Document:

Exhibit 10.1

 

EXECUTION
COPY

 

AMENDMENT NO. 1, dated as of
June 19, 2009 (this “Amendment”),
to the Second Amended and Restated Credit Agreement dated as of August 23,
2006, as amended and restated on January 29, 2007, and as further amended
and restated on May 23, 2007 (the  “Credit Agreement”), among TRAVELPORT
LLC, a Delaware limited liability company (the “Borrower”),
TRAVELPORT LIMITED, a company incorporated under the laws of Bermuda (“Holdings”), UBS AG, STAMFORD BRANCH, as Administrative
Agent, Collateral Agent, L/C Issuer and Swing Line Lender, the lenders party
thereto, CREDIT SUISSE SECURITIES (USA) LLC, as Syndication Agent, and the
other parties thereto.

 

A.            Section 2.14 of the Credit
Agreement permits the Borrower to request the establishment of one or more
additional tranches of term loans under the Credit Agreement.

 

B.            The Borrower has requested, by
notice provided under Section 2.14 of the Credit Agreement, the Incremental
Term Loans C (as defined below), the proceeds of which will be used by the
Borrower for general corporate purposes and any other purpose permitted under
the Credit Agreement and the Senior Notes Indenture and the Senior Subordinated
Notes Indenture (each as defined below).

 

C.            Each of the persons set forth on
Schedule 1 hereto (an “Incremental Term Loan
C Lender”) is willing to provide an Incremental Term Loan C, on the
terms and subject to the conditions set forth herein.

 

Accordingly, in consideration of the mutual agreements herein contained
and other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.  Capitalized terms used but not defined in
this Amendment have the meanings assigned thereto in the Credit Agreement (where
the context so requires, after giving effect hereto).  The provisions of Section 1.02 of the
Credit Agreement are hereby incorporated by reference herein, mutatis  mutandis.

 

SECTION 2.  Incremental Term Loans C.  (a)  Subject to the terms and conditions
set forth herein and in the Credit Agreement, each Incremental Term Loan C
Lender severally agrees to make, on the Incremental Term Loan C Facility
Effective Date, to the Borrower a single loan denominated in Dollars in a
Dollar Amount equal to such Incremental Term Loan C Lender’s Incremental Term
Loan C Commitment; provided that,
notwithstanding anything to the contrary contained herein or in the Credit
Agreement (and without affecting any other provision hereof or thereof), the
funded portion of each Incremental Term Loan C to be made on the Incremental
Term Loan C Facility Effective Date (i.e.,
the amount advanced in cash to the Borrower on such date) shall be equal to 96.00%
of the principal amount of such Incremental Term Loan C (it being agreed that
the Borrower shall be obligated to repay 100.0% of the principal 

 

 

amount of such Incremental Term Loan C as
provided hereunder and under the Credit Agreement).  Amounts borrowed under this Section 2
and repaid and prepaid may not be reborrowed. 
Incremental Term Loans C (i) may be Base Rate Loans or Eurocurrency
Rate Loans, as provided in the Credit Agreement, (ii) shall rank pari
passu in right of payment and of security with the Revolving Credit Loans and
the other Term Loans and (iii) shall mature on the Maturity Date with
respect to the other Term Loans.

 

(b)  The funding of the
Incremental Term Loans C to be made hereunder shall be made in the manner
contemplated by Section 2.02(b) of the Credit Agreement.  If not drawn before 5:00 p.m., New York
City time on June 19, 2009, the Incremental Term Loan C Commitments shall
expire on such date and shall from and after such time be of no further force
or effect.  The Incremental Term Loan C
Commitment of each Incremental Term Loan C Lender shall automatically terminate
upon the making of such Lender’s Incremental Term Loan C pursuant to this Section 2.

 

SECTION 3.  Amendments to the Credit Agreement.  The Credit Agreement is hereby amended as
follows:

 

(a)  Section 1.01
of the Credit Agreement is hereby amended as follows:

 

(i)  The following definitions are
hereby added in the appropriate alphabetical order:

 

“Incremental
Amendment No. 1” means Amendment No. 1, dated as of June 17,
2009, to this Agreement.

 

“Incremental
Term Loan C Commitment” means, as to each Lender, its obligation to
make an Incremental Term Loan C to the Borrower pursuant to the Incremental Amendment
No. 1 denominated in Dollars in an aggregate Dollar Amount not to exceed
the amount set forth opposite such Lender’s name on Schedule 1 to the Incremental
Amendment No. 1.  The aggregate
amount of the Incremental Term Loan C Commitments is $150,000,000 as of the Incremental
Term Loan C Facility Effective Date.

 

“Incremental
Term Loan C Facility Arranger” means Credit Suisse Securities (USA)
LLC, as a joint bookrunner and joint lead arranger, with “left” placement, for
the Incremental Term Loan C Facility.

 

“Incremental
Term Loan C Facility Effective Date” has the meaning specified in
the Incremental Amendment No. 1.

 

“Incremental
Term Loan C Lender” means, at any time, any Lender that has an Incremental
Term Loan C Commitment or an Incremental Term Loan C at such time.

 

“Incremental Term
Loan C” means a Loan made pursuant to Section 2 of the Incremental
Amendment No. 1.

 

2

 

“Incremental Term
Loan C Note” means a promissory note of the Borrower payable to any Incremental
Term Loan C Lender or its registered assigns, in the form reasonably satisfactory
to the Administrative Agent and the Borrower, evidencing the aggregate
Indebtedness of the Borrower to such Incremental Term Loan C Lender resulting
from the Incremental Term Loan C made by such Incremental Term Loan C Lender.

 

(ii)  The definition of each of the
following terms in Section 1.01 of the Credit Agreement is hereby amended
to read in its entirety as follows:

 

“Class”
(a) when used with respect to Lenders, refers to whether such Lenders are
Dollar Revolving Credit Lenders, Alternative Currency Revolving Credit Lenders,
Tranche B Dollar Term Lenders, Euro Term Lenders, Incremental Term Loan C
Lenders or Post-First Amendment and Restatement Synthetic L/C Lenders, (b) when
used with respect to Commitments, refers to whether such Commitments are Dollar
Revolving Credit Commitments, Alternative Currency Revolving Credit
Commitments, Tranche B Dollar Term Commitments, Euro Term Commitments, Incremental
Term Loan C Commitments or Post-First Amendment and Restatement Synthetic L/C
Commitments and (c) when used with respect to Loans or a Borrowing, refers
to whether such Loans, or the Loans comprising such Borrowing, are Dollar
Revolving Credit Loans, Alternative Currency Revolving Credit Loans, Tranche B
Dollar Term Loans, Euro Term Loans, Incremental Term Loans C or Post-First
Amendment and Restatement Synthetic L/C Loans.

 

“Commitment”
means a Term Commitment, a Revolving Credit Commitment or a Post-First
Amendment and Restatement Synthetic L/C Commitment, as the context may require.

 

“Defaulting
Lender” means any Lender that (a) has failed to fund any
portion of the Tranche B Dollar Term Loans, Euro Term Loans, Incremental Term
Loans C, Revolving Credit Loans, participations in Revolving L/C Obligations or
participations in Swing Line Loans required to be funded by it hereunder within
one (1) Business Day of the date required to be funded by it hereunder,
unless the subject of a good faith dispute or subsequently cured, (b) has
otherwise failed to pay over to the Administrative Agent or any other Lender
any other amount required to be paid by it hereunder within one (1) Business
Day of the date when due, unless the subject of a good faith dispute or
subsequently cured, or (c) has been deemed insolvent or become the subject
of a bankruptcy or insolvency proceeding.

 

“Facility”
means the Tranche B Dollar Term Loans, the Euro Term Loans, the Incremental
Term Loans C, the Letter of Credit Facility, the Dollar Revolving Credit
Facility, the Alternative Currency Revolving Credit Facility or the Post-First
Amendment and Restatement Synthetic L/C Facility, as the context may require,
and are referred to collectively as the “Facilities”.

 

3

 

“Lender”
has the meaning specified in the introductory paragraph to this Agreement and,
as the context requires, includes, without limitation, any Delayed Draw Term
Lender, Incremental Term Loan C Lender, any Increased Original Dollar Revolving
Credit Lender, any New Dollar Revolving Credit Lender, an L/C Issuer and the
Swing Line Lender, and their respective successors and assigns as permitted
hereunder, each of which is referred to herein as a “Lender.”

 

“Loan”
means (a) an extension of credit by a Lender to a Borrower under Article II
in the form of a Tranche B Dollar Term Loan, a Euro Term Loan, a Revolving
Credit Loan, a Post-First Amendment and Restatement Synthetic L/C Loan or a
Swing Line Loan and (b) an extension of credit by a Lender to the Borrower
in the form of an Incremental Term Loan, including any Incremental Term Loan C.

 

“Note”
means a Tranche B Dollar Term Note, a Euro Term Note, an Incremental Term Loan
C Note, a Dollar Revolving Credit Note, an Alternative Currency Revolving
Credit Note or a Post-First Amendment and Restatement Synthetic L/C Note, as
the context may require.

 

“Outstanding Amount”
means (a) with respect to the Tranche B Dollar Term Loans, Euro Term
Loans, Incremental Term Loans (including Incremental Term Loans C), Revolving
Credit Loans, Post-First Amendment and Restatement Synthetic L/C Loans and
Swing Line Loans on any date, the Dollar Amount thereof after giving effect to
any borrowings and prepayments or repayments of Tranche B Dollar Term Loans,
Euro Term Loans, Incremental Term Loans (including Incremental Term Loans C), Revolving
Credit Loans (including any refinancing of outstanding Unreimbursed Amounts
under Revolving Letters of Credit or Revolving L/C Credit Extensions as a
Revolving Credit Borrowing), Post-First Amendment and Restatement Synthetic L/C
Loans and Swing Line Loans, as the case may be, occurring on such date; and (b) with
respect to any L/C Obligations on any date, the Dollar Amount thereof on such
date after giving effect to any related L/C Credit Extension occurring on such
date and any other changes thereto as of such date, including as a result of
any reimbursements of outstanding Unreimbursed Amounts under related Letters of
Credit (including any refinancing of outstanding Unreimbursed Amounts under
related Letters of Credit or related L/C Credit Extensions as a Revolving
Credit Borrowing or Post-First Amendment and Restatement Synthetic L/C
Borrowing, as the case may be) or any reductions in the maximum amount
available for drawing under related Letters of Credit taking effect on such
date.

 

“Request for Credit
Extension” means (a) with respect to a Borrowing, conversion or
continuation of Tranche B Dollar Term Loans, Euro Term Loans, Incremental Term
Loans C, Revolving Credit Loans, or Post-First Amendment and Restatement
Synthetic L/C Loans, a Committed Loan Notice, (b) 

 

4

 

with respect
to an L/C Credit Extension, a Letter of Credit Application, and (c) with
respect to a Swing Line Loan, a Swing Line Loan Notice.

 

“Required Lenders”
means, as of any date of determination, Lenders having more than 50% of the sum
of the (a) Total Outstandings (with the aggregate Dollar Amount of each
Lender’s risk participation and funded participation in Dollar L/C Obligations
and Swing Line Loans being deemed “held” by such Lender for purposes of this
definition), (b) aggregate unused Tranche B Dollar Term Commitments, (c) aggregate
unused Euro Term Commitments, (d) aggregate unused Incremental Term Loan C
Commitments, (e) aggregate unused Revolving Credit Commitments and (f) aggregate
Unused Post-First Amendment and Restatement Synthetic L/C Commitments; provided that the unused Tranche B Dollar
Term Commitment, unused Euro Term Commitment, unused Incremental Term Loan C
Commitments, unused Revolving Credit Commitment and Unused Post-First Amendment
and Restatement Synthetic L/C Commitment of, and the portion of the Total
Outstandings held or deemed held by, any Defaulting Lender or Holdings or any
Affiliate thereof shall be excluded for purposes of making a determination of
Required Lenders.

 

“Term Borrowing”
means a borrowing consisting of simultaneous Term Loans of the same Class, Type
and currency and, in the case of Eurocurrency Rate Loans, having the same
Interest Period made by each of the Term Lenders of the applicable Class pursuant
to Section 2.01 or, in the case of Incremental Term Loans C, the Incremental
Amendment No. 1.

 

“Term Commitments”
means the Original Tranche B Dollar Term Commitments, the Delayed Draw Term
Commitments, the Euro Term Commitments and the Incremental Term Loan C
Commitments.

 

“Term Lender”
means an Original Tranche B Dollar Term Lender, a Delayed Draw Term Lender, a
Euro Term Lender or an Incremental Term Loan C Lender, as the context may
require, and are referred to collectively as the “Term Lenders”.

 

“Term Loan”
means an Original Tranche B Dollar Term Loan, a Delayed Draw Term Loan, a Euro
Term Loan or an Incremental Term Loan C, as the context may require, and are
referred to collectively as the “Term Loans”.

 

“Term Note”
means an Original Tranche B Dollar Term Note, a Delayed Draw Term Note, a Euro
Term Note or an Incremental Term Loan C Note, as the context may require, and
are referred to collectively as the “Term Notes”.

 

(iii)  The definition of the term “Applicable
Rate” is hereby amended to replace the text set forth therein preceding the
table with the following:

 

5

 

“Applicable
Rate” means a percentage per annum equal to (a) with respect to
Incremental Term Loans C, (i) 7.50% in the case of Eurocurrency Rate Loans
and (ii) 6.50% in the case of Base Rate Loans, and (b) with respect
to Revolving Credit Loans, unused Revolving Credit Commitments, Revolving
Letter of Credit fees, Tranche B Dollar Term Loans, Euro Term Loans and
Post-First Amendment and Restatement Synthetic L/C facility fees, the following
percentages per annum, based upon the Total Leverage Ratio as set forth in the
most recent Compliance Certificate received by the Administrative Agent
pursuant to Section 6.02(b) (or, until the first such Compliance
Certificate is delivered hereunder, the most recent Compliance Certificate
received by the  Administrative Agent
pursuant to Section 6.02(b) of the First Amended and Restated Credit
Agreement):”.

 

(iv)  The definition of the term “Base
Rate” is hereby amended to add at the end thereof the following:

 

“Notwithstanding the foregoing, if the Base Rate determined as provided
above with respect to any Incremental Term Loan C for any day would be less
than 4.00% per annum, then the Base Rate with respect to such Incremental Term
Loan C for such day shall be deemed to be 4.00% per annum.”

 

(v)  The definition of the term “Eurocurrency
Rate” is hereby amended to add at the end thereof the following:

 

“Notwithstanding the foregoing, if the Eurocurrency Rate determined as
provided above with respect to any Incremental Term Loan C for any Interest
Period would be less than 3.00% per annum, then the Eurocurrency Rate with
respect to such Incremental Term Loan C for such Interest Period shall be
deemed to be 3.00% per annum.”

 

(vi)  The definition of the term “Interest
Period” is hereby amended to replace the phrase “as to each Eurocurrency Rate Loan subject to clauses (i) and
(ii) of Section 1.09(b) of the First Amended and Restated Credit
Agreement and clause (b) of the last sentence of Section 2.08(a),”
with the phrase “as to each Eurocurrency Rate Loan,”.

 

(b)  Sections 2.02(a) and
2.05(a) of the Credit Agreement are hereby amended to add, after each
reference therein to “Tranche B Dollar Term Loans”, the words “, Incremental
Term Loans C,” or “and Incremental Term Loans C”, as the context may require.

 

(c)  Section 2.07 of
the Credit Agreement is hereby amended to add a new paragraph (g) at the
end thereof as follows:

 

6

 

“(g) Incremental
Term Loans C. The Borrower shall repay to the Administrative Agent
for the ratable account of the Incremental Term Loan C Lenders (i) on the
last Business Day of each March, June, September and December, commencing
with the last Business Day of September 2009, an aggregate Dollar Amount
equal to 0.25% of the aggregate Dollar Amount of all Incremental Term Loans C
outstanding on the Incremental Term Loan C Facility Effective Date (which
payments shall be reduced as a result of the application of prepayments in
accordance with the order of priority set forth in Section 2.05) and (ii) on
the Maturity Date for the Incremental Term Loans C, the aggregate principal
amount of all Incremental Term Loans C outstanding on such date.”

 

(d)  Section 7.10
of the Credit Agreement is hereby amended in its entirety to read as follows:

 

“SECTION 7.10 Use of Proceeds. Use the
proceeds of any Credit Extension, whether directly or indirectly, in a manner
inconsistent with the uses set forth in the preliminary statements to this
Agreement or, in the case of Incremental Term Loans C, the preliminary
statements to the Incremental Amendment No. 1.”

 

SECTION 4.  Representations and Warranties.  Holdings and the Borrower represent and
warrant to the Agents, the Incremental Term Loan C Facility Arranger and the
Lenders:

 

(a)  The execution, delivery and performance by
Holdings and the Borrower of this Amendment and, in the case of the Borrower,
the borrowing of the Incremental Term Loans C hereunder are within their
respective corporate or other powers, have been duly authorized by all
necessary corporate or other organizational action, and do not and will not (i) contravene
the terms of any of Holdings’ or the Borrower’s Organization Documents, (ii) conflict
with or result in any breach or contravention of, or the creation of any Lien
under (other than as permitted by Section 7.01 of the Credit Agreement),
or require any payment to be made under (A) any Contractual Obligation to
which Holdings, the Borrower or any other Subsidiary is a party or which
affects Holdings, the Borrower or any other Subsidiary or any of their
respective properties or (B) any material order, injunction, writ or
decree of any Governmental Authority or any arbitral award to which Holdings,
the Borrower or any other Subsidiary or any of their respective properties is
subject; or (c) violate any material Law; except with respect to any
conflict, breach or contravention or payment (but not creation of Liens)
referred to in clause (ii)(A), to the extent that such conflict, breach,
contravention or payment could not reasonably be expected to have a Material
Adverse Effect.

 

(b)  This Amendment has been duly executed and
delivered by each of Holdings and the Borrower, and constitutes a legal, valid
and binding obligation of each of Holdings and the Borrower, enforceable
against it in accordance with its terms, except 

 

7

 

as such enforceability may be limited by Debtor Relief
Laws and by general principles of equity.

 

SECTION 5.  Effectiveness.  This Amendment shall become effective on and
as of the date on which each of the following conditions precedent is satisfied
(such date, the “Incremental Term Loan C
Facility Effective Date”):

 

(a)  The Incremental
Term Loan C Facility Arranger shall have received counterparts of this
Amendment that, when taken together, bear the signatures of (i) the
Administrative Agent, (ii) Holdings, (iii) the Borrower and (iv) each
Incremental Term Loan C Lender.

 

(b)  The Incremental Term Loan C Facility
Arranger shall have received the following, each of which shall be originals or
facsimiles (followed promptly by originals) unless otherwise specified, each
properly executed by a Responsible Officer of the signing Loan Party, each in
form and substance reasonably satisfactory to the Incremental Term Loan C Facility
Arranger and its legal counsel:

 

(i)  such certificates of resolutions or other action,
incumbency certificates and/or other certificates of Responsible Officers of
Holdings and the Borrower as the Incremental Term Loan C Facility Arranger may
reasonably require evidencing the identity, authority and capacity of each
Responsible Officer thereof authorized to act as a Responsible Officer in
connection with this Amendment and the other Loan Documents;

 

(ii)  an opinion from Simpson Thacher & Bartlett
LLP, New York counsel to the Loan Parties, in form and substance
reasonably satisfactory to the Incremental Term Loan C Facility Arranger,
covering such matters relating to this Amendment and the transactions
contemplated hereby as the Incremental Term Loan C Facility Arranger shall
reasonably request;

 

(iii)  a certificate from the Chief
Financial Officer of the Borrower, dated the Incremental Term Loan C Facility Effective
Date, certifying as to (A) the accuracy of the representations and warranties
set forth in Section 4 hereof, (B) the  satisfaction of the conditions precedent set
forth in paragraphs (c) and (d) of this Section 5 and (C) compliance
by the Borrower with the covenant set forth in Section 7.11 of the Credit
Agreement for the Test Period in effect on the Incremental Term Loan C Facility
Effective Date, determined on a Pro Forma Basis;

 

(iv)  a Committed Loan Notice relating to the making of the Incremental
Term Loans C; and

 

(v)  all documentation and other information required by
bank regulatory authorities under applicable “know your customer” and
anti-money laundering rules and regulations, including the Act, requested
by any Incremental Term Loan C Lender that is not a Lender under the Credit
Agreement prior to the 

 

8

 

effectiveness
hereof a reasonable period of time prior to the Incremental Term Loan C
Facility Effective Date.

 

(c)  The representations and warranties of the
Borrower and each other Loan Party contained in Article V of the Credit
Agreement or in any other Loan Document 
shall be true and correct in all material respects on and as of the Incremental
Term Loan C Facility Effective Date; provided
that, to the extent that such representations and warranties
specifically refer to an earlier date, they shall be true and correct in all
material respects as of such earlier date; provided,
further,  that, any
representation and warranty that is qualified as to “materiality,” “Material
Adverse Effect” or similar language shall be true and correct in all respects
on such respective dates.

 

(d)  No Default or Event of Default shall exist
on the Incremental Term Loan C Facility Effective Date, or would result from
the borrowing of the Incremental Term Loans C or from the application of the
proceeds thereof.

 

(e)  The Incremental
Term Loan C Facility Arranger shall have received all other fees and other
amounts due and payable to them on or prior to the Incremental Term Loan C
Facility Effective Date, including reimbursement or payment of all reasonable documented  out-of-pocket expenses (including reasonable
fees, disbursements and other charges of counsel) required to be reimbursed or
paid by any Loan Party under the Credit Agreement or under any engagement
letter entered into in connection with the Incremental Term Loan C Facility.

 

(f)  Each Loan Party shall
have entered into a written instrument reasonably satisfactory to the Incremental
Term Loan C Facility Arranger pursuant to which it confirms that it consents to
this Amendment and the Incremental Term Loans C and that the Security Documents
to which it is party will continue to apply in respect of the Credit Agreement,
as amended hereby, and the Obligations of such Loan Party.

 

SECTION 6.  Effect of this Amendment.  (a)  Except as expressly set forth
herein, this Amendment shall not by implication or otherwise limit, impair,
constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders or the Agents under the Credit Agreement or any other Loan Document,
and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document, all of which are ratified and affirmed in
all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle any
Loan Party to a consent to, or a waiver, amendment, modification or other
change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Credit Agreement or any other Loan Document in similar or
different circumstances.

 

(b)  On and after the Incremental
Term Loan C Facility Effective Date, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each
reference to the Credit Agreement in any 

 

9

 

other Loan Document shall be deemed to be a
reference to the Credit Agreement as amended hereby.  This Amendment shall constitute a “Loan
Document” for all purposes of the Credit Agreement and the other Loan
Documents.

 

(c)  To the extent
required by Section 2.14 of the Credit Agreement, the Administrative Agent
hereby consents to each Incremental Term Loan C Lender making an Incremental Term
Loan C pursuant to Section 2 hereof.

 

(d)  It is understood and agreed that the Pro
Rata Share of any Incremental Term Loan C Lender at any time shall, with
respect to the Facility consisting of the Incremental Term Loans C, be
determined based on the percentage (carried out to the ninth decimal place) of
the aggregate principal amount of the Incremental Term Loans C of all the
Incremental Term Loan C Lenders represented at such time by the Incremental
Term Loans C of such Incremental Term Loan C Lender.

 

SECTION 7. 
Counterparts.  This Amendment may be executed in one or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. Delivery by electronic
transmission of an executed counterpart of a signature page to this
Amendment shall be effective as delivery of an original executed counterpart of
this Amendment.

 

SECTION 8.  GOVERNING LAW.  (a)  THIS AMENDMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

(b)  ANY LEGAL ACTION
OR PROCEEDING ARISING UNDER THIS AMENDMENT OR IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH
RESPECT TO THIS AMENDMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, MAY BE BROUGHT IN THE COURTS OF
THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE
SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS AMENDMENT,
EACH PARTY HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE
NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. 
EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY
OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS,
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR
PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER
DOCUMENT RELATED THERETO.

 

SECTION 9.  Headings.  Section headings used herein are for
convenience of reference only, are not part of this Amendment and shall not
affect the construction of, or be taken into consideration in interpreting,
this Amendment.

 

10

 

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

 

	
   

  	
  TRAVELPORT LLC,

  
	
   

  	
   

  
	
   

  	
  by

  
	
   

  	
   

  	
  /s/ Kevin P. Monaco

  
	
   

  	
   

  	
  Name:

  	
  Kevin P. Monaco

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President & Treasurer

  

 

 

	
   

  	
  TRAVELPORT LIMITED,

  
	
   

  	
   

  
	
   

  	
  by

  
	
   

  	
   

  	
  /s/ Kevin P. Monaco

  
	
   

  	
   

  	
  Name:

  	
  Kevin P. Monaco

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President & Treasurer

  

 

	
   

  	
   

  
	
   

  	
  UBS AG, STAMFORD BRANCH,
  as the Administrative Agent,

  
	
   

  	
   

  
	
   

  	
  by

  
	
   

  	
   

  	
  /s/ Mary E. Evans

  
	
   

  	
   

  	
  Name:

  	
  Mary E. Evans

  
	
   

  	
   

  	
  Title:

  	
  Associate Director

  

 

	
   

  	
  by

  
	
   

  	
   

  	
  /s/ Marie A. Haddad

  
	
   

  	
   

  	
  Name:

  	
  Marie A. Haddad

  
	
   

  	
   

  	
  Title:

  	
  Associate Director

  

 

11

 

SIGNATURE PAGE TO AMENDMENT
NO. 1

TO THE TRAVELPORT LLC

SECOND AMENDED AND RESTATED
CREDIT

AGREEMENT DATED AS OF MAY 23, 2007

 

 

	
  Name of Incremental Term Loan C Lender:

  	
    CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

  
	
   

  	
   

  
	
   

  	
  by

  
	
   

  	
   

  	
  /s/ Judith E. Smith

  
	
   

  	
   

  	
  Name:

  	
  Judith E. Smith

  
	
   

  	
   

  	
  Title:

  	
  Director

  
					

 

 

	
   

  	
  by

  
	
   

  	
   

  	
  /s/ James Morgan

  
	
   

  	
   

  	
  Name:

  	
  James Morgan

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  

 

 

SCHEDULE 1 TO AMENDMENT NO.
1

TO THE TRAVELPORT LLC

SECOND AMENDED AND RESTATED
CREDIT

AGREEMENT
DATED AS OF MAY 23, 2007

 

Incremental Term Loan C
Commitments

 

	
  Lender

  	
   

  	
  Incremental Term Loan C 

  Commitment

  	
   

  
	
  Credit Suisse, Cayman
  Islands Branch

  	
   

  	
  $

  	
  150,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  $

  	
  150,000,000EXHIBIT
4.3

 

 

INOVIO
BIOMEDICAL CORPORATION

 

SENIOR
DEBT SECURITIES

 

 

INDENTURE

 

Dated
as of                                                  

 

 

Trustee

 

 

 

 

TABLE OF CONTENTS

 

	
   

  	
  PAGE

  
	
   

  	
   

  
	
  ARTICLE 1       DEFINITIONS

  	
  1

  
	
  Section 1.01

  	
  Definitions of Terms

  	
  1

  
	
  ARTICLE 2       ISSUE,
  DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

  	
  5

  
	
  Section 2.01

  	
  Designation and Terms of
  Securities

  	
  5

  
	
  Section 2.02

  	
  Form of Securities
  and Trustee’s Certificate

  	
  7

  
	
  Section 2.03

  	
  Denominations: Provisions
  for Payment

  	
  7

  
	
  Section 2.04

  	
  Execution and
  Authentications

  	
  9

  
	
  Section 2.05

  	
  Registration of Transfer
  and Exchange

  	
  9

  
	
  Section 2.06

  	
  Temporary Securities

  	
  10

  
	
  Section 2.07

  	
  Mutilated, Destroyed, Lost
  or Stolen Securities

  	
  11

  
	
  Section 2.08

  	
  Cancellation

  	
  12

  
	
  Section 2.09

  	
  Benefits of Indenture

  	
  12

  
	
  Section 2.10

  	
  Authenticating Agent

  	
  12

  
	
  Section 2.11

  	
  Global Securities

  	
  13

  
	
  ARTICLE 3       REDEMPTION
  OF SECURITIES AND SINKING FUND PROVISIONS

  	
  14

  
	
  Section 3.01

  	
  Redemption

  	
  14

  
	
  Section 3.02

  	
  Notice of Redemption

  	
  14

  
	
  Section 3.03

  	
  Payment Upon Redemption

  	
  15

  
	
  Section 3.04

  	
  Sinking Fund

  	
  16

  
	
  Section 3.05

  	
  Satisfaction of Sinking
  Fund Payments with Securities

  	
  16

  
	
  Section 3.06

  	
  Redemption of Securities
  for Sinking Fund

  	
  16

  
	
  ARTICLE 4       COVENANTS

  	
  17

  
	
  Section 4.01

  	
  Payment of Principal, Premium
  and Interest

  	
  17

  
	
  Section 4.02

  	
  Maintenance of Office or
  Agency

  	
  17

  
	
  Section 4.03

  	
  Paying Agents

  	
  17

  
	
  Section 4.04

  	
  Appointment to Fill
  Vacancy in Office of Trustee

  	
  19

  
	
  Section 4.05

  	
  Compliance with
  Consolidation Provisions

  	
  19

  

 

i

 

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(CONTINUED)

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5       SECURITYHOLDERS’
  LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  	
  19

  
	
  Section 5.01

  	
  Company to Furnish Trustee
  Names and Addresses of Securityholders

  	
  19

  
	
  Section 5.02

  	
  Preservation Of
  Information; Communications With Securityholders

  	
  19

  
	
  Section 5.03

  	
  Reports by the Company

  	
  20

  
	
  Section 5.04

  	
  Reports by the Trustee

  	
  20

  
	
  ARTICLE 6       REMEDIES
  OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

  	
  20

  
	
  Section 6.01

  	
  Events of Default

  	
  20

  
	
  Section 6.02

  	
  Collection of Indebtedness
  and Suits for Enforcement by Trustee

  	
  22

  
	
  Section 6.03

  	
  Application of Moneys
  Collected

  	
  23

  
	
  Section 6.04

  	
  Limitation on Suits

  	
  24

  
	
  Section 6.05

  	
  Rights and Remedies
  Cumulative; Delay or Omission Not Waiver

  	
  24

  
	
  Section 6.06

  	
  Control by Securityholders

  	
  25

  
	
  Section 6.07

  	
  Undertaking to Pay Costs

  	
  25

  
	
  ARTICLE 7       CONCERNING
  THE TRUSTEE

  	
  26

  
	
  Section 7.01

  	
  Certain Duties and
  Responsibilities of Trustee

  	
  26

  
	
  Section 7.02

  	
  Certain Rights of Trustee

  	
  27

  
	
  Section 7.03

  	
  Trustee Not Responsible
  for Recitals or Issuance or Securities

  	
  28

  
	
  Section 7.04

  	
  May Hold Securities

  	
  29

  
	
  Section 7.05

  	
  Moneys Held in Trust

  	
  29

  
	
  Section 7.06

  	
  Compensation and
  Reimbursement

  	
  29

  
	
  Section 7.07

  	
  Reliance on Officers’
  Certificate

  	
  29

  
	
  Section 7.08

  	
  Disqualification;
  Conflicting Interests

  	
  30

  
	
  Section 7.09

  	
  Corporate Trustee
  Required; Eligibility

  	
  30

  
	
  Section 7.10

  	
  Resignation and Removal;
  Appointment of Successor

  	
  30

  
	
  Section 7.11

  	
  Acceptance of Appointment
  By Successor

  	
  31

  
	
  Section 7.12

  	
  Merger, Conversion,
  Consolidation or Succession to Business

  	
  33

  
	
  Section 7.13

  	
  Preferential Collection
  of Claims Against the Company

  	
  33

  

 

ii

 

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  PAGE

  
	
   

  	
   

  	
   

  
	
  Section 7.14

  	
  Notice of Default

  	
  33

  
	
  ARTICLE 8       CONCERNING
  THE SECURITYHOLDERS

  	
  33

  
	
  Section 8.01

  	
  Evidence of Action by
  Securityholders

  	
  33

  
	
  Section 8.02

  	
  Proof of Execution by
  Securityholders

  	
  34

  
	
  Section 8.03

  	
  Who May be Deemed
  Owners

  	
  34

  
	
  Section 8.04

  	
  Certain Securities Owned
  by Company Disregarded

  	
  34

  
	
  Section 8.05

  	
  Actions Binding on Future
  Securityholders

  	
  35

  
	
  ARTICLE 9       SUPPLEMENTAL
  INDENTURES

  	
  35

  
	
  Section 9.01

  	
  Supplemental Indentures
  Without the Consent of Securityholders

  	
  35

  
	
  Section 9.02

  	
  Supplemental Indentures
  With Consent of Securityholders

  	
  36

  
	
  Section 9.03

  	
  Effect of Supplemental
  Indentures

  	
  37

  
	
  Section 9.04

  	
  Securities Affected by
  Supplemental Indentures

  	
  37

  
	
  Section 9.05

  	
  Execution of Supplemental
  Indentures

  	
  37

  
	
  ARTICLE 10       SUCCESSOR
  ENTITY

  	
  38

  
	
  Section 10.01

  	
  Company
  May Consolidate, Etc.

  	
  38

  
	
  Section 10.02

  	
  Successor Entity
  Substituted

  	
  39

  
	
  Section 10.03

  	
  Evidence of Consolidation,
  Etc. to Trustee

  	
  39

  
	
  ARTICLE 11       SATISFACTION
  AND DISCHARGE

  	
  39

  
	
  Section 11.01

  	
  Satisfaction and Discharge
  of Indenture

  	
  39

  
	
  Section 11.02

  	
  Discharge of Obligations

  	
  40

  
	
  Section 11.03

  	
  Deposited Moneys to be
  Held in Trust

  	
  40

  
	
  Section 11.04

  	
  Payment of Moneys Held by
  Paying Agents

  	
  40

  
	
  Section 11.05

  	
  Repayment to Company

  	
  40

  
	
  ARTICLE 12       IMMUNITY
  OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
  41

  
	
  Section 12.01

  	
  No Recourse

  	
  41

  
	
  ARTICLE 13       MISCELLANEOUS
  PROVISIONS

  	
  41

  
	
  Section 13.01

  	
  Effect on Successors and
  Assigns

  	
  41

  
	
  Section 13.02

  	
  Actions by Successor

  	
  41

  
	
  Section 13.03

  	
  Surrender of Company
  Powers

  	
  42

  
					

 

iii

 

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(CONTINUED)

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  	
   

  
	
  Section 13.04

  	
  Notices

  	
  42

  
	
  Section 13.05

  	
  Governing Law

  	
  42

  
	
  Section 13.06

  	
  Treatment of Securities as
  Debt

  	
  42

  
	
  Section 13.07

  	
  Certificates and Opinions
  as to Conditions Precedent

  	
  42

  
	
  Section 13.08

  	
  Payments on Business Days

  	
  43

  
	
  Section 13.09

  	
  Conflict with Trust
  Indenture Act

  	
  43

  
	
  Section 13.10

  	
  Counterparts

  	
  43

  
	
  Section 13.11

  	
  Separability

  	
  43

  
	
  Section 13.12

  	
  Compliance Certificates

  	
  43

  

 

iv

 

INDENTURE

 

INDENTURE, dated as of [ · ],
200      , between INOVIO BIOMEDICAL CORPORATION, a Delaware corporation (the “Company”),
and [TRUSTEE], as trustee (the “Trustee”):

 

WHEREAS, for its lawful corporate purposes, the
Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance of debt securities (hereinafter referred to as the “Securities”),
in an unlimited aggregate principal amount to be issued from time to time in
one or more series as in this Indenture provided, as registered Securities
without coupons, to be authenticated by the certificate of the Trustee;

 

WHEREAS, to provide the terms and conditions
upon which the Securities are to be authenticated, issued and delivered, the
Company has duly authorized the execution of this Indenture; and

 

WHEREAS, all things necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have
been done.

 

NOW,
THEREFORE, in
consideration of the premises and the purchase of the Securities by the holders
thereof, it is mutually covenanted and agreed as follows for the equal and
ratable benefit of the holders of Securities:

 

ARTICLE 1

DEFINITIONS

 

Section 1.01                            Definitions of Terms.

 

The terms defined
in this Section (except as in this Indenture or any indenture supplemental
hereto otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture and of any indenture supplemental hereto
shall have the respective meanings specified in this Section and shall
include the plural as well as the singular. 
All other terms used in this Indenture that are defined in the Trust
Indenture Act of 1939, as amended, or that are by reference in such Act defined
in the Securities Act of 1933, as amended (except as herein or any indenture
supplemental hereto otherwise expressly provided or unless the context
otherwise requires), shall have the meanings assigned to such terms in said
Trust Indenture Act and in said Securities Act as in force at the date of the
execution of this instrument.

 

“Authenticating Agent”
means an authenticating agent with respect to all or any of the series of
Securities appointed by the Trustee pursuant to Section 2.10.

 

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

 

“Board of Directors”
means the Board of Directors of the Company or any duly authorized committee of
such Board.

 

1

 

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

 

“Business Day” means,
with respect to any series of Securities, any day other than a day on which
federal or state banking institutions in the Borough of Manhattan, the City of
New York, or in the city of the Corporate Trust Office of the Trustee, are
authorized or obligated by law, executive order or regulation to close.

 

“Certificate” means a
certificate signed by any Officer.  The
Certificate need not comply with the provisions of Section 13.07.

 

“Company” means Inovio
Biomedical Corporation, a corporation duly organized and existing under the
laws of the State of Delaware, and, subject to the provisions of Article Ten,
shall also include its successors and assigns.

 

“Corporate Trust Office”
means the office of the Trustee at which, at any particular time, its corporate
trust business shall be principally administered, which office at the date
hereof is located at [            ].

 

“Custodian” means any
receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

 

“Default” means any
event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default.

 

“Depositary” means,
with respect to Securities of any series for which the Company shall determine
that such Securities will be issued as a Global Security, The Depository Trust
Company, New York, New York, another clearing agency, or any successor
registered as a clearing agency under the Securities and Exchange Act of 1934,
as amended (the “Exchange Act”), or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.

 

“Event of Default”
means, with respect to Securities of a particular series, any event specified
in Section 6.01, continued for the period of time, if any, therein
designated.

 

“Global Security”
means, with respect to any series of Securities, a Security executed by the
Company and delivered by the Trustee to the Depositary or pursuant to the
Depositary’s instruction, all in accordance with the Indenture, which shall be
registered in the name of the Depositary or its nominee.

 

“Governmental Obligations”
means securities that are (a) direct obligations of the United States of
America for the payment of which its full faith and credit is pledged or (b) obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America, the payment of which is unconditionally
guaranteed as a full faith and credit obligation by the United States of
America that, in either case, are not callable or redeemable at the option of
the issuer thereof at any time prior to the stated maturity of the Securities,
and shall also include a depositary receipt issued by a bank or trust company
as custodian with respect to 

 

2

 

any
such Governmental Obligation or a specific payment of principal of or interest
on any such Governmental Obligation held by such custodian for the account of
the holder of such depositary receipt; provided, however, that (except as
required by law) such custodian is not authorized to make any deduction from
the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the Governmental Obligation or the
specific payment of principal of or interest on the Governmental Obligation
evidenced by such depositary receipt.

 

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

 

“Indenture” means this
instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof.

 

“Interest Payment Date”,
when used with respect to any installment of interest on a Security of a
particular series, means the date specified in such Security or in a Board
Resolution or in an indenture supplemental hereto with respect to such series
as the fixed date on which an installment of interest with respect to
Securities of that series is due and payable.

 

“Officer” means, with
respect to the Company, the chairman of the Board of Directors, a chief
executive officer, a president, a chief financial officer, a chief operating
officer, any executive vice president, any senior vice president, any vice
president, the treasurer or any assistant treasurer, the controller or any
assistant controller or the secretary or any assistant secretary.

 

“Officers’ Certificate”
means a certificate signed by any two Officers. 
Each such certificate shall include the statements provided for in Section 13.07,
if and to the extent required by the provisions thereof.

 

“Opinion of Counsel”
means an opinion in writing subject to customary exceptions of legal counsel,
who may be an employee of or counsel for the Company, that is delivered to the
Trustee in accordance with the terms hereof. 
Each such opinion shall include the statements provided for in Section 13.07,
if and to the extent required by the provisions thereof.

 

“Outstanding”, when
used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of
that series theretofore authenticated and delivered by the Trustee under this
Indenture, except (a) Securities theretofore canceled by the Trustee or
any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or
portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any paying agent (other than the Company) or shall have been
set aside and segregated in trust by the Company (if the Company shall act as
its own paying agent); provided, however, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of
such redemption shall have been given as in Article Three provided, or
provision satisfactory to the Trustee shall have been 

 

3

 

made
for giving such notice; and (c) Securities in lieu of or in substitution
for which other Securities shall have been authenticated and delivered pursuant
to the terms of Section 2.07.

 

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

 

“Predecessor Security”
of any particular Security means every previous Security evidencing all or a
portion of the same debt as that evidenced by such particular Security; and,
for the purposes of this definition, any Security authenticated and delivered
under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be
deemed to evidence the same debt as the lost, destroyed or stolen Security.

 

“Responsible Officer”
when used with respect to the Trustee means the chairman of its board of
directors, the chief executive officer, the president, any vice president, the
secretary, the treasurer, any trust officer, any corporate trust officer or any
other officer or assistant officer of the Trustee customarily performing
functions similar to those performed by the Persons who at the time shall be
such officers, respectively, or to whom any corporate trust matter is referred
because of his or her knowledge of and familiarity with the particular subject.

 

“Securities” means the
debt Securities authenticated and delivered under this Indenture.

 

“Securityholder”, “holder of Securities”, “registered holder”, or other similar
term, means the Person or Persons in whose name or names a particular Security
shall be registered on the books of the Company kept for that purpose in
accordance with the terms of this Indenture.

 

“Security Register”
and “Security Registrar”
shall have the meanings as set forth in Section 2.05.

 

“Subsidiary” means,
with respect to any Person, (i) any corporation at least a majority of
whose outstanding Voting Stock shall at the time be owned, directly or indirectly,
by such Person or by one or more of its Subsidiaries or by such Person and one
or more of its Subsidiaries, (ii) any general partnership, joint venture
or similar entity, at least a majority of whose outstanding partnership or
similar interests shall at the time be owned by such Person, or by one or more
of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any
limited partnership of which such Person or any of its Subsidiaries is a
general partner.

 

“Trustee” means
[      ], and, subject to the provisions of Article Seven,
shall also include its successors and assigns, and, if at any time there is
more than one Person acting in such capacity hereunder, “Trustee” shall mean
each such Person.  The term “Trustee” as
used with respect to a particular series of the Securities shall mean the
trustee with respect to that series.

 

“Trust Indenture Act”
means the Trust Indenture Act of 1939, as amended.

 

“Voting Stock”, as
applied to stock of any Person, means shares, interests, participations or
other equivalents in the equity interest (however designated) in such Person
having ordinary voting power for the election of a majority of the directors
(or the equivalent) of such Person, 

 

4

 

other
than shares, interests, participations or other equivalents having such power
only by reason of the occurrence of a contingency.

 

ARTICLE 2

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND
EXCHANGE OF SECURITIES

 

Section 2.01                            Designation and Terms of Securities.

 

(a)                                  The aggregate principal amount of
Securities that may be authenticated and delivered under this Indenture is
unlimited.  The Securities may be issued
in one or more series up to the aggregate principal amount of Securities of that
series from time to time authorized by or pursuant to a Board Resolution or
pursuant to one or more indentures supplemental hereto.  Prior to the initial issuance of Securities
of any series, there shall be established in or pursuant to a Board Resolution,
and set forth in an Officers’ Certificate, or established in one or more
indentures supplemental hereto:

 

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

 

(2)                                 any limit upon the aggregate principal
amount of the Securities of that 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 that series);

 

(3)                                 the date or dates on which the principal
of the Securities of the series is payable, any original issue discount that
may apply to the Securities of that series upon their issuance, the principal
amount due at maturity, and the place(s) of payment;

 

(4)                                 the rate or rates at which the Securities
of the series shall bear interest or the manner of calculation of such rate or
rates, if any;

 

(5)                                 the date or dates from which such
interest shall accrue, the Interest Payment Dates on which such interest will
be payable or the manner of determination of such Interest Payment Dates, the
place(s) of payment, and the record date for the determination of holders
to whom interest is payable on any such Interest Payment Dates or the manner of
determination of such record dates;

 

(6)                                 the right, if any, to extend the interest
payment periods and the duration of such extension;

 

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

 

(8)                                 the obligation, if any, of the Company to
redeem or purchase Securities of the series pursuant to any sinking fund,
mandatory redemption, or analogous provisions (including payments made in cash
in satisfaction of future sinking fund obligations)

 

5

 

or at the option of a holder thereof and the period or
periods within which, the price or prices at which, and the terms and
conditions upon which, Securities of the series shall be redeemed or purchased,
in whole or in part, pursuant to such obligation;

 

(9)                                 the form of the Securities of the series
including the form of the Certificate of Authentication for such series;

 

(10)                          if other than denominations of one
thousand U.S. dollars ($1,000) or any integral multiple thereof, the
denominations in which the Securities of the series shall be issuable;

 

(11)                          any and all other terms (including terms,
to the extent applicable, relating to any auction or remarketing of the
Securities of that series and any security for the obligations of the Company
with respect to such Securities) with respect to such series (which terms shall
not be inconsistent with the terms of this Indenture, as amended by any
supplemental indenture) including any terms which may be required by or
advisable under United States laws or regulations or advisable in connection
with the marketing of Securities of that series;

 

(12)                          whether the Securities are issuable as a
Global Security and, in such case, the terms and the identity of the Depositary
for such series;

 

(13)                          whether the Securities will be
convertible into or exchangeable for shares of common stock or other securities
of the Company or any other Person and, if so, the terms and conditions upon
which such Securities will be so convertible or exchangeable, including the
conversion or exchange price, as applicable, or how it will be calculated and
may be adjusted, any mandatory or optional (at the Company’s option or the
holders’ option) conversion or exchange features, and the applicable conversion
or exchange period;

 

(14)                          if other than the principal amount
thereof, the portion of the principal amount of Securities of the series which
shall be payable upon declaration of acceleration of the maturity thereof
pursuant to Section 6.01;

 

(15)                          any additional or different Events of
Default or restrictive covenants (which may include, among other restrictions,
restrictions on the Company’s ability or the ability of the Company’s
Subsidiaries to: incur additional indebtedness; issue additional securities;
create liens; pay dividends or make distributions in respect of their capital
stock; redeem capital stock; place restrictions on such Subsidiaries placing
restrictions on their ability to pay dividends, make distributions or transfer
assets; make investments or other restricted payments; sell or otherwise
dispose of assets; enter into sale-leaseback transactions; engage in
transactions with stockholders and affiliates; issue or sell stock of their
Subsidiaries; or effect a consolidation or merger) or financial covenants
(which may include, among other financial covenants, financial covenants that
require the Company and its Subsidiaries to maintain specified interest
coverage, fixed charge, cash flow-based or asset-based ratios) provided for
with respect to the Securities of the series;

 

(16)                          if other than dollars, the coin or
currency in which the Securities of the series are denominated (including, but
not limited to, foreign currency);

 

6

 

(17)                          the terms and conditions, if any, upon
which the Company shall pay amounts in addition to the stated interest,
premium, if any and principal amounts of the Securities of the series to any
Securityholder that is not a “United States person” for federal tax purposes;
and

 

(18)                          any restrictions on transfer, sale or
assignment of the Securities of the series.

 

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 any such Board Resolution or in any indentures
supplemental hereto.

 

If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an
appropriate record of such action 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 of the Company setting forth the
terms of the series.

 

Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment
of principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on
which such interest may be payable and with different redemption dates.

 

Section 2.02                            Form of Securities and Trustee’s
Certificate.

 

The Securities of any series and the Trustee’s
certificate of authentication to be borne by such Securities shall be
substantially of the tenor and purport as set forth in one or more indentures
supplemental hereto or as provided in a Board Resolution, and set forth in an
Officers’ Certificate, and they may have such letters, numbers or other marks
of identification or designation and such legends or endorsements printed,
lithographed or engraved 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 securities exchange on which
Securities of that series may be listed, or to conform to usage.

 

Section 2.03                            Denominations: Provisions for Payment.

 

The Securities shall be issuable as registered
Securities and in the denominations of one thousand U.S. dollars ($1,000) or
any integral multiple thereof, subject to Section 2.01(a)(10).  The Securities of a particular series shall
bear interest payable on the dates and at the rate specified with respect to
that series.  Subject to Section 2.01(a)(16),
the principal of and the interest on the Securities of any series, as well as
any premium thereon in case of redemption thereof prior to maturity, shall be
payable in the coin or currency of the United States of America that at the
time is legal tender for public and private debt, at the office or agency of
the Company maintained for that purpose in the Borough of Manhattan, the City
and State of New York.  Each Security
shall be dated the date of its authentication. 
Interest on the Securities shall be computed on the basis of a 360-day
year composed of twelve 30-day months.

 

7

 

The interest installment on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment
Date for Securities of that series shall be paid to the Person in whose name
said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest
installment.  In the event that any
Security of a particular series or portion thereof is called for redemption and
the redemption date is subsequent to a regular record date with respect to any
Interest Payment Date and prior to such Interest Payment Date, interest on such
Security will be paid upon presentation and surrender of such Security as
provided in Section 3.03.

 

Any interest on any Security that is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date for
Securities of the same series (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the registered holder on the relevant regular
record date by virtue of having been such holder; and such Defaulted Interest
shall be paid by the Company, at its election, as provided in clause (1) or
clause (2) below:

 

(1)                                 The Company may make payment of any
Defaulted Interest on Securities to the Persons in whose names such Securities
(or their respective Predecessor Securities) are registered at the close of
business on a special record date for the payment of such Defaulted Interest,
which shall be fixed in the following manner: the Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each such Security and the date of the proposed payment, and at the same time
the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this
clause provided.  Thereupon the Trustee
shall fix a special record date for the payment of such Defaulted Interest
which shall not be more than 15 nor less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Trustee of
the notice of the proposed payment.  The
Trustee shall promptly notify the Company of such special record date and, in
the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the special record date therefor to be
mailed, first class postage prepaid, to each Securityholder at his or her
address as it appears in the Security Register (as hereinafter defined), not
less than 10 days prior to such special record date.  Notice of the proposed payment of such
Defaulted Interest and the special record date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names
such Securities (or their respective Predecessor Securities) are registered on
such special record date.

 

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

 

Unless otherwise set forth in a Board Resolution or
one or more indentures supplemental hereto establishing the terms of any series
of Securities pursuant to Section 2.01 hereof, the term “regular record
date” as used in this Section with respect to a series of Securities and
any Interest Payment Date for such series shall mean either the fifteenth day
of the month immediately 

 

8

 

preceding the month in which an Interest Payment Date
established for such series pursuant to Section 2.01 hereof shall occur,
if such Interest Payment Date is the first day of a month, or the first day of
the month in which an Interest Payment Date established for such series
pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date
is the fifteenth day of a month, whether or not such date is a Business Day.

 

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

 

Section 2.04                            Execution and Authentications.

 

The Securities shall be signed on behalf of the
Company by one of its Officers. 
Signatures may be in the form of a manual or facsimile signature.

 

The Company may use the facsimile signature of any
Person who shall have been an Officer, notwithstanding the fact that at the
time the Securities shall be authenticated and delivered or disposed of such
Person shall have ceased to be such an officer of the Company.  The Securities may contain such notations,
legends or endorsements required by law, stock exchange rule or
usage.  Each Security shall be dated the
date of its authentication by the Trustee.

 

A Security shall not be valid until authenticated
manually by an authorized signatory of the Trustee, or by an Authenticating
Agent.  Such signature shall be conclusive
evidence that the Security so authenticated has been duly authenticated and
delivered hereunder and that the holder is entitled to the benefits of this
Indenture.  At any time and from time to
time after the execution and delivery of this Indenture, the Company may
deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by an Officer, and the
Trustee in accordance with such written order shall authenticate and deliver
such Securities.

 

In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01)
shall be fully protected in relying upon, an Opinion of Counsel stating that
the form and terms thereof have been established in conformity with the
provisions of this Indenture.

 

The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will
affect the Trustee’s own rights, duties or immunities under the Securities and
this Indenture or otherwise in a manner that is not reasonably acceptable to
the Trustee.

 

Section 2.05                            Registration of Transfer and Exchange.

 

(a)                                  Securities of any series may be exchanged
upon presentation thereof at the office or agency of the Company designated for
such purpose in the Borough of Manhattan, the City and State of New York, for
other Securities of such series of authorized denominations, and for a like
aggregate principal amount, upon payment of a sum sufficient to cover any tax
or other 

 

9

 

governmental charge in relation thereto, all as
provided in this Section.  In respect of
any Securities so surrendered for exchange, the Company shall execute, the
Trustee shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder
making the exchange shall be entitled to receive, bearing numbers not
contemporaneously outstanding.

 

(b)                                  The Company shall keep, or cause to be
kept, at its office or agency designated for such purpose in the Borough of
Manhattan, the City and State of New York, or such other location designated by
the Company, a register or registers (herein referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of
Securities as in this Article provided and which at all reasonable times
shall be open for inspection by the Trustee. 
The registrar for the purpose of registering Securities and transfer of
Securities as herein provided shall be appointed as authorized by Board
Resolution (the “Security Registrar”).

 

Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose, the Company shall
execute, the Trustee shall authenticate and such office or agency shall deliver
in the name of the transferee or transferees a new Security or Securities of
the same series as the Security presented for a like aggregate principal
amount.

 

All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied
(if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or
the Security Registrar, duly executed by the registered holder or by such
holder’s duly authorized attorney in writing.

 

(c)                                  Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, no
service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any
series, but the Company may require payment of a sum sufficient to cover any tax
or other governmental charge in relation thereto, other than exchanges pursuant
to Section 2.06, Section 3.03(b) and Section 9.04 not
involving any transfer.

 

(d)                                  The Company shall not be required (i) to
issue, exchange or register the transfer of any Securities during a period
beginning at the opening of business 15 days before the day of the mailing of a
notice of redemption of less than all the Outstanding Securities of the same
series and ending at the close of business on the day of such mailing, nor (ii) to
register the transfer of or exchange any Securities of any series or portions
thereof called for redemption, other than the unredeemed portion of any such
Securities being redeemed in part.  The
provisions of this Section 2.05 are, with respect to any Global Security,
subject to Section 2.11 hereof.

 

Section 2.06                            Temporary Securities.

 

Pending the preparation of definitive Securities of
any series, the Company may execute, and the Trustee shall authenticate and
deliver, temporary Securities (printed, lithographed or typewritten) of any
authorized denomination.  Such temporary
Securities shall be substantially in 

 

10

 

the form of the definitive Securities in lieu of which
they are issued, but with such omissions, insertions and variations as may be
appropriate for temporary Securities, all as may be determined by the
Company.  Every temporary Security of any
series shall be executed by the Company and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like
effect, as the definitive Securities of such series.  Without unnecessary delay the Company will
execute and will furnish definitive Securities of such series and thereupon any
or all temporary Securities of such series may be surrendered in exchange
therefor (without charge to the holders), at the office or agency of the
Company designated for the purpose in the Borough of Manhattan, the City and
State of New York, and the Trustee shall authenticate and such office or agency
shall deliver in exchange for such temporary Securities an equal aggregate
principal amount of definitive Securities of such series, unless the Company
advises the Trustee to the effect that definitive Securities need not be executed
and furnished until further notice from the Company.  Until so exchanged, the temporary Securities
of such series shall be entitled to the same benefits under this Indenture as
definitive Securities of such series authenticated and delivered hereunder.

 

Section 2.07                            Mutilated, Destroyed, Lost or Stolen
Securities.

 

In case any temporary or definitive Security shall
become mutilated or be destroyed, lost or stolen, the Company (subject to the
next succeeding sentence) shall execute, and upon the Company’s request the
Trustee (subject as aforesaid) shall authenticate and deliver, a new Security
of the same series, bearing a number not contemporaneously outstanding, in
exchange and substitution for the mutilated Security, or in lieu of and in
substitution for the Security so destroyed, lost or stolen.  In every case the applicant for a substituted
Security shall furnish to the Company and the Trustee such security or
indemnity as may be required by them to save each of them harmless, and, in
every case of destruction, loss or theft, the applicant shall also furnish to
the Company and the Trustee evidence to their satisfaction of the destruction,
loss or theft of the applicant’s Security and of the ownership thereof.  The Trustee may authenticate any such substituted
Security and deliver the same upon the written request or authorization of any
officer of the Company.  Upon the
issuance of any substituted Security, the Company may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith.

 

In case any Security that has matured or is about to
mature shall become mutilated or be destroyed, lost or stolen, the Company may,
instead of issuing a substitute Security, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Security) if
the applicant for such payment shall furnish to the Company and the Trustee
such security or indemnity as they may require to save them harmless, and, in
case of destruction, loss or theft, evidence to the satisfaction of the Company
and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof.

 

Every replacement Security issued pursuant to the
provisions of this Section shall constitute an additional contractual
obligation of the Company whether or not the mutilated, destroyed, lost or
stolen Security shall be found at any time, or be enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of the same series duly
issued hereunder.  All Securities shall
be held and owned 

 

11

 

upon the express condition that the foregoing
provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities, and shall preclude (to the
extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the
replacement or payment of negotiable instruments or other securities without
their surrender.

 

Section 2.08                            Cancellation.

 

All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer shall, if surrendered to the
Company or any paying agent, be delivered to the Trustee for cancellation, or,
if surrendered to the Trustee, shall be cancelled by it, and no Securities shall
be issued in lieu thereof except as expressly required or permitted by any of
the provisions of this Indenture.  On
request of the Company at the time of such surrender, the Trustee shall deliver
to the Company canceled Securities held by the Trustee.  In the absence of such request the Trustee
may dispose of canceled Securities in accordance with its standard procedures
and deliver a certificate of disposition to the Company.  If the Company shall otherwise acquire any of
the Securities, however, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and
until the same are delivered to the Trustee for cancellation.

 

Section 2.09                            Benefits of Indenture.

 

Nothing in this Indenture or in the Securities,
express or implied, shall give or be construed to give to any Person, other
than the parties hereto and the holders of the Securities any legal or
equitable right, remedy or claim under or in respect of this Indenture, or
under any covenant, condition or provision herein contained; all such
covenants, conditions and provisions being for the sole benefit of the parties
hereto and of the holders of the Securities.

 

Section 2.10                            Authenticating Agent.

 

So long as any of the Securities of any series remain
Outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint.  Said Authenticating Agent shall be authorized
to act on behalf of the Trustee to authenticate Securities of such series
issued upon exchange, transfer or partial redemption thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder.  All references in this
Indenture to the authentication of Securities by the Trustee shall be deemed to
include authentication by an Authenticating Agent for such series.  Each Authenticating Agent shall be acceptable
to the Company and shall be a corporation that has a combined capital and
surplus, as most recently reported or determined by it, sufficient under the
laws of any jurisdiction under which it is organized or in which it is doing
business to conduct a trust business, and that is otherwise authorized under
such laws to conduct such business and is subject to supervision or examination
by federal or state authorities.  If at
any time any Authenticating Agent shall cease to be eligible in accordance with
these provisions, it shall resign immediately.

 

12

 

Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company.  The Trustee may at any time (and upon request
by the Company shall) terminate the agency of any Authenticating Agent by
giving written notice of termination to such Authenticating Agent and to the
Company.  Upon resignation, termination
or cessation of eligibility of any Authenticating Agent, the Trustee may
appoint an eligible successor Authenticating Agent acceptable to the
Company.  Any successor Authenticating
Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder as if originally
named as an Authenticating Agent pursuant hereto.

 

Section 2.11                            Global Securities.

 

(a)                                  If the Company shall establish pursuant
to Section 2.01 that the Securities of a particular series are to be
issued as a Global Security, then the Company shall execute and the Trustee
shall, in accordance with Section 2.04, authenticate and deliver, a Global
Security that (i) shall represent, and shall be denominated in an amount
equal to the aggregate principal amount of, all of the Outstanding Securities
of such series, (ii) shall be registered in the name of the Depositary or
its nominee, (iii) shall be delivered by the Trustee to the Depositary or
pursuant to the Depositary’s instruction and (iv) shall bear a legend
substantially to the following effect: “Except as otherwise provided in Section 2.11
of the Indenture, this Security may be transferred, in whole but not in part,
only to another nominee of the Depositary or to a successor Depositary or to a
nominee of such successor Depositary.”

 

(b)                                  Notwithstanding the provisions of Section 2.05,
the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05, only to another nominee of the
Depositary for such series, or to a successor Depositary for such series
selected or approved by the Company or to a nominee of such successor
Depositary.

 

(c)                                  If at any time the Depositary for a
series of the Securities notifies the Company that it is unwilling or unable to
continue as Depositary for such series or if at any time the Depositary for
such series shall no longer be registered or in good standing under the
Exchange Act, or other applicable statute or regulation, and a successor
Depositary for such series is not appointed by the Company within 90 days after
the Company receives such notice or becomes aware of such condition, as the
case may be, or if an Event of Default has occurred and is continuing and the
Company has received a request from the Depositary, this Section 2.11
shall no longer be applicable to the Securities of such series and the Company
will execute, and subject to Section 2.04, the Trustee will authenticate
and deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security.  In addition,
the Company may at any time determine that the Securities of any series shall
no longer be represented by a Global Security and that the provisions of this Section 2.11
shall no longer apply to the Securities of such series.  In such event the Company will execute and,
subject to Section 2.04, the Trustee, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate and
deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security.  Upon the
exchange of the Global 

 

13

 

Security for such Securities in definitive registered
form without coupons, in authorized denominations, the Global Security shall be
canceled by the Trustee.  Such Securities
in definitive registered form issued in exchange for the Global Security
pursuant to this Section 2.11(c) shall be registered in such names
and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee.  The Trustee shall
deliver such Securities to the Depositary for delivery to the Persons in whose
names such Securities are so registered.

 

ARTICLE 3

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

 

Section 3.01                            Redemption.

 

The Company may redeem the Securities of any series
issued hereunder on and after the dates and in accordance with the terms
established for such series pursuant to Section 2.01 hereof.

 

Section 3.02                            Notice of Redemption.

 

(a)                                  In case the Company shall desire to
exercise such right to redeem all or, as the case may be, a portion of the
Securities of any series in accordance with any right the Company reserved for
itself to do so pursuant to Section 2.01 hereof, the Company shall, or
shall cause the Trustee to, give notice of such redemption to holders of the
Securities of such series to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 90
days before the date fixed for redemption of that series to such holders at
their last addresses as they shall appear upon the Security Register, unless a
shorter period is specified in the Securities to be redeemed.  Any notice that is mailed in the manner
herein provided shall be conclusively presumed to have been duly given, whether
or not the registered holder receives the notice.  In any case, failure duly to give such notice
to the holder of any Security of any series designated for redemption in whole
or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any
other series.  In the case of any
redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with any such restriction.

 

Each such notice of redemption shall specify the date
fixed for redemption and the redemption price at which Securities of that
series are to be redeemed, and shall state that payment of the redemption price
of such Securities to be redeemed will be made at the office or agency of the
Company in the Borough of Manhattan, the City and State of New York, upon
presentation and surrender of such Securities, that interest accrued to the
date fixed for redemption will be paid as specified in said notice, that from
and after said date interest will cease to accrue and that the redemption is
for a sinking fund, if such is the case. 
If less than all the Securities of a series are to be redeemed, the
notice to the holders of Securities of that series to be redeemed in part shall
specify the particular Securities to be so redeemed.

 

14

 

In case any Security is to be redeemed in part only,
the notice that relates to such Security shall state the portion of the
principal amount thereof to be redeemed, and shall state that on and after the
redemption date, upon surrender of such Security, a new Security or Securities
of such series in principal amount equal to the unredeemed portion thereof will
be issued.

 

(b)                                  If less than all the Securities of a
series are to be redeemed, the Company shall give the Trustee at least 45 days’
notice (unless a shorter notice shall be satisfactory to the Trustee) in
advance of the date fixed for redemption as to the aggregate principal amount
of Securities of the series to be redeemed, and thereupon the Trustee shall
select, by lot or in such other manner as it shall deem appropriate and fair in
its discretion and that may provide for the selection of a portion or portions
(equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof)
of the principal amount of such Securities of a denomination larger than
$1,000, the Securities to be redeemed and shall thereafter promptly notify the
Company in writing of the numbers of the Securities to be redeemed, in whole or
in part.  The Company may, if and
whenever it shall so elect, by delivery of instructions signed on its behalf by
an Officer, instruct the Trustee or any paying agent to call all or any part of
the Securities of a particular series for redemption and to give notice of
redemption in the manner set forth in this Section, such notice to be in the
name of the Company or its own name as the Trustee or such paying agent may
deem advisable.  In any case in which
notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain
with, the Trustee or such paying agent, as the case may be, such Security
Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any
notice by mail that may be required under the provisions of this Section.

 

Section 3.03                            Payment Upon Redemption.

 

(a)                                  If the giving of notice of redemption
shall have been completed as above provided, the Securities or portions of
Securities of the series to be redeemed specified in such notice shall become
due and payable on the date and at the place stated in such notice at the
applicable redemption price, together with interest accrued to the date fixed
for redemption and interest on such Securities or portions of Securities shall
cease to accrue on and after the date fixed for redemption, unless the Company
shall default in the payment of such redemption price and accrued interest with
respect to any such Security or portion thereof.  On presentation and surrender of such
Securities on or after the date fixed for redemption at the place of payment
specified in the notice, said Securities shall be paid and redeemed at the
applicable redemption price for such series, together with interest accrued
thereon to the date fixed for redemption (but if the date fixed for redemption
is an interest payment date, the interest installment payable on such date
shall be payable to the registered holder at the close of business on the
applicable record date pursuant to Section 2.03).

 

(b)                                  Upon presentation of any Security of such
series that is to be redeemed in part only, the Company shall execute and the
Trustee shall authenticate and the office or agency where the Security is
presented shall deliver to the holder thereof, at the expense of the Company, a
new Security of the same series of authorized denominations in principal amount
equal to the unredeemed portion of the Security so presented.

 

15

 

Section 3.04                            Sinking Fund.

 

The provisions of Sections 3.04, 3.05 and 3.06 shall
be applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise specified as contemplated by Section 2.01 for
Securities of such series.

 

The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as
a “mandatory sinking fund payment,” and any payment in excess of such minimum
amount provided for by the terms of Securities of any series is herein referred
to as an “optional sinking fund payment”. 
If provided for by the terms of Securities of any series, the cash
amount of any sinking fund payment may be subject to reduction as provided in Section 3.05.  Each sinking fund payment shall be applied to
the redemption of Securities of any series as provided for by the terms of
Securities of such series.

 

Section 3.05                            Satisfaction of Sinking Fund Payments
with Securities.

 

The Company (i) may deliver Outstanding
Securities of a series and (ii) may apply as a credit Securities of a
series that have been redeemed either at the election of the Company pursuant
to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in
each case in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of such series required to be made pursuant to the
terms of such Securities as provided for by the terms of such series, provided
that such Securities have not been previously so credited.  Such Securities shall be received and
credited for such purpose by the Trustee at the redemption price specified in
such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly.

 

Section 3.06                            Redemption of Securities for Sinking
Fund.

 

Not less than 45 days prior to each sinking fund
payment date for any series of Securities (unless a shorter period shall be
satisfactory to the Trustee), the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and
will, together with such Officers’ Certificate, deliver to the Trustee any
Securities to be so delivered.  Not less
than 30 days before each such sinking fund payment date the Trustee shall
select the Securities to be redeemed upon such sinking fund payment date in the
manner specified in Section 3.02 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the
manner provided in Section 3.02. 
Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Section 3.03.

 

16

 

ARTICLE 4

COVENANTS

 

Section 4.01                            Payment of Principal, Premium and
Interest.

 

The Company will duly and punctually pay or cause to
be paid the principal of (and premium, if any) and interest on the Securities
of that series at the time and place and in the manner provided herein and
established with respect to such Securities. 
Payments of principal on the Securities may be made at the time provided
herein and established with respect to such Securities by U.S. dollar check
drawn on and mailed to the address of the Securityholder entitled thereto as
such address shall appear in the Security Register, or U.S. dollar wire
transfer to, a U.S. dollar account (such wire transfer to be made only to a
Securityholder of an aggregate principal amount of Securities of the applicable
series in excess of U.S. $2,000,000 and only if such Securityholder shall have
furnished wire instructions to the Trustee no later than 15 days prior to the
relevant payment date).  Payments of
interest on the Securities may be made at the time provided herein and
established with respect to such Securities by U.S. dollar check mailed to the
address of the Securityholder entitled thereto as such address shall appear in
the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account
(such a wire transfer to be made only to a Securityholder of an aggregate
principal amount of Securities of the applicable series in excess of U.S.
$2,000,000 and only if such Securityholder shall have furnished wire
instructions in writing to the Security Registrar and the Trustee no later than
15 days prior to the relevant payment date.

 

Section 4.02                            Maintenance of Office or Agency.

 

So long as any series of the Securities remain
Outstanding, the Company agrees to maintain an office or agency in the Borough
of Manhattan, the City and State of New York, with respect to each such series
and at such other location or locations as may be designated as provided in
this Section 4.02, where (i) Securities of that series may be
presented for payment, (ii) Securities of that series may be presented as
herein above authorized for registration of transfer and exchange, and (iii) notices
and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be given or served, such designation to continue with
respect to such office or agency until the Company shall, by written notice
signed by any officer authorized to sign an Officers’ Certificate and delivered
to the Trustee, designate some other office or agency for such purposes or any
of them.  If at any time the Company
shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, notices and
demands may be made or served at the Corporate Trust Office of the Trustee, and
the Company hereby appoints the Trustee as its agent to receive all such
presentations, notices and demands.  The
Company initially appoints the Corporate Trust Office of the Trustee located in
the Borough of Manhattan, the City of New York as its paying agent with respect
to the Securities.

 

Section 4.03                            Paying Agents.

 

(a)                                  If the Company shall appoint one or more
paying agents for all or any series of the Securities, other than the Trustee,
the Company will cause each such paying agent to 

 

17

 

execute and deliver to the Trustee an instrument in
which such agent shall agree with the Trustee, subject to the provisions of
this Section:

 

(1)                                 that it will hold all sums held by it as
such agent for the payment of the principal of (and premium, if any) or
interest on the Securities of that series (whether such sums have been paid to
it by the Company or by any other obligor of such Securities) in trust for the
benefit of the Persons entitled thereto;

 

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

 

(3)                                 that it will, at any time during the
continuance of any failure referred to in the preceding paragraph (a)(2) above,
upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held in trust by such paying agent; and

 

(4)                                 that it will perform all other duties of
paying agent as set forth in this Indenture.

 

(b)                                  If the Company shall act as its own
paying agent with respect to any series of the Securities, it will on or before
each due date of the principal of (and premium, if any) or interest on
Securities of that series, set aside, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series
until such sums shall be paid to such Persons or otherwise disposed of as
herein provided and will promptly notify the Trustee of such action, or any
failure (by it or any other obligor on such Securities) to take such
action.  Whenever the Company shall have
one or more paying agents for any series of Securities, it will, prior to each
due date of the principal of (and premium, if any) or interest on any
Securities of that series, deposit with the paying agent a sum sufficient to
pay the principal (and premium, if any) or interest so becoming due, such sum
to be held in trust for the benefit of the Persons entitled to such principal,
premium or interest, and (unless such paying agent is the Trustee) the Company
will promptly notify the Trustee of this action or failure so to act.

 

(c)                                  Notwithstanding anything in this Section to
the contrary, (i) the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 11.05, and (ii) the Company may
at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or direct any paying agent to
pay, to the Trustee all sums held in trust by the Company or such paying agent,
such sums to be held by the Trustee upon the same terms and conditions as those
upon which such sums were held by the Company or such paying agent; and, upon
such payment by the Company or any paying agent to the Trustee, the Company or
such paying agent shall be released from all further liability with respect to
such money.

 

18

 

Section 4.04                            Appointment to Fill Vacancy in Office of
Trustee.

 

The Company, whenever necessary to avoid or fill a
vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10,
a Trustee, so that there shall at all times be a Trustee hereunder.

 

Section 4.05                            Compliance with Consolidation Provisions.

 

The Company will not, while any of the Securities
remain Outstanding, consolidate with or merge into any other Person, in either
case where the Company is not the survivor of such transaction, or sell or
convey all or substantially all of its property to any other Person unless the
provisions of Article Ten hereof are complied with.

 

ARTICLE 5

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

 

Section 5.01                            Company to Furnish Trustee Names and
Addresses of Securityholders.

 

The Company will furnish or cause to be furnished to
the Trustee (a) within 15 days after each regular record date (as defined
in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities
as of such regular record date, provided that the Company shall not be
obligated to furnish or cause to furnish such list at any time that the list
shall not differ in any respect from the most recent list furnished to the
Trustee by the Company and (b) at such other times as the Trustee may
request in writing within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is furnished; provided, however, that, in either
case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar.

 

Section 5.02                            Preservation Of Information;
Communications With Securityholders.

 

(a)                                  The Trustee shall preserve, in as current
a form as is reasonably practicable, all information as to the names and
addresses of the holders of Securities contained in the most recent list
furnished to it as provided in Section 5.01 and as to the names and
addresses of holders of Securities received by the Trustee in its capacity as
Security Registrar (if acting in such capacity).

 

(b)                                  The Trustee may destroy any list furnished
to it as provided in Section 5.01 upon receipt of a new list so furnished.

 

(c)                                  Securityholders may communicate as
provided in Section 312(b) of the Trust Indenture Act with other
Securityholders with respect to their rights under this Indenture or under the
Securities, and, in connection with any such communications, the Trustee shall
satisfy its obligations under Section 312(b) of the Trust Indenture
Act in accordance with the provisions of Section 312(b) of the Trust
Indenture Act.

 

19

 

Section 5.03                            Reports by the Company.

 

The Company covenants and agrees to provide a copy to
the Trustee, after the Company files the same with the Securities and Exchange
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
Securities and Exchange Commission may from time to time by rules and
regulations prescribe) that the Company files with the Securities and Exchange
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act; provided, however, the Company shall not be required to deliver
to the Trustee any materials for which the Company has sought and received
confidential treatment by the Securities and Exchange Commission.

 

Section 5.04                            Reports by the Trustee.

 

(a)                                  If required by Section 313(a) of
the Trust Indenture Act, the Trustee, within sixty (60) days after each May 1,
shall transmit by mail, first class postage prepaid, to the Securityholders, as
their names and addresses appear upon the Security Register, a brief report
dated as of such May 1, which complies with Section 313(a) of
the Trust Indenture Act.

 

(b)                                  The Trustee shall comply with Section 313(b) and
313(c) of the Trust Indenture Act.

 

(c)                                  A copy of each such report shall, at the
time of such transmission to Securityholders, be filed by the Trustee with the
Company, with each securities exchange upon which any Securities are listed (if
so listed) and also with the Securities and Exchange Commission.  The Company agrees to notify the Trustee when
any Securities become listed on any securities exchange.

 

ARTICLE 6

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

 

Section 6.01                            Events of Default.

 

(a)                                  Whenever used herein with respect to
Securities of a particular series, “Event of Default” means any one or more of
the following events that has occurred and is continuing:

 

(1)                                 the Company defaults in the payment of
any installment of interest upon any of the Securities of that series, as and
when the same shall become due and payable, and such default continues for a
period of 90 days; provided, however, that a valid extension of an interest
payment period by the Company in accordance with the terms of any indenture
supplemental hereto shall not constitute a default in the payment of interest
for this purpose;

 

(2)                                 the Company defaults in the payment of
the principal of (or premium, if any, on) any of the Securities of that series
as and when the same shall become due and payable whether at maturity, upon
redemption, by declaration or otherwise, or in any payment required by any
sinking or analogous fund established with respect to that series; provided,
however, that a valid extension of the maturity of such Securities in
accordance with 

 

20

 

the terms of any indenture supplemental hereto shall
not constitute a default in the payment of principal or premium, if any;

 

(3)                                 the Company fails to observe or perform
any other of its covenants or agreements with respect to that series contained
in this Indenture or otherwise established with respect to that series of
Securities pursuant to Section 2.01 hereof (other than a covenant or
agreement that has been expressly included in this Indenture solely for the
benefit of one or more series of Securities other than such series) for a
period of 90 days after the date on which written notice of such failure,
requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by
registered or certified mail, or to the Company and the Trustee by the holders
of at least 25% in principal amount of the Securities of that series at the
time Outstanding;

 

(4)                                 the Company pursuant to or within the
meaning of any Bankruptcy Law (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 or (iv) makes a general assignment for the benefit of its
creditors; or

 

(5)                                 a court of competent jurisdiction enters
an order under any Bankruptcy Law that (i) is for relief against the
Company in an involuntary case, (ii) appoints a Custodian of the Company
for all or substantially all of its property or (iii) orders the
liquidation of the Company, and the order or decree remains unstayed and in
effect for 90 days.

 

(b)                                  In each and every such case (other than
an Event of Default specified in clause (4) or clause (5) above),
unless the principal of all the Securities of that series shall have already
become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding
hereunder, by notice in writing to the Company (and to the Trustee if given by
such Securityholders), may declare the principal of (and premium, if any, on)
and accrued and unpaid interest on all the Securities of that series to be due
and payable immediately, and upon any such declaration the same shall become
and shall be immediately due and payable. 
If an Event of Default specified in clause (4) or clause (5) above
occurs, the principal of and accrued and unpaid interest on all the Securities
of that series shall automatically be immediately due and payable without any
declaration or other act on the part of the Trustee or the holders of the
Securities.

 

(c)                                  At any time after the principal of (and
premium, if any, on) and accrued and unpaid interest on the Securities of that
series shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as
hereinafter provided, the holders of a majority in aggregate principal amount
of the Securities of that series then Outstanding hereunder, by written notice
to the Company and the Trustee, may rescind and annul such declaration and its
consequences if: (i) the Company has paid or deposited with the Trustee a
sum sufficient to pay all matured installments of interest upon all the
Securities of that series and the principal of (and premium, if any, on) any
and all Securities of that series that shall have become due otherwise than by
acceleration (with interest upon such principal and premium, if any, and, to
the extent that such payment is enforceable under applicable law, upon overdue
installments of interest, at the rate per annum expressed in 

 

21

 

the Securities of that series to the date of such
payment or deposit) and the amount payable to the Trustee under Section 7.06,
and (ii) any and all Events of Default under the Indenture with respect to
such series, other than the nonpayment of principal on (and premium, if any,
on) and accrued and unpaid interest on Securities of that series that shall not
have become due by their terms, shall have been remedied or waived as provided
in Section 6.06.

 

No such rescission and annulment shall extend to or
shall affect any subsequent default or impair any right consequent thereon.

 

(d)                                  In case the Trustee shall have proceeded
to enforce any right with respect to Securities of that series under this
Indenture and such proceedings shall have been discontinued or abandoned
because of such rescission or annulment or for any other reason or shall have
been determined adversely to the Trustee, then and in every such case, subject
to any determination in such proceedings, the Company and the Trustee shall be
restored respectively to their former positions and rights hereunder, and all
rights, remedies and powers of the Company and the Trustee shall continue as
though no such proceedings had been taken.

 

Section 6.02                            Collection of Indebtedness and Suits for
Enforcement by Trustee.

 

(a)                                  The Company covenants that (i) in
case it shall default in the payment of any installment of interest on any of
the Securities of a series, or in any payment required by any sinking or
analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a
period of 90 days, or (ii) in case it shall default in the payment of the
principal of (or premium, if any, on) any of the Securities of a series when
the same shall have become due and payable, whether upon maturity of the
Securities of a series or upon redemption or upon declaration or otherwise
then, upon demand of the Trustee, the Company will pay to the Trustee, for the
benefit of the holders of the Securities of that series, the whole amount that
then shall have been become due and payable on all such Securities for
principal (and premium, if any) or interest, or both, as the case may be, with
interest upon the overdue principal (and premium, if any) and (to the extent that
payment of such interest is enforceable under applicable law) upon overdue
installments of interest at the rate per annum expressed in the Securities of
that series; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, and the amount
payable to the Trustee under Section 7.06.

 

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

 

(c)                                  In case of any receivership, insolvency,
liquidation, bankruptcy, reorganization, readjustment, arrangement, composition
or judicial proceedings affecting the Company, or its creditors or property,
the Trustee shall have power to intervene in such 

 

22

 

proceedings and take any action therein that may be
permitted by the court and shall (except as may be otherwise provided by law)
be entitled to file such proofs of claim and other papers and documents as may
be necessary or advisable in order to have the claims of the Trustee and of the
holders of Securities of such series allowed for the entire amount due and
payable by the Company under the Indenture at the date of institution of such
proceedings and for any additional amount that may become due and payable by
the Company after such date, and to collect and receive any moneys or other
property payable or deliverable on any such claim, and to distribute the same
after the deduction of the amount payable to the Trustee under Section 7.06;
and any receiver, assignee or trustee in bankruptcy or reorganization is hereby
authorized by each of the holders of Securities of such 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 such Securityholders, to pay to the
Trustee any amount due it under Section 7.06.

 

(d)                                  All rights of action and of asserting
claims under this Indenture, or under any of the terms established with respect
to Securities of that series, may be enforced by the Trustee without the
possession of any of such Securities, or the production thereof at any trial or
other proceeding relative thereto, and any such suit or proceeding instituted
by the Trustee shall be brought in its own name as trustee of an express trust,
and any recovery of judgment shall, after provision for payment to the Trustee
of any amounts due under Section 7.06, be for the ratable benefit of the
holders of the Securities of such series.

 

In case of an Event of Default hereunder, the Trustee
may in its discretion proceed to protect and enforce the rights vested in it by
this Indenture by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any of such rights, either at law or
in equity or in bankruptcy or otherwise, whether for the specific enforcement
of any covenant or agreement contained in the Indenture or in aid of the
exercise of any power granted in this Indenture, or to enforce any other legal
or equitable right vested in the Trustee by this Indenture or by law.

 

Nothing contained herein shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities of that series or the rights of any holder
thereof or to authorize the Trustee to vote in respect of the claim of any
Securityholder in any such proceeding.

 

Section 6.03                            Application of Moneys Collected.

 

Any moneys collected by the Trustee pursuant to this Article with
respect to a particular series of Securities shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the
distribution of such moneys on account of principal (or premium, if any) or
interest, upon presentation of the Securities of that series, and notation
thereon of the payment, if only partially paid, and upon surrender thereof if
fully paid:

 

FIRST:  To the
payment of reasonable costs and expenses of collection and of all amounts
payable to the Trustee under Section 7.06;

 

23

 

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

 

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

 

Section 6.04                            Limitation on Suits.

 

No holder of any Security of any series shall have any
right by virtue or by availing of any provision of this Indenture to institute
any suit, action or proceeding in equity or at law upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or
for any other remedy hereunder, unless (i) such holder previously shall
have given to the Trustee written notice of an Event of Default and of the
continuance thereof with respect to the Securities of such series specifying
such Event of Default, as hereinbefore provided; (ii) the holders of not
less than 25% in aggregate principal amount of the Securities of such series
then Outstanding shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder; (iii) such
holder or holders shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred
therein or thereby; (iv) the Trustee for 90 days after its receipt of such
notice, request and offer of indemnity, shall have failed to institute any such
action, suit or proceeding and (v) during such 90 day period, the holders
of a majority in principal amount of the Securities of that series do not give
the Trustee a direction inconsistent with the request.

 

Notwithstanding anything contained herein to the
contrary or any other provisions of this Indenture, the right of any holder of
any Security to receive payment of the principal of (and premium, if any) and
interest on such Security, as therein provided, on or after the respective due
dates expressed in such Security (or in the case of redemption, on the
redemption date), or to institute suit for the enforcement of any such payment
on or after such respective dates or redemption date, shall not be impaired or
affected without the consent of such holder and by accepting a Security
hereunder it is expressly understood, intended and covenanted by the taker and
holder of every Security of such series with every other such taker and holder
and the Trustee, that no one or more holders of Securities of such series shall
have any right in any manner whatsoever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of the
holders of any other of such Securities, or to obtain or seek to obtain priority
over or preference to any other such holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all holders of Securities of such series.  For the protection and enforcement of the
provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity.

 

Section 6.05                            Rights and Remedies Cumulative; Delay or
Omission Not Waiver.

 

(a)                                  Except as otherwise provided in Section 2.07,
all powers and remedies given by this Article to the Trustee or to the
Securityholders shall, to the extent permitted by law, 

 

24

 

be deemed cumulative and not exclusive of any other
powers and remedies available to the Trustee or the holders of the Securities,
by judicial proceedings or otherwise, to enforce the performance or observance
of the covenants and agreements contained in this Indenture or otherwise
established with respect to such Securities.

 

(b)                                  No delay or omission of the Trustee or of
any holder of any of the Securities to exercise any right or power accruing
upon any Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such
default or an acquiescence therein; and, subject to the provisions of Section 6.04,
every power and remedy given by this Article or by law to the Trustee or
the Securityholders may be exercised from time to time, and as often as shall
be deemed expedient, by the Trustee or by the Securityholders.

 

Section 6.06                            Control by Securityholders.

 

The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding, determined in
accordance with Section 8.04, shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred on the Trustee with respect
to such series; provided, however, that such direction shall not be in conflict
with any rule of law or with this Indenture.  Subject to the provisions of Section 7.01,
the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer or officers of the
Trustee, determine that the proceeding so directed, subject to the Trustee’s
duties under the Trust Indenture Act, would involve the Trustee in personal
liability or might be unduly prejudicial to the Securityholders not involved in
the proceeding.  The holders of a
majority in aggregate principal amount of the Securities of any series at the
time Outstanding affected thereby, determined in accordance with Section 8.04,
may on behalf of the holders of all of the Securities of such series waive any
past default in the performance of any of the covenants contained herein or
established pursuant to Section 2.01 with respect to such series and its
consequences, except a default in the payment of the principal of, or premium,
if any, or interest on, any of the Securities of that series as and when the
same shall become due by the terms of such Securities otherwise than by
acceleration (unless such default has been cured and a sum sufficient to pay
all matured installments of interest and principal and any premium has been
deposited with the Trustee (in accordance with Section 6.01(c)).  Upon any such waiver, the default covered
thereby shall be deemed to be cured for all purposes of this Indenture and the
Company, the Trustee and the holders of the Securities of such series shall be
restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other default or impair any right
consequent thereon.

 

Section 6.07                            Undertaking to Pay Costs.

 

All parties to this Indenture agree, and each holder
of any Securities by such holder’s acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit,
and that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees, against any party litigant in such

 

25

 

suit, having due regard to the merits and good faith
of the claims or defenses made by such party litigant; but the provisions of
this Section shall not apply to any suit instituted by the Trustee, to any
suit instituted by any Securityholder, or group of Securityholders, holding
more than 10% in aggregate principal amount of the Outstanding Securities of
any series, or to any suit instituted by any Securityholder for the enforcement
of the payment of the principal of (or premium, if any) or interest on any
Security of such series, on or after the respective due dates expressed in such
Security or established pursuant to this Indenture.

 

ARTICLE
7

CONCERNING THE TRUSTEE

 

Section 7.01                            Certain Duties and Responsibilities of
Trustee.

 

(a)                                  The Trustee, prior to the occurrence of
an Event of Default with respect to the Securities of a series and after the
curing of all Events of Default with respect to the Securities of that series
that may have occurred, shall undertake to perform with respect to the
Securities of such series such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants shall be read into this
Indenture against the Trustee.  In case
an Event of Default with respect to the Securities of a series has occurred
(that has not been cured or waived), the Trustee shall exercise with respect to
Securities of that series such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a
prudent man would exercise or use under the circumstances in the conduct of his
own affairs.

 

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

 

(i)                                    prior to the occurrence of an Event of
Default with respect to the Securities of a series and after the curing or
waiving of all such Events of Default with respect to that series that may have
occurred:

 

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

 

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

 

26

 

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

 

(iii)                            the Trustee shall not be liable with
respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the holders of not less than a majority in
principal amount of the Securities of any series at the time Outstanding
relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred
upon the Trustee under this Indenture with respect to the Securities of that
series; and

 

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

 

Section 7.02                            Certain Rights of Trustee.

 

Except
as otherwise provided in Section 7.01:

 

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

 

(b)                                  Any request, direction, order or demand
of the Company mentioned herein shall be sufficiently evidenced by a Board
Resolution or an instrument signed in the name of the Company by any authorized
officer of the Company (unless other evidence in respect thereof is
specifically prescribed herein);

 

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

 

(d)                                  The Trustee shall be under no obligation
to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the Securityholders pursuant to the
provisions of this Indenture, unless such Securityholders shall have offered to
the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that may be incurred therein or thereby; nothing contained herein
shall, however, relieve the Trustee of the obligation, upon the occurrence of
an Event of Default with respect to a series of the Securities (that has not
been cured or waived), to exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and to use the
same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs;

 

27

 

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

 

(f)                                    The Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order,
approval, bond, security, or other papers or documents, unless requested in
writing so to do by the holders of not less than a majority in principal amount
of the Outstanding Securities of the particular series affected thereby
(determined as provided in Section 8.04); provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is,
in the opinion of the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding.  The reasonable expense
of every such examination shall be paid by the Company or, if paid by the
Trustee, shall be repaid by the Company upon demand; and

 

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

 

In
addition, the Trustee shall not be deemed to have knowledge of any Default or
Event of Default except (1) any Event of Default occurring pursuant to
Sections 6.01(a)(1) and 6.01(a)(2) or (2) any Default or Event
of Default of which the Trustee shall have received written notification in the
manner set forth in this Indenture or a Responsible Officer of the Trustee
shall have obtained actual knowledge. 
Delivery of reports, information and documents to the Trustee under Section 5.03
is for informational purposes only and the information and the Trustee’s
receipt of the foregoing shall not constitute constructive notice of any
information contained therein, or determinable from information contained
therein including the Company’s compliance with any of their covenants
thereunder (as to which the Trustee is entitled to rely exclusively on an
Officers’ Certificate).

 

Section 7.03                            Trustee Not Responsible for Recitals or
Issuance or Securities.

 

(a)                                  The recitals contained herein and in the
Securities shall be taken as the statements of the Company, and the Trustee
assumes no responsibility for the correctness of the same.

 

(b)                                  The Trustee makes no representations as
to the validity or sufficiency of this Indenture or of the Securities.

 

(c)                                  The Trustee shall not be accountable for
the use or application by the Company of any of the Securities or of the
proceeds of such Securities, or for the use or application of any moneys paid
over by the Trustee in accordance with any provision of this Indenture or
established pursuant to Section 2.01, or for the use or application of any
moneys received by any paying agent other than the Trustee.

 

28

 

Section 7.04         May Hold Securities.

 

The
Trustee or any paying agent or Security Registrar, in its individual or any
other capacity, may become the owner or pledgee of Securities with the same
rights it would have if it were not Trustee, paying agent or Security
Registrar.

 

Section 7.05         Moneys Held in Trust.

 

Subject
to the provisions of Section 11.05, all moneys received by the Trustee
shall, until used or applied as herein provided, be held in trust for the
purposes for which they were received, but need not be segregated from other
funds except to the extent required by law. 
The Trustee shall be under no liability for interest on any moneys
received by it hereunder except such as it may agree with the Company to pay
thereon.

 

Section 7.06         Compensation and Reimbursement.

 

(a)           The Company covenants and agrees to pay
to the Trustee, and the Trustee shall be entitled to, such reasonable
compensation (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust) as the Company and the
Trustee may from time to time agree in writing, for all services rendered by it
in the execution of the trusts hereby created and in the exercise and
performance of any of the powers and duties hereunder of the Trustee, and,
except as otherwise expressly provided herein, the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with
any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not
regularly in its employ), except any such expense, disbursement or advance as
may arise from its negligence or bad faith and except as the Company and
Trustee may from time to time agree in writing. 
The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any
loss, liability or expense incurred without negligence or bad faith on the part
of the Trustee and arising out of or in connection with the acceptance or
administration of this trust, including the reasonable costs and expenses of
defending itself against any claim of liability in the premises.

 

(b)           The obligations of the Company under this
Section to compensate and indemnify the Trustee and to pay or reimburse
the Trustee for reasonable expenses, disbursements and advances shall
constitute additional indebtedness hereunder. 
Such additional indebtedness shall be secured by a lien prior to that of
the Securities upon all property and funds held or collected by the Trustee as
such, except funds held in trust for the benefit of the holders of particular
Securities.

 

Section 7.07         Reliance on Officers’ Certificate.

 

Except
as otherwise provided in Section 7.01, whenever in the administration of
the provisions of this Indenture the Trustee shall deem it reasonably necessary
or desirable that a matter be proved or established prior to taking or
suffering or omitting to take any action hereunder, such matter (unless other
evidence in respect thereof be herein specifically prescribed) may, in the
absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to
the Trustee and 

 

29

 

such certificate, in the absence of negligence or bad
faith on the part of the Trustee, shall be full warrant to the Trustee for any
action taken, suffered or omitted to be taken by it under the provisions of
this Indenture upon the faith thereof.

 

Section 7.08         Disqualification; Conflicting
Interests.

 

If the
Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of
the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section 310(b) of the Trust Indenture
Act.

 

Section 7.09         Corporate Trustee Required;
Eligibility.

 

There
shall at all times be a Trustee with respect to the Securities issued hereunder
which shall at all times be a corporation organized and doing business under
the laws of the United States of America or any state or territory thereof or
of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Securities and Exchange Commission, authorized under such
laws to exercise corporate trust powers, having a combined capital and surplus
of at least fifty million U.S. dollars ($50,000,000), and subject to
supervision or examination by federal, state, territorial, or District of
Columbia authority.

 

If
such corporation or other Person publishes reports of condition at least
annually, pursuant to law or to the requirements of the aforesaid supervising
or examining authority, then for the purposes of this Section, the combined
capital and surplus of such corporation or other Person shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published.  The Company may
not, nor may any Person directly or indirectly controlling, controlled by, or
under common control with the Company, serve as Trustee.  In case at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Trustee
shall resign immediately in the manner and with the effect specified in Section 7.10.

 

Section 7.10         Resignation and Removal; Appointment of
Successor.

 

(a)           The Trustee or any successor hereafter
appointed may at any time resign with respect to the Securities of one or more
series by giving written notice thereof to the Company and by transmitting
notice of resignation by mail, first class postage prepaid, to the
Securityholders of such series, as their names and addresses appear upon the
Security Register.  Upon receiving such
notice of resignation, the Company shall promptly appoint a successor trustee
with respect to Securities of such series by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall
be delivered to the resigning Trustee and one copy to the successor
trustee.  If no successor trustee shall
have been so appointed and have accepted appointment within 30 days after the
mailing of such notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor trustee with
respect to Securities of such series, or any Securityholder of that series who
has been a bona fide holder of a Security or Securities for at least six months
may on behalf of himself and all others similarly situated, petition any such
court for the appointment of a successor trustee.  Such court may thereupon after such notice,
if any, as it may deem proper and prescribe, appoint a successor trustee.

 

30

 

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

 

(i)            the Trustee shall fail to comply with the
provisions of Section 7.08 after written request therefor by the Company
or by any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months; or

 

(ii)           the Trustee shall cease to be eligible in
accordance with the provisions of Section 7.09 and shall fail to resign
after written request therefor by the Company or by any such Securityholder; or

 

(iii)         the Trustee shall become incapable of
acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary
bankruptcy proceeding, or a receiver of the Trustee or of its property shall be
appointed or consented to, or any public officer shall take charge or control
of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation; then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and
one copy to the successor trustee, or any Securityholder who has been a bona
fide holder of a Security or Securities for at least six months may, on behalf
of that holder and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor trustee.  Such court may
thereupon after such notice, if any, as it may deem proper and prescribe, remove
the Trustee and appoint a successor trustee.

 

(c)                                  The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding may at
any time remove the Trustee with respect to such series by so notifying the
Trustee and the Company and may appoint a successor Trustee for such series
with the consent of the Company.

 

(d)                                  Any resignation or removal of the Trustee
and appointment of a successor trustee with respect to the Securities of a
series pursuant to any of the provisions of this Section shall become effective
upon acceptance of appointment by the successor trustee as provided in Section 7.11.

 

(e)                                  Any successor trustee appointed pursuant
to this Section may be appointed with respect to the Securities of one or
more series or all of such series, and at any time there shall be only one
Trustee with respect to the Securities of any particular series.

 

Section 7.11                            Acceptance of Appointment By Successor.

 

(a)                                  In case of the appointment hereunder of a
successor trustee with respect to all Securities, every such successor trustee
so appointed shall execute, acknowledge and deliver to the Company and to the
retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such
successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee;
but, on the request of the Company or the successor trustee, such retiring
Trustee shall, upon payment of its charges, execute and deliver an instrument
transferring to such successor trustee all the rights, powers, and trusts of
the retiring 

 

31

 

Trustee and shall duly assign, transfer and deliver to
such successor trustee all property and money held by such retiring Trustee
hereunder.

 

(b)           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 wherein each successor trustee shall accept such
appointment and which (i) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, 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, (ii) shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (iii) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series
to which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, 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, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor trustee relates.

 

(c)           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 (a) or (b) of this
Section, as the case may be.

 

(d)           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.

 

(e)           Upon acceptance of appointment by a
successor trustee as provided in this Section, the Company shall transmit
notice of the succession of such trustee hereunder by mail, first class postage
prepaid, to the Securityholders, as their names and addresses appear upon the
Security Register.  If the Company fails
to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be
transmitted at the expense of the Company.

 

32

 

Section 7.12         Merger, Conversion, Consolidation or
Succession to Business.

 

Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, or any corporation
succeeding to the corporate trust business of the Trustee, including the
administration of the trust created by this Indenture, shall be the successor
of the Trustee hereunder, provided that such corporation shall be qualified
under the provisions of Section 7.08 and eligible under the provisions of Section 7.09,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto, anything herein to the contrary
notwithstanding.  In case any Securities
shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities
so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.

 

Section 7.13         Preferential Collection of Claims
Against the Company.

 

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

 

Section 7.14         Notice of Default

 

If any
Default or any Event of Default occurs and is continuing and if such Default or
Event of Default is known to a Responsible Officer of the Trustee, the Trustee
shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of
the Trust Indenture Act notice of the Default or Event of Default within 45
days after it occurs, unless such Default or Event of Default has been cured; provided, however, that, except in the
case of a default in the payment of the principal of (or premium, if any) or
interest on any Security, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good
faith determine that the withholding of such notice is in the interest of the
Securityholders.

 

ARTICLE
8

CONCERNING THE SECURITYHOLDERS

 

Section 8.01         Evidence of Action by Securityholders.

 

Whenever
in this Indenture it is provided that the holders of a majority or specified
percentage in aggregate principal amount of the Securities of a particular
series may take any action (including the making of any demand or request, the
giving of any notice, consent or waiver or the taking of any other action), the
fact that at the time of taking any such action the holders of such majority or
specified percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such
holders of Securities of that series in person or by agent or proxy appointed
in writing.

 

33

 

If the
Company shall solicit from the Securityholders of any series any request,
demand, authorization, direction, notice, consent, waiver or other action, the
Company may, at its option, as evidenced by an Officers’ Certificate, fix in
advance a record date for such series for the determination of Securityholders
entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other action, but the Company shall have no obligation to do
so.  If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other
action may be given before or after the record date, but only the
Securityholders of record at the close of business on the record date shall be
deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of Outstanding Securities of that
series have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other action, and for that
purpose the Outstanding Securities of that series shall be computed as of the
record date; provided, however, that no such authorization, agreement or
consent by such Securityholders on the record date shall be deemed effective
unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date.

 

Section 8.02         Proof of Execution by Securityholders.

 

Subject
to the provisions of Section 7.01, proof of the execution of any
instrument by a Securityholder (such proof will not require notarization) or
his agent or proxy and proof of the holding by any Person of any of the
Securities shall be sufficient if made in the following manner:

 

(a)           The fact and date of the execution by any
such Person of any instrument may be proved in any reasonable manner acceptable
to the Trustee.

 

(b)           The ownership of Securities shall be
proved by the Security Register of such Securities or by a certificate of the
Security Registrar thereof.

 

The
Trustee may require such additional proof of any matter referred to in this Section as
it shall deem necessary.

 

Section 8.03         Who May be Deemed Owners.

 

Prior
to the due presentment for registration of transfer of any Security, the
Company, the Trustee, any paying agent and any Security Registrar may deem and
treat the Person in whose name such Security shall be registered upon the books
of the Company as the absolute owner of such Security (whether or not such
Security shall be overdue and notwithstanding any notice of ownership or
writing thereon made by anyone other than the Security Registrar) for the
purpose of receiving payment of or on account of the principal of, premium, if
any, and (subject to Section 2.03) interest on such Security and for all
other purposes; and neither the Company nor the Trustee nor any paying agent
nor any Security Registrar shall be affected by any notice to the contrary.

 

Section 8.04         Certain Securities Owned by Company
Disregarded.

 

In
determining whether the holders of the requisite aggregate principal amount of
Securities of a particular series have concurred in any direction, consent or
waiver under this 

 

34

 

Indenture, the Securities of that series that are
owned by the Company or any other obligor on the Securities of that series or
by any Person directly or indirectly controlling or controlled by or under
common control with the Company or any other obligor on the Securities of that
series shall be disregarded and deemed not to be Outstanding for the purpose of
any such determination, except that for the purpose of determining whether the
Trustee shall be protected in relying on any such direction, consent or waiver,
only Securities of such series that the Trustee actually knows are so owned
shall be so disregarded.  The Securities
so owned that have been pledged in good faith may be regarded as Outstanding
for the purposes of this Section, if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
the Company or any such other obligor. 
In case of a dispute as to such right, any decision by the Trustee taken
upon the advice of counsel shall be full protection to the Trustee.

 

Section 8.05         Actions Binding on Future
Securityholders.

 

At any
time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01,
of the taking of any action by the holders of the majority or percentage in
aggregate principal amount of the Securities of a particular series specified
in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the
holders of which have consented to such action may, by filing written notice
with the Trustee, and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Security.  Except as aforesaid any such action taken by
the holder of any Security shall be conclusive and binding upon such holder and
upon all future holders and owners of such Security, and of any Security issued
in exchange therefor, on registration of transfer thereof or in place thereof,
irrespective of whether or not any notation in regard thereto is made upon such
Security.  Any action taken by the
holders of the majority or percentage in aggregate principal amount of the
Securities of a particular series specified in this Indenture in connection
with such action shall be conclusively binding upon the Company, the Trustee
and the holders of all the Securities of that series.

 

ARTICLE
9

SUPPLEMENTAL INDENTURES

 

Section 9.01         Supplemental Indentures Without the
Consent of Securityholders.

 

In
addition to any supplemental indenture otherwise authorized by this Indenture,
the Company and the Trustee may from time to time and at any time enter into an
indenture or indentures supplemental hereto (which shall conform to the
provisions of the Trust Indenture Act as then in effect), without the consent
of the Securityholders, for one or more of the following purposes:

 

(a)           to cure any ambiguity, defect, or
inconsistency herein or in the Securities of any series;

 

(b)           to comply with Article Ten;

 

35

 

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

 

(d)           to add to the covenants, restrictions,
conditions or provisions relating to the Company for the benefit of the holders
of all or any series of Securities (and if such covenants, restrictions,
conditions or provisions are to be for the benefit of less than all series of
Securities, stating that such covenants, restrictions, conditions or provisions
are expressly being included solely for the benefit of such series), to make
the occurrence, or the occurrence and the continuance, of a default in any such
additional covenants, restrictions, conditions or provisions an Event of
Default, or to surrender any right or power herein conferred upon the Company;

 

(e)           to add to, delete from, or revise the
conditions, limitations, and restrictions on the authorized amount, terms, or
purposes of issue, authentication, and delivery of Securities, as herein set
forth;

 

(f)            to make any change that does not
adversely affect the rights of any Securityholder in any material respect;

 

(g)           to provide for the issuance of and
establish the form and terms and conditions of the Securities of any series as
provided in Section 2.01, to establish the form of any certifications
required to be furnished pursuant to the terms of this Indenture or any series
of Securities, or to add to the rights of the holders of any series of
Securities;

 

(h)           to evidence and provide for the
acceptance of appointment hereunder by a successor trustee; or

 

(i)            to comply with any requirements of the
Securities and Exchange Commission or any successor in connection with the
qualification of this Indenture under the Trust Indenture Act.

 

The
Trustee is hereby authorized to join with the Company in the execution of any
such supplemental indenture, and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be
obligated to enter into any such supplemental indenture that affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

Any
supplemental indenture authorized by the provisions of this Section may be
executed by the Company and the Trustee without the consent of the holders of
any of the Securities at the time Outstanding, notwithstanding any of the
provisions of Section 9.02.

 

Section 9.02         Supplemental Indentures With Consent of
Securityholders.

 

With
the consent (evidenced as provided in Section 8.01) of the holders of not
less than a majority in aggregate principal amount of the Securities of each
series affected by such supplemental indenture or indentures at the time
Outstanding, the Company, when authorized by a Board Resolution, and the
Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust
Indenture Act as then in effect) for the purpose of adding any provisions to or
changing in any 

 

36

 

manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not
covered by Section 9.01 the rights of the holders of the Securities of
such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the holders of each Security then
Outstanding and affected thereby, (a) extend the fixed maturity of any
Securities of any series, or reduce the principal amount thereof, or reduce the
rate or extend the time of payment of interest thereon, or reduce any premium
payable upon the redemption thereof or (b) reduce the aforesaid percentage
of Securities, the holders of which are required to consent to any such
supplemental indenture.

 

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

 

Section 9.03         Effect of Supplemental Indentures.

 

Upon
the execution of any supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, this Indenture shall, with respect to such series, be
and be deemed to be modified and amended in accordance therewith and the
respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities
of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.

 

Section 9.04         Securities Affected by Supplemental
Indentures.

 

Securities
of any series affected by a supplemental indenture, authenticated and delivered
after the execution of such supplemental indenture pursuant to the provisions
of this Article or of Section 10.01, may bear a notation in form
approved by the Company, provided such form meets the requirements of any
securities exchange upon which such series may be listed, as to any matter
provided for in such supplemental indenture. 
If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors, to any
modification of this Indenture contained in any such supplemental indenture may
be prepared by the Company, authenticated by the Trustee and delivered in exchange
for the Securities of that series then Outstanding.

 

Section 9.05         Execution of Supplemental Indentures.

 

Upon
the request of the Company, accompanied by its Board Resolutions authorizing
the execution of any such supplemental indenture, and upon the filing with the
Trustee of evidence of the consent of Securityholders required to consent
thereto as aforesaid, the Trustee shall join with the Company in the execution
of such supplemental indenture unless such supplemental indenture affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion but shall not be obligated to
enter into such supplemental indenture. 
The Trustee, subject to the provisions of Section 7.01, may receive
an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that
any supplemental indenture executed pursuant to this Article is authorized
or permitted by, and conforms to, the 

 

37

 

terms of this Article and that it is proper for
the Trustee under the provisions of this Article to join in the execution
thereof; provided, however, that such Officers’ Certificate or Opinion of
Counsel need not be provided in connection with the execution of a supplemental
indenture that establishes the terms of a series of Securities pursuant to Section 2.01
hereof.

 

Promptly
after the execution by the Company and the Trustee of any supplemental
indenture pursuant to the provisions of this Section, the Trustee shall
transmit by mail, first class postage prepaid, a notice, setting forth in
general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby as their names and addresses
appear upon the Security Register.  Any
failure of the Trustee to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental
indenture.

 

ARTICLE
10

SUCCESSOR ENTITY

 

Section 10.01       Company May Consolidate, Etc.

 

Except
as provided pursuant to Section 2.01 pursuant to a Board Resolution, and
set forth in an Officers’ Certificate, or established in one or more indentures
supplemental to this Indenture, nothing contained in this Indenture shall
prevent any consolidation or merger of the Company with or into any other
Person (whether or not affiliated with the Company) or successive
consolidations or mergers in which the Company or its successor or successors
shall be a party or parties, or shall prevent any sale, conveyance, transfer or
other disposition of the property of the Company or its successor or successors
as an entirety, or substantially as an entirety, to any other corporation
(whether or not affiliated with the Company or its successor or successors)
authorized to acquire and operate the same; provided, however, (a) the
Company hereby covenants and agrees that, upon any such consolidation or merger
(in each case, if the Company is not the survivor of such transaction), sale,
conveyance, transfer or other disposition, the due and punctual payment of the
principal of (premium, if any) and interest on all of the Securities of all
series in accordance with the terms of each series, according to their tenor,
and the due and punctual performance and observance of all the covenants and
conditions of this Indenture with respect to each series or established with
respect to such series pursuant to Section 2.01 to be kept or performed by
the Company shall be expressly assumed, by supplemental indenture (which shall
conform to the provisions of the Trust Indenture Act, as then in effect)
reasonably satisfactory in form to the Trustee executed and delivered to the
Trustee by the entity formed by such consolidation, or into which the Company
shall have been merged, or by the entity which shall have acquired such
property and (b) in the event that the Securities of any series then
Outstanding are convertible into or exchangeable for shares of common stock or
other securities of the Company, such entity shall, by such supplemental indenture,
make provision so that the Securityholders of Securities of that series shall
thereafter be entitled to receive upon conversion or exchange of such
Securities the number of securities or property to which a holder of the number
of shares of common stock or other securities of the Company deliverable upon
conversion or exchange of those Securities would have been entitled had such
conversion or exchange occurred immediately prior to such consolidation,
merger, sale, conveyance, transfer or other disposition.

 

38

 

Section 10.02       Successor Entity Substituted.

 

(a)           In case of any such consolidation,
merger, sale, conveyance, transfer or other disposition and upon the assumption
by the successor entity by supplemental indenture, executed and delivered to
the Trustee and satisfactory in form to the Trustee, of the obligations set
forth under Section 10.01 on all of the Securities of all series
Outstanding, such successor entity shall succeed to and be substituted for the
Company with the same effect as if it had been named as the Company herein, and
thereupon the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities.

 

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

 

(c)           Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of
any Person into the Company where the Company is the survivor of such
transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated
with the Company).

 

Section 10.03       Evidence of Consolidation, Etc. to
Trustee.

 

The
Trustee, subject to the provisions of Section 7.01, may receive an
Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any
such consolidation, merger, sale, conveyance, transfer or other disposition,
and any such assumption, comply with the provisions of this Article.

 

ARTICLE
11

SATISFACTION AND DISCHARGE

 

Section 11.01       Satisfaction and Discharge of Indenture.

 

If at
any time: (a) the Company shall have delivered to the Trustee for
cancellation all Securities of a series theretofore authenticated and not
delivered to the Trustee for cancellation (other than any Securities that shall
have been destroyed, lost or stolen and that shall have been replaced or paid
as provided in Section 2.07 and Securities for whose payment money or
Governmental Obligations have theretofore been deposited in trust or segregated
and held in trust by the Company and thereupon repaid to the Company or
discharged from such trust, as provided in Section 11.05); or (b) all
such Securities of a particular series not theretofore delivered to the Trustee
for cancellation shall have become due and payable, or are by their terms to
become due and payable within one year or are to be called for redemption
within one year under arrangements satisfactory to the Trustee for the giving
of notice of redemption, and the Company shall deposit or cause to be deposited
with the Trustee as trust funds the entire amount in moneys or Governmental
Obligations or a combination thereof, sufficient in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay at maturity or upon
redemption all Securities of that series not theretofore delivered to the
Trustee for cancellation, including principal (and premium, if any) and
interest due or to become due to such date of maturity or date fixed for
redemption, as the case may be, and if the Company shall also pay or cause to
be paid all other sums payable 

 

39

 

hereunder with respect to such series by the Company
then this Indenture shall thereupon cease to be of further effect with respect
to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01,
4.02, 4.03 and 7.10, that shall survive until the date of maturity or
redemption date, as the case may be, and Sections 7.06 and 11.05, that shall
survive to such date and thereafter, and the Trustee, on demand of the Company
and at the cost and expense of the Company shall execute proper instruments
acknowledging satisfaction of and discharging this Indenture with respect to
such series.

 

Section 11.02       Discharge of Obligations.

 

If at
any time all such Securities of a particular series not heretofore delivered to
the Trustee for cancellation or that have not become due and payable as
described in Section 11.01 shall have been paid by the Company by
depositing irrevocably with the Trustee as trust funds moneys or an amount of
Governmental Obligations sufficient to pay at maturity or upon redemption all
such Securities of that series not theretofore delivered to the Trustee for
cancellation, including principal (and premium, if any) and interest due or to
become due to such date of maturity or date fixed for redemption, as the case
may be, and if the Company shall also pay or cause to be paid all other sums
payable hereunder by the Company with respect to such series, then after the
date such moneys or Governmental Obligations, as the case may be, are deposited
with the Trustee the obligations of the Company under this Indenture with
respect to such series shall cease to be of further effect except for the
provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05
hereof that shall survive until such Securities shall mature and be paid.

 

Thereafter,
Sections 7.06 and 11.05 shall survive.

 

Section 11.03       Deposited Moneys to be Held in Trust.

 

All
moneys or Governmental Obligations deposited with the Trustee pursuant to
Sections 11.01 or 11.02 shall be held in trust and shall be available for
payment as due, either directly or through any paying agent (including the
Company acting as its own paying agent), to the holders of the particular
series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee.

 

Section 11.04       Payment of Moneys Held by Paying Agents.

 

In
connection with the satisfaction and discharge of this Indenture all moneys or
Governmental Obligations then held by any paying agent under the provisions of
this Indenture shall, upon demand of the Company, be paid to the Trustee and
thereupon such paying agent shall be released from all further liability with
respect to such moneys or Governmental Obligations.

 

Section 11.05       Repayment to Company.

 

Any
moneys or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of or
premium, if any, or interest on the Securities of a particular series that are
not applied but remain unclaimed by the holders of such Securities for at least
two years after the date upon which the principal of (and 

 

40

 

premium, if any) or interest on such Securities shall
have respectively become due and payable, or such other shorter period set
forth in applicable escheat or abandoned or unclaimed property law, shall be
repaid to the Company on May 31 of each year or upon the Company’s request
or (if then held by the Company) shall be discharged from such trust; and
thereupon the paying agent and the Trustee shall be released from all further
liability with respect to such moneys or Governmental Obligations, and the
holder of any of the Securities entitled to receive such payment shall
thereafter, as a general creditor, look only to the Company for the payment
thereof.

 

ARTICLE
12

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

 

Section 12.01       No Recourse.

 

No
recourse under or upon any obligation, covenant or agreement of this Indenture,
or of any Security, or for any claim based thereon or otherwise in respect
thereof, shall be had against any incorporator, stockholder, officer or
director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations, and that no such
personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or
of any predecessor or successor corporation, or any of them, because of the
creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any of
the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against,
every such incorporator, stockholder, officer or director as such, because of
the creation of the indebtedness hereby authorized, or under or by reason of
the obligations, covenants or agreements contained in this Indenture or in any
of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this
Indenture and the issuance of such Securities.

 

ARTICLE
13

MISCELLANEOUS PROVISIONS

 

Section 13.01       Effect on Successors and Assigns.

 

All
the covenants, stipulations, promises and agreements in this Indenture made by
or on behalf of the Company shall bind its successors and assigns, whether so
expressed or not.

 

Section 13.02       Actions by Successor.

 

Any
act or proceeding by any provision of this Indenture authorized or required to
be done or performed by any board, committee or officer of the Company shall
and may be done 

 

41

 

and performed with like force and effect by the
corresponding board, committee or officer of any corporation that shall at the
time be the lawful successor of the Company.

 

Section 13.03       Surrender of Company Powers.

 

The
Company by instrument in writing executed by authority of its Board of
Directors and delivered to the Trustee may surrender any of the powers reserved
to the Company, and thereupon such power so surrendered shall terminate both as
to the Company and as to any successor corporation.

 

Section 13.04       Notices.

 

Except
as otherwise expressly provided herein, any notice, request or demand that by
any provision of this Indenture is required or permitted to be given, made or
served by the Trustee or by the holders of Securities or by any other Person
pursuant to this Indenture to or on the Company may be given or served by being
deposited in first class mail, postage prepaid, addressed (until another
address is filed in writing by the Company with the Trustee), as follows:
Inovio Biomedical Corporation, 11494 Sorrento Valley Road, San Diego,
California, 92121, Attn: Chief Financial Officer.  Any notice, election, request or demand by
the Company or any Securityholder or by any other Person pursuant to this
Indenture to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate
Trust Office of the Trustee.

 

Section 13.05       Governing Law.

 

This
Indenture and each Security shall be deemed to be a contract made under the
internal laws of the State of New York, and for all purposes shall be construed
in accordance with the laws of said State, except to the extent that the Trust
Indenture Act is applicable.

 

Section 13.06       Treatment of Securities as Debt.

 

It is
intended that the Securities will be treated as indebtedness and not as equity
for federal income tax purposes.  The
provisions of this Indenture shall be interpreted to further this intention.

 

Section 13.07       Certificates and Opinions as to
Conditions Precedent.

 

(a)           Upon any application or demand by the
Company to the Trustee to take any action under any of the provisions of this
Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent provided for in this Indenture (other than
the certificate to be delivered pursuant to Section 13.12) relating to the
proposed action have been complied with and an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent have been complied
with, except that in the case of any such application or demand as to which the
furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or demand, no additional
certificate or opinion need be furnished.

 

42

 

(b)           Each certificate or opinion provided for
in this Indenture and delivered to the Trustee with respect to compliance with
a condition or covenant in this Indenture shall include (i) a statement
that the Person making such certificate or opinion has read such covenant or
condition; (ii) 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; (iii) a statement that, in the
opinion of such Person, he has made such examination or investigation as is
reasonably necessary to enable him to express an informed opinion as to whether
or not such covenant or condition has been complied with; and (iv) a
statement as to whether or not, in the opinion of such Person, such condition
or covenant has been complied with.

 

Section 13.08       Payments on Business Days.

 

Except
as provided pursuant to Section 2.01 pursuant to a Board Resolution, and
set forth in an Officers’ Certificate, or established in one or more indentures
supplemental to this Indenture, in any case where the date of maturity of
interest or principal of any Security or the date of redemption of any Security
shall not be a Business Day, then payment of interest or principal (and
premium, if any) may be made on the next succeeding Business Day with the same
force and effect as if made on the nominal date of maturity or redemption, and
no interest shall accrue for the period after such nominal date.

 

Section 13.09       Conflict with Trust Indenture Act.

 

If and
to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by Sections 310 to 317, inclusive, of the
Trust Indenture Act, such imposed duties shall control.

 

Section 13.10       Counterparts.

 

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

 

Section 13.11       Separability.

 

In
case any one or more of the provisions contained in this Indenture or in the
Securities of any series shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions of this Indenture or of such Securities,
but this Indenture and such Securities shall be construed as if such invalid or
illegal or unenforceable provision had never been contained herein or therein.

 

Section 13.12       Compliance Certificates.

 

The
Company shall deliver to the Trustee, within 120 days after the end of each
fiscal year during which any Securities of any series were outstanding, an
officer’s certificate stating whether or not the signers know of any Default or
Event of Default that occurred during such fiscal year.  Such certificate shall contain a
certification from the principal executive officer, principal financial officer
or principal accounting officer of the Company that a review has been conducted
of the activities of the Company and the Company’s performance under this
Indenture and that the Company has complied with all conditions and covenants
under this Indenture.  For 

 

43

 

purposes of this Section 13.12, such compliance
shall be determined without regard to any period of grace or requirement of
notice provided under this Indenture.  If
the officer of the Company signing such certificate has knowledge of such a
Default or Event of Default, the certificate shall describe any such Default or
Event of Default and its status.

 

44

 

IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be
duly executed all as of the day and year first above written.

 

	
   

  	
  INOVIO BIOMEDICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [TRUSTEE], as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

[SIGNATURE PAGE TO SENIOR DEBT SECURITIES]

 

 

CROSS-REFERENCE TABLE (1)

 

	
  Section of Trust Indenture Act of 1939, as Amended

  	
   

  	
  Section of Indenture

  
	
  310(a)

  	
   

  	
  7.09

  
	
  310(b)

  	
   

  	
  7.08

  
	
   

  	
   

  	
  7.10

  
	
  310(c)

  	
   

  	
  Inapplicable

  
	
  311(a)

  	
   

  	
  7.13

  
	
  311(b)

  	
   

  	
  7.13

  
	
  311(c)

  	
   

  	
  Inapplicable

  
	
  312(a)

  	
   

  	
  5.01

  
	
   

  	
   

  	
  5.02(a)

  
	
  312(b)

  	
   

  	
  5.02(c)

  
	
  312(c)

  	
   

  	
  5.02(c)

  
	
  313(a)

  	
   

  	
  5.04(a)

  
	
  313(b)

  	
   

  	
  5.04(b)

  
	
  313(c)

  	
   

  	
  5.04(a)

  
	
   

  	
   

  	
  5.04(b)

  
	
  313(d)

  	
   

  	
  5.04(c)

  
	
  314(a)

  	
   

  	
  5.03

  
	
   

  	
   

  	
  13.12

  
	
  314(b)

  	
   

  	
  Inapplicable

  
	
  314(c)

  	
   

  	
  13.07(a)

  
	
  314(d)

  	
   

  	
  Inapplicable

  
	
  314(e)

  	
   

  	
  13.07(b)

  
	
  314(f)

  	
   

  	
  Inapplicable

  
	
  315(a)

  	
   

  	
  7.01(a)

  
	
   

  	
   

  	
  7.01(b)

  
	
  315(b)

  	
   

  	
  7.14

  
	
  315(c)

  	
   

  	
  7.01

  
	
  315(d)

  	
   

  	
  7.01(b)

  
	
  315(e)

  	
   

  	
  6.07

  
	
  316(a)

  	
   

  	
  6.06

  
	
   

  	
   

  	
  8.04

  
	
  316(b)

  	
   

  	
  6.04

  
	
  316(c)

  	
   

  	
  8.01

  
	
  317(a)

  	
   

  	
  6.02

  
	
  317(b)

  	
   

  	
  4.03

  
	
  318(a)

  	
   

  	
  13.09

  

 

	
  (1)

  	
  This
  Cross-Reference Table does not constitute part of the Indenture and shall not
  have any bearing on the interpretation of any of its terms or provisions.

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