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Exhibit 4.2  

 

 
 

INDENTURE,    
    

dated
as of March 16, 2004, 

among

MRS. FIELDS FAMOUS BRANDS, LLC

and 

MRS. FIELDS FINANCING COMPANY, INC.,

as
Issuers, 

THE BANK OF NEW YORK,

as
Trustee, 

and

THE GUARANTORS NAMED HEREIN,

as
Guarantors 

111/2% Senior Secured Notes due

2011 9% Senior Secured Notes due 2011  

 

  

 

CROSS-REFERENCE TABLE  

	TIA Section
 
	 	Indenture Section

	310(a)(1)	 	7.10
	(a)(2)	 	7.10
	(a)(3)	 	7.10
	(a)(4)	 	N.A.
	(a)(5)	 	7.10
	(b)	 	7.03; 7.08; 7.10
	(c)	 	N.A.
	311(a)	 	7.03; 7.11
	(b)	 	7.03; 7.11
	312(a)	 	2.05
	(b)	 	7.07; 11.03
	(c)	 	11.03
	313(a)	 	7.06
	(b)	 	7.06
	(c)	 	7.06
	(d)	 	7.06
	314(a)	 	4.06; 4.23
	(b)	 	12.02
	(c)(1)	 	4.06; 11.04
	(c)(2)	 	11.04
	(c)(3)	 	4.06
	(d)	 	12.03
	(e)	 	11.05
	(f)	 	N.A.
	315(a)	 	7.01(b)
	(b)	 	7.05
	(c)	 	7.01(a)
	(d)	 	7.01(c)
	(e)	 	6.11
	316(a)(last sentence)	 	2.09
	(a)(1)(A)	 	6.05
	(a)(1)(B)	 	6.04
	(a)(2)	 	N.A.
	(b)	 	6.07
	(c)	 	9.04
	317(a)(1)	 	6.08
	(a)(2)	 	6.09
	(b)	 	2.04
	318(a)	 	11.01
	(b)	 	N.A.
	(c)	 	11.01

N.A.
means Not Applicable 

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

  

 
 

TABLE OF CONTENTS    
    

	 
	 	 
	 	Page

	ARTICLE ONE

DEFINITIONS AND INCORPORATION BY REFERENCE
	

SECTION 1.01.	
 	

Definitions	
 	

1
	SECTION 1.02.	 	Incorporation by Reference of Trust Indenture Act	 	25
	SECTION 1.03.	 	Rules of Construction	 	25
	

ARTICLE TWO

THE NOTES
	

SECTION 2.01.	
 	

Form and Dating	
 	

26
	SECTION 2.02.	 	Execution and Authentication; Aggregate Principal Amount	 	27
	SECTION 2.03.	 	Registrar and Paying Agent	 	28
	SECTION 2.04.	 	Obligations of Paying Agent	 	28
	SECTION 2.05.	 	Holder Lists	 	28
	SECTION 2.06.	 	Transfer and Exchange	 	28
	SECTION 2.07.	 	Replacement Notes	 	29
	SECTION 2.08.	 	Outstanding Notes	 	29
	SECTION 2.09.	 	Treasury Notes; When Notes Are Disregarded	 	30
	SECTION 2.10.	 	Temporary Notes	 	30
	SECTION 2.11.	 	Cancellation	 	30
	SECTION 2.12.	 	CUSIP Numbers	 	30
	SECTION 2.13.	 	Deposit of Moneys	 	30
	SECTION 2.14.	 	Book-Entry Provisions for Global Notes	 	31
	SECTION 2.15.	 	Special Transfer Provisions	 	31
	SECTION 2.16.	 	Transfers of Global Notes and Physical Notes	 	33
	

ARTICLE THREE

REDEMPTION
	

SECTION 3.01.	
 	

Optional Redemption	
 	

33
	SECTION 3.02.	 	Selection of Notes to be Redeemed	 	34
	SECTION 3.03.	 	Notice of Redemption	 	34
	SECTION 3.04.	 	Effect of Notice of Redemption	 	35
	SECTION 3.05.	 	Deposit of Redemption Price	 	35
	SECTION 3.06.	 	Notes Redeemed in Part	 	35
	

ARTICLE FOUR

COVENANTS
	

SECTION 4.01.	
 	

Payment of Notes	
 	

35
	SECTION 4.02.	 	Maintenance of Office or Agency	 	36
	SECTION 4.03.	 	Corporate Existence	 	36
	SECTION 4.04.	 	Payment of Taxes and Other Claims	 	36
	SECTION 4.05.	 	Maintenance of Properties and Insurance	 	36
	SECTION 4.06.	 	Compliance Certificate; Notice of Default	 	37
	SECTION 4.07.	 	Waiver of Stay, Extension or Usury Laws	 	37
	SECTION 4.08.	 	Limitation on Incurrence of Additional Indebtedness	 	37
	SECTION 4.09.	 	Limitation on Sale and Leaseback Transactions	 	38
	SECTION 4.10.	 	Limitation on Restricted Payments	 	38
	SECTION 4.11.	 	Repurchase Upon Change of Control	 	42
	SECTION 4.12.	 	Excess Cash Flow Offer	 	44

 

	SECTION 4.13.	 	Limitation on Asset Sales	 	45
	SECTION 4.14.	 	Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	 	47
	SECTION 4.15.	 	Limitation on Issuances and Sales of Capital Stock of Subsidiaries	 	48
	SECTION 4.16.	 	Limitation on Liens	 	49
	SECTION 4.17.	 	Limitations on Transactions with Affiliates	 	49
	SECTION 4.18.	 	Additional Subsidiary Guarantees	 	50
	SECTION 4.19.	 	Impairment of Security Interest	 	51
	SECTION 4.20.	 	Real Estate Mortgages and Recordings	 	52
	SECTION 4.21.	 	Conduct of Business	 	52
	SECTION 4.22.	 	Activities of MFFC	 	52
	SECTION 4.23.	 	Reports to Holders	 	52
	SECTION 4.24.	 	Payments for Consent	 	53
	

ARTICLE FIVE

SUCCESSOR CORPORATION
	

SECTION 5.01.	
 	

Merger, Consolidation and Sale of Assets	
 	

54
	SECTION 5.02.	 	Successor Entity Substituted	 	55
	

ARTICLE SIX

DEFAULT AND REMEDIES
	

SECTION 6.01.	
 	

Events of Default	
 	

55
	SECTION 6.02.	 	Acceleration	 	56
	SECTION 6.03.	 	Other Remedies	 	57
	SECTION 6.04.	 	Waiver of Past Defaults	 	57
	SECTION 6.05.	 	Control by Majority	 	57
	SECTION 6.06.	 	Limitation on Suits	 	57
	SECTION 6.07.	 	Rights of Holders to Receive Payment	 	58
	SECTION 6.08.	 	Collection Suit by Trustee	 	58
	SECTION 6.09.	 	Trustee May File Proofs of Claim	 	58
	SECTION 6.10.	 	Priorities	 	59
	SECTION 6.11.	 	Undertaking for Costs	 	59
	SECTION 6.12.	 	Restoration of Rights and Remedies	 	59
	

ARTICLE SEVEN

TRUSTEE
	

SECTION 7.01.	
 	

Duties of Trustee	
 	

59
	SECTION 7.02.	 	Rights of Trustee	 	60
	SECTION 7.03.	 	Individual Rights of Trustee	 	61
	SECTION 7.04.	 	Trustee's Disclaimer	 	61
	SECTION 7.05.	 	Notice of Default	 	62
	SECTION 7.06.	 	Reports by Trustee to Holders	 	62
	SECTION 7.07.	 	Compensation and Indemnity	 	63
	SECTION 7.08.	 	Replacement of Trustee	 	63
	SECTION 7.09.	 	Successor Trustee by Merger, Etc	 	64
	SECTION 7.10.	 	Eligibility; Disqualification	 	65
	SECTION 7.11.	 	Preferential Collection of Claims Against Issuers	 	65
	SECTION 7.12.	 	Trustee as Paying Agent	 	65
	SECTION 7.13.	 	Co-Trustees and Separate Trustees	 	65
	SECTION 7.14.	 	Form of Documents Delivered to Trustee	 	66

 

	

ARTICLE EIGHT

SATISFACTION AND DISCHARGE OF INDENTURE
	

SECTION 8.01.	
 	

Legal Defeasance and Covenant Defeasance	
 	

66
	SECTION 8.02.	 	Satisfaction and Discharge	 	69
	SECTION 8.03.	 	Survival of Certain Obligations	 	69
	SECTION 8.04.	 	Acknowledgment of Discharge by Trustee	 	69
	SECTION 8.05.	 	Application of Trust Moneys	 	69
	SECTION 8.06.	 	Repayment to the Issuers; Unclaimed Money	 	70
	SECTION 8.07.	 	Reinstatement	 	70
	

ARTICLE NINE

AMENDMENTS, SUPPLEMENTS AND WAIVERS
	

SECTION 9.01.	
 	

Without Consent of Holders	
 	

70
	SECTION 9.02.	 	With Consent of Holders	 	71
	SECTION 9.03.	 	Compliance with TIA	 	72
	SECTION 9.04.	 	Revocation and Effect of Consents	 	72
	SECTION 9.05.	 	Notation on or Exchange of Notes	 	73
	SECTION 9.06.	 	Trustee to Sign Amendments, Etc	 	73
	SECTION 9.07.	 	Conformity with Trust Indenture Act	 	73
	

ARTICLE TEN

GUARANTEE
	

SECTION 10.01.	
 	

Guarantee	
 	

73
	SECTION 10.02.	 	Release of a Guarantor	 	74
	SECTION 10.03.	 	Limitation of Guarantor's Liability	 	75
	SECTION 10.04.	 	Guarantors May Consolidate, etc., on Certain Terms	 	75
	SECTION 10.05.	 	Contribution	 	76
	SECTION 10.06.	 	Waiver of Subrogation	 	76
	SECTION 10.07.	 	Evidence of Guarantee	 	76
	SECTION 10.08.	 	Waiver of Stay, Extension or Usury Laws	 	76
	

ARTICLE ELEVEN

MISCELLANEOUS
	

SECTION 11.01.	
 	

Trust Indenture Act Controls	
 	

76
	SECTION 11.02.	 	Notices	 	77
	SECTION 11.03.	 	Communications by Holders with Other Holders	 	77
	SECTION 11.04.	 	Certificate and Opinion as to Conditions Precedent	 	77
	SECTION 11.05.	 	Statements Required in Certificate or Opinion	 	78
	SECTION 11.06.	 	Rules by Trustee, Paying Agent, Registrar	 	78
	SECTION 11.07.	 	Legal Holidays	 	78
	SECTION 11.08.	 	Governing Law	 	78
	SECTION 11.09.	 	No Adverse Interpretation of Other Agreements	 	78
	SECTION 11.10.	 	No Recourse Against Others	 	79
	SECTION 11.11.	 	Successors	 	79
	SECTION 11.12.	 	Duplicate Originals	 	79
	SECTION 11.13.	 	Severability	 	79
	SECTION 11.14.	 	Waiver of Jury Trial	 	79

 

	

ARTICLE TWELVE

SECURITY
	

SECTION 12.01.	
 	

Grant of Security Interest	
 	

79
	SECTION 12.02.	 	Recording and Opinions	 	80
	SECTION 12.03.	 	Release of Collateral	 	81
	SECTION 12.04.	 	Disposition of Certain Collateral without Requesting Release	 	82
	SECTION 12.05.	 	Specified Releases of Collateral	 	83
	SECTION 12.06.	 	Release upon Satisfaction or Defeasance of all Outstanding Obligations	 	84
	SECTION 12.07.	 	Form and Sufficiency of Release	 	84
	SECTION 12.08.	 	Purchaser Protected	 	84
	SECTION 12.09.	 	Authorization of Actions to Be Taken by the Trustee Under the Collateral Agreements	 	84
	SECTION 12.10.	 	Authorization of Receipt of Funds by the Trustee Under the Collateral Agreements	 	85

	Exhibit A-1	 	—	 	Form of 111/2% Initial Note	 	A-1
	Exhibit A-2	 	—	 	Form of 9% Initial Note	 	A-2
	Exhibit B-1	 	—	 	Form of 111/2% Exchange Note	 	B-1
	Exhibit B-2	 	—	 	Form of 9% Exchange Note	 	B-2
	Exhibit C	 	—	 	Form of Legend for Global Notes	 	C
	Exhibit D	 	—	 	Form of Certificate to Be Delivered in Connection with Transfers to Non-QIB Accredited Investors	 	D
	Exhibit E	 	—	 	Form of Certificate to Be Delivered in Connection with Transfers Pursuant to Regulation S	 	E
	

NOTE:	
 	

 	
 	

This Table of Contents shall not, for any purpose, be deemed to be part of this Indenture.	
 	

 

   
        INDENTURE, dated as of March 16, 2004, among Mrs. Fields Famous Brands, LLC, a Delaware limited liability company (the
"Company"), Mrs. Fields Financing Company, Inc., a Delaware corporation (the
"Co-Issuer" and, together with the Company, the "Issuers"), the Guarantors (as herein
defined) and The Bank of New York, as Trustee (in such capacity, the "Trustee"). 

WITNESSETH: 

        WHEREAS,
the Issuers and the Guarantors (with respect to the Guarantees) have duly authorized the creation of an issue of (i) 111/2% Senior Secured Notes due 2011
(the "111/2% Initial Notes") and 111/2% Senior Secured Exchange Notes due 2011 to be issued in exchange for the
111/2% Initial Notes (the "111/2% Exchange Notes" and, together with the 111/2% Initial Notes and any
111/2% Additional Notes (as herein defined), the "111/2% Notes") and (ii) 9% Senior Secured Notes due 2011 (the
"9% Initial Notes") and 9% Senior Secured Exchange Notes due 2011 to be issued in exchange for the 9% Initial Notes (the "9%
Exchange Notes" and, together with the 9% Initial Notes and any 9% Additional Notes (as herein defined), the "9% Notes"); and,
to provide therefor, the Issuers and the Guarantors have duly authorized the execution and delivery of this Indenture; and 

        WHEREAS,
all things necessary to make the Notes (as herein defined) and Guarantees, when each are duly issued and executed by the Issuers and the Guarantors, as applicable, and
authenticated and delivered hereunder, the valid obligations of each of the Issuers and the Guarantors, respectively, and to make this Indenture a valid and binding agreement of each of the Issuers
and the Guarantors, have been done. 

        NOW,
THEREFORE, each party hereto agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders: 

ARTICLE ONE

DEFINITIONS AND INCORPORATION BY REFERENCE  

        SECTION 1.01. Definitions. 

        "Acceleration Notice" has the meaning set forth in Section 6.02. 

        "Acquired Indebtedness" means Indebtedness of a Person or any of its Subsidiaries existing at the time such Person becomes a Restricted
Subsidiary of the Issuers or at the time it merges or consolidates with or into an Issuer or any of their Restricted Subsidiaries or assumed in connection with the acquisition of assets from such
Person and in each case not incurred by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary of the Issuers or such acquisition, merger
or consolidation and which Indebtedness is without recourse to the Issuers or any of their Subsidiaries or to any of their respective properties or assets other than the Person or the assets to which
such Indebtedness related prior to the time such Person became a Restricted Subsidiary of the Issuers or the time of such acquisition, merger or consolidation. 

        "Additional Interest" has the meaning set forth in the Registration Rights Agreements. 

        "Additional Notes" means, collectively, the 111/2% Additional Notes and 9% Additional Notes. 

        "Affiliate" means, with respect to any specified Person, any other Person who directly or indirectly through one or more intermediaries
controls, or is controlled by, or is under common control with, such specified Person. The term "control" means the possession, directly or indirectly, of the power to direct or cause the direction of
the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative of the foregoing. A Person shall not be deemed an "Affiliate" of the Issuers or any of their Restricted
Subsidiaries solely as a result of such Person being a joint venture partner of the Issuers or any of their Subsidiaries.

 

        "Affiliate Transaction" has the meaning set forth in Section 4.17. 

        "Agent" means any Registrar, Paying Agent or co-Registrar. 

        "Agent Members" has the meaning set forth in Section 2.14 and means, with respect
to DTC, Euroclear or Clearstream, a Person who has an account with DTC, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

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

        "Asset Acquisition" means (1) an Investment by the Issuers or any Restricted Subsidiary of the Issuers in any other Person pursuant
to which such Person shall become a Restricted Subsidiary of the Issuers or any Restricted Subsidiary of the Issuers, or shall be merged with or into an Issuer or any Restricted Subsidiary of the
Issuers, or (2) the acquisition by an Issuer or any Restricted Subsidiary of the Issuers of the assets of any Person (other than a Restricted Subsidiary of the Issuers) which constitute all or
substantially all of the assets of such Person or comprise any division or line of business of such Person or any other properties or assets of such Person other than in the ordinary course of
business. 

        "Asset Sale" means any direct or indirect sale, issuance, conveyance, transfer, lease (other than operating leases entered into in the
ordinary course of business), assignment or other transfer for value by (x) the Issuers or any of their Restricted Subsidiaries (including any Sale and Leaseback Transaction) to any Person
other than the Issuers or a Guarantor or (y) a Foreign Restricted Subsidiary to the Issuers or a Wholly-Owned Subsidiary of the Issuers of: 

        (1)   any
Capital Stock of any Restricted Subsidiary of the Company (other than any issuance pursuant to clause (2) or (3) of  Section 4.15; or 

        (2)   any
other property or assets of the Issuers or any Restricted Subsidiary of the Issuers other than in the ordinary course of business;  provided, however, that
asset sales or other dispositions shall not include: 

        (a)   a
transaction or series of related transactions for which the Issuers or their Restricted Subsidiaries receive aggregate consideration of less than $1.5 million; 

        (b)   the
sale, lease, conveyance, disposition or other transfer of all or substantially all of the assets (determined on a consolidated basis) of the Issuers as permitted
under Section 5.01; 

        (c)   any
Restricted Payment permitted by Section 4.10; 

        (d)   sales
or other dispositions of inventory, accounts receivable or other current assets in the ordinary course of business; 

        (e)   the
granting of a Permitted Lien; 

        (f)    the
sale of Cash Equivalents; 

        (g)   the
sale, disposal, replacement or abandonment of used, worn out, obsolete or surplus equipment or other property or assets that are no longer used or useful in the
business of the Issuers or their Restricted Subsidiaries (including, without limitation, the dissolution of any Subsidiary of the Issuers to the extent permitted pursuant to this Indenture); 

        (h)   the
sale or discount, in each case without recourse, of accounts receivable arising in the ordinary course of business, but only in connection with the compromise or
collection thereof;

 

        (i)    the
good faith surrender or waiver of contract rights or the settlement, release or surrender of claims of any kind; 

        (j)    the
sale or other disposal of property or assets pursuant to the exercise of any remedies pursuant to any agreements or other security documents relating to any
Indebtedness permitted under this Indenture; and 

        (k)   the
licensing or grant of rights or interests in intellectual property in the ordinary course of business or to the extent that any such license or grant does not
prohibit the Issuers and their Restricted Subsidiaries from otherwise using such intellectual property or require the Issuers and their Restricted Subsidiaries to pay any fees for any such use. 

        "Attributable Debt" in respect of a Sale and Leaseback Transaction means, as at the time of determination, the present value (discounted
at the interest rate borne by the Notes) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction (including
any period for which such lease has been extended); provided that if such Sale and Leaseback Transaction results in a Capitalized Lease Obligation, the
amount of Indebtedness represented thereby will be determined in accordance with the definition of such term. 

        "Authenticating Agent" has the meaning set forth in Section 2.02. 

        "Bankruptcy Code" means the Bankruptcy Reform Act of 1978, as amended, and codified as 11 U.S.C. §§101  et seq. 

        "Board of Directors" means, as to any Person, the board of directors (or similar governing body) of such Person or any duly authorized
committee thereof. 

        "Board Resolution" means, with respect to any Person, a copy of a resolution certified by the Secretary or an Assistant Secretary of such
Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification. 

        "Business Day" means a day that is not a Legal Holiday. 

        "Capital Expenditures" means, for any period, all direct or indirect (by way of acquisition of securities of a Person or the expenditure
of cash or the transfer of property or the incurrence of Indebtedness) expenditures in respect of the purchase or other acquisition of fixed or capital assets determined in conformity with GAAP. 

        "Capital Stock" means: 

        (1)   with
respect to any Person that is a corporation, any and all shares, interests, participations or other equivalents (however designated and whether or not voting) of
corporate stock, including each class of Common Stock and Preferred Stock of such Person and all options, warrants and other rights to purchase or acquire any of the foregoing; and 

        (2)   with
respect to any Person that is not a corporation, any and all partnership, membership or other equity interests of such Person and all options, warrants and other
rights to purchase or acquire any of the foregoing. 

        "Capitalized Lease Obligation" means, as to any Person, the obligations of such Person under a lease that are required to be classified
and accounted for as capital lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of such obligations at such
date, determined in accordance with GAAP.

 

        "Cash Equivalents" means: 

        (1)   marketable
direct obligations issued by, or unconditionally guaranteed by, the United States Government or issued by any agency thereof and backed by the full faith and
credit of the United States, in each case maturing within one year from the date of acquisition thereof; 

        (2)   marketable
direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof
maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody's; 

        (3)   commercial
paper maturing no more than one year from the date of creation thereof and, at the time of acquisition, having a rating of at least A-2 from S&P
and at least P-2 from Moody's; 

        (4)   certificates
of deposit or bankers' acceptances maturing within one year from the date of acquisition thereof issued by any bank organized under the laws of the United
States of America or any state thereof or the District of Columbia or any U.S. branch of a foreign bank having at the date of acquisition thereof combined net capital and surplus of not less than
$250.0 million; 

        (5)   repurchase
obligations with a term of not more than seven days for underlying securities of the types described in  clause (1) above entered into with any bank meeting the qualifications specified in
 clause (4) above; 

        (6)   investments
in money market funds which invest substantially all their assets in securities of the types described in clauses
(1) through (5) above; and 

        (7)   investments
made by Foreign Restricted Subsidiaries in local currencies in instruments issued by or with entities in such jurisdictions having correlative and comparable
attributes to the foregoing. 

        "Change of Control" means the occurrence of one or more of the following events: 

        (1)   any
"person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Holders, is or becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause (1) such person shall be deemed to
have "beneficial ownership" of all shares that any 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 voting power of the Voting Stock of the Company, and one or more Permitted Holders beneficially own, directly or indirectly, in the aggregate a lesser percentage of the
total voting power of the Voting Stock of the Company than such other Person and do not have the right or ability by voting power, contract or otherwise to elect or designate for election a majority
of the Board of Directors of the Company; 

        (2)   Continuing
Directors shall cease for any reason to constitute a majority of the Board of Directors of the Company then in office; 

        (3)   the
approval by the holders of Capital Stock of the Company of a plan for the liquidation or dissolution of the Company; or 

        (4)   the
merger or consolidation of the Company with or into another Person or the merger of another Person with or into the Company, or the sale of all or substantially all
the assets of the Company (determined on a consolidated basis) to another Person (other than, in all such cases, a Person that is controlled by one or more of the Permitted Holders), other than a
transaction following which (A) in the case of a merger or consolidation transaction, holders of securities that represented 100% of the Voting Stock of the Company immediately prior to such
transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least a majority of the voting power of the
Voting Stock

 
of the surviving Person in such merger or consolidation transaction immediately after such transaction or have the right or ability by voting power, contract or otherwise to elect or designate for
election a majority of the Board of Directors of the Company and (B) in the case of a sale of assets transaction, each transferee becomes an obligor in respect of the Notes and a Subsidiary of
the transferor of such assets. 

        "Change of Control Offer" has the meaning set forth in Section 4.11. 

        "Change of Control Payment Date" has the meaning set forth in Section 4.11. 

        "Clearstream" means Clearstream Banking, societe anonyme. 

        "Collateral" shall mean collateral as such term is defined in the Security Agreement, all property mortgaged under the Mortgages and any
other property, whether now owned or hereafter acquired, upon which a Lien securing the Obligations is granted or purported to be granted under any Collateral Agreement. 

        "Collateral Agreements" means, collectively, the Security Agreement, the Pledge Agreement, the Trademark Security Agreement, each Control
Agreement (as defined in the Security Agreement) and each Mortgage, in each case, as the same may be in force from time to time in accordance with its terms. 

        "Collection Agency Agreement" means the Collection Agency Agreement, dated as of the Issue Date, between the Company and MFOC, as the same
may be amended from time to time in accordance with its terms. 

        "Common Stock" of any Person means any and all shares, interests or other participations in, and other equivalents (however designated and
whether voting or non-voting) of such Person's common stock, whether outstanding on the Issue Date or issued after the Issue Date, and includes, without limitation, all series and classes
of such common stock. 

        "Company" has the meaning set forth in the preamble to this Indenture. 

        "Compliance Date" has the meaning set forth in Section 4.23. 

        "Consolidated EBITDA" means, with respect to any Person, for any period, the sum (without duplication) of: 

        (1)   Consolidated
Net Income; and 

        (2)   to
the extent Consolidated Net Income has been reduced thereby (without duplication): 

        (a)   all
income taxes of such Person and its Restricted Subsidiaries paid or accrued in accordance with GAAP for such period (including without duplication amounts paid or
accrued under the Tax Allocation Agreement); 

        (b)   Consolidated
Interest Expense, amortization expense and depreciation expense; 

        (c)   Transaction
Fees and Expenses; and 

        (d)   Consolidated
Non-cash Charges less any non-cash items increasing Consolidated Net Income for such
period, 

all
as determined on a consolidated basis for such Person and its Restricted Subsidiaries in accordance with GAAP. 

        "Consolidated Fixed Charge Coverage Ratio" means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the
four consecutive full fiscal quarters (the "Four Quarter Period") most recently ending on or prior to the date of the transaction or event giving rise
to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which financial statements are

 
available (the "Transaction Date") to Consolidated Fixed Charges of such Person for the Four Quarter Period. In addition to and without limitation of
the foregoing, for purposes of this definition, "Consolidated EBITDA" and "Consolidated Fixed Charges" shall be calculated after giving effect on a pro forma basis for the period of such calculation
to: 

        (1)   the
incurrence or repayment of any Indebtedness of such Person or any of its Restricted Subsidiaries or the issuance or redemption or other repayment of any Preferred
Stock by such Person or any of its Restricted Subsidiaries (and, in each case, the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment
of other Indebtedness or the issuance or redemption or other repayment of any Preferred Stock (and, in each case, the application of the proceeds thereof), occurring during the Four Quarter Period or
at any time subsequent to the last day of the Four Quarter Period and on or prior to the Transaction Date, as if such incurrence or
repayment, as the case may be (and the application of the proceeds thereof), occurred on the first day of the Four Quarter Period; and 

        (2)   any
Asset Sale or other disposition or Asset Acquisition (including, without limitation, any Asset Acquisition giving rise to the need to make such calculation as a
result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of any such Asset Acquisition) incurring, assuming or otherwise being
liable for Acquired Indebtedness) during the Four Quarter Period or at any time subsequent to the last day of the Four Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or
other disposition or Asset Acquisition (including the incurrence, assumption or liability for any such Indebtedness or Acquired Indebtedness and also including any Consolidated EBITDA associated with
the assets that are the subject of such Asset Sale or other disposition or Asset Acquisition) occurred on the first day of the Four Quarter Period;  provided that the Consolidated EBITDA of any Person
acquired shall be included only to the extent includible pursuant to the definition of "Consolidated
Net Income." If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such
guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such guaranteed Indebtedness. 

        Furthermore,
in calculating "Consolidated Fixed Charges" for purposes of determining the denominator (but not the numerator) of this "Consolidated Fixed Charge Coverage Ratio": 

        (a)   interest
on outstanding Indebtedness determined on a fluctuating basis as of the Transaction Date (including Indebtedness actually incurred on the Transaction Date) and
which will continue to be so determined thereafter shall be deemed to have accrued at a fixed rate per annum equal to the rate of interest on such Indebtedness in effect on the Transaction Date; and 

        (b)   notwithstanding
clause (a) above, interest on Indebtedness determined on a fluctuating basis, to the extent such
interest is covered by agreements relating to Interest Swap Obligations, shall be deemed to accrue at the rate per annum resulting after giving effect to the operation of such agreements. 

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

        (1)   Consolidated
Interest Expense (excluding amortization or write-off of deferred financing costs and debt issuance costs of such Person and its consolidated
Restricted Subsidiaries during such period and any premium or penalty paid in connection with redeeming or retiring Indebtedness of such Person and its consolidated Restricted Subsidiaries prior to
the stated maturity thereof pursuant to the agreements governing such Indebtedness); plus

        (2)   the
product of (x) the amount of all dividend payments on any series of Preferred Stock of such Person (other than dividends paid in Qualified Capital Stock) or,
to the extent permitted

 
under this Indenture, its Restricted Subsidiaries paid in cash during such period to any Person other than such Person or any of its Restricted Subsidiaries  times (y) a fraction, the numerator of
which is one and the denominator of which is one minus the then current effective consolidated federal,
state and local tax rate of such Person, expressed as a decimal. 

        "Consolidated Indebtedness Ratio" means, as to any date of determination, the ratio of the principal amount of Net Indebtedness of the
Company and its Restricted Subsidiaries as of such date, determined on a consolidated basis for the Company and its Restricted Subsidiaries in accordance with GAAP, to the Consolidated EBITDA of the
Company with respect to the four most recently completed fiscal quarters of such Person through such date. 

        "Consolidated Interest Expense" means, with respect to any Person for any period, the aggregate of the interest expense of such Person and
its Restricted Subsidiaries for such period, on a consolidated basis, as determined in accordance with GAAP, and including, without duplication, (a) all amortization of original issue discount,
(b) the interest component of Capitalized Lease Obligations paid, accrued and/or scheduled to be paid or accrued by such Person and its Restricted Subsidiaries during such period, and
(c) net cash costs under all Interest Swap Obligations, other than any cash costs paid to unwind Interest Rate Obligations existing on and prior to the Issue Date,  excluding, however, any amount of such interest expense of any Restricted Subsidiary if (A) the
net income of such Restricted Subsidiary is excluded in the calculation of Consolidated Net Income pursuant to clause (4) of the definition thereof (but only in the same proportion as the net
income of such Restricted Subsidiary is excluded from the calculation of Consolidated Net Income pursuant to clause (4) of the definition thereof) or (B) on or prior to the Issue
Date, money has been set aside for the payment of such interest and at the time of determination is held to secure such payment thereof. 

        "Consolidated Net Income" means, with respect to any Person, for any period, the aggregate net income (or loss) of such Person and its
Restricted Subsidiaries for such period on a consolidated basis, determined in accordance with GAAP; provided,  however, that there shall be excluded
therefrom, without duplication: 

        (1)   after-tax
gains and losses from Asset Sales or abandonments or reserves relating thereto; 

        (2)   after-tax
items classified as extraordinary or nonrecurring gains or losses; 

        (3)   gains
and losses due solely to fluctuations in currency values and the related tax effects according to GAAP; 

        (4)   only
for purposes of calculating cumulative Consolidated Net Income for purposes of Section 4.10, the net income
of any Restricted Subsidiary of the referent Person to the extent that the declaration of dividends or similar distributions by that Restricted Subsidiary of that income is restricted by a contract,
operation of law or otherwise; 

        (5)   the
net income of any other Person, other than a Restricted Subsidiary of the referent Person, except to the extent of cash dividends or distributions paid to the
referent Person or to a Restricted Subsidiary of the referent Person by such Person; 

        (6)   any
restoration to income of any material contingency reserve, except to the extent that provision for such reserve was made out of Consolidated Net Income accrued at
any time following the Issue Date; 

        (7)   income
or loss attributable to discontinued operations (including, without limitation, operations disposed of during such period whether or not such operations were
classified as discontinued); and

 

        (8)   in
the case of a successor to the referent Person by consolidation or merger or as a transferee of the referent Person's assets, any earnings of the successor
corporation prior to such consolidation, merger or transfer of assets. 

        "Consolidated Net Worth" of any Person means the consolidated stockholders' equity of the Company, determined on a consolidated basis in
accordance with GAAP, less (without duplication) amounts attributable to Disqualified Capital Stock of such Person. 

        "Consolidated Non-cash Charges" means, with respect to any Person, for any period, the aggregate depreciation, amortization
and other non-cash expenses (including but not limited to stock-based compensation charges, impairment of goodwill, intangibles or fixed assets and non-cash restructuring
charges) of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person and its Restricted Subsidiaries for such period, determined on a consolidated basis in
accordance with GAAP (excluding any such charges constituting an extraordinary item or loss or any such charge which requires an accrual of or a reserve for cash charges for any future period). 

        "Continuing Directors" means the collective reference to all members of the Board of Directors of the Company who have (i) held
office continuously since the Issue Date or (ii) assumed office after such date and whose appointment or nomination for election by the stockholders of the Company was approved by a vote of a
majority of the Continuing Directors in office immediately prior to such appointment or nomination. 

        "Contribution Agreement" means that certain Contribution Agreement, to be dated as of the Issue Date, by and among MFOC, each of the
subsidiaries of MFOC identified therein, the Company and each of the subsidiaries of the Company identified therein. 

        "Corporate Trust Office" means the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular
time, be principally administered, which office is, at the date of this Indenture, located at 101 Barclay Street, Floor 8 West, New York, New York 10286, Attention: Corporate Trust Administration, or
such other address as the Trustee may designate from time to time by notice to the Holders and the Issuers, or the principal corporate trust office of any successor Trustee (or such other address as
such successor Trustee may designate from time to time by notice to the Holders and the Issuers). 

        "Covenant Defeasance" has the meaning set forth in Section 8.01. 

        "Currency Agreement" means any foreign exchange contract, currency swap agreement or other similar agreement or arrangement designed to
protect the Company or any Restricted Subsidiary of the Company against fluctuations in currency values. 

        "Custodian" means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Code. 

        "Default" means an event or condition the occurrence of which is, or with the lapse of time or the giving of notice or both would be, an
Event of Default. 

        "Depository" means DTC, its nominees and successors. 

        "Disqualified Capital Stock" means that portion of any Capital Stock which, by its terms (or by the terms of any security into which it is
convertible or for which it is exchangeable at the option of the holder thereof), or upon the happening of any event (other than an event which would constitute a Change of Control), matures or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the sole option of the holder thereof (except in each case, upon the occurrence of a Change of Control)
on or prior to the date which is 91 days after the final maturity date of the Notes for cash or is convertible into or exchangeable for debt securities of the Issuers or their Subsidiaries at
any time prior to such date; provided that any Capital Stock that would not

 
constitute Disqualified Capital Stock but for the provisions thereof giving holders the right to require such Person to repurchase or redeem such Capital Stock upon the occurrence of an Asset Sale or
a Change of Control occurring prior to the stated maturity of the notes shall not constitute Disqualified Capital Stock if the Asset Sale or Change of Control provisions applicable to such Capital
Stock are no more favorable to the holders of such Capital Stock than the provisions contained in Section 4.11 and  Section 4.13 and such Capital
Stock specifically provides that such Person will not repurchase or redeem any such Capital Stock pursuant to such
provisions prior to the Issuers' repurchase of such Notes as are required to be repurchased pursuant to such covenants. 

        "Domestic Restricted Subsidiary" means any Restricted Subsidiary of the Issuers that is not a Foreign Restricted Subsidiary. 

        "DTC" means The Depository Trust Company, its nominees and successors. 

        "111/2% Additional Notes" means the 111/2% Notes, other than 111/2% Exchange Notes,
originally issued after the Issue Date from time to time in accordance with the terms of this Indenture including, without limitation, the provisions of  Section 2.02. 

        "111/2% Exchange Notes" has the meaning set forth in the first recital to this Indenture. 

        "111/2% Initial Notes" has the meaning set forth in the first recital to this Indenture. 

        "111/2% Notes" has the meaning set forth in the first recital to this Indenture. 

        "Equity Offering" means any private or public offering of Qualified Capital Stock of the Company or any holding company of the Company. 

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

        "Event of Default" has the meaning set forth in Section 6.01. 

        "Excess Cash Flow" means, for any fiscal year (beginning with fiscal year 2004) as to which the Consolidated Indebtedness Ratio at fiscal
year end exceeds 3.75:1.0, the Company's Consolidated EBITDA for such year, adjusted (without duplication) as follows: (i) minus the cash portion
of the Company's consolidated interest expense (net of interest income) and the cash portion of any related financing fees for such year;
(ii) minus the cash portion of all federal, state and foreign income taxes and franchise taxes paid by the Company and its Restricted
Subsidiaries during such year; (iii) minus all Capital Expenditures made during such year by the Company and its Restricted Subsidiaries; and
(iv) in the case where such fiscal year is fiscal year 2004, minus the cash portion of Transaction Fees and Expenses for such year in excess of
$10.0 million. 

        "Excess Cash Flow Offer" shall have the meaning set forth in Section 4.12. 

        "Excess Cash Flow Offer Amount" shall have the meaning set forth in Section 4.12. 

        "Excess Cash Flow Offer Payment Date" shall have the meaning set forth in  Section 4.12. 

        "Excess Cash Flow Offer Trigger Date" shall have the meaning set forth in  Section 4.12. 

        "Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor statute or statutes thereto. 

        "Exchange Notes" has the meaning set forth in the first recital to this Indenture. 

        "Exchange Offer" means an exchange offer that may be made by the Issuers, pursuant to the Registration Rights Agreements, to exchange for
any and all the Notes a like aggregate principal amount of notes having substantially identical terms to the Notes registered under the Securities Act. 

   
        "Fair Market Value" means, with respect to any asset or property, the price which could be negotiated in an arm's length, free market
transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. Fair Market Value shall be determined
by the Board of Directors of the Company acting reasonably and in good faith and if such value exceeds $5.0 million, shall be evidenced by a Board Resolution of the Board of Directors of the
Company, delivered to the Trustee. 

        "Foreign Restricted Subsidiary" means any Foreign Subsidiary that is a Restricted Subsidiary. 

        "Foreign Subsidiary" means any Subsidiary of the Issuers (1)(x) which is organized under the laws of any jurisdiction outside of
the United States of America, any political subdivision thereof or the District of Columbia, (y) which conducts the major portion of its business outside of the United States of America and
(z) all or substantially all of the property and assets of which are located outside of the United States of America or (2) which is organized under the laws of the United States, any
political subdivision thereof or the District of Columbia, but whose assets consist solely of the Capital Stock of one or more Foreign Subsidiaries described in clause (1) of this definition. 

        "GAAP" means accounting principles generally accepted in the United States set forth in the opinions and, as the case may be,
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 may be approved by a significant segment of the accounting profession of the United States, which are in effect from time to time. 

        "Global Notes" has the meaning set forth in Section 2.01. 

        "Guarantee" has the meaning set forth in Section 10.01. 

        "Guarantor" means (1) all Domestic Restricted Subsidiaries of the Company other than its Immaterial Subsidiaries existing on the
Issue Date and MFFC and (2) each of the Company's Domestic Restricted Subsidiaries that in the future executes a supplemental indenture in which such Domestic Restricted Subsidiary agrees to be
bound by the terms of this Indenture as a Guarantor; provided, that any Person constituting a Guarantor as described above shall cease to constitute a
Guarantor when its respective Guarantee is released in accordance with the terms of this Indenture. 

        "Holder" means the Person in whose name a Note is registered on the registrar's books. 

        "IAI Global Notes" has the meaning set forth in Section 2.01. 

        "Immaterial Subsidiary" means any Restricted Subsidiary of the Company (other than MFFC) (i) that is a Foreign Restricted
Subsidiary or (ii) that has (1) assets with a Fair Market Value or book value (whichever is greater) less than $50,000 and (2) revenues not exceeding $5,000 during the
twelve months preceding the Issue Date and, thereafter, during the twelve months preceding the Company's most recent fiscal quarter. 

        "incur" has the meaning set forth in Section 4.08. 

        "Indebtedness" means with respect to any Person, without duplication: 

        (1)   all
Obligations of such Person for borrowed money; 

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

        (3)   all
Capitalized Lease Obligations of such Person; 

        (4)   all
Obligations of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations and all Obligations under any title
retention agreement

 
(but excluding trade accounts payable and other accrued liabilities arising in the ordinary course of business that are not overdue by 180 days or more or are being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted and any deferred purchase price represented by earn-outs consistent with the Company's past practice); 

        (5)   all
Obligations for the reimbursement of any obligor on any letter of credit, banker's acceptance or similar credit transaction, whether or not then due, but excluding
Obligations with respect to letters of credit (including trade letters of credit) to the extent such Obligations are cash collateralized or such
letters of credit secure Obligations (other than Obligations described in clauses (1), (2) and  (3) above)
entered into in the ordinary course of business of such Person and such letters of credit are not drawn upon or, if drawn upon, to the extent
any such drawing is reimbursed no later than three Business Days following receipt by such Person of a demand for reimbursement; 

        (6)   guarantees
and other contingent obligations in respect of Indebtedness referred to in clauses (1) through  (5) above and clause (8)
 below; 

        (7)   all
Obligations of any other Person of the type referred to in clauses (1) through (6) which are secured by any Lien on any property or asset of such
Person, the amount of such Obligation being deemed to be the lesser of the Fair Market Value of such property or asset or the amount of the Obligation so secured; 

        (8)   all
net Interest Swap Obligations and all net Obligations under Currency Agreements of such Person; and 

        (9)   all
Disqualified Capital Stock issued by such Person with the amount of Indebtedness represented by such Disqualified Capital Stock being equal to the greater of its
voluntary or involuntary liquidation preference and its maximum fixed repurchase price, but excluding accrued dividends, if any. 

        For
purposes hereof, the "maximum fixed repurchase price" of any Disqualified Capital Stock which does not have a fixed repurchase price
shall be calculated in accordance with the terms of such Disqualified Capital Stock as if such Disqualified 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 Disqualified Capital Stock, such Fair Market Value shall be determined reasonably
and in good faith by the Board of Directors of the issuer of such Disqualified Capital Stock. 

        The
amount of Indebtedness of any Person at any date shall be the amount that shall be attributable to such Indebtedness on a balance sheet of such Person at such date, all as determined
on a consolidated basis for such Person and its Restricted Subsidiaries in accordance with GAAP. 

        "Indemnified Party" has the meaning set forth in Section 7.07. 

        "Indenture" means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof. 

        "Indenture Documents" means, collectively, this Indenture, the Notes, the Guarantees, and the Collateral Agreements. 

        "Independent Financial Advisor" means a nationally-recognized accounting, appraisal or investment banking firm which, in the judgment of
the Board of Directors of the Company, is independent and qualified to perform the task for which it is to be engaged. 

        "Initial Notes" means 111/2% Initial Notes and the 9% Initial Notes. 

        "Initial Purchaser" means Jefferies & Company, Inc.

 

        "Institutional Accredited Investor" means an institution that is an "accredited investor" as that term is defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 

        "Interest Payment Date" means the stated maturity of an installment of interest on the Notes. 

        "Interest Swap Obligations" means the obligations of any Person pursuant to any arrangement with any other Person, whereby, directly or
indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying either a floating or a fixed rate of interest on a stated notional amount in exchange for
periodic payments made by such other Person calculated by applying a fixed or a floating rate of interest on the same notional amount and shall include, without limitation, interest rate swaps, caps,
floors, collars and similar agreements, in each case, determined as if such agreement were terminated on the date such obligations were being determined for purposes of this Indenture. 

        "Investment" means, with respect to any Person, any direct or indirect loan or other extension of credit (including, without limitation, a
guarantee) 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 or
acquisition for value by such Person of any Capital Stock, bonds, notes, debentures or other securities or evidences of Indebtedness issued by, any Person. "Investment" shall exclude extensions of
trade credit by the Company and its Restricted Subsidiaries on commercially reasonable terms in accordance with normal trade practices of the Company and its Restricted Subsidiaries. 

        "Issue Date" means the date of original issuance of the Notes. 

        "Issuers" shall have the meaning set forth in the preamble to this Indenture. 

        "Legal Defeasance" has the meaning set forth in Section 8.01. 

        "Legal Holiday" has the meaning set forth in Section 11.07. 

        "Lien" means any lien, mortgage, deed of trust, pledge, security interest, charge or encumbrance of any kind (including any conditional
sale or other title retention agreement, any lease in the nature thereof and any agreement to give any security interest). 

        "Management Agreement" means that certain Management Agreement, dated as of the Issue Date, by and between the Company and MFOC, as the
same may be amended from time to time in accordance with its terms. 

        "Maturity Date" means March 15, 2011. 

        "MFFC" means the co-issuer of the Notes, Mrs. Fields Financing Company, Inc., a Delaware corporation and a
wholly-owned subsidiary of the Company. 

        "MFH" means Mrs. Fields' Holding Company, Inc., a Delaware corporation that will be MFOC's direct parent on the Issue Date. 

        "MFOC" means Mrs. Fields' Original Cookies, Inc., a Delaware corporation that will be the Company's direct parent on the
Issue Date. 

        "MFOC Cash Flow Analysis" has the meaning set forth in Section 4.10(b). 

        "MFOC Covered Period" has the meaning set forth in Section 4.10(b). 

        "MFOC Cutoff Date" has the meaning set forth in Section 4.10(b). 

        "MFOC Franchise Agreements" means the various Franchise Agreements, dated as of the Issue Date, between either the Company or a
Wholly-Owned Subsidiary of the Company, as franchisor, and

 
either MFOC or Wholly-Owned Subsidiary of MFOC, as franchisee, as the same may be amended from time to time in accordance with its terms. 

        "MFOC Notes" means the $140 million aggregate principal amount of 101/8% senior notes of MFOC due 2004. 

        "Moody's" means Moody's Investors Service, Inc. 

        "Mortgages" means the mortgages, deeds of trust, deeds to secure debt or other similar documents delivered by the Issuers or any of their
Domestic Restricted Subsidiaries pursuant to the terms of this Indenture which create, in favor of the Trustee, Liens on any fee interest in real property owned by the Issuers or any such Domestic
Restricted Subsidiary, as the case may be, as collateral security for the payment obligations of the Issuers under this Indenture and the Notes or of such Domestic Restricted Subsidiary under its
Guarantee, as the case may be. 

        "Net Cash Proceeds" means, with respect to any Asset Sale, the proceeds in the form of cash or Cash Equivalents including payments in
respect of deferred payment obligations when received in the form of cash or Cash Equivalents (other than the portion of any such deferred payment constituting interest) received by the Issuers or any
of their Restricted Subsidiaries from such Asset Sale net of: 

        (1)   reasonable
out-of-pocket expenses and fees relating to such Asset Sale (including, without limitation, legal, accounting and investment banking
fees and sales commissions and severance and relocation costs and expenses); 

        (2)   all
taxes and other costs and expenses actually paid or estimated by the Company (in good faith) to be payable in cash in connection with such Asset Sale; 

        (3)   in
the case of an Asset Sale of Collateral, repayment of Indebtedness that is secured by the property or assets that are the subject of such Asset Sale and, in the case
of any other Asset Sale, repayment of Indebtedness that is required to be repaid in connection with such Asset Sale; 

        (4)   amounts
required to be paid to any Person (other than the Issuers or any of their Restricted Subsidiaries) owning a beneficial interest in the assets that are the
subject of the Asset Sale and as permitted under this Indenture; and 

        (5)   appropriate
amounts to be provided by the Issuers 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 Issuers 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; 

provided, however, that if, after the payment of all taxes with respect to such Asset Sale, the amount
of estimated taxes, if any, pursuant to clause (2) above exceeded the tax amount actually paid in cash in respect of such Asset Sale, the aggregate amount of such excess shall, at such
time, constitute Net Cash Proceeds. 

        "Net Indebtedness" means, with respect to any Person, at any date of determination, the excess, if any, of the amount of Indebtedness of
such Person at such date over the amount of cash and Cash Equivalents of such Person at such date, all as determined on a consolidated basis for such Person and its Restricted Subsidiaries in
accordance with GAAP. 

        "Net Proceeds Offer" shall have the meaning set forth in Section 4.13. 

        "Net Proceeds Offer Amount" shall have the meaning set forth in Section 4.13. 

        "Net Proceeds Offer Payment Date" shall have the meaning set forth in Section 4.13.

 

        "Net Proceeds Offer Trigger Date" shall have the meaning set forth in Section 4.13. 

        "9% Additional Notes" means the 9% Notes, other than 9% Exchange Notes, originally issued after the Issue Date from time to time in
accordance with the terms of this Indenture including, without limitation, the provisions of Section 4.08. 

        "9% Exchange Notes" has the meaning set forth in the second recital to this Indenture. 

        "9% Initial Notes" has the meaning set forth in the second recital to this Indenture. 

        "9% Notes" has the meaning set forth in the second recital to this Indenture. 

        "Non-compliant FIN 46 Requirements" has the meaning set forth in  Section 4.23. 

        "Non-U.S. Person" means a Person who is not a U.S. person, as defined in Regulation S. 

        "Notes" means, collectively, the 111/2% Notes and the 9% Notes. 

        "Obligations" means all obligations for principal, premium, interest, Additional Interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

        "Offering" means the offering of the Notes hereunder. 

        "Officer" means, with respect to either Issuer, the Chief Executive Officer, the President, the Chief Financial Officer or any Vice
President of such Issuer. 

        "Officers' Certificate" means, with respect to either Issuer, a certificate signed by two Officers of such Issuers, at least one of whom
shall be the principal financial officer of such Issuer, and delivered to the Trustee. 

        "Offshore Physical Notes" has the meaning set forth in Section 2.01. 

        "144A Global Notes" has the meaning set forth in Section 2.01. 

        "Opinion of Counsel" means a written opinion of counsel who shall be reasonably acceptable to the Trustee, as applicable. 

        "Parent" means Mrs. Fields' Companies, Inc, a Delaware corporation that will be an indirect parent of the Company and an indirect
parent of MFOC on the Issue Date. 

        "Paying Agent" has the meaning set forth in Section 2.03. 

        "Permitted Holders" means (i) Capricorn Investors II, L.P., Capricorn Investors III, L.P. or any Affiliate or limited partner
thereof or any fund or account controlled or managed by or under common control with Capricorn Investors II, L.P., Capricorn Investors III, L.P. or any Affiliate or limited partner thereof, and
(ii) Capricorn Holdings, LLC, Capricorn Holdings III, LLC and employees, management and directors of, and pooled investment vehicles managed by, any of the foregoing, their limited partners and
their respective Affiliates. 

        "Permitted Indebtedness" means, without duplication, each of the following: 

        (1)   Indebtedness
under this Indenture and the Notes issued in the Offering, the Refinancing Transactions or in the Exchange Offer and the related Guarantees; 

        (2)   letters
of credit issued on behalf of the Company or any of its Subsidiary Guarantors in the ordinary course consistent with past practice being deemed to have a
principal amount equal to the maximum potential liability of the Company thereunder) in an aggregate principal amount at any time outstanding not to exceed 3.0 million;

 

        (3)   other
Indebtedness of the Company and its Restricted Subsidiaries outstanding on the Issue Date; 

        (4)   Interest
Swap Obligations of the Company or any Restricted Subsidiary of the Company covering Indebtedness of the Company or any of its Restricted Subsidiaries;  provided, however, that such Interest Swap Obligations are entered into for the purpose of fixing or
hedging interest rates with respect to any fixed or variable rate Indebtedness that is permitted by this Indenture to be outstanding to the extent that the notional amount of any such Interest Swap
Obligation does not exceed at the time of the incurrence thereof, the principal amount of Indebtedness to which such Interest Swap Obligation relates; 

        (5)   Indebtedness
under Currency Agreements; provided that in the case of Currency Agreements which relate to Indebtedness,
such Currency Agreements do not increase the Indebtedness of the Company and its Restricted Subsidiaries outstanding other than as a result of fluctuations in foreign currency exchange rates or by
reason of fees, indemnities and compensation payable thereunder; 

        (6)   Indebtedness
of a Domestic Restricted Subsidiary of the Company to the Company or to a Restricted Subsidiary of the Company for so long as such Indebtedness is held by
the Company or a Restricted Subsidiary of the Company or the holder of a Permitted Lien thereon of the type described in clause (13), (15) or (16) of the definition thereof, in
each case subject to no Lien held by a Person other than the Company or a Restricted Subsidiary of the Company or the holder of a Permitted Lien of the type described in clause (13),
(15) or (16) of the definition thereof; provided that (a) any such Indebtedness is subordinated, pursuant to a written agreement by
the holder thereof, to such Subsidiary's Obligations under this Indenture and its Guarantee and (b) if as of any date any Person other than the Company or a Restricted Subsidiary of the Company
or the holder of a Permitted Lien thereon of the type described in clause (13), (15) or (16) of the definition thereof owns or holds any such Indebtedness or holds a Lien in
respect of such Indebtedness, such date shall be deemed the incurrence of Indebtedness not constituting Permitted Indebtedness under this  clause (6) by the issuer of such Indebtedness; 

        (7)   Indebtedness
of a Foreign Restricted Subsidiary of the Company to the Company or to a Domestic Restricted Subsidiary of the Company for so long as such Indebtedness is
held by the Company or a Domestic Restricted Subsidiary of the Company and is permitted to be made as a Permitted Investment under clause (16) of the definition thereof or the holder of a
Permitted Lien thereon of the type described in clause (13), (15) or (16) of the definition thereof, in each case subject to no Lien held by a Person other than the Company or a
Domestic Restricted Subsidiary of the Company or the holder of a Permitted Lien of the type described in clause (13), (15) or (16) of the definition thereof;  provided that if as of any
date any Person other than the Company or a Domestic Restricted Subsidiary of the Company or the holder of a Permitted Lien
thereon of the type described in clause (13), (15) or (16) of the definition thereof owns or holds any such Indebtedness or holds a Lien in respect of such Indebtedness, such date
shall be deemed the incurrence of Indebtedness not constituting Permitted Indebtedness under this clause (7) by the issuer of such Indebtedness; 

        (8)   Indebtedness
of a Foreign Restricted Subsidiary of the Company to a Foreign Restricted Subsidiary of the Company for so long as such Indebtedness is held by a Foreign
Restricted Subsidiary of the Company or the holder of a Permitted Lien thereon of the type described in clause (17) of the definition thereof, in each case subject to no Lien held by a Person
other than the Company or a Foreign Restricted Subsidiary of the Company or the holder of a Permitted Lien of the type described in clause (17) of the definition thereof;  provided that if as of any
date any Person other than a Foreign Restricted Subsidiary of the Company or the holder of a Permitted Lien thereon of the
type described in clause (17) of the definition thereof owns or holds

 
any such Indebtedness or holds a Lien in respect of such Indebtedness, such date shall be deemed the incurrence of Indebtedness not constituting Permitted Indebtedness under this  clause (8) by the
issuer of such Indebtedness; 

        (9)   Indebtedness
of the Company to a Restricted Subsidiary of the Company for so long as such Indebtedness is held by a Restricted Subsidiary of the Company, in each case
subject to no Lien other than a Permitted Lien of the type described in clause (13), (15) or (16) of the definition thereof;  provided, that (a) any such Indebtedness is subordinated,
pursuant to a written agreement by the holder thereof, to the Company's Obligations
under this Indenture and the Notes and (b) if as of any date any Person other than a Restricted Subsidiary of the Company or the holder of a Permitted Lien of the type described in
clause (13), (15) or (16) of the definition thereof, owns or holds any such Indebtedness or any Person holds a Lien in respect of such Indebtedness, such date shall be deemed the
incurrence of Indebtedness not constituting Permitted Indebtedness under this clause (9) by the Company; 

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

        (11) Indebtedness
of the Company or any of its Restricted Subsidiaries represented by letters of credit for the account of the Company or such Restricted Subsidiary, as the
case may be, in order to provide security for performance bonds, bankers' acceptances, workers' compensation claims, surety and appeal bonds, payment obligations in connection with
self-insurance or similar requirements and bank overdrafts incurred in the ordinary course of business; 

        (12) Indebtedness
represented by Capitalized Lease Obligations and Purchase Money Indebtedness of the Company and its Restricted Subsidiaries incurred in the ordinary course
of business (including Refinancings thereof that do not result in an increase in the aggregate principal amount of Indebtedness of such Person as of the date of such proposed Refinancing (plus the
amount of any premium required to be paid under the terms of the instrument governing such Indebtedness and plus the amount of reasonable expenses incurred by the Company in connection with such
Refinancing)) not to exceed $5.0 million at any time outstanding; 

        (13) Refinancing
Indebtedness; 

        (14) Guarantees
by the Company or a Restricted Subsidiary of Indebtedness incurred by the Company or a Restricted Subsidiary so long as the incurrence of such Indebtedness
by the Company or any such Restricted Subsidiary is otherwise permitted by the terms of this Indenture; 

        (15) Indebtedness
of Foreign Restricted Subsidiaries of the Company, in an aggregate outstanding principal amount not to exceed $2.0 million; 

        (16) Indebtedness
arising from agreements of the Company or a Subsidiary providing for the guarantee, indemnification, adjustment of purchase price or similar obligations,
in each case, incurred in connection with the disposition of any business, assets or Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such
business, assets or Subsidiary for the purpose of financing such acquisition; provided, that the maximum aggregate liability in respect of all such
Indebtedness shall at no time exceed the gross proceeds actually received by the Company and the Subsidiary in connection with such disposition; 

        (17) Indebtedness
of the Company or any of its Restricted Subsidiaries to the extent the net proceeds thereof are promptly used to redeem the Notes in full or deposited to
defease or discharge the Notes, in each case, in accordance with this Indenture;

 

        (18) the
guarantee by the Company or any of its Restricted Subsidiaries of operating store lease obligations of any franchisee or sublessee of the Company or any of its
Restricted Subsidiaries in the ordinary course of business and consistent with past practice; provided, that the aggregate amount of such guarantees,
when taken together with the Indebtedness and guarantees permitted to be incurred and made pursuant to clause (19) below, does not exceed $3.0 million outstanding at any time; 

        (19) Indebtedness
of the Company or any Restricted Subsidiary or the guarantee by the Company or any Restricted Subsidiary of Indebtedness incurred by franchisees in
connection with the cost of purchasing a franchise or the cost of equipment in connection with the set-up of a franchise; provided, that the
aggregate amount of such Indebtedness and guarantees, when taken together with the guarantees permitted to be made pursuant to clause (18) above, does not exceed $3.0 million outstanding
at any time; 

        (20) Indebtedness
in the form of notes issued by the Company in connection with the repurchase, redemption, acquisition or retirement of Capital Stock of the Company or any
direct or indirect parent of the Company in an aggregate amount not to exceed $500,000 at any time outstanding to the extent such repurchase, redemption, acquisition or retirement was permitted under
clause (5) of the third sentence under Section 4.10(b) and the payment of such Indebtedness is subordinated in right of payment to
the Notes; and 

        (21) additional
Indebtedness of the Company and its Restricted Subsidiaries in an aggregate principal amount not to exceed $5.0 million at any time outstanding. 

        For
purposes of determining compliance with Section 4.08, (i) in the event that an item of Indebtedness meets the criteria
of more than one of the categories of Permitted Indebtedness described in clauses (1) through (21) above
or is entitled to be incurred pursuant to the Consolidated Fixed Charge Coverage Ratio provisions of such covenant, the Company shall, in its sole discretion, classify (or later reclassify) such item
of Indebtedness in any manner that complies with Section 4.08, (ii) the amount of Indebtedness issued at a price which is less than the
principal amount thereof shall be equal to the original issue price of such Indebtedness, (iii) Indebtedness incurred in connection with, or in contemplation of, any transaction described in
the definition of the term "Acquired Indebtedness" shall be deemed to have been incurred by the Company or one of its Restricted Subsidiaries, as the case may be, at the time an acquired Person
becomes such a Restricted Subsidiary (or is merged into the Company or such a Restricted Subsidiary) or at the time of the acquisition of assets, as the case may be, and (iv) the maximum amount
of Indebtedness that the Company and its Restricted Subsidiaries may incur pursuant to Section 4.08 shall not be deemed to be exceeded, with
respect to any outstanding Indebtedness, due solely to the result of fluctuations in the exchange rates of currencies. Accrual of interest, accretion or amortization of original issue discount, the
payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, and the payment of dividends on Disqualified Capital Stock in the form of additional shares of the
same class of Disqualified Capital Stock will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Capital Stock for purposes of  Section 4.08. 

        "Permitted Investments" means: 

        (1)   Investments
by the Company or any Restricted Subsidiary of the Company in any Person that is or will become immediately after such Investment a Guarantor or that will
merge or consolidate into the Company or a Guarantor; 

        (2)   Investments
in the Company by any Restricted Subsidiary of the Company; provided that any Indebtedness evidencing such
Investment held by a Restricted Subsidiary shall satisfy the requirements of clause (9) of the definition of the term "Permitted Indebtedness;"

 

        (3)   Investments
by any Foreign Restricted Subsidiary of the Company in any other Foreign Restricted Subsidiary of the Company; 

        (4)   Investments
in cash and Cash Equivalents; 

        (5)   loans
and advances, including advances for travel and moving expenses, to employees, officers and directors of the Company and its Restricted Subsidiaries in the
ordinary course of business for bona fide business purposes not in excess of $1.0 million at any one time outstanding; 

        (6)   Currency
Agreements and Interest Swap Obligations entered into in the ordinary course of the Company's or its Restricted Subsidiaries' businesses and otherwise in
compliance with this Indenture; 

        (7)   Investments
in the Notes, whether acquired on the open market, a privately negotiated purchase or otherwise; 

        (8)   Investments
consisting of securities of trade creditors or customers received pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or
insolvency of such trade creditors or customers in exchange for claims against such trade creditors or customers or in good faith settlement of delinquent obligations of such trade creditors or
customers; 

        (9)   Investments
made by the Company or its Restricted Subsidiaries as a result of an Asset Sale made in compliance with  Section 4.13; 

        (10) Investments
made by the Company or its Restricted Subsidiaries as a result of consideration received in connection with an Asset Sale made in compliance with  Section 4.13; 

        (11) Investments
represented by guarantees that are otherwise permitted under this Indenture; 

        (12) any
acquisition of assets the payment for which is Qualified Capital Stock of the Company; 

        (13) Advances
to suppliers and customers in the ordinary course of business; 

        (14) Investments
acquired and cancelled pursuant to the Refinancing Transactions and any other Investments existing on the Issue Date; 

        (15) Investments
in notes of employees, officers, directors and their transferees and Affiliates issued to the Company representing payment of the exercise price of options
to purchase common stock of the Company; and 

        (16) additional
Investments not to exceed $10.0 million at any time outstanding. 

        "Permitted Liens" means the following types of Liens: 

        (1)   Liens
for taxes, assessments or governmental charges or claims either (a) not delinquent or (b) contested in good faith by appropriate proceedings and as
to which the Company or any of its Restricted Subsidiaries shall have set aside on its books such reserves as may be required pursuant to GAAP; 

        (2)   statutory
Liens of landlords and Liens of carriers, warehousemen, mechanics, suppliers, materialmen, repairmen and other Liens imposed by law or pursuant to customary
reservations or retentions of title incurred in the ordinary course of business for sums not yet delinquent or being contested in good faith, if such reserve or other appropriate provision, if any, as
shall be required by GAAP shall have been made in respect thereof; 

        (3)   Liens
incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security,
including any Lien securing letters of credit issued in the ordinary course of business consistent with past

 
practice in connection therewith, or to secure the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases, government contracts, performance and
return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money); 

        (4)   Liens
arising by reason of any judgment, decree or order of any court, but not giving rise to an Event of Default so long as such Lien is 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; 

        (5)   survey
exceptions, easements, rights-of-way, zoning restrictions and other similar charges or encumbrances in respect of real property not
interfering in any material respect with the ordinary conduct of the business of the Company or any of its Restricted Subsidiaries; 

        (6)   any
interest or title of a lessor under any operating lease or any Capitalized Lease Obligation permitted pursuant to clause (12) of the definition of
"Permitted Indebtedness" or Liens securing any such Capitalized Lease Obligation; provided that such Liens do not extend to any property or assets which
is not leased property subject to such Capitalized Lease Obligation; 

        (7)   Liens
securing Purchase Money Indebtedness permitted pursuant to clause (12) of the definition of "Permitted Indebtedness;"  provided, however, that
(a) such Indebtedness shall not exceed the cost of the property or assets
acquired, together with, in the case where such property or assets include real property or fixtures, the cost of the construction thereof and improvements thereto, and shall not be secured by any
property or assets of the Company or any Restricted Subsidiary of the Company other than such property and improvements thereto so acquired or constructed and (b) the Lien securing such
Indebtedness shall be created within 180 days of such acquisition or construction or, in the case of a refinancing of such Indebtedness, within 180 days of such refinancing; 

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

        (9)   Liens
securing reimbursement obligations with respect to commercial letters of credit which encumber documents and other property relating to such letters of credit and
products and proceeds thereof; 

        (10) Liens
encumbering deposits made to secure obligations arising from statutory, regulatory, contractual, or warranty requirements of the Company or any of its Restricted
Subsidiaries, including rights of offset and set-off; 

        (11) Liens
securing Interest Swap Obligations which Interest Swap Obligations relate to Indebtedness that is otherwise permitted under this Indenture; 

        (12) Liens
securing Indebtedness under Currency Agreements that are permitted under this Indenture; 

        (13) Liens
securing Acquired Indebtedness incurred in accordance with Section 4.08;  provided that: 

        (a)   such
Liens secured such Acquired Indebtedness at the time of and prior to the incurrence of such Acquired Indebtedness by the Company or a Restricted Subsidiary of the
Company and were not granted in connection with, or in anticipation of, the incurrence of such Acquired Indebtedness by the Company or a Restricted Subsidiary of the Company; and 

  

        (b)   such
Liens do not extend to or cover any property or assets of the Company or of any of its Restricted Subsidiaries other than the property or assets that secured the
Acquired Indebtedness prior to the time such Indebtedness became Acquired Indebtedness of the Company or a Restricted Subsidiary of the Company and are no more favorable to the lien holders than those
securing the Acquired Indebtedness prior to the incurrence of such Acquired Indebtedness by the Company or a Restricted Subsidiary of the Company; 

        (14) Liens
existing as of the Issue Date and securing Indebtedness permitted to be outstanding under clause (3) of the definition of the term "Permitted
Indebtedness" to the extent and in the manner such Liens are in effect on the Issue Date; 

        (15) Liens
securing the Notes, this Indenture and the Guarantees; 

        (16) Liens
securing letters of credit permitted under clause (2) of the definition of the term "Permitted Indebtedness," provided, however, that such Lien is
only secured by cash or Cash Equivalents; 

        (17) Liens
securing Indebtedness of Foreign Restricted Subsidiaries to the extent such Indebtedness is permitted under clause (15) of the definition of the term
"Permitted Indebtedness"; provided, however, that no asset of the Company or any Domestic Restricted Subsidiary shall be subject to any such Lien; 

        (18) Liens
in favor of the Company or a Domestic Restricted Subsidiary of the Company; 

        (19) leases,
subleases, licenses and sublicenses granted to others that do not materially interfere with the ordinary course of business of the Company and its Restricted
Subsidiaries; 

        (20) banker's
Liens, rights of setoff and similar Liens with respect to cash and Cash Equivalents on deposit in one or more bank accounts in the ordinary course of business;
provided that such bank accounts are not cash collateral accounts; 

        (21) Liens
arising from the filing of Uniform Commercial Code financing statements regarding leases; 

        (22) Liens
securing obligations with respect to operating leases and guarantees thereof; provided that such Liens do not extend to or cover any property of the Company or
any of its Restricted Subsidiaries other than the property subject to such leases, any property or rights (including rights under subleases) relating to such leased property and the equity interests
of the lessee in any such lease; 

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

        (24) rights
of a licensor of intellectual property; 

        (25) Liens
arising out of conditional sale, title retention, consignment or similar arrangement for the sale of goods entered into by the Company or any of its Restricted
Subsidiaries in the ordinary course of business; 

        (26) Liens
incurred in the ordinary course of business of the Company or any Restricted Subsidiary of the Company with respect to Obligations that (a) are not
incurred in connection with the borrowing of money (other than trade credit in the ordinary course of business) and (b) do not in the aggregate materially detract from the value of the property
subject thereto; and 

        (27) Liens
securing Refinancing Indebtedness which is incurred to Refinance any Indebtedness which has been secured by a Lien permitted under this Indenture and which has
been incurred in accordance with Section 4.08 of this Indenture; provided, however, that such Liens: (i) are no less favorable to the Holders and are not more favorable to the lien
holders with respect to such Liens than the Liens in respect of the Indebtedness being Refinanced; and (ii) do not extend to or cover

 
any property or assets of the Company or any of its Restricted Subsidiaries not securing the Indebtedness so Refinanced. 

        "Person" means an individual, partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or
a governmental agency or political subdivision thereof. 

        "Physical Notes" has the meaning set forth in Section 2.01. 

        "Pledge Agreement" means the Pledge Agreement, dated as of the Issue Date, made by the Company and certain of the Guarantors in favor of
the Trustee, as amended or supplemented from time to time in accordance with its terms. 

        "Preferred Stock" of any Person means any Capital Stock of such Person that has preferential rights to any other Capital Stock of such
Person with respect to dividends or redemptions or upon liquidation. 

        "Premises" has the meaning set forth in Section 4.20. 

        "principal" of any Indebtedness (including the Notes) means the principal amount of such Indebtedness plus the premium, if any, on such
Indebtedness. 

        "Private Placement Legend" means the legend set forth on the 111/2% Initial Notes and the 9% Initial Notes in the forms set
forth in Exhibit A-1 and Exhibit A-2. 

        "pro forma" means, with respect to any calculation made or required to be made pursuant to the terms of this Indenture, a calculation made
in accordance with Article 11 of Regulation S-X under the Securities Act, as determined by the Board of Directors of the Company in consultation with its independent public
accountants. 

        "Purchase Money Indebtedness" means Indebtedness of the Company and its Restricted Subsidiaries incurred for the purpose of financing all
or any part of the purchase price, or the cost of design, development, installation, construction or improvement, of property or equipment. 

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

        "Qualified Capital Stock" means any Capital Stock that is not Disqualified Capital Stock. 

        "Record Date" means any of the Record Dates specified in the Notes, whether or not a Legal Holiday. 

        "Redemption Date" means, when used with respect to any Note to be redeemed, the price fixed for redemption pursuant to this
Indenture and the Notes. 

        "Redemption Price" means, when used with respect to any Note to be redeemed, the price fixed for redemption pursuant to this
Indenture and the Notes. 

        "Reference Date" has the meaning set forth in Section 4.10. 

        "Refinance" means, in respect of any security or Indebtedness, to refinance, extend, renew, refund, repay, prepay, redeem, defease or
retire, or to issue a security or Indebtedness in exchange or replacement for, such security or Indebtedness in whole or in part. "Refinanced" and
"Refinancing" shall have correlative meanings. 

        "Refinancing Indebtedness" means any Refinancing by the Company or any Restricted Subsidiary of the Company of Indebtedness incurred in
accordance with Section 4.08 (other than Permitted Indebtedness) or pursuant to clause (1), (3) or (13) of the definition of
Permitted Indebtedness, in each case that does not: 

        (1)   result
in an increase in the aggregate principal amount of Indebtedness of such Person as of the date of such proposed Refinancing (plus accrued interest on the
Indebtedness being Refinanced plus the amount of any premium required to be paid under the terms of the

 
instrument governing such Indebtedness and plus the amount of reasonable expenses incurred by the Company and its Restricted Subsidiaries in connection with such Refinancing); 

        (2)   create
Indebtedness with: (a) a Weighted Average Life to Maturity that is less than the Weighted Average Life to Maturity of the Indebtedness being Refinanced; or
(b) a final maturity earlier than the final maturity of the Indebtedness being Refinanced; provided that (x) if such Indebtedness being
Refinanced is Indebtedness of the Company, then such Refinancing Indebtedness shall be Indebtedness solely of the Company or a Guarantor and (y) if such Indebtedness being Refinanced is
subordinate or junior to the Notes, then such Refinancing Indebtedness shall be subordinate to the Notes at least to the same extent and in the same manner as the Indebtedness being Refinanced; 

        (3)   change
any of the respective obligors on such Refinancing Indebtedness; or 

        (4)   affect
the security, if any, for such Refinancing Indebtedness (except to the extent that less security is granted to holders of such Refinancing Indebtedness). 

        "Refinancing Transactions" means the acquisition and cancellation of the MFOC Notes pursuant to tender and exchange offers by the Company
to the holders of the MFOC Notes, the redemption of such notes and the repayment of other indebtedness of MFOC and TCBY in accordance with the amounts set forth in the "Use of Proceeds"
section of the Offering Circular dated March 9, 2004, in each case pursuant to transactions either closing on or prior to the Issue Date or pending on the Issue Date and thereafter
closing on the same terms as in effect at the Issue Date. 

        "Registrar" has the meaning set forth in Section 2.03. 

        "Registration Rights Agreements" means (i) the Registration Rights Agreement, dated as of the Issue Date, between the Issuers, the
Guarantors and the Initial Purchaser of the 111/2% Initial Notes, as the same may be amended or modified from time to time in accordance with its terms and (ii) the Registration
Rights Agreement, dated as of the Issue Date, by the Issuers and the Guarantors for the benefit of the holders of the 9% Initial Notes, as the same may be amended or modified from time to time in
accordance with its terms. 

        "Regulation S" means Regulation S under the Securities Act. 

        "Regulation S Global Notes" has the meaning set forth in Section 2.01. 

        "Released Interests" shall have the meaning set forth in Section 12.05. 

        "Replacement Assets" has the meaning set forth in Section 4.13. 

        "Restricted Payment" has the meaning set forth in Section 4.10. 

        "Restricted Security" has the meaning assigned to such term in Rule 144(a)(3) under the Securities Act;  provided that the Trustee shall be entitled to request and
conclusively rely on an Opinion of counsel with respect to whether any
Note constitutes a Restricted Security. 

        "Restricted Subsidiary" of any Person means any Subsidiary of such Person which at the time of determination is not an Unrestricted
Subsidiary. 

        "Rule 144A" means Rule 144A under the Securities Act. 

        "Sale and Leaseback Transaction" means any direct or indirect arrangement with any Person or to which any such Person is a party,
providing for the leasing to the Company or a Restricted Subsidiary of any property, whether owned by the Company or any Restricted Subsidiary at the Issue Date or later acquired, which has been or is
to be sold or transferred by the Company or such Restricted Subsidiary to such Person or to any other Person from whom funds have been or are to be advanced by such Person on the security of such
Property.

 

        "SEC" means the Securities and Exchange Commission. 

        "Secured Parties" has the meaning set forth in the Security Agreement. 

        "Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 

        "Security Agreement" means the Security Agreement, dated as of the Issue Date, made by the Company and the Guarantors in favor of the
Trustee, as amended or supplemented from time to time in accordance with its terms. 

        "Significant Subsidiary" with respect to any Person, means any Restricted Subsidiary of such Person that satisfies the criteria for a
"significant subsidiary" set forth in Rule 1.02(w) of Regulation S-X under the Exchange Act. 

        "S&P" means Standard & Poor's Ratings Group. 

        "Sublease" means the Sublease, dated as of the Issue Date, between the Company, as tenant, and MFOC, as subtenant, as the same may be
amended from time to time in accordance with its terms. 

        "Subsidiary" with respect to any Person, means: 

        (1)   any
corporation of which the outstanding Capital Stock having at least a majority of the votes entitled to be cast in the election of directors under ordinary
circumstances shall at the time be owned, directly or indirectly, by such Person or one or more Subsidiaries of such Person (or any combination thereof); or 

        (2)   any
other Person of which at least a majority of the voting interest under ordinary circumstances is at the time, directly or indirectly, owned by such Person or one or
more Subsidiaries of such Person (or any combination thereof). 

        "Surviving Entity" shall have the meaning set forth in Section 5.01. 

        "Tax Allocation Agreement" means the Tax Allocation Agreement, dated as of the Issue Date, among the Company, its direct and indirect
Subsidiaries (from time to time) and Parent, as the same may be amended from time to time in accordance with its terms. 

        "TCBY" means TCBY Systems, LLC, a Delaware limited liability company and a direct Wholly-Owned Subsidiary of the Company. 

        "TCBY Supply Agreement" means the Exclusive Supply Agreement, dated as of November 19, 2002, between TCBY and Americana Foods
Limited Partnership, a Texas limited partnership, as the same may be amended from time to time. 

        "TIA" means the Trust Indenture Act of 1939 (15 U.S.C. SS 77aaa-77bbbb) as amended, as in effect on the date of this
Indenture. 

        "Trademark Security Agreement" means the Trademark Security Agreement, dated as of the Issue Date, made by certain of the Guarantors in
favor of the Trustee, as amended or supplemented from time to time in accordance with its terms. 

        "Transaction Fees and Expenses" means the amount of amortization or write-off of deferred financing costs or debt issuance
costs and any premium or penalty paid or deemed paid by the Company in connection with the redemption or repayment of any Indebtedness of Parent or any of its Subsidiaries on the Issue Date (including
without limitation any charges and expenses incurred by the Company on or prior to the Issue Date in connection with (i) the issuance of the Notes, (ii) the transactions giving rise to
the formation of the Issuers and the transfer of certain assets on the Issue Date to the Company or its Subsidiaries, and (iii) the issuance on the Issue Date of securities by Parent or MFH,
net proceeds of which are contributed to the Company as common equity), in each case, to

 
the extent such amortization or write-off is permitted by GAAP and Regulation S-X under the Securities Act. 

        "Trigger Amount" means, as of any date of determination, the excess, if any, of $10.0 million over the sum of (x) the
aggregate amount of any Net Cash Proceeds that have not been applied as of such date of determination for the making of a Net Proceeds Offer and (y) the aggregate amount of any Excess Cash Flow
that has not been applied as of such date of determination for the making of an Excess Cash Flow Offer; provided that, in determining the Trigger Amount
at any time, the Board of Directors of the Company may make good faith adjustments to assure that there is no amount that is treated both as Net Cash Proceeds and Excess Cash Flow. 

        "Trust Officer" means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including
any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed
by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person's knowledge of and familiarity with the particular subject
and who shall have direct responsibility for the administration of this Indenture. 

        "Trustee" means the party named as such in this Indenture until a successor replaces it in accordance with the provisions of this
Indenture and thereafter means such successor. 

        "Unrestricted Subsidiary" of any Person means: 

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

        (2)   any
Subsidiary of an Unrestricted Subsidiary. 

        The
Board of Directors may designate any Subsidiary (including any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary owns any Capital
Stock of, or owns or holds any Lien on any property of, the Company or any other Subsidiary of the Company that is not a Subsidiary of the Subsidiary to be so designated,  provided that: 

        (1)   the
Issuers certify to the Trustee that such designation complies with Section 4.10; and 

        (2)   each
Subsidiary to be so designated and each of its Subsidiaries has not, at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or
otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Issuers or any of their Restricted Subsidiaries. 

        For
purposes of making the determination of whether any such designation of a Subsidiary as an Unrestricted Subsidiary complies with  Section 4.10, the portion of the Fair Market Value of the net assets
of such Subsidiary of the Issuers at the time that such Subsidiary is
designated as an Unrestricted Subsidiary that is represented by the interest of the Issuers and their Restricted Subsidiaries in such Subsidiary, in each case as determined in good faith by the Board
of Directors of the Company, or, if less, the amount of the value of the Investment in such Subsidiary when made, shall be deemed to be an Investment. Such designation will be permitted only if such
Investment would be permitted at such time under Section 4.10. 

        The
Board of Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary only if: 

        (1)   immediately
after giving effect to such designation, the Issuers are able to incur at least $1.00 of additional Indebtedness (other than Permitted Indebtedness) in
compliance with Section 4.08; and

 

        (2)   immediately
before and immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing. 

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

        "U.S. Government Obligations" means direct obligations of, and obligations guaranteed by, the United States of America for the payment of
which the full faith and credit of the United States of America is pledged. 

        "U.S. Legal Tender" means such coin or currency of the United States which, as at the time of payment, shall be immediately available
legal tender for the payment of public and private debts. 

        "U.S. Physical Notes" has the meaning set forth in Section 2.01. 

        "Valuation Date" shall have the meaning set forth in Section 12.05. 

        "Voting Stock" means, with respect to any Person, securities of any class or classes of Capital Stock in such Person entitling the holders
thereof (whether at all times or only so long as no senior class of stock has voting power by reason of any contingency) to vote in the election of members of the Board of Directors of such Person. 

        "Weighted Average Life to Maturity" means, when applied to any Indebtedness at any date, the number of years obtained by dividing
(a) the then outstanding aggregate principal amount of such Indebtedness into (b) the sum of the total of the products obtained by multiplying (i) the amount of each then
remaining installment, sinking fund, serial maturity or other required payment of principal, including payment at final maturity, in respect thereof, by (ii) the number of years
(calculated to the nearest one-twelfth) which will elapse between such date and the making of such payment. 

        "Wholly-Owned Subsidiary" of any Person means any Restricted Subsidiary of such Person of which all the outstanding Capital Stock (other
than in the case of a Foreign Restricted Subsidiary, directors' qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law) are owned by such
Person or any Wholly-Owned Subsidiary of such Person. 

        SECTION
1.02. Incorporation by Reference of Trust Indenture Act. 

        Whenever
this Indenture refers to a provision of the TIA, such provision is incorporated by reference in, and made a part of, this Indenture. The following TIA terms used in this
Indenture have the following meanings: 

        "indenture securities" means the Notes. 

        "indenture security holder" means a Holder. 

        "indenture to be qualified" means this Indenture. 

        "indenture trustee" or "institutional trustee" means the Trustee. 

        "obligor" on the indenture securities means each of the Issuers or any other obligor on the Notes. 

        All
other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule and not otherwise defined herein have the
meanings assigned to them therein. 

        SECTION
1.03. Rules of Construction. 

        Unless
the context otherwise requires: 

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

 

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

        (3)   "or"
is not exclusive; 

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

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

        (6)   when
the words "includes" or "including" are used herein, they shall be deemed to be followed by the words "without limitation"; 

        (7)   all
references to Sections or Articles refer to Sections or Articles of this Indenture unless otherwise indicated; and 

        (8)   unless
otherwise defined or the context otherwise requires, terms for which meanings are provided in this Indenture shall have such meanings when used in each other
Indenture Document. 

ARTICLE TWO

THE NOTES  

        SECTION 2.01. Form and Dating. 

        The
111/2% Initial Notes and the 111/2% Additional Notes and the Trustee's certificate of authentication thereon shall be substantially in the form of  Exhibit A-1 hereto. The 9% Initial Notes and the 9% Additional Notes and the Trustee's certificate of authentication thereon shall be
substantially in the form of Exhibit A-2 hereto. The 111/2% Exchange Notes and the Trustee's certificate of
authentication thereon shall be substantially in the form of Exhibit B-1 hereto. The 9% Exchange Notes and the Trustee's certificate
of authentication thereon shall be substantially in the form of Exhibit B-2 hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or DTC rule or usage. The Issuers and the Trustee shall approve the form of the Notes and any notation, legend or endorsement on them. Each
Note shall be dated the date of its authentication. 

        The
terms and provisions contained in the forms of the Notes annexed hereto as Exhibit A-1 and  Exhibit A-2 and Exhibit B-1 and  Exhibit B-2, shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Issuers,
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. 

        111/2%
Notes and 9% Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of one or more permanent global notes in registered form,
substantially in the form set forth in Exhibit A-1 and  Exhibit A-2, respectively (the "144A Global Notes"),
deposited with the Trustee, as custodian for DTC, duly executed by the Issuers and authenticated by the Trustee as hereinafter provided and shall bear the legend set forth in  Exhibit C. 

        111/2%
Notes and 9% Notes offered and sold in reliance on Rule 501(a)(1), (2), (3) or (7) under the Securities Act shall be issued initially in the
form of one or more permanent global notes registered form, substantially in the form set forth in Exhibit A-1 and  Exhibit A-2, respectively (the
"IAI Global Notes"), deposited with the Trustee, as
custodian for DTC, duly executed by the Issuers and authenticated by the Trustee as hereinafter provided and shall bear the legend set forth in  Exhibit C. 

        111/2%
Notes and 9% Notes offered and sold in offshore transactions in reliance on Regulation S shall be issued initially (i) in the form of one or more
global notes registered form, substantially in the form set forth in Exhibit A-1 and  A-2, respectively, ("Regulation S
Global Notes", and, together with the

 
144A Global Notes and IAI Global Notes, the "Global Notes") deposited with the Trustee, as custodian for DTC, duly executed by the Issuers and
authenticated by the Trustee as hereinafter provided and shall bear the legend set forth in Exhibit C or (ii) in the form of certificated
Notes in registered form set forth in Exhibit A-1 and Exhibit A-2
(the "Offshore Physical Notes"). 

        The
aggregate principal amount of any Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC, as
hereinafter provided. 

        111/2%
Notes and 9% Notes offered and sold in reliance on any exemption from registration under the Securities Act other than pursuant to Rule 144A or
Rule 501(a)(1), (2), (3) or (7) or Regulation S shall be issued, and 111/2% Notes and 9% Notes offered and sold in reliance on Rule 144A and
Rule 501(a)(1), (2), (3) or (7) may be issued, in the form of certificated Notes and Notes in registered form in substantially the form set forth in  Exhibit A-1 and Exhibit A-2, respectively, as applicable (the
"U.S. Physical Notes"). The Offshore Physical Notes and the U.S. Physical Notes are sometimes collectively herein referred to as the
"Physical Notes." 

        The
definitive Notes shall be typed, printed, lithographed or engraved or produced by any combination of these methods or may be produced in any other manner permitted by the rules of
any securities exchange on which the Notes may be listed, all as determined by the Officer executing such Notes, as evidenced by their execution of such Notes. 

        SECTION
2.02. Execution and Authentication; Aggregate Principal Amount. 

        An
Officer (who shall have been duly authorized by all requisite corporate actions) shall sign the Notes for each of the Issuers by manual or facsimile signature. 

        If
an Officer whose signature is on a Note was an Officer at the time of such execution but no longer holds that office or position at the time the Trustee authenticates the Note,
the Note shall nevertheless be valid. 

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

        The
Trustee shall authenticate (i) Initial Notes for original issue in the aggregate principal amount not to exceed $115,000,000, (ii) Exchange Notes from time to time for
issue only in exchange for a like principal amount of Initial Notes, and (iii) subject to compliance with Section 4.08, one or more series
of Additional Notes in an unlimited amount in each case upon written orders of the Issuers in the form of an Officers' Certificate, which Officers' Certificate shall, in the case of any issuance of
Additional Notes, certify that such issuance is in compliance with Section 4.08. In addition, each Officers' Certificate shall specify the amount
of Notes to be authenticated and the date on which the Notes are to be authenticated, whether the Notes are to be Initial Notes, Exchange Notes or Additional Notes, and shall further specify the
amount of such Notes to be issued as Global Notes, Offshore Physical Notes or U.S. Physical Notes. All Notes issued under this Indenture shall vote and consent together on all matters as one class and
no series of Notes shall have the right to vote or consent as a separate class on any matter. 

        The
Trustee may appoint an authenticating agent (the "Authenticating Agent") reasonably acceptable to the Issuers to authenticate Notes.
Unless otherwise provided in the appointment, 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 Authenticating Agent. An Authenticating Agent has the same rights as an Agent to deal with the Issuers and Affiliates of the Issuers.

 

        The
Notes shall be issuable in fully registered form only, without coupons, in denominations of $1,000 in principal amount and any integral multiple thereof. 

        SECTION
2.03. Registrar and Paying Agent. 

        Each
Issuer shall maintain an office or agency which shall initially be the office of the Trustee in the Borough of Manhattan, The City of New York, where (a) Notes may be
presented or surrendered for registration of transfer or for exchange (the "Registrar"), (b) Notes may be presented or surrendered for payment
(the "Paying Agent") and (c) notices and demands to or upon the Issuers in respect of the Notes and this Indenture may be served. The Registrar
shall keep a register of the Notes and of their transfer and exchange (the "Register"). The Issuers, upon prior written notice to the Trustee, may have
one or more co-Registrars and one or more additional Paying Agents reasonably acceptable to the Trustee. The term "Paying Agent" includes any additional Paying Agent. Neither the Issuers
nor any Affiliate of the Issuers may act as Paying Agent. 

        The
Issuers shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, which agreement shall incorporate the provisions of the TIA and implement the
provisions of this Indenture that relate to such Agent. The Issuers shall notify the Trustee in writing, in advance, of the name and address of any such Agent and otherwise be reasonably satisfactory
to the Trustee. If either Issuer fails to maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such. 

        The
Issuers initially appoint the Trustee as Registrar, Paying Agent and agent for service of demands and notices in connection with the Notes. The Paying Agent or Registrar may resign
upon thirty (30) days' written notice to the Issuers. 

        SECTION
2.04. Obligations of Paying Agent. 

        The
Issuers shall require each Paying Agent other than the Trustee to agree in writing that such Paying Agent shall hold separate and apart from, and not commingle with any other
properties, for the benefit of the Holders or the Trustee, all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to
it by the Issuers or any other obligor on the Notes), and the Issuers and the Paying Agent shall notify the Trustee in writing of any Default by the Issuers (or any other obligor on the Notes) in
making any such payment. The Issuers at any time may require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed and the Trustee may at any time
during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets
distributed. Upon receipt by the Trustee of all assets that shall have been delivered by the Issuers to the Paying Agent, the Paying Agent shall have no further liability for such assets. 

        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 the Holders and shall otherwise comply
with TIA Section 312(a). If the Trustee is not the Registrar, the Issuers shall furnish or cause the Registrar to
furnish to the Trustee before each Record Date and at such other times as the Trustee may request in writing a list as of such date and in such form as the Trustee may reasonably request of the names
and addresses of the Holders, which list may be conclusively relied upon by the Trustee. 

        SECTION
2.06. Transfer and Exchange. 

        Subject
to the provisions of Sections 2.14 and 2.15, when Notes are presented to
the Registrar or a co-Registrar with a request to register the transfer of such Notes or to exchange such Notes for an equal principal amount of Notes of other authorized denominations,
the Registrar or co-Registrar shall register the transfer or make the exchange as requested; provided,  however, that the Notes presented or

 
surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Issuers and the Registrar or
co-Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing and such other documents as the Registrar or Co-Registrar may reasonably require.
To permit registrations of transfers and exchanges, the Issuers shall issue and the Trustee shall authenticate Notes at the Registrar's or co-Registrar's request. No service charge shall
be made for any registration of transfer or exchange, but the Issuers or the Trustee 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 exchanges or transfers pursuant to  Section 2.10, 3.06, 4.11,  4.12 or 4.13, in which event the Issuers shall be responsible for the payment of such taxes).
 

        The
Registrar or co-Registrar shall not be required to register the transfer or exchange of any Note (i) during a period beginning at the opening of business
fifteen (15) days before the mailing of a notice of redemption of Notes and ending at the close of business on the day of such mailing and (ii) selected for redemption in whole or in
part pursuant to Article Three, except the unredeemed portion of any Note being redeemed in part. 

        Any
Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial interests in such Global Note may be effected only through DTC, in
accordance with this Indenture and the Applicable Procedures. 

        SECTION
2.07. Replacement Notes. 

        If
a mutilated Note is surrendered to the Trustee or if the Holder of a Note claims in writing that the Note has been lost, destroyed or wrongfully taken, then, in
the absence of written notice to the Issuers
upon their request or the Trustee that such Note has been acquired by a protected purchaser, the Issuers shall issue and the Trustee shall authenticate a replacement Note of like tenor
and principal amount and bearing a number not contemporaneously outstanding if the Trustee's requirements are met. Except with respect to mutilated Notes, if required by the Trustee or the Issuers,
such Holder must provide an affidavit of lost certificate and an indemnity bond or other indemnity, sufficient in the judgment of both the Issuers and the Trustee, to protect the Issuers, the Trustee
or any Agent from any loss which any of them may suffer if a Note is replaced. The Issuers may charge such Holder for its reasonable out-of-pocket expenses in replacing
a Note, including reasonable fees and expenses of its counsel and of the Trustee and its counsel. In case any mutilated, lost, destroyed or wrongfully taken Note has become or is about to
become due and payable, the Issuers in their discretion may pay such Note instead of issuing a new Note in replacement thereof. Every replacement Note shall constitute an
additional obligation of the Issuers, entitled to the benefits of this Indenture. 

        SECTION
2.08. Outstanding Notes. 

        Notes
outstanding at any time are all the Notes that have been authenticated by the Trustee except those cancelled by it, those delivered to it for cancellation and those described in
this Section 2.08 as not outstanding. Subject to the provisions of Section 2.09, a
Note does not cease to be outstanding because the Issuers or any of their Affiliates holds the Note. 

        If
a Note is replaced pursuant to Section 2.07 (other than a mutilated Note surrendered for replacement), it ceases
to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. A mutilated
Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.07. 

        If
on a Redemption Date or the Maturity Date the Paying Agent holds U.S. Legal Tender or U.S. Government Obligations sufficient to pay all of the principal and interest due on the Notes
payable on that date and is not prohibited from paying such money to the Holders thereof pursuant to the terms of this Indenture, then on and after that date such Notes cease to be outstanding and
interest on them ceases to accrue. 

   
        SECTION 2.09. Treasury Notes; When Notes Are Disregarded. 

        In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver, consent or notice, Notes owned by the Issuers or any of their
Affiliates shall be considered as though they are 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 which a Trust Officer of the Trustee actually knows are so owned shall be so considered. Notes so owned which have been pledged in good faith may be regarded as outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Notes and that the pledgee is not one of the Issuers or any other obligor upon the Notes or
any Affiliate of the Issuers or of such other obligor. The Issuers shall notify the Trustee, in writing (which notice shall constitute actual notice for purposes of the foregoing sentence), when it or
any of their Affiliates repurchases or otherwise acquires Notes, of the aggregate principal amount of such Notes so repurchased or otherwise acquired. 

        SECTION
2.10. Temporary Notes. 

        Until
definitive Notes are ready for delivery, the Issuers may prepare and execute and the Trustee shall authenticate temporary Notes upon receipt of a written order of the Issuers in
the form of an Officers' Certificate. The Officers' Certificate shall specify the amount of temporary Notes to be authenticated and the date on which the temporary Notes are to be authenticated.
Temporary Notes shall be substantially in the form of definitive Notes but may have variations that the Issuers consider appropriate for temporary Notes. Without unreasonable delay, the Issuers shall
prepare and the Trustee shall authenticate upon receipt of a written order of the Issuers pursuant to Section 2.02 definitive Notes in exchange
for temporary Notes. Until so exchanged, the temporary Notes shall be entitled to the same benefits under this Indenture as definitive Notes. 

        SECTION
2.11. Cancellation. 

        The
Issuers at any time may deliver Notes previously authenticated hereunder which the Issuers have acquired in any lawful manner, to the Trustee for cancellation. The Registrar and the
Paying Agent shall forward to the Trustee any Notes surrendered to them for 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 transfer, exchange, payment or cancellation. Subject to Section 2.07, the Issuers may not issue
new Notes to replace Notes that they have paid or delivered to the Trustee for cancellation. If the Issuers shall acquire any of the Notes, such acquisition shall not operate as a redemption or
satisfaction of the Indebtedness represented by such Notes unless and until the same are
surrendered to the Trustee for cancellation pursuant to this Section 2.11. The Trustee shall dispose of all cancelled Notes in accordance with
customary procedures or, at the written request of the Issuers, shall return the same to the Issuers. 

        SECTION
2.12. CUSIP Numbers. 

        A
"CUSIP" number shall be printed on the Notes, and the Trustee shall use the CUSIP number in notices of redemption, purchase or exchange
as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP
number printed in the notice or on the Notes and that reliance may be placed only on the other identification numbers printed on the Notes. The Issuers shall promptly notify the Trustee of any change
in the CUSIP number. 

        SECTION
2.13. Deposit of Moneys. 

        Prior
to 11:00 a.m. New York City time on each Interest Payment Date and the Maturity Date, the Issuers shall deposit with the Paying Agent U.S. Legal Tender sufficient to make
cash payments, if any, due on such Interest Payment Date or the Maturity Date, as the case may be.

 

        SECTION
2.14. Book-Entry Provisions for Global Notes. 

        (a)   The
Global Notes initially shall (i) be registered in the name of DTC or the nominee of DTC, (ii) be delivered to the Trustee as custodian for DTC and
(iii) bear legends as set forth in Exhibit C. 

        Members
of, or participants in, DTC ("Agent Members") shall have no rights under this Indenture with respect to any Global
Note held on their behalf by DTC, or the Trustee as its custodian, or under any Global Note, and DTC may be treated by the Issuers, the Trustee and any agent of the Issuers or the Trustee as
the absolute owner of the Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuers, the Trustee or any agent of the Issuers or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices governing
the exercise of the rights of a Holder of any Note. 

        (b)   Transfers
of the Global Notes shall be limited to transfers in whole, but not in part, to DTC, its successors or their respective nominees. Interests of beneficial
owners in the Global Notes may be transferred or exchanged in accordance with the Applicable Procedures of DTC and the provisions of  Section 2.15. In addition, Physical Notes shall be transferred
to all beneficial owners in exchange for their beneficial interests in the Global
Notes if (i) DTC notifies the Issuers that it is unwilling or unable to continue as Depository for the Global Notes and a successor Depository is not appointed by the Issuers within ninety
(90) days of such notice or (ii) an Event of Default has occurred and is continuing and the Registrar has received a request from DTC to issue Physical Notes. 

        (c)   Any
beneficial interest in one of the Global Notes that is transferred to a person who takes delivery in the form of an interest in another Global Note shall,
upon transfer, cease to be an interest in such Global Note and become a beneficial interest in such other Global Note and, accordingly, shall thereafter be subject to all transfer
restrictions, if any, and other procedures applicable to a beneficial interest in such other Global Notes for as long as it remains such an interest. 

        (d)   In
connection with any transfer or exchange of a portion of the beneficial interest in the Global Note to beneficial owners pursuant to  paragraph (b) of this Section 2.14, the Registrar shall (if one or more Physical Notes are
to be issued) reflect on its books and records the date and a decrease in the principal amount of the Global Note in an amount equal to the principal amount of the beneficial interest in the
Global Note to be transferred, and the Issuers shall execute, and the Trustee shall authenticate and deliver, one or more Physical Notes of like tenor and aggregate principal amount. 

        (e)   In
connection with the transfer of an entire Global Note to beneficial owners pursuant to paragraph (b) of
this Section 2.14, the Global Notes shall be deemed to be surrendered to the Trustee for cancellation, and the Issuers shall execute, and the
Trustee shall authenticate and deliver, to each beneficial owner identified by DTC in exchange for its beneficial interest in the Global Notes, an equal aggregate principal amount of Physical Notes of
authorized denominations. 

        (f)    Any
Physical Note constituting a Restricted Security delivered in exchange for an interest in the Global Note pursuant to  paragraph (b) or (c)
shall, except as otherwise provided by paragraphs
(a)(i)(x) and (c) of Section 2.15, bear the legend regarding transfer
restrictions applicable to the Physical Notes set forth in Exhibits A-1 and A-2. 

        (g)   The
Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent
Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

        SECTION
2.15. Special Transfer Provisions. 

        (a)   Transfers to Non-QIB Institutional Accredited Investors and Non-U.S. Persons. The following
provisions shall apply with respect to the registration of any proposed transfer of a Note constituting a

 
Restricted Security to any Institutional Accredited Investor which is not a QIB or to any Non-U.S. Person: 

        (i)    the
Registrar shall register the transfer of any Note constituting a Restricted Security, whether or not such Note bears the Private Placement Legend, if
(x) the requested transfer is after March 16, 2006 or (y) (1) in the case of a transfer to an Institutional Accredited Investor which is not a QIB (excluding
Non-U.S. Persons), the proposed transferee has delivered to the Registrar a certificate substantially in the form of Exhibit D hereto
or (2) in the case of a transfer to a Non-U.S. Person, the proposed transferor has delivered to the Registrar a certificate substantially in the form of  Exhibit E hereto; and 

        (ii)   if
the proposed transferor is an Agent Member holding a beneficial interest in the Global Note, upon receipt by the Registrar of (x) the certificate, if any,
required by paragraph (i) above and (y) instructions given in accordance with the Applicable Procedures and the Registrar's procedures, 

whereupon
(1) the Registrar shall reflect on its books and records the date and (if the transfer does not involve a transfer of outstanding Physical Notes) a decrease in the principal amount of
the Global Note in an amount equal to the principal amount of the beneficial interest in the Global Note to be transferred, and (2) the Issuers shall execute and the Trustee shall
authenticate and deliver one or more Physical Notes of like tenor and principal amount. 

        (b)   Transfers to QIBs. The following provisions shall apply with respect to the registration of any proposed transfer of a
Note constituting a Restricted Security to a QIB (excluding transfers to Non-U.S. Persons): 

        (i)    the
Registrar shall register the transfer if such transfer is being made by a proposed transferor who has checked the box provided for on the form of
Note stating, or has otherwise advised the Issuers and the Registrar in writing, that the sale has been made in compliance with the provisions of Rule 144A to a transferee who has signed
the certification provided for on the form of Note stating, or has otherwise advised the Issuers and the Registrar in writing, that it is purchasing the Note for its own account or an
account with respect to which it exercises sole investment discretion and that it and any such account is a QIB within the meaning of Rule 144A, and is aware that the sale to it is being made
in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuers as it has requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; and 

        (ii)   if
the proposed transferee is an Agent Member, and the Notes to be transferred consist of Physical Notes which after transfer are to be evidenced by an interest in the
Global Note, upon receipt by the Registrar of instructions given in accordance with the Applicable Procedures and the Registrar's procedures, the Registrar shall reflect on its books and records the
date and an increase in the principal amount of the Global Note in an amount equal to the principal amount of the Physical Notes to be transferred, and the Trustee shall cancel the Physical
Notes so transferred. 

        (c)   Private Placement Legend. Upon the transfer, exchange or replacement of Notes not bearing the Private Placement Legend,
the Registrar shall deliver Notes that do not bear the Private Placement Legend. Upon the transfer, exchange or replacement of Notes bearing the Private Placement Legend, the Registrar shall deliver
only Notes that bear the Private Placement Legend unless (i) the circumstance contemplated by paragraph (a)(i)(x) of this  Section 2.15
exists or (ii) there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Issuers and the
Trustee to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance with the provisions of the Securities Act. The Registrar shall not
register a transfer of any

 
Note unless such transfer complies with the restrictions on transfer of such Note set forth in this Indenture. In connection with any transfer of Notes, each Holder agrees by its
acceptance of the Notes to furnish the Registrar or the Issuers such certifications, legal opinions or other information as either of them may reasonably require to confirm that such transfer is being
made pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act; provided that the Registrar
shall not be required to determine (but may rely on a determination made by the Issuers with respect to) the sufficiency of any such certifications, legal opinions or other information. 

        (d)   General. By its acceptance of any Note bearing the Private Placement Legend, each Holder of such a
Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the Private Placement Legend and agrees that it shall transfer such Note only as
provided in this Indenture. 

        The
Registrar shall retain copies of all letters, notices and other written communications received pursuant to Section 2.14 or
this Section 2.15. The Issuers shall have the right to inspect and make copies of all such letters, notices or other written communications at
any reasonable time upon the giving of reasonable written notice to the Registrar. 

        The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with
respect to any transfer of any interest in any Note (including any transfers between or among Agent Members or beneficial owners of interests in any Global Note) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

        Neither
the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by DTC. 

        SECTION
2.16. Transfers of Global Notes and Physical Notes. A transfer of a Global Note or a Physical Note (including the
right to receive principal and interest payable thereon) may be made only by the Registrar's entering the transfer in the Register. Prior to such entry, the Issuers shall treat the person in whose
name such Note is registered as the owner of the Note for all purposes. 

ARTICLE THREE

REDEMPTION  

        SECTION 3.01. Optional Redemption. 

        The
Issuers may, at their option, redeem the Notes, in whole or in part, at specified times and under specified conditions, as set forth in Paragraph 6 of the Notes. If the
Issuers elect to redeem Notes pursuant to Paragraph 6 of the Notes, they shall, at least forty-five (45) days (or such shorter period as the Trustee may agree) before the
Redemption Date, furnish to the Trustee and Paying Agent an Officers' Certificate setting forth the Redemption Date and the principal amount of the Notes to be redeemed and the clause of this
Indenture or the Notes pursuant to which the redemption shall occur. 

        Each
Officers' Certificate provided for in this Section 3.01 shall be accompanied by an Opinion of Counsel stating that such
redemption shall comply with the conditions contained herein and in the Notes.

 

        SECTION
3.02. Selection of Notes to be Redeemed

        If
fewer than all of the Notes are to be redeemed pursuant to Paragraph 6 of the Notes, the Trustee shall select the Notes to be redeemed: 

        (1)   in
compliance with the requirements of the principal national securities exchange, if any, on which such Notes are listed or 

        (2)   if
such Notes are not then listed on a national securities exchange, by lot; provided that no partial redemption will
reduce the principal amount of a Note not redeemed to less than $1,000; and provided, further,
that if a partial redemption is made with the proceeds of an Equity Offering then the selection of the Notes or portions thereof for redemption shall be made by the Trustee only on a  pro rata basis or
on as nearly a pro rata basis as is practicable (subject to the procedures of DTC),
unless such method is prohibited. 

        The
Trustee shall make the selection from the Notes outstanding and not previously called for redemption and shall promptly notify the Issuers in writing of the Notes selected for
redemption and, in the case of any Note selected for partial redemption, the principal amount at maturity thereof, to be redeemed. Notes in denominations of $1,000 in principal amount at
maturity may be redeemed only in whole. The Trustee may select for redemption portions (equal to $1,000 in principal amount at maturity or any integral multiple thereof) of the principal of Notes that
have denominations larger than $1,000. 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. 

        At
least thirty (30) days but not more than sixty (60) days before a Redemption Date, the Issuers shall mail or cause to be mailed a notice of redemption by first class
mail, postage prepaid, to each Holder whose Notes are to be redeemed at its registered address, with a copy to the Trustee and any Paying Agent. At the Issuers' written request, the Trustee shall give
the notice of redemption in the Issuers' name and at the Issuers' expense. Failure to give notice of redemption, or any defect therein to any Holder of any Note selected for redemption shall
not impair or affect the validity of the redemption of any other Note. 

        Each
notice of redemption shall identify the Notes to be redeemed and shall state: 

        (1)   the
Redemption Date; 

        (2)   the
Redemption Price and the amount of accrued interest, if any, to be paid; 

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

        (4)   the
CUSIP number; 

        (5)   the
subparagraph of the Notes pursuant to which such redemption is being made; 

        (6)   the
place where such Notes called for redemption must be surrendered to the Paying Agent to collect the Redemption Price plus accrued interest, if any; 

        (7)   that,
unless the Issuers fail to deposit with the Paying Agent funds in satisfaction of the applicable redemption price, interest on Notes called for redemption ceases
to accrue on and after the Redemption Date in accordance with Section 3.05, and the only remaining right of the Holders of such Notes is to
receive payment of the Redemption Price plus accrued interest, if any, upon surrender to the Paying Agent of the Notes redeemed; 

        (8)   if
any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the Redemption Date, and upon
surrender of such Note, a

 
new Note or Notes in the aggregate principal amount equal to the unredeemed portion thereof shall be issued; and 

        (9)   if
fewer than all the Notes are to be redeemed, the identification of the particular Notes (or portion thereof) to be redeemed, as well as the aggregate principal amount
of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption. 

        If
any of the Notes to be redeemed is in the form of a Global Note, then the Issuers shall modify such notice to the extent necessary to accord with the procedures of DTC applicable to
redemption. 

        SECTION
3.04. Effect of Notice of Redemption. 

        Once
notice of redemption is mailed in accordance with Section 3.03, Notes or portions thereof called for redemption shall become
irrevocably due and payable on the Redemption Date and at the Redemption Price plus accrued interest, if any. Upon surrender to the Trustee or Paying Agent, such Notes or portions thereof called for
redemption shall be paid at the Redemption Price plus accrued
interest thereon to the Redemption Date, but installments of interest, the maturity of which is on or prior to the Redemption Date, shall be payable to Holders of record at the close of business on
the relevant Record Dates referred to in the Notes. 

        SECTION
3.05. Deposit of Redemption Price. 

        Not
later than 10:00 a.m. local time in the place of payment on the Redemption Date, the Issuers shall deposit with the Paying Agent U.S. Legal Tender sufficient to pay the
Redemption Price plus accrued interest, if any, of all Notes or portions thereof to be redeemed on that date. 

        The
Paying Agent shall promptly return to the Issuers any U.S. Legal Tender so deposited which is not required for that purpose, except with respect to monies owed as obligations to the
Trustee pursuant to Article Seven. 

        If
the Issuers comply with the preceding paragraph, then, unless the Issuers default in the payment of such Redemption Price plus accrued interest, if any, interest on the Notes to be
redeemed shall cease to accrue on and after the applicable Redemption Date, whether or not such Notes are presented for payment. 

        SECTION
3.06. Notes Redeemed in Part. 

        Upon
surrender of a Note that is to be redeemed in part, the Company shall issue and the Trustee shall authenticate for the Holder at the expense of the Company a new
Note or Notes equal in principal amount to the unredeemed portion of the Note surrendered. 

ARTICLE FOUR

COVENANTS  

        SECTION 4.01. Payment of Notes. 

        The
Issuers shall pay the principal of, or premium, if any, or interest on the Notes on the dates and in the manner provided in the Notes and in this Indenture. An installment of
principal of, or premium, if any, or interest on the Notes shall be considered paid on the date it is due if the Trustee or Paying Agent (other than the Issuers or an Affiliate of the Issuers) holds
on that date U.S. Legal Tender designated for and sufficient to pay the installment in full. 

        Notwithstanding
anything to the contrary contained in this Indenture, the Issuers may, to the extent they are required to do so by law, deduct or withhold income or other similar taxes
imposed by the United States from principal or interest payments hereunder.

 

        SECTION
4.02. Maintenance of Office or Agency. 

        The
Issuers shall maintain the office or agency required under Section 2.03. The Issuers shall give prior written notice to the
Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuers shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office and the Issuers hereby appoint the Trustee as their agent to
receive all such presentations, surrenders, notices and demands. 

        SECTION
4.03. Corporate Existence. 

        Except
as otherwise permitted by Article Four, Article Five and  Article Ten, the Issuers shall do or
cause to be done, at their own cost and expense, all things necessary to preserve and keep in full force and
effect their limited liability company or corporate existence and the limited liability company or corporate existence of each of the Restricted Subsidiaries in accordance with the respective
organizational documents of the Issuers and of each such Restricted Subsidiary and the material rights (charter and statutory) and franchises of the Issuers and each such Restricted Subsidiary;  provided,
 however, that the Issuers shall not be required to preserve, with respect to themselves, any
material right or franchise and, with respect to any of the Restricted Subsidiaries, any such existence, material right or franchise, if the Boards of Directors of the Issuers, shall determine in good
faith that the preservation thereof is no longer desirable in the conduct of the business of the Issuers and their Restricted Subsidiaries, taken as a whole. 

        SECTION
4.04. Payment of Taxes and Other Claims. 

        The
Issuers shall pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (i) except to the extent such payment or discharge is duplicative of
the Company's or any of its Subsidiaries' obligations under the Tax Allocation Agreement, all material taxes, assessments and governmental charges (including withholding taxes and any penalties,
interest and additions to taxes) levied or imposed upon them or any of the Restricted Subsidiaries or their properties or any of the Restricted Subsidiaries' properties and (ii) all material
lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon their properties or any of their Restricted
Subsidiaries' properties; provided, however, that the Issuers 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 or shall be contested in good faith by appropriate proceedings properly
instituted and diligently conducted for which adequate reserves, to the extent required under GAAP, have been taken. 

        SECTION
4.05. Maintenance of Properties and Insurance. 

        (a)   The
Issuers shall, and shall cause each of the Domestic Restricted Subsidiaries to, maintain in good working order and condition in all material respects (subject to
ordinary wear and tear) their properties that are used or useful in the conduct of their business and that are material to the conduct of such business, and make all necessary repairs, renewals,
replacements, additions, betterments and improvements thereto and actively conduct and carry on their business; provided,  however, that nothing in this
Section 4.05 shall prevent the Issuers or any of the Domestic
Restricted Subsidiaries from discontinuing the operation and maintenance of any of their properties if such discontinuance is, in the good faith judgment of the Board of Directors or other governing
body of the Issuers or the Domestic Restricted Subsidiary concerned, as the case may be, desirable in the conduct of their businesses and is not disadvantageous in any material respect to the Holders. 

        (b)   The
Issuers shall maintain insurance (including appropriate self-insurance) against loss or damage of the kinds that, in the good faith judgment of the
Issuers, are adequate and appropriate for the conduct of the business of the Issuers and the Domestic Restricted Subsidiaries in a prudent manner, with reputable insurers or with the government of the
United States or an agency or

 
instrumentality thereof, in such amounts, with such deductibles, and by such methods as shall be customary, in the good faith judgment of the Issuers, for companies similarly situated in the industry. 

        SECTION
4.06. Compliance Certificate; Notice of Default. 

        (a)   The
Issuers shall deliver to the Trustee, within ninety (90) days after the end of the Company's fiscal year, an Officers' Certificate stating that a review of
the activities of the Issuers and their Restricted Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers (one of whom is the principal executive
officer, principal financial officer or principal accounting officer) with a view to determining whether they have kept, observed, performed and fulfilled their obligations under this Indenture and
the other Indenture Documents and further stating, as to each such Officer signing such certificate, that to the best of such Officer's actual knowledge the Issuers and their Restricted Subsidiaries
during such preceding fiscal year have kept, observed, performed and fulfilled each and every condition and covenant under this Indenture and the other Indenture Documents in all material respects and
at the date of such certificate there is no Default or Event of Default that has occurred and is continuing or, if such signers do know of such Default or Event of Default, the certificate shall
describe the Default or Event of Default and its status with particularity. 

        (b)   So
long as not contrary to the then current recommendations of the American Institute of Certified Public Accountants, the annual financial statements delivered pursuant
to Section 4.23 shall be accompanied by a written report of the Issuers' independent accountants (who shall be a firm of established national
reputation) that in conducting their audit of such financial statements nothing has come to their attention that would lead them to believe that the Issuers has violated any provisions of  Article Four or Article Five insofar as they relate to accounting matters or, if they
believe that any such violation has occurred, specifying the nature and period of existence thereof, it being understood that such accountants shall not be liable directly or indirectly to any Person
for any failure to obtain knowledge of any such violation. 

        (c)   The
Issuers shall, so long as any Notes are outstanding, upon any Officer of the Issuers becoming aware of any Default or Event of Default, deliver to the Trustee an
Officers' Certificate specifying such Default or Event of Default within five (5) Business Days of such Officer becoming aware of such occurrence. 

        SECTION
4.07. Waiver of Stay, Extension or Usury Laws. 

        The
Issuers covenant (to the extent that it may lawfully do so) that they shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of,
any stay or extension law or any usury law or other law that would prohibit or forgive the Issuers from paying all or any portion of the principal of, premium, if any, or interest on the Notes as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that they may lawfully do so)
the Issuers hereby expressly waive all benefit or advantage of any such law, and covenant that they shall not, by resort to any such law, hinder, delay or impede the execution of any power herein
granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

        SECTION
4.08. Limitation on Incurrence of Additional Indebtedness. 

        The
Issuers will not, and will not permit any of their Restricted Subsidiaries to, directly or indirectly, create, incur, assume, guarantee, acquire, become liable, contingently or
otherwise, with respect to, or otherwise become responsible for payment of (collectively, "incur") any Indebtedness (other than Permitted Indebtedness);  provided, however, that if no Default or Event of Default shall have occurred and be continuing at the
time of or as a consequence of the incurrence of any such Indebtedness, the Issuers or any of their Restricted Subsidiaries that is or, upon such incurrence, becomes a Guarantor may incur Indebtedness
(including, without limitation, Acquired Indebtedness) if

 
on the date of the incurrence of such Indebtedness the Consolidated Fixed Charge Coverage Ratio of the Company will be, after giving effect to the incurrence thereof and the application of the
proceeds thereof, greater than 2.0 to 1.0. 

        SECTION
4.09. Limitation on Sale and Leaseback Transactions. 

        The
Issuers will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction with respect to any of their or such Restricted Subsidiary's
property unless (1) the Issuers or such Restricted Subsidiary would be entitled to (a) incur Indebtedness in an amount equal to the Attributable Debt with respect to such Sale and
Leaseback Transaction pursuant to Section 4.08 and (b) create a Lien on such property securing such Attributable Debt pursuant to  Section 4.16, and (2) the Sale and Leaseback Transaction is treated as an Asset Sale and the Issuers apply the proceeds of such
transaction in compliance with Section 4.13. 

        SECTION
4.10. Limitation on Restricted Payments. 

        (a)   The
Issuers will not, and will not cause or permit any of their Restricted Subsidiaries to, directly or indirectly: 

        (1)   declare
or pay any dividend or make any distribution on or in respect of shares of Capital Stock of the Issuers or their Restricted Subsidiaries to holders of such
Capital Stock, other than (i) dividends or distributions payable in Qualified Capital Stock of the Issuers, (ii) dividends and distributions payable to the Issuers or another Restricted
Subsidiary of the Issuers that is a Guarantor and (iii) pro rata dividends or distributions payable by a Restricted Subsidiary of the Issuers
that is not a Wholly-Owned Subsidiary of the Issuers to minority holders of Capital Stock of such Restricted Subsidiary; 

        (2)   purchase,
redeem or otherwise acquire or retire for value any Capital Stock of the Issuers other than in exchange for Qualified Capital Stock of the Issuers or their
Restricted Subsidiaries or any warrants, rights or options to purchase or acquire shares of any class of such Capital Stock; 

        (3)   make
any principal payment on, purchase, defease, redeem, prepay or otherwise acquire or retire for value, prior to any scheduled final maturity, scheduled repayment or
scheduled sinking fund payment, any Indebtedness of the Issuers or any Guarantor that is subordinate or junior in right of payment to the Notes or a Guarantee; or 

        (4)   make
any Investment (other than Permitted Investments), 

(each
of the foregoing actions set forth in clauses (1), (2),  (3) and (4) being referred to as a "Restricted
Payment"); if at the time of such Restricted Payment or immediately after giving effect thereto, 

        (i)    a
Default or an Event of Default shall have occurred and be continuing; or 

        (ii)   the
Company is not able to incur at least $1.00 of additional Indebtedness (other than Permitted Indebtedness) in compliance with  Section 4.08; or 

        (iii)  the
aggregate amount of Restricted Payments (including such proposed Restricted Payment) made subsequent to the Issue Date (the amount expended for such purposes, if
other than in cash, being the Fair Market Value of such property as determined in good faith by the Board of Directors of the Company at the time of the making thereof) shall exceed the sum of: 

        (u)   50%
of the cumulative Consolidated Net Income (or if cumulative Consolidated Net Income is a deficit, 100% of such Consolidated Net Income) of the Company earned during
the period subsequent to the Issue Date and ending on the last day of the Company's most recent fiscal month occurring prior to the date the Restricted Payment occurs (the
"Reference Date") (treating such period as a single accounting period); plus

  

        (v)   100%
of the aggregate net cash proceeds received by the Company from any Person (other than a Restricted Subsidiary of the Company) from the issuance and sale subsequent
to the Issue Date and on or prior to the Reference Date of Qualified Capital Stock of the Company; plus

        (w)  100%
of the aggregate net cash proceeds received by the Company or any of its Restricted Subsidiaries subsequent to the Issue Date and on or prior to the Reference Date
from the issuance and sale of Indebtedness (including Disqualified Capital Stock of the Company) that has been converted into or exchanged for Qualified Capital Stock of the Company together with the
aggregate cash received by the Company or such Restricted Subsidiary at the time of such conversion or exchange and the amount of any accrued interest then outstanding on any Indebtedness that is paid
in Qualified Capital Stock of the Company; plus

        (x)   without
duplication of any amounts included in clause (iii)(v) above, 100% of the aggregate net cash proceeds of
any equity contribution received by the Company from a holder of the Company's Capital Stock (other than a Restricted Subsidiary of the Company) subsequent to the Issue Date and on or prior to the
Reference Date; plus

        (y)   the
sum of (1) without duplication of any amounts included in Consolidated Net Income in clause (iii)(u)
above, the aggregate amount paid in cash or Cash Equivalents to the Company or a Restricted Subsidiary of the Company on or with respect to Investments (other than Permitted Investments) made
subsequent to the Issue Date whether through interest payments, principal payments, dividends or other distributions or payments, (2) the net cash proceeds received by the Company or any of its
Restricted Subsidiaries from the disposition of all or any portion of such Investments (other than to a Restricted Subsidiary of the Company) and (3) upon redesignation of an Unrestricted
Subsidiary as a Restricted Subsidiary, the fair market value of such Subsidiary; provided, however, that
the sum of clauses (1), (2) and (3) above shall not
exceed the aggregate amount of all such Investments made subsequent to the Issue Date. 

In
the case of clauses (iii)(v) and (w) above, any net cash proceeds from issuances and sales of
Qualified Capital Stock of the Company financed directly or indirectly using funds borrowed from the Company or any Subsidiary of the Company, shall be excluded until and to the extent such borrowing
is repaid. 

        Notwithstanding
the provisions set forth in Section 4.10(a), within 120 days following the completion of MFOC's fiscal year
2006 (the "MFOC Cutoff Date"), the Company shall obtain from MFOC a cash flow analysis (the "MFOC Cash Flow
Analysis") of MFOC's operations over the period covered by its fiscal years 2004, 2005 and 2006 (the "MFOC Covered
Period") and projected operations thereafter to the extent set forth below, as certified by the Chief Financial Officer of MFOC. The MFOC Cash Flow Analysis shall be prepared
for MFOC on a stand-alone basis in accordance with GAAP, except that (i) it will not consolidate the cash flows of the Company and its Subsidiaries or include any dividends or other payments
made by the Company (or, for the period prior to the Issue Date, deemed to have been made up to but not exceeding $3.5 million) to MFOC over the MFOC Covered Period and (ii) the present
value of MFOC's projected net future cash flow stream following the end of fiscal year 2006 shall be determined using an 8% per annum discount rate and such present value shall be deducted from the
net cash flow for the MFOC Covered Period as otherwise determined. To the extent that the MFOC Cash Flow Analysis show positive net cash flow for MFOC over the MFOC Covered Period, the amount that
would otherwise be available to be paid under the foregoing provision following the MFOC Cutoff Date shall be reduced by the amount of such positive net cash flow, but such reduction shall have no
effect on any payments previously paid in compliance with the foregoing provision.

 

        (b)   Notwithstanding
the provisions of Section 4.10(a), the provisions set forth in  Section 4.10(a) do not prohibit: 

        (1)   the
payment of any dividend or other distribution or redemption within 60 days after the date of declaration of such dividend or call for redemption if such
payment would have been permitted on the date of declaration or call for redemption; 

        (2)   the
repurchase, redemption or other acquisition or retirement of any shares of Qualified Capital Stock of the Company, either (i) solely in exchange for other
shares of Qualified Capital Stock of the Company or (ii) if no Default or Event of Default shall have occurred and be continuing or would exist after giving effect thereto, through the
application of net proceeds of a substantially concurrent sale for cash (other than to a Restricted Subsidiary of the Company) of shares of Qualified Capital Stock of the Company; 

        (3)   the
repurchase, retirement, redemption or other repayment or acquisition of any Indebtedness of the Company or the Guarantors that is subordinate or junior in right of
payment to the Notes and Guarantees either (i) solely in exchange for shares of Qualified Capital Stock of the Company, or (ii) if no Default or Event of Default shall have occurred and
be continuing or would exist after giving effect thereto, through the application of net proceeds of a substantially concurrent sale for cash (other than to a Restricted Subsidiary of the Company) of
(a) shares of Qualified Capital Stock of the Company or (b) Refinancing Indebtedness; 

        (4)   if
no Default or Event of Default shall have occurred and be continuing or would exist after giving effect thereto, an Investment through the application of the net
proceeds of a substantially concurrent sale for cash (other than to a Restricted Subsidiary of the Company) of shares of Qualified Capital Stock of the Company; 

        (5)   if
no Default or Event of Default shall have occurred and be continuing or would exist after giving effect thereto, a Restricted Payment to pay for the repurchase or
other acquisition of shares of Capital Stock of the Company or any direct or indirect parent company of the Company from officers, former officers, employees, former employees, directors or former
directors of the Company or any of its Subsidiaries (or permitted transferees of such officers, former officers, employees, former employees, directors or former directors) pursuant to the terms of
any agreements (including employment agreements) or plans (or amendments thereto) under which such Capital Stock was issued; provided,  however, that the
aggregate amount of such repurchases and other acquisitions shall not exceed $1.0 million in any fiscal year, plus up to
$500,000 of any unused amount permitted under this clause (5) for the immediately preceding year; 

        (6)   if
no Default or Event of Default shall have occurred and be continuing or would exist after giving effect thereto, payments or distributions to dissenting stockholders
of Capital Stock of the Company pursuant to applicable law, pursuant to or in connection with a consolidation, merger or transfer of assets that complies with the provisions of this Indenture
applicable to mergers, consolidations and transfers of all or substantially all of the property and assets of the Company or any of its Restricted Subsidiaries; 

        (7)   if
MFOC, immediately prior to such payment, is not in default of any of its payment obligations under the Management Agreement or the Sublease and if no Default or Event
of Default shall have occurred and be continuing or would exist after giving effect thereto and so long as the condition described in clause (iii) of the first sentence of  Section 4.10(a)
shall have been satisfied after giving effect thereto, within 60 days following the completion of an Excess Cash Flow
Offer, the declaration and payment of dividends in an amount not to exceed the lesser of (i) that portion of the Excess Cash Flow Amount not needed to purchase Notes properly tendered pursuant
to such Excess Cash Flow Offer, (ii) the amount specified by the Company in the disclosure documents provided to Holders in connection with such Excess Cash Flow Offer as

 
to be available to be dividended by it in the event that any portion of the Excess Cash Flow Amount shall not be needed to purchase Notes properly tendered pursuant to such Excess Cash Flow Offer
(which amount shall be so specified in such disclosure documents and shall not, in any event, exceed the Excess Cash Flow Amount) and (iii) the aggregate amount of dividends that could then be
paid in accordance with clause (iii) of Section 4.10(a) without regard to compliance with  clause (ii) of Section 4.10(a); 

        (8)   if
MFOC, immediately prior to such payment, is not in default of any of its payment obligations under the Management Agreement or the Sublease and if no Default or Event
of Default shall have
occurred and be continuing or would exist after giving effect thereto and so long as the condition described in clause (iii) of  Section 4.10(a)
shall have been satisfied after giving effect thereto, within 60 days following the completion of a Net Proceeds Offer,
the declaration and payment of dividends in an amount not to exceed the lesser of (i) that portion of the Net Proceeds Offer Amount not needed to purchase Notes properly tendered pursuant to
such Net Proceeds Offer, (ii) the amount specified by the Company in the disclosure documents provided to Holders in connection with such Net Proceeds Offer as to be available to be dividended
by it in the event that any portion of the Net Proceeds Offer Amount shall not be needed to purchase Notes properly tendered pursuant to such Net Proceeds Offer (which amount shall be so specified in
such disclosure documents and shall not, in any event, exceed the Net Proceeds Offer Amount) and (iii) the aggregate amount of dividends that could then be paid in accordance with
clause (iii) of Section 4.10(a) without regard to compliance with clause (ii) of  Section 4.10(a); 

        (9)   if
MFOC, immediately prior to such payment, is not in default of any of its payment obligations under the Management Agreement or the Sublease and no Default or Event of
Default shall have occurred or be continuing, the declaration and payment of dividends in an aggregate amount not to exceed $5,000,000; 

        (10) if
MFOC, immediately prior to such payment, is not in default of any of its payment obligations under the Management Agreement or the Sublease and no Default or Event
of Default shall have occurred or be continuing or would exist after giving effect thereto, the payment of dividends in an amount needed by MFOC, MFH and Parent to pay (i) reasonable and
customary fees payable to members of the Board of Directors of MFOC, MFH and/or Parent, and (ii) reasonable and customary legal, accounting and administrative fees and expenses incurred by
MFOC, MFH and/or Parent, which amounts paid pursuant to this clause (10) shall not exceed $250,000 in the aggregate in any consecutive
twelve-month period; 

        (11) the
payment to Parent or MFOC of the Company's and its Restricted Subsidiaries' reasonable allocable share, as determined in good faith by the Board of Directors of the
Company, of (i) any premiums or similar payments payable by Parent or MFOC to the extent necessary to maintain health, disability and similar employee benefit plans for the benefit of the
officers, directors and employees of the Company and its Restricted Subsidiaries, and (ii) any insurance premiums or similar payments payable by Parent to the extent necessary to maintain
insurance against loss or damage of assets of the Company and/or any of its Restricted Subsidiaries (and with respect to which the Company and its Restricted Subsidiaries are named insureds) of the
kinds that, in the good faith judgment of the Board of Directors of the Company, are adequate and appropriate for the conduct of the business of the Company and its Restricted Subsidiaries; and 

        (12) the
Refinancing Transactions. 

        For
purposes of determining compliance with this Section 4.10, in the event that an item meets the criteria of more than one of the
categories described in clauses (1) through (12) above, the Issuers shall, in their sole discretion,
classify (or later reclassify) such item in any manner that complies with this covenant. In determining the aggregate amount of Restricted Payments made subsequent to the

 
Issue Date in accordance with clause (iii) of Section 4.10(a), amounts expended pursuant
to clauses (1), 2(ii), 3(ii)(a),  (4), (5), (6),  (7) and (8) above shall be included in such calculation.

        For
purposes of this Section 4.10, the term "Restricted Payment" shall be deemed to include (i) any payment to be made to
Larry A. Hodges on or after the Issue Date relating to the cancellation, exchange or other disposition of any of his shares of common stock of Parent or options (whether or not exercised prior to the
stated expiry date thereof) to purchase shares of common stock of Parent, except to the extent that such payment is made pursuant to, and in accordance with, the terms of that Separation Agreement,
dated as of August 15, 2003, by and among Larry A. Hodges, Parent and MFOC and the Severance Assumption Agreement to be entered into by and among Larry A. Hodges, Parent, MFOC and the Company,
in each case as in effect on the Issue Date, and (ii) any payment made by the Company or its Subsidiaries under the Tax Allocation Agreement, provided that all payments under the Tax Allocation
Agreement shall be permitted except that, to the extent that such payments exceed the consolidated federal income taxes (including estimated taxes) payable in respect of Parent's consolidated federal
income tax group, such payments (including for these purposes amounts previously accrued but not previously paid by reason of such limitation) may only be made while the ratio of "Net Indebtedness" to
"Consolidated EBITDA" is less than 3.75:1.0 and the Company otherwise is in compliance with the terms of this Indenture. 

        Not
later than the date of making any Restricted Payment pursuant to clause (iii) of  Section 4.10(a) or clause (6)
 of this  Section 4.10(b), the Issuers shall deliver to the Trustee an Officers' Certificate stating that such Restricted Payment complies with this
Indenture and setting forth in reasonable detail the basis upon which the required calculations were computed, which calculations may be based upon the Company's latest available internal monthly or
quarterly, as the case may be, financial statements. 

        Not
later than the date of any payment by the Issuers or their Subsidiaries under the Tax Allocation Agreement, the Issuers shall deliver to the Trustee a certificate of an officer of
the Issuers to the effect that, to the best of such officer's knowledge and belief, such payment complies in all material respects with this Indenture and the Tax Allocation Agreement. 

        SECTION
4.11. Repurchase Upon Change of Control. 

        (a)   Upon
the occurrence of a Change of Control, the Issuers shall make an offer to purchase all outstanding Notes pursuant to the requirements described in  clause (b) below (the "Change of Control Offer") at a purchase price equal to 101% of the
principal amount thereof on the date of purchase plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase. 

        (b)   Within
thirty (30) days following the date upon which the Change of Control occurred, the Issuers shall send, by first class mail, postage prepaid, a notice to
each record Holder as shown on the register of Holders, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. The notice to the Holders shall contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Change of Control Offer. Such notice shall state: 

        (1)   that
the Change of Control Offer is being made pursuant to this Section 4.11 and that, to the extent lawful, all
Notes tendered and not withdrawn shall be accepted for payment; 

        (2)   the
purchase price (including the amount of accrued interest, if any) and the purchase date (which shall be no earlier than thirty (30) days nor later than sixty
(60) days from the date such notice is mailed, other than as may be required by law) (the "Change of Control Payment Date"); 

        (3)   that
any Note not tendered shall continue to accrue interest;

 

        (4)   that,
unless the Issuers default in making payment therefor, any Note accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after
the Change of Control Payment Date; 

        (5)   that
Holders electing to have a Note purchased pursuant to a Change of Control Offer shall be required to surrender the Note, with the form entitled "Option of
Holder to Elect Purchase" on the reverse of the Note completed, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day prior to the
Change of Control Payment Date; 

        (6)   that
Holders shall be entitled to withdraw their election if the Paying Agent receives, not later than five (5) Business Days prior to the Change of Control
Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Notes the Holder delivered for purchase and a statement that such
Holder is withdrawing its election to have such Notes purchased; 

        (7)   that
Holders whose Notes are purchased only in part shall be issued new Notes in a principal amount equal to the unpurchased portion of the Notes surrendered;  provided that each Note purchased and each
new Note issued shall be in an original principal amount of $1,000 or integral multiples
thereof; and 

        (8)   the
circumstances and relevant facts regarding such Change of Control. 

        If
any of the Notes subject to the Change of Control Offer is in the form of a Global Note, then the Issuers shall modify such notice to the extent necessary to comply with the
procedures of the Depositary applicable to repurchases. 

        On
or before the Change of Control Payment Date, the Issuers shall, to the extent lawful (i) accept for payment Notes or portions thereof properly tendered pursuant to the Change
of Control Offer, (ii) deposit with the Paying Agent U.S. Legal Tender sufficient to pay the purchase price plus accrued interest, if any, of all Notes or portions thereof so tendered and
(iii) deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officers' Certificate stating the aggregate principal amount of Notes or portions thereof being
purchased by the Issuers. The Paying Agent shall promptly mail to the Holders of Notes so tendered the purchase price for such Notes and the Issuers shall promptly issue and the Trustee shall promptly
(but in any case not later than five days after the Change of Control Payment Date) authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in
principal amount to any unpurchased portion of the Notes surrendered; provided that each such new Note shall be in a principal amount of $1,000
or an integral multiple thereof. Any Notes not so accepted shall be promptly mailed by the Issuers to the Holders thereof. For purposes of this  Section 4.11, the Trustee shall act as the Paying
Agent. 

        Any
amounts remaining after the purchase of Notes pursuant to a Change of Control Offer shall be returned by the Trustee to the Issuers. 

        Neither
the Board of Directors of the Company nor the Trustee may waive the Issuers' obligation to offer to purchase the Notes pursuant to this  Section 4.11. 

        The
Issuers shall not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise
in compliance with the requirements of this Section 4.11 and purchases all Notes validly tendered and not withdrawn under such Change of Control
Offer. 

        The
Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws
and regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent the provisions of any securities laws or regulations conflict with the
provisions under this Section 4.11, the

 
Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations under this  Section 4.11 by virtue thereof. 

        SECTION
4.12. Excess Cash Flow Offer. 

        Not
later than April 30th following any fiscal year in which there was Excess Cash Flow (an "Excess Cash Flow Offer Trigger Date"),
the Issuers will make an offer to purchase from all Holders on a pro rata basis (the "Excess Cash Flow
Offer") on a date (the "Excess Cash Flow Offer Payment Date") not less than 30 nor more than 45 days following the
applicable Excess Cash Flow Offer Trigger Date, the aggregate principal amount of Notes that may be purchased with 50% of Excess Cash Flow (reduced by the Issuers' estimated expenses in making the
Excess Cash Flow Offer, as determined in good faith by the Company's Board of Directors) (after giving effect to such reduction for expenses, each an "Excess Cash Flow Offer
Amount") at a price equal to 100% of the aggregate principal amount of the Notes to be purchased, plus accrued and unpaid interest and Additional Interest, if any, to the date
of purchase. 

        The
Issuers may at their election make an Excess Cash Flow Offer prior to being obligated to do so and may defer any Excess Cash Flow Offer until the sum of: 

        (1)   the
cumulative Excess Cash Flow Offer Amount resulting from Excess Cash Flow from one or more fiscal years that has not been applied pursuant to the immediately
preceding paragraph, and 

        (2)   the
aggregate Net Proceeds Offer Amount resulting from one or more Asset Sales that has not been applied pursuant to  Section 4.13, 

is
equal to or in excess of $10.0 million, in which case the accumulation of such amount shall constitute an Excess Cash Flow Offer Trigger Date (at which time, the entire unutilized Trigger
Amount, and not just the amount in excess of $10.0 million, shall be applied as required pursuant to the immediately preceding paragraph). 

        To
the extent that the aggregate principal amount of Notes tendered pursuant to such Excess Cash Flow Offer is less than the Excess Cash Flow Amount (or, in the event the Issuers elect
to defer the Excess Cash Flow Offer pursuant to the immediately preceding paragraph, the Trigger Amount), such deficiency shall be deemed to have been applied and the Issuers and their Restricted
Subsidiaries may use such deficiency for general corporate purposes or declare and pay a dividend in the amount of such deficiency to MFOC in accordance with the provisions of  clause (7) of
Section 4.10(b). Upon completion of such Excess Cash Flow Offer, the Excess
Cash Flow Offer Amount will be reset to zero (or, in the event the Issuers elect to defer the Excess Cash Flow Offer pursuant to the immediately preceding paragraph, upon completion of such Excess
Cash Flow Offer, the Excess Cash Flow Amount and Net Proceeds Amount under Section 4.13 will each be reset to zero). 

        Each
notice of an Excess Cash Flow Offer shall be mailed to the record Holders as shown on the register of Holders within 25 days following the Excess Cash Flow Offer Trigger
Date, with a copy to the Trustee, and shall comply with the procedures set forth in this Indenture. Upon receiving notice of the Excess Cash Flow Offer, Holders may elect to tender their Notes in
whole or in part in integral multiples of $1,000 in exchange for cash. To the extent Holders properly tender Notes in an amount exceeding the Excess Cash Flow Offer Amount, Notes of tendering Holders
will be purchased on a pro rata basis (based on amounts tendered and with such adjustments as may be reasonably deemed appropriate by the Issuers so
that only Notes in denominations of $1,000 or multiples thereof shall be purchased). An Excess Cash Flow Offer shall remain open for a period of 20 business days or such longer period as may be
required by law. If only a portion of a Note is purchased pursuant to an Excess Cash Flow Offer, a new Note in a principal amount equal to the portion thereof not purchased will be
issued in the name of the Holder thereof upon cancellation of the original Note (or appropriate

 
adjustments to the amount and beneficial interests in a Global Note will made). Notes (or portions thereof) purchased pursuant to an Excess Cash Flow Offer will be cancelled and cannot be
reissued. 

        The
Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws
and regulations are applicable in connection with the repurchase of Notes pursuant to an Excess Cash Flow Offer. To the extent the provisions of any securities laws or regulations conflict with the
provisions under this Section 4.12, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached their obligations under this Section 4.12 by virtue thereof 

        SECTION
4.13. Limitation on Asset Sales. 

        The
Issuers will not, and will not permit any of their Restricted Subsidiaries to, consummate an Asset Sale unless: 

        (1)   the
Issuers or the applicable Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value of
the assets sold or otherwise disposed of (as determined in good faith by the Company's Board of Directors); 

        (2)   at
least 75% of the consideration received by the Issuers or the Restricted Subsidiary, as the case may be, from such Asset Sale shall be in the form of cash or Cash
Equivalents and is received at the time of such disposition; provided that (a) the amount of any Indebtedness or other liabilities of the Issuers
or such Restricted Subsidiary (other than Indebtedness or liabilities that are by their terms subordinated to the Notes) that are assumed by the transferee of any such assets so long as the documents
governing such liabilities provide that there is no further recourse to the Issuers or any of their Subsidiaries with respect to such liabilities and (b) the Fair Market Value of any marketable
securities, currencies, notes or other obligations received by the Issuers or any such Restricted Subsidiary in exchange for any such assets that are converted into cash or Cash Equivalents within
180 days after the consummation of such Asset Sale shall be deemed to be cash for purposes of this provision; and 

        (3)   upon
the consummation of an Asset Sale, the Issuers shall apply, or cause such Restricted Subsidiary to apply, the Net Cash Proceeds relating to such Asset Sale within
360 days of receipt thereof: 

        (a)   (i) in
the case where the property or asset that was the subject of such Asset Sale does not constitute Collateral, to repay Indebtedness secured by a Lien of the
type described in clause (7), (14) or (17) of the definition of the term "Permitted Lien," (ii) in the case where the property or asset that was the subject of such Asset
Sale is the property or asset of a Foreign Restricted Subsidiary, to repay Indebtedness of any Foreign Restricted Subsidiary or (iii) a combination of the foregoing  clauses (i) and (ii); 

        (b)   to
make an investment in properties and assets that replace the properties and assets that were the subject of such Asset Sale or in any other properties and assets that
will be used, or Capital Stock of a Person engaged, in the business of the Issuers and their Restricted Subsidiaries as existing on the Issue Date or in businesses reasonably related thereto
("Replacement Assets"); or 

        (c)   a
combination of prepayment and investment permitted by the foregoing clauses (3)(a) and  (3)(b). 

        On
the 361st day after an Asset Sale (a "Net Proceeds Offer Trigger Date"), such aggregate amount of Net Cash Proceeds which have not been
applied on or before such Net Proceeds Offer Trigger Date as permitted in clauses (3)(a), (3)(b) and  (3)(c)
of the preceding paragraph (after giving effect to reduction for the estimated expenses of such Issuer or Restricted Subsidiary in making the Net
Proceeds Offer, as determined in good faith by the Company's Board of Directors, each a "Net

 
Proceeds Offer Amount") shall be applied by the Issuers or such Restricted Subsidiary to make an offer to purchase (the "Net Proceeds
Offer") on a date (the "Net Proceeds Offer Payment Date") not less than 30 nor more than 45 days following the applicable
Net Proceeds Offer Trigger Date, from all Holders on a pro rata basis, that amount of Notes equal to the Net Proceeds Offer Amount at a price equal to
100% of the aggregate principal amount of the Notes to be purchased, plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase;  provided, however, that if at any time any non-cash consideration received by the Issuers or
any Restricted Subsidiary of the Issuers, as the case may be, in connection with any Asset Sale is converted into or sold or otherwise disposed of for cash (other than interest received with respect
to any such non-cash consideration), then such conversion or disposition shall be deemed to constitute an Asset Sale hereunder on the date of such conversion or disposition, as the case
may be, and the Net Cash Proceeds thereof shall be applied in accordance with this covenant. 

        The
Issuers may at their election make a Net Proceeds Offer prior to being obligated to do so and may defer any Net Proceeds Offer until the sum of: 

        (1)   the
aggregate Net Proceeds Offer Amount resulting from one or more Asset Sales that has not been applied pursuant to the immediately preceding paragraph, and 

        (2)   the
cumulative Excess Cash Flow Offer Amount resulting from Excess Cash Flow from one or more fiscal years that has not been applied pursuant to the first
paragraph of Section 4.12. 

is
equal to or in excess of $10.0 million, in which case the accumulation of such amount shall constitute a Net Proceeds Offer Trigger Date (at which time, the entire unutilized Trigger Amount,
and not just the amount in excess of $10.0 million, shall be applied as required pursuant to the immediately preceding paragraph). 

        To
the extent that the aggregate principal amount of Notes tendered pursuant to such Net Proceeds Offer is less than the Net Proceeds Amount (or, in the event the Issuers elect to defer
the Net Proceeds Offer pursuant to the immediately preceding paragraph, the Trigger Amount), such deficiency shall be deemed to have been applied and the Issuers and their Restricted Subsidiaries may
use such deficiency for general corporate purposes or declare and pay a dividend in the amount of such deficiency to MFOC in accordance with the provisions of clause (8) of  Section 4.10(b). Upon completion of such Net Proceeds Offer, the Net Proceeds Offer Amount will be reset to zero (or, in the event the
Issuers elect to defer the Net Proceeds Offer pursuant to the immediately preceding paragraph, upon completion of such Net Proceeds Offer, the Net Proceeds Amount and Excess Cash Flow Amount under  Section 4.12 will each be reset to zero). 

        In
the event of the transfer of substantially all (but not all) of the property and assets of the Company and their Restricted Subsidiaries as an entirety to a Person in a transaction
permitted under Section 5.01, which transaction does not constitute a Change of Control, the successor corporation shall be deemed to have sold
the properties and assets of the Company and their Restricted Subsidiaries not so transferred for purposes of this covenant, and shall comply with the provisions of this  Section 4.13 with respect
to such deemed sale as if it constituted an Asset Sale. In addition, the Fair Market Value of such properties and
assets of the Company or its Restricted Subsidiaries deemed to be sold shall be deemed to be Net Cash Proceeds for purposes of this covenant. 

        Notwithstanding
anything to the contrary contained in this covenant, the Issuers and their Restricted Subsidiaries will be permitted to consummate an Asset Sale without complying with
such paragraphs to the extent that: 

        (1)   the
consideration for such Asset Sale constitutes Replacement Assets; and 

        (2)   such
Asset Sale is for Fair Market Value; provided that any consideration not constituting Replacement Assets received by
the Issuers or any of their Restricted Subsidiaries in connection

 
with any Asset Sale permitted to be consummated under this paragraph shall constitute Net Cash Proceeds subject to the provisions of the preceding paragraph. 

        Each
notice of a Net Proceeds Offer shall be mailed to the record Holders as shown on the register of Holders within 25 days following the Net Proceeds Offer Trigger Date, with a
copy to the Trustee, and shall comply with the procedures set forth in this Indenture. Upon receiving notice of the Net Proceeds Offer, Holders may elect to tender their Notes in whole or in part in
integral multiples of $1,000 in exchange for cash. To the extent Holders properly tender Notes in an amount exceeding the Net Proceeds Offer Amount, Notes of tendering Holders will be purchased on a  pro rata basis (based on amounts tendered and with such adjustments as may be reasonably deemed appropriate by the Issuers so that only Notes in
denominations of $1,000 or multiples thereof shall be purchased). A Net Proceeds Offer shall remain open for a period of 20 business days or such longer period as may be required by law. If
only a portion of a Note is purchased pursuant to a Net Proceeds Offer, a new Note in a principal amount equal to the portion thereof not purchased will be issued in the name of the
Holder thereof upon cancellation of the original Note (or appropriate adjustments to the amount and beneficial interests in a Global Note will made). Notes (or portions thereof)
purchased pursuant to a Net Proceeds Offer will be cancelled and cannot be reissued. 

        The
Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws
and regulations are applicable in connection with the repurchase of Notes pursuant to a Net Proceeds Offer. To the extent the provisions of any securities laws or regulations conflict with the
provisions under this Section 4.13, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached their obligations under this Section 4.13 by virtue thereof. 

        SECTION
4.14. Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

        The
Issuers will not, and will not cause or permit any of their Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or permit to exist or become effective any
encumbrance or restriction on the ability of any Restricted Subsidiary of the Issuers to: 

        (1)   pay
dividends or make any other distributions on or in respect of their Capital Stock; 

        (2)   make
loans or advances or to pay any Indebtedness or other obligation owed to the Issuers or any other Restricted Subsidiary of the Issuers; or 

        (3)   transfer
any of their property or assets to the Issuers or any other Restricted Subsidiary of the Issuers, 

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

        (a)   applicable
law; 

        (b)   this
Indenture, the Notes, the Guarantees and the Collateral Agreements; 

        (c)   in
the case of clause (3) above, (A) agreements or instruments that restrict in a customary manner the
subletting, assignment or transfer of any property or asset that is a lease, license, conveyance or contract or similar property or asset, (B) any transfer of, agreement to transfer, option or
right with respect to, or Lien on, any property or assets of the Issuers or any Restricted Subsidiary not otherwise prohibited by this Indenture or (C) provisions arising or agreed to in the
ordinary course of business not relating to Indebtedness that do not, individually or in the aggregate, detract from the value of property or assets of the Issuers or any of their Restricted
Subsidiaries or the ability of the Issuers or such Restricted Subsidiary, as the case may be, to use such property or assets, in each case in any manner material to the Issuers or any of their
Restricted Subsidiaries;

 

        (d)   any
agreement or instrument governing Acquired Indebtedness, which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person,
other than the Person or the properties or assets of the Person so acquired; 

        (e)   agreements
or instruments existing on the Issue Date to the extent and in the manner such agreements are in effect on the Issue Date; 

        (f)    provisions
in agreements or instruments that prohibit the payment of dividends or the making of other distributions with respect to any Capital Stock of a Person other
than on a pro rata basis; 

        (g)   restrictions
on the transfer of assets subject to any Lien permitted under this Indenture imposed by the holder of such Lien; 

        (h)   restrictions
imposed by any agreement to sell assets or Capital Stock permitted under this Indenture to any Person pending the closing of such sale; 

        (i)    provisions
in joint venture agreements and other similar agreements (in each case relating solely to the respective joint venture or similar entity or the equity
interests therein) entered into in the ordinary course of business; 

        (j)    restrictions
contained in the terms of the Purchase Money Indebtedness or Capitalized Lease Obligations not incurred in violation of this Indenture;  provided that such restrictions relate only to the property
financed with such Indebtedness; 

        (k)   restrictions
in other Indebtedness incurred in compliance with Section 4.08;  provided that such restrictions, taken as a whole, are, in the good faith judgment of
the Company's Board of Directors, no more materially restrictive
with respect to such encumbrances and restrictions than those contained in the existing agreements referenced in clauses (b),  (e) and (f) above; 

        (l)    restrictions
on cash or other deposits imposed by customers under contracts or other arrangements entered into or agreed to in the ordinary course of business; 

        (m)  restrictions
on the ability of any Foreign Restricted Subsidiary to make dividends or other distributions resulting from the operation of covenants contained in
documentation governing Indebtedness of such Subsidiary permitted under this Indenture; and 

        (n)   an
agreement governing Indebtedness incurred to Refinance the Indebtedness issued, assumed or incurred pursuant to an agreement referred to in  clause (b), (d) or (e) above;  provided, however, that the provisions relating to such encumbrance or restriction
contained in any such
Indebtedness are no less favorable to the Issuers in any material respect as determined by the Board of Directors of the Company in its reasonable and good faith judgment than the provisions relating
to such encumbrance or restriction contained in agreements referred to in such clause (b), (d) or  (e).

        Nothing
contained in this Section 4.14 shall prevent the Issuers or any of their Restricted Subsidiaries from creating, incurring,
assuming or suffering to exist any Liens otherwise permitted in Section 4.16. 

        SECTION
4.15. Limitation on Issuances and Sales of Capital Stock of Subsidiaries. 

        The
Issuers will not permit or cause any of their Restricted Subsidiaries to issue or sell any Capital Stock except: 

        (1)   to
the Issuers or a Wholly-Owned Restricted Subsidiary of the Issuers; 

        (2)   issuances
of directors' qualifying shares or sales to foreign nationals of shares of Capital Stock of Foreign Restricted Subsidiaries to the extent required by
applicable law; 

  

        (3)   issuances
or sales of shares of Common Stock of Restricted Subsidiaries to the extent required, as determined in good faith by the Board of Directors of the Company, to
obtain or maintain any governmental license, privilege or other right that is necessary or useful in connection with the conduct by such Restricted Subsidiary of its business; 

        (4)   if,
immediately after giving effect to such issuance or sale, such Restricted Subsidiary would no longer constitute a Restricted Subsidiary and any Investment in such
Person remaining after giving effect to such issuance or sale would have been permitted to be made under Section 4.10 if made on the date of such
issuance or sale; or 

        (5)   sales
of all of the Capital Stock of a Restricted Subsidiary of the Issuers in compliance with the provisions of  Section 4.13. 

        SECTION
4.16. Limitation on Liens. 

        The
Issuers will not, and will not cause or permit any of their Restricted Subsidiaries to, directly or indirectly, create, incur, assume or permit or suffer to exist any Liens (other
than Permitted Liens) of any kind against or upon any property or assets of the Issuers or any of their Restricted Subsidiaries whether owned on the Issue Date or acquired after the Issue Date, or any
proceeds therefrom, or assign or otherwise convey any right to receive income or profits therefrom. 

        SECTION
4.17. Limitations on Transactions with Affiliates. 

        (a)   The
Issuers will not, and will not permit any of their Restricted Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction or series of
related transactions (including, without limitation, the purchase, sale, lease or exchange of any property or the rendering of any service) with, or for the benefit of, any of their Affiliates (each
an "Affiliate Transaction"), other than (x) Affiliate Transactions permitted under paragraph (b) below and (y) Affiliate
Transactions on terms that are no less favorable than those that might reasonably have been obtained in a comparable transaction at such time on an arm's-length basis from a Person that is not an
Affiliate of the Issuers or such Restricted Subsidiary. 

        All
Affiliate Transactions (and each series of related Affiliate Transactions which are similar or part of a common plan) involving aggregate payments or other property with a Fair
Market Value in excess of $2.5 million shall be approved by a majority of the disinterested members of the Board of Directors of the Issuers or a majority of the disinterested members, if any,
of the Board of Directors of such Restricted Subsidiary (or, the entire Board of Directors, in the event there are no disinterested members of the Board of Directors of such Restricted Subsidiary), as
the case may be, such approval to be evidenced by a Board Resolution stating that such Board of Directors has determined that such transaction complies with the provisions set in this paragraph. If
the Issuers or any Restricted Subsidiary of the Issuers enters into an Affiliate Transaction (or a series of related Affiliate Transactions related to a common plan) that involves an aggregate Fair
Market Value of more than $10.0 million, the Issuers or such Restricted Subsidiary, as the case may be, shall, prior to the consummation thereof, obtain a favorable opinion as to the fairness
of such transaction or series of related transactions to the Issuers or the relevant Restricted Subsidiary, as the case may be, from a financial point of view, from an Independent Financial Advisor
and file the same with the Trustee. 

        (b)   The
restrictions set forth in the first paragraph of this Section 4.17 shall not apply to: 

        (1)   reasonable
fees and compensation paid to and indemnity provided on behalf of officers, directors, employees or consultants of the Issuers or any Restricted Subsidiary of
the Issuers as determined in good faith by the Company's Board of Directors or senior management; 

        (2)   transactions
exclusively between or among the Issuers and any of their Restricted Subsidiaries or exclusively between or among such Restricted Subsidiaries;

 

        (3)   the
Refinancing Transactions or any agreement as in effect on the Issue Date (including any transaction expressly provided for therein) and any amendment thereto or any
replacement agreement thereto so long as (i) any such amendment or replacement agreement is not more disadvantageous to the Holders, in any material respect, than the original agreement as in
effect on the Issue Date, provided that this clause (i) shall not apply to any amendment or
replacement agreement in respect of the TCBY Supply Agreement, and (ii) any such amendment or replacement agreement shall be approved by a majority of the disinterested members of the Board of
Directors of the Company or such Restricted Subsidiary, as the case may be, such approval to be evidenced by a Board Resolution stating that such Board of Directors has determined that the terms of
such amendment or replacement agreement comply with the provisions set forth in clause (a) of this Section 4.17
(provided that no fairness opinion need be delivered under such clause in the case where such amendment or replacement agreement is in respect of the
TCBY Supply Agreement) and Section 4.10 and the terms of this clause (3); 

        (4)   Restricted
Payments permitted by this Indenture and Affiliate Transactions that constitute Permitted Investments; 

        (5)   any
employment, stock option, stock repurchase, employee benefit compensation, business expense reimbursement, severance, termination or other employment related
agreements, arrangements or plans entered into by the Issuers or any of their Restricted Subsidiaries in the ordinary course of business; 

        (6)   payments
pursuant to or other transactions expressly provided for under the Contribution Agreement, the Management Agreement, the Contribution Agreement, the Tax
Allocation Agreement, the MFOC Franchise Agreements, the TCBY Supply Agreement, the Sublease or the Collection Agency Agreement, in each case as in effect on the Issue Date, or any amendment thereto
or any replacement agreement thereto so long as (i) any such amendment or replacement agreement is not more disadvantageous to the Holders, in any material respect, than the original agreement
as in effect on the Issue Date, and (ii) any such amendment or replacement agreement shall be approved by a majority of the disinterested members of the Board of Directors of the Issuers or
such Restricted Subsidiary, as the case may be, such approval to be evidenced by a Board Resolution stating that such Board of Directors has determined that the terms of such amendment or replacement
agreement comply with the provisions set forth in clause (a) of this Section 4.17 and  Section 4.10 and the terms of this clause (6); 

        (7)   issuance
of Qualified Capital Stock of the Company and the granting of registration rights with respect to such Qualified Capital Stock;  provided such registration rights are permitted under the Registration
Rights Agreements; 

        (8)   any
transaction on arm's-length terms with a non-Affiliate that becomes an Affiliate as a result of such transaction; and 

        (9)   arrangements
with directors or officers of the Company or any Restricted Subsidiary existing on the Issue Date as disclosed in the Offering Circular and in effect on the
Issue Date or as modified thereafter; provided that any such modification shall be approved by a majority of the disinterested members of the Board of
Directors of the Company or such Restricted Subsidiary, as the case may be, such approval to be evidenced by a Board Resolution stating that such Board of Directors has determined that the terms of
such modification comply with the provisions set forth in the first paragraph of this Section 4.17. 

        SECTION
4.18. Additional Subsidiary Guarantees. 

        If
either of the Issuers or any of their Restricted Subsidiaries transfers or causes to be transferred, in one transaction or a series of related transactions, any property to any Person
that is not a Guarantor but becomes a Domestic Restricted Subsidiary as a result of such transaction, or if the

 
Issuers or any of their Restricted Subsidiaries shall organize, acquire or otherwise invest in another Person that is not a Guarantor but becomes a Domestic Restricted Subsidiary as a result of such
transaction, then such transferee or acquired or other Subsidiary (other than an Immaterial Subsidiary) shall: 

        (1)   execute
and deliver to the Trustee a supplemental indenture in form reasonably satisfactory to the Trustee pursuant to which such Domestic Restricted Subsidiary shall
unconditionally guarantee on a senior secured basis all of the Issuers' obligations under the Notes and this Indenture on the terms set forth herein; 

        (2)   (a) execute
and deliver to the Trustee such amendments to the Collateral Agreements as the Trustee reasonably determines to be necessary or advisable in order to
grant to the Trustee, for the benefit of the Holders, a perfected security interest in the Capital Stock of such new Domestic Restricted Subsidiary and any debt securities of such new Domestic
Restricted Subsidiary, subject to Permitted Liens, which are owned by the Issuers or such new Domestic Restricted Subsidiary and required to be pledged pursuant to the Security Agreement or the Pledge
Agreement, (b) deliver to the Trustee any certificates representing such Capital Stock and debt securities, together with (i) in the case of such Capital Stock, undated stock powers or
instruments of transfer, as applicable, endorsed in blank, and (ii) in the case of such debt securities, endorsed in blank, in each case executed and delivered by an Officer of such Issuer or
such Subsidiary, as the case may be; 

        (3)   cause
such new Domestic Restricted Subsidiary to take such other actions necessary or as the Trustee reasonably determines to be advisable to grant to the Trustee for
the benefit of the Holders a perfected security interest in the assets of such new Domestic Restricted Subsidiary to the extent required pursuant to the terms of the Collateral Agreements, subject to
the Permitted Liens, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Security Agreement or by law or as may be reasonably requested
by the Trustee; 

        (4)   take
such further action and execute and deliver such other documents specified in this Indenture to effectuate the foregoing; and 

        (5)   deliver
to the Trustee an Opinion of Counsel that such supplemental indenture and any other documents required to be delivered have been duly authorized, executed and
delivered by such Domestic Restricted Subsidiary and constitutes a legal, valid, binding and enforceable obligation of such Domestic Restricted Subsidiary and such other opinions regarding the
perfection of such Liens in the
Collateral of or consisting of the Capital Stock of such Domestic Restricted Subsidiary as provided for in this Indenture. 

Thereafter,
such Domestic Restricted Subsidiary shall be a Guarantor for all purposes of this Indenture. 

        SECTION
4.19. Impairment of Security Interest. 

        Neither
the Issuers nor any of their Subsidiaries will take or knowingly omit to take any action which would materially impair the Liens in favor of the Trustee and the Holders, with
respect to any material portion of the Collateral. Neither the Issuers nor any of their Domestic Restricted Subsidiaries shall grant to any Person (other than the Trustee), or permit any Person (other
than the Trustee) to retain, any interest whatsoever in the Collateral other than Permitted Liens. Neither the Issuers nor any of their Restricted Subsidiaries will enter into any agreement that
requires the proceeds received from any sale of Collateral to be applied to repay, redeem, defease or otherwise acquire or retire any Indebtedness of any Person, other than as permitted by this
Indenture, the Notes and the Collateral Agreements. The Issuers shall, and shall cause each Guarantor to, at their sole cost and expense, execute and deliver all such agreements and instruments as the
Trustee shall reasonably request to

 
more fully or accurately describe the property intended to be Collateral or the obligations intended to be secured by the Collateral Agreements. The Issuers shall, and shall cause each of their
Restricted Subsidiaries to, at their sole cost and expense, file any such notice filings or other agreements or instruments as may be required under applicable law to perfect the Liens created by the
Collateral Agreements, subject to Permitted Liens. 

        SECTION
4.20. Real Estate Mortgages and Recordings. 

        With
respect to any fee interest (as distinguished from any leasehold or other interest) in any real property (individually and collectively, the
"Premises") (A) owned by the Issuers or any of their Domestic Restricted Subsidiaries on the Issue Date or (B) acquired by the Issuers or
any of their Domestic Restricted Subsidiaries after the Issue Date and, in each case, having (i) a purchase price or (ii) a Fair Market Value, of greater than $750,000: 

        (1)   the
Issuers shall deliver to the Trustee, as mortgagee, a fully-executed counterpart of a Mortgage, duly executed by the Issuers or the applicable Domestic Restricted
Subsidiary, together with evidence of the completion (or satisfactory arrangements for the completion) of all recordings and filings of such Mortgage and fixture filings as may be necessary or
desirable, to create a valid, perfected Lien, against the interest purported to be covered thereby; 

        (2)   to
the extent practicable, the Trustee shall have received a mortgagee's title insurance policy in favor of the Trustee, as mortgagee, in an amount equal to 125% of the
Fair Market Value of the property purported to be covered by such Mortgage and in form and substance and issued by a nationally-recognized title insurance company, with respect to the property
purported to be covered by such Mortgage, insuring that the Lien created by such Mortgage constitutes a valid Lien on such interest accompanied by evidence of the payment in full of all premiums
thereon; and 

        (3)   the
Issuers shall deliver to the Trustee, with respect to each Premises that is the subject of such Mortgage, such other items that are required to be delivered pursuant
to this Indenture. 

        SECTION
4.21. Conduct of Business. 

        The
Company and its Restricted Subsidiaries will not engage in any businesses which are not the same, similar, ancillary or reasonably related to the businesses in which the Issuers and
their Restricted Subsidiaries are engaged on the Issue Date. 

        SECTION
4.22. Activities of MFFC. 

        MFFC
shall not hold any assets, become liable for any obligations, engage in any business activity or hold any Subsidiary; provided that
MFFC shall be a co-issuer of the Notes pursuant to the terms of this Indenture and may engage in any activities directly related or necessary in connection therewith. 

        SECTION
4.23. Reports to Holders. 

        Whether
or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, after the date that a registration statement relating to the Exchange Offer is
required to be filed pursuant to the Registration Rights Agreements, the Issuers will furnish to the Trustee and, upon request, to the Holders of Notes: 

        (1)   all
quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K if the
Issuers were required to file such Forms, including a "Management's Discussion and Analysis of Financial Condition and Results of Operations" that describes the financial condition and results of
operations of the Company and their consolidated Subsidiaries (showing in reasonable detail, either on the face of the financial statements or in the footnotes thereto and in Management's Discussion
and Analysis of Financial Condition and Results of Operations, the financial condition and results of operations of the

 
Company and their Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company, if any) and, with respect to the annual
information only, a report thereon by the Company's certified independent accountants; and 

        (2)   all
current reports that would be required to be filed with the SEC on Form 8-K if the Issuers were required to file such reports, 

in
each case within the time periods specified in the SEC's rules and regulations. 

        In
addition, following the consummation of the Exchange Offer contemplated by the Registration Rights Agreements, whether or not required by the rules and regulations of the SEC, the
Issuers will file a copy of all such information and reports with the SEC for public availability within the time periods specified in the SEC's rules and regulations (unless the SEC will not
accept such a filing). In addition, the Issuers have agreed that, prior to the consummation of the Exchange Offer, for so long as any Notes remain outstanding, it will furnish to the Holders upon
their request, the information required to be delivered pursuant to Rule 144(A)(d)(4) under the Securities Act. 

        Notwithstanding
anything to the contrary under this Section 4.23, if FIN 46 requires, or is amended, modified or supplemented from
time to time by FASB to require, the Company to consolidate the assets, liabilities or operations of any of its franchisees or any franchisee of any of its Subsidiaries (to the extent that any such
franchisee is not a direct or indirect Subsidiary of the Company) with the consolidated financial statements of the Company and its Restricted Subsidiaries under GAAP in a manner in which, as
determined in good faith by the Board of Directors of the Company, the Company after good faith efforts is incapable of fully complying (such matters with respect to which the Company is incapable of
so complying, the "Non-Compliant FIN 46 Requirements") within the time period prescribed by applicable SEC rules and regulations (any date
on which the Company is required to so comply, a "Compliance Date"), then (1) the effect of any such required consolidation would be ignored for
purposes of financial covenant compliance and (2) the Company may postpone the filing of the registration statement relating to the Exchange Offer required to be filed pursuant to the
Registration Rights Agreements or, if already filed, may discontinue making filings with the SEC for so long as the Company is unable to fully comply with FIN 46 and can instead furnish to the Trustee
and make available to the public on its Web site on the relevant Compliance Date the consolidated financial statements that, but for this paragraph, the Company would be required to file with the SEC
under this Section 4.23, provided, that (a) such consolidated financial statements
shall not be required to comply with Non-Compliant FIN 46 Requirements and need not be audited and (b) within 90 days following the relevant Compliance Date for annual
financial statements (or the date as of which such registration statement required to be filed pursuant to the Registration Rights Agreements was to have been filed) the Company shall furnish to the
Trustee and make available to the public on its Web site the audited consolidated financial statements that, but for this paragraph, the Company would be required to file with the SEC under this  Section 4.23. 

        SECTION
4.24. Payments for Consent. 

        The
Issuers will not, and will not permit any of their Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder
for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture, the Notes, the Registration Rights Agreements or any Collateral Agreement unless such
consideration is offered to be paid or is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or
agreement. 

 

ARTICLE FIVE

SUCCESSOR CORPORATION  

        SECTION 5.01. Merger, Consolidation and Sale of Assets. 

        Neither
Issuer will, in a single transaction or series of related transactions, consolidate or merge with or into any Person, or sell, assign, transfer, lease, convey or otherwise
dispose of (or cause or permit any Restricted Subsidiary of the Issuers to sell, assign, transfer, lease, convey or otherwise dispose of) all or substantially all of the Company's assets (determined
on a consolidated basis for the Company and the Company's Restricted Subsidiaries) whether as an entirety or substantially as an entirety to any Person unless: 

        (1)   either: 

        (a)   the
Company shall be the surviving or continuing entity; or 

        (b)   the
Person (if other than the Company) formed by such consolidation or into which an Issuer is merged or the Person which acquires by sale, assignment, transfer, lease,
conveyance or other disposition the properties and assets of the Company and of the Company's Restricted Subsidiaries substantially as an entirety (the "Surviving
Entity"): 

        (x)   shall
be a limited liability company or a corporation organized and validly existing under the laws of the United States or any State thereof or the District of
Columbia; and 

        (y)   shall
expressly assume, (i) by supplemental indenture (in form and substance satisfactory to the Trustee), executed and delivered to the Trustee, the due and
punctual payment of the principal of, and premium, if any, interest on and Additional Interest, if any, on all of the Notes and the performance of every covenant of the Notes, this Indenture and the
Registration Rights Agreements on the part of the Issuers to be performed or observed thereunder and (ii) by amendment, supplement or other instrument (in form and substance satisfactory to the
Trustee), executed and delivered to the Trustee, all obligations of the Issuers under the Collateral Agreements and in connection therewith shall cause such instruments to be filed and recorded in
such jurisdictions and take such other actions as may be required by applicable law to perfect or continue the perfection of the Lien created under the Collateral Agreements on the Collateral owned by
or transferred to the surviving entity; 

        (2)   except
in the case of a consolidation or merger of an Issuer with or into a Wholly-Owned Subsidiary of the Company, or a sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the assets of the Company to a Wholly-Owned Subsidiary of the Company, immediately after giving effect to such transaction and the assumption
contemplated by clause (1)(b)(y) above (including giving effect to any Indebtedness (including Acquired Indebtedness) incurred or anticipated to
be incurred in connection with or in respect of such transaction), the Company or such Surviving Entity, as the case may be, (a) shall have a Consolidated Net Worth at least equal to the
Consolidated Net Worth of the Company immediately prior to such transaction and (b) shall be able to incur at least $1.00 of additional Indebtedness (other than Permitted Indebtedness) in
compliance with Section 4.08; 

        (3)   except
in the case of a consolidation or merger of the Issuers with or into a Wholly-Owned Subsidiary of the Company, or a sale, assignment, transfer, lease, conveyance
or other disposition of all or substantially all of the assets of the Company to a Wholly-Owned Subsidiary of the Company, immediately after giving effect to such transaction and the assumption
contemplated by clause (1)(b)(y) above (including, without limitation, giving effect to any Indebtedness (including Acquired Indebtedness)
incurred or anticipated to be incurred and any Lien granted in connection

 
with or in respect of the transaction), no Default or Event of Default shall have occurred or be continuing; and 

        (4)   the
Issuers or the Surviving Entity shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that such consolidation, merger,
sale, assignment, transfer, lease, conveyance or other disposition and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with the
applicable provisions of this Indenture and that all conditions precedent in this Indenture relating to such transaction have been satisfied. 

        For
purposes of the foregoing, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series of transactions) of all or substantially all of the properties or
assets of one or more Restricted Subsidiaries of the Company the Capital Stock of which constitutes all or substantially all of the properties and assets of the Company, shall be deemed to be the
transfer of all or substantially all of the properties and assets of the Company. 

        SECTION
5.02. Successor Entity Substituted. 

        Upon
any consolidation, combination or merger of an Issuer or any transfer of all or substantially all of the assets of the Company in accordance with the foregoing, in which such Issuer
is not the continuing corporation, the Surviving Entity shall succeed to, and be substituted for, and may exercise every right and power of, such Issuer under this Indenture and the Notes with the
same effect as if such Surviving Entity had been named as such. Upon such substitution the Issuer and any Guarantors that remain Subsidiaries of the Issuer shall be released from this Indenture and
the Notes and each Issuer, if surviving, shall be automatically discharged from all of its obligations under this Indenture and the Notes. 

ARTICLE SIX

DEFAULT AND REMEDIES  

        SECTION 6.01. Events of Default. The following events are defined as "Events of
Default": 

        (1)   the
failure to pay the premium, if any, interest and Additional Interest, if any, on any Notes or any other amount (other than principal for the Notes) when the same
becomes due and payable and the default continues for a period of thirty (30) days; 

        (2)   the
failure to pay the principal on any Notes, when such principal becomes due and payable, at maturity, upon redemption or otherwise (including the failure to make a
payment to purchase Notes tendered pursuant to a Change of Control Offer, an Excess Cash Flow Offer or a Net Proceeds Offer); 

        (3)   a
default in the observance or performance of any other covenant or agreement contained in this Indenture (other than the payment of the principal of, or premium, if
any, or interest or Additional
Interest, if any, on any Note) or any Collateral Agreement which default continues for a period of thirty (30) days after the Issuers receive written notice specifying the default (and
demanding that such default be remedied and stating that such notice is a "Notice of Default") from the Trustee or the Holders of at least 25% of the outstanding principal amount of the Notes (except
in the case of a default with respect to Section 5.01, which will constitute an Event of Default with such notice requirement but without such
passage of time requirement); 

        (4)   the
failure to pay at final maturity (giving effect to any applicable grace periods and any extensions thereof) the principal amount of any Indebtedness of either Issuer
or any Restricted Subsidiary of the Company (other than any Immaterial Subsidiary of the Company) or the acceleration of the final stated maturity of any such Indebtedness (which acceleration is not
rescinded, annulled or otherwise cured within twenty (20) days of receipt by such Issuer or such

 
Restricted Subsidiary of notice of any such acceleration) if the aggregate principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for
failure to pay principal at final maturity or which has been accelerated (in each case with respect to which the 20-day period described above has elapsed), aggregates $5.0 million
or more at any time; 

        (5)   one
or more judgments in an aggregate amount in excess of $7.5 million (which are not covered by insurance as to which the insurer has not disclaimed coverage)
shall have been rendered against either Issuer or any Restricted Subsidiary of the Company (other than any such judgment rendered solely against an Immaterial Subsidiary of the Company) and such
judgments remain undischarged, unpaid or unstayed for a period of sixty (60) consecutive days after such judgment or judgments become final and non-appealable; 

        (6)   the
Company or any Significant Subsidiary (A) commences a voluntary case or proceeding under any Bankruptcy Code with respect to itself, (B) consents to
the entry of an order for relief against it in an involuntary case under any Bankruptcy Code, (C) consents to the appointment of a Custodian of it or for substantially all of its property,
(D) makes a general assignment for the benefit of its creditors; or (F) takes any corporate action to authorize or effect any of the foregoing; 

        (7)   a
court of competent jurisdiction enters an order or decree that (A) is an order for relief in respect of the Company or any Significant Subsidiary in an
involuntary case under any Bankruptcy Code, (B) appoints a Custodian of the Company or any Significant Subsidiary or for substantially all of its property or (C) orders the
winding-up or liquidation of its affairs; and such order or decree shall remain unstayed and in effect for a period of sixty (60) consecutive days; 

        (8)   except
with respect to a Collateral Agreement for which all or substantially all of the assets comprising the Collateral thereunder have been transferred or sold or the
Lien thereon released as permitted under this Indenture, any Collateral Agreement at any time for any reason shall cease to be
in full force and effect, or shall cease to be effective in all material respects to grant the Trustee the Liens with the priority purported to be created thereby on a material portion of the
Collateral thereunder, subject to Permitted Liens and no other Liens except as expressly permitted by the applicable Collateral Agreement, in each case for thirty (30) days after the Issuers
receive written notice thereof specifying such occurrence from the Trustee or the Holders of at least 25% of the outstanding principal amount of the Notes; 

        (9)   either
Issuer or any Guarantor that is a Significant Subsidiary shall assert in writing that any Lien created under any Collateral Agreement is invalid or unenforceable;
or 

        (10) any
Guarantee of a Guarantor that is a Significant Subsidiary ceases to be in full force and effect or any Guarantee of a Guarantor that is a Significant Subsidiary is
declared to be null and void and unenforceable or any Guarantee of a Guarantor that is a Significant Subsidiary is found to be invalid or any Guarantor that is a Significant Subsidiary denies its
liability under its Guarantee (other than by reason of the release of such Guarantor in accordance with the terms of this Indenture). 

        SECTION
6.02. Acceleration. 

        (a)   If
an Event of Default (other than an Event of Default specified in Section 6.01(6) or  (7) above with respect to the Issuers) shall occur and be
continuing and has not been waived, the Trustee or the Holders of at least 25% in principal
amount of outstanding Notes may declare the principal of and premium, if any, accrued interest and Additional Interest, if any, on all the Notes to be due and payable by notice in writing to the
Issuers and the Trustee specifying the respective Event of Default and that it is a "notice of acceleration" (the "Acceleration Notice"), and the same
shall become immediately due and payable.

 

        (b)   If
an Event of Default specified in Section 6.01(6) or (7) above
with respect to the Issuers occurs and is continuing, then all unpaid principal of, and premium, if any, and accrued and unpaid interest and Additional Interest, if any, on all of the outstanding
Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

        (c)   At
any time after a declaration of acceleration with respect to the Notes as described in Section 6.02(a) or  (b), the Holders of a majority in principal
amount of the Notes may rescind and cancel such declaration and its consequences: (1) if the
rescission would not conflict with any judgment or decree; and (2) if all existing Events of Default have been cured or waived except nonpayment of principal, premium, if any, interest or
Additional Interest, if any, that has become due solely because of the acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

        SECTION
6.03. Other Remedies. 

        If
an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, premium, if any, or
interest on the Notes or to enforce the performance of any provision of the Notes, this Indenture or any Collateral Agreement. 

        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 in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative to the extent permitted by law. 

        SECTION
6.04. Waiver of Past Defaults. 

        Subject
to Sections 2.09, 6.07 and  9.02, the Holders of a majority in principal amount of the Notes may waive
any existing Default or Event of Default and its consequences, except (other
than as provided in Section 6.02(c)) a default in the payment of the principal of or premium, if any, interest or Additional Interest, if any, on
any Notes. When a Default or Event of Default is waived, it is cured and ceases to exist. 

        SECTION
6.05. Control by Majority. 

        Subject
to Section 2.09, the Holders of a majority in principal amount of the outstanding Notes may direct the time, method and
place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, including, without limitation, any remedies provided
for in Section 6.03. Subject to Section 7.01 and  7.02(l), however, the Trustee may refuse to
follow any direction (which direction, if sent to the Trustee, shall be in writing) that the Trustee
reasonably believes conflicts with any applicable law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of another Holder, or that may subject the Trustee to
personal liability; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction
(which direction, if sent to the Trustee, shall be in writing). 

        SECTION
6.06. Limitation on Suits. 

        A
Holder may not pursue any remedy with respect to this Indenture or the Notes unless: 

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

        (2)   subject
to Section 2.09, Holders of at least 25% in principal amount of the outstanding Notes make a written
request to the Trustee to institute proceedings in respect of that Event of Default;

 

        (3)   such
Holders offer to the Trustee indemnity reasonably satisfactory to the Trustee against any loss, liability or expense to be incurred in compliance with such request; 

        (4)   the
Trustee does not comply with the request within sixty (60) days after receipt of the request and the offer of indemnity; and 

        (5)   during
such sixty (60) day period the Holders of a majority in principal amount of the outstanding Notes do not give the Trustee a written direction which, in the
opinion of the Trustee, is inconsistent with the request. 

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

        SECTION
6.07. Rights of Holders to Receive Payment. 

        Notwithstanding
any other provision of this Indenture, the right of any Holder to receive payment of principal of, premium, if any, and interest on a Note, on or after the respective due
dates expressed in such Note, 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 may recover judgment (i) in its own name and (ii) in the case of the Trustee, as trustee of an express trust or on behalf of each of the Secured Parties, in each
case against the Issuers or any other obligor on the Notes for the whole amount of principal of, premium, if any, and accrued interest remaining unpaid on, the Notes, together with interest on overdue
principal and, to the extent that payment of such interest is lawful, interest on overdue installments of interest at the rate set forth in  Section 4.01 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 and its respective agents and counsel and any other amounts due the Trustee under the Collateral Agreements and  Section 7.07. 

        SECTION
6.09. Trustee May File Proofs of Claim. 

        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 allowed in any judicial proceedings relating to the Issuers or any other
obligor upon the Notes, any of their respective creditors or any of their respective property and shall be entitled and empowered to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceedings 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, taxes, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under the Collateral Agreements and Section 7.07. The
Issuers' payment obligations under this Section 6.09 shall be secured in accordance with the provisions of  Section 7.07. 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 thereof, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. 

   
        SECTION 6.10. Priorities. 

        If
the Trustee collects any money or property pursuant to this Article Six, it shall pay out the money in the following order: 

        First:
to the Trustee, the Paying Agent and the Registrar for amounts due under Section 7.07 (including payment of all compensation
expense, all liabilities incurred and all advances made by the Trustee and the costs and expenses of collection); 

        Second:
if the Holders are forced to proceed against the Issuers directly without the Trustee, to Holders for their collection costs; 

        Third:
to Holders for amounts due and unpaid on the Notes for principal, premium, 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 interest, respectively; and 

        Fourth:
to the Issuers or any other obligor on the Notes, as their interests may appear, or as a court of competent jurisdiction may direct. 

        The
Trustee, upon prior written notice to the Issuers, may fix a record date and payment date for any payment to Holders pursuant to this  Section 6.10. 

        SECTION
6.11. Undertaking for Costs. 

        All
parties to this Indenture agree, and each Holder by its acceptance of its Note shall be deemed to have agreed, that in any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys' fees, 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 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to  Section 6.07, or a suit by a
Holder or Holders of more than 10% in principal amount of the outstanding Notes. 

        SECTION
6.12. Restoration of Rights and Remedies. 

        If
the Trustee or any Holder has instituted any proceedings 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 proceeding, the Issuers, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding has been instituted. 

ARTICLE SEVEN

TRUSTEE  

        SECTION 7.01. Duties of Trustee. 

        The
duties and responsibilities of the Trustee shall be as provided by the TIA and as set forth herein. 

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

 

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

        (1)   the
duties of the Trustee shall be determined solely by the express provisions of this Indenture and the TIA and the Trustee need perform only those duties as are
specifically set forth in this Indenture and no covenants or obligations shall be implied in or read into this Indenture against the Trustee; and 

        (2)   in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; provided,  however, in case of any such certificates
or opinions furnished to the Trustee which by the provisions hereof are 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)   Notwithstanding
anything to the contrary herein contained, the Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act,
or its own willful misconduct, except that: 

        (1)   this
paragraph does not limit the effect of paragraph (b) of this  Section 7.01; 

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

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

        (d)   No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any liability. The Trustee shall be under no obligation to
exercise of any of its rights or powers under this Indenture or the Collateral Agreements at the request, order or direction of any Holders unless such Holders have offered to the Trustee security and
indemnity reasonably satisfactory to the Trustee against the costs and expenses which may be incurred by it in compliance with such request, order or direction. 

        (e)   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), (c) and (d) of this  Section 7.01. 

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

        SECTION
7.02. Rights of Trustee. 

        Subject
to Section 7.01: 

        (a)   The
Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement instrument, opinion,
report, request direction, consent, order, bond, note or other paper or document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not
investigate any fact or matter stated in the document. 

        (b)   Before
the Trustee acts or refrains from acting, it may consult with counsel of its selection and may require an Officers' Certificate or an Opinion of Counsel, or both,
which shall conform to Sections 11.04 and 11.05. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on such Officers' Certificate or Opinion of Counsel. The advice of the Trustee's 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 the Trustee 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 appointed with due care. 

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

        (e)   The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, notice,
request, direction, consent, order, bond, debenture, or other paper or 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, upon reasonable notice to the Issuers, to examine the books, records and premises of
the Issuers, personally or by agent or attorney at the sole cost of the Issuers and to consult with the officers and representatives of the Issuers, including the Issuers' accountants and attorneys.
Except as expressly stated herein to the contrary, in no event shall the Trustee have any responsibility to ascertain whether there has been compliance with any of the covenants or provisions of  Articles Four or Five hereof. 

        (f)    The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 

        (g)   Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuers shall be sufficient if signed by an Officer of the
Issuers and any resolution of the Board of Directors shall be sufficient if evidenced by a copy of such resolution certified by an Officer of the Issuers to have been duly adopted and in full force
and effect on the date hereof. 

        (h)   The
Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of Default unless a Trust Officer of the Trustee has actual notice
thereof or unless the Trustee shall have received from the Issuers, any Guarantor or any other obligor upon the Notes or from any Holder written notice thereof at its address set forth in  Section 11.02 hereof, and such notice references the Notes and this Indenture. 

        (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)    The
Trustee may request that the Issuers deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to
take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any persons authorized to sign an Officers' Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded. 

        (k)   The
permissive right of the Trustee to take any action under this Indenture or any Collateral Agreements shall not be construed as a duty to so act. 

        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 Issuers, any Subsidiary of the Issuers or their respective
Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee must comply with  Sections 7.10 and 7.11 of this Indenture, and the Trustee is subject to TIA
Sections 310(b) and 311. 

        SECTION
7.04. Trustee's Disclaimer. 

        The
Trustee makes no representation as to the validity, adequacy or sufficiency of this Indenture, the Notes or the Collateral Agreements, and it shall not be accountable for the
Issuers' use of the

 
proceeds from the Notes, and it shall not be responsible for any statement of the Issuers in this Indenture, the Notes, the Collateral Agreements or any other documents in connection with the issuance
of the Notes other than the Trustee's certificate of authentication, which shall be taken as the statement of Issuers, and the Trustee assumes no responsibility for their correctness. 

        Beyond
the exercise of reasonable care in the custody thereof and the fulfillment of its obligations under this Indenture and the Collateral Agreements, the Trustee shall have no duty as
to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights
pertaining thereto and the Trustee shall not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or
otherwise perfecting or maintaining the perfection of any security interest in the Collateral. The Trustee shall be deemed to have exercised reasonable care in the custody of the Collateral in its
possession if the Collateral is accorded treatment substantially equal to that which it accords its own property. 

        The
Trustee makes no representations as to and shall not be responsible for the existence, genuineness, value, sufficiency or condition of any of the Collateral or as to the security
afforded or intended to be afforded thereby, hereby or by any Collateral Agreement, or for the validity, perfection, priority or enforceability of the Liens or security interests in any of the
Collateral created or intended to be created by any of the Collateral Agreements, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to
the extent such action or omission constitutes gross negligence or willful misconduct on the part of the Trustee, for the validity or sufficiency of the Collateral, any Collateral Agreements or any
agreement or assignment contained in any thereof, for the validity of the title of the Issuers or any Guarantor to the Collateral, for insuring the Collateral or for the payment of taxes, charges,
assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral. 

        SECTION
7.05. Notice of Default. 

        If
a Default or an Event of Default occurs and is continuing and if a Trust Officer has actual knowledge or has received written notice from the Issuers or any Holder, the Trustee shall
mail to each Holder, with a copy to the Issuers, notice of the Default or Event of Default within thirty (30) days thereof. Except in the case of a Default or an Event of Default in payment of
principal of, premium, if any, or interest on, any Note, including an accelerated payment and the failure to make payment on the Change of Control Payment Date pursuant to a Change of Control Offer
and, except in the case of a failure to comply with Article Five, the Trustee may withhold the notice if and so long as its Board of Directors,
the executive committee of its Board of Directors or a committee of its directors and/or Trust Officers in good faith determines that withholding the notice is in the interest of the Holders. 

        SECTION
7.06. Reports by Trustee to Holders. 

        Within
sixty (60) days after each May 15, beginning with May 15, 2004, the Trustee shall, to the extent that any of the events described in TIA
Section 313(a) occurred within the previous twelve months, but not otherwise, mail to each Holder a brief report dated as of such date that complies with TIA
Section 313(a). The Trustee also shall comply with TIA Sections 313(b) and (c). 

        A
copy of each report at the time of its mailing to Holders shall be mailed to the Issuers and filed by the Issuers with the SEC and each stock exchange or market, if any, on which the
Notes are listed or quoted. 

        The
Issuers shall promptly notify the Trustee if the Notes become listed or quoted on any stock exchange or market and the Trustee shall comply with TIA Section 313(d) and
any delisting thereof.

 

        SECTION
7.07. Compensation and Indemnity. 

        The
Issuers shall pay to the Trustee, the Paying Agent and the Registrar (each an "Indemnified Party") from time to time such compensation
for their respective services as Trustee, Paying Agent or Registrar, as the case may be, shall from time to time be agreed in writing signed by the Company. The Trustee's compensation shall not be
limited by any law on compensation of a trustee of an express trust. The Issuers shall reimburse each Indemnified Party upon request for all reasonable out-of-pocket expenses
incurred or made by it in connection with the performance of its duties under, as the case may be, this Indenture or the Collateral Agreements. Such expenses shall include the reasonable fees and
expenses of each of such Indemnified Party's agents and counsel. 

        The
Issuers and the Guarantors hereby agree to indemnify each Indemnified Party and its agents, employees, stockholders and directors and officers for, and to hold each of them harmless
against, any loss, cost, claim, liability or expense (including taxes) incurred by any of them except for such actions to the extent caused by any negligence, bad faith or willful misconduct on the
part of such Indemnified Party, arising out of or in connection with this Indenture or the Collateral Agreements, or the administration of this trust, including the reasonable costs and expenses of
enforcing this Indenture against the Issuers (including this Section 7.07) and defending themselves against any claim or liability in connection
with the exercise or performance of any of their rights, powers or duties hereunder or thereunder (including the reasonable fees and expenses of counsel). The Trustee shall notify the Issuers promptly
of any claim asserted against an Indemnified Party for which such Indemnified Party has
advised the Trustee that it may seek indemnity hereunder or under the Collateral Agreements. Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of its obligations hereunder.
At the Indemnified Party's sole discretion, the Issuers shall defend the claim and the Indemnified Party shall cooperate and may participate in the defense;  provided that any settlement of a claim shall
be approved in writing by the Indemnified Party. Alternatively, the Indemnified Party may at its option
have separate counsel of its own choosing and the Issuers shall pay the reasonable fees and expenses of such counsel; provided that the Issuers shall
not be required to pay such fees and expenses if it assumes the Indemnified Party's defense and there is no conflict of interest between the Issuers and the Indemnified Party in connection with such
defense as reasonably determined by the Indemnified Party. The Issuers need not pay for any settlement made without their written consent, which consent shall not be unreasonably withheld. 

        To
secure the Issuers' payment obligations in this Section 7.07, each Indemnified Party shall have a lien prior to the Notes on all
Collateral held or collected by the Trustee, in its capacity as Trustee, except assets or money held in trust to pay principal of or interest on particular Notes which have been called for redemption. 

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

        The
obligations of the Issuers under this Section 7.07 shall survive the satisfaction and discharge of this Indenture, termination
of the Collateral Agreements or the resignation or removal of the Trustee. 

        The
Trustee shall comply with the provisions of TIA Section 312(b)(2) to the extent applicable. 

        SECTION
7.08. Replacement of Trustee. 

        The
Trustee may resign by so notifying the Issuers. The Holders of a majority in aggregate principal amount of the outstanding Notes may remove the Trustee by so notifying the Issuers
and the

 
Trustee in writing and may appoint a successor Trustee. The Issuers, by a Board Resolution, may remove the Trustee if: 

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

        (2)   the
Trustee is adjudged bankrupt or insolvent; 

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

        (4)   the
Trustee becomes incapable of acting with respect to the Notes. 

        If
the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall notify each Holder in writing of such event and shall promptly
appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the outstanding Notes may appoint a successor Trustee
to replace the successor Trustee appointed by the Issuers. 

        A
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers and thereupon the resignation or removal of the retiring Trustee
shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, trusts, duties and obligations of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all property and money held by such Trustee so ceasing to act hereunder subject nevertheless to its lien, if any, provided for in  Section 7.07. Upon request of the Issuers or the successor Trustee, such retiring Trustee shall at the expense of the Issuers and upon payment of
the charges of the Trustee then unpaid, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 

        If
a successor Trustee does not take office within thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee, at the Issuers' expense, the Issuers or
the Holders of at least 10% in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

        If
the Trustee fails to comply with Section 7.10, any Holder who satisfies the requirements of TIA Section 310(b) may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

        The
Issuers shall give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders in writing. Each notice shall include the name
of the successor Trustee and the address of its Corporate Trust Office. 

        Notwithstanding
any resignation or replacement of the Trustee pursuant to this Section 7.08, the Issuers' obligations under  Section 7.07 shall continue for the
benefit of the retiring Trustee. 

        SECTION
7.09. Successor Trustee by Merger, Etc. 

        If
the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another Person, the resulting, surviving or
transferee Person without any further act shall, if such resulting, surviving or transferee Person is otherwise eligible hereunder, be the successor Trustee;  provided, however, that such Person shall be otherwise qualified and eligible under this
Article Seven. 

        In
case any Notes have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the Notes so authenticated with the same effect as if such successor Trustee had itself authenticated such Notes.

 

        SECTION
7.10. Eligibility; Disqualification. 

        (a)   This
Indenture shall always have a Trustee who satisfies the requirements of TIA Sections 310(a)(1), (2), (3) and (5). The Trustee (or, in the case of a
corporation included in a bank holding company system, the related bank holding company) shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published
annual report of condition. In addition, if the Trustee is a corporation included in a bank holding company system, the Trustee, independently of such bank holding company, shall meet the capital
requirements of TIA Section 310(a)(2). The Trustee shall comply with TIA Section 310(b); provided,  however, that there shall be excluded from the
operation of TIA Section 310(b)(1) any indenture or indentures under which other
securities, or certificates of interest or participation in other securities, of the Issuers are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are
met. The provisions of TIA Section 310 shall apply to the Issuers, as obligor of the Notes. 

        (b)   If
the Trustee has or acquires a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the
manner provided by, and subject to the provisions of, the TIA and this Indenture. 

        SECTION
7.11. Preferential Collection of Claims Against Issuers. 

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

        SECTION
7.12. Trustee as Paying Agent. 

        References
to the Trustee in Sections 7.01(f), 7.02,  7.03, 7.04,
and 7.07 shall include the Trustee in its
role as Paying Agent. 

        SECTION
7.13. Co-Trustees and Separate Trustees. 

        (a)   At
any time or times, for the purpose of meeting the legal requirements of any jurisdiction in which any of the Collateral may at the time be located, the Issuers and
the Trustee shall have the power to appoint, and, upon the written request of the Trustee or of the Holders of at least 25% in principal amount of the Notes outstanding, the Issuers shall for such
purpose join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint, one or more Persons approved by the Trustee either to act as
co-trustee, jointly with the Trustee, of all or any part of the Collateral, or to act as separate trustees of any such property, in either case with such powers as may be provided in the
instrument of appointment, and to vest in such Person or Persons in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this  Section 7.13. The Issuers and the Trustee hereby appoint The Bank of New York Trust Company, N.A. to act co-Trustee with respect to
the Deed to Secure Debt, Security Agreement and Assignment of Leases and Rents made by Great Manufacturing, LLC, as Grantor, to The Bank of New York Trust Company, N.A., as Grantee dated
March 16, 2004. 

        (b)   Should
any written instrument from the Issuers be required by any co-trustee or separate trustee so appointed for more fully confirming to such
co-trustee or separate trustee such property, title, right or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Issuers. 

        (c)   Every
co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be appointed subject to the following terms, namely: 

        (i)    The
Notes shall be authenticated and delivered, and all rights, powers, duties and obligations hereunder in respect of the custody of securities, cash and other personal
property held

 
by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely, by the Trustee. 

        (ii)   The
rights, powers, duties and obligations hereby conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee or
by the Trustee and such co-trustee or separate trustee, jointly as shall be provided in the instrument appointing such co-trustee or separate trustee, except to the extent that
under any law of any jurisdiction in which any particular act is to be performed, the Trustee shall be incompetent or unqualified to perform such act, in which event such rights, powers, duties and
obligations shall be exercised and performed by such co-trustee or separate trustee. 

        (iii)  The
Trustee at any time, by an instrument in writing executed by it, with the concurrence of the Issuers evidenced by a Board Resolution, may accept the resignation of
or remove any co-trustee or separate trustee appointed under this Section 7.13, and, in case an Event of Default has occurred and is
continuing, the Trustee shall have power to accept the resignation of, or remove, any such co-trustee or separate trustee without the concurrence of the Issuers. Upon the written request
of the Trustee, the Issuers shall join with the Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to effectuate such resignation or removal. A
successor to any co-trustee or separate trustee so resigned or removed may be appointed in the manner provided in this Section 7.13. 

        (iv)  No
co-trustee or separate trustee hereunder shall be personally liable by reason of any act or omission of the Trustee or any other such trustee hereunder. 

        (v)   Any
act of Holders delivered to the Trustee shall be deemed to have been delivered to each such co-trustee or separate trustee. 

        SECTION
7.14. Form of Documents Delivered to Trustee. 

        In
any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or
covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one
or more other Persons as to other matters and any such Person may certify or give an opinion as to such matters in one or several documents. 

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

        Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they
may, but need not, be consolidated and form one instrument. 

ARTICLE EIGHT

SATISFACTION AND DISCHARGE OF INDENTURE  

        SECTION 8.01. Legal Defeasance and Covenant Defeasance.

 

        (a)   The
Issuers may, at their option and at any time, elect to have either paragraph (b) or  paragraph (c) below be applied to the outstanding Notes upon
compliance with the applicable conditions set forth in  paragraph (d). 

        (b)   Upon
the Issuers' exercise under paragraph (a) of the option applicable to this  paragraph (b), the Issuers and the Guarantors shall be deemed to have
been released and discharged from their obligations with respect to the
outstanding Notes, the Guarantees and the Collateral Agreements on the date the applicable conditions set forth below are satisfied (hereinafter, "Legal
Defeasance"). For this purpose, such Legal Defeasance means that the Issuers 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 the Sections and matters under this Indenture referred to in  clause (i) and (ii)
 below, and the Issuers and the Guarantors shall be deemed to have satisfied
all their other obligations under such Notes and this Indenture, the Guarantees and the Collateral Agreements, except for the following which shall survive until otherwise terminated or discharged
hereunder: (i) the rights of Holders of outstanding Notes to receive solely from the trust fund described in paragraph (d) below and as
more fully set forth in such paragraph payments in respect of the principal of, and premium, if any, interest and Additional Interest, if any, on such Notes when such payments are due,
(ii) obligations listed in Section 8.03, subject to compliance with this  Section 8.01 and (iii) the rights, powers, trusts, duties and
immunities of the Trustee and the Issuers' obligations in connection
therewith. The Issuers may exercise their option under this paragraph (b) notwithstanding the prior exercise of their option under  paragraph (c)
below with respect to the Notes. 

        (c)   Upon
the Issuers' exercise under paragraph (a) of the option applicable to this  paragraph (c), the Issuers and their Restricted Subsidiaries shall be
released and discharged from their obligations under any covenant contained
in Section 4.05, Sections 4.08 through 4.22,  Section 4.24, and Section 5.01(2), with respect to the outstanding Notes on and after the
date the conditions set forth below are satisfied (hereinafter, "Covenant Defeasance"), and the Notes shall thereafter be deemed to be not "outstanding"
for the purpose 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, such Covenant Defeasance means that,
with respect to the outstanding Notes, the Issuers 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 Issuers' exercise under paragraph (a) hereof of the option
applicable to this paragraph (c), subject to the satisfaction of the conditions set forth in  paragraph (d) below, Sections 6.01(3) through  6.01(10) (except, in the case of Section 6.01(6) and  6.01(7)
, with respect only to Significant Subsidiaries) shall not constitute Events of Default. 

        (d)   The
following shall be the conditions to application of either paragraph (b) or  paragraph (c) above to the outstanding Notes: 

        (1)   The
Issuers shall have irrevocably deposited in trust with the Trustee, pursuant to an irrevocable trust and security agreement in form and substance reasonably
satisfactory to the Trustee, U.S. Legal Tender or non-callable U.S. Government Obligations or a combination thereof, in such amounts and at such times as are sufficient, in the opinion of
a nationally-recognized firm of independent public accountants, to pay the principal of, and premium, if any, interest and Additional Interest, if any, on the outstanding Notes on the stated dates for
payment or redemption, as the case may be; provided, however, that the Trustee (or other qualifying
trustee) shall have received an irrevocable written order from the Issuers instructing the Trustee (or other

 
qualifying trustee) to apply such U.S. Legal Tender or the proceeds of such U.S. Government Obligations to said payments with respect to the Notes to maturity or redemption; 

        (2)   No
Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default arising in connection with the
substantially contemporaneous borrowing of funds to fund the deposit referenced in clause (1) above and the granting of any Lien securing such borrowing); 

        (3)   Such
Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default hereunder (other than a Default or Event of Default
arising in connection with the substantially contemporaneous borrowing of funds to fund the deposit referenced in clause (1) above and the granting of any Lien securing such borrowing)
or any other material agreement or instrument to which the Issuers or any of their Subsidiaries is a party or by which the Issuers or any of their Subsidiaries is bound; 

        (4)   (i) In
the event the Issuers elect paragraph (b) above, the Issuers shall deliver to the Trustee an Opinion
of Counsel in the United States of America, in form and substance reasonably satisfactory to the Trustee, to the effect that (A) the Issuers have received from, or there has been published by,
the Internal Revenue Service a ruling or (B) since the Issue Date, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall state that, Holders shall not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance contemplated hereby and shall be subject to
federal income tax in 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 or (ii) in the event the Issuers elects  paragraph (c)
 above, the Issuers shall deliver to the Trustee an Opinion of Counsel in the United States, in form and substance reasonably
satisfactory to the Trustee, to the effect that Holders shall not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance contemplated hereby and shall
be subject to federal income tax in 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; 

        (5)   The
Issuers shall have delivered to the Trustee an Officers' Certificate stating that the deposit under clause (1)
was not made by the Issuers with the intent of preferring the Holders over any other creditors
of the Issuers or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Issuers or others; 

        (6)   The
Issuers shall have delivered to the Trustee an Opinion of Counsel, reasonably satisfactory to the Trustee, to the effect that assuming no intervening bankruptcy of
the Issuers between the date of deposit and the 91st day following the date of deposit and that no Holder of Notes is an insider of the Issuers, after the 91st day following the date of deposit, the
trust funds shall not be subject to any applicable bankruptcy, insolvency, reorganization or similar law affecting creditors' rights generally; and 

        (7)   The
Issuers have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent specified herein relating to the
defeasance contemplated by this Section 8.01 have been complied with. 

Notwithstanding
the foregoing, the Opinion of Counsel required by Section 8.01(d)(4)(i) above with respect to a Legal Defeasance need not be
delivered if all Notes not theretofore delivered to the Trustee for cancellation (1) have become due and payable or (2) shall become due and payable on the maturity date 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 Issuers. 

        In
the event all or any portion of the Notes are to be redeemed through such irrevocable trust, the Issuers must make arrangements reasonably satisfactory to the Trustee, at the time of
such deposit, for the giving of the notice of such redemption or redemptions by the Trustee in the name and at the expense of the Issuers. 

   
        SECTION 8.02. Satisfaction and Discharge. 

        In
addition to the Issuers' rights under Section 8.01, the Issuers may terminate all of their obligations under this Indenture
(subject to Section 8.03), and this Indenture, the Notes, the Guarantees and the Collateral Agreements, and all Liens created thereunder, shall
be discharged and shall cease to be in effect when: 

        (1)   either:

        (a)   all
the Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or paid as provided in  Section 2.07 and Notes for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the Issuers and
thereafter repaid to the Issuers or discharged from such trust) have been delivered to the Trustee for cancellation; or 

        (b)   all
Notes not theretofore delivered to the Trustee for cancellation (i) have become due and payable, (ii) shall become due and payable at their stated
maturity within one year or (iii) are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee, and the Issuers have irrevocably deposited or caused
to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Trustee for cancellation, for principal of,
and premium, if any, interest and Additional Interest, if any, on the Notes to the date of deposit together with irrevocable instructions from the Issuers directing the Trustee to apply such funds to
the payment thereof at maturity or redemption, as the case may be; 

        (2)   all
other sums payable under this Indenture by the Issuers have been paid; and 

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

        SECTION
8.03. Survival of Certain Obligations. 

        Notwithstanding
the satisfaction and discharge of this Indenture and of the Notes referred to in Section 8.01 or  8.02, the respective obligations of the Issuers and
the Trustee under Sections 2.03,  2.04, 2.05, 2.06,
 2.07 and 2.08, Sections 7.07 and
7.08 and Sections 8.05, 8.06 and  8.07 shall survive
until the Notes are no longer outstanding, and thereafter the obligations of the Issuers and the Trustee under  Sections 7.07, 8.04, 8.05 and  8.06 and 8.07 shall survive. 

        SECTION
8.04. Acknowledgment of Discharge by Trustee. 

        Subject
to Section 8.07, after (i) the conditions of Section 8.01 or  8.02 have been satisfied,
(ii) the Issuers have paid or caused to be paid all other sums payable hereunder by the Issuers and (iii) each
Issuer has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent referred to in  clause (i) above relating to the satisfaction and
discharge of this Indenture have been complied with, the Trustee, upon written request, shall
acknowledge in writing the discharge of the Issuers' obligations under this Indenture except for those surviving obligations specified in  Section 8.03 and the Trustee shall execute and deliver to
the Issuers any document reasonably requested by the Issuers to effect or evidence any
release and discharge of Lien or Collateral Agreement contemplated by Section 12.06. 

        SECTION
8.05. Application of Trust Moneys. 

        The
Trustee shall hold any U.S. Legal Tender or U.S. Government Obligations deposited with it in the irrevocable trust established pursuant to  Section 8.01. The Trustee shall apply the deposited U.S.
Legal Tender or the U.S. Government obligations, together with earnings thereon, through
the Paying Agent, in accordance with this Indenture and the terms of the irrevocable trust agreement established

 
pursuant to Section 8.01, to the payment of principal of, premium, if any, and interest on the Notes. Anything in this  Article Eight to the
contrary notwithstanding, the Trustee shall deliver or pay to the Issuers from time to time upon the Issuers' request any
U.S. Legal Tender or U.S. Government Obligations held by it as provided in Section 8.01(d) which, in the opinion of a nationally-recognized firm
of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance. 

        The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to  Section 8.01 or 8.02 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 Outstanding Notes. 

        SECTION
8.06. Repayment to the Issuers; Unclaimed Money. 

        Subject
to Sections 7.07, 8.01 and  8.02, the Trustee and the Paying Agent shall promptly pay to the Issuers
upon written request from the Issuers any excess U.S. Legal Tender or U.S.
Government Obligations held by them at any time. The Trustee and the Paying Agent shall pay to the Issuers, upon receipt by the Trustee or the Paying Agent, as the case may be, of a written request
from the Issuers any money held by it for the payment of principal, premium, if any, or interest that remains unclaimed for two years after payment to the Holders is required, without interest
thereon; provided, however, that the Trustee and the Paying Agent before being required to make any
payment may, but need not, at the expense of the Issuers cause to be published once in a newspaper of general circulation in The City of New York or mail to each Holder entitled to such money notice
that such money remains unclaimed and that after a date specified therein, which shall be at least thirty (30) days from the date of such publication or mailing, any unclaimed balance of such
money then remaining shall be repaid to the Issuers, without interest thereon. After payment to the Issuers, Holders entitled to money must look solely to the Issuers for payment as general creditors
unless an applicable abandoned property law designated another Person, and all liability of the Trustee or Paying Agent with respect to such money shall thereupon cease. 

        SECTION
8.07. Reinstatement. 

        If
the Trustee or Paying Agent is unable to apply any U.S. Legal Tender or U.S. Government Obligations in accordance with  Section 8.01 or 8.02 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 Issuers' obligations under this Indenture and the Notes shall be revived and reinstated as
though no deposit had occurred pursuant to Section 8.01 or 8.02 until such time as the Trustee or
Paying Agent is permitted to apply all such U.S. Legal Tender or U.S. Government Obligations in accordance with Section 8.01 or  8.02; provided, however, that if the Issuers have made
any payment of premium, if any, or interest on or principal of any Notes because of the reinstatement of their obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes
to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 

ARTICLE NINE

AMENDMENTS, SUPPLEMENTS AND WAIVERS  

        SECTION 9.01. Without Consent of Holders. 

        From
time to time, the Issuers, the Guarantors and the Trustee without the consent of the Holders, may amend, modify, waive or supplement provisions of this Indenture, the Notes, the
Guarantees and the Collateral Agreements: 

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

 

        (2)   to
provide for uncertificated Notes in addition to or in place of certificated Notes; 

        (3)   to
provide for the assumption of the Issuers' or a Guarantor's obligations to Holders in the case of a merger or consolidation involving the Issuers or such Guarantor or
sale of all or substantially all of the assets of the Issuers or such Guarantor or the release of a Guarantor to the extent permitted under this Indenture; 

        (4)   to
make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect the legal rights of any such Holder under this
Indenture, the Notes, the Guarantees or the Collateral Agreements; 

        (5)   to
comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 

        (6)   to
allow any Subsidiary or any other Person to guarantee the Notes; 

        (7)   if
necessary, in connection with any addition or release of Collateral permitted under the terms of this Indenture or Collateral Agreements; or 

        (8)   to
provide for the issuance of Additional Notes in accordance with the terms hereof, to the extent Indebtedness in an aggregate principal amount equal to the aggregate
principal amount of such Additional Notes to be issued could otherwise be incurred pursuant to this Indenture, without giving effect to such amendment, modification, waiver or supplement. 

        After
an amendment, supplement or waiver under this Section 9.01 becomes effective, the Issuers shall mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any such amendment, supplement or waiver. 

        SECTION
9.02. With Consent of Holders. 

        The
Issuers and the Guarantors, when authorized by a Board Resolution, and the Trustee, as applicable, together, with the written consent of the Holder or Holders of at least a majority
in aggregate principal amount of the outstanding Notes, may amend or supplement this Indenture, the Notes, any Collateral Agreement or the Guarantees without notice to any other Holders. The Holder or
Holders of a majority in aggregate principal amount of the outstanding Notes may waive compliance by the Issuers with any provision of this Indenture, any Collateral Agreement or the Notes without
notice to any other Holder. However, no amendment, supplement or waiver, including a waiver pursuant to Section 6.04, shall without the consent
of each Holder of each Note affected thereby: 

        (1)   reduce
the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver of any provision of this Indenture or the Notes; 

        (2)   reduce
the rate of or change or have the effect of changing the time for payment of interest or Additional Interest on any Notes; 

        (3)   reduce
the principal of or change or have the effect of changing the fixed maturity of any Notes, or change the date on which any Notes may be subject to redemption or
reduce the redemption price therefor or change the calculation of principal amount, except that the foregoing provision shall not apply to any amendment or waiver of the provisions of  Section 3.03
hereof; 

        (4)   make
any Notes payable in money other than that stated in the Notes; 

        (5)   make
any change in provisions of this Indenture protecting the right of each Holder to receive payment of principal of, premium, if any, interest and Additional
Interest, if any, on such Note on or after the due date thereof or to bring suit to enforce such payment, or permitting Holders of a majority in principal amount of Notes to waive Defaults or
Events of Default;

 

        (6)   after
the Issuers' obligation to purchase Notes arises thereunder, amend, change or modify in any material respect the obligation of the Issuers to make and consummate a
Change of Control Offer in the event of a Change of Control, make and consummate an Excess Cash Flow Offer if required to do so or make and consummate a Net Proceeds Offer with respect to any Asset
Sale that has been consummated or, after such Change of Control has occurred, the existence of Excess Cash Flow has
been determined or such Asset Sale has been consummated, modify any of the provisions or definitions with respect thereto; 

        (7)   modify
or change any provision of this Indenture or the related definitions affecting the ranking of the Notes or any Guarantee in a manner which adversely affects the
Holders; 

        (8)   release
any Guarantor that is a Significant Subsidiary from any of its obligations under its Guarantee or this Indenture otherwise than in accordance with the terms of
this Indenture; 

        (9)   release
all or substantially all of the Collateral; or 

        (10) make
any change to Section 9.01 or this Section 9.02. 

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

        After
an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuers shall mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any such amendment, supplement or waiver. 

        SECTION
9.03. Compliance with TIA. 

        Every
amendment, waiver or supplement of this Indenture, the Notes, the Collateral Agreements or the Guarantees shall comply with the TIA as then in effect. 

        SECTION
9.04. Revocation and Effect of Consents. 

        Until
an amendment, waiver or supplement becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Note or 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. Subject to the following paragraph, any such Holder or subsequent
Holder may revoke the consent as to such Holder's Note or portion of such Note by written notice to the Trustee and the
Issuers received before the date on which the Trustee receives an Officers' Certificate certifying that the Holders of the requisite principal amount of Notes have consented (and not theretofore
revoked such consent) to the amendment, supplement or waiver. An amendment, waiver or supplement shall become effective upon receipt by the Trustee of written consents from the Holders of the
requisite percentage in principal amount of the outstanding Notes or such Officers' Certificate, whichever first occurs, and the execution thereof by the Trustee. 

        The
Issuers 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, which record date
shall be either (i) at least thirty (30) days prior to the first solicitation of such consent or (ii) the date of the most recent list furnished to the Trustee under  Section 2.05. If
a record date is fixed, then notwithstanding the last sentence of the immediately preceding paragraph, those Persons who were
Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to 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 ninety (90) days after such record date. 

        After
an amendment, supplement or waiver becomes effective, it shall bind every Holder unless it makes a change described in any of clauses
(1) through (10) of Section 9.02, in which case, the

 
amendment, supplement or waiver shall bind only each Holder of a Note who has consented to it and every subsequent Holder of a Note or portion of a Note that evidences the same
debt as the consenting Holder's Note; provided that any such waiver shall not impair or affect the right of any Holder to receive payment of principal
of, premium, if any, and interest on a Note, on or after the respective due dates expressed in such Note, or to bring suit for the enforcement of any such payment on or after such respective dates
without the consent of such Holder. 

        SECTION
9.05. Notation on or Exchange of Notes. 

        If
an amendment, supplement or waiver changes the terms of a Note, the Trustee may require the Holder of the Note to deliver the Note to the Trustee. The Trustee at the
written direction of the Issuers may place an appropriate notation on the Note about the changed terms and return it to the Holder and the Trustee may place an appropriate notation on any
Note thereafter authenticated. Alternatively, if the Issuers or the Trustee so determines, the Issuers in exchange for the Note shall issue and the Trustee shall authenticate a new
Note that reflects the changed terms. Failure to make an appropriate notation, or issue a new Note, shall not affect the validity and effect of such amendment, supplement or waiver. Any such
notation or exchange shall be made at the sole cost and expense of the Issuers. Failure to make the appropriate notation or issue a new Note shall not effect the validity and effect of such
amendment, supplement or waiver. 

        SECTION
9.06. Trustee to Sign Amendments, Etc. 

        The
Trustee shall execute any amendment, supplement or waiver authorized pursuant to this Article Nine;  provided that the Trustee may, but shall not be
obligated to, execute any such amendment, supplement or waiver which affects the rights, duties or
immunities of the Trustee under this Indenture or any Collateral Agreement. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel and an
Officers' Certificate each stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article Nine is
authorized or permitted by this Indenture. Such Opinion of Counsel shall not be an expense of the Trustee and shall be paid for by the Issuers. 

        SECTION
9.07. Conformity with Trust Indenture Act. 

        Every
supplemental indenture executed pursuant to this Article Nine shall conform to the requirements of the TIA as then in effect. 

ARTICLE TEN

GUARANTEE  

        SECTION 10.01. Guarantee. 

        Each
Guarantor hereby fully, irrevocably and unconditionally, jointly and severally, unconditionally and irrevocably guarantees (such guarantee to be referred to herein as the
"Guarantee"), to each of the Holders and to the Trustee and its respective successors and assigns that (i) the principal of, premium, if any and
interest on the Notes shall be promptly paid in full when due, subject to any applicable grace period, whether upon redemption pursuant to the terms of the Notes, by acceleration or otherwise, and
interest on the overdue principal, if any, and interest on any interest, if any, to the extent lawful, of the Notes and all other obligations of the Issuers to the Holders and the Trustee hereunder,
thereunder or under any Collateral Agreement shall be promptly paid in full or performed, all in accordance with the terms hereof, thereof and of the Collateral Agreements; and (ii) in case of
any extension of time of payment or renewal of any of the Notes or of any such other obligations, the same shall be promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, subject to any applicable grace period, whether at stated maturity, by acceleration or otherwise, subject, however, in the case of clauses
(i) and (ii) above, to the limitations set forth in Section 10.03. The
Guarantee of each Guarantor shall rank senior in right of payment to all

 
subordinated Indebtedness of such Guarantor and equal in right of payment with all other senior obligations of such Guarantor. Each Guarantor hereby agrees that its obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of the Notes, this Indenture or any Collateral Agreement, the absence of any action to enforce the same, any waiver or consent
by any of the Holders with respect to any provisions hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Issuers, 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 Issuers, any right to require a proceeding first against the Issuers, 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, this Indenture and in this Guarantee. The obligations of each Guarantor are limited to the
maximum amount which, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, shall result in the obligations of such Guarantor
under the Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law. The net worth of any Guarantor for such purpose shall include any claim of such
Guarantor against the Issuers for reimbursement and any claim against any other Guarantor for contribution. Each Guarantor may consolidate with or merge into or sell its assets to the Issuers or
another Guarantor without limitation in accordance with Sections 5.01 and 4.13. If any Holder or
the Trustee is required by any court or otherwise to return to the Issuers, any Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to the Issuers or any
Guarantor, any amount paid by the Issuers or any Guarantor to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. Each
Guarantor further agrees that, as between each Guarantor, 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 Six 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 acceleration of such obligations as provided in  Article Six, such obligations (whether or not due
and payable) shall forthwith become due and payable by each Guarantor for the purpose of this
Guarantee. 

        SECTION
10.02. Release of a Guarantor. 

        A
Guarantor will be automatically and unconditionally released from its Guarantee (and may subsequently dissolve) without any action required on the part of the Trustee or any Holder: 

        (1)   if
(a) all of the Capital Stock issued by such Guarantor or all or substantially all of the assets of such Guarantor are sold or otherwise disposed of (including
by way of merger or consolidation) to a Person other than the Issuers or any of their Domestic Restricted Subsidiaries or (b) such Guarantor ceases to be a Restricted Subsidiary, and the
Issuers otherwise comply, to the extent applicable, with Section 4.13, or 

        (2)   if
the Issuers designate such Guarantor as an Unrestricted Subsidiary in accordance with Section 4.10, or 

        (3)   if
the Issuers exercise their legal defeasance option or their covenant defeasance option as described in  Section 8.01, or 

        (4)   upon
satisfaction and discharge of this Indenture or payment in full of the principal of, premium, if any, accrued and unpaid interest and Additional Interest, if any,
on the Notes and all other Obligations that are then due and payable.

 

        The
Trustee shall promptly deliver an appropriate instrument evidencing such release upon receipt of a request by the Issuers accompanied by an Officers' Certificate certifying as to the
compliance with this Section 10.02. Any Guarantor not so released remains liable for the full amount of its Guarantee as provided in this  Article Ten. 

        SECTION
10.03. Limitation of Guarantor's Liability. 

        Each
Guarantor and, by its acceptance hereof, each of the Holders hereby confirms that it is the intention of all such parties that the guarantee by such Guarantor pursuant to its
Guarantee not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar Federal or
state law. To effectuate the foregoing intention, the Holders and such Guarantor hereby irrevocably agree that
the obligations of such Guarantor under the Guarantee shall be limited to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of such Guarantor and after
giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under its Guarantee or pursuant to  Section 10.05,
result in the obligations of such Guarantor under the Guarantee not constituting such fraudulent transfer or conveyance.
 

        SECTION
10.04. Guarantors May Consolidate, etc., on Certain Terms. 

        Each
Guarantor (other than any Guarantor whose Guarantee is to be released in accordance with the terms of the Guarantee and this Indenture in connection with any transaction complying
with Section 4.13) will not, and the Issuers will not cause or permit any Guarantor to, consolidate with or merge with or into any Person other
than the Issuers or any other Guarantor unless: 

        (1)   the
entity formed by or surviving any such consolidation or merger (if other than the Guarantor) or to which such sale, lease, conveyance or other disposition shall have
been made is a limited liability company or corporation organized and existing under the laws of the United States or any State thereof or the District of Columbia; 

        (2)   such
entity assumes (a) by supplemental indenture (in form and substance satisfactory to the Trustee), executed and delivered to the Trustee, all of the
obligations of the Guarantor under the Guarantee and (b) by amendment, supplement or other instrument (in form and substance satisfactory to the Trustee) executed and delivered to the Trustee,
all obligations of the Guarantor under the Collateral Agreements and in connection therewith shall cause such instruments to be filed and recorded in such jurisdictions and take such other actions as
may be required by applicable law to perfect or continue the perfection of the Lien created under the Collateral Agreements on the Collateral owned by or transferred to the surviving entity; 

        (3)   immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and 

        (4)   immediately
after giving effect to such transaction and the use of any net proceeds therefrom on a pro forma basis, the Company could satisfy the provisions of  Section 5.01(2). 

        Any
merger or consolidation of (i) a Guarantor with and into an Issuer (with the Issuer being the surviving entity) or another Guarantor or (ii) a Guarantor or the Issuers
with an Affiliate organized solely for the purpose of reorganizing such Guarantor or the Issuers in another jurisdiction in the United States or any state thereof or the District of Columbia or
changing the legal form of such Guarantor or the Issuers need only comply with (A) clause (4) of the first paragraph of  Section 5.01 and
(B) in the case of a merger or consolidation involving (x) the Issuers as described in
clause (ii) above, clause 1(b)(y) of  Section 5.01 and (y) in the case of a Guarantor as
described in clause (ii) above,  clause (2) of the immediately preceding paragraph.

 

        SECTION
10.05. Contribution. 

        In
order to provide for just and equitable contribution among the Guarantors, the Guarantors agree, inter se, that each Guarantor that makes a payment or distribution under a Guarantee
shall be entitled to a pro rata contribution from each other Guarantor hereunder based on the net assets of each other Guarantor. The preceding sentence
shall in no way affect the rights of the Holders of Notes or the Trustee to the benefits of this Indenture, the Notes or the Guarantees. 

        SECTION
10.06. Waiver of Subrogation. 

        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. 

        SECTION
10.07. Evidence of Guarantee. 

        To
evidence their guarantees to the Holders set forth in this Article Ten, each of the Guarantors hereby agrees to execute the
notation of Guarantee in substantially the form included in the Notes attached as Exhibits A-1 and  A-2 and B-1 and B-2.
Each such notation of Guarantee shall be signed on behalf of each Guarantor by an Officer or an assistant Secretary. An Officer (who shall, in each case, have been duly authorized by all requisite
corporate actions) of the Guarantors shall execute the Guarantees by manual or facsimile signature. 

        If
an Officer whose signature is on a Note was an Officer at the time of such execution but no longer holds that office or position at the time the Trustee authenticates such
Note, such Note shall nevertheless be valid. 

        Each
Guarantor hereby agrees that its Guarantee set forth in Section 10.01 shall remain in full force and effect notwithstanding
any failure to endorse on each Note a notation of such Guarantee. 

        If
an Officer or assistant Secretary whose signature is on this Indenture or on the Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a
Guarantee is endorsed, 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
10.08. Waiver of Stay, Extension or Usury Laws. 

        Each
Guarantor covenants to the extent permitted by law that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay
or extension law or any usury law or other law that would prohibit or forgive such Guarantor from performing its Guarantee as contemplated herein, wherever enacted, now or at any time hereafter in
force, or which may affect the covenants or the performance of this Guarantee; and each Guarantor hereby expressly waives to the extent permitted by law all benefit or advantage of any such law, and
covenants that it shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had
been enacted. 

ARTICLE ELEVEN

MISCELLANEOUS  

        SECTION 11.01. Trust Indenture Act Controls. 

        If
any provision of this Indenture limits, qualifies, or conflicts with another provision which is required to be included in this Indenture by the TIA, the required provision shall
control. Any provision of the TIA which is required to be included in a qualified Indenture, but not expressly included herein, shall be deemed to be included by this reference.

 

        SECTION
11.02. Notices. 

        Any
notices or other communications required or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand delivery, by telex, by telecopier or registered
or certified mail, postage prepaid, return receipt requested, addressed as follows: 

if
to the Issuers: 

Mrs. Fields
Famous Brands, LLC

2855 East Cottonwood Parkway, Suite 400

Salt Lake City, Utah 84121-1050

Attention: Michael R. Ward, Esq.

Facsimile Number: (801) 736-5944 

Mrs. Fields
Financing Company, Inc.

2855 East Cottonwood Parkway, Suite 400

Salt Lake City, Utah 84121-1050

Attention: Michael R. Ward, Esq.

Facsimile Number: (801) 736-5944 

if
to the Trustee: 

The
Bank of New York

101 Barclay Street, Floor 8 West

New York, New York 10286

Attn: Corporate Trust Administration

Facsimile Number: (212) 815-5707 

        Each
of the Issuers and the Trustee by written notice to each other may designate additional or different addresses for notices to such Person. Any notice or communication to the Issuers
or the Trustee shall be deemed to have been given or made as of the date so delivered if personally delivered; when answered back, if telexed; when receipt is acknowledged, if faxed; and five
(5) calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of change of
address or a notice sent by mail to the Trustee shall not be deemed to have been given until actually received by the addressee). 

        Any
notice or communication mailed to a Holder shall be mailed to such Holder by first class mail or other equivalent means at such Holder's address as it appears on the registration
books of the Registrar and shall be sufficiently given to such Holder if so mailed within the time prescribed. 

        Failure
to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the
manner provided above, it is duly given, whether or not the addressee receives it. 

        SECTION
11.03. Communications by Holders with Other Holders. 

        Holders
may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture, any Collateral Agreement, any Guarantee or the
Notes. The Issuers, the Trustee, the Registrar and any other Person shall have the protection of TIA Section 312(c). 

        SECTION
11.04. Certificate and Opinion as to Conditions Precedent. 

        Upon
any request or application by the Issuers or any Guarantor to the Trustee to take any action under this Indenture or any Collateral Agreement, the Issuers shall furnish to the
Trustee upon request: 

        (1)   an
Officers' Certificate, in form and substance reasonably satisfactory to the Trustee, stating that, in the opinion of the signers, all conditions precedent to be
performed by the Issuers

 
or the applicable Guarantor (as the case may be), if any, provided for in this Indenture or any Collateral Agreement relating to the proposed action have been complied with; and 

        (2)   an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent to be performed by the Issuers or the applicable Guarantor (as the case
may be), if any, provided for in this Indenture or any Collateral Agreement relating to the proposed action have been complied with. 

        SECTION
11.05. Statements Required in Certificate or Opinion. 

        Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture or any Collateral Agreement, other than the Officers' Certificate
required by Section 4.06, shall include: 

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

        (2)   a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are
based; 

        (3)   a
statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been complied with; and 

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

        SECTION
11.06. Rules by Trustee, Paying Agent, Registrar. 

        The
Trustee may make reasonable rules in accordance with the Trustee's customary practices for action by or at a meeting of Holders. The Paying Agent or Registrar may make reasonable
rules for its functions. 

        SECTION
11.07. Legal Holidays. 

        A
"Legal Holiday" used with respect to a particular place of payment is a Saturday, a Sunday or a day on which banking institutions in New
York, New York or at such place of payment are not required to be open. If a payment date is a Legal Holiday at such place, payment may be made at such place on the next succeeding day that is not a
Legal Holiday, and no interest shall accrue for the intervening period. 

        SECTION
11.08. Governing Law. 

        THIS
INDENTURE, THE NOTES AND THE GUARANTEES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN
THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE. 

        SECTION
11.09. No Adverse Interpretation of Other Agreements. 

        This
Indenture may not be used to interpret another indenture, loan or debt agreement of the Issuers or any of their Subsidiaries. Any such indenture, loan or debt agreement may not be
used to interpret this Indenture. 

   
        SECTION 11.10. No Recourse Against Others. 

        A
past, present or future director, officer, employee, stockholder or incorporator, as such, of the Issuers or of the Trustee shall not have any liability for any obligations of the
Issuers or the Guarantors under the Notes, the Guarantees, the Collateral Agreements 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 a Note, waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes. 

        SECTION
11.11. Successors. 

        All
agreements of the Issuers and the Guarantors in this Indenture, the Notes, and the Guarantees shall bind their successors. All agreements of the Trustee in this Indenture shall bind
their respective successors. 

        SECTION
11.12. Duplicate Originals. 

        All
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together shall represent the same agreement. 

        SECTION
11.13. Severability. 

        In
case any one or more of the provisions in this Indenture, the Notes or in the Guarantees shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all of the
provisions hereof shall be enforceable to the full extent permitted by law. 

        SECTION
11.14. Waiver of Jury Trial. 

        EACH
OF THE ISSUERS AND THE GUARANTORS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR IN
CONNECTION WITH THIS INDENTURE, THE NOTES, THE GUARANTEES, THE COLLATERAL AGREEMENTS OR THE TRANSACTIONS CONTEMPLATED BY THIS INDENTURE. 

ARTICLE TWELVE

SECURITY  

        SECTION 12.01. Grant of Security Interest. 

        (a)   To
secure the due and punctual payment of the principal of, premium, if any, and interest on the Notes and amounts due hereunder and under the Guarantees when and as the
same shall be due and payable, whether on an Interest Payment Date, by acceleration, purchase, repurchase, redemption or otherwise, and interest on the overdue principal of, premium, if any, and
interest (to the extent permitted by law), if any, on the Notes and the performance of all other Obligations of the Issuers and the Guarantors to the Holders or the Trustee under this Indenture, the
Collateral Agreements, the Guarantees and the Notes, the Issuers and the Guarantors hereby covenant to cause the Collateral Agreements to be executed and delivered concurrently with this Indenture.
The Collateral Agreements shall provide for the grant by the Issuers and Guarantors party thereto to the Trustee security interests in the Collateral. 

        (b)   Each
Holder, by its acceptance of a Note, consents and agrees to the terms of each Collateral Agreement, as the same may be in effect or may be amended from time to time
in accordance with their respective terms, and authorizes and directs the Trustee to enter into the Collateral Agreements and to perform its obligations and exercise its rights thereunder in
accordance therewith. The Issuers shall, and shall cause each of their Domestic Restricted Subsidiaries to, do or cause to be done all such

 
actions and things as may be necessary or proper, or as may be required by the provisions of the Collateral Agreements, to assure and confirm to the Trustee the security interests in the Collateral
contemplated hereby and by the Collateral Agreements, as from time to time constituted, so as to render the same available for the security and benefit of this Indenture and of the Notes and
Guarantees secured hereby, according to the intent and purpose herein and therein expressed. The Issuers shall, and shall cause each of their Domestic Restricted Subsidiaries to, take any and all
actions required or as may be requested by the Trustee to cause the Collateral Agreements to create and maintain, as security for the Obligations contained in this Indenture, the Notes, the Collateral
Agreements and the Guarantees valid and enforceable, perfected (except as expressly provided herein or therein) security interests in and on all the Collateral, in favor of the Trustee, superior to
and prior to the rights of all third Persons, and subject to no other Liens, in each case, except as expressly provided herein or therein. 

        SECTION
12.02. Recording and Opinions. 

        (a)   The
Issuers shall, and shall cause each of their Domestic Restricted Subsidiaries to, take or cause to be taken all action required to perfect, maintain, preserve and
protect the security interests in the Collateral granted by the Collateral Agreements, including (i) the filing of financing statements, continuation statements, collateral assignments and any
instruments of further assurance, in such manner and in such places as may be required by law to preserve and protect fully the rights of the Holders and the Trustee under this Indenture and the
Collateral Agreements to all property comprising the Collateral, and (ii) the delivery of the certificates evidencing the securities pledged under the Security Agreement or the Pledge
Agreement, duly endorsed in blank, it being understood that concurrently with the execution of this Indenture the Issuers and their Domestic Restricted Subsidiaries have delivered financing statements
for filing by the Initial Purchaser or its agents. The Issuers shall from time to time promptly pay all financing and continuation statement recording and/or filing fees, charges and recording and
similar taxes relating to this Indenture, the Collateral Agreements and any amendments hereto or thereto and any other instruments of further assurance required pursuant hereto or thereto. 

        (b)   The
Issuers shall furnish to the Trustee, at such time as required by TIA Section 314(b) and, as reasonably requested by the Trustee, promptly after the
execution and delivery of any other instrument of further assurance or amendment granting, perfecting, protecting, preserving or making effective a security interest pursuant to any Collateral
Agreement, an Opinion of Counsel either (i) stating that, in the opinion of such counsel, this Indenture and the Collateral Agreements, financing statements and fixture filings then executed
and delivered, as applicable, and all other instruments of further assurance or amendment then executed and delivered have been properly recorded, registered and filed, and all certificates evidencing
securities pledged to the Trustee for the benefit of itself and the Holders under the Security Agreement or the Pledge Agreement have been delivered and duly endorsed in blank, to the extent necessary
to perfect the security interests created by this Indenture and the Collateral Agreements and reciting the details of such action or referring to prior Opinions of Counsel in which such details are
given, and stating that as to such Collateral Agreements and such other instruments, such recording, registering, filing and delivery are the only recordings, registerings, filings and deliveries
necessary to perfect such security interest and that no re-recordings, re-registerings, re-filings or re-deliveries are necessary to maintain such
perfection, and further stating that all financing statements and continuation statements have been executed and filed, and all such certificates have been delivered, that are necessary fully to
preserve and protect the rights of and perfect such security interests of the Trustee for the benefit of itself and the Holders, under the Collateral Agreements or (ii) stating that, in the
Opinion of such Counsel, no such action is necessary to perfect any security interest created under this Indenture, the Notes or any of the Collateral Agreements as intended by this Indenture, the
Notes or any such Collateral Agreement.

 

        (c)   Annually,
within thirty (30) days after January 1 of each year and beginning with the year 2005, the Issuers shall furnish to the Trustee, an Opinion of
Counsel, dated as of such date, either (i) stating that: (A) in the opinion of such counsel, action has been taken with respect to the registering, recording, filing,
re-recording, re-registering and refiling of this Indenture, and all supplemental indentures, financing statements, continuation statements and other documents, and delivery of
all certificates, as are then necessary to perfect or continue the perfection of the security interests created by the Collateral Agreements and reciting the details of such action or referring to
prior Opinions of Counsel in which such details are given; and (B) based on relevant laws as in effect on the date of such Opinion of Counsel, all financing statements, continuation statements
and other documents have been executed and filed that are necessary as of such date and during the succeeding twenty-four (24) months fully to maintain, perfect or continue the
perfection of such security interests under the Collateral Agreements with respect to the Collateral and to maintain, preserve, and protect the rights of the Holders and the Trustee hereunder and
under the Collateral Agreements or (ii) stating that, in the opinion of such counsel, no such action is then necessary to perfect or continue the perfection of such security interests. 

        SECTION
12.03. Release of Collateral. 

        (a)   The
Trustee shall not at any time release Collateral from the security interests created by the Collateral Agreements unless such release is in accordance with the
provisions of this Indenture and the applicable Collateral Agreements. 

        (b)   At
any time when a Default or an Event of Default shall have occurred and be continuing, no release of Collateral pursuant to the provisions of this Indenture and the
Collateral Agreements shall be effective as against the Holders. 

        (c)   The
release of any Collateral from the terms of the Collateral Agreements shall not be deemed to impair the security under this Indenture in contravention of the
provisions hereof if and to the extent the Collateral is released pursuant to this Indenture and the Collateral Agreements. Except as provided by  Section 12.04 below, to the extent applicable, the
Issuers shall cause TIA Section 314(d) relating to the release of property from
the security interests created by this Indenture and the Collateral Agreements to be complied with. Any certificate or opinion required by TIA Section 314(d) may be made by an Officer of
the Issuers, except in cases where TIA Section 314(d) requires that such certificate or opinion be made by an independent Person, which Person shall be an independent engineer, appraiser
or other expert selected or approved by the Trustee in the exercise of reasonable care. A Person is "independent" if such Person (a) is in fact independent, (b) does not have any direct
financial interest or any material indirect financial interest in the Issuers or in any Affiliate of the Issuers and (c) is not an officer, employee, promoter, underwriter, trustee, partner or
director or person performing similar functions to any of the foregoing for the Issuers. The Trustee shall be entitled to receive and conclusively rely upon a certificate provided by any such Person
confirming that such Person is independent within the foregoing definition. 

        (d)   Notwithstanding
any provision to the contrary herein, Collateral comprised of accounts receivable, inventory or (prior to the occurrence and during the continuance of an
Event of Default) the proceeds of the foregoing shall be subject to release upon sales of such inventory and collection of the proceeds of such accounts receivable in the ordinary course of business.
If requested in writing by the Issuers, the Trustee shall execute and deliver such documents, instruments or statements and to take such other action as the Issuers may reasonably request to evidence
or confirm that the Collateral falling under this Section 12.03 and Section 12.04 below
has been released from the Liens of each of the Collateral Agreements.

 

        SECTION
12.04. Disposition of Certain Collateral without Requesting Release. 

        (a)   In
the case of transactions permitted by Section 12.04(c) hereof, the Issuers shall deliver to the Trustee, within
15 days after the end of each of the six-month periods ended on June 30 and December 31 in each year, an Officers' Certificate to the effect that all transactions
effected pursuant to Section 12.04(c) hereof during the preceding six-month period were made in the ordinary course of business and
that all proceeds therefrom were used by the Issuers as permitted herein. The Issuers shall provide the Trustee with a copy of any exemption granted by the SEC and promptly inform the Trustee of any
rescission or termination of, or amendment to such exemption. 

        (b)   The
fair value of Collateral released from the Liens granted under the Collateral Agreements pursuant to  Section 12.04(c) hereof shall not be considered in determining whether the aggregate fair value
of Collateral released from the Liens granted
under the Collateral Agreements in any calendar year exceeds the 10% threshold specified in Section 314(d)(1) of the TIA; provided that the Issuers' right to rely on this sentence at any
time is conditioned upon the Issuers having furnished to the Trustee all certificates described in Section 12.04(a) hereof that were required to
be furnished to the Trustee at or prior to such time. 

        (c)   As
long as the Issuers are in compliance with the provisions of Section 12.04(a) hereof, the Issuers may, pursuant
to and in accordance with this Indenture and the Collateral Agreements, without requesting the release or consent of the Trustee: 

        (i)    sell
or dispose of in the ordinary course of business free from the Liens granted under the Collateral Agreements, any machinery, equipment, furniture, apparatus, tools
or implements, materials or supplies or other similar property ("Subject Property") which, in its reasonable opinion, may have become obsolete, worn-out, surplus or no longer used in the
conduct of its businesses or the operation granted under the Collateral upon replacing the same with, or substituting for the same, new Subject Property constituting Collateral not necessarily of the
same character but being of at least equal value and utility as the Subject Property so disposed of as long as such new Subject Property becomes
subject to the Liens granted under the Collateral Agreements, which new subject Property shall without further action become Collateral subject to the Liens granted under the Collateral Agreements; 

        (ii)   abandon,
sell, assign, transfer, license or otherwise dispose of in the ordinary course of business any personal property the use of which is no longer necessary or
desirable in the proper conduct of the business of the Issuers and the maintenance of its earnings and is not material to the conduct of the business of the Issuers and their Subsidiaries taken as a
whole; 

        (iii)  grant
in the ordinary course of business, rights-of-way and easements over or in respect of any of the Issuers' real property, provided that
such grant will not, in the reasonable opinion of the Issuers' Boards of Directors, impair the usefulness of such property in the conduct of the Issuers' business, and will not be prejudicial to the
interests of the Holders; 

        (iv)  sell,
transfer or otherwise dispose of inventory in the ordinary course of business; 

        (v)   sell,
collect, liquidate, factor or otherwise dispose of Accounts (as defined in the Security Agreement) and accounts receivable in the ordinary course of business; and 

        (vi)  make
cash payments (including for the scheduled repayment of Indebtedness) from cash that is at any time part granted under the Collateral in the ordinary course of
business that are not otherwise prohibited by this Indenture or any Collateral Agreement. 

        (d)   To
the extent the Issuers have not complied with Section 12.04(a) hereof, the Issuers shall not dispose of or
transfer (by lease, assignment, sale or otherwise), in any transaction or any series of related transactions, Collateral pursuant to the provisions of  Section 12.04(c) hereof with a fair value

 
equal to 10% or more of the aggregate outstanding principal amount of the Notes (as determined in the good faith judgment of the Issuers and, if required by the TIA, an independent appraiser). 

        SECTION
12.05. Specified Releases of Collateral. 

        (a)   The
Issuers and the Guarantors shall be entitled to obtain a full release of items of Collateral (the "Released
Interests") from the security interests created by this Indenture, the Notes and the Collateral Agreements upon compliance with the conditions precedent set forth in  Section 4.13, 8.01 or 8.02 of this Indenture and
the applicable Collateral Agreements. So long as no Default or Event of Default exists, upon the request of the Issuers or any Guarantor and the furnishing of each of the items required by  Section 12.04(b), the Trustee shall forthwith take such action (at the request of and the expense of the Issuers or such Guarantor, without
recourse or warranty and without any representation of any kind), including the delivery of appropriate UCC-3 termination statements, to release and reconvey to such Issuer or such
Guarantor all of the Released Interests, and shall deliver such Released Interests in its possession to such Issuer or such Guarantor. 

        (b)   So
long as no Default or Event of Default exists, the Issuers and the Guarantors shall be entitled to obtain a release of, and the Trustee shall release, the Released
Interests upon compliance with the condition precedent that such Issuer or such Guarantor shall have satisfied all applicable conditions precedent to any such release set forth in this Indenture and
the applicable Collateral Agreements as set forth in an Officers' Certificate and an Opinion of Counsel delivered to the Trustee and shall have delivered to the Trustee the following, as applicable: 

        (i)    in
connection with release of Collateral resulting from an Asset Sale under Section 4.13, notice from the Issuers
requesting the release of Released Interests: (A) describing the proposed Released Interests; (B) specifying the estimated value of such Released Interests on a date within sixty
(60) days of such notice (the "Valuation Date"); (C) stating that the purchase price received is at least equal to the fair market value
of the Released Interests; (D) stating that the release of such Released Interests, taking into account any concurrent replacement of such assets, would not be expected to interfere in any
material respect with the Trustee's ability to realize the value of the remaining Collateral and shall not impair in any material respect the maintenance and operation of the remaining Collateral; and
(E) certifying that such Asset Sale complies with the terms and conditions of this Indenture with respect thereto and the applicable Collateral Agreements with respect thereto; 

        (ii)   in
connection with release of Collateral resulting from an Asset Sale under Section 4.13, an Officers'
Certificate of each Issuer stating that (A) such Asset Sale covers only the Released Interests and complies with the terms and conditions of this Indenture with respect to Asset Sales;
(B) there is no Default or Event of Default in effect or continuing on the date thereof, the Valuation Date or the date of such Asset Sale; (C) the release of the Collateral shall not
result in a Default or Event of Default under this Indenture; and (D) all conditions precedent in this Indenture relating to the release in question have been or shall be complied with. 

        (iii)  in
connection with release of Collateral resulting from an Asset Sale under Section 4.13, the Net Cash Proceeds
and other non-cash consideration from the Asset Sale required to be delivered to the Trustee pursuant to this Indenture; 

        (iv)  to
the extent required by the TIA, an Officers' Certificate of the Issuers and an Opinion of Counsel certifying that all conditions precedent to the release of the
Released Interests have been met and that
such release complies with the terms and conditions of this Indenture and the applicable Collateral Agreements; and 

        (v)   all
applicable certificates, opinions and other documentation required by the TIA or this Indenture, if any.

 

        If
the Issuers or any Domestic Restricted Subsidiary engage in any direct or indirect sale, issuance, conveyance, transfer, lease, assignment or other transfer for value of any
Collateral of the type described in clause (a), (c), (d), (e), (f), (g), (h), (i), (j) or (k) of the proviso to the definition of the term "Asset Sale," the Liens of the Trustee
on such Collateral shall automatically terminate and be released without any action by the Trustee, and the Trustee shall, at the sole cost and expense of the Issuers or such Domestic Restricted
Subsidiary, execute and deliver to the Issuers or such Domestic Restricted Subsidiary such documents, without any representation, warranty or recourse of any kind whatsoever, as such Issuer or such
Domestic Restricted Subsidiary shall reasonably request to effect or evidence such termination. 

        SECTION
12.06. Release upon Satisfaction or Defeasance of all Outstanding Obligations. 

        The
Liens on, and pledges of, all Collateral will also be terminated and released without any action of the Trustee upon (i) payment in full of the principal of, premium, if any,
on, accrued and unpaid interest and Additional Interest, if any, on the Notes and all other Obligations hereunder, the Guarantees and the Collateral Agreements that are due and payable at or prior to
the time such principal, premium, if any, accrued and unpaid interest and Additional Interest, if any, are paid, (ii) a satisfaction and discharge of this Indenture as described above under  Section 8.02 and (iii) the occurrence of a legal defeasance or covenant defeasance as described above under
Section 8.01. The Trustee shall, at the sole cost and expense of the Issuers or such Domestic Restricted Subsidiary, execute and deliver to the
Issuers or such Domestic Restricted Subsidiary such documents, without any representation, warranty or recourse of any kind whatsoever, as such Issuer or such Domestic Restricted Subsidiary shall
reasonably request to effect or evidence such termination. 

        SECTION
12.07. Form and Sufficiency of Release. 

        In
the event that the Issuers or any Guarantor has sold, exchanged, or otherwise disposed of or proposes to sell, exchange or otherwise dispose of any portion of the Collateral that may
be sold, exchanged or otherwise disposed of by such Issuer or such Guarantor, and such Issuer or such Guarantor requests the Trustee to furnish a written disclaimer, release or quit-claim
of any interest in such property under this Indenture and the Collateral Agreements, the Trustee shall
execute, acknowledge and deliver to the Issuers or such Guarantor (in proper form prepared by the Issuer or such Guarantor) such an instrument promptly after satisfaction of the conditions set forth
herein for delivery of any such release. Notwithstanding the preceding sentence, all purchasers and grantees of any property or rights purporting to be released herefrom shall be entitled to rely upon
any release executed by the Trustee hereunder as sufficient for the purpose of this Indenture and as constituting a good and valid release of the property therein described from the Lien of this
Indenture or of the Collateral Agreements. 

        SECTION
12.08. Purchaser Protected. 

        No
purchaser or grantee of any property or rights purporting to be released herefrom shall be bound to ascertain the authority of the Trustee to execute the release or to inquire as to
the existence of any conditions herein prescribed for the exercise of such authority; nor shall any purchaser or grantee of any property or rights permitted by this Indenture to be sold or otherwise
disposed of by the Issuers be under any obligation to ascertain or inquire into the authority of the Issuers to make such sale or other disposition. 

        SECTION
12.09. Authorization of Actions to Be Taken by the Trustee Under the Collateral Agreements. 

        Subject
to the provisions of the applicable Collateral Agreements, (a) the Trustee shall execute and deliver the Collateral Agreements and act in accordance with the terms
thereof, (b) the Trustee may, in its sole discretion and without the consent of the Holders, take all actions it deems necessary or appropriate in order to (i) enforce any of the terms
of the Collateral Agreements and (ii) collect and

 
receive any and all amounts payable in respect of the Obligations of the Issuers and the Guarantors hereunder and under the Notes, the Guarantees and the Collateral Agreements and (c) the
Trustee shall have power to institute and to maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any act that may be unlawful or in violation of
the Collateral Agreements or this Indenture, and suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders in the Collateral
(including the power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be
unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest thereunder or be prejudicial to the interests of the
Holders or the Trustee). Notwithstanding the foregoing, the Trustee may, at the expense of the Issuers, request the direction of the Holders with respect to any such actions and upon receipt of the
written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Notes, shall take such actions. 

        SECTION
12.10. Authorization of Receipt of Funds by the Trustee Under the Collateral Agreements. 

        The
Trustee is authorized to receive any funds for the benefit of itself and the Holders distributed under the Collateral Agreements to make further distributions of such funds to itself
and the Holders in accordance with the provisions of Section 6.11 and the other provisions of this Indenture. 

SIGNATURES  

        IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as of the date first written above. 

	

 	
 	

MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

MRS. FIELDS FRANCHISING, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

PRETZEL TIME FRANCHISING, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

PRETZELMAKER FRANCHISING, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President

	

 	
 	

TCBY SYSTEMS, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

MRS. FIELDS GIFTS, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

THE MRS. FIELDS' BRAND, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

TCBY INTERNATIONAL, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President
	

 	
 	

TCBY OF TEXAS, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      
 Name: Michael Ward

Title: Senior Vice President

	

 	
 	

THE BANK OF NEW YORK, as Trustee
	

 	
 	

By:	
 	

/s/  MICHAEL PITFICK      
 Name: Michael Pitfick

Title: Assistant Vice President
	

 	
 	

THE BANK OF NEW YORK TRUST COMPANY, N.A., as Co-Trustee (Solely for the purpose of acknowledging its appointment under Section 7.13(a))
	

 	
 	

By:	
 	

 Name:

Title:

   EXHIBIT A-1  

[FORM OF 111/2% NOTE]  

        THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR
ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 

        THE
HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT (A) IT IS A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT),
(B) IT IS A NON-U.S. PURCHASER AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AND (2) AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND
THE LAST DATE ON WHICH THE ISSUERS OR ANY AFFILIATE OF THE ISSUERS WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUERS OR ANY SUBSIDIARY THEREOF,
(B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PURCHASERS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR
FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUERS' AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER,
SALE OR TRANSFER PURSUANT TO CLAUSE (C), (D) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. IN EACH OF THE
FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY SHALL BE COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

 

MRS. FIELDS FAMOUS BRANDS, LLC

MRS. FIELDS FINANCING COMPANY, INC.  

 111/2% SENIOR SECURED NOTES DUE 2011  

	CUSIP No.	 	 
	No.	 	$                        

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company, and Mrs. Fields Financing Company, Inc., a Delaware corporation, for value received promise to
pay to                        , or registered assigns, the principal sum
of                        DOLLARS ($[            ]) on March 15,
2011. 

        Interest
Rate: 111/2% 

        Interest
Payment Dates: March 15 and September 15, commencing September 15. 

        Record
Dates: March 1 and September 1 

        Reference
is made to the further provisions of this Note contained on the reverse side of this Note, which will for all purposes have the same effect as if set forth at this
place. 

        IN
WITNESS WHEREOF, the Issuers have caused this Note to be signed manually or by facsimile by its duly authorized officer. 

	

 	
 	

MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC.
	

 	
 	

By:	
 	

 Name:

Title:

Dated:            ,
2004 

 

TRUSTEE CERTIFICATE OF AUTHENTICATION  

        This is one of the 111/2% Senior Secured Notes due 2011 referred to in the within-mentioned Indenture. 

	

 	
 	

THE BANK OF NEW YORK, as Trustee
	

Dated:            , 2004	
 	

By:	
 	

 Authorized Signatory

 

(REVERSE
OF SECURITY) 

111/2% Senior Secured Note due 2011  

        1.    Single Class of Notes.    The 111/2% Notes have the same terms as the 9% Notes, except
that the 111/2% Notes bear a different interest rate and have different optional redemption premiums than the 9% Notes. The 111/2% Notes and the 9% Notes are treated as a
single class for all purposes under the Indenture. The 111/2% Notes, together with the 9% Notes, are collectively referred to herein as the Notes. 

        2.    Interest.    Mrs. Fields Famous Brands, LLC, a Delaware limited liability company (the
"Company", which term includes any Successor Entity) and Mrs. Fields Financing Company, Inc., a Delaware corporation (the
"Co-Issuer", together with the Company, the "Issuers"), promise to pay interest on the
principal amount of this 111/2% Note at the rate per annum shown above. Interest on the 111/2% Note will accrue from the most recent date on which interest
has been paid or, if no interest has been paid, from and including the date of issuance. The Issuers will pay interest semi-annually in arrears on each Interest Payment Date, commencing
September 15, 2004. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

        3.    Method of Payment.    The Issuers shall pay interest on the 111/2% Notes (except defaulted
interest) to the Persons who are the registered Holders at the close of business on the Record Date immediately preceding the Interest Payment Date even if the 111/2% Notes are
cancelled on registration of transfer or registration of exchange after such Record Date, and on or before such Interest Payment Date. Holders must surrender 111/2% Notes to a Paying
Agent to collect principal payments. The Issuers shall pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts
("U.S. Legal Tender"). However, the Issuers may pay principal and interest by check payable in such U.S. Legal Tender. The Issuers may deliver any such
interest payment to the Paying Agent or to a Holder at the Holder's registered address. 

        4.    Paying Agent and Registrar.    Initially, The Bank of New York (the
"Trustee") will act as Paying Agent and Registrar. The Issuers may change any Paying Agent, Registrar or co-Registrar without notice to the
Holders. The Company may act as Paying Agent or Registrar. 

        5.    Indenture.    The 111/2% Notes and the Guarantees were issued under an Indenture, dated as of
March 16, 2004 (the "Indenture"), among the Issuers, the Guarantors named therein and the Trustee. The terms of the 111/2% Notes
include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the
"TIA"), as in effect on the date of the Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date
on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the 111/2% Notes are subject to all such terms, and Holders of 111/2%
Notes are referred to in the Indenture and the TIA for a statement of such terms. The 111/2% Notes are senior secured obligations of the Issuers. Each Holder, by accepting a
111/2% Note, agrees to be bound by all of the terms and provisions of the Indenture, as the same may be amended from time to time. Capitalized terms herein are used as defined in the
Indenture unless otherwise defined herein. 

        6.    Redemption on or After March 15, 2008.    

        (a)    Optional Redemption.    Except as described in Section 6(b), the 111/2% Notes are not
redeemable before March 15, 2008. Thereafter, the Issuers may on any one or more occasions redeem the 111/2% Notes. The 111/2% Notes will be redeemed at their
option, in whole or in part, upon not less than 30 nor more than 60 days' notice, at the following redemption prices (expressed as percentages of

 
the aggregate principal amount thereof) if redeemed during the twelve-month period commencing on March 15 of the year set forth below: 

	Year
 
	 	Percentage
	 
	2008	 	105.750	%
	2009	 	102.875	%
	2010 and each year thereafter	 	100.000	%

        In
addition, the Issuers must pay accrued and unpaid interest and Additional Interest, if any, on the aggregate principal amount of the Notes redeemed. 

        (b)    Optional Redemption upon Equity Offerings.    At any time, or from time to time, on or prior to
March 15, 2007, the Issuers may, at their option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the
Notes ever issued under this Indenture. The 111/2% Notes will be redeemed at a redemption price of 111.500% of the aggregate principal amount thereof, plus accrued and unpaid interest
and Additional Interest, if any, to the date of redemption, provided that: 

        (1)   at
least 65% of the original principal amount of Notes ever issued under this Indenture remains outstanding immediately after any such redemption; and 

        (2)   the
Issuers make such redemption not more than 120 days after the consummation of any such Equity Offering. 

        (c)   Any
redemption by the Issuers of the 111/2% Notes pursuant to Section 6(a) or 6(b) above will be on a pro rata basis with the 9% Notes. 

        (d)    Notice of Redemption.    Notice of redemption will be mailed by first-class mail at least 30 days but
not more than 60 days before the Redemption Date to each Holder of 111/2% Notes to be redeemed at such Holder's registered address. If fewer than all of the Notes are to be
redeemed, at any time, selection of Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are
listed, or, if the Notes are not so listed, on a pro rata basis, by lot or by such method as the Trustee deems to be fair and appropriate; provided that
no partial redemption will reduce the principal amount of a Note not redeemed to a denomination of less than $1,000; and provided,  further, that any
such partial redemption made with the proceeds of an Equity Offering will be made only on a pro rata basis or on as nearly a pro rata
basis as practicable (subject to the procedures of the DTC or any other depository) unless such method is otherwise prohibited. Notes in denominations of $1,000 or more may be redeemed in part. 

        Except
as set forth in the Indenture, if monies for the redemption of the 111/2% Notes called for redemption shall have been deposited with the Paying Agent for redemption
on such redemption date sufficient to pay such redemption price plus accrued and unpaid interest and Additional Interest, if any, the 111/2% Notes called for redemption will cease to
bear interest from and after such redemption date, and the only remaining right of the Holders of such 111/2% Notes will be to receive payment of the redemption price plus accrued and
unpaid interest and Additional Interest, if any, as of the redemption date upon surrender to the Paying Agent of the 111/2% Notes redeemed. 

        7.    Offers to Purchase.    

        Sections 4.11,
4.12 and 4.13 of the Indenture provide that upon the occurrence of a Change of Control, upon the Company having Excess Cash Flow and after certain Asset Sales and
subject to further limitations contained therein, the Issuers will make an offer to purchase certain amounts of the 111/2% Notes in accordance with the procedures set forth in the
Indenture.

 

        8.    Registration Rights.    

        Pursuant
to the Registration Rights Agreement among the Issuers, the Guarantors and the Initial Purchaser of the 111/2% Initial Notes, the Issuers will be obligated to
consummate an exchange offer. Upon such exchange offering, the Holders of the 111/2% Initial Notes shall have the right, subject to compliance with securities laws, to exchange such
111/2% Initial Notes for 111/2% Senior Secured Notes due 2011, which have been registered under the Securities Act, in like principal amount and having terms identical in
all material respects to the 111/2% Initial Notes. The Holders of the 111/2% Initial Notes shall be entitled to receive certain additional interest payments in the event
such exchange offer is not consummated and upon certain other conditions, all pursuant to and in accordance with the terms of the Registration Rights Agreement. 

        9.    Denominations; Transfer; Exchange.    

        The
111/2% Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples thereof. A Holder shall register the transfer of or exchange of
111/2% Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes,
fees or similar governmental charges payable in connection therewith as permitted by the Indenture. The Registrar need not register the transfer of or exchange of any 111/2% Notes or
portions thereof selected for redemption. 

        10.    Persons Deemed Owners.    

        The
registered Holder of a 111/2% Note shall be treated as the owner of such 111/2% Note for all purposes. 

        11.    Unclaimed Money.    

        If
money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent may pay the money without interest thereon back to the Issuers.
After that, all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

        12.    Discharge Prior to Redemption or Maturity.    

        If
the Issuers at any time deposit with the Trustee U.S. Legal Tender or U.S. Government Obligations sufficient to pay the principal of and interest on the 111/2% Notes to
redemption or Maturity and comply with the other provisions of the Indenture relating thereto, the Issuers shall be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding 111/2% Notes, except for the rights of Holders to receive payments in respect of the principal of, and premium, if any, interest and
Additional Interest, if any, on the 111/2% Notes when such payments are due from the deposits referred to above. 

        13.    Amendment; Supplement; Waiver.    

        Subject
to certain exceptions, the Indenture, the Notes or the Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding, and any existing Default or Event of Default or noncompliance with any provision may be waived with the written consent of the Holders of a majority in
aggregate principal amount of the Notes then outstanding. Without consent of any Holder, the parties thereto may amend or supplement the Indenture, the Notes or the Guarantees to, among other things,
cure any ambiguity, defect or inconsistency, provide for uncertificated Notes or Guarantees in addition to or in place of certificated Notes or Guarantees, comply with the TIA, or comply with
Article Five of the Indenture or make any other change that does not adversely affect in any material respect the rights of any Holder of a Note. 

 

        14.    Restrictive Covenants.    

        The
Indenture imposes certain limitations on the ability of the Issuers and the Restricted Subsidiaries to, among other things, incur additional Indebtedness or Liens, make payments in
respect of their Capital Stock or certain Indebtedness, enter into transactions with Affiliates, enter into Sale and Leaseback Transactions, create dividend or other payment restrictions affecting
Subsidiaries, merge or consolidate with any other Person, sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets or adopt a plan of liquidation. Such
limitations are subject to a number of important qualifications and exceptions. The Issuers must annually report to the Trustee on compliance with such limitations. 

        15.    Successors.    

        When
a successor assumes, in accordance with the Indenture, all the obligations of its predecessor under the 111/2% Notes, the Guarantees and the Indenture, the
predecessor will be released from those obligations. 

        16.    Defaults and Remedies.    

        If
an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare all the Notes to be
due and payable in the manner, at the time and with the effect provided in the Indenture. Holders of Notes may not enforce the Indenture except as provided in the Indenture. The Trustee is not
obligated to enforce the Indenture or the Notes unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders of a majority in
aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes notice of any continuing Default or
Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is in their interest. 

        17.    Trustee Dealings with Issuers.    

        Subject
to the terms of the TIA and the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of 111/2%
Notes and may otherwise deal with the Issuers, the Subsidiaries or their respective Affiliates as if it were not the Trustee. 

        18.    No Recourse Against Others.    

        No
past, present or future stockholder, director, officer, employee or incorporator, as such, of the Issuers or the Guarantors shall have any liability for any obligation of the Issuers
under the 111/2% Notes, the Guarantees, the Collateral Agreements or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each
Holder of a 111/2% Note by accepting a 111/2% Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the 111/2% Notes. 

        19.    Guarantees.    

        Payment
of principal and interest and Additional Interest, if any (including interest on overdue principal and overdue interest, if lawful), is unconditionally guaranteed, jointly and
severally, by each of the Guarantors. In addition, the Obligations of the Co-Issuer under this Note and the Indenture are unconditionally guaranteed by the Company. In the event of
a default by the Co-Issuer in the payment of its Obligations, the Holders may institute legal proceedings directly against the Company to enforce the foregoing guarantee without first
proceeding against the Co-Issuer.

 

        20.    Authentication.    

        This
111/2% Note shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this 111/2% Note. 

        21.    Governing Law.    

        THE
LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS 111/2% NOTE, THE GUARANTEES, THE COLLATERAL AGREEMENTS AND THE INDENTURE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF
LAWS. 

        22.    Waiver of Jury Trial.    

        Each
of the parties hereto and the holders (by their acceptance of the 111/2% note) hereby irrevocably waives, to the fullest extent permitted by law, any and all right to
trial by jury in any action or proceeding arising out of or in connection with the indenture, this 111/2% note, the guarantees, the collateral agreements or the transactions
contemplated by this indenture. 

        23.    Abbreviations and Defined Terms.    

        Customary
abbreviations may be used in the name of a Holder of a 111/2% Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties),
JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

        The
Issuers will furnish to any Holder of a 111/2% Note upon written request and without charge a copy of the Indenture. Requests may be made to: Mrs. Fields
Famous Brands, LLC and Mrs. Fields Financing Company, Inc., 2855 East Cottonwood Parkway, Suite 400, Salt Lake City, Utah 84121-1050. 

 

FORM OF GUARANTEE  

        Each of the undersigned and their respective successors under the Indenture (collectively, the "Guarantors") has
jointly and severally with each of the other Guarantors, irrevocably and unconditionally guaranteed, on a senior secured basis to the extent set forth in the Indenture, dated as of March 16,
2004, by and among the Issuers, the Guarantors and The Bank of New York as Trustee (the "Indenture"), (i) the due and punctual payment of the
principal of, premium, if any, and interest and Additional Interest, if any, on the 111/2% Notes, whether at maturity, by acceleration or otherwise, the due and punctual payment of
interest on the overdue principal of and interest and Additional Interest, if any, on the 111/2% Notes, to the extent lawful, and the due and punctual performance of all other
obligations of the Issuers to the Holders or the Trustee all in accordance with the terms set forth in Article Ten of the Indenture and (ii) in case of any extension of time of payment or
renewal of any 111/2% Notes or any of such other obligations, that the same will 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. Capitalized terms used herein have the meanings assigned to them in the Indenture unless otherwise indicated. 

        THE
OBLIGATIONS OF THE UNDERSIGNED TO HOLDERS OF THE 111/2% NOTES AND TO THE TRUSTEE PURSUANT TO THIS NOTATION OF GUARANTEE (THE "GUARANTEE") AND THE INDENTURE ARE
EXPRESSLY SET FORTH IN ARTICLE TEN OF THE INDENTURE AND REFERENCE IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL OTHER PROVISIONS OF THE INDENTURE TO WHICH THE
GUARANTEE RELATES. EACH HOLDER OF A 111/2% NOTE, BY ACCEPTING THE SAME, (A) AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS AND (B) APPOINTS THE TRUSTEE
ATTORNEY-IN-FACT FOR SUCH HOLDER FOR SUCH PURPOSES. 

        This
Guarantee shall be governed by and construed in accordance with the laws of the State of New York. 

 

        IN
WITNESS WHEREOF, each Guarantor has caused its Guarantee to be duly executed. 

	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZEL TIME FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZELMAKER FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY SYSTEMS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS GIFTS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

	

 	
 	

THE MRS. FIELDS' BRAND, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY INTERNATIONAL, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY OF TEXAS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

ASSIGNMENT FORM  

        If you the Holder want to assign this 111/2% Note, fill in the form below and have your signature guaranteed: 

I
or we assign and transfer this 111/2% Note to: 

(Print or type name, address and zip code and

social security or tax ID number of assignee) 

and
irrevocably
appoint                                        
        agent to transfer this 111/2% Note on the books of the Issuers. The agent may substitute another to act for him. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 111/2% Note)

	
Signature Guarantee:	
 	

 	
 	

 
	 	 	
	 	 

        In
connection with any transfer of this 111/2% Note occurring prior to the date which is the earlier of (i) the date of the declaration by the SEC of the
effectiveness of a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering resales of this
111/2% Note (which effectiveness shall not have been suspended or terminated at the date of the transfer) and (ii) March 16, 2006, the undersigned confirms that it
has not utilized any general solicitation or general advertising in connection with the transfer and that this 111/2% Note is being transferred: 

[Check One]

	(1)	 	
	 	to the Issuers or a subsidiary thereof; or
	

(2)	
 	

	
 	

pursuant to and in compliance with Rule 144A under the Securities Act; or
	

(3)	
 	

	
 	

to an institutional "accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee a signed letter containing certain representations and agreements (the form of which
letter can be obtained from the Trustee); or
	

(4)	
 	

	
 	

outside the United States to a person other than a "U.S. person" in compliance with Rule 904 of Regulation S under the Securities Act; or
	

(5)	
 	

	
 	

pursuant to the exemption from registration provided by Rule 144 under the Securities Act; or
	

(6)	
 	

	
 	

pursuant to an effective registration statement under the Securities Act.

Unless
one of the boxes is checked, the Trustee will refuse to register any of the 111/2% Notes evidenced by this certificate in the name of any person other than the registered Holder
thereof; provided that if box (3), (4) or (5) is checked, the Issuers or the Trustee may require, prior to registering any such transfer
of the 111/2% Notes, in its sole discretion, such legal opinions, certifications (including an investment letter in the case of box (3) or (4)) and other information as the
Trustee or the either Issuer has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of
the Securities Act.

 

        If
none of the foregoing boxes is checked, the Trustee or Registrar shall not be obligated to register this 111/2% Note in the name of any person other than the
Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in Section 2.15 of the Indenture shall have been satisfied. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 111/2% Note)

	
Signature Guarantee:	
 	

 	
 	

 
	 	 	
	 	 

TO
BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED 

        The
undersigned represents and warrants that it is purchasing this 111/2% Note for its own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a "qualified institutional buyer" within the meaning of Rule 144A under the Securities Act and is aware that the sale to it is being made in
reliance on Rule 144A and acknowledges that it has received such information regarding the Issuers as the undersigned has requested pursuant to Rule 144A or has determined not to request
such information and that it is aware that the transferor is relying upon the undersigned's foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

	Dated:	 	 	 	 
	 	 	
	 	
 NOTICE: To be executed by an executive officer

 

[OPTION OF HOLDER TO ELECT PURCHASE]  

        If you want to elect to have this 111/2% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, check
the appropriate box: 

        Section 4.11
o 

        Section 4.12 o 

        Section 4.13 o 

        If you want to elect to have only part of this 111/2% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the
Indenture, state the amount you elect to have purchased: 

	$	 	 	 	 
	 	 	
	 	 

	
Dated:	
 	

 	
 	

 
	 	 	
	 	
 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within 111/2% Note in every particular without alteration or
enlargement or any change whatsoever and be guaranteed by the endorser's bank or broker.

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

   EXHIBIT A-2  

[FORM OF 9% NOTE]  

        THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR
ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 

        THE
HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT (A) IT IS A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT),
(B) IT IS A NON-U.S. PURCHASER AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AND (2) AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND
THE LAST DATE ON WHICH THE ISSUERS OR ANY AFFILIATE OF THE ISSUERS WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUERS OR ANY SUBSIDIARY THEREOF,
(B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PURCHASERS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR
FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUERS' AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER,
SALE OR TRANSFER PURSUANT TO CLAUSE (C), (D) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. IN EACH OF THE
FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY SHALL BE COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

 

MRS. FIELDS FAMOUS BRANDS, LLC

MRS. FIELDS FINANCING COMPANY, INC.  

 9% SENIOR SECURED NOTES DUE 2011  

	CUSIP No.	 	 
	No.	 	$                        

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company, and Mrs. Fields Financing Company, Inc., a Delaware corporation, for value received promise to
pay to                        , or registered assigns, the principal sum
of                        DOLLARS ($[            ]) on March 15,
2011. 

        Interest
Rate: 9% 

        Interest
Payment Dates: March 15 and September 15, commencing September 15. 

        Record
Dates: March 1 and September 1 

        Reference
is made to the further provisions of this Note contained on the reverse side of this Note, which will for all purposes have the same effect as if set forth at this
place. 

        IN
WITNESS WHEREOF, the Issuers have caused this Note to be signed manually or by facsimile by its duly authorized officer. 

	

 	
 	

MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC.
	

 	
 	

By:	
 	

 Name:

Title:

Dated:            ,
2004 

 

TRUSTEE CERTIFICATE OF AUTHENTICATION  

        This is one of the 9% Senior Secured Notes due 2011 referred to in the within-mentioned Indenture. 

	

 	
 	

THE BANK OF NEW YORK, as Trustee
	

Dated:            , 2004	
 	

By:	
 	

 Authorized Signatory

 

(REVERSE
OF SECURITY) 

9% Senior Secured Note due 2011  

        1.    Single Class of Notes.    The 9% Notes have the same terms as the 111/2% Notes, except
that the 9% Notes bear a different interest rate and have different optional redemption premiums than the 111/2% Notes. The 9% Notes and the 111/2% Notes are treated as a
single class for all purposes under the Indenture. The 9% Notes, together with the 111/2% Notes, are collectively referred to herein as the Notes. 

        2.    Interest.    

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company (the "Company", which term includes any Successor Entity) and
Mrs. Fields Financing Company, Inc., a Delaware corporation (the "Co-Issuer", together with the Company, the
"Issuers"), promise to pay interest on the principal amount of this 9% Note at the rate per annum shown above. Interest on the 9%
Note will accrue from the most recent date on which interest has been paid or, if no interest has been paid, from and including the date of issuance. The Issuers will pay interest
semi-annually in arrears on each Interest Payment Date, commencing September 15, 2004. Interest will be computed on the basis of a 360-day year comprised of twelve
30-day months. 

        3.    Method of Payment.    

        The
Issuers shall pay interest on the 9% Notes (except defaulted interest) to the Persons who are the registered Holders at the close of business on the Record Date immediately preceding
the Interest Payment Date even if the 9% Notes are cancelled on registration of transfer or registration of exchange after such Record Date, and on or before such Interest Payment Date. Holders must
surrender 9% Notes to a Paying Agent to collect principal payments. The Issuers shall pay principal and interest in money of the United States that at the time of payment is legal tender for payment
of public and private debts ("U.S. Legal Tender"). However, the Issuers may pay principal and interest by check payable in such U.S. Legal Tender. The
Issuers may deliver any such interest payment to the Paying Agent or to a Holder at the Holder's registered address. 

        4.    Paying Agent and Registrar.    

        Initially,
The Bank of New York (the "Trustee") will act as Paying Agent and Registrar. The Issuers may change any Paying Agent, Registrar
or co-Registrar without notice to the Holders. The Company may act as Paying Agent or Registrar. 

        5.    Indenture.    

        The
9% Notes and the Guarantees were issued under an Indenture, dated as of March 16, 2004 (the "Indenture"), among the Issuers,
the Guarantors named therein and the Trustee. The terms of the 9% Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15
U.S. Code §§ 77aaa-77bbbb) (the "TIA"), as in effect on the date of the Indenture until such time as the Indenture
is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the 9% Notes are subject to all
such terms, and Holders of 9% Notes are referred to in the Indenture and the TIA for a statement of such terms. The 9% Notes are senior secured obligations of the Issuers. Each Holder, by accepting a
9% Note, agrees to be bound by all of the terms and provisions of the Indenture, as the same may be amended from time to time. Capitalized terms herein are used as defined in the Indenture unless
otherwise defined herein.

 

        6.    Redemption on or After March 15, 2008.    

        (a)    Optional Redemption.    Except as described in Section 6(b), the 9% Notes are not redeemable before
March 15, 2008. Thereafter, the Issuers may on any one or more occasions redeem the 9% Notes. The 9% Notes will be redeemed at their option, in whole or in part, upon not less than 30 nor more
than 60 days' notice, at the following redemption prices (expressed as percentages of the aggregate principal amount thereof) if redeemed during the twelve-month period commencing on
March 15 of the year set forth below: 

	Year
 
	 	Percentage
	 	 
	 
	2008	 	104.500	%	 	 
	2009	 	102.250	%	 	 
	2010 and each year thereafter	 	100.000	%	 	 

        In
addition, the Issuers must pay accrued and unpaid interest and Additional Interest, if any, on the aggregate principal amount of the Notes redeemed. 

        (b)    Optional Redemption upon Equity Offerings.    At any time, or from time to time, on or prior to
March 15, 2007, the Issuers may, at their option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the
Notes ever issued under this Indenture. The 9% Notes will be redeemed at a redemption price of 109.000% of the aggregate principal amount thereof, plus accrued and unpaid interest and Additional
Interest, if any, to the date of redemption, provided that: 

        (1)   at
least 65% of the original principal amount of Notes ever issued under this Indenture remains outstanding immediately after any such redemption; and 

        (2)   the
Issuers make such redemption not more than 120 days after the consummation of any such Equity Offering. 

        (c)   Any
redemption by the Issuers of the 9% Notes pursuant to Section 6(a) or 6(b) above will be on a pro rata basis with the 111/2% Notes. 

        (d)    Notice of Redemption.    Notice of redemption will be mailed by first-class mail at least 30 days but
not more than 60 days before the Redemption Date to each Holder of 9% Notes to be redeemed at such Holder's registered address. If fewer than all of the Notes are to be redeemed, at any time,
selection of Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed, or, if the Notes
are not so listed, on a pro rata basis, by lot or by such method as the Trustee deems to be fair and appropriate; provided that no partial redemption
will reduce the principal amount of a Note not redeemed to a denomination of less than $1,000; and provided,  further, that any such partial redemption
made with the proceeds of an Equity Offering will be made only on a pro rata basis or on as nearly a pro rata
basis as practicable (subject to the procedures of the DTC or any other depository) unless such method is otherwise prohibited. Notes in denominations of $1,000 or more may be redeemed in part. 

        Except
as set forth in the Indenture, if monies for the redemption of the 9% Notes called for redemption shall have been deposited with the Paying Agent for redemption on such redemption
date sufficient to pay such redemption price plus accrued and unpaid interest and Additional Interest, if any, the 9% Notes called for redemption will cease to bear interest from and after such
redemption date, and the only remaining right of the Holders of such 9% Notes will be to receive payment of the redemption price plus accrued and unpaid interest and Additional Interest, if any, as of
the redemption date upon surrender to the Paying Agent of the 9% Notes redeemed.

 

        7.    Offers to Purchase.    

        Sections 4.11,
4.12 and 4.13 of the Indenture provide that upon the occurrence of a Change of Control, upon the Company having Excess Cash Flow and after certain Asset Sales and
subject to further limitations contained therein, the Issuers will make an offer to purchase certain amounts of the 9% Notes in accordance with the procedures set forth in the Indenture. 

        8.    Registration Rights.    

        The
Issuers and the Guarantors have entered into a Registration Rights Agreement dated March 16, 2004 for the benefit of the Holders of the 9% Notes. Holders of the 9% Notes will
become parties to the Registration Rights Agreement upon their acquisition of such 9% Notes, with the same effect as if they were signatories thereto, and will have the right to enforce the
Registration Rights Agreement according to its terms. Pursuant to the Registration Rights Agreement, the Issuers and the Guarantors will be obligated to consummate an exchange offer. Upon such
exchange offering, the Holders of the 9% Initial Notes shall have the right, subject to compliance with securities laws, to exchange such 9% Initial Notes for 9% Senior Secured Notes due 2011, which
have been registered under the Securities Act, in like principal amount and having terms identical in all material respects to the 9% Initial Notes. The Holders of the 9% Initial Notes shall be
entitled to receive certain additional interest payments in the event such exchange offer is not consummated and upon certain other conditions, all pursuant to and in accordance with the terms of the
Registration Rights Agreement. 

        9.    Denominations; Transfer; Exchange.    

        The
9% Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples thereof. A Holder shall register the transfer of or exchange of 9% Notes in
accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes, fees or similar governmental
charges
payable in connection therewith as permitted by the Indenture. The Registrar need not register the transfer of or exchange of any 9% Notes or portions thereof selected for redemption. 

        10.    Persons Deemed Owners.    

        The
registered Holder of a 9% Note shall be treated as the owner of the 9% Notes for all purposes. 

        11.    Unclaimed Money.    

        If
money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent may pay the money without interest thereon back to the Issuers.
After that, all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

        12.    Discharge Prior to Redemption or Maturity.    

        If
the Issuers at any time deposit with the Trustee U.S. Legal Tender or U.S. Government Obligations sufficient to pay the principal of and interest on the 9% Notes to redemption or
Maturity and comply with the other provisions of the Indenture relating thereto, the Issuers shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding 9%
Notes, except for the rights of Holders to receive payments in respect of the principal of, and premium, if any, interest and Additional Interest, if any, on the 9% Notes when such payments are due
from the deposits referred to above. 

        13.    Amendment; Supplement; Waiver.    

        Subject
to certain exceptions, the Indenture, the Notes or the Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding, and any existing Default or Event of Default or noncompliance

 
with any provision may be waived with the written consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding. Without consent of any Holder, the parties thereto
may amend or supplement the Indenture, the Notes or the Guarantees to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Notes or Guarantees in addition to or
in place of certificated Notes or Guarantees, comply with the TIA, or comply with Article Five of the Indenture or make any other change that does not adversely affect in any material respect
the rights of any Holder of a Note. 

        14.    Restrictive Covenants.    

        The
Indenture imposes certain limitations on the ability of the Issuers and the Restricted Subsidiaries to, among other things, incur additional Indebtedness or Liens, make payments in
respect of their Capital Stock or certain Indebtedness, enter into transactions with Affiliates, enter into Sale and Leaseback Transactions, create dividend or other payment restrictions affecting
Subsidiaries, merge or consolidate with any other Person, sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets or adopt a plan of liquidation. Such
limitations are subject to a number of important qualifications and exceptions. The Issuers must annually report to the Trustee on compliance with such limitations. 

        15.    Successors.    

        When
a successor assumes, in accordance with the Indenture, all the obligations of its predecessor under the 9% Notes, the Guarantees and the Indenture, the predecessor will be released
from those obligations. 

        16.    Defaults and Remedies.    

        If
an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare all the Notes to be
due and payable in the manner, at the time and with the effect provided in the Indenture. Holders of Notes may not enforce the Indenture except as provided in the Indenture. The Trustee is not
obligated to enforce the Indenture or the Notes unless it has received indemnity satisfactory to it. The Indenture
permits, subject to certain limitations therein provided, Holders of a majority in aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Holders of Notes notice of any continuing Default or Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is
in their interest. 

        17.    Trustee Dealings with Issuers.    

        Subject
to the terms of the TIA and the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of 9% Notes and may otherwise
deal with the Issuers, the Subsidiaries or their respective Affiliates as if it were not the Trustee. 

        18.    No Recourse Against Others.    

        No
past, present or future stockholder, director, officer, employee or incorporator, as such, of the Issuers or the Guarantors shall have any liability for any obligation of the Issuers
under the 9% Notes, the Guarantees, the Collateral Agreements or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder of a 9%
Note by accepting a 9% Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the 9% Notes. 

        19.    Guarantees.    

        Payment
of principal and interest and Additional Interest, if any (including interest on overdue principal and overdue interest, if lawful), is unconditionally guaranteed, jointly and
severally, by each of

 
the Guarantors. In addition, the Obligations of the Co-Issuer under this Note and the Indenture are unconditionally guaranteed by the Company. In the event of a default by the
Co-Issuer in the payment of its Obligations, the Holders may institute legal proceedings directly against the Company to enforce the foregoing guarantee without first proceeding against
the Co-Issuer. 

        20.    Authentication.    

        This
9% Note shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this 9% Note. 

        21.    Governing Law.    

        THE
LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS 9% NOTE, THE GUARANTEES, THE COLLATERAL AGREEMENTS AND THE INDENTURE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. 

        22.    Waiver of Jury Trial.    

        Each
of the parties hereto and the holders (by their acceptance of the 9% note) hereby irrevocably waives, to the fullest extent permitted by law, any and all right to trial by jury in
any action or proceeding arising out of or in connection with the indenture, this 9% note, the guarantees, the collateral agreements or the transactions contemplated by this indenture. 

        23.    Abbreviations and Defined Terms.    

        Customary
abbreviations may be used in the name of a Holder of a 9% Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

        The
Issuers will furnish to any Holder of a 9% Note upon written request and without charge a copy of the Indenture. Requests may be made to: Mrs. Fields Famous Brands, LLC
and Mrs. Fields Financing Company, Inc., 2855 East Cottonwood Parkway, Suite 400, Salt Lake City, Utah 84121-1050. 

 

FORM OF GUARANTEE  

        Each of the undersigned and their respective successors under the Indenture (collectively, the "Guarantors") has
jointly and severally with each of the other Guarantors, irrevocably and unconditionally guaranteed, on a senior secured basis to the extent set forth in the Indenture, dated as of March 16,
2004, by and among the Issuers, the Guarantors and The Bank of New York as Trustee (the "Indenture"), (i) the due and punctual payment of the
principal of, premium, if any, and interest and Additional Interest, if any, on the 9% Notes, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue
principal of and interest and Additional Interest, if any, on the 9% Notes, to the extent lawful, and the due and punctual performance of all other obligations of the Issuers to the Holders or the
Trustee all in accordance with the terms set forth in Article Ten of the Indenture and (ii) in case of any extension of time of payment or renewal of any 9% Notes or any of such other
obligations, that the same will 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.
Capitalized terms used herein have the meanings assigned to them in the Indenture unless otherwise indicated. 

        THE
OBLIGATIONS OF THE UNDERSIGNED TO HOLDERS OF THE 9% NOTES AND TO THE TRUSTEE PURSUANT TO THIS NOTATION OF GUARANTEE (THE "GUARANTEE") AND THE INDENTURE ARE EXPRESSLY SET FORTH IN
ARTICLE TEN OF THE INDENTURE AND REFERENCE IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL OTHER PROVISIONS OF THE INDENTURE TO WHICH THE GUARANTEE RELATES. EACH HOLDER
OF A 9% NOTE, BY ACCEPTING THE SAME, (A) AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS AND (B) APPOINTS THE TRUSTEE ATTORNEY-IN-FACT FOR SUCH HOLDER FOR SUCH
PURPOSES. 

        This
Guarantee shall be governed by and construed in accordance with the laws of the State of New York. 

 

        IN
WITNESS WHEREOF, each Guarantor has caused its Guarantee to be duly executed. 

	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZEL TIME FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZELMAKER FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY SYSTEMS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS GIFTS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

	

 	
 	

THE MRS. FIELDS' BRAND, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY INTERNATIONAL, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY OF TEXAS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

ASSIGNMENT FORM  

        If you the Holder want to assign this 9% Note, fill in the form below and have your signature guaranteed: 

I
or we assign and transfer this 9% Note to: 

(Print or type name, address and zip code and

social security or tax ID number of assignee) 

and
irrevocably
appoint                                        
        agent to transfer this 9% Note on the books of the Issuers. The agent may substitute another to act for him. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 9% Note)

	
Signature Guarantee:	
 	

 	
 	

 
	 	 	
	 	 

        In
connection with any transfer of this 9% Note occurring prior to the date which is the earlier of (i) the date of the declaration by the SEC of the effectiveness of a
registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering resales of this 9% Note (which effectiveness
shall not have been suspended or terminated at the date of the transfer) and (ii) March 16, 2006, the undersigned confirms that it has not utilized any general solicitation or general
advertising in connection with the transfer and that this 9% Note is being transferred: 

[Check One]

	(1)	 	
	 	to the Issuers or a subsidiary thereof; or
	

(2)	
 	

	
 	

pursuant to and in compliance with Rule 144A under the Securities Act; or
	

(3)	
 	

	
 	

to an institutional "accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee a signed letter containing certain representations and agreements (the form of which
letter can be obtained from the Trustee); or
	

(4)	
 	

	
 	

outside the United States to a person other than a "U.S. person" in compliance with Rule 904 of Regulation S under the Securities Act; or
	

(5)	
 	

	
 	

pursuant to the exemption from registration provided by Rule 144 under the Securities Act; or
	

(6)	
 	

	
 	

pursuant to an effective registration statement under the Securities Act.

Unless
one of the boxes is checked, the Trustee will refuse to register any of the 9% Notes evidenced by this certificate in the name of any person other than the registered Holder thereof;  provided that if
box (3), (4) or (5) is checked, the Issuers or the Trustee may require, prior to registering any such transfer of the 9%
Notes, in its sole discretion, such legal opinions, certifications (including an investment letter in the case of box (3) or (4)) and other information as the Trustee or the either Issuer has
reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

 

        If
none of the foregoing boxes is checked, the Trustee or Registrar shall not be obligated to register this 9% Note in the name of any person other than the Holder hereof unless
and until the conditions to any such transfer of registration set forth herein and in Section 2.15 of the Indenture shall have been satisfied. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 9% Note)

	
Signature Guarantee:	
 	

 	
 	

 
	 	 	
	 	 

TO
BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED 

        The
undersigned represents and warrants that it is purchasing this 9% Note for its own account or an account with respect to which it exercises sole investment discretion and that
it and any such account is a "qualified institutional buyer" within the meaning of Rule 144A under the Securities Act and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Issuers as the undersigned has requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon the undersigned's foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

	Dated:	 	 	 	 
	 	 	
	 	
 NOTICE: To be executed by an executive officer

 

[OPTION OF HOLDER TO ELECT PURCHASE]  

        If you want to elect to have this 9% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, check the appropriate
box: 

        Section 4.11
o 

        Section 4.12 o 

        Section 4.13 o 

        If you want to elect to have only part of this 9% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, state the
amount you elect to have purchased: 

	$	 	 	 	 
	 	 	
	 	 

	
Dated:	
 	

 	
 	

 
	 	 	
	 	
 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within 9% Note in every particular without alteration or enlargement or any change whatsoever and
be guaranteed by the endorser's bank or broker.

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

   EXHIBIT B-1  

[FORM OF 111/2% EXCHANGE NOTE]  

 MRS. FIELDS FAMOUS BRANDS, LLC

MRS. FIELDS FINANCING COMPANY, INC.  

 111/2% SENIOR SECURED NOTES DUE 2011  

	CUSIP No.	 	 
	No.	 	$                        

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company, and Mrs. Fields Financing Company, Inc., a Delaware corporation, for value received promise to
pay to                        , or registered assigns, the principal sum
of                        DOLLARS ($[            ]) on March 15,
2011. 

        Interest
Rate: 111/2% 

        Interest
Payment Dates: March 15 and September 15, commencing September 15. 

        Record
Dates: March 1 and September 1 

        Reference
is made to the further provisions of this Note contained on the reverse side of this Note, which will for all purposes have the same effect as if set forth at this
place. 

        IN
WITNESS WHEREOF, the Issuers have caused this Note to be signed manually or by facsimile by its duly authorized officer. 

	

 	
 	

MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC.
	

 	
 	

By:	
 	

 Name:

Title:

Dated:            ,
2004 

 

TRUSTEE CERTIFICATE OF AUTHENTICATION  

        This is one of the 111/2% Senior Secured Notes due 2011 referred to in the within-mentioned Indenture. 

	

 	
 	

THE BANK OF NEW YORK, as Trustee
	

Dated:            , 2004	
 	

By:	
 	

 Authorized Signatory

 

(REVERSE
OF SECURITY) 

111/2% Senior Secured Note due 2011  

        1.    Single Class of Notes.    

        The
111/2% Notes have the same terms as the 9% Notes, except that the 111/2% Notes bear a different interest rate and have different optional redemption
premiums than the 9% Notes. The 111/2% Notes and the 9% Notes are treated as a single class for all purposes under the Indenture. The 111/2% Notes, together with the 9%
Notes, are collectively referred to herein as the Notes. 

        2.    Interest.    

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company (the "Company", which term includes any Successor Entity) and
Mrs. Fields Financing Company, Inc., a Delaware corporation (the "Co-Issuer", together with the Company, the
"Issuers"), promise to pay interest on the principal amount of this 111/2% Note at the rate per annum shown above. Interest on the
111/2% Note will accrue from the most recent date on which interest has been paid or, if no interest has been paid, from and including the date of issuance. The Issuers will pay
interest semi-annually in arrears on each Interest Payment Date, commencing September 15, 2004. Interest will be computed on the basis of a 360-day year comprised of
twelve 30-day months. 

        3.    Method of Payment.    

        The
Issuers shall pay interest on the 111/2% Notes (except defaulted interest) to the Persons who are the registered Holders at the close of business on the Record Date
immediately preceding the Interest Payment Date even if the 111/2% Notes are cancelled on registration of transfer or registration of exchange after such Record Date, and on or before
such Interest Payment Date. Holders must surrender 111/2% Notes to a Paying Agent to collect principal payments. The Issuers shall pay principal and interest in money of the United
States that at the time of payment is legal tender for payment of public and private debts ("U.S. Legal Tender"). However, the Issuers may pay principal
and interest by check payable in such U.S. Legal Tender. The Issuers may deliver any such interest payment to the Paying Agent or to a Holder at the Holder's registered address. 

        4.    Paying Agent and Registrar.    

        Initially,
The Bank of New York (the "Trustee") will act as Paying Agent and Registrar. The Issuers may change any Paying Agent, Registrar
or co-Registrar without notice to the Holders. The Company may act as Paying Agent or Registrar. 

        5.    Indenture.    

        The
111/2% Notes and the Guarantees were issued under an Indenture, dated as of March 16, 2004 (the "Indenture"),
among the Issuers, the Guarantors named therein and the Trustee. The terms of the 111/2% Notes include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the "TIA"), as in effect on the date of the
Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the
contrary herein, the 111/2% Notes are subject to all such terms, and Holders of 111/2% Notes are referred to in the Indenture and the TIA for a statement of such terms.
The 111/2% Notes are senior secured obligations of the Issuers. Each Holder, by accepting a 111/2% Note, agrees to be bound by all of the terms and provisions of the
Indenture, as the same may be amended from time to time. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein.

 

        6.    Redemption on or After March 15, 2008.    

        (a)    Optional Redemption.    Except as described in Section 6(b), the 111/2% Notes are not
redeemable before March 15, 2008. Thereafter, the Issuers may on any one or more occasions redeem the 111/2% Notes. The 111/2% Notes will be redeemed at their
option, in whole or in part, upon not less than 30 nor more than 60 days' notice, at the following redemption prices (expressed as percentages of the aggregate principal amount thereof) if
redeemed during the twelve-month period commencing on March 15 of the year set forth below: 

	Year
 
	 	Percentage
	 
	2008	 	105.750	%
	2009	 	102.975	%
	2010 and each year thereafter	 	100.000	%

        In
addition, the Issuers must pay accrued and unpaid interest and Additional Interest, if any, on the aggregate principal amount of the Notes redeemed. 

        (b)    Optional Redemption upon Equity Offerings.    At any time, or from time to time, on or prior to
March 15, 2007, the Issuers may, at their option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the
Notes ever issued under this Indenture. The 111/2% Notes will be redeemed at a redemption price of 111.500% of the aggregate principal amount thereof, plus accrued and unpaid interest
and Additional Interest, if any, to the date of redemption, provided that: 

        (1)   at
least 65% of the original principal amount of Notes ever issued under this Indenture remains outstanding immediately after any such redemption; and 

        (2)   the
Issuers make such redemption not more than 120 days after the consummation of any such Equity Offering. 

        (c)   Any
redemption by the Issuers of the 111/2% Notes pursuant to Section 6(a) or 6(b) above will be on a pro rata basis with the 9% Notes. 

        (d)    Notice of Redemption.    Notice of redemption will be mailed by first-class mail at least 30 days but
not more than 60 days before the Redemption Date to each Holder of 111/2% Notes to be redeemed at such Holder's registered address. If fewer than all of the Notes are to be
redeemed, at any time, selection of Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are
listed, or, if the Notes are not so listed, on a pro rata basis, by lot or by such method as the Trustee deems to be fair and appropriate; provided that
no partial redemption will reduce the principal amount of a Note not redeemed to a denomination of less than $1,000; and provided,  further, that any
such partial redemption made with the proceeds of an Equity Offering will be made only on a pro rata basis or on as nearly a pro rata
basis as practicable (subject to the procedures of the DTC or any other depository) unless such method is otherwise prohibited. Notes in denominations of $1,000 or more may be redeemed in part. 

        Except
as set forth in the Indenture, if monies for the redemption of the 111/2% Notes called for redemption shall have been deposited with the Paying Agent for redemption
on such redemption date sufficient to pay such redemption price plus accrued and unpaid interest and Additional Interest, if any, the 111/2% Notes called for redemption will cease to
bear interest from and after such redemption date, and the only remaining right of the Holders of such 111/2% Notes will be to receive payment of the redemption price plus accrued and
unpaid interest and Additional Interest, if any, as of the redemption date upon surrender to the Paying Agent of the 111/2% Notes redeemed.

 

        7.    Offers to Purchase.    

        Sections 4.11,
4.12 and 4.13 of the Indenture provide that upon the occurrence of a Change of Control, upon the Company having Excess Cash Flow and after certain Asset Sales and
subject to further limitations contained therein, the Issuers will make an offer to purchase certain amounts of the 111/2% Notes in accordance with the procedures set forth in the
Indenture. 

        8.    Denominations; Transfer; Exchange.    

        The
111/2% Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples thereof. A Holder shall register the transfer of or exchange of
111/2% Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes,
fees or similar governmental charges payable in connection therewith as permitted by the Indenture. The Registrar need not register the transfer of or exchange of any 111/2% Notes or
portions thereof selected for redemption. 

        9.    Persons Deemed Owners.    

        The
registered Holder of a 111/2% Note shall be treated as the owner of the 111/2% Note for all purposes. 

        10.    Unclaimed Money.    

        If
money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent may pay the money without interest thereon back to the Issuers.
After that, all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

        11.    Discharge Prior to Redemption or Maturity.    

        If
the Issuers at any time deposit with the Trustee U.S. Legal Tender or U.S. Government Obligations sufficient to pay the principal of and interest on the 111/2% Notes to
redemption or Maturity and comply with the other provisions of the Indenture relating thereto, the Issuers shall be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding 111/2% Notes, except for the rights of Holders to receive payments in respect of the principal of, and premium, if any, interest and Additional Interest, if any, on the
111/2% Notes when such payments are due from the deposits referred to above. 

        12.    Amendment; Supplement; Waiver.    

        Subject
to certain exceptions, the Indenture, the Notes or the Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding, and any existing Default or Event of Default or noncompliance with any provision may be waived with the written consent of the Holders of a majority in
aggregate principal amount of the Notes then outstanding. Without consent of any Holder, the parties thereto may amend or supplement the Indenture, the Notes or the Guarantees to, among other things,
cure any ambiguity, defect or inconsistency, provide for uncertificated Notes or Guarantees in addition to or in place of certificated Notes or Guarantees, comply with the TIA, or comply with
Article Five of the Indenture or make any other change that does not adversely affect in any material respect the rights of any Holder of a Note. 

        13.    Restrictive Covenants.    

        The
Indenture imposes certain limitations on the ability of the Issuers and the Restricted Subsidiaries to, among other things, incur additional Indebtedness or Liens, make payments in
respect of their Capital Stock or certain Indebtedness, enter into transactions with Affiliates, enter into Sale and Leaseback Transactions, create dividend or other payment restrictions affecting
Subsidiaries, merge or consolidate with any other Person, sell, assign, transfer, lease, convey or otherwise dispose of all or

 
substantially all of its assets or adopt a plan of liquidation. Such limitations are subject to a number of important qualifications and exceptions. The Issuers must annually report to the Trustee on
compliance with such limitations. 

        14.    Successors.    

        When
a successor assumes, in accordance with the Indenture, all the obligations of its predecessor under the 111/2% Notes, the Guarantees and the Indenture, the
predecessor will be released from those obligations. 

        15.    Defaults and Remedies.    

        If
an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare all the Notes to be
due and payable in the manner, at the time and with the effect provided in the Indenture. Holders of Notes may not enforce the Indenture except as provided in the Indenture. The Trustee is not
obligated to enforce the Indenture or the Notes unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders of a majority in
aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes notice of any continuing Default or
Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is in their interest. 

        16.    Trustee Dealings with Issuers.    

        Subject
to the terms of the TIA and the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of 111/2%
Notes and may otherwise deal with the Issuers, the Subsidiaries or their respective Affiliates as if it were not the Trustee. 

        17.    No Recourse Against Others.    

        No
past, present or future stockholder, director, officer, employee or incorporator, as such, of the Issuers or the Guarantors shall have any liability for any obligation of the Issuers
under the 111/2% Notes, the Guarantees, the Collateral Agreements or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each
Holder of a 111/2% Note by accepting a 111/2% Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the 111/2% Notes. 

        18.    Guarantees.    

        Payment
of principal and interest and Additional Interest, if any (including interest on overdue principal and overdue interest, if lawful), is unconditionally guaranteed, jointly and
severally, by each of the Guarantors. In addition, the Obligations of the Co-Issuer under this Note and the Indenture are unconditionally guaranteed by the Company. In the event of
a default by the Co-Issuer in the payment of its Obligations, the Holders may institute legal proceedings directly against the Company to enforce the foregoing guarantee without first
proceeding against the Co-Issuer. 

        19.    Authentication.    

        This
111/2% Note shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this 111/2% Note. 

        20.    Governing Law.    

        THE
LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS 111/2% NOTE, THE GUARANTEES, THE COLLATERAL AGREEMENTS AND THE INDENTURE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF
LAWS.

 

        21.    Waiver of Jury Trial.    

        Each
of the parties hereto and the holders (by their acceptance of the 111/2% note) hereby irrevocably waives, to the fullest extent permitted by law, any and all right to
trial by jury in any action or proceeding arising out of or in connection with the indenture, this 111/2% note, the guarantees, the collateral agreements or the transactions
contemplated by this indenture. 

        22.    Abbreviations and Defined Terms.    

        Customary
abbreviations may be used in the name of a Holder of a 111/2% Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties),
JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

        The
Issuers will furnish to any Holder of a 111/2% Note upon written request and without charge a copy of the Indenture. Requests may be made to: Mrs. Fields
Famous Brands, LLC and Mrs. Fields Financing Company, Inc., 2855 East Cottonwood Parkway, Suite 400, Salt Lake City, Utah 84121-1050. 

 

FORM OF GUARANTEE  

        Each of the undersigned and their respective successors under the Indenture (collectively, the "Guarantors") has
jointly and severally with each of the other Guarantors, irrevocably and unconditionally guaranteed, on a senior secured basis to the extent set forth in the Indenture, dated as of March 16,
2004, by and among the Issuers, the Guarantors and The Bank of New York as Trustee (the "Indenture"), (i) the due and punctual payment of the
principal of, premium, if any, and interest and Additional Interest, if any, on the 111/2% Notes, whether at maturity, by acceleration or otherwise, the due and punctual payment of
interest on the overdue principal of and interest and Additional Interest, if any, on the 111/2% Notes, to the extent lawful, and the due and punctual performance of all other
obligations of the Issuers to the Holders or the Trustee all in accordance with the terms set forth in Article Ten of the Indenture and (ii) in case of any extension of time of payment or
renewal of any 111/2% Notes or any of such other obligations, that the same will 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. Capitalized terms used herein have the meanings assigned to them in the Indenture unless otherwise indicated. 

        THE
OBLIGATIONS OF THE UNDERSIGNED TO HOLDERS OF THE 111/2% NOTES AND TO THE TRUSTEE PURSUANT TO THIS NOTATION OF GUARANTEE (THE "GUARANTEE") AND THE INDENTURE ARE
EXPRESSLY SET FORTH IN ARTICLE TEN OF THE INDENTURE AND REFERENCE IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL OTHER PROVISIONS OF THE INDENTURE TO WHICH THE
GUARANTEE RELATES. EACH HOLDER OF A 111/2% NOTE, BY ACCEPTING THE SAME, (A) AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS AND (B) APPOINTS THE TRUSTEE
ATTORNEY-IN-FACT FOR SUCH HOLDER FOR SUCH PURPOSES. 

        This
Guarantee shall be governed by and construed in accordance with the laws of the State of New York. 

 

        IN
WITNESS WHEREOF, each Guarantor has caused its Guarantee to be duly executed. 

	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZEL TIME FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZELMAKER FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY SYSTEMS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS GIFTS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

	

 	
 	

THE MRS. FIELDS' BRAND, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY INTERNATIONAL, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY OF TEXAS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

ASSIGNMENT FORM  

        If you the Holder want to assign this 111/2% Note, fill in the form below and have your signature guaranteed: 

I
or we assign and transfer this 111/2% Note to: 

(Print or type name, address and zip code and

social security or tax ID number of assignee) 

and
irrevocably
appoint                                        
        agent to transfer this 111/2% Note on the books of the Issuers. The agent may substitute another to act for him. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 111/2% Note)

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

 

[OPTION OF HOLDER TO ELECT PURCHASE]  

        If you want to elect to have this 111/2% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, check
the appropriate box: 

        Section 4.11
o 

        Section 4.12 o 

        Section 4.13 o 

        If you want to elect to have only part of this 111/2% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the
Indenture, state the amount you elect to have purchased: 

	$	 	 	 	 
	 	 	
	 	 

	
Dated:	
 	

 	
 	

 
	 	 	
	 	
 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within 111/2% Note in every particular without alteration or
enlargement or any change whatsoever and be guaranteed by the endorser's bank or broker.

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

   EXHIBIT B-2  

[FORM OF 9% EXCHANGE NOTE]  

 MRS. FIELDS FAMOUS BRANDS, LLC

MRS. FIELDS FINANCING COMPANY, INC.  

 9% SENIOR SECURED NOTES DUE 2011  

	CUSIP No.	 	 
	No.	 	$                        

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company, and Mrs. Fields Financing Company, Inc., a Delaware corporation, for value received promise to
pay to                        , or registered assigns, the principal sum
of                        DOLLARS ($[            ]) on March 15,
2011. 

        Interest
Rate: 9% 

        Interest
Payment Dates: March 15 and September 15, commencing September 15. 

        Record
Dates: March 1 and September 1 

        Reference
is made to the further provisions of this Note contained on the reverse side of this Note, which will for all purposes have the same effect as if set forth at this
place. 

        IN
WITNESS WHEREOF, the Issuers have caused this Note to be signed manually or by facsimile by its duly authorized officer. 

	

 	
 	

MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC.
	

 	
 	

By:	
 	

 Name:

Title:

Dated:            ,
2004 

 

TRUSTEE CERTIFICATE OF AUTHENTICATION  

        This is one of the 9% Senior Secured Notes due 2011 referred to in the within-mentioned Indenture. 

	

 	
 	

THE BANK OF NEW YORK, as Trustee
	

Dated:            , 2004	
 	

By:	
 	

 Authorized Signatory

 

(REVERSE
OF SECURITY) 

9% Senior Secured Note due 2011  

        1.    Single Class of Notes.    

        The
9% Notes have the same terms as the 111/2% Notes, except that the 9% Notes bear a different interest rate and have different optional redemption premiums than the
111/2% Notes. The 9% Notes and the 111/2% Notes are treated as a single class for all purposes under the Indenture. The 9% Notes, together with the 111/2%
Notes, are collectively referred to herein as the Notes. 

        2.    Interest.    

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company (the "Company", which term includes any Successor Entity) and
Mrs. Fields Financing Company, Inc., a Delaware corporation (the "Co-Issuer", together with the Company, the
"Issuers"), promise to pay interest on the principal amount of this 9% Note at the rate per annum shown above. Interest on the 9%
Note will accrue from the most recent date on which interest has been paid or, if no interest has been paid, from and including the date of issuance. The Issuers will pay interest
semi-annually in arrears on each Interest Payment Date, commencing September 15, 2004. Interest will be computed on the basis of a 360-day year comprised of twelve
30-day months. 

        3.    Method of Payment.    

        The
Issuers shall pay interest on the 9% Notes (except defaulted interest) to the Persons who are the registered Holders at the close of business on the Record Date immediately preceding
the Interest Payment Date even if the 9% Notes are cancelled on registration of transfer or registration of exchange after such Record Date, and on or before such Interest Payment Date. Holders must
surrender 9% Notes to a Paying Agent to collect principal payments. The Issuers shall pay principal and interest in money of the United States that at the time of payment is legal tender for payment
of public and private debts ("U.S. Legal Tender"). However, the Issuers may pay principal and interest by check payable in such U.S. Legal Tender. The
Issuers may deliver any such interest payment to the Paying Agent or to a Holder at the Holder's registered address. 

        4.    Paying Agent and Registrar.    

        Initially,
The Bank of New York (the "Trustee") will act as Paying Agent and Registrar. The Issuers may change any Paying Agent, Registrar
or co-Registrar without notice to the Holders. The Company may act as Paying Agent or Registrar. 

        5.    Indenture.    

        The
9% Notes and the Guarantees were issued under an Indenture, dated as of March 16, 2004 (the "Indenture"), among the Issuers,
the Guarantors named therein and the Trustee. The terms of the 9% Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15
U.S. Code §§ 77aaa-77bbbb) (the "TIA"), as in effect on the date of the Indenture until such time as the Indenture
is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the 9% Notes are subject to all
such terms, and Holders of 9% Notes are referred to in the Indenture and the TIA for a statement of such terms. The 9% Notes are senior secured obligations of the Issuers. Each Holder, by accepting a
9% Note, agrees to be bound by all of the terms and provisions of the Indenture, as the same may be amended from time to time. Capitalized terms herein are used as defined in the Indenture unless
otherwise defined herein.

 

        6.    Redemption on or After March 15, 2008.    

        (a)    Optional Redemption.    Except as described in Section 6(b), the 9% Notes are not redeemable before
March 15, 2008. Thereafter, the Issuers may on any one or more occasions redeem the 9% Notes. The 9% Notes will be redeemed at their option, in whole or in part, upon not less than 30 nor more
than 60 days' notice, at the following redemption prices (expressed as percentages of the aggregate principal amount thereof) if redeemed during the twelve-month period commencing on
March 15 of the year set forth below: 

	Year
 
	 	Percentage
	 	 
	 
	2008	 	104.500	%	 	 
	2009	 	102.250	%	 	 
	2010 and each year thereafter	 	100.000	%	 	 

        In
addition, the Issuers must pay accrued and unpaid interest and Additional Interest, if any, on the aggregate principal amount of the Notes redeemed. 

        (b)    Optional Redemption upon Equity Offerings.    At any time, or from time to time, on or prior to
March 15, 2007, the Issuers may, at their option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the
Notes ever issued under this Indenture. The 9% Notes will be redeemed at a redemption price of 109.000% of the aggregate principal amount thereof, plus accrued and unpaid interest and Additional
Interest, if any, to the date of redemption, provided that: 

        (1)   at
least 65% of the original principal amount of Notes ever issued under this Indenture remains outstanding immediately after any such redemption; and 

        (2)   the
Issuers make such redemption not more than 120 days after the consummation of any such Equity Offering. 

        (c)   Any
redemption by the Issuers of the 9% Notes pursuant to Section 6(a) or 6(b) above will be on a pro rata basis with the 111/2% Notes. 

        (d)    Notice of Redemption.    Notice of redemption will be mailed by first-class mail at least 30 days but
not more than 60 days before the Redemption Date to each Holder of 9% Notes to be redeemed at such Holder's registered address. If fewer than all of the Notes are to be redeemed, at any time,
selection of Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed, or, if the Notes
are not so listed, on a pro rata basis, by lot or by such method as the Trustee deems to be fair and appropriate; provided that no partial redemption
will reduce the principal amount of a Note not redeemed to a denomination of less than $1,000; and provided,  further, that any such partial redemption
made with the proceeds of an Equity Offering will be made only on a pro rata basis or on as nearly a pro rata
basis as practicable (subject to the procedures of the DTC or any other depository) unless such method is otherwise prohibited. Notes in denominations of $1,000 or more may be redeemed in part. 

        Except
as set forth in the Indenture, if monies for the redemption of the 9% Notes called for redemption shall have been deposited with the Paying Agent for redemption on such redemption
date sufficient to pay such redemption price plus accrued and unpaid interest and Additional Interest, if any, the 9% Notes called for redemption will cease to bear interest from and after such
redemption date, and the only remaining right of the Holders of such 9% Notes will be to receive payment of the redemption price plus accrued and unpaid interest and Additional Interest, if any, as of
the redemption date upon surrender to the Paying Agent of the 9% Notes redeemed.

 

        7.    Offers to Purchase.    

        Sections 4.11,
4.12 and 4.13 of the Indenture provide that upon the occurrence of a Change of Control, upon the Company having Excess Cash Flow and after certain Asset Sales and
subject to further limitations contained therein, the Issuers will make an offer to purchase certain amounts of the 9% Notes in accordance with the procedures set forth in the Indenture. 

        8.    Denominations; Transfer; Exchange.    

        The
9% Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples thereof. A Holder shall register the transfer of or exchange of 9% Notes in
accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes, fees or similar governmental
charges payable in connection therewith as permitted by the Indenture. The Registrar need not register the transfer of or exchange of any 9% Notes or portions thereof selected for redemption. 

        9.    Persons Deemed Owners.    

        The
registered Holder of a 9% Note shall be treated as the owner of the 9% Note for all purposes. 

        10.    Unclaimed Money.    

        If
money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent may pay the money without interest thereon back to the Issuers.
After that, all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

        11.    Discharge Prior to Redemption or Maturity.    

        If
the Issuers at any time deposit with the Trustee U.S. Legal Tender or U.S. Government Obligations sufficient to pay the principal of and interest on the 9% Notes to redemption or
Maturity and comply with the other provisions of the Indenture relating thereto, the Issuers shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding 9%
Notes, except for the rights of Holders to receive payments in respect of the principal of, and premium, if any, interest and Additional Interest, if any, on the 9% Notes when such payments are due
from the deposits referred to above. 

        12.    Amendment; Supplement; Waiver.    

        Subject
to certain exceptions, the Indenture, the Notes or the Guarantees may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate
principal amount of the Notes then outstanding, and any existing Default or Event of Default or noncompliance with any provision may be waived with the written consent of the Holders of a majority in
aggregate principal amount of the Notes then outstanding. Without consent of any Holder, the parties thereto may amend or supplement the Indenture, the Notes or the Guarantees to, among other things,
cure any ambiguity, defect or inconsistency, provide for uncertificated Notes or Guarantees in addition to or in place of certificated Notes or Guarantees, comply with the TIA, or comply with
Article Five of the Indenture or make any other change that does not adversely affect in any material respect the rights of any Holder of a Note. 

        13.    Restrictive Covenants.    

        The
Indenture imposes certain limitations on the ability of the Issuers and the Restricted Subsidiaries to, among other things, incur additional Indebtedness or Liens, make payments in
respect of their Capital Stock or certain Indebtedness, enter into transactions with Affiliates, enter into Sale and Leaseback Transactions, create dividend or other payment restrictions affecting
Subsidiaries, merge or consolidate with any other Person, sell, assign, transfer, lease, convey or otherwise dispose of all or

 
substantially all of its assets or adopt a plan of liquidation. Such limitations are subject to a number of important qualifications and exceptions. The Issuers must annually report to the Trustee on
compliance with such limitations. 

        14.    Successors.    

        When
a successor assumes, in accordance with the Indenture, all the obligations of its predecessor under the 9% Notes, the Guarantees and the Indenture, the predecessor will be released
from those obligations. 

        15.    Defaults and Remedies.    

        If
an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding may declare all the Notes to be
due and payable in the manner, at the time and with the effect provided in the Indenture. Holders of Notes may not enforce the Indenture except as provided in the Indenture. The Trustee is not
obligated to enforce the Indenture or the Notes unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders of a majority in
aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes notice of any continuing Default or
Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is in their interest. 

        16.    Trustee Dealings with Issuers.    

        Subject
to the terms of the TIA and the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of 9% Notes and may otherwise
deal with the Issuers, the Subsidiaries or their respective Affiliates as if it were not the Trustee. 

        17.    No Recourse Against Others.    

        No
past, present or future stockholder, director, officer, employee or incorporator, as such, of the Issuers or the Guarantors shall have any liability for any obligation of the Issuers
under the 9% Notes, the Guarantees, the Collateral Agreements or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder of a 9%
Note by accepting a 9% Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the 9% Notes. 

        18.    Guarantees.    

        Payment
of principal and interest and Additional Interest, if any (including interest on overdue principal and overdue interest, if lawful), is unconditionally guaranteed, jointly and
severally, by each of the Guarantors. In addition, the Obligations of the Co-Issuer under this Note and the Indenture are unconditionally guaranteed by the Company. In the event of
a default by the Co-Issuer in the payment of its Obligations, the Holders may institute legal proceedings directly against the Company to enforce the foregoing guarantee without first
proceeding against the Co-Issuer. 

        19.    Authentication.    

        This
9% Note shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this 9% Note. 

        20.    Governing Law.    

        THE
LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS 9% NOTE, THE GUARANTEES, THE COLLATERAL AGREEMENTS AND THE INDENTURE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

 

        21.    Waiver of Jury Trial.    

        Each
of the parties hereto and the holders (by their acceptance of the 9% note) hereby irrevocably waives, to the fullest extent permitted by law, any and all right to trial by jury in
any action or proceeding arising out of or in connection with the indenture, this 9% note, the guarantees, the collateral agreements or the transactions contemplated by this indenture. 

        22.    Abbreviations and Defined Terms.    

        Customary
abbreviations may be used in the name of a Holder of a 9% Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

        The
Issuers will furnish to any Holder of a 9% Note upon written request and without charge a copy of the Indenture. Requests may be made to: Mrs. Fields Famous Brands, LLC
and Mrs. Fields Financing Company, Inc., 2855 East Cottonwood Parkway, Suite 400, Salt Lake City, Utah 84121-1050. 

 

FORM OF GUARANTEE  

        Each of the undersigned and their respective successors under the Indenture (collectively, the "Guarantors") has
jointly and severally with each of the other Guarantors, irrevocably and unconditionally guaranteed, on a senior basis to the extent set forth in the Indenture, dated as of March 16, 2004, by
and among the Issuers, the Guarantors and The Bank of New York as Trustee (the "Indenture"), (i) the due and punctual payment of the principal
of, premium, if any, and interest and Additional Interest, if any, on the 9% Notes, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue principal
of and interest and Additional Interest, if any, on the 9% Notes, to the extent lawful, and the due and punctual performance of all other obligations of the Issuers to the Holders or the Trustee all
in accordance with the terms set forth in Article Ten of the Indenture and (ii) in case of any extension of time of payment or renewal of any 9% Notes or any of such other obligations,
that the same will 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. Capitalized terms
used herein have the meanings assigned to them in the Indenture unless otherwise indicated. 

        THE
OBLIGATIONS OF THE UNDERSIGNED TO HOLDERS OF THE 9% NOTES AND TO THE TRUSTEE PURSUANT TO THIS NOTATION OF GUARANTEE (THE "GUARANTEE") AND THE INDENTURE ARE EXPRESSLY SET FORTH IN
ARTICLE TEN OF THE INDENTURE AND REFERENCE IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL OTHER PROVISIONS OF THE INDENTURE TO WHICH THE GUARANTEE RELATES. EACH HOLDER
OF A 9% NOTE, BY ACCEPTING THE SAME, (A) AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS AND (B) APPOINTS THE TRUSTEE ATTORNEY-IN-FACT FOR SUCH HOLDER FOR SUCH
PURPOSES. 

        This
Guarantee shall be governed by and construed in accordance with the laws of the State of New York. 

 

        IN
WITNESS WHEREOF, each Guarantor has caused its Guarantee to be duly executed. 

	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZEL TIME FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

PRETZELMAKER FRANCHISING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY SYSTEMS, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS GIFTS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

	

 	
 	

THE MRS. FIELDS' BRAND, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY INTERNATIONAL, INC.
	

 	
 	

By:	
 	

 Name:

Title:
	

 	
 	

TCBY OF TEXAS, INC.
	

 	
 	

By:	
 	

 Name:

Title:

 

ASSIGNMENT FORM  

        If you the Holder want to assign this 9% Note, fill in the form below and have your signature guaranteed: 

I
or we assign and transfer this 9% Note to: 

(Print or type name, address and zip code and

social security or tax ID number of assignee) 

and
irrevocably
appoint                                        
        agent to transfer this 9% Note on the books of the Issuers. The agent may substitute another to act for him. 

	Dated:	 	 	 	Signed:	 	 
	 	 	
	 	 	 	
 (Sign exactly as your name appears on the other side of this 9% Note)

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

 

[OPTION OF HOLDER TO ELECT PURCHASE]  

        If you want to elect to have this 9% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, check the appropriate
box: 

        Section 4.11
o 

        Section 4.12 o 

        Section 4.13 o 

        If you want to elect to have only part of this 9% Note purchased by the Issuers pursuant to Section 4.11, 4.12 or 4.13 of the Indenture, state the
amount you elect to have purchased: 

	$	 	 	 	 
	 	 	
	 	 

	
Dated:	
 	

 	
 	

 
	 	 	
	 	
 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within 9% Note in every particular without alteration or enlargement or any change whatsoever and
be guaranteed by the endorser's bank or broker.

	
 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

	

 	
 	

Signature Guarantee:	
 	

 
	 	 	 	 	

   EXHIBIT C  

FORM OF LEGEND FOR GLOBAL NOTES  

        Any Global Note authenticated and delivered hereunder shall bear a legend (which would be in addition to any other legends required in the case of a
Restricted Security) in substantially the following form: 

        THIS
CERTIFICATE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR
DEPOSITORY. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO
TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE
DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

        UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO
THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

   EXHIBIT D  

Form of Certificate To Be

Delivered in Connection with

Transfers to Non-QIB Accredited Investors  

                        ,
            

The
Bank of New York

101 Barclay Street, Floor 8 West

New York, New York 10286 

	Re:
	% Senior Secured Notes due 2011 (the "    % Notes") of Mrs. Fields Famous Brands, LLC, a Delaware
limited liability company (the "Company," which term includes any successor entity), and Mrs. Fields Financing Company, Inc., a Delaware
corporation (the "Co-Issuer" together with the Company, the "Issuers") 

Ladies
and Gentlemen: 

        In
connection with our proposed purchase of $                        aggregate principal amount of the    % Notes,
 we confirm that: 

        1.     We
have received a copy of the Offering Circular (the "Offering Circular"), dated March 9, 2004, relating to the
    % Notes and such other information as we deem necessary in order to make our investment decision. We acknowledge that we have read and agreed to the matters stated in the
section entitled "Notice to Investors" of the Offering Circular. 

        2.     We
understand that any subsequent transfer of the    % Notes is subject to certain restrictions and conditions set forth in the Indenture dated as of
March 16, 2004 relating to the    % Notes (the "Indenture") and the undersigned agrees to be bound by, and not to resell, pledge or
otherwise transfer the Notes except in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended (the "Securities
Act"). 

        3.     We
understand that the offer and sale of the    % Notes have not been registered under the Securities Act, and that the    % Notes 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 or
otherwise transfer any    % Notes prior to the date which is within two years after the original issuance of the    % Notes or the last date on which the Note is
owned by the Issuers or any affiliate of the Issuers, we will do so only (i) to the Issuers or any of its subsidiaries, (ii) inside the United States in accordance with Rule 144A
under the Securities Act to a "qualified institutional buyer" (as defined in Rule 144A under the Securities Act), (iii) inside the United States to an institutional "accredited investor"
(as defined below) provided that, prior to such transfer, the transferee furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you a signed letter containing certain representations
and agreements relating to the restrictions on transfer of the    % Notes, substantially in the form of this letter, (iv) outside the United States in accordance with Rule 904
of Regulation S under the Securities Act, (v) pursuant to the exemption from registration provided by Rule 144 under the Securities Act (if available) or (vi) pursuant to
an effective registration statement under the Securities Act, and we further agree to provide to any person purchasing any of the Notes from us a notice advising such purchaser that resales of the
    % Notes are restricted as stated herein. 

        4.     We
are not acquiring the    % Notes for or on behalf of, and will not transfer the    % Notes to, any pension or welfare plan (as defined in
Section 3 of the Employee Retirement Income

 
Security Act of 1974), except as permitted in the section entitled "Notice to Investors" of the Offering Circular. 

        5.     We
understand that, on any proposed resale of any    % Notes, we will be required to furnish to you and the Issuers such certification, legal opinions and
other information as you and the Issuers 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. 

        6.     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 their investment, as the case may be. 

        7.     We
are acquiring the    % Notes 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. 

        8.     We
are not acquiring    % Notes with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws of any
state of the United States or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary shall remain at all
times within our and their control. 

        You
and the Issuers 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, and we agree to notify you promptly if any of our representations or warranties herein cease to be accurate and complete. 

        This
letter shall be governed by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of laws. 

	

 	
 	

Very truly yours,
	

 	
 	

[Name of Transferee]
	

 	
 	

By:	
 	

 Authorized Signature

   EXHIBIT E  

Form of Certificate To Be

Delivered in Connection with

Transfers Pursuant to Regulation S  

The
Bank of New York

101 Barclay Street, Floor 8 West

New York, New York 10286 

	Re:
	%
Senior Secured Notes due 2011 (the "    % Notes") of Mrs. Fields Famous Brands, LLC, a Delaware
limited liability company (the "Company," which term includes any successor entity), and Mrs. Fields Financing Company, Inc., a Delaware
corporation (the "Co-Issuer" together with the Company, the "Issuers") 

Ladies
and Gentlemen: 

        In
connection with our proposed sale of $                        aggregate principal amount of the    % Notes, we
confirm that such sale has been effected pursuant to and in
accordance with Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and, accordingly, we represent that: 

        1.     the
offer of the    % Notes was not made to a person in the United States; 

        2.     either
(a) at the time the buy offer was originated, the transferee was outside the United States or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States, or (b) the transaction was executed in, on or through the facilities of a designated off-shore securities market and neither we
nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 

        3.     no
directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(b) or Rule 904(b) of
Regulation S, as applicable; 

        4.     the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act; and 

        5.     we
have advised the transferee of the transfer restrictions applicable to the    % Notes. 

        You
and the Issuers 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. Terms used in this certificate have the meanings set forth in Regulation S. 

	

 	
 	

Very truly yours,
	

 	
 	

[Name of Transferee]
	

 	
 	

By:	
 	

 Authorized Signature

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Exhibit 4.7  

        CONFORMED COPY  

 $115,000,000  

 MRS. FIELDS FAMOUS BRANDS, LLC

Mrs. Fields Financing Company, Inc.  

 111/2% of Senior Secured Notes due 2011  

  
 

    REGISTRATION RIGHTS AGREEMENT    
    

        March 16, 2004 

JEFFERIES &
COMPANY, INC.

11100 Santa Monica Boulevard

10th Floor

Los Angeles, California 90025 

Ladies
and Gentlemen: 

        Mrs. Fields
Famous Brands, LLC, a Delaware limited liability company (the "Company") and Mrs. Fields Financing
Company, Inc., a Delaware corporation (the "Co-issuer" and together with the Company, the
"Issuers") are issuing and selling to Jefferies & Company, Inc. (the "Initial Purchaser"),
upon the terms set forth in the Purchase Agreement dated March 9, 2004, by and among the Company, the Initial Purchaser and the subsidiary guarantors named therein (the
"Purchase Agreement"), $115,000,000 aggregate principal amount of 111/2% Senior Secured Notes due 2011 issued by the Issuers (each, a
"Note" and collectively, the "Notes"). As an inducement to the Initial Purchaser to enter into the
Purchase Agreement, the Issuers and the subsidiary guarantors listed in the signature pages hereto
agree with the Initial Purchaser, for the benefit of the Holders (as defined below) of the Notes (including, without limitation, the Initial Purchaser), as follows: 

1.    Definitions    

        Capitalized
terms that are used herein without definition and are defined in the Purchase Agreement shall have the respective meanings ascribed to them in the Purchase Agreement. As used
in this Agreement, the following terms shall have the following meanings: 

        Additional Interest:    See Section 4(a). 

        Advice:    See Section 5(u). 

        Agreement:    This Registration Rights Agreement, dated as of the Closing Date, between the Issuers and the Initial Purchaser. 

        Applicable Period:    See Section 2(e). 

        Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized or
required by law or executive order to be closed. 

        Closing Date:    March 16, 2004. 

        Collateral Agreements:    Shall have the meaning set forth in the Indenture. 

        Company:    See the introductory paragraph to this Agreement. 

        Day:    Unless otherwise expressly provided, a calendar day. 

        Effectiveness Date:    The 180th day after the Issue Date. 

        Effectiveness Period:    See Section 3(a). 

        Event Date:    See Section 4(b).

 

        Exchange Act:    The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 

        Exchange Notes:    Senior Secured Notes due 2011 of the Issuers, identical in all material respects to the Notes, including the
guarantees endorsed thereon, except for references to series and restrictive legends. 

        Exchange Offer:    See Section 2(a). 

        Exchange Registration Statement:    See Section 2(a). 

        Filing Date:    The 90th day after the Issue Date. 

        Holder:    Any registered holder of Registrable Notes. 

        Indemnified Party:    See Section 7(c). 

        Indemnifying Party:    See Section 7(c). 

        Indenture:    The Indenture, dated as of the Closing Date, among the Issuers, the Subsidiary Guarantors and The Bank of New
York, as trustee, pursuant to which the Notes are being issued, as amended or supplemented from time to time in accordance with the terms hereof. 

        Initial Purchaser:    See the introductory paragraph to this Agreement. 

        Initial Shelf Registration:    See Section 3(a). 

        Inspectors:    See Section 5(n). 

        Issue Date:    March 16, 2004. 

        Issuers:    See the introductory paragraph to this Agreement. 

        Lien:    Shall have the meaning set forth in the Indenture. 

        Losses:    See Section 7(a). 

        NASD:    National Association of Securities Dealers, Inc. 

        Notes:    See the introductory paragraph to this Agreement. 

        Participating Broker-Dealer:    See Section 2(e). 

        Person:    An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust,
unincorporated association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 

        Private Exchange:    See Section 2(f). 

        Private Exchange Notes:    See Section 2(f). 

        Prospectus:    The prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Notes covered by such Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

 

        Purchase Agreement:    See the introductory paragraph to this Agreement. 

        Records:    See Section 5(n). 

        Registrable Notes:    (i) Notes and (ii) Private Exchange Notes, in each case, that may not be sold without
restriction under federal or state securities laws. 

        Registration Statement:    Any registration statement of the Issuers and the Subsidiary Guarantors filed with the SEC under the
Securities Act (including, but not limited to, the Exchange Registration Statement, the Shelf Registration and any subsequent Shelf Registration) that covers any of the Registrable Notes pursuant to
the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement. 

        Rule 144:    Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or any
similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in offers and sales by
subsequent holders that are not affiliates of an issuer or such securities being free of the registration and prospectus delivery requirements of the Securities Act. 

        Rule 144A:    Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or
any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC. 

        Rule 415:    Rule 415 promulgated under the Securities Act, as such Rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the SEC. 

        Rule 430A:    Rule 430A promulgated under the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the SEC. 

        SEC:    The Securities and Exchange Commission. 

        Securities:    The Notes, the Exchange Notes and the Private Exchange Notes. 

        Securities Act:    The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 

        Shelf Notice:    See Section 2(j). 

        Shelf Registration:    See Section 3(b). 

        Subsequent Shelf Registration:    See Section 3(b). 

        Subsidiary Guarantor:    Each subsidiary of the Company that guarantees the obligations of the Issuers under the Notes and
Indenture. 

        TIA:    The Trust Indenture Act of 1939, as amended. 

        Trustee:    The trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes and
Private Exchange Notes (if any). 

        Underwritten Registration or Underwritten Offering: A registration in which securities of the Issuers are sold to an underwriter for
reoffering to the public. 

2.    Exchange Offer    

	(a)
	Unless
the Exchange Offer would not be permitted by applicable laws or a policy of the SEC, the Issuers shall (and shall cause each Subsidiary Guarantor to) (i) prepare and
file with the 

 

SEC
promptly after the date hereof, but in no event later than the Filing Date, a registration statement (the "Exchange Registration Statement") on an
appropriate form under the Securities Act with respect to an offer (the "Exchange Offer") to the Holders of Notes to issue and deliver to such Holders,
in exchange for the Notes, a like principal amount of Exchange Notes, (ii) use their best efforts to cause the Exchange Registration Statement to become effective as promptly as practicable
after the filing thereof, but in no event later than the Effectiveness Date, (iii) use their best efforts to keep the Exchange Registration Statement effective until the consummation of the
Exchange Offer in accordance with its terms, and (iv) commence the Exchange Offer and use their best efforts to issue on or prior to 30 Business Days after the date on which the Exchange
Registration Statement is declared effective, Exchange Notes in exchange for all Notes tendered prior thereto in the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other
than that the Exchange Offer does not violate applicable law or any applicable interpretation of the staff of the SEC. 

	(b)
	The
Exchange Notes shall be issued under, and entitled to the benefits of, (i) the Indenture or a trust indenture that is identical to the Indenture (other than such changes as
are necessary to comply with any requirements of the SEC to effect or maintain the qualifications thereof under the TIA) and (ii) the Collateral Agreements.

	(c)
	Interest
on the Exchange Notes and Private Exchange Notes will accrue from the last interest payment due date on which interest was paid on the Notes surrendered in exchange therefor
or, if no interest has been paid on the Notes, from the date of original issue of the Notes. Each Exchange Note and Private Exchange Note shall bear interest at the rate set forth thereon;  provided,
that interest with respect to the period prior to the issuance thereof shall accrue at the rate or rates borne by the Notes from time to time
during such period.

	(d)
	The
Issuers may require each Holder as a condition to participation in the Exchange Offer to represent (i) that any Exchange Notes received by it will be acquired in the
ordinary course of its business, (ii) that at the time of the commencement and consummation of the Exchange Offer such Holder has not entered into any arrangement or understanding with any
Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iii) that if such Holder is an
"affiliate" of the either of the Issuers within the meaning of Rule 405 of the Securities Act, it will comply with the registration and prospectus delivery requirements of the Securities Act to
the extent applicable to it, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Notes and (v) if such Holder
is a Participating Broker-Dealer, that it will deliver a Prospectus in connection with any resale of the Exchange Notes.

	(e)
	The
Issuers shall (and shall cause each Subsidiary Guarantor to) include within the Prospectus contained in the Exchange Registration Statement a section entitled "Plan of
Distribution" reasonably acceptable to the Initial Purchaser which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential
"underwriter" status of any broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the
Exchange Offer for its own account in exchange for Notes that were acquired by it as a result of market-making or other trading activity (a "Participating
Broker-Dealer"), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies, in the judgment of the Initial
Purchaser, represent the prevailing views of the staff of the SEC. Such "Plan of Distribution" section shall also allow, to the extent permitted by applicable policies and regulations of the SEC, the
use of the Prospectus by all Persons subject to the prospectus delivery requirements of the Securities Act, including, to the extent so 

 

permitted,
all Participating Broker-Dealers, and include a statement describing the manner in which Participating Broker-Dealers may resell the Exchange Notes. The Issuers shall use their best efforts
to keep the Exchange Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all Persons subject
to the prospectus delivery requirements of the Securities Act for such period of time as such Persons must comply with such requirements in order to resell the Exchange Notes;  provided that such period
shall not exceed the lesser of 180 days and the date on which all persons subject to the prospectus delivery
requirements of the Securities Act have sold all Exchange Notes held by them (the "Applicable Period"). 

	(f)
	If,
upon consummation of the Exchange Offer, the Initial Purchaser holds any Notes acquired by it and having the status of an unsold allotment in the initial distribution, the Issuers
(upon the written request from the Initial Purchaser) shall, simultaneously with the delivery of the Exchange Notes in the Exchange Offer, issue and deliver to the Initial Purchaser, in exchange (the
"Private Exchange") for the Notes held by the Initial Purchaser, a like principal amount of Senior Secured Notes that are identical to the Exchange
Notes except for the existence of restrictions on transfer thereof under the Securities Act and securities laws of the several states of the United States (the "Private
Exchange Notes") (and which are issued pursuant to the same indenture as the Exchange Notes).

	(g)
	In
connection with the Exchange Offer, the Issuers shall (and shall cause each Subsidiary Guarantor to):

	(i)
	mail
to each Holder a copy of the Prospectus forming part of the Exchange Registration Statement, together with an appropriate letter of transmittal that is an exhibit to the Exchange
Offer Registration Statement, and any related documents;

	(ii)
	keep
the Exchange Offer open for not less than 20 Business Days after the date notice thereof is mailed to the Holders (or longer if required by applicable law)

	(iii)
	utilize
the services of a depository for the Exchange Offer with an address in the Borough of Manhattan, the City of New York, which may be the Trustee or an affiliate thereof;

	(iv)
	permit
Holders to withdraw tendered Registrable Notes at any time prior to the close of business, New York time, on the last Business Day on which the Exchange Offer shall remain
open; and

	(v)
	otherwise
comply in all material respects with all applicable laws.

	(h)
	As
soon as practicable after the close of the Exchange Offer or the Private Exchange, as the case may be, the Issuers shall:

	(i)
	accept
for exchange all Registrable Notes validly tendered pursuant to the Exchange Offer or the Private Exchange, as the case may be, and not validly withdrawn;

	(ii)
	deliver
to the Trustee for cancellation all Registrable Notes so accepted for exchange; and

	(iii)
	cause
the Trustee to authenticate and deliver promptly to each Holder tendering such Registrable Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in
principal amount to the Notes of such Holder so accepted for exchange and including guarantees by the Subsidiary Guarantors.

	(i)
	The
Exchange Notes and the Private Exchange Notes may be issued under (i) the Indenture or (ii) an indenture identical to the Indenture (other than such changes as are
necessary to comply with any requirements of the SEC to effect or maintain the qualification thereof under the TIA), which in either event will provide that the Exchange Notes will not be subject to
the transfer restrictions set forth in the Indenture, that the Private Exchange Notes will be subject 

 

to
the transfer restrictions set forth in the Indenture, and that the Exchange Notes, the Private Exchange Notes and the Notes, if any, will be deemed one class of security (subject to the provisions
of the Indenture) and entitled to participate in all the security granted by the Issuers pursuant to the Collateral Agreements and in any Subsidiary Guarantee (as such terms are defined in the
Indenture) on an equal and ratable basis. 

	(j)
	If:
(i) applicable interpretations of the staff of the SEC would not permit the consummation of the Exchange Offer prior to the Effectiveness Date; (ii) subsequent to
the consummation of the Private Exchange, any Holder of Private Exchange Notes so requests; (iii) the Exchange Offer is not consummated within 30 Business Days from the date the Exchange
Registration Statement was declared effective; or (iv) in the case of (A) any Holder not permitted by applicable law or SEC policy to participate in the Exchange Offer, (B) any
Holder participating in the Exchange Offer that receives Exchange Notes that may not be sold without restriction under state and federal securities laws (other than due solely to the status of such
Holder as an affiliate of either of the Issuers within the meaning of the Securities Act) or (C) any broker-dealer that holds Notes acquired directly from the Issuers or any of their affiliates
and, in each such case contemplated by this clause (iv), such Holder notifies the Issuers prior to the completion of the Exchange Offer, then the Issuers shall promptly (and in any event within
five Business Days) deliver to the Holders (or in the case of an occurrence of any event described in clause (iv) of this Section 2(j), to any such Holder) and the Trustee notice thereof
(the "Shelf Notice") and shall as promptly as practicable thereafter (but in no event more than 45 days after the delivery of the Shelf Notice)
file an Initial Shelf Registration pursuant to Section 3. 

3.    Shelf Registration    

        If
a Shelf Notice is delivered pursuant to Section 2(j), then this Section 3 shall apply to all Registrable Notes. Otherwise, upon consummation of the Exchange Offer in
accordance with Section 2, the provisions of Section 3 shall apply solely with respect to (i) Notes held by any Holder thereof not
permitted to participate in the Exchange Offer, (ii) Notes held by any broker-dealer that acquired such Notes directly from the Issuers or any of their affiliates and (iii) Exchange
Notes that are not freely tradeable as contemplated by Section 2(j)(iv) hereof, provided in each case that the relevant Holder has duly notified the Issuers prior to completion of the
Exchange Offer as required by Section 2(j)(iv). 

	(a)
	Initial Shelf Registration.    The Issuers shall (and shall cause each Subsidiary Guarantor to), as promptly as practicable,
file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes (the "Initial
Shelf Registration"). If the Issuers (and any Subsidiary Guarantor) have not yet filed an Exchange Registration Statement, the Issuers shall (and shall cause each Subsidiary
Guarantor to) file with the SEC the Initial Shelf Registration on or prior to the Filing Date and shall use their best efforts to cause such Initial Shelf Registration to be declared effective under
the Securities Act on or prior to the Effectiveness Date. Otherwise, the Issuers shall (and shall cause each Subsidiary Guarantor to) use their best efforts to file with the SEC the Initial Shelf
Registration within 45 days of the delivery of the Shelf Notice and shall use their best efforts to cause such Shelf Registration to be declared effective under the Securities Act as promptly
as practicable thereafter (but in no event more than 90 days after delivery of the Shelf Notice). The Initial Shelf Registration shall be on Form S-1 or another appropriate
form permitting registration of such Registrable Notes for resale by Holders in the manner or manners reasonably designated by them (including, without limitation, one or more underwritten offerings).
The Issuers and Subsidiary Guarantors shall not permit any securities other than the Registrable Notes to be included in any Shelf Registration. The Issuers shall (and shall cause each Subsidiary
Guarantor to) use their best efforts to keep the Initial Shelf Registration continuously effective under the Securities Act until the date which is 24 months 

 

from
the Closing Date (subject to extension pursuant to the last paragraph of Section 5(u) (the "Effectiveness Period"), or such shorter period
ending when (i) all Registrable Notes covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the Initial Shelf Registration, (ii) a
Subsequent Shelf Registration covering all of the Registrable Notes covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration has been declared effective
under the Securities Act or (iii) there cease to be any outstanding Registrable Notes. 

	(b)
	Subsequent Shelf Registrations.    If the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below)
ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Issuers shall (and shall cause
each Subsidiary Guarantor to) use their best efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation
of effectiveness amend such Shelf Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file (and cause each Subsidiary Guarantor to file) an
additional "shelf" Registration Statement pursuant to Rule 415 covering all of the Registrable Notes (a "Subsequent Shelf Registration"). If a
Subsequent Shelf Registration is filed, the Issuers shall (and shall cause each Subsidiary Guarantor to) use their best efforts to cause the Subsequent Shelf Registration to be declared effective as
soon as practicable after such filing and to keep such Subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate
number of days during which the Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously effective. As used herein the term "Shelf Registration" means the Initial
Shelf Registration and any Subsequent Shelf Registrations

	(c)
	Supplements and Amendments.    The Issuers shall promptly supplement and amend any Shelf Registration if required by the
rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested in writing by the Holders of a
majority in aggregate principal amount of the Registrable Notes covered by such Shelf Registration or by any underwriter of such Registrable Notes.

	(d)
	Provision of Information.    No Holder of Registrable Notes shall be entitled to include any of its Registrable Notes in any
Shelf Registration pursuant to this Agreement unless such Holder furnishes to the Issuers and the Trustee in writing, within 20 days after receipt of a written request therefor, such
information as the Issuers and the Trustee after conferring with counsel with regard to information relating to Holders that would be required by the SEC to be included in such Shelf Registration or
Prospectus included therein, may reasonably request for inclusion in any Shelf Registration or Prospectus included therein, and no such Holder shall be entitled to Additional Interest pursuant to
Section 4 hereof unless and until such Holder shall have provided such information. 

4.    Additional Interest    

	(a)
	Each
Issuer and each Subsidiary Guarantor acknowledges and agrees that the Holders of Registrable Notes will suffer damages if the Issuers or any Subsidiary Guarantor fails to fulfill
its material obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuers and the
Subsidiary Guarantors agree to pay additional cash interest on the Notes ("Additional  

  

 Interest") under the circumstances and to the extent set forth below (each of which shall be given independent effect): 

	(i)
	if
neither the Exchange Registration Statement nor the Initial Shelf Registration has been filed with the SEC on or prior to the Filing Date, Additional Interest shall accrue on the
Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Filing Date, such Additional Interest
rate increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period;

	(ii)
	if
neither the Exchange Registration Statement nor the Initial Shelf Registration is declared effective on or prior to the Effectiveness Date, Additional Interest shall accrue on the
Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Additional
Interest rate increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period;

	(iii)
	if
(A) the Issuers (and any Subsidiary Guarantor) have not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange Offer on or
prior to the 30 Business Days after the Effectiveness Date, (B) the Exchange Registration Statement ceases to be effective at any time prior to the time that the Exchange Offer is consummated,
(C) if applicable, a Shelf Registration has been declared effective and such Shelf Registration ceases to be effective at any time prior to the second anniversary of the Closing Date (other
than such time as all Notes have been disposed of thereunder) and is not declared effective again within 30 days, or (D) pending the announcement of a material corporate transaction, the
Issuers issue a written notice pursuant to Section 5(e)(v) or (vi) that a Shelf Registration Statement or Exchange Registration Statement is unusable and the aggregate number of
days in any 365-day period for which all such notices issued or required to be issued, have been, or were required to be, in effect exceeds 120 days in the aggregate or
30 days consecutively, in the case of a Shelf Registration statement, or 15 days in the aggregate in the case of an Exchange Registration Statement, then Additional Interest shall accrue
on the Notes, over and above any stated interest, at a rate of 0.25% per annum of the principal amount of such Notes commencing on (w) the 31st Business Day after the Effectiveness Date, in the
case of (A) above, or (x) the date the Exchange Registration Statement ceases to be effective without being declared effective again within 30 days, in the case of
clause (B) above, or (y) the day such Shelf Registration ceases to be effective in the case of (C) above, or (z) the day the Exchange Registration Statement or Shelf
Registration ceases to be usable in case of clause (D) above, such Additional Interest rate increasing by an additional 0.25% per annum at the beginning of each such subsequent
90-day period; 

provided, however, that Additional Interest will not accrue under more than one of the foregoing clauses
(i), (ii) or (iii) at any one time; provided further, however, that the maximum Additional
Interest rate on the Notes may not exceed at any one time in the aggregate 1.00% per annum; and provided further,  however, that (1) upon the filing of
the Exchange Registration Statement or Initial Shelf Registration (in the case of (i) above),
(2) upon the effectiveness of the Exchange Registration Statement or Initial Shelf Registration (in the case of (ii) above), or (3) upon the exchange of Exchange Notes for all
Notes tendered (in the case of (iii)(A) above), or upon the effectiveness of the Exchange Registration Statement that had ceased to remain effective (in the case of clause (iii)(B) above), or
upon the effectiveness of a Shelf Registration which had ceased to remain effective (in the case of (iii)(C) above), Additional Interest on the Notes as a result of such clause (or the relevant
subclause thereof)

 
or upon the effectiveness of such Registration Statement or Exchange Registration Statement (in the case of clause (iii)(D) above), as the case may be, shall cease to accrue. 

	(b)
	The
Issuers shall notify the Trustee within 3 Business Days after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an
"Event Date"). Any amounts of Additional Interest due pursuant to clause (a)(i), (a)(ii) or (a)(iii) of this Section 4 will
be payable in cash, on the dates and in the manner provided in the Indenture and whether or not any cash interest would then be payable on such date,
commencing with the first such semi-annual date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by multiplying the
applicable Additional Interest rate by the principal amount of the Notes, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during
such period (determined on the basis of a 360-day year comprised of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed), and the
denominator of which is 360. 

5.    Registration Procedures    

        In
connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, the Issuers shall (and shall cause each Subsidiary Guarantor to) effect such registrations
to permit the sale of such securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement
filed by the Issuers hereunder, the Issuers shall (and shall cause each Subsidiary Guarantor to): 

	(a)
	Prepare
and file with the SEC as soon as practicable after the date hereof but in any event on or prior to the Filing Date, the Exchange Registration Statement or if the Exchange
Registration Statement is not filed because of the circumstances contemplated by Section 2(j), a Shelf Registration as prescribed by Section 3, and use its best efforts to cause each
such Registration Statement to become effective and remain effective as provided herein; provided that, if (1) a Shelf Registration is filed
pursuant to Section 3 or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, before filing any Registration Statement or Prospectus or any amendments or supplements
thereto the Issuers shall (and shall cause each Subsidiary Guarantor to), if requested, furnish to and afford the Holders of the Registrable Notes to be registered pursuant to such Shelf Registration
Statement, each Participating Broker-Dealer, the managing underwriters, if any, and each of their respective counsel, a reasonable opportunity to review copies of all such documents (including copies
of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in the case of the initial filing, at least 5 Business Days prior thereto). The Issuers and
each Subsidiary Guarantor shall not file any such Registration Statement or Prospectus or any amendments or supplements thereto in respect of which the Holders must provide information for the
inclusion therein without the Holders being afforded an opportunity to review such documentation if the holders of a majority in aggregate principal amount of the Registrable Notes covered by such
Registration Statement, or any such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, or any of their respective counsel shall reasonably object in writing on a
timely basis. A Holder shall be deemed to have reasonably objected to such filing if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains
an untrue statement of a material fact or omits to state any material fact necessary to make the statements therein not misleading or fails to comply with the applicable requirements of the Securities
Act. 

 

	(b)
	Provide
an indenture trustee for the Registrable Notes, the Exchange Notes or the Private Exchange Notes, as the case may be, and cause the Indenture (or other indenture relating to
the Registrable Notes) to be qualified under the TIA not later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may
be required for such indenture to be so qualified in accordance with the terms of the TIA; and execute, and use its best efforts to cause such trustee to execute, all documents as may be required to
effect such changes, and all other forms and documents required to be filed with the SEC to enable such indenture to be so qualified in a timely manner.

	(c)
	Prepare
and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration or Exchange Registration Statement, as the
case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the related Prospectus to
be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the
Securities Act; and comply with the provisions of the Securities Act and the Exchange Act applicable to them with respect to the disposition of all securities covered by such Registration Statement as
so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a Participating Broker-Dealer covered by any such Prospectus. The Issuers
and each Subsidiary Guarantor shall not, during the Applicable Period, voluntarily take any action that would result in selling Holders of the Registrable Notes covered by a Registration Statement or
Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell such Registrable Notes or such Exchange Notes during that period, unless such action is required by applicable law,
rule or regulation or permitted by this Agreement.

	(d)
	Furnish
to such selling Holders and Participating Broker-Dealers who so request in writing (i) upon the Issuers' receipt, a copy of the order of the SEC declaring such
Registration Statement and any post effective amendment thereto effective, (ii) such reasonable number of copies of such Registration Statement and of each amendment and supplement thereto (in
each case including any documents incorporated therein by reference and all exhibits), and (iii) such reasonable number of copies of the Prospectus included in such Registration Statement
(including each preliminary Prospectus) and each amendment and supplement thereto, and such reasonable number of copies of the final Prospectus as filed by the Issuers and each Subsidiary Guarantor
pursuant to Rule 424(b) under the Securities Act, in conformity with the requirements of the Securities Act and each amendment and supplement thereto. The Issuers and the Subsidiary Guarantors
hereby consent to the use of the Prospectus by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any,
and dealers, if any, in connection with the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and
any amendment or supplement thereto.

	(e)
	If
(1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2
is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, the Issuers shall notify in
writing the selling Holders of Registrable Notes, or each such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, and each of their respective counsel promptly (but in
any event within 2 Business Days) (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any
post-effective 

 

amendment,
when the same has become effective (including in such notice a written statement that any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement
or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the
SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose,
(iii) if at any time when a Prospectus is required by the Securities Act to be delivered in connection with sales of the Registrable Notes the representations and warranties of the Issuers and
any Subsidiary Guarantor contained in any agreement (including any underwriting agreement) contemplated by Section 5(m) hereof cease to be true and correct, (iv) of the receipt by the
Issuers or any Subsidiary Guarantor of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Notes
or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the
happening of any event, the existence of any condition of any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus
or documents so that, in the case of the Registration Statement and the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (vi) of any reasonable determination by the Issuers or any
Subsidiary Guarantor that a post-effective amendment to a Registration Statement would be appropriate and (vii) of any request by the SEC for amendments to the Registration
Statement or supplements to the Prospectus or for additional information relating thereto. 

	(f)
	Use
their reasonable best efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a
Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any
jurisdiction, and, if any such order is issued, to use its reasonable best efforts to obtain the withdrawal of any such order at the earliest possible date.

	(g)
	If
(A) a Shelf Registration is filed pursuant to Section 3, (B) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period or (C) reasonably requested in writing by the
managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Registrable Notes being sold in connection with an underwritten offering, (i) promptly
incorporate in a Prospectus supplement or post-effective amendment such information or revisions to information therein relating to such underwriters or selling Holders as the managing
underwriters, if any, or such Holders or any of their respective counsel reasonably request in writing to be included or made therein and (ii) make all required filings of such Prospectus
supplement or such post-effective amendment as soon as practicable after the Issuers have received notification of the matters to be incorporated in such Prospectus supplements or
post-effective amendment. 

  

	(h)
	Prior
to any public offering of Registrable Notes or any delivery of a Prospectus contained in the Exchange Registration Statement by any Participating Broker-Dealer who seeks to sell
Exchange Notes during the Applicable Period, use its reasonable best efforts to register or qualify, and to cooperate with the selling Holders of Registrable Notes or each such Participating
Broker-Dealer, as the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of
such Registrable Notes or Exchange Notes, as the case may be, for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder,
Participating Broker-Dealer or any managing underwriter or underwriters, if any, reasonably request in writing; provided that where Exchange Notes held
by Participating Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the Issuers and each Subsidiary Guarantor agree to cause its counsel to perform Blue Sky
investigations and file any registrations and qualifications required to be filed pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective
during the period such Registration Statement is required to be kept effective and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions
of the Exchange Notes held by Participating Broker-Dealers or the Registrable Notes covered by the applicable Registration Statement; provided that
neither the Issuers nor any Subsidiary Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that
would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so
subject.

	(i)
	If
(A) a Shelf Registration is filed pursuant to Section 3 or (B) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2
is requested to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of
Registrable Notes and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Notes to be sold, which certificates
shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company, and enable such Registrable Notes to be in such denominations and registered in
such names as the managing underwriter or underwriters, if any, or Holders may reasonably request.

	(j)
	Use
their reasonable best efforts to cause the Registrable Notes covered by any Registration Statement to be registered with or approved by such governmental agencies or authorities
as may be necessary to enable the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Registrable Notes, except as may be required solely as a consequence of
the nature of such selling Holder's business, in which case the Issuers shall (and shall cause each Subsidiary Guarantor to) cooperate in all reasonable respects with the filing of such Registration
Statement and the granting of such approvals; provided that neither the Issuers nor any existing Subsidiary Guarantor shall be required to
(A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any jurisdiction
where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject.

	(k)
	If
(1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2
is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by
paragraph 5(e)(v) or 5(e)(vi) hereof, as promptly as reasonably practicable, prepare and file 

 

with
the SEC, at the expense of the Issuers and the Subsidiary Guarantors, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Notes being
sold thereunder or to the purchasers of the Exchange Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, such Prospectus will not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and,
if SEC review is required, use its best efforts to cause such post-effective amendment to be declared effective as soon as possible. 

	(l)
	Prior
to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Registrable Notes in a form eligible for deposit with The
Depository Trust Company and (ii) provide a CUSIP number for the Exchange Notes.

	(m)
	If
a Shelf Registration is filed pursuant to Section 3, enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in
underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances) and take all such other actions in connection therewith (including those reasonably
requested in writing by the managing underwriters) in order to expedite or facilitate the disposition of such Registrable Notes in an underwritten offering, and in such connection, (i) make
such representations and warranties to the underwriters with respect to the business of the Issuers and the subsidiaries of the Company as then conducted, and the Registration Statement, Prospectus
and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten
offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required; (ii) obtain an opinion of counsel to the
Issuers and the Subsidiary Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters), addressed to each
of the underwriters covering the matters customarily covered in opinions of counsel to the Issuers and the Subsidiary Guarantors requested in underwritten offerings of debt securities similar to the
Notes, as may be appropriate in the circumstances; (iii) obtain "cold comfort" letters and updates thereof (which letters and updates (in form, scope and substance) shall be reasonably
satisfactory to the managing underwriters) from the independent certified public accountants of the Issuers and the Subsidiary Guarantors (and, if necessary, any other independent certified public
accountants of any subsidiary of the Issuers or of any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Registration
Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in "cold comfort" letters in connection with underwritten
offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and such other matters as reasonably requested in writing by the underwriters; and (iv) deliver
such documents and certificates as may be reasonably requested in writing by the managing underwriters to evidence the continued validity of the representations and warranties of the Issuers and the
subsidiaries of the Company made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting agreement or other similar agreement entered into by
the Issuers or any Subsidiary Guarantor.

	(n)
	If
(1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2
is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during 

 

the
Applicable Period, make available for inspection by any selling Holder of such Registrable Notes being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter
participating in any such disposition of Registrable Notes, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the
case may be, or underwriter (collectively, the "Inspectors"), at the offices where normally kept, during reasonable business hours, all financial and
other records and pertinent corporate documents of the Issuers and the subsidiaries of the Company (collectively, the "Records") as shall be reasonably
necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Issuers and the subsidiaries of the Company to supply all
information reasonably requested in writing by any such Inspector in connection with such Registration Statement. Each Inspector shall agree in writing that it will keep the Records confidential and
not disclose any of the Records unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement, (ii) the release of
such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) the information in such Records is public or has been made generally available to the
public other than as a result of a disclosure or failure to safeguard by such Inspector or (iv) disclosure of such information is, in the reasonable written opinion of counsel for any
Inspector, necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon,
related to, or involving this Agreement, or any transaction contemplated hereby or arising hereunder. Each selling Holder of such Registrable Notes and each such Participating Broker-Dealer will be
required to agree that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of
the Issuers unless and until such is made generally available to the public. Each Inspector, each selling Holder of such Registrable Notes and each such Participating Broker-Dealer will be required to
further agree that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Issuers and, to the extent practicable, use its best
efforts to allow the Issuers, at their expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential at their expense. 

	(o)
	Comply
with all applicable rules and regulations of the SEC and make generally available to the security holders of the Issuers with regard to any Applicable Registration Statement
earning statements satisfying the provisions of section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than
45 days after the end of any 12-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of
any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering,
commencing on the first day of the first fiscal quarter of the Issuers after the effective date of a Registration Statement, which statements shall cover said 12-month periods.

	(p)
	Upon
consummation of an Exchange Offer or Private Exchange, obtain an opinion of counsel to the Issuers and the Subsidiary Guarantors (in form, scope and substance reasonably
satisfactory to the Initial Purchaser), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer or Private Exchange, as the case may be, to the effect that
(i) the Issuers and the Subsidiary Guarantors have duly authorized, executed and delivered the Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture,
(ii) the Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture constitute legal, valid and binding obligations of the Issuers and the Subsidiary Guarantors,
enforceable against the Issuers and the Subsidiary Guarantors in accordance with their 

 

respective
terms, except as such enforcement may be subject to customary United States and foreign exceptions and (iii) all obligations of the Issuers and the Subsidiary Guarantors under the
Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture are secured by Liens (as defined in the Indenture) on the assets securing the obligations of the Issuers and the
Subsidiary Guarantors under the Notes, Indenture and Collateral Agreements to the extent and as discussed in the Registration Statement. 

	(q)
	If
the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by the Holders to the Issuers and the Subsidiary Guarantors (or to such other
Person as directed by the Issuers and the Subsidiary Guarantors) in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be, the Issuers and the Subsidiary Guarantors shall
mark, or caused to be marked, on such Registrable Notes that the Exchange Notes or the Private Exchange Notes, as the case may be, are being issued as substitute evidence of the indebtedness
originally evidenced by the Registrable Notes; provided that in no event shall such Registrable Notes be marked as paid or otherwise satisfied.

	(r)
	Cooperate
with each seller of Registrable Notes covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Notes and
their respective counsel in connection with any filings required to be made with the NASD.

	(s)
	Use
their best efforts to take all other steps reasonably necessary to effect the registration of the Registrable Notes covered by a Registration Statement contemplated hereby.

	(t)
	The
Issuers may require each seller of Registrable Notes or Participating Broker-Dealer as to which any registration is being effected to furnish to the Issuers such information
regarding such seller or Participating Broker-Dealer and the distribution of such Registrable Notes as the Issuers may, from time to time, reasonably request in writing. The Issuers may exclude from
such registration the Registrable Notes of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 45 days, subject to
Section 3(d)) hereof) after receiving such request. Each seller of Registrable Notes or Participating Broker-Dealer as to which any registration is being effected agrees to furnish promptly to
the Issuers all information required to be disclosed in order to make the information previously furnished by such seller not materially misleading.

	(u)
	Each
Holder of Registrable Notes and each Participating Broker-Dealer agrees by acquisition of such Registrable Notes or Exchange Notes to be sold by such Participating Broker-Dealer,
as the case may be, that, upon receipt of any notice from the Issuers of the happening of any event of the kind described in Section 5(e)(2)(ii), 5(e)(2)(iii), 5(e)(2)(iv), 5(e)(2)(v), or
5(e)(2)(vi), such Holder will forthwith discontinue disposition of such Registrable Notes covered by a Registration Statement and such Participating Broker-Dealer will forthwith discontinue
disposition of such Exchange Notes pursuant to any Prospectus and, in each case, forthwith discontinue dissemination of such Prospectus until such Holder's or Participating Broker-Dealer's receipt of
the copies of the supplemented or amended Prospectus contemplated by Section 5(k), or until it is advised in writing (the "Advice") by the
Issuers and the Subsidiary Guarantors that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Issuers and
the Subsidiary Guarantors, such Holder or Participating Broker-Dealer, as the case may be, will deliver to the Issuers all copies, other than permanent file copies, then in such Holder's or
Participating Broker-Dealer's possession, of the Prospectus covering such Registrable Notes current at the time of the receipt of such notice. In the event the Issuers and the Subsidiary Guarantors
shall give any such notice, the Applicable Period shall be extended by the number of days during such periods from and including the date of the giving of such notice to and including the date when
each Participating Broker-Dealer shall have 

 

received
(x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) or (y) the Advice. 

6.    Registration Expenses    

	(a)
	All
fees and expenses incident to the performance of or compliance with this Agreement by the Issuers and the Subsidiary Guarantors shall be borne by the Issuers and the Subsidiary
Guarantors, whether or not the Exchange Offer or a Shelf Registration is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without
limitation, (A) fees with respect to filings required to be made with the NASD in connection with any underwritten offering and (B) fees and expenses of compliance with state securities
or Blue Sky laws as provided in Section 5(h) hereof (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable
Notes or Exchange Notes and determination of the eligibility of the Registrable Notes or Exchange Notes for investment under the laws of such jurisdictions (x) where the Holders are located, in
the case of the Exchange Notes, or (y) as provided in Section 5(h), in the case of Registrable Notes or Exchange Notes to be sold by a Participating Broker-Dealer during the Applicable
Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters, if
any, or by the Holders of a majority in aggregate principal amount of the Registrable Notes included in any Registration Statement or by any Participating Broker-Dealer during the Applicable Period,
as the case may be, (iii) messenger, telephone and delivery expenses incurred in connection with the performance of their obligations hereunder, (iv) fees and disbursements of counsel
for the Issuers, the Subsidiary Guarantors and, subject to 6(b), the Holders participating in any Shelf Registration, (v) fees and disbursements of all independent certified public accountants
referred to in Section 5 (including, without limitation, the expenses of any special audit and "cold comfort" letters required by or incident to such performance), (vi) rating agency
fees and the fees and expenses incurred in connection with the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Issuers
and the Subsidiary Guarantors desire such insurance, (viii) fees and expenses of all other Persons retained by the Issuers and the Subsidiary Guarantors, (ix) fees and expenses of any
"qualified independent underwriter" or other independent appraiser participating in an offering pursuant to Section 3 of Schedule E to the By-laws of the NASD, but only where
the need for such a "qualified independent underwriter" arises due to a relationship with the Issuers and the Subsidiary Guarantors, (x) internal expenses of the Issuers and the Subsidiary
Guarantors (including, without limitation, all salaries and expenses of officers and employees of the Issuers or the Subsidiary Guarantors performing legal or accounting duties), (xi) the
expense of any annual audit, (xii) the fees and expenses of the Trustee and the Exchange Agent and (xiii) the expenses relating to printing, word processing and distributing all
Registration Statements, underwriting agreements, securities sales agreements, indentures and any other documents necessary in order to comply with this Agreement.

	(b)
	The
Issuers and the Subsidiary Guarantors shall reimburse the Holders for the reasonable fees and disbursements of not more than one counsel chosen by the Holders of a majority in
aggregate principal amount of the Registrable Notes to be included in any Shelf Registration or Exchange Offer. The Issuers and the Subsidiary Guarantors shall pay all documentary, stamp, transfer or
other transactional taxes attributable to the issuance or delivery of the Exchange Notes or Private Exchange Notes in exchange for the Notes; provided
that the Issuers shall not be required to pay taxes payable in respect of any transfer involved in the issuance or delivery of any Exchange Note or Private Exchange Note in a name other than that of
the Holder of the Note in respect of which such Exchange Note or Private Exchange 

 

Note
is being issued. The Issuers and the Subsidiary Guarantors shall reimburse the Holders for fees and expenses (including reasonable fees and expenses of counsel to the Holders) relating to any
enforcement of any rights of the Holders under this Agreement. 

7.    Indemnification    

	(a)
	Indemnification by the Issuers and the Subsidiary Guarantors.    The Issuers and the Subsidiary Guarantors jointly and
severally agree to indemnify and hold harmless each Holder of Registrable Notes, Exchange Notes or Private Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the
Applicable Period, each Person, if any, who controls each such Holder (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act) and the officers,
directors and partners of each such Holder, Participating Broker-Dealer and controlling person, to the fullest extent lawful, from and against any and all losses, claims, damages, liabilities, costs
(including, without limitation, reasonable costs of preparation and reasonable attorneys' fees as provided in this Section 7) and expenses (including, without limitation, reasonable costs and
expenses incurred in connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, "Losses"), as
incurred, directly or indirectly caused by, related to, based upon, arising out of or in connection with any untrue or alleged untrue statement of a material fact contained in any Registration
Statement, Prospectus or form of prospectus, or in any amendment or supplement thereto, or in any preliminary prospectus, or any omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading to the extent, but only to the extent, that such Losses are
finally judicially determined by a court of competent jurisdiction in a final, unappealable order, except insofar as such Losses are solely based upon information relating to such Holder or
Participating Broker-Dealer and furnished in writing to the Issuers and the Subsidiary Guarantors (or reviewed and approved in writing) by such Holder or Participating Broker-Dealer or their counsel
expressly for use therein; provided, however, that the Issuers and the Subsidiary Guarantors will not be
liable to any Indemnified Party (as defined below) under this Section 7 to the extent Losses were solely caused by an untrue statement or omission or alleged untrue statement or omission that
was contained or made in any preliminary prospectus and corrected in the Prospectus or any amendment or supplement thereto if (i) the Prospectus does not contain any other untrue statement or
omission or alleged untrue statement or omission of a material fact that was the subject matter of the related proceeding, (ii) any such Losses resulted from an action, claim or suit by any
Person who purchased Registrable Notes or Exchange Notes which are the subject thereof from such Indemnified Party and (iii) it is established in the related proceeding that such Indemnified
Party failed to deliver or provide a copy of the Prospectus (as amended or supplemented) to such Person with or prior to the confirmation of the sale of such Registrable Notes or Exchange Notes sold
to such Person if required by applicable law, unless such failure to deliver or provide a copy of the Prospectus (as amended or supplemented) was a result of noncompliance by the Issuers with
Section 5 of this Agreement. The Issuers and the Subsidiary Guarantors also agree to indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals
participating in the distribution, their officers, directors, agents and employees and each Person who controls such Persons (within the meaning of Section 5 of the Securities Act or
Section 20(a) of the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders or the Participating Broker-Dealer.

	(b)
	Indemnification by Holder.    In connection with any Registration Statement, Prospectus or form of prospectus, any amendment
or supplement thereto, or any preliminary prospectus in which a Holder is participating, such Holder shall furnish to the Issuers and the Subsidiary 

 

Guarantors
in writing such information as the Issuers and the Subsidiary Guarantors reasonably request for use in connection with any Registration Statement, Prospectus or form of prospectus, any
amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Issuers, the Subsidiary Guarantors, their respective directors and each Person, if any, who
controls the Issuers and the Subsidiary Guarantors (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and
partners of such controlling persons, to the fullest extent lawful, from and against all Losses arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any
Registration Statement, Prospectus or form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or any omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading to the extent, but only to the extent, that
such losses are finally judicially determined by a court of competent jurisdiction in a final, unappealable order to have resulted solely from an untrue statement or alleged untrue statement of a
material fact or omission or alleged omission of a material fact contained in or omitted from any information so furnished in writing by such Holder to the Issuers and the Subsidiary Guarantors
expressly for use therein. Notwithstanding the foregoing, in no event shall the liability of any selling Holder be greater in amount than such Holder's Maximum Contribution Amount (as defined below). 

	(c)
	Conduct of Indemnification Proceedings.    If any proceeding shall be brought or asserted against any Person entitled to
indemnity hereunder (an "Indemnified Party"), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the
"Indemnifying Party" or "Indemnifying Parties", as applicable) in writing;  provided, that the failure to so
notify the Indemnifying Parties shall not relieve the Indemnifying Parties from any obligation or liability except to
the extent (but only to the extent) that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal) that the Indemnifying Parties have been
prejudiced materially by such failure. 

        The
Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified Party, within 20 Business Days after receipt of written notice from such Indemnified
Party of such proceeding, to assume, at its expense, the defense of any such proceeding, provided, that an Indemnified Party shall have the right to
employ separate counsel in any such proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or parties unless:
(1) the Indemnifying Party has agreed to pay such fees and expenses; or (2) the Indemnifying Party shall have failed promptly to assume the defense of such proceeding or shall have
failed to employ counsel reasonably satisfactory to such Indemnified Party; or (3) the named parties to any such proceeding (including any impleaded parties) include both such Indemnified Party
and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by counsel that there may be one or more defenses available to such
Indemnified Party that are in addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such Indemnified Party
notifies the Indemnifying Parties in writing that it elects to employ separate counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the
defense and the reasonable fees and expenses of such counsel shall be at the expense of the Indemnifying Party; it being understood, however, that, the Indemnifying Party shall not, in connection with
any one such proceeding or separate but substantially similar or related proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the fees and
expenses of more than one separate firm of attorneys (together with appropriate local counsel) at any time for such Indemnified Party).

 

        No
Indemnifying Party shall be liable for any settlement of any such proceeding effected without its written consent, which shall not be unreasonably withheld, but if settled with its
written consent, or if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject to the exceptions and limitations set forth
above, to indemnify and hold harmless each Indemnified Party from and against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any
judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance
reasonably satisfactory to the Indemnified Party, from all liability in respect of such proceeding for which such Indemnified Party would be entitled to indemnification hereunder (whether or not any
Indemnified Party is a party thereto). 

	(d)
	Contribution.    If the indemnification provided for in this Section 7 is unavailable to an Indemnified Party or is
insufficient to hold such Indemnified Party harmless for any Losses in respect of which this Section 7 would otherwise apply by its terms (other than by reason of exceptions provided in this
Section 7), then each applicable Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by
such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and such Indemnified Party, on the
other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party,
on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact relates to information supplied by such Indemnifying Party or Indemnified Party, and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent any such statement or omission. The amount paid or payable by an Indemnified Party as a result of any Losses shall be deemed to include any legal or other fees or
expenses incurred by such party in connection with any proceeding, to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in
Section 7(a) or 7(b) was available to such party. 

        The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7(d) were determined by pro rata allocation or by other method of
allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 7(d), a selling Holder
shall not be required to contribute, in the aggregate, any amount in excess of such Holder's Maximum Contribution Amount. A selling Holder's "Maximum Contribution
Amount" shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over
(ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation. The Holders' obligations to contribute pursuant to this Section 7(d) are several in proportion to the respective principal amount of the Registrable Securities held by each
Holder hereunder and not joint. The Issuers' and Subsidiary Guarantors' obligations to contribute pursuant to this Section 7(d) are joint and several.

   
        The indemnity and contribution agreements contained in this Section 7 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. 

8.    Rules 144 and 144A    

        The
Issuers covenant that they shall (a) file the reports required to be filed by it (if so required) under the Securities Act and the Exchange Act in a timely manner and, if at
any time the Issuers are not required to file such reports, they will, upon the written request of any Holder of Registrable Notes, make publicly available other information necessary to permit sales
pursuant to Rule 144 and 144A and (b) take such further action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell
Registrable Notes without registration under the Securities Act pursuant to the exemptions provided by Rule 144 and Rule 144A. Upon the request of any Holder, the Issuers shall deliver
to such Holder a written statement as to whether they have complied with such information and requirements. 

9.    Underwritten Registrations of Registrable Notes    

        If
any of the Registrable Notes covered by any Shelf Registration is to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will
manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Notes included in such offering;  provided, however, that such investment banker or investment bankers and manager or managers must be
reasonably acceptable to the Issuers. 

        No
Holder of Registrable Notes may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder's Registrable Notes on the basis
provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 

10.    Miscellaneous    

	(a)
	Remedies.    In the event of a breach by either of the Issuers or any of the Subsidiary Guarantors of any of their respective
obligations under this Agreement, each Holder, in addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Initial Purchaser, in the Purchase
Agreement, or granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Issuers and the Subsidiary Guarantors agree that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by either of the Issuers or any of the Subsidiary Guarantors of any of the provisions of this Agreement and
hereby further agree that, in the event of any action for specific performance in respect of such breach, the Issuers shall (and shall cause each Subsidiary Guarantor to) waive the defense that a
remedy at law would be adequate.

	(b)
	No Inconsistent Agreements.    The Issuers and each of the Subsidiary Guarantors have not entered, as of the date hereof, and
the Issuers and each of the Subsidiary Guarantors shall not enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights
granted to the Holders of Securities in this Agreement or otherwise conflicts with the provisions hereof. Neither of the Issuers nor any of the Subsidiary Guarantors has not entered or will not enter
into any agreement with respect to any of its securities that will grant to any Person piggy-back rights with respect to a Registration Statement.

	(c)
	Adjustments Affecting Registrable Notes.    The Issuers shall not, directly or indirectly, take any action with respect to
the Registrable Notes as a class that would adversely affect the ability of 

 

the
Holders to include such Registrable Notes in a registration undertaken pursuant to this Agreement. 

	(d)
	Amendments and Waivers.    The provisions of this Agreement may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of the Holders of not less than a majority in aggregate principal amount of the then
outstanding Registrable Notes in circumstances that would adversely affect any Holders of Registrable Notes; provided,  however, that Section 7 and
this Section 10(d) may not be amended, modified or supplemented without the prior written consent of each
Holder. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Notes whose
securities are being tendered pursuant to the Exchange Offer or sold pursuant to a Notes Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights
of other Holders of Registrable Notes may be given by Holders of at least a majority in aggregate principal amount of the Registrable Notes being tendered or being sold by such Holders pursuant to
such Notes Registration Statement.

	(e)
	Notices.    All notices and other communications provided for or permitted hereunder shall be made in writing by hand
delivery, registered first-class mail, next-day air courier or telecopier:

	(i)
	if
to a Holder of Securities or to any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the
records of the registrar of the Notes, with a copy in like manner to the Initial Purchaser as follows: 

JEFFERIES &
COMPANY, INC.

11100 Santa Monica Boulevard

10th Floor

Los Angeles, California 90025

Facsimile No.: (310) 575-5165

Attention: Lloyd H. Feller, Esq. 

with
a copy to: 

Mayer,
Brown, Rowe & Maw LLP

1675 Broadway

New York, New York 10019

Facsimile No.: (212) 262-1910

Attention: Ronald S. Brody, Esq. 

	(ii)
	if
to the Initial Purchaser, at the address specified in Section 10(e)(1);

	(iii)
	if
to the Issuers or any Subsidiary Guarantor, as follows: 

Mrs. Fields
Famous Brands, LLC

2855 Cottonwood Parkway, Suite 400

Salt Lake City, Utah 84121

Attention: Michael R. Ward, Esq. 

with
a copy to: 

Skadden,
Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036-6522

Attention Randall H. Doud, Esq.

 

        All
such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five business days after being deposited in the United
States mail, postage prepaid, if mailed, one business day after being deposited in the United States mail, postage prepaid, if mailed; one business day after being timely delivered to a
next-day air courier guaranteeing overnight delivery; and when receipt is acknowledged by the addressee, if telecopied. 

        Copies
of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in
such Indenture. 

	(f)
	Successors and Assigns.    This Agreement shall inure to the benefit of and be binding upon the successors and assigns of
each of the parties hereto, including, without limitation and without the need for an express assignment, subsequent Holders of Securities.

	(g)
	Counterparts.    This Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

	(h)
	Headings.    The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

	(i)
	Governing Law.    THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAW. THE ISSUERS HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR
ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR
THEIR AND IN RESPECT OF THEIR PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. THE ISSUERS IRREVOCABLY WAIVE, TO THE FULLEST EXTENT THEY MAY EFFECTIVELY DO SO UNDER
APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE ISSUERS IRREVOCABLY CONSENT, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TO
THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE ISSUERS AT THEIR
SAID ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE
LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE ISSUERS IN ANY OTHER JURISDICTION.

	(j)
	Severability.    If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no
way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is 

 

hereby
stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable. 

	(k)
	Securities Held by the Issuers or Their Affiliates.    Whenever the consent or approval of Holders of a specified percentage
of Securities is required hereunder, Securities held by the Issuers or their affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage.

	(l)
	Third Party Beneficiaries.    Holders and Participating Broker-Dealers are intended third party beneficiaries of this
Agreement and this Agreement may be enforced by such Persons.

	(m)
	Entire Agreement.    This Agreement, together with the Purchase Agreement, the Indenture and the Collateral Agreements, is
intended by the parties as a final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior
oral or written agreements, representations, or warranties, contracts, understanding, correspondence, conversations and memoranda between the Initial Purchaser on the one hand and the Issuers and the
Subsidiary Guarantors on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect to the subject
matter hereof and thereof are merged herein and replaced hereby.

	(n)
	Single Class of Notes.    The Exchange Notes, the Private Exchange Notes and the Notes together with the 9% Senior Secured
Notes due 2011 of the Issuers issued under the Indenture will be deemed a single class of securities for purposes of this Agreement. All rights and obligations of the Issuers and the Subsidiary
Guarantors under this Agreement with respect to the holders of Registrable Notes shall be with respect to the holders of the Registrable Notes hereunder and the holders of Registrable Notes as defined
in the Registration Rights Agreement, dated the Closing Date, by and among the Issuers and the Subsidiary Guarantors for the benefit of the holders of the 9% Senior Secured Notes due 2011 treated as a
single class. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. 

	 	 	MRS. FIELDS FAMOUS BRANDS, LLC, as Issuer
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

MRS. FIELDS FINANCING COMPANY, INC., as Co-Issuer
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

MRS. FIELDS FRANCHISING, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

PRETZEL TIME FRANCHISING, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

PRETZELMAKER FRANCHISING, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

TCBY SYSTEMS, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

MRS. FIELDS GIFTS, INC., as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President

	

 	
 	

THE MRS. FIELDS' BRAND, INC., as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

GREAT AMERICAN MANUFACTURING, LLC, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President:
	

 	
 	

MRS. FIELDS COOKIES AUSTRALIA, as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

TCBY INTERNATIONAL, INC., as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President
	

 	
 	

TCBY OF TEXAS, INC., as Subsidiary Guarantor
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Name:	 	Michael Ward
	 	 	Title:	 	Senior Vice President

	

ACCEPTED AND AGREED TO:	
 	

 
	

JEFFERIES & COMPANY, INC.	
 	

 
	

By	
 	

/s/  M. BRENT STEVENS      
	
 	

 
	Name:	 	M. Brent Stevens	 	 
	Title:	 	Executive Vice President	 	 

QuickLinks

REGISTRATION RIGHTS AGREEMENT

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