Document:

EXHIBIT
10.3

 

FIRST
AMENDMENT TO THE

THE
FEDERAL HOME LOAN BANK OF BOSTON

THRIFT BENEFIT EQUALIZATION PLAN

(Effective January 1, 2009)

 

WHEREAS,  the Federal
Home Loan Bank of Boston (the “Bank”) has adopted and currently maintains the
Federal Home Loan Bank of Boston Thrift Benefit Equalization Plan (the “Thrift
BEP”), effective January 1, 2009; and

 

WHEREAS, Section 8.11 of the Thrift BEP reserves to
the Board of Directors of the Bank the right to amend the Thrift BEP from time
to time, in whole or in part; and

 

WHEREAS, the Bank desires to amend the Thrift
BEP to (i) specify the qualifications of any entity who may serve as the
trustee of any rabbi trust established to fund and pay benefits under the
Thrift BEP, (ii) require periodic funding of such rabbi trust, and (iii) provide
that a Participant or Beneficiary may recover legal fees if he or she is
required to bring a lawsuit to recover benefits from the Thrift BEP.

 

NOW, THEREFORE,  the Thrift BEP
is amended as set forth below, effective September 1, 2009:

 

1.                                     The following sentence is added to the
end of Section 7.4:

 

If a Participant or
Beneficiary prevails in a lawsuit to recover benefits under the Plan, the Bank
shall pay to the Participant or Beneficiary the reasonable attorneys’ fees and
costs incurred by such Participant or Beneficiary in prosecuting such
lawsuit.  However, a Participant or
Beneficiary shall not be liable for attorney fees or costs incurred by the
Bank, the Plan or the Committee in successfully defending a lawsuit brought by
such Participant or Beneficiary to recover benefits under the Plan, unless a
court has finally determined that the Participant or Beneficiary acted in bad
faith or that the lawsuit was frivolous.

 

2.                                     The following new Section 8.13 is
added to the Thrift BEP, and reads as follows:

 

8.13         Trust Provisions.  The trustee of any trust established for
the funding and payment of benefits under the Plan shall be a national bank or
trust company, be duly authorized to conduct trust business, be organized under
the 

 

 

laws of the United States
or any of the 50 states thereof, and be independent of and not subject to
control of the Bank or any Participant of the Plan.

 

The Bank shall
contribute at least quarterly to such trust or fund the amount, if any, by
which the then aggregate balance of the Accounts of all Participants and
Beneficiaries in the Plan exceeds the fair market value of the assets in such
trust or fund.  This provision
will survive any amendment or termination of the Plan until all accrued
benefits have been paid.

 

IN WITNESS WHEREOF, the undersigned hereby certifies that the foregoing
amendment was duly adopted at a meeting of the Board of Directors of the Bank
on September 18, 2009.

 

Executed
this 30th day of October, 2009.

 

	
   

  	
  FEDERAL
  HOME LOAN BANK OF BOSTON

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ellen McLaughlin

  
	
   

  	
   

  	
  Senior Vice President and General CounselExhibit 4.2

 

Toreador Resources Corporation

 

 

INDENTURE

 

Dated as of
              ,
20    

 

Senior Debt Securities

 

 

                                          ,

 

Trustee

 

 

 

 

CROSS-REFERENCE TABLE*

 

	
  Trust Indenture

  Act Section

  	
   

  	
  Indenture Section

  
	
  310

  	
  (a)(1)

  	
   

  	
  7.10

  
	
   

  	
  (a)(2)

  	
   

  	
  7.10

  
	
   

  	
  (a)(3)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(4)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(5)

  	
   

  	
  7.10

  
	
   

  	
  (b)

  	
   

  	
  7.10

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  
	
  311

  	
  (a)

  	
   

  	
  7.11

  
	
   

  	
  (b)

  	
   

  	
  7.11

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  
	
  312

  	
  (a)

  	
   

  	
  2.06

  
	
   

  	
  (b)

  	
   

  	
  11.03

  
	
   

  	
  (c)

  	
   

  	
  11.03

  
	
  313

  	
  (a)

  	
   

  	
  2.06, 7.06

  
	
   

  	
  (b)(2)

  	
   

  	
  7.06; 7.07

  
	
   

  	
  (c)

  	
   

  	
  4.03, 7.06; 11.02

  
	
   

  	
  (d)

  	
   

  	
  7.06

  
	
  314

  	
  (a)

  	
   

  	
  4.03

  
	
   

  	
  (a)(4)

  	
   

  	
  11.05

  
	
   

  	
  (c)(1)

  	
   

  	
  N.A.

  
	
   

  	
  (c)(2)

  	
   

  	
  N.A.

  
	
   

  	
  (c)(3)

  	
   

  	
  N.A.

  
	
   

  	
  (e)

  	
   

  	
  12.05

  
	
   

  	
  (f)

  	
   

  	
  N.A.

  
	
  315

  	
  (a)

  	
   

  	
  2.03

  
	
   

  	
  (b)

  	
   

  	
  2.03

  
	
   

  	
  (c)

  	
   

  	
  2.03

  
	
   

  	
  (d)

  	
   

  	
  2.03

  
	
   

  	
  (e)

  	
   

  	
  N.A.

  
	
  316

  	
  (a) (last sentence)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(1)(A)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(1)(B)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(2)

  	
   

  	
  N.A.

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  
	
   

  	
  (c)

  	
   

  	
  11.16

  
	
  317

  	
  (a)(1)

  	
   

  	
  N.A.

  
	
   

  	
  (a)(2)

  	
   

  	
  N.A.

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  
	
  318

  	
  (a)

  	
   

  	
  N.A.

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  
	
   

  	
  (c)

  	
   

  	
  11.01

  

 

N.A.
means not applicable.

 

*  This Cross Reference Table is not part of
this Indenture.

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
  ARTICLE 1
  DEFINITIONS AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Other Definitions

  	
  8

  
	
  Section 1.03

  	
  Incorporation by Reference of Trust Indenture Act

  	
  8

  
	
  Section 1.04

  	
  Rules of Construction

  	
  8

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2 THE SECURITIES

  	
  9

  
	
  Section 2.01

  	
  Form, Dating and Denominations

  	
  9

  
	
  Section 2.02

  	
  Amount Unlimited; Issuable in Series

  	
  10

  
	
  Section 2.03

  	
  Execution and Authentication

  	
  13

  
	
  Section 2.04

  	
  Registrar and Paying Agent

  	
  14

  
	
  Section 2.05

  	
  Paying Agent to Hold Money in Trust

  	
  15

  
	
  Section 2.06

  	
  Holder Lists

  	
  15

  
	
  Section 2.07

  	
  Transfer and Exchange

  	
  15

  
	
  Section 2.08

  	
  Replacement Securities

  	
  20

  
	
  Section 2.09

  	
  Outstanding Securities

  	
  20

  
	
  Section 2.10

  	
  Treasury Securities

  	
  21

  
	
  Section 2.11

  	
  Temporary Securities

  	
  22

  
	
  Section 2.12

  	
  Cancellation

  	
  22

  
	
  Section 2.13

  	
  Defaulted Interest

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3 REDEMPTION AND PREPAYMENT

  	
  23

  
	
  Section 3.01

  	
  Applicability of Article

  	
  23

  
	
  Section 3.02

  	
  Notices to Trustee

  	
  23

  
	
  Section 3.03

  	
  Selection of Securities to Be Redeemed

  	
  23

  
	
  Section 3.04

  	
  Notice of Redemption

  	
  24

  
	
  Section 3.05

  	
  Effect of Notice of Redemption

  	
  25

  
	
  Section 3.06

  	
  Deposit of Redemption or Purchase Price

  	
  25

  
	
  Section 3.07

  	
  Securities Redeemed or Purchased in Part

  	
  26

  
	
  Section 3.08

  	
  Conversion Arrangement on Call for Redemption

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4 COVENANTS

  	
  27

  
	
  Section 4.01

  	
  Payment of Securities

  	
  27

  
	
  Section 4.02

  	
  Maintenance of Office or Agency

  	
  27

  
	
  Section 4.03

  	
  Reports

  	
  28

  
	
  Section 4.04

  	
  Compliance Certificate

  	
  28

  
	
  Section 4.05

  	
  Additional Amounts

  	
  28

  
	
  Section 4.06

  	
  Corporate Existence

  	
  29

  

 

i

 

	
  ARTICLE 5
  SUCCESSORS

  	
  29

  
	
  Section 5.01

  	
  Merger, Consolidation, or Sale of Assets

  	
  29

  
	
  Section 5.02

  	
  Successor Substituted

  	
  30

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6 DEFAULTS AND REMEDIES

  	
  31

  
	
  Section 6.01

  	
  Events of Default

  	
  31

  
	
  Section 6.02

  	
  Acceleration

  	
  32

  
	
  Section 6.03

  	
  Other Remedies

  	
  32

  
	
  Section 6.04

  	
  Waiver of Past Defaults

  	
  33

  
	
  Section 6.05

  	
  Control by Majority

  	
  33

  
	
  Section 6.06

  	
  Limitation on Suits

  	
  33

  
	
  Section 6.07

  	
  Rights of Holders of Securities to Receive Payment

  	
  34

  
	
  Section 6.08

  	
  Collection Suit by Trustee

  	
  34

  
	
  Section 6.09

  	
  Trustee May File Proofs of Claim

  	
  34

  
	
  Section 6.10

  	
  Priorities

  	
  35

  
	
  Section 6.11

  	
  Undertaking for Costs

  	
  35

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7 TRUSTEE

  	
  36

  
	
  Section 7.01

  	
  Duties of Trustee

  	
  36

  
	
  Section 7.02

  	
  Rights of Trustee

  	
  37

  
	
  Section 7.03

  	
  Individual Rights of Trustee

  	
  37

  
	
  Section 7.04

  	
  Trustee’s Disclaimer

  	
  38

  
	
  Section 7.05

  	
  Notice of Defaults

  	
  38

  
	
  Section 7.06

  	
  Reports by Trustee to Holders of the Securities

  	
  38

  
	
  Section 7.07

  	
  Compensation and Indemnity

  	
  38

  
	
  Section 7.08

  	
  Replacement of Trustee

  	
  39

  
	
  Section 7.09

  	
  Successor Trustee by Merger, etc.

  	
  41

  
	
  Section 7.10

  	
  Eligibility; Disqualification

  	
  41

  
	
  Section 7.11

  	
  Preferential Collection of Claims Against the
  Company

  	
  42

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE

  	
  42

  
	
  Section 8.01

  	
  Applicability of Article; Option to Effect Legal
  Defeasance or Covenant Defeasance

  	
  42

  
	
  Section 8.02

  	
  Legal Defeasance and Discharge

  	
  42

  
	
  Section 8.03

  	
  Covenant Defeasance

  	
  43

  
	
  Section 8.04

  	
  Conditions to Legal or Covenant Defeasance

  	
  43

  
	
  Section 8.05

  	
  Deposited Money and Government Securities to be Held
  in Trust; Other Miscellaneous Provisions

  	
  45

  
	
  Section 8.06

  	
  Repayment to the Company

  	
  45

  
	
  Section 8.07

  	
  Reinstatement

  	
  46

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER

  	
  47

  
	
  Section 9.01

  	
  Without Consent of Holders of Securities

  	
  47

  
	
  Section 9.02

  	
  With Consent of Holders of Securities

  	
  48

  

 

ii

 

	
  Section 9.03

  	
  Compliance with Trust Indenture Act

  	
  50

  
	
  Section 9.04

  	
  Revocation and Effect of Consents

  	
  50

  
	
  Section 9.05

  	
  Notation on or Exchange of Securities

  	
  50

  
	
  Section 9.06

  	
  Trustee to Sign Amendments, etc.

  	
  50

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10 SATISFACTION AND DISCHARGE

  	
  51

  
	
  Section 10.01

  	
  Satisfaction and Discharge

  	
  51

  
	
  Section 10.02

  	
  Application of Trust Money

  	
  52

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11 MISCELLANEOUS

  	
  52

  
	
  Section 11.01

  	
  Trust Indenture Act Controls

  	
  52

  
	
  Section 11.02

  	
  Notices

  	
  52

  
	
  Section 11.03

  	
  Communication by Holders of Securities with Other
  Holders of Securities

  	
  54

  
	
  Section 11.04

  	
  Certificate and Opinion as to Conditions Precedent

  	
  54

  
	
  Section 11.05

  	
  Statements Required in Certificate or Opinion

  	
  54

  
	
  Section 11.06

  	
  Rules by Trustee and Agents

  	
  55

  
	
  Section 11.07

  	
  No Personal Liability of Directors, Officers,
  Employees and Stockholders

  	
  55

  
	
  Section 11.08

  	
  Governing Law

  	
  55

  
	
  Section 11.09

  	
  No Adverse Interpretation of Other Agreements

  	
  55

  
	
  Section 11.10

  	
  Successors

  	
  55

  
	
  Section 11.11

  	
  Severability

  	
  55

  
	
  Section 11.12

  	
  Counterpart Originals

  	
  55

  
	
  Section 11.13

  	
  Table of Contents, Headings, etc.

  	
  56

  
	
  Section 11.14

  	
  Benefits of Indenture

  	
  56

  
	
  Section 11.15

  	
  Legal Holidays

  	
  56

  
	
  Section 11.16

  	
  Acts of Holders

  	
  56

  

 

iii

 

INDENTURE, dated as of
              ,
20    , between Toreador Resources Corporation, a Delaware
corporation, and
                                          ,
as trustee (the “Trustee”).

 

The Company, as sole issuer, deems it necessary to
issue from time to time for its lawful purposes senior debt securities (the “Securities”)
evidencing its unsecured and unsubordinated indebtedness, and has duly
authorized the execution and delivery of this Indenture to provide for the
issuance from time to time of the Securities, unlimited as to principal amount,
to bear interest at such rate or pursuant to such formula, to mature at such
times and to have such other provisions as shall be fixed as hereinafter
provided.

 

For and in consideration of the premises and the
purchase of the Securities by the Holders thereof, it is mutually covenanted
and agreed, for the equal and proportionate benefit of all Holders of the
Securities, as follows:

 

ARTICLE  1

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01         Definitions.

 

“Additional Amounts” means, when used with respect to a
Security of a series issued with the benefits provided by Section 4.05, as
specified as contemplated by Section 2.02, all additional interest then
owing pursuant to said Section 4.05 and the Board Resolution or indenture
supplemental hereto under which such Security shall be issued.

 

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

 

“Agent” means
any Registrar, co-registrar, Paying Agent or additional paying agent.

 

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

 

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

 

 

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

 

“Board of Directors”
means:

 

(1)           with
respect to a corporation, the Board of Directors of the corporation;

 

(2)           with
respect to a partnership, the Board of Directors of the general partner of the
partnership or the board or committee of the general partner of the partnership
serving a similar function; and

 

(3)           with
respect to any other Person, the board or committee of such Person serving a
similar function.

 

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

 

“Business Day”
means, when used with respect to any Place of Payment or any other particular
location referred to in this Indenture or in the Securities, unless otherwise
specified with respect to any Securities as contemplated by Section 2.02,
any day, other than a Saturday or Sunday, that is neither a legal holiday nor a
day on which banking institutions in that Place of Payment or particular
location are authorized or required by law, regulation or executive order to
close.

 

“Capital Stock”
means, with respect to any entity, any capital stock (including preferred
stock), shares, interests, participation or other ownership interests (however
designated) of such entity and any rights (other than debt securities
convertible into or exchangeable for capital stock), warrants or options to
purchase any thereof; provided, however, that leases of real property that
provide for contingent rent based on the financial performance of the tenant
shall not be deemed to be Capital Stock.

 

“Capitalized Lease
Obligation” means, at the time any determination is to be made, the
amount of the liability in respect of a capital lease that would at that time
be required to be capitalized on a balance sheet in accordance with GAAP.

 

“Clearstream”
means Clearstream Banking, S.A., or its successor.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common Stock”
means the common stock, par value $0.15625 per share, of the Company.

 

“Company” means,
when used with respect to Securities of any series, Toreador Resources
Corporation, a Delaware corporation, and all respective successors thereto.

 

2

 

“Corporate Trust Office of
the Trustee” will be at the address of the Trustee specified in Section 12.02
hereof or such other address as to which the Trustee may give notice to the
Company.

 

“Custodian”
means the Trustee, as custodian with respect to the Securities in global form,
or any successor entity thereto.

 

“Debt” of the
Company or any of its Subsidiaries means, without duplication, any indebtedness
of the Company or any Subsidiary of the Company, whether or not contingent, in
respect of:

 

(1)           borrowed
money or evidenced by bonds, notes, debentures or similar instruments;

 

(2)           indebtedness
for borrowed money secured by any encumbrance existing on property owned by the
Company or its Subsidiaries, to the extent of the lesser of (x) the
amount of indebtedness so secured or (y) the Fair Market Value of
the property subject to such encumbrance;

 

(3)           the
reimbursement obligations in connection with any letters of credit actually
drawn or amounts representing the balance deferred and unpaid of the purchase
price of any property or services, except any such balance that constitutes an
accrued expense, trade payable, conditional sale obligations or obligations
under any title retention agreement;

 

(4)           the
principal amount of all obligations of the Company and its Subsidiaries with
respect to redemption, repayment or other repurchase of any Disqualified Stock;

 

(5)           any
lease of property by the Company or any of its Subsidiaries as lessee which is
reflected on the Company’s or such Subsidiaries’ consolidated balance sheet as
a Capitalized Lease Obligation, to the extent, in the case of items of
indebtedness under clauses (1) through (5) above, that any such items
would appear as a liability on the Company’s or such Subsidiaries’ consolidated
balance sheet in accordance with GAAP; or

 

(6)           the
liquidation preference of any Disqualified Stock of the Company or of any
shares of preferred stock of any of its Subsidiaries.

 

Debt also includes, to the extent not otherwise
included, any obligation by the Company and its Subsidiaries to be liable for,
or to pay, as obligor, guarantor or otherwise (other than for purposes of
collection in the ordinary course of business), Debt of another Person (other
than the Company or any of its Subsidiaries); it being understood that Debt
shall be deemed to be incurred by the Company or any of its Subsidiaries
whenever the Company or such Subsidiary shall create, assume, guarantee or
otherwise become liable in respect thereof.

 

Debt shall not include (a) Debt arising
from agreements of the Company or any of its Subsidiaries providing for
indemnification, adjustment or holdback of purchase price or 

 

3

 

similar obligations, in each case, incurred or assumed
in connection with the acquisition or disposition of any business, assets or a
Subsidiary, other than guarantees of Debt incurred by any Person acquiring all
or any portion of such business, assets or Subsidiary for the purpose of
financing such acquisition or (b) contingent obligations under
performance bonds, performance guarantees, surety bonds, appeal bonds or
similar obligations incurred in the ordinary course of business and consistent
with past practices.  In the case of Debt
as of any date issued with original issue discount, the amount of such Debt
shall be the accreted value thereof as of such date.

 

“Default” means
any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default.

 

“Definitive Security”
means a certificated Security registered in the name of the Holder thereof and
issued in accordance with Section 2.07, substantially in the form
established in one or more indentures supplemental hereto or pursuant to Board
Resolutions in accordance with Section 2.02 except that such Security
shall not bear the Global Security Legend and shall not have any related
schedule of exchanges of interests in the global security attached thereto.

 

“Depositary”
means, with respect to the Securities issuable or issued in whole or in part in
global form, the Person specified in Section 2.04 hereof as the Depositary
with respect to the Securities, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Indenture.

 

“Disqualified Stock”,
when used with respect to Securities of any series, shall have the meaning
given to such term in the Board Resolution or indenture supplemental hereto
pursuant to which the Securities of that series shall be issued.

 

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

 

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

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

“Fair Market Value”
means, with respect to any asset, the price (after taking into account any
liabilities relating to such assets) which could be negotiated in an
arm’s-length free market transaction between a willing seller and a willing
buyer, neither of which is under pressure or compulsion to complete the
transaction. Fair Market Value shall be determined by the Board of Directors of
the Company in good faith.

 

“Foreign Currency”
means any currency, currency unit or composite currency 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” means
generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of
Certified 

 

4

 

Public Accountants and statements and pronouncements
of the Financial Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the accounting
profession, which are in effect on the date of determination.

 

“Global Security”
means a permanent global Security substantially in the form of established by
one or more indentures supplemental hereto or pursuant to Board Resolutions in
accordance with Section 2.02 that bears the Global Security Legend and
that has a schedule of exchanges of interests in the Global Security attached
thereto, and that is deposited with or on behalf of and registered in the name
of the Depositary.

 

“Global Security Legend”
means the legend set forth in Section 2.07(f), which is required to be
placed on all Global Securities issued under this Indenture.

 

“Government Obligations”
means securities which are (1) direct obligations of the United
States of America or the government which issued the Foreign Currency in which
the Securities of a particular series are payable, for the payment of which its
full faith and credit is pledged or (2) obligations of a Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America or such government which issued the Foreign Currency
in which the Securities of that series are payable, the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States of America or such other government, which, in either case, are not
callable or redeemable at the option of the issuer 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 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 the Government Obligation
evidenced by such depository receipt.

 

“Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection
in the ordinary course of business, direct or indirect, in any manner
including, without limitation, by way of a pledge of assets or through letters
of credit or reimbursement agreements in respect thereof, of all or any part of
any Debt.

 

“Holder” means a
Person in whose name a Security is registered.

 

“incur” means
issue, create, assume, guarantee, incur or otherwise become liable for. Neither
the accrual of interest nor the accretion of original issue discount shall be
deemed to be an incurrence of Debt. The term “incurrence” when used as a noun
shall have a correlative meaning.

 

“Indenture”
means this Indenture, as amended or supplemented from time to time by one or
more indentures supplemental hereto entered into pursuant to the applicable
provisions hereof, and shall include the terms of particular series of
Securities established as contemplated by Section 2.02; 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 

 

5

 

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 the or those particular series of Securities for which such Person is
Trustee established as contemplated by Section 2.02, exclusive, however,
of any provisions or terms which relate solely to other series of Securities
for which such Person is Trustee, regardless of when such terms or provisions
were adopted, and exclusive of any provisions or terms adopted by means of one
or more indentures supplemental hereto executed and delivered after such Person
had become such Trustee but to which such Person, as such Trustee, was not a
party.

 

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

 

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

 

“interest”
means, when used with respect to an Original Issue Discount Security which by
its terms bears interest only after maturity, interest payable after maturity,
and, when used with respect to a Security which provides for the payment of
Additional Amounts, includes such Additional Amounts.

 

“Interest Payment Date”
has the meaning set forth in the Securities.

 

“Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such asset, whether or not
filed, recorded or otherwise perfected under applicable law, including any
conditional sale or other title retention agreement, any lease in the nature
thereof, any option or other agreement to sell or give a security interest in
and any filing of or agreement to give any financing statement under the
Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

 

“Officer” means,
with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial
Officer, the Chief Investment Officer, the Treasurer, any Assistant Treasurer,
the Controller, the Secretary or any Vice-President of such Person.

 

“Officers’ Certificate”
means a certificate signed on behalf of the Company by two Officers of the
Company, one of whom must be the principal executive officer, the principal
financial officer, the principal investment officer, the treasurer or the
principal accounting officer of the Company, that meets the requirements of Section 2.03,
8.04 or 12.05, as applicable.

 

“Opinion of Counsel”
means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 2.03, 8.04 or 12.05, as
applicable.  The counsel may be an
employee of or counsel to the Company, any Subsidiary of the Company or the
Trustee.

 

6

 

“Original Issue Discount
Security” means any security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.02.

 

“Outstanding”,
when used with respect to Securities of a series, shall have the meaning
ascribed thereto in Section 2.09.

 

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

 

“Person” means
any individual, corporation, partnership, joint venture, real estate investment
trust, association, joint-stock company, trust, unincorporated organization,
limited liability company or government or other entity.

 

“Place of Payment”
means, when used with respect to the Securities of or within any series, the
place or places where the principal of (and premium, if any) and interest on
such Securities are payable as specified as contemplated by Section 2.02.

 

“Record Date”
has the meaning set forth in the Securities.

 

“Responsible Officer,”
when used with respect to the Trustee, means any officer within the Corporate
Trust Administration of the Trustee (or any successor group of the Trustee) or
any other officer of the Trustee customarily performing functions similar to
those performed by any of the above designated officers and also means, with
respect to a particular corporate trust matter, any other officer to whom such
matter is referred because of his knowledge of and familiarity with the
particular subject.

 

“Securities Act”
means the Securities Act of 1933, as amended.

 

“Security” has
the meaning stated in the preamble to this Indenture and, more particularly, means
any Security or Securities 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 this Indenture as to which such Person is Trustee shall have
the meaning stated in the preamble to this Indenture and shall more
particularly mean Securities authenticated and delivered under this Indenture,
exclusive, however, of Securities of any series as to which such Person is not
Trustee.

 

“Significant Subsidiary”
means any Subsidiary that would be a “significant subsidiary” as defined in Article 1,
Rule 1-02(w) of Regulation S-X, promulgated pursuant to the
Securities Act, as such Regulation is in effect on the date of this Indenture.

 

“Subsidiary”
means, for any Person, any corporation or other entity of which a majority of
the Voting Stock is owned, directly or indirectly, by such Person or one or
more other Subsidiaries of such Person.

 

“TIA” means the
Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as amended, as in
effect on the date on which this Indenture is qualified under the TIA.

 

7

 

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

 

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

 

Section 1.02         Other Definitions.

 

	
  Term

  	
   

  	
  Defined in

  Section

  	
   

  
	
  “Authentication
  Order”

  	
   

  	
  2.03

  	
   

  
	
  “Covenant
  Defeasance”

  	
   

  	
  8.03

  	
   

  
	
  “DTC”

  	
   

  	
  2.04

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.01

  	
   

  
	
  “Legal Defeasance”

  	
   

  	
  8.02

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.04

  	
   

  
	
  “Registrar”

  	
   

  	
  2.04

  	
   

  

 

Section 1.03         Incorporation by Reference of Trust
Indenture Act.

 

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

 

The following TIA terms used in this Indenture have
the following meanings:

 

“indenture
securities” means the Securities;

 

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

 

“indenture to be
qualified” means this Indenture;

 

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

 

“obligor”
on the Securities means the Company and any successor obligor upon the
Securities.

 

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

 

Section 1.04         Rules of Construction.

 

Unless the context otherwise requires:

 

8

 

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

 

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

 

(3)           “or” is not exclusive;

 

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

 

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

 

(6)           provisions apply to successive events
and transactions; and

 

(7)           references to sections of or rules under
the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the Commission from time to time.

 

ARTICLE  2

 

THE SECURITIES

 

Section 2.01         Form, Dating and Denominations.

 

(a)           General.  The Securities of each series will be
substantially in such forms as shall be established in one or more indentures
supplemental hereto or approved from time to time by or pursuant to Board
Resolutions in accordance with Section 2.02, shall have such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture or any indenture supplemental hereto, and may have
such letters, numbers or other marks of identification or designation and such
legends or endorsements placed thereon as the Company may deem appropriate and
as are not inconsistent with the provisions of this Indenture, or as may be
required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any stock exchange on
which the Securities may be listed, or to conform to usage.  Each Security will be dated the date of its
authentication.  Except as specified as
contemplated by Section 2.02 in respect of Securities of any series, the
Securities shall be in denominations of $1,000 and integral multiples thereof.

 

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

 

(b)           Form of Trustee’s Certificate of Authentication.  Subject to Section 2.03, the Trustee’s
certificate of authentication shall be in substantially the following form:

 

9

 

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

 

________________________,

as Trustee

 

 

	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

(c)           Global Securities.  If Securities of or within a series are
issued in global form, as specified as contemplated by Section 2.02, then,
notwithstanding the provisions of paragraph (a) of this Section 2.01
and clause (9) of Section 2.02, any such Security shall represent
such of the Outstanding Securities of that series as shall be specified therein
and shall include the Global Securities Legend and a related schedule of
exchanges of interests in the Global Securities attached thereto.  Securities issued in definitive form will not
include such legend or schedule.  Each
Global Security may provide that it shall represent the Outstanding Securities
as will be specified therein and each shall provide that it represents the
aggregate principal amount of Outstanding Securities from time to time endorsed
thereon and that the aggregate principal amount of Outstanding Securities
represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges and redemptions.  Any endorsement of a Global Security to
reflect the amount of any increase or decrease in the aggregate principal
amount of Outstanding Securities represented thereby will be made by the
Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as required by Section 2.07 hereof.

 

Section 2.02         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.  There shall be established in
one or more Board Resolutions or pursuant to authority granted by one or more
Board Resolutions and, subject to Section 2.03, set forth, or determined
in the manner provided, in an Officers’ Certificate, or established in one or
more indentures supplemental hereto, prior to the issuance of Securities of any
series, any or all of the following, as applicable (each of which (except for
the matters set forth in clauses (1), (2), (3) and (14) below), if so
provided, may be determined from time to time by the Company with respect to
unissued Securities of the series when issued from time to time):

 

(1)           the identity of the issuer;

 

(2)           the title of the Securities of the
series (which shall distinguish the Securities of that series from all other
series of Securities);

 

10

 

(3)           any limit upon the aggregate
principal amount of the Securities of the series that may be authenticated and
delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the series pursuant to Section 2.07, 2.08, 2.11, 3.07
or 9.05);

 

(4)           the date or dates, or the method by
which such date or dates will be determined or extended, on which the principal
of the Securities of the series shall be payable;

 

(5)           the rate or rates at which the
Securities of the series shall bear interest, if any, or the method by which such
rate or rates shall be determined, the date or dates from which such interest
shall accrue or the method by which such date or dates shall be determined, the
interest payment dates on which such interest will be payable, and the basis
upon which interest shall be calculated if other than that of a 360-day year of
twelve 30-day months;

 

(6)           the place or places, if any, other
than or in addition to the Borough of Manhattan, The City of New York, where
the principal of (and premium, if any), interest, if any, on, and Additional
Amounts, if any, payable in respect of, Securities of the series shall be
payable, Securities of the series may be surrendered for registration of
transfer, Securities of the series may be surrendered for exchange or
conversion and notices or demands to or upon the Company in respect of the
Securities of the series and this Indenture may be served;

 

(7)           the period or periods within which,
the price or prices at which, and other terms and conditions upon which
Securities of the series may be redeemed, in whole or in part, at the option of
the Company, if the Company is to have the option;

 

(8)           the obligation, if any, of the
Company to redeem, repay or purchase Securities of the series pursuant to any
sinking fund or analogous provision or at the option of a Holder thereof, and
the period or periods within which or the date or dates on which, the price or
prices at which, and other terms and conditions upon which Securities of the
series shall be redeemed, repaid or purchased, in whole or in part, pursuant to
such obligation;

 

(9)           if other than denominations of $1,000
and any integral multiple thereof, the denominations in which any Securities of
the series shall be issuable;

 

(10)         the identity of the Trustee, if other
than
                                          ,
and the identity of each Registrar and/or Paying Agent, if other than the
Trustee;

 

(11)         if other than the principal amount
thereof, the portion of the principal amount of Securities of the series that
shall be payable upon declaration of acceleration of the maturity thereof
pursuant to Section 6.02 or, if applicable, the portion of the principal
amount of Securities of the series that is convertible in accordance with the
provisions of this Indenture or the method by which such portion shall be
determined;

 

11

 

(12)         whether the amount of payments of
principal of (and premium, if any) or interest, if any, on the Securities of
the series may be determined with reference to an index, formula or other
method (which index, formula or method may be based, without limitation, on one
or more currencies, currency units, composite currencies, commodities, equity
indices or other indices), and the manner in which such amounts shall be determined;

 

(13)         provisions, if any, granting special
rights to the Holders of Securities of the series upon the occurrence of such
events as may be specified;

 

(14)         any deletions from, modifications of or
additions to the Events of Default or covenants of the Company with respect to
Securities of the series, whether or not such Events of Default or covenants
are consistent with the Events of Default or covenants set forth herein;

 

(15)         whether any Securities of the series
are to be issuable initially in temporary global form and the date as of which
any temporary global Security representing Outstanding Securities of the series
shall be dated if other than the date of original issuance of the first
Security of the series to be issued, and whether any Securities of the series
are to be issuable in permanent global form and, if so, whether owners of
beneficial interests in any such permanent global Security may exchange such
interests for Definitive Securities of that series of like tenor of any
authorized form and denomination or transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Definitive Security and vice
versa and if so, the circumstances under which any such exchange or transfer
may occur, if other than in the manner provided in Section 2.07 and the
identity of the Depositary;

 

(16)         the Person to whom any interest on any
Security of the series shall be payable, if other than the Person in whose name
that Security (or one or more predecessor Securities) is registered at the close
of business on the Record Date for such interest and the extent to which, or
the manner in which, any interest payable on a temporary global Security on an
interest payment date will be paid;

 

(17)         the applicability, if any, of Sections
8.02 and/or 8.03 to the Securities of the series and any provisions in
modification of, in addition to or in lieu of any of the provisions of Article 8;

 

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

 

(19)         if the Securities of the series are to
be issued upon the exercise of warrants, the time, manner and place for such
Securities to be authenticated and delivered;

 

(20)         whether and under what circumstances
the Company will pay Additional Amounts as contemplated by Section 4.05 on
the Securities of the series to any Holder 

 

12

 

who is not a United
States person (including any modification to the definition of such term) in
respect of any tax, assessment or governmental charge and, if so, whether the
Company will have the option to redeem such Securities rather than pay such
Additional Amounts (and the terms of any such option);

 

(21)         the obligation, if any, of the Company
to permit the conversion of the Securities of that series into Capital Stock of
the Company, and the terms and conditions upon which such conversion shall be
effected (including, without limitation, the initial conversion price or rate,
the conversion period, any adjustment of the applicable conversion price, any
requirements relative to hedging arrangements and reservation of shares for
purposes of conversion and any other provision in addition to or in lieu of
those set forth in this Indenture or any indenture supplemental hereto relative
to such obligation);

 

(22)         if other than U.S. Dollars, the foreign
currency in which payment of the principal of, premium (if any), interest and
Additional Amounts (if any) on the Securities of that series shall be payable
or in which such Securities shall be denominated and the particular provisions
applicable thereto; and

 

(23)         any other terms of the series (which
terms shall not be inconsistent with the provisions of this Indenture).

 

All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise
be provided in or pursuant to such Board Resolution (subject to Section 2.03)
and set forth in such Officers’ Certificate or in any such indenture
supplemental hereto.  All Securities of
any one series need not be issued at the same time and, unless otherwise
provided, a series may be reopened, without the consent of the Holders, for
issuances of additional Securities of that series.

 

If any of the terms of the Securities of any series
are established by action taken pursuant to one or more Board Resolutions, a
copy of an appropriate record of such action(s) shall be certified by the
Secretary or an Assistant Secretary of the Company and delivered to the Trustee
at or prior to the delivery of the Officers’ Certificate setting forth the
terms of the Securities of that series.

 

Section 2.03         Execution and Authentication.

 

Two Officers must sign the Securities of any series
for the Company by manual or facsimile signature.

 

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

 

A Security will not be valid until authenticated by
the manual signature of the Trustee.  The
signature will be conclusive evidence that the Security has been authenticated
under this Indenture.

 

13

 

The Trustee will, upon receipt at any time or from
time to time of a written order of the Company signed by two Officers (an “Authentication
Order”), authenticate Securities of any series for original issue up to the
aggregate principal amount set forth in such Authentication Order.  The Trustee may appoint an authenticating
agent acceptable to the Company to authenticate Securities.  An authenticating agent may authenticate
Securities whenever the Trustee may do so. 
Each reference in this Indenture to authentication by the Trustee
includes authentication by such agent. 
An authenticating agent has the same rights as an Agent to deal with
Holders or an Affiliate of the Company.

 

In authenticating Securities of any series, and
accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall be entitled to receive, and (subject to TIA
§§ 315(a) through 315(d)) shall be fully protected in relying upon,

 

(1)           an Opinion of Counsel stating that:

 

(i)            the
form or forms of such Securities have been established in conformity with the
provisions of this Indenture;

 

(ii)           the
terms of such Securities have been established in conformity with the provisions
of this Indenture; and

 

(iii)          such
Securities, when completed by appropriate insertions and executed and delivered
by the Company to the Trustee for authentication in accordance with this
Indenture, authenticated and delivered by the Trustee in accordance with this
Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute legal, valid and binding
obligation of the Company, enforceable in accordance with their terms, subject
to applicable bankruptcy, insolvency, reorganization and other similar laws of
general applicability relating to or affecting the enforcement of creditors’
rights, to general equitable principles and to such other qualifications as
such counsel shall conclude do not materially affect the rights of Holders of
such Securities; and

 

(2)           an Officers’ Certificate stating that
all conditions precedent provided for in this Indenture relating to the
issuance of the Securities have been complied with and that, to the best of the
knowledge of the signers of such Certificate, no Event of Default with respect
to any of the Securities shall have occurred and be continuing.

 

Section 2.04         Registrar and Paying Agent.

 

The Company will maintain in each Place of Payment for
Securities of any series an office or agency where such Securities may be
presented for registration of transfer or for exchange (“Registrar”) and an office or
agency where such Securities may be presented for payment (“Paying Agent”).  The Registrar will keep a register of the
Securities of that series and of their transfer and exchange.  The Company may appoint one or more
co-registrars and one or more additional paying agents.  The term “Registrar” includes any
co-registrar and the term “Paying Agent” includes any additional paying
agent.  The Company may change any Paying
Agent or Registrar without notice to any Holder.  The Company will notify the Trustee in
writing of the name and address of any Agent not a party to this
Indenture.  If the Company fail to 

 

14

 

appoint or maintain another entity as Registrar or
Paying Agent, the Trustee shall act as such. 
The Company or any of its Subsidiaries may act as Paying Agent or
Registrar.

 

The Company initially appoint The Depository Trust
Company (“DTC”) to act
as Depositary with respect to the Global Securities.

 

The Company initially appoint the Trustee to act as
the Registrar and Paying Agent and to act as Custodian with respect to the
Global Securities.

 

Section 2.05         Paying Agent to Hold Money in Trust.

 

The Company will require each Paying Agent for
Securities of a series other than the Trustee to agree in writing that the
Paying Agent will hold in trust for the benefit of Holders or the Trustee all
money held by the Paying Agent for the payment of principal, premium or
Additional Amounts, if any, or interest on the Securities of that series, and
will notify the Trustee of any default by the Company in making any such
payment.  While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee.  The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary of the Company) will have no
further liability for the money.  If the
Company or a Subsidiary of the Company acts as Paying Agent, it will segregate
and hold in a separate trust fund for the benefit of the Holders all money held
by it as Paying Agent.  Upon any
bankruptcy or reorganization proceedings relating to the Company, the Trustee
will serve as Paying Agent for the Securities.

 

Section 2.06         Holder Lists.

 

The Trustee in respect of Securities of a series will
preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of all Holders of Securities of that
series and shall otherwise comply with TIA § 312(a).  If the Trustee is not the Registrar of such
Securities, the Company will furnish to the Trustee at least seven Business
Days before each Interest Payment Date and at such other times as the Trustee
may request in writing, a list in such form and as of such date as the Trustee
may reasonably require of the names and addresses of the Holders of such
Securities and the Company shall otherwise comply with TIA § 312(a).

 

Section 2.07         Transfer and Exchange.

 

(a)           Transfer and Exchange of Global Securities.  A Global Security may not be transferred as a
whole except by the Depositary to a nominee of the Depositary, by a nominee of
the Depositary to the Depositary or to another nominee of the Depositary, or by
the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary.  All Global
Securities will be exchanged by the Company for Definitive Securities if:

 

(1)           the Company delivers to the Trustee
notice from the Depositary that it is unwilling or unable to continue to act as
Depositary or that it is no longer a clearing agency registered under the
Exchange Act and, in either case, a successor Depositary is 

 

15

 

not appointed by the Company within 120 days after the
date of such notice from the Depositary; or

 

(2)                                  the Company in its sole discretion
determines that the Global Securities (in whole but not in part) should be
exchanged for Definitive Securities and delivers a written notice to such
effect to the Trustee.

 

Upon
the occurrence of either of the preceding events in subparagraph (1) or (2) above,
Definitive Securities shall be issued in such names as the Depositary shall
instruct the Trustee.  Global Securities
also may be exchanged or replaced, in whole or in part, as provided in Sections
2.08 and 2.11.  Every Security
authenticated and delivered in exchange for, or in lieu of, a Global Security
or any portion thereof, pursuant to this Section 2.07 or Section 2.08
or 2.11 hereof, shall be authenticated and delivered in the form of, and shall
be, a Global Security.  A Global Security
may not be exchanged for another Security other than as provided in this Section 2.07(a),
however, beneficial interests in a Global Security may be transferred and
exchanged as provided in Section 2.07(b) or (c).

 

(b)                                 Transfer and Exchange
of Beneficial Interests in the Global Securities. 
The transfer and exchange of beneficial interests in the Global
Securities will be effected through the Depositary, in accordance with the
provisions of this Indenture and the Applicable Procedures.  Transfers of beneficial interests in the
Global Securities also will require compliance with either subparagraph (1) or
(2) below, as applicable, as well as one or more of the other following
paragraphs, as applicable:

 

(1)                                  Transfer of Beneficial
Interests in the Same Global Security.  Beneficial
interests in any Global Security may be transferred to Persons who take
delivery thereof in the form of a beneficial interest in the same Global
Security.  No written orders or
instructions shall be required to be delivered to the Registrar to effect the
transfers described in this Section 2.07(b)(1).

 

(2)                                  All Other Transfers and
Exchanges of Beneficial Interests in Global Securities. 
In connection with all transfers and exchanges of beneficial interests
that are not subject to Section 2.07(b)(1) above, the transferor of
such beneficial interest must deliver to the Registrar either:

 

(i)                                     both:

 

(A)                              a written order
from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or
cause to be credited a beneficial interest in another Global Security in an
amount equal to the beneficial interest to be transferred or exchanged; and

 

(B)                                instructions
given in accordance with the Applicable Procedures containing information
regarding the Participant account to be credited with such increase; or

 

(ii)                                  both:

 

16

 

(A)                              a written order
from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to cause to
be issued a Definitive Security in an amount equal to the beneficial interest
to be transferred or exchanged; and

 

(B)                                instructions
given by the Depositary to the Registrar containing information regarding the
Person in whose name such Definitive Security shall be registered to effect the
transfer or exchange referred to in (A) above.  Upon satisfaction of all of the requirements
for transfer or exchange of beneficial interests in Global Securities contained
in this Indenture and the Securities or otherwise applicable under the
Securities Act, the Trustee shall adjust the principal amount of the relevant
Global Security(s) pursuant to Section 2.07(g).

 

(c)                                  Transfer or Exchange of
Beneficial Interests for Definitive Securities. 
If any
holder of a beneficial interest in a Global Security is entitled to exchange
such beneficial interest for a Definitive Security or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of a
Definitive Security of the same series and of like tenor and principal amount
of authorized form and denomination, as specified as contemplated by Section 2.02(15),
then, upon satisfaction of the conditions set forth in Section 2.07(b)(2),
the Trustee will cause the aggregate principal amount of the applicable Global
Security to be reduced accordingly pursuant to Section 2.07(g), and the
Company will execute and the Trustee will authenticate and deliver to the
Person designated in the instructions a Definitive Security in the appropriate
principal amount.  Any Definitive
Security issued in exchange for a beneficial interest pursuant to this Section 2.07(c) will
be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant.  The
Trustee will deliver such Definitive Securities to the Persons in whose names
such Securities are so registered.

 

(d)                                 Transfer and Exchange
of Definitive Securities for Beneficial Interests.  If at any time a Holder of a Definitive Security is
entitled to exchange such Security for a beneficial interest in a Global
Security or transfer such Definitive Security to a Person who takes delivery
thereof in the form of a beneficial interest in a Global Security of the same
series and of like tenor and principal amount of authorized form and
denomination, as specified as contemplated by Section 2.02(15), then, upon
receipt of a request for such an exchange or transfer, the Trustee will cancel
the applicable Definitive Security and increase or cause to be increased the
aggregate principal amount of one of the appropriate Global Securities.  If any such exchange or transfer from a
Definitive Security to a beneficial interest is effected pursuant to this
paragraph (d) at a time when a Global Security has not yet been issued,
the Company will issue and, upon receipt of an Authentication Order in
accordance with Section 2.03 hereof, the Trustee will authenticate one or
more Global Securities in an aggregate principal amount equal to the principal
amount of the Definitive Security proposed to be so exchanged or transferred.

 

(e)                                  Transfer and Exchange
of Definitive Securities for Definitive Securities. 
Upon request by a Holder of Definitive Securities and such Holder’s compliance
with the provisions of this Section 2.07(e), the Registrar will register
the transfer of such Holder’s Definitive Securities

 

17

 

to
a Person who takes delivery thereof in the form of one or more Definitive
Securities of the same series, of any authorized denominations and of like
aggregate principal amount or the exchange of such Holder’s Definitive
Securities for Definitive Securities of the same series, of any authorized
denominations and of like aggregate principal amount.  Prior to such registration of transfer or
exchange, the requesting Holder must present or surrender to the Registrar the
Definitive Securities duly endorsed or accompanied by a written instrument of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by its attorney, duly authorized in writing. 
A Holder of Definitive Securities may transfer such Securities.  Upon receipt of a request to register such a
transfer, the Registrar shall register the Definitive Securities pursuant to
the instructions from the Holder thereof.

 

(f)                                    Global Security Legend. 
The following legend will appear on the face of all Global Securities
issued under this Indenture unless specifically stated otherwise in the
applicable provisions of one or more indentures supplemental hereto or approved
from time to time by or pursuant to Board Resolutions in accordance with Section 2.02
of this Indenture:

 

“THIS
GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE, (2) THIS
GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO
SECTION 2.07(a) OF THE INDENTURE, (3) THIS GLOBAL
SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12
OF THE INDENTURE AND (4) THIS GLOBAL SECURITY MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY.

 

UNLESS
AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE
FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO
THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.  UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55
WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

 

18

 

(g)                                 Cancellation and/or
Adjustment of Global Securities.  At such time
as all beneficial interests in a particular Global Security have been exchanged
for Definitive Securities or a particular Global Security has been redeemed,
repurchased or canceled in whole and not in part, each such Global Security
will be returned to or retained and canceled by the Trustee in accordance with Section 2.12.  At any time prior to such cancellation, if
any beneficial interest in a Global Security is exchanged for or transferred to
a Person who will take delivery thereof in the form of a beneficial interest in
another Global Security or for Definitive Securities, the principal amount of
Securities represented by such Global Security will be reduced accordingly and
an endorsement will be made on such Global Security by the Trustee or by the
Depositary at the direction of the Trustee to reflect such reduction; and if
the beneficial interest is being exchanged for or transferred to a Person who
will take delivery thereof in the form of a beneficial interest in another
Global Security, such other Global Security will be increased accordingly and
an endorsement will be made on such Global Security by the Trustee or by the
Depositary at the direction of the Trustee to reflect such increase.

 

(h)                                 General Provisions
Relating to Transfers and Exchanges.

 

(1)                                  To permit registrations of transfers and
exchanges, the Company will execute and the Trustee will authenticate Global
Securities and Definitive Securities upon receipt of an Authentication Order in
accordance with Section 2.03 or at the Registrar’s request.

 

(2)                                  No service charge will be made to a
Holder of a Global Security or to a Holder of a Definitive Security for any
registration of transfer or exchange, but the Company may require payment of a
sum sufficient to cover any transfer tax or similar governmental charge payable
in connection therewith (other than any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections
2.11, 3.07, and 9.05 hereof).  The
Registrar will not be required to register the transfer of or exchange any
Security selected for redemption in whole or in part, except the unredeemed
portion of any Security being redeemed in part.

 

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

 

(4)                                  The Company will not be required:

 

(i)                                     to issue, to
register the transfer of or to exchange any Securities during a period
beginning at the opening of business 15 days before the day of any selection of
Securities for redemption under Section 3.03 hereof and ending at the
close of business on the day of selection;

 

(ii)                                  to register the
transfer of or to exchange any Security selected for redemption in whole or in
part, except the unredeemed portion of any Security being redeemed in part;

 

19

 

(iii)                               to register the
transfer of or to exchange a Security between a Record Date and the next
succeeding Interest Payment Date; or

 

(iv)                              to register the
transfer of any Security which has been surrendered for repayment at option of
Holder, except the portion, if any, of such Security not to be so repaid.

 

(5)                                  Prior to due presentment for the
registration of a transfer of any Security, the Trustee, any Agent and the
Company may deem and treat the Person in whose name any Security is registered
as the absolute owner of such Security for the purpose of receiving payment of
principal of and interest on such Securities and for all other purposes, and
none of the Trustee, any Agent or the Company shall be affected by notice to
the contrary.

 

(6)                                  The Trustee will authenticate Global
Securities and Definitive Securities in accordance with the provisions of Section 2.03
hereof.

 

(7)                                  All orders and instructions required to
be submitted to the Registrar or the Company pursuant to this Section 2.07
to effect a registration of transfer or exchange may be submitted by facsimile.

 

Section 2.08                            Replacement Securities.

 

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

 

Every
replacement Security is an additional obligation of the Company and will be
entitled to all of the benefits of this Indenture equally and proportionately
with all other Securities duly issued hereunder.

 

Notwithstanding
the provisions of the previous two paragraphs, in case any such mutilated,
destroyed, lost or stolen Security 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.

 

Section 2.09                            Outstanding Securities.

 

The
Securities “Outstanding” at any time are all the Securities authenticated by
the Trustee except for:

 

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

 

20

 

(2)                                  Securities, or portions thereof, for
whose payment or redemption or repayment at the option of the Holder money in
the necessary amount has been theretofore deposited 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, 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;

 

(3)                                  Securities, except to the extent provided
in Sections 8.02 and 8.03, with respect to which the Company has effected
defeasance and/or covenant defeasance as provided in Article 8;

 

(4)                                  Securities which have been paid pursuant
to Section 4.01 or 10.01 or in exchange for or in lieu of which other
Securities have been authenticated and delivered pursuant to this Indenture,
other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held
by a bona fide purchaser in whose hands such Securities are valid obligations
of the Company; and

 

(5)                                  Securities converted into Capital Stock  of the Company in accordance with or as contemplated by
this Indenture, if the terms of such Securities provide for convertibility as
contemplated by Section 2.02;

 

provided, however, that in determining whether the Holders of the
requisite principal amount of the Outstanding Securities have given any
request, demand, authorization, direction, notice, consent or waiver, and for
the purpose of making the calculations required by TIA § 313, (i) the
principal amount of an Original Issue Discount Security that may be counted in
making such determination or calculation and that shall be deemed to be
Outstanding for such purpose shall be equal to the amount of principal thereof
that would be (or shall have been declared to be) due and payable, at the time
of such determination, upon a declaration of acceleration of the maturity
thereof pursuant to Section 6.02, (ii) the principal amount of
any Indexed Security that may be counted in making such determination or
calculation 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 with respect to such Security as contemplated
by Section 2.02, and (iii) Securities owned by the Company or
any other obligor upon the Securities or any Affiliate of the Company or of
such other obligor shall be disregarded and deemed not to be Outstanding to the
extent provided in Section 2.10.

 

Section 2.10                            Treasury Securities.

 

In
determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, authorization,
direction, notice, waiver or consent, and for the purpose of making the calculations
required by TIA § 313, Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that in
determining whether the Trustee shall be protected in making such calculation
or in relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities

 

21

 

which the Trustee knows to be so owned shall be so
disregarded.  Securities so owned which
have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee the pledgee’s right so to act
with respect to such Securities and that the pledgee is not the Company or any
other obligor upon the Securities or any Affiliate of the Company or of such
other obligor.

 

Section 2.11                            Temporary Securities.

 

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

 

Holders
of temporary Securities will be entitled to all of the benefits of this
Indenture.

 

Section 2.12                            Cancellation.

 

The
Company at any time may deliver Securities to the Trustee for
cancellation.  The Registrar and Paying
Agent will forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. 
The Trustee and no one else will cancel all Securities surrendered for
registration of transfer, exchange, payment, replacement or cancellation and
will dispose of canceled Securities (subject to the record retention
requirement of the Exchange Act).  The
Company may not issue new Securities to replace Securities that they have paid
or that have been delivered to the Trustee for cancellation, except for
replacement Securities for mutilated Securities pursuant to Section 2.08
hereof.

 

Section 2.13                            Defaulted Interest.

 

If the
Company defaults in a payment of interest on the Securities of any series, it
will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are
Holders of Securities of that series on a subsequent special record date, in
each case at the rate provided in the Securities of that series and in Section 4.01
hereof.  The Company will notify the
Trustee in writing of the amount of defaulted interest proposed to be paid on
each Security of that series and the date of the proposed payment.  The Company will fix or cause to be fixed
each such special record date and payment date, provided that no such special record date may be less than
10 days prior to the related payment date for such defaulted interest.  At least 15 days before the special record
date, the Company (or, upon the written request of the Company, the Trustee in
the name and at the expense of the Company) will mail or cause to be mailed to
Holders of Securities of that series a notice that states the special record
date, the related payment date and the amount of such interest to be paid on
such Securities.

 

22

 

ARTICLE
3

 

REDEMPTION AND PREPAYMENT

 

Section 3.01                            Applicability of Article.

 

Securities
of any series which are redeemable before their maturity shall be redeemable in
accordance with their terms and (except as otherwise specified as contemplated
by Section 2.02 for Securities of any series) in accordance with this
Article.

 

Section 3.02                            Notices to Trustee.

 

The
election of the Company to redeem or purchase in an offer to purchase
Securities of any series shall be evidenced by a Board Resolution.  The Company shall, at least 45 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 that series to be redeemed by delivering
to the Trustee an Officers’ Certificate setting forth:

 

(1)                                  the paragraph of the Securities and/or Section of
this Indenture or any indenture supplemental hereto pursuant to which the
redemption shall occur;

 

(2)                                  the redemption date, and if such
redemption date is conditional, a description of the event upon which it is
conditioned;

 

(3)                                  the principal amount of Securities of
that series to be redeemed, plus accrued interest and Additional Amounts, if
any, to the redemption date; and

 

(4)                                  the redemption price, including any
make-whole amount or premium, if applicable.

 

Section 3.03                            Selection of Securities to Be Redeemed.

 

If
less than all of the Securities of any series are to be redeemed or purchased
in an offer to purchase at any time, the Trustee will select the particular
Securities for redemption or purchase from the Outstanding Securities of that
series not previously called for redemption, as follows:

 

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

 

(2)                                  if the Securities of that series are not
listed on any national securities exchange, on a pro rata
basis, by lot or by such other method as the Trustee shall deem fair and
appropriate.

 

23

 

In the
event of partial redemption by lot, the particular Securities to be redeemed
will be selected, unless otherwise provided in this Indenture, not less than 30
nor more than 60 days prior to the redemption date by the Trustee.

 

The
Trustee will promptly notify the Company in writing of the Securities selected
for redemption or purchase and, in the case of any Security selected for
partial redemption or purchase, the principal amount thereof to be redeemed or
purchased.  Securities and portions of
Securities of any series selected will be in amounts equal to the minimum
authorized denomination for Securities of that series or any integral multiple
thereof; provided, however, that if all of the
Outstanding Securities of a Holder are to be redeemed or purchased, the entire
amount of such Securities held by such Holder, even if not a multiple of the
minimum authorized denomination for Securities of that series, shall be
redeemed or purchased.  Except as
provided in the preceding sentence, provisions of this Indenture that apply to
Securities called for redemption or purchase also apply to portions of
Securities called for redemption or purchase.

 

Section 3.04                            Notice of Redemption.

 

At
least 30 days but not more than 60 days before a redemption date, unless a
shorter period is specified by the terms of that series as contemplated by Section 2.02,
the Company will mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Securities are to be redeemed at its registered
address, except that redemption notices may be mailed more than 60 days prior
to a redemption date if the notice is issued in connection with a defeasance of
the Securities or a satisfaction and discharge of this Indenture pursuant to Article 8
or 11 of this Indenture.  Any notice that
is mailed to the Holders of Securities in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not the Holder
receives such notice.

 

The
notice will identify the Securities to be redeemed and will state:

 

(1)                                  the redemption date, and if such
redemption date is conditional, a description of the event upon which it is
conditioned;

 

(2)                                  the redemption price, including the
accrued interest and Additional Amounts, if any, to the redemption date and any
make-whole amount or premium, if applicable;

 

(3)                                  if any Security is being redeemed in
part, the portion of the principal amount of such Security to be redeemed and
that, after the redemption date upon surrender of such Security, a new Security
or Securities of the same series and tenor in principal amount equal to the
unredeemed portion will be issued upon cancellation of the original Security;

 

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

 

(5)                                  that Securities called for redemption
must be surrendered to the Paying Agent at the Place of Payment to collect the
redemption price or to convert (if applicable);

 

24

 

(6)                                  that, unless the Company defaults in
making such redemption payment, interest on Securities called for redemption
ceases to accrue on and after the redemption date;

 

(7)                                  the paragraph of the Securities and/or Section of
this Indenture or any indenture supplemental hereto pursuant to which the
Securities called for redemption are being redeemed;

 

(8)                                  that no representation is made as to the
correctness or accuracy of the CUSIP number, if any, listed in such notice or
printed on the Securities;

 

(9)                                  that the redemption is for a sinking
fund, if applicable; and

 

(10)                            if applicable, that a Holder of
Securities who desires to convert Securities in connection with a redemption
must satisfy the requirements for conversion contained in such Securities, the
then existing conversion price or rate, and the date and time when the option
to convert shall expire.

 

At the
Company’s request, the Trustee will give the notice of redemption in the
Company’s name and at its expense; provided,
however, that the Company has
delivered to the Trustee, at least 45 days (or such shorter period of time as
is satisfactory to the Trustee) prior to the redemption date, an Officers’
Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in the preceding paragraph.

 

Section 3.05                            Effect of Notice of Redemption.

 

Once
notice of redemption is mailed in accordance with Section 3.04 hereof,
Securities called for redemption become irrevocably due and payable on the
redemption date at the redemption price therein specified.  A notice of redemption may be conditioned
upon the happening of an event, provided such event is described in the
redemption notice.

 

Section 3.06                            Deposit of Redemption or Purchase Price.

 

On the
redemption or purchase date, the Company will deposit with the Trustee or with
the Paying Agent money in the currency or currencies, currency unit or units or
composite currency or currencies in which the Securities are payable sufficient
to pay the redemption or purchase price of and accrued interest and Additional
Amounts, if any, on all Securities to be redeemed or purchased on that
date.  The Trustee or the Paying Agent
will promptly return to the Company any money deposited with the Trustee or the
Paying Agent by the Company in excess of the amounts necessary to pay the
redemption or purchase price of, and accrued interest and Additional Amounts,
if any, on, all Securities to be redeemed or purchased.

 

If the
Company complies with the provisions of the preceding paragraph, on and after
the redemption or purchase date, interest will cease to accrue on the
Securities or the portions of Securities called for redemption or
purchase.  If a Security is redeemed or
purchased on or after a Record Date but on or prior to the related Interest
Payment Date, then any accrued and unpaid interest shall be paid to the Person
in whose name such Security was registered at the close of business on such
Record Date; provided, however,
that except as otherwise provided

 

25

 

with respect to Securities convertible into Capital
Stock of the Company, installments of interest on Securities whose 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 relevant Record Dates according to the terms and
provisions of Section 2.02.  If any
Security called for redemption or purchase is not so paid upon surrender for
redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the
redemption or purchase date until such principal is paid, and to the extent
lawful on any interest not paid on such unpaid principal, in each case at the
rate provided in the Securities and in Section 4.01 hereof.

 

Section 3.07                            Securities Redeemed or Purchased in Part.

 

Upon
surrender of a Security of a series that is redeemed or purchased in part at a
Place of Payment therefor (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), the Company will issue and, upon receipt of an
Authentication Order, the Trustee will authenticate for the Holder at the
expense of the Company a new Security of the same series of any authorized
denomination as requested by the Holder in an aggregate principal amount equal
to and in exchange for the unredeemed or unpurchased portion of the principal
of the Security so surrendered.

 

Section 3.08                            Conversion Arrangement on Call for
Redemption.

 

In
connection with any redemption of Securities, the Company may arrange for the
purchase and conversion of any Securities called for redemption by an agreement
with one or more investment bankers or other purchasers to purchase such
Securities by paying to the Trustee or the Paying Agent in trust for the
Holders of Securities, on or before 10:00 a.m. Eastern Time on the
redemption date, an amount not less than the redemption price, together with
interest, if any, accrued to the redemption date of such Securities, in
immediately available funds. 
Notwithstanding anything to the contrary contained in this Article 3,
the obligation of the Company to pay the redemption price of such Securities,
including all accrued interest, if any, shall be deemed to be satisfied and
discharged to the extent such amount is so paid by such purchasers.  If such an agreement is entered into, any
Securities not duly surrendered for conversion by the Holders thereof may, at
the option of the Company, be deemed, to the fullest extent permitted by law,
acquired by such purchasers from such Holders and surrendered by such purchasers
for conversion, all as of immediately prior to the close of business on the
last day on which Securities of that series called for redemption may be
converted in accordance with this Indenture and the terms of such Securities,
subject to payment to the Trustee or Paying Agent of the above-described
amount.  The Trustee or the Paying Agent
shall hold and pay to the Holders whose Securities are selected for redemption
any such amount paid to it in the same manner as it would pay moneys deposited
with it by the Company for the redemption of Securities.  Without the Trustee’s and the Paying Agent’s
prior written consent, no arrangement between the Company and such purchasers
for the purchase and conversion of any Securities shall increase or otherwise
affect any of the powers, duties, responsibilities or obligations of the
Trustee and the Paying Agent as set forth in this Indenture, and the Company
agrees to indemnify the Trustee and the Paying Agent from, and hold them
harmless against, any loss, liability or expense owing out of or in connection
with any such arrangement for the purchase and conversion of any

 

26

 

Securities between the Company and such purchasers,
including the costs and expenses incurred by the Trustee and the Paying Agent
(including the fees and expenses of their agents and counsel) in the defense of
any claim or liability arising out of or in connection with the exercise or
performance of any of their powers, duties, responsibilities or obligations
under this Indenture.

 

ARTICLE
4

 

COVENANTS

 

Section 4.01                            Payment of Securities.

 

The
Company will pay or cause to be paid the principal of, premium, if any, and
interest and Additional Amounts, if any, on the Securities of each series on
the dates, in the currency or currency unit and in the manner provided in the
terms of that series of Securities and this Indenture.  Principal, premium, if any, and interest and
Additional Amounts, if any, will be considered paid on the date due if the
Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
10:00 a.m. Eastern Time on the due date money deposited by the Company in
immediately available funds and designated for and sufficient to pay all
principal, premium, if any, and interest then due.

 

The
Company will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue principal at the rate equal to 1% per
annum in excess of the then applicable interest rate on the Securities of the
applicable series to the extent lawful; the Company will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law)
on overdue installments of interest and Additional Amounts (without regard to
any applicable grace period) at the same rate to the extent lawful.

 

Section 4.02                            Maintenance of Office or Agency.

 

The
Company will maintain in each Place of Payment for Securities of any series an
office or agency (which may be an office of the Trustee or an affiliate of the
Trustee, Registrar or co-registrar) where Securities of that series may be
presented or surrendered for payment or conversion, where Securities of that
series may be surrendered for registration of transfer or for exchange and
where notices and demands to or upon the Company in respect of the Securities
of that series and this Indenture may be served.  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
fails to maintain any such required office or agency or 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.

 

The
Company may also from time to time designate one or more other offices or
agencies where the Securities of any 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 will in any manner relieve the Company
of its obligation to maintain an office or agency in the Place of Payment for
such purposes.  The Company will 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.

 

27

 

Unless
otherwise specified with respect to Securities of any series as contemplated by
Section 2.02, the Company hereby designates as a Place of Payment for each
series of Securities the Corporate Trust Office of the Trustee in the Borough
of Manhattan in the City of New York as one such office or agency of the
Company in accordance with Section 2.04 hereof.

 

Section 4.03                            Reports.

 

The
Company shall file with the Trustee, within 15 days after the Company 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 may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act.  The Company also shall
comply with the other provisions of TIA § 314(a).

 

Section 4.04                            Compliance Certificate.

 

(a)                                  The Company shall deliver to the Trustee,
within 120 days after the end of each fiscal year, an Officers’ Certificate
stating that a review of the activities of the Company and its Subsidiaries
during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has kept,
observed, performed and fulfilled its obligations under this Indenture, and
further stating, as to each such Officer signing such certificate, that to the
best of his or her knowledge, the Company has kept, observed, performed and
fulfilled each and every covenant contained in this Indenture and is not in
default in the performance or observance of any of the terms, provisions and conditions
of this Indenture (or, if a Default or Event of Default has occurred,
describing all such Defaults or Events of Default of which he or she may have
knowledge and what action the Company is taking or proposes to take with
respect thereto).

 

(b)                                 So long as any of the Securities are
outstanding, the Company will deliver to the Trustee, forthwith upon any
Officer becoming aware of any Default or Event of Default, an Officers’
Certificate specifying such Default or Event of Default and what action the Company
is taking or propose to take with respect thereto.

 

Section 4.05                            Additional Amounts.

 

If any
Securities of a series provide for the payment of Additional Amounts, the
Company will pay to the Holder of any Security of that series Additional
Amounts as may be specified as contemplated by Section 2.02.  Whenever in this Indenture there is mentioned
the payment of the principal of or any premium or interest on, or in respect
of, any Security of any series or the net proceeds received on the sale or
exchange of any Security of any series, such mention shall be deemed to include
mention of the payment of Additional Amounts provided by the terms of that
series established pursuant to Section 2.02 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 provisions hereof shall not be construed as excluding
Additional Amounts in those provisions hereof where such express mention is not
made.

 

28

 

Except
as otherwise specified as contemplated by Section 2.02, if the Securities
of a series provide for the payment of Additional Amounts, at least 10 days
prior to the first interest payment date with respect to that series of
Securities (or if the Securities of that series will not bear interest prior to
maturity, the first day on which a payment of principal and any premium is
made), and at least 10 days prior to each date of payment of principal and any
premium or interest if there has been any change with respect to the matters
set forth in the below-mentioned Officers’ Certificate, the Company will
furnish the Trustee and the Company’s principal Paying Agent or Paying Agents,
if other than the Trustee, with an Officers’ Certificate instructing the
Trustee and such Paying Agent or Paying Agents whether such payment of
principal of and any premium or interest on the Securities of that series shall
be made to Holders of Securities of that series who are not United States
persons without withholding for or on account of any tax, assessment or other
governmental charge described in the Securities of the series.  If any such withholding shall be required,
then such Officers’ Certificate shall specify by country the amount, if any,
required to be withheld on such payments to such Holders of Securities of that
series and the Company will pay to the Trustee or such Paying Agent the
Additional Amounts required by the terms of such Securities.  In the event that the Trustee or any Paying
Agent, as the case may be, shall not so receive the above-mentioned
certificate, then the Trustee or such Paying Agent shall be entitled (i) to
assume that no such withholding or deduction is required with respect to any
payment of principal or interest with respect to any Securities of a series
until it shall have received a certificate advising otherwise and (ii) to
make all payments of principal and interest with respect to the Securities of a
series without withholding or deductions until otherwise advised.  The Company covenants to indemnify the
Trustee and any Paying Agent for, and to hold them harmless against, any loss,
liability or expense reasonably incurred without negligence or bad faith on their
part arising out of or in connection with actions taken or omitted by any of
them or in reliance on any Officers’ Certificate furnished pursuant to this Section or
in reliance on the Company’s not furnishing such an Officers’ Certificate.

 

Section 4.06                            Corporate Existence.

 

Except
as permitted by Article 5, the Company and its Subsidiaries shall do all
things necessary to preserve and keep their existence, rights and franchises; provided, however, that
the existence of a Subsidiary may be terminated if the Board of Directors of
the Company determines that it is in the best interests of the Company to do
so.

 

ARTICLE
5

 

SUCCESSORS

 

Section 5.01                            Merger, Consolidation, or Sale of Assets.

 

The
Company may not, directly or indirectly: (1) consolidate or merge
with or into another Person (whether or not the Company is the surviving
corporation); or (2) sell, assign, transfer, convey, lease or
otherwise dispose of all or substantially all of the properties or assets of
the Company and its Subsidiaries taken as a whole, in one or more related
transactions, to another Person; unless:

 

(1)                                  either:

 

29

 

(i)                                     the Company is
the surviving corporation; or

 

(ii)                                  the Person
formed by or surviving any such consolidation or merger (if other than the
Company) or to which such sale, assignment, transfer, conveyance or other
disposition has been made is organized or existing under the laws of the United
States, any state of the United States or the District of Columbia;

 

(2)                                  the Person formed by or surviving any
such consolidation or merger (if other than the Company) or the Person to which
such sale, assignment, transfer, conveyance or other disposition has been made
assumes all the obligations of the Company under the Securities and this
Indenture pursuant to agreements reasonably satisfactory to the Trustee; and

 

(3)                                  immediately after such transaction, on a
pro forma basis giving effect to such transaction or series of transactions
(and treating any obligation of the Company or any Subsidiary incurred in
connection with or as a result of such transaction or series of transactions as
having been incurred at the time of such transaction), no Default or Event of
Default exists.

 

Section 5.02                            Successor Substituted.

 

Upon
any consolidation or merger, or any sale, assignment, transfer, conveyance,
transfer or other disposition of all or substantially all of the properties or
assets of the Company in accordance with Section 5.01, the successor
Person formed by such consolidation or into which the Company is merged or to
which such sale, assignment, transfer, conveyance or other disposition is made,
shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the same effect as if such
successor initially had been named as the Company herein.  Such successor thereupon may cause to be
signed, and may issue either in its own name or in the name of the Company, any
or all of the Securities issuable hereunder which theretofore shall not have
been signed by the Company and delivered to the Trustee; and, upon the order of
such successor, instead of the Company, and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver any Securities which previously shall have been
signed and delivered by the Officers of the Company to the Trustee for
authentication, and any Securities which such successor thereafter shall cause
to be signed and delivered to the Trustee for that purpose.  All the Securities so issued shall in all
respects have the same legal rank and benefit under this Indenture as the
Securities theretofore or thereafter issued in accordance with the terms of
this Indenture as though all of such Securities had been issued at the date of
the execution hereof.

 

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

 

When a
successor assumes all the obligations of its predecessor under this Indenture
and the Securities following a consolidation or merger, or any sale,
assignment, transfer, conveyance, transfer or other disposition of all or
substantially all of the assets of the

 

30

 

predecessor in accordance with the foregoing
provisions, the predecessor shall be released from those obligations.

 

ARTICLE
6

 

DEFAULTS AND REMEDIES

 

Section 6.01                            Events of Default.

 

Each
of the following is an “Event of Default” wherever used herein with respect to
any particular series of Securities:

 

(1)                                  the Company does not pay the principal or
any premium on any Security of that series when due and payable;

 

(2)                                  the Company does not pay interest on any
Security of that series within 30 days after the applicable due date;

 

(3)                                  the Company or its Subsidiaries fail to
deposit any sinking fund payment, when and as due by the terms of any Security
of that series;

 

(4)                                  the Company fails to comply with the
provisions of Section 4.03 and such failure continues uncured or unwaived
for a period of 180 days after it receives a notice of Default stating the
Company is in breach.  Either the Trustee
or the Holders of more than 25% in aggregate principal amount of the Securities
of that series then Outstanding may send the notice.

 

(5)                                  the Company or its Subsidiaries remain in
breach of any other term of this Indenture (other than a term that has been
included in this Indenture solely for the benefit of series of Securities other
than that series) for 90 days after they receive a notice of Default stating
they are in breach.  Either the Trustee
or the Holders of more than 25% in aggregate principal amount of the Securities
of that series then Outstanding may send the notice;

 

(6)                                  the Company or any of its Significant
Subsidiaries, or any group of Subsidiaries that, taken as a whole, would
constitute a Significant Subsidiary:

 

(i)                                     commences a
voluntary case;

 

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

 

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

 

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

 

(v)                                 generally is
not paying its debts as they become due;

 

31

 

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

 

(i)                                     is for relief
against the Company or any of its Significant Subsidiaries, or any group of Subsidiaries
that, taken as a whole, would constitute a Significant Subsidiary, in an
involuntary case;

 

(ii)                                  appoints a
custodian of the Company or any of its Significant Subsidiaries, or any group
of Subsidiaries that, taken as a whole, would constitute a Significant
Subsidiary, or for all or substantially all of the property of the Company or
any of its Significant Subsidiaries, or any group of Subsidiaries that, taken
as a whole, would constitute a Significant Subsidiary; or

 

(iii)                               orders the
liquidation of the Company or any of its Significant Subsidiaries, or any group
of Subsidiaries that, taken as a whole, would constitute a Significant
Subsidiary;

 

and the order or decree
remains unstayed and in effect for 60 consecutive days; or

 

(8)                                  any other Event of Default provided with
respect to Securities of that series as contemplated by Section 2.02.

 

Section 6.02                            Acceleration.

 

In the
case of an Event of Default specified in clause (6) or (7) of Section 6.01,
with respect to the Company or any of its Significant Subsidiaries or any group
of Subsidiaries that, taken as a whole, would constitute a Significant
Subsidiary, the principal amount (or, if any Securities are Original Issue
Discount Securities or Indexed Securities, such portion of the principal as may
be specified in the terms thereof) of and accrued and unpaid interest, if any,
on all of the Outstanding Securities will become due and payable immediately
without further action or notice.  If any
other Event of Default with respect to Securities of any series at the time
Outstanding occurs and has not been cured, the Trustee or the Holders of at
least 25% in aggregate principal amount of the Securities of that series then
Outstanding may declare the entire principal amount (or specified amount) of and
accrued and unpaid interest, if any, on all of the Securities of that series to
be due and immediately payable by written notice to the Company and the
Trustee.  Upon any such declaration, such
principal amount (or specified amount) of and accrued and unpaid interest, if
any, on all of the Securities of that series shall become due and payable
immediately.  The Holders of a majority
in aggregate principal amount of the Securities of that series then Outstanding
by written notice to the Trustee may on behalf of all of the Holders rescind
and annul an acceleration and its consequences if the rescission or annulment
would not conflict with any judgment or decree and if all existing Events of
Default (except nonpayment of principal, interest or premium that has become
due solely because of the acceleration) have been cured or waived.

 

Section 6.03                            Other Remedies.

 

If an
Event of Default occurs and is continuing with respect to Securities of any
series at the time Outstanding, the Trustee may pursue any available remedy to
collect the

 

32

 

payment of principal, premium and Additional Amounts,
if any, and interest on the Securities of that series or to enforce the
performance of any provision of the Securities of that series or this
Indenture.

 

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

 

Section 6.04                            Waiver of Past Defaults.

 

Holders
of not less than a majority in aggregate principal amount of the then
Outstanding Securities of any series by notice to the Trustee may on behalf of
the Holders of all of the Securities of that series waive an existing Default or
Event of Default and its consequences hereunder, except a continuing Default or
Event of Default in the payment of the principal of, premium and Additional
Amounts, if any, or interest on, the Securities of that series (excluding in
connection with an offer to purchase) or in respect of a covenant or provision
of this Indenture which under Article 9 may not be modified or amended
without the consent of the Holder of each Outstanding Security of the affected
series; provided, however, that the Holders of a majority in
aggregate principal amount of the then Outstanding Securities of that series
may rescind an acceleration and its consequences, including any related payment
default that resulted from such acceleration as provided in Section 6.02.  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 6.05                            Control by Majority.

 

Holders
of a majority in aggregate principal amount of the Securities of any series
then Outstanding may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any
trust or power conferred on it with respect to the Securities of that
series.  However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture that the Trustee
determines may be unduly prejudicial to the rights of other Holders of
Securities of that series or to the Holders of the Securities of any other
series or that may involve the Trustee in personal liability.

 

Section 6.06                            Limitation on Suits.

 

A
Holder of a Security of any series may pursue a remedy with respect to this
Indenture or the Securities of that series only if:

 

(1)                                  such Holder has given the Trustee written
notice that an Event of Default has occurred and remains uncured;

 

(2)                                  the Holders of at least 25% of the
aggregate principal amount of all Outstanding Securities of that series have
made a written request that the Trustee take

 

33

 

action because of the Default, and offered reasonable
indemnity to the Trustee against the cost and other liabilities of taking that
action;

 

(3)                                  the Trustee has not taken action for 60
days after receipt of the notice and offer of indemnity; and

 

(4)                                  the Holders of at least a majority in
aggregate principal amount of all Outstanding Securities of that series have
not given the Trustee a direction inconsistent with such request within such
60-day period.

 

A
Holder of any Security of any series may not use this Indenture to prejudice
the rights of another Holder of a Security of that series or to obtain a
preference or priority over another Holder of a Security of that series.

 

Section 6.07                            Rights of Holders of Securities to
Receive Payment.

 

Notwithstanding
any other provision of this Indenture, the right of any Holder of any Security
to receive payment of principal, premium and Additional Amounts, if any, and
interest on such Security, on or after the respective due dates expressed in
such Security (excluding in connection with an offer to purchase), or to bring
suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of such Holder.

 

Section 6.08                            Collection Suit by Trustee.

 

If an
Event of Default specified in Section 6.01(1), (2) or (3) occurs
and is continuing with respect to the Securities of any series, the Trustee is
authorized to recover judgment in its own name and as trustee of an express
trust against the Company for the whole amount of principal (including any
sinking fund payment), premium and Additional Amounts, if any, and interest
remaining unpaid on the Securities of that series and interest on overdue
principal and, to the extent lawful, interest and such further amount as shall
be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

 

Section 6.09                            Trustee May File Proofs of Claim.

 

The
Trustee is authorized to file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and the
Holders of the Securities of any series allowed in any judicial proceedings
relative to the Company or any other obligor upon the Securities of that
series, their creditors or their property and shall be entitled and empowered
to collect, receive and distribute any money or other property payable or
deliverable on any such claims and any custodian in any such judicial
proceeding is hereby authorized by each Holder of Securities of that series 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 of
that series, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under

 

34

 

Section 7.07 hereof.  To the extent that the payment of any such
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07
hereof out of the estate in any such proceeding, shall be denied for any
reason, payment of the same shall be secured by a Lien on, and shall be paid
out of, any and all distributions, dividends, money, securities and other
properties that the Holders of Securities of that series may be entitled to
receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. 
Nothing herein contained shall be deemed to authorize the Trustee to authorize
or consent to or accept or adopt on behalf of any Holder of a Security any plan
of reorganization, arrangement, adjustment or composition affecting the
Securities 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 in any such
proceeding.

 

Section 6.10                            Priorities.

 

If the
Trustee collects any money pursuant to this Article 6, it shall pay out
the money in the following order:

 

First:  to the Trustee, its agents and
attorneys for amounts due under Section 7.07 hereof, including payment of
all compensation, expense and liabilities incurred, and all advances made, by
the Trustee and the costs and expenses of collection;

 

Second:  to Holders of
Securities in respect of which or for the benefit of which such money has been collected
for amounts due and unpaid on such Securities for principal, premium and
Additional Amounts, if any, and interest, ratably, without preference or
priority of any kind, according to the amounts due and payable on such
Securities for principal, premium and Additional Amounts, if any, and interest,
respectively; and

 

Third:  to the Company or to such party
as a court of competent jurisdiction shall direct.

 

The
Trustee may fix a record date and payment date for any payment to Holders of
Securities pursuant to this Section 6.10.

 

Section 6.11                            Undertaking for Costs.

 

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

 

35

 

ARTICLE  7

 

TRUSTEE

 

Section 7.01         Duties of Trustee.

 

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

 

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

 

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

 

(2)           in the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Trustee and conforming to the requirements of this
Indenture.  However, the Trustee will
examine the certificates and opinions to determine whether or not they conform
to the requirements of this Indenture.

 

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

 

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

 

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

 

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

 

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

 

(e)           No provision of this
Indenture will require the Trustee to expend or risk its own funds or incur any
liability.  The Trustee will be under no
obligation to exercise any of its rights and powers under this Indenture at the
request of any Holder, unless such Holder has offered to the Trustee security
and indemnity satisfactory to it against any loss, liability or expense.

 

36

 

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

 

(g)           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.

 

Section 7.02         Rights of Trustee.

 

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

 

(b)           Before the Trustee
acts or refrains from acting, it may require an Officers’ Certificate or an Opinion
of Counsel or both.  The Trustee will not
be liable for any action it takes or omits to take in good faith in reliance on
such Officers’ Certificate or Opinion of Counsel.  The Trustee may consult with counsel and the
written advice of such counsel or any Opinion of Counsel will be full and
complete authorization and protection from liability in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance
thereon.

 

(c)           The Trustee may act
through its attorneys and agents and will not be responsible for the misconduct
or negligence of any agent appointed with due care unless the Trustee was
negligent in acting through its attorneys and agents.

 

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

 

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

 

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

 

Section 7.03         Individual Rights of Trustee.

 

The
Trustee in its individual or any other capacity may become the owner or pledgee
of Securities and may otherwise deal with the Company or any Affiliate of the
Company with the same rights it would have if it were not Trustee.  However, in the event that the Trustee
acquires any conflicting interest it must eliminate such conflict within 90
days, apply to the Commission for permission to continue as trustee or
resign.  Any Agent may do the same with
like rights and duties.  The Trustee is also
subject to Sections 7.10 and 7.11 hereof.

 

37

 

Section 7.04         Trustee’s Disclaimer.

 

The
Trustee will not be responsible for and makes no representation as to the
validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Company’s use of the proceeds from the Securities or any
money paid to the Company or upon the Company’s direction under any provision
of this Indenture, it will not be responsible for the use or application of any
money received by any Paying Agent other than the Trustee, and it will not be
responsible for any statement or recital herein or any statement in the
Securities or any other document in connection with the sale of the Securities
or pursuant to this Indenture other than its certificate of authentication.

 

Section 7.05         Notice of Defaults.

 

If a
Default or Event of Default occurs and is continuing with respect to the
Securities of any series and if it is known to the Trustee, the Trustee will
mail to Holders of Securities of that series a notice of the Default or Event
of Default within 90 days after it occurs, unless such default shall have been
cured or waived.  Except in the case of a
Default or Event of Default in payment of principal of, premium or Additional
Amounts, if any, or interest on any Security, the Trustee may withhold the
notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of the Holders of
the Securities of that series.

 

Section 7.06         Reports by Trustee to Holders of the
Securities.

 

(a)           Within 120 days
after the end of each fiscal year beginning with the end of the fiscal year
following the date of this Indenture, and for so long as Securities of any
series remain Outstanding, the Trustee will mail to all Holders of the Securities
of that series a brief report dated as of such reporting date that complies
with TIA § 313(a) (but if no event described in TIA § 313(a) has
occurred within the twelve months preceding the reporting date, no report need
be transmitted).  The Trustee also will
comply with TIA § 313(b)(2).  The Trustee
will also transmit by mail all reports as required by TIA § 313(c).

 

(b)           A copy of each
report at the time of its mailing to the Holders of Securities will be mailed
by the Trustee to the Company and filed by the Trustee with the Commission and
each stock exchange on which such Securities are listed in accordance with TIA
§ 313(d).  The Company will promptly
notify the Trustee when the Securities of any series are listed on any stock
exchange.

 

Section 7.07         Compensation and Indemnity.

 

(a)           The Company will pay
to the Trustee from time to time reasonable compensation as agreed upon between
the Trustee and the Company for its acceptance of this Indenture and services
hereunder.  The Trustee’s compensation
will not be limited by any law on compensation of a trustee of an express
trust.  The Company will reimburse the
Trustee promptly upon written request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation
for its services (including the reasonable compensation, disbursements and
expenses of the Trustee’s agents and counsel), except any such disbursement, 

 

38

 

advances
and expenses as shall be determined to have been caused by the Trustee’s own
negligence, bad faith or willful misconduct.

 

(b)           The Company will
indemnify the Trustee against any and all losses, liabilities or expenses
incurred by it arising out of or in connection with the acceptance or administration
of its duties under this Indenture, including the costs and expenses of
enforcing this Indenture against the Company (including this Section 7.07)
and defending itself against any claim (whether asserted by the Company or any
Holder or any other Person) or liability in connection with the exercise or
performance of any of its powers or duties hereunder, except to the extent any
such loss, liability or expense may be attributable to its negligence, bad
faith, or willful misconduct.  The
Trustee will notify the Company in writing promptly of any claim for which it
may seek indemnity.  Failure by the
Trustee to so notify the Company will not relieve the Company of its
obligations hereunder.  The Company will
defend the claim and the Trustee will cooperate in the defense.  The Trustee may have separate counsel and the
Company will pay the reasonable fees and expenses of such counsel.  The Company need not pay for any settlement made
without its consent.

 

(c)           The obligations of
the Company under this Section 7.07 will survive the satisfaction and
discharge of this Indenture.

 

(d)           To secure the
Company’s payment obligations in this Section 7.07, the Trustee will have
a Lien prior to the Securities of any series on all money or property held or
collected by the Trustee, except that held in trust to pay principal and
interest on particular Securities of any series.  Such Lien will survive the satisfaction and
discharge of this Indenture.

 

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

 

(f)            The Trustee will
comply with the provisions of TIA § 313(b)(2) to the extent applicable.

 

Section 7.08         Replacement of Trustee.

 

(a)           A resignation or
removal of the Trustee and appointment of a successor Trustee will become
effective only upon the successor Trustee’s acceptance of appointment as
provided in this Section 7.08.

 

(b)           The Trustee may
resign with respect to the Securities of one or more series in writing at any
time and be discharged from the trust hereby created by so notifying the
Company.  The Holders of a majority in
aggregate principal amount of the then Outstanding Securities of any series may
remove the Trustee with respect to the Securities of that series by so
notifying the Trustee and the Company in writing.  The Company may remove the Trustee if:

 

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

 

39

 

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

 

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

 

(4)           the Trustee becomes incapable of
acting.

 

(c)           If the Trustee
resigns, is removed, is incapable of acting or if a vacancy exists in the
office of Trustee for any reason with respect to the Securities of one or more
series, the Company, by Board Resolution, will promptly appoint a successor
Trustee or Trustees with respect to the Securities of that or those
series.  Within one year after the
successor Trustee or Trustees with respect to the Securities of any series
takes office, the Holders of a majority in aggregate principal amount of the
then Outstanding Securities of that series may appoint a successor Trustee with
respect to the Securities of that series to replace the successor Trustee
appointed by the Company.

 

(d)           If a successor
Trustee with respect to the Securities of any series does not take office
within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee, the Company, or the Holders of at least 10% in aggregate principal
amount of the then Outstanding Securities of that series may petition any court
of competent jurisdiction for the appointment of a successor Trustee with
respect to Securities of that series.

 

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

 

(f)            In case of the
appointment hereunder of a successor Trustee with respect to all Securities,
every such successor Trustee will deliver a written acceptance of its
appointment to the retiring Trustee and to the Company.  Thereupon, the resignation or removal of the
retiring Trustee will become effective, and the successor Trustee will have all
the rights, powers and duties of the Trustee under this Indenture without any
further act, deed or conveyance.  The
successor Trustee will mail a notice of its succession to Holders.  The retiring Trustee will promptly transfer
all property held by it as Trustee to the successor Trustee, provided all sums
owing to the Trustee hereunder have been paid and subject to the Lien provided
for in Section 7.07 hereof. 
Notwithstanding replacement of the Trustee pursuant to this
Section 7.08, the Company’s obligations under Section 7.07 hereof
will continue for the benefit of the retiring Trustee.

 

(g)           In case of the
appointment hereunder of a successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and each
successor Trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto, pursuant to
Article 9 hereof, wherein each successor Trustee shall accept such
appointment and which (1) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each
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, (2) if the retiring
Trustee is not retiring 

 

40

 

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 (3) shall add to or change any
of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee,
it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such Trustee
shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee; 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 and each 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 or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all 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.

 

(h)           Upon
request of any such successor Trustee, the Company 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
(f) and (g) of this Section, as the case may be.

 

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

 

Section 7.09         Successor Trustee by Merger, etc.

 

If the
Trustee consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the
successor corporation without any further act will be the successor Trustee, provided such corporation shall be otherwise qualified and
eligible under this Article, without the execution or filing of any paper or
any further act on the part of the parties hereto.

 

Section 7.10         Eligibility; Disqualification.

 

There
will at all times be a Trustee hereunder that is a corporation organized and
doing business under the laws of the United States of America or of any state
thereof that is authorized under such laws to exercise corporate trustee power,
that is subject to supervision or examination by federal or state authorities
and that has a combined capital and surplus of at least $100 million as set
forth in its most recent published annual report of condition.

 

This
Indenture will always have a Trustee who satisfies the requirements of TIA
§ 310(a)(1), (2) and (5).  The
Trustee is subject to TIA § 310(b).

 

41

 

Section 7.11         Preferential Collection of Claims
Against the Company.

 

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

 

ARTICLE  8

 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.01                            Applicability of Article; Option to Effect Legal
Defeasance or Covenant Defeasance.

 

If,
pursuant to Section 2.02, provision is made for either or both of (a) defeasance
of the Securities of or within a series under Section 8.02 or (b) covenant
defeasance of the Securities of or within a series under Section 8.03,
then the provisions of such Section or Sections, as the case may be,
together with the other provisions of this Article (with such
modifications thereto as may be specified pursuant to Section 2.02 with
respect to any Securities), shall be applicable to such Securities, and the
Company may at its option by Board Resolution, at any time, with respect to
such Securities, elect to have Section 8.02 (if applicable) or
Section 8.03 (if applicable) be applied to such Outstanding Securities
upon compliance with the conditions set forth below in this Article.

 

Section 8.02         Legal Defeasance and Discharge.

 

Upon
the Company’s exercise under Section 8.01 hereof of the option applicable
to this Section 8.02 with respect to any Outstanding Securities of or
within a series, the Company will, subject to the satisfaction of the
conditions set forth in Section 8.04, be deemed to have been discharged
from its obligations with respect to all such Outstanding Securities on the
date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”).  For this purpose,
Legal Defeasance means that the Company will be deemed to have paid and
discharged the entire Debt represented by such Outstanding Securities, which
will thereafter be deemed to be “Outstanding” only for the purposes of
Section 8.05 hereof and the other Sections of this Indenture referred to
in clauses (1) and (2) below, and to have satisfied all its other
obligations under such Securities and this Indenture (and the Trustee, on
demand of and at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following provisions which will survive
until otherwise terminated or discharged hereunder:

 

(1)           the rights of Holders of such
Outstanding Securities to receive payments in respect of the principal of, or
interest or premium and Additional Amounts, if any, on such Securities when
such payments are due from the trust referred to in Section 8.04 hereof;

 

(2)           the Company’s obligations with
respect to such Securities under Article 2 and Section 4.02 hereof;

 

(3)           the rights, powers, trusts, duties
and immunities of the Trustee hereunder and the Company’s obligations in
connection therewith; and

 

42

 

(4)           this Article 8.

 

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

 

Section 8.03         Covenant Defeasance.

 

Upon
the Company’s exercise under Section 8.01 hereof of the option applicable
to this Section 8.03 with respect to any Outstanding Securities of or
within a series, the Company will, subject to the satisfaction of the
conditions set forth in Section 8.04, be released from each of its
obligations under the covenants contained in Sections 4.03, 4.04,
5.01(3) and, if specified as contemplated by Section 2.02, its
obligations under any other covenant, with respect to such Outstanding
Securities on and after the date the conditions set forth in Section 8.04
hereof are satisfied (hereinafter, “Covenant
Defeasance”), and such Securities will thereafter be deemed not “Outstanding”
for the purposes of any direction, waiver, consent or declaration or act of
Holders (and the consequences of any thereof) in connection with such
covenants, but will continue to be deemed “Outstanding” for all other purposes
hereunder.  For this purpose, Covenant
Defeasance means that, with respect to the Outstanding Securities, the Company
may omit to comply with and will have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly,
by reason of any reference elsewhere herein to any such covenant or by reason
of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply will not constitute a Default or an
Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture and such Securities will be unaffected
thereby.  In addition, upon the Company’s
exercise under Section 8.01 hereof of the option applicable to this
Section 8.03 with respect to any Outstanding Securities of or within a
series, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, Sections 6.01(4), 6.01(5), insofar as it relates to
the obligations under the covenants from which the Company has been released,
and 6.01(6) hereof will not constitute Events of Default in respect of
such Securities.

 

Section 8.04         Conditions to Legal or Covenant
Defeasance.

 

In
order to exercise either Legal Defeasance or Covenant Defeasance under either
Section 8.02 or 8.03 hereof with respect to any Outstanding Securities of
or within a series:

 

(1)           the Company irrevocably deposits with
the Trustee for the Securities of that series, in trust, for the benefit of the
Holders, money in such currency or currencies, or currency unit or currency
units, in which such Security is then specified as payable at maturity,
non-callable Government Obligations applicable to such Securities (determined
on the basis of the currency or currencies, or currency unit or currency units,
in which such Securities are then specified as payable at maturity), or any
combination thereof, in such amounts as will be sufficient, in the opinion of a
nationally recognized firm of independent public accountants, to pay the
principal of (including any sinking fund payment or analogous payments
applicable to such Outstanding Securities), premium and Additional Amounts, if
any, and interest on such Outstanding Securities on the stated date for payment
thereof or on the applicable redemption date, as the case may be;

 

43

 

(2)           in the case of an election under
Section 8.02 hereof, the Company has delivered to the Trustee for the
Securities of that series an Opinion of Counsel in the United States reasonably
acceptable to such Trustee confirming that:

 

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

 

(ii)           since the date of
this Indenture, there has been a change in the applicable federal income tax
law,

 

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

 

(3)           in the case of an election under
Section 8.03 hereof, the Company must deliver to such Trustee for
Securities of that series an Opinion of Counsel in the United States reasonably
acceptable to such Trustee confirming that the Holders of such Outstanding
Securities will not recognize income, gain or loss for federal income tax
purposes as a result of such Covenant Defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Covenant Defeasance had not occurred;

 

(4)           no Default or Event of Default shall
have occurred in respect of Securities of that series and be continuing on the
date of such deposit (other than a Default or Event of Default in respect of
that series resulting from the borrowing of funds to be applied to such deposit);

 

(5)           such Legal Defeasance or Covenant
Defeasance will not result in a breach or violation of, or constitute a default
under, any material agreement or instrument (other than this Indenture in
respect of Securities of that series) to which the Company or any of its
Subsidiaries is a party or by which the Company or any of its Subsidiaries is
bound;

 

(6)           the Company must deliver to the
Trustee for Securities of that series an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders
of such Securities over the other creditors of the Company with the intent of
defeating, hindering, delaying or defrauding any other creditors of the Company
or others;

 

(7)           the Company must deliver to the
Trustee for Securities of that series an Officers’ Certificate and an Opinion
of Counsel, each stating that all conditions precedent provided for or relating
to the Legal Defeasance or the Covenant Defeasance, as applicable, have been
complied with; and

 

(8)           notwithstanding any other provisions
of this Section, such Legal Defeasance or Covenant Defeasance shall be effected
in compliance with any additional 

 

44

 

or substitute terms, conditions or limitations which
may be imposed on the Company in connection therewith pursuant to
Section 2.02.

 

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

 

Subject
to Section 8.06 hereof, all money, Government Obligations or other
property as may be provided pursuant to Section 2.02 (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 8.05, the “Trustee”) pursuant to
Section 8.04 in respect of any Outstanding Securities of any series will
be held in trust and applied by such Trustee, in accordance with the provisions
of such Securities and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as Paying Agent) as such
Trustee may determine, to the Holders of such Securities of all sums due and to
become due thereon in respect of principal, premium and Additional Amounts, if
any, and interest, but such money need not be segregated from other funds
except to the extent required by law.

 

The
Company will pay and indemnify such Trustee against any tax, fee or other
charge imposed on or assessed against the money or non-callable Government
Obligations deposited pursuant to Section 8.04 or the principal and interest
received in respect thereof other than any such tax, fee or other charge which
by law is for the account of the Holders of such Outstanding Securities.

 

Notwithstanding
anything in this Article 8 to the contrary, such Trustee will deliver or
pay to the Company from time to time upon the request of the Company any money
or non-callable Government Obligations held by it as provided in
Section 8.04 hereof which, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof
delivered to such Trustee (which may be the opinion delivered under
Section 8.04(1)), are in excess of the amount thereof that would then be
required to be deposited to effect an equivalent Legal Defeasance or Covenant
Defeasance.

 

Section 8.06         Repayment to the Company.

 

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, premium or Additional
Amounts, if any, or interest on any Security and remaining unclaimed for two
years after such principal, premium or Additional Amounts, if any, or interest
has become due and payable shall be paid to the Company on its request or (if
then held by the Company) will be discharged from such trust; and the Holder of
such Security will thereafter be permitted to look only to the Company 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, will thereupon cease; provided,
however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once, in an Authorized Newspaper,
notice that such money remains unclaimed and that, after a date specified
therein, which will not be less than 30 days from the date of such notification
or publication, any unclaimed balance of such money then remaining will be
repaid to the Company.

 

45

 

Section 8.07         Reinstatement.

 

(a)           If
the Trustee or Paying Agent is unable to apply any money or non-callable
Government Obligations deposited in respect of Securities of or within a series
in accordance with Section 8.02 or 8.03, as the case may be, by reason of
any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Company’s
obligations under this Indenture and such Securities will be revived and
reinstated as though no deposit had occurred pursuant to Section 8.02 or
8.03 hereof until such time as the Trustee or Paying Agent is permitted to
apply all such money in accordance with Section 8.02 or 8.03 hereof, as
the case may be; provided, however, that unless otherwise provided in
the Board Resolution or indenture supplemental hereto pursuant to which such
Securities shall have been issued, the principles set forth in paragraphs (b) and
(c) of this Section 8.07 shall apply following such reinstatement; provided further, however, that if the Company makes any
payment of principal of, premium or Additional Amounts, if any, or interest on
any Security following the reinstatement of its obligations, the Company will
be subrogated to the rights of the Holders of such Securities to receive such
payment from the money held by the Trustee or Paying Agent.

 

(b)           If
the Company’s obligations under this Indenture are reinstated as provided in Section 8.07(a),
such reinstatement shall be deemed to have occurred as of the date of the
deposit of money or non-callable Government Obligations with the Trustee or the
Paying Agent as provided in Section 8.02 or 8.03 except that no Default
will be deemed to have occurred solely by reason of a breach while any such
obligation was suspended.

 

(c)           Neither
(1) the continued existence following the reinstatement of the
foregoing obligations of facts and circumstances or obligations that were
incurred or otherwise came into existence while the foregoing obligations were
suspended nor (2) the performance of any such obligations,
including the consummation of any transaction pursuant to, and on materially
the same terms as, a contractual agreement in existence prior to the
reinstatement of the foregoing obligations, shall constitute a breach of any
such obligations or cause a Default or Event of Default in respect thereof; provided, however, that (A) the Company and its
Subsidiaries did not incur or otherwise cause such facts and circumstances or
obligations to exist in anticipation of the reinstatement of the foregoing
obligations and (B) the Company and its Subsidiaries did not
reasonably believe that such incurrence or actions would result in such
reinstatement.  For purposes of clause (2) above,
any increase in the consideration to be paid prior to such amendment or
modification to the terms of an existing obligation following the reinstatement
of the foregoing obligations that does not exceed 10% of the consideration that
was to be paid prior to such amendment or modification shall not be deemed a
“material” amendment or modification. 
For purposes of clauses (A) and (B) above, anticipation and
reasonable belief may be determined by the Company and shall be conclusively
evidenced by a Board Resolution to such effect.

 

46

 

ARTICLE  9

 

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section 9.01         Without Consent of Holders of
Securities.

 

Notwithstanding
Section 9.02 of this Indenture, the Company and the Trustee may amend or
supplement this Indenture or the Securities without the consent of any Holder
of a Security:

 

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

 

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

 

(3)           to provide for the assumption of the
Company’s obligations to Holders of Securities in the case of a merger or
consolidation or sale of all or substantially all of the Company’s assets;

 

(4)           to add to the covenants of the
Company for the benefit of the Holders of all or any series of Securities (and
if such covenants are to be for the benefit of less than all series of
Securities, stating that such covenants are expressly being included solely for
the benefit of that series) or to surrender any right or power herein conferred
upon the Company;

 

(5)           to add any additional Events of
Default for the benefit of the Holders of all or any series of Securities (and
if such Events of Default are to be for the benefit of less than all series of
Securities, stating that such Events of Default are expressly being included solely
for the benefit of that series); provided, however, that in respect of any such additional Events of
Default such supplemental indenture may provide for a particular period of
grace after default (which period may be shorter or longer than that allowed in
the case of other defaults) or may provide for an immediate enforcement upon
such default or may limit the remedies available to the Trustee upon such
default or may limit the right of the Holders of a majority in aggregate
principal amount of that or those series of Securities to which such additional
Events of Default apply to waive such default;

 

(6)           to change or eliminate any of the
provisions of this Indenture, provided that
any such change or elimination shall become effective only when there is no
Security outstanding of any series created prior to the execution of such
supplemental indenture which is entitled to the benefit of such provision;

 

(7)           to establish the form or terms of
Securities of any series as permitted by Sections 2.01 and 2.02, including the
provisions and procedures relating to Securities convertible into Capital Stock
of the Company;

 

(8)           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 

 

47

 

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;

 

(9)           to supplement any of the provisions
of this Indenture to such extent as shall be necessary to permit or facilitate
the defeasance and discharge of any series of Securities pursuant to Sections
8.02, 8.03 and 10.01, provided that
any such action shall not adversely affect the interests of the Holders of
Securities of that series or any other series of Securities in any material
respect;

 

(10)         to secure the Securities;

 

(11)         to make any other change that would
provide any additional rights or benefits to the Holders of Securities or that
does not adversely affect the legal rights under this Indenture of any such
Holder; or

 

(12)         to comply with requirements of the
Commission in order to effect or maintain the qualification of this Indenture
under the TIA.

 

Section 9.02         With Consent of Holders of Securities.

 

Except
as provided below in this Section 9.02, the Company and the Trustee may
amend or supplement this Indenture and the Securities with the consent of the
Holders of at least a majority in aggregate principal amount of the then
Outstanding Securities affected by such amendment or supplemental indenture
voting as a single class (including, without limitation, consents obtained in
connection with a tender offer or exchange offer for, or purchase of, the
Securities), and, subject to Sections 6.04 and 6.07 hereof, any existing
Default or Event of Default (other than a Default or Event of Default in the
payment of the principal of, premium or Additional Amounts, if any, or interest
on the Securities, except a payment default resulting from an acceleration that
has been rescinded) or compliance with any provision of this Indenture or the
Securities may be waived generally or in a particular instance with the consent
of the Holders of a majority in aggregate principal amount of the then
Outstanding Securities affected thereby voting as a single class (including
consents obtained in connection with a tender offer or exchange offer for, or
purchase of, the Securities).

 

However,
without the consent of the Holder of each Outstanding Security affected
thereby, an amendment or waiver under this Section 9.02 may not (with
respect to any Securities held by a non-consenting Holder):

 

(1)           reduce the principal amount of
Securities of any series whose Holders must consent to an amendment, supplement
or waiver;

 

(2)           change the stated maturity of the
principal of, or any installment of principal of or interest on, any Security,
or reduce the principal amount thereof or the rate of interest thereon or any
premium payable upon the redemption thereof, or reduce the amount of the
principal of an Original Issue Discount Security that would be due and payable
upon a declaration of acceleration of the maturity thereof pursuant to Section 6.02,
or adversely affect any right of repayment at the option of the Holder of any
Security, or reduce the amount of, or postpone the date fixed for, the payment
of any 

 

48

 

sinking fund or analogous obligation, 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), in each case other than the amendment or waiver in accordance
with the terms of this Indenture of any covenant or related definition included
pursuant to Section 2.02 that provides for an offer to repurchase any
Securities of a series upon a sale of assets or change of control transaction;

 

(3)           waive a Default or Event of Default
in the payment of principal of, or interest or premium, or Additional Amounts,
if any, on the Securities of any series (except a rescission of acceleration of
the Securities of that series by the Holders of at least a majority in
aggregate principal amount of the Securities of that series then Outstanding and
a waiver of the payment Default that resulted from such acceleration);

 

(4)           make any Security payable in a
currency or currencies or currency unit or currency units other than that
stated in the Securities;

 

(5)           make any change in Section 6.04
or 6.07 hereof relating to waivers of past Defaults or the rights of Holders of
Securities to receive payments of principal of, or interest or premium or
Additional Amounts, if any, on the Securities;

 

(6)           impair the rights of Holders to
convert their Securities, if convertible, upon the terms established pursuant
to or in accordance with the provisions of this Indenture; or

 

(7)           make any change in the amendment and
waiver provisions set forth in clauses (1) through (6) of this Section 9.02.

 

Section 2.09
hereof shall determine which Securities are considered to be “Outstanding” for
purposes of this Section 9.02.

 

A
supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly been included solely for the benefit
of Holders of one or more particular series of Securities, or which modifies
the rights of the Holders of Securities of that 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.

 

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

 

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

 

49

 

Section 9.03         Compliance with Trust Indenture Act.

 

Every
amendment or supplement to this Indenture or the Securities will be set forth
in an amended or supplemental indenture that complies with the TIA as then in
effect.

 

Section 9.04         Revocation and Effect of Consents.

 

Until
an amendment, supplement or waiver becomes effective, a consent to it by a
Holder of a Security is a continuing consent by the Holder of a Security and
every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security, even if notation of the
consent is not made on any Security. 
However, any such Holder of a Security or subsequent Holder of a
Security may revoke the consent as to its Security if the Trustee receives
written notice of revocation before the date the waiver, supplement or
amendment becomes effective.  An
amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder.

 

Section 9.05         Notation on or Exchange of Securities.

 

The
Trustee may place an appropriate notation about an amendment, supplement or
waiver on any Outstanding Security thereafter authenticated.  The Company in exchange for all Outstanding
Securities of a series may issue and the Trustee shall, upon receipt of an
Authentication Order, authenticate new Securities of that series that reflect
the amendment, supplement or waiver.

 

Failure
to make the appropriate notation or issue a new Security of that series will
not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.06         Trustee to Sign Amendments, etc.

 

Upon
the request of the Company accompanied by Board Resolutions authorizing the
execution of any amended or supplemental indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Securities as aforesaid, and upon receipt by the Trustee of the
documents described in Section 7.02 hereof, the Trustee will join with the
Company in the execution of an amended or supplemental indenture unless such
amended or supplemental indenture directly affects the Trustee’s own rights,
duties, liabilities or immunities under this Indenture or otherwise, in which
case the Trustee may in its discretion, but will not be obligated to, enter
into such amended or supplemental indenture. 
In executing any amended or supplemental indenture, the Trustee will be
entitled to receive and (subject to Section 7.01 hereof) will be fully
protected in relying upon, in addition to the documents required by Section 12.04
hereof, an Officers’ Certificate and an Opinion of Counsel stating that the
execution of such amended or supplemental indenture is authorized or permitted
by this Indenture.

 

50

 

ARTICLE  10

 

SATISFACTION AND DISCHARGE

 

Section 10.01       Satisfaction and Discharge.

 

This
Indenture will be discharged and will cease to be of further effect as to any
series of Securities issued hereunder (except as to any surviving rights of
registration of transfer or exchange of Securities of that series herein
expressly provided for and the right to receive Additional Amounts), when:

 

(1)           either:

 

(A)          all Securities of that series that
have been authenticated (except lost, stolen or destroyed Securities that have
been replaced or paid and Securities for whose payment money has theretofore
been deposited in trust and thereafter repaid to the Company) have been
delivered to the Trustee for cancellation; or

 

(B)           all Securities of that series that
have not been delivered to the Trustee for cancellation have become due and
payable by reason of the making of a notice of redemption or otherwise or will
become due and payable within one year and the Company has irrevocably
deposited or caused to be deposited with the Trustee for Securities of that
series as trust funds in trust solely for the benefit of the Holders, money in
such currency or currencies, or currency unit or currency units, in which such
Securities are then specified as payable at maturity, non-callable Government
Obligations applicable to such Securities (determined on the basis of the
currency or currencies, or currency unit or currency units, in which such
Securities are then specified as payable at maturity), or a combination
thereof, in such amounts as will be sufficient without consideration of any
reinvestment of interest, to pay and discharge the entire indebtedness on such
Securities not delivered to the Trustee for cancellation for principal, premium
and Additional Amounts, if any, and accrued interest to the date of maturity or
redemption;

 

(2)           no Default or Event of Default with
respect to the Securities of that series has occurred and is continuing on the
date of such deposit or will occur as a result of such deposit and such deposit
will not result in a breach or violation of, or constitute a default under, any
other instrument to which the Company is a party or by which the Company is
bound;

 

(3)           the Company has paid or caused to be
paid all sums payable by it under this Indenture with respect to the Securities
of that series; and

 

(4)           the Company has delivered irrevocable
instructions to the Trustee for Securities of that series, to apply the money
on deposit in the trust referred to in subclause (B) of clause (1) above
toward the payment of such Securities at maturity or on the redemption date, as
the case may be.

 

51

 

In
addition, the Company must deliver an Officers’ Certificate and an Opinion of
Counsel to the Trustee for Securities of that series stating that all
conditions precedent to satisfaction and discharge have been satisfied.

 

Notwithstanding
the satisfaction and discharge of this Indenture in respect of Securities of a
series, if money has been deposited with the Trustee pursuant to subclause (B) of
clause (1) of this Section, the provisions of Section 10.02 and Section 8.06
will survive.  In addition, nothing in
this Section 10.01 will be deemed to discharge those provisions of Section 7.07
that, by their terms, survive the satisfaction and discharge of this Indenture.

 

Section 10.02       Application of Trust Money.

 

Subject
to the provisions of Section 8.06, all money deposited with the Trustee in
respect of any Securities pursuant to Section 10.01 shall be held in trust
and applied by it, in accordance with the provisions of such Securities 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 (and premium, if
any) and interest and Additional Amounts for whose payment such money has been
deposited with the Trustee; but such money need not be segregated from other
funds except to the extent required by law and Section 2.05.

 

If the
Trustee or Paying Agent is unable to apply any money or Government Obligations
in accordance with Section 10.01 in respect of any Securities by reason of
any legal proceeding or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s obligations under this Indenture and such Securities
shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01
and the provisions of Section 8.07 shall apply to the extent provided
therein.

 

ARTICLE  11

 

MISCELLANEOUS

 

Section 11.01       Trust Indenture Act Controls.

 

If any
provision of this Indenture limits, qualifies or conflicts with the duties
imposed by TIA § 318(c), the imposed duties will control.

 

Section 11.02       Notices.

 

Any
notice or communication by the Company or the Trustee to the others is duly
given if in writing in the English language and delivered in Person or mailed
by first class mail (registered or certified, return receipt requested), telex,
telecopier or overnight air courier guaranteeing next day delivery, to the
others’ address:

 

52

 

If to
the Company:

 

	
   

  	
  c/o Toreador Holding
  SAS

  
	
   

  	
  9 rue Scribe

  
	
   

  	
  75009 Paris, France

  
	
   

  	
  Telecopier No.: 33 (0)
  1 47 03 33 71

  
	
   

  	
  Attention: Chief Executive Officer

  

 

With a copy to:

 

	
   

  	
  Willkie Farr & Gallagher LLP

  
	
   

  	
  21-23 rue de la Ville l’Evêque

  
	
   

  	
  75008 Paris, France

  
	
   

  	
  Telecopier No.: 33 (0) 1 40 06 9606

  
	
   

  	
  Attention: Laurent Faugérolas

  

 

If to the Trustee:

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

The
Company or the Trustee, by notice to the others may designate additional or
different addresses for subsequent notices or communications.

 

All
notices and communications (other than those sent to Holders) will be deemed to
have been duly given: at the time delivered by hand, if personally delivered;
five Business Days after being deposited in the mail, postage prepaid, if
mailed; when receipt acknowledged, if telecopied; and the next Business Day
after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery.

 

Any
notice or communication to a Holder will be mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier
guaranteeing next day delivery to its address shown on the register kept by the
Registrar.  Any notice or communication
will also be so mailed to any Person described in TIA § 313(c), to the extent
required by the TIA.  Failure to mail a
notice or communication to a Holder or any defect in it will not affect its
sufficiency with respect to other Holders.

 

If a
notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

 

If the
Company mails a notice or communication to Holders, it will mail a copy to the
Trustee and each Agent at the same time.

 

53

 

Section 11.03       Communication by Holders of Securities
with Other Holders of Securities.

 

Holders
may communicate pursuant to TIA § 312(b) with other Holders with
respect to their rights under this Indenture or the Securities.  The Company, the Trustee, the Registrar and
anyone else shall have the protection of TIA § 312(c).

 

Section 11.04       Certificate and Opinion as to Conditions
Precedent.

 

Upon
any request or application by the Company to the Trustee to take any action
under this Indenture, the Company shall furnish to the Trustee:

 

(1)           an Officers’ Certificate in form and
substance reasonably satisfactory to the Trustee (which must include the
statements set forth in Section 11.05 hereof) stating that, in the opinion
of the signers, all conditions precedent and covenants, if any, provided for in
this Indenture relating to the proposed action have been satisfied; and

 

(2)           an Opinion of Counsel in form and substance
reasonably satisfactory to the Trustee (which must include the statements set
forth in Section 11.05 hereof) stating that, in the opinion of such
counsel, all such conditions precedent and covenants have been satisfied.

 

Notwithstanding
the foregoing, in the case of any such request or application as to which the
furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular request or application, no additional
certificate or opinion need be furnished unless specifically required.

 

Section 11.05       Statements Required in Certificate or
Opinion.

 

Each
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than a certificate provided pursuant to
TIA § 314(a)(4)) must comply with the provisions of TIA § 314(e) and must
include:

 

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

 

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

 

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

 

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

 

54

 

Section 11.06       Rules by Trustee and Agents.

 

The
Trustee may make reasonable rules for action by or at a meeting of
Holders.  The Registrar or Paying Agent
may make reasonable rules and set reasonable requirements for its
functions.

 

Section 11.07       No Personal Liability of Directors,
Officers, Employees and Stockholders.

 

No
director, officer, employee or stockholder of the Company or any of its
Subsidiaries, as such, will have any liability for any obligations of the
Company or any of its Subsidiaries under the Securities or this Indenture based
on, in respect of, or by reason of such obligations or their creation. Each
holder by accepting a Security waives and releases all such liability. The
foregoing waiver and release are an integral part of the consideration for the
issuance of the Securities.

 

Section 11.08       Governing Law.

 

THE
INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS
INDENTURE, THE SECURITIES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

 

Section 11.09       No Adverse Interpretation of Other
Agreements.

 

This
Indenture may not be used to interpret any other indenture, loan or debt agreement
of the Company or its Subsidiaries or of any other Person.  Any such indenture, loan or debt agreement
may not be used to interpret this Indenture.

 

Section 11.10       Successors.

 

All
agreements of the Company in this Indenture and the Securities will bind its
successors.  All agreements of the
Trustee in this Indenture will bind its successors.

 

Section 11.11       Severability.

 

In
case any provision in this Indenture or in the Securities is invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

 

Section 11.12       Counterpart Originals.

 

The
parties may sign any number of copies of this Indenture.  Each signed copy will be an original, but all
of them together represent the same agreement.

 

55

 

Section 11.13       Table of Contents, Headings, etc.

 

The
Table of Contents, Cross-Reference Table and Headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference
only, are not to be considered a part of this Indenture and will in no way
modify or restrict any of the terms or provisions hereof.

 

Section 11.14       Benefits of Indenture.

 

Nothing
in this Indenture or the Securities express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder and the
Holders, any benefit or an legal or equitable right, remedy or claim under this
Indenture.

 

Section 11.15       Legal Holidays.

 

In any
case where any Interest Payment Date, redemption date, purchase date or stated
maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of such Security
(other than a provision of such Security which specifically states that such
provision shall apply in lieu of this Section)) payment of interest or
principal (and premium, if any) need not be made at such Place of Payment on
such date, but may be made on the next succeeding Business Day at such Place of
Payment with the same force and effect as if 
made on the Interest Payment Date, redemption date or purchase date, or
at the stated maturity, and no interest shall accrue for the intervening
period.

 

Section 11.16       Acts of Holders.

 

(a)           Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of the
Outstanding Securities of all series or one or more series, as the case may be,
may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders in person or by agents duly appointed in
writing.  Except as herein otherwise
expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company.  Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “act” of the Holders signing
such instrument or instruments.  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 conclusive in favor of the Trustee and the Company and
any agent of the Trustee or the Company, if made in the manner provided in this
Section.

 

(b)           The
fact and date of the execution of any such instrument or writing, or the
authority of the Person executing the same, may be proved in any reasonable
manner which the Trustee deems sufficient.

 

(c)           The
ownership of Securities shall be proved by the register maintained by the
Registrar.

 

56

 

(d)           If
the Company shall solicit from the Holders of Securities any request, demand,
authorization, direction, notice, consent, waiver or other act, the Company
may, at its option, in or pursuant to a Board Resolution, fix in advance a
record date for the determination of Holders entitled to give such request,
demand, authorization, direction, notice, consent, waiver or other act, but the
Company shall have no obligation to do so. 
Notwithstanding TIA Section 316(c), such record date shall be the
record date specified in or pursuant to such Board Resolution, which shall be a
date not earlier than the date 30 days prior to the first solicitation of
Holders generally in connection therewith and not later than the date such
solicitation is completed.  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 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 on such record date
shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than eleven months after the record
date.

 

(e)           Any
request, demand, authorization, direction, notice, consent, waiver or other act
of 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, omitted or suffered to be done by the Trustee, any Registrar,
any Paying Agent, any authenticating agent or the Company in reliance thereon,
whether or not notation of such action is made upon such Security.

 

SIGNATURES

 

	
  Dated as of
                  ,
  20

  	
   

  
	
   

  	
   

  
	
   

  	
  Toreador Resources
  Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TRUSTEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

57

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