default or and its consequences under the Indenture
except a continuing Default in payment of the principal of, premium, if any, Additional Interest,
if any, or interest on, any of the Notes held by a non-consenting Holder. The Issuer and each
Guarantor (to the extent that such Guarantor is so required under the Trust Indenture Act) is
required to deliver to the Trustee annually a statement regarding compliance with the Indenture,
and the Issuer is required within five (5) Business Days after becoming aware of any Default, to
deliver to the Trustee a statement specifying such Default and what action the Issuer proposes to
take with respect thereto.

          13. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose until authenticated by the manual signature of the Trustee.

          14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES.
In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted
Global Notes and Restricted Definitive Notes shall have all the rights set forth in the
Registration Rights Agreement, including the right to receive Additional Interest (as defined in
the Registration Rights Agreement).

          15. GOVERNING LAW. THIS INDENTURE, THE NOTES AND ANY GUARANTEE WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          16. CUSIP/ISIN NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Issuer has caused CUSIP/ISIN numbers to be printed on the
Notes and the Trustee may use CUSIP/ISIN numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as printed on the
Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

          The Issuer will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to the Issuer at the
following address:

Oxford Industries Inc.

222 Piedmont Avenue, N.E.

Atlanta, Georgia 30308

Facsimile: (404) 653-1224

Attention: General Counsel

A-8

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to:

 

                                                                                                                                    (Insert assignee’ legal name)

           

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

 

 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint

 

to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

Date:                                         

	 	 	 	 	 
	 

	 	Your Signature:	 	 
	 

	 	 	 	 
	 

	 	 	 	(Sign exactly as your name appears on
the face of this Note)

Signature Guarantee*:                                                             

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

A-9

 

OPTION OF HOLDER TO ELECT PURCHASE

          If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.09 or
4.11 of the Indenture, check the appropriate box below:

o Section 4.09 o Section 4.11

          If you want to elect to have only part of this Note purchased by the Issuer pursuant to
Section 4.09 or Section 4.11 of the Indenture, state the amount you elect to have purchased:

$                    

Date:                     

	 	 	 	 	 	 	 
	 

	 	Your Signature:	 	 	 	 
	 	 	 	   
	 	 	 	(Sign exactly as your
name appears on the face of this Note)
	 	 	Tax Identification No.:   	 	 
	 	 	 	 	 

Signature Guarantee*:                                                             

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

A-10

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

          The initial outstanding principal amount of this Global Note is $___. The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive
Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global
Note, have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of	 	 	Amount of increase	 	 	Principal Amount of	 	 	Signature of	 
	 	 	decrease in	 	 	in Principal	 	 	this Global Note	 	 	authorized officer	 
	Date of	 	Principal Amount	 	 	Amount of this	 	 	following such	 	 	of Trustee or	 
	Exchange	 	of this Global Note	 	 	Global Note	 	 	decrease or increase	 	 	Notes Registrar	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	*	 	This schedule should be included only if the Note is issued in global form.

A-11

 

Notation of Guarantee

          Pursuant to the Indenture, dated as of June 30, 2009 (the “Indenture”), among Oxford
Industries, Inc., the Guarantors named therein, and the Trustee, each Guarantor, subject to the
provisions of Article 13 of the Indenture, hereby, jointly and severally, fully and unconditionally
guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee
and its successors and assigns, irrespective of the validity and enforceability of the Indenture,
the Notes or the obligations of the Issuer thereunder, that: (a) the principal of, interest,
premium and Additional Interest, if any, on the Notes shall be promptly paid in full when due,
whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue
principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer
to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed,
all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of
payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid
in full when due or performed in accordance with the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise. Failing payment when due of any amount so
guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall be jointly
and severally obligated to pay the same immediately. Each Guarantor agrees that this is a
guarantee of payment and not a guarantee of collection.

          The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with
respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest,
notice and all demands whatsoever and covenants that this Guarantee shall not be discharged except
by complete performance of the obligations contained in the Notes and this Indenture.

          Each Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees) incurred by the Trustee or any Holder in enforcing any rights under Section 13.01
of the Indenture.

          If any Holder or the Trustee is required by any court or otherwise to return to the Issuer,
the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation
to either the Issuer or the Guarantors, any amount paid either to the Trustee or such Holder, this
Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

          Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to
the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on
the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6 of the Indenture for the
purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any
declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such
obligations (whether or not due and payable) shall forthwith become due and payable by the
Guarantors for the purpose of this Guarantee. The Guarantors shall have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair
the rights of the Holders under the Guarantees.

A-12

 

          Each Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer
become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee
be appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest
extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any
time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in
amount, or must otherwise be restored or returned by any obligee on the Notes or Guarantees,
whether as a “voidable preference,” “fraudulent transfer” 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 Notes shall, to the fullest extent permitted by law, be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned.

          In case any provision of any Guarantee 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.

          Each payment to be made by a Guarantor in respect of its Guarantee shall be made without
set-off, counterclaim, reduction or diminution of any kind or nature.

	 	 	 	 	 
	 

	 	BEN SHERMAN CLOTHING, INC.
	 	 
	 

	 	LIONSHEAD CLOTHING COMPANY	 	 
	 

	 	OXFORD CARIBBEAN, INC.	 	 
	 

	 	OXFORD GARMENT, INC.	 	 
	 

	 	OXFORD INTERNATIONAL, INC.	 	 
	 

	 	OXFORD LOCKBOX, INC.	 	 
	 

	 	OXFORD OF SOUTH CAROLINA, INC.	 	 
	 

	 	PIEDMONT APPAREL CORPORATION	 	 
	 

	 	SFI OF OXFORD ACQUISITION CORPORATION	 	 
	 

	 	TOMMY BAHAMA BEVERAGES, LLC	 	 
	 

	 	TOMMY BAHAMA GROUP, INC.	 	 
	 

	 	TOMMY BAHAMA R&R HOLDINGS, INC.	 	 
	 

	 	VIEWPOINT MARKETING, INC.,	 	 
	 

	 	as Guarantors	 	 
	 
	 	 	 	 
	 
	 

	 	 	 	 
	 

	 	By:	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	 

	 	TOMMY BAHAMA TEXAS BEVERAGES, LLC, as Guarantor
	 	 
	 

	 	By Tommy Bahama Beverages, LLC, its sole member	 	 
	 
	 	 	 	 
	 

	 	TOMMY BAHAMA BEVERAGES, LLC	 	 
	 
	 	 	 	 
	 
	 

	 	 	 	 
	 

	 	By:	 	 
	 

	 	Title:	 	 

A-13

 

EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

Oxford Industries, Inc.

222 Piedmont Avenue, N.E.

Atlanta, Georgia 30308

Facsimile: (404) 653-1224

Attention: General Counsel

U.S. Bank National Association

1349 W. Peachtree Street, NW

Two Midtown Plaza, Suite 1050

Atlanta, GA 30309

Fax No.: (404) 898-8844

Attention: Muriel Shaw

          Re: 11.375% Senior Secured Notes due 2015

          Reference is hereby made to the Indenture, dated as of June 30, 2009 (the
“Indenture”), among Oxford Industries, Inc., the Guarantors named therein and the Trustee.
Capitalized terms used but not defined herein shall have the meanings given to them in the
Indenture.

                                                                       (the “
Transferor”) owns and proposes to transfer the Note[s] or
interest in such Note[s] specified in Annex A hereto, in the principal amount of $                                         in
such Note[s] or interests (the “Transfer”), to                                          (the “Transferee”),
as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that:

[CHECK ALL THAT APPLY]

          1. o CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE 144A GLOBAL
NOTE OR A DEFINITIVE NOTE PURSUANT TO RULE 144A. The Transfer is being effected pursuant to and in
accordance with Rule 144A under the United States Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor
reasonably believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance
with any applicable blue sky securities laws of any state of the United States.

          2. o CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE REGULATION S
GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO REGULATION S. The Transfer is being effected pursuant
to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the
Transferor hereby further certifies that (i) the Transfer is not being made to a person in the
United States and (x) at the time the buy order was originated, the Transferee was outside the
United States or such Transferor and any Person acting on its behalf reasonably believed and
believes that the Transferee was outside the United States or (y) the transaction was executed in,
on or through the facilities of a designated offshore securities market and neither such Transferor
nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the

B-1

 

United States, (ii) no directed selling efforts have been made in contravention of the requirements
of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act (iii) the transaction is not
part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if
the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer
is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an
Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on Transfer enumerated in the Indenture and the Securities Act.

          3. o CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN A
GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF THE SECURITIES ACT OTHER THAN RULE
144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions
applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws
of any state of the United States, and accordingly the Transferor hereby further certifies that
(check one):

     (a) o such Transfer is being effected pursuant to and in accordance with Rule 144
under the Securities Act;

or

     (b) o such Transfer is being effected to the Issuer or a subsidiary thereof;

or

     (c) o such Transfer is being effected pursuant to an effective registration
statement under the Securities Act and in compliance with the prospectus delivery
requirements of the Securities Act;

or

     (d) o such Transfer is being effected to an Institutional Accredited Investor and
pursuant to an exemption from the registration requirements of the Securities Act other than
Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that
it has not engaged in any general solicitation within the meaning of Regulation D under the
Securities Act and the Transfer complies with the transfer restrictions applicable to
beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the
requirements of the exemption claimed, which certification is supported by (1) a certificate
executed by the Transferee in the form of Exhibit B-1 to the Indenture and (2) if
such Transfer is in respect of a principal amount of Notes at the time of Transfer of less
than $100,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of
which the Transferor has attached to this certification), to the effect that such Transfer
is in compliance with the Securities Act. Upon consummation of the proposed transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and
in the Indenture and the Securities Act.

          4. o CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN UNRESTRICTED
GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE.

B-2

 

          (a) o CHECK IF TRANSFER IS PURSUANT TO RULE 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 to a Person who is not an affiliate (as defined in Rule
144) of the Issuer under the Securities Act and in compliance with the transfer restrictions
contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement
Legend are not required in order to maintain compliance with the Securities Act. Upon consummation
of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes
and in the Indenture.

          (b) o CHECK IF TRANSFER IS PURSUANT TO REGULATION S. (i) The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act to a Person who is
not an affiliate (as defined in Rule 144) of the Issuer and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any state of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on
Restricted Definitive Notes and in the Indenture.

          (c) o CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The Transfer is being effected
pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 to a Person who is not an affiliate (as
defined in Rule 144) of the Issuer and in compliance with the transfer restrictions contained in
the Indenture and any applicable blue sky securities laws of any State of the United States and
(ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are
not required in order to maintain compliance with the Securities Act. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and
in the Indenture.

	 	5.	 	o CHECK IF TRANSFEROR IS AN AFFILIATE OF THE ISSUER.
	 
	 	6.	 	o CHECK IF TRANSFEREE IS AN AFFILIATE OF THE ISSUER.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Issuer.

	 	 	 	 	 
	 	[Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:                                         

B-3

 

ANNEX A TO CERTIFICATE OF TRANSFER

	 	1.	 	The Transferor owns and proposes to transfer the following:

[CHECK ONE OF (a) OR (b)]

	 	(a)	 	o a beneficial interest in the:

	 	(i)	 	o 144A Global Note (CUSIP [ ]), or
	 
	 	(ii)	 	o Regulation S Global Note (CUSIP [ ]), or
	 
	 	(iii)	 	o IAI Global Note (CUSIP [ ]); or

	 	(b)	 	o a Restricted Definitive Note.
	 
	 	2.	 	After the Transfer the Transferee will hold:

[CHECK ONE]

	 	(a)	 	o a beneficial interest in the:

	 	(i)	 	o 144A Global Note (CUSIP [     ]), or
	 
	 	(ii)	 	o Regulation S Global Note (CUSIP [     ]), or
	 
	 	(iii)	 	o Unrestricted Global Note (CUSIP [     ]), or
	 
	 	(iv)	 	o IAI Global Notes (CUSIP [     ]); or

	 	(b)	 	o a Restricted Definitive Note; or
	 
	 	(c)	 	o an Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

B-4

 

EXHIBIT B-1

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

Oxford Industries, Inc.

222 Piedmont Avenue, N.E.

Atlanta, Georgia 30308

Facsimile: (404) 653-1224

Attention: General Counsel

U.S. Bank National Association

1349 W. Peachtree Street, NW

Two Midtown Plaza, Suite 1050

Atlanta, GA 30309

Fax No.: (404) 898-8844

Attention: Muriel Shaw

          Re: 11.375% Senior Secured Notes due 2015

          Reference is hereby made to the Indenture, dated as of June 30, 2009 (the
“Indenture”), among Oxford Industries, Inc., the Guarantors named therein, and the Trustee.
Capitalized terms used but not defined herein shall have the meanings given to them in the
Indenture.

          In connection with our proposed purchase of $           aggregate principal amount of:

(a) o a beneficial interest in a Global Note, or

(b) o a Definitive Note,

          we confirm that:

          1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended
(the “Securities Act”).

          2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Issuer, (B) in accordance with Rule 144A under the
Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional
“accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished
on its behalf by a U.S. broker-dealer) to you and to the Issuer a signed letter substantially in
the form of this letter and, if such transfer is in respect of a principal amount of Notes at the
time of transfer of less than $100,000, an Opinion of Counsel in form reasonably acceptable

B-5

 

to the Issuer to the effect that such transfer is in compliance with the Securities Act,
(D) outside the United States in accordance with Rule 904 of Regulation S under the Securities Act,
(E) pursuant to an effective registration statement under the Securities Act, (F) in accordance
with Rule 144 under the Securities Act or (G) in accordance with another exemption from the
registration requirements of the Securities Act, and we further agree to provide to any Person
purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction
meeting the requirements of clauses (A) through (G) of this paragraph a notice advising such
purchaser that resales thereof are restricted as stated herein.

          3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we
will be required to furnish to you and the Issuer such certifications, legal opinions and other
information as you and the Issuer may reasonably require to confirm that the proposed sale complies
with the foregoing restrictions. We further understand that the Notes purchased by us will bear a
legend to the foregoing effect.

          4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and 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
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

          5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

          You and the Issuer are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 	 	 
	 
	 	 	   	 	 
	 	 	[Insert Name of Accredited Investor]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

Dated:

B-6

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

Oxford Industries, Inc.

222 Piedmont Avenue, N.E.

Atlanta, Georgia 30308

Facsimile: (404) 653-1224

Attention: General Counsel

U.S. Bank National Association

1349 W. Peachtree Street, NW

Two Midtown Plaza, Suite 1050

Atlanta, GA 30309

Fax No.: (404) 898-8844

Attention: Muriel Shaw

          Re: 11.375% Senior Secured Notes due 2015

          Reference is hereby made to the Indenture, dated as of June 30, 2009 (the
“Indenture”), among Oxford Industries, Inc., the Guarantors named therein and the Trustee.
Capitalized terms used but not defined herein shall have the meanings given to them in the
Indenture.

                               (the “Owner”) owns and proposes to exchange the Note[s] or interest in
such Note[s] specified herein, in the principal amount of $                     in such Note[s] or interests
(the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

          1) EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL NOTE
FOR UNRESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN AN UNRESTRICTED GLOBAL NOTE

     a) o CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL
NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the
Exchange of the Owner’s beneficial interest in a Restricted Global Note for a
beneficial interest in an Unrestricted Global Note in an equal principal amount, the
Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s
own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to the Global Notes and pursuant to and in
accordance with the United States Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act, (iv) the beneficial interest in an Unrestricted
Global Note is being acquired in compliance with any applicable blue sky securities
laws of any state of the United States and (v) the Owner is not an affiliate (as
defined in Rule 144) of the Issuer.

     b) o CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL
NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the
Owner’s beneficial interest in a Restricted Global Note for an Unrestricted
Definitive Note, the Owner hereby certifies (i) the Definitive Note is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has

C-1

 

been effected in compliance with the transfer restrictions applicable to the
Restricted Global Notes and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the
Securities Act, (iv) the Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States and (v) the
Owner is not an affiliate (as defined in Rule 144) of the Issuer.

     c) o CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL
INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Owner’s Exchange of
a Restricted Definitive Note for a beneficial interest in an Unrestricted Global
Note, the Owner hereby certifies (i) the beneficial interest is being acquired for
the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to Restricted Definitive Notes
and pursuant to and in accordance with the Securities Act, (iii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act, (iv) the
beneficial interest is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States and (v) the Owner is not an
affiliate (as defined in Rule 144) of the Issuer.

     d) o CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO UNRESTRICTED
DEFINITIVE NOTE. In connection with the Owner’s Exchange of a Restricted Definitive
Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Unrestricted Definitive Note is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in
the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act, (iv) the Unrestricted Definitive Note is being
acquired in compliance with any applicable blue sky securities laws of any state of
the United States and (v) the Owner is not an affiliate (as defined in Rule 144) of
the Issuer.

          2) EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES
FOR RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES

     a) o CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL
NOTE TO RESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a Restricted Definitive Note
with an equal principal amount, the Owner hereby certifies that the Restricted
Definitive Note is being acquired for the Owner’s own account without transfer.
Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Definitive Note and in the Indenture and the Securities Act.

     b) o CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL
INTEREST IN A RESTRICTED GLOBAL NOTE. In connection with the Exchange of the
Owner’s Restricted Definitive Note for a beneficial

C-2

 

interest in the [CHECK ONE] o 144A Global Note o Regulation S Global Note
o IAI Global Note      , with an equal principal amount, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without
transfer and (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Global Notes and pursuant to and in
accordance with the Securities Act, and in compliance with any applicable blue sky
securities laws of any state of the United States. Upon consummation of the
proposed Exchange in accordance with the terms of the Indenture, the beneficial
interest issued will be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the relevant Restricted Global Note and in the
Indenture and the Securities Act.

          3) o CHECK IF OWNER IS AN AFFILIATE OF THE ISSUER.

          4) o CHECK IF OWNER IS EXCHANGING THIS NOTE IN CONNECTION WITH AN EXPECTED TRANSFER TO AN
AFFILIATE OF THE ISSUER.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Issuer and are dated                                         .

	 	 	 	 	 
	 	[Insert Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:                                         

C-3

 

EXHIBIT D

[FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS]

          Supplemental Indenture (this “Supplemental Indenture”), dated as of                                         , among
                                         (the “Guaranteeing Subsidiary”), a subsidiary of Oxford Industries,
Inc., a Georgia Corporation (the “Issuer”) and U.S. Bank National Association, a national
banking association organized and existing under the bank of the United States of America, as
trustee (the “Trustee”).

W I T N E S S E T H

          WHEREAS, each of Oxford Industries, Inc. and the Guarantors (as defined in the Indenture
referred to below) have heretofore executed and delivered to the Trustee an indenture (the
“Indenture”), dated as of June 30, 2009, providing for the issuance of an unlimited
aggregate principal amount of 11.375% Senior Secured Notes due 2015 (the “Notes”);

          WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the
Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the
“Guarantee”); and

          WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is 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 parties mutually covenant and agree
for the equal and ratable benefit of the Holders of the Notes as follows:

          (1) Capitalized Terms. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.

          (2) Agreement to be Bound. The Guaranteeing Subsidiary hereby becomes a party to the
Indenture as a Guarantor and as such will have all of the rights and be subject to all of the
obligations and agreements of a Guarantor under the Indenture.

          (3) Guarantee. The Guaranteeing Subsidiary agrees, on a joint and several basis with
all the existing Guarantors, to fully, unconditionally and irrevocably Guarantee to each Holder of
the Notes and the Trustee the Indenture Obligations pursuant to Article XIII of the Indenture on a
secured basis.

          (4) No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Guaranteeing Subsidiary shall have any liability for any obligations of the
Issuer or the Guarantors (including the Guaranteeing Subsidiary) under the Notes, any Guarantees,
the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason
of, such obligations or their creation. Each Holder by accepting Notes waives and releases all
such liability. The waiver and release are part of the consideration for issuance of the Notes.

 

 

          (5) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          (6) 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.

          (7) Effect of Headings. The Section headings herein are for convenience only and
shall not affect the construction hereof.

          (8) The Trustee. The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of
the recitals contained herein, all of which recitals are made solely by the Guaranteeing
Subsidiary.

          (9) Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is subject to the
terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it
will receive direct and indirect benefits from the financing arrangements contemplated by the
Indenture and this Supplemental Indenture and that the guarantee and waivers made by it pursuant to
this Guarantee are knowingly made in contemplation of such benefits.

          (10) Successors. All agreements of the Guaranteeing Subsidiary in this Supplemental
Indenture shall bind its Successors, except as otherwise provided in the Indenture. All agreements
of the Trustee in this Supplemental Indenture shall bind its successors.

D-2

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