Document:

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                                                                     Exhibit 4.5

                                                                  EXECUTION COPY

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                           CHC HELICOPTER CORPORATION

          (a corporation incorporated under the federal laws of Canada)

                    7 3/8% Senior Subordinated Notes due 2014

                               PURCHASE AGREEMENT

Dated: March 15, 2005

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                                TABLE OF CONTENTS

                               PURCHASE AGREEMENT

<TABLE>
<S>         <C>                                                                            <C>
SECTION 1.  Representations and Warranties by Company and the Subsidiary Guarantors.....         4
   (a) Representations and Warranties...................................................         4
   (b) Officer's Certificates...........................................................        16

SECTION 2.  Sale and Delivery to Initial Purchasers; Closing............................        16
   (a) Securities.......................................................................        16
   (b) Payment..........................................................................        16
   (c) Denominations; Registration......................................................        17

SECTION 3.  Covenants of Company and the Subsidiary Guarantors..........................        17
   (a) Offering Memorandum..............................................................        17
   (b) Notice and Effect of Material Events.............................................        17
   (c) Amendment to Offering Memorandum and Supplements.................................        18
   (d) Qualification of Securities and Guarantees for Offer and Sale....................        18
   (e) Rating of Securities.............................................................        18
   (f) The Depository Trust Company.....................................................        18
   (g) Use of Proceeds..................................................................        18
   (h) Restriction on Sale of Securities................................................        18

SECTION 4.  Payment of Expenses.........................................................        19
   (a) Expenses.........................................................................        19
   (b) Termination of Agreement.........................................................        19

SECTION 5.  Conditions of Initial Purchasers' Obligations...............................        19
   (a) Opinions of Counsel for the Company and Certain of its Subsidiaries..............        20
   (b) Opinion of Counsel for Initial Purchasers........................................        20
</TABLE>

                                        i

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<TABLE>
<S>         <C>                                                                            <C>
   (c) Officer's Certificate............................................................        21
   (d) Accountants' Comfort Letters.....................................................        21
   (e) Bring-down Comfort Letter........................................................        21
   (f) Portal Market....................................................................        21
   (g) Execution of Registration Rights Agreement and the Securities....................        22
   (h) Credit Facility..................................................................        22
   (i) Additional Documents.............................................................        22
   (j) Termination of Agreement.........................................................        22

SECTION 6.  Subsequent Offers and Resales of the Securities.............................        22
   (a) Offer and Sale Procedures........................................................        22
   (b) Covenants of the Company and the Subsidiary Guarantors...........................        24
   (c) Resale Pursuant to Rule 903 of Regulation S or Rule 144A.........................        25
   (d) Additional Representations and Warranties of Initial Purchasers..................        26

SECTION 7.  Indemnification.............................................................        26
   (a) Indemnification of Initial Purchasers............................................        26
   (b) Indemnification of the Company and the Subsidiary Guarantors.....................        27
   (c) Actions Against Parties; Notification............................................        27
   (d) Settlement Without Consent if Failure to Reimburse...............................        28

SECTION 8.  Contribution................................................................        28

SECTION 9.  Representations, Warranties and Agreements to Survive Delivery..............        30

SECTION 10. Termination of Agreement....................................................        30
   (a) Termination; General.............................................................        30
   (b) Liabilities......................................................................        30
</TABLE>

                                       ii

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<TABLE>
<S>         <C>                                                                            <C>
SECTION 11. Default by One or More of the Initial Purchasers............................        31

SECTION 12. Notices.....................................................................        31

SECTION 13. Parties.....................................................................        31

SECTION 14. Appointment of Agent for Service............................................        32

SECTION 15. GOVERNING LAW AND TIME......................................................        32

SECTION 16. Effect of Headings..........................................................        32

SCHEDULES

Schedule A - List of Initial Purchasers.................................................   Sch A-1
Schedule B - Pricing Information........................................................   Sch B-1
Schedule C - List of Subsidiaries.......................................................   Sch C-1
Schedule D - List of Process Agents.....................................................   Sch D-1
</TABLE>

                                       iii

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                           CHC HELICOPTER CORPORATION
          (a corporation incorporated under the federal laws of Canada)
                                  $150,000,000
                    7 3/8% Senior Subordinated Notes due 2014

                               PURCHASE AGREEMENT

                                                                  March 15, 2005

Merrill Lynch & Co.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
J.P. Morgan Securities Inc.
Scotia Capital (USA) Inc.

c/o Merrill Lynch & Co.
Four World Financial Center
250 Vesey Street
New York, New York 10800

Ladies and Gentlemen:

          CHC HELICOPTER CORPORATION, a corporation incorporated under the
federal laws of Canada (the "Company"); each of CHC HELICOPTER HOLDINGS LIMITED,
a corporation incorporated under the federal laws of Canada, CHC HELICOPTERS
INTERNATIONAL INC., a corporation incorporated under the federal laws of Canada,
VIKING HELICOPTERS LIMITED, a corporation incorporated under the federal laws of
Canada, CANADIAN HELICOPTERS (U.K.) LIMITED, a corporation incorporated under
the laws of Scotland, CHC SCOTIA LIMITED, a corporation incorporated under the
laws of England and Wales, BRINTEL HOLDINGS LIMITED, a corporation incorporated
under the laws of Scotland, BRINTEL HELICOPTERS LIMITED, a corporation
incorporated under the laws of Scotland, FLIGHT HANDLING LIMITED, a corporation
incorporated under the laws of Scotland, BOND HELICOPTER SERVICES LIMITED, a
corporation incorporated under the laws of Scotland, NORTH DENES AERODROME LTD.,
a corporation incorporated under the laws of England and Wales, COURT AIR
(PROPRIETARY) LTD., a corporation incorporated under the laws of South Africa,
COURT HELICOPTER SERVICES (PROPRIETARY) LIMITED, a corporation incorporated
under the laws of South Africa, COURT FLIGHT SAFETY (PROPRIETARY) LTD., a
corporation incorporated under the federal laws of South Africa, CHC HELICOPTERS
(AFRICA) (PROPRIETARY) LTD., a corporation incorporated under the federal laws
of South Africa, LLOYD HELICOPTER SERVICES LIMITED, a corporation incorporated
under the laws of Scotland, MANAGEMENT AVIATION LIMITED, a corporation
incorporated under the laws of England and Wales, LLOYD HELICOPTER SERVICES PTY.
LTD., a corporation incorporated under the federal laws of Australia, LLOYD
OFFSHORE HELICOPTERS PTY. LTD., a corporation incorporated under the federal
laws of Australia, LLOYD BASS STRAIT HELICOPTERS PTY. LTD., a corporation
incorporated under the federal laws of Australia, LLOYD HELICOPTERS
INTERNATIONAL PTY. LTD. in its own capacity and as trustee of the The Australian
Helicopters Trust, a trust existing under the laws of

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Australia, a corporation incorporated under the federal laws of Australia, LLOYD
HELICOPTERS PTY. LTD., a Corporation incorporated under the federal laws of
Australia, CHC HELICOPTERS (BARBADOS) LIMITED, a corporation incorporated under
the laws of Barbados, CHC CAPITAL (BARBADOS) LIMITED, a corporation incorporated
under the laws of Barbados, CHC LEASING (BARBADOS) LIMITED, a corporation
incorporated under the laws of Barbados, CHC IRELAND LIMITED, a corporation
incorporated under the federal laws of Ireland, CHC SWEDEN AB, a corporation
incorporated under the laws of Sweden, CHC NETHERLANDS BV, a corporation
incorporated under the laws of The Netherlands, SCHREINER LUCHTVAART GROEP BV, a
corporation incorporated under the laws of The Netherlands, CAPITAL AVIATION
SERVICES BV, a corporation incorporated under the laws of The Netherlands,
HANDELSMAATSCHAPPIJ SCHREINER & Co. BV, a corporation incorporated under the
laws of The Netherlands, LUCHTVAARTMAATSCHAPPIJ SCHREINER AIRWAYS BV, a
corporation incorporated under the laws of The Netherlands, SCHREINER NORTHSEA
HELICOPTERS BV, a corporation incorporated under the laws of The Netherlands,
SCHREINER ONROEREND GOED BV, a corporation incorporated under the laws of The
Netherlands, AVIATION PERSONNEL RECRUITMENT AND MANAGEMENT (APRAM) LIMITED, a
corporation incorporated under the laws of Cyprus, SCHREINER TCHAD SA, a
corporation incorporated under the laws of Tchad, 4083423 Canada Inc., a
corporation incorporated under the federal laws of Canada, WHIRLY BIRD SERVICES
LIMITED, a corporation incorporated under the laws of Scotland, CHC HELICOPTERS
(MAURITIUS) LTD., a corporation incorporated under the laws of Mauritius,
SCHREINER COMPONENTS BV, a corporation incorporated under the laws of the The
Netherlands, MULTIFABS SURVIVAL LIMITED, a corporation incorporated under the
laws of Scotland and HELIWORLD LEASING LTD, a company limited by shares duly
organized and existing under the laws of England and Wales (collectively, the
"Subsidiary Guarantors"), confirm their agreement with Merrill Lynch & Co. and
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch"), J.P.
Morgan Securities Inc. and Scotia Capital (USA) Inc. (collectively, the "Initial
Purchasers", which term shall also include any initial purchaser substituted as
hereinafter provided in Section 11 hereof), with respect to the issue and sale
by the Company and the purchase by the Initial Purchasers, acting severally and
not jointly, of the respective principal amounts set forth in Schedule A of
$150,000,000 aggregate principal amount of the Company's 7 3/8% Senior
Subordinated Notes due 2014 (the "Securities"). The Securities are to be issued
pursuant to an indenture dated as of April 27, 2004, as supplemented from time
to time (the "Indenture") among the Company, each Subsidiary Guarantor and The
Bank of New York, as trustee (the "Trustee"), pursuant to which $250,000,000 of
notes of the same series were previously issued. The obligations of the Company
under the Indenture and the Securities will be guaranteed (the "Guarantees") by
each of the Subsidiary Guarantors, pursuant to the Indenture. When, in this
Agreement, the term "subsidiary" is used uncapitalized in reference to the
Company, it shall signify reference to any one of the Company's wholly or partly
owned subsidiaries, including the Subsidiary Guarantors, and any other company,
partnership or enterprise controlled by the Company at a given time.

          Securities issued in book-entry form will be issued to Cede & Co. as
nominee of The Depository Trust Company ("DTC") pursuant to a letter agreement,
to be dated as of the

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Closing Time (as defined in Section 2(b)) (the "DTC Agreement"), among the
Company and DTC.

          The holders of Securities will be entitled to the benefits of a
Registration Rights Agreement, in form and substance reasonably satisfactory to
the Initial Purchasers (the "Registration Rights Agreement"), pursuant to which
the Company and the Subsidiary Guarantors agree to file with the Securities and
Exchange Commission (the "Commission"), under certain circumstances, a
registration statement registering notes with terms identical to those of the
Securities (the "Exchange Securities") and which will evidence the same
continuing indebtedness of the Company and the Subsidiary Guarantors, to be
offered in exchange for the Securities, and, under certain circumstances, a
registration statement registering the Securities for resale, in both cases
together with the related Guarantees, under the Securities Act of 1933, as
amended (the "1933 Act").

          The Company and each Subsidiary Guarantor understand that the Initial
Purchasers propose to make an offering of the Securities on the terms and in the
manner set forth herein and agree that the Initial Purchasers may resell,
subject to the conditions set forth herein, all or a portion of the Securities
to purchasers ("Subsequent Purchasers") at any time after the date of this
Agreement. The Securities are to be offered and sold through the Initial
Purchasers in the United States without being registered under the 1933 Act, in
reliance upon exemptions therefrom and in Canada in reliance on exemptions from
the requirement to file a prospectus relating to the Securities under the
securities laws, rules, regulations and written policy statements (collectively,
the "Canadian Securities Laws") of any province of Canada in which the
Securities are offered (collectively, the "Relevant Provinces"). Pursuant to the
terms of the Securities and the Indenture, investors that acquire Securities may
only resell or otherwise transfer such Securities if such Securities are
hereafter registered under the 1933 Act or if an exemption from the registration
requirements of the 1933 Act is available (including the exemption afforded by
Rule 144A ("Rule 144A") or Regulation S ("Regulation S") of the rules and
regulations promulgated under the 1933 Act by the Commission or, if such
investors are Canadian residents, pursuant to an available exemption from the
prospectus and registration requirements under applicable Canadian Securities
Laws).

          The Company has prepared on behalf of itself and the Subsidiary
Guarantors and has delivered to each Initial Purchaser, copies of a U.S.
preliminary offering memorandum dated March 14, 2005 (the "U.S. Preliminary
Offering Memorandum") and a Canadian preliminary offering memorandum of the same
date (the "Canadian Preliminary Offering Memorandum" and, together with the U.S.
Preliminary Offering Memorandum, the "Preliminary Offering Memorandum") and has
prepared and will deliver to each Initial Purchaser, on the date hereof or the
next succeeding day, copies of a U.S. final offering memorandum dated March 15,
2005 (the "U.S. Final Offering Memorandum") and a Canadian final offering
memorandum of the same date (the "Canadian Final Offering Memorandum" and,
together with the U.S. Final Offering Memorandum, the "Final Offering
Memorandum"), each for use by such Initial Purchaser in connection with its
solicitation of purchases of, or offering of, the Securities. "Offering
Memorandum" means, with respect to any date or time referred to in this
Agreement, the most recent offering memorandum (whether the Preliminary Offering
Memorandum or the Final Offering

<PAGE>

Memorandum, or any amendment or supplement to either such document), including
exhibits thereto and any documents incorporated therein by reference, which has
been prepared and delivered by the Company to the Initial Purchasers in
connection with their solicitation of purchases of, or offering of, the
Securities.

          In connection with the offering of the Notes, the Company is seeking
an amendment to its Second Amended and Restated Credit Facility, dated December
22, 2004 (the "Credit Facility") to allow for the offering of the Notes.

          Capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Offering Memorandum.

          SECTION 1. Representations and Warranties by Company and the
Subsidiary Guarantors.

          (a) Representations and Warranties.

          The Company and each of the Subsidiary Guarantors, jointly and
severally, represent and warrant to each Initial Purchaser as of the date hereof
and as of the Closing Time referred to in Section 2(b) hereof, and agree with
each Initial Purchaser, as follows:

               (i)  Similar Offerings.

          None of the Company or any Subsidiary Guarantor or any of their
     affiliates, as such term is defined in Rule 501(b) under the 1933 Act
     (each, an "Affiliate"), has, directly or indirectly, solicited any offer to
     buy, sold or offered to sell or otherwise negotiated in respect of, or will
     solicit any offer to buy or offer to sell or otherwise negotiate in respect
     of, in the United States or to any United States citizen or resident, any
     security in a manner that would result in the integration of such offer or
     solicitation with the offering of the Securities contemplated herein and
     would require the Securities to be registered under the 1933 Act.

               (ii) Offering Memorandum.

          The Offering Memorandum does not, and at the Closing Time will not,
     include an untrue statement of a material fact or omit to state a material
     fact necessary in order to make the statements therein, in the light of the
     circumstances under which they were made, not misleading; provided that
     this representation, warranty and agreement shall not apply to statements
     in or omissions from the Offering Memorandum made in reliance upon and in
     conformity with information furnished to the Company in writing by any
     Initial Purchaser expressly for use in the Offering Memorandum.

               (iii) Independent Accountants.

          The accountants who certified the financial statements and supporting
     schedules included in the Offering Memorandum are independent public
     accountants with respect

<PAGE>

     to the Company and its subsidiaries within the meaning of (a) the Canada
     Business Corporations Act, (b) Regulation S-X under the 1933 Act and (c)
     the auditor independence standard adopted by the Canadian Institute of
     Chartered Accountants in December 2003.

               (iv) Financial Statements.

          The consolidated financial statements of the Company, together with
     the related schedules and notes, included in the Offering Memorandum
     present fairly the financial position of the Company and its respective
     consolidated subsidiaries at the dates indicated and the results of
     operations, changes in stockholders' equity and cash flows of the Company
     and its consolidated subsidiaries for the periods specified; said financial
     statements have been prepared in conformity with Canadian generally
     accepted accounting principles ("Canadian GAAP") applied on a consistent
     basis throughout the periods involved. The supporting schedules, if any,
     included in the Offering Memorandum present fairly in accordance with
     Canadian GAAP, the information required to be stated therein. The
     reconciliations of the Company's financial statements, as presented in
     accordance with Canadian GAAP to the same financial statements, as they
     would have been presented under United States generally accepted accounting
     principles ("U.S. GAAP"), found in the notes to the financial statements
     included in the Offering Memorandum, present fairly all material
     differences that would arise in converting the Company's financial
     statements from Canadian GAAP to U.S. GAAP. The summary consolidated
     historical financial data included in the Offering Memorandum present
     fairly the information shown therein and have been compiled on a basis
     consistent with that of the audited financial statements included in the
     Offering Memorandum.

               (v)  No Material Adverse Change in Business.

          Since the respective dates as of which information is given in the
     Offering Memorandum, except as disclosed therein, (A) there has been no
     material adverse change in the condition, financial or otherwise, or in the
     earnings, business affairs or business prospects of the Company and its
     subsidiaries considered as one enterprise, whether or not arising in the
     ordinary course of business (a "Material Adverse Effect"), (B) there have
     been no transactions entered into by the Company or any of its
     subsidiaries, other than those in the ordinary course of business, which
     are material with respect to the Company and its subsidiaries considered as
     one enterprise, and (C) there has been no dividend or distribution of any
     kind declared, paid or made by the Company on any class of its capital
     stock.

               (vi) Existence of the Company.

          The Company has been duly organized and is validly existing as a
     corporation under the laws of Canada and has corporate power and authority
     to own, lease and operate its properties and to conduct its business as
     described in the Offering Memorandum and to enter into and perform its
     obligations under this Agreement and is in good standing under the laws of
     Canada; and the Company is duly qualified as a foreign corporation to
     transact business and is in good standing in each other jurisdiction in
     which such qualification

<PAGE>

     is required, whether by reason of the ownership or leasing of property or
     the conduct of business, except where the failure so to qualify or to be in
     good standing would not result in a Material Adverse Effect.

               (vii) Good Standing of Subsidiaries.

          Each of the Company's subsidiaries has been duly organized and is
     validly existing as a corporation, trust or other corporate entity, as the
     case may be, in good standing under the laws of the jurisdiction of its
     incorporation (to the extent good standing status is authorized by such
     jurisdiction), has corporate power and authority or power and authority
     under its constituent documents and the laws of its jurisdiction of
     organization to own, lease and operate its properties and to conduct its
     business as described in the Offering Memorandum and is duly qualified as a
     foreign corporation to transact business and is in good standing in each
     jurisdiction in which such qualification is required, whether by reason of
     the ownership or leasing of property or the conduct of business, except
     where the failure so to qualify or to be in good standing would not result
     in a Material Adverse Effect; except as otherwise disclosed in the Offering
     Memorandum, all of the issued and outstanding capital stock of each
     subsidiary has been duly authorized and validly issued, is fully paid and
     non-assessable and, to the extent set forth under "Percentage of Equity
     Owned by the Company" in Schedule C hereto, is owned by the Company,
     directly or through subsidiaries, free and clear of any security interest,
     mortgage, pledge, lien, encumbrance, claim or equity except as provided in
     or pursuant to the Credit Facility; none of the outstanding shares of
     capital stock of the subsidiaries was issued in violation of any preemptive
     or similar rights of any security holder of such subsidiary. Except as set
     forth in Schedule C hereto, the Company owns, directly or indirectly, no
     material interest in the equity of any person.

               (viii) Capitalization.

          The table presenting the Company's capitalization as set forth in the
     Offering Memorandum under the caption "Capitalization" presents fairly the
     information shown therein and has been properly compiled on the bases
     described therein; and the assumptions used in preparation thereof are
     reasonable and the adjustments made therein are appropriate to give effect
     to the transactions and circumstances referred to therein. The issued and
     outstanding shares of each class of capital stock of the Company have been
     duly authorized and validly issued and are fully paid and non-assessable;
     none of the outstanding shares of capital stock of the Company was issued
     in violation of the preemptive or other similar rights of any
     securityholder of the Company.

               (ix) Authorization of this Agreement.

          The execution, delivery and performance of this Agreement has been
     duly authorized by the Company and by each of the Subsidiary Guarantors and
     this Agreement has been duly executed and delivered by such parties.

<PAGE>

               (x)  Authorization of the Indenture.

          The execution, delivery and performance of the Indenture has been duly
     authorized by the Company and each Subsidiary Guarantor and the Indenture
     has been duly executed and delivered by the Company and each Subsidiary
     Guarantor and constitutes a valid and binding agreement of the Company and
     each Subsidiary Guarantor, enforceable against the Company and each
     Subsidiary Guarantor in accordance with its terms, except as the
     enforcement thereof may be limited by bankruptcy, insolvency (including,
     without limitation, all laws relating to fraudulent transfers),
     reorganization, moratorium or similar laws affecting enforcement of
     creditors' rights generally and except as enforcement thereof is subject to
     general principles of equity (regardless of whether enforcement is
     considered in a proceeding in equity or at law) (the "Enforcement
     Exceptions"). The Company has received an exemption order under subsection
     82(3) of the Canada Business Corporations Act exempting the Indenture from
     the applicable provisions of Part VIII of the CBCA. No registration, filing
     or recording of the Indenture under the federal laws of Canada or other
     applicable laws is necessary to preserve or protect the validity or
     enforceability of the Indenture or the Securities issued thereunder.

               (xi) Authorization of the Securities and Exchange Securities.

          (A) The Securities and the Exchange Securities have been duly
     authorized by the Company; (B) at the Closing Time, the Securities will
     have been duly executed by the Company and, when authenticated, issued and
     delivered in the manner provided for in the Indenture (assuming due
     authorization, execution and delivery of the Indenture by the Trustee) and
     delivered against payment of the purchase price therefor as provided in
     this Agreement, will constitute valid and binding obligations of the
     Company, enforceable against the Company in accordance with their terms;
     and (C) the Exchange Securities, when executed, authenticated, issued and
     delivered in exchange for the Securities in accordance with the terms of
     the Indenture and the Registration Rights Agreement, will constitute valid
     and binding obligations of the Company, entitled to the benefits of the
     Indenture and enforceable against the Company in accordance with the terms
     thereof, except, in the case of (B) and (C), as the enforcement thereof may
     be limited by the Enforcement Exceptions, and will be in the form
     contemplated by, and entitled to the benefits of, the Indenture.

               (xii) Authorization of the Guarantees.

          (a) The form, issuance, execution, delivery and performance of the
     Guarantees have been duly authorized and have been duly executed by the
     Subsidiary Guarantors and when the Securities are authenticated, issued and
     delivered in the manner provided for in the Indenture (assuming due
     authorization execution and delivery of the Indenture by the Trustee) and
     the Securities are delivered against payment of the purchase price therefor
     as provided in this Agreement, the Guarantees will constitute valid and
     binding obligations of the Subsidiary Guarantors, enforceable against the
     Subsidiary

<PAGE>

     Guarantors in accordance with their terms (subject to the Enforcement
     Exceptions), and will be in the form contemplated by, and entitled to the
     benefits of, the Indenture.

          (b) The form, issuance, execution, delivery and performance of the
     guarantees of the Exchange Securities have been duly authorized and have
     been duly executed by the Subsidiary Guarantors and when the Exchange
     Securities are authenticated, issued and delivered in the manner provided
     for in the Indenture (assuming due authorization execution and delivery of
     the Indenture by the Trustee) and the Exchange Securities are delivered
     against payment of the purchase price therefor as provided in this
     Agreement, the Guarantees of the Exchange Securities will constitute valid
     and binding obligations of the Subsidiary Guarantors, enforceable against
     the Subsidiary Guarantors in accordance with their terms (subject to the
     Enforcement Exceptions) and will be in the form contemplated by, and
     entitled to the benefits of, the Indenture.

               (xiii) Authorization of the Registration Rights Agreement.

          The Registration Rights Agreement has been duly authorized by the
     Company and each Subsidiary Guarantor and, when executed and delivered by
     the Company, each Subsidiary Guarantor and the Initial Purchasers, will
     constitute a valid and binding agreement of the Company and each Subsidiary
     Guarantor, enforceable against the Company and each Subsidiary Guarantor in
     accordance with its terms (subject to the Enforcement Exceptions), and
     except as rights to indemnification and contribution under the Registration
     Rights Agreement may be limited under applicable law.

               (xiv) Description of the Securities and the Transaction
                    Documents.

          The Securities, the Exchange Securities, the Guarantees, the
     guarantees of the Exchange Securities, the Indenture and the Registration
     Rights Agreement will conform in all material respects to the respective
     statements relating thereto contained in the Offering Memorandum and will
     be in substantially the respective forms previously delivered to the
     Initial Purchasers prior to the date of this Agreement.

               (xv) Absence of Defaults and Conflicts.

          Neither of the Company nor the Subsidiary Guarantors is in violation
     of its charter or by-laws. Neither the Company nor any of its subsidiaries
     is in default in the performance or observance of any obligation,
     agreement, covenant or condition contained in any contract, indenture,
     mortgage, deed of trust, loan or credit agreement, note, lease or other
     agreement or instrument to which the Company or any of its subsidiaries is
     a party or by which or any of them may be bound, or to which any of the
     property or assets of the Company or any of its subsidiaries is subject
     (collectively, "Agreements and Instruments"), except for such defaults as
     would not result in a Material Adverse Effect; and the execution, delivery
     and performance of this Agreement, the Indenture, the Securities, the
     Exchange Securities, the Guarantees, the guarantees of the Exchange
     Securities, the Registration Rights Agreement and any other agreement or
     instrument entered into or issued

<PAGE>

     or to be entered into or issued by the Company or the Subsidiary
     Guarantors, in connection with the transactions contemplated hereby or
     thereby or in the Offering Memorandum and the consummation of the
     transactions contemplated herein and in the Offering Memorandum (including
     the issuance and sale of the Securities and the use of the proceeds from
     the sale of the Securities as described in the Offering Memorandum under
     the caption "Use of Proceeds") and compliance by the Company and the
     Subsidiary Guarantors with their respective obligations hereunder and
     thereunder have been duly authorized by all necessary corporate action and
     do not and will not, whether with or without the giving of notice or
     passage of time or both, conflict with or constitute a breach of, or
     default or Repayment Event (as defined below) under, or result in the
     creation or imposition of any lien, charge or encumbrance upon any property
     or assets of the Company or any of its subsidiaries pursuant to, the
     Agreements and Instruments, except for such conflicts, breaches, defaults,
     Repayment Events, liens, charges or encumbrances that, singly or in the
     aggregate, would not result in a Material Adverse Effect; nor will such
     action result in any violation of the provisions of the charter or by-laws
     of the Company or any of its subsidiaries, nor will such action result in
     any violation of any applicable law, statute, rule, regulation, judgment,
     order, writ or decree of any government, government instrumentality or
     court, domestic or foreign, having jurisdiction over the Company or any of
     its subsidiaries or any of their assets or properties that would result in
     a Material Adverse Effect. As used herein, a "Repayment Event" means any
     event or condition which expressly gives the holder of any note, debenture
     or other evidence of indebtedness (or any person acting on such holder's
     behalf) the right to require the repurchase, redemption or repayment of all
     or a portion of such indebtedness by the Company or any of its
     subsidiaries.

               (xvi) Absence of Labor Dispute.

          No labor dispute with the employees of the Company or any of its
     subsidiaries exists or, to the knowledge of the Company or any Subsidiary
     Guarantor, is imminent which may reasonably be expected to result in a
     Material Adverse Effect, and neither the Company nor any Subsidiary
     Guarantor, is aware of any existing or imminent labor disturbance by the
     employees of any of its or any of its subsidiaries' principal suppliers,
     manufacturers, customers or contractors, which, in either case, may
     reasonably be expected to result in a Material Adverse Effect.

               (xvii) Absence of Proceedings.

          Except as disclosed in the Offering Memorandum, there is no action,
     suit, proceeding, inquiry or investigation before or by any court or
     governmental agency or body, domestic or foreign, now pending, or, to the
     knowledge of the Company or any Subsidiary Guarantor, threatened, against
     or affecting the Company or any of its subsidiaries, taken as a whole,
     which might reasonably be expected to result in a Material Adverse Effect,
     or which might reasonably be expected materially and adversely to affect
     the properties or assets of the Company or any of its subsidiaries or the
     consummation of the transactions contemplated by this Agreement or the
     performance by the Company and the

<PAGE>

     Subsidiary Guarantors of their respective obligations hereunder. The
     pending legal and governmental proceedings, if any, to which the Company or
     any of its subsidiaries is a party or of which any of their respective
     property or assets is the subject which are not described in the Offering
     Memorandum, including ordinary routine litigation incidental to the
     business, are not, in the aggregate, reasonably expected to result in a
     Material Adverse Effect.

               (xviii) Possession of Intellectual Property.

          The Company and its subsidiaries own or possess, or can acquire on
     reasonable terms, adequate patents, patent rights, licenses, inventions,
     copyrights, know-how (including trade secrets and other unpatented or
     unpatentable proprietary or confidential information, systems or
     procedures), trademarks, service marks, trade names or other intellectual
     property (collectively, "Intellectual Property") necessary to carry on the
     business now operated by them, and neither the Company nor any of its
     subsidiaries has received any notice or is otherwise aware of any
     infringement of or conflict with asserted rights of others with respect to
     any Intellectual Property or of any facts or circumstances which would
     render any Intellectual Property invalid or inadequate to protect the
     interest of the Company or any of its subsidiaries therein, and which
     infringement or conflict (if the subject of any unfavorable decision,
     ruling or finding) or invalidity or inadequacy, singly or in the aggregate,
     would result in a Material Adverse Effect.

               (xix) Absence of Further Requirements.

          Except for the registration of the Exchange Securities under the 1933
     Act, the qualification under the Trust Indenture Act of 1939 with respect
     to the Exchange Securities and compliance with state securities laws and
     Canadian Securities Laws in connection with the offering of the Exchange
     Securities, no filing with, or authorization, approval, consent, license,
     order, registration, qualification or decree of, any court or governmental
     authority or agency is necessary or required for the performance by the
     Company and the Subsidiary Guarantors of their respective obligations
     hereunder, in connection with the offering, issuance or sale of the
     Securities hereunder or the consummation of the transactions contemplated
     by this Agreement or for the due execution, delivery or performance of the
     Indenture and the Registration Rights Agreement by the Company and the
     Subsidiary Guarantors, except such as have been already obtained.

               (xx) Possession of Licenses and Permits.

          The Company and its subsidiaries possess such permits, licenses,
     approvals, consents and other authorizations (collectively, "Governmental
     Licenses") issued by the appropriate federal, state, local or foreign
     regulatory agencies or bodies necessary to conduct the business now
     operated by them; the Company and its subsidiaries are in compliance with
     the terms and conditions of all such Governmental Licenses, except where
     the failure so to comply would not, singly or in the aggregate, have a
     Material Adverse Effect; all of the Governmental Licenses are valid and in
     full force and effect, except when

<PAGE>

     the invalidity of such Governmental Licenses or the failure of such
     Governmental Licenses to be in full force and effect would not have a
     Material Adverse Effect; and neither the Company nor any of its
     subsidiaries has received any notice of proceedings relating to the
     revocation or modification of any such Governmental Licenses which, singly
     or in the aggregate, if the subject of an unfavorable decision, ruling or
     finding, would result in a Material Adverse Effect.

               (xxi) Title to Property.

          The Company and its subsidiaries have good and marketable title to all
     real property owned by the Company and its subsidiaries and good title to
     all other properties owned by them, in each case, free and clear of all
     mortgages, pledges, liens, security interests, claims, restrictions or
     encumbrances of any kind, except such as (A) are described in the Offering
     Memorandum or (B) do not, singly or in the aggregate, affect the value of
     such property and do not interfere with the use made and proposed to be
     made of such property by the Company or any of its subsidiaries, such that
     it would result in a Material Adverse Effect; and all of the leases and
     subleases material to the business of the Company and its subsidiaries,
     considered as one enterprise, and under which the Company or any of its
     subsidiaries holds properties described in the Offering Memorandum, are in
     full force and effect, and neither the Company nor any of its subsidiaries
     has any notice of any claim of any sort that has been asserted by anyone
     adverse to the rights of the Company or any of its subsidiaries under any
     of the leases or subleases mentioned above, or affecting or questioning the
     rights of the Company or any subsidiary thereof to the continued possession
     of the leased or subleased premises under any such lease or sublease, such
     that it would result in a Material Adverse Effect.

               (xxii) Internal Accounting Controls.

          The Company and the Subsidiary Guarantors maintain a system of
     internal accounting controls sufficient to provide reasonable assurances
     that (A) transactions are executed in accordance with management's general
     or specific authorization, (B) transactions are recorded as necessary to
     permit preparation of financial statements in conformity with generally
     accepted accounting principles and to maintain accountability for assets,
     (C) access to assets is permitted only in accordance with management's
     general or specific authorization and (D) the recorded accountability for
     assets is compared with the existing assets at reasonable intervals and
     appropriate action is taken with respect to any differences. The Company
     has taken reasonable measures to ensure that all its subsidiaries do the
     same.

               (xxiii) Insurance.

          The Company and the Subsidiary Guarantors carry or are entitled to the
     benefits of insurance with financially sound and reputable insurers, in
     such amounts and covering such risks as is generally maintained by
     companies of established repute engaged in the same or similar business,
     and all such insurance is in full force and effect.

<PAGE>

               (xxiv) Similar Registration Rights.

          Other than pursuant to the Registration Rights Agreement there are no
     persons with registration rights or other similar rights to have any
     securities registered by the Company or any Subsidiary Guarantor under the
     1933 Act.

               (xxv) Solvency.

          The Company and the Subsidiary Guarantors are, and immediately after
     the Closing Time will be, Solvent. As used herein, the term "Solvent"
     means, with respect to the Company and the Subsidiary Guarantors on a
     particular date, that on such date (A) the fair market value of the assets
     of the Company or each Subsidiary Guarantor, as the case may be, is greater
     than the total amount of its respective liabilities (including contingent
     liabilities) taking into consideration its respective contribution rights,
     (B) the present fair salable value of the assets of the Company or each
     Subsidiary Guarantor, as the case may be, is greater than the amount that
     will be required to pay its respective probable liabilities on its debts as
     they become absolute and matured, (C) the Company or each Subsidiary
     Guarantor, as the case may be, is able to realize upon its respective
     assets and pay its respective debts and other liabilities, including
     contingent obligations, as they mature, and (D) the Company or each
     Subsidiary Guarantor, as the case may be, does not have unreasonably small
     capital.

               (xxvi) No Cessation by Supplier.

          No supplier of merchandise to the Company or any of the Subsidiary
     Guarantors (or any of their subsidiaries) has ceased shipments to the
     Company or such subsidiary of merchandise of such a nature, or in such
     magnitude, as would reasonably be expected to result in a Material Adverse
     Effect.

               (xxvii) No Undisclosed Relationships.

          No relationship, direct or indirect, exists between or among any of
     the Company or any Subsidiary Guarantor or any of their Affiliates, on the
     one hand, and any director, officer, stockholder, customer or supplier of
     any of them, on the other hand, which the Company would be required to
     disclose in a registration statement on Form S-1 filed with the Commission
     pursuant to the 1933 Act, which is not disclosed, to the same extent as
     would be required in such a registration statement, in the Offering
     Memorandum.

               (xxviii) Environmental Laws.

          Except as described in the Offering Memorandum and except such matters
     as would not, singly or in the aggregate, result in a Material Adverse
     Effect, (A) neither the Company nor any of its subsidiaries is in violation
     of any federal, state, local or foreign statute, law, rule, regulation,
     ordinance, code, policy or rule of common law or any judicial or
     administrative interpretation thereof, including any judicial or
     administrative order,

<PAGE>

     consent, decree or judgment, relating to pollution or protection of human
     health, the environment (including, without limitation, ambient air,
     surface water, groundwater, land surface or subsurface strata) or wildlife,
     including, without limitation, laws and regulations relating to the release
     or threatened release of chemicals, pollutants, contaminants, wastes, toxic
     substances, hazardous substances, petroleum or petroleum products
     (collectively, "Hazardous Materials") or to the manufacture, processing,
     distribution, use, treatment, storage, disposal, transport or handling of
     Hazardous Materials (collectively, "Environmental Laws"), (B) the Company
     and its subsidiaries have all permits, authorizations and approvals
     required under any applicable Environmental Laws and are in compliance with
     their requirements, (C) there are no pending or, to the knowledge of the
     Company, threatened administrative, regulatory or judicial actions, suits,
     demands, demand letters, claims, liens, notices of noncompliance or
     violation, investigation or proceedings relating to any Environmental Law
     against the Company or any of its subsidiaries and (D) there are no events
     or circumstances that might reasonably be expected to form the basis of an
     order for clean-up or remediation, or an action, suit or proceeding by any
     private party or governmental body or agency, against or affecting the
     Company or any of its subsidiaries relating to Hazardous Materials or
     Environmental Laws.

               (xxix) Taxes.

          All income tax returns required by law to be filed by or on behalf of
     the Company and its subsidiaries have been filed (other than returns with
     respect to which failure so to file would not have a Material Adverse
     Effect on the Company and its subsidiaries, considered as a whole) or
     extensions obtained and all taxes shown by such returns or otherwise
     assessed which are due and payable have been paid, except assessments
     against which appeals have been or will be promptly made and as to which
     adequate reserves have been provided.

          Under current laws and regulations of Canada and any political
     subdivision thereof, all interest, principal, premium, if any, and other
     payments due or made on the Securities may be paid by the Company to the
     holder thereof in United States dollars that may be converted into foreign
     currency and freely transferred out of Canada and without the necessity of
     obtaining any authorization of any government in Canada or any political
     subdivision or taxing authority thereof or therein.

          (1) Under current laws and regulations of Canada and any political
     subdivision thereof, no withholding tax imposed under the federal laws of
     Canada or any political subdivision thereof will be payable in respect of
     the payment or crediting of any discount, commission or fee as contemplated
     by this Agreement to an Initial Purchaser that is not resident in Canada,
     but resident in the United States or if a partnership, all the members of
     which are not resident in Canada but resident in the United States, in each
     case, for purposes of the Income Tax Act (Canada) and the Canada-U.S.
     Income Tax Convention, 1980 (a "U.S. Purchaser") or any interest or deemed
     interest on the resale of Securities by a U.S. Purchaser to U.S. residents,
     provided that such U.S. Purchaser deals at arm's length with the Company
     and that any such discount, commission or fee is payable in respect

<PAGE>

     of services rendered by such U.S. Purchaser outside of Canada, that are
     performed by such U.S. Purchaser in the ordinary course of business carried
     on by it that includes the performance of such services for a fee; (2) no
     goods and services tax imposed under the federal laws of Canada will be
     collectible by a U.S. Purchaser in respect of the payment or crediting of
     any commission or fee as contemplated by this Agreement to any U.S.
     Purchaser; and (3) no stamp duty, registration or documentary taxes, duties
     or similar charges are or will be payable under the federal laws of Canada
     or any province or territory of Canada in connection with the creation,
     issuance, sale or delivery to a U.S. Purchaser of the Securities or the
     authorization, execution, delivery and performance of this Agreement, the
     Indenture or the Registration Rights Agreement, the resale of Securities by
     a U.S. Purchaser to U.S. residents, or the issuance of Exchange Securities
     or the Private Exchange Securities in exchange for Securities as
     contemplated by the Registration Rights Agreement.

               (xxx) No Directed Selling Efforts.

          With respect to those Securities sold in reliance on Regulation S, (A)
     none of the Company, any Subsidiary Guarantor, or any of their Affiliates
     or any person acting on its or their behalf (other than the Initial
     Purchasers, as to whom the Company and the Subsidiary Guarantors make no
     representation) has engaged or will engage in any directed selling efforts
     within the meaning of Regulation S and (B) each of the Company and the
     Subsidiary Guarantors and their Affiliates and any person acting on its or
     their behalf (other than the Initial Purchasers, as to whom the Company and
     the Subsidiary Guarantors make no representation) has complied and will
     comply with the offering restrictions requirement of Regulation S.

               (xxxi) No Stabilization or Manipulation.

          None of the Company and the Subsidiary Guarantors or any of their
     officers, directors or controlling persons has taken, directly or
     indirectly, any action designed to cause or to result in, or that has
     constituted or which might reasonably be expected to constitute, the
     stabilization or manipulation of the price of any security of the Company
     to facilitate the sale or resale of the Securities.

               (xxxii) No Distribution of Unauthorized Materials.

          Neither of the Company nor any of the Subsidiary Guarantors has
     distributed, and, prior to the later to occur of (A) the Closing Time and
     (B) completion of the distribution of the Securities, no such party will
     distribute, any offering material in connection with the offering and sale
     of the Securities other than the Offering Memorandum or other materials, if
     any, permitted by the 1933 Act and approved by the Initial Purchasers.

<PAGE>

               (xxxiii) Investment Company Act.

          The Company is not required to be registered as an investment company
     under the Investment Company Act of 1940, as amended.

               (xxxiv) Rule 144A Eligibility.

          The Securities are eligible for resale pursuant to Rule 144A and will
     not be, at the Closing Time, of the same class as securities listed on a
     national securities exchange registered under Section 6 of the Securities
     and Exchange Act of 1934, as amended (the "1934 Act"), or quoted in a U.S.
     automated interdealer quotation system.

               (xxxv) No General Solicitation.

          None of the Company, any of the Subsidiary Guarantors, any of their
     Affiliates or any person acting on its or their behalf (other than the
     Initial Purchasers, as to whom the Company and the Subsidiary Guarantors
     make no representation) has engaged or will engage, in connection with the
     offering of the Securities, in any form of general solicitation or general
     advertising within the meaning of Rule 502(c) under the 1933 Act.

               (xxxvi) No Registration Required.

          Subject to compliance by the Initial Purchasers with the
     representations and warranties set forth in Section 2 and the procedures
     set forth in Section 6 hereof, it is not necessary in connection with the
     offer, sale and delivery of the Securities to the Initial Purchasers and to
     each Subsequent Purchaser in the manner contemplated by this Agreement and
     the Offering Memorandum to register the Securities under the 1933 Act or to
     qualify the Indenture under the Trust Indenture Act of 1939, as amended.

          There is no order, ruling or direction of any Canadian securities
     regulator concerning the Company which would deny the benefit of an
     exemption otherwise provided for under applicable Canadian Securities Laws
     with respect to the distribution of the Securities or the Exchange Notes,
     if any (including resales of Securities or Exchange Notes, if any, by the
     Initial Purchasers to Subsequent Purchasers), and no proceedings which
     would reasonably be expected to result in any such order or ruling have
     been instituted or, to the knowledge of the Company, are pending or
     threatened.

               (xxxvii) Reporting Company.

          The Company is subject to the reporting requirements of Section 13 or
     Section 15(d) of the 1934 Act.

               (xxxix) Authorization of the DTC Agreement.

          The DTC Agreement has been duly authorized by the Company and
     constitutes a valid and binding agreement of the Company, enforceable
     against the Company in accordance

<PAGE>

     with its terms, except as the enforcement thereof may be limited by
     bankruptcy, insolvency (including, without limitation, all laws relating to
     fraudulent transfers), reorganization, moratorium or similar laws affecting
     enforcement of creditors' rights generally and as the enforceability of
     rights to indemnification and contribution thereunder may be limited by
     federal or state securities laws and applicable Canadian securities laws.

          (b) Officer's Certificates.

          Any certificate signed by any officer of the Company or any of its
subsidiaries delivered to counsel for the Initial Purchasers shall be deemed a
representation and warranty by the Company and such subsidiary to each Initial
Purchaser as to the matters covered thereby.

          SECTION 2. Sale and Delivery to Initial Purchasers; Closing.

          (a) Securities.

          On the basis of the representations and warranties herein contained
and subject to the terms and conditions herein set forth, the Company agrees to
sell to each Initial Purchaser, severally and not jointly, and each Initial
Purchaser, severally and not jointly, agrees to purchase from the Company, at
the price set forth in Schedule B, the aggregate principal amount of Securities
set forth in Schedule A opposite the name of such Initial Purchaser, plus any
additional principal amount of Securities which such Initial Purchaser may
become obligated to purchase pursuant to the provisions of Section 11 hereof.

          (b) Payment.

          Payment of the purchase price for, and delivery of certificates for,
the Securities shall be made at the offices of Cahill Gordon & Reindel LLP, 80
Pine Street, New York, NY 10005, or at such other place as shall be agreed upon
by the Initial Purchasers and the Company, at 9:00 A.M. (eastern time) on the
fifth business day after the date hereof (unless postponed in accordance with
the provisions of Section 11), or such other time not later than ten business
days after such date as shall be agreed upon by the Initial Purchasers and the
Company (such time and date of payment and delivery being herein called the
"Closing Time").

          Payment shall be made to the Company by wire transfer of immediately
available funds to a bank account designated by the Company, against delivery to
the Initial Purchasers of global certificates representing the entire aggregate
principal amount of the Securities, interests in which will be credited to the
accounts of each Initial Purchaser in the amounts set forth in Schedule A
hereto. Any of the Initial Purchasers may (but shall not be obligated to) make
payment of the purchase price for the Securities to be purchased by any other
Initial Purchaser in the event such other Initial Purchaser shall not have
delivered the requisite funds by the Closing Time, but such payment shall not
relieve the defaulting Initial Purchaser from its obligations hereunder.

<PAGE>

          (c) Denominations; Registration.

          Certificates for the Securities shall be in such denominations ($1,000
or integral multiples thereof and not in excess of $150,000,000 in aggregate) as
the Initial Purchasers may request in writing at least one full business day
before the Closing Time. The certificates representing the Securities shall be
registered in the name of Cede & Co., as nominee for the DTC and shall be made
available for examination and packaging by the Initial Purchasers in The City of
New York not later than 10:00 A.M. on the last business day prior to the Closing
Time.

          SECTION 3. Covenants of Company and the Subsidiary Guarantors.

          The Company and each Subsidiary Guarantor covenant with each Initial
Purchaser as follows:

          (a) Offering Memorandum.

          The Company, as promptly as possible, will furnish to each Initial
     Purchaser, without charge, such number of copies of the Preliminary
     Offering Memorandum, the Final Offering Memorandum and any amendments and
     supplements thereto and documents incorporated by reference therein as such
     Initial Purchaser may reasonably request.

          (b) Notice and Effect of Material Events.

          The Company will immediately notify each Initial Purchaser, and
     confirm such notice in writing, of (x) any filing made by the Company of
     information relating to the offering of the Securities with any securities
     exchange or any other regulatory body in the United States or any other
     jurisdiction, and (y) prior to the completion of the placement of the
     Securities by the Initial Purchasers as evidenced by a notice in writing
     from the Initial Purchasers to the Company, any material changes in or
     affecting the condition, financial or otherwise, or the earnings, business
     affairs or business prospects, of the Company and its subsidiaries which
     (i) make any statement in the Offering Memorandum false or misleading or
     (ii) are not disclosed in the Offering Memorandum. In such event or if
     during such time any event shall occur as a result of which it is
     necessary, in the reasonable opinion of any of the Company, its counsel,
     the Initial Purchasers or counsel for the Initial Purchasers, to amend or
     supplement the Final Offering Memorandum in order that the Final Offering
     Memorandum not include any untrue statement of a material fact or omit to
     state a material fact necessary in order to make the statements therein not
     misleading in the light of the circumstances then existing, the Company
     will forthwith amend or supplement the Final Offering Memorandum by
     preparing and furnishing to each Initial Purchaser an amendment or
     amendments of, or a supplement or supplements to, the Final Offering
     Memorandum (in form and substance satisfactory in the reasonable opinion of
     counsel for the Initial Purchasers) so that, as so amended or supplemented,
     the Final Offering Memorandum will not include any untrue statement of a
     material fact or omit to state a material fact necessary in order to make
     the statements therein, in the light of the

<PAGE>

     circumstances existing at the time it is delivered to a Subsequent
     Purchaser, not misleading.

          (c) Amendment to Offering Memorandum and Supplements.

          The Company will advise each Initial Purchaser promptly of any
     proposal to amend or supplement the Offering Memorandum and will not effect
     such amendment or supplement without the consent of the Initial Purchasers.
     Neither the consent of the Initial Purchasers, nor the Initial Purchaser's
     delivery of any such amendment or supplement, shall constitute a waiver of
     any of the conditions set forth in Section 5 hereof.

          (d) Qualification of Securities and Guarantees for Offer and Sale.

          The Company will use its best efforts, in cooperation with the Initial
     Purchasers, to qualify the Securities and the Guarantees for offering and
     sale under the applicable securities laws of such jurisdictions as the
     Initial Purchasers may reasonably designate and will maintain such
     qualifications in effect as long as required for the sale of the Securities
     and the Guarantees; provided, however, that the Company shall not be
     obligated to file any general consent to service of process or to qualify
     as a foreign corporation or as a dealer in securities in any jurisdiction
     in which it is not so qualified or to subject itself to taxation in respect
     of doing business in any jurisdiction in which it is not otherwise so
     subject.

          (e) Rating of Securities.

          The Company will take all reasonable action necessary to enable
     Standard and Poor's Ratings Corporation, a division of the McGraw-Hill
     Companies, ("S&P") and Moody's Investors Service Inc. ("Moody's") to
     provide their respective credit ratings of the Securities.

          (f) The Depository Trust Company.

          The Company will cooperate with the Initial Purchasers and use its
     reasonable best efforts to permit the Securities to be eligible for
     clearance and settlement through the facilities of the DTC.

          (g) Use of Proceeds.

          The Company will use the net proceeds received by it from the sale of
     the Securities in the manner specified in the Offering Memorandum under
     "Use of Proceeds."

          (h) Restriction on Sale of Securities.

          During a period of 180 days from the date of the Offering Memorandum,
     the Company will not, without the prior written consent of Merrill Lynch
     directly or indirectly, issue, sell, offer or agree to sell, grant any
     option for the sale of, or otherwise dispose

<PAGE>

     of, any other debt securities of the Company or securities of the Company
     that are convertible into, or exchangeable for, the Securities or such
     other debt securities.

          SECTION 4. Payment of Expenses.

          (a) Expenses.

          The Company will pay all expenses incident to the performance of its
obligations under this Agreement, the Securities, the Exchange Securities, the
Guarantees, the Registration Rights Agreement and the Indenture, including (i)
the preparation, printing and any filing of the Offering Memorandum (including
financial statements and any schedules or exhibits and any document incorporated
therein by reference) and of each amendment or supplement thereto, (ii) the
preparation, printing and delivery to the Initial Purchasers of this Agreement,
the Registration Rights Agreement and such other documents as may be required in
connection with the offering, purchase, sale, issuance or delivery of the
Securities and the Exchange Securities and the Guarantees, (iii) the
preparation, issuance, delivery and deposit of the certificates for the
Securities in accordance with Section 2(b) hereof, including any charges of The
Depository Trust Company in connection therewith, (iv) the fees and
disbursements of the Company's counsel, accountants and other advisors, (v) the
qualification of the Securities and the Guarantees under securities laws in
accordance with the provisions of Section 3(d) hereof, including filing fees and
the reasonable fees and disbursements of counsel for the Initial Purchasers in
connection therewith (other than in connection with the private placement of
Notes and Exchange Notes in Canada) and in connection with the preparation of
the blue sky survey, any supplement thereto and any legal investment survey,
(vi) the fees and expenses of the Trustee, including the fees and disbursements
of counsel for the Trustee, in connection with the Indenture and the Securities,
(vii) any fees payable in connection with the rating of the Securities, (viii)
one-half (50%) of the costs and expenses of the Company relating to investor
presentations on any "road show" undertaken in connection with the marketing of
the Securities, including, without limitation, expenses associated with the
production of road show slides and graphics, travel and lodging expenses of the
representatives and officers of the Company and the cost of aircraft and other
transportation chartered in connection with the road show and (ix) any fees and
expenses payable in connection with the initial and continued designation of the
Securities as PORTAL securities under the PORTAL Market Rules pursuant to NASD
Rule 5322.

          (b) Termination of Agreement.

          If this Agreement is terminated by the Initial Purchasers in
accordance with the provisions of Section 5 or Section 10(a)(i) hereof, the
Company and the Subsidiary Guarantors, jointly and severally, shall reimburse
the Initial Purchasers for all of their out-of-pocket expenses, including the
reasonable fees and disbursements of counsel for the Initial Purchasers.

          SECTION 5. Conditions of Initial Purchasers' Obligations.

          The obligations of the several Initial Purchasers hereunder are
subject to the accuracy of the representations and warranties of the Company and
the Subsidiary Guarantors contained

<PAGE>

in Section 1 hereof as of the date hereof and the Closing Time or in
certificates of any officer of the Company or any of its subsidiaries delivered
pursuant to the provisions hereof, to the performance by each of the Company and
the Subsidiary Guarantors of its covenants and other obligations hereunder, and
to the following further conditions:

          (a) Opinions of Counsel for the Company and Certain of its
     Subsidiaries.

          At the Closing Time, the Initial Purchasers shall have received the
     opinions, dated as of the Closing Time, of (i) Patterson Palmer and Ogilvy
     Renault, Canadian counsel for the Company and its subsidiaries, in form and
     substance and in all respects reasonably satisfactory to counsel for the
     Initial Purchasers (and, in giving such opinion may rely, as to all matters
     governed by the laws of jurisdictions other than the law of the Relevant
     Provinces and the federal law of Canada, upon the opinions of counsel
     satisfactory to counsel for the Initial Purchasers), (ii) Shearman &
     Sterling LLP., U.S. counsel for the Company and its subsidiaries, in form
     and substance and in all respects reasonably satisfactory to counsel for
     the Initial Purchasers, (iii) Paull & Williamsons, Scottish counsel for the
     Company and certain of the Subsidiary Guarantors organized under the laws
     of Scotland, in form and substance and in all respects reasonably
     satisfactory to counsel for the Initial Purchasers, (iv) Harridyahl &
     Sodha, Barbados counsel for the Company and certain of the Subsidiary
     Guarantors organized under the laws of Barbados, in form and substance and
     in all respects reasonably satisfactory to counsel for the Initial
     Purchasers, (v) Minter Ellison, Australian counsel for the Company and
     certain of the Subsidiary Guarantors organized under the laws of Australia,
     in form and substance and in all respects reasonably satisfactory to
     counsel for the Initial Purchasers, (vii) Berwin Leighton Paisner, English
     counsel for the Company and certain of the Subsidiary Guarantors organized
     under the laws of England and Wales, in form and substance and in all
     respects reasonably satisfactory to counsel for the Initial Purchasers,
     (viii)Van Doorne, special Dutch counsel for the Company and certain of the
     Subsidiary Guarantors organized under the laws of The Netherlands, in form
     and substance and in all respects reasonably satisfactory to counsel for
     the Initial Purchasers and (ix) Wiersholm Mellby & Bech advokat firma AS,
     Norwegian counsel for the Company and certain of its subsidiaries organized
     under the laws of Norway in form and substance and in all respects
     reasonably satisfactory to counsel for the Initial Purchasers. Each of the
     above counsels may state that, insofar as their respective opinion involves
     factual matters, they have relied, to the extent they deem proper, upon
     certificates of officers of the Company and its subsidiaries and
     certificates of public officials.

          (b) Opinion of Counsel for Initial Purchasers.

          At the Closing Time, the Initial Purchasers shall have received a
     satisfactory opinion, dated as of the Closing Time, of Cahill Gordon &
     Reindel LLP and Davies Ward Phillips & Vineberg LLP, counsel for the
     Initial Purchasers, with respect to the matters customarily covered by
     opinions to initial purchasers in similar transactions. In giving such
     opinion such counsel may rely upon the opinions of counsel satisfactory to
     the Initial Purchasers. Such counsel may also state that, insofar as such
     opinion involves factual

<PAGE>

     matters, they have relied, to the extent they deem proper, upon
     certificates of officers of the Company and its subsidiaries and
     certificates of public officials.

          (c) Officer's Certificate.

          At the Closing Time, there shall not have been, since the date hereof
     or since the respective dates as of which information is given in the
     Offering Memorandum (exclusive of any amendment or supplement thereto after
     the date hereof), any material adverse change in the condition, financial
     or otherwise, or in the earnings, business affairs or business prospects of
     the Company and its subsidiaries considered as one enterprise, whether or
     not arising in the ordinary course of business, and the Initial Purchasers
     shall have received a certificate of the President, the Chief Financial
     Officer, a Vice President, or equivalent senior-ranking officer of the
     Company and each Subsidiary Guarantor, dated as of the Closing Time, to the
     effect that (i) there has been no such material adverse change, (ii) the
     representations and warranties in Section 1 hereof are true and correct
     with the same force and effect as though expressly made at and as of the
     Closing Time, and (iii) the Company and each Subsidiary Guarantor have
     complied with all agreements and satisfied all conditions on their parts to
     be performed or satisfied at or prior to the Closing Time.

          (d) Accountants' Comfort Letters.

          At the time of the execution of this Agreement, the Initial Purchasers
     shall have received from Ernst & Young LLP, with respect to the historical
     financial data of the Company and all pro forma data contained in the
     Offering Memorandum, a letter dated such date, in form and substance
     satisfactory to the Initial Purchasers, containing statements and
     information of the type ordinarily included in accountants' "comfort
     letters" to Initial Purchasers with respect to the financial data contained
     in an offering memorandum.

          (e) Bring-down Comfort Letter.

          At the Closing Time, the Initial Purchasers shall have received from
     Ernst & Young LLP, with respect to the historical financial data of the
     Company and all pro forma data contained in the Offering Memorandum, a
     letter dated as of the Closing Time, to the effect that they reaffirm the
     statements made in the letter furnished pursuant to subsection (d) of this
     Section, except that the specified date referred to shall be a date not
     more than four business days prior to the Closing Time.

          (f) Portal Market.

          At the Closing Time, the Securities shall have been designated for
     trading on the Portal Market.

<PAGE>

          (g) Execution of Registration Rights Agreement and the Securities.

          At the Closing Time, the Securities and the Registration Rights
     Agreement in form and substance reasonably satisfactory to the Initial
     Purchasers, shall have been duly executed and delivered and be in full
     force and effect.

          (h) Credit Facility.

          At the Closing Time, the Company shall have received consents from the
     lenders under the Credit Facility and the Credit Facility shall have been
     amended such that the issuance of the Notes and the scheduled payments of
     interest thereon are permitted thereunder.

          (i) Additional Documents.

          At the Closing Time, counsel for the Initial Purchasers shall have
     been furnished with such documents and opinions as they may reasonably
     require for the purpose of enabling them to pass upon the issuance and sale
     of the Securities as herein contemplated, or in order to evidence the
     accuracy of any of the representations or warranties, or the fulfillment of
     any of the conditions, herein contained; and all proceedings taken by the
     Company in connection with the issuance and sale of the Securities as
     herein contemplated shall be reasonably satisfactory in form and substance
     to the Initial Purchasers and their counsel.

          (j) Termination of Agreement.

          If any condition specified in this Section shall not have been
     fulfilled when and as required to be fulfilled, this Agreement may be
     terminated by the Initial Purchasers by notice to the Company at any time
     at or prior to the Closing Time, and such termination shall be without
     liability of any party to any other party except as provided in Section 4
     and except that Sections 1, 7, 8 and 9 shall survive any such termination
     and remain in full force and effect.

          SECTION 6. Subsequent Offers and Resales of the Securities.

          (a) Offer and Sale Procedures.

          Each of the Initial Purchasers and the Company hereby establish and
agree to observe the following procedures in connection with the offer and sale
of the Securities:

               (i) Offers and Sales Only to Qualified Institutional Buyers or
     Non-U.S. Persons.

          Offers and sales of the Securities shall be made only to (A) persons
     whom the offeror or seller reasonably believes to be qualified
     institutional buyers (as defined in Rule 144A under the Securities Act) or
     (B) subject to (C) below, non-U.S. persons outside the

<PAGE>

     United States, as defined in Regulation S under the 1933 Act, to whom the
     offeror or seller reasonably believes offers and sales of the Securities
     may be made in reliance upon Regulation S under the 1933 Act or (C) in
     Canada and to residents of Canada, in transactions which are exempt from
     the prospectus requirements of applicable Canadian Securities Laws. Each
     Initial Purchaser severally agrees that it will not offer, sell or deliver
     any of the Securities in any jurisdiction outside the United States except
     under circumstances that will result in compliance with the applicable laws
     thereof, and that it will take at its own expense whatever action is
     required to permit its purchase and resale of the Securities in such
     jurisdictions.

               (ii) No General Solicitation or Directed Selling Efforts.

          No general solicitation or general advertising (within the meaning of
     Rule 502(c) under the 1933 Act), and no directed selling efforts (within
     the meaning of Rule 902(c) of Regulation S under the 1933 Act), will be
     used in the United States in connection with the offering or sale of the
     Securities. None of the Initial Purchasers nor any person acting on their
     behalf has made or will make offers or sales of the Securities in the
     Relevant Provinces by means of any printed media of general and regular
     paid circulation, radio or television or any other form of advertising.

               (iii) Purchases by Non-Bank Fiduciaries.

          In the case of a non-bank Subsequent Purchaser of a Security acting as
     a fiduciary for one or more third parties, each third party shall, in the
     judgment of the applicable Initial Purchaser, be a Qualified Institutional
     Buyer or a non-U.S. person outside the United States eligible to purchase
     Securities pursuant to Regulation S.

               (iv) Subsequent Purchaser Notification.

          Each Initial Purchaser shall take reasonable steps to inform persons
     acquiring Securities from such Initial Purchaser in the United States that
     the Securities (A) have not been and will not be registered under the 1933
     Act, (B) are being sold to them without registration under the 1933 Act in
     reliance on Rule 144A, and (C) may not be offered, sold or otherwise
     transferred except (1) to the Company, (2) outside the United States in
     accordance with Regulation S provided that the Securities may not be
     directly or indirectly sold in Canada for a period of four months and one
     day from the Closing Time except pursuant to an available exemption from
     the prospectus requirements of applicable Canadian Securities Laws, or (3)
     in accordance with (x) Rule 144A to a person whom the seller reasonably
     believes is a Qualified Institutional Buyer that is purchasing such
     Securities for its own account or for the account of a Qualified
     Institutional Buyer to whom notice is given that the offer, sale or
     transfer is being made in reliance on Rule 144A or (y) pursuant to another
     available exemption from registration under the 1933 Act.

<PAGE>

               (v) Minimum Principal Amount.

          No sale of the Securities to any one Subsequent Purchaser shall be for
     less than $100,000 principal amount and no Security will be issued in a
     smaller principal amount. If the Subsequent Purchaser is a non-bank
     fiduciary acting on behalf of others, each person for whom it is acting
     must purchase at least $100,000 principal amount of the Securities.

               (vi) Restrictions on Transfer.

          The transfer restrictions and the other provisions set forth in the
     Offering Memorandum under the heading "Notice to Investors," including the
     legend required thereby, shall apply to the Securities except as otherwise
     agreed by the Company and the Initial Purchasers.

               (vii) Delivery of Offering Memorandum.

          Each Initial Purchaser will deliver to each purchaser of the
     Securities from such Initial Purchaser, in connection with its original
     distribution of the Securities, a copy of the Offering Memorandum, as
     amended and supplemented at the date of such delivery and, in the case of
     purchasers resident in Canada, a copy of the Canadian Offering Memorandum,
     as amended and supplemented at the date of such delivery.

               (viii) Canadian Filing Requirements

          In connection with sales in Canada, the Initial Purchasers agree to
     make all filings reasonably required to be made with securities regulatory
     authorities in Canada with respect to the initial resale of the Securities
     by the Initial Purchasers to purchasers in Canada, including, without
     limitation, any required reports of the trades constituting such initial
     resales, and to pay all filing or other fees applicable in connection
     therewith.

          (b) Covenants of the Company and the Subsidiary Guarantors.

          The Company and each Subsidiary Guarantor covenant with each Initial
Purchaser as follows:

               (i) Integration.

          The Company and each Subsidiary Guarantor agree that they will not and
     will cause their Affiliates not to solicit any offer to buy or make any
     offer or sale of, or otherwise negotiate in respect of, securities of the
     Company of any class if, as a result of the doctrine of "integration"
     referred to in Rule 502 under the 1933 Act, such offer or sale would render
     invalid (for the purpose of (i) the sale of the Securities by the Company
     to the Initial Purchasers, (ii) the resale of the Securities by the Initial
     Purchasers to Subsequent Purchasers or (iii) the resale of the Securities
     by such Subsequent Purchasers to

<PAGE>

     others) the exemption from the registration requirements of the 1933 Act
     provided by Section 4(2) thereof or by Rule 144A or by Regulation S
     thereunder or otherwise.

               (ii) Rule 144A Information.

          The Company agrees that, in order to render the Securities eligible
     for resale pursuant to Rule 144A under the 1933 Act, while any of the
     Securities remain outstanding, it will make available, upon request, to any
     holder of Securities or prospective purchasers of Securities the
     information specified in Rule 144A(d)(4), unless the Company furnishes
     information to the Commission pursuant to Section 13 or 15(d) of the 1934
     Act (such information, whether made available to holders or prospective
     purchasers or furnished to the Commission, is herein referred to as
     "Additional Information").

               (iii) Restriction on Repurchases.

          Until the expiration of two years after the original issuance of the
     Securities, the Company and the Subsidiary Guarantors will not, and will
     cause their Affiliates not to, purchase or agree to purchase or otherwise
     acquire any Securities which are "restricted securities" (as such term is
     defined under Rule 144(a)(3) under the 1933 Act), whether as beneficial
     owner or otherwise (except as agent acting as a securities broker on behalf
     of and for the account of customers in the ordinary course of business in
     unsolicited broker's transactions).

          (c) Resale Pursuant to Rule 903 of Regulation S or Rule 144A.

          Each Initial Purchaser understands that the Securities have not been
and will not be registered under the 1933 Act or qualified under Canadian
Securities Laws and may not be offered or sold within the United States or to,
or for the account or benefit of, U.S. persons except in accordance with
Regulation S under the 1933 Act or pursuant to an exemption from the
registration requirements of the 1933 Act. Each Initial Purchaser severally
represents and agrees, that, except as permitted by Section 6(a) above, it has
offered and sold Securities and will offer and sell Securities (i) as part of
their distribution at any time and (ii) otherwise until forty days after the
later of the date upon which the offering of the Securities commences and the
Closing Time, only in accordance with Rule 903 of Regulation S, Rule 144A, or
another applicable exemption from the registration provisions of the 1933 Act
and in respect of sales in Canada, pursuant to applicable exemptions from the
prospectus requirements of the Canadian Securities Laws. Accordingly, neither
the Initial Purchasers or their Affiliates nor any persons acting on their
behalf have engaged or will engage in any directed selling efforts with respect
to the Securities, and the Initial Purchasers, their Affiliates and any person
acting on their behalf have complied and will comply with the offering
restriction requirements of Regulation S. Each Initial Purchaser agrees that, at
or prior to confirmation of a sale of Securities (other than a sale of
Securities pursuant to Rule 144A) it will have sent to each distributor, dealer
or person receiving a selling concession, fee or other remuneration that
purchases Securities from it or through it during the restricted period a
confirmation or notice to substantially the following effect:

<PAGE>

          The Securities covered hereby have not been registered under the
          United States Securities Act of 1933 (the "Securities Act") and may
          not be offered or sold within the United States or to or for the
          account or benefit of U.S. persons (i) as part of their distribution
          at any time and (ii) otherwise until forty days after the later of the
          date upon which the offering of the Securities commenced and the date
          of closing, except in either case in accordance with Regulation S,
          Rule 144A under the Securities Act or another exemption from the
          registration requirements of the 1933 Act. Terms used above have the
          meaning given to them by Regulation S.

Terms used in the above paragraph have the meanings given to them by Regulation
S.

          In addition, each Initial Purchaser agrees that it will not offer or
sell any Securities, directly or indirectly, in Canada or to, or for the account
of any resident of Canada in contravention of the securities laws of any
province or territory of Canada and it will advise each dealer to whom it sells
such Securities that there exist restrictions on offers and sales of the
Securities within Canada or to, or for the account of, any resident thereof.

          (d) Additional Representations and Warranties of Initial Purchasers.

          Each Initial Purchaser severally represents and agrees that it has not
entered and will not enter into any contractual arrangements with respect to the
distribution of the Securities, except with its Affiliates or with the prior
written consent of the Company.

          SECTION 7. Indemnification.

          (a) Indemnification of Initial Purchasers.

          The Company and each Subsidiary Guarantor, jointly and severally,
agree to indemnify and hold harmless each Initial Purchaser and each person, if
any, who controls any Initial Purchaser within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act as follows:

          (i) against any and all loss, liability, claim, damage and expense
     whatsoever, as incurred, arising out of any untrue statement or alleged
     untrue statement of a material fact contained in any Preliminary Offering
     Memorandum or the Final Offering Memorandum (or any amendment or supplement
     thereto), or the omission or alleged omission therefrom of a material fact
     necessary in order to make the statements therein, in the light of the
     circumstances under which they were made, not misleading;

          (ii) against any and all loss, liability, claim, damage and expense
     whatsoever, as incurred, to the extent of the aggregate amount paid in
     settlement of any litigation, or any investigation or proceeding by any
     governmental agency or body, commenced or threatened, or of any claim
     whatsoever based upon any such untrue statement or omission,

<PAGE>

     or any such alleged untrue statement or omission; provided that (subject to
     Section 7(d) below) any such settlement is effected with the written
     consent of the Company; and

          (iii) against any and all expense whatsoever, as incurred (including
     the fees and disbursements of counsel chosen by Merrill Lynch), reasonably
     incurred in investigating, preparing or defending against any litigation,
     or any investigation or proceeding by any governmental agency or body,
     commenced or threatened, or any claim whatsoever based upon any such untrue
     statement or omission, or any such alleged untrue statement or omission, to
     the extent that any such expense is not paid under (i) or (ii) above;

provided, however, that this indemnity agreement shall not apply to any loss,
liability, claim, damage or expense to the extent arising out of any untrue
statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with written information furnished to the Company by any
Initial Purchaser expressly for use in the Offering Memorandum (or any amendment
thereto); provided, further, that the Company and the Subsidiary Guarantors will
not be liable to the Initial Purchasers or any person controlling such Initial
Purchasers with respect to any such untrue statement or alleged untrue statement
or omission or alleged omission made in any Preliminary Offering Memorandum to
the extent that the Company and the Subsidiary Guarantors shall sustain the
burden of proving that any such loss, liability, claim, damage or expense
resulted from the fact that the Initial Purchasers sold securities to a person
to whom such Initial Purchasers failed to send or give, at or prior to the
written confirmation of the sale of such Securities, a copy of the Final
Offering Memorandum (as amended or supplemented) if the Company and the
Subsidiary Guarantors have previously furnished copies thereof to the Initial
Purchasers (sufficiently in advance of the Closing Time to allow for
distribution of the Final Offering Memorandum in a timely manner) and complied
with their obligations under Sections 3(b) and 3(c) hereof and the loss,
liability, claim, damage or expense of the Initial Purchasers resulted from an
untrue statement or omission or alleged untrue statement or omission of a
material fact contained in or omitted from such Preliminary Offering Memorandum
(as amended or supplemented) that was corrected in the Final Offering Memorandum
(as amended or supplemented).

          (b) Indemnification of the Company and the Subsidiary Guarantors

          Each Initial Purchaser severally agrees to indemnify and hold harmless
the Company and each Subsidiary Guarantor and each person, if any, who controls
the Company or any Subsidiary Guarantor within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act against any and all loss, liability,
claim, damage and expense described in the indemnity contained in subsection (a)
of this Section, as incurred, but only with respect to untrue statements or
omissions, or alleged untrue statements or omissions, made in the Offering
Memorandum in reliance upon and in conformity with written information furnished
to the Company by such Initial Purchaser expressly for use in the Offering
Memorandum.

          (c) Actions Against Parties; Notification.

          Each indemnified party shall give notice as promptly as reasonably
practicable to each indemnifying party of any action commenced against it in
respect of which indemnity may

<PAGE>

be sought hereunder, but failure to so notify an indemnifying party shall not
relieve such indemnifying party from any liability hereunder to the extent it is
not materially prejudiced as a result thereof and in any event shall not relieve
it from any liability which it may have otherwise than on account of this
indemnity agreement. In the case of parties indemnified pursuant to Section 7(a)
above, counsel to the indemnified parties shall be selected by Merrill Lynch,
and, in the case of parties indemnified pursuant to Section 7(b) above, counsel
to the indemnified parties shall be selected by the Company. An indemnifying
party may participate at its own expense in the defense of any such action;
provided, however, that counsel to the indemnifying party shall not (except with
the consent of the indemnified party) also be counsel to the indemnified party.
In no event shall the indemnifying parties be liable for fees and expenses of
more than one counsel (in addition to any local or specialized counsel that may
reasonably be required) separate from their own counsel for all indemnified
parties in connection with any one action or separate but similar or related
actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of
the indemnified parties, settle or compromise or consent to the entry of any
judgment with respect to any litigation, or any investigation or proceeding by
any governmental agency or body, commenced or threatened, or any claim
whatsoever in respect of which indemnification or contribution could be sought
under this Section 7 or Section 8 hereof (whether or not the indemnified parties
are actual or potential parties thereto), unless such settlement, compromise or
consent (i) includes an unconditional release of each indemnified party from all
liability arising out of such litigation, investigation, proceeding or claim and
(ii) does not include a statement as to or an admission of fault, culpability or
a failure to act by or on behalf of any indemnified party.

          (d) Settlement Without Consent if Failure to Reimburse.

          If at any time an indemnified party shall have requested an
indemnifying party to reimburse the indemnified party for fees and expenses of
counsel, such indemnifying party agrees that it shall be liable for any
settlement of the nature contemplated by Section 7(a)(ii) effected without its
written consent if (i) such settlement is entered into more than 45 days after
receipt by such indemnifying party of the aforesaid request, (ii) such
indemnifying party shall have received notice of the terms of such settlement at
least 30 days prior to such settlement being entered into and (iii) such
indemnifying party shall not have reimbursed such indemnified party in
accordance with its request prior to the date of such settlement.

          SECTION 8. Contribution.

          If the indemnification provided for in Section 7 hereof is for any
reason unavailable to or insufficient to hold harmless an indemnified party in
respect of any losses, liabilities, claims, damages or expenses referred to
therein, then each indemnifying party shall contribute to the aggregate amount
of such losses, liabilities, claims, damages and expenses incurred by such
indemnified party, as incurred, (i) in such proportion as is appropriate to
reflect the relative benefits received by the Company and the Subsidiary
Guarantors on the one hand and by the Initial Purchasers on the other hand from
the offering of the Securities pursuant to this Agreement or (ii) if the
allocation provided by clause (i) is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred
to in clause (i) above but also the

<PAGE>

relative fault of the Company and the Subsidiary Guarantors on the one hand and
of the Initial Purchasers on the other hand in connection with the statements or
omissions which resulted in such losses, liabilities, claims, damages or
expenses, as well as any other relevant equitable considerations.

          (a) The relative benefits received by the Company and the Subsidiary
Guarantors on the one hand and by the Initial Purchasers on the other hand in
connection with the offering of the Securities pursuant to this Agreement shall
be deemed to be in the same respective proportions as the total net proceeds
from the offering of the Securities pursuant to this Agreement (before deducting
expenses) received by the Company, and the total fees received by the Initial
Purchasers, bear to the aggregate initial offering price of the Securities.

          (b) The relative fault of the Company and the Subsidiary Guarantors on
the one hand and the Initial Purchasers on the other hand shall be determined by
reference to, among other things, whether any such untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material
fact relates to information supplied by the Company and any Subsidiary Guarantor
or by the Initial Purchasers and the parties' relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission.

          (c) The Company and the Subsidiary Guarantors and the Initial
Purchasers agree that it would not be just and equitable if contribution
pursuant to this Section 8 were determined by pro rata allocation (even if the
Initial Purchasers were treated as one entity for such purpose) or by any other
method of allocation which does not take account of the equitable considerations
referred to above in this Section 8. The aggregate amount of losses,
liabilities, claims, damages and expenses incurred by an indemnified party and
referred to above in this Section 8 shall be deemed to include any legal or
other expenses reasonably incurred by such indemnified party in investigating,
preparing or defending against any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any
claim whatsoever based upon any such untrue or alleged untrue statement or
omission or alleged omission.

          (d) Notwithstanding the provisions of this Section 8, no Initial
Purchaser shall be required to contribute any amount in excess of the amount by
which the total price at which the Securities underwritten by it and distributed
to the public were offered to the public exceeds the total price at which it
purchased the Securities from the Company plus the amount of any damages which
such Initial Purchaser has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission.

          (e) No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation.

          (f) For purposes of this Section 8, each person, if any, who controls
an Initial Purchaser within the meaning of Section 15 of the 1933 Act or Section
20 of the 1934 Act shall have the same rights to contribution as such Initial
Purchaser, and each person, if any, who controls

<PAGE>

the Company or any Subsidiary Guarantor within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act shall have the same rights to
contribution as the Company or the Subsidiary Guarantors, as the case may be.
The Initial Purchasers' respective obligations to contribute pursuant to this
Section 8 are several in proportion to the principal amount of Securities set
forth opposite their respective names in Schedule A hereto and not joint.

          SECTION 9. Representations, Warranties and Agreements to Survive
Delivery.

          All representations, warranties and agreements contained in this
Agreement or in certificates of officers of the Company or any Subsidiary
Guarantor submitted pursuant hereto shall remain operative and in full force and
effect, regardless of any investigation made by or on behalf of any Initial
Purchaser or controlling person, or by or on behalf of the Company or any
Subsidiary Guarantor, and shall survive delivery of the Securities to the
Initial Purchasers.

          SECTION 10. Termination of Agreement.

          (a) Termination; General.

          The Initial Purchasers may terminate this Agreement, by notice to the
Company, at any time at or prior to the Closing Time (i) if there has been,
since the time of execution of this Agreement or since the respective dates as
of which information is given in the Offering Memorandum (exclusive of any
amendment or supplement thereto after the date hereof), any material adverse
change in the condition, financial or otherwise, or in the earnings, business
affairs or business prospects of the Company and its subsidiaries considered as
one enterprise, whether or not arising in the ordinary course of business, or
(ii) if there has occurred any material adverse change in the financial markets
in the United States or the international financial markets, any outbreak of
hostilities or escalation thereof or other calamity or crisis or any change or
development involving a prospective change in national or international
political, financial or economic conditions, in each case the effect of which is
such as to make it, in the judgment of the Initial Purchasers, impracticable to
market the Securities or to enforce contracts for the sale of the Securities, or
(iii) if trading in any securities of the Company has been suspended or
materially limited by the Commission, The Toronto Stock Exchange or the New York
Stock Exchange, if trading generally in the Toronto Stock Exchange or the New
York Stock Exchange has been suspended or materially limited, or minimum or
maximum prices for trading have been fixed, or maximum ranges for prices have
been required, by such system or by order of the Commission, the National
Association of Securities Dealers, Inc. or any other competent authority, or
(iv) if a banking moratorium has been declared by Canadian, U.S. Federal or New
York authorities.

          (b) Liabilities.

          If this Agreement is terminated pursuant to this Section, such
termination shall be without liability of any party to any other party except as
provided in Section 4 hereof, and provided that Sections 1, 7, 8 and 9 shall
survive such termination and remain in full force and effect.

<PAGE>

          SECTION 11. Default by One or More of the Initial Purchasers.

          If any of the Initial Purchasers shall fail at the Closing Time to
purchase the Securities which it is obligated to purchase under this Agreement
(the "Defaulted Securities"), the other Initial Purchaser shall have the right,
within 24 hours thereafter, to purchase, or make arrangements for one or more
other qualified initial purchasers to purchase, all, but not less than all, of
the Defaulted Securities in such amounts as may be agreed upon and upon the
terms herein set forth; if, however, such other Initial Purchaser shall not have
completed such arrangements within such 24-hour period, then:

          (a) if the number of Defaulted Securities does not exceed 10% of the
aggregate principal amount of the Securities to be purchased hereunder, the
non-defaulting Initial Purchaser shall be obligated to purchase the full amount
thereof; or

          (b) if the number of Defaulted Securities exceeds 10% of the aggregate
principal amount of the Securities to be purchased hereunder, this Agreement
shall terminate without liability on the part of the non-defaulting Initial
Purchaser.

          (c) No action taken pursuant to this Section shall relieve any
defaulting Initial Purchaser from liability in respect of its default.

          (d) In the event of any such default which does not result in a
termination of this Agreement, either the Initial Purchasers or the Company
shall have the right to postpone the Closing Time for a period not exceeding
seven days in order to effect any required changes in the Offering Memorandum or
in any other documents or arrangements. As used herein, the term "Initial
Purchaser" includes any person substituted for an Initial Purchaser under this
Section 11.

          SECTION 12. Notices.

          All notices and other communications hereunder shall be in writing and
shall be deemed to have been duly given if mailed or transmitted by any standard
form of telecommunication. Notices to the Initial Purchasers shall be directed
to Merrill Lynch at Four World Financial Center, 250 Vesey Street, New York, New
York 10800, attention: Barry Price.

          SECTION 13. Parties.

          This Agreement shall inure to the benefit of and be binding upon the
Initial Purchasers, the Company, the Subsidiary Guarantors and their respective
successors. Nothing expressed or mentioned in this Agreement is intended or
shall be construed to give any person, firm or corporation, other than the
Initial Purchasers, the Company, the Subsidiary Guarantors and their respective
successors and the controlling persons and officers and directors referred to in
Sections 7 and 8 and their heirs and legal representatives, any legal or
equitable right, remedy or claim under or in respect of this Agreement or any
provision herein contained. This Agreement and all conditions and provisions
hereof are intended to be for the sole and exclusive benefit of the Initial
Purchasers, the Company, the Subsidiary Guarantors and their respective
successors,

<PAGE>

and said controlling persons and officers and directors and their heirs and
legal representatives, and for the benefit of no other person, firm or
corporation. No purchaser of Securities from any Initial Purchaser shall be
deemed to be a successor by reason merely of such purchase.

          SECTION 14. Appointment of Agent for Service.

          The Company and each of the Subsidiary Guarantors have designated CT
Corporation System as their authorized agent upon which process may be served in
any legal action or proceeding, including with respect to any state or federal
securities laws, that may be instituted in any federal court of the United
States or the court of any state thereof and arising out of or relating to this
Agreement. Service of process upon such agent at 111 Eighth Avenue, New York, NY
10011, or to the Subsidiary Guarantors listed on Schedule D to this Agreement at
the addresses listed thereon, shall be deemed in every respect effective service
of process upon the Company or any Subsidiary Guarantor, in any such legal
action or proceeding. The Company and each of the Subsidiary Guarantors hereby
submit to the nonexclusive jurisdiction of any such court in which any such
legal action or proceeding is so instituted and waive, to the extent they may
effectively do so, any objection they may have now or hereafter to the laying of
the venue of any such legal action or proceeding. The Company and the Subsidiary
Guarantors shall maintain such appointment so long as the Initial Purchasers
shall have any rights pursuant to the terms of this Agreement. The Company and
each of the Subsidiary Guarantors agree to take any and all action, including
the execution and filing of any and all such documents and instruments, as may
be necessary to continue such designation and appointment of such agent.

          SECTION 15. GOVERNING LAW AND TIME.

          THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY
TIME.

          SECTION 16. Effect of Headings.

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

<PAGE>

          If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Company a counterpart hereof, whereupon
this instrument, along with all counterparts, will become a binding agreement
between the Initial Purchasers and the Company and the Subsidiary Guarantors in
accordance with its terms.

                                      Very truly yours,

                                      CHC HELICOPTER CORPORATION

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and
                                             Chief Financial Officer

                                      CHC HELICOPTER HOLDINGS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and
                                             Chief Financial Officer

                                      CHC HELICOPTERS INTERNATIONAL INC.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and
                                             Chief Financial Officer

                                      VIKING HELICOPTERS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Vice President

<PAGE>

                                      CANADIAN HELICOPTERS (U.K.) LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      CHC SCOTIA LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director & Attorney Duly Appointed

                                      HELIWORLD LEASING, LTD

                                      By: /s/ Blake Fizzard
                                          --------------------------------------
                                      Name: Blake Fizzard
                                      Title: Director

                                      BRINTEL HOLDINGS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      BRINTEL HELICOPTERS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      FLIGHT HANDLING LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

<PAGE>

                                      BOND HELICOPTER SERVICES LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director & Attorney Duly Appointed

                                      NORTH DENES AERODROME LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      COURT AIR (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      COURT HELICOPTER SERVICES
                                         (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      COURT FLIGHT SAFETY (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

<PAGE>

                                      CHC HELICOPTERS (AFRICA)(PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      LLOYD HELICOPTER SERVICES LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      MANAGEMENT AVIATION LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      LLOYD HELICOPTER SERVICES PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

<PAGE>

                                      LLOYD OFFSHORE HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD BASS STRAIT HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD HELICOPTERS INTERNATIONAL PTY. LTD.,
                                      in its sole capacity and as trustee for
                                      THE AUSTRALIAN HELICOPTERS TRUST

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      CHC HELICOPTERS (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

                                      CHC LEASING (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

<PAGE>

                                      CHC CAPITAL (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

                                      CHC IRELAND LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director

                                      CHC SWEDEN AB

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      CHC NETHERLANDS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER LUCHTVAART GROEP BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      CAPITAL AVIATION SERVICES BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

<PAGE>

                                      HANDELSMAATSCHAPPIJ SCHREINER & CO. BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      LUCHTVAARTMAATSCHAPPIJ SCHREINER
                                         AIRWAYS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER NORTHSEA HELICOPTERS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER COMPONENTS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      MULTIFABS SURVIVAL LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER ONROEREND GOED BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

<PAGE>

                                      AVIATION PERSONNEL RECRUITMENT AND
                                      MANAGEMENT (APRAM) LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER TCHAD SA

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      4083423 CANADA INC.

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: President

                                      WHIRLY BIRD SERVICES LIMITED

                                      By: /s/ Neil Calvert
                                          --------------------------------------
                                      Name: Neil Calvert
                                      Title: Director

                                      CHC HELICOPTERS (MAURITIUS) LTD.

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director

<PAGE>

                                      HELIWORLD LEASING, LTD.

                                      By: /s/ Neil Calvert
                                          --------------------------------------
                                      Name: Neil Calvert
                                      Title: Director

                                      WHIRLY BIRD SERVICES LIMITED

                                      By: /s/ Lars Landsnes
                                          --------------------------------------
                                      Name: Lars Landsnes
                                      Title: Director

<PAGE>

CONFIRMED AND ACCEPTED,
as of the date first above written:

MERRILL LYNCH & CO.
MERRILL LYNCH, PIERCE, FENNER &
   SMITH INCORPORATED

MERRILL LYNCH, PIERCE, FENNER &
   SMITH INCORPORATED

By:   (signed)
    -------------------------------
Name:
      -----------------------------
Title:
       ----------------------------

J.P. MORGAN SECURITIES INC.

By: /s/ Graham Conran
    -------------------------------
Name: Graham Conran
Title: Vice President

SCOTIA CAPITAL (USA), INC.

By: /s/ Greg Greer
    -------------------------------
Name: Greg Greer
Title: Director

<PAGE>

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                                                    Principal
                                                                    Amount of
Name of Initial Purchaser                                          Securities
-------------------------                                        ---------------
<S>                                                              <C>
Merrill Lynch, Pierce, Fenner & Smith Incorporated ...........     $105,000,000
J.P. Morgan Securities Inc. ..................................     $ 22,500,000
Scotia Capital (USA) Inc. ....................................     $ 22,500,000

Total ........................................................     $150,000,000
                                                                   ------------
</TABLE>

                                   SCHEDULE B

                           CHC HELICOPTER CORPORATION
                                  $150,000,000
                    7 3/8% Senior Subordinated Notes due 2014

          1. The initial offering price of the Securities shall be 103.5% of the
principal amount thereof, plus accrued interest, if any, from the date of
issuance.

          2. The purchase price to be paid by the Initial Purchasers for the
Securities shall be 103.5% of the principal amount thereof; in addition, 1.00%
of 100% of the principal amount of the Securities will be remitted by the
Company to the Initial Purchasers as fees in connection with this offering.

          3. Interest on the Notes shall be payable on May 1 and November 1 of
each year, commencing May 1, 2005. The Notes will mature on May 1, 2014.

          4. The interest rate on the Securities shall be 7 3/8 % per annum.

          5. Except in the circumstances described in paragraphs 6 and 7 below,
the Notes shall not be redeemable at the option of the Company at any time prior
to May 1, 2009. The Notes shall be redeemable at the option of the Company, as a
whole or from time to time in part, at any time on or after May 1, 2009, at the
redemption prices (expressed as percentages of principal amount) set forth
below, together with accrued interest, if any, to the redemption date, if
redeemed during the 12-month period beginning on May 1 of the years indicated
below (subject to the right of holders of record on relevant record dates to
receive interest due on an interest payment date):

<PAGE>

<TABLE>
<CAPTION>
                          Redemption
Year                         Price
----                      ----------
<S>                       <C>
2009 ..................    103.688%
2010 ..................    102.458%
2011 ..................    101.229%
2012 and thereafter ...     100.00%
</TABLE>

          Before May 1, 2009, the Company may also redeem the Notes, as a whole
or from time to time in part, at a redemption price equal to 100% of the
principal amount thereof, plus the Applicable Premium (as defined in the
Indenture) as of, and accrued and unpaid interest and additional interest
thereon, if any, to, the date of redemption (the "Redemption Date").

          6. In addition, at any time or from time to time prior to May 1, 2007,
the Company, at its option, may redeem up to 35% of the original aggregate
principal amount of the Notes plus any Additional Notes (as defined in the
Indenture), within 90 days of one or more Public Equity Offerings (as defined in
the Indenture, with the net proceeds of such offering at a redemption price
equal to 107.375% of the principal amount thereof, together with accrued
interest, if any, to the redemption date (subject to the right of holders of
record on relevant record dates to receive interest due on relevant interest
payment dates); provided that immediately after giving effect to any such
redemption at least 65% of the original aggregate principal amount of the Notes
originally issued plus any Additional Notes remains outstanding.

          7. The Notes shall also be subject to redemption as a whole, but not
in part, at the option of the Company at any time, on not less than 30 nor more
than 60 days' prior written notice to the Holders (which notice shall be
irrevocable), at 100% of the principal amount, together with accrued interest
thereon to the redemption date, and all Additional Amounts (as defined in the
Indenture), if any, then due or becoming due on the redemption date, in the
event the Company or any Subsidiary Guarantor is, has become or would become
obligated to pay, on the next date on which any amount would be payable with
respect to the Notes, any Additional Amounts or indemnification payments (other
than in respect of Documentary Taxes) as a result of a change or amendment in
the laws (including any regulations or rulings promulgated thereunder) of a
Taxing Jurisdiction or any change in or new or different position regarding the
application, administration or interpretation of such laws, treaties,
regulations or rulings (including a holding, judgment or order by a court of
competent jurisdiction), which change is announced or becomes effective on or
after the date of the offering memorandum; provided that the Company determines,
in its business judgment, that the obligation to pay such Additional Amounts
cannot be avoided by the use of reasonable measures available to the Company or
a Subsidiary Guarantor.

          Notwithstanding the foregoing, no such notice of redemption shall be
given earlier than 90 days prior to the earliest date on which the Company or a
Subsidiary Guarantor would, but for such redemption, be obligated to make such
payment or withholding or later than 365 days after the Company or a Subsidiary
Guarantor first becomes liable to make such payment or withholding or later than
365 days after the Company or a Subsidiary Guarantor first becomes liable to
make such payment or withholding. Prior to the mailing of any

                                    Sch D-2

<PAGE>

notice of redemption of the Notes pursuant to the foregoing, the Company will
deliver to each Trustee an opinion of an independent tax counsel of recognized
international standing to the effect that the circumstances referred to above
exist. Each Trustee shall accept such opinion as sufficient evidence of the
satisfaction of the conditions precedent above, in which event it shall be
conclusive and binding on the Holders.

          8. Upon the occurrence of a Change of Control (as defined in the
Indenture), the Company will be obligated to make an offer to purchase all
outstanding Notes at a price of 101% of the principal amount thereof (determined
at the date of purchase), plus accrued and unpaid interest, if any, to the date
of purchase. Upon the occurrence of an Asset Sale (as defined in the Indenture)
(subject to the limits described within if the offer to purchase is made within
the first five years after the Notes are issued), the Company may be required to
make an offer to purchase all or a portion of the outstanding Notes at a price
of 100% of the principal amount thereof (determined at the date of purchase),
plus accrued and unpaid interest, if any, to the date of purchase.

                                    Sch D-3

<PAGE>

                                   SCHEDULE C
                              List of Subsidiaries

<TABLE>
<CAPTION>
                                                         PERCENTAGE OF EQUITY
                                                         OWNED BY THE COMPANY
                                                       (DIRECTLY OR INDIRECTLY)
                                                       ------------------------
<S>                                                    <C>
SUBSIDIARY GUARANTORS

4083423 Canada Inc.                                              100%
The Australian Helicopters Trust                                 100%
Aviation Personnel Recruitment and
   Management (APRAM) Limited                                    100%
Bond Helicopter Services Limited                                 100%
Brintel Helicopters Limited                                      100%
Brintel Holdings Limited                                         100%
Canadian Helicopters (U.K.) Limited                              100%
Capital Aviation Services BV                                     100%
CHC Capital (Barbados) Limited                                   100%
CHC Helicopter Holdings Limited                                  100%
CHC Helicopters (Africa) (Proprietary) Ltd.                      100%
CHC Helicopters (Barbados) Limited                               100%
CHC Helicopters International Inc.                               100%
CHC Helicopters (Mauritius) Ltd.                                 100%
CHC Ireland Limited                                              100%
CHC Leasing (Barbados) Limited                                   100%
CHC Netherlands BV                                               100%
CHC Scotia Limited                                               100%
CHC Sweden AB                                                    100%
Court Air (Proprietary) Ltd.                                     100%
Court Flight Safety (Proprietary) Ltd.                           100%
Court Helicopter Services (Proprietary) Ltd.                     100%
Flight Handling Limited                                          100%
Handelsmaatschappij Schreiner & Co. BV                           100%
Heliworld Leasing, Ltd.                                          100%
Lloyd Bass Strait Helicopters Pty. Ltd.                          100%
Lloyd Helicopter Services Limited                                100%
Lloyd Helicopter Services Pty. Ltd.                              100%
Lloyd Helicopters Pty. Ltd.                                      100%
Lloyd Helicopters International Pty. Ltd.                        100%
Lloyd Offshore Helicopters Pty. Ltd.                             100%
Luchtvaartmaatschappij Schreiner Airways BV                      100%
Management Aviation Limited                                      100%
North Denes Aerodrome Ltd.                                       100%
Schreiner Components BV                                          100%
Schreiner Luchtvaart Groep BV                                    100%
</TABLE>

                                    Sch C-1

<PAGE>

<TABLE>
<S>                                                    <C>
Schreiner Northsea Helicopters BV                                100%
Schreiner Onroerend Goed BV                                      100%
Schreiner Tchad SA                                               100%
Multifabs Survival Limited                                       100%
Viking Helicopters Limited                                       100%
Whirly Bird Services Limited                                     100%

RESTRICTED SUBSIDIARIES

APAC Limited                                                     100%
Bond Rotary Wing Limited                                         100%
Canadian Helicopters (International) Limited                     100%
CHC Denmark ApS                                                  100%
CHC Helicopters (South Africa) (Proprietary) Limited              75%
CHC Helikopter Services AS                                       100%
CHC Reinsurance SA                                               100%
Heliwest AS                                                      100%
Heliworld Leasing Limited                                        100%
Inter Aviation Support (IAS) Limited                             100%
Integra Leasing AS                                               100%
Schreiner Air Target Services BV                                 100%
Schreiner Components BV                                           80%

UNRESTRICTED SUBSIDIARIES

None
</TABLE>

                                     Sch D-2

<PAGE>

                                   SCHEDULE D
                               Service of Process

Current addresses for service of process in The Netherlands (as such addresses
for service of process may change if the offices of the relevant companies
change)

<TABLE>
<S>                                           <C>
Capital Aviation Services BV                  Diamantlaan 1
                                              2132 WV Hoofddorp
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director

CHC Netherlands BV                            Rokin 55
                                              1012 KK Amsterdam
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director

Handelmaatschappij Schreiner & Co. BV         Diamantlaan 1
                                              2132 WV Hoofddorp
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director

Luchtvaartmaatschappij Schreiner Airways BV   Diamantlaan 1
                                              2132 WV Hoofddorp
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director

Schreiner Luchtvaart Groep BV                 Diamantlaan 1
                                              2132 WV Hoofddorp
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: The President

Schreiner Northsea Helicopters BV             Luchthavenweg 18
                                              1786 PP Den Helder
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director

Schreiner Onroerend Goed BV                   Diamantlaan 1
                                              2132 WV Hoofddorp
                                              The Netherlands
                                              Fax: + 31 23 5555500
                                              Attn: Managing Director
</TABLE>

<PAGE>

<TABLE>
<S>                                           <C>
Schreiner Components BV                       Hengelder 22
                                              6g02 PA Zevenaar
                                              The Netherlands
                                              Fax + 31 23 5555500
                                              Attn: Managing Director
</TABLE><PAGE>
                                                                     Exhibit 4.7

                          REGISTRATION RIGHTS AGREEMENT

                                      among

                           CHC HELICOPTER CORPORATION,
                                     COMPANY

                         CHC HELICOPTER HOLDINGS LIMITED
                       CHC HELICOPTERS INTERNATIONAL INC.
                           VIKING HELICOPTERS LIMITED
                       CANADIAN HELICOPTERS (U.K.) LIMITED
                               CHC SCOTIA LIMITED
                            BRINTEL HOLDINGS LIMITED
                           BRINTEL HELICOPTERS LIMITED
                             FLIGHT HANDLING LIMITED
                        BOND HELICOPTER SERVICES LIMITED
                           NORTH DENES AERODROME LTD.
                          COURT AIR (PROPRIETARY) LTD.
                  COURT HELICOPTER SERVICES (PROPRIETARY) LTD.
                      COURT FLIGHT SAFETY (PROPRIETARY) LTD
                   CHC HELICOPTERS (AFRICA) (PROPRIETARY) LTD.
                        LLOYD HELICOPTER SERVICES LIMITED
                           MANAGEMENT AVIATION LIMITED
                       LLOYD HELICOPTER SERVICES PTY. LTD.
                      LLOYD OFFSHORE HELICOPTERS PTY. LTD.
                     LLOYD BASS STRAIT HELICOPTERS PTY. LTD.
                   LLOYD HELICOPTERS INTERNATIONAL PTY. LTD.,
                     in its own capacity and as trustee for
                        THE AUSTRALIAN HELICOPTERS TRUST
                           LLOYD HELICOPTERS PTY. LTD.
                       CHC HELICOPTERS (BARBADOS) LIMITED
                         CHC LEASING (BARBADOS) LIMITED
                         CHC CAPITAL (BARBADOS) LIMITED
                               CHC IRELAND LIMITED
                                  CHC SWEDEN AB
                               CHC NETHERLANDS BV
                          SCHREINER LUCHTVAART GROEP BV
                          CAPITAL AVIATION SERVICES BV
                     HANDELSMAATSCHAPPIJ SCHREINER & CO. BV
                   LUCHTVAARTMAATSCHAPPIJ SCHREINER AIRWAYS BV
                        SCHREINER NORTHSEA HELICOPTERS BV
                             SCHREINER COMPONENTS BV
                           MULTIFABS SURVIVAL LIMITED
                           SCHREINER ONROEREND GOED BV

<PAGE>

          AVIATION PERSONNEL RECRUITMENT AND MANAGEMENT (APRAM) LIMITED
                               SCHREINER TCHAD SA
                               4083423 CANADA INC.
                          WHIRLY BIRD SERVICES LIMITED
                         CHC HELICOPTERS (MAURITIUS) LTD
                             HELIWORLD LEASING, LTD
                              SUBSIDIARY GUARANTORS

                                       and
                               MERRILL LYNCH & CO.
                    MERRILL LYNCH, PIERCE, FENNER, SMITH INC.
                           J.P. MORGAN SECURITIES INC.
                            SCOTIA CAPITAL (USA) INC.
                               INITIAL PURCHASERS

Dated: March 22, 2005

                          REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") dated as of March
22, 2005 is made and entered into among CHC HELICOPTER CORPORATION (the
"Company"), a corporation incorporated under the federal laws of Canada, each of
CHC HELICOPTER HOLDINGS LIMITED, a corporation incorporated under the federal
laws of Canada, CHC HELICOPTERS INTERNATIONAL INC., a corporation incorporated
under the federal laws of Canada, VIKING HELICOPTERS LIMITED, a corporation
incorporated under the federal laws of Canada, CANADIAN HELICOPTERS (U.K.)
LIMITED, a corporation incorporated under the laws of Scotland, CHC SCOTIA
LIMITED, a corporation incorporated under the laws of England and Wales, BRINTEL
HOLDINGS LIMITED, a corporation incorporated under the laws of Scotland, BRINTEL
HELICOPTERS LIMITED, a corporation incorporated under the laws of Scotland,
FLIGHT HANDLING LIMITED, a corporation incorporated under the laws of Scotland,
BOND HELICOPTER SERVICES LIMITED, a corporation incorporated under the laws of
SCOTLAND, NORTH DENES AERODROME LTD., a corporation incorporated under the laws
of England and Wales, COURT AIR (PROPRIETARY) LTD., a corporation incorporated
under the laws of South Africa, COURT HELICOPTER SERVICES (PROPRIETARY) LIMITED,
a corporation incorporated under the laws of South Africa, COURT FLIGHT SAFETY
(PROPRIETARY) LTD., a corporation incorporated under the federal laws of South
Africa, CHC HELICOPTERS (AFRICA) (PROPRIETARY) LTD., a corporation incorporated
under the federal laws of South Africa, LLOYD HELICOPTER SERVICES LIMITED, a
corporation incorporated under the laws of Scotland, MANAGEMENT AVIATION
LIMITED, a corporation incorporated under the laws of England and Wales, LLOYD
HELICOPTER SERVICES PTY. LTD., a corporation incorporated under the federal laws
of Australia, LLOYD OFFSHORE HELICOPTERS PTY. LTD., a corporation incorporated
under the federal laws of Australia, LLOYD BASS STRAIT HELICOPTERS PTY. LTD., a
corporation incorporated under the federal laws of Australia, LLOYD HELICOPTERS
INTERNATIONAL PTY. LTD. in its own capacity and as trustee of the The Australian
Helicopters Trust, a trust existing under the laws of Australia, a corporation
incorporated under the federal laws of Australia, LLOYD HELICOPTERS PTY. LTD., a
Corporation incorporated

                                        2

<PAGE>

under the federal laws of Australia, CHC HELICOPTERS (BARBADOS) LIMITED, a
corporation incorporated under the laws of Barbados, CHC CAPITAL (BARBADOS)
LIMITED, a corporation incorporated under the laws of Barbados, CHC LEASING
(BARBADOS) LIMITED, a corporation incorporated under the laws of Barbados, CHC
IRELAND LIMITED, a corporation incorporated under the federal laws of Ireland,
CHC SWEDEN AB, a corporation incorporated under the laws of Sweden, CHC
NETHERLANDS BV, a corporation incorporated under the laws of The Netherlands,
SCHREINER LUCHTVAART GROEP BV, a corporation incorporated under the laws of The
Netherlands, CAPITAL AVIATION SERVICES BV, a corporation incorporated under the
laws of The Netherlands, HANDELSMAATSCHAPPIJ SCHREINER & CO. BV, a corporation
incorporated under the laws of The Netherlands, LUCHTVAARTMAATSCHAPPIJ SCHREINER
AIRWAYS BV, a corporation incorporated under the laws of The Netherlands,
SCHREINER NORTHSEA HELICOPTERS BV, a corporation incorporated under the laws of
The Netherlands, SCHREINER COMPONENTS BV, a corporation incorporated under the
laws of the The Netherlands, MULTIFABS SURVIVAL LIMITED, a corporation
incorporated under the laws of Scotland, SCHREINER ONROEREND GOED BV, a
corporation incorporated under the laws of The Netherlands, AVIATION PERSONNEL
RECRUITMENT AND MANAGEMENT (APRAM) LIMITED, a corporation incorporated under the
laws of Cyprus, SCHREINER TCHAD SA, a corporation incorporated under the laws of
Tchad, 4083423 Canada Inc., a corporation incorporated under the federal laws of
Canada, WHIRLY BIRD SERVICES LIMITED, a corporation incorporated under the laws
of Scotland, CHC HELICOPTERS (MAURITIUS) LTD., a corporation incorporated under
the laws of Mauritius and HELIWORLD LEASING LTD, a company limited by shares
duly organized and existing under the laws of England and Wales (collectively,
the "Subsidiary Guarantors") and MERRILL LYNCH & CO. and MERRILL LYNCH, PIERCE,
FENNER, SMITH INCORPORATED, J.P. MORGAN SECURITIES INC. and SCOTIA CAPITAL (USA)
INC. (collectively, the "Initial Purchasers").

          This Agreement is made pursuant to the Purchase Agreement dated March
15, 2005 among the Company, the Subsidiary Guarantors and the Initial Purchasers
(the "Purchase Agreement"), which provides for the issue and sale by the Company
to the Initial Purchasers of $150,000,000 aggregate principal amount of the
Company's 7 3/8% Senior Subordinated Notes due 2014 (the "Notes"). In order to
induce the Initial Purchasers to enter into the Purchase Agreement, the Company
and the Subsidiary Guarantors have agreed to provide to the Initial Purchasers
and their direct and indirect transferees the registration rights set forth in
this Agreement. The execution and delivery of this Agreement is a condition to
the closing under the Purchase Agreement.

          In consideration of the foregoing, the parties hereto agree as
follows:

          1. Definitions. As used in this Agreement, the following capitalized
defined terms shall have the following meanings:

          "1933 Act" shall mean the Securities Act of 1933, as amended from time
     to time, and the rules and regulations of the SEC promulgated thereunder.

                                        3

<PAGE>

          "1934 Act" shall mean the Securities Exchange Act of 1934, as amended
     from time to time, and the rules and regulations of the SEC promulgated
     thereunder.

          "Canadian Legend" shall mean the portion of the legend relating to
     trades to residents of Canada set forth in the Offering Memorandum under
     the heading "Notice to Investors."

          "Common Depositary" shall mean The Depositary Trust Company, or any
     other depositary appointed by the Company; provided, however, that such
     depositary must have an address in the Borough of Manhattan in the City of
     New York.

          "Company" shall have the meaning set forth in the preamble of this
     Agreement and also includes the Company's successors.

          "Exchange Notes" shall mean 7 3/8% Senior Subordinated Notes due 2014
     of the Company, issued under the Indenture, containing terms identical to
     the Notes and evidencing the same continuing indebtedness of the Company
     (except that (a) interest thereon shall accrue from the last date on which
     interest was paid on the Notes or, if no such interest has been paid, from
     March 22, 2005 (b) the transfer restrictions thereon shall be eliminated
     (except that the Exchange Notes will bear the Canadian Legend until such
     time as such legend has been removed pursuant to, or is no longer required
     by, the Indenture) and (c) certain provisions relating to an increase in
     the stated rate of interest thereon shall be eliminated), to be offered to
     Holders of Registrable Notes in exchange for Notes pursuant to the Exchange
     Offer.

          "Exchange Offer" shall mean the exchange offer by the Company of
     Exchange Notes for Registrable Notes pursuant to Section 2(a) hereof.

          "Exchange Offer Registration" shall mean a registration under the 1933
     Act effected pursuant to Section 2(a) hereof.

          "Exchange Offer Registration Statement" shall mean an exchange offer
     registration statement on Form F-4 (or, if applicable, on another
     appropriate form), and all amendments and supplements to such registration
     statement, in each case including the Prospectus contained therein, all
     exhibits thereto and all material incorporated by reference therein.

          "Holders" shall mean the Initial Purchasers, for so long as they own
     any Registrable Notes, and each of their successors, assigns and direct and
     indirect transferees who become registered owners of Registrable Notes
     under the Indenture.

          "Indenture" shall mean the Indenture relating to the Notes dated as of
     April 27, 2004, among the Company, the Subsidiary Guarantors and The Bank
     of New York, as trustee, as the same may be amended or supplemented from
     time to time in accordance with the terms thereof.

          "Initial Purchasers" shall have the meaning set forth in the preamble
     of this Agreement.

                                        4

<PAGE>

          "Inspectors" shall have the meaning set forth in Section 3(o).

          "Issue Date" means March 22, 2005.

          "Majority Holders" shall mean the Holders of a majority of the
     aggregate principal amount of Registrable Notes outstanding; provided that
     whenever the consent or approval of Holders of a specified percentage of
     Registrable Notes is required hereunder, Registrable Notes held by the
     Company or any of its affiliates (as such term is defined in Rule 405 under
     the 1933 Act) (other than the Initial Purchasers or subsequent holders of
     Registrable Notes if such subsequent holders are deemed to be such
     affiliates solely by reason of their holding of such Registrable Notes)
     shall be disregarded in determining whether such consent or approval was
     given by the Holders of such required percentage or amount.

          "Notes" shall have the meaning set forth in the preamble of this
     Agreement.

          "Offering Memorandum" shall mean the Offering Memorandum dated March
     15, 2005 for CHC Helicopter Corporation's offering of 7 3/8% Senior
     Subordinated Notes due 2014.

          "Participating Broker-Dealer" shall have the meaning set forth in
     Section 3(f).

          "Person" shall mean an individual, partnership, limited liability
     company, corporation, trust or unincorporated organization, or a government
     or agency or political subdivision thereof.

          "Prospectus" shall mean the prospectus included in a Registration
     Statement, including any preliminary prospectus, and any such prospectus as
     amended or supplemented by any prospectus supplement, including a
     prospectus supplement with respect to the terms of the offering of any
     portion of the Registrable Notes covered by a Shelf Registration Statement,
     and by all other amendments and supplements to a prospectus, including
     post-effective amendments, and in each case including all material
     incorporated by reference therein.

          "Purchase Agreement" shall have the meaning set forth in the preamble
     of this Agreement.

          "Registrable Notes" shall mean the Notes; provided, however, that any
     Notes shall cease to be Registrable Notes when (i) a Registration Statement
     with respect to such Notes shall have been declared effective under the
     1933 Act and such Notes shall have been disposed of pursuant to such
     Registration Statement, (ii) such Notes shall have been sold under Rule 144
     or shall have become eligible to be sold to the public pursuant to Rule 144
     or Rule 144(k) (or any similar provision then in force, but not Rule 144A)
     under the 1933 Act, (iii) such Notes shall have ceased to be outstanding or
     (iv) such Notes have been exchanged for Exchange Notes upon consummation of
     the Exchange Offer.

                                        5

<PAGE>

          "Registration Expenses" shall mean any and all expenses incident to
     performance of or compliance by the Company and the Subsidiary Guarantors
     with this Agreement, including without limitation: (i) all SEC, stock
     exchange or National Association of Securities Dealers, Inc. ("NASD")
     registration and filing fees, (ii) all fees and expenses incurred in
     connection with compliance with state securities or blue sky laws and
     compliance with the rules of the NASD (including reasonable fees and
     disbursements of one counsel for any underwriters and Holders in connection
     with state or blue sky qualification of any of the Exchange Notes or
     Registrable Notes), (iii) all filing fees in respect of any issuance of
     Exchange Notes by way of private placement to Holders in Canada, (iv) all
     expenses of any Persons in preparing or assisting in preparing, word
     processing, printing and distributing any Registration Statement, any
     Prospectus, any amendments or supplements thereto, any underwriting
     agreements, securities sales agreements, certificates representing the
     Exchange Notes and other documents relating to the performance of and
     compliance with this Agreement, (v) all rating agency fees, (vi) all fees
     and expenses incurred in connection with the listing, if any, of any of the
     Registrable Notes on any securities exchange or exchanges, (vii) the fees
     and disbursements of counsel for the Company and the Subsidiary Guarantors
     and, in the case of a Shelf Registration Statement, the reasonable fees and
     disbursements (including the expenses of preparing and distributing any
     underwriting or securities sales agreements) of one counsel for the Holders
     (which counsel shall be selected in writing by the Majority Holders),
     (viii) the fees and expenses of the independent public accountants of the
     Company and the Subsidiary Guarantors, including the expenses of any
     special audits or "cold comfort" letters required by or incident to such
     performance and compliance, (ix) the fees and expenses of the Trustee, and
     any escrow agent or custodian, (x) all fees and disbursements relating to
     the qualification of the Indenture under applicable securities laws, (xi)
     the fees and expenses of a "qualified independent underwriter" as defined
     by Conduct Rule 2720 of the NASD, if required by the NASD rules, in
     connection with the offering of the Registrable Notes and (xii) in the case
     of any underwritten offering, any fees and disbursements of the
     underwriters customarily required to be paid by issuers or sellers of
     securities and the reasonable fees and expenses of any experts retained by
     the Company and the Subsidiary Guarantors in connection with any
     Registration Statement, but excluding underwriting discounts and
     commissions and transfer taxes, if any, relating to the sale or disposition
     of Registrable Notes by a Holder.

          "Registration Statement" shall mean any registration statement of the
     Company and the Subsidiary Guarantors which covers any of the Exchange
     Notes or Registrable Notes pursuant to the provisions of this Agreement,
     and all amendments and supplements to any such Registration Statement,
     including post-effective amendments, in each case including the Prospectus
     contained therein, all exhibits thereto and all material incorporated by
     reference therein.

          "SEC" shall mean the United States Securities and Exchange Commission.

          "Shelf Registration" shall mean a registration effected pursuant to
     Section 2(b) hereof.

                                        6

<PAGE>

          "Shelf Registration Statement" shall mean a shelf registration
     statement of the Company and the Subsidiary Guarantors pursuant to the
     provisions of Section 2(b) of this Agreement which covers all of the then
     Registrable Notes on an appropriate form under Rule 415 under the 1933 Act,
     or any similar rule that may be adopted by the SEC, and all amendments and
     supplements to such registration statement, including post-effective
     amendments, in each case including the Prospectus contained therein, all
     exhibits thereto and all material incorporated by reference therein.

          "Subsidiary Guarantors" shall have the meaning set forth in the
     preamble of this Agreement.

          "Trustee" shall mean the trustee with respect to the Notes under the
     Indenture.

          2. Registration Under the 1933 Act.

          (a) Exchange Offer Registration. The Company and the Subsidiary
Guarantors shall, at their own expense (i) file with the SEC within 195 days
after the Issue Date an Exchange Offer Registration Statement covering the offer
by the Company to the Holders to exchange all of the Registrable Notes for
Exchange Notes, (ii) use their best efforts to cause such Exchange Offer
Registration Statement to be declared effective by the SEC within 240 days after
the Issue Date, (iii) to cause such Registration Statement to remain effective
until the closing of the Exchange Offer and (iv) to use their best efforts to
consummate the Exchange Offer within 270 days following the Issue Date. The
Exchange Notes will be issued under the Indenture. Upon the effectiveness of the
Exchange Offer Registration Statement, the Company shall promptly commence the
Exchange Offer, it being the objective of such Exchange Offer to enable each
Holder (other than Participating Broker-Dealers) eligible and electing to
exchange Registrable Notes for Exchange Notes evidencing the same continuing
indebtedness of the Company (assuming that such Holder (i) is not an affiliate
of the Company within the meaning of Rule 405 under the 1933 Act, (ii) acquires
the Exchange Notes in the ordinary course of such Holder's business and (iii)
has no arrangements or understandings with any Person to participate in the
Exchange Offer for the purpose of distributing the Exchange Notes) to trade such
Exchange Notes from and after their receipt without any limitations or
restrictions under the 1933 Act and without material restrictions under the
securities laws of a substantial proportion of the several states of the United
States. Notwithstanding anything contained herein, the Company and the
Subsidiary Guarantors shall not be required to make an Exchange Offer in any
province or territory of Canada or to accept Registrable Notes surrendered by
residents of Canada in the Exchange Offer, unless the distribution of Exchange
Notes pursuant to such offer can be effected pursuant to exemptions from the
registration and prospectus requirements of the applicable securities laws of
such province or territory of Canada.

          In connection with the Exchange Offer, the Company and the Subsidiary
Guarantors shall:

               (i) mail to each Holder a copy of the Prospectus forming part of
          the Exchange Offer Registration Statement, together with an
          appropriate letter of transmittal and related documents and, in the
          case of Holders in Canada, any

                                        7

<PAGE>

          "wrapped" version thereof used in connection with the private
          placement of the Exchange Notes in Canada;

               (ii) keep the Exchange Offer open for not less than 30 days after
          the date notice thereof is mailed to the Holders (or longer if
          required by applicable law);

               (iii) use the services of the Common Depositary for the Exchange
          Offer with respect to Notes evidenced by global certificates;

               (iv) permit Holders to withdraw tendered Registrable Notes at any
          time prior to 5:00 P.M. New York City time, on the last business day
          on which the Exchange Offer shall remain open, by sending to the
          institution specified in the notice, a telegram, telex, facsimile
          transmission or letter setting forth the name of such Holder, the
          principal amount of Registrable Notes delivered for exchange, and a
          statement that such Holder is withdrawing its election to have such
          Notes exchanged; and

               (v) otherwise comply in all respects with all applicable laws
          relating to the Exchange Offer.

          As soon as practicable after the close of the Exchange Offer, the
          Company shall:

               (i) accept for exchange Registrable Notes validly tendered and
          not validly withdrawn pursuant to the Exchange Offer in accordance
          with the terms of the Exchange Offer Registration Statement and the
          letter of transmittal which is an exhibit thereto;

               (ii) deliver, or cause to be delivered, to the Trustee for
          cancellation all Registrable Notes so accepted for exchange by the
          Company; and

               (iii) cause the Trustee promptly to authenticate and deliver
          Exchange Notes to each Holder of Registrable Notes equal in principal
          amount to the principal amount of the Registrable Notes of such Holder
          so accepted for exchange.

          Interest will accrue on each Exchange Note exchanged for a Registrable
Note, from the last date on which interest was paid on the Notes surrendered in
exchange therefor. If no interest has been paid on the Notes, such interest will
accrue from March 22, 2005. The Exchange Offer shall not be subject to any
conditions, other than (i) that the Exchange Offer, or the making of any
exchange by a Holder, does not violate applicable law or any applicable
interpretation of the staff of the SEC, and (ii) the due tendering of
Registrable Notes in accordance with the Exchange Offer. Each Holder of
Registrable Notes (other than Participating Broker-Dealers) who wishes to
exchange such Registrable Notes for Exchange Notes in the Exchange Offer shall
represent that (i) it is not an affiliate (as defined in Rule 405 under the 1933
Act) of the Company or any Subsidiary Guarantor or, if it is such an affiliate,
it will comply with the registration and prospectus delivery requirements of the
1933 Act to the extent applicable, (ii) any Exchange Notes to be received by it
will be acquired in the ordinary course of business and (iii) at the time of the
commencement of the Exchange Offer it has no arrangement with any

                                        8

<PAGE>

Person to participate in the distribution (within the meaning of the 1933 Act)
of the Exchange Notes and shall have made such other representations as may be
reasonably necessary under applicable SEC rules, regulations or interpretations
to render the use of Form F-4 or another appropriate form under the 1933 Act
available. The Company shall inform the Initial Purchasers of the names and
addresses of the Holders to whom the Exchange Offer is made, and the Initial
Purchasers shall have the right to contact such Holders and otherwise facilitate
the tender of Registrable Notes in the Exchange Offer.

          (b) Shelf Registration. In the event that (i) any changes in law or
the applicable interpretations of the staff of the SEC do not permit the Company
to effect the Exchange Offer as contemplated by Section 2(a) hereof; (ii) if for
any other reason the Exchange Offer is not consummated within 270 days following
the Issue Date; (iii) if any Holder (other than an Initial Purchaser or a
resident of Canada) is not eligible to participate in the Exchange Offer or (iv)
upon the request of any Initial Purchaser (with respect to any Registrable Notes
which it acquired from the Company) following the consummation of the Exchange
Offer if any such Initial Purchaser shall hold Registrable Notes which it
acquired directly from the Company and if such Initial Purchaser is not
permitted, in the opinion of counsel to such Initial Purchaser, pursuant to
applicable law or applicable interpretation of the staff of the SEC to
participate in the Exchange Offer, the Company and the Subsidiary Guarantors
shall, at their own cost:

               (A) as promptly as practicable, file with the SEC a Shelf
          Registration Statement relating to the offer and sale of the
          Registrable Notes by the Holders from time to time in accordance with
          the methods of distribution elected by the Majority Holders of
          Registrable Notes and set forth in such Shelf Registration Statement,
          and use their best efforts to cause such Shelf Registration Statement
          to be declared effective by the SEC within 270 days after the Issue
          Date (or promptly in the event of a request by an Initial Purchaser
          pursuant to clauses (iv) above). In the event that the Company is
          required to file a Shelf Registration Statement upon the request of
          any Holder (other than an Initial Purchaser or a resident of Canada)
          not eligible to participate in the Exchange Offer pursuant to clause
          (iii) above or upon the request of any Initial Purchaser pursuant to
          clause (iv) above, the Company and the Subsidiary Guarantors shall
          file and use their best efforts to have declared effective by the SEC
          both an Exchange Offer Registration Statement pursuant to Section 2(a)
          with respect to all Registrable Notes and a Shelf Registration
          Statement (which may be a Registration Statement combined with the
          Exchange Offer Registration Statement) with respect to offers and
          sales of Registrable Notes held by such Holder or such Initial
          Purchaser after completion of the Exchange Offer;

               (B) use their best efforts to keep the Shelf Registration
          Statement continuously effective in order to permit the Prospectus
          forming part thereof to be usable by Holders for a period of two years
          from the date the Shelf Registration Statement is declared effective
          by the SEC (or one year from the date the Shelf Registration Statement
          is declared effective if such Shelf Registration Statement is filed
          upon the request of any Initial Purchaser pursuant to clause (iv)
          above) or such shorter period which will terminate when all of the
          Registrable Notes

                                        9

<PAGE>

          covered by the Shelf Registration Statement have been sold pursuant to
          the Shelf Registration Statement; and

               (C) notwithstanding any other provisions hereof, use its best
          efforts to ensure that (x) any Shelf Registration Statement and any
          amendment thereto and any Prospectus forming part thereof and any
          supplement thereto comply in all material respects with the 1933 Act
          and the rules and regulations thereunder, (y) any Shelf Registration
          Statement and any amendment thereto do not, upon effectiveness,
          contain an untrue statement of a material fact or omit to state a
          material fact required to be stated therein or necessary to make the
          statements therein not misleading and (z) any Prospectus forming part
          of any Shelf Registration Statement, and any supplement to such
          Prospectus (as amended or supplemented from time to time), do not
          include an untrue statement of a material fact or omit to state a
          material fact necessary in order to make the statements, in light of
          the circumstances under which they were made, not misleading.

          No Holder of Registrable Notes may include any of its Registrable
Notes in any Shelf Registration pursuant to this Agreement unless and until such
Holder furnishes to the Company in writing such information as the Company may,
after conferring with counsel, reasonably request for inclusion in any Shelf
Registration Statement or Prospectus included therein.

          The Company and the Subsidiary Guarantors further agree, if necessary,
to supplement or amend the Shelf Registration Statement if requested by the
Majority Holders of Notes that are Registrable Notes with respect to information
relating to the Holders and otherwise as required by Section 3(b) below, to use
all reasonable efforts to cause any such amendment to become effective and such
Shelf Registration to become usable as soon as thereafter practicable and to
furnish to the Holders of Registrable Notes copies of any such supplement or
amendment promptly after its being used or filed with the SEC.

          (c) Expenses. The Company and the Subsidiary Guarantors shall pay all
Registration Expenses in connection with the registration pursuant to Section
2(a) and 2(b) and, in the case of an Exchange Offer Registration Statement, will
reimburse the Initial Purchasers, for the reasonable fees and disbursements of
one firm or counsel in connection therewith. Each Holder shall pay all expenses
of its counsel other than as set forth in the preceding sentence, underwriting
discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of such Holder's Registrable Notes pursuant to the Shelf
Registration Statement.

          (d) Effective Registration Statement. The Company and the Subsidiary
Guarantors will be deemed not to have used their best efforts to cause a
Registration Statement to become, or to remain, effective during the requisite
periods set forth herein if they voluntarily take any action that would result
in any such Registration Statement not being declared effective or in the
Holders of Registrable Notes covered thereby not being able to exchange or offer
and sell such Registrable Notes during that period unless (A) such action is
required by applicable law or (B) such action is taken by the Company and the
Subsidiary Guarantors in good faith and for valid business reasons (not
including avoidance of the Company and the Subsidiary Guarantors' obligations
hereunder), including a material corporate transaction, so long as the

                                       10

<PAGE>

Company promptly complies with the requirements of Section 3(k) hereof, if
applicable. An Exchange Offer Registration Statement pursuant to Section 2(a)
hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will
not be deemed to have become effective unless it has been declared effective by
the SEC; provided, however, that if, after it has been declared effective, the
offering of Registrable Notes pursuant to a Registration Statement is interfered
with by any stop order, injunction or other order or requirement of the SEC or
any other governmental agency or court, such Registration Statement will be
deemed not to have been effective during the period of such interference, until
the offering of Registrable Notes pursuant to such Registration Statement may
legally resume.

          (e) Increase in Interest Rate. In the event that (i) the Exchange
Offer Registration Statement is not filed with the SEC on or prior to the 195th
calendar day after the Issue Date, (ii) the Exchange Offer Registration
Statement is not declared effective on or prior to the 240th calendar day after
the Issue Date, (iii) the Exchange Offer is not consummated on or prior to the
270th calendar day after the Issue Date or, as the case may be, a Shelf
Registration Statement with respect to the Registrable Notes is not declared
effective on or prior to the 270th day after the Issue Date or (iv) the Exchange
Offer Registration Statement or the Shelf Registration Statement is declared
effective but thereafter ceases to be effective or usable within the applicable
period as provided in this Agreement (each such event referred to in clauses (i)
through (iv) above, a "Registration Default"), the Company shall be required to
pay additional interest in cash on each Interest Payment Date (as defined in the
Indenture) in an amount equal to one-quarter of one percent (0.25%) per annum of
the principal amount of the Notes, with respect to the first 90-day period
following such Registration Default. The amount of such additional interest will
increase by an additional one-quarter of one percent (0.25%) per annum for each
subsequent 90-day period until such Registration Default has been cured, up to a
maximum of one percent (1%) per annum. Upon (w) the filing of the Exchange Offer
Registration Statement after the 195-day period described in clause (i) above,
(x) the effectiveness of the Exchange Offer Registration Statement after the
240-day period described in clause (ii) above, (y) the consummation of the
Exchange Offer or the effectiveness of a Shelf Registration Statement after the
270-day period described in clause (iii) above, or (z) the cure of any
Registration Default described in clause (iv) above, such additional interest
shall cease to accrue on the Notes from the date of such filing, effectiveness,
consummation or cure, as the case may be, if the Company is otherwise in
compliance with this paragraph; provided, however, that if, after any such
additional interest ceases to accrue, a different event specified in clause (i),
(ii), (iii) or (iv) above occurs, such additional interest shall begin to accrue
again pursuant to the foregoing provisions.

          (f) Specific Enforcement. Without limiting the remedies available to
the Initial Purchasers and the Holders, the Company and the Subsidiary
Guarantors acknowledge that any failure by the Company and the Subsidiary
Guarantors to comply with their obligations under Section 2(a) and Section 2(b)
hereof may result in material irreparable injury to the Initial Purchasers or
the Holders for which there is no adequate remedy at law, that it will not be
possible to measure damages for such injuries precisely and that, in the event
of any such failure, the Initial Purchasers or any Holder may obtain such relief
as may be required to specifically enforce the Company's and the Subsidiary
Guarantors' obligations under Section 2(a) and Section 2(b) hereof.

                                       11

<PAGE>

          3. Registration Procedures. In connection with the obligations of the
Company and the Subsidiary Guarantors with respect to the Registration
Statements pursuant to Sections 2(a) and 2(b) hereof, the Company and the
Subsidiary Guarantors shall:

          (a) prepare and file with the SEC a Registration Statement, within the
     time period specified in Section 2, on the appropriate form under the 1933
     Act, which form (i) shall be selected by the Company and the Subsidiary
     Guarantors, (ii) shall, in the case of a Shelf Registration, be available
     for the sale of the Registrable Notes by the selling Holders thereof and
     (iii) shall comply as to form in all material respects with the
     requirements of the applicable form required by the SEC and include or
     incorporate by reference all financial statements required by the SEC to be
     filed therewith, and use their best efforts to cause such Registration
     Statement to become effective and remain effective in accordance with
     Section 2 hereof;

          (b) prepare and file with the SEC such amendments and post-effective
     amendments to each Registration Statement as may be necessary under
     applicable law to keep such Registration Statement effective for the
     applicable period; cause each Prospectus to be supplemented by any required
     prospectus supplement, and as so supplemented to be filed pursuant to Rule
     424 under the 1933 Act; and comply with the provisions of the 1933 Act with
     respect to the disposition of all Notes covered by each Registration
     Statement during the applicable period in accordance with the intended
     method or methods of distribution by the selling Holders thereof;

          (c) in the case of a Shelf Registration, (i) notify each Holder of
     Registrable Notes, at least five days prior to filing, that a Shelf
     Registration Statement with respect to the Registrable Notes is being filed
     and advising such Holders that the distribution of Registrable Notes will
     be made in accordance with the method elected by the Majority Holders of
     Notes that are Registrable Notes; and (ii) furnish to each Holder of
     Registrable Notes, to counsel for the Initial Purchasers, to counsel for
     the Holders and to each underwriter of an underwritten offering of
     Registrable Notes, if any, without charge, as many copies of each
     Prospectus, including each preliminary Prospectus, and any amendment or
     supplement thereto and such other documents as such Holder or underwriter
     may reasonably request, including financial statements and schedules and,
     if the Holder so requests, all exhibits (including those incorporated by
     reference) in order to facilitate the public sale or other disposition of
     the Registrable Notes; and (iii) subject to the last paragraph of this
     Section 3, hereby consent to the use of the Prospectus, including each
     preliminary Prospectus, or any amendment or supplement thereto by each of
     the selling Holders of Registrable Notes in connection with the offering
     and sale of the Registrable Notes covered by the Prospectus or any
     amendment or supplement thereto;

          (d) use its best efforts to register or qualify the Registrable Notes
     under all applicable state securities or "blue sky" laws of such
     jurisdictions as any Holder of Registrable Notes covered by a Registration
     Statement and each underwriter of an underwritten offering of Registrable
     Notes shall reasonably request by the time the applicable Registration
     Statement is declared effective by the SEC, comply with any requirements
     under applicable Canadian securities laws in connection with the private
     placement of Exchange Notes in Canada, cooperate with the Holders in
     connection with

                                       12

<PAGE>

     any filings required to be made with the NASD, keep each such registration
     or qualification effective during the period such Registration Statement is
     required to be effective and do any and all other acts and things which may
     be reasonably necessary or advisable to enable such Holder to consummate
     the disposition in each such jurisdiction of such Registrable Notes owned
     by such Holder; provided, however, that the Company shall not be required
     to (i) qualify as a foreign corporation or as a broker or dealer in
     securities in any jurisdiction where it would not otherwise be required to
     qualify but for this Section 3(d) or (ii) take any action which would
     subject it to general service of process or taxation in any such
     jurisdiction if it is not then so subject;

          (e) in the case of a Shelf Registration, notify each Holder of
     Registrable Notes and counsel for such Holders promptly and, if requested
     by such Holder or counsel, confirm such advice in writing promptly (i) when
     a Shelf Registration Statement has become effective and when any
     post-effective amendments and supplements thereto become effective, (ii) of
     any request by the SEC or any state securities authority for post-effective
     amendments and supplements to a Shelf Registration Statement and Prospectus
     or for additional information after the Shelf Registration Statement has
     become effective, (iii) of the issuance by the SEC or any state securities
     authority of any stop order suspending the effectiveness of a Registration
     Statement or the initiation of any proceedings for that purpose, (iv) if,
     between the effective date of a Registration Statement and the closing of
     any sale of Registrable Notes covered thereby, the representations and
     warranties of the Company or any Subsidiary Guarantor contained in any
     underwriting agreement, securities sales agreement or other similar
     agreement, if any, relating to such offering cease to be true and correct
     in all material respects, (v) of the receipt by the Company of any
     notification with respect to the suspension of the qualification of the
     Registrable Notes for sale in any jurisdiction or the initiation or
     threatening of any proceeding for such purpose, (vi) of the happening of
     any event or the discovery of any facts during the period a Shelf
     Registration Statement is effective which makes any statement made in such
     Shelf Registration Statement or the related Prospectus untrue in any
     material respect or which requires the making of any changes in such Shelf
     Registration Statement or Prospectus in order to make the statements
     therein not misleading and (vii) of any determination by the Company that a
     post-effective amendment to a Registration Statement would be appropriate;

          (f) (A) in the case of the Exchange Offer, (i) include in the Exchange
     Offer Registration Statement a "Plan of Distribution" section covering the
     use of the Prospectus included in the Exchange Offer Registration Statement
     by broker-dealers who have exchanged their Registrable Notes for Exchange
     Notes for the resale of such Exchange Notes, (ii) furnish to each
     broker-dealer who desires to participate in the Exchange Offer, without
     charge, as many copies of each Prospectus included in the Exchange Offer
     Registration Statement, including any preliminary prospectus, and any
     amendment or supplement thereto, as such broker-dealer may reasonably
     request, (iii) include in the Exchange Offer Registration Statement a
     statement that any broker-dealer which holds Registrable Notes acquired for
     its own account as a result of market-making activities or other trading
     activities (a "Participating Broker-Dealer"), and who receives Exchange
     Notes for Registrable Notes pursuant to the Exchange Offer, may be a
     statutory underwriter and must deliver a Prospectus meeting the
     requirements of the 1933 Act in

                                       13

<PAGE>

     connection with any resale of such Exchange Notes, (iv) subject to the last
     paragraph of this Section 3, hereby consent to the use of the Prospectus
     forming part of the Exchange Offer Registration Statement or any amendment
     or supplement thereto, by any broker-dealer in connection with the sale or
     transfer of the Exchange Notes covered by the Prospectus or any amendment
     or supplement thereto and (v) include in the transmittal letter or similar
     documentation to be executed by an exchange offeree in order to participate
     in the Exchange Offer (x) the following provision:

          "If the undersigned is not a broker-dealer, the undersigned represents
          that it is not engaged in, and does not intend to engage in, a
          distribution of Exchange Notes. If the undersigned is a broker-dealer
          that will receive Exchange Notes for its own account in exchange for
          Registrable Notes, it represents that the Registrable Notes to be
          exchanged for Exchange Notes were acquired by it as a result of
          market-making activities or other trading activities and acknowledges
          that it will deliver a prospectus meeting the requirements of the 1933
          Act in connection with any resale of such Exchange Notes pursuant to
          the Exchange Offer; however, by so acknowledging and by delivering a
          prospectus, the undersigned will not be deemed to admit that it is an
          "underwriter" within the meaning of the 1933 Act.";

     and (y) a statement to the effect that by a broker-dealer making the
     acknowledgment described in subclause (x) and by delivering a Prospectus in
     connection with the exchange of Registrable Notes, the broker-dealer will
     not be deemed to admit that it is an underwriter within the meaning of the
     1933 Act; and

          (B) to the extent any Participating Broker-Dealer participates in the
     Exchange Offer, the Company and the Subsidiary Guarantors shall use their
     reasonable best efforts to cause to be delivered at the request of an
     entity representing the Participating Broker-Dealers (which entity shall be
     one of the Initial Purchasers, unless it elects not to act as such
     representative) only one, if any, "cold comfort" letter with respect to the
     Prospectus in the form existing on the last date for which exchanges are
     accepted pursuant to the Exchange Offer and with respect to each subsequent
     amendment or supplement, if any, effected during the period specified in
     clause (C) below; and

          (C) to the extent any Participating Broker-Dealer participates in the
     Exchange Offer, the Company and the Subsidiary Guarantors shall use their
     best efforts to maintain the effectiveness of the Exchange Offer
     Registration Statement for a period of 180 days following the closing of
     the Exchange Offer; and

          (D) the Company and the Subsidiary Guarantors shall not be required to
     amend or supplement the Prospectus contained in the Exchange Offer
     Registration Statement as would otherwise be contemplated by Section 3(b)
     hereof, or take any other action as a result of this Section 3(f), for a
     period exceeding 180 days after the last date for which exchanges are
     accepted pursuant to the Exchange Offer (as such period may be extended by
     the Company) and Participating Broker-Dealers shall not be authorized by

                                       14

<PAGE>

     the Company to, and shall not, deliver such Prospectus after such period in
     connection with resales contemplated by this Section 3;

          (g) (A) in the case of an Exchange Offer or Shelf Registration
     Statement, furnish counsel for the Initial Purchasers and (B) in the case
     of a Shelf Registration, furnish counsel for the Holders of Registrable
     Notes copies of any request by the SEC or any state securities authority
     for amendments or supplements to a Registration Statement and Prospectus or
     for additional information;

          (h) use their reasonable best efforts to obtain the withdrawal of any
     order suspending the effectiveness of a Registration Statement at the
     earliest possible moment and provide immediate notice to each Holder of the
     withdrawal of any such order;

          (i) in the case of a Shelf Registration, furnish to each Holder of
     Registrable Notes, and each underwriter, if any, without charge, at least
     one conformed copy of each Registration Statement and any post-effective
     amendment thereto (without documents incorporated therein by reference or
     exhibits thereto, unless requested);

          (j) in the case of a Shelf Registration, cooperate with the selling
     Holders of Registrable Notes to facilitate the timely preparation and
     delivery of certificates representing Registrable Notes to be sold and not
     bearing any restrictive legends other than the Canadian Legend, as may be
     required under applicable Canadian securities laws; and cause such
     Registrable Notes to be in such denominations (consistent with the
     provisions of the Indenture) in a form eligible for deposit with the Common
     Depositary and registered in such names as the selling Holders or the
     underwriters, if any, may reasonably request at least one business day
     prior to the closing of any sale of Registrable Notes;

          (k) in the case of a Shelf Registration, promptly upon the occurrence
     of any event or the discovery of any facts, each as contemplated by Section
     3(e)(vi) hereof, use their best efforts to prepare a supplement or
     post-effective amendment to a Registration Statement or the related
     Prospectus or any document incorporated therein by reference or file any
     other required document so that, as thereafter delivered to the purchasers
     of the Registrable Notes, such Prospectus will not contain at the time of
     such delivery any untrue statement of a material fact or omit to state a
     material fact necessary to make the statements therein, in light of the
     circumstances under which they were made, not misleading. The Company
     agrees to notify each Holder to suspend use of the Prospectus as promptly
     as practicable after the occurrence of such an event, and each Holder
     hereby agrees to suspend use of the Prospectus until the Company has
     amended or supplemented the Prospectus to correct such misstatement or
     omission. At such time as such public disclosure is otherwise made or the
     Company determines that such disclosure is not necessary, in each case to
     correct any misstatement of a material fact or to include any omitted
     material fact, the Company agrees promptly to notify each Holder of such
     determination and to furnish each Holder such numbers of copies of the
     Prospectus, as amended or supplemented, as such Holder may reasonably
     request;

                                       15

<PAGE>

          (l) obtain ISIN numbers for all Exchange Notes, or Registrable Notes,
     as the case may be, not later than the effective date of a Registration
     Statement, and provide the Trustee with printed certificates for the
     Exchange Notes or the Registrable Notes, as the case may be, in a form
     eligible for deposit with the Depositary;

          (m) (i) cause the Indenture to be qualified under the Trust Indenture
     Act of 1939, as amended (the "TIA"), in connection with the registration of
     the Exchange Notes, or Registrable Notes, as the case may be, (ii)
     cooperate with the Trustee and the Holders to effect such changes to the
     Indenture as may be required for the Indenture to be so qualified in
     accordance with the terms of the TIA and (iii) execute, and use their
     reasonable best efforts to cause the Trustee to execute, all documents as
     may be required to effect such changes, and all other forms and documents
     required to be filed with the SEC to enable the Indenture to be so
     qualified in a timely manner;

          (n) in the case of a Shelf Registration, enter into agreements
     (including underwriting agreements) and take all other customary and
     appropriate actions (including those reasonably requested by the Majority
     Holders of Registrable Notes) in order to expedite or facilitate the
     disposition of such Registrable Notes and in such connection whether or not
     an underwriting agreement is entered into and whether or not the
     registration is an underwritten registration:

               (i) make such representations and warranties to the Holders of
          such Registrable Notes and the underwriters, if any, in form,
          substance and scope as are customarily made by issuers to underwriters
          in similar underwritten offerings as may be reasonably requested by
          them;

               (ii) obtain opinions of counsel to the Company and its
          subsidiaries and updates thereof (which counsel and opinions (in form,
          scope and substance) shall be reasonably satisfactory to the managing
          underwriters, if any, and the Holders of a majority in principal
          amount of the Registrable Notes being sold) addressed to each selling
          Holder and the underwriters, if any, covering the matters customarily
          covered in opinions requested in sales of securities or underwritten
          offerings and such other matters as may be reasonably requested by
          such Holders and underwriters;

               (iii) obtain "cold comfort" letters and updates thereof from the
          Company's and the Subsidiary Guarantors' independent certified public
          accountants addressed to the underwriters, if any, and use best
          efforts to have such letters addressed to the selling Holders of
          Registrable Notes, such letters to be in customary form and covering
          matters of the type customarily covered in "cold comfort" letters to
          underwriters in connection with similar underwritten offerings;

               (iv) enter into a securities sales agreement with the Holders and
          an agent of the Holders providing for, among other things, the
          appointment of such agent for the selling Holders for the purpose of
          soliciting purchases of Registrable Notes, which agreement shall be in
          form, substance and scope customary for similar offerings;

                                       16

<PAGE>

               (v) if an underwriting agreement is entered into, cause the same
          to set forth indemnification provisions and procedures substantially
          equivalent to the indemnification provisions and procedures set forth
          in Section 5 hereof with respect to the underwriters and all other
          parties to be indemnified pursuant to said Section; and

               (vi) deliver such documents and certificates as may be reasonably
          requested and as are customarily delivered in similar offerings.

     The above shall be done at (i) the effectiveness of such Registration
     Statement (and, if appropriate, each post-effective amendment thereto) and
     (ii) each closing under any underwriting or similar agreement as and to the
     extent required thereunder. In the case of any underwritten offering, the
     Company shall provide written notice to the Holders of all Registrable
     Notes of such underwritten offering at least 30 days prior to the filing of
     a prospectus supplement for such underwritten offering. Such notice shall
     (x) offer each such Holder the right to participate in such underwritten
     offering, (y) specify a date, which shall be no earlier than 10 calendar
     days following the date of such notice, by which such Holder must inform
     the Company of its intent to participate in such underwritten offering and
     (z) include the instructions such Holder must follow in order to
     participate in such underwritten offering;

          (o) in the case of a Shelf Registration, make available for inspection
     by representatives of the Holders of the Registrable Notes and any
     underwriters participating in any disposition pursuant to a Shelf
     Registration Statement and any counsel or accountant retained by such
     Holders or underwriters (collectively, the "Inspectors"), all financial and
     other records, pertinent corporate documents and properties of the Company
     and the Subsidiary Guarantors reasonably requested by any such persons, and
     cause the respective officers, directors, employees, and any other agents
     of the Company and the Subsidiary Guarantors to supply all information
     reasonably requested by any such representative, underwriter, counsel or
     accountant in connection with such Registration Statement. Any such records
     or information that the Company or the Subsidiary Guarantors determines, in
     good faith, to be confidential shall not be disclosed by the Inspectors to
     any other Person unless (i) such disclosure is necessary to avoid or
     correct a material misstatement or omission in a Shelf Registration
     Statement, (ii) such disclosure is necessary in connection with the
     Inspectors' assertion of any claims or actions or with their establishment
     of any defense in an action then pending before a court of competent
     jurisdiction, (iii) such disclosure is ordered pursuant to a subpoena or
     other order from a court of competent jurisdiction or (iv) the information
     in such records or information has been made generally available to the
     public;

          (p) (i) a reasonable time prior to the filing of any Exchange Offer
     Registration Statement, any Prospectus forming a part thereof, any
     amendment to an Exchange Offer Registration Statement or amendment or
     supplement to a Prospectus, provide copies of such document to the Initial
     Purchasers, and make such changes in any such document prior to the filing
     thereof as any of the Initial Purchasers or their counsel may reasonably
     request; (ii) in the case of a Shelf Registration, a reasonable time prior
     to filing any Shelf Registration Statement, any Prospectus forming a part
     thereof, any amendment to such

                                       17

<PAGE>

     Shelf Registration Statement or amendment or supplement to such Prospectus,
     provide copies of such document to the Holders of Registrable Notes, to the
     Initial Purchasers, to counsel on behalf of the Holders and to the
     underwriter or underwriters of an underwritten offering of Registrable
     Notes, if any, and make such changes in any such document prior to the
     filing thereof as the Holders of Registrable Notes, the Initial Purchasers
     on behalf of such Holders, their counsel and any underwriter may reasonably
     request; and (iii) cause the representatives of the Company and its
     subsidiaries to be available for discussion of such document as shall be
     reasonably requested by the Holders of Registrable Notes, the Initial
     Purchasers on behalf of such Holders or any underwriter and shall not at
     any time make any filing of any such document of which such Holders, the
     Initial Purchasers on behalf of such Holders, their counsel or any
     underwriter shall not have previously been advised and furnished a copy or
     to which such Holders, the Initial Purchasers on behalf of such Holders,
     their counsel or any underwriter shall reasonably object;

          (q) in the case of a Shelf Registration, use their best efforts to
     cause all Registrable Notes to be listed on any securities exchange on
     which similar debt securities issued by the Company are then listed if
     requested by the Majority Holders of Registrable Notes or by the
     underwriter or underwriters of an underwritten offering of such Registrable
     Notes, if any;

          (r) in the case of a Shelf Registration, use their best efforts to
     cause the Registrable Notes to be rated with the appropriate rating
     agencies, if so requested by the Majority Holders of Registrable Notes or
     by the underwriter or underwriters of an underwritten offering of
     Registrable Notes, if any, unless the Registrable Notes are already so
     rated;

          (s) otherwise use their best efforts to comply with all applicable
     rules and regulations of the SEC and make available to its security
     holders, as soon as reasonably practicable, an earnings statement covering
     at least 12 months which shall satisfy the provisions of Section 11(a) of
     the 1933 Act and Rule 158 thereunder; and

          (t) cooperate and assist in any filings required to be made with the
     NASD and in the performance of any due diligence investigation by any
     underwriter and its counsel (including, any "qualified independent
     underwriter" that is required to be retained in accordance with the rules
     and regulations of the NASD).

          In the case of a Shelf Registration Statement, the Company may (as a
condition to such Holder's participation in the Shelf Registration) require each
Holder of Registrable Notes to furnish to the Company such information regarding
such Holder and the proposed distribution by such Holder of such Registrable
Notes as the Company may from time to time reasonably request in writing.

          In the case of a Shelf Registration Statement, each Holder agrees
that, upon receipt of any notice from the Company of the happening of any event
or the discovery of any facts, each of the kind described in Section
3(e)(ii)-(vii) hereof, such Holder will forthwith discontinue disposition of
Registrable Notes pursuant to a Registration Statement until such

                                       18

<PAGE>

Holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(k) hereof, and, if so directed by the Company, such
Holder will deliver to the Company (at its expense) all copies in its
possession, other than permanent file copies then in such Holder's possession,
of the Prospectus covering such Registrable Notes current at the time of receipt
of such notice. If the Company shall give any such notice to suspend the
disposition of Registrable Notes pursuant to a Shelf Registration Statement as a
result of the happening of any event or the discovery of any facts, each of the
kind described in Section 3(e)(vi) hereof, the Company and the Subsidiary
Guarantors shall be deemed to have used their best efforts to keep the Shelf
Registration Statement effective during such period of suspension provided that
the Company and the Subsidiary Guarantors shall use their best efforts to file
and have declared effective (if an amendment) as soon as practicable an
amendment or supplement to the Shelf Registration Statement and shall extend the
period during which the Registration Statement shall be maintained effective
pursuant to this Agreement by the number of days during the period from and
including the date of the giving of such notice to and including the date when
the Holders shall have received copies of the supplemented or amended Prospectus
necessary to resume such dispositions.

          4. Underwritten Registrations. If any of the Registrable Notes covered
by any Shelf Registration are to be sold in an underwritten offering, the
investment banker or investment bankers and manager or managers that will manage
the offering will be selected by the Majority Holders of such Registrable Notes
included in such offering and shall be reasonably acceptable to the Company.

          No Holder of Registrable Notes may participate in any underwritten
registration hereunder unless such Holder (a) agrees to sell such Holder's
Registrable Notes on the basis provided in any underwriting arrangements
approved by the Persons entitled hereunder to approve such arrangements and (b)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents required under the terms of such
underwriting arrangements.

          5. Indemnification and Contribution.

          (a) The Company shall indemnify and hold harmless each Initial
Purchaser, each Holder, including Participating Broker-Dealers, each underwriter
who participates in an offering of Registrable Notes, their respective
Affiliates, and the respective directors, officers, employees, agents and each
Person, if any, who controls any of such parties within the meaning of Section
15 of the 1933 Act or Section 20 of the 1934 Act as follows:

               (i) against any and all loss, liability, claim, damage and
          expense whatsoever, as incurred, arising out of any untrue statement
          or alleged untrue statement of a material fact contained in any
          Registration Statement (or any amendment thereto) pursuant to which
          Exchange Notes or Registrable Notes were registered under the 1933
          Act, including all documents incorporated therein by reference, or the
          omission or alleged omission therefrom of a material fact required to
          be stated therein or necessary to make the statements therein not
          misleading or arising out of any untrue statement or alleged untrue
          statement of a material fact contained in any Prospectus (or any
          amendment or supplement

                                       19

<PAGE>

          thereto) or the omission or alleged omission therefrom of a material
          fact necessary in order to make the statements therein, in the light
          of the circumstances under which they were made, not misleading;

               (ii) against any and all loss, liability, claim, damage and
          expense whatsoever, as incurred, to the extent of the aggregate amount
          paid in settlement of any litigation, or any investigation or
          proceeding by any governmental agency or body, commenced or
          threatened, or of any claim whatsoever based upon any such untrue
          statement or omission, or any such alleged untrue statement or
          omission; provided that (subject to Section 5(d) below) any such
          settlement is effected with the written consent of the Company; and

               (iii) against any and all expense whatsoever, as incurred
          (including the reasonable fees and disbursements of one counsel chosen
          by any indemnified party), reasonably incurred in investigating,
          preparing or defending against any litigation, or investigation or
          proceeding by any court or governmental agency or body, commenced or
          threatened in connection with, or any claim whatsoever based upon, any
          such untrue statement or omission, or any such alleged untrue
          statement or omission, to the extent that any such expense is not paid
          under subparagraph (i) or (ii) of this Section 5(a);

provided, however, that this indemnity does not apply to any loss, liability,
claim, damage or expense to the extent arising out of an untrue statement or
omission or alleged untrue statement or omission made in reliance upon and in
conformity with written information (i) furnished to the Company by the Initial
Purchasers, any Holder, including Participating Broker-Dealers, or any
underwriter expressly for use in the Registration Statement (or any amendment
thereto) or the Prospectus (or any amendment or supplement thereto) or (ii)
contained in any preliminary prospectus if the Initial Purchaser, such Holder,
such Participating Broker-Dealer or such underwriter failed to send or deliver a
copy of the final Prospectus (in the form it was first provided to such parties
for confirmation of sales or as amended or supplemented pursuant to Section 3(i)
prior to confirmation of sales) to the Person asserting such losses, claims,
damages or liabilities on or prior to the delivery of written confirmation of
any sale of securities covered thereby to such Person in any case where such
delivery is required by the Securities Act and the Company and the Subsidiary
Guarantors shall have previously furnished copies thereof to such Initial
Purchaser, such Holder, such Participating Broker-Dealer or such underwriter, as
the case may be, in accordance with this Agreement, at or prior to the written
confirmation of the sale of such Securities to such Person and the untrue
statement contained in or the omission from the preliminary Prospectus or the
final Prospectus was corrected in the final Prospectus (in the form it was first
provided to such parties for confirmation of sales or as amended or supplemented
pursuant to Section 3(i) prior to such confirmation of sales).

          (b) Each Holder agrees, severally and not jointly, to indemnify and
hold harmless the Company, the Subsidiary Guarantors, each Initial Purchaser,
each underwriter who participates in an offering of Registrable Notes and the
other selling Holders and each of their respective directors and officers
(including each officer of the Company and the Subsidiary Guarantors who signed
the Registration Statement) and each Person, if any, who controls the Company,
any Subsidiary Guarantor, any Initial Purchaser, any underwriter or any other
selling

                                       20

<PAGE>

Holder within the meaning of Section 15 of the 1933 Act or Section 20 of the
1934 Act, against any and all loss, liability, claim, damage and expense
whatsoever described in the indemnity contained in Section 5(a) hereof, as
incurred, but only with respect to untrue statements or omissions, or alleged
untrue statements or omissions, made in the Registration Statement (or any
amendment thereto) or the Prospectus (or any amendment or supplement thereto) in
reliance upon and in conformity with written information furnished to the
Company and the Subsidiary Guarantors by or on behalf of such Holder, as the
case may be, expressly for use in the Registration Statement (or any amendment
thereto), or the Prospectus (or any amendment or supplement thereto); provided
however that, in case of a Shelf Registration Statement, no such Holder shall be
liable for any claims hereunder in excess of the amount of net proceeds received
by such Holder from the sale of Registrable Notes pursuant to such Shelf
Registration Statement.

          (c) In case any action shall be commenced involving any person in
respect of which indemnity may be sought pursuant to either paragraph (a) or
paragraph (b) above, such person (the "indemnified party") shall give notice as
promptly as reasonably practicable to each person against whom such indemnity
may be sought (the "indemnifying party"), but failure to so notify an
indemnifying party shall not relieve such indemnifying party from any liability
hereunder to the extent it is not materially prejudiced as a result thereof and
in any event shall not relieve it from any liability which it may have otherwise
than on account of this indemnity agreement. An indemnifying party may
participate at its own expense in the defense of any such action; provided,
however, that counsel to the indemnifying party shall not (except with the
consent of the indemnified party) also be counsel to the indemnified party. In
no event shall the indemnifying parties be liable for fees and expenses of more
than one counsel, in addition to any local counsel, separate from their own
counsel for all indemnified parties in connection with any one action or
separate but similar or related actions in the same jurisdiction arising out of
the same general allegations or circumstances. No indemnifying party shall,
without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 5 hereof
(whether or not the indemnified parties are actual or potential parties
thereof), unless such settlement, compromise or consent (i) includes an
unconditional release of each indemnified party from all liability arising out
of such litigation, investigation, proceeding or claim and (ii) does not include
a statement as to or an admission of fault, culpability or a failure to act by
or on behalf of any indemnified party.

          (d) If at any time an indemnified party shall have requested an
indemnifying party to reimburse the indemnified party for reasonable fees and
expenses of counsel for which they are entitled to indemnification hereunder,
such indemnifying party agrees that it shall be liable for any settlement of the
nature contemplated by Section 5(a)(ii) hereof effected without its written
consent if (i) such settlement is entered into more than 45 days after receipt
by such indemnifying party of the aforesaid request, (ii) such indemnifying
party shall have received notice of the terms of such settlement at least 30
days prior to such settlement being entered into and (iii) such indemnifying
party shall not have reimbursed such indemnified party for such fees and
expenses of counsel in accordance with such request prior to the date of such
settlement.

                                       21

<PAGE>

          (e) If the indemnification provided for in any of the indemnity
provisions set forth in this Section 5 is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses,
liabilities, claims, damages or expenses referred to therein, then each
indemnifying party shall contribute to the aggregate amount of such losses,
liabilities, claims, damages and expenses incurred by such indemnified party, as
incurred, in such proportion as is appropriate to reflect the relative fault of
such indemnifying party or parties on the one hand, and such indemnified party
or parties on the other hand, in connection with the statements or omissions
which resulted in such losses, liabilities, claims, damages or expenses, as well
as any other relevant equitable considerations. The relative fault of such
indemnifying party or parties on the one hand, and such indemnified party or
parties on the other hand shall be determined by reference to, among other
things, whether any such untrue or alleged untrue statement of a material fact
or omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or parties or such indemnified party or
parties, and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The Company, the
Subsidiary Guarantors and the Initial Purchasers and the Holders of the
Registrable Notes agree that it would not be just and equitable if contribution
pursuant to this Section 5 were determined by pro rata allocation (even if the
Holders were treated as one entity, and the Initial Purchasers were treated as
one entity, for such purpose) or by another method of allocation which does not
take account of the equitable considerations referred to above in Section 5. The
aggregate amount of losses, liabilities, claims, damages and expenses incurred
by an indemnified party and referred to above in this Section 5 shall be deemed
to include any reasonable legal or other expenses reasonably incurred by such
indemnified party in investigating, preparing or defending against any
litigation, or any investigation or proceeding by an governmental agency or
body, commenced or threatened, or any claim whatsoever based upon any such
untrue or alleged untrue statement or omission or alleged omission. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. For purposes of this Section 5,
each person, if any, who controls an Initial Purchaser or a Holder within the
meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have
the same rights to contribution as such Initial Purchaser or Holder, and each
director of the Company or any Subsidiary Guarantor, each officer of the Company
who signed the Registration Statement, and each Person, if any, who controls the
Company or any Subsidiary Guarantor within the meaning of Section 15 of the 1933
Act or Section 20 of the 1934 Act shall have the same rights to contribution as
the Company and such Subsidiary Guarantor.

          6. Miscellaneous.

          (a) Rule 144 and Rule 144A. For so long as the Company is subject to
the reporting requirements of Section 13 or 15 of the 1934 Act, the Company
covenants that it will file the reports required to be filed by it under the
1933 Act and Section 13(a) or 15(d) of the 1934 Act and the rules and
regulations adopted by the SEC thereunder, that if it ceases to be so required
to file such reports, it will upon the request of any Holder of Registrable
Notes (i) make publicly available such information as is necessary to permit
sales pursuant to Rule 144 under the 1933 Act, (ii) deliver such information to
a prospective purchaser as is necessary to permit sales pursuant to Rule 144A
under the 1933 Act and it will take such further action as any Holder of
Registrable Notes may reasonably request, and (iii) take such further action
that is reasonable

                                       22

<PAGE>

in the circumstances, in each case, to the extent required from time to time to
enable such Holder to sell its Registrable Notes without registration under the
1933 Act within the limitation of the exemptions provided by (x) Rule 144 under
the 1933 Act, as such Rule may be amended from time to time, (y) Rule 144A under
the 1933 Act, as such Rule may be amended from time to time, or (z) any similar
rules or regulations hereafter adopted by the SEC. Upon the written request of
any Holder of Registrable Notes, the Company will deliver to such Holder a
written statement as to whether it has complied with such requirements.

          (b) No Inconsistent Agreements. Neither the Company nor the Subsidiary
Guarantors have entered into, and neither the Company nor the Subsidiary
Guarantors on or after the date of this Agreement will enter into, any agreement
which is inconsistent with the rights granted to the Holders of Registrable
Notes in this Agreement or otherwise conflicts with the provisions hereof. The
rights granted to the Holders hereunder do not in any way conflict with and are
not inconsistent with the rights granted to the holders of the Company's other
issued and outstanding securities under any such agreements.

          (c) Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given unless the Company and the Subsidiary Guarantors have obtained
the written consent of Holders of at least a majority in aggregate principal
amount of the outstanding Registrable Notes affected by such amendment,
modification, supplement, waiver or departure; provided, however, that no
amendment, modification, supplement or waiver or consent to any departure from
the provisions of Section 5 hereof shall be effective as against any Holder of
Registrable Notes unless consented to in writing by such Holder.

          (d) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight
delivery (i) if to a Holder (other than an Initial Purchaser), at the most
current address set forth on the records of the Registrar under the Indenture,
(ii) if to an Initial Purchaser, at the most current address given by such
Initial Purchaser to the Company by means of a notice given in accordance with
the provisions of this Section 6(d), which address initially is the address set
forth in the Purchase Agreement, and (iii) if to the Company or the Subsidiary
Guarantors, initially at the Company's address set forth in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(d).

          All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in the mail, postage prepaid, if mailed; and when
receipt is acknowledged, by recipient's telecopy operator, if telecopied; and on
the next business day if delivered to a courier guaranteeing overnight delivery.

          Copies of all such notices, demands, or other communications shall be
concurrently delivered by the Person giving the same to the Trustee, at the
address specified in the Indenture.

                                       23

<PAGE>

          (e) Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Notes in
violation of the terms hereof or of the Purchase Agreement or the Indenture. If
any transferee of any Holder shall acquire Registrable Notes, in any manner,
whether by operation of law or otherwise, such Registrable Notes shall be held
subject to all of the terms of this Agreement, and by taking and holding such
Registrable Notes, such Person shall be conclusively deemed to have agreed to be
bound by and to perform all of the terms and provisions of this Agreement,
including the restrictions on resale set forth in this Agreement and, if
applicable, the Purchase Agreement, and such Person shall be entitled to receive
the benefits hereof.

          (f) Third Party Beneficiary. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company and the
Subsidiary Guarantors, on the one hand, and the Initial Purchasers, on the other
hand, and shall have the right to enforce such agreements directly to the extent
they deem such enforcement necessary or advisable to protect their rights.

          (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

          (i) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA.

          (j) Appointment of Agent For Service. The Company and each of the
Subsidiary Guarantors have designated CT Corporation System as their authorized
agent upon which process may be served in any legal action or proceeding,
including with respect to any state or federal securities laws, that may be
instituted in any federal court of the United States or the court of any state
thereof and arising out of or relating to this Agreement. Service of process
upon such agent as 111 Eighth Avenue, New York, NY 10011 or to the Subsidiary
Guarantors listed on Schedule D to the Purchase Agreement at the address listed
thereon, shall be deemed in every respect effective service of process upon the
Company and any Subsidiary Guarantor, as applicable, in any such legal action or
proceeding. The Company and each of the Subsidiary Guarantors hereby submit to
the nonexclusive jurisdiction of any such court in which any such legal action
or proceeding is so instituted and waive, to the extent they may effectively do
so, any objection they may have now or hereafter to the laying of the venue of
any such legal action or proceeding. The Company and the Subsidiary Guarantors
shall maintain such appointment so long as the Initial Purchasers or the Holders
shall have any rights pursuant to the terms of this Agreement. The Company and
the Subsidiary Guarantors agree to take any and all action,

                                       24

<PAGE>

including the execution and filing of any and all such documents and
instruments, as may be necessary to continue such designation and appointment of
such agent.

          (k) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

                                       25

<PAGE>

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                      CHC HELICOPTER CORPORATION

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and Chief
                                             Financial Officer

                                      CHC HELICOPTER HOLDINGS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and Chief
                                             Financial Officer

                                      CHC HELICOPTERS INTERNATIONAL INC.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Senior Vice President and Chief
                                             Financial Officer

                                      VIKING HELICOPTERS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Vice President

                                      CANADIAN HELICOPTERS (U.K.) LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

<PAGE>

                                      CHC SCOTIA LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director & Attorney Duly Appointed

                                      HELIWORLD LEASING, LTD

                                      By: /s/ Blake Fizzard
                                          --------------------------------------
                                      Name: Blake Fizzard
                                      Title: Director

                                      BRINTEL HOLDINGS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      BRINTEL HELICOPTERS LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      FLIGHT HANDLING LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      BOND HELICOPTER SERVICES LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director & Attorney Duly Appointed

<PAGE>

                                      NORTH DENES AERODROME LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      COURT AIR (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      COURT HELICOPTER SERVICES
                                         (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      COURT FLIGHT SAFETY (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      CHC HELICOPTERS (AFRICA)
                                         (PROPRIETARY) LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      LLOYD HELICOPTER SERVICES LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

<PAGE>

                                      MANAGEMENT AVIATION LIMITED

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Attorney Duly Appointed

                                      LLOYD HELICOPTER SERVICES PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD OFFSHORE HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      LLOYD BASS STRAIT HELICOPTERS PTY. LTD.

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

<PAGE>

                                      LLOYD HELICOPTERS INTERNATIONAL PTY. LTD.,
                                         in its sole capacity and as trustee for
                                         THE AUSTRALIAN HELICOPTERS TRUST

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Director

                                      CHC HELICOPTERS (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

                                      CHC LEASING (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

                                      CHC CAPITAL (BARBADOS) LIMITED

                                      By: /s/ Jim Misener
                                          --------------------------------------
                                      Name: Jim Misener
                                      Title: President

                                      CHC IRELAND LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director

<PAGE>

                                      CHC SWEDEN AB

                                      By: /s/ Jo Mark Zurel
                                          --------------------------------------
                                      Name: Jo Mark Zurel
                                      Title: Authorized Signatory

                                      CHC NETHERLANDS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER LUCHTVAART GROEP BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      CAPITAL AVIATION SERVICES BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      HANDELSMAATSCHAPPIJ SCHREINER & CO. BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      LUCHTVAARTMAATSCHAPPIJ SCHREINER
                                         AIRWAYS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

<PAGE>

                                      SCHREINER NORTHSEA HELICOPTERS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER COMPONENTS BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      MULTIFABS SURVIVAL LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER ONROEREND GOED BV

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      AVIATION PERSONNEL RECRUITMENT AND
                                         MANAGEMENT (APRAM) LIMITED

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

                                      SCHREINER TCHAD SA

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Attorney

<PAGE>

                                      4083423 CANADA INC.

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: President

                                      WHIRLY BIRD SERVICES LIMITED

                                      By: /s/ Neil Calvert
                                          --------------------------------------
                                      Name: Neil Calvert
                                      Title: Director

                                      CHC HELICOPTERS (MAURITIUS) LTD.

                                      By: /s/ Sylvain Allard
                                          --------------------------------------
                                      Name: Sylvain Allard
                                      Title: Director

<PAGE>

                                      HELIWORLD LEASING LTD.

                                      By: /s/ Neil Calvert
                                          --------------------------------------
                                      Name: Neil Calvert
                                      Title: Director

                                      WHIRLY BIRD SERVICES LIMITED

                                      By: /s/ Lars Landsnes
                                          --------------------------------------
                                      Name: Lars Landsnes
                                      Title: Director

<PAGE>

CONFIRMED AND ACCEPTED,
as of the date first above written:

MERRILL LYNCH & CO.
MERRILL LYNCH, PIERCE, FENNER &
   SMITH INCORPORATED

MERRILL LYNCH, PIERCE, FENNER &
   SMITH INCORPORATED

By:   (signed)
    -------------------------------
Name:
      -----------------------------
Title:
      -----------------------------

J.P. MORGAN SECURITIES INC.

By:   (signed)
    -------------------------------
    Authorized Signatory

SCOTIA CAPITAL (USA) INC.

By: /s/ Frank Pinon
    -------------------------------
    Authorized Signatory
    Frank Pinon
    Managing Director
    Head of U.S. Fixed Income

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