Document:

exhibit42emergentbiosolu

Exhibit 4.2    Activ eUS  168294857v.3   EMERGENT BIOSOLUTIONS INC.  and  _______________  Trustee  INDENTURE  Dated as of _______________  SENIOR DEBT SECURITIES  

 

  Activ eUS  168294857v.3   CROSS-REFERENCE TABLE1  Section of   Trust Indenture Act   of 1939, as amended   Section of   Indenture  310(a) ...............................................................................................................  6.09  310(b) ...............................................................................................................  6.08   6.10  310(c) ...............................................................................................................  Inapplicable  311(a) ...............................................................................................................  6.13  311(b) ...............................................................................................................  6.13  311(c) ...............................................................................................................  Inapplicable  312(a) ...............................................................................................................  4.01  4.04  312(b) ...............................................................................................................  4.04(c)  312(c) ...............................................................................................................  4.04(c)  313(a) ...............................................................................................................  4.03  313(b) ...............................................................................................................  4.03  313(c) ...............................................................................................................  4.03  313(d) ...............................................................................................................  4.03  314(a) ...............................................................................................................  4.02  314(b) ...............................................................................................................  Inapplicable  314(c) ...............................................................................................................  2.04  8.04  9.01(c)  10.01(b)  11.05  314(d) ...............................................................................................................  Inapplicable  314(e) ...............................................................................................................  11.05  314(f) ................................................................................................................  Inapplicable  315(a) ...............................................................................................................  6.01  6.02  315(b) ...............................................................................................................  5.11  315(c) ...............................................................................................................  6.01  315(d) ...............................................................................................................  6.01   6.02  315(e) ...............................................................................................................  5.12  316(a) ...............................................................................................................  5.09  5.10   7.04  316(b) ...............................................................................................................  5.06  5.10  316(c) ...............................................................................................................  7.02  317(a) ...............................................................................................................  5.04  317(b) ...............................................................................................................  3.04  318(a) ...............................................................................................................  11.07    1 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the  interpretation of any of its terms or provisions.  

 

  i   ActiveUS 168294857v.3  TABLE OF CONTENTS  PAGE  ARTICLE 1 DEFINITIONS .........................................................................................................1  Section 1.01 Certain Terms Defined .................................................................................1  ARTICLE 2 SECURITIES ...........................................................................................................7  Section 2.01 Forms Generally...........................................................................................7  Section 2.02 Form of Trustee’s Certificate of Authentication ..........................................7  Section 2.03 Amount Unlimited; Issuable in Series .........................................................7  Section 2.04 Authentication and Delivery of Securities .................................................10  Section 2.05 Execution of Securities ..............................................................................11  Section 2.06 Certificate of Authentication......................................................................12  Section 2.07 Denomination and Date of Securities; Payments of Interest .....................12  Section 2.08 Registration, Transfer and Exchange .........................................................12  Section 2.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities ......................15  Section 2.10 Cancellation of Securities; Destruction Thereof ........................................15  Section 2.11 Temporary Securities .................................................................................16  Section 2.12    CUSIP Numbers...................................................................16  ARTICLE 3 COVENANTS OF THE ISSUER ..........................................................................16  Section 3.01 Payment of Principal and Interest ..............................................................16  Section 3.02 Offices for Payments, Etc ..........................................................................17  Section 3.03 Appointment to Fill a Vacancy in Office of Trustee .................................17  Section 3.04 Paying Agents ............................................................................................17  Section 3.05 Written Statement to Trustee .....................................................................18  ARTICLE 4 SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND  THE TRUSTEE .....................................................................................................18  Section 4.01 Issuer to Furnish Trustee Information as to Names and  Addresses of Securityholders .....................................................................18  Section 4.02 Reports by the Issuer ..................................................................................19  Section 4.03 Reports by the Trustee ...............................................................................19  Section 4.04 Preservation of Information; Communication with  Securityholders ..........................................................................................19  ARTICLE 5 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT  OF DEFAULT .......................................................................................................19  Section 5.01 Event of Default Defined; Acceleration of Maturity; Waiver of  Default........................................................................................................19  Section 5.02 Collection of Debt by Trustee; Trustee May Prove Debt ..........................21  Section 5.03 Application of Proceeds .............................................................................23  Section 5.04 Suits for Enforcement ................................................................................24  Section 5.05 Restoration of Rights on Abandonment of Proceedings ............................24  Section 5.06 Limitations on Suits by Securityholders ....................................................25  Section 5.07 Unconditional Right of Securityholders to Institute Certain Suits ............25  

 

  i i   ActiveUS 168294857v.3  Section 5.08 Powers and Remedies Cumulative; Delay or Omission Not  Waiver of Default ......................................................................................25  Section 5.09 Control by Holders of Securities................................................................26  Section 5.10 Waiver of Past Defaults .............................................................................26  Section 5.11 Trustee to Give Notice of Default ..............................................................27  Section 5.12 Right of Court to Require Filing of Undertaking to Pay Costs ..................27  ARTICLE 6 CONCERNING THE TRUSTEE ..........................................................................27  Section 6.01 Duties and Responsibilities of the Trustee; During Default; Prior  to Default ...................................................................................................27  Section 6.02 Certain Rights of the Trustee .....................................................................28  Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities  or Application of Proceeds Thereof ...........................................................29  Section 6.04 Trustee and Agents May Hold Securities; Collections, Etc .......................30  Section 6.05 Moneys Held by Trustee ............................................................................30  Section 6.06 Compensation and Indemnification of Trustee and Its Prior  Claim ..........................................................................................................30  Section 6.07 Right of Trustee to Rely on Officer’s Certificate, Etc ...............................30  Section 6.08 Disqualification; Conflicting Interests .......................................................31  Section 6.09 Persons Eligible for Appointment as Trustee ............................................31  Section 6.10 Resignation and Removal; Appointment of Successor Trustee .................31  Section 6.11 Acceptance of Appointment by Successor Trustee ...................................32  Section 6.12 Merger, Conversion, Consolidation or Succession to Business of  Trustee........................................................................................................33  Section 6.13 Preferential Collection of Claims Against the Issuer .................................34  ARTICLE 7 CONCERNING THE SECURITYHOLDERS......................................................34  Section 7.01 Evidence of Action Taken by Securityholders ..........................................34  Section 7.02 Proof of Execution of Instruments and of Holding of Securities...............34  Section 7.03 Holders to Be Treated as Owners ..............................................................34  Section 7.04 Securities Owned by Issuer Deemed Not Outstanding ..............................35  Section 7.05 Right of Revocation of Action Taken ........................................................35  ARTICLE 8 SUPPLEMENTAL INDENTURES ......................................................................35  Section 8.01 Supplemental Indentures Without Consent of Securityholders .................35  Section 8.02 Supplemental Indentures With Consent of Securityholders ......................37  Section 8.03 Effect of Supplemental Indenture ..............................................................38  Section 8.04 Documents to Be Given to Trustee ............................................................38  Section 8.05 Notation on Securities in Respect of Supplemental Indentures .................39  ARTICLE 9 CONSOLIDATION, MERGER, SALE OR CONVEYANCE .............................39  Section 9.01 Issuer May Consolidate, Etc., on Certain Terms .......................................39  Section 9.02 Successor Issuer Substituted ......................................................................39  ARTICLE 10 SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE;  UNCLAIMED MONEYS ......................................................................................40  Section 10.01 Satisfaction and Discharge of Indenture; Defeasance ...............................40  

 

  i i i   ActiveUS 168294857v.3  Section 10.02 Application by Trustee of Funds Deposited for Payment of  Securities ....................................................................................................44  Section 10.03 Repayment of Moneys Held by Paying Agent ..........................................45  Section 10.04 Return of Moneys Held by Trustee and Paying Agent  Unclaimed for Two Years ..........................................................................45  Section 10.05 Indemnity for U.S. Government Obligations and Foreign  Government Obligations ............................................................................45  ARTICLE 11 MISCELLANEOUS PROVISIONS ......................................................................45  Section 11.01 No Recourse ...............................................................................................45  Section 11.02 Provisions of Indenture for the Sole Benefit of Parties and  Holders of Securities ..................................................................................46  Section 11.03 Successors and Assigns of Issuer Bound by Indenture ..............................46  Section 11.04 Notices and Demands on Issuer, Trustee and Holders of  Securities ....................................................................................................46  Section 11.05 Officer’s Certificates and Opinions of Counsel; Statements to Be  Contained Therein ......................................................................................47  Section 11.06 Payments Due on Saturdays, Sundays and Holidays .................................48  Section 11.07 Conflict of Any Provision of Indenture With Trust Indenture Act  of 1939 .......................................................................................................48  Section 11.08 New York Law to Govern..........................................................................48  Section 11.09 Counterparts ...............................................................................................48  Section 11.10 Effect of Headings .....................................................................................48  Section 11.11 Actions by Successor .................................................................................48  Section 11.12 Severability ................................................................................................48  ARTICLE 12 REDEMPTION OF SECURITIES AND SINKING FUNDS ...............................48  Section 12.01 Applicability of Article ..............................................................................48  Section 12.02 Notice of Redemption; Partial Redemptions .............................................49  Section 12.03 Payment of Securities Called for Redemption ...........................................50  Section 12.04 Exclusion of Certain Securities from Eligibility for Selection for  Redemption ................................................................................................50  Section 12.05 Mandatory and Optional Sinking Funds ....................................................51      

 

  ActiveUS 168294857v.3  THIS INDENTURE, dated as of _________ between Emergent BioSolutions Inc., a  Delaware corporation (the “Issuer”), and ________, a _______ (the “Trustee”),  W I T N E S S E T H :  WHEREAS, the Issuer may from time to time duly authorize the issue of its unsecured  debentures, notes or other evidences of indebtedness to be issued in one or more series (the  “Securities”) up to such principal amount or amounts as may from time to time be authorized in  accordance with the terms of this Indenture;  WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to  provide, among other things, for the authentication, delivery and administration of the Securities;  and  WHEREAS, all things necessary to make this Indenture a valid indenture and agreement  according to its terms have been done;  NOW, THEREFORE:  In consideration of the premises and the purchases of the Securities by the holders  thereof, the Issuer and the Trustee mutually covenant and agree for the equal and proportionate  benefit of the respective holders from time to time of the Securities as follows:  ARTICLE 1  DEFINITIONS  Section 1.01 Certain Terms Defined.  The following terms (except as otherwise  expressly provided or unless the context otherwise clearly requires) for all purposes of this  Indenture and of any indenture supplemental hereto shall have the respective meanings specified  in this Section.  All other terms used in this Indenture that are defined in the Trust Indenture Act  of 1939 or the definitions of which in the Securities Act of 1933, as amended, are referred to in  the Trust Indenture Act of 1939, including terms defined therein by reference to the Securities  Act of 1933, as amended (except as herein otherwise expressly provided or unless the context  otherwise clearly requires), shall have the meanings assigned to such terms in said Trust  Indenture Act and in said Securities Act of 1933, as amended, as in force at the date of this  Indenture.  All accounting terms used herein and not expressly defined shall have the meanings  assigned to such terms in accordance with generally accepted accounting principles, and the term  “generally accepted accounting principles” means such accounting principles as are generally  accepted in the United States at the time of any computation.  The words “herein”, “hereof” and  “hereunder” and other words of similar import refer to this Indenture as a whole and not to any  particular Article, Section or other subdivision.  The terms defined in this Article have the  meanings assigned to them in this Article and include the plural as well as the singular.  “Additional Amounts” means any additional amounts that are required by this Indenture  or by any Security, under circumstances specified herein or therein, to be paid by the Issuer in  respect of certain taxes, assessments or other governmental charges imposed on Holders  specified therein and which are owing to such Holders.  

 

  2  ActiveUS 168294857v.3  “Applicable Procedures” means, with respect to a Depositary, as to any matter at any  time, the policies and procedures of such Depositary, if any, that are applicable to such matter at  such time.   “Board of Directors” means either the Board of Directors of the Issuer or any committee  of such Board duly authorized to act on its behalf.  “Board Resolution” means a copy of one or more resolutions, certified by the secretary  or an assistant secretary of the Issuer to have been duly adopted by the Board of Directors and to  be in full force and effect, and delivered to the Trustee.  “Business Day” means, with respect to any Security, a day that in the city (or in any of  the cities, if more than one) in which amounts are payable, as specified in the form of such  Security, is not a day on which banking institutions are authorized or required by law or  regulation to close.  “Capital Stock” means (a) in the case of a corporation, corporate stock; (b) in the case of  an association or business entity, any and all shares, interests, participations, rights or other  equivalents (however designated) of corporate stock; (c) in the case of a partnership or limited  liability company, partnership interests (whether general or limited) or membership interests; and  (d) any other interest or participation that confers on a Person the right to receive a share of the  profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of  the foregoing any Debt securities convertible into Capital Stock, whether or not such Debt  securities include any right of participation with Capital Stock.  “Commission” means the Securities and Exchange Commission, as from time to time  constituted, created under the Securities Exchange Act of 1934, as amended, or if at any time  after the execution and delivery of this Indenture such Commission is not existing and  performing the duties now assigned to it under the Trust Indenture Act of 1939, then the body  performing such duties on such date.  “Common Stock” means shares of common stock, par value $0.001 per share, of the  Issuer as the same exists at the date of execution and delivery of this Indenture or as such stock  may be reconstituted from time to time.  “Corporate Trust Office” means the office of the Trustee at which the corporate trust  business of the Trustee shall, at any particular time, be principally administered, which office is,  at the date as of which this Indenture is dated, located at __________.  “Debt” of any Person means any debt for money borrowed which is created, assumed,  incurred or guaranteed in any manner by such Person or for which such Person is otherwise  responsible or liable, and shall expressly include any such guaranty thereof by such Person.  For  the purpose of computing the amount of the Debt of any Person there shall be excluded all Debt  of such Person for the payment or redemption or satisfaction of which money or securities (or  evidences of such Debt, if permitted under the terms of the instrument creating such Debt) in the  necessary amount shall have been deposited in trust with the proper depositary, whether upon or  prior to the maturity or the date fixed for redemption of such Debt; and, in any instance where  Debt is so excluded, for the purpose of computing the assets of such Person there shall be  

 

  3  ActiveUS 168294857v.3  excluded the money, securities or evidences of Debt deposited by such Person in trust for the  purpose of paying or satisfying such Debt.  “Depositary” means, with respect to the Securities of any series issuable or issued in the  form of one or more Global Securities, the Person designated as Depositary by the Issuer  pursuant to Section 2.04 until a successor Depositary shall have become such pursuant to the  applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each  Person who is then a Depositary hereunder, and if at any time there is more than one such  Person, “Depositary” as used with respect to the Securities of any such series shall mean the  Depositary with respect to the Global Securities of that series.  “Dollar” means the currency of the United States of America as at the time of payment is  legal tender for the payment of public and private debts.  “Event of Default” means any event or condition specified as such in Section 5.01.  “Foreign Currency” means a currency issued by the government of a country other than  the United States.  “Foreign Government Obligation” means (a) a direct obligation of the government of a  country other than the United States of America, backed by the full faith and credit of such  government, (b) an obligation of a Person controlled or supervised by and acting as an agency or  instrumentality of such government, the payment of which is unconditionally guaranteed as a full  faith and credit obligation by such government or (c) any depositary receipt issued by a bank (as  defined in Section 3(a)(2) of the Securities Act of 1933) as custodian with respect to any Foreign  Government Obligation which is specified in clause (a) and held by such bank for the account of  the holder of such depositary receipt, or with respect to any specific payment of principal of or  interest on any such Foreign Government Obligation which is so specified and held, provided  that (except as required by law) such custodian is not authorized to make any deduction from the  amount payable to the holder of such depositary receipt from any amount received by the  custodian in respect of the Foreign Government Obligation or the specific payment of principal  or interest evidenced by such depositary receipt.  “Global Security” means a Security evidencing all or a part of a series of Securities,  issued to the Depositary for such series in accordance with Section 2.04, and bearing the legend  prescribed in Section 2.04.  “Holder”, “holder”, “holder of Securities”, “Securityholder” or other similar terms  mean the Person in whose name such Security is registered in the Security register kept by the  Issuer for that purpose in accordance with the terms hereof.  “Indenture” means this instrument as originally executed and delivered or, if amended  or supplemented as herein provided, as so amended or supplemented or both, and shall include  the forms and terms of particular series of Securities established as contemplated hereunder.  “interest”, unless the context otherwise requires, refers to interest, and when used with  respect to non-interest bearing Securities, refers to interest payable after maturity, if any.  

 

  4  ActiveUS 168294857v.3  “Interest Payment Date”, with respect to any Security, means the Stated Maturity of an  installment of interest on such Security.  “Issuer” means Emergent BioSolutions Inc., a Delaware corporation, and, subject to  Article 9, its successors and assigns.  “Issuer Order” means a written statement, request or order of the Issuer signed in its  name by the chairman of the Board of Directors, the president or any vice president of the Issuer.  “Notice of Default” shall have the meaning set forth in Section 5.01(c).  “Officer’s Certificate” means a certificate signed by the chairman of the Board of  Directors, the president, any vice president, the treasurer, the secretary or any assistant secretary  of the Issuer and delivered to the Trustee.  Each such certificate shall comply with Section 314 of  the Trust Indenture Act of 1939 and, except to the extent provided herein, shall include the  statements provided for in Section 11.05.  “Opinion of Counsel” means an opinion in writing signed by the general corporate  counsel or such other legal counsel who may be an employee of or counsel to the Issuer and who  shall be satisfactory to the Trustee.  Each such opinion shall comply with Section 314 of the  Trust Indenture Act of 1939 and shall include the statements provided for in Section 11.05, if and  to the extent required hereby.  “original issue date” of any Security (or portion thereof) means the earlier of (a) the date  of such Security or (b) the date of any Security (or portion thereof) for which such Security was  issued (directly or indirectly) on registration of transfer, exchange or substitution.  “Original Issue Discount Security” means any Security that provides for an amount less  than the principal amount thereof to be due and payable upon a declaration of acceleration of the  maturity thereof pursuant to Section 5.01.  “Outstanding”, when used with reference to Securities, shall, subject to the provisions of  Section 7.04, mean, as of any particular time, all Securities authenticated and delivered by the  Trustee under this Indenture, except  (a) Securities theretofore cancelled by the Trustee or delivered to the Trustee  for cancellation;  (b) Securities, or portions thereof, for the payment or redemption of which  cash, U.S. Government Obligations or Foreign Government Obligations  (as provided for in Section 10.01(a) and Section 10.01(b)) in the necessary  amount shall have been deposited in trust with the Trustee or with any  paying agent (other than the Issuer) or shall have been set aside,  segregated and held in trust by the Issuer for the Holders of such  Securities (if the Issuer shall act as its own paying agent); provided, that if  such Securities, or portions thereof, are to be redeemed prior to the  maturity thereof, notice of such redemption shall have been given as  

 

  5  ActiveUS 168294857v.3  herein provided, or provision satisfactory to the Trustee shall have been  made for giving such notice;  (c) Securities as to which Legal Defeasance shall have been effected pursuant  to Section 10.01(b);   (d) Securities in substitution for which other Securities shall have been  authenticated and delivered, or which shall have been paid, pursuant to the  terms of Section 2.09 (except with respect to any such Security as to  which proof satisfactory to the Trustee is presented that such Security is  held by a Person in whose hands such Security is a legal, valid and  binding obligation of the Issuer), Securities converted into Common Stock  pursuant hereto and Securities not deemed outstanding pursuant to Section  12.02; and  (e) Securities as to which any property deliverable upon conversion thereof  has been delivered (or such delivery has been made available), or as to  which any other particular conditions have been satisfied, in each case as  may be provided for such Securities as contemplated in Section 2.03.  In determining whether the Holders of the requisite principal amount of Outstanding  Securities of any or all series have given any request, demand, authorization, direction, notice,  consent or waiver hereunder, (A) the principal amount of an Original Issue Discount Security  that shall be deemed to be Outstanding for such purposes shall be the amount of the principal  thereof that would be due and payable as of the date of such determination upon a declaration of  acceleration of the maturity thereof pursuant to Section 5.01, (B) if, as of such date, the principal  amount payable at the Stated Maturity of a Security is not determinable, the principal amount of  such Security which shall be deemed to be Outstanding shall be the amount as specified or  determined as contemplated by Section 2.03, and (C) the principal amount of a Security  denominated in one or more foreign currencies, composite currencies or currency units which  shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date  in the manner provided as contemplated by Section 2.03, of the principal amount of such  Security (or, in the case of a Security described in clause (A) or (B) above, of the amount  determined as provided in such clause).  “Person” means any individual, corporation, partnership, limited partnership, limited  liability company, joint venture, association, joint stock company, trust, unincorporated  organization or government or any agency or political subdivision thereof.  “principal” whenever used with reference to the Securities or any Security or any portion  thereof, shall be deemed to include “and premium, if any”.  “record date” shall have the meaning set forth in Section 2.07.  “Responsible Officer”, when used with respect to the Trustee, means the chairman of the  board of directors, any vice chairman of the board of directors, the chairman of the trust  committee, the chairman of the executive committee, any vice chairman of the executive  committee, the president, any vice president, the cashier, the secretary, the treasurer, any trust  

 

  6  ActiveUS 168294857v.3  officer, any assistant trust officer, any assistant vice president, any assistant cashier, any assistant  secretary, any assistant treasurer, or any other officer or assistant officer of the Trustee  customarily performing functions similar to those performed by the persons who at the time shall  be such officers, respectively, or to whom any corporate trust matter is referred because of his or  her knowledge of and familiarity with the particular subject.  “Security” or “Securities” has the meaning stated in the first recital of this Indenture, or,  as the case may be, Securities that have been authenticated and delivered under this Indenture.  “Security Registrar” shall have the meaning set forth in Section 4.01(b).  “Stated Maturity”, with respect to any Security or any installment of principal thereof or  interest thereon or any Additional Amounts with respect thereto, means the date established by  or pursuant to this Indenture or such Security as the fixed date on which the principal of such  Security or such installment of principal or interest is, or such Additional Amounts are, due and  payable.  “Subsidiary” means any corporation or other entity (including, without limitation,  partnerships, limited liability companies, joint ventures and associations) of which at least a  majority of the outstanding Capital Stock having by the terms thereof (without regard to the  occurrence or any contingency) ordinary voting power for the election of directors (or persons  performing similar functions) of such corporation or other entity (irrespective of whether or not  at the time the Capital Stock of any other class or classes of such corporation or other entity shall  have or might have voting power by reason of the occurrence of any such contingency) is at the  time directly or indirectly owned by the Issuer, or by one or more Subsidiaries of the Issuer, or  by the Issuer and one or more other Subsidiaries of the Issuer.   “Trust Indenture Act of 1939” (except as otherwise provided in Sections 8.01 and  8.02) means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture  was originally executed.  “Trustee” means the Person identified as “Trustee” in the first paragraph hereof and,  subject to the provisions of Article 6, shall also include any successor trustee.  “Trustee” shall  also mean or include each Person who is then a trustee hereunder and if at any time there is more  than one such Person, “Trustee” as used with respect to the Securities of any series shall mean  the trustee with respect to the Securities of such series.  “U.S. Government Obligation” means (a) a direct obligation of the United States of  America, backed by its full faith and credit, or (b) an obligation of a Person controlled or  supervised by and acting as an agency or instrumentality of the United States of America, the  payment of which is unconditionally guaranteed as a full faith and credit obligation by the  United States of America.  “vice president”, when used with respect to the Issuer or the Trustee, means any vice  president, whether or not designated by a number or a word or words added before or after the  title of “vice president”.  

 

  7  ActiveUS 168294857v.3  “Yield to Maturity” means the yield to maturity on a series of securities, calculated at  the time of issuance of such series, or, if applicable, at the most recent redetermination of interest  on such series, and calculated in accordance with accepted financial practice.  ARTICLE 2  SECURITIES  Section 2.01 Forms Generally.  The Securities of each series shall be substantially in  such form (not inconsistent with this Indenture) as shall be established by or pursuant to one or  more Board Resolutions (as set forth in a Board Resolution or, to the extent established pursuant  to (rather than set forth in) a Board Resolution, an Officer’s Certificate detailing such  establishment) or in one or more indentures supplemental hereto, in each case with such  appropriate insertions, omissions, substitutions and other variations as are required or permitted  by this Indenture and may have imprinted or otherwise reproduced thereon such legend or  legends or endorsements, not inconsistent with the provisions of this Indenture, as may be  required to comply with any law or with any rules or regulations pursuant thereto, or with any  rules of any securities exchange or to conform to general usage, all as may be determined by the  officers executing such Securities as evidenced by their execution of such Securities.  The definitive Securities shall be printed, lithographed or engraved on steel engraved  borders or may be produced in any other manner, all as determined by the officers executing  such Securities as evidenced by their execution of such Securities.  Section 2.02 Form of Trustee’s Certificate of Authentication.  The Trustee’s certificate  of authentication on all Securities shall be in substantially the following form:  This is one of the Securities of the series designated herein and referred to in the within- mentioned Indenture.     as Trustee   By:    Authorized Officer  Section 2.03 Amount Unlimited; Issuable in Series.  The aggregate principal amount of  Securities which may be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more series.  The terms of a series of Securities  shall be established prior to the initial issuance thereof in or pursuant to one or more Board  Resolutions, or, to the extent established pursuant to (rather than set forth in) a Board Resolution,  in an Officer’s Certificate detailing such establishment and/or established in one or more  indentures supplemental hereto.  The terms of such series reflected in such Board Resolution,  Officer’s Certificate, or supplemental indenture may include the following or any additional or  different terms:  

 

  8  ActiveUS 168294857v.3  (a) the designation of the Securities of the series (which may be part of a  series of Securities previously issued);  (b) any limit upon the aggregate principal amount of the Securities of the  series that may be authenticated and delivered under this Indenture (except  for Securities authenticated and delivered upon registration of transfer of,  or in exchange for, or in lieu of, other Securities of the series pursuant to  Section 2.08, 2.09, 2.11, 8.05 or 12.03);  (c) the date or dates on which the principal of the Securities of the series is  payable or the method used to determine those dates and the right, if any,  to extend such date or dates;  (d) the rate or rates at which the Securities of the series shall bear interest, if  any or the method by which such rate or rates shall be determined; the  record date or dates for the determination of holders to whom interest is  payable; the date or dates from which such interest shall accrue and on  which such interest shall be payable, or the method by which such date or  dates shall be determined; the right, if any, to extend the interest payment  periods and the duration of that extension; and the basis upon which  interest shall be calculated if other than that of a 360-day year of twelve  30-day months;  (e) the place or places where the principal of and any interest on Securities of  the series shall be payable (if other than as provided in Section 3.02);  (f) the obligation or the right, if any, of the Issuer to redeem, purchase or  repay Securities of the series pursuant to any mandatory redemption,  sinking fund or analogous provisions or at the option of a Holder thereof  and the price or prices at which and the period or periods within which and  any terms and conditions upon which Securities of the series shall be  redeemed, purchased or repaid, in whole or in part, pursuant to such  obligation or right;  (g) if other than denominations of $2,000 and any integral multiple of $1,000  in excess thereof, the denominations in which Securities of the series shall  be issuable;  (h) if other than the principal amount thereof, the portion of the principal  amount of Securities of the series which shall be payable upon declaration  of acceleration of the maturity thereof;  (i) if other than Dollars, the currency, currencies or currency units in which  the Securities of the series are denominated;  (j) if other than the currency in which the Securities of the series are  denominated, the currency in which payment of the principal of or interest  on the Securities of such series shall be payable;  

 

  9  ActiveUS 168294857v.3  (k) if the principal of or interest on the Securities of the series is to be payable,  at the election of the Issuer or a Holder thereof, in a currency other than  that in which the Securities are denominated, the period or periods within  which, and the terms and conditions upon which, such election may be  made;  (l) if the amount of payments of principal of and interest on the Securities of  the series may be determined by reference to an index based on a currency  other than that in which the Securities of the series are denominated, or by  reference to one or more currency exchange rates, securities or baskets of  securities, commodity prices or indices, the manner in which such  amounts shall be determined;  (m) the terms and conditions, if applicable, upon which conversion or  exchange of the Securities into Common Stock will be effected, including  the initial conversion or exchange price or rate and any adjustments  thereto, the conversion or exchange period and other provisions in  addition to or in lieu of those described herein;  (n) if the Securities of the series may be issued in exchange for surrendered  Securities of another series, or for other securities of the Issuer, pursuant  to the terms of such Securities or securities or of any agreement entered  into by the Issuer, the ratio of the principal amount of the Securities of the  series to be issued to the principal amount of the Securities or securities to  be surrendered in exchange, and any other material terms of the exchange;   (o) if Sections 10.01(b) or 10.01(c) are inapplicable to Securities of such  series;  (p) whether and under what circumstances the Issuer will pay Additional  Amounts on the Securities and, if so, whether the Issuer will have the  option to redeem such Securities rather than pay such additional amounts;  (q) if the Securities of such series are to be issuable in definitive form  (whether upon original issue or upon exchange of a temporary Security of  such series) only upon receipt of certain certificates or other documents or  satisfaction of other conditions, then the form and terms of such  certificates, documents or conditions;  (r) any trustees, authenticating or paying agents, transfer agents or registrars  or any other agents with respect to the Securities of such series;  (s) any other events of default or covenants with respect to the Securities of  such series in addition to or in lieu of those contained in this Indenture;  and  (t) any other terms of the series.  

 

  10  ActiveUS 168294857v.3  The Issuer may from time to time, without notice to or the consent of the holders of any  series of Securities, create and issue further Securities of any such series ranking equally with the  Securities of such series in all respects (or in all respects other than (1) the payment of interest  accruing prior to the issue date of such further Securities or (2) the first payment of interest  following the issue date of such further Securities).  Such further Securities may be consolidated  and form a single series with the Securities of such series and have the same terms as to status,  redemption or otherwise as the Securities of such series.  Section 2.04 Authentication and Delivery of Securities.  The Issuer may deliver  Securities of any series executed by the Issuer to the Trustee for authentication together with the  applicable documents referred to below in this Section, and the Trustee shall thereupon  authenticate and deliver such Securities to or upon the order of the Issuer (contained in the Issuer  Order referred to below in this Section) or pursuant to such procedures acceptable to the Trustee  and to such recipients as may be specified from time to time by an Issuer Order.  The maturity  date, original issue date, interest rate and any other terms of the Securities of such series shall be  determined by or pursuant to such Issuer Order and procedures.  If provided for in such  procedures, such Issuer Order may authorize authentication and delivery pursuant to oral  instructions from the Issuer or its duly authorized agent, which instructions shall be promptly  confirmed in writing.  In authenticating such Securities and accepting the additional  responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to  receive, and (subject to Section 6.01) shall be fully protected in relying upon:  (a) an Issuer Order requesting such authentication and setting forth delivery  instructions if the Securities are not to be delivered to the Issuer;  (b) any Board Resolution, Officer’s Certificate and/or executed supplemental  indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the  forms and terms of the Securities were established;  (c) an Officer’s Certificate setting forth the form or forms and terms of the  Securities stating that the form or forms and terms of the Securities have  been established pursuant to Sections 2.01 and 2.03 and comply with this  Indenture, and covering such other matters as the Trustee may reasonably  request; and  (d) an Opinion of Counsel to the effect that:  (i) the form or forms and terms of such Securities have been  established pursuant to Sections 2.01 and 2.03 and comply with  this Indenture,  (ii) the authentication and delivery of such Securities by the Trustee  are authorized under the provisions of this Indenture, and  (iii) such Securities when authenticated and delivered by the Trustee  and issued by the Issuer in the manner and subject to any  conditions specified in such Opinion of Counsel, will constitute  valid and binding obligations of the Issuer,   

 

  11  ActiveUS 168294857v.3  and covering such other matters as the Trustee may reasonably request.  The Trustee shall have the right to decline to authenticate and deliver any Securities  under this Section if the Trustee, being advised by counsel, determines that such action may not  lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of  trustees, executive committee, or a trust committee of directors or trustees or Responsible  Officers shall determine that such action would expose the Trustee to personal liability to  existing Holders or would affect the Trustee’s own rights, duties or immunities under the  Securities, this Indenture or otherwise.  The Issuer shall execute and the Trustee shall, in accordance with this Section with  respect to the Securities of a series, authenticate and deliver one or more Global Securities that  (i) shall represent and shall be denominated in an amount equal to the aggregate principal  amount of all of the Securities of such series issued and not yet cancelled, (ii) shall be registered  in the name of the Depositary for such Global Security or Securities or the nominee of such  Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such  Depositary’s instructions and (iv) shall bear a legend substantially to the following effect:   “UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR  SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE  TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE  DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR  ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH  NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR  DEPOSITARY.”  Each Depositary designated pursuant to this Section must, at the time of its designation  and at all times while it serves as Depositary, be a clearing agency registered under the Securities  Exchange Act of 1934, as amended, and any other applicable statute or regulation.  Section 2.05 Execution of Securities.  The Securities shall be signed on behalf of the  Issuer by the chairman of its Board of Directors, any vice chairman of its Board of Directors, its  chief executive officer, its principal financial officer, its president, any vice president or its  treasurer.  Such signatures may be the manual or facsimile signatures of the present or any future  such officers.  Typographical and other minor errors or defects in any such reproduction of any  such signature shall not affect the validity or enforceability of any Security that has been duly  authenticated and delivered by the Trustee.  In case any officer of the Issuer who shall have signed any of the Securities shall cease to  be such officer before the Security so signed shall be authenticated and delivered by the Trustee  or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or  disposed of as though the person who signed such Security had not ceased to be such officer of  the Issuer; and any Security may be signed on behalf of the Issuer by such persons as, at the  actual date of the execution of such Security, shall be the proper officers of the Issuer, although  at the date of the execution and delivery of this Indenture any such person was not such an  officer.  

 

  12  ActiveUS 168294857v.3  Section 2.06 Certificate of Authentication.  Only such Securities as shall bear thereon a  certificate of authentication substantially in the form hereinbefore recited, executed by the  Trustee by the manual signature of one of its authorized officers, shall be entitled to the benefits  of this Indenture or be valid or obligatory for any purpose.  The execution of such certificate by  the Trustee upon any Security executed by the Issuer shall be conclusive evidence that the  Security so authenticated has been duly authenticated and delivered hereunder and that the  Holder is entitled to the benefits of this Indenture.  Section 2.07 Denomination and Date of Securities; Payments of Interest.  The  Securities of each series shall be issuable in denominations established as contemplated by  Section 2.03 or, if not so established, in denominations of $2,000 and any integral multiple of  $1,000 thereof.  The Securities of each series shall be numbered, lettered or otherwise  distinguished in such manner or in accordance with such plan as the officers of the Issuer  executing the same may determine with the approval of the Trustee, as evidenced by the  execution and authentication thereof.  Unless otherwise indicated in a Board Resolution,  Officer’s Certificate or supplemental indenture for a particular series, interest will be calculated  on the basis of a 360-day year of twelve 30-day months.  Each Security shall be dated the date of its authentication.  The Securities of each series  shall bear interest, if any, from the date, and such interest shall be payable on the dates,  established as contemplated by Section 2.03.  The Person in whose name any Security of any series is registered at the close of business  on any record date applicable to a particular series with respect to any Interest Payment Date for  such series shall be entitled to receive the interest, if any, payable on such Interest Payment Date  notwithstanding any transfer, exchange or conversion of such Security subsequent to the record  date and prior to such Interest Payment Date, except if and to the extent the Issuer shall default in  the payment of the interest due on such Interest Payment Date for such series, in which case such  defaulted interest shall be paid to the Persons in whose names Outstanding Securities for such  series are registered at the close of business on a subsequent record date (which shall be not less  than five Business Days prior to the date of payment of such defaulted interest) established by  notice given by or on behalf of the Issuer to the Holders of Securities not less than 15 days  preceding such subsequent record date.  The term “record date” as used with respect to any  Interest Payment Date (except a date for payment of defaulted interest) for the Securities of any  series shall mean the date specified as such in the terms of the Securities of such series  established as contemplated by Section 2.03, or, if no such date is so specified, if such Interest  Payment Date is the first day of a calendar month, the 15th day of the immediately preceding  calendar month or, if such Interest Payment Date is the 15th day of a calendar month, the first  day of such calendar month, whether or not such record date is a Business Day.  Section 2.08 Registration, Transfer and Exchange.  The Issuer will keep at each office  or agency to be maintained for the purpose as provided in Section 3.02 for each series of  Securities a register or registers in which, subject to such reasonable regulations as it may  prescribe, it will provide for the registration of Securities of such series and the registration of  transfer of Securities of such series.  Such register shall be in written form in the English  language or in any other form capable of being converted into such form within a reasonable  

 

  13  ActiveUS 168294857v.3  time.  At all reasonable times such register or registers shall be open for inspection by the  Trustee.  Upon due presentation for registration of transfer of any Security of any series at any  such office or agency to be maintained for the purpose as provided in Section 3.02, the Issuer  shall execute and the Trustee shall authenticate and deliver in the name of the transferee or  transferees a new Security or Securities of the same series, maturity date, interest rate and  original issue date in authorized denominations for a like aggregate principal amount.  At the option of the Holder thereof, Securities of any series (except a Global Security)  may be exchanged for a Security or Securities of such series having authorized denominations  and an equal aggregate principal amount, upon surrender of such Securities to be exchanged at  the agency of the Issuer that shall be maintained for such purpose in accordance with Section  3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided.   Whenever any Securities are so surrendered for exchange, the Issuer shall execute, and the  Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is  entitled to receive.  All Securities surrendered upon any exchange or transfer provided for in this  Indenture shall be promptly cancelled and disposed of by the Trustee and the Trustee will deliver  a certificate of disposition thereof to the Issuer.  All Securities presented for registration of transfer, exchange, redemption or payment  shall (if so required by the Issuer or the Trustee) be duly endorsed by, or be accompanied by a  written instrument or instruments of transfer in form satisfactory to the Issuer and the Trustee  duly executed by, the Holder or his or her attorney duly authorized in writing.  The Issuer may require payment of a sum sufficient to cover any stamp or other tax or  other governmental charge that may be imposed in connection with any exchange or registration  of transfer of Securities.  No service charge shall be made for any such transaction.  The Issuer shall not be required to exchange or register a transfer of (a) any Securities of  any series for a period of 15 days immediately preceding the first delivery of notice of  redemption of Securities of such series to be redeemed or (b) any Securities selected, called or  being called for redemption, in whole or in part, except, in the case of any Security to be  redeemed in part, the portion thereof not so to be redeemed.  Notwithstanding any other provision of this Section 2.08, unless and until it is exchanged  in whole or in part for Securities in definitive registered form, a Global Security representing all  or a portion of the Securities of a series may not be transferred except as a whole by the  Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary  to such Depositary or another nominee of such Depositary or by such Depositary or any such  nominee to a successor Depositary for such series or a nominee of such successor Depositary.  If at any time the Depositary for the Securities of a series notifies the Issuer that it is  unwilling or unable to continue as Depositary for the Securities of such series or if at any time  the Depositary for the Securities of a series shall no longer be eligible under Section 2.04, the  Issuer shall appoint a successor Depositary with respect to the Securities of such series.  If a  successor Depositary for the Securities of such series is not appointed by the Issuer within 90  

 

  14  ActiveUS 168294857v.3  days after the Issuer receives such notice or becomes aware of such ineligibility, the Issuer’s  determination pursuant to Section 2.03 that the Securities of such series be represented by a  Global Security shall no longer be effective and the Issuer will execute, and the Trustee, upon  receipt of an Officer’s Certificate for the authentication and delivery of definitive Securities of  such series, will authenticate and deliver, Securities of such series in definitive registered form,  in any authorized denominations, in an aggregate principal amount equal to the principal amount  of the Global Security or Securities representing the Securities of such series, in exchange for  such Global Security or Securities.  The Issuer may at any time and in its sole discretion determine that the Securities of any  series issued in the form of one or more Global Securities shall no longer be represented by a  Global Security or Securities.  In such event the Issuer will execute, and the Trustee, upon  receipt of an Officer’s Certificate for the authentication and delivery of definitive Securities of  such series, will authenticate and deliver, Securities of such series in definitive registered form,  in any authorized denominations, in an aggregate principal amount equal to the principal amount  of the Global Security or Securities representing such series, in exchange for such Global  Security or Securities.  The Depositary for such Global Security may surrender such Global Security in exchange  in whole or in part for Securities of the same series in definitive registered form in accordance  with the two preceding paragraphs or on such other terms as are acceptable to the Issuer and such  Depositary.  Thereupon, the Issuer shall execute, and the Trustee shall authenticate and deliver,  without service charge,  (i) to the Person specified by such Depositary a new Security or  Securities of the same series, of any authorized denominations as  requested by such Person, in an aggregate principal amount equal  to and in exchange for such Person’s beneficial interest in the  Global Security; and  (ii) to such Depositary a new Global Security in a denomination equal  to the difference, if any, between the principal amount of the  surrendered Global Security and the aggregate principal amount of  Securities authenticated and delivered pursuant to clause (i) above.  Upon the exchange of a Global Security for Securities in definitive registered form, in  authorized denominations, such Global Security shall be cancelled by the Trustee.  Securities in  definitive registered form issued in exchange for a Global Security pursuant to this Section 2.08  shall be registered in such names and in such authorized denominations as the Depositary for  such Global Security, pursuant to instructions from its direct or indirect participants or otherwise,  shall instruct the Trustee.  The Trustee shall deliver such Securities to or as directed by the  Persons in whose names such Securities are so registered.  All Securities issued upon any transfer or exchange of Securities shall be valid  obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this  Indenture, as the Securities surrendered upon such transfer or exchange.  

 

  15  ActiveUS 168294857v.3  Section 2.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities.  In case any  temporary or definitive Security shall become mutilated or defaced or be destroyed, lost or  stolen, the Issuer in its discretion may execute, and upon the written request of any officer of the  Issuer, the Trustee shall authenticate and deliver a new Security of the same series, maturity date,  interest rate and original issue date, bearing a number or other distinguishing symbol not  contemporaneously outstanding, in exchange and substitution for the mutilated or defaced  Security, or in lieu of and substitution for the Security so destroyed, lost or stolen.  In every case  the applicant for a substitute Security shall furnish to the Issuer and to the Trustee and any agent  of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify  and defend and to save each of them harmless and, in every case of destruction, loss or theft,  evidence to their satisfaction of the destruction, loss or theft of such Security and of the  ownership thereof and in the case of mutilation or defacement shall surrender the Security to the  Trustee.  Upon the issuance of any substitute Security, the Issuer may require the payment of a  sum sufficient to cover any tax or other governmental charge that may be imposed in relation  thereto and any other expenses (including the fees and expenses of the Trustee) connected  therewith.  In case any Security which has matured or is about to mature or has been called for  redemption in full, or is being surrendered for conversion in full, shall become mutilated or  defaced or be destroyed, lost or stolen, the Issuer may, instead of issuing a substitute Security  (with the Holder’s consent, in the case of convertible Securities), pay or authorize the payment of  the same or convert, or authorize conversion of the same (without surrender thereof except in the  case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the  Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as  any of them may require to save each of them harmless, and, in every case of destruction, loss or  theft, the applicant shall also furnish to the Issuer and the Trustee and any agent of the Issuer or  the Trustee evidence to their satisfaction of the destruction, loss or theft of such Security and of  the ownership thereof.  Every substitute Security of any series issued pursuant to the provisions of this Section by  virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an additional  contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Security shall be  at any time enforceable by anyone and shall be entitled to all the benefits of (but shall be subject  to all the limitations of rights set forth in) this Indenture equally and proportionately with any  and all other Securities of such series duly authenticated and delivered hereunder.  All Securities  shall be held and owned upon the express condition that, to the extent permitted by law, the  foregoing provisions are exclusive with respect to the replacement or payment or conversion of  mutilated, defaced or destroyed, lost or stolen Securities and shall preclude any and all other  rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary  with respect to the replacement or payment of negotiable instruments or other securities without  their surrender.  Section 2.10 Cancellation of Securities; Destruction Thereof.  All Securities  surrendered for exchange for Securities of the same series or for payment, redemption,  registration of transfer or conversion or for credit against any payment in respect of a sinking or  analogous fund, if surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be  delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it;  

 

  16  ActiveUS 168294857v.3  and no Securities shall be issued in lieu thereof except as expressly permitted by any of the  provisions of this Indenture.  The Trustee shall dispose of cancelled Securities held by it and  deliver a certificate of disposition to the Issuer.  If the Issuer shall acquire any of the Securities,  such acquisition shall not operate as a redemption or satisfaction of the Debt represented by such  Securities unless and until the same are delivered to the Trustee for cancellation.  Section 2.11 Temporary Securities.  Pending the preparation of definitive Securities for  any series, the Issuer may execute and the Trustee shall authenticate and deliver temporary  Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each  case in form satisfactory to the Trustee).  Temporary Securities of any series shall be issuable in  any authorized denomination, and substantially in the form of the definitive Securities of such  series but with such omissions, insertions and variations as may be appropriate for temporary  Securities, all as may be determined by the Issuer with the concurrence of the Trustee as  evidenced by the execution and authentication thereof.  Temporary Securities may contain such  reference to any provisions of this Indenture as may be appropriate.  Every temporary Security  shall be executed by the Issuer and be authenticated by the Trustee upon the same conditions and  in substantially the same manner, and with like effect, as the definitive Securities.  Without  unreasonable delay the Issuer shall execute and shall furnish definitive Securities of such series  and thereupon temporary Securities of such series may be surrendered in exchange therefor  without charge at each office or agency to be maintained by the Issuer for that purpose pursuant  to Section 3.02 and the Trustee shall authenticate and deliver in exchange for such temporary  Securities of such series an equal aggregate principal amount of definitive Securities of the same  series having authorized denominations.  Until so exchanged, the temporary Securities of any  series shall be entitled to the same benefits under this Indenture as definitive Securities of such  series, unless the benefits of the temporary Securities are limited pursuant to Section 2.03.  Section 2.12    CUSIP Numbers. The Issuer in issuing the Securities may use “CUSIP”  numbers if then generally in use and, if so, the Trustee may use “CUSIP” numbers in notices of  redemption as a convenience to Holders. Any such notice may state that no representation is  made as to the correctness of such numbers either as printed on the Securities or as contained in  any notice of a redemption and that reliance may be placed only on the other identification  numbers printed on the Securities. No such redemption shall be affected by any defect in or  omission of such numbers.  ARTICLE 3  COVENANTS OF THE ISSUER  Section 3.01 Payment of Principal and Interest.  The Issuer covenants and agrees for  the benefit of each series of Securities that it will duly and punctually pay or cause to be paid the  principal of, and interest on, each of the Securities of such series (together with any additional  amounts payable pursuant to the terms of such Securities) at the place or places, at the respective  times and in the manner provided in such Securities and in this Indenture.  The interest on  Securities (together with any additional amounts payable pursuant to the terms of such  Securities) shall be payable only to or upon the written order of the Holders thereof and at the  option of the Issuer may be paid by mailing checks for such interest payable to or upon the  written order of such Holders at their last addresses as they appear on the Security register of the  Issuer.  

 

  17  ActiveUS 168294857v.3  Section 3.02 Offices for Payments, Etc.  The Issuer will maintain (i) in _______, an  agency where the Securities of each series may be presented for payment, an agency where the  Securities of each series may be presented for exchange and conversion, if applicable, as  provided in this Indenture and an agency where the Securities of each series may be presented  for registration of transfer as in this Indenture provided and (ii) such further agencies in such  places as may be determined for the Securities of such series pursuant to Section 2.03.  The Issuer will maintain in __________, an agency where notices and demands to or  upon the Issuer in respect of the Securities of any series or this Indenture may be served.  The Issuer will give to the Trustee written notice of the location of each such agency and  of any change of location thereof.  In case the Issuer shall fail to maintain any agency required  by this Section to be located in __________, or shall fail to give such notice of the location or of  any change in the location of any of the above agencies, presentations and demands may be  made and notices may be served at the Corporate Trust Office of the Trustee.  The Issuer may from time to time designate one or more additional agencies where the  Securities of a series may be presented for payment, where the Securities of that series may be  presented for exchange or conversion, if applicable, as provided in this Indenture and pursuant to  Section 2.03 and where the Securities of that series may be presented for registration of transfer  as in this Indenture provided, and the Issuer may from time to time rescind any such designation,  as the Issuer may deem desirable or expedient; provided, however, that no such designation or  rescission shall in any manner relieve the Issuer of its obligation to maintain the agencies  provided for in this Section.  The Issuer will give to the Trustee prompt written notice of any  such designation or rescission thereof.  Section 3.03 Appointment to Fill a Vacancy in Office of Trustee.  The Issuer, whenever  necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided  in Section 6.10, a Trustee, so that there shall at all times be a Trustee with respect to each series  of Securities hereunder.  Section 3.04 Paying Agents.  Whenever the Issuer shall appoint a paying agent other  than the Trustee with respect to the Securities of any series, it will cause such paying agent to  execute and deliver to the Trustee an instrument in which such agent shall agree with the  Trustee, subject to the provisions of this Section,  (a) that it will hold all sums received by it as such agent for the payment of  the principal of or interest on the Securities of such series (whether such  sums have been paid to it by the Issuer or by any other obligor on the  Securities of such series) in trust for the benefit of the Holders of the  Securities of such series or of the Trustee,  (b) that it will give the Trustee notice of any failure by the Issuer (or by any  other obligor on the Securities of such series) to make any payment of the  principal of or interest on the Securities of such series when the same shall  be due and payable, and  

 

  18  ActiveUS 168294857v.3  (c) that at any time during the continuance of any such failure, upon the  written request of the Trustee, it will forthwith pay to the Trustee all sums  so held in trust by such paying agent.  The Issuer will, on or prior to each due date of the principal of or interest on the  Securities of such series, deposit with the paying agent a sum sufficient to pay such principal or  interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly  notify the Trustee of any failure to take such action.  If the Issuer shall act as its own paying agent with respect to the Securities of any series,  it will, on or before each due date of the principal of or interest on the Securities of such series,  set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such series  a sum sufficient to pay such principal or interest so becoming due.  The Issuer will promptly  notify the Trustee of any failure to take such action.  Anything in this Section to the contrary notwithstanding, but subject to Section 10.01, the  Issuer may at any time, for the purpose of obtaining a satisfaction and discharge with respect to  one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid  to the Trustee all sums held in trust for any such series by the Issuer or any paying agent  hereunder, as required by this Section, such sums to be held by the Trustee upon the trusts herein  contained.  Anything in this Section to the contrary notwithstanding, the agreement to hold sums in  trust as provided in this Section is subject to the provisions of Sections 10.03 and 10.04.  Section 3.05 Written Statement to Trustee.  So long as any Securities are Outstanding  hereunder, the Issuer will deliver to the Trustee, within 120 days after the end of each fiscal year  of the Issuer ending after the date hereof, a written certificate covering the previous fiscal year,  (which need not comply with Section 11.05), signed by its principal executive officer, principal  financial officer or principal accounting officer, stating whether or not, to the best knowledge of  such officer, the Issuer is in default in the performance and observance of any of the terms,  provisions and conditions of this Indenture (without regard to any period of grace or requirement  of notice provided hereunder) and, if the Issuer shall be in default, specifying all such defaults  and the nature and status thereof of which they may have knowledge.  ARTICLE 4  SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE  Section 4.01 Issuer to Furnish Trustee Information as to Names and Addresses of  Securityholders.  The Issuer covenants and agrees that it will furnish or cause to be furnished to  the Trustee a list in such form as the Trustee may reasonably require of the names and addresses  of the Holders of the Securities of each series pursuant to Section 312 of the Trust Indenture Act  of 1939:  (a) semiannually and not more than 15 days after each record date for the  payment of interest on such Securities, as hereinabove specified, as of  such record date and on dates to be determined pursuant to Section 2.03  for non-interest bearing Securities in each year, and  

 

  19  ActiveUS 168294857v.3  (b) at such other times as the Trustee may request in writing, within 30 days  after receipt by the Issuer of any such request as of a date not more than 15  days prior to the time such information is furnished, provided, that, if and  so long as the Trustee shall be the Security registrar (the “Security  Registrar”) for such series, such list shall not be required to be furnished.  Section 4.02 Reports by the Issuer.  The Issuer covenants to comply with Section  314(a) of the Trust Indenture Act of 1939 insofar as it relates to information, documentation and  other reports which the Issuer may be required to file with the Commission pursuant to Section  13 or Section 15(d) of the Securities Exchange Act of 1934, as amended.  Section 4.03 Reports by the Trustee.  Any Trustee’s report required under Section  313(a) of the Trust Indenture Act of 1939 shall be transmitted on or before ______ in each year  following the date hereof, so long as any Securities are Outstanding hereunder, and shall be  dated as of a date convenient to the Trustee but no more than 60 nor less than 45 days prior  thereto.  The Trustee shall comply with Sections 313(b), 313(c) and 313(d) of the Trust  Indenture Act of 1939.  Section 4.04 Preservation of Information; Communication with Securityholders.  (a)  The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to  the names and addresses of the Holders of Securities contained in the most recent list furnished  to it as provided in Section 4.01 and as to the names and addresses of holders of Securities  received by the Trustee in its capacity as Security Registrar (if acting in such capacity).  (b) The Trustee may destroy any list furnished to it as provided in Section  4.01 upon receipt of a new list so furnished.  (c) Securityholders may communicate as provided in Section 312(b) of the  Trust Indenture Act of 1939 with other Securityholders with respect to  their rights under this Indenture or under the Securities.  The Issuer, the  Trustee, the Security Registrar and any other Person shall have the  protection of Section 312(c) of the Trust Indenture Act of 1939.    ARTICLE 5  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT  Section 5.01 Event of Default Defined; Acceleration of Maturity; Waiver of Default.   “Event of Default”, with respect to Securities of any series wherever used herein, means any  one of the following events which shall have occurred and be continuing (whatever the reason  for such Event of Default and whether it shall be voluntary or involuntary or be effected by  operation of law or pursuant to any judgment, decree or order of any court or any order, rule or  regulation of any administrative or governmental body):  (a) default in the payment of any installment of interest upon any of the  Securities of such series as and when the same shall become due and  payable, and continuance of such default for a period of 30 days (or such  other period as may be established for the Securities of such series as  contemplated by Section 2.03); or  

 

  20  ActiveUS 168294857v.3  (b) default in the payment of all or any part of the principal on any of the  Securities of such series as and when the same shall become due and  payable either at maturity, upon redemption, by declaration or otherwise  (and, if established for the Securities of such series as contemplated by  Section 2.03, the continuance of such default for a specified period); or  (c) default in the performance, or breach, of any covenant or agreement of the  Issuer in respect of the Securities of such series (other than a covenant or  agreement in respect of the Securities of such series a default in the  performance or breach of which is elsewhere in this Section specifically  dealt with), and continuance of such default or breach for a period of 90  days after there has been given, by registered or certified mail, to the  Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at  least 25% in principal amount of the Outstanding Securities of such series,  a written notice specifying such default or breach and requiring it to be  remedied and stating that such notice is a “Notice of Default” hereunder;  or  (d) a court having jurisdiction in the premises shall enter a decree or order for  relief in respect of the Issuer in an involuntary case under any applicable  bankruptcy, insolvency or other similar law now or hereafter in effect, or  appointing a receiver, liquidator, assignee, custodian, trustee or  sequestrator (or similar official) of the Issuer or for all or substantially all  of its property and assets or ordering the winding up or liquidation of its  affairs, and such decree or order shall remain unstayed and in effect for a  period of 90 consecutive days; or  (e) the Issuer shall commence a voluntary case under any applicable  bankruptcy, insolvency or other similar law now or hereafter in effect, or  consent to the entry of an order for relief in an involuntary case under any  such law, or consent to the appointment of or taking possession by a  receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar  official) of the Issuer or for any substantial part of its property and assets,  or make any general assignment for the benefit of creditors; or  (f) any other Event of Default provided for in such series of Securities.  If an Event of Default described in clauses (a), (b), (c) or (f) occurs and is continuing,  then, and in each and every such case, unless the principal of all of the Securities of such series  shall have already become due and payable, either the Trustee or the Holders of not less than  25% in aggregate principal amount of the Securities of such series then Outstanding hereunder  (each such series voting as a separate class) by notice in writing to the Issuer (and also to the  Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of such  series are Original Issue Discount Securities, such portion of the principal amount as may be  specified in the terms of such series) of all Securities of such series and the interest accrued  thereon, if any, to be due and payable immediately, and upon any such declaration the same shall  become immediately due and payable.  If an Event of Default described in clauses (d) or (e)  

 

  21  ActiveUS 168294857v.3  occurs and is continuing, then and in each and every such case, the entire principal (or, if any  Securities are Original Issue Discount Securities, such portion of the principal as may be  specified in the terms thereof) of all the Securities then Outstanding and interest accrued thereon,  if any, shall automatically become immediately due and payable.  The foregoing provisions, however, are subject to the condition that if, at any time after  the principal of the Securities of any series shall have been so declared due and payable, and  before any judgment or decree for the payment of the moneys due shall have been obtained or  entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum  sufficient to pay all matured installments of interest upon all the Securities of such series and the  principal of any and all Securities of such series which shall have become due otherwise than by  acceleration (with interest upon such principal and, to the extent that payment of such interest is  enforceable under applicable law, on overdue installments of interest, at the same rate as the rate  of interest specified in the Securities of such series to the date of such payment or deposit) and  such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents,  attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by  the Trustee except as a result of negligence or bad faith, and if any and all Events of Default  under the Indenture with respect to such series, other than the non-payment of the principal of  Securities of such series which shall have become due solely by such acceleration, shall have  been cured, waived or otherwise remedied as provided herein, then and in every such case the  Holders of a majority in aggregate principal amount of all the Securities of such series then  Outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults with  respect to such series and rescind and annul such declaration and its consequences, but no such  waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall  impair any right consequent thereon.  Unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental  indenture for a series of Original Issue Discount Securities, for all purposes under this Indenture,  if a portion of the principal of any Original Issue Discount Securities shall have been accelerated  and declared due and payable pursuant to the provisions hereof, then, from and after such  declaration, unless such declaration has been rescinded and annulled, the principal amount of  such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such  portion of the principal thereof as shall be due and payable as a result of such acceleration, and  payment of such portion of the principal thereof as shall be due and payable as a result of such  acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall  constitute payment in full of such Original Issue Discount Securities.  Section 5.02 Collection of Debt by Trustee; Trustee May Prove Debt.  The Issuer  covenants that (a) in case default shall be made in the payment of any installment of interest on  any of the Securities of any series when such interest shall have become due and payable, and  such default shall have continued for a period of 90 days or (b) in case default shall be made in  the payment of all or any part of the principal of any of the Securities of any series when the  same shall have become due and payable, whether upon maturity of the Securities of such series  or upon any redemption or by declaration or otherwise, then, upon demand of the Trustee, the  Issuer will pay to the Trustee for the benefit of the Holders of the Securities of such series the  whole amount that then shall have become due and payable on all Securities of such series for  principal or interest, as the case may be (with interest to the date of such payment upon the  

 

  22  ActiveUS 168294857v.3  overdue principal and, to the extent that payment of such interest is enforceable under applicable  law, on overdue installments of interest at the same rate as the rate of interest or Yield to  Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such  series); and, in addition thereto, such further amount as shall be sufficient to cover the costs and  expenses of collection, including reasonable compensation to the Trustee and each predecessor  trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred,  and all advances made, by the Trustee and each predecessor trustee except as a result of its  negligence or bad faith.  In case the Issuer shall fail forthwith to pay such amounts upon such demand, the  Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to  institute any action or proceedings at law or in equity for the collection of the sums so due and  unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may  enforce any such judgment or final decree against the Issuer or other obligor upon such  Securities and collect in the manner provided by law out of the property of the Issuer or other  obligor upon such Securities, wherever situated, the moneys adjudged or decreed to be payable.  In case there shall be pending proceedings relative to the Issuer or any other obligor upon  the Securities under Title 11 of the United States Code or any other applicable Federal or state  bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in  bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been  appointed for or taken possession of the Issuer or its property or such other obligor or its  property, or in case of any other comparable judicial proceedings relative to the Issuer or other  obligor upon the Securities of any series, or to the creditors or property of the Issuer or such  other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be  due and payable as therein expressed or by declaration or otherwise and irrespective of whether  the Trustee shall have made any demand pursuant to the provisions of this Section, shall be  entitled and empowered, by intervention in such proceedings or otherwise:  (i) to file and prove a claim or claims for the whole amount of  principal and interest (or, if the Securities of any series are Original  Issue Discount Securities, such portion of the principal amount as  may be specified in the terms of such series) owing and unpaid in  respect of the Securities of any series, and to file such other papers  or documents as may be necessary or advisable in order to have the  claims of the Trustee (including any claim for reasonable  compensation to the Trustee and each predecessor trustee, and their  respective agents, attorneys and counsel, and for reimbursement of  all expenses and liabilities incurred, and all advances made, by the  Trustee and each predecessor trustee, except as a result of  negligence or bad faith) and of the Securityholders allowed in any  judicial proceedings relative to the Issuer or other obligor upon the  Securities of any series, or to the creditors or property of the Issuer  or such other obligor,  (ii) unless prohibited by applicable law and regulations, to vote on  behalf of the Holders of the Securities of any series in any election  

 

  23  ActiveUS 168294857v.3  of a trustee or a standby trustee in arrangement, reorganization,  liquidation or other bankruptcy or insolvency proceedings or  person performing similar functions in comparable proceedings,  and  (iii) to collect and receive any moneys or other property payable or  deliverable on any such claims, and to distribute all amounts  received with respect to the claims of the Securityholders and of  the Trustee on their behalf; and any trustee, receiver or liquidator,  custodian or other similar official is hereby authorized by each of  the Securityholders to make payments to the Trustee, and, in the  event that the Trustee shall consent to the making of payments  directly to the Securityholders, to pay to the Trustee such amounts  as shall be sufficient to cover reasonable compensation to the  Trustee, each predecessor trustee and their respective agents,  attorneys and counsel, and all other expenses and liabilities  incurred, and all advances made, by the Trustee and each  predecessor trustee except as a result of negligence or bad faith and  all other amounts due to the Trustee or any predecessor trustee  pursuant to Section 6.06.  Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent  to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization,  arrangement, adjustment or composition affecting the Securities of any series or the rights of any  Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in  any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or  similar person.  All rights of action and of asserting claims under this Indenture, or under any of the  Securities of any series, may be enforced by the Trustee without the possession of any of the  Securities of such series or the production thereof on any trial or other proceedings relative  thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own  name as trustee of an express trust, and any recovery of judgment, subject to the payment of the  expenses, disbursements and compensation of the Trustee, each predecessor trustee and their  respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities in  respect of which such action was taken.  In any proceedings brought by the Trustee (and also any proceedings involving the  interpretation of any provision of this Indenture to which the Trustee shall be a party), the  Trustee shall be held to represent all the Holders of the Securities in respect to which such action  was taken, and it shall not be necessary to make any Holders of such Securities parties to any  such proceedings.  Section 5.03 Application of Proceeds.  Any moneys collected by the Trustee pursuant  to this Article in respect of any series shall be applied in the following order at the date or dates  fixed by the Trustee and, in case of the distribution of such moneys on account of principal or  interest, upon presentation of the several Securities in respect of which monies have been  

 

  24  ActiveUS 168294857v.3  collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such  series in reduced principal amounts in exchange for the presented Securities of like series if only  partially paid, or upon surrender thereof if fully paid:  FIRST:  To the payment of all amounts due to the Trustee or any predecessor  trustee pursuant to Section 6.06;  SECOND:  In case the principal of the Securities of such series in respect of  which moneys have been collected shall not have become and be then due and payable, to  the payment of interest on the Securities of such series in default in the order of the  maturity of the installments of such interest, with interest (to the extent that such interest  has been collected by the Trustee) upon the overdue installments of interest, to the extent  permitted by applicable law, at the same rate as the rate of interest or Yield to Maturity  (in the case of Original Issue Discount Securities) specified in such Securities, such  payments to be made ratably to the Persons entitled thereto, without discrimination or  preference;  THIRD:  In case the principal of the Securities of such series in respect of which  moneys have been collected shall have become and shall be then due and payable, to the  payment of the whole amount then owing and unpaid upon all the Securities of such  series for principal and interest, with interest upon the overdue principal, and (to the  extent that such interest has been collected by the Trustee) upon overdue installments of  interest, to the extent permitted by applicable law, at the same rate as the rate of interest  or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the  Securities of such series; and in case such moneys shall be insufficient to pay in full the  whole amount so due and unpaid upon the Securities of such series, then to the payment  of such principal and interest, without preference or priority of principal over interest, or  of interest over principal, or of any installment of interest over any other installment of  interest, or of any Security of such series over any other Security of such series, ratably to  the aggregate of such principal and accrued and unpaid interest; and  FOURTH:  To the payment of the remainder, if any, to the Issuer or any other  Person lawfully entitled thereto.  Section 5.04 Suits for Enforcement.  In case an Event of Default has occurred, has not  been waived and is continuing, the Trustee may in its discretion proceed to protect and enforce  the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee  shall deem most effectual to protect and enforce any such rights, either at law or in equity or in  bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement  contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to  enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.  Section 5.05 Restoration of Rights on Abandonment of Proceedings.  In case the  Trustee shall have proceeded to enforce any right under this Indenture and such proceedings  shall have been discontinued or abandoned for any reason, or shall have been determined  adversely to the Trustee, then and in every such case (subject to any determination in such  proceeding) the Issuer and the Trustee shall be restored respectively to their former positions and  

 

  25  ActiveUS 168294857v.3  rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the  Securityholders shall continue as though no such proceedings had been taken.   Section 5.06 Limitations on Suits by Securityholders.  No Holder of any Security of any  series shall have any right by virtue, or by availing itself, of any provision of this Indenture to  institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under  or with respect to this Indenture, or for the appointment of a trustee, receiver, liquidator,  custodian or other similar official or for any other remedy hereunder, unless such Holder  previously shall have given to the Trustee written notice of default and of the continuance  thereof, as hereinbefore provided, and unless also the Holders of not less than 25% in aggregate  principal amount of the Securities of such series then Outstanding shall have made written  request upon the Trustee to institute such action or proceedings in its own name as trustee  hereunder and shall have offered to the Trustee such reasonable indemnity as it may require  against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60  days after its receipt of such notice, request and offer of indemnity shall have failed to institute  any such action or proceeding and no direction inconsistent with such written request shall have  been given to the Trustee pursuant to Section 5.09; it being understood and intended, and being  expressly covenanted by the Holder of every Security of a particular series with every other  Holder of Securities of such series and the Trustee, that no one or more Holders of Securities of  any series shall have any right in any manner whatever by virtue or by availing of any provision  of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities  of such series, or to obtain or seek to obtain priority over or preference to any other such Holder  of such series or to enforce any right under this Indenture, except in the manner herein provided  and for the equal, ratable and common benefit of all Holders of Securities of the applicable  series.  For the protection and enforcement of the provisions of this Section, each and every  Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in  equity.  Section 5.07 Unconditional Right of Securityholders to Institute Certain Suits.   Notwithstanding any other provision in this Indenture and any provision of any Security, the  right of any Holder of any Security to receive payment of the principal of and interest on such  Security on or after the respective due dates expressed in such Security in accordance with the  terms hereof and thereof, or to institute suit for the enforcement of any such payment on or after  such respective dates, shall not be impaired or affected without the consent of such Holder; it  being understood and intended, and being expressly covenanted by the Holder of every Security  of a particular series with every other Holder of Securities of such Series and the Trustee, that no  one or more Holders of Securities of any series shall have any right in any manner whatever by  virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of  any other such Holder of Securities of such series, or to obtain or seek to obtain priority over or  preference to any other such Holder of Securities of such series or to enforce any right under this  Indenture, except in the manner herein provided and for the equal, ratable and common benefit  of all Holders of Securities of the applicable series.  For the protection and enforcement of the  provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such  relief as can be given either at law or in equity.  Section 5.08 Powers and Remedies Cumulative; Delay or Omission Not Waiver of  Default.  Except as provided in Section 5.06, no right or remedy herein conferred upon or  

 

  26  ActiveUS 168294857v.3  reserved to the Trustee or to the Holders of Securities is intended to be exclusive of any other  right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative  and in addition to every other right and remedy given hereunder or now or hereafter existing at  law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or  otherwise, shall not prevent the concurrent assertion or employment of any other appropriate  right or remedy.  No delay or omission of the Trustee or of any Holder of Securities to exercise any right  or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair  any such right or power or shall be construed to be a waiver of any such Event of Default or an  acquiescence therein; and, subject to Section 5.06, every power and remedy given by this  Indenture or by law to the Trustee or to the Holders of Securities may be exercised from time to  time, and as often as shall be deemed expedient, by the Trustee or by the Holders of Securities.  Section 5.09 Control by Holders of Securities.  The Holders of a majority in aggregate  principal amount of the Securities of each series affected (with each series voting as a separate  class) at the time Outstanding shall have the right to direct the time, method and place of  conducting any proceeding for any remedy available to the Trustee, or exercising any trust or  power conferred on the Trustee with respect to the Securities of such series by this Indenture;  provided, that such direction shall not be otherwise than in accordance with law and the  provisions of this Indenture and provided, further, that (subject to the provisions of Section 6.01)  the Trustee shall have the right to decline to follow any such direction if the Trustee, being  advised by counsel, shall determine that the action or proceeding so directed may not lawfully be  taken or if the Trustee in good faith by its board of directors, the executive committee, or a trust  committee of directors or Responsible Officers of the Trustee shall determine that the action or  proceedings so directed would involve the Trustee in personal liability or if the Trustee in good  faith shall so determine that the actions or forbearances specified in or pursuant to such direction  would be unduly prejudicial to the interests of Holders of the Securities of all series so affected  not joining in the giving of said direction, it being understood that (subject to Section 6.01) the  Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly  prejudicial to such Holders.  Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any  action deemed proper by the Trustee and which is not inconsistent with such direction or  directions by Securityholders.  Section 5.10 Waiver of Past Defaults.  The Holders of a majority in aggregate principal  amount of the Securities of any series at the time Outstanding, by notice to the Trustee, may on  behalf of the Holders of all the Securities of such series waive any existing default in the  performance of any of the covenants contained herein or established pursuant to Section 2.03  with respect to such series and its consequences, except an uncured default in the payment of the  principal of, or interest on, any of the Securities of that series as and when the same shall become  due by the terms of such Securities; and may rescind an acceleration and its consequences,  including any related payment default that resulted from such acceleration.  In the case of any  such waiver, the Issuer, the Trustee and the Holders of the Securities of such series shall be  restored to their former positions and rights hereunder, respectively, such default shall cease to  exist and be deemed to have been cured and not to have occurred, and any Event of Default  

 

  27  ActiveUS 168294857v.3  arising therefrom shall be deemed to have been cured, and not to have occurred for every  purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or  Event of Default or impair any right consequent thereon.  Section 5.11 Trustee to Give Notice of Default.  The Trustee shall, within 90 days after  the occurrence of a default with respect to the Securities of any series, give notice of all defaults  with respect to that series known to the Trustee to all Holders of Securities of such series in the  manner and to the extent provided in Sections 4.03 and 11.04, unless in each case such defaults  shall have been cured before the giving of such notice (the term “defaults” for the purpose of  this Section being hereby defined to mean any event or condition which is, or with notice or  lapse of time or both would become, an Event of Default); provided, that, except in the case of  default in the payment of the principal of or interest on any of the Securities of such series, or in  the payment of any sinking fund installment on such series, the Trustee shall be protected in  withholding such notice if and so long as the board of directors, the executive committee, or a  trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith  determines that the withholding of such notice is in the interests of the Securityholders of such  series.   Section 5.12 Right of Court to Require Filing of Undertaking to Pay Costs.  All parties  to this Indenture agree, and each Holder of any Security by his or her acceptance thereof shall be  deemed to have agreed, that any court may in its discretion require, in any suit for the  enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any  action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an  undertaking to pay the costs of such suit, and that such court may in its discretion assess  reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,  having due regard to the merits and good faith of the claims or defenses made by such party  litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to  any suit instituted by any Securityholder or group of Securityholders of any series holding in the  aggregate more than 10% in aggregate principal amount of the Securities of such series, or to any  suit instituted by any Securityholder for the enforcement of the payment of the principal of or  interest on any Security of such series, on or after the respective due dates expressed in such  Security or established pursuant to this Indenture.  ARTICLE 6  CONCERNING THE TRUSTEE  Section 6.01 Duties and Responsibilities of the Trustee; During Default; Prior to  Default.  With respect to the Holders of any series of Securities issued hereunder, the Trustee,  prior to the occurrence of an Event of Default with respect to the Securities of a particular series  and after the curing or waiving of all Events of Default which may have occurred with respect to  such series, undertakes to perform such duties and only such duties as are specifically set forth in  this Indenture.  In case an Event of Default with respect to the Securities of a series has occurred  (and has not been cured or waived), the Trustee shall exercise such of the rights and powers  vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a  prudent person would exercise or use under the circumstances in the conduct of his or her own  affairs.  

 

  28  ActiveUS 168294857v.3  No provision of this Indenture shall be construed to relieve the Trustee from liability for  its own negligent action, its own negligent failure to act or its own willful misconduct.  Section 6.02 Certain Rights of the Trustee.  In furtherance of and subject to the Trust  Indenture Act of 1939 and subject to Section 6.01:  (a) in the absence of bad faith on the part of the Trustee, the Trustee may  conclusively rely, as to the truth of the statements and the correctness of  the opinions expressed therein, upon any statements, certificates or  opinions furnished to the Trustee and conforming to the requirements of  this Indenture; but, in the case of any such statements, certificates or  opinions which by any provision hereof are specifically required to be  furnished to the Trustee, the Trustee shall be under a duty to examine the  same to determine whether or not they conform to the requirements of this  Indenture;  (b) the Trustee shall not be liable for any error of judgment made in good faith  by a Responsible Officer or Responsible Officers of the Trustee, unless it  shall be proved that the Trustee was negligent in ascertaining the pertinent  facts;  (c) the Trustee shall not be liable with respect to any action taken or omitted  to be taken by it in good faith in accordance with the direction of the  Holders pursuant to Section 5.09 relating to the time, method and place of  conducting any proceeding for any remedy available to the Trustee, or  exercising any trust or power conferred upon the Trustee, under this  Indenture;  (d) none of the provisions contained in this Indenture shall require the Trustee  to expend or risk its own funds or otherwise incur personal financial  liability in the performance of any of its duties or in the exercise of any of  its rights or powers if there shall be reasonable ground for believing that  the repayment of such funds or adequate indemnity against such liability is  not reasonably assured to it;  (e) the Trustee may rely and shall be protected in acting or refraining from  acting upon any resolution, Officer’s Certificate or any other certificate,  statement, instrument, opinion, report, notice, request, consent, order,  bond, debenture, note, security or other paper or document believed by it  to be genuine and to have been signed or presented by the proper party or  parties;  (f) any request, direction, order or demand of the Issuer mentioned herein  shall be sufficiently evidenced by an Officer’s Certificate (unless other  evidence in respect thereof be herein specifically prescribed); and any  resolution of the Board of Directors may be evidenced to the Trustee by a  

 

  29  ActiveUS 168294857v.3  copy thereof certified by the secretary or an assistant secretary of the  Issuer;  (g) the Trustee may consult with counsel and any advice or Opinion of  Counsel shall be full and complete authorization and protection in respect  of any action taken, suffered or omitted to be taken by it hereunder in  good faith and in accordance with such advice or Opinion of Counsel;  (h) the Trustee shall be under no obligation to exercise any of the trusts or  powers vested in it by this Indenture at the request, order or direction of  any of the Securityholders pursuant to the provisions of this Indenture,  unless such Securityholders shall have offered to the Trustee reasonable  security or indemnity against the costs, expenses and liabilities that might  be incurred therein or thereby;  (i) the Trustee shall not be liable for any action taken or omitted by it in good  faith and believed by it to be authorized or within the discretion, rights or  powers conferred upon it by this Indenture;  (j) prior to the occurrence of an Event of Default hereunder and after the  curing or waiving of all Events of Default, the Trustee shall not be bound  to make any investigation into the facts or matters stated in any resolution,  certificate, statement, instrument, opinion, report, notice, request, consent,  order, approval, appraisal, bond, debenture, note, security, or other paper  or document unless requested in writing so to do by the Holders of not less  than a majority in aggregate principal amount of the Securities of all series  affected then Outstanding; provided, that, if the payment within a  reasonable time to the Trustee of the costs, expenses or liabilities likely to  be incurred by it in the making of such investigation is, in the opinion of  the Trustee, not reasonably assured to the Trustee by the security afforded  to it by the terms of this Indenture, the Trustee may require reasonable  indemnity against such expenses or liabilities as a condition to proceeding;  the reasonable expenses of every such investigation shall be paid by the  Issuer or, if paid by the Trustee or any predecessor trustee, shall be repaid  by the Issuer upon demand; and  (k) the Trustee may execute any of the trusts or powers hereunder or perform  any duties hereunder either directly or by or through agents or attorneys  not regularly in its employ and the Trustee shall not be responsible for any  misconduct or negligence on the part of any such agent or attorney  appointed with due care by it hereunder.  Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or  Application of Proceeds Thereof.  The recitals contained herein and in the Securities, except the  Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and the  Trustee assumes no responsibility for the correctness of the same.  The Trustee makes no  representation as to the validity or sufficiency of this Indenture or of the Securities.  The Trustee  

 

  30  ActiveUS 168294857v.3  shall not be accountable for the use or application by the Issuer of any of the Securities or of the  proceeds thereof.  Section 6.04 Trustee and Agents May Hold Securities; Collections, Etc.  The Trustee or  any agent of the Issuer or the Trustee, in its individual or any other capacity, may become the  owner or pledgee of Securities with the same rights it would have if it were not the Trustee or  such agent and may otherwise deal with the Issuer and receive, collect, hold and retain  collections from the Issuer with the same rights it would have if it were not the Trustee or such  agent.  Section 6.05 Moneys Held by Trustee.  Subject to the provisions of Section 10.04  hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held  in trust for the purposes for which they were received, but need not be segregated from other  funds except to the extent required by mandatory provisions of law.  Neither the Trustee nor any  agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received  by it hereunder.  Section 6.06 Compensation and Indemnification of Trustee and Its Prior Claim.  The  Issuer covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be  entitled to, such reasonable compensation (which shall not be limited by any provision of law in  regard to the compensation of a trustee of an express trust) as the Issuer and the Trustee may  from time to time agree in writing and, except as otherwise expressly provided herein, the Issuer  covenants and agrees to pay or reimburse the Trustee and each predecessor trustee upon its  request for all reasonable expenses, disbursements and advances incurred or made by or on  behalf of it in accordance with any of the provisions of this Indenture (including the reasonable  compensation and the expenses and disbursements of its counsel and of all agents and other  persons not regularly in its employ) except any such expense, disbursement or advance as may  arise from its negligence or bad faith.  The Issuer also covenants to indemnify the Trustee and  each predecessor trustee for, and to hold it harmless against, any loss, liability or expense  incurred without negligence or bad faith on its part, arising out of or in connection with the  acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder,  including the costs and expenses of defending itself against or investigating any claim of liability  in the premises.  The obligations of the Issuer under this Section to compensate and indemnify  the Trustee and each predecessor trustee and to pay or reimburse the Trustee and each  predecessor trustee for expenses, disbursements and advances shall constitute additional  indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture.  Such  additional indebtedness shall be a senior claim to that of the Securities upon all property and  funds held or collected by the Trustee as such, except funds held in trust for the benefit of the  Holders of particular Securities, and the Securities are hereby subordinated to such senior claim.  Section 6.07 Right of Trustee to Rely on Officer’s Certificate, Etc.  Subject to Sections  6.01 and 6.02, whenever in the administration of the trusts of this Indenture the Trustee shall  deem it necessary or desirable that a matter be proved or established prior to taking or suffering  or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein  specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee,  be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the  Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee,  

 

  31  ActiveUS 168294857v.3  shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the  provisions of this Indenture upon the faith thereof.  Section 6.08 Disqualification; Conflicting Interests.  If the Trustee has or shall acquire  any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the  Trustee and the Issuer shall in all respects comply with the provisions of Section 310(b) of the  Trust Indenture Act.  Section 6.09 Persons Eligible for Appointment as Trustee.  The Trustee for each series  of Securities hereunder shall at all times be a corporation having a combined capital and surplus  of at least $50,000,000 and shall be eligible in accordance with the provisions of Section 310(a)  of the Trust Indenture Act of 1939.  If such corporation publishes reports of condition at least  annually, pursuant to law or to the requirements of a Federal, State or District of Columbia  supervising or examining authority, then, for the purposes of this Section, the combined capital  and surplus of such corporation shall be deemed to be its combined capital and surplus as set  forth in its most recent report of condition so published.  Section 6.10 Resignation and Removal; Appointment of Successor Trustee.  (a)  The  Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one  or more or all series of Securities by giving written notice of resignation to the Issuer and by  delivering notice of such resignation to the Holders of then Outstanding Securities of each series  affected at their addresses as they shall appear on the Security register.  Upon receiving such  notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with  respect to the applicable series by written instrument in duplicate, executed by authority of the  Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and  one copy to the successor trustee or trustees.  If no successor trustee shall have been so appointed  with respect to any series and have accepted appointment within 30 days after the delivery of  such notice of resignation, the resigning trustee may petition any court of competent jurisdiction  for the appointment of a successor trustee, or any Securityholder who has been a bona fide  Holder of a Security or Securities of the applicable series for at least six months may, on behalf  of himself or herself and all others similarly situated, petition any such court for the appointment  of a successor trustee.  Such court may thereupon, after such notice, if any, as it may deem  proper and prescribe, appoint a successor trustee.  (b) In case at any time any of the following shall occur:  (i) the Trustee shall fail to comply with the provisions of Section  310(b) of the Trust Indenture Act of 1939 with respect to any  series of Securities after written request therefor by the Issuer or by  any Securityholder who has been a bona fide Holder of a Security  or Securities of such series for at least six months; or  (ii) the Trustee shall cease to be eligible in accordance with the  provisions of Section 310(a) of the Trust Indenture Act of 1939  and shall fail to resign after written request therefor by the Issuer  or by any Securityholder; or  

 

  32  ActiveUS 168294857v.3  (iii) the Trustee shall become incapable of acting with respect to any  series of Securities, or shall be adjudged bankrupt or insolvent, or a  receiver or liquidator of the Trustee or of its property shall be  appointed, or any public officer shall take charge or control of the  Trustee or of its property or affairs for the purpose of  rehabilitation, conservation or liquidation;  then, in any such case, (A) the Issuer may remove the Trustee with respect to the  applicable series of Securities and appoint a successor trustee for such series by written  instrument, in duplicate, executed by order of the Board of Directors, one copy of which  instrument shall be delivered to the Trustee so removed and one copy to the successor  trustee, or, (B) subject to Section 315(e) of the Trust Indenture Act of 1939, any  Securityholder who has been a bona fide Holder of a Security or Securities of such series  for at least six months may on behalf of itself and all others similarly situated, petition  any court of competent jurisdiction for the removal of the Trustee and the appointment of  a successor trustee with respect to such series. Such court may thereupon, after such  notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a  successor trustee.  (c) The Holders of a majority in aggregate principal amount of the Securities  of each series at the time Outstanding may at any time remove the Trustee  with respect to Securities of such series and, with the consent of the Issuer,  appoint a successor trustee with respect to the Securities of such series by  delivering to the Trustee so removed, to the successor trustee so appointed  and to the Issuer the evidence provided for in Section 7.01 of the action in  that regard taken by the Securityholders.  (d) Any resignation or removal of the Trustee with respect to any series and  any appointment of a successor trustee with respect to such series pursuant  to any of the provisions of this Section 6.10 shall become effective upon  acceptance of appointment by the successor trustee as provided in Section  6.11.  Section 6.11 Acceptance of Appointment by Successor Trustee.  Any successor trustee  appointed as provided in Section 6.10 shall execute and deliver to the Issuer and to its  predecessor trustee an instrument accepting such appointment hereunder, and thereupon the  resignation or removal of the predecessor trustee with respect to all or any applicable series shall  become effective and such successor trustee, without any further act, deed or conveyance, shall  become vested with all rights, powers, duties and obligations with respect to such series of its  predecessor hereunder, with like effect as if originally named as trustee for such series  hereunder; but, nevertheless, on the written request of the Issuer or of the successor trustee, upon  payment of its charges then unpaid, the trustee ceasing to act shall, subject to Section 10.04, pay  over to the successor trustee all moneys at the time held by it hereunder and shall execute and  deliver an instrument transferring to such successor trustee all such rights, powers, duties and  obligations.  Upon request of any such successor trustee, the Issuer shall execute any and all  instruments in writing for more fully and certainly vesting in and confirming to such successor  trustee all such rights and powers.  Any trustee ceasing to act shall, nevertheless, retain a prior  

 

  33  ActiveUS 168294857v.3  claim upon all property or funds held or collected by such trustee to secure any amounts then due  it pursuant to the provisions of Section 6.06.  If a successor trustee is appointed with respect to the Securities of one or more (but not  all) series, the Issuer, the predecessor trustee and each successor trustee with respect to the  Securities of any applicable series shall execute and deliver an indenture supplemental hereto  which shall contain such provisions as shall be deemed necessary or desirable to confirm that all  the rights, powers, trusts and duties of the predecessor trustee with respect to the Securities of  any series as to which the predecessor trustee is not retiring shall continue to be vested in the  predecessor trustee, and shall add to or change any of the provisions of this Indenture as shall be  necessary to provide for or facilitate the administration of the trusts hereunder by more than one  trustee, it being understood that nothing herein or in such supplemental indenture shall constitute  such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or  trusts under separate indentures.  No successor trustee with respect to any series of Securities shall accept appointment as  provided in this Section 6.11 unless at the time of such acceptance such successor trustee shall be  qualified under the provisions of Section 310(b) of the Trust Indenture Act of 1939 and eligible  under the provisions of Section 310(a) of the Trust Indenture Act of 1939.  Upon acceptance of appointment by any successor trustee as provided in this Section  6.11, the Issuer shall deliver notice thereof to the Holders of Securities of each series affected, by  delivering such notice to such Holders at their addresses as they shall appear on the Security  register.  If the acceptance of appointment is substantially contemporaneous with the resignation,  then the notice called for by the preceding sentence may be combined with the notice called for  by Section 6.10.  If the Issuer fails to deliver such notice within ten days after acceptance of  appointment by the successor trustee, the successor trustee shall cause such notice to be given at  the expense of the Issuer.  Section 6.12 Merger, Conversion, Consolidation or Succession to Business of Trustee.   Any corporation into which the Trustee may be merged or converted or with which it may be  consolidated, or any corporation resulting from any merger, conversion or consolidation to which  the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the  Trustee, shall be the successor of the Trustee hereunder; provided, that such corporation shall be  qualified under the provisions of Section 310(b) of the Trust Indenture Act of 1939 and eligible  under the provisions of Section 310(a) of the Trust Indenture Act of 1939, without the execution  or filing of any paper or any further act on the part of any of the parties hereto, anything herein to  the contrary notwithstanding.  In case, at the time such successor to the Trustee shall succeed to the trusts created by this  Indenture, any of the Securities of any series shall have been authenticated but not delivered, any  such successor to the Trustee may adopt the certificate of authentication of any predecessor  trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities  of any series shall not have been authenticated, any successor to the Trustee may authenticate  such Securities either in the name of any predecessor hereunder or in the name of the successor  trustee; and in all such cases such certificate shall have the full force which it is anywhere in the  Securities of such series or in this Indenture provided that the certificate of the Trustee shall  

 

  34  ActiveUS 168294857v.3  have; provided, that the right to adopt the certificate of authentication of any predecessor trustee  or to authenticate Securities of any series in the name of any predecessor trustee shall apply only  to its successor or successors by merger, conversion or consolidation.  Section 6.13 Preferential Collection of Claims Against the Issuer.  The Trustee shall  comply with Section 311(a) of the Trust Indenture Act of 1939, excluding any creditor  relationship described in Section 311(b) of the Trust Indenture Act of 1939.  A Trustee who has  resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act of 1939 to  the extent included therein.  ARTICLE 7  CONCERNING THE SECURITYHOLDERS  Section 7.01 Evidence of Action Taken by Securityholders.  Any request, demand,  authorization, direction, notice, consent, waiver or other action provided by this Indenture to be  given or taken by a specified percentage in principal amount of the Securityholders of any or all  series may be embodied in and evidenced by one or more instruments of substantially similar  tenor signed by such specified percentage of Securityholders in person or by agent duly  appointed in writing; and, except as herein otherwise expressly provided, such action shall  become effective when such instrument or instruments are delivered to the Trustee.  Proof of  execution of any instrument or of a writing appointing any such agent shall be sufficient for any  purpose of this Indenture and (subject to Sections 6.01 and 6.02) conclusive in favor of the  Trustee and the Issuer, if made in the manner provided in this Article.  Section 7.02 Proof of Execution of Instruments and of Holding of Securities.  Subject to  Sections 6.01 and 6.02, the execution of any instrument by a Holder or his agent or proxy may be  proved in accordance with such reasonable rules and regulations as may be prescribed by the  Trustee or in such manner as shall be satisfactory to the Trustee.  The holding of Securities shall  be proved by the Security register or by a certificate of the registrar thereof.  The Issuer may set a  record date for purposes of determining the identity of Holders of any series entitled to vote or  consent to any action referred to in Section 7.01, which record date may be set at any time or  from time to time by notice to the Trustee, for any date or dates (in the case of any adjournment  or reconsideration) not more than 60 days nor less than five days prior to the proposed date of  such vote or consent, and thereafter, notwithstanding any other provisions hereof, only Holders  of such series of record on such record date shall be entitled to so vote or give such consent or  revoke such vote or consent.  Notice of such record date may be given before or after any request  for any action referred to in Section 7.01 is made by the Issuer.  Section 7.03 Holders to Be Treated as Owners.  The Issuer, the Trustee and any agent  of the Issuer or of the Trustee may deem and treat the Person in whose name any Security shall  be registered upon the Security register for such series as the absolute owner of such Security  (whether or not such Security shall be overdue and notwithstanding any notation of ownership or  other writing thereon) for the purpose of receiving payment of or on account of the principal of,  and, subject to the provisions of this Indenture, interest on, such Security and for all other  purposes; and neither the Issuer nor the Trustee nor any agent of the Issuer or the Trustee shall be  affected by any notice to the contrary.  All such payments so made to any such Person, or upon  

 

  35  ActiveUS 168294857v.3  his or her order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy  and discharge the liability for moneys payable.  Section 7.04 Securities Owned by Issuer Deemed Not Outstanding.  In determining  whether the Holders of the requisite aggregate principal amount of Outstanding Securities of any  or all series have concurred in any direction, consent or waiver under this Indenture, Securities  that are owned by the Issuer or any other obligor on the Securities with respect to which such  determination is being made or by any Person directly or indirectly controlling or controlled by  or under direct or indirect common control with the Issuer or any other obligor on the Securities  with respect to which such determination is being made shall be disregarded and deemed not to  be Outstanding for the purpose of any such determination, except that, for the purpose of  determining whether the Trustee shall be protected in relying on any such direction, consent or  waiver, only Securities which the Trustee knows are so owned shall be so disregarded.   Securities so owned which have been pledged in good faith may be regarded as Outstanding if  the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect  to such Securities and that the pledgee is not the Issuer or any other obligor upon the Securities  or any Person directly or indirectly controlling or controlled by or under direct or indirect  common control with the Issuer or any other obligor on the Securities.  In case of a dispute as to  such right, the advice of counsel shall be full protection in respect of any decision made by the  Trustee in accordance with such advice.  Section 7.05 Right of Revocation of Action Taken.  At any time prior to (but not after)  the evidencing to the Trustee, as provided in Section 7.01, of the taking of any action by the  Holders of the percentage in aggregate principal amount of the Securities of any or all series, as  the case may be, specified in this Indenture in connection with such action, any Holder of a  Security the serial number of which is shown by the evidence to be included among the serial  numbers of the Securities the Holders of which have consented to such action may, by filing  written notice at the Corporate Trust Office and upon proof of holding as provided in this  Article, revoke such action so far as concerns such Security.  Except as aforesaid, any such  action taken by the Holder of any Security shall be conclusive and binding upon such Holder and  upon all future Holders and owners of such Security and of any Securities issued in exchange or  substitution therefor or on registration of transfer thereof, irrespective of whether or not any  notation in regard thereto is made upon any such Security.  Any action taken by the Holders of  the percentage in aggregate principal amount of the Securities of any or all series, as the case  may be, specified in this Indenture in connection with such action shall be conclusively binding  upon the Issuer, the Trustee and the Holders of all the Securities affected by such action.  ARTICLE 8  SUPPLEMENTAL INDENTURES  Section 8.01 Supplemental Indentures Without Consent of Securityholders.  The Issuer,  when authorized by a resolution of its Board of Directors, and the Trustee may from time to time  and at any time, without the consent of any of the Securityholders, enter into an indenture or  indentures supplemental hereto in form satisfactory to the Trustee for one or more of the  following purposes:  

 

  36  ActiveUS 168294857v.3  (a) to convey, transfer, assign, mortgage or pledge to the Trustee as security  for the Securities of one or more series any property or assets;  (b) to evidence the succession of another Person to the Issuer, or successive  successions, and the assumption by such successor of the covenants,  agreements and obligations of the Issuer pursuant to, or to otherwise  comply with, Article 9;  (c) to comply with the requirements of the Commission in order to effect or  maintain the qualification of this Indenture under the Trust Indenture Act  of 1939, as amended;  (d) to add to the covenants of the Issuer such further covenants, restrictions,  conditions or provisions as its Board of Directors and the Trustee shall  consider to be for the protection of the Holders of Securities, and to make  the occurrence, or the occurrence and continuance, of a default in any such  additional covenants, restrictions, conditions or provisions an Event of  Default permitting the enforcement of all or any of the several remedies  provided in this Indenture as herein set forth; provided, that in respect of  any such additional covenant, restriction, condition or provision such  supplemental indenture may provide for a particular period of grace after  default (which period may be shorter or longer than that allowed in the  case of other defaults) or may provide for an immediate enforcement upon  such an Event of Default or may limit the remedies available to the  Trustee upon such an Event of Default or may limit the right of the  Holders of a majority in aggregate principal amount of the Securities of  such series to waive such an Event of Default;  (e) to cure any ambiguity, defect or inconsistency, or to conform this  Indenture or any supplemental indenture to the description of the  Securities set forth in any prospectus, prospectus supplement or offering  memorandum related to such series of Securities;  (f) to provide for or add guarantors for the Securities of one or more series;  (g) to establish the form or terms of Securities of any series as permitted by  Sections 2.01 and 2.03;  (h) to evidence and provide for the acceptance of appointment hereunder by a  successor trustee with respect to the Securities of one or more series and to  add to or change any of the provisions of this Indenture as shall be  necessary to provide for or facilitate the administration of the trusts  hereunder by more than one trustee, pursuant to the requirements of  Section 6.11;  (i) to add to, change or eliminate any of the provisions of this Indenture in  respect of one or more series of Securities; provided that any such  addition, change or elimination shall (A) not (i) apply to any Security of  

 

  37  ActiveUS 168294857v.3  any series created prior to the execution of such supplemental indenture  and entitled to the benefit of such provision nor (ii) modify the rights of  the Holder of any such Security with respect to such provision or (B) shall  become effective only when there is no Security described in clause (A)(i)  Outstanding;  (j) to make any change to the Securities of any series so long as no Securities  of such series are Outstanding; and  (k) to make any other change that does not adversely affect the interests of the  Holders of the Securities in any material respect.  The Trustee shall join with the Issuer in the execution of any such supplemental  indenture, to make any further appropriate agreements and stipulations which may be therein  contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any  property thereunder, but the Trustee shall not be obligated to enter into any such supplemental  indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or  otherwise.  Any supplemental indenture authorized by the provisions of this Section may be executed  without the consent of the Holders of any of the Securities at the time Outstanding,  notwithstanding any of the provisions of Section 8.02.  Section 8.02 Supplemental Indentures With Consent of Securityholders.  With the  consent (evidenced as provided in Article 7) of the Holders of not less than a majority in  aggregate principal amount of the Securities at the time Outstanding of one or more series  affected by such supplemental indenture (voting as separate series), the Issuer, when authorized  by a resolution of the Board of Directors, and the Trustee may, from time to time and at any  time, enter into an indenture or indentures supplemental hereto for the purpose of adding any  provisions to or changing in any manner or eliminating any of the provisions of this Indenture or  of any supplemental indenture or of modifying in any manner the rights of the Holders of the  Securities of each such consenting series; provided, that no such supplemental indenture shall,  without the consent of the Holder of each Security so affected, (a) extend the final maturity of  any Security, or reduce the principal amount thereof, or reduce the rate or extend the time of  payment of interest thereon, or reduce any amount payable on redemption thereof, or make the  principal thereof (including any amount in respect of original issue discount) or interest thereon  payable in any currency other than that provided in the Securities or in accordance with the terms  thereof, or reduce the amount of the principal of an Original Issue Discount Security that would  be due and payable upon an acceleration of the maturity thereof pursuant to Section 5.01 or the  amount thereof provable in bankruptcy pursuant to Section 5.02, or (b) waive a continuing  default in the payment of principal of any Security or interest thereon, other than any such  default in payment that resulted solely from such acceleration, or change a provision related to  the waiver of past defaults or impair the right of any Securityholder to institute suit for the  enforcement of any such payment on or after the Stated Maturity or the date of redemption or  conversion of any Security or, if the Securities provide therefor, any right of repayment at the  option of the Securityholder, or (c) modify any of the provisions of this section except to  increase any required percentage or to provide that certain other provisions cannot be modified  

 

  38  ActiveUS 168294857v.3  or waived without the consent of the Holder of each Security so affected, or (d) make any change  that adversely affects the right to convert or exchange any Security into or for Common Stock or  other securities, cash or other property in accordance with the terms of such Security or (e)  reduce the aforesaid percentage of Securities of any series, the consent of the Holders of which is  required for any such supplemental indenture or the consent of Holders of which is required for  any modification, amendment or waiver of compliance with certain provisions of this Indenture  or certain defaults hereunder and their consequences provided for in this Indenture.   A supplemental indenture which changes or eliminates any covenant, Event of Default or  other provision of this Indenture (1) that has been expressly included solely for the benefit of one  or more particular series of Securities, if any, or (2) which modifies the rights of Holders of  Securities of one or more series with respect to any covenant, Event of Default or provision, shall  be deemed not to affect the rights under this Indenture of the Holders of Securities of any other  series with respect to which such covenant, Event of Default or other provision has not been  included or so modified.  Upon the request of the Issuer, accompanied by a Board Resolution authorizing the  execution of any such supplemental indenture, and upon the filing with the Trustee of evidence  of the consent of Securityholders as aforesaid and other documents, if any, required by Section  7.01, the Trustee shall join with the Issuer in the execution of such supplemental indenture unless  such supplemental indenture affects the Trustee’s own rights, duties or immunities under this  Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated  to, enter into such supplemental indenture.  It shall not be necessary for the consent of the Securityholders under this Section to  approve the particular form of any proposed supplemental indenture, but it shall be sufficient if  such consent shall approve the substance thereof.  Promptly after the execution by the Issuer and the Trustee of any supplemental indenture  pursuant to the provisions of this Section, the Trustee shall give a notice thereof to the Holders of  then Outstanding Securities of each series affected thereby, by delivering a notice thereof, and in  each case such notice shall set forth in general terms the substance of such supplemental  indenture.  Any failure of the Trustee to deliver such notice, or any defect therein, shall not,  however, in any way impair or affect the validity of any such supplemental indenture.  Section 8.03 Effect of Supplemental Indenture.  Upon the execution of any  supplemental indenture pursuant to the provisions hereof, this Indenture shall be and be deemed  to be modified and amended in accordance therewith and the respective rights, limitations of  rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the  Holders of Securities of each series affected thereby shall thereafter be determined, exercised and  enforced hereunder subject in all respects to such modifications and amendments, and all the  terms and conditions of any such supplemental indenture shall be and be deemed to be part of the  terms and conditions of this Indenture for any and all purposes.  Section 8.04 Documents to Be Given to Trustee.  The Trustee, subject to the provisions  of Sections 6.01 and 6.02, may receive an Officer’s Certificate and an Opinion of Counsel as  

 

  39  ActiveUS 168294857v.3  conclusive evidence that any supplemental indenture executed pursuant to this Article 8 complies  with the applicable provisions of this Indenture.  Section 8.05 Notation on Securities in Respect of Supplemental Indentures.  Securities  of any series authenticated and delivered after the execution of any supplemental indenture  pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for  such series as to any matter provided for by such supplemental indenture or as to any action  taken by Securityholders.  If the Issuer or the Trustee shall so determine, new Securities of any  series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any  modification of this Indenture contained in any such supplemental indenture may be prepared by  the Issuer, authenticated by the Trustee and delivered in exchange for the Securities of such  series then Outstanding.  ARTICLE 9  CONSOLIDATION, MERGER, SALE OR CONVEYANCE  Section 9.01 Issuer May Consolidate, Etc., on Certain Terms.  The Issuer shall not  consolidate with or merge into any other Person (in a transaction in which the Issuer is not the  surviving corporation) or convey, transfer or lease its properties and assets substantially as an  entirety to any Person, unless (a) the Person formed by such consolidation or into which the  Issuer is merged or the Person which acquires by conveyance or transfer, or which leases, the  properties and assets of the Issuer substantially as an entirety (i) shall be a corporation, limited  liability company, partnership or trust, (ii) shall be organized and validly existing under the laws  of the United States of America, any State thereof or the District of Columbia and (iii) shall  expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in  form satisfactory to the Trustee, the due and punctual payment of the principal, interest on and  any Additional Amounts with respect to all the Securities and the performance or observance of  every covenant of this Indenture on the part of the Issuer to be performed, by supplemental  indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the  Person formed by such consolidation or into which the Issuer shall have been merged or by the  Person which shall have acquired the Issuer’s assets; (b) immediately after giving effect to such  transaction, no Event of Default, and no event which, after notice or lapse of time or both, would  become an Event of Default, shall have happened and be continuing; and (c) the Issuer has  delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that  such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is  required in connection with such transaction, such supplemental indenture comply with this  Article and that all conditions precedent herein provided for relating to such transaction have  been complied with.  The restrictions in this Section 9.01 shall not apply to (i) the merger or consolidation of  the Issuer with one of its affiliates, if the Board of Directors determines in good faith that the  purpose of such transaction is principally to change the Issuer’s State of incorporation or convert  the Issuer’s form of organization to another form, or (ii) the merger of the Issuer with or into a  single direct or indirect wholly owned Subsidiary.   Section 9.02 Successor Issuer Substituted.  Upon any consolidation of the Issuer with,  or merger of the Issuer into, any other Person or any conveyance, transfer or lease of the  

 

  40  ActiveUS 168294857v.3  properties and assets of the Issuer substantially as an entirety in accordance with Section 9.01,  the successor Person formed by such consolidation or into which the Issuer is merged or to  which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and  may exercise every right and power of, the Issuer under this Indenture with the same effect as if  such successor Person had been named as the Issuer herein, and thereafter, except in the case of a  lease, the predecessor Person shall be relieved of all obligations and covenants under this  Indenture and the Securities.  In case of any such consolidation, merger, sale, lease or conveyance, such changes in  phraseology and form (but not in substance) may be made in the Securities thereafter to be issued  as may be appropriate.  ARTICLE 10  SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED  MONEYS  Section 10.01 Satisfaction and Discharge of Indenture; Defeasance.  (a)  If at any time   (i) the Issuer shall have paid or caused to be paid the principal of and  interest on and any Additional Amounts with respect to all the  Securities of any series Outstanding hereunder (other than  Securities of such series which have been destroyed, lost or stolen  and which have been replaced or paid as provided in Section 2.09)  as and when the same shall have become due and payable, or   (ii) the Issuer shall have delivered to the Trustee for cancellation all  Securities of any series theretofore authenticated (other than any  Securities of such series which shall have been destroyed, lost or  stolen and which shall have been replaced or paid as provided in  Section 2.09); or   (iii) in the case of any series of Securities the exact amount (including  the currency of payment) of principal of and interest and  Additional Amounts due on which on the dates referred to in  clause (B) below can be determined at the time of making the  deposit referred to in such clause,   (A) all the Securities of such series not theretofore delivered to  the Trustee for cancellation shall have become due and  payable, or are by their terms to become due and payable  within one year or are to be called for redemption within  one year in accordance with their terms under arrangements  satisfactory to the Trustee for the giving of notice of  redemption, and   (B) the Issuer shall have irrevocably deposited or caused to be  deposited with the Trustee as trust funds the entire amount  (i) in the case of any series of Securities the payments on  

 

  41  ActiveUS 168294857v.3  which may only be made in Dollars, in Dollars (other than  moneys repaid by the Trustee or any paying agent to the  Issuer in accordance with Section 10.04) and/or U.S.  Government Obligations maturing as to principal and  interest in such amounts and at such times as will insure the  availability of cash in such currency, or (ii) in the case of  any series of Securities the payments on which may only be  made in a Foreign Currency, in such Foreign Currency  (other than moneys repaid by the Trustee or any paying  agent to the Issuer in accordance with Section 10.04) and/or  Foreign Government Obligations maturing as to principal  and interest in such amounts and at such times as will  insure the availability of cash in such currency, in each case  sufficient to pay on any subsequent Interest Payment Date  all interest due on such Interest Payment Date on the  Securities of such series and to pay at maturity or upon  redemption all Securities of such series (in each case other  than any Securities of such series which shall have been  destroyed, lost or stolen and which shall have been replaced  or paid as provided in Section 2.09) not theretofore  delivered to the Trustee for cancellation, including  principal, interest and Additional Amounts due or to  become due to such date of maturity, as the case may be,  and if, in a case described in Section 10.01(a)(iii)(B), the Issuer shall also pay or cause to be paid  all other sums payable hereunder by the Issuer, including amounts due the Trustee pursuant to  Section 6.06, with respect to Securities of such series, then this Indenture shall cease to be of  further effect with respect to Securities of such series (except as to (1) rights of registration of  transfer, conversion and exchange of Securities of such series and the Issuer’s right of optional  redemption, (2) substitution of mutilated, defaced, destroyed, lost or stolen Securities, (3) rights  of Holders of Securities to receive, solely from the trust fund described in Section  10.01(a)(iii)(B), payments of principal thereof and interest thereon, upon the original stated due  dates therefor (but not upon acceleration) and remaining rights of the Holders to receive, solely  from the trust fund described in Section 10.01(a)(iii)(B), sinking fund payments, if any, (4) the  rights (including the Trustee’s rights under Section 10.05) and immunities of the Trustee  hereunder and the Trustee’s obligations under Sections 10.02 and 10.04 and (5) the obligations  of the Issuer under Section 3.02), and the Trustee, on demand of the Issuer accompanied by an  Officer’s Certificate and an Opinion of Counsel which complies with Section 11.05 and at the  cost and expense of the Issuer, shall execute proper instruments acknowledging such satisfaction  of and discharging this Indenture with respect to such series.  The Issuer agrees to reimburse the  Trustee for any costs or expenses thereafter reasonably and properly incurred and to compensate  the Trustee for any services thereafter reasonably and properly rendered by the Trustee in  connection with this Indenture or the Securities of such series.  (b) The following subsection shall apply to the Securities of each series unless  specifically otherwise provided in a Board Resolution, Officer’s  Certificate or indenture supplemental hereto pursuant to Section 2.03.  In  

 

  42  ActiveUS 168294857v.3  addition to the right to discharge of the Indenture pursuant to subsection  (a) above, the Issuer, at its option and at any time, by written notice by an  officer delivered to the Trustee, may elect to have all of its obligations  with respect to all Outstanding Securities of a series discharged (“Legal  Defeasance”), such discharge to be effective on the date that the  conditions set forth in clauses (i) through (iv) and (vi) of Section 10.01(d)  are satisfied, and thereafter the Issuer shall be deemed to have paid and  discharged the entire Debt on all the Securities of such series, and satisfied  all its other obligations under such Securities and this Indenture insofar as  such Securities are concerned and this Indenture shall cease to be of  further effect with respect to Securities of such series (except as to (1)  rights of registration of transfer, conversion and exchange of Securities of  such series, (2) substitution of apparently mutilated, defaced, destroyed,  lost or stolen Securities, (3) rights of Holders of Securities to receive,  solely from the trust fund described in Section 10.01(d)(i), payments of  principal thereof, interest thereon and any Additional Amounts, upon the  original Stated Maturities therefor (but not upon acceleration) and  remaining rights of the Holders to receive, solely from the trust fund  described in Section 10.01(d)(i), sinking fund payments, if any, (4) the  rights (including the Trustee’s rights under Section 10.05) and immunities  of the Trustee hereunder and the Trustee’s obligations with respect to the  Securities of such series under Sections 10.02 and 10.04 and (5) the  obligations of the Issuer under Section 3.02).  (c) The following subsection shall apply to the Securities of each series unless  specifically otherwise provided in a Board Resolution, Officer’s  Certificate or indenture supplemental hereto provided pursuant to Section  2.03.  In addition to the right to discharge of the Indenture pursuant to  subsection (a) and to Legal Defeasance pursuant to subsection (b), above,  the Issuer, at its option and at any time, by written notice executed by an  officer delivered to the Trustee, may elect to have its obligations under  any covenant contained in this Indenture or in the Board Resolution or  supplemental indenture relating to such series pursuant to Section 2.03  discharged with respect to all Outstanding Securities of a series, this  Indenture and any indentures supplemental to this Indenture with respect  to such series (“Covenant Defeasance”), such discharge to be effective on  the date the conditions set forth in clauses (i) through (iii) and (v) through  (vi) of Section 10.01(d) are satisfied, and such Securities shall thereafter  be deemed to be not “Outstanding” for the purposes of any direction,  waiver, consent or declaration of Securityholders (and any consequences  thereof) in connection with such covenants, but shall continue to be  “Outstanding” for all other purposes under this Indenture.  For this  purpose, such Covenant Defeasance means that, with respect to the  Outstanding Securities of a series, the Issuer may omit to comply with and  shall have no liability in respect of any term, condition or limitation set  forth in any such covenant, whether directly or indirectly, by reason of any  reference elsewhere herein to any such covenant or by reason of reference  

 

  43  ActiveUS 168294857v.3  in any such covenant to any other provision herein or in any other  document and such omission to comply shall not constitute an Event of  Default under Section 5.01(c) or otherwise, but except as specified in this  Section 10.01(c), the remainder of the Issuer’s obligations under the  Securities of such series, this Indenture, and any indentures supplemental  to this Indenture with respect to such series shall be unaffected thereby.  (d) The following shall be the conditions to the application of Legal  Defeasance (to the extent set forth in subsection (b)), or Covenant  Defeasance (to the extent set forth in subsection (c)) to the Securities of  the applicable series:  (i) the Issuer irrevocably deposits or causes to be deposited in trust  with the Trustee or, at the option of the Trustee, with a trustee  satisfactory to the Trustee and the Company under the terms of an  irrevocable trust agreement in form and substance satisfactory to  the Trustee, (i) in the case of any series of Securities the payments  on which may only be made in Dollars, Dollars (other than moneys  repaid by the Trustee or any paying agent to the Issuer in  accordance with Section 10.04) and/or U.S. Government  Obligations maturing as to principal and interest in such amounts  and at such times as will insure the availability of cash in such  currency, or (ii) in the case of any series of Securities the payments  on which may only be made in a Foreign Currency, such Foreign  Currency (other than moneys repaid by the Trustee or any paying  agent to the Issuer in accordance with Section 10.04) and/or  Foreign Government Obligations maturing as to principal and  interest in such amounts and at such times as will insure the  availability of cash in such currency, in each case sufficient to pay  on any subsequent Interest Payment Date all interest due on such  Interest Payment Date on the Securities of such series and to pay at  maturity or upon redemption all Securities of such series (in each  case other than any Securities of such series which shall have been  destroyed, lost or stolen and which shall have been replaced or  paid as provided in Section 2.09) not theretofore delivered to the  Trustee for cancellation, including principal, interest and  Additional Amounts due or to become due to such date of  maturity, as the case may be;   (ii) the Issuer delivers to the Trustee an Officer’s Certificate stating  that all conditions precedent specified herein relating to Legal  Defeasance or Covenant Defeasance, as the case may be, have  been complied with, and an Opinion of Counsel to the same effect;  (iii) no Event of Default under subsection (a), (b), (d) or (e) of Section  5.01 shall have occurred and be continuing, and no event which  with notice or lapse of time or both would become such an Event  

 

  44  ActiveUS 168294857v.3  of Default shall have occurred and be continuing, on the date of  such deposit;  (iv) in the event of an election for Legal Defeasance under subsection  (b), the Issuer shall have delivered to the Trustee an Opinion of  Counsel stating that (A) the Issuer has received from, or there has  been published by, the Internal Revenue Service a ruling or  (B) since the date of this instrument, there has been a change in the  applicable Federal income tax law, in either case (A) or (B) to the  effect that, and based thereon such opinion shall confirm that, the  Holders of such Securities will not recognize gain or loss for  Federal income tax purposes as a result of the deposit, defeasance  and discharge to be effected with respect to such Securities and  will be subject to Federal income tax on the same amounts, in the  same manner and at the same times as would be the case if such  deposit, defeasance and discharge were not to occur;  (v) in the event of an election for Covenant Defeasance under  subsection (c), the Issuer shall have delivered to the Trustee an  Opinion of Counsel to the effect that the Holders of such Securities  will not recognize gain or loss for Federal income tax purposes as a  result of the deposit and Covenant Defeasance to be effected with  respect to such Securities and will be subject to Federal income tax  on the same amount, in the same manner and at the same times as  would be the case if such deposit and Covenant Defeasance were  not to occur; and   (vi) notwithstanding any other provisions of this subsection (d), such  defeasance shall be effected in compliance with any additional or  substitute terms, conditions or limitations that may be imposed on  the Issuer pursuant to Section 2.03.  After such irrevocable deposit made pursuant to this Section 10.01(d) and satisfaction of the  other applicable conditions set forth in this subsection (d), the Trustee upon request shall execute  proper instruments acknowledging the discharge of the Issuer’s obligations pursuant to this  Section 10.01.  Section 10.02 Application by Trustee of Funds Deposited for Payment of Securities.   Subject to Section 10.04, all moneys deposited with the Trustee (or other trustee) pursuant to  Section 10.01 shall be held in trust and applied by it to the payment, either directly or through  any paying agent (including the Issuer acting as its own paying agent), to the Holders of the  particular Securities of such series for the payment or redemption of which such moneys have  been deposited with the Trustee, of all sums due and to become due thereon for principal and  interest; but such money need not be segregated from other funds except to the extent required  by law.  

 

  45  ActiveUS 168294857v.3  Section 10.03 Repayment of Moneys Held by Paying Agent.  In connection with the  satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys  then held by any paying agent under the provisions of this Indenture with respect to such series  of Securities shall, upon demand of the Issuer, be repaid to it or paid to the Trustee and  thereupon such paying agent shall be released from all further liability with respect to such  moneys.  Section 10.04 Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two  Years.  Any moneys deposited with or paid to the Trustee or any paying agent for the payment of  the principal of, interest on or additional amounts in respect of any Security of any series and not  applied but remaining unclaimed for two years after the date upon which such principal, interest  or additional amount shall have become due and payable, shall be repaid to the Issuer by the  Trustee for such series or such paying agent, and the Holder of the Securities of such series shall  thereafter look only to the Issuer for any payment which such Holder may be entitled to collect,  and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon  cease.  Section 10.05 Indemnity for U.S. Government Obligations and Foreign Government  Obligations.  The Issuer shall pay and indemnify the Trustee against any tax, fee or other charge  imposed on or assessed against the U.S. Government Obligations or Foreign Government  Obligations deposited pursuant to Section 10.01 or the principal or interest received in respect of  such obligations.  ARTICLE 11  MISCELLANEOUS PROVISIONS  Section 11.01 No Recourse.  No recourse under or upon any obligation, covenant or  agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in  respect thereof, shall be had against any incorporator, stockholder, officer or director, past,  present or future as such, of the Issuer or of any predecessor or successor corporation, either  directly or through the Issuer or any such predecessor or successor corporation, whether by  virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or  penalty or otherwise; it being expressly understood that this Indenture and the obligations issued  hereunder are solely corporate obligations, and that no such personal liability whatever shall  attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as  such, of the Issuer or of any predecessor or successor corporation, or any of them, because of the  creation of the indebtedness hereby authorized, or under or by reason of the obligations,  covenants or agreements contained in this Indenture or in any of the Securities or implied  therefrom; and that any and all such personal liability of every name and nature, either at  common law or in equity or by constitution or statute, of, and any and all such rights and claims  against, every such incorporator, stockholder, officer or director as such, because of the creation  of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or  agreements contained in this Indenture or in any of the Securities or implied therefrom, are  hereby expressly waived and released as a condition of, and as a consideration for, the execution  of this Indenture and the issuance of such Securities.  

 

  46  ActiveUS 168294857v.3  Section 11.02 Provisions of Indenture for the Sole Benefit of Parties and Holders of  Securities.  Nothing in this Indenture or in the Securities, expressed or implied, shall give or be  construed to give to any person, firm or corporation, other than the parties hereto and their  successors and the Holders of the Securities any legal or equitable right, remedy or claim under  this Indenture or under any covenant or provision herein contained, all such covenants and  provisions being for the sole benefit of the parties hereto and their successors and of the Holders  of the Securities.  Section 11.03 Successors and Assigns of Issuer Bound by Indenture.  All the covenants,  stipulations, promises and agreements contained in this Indenture by or on behalf of the Issuer  shall bind its successors and assigns, whether so expressed or not.  Section 11.04 Notices and Demands on Issuer, Trustee and Holders of Securities.  Any  notice or demand which by any provision of this Indenture is required or permitted to be given or  served by the Trustee or by the Holders of Securities to or on the Issuer may be delivered, given  or served by being deposited postage prepaid, first-class mail (except as otherwise specifically  provided herein) addressed (until another address of the Issuer is filed by the Issuer with the  Trustee) to Emergent BioSolutions Inc., 400 Professional Drive, Gaithersburg, Maryland 20879,  Attn: Chief Financial Officer.  Any notice, direction, request or demand by the Issuer or any  Holder of Securities to or upon the Trustee shall be deemed to have been sufficiently given or  made, for all purposes, if given or made at _______, ________, Attn: _______.  Where this Indenture provides for notice to Holders of Securities, such notice shall be  sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first- class postage prepaid, to each Holder entitled thereto, at his, her or its last address as it appears in  the Security register.  In case, by reason of the suspension of or irregularities in regular mail  service, it shall be impracticable to mail notice of any event to Holders of Securities when said  notice is required to be given pursuant to any provision of this Indenture or of the Securities, then  any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a  sufficient giving of such notice.    In case, by reason of the suspension of or irregularities in regular mail service, it shall be  impracticable to mail notice to the Issuer when such notice is required to be given pursuant to  any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to  the Trustee shall be deemed to be a sufficient giving of such notice.  Where this Indenture provides for notice of any event to a Holder of a Global Security,  such notice shall be sufficiently given if given to the Depositary for such Security (or its  designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date,  if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice.  Neither the failure to give notice, nor any defect in any notice so given, to any particular  Holder of a Security shall affect the sufficiency of such notice with respect to other Holders of  Securities given as provided above.  Where this Indenture provides for notice in any manner, such notice may be waived in  writing by the Person entitled to receive such notice either before or after the event, and such  

 

  47  ActiveUS 168294857v.3  waiver shall be the equivalent of such notice.  Waivers of notice by Holders shall be filed with  the Trustee, but such filing shall not be a condition precedent to the validity of any action taken  in reliance upon such waiver.  Section 11.05 Officer’s Certificates and Opinions of Counsel; Statements to Be  Contained Therein.  Upon any application or demand by the Issuer to the Trustee to take any  action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an  Officer’s Certificate stating that all conditions precedent provided for in this Indenture relating to  the proposed action have been complied with and an Opinion of Counsel stating that in the  opinion of such counsel all such conditions precedent have been complied with, except that in  the case of any such application or demand as to which the furnishing of such documents is  specifically required by any provision of this Indenture relating to such particular application or  demand, no additional certificate or opinion need be furnished.  Each certificate or opinion provided for in this Indenture and delivered to the Trustee  with respect to compliance with a condition or covenant provided for in this Indenture shall  include (a) a statement that the person making such certificate or opinion has read such covenant  or condition, (b) a brief statement as to the nature and scope of the examination or investigation  upon which the statements or opinions contained in such certificate or opinion are based, (c) a  statement that, in the opinion of such person, he or she has made such examination or  investigation as is necessary to enable him or her to express an informed opinion as to whether or  not such covenant or condition has been complied with and (d) a statement as to whether or not,  in the opinion of such person, such condition or covenant has been complied with.   Any certificate, statement or opinion of an officer of the Issuer may be based, insofar as it  relates to legal matters, upon a certificate or opinion of or representations by counsel, unless such  officer knows that the certificate or opinion or representations with respect to the matters upon  which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in  the exercise of reasonable care should know that the same are erroneous.  Any certificate,  statement or opinion of counsel may be based, insofar as it relates to factual matters, information  with respect to which is in the possession of the Issuer, upon the certificate, statement or opinion  of or representations by an officer or officers of the Issuer, unless such counsel knows that the  certificate, statement or opinion or representations with respect to the matters upon which his or  her certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise  of reasonable care should know that the same are erroneous.  Any certificate, statement or opinion of an officer of the Issuer or of counsel may be  based, insofar as it relates to accounting matters, upon a certificate or opinion of or  representations by an accountant or firm of accountants in the employ of the Issuer, unless such  officer or counsel, as the case may be, knows that the certificate or opinion or representations  with respect to the accounting matters upon which his or her certificate, statement or opinion  may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that  the same are erroneous.  Any certificate or opinion of any independent firm of public accountants filed with and  directed to the Trustee shall contain a statement that such firm is independent.  

 

  48  ActiveUS 168294857v.3  Section 11.06 Payments Due on Saturdays, Sundays and Holidays.  If the date of  maturity of interest on or principal of the Securities of any series or the date fixed for redemption  or repayment of any such Security, or the last day on which a Holder has the right to convert any  Security, shall not be a Business Day, then payment of interest or principal, or any conversion,  need not be made on such date, but may be made on the next succeeding Business Day with the  same force and effect as if made on the date of maturity or the date fixed for redemption or on  such last day for conversion, and no interest shall accrue for the period after such date.  Section 11.07 Conflict of Any Provision of Indenture With Trust Indenture Act of 1939.   If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another  provision included in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust  Indenture Act of 1939, such incorporated provision shall control.  Section 11.08 New York Law to Govern.  This Indenture and each Security shall be  deemed to be a contract under the laws of the State of New York, and for all purposes shall be  governed by and construed in accordance with the laws of such State without regard to any  principle of conflict of laws that would require or permit the application of the laws of any other  jurisdiction, except as may otherwise be required by mandatory provisions of law.  Section 11.09 Counterparts.  This Indenture may be executed in any number of  counterparts, each of which shall be an original; but such counterparts shall together constitute  but one and the same instrument.  Section 11.10 Effect of Headings.  The Article and Section headings herein and the Table  of Contents are for convenience only and shall not affect the construction hereof.  Section 11.11 Actions by Successor.  Any act or proceeding by any provision of this  Indenture authorized or required to be done or performed by any board of directors or its  equivalent, committee or officer of the Issuer shall and may be done and performed with like  force and effect by the corresponding board, committee or officer of any corporation that shall at  the time be the lawful successor of the Issuer.  Section 11.12 Severability.  In case any one or more of the provisions contained in this  Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or  unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any  other provisions of this Indenture or of such Securities, but this Indenture and such Securities  shall be construed as if such invalid or illegal or unenforceable provision had never been  contained herein or therein.  ARTICLE 12  REDEMPTION OF SECURITIES AND SINKING FUNDS  Section 12.01 Applicability of Article.  The provisions of this Article shall be applicable  to the Securities of any series which are redeemable before their maturity or to any sinking fund  for the retirement of Securities of a series, except as otherwise specified, as contemplated by  Section 2.03 for Securities of such series.  

 

  49  ActiveUS 168294857v.3  Section 12.02 Notice of Redemption; Partial Redemptions.  Notice of redemption to the  Holders of Securities of any series to be redeemed as a whole or in part at the option of the Issuer  shall be given by providing notice of such redemption at least 30 days and not more than 60 days  prior to the date fixed for redemption to such Holders of Securities of such series at their last  addresses as they shall appear upon the Security register.  Any notice which is given in the  manner herein provided shall be conclusively presumed to have been duly given, whether or not  the Holder receives the notice.  Failure to give notice or any defect in the notice to the Holder of  any Security of a series designated for redemption as a whole or in part shall not affect the  validity of the proceedings for the redemption of any other Security of such series.  The notice of redemption to each such Holder shall specify the principal amount of each  Security of such series held by such Holder to be redeemed, the date fixed for redemption, the  redemption price, the place or places of payment, that payment will be made upon presentation  and surrender of such Securities, that such redemption is pursuant to the mandatory or optional  sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption  will be paid as specified in such notice and that on and after said date interest thereon or on the  portions thereof to be redeemed will cease to accrue and shall also specify, if applicable, the  conversion price then in effect and the date on which the right to convert such Securities or the  portions thereof to be redeemed will expire.  In case any Security of a series is to be redeemed in  part only, the notice of redemption shall state the portion of the principal amount thereof to be  redeemed and shall state that on and after the date fixed for redemption, upon surrender of such  Security, a new Security or Securities of such series in principal amount equal to the unredeemed  portion thereof will be issued.  The notice of redemption of Securities of any series to be redeemed at the option of the  Issuer shall be given by the Issuer or, at the Issuer’s request, by the Trustee in the name and at  the expense of the Issuer.  On or before the redemption date specified in the notice of redemption given as provided  in this Section, the Issuer will deposit with the Trustee or with one or more paying agents (or, if  the Issuer is acting as its own paying agent, set aside, segregate and hold in trust as provided in  Section 3.04) an amount of money sufficient to redeem on the redemption date all the Securities  of such series so called for redemption (other than those Securities theretofore surrendered for  conversion into Common Stock in accordance with their terms) at the appropriate redemption  price, together with accrued interest to the date fixed for redemption.  If any Security called for  redemption is converted pursuant hereto and in accordance with the terms thereof, any money  deposited with the Trustee or any paying agent or so segregated and held in trust for the  redemption of such Security shall be paid to the Issuer upon the Issuer’s request, or, if then held  by the Issuer, shall be discharged from such trust.  The Issuer will deliver to the Trustee at least  10 days prior to the date the notice required to be delivered to the Holders is to be sent (unless a  shorter time period shall be acceptable to the Trustee) an Officer’s Certificate (which need not  comply with Section 11.05) stating the aggregate principal amount of Securities to be redeemed.   In case of a redemption at the election of the Issuer prior to the expiration of any restriction on  such redemption, the Issuer shall deliver to the Trustee, prior to the giving of any notice of  redemption to Holders pursuant to this Section, an Officer’s Certificate stating that such  restriction has been complied with.   

 

  50  ActiveUS 168294857v.3  If less than all the Securities of a series are to be redeemed, the Trustee shall select, in  such manner as it shall deem appropriate and fair, Securities of such series to be redeemed in  whole or in part.  Securities may be redeemed in part in multiples equal to the minimum  authorized denomination for Securities of such series or any multiple thereof.  The Trustee shall  promptly notify the Issuer in writing of the Securities of such series selected for redemption and,  in the case of any Securities of such series selected for partial redemption, the principal amount  thereof to be redeemed.  For all purposes of this Indenture, unless the context otherwise requires,  all provisions relating to the redemption of Securities of any series shall relate, in the case of any  Security redeemed or to be redeemed only in part, to the portion of the principal amount of such  Security which has been or is to be redeemed.  If any Security selected for partial redemption is  surrendered for conversion after such selection, the converted portion of such Security shall be  deemed (so far as may be possible) to be the portion selected for redemption.  Section 12.03 Payment of Securities Called for Redemption.  If notice of redemption has  been given as above provided, the Securities or portions of Securities specified in such notice  shall become due and payable on the date and at the place stated in such notice at the applicable  redemption price, together with interest accrued to the date fixed for redemption, and on and  after said date (unless the Issuer shall default in the payment of such Securities at the redemption  price, together with interest accrued to said date) interest on the Securities or portions of  Securities so called for redemption shall cease to accrue, and such Securities shall cease from  and after the date fixed for redemption to be convertible into Common Stock (to the extent  otherwise convertible in accordance with their terms), if applicable, and cease to be entitled to  any benefit or security under this Indenture, and except as provided in the paragraph below, the  Holders thereof shall have no right in respect of such Securities except the right to receive the  redemption price thereof and unpaid interest to the date fixed for redemption.  On presentation  and surrender of such Securities at a place of payment specified in said notice, said Securities or  the specified portions thereof shall be paid and redeemed by the Issuer at the applicable  redemption price, together with interest accrued thereon to the date fixed for redemption;  provided, that payment of interest becoming due on or prior to the date fixed for redemption  shall be payable to the Holders of such Securities registered as such on the relevant record date  subject to the terms and provisions of Sections 2.03 and 2.07 hereof.  If any Security called for redemption shall not be so paid upon surrender thereof for  redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed  for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue  Discount Security) borne by such Security and, if applicable, such Security shall remain  convertible into Common Stock until the principal of such Security shall have been paid or duly  provided for.  Upon presentation of any Security redeemed in part only, the Issuer shall execute and the  Trustee shall authenticate and deliver to or on the order of the Holder thereof, at the expense of  the Issuer, a new Security or Securities of such series, of authorized denominations, in principal  amount equal to the unredeemed portion of the Security so presented.  Section 12.04 Exclusion of Certain Securities from Eligibility for Selection for  Redemption.  Securities shall be excluded from eligibility for selection for redemption if they are  identified by registration and certificate number in an Officer’s Certificate delivered to the  

 

  51  ActiveUS 168294857v.3  Trustee at least 40 days prior to the last date on which notice of redemption may be given as  being owned of record and beneficially by, and not pledged or hypothecated by either (a) the  Issuer or (b) an entity specifically identified in such written statement as directly or indirectly  controlling or controlled by or under direct or indirect common control with the Issuer.  Section 12.05 Mandatory and Optional Sinking Funds.  The minimum amount of any  sinking fund payment provided for by the terms of the Securities of any series is herein referred  to as a “mandatory sinking fund payment”, and any payment in excess of such minimum  amount provided for by the terms of the Securities of any series is herein referred to as an  “optional sinking fund payment”.  The date on which a sinking fund payment is to be made is  herein referred to as the “sinking fund payment date”.  In lieu of making all or any part of any mandatory sinking fund payment with respect to  any series of Securities in cash, the Issuer may at its option (a) deliver to the Trustee Securities  of such series theretofore purchased or otherwise acquired (except upon redemption pursuant to  the mandatory sinking fund) by the Issuer or receive credit for Securities of such series (not  previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the  Issuer and delivered to the Trustee for cancellation pursuant to Section 2.10 and, if applicable,  receive credit for Securities (not previously so credited) converted into Common Stock and so  delivered to the Trustee for cancellation, (b) receive credit for optional sinking fund payments  (not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of  such series (not previously so credited) redeemed by the Issuer through any optional redemption  provision contained in the terms of such series.  Securities so delivered or credited shall be  received or credited by the Trustee at the sinking fund redemption price specified in such  Securities.  On or before the 60th day next preceding each sinking fund payment date for any series,  the Issuer will deliver to the Trustee an Officer’s Certificate (which need not contain the  statements required by Section 11.05) (a) specifying the portion of the mandatory sinking fund  payment to be satisfied by payment of cash and the portion to be satisfied by credit of Securities  of such series and the basis for such credit, (b) stating that none of the Securities of such series  for which credit will be taken has theretofore been so credited, (c) stating that no defaults in the  payment of interest or Events of Default with respect to such series have occurred (which have  not been waived or cured) and are continuing and (d) stating whether or not the Issuer intends to  exercise its right to make an optional sinking fund payment with respect to such series and, if so,  specifying the amount of such optional sinking fund payment which the Issuer intends to pay on  or before the next succeeding sinking fund payment date.  Any Securities of such series to be  credited and required to be delivered to the Trustee in order for the Issuer to be entitled to credit  therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered  for cancellation pursuant to Section 2.10 to the Trustee with such Officer’s Certificate (or  reasonably promptly thereafter if acceptable to the Trustee).  Such Officer’s Certificate shall be  irrevocable and upon its receipt by the Trustee the Issuer shall become unconditionally obligated  to make all the cash payments or payments therein referred to, if any, on or before the next  succeeding sinking fund payment date.  Failure of the Issuer, on or before any such 60th day, to  deliver such Officer’s Certificate and Securities specified in this paragraph, if any, shall not  constitute a default but shall constitute, on and as of such date, the irrevocable election of the  Issuer that the mandatory sinking fund payment for such series due on the next succeeding  

 

  52  ActiveUS 168294857v.3  sinking fund payment date shall be paid entirely in cash without the option to deliver or credit  Securities of such series in respect thereof.  If the sinking fund payment or payments (mandatory or optional or both) to be made in  cash on the next succeeding sinking fund payment date plus any unused balance of any  preceding sinking fund payments made in cash shall exceed $50,000 (or the equivalent thereof in  any Foreign Currency or a lesser sum in Dollars or in any Foreign Currency if the Issuer shall so  request) with respect to the Securities of any particular series, such cash shall be applied on the  next succeeding sinking fund payment date to the redemption of Securities of such series at the  sinking fund redemption price together with accrued interest to the date fixed for redemption.  If  such amount shall be $50,000 (or the equivalent thereof in any Foreign Currency) or less and the  Issuer makes no such request then it shall be carried over until a sum in excess of $50,000 (or the  equivalent thereof in any Foreign Currency) is available, which delay in accordance with this  paragraph shall not be a default or breach of the obligation to make such payment.  The Trustee  shall select, in the manner provided in Section 12.02, for redemption on such sinking fund  payment date a sufficient principal amount of Securities of such series to which such cash may  be applied, as nearly as may be, and shall (if requested in writing by the Issuer) inform the Issuer  of the serial numbers of the Securities of such series (or portions thereof) so selected.  The  Trustee, in the name and at the expense of the Issuer (or the Issuer, if it shall so request the  Trustee in writing), shall cause notice of redemption of the Securities of such series to be given  in substantially the manner provided in Section 12.02 (and with the effect provided in Section  12.03) for the redemption of Securities of such series in part at the option of the Issuer.  The  amount of any sinking fund payments not so applied or allocated to the redemption of Securities  of such series shall be added to the next cash sinking fund payment for such series and, together  with such payment, shall be applied in accordance with the provisions of this Section.  Any and  all sinking fund moneys held on the stated maturity date of the Securities of any particular series  (or earlier, if such maturity is accelerated), which are not held for the payment or redemption of  particular Securities of such series, shall be applied, together with other moneys, if necessary,  sufficient for the purpose, to the payment of the principal of, and interest on, the Securities of  such series at maturity.  The Issuer’s obligation to make a mandatory or optional sinking fund  payment shall automatically be reduced by an amount equal to the sinking fund redemption price  allocable to any Securities or portions thereof called for redemption pursuant to the preceding  paragraph on any sinking fund payment date and converted into Common Stock in accordance  with the terms of such Securities; provided that, if the Trustee is not the conversion agent for the  Securities, the Issuer or such conversion agent shall give the Trustee written notice on or prior to  the date fixed for redemption of the principal amount of Securities or portions thereof so  converted.  On or before each sinking fund payment date, the Issuer shall pay to the Trustee in cash  or shall otherwise provide for the payment of all interest accrued to the date fixed for redemption  on Securities to be redeemed on such sinking fund payment date.  The Trustee shall not redeem or cause to be redeemed any Securities of a series with  sinking fund moneys or give any notice of redemption of Securities for such series by operation  of the sinking fund during the continuance of a default in payment of interest on such Securities  or of any Event of Default except that, where providing notice of redemption of any Securities  shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such  

 

  53  ActiveUS 168294857v.3  Securities, provided that it shall have received from the Issuer a sum sufficient for such  redemption.  Except as aforesaid, any moneys in the sinking fund for such series at the time  when any such default or Event of Default shall occur, and any moneys thereafter paid into the  sinking fund, shall, during the continuance of such default or Event of Default, be deemed to  have been collected under Article 5 and held for the payment of all such Securities.  In case such  Event of Default shall have been waived as provided in Section 5.10, or the default cured on or  before the 60th day preceding the sinking fund payment date in any year, such moneys shall  thereafter be applied on such sinking fund payment date in accordance with this Section to the  redemption of such Securities.    [Signature pages follow] 

 

  ActiveUS 168294857v.3  IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as  of _____________.  EMERGENT BIOSOLUTIONS INC.  By:    Name:  Title:  Attest:  By:    Name:  Title:      ____________, Trustee  By:    Name:  Title:exhibit43emergentbiosolu

Exhibit 4.3  ActiveUS 168294812v.5   EMERGENT BIOSOLUTIONS INC.  and  _______________  Trustee  INDENTURE  Dated as of _______________  SUBORDINATED DEBT SECURITIES 

 

  ActiveUS 168294812v.5  CROSS-REFERENCE TABLE 1    Section of Trust Indenture Act  of 1939, as amended   Section of   Indenture  310(a) .....................................................................................................................  6.09  310(b) .....................................................................................................................  6.08  6.10  310(c) .....................................................................................................................  Inapplicable  311(a) .....................................................................................................................  6.13  311(b) .....................................................................................................................  6.13  311(c) .....................................................................................................................  Inapplicable  312(a) .....................................................................................................................  4.01  4.04  312(b) .....................................................................................................................  4.04(c)  312(c) .....................................................................................................................  4.04(c)  313(a) .....................................................................................................................  4.03  313(b) .....................................................................................................................  4.03  313(c) .....................................................................................................................  4.03  313(d) .....................................................................................................................  4.03  314(a) .....................................................................................................................  4.02  314(b) .....................................................................................................................  Inapplicable  314(c) .....................................................................................................................  2.04  8.04  9.01(c)  10.01(b)  11.05  314(d) .....................................................................................................................  Inapplicable  314(e) .....................................................................................................................  11.05  314(f)......................................................................................................................  Inapplicable  315(a) .....................................................................................................................  6.01  6.02  315(b) .....................................................................................................................  5.11  315(c) .....................................................................................................................  6.01  315(d) .....................................................................................................................  6.01   6.02  315(e) .....................................................................................................................  5.12  316(a) .....................................................................................................................  5.09  5.10  7.04  316(b) .....................................................................................................................  5.06  5.10  316(c) .....................................................................................................................  7.02  317(a) .....................................................................................................................  5.04  317(b) .....................................................................................................................  3.04  318(a) .....................................................................................................................  11.07    1 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the  interpretation of any of its terms or provisions.  

 

  -i-  ActiveUS 168294812v.5  TABLE OF CONTENTS  Page  ARTICLE 1 DEFINITIONS .........................................................................................................1  Section 1.01 Certain Terms Defined .......................................................................................1  ARTICLE 2 SECURITIES ...........................................................................................................7  Section 2.01 Forms Generally.................................................................................................7  Section 2.02 Form of Trustee’s Certificate of Authentication ................................................7  Section 2.03 Amount Unlimited; Issuable in Series ...............................................................8  Section 2.04 Authentication and Delivery of Securities .......................................................10  Section 2.05 Execution of Securities ....................................................................................11  Section 2.06 Certificate of Authentication............................................................................12  Section 2.07 Denomination and Date of Securities; Payments of Interest ...........................12  Section 2.08 Registration, Transfer and Exchange ...............................................................13  Section 2.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities ............................15  Section 2.10 Cancellation of Securities; Destruction Thereof ..............................................16  Section 2.11 Temporary Securities .......................................................................................16  Section 2.12    CUSIP Numbers........................................................................16  ARTICLE 3 COVENANTS OF THE ISSUER ..........................................................................17  Section 3.01 Payment of Principal and Interest ....................................................................17  Section 3.02 Offices for Payments, Etc ................................................................................17  Section 3.03 Appointment to Fill a Vacancy in Office of Trustee .......................................17  Section 3.04 Paying Agents ..................................................................................................18  Section 3.05 Written Statement to Trustee ...........................................................................18  ARTICLE 4 SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND  THE TRUSTEE .....................................................................................................19  Section 4.01 Issuer to Furnish Trustee Information as to Names and Addresses of  Securityholders ................................................................................................19  Section 4.02 Reports by the Issuer ........................................................................................19  Section 4.03 Reports by the Trustee .....................................................................................19  Section 4.04 Preservation of Information; Communication with Securityholders ...............19  ARTICLE 5 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT  OF DEFAULT .......................................................................................................19  Section 5.01 Event of Default Defined; Acceleration of Maturity; Waiver of Default ........20  Section 5.02 Collection of Debt by Trustee; Trustee May Prove Debt ................................21  Section 5.03 Application of Proceeds ...................................................................................23  Section 5.04 Suits for Enforcement ......................................................................................24  Section 5.05 Restoration of Rights on Abandonment of Proceedings ..................................24  Section 5.06 Limitations on Suits by Securityholders ..........................................................25  Section 5.07 Unconditional Right of Securityholders to Institute Certain Suits ..................25  Section 5.08 Powers and Remedies Cumulative; Delay or Omission Not   Waiver of Default ............................................................................................25  

 

    ActiveUS 168294812v.5  Section 5.09 Control by Holders of Securities......................................................................26  Section 5.10 Waiver of Past Defaults ...................................................................................26  Section 5.11 Trustee to Give Notice of Default ....................................................................27  Section 5.12 Right of Court to Require Filing of Undertaking to Pay Costs ........................27  ARTICLE 6 CONCERNING THE TRUSTEE ..........................................................................27  Section 6.01 Duties and Responsibilities of the Trustee; During Default;   Prior to Default ................................................................................................27  Section 6.02 Certain Rights of the Trustee ...........................................................................28  Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or   Application of Proceeds Thereof .....................................................................29  Section 6.04 Trustee and Agents May Hold Securities; Collections, Etc .............................29  Section 6.05 Moneys Held by Trustee ..................................................................................29  Section 6.06 Compensation and Indemnification of Trustee and Its Prior Claim ................30  Section 6.07 Right of Trustee to Rely on Officer’s Certificate, Etc .....................................30  Section 6.08 Disqualification; Conflicting Interests .............................................................30  Section 6.09 Persons Eligible for Appointment as Trustee ..................................................30  Section 6.10 Resignation and Removal; Appointment of Successor Trustee .......................31  Section 6.11 Acceptance of Appointment by Successor Trustee .........................................32  Section 6.12 Merger, Conversion, Consolidation or Succession to Business of Trustee .....33  Section 6.13 Preferential Collection of Claims Against the Issuer .......................................33  ARTICLE 7 CONCERNING THE SECURITYHOLDERS......................................................33  Section 7.01 Evidence of Action Taken by Securityholders ................................................33  Section 7.02 Proof of Execution of Instruments and of Holding of Securities.....................34  Section 7.03 Holders to Be Treated as Owners ....................................................................34  Section 7.04 Securities Owned by Issuer Deemed Not Outstanding ....................................34  Section 7.05 Right of Revocation of Action Taken ..............................................................35  ARTICLE 8 SUPPLEMENTAL INDENTURES ......................................................................35  Section 8.01 Supplemental Indentures Without Consent of Securityholders .......................35  Section 8.02 Supplemental Indentures With Consent of Securityholders ............................36  Section 8.03 Effect of Supplemental Indenture ....................................................................38  Section 8.04 Documents to Be Given to Trustee ..................................................................38  Section 8.05 Notation on Securities in Respect of Supplemental Indentures .......................38  ARTICLE 9 CONSOLIDATION, MERGER, SALE OR CONVEYANCE .............................38  Section 9.01 Issuer May Consolidate, Etc., on Certain Terms .............................................38  Section 9.02 Successor Issuer Substituted ............................................................................39  ARTICLE 10 SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE;  UNCLAIMED MONEYS ......................................................................................39  Section 10.01 Satisfaction and Discharge of Indenture; Defeasance .....................................39  Section 10.02 Application by Trustee of Funds Deposited for Payment of Securities...........43  Section 10.03 Repayment of Moneys Held by Paying Agent ................................................43  Section 10.04 Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two  Years ................................................................................................................43  

 

    ActiveUS 168294812v.5  Section 10.05 Indemnity for U.S. Government Obligations and Foreign Government  Obligations .......................................................................................................44  ARTICLE 11 MISCELLANEOUS PROVISIONS ......................................................................44  Section 11.01 No Recourse .....................................................................................................44  Section 11.02 Provisions of Indenture for the Sole Benefit of Parties and Holders of  Securities ..........................................................................................................44  Section 11.03 Successors and Assigns of Issuer Bound by Indenture ....................................44  Section 11.04 Notices and Demands on Issuer, Trustee and Holders of Securities ...............44  Section 11.05 Officer’s Certificates and Opinions of Counsel; Statements to Be Contained  Therein .............................................................................................................45  Section 11.06 Payments Due on Saturdays, Sundays and Holidays .......................................46  Section 11.07 Conflict of Any Provision of Indenture With Trust Indenture Act of 1939 ....46  Section 11.08 New York Law to Govern................................................................................47  Section 11.09 Counterparts .....................................................................................................47  Section 11.10 Effect of Headings ...........................................................................................47  Section 11.11 Actions by Successor .......................................................................................47  Section 11.12 Severability ......................................................................................................47  ARTICLE 12 REDEMPTION OF SECURITIES AND SINKING FUNDS ...............................47  Section 12.01 Applicability of Article ....................................................................................47  Section 12.02 Notice of Redemption; Partial Redemptions ...................................................47  Section 12.03 Payment of Securities Called for Redemption .................................................49  Section 12.04 Exclusion of Certain Securities from Eligibility for Selection   for Redemption ................................................................................................49  Section 12.05 Mandatory and Optional Sinking Funds ..........................................................49  ARTICLE 13 SUBORDINATION OF SECURITIES .................................................................51  Section 13.01 Agreement of Subordination ............................................................................52  Section 13.02 Payments to Securityholders ............................................................................52  Section 13.03 Subrogation of Securities .................................................................................53  Section 13.04 Authorization by Securityholders ....................................................................54  Section 13.05 Notice to Trustee ..............................................................................................54  Section 13.06 Trustee’s Relation to Senior Indebtedness .......................................................55  Section 13.07 No Impairment of Subordination .....................................................................55  Section 13.08 Rights of Trustee ..............................................................................................55    

 

  ActiveUS 168294812v.5  THIS INDENTURE, dated as of _________ between Emergent BioSolutions Inc., a  Delaware corporation (the “Issuer”), and ________, a _______ (the “Trustee”),  W I T N E S S E T H:  WHEREAS, the Issuer may from time to time duly authorize the issue of its unsecured  subordinated debentures, notes or other evidences of indebtedness to be issued in one or more  series (the “Securities”) up to such principal amount or amounts as may from time to time be  authorized in accordance with the terms of this Indenture;  WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to  provide, among other things, for the authentication, delivery and administration of the Securities;  and  WHEREAS, all things necessary to make this Indenture a valid indenture and agreement  according to its terms have been done;  NOW, THEREFORE:  In consideration of the premises and the purchases of the Securities by the holders  thereof, the Issuer and the Trustee mutually covenant and agree for the equal and proportionate  benefit of the respective holders from time to time of the Securities as follows:  ARTICLE 1  DEFINITIONS  Section 1.01 Certain Terms Defined.  The following terms (except as otherwise  expressly provided or unless the context otherwise clearly requires) for all purposes of this  Indenture and of any indenture supplemental hereto shall have the respective meanings specified  in this Section.  All other terms used in this Indenture that are defined in the Trust Indenture Act  of 1939 or the definitions of which in the Securities Act of 1933, as amended, are referred to in  the Trust Indenture Act of 1939, including terms defined therein by reference to the Securities  Act of 1933, as amended (except as herein otherwise expressly provided or unless the context  otherwise clearly requires), shall have the meanings assigned to such terms in said Trust  Indenture Act and in said Securities Act of 1933, as amended, as in force at the date of this  Indenture.  All accounting terms used herein and not expressly defined shall have the meanings  assigned to such terms in accordance with generally accepted accounting principles, and the term  “generally accepted accounting principles” means such accounting principles as are generally  accepted in the United States at the time of any computation.  The words “herein”, “hereof” and  “hereunder” and other words of similar import refer to this Indenture as a whole and not to any  particular Article, Section or other subdivision.  The terms defined in this Article have the  meanings assigned to them in this Article and include the plural as well as the singular.  “Additional Amounts” means any additional amounts that are required by this Indenture  or by any Security, under circumstances specified herein or therein, to be paid by the Issuer in  respect of certain taxes, assessments or other governmental charges imposed on Holders  specified therein and which are owing to such Holders.  

 

  -2-  ActiveUS 168294812v.5  “Applicable Procedures” means, with respect to a Depositary, as to any matter at any  time, the policies and procedures of such Depositary, if any, that are applicable to such matter at  such time.  “Board of Directors” means either the Board of Directors of the Issuer or any committee  of such Board duly authorized to act on its behalf.  “Board Resolution” means a copy of one or more resolutions, certified by the secretary  or an assistant secretary of the Issuer to have been duly adopted by the Board of Directors and to  be in full force and effect, and delivered to the Trustee.  “Business Day” means, with respect to any Security, a day that in the city (or in any of  the cities, if more than one) in which amounts are payable, as specified in the form of such  Security, is not a day on which banking institutions are authorized or required by law or  regulation to close.  “Capital Stock” means (a) in the case of a corporation, corporate stock; (b) in the case of  an association or business entity, any and all shares, interests, participations, rights or other  equivalents (however designated) of corporate stock; (c) in the case of a partnership or limited  liability company, partnership interests (whether general or limited) or membership interests; and  (d) any other interest or participation that confers on a Person the right to receive a share of the  profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of  the foregoing any Debt securities convertible into Capital Stock, whether or not such Debt  securities include any right of participation with Capital Stock.  “Commission” means the Securities and Exchange Commission, as from time to time  constituted, created under the Securities Exchange Act of 1934, as amended, or if at any time  after the execution and delivery of this Indenture such Commission is not existing and  performing the duties now assigned to it under the Trust Indenture Act of 1939, then the body  performing such duties on such date.  “Common Stock” means shares of common stock, par value $0.001 per share, of the  Issuer as the same exists at the date of execution and delivery of this Indenture or as such stock  may be reconstituted from time to time.  “Corporate Trust Office” means the office of the Trustee at which the corporate trust  business of the Trustee shall, at any particular time, be principally administered, which office is,  at the date as of which this Indenture is dated, located at __________.  “Debt” of any Person means any debt for money borrowed which is created, assumed,  incurred or guaranteed in any manner by such Person or for which such Person is otherwise  responsible or liable, and shall expressly include any such guaranty thereof by such Person.  For  the purpose of computing the amount of the Debt of any Person there shall be excluded all Debt  of such Person for the payment or redemption or satisfaction of which money or securities (or  evidences of such Debt, if permitted under the terms of the instrument creating such Debt) in the  necessary amount shall have been deposited in trust with the proper depositary, whether upon or  prior to the maturity or the date fixed for redemption of such Debt; and, in any instance where  Debt is so excluded, for the purpose of computing the assets of such Person there shall be  

 

  -3-  ActiveUS 168294812v.5  excluded the money, securities or evidences of Debt deposited by such Person in trust for the  purpose of paying or satisfying such Debt.  “Depositary” means, with respect to the Securities of any series issuable or issued in the  form of one or more Global Securities, the Person designated as Depositary by the Issuer  pursuant to Section 2.04 until a successor Depositary shall have become such pursuant to the  applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each  Person who is then a Depositary hereunder, and if at any time there is more than one such  Person, “Depositary” as used with respect to the Securities of any such series shall mean the  Depositary with respect to the Global Securities of that series.  “Dollar” means the currency of the United States of America as at the time of payment is  legal tender for the payment of public and private debts.  “Event of Default” means any event or condition specified as such in Section 5.01.  “Foreign Currency” means a currency issued by the government of a country other than  the United States.  “Foreign Government Obligation” means (a) a direct obligation of the government of a  country other than the United States of America, backed by the full faith and credit of such  government, (b) an obligation of a Person controlled or supervised by and acting as an agency or  instrumentality of such government, the payment of which is unconditionally guaranteed as a full  faith and credit obligation by such government or (c) any depositary receipt issued by a bank (as  defined in Section 3(a)(2) of the Securities Act of 1933) as custodian with respect to any Foreign  Government Obligation which is specified in clause (a) and held by such bank for the account of  the holder of such depositary receipt, or with respect to any specific payment of principal of or  interest on any such Foreign Government Obligation which is so specified and held, provided  that (except as required by law) such custodian is not authorized to make any deduction from the  amount payable to the holder of such depositary receipt from any amount received by the  custodian in respect of the Foreign Government Obligation or the specific payment of principal  or interest evidenced by such depositary receipt.  “Global Security” means a Security evidencing all or a part of a series of Securities,  issued to the Depositary for such series in accordance with Section 2.04, and bearing the legend  prescribed in Section 2.04.   “Holder”, “holder”, “holder of Securities”, “Securityholder” or other similar terms  mean the Person in whose name such Security is registered in the Security register kept by the  Issuer for that purpose in accordance with the terms hereof.  “Indenture” means this instrument as originally executed and delivered or, if amended  or supplemented as herein provided, as so amended or supplemented or both, and shall include  the forms and terms of particular series of Securities established as contemplated hereunder.  “interest”, unless the context otherwise requires, refers to interest, and when used with  respect to non-interest bearing Securities, refers to interest payable after maturity, if any.  

 

  -4-  ActiveUS 168294812v.5  “Interest Payment Date”, with respect to any Security, means the Stated Maturity of an  installment of interest on such Security.  “Issuer” means Emergent BioSolutions Inc., a Delaware corporation, and, subject to  Article 9, its successors and assigns.  “Issuer Order” means a written statement, request or order of the Issuer signed in its  name by the chairman of the Board of Directors, the president or any vice president of the Issuer.  “Notice of Default” shall have the meaning set forth in Section 5.01(c).  “Officer’s Certificate” means a certificate signed by the chairman of the Board of  Directors, the president, any vice president, the treasurer, the secretary or any assistant secretary  of the Issuer and delivered to the Trustee.  Each such certificate shall comply with Section 314 of  the Trust Indenture Act of 1939 and, except to the extent provided herein, shall include the  statements provided for in Section 11.05.  “Opinion of Counsel” means an opinion in writing signed by the general corporate  counsel or such other legal counsel who may be an employee of or counsel to the Issuer and who  shall be satisfactory to the Trustee.  Each such opinion shall comply with Section 314 of the  Trust Indenture Act of 1939 and shall include the statements provided for in Section 11.05, if and  to the extent required hereby.  “original issue date” of any Security (or portion thereof) means the earlier of (a) the date  of such Security or (b) the date of any Security (or portion thereof) for which such Security was  issued (directly or indirectly) on registration of transfer, exchange or substitution.  “Original Issue Discount Security” means any Security that provides for an amount less  than the principal amount thereof to be due and payable upon a declaration of acceleration of the  maturity thereof pursuant to Section 5.01.  “Outstanding”, when used with reference to Securities, shall, subject to the provisions of  Section 7.04, mean, as of any particular time, all Securities authenticated and delivered by the  Trustee under this Indenture, except  (a) Securities theretofore cancelled by the Trustee or delivered to the Trustee  for cancellation;  (b) Securities, or portions thereof, for the payment or redemption of which  cash, U.S. Government Obligations or Foreign Government Obligations (as provided for in  Section 10.01(a) and Section 10.01(b)) in the necessary amount shall have been deposited in trust  with the Trustee or with any paying agent (other than the Issuer) or shall have been set aside,  segregated and held in trust by the Issuer for the Holders of such Securities (if the Issuer shall act  as its own paying agent); provided, that if such Securities, or portions thereof, are to be redeemed  prior to the maturity thereof, notice of such redemption shall have been given as herein provided,  or provision satisfactory to the Trustee shall have been made for giving such notice;   

 

  -5-  ActiveUS 168294812v.5  (c) Securities as to which Legal Defeasance shall have been effected pursuant  to Section 10.01(b);  (d) Securities in substitution for which other Securities shall have been  authenticated and delivered, or which shall have been paid, pursuant to the terms of Section 2.09  (except with respect to any such Security as to which proof satisfactory to the Trustee is  presented that such Security is held by a Person in whose hands such Security is a legal, valid  and binding obligation of the Issuer), Securities converted into Common Stock pursuant hereto  and Securities not deemed outstanding pursuant to Section 12.02; and  (e) Securities as to which any property deliverable upon conversion thereof  has been delivered (or such delivery has been made available), or as to which any other  particular conditions have been satisfied, in each case as may be provided for such Securities as  contemplated in Section 2.03.  In determining whether the Holders of the requisite principal amount of Outstanding  Securities of any or all series have given any request, demand, authorization, direction, notice,  consent or waiver hereunder, (A) the principal amount of an Original Issue Discount Security  that shall be deemed to be Outstanding for such purposes shall be the amount of the principal  thereof that would be due and payable as of the date of such determination upon a declaration of  acceleration of the maturity thereof pursuant to Section 5.01, (B) if, as of such date, the principal  amount payable at the Stated Maturity of a Security is not determinable, the principal amount of  such Security which shall be deemed to be Outstanding shall be the amount as specified or  determined as contemplated by Section 2.03, and (C) the principal amount of a Security  denominated in one or more foreign currencies, composite currencies or currency units which  shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date  in the manner provided as contemplated by Section 2.03, of the principal amount of such  Security (or, in the case of a Security described in clause (A) or (B) above, of the amount  determined as provided in such clause).  “Person” means any individual, corporation, partnership, limited partnership, limited  liability company, joint venture, association, joint stock company, trust, unincorporated  organization or government or any agency or political subdivision thereof.  “principal” whenever used with reference to the Securities or any Security or any portion  thereof, shall be deemed to include “and premium, if any”.  “record date” shall have the meaning set forth in Section 2.07.  “Responsible Officer”, when used with respect to the Trustee, means the chairman of the  board of directors, any vice chairman of the board of directors, the chairman of the trust  committee, the chairman of the executive committee, any vice chairman of the executive  committee, the president, any vice president, the cashier, the secretary, the treasurer, any trust  officer, any assistant trust officer, any assistant vice president, any assistant cashier, any assistant  secretary, any assistant treasurer, or any other officer or assistant officer of the Trustee  customarily performing functions similar to those performed by the persons who at the time shall  

 

  -6-  ActiveUS 168294812v.5  be such officers, respectively, or to whom any corporate trust matter is referred because of his or  her knowledge of and familiarity with the particular subject.  “Security” or “Securities” has the meaning stated in the first recital of this Indenture, or,  as the case may be, Securities that have been authenticated and delivered under this Indenture.  “Security Registrar” shall have the meaning set forth in Section 4.01(b).  “Senior Indebtedness” of a Person means the principal of, premium, if any, interest on,  and any other payment due pursuant to any of the following, whether outstanding at the date  hereof or hereafter incurred or created:  (a) all of the indebtedness of that Person for money borrowed;  (b) all of the indebtedness of that Person evidenced by notes, debentures,  bonds or other securities sold by that Person for money;  (c) all of the lease obligations which are capitalized on the books of that  Person in accordance with generally accepted accounting principles;  (d) all indebtedness of others of the kinds described in either of the preceding  clauses (a) or (b) above and all lease obligations of others of the kind described in the preceding  clause (c) above that the Person, in any manner, assumes or guarantees or that the Person in  effect guarantees through an agreement to purchase, whether that agreement is contingent or  otherwise; and  (e) all renewals, extensions or refundings of indebtedness of the kinds  described in any of the preceding clauses (a), (b) and (d) and all renewals or extensions of leases  of the kinds described in either of the preceding clauses (c) or (d) above;   unless, in the case of any particular indebtedness, lease, renewal, extension or refunding, the  instrument or lease creating or evidencing it or the assumption or guarantee relating to it  expressly provides that such indebtedness, lease, renewal, extension or refunding is not superior  in right of payment to the Securities.  “Stated Maturity”, with respect to any Security or any installment of principal thereof or  interest thereon or any Additional Amounts with respect thereto, means the date established by  or pursuant to this Indenture or such Security as the fixed date on which the principal of such  Security or such installment of principal or interest is, or such Additional Amounts are, due and  payable.  “Subsidiary” means any corporation or other entity (including, without limitation,  partnerships, limited liability companies, joint ventures and associations) of which at least a  majority of the outstanding Capital Stock having by the terms thereof (without regard to the  occurrence or any contingency) ordinary voting power for the election of directors (or persons  performing similar functions) of such corporation or other entity (irrespective of whether or not  at the time the Capital Stock of any other class or classes of such corporation or other entity shall  have or might have voting power by reason of the occurrence of any such contingency) is at the  

 

  -7-  ActiveUS 168294812v.5  time directly or indirectly owned by the Issuer, or by one or more Subsidiaries of the Issuer, or  by the Issuer and one or more other Subsidiaries of the Issuer.  “Trust Indenture Act of 1939” (except as otherwise provided in Sections 8.01 and 8.02)  means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was  originally executed.  “Trustee” means the Person identified as “Trustee” in the first paragraph hereof and,  subject to the provisions of Article 6, shall also include any successor trustee.  “Trustee” shall  also mean or include each Person who is then a trustee hereunder and if at any time there is more  than one such Person, “Trustee” as used with respect to the Securities of any series shall mean  the trustee with respect to the Securities of such series.  “U.S. Government Obligation” means (a) a direct obligation of the United States of  America, backed by its full faith and credit, or (b) an obligation of a Person controlled or  supervised by and acting as an agency or instrumentality of the United States of America, the  payment of which is unconditionally guaranteed as a full faith and credit obligation by the  United States of America.  “vice president”, when used with respect to the Issuer or the Trustee, means any vice  president, whether or not designated by a number or a word or words added before or after the  title of “vice president”.  “Yield to Maturity” means the yield to maturity on a series of securities, calculated at  the time of issuance of such series, or, if applicable, at the most recent redetermination of interest  on such series, and calculated in accordance with accepted financial practice.  ARTICLE 2  SECURITIES  Section 2.01 Forms Generally.  The Securities of each series shall be substantially in  such form (not inconsistent with this Indenture) as shall be established by or pursuant to one or  more Board Resolutions (as set forth in a Board Resolution or, to the extent established pursuant  to (rather than set forth in) a Board Resolution, an Officer’s Certificate detailing such  establishment) or in one or more indentures supplemental hereto, in each case with such  appropriate insertions, omissions, substitutions and other variations as are required or permitted  by this Indenture and may have imprinted or otherwise reproduced thereon such legend or  legends or endorsements, not inconsistent with the provisions of this Indenture, as may be  required to comply with any law or with any rules or regulations pursuant thereto, or with any  rules of any securities exchange or to conform to general usage, all as may be determined by the  officers executing such Securities as evidenced by their execution of such Securities.  The definitive Securities shall be printed, lithographed or engraved on steel engraved  borders or may be produced in any other manner, all as determined by the officers executing  such Securities as evidenced by their execution of such Securities.  Section 2.02 Form of Trustee’s Certificate of Authentication.  The Trustee’s certificate  of authentication on all Securities shall be in substantially the following form:  

 

  -8-  ActiveUS 168294812v.5  This is one of the Securities of the series designated herein and referred to in the within- mentioned Indenture.     as Trustee  By:      Authorized Officer  Section 2.03 Amount Unlimited; Issuable in Series.  The aggregate principal amount of  Securities which may be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more series.  The terms of a series of Securities  shall be established prior to the initial issuance thereof in or pursuant to one or more Board  Resolutions, or, to the extent established pursuant to (rather than set forth in) a Board Resolution,  in an Officer’s Certificate detailing such establishment and/or established in one or more  indentures supplemental hereto.  The terms of such series reflected in such Board Resolution,  Officer’s Certificate, or supplemental indenture may include the following or any additional or  different terms:  (a) the designation of the Securities of the series (which may be part of a  series of Securities previously issued);  (b) any limit upon the aggregate principal amount of the Securities of the  series that may be authenticated and delivered under this Indenture (except for Securities  authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,  other Securities of the series pursuant to Section 2.08, 2.09, 2.11, 8.05 or 12.03);  (c) the date or dates on which the principal of the Securities of the series is  payable or the method used to determine those dates and the right, if any, to extend such date or  dates;  (d) the rate or rates at which the Securities of the series shall bear interest, if  any or the method by which such rate or rates shall be determined; the record date or dates for  the determination of holders to whom interest is payable; the date or dates from which such  interest shall accrue and on which such interest shall be payable , or the method by which such  date or dates shall be determined; the right, if any, to extend the interest payment periods and the  duration of that extension; and the basis upon which interest shall be calculated if other than that  of a 360-day year of twelve 30-day months;  (e) the place or places where the principal of and any interest on Securities of  the series shall be payable (if other than as provided in Section 3.02);  (f) the obligation or the right, if any, of the Issuer to redeem, purchase or  repay Securities of the series pursuant to any mandatory redemption, sinking fund or analogous  

 

  -9-  ActiveUS 168294812v.5  provisions or at the option of a Holder thereof and the price or prices at which and the period or  periods within which and any terms and conditions upon which Securities of the series shall be  redeemed, purchased or repaid, in whole or in part, pursuant to such obligation or right;  (g) if other than denominations of $2,000 and any integral multiple of $1,000  in excess thereof, the denominations in which Securities of the series shall be issuable;  (h) if other than the principal amount thereof, the portion of the principal  amount of Securities of the series which shall be payable upon declaration of acceleration of the  maturity thereof;  (i) if other than Dollars, the currency, currencies or currency units in which  the Securities of the series are denominated;  (j) if other than the currency in which the Securities of the series are  denominated, the currency in which payment of the principal of or interest on the Securities of  such series shall be payable;  (k) if the principal of or interest on the Securities of the series is to be payable,  at the election of the Issuer or a Holder thereof, in a currency other than that in which the  Securities are denominated, the period or periods within which, and the terms and conditions  upon which, such election may be made;  (l) if the amount of payments of principal of and interest on the Securities of  the series may be determined by reference to an index based on a currency other than that in  which the Securities of the series are denominated, or by reference to one or more currency  exchange rates, securities or baskets of securities, commodity prices or indices, the manner in  which such amounts shall be determined;  (m) the terms and conditions, if applicable, upon which conversion or  exchange of the Securities into Common Stock will be effected, including the initial conversion  or exchange price or rate and any adjustments thereto, the conversion or exchange period and  other provisions in addition to or in lieu of those described herein;  (n) if the Securities of the series may be issued in exchange for surrendered  Securities of another series, or for other securities of the Issuer, pursuant to the terms of such  Securities or securities or of any agreement entered into by the Issuer, the ratio of the principal  amount of the Securities of the series to be issued to the principal amount of the Securities or  securities to be surrendered in exchange, and any other material terms of the exchange;   (o) if Sections 10.01(b) or 10.01(c) are inapplicable to Securities of such  series;  (p) whether and under what circumstances the Issuer will pay Additional  Amounts on the Securities and, if so, whether the Issuer will have the option to redeem such  Securities rather than pay such additional amounts;  

 

  -10-  ActiveUS 168294812v.5  (q) if the Securities of such series are to be issuable in definitive form  (whether upon original issue or upon exchange of a temporary Security of such series) only upon  receipt of certain certificates or other documents or satisfaction of other conditions, then the form  and terms of such certificates, documents or conditions;  (r) any trustees, authenticating or paying agents, transfer agents or registrars  or any other agents with respect to the Securities of such series;  (s) any other events of default or covenants with respect to the Securities of  such series in addition to or in lieu of those contained in this Indenture;   (t) the extent to which payments on the Securities will be subordinated to the  payment of Senior Indebtedness of the Issuer; and  (u) any other terms of the series.  The Issuer may from time to time, without notice to or the consent of the holders of any  series of Securities, create and issue further Securities of any such series ranking equally with the  Securities of such series in all respects (or in all respects other than (1) the payment of interest  accruing prior to the issue date of such further Securities or (2) the first payment of interest  following the issue date of such further Securities).  Such further Securities may be consolidated  and form a single series with the Securities of such series and have the same terms as to status,  redemption or otherwise as the Securities of such series.  Section 2.04 Authentication and Delivery of Securities.  The Issuer may deliver  Securities of any series executed by the Issuer to the Trustee for authentication together with the  applicable documents referred to below in this Section, and the Trustee shall thereupon  authenticate and deliver such Securities to or upon the order of the Issuer (contained in the Issuer  Order referred to below in this Section) or pursuant to such procedures acceptable to the Trustee  and to such recipients as may be specified from time to time by an Issuer Order.  The maturity  date, original issue date, interest rate and any other terms of the Securities of such series shall be  determined by or pursuant to such Issuer Order and procedures.  If provided for in such  procedures, such Issuer Order may authorize authentication and delivery pursuant to oral  instructions from the Issuer or its duly authorized agent, which instructions shall be promptly  confirmed in writing.  In authenticating such Securities and accepting the additional  responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to  receive, and (subject to Section 6.01) shall be fully protected in relying upon:  (a) an Issuer Order requesting such authentication and setting forth delivery  instructions if the Securities are not to be delivered to the Issuer;  (b) any Board Resolution, Officer’s Certificate and/or executed supplemental  indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the forms and terms of  the Securities were established;  (c) an Officer’s Certificate setting forth the form or forms and terms of the  Securities stating that the form or forms and terms of the Securities have been established  

 

  -11-  ActiveUS 168294812v.5  pursuant to Sections 2.01 and 2.03 and comply with this Indenture, and covering such other  matters as the Trustee may reasonably request; and  (d) an Opinion of Counsel to the effect that:  (i) the form or forms and terms of such Securities have been  established pursuant to Sections 2.01 and 2.03 and comply with this Indenture,  (ii) the authentication and delivery of such Securities by the Trustee  are authorized under the provisions of this Indenture, and  (iii) such Securities when authenticated and delivered by the Trustee  and issued by the Issuer in the manner and subject to any conditions specified in  such Opinion of Counsel, will constitute valid and binding obligations of the  Issuer,   and covering such other matters as the Trustee may reasonably request.  The Trustee shall have the right to decline to authenticate and deliver any Securities  under this Section if the Trustee, being advised by counsel, determines that such action may not  lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of  trustees, executive committee, or a trust committee of directors or trustees or Responsible  Officers shall determine that such action would expose the Trustee to personal liability to  existing Holders or would affect the Trustee’s own rights, duties or immunities under the  Securities, this Indenture or otherwise.  The Issuer shall execute and the Trustee shall, in accordance with this Section with  respect to the Securities of a series, authenticate and deliver one or more Global Securities that  (i) shall represent and shall be denominated in an amount equal to the aggregate principal  amount of all of the Securities of such series issued and not yet cancelled, (ii) shall be registered  in the name of the Depositary for such Global Security or Securities or the nominee of such  Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such  Depositary’s instructions and (iv) shall bear a legend substantially to the following effect:  “UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR  SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE  TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE  DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR  ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH  NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR  DEPOSITARY.”  Each Depositary designated pursuant to this Section must, at the time of its designation  and at all times while it serves as Depositary, be a clearing agency registered under the Securities  Exchange Act of 1934, as amended, and any other applicable statute or regulation.  Section 2.05 Execution of Securities.  The Securities shall be signed on behalf of the  Issuer by the chairman of its Board of Directors, any vice chairman of its Board of Directors, its  

 

  -12-  ActiveUS 168294812v.5  chief executive officer, its principal financial officer, its president, any vice president or its  treasurer.  Such signatures may be the manual or facsimile signatures of the present or any future  such officers.  Typographical and other minor errors or defects in any such reproduction of any  such signature shall not affect the validity or enforceability of any Security that has been duly  authenticated and delivered by the Trustee.  In case any officer of the Issuer who shall have signed any of the Securities shall cease to  be such officer before the Security so signed shall be authenticated and delivered by the Trustee  or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or  disposed of as though the person who signed such Security had not ceased to be such officer of  the Issuer; and any Security may be signed on behalf of the Issuer by such persons as, at the  actual date of the execution of such Security, shall be the proper officers of the Issuer, although  at the date of the execution and delivery of this Indenture any such person was not such an  officer.  Section 2.06 Certificate of Authentication.  Only such Securities as shall bear thereon a  certificate of authentication substantially in the form hereinbefore recited, executed by the  Trustee by the manual signature of one of its authorized officers, shall be entitled to the benefits  of this Indenture or be valid or obligatory for any purpose.  The execution of such certificate by  the Trustee upon any Security executed by the Issuer shall be conclusive evidence that the  Security so authenticated has been duly authenticated and delivered hereunder and that the  Holder is entitled to the benefits of this Indenture.  Section 2.07 Denomination and Date of Securities; Payments of Interest.  The  Securities of each series shall be issuable in denominations established as contemplated by  Section 2.03 or, if not so established, in denominations of $2,000 and any integral multiple of  $1,000 thereof.  The Securities of each series shall be numbered, lettered or otherwise  distinguished in such manner or in accordance with such plan as the officers of the Issuer  executing the same may determine with the approval of the Trustee, as evidenced by the  execution and authentication thereof.  Unless otherwise indicated in a Board Resolution,  Officer’s Certificate or supplemental indenture for a particular series, interest will be calculated  on the basis of a 360-day year of twelve 30-day months.  Each Security shall be dated the date of its authentication.  The Securities of each series  shall bear interest, if any, from the date, and such interest shall be payable on the dates,  established as contemplated by Section 2.03.  The Person in whose name any Security of any series is registered at the close of business  on any record date applicable to a particular series with respect to any Interest Payment Date for  such series shall be entitled to receive the interest, if any, payable on such Interest Payment Date  notwithstanding any transfer, exchange or conversion of such Security subsequent to the record  date and prior to such Interest Payment Date, except if and to the extent the Issuer shall default in  the payment of the interest due on such Interest Payment Date for such series, in which case such  defaulted interest shall be paid to the Persons in whose names Outstanding Securities for such  series are registered at the close of business on a subsequent record date (which shall be not less  than five Business Days prior to the date of payment of such defaulted interest) established by  notice given by or on behalf of the Issuer to the Holders of Securities not less than 15 days  

 

  -13-  ActiveUS 168294812v.5  preceding such subsequent record date.  The term “record date” as used with respect to any  Interest Payment Date (except a date for payment of defaulted interest) for the Securities of any  series shall mean the date specified as such in the terms of the Securities of such series  established as contemplated by Section 2.03, or, if no such date is so specified, if such Interest  Payment Date is the first day of a calendar month, the 15th day of the immediately preceding  calendar month or, if such Interest Payment Date is the 15th day of a calendar month, the first  day of such calendar month, whether or not such record date is a Business Day.  Section 2.08 Registration, Transfer and Exchange.  The Issuer will keep at each office  or agency to be maintained for the purpose as provided in Section 3.02 for each series of  Securities a register or registers in which, subject to such reasonable regulations as it may  prescribe, it will provide for the registration of Securities of such series and the registration of  transfer of Securities of such series.  Such register shall be in written form in the English  language or in any other form capable of being converted into such form within a reasonable  time.  At all reasonable times such register or registers shall be open for inspection by the  Trustee.  Upon due presentation for registration of transfer of any Security of any series at any  such office or agency to be maintained for the purpose as provided in Section 3.02, the Issuer  shall execute and the Trustee shall authenticate and deliver in the name of the transferee or  transferees a new Security or Securities of the same series, maturity date, interest rate and  original issue date in authorized denominations for a like aggregate principal amount.  At the option of the Holder thereof, Securities of any series (except a Global Security)  may be exchanged for a Security or Securities of such series having authorized denominations  and an equal aggregate principal amount, upon surrender of such Securities to be exchanged at  the agency of the Issuer that shall be maintained for such purpose in accordance with Section  3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided.   Whenever any Securities are so surrendered for exchange, the Issuer shall execute, and the  Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is  entitled to receive.  All Securities surrendered upon any exchange or transfer provided for in this  Indenture shall be promptly cancelled and disposed of by the Trustee and the Trustee will deliver  a certificate of disposition thereof to the Issuer.  All Securities presented for registration of transfer, exchange, redemption or payment  shall (if so required by the Issuer or the Trustee) be duly endorsed by, or be accompanied by a  written instrument or instruments of transfer in form satisfactory to the Issuer and the Trustee  duly executed by, the Holder or his or her attorney duly authorized in writing.  The Issuer may require payment of a sum sufficient to cover any stamp or other tax or  other governmental charge that may be imposed in connection with any exchange or registration  of transfer of Securities.  No service charge shall be made for any such transaction.  The Issuer shall not be required to exchange or register a transfer of (a) any Securities of  any series for a period of 15 days immediately preceding the first delivery of notice of  redemption of Securities of such series to be redeemed or (b) any Securities selected, called or  

 

  -14-  ActiveUS 168294812v.5  being called for redemption, in whole or in part, except, in the case of any Security to be  redeemed in part, the portion thereof not so to be redeemed.  Notwithstanding any other provision of this Section 2.08, unless and until it is exchanged  in whole or in part for Securities in definitive registered form, a Global Security representing all  or a portion of the Securities of a series may not be transferred except as a whole by the  Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary  to such Depositary or another nominee of such Depositary or by such Depositary or any such  nominee to a successor Depositary for such series or a nominee of such successor Depositary.  If at any time the Depositary for the Securities of a series notifies the Issuer that it is  unwilling or unable to continue as Depositary for the Securities of such series or if at any time  the Depositary for the Securities of a series shall no longer be eligible under Section 2.04, the  Issuer shall appoint a successor Depositary with respect to the Securities of such series.  If a  successor Depositary for the Securities of such series is not appointed by the Issuer within 90  days after the Issuer receives such notice or becomes aware of such ineligibility, the Issuer’s  determination pursuant to Section 2.03 that the Securities of such series be represented by a  Global Security shall no longer be effective and the Issuer will execute, and the Trustee, upon  receipt of an Officer’s Certificate for the authentication and delivery of definitive Securities of  such series, will authenticate and deliver, Securities of such series in definitive registered form,  in any authorized denominations, in an aggregate principal amount equal to the principal amount  of the Global Security or Securities representing the Securities of such series, in exchange for  such Global Security or Securities.  The Issuer may at any time and in its sole discretion determine that the Securities of any  series issued in the form of one or more Global Securities shall no longer be represented by a  Global Security or Securities.  In such event the Issuer will execute, and the Trustee, upon  receipt of an Officer’s Certificate for the authentication and delivery of definitive Securities of  such series, will authenticate and deliver, Securities of such series in definitive registered form,  in any authorized denominations, in an aggregate principal amount equal to the principal amount  of the Global Security or Securities representing such series, in exchange for such Global  Security or Securities.  The Depositary for such Global Security may surrender such Global Security in exchange  in whole or in part for Securities of the same series in definitive registered form in accordance  with the two preceding paragraphs or on such other terms as are acceptable to the Issuer and such  Depositary.  Thereupon, the Issuer shall execute, and the Trustee shall authenticate and deliver,  without service charge,  (i) to the Person specified by such Depositary a new Security or  Securities of the same series, of any authorized denominations as requested by  such Person, in an aggregate principal amount equal to and in exchange for such  Person’s beneficial interest in the Global Security; and  (ii) to such Depositary a new Global Security in a denomination equal  to the difference, if any, between the principal amount of the surrendered Global  

 

  -15-  ActiveUS 168294812v.5  Security and the aggregate principal amount of Securities authenticated and  delivered pursuant to clause (i) above.  Upon the exchange of a Global Security for Securities in definitive registered form, in  authorized denominations, such Global Security shall be cancelled by the Trustee.  Securities in  definitive registered form issued in exchange for a Global Security pursuant to this Section 2.08  shall be registered in such names and in such authorized denominations as the Depositary for  such Global Security, pursuant to instructions from its direct or indirect participants or otherwise,  shall instruct the Trustee.  The Trustee shall deliver such Securities to or as directed by the  Persons in whose names such Securities are so registered.  All Securities issued upon any transfer or exchange of Securities shall be valid  obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this  Indenture, as the Securities surrendered upon such transfer or exchange.  Section 2.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities.  In case any  temporary or definitive Security shall become mutilated or defaced or be destroyed, lost or  stolen, the Issuer in its discretion may execute, and upon the written request of any officer of the  Issuer, the Trustee shall authenticate and deliver a new Security of the same series, maturity date,  interest rate and original issue date, bearing a number or other distinguishing symbol not  contemporaneously outstanding, in exchange and substitution for the mutilated or defaced  Security, or in lieu of and substitution for the Security so destroyed, lost or stolen.  In every case  the applicant for a substitute Security shall furnish to the Issuer and to the Trustee and any agent  of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify  and defend and to save each of them harmless and, in every case of destruction, loss or theft,  evidence to their satisfaction of the destruction, loss or theft of such Security and of the  ownership thereof and in the case of mutilation or defacement shall surrender the Security to the  Trustee.  Upon the issuance of any substitute Security, the Issuer may require the payment of a  sum sufficient to cover any tax or other governmental charge that may be imposed in relation  thereto and any other expenses (including the fees and expenses of the Trustee) connected  therewith.  In case any Security which has matured or is about to mature or has been called for  redemption in full, or is being surrendered for conversion in full, shall become mutilated or  defaced or be destroyed, lost or stolen, the Issuer may, instead of issuing a substitute Security  (with the Holder’s consent, in the case of convertible Securities), pay or authorize the payment of  the same or convert, or authorize conversion of the same (without surrender thereof except in the  case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the  Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as  any of them may require to save each of them harmless, and, in every case of destruction, loss or  theft, the applicant shall also furnish to the Issuer and the Trustee and any agent of the Issuer or  the Trustee evidence to their satisfaction of the destruction, loss or theft of such Security and of  the ownership thereof.  Every substitute Security of any series issued pursuant to the provisions of this Section by  virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an additional  contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Security shall be  

 

  -16-  ActiveUS 168294812v.5  at any time enforceable by anyone and shall be entitled to all the benefits of (but shall be subject  to all the limitations of rights set forth in) this Indenture equally and proportionately with any  and all other Securities of such series duly authenticated and delivered hereunder.  All Securities  shall be held and owned upon the express condition that, to the extent permitted by law, the  foregoing provisions are exclusive with respect to the replacement or payment or conversion of  mutilated, defaced or destroyed, lost or stolen Securities and shall preclude any and all other  rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary  with respect to the replacement or payment of negotiable instruments or other securities without  their surrender.  Section 2.10 Cancellation of Securities; Destruction Thereof.  All Securities  surrendered for exchange for Securities of the same series or for payment, redemption,  registration of transfer or conversion or for credit against any payment in respect of a sinking or  analogous fund, if surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be  delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it;  and no Securities shall be issued in lieu thereof except as expressly permitted by any of the  provisions of this Indenture.  The Trustee shall dispose of cancelled Securities held by it and  deliver a certificate of disposition to the Issuer.  If the Issuer shall acquire any of the Securities,  such acquisition shall not operate as a redemption or satisfaction of the Debt represented by such  Securities unless and until the same are delivered to the Trustee for cancellation.  Section 2.11 Temporary Securities.  Pending the preparation of definitive Securities for  any series, the Issuer may execute and the Trustee shall authenticate and deliver temporary  Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each  case in form satisfactory to the Trustee).  Temporary Securities of any series shall be issuable in  any authorized denomination, and substantially in the form of the definitive Securities of such  series but with such omissions, insertions and variations as may be appropriate for temporary  Securities, all as may be determined by the Issuer with the concurrence of the Trustee as  evidenced by the execution and authentication thereof.  Temporary Securities may contain such  reference to any provisions of this Indenture as may be appropriate.  Every temporary Security  shall be executed by the Issuer and be authenticated by the Trustee upon the same conditions and  in substantially the same manner, and with like effect, as the definitive Securities.  Without  unreasonable delay the Issuer shall execute and shall furnish definitive Securities of such series  and thereupon temporary Securities of such series may be surrendered in exchange therefor  without charge at each office or agency to be maintained by the Issuer for that purpose pursuant  to Section 3.02 and the Trustee shall authenticate and deliver in exchange for such temporary  Securities of such series an equal aggregate principal amount of definitive Securities of the same  series having authorized denominations.  Until so exchanged, the temporary Securities of any  series shall be entitled to the same benefits under this Indenture as definitive Securities of such  series, unless the benefits of the temporary Securities are limited pursuant to Section 2.03.  Section 2.12 CUSIP Numbers. The Issuer in issuing the Securities may use “CUSIP”  numbers if then generally in use and, if so, the Trustee may use “CUSIP” numbers in notices of  redemption as a convenience to Holders. Any such notice may state that no representation is  made as to the correctness of such numbers either as printed on the Securities or as contained in  any notice of a redemption and that reliance may be placed only on the other identification  

 

  -17-  ActiveUS 168294812v.5  numbers printed on the Securities. No such redemption shall be affected by any defect in or  omission of such numbers.  ARTICLE 3  COVENANTS OF THE ISSUER  Section 3.01 Payment of Principal and Interest.  The Issuer covenants and agrees for  the benefit of each series of Securities that it will duly and punctually pay or cause to be paid the  principal of, and interest on, each of the Securities of such series (together with any additional  amounts payable pursuant to the terms of such Securities) at the place or places, at the respective  times and in the manner provided in such Securities and in this Indenture.  The interest on  Securities (together with any additional amounts payable pursuant to the terms of such  Securities) shall be payable only to or upon the written order of the Holders thereof and at the  option of the Issuer may be paid by mailing checks for such interest payable to or upon the  written order of such Holders at their last addresses as they appear on the Security register of the  Issuer.  Section 3.02 Offices for Payments, Etc.  The Issuer will maintain (i) in _______, an  agency where the Securities of each series may be presented for payment, an agency where the  Securities of each series may be presented for exchange and conversion, if applicable, as  provided in this Indenture and an agency where the Securities of each series may be presented  for registration of transfer as in this Indenture provided and (ii) such further agencies in such  places as may be determined for the Securities of such series pursuant to Section 2.03.  The Issuer will maintain in __________, an agency where notices and demands to or  upon the Issuer in respect of the Securities of any series or this Indenture may be served.  The Issuer will give to the Trustee written notice of the location of each such agency and  of any change of location thereof.  In case the Issuer shall fail to maintain any agency required  by this Section to be located in __________, or shall fail to give such notice of the location or of  any change in the location of any of the above agencies, presentations and demands may be  made and notices may be served at the Corporate Trust Office of the Trustee.  The Issuer may from time to time designate one or more additional agencies where the  Securities of a series may be presented for payment, where the Securities of that series may be  presented for exchange or conversion, if applicable, as provided in this Indenture and pursuant to  Section 2.03 and where the Securities of that series may be presented for registration of transfer  as in this Indenture provided, and the Issuer may from time to time rescind any such designation,  as the Issuer may deem desirable or expedient; provided, however, that no such designation or  rescission shall in any manner relieve the Issuer of its obligation to maintain the agencies  provided for in this Section.  The Issuer will give to the Trustee prompt written notice of any  such designation or rescission thereof.  Section 3.03 Appointment to Fill a Vacancy in Office of Trustee.  The Issuer, whenever  necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided  in Section 6.10, a Trustee, so that there shall at all times be a Trustee with respect to each series  of Securities hereunder.  

 

  -18-  ActiveUS 168294812v.5  Section 3.04 Paying Agents.  Whenever the Issuer shall appoint a paying agent other  than the Trustee with respect to the Securities of any series, it will cause such paying agent to  execute and deliver to the Trustee an instrument in which such agent shall agree with the  Trustee, subject to the provisions of this Section,  (a) that it will hold all sums received by it as such agent for the payment of  the principal of or interest on the Securities of such series (whether such sums have been paid to  it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of  the Holders of the Securities of such series or of the Trustee,  (b) that it will give the Trustee notice of any failure by the Issuer (or by any  other obligor on the Securities of such series) to make any payment of the principal of or interest  on the Securities of such series when the same shall be due and payable, and  (c) that at any time during the continuance of any such failure, upon the  written request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust by  such paying agent.  The Issuer will, on or prior to each due date of the principal of or interest on the  Securities of such series, deposit with the paying agent a sum sufficient to pay such principal or  interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly  notify the Trustee of any failure to take such action.  If the Issuer shall act as its own paying agent with respect to the Securities of any series,  it will, on or before each due date of the principal of or interest on the Securities of such series,  set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such series  a sum sufficient to pay such principal or interest so becoming due.  The Issuer will promptly  notify the Trustee of any failure to take such action.  Anything in this Section to the contrary notwithstanding, but subject to Section 10.01, the  Issuer may at any time, for the purpose of obtaining a satisfaction and discharge with respect to  one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid  to the Trustee all sums held in trust for any such series by the Issuer or any paying agent  hereunder, as required by this Section, such sums to be held by the Trustee upon the trusts herein  contained.  Anything in this Section to the contrary notwithstanding, the agreement to hold sums in  trust as provided in this Section is subject to the provisions of Sections 10.03 and 10.04.  Section 3.05 Written Statement to Trustee.  So long as any Securities are Outstanding  hereunder, the Issuer will deliver to the Trustee, within 120 days after the end of each fiscal year  of the Issuer ending after the date hereof, a written certificate covering the previous fiscal year,  (which need not comply with Section 11.05), signed by its principal executive officer, principal  financial officer or principal accounting officer, stating whether or not, to the best knowledge of  such officer, the Issuer is in default in the performance and observance of any of the terms,  provisions and conditions of this Indenture (without regard to any period of grace or requirement  of notice provided hereunder) and, if the Issuer shall be in default, specifying all such defaults  and the nature and status thereof of which they may have knowledge.  

 

  -19-  ActiveUS 168294812v.5  ARTICLE 4  SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE  Section 4.01 Issuer to Furnish Trustee Information as to Names and Addresses of  Securityholders.  The Issuer covenants and agrees that it will furnish or cause to be furnished to  the Trustee a list in such form as the Trustee may reasonably require of the names and addresses  of the Holders of the Securities of each series pursuant to Section 312 of the Trust Indenture Act  of 1939:  (a) semiannually and not more than 15 days after each record date for the  payment of interest on such Securities, as hereinabove specified, as of such record date and on  dates to be determined pursuant to Section 2.03 for non-interest bearing Securities in each year,  and  (b) at such other times as the Trustee may request in writing, within 30 days  after receipt by the Issuer of any such request as of a date not more than 15 days prior to the time  such information is furnished, provided, that, if and so long as the Trustee shall be the Security  registrar (the “Security Registrar”) for such series, such list shall not be required to be  furnished.  Section 4.02 Reports by the Issuer.  The Issuer covenants to comply with Section  314(a) of the Trust Indenture Act of 1939 insofar as it relates to information, documentation and  other reports which the Issuer may be required to file with the Commission pursuant to Section  13 or Section 15(d) of the Securities Exchange Act of 1934, as amended.  Section 4.03 Reports by the Trustee.  Any Trustee’s report required under Section  313(a) of the Trust Indenture Act of 1939 shall be transmitted on or before ______ in each year  following the date hereof, so long as any Securities are Outstanding hereunder, and shall be  dated as of a date convenient to the Trustee but no more than 60 nor less than 45 days prior  thereto.  The Trustee shall comply with Sections 313(b), 313(c) and 313(d) of the Trust  Indenture Act of 1939.  Section 4.04 Preservation of Information; Communication with Securityholders.  (a)  The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to  the names and addresses of the Holders of Securities contained in the most recent list furnished  to it as provided in Section 4.01 and as to the names and addresses of holders of Securities  received by the Trustee in its capacity as Security Registrar (if acting in such capacity).  (b) The Trustee may destroy any list furnished to it as provided in Section  4.01 upon receipt of a new list so furnished.  (c) Securityholders may communicate as provided in Section 312(b) of the  Trust Indenture Act of 1939 with other Securityholders with respect to  their rights under this Indenture or under the Securities.  The Issuer, the  Trustee, the Security Registrar and any other Person shall have the  protection of Section 312(c) of the Trust Indenture Act of 1939.    ARTICLE 5  

 

  -20-  ActiveUS 168294812v.5  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT  Section 5.01 Event of Default Defined; Acceleration of Maturity; Waiver of Default.   “Event of Default”, with respect to Securities of any series wherever used herein, means any  one of the following events which shall have occurred and be continuing (whatever the reason  for such Event of Default and whether it shall be voluntary or involuntary or be effected by  operation of law or pursuant to any judgment, decree or order of any court or any order, rule or  regulation of any administrative or governmental body):  (a) default in the payment of any installment of interest upon any of the  Securities of such series as and when the same shall become due and payable, and continuance of  such default for a period of 90 days (or such other period as may be established for the Securities  of such series as contemplated by Section 2.03); or  (b) default in the payment of all or any part of the principal on any of the  Securities of such series as and when the same shall become due and payable either at maturity,  upon redemption, by declaration or otherwise (and, if established for the Securities of such series  as contemplated by Section 2.03, the continuance of such default for a specified period); or  (c) default in the performance, or breach, of any covenant or agreement of the  Issuer in respect of the Securities of such series (other than a covenant or agreement in respect of  the Securities of such series a default in the performance or breach of which is elsewhere in this  Section specifically dealt with), and continuance of such default or breach for a period of 90 days  after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the  Issuer and the Trustee by the Holders of at least 25% in principal amount of the Outstanding  Securities of such series, a written notice specifying such default or breach and requiring it to be  remedied and stating that such notice is a “Notice of Default” hereunder; or  (d) a court having jurisdiction in the premises shall enter a decree or order for  relief in respect of the Issuer in an involuntary case under any applicable bankruptcy, insolvency  or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,  custodian, trustee or sequestrator (or similar official) of the Issuer or for all or substantially all of  its property and assets or ordering the winding up or liquidation of its affairs, and such decree or  order shall remain unstayed and in effect for a period of 90 consecutive days; or  (e) the Issuer shall commence a voluntary case under any applicable  bankruptcy, insolvency or other similar law now or hereafter in effect, or consent to the entry of  an order for relief in an involuntary case under any such law, or consent to the appointment of or  taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar  official) of the Issuer or for any substantial part of its property and assets, or make any general  assignment for the benefit of creditors; or  (f) any other Event of Default provided for in such series of Securities.  If an Event of Default described in clauses (a), (b), (c) or (f) occurs and is continuing,  then, and in each and every such case, unless the principal of all of the Securities of such series  shall have already become due and payable, either the Trustee or the Holders of not less than  25% in aggregate principal amount of the Securities of such series then Outstanding hereunder  

 

  -21-  ActiveUS 168294812v.5  (each such series voting as a separate class) by notice in writing to the Issuer (and also to the  Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of such  series are Original Issue Discount Securities, such portion of the principal amount as may be  specified in the terms of such series) of all Securities of such series and the interest accrued  thereon, if any, to be due and payable immediately, and upon any such declaration the same shall  become immediately due and payable.  If an Event of Default described in clauses (d) or (e)  occurs and is continuing, then and in each and every such case, the entire principal (or, if any  Securities are Original Issue Discount Securities, such portion of the principal as may be  specified in the terms thereof) of all the Securities then Outstanding and interest accrued thereon,  if any, shall automatically become immediately due and payable.  The foregoing provisions, however, are subject to the condition that if, at any time after  the principal of the Securities of any series shall have been so declared due and payable, and  before any judgment or decree for the payment of the moneys due shall have been obtained or  entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum  sufficient to pay all matured installments of interest upon all the Securities of such series and the  principal of any and all Securities of such series which shall have become due otherwise than by  acceleration (with interest upon such principal and, to the extent that payment of such interest is  enforceable under applicable law, on overdue installments of interest, at the same rate as the rate  of interest specified in the Securities of such series to the date of such payment or deposit) and  such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents,  attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by  the Trustee except as a result of negligence or bad faith, and if any and all Events of Default  under the Indenture with respect to such series, other than the non-payment of the principal of  Securities of such series which shall have become due solely by such acceleration, shall have  been cured, waived or otherwise remedied as provided herein, then and in every such case the  Holders of a majority in aggregate principal amount of all the Securities of such series then  Outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults with  respect to such series and rescind and annul such declaration and its consequences, but no such  waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall  impair any right consequent thereon.  Unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental  indenture for a series of Original Issue Discount Securities, for all purposes under this Indenture,  if a portion of the principal of any Original Issue Discount Securities shall have been accelerated  and declared due and payable pursuant to the provisions hereof, then, from and after such  declaration, unless such declaration has been rescinded and annulled, the principal amount of  such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such  portion of the principal thereof as shall be due and payable as a result of such acceleration, and  payment of such portion of the principal thereof as shall be due and payable as a result of such  acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall  constitute payment in full of such Original Issue Discount Securities.  Section 5.02 Collection of Debt by Trustee; Trustee May Prove Debt.  The Issuer  covenants that (a) in case default shall be made in the payment of any installment of interest on  any of the Securities of any series when such interest shall have become due and payable, and  such default shall have continued for a period of 90 days or (b) in case default shall be made in  

 

  -22-  ActiveUS 168294812v.5  the payment of all or any part of the principal of any of the Securities of any series when the  same shall have become due and payable, whether upon maturity of the Securities of such series  or upon any redemption or by declaration or otherwise, then, upon demand of the Trustee, the  Issuer will pay to the Trustee for the benefit of the Holders of the Securities of such series the  whole amount that then shall have become due and payable on all Securities of such series for  principal or interest, as the case may be (with interest to the date of such payment upon the  overdue principal and, to the extent that payment of such interest is enforceable under applicable  law, on overdue installments of interest at the same rate as the rate of interest or Yield to  Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such  series); and, in addition thereto, such further amount as shall be sufficient to cover the costs and  expenses of collection, including reasonable compensation to the Trustee and each predecessor  trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred,  and all advances made, by the Trustee and each predecessor trustee except as a result of its  negligence or bad faith.  In case the Issuer shall fail forthwith to pay such amounts upon such demand, the  Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to  institute any action or proceedings at law or in equity for the collection of the sums so due and  unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may  enforce any such judgment or final decree against the Issuer or other obligor upon such  Securities and collect in the manner provided by law out of the property of the Issuer or other  obligor upon such Securities, wherever situated, the moneys adjudged or decreed to be payable.  In case there shall be pending proceedings relative to the Issuer or any other obligor upon  the Securities under Title 11 of the United States Code or any other applicable Federal or state  bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in  bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been  appointed for or taken possession of the Issuer or its property or such other obligor or its  property, or in case of any other comparable judicial proceedings relative to the Issuer or other  obligor upon the Securities of any series, or to the creditors or property of the Issuer or such  other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be  due and payable as therein expressed or by declaration or otherwise and irrespective of whether  the Trustee shall have made any demand pursuant to the provisions of this Section, shall be  entitled and empowered, by intervention in such proceedings or otherwise:  (i) to file and prove a claim or claims for the whole amount of  principal and interest (or, if the Securities of any series are Original Issue  Discount Securities, such portion of the principal amount as may be specified in  the terms of such series) owing and unpaid in respect of the Securities of any  series, and to file such other papers or documents as may be necessary or  advisable in order to have the claims of the Trustee (including any claim for  reasonable compensation to the Trustee and each predecessor trustee, and their  respective agents, attorneys and counsel, and for reimbursement of all expenses  and liabilities incurred, and all advances made, by the Trustee and each  predecessor trustee, except as a result of negligence or bad faith) and of the  Securityholders allowed in any judicial proceedings relative to the Issuer or other  

 

  -23-  ActiveUS 168294812v.5  obligor upon the Securities of any series, or to the creditors or property of the  Issuer or such other obligor,  (ii) unless prohibited by applicable law and regulations, to vote on  behalf of the Holders of the Securities of any series in any election of a trustee or  a standby trustee in arrangement, reorganization, liquidation or other bankruptcy  or insolvency proceedings or person performing similar functions in comparable  proceedings, and  (iii) to collect and receive any moneys or other property payable or  deliverable on any such claims, and to distribute all amounts received with respect  to the claims of the Securityholders and of the Trustee on their behalf; and any  trustee, receiver or liquidator, custodian or other similar official is hereby  authorized by each of the Securityholders to make payments to the Trustee, and,  in the event that the Trustee shall consent to the making of payments directly to  the Securityholders, to pay to the Trustee such amounts as shall be sufficient to  cover reasonable compensation to the Trustee, each predecessor trustee and their  respective agents, attorneys and counsel, and all other expenses and liabilities  incurred, and all advances made, by the Trustee and each predecessor trustee  except as a result of negligence or bad faith and all other amounts due to the  Trustee or any predecessor trustee pursuant to Section 6.06.  Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent  to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization,  arrangement, adjustment or composition affecting the Securities of any series or the rights of any  Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in  any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or  similar person.  All rights of action and of asserting claims under this Indenture, or under any of the  Securities of any series, may be enforced by the Trustee without the possession of any of the  Securities of such series or the production thereof on any trial or other proceedings relative  thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own  name as trustee of an express trust, and any recovery of judgment, subject to the payment of the  expenses, disbursements and compensation of the Trustee, each predecessor trustee and their  respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities in  respect of which such action was taken.  In any proceedings brought by the Trustee (and also any proceedings involving the  interpretation of any provision of this Indenture to which the Trustee shall be a party), the  Trustee shall be held to represent all the Holders of the Securities in respect to which such action  was taken, and it shall not be necessary to make any Holders of such Securities parties to any  such proceedings.  Section 5.03 Application of Proceeds.  Any moneys collected by the Trustee pursuant  to this Article in respect of any series shall be applied in the following order at the date or dates  fixed by the Trustee and, in case of the distribution of such moneys on account of principal or  

 

  -24-  ActiveUS 168294812v.5  interest, upon presentation of the several Securities in respect of which monies have been  collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such  series in reduced principal amounts in exchange for the presented Securities of like series if only  partially paid, or upon surrender thereof if fully paid:  FIRST:  To the payment of all amounts due to the Trustee or any predecessor  trustee pursuant to Section 6.06;  SECOND:  In case the principal of the Securities of such series in respect of  which moneys have been collected shall not have become and be then due and payable, to the  payment of interest on the Securities of such series in default in the order of the maturity of the  installments of such interest, with interest (to the extent that such interest has been collected by  the Trustee) upon the overdue installments of interest, to the extent permitted by applicable law,  at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount  Securities) specified in such Securities, such payments to be made ratably to the Persons entitled  thereto, without discrimination or preference;  THIRD:  In case the principal of the Securities of such series in respect of which  moneys have been collected shall have become and shall be then due and payable, to the  payment of the whole amount then owing and unpaid upon all the Securities of such series for  principal and interest, with interest upon the overdue principal, and (to the extent that such  interest has been collected by the Trustee) upon overdue installments of interest, to the extent  permitted by applicable law, at the same rate as the rate of interest or Yield to Maturity (in the  case of Original Issue Discount Securities) specified in the Securities of such series; and in case  such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the  Securities of such series, then to the payment of such principal and interest, without preference  or priority of principal over interest, or of interest over principal, or of any installment of interest  over any other installment of interest, or of any Security of such series over any other Security of  such series, ratably to the aggregate of such principal and accrued and unpaid interest; and  FOURTH:  To the payment of the remainder, if any, to the Issuer or any other  Person lawfully entitled thereto.  Section 5.04 Suits for Enforcement.  In case an Event of Default has occurred, has not  been waived and is continuing, the Trustee may in its discretion proceed to protect and enforce  the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee  shall deem most effectual to protect and enforce any such rights, either at law or in equity or in  bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement  contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to  enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.  Section 5.05 Restoration of Rights on Abandonment of Proceedings.  In case the  Trustee shall have proceeded to enforce any right under this Indenture and such proceedings  shall have been discontinued or abandoned for any reason, or shall have been determined  adversely to the Trustee, then and in every such case (subject to any determination in such  proceeding) the Issuer and the Trustee shall be restored respectively to their former positions and  

 

  -25-  ActiveUS 168294812v.5  rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the  Securityholders shall continue as though no such proceedings had been taken.  Section 5.06 Limitations on Suits by Securityholders.  No Holder of any Security of any  series shall have any right by virtue, or by availing itself, of any provision of this Indenture to  institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under  or with respect to this Indenture, or for the appointment of a trustee, receiver, liquidator,  custodian or other similar official or for any other remedy hereunder, unless such Holder  previously shall have given to the Trustee written notice of default and of the continuance  thereof, as hereinbefore provided, and unless also the Holders of not less than 25% in aggregate  principal amount of the Securities of such series then Outstanding shall have made written  request upon the Trustee to institute such action or proceedings in its own name as trustee  hereunder and shall have offered to the Trustee such reasonable indemnity as it may require  against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60  days after its receipt of such notice, request and offer of indemnity shall have failed to institute  any such action or proceeding and no direction inconsistent with such written request shall have  been given to the Trustee pursuant to Section 5.09; it being understood and intended, and being  expressly covenanted by the Holder of every Security of a particular series with every other  Holder of Securities of such series and the Trustee, that no one or more Holders of Securities of  any series shall have any right in any manner whatever by virtue or by availing of any provision  of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities  of such series, or to obtain or seek to obtain priority over or preference to any other such Holder  of such series or to enforce any right under this Indenture, except in the manner herein provided  and for the equal, ratable and common benefit of all Holders of Securities of the applicable  series.  For the protection and enforcement of the provisions of this Section, each and every  Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in  equity.  Section 5.07 Unconditional Right of Securityholders to Institute Certain Suits.   Notwithstanding any other provision in this Indenture and any provision of any Security, the  right of any Holder of any Security to receive payment of the principal of and interest on such  Security on or after the respective due dates expressed in such Security in accordance with the  terms hereof and thereof, or to institute suit for the enforcement of any such payment on or after  such respective dates, shall not be impaired or affected without the consent of such Holder; it  being understood and intended, and being expressly covenanted by the Holder of every Security  of a particular series with every other Holder of Securities of such Series and the Trustee, that no  one or more Holders of Securities of any series shall have any right in any manner whatever by  virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of  any other such Holder of Securities of such series, or to obtain or seek to obtain priority over or  preference to any other such Holder of Securities of such series or to enforce any right under this  Indenture, except in the manner herein provided and for the equal, ratable and common benefit  of all Holders of Securities of the applicable series.  For the protection and enforcement of the  provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such  relief as can be given either at law or in equity.  Section 5.08 Powers and Remedies Cumulative; Delay or Omission Not Waiver of  Default.  Except as provided in Section 5.06, no right or remedy herein conferred upon or  

 

  -26-  ActiveUS 168294812v.5  reserved to the Trustee or to the Holders of Securities is intended to be exclusive of any other  right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative  and in addition to every other right and remedy given hereunder or now or hereafter existing at  law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or  otherwise, shall not prevent the concurrent assertion or employment of any other appropriate  right or remedy.  No delay or omission of the Trustee or of any Holder of Securities to exercise any right  or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair  any such right or power or shall be construed to be a waiver of any such Event of Default or an  acquiescence therein; and, subject to Section 5.06, every power and remedy given by this  Indenture or by law to the Trustee or to the Holders of Securities may be exercised from time to  time, and as often as shall be deemed expedient, by the Trustee or by the Holders of Securities.  Section 5.09 Control by Holders of Securities.  The Holders of a majority in aggregate  principal amount of the Securities of each series affected (with each series voting as a separate  class) at the time Outstanding shall have the right to direct the time, method and place of  conducting any proceeding for any remedy available to the Trustee, or exercising any trust or  power conferred on the Trustee with respect to the Securities of such series by this Indenture;  provided, that such direction shall not be otherwise than in accordance with law and the  provisions of this Indenture and provided, further, that (subject to the provisions of Section 6.01)  the Trustee shall have the right to decline to follow any such direction if the Trustee, being  advised by counsel, shall determine that the action or proceeding so directed may not lawfully be  taken or if the Trustee in good faith by its board of directors, the executive committee, or a trust  committee of directors or Responsible Officers of the Trustee shall determine that the action or  proceedings so directed would involve the Trustee in personal liability or if the Trustee in good  faith shall so determine that the actions or forbearances specified in or pursuant to such direction  would be unduly prejudicial to the interests of Holders of the Securities of all series so affected  not joining in the giving of said direction, it being understood that (subject to Section 6.01) the  Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly  prejudicial to such Holders.  Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any  action deemed proper by the Trustee and which is not inconsistent with such direction or  directions by Securityholders.  Section 5.10 Waiver of Past Defaults.  The Holders of a majority in aggregate principal  amount of the Securities of any series at the time Outstanding, by notice to the Trustee, may on  behalf of the Holders of all the Securities of such series waive any existing default in the  performance of any of the covenants contained herein or established pursuant to Section 2.03  with respect to such series and its consequences, except an uncured default in the payment of the  principal of, or interest on, any of the Securities of that series as and when the same shall become  due by the terms of such Securities; and may rescind an acceleration and its consequences,  including any related payment default that resulted from such acceleration.  In the case of any  such waiver, the Issuer, the Trustee and the Holders of the Securities of such series shall be  restored to their former positions and rights hereunder, respectively, such default shall cease to  exist and be deemed to have been cured and not to have occurred, and any Event of Default  

 

  -27-  ActiveUS 168294812v.5  arising therefrom shall be deemed to have been cured, and not to have occurred for every  purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or  Event of Default or impair any right consequent thereon.  Section 5.11 Trustee to Give Notice of Default.  The Trustee shall, within 90 days after  the occurrence of a default with respect to the Securities of any series, give notice of all defaults  with respect to that series known to the Trustee to all Holders of Securities of such series in the  manner and to the extent provided in Sections 4.03 and 11.04, unless in each case such defaults  shall have been cured before the giving of such notice (the term “defaults” for the purpose of  this Section being hereby defined to mean any event or condition which is, or with notice or  lapse of time or both would become, an Event of Default); provided, that, except in the case of  default in the payment of the principal of or interest on any of the Securities of such series, or in  the payment of any sinking fund installment on such series, the Trustee shall be protected in  withholding such notice if and so long as the board of directors, the executive committee, or a  trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith  determines that the withholding of such notice is in the interests of the Securityholders of such  series.  Section 5.12 Right of Court to Require Filing of Undertaking to Pay Costs.  All parties  to this Indenture agree, and each Holder of any Security by his or her acceptance thereof shall be  deemed to have agreed, that any court may in its discretion require, in any suit for the  enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any  action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an  undertaking to pay the costs of such suit, and that such court may in its discretion assess  reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,  having due regard to the merits and good faith of the claims or defenses made by such party  litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to  any suit instituted by any Securityholder or group of Securityholders of any series holding in the  aggregate more than 10% in aggregate principal amount of the Securities of such series, or to any  suit instituted by any Securityholder for the enforcement of the payment of the principal of or  interest on any Security of such series, on or after the respective due dates expressed in such  Security or established pursuant to this Indenture.  ARTICLE 6  CONCERNING THE TRUSTEE  Section 6.01 Duties and Responsibilities of the Trustee; During Default; Prior to  Default.  With respect to the Holders of any series of Securities issued hereunder, the Trustee,  prior to the occurrence of an Event of Default with respect to the Securities of a particular series  and after the curing or waiving of all Events of Default which may have occurred with respect to  such series, undertakes to perform such duties and only such duties as are specifically set forth in  this Indenture.  In case an Event of Default with respect to the Securities of a series has occurred  (and has not been cured or waived), the Trustee shall exercise such of the rights and powers  vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a  prudent person would exercise or use under the circumstances in the conduct of his or her own  affairs.  

 

  -28-  ActiveUS 168294812v.5  No provision of this Indenture shall be construed to relieve the Trustee from liability for  its own negligent action, its own negligent failure to act or its own willful misconduct.  Section 6.02 Certain Rights of the Trustee.  In furtherance of and subject to the Trust  Indenture Act of 1939 and subject to Section 6.01:  (a) in the absence of bad faith on the part of the Trustee, the Trustee may  conclusively rely, as to the truth of the statements and the correctness of the opinions expressed  therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to  the requirements of this Indenture; but, in the case of any such statements, certificates or  opinions which by any provision hereof are specifically required to be furnished to the Trustee,  the Trustee shall be under a duty to examine the same to determine whether or not they conform  to the requirements of this Indenture;  (b) the Trustee shall not be liable for any error of judgment made in good faith  by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the  Trustee was negligent in ascertaining the pertinent facts;  (c) the Trustee shall not be liable with respect to any action taken or omitted  to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section  5.09 relating to the time, method and place of conducting any proceeding for any remedy  available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this  Indenture;  (d) none of the provisions contained in this Indenture shall require the Trustee  to expend or risk its own funds or otherwise incur personal financial liability in the performance  of any of its duties or in the exercise of any of its rights or powers if there shall be reasonable  ground for believing that the repayment of such funds or adequate indemnity against such  liability is not reasonably assured to it;  (e) the Trustee may rely and shall be protected in acting or refraining from  acting upon any resolution, Officer’s Certificate or any other certificate, statement, instrument,  opinion, report, notice, request, consent, order, bond, debenture, note, security or other paper or  document believed by it to be genuine and to have been signed or presented by the proper party  or parties;  (f) any request, direction, order or demand of the Issuer mentioned herein  shall be sufficiently evidenced by an Officer’s Certificate (unless other evidence in respect  thereof be herein specifically prescribed); and any resolution of the Board of Directors may be  evidenced to the Trustee by a copy thereof certified by the secretary or an assistant secretary of  the Issuer;  (g) the Trustee may consult with counsel and any advice or Opinion of  Counsel shall be full and complete authorization and protection in respect of any action taken,  suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice  or Opinion of Counsel;  

 

  -29-  ActiveUS 168294812v.5  (h) the Trustee shall be under no obligation to exercise any of the trusts or  powers vested in it by this Indenture at the request, order or direction of any of the  Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall  have offered to the Trustee reasonable security or indemnity against the costs, expenses and  liabilities that might be incurred therein or thereby;  (i) the Trustee shall not be liable for any action taken or omitted by it in good  faith and believed by it to be authorized or within the discretion, rights or powers conferred upon  it by this Indenture;  (j) prior to the occurrence of an Event of Default hereunder and after the  curing or waiving of all Events of Default, the Trustee shall not be bound to make any  investigation into the facts or matters stated in any resolution, certificate, statement, instrument,  opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note,  security, or other paper or document unless requested in writing so to do by the Holders of not  less than a majority in aggregate principal amount of the Securities of all series affected then  Outstanding; provided, that, if the payment within a reasonable time to the Trustee of the costs,  expenses or liabilities likely to be incurred by it in the making of such investigation is, in the  opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the  terms of this Indenture, the Trustee may require reasonable indemnity against such expenses or  liabilities as a condition to proceeding; the reasonable expenses of every such investigation shall  be paid by the Issuer or, if paid by the Trustee or any predecessor trustee, shall be repaid by the  Issuer upon demand; and  (k) the Trustee may execute any of the trusts or powers hereunder or perform  any duties hereunder either directly or by or through agents or attorneys not regularly in its  employ and the Trustee shall not be responsible for any misconduct or negligence on the part of  any such agent or attorney appointed with due care by it hereunder.  Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or  Application of Proceeds Thereof.  The recitals contained herein and in the Securities, except the  Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and the  Trustee assumes no responsibility for the correctness of the same.  The Trustee makes no  representation as to the validity or sufficiency of this Indenture or of the Securities.  The Trustee  shall not be accountable for the use or application by the Issuer of any of the Securities or of the  proceeds thereof.  Section 6.04 Trustee and Agents May Hold Securities; Collections, Etc.  The Trustee or  any agent of the Issuer or the Trustee, in its individual or any other capacity, may become the  owner or pledgee of Securities with the same rights it would have if it were not the Trustee or  such agent and may otherwise deal with the Issuer and receive, collect, hold and retain  collections from the Issuer with the same rights it would have if it were not the Trustee or such  agent.  Section 6.05 Moneys Held by Trustee.  Subject to the provisions of Section 10.04  hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held  in trust for the purposes for which they were received, but need not be segregated from other  

 

  -30-  ActiveUS 168294812v.5  funds except to the extent required by mandatory provisions of law.  Neither the Trustee nor any  agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received  by it hereunder.  Section 6.06 Compensation and Indemnification of Trustee and Its Prior Claim.  The  Issuer covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be  entitled to, such reasonable compensation (which shall not be limited by any provision of law in  regard to the compensation of a trustee of an express trust) as the Issuer and the Trustee may  from time to time agree in writing and, except as otherwise expressly provided herein, the Issuer  covenants and agrees to pay or reimburse the Trustee and each predecessor trustee upon its  request for all reasonable expenses, disbursements and advances incurred or made by or on  behalf of it in accordance with any of the provisions of this Indenture (including the reasonable  compensation and the expenses and disbursements of its counsel and of all agents and other  persons not regularly in its employ) except any such expense, disbursement or advance as may  arise from its negligence or bad faith.  The Issuer also covenants to indemnify the Trustee and  each predecessor trustee for, and to hold it harmless against, any loss, liability or expense  incurred without negligence or bad faith on its part, arising out of or in connection with the  acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder,  including the costs and expenses of defending itself against or investigating any claim of liability  in the premises.  The obligations of the Issuer under this Section to compensate and indemnify  the Trustee and each predecessor trustee and to pay or reimburse the Trustee and each  predecessor trustee for expenses, disbursements and advances shall constitute additional  indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture.  Such  additional indebtedness shall be a senior claim to that of the Securities upon all property and  funds held or collected by the Trustee as such, except funds held in trust for the benefit of the  Holders of particular Securities, and the Securities are hereby subordinated to such senior claim.  Section 6.07 Right of Trustee to Rely on Officer’s Certificate, Etc.  Subject to Sections  6.01 and 6.02, whenever in the administration of the trusts of this Indenture the Trustee shall  deem it necessary or desirable that a matter be proved or established prior to taking or suffering  or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein  specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee,  be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the  Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee,  shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the  provisions of this Indenture upon the faith thereof.    Section 6.08 Disqualification; Conflicting Interests.  If the Trustee has or shall acquire  any "conflicting interest" within the meaning of Section 310(b) of the Trust Indenture Act, the  Trustee and the Issuer shall in all respects comply with the provisions of Section 310(b) of the  Trust Indenture Act.  Section 6.09 Persons Eligible for Appointment as Trustee.  The Trustee for each series  of Securities hereunder shall at all times be a corporation having a combined capital and surplus  of at least $50,000,000 and shall be eligible in accordance with the provisions of Section 310(a)  of the Trust Indenture Act of 1939.  If such corporation publishes reports of condition at least  annually, pursuant to law or to the requirements of a Federal, State or District of Columbia  

 

  -31-  ActiveUS 168294812v.5  supervising or examining authority, then, for the purposes of this Section, the combined capital  and surplus of such corporation shall be deemed to be its combined capital and surplus as set  forth in its most recent report of condition so published.  Section 6.10 Resignation and Removal; Appointment of Successor Trustee.  (a)  The  Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one  or more or all series of Securities by giving written notice of resignation to the Issuer and by  delivering notice of such resignation to the Holders of then Outstanding Securities of each series  affected at their addresses as they shall appear on the Security register.  Upon receiving such  notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with  respect to the applicable series by written instrument in duplicate, executed by authority of the  Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and  one copy to the successor trustee or trustees.  If no successor trustee shall have been so appointed  with respect to any series and have accepted appointment within 30 days after the delivery of  such notice of resignation, the resigning trustee may petition any court of competent jurisdiction  for the appointment of a successor trustee, or any Securityholder who has been a bona fide  Holder of a Security or Securities of the applicable series for at least six months may, on behalf  of himself or herself and all others similarly situated, petition any such court for the appointment  of a successor trustee.  Such court may thereupon, after such notice, if any, as it may deem  proper and prescribe, appoint a successor trustee.  (b) In case at any time any of the following shall occur:  (i) the Trustee shall fail to comply with the provisions of Section  310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities  after written request therefor by the Issuer or by any Securityholder who has been  a bona fide Holder of a Security or Securities of such series for at least six  months; or  (ii) the Trustee shall cease to be eligible in accordance with the  provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to  resign after written request therefor by the Issuer or by any Securityholder; or  (iii) the Trustee shall become incapable of acting with respect to any  series of Securities, or shall be adjudged bankrupt or insolvent, or a receiver or  liquidator of the Trustee or of its property shall be appointed, or any public officer  shall take charge or control of the Trustee or of its property or affairs for the  purpose of rehabilitation, conservation or liquidation;  then, in any such case, (A) the Issuer may remove the Trustee with respect to the applicable  series of Securities and appoint a successor trustee for such series by written instrument, in  duplicate, executed by order of the Board of Directors, one copy of which instrument shall be  delivered to the Trustee so removed and one copy to the successor trustee, or, (B) subject to  Section 315(e) of the Trust Indenture Act of 1939, any Securityholder who has been a bona fide  Holder of a Security or Securities of such series for at least six months may on behalf of itself  and all others similarly situated, petition any court of competent jurisdiction for the removal of  the Trustee and the appointment of a successor trustee with respect to such series.  Such court  

 

  -32-  ActiveUS 168294812v.5  may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the  Trustee and appoint a successor trustee.  (c) The Holders of a majority in aggregate principal amount of the Securities  of each series at the time Outstanding may at any time remove the Trustee with respect to  Securities of such series and, with the consent of the Issuer, appoint a successor trustee with  respect to the Securities of such series by delivering to the Trustee so removed, to the successor  trustee so appointed and to the Issuer the evidence provided for in Section 7.01 of the action in  that regard taken by the Securityholders.  (d) Any resignation or removal of the Trustee with respect to any series and  any appointment of a successor trustee with respect to such series pursuant to any of the  provisions of this Section 6.10 shall become effective upon acceptance of appointment by the  successor trustee as provided in Section 6.11.  Section 6.11 Acceptance of Appointment by Successor Trustee.  Any successor trustee  appointed as provided in Section 6.10 shall execute and deliver to the Issuer and to its  predecessor trustee an instrument accepting such appointment hereunder, and thereupon the  resignation or removal of the predecessor trustee with respect to all or any applicable series shall  become effective and such successor trustee, without any further act, deed or conveyance, shall  become vested with all rights, powers, duties and obligations with respect to such series of its  predecessor hereunder, with like effect as if originally named as trustee for such series  hereunder; but, nevertheless, on the written request of the Issuer or of the successor trustee, upon  payment of its charges then unpaid, the trustee ceasing to act shall, subject to Section 10.04, pay  over to the successor trustee all moneys at the time held by it hereunder and shall execute and  deliver an instrument transferring to such successor trustee all such rights, powers, duties and  obligations.  Upon request of any such successor trustee, the Issuer shall execute any and all  instruments in writing for more fully and certainly vesting in and confirming to such successor  trustee all such rights and powers.  Any trustee ceasing to act shall, nevertheless, retain a prior  claim upon all property or funds held or collected by such trustee to secure any amounts then due  it pursuant to the provisions of Section 6.06.  If a successor trustee is appointed with respect to the Securities of one or more (but not  all) series, the Issuer, the predecessor trustee and each successor trustee with respect to the  Securities of any applicable series shall execute and deliver an indenture supplemental hereto  which shall contain such provisions as shall be deemed necessary or desirable to confirm that all  the rights, powers, trusts and duties of the predecessor trustee with respect to the Securities of  any series as to which the predecessor trustee is not retiring shall continue to be vested in the  predecessor trustee, and shall add to or change any of the provisions of this Indenture as shall be  necessary to provide for or facilitate the administration of the trusts hereunder by more than one  trustee, it being understood that nothing herein or in such supplemental indenture shall constitute  such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or  trusts under separate indentures.  No successor trustee with respect to any series of Securities shall accept appointment as  provided in this Section 6.11 unless at the time of such acceptance such successor trustee shall be  

 

  -33-  ActiveUS 168294812v.5  qualified under the provisions of Section 310(b) of the Trust Indenture Act of 1939 and eligible  under the provisions of Section 310(a) of the Trust Indenture Act of 1939.  Upon acceptance of appointment by any successor trustee as provided in this Section  6.11, the Issuer shall deliver notice thereof to the Holders of Securities of each series affected, by  delivering such notice to such Holders at their addresses as they shall appear on the Security  register.  If the acceptance of appointment is substantially contemporaneous with the resignation,  then the notice called for by the preceding sentence may be combined with the notice called for  by Section 6.10.  If the Issuer fails to deliver such notice within ten days after acceptance of  appointment by the successor trustee, the successor trustee shall cause such notice to be given at  the expense of the Issuer.  Section 6.12 Merger, Conversion, Consolidation or Succession to Business of Trustee.   Any corporation into which the Trustee may be merged or converted or with which it may be  consolidated, or any corporation resulting from any merger, conversion or consolidation to which  the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the  Trustee, shall be the successor of the Trustee hereunder; provided, that such corporation shall be  qualified under the provisions of Section 310(b) of the Trust Indenture Act of 1939 and eligible  under the provisions of Section 310(a) of the Trust Indenture Act of 1939, without the execution  or filing of any paper or any further act on the part of any of the parties hereto, anything herein to  the contrary notwithstanding.  In case, at the time such successor to the Trustee shall succeed to the trusts created by this  Indenture, any of the Securities of any series shall have been authenticated but not delivered, any  such successor to the Trustee may adopt the certificate of authentication of any predecessor  trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities  of any series shall not have been authenticated, any successor to the Trustee may authenticate  such Securities either in the name of any predecessor hereunder or in the name of the successor  trustee; and in all such cases such certificate shall have the full force which it is anywhere in the  Securities of such series or in this Indenture provided that the certificate of the Trustee shall  have; provided, that the right to adopt the certificate of authentication of any predecessor trustee  or to authenticate Securities of any series in the name of any predecessor trustee shall apply only  to its successor or successors by merger, conversion or consolidation.  Section 6.13 Preferential Collection of Claims Against the Issuer.  The Trustee shall  comply with Section 311(a) of the Trust Indenture Act of 1939, excluding any creditor  relationship described in Section 311(b) of the Trust Indenture Act of 1939.  A Trustee who has  resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act of 1939 to  the extent included therein.  ARTICLE 7  CONCERNING THE SECURITYHOLDERS  Section 7.01 Evidence of Action Taken by Securityholders.  Any request, demand,  authorization, direction, notice, consent, waiver or other action provided by this Indenture to be  given or taken by a specified percentage in principal amount of the Securityholders of any or all  series may be embodied in and evidenced by one or more instruments of substantially similar  

 

  -34-  ActiveUS 168294812v.5  tenor signed by such specified percentage of Securityholders in person or by agent duly  appointed in writing; and, except as herein otherwise expressly provided, such action shall  become effective when such instrument or instruments are delivered to the Trustee.  Proof of  execution of any instrument or of a writing appointing any such agent shall be sufficient for any  purpose of this Indenture and (subject to Sections 6.01 and 6.02) conclusive in favor of the  Trustee and the Issuer, if made in the manner provided in this Article.  Section 7.02 Proof of Execution of Instruments and of Holding of Securities.  Subject to  Sections 6.01 and 6.02, the execution of any instrument by a Holder or his agent or proxy may be  proved in accordance with such reasonable rules and regulations as may be prescribed by the  Trustee or in such manner as shall be satisfactory to the Trustee.  The holding of Securities shall  be proved by the Security register or by a certificate of the registrar thereof.  The Issuer may set a  record date for purposes of determining the identity of Holders of any series entitled to vote or  consent to any action referred to in Section 7.01, which record date may be set at any time or  from time to time by notice to the Trustee, for any date or dates (in the case of any adjournment  or reconsideration) not more than 60 days nor less than five days prior to the proposed date of  such vote or consent, and thereafter, notwithstanding any other provisions hereof, only Holders  of such series of record on such record date shall be entitled to so vote or give such consent or  revoke such vote or consent.  Notice of such record date may be given before or after any request  for any action referred to in Section 7.01 is made by the Issuer.  Section 7.03 Holders to Be Treated as Owners.  The Issuer, the Trustee and any agent  of the Issuer or of the Trustee may deem and treat the Person in whose name any Security shall  be registered upon the Security register for such series as the absolute owner of such Security  (whether or not such Security shall be overdue and notwithstanding any notation of ownership or  other writing thereon) for the purpose of receiving payment of or on account of the principal of,  and, subject to the provisions of this Indenture, interest on, such Security and for all other  purposes; and neither the Issuer nor the Trustee nor any agent of the Issuer or the Trustee shall be  affected by any notice to the contrary.  All such payments so made to any such Person, or upon  his or her order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy  and discharge the liability for moneys payable.  Section 7.04 Securities Owned by Issuer Deemed Not Outstanding.  In determining  whether the Holders of the requisite aggregate principal amount of Outstanding Securities of any  or all series have concurred in any direction, consent or waiver under this Indenture, Securities  that are owned by the Issuer or any other obligor on the Securities with respect to which such  determination is being made or by any Person directly or indirectly controlling or controlled by  or under direct or indirect common control with the Issuer or any other obligor on the Securities  with respect to which such determination is being made shall be disregarded and deemed not to  be Outstanding for the purpose of any such determination, except that, for the purpose of  determining whether the Trustee shall be protected in relying on any such direction, consent or  waiver, only Securities which the Trustee knows are so owned shall be so disregarded.   Securities so owned which have been pledged in good faith may be regarded as Outstanding if  the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect  to such Securities and that the pledgee is not the Issuer or any other obligor upon the Securities  or any Person directly or indirectly controlling or controlled by or under direct or indirect  common control with the Issuer or any other obligor on the Securities.  In case of a dispute as to  

 

  -35-  ActiveUS 168294812v.5  such right, the advice of counsel shall be full protection in respect of any decision made by the  Trustee in accordance with such advice.  Section 7.05 Right of Revocation of Action Taken.  At any time prior to (but not after)  the evidencing to the Trustee, as provided in Section 7.01, of the taking of any action by the  Holders of the percentage in aggregate principal amount of the Securities of any or all series, as  the case may be, specified in this Indenture in connection with such action, any Holder of a  Security the serial number of which is shown by the evidence to be included among the serial  numbers of the Securities the Holders of which have consented to such action may, by filing  written notice at the Corporate Trust Office and upon proof of holding as provided in this  Article, revoke such action so far as concerns such Security.  Except as aforesaid, any such  action taken by the Holder of any Security shall be conclusive and binding upon such Holder and  upon all future Holders and owners of such Security and of any Securities issued in exchange or  substitution therefor or on registration of transfer thereof, irrespective of whether or not any  notation in regard thereto is made upon any such Security.  Any action taken by the Holders of  the percentage in aggregate principal amount of the Securities of any or all series, as the case  may be, specified in this Indenture in connection with such action shall be conclusively binding  upon the Issuer, the Trustee and the Holders of all the Securities affected by such action.  ARTICLE 8  SUPPLEMENTAL INDENTURES  Section 8.01 Supplemental Indentures Without Consent of Securityholders.  The Issuer,  when authorized by a resolution of its Board of Directors, and the Trustee may from time to time  and at any time, without the consent of any of the Securityholders, enter into an indenture or  indentures supplemental hereto in form satisfactory to the Trustee for one or more of the  following purposes:  (a) to convey, transfer, assign, mortgage or pledge to the Trustee as security  for the Securities of one or more series any property or assets;  (b) to evidence the succession of another Person to the Issuer, or successive  successions, and the assumption by such successor of the covenants, agreements and obligations  of the Issuer pursuant to, or to otherwise comply with, Article 9;  (c) to comply with the requirements of the Commission in order to effect or  maintain the qualification of this Indenture under the Trust Indenture Act of 1939, as amended;  (d) to add to the covenants of the Issuer such further covenants, restrictions,  conditions or provisions as its Board of Directors and the Trustee shall consider to be for the  protection of the Holders of Securities, and to make the occurrence, or the occurrence and  continuance, of a default in any such additional covenants, restrictions, conditions or provisions  an Event of Default permitting the enforcement of all or any of the several remedies provided in  this Indenture as herein set forth; provided, that in respect of any such additional covenant,  restriction, condition or provision such supplemental indenture may provide for a particular  period of grace after default (which period may be shorter or longer than that allowed in the case  of other defaults) or may provide for an immediate enforcement upon such an Event of Default  

 

  -36-  ActiveUS 168294812v.5  or may limit the remedies available to the Trustee upon such an Event of Default or may limit the  right of the Holders of a majority in aggregate principal amount of the Securities of such series to  waive such an Event of Default;  (e) to cure any ambiguity, defect or inconsistency, or to conform this  Indenture or any supplemental indenture to the description of the Securities set forth in any  prospectus, prospectus supplement or offering memorandum related to such series of Securities;  (f) to provide for or add guarantors for the Securities of one or more series;  (g) to establish the form or terms of Securities of any series as permitted by  Sections 2.01 and 2.03;  (h) to evidence and provide for the acceptance of appointment hereunder by a  successor trustee with respect to the Securities of one or more series and to add to or change any  of the provisions of this Indenture as shall be necessary to provide for or facilitate the  administration of the trusts hereunder by more than one trustee, pursuant to the requirements of  Section 6.11;  (i) to add to, change or eliminate any of the provisions of this Indenture in  respect of one or more series of Securities; provided that any such addition, change or  elimination shall (A) not (i) apply to any Security of any series created prior to the execution of  such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the  rights of the Holder of any such Security with respect to such provision or (B) shall become  effective only when there is no Security described in clause (A)(i) Outstanding;  (j) to make any change to the Securities of any series so long as no Securities  of such series are Outstanding; and  (k) to make any other change that does not adversely affect the interests of the  Holders of the Securities in any material respect.  The Trustee shall join with the Issuer in the execution of any such supplemental  indenture, to make any further appropriate agreements and stipulations which may be therein  contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any  property thereunder, but the Trustee shall not be obligated to enter into any such supplemental  indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or  otherwise.  Any supplemental indenture authorized by the provisions of this Section may be executed  without the consent of the Holders of any of the Securities at the time Outstanding,  notwithstanding any of the provisions of Section 8.02.  Section 8.02 Supplemental Indentures With Consent of Securityholders.  With the  consent (evidenced as provided in Article 7) of the Holders of not less than a majority in  aggregate principal amount of the Securities at the time Outstanding of one or more series  affected by such supplemental indenture (voting as separate series), the Issuer, when authorized  by a resolution of the Board of Directors, and the Trustee may, from time to time and at any  

 

  -37-  ActiveUS 168294812v.5  time, enter into an indenture or indentures supplemental hereto for the purpose of adding any  provisions to or changing in any manner or eliminating any of the provisions of this Indenture or  of any supplemental indenture or of modifying in any manner the rights of the Holders of the  Securities of each such consenting series; provided, that no such supplemental indenture shall,  without the consent of the Holder of each Security so affected, (a) extend the final maturity of  any Security, or reduce the principal amount thereof, or reduce the rate or extend the time of  payment of interest thereon, or reduce any amount payable on redemption thereof, or make the  principal thereof (including any amount in respect of original issue discount) or interest thereon  payable in any currency other than that provided in the Securities or in accordance with the terms  thereof, or reduce the amount of the principal of an Original Issue Discount Security that would  be due and payable upon an acceleration of the maturity thereof pursuant to Section 5.01 or the  amount thereof provable in bankruptcy pursuant to Section 5.02, or (b) waive a continuing  default in the payment of principal of any Security or interest thereon, other than any such  default in payment that resulted solely from such acceleration, or change a provision related to  the waiver of past defaults or impair the right of any Securityholder to institute suit for the  enforcement of any such payment on or after the Stated Maturity or the date of redemption or  conversion of any Security or, if the Securities provide therefor, any right of repayment at the  option of the Securityholder, or (c) modify any of the provisions of this section except to  increase any required percentage or to provide that certain other provisions cannot be modified  or waived without the consent of the Holder of each Security so affected, or (d) make any change  that adversely affects the right to convert or exchange any Security into or for Common Stock or  other securities, cash or other property in accordance with the terms of such Security or (e)  reduce the aforesaid percentage of Securities of any series, the consent of the Holders of which is  required for any such supplemental indenture or the consent of Holders of which is required for  any modification, amendment or waiver of compliance with certain provisions of this Indenture  or certain defaults hereunder and their consequences provided for in this Indenture.   A supplemental indenture which changes or eliminates any covenant, Event of Default or  other provision of this Indenture (1) that has been expressly included solely for the benefit of one  or more particular series of Securities, if any, or (2) which modifies the rights of Holders of  Securities of one or more series with respect to any covenant, Event of Default or provision, shall  be deemed not to affect the rights under this Indenture of the Holders of Securities of any other  series with respect to which such covenant, Event of Default or other provision has not been  included or so modified.   Upon the request of the Issuer, accompanied by a Board Resolution authorizing the  execution of any such supplemental indenture, and upon the filing with the Trustee of evidence  of the consent of Securityholders as aforesaid and other documents, if any, required by Section  7.01, the Trustee shall join with the Issuer in the execution of such supplemental indenture unless  such supplemental indenture affects the Trustee’s own rights, duties or immunities under this  Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated  to, enter into such supplemental indenture.  It shall not be necessary for the consent of the Securityholders under this Section to  approve the particular form of any proposed supplemental indenture, but it shall be sufficient if  such consent shall approve the substance thereof.  

 

  -38-  ActiveUS 168294812v.5  Promptly after the execution by the Issuer and the Trustee of any supplemental indenture  pursuant to the provisions of this Section, the Trustee shall give a notice thereof to the Holders of  then Outstanding Securities of each series affected thereby, by delivering a notice thereof, and in  each case such notice shall set forth in general terms the substance of such supplemental  indenture.  Any failure of the Trustee to deliver such notice, or any defect therein, shall not,  however, in any way impair or affect the validity of any such supplemental indenture.  Section 8.03 Effect of Supplemental Indenture.  Upon the execution of any  supplemental indenture pursuant to the provisions hereof, this Indenture shall be and be deemed  to be modified and amended in accordance therewith and the respective rights, limitations of  rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the  Holders of Securities of each series affected thereby shall thereafter be determined, exercised and  enforced hereunder subject in all respects to such modifications and amendments, and all the  terms and conditions of any such supplemental indenture shall be and be deemed to be part of the  terms and conditions of this Indenture for any and all purposes.  Section 8.04 Documents to Be Given to Trustee.  The Trustee, subject to the provisions  of Sections 6.01 and 6.02, may receive an Officer’s Certificate and an Opinion of Counsel as  conclusive evidence that any supplemental indenture executed pursuant to this Article 8 complies  with the applicable provisions of this Indenture.  Section 8.05 Notation on Securities in Respect of Supplemental Indentures.  Securities  of any series authenticated and delivered after the execution of any supplemental indenture  pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for  such series as to any matter provided for by such supplemental indenture or as to any action  taken by Securityholders.  If the Issuer or the Trustee shall so determine, new Securities of any  series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any  modification of this Indenture contained in any such supplemental indenture may be prepared by  the Issuer, authenticated by the Trustee and delivered in exchange for the Securities of such  series then Outstanding.  ARTICLE 9  CONSOLIDATION, MERGER, SALE OR CONVEYANCE  Section 9.01 Issuer May Consolidate, Etc., on Certain Terms.  The Issuer shall not  consolidate with or merge into any other Person (in a transaction in which the Issuer is not the  surviving corporation) or convey, transfer or lease its properties and assets substantially as an  entirety to any Person, unless (a) the Person formed by such consolidation or into which the  Issuer is merged or the Person which acquires by conveyance or transfer, or which leases, the  properties and assets of the Issuer substantially as an entirety (i) shall be a corporation, limited  liability company, partnership or trust, (ii) shall be organized and validly existing under the laws  of the United States of America, any State thereof or the District of Columbia and (iii) shall  expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in  form satisfactory to the Trustee, the due and punctual payment of the principal, interest on and  any Additional Amounts with respect to all the Securities and the performance or observance of  every covenant of this Indenture on the part of the Issuer to be performed, by supplemental  indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the  

 

  -39-  ActiveUS 168294812v.5  Person formed by such consolidation or into which the Issuer shall have been merged or by the  Person which shall have acquired the Issuer’s assets; (b) immediately after giving effect to such  transaction, no Event of Default, and no event which, after notice or lapse of time or both, would  become an Event of Default, shall have happened and be continuing; and (c) the Issuer has  delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that  such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is  required in connection with such transaction, such supplemental indenture comply with this  Article and that all conditions precedent herein provided for relating to such transaction have  been complied with.  The restrictions in this Section 9.01 shall not apply to (i) the merger or consolidation of  the Issuer with one of its affiliates, if the Board of Directors determines in good faith that the  purpose of such transaction is principally to change the Issuer’s State of incorporation or convert  the Issuer’s form of organization to another form, or (ii) the merger of the Issuer with or into a  single direct or indirect wholly owned Subsidiary.  Section 9.02 Successor Issuer Substituted.  Upon any consolidation of the Issuer with,  or merger of the Issuer into, any other Person or any conveyance, transfer or lease of the  properties and assets of the Issuer substantially as an entirety in accordance with Section 9.01,  the successor Person formed by such consolidation or into which the Issuer is merged or to  which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and  may exercise every right and power of, the Issuer under this Indenture with the same effect as if  such successor Person had been named as the Issuer herein, and thereafter, except in the case of a  lease, the predecessor Person shall be relieved of all obligations and covenants under this  Indenture and the Securities.  In case of any such consolidation, merger, sale, lease or conveyance, such changes in  phraseology and form (but not in substance) may be made in the Securities thereafter to be issued  as may be appropriate.  ARTICLE 10  SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE;  UNCLAIMED MONEYS  Section 10.01 Satisfaction and Discharge of Indenture; Defeasance.  (a)  If at any time   (i) the Issuer shall have paid or caused to be paid the principal of and  interest on and any Additional Amounts with respect to all the Securities of any  series Outstanding hereunder (other than Securities of such series which have  been destroyed, lost or stolen and which have been replaced or paid as provided in  Section 2.09) as and when the same shall have become due and payable, or   (ii) the Issuer shall have delivered to the Trustee for cancellation all  Securities of any series theretofore authenticated (other than any Securities of  such series which shall have been destroyed, lost or stolen and which shall have  been replaced or paid as provided in Section 2.09); or   

 

  -40-  ActiveUS 168294812v.5  (iii) in the case of any series of Securities the exact amount (including  the currency of payment) of principal of and interest and Additional Amounts due  on which on the dates referred to in clause (B) below can be determined at the  time of making the deposit referred to in such clause,   (A) all the Securities of such series not theretofore delivered to  the Trustee for cancellation shall have become due and payable, or are by  their terms to become due and payable within one year or are to be called  for redemption within one year in accordance with their terms under  arrangements satisfactory to the Trustee for the giving of notice of  redemption, and   (B) the Issuer shall have irrevocably deposited or caused to be  deposited with the Trustee as trust funds the entire amount (i) in the case  of any series of Securities the payments on which may only be made in  Dollars, in Dollars (other than moneys repaid by the Trustee or any paying  agent to the Issuer in accordance with Section 10.04) and/or U.S.  Government Obligations maturing as to principal and interest in such  amounts and at such times as will insure the availability of cash in such  currency, or (ii) in the case of any series of Securities the payments on  which may only be made in a Foreign Currency, in such Foreign Currency  (other than moneys repaid by the Trustee or any paying agent to the Issuer  in accordance with Section 10.04) and/or Foreign Government Obligations  maturing as to principal and interest in such amounts and at such times as  will insure the availability of cash in such currency, in each case sufficient  to pay on any subsequent Interest Payment Date all interest due on such  Interest Payment Date on the Securities of such series and to pay at  maturity or upon redemption all Securities of such series (in each case  other than any Securities of such series which shall have been destroyed,  lost or stolen and which shall have been replaced or paid as provided in  Section 2.09) not theretofore delivered to the Trustee for cancellation,  including principal, interest and Additional Amounts due or to become  due to such date of maturity, as the case may be,  and if, in a case described in Section 10.01(a)(iii)(B), the Issuer shall also pay or cause to be paid  all other sums payable hereunder by the Issuer, including amounts due the Trustee pursuant to  Section 6.06, with respect to Securities of such series, then this Indenture shall cease to be of  further effect with respect to Securities of such series (except as to (1) rights of registration of  transfer, conversion and exchange of Securities of such series and the Issuer’s right of optional  redemption, (2) substitution of mutilated, defaced, destroyed, lost or stolen Securities, (3) rights  of Holders of Securities to receive, solely from the trust fund described in Section  10.01(a)(iii)(B), payments of principal thereof and interest thereon, upon the original stated due  dates therefor (but not upon acceleration) and remaining rights of the Holders to receive, solely  from the trust fund described in Section 10.01(a)(iii)(B), sinking fund payments, if any, (4) the  rights (including the Trustee’s rights under Section 10.05) and immunities of the Trustee  hereunder and the Trustee’s obligations under Sections 10.02 and 10.04 and (5) the obligations  of the Issuer under Section 3.02), and the Trustee, on demand of the Issuer accompanied by an  

 

  -41-  ActiveUS 168294812v.5  Officer’s Certificate and an Opinion of Counsel which complies with Section 11.05 and at the  cost and expense of the Issuer, shall execute proper instruments acknowledging such satisfaction  of and discharging this Indenture with respect to such series.  The Issuer agrees to reimburse the  Trustee for any costs or expenses thereafter reasonably and properly incurred and to compensate  the Trustee for any services thereafter reasonably and properly rendered by the Trustee in  connection with this Indenture or the Securities of such series.  (b) The following subsection shall apply to the Securities of each series unless  specifically otherwise provided in a Board Resolution, Officer’s Certificate or indenture  supplemental hereto pursuant to Section 2.03.  In addition to the right to discharge of the  Indenture pursuant to subsection (a) above, the Issuer, at its option and at any time, by written  notice by an officer delivered to the Trustee, may elect to have all of its obligations with respect  to all Outstanding Securities of a series discharged (“Legal Defeasance”), such discharge to be  effective on the date that the conditions set forth in clauses (i) through (iv) and (vi) of Section  10.01(d) are satisfied, and thereafter the Issuer shall be deemed to have paid and discharged the  entire Debt on all the Securities of such series, and satisfied all its other obligations under such  Securities and this Indenture insofar as such Securities are concerned and this Indenture shall  cease to be of further effect with respect to Securities of such series (except as to (1) rights of  registration of transfer, conversion and exchange of Securities of such series, (2) substitution of  apparently mutilated, defaced, destroyed, lost or stolen Securities, (3) rights of Holders of  Securities to receive, solely from the trust fund described in Section 10.01(d)(i), payments of  principal thereof, interest thereon and any Additional Amounts, upon the original Stated  Maturities therefor (but not upon acceleration) and remaining rights of the Holders to receive,  solely from the trust fund described in Section 10.01(d)(i), sinking fund payments, if any, (4) the  rights (including the Trustee’s rights under Section 10.05) and immunities of the Trustee  hereunder and the Trustee’s obligations with respect to the Securities of such series under  Sections 10.02 and 10.04 and (5) the obligations of the Issuer under Section 3.02).  (c) The following subsection shall apply to the Securities of each series unless  specifically otherwise provided in a Board Resolution, Officer’s Certificate or indenture  supplemental hereto provided pursuant to Section 2.03.  In addition to the right to discharge of  the Indenture pursuant to subsection (a) and to Legal Defeasance pursuant to subsection (b),  above, the Issuer, at its option and at any time, by written notice executed by an officer delivered  to the Trustee, may elect to have its obligations under any covenant contained in this Indenture  or in the Board Resolution or supplemental indenture relating to such series pursuant to Section  2.03 discharged with respect to all Outstanding Securities of a series, this Indenture and any  indentures supplemental to this Indenture with respect to such series (“Covenant Defeasance”),  such discharge to be effective on the date the conditions set forth in clauses (i) through (iii) and  (v) through (vi) of Section 10.01(d) are satisfied, and such Securities shall thereafter be deemed  to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration of  Securityholders (and any consequences thereof) in connection with such covenants, but shall  continue to be “Outstanding” for all other purposes under this Indenture.  For this purpose, such  Covenant Defeasance means that, with respect to the Outstanding Securities of a series, the  Issuer may omit to comply with and shall have no liability in respect of any term, condition or  limitation set forth in any such covenant, whether directly or indirectly, by reason of any  reference elsewhere herein to any such covenant or by reason of reference in any such covenant  to any other provision herein or in any other document and such omission to comply shall not  

 

  -42-  ActiveUS 168294812v.5  constitute an Event of Default under Section 5.01(c) or otherwise, but except as specified in this  Section 10.01(c), the remainder of the Issuer’s obligations under the Securities of such series,  this Indenture, and any indentures supplemental to this Indenture with respect to such series shall  be unaffected thereby.  (d) The following shall be the conditions to the application of Legal  Defeasance (to the extent set forth in subsection (b)), or Covenant Defeasance (to the extent set  forth in subsection (c)) to the Securities of the applicable series:  (i) the Issuer irrevocably deposits or causes to be deposited in trust  with the Trustee or, at the option of the Trustee, with a trustee satisfactory to the  Trustee and the Company under the terms of an irrevocable trust agreement in  form and substance satisfactory to the Trustee, (i) in the case of any series of  Securities the payments on which may only be made in Dollars, Dollars (other  than moneys repaid by the Trustee or any paying agent to the Issuer in accordance  with Section 10.04) and/or U.S. Government Obligations maturing as to principal  and interest in such amounts and at such times as will insure the availability of  cash in such currency, or (ii) in the case of any series of Securities the payments  on which may only be made in a Foreign Currency, such Foreign Currency (other  than moneys repaid by the Trustee or any paying agent to the Issuer in accordance  with Section 10.04) and/or Foreign Government Obligations maturing as to  principal and interest in such amounts and at such times as will insure the  availability of cash in such currency, in each case sufficient to pay on any  subsequent Interest Payment Date all interest due on such Interest Payment Date  on the Securities of such series and to pay at maturity or upon redemption all  Securities of such series (in each case other than any Securities of such series  which shall have been destroyed, lost or stolen and which shall have been  replaced or paid as provided in Section 2.09) not theretofore delivered to the  Trustee for cancellation, including principal, interest and Additional Amounts due  or to become due to such date of maturity, as the case may be;  (ii) the Issuer delivers to the Trustee an Officer’s Certificate stating  that all conditions precedent specified herein relating to Legal Defeasance or  Covenant Defeasance, as the case may be, have been complied with, and an  Opinion of Counsel to the same effect;  (iii) no Event of Default under subsection (a), (b), (d) or (e) of Section  5.01 shall have occurred and be continuing, and no event which with notice or  lapse of time or both would become such an Event of Default shall have occurred  and be continuing, on the date of such deposit;  (iv) in the event of an election for Legal Defeasance under subsection  (b), the Issuer shall have delivered to the Trustee an Opinion of Counsel stating  that (A) the Issuer has received from, or there has been published by, the Internal  Revenue Service a ruling or (B) since the date of this instrument, there has been a  change in the applicable Federal income tax law, in either case (A) or (B) to the  effect that, and based thereon such opinion shall confirm that, the Holders of such  

 

  -43-  ActiveUS 168294812v.5  Securities will not recognize gain or loss for Federal income tax purposes as a  result of the deposit, defeasance and discharge to be effected with respect to such  Securities and will be subject to Federal income tax on the same amounts, in the  same manner and at the same times as would be the case if such deposit,  defeasance and discharge were not to occur;  (v) in the event of an election for Covenant Defeasance under  subsection (c), the Issuer shall have delivered to the Trustee an Opinion of  Counsel to the effect that the Holders of such Securities will not recognize gain or  loss for Federal income tax purposes as a result of the deposit and Covenant  Defeasance to be effected with respect to such Securities and will be subject to  Federal income tax on the same amount, in the same manner and at the same  times as would be the case if such deposit and Covenant Defeasance were not to  occur; and   (vi) notwithstanding any other provisions of this subsection (d), such  defeasance shall be effected in compliance with any additional or substitute terms,  conditions or limitations that may be imposed on the Issuer pursuant to Section  2.03.  After such irrevocable deposit made pursuant to this Section 10.01(d) and satisfaction of the  other applicable conditions set forth in this subsection (d), the Trustee upon request shall execute  proper instruments acknowledging the discharge of the Issuer’s obligations pursuant to this  Section 10.01.  Section 10.02 Application by Trustee of Funds Deposited for Payment of Securities.   Subject to Section 10.04, all moneys deposited with the Trustee (or other trustee) pursuant to  Section 10.01 shall be held in trust and applied by it to the payment, either directly or through  any paying agent (including the Issuer acting as its own paying agent), to the Holders of the  particular Securities of such series for the payment or redemption of which such moneys have  been deposited with the Trustee, of all sums due and to become due thereon for principal and  interest; but such money need not be segregated from other funds except to the extent required  by law.  Section 10.03 Repayment of Moneys Held by Paying Agent.  In connection with the  satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys  then held by any paying agent under the provisions of this Indenture with respect to such series  of Securities shall, upon demand of the Issuer, be repaid to it or paid to the Trustee and  thereupon such paying agent shall be released from all further liability with respect to such  moneys.  Section 10.04 Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two  Years.  Any moneys deposited with or paid to the Trustee or any paying agent for the payment of  the principal of, interest on or additional amounts in respect of any Security of any series and not  applied but remaining unclaimed for two years after the date upon which such principal, interest  or additional amount shall have become due and payable, shall be repaid to the Issuer by the  Trustee for such series or such paying agent, and the Holder of the Securities of such series shall  

 

  -44-  ActiveUS 168294812v.5  thereafter look only to the Issuer for any payment which such Holder may be entitled to collect,  and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon  cease.  Section 10.05 Indemnity for U.S. Government Obligations and Foreign Government  Obligations.  The Issuer shall pay and indemnify the Trustee against any tax, fee or other charge  imposed on or assessed against the U.S. Government Obligations or Foreign Government  Obligations deposited pursuant to Section 10.01 or the principal or interest received in respect of  such obligations.  ARTICLE 11  MISCELLANEOUS PROVISIONS  Section 11.01 No Recourse.  No recourse under or upon any obligation, covenant or  agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in  respect thereof, shall be had against any incorporator, stockholder, officer or director, past,  present or future as such, of the Issuer or of any predecessor or successor corporation, either  directly or through the Issuer or any such predecessor or successor corporation, whether by  virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or  penalty or otherwise; it being expressly understood that this Indenture and the obligations issued  hereunder are solely corporate obligations, and that no such personal liability whatever shall  attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as  such, of the Issuer or of any predecessor or successor corporation, or any of them, because of the  creation of the indebtedness hereby authorized, or under or by reason of the obligations,  covenants or agreements contained in this Indenture or in any of the Securities or implied  therefrom; and that any and all such personal liability of every name and nature, either at  common law or in equity or by constitution or statute, of, and any and all such rights and claims  against, every such incorporator, stockholder, officer or director as such, because of the creation  of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or  agreements contained in this Indenture or in any of the Securities or implied therefrom, are  hereby expressly waived and released as a condition of, and as a consideration for, the execution  of this Indenture and the issuance of such Securities.  Section 11.02 Provisions of Indenture for the Sole Benefit of Parties and Holders of  Securities.  Nothing in this Indenture or in the Securities, expressed or implied, shall give or be  construed to give to any person, firm or corporation, other than the parties hereto and their  successors and the Holders of the Securities any legal or equitable right, remedy or claim under  this Indenture or under any covenant or provision herein contained, all such covenants and  provisions being for the sole benefit of the parties hereto and their successors and of the Holders  of the Securities.  Section 11.03 Successors and Assigns of Issuer Bound by Indenture.  All the covenants,  stipulations, promises and agreements contained in this Indenture by or on behalf of the Issuer  shall bind its successors and assigns, whether so expressed or not.  Section 11.04 Notices and Demands on Issuer, Trustee and Holders of Securities.  Any  notice or demand which by any provision of this Indenture is required or permitted to be given or  

 

  -45-  ActiveUS 168294812v.5  served by the Trustee or by the Holders of Securities to or on the Issuer may be delivered, given  or served by being deposited postage prepaid, first-class mail (except as otherwise specifically  provided herein) addressed (until another address of the Issuer is filed by the Issuer with the  Trustee) to Emergent BioSolutions Inc., 400 Professional Drive, Gaithersburg, Maryland 20879,  Attn: Chief Financial Officer.  Any notice, direction, request or demand by the Issuer or any  Holder of Securities to or upon the Trustee shall be deemed to have been sufficiently given or  made, for all purposes, if given or made at _______, ________, Attn: _______.  Where this Indenture provides for notice to Holders of Securities, such notice shall be  sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first- class postage prepaid, to each Holder entitled thereto, at his, her or its last address as it appears in  the Security register.  In case, by reason of the suspension of or irregularities in regular mail  service, it shall be impracticable to mail notice of any event to Holders of Securities when said  notice is required to be given pursuant to any provision of this Indenture or of the Securities, then  any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a  sufficient giving of such notice.    In case, by reason of the suspension of or irregularities in regular mail service, it shall be  impracticable to mail notice to the Issuer when such notice is required to be given pursuant to  any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to  the Trustee shall be deemed to be a sufficient giving of such notice.  Where this Indenture provides for notice of any event to a Holder of a Global Security,  such notice shall be sufficiently given if given to the Depositary for such Security (or its  designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date,  if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice.  Neither the failure to give notice, nor any defect in any notice so given, to any particular  Holder of a Security shall affect the sufficiency of such notice with respect to other Holders of  Securities given as provided above.  Where this Indenture provides for notice in any manner, such notice may be waived in  writing by the Person entitled to receive such notice either before or after the event, and such  waiver shall be the equivalent of such notice.  Waivers of notice by Holders shall be filed with  the Trustee, but such filing shall not be a condition precedent to the validity of any action taken  in reliance upon such waiver.  Section 11.05 Officer’s Certificates and Opinions of Counsel; Statements to Be  Contained Therein.  Upon any application or demand by the Issuer to the Trustee to take any  action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an  Officer’s Certificate stating that all conditions precedent provided for in this Indenture relating to  the proposed action have been complied with and an Opinion of Counsel stating that in the  opinion of such counsel all such conditions precedent have been complied with, except that in  the case of any such application or demand as to which the furnishing of such documents is  specifically required by any provision of this Indenture relating to such particular application or  demand, no additional certificate or opinion need be furnished.  

 

  -46-  ActiveUS 168294812v.5  Each certificate or opinion provided for in this Indenture and delivered to the Trustee  with respect to compliance with a condition or covenant provided for in this Indenture shall  include (a) a statement that the person making such certificate or opinion has read such covenant  or condition, (b) a brief statement as to the nature and scope of the examination or investigation  upon which the statements or opinions contained in such certificate or opinion are based, (c) a  statement that, in the opinion of such person, he or she has made such examination or  investigation as is necessary to enable him or her to express an informed opinion as to whether or  not such covenant or condition has been complied with and (d) a statement as to whether or not,  in the opinion of such person, such condition or covenant has been complied with.    Any certificate, statement or opinion of an officer of the Issuer may be based, insofar as it  relates to legal matters, upon a certificate or opinion of or representations by counsel, unless such  officer knows that the certificate or opinion or representations with respect to the matters upon  which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in  the exercise of reasonable care should know that the same are erroneous.  Any certificate,  statement or opinion of counsel may be based, insofar as it relates to factual matters, information  with respect to which is in the possession of the Issuer, upon the certificate, statement or opinion  of or representations by an officer or officers of the Issuer, unless such counsel knows that the  certificate, statement or opinion or representations with respect to the matters upon which his or  her certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise  of reasonable care should know that the same are erroneous.  Any certificate, statement or opinion of an officer of the Issuer or of counsel may be  based, insofar as it relates to accounting matters, upon a certificate or opinion of or  representations by an accountant or firm of accountants in the employ of the Issuer, unless such  officer or counsel, as the case may be, knows that the certificate or opinion or representations  with respect to the accounting matters upon which his or her certificate, statement or opinion  may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that  the same are erroneous.  Any certificate or opinion of any independent firm of public accountants filed with and  directed to the Trustee shall contain a statement that such firm is independent.  Section 11.06 Payments Due on Saturdays, Sundays and Holidays.  If the date of  maturity of interest on or principal of the Securities of any series or the date fixed for redemption  or repayment of any such Security, or the last day on which a Holder has the right to convert any  Security, shall not be a Business Day, then payment of interest or principal, or any conversion,  need not be made on such date, but may be made on the next succeeding Business Day with the  same force and effect as if made on the date of maturity or the date fixed for redemption or on  such last day for conversion, and no interest shall accrue for the period after such date.  Section 11.07 Conflict of Any Provision of Indenture With Trust Indenture Act of 1939.   If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another  provision included in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust  Indenture Act of 1939, such incorporated provision shall control.  

 

  -47-  ActiveUS 168294812v.5  Section 11.08 New York Law to Govern.  This Indenture and each Security shall be  deemed to be a contract under the laws of the State of New York, and for all purposes shall be  governed by and construed in accordance with the laws of such State without regard to any  principle of conflict of laws that would require or permit the application of the laws of any other  jurisdiction, except as may otherwise be required by mandatory provisions of law.  Section 11.09 Counterparts.  This Indenture may be executed in any number of  counterparts, each of which shall be an original; but such counterparts shall together constitute  but one and the same instrument.  Section 11.10 Effect of Headings.  The Article and Section headings herein and the Table  of Contents are for convenience only and shall not affect the construction hereof.  Section 11.11 Actions by Successor.  Any act or proceeding by any provision of this  Indenture authorized or required to be done or performed by any board of directors or its  equivalent, committee or officer of the Issuer shall and may be done and performed with like  force and effect by the corresponding board, committee or officer of any corporation that shall at  the time be the lawful successor of the Issuer.  Section 11.12 Severability.  In case any one or more of the provisions contained in this  Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or  unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any  other provisions of this Indenture or of such Securities, but this Indenture and such Securities  shall be construed as if such invalid or illegal or unenforceable provision had never been  contained herein or therein.  ARTICLE 12  REDEMPTION OF SECURITIES AND SINKING FUNDS  Section 12.01 Applicability of Article.  The provisions of this Article shall be applicable  to the Securities of any series which are redeemable before their maturity or to any sinking fund  for the retirement of Securities of a series, except as otherwise specified, as contemplated by  Section 2.03 for Securities of such series.  Section 12.02 Notice of Redemption; Partial Redemptions.  Notice of redemption to the  Holders of Securities of any series to be redeemed as a whole or in part at the option of the Issuer  shall be given by providing notice of such redemption at least 30 days and not more than 60 days  prior to the date fixed for redemption to such Holders of Securities of such series at their last  addresses as they shall appear upon the Security register.  Any notice which is given in the  manner herein provided shall be conclusively presumed to have been duly given, whether or not  the Holder receives the notice.  Failure to give notice or any defect in the notice to the Holder of  any Security of a series designated for redemption as a whole or in part shall not affect the  validity of the proceedings for the redemption of any other Security of such series.  The notice of redemption to each such Holder shall specify the principal amount of each  Security of such series held by such Holder to be redeemed, the date fixed for redemption, the  redemption price, the place or places of payment, that payment will be made upon presentation  and surrender of such Securities, that such redemption is pursuant to the mandatory or optional  

 

  -48-  ActiveUS 168294812v.5  sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption  will be paid as specified in such notice and that on and after said date interest thereon or on the  portions thereof to be redeemed will cease to accrue and shall also specify, if applicable, the  conversion price then in effect and the date on which the right to convert such Securities or the  portions thereof to be redeemed will expire.  In case any Security of a series is to be redeemed in  part only, the notice of redemption shall state the portion of the principal amount thereof to be  redeemed and shall state that on and after the date fixed for redemption, upon surrender of such  Security, a new Security or Securities of such series in principal amount equal to the unredeemed  portion thereof will be issued.  The notice of redemption of Securities of any series to be redeemed at the option of the  Issuer shall be given by the Issuer or, at the Issuer’s request, by the Trustee in the name and at  the expense of the Issuer.  On or before the redemption date specified in the notice of redemption given as provided  in this Section, the Issuer will deposit with the Trustee or with one or more paying agents (or, if  the Issuer is acting as its own paying agent, set aside, segregate and hold in trust as provided in  Section 3.04) an amount of money sufficient to redeem on the redemption date all the Securities  of such series so called for redemption (other than those Securities theretofore surrendered for  conversion into Common Stock in accordance with their terms) at the appropriate redemption  price, together with accrued interest to the date fixed for redemption.  If any Security called for  redemption is converted pursuant hereto and in accordance with the terms thereof, any money  deposited with the Trustee or any paying agent or so segregated and held in trust for the  redemption of such Security shall be paid to the Issuer upon the Issuer’s request, or, if then held  by the Issuer, shall be discharged from such trust.  The Issuer will deliver to the Trustee at least  10 days prior to the date the notice required to be delivered to the Holders is to be sent (unless a  shorter time period shall be acceptable to the Trustee) an Officer’s Certificate (which need not  comply with Section 11.05) stating the aggregate principal amount of Securities to be redeemed.   In case of a redemption at the election of the Issuer prior to the expiration of any restriction on  such redemption, the Issuer shall deliver to the Trustee, prior to the giving of any notice of  redemption to Holders pursuant to this Section, an Officer’s Certificate stating that such  restriction has been complied with.  If less than all the Securities of a series are to be redeemed, the Trustee shall select, in  such manner as it shall deem appropriate and fair, Securities of such series to be redeemed in  whole or in part.  Securities may be redeemed in part in multiples equal to the minimum  authorized denomination for Securities of such series or any multiple thereof.  The Trustee shall  promptly notify the Issuer in writing of the Securities of such series selected for redemption and,  in the case of any Securities of such series selected for partial redemption, the principal amount  thereof to be redeemed.  For all purposes of this Indenture, unless the context otherwise requires,  all provisions relating to the redemption of Securities of any series shall relate, in the case of any  Security redeemed or to be redeemed only in part, to the portion of the principal amount of such  Security which has been or is to be redeemed.  If any Security selected for partial redemption is  surrendered for conversion after such selection, the converted portion of such Security shall be  deemed (so far as may be possible) to be the portion selected for redemption.  

 

  -49-  ActiveUS 168294812v.5  Section 12.03 Payment of Securities Called for Redemption.  If notice of redemption has  been given as above provided, the Securities or portions of Securities specified in such notice  shall become due and payable on the date and at the place stated in such notice at the applicable  redemption price, together with interest accrued to the date fixed for redemption, and on and  after said date (unless the Issuer shall default in the payment of such Securities at the redemption  price, together with interest accrued to said date) interest on the Securities or portions of  Securities so called for redemption shall cease to accrue, and such Securities shall cease from  and after the date fixed for redemption to be convertible into Common Stock (to the extent  otherwise convertible in accordance with their terms), if applicable, and cease to be entitled to  any benefit or security under this Indenture, and except as provided in the paragraph below, the  Holders thereof shall have no right in respect of such Securities except the right to receive the  redemption price thereof and unpaid interest to the date fixed for redemption.  On presentation  and surrender of such Securities at a place of payment specified in said notice, said Securities or  the specified portions thereof shall be paid and redeemed by the Issuer at the applicable  redemption price, together with interest accrued thereon to the date fixed for redemption;  provided, that payment of interest becoming due on or prior to the date fixed for redemption  shall be payable to the Holders of such Securities registered as such on the relevant record date  subject to the terms and provisions of Sections 2.03 and 2.07 hereof.  If any Security called for redemption shall not be so paid upon surrender thereof for  redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed  for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue  Discount Security) borne by such Security and, if applicable, such Security shall remain  convertible into Common Stock until the principal of such Security shall have been paid or duly  provided for.  Upon presentation of any Security redeemed in part only, the Issuer shall execute and the  Trustee shall authenticate and deliver to or on the order of the Holder thereof, at the expense of  the Issuer, a new Security or Securities of such series, of authorized denominations, in principal  amount equal to the unredeemed portion of the Security so presented.  Section 12.04 Exclusion of Certain Securities from Eligibility for Selection for  Redemption.  Securities shall be excluded from eligibility for selection for redemption if they are  identified by registration and certificate number in an Officer’s Certificate delivered to the  Trustee at least 40 days prior to the last date on which notice of redemption may be given as  being owned of record and beneficially by, and not pledged or hypothecated by either (a) the  Issuer or (b) an entity specifically identified in such written statement as directly or indirectly  controlling or controlled by or under direct or indirect common control with the Issuer.  Section 12.05 Mandatory and Optional Sinking Funds.  The minimum amount of any  sinking fund payment provided for by the terms of the Securities of any series is herein referred  to as a “mandatory sinking fund payment”, and any payment in excess of such minimum  amount provided for by the terms of the Securities of any series is herein referred to as an  “optional sinking fund payment”.  The date on which a sinking fund payment is to be made is  herein referred to as the “sinking fund payment date”.  

 

  -50-  ActiveUS 168294812v.5  In lieu of making all or any part of any mandatory sinking fund payment with respect to  any series of Securities in cash, the Issuer may at its option (a) deliver to the Trustee Securities  of such series theretofore purchased or otherwise acquired (except upon redemption pursuant to  the mandatory sinking fund) by the Issuer or receive credit for Securities of such series (not  previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the  Issuer and delivered to the Trustee for cancellation pursuant to Section 2.10 and, if applicable,  receive credit for Securities (not previously so credited) converted into Common Stock and so  delivered to the Trustee for cancellation, (b) receive credit for optional sinking fund payments  (not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of  such series (not previously so credited) redeemed by the Issuer through any optional redemption  provision contained in the terms of such series.  Securities so delivered or credited shall be  received or credited by the Trustee at the sinking fund redemption price specified in such  Securities.  On or before the 60th day next preceding each sinking fund payment date for any series,  the Issuer will deliver to the Trustee an Officer’s Certificate (which need not contain the  statements required by Section 11.05) (a) specifying the portion of the mandatory sinking fund  payment to be satisfied by payment of cash and the portion to be satisfied by credit of Securities  of such series and the basis for such credit, (b) stating that none of the Securities of such series  for which credit will be taken has theretofore been so credited, (c) stating that no defaults in the  payment of interest or Events of Default with respect to such series have occurred (which have  not been waived or cured) and are continuing and (d) stating whether or not the Issuer intends to  exercise its right to make an optional sinking fund payment with respect to such series and, if so,  specifying the amount of such optional sinking fund payment which the Issuer intends to pay on  or before the next succeeding sinking fund payment date.  Any Securities of such series to be  credited and required to be delivered to the Trustee in order for the Issuer to be entitled to credit  therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered  for cancellation pursuant to Section 2.10 to the Trustee with such Officer’s Certificate (or  reasonably promptly thereafter if acceptable to the Trustee).  Such Officer’s Certificate shall be  irrevocable and upon its receipt by the Trustee the Issuer shall become unconditionally obligated  to make all the cash payments or payments therein referred to, if any, on or before the next  succeeding sinking fund payment date.  Failure of the Issuer, on or before any such 60th day, to  deliver such Officer’s Certificate and Securities specified in this paragraph, if any, shall not  constitute a default but shall constitute, on and as of such date, the irrevocable election of the  Issuer that the mandatory sinking fund payment for such series due on the next succeeding  sinking fund payment date shall be paid entirely in cash without the option to deliver or credit  Securities of such series in respect thereof.  If the sinking fund payment or payments (mandatory or optional or both) to be made in  cash on the next succeeding sinking fund payment date plus any unused balance of any  preceding sinking fund payments made in cash shall exceed $50,000 (or the equivalent thereof in  any Foreign Currency or a lesser sum in Dollars or in any Foreign Currency if the Issuer shall so  request) with respect to the Securities of any particular series, such cash shall be applied on the  next succeeding sinking fund payment date to the redemption of Securities of such series at the  sinking fund redemption price together with accrued interest to the date fixed for redemption.  If  such amount shall be $50,000 (or the equivalent thereof in any Foreign Currency) or less and the  Issuer makes no such request then it shall be carried over until a sum in excess of $50,000 (or the  

 

  -51-  ActiveUS 168294812v.5  equivalent thereof in any Foreign Currency) is available, which delay in accordance with this  paragraph shall not be a default or breach of the obligation to make such payment.  The Trustee  shall select, in the manner provided in Section 12.02, for redemption on such sinking fund  payment date a sufficient principal amount of Securities of such series to which such cash may  be applied, as nearly as may be, and shall (if requested in writing by the Issuer) inform the Issuer  of the serial numbers of the Securities of such series (or portions thereof) so selected.  The  Trustee, in the name and at the expense of the Issuer (or the Issuer, if it shall so request the  Trustee in writing), shall cause notice of redemption of the Securities of such series to be given  in substantially the manner provided in Section 12.02 (and with the effect provided in Section  12.03) for the redemption of Securities of such series in part at the option of the Issuer.  The  amount of any sinking fund payments not so applied or allocated to the redemption of Securities  of such series shall be added to the next cash sinking fund payment for such series and, together  with such payment, shall be applied in accordance with the provisions of this Section.  Any and  all sinking fund moneys held on the stated maturity date of the Securities of any particular series  (or earlier, if such maturity is accelerated), which are not held for the payment or redemption of  particular Securities of such series, shall be applied, together with other moneys, if necessary,  sufficient for the purpose, to the payment of the principal of, and interest on, the Securities of  such series at maturity.  The Issuer’s obligation to make a mandatory or optional sinking fund  payment shall automatically be reduced by an amount equal to the sinking fund redemption price  allocable to any Securities or portions thereof called for redemption pursuant to the preceding  paragraph on any sinking fund payment date and converted into Common Stock in accordance  with the terms of such Securities; provided that, if the Trustee is not the conversion agent for the  Securities, the Issuer or such conversion agent shall give the Trustee written notice on or prior to  the date fixed for redemption of the principal amount of Securities or portions thereof so  converted.  On or before each sinking fund payment date, the Issuer shall pay to the Trustee in cash  or shall otherwise provide for the payment of all interest accrued to the date fixed for redemption  on Securities to be redeemed on such sinking fund payment date.  The Trustee shall not redeem or cause to be redeemed any Securities of a series with  sinking fund moneys or give any notice of redemption of Securities for such series by operation  of the sinking fund during the continuance of a default in payment of interest on such Securities  or of any Event of Default except that, where providing notice of redemption of any Securities  shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such  Securities, provided that it shall have received from the Issuer a sum sufficient for such  redemption.  Except as aforesaid, any moneys in the sinking fund for such series at the time  when any such default or Event of Default shall occur, and any moneys thereafter paid into the  sinking fund, shall, during the continuance of such default or Event of Default, be deemed to  have been collected under Article 5 and held for the payment of all such Securities.  In case such  Event of Default shall have been waived as provided in Section 5.10, or the default cured on or  before the 60th day preceding the sinking fund payment date in any year, such moneys shall  thereafter be applied on such sinking fund payment date in accordance with this Section to the  redemption of such Securities.  ARTICLE 13  

 

  -52-  ActiveUS 168294812v.5  SUBORDINATION OF SECURITIES  Section 13.01 Agreement of Subordination.  The Issuer covenants and agrees, and each  holder of Securities issued hereunder by its acceptance thereof likewise covenants and agrees,  that all Securities shall be issued subject to the provisions of this Article 13; and each  Securityholder, whether upon original issue or upon transfer or assignment thereof, accepts and  agrees to be bound by such provisions.  The payment of the principal of and interest on all Securities issued hereunder shall, to  the extent and in the manner hereinafter set forth, be subordinated and subject in right of  payment to the prior payment in full of all Senior Indebtedness of the Issuer, whether outstanding  at the date of this Indenture or thereafter incurred.  The provisions of this Article 13 define the subordination of the Securities, as obligations  of the Issuer, with respect to Senior Indebtedness of the Issuer.  No provision of this Article 13 shall prevent the occurrence of any default or Event of  Default hereunder.  Section 13.02 Payments to Securityholders.  In the event and during the continuation of  any default in the payment of principal, premium, interest or any other payment due on any  Senior Indebtedness of the Issuer continuing beyond the period of grace, if any, specified in the  instrument or lease evidencing such Senior Indebtedness of the Issuer, then, unless and until such  default shall have been cured or waived or shall have ceased to exist, no payment shall be made  by the Issuer with respect to the principal of or interest on the Securities, except sinking fund  obligations satisfied by credit of acquired Securities under Section 12.05 prior to the happening  of such default and payments made pursuant to Article 10 hereof from monies deposited with the  Trustee pursuant thereto prior to the happening of such default.  Upon any payment by the Issuer, or distribution of assets of the Issuer of any kind or  character, whether in cash, property or securities, to creditors upon any dissolution or winding-up  or liquidation or reorganization of the Issuer, whether voluntary or involuntary or in bankruptcy,  insolvency, receivership or other proceedings, all amounts due or to become due upon all Senior  Indebtedness of the Issuer shall first be paid in full, or payment thereof provided for in money in  accordance with its terms, before any payment is made on account of the principal or interest on  the Securities (except payments made pursuant to Article 10 hereof from monies deposited with  the Trustee pursuant thereto prior to the happening of such dissolution, winding-up, liquidation  or reorganization); and upon any such dissolution or winding-up or liquidation or reorganization  any payment by the Issuer, or distribution of assets of the Issuer of any kind or character,  whether in cash, property or securities, to which the holders of the Securities or the Trustee  would be entitled, except for the provisions of this Article 13, shall (except as aforesaid) be paid  by the Issuer or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person  making such payment or distribution, or by the holders of the Securities or by the Trustee under  this Indenture if received by them or it, directly to the holders of Senior Indebtedness of the  Issuer (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness of  the Issuer held by such holders, as calculated by the Issuer) or their representative or  representatives, or to the trustee or trustees under any indenture pursuant to which any  

 

  -53-  ActiveUS 168294812v.5  instruments evidencing any Senior Indebtedness of the Issuer may have been issued, as their  respective interests may appear, to the extent necessary to pay all Senior Indebtedness of the  Issuer in full, in money or money’s worth, after giving effect to any concurrent payment or  distribution to or for the holders of Senior Indebtedness of the Issuer, before any payment or  distribution is made to the holders of the Securities or to the Trustee.  In the event that, notwithstanding the foregoing, any payment or distribution of assets of  the Issuer of any kind or character, whether in cash, property or securities, prohibited by the  foregoing, shall be received by the Trustee or the holders of the Securities before all Senior  Indebtedness of the Issuer is paid in full, or provision is made for such payment in money in  accordance with its terms, such payment or distribution shall be held in trust for the benefit of  and shall be paid over or delivered to the holders of Senior Indebtedness of the Issuer or their  representative or representatives, or to the trustee or trustees under any indenture pursuant to  which any instruments evidencing any Senior Indebtedness of the Issuer may have been issued,  as their respective interests may appear, as calculated by the Issuer, for application to the  payment of all Senior Indebtedness of the Issuer remaining unpaid to the extent necessary to pay  all Senior Indebtedness of the Issuer in full in money in accordance with its terms, after giving  effect to any concurrent payment or distribution to or for the holders of such Senior  Indebtedness.  For purposes of this Article 13, the words, “cash, property or securities” shall not be  deemed to include shares of stock of the Issuer as reorganized or readjusted, or securities of the  Issuer or any other corporation provided for by a plan of reorganization or readjustment, the  payment of which is subordinated at least to the extent provided in this Article 13 with respect to  the Securities to the payment of all Senior Indebtedness of the Issuer which may at the time be  outstanding; provided that (i) the Senior Indebtedness of the Issuer is assumed by the new  corporation, if any, resulting from any such reorganization or readjustment, and (ii) the rights of  the holders of the Senior Indebtedness of the Issuer (other than leases) and of leases which are  assumed are not, without the consent of such holders, altered by such reorganization or  readjustment.    The consolidation of the Issuer with, or the merger of the Issuer into, another Person or  the liquidation or dissolution of the Issuer following the conveyance or transfer of its property as  an entirety, or substantially as an entirety, to another Person upon the terms and conditions  provided for in Article 9 hereof shall not be deemed a dissolution, winding-up, liquidation or  reorganization for the purposes of this Section 13.02 if such other Person shall, as a part of such  consolidation, merger, conveyance or transfer, comply with the conditions stated in Article 9  hereof.    Section 13.03 Subrogation of Securities.  Subject to the payment in full of all Senior  Indebtedness of the Issuer, the rights of the holders of the Securities shall be subrogated to the  rights of the holders of Senior Indebtedness of the Issuer to receive payments or distributions of  cash, property or securities of the Issuer applicable to the Senior Indebtedness of the Issuer until  the principal of and interest on the Securities shall be paid in full; and, for the purposes of such  subrogation, no payments or distributions to or for the benefit of the holders of the Senior  Indebtedness of the Issuer or the Trustee of any cash, property or securities to which the holders  of the Securities or the Trustee would be entitled except for the provisions of this Article 13,  

 

  -54-  ActiveUS 168294812v.5  shall, as between the Issuer, its creditors other than holders of Senior Indebtedness of the Issuer,  and the holders of the Securities, be deemed to be a payment by the Issuer to or on account of the  Senior Indebtedness of the Issuer.  It is understood that the provisions of this Article 13 are and  are intended solely for the purpose of defining the relative rights of the holders of the Securities,  on the one hand, and the holders of the Senior Indebtedness of the Issuer, on the other hand.  Nothing contained in this Article 13 or elsewhere in this Indenture or in the Securities is  intended to or shall impair, as between the Issuer, its creditors other than the holders of its Senior  Indebtedness, and the holders of the Securities, the obligation of the Issuer, which is absolute and  unconditional, to pay to the holders of the Securities the principal of and interest on the  Securities as and when the same shall become due and payable in accordance with their terms, or  is intended to or shall affect the relative rights of the holders of the Securities and creditors of the  Issuer other than the holders of its Senior Indebtedness, nor shall anything herein or therein  prevent the Trustee or the holder of any Security from exercising all remedies otherwise  permitted by applicable law upon default under this Indenture, subject to the rights, if any, under  this Article 13 of the holders of Senior Indebtedness of the Issuer in respect of cash, property or  securities of the Issuer received upon the exercise of any such remedy.  Upon any payment or distribution of assets of the Issuer referred to in this Article 13, the  Trustee, subject to the provisions of Section 6.01, and the holders of the Securities shall be  entitled to rely upon any order or decree made by any court of competent jurisdiction in which  such dissolution, winding-up, liquidation or reorganization proceedings are pending, or a  certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making  such payment or distribution, delivered to the Trustee or to the holders of the Securities, for the  purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the  Senior Indebtedness and other indebtedness of the Issuer, the amount thereof or payable thereon,  the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this  Article 13.  Section 13.04 Authorization by Securityholders.  Each holder of a Security by its  acceptance thereof authorizes and directs the Trustee on its behalf to take such action as may be  necessary or appropriate to effectuate the subordination provided in this Article 13 appoints the  Trustee its attorney-in-fact for any and all such purposes.  Section 13.05 Notice to Trustee.  The Issuer shall give prompt written notice to a  Responsible Officer of the Trustee of any fact known to the Issuer which would prohibit the  making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the  provisions of this Article 13.  Notwithstanding the provisions of this Article 13 or any other  provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of  any facts which would prohibit the making of any payment of monies to or by the Trustee in  respect of the Securities pursuant to the provisions of this Article 13, unless and until a  Responsible Officer of the Trustee shall have received written notice thereof at the Corporate  Trust Office of the Trustee from the Issuer or a holder or holders of Senior Indebtedness of the  Issuer or from any trustee therefor; and before the receipt of any such written notice, the Trustee,  subject to the provisions of Section 6.01, shall be entitled in all respects to assume that no such  facts exist; provided that if on a date not fewer than three Business Days prior to the date upon  which by the terms hereof any such monies may become payable for any purpose (including,  

 

  -55-  ActiveUS 168294812v.5  without limitation, the payment of the principal of or interest on any Security) the Trustee shall  not have received, with respect to such monies, the notice provided for in this Section 13.05,  then, anything herein contained to the contrary notwithstanding, the Trustee shall have full  power and authority to receive such monies and to apply the same to the purpose for which they  were received, and shall not be affected by any notice to the contrary which may be received by  it on or after such prior date.    The Trustee conclusively shall be entitled to rely on the delivery to it of a written notice  by a Person representing himself to be a holder of Senior Indebtedness of the Issuer (or a trustee  on behalf of such holder) to establish that such notice has been given by a holder of Senior  Indebtedness of the Issuer or a trustee on behalf of any such holder or holders.  In the event that  the Trustee determines in good faith that further evidence is required with respect to the right of  any Person as a holder of Senior Indebtedness of the Issuer to participate in any payment or  distribution pursuant to this Article 13, the Trustee may request such Person to furnish evidence  to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of the Issuer  held by such Person, the extent to which such Person is entitled to participate in such payment or  distribution and any other facts pertinent to the rights of such Person under this Article 13, and if  such evidence is not furnished the Trustee may defer any payment to such Person pending  judicial determination as to the right of such Person to receive such payment.  Section 13.06 Trustee’s Relation to Senior Indebtedness.  The Trustee in its individual  capacity shall be entitled to all the rights set forth in this Article 13 in respect of any Senior  Indebtedness of the Issuer at any time held by it, to the same extent as any other holder of Senior  Indebtedness of the Issuer and nothing elsewhere in this Indenture shall deprive the Trustee of  any of its rights as such holder.  With respect to the holders of Senior Indebtedness of the Issuer, the Trustee undertakes to  perform or to observe only such of its covenants and obligations as are specifically set forth in  this Article 13, and no implied covenants or obligations with respect to the holders of Senior  Indebtedness of the Issuer shall be read into this Indenture against the Trustee.  The Trustee shall  not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Issuer and  the Trustee shall not be liable to any holder of Senior Indebtedness of the Issuer if it shall pay  over or deliver to holders of Securities, the Issuer or any other Person money or assets to which  any holder of Senior Indebtedness of the Issuer shall be entitled by virtue of this Article 13 or  otherwise.  Section 13.07 No Impairment of Subordination.  No right of any present or future holder  of any Senior Indebtedness of the Issuer to enforce subordination as herein provided shall at any  time in any way be prejudiced or impaired by any act or failure to act on the part of the Issuer or  by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the  Issuer with the terms, provisions and covenants of this Indenture, regardless of any knowledge  thereof which any such holder may have or otherwise be charged with.  Section 13.08 Rights of Trustee.  Nothing in this Article 13 shall apply to claims of or  payments to, the Trustee pursuant to Section 6.06.   [Signature pages follow]  

 

  -56-  ActiveUS 168294812v.5  IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as  of _____________.  EMERGENT BIOSOLUTIONS INC.  By:    Name:  Title:  Attest:  By:    Name:  Title:      , Trustee  By:    Name:  Title:

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