Document:

efc8-1209_6640767ex42.htm

    
      

      Exhibit 4.2

       

       

        
          

        

      

       

       

       

      
 

    

    KBW,
INC.

     

    AND

     

    [•],
Trustee

     

     

     

     

    Subordinated
Indenture

     

    Dated as
of [•]

     

    
      

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        CROSS
REFERENCE SHEET

         

        -------------------------------------------------------

         

        Between

         

        Provisions
of Trust Indenture Act of 1939 and Subordinated Indenture to be dated as of [•]
between KBW, INC. and [•], Trustee.

         

        
          	
                  Section of the
      Act

                	
                  Section of the
      Indenture

                
	 
      	 
      
	
                  310(a)(1)
      and (2)

                	
                  6.09

                
	
                  310(a)(3)
      and (4)

                	
                  Inapplicable

                
	
                  310(b)

                	
                  6.08
      and 6.10(a), (b) and (d)

                
	
                  310(c)

                	
                  Inapplicable

                
	
                  311(a)

                	
                  [Inaplicable]

                
	
                  311(b)

                	
                  [Inaplicable]

                
	
                  312(a)

                	
                  4.01

                
	
                  312(b)

                	
                  4.02

                
	
                  312(c)

                	
                  4.02

                
	
                  313(a)

                	
                  4.04

                
	
                  313(b)(1)

                	
                  Inapplicable

                
	
                  313(b)(2)

                	
                  Inapplicable

                
	
                  313(c)

                	
                  4.04

                
	
                  313(d)

                	
                  4.03

                
	
                  314(a)

                	
                  4.03

                
	
                  314(b)

                	
                  Inapplicable

                
	
                  314(c)(1)
      and (2)

                	
                  11.05

                
	
                  314(c)(3)

                	
                  Inapplicable

                
	
                  314(d)

                	
                  Inapplicable

                
	
                  314(e)

                	
                  11.05

                
	
                  314(f)

                	
                  Inapplicable

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

                	
                  6.01

                
	
                  315(b)

                	
                  5.11

                
	
                  315(e)

                	
                  5.12

                
	
                  316(a)(1)

                	
                  5.09

                
	
                  316(a)(2)

                	
                  Inapplicable

                
	
                  316(b)

                	
                  5.07

                
	
                  317(a)(1)

                	
                  5.02

                
	
                  317(a)(2)

                	
                  5.02(a)

                
	
                  317
      (b)

                	
                  3.04(a)
      and (b)

                
	
                  318(a)

                	
                  11.07

                

        

        

        Note:  This
reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Subordinated Indenture.

         

         

         

         

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
 

    

    TABLE OF
CONTENTS

     

    PAGE

     

    
      	
              ARTICLE
      1

            
	
              DEFINITIONS

            
	 
      
	
              Section
      1.01.

            	
              Certain
      Terms Defined

            	
              1

            
	 
      
	
              ARTICLE
      2

            
	
              SECURITIES

            
	 
      
	
              Section
      2.01.

            	
              Forms
      Generally

            	
              6

            
	
              Section
      2.02.

            	
              Form
      of Trustee’s Certificate of Authentication

            	
              6

            
	
              Section
      2.03.

            	
              Amount
      Unlimited; Issuable in Series

            	
              7

            
	
              Section
      2.04.

            	
              Authentication
      and Delivery of Securities

            	
              9

            
	
              Section
      2.05.

            	
              Execution
      of Securities

            	
              11

            
	
              Section
      2.06.

            	
              Certificate
      of Authentication

            	
              12

            
	
              Section
      2.07.

            	
              Denomination
      and Date of Securities; Payments of Interest

            	
              12

            
	
              Section
      2.08.

            	
              Registration,
      Transfer and Exchange

            	
              13

            
	
              Section
      2.09.

            	
              Mutilated,
      Defaced, Destroyed, Lost and Stolen Securities

            	
              16

            
	
              Section
      2.10.

            	
              Cancellation
      of Securities; Disposition Thereof

            	
              17

            
	
              Section
      2.11.

            	
              Temporary
      Securities

            	
              17

            
	 
      
	
              ARTICLE
      3

            
	
              COVENANTS
      OF THE ISSUER

            
	 
      
	
              Section
      3.01.

            	
              Payment
      of Principal and Interest

            	
              18

            
	
              Section
      3.02.

            	
              Offices
      for Payments, etc

            	
              18

            
	
              Section
      3.03.

            	
              Appointment
      to Fill a Vacancy in Office of Trustee

            	
              19

            
	
              Section
      3.04.

            	
              Paying
      Agents

            	
              19

            
	
              Section
      3.05.

            	
              Written
      Statement to Trustee

            	
              20

            
	 
      
	
              ARTICLE
      4

            
	
              SECURITYHOLDERS
      LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

            
	 
      
	
              Section
      4.01.

            	
              Issuer
      to Furnish Trustee Information as to Names and Addresses of
      Securityholders

            	
              21

            
	
              Section
      4.02.

            	
              Preservation
      and Disclosure of Securityholders Lists

            	
              21

            
	
              Section
      4.03.

            	
              Reports
      by the Issuer

            	
              21

            
	
              Section
      4.04.

            	
              Reports
      by the Trustee

            	
              21

            

    

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

     

    
      	 
      
	
              ARTICLE
      5

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

            
	 
      
	
              Section
      5.01.

            	
              Event
      of Default Defined; Acceleration of Maturity; Waiver of Event of
      Default

            	
              21

            
	
              Section
      5.02.

            	
              Collection
      of Indebtedness by Trustee; Trustee May Prove Debt

            	
              23

            
	
              Section
      5.03.

            	
              Application
      of Proceeds

            	
              25

            
	
              Section
      5.04.

            	
              Suits
      for Enforcement

            	
              26

            
	
              Section
      5.05.

            	
              Restoration
      of Rights on Abandonment of Proceedings

            	
              26

            
	
              Section
      5.06.

            	
              Limitations
      on Suits by Securityholders; Default Defined

            	
              26

            
	
              Section
      5.07.

            	
              Unconditional
      Right of Securityholders to Institute Certain Suits

            	
              28

            
	
              Section
      5.08.

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

            	
              28

            
	
              Section
      5.09.

            	
              Control
      by Holders of Securities

            	
              28

            
	
              Section
      5.10.

            	
              Waiver
      of Past Defaults

            	
              29

            
	
              Section
      5.11.

            	
              Trustee
      to Give Notice of Default, But May Withhold In Certain
      Circumstances

            	
              29

            
	
              Section
      5.12.

            	
              Right
      of Court to Require Filing of Undertaking to Pay Costs

            	
              30

            
	 
      
	
              ARTICLE
      6

            
	
              CONCERNING
      THE TRUSTEE

            
	 
      
	
              Section
      6.01.

            	
              Duties
      and Responsibilities of the Trustee; During Default; Prior to
      Default

            	
              30

            
	
              Section
      6.02.

            	
              Certain
      Rights of the Trustee

            	
              31

            
	
              Section
      6.03.

            	
              Trustee
      Not Responsible for Recitals, Disposition of Securities or Application of
      Proceeds Thereof

            	
              32

            
	
              Section
      6.04.

            	
              Trustee
      and Agents May Hold Securities or Coupons; Collections,
etc

            	
              32

            
	
              Section
      6.05.

            	
              Moneys
      Held by Trustee

            	
              32

            
	
              Section
      6.06.

            	
              Compensation
      and Indemnification of Trustee and Its Prior Claim

            	
              33

            
	
              Section
      6.07.

            	
              Right
      of Trustee to Rely on Officer’s Certificate, etc

            	
              33

            
	
              Section
      6.08.

            	
              Disqualification;
      Conflicting Interests

            	
              33

            
	
              Section
      6.09.

            	
              Persons
      Eligible for Appointment as Trustee

            	
              33

            
	
              Section
      6.10.

            	
              Resignation
      and Removal; Appointment of Successor Trustee

            	
              34

            
	
              Section
      6.11.

            	
              Acceptance
      of Appointment by Successor Trustee

            	
              35

            
	
              Section
      6.12.

            	
              Merger,
      Conversion, Consolidation or Succession to Business of
    Trustee

            	
              36

            
	
              Section
      6.13.

            	
              Appointment
      of Authenticating Agent

            	
              37

            
	 
      
	
              ARTICLE
      7

            
	
              CONCERNING
      THE SECURITYHOLDERS

            
	 
      
	
              Section
      7.01.

            	
              Evidence
      of Action Taken by Securityholders

            	
              38

            
	
              Section
      7.02.

            	
              Proof
      of Execution of Instruments and of Holding of Securities

            	
              38

            
	
              Section
      7.03.

            	
              Holders
      to Be Treated as Owners

            	
              39

            
	
              Section
      7.04.

            	
              Securities
      Owned by Issuer Deemed not Outstanding

            	
              39

            
	
              Section
      7.05.

            	
              Right
      of Revocation of Action Taken

            	
              40

            

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

     

    
      	 
      
	
              ARTICLE
      8

            
	
              SUPPLEMENTAL
      INDENTURES

            
	 
      
	
              Section
      8.01.

            	
              Supplemental
      Indentures Without Consent of Securityholders

            	
              40

            
	
              Section
      8.02.

            	
              Supplemental
      Indentures with Consent of Securityholders

            	
              41

            
	
              Section
      8.03.

            	
              Effect
      of Supplemental Indenture

            	
              43

            
	
              Section
      8.04.

            	
              Documents
      to Be Given to Trustee

            	
              43

            
	
              Section
      8.05.

            	
              Notation
      on Securities in Respect of Supplemental Indentures

            	
              43

            
	
              Section
      8.06.

            	
              Subordination
      Unimpaired

            	
              43

            
	 
      
	
              ARTICLE
      9

            
	
              CONSOLIDATION,
      MERGER, SALE OR CONVEYANCE

            
	 
      
	
              Section
      9.01.

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

            	
              44

            
	
              Section
      9.02.

            	
              Successor
      Corporation Substituted

            	
              44

            
	
              Section
      9.03.

            	
              Opinion
      of Counsel Delivered to Trustee

            	
              44

            
	 
      
	
              ARTICLE
      10

            
	
              SATISFACTION
      AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS

            
	 
      
	
              Section
      10.01.

            	
              Satisfaction
      and Discharge of Indenture

            	
              45

            
	
              Section
      10.02.

            	
              Application
      by Trustee of Funds Deposited for Payment of Securities

            	
              49

            
	
              Section
      10.03.

            	
              Repayment
      of Moneys Held by Paying Agent

            	
              49

            
	
              Section
      10.04.

            	
              Return
      of Moneys Held by Trustee and Paying Agent Unclaimed for Two
      Years

            	
              50

            
	
              Section
      10.05.

            	
              Indemnity
      for U.S. Government Obligations

            	
              50

            
	 
      
	
              ARTICLE
      11

            
	
              MISCELLANEOUS
      PROVISIONS

            
	 
      
	
              Section
      11.01.

            	
              Incorporators,
      Stockholders, Officers and Directors of Issuer Exempt from Individual
      Liability

            	
              50

            
	
              Section
      11.02.

            	
              Provisions
      of Indenture for the Sole Benefit of Parties and Holders of Securities and
      Coupons

            	
              51

            
	
              Section
      11.03.

            	
              Successors
      and Assigns of Issuer Bound by Indenture

            	
              51

            
	
              Section
      11.04.

            	
              Notices
      and Demands on Issuer, Trustee and Holders of Securities and
      Coupons

            	
              51

            
	
              Section
      11.05.

            	
              Officer’s
      Certificates and Opinions of Counsel; Statements to Be Contained
      Therein

            	
              51

            
	
              Section
      11.06.

            	
              Payments
      Due on Saturdays, Sundays and Holidays

            	
              52

            
	
              Section
      11.07.

            	
              Conflict
      of Any Provision of Indenture with Trust Indenture Act of
    1939

            	
              53

            
	
              Section
      11.08.

            	
              New
      York Law to Govern

            	
              53

            
	
              Section
      11.09.

            	
              Counterparts

            	
              53

            
	
              Section
      11.10.

            	
              Effect
      of Headings

            	
              53

            
	
              Section
      11.11.

            	
              Securities
      in a Foreign Currency

            	
              53

            
	
              Section
      11.12.

            	
              Judgment
      Currency

            	
              53

            

    

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

    

     

    
      	 
      
	
              ARTICLE
      12

            
	
              REDEMPTION
      OF SECURITIES AND SINKING FUNDS

            
	 
      
	
              Section
      12.01.

            	
              Applicability
      of Article

            	
              54

            
	
              Section
      12.02.

            	
              Notice
      of Redemption; Partial Redemptions

            	
              54

            
	
              Section
      12.03.

            	
              Payment
      of Securities Called for Redemption

            	
              56

            
	
              Section
      12.04.

            	
              Exclusion
      of Certain Securities from Eligibility for Selection for
      Redemption

            	
              56

            
	
              Section
      12.05.

            	
              Mandatory
      and Optional Sinking Funds

            	
              57

            
	 
      
	
              ARTICLE
      13

            
	
              SUBORDINATION

            
	 
      
	
              Section
      13.01.

            	
              Securities
      and Coupons Subordinated to Senior Indebtedness

            	
              59

            
	
              Section
      13.02.

            	
              Disputes
      with Holders of Certain Senior Indebtedness

            	
              60

            
	
              Section
      13.03.

            	
              Subrogation

            	
              61

            
	
              Section
      13.04.

            	
              Obligation
      of Issuer Unconditional

            	
              61

            
	
              Section
      13.05.

            	
              Payments
      on Securities and Coupons Permitted

            	
              61

            
	
              Section
      13.06.

            	
              Effectuation
      of Subordination by Trustee

            	
              62

            
	
              Section
      13.07.

            	
              Knowledge
      of Trustee

            	
              62

            
	
              Section
      13.08.

            	
              Trustee
      May Hold Senior Indebtedness

            	
              62

            
	
              Section
      13.09.

            	
              Rights
      of Holders of Senior Indebtedness Not Impaired

            	
              62

            
	
              Section
      13.10.

            	
              Article
      Applicable to Paying Agents

            	
              62

            
	
              Section
      13.11.

            	
              Trustee;
      Compensation Not Prejudiced

            	
              63

            

    

     

     

    
      
        
        

      

      
        iv

        
          

        

      

      
        
        

      

    

    
 

    THIS
INDENTURE, dated as of [•] between KBW, INC., a Delaware corporation (the
“Issuer”), and [•], as trustee (the “Trustee”),

     

    W I T N E
S S E T H :

     

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

     

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

     

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

     

    NOW,
THEREFORE:

     

    In
consideration of the premises and the purchases of the Securities by the holders
thereof, the Issuer and the Trustee mutually covenant and agree for the equal
and proportionate benefit of the respective holders from time to time of the
Securities and of the coupons, if any, appertaining thereto as
follows:

     

    ARTICLE
1

    DEFINITIONS

     

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

     

    “Authenticating
Agent” shall have the meaning set forth in Section 6.13.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Authorized
Newspaper” means a newspaper, in an official language of the place of
publication or in the English language, customarily published on each day that
is a Business Day in the place of publication, whether or not published on days
that are legal holidays in the place of publication, and of general circulation
in each place in connection with which the term is used or in the financial
community of each such place.  Where successive publications are
required to be made in Authorized Newspapers, the successive publications may be
made in the same or in different newspapers in the same city meeting the
foregoing requirements and in each case on any day that is a Business Day in the
place of publication.

     

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

     

    “Board
Resolution” means a copy of one or more resolutions, certified by the secretary
or an assistant secretary of the Issuer to have been duly adopted or consented
to by the Board of Directors and to be in full force and effect, and delivered
to the Trustee.

     

    “Business
Day” means, with respect to any Security, unless otherwise specified pursuant to
Section 2.03, a day that in the city (or in any of the cities, if more than one)
in which amounts are payable, as specified in the form of such Security, is not
a day on which banking institutions are authorized or required by law or
regulation to close.

     

    “Commission”
means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or if at any time after the
execution and delivery of this Indenture such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then the
body performing such duties on such date.

     

    “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 as of which this Indenture is dated,
located in New York, New York.

     

    “Coupon”
means any interest coupon appertaining to a Security.

     

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

     

    “Default”
shall have the meaning set forth in Section 5.06.

     

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

     

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

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

     

    “Foreign
Currency”  means any currency, currency unit or composite currency,
including, without limitation, the euro, issued by the government of one or more
countries other than the United States of America or by any recognized
confederation or association of such governments.

     

     “Holder”,
“Holder of Securities”, “Securityholder” or other similar terms mean (a) in the
case of any Registered Security, the Person in whose name such Security is
registered in the security register kept by the Issuer for that purpose in
accordance with the terms hereof, and (b) in the case of any Unregistered
Security, the bearer of such Security, or any Coupon appertaining thereto, as
the case may be.

     

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

     

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

     

    “Issuer”
means (except as otherwise provided in Article 6) KBW, Inc., a Delaware
corporation and, subject to Article 9, its successors and assigns.

     

    “Issuer
Order” means a written statement, request or order of the Issuer signed in its
name by any one of the following: the Chairman of the Board, the Chief Executive
Officer,  the Chief Financial Officer, the President, the Chief
Operating Officer, the General Counsel, any Vice President, the Treasurer, an
Assistant Treasurer, the Secretary, an Assistant Secretary  or any
other person authorized by the Board of Directors to execute any such written
statement, request or order.

     

    “Judgment
Currency” shall have the meaning set forth in Section 11.12.

     

    “Officer’s
Certificate” means a certificate (i) signed by any one of the following: the
Chairman of the Board, the Chief Executive Officer,  the Chief
Financial Officer, the President, the Chief Operating Officer, the General
Counsel, any Vice President, the Treasurer, an Assistant Treasurer, the
Secretary, an Assistant Secretary or any other person authorized by the Board of
Directors to execute any such certificate and (ii) delivered to the
Trustee.  Each such certificate shall comply with Section 314 of the
Trust Indenture Act of 1939 and include the statements provided for in Section
11.05.

     

    “Opinion
of Counsel” means an opinion in writing signed by the General Counsel of the
Issuer, or by such other legal counsel who may be an employee of or counsel to
the Issuer and who shall be satisfactory to the Trustee.  Each such
opinion shall comply with Section 314 of the Trust Indenture Act of 1939 and
include the statements provided for in Section 11.05.

     

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

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

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

     

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

     

    In
determining whether the Holders of the requisite principal amount of Outstanding
Securities of any or all series have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of an
Original Issue Discount Security that shall be deemed to be Outstanding for such
purposes shall be the amount of the principal thereof that would be due and
payable as of the date of such determination upon a declaration of acceleration
of the maturity thereof pursuant to Section 5.01.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

    “Required
Currency” shall have the meaning set forth in Section 11.12.

     

    “Responsible
Officer” when used with respect to the Trustee means the chairman of the Board
of Directors, any vice chairman of the board of directors, the chairman of the
trust committee, the chairman of the executive committee, any vice chairman of
the executive committee, the president, any vice president, (whether or not
designated by numbers or words added before or after the title “vice president”)
the cashier, the secretary, the treasurer, any trust officer, any assistant
trust officer, any assistant vice president, any assistant cashier, any
assistant secretary, any assistant treasurer, or any other officer or assistant
officer of the Trustee customarily performing 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 his knowledge of
and familiarity with the particular subject.

     

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

     

    “Senior
Indebtedness” means (i) obligations (other than non-recourse obligations, the
Securities or any other obligations specifically designated as being subordinate
in right of payment to Senior Indebtedness) of, or guaranteed or assumed by, the
Issuer for borrowed money or evidenced by bonds, debentures, notes or other
similar instruments, and amendments, renewals, extensions, modifications and
refundings of any such indebtedness or obligation and (ii) if provided in the
supplemental indenture under which a series of Securities is issued or in the
form of Security for such series, any additional obligations that the Issuer
determines to include within the definition of Senior Indebtedness in order to
assure that the Securities of such series will be accorded the regulatory
capital recognition desired by the Issuer in accordance with Rule 15c3-1 under
the Securities Exchange Act of 1934, as amended, or any other rule or regulation
governing the definition of capital that is applicable to the Issuer or its
affiliates.

     

    “Trust
Indenture Act of 1939” means the Trust Indenture Act of 1939.

     

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

     

    “Unregistered
Security” means any Security other than a Registered Security.

     

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

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    “Yield to
Maturity” means the yield to maturity on a series of securities, calculated at
the time of issuance of such series, or, if applicable, at the most recent
redetermination of interest on such series, and calculated in accordance with
accepted financial practice.

     

    ARTICLE
2

    SECURITIES

     

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

     

    The
definitive Securities and Coupons, if any, shall be printed, lithographed or
engraved on steel engraved borders or may be produced in any other manner, all
as determined by the officers executing such Securities and Coupons, if any, as
evidenced by their execution of such Securities and Coupons, if
any.

     

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

     

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

     

    

    
       

      
        	 	 	 ____________________________
	 	 	 as
      Trustee
	 	 	 
	 	 	 By:
      _________________________
	 	 	
                 Authorized
      Officer”

              

      

    

     

    If at any
time there shall be an Authenticating Agent appointed with respect to any series
of Securities, then the Trustee’s Certificate of Authentication to be borne by
the Securities of each such series shall be substantially as
follows:

     

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

     

    
      
         

        
          	 	 	 ____________________________
	 	 	 as
      Authenticating Agent

        

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

         

        
          	 	 	 
	 	 	 By:
      _________________________
	 	 	
                   Authorized
      Officer”

                

        

         

      

    

    Section
2.03.  Amount Unlimited; Issuable
in Series.  The aggregate principal amount of Securities which
may be authenticated and delivered under this Indenture is
unlimited.

     

    The
Securities may be issued in one or more series and the Securities of each such
series shall rank equally and pari passu with the Securities of each other
series, but all Securities issued hereunder shall be subordinate and junior in
right of payment, to the extent and in the manner set forth in Article 13, to
all Senior Indebtedness of the Issuer.  There shall be established in
or pursuant to one or more Board Resolutions (and, to the extent established
pursuant to rather than set forth in a Board Resolution, in an Officer’s
Certificate detailing such establishment) or established in one or more
indentures supplemental hereto, prior to the initial issuance of Securities of
any series,

     

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

     

    (b)           any
limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 2.08,
2.09, 2.11, 8.05 or 12.03);

     

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

     

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

     

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

     

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

     

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

     

    (h)           the
obligation, if any, of the Issuer to redeem, purchase or repay Securities of the
series pursuant to any mandatory redemption, sinking fund or analogous
provisions or at the option of a Holder thereof and the price or prices at which
and the period or periods within 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    which and
any terms and conditions upon which Securities of the series shall be redeemed,
purchased or repaid, in whole or in part, pursuant to such
obligation;

     

    (i)           if
other than denominations of $1,000 and any integral multiple thereof in the case
of Registered Securities, or $1,000 and $5,000 in the case of Unregistered
Securities, the denominations in which Securities of the series shall be
issuable;

     

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

     

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

     

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

     

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

     

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

     

    (o)           whether
the Securities of the series will be issuable as Registered Securities (and if
so, whether such Securities will be issuable as Registered Global Securities) or
Unregistered Securities (with or without Coupons), or any combination of the
foregoing, any restrictions applicable to the offer, sale, transfer, exchange or
delivery of Unregistered Securities or Registered Securities or the payment of
interest thereon and, if other than as provided in Section 2.08, the terms upon
which Unregistered Securities of any series may be exchanged for Registered
Securities of such series and vice versa;

     

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

     

    (q)           if
the Securities of such series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such series)
only upon receipt of certain certificates or other documents or satisfaction of
other conditions, the form and terms of such certificates, documents or
conditions;

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

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

     

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

     

    (t)           any
modifications to the definition of Senior Indebtedness, as contemplated by
clause (ii) thereof; and

     

    (u)           any
other terms of the series.

     

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

     

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

     

    Section
2.04.  Authentication and Delivery
of Securities.  The Issuer may deliver Securities of any series
having attached thereto appropriate Coupons, if any, executed by the Issuer to
the Trustee for authentication together with the applicable documents referred
to below in this Section, and the Trustee shall thereupon authenticate and
deliver such Securities to or upon the order of the Issuer (contained in the
Issuer Order referred to below in this Section) or pursuant to such procedures
acceptable to the Trustee and to such recipients as may be specified from time
to time by an Issuer Order.  The maturity date, original issue date,
interest rate and any other terms of the Securities of such series and Coupons,
if any, appertaining thereto (including Redemption Notice Periods) shall be
determined by or pursuant to such Issuer Order and procedures.  If
provided for in such procedures, such Issuer Order may authorize authentication
and delivery pursuant to oral instructions from the Issuer or its duly
authorized agent, which instructions shall be promptly confirmed in
writing.  In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such Securities,
the Trustee shall be entitled to receive (in the case of subparagraphs (b), (c)
and (d) below only at or before the time of the first request of the Issuer to
the Trustee to authenticate Securities of such series) and (subject to Section
6.01) shall be fully protected in relying upon, unless and until such documents
have been superceded or revoked:

     

    (a)           an
Issuer Order requesting such authentication and setting forth delivery
instructions if the Securities and Coupons, if any, are not to be delivered to
the Issuer, provided that, with respect to Securities of a series subject to a
Periodic Offering, (i) such Issuer Order may be delivered by the Issuer to the
Trustee prior to the delivery to the Trustee of such Securities for
authentication and delivery, (ii) the Trustee shall authenticate and deliver

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    Securities
of such series for original issue from time to time, in an aggregate principal
amount not exceeding the aggregate principal amount established for such series,
pursuant to an Issuer Order or pursuant to procedures acceptable to the Trustee
as may be specified from time to time by an Issuer Order, (iii) the maturity
date or dates, original issue date or dates, interest rate or rates and any
other terms of Securities of such series (including Redemption Notice Periods)
shall be determined by an Issuer Order or pursuant to such procedures and (iv)
if provided for in such procedures, such Issuer Order may authorize
authentication and delivery pursuant to oral or electronic instructions from the
Issuer or its duly authorized agent or agents, which oral instructions shall be
promptly confirmed in writing;

     

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

     

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

     

    (d)           at
the option of the Issuer, either an Opinion of Counsel, or a letter addressed to
the Trustee permitting it to rely on an Opinion of Counsel, substantially to the
effect that:

     

    (i)         the
forms of the Securities and Coupons, if any, have been duly authorized and
established in conformity with the provisions of this Indenture;

     

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

     

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

     

    In
rendering such opinions, such counsel may qualify any opinions as to
enforceability by stating that such enforceability may be limited by bankruptcy,
insolvency, reorganization, liquidation, moratorium and other similar laws
affecting the rights and remedies of creditors and is subject to general
principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law) and to such other qualifications as such
counsel shall 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    conclude
do not materially affect the rights of the holders of such Securities and any
Coupons.  Such counsel may rely, as to all matters governed by the
laws of jurisdictions other than the State of New York and the federal law of
the United States, upon opinions of other counsel (copies of which shall be
delivered to the Trustee), who shall be counsel reasonably satisfactory to the
Trustee, in which case the opinion shall state that such counsel believes he and
the Trustee are entitled so to rely.  Such counsel may also state
that, insofar as such opinion involves factual matters, he has relied, to the
extent he deems proper, upon certificates of officers of the Issuer and its
subsidiaries and certificates of public officials.

     

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

     

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

     

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

     

    Section
2.05.  Execution of
Securities.  The Securities and, if applicable, each Coupon
appertaining thereto shall be signed on behalf of the Issuer by any one of the
following: the Chairman of the Board, the Chief Executive
Officer,  the Chief Financial Officer, the President, the Chief
Operating Officer, the General Counsel, any Vice President, the Treasurer, an
Assistant Treasurer, the Secretary, an Assistant Secretary or any other person
authorized by the Board of Directors to execute Securities or, if applicable,
Coupons, which Securities or Coupons may, but need not, be
attested.  Such signatures may be the manual or facsimile signatures
of the present or any future such officers.  Minor errors or defects
in any such reproduction of any such signature shall not affect the validity or
enforceability of any Security that has been duly authenticated and delivered by
the Trustee.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    In case
any officer of the Issuer who shall have signed any of the Securities or
Coupons, if any, shall cease to be such officer before the Security or Coupon so
signed (or the Security to which the Coupon so signed appertains) shall be
authenticated and delivered by the Trustee or disposed of by the Issuer, such
Security or Coupon nevertheless may be authenticated and delivered or disposed
of as though the person who signed such Security or Coupon had not ceased to be
such officer of the Issuer; and any Security or Coupon may be signed on behalf
of the Issuer by such persons as, at the actual date of the execution of such
Security or Coupon, shall be the proper officers of the Issuer, although at the
date of the execution and delivery of this Indenture any such person was not
such an officer.

     

    Section
2.06.  Certificate of
Authentication.  Only such Securities as shall bear thereon a
certificate of authentication substantially in the form hereinbefore recited,
executed by the Trustee by the manual signature of one of its authorized
officers, shall be entitled to the benefits of this Indenture or be valid or
obligatory for any purpose.  No Coupon shall be entitled to the
benefits of this Indenture or shall be valid and obligatory for any purpose
until the certificate of authentication on the Security to which such Coupon
appertains shall have been duly executed by the Trustee.  The
execution of such certificate by the Trustee upon any Security executed by the
Issuer shall be conclusive evidence that the Security so authenticated has been
duly authenticated and delivered hereunder and that the Holder is entitled to
the benefits of this Indenture.

     

    Section
2.07.  Denomination and Date of
Securities; Payments of Interest.  The Securities of each
series shall be issuable as Registered Securities or Unregistered Securities in
denominations established as contemplated by Section 2.03 or, with respect to
the Registered Securities of any series, if not so established, in denominations
of $1,000 and any integral multiple thereof.  If denominations of
Unregistered Securities of any series are not so established, such Securities
shall be issuable in denominations of $1,000 and $5,000.  The
Securities of each series shall be numbered, lettered or otherwise distinguished
in such manner or in accordance with such plan as the officers of the Issuer
executing the same may determine with the approval of the Trustee, as evidenced
by the execution and authentication thereof.

     

    Each
Registered Security shall be dated the date of its
authentication.   Each Unregistered Security shall be dated as
provided in the resolution or resolutions of the Board of Directors of the
Issuer referred to in Section 2.03.  The Securities of each series
shall bear interest, if any, from the date, and such interest shall be payable
on the dates, established as contemplated by Section 2.03.

     

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

     

    
      
        
        

      

      
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    Issuer to
the Holders of Registered Securities not less than 15 days preceding such
subsequent record date.  The term “record date” as used with respect
to any interest payment date (except a date for payment of defaulted interest)
for the Securities of any series shall mean the date specified as such in the
terms of the Registered Securities of such series established as contemplated by
Section 2.03, or, if no such date is so established, if such interest payment
date is the first day of a calendar month, the fifteenth day of the next
preceding calendar month or, if such interest payment date is the fifteenth day
of a calendar month, the first day of such calendar month, whether or not such
record date is a Business Day.

     

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

     

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

     

    Unregistered
Securities (except for any temporary global Unregistered Securities) and Coupons
(except for Coupons attached to any temporary global Unregistered Securities)
shall be transferable by delivery.

     

    At the
option of the Holder thereof, Registered Securities of any series (other than a
Registered Global Security, except as set forth below) may be exchanged for a
Registered Security or Registered Securities of such series having authorized
denominations and an equal aggregate principal amount, upon surrender of such
Registered Securities to be exchanged at the agency of the Issuer that shall be
maintained for such purpose in accordance with Section 3.02 and upon payment, if
the Issuer shall so require, of the charges hereinafter provided.  If
the Securities of any series are issued in both registered and unregistered
form, except as otherwise specified pursuant to Section 2.03, at the option of
the Holder thereof, Unregistered Securities of any series may be exchanged for
Registered Securities of such series having authorized denominations and an
equal aggregate principal amount, upon surrender of such Unregistered Securities
to be exchanged at the agency of the Issuer that shall be maintained for such
purpose in accordance with Section 3.02, with, in the case of Unregistered
Securities that have Coupons attached, all unmatured Coupons and all matured
Coupons in default thereto appertaining, and upon payment, if the Issuer shall
so require, of the charges hereinafter provided.  At the option of the
Holder thereof, if Unregistered Securities of any series, maturity date,
interest rate and original issue date are issued in more than one authorized
denomination, except as otherwise specified pursuant to Section 2.03, such
Unregistered Securities may be exchanged for Unregistered Securities of such
series having authorized denominations and an equal aggregate 

     

    
      
        
        

      

      
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    principal
amount, upon surrender of such Unregistered Securities to be exchanged at the
agency of the Issuer that shall be maintained for such purpose in accordance
with Section 3.02 or as specified pursuant to Section 2.03, with, in the case of
Unregistered Securities that have Coupons attached, all unmatured Coupons and
all matured Coupons in default thereto appertaining, and upon payment, if the
Issuer shall so require, of the charges hereinafter provided.  Unless
otherwise specified pursuant to Section 2.03, Registered Securities of any
series may not be exchanged for Unregistered Securities of such
series.  Whenever any Securities are so surrendered for exchange, the
Issuer shall execute, and the Trustee shall authenticate and deliver, the
Securities which the Holder making the exchange is entitled to
receive.  All Securities and Coupons surrendered upon any exchange or
transfer provided for in this Indenture shall be promptly cancelled and disposed
of by the Trustee and the Trustee will deliver a certificate of disposition
thereof to the Issuer.

     

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

     

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

     

    The
Issuer shall not be required to exchange or register a transfer of (a) any
Securities of any series for a period of 15 days next preceding the first
mailing of notice of redemption of Securities of such series to be redeemed or
(b) any Securities selected, called or being called for redemption, in whole or
in part, except, in the case of any Security to be redeemed in part, the portion
thereof not so to be redeemed or (c) any Securities if the Holder thereof has
exercised any right to require the Issuer to repurchase such Securities, in
whole or in part, except, in the case of any Security to be repurchased in part,
the portion thereof not so to be repurchased.

     

    Notwithstanding
any other provision of this Section 2.08, unless and until it is exchanged in
whole or in part for Securities in definitive registered form, a Registered
Global Security representing all or a portion of the Securities of a series may
not be transferred except as a whole by the Depositary for such series to a
nominee of such Depositary or by a nominee of such Depositary to such Depositary
or another nominee of such Depositary or by such Depositary or any such nominee
to a successor Depositary for such series or a nominee of such successor
Depositary.

     

    If at any
time the Depositary for any Registered Securities of a series represented by one
or more Registered Global Securities notifies the Issuer that it is unwilling or
unable to continue as Depositary for such Registered Securities or if at any
time the Depositary for such Registered Securities shall no longer be eligible
under Section 2.04, the Issuer shall appoint a successor Depositary eligible
under Section 2.04 with respect to such Registered Securities.  If a
successor Depositary eligible under Section 2.04 for such Registered Securities
is not appointed by the Issuer within 90 days after the Issuer receives such
notice or becomes aware of such ineligibility, the Issuer’s election pursuant to
Section 2.03 that such Registered Securities be represented by one or more
Registered Global Securities shall no longer be effective and the Issuer will
execute, 

     

    
      
        
        

      

      
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    and the
Trustee, upon receipt of an Officer’s Certificate for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver,
Securities of such series in definitive registered form without coupons, in any
authorized denominations, in an aggregate principal amount equal to the
principal amount of the Registered Global Security or Securities representing
such Registered Securities in exchange for such Registered Global Security or
Securities.

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    Notwithstanding
anything herein or in the terms of any series of Securities to the contrary,
none of the Issuer, the Trustee or any agent of the Issuer or the Trustee (any
of which, other than the Issuer, shall rely on an Officer’s Certificate and an
Opinion of Counsel) shall be required to exchange any Unregistered Security for
a Registered Security if such exchange would result in adverse Federal income
tax consequences to the Issuer (such as, for example, the inability of the
Issuer to deduct from its income, as computed for Federal income tax purposes,
the interest payable on the Unregistered Securities) under then applicable
United States Federal income tax laws.

     

    Section
2.09.  Mutilated, Defaced,
Destroyed, Lost and Stolen Securities.  In case any temporary
or definitive Security or any Coupon appertaining to any Security shall become
mutilated, defaced or be destroyed, lost or stolen, the Issuer in its discretion
may execute, and upon the written request of any officer of the Issuer, the
Trustee shall authenticate and deliver a new Security of the same series,
maturity date, interest rate and original issue date, bearing a number or other
distinguishing symbol not contemporaneously outstanding, in exchange and
substitution for the mutilated or defaced Security, or in lieu of and in
substitution for the Security so destroyed, lost or stolen with Coupons
corresponding to the Coupons appertaining to the Securities so mutilated,
defaced, destroyed, lost or stolen, or in exchange or substitution for the
Security to which such mutilated, defaced, destroyed, lost or stolen Coupon
appertained, with Coupons appertaining thereto corresponding to the Coupons so
mutilated, defaced, destroyed, lost or stolen.   In every case
the applicant for a substitute Security or Coupon shall furnish to the Issuer
and to the Trustee and any agent of the Issuer or the Trustee such security or
indemnity as may be required by them to indemnify and defend and to save each of
them harmless and, in every case of destruction, loss or theft, evidence to
their satisfaction of the destruction, loss or theft of such Security or Coupon
and of the ownership thereof and in the case of mutilation or defacement shall
surrender the Security and related Coupons to the Trustee or such
agent.

     

    Upon the
issuance of any substitute Security or Coupon, the Issuer may require the
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Trustee or its agent) connected therewith.  In
case any Security or Coupon which has matured or is about to mature or has been
called for redemption in full shall become mutilated or defaced or be destroyed,
lost or stolen, the Issuer may instead of issuing a substitute Security, pay or
authorize the payment of the same or the relevant Coupon (without surrender
thereof except in the case of a mutilated or defaced Security or Coupon), if the
applicant for such payment shall furnish to the Issuer and to the Trustee and
any agent of the Issuer or the Trustee such security or indemnity as any of them
may require to save each of them harmless, and, in every case of destruction,
loss or theft, the applicant shall also furnish to the Issuer and the Trustee
and any agent of the Issuer or the Trustee evidence to their satisfaction of the
destruction, loss or theft of such Security or Coupon and of the ownership
thereof.

     

    Every
substitute Security or Coupon of any series issued pursuant to the provisions of
this Section by virtue of the fact that any such Security or Coupon is
destroyed, lost or stolen shall constitute an additional contractual obligation
of the Issuer, whether or not the destroyed, lost or stolen Security or Coupon
shall be at any time enforceable by anyone and shall be entitled to all the
benefits of (but shall be subject to all the limitations of rights set forth in)
this Indenture equally and proportionately with any and all other Securities or
Coupons of such series duly 

     

    
      
        
        

      

      
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    authenticated
and delivered hereunder.  All Securities and Coupons shall be held and
owned upon the express condition that, to the extent permitted by law, the
foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, defaced or destroyed, lost or stolen Securities and Coupons and shall
preclude any and all other rights or remedies notwithstanding any law or statute
existing or hereafter enacted to the contrary with respect to the replacement or
payment of negotiable instruments or other securities without their
surrender.

     

    Section
2.10.  Cancellation of Securities;
Disposition Thereof.  All Securities and Coupons surrendered
for payment, redemption, registration of transfer or exchange, or for credit
against any payment in respect of a sinking or analogous fund, if surrendered to
the Issuer or any agent of the Issuer or the Trustee or any agent of the
Trustee, shall be delivered to the Trustee or its agent for cancellation or, if
surrendered to the Trustee, shall be cancelled by it; and no Securities or
Coupons shall be issued in lieu thereof except as expressly permitted by any of
the provisions of this Indenture.  The Trustee or its agent shall
dispose of cancelled Securities and Coupons held by it and deliver a certificate
of disposition to the Issuer.  If the Issuer or its agent shall
acquire any of the Securities or Coupons, such acquisition shall not operate as
a redemption or satisfaction of the indebtedness represented by such Securities
or Coupons unless and until the same are delivered to the Trustee or its agent
for cancellation.

     

    Section
2.11.  Temporary
Securities.  Pending the preparation of definitive Securities
for any series, the Issuer may execute and the Trustee shall authenticate and
deliver temporary Securities for such series (printed, lithographed, typewritten
or otherwise reproduced, in each case in form satisfactory to the
Trustee).  Temporary Securities of any series shall be issuable as
Registered Securities without coupons, or as Unregistered Securities with or
without coupons attached thereto, of any authorized denomination, and
substantially in the form of the definitive Securities of such series but with
such omissions, insertions and variations as may be appropriate for temporary
Securities, all as may be determined by the Issuer with the concurrence of the
Trustee as evidenced by the execution and authentication
thereof.  Temporary Securities may contain such references to any
provisions of this Indenture as may be appropriate.  Every temporary
Security shall be executed by the Issuer and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities.  Without unreasonable delay the
Issuer shall execute and shall furnish definitive Securities of such series and
thereupon temporary Registered Securities of such series may be surrendered in
exchange therefor without charge at each office or agency to be maintained by
the Issuer for that purpose pursuant to Section 3.02 and, in the case of
Unregistered Securities, at any agency maintained by the Issuer for such purpose
as specified pursuant to Section 2.03, and the Trustee shall authenticate and
deliver in exchange for such temporary Securities of such series an equal
aggregate principal amount of definitive Securities of the same series having
authorized denominations and, in the case of Unregistered Securities, having
attached thereto any appropriate Coupons.  Until so exchanged, the
temporary Securities of any series shall be entitled to the same benefits under
this Indenture as definitive Securities of such series, unless otherwise
established pursuant to Section 2.03.  The provisions of this Section
are subject to any restrictions or limitations on the issue and delivery of
temporary Unregistered Securities of any series that may be established pursuant
to Section 2.03 (including any provision that Unregistered Securities of such
series initially be issued in the form of a single global Unregistered Security
to be delivered to a depositary or agency located outside the United States

     

    
      
        
        

      

      
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    and the
procedures pursuant to which definitive or global Unregistered Securities of
such series would be issued in exchange for such temporary global Unregistered
Security).

     

    ARTICLE
3

     

    COVENANTS
OF THE ISSUER

     

    Section
3.01.  Payment of Principal and
Interest.  The Issuer covenants and agrees for the benefit of
each series of Securities that it will duly and punctually pay or cause to be
paid the principal of, and interest on, each of the Securities of such series
(together with any additional amounts payable pursuant to the terms of such
Securities) at the place or places, at the respective times and in the manner
provided in such Securities and in the Coupons, if any, appertaining thereto and
in this Indenture.  The interest on Securities with Coupons attached
(together with any additional amounts payable pursuant to the terms of such
Securities) shall be payable only upon presentation and surrender of the several
Coupons for such interest installments as are evidenced thereby as they
severally mature.  If any temporary Unregistered Security provides
that interest thereon may be paid while such Security is in temporary form, the
interest on any such temporary Unregistered Security (together with any
additional amounts payable pursuant to the terms of such Security) shall be
paid, as to the installments of interest evidenced by Coupons attached thereto,
if any, only upon presentation and surrender thereof, and, as to the other
installments of interest, if any, only upon presentation of such Securities for
notation thereon of the payment of such interest, in each case subject to any
restrictions that may be established pursuant to Section
2.03.   The interest on Registered Securities (together with any
additional amounts payable pursuant to the terms of such Securities) shall be
payable only to or upon the written order of the Holders thereof and, at the
option of the Issuer, may be paid by wire transfer or by mailing checks for such
interest payable to or upon the written order of such Holders at their last
addresses as they appear on the registry books of the Issuer.

     

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

     

    The
Issuer initially appoints the Corporate Trust Office of the Trustee in the
Borough of Manhattan, The City of New York, as its agency for the foregoing
purposes.  The Issuer may subsequently appoint a different office or
agency of the Issuer in the Borough of Manhattan, The City of New
York.  The Issuer further initially appoints the Trustee at said
Corporate Trust Office as Security registrar for each series of
Securities.  The Issuer will have the right to remove and replace from
time to time the Security registrar for any series of Securities; provided that
no such removal or replacement will be effective until a successor Security
registrar with respect to such series of Securities has been appointed by the
Issuer and has accepted such appointment.

     

    The
Issuer will maintain one or more offices or agencies in a city or cities located
outside the United States (including any city in which such an agency is
required to be maintained under 

     

    
      
        
        

      

      
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    the rules
of any stock exchange on which the Securities of such series are listed) where
the Unregistered Securities, if any, of each series and Coupons, if any,
appertaining thereto may be presented for payment.  No payment on any
Unregistered Security or Coupon will be made upon presentation of such
Unregistered Security or Coupon at an agency of the Issuer within the United
States nor will any payment be made by transfer to an account in, or by mail to
an address in, the United States unless pursuant to applicable United States
laws and regulations then in effect such payment can be made without adverse tax
consequences to the Issuer.  Notwithstanding the foregoing, payments
in Dollars of Unregistered Securities of any series and Coupons appertaining
thereto which are payable in Dollars may be made at an agency of the Issuer
maintained in the Borough of Manhattan, The City of New York if such payment in
Dollars at each agency maintained by the Issuer outside the United States for
payment on such Unregistered Securities is illegal or effectively precluded by
exchange controls or other similar restrictions.

     

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

     

    The
Issuer will give to the Trustee written notice of the location of each such
office or agency and of any change of location thereof.  In case the
Issuer shall fail to maintain any agency required by this Section to be located
in the Borough of Manhattan, The City of New York, or shall fail to give such
notice of the location or of any change in the location of any of the above
agencies, presentations and demands may be made and notices may be served at the
Corporate Trust Office of the Trustee.

     

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

     

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

     

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

     

    (a)           that
it will hold all sums received by it as such agent for the payment of the
principal of or interest on the Securities of such series (whether such sums
have been paid to 

     

    
      
        
        

      

      
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    it by the
Issuer or by any other obligor on the Securities of such series) in trust for
the benefit of the Holders of the Securities of such series, or Coupons
appertaining thereto, if any, or of the Trustee,

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    ARTICLE
4

     

    SECURITYHOLDERS
LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE

     

    Section
4.01.  Issuer to Furnish Trustee
Information as to Names and Addresses of Securityholders.  If
and so long as the Trustee shall not be the Security registrar for the
Securities of any series, the Issuer and any other obligor on the Securities
will furnish or cause to be furnished to the Trustee a list in such form as the
Trustee may reasonably require of the names and addresses of the Holders of the
Registered Securities of such series pursuant to Section 312 of the Trust
Indenture Act of 1939 (a) semi-annually not more than 15 days after each record
date for the payment of interest on such Registered Securities, as hereinabove
specified, as of such record date and on dates to be determined pursuant to
Section 2.03 for non-interest bearing Registered Securities in each year and (b)
at such other times as the Trustee may request in writing, within 30 days after
receipt by the Issuer of any such request as of a date not more than 15 days
prior to the time such information is furnished.

     

    Section
4.02.  Preservation and Disclosure
of Securityholders Lists.  This Section intentionally left
blank.

     

    Section
4.03.  Reports by the
Issuer.  The Issuer covenants to file with the Trustee, within
15 days after the Issuer is required to file the same with the Commission,
copies of the annual reports and of the information, documents, and other
reports that the Issuer may be required to file with the Commission pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 or pursuant
to Section 314 of the Trust Indenture Act of 1939.

     

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

     

    ARTICLE
5

     

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

     

    Section
5.01.  Event of Default Defined;
Acceleration of Maturity; Waiver of Event of Default.  “Event
of Default” with respect to Securities of any series wherever used herein, means
each one of the following events which shall have occurred and be continuing
(whatever the reason for such Event of Default and whether it shall be voluntary
or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body) unless it is specifically modified in the
supplemental indenture, if any, under which such series of Securities is
issued:

     

    (a)           a
court having jurisdiction in the premises shall enter a decree or order for
relief in respect of the Issuer in an involuntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, 

     

    
      
        
        

      

      
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    custodian,
trustee, sequestrator (or similar official) of the Issuer or for any substantial
part of its property or ordering the winding up or liquidation of its affairs,
and such decree or order shall remain unstayed and in effect for a period of 60
consecutive days; or

     

    (b)           the
Issuer shall commence a voluntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or consent to the
entry of an order for relief in an involuntary case under any such law, or
consent to the appointment or taking possession by a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of the Issuer
or for any substantial part of its property, or make any general assignment for
the benefit of creditors; or

     

    (c)           any
other Event of Default provided in the supplemental indenture under which such
series of Securities is issued or in the form of Security for such
series.

     

    If an
Event of Default described in clause (c) (if the Event of Default under clause
(c) is with respect to less than all series of Securities then Outstanding)
occurs and is continuing, then, and in each and every such case, except for any
series of Securities the principal of which shall have already become due and
payable, either the Trustee or the Holders of not less than 25% in aggregate
principal amount of the Securities of each such affected series then Outstanding
hereunder (voting as a single class) by notice in writing to the Issuer (and to
the Trustee if given by Securityholders), may declare the entire principal (or,
if any of the Securities of any such affected series are Original Issue Discount
Securities, such portion of the principal amount as may be specified in the
terms of such Securities) of all Securities of all such affected series, and the
interest accrued thereon, if any, to be due and payable immediately, and upon
any such declaration, the same shall become immediately due and
payable.  If an Event of Default described in clause (a), (b) or (c)
(if the Event of Default under clause (c) is with respect to all series of
Securities then Outstanding) occurs and is continuing, then and in each and
every such case, unless the principal of all the Securities shall have already
become due and payable, either the Trustee or the Holders of not less than 25%
in aggregate principal amount of all the Securities then Outstanding hereunder
(treated as one class), by notice in writing to the Issuer (and to the Trustee
if given by Secruityholders), may declare the entire principal (or, if any
Securities are Original Issue Discount Securities, such portion of the principal
as may be specified in the terms thereof) of all the Securities then
Outstanding, and interest accrued thereon, if any, to be due and payable
immediately, and upon any such declaration the same shall become immediately due
and payable.

     

    The
foregoing provisions, however, are subject to the condition that if, at any time
after the principal (or, if the Securities are Original Issue Discount
Securities, such portion of the principal as may be specified in the terms
thereof) of the Securities of any series (or of all the Securities, as the case
may be) shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as
hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a
sum sufficient to pay all matured installments of interest upon all the
Securities of each such series (or of all the Securities, as the case may be)
and the principal of any and all Securities of each such series (or of all the
Securities, as the case may be) which shall have become due otherwise than by
acceleration (with interest upon such principal and, to the extent that payment
of such interest is enforceable under applicable law, on overdue installments of
interest, at the same rate as the rate 

     

    
      
        
        

      

      
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    of
interest or Yield to Maturity (in the case of Original Issue Discount
Securities) specified in the Securities of such series (or at the respective
rates of interest or Yields to Maturity of all the Securities, as the case may
be) to the date of such payment or deposit) and such amount as shall be
sufficient to cover reasonable compensation to the Trustee and each predecessor
Trustee, its agents, attorneys and counsel, and all other expenses and
liabilities incurred, and all advances made, by the Trustee and each predecessor
Trustee except as a result of negligence or bad faith, and if any and all
Defaults under the Indenture, other than the non-payment of the principal of
Securities which shall have become due by acceleration, shall have been cured,
waived or otherwise remedied as provided herein -- then and in every such case
the Holders of a majority in aggregate principal amount of all the Securities of
each such series or of all the Securities, in each case voting as a single
class, then Outstanding, by written notice to the Issuer and to the Trustee, may
waive all defaults with respect to each such series (or with respect to all the
Securities, as the case may be) and rescind and annul such declaration and its
consequences, but no such waiver or rescission and annulment shall extend to or
shall affect any subsequent Default or shall impair any right consequent
thereon.

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

    (c)           to
collect and receive any moneys or other property payable or deliverable on any
such claims, and to distribute all amounts received with respect to the claims
of the Securityholders and of the Trustee on their behalf; and any trustee,
receiver, or liquidator, custodian or other similar official is hereby
authorized by each of the Securityholders to make payments to the Trustee, and,
in the event that the Trustee shall consent to the making of payments directly
to the Securityholders, to pay to the Trustee such amounts as shall be
sufficient to cover reasonable compensation to the Trustee, each predecessor
Trustee and their 

     

    
      
        
        

      

      
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    respective
agents, attorneys and counsel, and all other expenses and liabilities incurred,
and all advances made, by the Trustee and each predecessor Trustee except as a
result of negligence or bad faith.

     

    Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or vote for or accept or adopt on behalf of any Securityholder any
plan of reorganization, arrangement, adjustment or composition affecting the
Securities of any series or the rights of any Holder thereof, or to authorize
the Trustee to vote in respect of the claim of any Securityholder in any such
proceeding except, as aforesaid, to vote for the election of a trustee in
bankruptcy or similar Person.

     

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

     

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

     

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

     

    FIRST:  To
the payment of costs and expenses applicable to such series in respect of which
moneys have been collected, including reasonable compensation to the Trustee and
each predecessor Trustee and their respective agents and attorneys and of all
expenses and liabilities incurred, and all advances made, by the Trustee and
each predecessor Trustee except as a result of negligence or bad
faith;

     

    SECOND:  In
case the principal of the Securities of such series in respect of which moneys
have been collected shall not have become and be then due and payable, to the
payment of interest on the Securities of such series in default in the order of
the maturity of the installments of such interest, with interest (to the extent
that such interest 

     

    
      
        
        

      

      
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    has been
collected by the Trustee) upon the overdue installments of interest at the same
rate as the rate of interest or Yield to Maturity (in the case of Original Issue
Discount Securities) specified in such Securities, such payments to be made
ratably to the Persons entitled thereto, without discrimination or
preference;

     

    THIRD:  In
case the principal of the Securities of such series in respect of which moneys
have been collected shall have become and shall be then due and payable, to the
payment of the whole amount then owing and unpaid upon all the Securities of
such series for principal and interest, with interest upon the overdue
principal, and (to the extent that such interest has been collected by the
Trustee) upon overdue installments of interest at the same rate as the rate of
interest or Yield to Maturity (in the case of Original Issue Discount
Securities) specified in the Securities of such series; and in case such moneys
shall be insufficient to pay in full the whole amount so due and unpaid upon the
Securities of such series, then to the payment of such principal and interest or
Yield to Maturity, without preference or priority of principal over interest or
Yield to Maturity, or of interest or Yield to Maturity over principal, or of any
installment of interest over any other installment of interest, or of any
Security of such series over any other Security of such series, ratably to the
aggregate of such principal and accrued and unpaid interest or Yield to
Maturity; and

     

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

     

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

     

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

     

    Section
5.06.  Limitations on Suits by
Securityholders; Default Defined.  No Holder of any Security of
any series or of any Coupon appertaining thereto shall have any right by virtue
or by availing of any provision of this Indenture to institute any action or
proceeding at law or in equity or in bankruptcy or otherwise upon or under or
with respect to this Indenture, or for the appointment of a trustee, receiver,
liquidator, custodian or other similar official or for any other remedy
hereunder, unless such Holder previously shall have given to the Trustee written
notice of default and of the continuance thereof, as hereinbefore provided, and
unless also the Holders of not less than 25% in aggregate principal amount of
the Securities of each affected series then Outstanding (treated as a single
class) shall have made written request upon the Trustee to 

     

    
      
        
        

      

      
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    institute
such action or proceedings in its own name as trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may require against the
costs, expenses and liabilities to be incurred therein or thereby and the
Trustee for 60 days after its receipt of such notice, request and offer of
indemnity shall have failed to institute any such action or proceeding and no
direction inconsistent with such written request shall have been given to the
Trustee pursuant to Section 5.09; it being understood and intended, and being
expressly covenanted by the taker and Holder of every Security or Coupon with
every other taker and Holder and the Trustee, that no one or more Holders of
Securities of any series or Coupons appertaining to such Securities shall have
any right in any manner whatever by virtue or by availing of any provision of
this Indenture to affect, disturb or prejudice the rights of any other such
Holder of Securities or Coupons appertaining to such Securities, or to obtain or
seek to obtain priority over or preference to any other such Holder or to
enforce any right under this Indenture, except in the manner herein provided and
for the equal, ratable and common benefit of all Holders of Securities of the
applicable series and Coupons appertaining to such Securities.  For
the protection and enforcement of the provisions of this Section, each and every
Securityholder and the Trustee shall be entitled to such relief as can be given
either at law or in equity.

     

    “Default”
with respect to Securities of any series wherever used herein, means each one of
the following events which shall have occurred and be continuing (whatever the
reason for such Default and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any
court or any order, rule or regulation of any administrative or governmental
body) unless it is specifically deleted or modified in the supplemental
indenture, if any, under which such series of Securities is issued:

     

    (a)           default
in the payment of any installment of interest upon any of the Securities of such
series as and when the same shall become due and payable, and continuance of
such default for a period of 30 days; or

     

    (b)           default
in the payment of all or any part of the principal on any of the Securities of
such series as and when the same shall become due and payable either at
maturity, upon any redemption, by declaration or otherwise; or

     

    (c)           failure
on the part of the Issuer duly to observe or perform any other of the covenants
or agreements on the part of the Issuer in the Securities of such series (other
than a covenant or warranty in respect of the Securities of such series a
default in the performance or breach of which is elsewhere in this Section or in
Section 5.01 specifically dealt with) or contained in this Indenture for a
period of 60 days after the date on which written notice specifying such
failure, stating that such notice is a “Notice of Default” hereunder and
demanding that the Issuer remedy the same, shall have been given by registered
or certified mail, return receipt requested, to the Issuer by the Trustee, or to
the Issuer and the Trustee by the holders of at least 25% in aggregate principal
amount of the Outstanding Securities of all series affected thereby;
or

     

    (d)           an
Event of Default with respect to such series specified in Section 5.01;
or

     

    
      
        
        

      

      
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    (e)           any
other Default provided in the supplemental indenture under which such series of
Securities is issued or in the form of Security for such series.

     

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

     

    Section
5.08.  Powers and Remedies
Cumulative; Delay or Omission Not Waiver of Default.  Except as
provided in Section 5.06, no right or remedy herein conferred upon or reserved
to the Trustee or to the Holders of Securities or Coupons is intended to be
exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or
otherwise.  The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

     

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

     

    Section
5.09.  Control by Holders of
Securities.  The Holders of a majority in aggregate principal
amount of the Securities of each series affected (with all such series voting as
a single class) at the time Outstanding shall have the right to direct the time,
method, and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred on the Trustee with respect
to the Securities of such series by this Indenture; provided that such direction
shall not be otherwise than in accordance with law and the provisions of this
Indenture and provided further that (subject to the provisions of Section 6.01)
the Trustee shall have the right to decline to follow any such direction if the
Trustee, being advised by counsel, shall determine that the action or proceeding
so directed may not lawfully be taken or if the Trustee in good faith by its
board of directors, the executive committee, or a trust committee of directors
or Responsible Officers of the Trustee shall determine that the action or
proceedings so directed would involve the Trustee in personal liability or if
the Trustee in good faith shall so determine that the actions or forbearances
specified in or pursuant to such direction would be unduly prejudicial to the
interests of Holders of the Securities of all series so affected not joining in
the giving of said direction, it being understood that (subject to Section 6.01)
the Trustee shall have no duty to ascertain whether or not such actions or
forbearances are unduly prejudicial to such Holders.

     

    
      
        
        

      

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

     

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

     

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

     

    Section
5.11.  Trustee to Give Notice of
Default, But May Withhold In Certain Circumstances.  The
Trustee shall, within ninety days after the occurrence of a default with respect
to the Securities of any series, give notice of all defaults with respect to
that series known to the Trustee (i) if any Unregistered Securities of a series
affected are then Outstanding, to the Holders thereof, (A) by mail to such
Holders who have filed their names and addresses with the Trustee within the two
years preceding the notice at such addresses as were so furnished to the Trustee
and (B) either through the customary notice provisions of the clearing system or
systems through which beneficial interests in such Unregistered Securities are
owned if such Unregistered Securities are held only in global form or by
publication at least once in an Authorized Newspaper in the Borough of
Manhattan, The City of New York, and at least once in an Authorized Newspaper in
London (and, if required by Section 3.06, at least once in an Authorized
Newspaper in Luxembourg), and (i) if any Registered Securities of a series
affected are then Outstanding, by mailing notice to the Holders of then
Outstanding Registered Securities of each series affected at their addresses as
they shall appear on the registry books, unless in each case such defaults shall
have been cured before the mailing or publication of such notice (the term
“defaults” for the purpose of this Section being hereby defined to mean any
event or condition which is, or with notice or lapse of time or both would
become, a Default or Event of Default); provided that, except in the case of
default in the payment of the principal of or interest on any of the Securities
of such series, or in the payment of any sinking fund installment on such
series, the Trustee shall be protected in withholding such notice if and so long
as the board of directors, the executive committee, or a trust committee of
directors or trustees and/or Responsible Officers of the Trustee in good faith
determines that the withholding of such notice is in the interests of the
Securityholders of such series.

     

    
      
        
        

      

      
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    Section
5.12.  Right of Court to Require
Filing of Undertaking to Pay Costs.  All parties to this
Indenture agree, and each Holder of any Security or Coupon by his acceptance
thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees,
against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Securityholder or group of
Securityholders of any series holding in the aggregate more than 10% in
aggregate principal amount of the Securities of such series, or, in the case of
any suit relating to or arising under clause (c) of Section 5.01 or clause (c)
or (e) of Section 5.06 (if the suit relates to Securities of more than one but
less than all series), 10% in aggregate principal amount of Securities then
Outstanding and affected thereby, or in the case of any suit relating to or
arising under clause (a) or (b) of Section 5.01, 10% in aggregate principal
amount of all Securities then Outstanding, or to any suit instituted by any
Securityholder for the enforcement of the payment of the principal of or
interest on any Security on or after the due date expressed in such Security or
any date fixed for redemption.

     

    ARTICLE
6

     

    CONCERNING
THE TRUSTEE

     

    Section
6.01.  Duties and Responsibilities
of the Trustee; During Default; Prior to Default.  With respect
to the Holders of any series of Securities issued hereunder, the Trustee, prior
to the occurrence of a Default with respect to the Securities of a particular
series and after the curing or waiving of all Defaults which may have occurred
with respect to such series, undertakes to perform such duties and only such
duties as are specifically set forth in this Indenture.  In case a
Default with respect to the Securities of a series has occurred (which has not
been cured or waived) the Trustee shall exercise with respect to such series of
Securities such of the rights and powers vested in it by this Indenture, and use
the same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own
affairs.

     

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

     

    (a)           prior
to the occurrence of a Default with respect to the Securities of any series and
after the curing or waiving of all such Defaults with respect to such series
which may have occurred:

     

    (i)           the
duties and obligations of the Trustee with respect to the Securities of any
series shall be determined solely by the express provisions of this Indenture,
and the Trustee shall not be liable except for the performance of such duties
and obligations as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee;
and

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    The
provisions of this Section 6.01 are in furtherance of and subject to Section 315
of the Trust Indenture Act of 1939.

     

    Section
6.02.  Certain Rights of the
Trustee.  In furtherance of and subject to the Trust Indenture
Act of 1939, and subject to Section 6.01:

     

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

     

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

     

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

     

    
      
        
        

      

      
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    (d)           the
Trustee shall be under no obligation to exercise any of the trusts or powers
vested in it by this Indenture at the request, order or direction of any of the
Securityholders pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which might be incurred
therein or thereby;

     

    (e)           the
Trustee shall not be liable for any action taken or omitted by it in good faith
and believed by it to be authorized or within the discretion, rights or powers
conferred upon it by this Indenture;

     

    (f)           prior
to the occurrence of a Default hereunder and after the curing or waiving of all
Defaults, the Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, appraisal, bond,
debenture, note, coupon, security, or other paper or document unless requested
in writing so to do by the Holders of not less than a majority in aggregate
principal amount of the Securities of all series affected then Outstanding;
provided that, if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require reasonable indemnity against such expenses or liabilities as
a condition to proceeding; the reasonable expenses of every such investigation
shall be paid by the Issuer or, if paid by the Trustee or any predecessor
Trustee, shall be repaid by the Issuer upon demand; and

     

    (g)           the
Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys not regularly in
its employ and the Trustee shall not be responsible for any misconduct or
negligence on the part of any such agent or attorney appointed with due care by
it hereunder.

     

    Section
6.03.  Trustee Not Responsible for
Recitals, Disposition of Securities or Application of Proceeds
Thereof.  The recitals contained herein and in the Securities,
except the Trustee’s certificates of authentication, shall be taken as the
statements of the Issuer, and the Trustee assumes no responsibility for the
correctness of the same.  The Trustee makes no representation as to
the validity or sufficiency of this Indenture or of the Securities or
Coupons.  The Trustee shall not be accountable for the use or
application by the Issuer of any of the Securities or of the proceeds
thereof.

     

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

     

    Section
6.05.  Moneys Held by
Trustee.  Subject to the provisions of Section 10.04 hereof,
all moneys received by the Trustee shall, until used or applied as herein
provided, be held in trust for the purposes for which they were received, but
need not be segregated from other funds except to the extent required by
mandatory provisions of law.  Neither the Trustee nor any

     

    
      
        
        

      

      
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    agent of
the Issuer or the Trustee shall be under any liability for interest on any
moneys received by it hereunder.

     

    Section
6.06.  Compensation and
Indemnification of Trustee and Its Prior Claim.  The Issuer
covenants and agrees to pay to the Trustee from time to time, and the Trustee
shall be entitled to, reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust)
and the Issuer covenants and agrees to pay or reimburse the Trustee and each
predecessor Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by or on behalf of it in accordance with any of
the provisions of this Indenture (including the reasonable compensation and the
expenses and disbursements of its counsel and of all agents and other Persons
not regularly in its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith.

     

    The
Issuer also covenants to indemnify the Trustee and each predecessor Trustee for,
and to hold it harmless against, any loss, liability or expense incurred without
negligence or bad faith on its part, arising out of or in connection with the
acceptance or administration of this Indenture or the trusts hereunder and its
duties hereunder, including the costs and expenses of defending itself against
or investigating any claim of liability in the premises.  The
obligations of the Issuer under this Section to compensate and indemnify the
Trustee and each predecessor Trustee and to pay or reimburse the Trustee and
each predecessor Trustee for expenses, disbursements and advances shall
constitute additional indebtedness hereunder and shall survive the satisfaction
and discharge of this Indenture.  Such additional indebtedness shall
be a senior claim to that of the Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the benefit of
the Holders of particular Securities or Coupons, and the Securities are hereby
subordinated to such senior claim.

     

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

     

    Section
6.08.  Disqualification;
Conflicting Interests.  If the Trustee has or shall acquire a
conflicting interest within the meaning of the Trust Indenture Act, 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 Trust Indenture Act and this
Indenture. To the extent permitted by such Act, the Trustee shall not be deemed
to have a conflicting interest by virtue of being a trustee under this Indenture
with respect to Securities of more than one series.

     

    Section
6.09.  Persons Eligible for
Appointment as Trustee.  The Trustee for each series of
Securities hereunder shall at all times be a corporation organized and doing
business under the laws of the United States of America or of any State or the
District of Columbia having a combined capital and surplus of at least
$5,000,000, and which is authorized under such laws to 

     

    
      
        
        

      

      
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    exercise
corporate trust powers and is subject to supervision or examination by Federal,
State or District of Columbia authority.  Such corporation shall have
a place of business in the Borough of Manhattan, The City of New York if there
be such a corporation in such location willing to act upon reasonable and
customary terms and conditions.  If such corporation publishes reports
of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published.  In case at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Trustee
shall resign immediately in the manner and with the effect specified in Section
6.10.

     

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

     

    Section
6.10.  Resignation and Removal;
Appointment of Successor Trustee.  (a) The Trustee, or any
trustee or trustees hereafter appointed, may at any time resign with respect to
one or more or all series of Securities by giving written notice of resignation
to the Issuer (i) if any Unregistered Securities of a series affected are then
Outstanding, by giving notice of such resignation to the Holders thereof (A) by
mail to such Holders who have filed their names and addresses with the Trustee
within the two years preceding the notice at such addresses as were so furnished
to the Trustee and (B) either through the customary notice provisions of the
clearing system or systems through which beneficial interests in such
Unregistered Securities are owned if such Unregistered Securities are held only
in global form or by publication at least once in an Authorized Newspaper in the
Borough of Manhattan, The City of New York, and at least once in an Authorized
Newspaper in London (and, if required by Section 3.06, at least once in an
Authorized Newspaper in Luxembourg), and (ii) if any Registered Securities of a
series affected are then Outstanding, by mailing notice of such resignation to
the Holders of then Outstanding Registered Securities of each series affected at
their addresses as they shall appear on the registry books.  Upon
receiving such notice of resignation, the Issuer shall promptly appoint a
successor trustee or trustees with respect to the applicable series by written
instrument in duplicate, executed by authority of the Board of Directors, one
copy of which instrument shall be delivered to the resigning Trustee and one
copy to the successor trustee or trustees.  If no successor trustee
shall have been so appointed with respect to any series and have accepted
appointment within 30 days after the mailing of such notice of resignation, the
resigning trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee, or any Securityholder who has been a bona
fide Holder of a Security or Securities of the applicable series for at least
six months may, subject to the provisions of Section 5.12, on behalf of himself
and all others similarly situated, petition any such court for the appointment
of a successor trustee.  Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, appoint a successor
trustee.

     

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

     

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

     

    
      
        
        

      

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

     

    (iii)           the
Trustee shall become incapable of acting with respect to any series of
Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or
liquidator of the Trustee or of its property shall be appointed, or any public
officer shall take charge or control of the Trustee or of its property or
affairs for the purpose of rehabilitation, conservation or
liquidation;

     

    then, in
any such case, the Issuer may remove the Trustee with respect to the applicable
series of Securities and appoint a successor trustee for such series by written
instrument, in duplicate, executed by order of the Board of Directors of the
Issuer, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee, or, subject to the provisions of
Section 315(e) of the Trust Indenture Act of 1939, any Securityholder who has
been a bona fide Holder of a Security or Securities of such series for at least
six months may on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor trustee with respect to such series.  Such
court may thereupon, after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee.

     

    (c)           The
Holders of a majority in aggregate principal amount of the Securities of each
series at the time outstanding may at any time remove the Trustee with respect
to Securities of such series and appoint a successor trustee with respect to the
Securities of such series by delivering to the Trustee so removed, to the
successor trustee so appointed and to the Issuer the evidence provided for in
Section 7.01 of the action in that regard taken by the
Securityholders.

     

    (d)           Any
resignation or removal of the Trustee with respect to any series and any
appointment of a successor trustee with respect to such series pursuant to any
of the provisions of this Section 6.10 shall become effective upon acceptance of
appointment by the successor trustee as provided in Section 6.11.

     

    Section
6.11.  Acceptance of Appointment by
Successor Trustee.  Any successor trustee appointed as provided
in Section 6.10 shall execute and deliver to the Issuer and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor trustee with respect to all or any
applicable series shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all rights, powers,
duties and obligations with respect to such series of its predecessor hereunder,
with like effect as if originally named as trustee for such series hereunder;
but, nevertheless, on the written request of the Issuer or of the successor
trustee, upon payment of its charges then unpaid, the trustee ceasing to act
shall, subject to Section 10.04, pay over to the successor trustee all moneys at
the time held by it hereunder and shall execute and deliver an instrument
transferring to such successor trustee all such rights, powers, duties and
obligations.  Upon request of any such successor trustee, the Issuer
shall execute any and all instruments in writing for more fully and certainly
vesting in and confirming to such successor trustee all such rights and
powers.  Any trustee ceasing to act shall, nevertheless, retain a
prior 

     

    
      
        
        

      

      
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    claim
upon all property or funds held or collected by such trustee to secure any
amounts then due it pursuant to the provisions of Section 6.06.

     

    If a
successor trustee is appointed with respect to the Securities of one or more
(but not all) series, the Issuer, the predecessor trustee and each successor
trustee with respect to the Securities of any applicable series shall execute
and deliver an indenture supplemental hereto which shall contain such provisions
as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the predecessor trustee with respect to the
Securities of any series as to which the predecessor trustee is not retiring
shall continue to be vested in the predecessor trustee, and shall add to or
change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust and that
each such Trustee shall be trustee of a trust or trusts under separate
indentures.

     

    No
successor trustee with respect to any series of Securities shall accept
appointment as provided in this Section 6.11 unless at the time of such
acceptance such successor trustee shall be qualified under Section 310(b) of the
Trust Indenture Act of 1939 and eligible under the provisions of Section
6.09.

     

    Upon
acceptance of appointment by any successor trustee as provided in this Section
6.11, the Issuer shall give notice thereof (i) if any Unregistered Securities of
a series affected are then Outstanding, to the Holders thereof, (A) by mail to
such Holders who have filed their names and addresses with the Trustee within
the two years preceding the notice at such addresses as were so furnished to the
Trustee and (B) either through the customary notice provisions of the clearing
system or systems through which beneficial interests in such Unregistered
Securities are owned if such Unregistered Securities are held only in global
form or by publication at least once in an Authorized Newspaper in the Borough
of Manhattan, The City of New York, and at least once in an Authorized Newspaper
in London (and, if required by Section 3.06, at least once in an Authorized
Newspaper in Luxembourg), and (ii) if any Registered Securities of a series
affected are then Outstanding, by mailing notice to the Holders of then
Outstanding Registered Securities of each series affected at their addresses as
they shall appear on the registry books.  If the acceptance of
appointment is substantially contemporaneous with the resignation, then the
notice called for by the preceding sentence may be combined with the notice
called for by Section 6.10.  If the Issuer fails to give such notice
within ten days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be given at the expense of the
Issuer.

     

    Section
6.12.  Merger, Conversion,
Consolidation or Succession to Business of Trustee.  Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such
corporation shall be qualified under Section 310(b) of the Trust Indenture Act
of 1939 and eligible under the provisions of Section 6.09, without the execution
or filing of any paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding.

     

    
      
        
        

      

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

     

    Section
6.13.  Appointment of
Authenticating Agent.  As long as any Securities of a series
remain Outstanding, the Trustee may, by an instrument in writing, appoint with
the approval of the Issuer an authenticating agent (the “Authenticating Agent”)
which shall be authorized to act on behalf of the Trustee to authenticate
Securities, including Securities issued upon exchange, registration of transfer,
partial redemption or pursuant to Section 2.09.  Securities of each
such series authenticated by such Authenticating Agent shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes as
if authenticated by the Trustee.  Whenever reference is made in this
Indenture to the authentication and delivery of Securities of any series by the
Trustee or to the Trustee’s Certificate of Authentication, such reference shall
be deemed to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent for such series and a Certificate of Authentication
executed on behalf of the Trustee by such Authenticating Agent.  Such
Authenticating Agent shall at all times be a corporation organized and doing
business under the laws of the United States of America or of any State,
authorized under such laws to exercise corporate trust powers, having a combined
capital and surplus of at least $5,000,000 (determined as provided in Section
6.09 with respect to the Trustee) and subject to supervision or examination by
Federal or State authority.

     

    Any
corporation into which any Authenticating Agent may be merged or converted, or
with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which any Authenticating Agent shall be a party,
or any corporation succeeding to the corporate agency business of any
Authenticating Agent, shall continue to be the Authenticating Agent with respect
to all series of Securities for which it served as Authenticating Agent without
the execution or filing of any paper or any further act on the part of the
Trustee or such Authenticating Agent.  Any Authenticating Agent may at
any time, and if it shall cease to be eligible shall, resign by giving written
notice of resignation to the Trustee and to the Issuer.

     

    Upon
receiving such a notice of resignation or upon such a termination, or in case at
any time any Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section 6.13 with respect to one or more series of
Securities, the Trustee shall upon receipt of an Issuer Order appoint a
successor Authenticating Agent and the Issuer shall provide notice of such
appointment to all Holders of Securities of such series in the manner and to the
extent provided in Section 11.04.  Any successor Authenticating Agent
upon acceptance of its appointment hereunder shall become vested with all
rights, powers, duties and responsibilities of its predecessor hereunder, with
like effect as if originally named as Authenticating Agent.  The
Issuer agrees to pay to the Authenticating Agent for such series from time to
time reasonable 

     

    
      
        
        

      

      
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    compensation.  The
Authenticating Agent for the Securities of any series shall have no
responsibility or liability for any action taken by it as such at the direction
of the Trustee.

     

    Sections
6.02, 6.03, 6.04, 6.06, 6.09 and 7.03 shall be applicable to any Authenticating
Agent.

     

    ARTICLE
7

     

    CONCERNING
THE SECURITYHOLDERS

     

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

     

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

     

    (a)           The
fact and date of the execution by any Holder of any instrument may be proved by
the certificate of any notary public or other officer of any jurisdiction
authorized to take acknowledgments of deeds or administer oaths that the person
executing such instruments acknowledged to him the execution thereof, or by an
affidavit of a witness to such execution sworn to before any such notary or
other such officer.  Where such execution is by or on behalf of any
legal entity other than an individual, such certificate or affidavit shall also
constitute sufficient proof of the authority of the person executing the same.
The fact of the holding by any Holder of an Unregistered Security of any series,
and the identifying number of such Security and the date of his holding the
same, may be proved by the production of such Security or by a certificate
executed by any trust company, bank, banker or recognized securities dealer
wherever situated satisfactory to the Trustee, if such certificate shall be
deemed by the Trustee to be satisfactory.  Each such certificate shall
be dated and shall state that on the date thereof a Security of such series
bearing a specified identifying number was deposited with or exhibited to such
trust company, bank, banker or recognized securities dealer by the Person named
in such certificate.  Any such certificate may be issued in respect of
one or more Unregistered Securities of one or more series specified
therein.  The holding by the Person named in any such certificate of
any Unregistered Securities of any series specified therein shall be presumed to
continue for a period of one year from the date of such certificate unless at
the time of any determination of such holding (i) another certificate bearing a
later date issued in respect of the same Securities shall be produced, or (ii)
the Security of such series specified in such certificate shall be produced by
some other Person, or (iii) the Security of such series specified in such
certificate shall have ceased to be Outstanding.  Subject to Sections
6.01 and 6.02, the fact and date of the 

     

    
      
        
        

      

      
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    execution
of any such instrument and the amount and numbers of Securities of any series
held by the Person so executing such instrument and the amount and numbers of
any Security or Securities for such series may also be proven in accordance with
such reasonable rules and regulations as may be prescribed by the Trustee for
such series or in any other manner which the Trustee for such series may deem
sufficient.

     

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

     

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

     

    Section
7.03.  Holders to Be Treated as
Owners.  The Issuer, the Trustee and any agent of the Issuer or
the Trustee may deem and treat the Person in whose name any Security shall be
registered upon the Security register for such series as the absolute owner of
such Security (whether or not such Security shall be overdue and notwithstanding
any notation of ownership or other writing thereon) for the purpose of receiving
payment of or on account of the principal of and, subject to the provisions of
this Indenture, interest on such Security and for all other purposes; and
neither the Issuer nor the Trustee nor any agent of the Issuer or the Trustee
shall be affected by any notice to the contrary.  The Issuer, the
Trustee and any agent of the Issuer or the Trustee may treat the Holder of any
Unregistered Security and the Holder of any Coupon as the absolute owner of such
Unregistered Security or Coupon (whether or not such Unregistered Security or
Coupon shall be overdue) for the purpose of receiving payment thereof or on
account thereof and for all other purposes and neither the Issuer, the Trustee,
nor any agent of the Issuer or the Trustee shall be affected by any notice to
the contrary.  All such payments so made to any such Person, or upon
his order, shall be valid, and, to the extent of the sum or sums so paid,
effectual to satisfy and discharge the liability for moneys payable upon any
such Unregistered Security or Coupon.

     

    Section
7.04.  Securities Owned by Issuer
Deemed not Outstanding.  In determining whether the Holders of
the requisite aggregate principal amount of Outstanding Securities of any or all
series have concurred in any direction, consent or waiver under this Indenture,
Securities which are owned by the Issuer or any other obligor on the Securities
with respect to which such determination is being made or by any Person directly
or indirectly controlling or controlled by or under direct or indirect common
control with the Issuer or any other obligor on the Securities with respect to
which such determination is being made shall be disregarded and deemed not to be
Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any
such direction, consent or waiver only Securities which the Trustee knows are so
owned shall be so disregarded.   Securities so owned which have
been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee the pledgee’s right so to act
with respect 

     

    
      
        
        

      

      
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    to such
Securities and that the pledgee is not the Issuer or any other obligor upon the
Securities or any Person directly or indirectly controlling or controlled by or
under direct or indirect common control with the Issuer or any other obligor on
the Securities.  In case of a dispute as to such right, the advice of
counsel shall be full protection in respect of any decision made by the Trustee
in accordance with such advice.  Upon request of the Trustee, the
Issuer shall furnish to the Trustee promptly an Officer’s Certificate listing
and identifying all Securities, if any, known by the Issuer to be owned or held
by or for the account of any of the above-described Persons; and, subject to
Sections 6.01 and 6.02, the Trustee shall be entitled to accept such Officer’s
Certificate as conclusive evidence of the facts therein set forth and of the
fact that all Securities not listed therein are Outstanding for the purpose of
any such determination.

     

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

     

    ARTICLE
8

     

    SUPPLEMENTAL
INDENTURES

     

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

     

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

     

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

     

    (c)           to
add to the covenants of the Issuer such further covenants, restrictions,
conditions or provisions as the Issuer and the Trustee shall consider to be for
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    the
Holders of Securities or Coupons, and to make the occurrence, or the occurrence
and continuance, of a default in any such additional covenants, restrictions,
conditions or provisions a Default or an Event of Default permitting the
enforcement of all or any of the several remedies provided in this Indenture as
herein set forth; provided, that in respect of any such additional covenant,
restriction, condition or provision such supplemental indenture may provide for
a particular period of grace after default (which period may be shorter or
longer than that allowed in the case of other defaults) or may provide for an
immediate enforcement upon such a Default or Event of Default or may limit the
remedies available to the Trustee upon such a Default or Event of Default or may
limit the right of the Holders of a majority in aggregate principal amount of
the Securities of such series to waive such a Default or Event of
Default;

     

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

     

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

     

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

     

    The
Trustee is hereby authorized to join with the Issuer in the execution of any
such supplemental indenture, to make any further appropriate agreements and
stipulations which may be therein contained and to accept the conveyance,
transfer, assignment, mortgage or pledge of any property thereunder, but the
Trustee shall not be obligated to enter into any such supplemental indenture
which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

     

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

     

    Section
8.02.  Supplemental Indentures with
Consent of Securityholders.  With the consent (evidenced as
provided in Article 7) of the Holders of not less than a majority in aggregate
principal amount of the Securities at the time Outstanding of all series
affected by such supplemental indenture (voting as one class), the Issuer, when
authorized by a resolution of its Board of Directors (which resolution may
provide general terms or parameters for such action and may provide that the
specific terms of such action may be determined in accordance with or pursuant
to an Issuer Order), and the Trustee may, from time to time and at any time,
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of any supplemental indenture or of modifying in
any manner the rights of the Holders of the Securities 

     

    
      
        
        

      

      
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    of each
such series or of the Coupons appertaining to such Securities; provided, that no
such supplemental indenture shall (a) (i) extend the final maturity of any
Security, (ii) reduce the principal amount thereof, (iii) reduce the rate
or extend the time of payment of interest thereon, (iv) reduce any amount
payable on redemption thereof, (v) make the principal thereof (including any
amount in respect of original issue discount), or interest thereon payable in
any coin or currency other than that provided in the Securities and Coupons or
in accordance with the terms thereof, (vi) modify or amend any provisions for
converting any currency into any other currency as provided in the Securities or
Coupons or in accordance with the terms thereof, (vii) reduce the amount of
the principal of an Original Issue Discount Security that would be due and
payable upon an acceleration of the maturity thereof pursuant to Section 5.01 or
the amount thereof provable in bankruptcy pursuant to Section 5.02, (viii)
modify or amend any provisions relating to the conversion or exchange of the
Securities or Coupons for securities of the Issuer or of other entities or other
property (or the cash value thereof), including the determination of the amount
of securities or other property (or cash) into which the Securities shall be
converted or exchanged, other than as provided in the antidilution provisions or
other similar adjustment provisions of the Securities or Coupons or otherwise in
accordance with the terms thereof, (ix) alter the provisions of Section
11.11 or Section 11.12 or impair or affect the right of any Securityholder to
institute suit for the payment thereof or, if the Securities provide therefor,
any right of repayment at the option of the Securityholder, in each case without
the consent of the Holder of each Security so affected, or (b) reduce the
aforesaid percentage of Securities of any series, the consent of the Holders of
which is required for any such supplemental indenture, without the consent of
the Holders of each Security so affected.

     

    A
supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the
rights of Holders of Securities of such series, or of Coupons appertaining to
such Securities, with respect to such covenant or provision, shall be deemed not
to affect the rights under this Indenture of the Holders of Securities of any
other series or of the Coupons appertaining to such Securities.

     

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

     

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

     

    
      
        
        

      

      
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    Promptly
after the execution by the Issuer and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Trustee shall give notice
thereof (i) if any Unregistered Securities of a series affected are then
Outstanding, to the Holders thereof, (A) by mail to such Holders who have filed
their names and addresses with the Trustee within the two years preceding the
notice at such addresses as were so furnished to the Trustee and (B) either
through the customary notice provisions of the clearing system or systems
through which beneficial interests in such Unregistered Securities are owned if
such Unregistered Securities are held only in global form or by publication at
least once in an Authorized Newspaper in the Borough of Manhattan, The City of
New York, and at least once in an Authorized Newspaper in London (and, if
required by Section 3.06, at least once in an Authorized Newspaper in
Luxembourg), and (ii) if any Registered Securities of a series affected are then
Outstanding, by mailing notice thereof by first class mail to the Holders of
then Outstanding Registered Securities of each series affected at their
addresses as they shall appear on the registry books, and in each case such
notice shall set forth in general terms the substance of such supplemental
indenture.  Any failure of the Issuer to give such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of
any such supplemental indenture.

     

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

     

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

     

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

     

    Section
8.06.  Subordination
Unimpaired.  This Indenture may not be amended to alter the
subordination of any of the Outstanding Securities without the written consent
of each holder of Senior Indebtedness then outstanding that would be adversely
affected thereby.

     

    
      
        
        

      

      
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    ARTICLE
9

     

    CONSOLIDATION,
MERGER, SALE OR CONVEYANCE

     

    Section
9.01.  Covenant Not to Merge,
Consolidate, Sell or Convey Property Except Under Certain
Conditions.  The Issuer covenants that it will not merge or
consolidate with any other Person or sell, lease or convey all or substantially
all of its assets to any other Person, unless (a) either the Issuer shall be the
continuing corporation, or the successor corporation or the Person which
acquires by sale, lease or conveyance substantially all the assets of the Issuer
(if other than the Issuer) shall be a corporation organized under the laws of
the United States of America or any State thereof or the District of Columbia
and shall expressly assume the due and punctual payment of the principal of and
interest on all the Securities and Coupons, if any, according to their tenor,
and the due and punctual performance and observance of all of the covenants and
conditions of this Indenture to be performed or observed by the Issuer, by
supplemental indenture satisfactory to the Trustee, executed and delivered to
the Trustee by such corporation, and (b) the Issuer, such Person or such
successor corporation, as the case may be, shall not, immediately after such
merger or consolidation, or such sale, lease or conveyance, be in default in the
performance of any such covenant or condition.

     

    Section
9.02.  Successor Corporation
Substituted.  In case of any such consolidation, merger, sale,
lease or conveyance, and following such an assumption by the successor
corporation, such successor corporation shall succeed to and be substituted for
the Issuer, with the same effect as if it had been named herein.  Such
successor corporation may cause to be signed, and may issue either in its own
name or in the name of the Issuer prior to such succession any or all of the
Securities issuable hereunder which together with any Coupons appertaining
thereto theretofore shall not have been signed by the Issuer and delivered to
the Trustee; and, upon the order of such successor corporation, instead of the
Issuer, and subject to all the terms, conditions and limitations in this
Indenture prescribed, the Trustee shall authenticate and shall deliver any
Securities together with any Coupons appertaining thereto which previously shall
have been signed and delivered by the officers of the Issuer to the Trustee for
authentication, and any Securities which such successor corporation thereafter
shall cause to be signed and delivered to the Trustee for that
purpose.  All of the Securities so issued together with any Coupons
appertaining thereto shall in all respects have the same legal rank and benefit
under this Indenture as the Securities theretofore or thereafter issued in
accordance with the terms of this Indenture as though all of such Securities had
been issued at the date of the execution hereof.

     

    In case
of any such consolidation, merger, sale, lease or conveyance such changes in
phrasing and form (but not in substance) may be made in the Securities and
Coupons thereafter to be issued as may be appropriate.

     

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

     

    Section
9.03.  Opinion of Counsel Delivered
to Trustee.  The Trustee, subject to the provisions of Sections
6.01 and 6.02, may receive an Opinion of Counsel as conclusive evidence

     

    
      
        
        

      

      
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    that any
such consolidation, merger, sale, lease or conveyance, and any such assumption,
and any such liquidation or dissolution, complies with the applicable provisions
of this Indenture.

     

    ARTICLE
10

     

    SATISFACTION
AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS

     

    Section
10.01.  Satisfaction and Discharge
of Indenture.  (a)  If at any time (i) the Issuer
shall have paid or caused to be paid the principal of and interest on all the
Securities of any series Outstanding hereunder and all unmatured Coupons
appertaining thereto (other than Securities of such series and Coupons
appertaining thereto which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 2.09) as and when the same shall
have become due and payable, or (ii) the Issuer shall have delivered to the
Trustee for cancellation all Securities of any series theretofore authenticated
and all unmatured Coupons appertaining thereto (other than any Securities of
such series and Coupons appertaining thereto which shall have been destroyed,
lost or stolen and which shall have been replaced or paid as provided in Section
2.09) or (iii) in the case of any series of Securities where the exact amount
(including the currency of payment) of principal of and interest due on which
can be determined at the time of making the deposit referred to in clause (B)
below, (A) all the Securities of such series and all unmatured Coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation
shall have become due and payable, or are by their terms to become due and
payable within one year or are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption,
and (B) the Issuer shall have irrevocably deposited or caused to be deposited
with the Trustee as trust funds the entire amount in cash (other than moneys
repaid by the Trustee or any paying agent to the Issuer in accordance with
Section 10.04) or, in the case of any series of Securities the payments on which
may only be made in Dollars, direct obligations of the United States of America,
backed by its full faith and credit (“U.S. Government Obligations”), maturing as
to principal and interest at such times and in such amounts as will insure the
availability of cash, or a combination thereof, sufficient in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay (1) the principal
and interest on all Securities of such series and Coupons appertaining thereto
on each date that such principal or interest is due and payable and (2) any
mandatory sinking fund payments on the dates on which such payments are due and
payable in accordance with the terms of the Indenture and the Securities of such
series; and if, in any such case, the Issuer shall also pay or cause to be paid
all other sums payable hereunder by the Issuer with respect to the Securities of
such series, then this Indenture shall cease to be of further effect with
respect to the Securities of such series and the Coupons appertaining thereto
(except as to (i) rights of registration of transfer and exchange of Securities
of such Series and of Coupons appertaining thereto and the Issuer’s right of
optional redemption, if any, (ii) substitution of mutilated, defaced, destroyed,
lost or stolen Securities or Coupons, (iii) rights of holders of Securities and
Coupons appertaining thereto to receive payments of principal thereof and
interest thereon, upon the original stated due dates therefor (but not upon
acceleration), and remaining rights of the Holders to receive mandatory sinking
fund payments, if any, (iv) the rights, obligations, duties and immunities of
the Trustee hereunder, (v) the rights of the Holders of Securities of such
series and Coupons appertaining thereto as beneficiaries hereof with respect to
the property so deposited with the Trustee payable to all or any of them, and
(vi) the obligations of the Issuer under Section 3.02) and the Trustee, on
demand of the 

     

    
      
        
        

      

      
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    Issuer
accompanied by an Officer’s Certificate and an Opinion of Counsel and at the
cost and expense of the Issuer, shall execute proper instruments acknowledging
such satisfaction of and discharging this Indenture as to such series; provided,
that the rights of Holders of the Securities and Coupons to receive amounts in
respect of principal of and interest on the Securities and Coupons held by them
shall not be delayed longer than required by then-applicable mandatory rules or
policies of any securities exchange upon which the Securities are
listed.  The Issuer agrees to reimburse the Trustee for any costs or
expenses thereafter reasonably and properly incurred and to compensate the
Trustee for any services thereafter reasonably and properly rendered by the
Trustee in connection with this Indenture or the Securities of such
series.

     

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

     

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

     

    
      
        
        

      

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

     

    (iii)           the
Issuer has delivered to the Trustee an Opinion of Counsel based on the fact that
(x) the Issuer has received from, or there has been published by, the Internal
Revenue Service a ruling or (y) since the date hereof, there has been a
change in the applicable Federal income tax law, in either case to the effect
that, and such opinion shall confirm that, the Holders of the Securities of such
series and Coupons appertaining thereto will not recognize income, gain or loss
for Federal income tax purposes as a result of such deposit, defeasance and
discharge and will be subject to Federal income tax on the same amount and in
the same manner and at the same times, as would have been the case if such
deposit, defeasance and discharge had not occurred;

     

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

     

    (v)           no
event or condition shall exist that, pursuant to the provisions of Section
13.01, would prevent the Issuer from making payments of the principal of or
interest on the Securities of such series and Coupons appertaining thereto on
the date of such deposit or at any time during the period ending on the 91st day
after the date of such deposit (it being understood that this condition shall
not be deemed satisfied until the expiration of such period); and

     

    (vi)           the
Issuer has delivered to the Trustee an Opinion of Counsel to the effect that (x)
the trust funds will not be subject to any rights of holders of Senior
Indebtedness, including without limitation those arising under Article 13 of
this Indenture, and (y) after the 91st day following the deposit, the trust
funds will not be subject to the effect of any applicable bankruptcy,
insolvency, reorganization or similar laws affecting creditors’ rights
generally, except that if a court were to rule under any such law in any case or
proceeding that the trust funds remained property of the Issuer, no opinion is
given as to the effect of such laws on the trust funds except the following: (A)
assuming such trust funds remained in the Trustee’s possession prior to such
court ruling to the extent not paid to Holders of Securities of such series and
Coupons appertaining thereto, the Trustee will hold, for the benefit of such
Holders, a valid and perfected security interest in such trust funds that is not
avoidable in bankruptcy or otherwise, (B) such Holders will be entitled to
receive adequate protection of their interests in such trust funds if such trust
funds are used, and (C) no property, rights in property or other interests
granted to the Trustee or such Holders in exchange for or with respect to any of
such funds will be subject to any prior rights of holders of Senior
Indebtedness, including without limitation those arising under Article 13 of
this Indenture.

     

    (c)           The
Issuer shall be released from its obligations under Section 9.01 with respect to
the Securities of any Series, and any Coupons appertaining thereto, Outstanding
on and after the date the conditions set forth below are satisfied (hereinafter,
“covenant 

     

    
      
        
        

      

      
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    defeasance”).  For
this purpose, such covenant defeasance means that, with respect to the
Outstanding Securities of any Series, the Issuer may omit to comply with and
shall have no liability in respect of any term, condition or limitation set
forth in such Section, whether directly or indirectly by reason of any reference
elsewhere herein to such Section or by reason of any reference in such Section
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, but the remainder
of this Indenture and such Securities and Coupons shall be unaffected
thereby.  The following shall be the conditions to application of this
subsection (c) of this Section 10.01:

     

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

     

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

     

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

     

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

     

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

     

    (vi)           No
event or condition shall exist that, pursuant to the provisions of Section
13.01, would prevent the Issuer from making payments of the principal of or
interest on the Securities of such series and Coupons appertaining thereto on
the date of such deposit or at any time during the period ending on the 91st day
after the date of such 

     

    
      
        
        

      

      
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    deposit
(it being understood that this condition shall not be deemed satisfied until the
expiration of such period).

     

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

     

    (viii)          The
Issuer shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for
relating to the covenant defeasance contemplated by this provision have been
complied with.

     

    (ix)           The
Issuer has delivered to the Trustee an Opinion of Counsel to the effect that (x)
the trust funds will not be subject to any rights of holders of Senior
Indebtedness, including without limitation those arising under Article 13 of
this Indenture, and (y) after the 91st day following the deposit, the trust
funds will not be subject to the effect of any applicable bankruptcy,
insolvency, reorganization or similar laws affecting creditors’ rights
generally, except that if a court were to rule under any such law in any case or
proceeding that the trust funds remained property of the Issuer, no opinion is
given as to the effect of such laws on the trust funds except the following: (A)
assuming such trust funds remained in the Trustee’s possession prior to such
court ruling to the extent not paid to Holders of Securities of such series and
Coupons appertaining thereto, the Trustee will hold, for the benefit of such
Holders, a valid and perfected security interest in such trust funds that is not
avoidable in bankruptcy or otherwise, (B) such Holders will be entitled to
receive adequate protection of their interests in such trust funds if such trust
funds are used, and (C) no property, rights in property or other interests
granted to the Trustee or such Holders in exchange for or with respect to any of
such funds will be subject to any prior rights of holders of Senior
Indebtedness, including without limitation those arising under Article 13 of
this Indenture.

     

    Section
10.02.  Application by Trustee of
Funds Deposited for Payment of Securities.  Subject to Section
10.04, all moneys deposited with the Trustee (or other trustee) pursuant to
Section 10.01 shall be held in trust and applied by it to the payment, either
directly or through any paying agent (including the Issuer acting as its own
paying agent), to the Holders of the particular Securities of such series and of
Coupons appertaining thereto for the payment or redemption of which such moneys
have been deposited with the Trustee, of all sums due and to become due thereon
for principal and interest; but such money need not be segregated from other
funds except to the extent required by law.

     

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

     

    
      
        
        

      

      
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    thereupon
such paying agent shall be released from all further liability with respect to
such moneys.

     

    Section
10.04.  Return of Moneys Held by
Trustee and Paying Agent Unclaimed for Two Years.  Any moneys
deposited with or paid to the Trustee or any paying agent for the payment of the
principal of or interest on any Security of any series or Coupons attached
thereto and not applied but remaining unclaimed for two years after the date
upon which such principal or interest shall have become due and payable, shall,
upon the written request of the Issuer and unless otherwise required by
mandatory provisions of applicable escheat or abandoned or unclaimed property
law, be repaid to the Issuer by the Trustee for such series or such paying
agent, and the Holder of the Securities of such series and of any Coupons
appertaining thereto shall, unless otherwise required by mandatory provisions of
applicable escheat or abandoned or unclaimed property laws, thereafter look only
to the Issuer for any payment which such Holder may be entitled to collect, and
all liability of the Trustee or any paying agent with respect to such moneys
shall thereupon cease; provided, however, that the Trustee or such paying agent,
before being required to make any such repayment with respect to moneys
deposited with it for any payment (a) in respect of Registered Securities of any
series, shall at the expense of the Issuer, mail by first-class mail to Holders
of such Securities at their addresses as they shall appear on the Security
register, and (b) in respect of Unregistered Securities of any series, shall at
the expense of the Issuer either give through the customary notice provisions of
the clearing system or systems through which beneficial interests in such
Unregistered Securities are owned if such Unregistered Securities are held only
in global form or cause to be published once, in an Authorized Newspaper in the
Borough of Manhattan, The City of New York and once in an Authorized Newspaper
in London (and if required by Section 3.06, once in an Authorized Newspaper in
Luxembourg), notice, that such moneys remain and that, after a date specified
therein, which shall not be less than thirty days from the date of such mailing
or publication, any unclaimed balance of such money then remaining will be
repaid to the Issuer.

     

    Section
10.05.  Indemnity for U.S.
Government Obligations.  The Issuer 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 10.01 or the principal
or interest received in respect of such obligations.

     

    ARTICLE
11

     

    MISCELLANEOUS
PROVISIONS

     

    Section
11.01.  Incorporators, Stockholders,
Officers and Directors of Issuer Exempt from Individual
Liability.  No recourse under or upon any obligation, covenant
or agreement contained in this Indenture, or in any Security, or because of any
indebtedness evidenced thereby, shall be had against any incorporator, as such
or against any past, present or future stockholder, officer or director, as
such, of the Issuer or of any successor, either directly or through the Issuer
or any successor, under any rule of law, statute or constitutional provision or
by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the
acceptance of the Securities and the Coupons appertaining thereto by the Holders
thereof and as part of the consideration for the issue of the Securities and the
Coupons appertaining thereto.

     

    
      
        
        

      

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

     

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

     

    Section
11.04.  Notices and Demands on
Issuer, Trustee and Holders of Securities and Coupons.  Any
notice or demand which by any provision of this Indenture is required or
permitted to be given or served by the Trustee or by the Holders of Securities
or Coupons to or on the Issuer may be given or served by being deposited postage
prepaid, first-class mail (except as otherwise specifically provided herein)
addressed (until another address of the Issuer is filed by the Issuer with the
Trustee) to KBW, Inc., 787 Seventh Avenue, New York, New York 10019,
Attention:  Secretary.  Any notice, direction, request or
demand by the Issuer or any Holder of Securities or Coupons to or upon the
Trustee shall be deemed to have been sufficiently given or served by being
deposited postage prepaid, first-class mail (except as otherwise specifically
provided herein) addressed (until another address of the Trustee is filed by the
Trustee with the Issuer) to [•].

     

    Where
this Indenture provides for notice to Holders of Registered Securities, such
notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to each Holder entitled
thereto, at his last address as it appears in the Security
register.  In any case where notice to such Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed,
to any particular Holder shall affect the sufficiency of such notice with
respect to other Holders.  Where this Indenture provides for notice in
any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall be
the equivalent of such notice.  Waivers of notice by Holders shall be
filed with the Trustee, but such filing shall not be a condition precedent to
the validity of any action taken in reliance upon such waiver.

     

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

     

    Section
11.05.  Officer’s Certificates and
Opinions of Counsel; Statements to Be Contained Therein.  Upon
any application or demand by the Issuer to the Trustee to take any action under
any of the provisions of this Indenture, the Issuer shall furnish to the Trustee
an Officer’s Certificate stating that all conditions precedent provided for in
this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the 

     

    
      
        
        

      

      
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    opinion
of such counsel all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of
such documents is specifically required by any provision of this Indenture
relating to such particular application or demand, no additional certificate or
opinion need be furnished.

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

    Section
11.12.  Judgment
Currency.  The Issuer agrees, to the fullest extent that it may
effectively do so under applicable law, that (a) if for the purpose of obtaining
judgment in any court it is necessary to convert the sum due in respect of the
principal of or interest on the Securities of any series (the “Required
Currency”) into a currency in which a judgment will be 

     

    
      
        
        

      

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

     

    ARTICLE
12

     

    REDEMPTION
OF SECURITIES AND SINKING FUNDS

     

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

     

    Section
12.02.  Notice of Redemption;
Partial Redemptions.  Notice of redemption to the Holders of
Registered Securities of any series to be redeemed as a whole or in part at the
option of the Issuer shall be given by mailing notice of such redemption by
first class mail, postage prepaid, to such Holders of Securities of such series
at their last addresses as they shall appear upon the registry books at least 30
days and not more than 60 days prior to the date fixed for redemption, or within
such other redemption notice period as has been designated for any Securities of
such series pursuant to Section 2.03 or 2.04 (the “Redemption Notice
Period”).  Notice of redemption to the Holders of Unregistered
Securities to be redeemed as a whole or in part, who have filed their names and
addresses with the Trustee within two years preceding such notice of redemption,
shall be given by mailing notice of such redemption, by first class mail,
postage prepaid, at least 30 and not more than 60 days prior to the date fixed
for redemption or within any applicable Redemption Notice Period to such Holders
at such addresses as were so furnished to the Trustee (and, in the case of any
such notice given by the Issuer, the Trustee shall make such information
available to the Issuer for such purpose).  Notice of redemption to
all other Holders of Unregistered Securities shall be published in an Authorized
Newspaper in the Borough of Manhattan, The City of New York and in an Authorized
Newspaper in London (and, if required by Section 3.06, in an Authorized
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    each of
three successive calendar weeks, the first publication to be not less than 30
nor more than 60 days prior to the date fixed for redemption or within any
applicable Redemption Notice Period; provided that notice to Holders of
Unregistered Securities held only in global form may be made, at the option of
the Issuer, through the customary notice provisions of the clearing system or
systems through which beneficial interests in such Unregistered Securities are
owned.  Any notice which is mailed in the manner herein provided shall
be conclusively presumed to have been duly given, whether or not the Holder
receives the notice.  Failure to give notice by mail, or any defect in
the notice to the Holder of any Security of a series designated for redemption
as a whole or in part shall not affect the validity of the proceedings for the
redemption of any other Security of such series.

     

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

     

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

     

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

     

    If less
than all the Securities of a series are to be redeemed, the Trustee shall
select, in such manner as it shall deem appropriate and fair, Securities of such
Series to be redeemed in whole or in part.  Securities may be redeemed
in part in multiples equal to the minimum authorized denomination for Securities
of such series or any multiple thereof.  The Trustee shall promptly
notify the Issuer in writing of the Securities of such series selected for
redemption and, 

     

    
      
        
        

      

      
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    in the
case of any Securities of such series selected for partial redemption, the
principal amount thereof to be redeemed.  For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to the
redemption of Securities of any series shall relate, in the case of any Security
redeemed or to be redeemed only in part, to the portion of the principal amount
of such Security which has been or is to be redeemed.

     

    Section
12.03.  Payment of Securities Called
for Redemption.  If notice of redemption has been given as
above provided, the Securities or portions of Securities specified in such
notice shall become due and payable on the date and at the place stated in such
notice at the applicable redemption price, together with interest accrued to the
date fixed for redemption, and on and after said date (unless the Issuer shall
default in the payment of such Securities at the redemption price, together with
interest accrued to said date) interest on the Securities or portions of
Securities so called for redemption shall cease to accrue, and the unmatured
Coupons, if any, appertaining thereto shall be void, and, except as provided in
Sections 6.05 and 10.04, such Securities shall cease from and after the date
fixed for redemption to be entitled to any benefit or security under this
Indenture, and the Holders thereof shall have no right in respect of such
Securities except the right to receive the redemption price thereof and unpaid
interest to the date fixed for redemption.  On presentation and
surrender of such Securities at a place of payment specified in said notice,
together with all Coupons, if any, appertaining thereto maturing after the date
fixed for redemption, said Securities or the specified portions thereof shall be
paid and redeemed by the Issuer at the applicable redemption price, together
with interest accrued thereon to the date fixed for redemption; provided that
payment of interest becoming due on or prior to the date fixed for redemption
shall be payable in the case of Securities with Coupons attached thereto, to the
Holders of the Coupons for such interest upon surrender thereof, and in the case
of Registered Securities, to the Holders of such Registered Securities
registered as such on the relevant record date subject to the terms and
provisions of Sections 2.03 and 2.07 hereof.

     

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

     

    If any
Security with Coupons attached thereto is surrendered for redemption and is not
accompanied by all appurtenant Coupons maturing after the date fixed for
redemption, the surrender of such missing Coupon or Coupons may be waived by the
Issuer and the Trustee, if there be furnished to each of them such security or
indemnity as they may require to save each of them harmless.

     

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

     

    Section
12.04.  Exclusion of Certain
Securities from Eligibility for Selection for
Redemption.  Securities shall be excluded from eligibility for
selection for redemption if they are identified by registration and certificate
number in an Officer’s Certificate delivered to the Trustee at least 40 days
prior to the last date on which notice of redemption may be given as

     

    
      
        
        

      

      
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    being
owned of record and beneficially by, and not pledged or hypothecated by either
(a) the Issuer or (b) an entity specifically identified in such written
statement as directly or indirectly controlling or controlled by or under direct
or indirect common control with the Issuer.

     

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

     

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

     

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

     

    
      
        
        

      

      
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    Issuer
will make no optional sinking fund payment with respect to such series as
provided in this Section.

     

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

     

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

     

    The
Trustee shall not redeem or cause to be redeemed any Securities of a series with
sinking fund moneys or give any notice of redemption of Securities for such
series by operation of the sinking fund during the continuance of a default in
payment of interest on such Securities or of any Default except that, where the
giving of notice of redemption of any Securities shall theretofore have been
made, the Trustee shall redeem or cause to be redeemed such Securities, provided
that it shall have received from the Issuer a sum sufficient for such
redemption.  Except 

     

    
      
        
        

      

      
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    as
aforesaid, any moneys in the sinking fund for such series at the time when any
such default or Default shall occur, and any moneys thereafter paid into the
sinking fund, shall, during the continuance of such default or Default, be
deemed to have been collected under Article 5 and held for the payment of all
such Securities.  In case such Default shall have been waived as
provided in Section 5.10 or the default cured on or before the sixtieth day
preceding the sinking fund payment date in any year, such moneys shall
thereafter be applied on the next succeeding sinking fund payment date in
accordance with this Section to the redemption of such Securities.

     

    ARTICLE
13

     

    SUBORDINATION

     

    Section
13.01.  Securities and Coupons
Subordinated to Senior Indebtedness.  The Issuer covenants and
agrees, and each Holder of a Security or Coupon, by his acceptance thereof,
likewise covenants and agrees, that the indebtedness represented by the
Securities and any Coupons and the payment of the principal of and interest on
each and all of the Securities and of any Coupons is hereby expressly
subordinated, to the extent and in the manner hereinafter set forth, in right of
payment to the prior payment in full of Senior Indebtedness.

     

    In the
event (a) of any insolvency or bankruptcy proceedings or any receivership,
liquidation, reorganization or other similar proceedings in respect of the
Issuer or a substantial part of its property, or of any proceedings for
liquidation, dissolution or other winding up of the Issuer, whether or not
involving insolvency or bankruptcy, or (b) subject to the provisions of Section
13.02 that (i) a default shall have occurred with respect to the payment of
principal of or interest on or other monetary amounts due and payable on any
Senior Indebtedness, or (ii) there shall have occurred an event of default
(other than a default in the payment of principal or interest or other monetary
amounts due and payable) in respect of any Senior Indebtedness, as defined
therein or in the instrument under which the same is outstanding, permitting the
holder or holders thereof to accelerate the maturity thereof (with notice or
lapse of time, or both), and such event of default shall have continued beyond
the period of grace, if any, in respect thereof, and, in the cases of subclauses
(i) and (ii) of this clause (b), such default or event of default shall not have
been cured or waived or shall not have ceased to exist, or (c) that the
principal of and accrued interest on the Securities of any series shall have
been declared due and payable pursuant to Section 5.01 and such declaration
shall not have been rescinded and annulled as provided in Section 5.01
then:

     

    (i)           the
holders of all Senior Indebtedness shall first be entitled to receive payment of
the full amount due thereon, or provision shall be made for such payment in
money or money’s worth, before the Holders of any of the Securities or Coupons
are entitled to receive a payment on account of the principal of or interest on
the indebtedness evidenced by the Securities or of the Coupons, including,
without limitation, any payments made pursuant to Article 12;

     

    (ii)           any
payment by, or distribution of assets of, the Issuer of any kind or character,
whether in cash, property or securities, to which the Holders of any of the
Securities or Coupons or the Trustee would be entitled except for the provisions
of this 

     

    
      
        
        

      

      
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    Article
shall be paid or delivered by the Person making such payment or distribution,
whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise,
directly to the holders of such Senior Indebtedness or their representative or
representatives or to the trustee or trustees under any indenture under which
any instruments evidencing any of such Senior Indebtedness may have been issued,
ratably according to the aggregate amounts remaining unpaid on account of such
Senior Indebtedness held or represented by each, to the extent necessary to make
payment in full of all Senior Indebtedness remaining unpaid after giving effect
to any concurrent payment or distribution (or provision therefor) to the holders
of such Senior Indebtedness, before any payment or distribution is made to the
holders of the indebtedness evidenced by the Securities or Coupons or to the
Trustee under this instrument; and

     

    (iii)           in
the event that, notwithstanding the foregoing, any payment by, or distribution
of assets of, the Issuer of any kind or character, whether in cash, property or
securities, in respect of principal of or interest on the Securities or in
connection with any repurchase by the Issuer of the Securities, shall be
received by the Trustee or the Holders of any of the Securities or Coupons
before all Senior Indebtedness is paid in full, or provision made for such
payment in money or money’s worth, such payment or distribution in respect of
principal of or interest on the Securities or in connection with any repurchase
by the Issuer of the Securities shall be paid over to the holders of such Senior
Indebtedness or their representative or representatives or to the trustee or
trustees under any indenture under which any instruments evidencing any such
Senior Indebtedness may have been issued, ratably as aforesaid, for application
to the payment of all Senior Indebtedness remaining unpaid until all such Senior
Indebtedness shall have been paid in full, after giving effect to any concurrent
payment or distribution (or provision therefor) to the holders of such Senior
Indebtedness.

     

    Notwithstanding
the foregoing, at any time after the 91st day following the date of deposit of
cash or, in the case of Securities payable only in Dollars, U.S. Government
Obligations pursuant to Section 10.01(b) or 10.01(c) (provided all other
conditions set out in such Section shall have been satisfied) the funds so
deposited and any interest thereon will not be subject to any rights of holders
of Senior Indebtedness including, without limitation, those arising under this
Article 13.

     

    Section
13.02.  Disputes with Holders of
Certain Senior Indebtedness.  Any failure by the Issuer to make
any payment on or perform any other obligation under Senior Indebtedness, other
than any indebtedness incurred by the Issuer or assumed or guaranteed, directly
or indirectly, by the Issuer for money borrowed (or any deferral, renewal,
extension or refunding thereof) or any indebtedness or obligation as to which
the provisions of this Section shall have been waived by the Issuer in the
instrument or instruments by which the Issuer incurred, assumed, guaranteed or
otherwise created such indebtedness or obligation, shall not be deemed a default
or event of default under Section 13.01(b) if (a) the Issuer shall be disputing
its obligation to make such payment or perform such obligation and (b) either
(i) no final judgment relating to such dispute shall have been issued against
the Issuer which is in full force and effect and is not subject to further
review, including a judgment that has become final by reason of the expiration
of the time within which a party may seek further appeal or review, and (ii) in
the event of a judgment that is subject to further review or appeal has been
issued, the Issuer shall in good faith be 

     

    
      
        
        

      

      
        60

        
          

        

      

      
        
        

      

    

     

    prosecuting
an appeal or other proceeding for review and a stay of execution shall have been
obtained pending such appeal or review.

     

    Section
13.03.  Subrogation.  Subject
to the payment in full of all Senior Indebtedness, the Holders of the Securities
and any Coupons shall be subrogated (equally and ratably with the holders of all
obligations of the Issuer which by their express terms are subordinated to
Senior Indebtedness of the Issuer to the same extent as the Securities are
subordinated and which are entitled to like rights of subrogation) to the rights
of the holders of Senior Indebtedness to receive payments or distributions of
cash, property or securities of the Issuer applicable to the Senior Indebtedness
until all amounts owing on the Securities and any Coupons shall be paid in full,
and as between the Issuer, its creditors other than holders of such Senior
Indebtedness and the Holders, no such payment or distribution made to the
holders of Senior Indebtedness by virtue of this Article that otherwise would
have been made to the Holders shall be deemed to be a payment by the Issuer on
account of such Senior Indebtedness, it being understood that the provisions of
this Article are and are intended solely for the purpose of defining the
relative rights of the Holders, on the one hand, and the holders of Senior
Indebtedness, on the other hand.

     

    Section
13.04.  Obligation of Issuer
Unconditional.  Nothing contained in this Article or elsewhere
in this Indenture or in the Securities or any Coupons is intended to or shall
impair, as among the Issuer, its creditors other than the holders of Senior
Indebtedness and the Holders, the obligation of the Issuer, which is absolute
and unconditional, to pay to the Holders the principal of and interest on the
Securities and the amounts owed pursuant to any Coupons as and when the same
shall become due and payable in accordance with their terms, or is intended to
or shall affect the relative rights of the Holders and creditors of the Issuer
other than the holders of Senior Indebtedness, nor shall anything herein or
therein prevent the Trustee or any Holder from exercising all remedies otherwise
permitted by applicable law upon default under this Indenture, subject to the
rights, if any, under this Article of the holders of Senior Indebtedness in
respect of cash, property or securities of the Issuer received upon the exercise
of any such remedy.

     

    Upon
payment or distribution of assets of the Issuer referred to in this Article, the
Trustee and the Holders shall be entitled to rely upon any order or decree made
by any court of competent jurisdiction in which any such dissolution, winding
up, liquidation or reorganization proceeding affecting the affairs of the Issuer
is pending or upon a certificate of the trustee in bankruptcy, receiver,
assignee for the benefit of creditors, liquidating trustee or agent or other
Person making any payment or distribution, delivered to the Trustee or to the
Holders, for the purpose of ascertaining the Persons entitled to participate in
such payment or distribution, the holders of the Senior Indebtedness and other
indebtedness of the Issuer, the amount thereof or payable thereon, the amount
paid or distributed thereon and all other facts pertinent thereto or to this
Article.

     

    Section
13.05.  Payments on Securities and
Coupons Permitted.  Nothing contained in this Article or
elsewhere in this Indenture or in the Securities or Coupons shall affect the
obligations of the Issuer to make, or prevent the Issuer from making, payment of
the principal of or interest on the Securities and of any Coupons in accordance
with the provisions hereof and thereof, except as otherwise provided in this
Article.

     

    
      
        
        

      

      
        61

        
          

        

      

      
        
        

      

    

    Section
13.06.  Effectuation of
Subordination by Trustee.  Each holder of Securities or
Coupons, by his acceptance thereof, authorizes and directs the Trustee on his
behalf to take such action as may be necessary or appropriate to effectuate the
subordination provided in this Article and appoints the Trustee his
attorney-in-fact for any and all such purposes.

     

    Section
13.07.  Knowledge of
Trustee.  Notwithstanding the provisions of this Article or any
other provisions of this Indenture, the Trustee shall not be charged with
knowledge of the existence of any facts that would prohibit the making of any
payment of moneys to or by the Trustee, or the taking of any other action by the
Trustee, unless and until the Trustee shall have received written notice thereof
mailed or delivered to the Trustee at its Corporate Trust Office from the
Issuer, any Holder, any paying agent or the holder or representative of any
class of Senior Indebtedness; provided that if at least three Business Days
prior to the date upon which by the terms hereof any such moneys may become
payable for any purpose (including, without limitation, the payment of the
principal or interest on any Security or interest on any Coupon) the Trustee
shall not have received with respect to such moneys the notice provided for in
this Section, then, anything herein contained to the contrary notwithstanding,
the Trustee shall have full power and authority to receive such moneys and to
apply the same to the purpose for which they were received and shall not be
affected by any notice to the contrary that may be received by it within three
Business Days prior to or on or after such date.

     

    Section
13.08.  Trustee May Hold Senior
Indebtedness.  The Trustee shall be entitled to all the rights
set forth in this Article with respect to any Senior Indebtedness at the time
held by it, to the same extent as any other holder of Senior Indebtedness, and
nothing in Section 6.03 or elsewhere in this Indenture shall deprive the Trustee
of any of its rights as such holder.

     

    Section
13.09.  Rights of Holders of Senior
Indebtedness Not Impaired.  No right of any present or future
holder of any Senior Indebtedness to enforce the subordination herein shall at
any time or in any way be prejudiced or impaired by any act or failure to act on
the part of the Issuer or by any noncompliance by the Issuer with the terms,
provisions and covenants of this Indenture, regardless of any knowledge thereof
any such holder may have or be otherwise charged with.

     

    With
respect to the holders of Senior Indebtedness, (a) the duties and obligations of
the Trustee shall be determined solely by the express provisions of this
Indenture, (b) the Trustee shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Indenture, (c)
no implied covenants or obligations shall be read into this Indenture against
the Trustee and (d) the Trustee shall not be deemed to be a fiduciary as to such
holders.

     

    Section
13.10.  Article Applicable to Paying
Agents.  In case at any time any paying agent other than the
Trustee shall have been appointed by the Issuer and be then acting hereunder,
the term “Trustee” as used in this Article shall in such case (unless the
context shall require otherwise) be construed as extending to and including such
paying agent within its meaning as fully for all intents and purposes as if such
paying agent were named in this Article in addition to or in place of the
Trustee, provided, however, that Sections 13.07 and 13.08 shall not apply to the
Issuer if it acts as its own paying agent.

     

    
      
        
        

      

      
        62

        
          

        

      

      
        
        

      

    

    Section
13.11.  Trustee; Compensation Not
Prejudiced.  Nothing in this Article shall apply to claims of,
or payments to, the Trustee pursuant to Section 6.06.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        63

        
          

        

      

      
        
        

      

    

    IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, and their respective corporate seals to be hereunto affixed and
attested, all as of [•].

     

    
    

     

    
      	 	 KBW,
      INC.
	 [CORPORATE
      SEAL]	 
	 	 By:                                                                                                       
      
	 	 Name:
	 	 Title:
	 	 
	 Attest:	 
	 	 
	 	 
	 By:                                                                                                       
      	 
	 Title:	 
	 	 
	 	 [•]
	 [CORPORATE
      SEAL]	 TRUSTEE
	 	 
	 	 
	 	 By:                                                                                                       
      
	 	 Name:
	 	 Title:
	 	 
	 Attest:	 
	 	 
	 	 
	 By:                                                                                                       
      	 
	
              Title:ex101to8k05733_09032008.htm

    Exhibit 10.1

     

    
      

       

      FIRST
AMENDMENT

       

      FIRST AMENDMENT, dated as of
September 3, 2008 (this “Amendment”), to the Amended and Restated Loan and
Security Agreement, dated as of May 25, 2007 (the “Loan Agreement”), among Del
Global Technologies Corp. (“Del Global”), RFI Corporation and Del Medical
Imaging Corp. (collectively, the “Borrowers”) and Capital One Leveraged Finance
Corp., formerly known as North Fork Business Capital Corp. (the
“Lender”).  Capitalized terms used herein and not otherwise defined
herein shall have the meanings ascribed to such terms in the Loan
Agreement.

       

      W I T N E S S E T
H
:

       

      WHEREAS, the Borrowers and the
Lender are parties to the Loan Agreement, under which the Lender has agreed to
make, and has made, Loans and other extensions of credit and accommodations to
the Borrowers on the terms and subject to the conditions set forth therein;
and

       

      WHEREAS, the Borrowers have
requested that the Lender agree, and the Lender has agreed, to amend the Loan
Agreement to increase the amount of Letters of Credit available to be issued for
the account of the Borrowers, upon the terms and subject to the conditions set
forth herein.

       

      NOW, THEREFORE, the Borrowers
and the Lender agree as follows:

       

      SECTION
1.       Amendment
to the Loan Agreement.  Effective as of the date hereof,
Section 2.10 of the Loan Agreement is amended by deleting “Two Million Dollars
($2,000,000)” and substituting Three Million Five Hundred Thousand Dollars
($3,500,000) therefor.

       

      SECTION
2.       Conditions
of Effectiveness.  This Amendment
shall become effective when, and only when, the Lender shall have received
(a) counterparts of this Amendment, duly executed by the Borrowers, and (b)
payment of the costs and expenses (including, without limitation, reasonable
attorneys’ fees) incurred by the Lender in connection with this
Amendment.

       

      SECTION
3.       Representations
and Warranties of the Borrowers.  Each Borrower
represents and warrants as follows:

       

      (a)     Such
Borrower is a corporation duly organized, validly existing and in good standing
under the laws of the State of New York or Delaware, as the case may be, and is
qualified to do business under the laws of such other jurisdictions in which its
failure to so qualify could have a Material Adverse Effect.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (b)     The
execution, delivery and performance by such Borrower of this Amendment
(i) are within such Borrower’s corporate powers, have been duly authorized
by all necessary corporate action and do not contravene (A) such Borrower’s
Governing Documents, (B) any Requirement of Law or (C) any Material
Contract and (ii) will not result in or require the creation or imposition
of any Lien upon or with respect to any property now owned or hereafter acquired
by such Borrower.

       

      (c)     No
authorization, approval or other action by, and no notice to or filing with, any
Governmental Authority or other Person is required for the due execution,
delivery and performance by such Borrower of this Amendment.

       

      (d)     This
Amendment and the Loan Agreement as amended hereby constitute the legal, valid
and binding obligations of such Borrower enforceable against such Borrower in
accordance with their respective terms except as enforceability may be limited
by (i) bankruptcy, insolvency or similar laws affecting creditors’ rights
generally and (ii) general principles of equity.

       

      (e)     Except
as specified in Schedule 6.1(r) to the Loan Agreement, there is no pending or,
to the best of such Borrower’s knowledge after due inquiry, threatened
litigation, contested claim, investigation, arbitration or governmental
proceeding by or against such Borrower before any court, Governmental Authority
or arbitrator which individually or in the aggregate could reasonably be
expected to have a Material Adverse Effect or which purports to affect the
legality, validity or enforceability of this Amendment or the Loan Agreement as
amended hereby.

       

      (f)      No
Default has occurred and is continuing.

       

      SECTION
4.        Reference to and Effect on
the Loan Agreement.

       

      (a)     On
and after the date hereof, each reference in the Loan Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” and words of like import, and each
reference in the other Loan Documents to the Loan Agreement shall mean and be a
reference to the Loan Agreement as amended hereby.

       

      (b)     Except
as specifically amended above, (i) the Loan Agreement and each other Loan
Document shall remain in full force and effect and are hereby ratified and
confirmed by each of the parties hereto and (ii) the Lender shall not be
deemed to have waived any rights or remedies it may have under the Loan
Agreement, any other Loan Document or applicable law.

       

      (c)     The
execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of or an amendment to any right,
power or remedy of the Lender under any of the Loan Documents, or constitute a
waiver of or an amendment to any provision of any of the Loan
Documents.

       

      SECTION
5.       Costs and
Expenses.  The Borrowers
agree to pay, on demand, all reasonable out-of-pocket costs and expenses
incurred by the Lender in connection with the preparation, negotiation and
execution of this Amendment (including, without limitation, the reasonable fees
and expenses of counsel to the Lender).

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      SECTION
6.       Counterparts;
Telecopied and other Electronic Signatures.  This Amendment
may be executed in counterparts and by the parties hereto in separate
counterparts, each of which when so executed and delivered shall be an original,
but all of which shall together constitute one and the same
instrument.  This Amendment may be executed and delivered by
telecopier or other electronic transmission with the same force and effect as if
the same were a fully executed and delivered original manual
counterpart.

       

      SECTION
7.       GOVERNING
LAW.  THE VALIDITY,
INTERPRETATION AND ENFORCEMENT OF THIS AMENDMENT AND ANY DISPUTE ARISING OUT OF
OR IN CONNECTION WITH THIS AMENDMENT, WHETHER SOUNDING IN CONTRACT, TORT OR
EQUITY OR OTHERWISE, SHALL BE GOVERNED BY THE INTERNAL LAWS (AS OPPOSED TO THE
CONFLICTS OF LAW PROVISIONS) AND DECISIONS OF THE STATE OF NEW
YORK.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above
written.

       

       

      
        	DEL
      GLOBAL TECHNOLOGIES CORP.
	 	 
	 	 
	
                By:

              	
                
                  /s/
      Mark A. Zorko

                

              
	 
      	
                Mark
      A. Zorko

              
	 
      	
                Chief
      Financial Officer

              
	 
      
	 
      
	
                RFI
      CORPORATION

              
	
                By:

              	
                
                  Mark
      A. Zorko

                

              
	 
      	
                Mark
      A. Zorko

              
	 
      	
                Chief
      Financial Officer

              
	 
      
	 
      
	
                DEL
      MEDICAL IMAGING CORP.

              
	
                By:

              	
                
                  Mark
      A. Zorko

                

              
	 
      	
                Mark
      A. Zorko

              
	 
      	
                Chief
      Financial Officer

              
	 
      
	 
      
	
                CAPITAL
      ONE LEVERAGED FINANCE CORP.,

              
	
                formerly
      known as North Fork Business Capital Corp.

              
	
                By:

              	
                
                  /s/
      Robert R. Wallace

                

              
	 
      	
                Robert
      R. Wallace

              
	 
      	
                Vice
      President

              

      

      

       

      
        
          
          

        

        
          4

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