Document:

Exhibit 4.(c)

 

CORN PRODUCTS INTERNATIONAL, INC.

 

RETIREMENT SAVINGS PLAN

 

FOR MAPLETON HOURLY EMPLOYEES

 

Effective May 1, 2008

 

 

Table of Contents

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  Article 1
  Definitions

  	
  2

  
	
   

  	
   

  
	
  Article 2
  Eligibility And Participation

  	
  7

  
	
   

  	
   

  
	
  Article 3
  Participant Contributions and Deferred Contributions

  	
  8

  
	
   

  	
   

  
	
  Article 4
  Employer Contributions

  	
  11

  
	
   

  	
   

  
	
  Article 5
  Statutory Limitations on Benefits

  	
  12

  
	
   

  	
   

  
	
  Article 6
  Trust

  	
  21

  
	
   

  	
   

  
	
  Article 7
  Investment Elections and Allocations to Participants’ Accounts

  	
  22

  
	
   

  	
   

  
	
  Article 8
  Withdrawals and Loans

  	
  26

  
	
   

  	
   

  
	
  Article 9
  Distributions Upon Termination of Employment

  	
  33

  
	
   

  	
   

  
	
  Article 10
  Special Participation and Distribution Rules

  	
  36

  
	
   

  	
   

  
	
  Article 11
  Shareholder Rights with Respect to Company Stock

  	
  42

  
	
   

  	
   

  
	
  Article 12
  Administration

  	
  45

  
	
   

  	
   

  
	
  Article 13
  Participation in Plan by Affiliate

  	
  49

  
	
   

  	
   

  
	
  Article 14
  Amendment and Termination

  	
  50

  
	
   

  	
   

  
	
  Article 15
  Top-Heavy Provisions

  	
  51

  
	
   

  	
   

  
	
  Article 16 General Provisions

  	
  54

  

 

i

 

Introduction

 

Corn Products International, Inc. (the “Company”)
has adopted the Corn Products International, Inc. Retirement Savings Plan
for Mapleton Hourly Employees (the “Plan”) effective May 1, 2008 for the
benefit of certain eligible employees located at the Company’s Mapleton
facility.

 

The Plan is intended to qualify as a profit sharing
plan within the meaning of section 401(a) of the Internal Revenue Code of
1986, as amended (the “Code”), with a qualified cash or deferred arrangement
described in section 401(k) of the Code, and its related trust is intended
to be tax-exempt under section 501(a) of the Code.

 

1

 

Article 1

 

Definitions

 

The following words and phrases shall, for the purpose
of this Plan and any subsequent amendment thereof, have the following meanings,
unless a different meaning is plainly required by the context:

 

1.1           “Account”
means a Participant’s Account under the Plan, which is composed of the
Participant Contribution Account, Deferred Contribution Account, Matching Contribution
Account, Profit Sharing Account, Service Award Contribution Account and
Rollover Account, maintained for a Participant under the Plan to which are
credited the Participant’s share of contributions and earnings and debited the
withdrawals and losses thereon.

 

1.2           “Affiliate”
means (i) any corporation which is a member of a controlled group of
corporations (as defined in section 414(b) of the Code) which includes the
Company, (ii) any trade or business (whether or not incorporated) which is
under common control (as defined in section 414(c) of the Code) with the
Company, (iii) any organization (whether or not incorporated) which is a
member of an affiliated service group (as defined in section 414(m) of the
Code) which includes the Company; and (iv) any other entity required to be
aggregated with the Company pursuant to final regulations under section 414(o) of
the Code; provided, however, that such corporation, trade or
business, organization, or other entity shall be deemed to be an Affiliate only
during the period in which the particular relationship existed.

 

1.3           “Board of
Directors” means the Board of Directors of the Company, as
constituted from time to time.

 

1.4           “Break in
Service” means any period during which an Employee is not employed
by an Employer which is not included in a Period of Employment and which is in
excess of twelve months.

 

1.5           “Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

1.6           “Committee”
means the Committee appointed by the Company to administer the Plan, pursuant
to Article 12.

 

1.7           “Company”
means Corn Products International, Inc.

 

1.8           “Company Stock”
means common stock of the Company.

 

1.9           “Compensation”
means an Employee’s wages as identified under Box 1 of Form W-2 (but
determined without regard to rules that limit remuneration based on the
nature or location of the employment or the services performed), plus elective
contributions that are made by an Employer on behalf of the Employee that are
not includible in gross income under section 125, 132(f)(4) or 402(e)(3) of
the Code; but reduced by all of the following items, even if includible in
gross income: amounts received as long-term incentive bonuses, income
attributable to the exercise of stock options, reimbursements or 

 

2

 

other expense allowances (such as car allowances),
fringe benefits (cash and noncash), moving expenses, deferred compensation, and
welfare benefits.  For purposes of
determining Compensation earned for services performed outside the United
States, Compensation shall be imputed at a rate equal to the current base rate
of pay in effect for the Participant based on U.S. dollars and what would
otherwise be includible in Box 1 of Form W-2.

 

Notwithstanding the foregoing, an Employee’s
Compensation in a Plan Year in excess of (i) with respect to the 2008 Plan
Year, $230,000 and (ii) with respect to each subsequent Plan Year, the
amount prescribed by section 401(a)(17) of the Code, shall be disregarded for
all purposes under the Plan.

 

For purposes of applying the limitations described in Section 5.1
of the Plan, in the case of a Participant who terminates employment during the
Plan Year, Compensation shall include amounts paid after such Participant’s
termination of employment if such amounts (i) are paid by the later of 2 1⁄2
months after termination of employment and the end of the Plan Year that
includes the date of termination of employment and (ii) are payments of
regular compensation for services performed during the Participant’s regular
working hours or outside of such working hours (such as overtime), commissions,
bonuses, and other similar payments that would have been paid to the
Participant prior to a termination of employment if the Participant had
continued in employment with the Employer.

 

1.10         “Deferred
Contribution” means a contribution made by an Employer on behalf of
a Participant on a before-tax basis, as
described in Section 3.3.

 

1.11         “Deferred
Contribution Account” means the account maintained for a Participant
to which are allocated the Deferred
Contributions made on behalf of such Participant pursuant to Section 3.3
on a before-tax basis, plus earnings and net of any withdrawals or losses.

 

1.12         “Disabled
Participant” means a Participant who is entitled to receive
long-term disability benefits under a
long-term disability plan maintained by an Employer.

 

1.13         “Effective Date”
means May 1, 2008 (the effective date of this amendment and
restatement).  Unless expressly provided
to the contrary, the new Effective Date set forth herein shall not affect the
prior effectiveness of any provisions of the Plan as set forth in the prior
version of the Plan.

 

1.14         “Eligible
Employee” means each Employee of the Company at the Company’s
Mapleton Facility who is covered by the collective bargaining agreement between
the Company and the Paper, Allied Industrial, Chemical and Energy International
Union, Local 6-0507 and International Association of Machinists District No. 8.

 

1.15         “Employee”
means each individual whose relationship with an Employer is, under common law,
that of an employee.  Notwithstanding the
foregoing, the term “Employee” shall exclude any individual retained by an
Employer to perform services for such Employer (for either a definite or
indefinite duration) and is characterized thereby as a fee-for-service worker
or independent contractor or in a similar capacity (rather than in the capacity
of an employee), regardless of such individual’s status under common law or for
purposes of federal, state or local tax withholding, employment tax or
employment law.

 

3

 

1.16         “Employer”
means the Company and any other Affiliate which, with the consent of the
Company, elects to participate in this Plan pursuant to Section 13.1.

 

1.17         “Employer
Contribution” means a contribution made by an Employer, other than a
Deferred Contribution, to a Participant’s Account pursuant to the terms of the
Plan as in effect at the applicable time.

 

1.18         “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time
to time.

 

1.19         “Hour of
Employment” means each hour for which an Employee is directly or
indirectly compensated by, or entitled to receive compensation from, an
Employer including hours for any period during which he or she receives
compensation without rendering services such as paid holidays, vacations, sick
leave, disability leave, layoff, jury duty, or leave of absence.  For purposes of the preceding sentence, “compensation”
shall include any back pay, irrespective of mitigation of damages, either
awarded to the Employee or agreed to by an Employer.  In addition, an Employee shall be credited
with the number of Hours of Employment that the Committee determines he or she
would have completed during any period of qualified military service but for
such qualified military service, provided that such Employee returns to active
employment with his or her Employer within the period prescribed by
USERRA.  The computation of Hours of
Employment and the period to which Hours of Employment are to be credited shall
be determined under uniform rules adopted by the Committee in accordance
with Department of Labor Regulations section 2530.200b-2(b), (c) and (f).

 

1.20         “Matching
Contribution” means a contribution made by an Employer on behalf of
a Participant as provided in Section 4.1.

 

1.21         “Matching
Contribution Account” means the account maintained for a Participant
to which are allocated the Matching Contributions, if any, made on such
Participant’s behalf, plus earnings and net of any withdrawals or losses.

 

1.22         “Participant”
means an Eligible Employee who satisfies the requirements for participation
pursuant to Article 2.

 

1.23         “Participant
Contribution” means a contribution made by a Participant on an
after-tax basis, as described in Section 3.1.

 

1.24         “Participant
Contribution Account” means the account maintained for a Participant
to which are credited the Participant Contributions made by such Participant,
plus earnings and net of any withdrawals or losses.

 

1.25         “Period of
Employment” means each period of time during which an Employee is
employed by an Employer.  An Employee’s
employment shall not be terminated by reason of a leave of absence from active
employment granted by his Employer, pursuant to a policy uniformly applied in
all similar circumstances, because of (a) military service, attendance at
a school or training program at the request of his Employer, government service
in a civilian capacity, jury duty, or layoff; or (b) because of
disability, provided that if he does not return to active employment with an
Employer before the later of (i) the time specified in his leave, or if 

 

4

 

not specified therein, three years from the inception
thereof, or (ii) cessation of his disability, as the case may be, his
employment shall be considered terminated as of the earlier of twelve months
after the last day of the month in which such leave began and the last day of
the month in which such leave of absence terminated.

 

Maternity or paternity leave shall be deemed to be a
Period of Employment where necessary to prevent a Break in Service, either in
the Plan Year such leave is begun or the following Plan Year.

 

An Employee’s absence from Service because of military
service shall be considered a leave of absence granted by his Employer and
notwithstanding any provision of the first paragraph of this subsection shall
not terminate his employment if he returns to active employment with an
Employer within thirty days following the period of time during which he has
reemployment rights under any applicable federal law.

 

1.26         “Plan”
means the plan as set forth herein and as it may be amended from time to time.

 

1.27         “Plan
Administrator” means the person appointed by the Committee pursuant
to Section 12.4 to fulfill the responsibilities relating to the
administration of the Plan specified therein.

 

1.28         “Plan Year”
means the 12-month period ending on each December 31.

 

1.29         “Profit Sharing
Account” means the account maintained for a Participant to which are
allocated the Profit Sharing Contributions made on behalf of such Participant
pursuant to Section 4.2 plus earnings and net of any withdrawals or
losses.

 

1.30         “Profit Sharing
Contribution” means a contribution made by an Employer on behalf of
a Participant as provided in Section 4.2.

 

1.31         Qualified Reservist. 
An individual who is (i) a member of a reserve component (as
defined in 37 U.S.C. § 101) and (ii) ordered or called to active duty, for
a period in excess of 179 days or for an indefinite period, after September 11,
2001 and before December 31, 2007.

 

1.32         “Rollover
Account” means the account maintained for a Participant to which are
allocated the rollover contributions made by the Participant pursuant to Section 10.1,
plus earnings and net of any withdrawals or losses.

 

1.33         “Service”
means, if required by the terms of this Plan or by operation of law to
determine participation or vesting of an Employee, the total of his Periods of
Employment by an Employer.  Service shall
be computed in terms of completed years and completed days (with 365 days being
equal to one year).  Any Break in Service
of twelve months or less shall be included in an Employee’s Service.

 

1.34         “Service Award
Contribution” means a contribution made by an Employer on behalf of
a Participant as provided in Section 4.3.

 

5

 

1.35         “Service Award
Contribution Account” means the account maintained for a Participant
to which are allocated the Service Award Contributions, if any, made on behalf
of such Participant pursuant to Section 4.3 plus earnings and net of any
withdrawals or losses.

 

1.36         “Trust Agreement”
means the trust agreement as amended from time to time, between the Company
(acting on behalf of the Employers) and the Trustee or Trustees, established
for the purpose of funding the benefits under this Plan.

 

1.37         “Trust Fund”
means all such money or other property which shall be held by the Trustee
pursuant to the terms of the Trust Agreement.

 

1.38         “Trustee”
means the trustee or trustees acting as such under the Trust Agreement,
including any successor or successors.

 

1.39         “USERRA” means the Uniformed Services Employment
and Reemployment Rights Act of 1994, as amended.

 

1.40         “Valuation Date”
means any date on which the New York Stock Exchange is open for trading.

 

6

 

Article 2

 

Eligibility And
Participation

 

2.1           Eligibility to
Become a Participant.  An Eligible
Employee shall be eligible to become a Participant as of his first day of
employment at the Company’s Mapleton Facility.

 

2.2           Election to
Commence Participation.  Each Eligible
Employee is required to make an election to participate prior to his
commencement of participation in the Plan (other than for purposes of the
Profit Sharing Contributions described in Section 4.2).  An Eligible Employee’s election to commence
participation in the Plan shall become effective on the first day of the first
calendar month coincident with or next following the date he has satisfied the
eligibility requirements set forth in Section 2.1.  If an Eligible Employee does not properly
elect to commence participation as of such date, he may commence his
participation on the first day of any subsequent month.

 

2.3           Cessation of
Participation.  An Eligible Employee who becomes a
Participant shall remain a Participant until his entire Account balance is
distributed to him.

 

2.4           Leased Employees. 
If an individual who performed services as a leased employee (within the
meaning of section 414(n)(2) of the Code) of an Employer or an Affiliate
becomes an Employee, or if an Employee becomes such a leased employee, then any
period during which such services were so performed shall be taken into account
solely for the purposes of (i) determining whether and when such
individual is eligible to participate in the Plan under this Article 2, (ii) measuring
such individual’s years of Service, and (iii) determining when such
individual has retired or otherwise terminated his or her employment for purposes
of Article 9 to the same extent it would have been had such service been
as an Employee.  This Section shall
not apply to any period of service during which such a leased employee was
covered by a plan described in section 414(n)(5) of the Code.

 

7

 

Article 3

 

Participant Contributions
and Deferred Contributions

 

3.1           Participant
Contributions.

 

(a)           Subject to the limitations prescribed in Article 5,
an Eligible Employee may elect to make Participant Contributions under the Plan
on an after-tax basis.  Any such election
shall be made in the manner prescribed by the Plan Administrator.  Such election shall be effective beginning on
the first day of the payroll period which is at least one day following receipt
by the Plan Administrator of the Participant’s election or as soon as
administratively possible.  The Eligible
Employee’s election shall authorize such individual’s Employer to deduct
Participant Contributions through regular payroll deductions in the amount
specified by the Participant according to the provisions of subsection
(b).  An Eligible Employee who is not
otherwise a Participant in the Plan shall become a Participant upon making an
election to make Participant Contributions as described herein.  No contributions shall be made by a
Participant subsequent to the Valuation Date coincident with or immediately
preceding the date of his termination of employment.

 

(b)           A Participant’s Participant Contributions shall be
designated by the Participant as a whole percentage not less than 1% nor more
than 25% of his Compensation per pay period. 
Participant Contributions shall be effected by payroll deductions made
each pay period, on an after-tax basis. 
In no event shall the total of Participant Contributions under this Section 3.1
and Deferred Contributions under Section 3.3 be more than 25% of the
Participant’s Compensation during any period in which contributions are made.

 

3.2           Changes in and
Terminations of Participant Contributions.  The
contributions referred to in Section 3.1 shall be entirely voluntary on
the part of a Participant.  A Participant
may revoke his election to contribute at any time or he may change the rate of
his contributions within the percentage limits permitted under Section 3.1
at any time by notifying the Plan Administrator in the manner specified by the
Plan Administrator.  A change in the rate
of contributions or revocation of an election to contribute becomes effective
on the first day of the payroll period which is at least one day following the
date on which the Plan Administrator has received notification of such change
or as soon as administratively possible. 
Participant Contributions shall be suspended during any approved unpaid
leave of absence or any other period which is included in determining Hours of
Employment under Section 1.20 and for which a Participant does not receive
Compensation, other than a leave which has a duration of less than one full
payroll period.  Such Participant may
contribute under Section 3.1 as soon as administratively possible
following the date on which he resumes receiving Compensation.

 

3.3           Deferred
Contributions.

 

(a)           An Eligible Employee may elect, in the same manner and
within the same time periods set forth in Section 3.1 to have his Employer
contribute Deferred Contributions on his behalf.

 

8

 

(b)           Subject to the limitations prescribed in Section 3.5
and Article 5, each Employer shall contribute for each pay period on
behalf of each of its Participants who has made an election to have Deferred
Contributions made on his behalf a whole percentage not less than 1% nor more
than 25% of the Participant’s Compensation per pay period, as designated in
such election.  The amount of
Compensation otherwise payable for the period for which each such contribution
is made shall be reduced by the amount of such contribution by means of a
payroll deduction each pay period.  In no
event shall the total of Participant Contributions under Section 3.1 and
Deferred Contributions under this Section 3.3 be more than 25% of the
Participant’s Compensation during any period in which such contributions are
made.

 

(c)           Catch-up Contributions. 
Each Participant who pursuant to Section 3.3(a) is eligible to
make Deferred Contributions for a payroll period and who shall attain age 50
before the close of such Plan Year shall be eligible to have Deferred
Contributions made in addition to those described in Section 3.3(a) (“additional
Deferred Contributions”) if no other Deferred Contributions to be made pursuant
to subsection (a) of this Section may be made to the Plan for such
payroll period by reason of the limitations of Section 3.5 or any
comparable limitation or, if the Committee shall so determine, the 25%
restriction contained in Section 3.3(a) of the Plan.  Such additional Deferred Contributions shall
be elected, made, suspended, resumed and credited in a manner similar to that
described in Sections 3.3(a) and 3.3(b) and in accordance with and
subject to such additional rules and limitations of section 414(v) of
the Code and otherwise as the Committee determines.  To the extent such additional Deferred
Contributions are not “catch-up contributions” as defined for purposes of
section 414(v) of the Code, they shall be taken into account, and to the
extent such additional Deferred Contributions are catch-up contributions they
shall not be taken into account, for purposes of Section 3.5 or other
provisions of the Plan implementing the required limitations of sections
401(k)(3), 401(k)(11), 401(k)(12), 402(g), 404, 410(b), 415 or 416 of the Code,
as applicable.

 

3.4           Changes in and Terminations
of Deferred Contributions.  Changes in
and termination of Deferred Contributions shall be made at the same time and in
the same manner and subject to the same limitations as prescribed for
Participant Contributions in Section 3.2.

 

3.5           Annual Limit on
Deferred Contributions.

 

(a)           Notwithstanding the provisions of Section 3.3, a
Participant’s Deferred Contributions made pursuant to such Section for any
calendar year shall not exceed the dollar limit prescribed by section 402(g) of
the Code (as adjusted for cost-of-living increases in accordance with section
402(g)(5) of the Code) for such calendar year, except to the extent set
forth in Section 3.3(c) and section 414(v) of the Code with
respect to “catch-up” contributions made pursuant to Section 3.3(c) and
section 414(v) of the Code.

 

(b)           Except to the extent set forth in Section 3.3(c) and
section 414(v) of the Code with respect to catch-up contributions
described in Section 3.3(c), if for any calendar year the Deferred
Contributions to this Plan or the aggregate of Deferred Contributions to this
Plan plus amounts contributed under other plans or arrangements described in
sections 

 

9

 

401(k), 403(b),
408(k) or 408(p) of the Code will exceed the limit imposed by
subsection (a) of this Section for the calendar year in which such
contributions were made (“excess deferred contributions”), such excess deferred
contributions plus any income and minus any loss allocable thereto shall be
recharacterized as Participant Contributions made pursuant to Section 3.1(a).  The amount of any income or loss allocable to
such excess Deferred Contributions shall be determined pursuant to Treasury
Regulation section 1.401(k)-1(f)(4)(ii)(C) and (D).  Notwithstanding the provisions of this
paragraph, any such excess deferred contributions that are distributed in
accordance with Regulation section 1.402(g)-1(e)(2) or (3) shall not
be treated as “annual additions” for purposes of Section 5.1.

 

10

 

Article 4

 

Employer Contributions

 

4.1           Matching
Contributions.  For each payroll period during a Plan Year an
Employer shall contribute to the Plan on behalf of each Participant employed by
such Employer (other than a Participant subject to the suspension described in Section 8.1(a))
100% of the Deferred Contributions or Participant Contributions made by and on
behalf of the Participant that together do not exceed 6% of such Participant’s
Compensation for such payroll period during a Plan Year.  Any contribution made pursuant to this Section shall
be referred to hereinafter as a “Matching Contribution.”  Notwithstanding anything herein to the
contrary, no Participant shall be eligible to receive any Matching
Contributions with respect to any portion of such Participant’s Catch-Up
Contributions made pursuant to Section 3.3(c).

 

4.2           Profit Sharing
Contributions.  In addition, each Employer shall contribute
to the Plan on behalf of its Eligible Employees, an amount equal to 1% of the
aggregate Compensation for such Plan Year of all Eligible Employees who satisfy
the eligibility requirements for an allocation of contributions hereunder for
such Plan Year, as described in Section 7.2(d). Any contribution made
pursuant to this Section shall be referred to hereinafter as a “Profit
Sharing Contribution.”  An Eligible
Employee who is not otherwise a Participant in the Plan shall become a
Participant upon receiving an allocation of Profit Sharing Contributions as
described herein.

 

4.3           Service Award
Contributions.  For each Plan Year, the Company shall make a
contribution, as specified below, on behalf of each of its Participants who, in
such Plan Year, has completed the number of years of Service specified below.  Such contributions shall be made at any time
during or after the end of such Plan Year but in no event later than the due
date of the Employer’s federal income tax return for the tax year in which such
Plan Year ends:

 

	
  Years
  of Service

  	
   

  	
  Amount of Cash Contribution

  
	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  5 times the Employer
  Average Stock Trading Price 

  
	
  10

  	
   

  	
  10 times the Employer
  Average Stock Trading Price 

  
	
  15

  	
   

  	
  15 times the Employer
  Average Stock Trading Price 

  
	
  20

  	
   

  	
  20 times the Employer
  Average Stock Trading Price 

  
	
  25

  	
   

  	
  25 times the Employer
  Average Stock Trading Price 

  
	
  30

  	
   

  	
  30 times the Employer
  Average Stock Trading Price

  

 

For each additional 5 years of Service, the
Participant shall receive an additional 5 times the Employer Average Stock
Trading Price.

 

For purposes of the foregoing, the “Employer Average
Stock Trading Price” shall mean the average of the high and low transaction
prices (as reported in the New York Stock Exchange-Composite Transactions) in
trading of Company Stock on the “Service Award Calculation Date,” or if such
day is not a trading day, the trading day next following such date.  The “Service Award Calculation Date” shall
mean the first day of the month in which a Participant completes the number of
years of Service required to receive a Service Award Contribution.

 

11

 

Article 5

 

Statutory Limitations on
Benefits

 

5.1           Maximum Annual
Additions Under Section 415 of the Code. 
Notwithstanding any other provision of the Plan, the amounts allocated
to each Participant’s Account for any Plan Year shall be limited so that the
aggregate annual additions for such Plan Year to the Participant’s Account in
this Plan and in all other defined contribution plans in which he is a
participant shall not exceed the lesser of:

 

(I)            $40,000 (as adjusted for increases in the
cost-of-living pursuant to section 415(d) of the Code) and

 

(II)           100% of the Participant’s compensation
(as defined below).

 

If as a result of a reasonable error in estimating a
Participant’s annual compensation, a reasonable error in determining the amount
of elective deferrals that may be made by a Participant under section 415 of
the Code or under other limited facts and circumstances as determined by the
Commissioner of Internal Revenue, the annual additions to a Participant’s
Account exceeds the limitations set forth above for any Plan Year, the amounts
that would otherwise be allocated to such Participant’s Account for such Plan
Year under any other defined contribution plans maintained by an Employer shall
be reduced until the amount to be allocated to the Participant’s Account under
the Plan is not so limited or until the amounts allocated under all such other
plans have been reduced to zero, whichever occurs first. If after such
reduction has been made the amount to be allocated to a Participant’s Account
under the Plan for such year would exceed the limitations set forth in this
Section, then the excess allocations shall be corrected in accordance with the
Employee Plans Compliance Resolution System of the Internal Revenue Service.  Such excess allocations shall be deemed:

 

(a)           first, Participant Contributions and corresponding
Matching Contributions (if any), plus earnings on such contributions; and

 

(b)           second, Deferred Contributions and corresponding
Matching Contributions (if any) plus earnings on such contributions.

 

Any Matching Contributions reduced pursuant to subparagraphs(a) and
(b) above in which a Participant is not vested shall be forfeited.

 

The “annual additions” for a Plan Year to a
Participant’s Account in this Plan and in any other defined contribution plan
is the sum during such Plan Year of—

 

(i)            the amount of Employer contributions allocated to such
Participant’s accounts, excluding, however, any Deferred Contributions that are
“catch-up” contributions made pursuant to Section 3.3(c) and section
414(v) of the Code.

 

(ii)           the amount of forfeitures allocated to such
Participant’s accounts,

 

12

 

(iii)          the amount allocated to any individual medical benefit
account (as defined in section 415(1) of the Code) maintained on behalf of
the Participant, the amount attributable to medical benefits allocated to a
post-retirement medical account (as described in section 419(A)(d)(2) of
the Code) and mandatory employee contributions (as defined in section 411(c)(2)(C) of
the Code) to a defined benefit plan, regardless of whether such plan is subject
to the requirements of section 411 of the Code, and

 

(iv)          the amount of contributions by the Participant to such
Plan but excluding any rollover contribution made to such Plan.

 

For purposes of this Section, the “limitation year”
shall be the Plan Year, the terms “compensation,” “defined contribution plan,”
and “year of service” shall have the meanings set forth in section 415 of the
Code and the Regulations promulgated thereunder, and a Participant’s Employer
shall include entities that are members of the same controlled group (within
the meaning of section 414(b) of the Code as modified by section 415(h) of
the Code) or affiliated service group (within the meaning of section 414(m) of
the Code) as his Employer or under common control (within the meaning of
section 414(c) of the Code as modified by section 415(h) of the Code)
with his Employer or such entities.

 

5.2           Limitations on
Contributions for Highly Compensated Employees.

 

(a)           Actual Deferral Percentage Test Imposed
by Section 401(k)(3) of the Code. 
Notwithstanding the provisions of Section 3.3, and except as
provided in section 414(v) of the Code, if the Deferred Contributions made
pursuant to such Section for a Plan Year fail to satisfy both of the tests
set forth in paragraphs (1) and (2) of this subsection, the
adjustments prescribed in paragraph (1) of subsection (d) of this Section shall
be made.  Any Deferred Contributions
which are “catch-up contributions” described in Section 3.3(c) shall
not be considered as Deferred Contributions for purposes of determining whether
the tests set forth in such paragraphs (1) and (2) of this subsection
are satisfied or for purposes of making any adjustments prescribed in Section 5.2(d)(1).

 

(1)           The HCE average deferral percentage does
not exceed the product of the NHCE average deferral percentage multiplied by
1.25.

 

(2)           The HCE average deferral percentage (i) does
not exceed the NHCE average deferral percentage by more than two percentage
points, and (ii) does not exceed two times the NHCE average deferral
percentage.

 

The Committee may elect for any Plan Year to exclude from
consideration, for purposes of the actual deferral percentage tests, any
Eligible Employee who is not a highly compensated employee and who has either (i) not
attained the age of 21 or (ii) not completed a year of Service provided, however,
that the group of such excluded Eligible 

 

13

 

Employees separately satisfies the minimum coverage test of Section 410(b) of
the Code.

 

(b)           Actual Contribution Percentage Test
Imposed by Section 401(m) of the Code. 
Notwithstanding the provisions of Sections 3.1 and 4.1, if the aggregate
of the Participant Contributions and Matching Contributions pursuant to
Sections 3.1 and 4.1, respectively, fail to satisfy both of the tests set forth
in paragraphs (1) and (2) of this subsection, the adjustments
prescribed in paragraph (2) of subsection (d) of this Section shall
be made.

 

(1)           The HCE average contribution percentage
does not exceed the product of the NHCE average contribution percentage
multiplied by 1.25.

 

(2)           The HCE average contribution percentage (i) does
not exceed the NHCE average contribution percentage by more than two percentage
points, and (ii) does not exceed two times the NHCE average contribution
percentage.

 

The Committee may elect for any Plan Year to exclude from
consideration, for purposes of the actual contribution percentage tests, any
Eligible Employee who is not a highly compensated employee and who has either (i) not
attained the age of 21 or (ii) not completed a year of Service, provided, however,
that the group of such excluded Eligible Employees separately satisfies the
minimum coverage test of Section 410(b) of the Code.

 

(c)           Definitions and Special Rules. 
For purposes of this Section, the following definitions and special rules shall
apply:

 

(1)           The “actual deferral percentage test”
refers collectively to the tests set forth in paragraphs (1) and (2) of
subsection (a) of this Section relating to Deferred
Contributions.  The actual deferral
percentage test shall be satisfied if either of such tests are satisfied.

 

(2)           The “HCE average deferral percentage” for
a Plan Year is a percentage determined for the group of Eligible Employees who
are eligible to make Deferred Contributions for such Plan Year and who are
highly compensated employees for such Plan Year.  Such percentage shall be equal to the average
of the individual ADR’s for each such Eligible Employee for such Plan Year.

 

(3)           The “NHCE average deferral percentage”
for a Plan Year is a percentage determined for the group of Eligible Employees
who were eligible to make Deferred Contributions for the prior Plan Year and
who were not 

 

14

 

highly compensated
employees for such prior Plan Year.  Such
percentage shall be equal to the average of the individual ADR’s for each such
Eligible Employee for the prior Plan Year.

 

(4)           The “actual contribution percentage test”
refers collectively to the tests set forth in paragraphs (1) and (2) of
subsection (b) of this Section relating to Participant Contributions
and Matching Contributions.  The actual
contribution percentage test shall be satisfied if either of such tests are
satisfied.

 

(5)           The “HCE average contribution percentage”
for a Plan Year is a percentage determined for the group of Eligible Employees
who are eligible to make Participant Contributions for such Plan Year, or are
eligible to make Deferred Contributions and share in an allocation of
corresponding Matching Contributions (if any) for such Plan Year, and who are
highly compensated employees for such Plan Year.  Such percentage shall be equal to the average
of the ratios, calculated separately for each such Employee to the nearest
one-hundredth of one percent, of the sum of the Participant Contributions made
by such Eligible Employee for such Plan Year (if any) and the Matching
Contributions made for the benefit of such Eligible Employee (if any) for such
Plan Year and, in the Committee’s sole discretion, to the extent permitted by
Regulations, some or all of the Deferred Contributions made during such Plan
Year for the benefit of such Eligible Employee (if any), to the total compensation
for such Plan Year paid to such Eligible Employee.

 

(6)           The “NHCE average contribution percentage”
for a Plan Year is a percentage determined for the group of Eligible Employees
who were eligible to make Participant Contributions for the prior Plan Year, or
were eligible to make Deferred Contributions and share in an allocation of
corresponding Matching Contributions (if any) for the prior Plan Year, and who
were not highly compensated employees for such prior Plan Year.  Such percentage shall be equal to the average
of the ratios, calculated separately for each such Eligible Employee to the
nearest one-hundredth of one percent, of the sum of the Participant
Contributions made by such Eligible Employee for such Plan Year (if any) and
the Matching Contributions made for the benefit of such Eligible Employee for
such Plan Year (if any) and, in the Committee’s sole discretion, to the 

 

15

 

extent permitted
by Regulations, some or all of the Deferred Contributions made during such Plan
Year for the benefit of such Eligible Employee (if any), to the total
compensation for such Plan Year paid to such Eligible Employee.

 

(7)           A “highly compensated employee” is, for a
Plan Year, any Employee who is (a) a 5%-owner (as determined under section
416(i) of the Code) at any time during the Plan Year or the preceding Plan
Year or (b) is paid compensation in excess of $105,000 (as adjusted for
increases in the cost of living in accordance with section 414(q)(l)(B)(ii) of
the Code) from an Employer for the prior Plan Year.  If the Committee so elects for a Plan Year,
the Employees taken into account under clause (b) above shall be limited
to those Employees who were members of the “top-paid group” (as defined in
section 414(q)(3) of the Code) for the preceding Plan Year.  Any such election shall be included in the
written records of the Committee.

 

(8)           The term “compensation” shall have the
meaning set forth in section 414(s) of the Code; provided, however,
with respect to a nonresident alien who is not a Participant in the Plan,
compensation shall not include any amounts paid to such nonresident alien which
are (i) excludable from gross income and (ii) not effectively
connected with the conduct of a trade or business within the United States.

 

(9)           If the Plan and one or more other plans
of the Employer to which elective deferrals or qualified nonelective
contributions (as such term is defined in section 401(m)(4)(C) of the
Code) are made are treated as one plan for purposes of section 410(b) of
the Code, such plans shall be treated as one plan for purposes of this Section.

 

(10)         ADR (average deferral ratio) shall mean
the ratio calculated to the nearest one-hundredth of one percent, of the
Deferred Contributions for the benefit of each Eligible Employee for a Plan
Year (if any) to the total compensation for such Plan Year paid to such
Employee.

 

(11)         ACR (actual contribution ratio) shall
mean the ratio, calculated to the nearest one-hundredth of one percent, of the
sum of the Participant Contributions and the Matching Contributions made by or
on behalf of each Eligible Employee for a Plan Year (if any) to the total
compensation of such Plan Year paid to such Employee.

 

16

 

(d)                                 Adjustments to
Comply with Limits.  This subsection sets forth the
adjustments and correction methods which shall be used to comply with the
actual deferral percentage test under section 401(k)(3) of the Code, and
the actual contribution percentage test under section 401(m) of the Code.

 

(1)                                  Adjustments to
Comply with Actual Deferral Percentage Test.  (A) 
Adjustment to Deferred Contributions of Highly
Compensated Employees.  The
Company shall cause to be made such periodic computations as it shall deem
necessary or appropriate to determine whether the actual deferral percentage
test is satisfied during a Plan Year, and, if it appears to the Company that
such test will not be satisfied, the Company shall take such steps as it deems
necessary or appropriate to adjust, limit or restrict the Deferred
Contributions made pursuant to Section 3.3 for all or a portion of such
Plan Year on behalf of some or all of the Participants who are highly
compensated employees to the extent necessary in order for the actual deferral
percentage test to be satisfied for the Plan Year.  If, as of the end of the Plan Year, the
Committee determines that, notwithstanding any adjustments made pursuant to the
preceding sentence, neither of the tests set forth in paragraph (1) or (2) of
subsection (a) of this Section was satisfied, the Committee shall
calculate a total amount by which Deferred Contributions must be reduced in
order to satisfy either such test, in the manner prescribed by section
401(k)(8)(B) of the Code (the “excess contributions amount”).  The amount to be returned to each Participant
who is a highly compensated employee shall be determined by first reducing the
Deferred Contributions of each Participant whose actual dollar amount of
Deferred Contributions for such Plan Year is highest until such reduced dollar
amount equals the next highest actual dollar amount of Deferred Contributions
made for such Plan Year on behalf of any highly compensated employee, or until
the total reduction equals the excess contributions amount.  If further reductions are necessary, then
such Deferred Contributions on behalf of each Participant who is a highly
compensated employee and whose actual dollar amount of Deferred Contributions
made for such Plan Year is the highest (determined after the reduction
described in the preceding sentence) shall be reduced in accordance with the
preceding sentence.  Such reductions
shall continue to be made to the extent necessary so that the total reduction
equals the excess contributions amount.

 

(B)                                Corrective
Distributions.  No later than 21/2 months after
the end of the Plan Year (or if correction by such date is administratively
impracticable, no later than the last day of the subsequent Plan Year), the
Company shall cause to be distributed to each affected Participant the amount
of Deferred Contributions to be returned to such Participant pursuant to
subparagraph (1)(A) above, plus any income and minus any loss allocable
thereto through the end of such Plan Year, and any corresponding matching
contributions related thereto, plus any income and minus 

 

17

 

any loss allocable thereto, shall be forfeited.  The amount of any income or loss allocable to
any such reductions to be so distributed or forfeited shall be determined
pursuant to applicable Regulations.  The
amount of Deferred Contributions to be distributed to a Member hereunder shall
be reduced by any excess Deferred Contributions previously distributed to such
Member pursuant to Section 3.5 in order to comply with the limitations of
section 402(g) of the Code.  The
unadjusted amount of any such reductions so distributed shall be treated as “annual
additions” for purposes of Section 5.1 relating to the limitations under
section 415 of the Code.

 

(C)                                Recharacterization. 
In lieu of distributing excess Deferred Contributions, plus any income
and minus any losses allocable thereto, pursuant to subparagraphs (1)(A) and
(B) above, the Committee may, in its sole discretion, treat such excess
amounts with respect to all Participants as amounts distributed to such
Participants and then contributed by such Participants to the Plan as
Participant Contributions. Any amounts may not be so recharacterized as
Participant Contributions on behalf of any Participant to the extent that such
amount in combination with other Participant Contributions made by the
Participant would exceed any stated limit under the Plan on Participant
Contributions.   Any such
recharacterization must occur no later than 2 1/2 months after
the last day of the Plan Year in which such excess Deferred Contributions arose
and is deemed to occur on the date that the Participant is informed in writing
of the amount recharacterized and the consequences thereof.  Recharacterized amounts will be taxable to
the Participant for the Participant’s tax year in which the Participant would
have received them in cash if not for the Participant’s election under Section 3.3.

 

(2)                                  Adjustments to
Comply with the Actual Contribution Percentage Test.  (A) 
Adjustment to Participant Contributions and Matching
Contributions of Highly Compensated Employees.  If, as of the end of the Plan Year, after
taking into account the forfeiture of Matching Contributions made on behalf of
highly compensated employees pursuant to subparagraph (1)(B) above, the
Committee determines that the actual contribution percentage test was not
satisfied, the Committee shall calculate a total amount by which Participant
Contributions made pursuant to Section 3.1 and Matching Contributions made
pursuant to Section 4.1 must be reduced in order to satisfy such test, in
the manner prescribed by section 401(m)(6)(B) of the Code (the “excess
aggregate contributions amount”).  The
amount to be reduced with respect to each Participant who is a highly compensated
employee shall be determined by first reducing the Participant Contributions 

 

18

 

and Matching Contributions for each Participant whose
actual dollar amount of Participant Contributions and Matching Contributions
for such Plan Year is highest until the such reduced dollar amount equals the
next highest actual dollar amount of Participant Contributions and Matching
Contributions made for such Plan Year on behalf of any highly compensated
employee, or until the total reduction equals the excess aggregate
contributions amount.  If further
reductions are necessary, then such Participant Contributions and Matching
Contributions on behalf of each Participant who is a highly compensated
employee and whose actual dollar amount of Participant Contributions and
Matching Contributions made for such Plan Year is the highest (determined after
the reduction described in the preceding sentence) shall be reduced in
accordance with the preceding sentence. 
Such reductions shall continue to be made to the extent necessary so
that the total reduction equals the excess aggregate contributions amount.  Any reduction prescribed by this subparagraph
shall be applied to a Participant’s Participant Contributions first, and shall
be applied to his or her Matching Contributions only after reduction of his or
her Participant Contributions for such Plan Year to zero.

 

(B)                                Corrective
Distributions.  With respect to the Participant Contributions
and, if applicable, Matching Contributions to be reduced on behalf of
Participants who are highly compensated employees as described in subparagraph
(2)(A) above, the Company shall, no later than 21/2 months after the end of the Plan Year,
distribute the portion of such Participant Contributions, and if applicable,
Matching Contributions, plus any income and minus any loss allocable thereto
through the end of such Plan Year in which the Participant would be vested if
he had terminated employment on the last day of the Plan Year for which such contributions
were made (or earlier if any such Participant actually terminated service at
any earlier date), and the portion of such Matching Contributions in which the
Participant would not be vested plus any income and minus any losses applicable
thereto shall be forfeited. The amount of any income or loss allocable to any
such reductions to be so distributed or forfeited shall be determined pursuant
to applicable Regulations.  The
unadjusted amount of any such reductions so distributed shall be treated as “annual
additions” for purposes of Section 5.1 relating to the limitations under
section 415 of the Code.

 

(e)                                  Designation of
Qualified Nonelective Contributions.  Each Plan
Year, the Company may, to the extent permitted by the Secretary of the Treasury,
designate an amount of any Employer contributions allocated to Participant
accounts on behalf of any group of Participants who are not highly compensated
employees to be treated as “qualified nonelective contributions” within the
meaning of section 401(m)(4)(C) of the Code for 

 

19

 

purposes of applying the
actual deferral percentage test and the actual contribution percentage
test.  Any such Employer contributions
designated as qualified nonelective contributions and earnings related thereto
shall be accounted for separately by the Trustee and shall be distributable
pursuant to the provisions of the Plan concerning distributions of Deferred
Contributions (but no earlier than the Participant’s separation from service or
death).

 

5.3                                 Limitation on
Contributions.

 

(a)                                  Deductibility. 
Notwithstanding anything contained in the Plan to the contrary,
contributions made to the Plan under Section 3.3 and Article 4 for
any Plan Year shall not exceed the maximum amount for which a deduction is
allowable to such Employer for federal income tax purposes on account of such
contributions for the fiscal year of the Employer which ends with or within a
Plan Year.  Any contribution which is
determined by the Internal Revenue Service to be nondeductible by an Employer
shall be returned to such Employer within one year following the date on which
such deduction is disallowed.

 

(b)                                 Mistake of Fact. 
Any contribution made by an Employer by reason of a good faith mistake
of fact shall, upon the request of such Employer, be returned by the Trustee to
such Employer.  The Employer’s request
and the return of any such contribution must be made within one year after such
contribution was mistakenly made.  The
amount to be returned to the Employer pursuant to this paragraph shall be the
excess of the amount contributed over the amount which would have been
contributed had there not been a mistake of fact.  If the return to the Employer of the amount
attributable to the mistaken contribution would cause the amount credited to
any Participant’s Account as of the date such amount is to be returned (as if
such date were a Valuation Date) to be reduced to less than what would have
been the amount credited to such Account as of such date had the mistaken
amount not been contributed, the amount to be returned to the Employer shall be
limited so as to avoid such a reduction.

 

20

 

Article 6

 

Trust

 

A Trust shall be created by the execution of a Trust
Agreement between the Company (acting on behalf of the Employers) and the
Trustee.  All contributions under the
Plan shall be made to the Trustee.  The
Trustee shall hold all property received by it and invest the income and
allocate the losses from all property held by it on behalf of the Participants
collectively in accordance with the provisions of the Plan and the Trust
Agreement.  The Trustee shall make
distributions from the Trust Fund at such time or times to such person or
persons (or such qualified plans or individual retirement accounts) and in such
amounts as the Committee shall direct in accordance with the Plan.

 

21

 

Article 7

 

Investment Elections and Allocations to Participants’
Accounts

 

7.1                                 Separate
Accounts and Investment Elections.

 

(a)                                  Accounts. 
The Committee shall establish and maintain, or cause the Trustee or such
other agent as the Committee may select to establish and maintain, a separate
Account for each Participant.  Such
Accounts shall be solely for accounting purposes and no segregation of assets
of the Trust among the separate Accounts shall be required.  Each Account shall consist of (a) if a
Participant is making or has made Participant Contributions, a Participant
Contribution Account, (b) if Deferred Contributions are being made or have
been made for a Participant, a Deferred Contribution Account, (c) if
Matching Contributions are being made or have been made for a Participant, a
Matching Contribution Account, (d) a Profit Sharing Account, (e) if
Service Award Contributions are being made or have been made, a Service Award
Contribution Account, and (f) if a Participant has made a rollover
contribution, a Rollover Account.

 

(b)                                 Investment Funds.  (1) 
In General. 
The Committee shall establish and maintain, or shall cause to be
established and maintained, three or more investment funds, the type and number
of such funds to be determined by the Company, to which all amounts contributed
under the Plan shall be credited according to each Participant’s investment
elections pursuant to subsection (c) of this Section.  The Trustee shall establish and maintain, or
cause to be established or maintained, investment subaccounts with respect to
each such investment fund to which amounts contributed under the Plan shall be
credited according to each Participant’s investment elections pursuant to
subsection (c) of this Section.  All
such subaccounts shall be for accounting purposes only, and there shall be no
segregation of assets within the investment funds among the separate
subaccounts.

 

(2)                                  Company Stock
Fund.  The Committee shall establish or shall cause
to be established a Company Stock Fund. 
The assets of the Company Stock Fund shall be invested primarily in
shares of Company Stock and short-term liquid investments in a commingled
money-market fund maintained by the Trustee, to the extent determined by the
Trustee to be necessary to satisfy such fund’s cash needs.  Each Participant’s proportional interest in
the Company Stock Fund shall be represented by units of participation, each
such unit representing a proportionate interest in all the assets of such
fund.  In making purchases or sales of
shares of Company Stock for the Company Stock Fund, the Trustee shall purchase
or sell shares of Company Stock in the manner and in the proportion as
prescribed by the Company in accordance with rules adopted for such
purpose.  Notwithstanding anything herein
to the contrary, any Participant’s investment election relating to the Company
Stock Fund shall be effective only to the extent such election complies with
the restrictions on transactions in Company Stock contained in the Company’s
Insider Trading Policy and applicable law.

 

(c)                                  Investment
Elections.  Each Participant shall make an investment
election which shall apply to the investment of his Account balance and any
earnings thereon and shall 

 

22

 

make an election which
shall apply to future contributions which will be made to such Participant’s
Account pursuant to Sections 3.1, 3.3, 4.1 and 4.2 and to the loan payments
made pursuant to Section 8.2(e). 
Such election shall specify that such contributions be invested either (i) wholly
in one fund maintained pursuant to subsection (b) or (ii) divided
among such funds in multiples established by the Committee from time to
time.  During any period in which no
direction as to the investment of a Participant’s Account is on file with the
Committee, contributions made by him or on his behalf to the Plan shall be invested
in such manner as the Committee shall determine.

 

With respect to the allocation of the Participant’s
existing Account balances among the available investment funds, a Participant
may elect to change his investment election effective as of any Valuation
Date.  The Committee may prescribe
uniform rules which shall govern the time by which any such election shall
be made in order to be effective for a Valuation Date.  A Participant may change his investment
elections only once during any one day.

 

With respect to the investment of future contributions
to the Participant’s Account among the available investment funds, a
Participant may elect to change his investment election effective as of the
date the change is elected.  The
Committee may prescribe uniform rules which shall govern the date and time
by which any such election shall be made in order to be effective for a
calendar month.  Such an election may be
made as of any Valuation Date, provided that in the event a Participant makes
more than one election with respect to a calendar month, the last such election
made by the Participant shall control.

 

(d)                                 Applicability. 
For purposes of this Section, the term “Participant” shall include any
beneficiary of a deceased Participant and any alternate payee under a qualified
domestic relations order on whose behalf an account has been established under
this Plan.

 

7.2                                 Allocation of
Contributions and Withdrawals to Accounts.

 

(a)                                  Allocations of
Deferred Contributions.  As soon as
administratively feasible, but in no event any later than the 15th business day
following the end of the Plan Year, the Committee shall deposit the Deferred
Contributions made via payroll reduction during such semi-monthly period with
the Trustee.  Such contributions shall be
allocated to the Deferred Contribution Account of each Participant on whose
behalf such contributions were made as soon as practicable after such date.

 

(b)                                 Allocations of
Participant Contributions.  Twice per
calendar month (or at such other frequency prescribed by the Committee), the
Committee shall deposit the Participant Contributions made during such
semi-monthly period (or other period prescribed by the Committee) with the
Trustee.  Such contributions shall be
allocated to the Participant Contribution Account of each Participant who made
such contributions as soon as practicable after such date.

 

(c)                                  Allocations of
Matching Contributions.  Twice per
calendar month, but in no event later than the due date of the Employer’s tax
return for the year,  Matching 

 

23

 

Contributions made during
such month shall be deposited with the Trustee. 
Such contributions shall be allocated to the Matching Contribution
Account of each Participant for whom such contributions are made as soon as
practicable after such date.

 

(d)                                 Allocations of
Profit Sharing Contributions.  As of the end
of each calendar month, after the adjustments described in Section 7.3
have been made, the Committee shall allocate the Profit Sharing Contributions made
since the preceding calendar month to the Profit Sharing Account of each
Participant.  Such Profit Sharing
Contributions shall be allocated on a pro-rata basis to each Participant based
on each such Participant’s Compensation during such Plan Year.

 

(e)                                  Allocations of
Service Award Contributions.  The Committee
may deposit a Participant’s Service Award Contribution with the Trustee at any
time during or after the end of the Plan Year for which such contribution is
awarded, but in no event later than the due date of the Employer’s federal
income tax return for the tax year in which such Plan Year ends.  Such contribution shall be allocated to the
Participant’s Service Award Contribution Account as soon as practicable after
such date.

 

(f)                                    Allocations of Rollover
Contributions.  As soon as administratively practicable after
a Participant delivers a rollover contribution to the Trustee/Recordkeeper, the
Trustee/Recordkeeper shall deposit such contribution with the Trustee.  Such contribution shall be allocated to the
Participant’s Rollover Account as soon as practicable after such date.  Any such contribution must be accompanied by
such information and certifications that the Trustee/Recordkeeper may
require.  Notwithstanding the foregoing,
the Trustee/Recordkeeper shall not accept a rollover contribution if in its
judgment accepting such contribution would cause the Plan to violate any
provision of the Code or Regulations.

 

(g)                                 Allocation of
Loan Repayments.  As soon as administratively
feasible, but in no event later than the 15th business day following the end of the payroll
month, the Committee shall deposit the loan repayments during such semi-monthly
period with the Trustee.  Such repayments
shall be allocated to the Deferred Contribution Account or Rollover Account, as
applicable, of each Participant who made such repayments as soon as practicable
after such date.  The Committee shall
reduce the Participant’s loan subaccount (as defined in Section 8.2(e)) by
the principal portion of such loan repayments.

 

(h)                                 Allocation of
Withdrawals.  As of each Valuation Date, after making the
adjustments described in Section 7.3, a Participant’s Account shall be
reduced by the amount of any withdrawals or distributions from such Account
made after the immediately preceding Valuation Date.

 

24

 

(i)                                     Allocation of
Forfeitures.  Forfeitures arising under this Plan pursuant
to Section 9.1(b) shall be applied to fund Employer Matching
Contributions or pay proper expenses of the Plan during the Plan Year during
which, but nor prior to the date on which, such forfeitures occur pursuant to Section 9.1(b).

 

7.3                                 Valuation of
Participants’ Accounts.

 

(a)                                  Value of
Investment Funds.  Except for the Company Stock
Fund, as of each Valuation Date, the value of the portion of Participants’
Accounts that is invested in each investment fund shall be determined based
upon the number of units invested in each such fund and the net asset value of
each such fund, as determined by the Trustee.

 

(b)                                 Valuation of
Portion of Accounts Invested in Company Stock. 
As soon as practicable after each Valuation Date, the value of
Participants’ Accounts that is invested in Company Stock, including any
accumulated cash, shall be determined by the Trustee, taking into account any
cash dividends, shares received as a stock split or dividend or as a result of
a reorganization or other recapitalization of the Company, or other
distributions paid to shareholders of Company Stock, since the preceding
Valuation Date.

 

(c)                                  Value of Total
Account.  The valuation of a Participant’s Account as
of any Valuation Date shall be the sum of the values of his Participant
Contribution Account, Deferred Contribution Account, Matching Contribution
Account, Profit Sharing Account, Service Award Contribution Account and
Rollover Account.  A Participant’s
Account shall be further reduced or increased in such manner as the Committee
determines in its discretion to be necessary to provide an equitable allocation
of any change in the value of the net worth of the Trust Fund.

 

7.4                                 Correction of
Error.  If it shall come to the attention of the
Committee that an error has been made in any of the allocations prescribed by
this Plan, appropriate adjustment shall be made to the Accounts of all Participants
and Beneficiaries that are affected by such error, except that no adjustment
need be made with respect to the Account of any Participant which has been
distributed in full prior to the discovery of such error.

 

25

 

Article 8

 

Withdrawals and Loans

 

8.1                                 Withdrawals
Prior to Termination of Employment.

 

(a)                                  Withdrawals from
Participant Contribution Account.  A Participant
who is an Employee may elect to withdraw all or any portion of the balance of
his Participant Contribution Account.

 

If a Participant withdraws any amounts described in
clause (iii) of the preceding sentence which were matched by Matching
Contributions as described in Section 4.1, the Participant shall be
suspended from receiving allocations of Matching Contributions for a period of
6 months from the date such amount is withdrawn.  Notwithstanding the foregoing, in the case of
a Participant who makes a withdrawal pursuant to this subsection while on an
approved leave of absence, such 6-month suspension shall begin on the date of
such withdrawal.

 

(b)                                 Withdrawals
After Age 591/2. 
Upon attaining age 591/2, a Participant who is an Employee may withdraw all or
any part of the balances of his Deferred Contribution Account and Rollover
Account.  Amounts withdrawn pursuant to
this subsection shall be debited first from the Participant’s Rollover Account,
and next from the Participant’s Deferred Contribution Account.

 

(c)                                  Hardship
Withdrawals.  A Participant who is an Employee may, prior
to attainment of age 591/2, withdraw
a portion of the balance of the Participant’s Deferred Contribution Account and
Service Award Contribution Account, but only on account of a financial
hardship.  The minimum amount that may be
withdrawn due to financial hardship is the lesser of $500 and the aggregate of
the balance of a Participant’s Deferred Contribution Account (excluding any
earnings credited to such account), and the documented need for a hardship
withdrawal must be at least $500.  No
amount may be withdrawn from a Participant’s Matching Contribution Account or
Profit Sharing Account under this subsection on account of financial
hardship.  No financial hardship
withdrawal shall be permitted (1) while any amounts remain in such
Participant’s Participant Contribution Account or Rollover Account or (2) if
the Participant is currently eligible to borrow from the Plan pursuant to Section 8.2,
unless the Participant attests that making loan payments on amounts borrowed
from the Plan will cause a financial hardship.

 

Financial hardship shall be deemed to exist only if
the distribution is necessary because of immediate and heavy financial need of
the Participant under the following circumstances:

 

(1)                                  to pay expenses for (or necessary to
obtain) medical care that would be deductible under section 213(d) of the
Code (determined without regard to whether the expenses exceed 7.5% of adjusted
gross income) incurred by 

 

26

 

the Participant or the
Participant’s spouse, children, dependents (as defined in section 152 of the
Code and without regard to section 152(b)(1), (b)(2) and (d)(1)(B) of
the Code ) or primary beneficiary;

 

(2)                                  to pay costs directly related to the
purchase of the Participant’s principal residence (excluding periodic mortgage
payments);

 

(3)                                  to pay tuition, related educational fees,
and room and board expenses, for the next twelve (12) months of post-secondary
education for the Participant or the Participant’s spouse, children, dependents
(as defined in section 152 of the Code and without regard to section 152(b)(1),
(b)(2) and (d)(1)(B) of the Code ) or primary beneficiary;

 

(4)                                  to prevent eviction from, or foreclosure
on, the Participant’s principal residence; or

 

(5)                                  to pay for burial or funeral expenses for
the Participant’s deceased parent, spouse, children or dependents (as defined
in section 152 of the Code and without regard to section 152(d)(1)(B) of
the Code) or primary beneficiary; or

 

(6)                                  to pay expenses for the repair of damage
to the Participant’s principal residence that would qualify for the casualty
deduction under section 165 of the Code (determined without regard to whether
the loss exceeds 10% of adjusted gross income).

 

For purposes of this Section 8.1(c), the term “primary
beneficiary” shall mean any individual who is named as a beneficiary and has
an unconditional right to all or a portion of the Participant’s Account balance
under the Plan upon the death of the Participant.

 

For purposes of this subsection, a distribution shall
be deemed necessary to satisfy an immediate and heavy financial need only if:

 

(1)                                  the Trustee/Recordkeeper receives from
the Participant a representation that the need cannot be relieved:

 

(i)                                     by cessation of Deferred Contributions
and Participant Contributions under the Plan; or

 

(ii)                                  by other distributions or nontaxable
loans (at the time of the loan) from plans maintained by the Company or any
other Employer, or by borrowing from commercial sources on reasonable
commercial terms, in an amount sufficient to satisfy the need, and

 

(2)                                  the Trustee/Recordkeeper reasonably
relies on the accuracy of such representation. 
The Trustee/Recordkeeper may rely upon the Participant’s representation
unless it has actual knowledge to the contrary.

 

27

 

(3)                                  For purposes of paragraph (1) above,
a need cannot reasonably be relieved by one of the actions listed therein if
the effect would be to increase the amount of the need.

 

In no event may the amount withdrawn pursuant to this
subsection (c) exceed the amount of the Participant’s Deferred
Contributions not previously withdrawn. 
The Trustee/Recordkeeper shall determine whether the criteria for
hardship withdrawal have been satisfied and has the right to refuse a hardship
withdrawal request if it finds that such criteria have not been satisfied.

 

Notwithstanding any provision of the Plan to the
contrary, a Participant who receives a hardship distribution hereunder shall be
prohibited from making any Deferred Contributions under Section 3.3 until
the first payroll period commencing coincident with or next following the date
which is six months after the date the hardship distribution was processed (or
such earlier date as may be permitted by applicable Regulations).  Such Participants may elect to resume making
Deferred Contributions in accordance with the procedures set forth in Section 3.3.

 

(d)                                 Rollover
Withdrawals.  While an Employee, a Participant may at any
time withdraw all or any portion of the balance of his Rollover Account.

 

(e)                                  Qualified Reservist
Withdrawals.  A Participant who is a Qualified Reservist may, subject
to subsection (g) of this Section, make a request while on active duty as
a Qualified Reservist, by instructions at the time and in the manner prescribed
by the Committee, to withdraw any portion not attributable to outstanding loans
of the balance of the Participant’s Participant Contribution Account.  For a period of two years after the end of
the active duty period, the Participant may repay the withdrawal by making
contributions outside of the Plan to an individual retirement account (within
the meaning of section 408 of the Code) in accordance with section 72(t)(2)(G) of
the Code.

 

(f)                                    Miscellaneous Rules Relating
to Withdrawals.  A Participant may request a
withdrawal pursuant to this Section in the manner prescribed by the
Committee; provided that a Participant may make only one such withdrawal during
any six consecutive month period.  For
purposes of determining the balance of a Participant’s Accounts under the Plan
for purposes of this Section, such balances shall be valued as of the date the
Participant’s request has been approved for processing by the
Trustee/Recordkeeper.  All withdrawals
under this Section shall be paid in cash. 
For purposes of this subsection, the value of a Participant’s Accounts
shall be determined by excluding the portion credited to the Participant’s loan
subaccount under Section 8.2(e), if any. 
In addition, such withdrawal shall be prorated among the Participant’s
investment funds.  Notwithstanding
anything herein to the contrary, any withdrawals under Section 8.1 may be
made from the portion of the Participant’s Account invested in the Company
Stock Fund only in accordance with the restrictions on transactions in Company
Stock contained in the Company’s Insider Trading Policy and applicable law.

 

28

 

8.2                                 Loans to
Participants.

 

(a)                                  Making of Loans. 
Subject to the restrictions set forth in this Section, the Committee
shall establish a loan program whereby any Participant who is an Employee may
request to borrow funds from the Plan. 
The principal balance of such loan shall be not less than $1,000 and
shall not exceed the lesser of (1) 50% of the aggregate of the Participant’s
vested Account balance under the Plan as of the Valuation Date coinciding with
or immediately preceding the day on which the loan is made, and (2) $50,000,
reduced by the excess, if any, of the highest outstanding loan balance of the
Participant under all plans maintained by the Employer during the period of
time beginning one year and one day prior to the date such loan is to be made
and ending on the date such loan is to be made over the outstanding balance of
loans from all such plans on the date on which such loan was made.

 

(b)                                 Restrictions. 
No Participant may have more than two loans outstanding at any
time.  Amounts equal to any such loan (or
loans, as the case may be) shall be debited first from the Participant’s
Deferred Contribution Account to the extent thereof, then from his Rollover
Account, if any, to the extent thereof, next from contributions to his
Participant Contribution Account and which have been matched by Matching
Contributions, then from his Matching Contribution Account to the extent
thereof, then from his Profit Sharing Account, to the extent thereof, and then
from his Service Award Contribution Account, to the extent thereof.  Such amounts shall be debited from the
investment fund or funds as the Committee shall, in its sole discretion,
determine; provided, however, that amounts may be debited from
the portion of a Participant’s Account invested in the Company Stock Fund only
in accordance with the restrictions on transactions in Company Stock contained
in the Company’s Insider Trading Policy and applicable law.  Any loan approved by the Committee pursuant
to the preceding paragraph (a) shall be made only upon the following terms
and conditions:

 

(1)                                  The period for repayment of the loan
shall be determined by the Participant, but such period shall not exceed five
years from the date of the loan; provided, however, that if the purpose of the loan, as
determined by the Committee, is to acquire any dwelling unit that within a
reasonable period of time is to be used as the principal residence of the
Participant, then such period for repayment shall not exceed fifteen
years.  Such loan may be prepaid, without
penalty, by delivery to the Trustee/Recordkeeper of cash in an amount equal to
the entire unpaid balance of such loan. 
Any loan is due in full upon termination of employment.

 

(2)                                  No loan shall be made unless the
Participant consents to have such loan repaid in substantially equal
installments deducted from the regular payments of the Participant’s
compensation during the term of the loan. 
Notwithstanding the foregoing, loan repayments under this Plan may be
suspended with respect to a Participant in military service to the extent
required by USERRA and in accordance with section 414(u)(4) of the Code.

 

(3)                                  Each loan shall be evidenced by the
Participant’s collateral promissory note for the amount of the loan, with
interest, payable to the order of the Trustee, and shall be secured by an
assignment of a portion of the 

 

29

 

Participant’s vested benefit under the Plan equal to
the initial principal amount of such loan and such other collateral as may be
required by the Committee.

 

(4)                                  Each loan shall bear a fixed interest
rate which shall be equal to the prime rate on the last Valuation Date of the
month preceding the date the loan is applied for as published in the Wall Street
Journal on the business day following such Valuation Date, plus
1%.

 

(5)                                  Each Participant requesting a loan shall,
as a condition of receiving such loan, pay such reasonable loan processing fee as
shall be set from time to time by the Committee.  To the extent permitted by the Committee,
such fee may be paid from the loan proceeds.

 

(6)                                  The Committee may, in its sole
discretion, restrict the amount to be disbursed pursuant to any loan request to
the extent it deems necessary to take into account any fluctuations in the
value of a Participant’s Accounts since the date on which the Participant filed
a request for a loan.

 

(7)                                  The Committee may, in its sole
discretion, cause a charge as an expense to the Accounts of any Participant
receiving a loan any reasonable administrative fee for processing or annual
maintenance of such loan.

 

(c)                                  Loan Default. 
In the event a Participant defaults on a Plan loan, the entire unpaid
balance of the loan shall become due and payable immediately.  The Committee may declare a loan to be in
default if any of the following events occur:

 

(1)                                  the termination of his employment with
his Employer for any reason (including death);

 

(2)                                  the Participant becoming a Disabled Participant;

 

(3)                                  failure of the Participant to make any
payment of principal or interest on the loan on or before the date such payment
is due;

 

(4)                                  the Participant’s net paycheck (after all
other payroll deductions) decreases to an amount lower than his payroll
deduction loan repayment amount;

 

(5)                                  failure of the Participant to perform or
observe any of his covenants, duties or agreements under the promissory note
executed by the Participant with respect to the loan;

 

(6)                                  receipt by the Plan of opinion of counsel
to the effect that (1) the Plan will, or could, lose its status as a
qualified plan under section 401 (a) of the Code unless the loan is repaid
or (2) the loan violates, or may violate, any provision of ERISA;

 

(7)                                  any portion of the Participant’s Account
that is not in excess of the amount that has been pledged as security for the
loan becomes payable from the 

 

30

 

Plan to the Participant, to any beneficiary of the
Participant, or to any “alternate payee” of the Participant pursuant to any
qualified domestic relations order (as defined in section 414(p) of the
Code); or

 

(8)                                  the Participant makes an assignment for
the benefit of creditors, files a petition in bankruptcy, is adjudicated
insolvent or bankrupt, or becomes a subject of any wage earner plan under the
federal Bankruptcy Code or under any applicable state insolvency law, or there
is commenced against the Participant any bankruptcy, insolvency, or other
similar proceeding which remains undismissed for a period of 60 days (or the
Participant by an act indicates his consent to, approval of, or acquiescence in
any such proceeding).

 

Notwithstanding the foregoing, loan repayments may be
suspended for (i) any period during which a Participant takes an authorized
unpaid sick leave from his Employer and (ii) any period of a Participant’s
unpaid authorized leave of absence, but in no event for a period exceeding one
year.  A default shall occur upon the
Participant’s resumption of active employment unless the Participant pays all
outstanding amounts in arrears upon such resumption, or upon the expiration of
such one-year period, if earlier.

 

In the event a default on a Participant loan occurs
and the Participant does not pay the entire unpaid balance of the loan (with
accrued unpaid interest) within five business days after the date the default
occurs, the Participant’s vested interest under the Plan that has been pledged
as security for repayment of the Plan loan shall be applied immediately, to the
extent required, to pay the entire unpaid balance of the loan (and all accrued
unpaid interest thereon); provided, however, that in the case of a default described
in subparagraph (7) above, the Plan may distribute the Participant’s
promissory note to the Participant (or if the Participant has died, to his
beneficiary) in full satisfaction of the Plan’s liability to the Participant
(or if the Participant has died, to his beneficiary) with respect to that
portion of the Participant’s vested Account equal to the outstanding loan
amount (including accrued unpaid interest). Notwithstanding the foregoing, no
portion of the Participant’s Account consisting of, or attributable to, the
Participant’s elective deferrals (as defined in section 402(g) of the
Code) shall be applied to pay an outstanding loan before the date the
Participant terminates employment or, if earlier, attains age 591/2.

 

Failure by the Committee to enforce strictly Plan
rights with respect to a default on a Plan loan shall not constitute a waiver
of such rights.

 

(d)                                 Applicability. 
The provisions of this Section 8.2 shall apply to any person who is
a Participant but who is not an Employee and any beneficiary of a deceased
Participant if such Participant or beneficiary is a “party in interest” as
defined in section 3(14) of ERISA.  The
grant of a loan pursuant to this Section 8.2 and the terms and conditions
thereof shall apply to any such Participant or beneficiary in the same manner
as to a Participant who is an Employee, except that the requirements of Section 8.2(b)(2) shall
be met with respect to each such Participant and beneficiary if such
Participant or 

 

31

 

beneficiary consents to
have such loan repaid in substantially equal installments as determined by the
Committee, but not less frequently than quarterly.

 

(e)                                  Loan Subaccount. 
The Committee shall cause to be maintained a loan subaccount for the
receipt of amounts debited from a Participant’s accounts attributable to any
loan made pursuant to this Section 8.2. 
Appropriate accounting entries reflecting such transfers shall be
concurrent with the disbursement to the Participant of amounts borrowed.  A repayment of interest or principal received
in respect of amounts borrowed by a Participant shall be credited to the loan
subaccount of such Participant as soon as practicable after the Valuation Date
coinciding with or next following the date on which such payment is made.  Such repayments shall be credited to the
Participant’s Deferred Contribution Account, Rollover Account, Profit Sharing
Account, Service Award Contribution Account and Matching Contribution Account
in the same proportion as such accounts were charged with the loan.  Repayments so allocated to a Participant
shall then be allocated among such Participant’s investment fund subaccounts in
accordance with such Participant’s investment direction in effect at the time
that such repayments are credited to the Participant’s Accounts.

 

32

 

Article 9

 

Distributions Upon Termination of Employment

 

9.1                                 Entitlement to
Distribution Upon Termination of Employment.  (a) 
Vesting. 
A Participant or his designated beneficiary, as the case may be, shall
be entitled to receive his or her entire Account balance as soon as
administratively practicable following the date on which the Participant’s
termination of employment occurs if the Participant terminates employment after
completing at least three years of Service, on account of death, after
attainment of age 65 or if such Participant becomes a Disabled
Participant.  If a Participant terminates
employment for any other reason before completing three years of Service, the
balance of such Participant’s Matching Contribution Account and Profit Sharing
Account shall be forfeited as described in subsection (b) below.  A Participant is always fully vested in the
balance of such Participant’s Participant Contribution Account, Deferred
Contribution Account, Service Award Contribution and Rollover Account (if any).

 

(b)                                 Forfeitures. 
If upon a Participant’s termination of employment the Participant is not
vested in his Matching Contribution Account and Profit Sharing Account as
described in subsection (a) above, the balances of such Accounts shall be
charged to such Accounts and shall be forfeited on the date that is the earlier
of (i) in the case of a Participant who takes a distribution of the vested
portion of the Participant’s interest in the Trust Fund as provided in Section 9.2,
the date of such distribution and (ii) the date as of which the
Participant incurs 5 consecutive Break in Service Years.  Such forfeitures shall be applied as provided
in Section 7.2(i) after such date. 
If such Participant is reemployed prior to taking a distribution and
prior to incurring 5 consecutive Break in Service Years, such balances shall
not be forfeited and the distribution of such balances, along with any
subsequent amounts consisting of allocations of contributions credited to such
Accounts and changes in investment value as determined pursuant to Article 7,
shall be paid pursuant to this Article 9 upon the Participant’s subsequent
termination of employment.  If upon his
or her termination of employment any such Participant received a lump-sum
distribution pursuant to section 9.2 and is reemployed prior to incurring 5
consecutive Break in Service Years, then he or she shall have the right to pay
to the Trustee by the fifth anniversary of the Participant’s date of
reemployment an amount equal to such distribution.  If the Participant makes such a payment, then
the previously forfeited balances of his Matching Contribution Account and
Profit Sharing Account shall be restored, and the distribution of such
balances, along with any subsequent amounts consisting of allocations of
contributions credited to such Accounts and changes in investment value as
determined pursuant to Article 7, shall be paid pursuant to this Article 9
upon the Participant’s subsequent termination of employment.  If pursuant to this paragraph the forfeited
portion of a Participant’s Matching Contribution Account or Profit Sharing
Account is to be restored, the amount restored shall be obtained from the total
amount of forfeitures held under this Plan. If the aggregate amount to be so
restored to the Accounts of Participants who are employees of a particular
Employer exceeds the amount of such forfeitures, such Employer shall make a
contribution in an amount equal to such excess.

 

33

 

9.2                                 Form of
Distribution.
Any distribution to which a Participant or beneficiary becomes entitled upon
termination of employment shall be distributed by the Trustee upon the approval
performed by the Trustee/Recordkeeper based upon a Participant’s or beneficiary’s
termination of employment information provided to the Trustee/Recordkeeper by
the Company by payment in a single lump sum in cash.  Notwithstanding the preceding sentence, a
Participant or beneficiary, as the case may be, may elect to receive distribution
of the portion of such Participant’s Account that is invested in Company Stock
in the form of whole shares of Company Stock with cash in lieu of fractional
shares.  Any distribution made to a
Participant or beneficiary of cash and/or Company Stock may be delivered to
such Participant or beneficiary, if elected, via electronic delivery.

 

9.3                                 Time of
Distribution.  Any distribution to which a Participant or
his beneficiary becomes entitled upon termination of employment shall be made
as soon as administratively practicable following the date elected by the
Participant or the Participant’s designated beneficiary, as the case may be, provided, however,
that:

 

(a)                                  subject to Section 10.2, if a
Participant fails to make any election, the Participant’s Account shall be
distributed in a single lump sum cash payment no later than 60 days after the
end of the Plan Year in which the Participant attains age 65 (or terminates
employment, if later); provided that, the Participant may make an affirmative
election to defer distribution to a later date, but in no event later than April 1
of the calendar year following the calendar year in which the Participant’s
attains age 701/2;

 

(b)                                 distributions to a Participant’s
beneficiary on account of the Participant’s death shall be made no later than December 31
of the calendar year in which occurs the fifth anniversary of the Participant’s
death;

 

(c)                                  with respect to a Participant who
continues in employment after attaining age 701/2, distribution of the Participant’s Account balance
shall commence no later than the Participant’s required beginning date.  For purposes of this paragraph, the term “required
beginning date” shall mean (i) with respect to a Participant who is a
5%-owner (within the meaning of section 416(i) of the Code) in the
calendar year in which he attains age 701/2, April 1 of the calendar year following the
calendar year in which the Participant attains age 701⁄2 and (ii) with
respect to any other Participant, April 1 of the calendar year following
the calendar year in which the Participant retires.  Notwithstanding the foregoing, to the extent
required by the Secretary of the Treasury, a Participant who is not a 5%-owner
shall be permitted to elect that distributions commence no later than April 1
of the calendar year following the calendar year in which the Participant
attains age 701/2.  All distributions shall be made in accordance
with section 401(a)(9) of the Code, including the incidental death benefit
requirement of section 401(a)(9)(G), and the regulations promulgated by the
U.S. Treasury Department thereunder, and any Plan provisions reflecting the
requirements of section 401(a)(9) of the Code shall override any
distribution option in the Plan which is inconsistent with section 401(a)(9) of
the Code.

 

34

 

9.4                                 Valuation of
Accounts.  For purposes of determining the value of a
Participant’s Account balance under the Plan for purposes of this Article, the
Participant’s Account balance shall be valued as of the date the distribution
is approved by the Trustee/Recordkeeper.

 

35

 

Article 10

Special Participation and
Distribution Rules

 

(a)           Direct Rollover
Option.  (1)  In the case of any distribution
(including any withdrawal) that is an “eligible rollover distribution” within
the meaning of section 402(c)(4) of the Code, a distributee may elect that
all or any portion of such distribution to which he is entitled shall be
directly transferred from the Plan to (i) an individual retirement account
or annuity described in section 408(a) or (b) or 408A of the Code, (ii) to
this Plan or another employer’s retirement plan qualified under section 401(a) of
the Code (the terms of which permit the acceptance of rollover distributions), (iii) to
an annuity plan described in section 403(a) of the Code, (iv) an
annuity contract described in section 403(b) of the Code or (v) to an
eligible plan under section 457(b) of the Code which is maintained by a
state, political subdivision of a state, or an agency or instrumentality of a
state or political subdivision of a state and which agrees to separately
account for amounts transferred into such plan from this Plan; provided, however,
that in the case of any eligible rollover distribution that includes any
non-taxable distributions, a distributee may elect to transfer the nontaxable
portion of such eligible rollover distribution only to any individual
retirement account or annuity described in section 408 (a) or (b) or
408A of the Code, or to a qualified defined contribution plan described in
section 401(a) or 403(b) of the Code that agrees to account separately
for amounts directly transferred into such plan from this Plan, including
separately accounting for the portion of such distribution which is includible
in gross income and the portion of such distribution which is not so
includible.  Notwithstanding the
foregoing, a distributee shall not be entitled to elect to have an eligible
rollover distribution transferred pursuant to this subsection if the total of
all eligible rollover distributions with respect to such distributee for the
Plan Year is not reasonably expected to equal at least $200, or in the case of
a partial direct rollover, the portion so rolled over equals at least
$500.  A “distributee” includes an
Employee or former Employee, the Employee’s or former Employee’s surviving
spouse and the Employee’s or former Employee’s spouse or former spouse who is
the alternate payee under a qualified domestic relations order, as defined in
section 414(p) of the Code.  The
term “distributee” shall also include the non-spouse beneficiary of a Participant;
provided, however, that a
non-spouse beneficiary is permitted to elect to have an eligible rollover
distribution transferred directly from the Plan only to an individual
retirement account or annuity described in section 408 or 408A of the Code.

 

Notwithstanding anything herein to the
contrary, a distributee may make a direct rollover distribution to a Roth
individual retirement account described in section 408A(e) of the Code if
such distribution meets the requirements of (i) section 402(c) of the
Code and (ii) effective only for distributions made after May 1, 2008
and before January 1, 2010, section 408A(c)(8)(B) of the Code (i.e.,
for the taxable year of the distribution, the Employee’s adjusted gross income
does not exceed $100,000 and the Employee is a not a married individual filing
a separate income tax return).

 

(b)           Notwithstanding the foregoing, no amount
that is distributed on account of hardship shall be an eligible rollover
distribution, and the distributee may not elect to have any portion of such a
distribution paid directly to an eligible retirement plan.

 

36

 

10.2         Distribution of
Small Account Balances.  If the
balance of the Participant’s Account to be distributed under this Section does
not exceed $5,000 (or such other amount prescribed by section 411(a)(11) of the
Code) (such amount referred to herein as the “small benefit amount”), such
balance shall be distributed as soon as administratively practicable after the
end of the calendar quarter in which the Participant’s termination of
employment occurs (or such other time prescribed by the Committee) in a single
lump sum cash payment.  For purposes of
determining whether a Participant’s Account exceeds $5,000, the value of the
Participant’s Account shall be determined without regard to that portion of the
Account balance that is attributable to rollover contributions and earnings
thereon.  In the event of a mandatory
distribution greater than $1,000 in accordance with the provisions of this Section 10.2,
if the Participant does not elect to have such distribution paid directly to an
eligible retirement plan specified by the Participant in a direct rollover or
to receive the distribution directly in accordance with this Section 10.2,
then the Plan Administrator shall pay the distribution in a direct rollover to
an individual retirement plan designated by the Plan Administrator.

 

10.3         Designation of
Beneficiary.  Each Participant shall have the right to
designate a beneficiary or beneficiaries (who may be designated contingently or
successively and that may be an entity other than a natural person) to receive
any distribution to which the Participant is entitled upon his death pursuant
to Section 9.1, provided, however, that no such designation (or change
thereof) shall be effective if the Participant was married throughout the
one-year period ending on the date of the Participant’s death unless such
designation (or change thereof) was consented to at the time of such
designation (or change thereof) by the person who was the Participant’s spouse
during such period, in writing, acknowledging the effect of such consent and
witnessed by a notary public or a Plan representative, or it is established to
the satisfaction of the Committee that such consent could not be obtained
because the Participant’s spouse cannot be located or such other circumstances
as may be prescribed in Regulations. Subject to the preceding sentence, a
Participant may from time to time, without the consent of any beneficiary, change
or cancel any such designation.  Such
designation and each change therein shall be made in the form prescribed by the
Committee and shall be filed with the Committee.  If (i) no beneficiary has been named by
a deceased Participant, (ii) such designation is not effective pursuant to
the proviso contained in the first sentence of this Section, or (iii) the
designated beneficiary has predeceased the Participant, any undistributed
balance, of the deceased Participant’s Account shall be distributed by the Trustee
at the direction of the Committee:

 

(a)           to the surviving spouse of such deceased Participant,
if any, or

 

(b)           if there is no surviving spouse, to the surviving
children of such deceased Participant, if any, in equal shares, or

 

(c)           if there is no surviving spouse and there are no
surviving children, to the person or persons entitled to benefits under any
group term life insurance plan maintained by the Participant’s Employer on
account of the Participant’s death, in the shares prescribed by such plan, if
any, or

 

(d)           if there is no surviving spouse, there are no
surviving children and there are no benefits payable under any such group term
life insurance plan, to the Participant’s estate.

 

37

 

The marriage of a Participant shall be deemed to
revoke any prior designation of a beneficiary made by him and a divorce shall
be deemed to revoke any prior designation of the Participant’s divorced spouse
if written evidence of such marriage or divorce shall be received by the
Committee before distribution of the Participant’s Account balance has been
made in accordance with such designation. 
If within a period of three years following the death or other
termination of employment of any Participant the Committee in the exercise of
reasonable diligence has been unable to locate the person or persons entitled
to benefits under this Article 10, the rights of such person or persons
shall be forfeited, provided, however, that the Plan shall reinstate and pay to
such person or persons the amount of the benefits so forfeited upon a claim for
such benefits made by such person or persons. 
The amount to be so reinstated shall be obtained from the total amount
that shall have been forfeited pursuant to this Section 10.3 during the
Plan Year that the claim for such forfeited benefit is made.  If the amount to be reinstated exceeds the
amount of such forfeitures, the Employer in respect of whose Employee the claim
for forfeited benefit is made shall make a contribution in an amount equal to
the remainder of such excess.  Any such
contribution shall be made without regard to whether or not the limitations set
forth in Section 5.3 will be exceeded by such contribution.

 

If there is doubt as to the right of any beneficiary
to receive any amount, the Trustee on instructions of the Plan Administrator
may retain such amount until the rights thereto are determined, or it may pay
such amount into any court of appropriate jurisdiction, and none of the Plan
Administrator, the Committee, the Trustee, the Company or any Employer shall be
liable for any interest on such amount or shall be under any other liability to
any person in respect of such amount.

 

10.4         Distributions to
Minor or Disabled Beneficiaries.  Any
distribution which is payable to a person who is a minor or to a person who, in
the opinion of the Committee, is unable to manage his affairs by reason of
illness or mental incompetency may be made to or for the benefit of any such
person in such of the following ways as the Committee shall direct:

 

(a)           directly to any such minor if, in the
opinion of the Committee, he is able to manage his affairs,

 

(b)           to the legal representative of any such
person,

 

(c)           to a custodian under a Uniform Gifts to
Minors Act for any such minor, or

 

(d)           to some near relative of any such person
to be used for the latter’s benefit.

 

Neither the Committee nor the Trustee shall be
required to review the application by any third party of any distribution made
to or for the benefit of a person pursuant to this Section.

 

38

 

10.5         Non-Assignability.

 

(a)           In General. 
It is a condition of the Plan, and all rights of each Participant and
beneficiary shall be subject thereto, that no right or interest of any
Participant or beneficiary in the Plan shall be assignable or transferable in
whole or in part, either directly or by operation of law or otherwise,
including, but not by way of limitation, execution, levy, garnishment,
attachment, pledge or bankruptcy, but excluding devolution by death or mental
incompetency, and no right or interest of any Participant or beneficiary in the
Plan shall be liable for, or subject to, any obligation or liability of such
Participant or beneficiary, including claims for alimony or the support of any
spouse, except as provided below.

 

(b)           Exception for Qualified Domestic
Relations Orders.  Notwithstanding any provision
of the Plan to the contrary, if the Plan Administrator shall receive any
written judgment, decree or order (including approval of a property settlement
agreement) pursuant to State domestic relations or community property law
relating to the provision of child support, alimony or marital property rights
of a spouse, former spouse, child or other dependent of a Participant and purporting
to provide for the payment of all or a portion of the Participant’s Account to
or on behalf of one or more of such persons (such judgment, decree or order
being hereinafter called a “domestic relations order”), the Plan Administrator
shall arrange to determine whether such order constitutes a “qualified domestic
relations order,” as defined in section 414(p) of the Code and section
206(d)(3) of ERISA. If the order is determined to be a qualified domestic
relations order, all or a portion of the Participant’s Account, as specified in
the order, shall be assigned to the person or persons named therein, and shall
be payable in accordance with the terms of such order.

 

The manner in which all or any portion of a
Participant’s Account under the Plan may be assigned and paid to any other
person pursuant to the terms of a domestic relations order (“DRO”) shall be
governed by procedures adopted by the Plan Administrator for this purpose,
section 414(p) of the Code, section 206(d)(3) of ERISA and
Regulations issued thereunder.  Such
procedures shall provide that payments under a domestic relations order
applicable to a Participant’s Account under the Plan may commence as soon as
administratively practicable after such order is determined by the Plan
Administrator (or its delegate) to constitute a “qualified domestic relations
order” (“QDRO”) under section 414(p) of the Code and section 206(d)(3) of
ERISA, if the terms of the order so provide. 
A DRO shall not fail to be a QDRO solely because of the time at which it
is issued or because it is issued after or revises another DRO or QDRO.

 

(c)           Notwithstanding anything herein to the contrary,
however, a Participant’s benefit in the Plan may be reduced to satisfy
liabilities of the Participant to the Plan due to (i) the Participant
being convicted of committing a crime involving the Plan, (ii) a civil
judgment (or consent order or decree) entered by a court in an action brought
in connection with a violation of the fiduciary provisions of ERISA, or (iii) a
settlement agreement between the Secretary of Labor or the Pension Benefit
Guaranty Corporation and the Participant in connection with a violation of the
fiduciary provisions. Any such reduction shall be consistent with the
provisions of Sections 401(a)(13)(C) and (D) of the Code in all
respects, including the provisions regarding the Participant’s spouse.

 

39

 

10.6         Reemployment of
Veterans.  The provisions of this Section shall
apply in the case of the reemployment by an Employer of an Eligible Employee,
within the period prescribed by USERRA, after the Eligible Employee’s
completion of a period of qualified military service (as defined in section
414(u)(5) of the Code).  The
provisions of this section are intended to provide such Eligible Employees with
the rights required by USERRA and section 414(u) of the Code and shall be
interpreted in accordance with such intent.

 

(a)           Make Up of Participant Contributions and
Deferred Contributions.  Such Eligible
Employee shall be entitled to make contributions under the Plan in addition to
any Participant Contributions which the Eligible Employee elects to have made
under the Plan pursuant to Section 3.1 (such contributions referred to
herein as “Make Up Participant Contributions”), and shall be entitled to make
contributions under the Plan in addition to any Deferred Contributions which
the Eligible Employee elects to have made under the Plan pursuant to Section 3.3
(such contributions referred to herein as “Make Up Deferred Contributions”).
From time to time while employed by an Employer, such Employee may elect to
make such Make Up Participant Contributions and Make Up Deferred Contributions
during the period beginning on the date of such Employee’s reemployment and
ending on the earlier of:

 

(i)            the end of the period equal to the
product of three and such Employee’s period of qualified military service, and

 

(ii)           the 5th anniversary of the date of such
reemployment.

 

Such Employee shall not be permitted to contribute
Make Up Participant Contributions and Make Up Deferred Contributions to the
Plan in excess of the amount which the Employee could have elected to have made
under the Plan in the form of Participant Contributions or Deferred
Contributions, as the case may be, if the Eligible Employee had continued in
employment with his Employer during such period of qualified military
service.  Such Eligible Employee shall be
deemed to have earned “Compensation” from his Employer during such period of
qualified military service for this purpose in the amount prescribed by
sections 414(u)(2)(B) and 414(u)(7) of the Code.  The manner in which an Eligible Employee may
elect to make Make Up Participant Contributions and Make Up Deferred
Contributions pursuant to this subsection (a) shall be prescribed by the
Committee.

 

(b)           Make Up of Matching Contributions. 
An Eligible Employee who makes Make Up Participant Contributions or Make
Up Deferred Contributions as described in subsection (a) shall be entitled
to an allocation of Matching Contributions (“Make Up Matching Contributions”)
in an amount equal to the amount of Matching Contributions which would have
been allocated to the Matching Contribution Account of such Eligible Employee
under the Plan if such Make Up Participant Contributions or Make Up Deferred
Contributions had been made in the form of Participant Contributions or
Deferred Contributions, as the case may be, during the period of such Employee’s
qualified military service (as determined pursuant to section 414(u) of
the Code). The Eligible Employee’s Employer shall make a special contribution
to the Plan which shall be utilized solely for purposes of such allocation.

 

40

 

Any contributions made by an Eligible Employee or an
Employer pursuant to this Section on account of a period of qualified
military service in a prior Plan Year shall not be subject to the limitations
prescribed by Sections 3.5, 5.3 and 5.1 of the Plan (relating to sections
402(g), 404 and 415 of the Code, respectively) for the Plan Year in which such
contributions are made.  The Plan shall
not be treated as failing to satisfy the nondiscrimination rules of Section 5.2
of the Plan (relating to sections 401(k)(3) and 401(m) of the Code)
for any Plan Year solely on account of any make up contributions made by an
Eligible Employee or an Employer pursuant to this Section.

 

41

 

Article 11

Shareholder Rights with
Respect to Company Stock

 

11.1         Voting Rights. 
Each Participant who participates in the Company Stock Fund (or, in the
event of the Participant’s death, his beneficiary under the Plan) is, for
purposes of this Section, hereby designated as a “named fiduciary” (within the
meaning of Section 403(a)(1) of ERISA) with respect to a pro rata
portion (as hereinafter determined) of the unallocated shares of Company Stock
in the Company Stock Fund (and certain allocated shares of Company Stock in the
Company Stock Fund as to which timely directions are not received by the
Trustee). Such Participant shall have the right to direct the Trustee as to the
manner in which shares of Company Stock allocated to his Accounts under the
Plan and such other shares of common stock are to be voted on each matter
brought before a meeting of the stockholders of the Company as set forth below.

 

When the Company files preliminary proxy solicitation
materials with the Securities and Exchange Commission, the Company shall cause
a copy of all materials to be sent simultaneously to the Trustee.  Based on these materials the Trustee shall
prepare a voting instruction form.  At
the time of mailing of notice of each annual or special stockholders’ meeting
of the Company, the Company shall cause a copy of the notice and all proxy
solicitation materials to be sent to, each Participant with an interest in the
Company Stock Fund, together with the foregoing voting instruction form to be
returned to the Trustee or its designee. 
The form shall show the number of full and fractional shares of Company
Stock allocated to the Participant’s respective Accounts.  The Company shall provide the Trustee with a
copy of any materials provided to Participants and shall certify to the Trustee
that the materials have been mailed or otherwise sent to Participants.  Upon timely receipt of directions from each
Participant, the Trustee shall vote as directed, on each such matter, the
number of shares (including fractional shares) of Company Stock allocated to
such Participant’s Accounts, and the Trustee shall have no discretion in such matter.  If the Trustee shall not receive timely
direction from a Participant as to how shares of common stock allocated to such
Participant’s Account in the Company Stock Fund shall be voted, the Trustee
shall vote such shares in the same proportion in which the shares held in the
Company Stock Fund for which it received timely directions were voted, and the
Trustee shall have no discretion in such matter.

 

For purposes of this Section the shares of
Company Stock held in the Company Stock Fund shall be treated as allocated to
the Accounts of Participants in proportion to their respective interests in the
Company Stock Fund as of the immediately preceding record date for ownership of
Corn Products International, Inc. stock for stockholders entitled to
vote.  If any shares held in the Company
Stock Fund are not allocated to the Accounts of Participants when a matter is
brought to the stockholders of the Company for voting, the Trustee shall vote
such unallocated shares in the same proportion on each issue in which
responding Participants voted the shares allocated to their Accounts in the
Company Stock Fund, and the Trustee shall have no discretion in such
matter.  Directions from a Participant
pursuant to this Section shall be held in confidence by the Trustee and
shall not be divulged or released to the Company, or any officer or employee
thereof, or any other person.

 

42

 

11.2         Shareholder
Rights in the Event of a Tender Offer.  In the event
a tender or exchange offer is made for any shares of Company Stock, each
Participant who participates in the Company Stock Fund is, for purposes of this
Section, hereby designated as a “named fiduciary” (within the meaning of
section 403(a)(1) of ERISA) with respect to a pro rata portion (as
hereinafter determined) of the unallocated shares of Company Stock in the
Company Stock Fund.  Such Participant
shall have the right to direct the Trustee in writing as to the manner in which
to respond to such tender or exchange offer with respect to the shares of
Company Stock allocated to his Account in the Company Stock Fund and with
respect to a portion of the unallocated shares of Company Stock as set forth
below.

 

Upon commencement of a tender or exchange offer for
any securities held in the Trust that are Company Stock, the Company shall
notify each Participant with an interest in such securities of the tender or
exchange offer and utilize its best efforts to distribute timely or cause to be
distributed to the Participant the same information that is distributed to
shareholders of the Company in connection with the tender or exchange offer
and, after consulting with the Trustee, shall provide and pay for a means by
which the Participant may direct the Trustee whether to tender the Company
Stock allocated to the Participant’s Accounts. The Company shall provide the
Trustee with a copy of any material provided to Participants and shall certify
to the Trustee that the materials have been mailed or otherwise sent to
Participants.  Upon timely receipt of
directions from each Participant, the Trustee shall respond as directed with
respect to such shares of Company Stock allocated to the Participant’s Account
in the Company Stock Fund.  The
directions received by the Trustee from Participants and beneficiaries shall be
held by the Trustee in confidence and shall not be divulged or released to any
person, including officers or employees of the Company or any affiliate
thereof, except to the extent that the consequences of such directions are reflected
in reports regularly communicated to any such persons.  If the Trustee shall not receive timely
direction from a Participant as to the manner in which to respond to such
tender or exchange offer with respect to shares of Company Stock allocated to
the Participant’s Account in the Company Stock Fund, the Trustee shall not
tender or exchange such shares of Company Stock, as the case may be, and the
Trustee shall have no discretion in such matter.

 

For purposes of this Section, the shares of Company
Stock held in the Company Stock Fund shall be treated as allocated to the
Accounts of Participants in proportion to their respective interests in the
Company Stock Fund as of the immediately preceding record date for ownership of
Company Stock for stockholders entitled to tender.  The Committee may direct the Trustee to make
a special valuation of the Company Stock Fund in connection with such tender or
exchange offer.  If, for any reason,
there are any shares of Company Stock held in the Company Stock Fund which are
not allocated to the Accounts of Participants at the applicable time, the
Trustee shall respond to such tender or exchange offer with respect to such
unallocated shares by tendering or exchanging unallocated shares in the same
proportion as the allocated shares held under the Company Stock Fund for which
directions were received from Participants are tendered or exchanged, and by
not tendering or exchanging the balance of such unallocated shares, and the
Trustee shall have no discretion in such matter.

 

A Participant who has directed the Trustee to tender
or exchange some or all of the shares of Company Stock allocated to his
Accounts may, at any time prior to the tender or exchange offer withdrawal
date, direct the Trustee to withdraw some or all of such tendered or exchanged 

 

43

 

shares, and the Trustee shall withdraw the directed
number of shares from the tender or exchange offer prior to the offer
withdrawal deadline.  Prior to the
withdrawal deadline, if any shares of Company Stock not allocated to
Participants’ Accounts have been tendered or exchanged, the Trustee shall
redetermine the number of such securities that would be tendered or exchanged
under this section if the date of the foregoing withdrawal were the date of
determination, and withdraw from the tender or exchange offer the number of
shares of Company Stock to the extent necessary to reduce the amount of such
tendered or exchanged securities not allocated to Participant’s Accounts to the
amount so redetermined. A Participant shall not be limited as to the number of
directions to tender or exchange or withdraw that the Participant may give the
Trustee.

 

A direction by a Participant to the Trustee to tender
or exchange shares of Company Stock allocated to his Accounts shall not be
considered a written election under the Plan by the Participant to withdraw, or
have distributed, any or all of his withdrawable shares.  The Trustee shall credit to the Account of
the Participant from which the tendered or exchanged shares were taken the
proceeds received by the Trustee in exchange for the shares of Company Stock
tendered or exchanged from that Account. 
Pending receipt of directions (through the Plan Administrator) from the
Participant or the Company as to which of the remaining investment options the
proceeds should be invested in, the Trustee shall invest the proceeds in such
investment fund as specified by the Committee.

 

11.3         Applicability. 
For purposes of this Article, the term “Participant” shall include any
beneficiary of a deceased Participant and any alternate payee under a qualified
domestic relations order on whose behalf an Account has been established under
this Plan.

 

44

 

Article 12

Administration

 

12.1         The Committee. 
The Board of Directors shall appoint the Committee which shall consist
of at least three members.  The Committee
shall be the “administrator” of the Plan within the meaning of section 3(16) of
ERISA, and the Company and the Committee each shall be a “named fiduciary” of
the Plan under ERISA.  Administration of
the Plan shall be the responsibility of the Committee except to the extent that
authority to hold the Trust Fund of the Plan has been delegated to the Trustee,
in accordance with Section 12.2, and authority to direct the investment
and reinvestment of the Trust Fund has been delegated to the Committee.

 

12.2         Investment
Committee.  The Committee may appoint an investment
committee of at least three members, to invest, or direct the investment of,
such portion of the Trust Fund as the Committee may direct.  If so appointed, the investment committee
shall be a “named fiduciary” within the meaning of ERISA to the extent of its
responsibilities under the Plan.

 

12.3         Authority and
Duties of the Committee.  The Committee
may in its discretion appoint, use or employ accountants, counsel, financial
specialists (including investment advisors and investment managers, as defined
in ERISA) and such other person or persons (who may be employees of an
Employer) as it deems necessary or desirable in connection with the
administration or management of this Plan and the Trust Fund.  The reasonable fees of such persons, and any
other necessary and proper expenses of the Committee, shall be paid out of the
Trust Fund unless such amounts are paid by the Employers.

 

The Committee shall have the power and discretionary
authority to:

 

(a)           Adopt rules, regulations and procedures
with respect to the administration of the Plan;

 

(b)           Construe this document, the Committee’s
interpretation of which in good faith shall be final and binding;

 

(c)           Correct any defect, supply any omission,
or reconcile any inconsistency in this document in that manner and to that
extent which the Committee believes is necessary; and

 

(d)           Resolve all questions which arise under
this document, including directions to and questions submitted by the Trustee,
any insurer or any other entity holding the assets of the Plan on all matters
necessary for it to discharge its powers and duties, and any questions relating
to the eligibility of one or more Participants for benefits from the Plan and
the amount of such benefits and the manner and form in which such benefits may
be paid.

 

The Committee also shall have sole discretion to
delegate (with written notice to the Company and the Trustee) any fiduciary
responsibilities to another person, such as the Plan Administrator or an
investment manager.  To the extent those
responsibilities are 

 

45

 

delegated, the Committee shall be relieved of
liability for acts or omissions of the person or persons to whom
responsibilities are delegated, to the fullest extent permitted by law.

 

Except as it may delegate the power of interpretation
as provided herein, the Committee shall have the exclusive authority to
interpret the Plan provisions and to exercise discretion where necessary or
appropriate in the interpretation and administration of the Plan and to decide
any and all matters arising thereunder or in connection with the administration
of the Plan.  Subject to the claims
review procedure established by the Committee, the decisions, actions and
records of the Committee shall be conclusive and binding upon the Employers,
Participants, and their estates, and any and all persons having, or claiming to
have, any rights or interest in or under the Plan.

 

The Committee shall adopt and implement a policy for
the investment of the Trust Fund, including notification to the Trustee (or the
investment committee or investment manager, if appointed) of such policy and
periodic review of the performance of the Trustee (or the investment committee
or investment manager, if appointed) to assure investments consistent with such
policy.

 

12.4         Plan Administrator. 
The Committee shall appoint a Plan Administrator who shall be
responsible for the daily operation of the Plan within the policies,
interpretations and rules made by the Committee.  The Plan Administrator shall also perform
such ministerial functions with respect to the Plan as the Committee shall from
time to time designate.  The Plan
Administrator may (but need not) be a member of the Committee.  The Plan Administrator may resign upon 45
days written notice to the Committee (or shorter notice acceptable to the
Committee).  The Committee may, in its
sole discretion, remove the Plan Administrator. 
The Committee shall have the power to fill a vacancy created by the
resignation, removal or death of the Plan Administrator.  The reasonable fees of accountants, counsel
or other consultants, the expenses of clerical help, and any other necessary
and proper expenses of the Plan Administrator, shall be paid out of the Trust
Fund unless such amounts are paid by the Employers.  The Plan Administrator shall report to the
Committee from time to time in order that the Plan Administrator’s performance
of his duties may be reviewed.

 

12.5         Review of
Fiduciary Responsibility Designations or Allocations. 
Each designation or allocation made under Section 12.3 shall also
provide that the Committee shall periodically meet with the person or persons
to whom the delegation was made to review the performance of the person to whom
duties have been delegated.  This review,
which may be conducted by all Committee members or by a designated review
subcommittee, will permit the Committee to determine whether it should continue
the allocation or designation.

 

12.6         Reliance on
Others.  The members of the Committee, the Plan
Administrator and the officers and directors of the Company shall be entitled
to rely upon all certificates and reports made by any duly appointed
accountant, upon all opinions given by any duly appointed legal counsel, and
upon such staff or specialists as they may deem necessary or desirable to
employ with respect to their responsibilities pursuant to the Plan.  Any one or all of the foregoing appointees
may also be currently serving or have served in a similar capacity for an
Employer.

 

46

 

12.7         Liability. 
Neither the Plan Administrator nor any member of the Committee shall be
liable for any act or omission of any other person, nor for any act or omission
on his own part, excepting only his own willful misconduct or except as
otherwise expressly provided in ERISA. 
To the extent permitted by applicable law, each Employer shall indemnify
and save harmless each employee, officer or director of such Employer acting as
a fiduciary (other than the Trustee) against any and all expenses and
liabilities arising out of his fiduciary responsibilities, excepting only
expenses and liabilities arising out of his own willful misconduct; and the
Company shall indemnify and hold harmless the Plan Administrator for all acts
and omissions relating to his duties as Plan Administrator, except those
arising out of his willful misconduct. Expenses against which such person may
be indemnified hereunder include, without limitation, the amount of any
settlement or judgment, costs, counsel fees and related charges reasonably
incurred in connection with a claim asserted or a proceeding brought or
settlement thereof.  The Committee, at an
Employer’s expense, may settle any such claim asserted or proceeding brought
against such person when such settlement appears to be in the best interest of
such Employer.  The foregoing right of
indemnification shall be in addition to any other rights to which any such
person may be entitled as a matter of law.

 

12.8         Claims Procedure. 
If any Participant or distributee believes he or she is entitled to
benefits in an amount greater than those which he or she is receiving or has
received, he or she may file a claim with the Committee (“a claimant”).  Such a claim shall be in writing and state
the nature of the claim, the facts supporting the claim, the amount claimed and
the address of the claimant.  The
Committee shall review the claim and, unless special circumstances require an
extension of time, within 90 days after receipt of the claim, give written or
electronic notice to the claimant of its decision with respect to the
claim.  If special circumstances require
an extension of time, the claimant shall be notified in writing or
electronically (in accordance with the requirements of Department of Labor
Regulation section 2520.104b-1(c)(1) or other applicable Regulations),
within the initial 90-day period of the extension, and such notice shall
describe the circumstances requiring the extension and the expected date by
which the Committee will make its determination.  In no event shall such an extension exceed 90
days.  The notice of the decision of the
Committee with respect to the claim shall be written in a manner calculated to
be understood by the claimant and, if the claim is wholly or partially denied,
set forth the specific reasons for the denial, specific references to the
pertinent Plan provisions on which the denial is based, a description of any
additional material or information necessary for the claimant to perfect the
claim, an explanation of why such material or information is necessary and an
explanation of the claim review procedure under the Plan (including a statement
of the claimant’s right to bring a civil action under section 502(a) of
ERISA following the final denial of the claim).

 

The claimant (or his or her duly authorized
representative) may request a review by the Committee of any denial of his or
her claim by filing with the Committee within 60 days after notice of the
denial has been received by the claimant, a written request for such
review.  Within the same 60 day period,
the claimant may submit to the Committee written comments, documents, records
and other information relating to the claim. 
Upon request and free of charge, the claimant also may have reasonable
access to, and copies of, documents, records and other information relative to
the claim.  If a request for review is so
filed, review of the denial shall be made by the Committee within, unless
special circumstances require an extension of time, 60 days after receipt of
such request.  If special circumstances
require an extension of time, the

 

47

 

claimant shall be notified in writing or electronically (in accordance
with the requirements of Department of Labor Regulation section 2520.104b-1(c)(1) or
other applicable Regulations) within the initial 60-day period of the
extension, and such notice shall describe the circumstances requiring the
extension and the expected date by which the Committee will make its
determination.  In no event shall such an
extension exceed 60 days.  If the appeal
is wholly or partially denied, the notice of the final decision of the
Committee shall be provided to the claimant and shall include specific reasons
for the decision, specific references to the pertinent Plan provisions on which
the decision is based and a statement that the claimant is entitled, upon
request and free of charge, to reasonable access to, and copies of, all
relevant documents, records and information. 
The notice shall be written in a manner calculated to be understood by
the claimant and shall notify the claimant of his or her right to bring a civil
action under section 502(a) of ERISA.

 

In making determinations as regarding claims for
benefits, the Committee shall consider all of the relevant facts and
circumstances, including, without limitation, governing Plan documents,
consistent application of Plan provisions with respect to similarly situated
claimants and any comments, documents, records and other information with
respect to a claim submitted by a claimant (a “claimant’s submissions”).  A claimant’s submissions shall be considered
by the Committee upon review of any initially denied claim without regard to
whether the claimant’s submissions were submitted or considered by the
Committee in the initial benefit determination.

 

48

 

Article 13

Participation in Plan by
Affiliate

 

13.1         Adoption by
Participating Employers.  Any entity
which is an Affiliate may, with the consent of the Company, become a
participating Employer in this Plan by adopting the Plan for its Eligible
Employees, and by taking such other action as the Company deems necessary or
appropriate to become a party to this Plan and trust established
hereunder.  The Company and any other
participating Employer may, through an amendment to the Plan, designate
particular divisions or units thereof which shall be eligible to participate in
this Plan.

 

13.2         Special
Provisions for Employees of Acquired Companies.

 

(a)           In approving the adoption of the Plan or its extension
to employees of any organization all or a part of whose business or assets, or
both, are acquired by an Employer by merger, purchase or otherwise, the Company
shall, subject to applicable law, designate the extent, if any, to which the
employees’ employment with predecessor companies prior to the date of such
adoption or extension shall be considered in determining their years of Service
and the extent, if any, to which benefits with respect to employment prior to
the date of such adoption or extension shall be provided under the Plan. Such
designations shall be indicated in the applicable schedule of any appendices to
this Plan.

 

(b)           The special provisions referred to in subsection (a) above
shall, to the extent applicable, govern as to eligibility for, and amounts of,
benefits payable hereunder, the regular provisions of the Plan notwithstanding.

 

49

 

Article 14

Amendment and Termination

 

14.1         Amendment. 
The Board of Directors or the Committee (through action taken by the
Board of Directors in accordance with its By-laws) reserves the right at any
time to amend, modify or suspend the Plan, any contributions thereunder, the
Trust Fund or any contract forming a part of the Plan in whole or in part and
for any reason and without the consent of any Participant or beneficiary.

 

14.2         Termination. 
The Plan may be terminated in its entirety at any time by resolution
adopted by the Board of Directors.  Any
participating Employer may terminate the Plan with respect to its Eligible
Employees by withdrawing from participation in the Plan.

 

14.3         Full Vesting
Upon Termination.  Upon a full termination or
partial termination of the Plan, each affected Participant shall become 100%
vested in the balance of such Participant’s Accounts under the Plan.

 

14.4         Segregation of
Trust.  In the event of a partial termination of the
Plan, or the withdrawal therefrom by a participating Employer, the Committee
shall determine the portion of the Trust Fund allocable to the affected
Participants.  The Trustee shall select
the assets to be withdrawn or segregated and its valuation of them for that
purpose shall be conclusive.  All assets
of the Plan withdrawn or segregated under this provision shall be placed in a
separate trust fund as directed by the Committee.

 

14.5         Committee
Determination Conclusive.  The Committee’s
determination as to the persons to be provided for, the amounts allocated, or
any other material facts shall be conclusive and binding upon the Trustee and
all claimants to any interest in the Plan.

 

50

 

Article 15

Top-Heavy Provisions

 

15.1         Definitions. 
For purposes of this Article 15, the following terms shall have the
following meanings:

 

(a)           “Determination Date” means, with respect to any Plan
Year, the last Valuation Date of the preceding Plan Year.

 

(b)           “Key Employee” means a Participant or former
Participant who is a “key employee” as defined in section 416(i) of the
Code.  “Key employee” means any Employee
or former Employee (including any deceased Employee) who at any time during the
Plan Year that includes the determination date was an officer of an Employer
having annual compensation greater than $150,000 (as adjusted under section
416(i)(1) of the Code for Plan Years beginning after December 31,
2008), a 5-percent owner of an Employer, or a 1-percent owner of an Employer
having annual compensation of more than $150,000.  For this purpose, annual compensation means
compensation within the meaning of section 415(c)(3) of the Code; provided,
however, with respect to a nonresident alien who is not a Participant in
the Plan, annual compensation shall not include any amounts paid to such
nonresident alien which are (i) excludable from gross income and (ii) not
effectively connected with the conduct of a trade or business within the United
States.  The determination of who is a
key employee will be made in accordance with section 416(i)(1) of the Code
and the applicable regulations and other guidance of general applicability
issued thereunder.

 

(c)           “Permissive Aggregation Group” means, with respect to
a given Plan Year, this Plan and all other plans of the Company which may be
aggregated in accordance with section 416(g)(2)(A)(ii) of the Code.

 

(d)           “Present Value of Accounts” means, as of a given
Determination Date, a Participant’s Account balance under the Plan as of such
Valuation Date.  The determination of the
Present Value of Accounts shall take into consideration distributions made
during the Plan Year ending on the Determination Date and the four preceding
years.

 

(e)           “Required Aggregation Group” means with respect to a
given Plan Year, this Plan and all other plans of the Company which, in the
aggregate, meet the requirements of the definition contained in section
416(g)(2)(A)(i) of the Code.

 

(f)            “Top-Heavy” means, with respect to the Plan for a Plan
Year:

 

(1)           that the Present Value of Accounts of Key
Employees exceeds 60% of the Present Value of Accounts of all Participants; or

 

(2)           the Plan is part of a Required
Aggregation Group and such Required Aggregation Group is a Top-Heavy Group,
unless the Plan or such 

 

51

 

Top-Heavy Group is itself
part of a Permissive Aggregation Group which is not a Top-Heavy Group.

 

(g)           “Top-Heavy Group” means, with respect to a given Plan
Year, a group of Plans of the Company which, in the aggregate, meet the
requirements of the definition contained in section 416(g)(2)(B) of the
Code.

 

15.2         Adjustments for
Top-Heavy Years.  Notwithstanding any other provision
of the Plan to the contrary, the following provisions of this Section shall
automatically become operative and shall supersede any conflicting provisions
of the Plan if, in any Plan Year, the Plan is Top-Heavy.

 

(a)           The minimum Employer contribution during the Plan Year
on behalf of a Participant who is not a Key Employee shall be equal to the
lesser of (1) 3% of such Participant’s compensation (within the meaning of
section 415 of the Code); or (2) the percentage of compensation at which
Company contributions (including Company contributions attributable to a salary
reduction arrangement) are made (or required to be made) under the Plan on
behalf of the Key Employee for whom such percentage is the highest.

 

(b)           In the case of a Participant under this Plan who is
not a Key Employee and who also participates in a defined benefit pension plan
of the Company which is included in the Aggregation Group, the provisions of
subsection (a) above shall be inapplicable, and such defined benefit
pension plan shall provide for a defined benefit minimum pension benefit in
accordance with section 416(c)(l) of the Code.

 

(c)           In the event that Congress should provide by statute,
or the Treasury Department should provide by regulation or ruling, that the
limitations provided in this Article 15 are no longer necessary for the
Plan to meet the requirements of section 401 (a) of the Code or other
applicable law then in effect, such limitations shall become void and shall no
longer apply, without requiring amendment of the Plan.

 

15.3         The present values of accrued benefits
and the amounts of account balances of an Employee as of the Determination Date
shall be increased by the distributions made with respect to the Employee under
the Plan and any plan aggregated with the Plan under section 416(g)(2) of
the Code during the 1-year period ending on the Determination Date.  The preceding sentence shall also apply to
distributions under a terminated plan which, had it not been terminated, would
have been aggregated with the plan under section 416(g)(2)(A)(i) of the
Code.  In the case of a distribution made
for a reason other than separation from service, death, or disability, this
provision shall be applied by substituting “five-year period” for “1-year
period.”  The accrued benefits and
accounts of any individual who has not performed services for an Employer
during the 1-year period ending on the Determination Date shall not be taken
into account.  Matching Contributions
shall be taken into account for purposes of satisfying the minimum contribution
requirements of section 416(c)(2) of the Code and the Plan.  The preceding sentence shall apply with
respect to Matching Contributions under the Plan.  Matching Contributions that are used to
satisfy the minimum contribution requirements shall be treated as matching
contributions for 

 

52

 

purposes of the actual contribution percentage test
and other requirements of section 401(m) of the Code.

 

53

 

Article 16

General Provisions

 

16.1         Limitation of
Rights.  The Trust Fund shall be the sole source of
benefits under this Plan, and each Participant or any other person who shall
claim the right to any payment or benefit under this Plan shall be entitled to
look only to the Trust Fund for such payment or benefit, and shall not have any
right, claim or demand therefor against the Company, an Employer, or any
officer or director of the Company or an Employer.

 

16.2         No Right to
Employment.  Nothing herein contained shall be deemed to
constitute a contract of employment between any Employer and any Employee, to
give any Employee the right to be retained in the employment of any Employer,
or to interfere with the rights of an Employer to discharge any Employee at any
time.

 

16.3         Payments Due to
Missing Participants.  If the
Trustee or the Company is unable to make payment to any person to whom a
payment is due under the Plan because it cannot ascertain the identity or
whereabouts of such person, and if more than six years after such payment is
due, a notice of payment so due is mailed by the Company to the last known
address of such person as shown on the records of the Company and within three
months after such mailing such person has not made written claim therefor, the
Company may direct that such payment and all remaining payments otherwise due
to such person be cancelled. Furthermore, no amount shall be cancelled under
this Section unless the Plan Administrator verifies to the Committee that
he has furnished to such Participant, when the Participant first became
entitled to receive a distribution from his Account, an individual statement
setting forth the nature, amount and form of the nonforfeitable amounts to
which the Participant is entitled.  Any
amount so cancelled shall be restored by the Company if and when the same shall
be claimed by such person entitled to receive it.

 

16.4         Transfer to an
Affiliate.  In the case of any individual who becomes a
Participant and who was an employee of an Affiliate, the Plan and the Trustee
may permit a transfer of such individual’s accrued benefit, if any, directly
into the Trust from such other trust.

 

16.5         Election Made
Through Telephone System.  Unless
otherwise specified herein, any election or consent permitted or required to be
made or given by any Participant and any permitted modification or revocation
thereof, shall be made in writing or shall be given by means of such
interactive telephone system as the Committee may designate from time to time.  Each Participant shall have a personal
identification number or “PIN” for purposes of executing transactions through
such Benefits Express interactive telephone system, and entry by a Participant
of his PIN shall constitute his valid signature for purposes of any transaction
the Committee determines should be executed by means of such interactive
telephone system, including but not limited to enrolling in the Plan, electing
contribution rates, making investment choices, executing loan documents, and
consenting to a withdrawal or distribution. Any election made through such
interactive telephone system shall be considered submitted to the Committee on
the date it is electronically transmitted.

 

54

 

16.6         Merger or
Consolidation with Another Plan.  The Plan
shall not merge or consolidate with, or transfer its assets or liabilities to
any other plan or entity unless each Participant would, if the surviving plan
or entity were then terminated, receive a benefit immediately after the merger,
consolidation or transfer which is equal to or greater than the benefit which
he would have been entitled to receive if the Plan had terminated immediately
before the merger, consolidation or transfer.

 

16.7         Company Action. 
Any action to be taken hereunder by the Company shall be taken by the
Board of Directors, or by such officer or officers of the Company which power
to take action under this Plan has been delegated by the Board of Directors.

 

16.8         Headings. 
The headings of the Sections in this Plan are used for reference only
and in the case of any conflict the text of the Plan, rather than such
headings, shall control.

 

16.9         Gender and
Plurals.  Masculine pronouns include the feminine as
well as the masculine gender, and words used in the singular include the
plural, wherever appropriate.

 

16.10       Construction.  The Plan
shall be construed, regulated, and administered in accordance with the laws of
the State of Illinois, except to the extent superseded by the Code or ERISA.

 

	
   

  	
  Executed on the 12th
  day of June, 2008

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CORN PRODUCTS
  INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James J. Hirchak

  
	
   

  	
  Title:

  	
  Vice President, Human
  Resources

  
	
  ATTEST:

  	
   

  
	
   

  	
   

  
	
  By:

  	
  John
  T. Surowiec

  	
   

  	
   

  
	
  Title:

  	
  Director - Benefits

  	
   

  	
   

  

 

55Exhibit 4.1

 

 

EXECUTION VERSION

 

SEALY
MATTRESS COMPANY,

 

Issuer

 

and

 

THE
GUARANTORS PARTY HERETO,

 

Guarantors

 

to

 

THE
BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

 

Trustee

 

INDENTURE

 

Dated as of
July 10, 2009

 

Guaranteed Debt
Securities

 

 

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  Article 1

  
	
  DEFINITIONS
  AND OTHER PROVISIONS OF GENERAL APPLICATION

  
	
   

  	
   

  	
   

  
	
  Section 101.

  	
  Definitions

  	
  1

  
	
  Section 102.

  	
  Compliance Certificates and Opinions

  	
  14

  
	
  Section 103.

  	
  Form of Documents Delivered to Trustee

  	
  14

  
	
  Section 104.

  	
  Acts of Holders

  	
  15

  
	
  Section 105.

  	
  Notices, Etc., to Trustee, Company and Guarantors

  	
  17

  
	
  Section 106.

  	
  Notice to Holders of Securities; Waiver

  	
  17

  
	
  Section 107.

  	
  Language of Notices

  	
  19

  
	
  Section 108.

  	
  Conflict With Trust Indenture Act

  	
  19

  
	
  Section 109.

  	
  Effect of Headings and Table of Contents

  	
  19

  
	
  Section 110.

  	
  Successors and Assigns

  	
  19

  
	
  Section 111.

  	
  Separability Clause

  	
  19

  
	
  Section 112.

  	
  Benefits of Indenture

  	
  19

  
	
  Section 113.

  	
  Governing Law

  	
  19

  
	
  Section 114.

  	
  Legal Holidays

  	
  19

  
	
  Section 115.

  	
  Counterparts

  	
  20

  
	
  Section 116.

  	
  Judgment Currency

  	
  20

  
	
  Section 117.

  	
  Extension of Payment Dates

  	
  21

  
	
  Section 118.

  	
  Immunity of Shareholders, Directors, Officers and
  Agents of the Company and Any Guarantor

  	
  21

  
	
  Section 119.

  	
  Waiver of Jury Trial

  	
  22

  
	
  Section 120.

  	
  Force Majeure

  	
  22

  
	
   

  	
   

  	
   

  
	
  Article 2

  
	
  SECURITIES FORMS

  
	
   

  
	
  Section 201.

  	
  Forms Generally

  	
  22

  
	
  Section 202.

  	
  Form of Trustee’s Certificate of Authentication

  	
  23

  
	
  Section 203.

  	
  Securities in Global Form

  	
  23

  
	
   

  	
   

  	
   

  
	
  Article 3

  
	
  THE SECURITIES

  
	
   

  	
   

  	
   

  
	
  Section 301.

  	
  Amount Unlimited; Issuable In Series

  	
  24

  
	
  Section 302.

  	
  Currency; Denominations

  	
  30

  
	
  Section 303.

  	
  Execution, Authentication, Delivery and Dating

  	
  30

  
	
  Section 304.

  	
  Temporary Securities

  	
  32

  
	
  Section 305.

  	
  Registration, Transfer and Exchange

  	
  33

  
	
  Section 306.

  	
  Mutilated, Destroyed, Lost and Stolen Securities

  	
  37

  

 

i

 

	
  Section 307.

  	
  Payment of Interest and Certain Additional Amounts;
  Rights to Interest and Certain Additional Amounts Preserved

  	
  38

  
	
  Section 308.

  	
  Persons Deemed Owners

  	
  40

  
	
  Section 309.

  	
  Cancellation

  	
  41

  
	
  Section 310.

  	
  Computation of Interest

  	
  41

  
	
  Section 311.

  	
  CUSIP Numbers

  	
  42

  
	
   

  	
   

  	
   

  
	
  Article 4

  
	
  SATISFACTION AND
  DISCHARGE OF INDENTURE

  
	
   

  
	
  Section 401.

  	
  Satisfaction and Discharge

  	
  42

  
	
  Section 402.

  	
  Defeasance and Covenant Defeasance

  	
  44

  
	
  Section 403.

  	
  Application of Trust Money

  	
  50

  
	
  Section 404.

  	
  Reinstatement

  	
  51

  
	
   

  	
   

  	
   

  
	
  Article 5

  
	
  REMEDIES

  
	
   

  
	
  Section 501.

  	
  Events Of Default

  	
  51

  
	
  Section 502.

  	
  Acceleration of Maturity; Rescission and Annulment

  	
  54

  
	
  Section 503.

  	
  Collection of Indebtedness and Suits for Enforcement
  by Trustee

  	
  55

  
	
  Section 504.

  	
  Trustee May File Proofs of Claim

  	
  56

  
	
  Section 505.

  	
  Trustee May Enforce Claims Without Possession
  of Securities or Coupons

  	
  57

  
	
  Section 506.

  	
  Application of Money Collected

  	
  57

  
	
  Section 507.

  	
  Limitations on Suits

  	
  58

  
	
  Section 508.

  	
  Unconditional Right of Holders to Receive Principal
  and Any Premium, Interest and Additional Amounts

  	
  59

  
	
  Section 509.

  	
  Restoration of Rights and Remedies

  	
  59

  
	
  Section 510.

  	
  Rights and Remedies Cumulative

  	
  59

  
	
  Section 511.

  	
  Delay or Omission Not Waiver

  	
  60

  
	
  Section 512.

  	
  Control by Holders of Securities

  	
  60

  
	
  Section 513.

  	
  Waiver of Past Defaults

  	
  60

  
	
  Section 514.

  	
  Waiver of Usury, Stay or Extension Laws

  	
  61

  
	
  Section 515.

  	
  Undertaking For Costs

  	
  61

  
	
   

  	
   

  	
   

  
	
  Article 6

  
	
  THE TRUSTEE

  
	
   

  
	
  Section 601.

  	
  Certain Rights of Trustee

  	
  62

  
	
  Section 602.

  	
  Notice of Defaults

  	
  63

  
	
  Section 603.

  	
  Not Responsible For Recitals or Issuance of
  Securities

  	
  64

  
	
  Section 604.

  	
  May Hold Securities

  	
  64

  
	
  Section 605.

  	
  Money Held in Trust

  	
  64

  
	
  Section 606.

  	
  Compensation and Reimbursement

  	
  64

  

 

ii

 

	
  Section 607.

  	
  Corporate Trustee Required; Eligibility

  	
  65

  
	
  Section 608.

  	
  Resignation and Removal; Appointment of Successor

  	
  66

  
	
  Section 609.

  	
  Acceptance of Appointment by Successor

  	
  67

  
	
  Section 610.

  	
  Merger, Conversion, Consolidation or Succession to
  Business

  	
  69

  
	
  Section 611.

  	
  Appointment of Authenticating Agent

  	
  69

  
	
  Section 612.

  	
  Certain Duties and Responsibilities

  	
  71

  
	
   

  	
   

  	
   

  
	
  Article 7

  
	
  HOLDERS LISTS AND
  REPORTS BY TRUSTEE, COMPANY AND GUARANTORS

  
	
   

  
	
  Section 701.

  	
  Company to Furnish Trustee Names and Addresses of
  Holders

  	
  73

  
	
  Section 702.

  	
  Preservation of Information; Communications to
  Holders

  	
  73

  
	
  Section 703.

  	
  Reports By Trustee

  	
  73

  
	
  Section 704.

  	
  Reports By Company and Guarantors

  	
  74

  
	
  Section 705.

  	
  Statement by Officers as to Default

  	
  75

  
	
   

  	
   

  	
   

  
	
  Article 8

  
	
  CONSOLIDATION, MERGER
  AND SALES

  
	
   

  	
   

  	
   

  
	
  Section 801.

  	
  Company May Consolidate, Etc., Only on Certain
  Terms

  	
  75

  
	
  Section 802.

  	
  Successor Person Substituted for Company

  	
  76

  
	
   

  	
   

  	
   

  
	
  Article 9

  
	
  SUPPLEMENTAL INDENTURES

  
	
   

  	
   

  	
   

  
	
  Section 901.

  	
  Supplemental Indentures Without Consent of Holders

  	
  76

  
	
  Section 902.

  	
  Supplemental Indentures With Consent of Holders

  	
  78

  
	
  Section 903.

  	
  Execution of Supplemental Indentures

  	
  80

  
	
  Section 904.

  	
  Effect of Supplemental Indentures

  	
  81

  
	
  Section 905.

  	
  Reference in Securities to Supplemental Indentures

  	
  81

  
	
  Section 906.

  	
  Conformity With Trust Indenture Act

  	
  81

  
	
   

  	
   

  	
   

  
	
  Article 10

  
	
  COVENANTS

  
	
   

  	
   

  	
   

  
	
  Section 1001.

  	
  Payment of Principal, Premium, Interest and
  Additional Amounts

  	
  81

  
	
  Section 1002.

  	
  Maintenance of Office or Agency

  	
  81

  
	
  Section 1003.

  	
  Money for Securities Payments to be Held in Trust

  	
  83

  
	
  Section 1004.

  	
  Additional Amounts

  	
  85

  
	
  Section 1005.

  	
  Legal Existence

  	
  85

  
	
  Section 1006.

  	
  Waiver of Certain Covenants

  	
  85

  
	
  Section 1007.

  	
  Company Statement as to Compliance

  	
  85

  
	
  Section 1008.

  	
  Guarantor Statement as to Compliance

  	
  86

  

 

iii

 

	
  Article 11

  
	
  REDEMPTION OF
  SECURITIES

  
	
   

  	
   

  	
   

  
	
  Section 1101.

  	
  Applicability of Article

  	
  86

  
	
  Section 1102.

  	
  Election to Redeem; Notice to Trustee

  	
  86

  
	
  Section 1103.

  	
  Selection by Trustee of Securities to be Redeemed

  	
  87

  
	
  Section 1104.

  	
  Notice of Redemption

  	
  87

  
	
  Section 1105.

  	
  Deposit of Redemption Price

  	
  89

  
	
  Section 1106.

  	
  Securities Payable on Redemption Date

  	
  89

  
	
  Section 1107.

  	
  Securities Redeemed in Part

  	
  90

  
	
   

  	
   

  	
   

  
	
  Article 12

  
	
  SINKING FUNDS

  
	
   

  	
   

  	
   

  
	
  Section 1201.

  	
  Applicability of Article

  	
  91

  
	
  Section 1202.

  	
  Satisfaction of Sinking Fund Payments with
  Securities

  	
  91

  
	
  Section 1203.

  	
  Redemption of Securities for Sinking Fund

  	
  92

  
	
   

  	
   

  	
   

  
	
  Article 13

  
	
  REPAYMENT AT THE OPTION
  OF HOLDERS

  
	
   

  	
   

  	
   

  
	
  Section 1301.

  	
  Applicability of Article

  	
  92

  
	
   

  	
   

  	
   

  
	
  Article 14

  
	
  SECURITIES IN FOREIGN
  CURRENCIES

  
	
   

  	
   

  	
   

  
	
  Section 1401.

  	
  Applicability of Article

  	
  93

  
	
   

  	
   

  	
   

  
	
  Article 15

  
	
  MEETINGS OF HOLDERS OF
  SECURITIES

  
	
   

  	
   

  	
   

  
	
  Section 1501.

  	
  Purposes For Which Meetings May Be Called

  	
  94

  
	
  Section 1502.

  	
  Call, Notice and Place of Meetings

  	
  94

  
	
  Section 1503.

  	
  Persons Entitled to Vote at Meetings

  	
  94

  
	
  Section 1504.

  	
  Quorum; Action

  	
  95

  
	
  Section 1505.

  	
  Determination of Voting Rights; Conduct and
  Adjournment of Meetings

  	
  96

  
	
  Section 1506.

  	
  Counting Votes and Recording Action of Meetings

  	
  97

  
	
   

  	
   

  	
   

  
	
  Article 16

  
	
  GUARANTEES

  
	
   

  	
   

  	
   

  
	
  Section 1601.

  	
  Guarantees

  	
  97

  
	
   

  	
   

  	
   

  
	
  Article 17

  
	
  SECURITY

  
	
   

  	
   

  	
   

  
	
  Section 1701.

  	
  Security

  	
  98

  

 

iv

 

INDENTURE, dated as of July 10, 2009 (the “Indenture”), among Sealy Mattress Company,
a corporation duly organized and existing under the laws of the State of Ohio
(hereinafter called the “Company”),
having its principal executive office located at Sealy Drive, One Office
Parkway, Trinity, North Carolina, 27370, the Guarantors (as defined below) and
The Bank of New York Mellon Trust Company, N.A. (hereinafter called the “Trustee”).

 

RECITALS

 

The Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance from time to time of
senior unsecured and secured debentures, notes or other evidences of indebtedness
(hereinafter called the “Securities”),
unlimited as to principal amount, to bear such rates of interest, to mature at
such time or times, to be issued in one or more series and to have such other
provisions as shall be fixed as hereinafter provided.

 

The Company has duly authorized the execution and
delivery of this Indenture.  All things
necessary to make this Indenture a valid and legally binding agreement of the
Company, in accordance with its terms, have been done.

 

In addition, each Initial Guarantor (as defined below)
has duly authorized the execution and delivery of this Indenture.  All things necessary to make this Indenture a
valid and legally binding agreement of each Initial Guarantor, in accordance
with its terms, have been done.

 

This Indenture is subject to the provisions of the
Trust Indenture Act of 1939, as amended, and the rules and regulations of
the Securities and Exchange Commission promulgated thereunder that are required
to be part of this Indenture and, to the extent applicable, shall be governed
by such provisions.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration of the premises and the
purchase of the Securities by the Holders (as herein defined) thereof, it is
mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities or of any series thereof and any Coupons (as herein
defined) as follows:

 

ARTICLE 1

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 101.           Definitions.  Except as otherwise expressly provided in or
pursuant to this Indenture or unless the context otherwise requires, for all
purposes of this Indenture:

 

 

(a)           the terms defined in this
Article have the meanings assigned to them in this Article, and include
the plural as well as the singular;

 

(b)           all other terms used herein which are
defined in the Trust Indenture Act either directly or by reference therein,
have the meanings assigned to them therein;

 

(c)           all accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with GAAP;

 

(d)           the words “herein”, “hereof”,
“hereto” 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;

 

(e)           the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both”, not “either
A or B but not both”);

 

(f)            provisions apply to successive
events and transactions;

 

(g)           the term “merger” includes a statutory share exchange and the terms “merge” and “merged” have correlative meanings;

 

(h)           the masculine gender includes the
feminine and the neuter; and

 

(i)            references to agreements and other
instruments include subsequent amendments and supplements thereto.

 

Certain terms used principally in certain Articles hereof
are defined in those Articles.

 

Except as otherwise expressly provided in or pursuant
to this Indenture, for all purposes of this Indenture, references to the
conversion or exchange of any Securities for or into other securities or
property shall not include the exchange of Securities of any series for other
Securities of the same series.

 

“Act”,
when used with respect to any Holders, has the meaning specified in
Section 104.

 

“Additional Amounts”
means any additional amounts which are required by this Indenture or by any
Security, or by the terms of any Security established pursuant to
Section 301, under circumstances specified herein or therein, to be paid
by the Company or any Guarantor in respect of certain taxes, duties, levies,
imposts, assessments or other governmental charges imposed on Holders specified
herein or therein.

 

2

 

“Affiliate”
of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person.  For the purposes
of this definition, “control,”
when used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to
the foregoing.

 

“Authenticating
Agent” means any Person authorized by the Trustee pursuant to
Section 611 to act on behalf of the Trustee to authenticate Securities of
one or more series.

 

“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 not Business Days 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 place meeting the foregoing requirements and in each case on any day
that is a Business Day in the place of publication.

 

“Bankruptcy Law”
means Title 11, U.S. Code or any similar federal, state, or foreign law for the
relief of debtors.

 

“Bearer Security”
means any Security in the form established pursuant to Section 201 which
is payable to bearer.

 

“Board of Directors”
means the board of directors of the Company or any committee of that board duly
authorized to act generally or in any particular respect for the Company
hereunder.  The term “board of directors” means the board of
directors of the Company and does not include committees of the board of
directors.

 

“Board Resolution”
means a copy of one or more resolutions, certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of
Directors and to be in full force and effect on the date of such certification,
delivered to the Trustee.

 

“Business Day”
means, unless otherwise specified with respect to the Securities of any series
pursuant to Section 301, any day other than a Saturday, Sunday or other
day on which banking institutions in The City of New York are authorized or
obligated by law, regulation or executive order to close; provided that such
term shall mean, when used with respect to any payment of principal of, 

 

3

 

or premium or interest, if any, on, or Additional
Amounts with respect to, the Securities of any series to be made at any Place
of Payment for such Securities, unless otherwise specified pursuant to
Section 301 with respect to such Securities, any day other than a
Saturday, Sunday or other day on which banking institutions in such Place of
Payment are authorized or obligated by law, regulation or executive order to
close.

 

“Commission”
means the Securities and Exchange Commission, as from time to time constituted,
or, if at any time after the execution 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 at such time.

 

“Common Shares”
means the common shares of the Company as such common shares exist on the date
of this Indenture or shares of any class or classes resulting from any
reclassification or reclassifications thereof and which have no preference in
respect of dividends or similar distributions or of amounts payable in the
event of any voluntary or involuntary liquidation, dissolution or winding up of
the Company and which are not subject to redemption by the Company; provided
that, solely in the case of any Securities that are convertible into Common
Shares, unless otherwise provided pursuant to Section 301 with respect to
the Securities of such series, if at any time there shall be more than one such
resulting class, the shares of each such class then so issuable on conversion
of such Securities shall be substantially in the proportion which the total
number of shares of such class resulting from all such reclassifications bears
to the total number of shares of all such classes resulting from all such
reclassifications.

 

“Company”
means the Person named as the “Company”
in the first paragraph of this instrument until a successor Person shall have
become such pursuant to the applicable provisions of this Indenture, and
thereafter “Company” shall mean
such successor Person and any other obligor upon the Securities.

 

“Company Request”
and “Company Order” mean,
respectively, a written request or order, as the case may be, signed in the
name of the Company by the Chairman, the Chief Executive Officer, the
President, the Chief Financial Officer or a Vice President and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, and delivered to the Trustee.

 

“Conversion Event”
means (i) with respect to any Foreign Currency other than the Euro, the
cessation of use of such Foreign Currency both by the government of the country
or the confederation which issued such Foreign Currency and for the settlement
of transactions by a central bank or other public institutions of or within the
international banking community or (ii) in the case of the Euro, the
cessation of use of the Euro both within the European Monetary System and for
the settlement of transactions by public institutions of or within the European
Union.

 

4

 

“Corporate Trust
Office” means the principal corporate trust office of the Trustee at
which at any particular time its corporate trust business shall be
administered, which office at the date of this Indenture is located at 10161
Centurion Parkway, 2nd Floor,
Jacksonville, FL 32256, Attention: Corporate Trust Administration, or such
other address as the Trustee may designate from time to time by notice to the
Holders and the Company, or the principal corporate trust office of any
successor Trustee.

 

The term “Corporation”
includes corporations, partnerships, associations, limited liability companies
and other companies, and business trusts. 
The term “corporation”
means a corporation and does not include partnerships, associations, limited
liability companies or other companies or business trusts.

 

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

 

“Currency”,
with respect to any payment, deposit or other transfer in respect of the
principal of or any premium or interest on or any Additional Amounts with
respect to any Security, means Dollars or the Foreign Currency, as the case may
be, in which such payment, deposit or other transfer is required to be made by
or pursuant to the terms hereof or such Security and, with respect to any other
payment, deposit or transfer pursuant to or contemplated by the terms hereof or
such Security, means Dollars.

 

“CUSIP number”
means the alphanumeric designation assigned to a Security by
Standard & Poor’s, CUSIP Service Bureau.

 

“Defaulted Interest”
has the meaning specified in Section 307.

 

“Depository”
means, with respect to any Security issuable or issued in the form of one or
more global Securities, the Person designated as depository by the Company in
or pursuant to this Indenture, and, unless otherwise provided with respect to
any Security, any successor to such Person. 
If at any time there is more than one such Person, “Depository” shall mean, with respect to any
Securities, the depository which has been appointed with respect to such
Securities.

 

“Dollars”
or “$” means a dollar or other
equivalent unit of legal tender for payment of public or private debts in the
United States of America.

 

“Euro”
means the currency introduced at the start of the third stage of European
economic and monetary union pursuant to the Treaty establishing European
Community, as amended by the Treaty on European Union.

 

“European Monetary
System” means the European Monetary System established by the
Resolution of December 5, 1978 of the Council of the European Community.

 

5

 

“European Union”
means the participating member states that adopt a single currency in
accordance with the Treaty establishing the European Community, as amended by
the Treaty on European Union.

 

“Event of Default”
has the meaning specified in Section 501.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, or any successor
thereto, in each case as amended from time to time.

 

“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.

 

“GAAP”
and “generally accepted accounting principles”
mean, unless otherwise specified with respect to any series of Securities
pursuant to Section 301, such accounting principles as are generally
accepted in the United States of America as of the date or time of any
computation required hereunder.

 

“Government
Obligations” means securities which are (i) direct obligations
of the United States of America or the other government or governments in the
confederation which issued the Foreign Currency in which the principal of or
any premium or interest on the relevant Security or any Additional Amounts in
respect thereof shall be payable, in each case where the payment or payments
thereunder are supported by the full faith and credit of such government or
governments or (ii) obligations of a Person controlled or supervised by
and acting as an agency or instrumentality of the United States of America or
such other government or governments, in each case where the timely payment or
payments thereunder are unconditionally guaranteed as a full faith and credit
obligation by the United States of America or such other government or
governments, and which, in the case of (i) or (ii), are not callable or
redeemable at the option of the issuer or issuers thereof, and shall also
include a depository receipt issued by a bank or trust company as custodian
with respect to any such Government Obligation or a specific payment of
interest on or principal of or other amount with respect to any such Government
Obligation held by such custodian for the account of the holder of a depository
receipt, provided that (except as required by law) such custodian is not
authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of the
Government Obligation or the specific payment of interest on or principal of or
other amount with respect to the Government Obligation evidenced by such
depository receipt.

 

“Guarantee”
means a guarantee of any Securities by a Guarantor as contemplated by Article Sixteen;
provided that the term “Guarantee”,
when used with respect to any Security or with respect to the Securities of any
series, means 

 

6

 

a guarantee of such Security or of the Securities of
such series, respectively, by a Guarantor of such Security or of the Securities
of such series, respectively, as contemplated by Article Sixteen.

 

“Guarantor”
means the Initial Guarantors and any other Person who shall have become a
Guarantor under this Indenture pursuant to Section 301 or 901 hereof, in
each case unless and until a successor Person shall have been substituted for
such Guarantor pursuant to the applicable provisions of this Indenture
established pursuant to Section 301 or 901, at which time references to
such Guarantor shall mean such successor Person; provided that the term “Guarantor”, when used, with respect to any
Security or the Securities of any series, means the Persons who shall from time
to time be the guarantors of such Security or the Securities of such series,
respectively, as contemplated by Article Sixteen.

 

“Guarantor’s Board
of Directors” means, with respect to any Guarantor, the board of
directors of such Guarantor or any committee of that board duly authorized to
act generally or in any particular respect for such Guarantor hereunder.

 

“Guarantor’s Board
Resolution” means, with respect to any Guarantor, a copy of one or
more resolutions, certified by the Secretary or an Assistant Secretary of such
Guarantor to have been duly adopted by such Guarantor’s Board of Directors and
to be in full force and effect on the date such certification is delivered to
the Trustee.

 

“Guarantor’s
Officers’ Certificate” means, with respect to any Guarantor, a
certificate signed by the Chairman, the Chief Executive Officer, the President
or a Vice President and by the Treasurer, an Assistant Treasurer, the Secretary
or an Assistant Secretary of such Guarantor, that complies with the
requirements of Section 314(e) of the Trust Indenture Act.  In the event that Guarantor’s Officers’
Certificates relating to the same matter shall be delivered by two or more
Guarantors on the same date, such certificates may be combined into a single
certificate, provided that the certifications made by each Guarantor therein shall
be several and not joint certifications of each such Guarantor.

 

“Guarantor Request”
and “Guarantor Order” mean,
respectively, with respect to any Guarantor, a written request or order, as the
case may be, signed in the name of such Guarantor by the Chairman, the Chief
Executive Officer, the President or a Vice President and by the Treasurer, an
Assistant Treasurer, the Secretary or an Assistant Secretary of such Guarantor,
and delivered to the Trustee.  In the event
that Guarantor’s Requests relating to the same matter shall be delivered by two
or more Guarantors on the same date, such requests may be combined into a
single document, provided that the requests made by each Guarantor therein
shall be several and not joint requests of each such Guarantor.

 

7

 

“Holder”,
in the case of any Registered Security, means the Person in whose name such
Security is registered in the Security Register and, in the case of any Bearer
Security, means the bearer thereof and, in the case of any Coupon, means the
bearer thereof.

 

“Indenture”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and, with respect to any
Security or Guarantee, by the terms and provisions of such Security and any
Coupon appertaining thereto or such Guarantee, as the case may be, established
pursuant to Section 301 (as such terms and provisions may be amended
pursuant to the applicable provisions hereof), provided, however, that, if at
any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any
one or more series of Securities for which such Person is Trustee, this
instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include the terms
of those particular series of Securities for which such Person is Trustee
established pursuant to Section 301, exclusive, however, of any provisions
or terms which relate solely to other series of Securities for which such
Person is not Trustee, regardless of when such terms or provisions were
adopted.

 

“Indexed Security”
means a Security the terms of which provide that the principal amount thereof
payable at Stated Maturity may be more or less than the principal face amount
thereof at original issuance.

 

“Initial Guarantor”
or “Initial Guarantors” means
Sealy Corporation, a Delaware corporation, Sealy Mattress Corporation, a
Delaware corporation, Sealy Mattress Company of Puerto Rico, an Ohio
corporation, Ohio-Sealy Mattress Manufacturing Co., Inc., a Massachusetts corporation,
Ohio-Sealy Mattress Manufacturing Co., a Georgia corporation, Sealy Mattress
Company of Kansas City, Inc., a Missouri corporation, Sealy Mattress
Company of Memphis, a Tennessee corporation, Sealy Mattress Company of
Illinois, an Illinois corporation, A. Brandwein & Company, an Illinois
corporation, Sealy Mattress Company of Albany, Inc., a New York
corporation, Sealy of Maryland and Virginia, Inc., a Maryland corporation,
Sealy of Minnesota, Inc., a Minnesota corporation, North American Bedding
Company, an Ohio corporation, Sealy, Inc., an Ohio corporation, The Ohio
Mattress Company Licensing and Components Group, a Delaware corporation, Sealy
Mattress Manufacturing Company, Inc., a Delaware corporation, Sealy
Technology LLC, a North Carolina limited liability company, Sealy
Korea, Inc., a Delaware corporation, Sealy Real Estate, Inc., a North
Carolina corporation, Sealy Texas Management, Inc., a Texas corporation,
Sealy Mattress Company of S.W. Virginia, a Virginia corporation, Western
Mattress Company, a California corporation, Advanced Sleep Products, a 

 

8

 

California corporation, Sealy
Components—Pads, Inc., a Delaware corporation, and Sealy Mattress Company
of Michigan, Inc., a Michigan corporation.

 

“interest”,
with respect to any Original Issue Discount Security which by its terms bears
interest only after Maturity, means interest payable after Maturity.

 

“Interest Payment
Date”, with respect to any Security, means the Stated Maturity of an
installment of interest on such Security.

 

“Judgment Currency”
has the meaning specified in Section 116.

 

“Maturity”,
with respect to any Security, means the date on which the principal of such
Security or an installment of principal becomes due and payable as provided in
or pursuant to this Indenture or such Security, whether at the Stated Maturity
or by declaration of acceleration, upon redemption at the option of the
Company, upon repurchase or repayment at the option of the Holder or otherwise,
and includes a Redemption Date for such Security and a date fixed for the
repurchase or repayment of such Security at the option of the Holder.

 

“New York Banking
Day” has the meaning specified in Section 116.

 

“Non-recourse Debt”
means any indebtedness the terms of which provide that the claim for repayment
of such indebtedness by the holder thereof is limited solely to a claim against
the property or assets (including, without limitation, securities or interests
in securities) that secure such indebtedness; provided, however, that any
obligations or liabilities of the debtor or obligor or any other person solely
for indemnities, covenants or breaches of warranties, representations or
covenants or similar matters in respect of any indebtedness will not prevent
such indebtedness from constituting Non-recourse Debt.

 

“Office”
or “Agency”, with respect to any
Securities, means an office or agency of the Company maintained or designated
in a Place of Payment for such Securities pursuant to Section 1002 or any
other office or agency of the Company maintained or designated for such
Securities pursuant to Section 1002 or, to the extent designated or
required by Section 1002 in lieu of such office or agency, the Corporate
Trust Office of the Trustee.

 

“Officers’
Certificate” means a certificate signed by the Chairman, the Chief
Executive Officer, the President, the Chief Financial Officer or a Vice
President and by the Treasurer, an Assistant Treasurer, the Secretary or an
Assistant Secretary of the Company, that complies with the requirements of
Section 314(e) of the Trust Indenture Act and is delivered to the
Trustee.

 

“Opinion of Counsel”
means a written opinion of counsel acceptable to the Trustee, who may be an
employee of or counsel for the Company or a 

 

9

 

Guarantor or other counsel that, if required by the
Trust Indenture Act, complies with the requirements of
Section 314(e) of the Trust Indenture Act.

 

“Original Issue
Discount Security” means a Security issued pursuant to this
Indenture which provides for an amount less than the principal face amount
thereof to be due and payable upon declaration of acceleration pursuant to
Section 502.

 

“Outstanding”,
when used with respect to any Securities, means, as of the date of determination,
all such Securities theretofore authenticated and delivered under this
Indenture, except:

 

(a)           any
such Security theretofore cancelled by the Trustee or the Security Registrar or
delivered to the Trustee or the Security Registrar for cancellation;

 

(b)           any
such Security for whose payment at the Maturity thereof money in the necessary
amount (or, to the extent that such Security is payable at such Maturity in
Common Shares or other securities or property, Common Shares or such other
securities or property in the necessary amount, together with, if applicable,
cash in lieu of fractional shares or securities) has been theretofore deposited
pursuant hereto (other than pursuant to Section 402) with the Trustee or
any Paying Agent (other than the Company) in trust or set aside and segregated
in trust by the Company (if the Company shall act as its own Paying Agent) for
the Holders of such Securities and any Coupons appertaining thereto, provided
that, if such Securities are to be redeemed, notice of such redemption has been
duly given pursuant to this Indenture or provision therefor satisfactory to the
Trustee has been made;

 

(c)           any
such Security with respect to which the Company has effected defeasance or
covenant defeasance pursuant to Section 402, except to the extent provided
in Section 402;

 

(d)           any
such Security which has been paid pursuant to Section 306 or in exchange
for or in lieu of which other Securities have been authenticated and delivered
pursuant to this Indenture, unless there shall have been presented to the
Trustee proof satisfactory to it that such Security is held by a bona fide
purchaser in whose hands such Security is a valid obligation of the Company;
and

 

(e)           any
such Security converted or exchanged as contemplated by this Indenture into
Common Shares or other securities or property, if the terms of such Security
provide for such conversion or exchange pursuant to Section 301;

 

provided, however,
that in determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, 

 

10

 

authorization, direction, notice, consent or waiver
hereunder or are present at a meeting of Holders of Securities for quorum
purposes, (i) the principal amount of an Original Issue Discount Security
that may be counted in making such determination and that shall be deemed to be
Outstanding for such purposes shall be equal to the amount of the principal
thereof that pursuant to the terms of such Original Issue Discount Security
would be declared (or shall have been declared to be) due and payable upon a
declaration of acceleration thereof pursuant to Section 502 at the time of
such determination, and (ii) the principal amount of any Indexed Security
that may be counted in making such determination and that shall be deemed
Outstanding for such purpose shall be equal to the principal face amount of
such Indexed Security at original issuance, unless otherwise provided in or
pursuant to this Indenture, and (iii) the principal amount of a Security
denominated in a Foreign Currency that may be counted in making such
determination and that shall be deemed Outstanding for such purposes shall be
the Dollar equivalent, determined on the date of original issuance of such Security,
of the principal amount (or, in the case of an Original Issue Discount
Security, the Dollar equivalent on the date of original issuance of such
Security of the amount determined as provided in (i) above) of such
Security, and (iv) Securities owned by the Company, a Guarantor of the
Securities or any other obligor upon the Securities, or any Affiliate of the
Company or any such Guarantor or such other obligor shall be disregarded and
deemed not to be Outstanding, except that, in determining whether the Trustee
shall be protected in making any such determination or relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only
Securities which a Responsible Officer of the Trustee knows to be so owned
shall be so disregarded.  Securities so
owned which shall have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee
(A) the pledgee’s right so to act with respect to such Securities and
(B) that the pledgee is not the Company or a Guarantor of the Securities
or any other obligor upon the Securities or any Coupons appertaining thereto or
an Affiliate (other than a Trust) of the Company or a Guarantor of the
Securities or such other obligor.

 

“Paying Agent”
means any Person authorized by the Company to pay the principal of, or any
premium or interest on, or any Additional Amounts with respect to, any Security
or any Coupon on behalf of the Company.

 

“Person”
and “person” mean any individual,
Corporation, joint venture, joint-stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof.

 

“Place of Payment”,
with respect to any Security, means the place or places where the principal of,
or any premium or interest on, or any Additional Amounts with respect to such
Security are payable as provided in or pursuant to this Indenture or such
Security.

 

11

 

“Predecessor
Security” of any particular Security means every previous Security
evidencing all or a portion of the same indebtedness as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 306 in exchange for or in lieu
of a lost, destroyed, mutilated or stolen Security or any Security to which a
mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to
evidence the same indebtedness as the lost, destroyed, mutilated or stolen
Security or the Security to which a mutilated, destroyed, lost or stolen Coupon
appertains.

 

“Redemption Date”,
with respect to any Security or portion thereof to be redeemed, means the date
fixed for such redemption by or pursuant to this Indenture or such Security.

 

“Redemption Price”,
with respect to any Security or portion thereof to be redeemed, means the price
at which it is to be redeemed as determined by or pursuant to this Indenture or
such Security.

 

“Registered Security”
means any Security established pursuant to Section 201 which is registered
in the Security Register.

 

“Regular Record Date”
for the interest payable on any Registered Security on any Interest Payment
Date therefor means the date, if any, specified in or pursuant to this
Indenture or such Security as the record date for the payment of such interest.

 

“Required Currency”
has the meaning specified in Section 116.

 

“Responsible Officer”
means any officer of the Trustee in its Corporate Trust Office having direct
responsibility for matters pertaining to this Indenture and also means, with
respect to a particular corporate trust matter, any other officer or employee
of the Trustee to whom such matter is referred because of his or her knowledge
of and familiarity with the particular subject.

 

“Securities Act”
means the Securities Act of 1933, as amended, or any successor thereto, in each
case as amended from time to time.

 

“Security”
or “Securities” means any note or
notes, bond or bonds, debenture or debentures, or any other evidences of
indebtedness, as the case may be, authenticated and delivered under this
Indenture; provided, however, that, if at any time there is more than one
Person acting as Trustee under this Indenture, “Securities”, with respect to any such Person, shall mean
Securities authenticated and delivered under this Indenture, exclusive,
however, of Securities of any series as to which such Person is not Trustee.

 

12

 

“Security Register”
and “Security Registrar” have the
respective meanings specified in Section 305.

 

“Significant
Subsidiary” means, as of any date of determination, a Subsidiary of
the Company that would constitute a “significant
subsidiary,” as such term is defined under Rule 1-02(w) of
Regulation S-X of the Commission as in effect on the date of this Indenture.

 

“Special Record Date”
for the payment of any Defaulted Interest on any Registered Security means a
date fixed by the Trustee pursuant to Section 307.

 

“Stated Maturity”,
with respect to any Security or any installment of principal thereof or
interest thereon or any Additional Amounts with respect thereto, means the date
established by or pursuant to this Indenture or such Security as the fixed date
on which the principal of such Security or such installment of principal or
interest is, or such Additional Amounts are, due and payable.

 

“Subsidiary”
means, with respect to any Person, (i) any corporation, association or
other business entity of which more than 50% of the total voting power of
shares of capital stock or other equity interests entitled (without regard to
the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of such
Person (or a combination thereof) and (ii) any partnership (A) the
sole general partner or managing general partner of which is such Person or a
Subsidiary of such Person or (B) the only general partners of which are
such Person or one or more Subsidiaries of such Person (or any combination
thereof).

 

“Trust Indenture Act”
means the Trust Indenture Act of 1939, as amended, and any reference herein to
the Trust Indenture Act or a particular provision thereof shall mean such Act
or provision, as the case may be, as amended or replaced from time to time or
as supplemented from time to time by rules or regulations adopted by the
Commission under or in furtherance of the purposes of such Act or provision, as
the case may be.

 

“Trustee”
means the Person named as the “Trustee”
in the first paragraph of this instrument until a successor Trustee shall have
become such with respect to one or more series of Securities pursuant to the
applicable provisions of this Indenture, and thereafter “Trustee” shall mean each Person who is then
a Trustee hereunder; provided, however, that if at any time there is more than
one such Person, “Trustee” shall
mean each such Person and as used with respect to the Securities of any series
shall mean the Trustee with respect to the Securities of such series.

 

13

 

“United States”,
means the United States of America (including the states thereof and the
District of Columbia), its territories, its possessions and other areas subject
to its jurisdiction; and the term “United
States of America” means the United States of America.

 

“United States Alien”,
except as otherwise provided in or pursuant to this Indenture or any Security,
means any Person who, for United States Federal income tax purposes, is a
foreign corporation, a non-resident alien individual, a non-resident alien
fiduciary of a foreign estate or trust, or a foreign partnership one or more of
the members of which is, for United States Federal income tax purposes, a
foreign corporation, a non-resident alien individual or a non-resident alien
fiduciary of a foreign estate or trust.

 

“Vice President”,
when used with respect to the Company or the Trustee, means any vice president,
whether or not designated by a number or a word or words added before or after
the title “Vice President”.

 

Section 102.           Compliance
Certificates and Opinions.  Except as otherwise expressly
provided in or pursuant to this Indenture, upon any application or request by
the Company or a Guarantor to the Trustee to take any action under any
provision of this Indenture, the Company or such Guarantor, as the case may be,
shall furnish to the Trustee an Officers’ Certificate or a Guarantor’s
Officers’ Certificate, as the case may be, stating that all conditions
precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with and an Opinion of Counsel stating that, in the
opinion of such counsel, all such conditions precedent, if any, have been
complied with, except that in the case of any such application or request as to
which the furnishing of such documents or any of them is specifically required
by any provision of this Indenture relating to such particular application or
request, no additional certificate or opinion need be furnished.

 

Section 103.           Form of
Documents Delivered to Trustee.  In any case
where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be
certified by, or covered by the opinion of, only one such Person, or that they
be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents.

 

Any certificate or opinion of an officer of the
Company or a Guarantor may be based, insofar as it relates to legal matters,
upon an Opinion of Counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the opinion with respect to the matters upon
which his certificate or opinion is based is erroneous.  Any such Opinion of Counsel may be based,
insofar as it

 

14

 

relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Company, a
Guarantor, a governmental official or officers or any other Person or Persons
stating that the information with respect to such factual matters is in the
possession of the Company or such Guarantor, as the case may be, unless such
counsel knows, or in the exercise of reasonable care should know, that the
certificate, opinion or representations with respect to such matters are erroneous.

 

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

 

Section 104.           Acts
of Holders.  (a) Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by or pursuant to this Indenture to be made, given or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing.  If, but only
if, Securities of a series are issuable as Bearer Securities, any request,
demand, authorization, direction, notice, consent, waiver or other action
provided in or pursuant to this Indenture to be made, given or taken by Holders
of Securities of such series may, alternatively, be embodied in and evidenced
by the record of Holders of Securities of such series voting in favor thereof,
either in person or by proxies duly appointed in writing, at any meeting of
Holders of Securities of such series duly called and held in accordance with
the provisions of Article Fifteen, or a combination of such instruments
and any such record.  Except as herein
otherwise expressly provided, such action shall become effective when such
instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Company and the Guarantors.  Such instrument or instruments and any such
record (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Act”
of the Holders signing such instrument or instruments or so voting at any such
meeting.  Proof of execution of any such
instrument or of a writing appointing any such agent, or of the holding by any
Person of a Security, shall be sufficient for any purpose of this Indenture and
(subject to Section 315 of the Trust Indenture Act) conclusive in favor of
the Trustee, the Company or a Guarantor and any agent of the Trustee, the
Company or such Guarantor, if made in the manner provided in this Section.  The record of any meeting of Holders of
Securities shall be proved in the manner provided in Section 1506.

 

Without limiting the generality of this
Section 104, unless otherwise provided in or pursuant to this Indenture, a
Holder, including a Depository that is a Holder of a global Security, may make,
give or take, by a proxy or proxies, duly appointed in writing, any request,
demand, authorization, direction, notice, consent, waiver or other Act provided
in or pursuant to this Indenture or the 

 

15

 

Securities to be made, given or taken by Holders, and
a Depository that is a Holder of a global Security may provide its proxy or
proxies to the beneficial owners of interests in any such global Security
through such Depository’s standing instructions and customary practices.

 

(b)           The fact and date of the execution by
any Person of any such instrument or writing may be proved in any reasonable
manner which the Trustee deems sufficient and in accordance with such
reasonable rules as the Trustee may determine; and the Trustee may in any
instance require further proof with respect to any of the matters referred to
in this Section.

 

(c)           The ownership, principal amount and
serial numbers of Registered Securities held by any Person, and the date of the
commencement and the date of the termination of holding the same, shall be
proved by the Security Register.

 

(d)           The ownership, principal amount and
serial numbers of Bearer Securities held by any Person, and the date of the
commencement and the date of the termination of holding the same, may be proved
by the production of such Bearer Securities or by a certificate executed, as
depositary, by any trust company, bank, banker or other depositary reasonably
acceptable to the Company, wherever situated, if such certificate shall be
deemed by the Company and the Trustee to be satisfactory, showing that at the
date therein mentioned such Person had on deposit with such depositary, or
exhibited to it, the Bearer Securities therein described; or such facts may be
proved by the certificate or affidavit of the Person holding such Bearer
Securities, if such certificate or affidavit is deemed by the Company and the
Trustee to be satisfactory.  The Trustee,
the Company and the Guarantors may assume that such ownership of any Bearer
Security continues until (i) another certificate or affidavit bearing a later
date issued in respect of the same Bearer Security is produced, or
(ii) such Bearer Security is produced to the Trustee by some other Person,
or (iii) such Bearer Security is surrendered in exchange for a Registered
Security, or (iv) such Bearer Security is no longer Outstanding.  The ownership, principal amount and serial
numbers of Bearer Securities held by the Person so executing such instrument or
writing and the date of the commencement and the date of the termination of
holding the same may also be proved in any other manner which the Company, the
Guarantors and the Trustee deem sufficient.

 

(e)           If the Company shall solicit from the
Holders of any Registered Securities any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may at its option
(but is not obligated to), by Board Resolution fix in advance a record date for
the determination of Holders of Registered Securities entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other
Act.  If such a record date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or
other Act may be given before or after such record date, but only the Holders
of Registered 

 

16

 

Securities of record at the close of business on such
record date shall be deemed to be Holders for the purpose of determining
whether Holders of the requisite proportion of Outstanding Securities have
authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the
Outstanding Securities shall be computed as of such record date; provided that
no such authorization, agreement or consent by the Holders of Registered
Securities shall be deemed effective unless it shall become effective pursuant
to the provisions of this Indenture not later than six months after the record
date.

 

(f)            Any request, demand, authorization,
direction, notice, consent, waiver or other Act by the Holder of any Security
shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done or suffered to be done
by the Trustee, any Security Registrar, any Paying Agent or the Company in
reliance thereon, whether or not notation of such Act is made upon such
Security.

 

Section 105.           Notices,
Etc., to Trustee, Company and Guarantors.  Any request, demand, authorization,
direction, notice, consent, waiver or other Act of Holders or other document
provided or permitted by this Indenture to be made upon, given or furnished to,
or filed with,

 

(a)           the Trustee by any Holder, a
Guarantor or the Company shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing to or with the Trustee at its
Corporate Trust Office, or

 

(b)           the Company or a Guarantor by the
Trustee or any Holder shall be sufficient for every purpose hereunder (unless
otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company or such Guarantor, as the case may be,
addressed to the attention of its Chief Financial Officer at the address of the
Company’s principal office specified in the first paragraph of this instrument
or at any other address previously furnished in writing to the Trustee by the
Company or such Guarantor, as the case may be.

 

Section 106.           Notice
to Holders of Securities; Waiver. 
Except as otherwise expressly provided in or pursuant to this Indenture,
where this Indenture provides for notice to Holders of Securities of any event,

 

(a)           such notice shall be sufficiently
given to Holders of Registered Securities if in writing and mailed, first-class
postage prepaid, to each Holder of a Registered Security affected by such
event, at his address as it appears in the Security Register, not later than
the latest date, and not earlier than the earliest date, prescribed for the
giving of such notice; and

 

17

 

(b)           such notice shall be sufficiently
given to Holders of Bearer Securities, if any, if published in an Authorized
Newspaper in The City of New York and, if such Securities are then listed on
any stock exchange outside the United States, in an Authorized Newspaper in
such city as the Company shall advise the Trustee that such stock exchange so
requires, on a Business Day at least twice, the first such publication to be
not earlier than the earliest date and the second such publication not later
than the latest date prescribed for the giving of such notice.

 

In any case where notice to Holders of Registered
Securities is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Holder of a Registered
Security shall affect the sufficiency of such notice with respect to other
Holders of Registered Securities or the sufficiency of any notice to Holders of
Bearer Securities given as provided herein. 
Any notice which is mailed in the manner herein provided shall be
conclusively presumed to have been duly given or provided.  In the case by reason of the suspension of
regular mail service or by reason of any other cause it shall be impracticable
to give such notice by mail, then such notification as shall be made with the
approval of the Trustee shall constitute a sufficient notification for every
purpose hereunder.

 

In case by reason of the suspension of publication of
any Authorized Newspaper or Authorized Newspapers or by reason of any other
cause it shall be impracticable to publish any notice to Holders of Bearer
Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute
sufficient notice to such Holders for every purpose hereunder.  Neither failure to give notice by publication
to Holders of Bearer Securities as provided above, nor any defect in any notice
so published, shall affect the sufficiency of any notice mailed to Holders of Registered
Securities as provided above.

 

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 of Securities 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.

 

Anything herein to the contrary notwithstanding,
unless otherwise expressly stated in this Indenture or pursuant to
Section 301 with respect to the Securities of any series, if a Depository
or its nominee is the Holder of any Security, then any notice given to such
Depository or its nominee, as the case may be, in respect of such Security may
be given electronically in accordance with the procedures of such Depository as
in effect from time to time in lieu of giving notice to such Depository or such
nominee, as the case may be, by mail and all 

 

18

 

references in this Indenture to the mailing of any
such notice shall be deemed to mean, solely as concerns the notice given to
such Depository or its nominee, as the case may be, the electronic transmission
of such notice as aforesaid, mutatis  mutandis.

 

Section 107.           Language
of Notices.  Any request,
demand, authorization, direction, notice, consent, election or waiver required
or permitted under this Indenture shall be in the English language, except
that, if the Company so elects, any published notice may be in an official
language of the country of publication.

 

Section 108.           Conflict
With Trust Indenture Act.  If
any provision hereof limits, qualifies or conflicts with any duties under any
required provision of the Trust Indenture Act imposed hereon by
Section 318(c) thereof, such required provision shall control.

 

Section 109.           Effect
of Headings and Table of Contents. 
The Article and Section headings herein and the Table of
Contents are for convenience only and shall not affect the construction hereof.

 

Section 110.           Successors
and Assigns .  All covenants
and agreements in this Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

 

Section 111.           Separability
Clause.  In case any provision
in this Indenture, any Security or any Coupon shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not, to the fullest extent permitted by law, in any way be
affected or impaired thereby.

 

Section 112.           Benefits
of Indenture.  Nothing in this
Indenture, any Security or any Coupon, express or implied, shall give to any
Person, other than the parties hereto, any Security Registrar, any Paying Agent
and their successors hereunder and the Holders of Securities or Coupons, any
benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 113.           Governing
Law.  This Indenture, the
Securities, and Guarantees endorsed on the Securities and any Coupons shall be
governed by and construed in accordance with the laws of the State of New York
applicable to agreements made or instruments entered into and, in each case,
performed in said State.

 

Section 114.           Legal
Holidays.  Unless otherwise
specified in or pursuant to this Indenture or any Securities, in any case where
any Interest Payment Date, Stated Maturity or Maturity of, or any other day on
which a payment is due with respect to, any Security shall be a day which is
not a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture, any 

 

19

 

Security or any Coupon other than a provision in any
Security or Coupon or in the Board Resolution, Officers’ Certificate or
supplemental indenture establishing the terms of any Security that specifically
states that such provision shall apply in lieu hereof) payment need not be made
at such Place of Payment on such date, but such payment may be made on the next
succeeding day that is a Business Day at such Place of Payment with the same
force and effect as if made on the Interest Payment Date, at the Stated
Maturity or Maturity or on any such other payment date, as the case may be, and
no interest shall accrue on the amount payable on such date or at such time for
the period from and after such Interest Payment Date, Stated Maturity, Maturity
or other payment date, as the case may be, to the next succeeding Business Day.

 

Section 115.           Counterparts.  This Indenture may be executed in several counterparts,
each of which shall be an original and all of which shall constitute but one
and the same instrument.

 

Section 116.           Judgment
Currency.  Each of the Company
and each Guarantor agrees, to the fullest extent that it may effectively do so
under applicable law, that (a) if for the purpose of obtaining judgment
against it in any court, it is necessary to convert the sum due in respect of
the principal of, or premium or interest, if any, or Additional Amounts on the
Securities of any series (in the case of the Company) or any Guarantee of such
Guarantor (in the case of such Guarantor), as the case may be (the “Required Currency”), into a currency in
which a judgment will be 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 New
York Banking Day preceding that on which a final unappealable judgment is given
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 clause (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 obligated by law, regulation or executive order to be
closed.  The provisions of this
Section 116 shall not be applicable with respect to any payment due on a
Security or Guarantee which is payable in Dollars.

 

20

 

Section 117.           Extension
of Payment Dates.  In the
event that (i) the terms of any Security or Coupon appertaining thereto or
any Guarantee established in or pursuant to this Indenture permit the Company,
any Guarantor or any Holder thereof to extend the date on which any payment of
principal of, or premium, if any, or interest, if any, on, or Additional
Amounts, if any, with respect to such Security, Coupon or Guarantee, as the
case may be, is due and payable and (ii) the due date for any such payment
shall have been so extended, then all references herein to the Stated Maturity
of such payment (and all references of like import) shall be deemed to refer to
the date as so extended.

 

Section 118.           Immunity
of Shareholders, Directors, Officers and Agents of the Company and Any
Guarantor.  No recourse under
or upon any obligation, covenant or agreement contained in this Indenture or in
any Security or Guarantee, or because of any indebtedness evidenced thereby, or
for any claim based thereon or otherwise in respect thereof, shall be had
against any past, present or future shareholder, incorporator, employee,
officer or director, as such, of the Company or any Guarantor or any
predecessor or successor to the Company or any Guarantor, either directly or
through the Company or any Guarantor or any such predecessor or 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 by the Holders and as part of the consideration for the issue of the
Securities; it being expressly understood that, without limitation to the
foregoing, this Indenture, the Securities and the Guarantees and the
obligations created hereunder and thereunder are solely corporate, limited
liability company, partnership, limited partnership or similar obligations, as
the case may be, of the Company and the respective Guarantors and that no such
personal liability whatever shall attach to, or is or shall be incurred by, any
past, present or future shareholder, incorporator, employee, officer or
director, as such, of the Company or any Guarantor or any of their respective
predecessors or successors, or any of them, because of the creation of the
indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any Security or
Guarantee or implied herefrom or therefrom and that any and all such personal
liability of every type and nature, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against,
every such past, present or future shareholder, incorporator, employee, officer
or director, as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any Security or Guarantee or implied herefrom
or therefrom, are hereby expressly waived and released as a condition of, and
as a consideration for, the execution of this Indenture and the issuance of the
Securities.  As used in this
Section 118, all references to “shareholders”
shall be deemed to mean, with respect to any Person, any  past, present or future holder or owner of an
equity interest in such Person, including, without limitation, owners 

 

21

 

or holders of capital stock, limited or general partnership
interests and limited liability company interests.

 

Section 119.           Waiver
of Jury Trial.  EACH OF THE
COMPANY, EACH GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 120.           Force
Majeure.  In no event shall
the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including, without limitation, strikes,
work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer
(software and hardware) services; it being understood that the Trustee shall
use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the
circumstances.

 

ARTICLE 2

SECURITIES FORMS

 

Section 201.           Forms
Generally.  Each Registered
Security, Bearer Security, Coupon and temporary or permanent global Security
issued pursuant to this Indenture shall be in the form established by or
pursuant to a Board Resolution and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental hereto, and any Guarantee
endorsed on or attached to any Security issued pursuant to this Indenture shall
be in the form established by or pursuant to a Guarantor’s Board Resolution and
set forth in a Guarantor’s Officers’ Certificate, or established in one or more
indentures supplemental hereto, and in each case shall have such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by or pursuant to this Indenture or any indenture supplemental hereto
and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may, consistently herewith, be
determined by any officer of the Company executing such Security or Coupon as
evidenced by the execution of such Security or Coupon.

 

Unless otherwise provided in or pursuant to this
Indenture or any Securities, the Securities shall be issuable in registered
form without Coupons.

 

22

 

Definitive Securities and definitive Coupons
(including, without limitation, any Guarantees endorsed thereon or attached
thereto) shall be printed, lithographed or engraved or produced by any
combination of these methods on a steel engraved border or steel engraved
borders or may be produced in any other manner, all as determined by the
officers of the Company executing such Securities or Coupons, as evidenced by
their execution of such Securities or Coupons.

 

Anything herein to the contrary notwithstanding, there
shall be no requirement that any Security have endorsed thereon or attached
thereto a Guarantee or a notation of a Guarantee, but such a Guarantee or
notation of a Guarantee may be endorsed thereon or attached thereto as
contemplated by this Section 201.

 

Section 202.           Form of
Trustee’s Certificate of Authentication.  Subject to Section 611, the Trustee’s
certificate of authentication shall be in substantially the following form:

 

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

 

	
   

  	
   

  	
  The Bank of New York Mellon Trust Company, N.A.,

  	 

	 
	
   

  	
   

  	
   

  
	 
	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  By:

  	
   

  	 

	
   

  	
   

  	
   

  	
  Authorized Signature

  	 

									

 

Section 203.           Securities
in Global Form.  Unless
otherwise provided in or pursuant to this Indenture or any Securities, the
Securities shall not be issuable in global form.  If Securities of a series shall be issuable
in temporary or permanent global form, any such Security may provide that it or
any number of such Securities shall represent the aggregate amount of all
Outstanding Securities of such series (or such lesser amount as is permitted by
the terms thereof) from time to time endorsed thereon or reflected on the books
and records of the Trustee and may also provide that the aggregate amount of
Outstanding Securities represented thereby may from time to time be increased
or reduced to reflect exchanges.  Any
endorsement of any Security in global form to reflect the amount, or any
increase or decrease in the amount, or changes in the rights of Holders, of
Outstanding Securities represented thereby shall be made in such manner and by
such Person or Persons as shall be specified therein or pursuant to
Section 301 with respect to such Security or in the Company Order to be
delivered pursuant to Section 303 or 304 with respect thereto.  Subject to the provisions of Section 303
and, if applicable, Section 304, the Trustee shall deliver and redeliver
any Security in 

 

23

 

global form in the manner and upon instructions given
by the Person or Persons specified therein or pursuant to Section 301 with
respect to such Security or in the applicable Company Order.  Notwithstanding the foregoing provisions of
this paragraph, in the event a global Security is exchangeable for definitive
Securities as provided in Section 305, then, unless otherwise provided in
or pursuant to this Indenture with respect to the Securities of such series,
the Trustee shall deliver and redeliver such global Security to the extent
necessary to effect such exchanges, shall endorse such global Security to
reflect any decrease in the principal amount thereto resulting from such
exchanges and shall take such other actions, all as contemplated by
Section 305.

 

Notwithstanding the provisions of Section 307,
unless otherwise specified in or pursuant to this Indenture or any Securities,
payment of principal of, any premium and interest on, and any Additional
Amounts in respect of, any Security in temporary or permanent global form shall
be made to the Person or Persons specified therein.

 

Notwithstanding the provisions of Section 308 and
except as provided in the preceding paragraph, the Company, the Trustee and any
agent of the Company and the Trustee shall treat as the Holder of such
principal amount of Outstanding Securities represented by a global Security
(i) in the case of a global Security in registered form, the Holder of
such global Security in registered form, or (ii) in the case of a global
Security in bearer form, the Person or Persons specified pursuant to
Section 301.

 

ARTICLE 3

THE SECURITIES

 

Section 301.           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.

 

With respect to any Securities to be authenticated and
delivered hereunder, there shall be established in or pursuant to one or more
Board Resolutions and Guarantor’s Board Resolutions, and set forth in an
Officers’ Certificate and one or more Guarantor’s Officers’ Certificates, or
established in one or more indentures supplemental hereto, prior to the
issuance of any Securities of a series,

 

(a)           the title of the Securities of such
series;

 

(b)           any limit upon the aggregate
principal amount of the Securities of such series which 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 such series pursuant to Section 304,

 

24

 

305, 306, 905 or 1107, upon repayment in part of any
Security of such series pursuant to Article Thirteen or upon surrender in
part of any Security for conversion or exchange into Common Shares or other
securities or property pursuant to its terms), and if such series may not be
reopened from time to time for the issuance of additional Securities of such
series;

 

(c)           if such Securities are to be issuable
as Registered Securities, as Bearer Securities or alternatively as Bearer
Securities and Registered Securities, and whether the Bearer Securities are to
be issuable with Coupons, without Coupons or both, and any restrictions
applicable to the offer, sale or delivery of the Bearer Securities and the
terms, if any, upon which Bearer Securities may be exchanged for Registered
Securities and vice versa;

 

(d)           if any of such Securities are to be
issuable in global form, when any of such Securities are to be issuable in
global form and (i) whether such Securities are to be issued in temporary
or permanent global form or both, (ii) whether beneficial owners of
interests in any such global Security may exchange such interests for
Securities of the same series and of like tenor and of any authorized form and
denomination, and the circumstances under which any such exchanges may occur,
if other than in the manner specified in Section 305, (iii) the name
of the Depository with respect to any such global Security and (iv) if
applicable and in addition to the Persons specified in Section 305, the
Person or Persons who shall be entitled to make any endorsements on any such
global Security and to give the instructions and take the other actions with
respect to such global Security contemplated by the first paragraph of Section 203;

 

(e)           if any of such Securities are to be
issuable as Bearer Securities, the date as of which any such Bearer Security
shall be dated (if other than the date of original issuance of the first of
such Securities to be issued);

 

(f)            if any of such Securities are to be
issuable as Bearer Securities, whether interest in respect of any portion of a
temporary Bearer Security in global form payable in respect of an Interest
Payment Date therefor prior to the exchange, if any, of such temporary Bearer
Security for definitive Securities shall be paid to any clearing organization
with respect to the portion of such temporary Bearer Security held for its
account and, in such event, the terms and conditions (including any
certification requirements) upon which any such interest payment received by a
clearing organization will be credited to the Persons entitled to interest
payable on such Interest Payment Date;

 

(g)           the date or dates, or the method or
methods, if any, by which such date or dates shall be determined, on which the
principal and premium, if any, of such Securities is payable;

 

25

 

(h)           the rate or rates at which such
Securities shall bear interest, if any, or the method or methods, if any, by
which such rate or rates are to be determined, the date or dates, if any, from
which such interest shall begin to accrue or the method or methods, if any, by
which such date or dates are to be determined, the Interest Payment Dates, if
any, on which such interest shall be payable and the Regular Record Date, if any,
for the interest payable on Registered Securities on any Interest Payment Date,
the notice, if any, to Holders regarding the determination of interest on a
floating rate Security and the manner of giving such notice, and the basis upon
which interest shall be calculated if other than that of a 360-day year of
twelve 30-day months;

 

(i)            if in addition to or other than the
place where the Corporate Trust Office of the Trustee may from time to time be
located, the place or places where the principal of, premium, if any, and
interest, if any, on, and Additional Amounts, if any, with respect to, such
Securities shall be payable, any of such Securities that are Registered
Securities may be surrendered for registration of transfer or exchange, any of
such Securities may be surrendered for conversion or exchange and notices or
demands to or upon the Company in respect of such Securities and this Indenture
may be served;

 

(j)            whether any of such Securities are
to be redeemable at the option of the Company and, if so, the date or dates on
which, the period or periods within which, the price or prices at which and the
other terms and conditions upon which such Securities may be redeemed, in whole
or in part, at the option of the Company;

 

(k)           if the Company is obligated to redeem
or purchase any of such Securities pursuant to any sinking fund or analogous
provision or at the option of any Holder thereof and, if so, the date or dates
on which, the period or periods within which, the price or prices at which and
the other terms and conditions upon which such Securities shall be redeemed or
purchased, in whole or in part, pursuant to such obligation, and any provisions
for the remarketing of such Securities so redeemed or purchased;

 

(l)            the denominations in which any of
such Securities that are Registered Securities shall be issuable if other than
denominations of $1,000 and any integral multiples thereof, and the
denominations in which any of such Securities that are Bearer Securities shall
be issuable if other than the denomination of $5,000;

 

(m)          whether the Securities of the series
will be convertible into and/or exchangeable for Common Shares or other
securities or property, and if so, the terms and conditions upon which such
Securities will be so convertible or exchangeable, and any deletions from or
modifications or additions to this

 

26

 

Indenture to permit or to facilitate the issuance of
such convertible or exchangeable Securities or the administration thereof;

 

(n)           if other than the principal amount
thereof, the portion of the principal amount of any of such Securities that
shall be payable upon declaration of acceleration of the Maturity thereof
pursuant to Section 502 or the method by which such portion is to be determined;

 

(o)           if other than Dollars, the Foreign
Currency in which payment of the principal of, any premium or interest on or
any Additional Amounts with respect to any of such Securities shall be payable;

 

(p)           if the principal of, any premium or
interest on or any Additional Amounts with respect to any of such Securities
are to be payable, at the election of the Company or a Holder thereof or
otherwise, in Dollars or in a Foreign Currency other than that in which such
Securities are stated to be payable, the date or dates on which, the period or
periods within which, and the other terms and conditions upon which, such
election may be made, and the time and manner of determining the exchange rate
between the Currency in which such Securities are stated to be payable and the
Currency in which such Securities or any of them are to be paid pursuant to
such election, and any deletions from or modifications of or additions to the
terms of this Indenture to provide for or to facilitate the issuance of
Securities denominated or payable, at the election of the Company or a Holder
thereof or otherwise, in a Foreign Currency;

 

(q)           if the amount of payments of
principal of, any premium or interest on or any Additional Amounts with respect
to such Securities may be determined with reference to an index, formula or
other method or methods (which index, formula or method or methods may be
based, without limitation, on one or more Currencies, commodities, equity
indices or other indices), and, if so, the terms and conditions upon which and
the method by which such amounts shall be determined and paid or payable;

 

(r)            any deletions from, modifications of
or additions to the Events of Default or covenants of the Company or any
Guarantors with respect to such Securities or the related Guarantees (whether
or not such Events of Default or covenants are consistent with the Events of
Default or covenants set forth herein), and, if any additional covenants not
contained in this Indenture as of its date shall be applicable with respect to
such Securities, whether Section 1006 shall be applicable with respect to
any such additional covenants;

 

(s)           if any one or more of Section 401
relating to satisfaction and discharge, Section 402(b) relating to
defeasance or Section 402(c) relating to covenant defeasance shall
not be applicable to the Securities of such series, and any covenants in
addition to or other than those covenants, if any, specified in

 

27

 

Section 402(c)) relating to the Securities of
such series which shall be subject to covenant defeasance, and, if the
Securities of such series are subject to repurchase or repayment at the option
of the Holders thereof pursuant to Article Thirteen, if the Company’s
obligation to repurchase or repay such Securities will not be subject to
satisfaction and discharge pursuant to Section 401 or to defeasance
pursuant to Section 402, and, if the Holders of such Securities have the
right to convert or exchange such Securities into Common Shares or other securities
or property, if the right to effect such conversion or exchange will be subject
to satisfaction and discharge pursuant to Section 401 or to defeasance or
covenant defeasance pursuant to Section 402, and any deletions from, or
modifications or additions to, the provisions of Article Four in respect
of the Securities of such series;

 

(t)            if any of such Securities are to be
issuable upon the exercise of warrants, and the time, manner and place for such
Securities to be authenticated and delivered;

 

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

 

(v)           whether and under what circumstances
the Company or any Guarantor of such Securities will pay Additional Amounts on
such Securities or its Guarantee of such Securities, as the case may be, to any
Holder who is a United States Alien in respect of specified taxes, assessments
or other government charges and, if so, whether the Company will have the
option to redeem such Securities rather than pay such Additional Amounts;

 

(w)          if there is more than one Trustee, the
identity of the Trustee and, if not the Trustee, the identity of each Security
Registrar, Paying Agent or Authenticating Agent with respect to such
Securities;

 

(x)            the Person to whom any interest on
any Registered Security of such series shall be payable, if other than the
Person in whose name the Registered Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, the manner in which, or the Person to whom, any interest on
any Bearer Security of such series shall be payable, if other than upon
presentation and surrender of the Coupons appertaining thereto as they
severally mature, and the extent to which, or the manner in which, any interest
payable on a temporary global Security will be paid if other than in the manner
provided in this Indenture;

 

28

 

(y)           the names of the Guarantors of the
Securities of such series (which may, but need not, include any or all of the
Initial Guarantors) and the terms of the Guarantees of the Securities of such
series, including, without limitation, any deletions from, or modifications or
additions to, the provisions of Article Sixteen or any other provisions of
this Indenture in connection with the Guarantees of the Securities of such
series;

 

(z)            whether the Securities of such
series or any Guarantees of such Securities are to be secured by any property,
assets or other collateral and, if so, the applicable collateral, any deletions
from, or modifications or additions to, the provisions of Article Seventeen
hereof or any other provisions of this Indenture in connection therewith or in
connection with any other instrument or agreement entered into in connection therewith;
and

 

(aa)         any other terms of such Securities and
the Guarantees of such Securities (whether or not such other terms are
consistent or inconsistent with any other terms of this Indenture) and any
deletions from or modifications or additions to this Indenture in respect of
such Securities or such Guarantees.

 

All Securities of any one series and all Coupons, if
any, appertaining to Bearer Securities of such series shall be substantially
identical except as to Currency of payments due thereunder, denomination and
the rate of interest, or method of determining the rate of interest, if any,
Maturity, and the date from which interest, if any, shall accrue and except as
may otherwise be provided by the Company in or pursuant to the Board Resolution
and set forth in the Officers’ Certificate or in any indenture or indentures
supplemental hereto pertaining to such series of Securities.  The terms of the Securities of any series may
provide, without limitation, that the Securities shall be authenticated and delivered
by the Trustee on original issue from time to time upon written order of
persons designated in the Board Resolution, Officers’ Certificate or
supplemental indenture, as the case may be, pertaining to such series of
Securities and that such persons are authorized to determine, consistent with
such Board Resolution, Officers’ Certificate or supplemental indenture, such
terms and conditions of the Securities of such series as are specified in such
Board Resolution, Officers’ Certificate or supplemental indenture.  All Securities of any one series need not be
issued at the same time and, unless otherwise provided by the Company as
contemplated by this Section 301, a series may be reopened from time to
time without the consent of any Holders for issuances of additional Securities
of such series.

 

If any of the terms of the Securities of any series or
any Guarantee of the Securities of any series shall be established by action
taken by or pursuant to one or more Board Resolutions or Guarantor’s Board
Resolutions, such Board Resolutions and Guarantor’s Board Resolutions shall be
delivered to the Trustee

 

29

 

at or prior to the delivery of the Officers’
Certificate and the Guarantor’s Officers’ Certificate setting forth the terms
of such series.

 

Section 302.           Currency;
Denominations.  Unless otherwise provided in or pursuant to
this Indenture, the principal of, any premium and interest on and any
Additional Amounts with respect to the Securities shall be payable in
Dollars.  Unless otherwise provided in or
pursuant to this Indenture, Registered Securities denominated in Dollars shall
be issuable in registered form without Coupons in denominations of $1,000 and
any integral multiples thereof, and the Bearer Securities denominated in
Dollars shall be issuable in the denomination of $5,000.  Securities not denominated in Dollars shall
be issuable in such denominations as are established with respect to such
Securities in or pursuant to this Indenture.

 

Section 303.           Execution,
Authentication, Delivery and Dating.  Securities
shall be executed on behalf of the Company by its Chairman, its Chief Executive
Officer, its President or one of its Vice Presidents and by its Treasurer, one
of its Assistant Treasurers, its Secretary or one of its Assistant Secretaries
and may (but need not) have its corporate or other seal or a facsimile thereof
reproduced thereon.  Coupons shall be
executed on behalf of the Company by its Chairman, its Chief Executive Officer,
its President or any of its Vice Presidents. 
The signature of any of these officers on the Securities or any Coupons
appertaining thereto may be manual or facsimile.

 

If any Guarantees are to be endorsed on or attached to
any Securities, and if such Guarantees provide for the execution thereof by the
applicable Guarantors (it being understood and agreed that any such Guarantee
may, but need not, provide for the execution by the applicable Guarantors),
such Guarantees shall be executed on behalf of each applicable Guarantor by its
Chairman, its Chief Executive Officer, its President, its Chief Financial
Officer, one of its Vice Presidents or any other duly authorized officer of
such Guarantor and may (but need not) have its corporate or other seal or
facsimile thereof reproduced thereon. 
The signature of any of these officers on any Guarantee may be manual or
facsimile.

 

Securities and any Coupons appertaining thereto and
any Guarantees bearing the manual or facsimile signatures of individuals who
were at any time the proper officers of the Company or the applicable
Guarantor, as the case may be, shall, to the fullest extent permitted by law,
bind the Company or such Guarantor, as the case may be, notwithstanding that
such individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at
the date of such Securities or Coupons.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities, together
with any Coupons

 

30

 

appertaining thereto, executed by the Company, to the
Trustee for authentication and, provided that the Board Resolution and
Officers’ Certificate (and each Guarantor’s Board Resolution and Guarantor’s
Officers’ Certificate) or supplemental indenture or indentures with respect to
such Securities referred to in Section 301 and a Company Order for the
authentication and delivery of such Securities have been delivered to the Trustee,
the Trustee in accordance with the Company Order and subject to the provisions
hereof and of such Securities shall authenticate and deliver such
Securities.  In authenticating such
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities and any Coupons appertaining thereto, the
Trustee shall be given, and (subject to the applicable provisions of Sections
315(a) through 315(d) of the Trust Indenture Act) shall be fully
protected in relying upon, an Opinion of Counsel to the following effect, which
Opinion of Counsel may contain such assumptions, qualifications and limitations
as such counsel shall deem appropriate:

 

(a)           the form or forms and terms of such
Securities and Coupons, if any, have been established in conformity with
Sections 201 and 301 of this Indenture; and

 

(b)           all conditions precedent set forth in
Sections 201, 301 and 303 of this Indenture to the authentication and delivery
of such Securities and Coupons, if any, appertaining thereto have been complied
with and that such Securities, and Coupons, when completed by appropriate
insertions (if applicable), executed by duly authorized officers of the
Company, delivered by duly authorized officers of the Company to the Trustee
for authentication pursuant to this Indenture, and authenticated and delivered
by the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and
binding obligations of the Company, enforceable against the Company in
accordance with their terms, except as enforcement thereof may be subject to or
limited by bankruptcy, insolvency, reorganization, moratorium, arrangement,
fraudulent conveyance, fraudulent transfer or other similar laws relating to or
affecting creditors’ rights generally, and subject to general principles of
equity (regardless of whether enforcement is sought in a proceeding in equity
or at law).

 

The Trustee shall not be required to authenticate or
to cause an Authenticating Agent to authenticate any Securities if the issue of
such Securities pursuant to this Indenture will affect the Trustee’s own
rights, duties or immunities under the Securities and this Indenture or
otherwise in a manner which is not reasonably acceptable to the Trustee or if
the Trustee, being advised by counsel, determines that such action may not
lawfully be taken.

 

31

 

Each Registered Security shall be dated the date of
its authentication.  Each Bearer Security
and any Bearer Security in global form shall be dated as of the date specified
in or pursuant to this Indenture.

 

No Security or Coupon appertaining thereto shall be
entitled to any benefit under this Indenture or be valid or obligatory for any
purpose, unless there appears on such Security a certificate of authentication
substantially in the form provided for in Section 202 or 611 executed by
or on behalf of the Trustee or by the Authenticating Agent by the manual
signature of one of its authorized signatories. 
Such certificate upon any Security shall be conclusive evidence, and the
only evidence, that such Security has been duly authenticated and delivered
hereunder.  Except as permitted by Section 306
or 307 or as may otherwise be provided in or pursuant to this Indenture, the
Trustee shall not authenticate and deliver any Bearer Security unless all
Coupons appertaining thereto then matured have been detached and cancelled.

 

Section 304.           Temporary
Securities.  Pending the preparation of definitive Securities,
the Company may execute and deliver to the Trustee and, upon Company Order, the
Trustee shall authenticate and deliver, in the manner provided in Section 303,
temporary Securities in lieu thereof which are printed, lithographed,
typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu
of which they are issued, in registered form or, if authorized in or pursuant
to this Indenture, in bearer form with one or more Coupons or without Coupons
and with such appropriate insertions, omissions, substitutions and other
variations as the officers of the Company executing such Securities may
determine, as conclusively evidenced by their execution of such Securities.  Such temporary Securities may be in global
form.

 

Except in the case of temporary Securities in global
form, which shall be exchanged in accordance with the provisions set forth in
this Indenture or the provisions established pursuant to Section 301, if
temporary Securities are issued, the Company shall cause definitive Securities
to be prepared without unreasonable delay. 
Except as otherwise provided in or pursuant to this Indenture, after the
preparation of definitive Securities of the same series and containing terms
and provisions that are identical to those of any temporary Securities, such
temporary Securities shall be exchangeable for such definitive Securities upon
surrender of such temporary Securities at an Office or Agency for such
Securities, without charge to any Holder thereof.  Except as otherwise provided in or pursuant
to this Indenture, upon surrender for cancellation of any one or more temporary
Securities (accompanied by any unmatured Coupons appertaining thereto), the
Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a like principal amount of definitive Securities of
authorized denominations of the same series and containing identical terms and
provisions; provided, however, that no definitive Bearer Security, except as
provided in or

 

32

 

pursuant to this Indenture, shall be delivered in
exchange for a temporary Registered Security; and provided, further, that a
definitive Bearer Security shall be delivered in exchange for a temporary
Bearer Security only in compliance with the conditions set forth in or pursuant
to this Indenture.  Unless otherwise
provided in or pursuant to this Indenture with respect to a temporary global
Security, until so exchanged the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as
definitive Securities of such series.

 

Section 305.           Registration,
Transfer and Exchange.  With respect
to the Registered Securities of each series, if any, the Company shall cause to
be kept a register (each such register being herein sometimes referred to as
the “Security Register”) at an
Office or Agency for such series in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration
of the Registered Securities of such series and of transfers of the Registered
Securities of such series.  Such Office
or Agency shall be the “Security Registrar”
for that series of Securities.  Unless
otherwise specified in or pursuant to this Indenture or the Securities, the
initial Security Registrar for each series of Securities shall be as specified
in the last paragraph of Section 1002. 
The Company shall 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 shall be effective until a successor Security Registrar
with respect to such series of Securities shall have been appointed by the
Company and shall have accepted such appointment.  In the event that the Trustee shall not be or
shall cease to be Security Registrar with respect to a series of Securities, it
shall have the right to examine the Security Register for such series at all
reasonable times.  There shall be only
one Security Register for each series of Securities.

 

Except as otherwise provided in or pursuant to this
Indenture, upon surrender for registration of transfer of any Registered
Security of any series at any Office or Agency for such series, the Company
shall execute, and the Trustee shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Registered Securities
of the same series denominated as authorized in or pursuant to this Indenture,
of a like aggregate principal amount bearing a number not contemporaneously
outstanding and containing identical terms and provisions.

 

Except as otherwise provided in or pursuant to this
Indenture, at the option of the Holder, Registered Securities of any series may
be exchanged for other Registered Securities of the same series containing
identical terms and provisions, in any authorized denominations, and of a like
aggregate principal amount, upon surrender of the Securities to be exchanged at
any Office or Agency for such series. 
Whenever any Registered Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the
Registered Securities which the Holder making the exchange is entitled to
receive.

 

33

 

If provided in or pursuant to this Indenture, with
respect to Securities of any series, at the option of the Holder, Bearer
Securities of such series may be exchanged for Registered Securities of such
series containing identical terms, denominated as authorized in or pursuant to
this Indenture and in the same aggregate principal amount, upon surrender of
the Bearer Securities to be exchanged at any Office or Agency for such series,
with all unmatured Coupons and all matured Coupons in default thereto
appertaining.  If the Holder of a Bearer
Security is unable to produce any such unmatured Coupon or Coupons or matured
Coupon or Coupons in default, such exchange may be effected if the Bearer
Securities are accompanied by payment in funds acceptable to the Company and
the Trustee in an amount equal to the face amount of such missing Coupon or
Coupons, or the surrender of such missing Coupon or Coupons may be waived by
the Company and the Trustee if there is furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent
harmless from and against any and all loss, liability or expense.  If thereafter the Holder of such Bearer
Security shall surrender to any Paying Agent any such missing Coupon in respect
of which such a payment shall have been made, such Holder shall be entitled to
receive the amount of such payment; provided, however, that, except as
otherwise provided in Section 1002, interest represented by Coupons shall
be payable only upon presentation and surrender of those Coupons at an Office
or Agency for such series located outside the United States.  Notwithstanding the foregoing, in case a
Bearer Security of any series is surrendered at any such Office or Agency for such
series in exchange for a Registered Security of such series and like tenor
after the close of business at such Office or Agency on (i) any Regular
Record Date and before the opening of business at such Office or Agency on the
relevant Interest Payment Date, or (ii) any Special Record Date and before
the opening of business at such Office or Agency on the related date for
payment of Defaulted Interest, such Bearer Security shall be surrendered
without the Coupon relating to such Interest Payment Date or proposed date of
payment, as the case may be (or, if such Coupon is so surrendered with such
Bearer Security, such Coupon shall be returned to the Person so surrendering
the Bearer Security), and interest or Defaulted Interest, as the case may be,
shall not be payable on such Interest Payment Date or proposed date for
payment, as the case may be, in respect of the Registered Security issued in
exchange for such Bearer Security, but shall be payable only to the Holder of
such Coupon when due in accordance with the provisions of this Indenture.

 

If provided in or pursuant to this Indenture with
respect to Securities of any series, at the option of the Holder, Registered
Securities of such series may be exchanged for Bearer Securities upon such
terms and conditions as may be provided in or pursuant to this Indenture with
respect to such series.

 

Whenever any Securities are surrendered for exchange
as contemplated by the immediately preceding two paragraphs, the Company shall
execute, and the

 

34

 

Trustee shall authenticate
and deliver, the Securities which the Holder making the exchange is entitled to
receive.

 

Notwithstanding the
foregoing, except as otherwise provided in or pursuant to this Indenture, the
global Securities of any series shall be exchangeable for definitive
certificated Securities of such series only if (i) the Depository for such
global Securities notifies the Company that it is unwilling or unable to
continue as a Depository for such global Securities or at any time the Depository
for such global Securities ceases to be a clearing agency registered as such
under the Exchange Act, if so required by applicable law or regulation, and no
successor Depository for such Securities shall have been appointed within 90
days of such notification or of the Company becoming aware of the Depository’s
ceasing to be so registered, as the case may be, (ii) the Company, in its
sole discretion, determines that the Securities of such series shall no longer
be represented by one or more global Securities and executes and delivers to
the Trustee a Company Order to the effect that such global Securities shall be
so exchangeable, or (iii) an Event of Default has occurred and is
continuing with respect to such Securities.

 

If the beneficial owners of
interests in a global Security are entitled to exchange such interests for
definitive Securities as the result of an event described in clause (i), (ii) or
(iii) of the preceding paragraph, then without unnecessary delay but in
any event not later than the earliest date on which such interests may be so
exchanged, the Company shall deliver to the Trustee definitive Securities in
such form and denominations as are required by or pursuant to this Indenture,
and of the same series, containing identical terms and in aggregate principal
amount equal to the principal amount of such global Security, executed by the
Company.  On or after the earliest date
on which such interests may be so exchanged, such global Security shall be surrendered
from time to time by the Depository (or its custodian) as shall be specified in
the Company Order with respect thereto (which the Company agrees to deliver),
and in accordance with instructions given to the Trustee and the Depository as
shall be specified in the Company Order with respect thereto to the Trustee, as
the Company’s agent for such purpose, to be exchanged, in whole or in part, for
definitive Securities as described above without charge.  The Trustee shall authenticate and make
available for delivery, in exchange for each portion of such surrendered global
Security, a like aggregate principal amount of definitive Securities of the
same series of authorized denominations and of like tenor as the portion of
such global Security to be exchanged, which (unless such Securities are not
issuable both as Bearer Securities and as Registered Securities, in which case
the definitive Securities exchanged for the global Security shall be issuable
only in the form in which the Securities are issuable, as provided in or
pursuant to this Indenture) shall be in the form of Bearer Securities or
Registered Securities, or any combination thereof, and which shall be in such
denominations and, in the case of Registered Securities, registered in such
names, as shall be specified by the Depository, but subject to

 

35

 

the satisfaction of any
certification or other requirements to the issuance of Bearer Securities;
provided, however, that no such exchanges may occur during a period beginning
at the opening of business 15 days before any selection of Securities of the
same series to be redeemed and ending on the relevant Redemption Date; and
provided, further, that (unless otherwise provided in or pursuant to this
Indenture) no Bearer Security delivered in exchange for a portion of a global
Security shall be mailed or otherwise delivered to any location in the United
States.  Promptly following any such
exchange in part, such global Security shall be returned by the Trustee to such
Depository (or its custodian) or such other Depository (or its custodian)
referred to above in accordance with the instructions of the Company referred
to above, and the Trustee shall endorse such global Security to reflect the
decrease in the principal amount thereof resulting from such exchange.  If a Registered Security is issued in
exchange for any portion of a global Security after the close of business at
the Office or Agency for such Security where such exchange occurs on or after (i) any
Regular Record Date for such Security and before the opening of business at
such Office or Agency on the next Interest Payment Date, or (ii) any
Special Record Date for such Security and before the opening of business at
such Office or Agency on the related proposed date for payment of interest or
Defaulted Interest, as the case may be, interest shall not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in
respect of such Registered Security, but shall be payable on such Interest
Payment Date or proposed date for payment, as the case may be, only to the
Person to whom interest in respect of such portion of such global Security
shall be payable in accordance with the provisions of this Indenture.

 

All Securities issued upon
any registration of transfer or exchange of Securities shall be the valid
obligations of the Company evidencing the same debt and entitling the Holders
thereof to the same benefits under this Indenture and the applicable Guarantees
as the Securities surrendered upon such registration of transfer or exchange.

 

Every Registered Security
presented or surrendered for registration of transfer or for exchange or
redemption shall (if so required by the Company or the Security Registrar for
such Security) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar for
such Security duly executed by the Holder thereof or his attorney duly
authorized in writing.

 

No service charge shall be
made for any registration of transfer or exchange of Securities, or any
redemption or repayment of Securities, or any conversion or exchange of
Securities for other types of securities or property, but the Company may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 304, 905
or 1107, upon repayment or repurchase in part of any Registered Security

 

36

 

pursuant to Article Thirteen,
or upon surrender in part of any Registered Security for conversion or exchange
into Common Shares or other securities or property pursuant to its terms, in
each case not involving any transfer.

 

Except as otherwise provided
in or pursuant to this Indenture, the Company shall not be required (i) to
issue, register the transfer of or exchange any Securities during a period
beginning at the opening of business 15 days before the day of the selection for
redemption of Securities of like tenor and terms and of the same series under Section 1103
and ending at the close of business on the day of such selection, or (ii) to
register the transfer of or exchange any Registered Security, or portion
thereof, so selected for redemption, except in the case of any Registered
Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to
exchange any Bearer Security so selected for redemption except, to the extent
provided with respect to such Bearer Security, that such Bearer Security may be
exchanged for a Registered Security of like tenor and terms and of the same
series, provided that such Registered Security shall be simultaneously
surrendered for redemption with written instruction for payment consistent with
the provisions of this Indenture or (iv) to issue, register the transfer
of or exchange any Security which, in accordance with its terms, has been
surrendered for repayment at the option of the Holder pursuant to Article Thirteen
and not withdrawn, except the portion, if any, of such Security not to be so
repaid.

 

Section 306.           Mutilated,
Destroyed, Lost and Stolen Securities.  If any mutilated Security or a Security with
a mutilated Coupon appertaining to it is surrendered to the Trustee, subject to
the provisions of this Section 306, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of
the same series containing identical terms and of like principal amount and
bearing a number not contemporaneously outstanding, with Coupons appertaining
thereto corresponding to the Coupons, if any, appertaining to the surrendered
Security.

 

If there be delivered to the
Company and to the Trustee (i) evidence to their satisfaction of the
destruction, loss or theft of any Security or Coupon, and (ii) such
security or indemnity as may be required by them to save each of them and any
agent of either of them harmless from and against any and all loss, liability
or expense, then, in the absence of notice to the Company or the Trustee that
such Security or Coupon has been acquired by a bona fide purchaser, the Company
shall execute and, upon the Company’s request the Trustee shall authenticate
and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost
or stolen Security or in exchange for the Security to which a destroyed, lost
or stolen Coupon appertains with all appurtenant Coupons not destroyed, lost or
stolen, a new Security of the same series containing identical terms and of
like principal amount and bearing a number not contemporaneously outstanding,
with Coupons corresponding to the Coupons, if any, appertaining to

 

37

 

such destroyed, lost or
stolen Security or to the Security to which such destroyed, lost or stolen
Coupon appertains.

 

Notwithstanding the
foregoing provisions of this Section 306, in case any mutilated,
destroyed, lost or stolen Security or Coupon has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security or Coupon; provided, however, that payment of
principal of, any premium or interest on or any Additional Amounts with respect
to any Bearer Securities shall, except as otherwise provided in Section 1002,
be payable only at an Office or Agency for such Securities located outside the
United States and, unless otherwise provided in or pursuant to this Indenture,
any interest on Bearer Securities and any Additional Amounts with respect to
such interest shall be payable only upon presentation and surrender of the
Coupons appertaining thereto.

 

Upon the issuance of any new
Security under this Section, the Company 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) connected therewith.

 

Every new Security, with any
Coupons appertaining thereto issued pursuant to this Section in lieu of
any destroyed, lost or stolen Security, or in exchange for a Security to which
a destroyed, lost or stolen Coupon appertains shall constitute a separate
obligation of the Company, whether or not the destroyed, lost or stolen
Security and Coupons appertaining thereto or the destroyed, lost or stolen
Coupon shall be at any time enforceable by anyone, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all
other Securities of such series and any Coupons, if any, duly issued hereunder.

 

The provisions of this
Section, as amended or supplemented pursuant to this Indenture with respect to
particular Securities or generally, shall (to the extent lawful) be exclusive
and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities or Coupons.

 

Section 307.           Payment of
Interest and Certain Additional Amounts; Rights to Interest and Certain
Additional Amounts Preserved.  Unless otherwise provided in or pursuant to
this Indenture, any interest on and any Additional Amounts with respect to any
Registered Security which shall be payable, and are punctually paid or duly
provided for, on any Interest Payment Date shall be paid to the Person in whose
name such Security (or one or more Predecessor Securities) is registered as of
the close of business on the Regular Record Date for such interest.  Unless otherwise provided in or pursuant to
this Indenture, in case a Bearer Security is surrendered in exchange for a
Registered Security after the

 

38

 

close of business at an
Office or Agency for such Security on any Regular Record Date therefor and
before the opening of business at such Office or Agency on the next succeeding
Interest Payment Date therefor, such Bearer Security shall be surrendered
without the Coupon relating to such Interest Payment Date and interest shall
not be payable on such Interest Payment Date in respect of the Registered
Security issued in exchange for such Bearer Security, but shall be payable only
to the Holder of such Coupon when due in accordance with the provisions of this
Indenture.

 

Unless otherwise provided in
or pursuant to this Indenture, any interest on and any Additional Amounts with
respect to any Registered Security which shall be payable, but shall not be
punctually paid or duly provided for, on any Interest Payment Date for such
Registered Security (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the Holder thereof
on the relevant Regular Record Date by virtue of having been such Holder; and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

 

(a)           The Company may elect to make
payment of any Defaulted Interest to the Person in whose name such Registered
Security (or a Predecessor Security thereof) shall be registered at the close
of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner.  The Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on such
Registered Security and the date of the proposed payment, and at the same time
the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit on or
prior to the date of the proposed payment, such money when so deposited to be
held in trust for the benefit of the Person entitled to such Defaulted Interest
as in this Clause provided.  Thereupon,
the Trustee shall fix a Special Record Date for the payment of such Defaulted
Interest which shall be not more than 15 days and not less than 10 days prior
to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Company of such Special Record Date and, in the name and at
the expense of the Company shall cause notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor to be mailed,
first-class postage prepaid, to the Holder of such Registered Security (or a
Predecessor Security thereof) at his address as it appears in the Security
Register not less than 10 days prior to such Special Record Date.  The Trustee may, in its discretion, in the
name and at the expense of the Company cause a similar notice to be published
at least once in an Authorized Newspaper of general circulation in the Borough
of Manhattan, The City of New York, but such publication shall not be a
condition precedent to the establishment of such Special Record Date.  Notice of the proposed payment of such
Defaulted Interest and the Special Record Date

 

39

 

therefor having been mailed
as aforesaid, such Defaulted Interest shall be paid to the Person in whose name
such Registered Security (or a Predecessor Security thereof) shall be
registered at the close of business on such Special Record Date and shall no
longer be payable pursuant to the following clause (2).  In case a Bearer Security is surrendered at
the Office or Agency for such Security in exchange for a Registered Security
after the close of business at such Office or Agency on any Special Record Date
and before the opening of business at such Office or Agency on the related
proposed date for payment of Defaulted Interest, such Bearer Security shall be
surrendered without the Coupon relating to such Defaulted Interest and
Defaulted Interest shall not be payable on such proposed date of payment in
respect of the Registered Security issued in exchange for such Bearer Security,
but shall be payable only to the Holder of such Coupon when due in accordance
with the provisions of this Indenture.

 

(b)           The Company may make payment
of any Defaulted Interest in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Security may be listed,
and upon such notice as may be required by such exchange, if, after notice
given by the Company to the Trustee of the proposed payment pursuant to this
Clause, such payment shall be deemed practicable by the Trustee.

 

Unless otherwise provided in
or pursuant to this Indenture or the Securities of any particular series, at
the option of the Company, interest on Registered Securities that bear interest
may be paid by mailing a check to the address of the Person entitled thereto as
such address shall appear in the Security Register or by wire or electronic
transfer to an account maintained by the payee with a bank located in the
United States of America.

 

Subject to the foregoing
provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in
lieu of any other Security shall carry the rights to interest accrued and
unpaid, and to accrue, which were carried by such other Security.

 

Section 308.           Persons
Deemed Owners.  Prior to
due presentment of a Registered Security for registration of transfer, the
Company, the Guarantors, the Trustee and any agent of the Company, any
Guarantor or the Trustee may treat the Person in whose name such Registered
Security is registered in the Security Register as the owner of such Registered
Security for the purpose of receiving payment of principal of, any premium and
(subject to Sections 305 and 307) interest on and any Additional Amounts with
respect to such Registered Security and for all other purposes whatsoever,
whether or not any payment with respect to such Registered Security shall be
overdue, and none of the Company, the Guarantors, the Trustee or any agent of
the Company, any Guarantor or the Trustee shall be affected by notice to the
contrary.

 

40

 

The Company, the Guarantors,
the Trustee and any agent of the Company, any Guarantor or the Trustee may
treat the bearer of any Bearer Security or the bearer of any Coupon as the
absolute owner of such Security or Coupon for the purpose of receiving payment
thereof or on account thereof and for all other purposes whatsoever, whether or
not any payment with respect to such Security or Coupon shall be overdue, and
none of the Company, the Guarantors, the Trustee or any agent of the Company,
any Guarantor or the Trustee shall be affected by notice to the contrary.

 

No holder of any beneficial
interest in any global Security held on its behalf by a Depository shall have
any rights under this Indenture with respect to such global Security, and such
Depository may be treated by the Company, the Guarantors, the Trustee, and any
agent of the Company or the Trustee as the owner of such global Security for
all purposes whatsoever. None of the Company, the Guarantors, the Trustee, any
Paying Agent or the Security Registrar will have any responsibility or
liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership
interests.

 

Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Guarantors, the
Trustee, any Paying Agent or the Security Registrar from giving effect to any
written certification, proxy or other authorization furnished by the applicable
Depository, as a Holder, with respect to a global Security or impair, as
between such Depository and the owners of beneficial interests in such global
Security, the operation of customary practices governing the exercise of the
rights of such Depository (or its nominee) as the Holder of such global
Security.

 

Section 309.           Cancellation.  All Securities and Coupons surrendered for
payment, redemption, registration of transfer, exchange or conversion or for
credit against any sinking fund payment shall, if surrendered to any Person
other than the Trustee, be delivered to the Trustee, and any such Securities
and Coupons, as well as Securities and Coupons surrendered directly to the
Trustee for any such purpose, shall be cancelled promptly by the Trustee.  The Company may at any time deliver to the
Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and all
Securities so delivered shall be cancelled promptly by the Trustee.  No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section,
except as expressly permitted by or pursuant to this Indenture.  All cancelled Securities and Coupons held by
the Trustee shall be disposed of by the Trustee in accordance with customary
procedures.

 

Section 310.           Computation
of Interest.  Except as
otherwise provided in or pursuant to this Indenture or in the Securities of any
series, interest on the

 

41

 

Securities shall be computed
on the basis of a 360-day year of twelve 30-day months.

 

Section 311.           CUSIP
Numbers.  The Company in issuing the Securities
may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee
shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to
the correctness of such numbers either as printed on the Securities or as
contained in any notice of a redemption and that reliance may be placed only on
the other identification numbers printed on the Securities,  and any such redemption shall not be affected
by any defect in or omission of such numbers. 
The Company will promptly notify the Trustee in writing of any change in
the “CUSIP” numbers.

 

ARTICLE 4

SATISFACTION AND DISCHARGE OF INDENTURE

 

Section 401.           Satisfaction
and Discharge.  Unless,
pursuant to Section 301, the provisions of this Section 401 shall not
be applicable with respect to the Securities of any series, upon the direction
of the Company by a Company Order, this Indenture shall cease to be of further
effect with respect to any series of Securities specified in such Company Order
and any Coupons appertaining thereto and any Guarantees of such Securities, and
the Trustee, on receipt of a Company Order, at the expense of the Company,
shall execute proper instruments acknowledging satisfaction and discharge of
this Indenture as to such series, when

 

(a)           either

 

(i)            all Securities of such
series theretofore authenticated and delivered and all Coupons appertaining
thereto (other than (A) Coupons appertaining to Bearer Securities of such
series surrendered in exchange for Registered Securities of such series and
maturing after such exchange whose surrender is not required or has been waived
as provided in Section 305, (B) Securities and Coupons of such series
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 306, (C) Coupons appertaining to Securities of
such series called for redemption and maturing after the relevant Redemption
Date whose surrender has been waived as provided in Section 1106, and (D) Securities
and Coupons of such series for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 1003)
have been delivered to the Trustee for cancellation; or

 

42

 

(ii)           all Securities of such
series and, in the case of (A) or (B) below, if applicable, any
Coupons appertaining thereto not theretofore delivered to the Trustee for
cancellation

 

(A)          have become due
and payable, or

 

(B)           will become due
and payable at their Stated Maturity within one year, or

 

(C)           if redeemable
at the option of the Company, are to be called for redemption within one year
under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company,

 

and the Company, in the case
of (A), (B) or (C) above, has deposited or caused to be deposited
with the Trustee as trust funds in trust for such purpose, money in the
Currency in which such Securities are payable in an amount sufficient to pay
and discharge the entire indebtedness on such Securities and any Coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation,
including the principal of, any premium and interest on, and, to the extent
that the Securities of such series provide for the payment of Additional
Amounts thereon and the amount of any such Additional Amounts which are or will
be payable with respect to the Securities of such series is at the time of
deposit reasonably determinable by the Company (in the exercise by the Company
of its sole and absolute discretion), any Additional Amounts with respect to,
such Securities and any Coupons appertaining thereto, to the date of such
deposit (in the case of Securities which have become due and payable) or to the
Maturity thereof, as the case may be;

 

(b)           the Company has paid or
caused to be paid all other sums payable hereunder by the Company with respect
to the Outstanding Securities of such series and any Coupons appertaining
thereto; and

 

(c)           the Company has delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent herein provided for relating to the satisfaction
and discharge of this Indenture as to such series have been complied with.

 

In the event there are
Securities of two or more series Outstanding hereunder, the Trustee shall be
required to execute an instrument acknowledging satisfaction and discharge of
this Indenture only if requested to do so with respect to Securities of such
series as to which it is Trustee and if the other conditions thereto are met.

 

43

 

At such time as the Company shall
have effected satisfaction and discharge of this Indenture with respect to any
series of Securities, each Guarantor of the Securities of such series shall
(except as provided in the next succeeding paragraph) be automatically and
unconditionally released and discharged from all of its obligations under its
Guarantee of the Securities of such series and all of its other obligations
under this Indenture in respect of the Securities of such series, without any
action by the Company, any Guarantor or the Trustee and without the consent of
the Holders of any Securities.

 

Notwithstanding the
satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 606
and, if money shall have been deposited with the Trustee pursuant to subclause (ii) of
clause (a) of this Section, the respective obligations of the Company, the
Guarantors of the Securities of such series and the Trustee with respect to the
Securities of such series under Sections 305, 306, 403, 404, 1002 and 1003, any
rights of Holders of the Securities of such series (unless otherwise provided
pursuant to Section 301 with respect to the Securities of such series) to
convert or exchange, and the obligations of the Company to convert or exchange,
such Securities into Common Shares or other securities or property, and, if
expressly provided pursuant to Section 301 with respect to the Securities
of such series, any rights of Holders of the Securities of such series to
require the Company to repurchase or repay, and the obligations of the Company
to repurchase or repay, such Securities at the option of such Holders as
contemplated by Article Thirteen hereof, shall survive, and, if the
Securities of such series provide for the payment of Additional Amounts
pursuant to Section 1004, the Company will remain obligated, following
satisfaction and discharge of this Indenture with respect to the Securities of
such series, to pay, and the Guarantees of the Securities of such series will continue
to guarantee (on the terms and subject to the conditions set forth in this
Indenture, including any other terms of this Indenture (including any terms
established pursuant to Section 301 with respect to the Securities of such
series), providing for the release and discharge of any Guarantor from its
Guarantee of the Securities of such series and its other obligations under this
Indenture in respect to the Securities of such series) the payment of,
Additional Amounts with respect to such Securities as contemplated by Section 1004,
to the extent (and only to the extent) that the Additional Amounts payable with
respect to such Securities exceed the amount deposited in respect of such
Additional Amounts pursuant to subclause (ii) of clause (a) of this Section.

 

Section 402.           Defeasance
and Covenant Defeasance.

 

(a)           Unless, pursuant to Section 301,
either or both of (i) defeasance of the Securities of or within a series
under clause (b) of this Section 402 or (ii) covenant defeasance
of the Securities of or within a series under clause (c) of this Section 402
shall not be applicable with respect to the Securities of such

 

44

 

series, then such
provisions, together with the other provisions of this Section 402 (with
such modifications thereto as may be specified pursuant to Section 301
with respect to any Securities), shall be applicable to such Securities and any
Coupons appertaining thereto, and the Company may at its option by Board
Resolution, at any time, with respect to the Securities of or within such
series and any Coupons appertaining thereto, elect to have Section 402(b) or
Section 402(c) be applied to such Outstanding Securities and any
Coupons appertaining thereto upon compliance with the conditions set forth
below in this Section 402. Unless otherwise specified pursuant to Section 301
with respect to the Securities of any series, defeasance under clause (b) of
this Section 402 and covenant defeasance under clause (c) of this Section 402
may be effected with respect to any or all of the Outstanding Securities of any
series.  To the extent that the terms of
any Security or Coupon appertaining thereto established in or pursuant to this
Indenture permit the Company, any of the Guarantors or any Holder thereof to
extend the date on which any payment of principal of, or premium, if any, or
interest, if any, on, or Additional Amounts, if any, with respect to such
Security or Coupon is due and payable, then unless otherwise provided pursuant
to Section 301, the right to extend such date shall terminate upon
defeasance or covenant defeasance, as the case may be.

 

(b)           Upon the Company’s exercise
of the above option applicable to this Section 402(b) with respect to
any Securities of or within a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Outstanding Securities and
any Coupons appertaining thereto on the date the conditions set forth in clause
(d) of this Section 402 are satisfied (hereinafter, “defeasance”).  For this purpose, such defeasance means that
the Company shall be deemed to have paid and discharged the entire indebtedness
represented by such Outstanding Securities and any Coupons appertaining
thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of clause (e) of this Section 402
and the other Sections of this Indenture referred to in clauses (i) through
(iv) of this paragraph, and the Company and the Guarantors of the
Securities of such series shall be deemed to have satisfied all of their
respective other obligations under such Securities and any Coupons appertaining
thereto and the Guarantees of such Securities and this Indenture insofar as
such Securities and any Coupons appertaining thereto or such Guarantees are
concerned (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), except for the following which shall
survive until otherwise terminated or discharged hereunder:  (i) the rights of Holders of such
Outstanding Securities and any Coupons appertaining thereto to receive, solely
(except as provided in clause (ii) below) from the trust fund described in
clause (d)(i) of this Section 402 and as more fully set forth in this
Section 402 and Section 403, payments in respect of the principal of
(and premium, if any) and interest, if any, on, and Additional Amounts, if any,
with respect to, such Securities and any Coupons appertaining thereto when such

 

45

 

payments are due, (ii) the
obligations of the Company, the Guarantors of the Securities of such series and
the Trustee with respect to such Securities under Sections 305, 306, 1002 and
1003 and, if applicable to the Securities of such series, any rights of Holders
of such Securities (unless otherwise provided pursuant to Section 301 with
respect to the Securities of such series) to convert or exchange, and the
obligations of the Company to convert or exchange, such Securities into Common
Shares or other securities or property, and, if expressly provided pursuant to Section 301
with respect to the Securities of such series, any rights of Holders of the
Securities of such series to require the Company to repurchase or repay, and
the obligations of the Company to repurchase or repay, such Securities at the
option of such Holders as contemplated by Article Thirteen hereof, and, if
the Securities of such series provide for the payment of Additional Amounts
pursuant to Section 1004, the Company will remain obligated, following
defeasance of this Indenture with respect to the Securities of such series, to
pay, and the Guarantees of the Securities of such series will continue to
guarantee (on the terms and subject to the conditions set forth in this
Indenture, subject to any other terms of this Indenture, including any terms
established pursuant to Section 301 with respect to the Securities of such
series, providing for the release and discharge of any Guarantor from its
Guarantee of the Securities of such series and its other obligations under this
Indenture in respect to the Securities of such series) the payment of,
Additional Amounts with respect to such Securities as contemplated by Section 1004,
to the extent (and only to the extent) that the Additional Amounts payable with
respect to such Securities exceed the amount deposited in respect of such
Additional Amounts pursuant to clause (d)(i) of this Section 402, (iii) the
rights, powers, trusts, duties and immunities of the Trustee hereunder and (iv) this
Section 402 and Sections 403 and 404. 
The Company may exercise its option under this Section 402(b) notwithstanding
the prior exercise of its option under Section 402(c) with respect to
such Securities and any Coupons appertaining thereto.  Upon the effectiveness of defeasance with
respect to any series of Securities, each Guarantor of the Securities of such
series shall (except as provided in clause (ii) of the next preceding
sentence) be automatically and unconditionally released and discharged from all
of its obligations under its Guarantee of the Securities of such series and all
of its other obligations under this Indenture in respect of the Securities of
such series, without any action by the Company, any Guarantor or the Trustee
and without the consent of the Holders of any Securities.

 

(c)           Upon the Company’s exercise
of the above option applicable to this Section 402(c) with respect to
any Securities of or within a series, the Company shall be released from its
obligations under any covenants applicable to such Securities which are
specified pursuant to Section 301 as being subject to covenant defeasance
on and after the date the conditions set forth in clause (d) of this Section 402
are satisfied (hereinafter, “covenant
defeasance”), and such Securities and any Coupons appertaining
thereto shall thereafter be deemed to be

 

46

 

not “Outstanding” for the purposes of any
direction, waiver, consent or declaration or Act of Holders (and the
consequences of any thereof) in connection with any such covenant, but shall
continue to be deemed “Outstanding”
for all other purposes hereunder.  For
this purpose, such covenant defeasance means that with respect to such
Outstanding Securities and any Coupons appertaining thereto, the Company may
omit to comply with, and shall have no liability in respect of, any term,
condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such Section or
such other covenant or by reason of reference in any such Section or such
other covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a default or an Event of Default under Section 501(d) or
501(k) or otherwise, as the case may be, but, except as specified above,
the remainder of this Indenture and such Securities and Coupons appertaining
thereto and the Guarantees thereof shall be unaffected thereby.

 

(d)           The following
shall be the conditions to application of clause (b) or (c) of this Section 402
to any Outstanding Securities of or within a series and any Coupons
appertaining thereto:

 

(i)            The Company shall irrevocably have deposited or caused
to be deposited with the Trustee (or another trustee satisfying the
requirements of Section 607 who shall agree to comply with the provisions
of this Section 402 applicable to it) 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 such Securities and any
Coupons appertaining thereto, (A) an amount in Dollars or in such Foreign
Currency in which such Securities and any Coupons appertaining thereto are then
specified as payable at Stated Maturity or, if such defeasance or covenant
defeasance is to be effected in compliance with subsection (vi) below, on
the relevant Redemption Date, as the case may be, or (B) Government
Obligations applicable to such Securities and Coupons appertaining thereto
(determined on the basis of the Currency in which such Securities and Coupons
appertaining thereto are then specified as payable at Stated Maturity or, if
such defeasance or covenant defeasance is to be effected in compliance with
subsection (vi) below, on the relevant Redemption Date, as the case may
be) which through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than one day before
the due date of any payment of principal of (and premium, if any) and interest,
if any, on such Securities and any Coupons appertaining thereto, money in an
amount, or (C) a combination thereof, in any case, in an amount,
sufficient, without consideration of any reinvestment of such principal and
interest, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge, and which shall be applied by the

 

47

 

Trustee (or other qualifying trustee) to pay and discharge, (y) the
principal of (and premium, if any) and interest, if any, on, and, to the extent
that such Securities provide for the payment of Additional Amounts thereon and
the amount of any such Additional Amounts which are or will be payable with
respect to the Securities of such series is at the time of deposit reasonably
determinable by the Company (in the exercise by the Company of its sole and
absolute discretion), any Additional Amounts with respect to, such Outstanding
Securities and any Coupons appertaining thereto on the Stated Maturity of such
principal or installment of principal or interest or the applicable Redemption
Date, as the case may be, and (z) any mandatory sinking fund payments or
analogous payments applicable to such Outstanding Securities and any Coupons
appertaining thereto on the day on which such payments are due and payable in
accordance with the terms of this Indenture and of such Securities and any
Coupons appertaining thereto.

 

(ii)           Such defeasance or covenant defeasance shall not
result in a breach or violation of, or constitute a default under, this
Indenture.

 

(iii)          No Event of Default or event which with notice or
lapse of time or both would become an Event of Default with respect to such
Securities and any Coupons appertaining thereto shall have occurred and be
continuing on the date of such deposit, and, solely in the case of defeasance
under Section 402(b), no Event of Default with respect to the Company
under clauses (h), (i), or (j) of Section 501 with respect to such
Securities and any Coupons appertaining thereto or event which with notice or
lapse of time or both would become an Event of Default with respect to the
Company under clauses (h), (i), or (j) of Section 501 with respect to
such Securities and any Coupons appertaining thereto shall have occurred and be
continuing at any time during the period ending on and including the 91st day
after the date of such deposit (it being understood that this condition to
defeasance under Section 402(b) shall not be deemed satisfied until
the expiration of such period).

 

(iv)          In the case of defeasance pursuant to Section 402(b),
the Company shall have delivered to the Trustee an opinion of independent
counsel reasonably acceptable to the Trustee stating that (x) the Company
has received from, or there has been published by, the Internal Revenue Service
a ruling, or (y) since the date of this Indenture there has been a change
in applicable U.S. federal income tax law, in either case to the effect that,
and based thereon such opinion of independent counsel shall confirm that, the
Holders of such Outstanding Securities and any Coupons appertaining thereto
will not recognize income, gain or loss for U.S. federal income tax purposes as
a result of such defeasance and will be subject to U.S. federal income tax on
the same amounts, in the same

 

48

 

manner and at the same times as would have been the case if such
defeasance had not occurred; or, in the case of covenant defeasance pursuant to
Section 402(c), the Company shall have delivered to the Trustee an opinion
of independent counsel reasonably acceptable to the Trustee to the effect that
the Holders of such Outstanding Securities and any Coupons appertaining thereto
will not recognize income, gain or loss for U.S. federal income tax purposes as
a result of such covenant defeasance and will be subject to U.S. federal income
tax on the same amounts, in the same manner and at the same times as would have
been the case if such covenant defeasance had not occurred.

 

(v)           The Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance or covenant defeasance, as the case may
be, under this Indenture have been complied with.

 

(vi)          If the monies or Government Obligations or
combination thereof, as the case may be, deposited under clause (i) above
are sufficient to pay the principal of, and premium, if any, and interest, if
any, on and, to the extent provided in such clause (i), Additional Amounts with
respect to, such Securities provided such Securities are redeemed on a
particular Redemption Date, the Company shall have given the Trustee
irrevocable instructions to redeem such Securities on such date and to provide
notice of such redemption to Holders as provided in or pursuant to this
Indenture.

 

(vii)         Notwithstanding any other provisions of this Section 402(d),
such defeasance or covenant defeasance shall be effected in compliance with any
additional or substitute terms, conditions or limitations which may be imposed
on the Company in connection therewith pursuant to Section 301.

 

(e)           Subject to the provisions of
the last paragraph of Section 1003, all money and Government Obligations
(or other property as may be provided pursuant to Section 301) (including
the proceeds thereof) deposited with the Trustee (or other qualifying
trustee—collectively for purposes of this Section 402(e) and Section 403,
the “Trustee”) pursuant to clause
(d)(i) of Section 402 in respect of any Outstanding Securities of any
series and any Coupons appertaining thereto shall be held in trust and applied
by the Trustee, in accordance with the provisions of such Securities and any
Coupons appertaining thereto and this Indenture, to the payment, either
directly or through any Paying Agent (other than the Company or any Guarantor
of the Securities of the applicable series or any Subsidiary or Affiliate of
the Company or any such Guarantor acting as Paying Agent) as the Trustee may
determine, to the Holders of such Securities and any Coupons appertaining
thereto of all sums due and to become due thereon in respect of principal (and
premium, if any) and interest and Additional Amounts, if

 

49

 

any, but such money need not
be segregated from other funds except to the extent required by law.

 

Unless otherwise specified in or pursuant to this
Indenture or any Securities, if, after a deposit referred to in Section 402(d)(i) has
been made, (i) the Holder of a Security in respect of which such deposit
was made is entitled to, and does, elect pursuant to Section 301 or the
terms of such Security to receive payment in a Currency other than that in
which the deposit pursuant to Section 402(d)(i) has been made in
respect of such Security, or (ii) a Conversion Event occurs in respect of
the Foreign Currency in which the deposit pursuant to Section 402(d)(i) has
been made, the indebtedness represented by such Security and any Coupons
appertaining thereto shall be deemed to have been, and will be, fully
discharged and satisfied through the payment of the principal of (and premium,
if any), and interest, if any, on, and Additional Amounts, if any, with respect
to, such Security as the same becomes due out of the proceeds yielded by
converting (from time to time as specified below in the case of any such
election) the amount or other property deposited in respect of such Security
into the Currency in which such Security becomes payable as a result of such
election or Conversion Event based on (x) in the case of payments made
pursuant to clause (i) above, the applicable market exchange rate for such
Currency in effect on the second Business Day prior to each payment date, or (y) with
respect to a Conversion Event, the applicable market exchange rate for such
Foreign Currency in effect (as nearly as feasible) at the time of the
Conversion Event.

 

The Company shall pay and indemnify the Trustee
against any tax, fee or other charge, imposed on or assessed against the
Government Obligations deposited pursuant to this Section 402 or the
principal or interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of such
Outstanding Securities and any Coupons appertaining thereto.

 

Anything in this Section 402 to the contrary
notwithstanding, the Trustee shall deliver or pay to the Company from time to
time upon Company Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in clause (d)(i) of
this Section 402 which, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then
be required to be deposited to effect a defeasance or covenant defeasance, as
applicable, in accordance with this Section 402.

 

Section 403.           Application
of Trust Money.  Subject to
the provisions of the last paragraph of Section 1003, all money and
Government Obligations deposited with the Trustee pursuant to Section 401
or 402 shall be held in trust and applied by it, in accordance with the
provisions of the Securities, the Coupons

 

50

 

and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal, premium, interest and Additional Amounts
for whose payment such money has or Government Obligations have been deposited
with or received by the Trustee; but such money and Government Obligations need
not be segregated from other funds except to the extent required by law.

 

Section 404.           Reinstatement.  If the Trustee (or other qualifying trustee
appointed pursuant to Section 402(d)(i)) or any Paying Agent is unable to
apply any moneys or Government Obligations deposited pursuant to Section 401(a) or
402(d)(i) to pay any principal of or premium, if any, or interest, if any,
on or Additional Amounts, if any, with respect to the Securities of the
applicable series by reason of any legal proceeding or any order or judgment of
any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the applicable Guarantors’
respective obligations under this Indenture and the Securities of such series
and the Guarantees of such Securities shall be revived and reinstated as though
no such deposit had occurred, until such time as the Trustee (or other
qualifying trustee) or Paying Agent is permitted to apply all such moneys and
Government Obligations to pay the principal of and premium, if any, and
interest, if any, on and Additional Amounts, if any, in respect of the
Securities of such series as contemplated by Sections 401 or 402 as the case
may be, and Section 403; provided, however, that if the Company or any
Guarantor makes any payment of the principal of or premium, if any, or interest
if any, on or Additional Amounts, if any, in respect of the Securities of such
series following the reinstatement of its obligations as aforesaid, the Company
or such Guarantor, as the case may be, shall be subrogated to the rights of the
Holders of such Securities to receive such payment from the funds held by the
Trustee (or other qualifying trustee) or Paying Agent.

 

ARTICLE 5

REMEDIES

 

Section 501.           Events Of
Default.  “Event of Default”, wherever used herein with respect to
Securities of any series, means any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body) unless such event is specifically deleted
or modified in or pursuant to the supplemental indenture, Board Resolution or
Officers’ Certificate establishing the terms of such series pursuant to this
Indenture:

 

51

 

(a)           default in the payment of
any interest, if any, on, or any Additional Amounts, if any, payable in respect
of any interest on, any of the Securities of such series or any Coupon
appertaining thereto when such interest or such Additional Amounts, as the case
may be, become due and payable, and continuance of such default for a period of
30 days; or

 

(b)           default in the payment of
any principal of, or premium, if any, on, or any Additional Amounts, if any,
payable in respect of any principal of or premium, if any, on, any of the
Securities of such series when due (whether at Maturity or otherwise and
whether payable in cash or in Common Shares or other securities or property);
or

 

(c)           default in the deposit of
any sinking fund payment or payment under any analogous provision when due with
respect to any of the Securities of such series; or

 

(d)           default in the delivery when
due of any securities, cash or other property (including, without limitation,
any Common Shares) when required to be delivered upon conversion of any
convertible Security of such series or upon the exchange of any Security of
such series which is exchangeable for Common Shares or other securities or
property (other than an exchange of Securities of such series for other
Securities of the same series); or

 

(e)           default after the expiration
of any applicable grace period in the payment of principal when due, or
resulting in acceleration of, other indebtedness (other than Non-recourse Debt)
of the Company or any Significant Subsidiary of the Company for borrowed money
or the payment of which is guaranteed by the Company or any Significant
Subsidiary of the Company where the aggregate principal amount with respect to
which the default or acceleration has occurred exceeds $25.0 million and such
indebtedness has not been discharged, or such default in payment or
acceleration has not been cured or rescinded, prior to written notice of
acceleration of the Outstanding Securities of such series; or

 

(f)            failure by the Company or
any Significant Subsidiary to pay final judgments entered by a court or courts
of competent jurisdiction aggregating in excess of $25.0 million, which
judgments are not paid, discharged or stayed for a period of 60 days after such
judgments become final and non-appealable, and in the event such judgment is
covered by insurance, an enforcement proceeding has been commenced by any
creditor upon such judgment or decree which is not promptly stayed; or

 

(g)           the Guarantee of the
Securities of such series by any Guarantor shall for any reason cease to be, or
shall for any reason be asserted in writing by such Guarantor or the Company
not to be, in full force and effect and enforceable in accordance with its
terms, except to the extent contemplated or permitted by

 

52

 

this Indenture or by the
terms of the Securities of such series established pursuant to Section 301;
or

 

(h)           the Company or any
Significant Subsidiary of the Company pursuant to or under or within the
meaning of any Bankruptcy Law:

 

(i)            commences a voluntary case or proceeding seeking
liquidation, reorganization or other relief with respect to it or its debts or
seeking the appointment of a trustee, receiver, liquidator, custodian or other
similar official of it or any substantial part of its property; or

 

(ii)           consents to any such relief or to the appointment of
or taking possession by any such official in an involuntary case or other
proceeding commenced against it; or

 

(iii)          consents to the appointment of a custodian of it or
for all or substantially all of its property; or

 

(iv)          makes a general assignment for the benefit of
creditors; or

 

(i)            an involuntary case or other
proceeding shall be commenced against the Company or any Significant Subsidiary
of the Company seeking liquidation, reorganization or other relief with respect
to it or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect or seeking the appointment of a trustee, receiver,
liquidator, custodian or other similar official of it or any substantial part
of its property, and such involuntary case or other proceeding shall remain
undismissed and unstayed for a period of 60 days; or

 

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

 

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

 

(ii)           appoints a trustee, receiver, liquidator, custodian
or other similar official of the Company or any Significant Subsidiary of the
Company or any substantial part of their respective properties; or

 

(iii)          orders the liquidation of the Company or any
Significant Subsidiary of the Company;

 

and, in each case in this clause (10), the order or
decree remains unstayed and in effect for 60 days; or

 

53

 

(k)           any other Event of Default
provided in or pursuant to this Indenture with respect to Securities of such
series.

 

Section 502.           Acceleration
of Maturity; Rescission and Annulment.  If an Event of Default (other than an Event
of Default specified in clauses (h), (i), or (j) of Section 501 with
respect to the Company) occurs and is continuing with respect to Securities of
any series, then either the Trustee or the Holders of not less than 30% in
aggregate principal amount of the Outstanding Securities of such series may
declare the principal of all the Securities of such series, or such lesser
amount as may be provided for in the Securities of such series, and accrued and
unpaid interest, if any, thereon to be due and payable immediately, by a notice
in writing to the Company and the Guarantors of the Securities of such series
(and to the Trustee if given by the Holders), and upon any such declaration
such principal or such lesser amount, as the case may be, and such accrued and
unpaid interest shall become immediately due and payable.  If an Event of Default specified in clause
(h), (i), or (j) of Section 501 with respect to the Company occurs
with respect to the Securities of any series, then the principal of all of the
Securities of such series, or such lesser amount as may be provided for in the
Securities of such series, and accrued an unpaid interest, if any, thereon
shall ipso facto become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder of the
Securities of such series.  For purposes
of clarity, the parties agree that references in this Indenture to an Event of
Default specified in clauses (h), (i), or (j) of Section 501 with
respect to the Company shall not include any Event of Default specified in
clauses (h), (i), or (j) of Section 501 with respect to any
Significant Subsidiary of the Company.

 

At any time after Securities of any series have been
accelerated (whether by declaration of the Trustee or the Holders or
automatically) and before a judgment or decree for payment of the money due has
been obtained by the Trustee as hereinafter in this Article provided, the
Holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of such series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if

 

(a)           the Company or any Guarantor
has paid or deposited with the Trustee a sum of money sufficient to pay (or, to
the extent that the terms of the Securities of such series established pursuant
to Section 301 expressly provide for payment to be made in Common Shares
or other securities or property, Common Shares or other securities or property,
together with cash in lieu of fractional shares or securities to the extent
required pursuant to the terms of such Securities, sufficient to pay)

 

(i)            all overdue installments of any interest on any
Securities of such series and any Coupons appertaining thereto which have
become due

 

54

 

otherwise than by such declaration of acceleration and any Additional
Amounts with respect thereto,

 

(ii)           the principal
of and any premium on any Securities of such series which have become due
otherwise than by such declaration of acceleration and any Additional Amounts
with respect thereto and, to the extent permitted by applicable law, interest
thereon at the rate or respective rates, as the case may be, provided for in or
with respect to such Securities, or, if no such rate or rates are so provided, at
the rate or respective rates, as the case may be, of interest borne by such
Securities,

 

(iii)          to the extent permitted by applicable law, interest
upon installments of any interest, if any, which have become due otherwise than
by such declaration of acceleration and any Additional Amounts with respect
thereto at the rate or respective rates, as the case may be, provided for in or
with respect to such Securities, or, if no such rate or rates are so provided,
at the rate or respective rates, as the case may be, of interest borne by such
Securities, and

 

(iv)          all sums paid or advanced by the Trustee hereunder
and the reasonable compensation, fees and expenses, disbursements and advances
of the Trustee, its agents and counsel and all other amounts due the Trustee
under Section 606; and

 

(b)           all Events of Default with
respect to Securities of such series other than the non-payment of the
principal of, any premium and interest on, and any Additional Amounts with
respect to Securities of such series which shall have become due solely by such
declaration of acceleration, shall have been cured or waived as provided in Section 513.

 

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

 

Section 503.           Collection of Indebtedness
and Suits for Enforcement by Trustee. 
The Company covenants that if:

 

(a)           default is made in the
payment of any interest on, or any Additional Amounts payable in respect of any
interest on, any Security or any Coupon appertaining thereto when such interest
or Additional Amounts, as the case may be, shall have become due and payable
and such default continues for a period of 30 days, or

 

(b)           default is made in the
payment of any principal of or premium, if any, on, or any Additional Amounts
payable in respect of any principal of or premium, if any, on, any Security at
its Maturity, or

 

55

 

(c)           default is made in the
deposit of any sinking fund payment when due,

 

the Company shall, upon demand of the
Trustee, pay to the Trustee, for the benefit of the Holders of such Securities
and any Coupons appertaining thereto, the whole amount of money then due and
payable with respect to such Securities and any Coupons appertaining thereto,
with interest upon the overdue principal, any premium and, to the extent
permitted by applicable law, upon any overdue installments of interest and
Additional Amounts at the rate or respective rates, as the case may be,
provided for or with respect to such Securities or, if no such rate or rates
are so provided, at the rate or respective rates, as the case may be, of
interest borne by such Securities, and, in addition thereto, such further
amount of money as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel and all other amounts due to
the Trustee under Section 606.

 

If the Company fails to pay the money it is required
to pay the Trustee pursuant to the preceding paragraph forthwith upon the
demand of the Trustee, the Trustee, in its own name and as trustee of an
express trust, may institute a judicial proceeding for the collection of the
money so due and unpaid, and may prosecute such proceeding to judgment or final
decree, and may enforce the same against the Company or any Guarantor of such
Securities or any other obligor upon such Securities and any Coupons
appertaining thereto and collect the monies adjudged or decreed to be payable
in the manner provided by law out of the property of the Company or any
Guarantor of such Securities or any other obligor upon such Securities and any
Coupons appertaining thereto, wherever situated.

 

If an Event of Default with respect to Securities of
any series occurs and is continuing, the Trustee may in its discretion proceed
to protect and enforce its rights and the rights of the Holders of Securities
of such series and any Coupons appertaining thereto by such appropriate
judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any such rights, whether for the specific enforcement of any covenant
or agreement in this Indenture or such Securities or in aid of the exercise of
any power granted herein or therein, or to enforce any other proper remedy.

 

Section 504.           Trustee
May File Proofs of Claim.  In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the Company, any Guarantor
of the Securities of any series or any other obligor upon the Securities or the
property of the Company or any such Guarantor or such other obligor or their
creditors, 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 on

 

56

 

the Company or any such
Guarantor for the payment of any overdue principal, premium, interest or
Additional Amounts) shall be entitled and empowered, by intervention in such
proceeding or otherwise,

 

(a)           to file and prove a claim
for the whole amount, or such lesser amount as may be provided for in the
Securities of such series, of the principal and any premium, interest and
Additional Amounts owing and unpaid in respect of the Securities and any
Coupons appertaining thereto 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 the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents or counsel) and of the Holders of Securities or any
Coupons allowed in such judicial proceeding, and

 

(b)           to collect and receive any
monies or other property payable or deliverable on any such claims and to
distribute the same;

 

and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such
judicial proceeding is hereby authorized by each Holder of Securities or any
Coupons to make such payments to the Trustee and, in the event that the Trustee
shall consent to the making of such payments directly to the Holders of
Securities or any Coupons, to pay to the Trustee any amount due to it for the
reasonable compensation, fees and expenses, disbursements and advances of the
Trustee, its agents and counsel and any other amounts due the Trustee under Section 606.

 

Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf
of any Holder of a Security or any Coupon any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or Coupons or
the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Holder of a Security or any Coupon in any such
proceeding.

 

Section 505.           Trustee May Enforce
Claims Without Possession of Securities or Coupons.  All rights of action and claims under this
Indenture or any of the Securities or Coupons may be prosecuted and enforced by
the Trustee without the possession of any of the Securities or Coupons or the
production thereof in any proceeding relating thereto, and any such proceeding
instituted by the Trustee shall be brought in its own name as trustee of an
express trust, and any recovery or judgment, after provision for the payment of
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, shall be for the ratable benefit of each and
every Holder of a Security or Coupon in respect of which such judgment has been
recovered.

 

Section 506.           Application
of Money Collected.  Any money
collected by the Trustee pursuant to this Article with respect to the
Securities of any series

 

57

 

shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the
distribution of such money on account of principal, or any premium, interest or
Additional Amounts, upon presentation of such Securities or the Coupons, if
any, appertaining thereto, or both, as the case may be, and the notation
thereon of the payment if only partially paid and upon surrender thereof if
fully paid:

 

FIRST: 
To the payment of all amounts due the Trustee and any predecessor
Trustee under Section 606;

 

SECOND: 
To the payment of the amounts then due and unpaid upon the Securities
and any Coupons for principal and any premium, interest and Additional Amounts
in respect of which or for the benefit of which such money has been collected,
ratably, without preference or priority of any kind, according to the aggregate
amounts due and payable on such Securities and Coupons for principal and any
premium, interest and Additional Amounts;

 

THIRD: 
The balance, if any, to the Company or as a court of competent
jurisdiction may direct.

 

Section 507.           Limitations
on Suits.  No Holder
of any Security of any series or any Coupons appertaining thereto shall have
any right to institute any proceeding, judicial or otherwise, with respect to
this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless

 

(a)           such Holder has previously
given written notice to the Trustee of a continuing Event of Default with
respect to the Securities of such series;

 

(b)           the Holders of not less than
30% in aggregate principal amount of the Outstanding Securities of such series
shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default in its own name as Trustee hereunder;

 

(c)           such Holder or Holders have
offered to the Trustee indemnity satisfactory to the Trustee against the costs,
fees and expenses and liabilities to be incurred in compliance with such
request;

 

(d)           the Trustee for 60 days
after its receipt of such notice, request and offer of indemnity has failed to
institute any such proceeding; and

 

(e)           no direction inconsistent
with such written request has been given to the Trustee during such 60-day
period by the Holders of a majority in principal amount of the Outstanding
Securities of such series;

 

58

 

it being understood and intended that no one
or more of such Holders shall have any right in any manner whatever by virtue
of, or by availing of, any provision of this Indenture or any Security to
affect, disturb or prejudice the rights of any other such Holders or Holders of
Securities of any other series, or to obtain or to seek to obtain priority or
preference over any other Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of
all such Holders.

 

Section 508.           Unconditional
Right of Holders to Receive Principal and Any Premium, Interest and Additional
Amounts.  Notwithstanding any other
provision in this Indenture, the Holder of any Security or Coupon shall have
the right, which is absolute and unconditional, to receive payment of the
principal of, any premium, if any, and (subject to Sections 305 and 307)
interest, if any, on and any Additional Amounts with respect to such Security
or such Coupon, as the case may be, on the respective Stated Maturity or
Maturities therefor specified in such Security or Coupon (or, in the case of
redemption, on the Redemption Date or, in the case of repayment pursuant to Article Thirteen
hereof at the option of such Holder if provided in or pursuant to this
Indenture, on the date such repayment is due) and, in the case of any Security
which is convertible into or exchangeable for other securities or property, to
convert or exchange, as the case may be, such Security in accordance with its
terms, and to institute suit for the enforcement of any such payment and any
such right to convert or exchange, and such right shall not be impaired without
the consent of such Holder.

 

Section 509.           Restoration
of Rights and Remedies.  If
the Trustee or any Holder of a Security or a Coupon has instituted any
proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Trustee or to such Holder, then and in every such
case the Company, the Trustee and each such Holder shall, subject to any
determination in such proceeding, be restored severally and respectively to
their former positions hereunder, and thereafter all rights and remedies of the
Trustee and each such Holder shall continue as though no such proceeding had
been instituted.

 

Section 510.           Rights and
Remedies Cumulative.  To the
extent permitted by applicable law and except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities or Coupons in the last paragraph of Section 306, no right or
remedy herein conferred upon or reserved to the Trustee or to each and every
Holder of a Security or a Coupon is intended to be exclusive of any other right
or remedy, and every right and remedy, to the extent permitted by law, shall 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, to the extent permitted by law,
prevent the concurrent assertion or employment of any other appropriate right
or remedy.

 

59

 

Section 511.           Delay or
Omission Not Waiver.  No delay or
omission of the Trustee or of any Holder of any Security or Coupon to exercise
any right or remedy accruing upon any Event of Default shall, to the extent
permitted by applicable law, impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or
by law to the Trustee or to any Holder of a Security or a Coupon may, to the
extent permitted by applicable law, be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by such Holder, as the case
may be.

 

Section 512.           Control by Holders of
Securities.  The Holders of a majority in
aggregate principal amount of the Outstanding Securities of any series 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 and any
Coupons appertaining thereto, provided that

 

(a)           such direction shall not be
in conflict with any rule of law or with this Indenture or with the
Securities of any series,

 

(b)           the Trustee may take any
other action deemed proper by the Trustee which is not inconsistent with such
direction, and

 

(c)           such direction is not unduly
prejudicial to the rights of the other Holders of Securities of such series not
joining in such action.

 

Section 513.           Waiver of
Past Defaults.  The Holders
of not less than a majority in aggregate principal amount of the Outstanding
Securities of any series on behalf of the Holders of all the Securities of such
series and any Coupons appertaining thereto may waive any past default
hereunder with respect to such series and its consequences, except

 

(a)           a default in the payment of
the principal of, any premium or interest on, or any Additional Amounts with
respect to, any Security of such series or any Coupons appertaining thereto, or

 

(b)           in the case of any
Securities which are convertible into or exchangeable for Common Shares or
other securities or property, a default in any such conversion or exchange, or

 

(c)           a default in respect of a
covenant or provision hereof which under Article Nine cannot be modified
or amended without the consent of the Holder of each Outstanding Security of
such series affected.

 

60

 

Upon any such waiver, such default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been
cured, for every purpose of this Indenture; but no such waiver shall extend to
any subsequent or other default or impair any right consequent thereon.

 

Section 514.           Waiver of Usury,
Stay or Extension Laws.  Each
of the Company and each of the Guarantors covenants that (to the extent that it
may lawfully do so) it will not at any time insist upon, or plead, or in any
manner whatsoever claim or take the benefit or advantage of, any stay or
extension law or any usury law or any other law wherever enacted, now or at any
time hereafter in force, which would prohibit or forgive the Company or such
Guarantor, as the case may be, from paying all or any portion of the principal
of or premium, if any, or interest, if any, on or Additional Amounts, if any,
with respect to any Securities (in the case of Company) or from paying any
amount due under any of its Guarantees (in the case of such Guarantor) as
contemplated herein and therein or which may affect the covenants or the
performance of this Indenture or the Securities (in the case of Company) or
this Indenture or any of its Guarantees (in the case of such Guarantor); and
each of the Company and each Guarantor (to the extent that it may lawfully do
so) expressly waives all benefit or advantage of any such law and covenants
that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee or the Holders, but will suffer and permit the execution
of every such power as though no such law had been enacted.

 

Section 515.           Undertaking
For Costs.  All parties
to this Indenture agree, and each Holder of any Security 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 or omitted
to be taken by it as Trustee, the filing by any party litigant in such suit of
any undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees and
disbursements, 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 515 shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding in the aggregate more than 10% in principal amount of
Outstanding Securities of any series, or to any suit instituted by any Holder
for the enforcement of the payment of the principal of (or premium, if any) or
interest, if any, on or Additional Amounts, if any, with respect to any
Security on or after the respective Stated Maturities expressed in such
Security (or, in the case of redemption, on or after the Redemption Date, and,
in the case of repayment at the option of the Holder pursuant to Article Thirteen
hereof, on or after the date for repayment) or for the enforcement of the
right, if any, to convert or exchange any Security into Common Shares or other
securities in accordance with its terms.

 

61

 

ARTICLE 6

THE TRUSTEE

 

Section 601.           Certain
Rights of Trustee.  Subject to
Sections 315(a) through 315(d) of the Trust Indenture Act:

 

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

 

(b)           any request or direction of
the Company mentioned herein shall be sufficiently evidenced by a Company
Request or a Company Order (in each case, other than delivery of any Security,
together with any Coupons appertaining thereto, to the Trustee for
authentication and delivery pursuant to Section 303 which shall be sufficiently
evidenced as provided therein) and any request or direction of a Guarantor
mentioned herein shall be sufficiently evidenced by a Guarantor Request or
Guarantor Order and any resolution of the Board of Directors may be
sufficiently evidenced by a Board Resolution and any resolution of a Guarantor’s
Board of Directors may be sufficiently evidenced by a Guarantor’s Board
Resolution;

 

(c)           whenever in the
administration of this Indenture the Trustee shall deem it desirable that a
matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence shall be herein
specifically prescribed) may, in the absence of bad faith on its part, rely
upon an Officers’ Certificate or if such matter pertains to a Guarantor, a
Guarantor’s Officers’ Certificate;

 

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

 

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

 

(f)            the Trustee shall not be
bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument,

 

62

 

opinion, report, notice,
request, direction, consent, order, bond, debenture, coupon or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee
shall determine to make such further inquiry or investigation, it shall be
entitled to examine, during business hours and upon reasonable notice, the
books, records and premises of the Company and the Guarantors, personally or by
agent or attorney at the expense of the Company and shall incur no liability of
any kind by reason of such inquiry or investigation;

 

(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 and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder;

 

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

 

(i)            in no event shall the
Trustee be responsible or liable for special, indirect, or consequential loss
or damage of any kind whatsoever (including, but not limited to, loss of
profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action;

 

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

 

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

 

(l)            the Trustee may request that
the Company deliver a certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant
to this Indenture.

 

Section 602.           Notice of
Defaults.  Within 90
days after the occurrence of any default hereunder with respect to the
Securities of any series, the Trustee shall transmit by mail to all Holders of
Securities of such series entitled to receive reports pursuant to Section 703(c),
notice of such default hereunder known to the Trustee, unless such default
shall have been cured or waived; provided, however, that, except in the case of
a default in the payment of the principal of (or premium,

 

63

 

if
any), or interest, if any, on, or Additional Amounts or any sinking fund
installment with respect to, any Security of 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 and/or Responsible
Officers of the Trustee in good faith determine that the withholding of such
notice is in the best interest of the Holders of Securities and Coupons of such
series; and provided, further, that in the case of any default of the character
specified in Section 501(d) or 501(k) with respect to Securities
of such series, no such notice to Holders shall be given until at least 30 days
after the occurrence thereof.  For the
purpose of this Section, the term “default”
means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Securities of such series.

 

Section 603.           Not Responsible For Recitals or Issuance of
Securities.  The recitals
contained herein and in the Securities, except the Trustee’s certificate of
authentication, and in any Coupons shall be taken as the statements of the
Company and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. 
The Trustee makes no representations as to the validity or sufficiency
of this Indenture or of the Securities or the Coupons, except that the Trustee
represents that it is duly authorized to execute and deliver this Indenture,
authenticate the Securities and perform its obligations hereunder and that the
statements made by it in a Statement of Eligibility on Form T-1 supplied
to the Company are true and accurate, subject to the qualifications set forth
therein. Neither the Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Company of the Securities or the proceeds
thereof.

 

Section 604.           May Hold Securities.  The Trustee, any Authenticating Agent, any
Paying Agent, any Security Registrar or any other Person that may be an agent
of the Trustee, the Company or any Guarantor, in its individual or any other
capacity, may become the owner or pledgee of Securities or Coupons and, subject
to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal
with the Company and each Guarantor with the same rights it would have if it
were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or
such other Person.

 

Section 605.           Money Held in Trust.  Except as provided in Section 403 and Section 1003,
money held by the Trustee in trust hereunder need not be segregated from other
funds except to the extent required by law and shall be held uninvested.  The Trustee shall be under no liability for
interest on any money received by it hereunder except as otherwise agreed in
writing with the Company or any Guarantor.

 

Section 606.           Compensation and Reimbursement.  The Company agrees:

 

64

 

(a)           to pay to the Trustee from time to
time reasonable compensation for all services rendered by the Trustee hereunder
(which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

 

(b)           except as otherwise expressly
provided herein, to reimburse the Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Trustee in
accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as shall be determined to have
been caused by the Trustee’s own negligence or willful misconduct; and

 

(c)           to indemnify the Trustee and its
agents for, and to hold them harmless against, any loss, claim, damage,
liability or reasonable expense (including, without limitation, the reasonable
fees and disbursements of the Trustee’s agents, legal counsel, accountants and
experts) incurred without negligence or willful misconduct on their part,
arising out of or in connection with the acceptance or administration of the
trust or trusts hereunder, including the reasonable costs and expenses of
defending themselves against any claim or liability in connection with the
exercise or performance of any of their powers or duties hereunder, except to
the extent that any such loss, liability or expense was due to the Trustee’s
own negligence or willful misconduct.

 

As security for the
performance of the obligations of the Company under this Section, the Trustee
shall have a lien prior to the Securities of any series upon all property and
funds held or collected by the Trustee as such, except funds held in trust for
the payment of principal of, or premium or interest on or any Additional
Amounts with respect to Securities or any Coupons appertaining thereto.

 

Any compensation or expense
incurred by the Trustee after a default specified by Section 501(h), (i) or
(j) is intended to constitute an expense of administration under any then
applicable bankruptcy or insolvency law. 
“Trustee” for purposes of
this Section 606 shall include any predecessor Trustee but the negligence
or willful misconduct of any Trustee shall not affect the rights of any other
Trustee under this Section 606.  The
provisions of this Section 606 shall, to the extent permitted by law,
survive any termination of this Indenture (including, without limitation,
termination pursuant to any Bankruptcy Laws) and the resignation or removal of
the Trustee.

 

Section 607.           Corporate Trustee Required; Eligibility.  There shall at all times be a Trustee
hereunder that is a Corporation, organized and doing business under the laws of
the United States of America, any state thereof or the District of Columbia,
eligible under Section 310(a)(1) of the Trust Indenture Act to act as 

 

65

 

trustee
under an indenture qualified under the Trust Indenture Act and that has a
combined capital and surplus (computed in accordance with Section 310(a)(2)
of the Trust Indenture Act) of at least $50,000,000 subject to supervision or
examination by Federal or state authority. 
If at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and
with the effect hereinafter specified in this Article.

 

Section 608.           Resignation and Removal; Appointment of
Successor.  (a) No
resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee pursuant to Section 609.

 

(b)           The Trustee may resign at any time
with respect to the Securities of one or more series by giving written notice
thereof to the Company.  If the
instrument of acceptance by a successor Trustee required by Section 609
shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction at the expense of the Company for the appointment of a
successor Trustee with respect to such series.

 

(c)           The Trustee may be removed at any
time with respect to the Securities of any series by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series,
delivered to the Trustee and the Company.

 

(d)           If at any time:

 

(i)            the Trustee shall fail to comply with the obligations
imposed upon it under Section 310(b) of the Trust Indenture Act with
respect to Securities of any series after written request therefor by the
Company or any Holder of a Security of such series who has been a bona fide
Holder of a Security of such series for at least six months, or

 

(ii)           the Trustee shall cease to be eligible under Section 607
and shall fail to resign after written request therefor by the Company or any such
Holder, or

 

(iii)          the Trustee shall become incapable of acting or shall be
adjudged a bankrupt or insolvent or a receiver 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, (A) the
Company, by or pursuant to a Board Resolution, may remove the Trustee with
respect to all Securities or the Securities of such 

 

66

 

series, or (B) subject to Section 315(e) of
the Trust Indenture Act, any Holder of a Security who has been a bona fide
Holder of a Security 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 with respect to all Securities of
such series and the appointment of a successor Trustee or Trustees.

 

(e)           If the Trustee shall resign, be
removed or become incapable of acting, or if a vacancy shall occur in the
office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by or pursuant to a Board Resolution, shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of that
or those series (it being understood that any such successor Trustee may be
appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 609.  If,
within six months after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to the Securities
of any series shall be appointed by Act of the Holders of a majority in
principal amount of the Outstanding Securities of such series delivered to the
Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 609, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company. 
If no successor Trustee with respect to the Securities of any series
shall have been so appointed by the Company or the Holders of Securities and
accepted appointment in the manner required by Section 609, any Holder of
a Security who has been a bona fide Holder of a Security 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 appointment of a successor
Trustee with respect to the Securities of such series.

 

(f)            The Company shall give notice of
each resignation and each removal of the Trustee with respect to the Securities
of any series and each appointment of a successor Trustee with respect to the
Securities of any series by mailing written notice of such event by first-class
mail, postage prepaid, to the Holders of Registered Securities, if any, of such
series as their names and addresses appear in the Security Register and, if
Securities of such series are issued as Bearer Securities, by publishing notice
of such event once in an Authorized Newspaper in each Place of Payment located
outside the United States.  Each notice
shall include the name of the successor Trustee with respect to the Securities
of such series and the address of its Corporate Trust Office.

 

Section 609.           Acceptance of Appointment by Successor.  (a) Upon the appointment hereunder of
any successor Trustee with respect to all Securities, such successor Trustee so
appointed shall execute, acknowledge and deliver to the 

 

67

 

Company,
the Guarantors and the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring Trustee
shall become effective and such successor Trustee, without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and
duties hereunder of the retiring Trustee; but, on the request of the Company,
any Guarantor or such successor Trustee, such retiring Trustee, upon payment of
its charges, shall execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee
and, subject to Section 1003, shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee
hereunder, subject nevertheless to its claim, if any, provided for in Section 606.

 

(b)           Upon the appointment hereunder of any
successor Trustee with respect to the Securities of one or more (but not all)
series, the Company, the Guarantors, the retiring Trustee and such successor
Trustee shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (i) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, such successor Trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee
relates, (ii) if the retiring Trustee is not retiring with respect to all
Securities, shall contain such provisions as shall be deemed necessary or
desirable to confirm that all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the
retiring Trustee, and (iii) 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, that each such Trustee shall be trustee of a
trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee and that no Trustee shall be responsible
for any notice given to, or received by, or any act or failure to act on the
part of any other Trustee hereunder, and, upon the execution and delivery of
such supplemental indenture, the resignation or removal of the retiring Trustee
shall become effective to the extent provided therein, such retiring Trustee
shall have no further responsibility for the exercise of rights and powers or
for the performance of the duties and obligations vested in the Trustee under
this Indenture with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates other than as hereinafter expressly
set forth, and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor Trustee relates; but, on request of
the Company, any Guarantor or such successor Trustee, such retiring Trustee,
upon payment of 

 

68

 

its charges with respect to
the Securities of that or those series to which the appointment of such
successor relates and subject to Section 1003 shall duly assign, transfer
and deliver to such successor Trustee, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, subject to its claim, if any,
provided for in Section 606.

 

(c)           Upon request of any Person appointed
hereunder as a successor Trustee, the Company and the Guarantors shall execute
any and all instruments for more fully and certainly vesting in and confirming
to such successor Trustee all such rights, powers and trusts referred to in
paragraph (a) or (b) of this Section, as the case may be.

 

(d)           No Person shall accept its
appointment hereunder as a successor Trustee unless at the time of such
acceptance such successor Person shall be qualified and eligible under this
Article.

 

Section 610.           Merger, Conversion, Consolidation or
Succession to Business.  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 otherwise be qualified and eligible under this Article),
without the execution or filing of any paper or any further act on the part of
any of the parties hereto.  In case any
Securities shall have been authenticated but not delivered by the Trustee then
in office, any such successor to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities. In case
any Securities shall not have been authenticated by such predecessor Trustee,
any such successor Trustee may authenticate and deliver such Securities in
either its own name or that of its predecessor Trustee.

 

Section 611.           Appointment of Authenticating Agent.  The Trustee may appoint one or more
Authenticating Agents acceptable to the Company with respect to one or more
series of Securities which shall be authorized to act on behalf of the Trustee
to authenticate Securities of that or those series issued upon original issue,
exchange, registration of transfer, partial redemption, partial repayment,
partial conversion or exchange for Common Shares or other securities or
property, or pursuant to Section 306, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder.  Wherever reference is made in this Indenture
to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be 

 

69

 

deemed
to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent.

 

Each Authenticating Agent
shall be acceptable to the Company and, except as provided in or pursuant to
this Indenture, shall at all times be a Corporation that would be permitted by
the Trust Indenture Act to act as trustee under an indenture qualified under
the Trust Indenture Act, is authorized under applicable law and by its charter
to act as an Authenticating Agent and has a combined capital and surplus
(computed in accordance with Section 310(a)(2) of the Trust Indenture
Act) of at least $50,000,000.  If at any
time an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect specified in this Section.

 

Any Corporation into which
an 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 such Authenticating Agent shall be a party, or any
Corporation succeeding to all or substantially all of the corporate agency or
corporate trust business of an Authenticating Agent, shall be the successor of
such Authenticating Agent hereunder, provided such Corporation shall be
otherwise eligible under this Section, without the execution or filing of any
paper or any further act on the part of the Trustee or the Authenticating
Agent.

 

An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustee and the
Company.  The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof
to such Authenticating Agent and the Company. 
Upon receiving such a notice of resignation or upon such a termination,
or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustee may appoint a
successor Authenticating Agent which shall be acceptable to the Company and
shall (i) mail written notice of such appointment by first-class mail,
postage prepaid, to all Holders of Registered Securities, if any, of the series
with respect to which such Authenticating Agent shall serve, as their names and
addresses appear in the Security Register, and (ii) if Securities of the
series are issued as Bearer Securities, publish notice of such appointment at
least once in an Authorized Newspaper in the place where such successor
Authenticating Agent has its principal office if such office is located outside
the United States.  Any successor
Authenticating Agent, upon acceptance of its appointment hereunder, shall
become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating
Agent.  No successor Authenticating Agent
shall be appointed unless eligible under the provisions of this Section.

 

70

 

The Company agrees to pay
each Authenticating Agent from time to time reasonable compensation for its
services under this Section.

 

The provisions of Sections
308, 603, and 604 shall be applicable to each Authenticating Agent.

 

If an Authenticating Agent
is appointed with respect to one or more series of Securities pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition
to or in lieu of the Trustee’s certificate of authentication, an alternate
certificate of authentication in substantially the following form:

 

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

 

	
   

  	
   

  	
   

  	
  THE BANK OF NEW YORK
  MELLON TRUST COMPANY, N.A.,

  
	
   

  	
   

  	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  As Authenticating Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Authorized Signatory

  

 

If all of the Securities of
any series may not be originally issued at one time, and if the Trustee does
not have an office capable of authenticating Securities upon original issuance
located in a Place of Payment where the Company wishes to have Securities of
such series authenticated upon original issuance, the Trustee, if so requested
in writing (which writing need not be accompanied by or contained in an Officers’
Certificate of the Company), shall appoint in accordance with this Section an
Authenticating Agent having an office in a Place of Payment designated by the
Company with respect to such series of Securities.

 

Section 612.           Certain Duties and Responsibilities.

 

(a)           Except during the continuance of an
Event of Default,

 

(i)            the
Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied 

 

71

 

covenants
or obligations shall be read into this Indenture against the Trustee; and

 

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

 

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

 

(c)           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:

 

(i)            this
Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;

 

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

 

(iii)          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 of a
majority in principal amount of the Outstanding Securities of any series,
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 with respect to the Securities of such series;
and

 

(iv)          no
provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if it
shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it.

 

72

 

(d)           Whether
or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection
to the Trustee shall be subject to the provisions of this Section.

 

ARTICLE 7

HOLDERS
LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTORS

 

Section 701.           Company to Furnish Trustee Names and
Addresses of Holders.  In
accordance with Section 312(a) of the Trust Indenture Act, the
Company shall furnish or cause to be furnished to the Trustee

 

(a)           semi-annually with respect to
Securities of each series upon such dates as are set forth in or pursuant to
the Board Resolution or indenture supplemental hereto authorizing such series,
a list, in each case in such form as the Trustee may reasonably require, of the
names and addresses of Holders as of the applicable date, and

 

(b)           at such other times as the Trustee
may request in writing, within 30 days after the receipt by the Company of any
such request, a list of similar form and content as of a date not more than 15
days prior to the time such list is furnished,

 

provided, however, that so long as the Trustee is
the Security Registrar no such list shall be required to be furnished.

 

Section 702.           Preservation of Information; Communications
to Holders.  The Trustee shall
comply with the obligations imposed upon it pursuant to Section 312 of the
Trust Indenture Act.

 

Every Holder of Securities
or Coupons, by receiving and holding the same, agrees with the Company, the
Guarantors and the Trustee that none of the Company, the Guarantors, the
Trustee, any Paying Agent or any Security Registrar shall be held accountable
by reason of the disclosure of any such information as to the names and
addresses of the Holders of Securities in accordance with Section 312(c) of
the Trust Indenture Act, regardless of the source from which such information
was derived, and that the Trustee shall not be held accountable by reason of
mailing any material pursuant to a request made under Section 312(b) of
the Trust Indenture Act.

 

Section 703.           Reports By Trustee.  (a) Within 60 days after May 15 of
each year commencing with the first May 15 following the first issuance of
Securities pursuant to Section 301, if required by Section 313(a) of
the Trust Indenture Act, the Trustee shall transmit, pursuant to Section 313(c) of
the Trust Indenture Act, a brief report dated as of such May 15 with
respect to any of the

 

73

 

events
specified in said Sections 313(a) and 313(b)(2) which may have
occurred since the later of the immediately preceding May 15 and the date
of this Indenture.

 

(b)           The Trustee shall transmit the
reports required by Section 313(a) of the Trust Indenture Act at the
times specified therein.

 

(c)           Reports pursuant to this Section shall
be transmitted in the manner and to the Persons required by Sections 313(c) and
313(d) of the Trust Indenture Act.

 

Section 704.           Reports By Company and Guarantors.  The Company and each Guarantor, pursuant to Section 314(a) of
the Trust Indenture Act, shall:

 

(a)           file with the Trustee, within 15 days
after the Company or such Guarantor, as the case may be, is required to file
the same with the Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the Commission may from time to time by rules and
regulations prescribe) which the Company or such Guarantor, as the case may be,
may be required to file with the Commission pursuant to Section 13 or Section 15(d) of
the Exchange Act; or, if the Company or any Guarantor is not required to file
information, documents or reports pursuant to either of said Sections, then it
shall file with the Trustee and the Commission, in accordance with rules and
regulations prescribed from time to time by the Commission, such of the
supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Exchange Act in respect of a
security listed and registered on a national securities exchange as may be
prescribed from time to time in such rules and regulations;

 

(b)           file with the Trustee and the
Commission, in accordance with rules and regulations prescribed from time
to time by the Commission, such additional information, documents and reports
with respect to compliance by the Company or such Guarantor, as the case may
be, with the conditions and covenants of this Indenture as may be required from
time to time by such rules and regulations; and

 

(c)           transmit within 30 days after the
filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c) of
the Trust Indenture Act, such summaries of any information, documents and
reports required to be filed by the Company or such Guarantor, as the case may
be, pursuant to paragraphs (1) and (2) of this Section as may be
required by rules and regulations prescribed from time to time by the
Commission.

 

Delivery of such reports,
information and documents to the Trustee is for informational purposes only and
the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained
therein, including the Company’s compliance with any of 

 

74

 

its covenants hereunder (as
to which the Trustee is entitled to rely exclusively on Officers’
Certificates).

 

Section 705.           Statement by Officers
as to Default.  The Company
shall deliver to the Trustee, as soon as possible and in any event within five
days after the Company becomes aware of the occurrence of any Event of Default
or an event which, with notice or the lapse of time or both, would constitute
an Event of Default, an Officers’ Certificate setting forth the details of such
Event of Default or default and the action which the Company proposes to take
with respect thereto.

 

ARTICLE 8

CONSOLIDATION,
MERGER AND SALES

 

Section 801.           Company May Consolidate, Etc., Only on
Certain Terms.  The Company
shall not, in any transaction or series of related transactions, consolidate
with, or sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its property and assets to, or merge with or into or wind
up into, any Person unless:

 

(a)           either (i) the Company shall be
the continuing Person (in the case of a merger) or (ii) the successor
Person (if other than the Company) formed by or resulting from the
consolidation or merger or to which such sale, assignment, transfer, lease,
conveyance or other disposition shall have been made shall be an entity
organized or existing under the laws of the United States of America, any state
thereof or the District of Columbia and shall expressly assume the due and
punctual payment of the principal of, premium, if any, and interest, if any,
on, and Additional Amounts, if any, with respect to, all Securities Outstanding
under this Indenture and the due and punctual performance and observance of all
covenants and conditions in such Outstanding Securities and this Indenture to
be performed or satisfied by the Company (including, without limitation, the
obligation to convert or exchange any Securities that are convertible into or
exchangeable for other securities or property in accordance with the provisions
of such Securities and this Indenture) by a supplemental indenture reasonably
satisfactory in form to the Trustee;

 

(b)           immediately after giving effect to
such transaction, no Event of Default, and no event which, after notice or
lapse of time, or both, would become an Event of Default, shall have occurred
and be continuing; and

 

(c)           either the Company or the successor
Person shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger, sale,
assignment, transfer, lease or other conveyance and, if a supplemental
indenture is required in connection with such transaction, such supplemental
indenture comply with this Article and that all conditions 

 

75

 

precedent herein provided
for relating to such transaction have been complied with.

 

Section 802.           Successor Person Substituted for Company.  In the case of any such merger,
consolidation, sale, assignment, transfer, lease, conveyance or other
disposition in which the Company is not the continuing entity and upon
execution and delivery by the successor Person of the supplemental indenture
described in Section 801, such successor Person shall succeed to, and be
substituted for, the Company and may exercise every right and power of, the
Company under this Indenture with the same effect as if such successor Person
had been named as the Company herein, and the predecessor Company shall be
automatically released and discharged from all obligations and covenants under
this Indenture, the Securities and the Coupons.

 

ARTICLE 9

SUPPLEMENTAL
INDENTURES

 

Section 901.           Supplemental Indentures Without Consent of
Holders.  Without the consent
of any Holders of Securities or Coupons, the Company (when authorized by or
pursuant to a Board Resolution), the Guarantors (each when authorized by a
Guarantor’s Board Resolution) and the Trustee, at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form reasonably
satisfactory to the Trustee, for any of the following purposes:

 

(a)           to evidence the succession of another
Person to the Company or a Guarantor, and the assumption by any such successor
of the covenants of the Company or such Guarantor, as the case may be,
contained herein and in the Securities or the Guarantees of such Guarantor, as
the case may be; or

 

(b)           to add to the covenants of the
Company or any Guarantor for the benefit of the Holders of all or any series of
Securities (as shall be specified in such supplemental indenture or indentures)
or to surrender any right or power herein conferred upon the Company or any
Guarantor with respect to all or any series of Securities issued under this
Indenture (as shall be specified in such supplemental indenture or indentures);
or

 

(c)           to add to or change any of the
provisions of this Indenture to facilitate the issuance of Bearer Securities,
to provide that Bearer Securities may be registrable as to principal, to change
or eliminate any restrictions on the payment of principal of, any premium or
interest on or any Additional Amounts with respect to Securities, to permit
Bearer Securities to be issued in exchange for Registered Securities, to permit
Bearer Securities to be exchanged for Bearer Securities of other authorized
denominations or to permit or facilitate the issuance of Securities in
uncertificated or global form, provided any such action shall not 

 

76

 

adversely affect the
interests of the Holders of Securities of any series then Outstanding or any
Coupons appertaining thereto; or

 

(d)           to establish the form or terms of
Securities of any series and any Coupons appertaining thereto and any
Guarantees thereof as permitted by Sections 201 and 301, including, without
limitation, any conversion or exchange provisions applicable to Securities
which are convertible into or exchangeable for other securities or property,
the Guarantors of the Securities of such series (which may, but need not,
include any or all of the Initial Guarantors), the terms of the Guarantees of
such Securities, and to establish any provisions with respect to any security
or other collateral for such Securities or Guarantees, and to make any
deletions from or additions or changes to this Indenture in connection with any
matters referred to in this clause (d) (provided that any such deletions,
additions and changes shall not be applicable to any other series of Securities
then Outstanding); or

 

(e)           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 609; or

 

(f)            to comply with the Article Eight;
or

 

(g)           to cure any ambiguity, omission,
defect or inconsistency or to correct or supplement any provision herein which
may be defective or which may be inconsistent with any other provision herein,
or to make any other provisions with respect to matters or questions arising
under this Indenture which shall not adversely affect the interests of the
Holders of Securities of any series then Outstanding or any Coupons
appertaining thereto in any material respect; or

 

(h)           to add any additional Events of
Default with respect to all or any series of Securities (as shall be specified
in such supplemental indenture); or

 

(i)            to supplement any of the provisions
of this Indenture to such extent as shall be necessary to permit or facilitate
the defeasance, covenant defeasance and/or satisfaction and discharge of any
series of Securities pursuant to Article Four, provided that any such
action shall not adversely affect the interests of any Holder of a Security of
such series and any Coupons appertaining thereto or any other Security or
Coupon in any material respect; or

 

(j)            to comply with requirements of the
Commission in order to effect or maintain the qualification of this Indenture
under the Trust Indenture Act of 1939; or

 

77

 

(k)           to add additional Guarantees or
additional Guarantors in respect of all or any Securities under this Indenture,
and to evidence the release and discharge of any Guarantor from its obligations
under its Guarantee of any or all Securities and its obligations under this
Indenture in respect of any or all Securities in accordance with the terms of
this Indenture; or

 

(l)            to secure or, if applicable, to
provide additional security for all or any Securities or Guarantees issued
under this Indenture and to provide for any and all matters relating thereto,
and to provide for the release of any collateral as security for all or any
Securities, Guarantees in accordance with the terms of this Indenture; or

 

(m)          to make any change in this Indenture
or any Securities or Guarantees to conform the terms thereof to the terms
reflected in any prospectus, prospectus supplement, offering memorandum or similar
offering document used in connection with the initial offering or sale of any
Securities or Guarantees; or

 

(n)           in the case of any series of
Securities which are convertible into or exchangeable for Common Shares or
other securities or property, to safeguard or provide for the conversion or
exchange rights, as the case may be, of such Securities in the event of any
reclassification or change of outstanding Common Shares (or any other
securities of the Company into which such Securities are convertible or for
which such Securities are exchangeable), or in the event of any merger,
consolidation, statutory share exchange or combination of the Company with or
into another Person or any sale, lease, assignment, transfer, disposition or
other conveyance of all or substantially all of the properties and assets of
the Company to any other Person or other similar transactions, if expressly
required by the terms of such series of Securities established pursuant to Section 301;
or

 

(o)           to amend or supplement any provision
contained herein or in any Securities or Guarantees (which amendment or
supplement may apply to one or more series of Securities or Guarantees or to
one or more Securities or Guarantees within any series as specified in such
supplemental indenture), provided that such amendment or supplement does not
apply to any Outstanding Security or any Guarantee of any Outstanding Security
issued prior to the date of such supplemental indenture and entitled to the
benefits of such provision.

 

Section 902.           Supplemental Indentures With Consent of
Holders.  With the consent of
the Holders of not less than a majority in principal amount of the Outstanding
Securities of each series affected by such supplemental indenture, by Act of
said Holders delivered to the Company and the Trustee, the Company (when
authorized by or pursuant to a Board Resolution), the Guarantors (each when
authorized by or pursuant to a Guarantor’s Board Resolution) and the Trustee
may enter into an indenture or indentures supplemental hereto for the purpose
of adding any provisions to or changing in any manner or eliminating any 

 

78

 

of
the provisions of this Indenture or of the Securities of such series or the
Guarantees of such Securities or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; provided, that no
such supplemental indenture, without the consent of the Holder of each
Outstanding Security affected thereby, shall

 

(a)           change the Stated Maturity of the
principal of, or premium, if any, or any installment of interest, if any, on,
or any Additional Amounts, if any, with respect to, any Security, or reduce the
principal amount thereof or the premium, if any, thereon or the rate (or modify
the calculation of such rate) of interest thereon, or reduce the amount payable
upon redemption, whether such redemption is mandatory or at the option of the
Company, or upon repayment thereof at the option of the Holder, or reduce any
Additional Amounts payable with respect thereto, or change the obligation of
the Company to pay Additional Amounts pursuant to Section 1004 (except as
contemplated by Section 801 and permitted by Section 901), or reduce
the amount of the principal of any Original Issue Discount Security that would
be due and payable upon a declaration of acceleration of the Maturity thereof
pursuant to Section 502 or the amount thereof provable in bankruptcy
pursuant to Section 504, or adversely affect the right of repayment at the
option of any Holder as contemplated by Article Thirteen, or change the
Place of Payment where or the Currency in which the principal of, any premium
or interest on, or any Additional Amounts with respect to any Security is
payable, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity thereof (or, in the case of redemption,
on or after the Redemption Date or, in the case of repayment pursuant to Article Thirteen
at the option of the Holder, on or after the date for repayment) in each case
as such Stated Maturity, Redemption Date or date for repayment may, if
applicable, be extended in accordance with the terms of such Security or any
Coupon appertaining thereto, or in the case of any Security which is convertible
into or exchangeable for other securities or property, impair the right to
institute suit to enforce the right to convert or exchange such Security in
accordance with its terms, or

 

(b)           reduce the percentage in principal
amount of the Outstanding Securities of any series, the consent of whose
Holders is required for any such supplemental indenture, or the consent of
whose Holders is required for any waiver (of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences)
provided for in Section 513 or 1006 of this Indenture, or reduce the
requirements of Section 1504 for quorum or voting, or

 

(c)           make any change that adversely
affects the right, if any, to convert or exchange any Security for Common
Shares or other securities or property in accordance with its terms, or

 

79

 

(d)           modify any of the provisions of this
Section, Section 513 or Section 1006, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot
be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby, or

 

(e)           modify or affect in any manner
adverse to the Holders of the Securities of any series the terms and conditions
of the obligations of the Guarantors in respect of the due and punctual
payments of principal of, or premium, if any, or interest, if any, on or any
sinking fund requirements or Additional Amounts or other amounts payable with
respect to, the Securities of such series; or release any Guarantor from any of
its obligations under any of its Guarantees of the Securities of any series or
its obligations under this Indenture in respect of the Securities of any series
except in accordance with the terms set forth herein.

 

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

 

Anything in this Indenture
to the contrary notwithstanding, if more than one series of Securities is
Outstanding, the Company and the Guarantors shall be entitled to enter into a
supplemental indenture under this Section 902 with respect to any one or
more series of Outstanding Securities without entering into a supplemental
indenture with respect to any other series of Outstanding Securities.

 

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

 

Section 903.           Execution of Supplemental Indentures.  As a condition to executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article or
the modifications thereby of the trust created by this Indenture, the Trustee
shall be given, and (subject to Sections 315(a) through 315(d) of the
Trust Indenture Act) shall be fully protected in relying upon, an Officers’
Certificate and Opinion of Counsel to the effect that the execution of such
supplemental indenture is authorized or permitted by this Indenture and that
such supplemental indenture has been duly authorized, executed and delivered
by, and is a valid, binding and enforceable obligation of, the Company and the
Guarantors, subject to customary exceptions. 
The Trustee may, but 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.

 

80

 

Section 904.           Effect of Supplemental Indentures.  Upon the execution of any supplemental
indenture under this Article, this Indenture shall be modified in accordance
therewith, and such supplemental indenture shall form a part of this Indenture
for all purposes; and every Holder of a Security theretofore or thereafter
authenticated and delivered hereunder and of any Coupon appertaining thereto
shall be bound thereby.

 

Section 905.           Reference in Securities to Supplemental
Indentures.  Securities of any
series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the
Trustee, bear a notation in form approved by the Trustee as to any matter provided
for in such supplemental indenture.  If
the Company shall so determine, new Securities of any series so modified as to
conform, in the opinion of the Trustee and the Company, to any such
supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

 

Section 906.           Conformity With Trust Indenture Act.  Every supplemental indenture executed
pursuant to this Article shall conform to the requirements of the Trust
Indenture Act as then in effect.

 

ARTICLE 10

COVENANTS

 

Section 1001.         Payment of Principal, Premium, Interest and
Additional Amounts.  The
Company covenants and agrees for the benefit of the Holders of the Securities
of each series that it will duly and punctually pay the principal of, any
premium and interest on and any Additional Amounts with respect to the
Securities of such series, whether payable in cash, Common Shares or other
securities or property, in accordance with the terms thereof, any Coupons
appertaining thereto and this Indenture. 
Any interest due on any Bearer Security on or before the Maturity
thereof, and any Additional Amounts payable with respect to such interest,
shall be payable only upon presentation and surrender of the Coupons
appertaining thereto for such interest as they severally mature.

 

Section 1002.         Maintenance of Office or Agency.  The Company shall maintain in each Place of
Payment for any series of Securities an Office or Agency where Securities of
such series (but not Bearer Securities, except as otherwise provided below,
unless such Place of Payment is located outside the United States) may be
presented or surrendered for payment, where Securities of such series may be
surrendered for registration of transfer or exchange, where Securities of such
series that are convertible or exchangeable may be surrendered for conversion
or exchange, and where notices and demands to or upon the Company in respect of
the Securities of such series relating thereto and this 

 

81

 

Indenture
may be served.  If Securities of a series
are issuable as Bearer Securities, the Company shall maintain, subject to any
laws or regulations applicable thereto, an Office or Agency in a Place of Payment
for such series which is located outside the United States where Securities of
such series and any Coupons appertaining thereto may be presented and
surrendered for payment; provided, however, that if the Securities of such
series are listed on any stock exchange located outside the United States and
such stock exchange shall so require, the Company shall maintain a Paying Agent
in a city located outside the United States required by such stock exchange, so
long as the Securities of such series are listed on such exchange.  The Company will give prompt written notice
to the Trustee of the location, and any change in the location, of such Office
or Agency.  If at any time the Company
shall fail to maintain any such required Office or Agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Trustee, except that Bearer Securities of such series and any Coupons
appertaining thereto may be presented and surrendered for payment at the place
specified for the purpose with respect to such Securities as provided in or
pursuant to this Indenture, and the Company hereby appoints the Trustee as its
agent to receive all such presentations, surrenders, notices and demands.

 

Except as otherwise provided
in or pursuant to this Indenture, no payment of principal, premium, interest or
Additional Amounts with respect to Bearer Securities shall be made at any
Office or Agency in the United States or by check mailed to any address in the
United States or by transfer to an account maintained with a bank located in
the United States; provided, however, if amounts owing with respect to any
Bearer Securities shall be payable in Dollars, payment of principal of, any
premium or interest on and any Additional Amounts with respect to any such
Security may be made at the Corporate Trust Office of the Trustee or any Office
or Agency designated by the Company in the United States designated for such
purpose, if (but only if) payment of the full amount of such principal,
premium, interest or Additional Amounts at all offices outside the United
States maintained for such purpose by the Company in accordance with this
Indenture is illegal or effectively precluded by exchange controls or other
similar restrictions (in which case the Company shall so notify the Trustee in
writing).

 

The Company may also from
time to time designate one or more other Offices or Agencies where the
Securities of one or more series may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the
Company of its obligations to maintain an Office or Agency in each Place of
Payment for Securities of any series for such purposes.  The Company shall give prompt written notice
to the Trustee of any such designation or rescission and of any change in the
location of any such other Office or Agency.

 

82

 

Unless otherwise provided in
or pursuant to this Indenture (including, without limitation, pursuant to Section 301
with respect to the Securities of any series), the Company hereby designates
the place where the Trustee shall from time to time maintain its Corporate
Trust Office as the Company’s Office or Agency for such purpose and initially
appoints the Trustee as the  Security
Registrar for each series of Securities and, if the Securities of any series
are convertible into or exchangeable for Common Shares or other securities or
property, initially appoints the Trustee as conversion or exchange agent, as
the case may be, for the Securities of such series. The Company may
subsequently appoint a different or additional Office or Agency and, as
provided in Section 305, may remove and replace from time to time the
Security Registrar.

 

Section 1003.         Money for Securities Payments to be Held in
Trust.  If the Company shall
at any time act as its own Paying Agent with respect to any series of
Securities, it shall, on or before each due date of the principal of, any
premium or interest on, or any Additional Amounts with respect to any of the
Securities of such series, segregate and hold in trust for the benefit of the
Persons entitled thereto a sum in the Currency or Currencies in which the
Securities of such series are payable sufficient to pay the principal, any
premium, interest and Additional Amounts, as the case may be, so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as
herein provided, and shall promptly notify the Trustee of its action or failure
so to act.

 

Whenever the Company shall
have one or more Paying Agents for any series of Securities, it shall, on or
prior to each due date of the principal of, or any premium or interest on or
any Additional Amounts with respect to, any Securities of such series, deposit
with any Paying Agent a sum (in the Currency or Currencies described in the
preceding paragraph) sufficient to pay the principal, premium, interest and
Additional Amounts, as the case may be, so becoming due, such sum to be held in
trust for the benefit of the Persons entitled thereto, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its action
or failure so to act.

 

The Company shall cause each
Paying Agent for any series of Securities other than the Trustee to execute and
deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying
Agent shall:

 

(a)           hold all sums held by it for the
payment of the principal of, any premium or interest on or any Additional
Amounts with respect to Securities of such series in trust for the benefit of
the Persons entitled thereto until such sums shall be paid to such Persons or
otherwise disposed of as provided in or pursuant to this Indenture;

 

83

 

(b)           give the Trustee notice of any
default by the Company (or any other obligor upon the Securities of such
series) in the making of any payment of principal, any premium or interest on
or any Additional Amounts with respect to the Securities of such series; and

 

(c)           at any time during the continuance of
any such default, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such Paying Agent.

 

The Company may at any time,
for the purpose of obtaining the satisfaction and discharge of this Indenture
or for any other purpose, pay, or by Company Order direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent,
such sums to be held by the Trustee upon the same terms as those upon which
such sums were held by the Company or such Paying Agent; and, upon such payment
by any Paying Agent to the Trustee, such Paying Agent shall be released from
all further liability with respect to such sums.

 

Except as otherwise provided
herein or pursuant hereto, any money deposited with the Trustee or any Paying
Agent, or then held by the Company, in trust for the payment of the principal
of, any premium or interest on or any Additional Amounts with respect to any
Security of any series or any Coupon appertaining thereto and remaining
unclaimed for two years after such principal or such premium or interest or
Additional Amount shall have become due and payable shall be paid to the
Company on Company Request (or if deposited by a Guarantor, paid to such
Guarantor on Guarantor Request), or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Security or any Coupon
appertaining thereto shall thereafter, as an unsecured general creditor, look
only to the Company or such Guarantor, as the case may be, for payment thereof,
and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Company as trustee thereof, shall
thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may, not later than 30 days
after the Company’s or such Guarantor’s, as the case may be, request for such
repayment, at the expense of the Company or such Guarantor, as the case may be,
cause to be published once, in an Authorized Newspaper in each Place of Payment
for such series or to be mailed to Holders of Registered Securities of such
series, or both, notice that such money remains unclaimed and that, after a
date specified therein, which shall not be less than 30 days from the date of
such publication or mailing nor shall it be earlier than two years after such
principal and any premium or interest or Additional Amounts shall have become
due and payable, any unclaimed balance of such money then remaining will be
repaid to the Company or the applicable Guarantor, as the case may be.

 

84

 

Section 1004.         Additional Amounts.  If any Securities of a series provide for the
payment of Additional Amounts by the Company, the Company agrees to pay to the
Holder of any such Security or any Coupon appertaining thereto Additional
Amounts as provided in or pursuant to this Indenture or such Securities; and,
if the Guarantee of the Securities of a series provides for the payment of
Additional Amounts by any Guarantor of the Securities of such series, each such
Guarantor agrees to pay to the Holder of any such Security or any Coupon
appertaining thereto Additional Amounts as provided in or pursuant to this
Indenture or its Guarantee of such Security. 
Whenever in this Indenture there is mentioned, in any context, the
payment of the principal of or any premium or interest on, or in respect of,
any Security of any series or any Coupon or Guarantee, such mention shall be
deemed to include mention of the payment of Additional Amounts provided by the
terms of such series established hereby or pursuant hereto to the extent that,
in such context, Additional Amounts are, were or would be payable in respect
thereof pursuant to such terms, and express mention of the payment of
Additional Amounts (if applicable) in any provision hereof shall not be
construed as excluding Additional Amounts in those provisions hereof where such
express mention is not made.

 

Section 1005.         Legal Existence.  Subject to Article Eight, the Company
shall do or cause to be done all things necessary to preserve and keep in full
force and effect its legal existence as any type of Corporation (it being
understood that nothing in this Section 1005 shall prohibit the Company
from changing its legal form from one type of Corporation to another type of
Corporation).

 

Section 1006.         Waiver of Certain Covenants.  The Company may omit in any particular
instance to comply with any term, provision or condition set forth in Sections
801, 802, 1002, 1003 or 1005 with respect to the Securities of any series and,
if expressly provided pursuant to Section 301 with respect to the
Securities of such series, any additional covenants applicable to the Securities
of such series if before the time for such compliance the Holders of at least a
majority in principal amount of the Outstanding Securities of such series, by
Act of such Holders, either shall waive such compliance in such instance or
generally shall have waived compliance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and
effect.

 

Section 1007.         Company Statement as to Compliance.  The Company shall deliver to the Trustee,
within 120 days after the end of each fiscal year, a written statement (which
need not be contained in or accompanied by an Officers’ Certificate) signed by
the principal executive officer, the principal financial officer or the
principal accounting officer of the Company, stating whether or not, to the
best of his or her knowledge, the Company is in default in the performance 

 

85

 

and
observance of any of the terms, provisions and conditions of this Indenture
(without regard to notice requirements or periods of grace) and if the Company
shall be in default, specifying all such defaults and the nature and status
thereof of which he or she may have knowledge.

 

Section 1008.         Guarantor Statement as to Compliance.  Each Guarantor shall deliver to the Trustee,
within 120 days after the end of each fiscal year, a written statement (which
need not be contained in or accompanied by a Guarantor’s Officers’ Certificate)
signed by the principal executive officer, the principal financial officer or the
principal accounting officer of such Guarantor, stating whether or not, to the
best of his or her knowledge, such Guarantor is in default in the performance
and observance of any of the terms, provisions and conditions of this Indenture
(without regard to notice requirements or periods of grace) and if such
Guarantor shall be in default, specifying all such defaults and the nature and
status thereof of which he or she may have knowledge.

 

ARTICLE 11

REDEMPTION
OF SECURITIES

 

Section 1101.         Applicability of Article.  Redemption of Securities of any series at the
option of the Company as permitted or required by the terms of such Securities
shall be made in accordance with the terms of such Securities and (except as
otherwise provided herein or pursuant hereto) this Article.

 

Section 1102.         Election to Redeem; Notice to Trustee.  The election of the Company to redeem any
Securities shall be evidenced by or pursuant to a Board Resolution.  In case of any redemption at the election of
the Company of less than all of the Securities of any series, the Company
shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date and of the principal amount of Securities of
such series to be redeemed and, in the event that the Company shall determine
that the Securities of any series to be redeemed shall be selected from
Securities of such series having the same issue date, interest rate or interest
rate formula, Stated Maturity and other terms (the “Equivalent Terms”), the Company shall notify the Trustee of
such Equivalent Terms.

 

In the case of any
redemption of Securities (A) prior to the expiration of any restriction on
such redemption provided in the terms of such Securities or elsewhere in this
Indenture or (B) pursuant to an election of the Company which is subject
to a condition specified in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
evidencing compliance with such restriction or condition.

 

86

 

Section 1103.         Selection by Trustee of Securities to be
Redeemed.  If less than all of
the Securities of any series are to be redeemed or if less than all of the
Securities of any series with Equivalent Terms are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee from the Outstanding Securities of such
series or from the Outstanding Securities of such series with Equivalent Terms,
as the case may be, not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection
for redemption of portions of the principal amount of Registered Securities of
such series; provided, however, that no such partial redemption shall reduce
the portion of the principal amount of a Security of such series not redeemed
to less than the minimum denomination for a Security of such series established
herein or pursuant hereto.

 

The Trustee shall promptly
notify the Company and the Security Registrar (if other than itself) in writing
of the Securities selected for redemption and, in the case of any Securities
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 shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal of
such Securities which has been or is to be redeemed.

 

Unless otherwise specified
in or pursuant to this Indenture or the Securities of any series or in a notice
of redemption, if any Security selected for partial redemption is converted or
exchanged for Common Shares or other securities or property in part before
termination of the conversion or exchange right with respect to the portion of
the Security so selected, the converted or exchanged portion of such Security
shall be deemed (so far as may be) to be the portion selected for
redemption.  Securities which have been
converted or exchanged during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection.

 

Section 1104.         Notice of Redemption.  Notice of redemption shall be given in the
manner provided in Section 106, not less than 30 nor more than 60 days
prior to the Redemption Date, unless a shorter period is specified in the
Securities to be redeemed, to the Holders of Securities to be redeemed.  Failure to give notice by mailing in the
manner herein provided to the Holder of any Registered Securities designated
for redemption as a whole or in part, or any defect in the notice to any such
Holder, shall not affect the validity of the proceedings for the redemption of
any other Securities or portions thereof.

 

87

 

Any notice that is mailed to
the Holder of any Registered Securities in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not such Holder
receives the notice.

 

All notices of redemption
shall state:

 

(a)           the Redemption Date,

 

(b)           the Redemption Price or, if
applicable, the manner in which the Redemption Price will be determined,

 

(c)           if less than all Outstanding
Securities of any series are to be redeemed, the identification (and, in the
case of partial redemption, the principal amount) of the particular Security or
Securities to be redeemed,

 

(d)           that, in case any Security is to be
redeemed in part only, on and after the Redemption Date, upon surrender of such
Security, the Holder of such Security will receive, without charge, a new
Security or Securities of authorized denominations for the principal amount
thereof remaining unredeemed,

 

(e)           that, on the Redemption Date, the
Redemption Price shall become due and payable upon each such Security or
portion thereof to be redeemed, together (if applicable) with accrued and unpaid
interest, if any, thereon (subject, if applicable, to the provisos to the first
paragraph of Section 1106), and, if applicable, that interest thereon
shall cease to accrue on and after said date,

 

(f)            the place or places where such
Securities, together (in the case of Bearer Securities) with all Coupons
appertaining thereto, if any, maturing after the Redemption Date, are to be
surrendered for payment of the Redemption Price and any accrued interest and
Additional Amounts pertaining thereto,

 

(g)           that the redemption is for a sinking
fund, if such is the case,

 

(h)           that, unless otherwise specified in
such notice, Bearer Securities of any series, if any, surrendered for
redemption must be accompanied by all Coupons maturing subsequent to the date
fixed for redemption or the amount of any such missing Coupon or Coupons will
be deducted from the Redemption Price, unless security or indemnity
satisfactory to the Company, the Trustee and any Paying Agent is furnished,

 

(i)            if Bearer Securities of any series
are to be redeemed and any Registered Securities of such series are not to be
redeemed, and if such Bearer Securities may be exchanged for Registered
Securities not subject to redemption on the Redemption Date pursuant to Section 305
or otherwise, the last date, as determined by the Company, on which such
exchanges may be made,

 

88

 

(j)            in the case of Securities of any
series that are convertible or exchangeable into Common Shares or other
securities or property, the then current conversion or exchange price or rate,
the date or dates on which the right to convert or exchange the principal of
the Securities of such series to be redeemed will commence or terminate, as
applicable, and the place or places where and the Persons to whom such
Securities may be surrendered for conversion or exchange, and

 

(k)           the CUSIP number of such Securities,
if any.

 

A notice of redemption
published as contemplated by Section 106 need not identify particular
Registered Securities to be redeemed.

 

Notice of redemption of
Securities to be redeemed at the election of the Company shall be given by the
Company or, at the Company’s request and upon provision of such notice
information 10 days prior to the date the notice is to be sent, by the Trustee
in the name and at the expense of the Company.

 

Section 1105.         Deposit of Redemption Price.  On or prior to any Redemption Date, the
Company shall deposit, with respect to the Securities of any series called for
redemption pursuant to Section 1104, with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold
in trust as provided in Section 1003) an amount of money in the applicable
Currency or, if the Redemption Price shall be payable in cash, securities
and/or other property, an amount of money in the applicable Currency,
securities and/or other property, as the case may be, sufficient to pay the
Redemption Price of, and (unless otherwise specified pursuant to Section 301
with respect to the Securities of such series) any accrued interest on, all
such Securities or portions thereof which are to be redeemed on that date,
except that, if the Securities of such series are convertible or exchangeable
into Common Shares or other securities or property, no such deposit shall be
required (unless otherwise specified pursuant to Section 301 with respect
to the Securities of such series) with respect to any such Securities (or
portions thereof) which have been converted or exchanged prior to such
Redemption Date.

 

Section 1106.         Securities Payable on Redemption Date.  Notice of redemption having been given as
aforesaid, the Securities so to be redeemed (except, in the case of Securities
which are convertible or exchangeable into Common Shares or other securities or
property, any such Securities which shall have been so converted or exchanged
prior to the applicable Redemption Date) shall, on the Redemption Date, become
due and payable at the Redemption Price therein specified, together with
(unless otherwise provided with respect to the Securities of such series
pursuant to Section 301) accrued and unpaid interest, if any, thereon and
from and after such date (unless the Company shall default in the payment of
the Redemption Price and accrued interest, if any) such Securities 

 

89

 

shall
cease to bear interest and the Coupons for such interest appertaining to any
Bearer Securities so to be redeemed, except to the extent provided below, shall
be void.  Upon surrender of any such
Security for redemption in accordance with said notice, together with all
Coupons, if any, appertaining thereto maturing after the Redemption Date, such
Security shall be paid by the Company at the Redemption Price, together with,
unless otherwise provided in or pursuant to this Indenture, any accrued and
unpaid interest thereon and Additional Amounts with respect thereto to but
excluding the Redemption Date; provided,
however, that, except as
otherwise provided in or pursuant to this Indenture or the Bearer Securities of
such series, installments of interest on Bearer Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable only upon
presentation and surrender of Coupons for such interest (at an Office or Agency
located outside the United States except as otherwise provided in Section 1002),
and provided, further, that, except as otherwise
specified in or pursuant to this Indenture or the Registered Securities of such
series, installments of interest on Registered Securities whose Stated Maturity
is on or prior to the Redemption Date shall be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the
close of business on the Regular Record Dates therefor according to their terms
and the provisions of Section 307.

 

If any Bearer Security
surrendered for redemption shall not be accompanied by all appurtenant Coupons
maturing after the Redemption Date, such Security may be paid after deducting
from the Redemption Price or, at the option of the Company, after payment to
the Trustee for the benefit of the Company of, an amount equal to the face
amount of all such missing Coupons, or the surrender of such missing Coupon or
Coupons may be waived by the Company and the Trustee if there be furnished to
them such security or indemnity as they may require to save each of them and
any Paying Agent harmless from and against any and all loss, liability or
expense.  If thereafter the Holder of such
Security shall surrender to the Trustee or any Paying Agent any such missing
Coupon in respect of which a deduction shall have been made from the Redemption
Price, such Holder shall be entitled to receive the amount so deducted;
provided, however, that any interest or Additional Amounts represented by
Coupons shall be payable only upon presentation and surrender of those Coupons
at an Office or Agency for such Security located outside of the United States
except as otherwise provided in Section 1002.

 

If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal and any premium, until paid, shall bear interest from the Redemption
Date at the rate prescribed therefor in the Security or, if no rate is
prescribed therefor in the Security, at the rate of interest, if any, borne by
such Security.

 

Section 1107.         Securities Redeemed in Part.  Any Registered Security which is to be
redeemed only in part shall be surrendered at any Office or Agency 

 

90

 

for
such Security (with, if the Company or the Trustee so requires, due endorsement
by, or a written instrument of transfer in form satisfactory to the Company and
the Trustee duly executed by, the Holder thereof or his attorney duly
authorized in writing) and the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of such Security without service charge,
a new Registered Security or Securities of the same series, containing
identical terms and provisions, of any authorized denomination as requested by
such Holder in aggregate principal amount equal to and in exchange for the
unredeemed portion of the principal of the Security so surrendered.  If a Security in global form is so
surrendered, the Company shall execute, and the Trustee shall authenticate and
deliver to the Depository for such Security in global form as shall be
specified in the Company Order with respect thereto to the Trustee, without
service charge, a new Security in global form in a denomination equal to and in
exchange for the unredeemed portion of the principal of the Security in global
form so surrendered.

 

ARTICLE 12

SINKING
FUNDS

 

Section 1201.         Applicability of Article.  The provisions of this Article shall be
applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise permitted or required in or pursuant to this Indenture or
any Security of such series issued pursuant to this Indenture.

 

The minimum amount of any
sinking fund payment provided for by the terms of 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 Securities of such series is herein referred to as
an “optional sinking fund payment”.  If provided for by the terms of Securities of
any series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 1202. 
Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such
series and this Indenture.

 

Section 1202.         Satisfaction of Sinking Fund Payments with
Securities.  The Company may,
in satisfaction of all or any part of any sinking fund payment with respect to
the Securities of any series to be made pursuant to the terms of such
Securities (a) deliver Outstanding Securities of such series (other than
any of such Securities previously called for redemption or any of such
Securities in respect of which cash shall have been released to the Company),
together in the case of any Bearer Securities of such series with all unmatured
Coupons appertaining thereto, and (b) apply as a credit Securities of such
series which have been redeemed either at the election of the Company pursuant
to the terms of such series of Securities or through the application of
permitted optional sinking fund payments 

 

91

 

pursuant
to the terms of such Securities, provided that such Securities have not been
previously so credited.  Such Securities
shall be received and credited for such purpose by the Trustee at the
Redemption Price specified in such Securities for redemption through operation
of the sinking fund and the amount of such sinking fund payment shall be
reduced accordingly.  If as a result of
the delivery or credit of Securities of any series in lieu of cash payments
pursuant to this Section 1202, the principal amount of Securities of such
series to be redeemed in order to exhaust the aforesaid cash payment shall be
less than $100,000, the Trustee need not call Securities of such series for
redemption, except upon Company Request, and such cash payment shall be held by
the Trustee or a Paying Agent and applied to the next succeeding sinking fund
payment, provided, however, that the Trustee or such Paying Agent shall at the
request of the Company from time to time pay over and deliver to the Company
any cash payment so being held by the Trustee or such Paying Agent upon
delivery by the Company to the Trustee of Securities of that series purchased
by the Company having an unpaid principal amount equal to the cash payment
requested to be released to the Company.

 

Section 1203.         Redemption of Securities for Sinking Fund.  Not less than 75 days prior to each sinking
fund payment date for any series of Securities, the Company shall deliver to
the Trustee an Officers’ Certificate specifying the amount of the next ensuing
mandatory sinking fund payment for that series pursuant to the terms of that
series, the portion thereof, if any, which is to be satisfied by payment of
cash and the portion thereof, if any, which is to be satisfied by delivering
and crediting of Securities of that series pursuant to Section 1202, and
the optional amount, if any, to be added in cash to the next ensuing mandatory
sinking fund payment, and will also deliver to the Trustee any Securities to be
so credited and not theretofore delivered. 
If such Officers’ Certificate shall specify an optional amount to be
added in cash to the next ensuing mandatory sinking fund payment, the Company
shall thereupon be obligated to pay the amount therein specified.  Not less than 60 days before each such
sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 1103
and cause notice of the redemption thereof to be given in the name of and at
the expense of the Company in the manner provided in Section 1104.  Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1106 and 1107.

 

ARTICLE 13

REPAYMENT
AT THE OPTION OF HOLDERS

 

Section 1301.         Applicability of Article.  Securities of any series which are repayable
at the option of the Holders thereof before their Stated Maturity shall be
repaid in accordance with the terms of the Securities of such series. The 

 

92

 

repayment
of any principal amount of Securities pursuant to such option of the Holder to
require repayment of Securities before their Stated Maturity, for purposes of Section 309,
shall not operate as a payment, redemption or satisfaction of the indebtedness
represented by such Securities unless and until the Company, at its option,
shall deliver or surrender the same to the Trustee with a directive that such
Securities be cancelled. Notwithstanding anything to the contrary contained in
this Section 1301, in connection with any repayment of Securities, the
Company may arrange for the purchase of any Securities by an agreement with one
or more investment bankers or other purchasers to purchase such Securities by
paying to the Holders of such Securities on or before the applicable repayment
date an amount not less than the repayment price payable by the Company on
repayment of such Securities, and the obligation of the Company to pay the
repayment price of such Securities shall be satisfied and discharged to the
extent such payment is so paid by such purchasers.

 

Unless otherwise expressly
stated in this Indenture or pursuant to Section 301 with respect to the
Securities of any series or unless the context otherwise requires, all
references in this Indenture to the repayment of Securities at the option of
the Holders thereof (and all references of like import) shall be deemed to
include a reference to the repurchase or redemption of Securities at the option
of the Holders thereof.

 

ARTICLE 14

SECURITIES
IN FOREIGN CURRENCIES

 

Section 1401.         Applicability of Article.  Whenever this Indenture provides for (i) any
action by, or the determination of any of the rights of, Holders of Securities
of any series in which not all of such Securities are denominated in the same
Currency or (ii) any distribution to Holders of Securities of any series
in which not all of such Securities are denominated in the same Currency, in
the absence of any provision to the contrary in or pursuant to this Indenture
or the Securities of such series, any amount in respect of any Security
denominated in a Currency other than Dollars shall be treated for any such
action, determination or distribution as that amount of Dollars that could be
obtained for such amount on such reasonable basis of exchange and as of the
record date with respect to Registered Securities of such series (if any) for
such action, determination or distribution (or, if there shall be no applicable
record date, such other date reasonably proximate to the date of such
distribution) as the Company may specify in a written notice to the Trustee.

 

93

 

ARTICLE 15

MEETINGS OF HOLDERS OF SECURITIES

 

Section 1501.                          Purposes
For Which Meetings May Be Called.  Unless otherwise provided pursuant to Section 301
with respect to the Securities of any series, the provisions of this Article Fifteen
shall be applicable to a series of Securities if (and only if) the terms of
such Securities established pursuant to Section 301 provide that the
Securities of such series shall be issued or issuable, in whole or in part, as
Bearer Securities.  A meeting of Holders
of Securities of any series issued or issuable, in whole or in part, as Bearer
Securities may be called at any time and from time to time pursuant to this Article to
make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other Act provided by this Indenture to be made, given or
taken by Holders of Securities of such series.

 

Section 1502.                          Call,
Notice and Place of Meetings.  (a) The Trustee may at any time call a
meeting of Holders of Securities of any series issued or issuable, in whole or
in part, as Bearer Securities, for any purpose specified in Section 1501,
to be held at such time and at such place in the Borough of Manhattan, The City
of New York, or in London or in such place outside the United States as the
Company shall determine.  Notice of every
meeting of Holders of Securities of any such series, setting forth the time and
the place of such meeting and in general terms the action proposed to be taken
at such meeting, shall be given, in the manner provided in Section 106,
not less than 21 nor more than 180 days prior to the date fixed for the
meeting.

 

(b)                                 In case at any
time the Company (by or pursuant to a Board Resolution) or the Holders of at
least 331/3% in principal amount of the Outstanding Securities of any series
issued or issuable, in whole or in part, as Bearer Securities, shall have
requested the Trustee to call a meeting of the Holders of Securities of such
series for any purpose specified in Section 1501, by written request
setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee shall not have mailed notice of or made the first
publication of the notice of such meeting within 21 days after receipt of such
request (whichever shall be required pursuant to Section 106) or shall not
thereafter proceed to cause the meeting to be held as provided herein, then the
Company or the Holders of Securities of such series in the amount above
specified, as the case may be, may determine the time and the place in London
for such meeting and may call such meeting for such purposes by giving notice
thereof as provided in clause (a) of this Section.

 

Section 1503.                          Persons
Entitled to Vote at Meetings.  To be entitled to vote at any meeting of
Holders of Securities of any series, a Person shall be (a) a Holder of one
or more Outstanding Securities of such series, or (b) a Person appointed
by an instrument in writing as proxy for a Holder or Holders of one or 

 

94

 

more Outstanding Securities
of such series by such Holder or Holders. 
The only Persons who shall be entitled to be present or to speak at any
meeting of Holders of Securities of any series shall be the Persons entitled to
vote at such meeting and their counsel, any representatives of the Trustee and
its counsel and any representatives of the Company and its counsel.

 

Section 1504.                          Quorum;
Action.  The Persons entitled to vote a
majority in principal amount of the Outstanding Securities of a series shall
constitute a quorum for a meeting or duly reconvened meeting of Holders of
Securities of such series; provided, however, that if any action is to be taken
at such meeting with respect to any request, demand, authorization, direction,
notice, consent, waiver or other action which this Indenture expressly provides
may be given by the Holders of a greater percentage in principal amount of the
Outstanding Securities of a series, the Persons entitled to at least such
greater percentage in principal amount of the Outstanding Securities of such
series shall constitute a quorum.  In the
absence of a quorum within 30 minutes after the time appointed for any such
meeting, the meeting shall, if convened at the request of Holders of Securities
of such series, be dissolved.  In any
other case the meeting may be adjourned for a period of not less than 10 days
as determined by the chairman of the meeting prior to the adjournment of such
meeting.  In the absence of a quorum at
any such adjourned meeting, such adjourned meeting may be further adjourned for
a period of not less than 10 days as determined by the chairman of the meeting
prior to the adjournment of such adjourned meeting.  Notice of the reconvening of any adjourned
meeting shall be given as provided in Section 1502(a), except that such notice
need be given only once not less than five days prior to the date on which the
meeting is scheduled to be reconvened. 
Notice of the reconvening of an adjourned meeting shall state expressly
the percentage, as provided above, of the principal amount of the Outstanding
Securities of such series which shall constitute a quorum.

 

Except as limited by the proviso to Section 902,
any resolution presented to a meeting or adjourned meeting duly reconvened at
which a quorum is present as aforesaid may be adopted only by the affirmative
vote of the Holders of a majority in principal amount of the Outstanding
Securities of that series; provided, however, that, except as limited by the
proviso to Section 902, any resolution with respect to any request,
demand, authorization, direction, notice, consent,  waiver or other Act which this Indenture
expressly provides may be made, given or taken by the Holders of a specified
percentage, which is less than or more than a majority, in principal amount of
the Outstanding Securities of a series may be adopted at a meeting or an
adjourned meeting duly reconvened and at which a quorum is present as aforesaid
by the affirmative vote of the Holders of such specified percentage in
principal amount of the Outstanding Securities of such series.

 

95

 

Any resolution passed or decision taken at any
meeting of Holders of Securities of any series duly held in accordance with
this Section shall be binding on all the Holders of Securities of such
series and the Coupons appertaining thereto, whether or not such Holders were
present or represented at the meeting.

 

Section 1505.                          Determination
of Voting Rights; Conduct and Adjournment of Meetings.  (a) Notwithstanding any other provisions
of this Indenture, the Trustee may make such reasonable regulations as it may
deem advisable for any meeting of Holders of Securities of such series in
regard to proof of the holding of Securities of such series and of the
appointment of proxies and in regard to the appointment and duties of
inspectors of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters concerning the
conduct of the meeting as it shall deem appropriate.  Except as otherwise permitted or required by
any such regulations, the holding of Securities shall be proved in the manner
specified in Section 104 and the appointment of any proxy shall be proved
in the manner specified in Section 104 or by having the signature of the
person executing the proxy witnessed or guaranteed by any trust company, bank
or banker authorized by Section 104 to certify to the holding of Bearer
Securities.  Such regulations may provide
that written instruments appointing proxies, regular on their face, may be
presumed valid and genuine without the proof specified in Section 104 or
other proof.

 

(b)                                 The Trustee
shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders
of Securities as provided in Section 1502(b), in which case the Company or
the Holders of Securities of the series calling the meeting, as the case may
be, shall in like manner appoint a temporary chairman.  A permanent chairman and a permanent secretary
of the meeting shall be elected by vote of the Persons entitled to vote a
majority in principal amount of the Outstanding Securities of such series
represented at the meeting.

 

(c)                                  At any meeting,
each Holder of a Security of such series or proxy shall be entitled to one vote
for each $1,000 principal amount of Securities of such series held or
represented by him; provided, however, that no vote shall be cast or counted at
any meeting in respect of any Security challenged as not Outstanding and ruled
by the chairman of the meeting to be not Outstanding.  If the Securities of such series are issuable
in minimum denominations of less than $1,000, then a Holder of such a Security
in a principal amount of less than $1,000 shall be entitled to a fraction of
one vote which is equal to the fraction that the principal amount of such
Security bears to $1,000.  The chairman
of the meeting shall have no right to vote, except as a Holder of a Security of
such series or proxy.

 

(d)                                 Any meeting of
Holders of Securities of any series duly called pursuant to Section 1502
at which a quorum is present may be adjourned from 

 

96

 

time to time by Persons
entitled to vote a majority in principal amount of the Outstanding Securities
of such series represented at the meeting; and the meeting may be held as so
adjourned without further notice.

 

Section 1506.                          Counting
Votes and Recording Action of Meetings.  The vote upon any resolution submitted to any
meeting of Holders of Securities of any series shall be by written ballots on
which shall be subscribed the signatures of the Holders of Securities of such
series or of their representatives by proxy and the principal amounts and
serial numbers of the Outstanding Securities of such series held or represented
by them.  The permanent chairman of the
meeting shall appoint two inspectors of votes who shall count all votes cast at
the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports in triplicate of all
votes cast at the meeting.  A record, at
least in triplicate, of the proceedings of each meeting of Holders of
Securities of any series shall be prepared by the secretary of the meeting and
there shall be attached to said record the original reports of the inspectors
of votes on any vote by ballot taken thereat and affidavits by one or more
persons having knowledge of the facts setting forth a copy of the notice of the
meeting and showing that said notice was given as provided in Section 1502
and, if applicable, Section 1504. 
Each copy shall be signed and verified by the affidavits of the
permanent chairman and secretary of the meeting and one such copy shall be
delivered to the Company, and another to the Trustee to be preserved by the
Trustee, the latter to have attached thereto the ballots voted at the
meeting.  Any record so signed and
verified shall be conclusive evidence of the matters therein stated.

 

ARTICLE 16

GUARANTEES

 

Section 1601.                          Guarantees.  The Securities of each series and all other
payment obligations of the Company hereunder shall be guaranteed by such
Guarantors, and on such terms and subject to such conditions, as shall be
established pursuant to Section 301 with respect to the Securities of such
series and generally hereunder.  The
Persons who shall initially be the Guarantors of the Securities of any series
may, but need not, include any or all of the Initial Guarantors and may include
any and all such other Persons as the Company may determine; provided that
prior to the initial issuance of Securities that are to be guaranteed by a
Person that is not an Initial Guarantor (or, if provided by the terms of this
Indenture, a successor to an Initial Guarantor), the parties hereto and such
Person shall enter into a supplemental indenture pursuant to Section 901
hereof whereby such Person shall become a Guarantor under this Indenture.

 

Anything in this Indenture, the Securities or any
Guarantee to the contrary notwithstanding, the obligations of each Guarantor
under its Guarantees and this 

 

97

 

Indenture shall be limited
to the maximum amount as will, after giving effect to all other contingent and
fixed liabilities of such Guarantor, result in the obligations of such
Guarantor under its Guarantees and this Indenture not constituting a fraudulent
advance or fraudulent transfer under any Bankruptcy Law, the Uniform Fraudulent
Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal, state
or other law affecting the rights of creditors generally.

 

No Guarantee shall be valid and obligatory for any
purpose with respect to any Security until the certificate of authentication on
such Security shall have been signed by or on behalf of the Trustee.

 

ARTICLE 17

SECURITY

 

Section 1701.                          Security.  If so provided pursuant to Section 301
with respect to the Securities of any series, the Securities of such series
and/or the Guarantees of such Securities may be secured by such property,
assets or other collateral as may be specified in or pursuant to Section 301.  Any and all terms and provisions applicable
to the security for the Securities of such series and/or such Guarantees shall
also be provided in or pursuant to Section 301, which may include, without
limitation, provisions for the execution and delivery of such security
agreements, pledge agreements, collateral agreements and other similar or
related agreements as the Company or any Guarantor may elect and which may
provide for the Trustee to act as collateral agent or in a similar or other
capacity.  The Trustee shall comply with
Sections 313(a)(5) and (6) and 313(b)(1) of the Trust Indenture
Act and the Company and, if applicable, any Guarantor that has pledged
collateral to secure its Guarantee shall comply with Sections 314(b), 314(c) and
314(d) of the Trust Indenture Act, in each case in respect of any secured
Securities and/or Guarantees that may be outstanding hereunder from time to
time.

 

*     *     *     *     *

 

This instrument may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same
instrument.

 

98

 

IN WITNESS WHEREOF, the parties hereto have caused
this Indenture to be duly executed, all as of the day and year first above written.

 

	
   

  	
  SEALY MATTRESS COMPANY,
  as Issuer

  
	
   

  	
  By:

  	
  *

  
	
   

  	
   

  	
  Name:

  	
  Jeffrey C. Ackerman

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President & Chief Financial
  Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Guarantors

  
	
   

  	
  SEALY CORPORATION

  
	
   

  	
  ADVANCED SLEEP PRODUCTS

  
	
   

  	
  WESTERN MATTRESS
  COMPANY

  
	
   

  	
  SEALY COMPONENTS-PADS,
  INC.

  
	
   

  	
  THE OHIO MATTRESS
  COMPANY LICENSING AND COMPONENTS GROUP

  
	
   

  	
  SEALY MATTRESS
  MANUFACTURING COMPANY, INC.

  
	
   

  	
  SEALY MATTRESS
  CORPORATION

  
	
   

  	
  SEALY-KOREA, INC.

  
	
   

  	
  OHIO-SEALY MATTRESS
  MANUFACTURING CO.

  
	
   

  	
  SEALY MATTRESS COMPANY
  OF ILLINOIS

  
	
   

  	
  A. BRANDWEIN &
  CO.

  
	
   

  	
  SEALY OF MARYLAND AND
  VIRGINIA, INC.

  
	
   

  	
  OHIO-SEALY MATTRESS
  MANUFACTURING CO. INC.

  
	
   

  	
  MATTRESS HOLDINGS
  INTERNATIONAL, LLC

  
	
   

  	
  SEALY MATTRESS COMPANY
  OF MICHIGAN, INC.

  
	
   

  	
  SEALY OF MINNESOTA,
  INC.

  
	
   

  	
  SEALY MATTRESS COMPANY
  OF KANSAS CITY, INC.

  
	
   

  	
  SEALY MATTRESS COMPANY
  OF ALBANY, INC.

  
	
   

  	
  SEALY TECHNOLOGY LLC

  
	
   

  	
  SEALY REAL ESTATE, INC.

  
	
   

  	
  NORTH AMERICAN BEDDING
  COMPANY

  
	
   

  	
  SEALY, INC.

  
	
   

  	
  SEALY MATTRESS COMPANY OF
  PUERTO RICO

  
	
   

  	
  SEALY MATTRESS COMPANY
  OF MEMPHIS

  
	
   

  	
  SEALY TEXAS MANAGEMENT,
  INC.

  
	
   

  	
  SEALY MATTRESS
  CO. OF S.W. VIRGINIA

  
	
   

  	
   

  
	
   

  	
  By:

  	
  *

  
	
   

  	
   

  	
  Name:

  	
  Jeffrey C. Ackerman

  
	
   

  	
   

  	
  Title:

  	
  Vice President & Chief Financial Officer

  
							

 

* The signature appearing immediately below shall
serve as a signature at each place indicated with an “*” on this page:

 

	
   

  	
  By:

  	
  /s/ Jeffrey C. Ackerman

  
	
   

  	
   

  	
  Jeffrey C. Ackerman

  
				

 

 

	
   

  	
  THE BANK OF NEW YORK
  MELLON TRUST COMPANY, N.A.

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christie
  Leppert

  
	
   

  	
   

  	
  Name: Christie
  Leppert

  
	
   

  	
   

  	
  Title: Assistant
  Vice President

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